TCR_Public/100608.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Tuesday, June 8, 2010, Vol. 14, No. 157

                            Headlines

2N+1 LL: Files for Chapter 11 Bankruptcy Protection
2N+1 LLC: Voluntary Chapter 11 Case Summary
448 N CUSTER: Voluntary Chapter 11 Case Summary
1740 TAMPA: Files for Chapter 11 Protection in Tampa
262272 45ST: Voluntary Chapter 11 Case Summary
ABDUS QURESHI: Case Summary & 9 Largest Unsecured Creditors
ACACIA AUTOMOTIVE: Recurring Losses Prompt Going Concern Doubt
ADVOCATE FINANCIAL: Files Schedules of Assets & Liabilities
AGUA DULCE: Western Commercial to Auction All Assets
ALICO CROSSINGS: Case Summary & 3 Largest Unsecured Creditors
AMBAC FINANCIAL: Credit Default Swaps Holders to Recoup 80%
AMBAC FINANCIAL: Commutes CDO of ABS Exposure with Counterparties
AMERICA WEST: Posts $5.0 Million Net Loss for Q1 2010
AMERICAN HYDRAULICS: Case Summary & 9 Largest Unsecured Creditors
AMERICAN INT'L: To Get GBP152-Mil Termination Fee from Prudential
ANCHOR TANK: Case Summary & 20 Largest Unsecured Creditors
ANGARAKA LIMITED : Voluntary Chapter 11 Case Summary
ARCHIE ECKARD: Case Summary & 15 Largest Unsecured Creditors
ARVINMERITOR INC: Board OKs Repurchase of Remaining 8-3/4% Notes
ASAP HOTEL: Case Summary & 3 Largest Unsecured Creditors
BARK GROUP: Posts $302,000 Net Loss for Q1 2010
BEREAN BAPTIST: Voluntary Chapter 11 Case Summary
BEST FAMILY: Voluntary Chapter 11 Case Summary
BISCAYNE PARK: Files Schedules of Assets and Liabilities
BISTATE BISTRO: Case Summary & 20 Largest Unsecured Creditors
BUTTERMILK TOWNE: Debtor, Not Lender, Gets Control of Rents
CABLEVISION SYSTEMS: Delays Exchange Offer for 8-5/8% Sr. Notes
CARTHEW BAY: Swings to C$88,217 Net Loss in Q1 2010
CATALYST PAPER: Appoints 4 New Members to Board of Directors
CATALYST PAPER: Appoints Denis Jean as Interim President & CEO
CEMTREX INC: Posts $157,300 Net Loss for Q1 2010
CERAGENIX CORPORATION: Voluntary Chapter 11 Case Summary
CHARLEMAGNE OF OKLAHOMA: Case Summary & Creditors List
CHARTER COMMUNICATIONS: Extends Exchange offer for CCH II Notes
CHEMTURA CORP: Claim Transfers for March-May Aggregate $19.3MM
CHEMTURA CORP: Opens Technical Center in Nanjing, China
CHEMTURA CORP: U.S. Trustee Reviews November-February Fees
CHINA DU: Posts US$49,000 Net Loss for Q1 2010
CHINESEWORLDNET.COM INC: Recurring Losses Cue Going Concern Doubt
CHRYSLER LLC: Claim Transfers Only Aggregate $20,833 for May
CHRYSLER LLC: New Chrysler Slashes Warranty Claims by 48%
CHRYSLER LLC: Objects to Electronic Data Systems Claim
CHRYSLER LLC: Objects to Summit County's Tax Claims
CIRCUIT CITY: Clerk Reports Claim Transfers for May
CIRCUIT CITY: Committee Proposes Arsene as Tax Counsel
CIRCUIT CITY: Objects to Removal of Gowling Fee Cap
COUNTRYWIDE HOME: Trustee Program Resolves Litigation Against Firm
COTTON 303: Case Summary & 6 Largest Unsecured Creditors
CREDIT CARDS: Case Summary & 3 Largest Unsecured Creditors
DANIEL CUGINI: Case Summary & 20 Largest Unsecured Creditors
DAVID JOHNSON: Case Summary & 13 Largest Unsecured Creditors
DB CAPITAL: Files for Chapter 11 Bankruptcy Protection in Denver
DECODE GENETICS: Nears Implementing Plan, 3% Unsecured Recovery
DELTA AIR: Gets DOT Approval for Detroit to South America Flights
DELTA AIR: Reports April 2010 Traffic Results
DENMAN TIRE: Titan Int'l Completes Purchase of Assets
DENNY'S CORP: Shareholders Support Company's Director Nominees
DIAMOND RANCH: Restates March 2009 & 2008 Balance Sheets
DISH DIRECT: Case Summary & 22 Largest Unsecured Creditors
DOUBLE DOWN: Voluntary Chapter 11 Case Summary
DRAGON PHARMACEUTICAL: Merger Counterparties Borrow $10-Mil.
DUNE ENERGY: Adjourns 2010 Annual Stockholders' Meeting
DUNE ENERGY: Natural Gas Partners VII Holds 4.9% of Shares
DYNCORP INT'L: Commences Cash Tender Offer & Consent Solicitation
EAU TECHNOLOGIES: Incurs $223,271 Net Loss for First Quarter
EAU TECHNOLOGIES: To Restate 2008 & 2009 Financial Statements
EDSCHA NORTH AMERICA: Seeks Exclusivity Until August 6
EDWARD ADLER: Case Summary & 20 Largest Unsecured Creditors
EL CAMINO: Case Summary & 14 Largest Unsecured Creditors
EL CAPITAN: Case Summary & 5 Largest Unsecured Creditors
ESCALON MEDICAL: Posts $309,358 Net Loss in Q3 Ended March 31
FAIRPOINT COMMS: Clerk Reports on Claim Transfers for April
FAIRPOINT COMMS: Clerk Reports on Claim Transfers for May
FAIRPOINT COMMS: Files Omnibus Motions to Assume Leases
FAM PROPERTIES 1: Case Summary & 9 Largest Unsecured Creditors
FAM PROEPRTIES 2: Case Summary & 5 Largest Unsecured Creditors
FIRSTFED FINANCIAL: Law Firm Offers to Litigate with Ex-Auditors
FLYING J: Expects to Emerge from Bankruptcy by July 31
FRISIA FARMS: Voluntary Chapter 11 Case Summary
GARTH INVESTMENTS: Case Summary & Largest Unsecured Creditor
GEMCRAFT HOMES: Court OKs Auction of Real Property on July 15
GENERAL FABRICATORS: Case Summary & 20 Largest Unsecured Creditors
GENERAL MOTORS: To Resume Super Bowl Advertisements
GENERAL MOTORS: District Court Rules Against Sale Objectors
GENERAL MOTORS: Establishes Venture Capital Subsidiary
GENERAL MOTORS: New GM Had $1.2MM Operating Income for Q1
GENERAL MOTORS: New GM Wants to Enforce Bankr. Sale Order
GENERAL MOTORS: Trafalet Okayed as Asbestos Claims Representative
GUANGZHOU GLOBAL: Posts $1.5 Million Net Loss in Q1 2010
HAMMERTOE HOLDINGS: Voluntary Chapter 11 Case Summary
HARBOUR EAST: Wants Access to Rental Income and Defaulted Deals
HARRAH'S ENTERTAINMENT: Notes Offering Escrow Conditions Satisfied
HEDIEH, INC.: Case Summary & 2 Largest Unsecured Creditors
HENRY L ANDERSON: IRS Wants Case Converted to Ch. 7 Liquidation
HSAD 3949: Voluntary Chapter 11 Case Summary
HOLLYWOOD BEACH: Asks for Court's Nod to Use Cash Collateral
HOLLYWOOD BEACH: Taps Joel M. Aresty as Bankruptcy Counsel
HOLLYWOOD MOTION PICTURE: Faces Competing Exit Plan from Lender
HWY 69: Case Summary & 3 Largest Unsecured Creditors
INNATECH LLC: To Shut Down Lebanon Operations on July 3
INNOTRAC CORP: Stock Trading Restrictions Extended Until Sept. 1
INTELLIGENT COMMUNICATION: Posts $2.9 Million Net Loss in Q1 2010
INTERNATIONAL COAL: Resumes Construction at Tygart No.1 Complex
JACOBS FINANCIAL: Amends Fiscal Q3 Financials; Net Loss Unchanged
JAMES WANNEMACHER: Case Summary & 12 Largest Unsecured Creditors
JER INVESTORS TRUST: Continues to Have Payment Defaults
JOHN BAYLESS: Guaranty Bank Buys Industrial Park for $928,000
JOINER ENTERPRISES: Case Summary & 20 Largest Unsecured Creditors
JOSEPH BORGES: Voluntary Chapter 11 Case Summary
KAMEL PLAZA: Case Summary & 3 Largest Unsecured Creditors
KENNETH STARR: Monitor Appointed as Interim Receiver
KEVIN SMITH: Case Summary & 20 Largest Unsecured Creditors
KIEBLER RECREATION: Files List of 20 Largest Unsecured Creditors
KIEBLER RECREATION: Gets Interim Nod to Use Cash Collateral
KIEBLER RECREATION: Wants July 28 Deadline for Filing of Schedules
KLAAS TALSMA: Voluntary Chapter 11 Case Summary
LANDAMERICA FIN'L: Barbosa Sues LES to Take Trust Funds
LANDAMERICA FIN'L: Commingled Exchanger Committee Seeks Payment
LANDAMERICA FIN'L: IRS Tax Claims Reduced, Allowed
LARIAT ASSOCIATES: Case Summary & 20 Largest Unsecured Creditors
LEHMAN BROTHERS: To Spend $262 Million on Maturing Mortgages
LEHMAN BROTHERS: Taps Sotheby's to Auction Off Art Collection
LIBBEY INC: Delays IPO of $150,000,000 of Securities
LIBERTY STAR: Gets Notification from Collateral Agent of Default
MAE CORPORATION: Voluntary Chapter 11 Case Summary
MAGIC BRANDS: Gets OK to Reject Sale Deal with R.J. Management
MAGIC BRANDS: Fuddruckers Franchisees Want Special Committee
MAGNA ENTERTAINMENT: To Cease to Be Reporting Issuer
MARMC TRANSPORTATION: Voluntary Chapter 11 Case Summary
MARTHA FERNANDEZ: Voluntary Chapter 11 Case Summary
MASHANTUCKET PEQUOT: Foxwoods Resort President Steps Down
MCGRATH'S PUBLICK: Patrick Swope Leaves Creditors Committee
MCGRATH'S PUBLICK: Wants Plan Exclusivity until September 1
MEDICAL EDUCATIONAL: Case Summary & 8 Largest Unsecured Creditors
MEHDI MOHAMMADIAN: Voluntary Chapter 11 Case Summary
MERIDIAN RESOURCES: Earns $340,000 for March 31 Quarter
MICHAEL FOODS: Discloses Tender Offers & Consent Solicitations
MICHAEL HENNEN: Case Summary & 2 Largest Unsecured Creditors
MIRE INVESTMENT: Voluntary Chapter 11 Case Summary
MOMENTIVE PERFORMANCE: March 28 Balance Sheet Upside Down by $565M
MONEYGRAM INTERNATIONAL: Stockholders Approve 2005 Incentive Plan
MONTECITO AT MIRABEL: To Satisfy Secured Claims before July 2014
MOUNTAIN PLAZA: Voluntary Chapter 11 Case Summary
MT. ZION LIMITED: Hearing on Cash Collateral Use Set for June 24
NAVISTAR INTERNATIONAL: To Present Q2 Results Tomorrow
NEALCO DEVELOPMENT: Case Summary & Largest Unsecured Creditor
NEENAH ENTERPRISES: Has Until October 1 to File Chapter 11 Plan
NETWORK COMMS: Hires Kirkland, Houlihan for Restructuring
NEVADA STAR: Amends List of Largest Unsecured Creditors
NEVADA STAR: Files Schedules of Assets and Liabilities
NEVADA STAR: Taps the Law Offices of Michael Jay Berger as Counsel
NEXSTAR BROADCASTING: Picks 10 Individuals to Serve as Directors
NICOS LOIZOU: Case Summary & 20 Largest Unsecured Creditors
NORTH AMERICAN PETROLEUM: Gets Interim Okay to Use Cash Collateral
NORTH AMERICAN PETROLEUM: Gets OK to Hire Epiq as Claims Agent
NORTH AMERICAN TECH: US Trustee Forms 3-Member Creditors Committee
NORTHSIDE VILLAGE: Case Summary & 20 Largest Unsecured Creditors
NOWAUTO GROUP: Sues Former Auditor; Amends Financial Reports
NPS PHARMACEUTICAL: Stockholders Approve 2010 Stock Purchase Plan
NYC OFF-TRACK BETTING: Chairman Says Fin'l Overhaul "Too Steep"
O&G LEASING: Files List of 20 Largest Unsecured Creditors
ONOMEA BAY: Case Summary & 19 Largest Unsecured Creditors
ORLEANS HOMEBUILDERS: NYSE Files Form 25 to Delist Shares
PAETEC HOLDING: Stockholders Elect 3 to Board of Directors
PALM INC: FTC Grants Waives Waiting Period for HP Purchase
PAM GLEICHMAN: Files for Bankruptcy Under Chapter 11 in Chicago
PARK WEST CIRCLE: Case Summary & 20 Largest Unsecured Creditors
PARK WEST RADIOLOGY: Case Summary & 9 Largest Unsecured Creditors
PAUL TRANSPORTAION: Files Schedules of Assets & Liabilities
PETROFLOW ENERGY: Gets Delisting Notice From NYSE & Toronto
POSITRON CORPORATION: Posts $3.3 Million Net Loss in Q1 2010
PRIMROSE RESTAURANT: Case Summary & 20 Largest Unsecured Creditors
PROWEST MEDIA: Voluntary Chapter 11 Case Summary
RCLC INC: March 31 Balance Sheet Upside-Down by $2.7-Mil.
RELIGIOUS AND CELESTE: Case Summary & 6 Largest Unsec Creditors
RENAISSANT LAFAYETTE: In Talks with Giuffre for Sale of Assets
RICHARD KNOWLES: Case Summary & 20 Largest Unsecured Creditors
ROYSE CITY: Voluntary Chapter 11 Case Summary
RSF PROPERTIES: Case Summary & 2 Largest Unsecured Creditors
RYLAND GROUP: Posts $14.3 Million Net Loss in Qtr. Ended March 31
RYNO MATERIALS: Case Summary & 20 Largest Unsecured Creditors
SAINT VINCENTS: Insists on Terms of Grant as Crisis Managers
SAINT VINCENTS: Panel Wins Nod to Tap Akin Gump as Counsel
SAINT VINCENTS: Wins Nod to Employ Togut as Conflicts Counsel
SAND HILL: Asks for Court's Permission to Use Cash Collateral
SECUREALERT INC: Seeks Shareholders' OK to Issue 600 Mil. Shares
SENAL JAYAMAHA: Voluntary Chapter 11 Case Summary
SEQUENOM INC: Settles Derivative Litigation
SHANE PERRY: Case Summary & 20 Largest Unsecured Creditors
SHARON NELSON: Case Summary & 31 Largest Unsecured Creditors
SIRIUS XM: Reports Results of May 27 Stockholders Meeting
SMURFIT-STONE: Proposes Settlement with Equity Holders
SMURFIT-STONE: Reaches Deal with Union Bank & CIT on Plan
SMURFIT-STONE: Resolves Issues with Equity Holders, Sees Exit
SOUTH BAY: Gets Nod to Pay Betterments Obligations
SOUTH BAY: PwC Employment Application Fails to Win Judge's Nod
SOUTH BAY: Wins Approval for Ajalat as Special Counsel
SPHERIS INC: Holds Auction for Subordinated Note
SPHERIS INC: Court Hearing on Exclusivity Extension June 16
SPHERIS INC: Operations Amends Schedules of Assets and Debts
SPRINT NEXTEL: Obtains $2.1 Billion Revolving Credit Facility
STOUDAMIRE'S DOWNTOWN: Changes Name to Downtown Sports Grill
SUN-TIMES MEDIA: To Transform, Grow Presence in Chicago Area
SUNCAL COS: Court Affirms Escrowed Account Is Estates' Property
TAMPA BAY HOLDINGS: Case Summary & 2 Largest Unsecured Creditors
TEXAS RANGERS: Filing of Schedules Extended Until June 28
TRANS-LUX CORPORATION: Posts $1.4 Million Net Loss in Q1 2010
TIRUPATI LLC: Case Summary & 12 Largest Unsecured Creditors
TRI-COUNTY SAND: Case Summary & 17 Largest Unsecured Creditors
TRIBUNE CO: Wins Nod of Reorganization Plan Outline
TRICO MARINE: Shareholder Urges "No" Vote to Director Nominees
UNIFI INC: To Redeem 11.5% Senior Secured Notes Due 2014
U.S. CONCRETE: Court Approves Disclosure Statement
US AEROSPACE: Posts $1.7 Million Net Loss for March 31 Quarter
VALASSIS: Appoints Thomas J. Reddin to its Board of Directors
VIEWCREST INVESTMENTS: Wants Reorganization Case Dismissed
VIEWCREST INVESTMENTS: Taps Thomas Boardman as Bankruptcy Counsel
VIKING SYSTEMS: Posts $295,450 Net Loss for Qtr. Ended March 31
VLADMIR VILCHITSA: Voluntary Chapter 11 Case Summary
W T DENNIS: Case Summary & 20 Largest Unsecured Creditors
WESTERN WIND: Files Form 20-F; Posts C$5 Million Net Loss in 2009
WOODCREST CLUB: Plan Outline Hearing Continued until June 22
XERIUM TECHNOLOGIES: AS Investors Owns 13.7% of Common Stock
XERIUM TECHNOLOGIES: Carl Marks Owns 9.2% of Common Stock
ZALE CORP: Citibank to Terminate Merchant Services Agreement
ZIFF DAVIS: Acquired by Digital Media Exec Shah & Great Hill
* Jim Lawrence Appointed CEO of Rothschild North America
* Large Companies With Insolvent Balance Sheets


                            *********



2N+1 LL: Files for Chapter 11 Bankruptcy Protection
---------------------------------------------------
2N+1 LLC filed for bankruptcy under Chapter 11 (Bankr. D. Mass.
Case No. 10-16116), listing assets of up to $1 million and
liabilities of between $1 million and $10 million.

The Company says it owes $311,000 to Virgil Electric Co.;
$173,000, Paul Lohnes; $134,000 Farina Corp.; $115,000, Henry F.
Owens Inc.; $105,000, Level3 Communications; and $100,000, Richard
Jannigan.

Andrew G. Lizotte, Esq., at Hanify & King, P. C., represents the
Company in its Chapter 11 effort.


2N+1 LLC: Voluntary Chapter 11 Case Summary
-------------------------------------------
Debtor: 2N+1, LLC
        35 McGrath Highway
        Somerville, MA 02143

Bankruptcy Case No.: 10-16116

Chapter 11 Petition Date: June 3, 2010

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

Judge: Joan N. Feeney

Debtor's Counsel: Andrew G. Lizotte, Esq.
                  Hanify & King, P. C.
                  Professional Corporation
                  One Beacon Street
                  Boston, MA 02108
                  Tel: (617) 423-0400
                  Fax: (617) 556-8985
                  E-mail: agl@hanify.com

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

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

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

The petition was signed by Vincent J. Bono, CEO.


448 N CUSTER: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: 448 N Custer Holdings LLC
        448 North Custer Drive
        McKinney, TX 75071

Bankruptcy Case No.: 10-41807

Chapter 11 Petition Date: May 31, 2010

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

Debtor's Counsel: Rogena Jan Atkinson, Esq.
                  3617 White Oak Drive
                  Houston, TX 77007
                  Tel: (713) 862-1700
                  E-mail: rogena@rjabankruptcy.com

Scheduled Assets: $3,900,000

Scheduled Debts: $2,822,619

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

The petition was signed by Bill McCrorey, managing member.


1740 TAMPA: Files for Chapter 11 Protection in Tampa
----------------------------------------------------
1740 Tampa Gateway Blvd. filed for Chapter 11 bankruptcy
protection in U.S. Bankruptcy Court in Tampa, Florida, due to a
foreclosure proceeding by Bank of America owed $5.5 million,
according to a report by Michael Sasso of Tampa Bay Online.

1740 Tampa Gateway Blvd. owns the 75-room Hampton Inn.

Tampa Bay Online relates that the revenue of the Company's Seffner
hotel fell about 30% last year from 2008.


262272 45ST: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: 262272 45st Owners Group LLC
          aka 262-272 45th St. Owners Group
        SRM
        620 Coney Island Avenue
        Brooklyn, NY 11218

Bankruptcy Case No.: 10-45163

Chapter 11 Petition Date: June 2, 2010

Court: U.S. Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Jerome Feller

Debtor's Counsel: Richard Tanenbaum, Esq.
                  44 Court Street, Suite 917
                  Brooklyn, NY 11201
                  Tel: (347) 291-1776
                  Fax: (866) 413-9205
                  E-mail: nybankruptcy@gmail.com

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

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

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

The petition was signed by Solomon Steinlauf, president.


ABDUS QURESHI: Case Summary & 9 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: Abdus Salam Qureshi
               Naheed Qureshi
               925 Mountain Home Road
               Woodside, CA 94062

Bankruptcy Case No.: 10-32054

Chapter 11 Petition Date: June 2, 2010

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

Judge: Thomas E. Carlson

Debtor's Counsel: Dennis Yan, Esq.
                  Law Office of Dennis Yan
                  595 Market St. #1350
                  San Francisco, CA 94105
                  Tel: (415) 867-5797
                  E-mail: Dennis@yahoo.com

Scheduled Assets: $9,136,116

Scheduled Debts: $17,669,063

A list of the Company's 9 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/canb10-32054.pdf

The petition was signed by Abdus Salam Qureshi and Naheed Qureshi.


ACACIA AUTOMOTIVE: Recurring Losses Prompt Going Concern Doubt
--------------------------------------------------------------
Acacia Automotive, Inc., filed on May 27, 2010, its annual report
on Form 10-K for the year ended December 31, 2009.

Killman, Murrell & Company, P.C., in Odessa, Texas, expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that the Company
has suffered recurring losses from operations and has limited
capital resources.

The Company reported a net loss of $274,834 on $1,411,425 of
revenue for 2009, compared with a net loss of $910,497 on $998,972
of revenue for 2008.

The Company's balance sheet as of December 31, 2009, showed
$1,542,710 in assets, $1,277,979 of liabilities, and $264,731 of
stockholders' equity.

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

              http://researcharchives.com/t/s?644c

Based in Ocala, Fla., Acacia Automotive, Inc., (PNK: ACCA.PK) --
http://www.acacia.bz/-- is engaged in acquiring and operating
automotive auctions, including automobile, truck, equipment, boat,
motor home, RV, motorsports, and other related vehicles.


ADVOCATE FINANCIAL: Files Schedules of Assets & Liabilities
-----------------------------------------------------------
Advocate Financial, L.L.C., has filed with the U.S. Bankruptcy
Court for the Eastern District of Louisiana its schedules of
assets and liabilities, disclosing:

  Name of Schedule                     Assets          Liabilities
  ----------------                     ------          -----------
A. Real Property                            $0
B. Personal Property               $19,370,268
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                              $0
E. Creditors Holding
   Unsecured Priority
   Claims                                                      $0
F. Creditors Holding
   Unsecured Non-priority
   Claims                                             $10,769,568
                                   -----------        -----------
      TOTAL                        $19,370,268        $10,769,568

New Orleans, Louisiana-based Advocate Financial, L.L.C., filed for
Chapter 11 bankruptcy protection on May 25, 2010 (Bankr. M.D. La.
Case No. 10-10767).  Dennis M. LaBorde, Esq., who has an office in
New Orleans, Louisiana, assists the Company in its restructuring
effort.  The Company estimated its assets and debts at $10,000,001
to $50,000,000.


AGUA DULCE: Western Commercial to Auction All Assets
----------------------------------------------------
Business Journal of Santa Clarita Valley says Western Commercial
bank has placed Agua Dulce Vineyards -- including all buildings on
the sprawling 88-acre property, two private wells, all of its
grape vines and more than 100,000 gallons of wine -- on the
auction block.  Interested bidders have until June 24, 2010, at
2:00 p.m., to submit their offers for the property.  The opening
bid was set at $9.3 million.

Santa Clarita, California-based Agua Dulce Vineyards, LLC, filed
for Chapter 11 on May 4, 2009 (Bankr. C. D. Calif. Case No. 09-
15207).  Martin J. Brill, Esq., at Levene, Neale, Bender, Rankin &
Brill L.L.P., represents the Debtor in its restructuring effort.
In its bankruptcy petition, the Debtor said assets and debts both
are between $10,000,001 and $50,000,000.


ALICO CROSSINGS: Case Summary & 3 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Alico Crossings, LLC
        26381 S. Tamiami Trail, Suite 300
        Bonita Springs, FL 34134

Bankruptcy Case No.: 10-13371

Chapter 11 Petition Date: June 2, 2010

Court: United States Bankruptcy Court
       Middle District of Florida (Ft. Myers)

Debtor's Counsel: Hugo S. de Beaubien, Esq.
                   Tel: (813) 221-7425
                   E-mail: bdebeaubien@slk-law.com
                  Steven M. Berman, Esq.
                   Tel: (813) 229-7600
                   Fax: (813) 229-1660
                   E-mail: sberman@slk-law.com
                  Shumaker, Loop & Kendrick LLP
                  101 E. Kennedy Blvd., Suite 2800
                  Tampa, FL 33602

Scheduled Assets: $3,342,272

Scheduled Debts: $19,429,322

A list of the Company's 3 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flmb10-13371.pdf

The petition was signed by James A. Nashman, president, PBD, Inc.
and manager of Alico Crossings, LLC.


AMBAC FINANCIAL: Credit Default Swaps Holders to Recoup 80%
-----------------------------------------------------------
Dow Jones' Daily Bankruptcy Review reports that investors who
bought insurance against guarantees sold by bond insurer Ambac
Assurance Corp. will receive 80 cents on each dollar they're owed
based on the results of an auction Friday to settle the protection
contracts.

                        About Ambac Financial

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

The Company's balance sheet at March 31, 2010, revealed
$35.8 billion in total assets and $37.2 billion total liabilities,
for a total stockholders' deficit of $1.4 billion.

Ambac said it has insufficient capital to finance its debt service
and operating expense requirements beyond the second quarter of
2011 and may need to seek bankruptcy protection.

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


AMBAC FINANCIAL: Commutes CDO of ABS Exposure with Counterparties
-----------------------------------------------------------------
Ambac Financial Group, Inc., said it has commuted all of its
remaining $16.4 billion of exposure to collateralized debt
obligations of asset-backed securities.

The commutation agreement with several CDO of ABS counterparties
provides that AAC will pay in the aggregate (i) $2.6 billion in
cash and (ii) $2.0 billion of newly issued surplus notes of AAC.
The surplus notes have a scheduled maturity of June 7, 2020.
Interest on the surplus notes is payable at the annual rate of
5.1%.  All payments of principal and interest on the surplus notes
will be subject to the prior approval of the Office of the
Commissioner of Insurance of the State of Wisconsin.

Additionally, (i) certain non-CDO of ABS transactions with par or
notional amounting to approximately $1.4 billion were commuted for
cash payments of $96.5 million and (ii) it is expected that,
subject to certain conditions, certain other non-CDO of ABS
exposures with par amounting to a maximum of approximately $1.5
billion will be commuted within the next twelve months for a
maximum amount of approximately $115 million of cash plus $60
million of surplus notes of AAC.

                        About Ambac Financial

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

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

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


AMERICA WEST: Posts $5.0 Million Net Loss for Q1 2010
-----------------------------------------------------
America West Resources, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $4,966,058 on $1,100,921 of revenue
for the three months ended March 31, 2010, compared with net
income of $2,101,420 on $1,827,611 of revenue for the same period
ended March 31, 2009.

The Company's balance sheet as of March 31, 2010, showed
$16,533,677 in assets and $27,631,632 in liabilities, for a
stockholders' deficit of $11,097,955.

America West had a working capital deficit of $26,429,243 and an
accumulated deficit of $27,926,956 as of March 31, 2010.

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

               http://researcharchives.com/t/s?6425

Based in Salt Lake City, America West Resources, Inc., is a
domestic coal producer engaged in the mining of clean and
compliant (low-sulfur) coal.  The majority of our coal is sold to
utility companies for use in the generation of electricity.  The
Company operates the Horizon Mine located in Carbon County, Utah.

The Horizon Mine is operated through the Company's wholly owned
subsidiary Hidden Splendor Resources, Inc., a Nevada corporation.
This mine produces what is commonly known as "steam coal," that
is, coal used to heat water to create steam which, in turn, is
used to turn turbine engines to produce electricity.

                           *     *     *

MaloneBailey, LLP, in Houston, expressed substantial doubt about
the Company's ability to continue as a going concern after
auditing the Company's financial statements for the year ended
December 31, 2009.  The independent auditors noted that the
Company has a working capital deficit and has incurred significant
losses.


AMERICAN HYDRAULICS: Case Summary & 9 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: American Hydraulics, Inc.
        dba Nelson's Hydraulics
        904 Capriccio Lane
        Apollo Beach, FL 33572

Bankruptcy Case No.: 10-13273

Chapter 11 Petition Date: June 1, 2010

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

Judge: Catherine Peek McEwen

Debtor's Counsel: Bernard J. Morse, Esq.
                  Morse & Gomez PA
                  11268 Winthrop Main Street, Suite 102
                  Riverview, FL 33578
                  Tel: (813) 341-8400
                  Fax: (813) 463-1807
                  E-mail: chipmorse@morsegomez.com

Scheduled Assets: $192,820

Scheduled Debts: $1,552,357

A list of the Company's 9 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flmb10-13273.pdf

The petition was signed by Kristie L. Horton, company's vice
president.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Ronald & Kristie Horton                10-09524    04/23/10
Tampa Bay Holdings, LLC                10-13274    06/01/10


AMERICAN INT'L: To Get GBP152-Mil Termination Fee from Prudential
-----------------------------------------------------------------
American International Group, Inc., said it will receive a
termination fee from Prudential plc equal to GBP152,569,000 on
July 1, 2010.

AIG, AIA Aurora LLC, a special purpose vehicle formed by AIG,
Prudential plc and Prudential Group plc (formerly Petrohue (UK)
Investments Limited) entered into an agreement, dated June 2,
2010, to terminate the agreement entered into by those parties on
March 1, 2010, as amended on May 16, 2010, for the sale of AIA
Group Limited.

The Termination Agreement provides that all rights and obligations
under the Share Purchase Agreement are terminated, except that
confidentiality agreements among the parties and certain
procedural provisions of the Share Purchase Agreement remain in
effect.

                          About AIG Inc.

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

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

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


ANCHOR TANK: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Anchor Tank Lines Corp.
          dba Reliable Transit Corp.
              Mystic Tank Lines Corp.
        19-01 Steinway Street
        Astoria, NY 11105

Bankruptcy Case No.: 10-45230

Chapter 11 Petition Date: June 3, 2010

Court: U.S. Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Elizabeth S. Stong

Debtor's Counsel: Andrea Fischer, Esq.
                  Olshan Grundman Frome Rosenzweig Wolosky
                  Park Avenue Tower
                  65 East 55th Street
                  New York, NY 10022
                  Tel: (212) 451-2300
                  Fax: (212) 451-2222
                  E-mail: afischer@olshanlaw.com

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

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

According to the schedules, the Company says that assets total
$7,450,715 while debts total $11,469,763.

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/nyeb10-45230.pdf

The petition was signed by Leonard Baldari, chief executive
officer.


ANGARAKA LIMITED : Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Angaraka Limited Partnership
        Buchanan Street Partners
        620 Newport Center Drive, 8th Floor
        Newport Beach, CA 92660

Bankruptcy Case No.: 10-33868

Chapter 11 Petition Date: May 31, 2010

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

Judge: Stacey G. Jernigan

Debtor's Counsel: Vincent P. Slusher, Esq.
                  DLA Piper LLP US
                  1717 Main Street, Suite 4600
                  Dallas, TX 75201
                  Tel: (214) 743-4572
                  Fax: (972) 813-6267
                  E-mail: vince.slusher@dlapiper.com

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

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

The petition was signed by Timothy J. Ballard, the Company's
president and chief investment officer.

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


ARCHIE ECKARD: Case Summary & 15 Largest Unsecured Creditors
------------------------------------------------------------
Joint Debtors: Archie Dale Eckard
               Faith Friddle Duke
               790 Davis Cove Road
               Taylorsville, NC 28681

Bankruptcy Case No.: 10-50811

Chapter 11 Petition Date: June 2, 2010

Court: U.S. Bankruptcy Court
       Western District of North Carolina (Wilkesboro)

Judge: J. Craig Whitley

Debtor's Counsel: Richard S. Wright, Esq.
                  Hamilton Moon Stephens
                  Steele & Martin, PLLC
                  201 South College Street, Suite 2020
                  Charlotte, NC 28244
                  Tel: (704) 344-1117
                  Fax: (704) 344-1483
                  E-mail: rwright@lawhms.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 15 largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/ncwb10-50811.pdf

The petition was signed by the Joint Debtors.


ARVINMERITOR INC: Board OKs Repurchase of Remaining 8-3/4% Notes
----------------------------------------------------------------
The Board of Directors of ArvinMeritor, Inc., acting through a
committee thereof, on June 1, 2010, approved a repurchase program
for up to the remaining principal amount of the Company's 8-3/4%
Notes due 2012.  Repurchases, if any, may be made from time to
time through maturity through open market purchases or privately
negotiated transactions or otherwise, in the discretion of
management as market conditions warrant.

                      About ArvinMeritor Inc.

Based in Troy, Michigan, ArvinMeritor, Inc. (NYSE: ARM) --
http://www.arvinmeritor.com/-- is a premier global supplier of a
broad range of integrated systems, modules and components to the
motor vehicle industry.  The Company marks its centennial
anniversary in 2009, celebrating a long history of 'forward
thinking.'  The company serves commercial truck, trailer and
specialty original equipment manufacturers and certain
aftermarkets, and light vehicle manufacturers.

The Company's balance sheet at March 31, 2010, showed
$2.769 billion in total assets and $3.646  billion in total
liabilities, for a $877.0 million stockholders' deficit.
Stockholder's deficit was at $1.166 billion at March 31, 2009.

                            *    *    *

In January 2010, Moody's Investors Service affirmed the Corporate
Family and Probability of Default ratings of ArvinMeritor, Inc.,
at 'Caa1'.


ASAP HOTEL: Case Summary & 3 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: ASAP Hotel Management Corporation
        10501 Valley Blvd., Suite 1880
        El Monte, CA 91731

Bankruptcy Case No.: 10-32451

Chapter 11 Petition Date: June 2, 2010

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

Judge: Victoria S. Kaufman

Debtor's Counsel: Robert S. Altagen, Esq.
                  Law Offices of Robert S. Altagen
                  1111 Corporate Ctr Dr #201
                  Monterey Park, CA 91754
                  Tel: (323) 268-9588
                  Fax: (323) 268-8742
                  E-mail: rsaink@earthlink.net

Estimated Assets: Not Indicated

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

A list of the Company's 3 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-32451.pdf

The petition was signed by Frank Yuan, the Company's president.


BARK GROUP: Posts $302,000 Net Loss for Q1 2010
-----------------------------------------------
Bark Group Inc. filed its quarterly report on Form 10-Q, reporting
a net loss of $302,000 on $1,364,000 of revenue for the three
months ended March 31, 2010, compared with a net loss of $530,000
on $1,243,000 of revenue for the same period ended March 31, 2009.

The decrease in net loss is attributed to lower selling, general
and administrative expenses.

The Company's balance sheet as of March 31, 2010, showed
$11,509,000 in assets, $10,903,000 of liabilities, and $1,223,000
on non-controlling interests, for a stockholders' deficit of
$617,000.

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

               http://researcharchives.com/t/s?641e

As reported in the Troubled Company Reporter on April 23, 2010,
Marcum LLP, in New York, expressed substantial doubt about the
Company's ability to continue as a going concern after auditing
the Company's financial statements for the year ended December 31,
2009.  The independent auditors noted that the Company has not
achieved a sufficient level of revenues to support its business
and has suffered recurring losses from operations.

Based in Copenhagen K, Denmark, Bark Group Inc. (OTC BB: BKPG) --
http://bark-group.com/-- formerly Exwal Inc., is a commercial
communication services company that provides integrated
traditional and new media advertising and marketing consulting
services to its clients.  Clients are comprised primarily of
European businesses that range in size from small local businesses
to larger trans-national and multi-national corporations.  These
clients include a range of businesses including financial
institutions and banks, consumer products companies and luxury
goods companies.


BEREAN BAPTIST: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Berean Baptist Church of Orange Park
        4459 U.S. Hwy. 17 S.
        Fleming Island, FL 32003

Bankruptcy Case No.: 10-04791

Chapter 11 Petition Date: June 2, 2010

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

Debtor's Counsel: Bradley R. Markey, Esq.
                  Stutsman, Thames & Markey P.A.
                  50 N Laura Street Suite 1600
                  Jacksonville, FL 32202-3614
                  Tel: (904) 358-4000
                  Fax: (904) 358-4001
                  E-mail: BRM@stmlaw.net

Scheduled Assets: $8,966,258

Scheduled Debts: $6,523,935

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

The petition was signed by Dr. Thomas Neal, president.


BEST FAMILY: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Best Family, LLC
        W5463 Highway II
        Random Lake, WI 53075

Bankruptcy Case No.: 10-29225

Chapter 11 Petition Date: June 1, 2010

Court: U.S. Bankruptcy Court
       Eastern District of Wisconsin (Milwaukee)

Judge: Pamela Pepper

Debtor's Counsel: Edward J. Ritger, Esq.
                  Ritger Law Office
                  675 Wolf Road
                  P.O. Box 371
                  Random Lake, WI 53075
                  Tel: (920) 994-4313
                  E-mail: ritgerlw@execpc.com

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

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

The list of unsecured creditors filed together with its petition
contains no entries.

The petition was signed by John F. Best Jr., member.


BISCAYNE PARK: Files Schedules of Assets and Liabilities
--------------------------------------------------------
Biscayne Park LLC filed with the U.S. Bankruptcy Court for the
Southern District of Florida its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $13,000,000
  B. Personal Property              $285,500
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $10,825,000
  E. Creditors Holding
     Unsecured Priority
     Claims                                           $40,000
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $3,453,965
                                 -----------      -----------
        TOTAL                    $13,285,500      $14,318,965

Miami, Florida-based Biscayne Park LLC filed for Chapter 11
bankruptcy protection on April 26, 2010 (Bankr. S.D. Fla. Case No.
10-20941).  Joel M. Aresty, Esq., who has an office in Miami
Florida, assists the Company in its restructuring effort.  The
Company listed $13,000,000 in assets and $10,000,000 in debts.


BISTATE BISTRO: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Bistate Bistro Associates, L.P.
        733 Crown Industrial Court, Suite V
        Chesterfield, MO 63005
        Tel: (816) 842-8600

Bankruptcy Case No.: 10-10710

Chapter 11 Petition Date: June 2, 2010

Court: U.S. Bankruptcy Court
       Eastern District of Missouri (Cape Girardeau)

Judge: Barry S. Schermer

Debtor's Counsel: Paul M. Hoffmann, Esq.
                  Stinson Morrison Hecker LLP
                  1201 Walnut
                  Kansas City, MO 64106-2150
                  Tel: (816) 691-2600
                  E-mail: phoffmann@stinson.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
$44,409 while debts total $7,377,687.

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/moeb10-10710.pdf

The petition was signed by Bradley F. Bax, vice president and
chief financial officer.

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Fayetteville Bistro, LLC              10-_____            06/02/10
Primrose Restaurant Properties, LP    10-10711            06/02/10


BUTTERMILK TOWNE: Debtor, Not Lender, Gets Control of Rents
-----------------------------------------------------------
WestLaw reports that an assignment of rents in a mortgage which a
Chapter 11 debtor had executed prepetition to obtain financing for
a commercial construction project, whereby the debtor effected an
"absolute transfer and assignment" of rents in order "to secure"
its obligations to the mortgagee, which assignment, pursuant to a
"durational" limitation in the mortgage documents, was to become
"null and void at such time as [the debtor] shall have
indefeasibly paid all amounts outstanding," was not an "absolute
assignment" of the rents under Kentucky law.  Rather, it was in
the nature of a "security interest," which did not prevent the
rents from being included in the "property of the estate" or
foreclose the debtor from obtaining leave to utilize the rents
pursuant to a cash collateral order.    In re Buttermilk Towne
Center, LLC, --- B.R. ----, 2010 WL 1976772 (Bankr. E.D. Ky.).

                     About Buttermilk Towne

Cincinnati, Ohio-based Buttermilk Towne Center LLC owns and
operates a commercial real estate development, known as Buttermilk
Towne Center, located in Crescent Springs, Kenton County,
Kentucky.

The Company sought Chapter 11 bankruptcy protection (Bankr. E.D.
Ky. Case No. 10-21162) on April 28, 2010.  Timothy J. Hurley,
Esq., Marlene Reich, Esq., George D. Molinsky, Esq., and Paige
Leigh Ellerman, Esq., at Taft Stettinius & Hollister LLP in
Cincinnati, represent the Debtor.  The Company estimated its
assets and debts at $10,000,001 to $50,000,000.


CABLEVISION SYSTEMS: Delays Exchange Offer for 8-5/8% Sr. Notes
---------------------------------------------------------------
Cablevision Systems Corporation has delayed a planned offer to
exchange $900,000,000 aggregate principal amount of outstanding,
unregistered Cablevision 8-5/8% Senior Notes due 2017 for new,
substantially identical 8-5/8% Series B Senior Notes due 2017.
The expiration date of the Exchange Offer has not been set yet.

On May 21, 2010, the Company filed Amendment No. 1 to Form S-4
Registration Statement under the Securities Act of 1933 to delay
the effective date of the registration of new 8-5/8% Series B
Senior Notes due 2017.

A full-text copy of the Amendment No. 1 to Form S-4 is available
at no charge at http://ResearchArchives.com/t/s?6448

On May 21, 2010, Cablevision held its Annual Meeting of
Shareholders at which (i) the holders of Cablevision NY Group
Class A common stock voted upon the election of Zachary W. Carter,
Thomas V. Reifenheiser, John R. Ryan, Vincent Tese and Leonard Tow
to Cablevision's Board of Directors for one-year terms, (ii) the
holders of Cablevision NY Group Class B common stock  voted upon
the election of Rand V. Araskog, Frank J. Biondi, Charles F.
Dolan, James L. Dolan, Kathleen M. Dolan, Kristin A. Dolan,
Patrick F. Dolan, Thomas C. Dolan, Brad Dorsogna, Deborah Dolan-
Sweeney, Brian G. Sweeney and Marianne Dolan-Weber to the Board
for one-year terms and (iii) the Class A shareholders and the
Class B shareholders, voting together as a single class, voted
upon the ratification of the appointment of KPMG LLP as
Cablevision's independent registered public accounting firm for
the 2010 fiscal year.

The Class A shareholders elected all five director nominees on
which they voted, the Class B shareholders approved all 12
director nominees on which they voted and the Class A shareholders
and Class B shareholders approved the ratification of the
appointment of KPMG LLP as Cablevision's independent registered
public accounting firm for the 2010 fiscal year.

                     About Cablevision Systems

Headquartered in Bethpage, New York, Cablevision Systems Corp. is
predominantly a domestic cable TV multiple system operator serving
approximately 3.1 million subscribers in and around the New York
metropolitan area.  Among other entertainment-and media-related
business ventures, the company also owns and distributes
programming to cable television and direct broadcast satellite
providers throughout the United States through its Rainbow
National Services subsidiary.

Cablevision Systems reported net earnings of $285.3 million on
revenue of $7.77 billion for the year ended December 31, 2009,
compared with a net loss of $236.17 million on revenue of
$7.23 billion for 2008.  Cablevision reported $9.32 billion in
total assets and $14.47 billion in total liabilities, resulting in
a $5.16 billion stockholders' deficit as of December 31, 2009.

                          *     *     *

Cablevision carries Standard & Poor's 'BB' corporate credit rating
and Moody's "Ba2" Corporate Family and Probability of Default
Ratings.


CARTHEW BAY: Swings to C$88,000 Net Loss in Q1 2010
---------------------------------------------------
Carthew Bay Technologies, Inc., reported a net loss of C$88,217
for the three months ended March 31, 2010, compared with net
income of C$158,995 for the same period ended March 31, 2009.
For the three month period ended March 31, 2010, the only revenue
was interest earned on investments.

The Company's balance sheet as of March 31, 2010, showed
C$2,791,863 in assets, C$141,673 of liabilities, and C$2,650,190
of stockholders' equity.

The Company currently has no commercial operations and has no
assets other than cash and cash equivalents and investments.  The
Company believes these conditions raise substantial doubt about
its ability to continue as a going concern.

A full-text copy of the interim quarterly report for the three
months ended March 31, 2010, is available for free at:

               http://researcharchives.com/t/s?644d

Based in Toronto, Canada, Carthew Bay Technologies, Inc. (OTC BB:
CWBYF) -- http://www.carthewbaytechnologies.com/-- ceased to be a
developer of fuel cell technology when it sold substantially all
of its assets in August of 2007 to MKU Canada Inc.  The Company
intends to us the cash proceeds from the asset sale and its US
public listing to seek out new business opportunities.


CATALYST PAPER: Appoints 4 New Members to Board of Directors
------------------------------------------------------------
Catalyst Paper Corporation on May 31, 2010, appointed four new
members to its Board of Directors.

"I would like to welcome the new directors who bring extensive
global business and finance experience as we continue to manage
the impacts of industry consolidation and restructuring," said
Board Chairman Michel Desbiens.

Joining the Catalyst Board is Douglas Hayhurst, formerly an
executive with IBM Canada Business Consulting Services and
PricewaterhouseCoopers.  He has consulted globally for a wide
range of heavy manufacturing industries, including forest, paper
and packaging, chemicals and aerospace.  Mr. Hayhurst serves on
several boards including Canexus Income Fund, Northgate Minerals
Corporation and The Nature Conservancy of Canada. He holds a B.A.
in Business Administration from the Richard Ivey School of
Business at the University of Western Ontario, is a Fellow of the
Institute of Chartered Accountants of British Columbia (FCA), and
in 2006 received the designation of ICD.D from the Institute of
Corporate Directors.

Also joining the Board is Allan Miller, senior counsel with Weil
Gotshal & Manges LLP, a New York based international law firm with
offices in 10 countries.  Mr. Miller has, over the past 30 years,
concentrated in business reorganizations, including Chapter 11
reorganizations, out-of-court debt restructuring, secured
financings and related investments.  An author and lecturer in the
field of his specialty, Mr. Miller was admitted to the bars of the
US Court of Appeals 2nd Cir.; US Court of Appeals 3rd Cir.; US
Court of Appeals 5th Cir.; Eastern District New York; New York
State; Southern District New York and the US Supreme Court.

Dallas Ross is a partner and founder of the B.C. based private
investment partnership, Kinetic Capital Partners, and was
previously managing director, Investment Banking and Mergers &
Acquisitions with ScotiaMcLeod Inc. where he began his career in
1985. He holds a B. Comm. (Honors) from UBC and qualified as a
chartered accountant with the ICABC in 1983. He brings extensive
investment, restructuring and transactions experience in a wide
number of industry sectors. Mr. Ross currently serves on a number
of boards including Rogers Sugar Ltd., Westshore Terminals Ltd.,
Aginfolink Inc., Fare Logistics Ltd., Inovise Medical Inc. and
Crofton House School and previously was on the Board of
Futureshop.com.

Geoff Plant, Q.C., a partner with Heenan Blaikie LLP since 2005,
is the former Attorney General of British Columbia. Mr. Plant has
advised extensively on land and resource negotiations with First
Nations, as well as being appointed in 2006 to lead the province's
first comprehensive review of post-secondary education in British
Columbia in 40 years. His report was released in 2007. Mr. Plant
serves on various community boards and holds law degrees from the
University of Southampton (1980), Dalhousie University (1981) and
the University of Cambridge (1989).

Catalyst also accepted the resignation of Gary Collins who has
served the Board for the past five years.

"I would like to extend our thanks to outgoing director, Gary
Collins, for his service to the Board during a period of
significant change in our business," said Mr. Desbiens.

                       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: Appoints Denis Jean as Interim President & CEO
--------------------------------------------------------------
Catalyst Paper on May 21 unveiled the appointment of Denis Jean, a
current director of the Board as the company's interim president
and chief executive officer, effective immediately.

A veteran of the industry, Mr. Jean was president and chief
executive officer of Cascades Fine Papers Group Inc. from 2002 to
2005.  Prior to that, he held executive roles with Abitibi
Consolidated Inc. and Donohue Inc. Mr. Jean holds a BSc.A
(electrical engineering) from Universite de Montreal.

"We are fortunate to be able to draw on the industry expertise of
a fellow director," said Catalyst Board Chairman Michel Desbiens.
"Denis knows the industry well and he understands the company's
challenges having served as a director on the Board since 2007. We
appreciate his willingness to serve as the company's interim chief
executive as the search for Mr. Garneau's successor is completed."

Mr. Garneau announced his resignation as Catalyst president and
CEO in late January and the Board initiated an executive search at
that time.  Mr. Garneau left the company and the board effective
May 28, 2010 to return to Eastern Canada to be closer to his
family.

Mr. Jean's appointment will enable the Board to complete the
executive search with assurance of a seamless transition to a new
CEO in due course.

On May 19, Catalyst Paper closed the private placement of
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 net proceeds of the offering
of the Class B senior secured notes will be used for general
corporate purposes.

The Class B senior secured notes and the related guarantees have
not been, and will not be, registered under the Securities Act, or
any state securities laws, and may not be offered or sold in the
United States absent registration or an applicable exemption from
the registration requirements.  The Class B senior secured notes
are being offered and sold pursuant to an exemption from the
prospectus requirements under applicable Canadian securities law.

                       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.


CEMTREX INC: Posts $157,300 Net Loss for Q1 2010
------------------------------------------------
Cemtrex, Inc., filed its quarterly report on Form 10-Q, reporting
a net loss of $157,300 on $1,015,177 of revenue for the three
months ended March 31, 2010, compared with net income of $121,671
on $1,753,662 of revenue for the same period ended March 31, 2009.

The Company's balance sheet as of March 31, 2010, showed
$1,680,090 in assets and $1,758,020 of liabilities, for a
stockholders' deficit of $77,930.

As of March 31, 2010, the Company has an accumulated deficit of
$185,259 and has losses year to date totaling $190,216.  The
Company's current business plan requires additional funding beyond
its anticipated cash flows from operations.  The Company believes
these and other factors raise substantial doubt about its ability
to continue as a going concern.

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

               http://researcharchives.com/t/s?641f

Farmingdale, N.Y.-based Cemtrex, Inc. is a Delaware corporation
that designs, engineers, assembles and sells emission monitoring
equipment and instruments through its MIP division to measure
opacity, mercury, sulfur oxides, hydrocarbons, nitrogen oxides,
ammonia, carbon dioxide and oxygen in flue gases discharging the
stacks in industries such as:  chemicals,  pulp and paper, steel,
power, cement, coal  and  petrochemical.


CERAGENIX CORPORATION: Voluntary Chapter 11 Case Summary
--------------------------------------------------------
Debtor: Ceragenix Corporation
        fka Osmotics Pharma, Inc.
        1444 Wazee St., Suite 210
        Denver, CO 80202

Bankruptcy Case No.: 10-23822

Chapter 11 Petition Date: June 2, 2010

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

Judge: Howard R. Tallman

Debtor's Counsel: Steven T. Mulligan, Esq.
                  4582 S. Ulster St. Pkwy., Suite 1650
                  Denver, CO 80237
                  Tel: (720) 488-0220
                  E-mail: smulligan@bsblawyers.com

Estimated Assets: $0 to $50,000

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

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

The petition was signed by Steven S. Porter.

Debtor-affiliate that filed separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Ceragenix Pharmaceuticals, Inc.
    fka OnSource Corporation          10-23821             6/02/10
  Assets: $0 to $50,000
  Debts: $10,000,001 to $50,000,000


CHARLEMAGNE OF OKLAHOMA: Case Summary & Creditors List
------------------------------------------------------
Debtor: Charlemagne of Oklahoma, LLC
        P.O. Box 14203
        Oklahoma City, OK 73113

Bankruptcy Case No.: 10-13382

Chapter 11 Petition Date: June 2, 2010

Court: U.S. Bankruptcy Court
       Western District of Oklahoma (Oklahoma City)

Judge: Niles L. Jackson

Debtor's Counsel: Mark B. Toffoli, Esq.
                  Andrews Davis
                  100 North Broadway Suite 3300
                  Oklahoma City, OK 73102
                  Tel: (405) 235-8776
                  E-mail: mtoffoli@andrewsdavis.com

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

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

A copy of the Company's list of 5 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/okwb10-13382.pdf

The petition was signed by Steven P. Murry and Stacy A. Murry,
members of Brookeman Perry, LLC, sole member.


CHARTER COMMUNICATIONS: Extends Exchange offer for CCH II Notes
---------------------------------------------------------------
Charter Communications, Inc.'s subsidiary, CCH II, LLC, is
extending the expiration date of its offer to exchange $976.8
million of the outstanding $1.766 billion aggregate principal
amount of CCH II Senior Notes due 2016, which are not registered
under the Securities Act of 1933, for a like aggregate principal
amount of their new Senior Notes with the same due date, which are
registered under the Securities Act of 1933.  The outstanding
notes were issued in a private placement in November 2009.

The exchange offer is being made pursuant to a Prospectus dated
April 30, 2010, and related Letter of Transmittal, which more
fully set forth the terms of the exchange offer.  The exchange
offer was originally scheduled to expire on Friday, June 4, 2010,
at 5:00 PM Eastern Time (ET).  The exchange offer has been
extended so that it is now scheduled to expire at 5:00 PM ET, on
Friday, June 11, 2010, unless further extended.  All other terms
of the exchange offer remain unchanged.

The exchange agent for the exchange offer is The Bank of New York
Mellon Trust Company, NA, and the information agent is Global
Bondholder Services Corporation.

                    About Charter Communications

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.


CHEMTURA CORP: Claim Transfers for March-May Aggregate $19.3MM
--------------------------------------------------------------
Claims that traded hands in March 2010 in the cases of Chemtura
Corporation and its debtor affiliates total approximately
$9,500,000.

As previously reported, more than 30 creditors transferred their
claims, totaling approximately $8,300,000, for the period from
March 1 to 20, 2010.

For the remainder of March, specifically from March 22 to 30,
about 14 creditors transferred their claims, totaling more than
$1,180,000, against the Debtors to these entities:

  Transferee                Transferor              Claim Amount
  ----------                ----------              ------------
  Corre Opportunities       Norit Americas, Inc.         $11,185
  Fund L.P.                 Monroe Rubber & Gasket         8,294
                            Monroe Rubber                  1,663
                            Falco Lime, Inc.              37,729
                            Evonik Rohmax USA             77,020
                            Mississippi Lime Company       3,960

  Longacre Opportunity      Mactec Engineering and        13,980
  Fund L.P.                 Consulting, Inc.              25,093
                                                          12,296
                                                           2,722

                            Jones Hamilton Company       174,929
                                                         223,041
                                                          16,876
                                                          28,980
                                                         174,380

  Longacre Opportunity      McKernan Packaging            42,124
  Offshore Fund, Ltd.

  The Seaport Group LLC     Dicalite Minerals Corp.       64,450

  Claims Recovery Group     Standard Services              2,463
  LLC

  Blue Heron Micro          Military Business                322
  Opportunities Fund LLP    Management

  Liquidity Solutions,      Pivotal Utilities            214,115
  Inc.                      Holding, Inc.

                            Cohen & Grigsby P.C.          31,021

  Contrarian Funds LLC      Industrial Chemicals,         20,191
                            Inc.

                       Claim Transfers for April

For the month of April 2010, approximately 34 creditors in the
Debtors' cases transferred claims, totaling more than $5,150,000,
to these entities:

  Transferee                Transferor              Claim Amount
  ----------                ----------              ------------
  Blue Heron Micro          Paulding Putnam                 $684
                            Electric Co-Op

                            Tecnetics Industries, Inc.       332
                            Auto Mart/Mark Matthews          360

  Corre Opportunities       Murray Equipment              16,902
                            Trinity Transport              7,080

                            Sea-Land Chemical              7,512
                            Company

                            Seacoast Environmental         2,962
                            Services, Inc.

                            Supermercado Econo             4,514
                            Nunez, Inc.

                            Dual State Fire                6,588
                            Protection LLC

                            Safety South Supplies,        12,196
                            Inc.

                            Shirley Hollywood &          103,317
                            Associates

                            Borealis Compounds LLC         8,135
                            Proliance Energy LLC          13,267
                            S&S Sprinkler Co LLC           8,794

  95 South Holdings         Consolidated Electrical        2,093
                            Distributors, Inc.

  Pioneer Credit            Coface North America         658,331
  Opportunities Fund L.P.   Insurance Company as
                            assignee for CIBA
                            Corporation

                            TM Deer Park Services         96,907
                            Limited Partnership

                            LG Chem America, Inc.         50,439
                            WCA Waste Corporation         19,185
                            Spar Group, Inc.              24,641
                            Stratus Group, Inc.           24,524

  Longacre Opportunity      Marblegate Special         1,174,653
                            Opportunities Master       1,184,914
                            Fund L.P.

                            Geographics, Inc.            102,689
                                                         102,689
                                                         104,170

                            Hill Oil Company              15,233
                            James P. Hill, Inc.           15,214

  Longacre Opportunity      IBT, Inc.                     16,525
  Offshore

  Liquidity Solutions       Sprague Energy               695,000
                            Corporation

                            Evonik Degussa               165,233
                            Corporation

                            Maxim Flexpac, Inc.          105,058

  Archon Bay Capital LLC    JT Homes, Inc.                 9,688

  Contrarian Funds LLC      Excel Express, Inc.          141,290

                            Wood Ridge Pallet             31,640
                            Company                       29,260
                                                          26,880

                            Foam Partner Swisstex,        20,251
                            Inc.                          20,250

                            Alliance Shippers             38,755

  United States Recovery    Consolidated Electrical       88,482
  III LP                    Distributors

                      Claim Transfers for May

For the month of May 2010, approximately 27 creditors in the
Debtors' cases transferred claims, totaling more than $4,764,686,
to these entities:

  Transferee                Transferor              Claim Amount
  ----------                ----------              ------------
  Longacre Opportunity      Weil Gotshal &              $851,961
                            Manges LLP                   842,590

                            Maddox Nix Bowman &           25,000
                            Zoeckler PC

                            Innovative Packaging,         61,659
                            Inc.                          68,659

                            Meadwestvaco Saint           270,590
                            Gobain Calmer                 15,939

                            Service Pump &                 5,178
                            Compressor

  Corre Opportunities       Chemviron                      7,115
                            TDC LLC                      273,424
                                                           4,392

                            Schuetz Container Sys         58,526
                           (Shanghai)                     73,482

                            Decker Transport              10,663
                                                          50,139

                            Archon Bay Capital LLC         9,688

                            Elementis America Shared      25,760
                            Services

  Jefferies Leveraged       3 V Incorporated              29,227
  Credit Products LLC

  York Global Finance       Longacre Opportunity         851,961
  BDH LLC                   Fund L.P.

  Claims Recovery Group     Gator Supply Co., LLC          6,607
  LLC
                            Southland Fire & Safety        5,107
                            Co

                            Chemtech Consultants, Inc.     3,135
                            Eriez Manufacturing Co         1,207

                            Viger Agricultural Research,   2,150
                            Inc.

                            Innovative Marking Systems     3,945

  Pioneer Credit            USA Trucks, Inc.              55,551

                            Triplex, Inc.                 96,730
                                                           5,660

                            Akzo Nobel Surface            52,760
                            Chemistry LLC                536,262

  Fair Harbor Capital LLC   Basin Water MPT, Inc.          1,950
                                                           1,462

  Liquidity Solutions       A3M Vacuum Service, Inc.       1,365
                            HB Group Incorporated          3,293
                            J B Hunt                      15,133

  Southpaw Credit           First Industrial LP          408,326
  Opportunity Master
  Fund LP

  Hain Capital Holdings,    Deloitte Touche Tohmatsu      28,090
  Ltd.                      India Private Limited

                      About Chemtura Corp.

Based in Middlebury, Connecticut, Chemtura Corporation (CEM) --
http://www.chemtura.com/-- with 2008 sales of $3.5 billion, is a
global manufacturer and marketer of specialty chemicals, crop
protection products, and pool, spa and home care products.

Chemtura Corporation and 26 of its U.S. affiliates filed voluntary
petitions for relief under Chapter 11 on March 18, 2009 (Bankr.
S.D.N.Y. Case No. 09-11233).  M. Natasha Labovitz, Esq., at
Kirkland & Ellis LLP, in New York, serves as bankruptcy counsel.
Wolfblock LLP serves as the Debtors' special counsel.  The
Debtors' auditors and accountant are KPMG LLP; their investment
bankers are Lazard Freres & Co.; their strategic communications
advisors are Joele Frank, Wilkinson Brimmer Katcher; their
business advisors are Alvarez & Marsal LLC and Ray Dombrowski
serves as their chief restructuring officer; and their claims and
noticing agent is Kurtzman Carson Consultants LLC.

As of December 31, 2008, the Debtors had total assets of
$3.06 billion and total debts of $1.02 billion.

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


CHEMTURA CORP: Opens Technical Center in Nanjing, China
-------------------------------------------------------
Chemtura Corporation announced the opening of a new Application
Development Center (ADC) in the Nanjing Economic & Technological
Development Zone, serving as Chemtura's technical center of
excellence for its businesses in the Asia/Pacific region.

"The ADC is an immediate investment in science, laboratory
technology, research, development and innovation in China," said
Chemtura Chairman, President and Chief Executive Officer Craig A.
Rogerson.  "It represents the kind of work and jobs that emphasize
education, innovation, creativity, customer focus, and world-class
solutions that Chemtura brings to the marketplace."

Mr. Rogerson added that Chemtura "is very interested in
cooperative relationships with government economic and
technological development agencies, universities and research
institutes, and other engines of innovation and growth.  We highly
value mutual support and participation with these entities."

The ADC consists of a group of state-of-the-art laboratories
serving as a technical center of excellence for Chemtura
businesses in the Asia-Pacific region, including
AgroSolutions(TM), Antioxidant/UV Stabilizers, Consumer Products,
Flame Retardants, Petroleum Additives, and Urethanes.

"It will allow us to better serve our growing customer base in
China and the Asia-Pacific region and provide timely and
regionally attuned technical service," said Li Meng, chairman of
Chemtura's Asia Business Council and the Asia-Pacific commercial
director for Urethanes and Petroleum Additives.  "Chemtura's
Chinese customers are making huge technical advances every year,
and the Chemtura ADC facility will allow significant technical
synergies, driving growth for Chemtura's customers throughout the
Asia/Pacific region."

According to Charles Guo, Director of the ADC, external
initiatives will be supported such as development of new
formulations aimed at local customer needs, evaluation of new-
product opportunities, training of local distributors and key
customers to increase their competitiveness, provision of
technical support for tolling or contract manufacturing, and the
enhancement of Chemtura product quality.  The ADC also will
support internal employee training, promotional activities and
regulatory requirements, quality control on locally sourced
material, and transfer to the local technical team of knowledge
gained through research and development, Mr. Guo said.

"We feel the ADC truly demonstrates Chemtura's commitment to
customers in the marketplace and to our own employees," said Mr.
Guo.

Chemtura recently expanded its region headquarters in Shanghai,
and is recruiting additional staff in Shanghai, Nanjing and
elsewhere to fulfill its growth plan in China and the region.

                      About Chemtura Corp.

Based in Middlebury, Connecticut, Chemtura Corporation (CEM) --
http://www.chemtura.com/-- with 2008 sales of $3.5 billion, is a
global manufacturer and marketer of specialty chemicals, crop
protection products, and pool, spa and home care products.

Chemtura Corporation and 26 of its U.S. affiliates filed voluntary
petitions for relief under Chapter 11 on March 18, 2009 (Bankr.
S.D.N.Y. Case No. 09-11233).  M. Natasha Labovitz, Esq., at
Kirkland & Ellis LLP, in New York, serves as bankruptcy counsel.
Wolfblock LLP serves as the Debtors' special counsel.  The
Debtors' auditors and accountant are KPMG LLP; their investment
bankers are Lazard Freres & Co.; their strategic communications
advisors are Joele Frank, Wilkinson Brimmer Katcher; their
business advisors are Alvarez & Marsal LLC and Ray Dombrowski
serves as their chief restructuring officer; and their claims and
noticing agent is Kurtzman Carson Consultants LLC.

As of December 31, 2008, the Debtors had total assets of
$3.06 billion and total debts of $1.02 billion.

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


CHEMTURA CORP: U.S. Trustee Reviews November-February Fees
----------------------------------------------------------
Diana G. Adams, the United States Trustee for Region 2, says that
she has reviewed the applications of the retained professionals
of the Debtors seeking awards of interim compensation and
reimbursement of out-of-pocket expenses for the period from
November 1, 2009 through February 28, 2010.

The Retained Professionals seek fees totaling $23,505,065 and
reimbursement of out-of-pocket expenses totaling $994,060.

The U.S. Trustee objects to $200,000 in fees asked by Morgan
Lewis & Bokius LLP because the firm has not met its burden to
show that the services it rendered resulted in benefit to the
Debtors' estate and the description of Morgan Lewis' time entries
are vague.

In response to the comments and concerns of the U.S. Trustee, the
other Retained Professionals have agreed to voluntarily reduce
their requests for interim compensation by $21,246 in the
aggregate and to voluntarily reduce their reimbursement of out-
of-pocket expenses by $11,535.

The U.S. Trustee tells the Court that at her request, all of the
Retained Professionals have agreed to the imposition of a
percentage holdback for the Fee Period, to be held pending the
final resolution of the cases.

                     Morgan Lewis Responds

Morgan Lewis asserts that the U.S. Trustee's objection to its fee
request is misplaced.  The firm insists that the services if
rendered for the Debtors have been both necessary and beneficial
in ensuring that the Debtors are in compliance with both United
States and foreign law.

Richard S. Toder, Esq., a member of Morgan Lewis, says that due
to the highly sensitive and confidential nature of his firm's
investigation fully explains the reason for the vague
descriptions, which are the subject of the U.S. Trustee's
objection.

Morgan Lewis is employed by the Debtors to provide professional
services relating to various matters, including the conduct of a
privileged and highly confidential assessment of the policies,
procedures and controls governing the Debtors' customer incentive
programs and providing legal advice and counsel to the Debtors on
matters related to the assessment.

In light of the nature and scope of the services it rendered,
Morgan Lewis asserts that the fees for which reimbursement is
sought were reasonable and necessary and the time record entries
sufficiently descriptive.


CHINA DU: Posts US$49,000 Net Loss for Q1 2010
----------------------------------------------
China Du Kang Co., Ltd., filed its quarterly report on Form 10-Q,
reporting a net loss of $49,074 on $490,242 of revenue for the
three months ended March 31, 2010, compared with a net loss of
$154,042 on $321,294 of revenue for the same period ended
March 31, 2009.

The Company's balance sheet as of March 31, 2010, showed
$9,496,059 in assets and $16,684,401 of liabilities, for a
shareholders' deficit of $7,188,342.

The Company had an accumulated deficit of $17,485,512 at March 31,
2010.  In addition, the Company had a working capital deficiency
of $13,491,305 and a shareholders' deficiency of $7,188,342 at
March 31, 2010.

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

               http://researcharchives.com/t/s?6420

Headquartered in Shaanxi, PRC, China Du Kang Co., Ltd. (OTC: CDKG)
was incorporated as U.S. Power Systems, Inc. in the State of
Nevada on January 16, 1987.  The Company manufactures, sells,
licenses and distributes a proprietary line of white wines that
are generally known in China under the heading Du Kang.  Du Kang
is a generic description, like "vodka" or "merlot" and is one of
the most famous Chinese white wine brands.

                           *     *     *

Keith Z. Zhen, CPA, in Brooklyn, N.Y., expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditor noted that the Company has incurred an
operating loss in 2009 and 2008 and has a working capital
deficiency and a shareholders' deficiency as of December 31, 2009.


CHINESEWORLDNET.COM INC: Recurring Losses Cue Going Concern Doubt
-----------------------------------------------------------------
Chineseworldnet.com Inc. filed on June 3, 2010, its annual report
on Form 20-F for the fiscal year ended December 31, 2009.

Chang Lee LLP, in Vancouver, Canada, expressed substantial doubt
about the Company's ability to continue as a going concern.  The
independent auditors noted that the Company has incurred recurring
losses from inception and requires additional financing for its
intended business operations.

The Company reported a net loss of $402,209 on $906,455 of revenue
for 2009, compared to a net loss of $1,004,835 on $1,011,322 of
revenue for 2008.

The Company's balance sheet as of December 31, 2009, showed
$1,933,021 in assets, $583,959 of liabilities, and $1,349,062 of
stockholders' equity.

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

               http://researcharchives.com/t/s?6451

Headquartered in the Cayman Islands, Chineseworldnet.com Inc. has
four principal businesses: (1) the Internet financial portal
business, conducted under the ChineseWorldNet.com brand via the
"www.chineseworldnet.com" website; (2) the investor relations and
public relations business, conducted under the NAI500 brand via a
number of media channels including the "www.nai500.com" and
"en.nai500.com" websites, as well as certain other promotional
services; (3) the North America and Greater China cross-border
business partnering conferences business, conducted via the brand
of Global Chinese Financial Forum and its "www.gcff.ca" website;
and (4) the online platform business, conducted under the Rong Zhi
Tong Online brand via the "www.rzto.com" website.


CHRYSLER LLC: Claim Transfers Only Aggregate $20,833 for May
------------------------------------------------------------
Wisconsin Gas LLC, doing business as WE Energies, transferred its
Claim Nos. 7168 and 7170 to Liquidity Solutions, Inc.  The
transferred amount of the two claims aggregates $20,833.

The total amount of the claims transferred for the month of May is
lower compared to the total amount of claims traded in April.

                       About Chrysler Group

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

                        About Chrysler LLC

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

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

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


CHRYSLER LLC: New Chrysler Slashes Warranty Claims by 48%
---------------------------------------------------------
Chrysler Group LLC and two other Detroit-based auto makers have
slashed warranty claims by more than 40% in recent years,
according to a June 1 report by Reuters.

Warranty claims against Chrysler Group are down 48% in the last
two years.  They dropped 30% in 2008 to their lowest level, and
continued to fall to a record in 2009, Reuters reported, citing
internal warranty data that tracks problems reported during the
first 90 days of ownership.

Warranty claims have fallen 45% at General Motors Co. from 2007
levels while Ford Motor Co. reduced warranty repair rates an
average of over 40% in each global business region from 2007
through last year, the report said.

The reduction in warranty claims saves the auto makers much-needed
money and boosts resale values, according to the report.  Those
savings contribute to the auto makers' operating profits and help
repair their reputations among consumers.

Doug Betts, senior vice president in charge of quality for
Chrysler Group, said the cost per unit sold was reduced by a total
of $240 million in 2008, Reuters reported.

"It really says that there have been some substantial gains made
in terms of the quality of the American automobile," Reuters
quoted Erich Merkle, an auto analyst of Autoconomy.com in Grand
Rapids, as saying.  Mr. Merkle added that customers are noticing
the improvements among vehicles produced by the three auto makers.

                       About Chrysler Group

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

                        About Chrysler LLC

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

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

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


CHRYSLER LLC: Objects to Electronic Data Systems Claim
------------------------------------------------------
Old Carco Liquidation Trust asks the U.S. Bankruptcy Court to
disallow Claim No. 8254 filed by Electronic Data Systems LLC d/b/a
HP Enterprise Services f/k/a Electronic Data Systems Corporation.

Frank A. Oswald, Esq., at Togut Segal & Segal LLP, in New York,
contends that the claim is without merit due to the failure of EDS
to perform certain promised services.

The EDS Claim is a general unsecured claim for $33,582,662 for
damages as alleged in a lawsuit filed by EDS against the Debtors
on 2008 in the District Court of Collin County, Texas.

The Debtors filed an answer to the Complaint asserting a general
denial to EDS' allegations.  The Debtors also asserted
counterclaims for damages on the bases of fraud, breach of
contract, and bad faith.

Mr. Oswald points out that the Liquidation Trust is entitled to
damages, as set in the Counterclaims, that far exceed the amount
sought in the EDS Claim.  The Liquidation Trust says that it is
entitled to damages in excess of $200,000,000 from EDS.

                       About Chrysler Group

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

                        About Chrysler LLC

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

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

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


CHRYSLER LLC: Objects to Summit County's Tax Claims
---------------------------------------------------
Old Carco Liquidation Trust asks the U.S. Bankruptcy Court to
disallow or, in the alternative, to reclassify the tax claims of
John A. Donofrio, the fiscal officer of Summit County, Ohio.  The
Claims are Claim Nos. 28465 and 28466 filed against Debtor Old
Carco Motors LLC.

A decade before the Petition Date, the Debtors, the City of
Twinsburg, Ohio and Summit County, entered into two tax incentive
agreements associated with Old Carco's Twinsburg stamping plant.
Specifically, (a) on June 21, 1999, the Parties entered into an
initial Summit County Enterprise Zone Agreement; and (b) on
December 15, 2000, the Parties entered into a second Summit County
Enterprise Zone Agreement.

Corinne Ball, Esq., at Jones Day, in New York, relates that
generally, under the Agreements, in exchange for the Debtors'
making certain personal property investments and maintaining
certain employee levels at the Plant, Twinsburg and Summit County
granted the Debtors a 10-year, 50% property tax exemption on
eligible machinery, equipment and inventory, beginning the year
after Old Carco placed any personal property into service at the
Plant.

Under each of the Agreements, Old Carco began taking its Exemption
in the first year eligible to do so and did not initiate any
additional 10-year periods for Exemption for property placed into
service after the initial year, Ms. Ball says.

On October 2009, Mr. Donofrio filed (a) Claim No. 28465 asserting
a priority claim of $3,736,928 in connection with the 1999
Agreement; and (b) Claim No. 28466 for $4,223,862 in connection
with the 2000 Agreement.

Ms. Ball points out that the Summit County Claims included the
Agreements as exhibits but do not specify the factual grounds on
which Mr. Donofrio asserts that the claims are entitled to
priority, nor the factual or legal grounds on which the Fiscal
Officer is asserting and calculating Summit County's asserted
claims and damages.

The Debtors subsequently filed their 12th Omnibus Objection where
they sought to reclassify the Summit County Claims, among other
claims, as general unsecured, nonpriority claims on the basis that
the Summit County Claims do not satisfy the requirements for
priority status under Section 507 of the Bankruptcy Code.

On March 2010, the Court authorized the Debtors to sell the Plant.

Subsequently, the Fiscal Officer filed a response to the 12th
Omnibus Objection, where Mr. Donofrio alleged that:

  (a) for the first time, the sale and closure of the Plant
      "constitutes a fundamental failure of the Debtors to
      fulfill their obligations under [the Agreements]"; and

  (b) the damages sought in the Summit County Claims are "taxes
      due a governmental unit and are, therefore, priority
      claims.

Ms. Ball contends that in the Response, Mr. Donofrio provides no
legal support, either for the argument that the Debtors somehow
breached the Agreements or the argument that the Summit County
Claims are entitled to priority.

The Court subsequently sustained the 12th Omnibus Objection but
adjourned it with respect to the Summit County Claims.

                     Summit County Responds

Mr. Donofrio says that the damage suffered by Summit County as a
result of the Debtors' failure to fulfill their obligations under
the Agreements is devastating.  He notes that the city of
Twinsburg is now a ghost town and local businesses worry that they
will not be able to stay in business for long now that the
Twinsburg plant is closing.

The purpose of the Agreements were to encourage the Debtors to
keep their business and facilities in Ohio and to keep and build
employment at the Twinsburg plant, Mr. Donofrio further relates.
He adds that the incentive offered to the Debtors was the
exemption from a significant amount of personal property taxes.

"[The Debtors have] enjoyed the benefits of the agreement, but now
wants to walk away from the Agreements with no further liability,"
Mr. Donofrio tells the Court.

The Debtors find justification for their belief that they have no
further obligations under the Agreements with their allegation
that Ohio has repealed its personal property tax statutes, Mr.
Donofrio tells the Court.  However, he asserts that "this is
incorrect" because Ohio did not repeal its personal property tax
statutes but changed its personal property taxation rules in 2005
and went to a gradual reduction of the percentage of the total
value taxed from 2005 until 2009, when the value went to zero.

Mr. Donofrio further contends that the damages to Summit County as
a result of the sale and closing of the Twinsburg plant are
substantial in terms of job loss, income loss, unemployment costs,
foreclosure, etc.  For this reason, he argues that the enterprise
zone Agreements are not waivers of taxes but exemptions which can
be re-instated by the terms of the Agreements.

For these reasons, Summit County asks the Court to overrule the
Liquidation Trust's Objection.

                       About Chrysler Group

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

                        About Chrysler LLC

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

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

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


CIRCUIT CITY: Clerk Reports Claim Transfers for May
---------------------------------------------------
The Bankruptcy Clerk recorded these claims changing hands in May
2010:
                                          Claim      Amount
Transferor           Transferee           Number   Transferred
----------           ----------           ------   -----------
Forecast Danbury     United States Debt   12811      $967,818
Limited Partnership  Recovery V, LP

JWC/Loftus, LLC      CFH Investments       3982       206,352
                     III, LLC               4162       206,352
                                           12688       895,115
                                           12689       895,115
                                           13709  unliquidated
                                           13710  unliquidated
                                           13771  unliquidated
                                           13851  unliquidated

Manufacturers and    CC Acquisitions,     12718       620,334
Traders Trust        L.P.
Company

Manufacturers and    CC Acquisitions,     12722       804,474
Traders Trust        L.P.
Company

Manufacturers and    CC Acquisitions,     12725       974,171
Traders Trust        L.P.
Company

Manufacturers and    CC Acquisitions,     14523       831,584
Traders Trust        L.P.
Company

Wells Fargo Bank,    CHF Investments       8338  unliquidated
N.A.                 III, LLC

                          June Transfers

The Bankruptcy Clerk recorded these claims changing hands so far
in June 2010:

                                          Claim      Amount
Transferor           Transferee           Number   Transferred
----------           ----------           ------   -----------
380 Towne Crossing,  Contrarian Funds,         -       $25,380
LP                   LLC

Bond-Circuit IX      ORIX Capital          12495       874,900
Delaware Business    Markets, LLC
Trust

FR E2 Property       Southpaw Koufax, LLC  13747        70,161
Holdings, LP

First Industrial     Southpaw Credit        8639     7,179,278
Realty Trust, Inc.   Opportunity Master
                     Fund LP

Johnstown Shopping   United States Debt     7550       962,727
Center LLC           Recovery V, LP

MIA Brookhaven LLC   Contrarian Funds,         -        35,541
                     LLC

Prince George's      Southpaw Koufax, LLC  12050     1,908,190
Station Retail, LLC

Prince George's      Southpaw Koufax, LLC  13054        43,759
Station Retail, LLC

Retail Data LLC      Contrarian Funds,        13        55,265
                     LLC                      427           166

Sennheiser           Contrarian Funds,     11571       400,000
Electronic Corp.     LLC                   13129       150,000

Smart Micro USA No1  United States Debt        -        23,897
LP                   Recovery IV, LLC

PG Station Retail filed Claim No. 13054 in the amount of $50,482.
Pursuant to a settlement agreement with the Debtors, the Claim
has been allowed as an administrative expense claim pursuant to
Section 503(b) of the Bankruptcy Code in the amount of $43,759.

First Industrial filed Claim No. 8639 in the amount of
$8,931,796.  The parties have agreed to allow the Claim in the
stipulated amount of $7,179,278.

FR E2 filed Claim No. 13747 in the amount of $380,839.  The Claim
has been allowed as an administrative expense claim, in the
amount of $70,161, in accordance with a settlement agreement with
the Debtors.

Sennheiser filed Claim No. 11571 in the amount of $714,200; it
was allowed in the amount of $400,000.  Sennheiser's Claim No.
13129 was originally filed for $269,417; it was allowed in the
amount of $150,000.

                        About Circuit City

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

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

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

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

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

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


CIRCUIT CITY: Committee Proposes Arsene as Tax Counsel
------------------------------------------------------
Pursuant to Sections 328(a) and 1103(a) of the Bankruptcy Code,
Rules 2014 and 5002 of the Federal Rules of Bankruptcy Procedure,
and Rule 2014-1 of the Local Bankruptcy Rules for the United
States Bankruptcy Court for the Eastern District of Virginia, the
Official Committee of Unsecured Creditors for Circuit City Stores
Inc. seeks to retain Arsene Taxand as its special French tax
counsel, nunc pro tunc to April 28, 2010.

To recall, the Debtors filed on November 10, 2008, voluntary
petitions in Virginia Bankruptcy Court for relief under Chapter
11 of the Bankruptcy Code.  The Debtors' wholly owned subsidiary,
InterTAN Canada, Ltd., which operated as The Source by Circuit
City, and Tourmalet Corporation, a non-operating holding company,
also applied for protection from their creditors in Canada
pursuant to the Companies' Creditors Arrangement Act in the
Ontario Superior Court of Justice.

Pursuant to an extensive marketing process approved in the
Canadian proceedings, InterTAN Canada and its advisors actively
marketed its business for sale as a going concern.  Bell Canada
and its affiliate, 4458729 Canada Inc., purchased the InterTAN
Canada business, which sale was approved the Bankruptcy Court on
March 20, 2009.

On April 28, the Creditors' Committee decided to retain Arsene
Taxand as its special French tax counsel for the purpose of
evaluating and assessing the Debtors' and their Canadian
subsidiaries' maximum potential liability under French law,
arising from the prepetition cessation of business by InterTAN
Canada's French subsidiary, InterTAN France SNC, Lynn L.
Tavenner, Esq., at Tavenner & Beran PLC, in Richmond, Virginia,
relates.  The firm is a law firm based in Paris, France.

Arsene Taxand will provide various services, including:

  (a) assisting the Creditors' Committee and its Canadian and
      U.S. Professional advisors in analyzing InterTAN Canada's
      potential French tax liability;

  (b) assisting and advising the Advisors with respect to any
      matters that they may request involving issues of French
      law or practice;

  (c) preparing on behalf of the Creditors' Committee any
      pleadings, orders, reports and other legal documents as
      may be necessary in furtherance of the Committee's
      interests and objectives regarding InterTAN Canada's
      potential French tax liability; and

  (d) performing any other services regarding InterTAN Canada's
      potential French tax liability as directed by the
      Creditors' Committee and its Advisors, which may be
      desirable, necessary and proper for the Committee to
      discharge its duties in the Chapter 11 cases.

According to Ms. Tavenner, Arsene Taxand will be paid its
standard hourly rates and reimbursed for work-related expenses.
The hourly rates of the principal attorneys presently designated
to represent the Creditors' Committee are:

         Nicolas Jacquot                 Euro520/$640
         Nikolaj Milbradt                Euro35 /$430

Nicolas Jacquot, Esq., a partner at Arsene Taxand, assures the
Bankruptcy Court that the firm does not hold or represent any
interest adverse to the Debtors, and has no connection, subject
to disclosed relationships, with the Debtors, their creditors,
the U.S. Trustee, or any party-in-interest in matters upon which
the firm is to be retained.

Mr. Jacquot discloses that Arsene Taxand and certain of its
partners and associates represented, represents, and in the
future will likely represent creditors of the Debtors in
connection with matters unrelated to the Chapter 11 cases.  He
attests that Arsene Taxand is a disinterested person under
Section 101(14) of the Bankruptcy Code.

                         Debtors Object

Representing the Debtors, Douglas M. Foley, Esq., at McGuireWoods
LLP, in Richmond, Virginia, provides a background on the French
issue.  On March 30, 2004, Circuit City Stores, Inc. and a wholly
owned subsidiary, Winston Acquisition Corporation entered into an
Acquisition Agreement and Plan of Merger with InterTAN, Inc. --
Old InterTAN -- pursuant to which Winston would purchase all the
outstanding shares of Old InterTAN's common stock and,
thereafter, merge with Old InterTAN to form InterTAN, Inc. -- the
Debtor, "New InterTAN."

At that time, Old InterTAN was parent of Canadian Debtor InterTAN
Canada, Ltd., and indirectly the parent of InterTAN Canada's
affiliates and subsidiaries.  To facilitate the merger, Circuit
City also caused two other subsidiaries -- Ventoux International,
Inc. and Tourmalet Corporation -- to be formed.

Once the merger and related transactions were completed, from top
to bottom, the corporate structure was:

    * Circuit City wholly owned Ventoux;
    * Ventoux wholly owned Tourmalet and owned all of the
      outstanding common shares of New InterTAN;
    * Tourmalet owned all of the preferred shares of New
      InterTAN;
    * New InterTAN owned InterTAN Canada;
    * InterTAN Canada continued to own 99.9% of the partnership
      interests in InterTAN France; and
    * 587225 Ontario Ltd. continued to own 0.1% of the
      partnership interests in InterTAN France SNC, a dormant
      French partnership.

At the time of the merger, InterTAN Canada had ceased doing
business in France, and its "French permanent establishment" had
been judicially liquidated in France, but had not been officially
dissolved.  In addition, InterTAN France had ceased doing
business and had been judicially liquidated in France, but had
not been officially dissolved, Mr. Foley relates.

In connection with the close of Circuit City's 2007 fiscal year
and in furtherance of changes in U.S. GAAP under FIN 48, Circuit
City established a reserve on account of a potential French tax
liability associated with the dissolution and liquidation of
InterTAN Canada and InterTAN France.

As part of the ongoing claim reconciliation and wind down in
Canada, the Debtors, the Canadian Debtors, the Canadian Monitor,
the Creditors' Committee, and their professionals, have been
investigating the validity and extent of any potential French tax
liability.  If InterTAN Canada is liable to France for any taxes,
that liability will likely adversely affect the return of
capital to the Debtors and their estates, according to Mr. Foley.

As part of the Canadian Proceedings, the Canadian Debtors have
retained a French tax counsel.  In addition to the Canadian
Debtors' French tax counsel, recently, the Canadian Monitor
elected to retain French counsel to analyze potential French tax
liabilities and to work in conjunction with the Canadian Debtors'
French counsel.  Consequently, there are currently two French
professionals analyzing potential French tax liabilities, Mr.
Foley notes.

The Debtors have not retained separate French counsel at this
time.  Mr. Foley explains to the Court that, as part of that
process, the Canadian Debtors and the Canadian Monitor have kept
the Debtors and the Creditors' Committee informed.  Until that
process is concluded, the Debtors believe that it may be
premature to retain Arsene Taxand as the firm's services may
duplicative and unnecessary.  However, the Debtors do not object
to the retention on a limited basis.

Hence, the Debtors ask the Bankruptcy Court to impose these
restrictions on the retention of Arsene Taxand:

  (a) Arsene Taxand provide the Debtors and the U.S. Trustee
      with a proposed budget;

  (b) Arsene Taxand advise the Debtors of any material deviation
      from the budget as soon as practicable;

  (c) Arsene Taxand timely submit fee applications in accordance
      with the Bankruptcy Court's rules and orders;

  (d) the Bankruptcy Court impose a cap on Arsene Taxand's fees
      and expenses in the amount of $25,000; and

  (e) Arsene Taxand seek the Debtors and the U.S. Trustee's
      consent or Bankruptcy Court approval to exceed the cap
      prior to incurring any fees and expenses in excess of the
      cap.

Mr. Foley notes that the Canadian Debtors' French tax counsel has
billed the Canadian Debtors fees and expenses totaling EUR26,720
or approximately $32,155 through March 30, 2010.

                        About Circuit City

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

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

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

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

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

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


CIRCUIT CITY: Objects to Removal of Gowling Fee Cap
---------------------------------------------------
To recall, the Official Committee of Unsecured Creditors for
Circuit City Stores Inc. is seeking to remove the cap on the
compensation and reimbursement of its Canadian counsel, Gowling
Lafleur Henderson LLP, and to eliminate the Cap Amount as a basis
for objecting to the fees and expenses incurred by the firm for
period November 1, 2009, to March 31, 2010, and all fees and
expenses incurred by the firm from and after April 1, 2010.

The Debtors ask the Court to deny the Creditors' Committee's
Removal Motion and to enforce the Cap Amount with respect to any
fees billed or expenses incurred on or before April 20, 2010.

In addition, although the Debtors do not object to the scope of
Gowling Lafleur's retention being expanded to include tax-related
matters with respect to services rendered after April 20, 2010,
the Debtors ask the Court to direct the firm to provide them and
the United States Trustee with a budget for that work, and then
set a cap either consented to by the Debtors and the U.S. Trustee
or approved by the Court.

Douglas M. Foley, Esq., at McGuireWoods LLP, in Richmond,
Virginia, counsel to the Debtors, notes that, by the Creditors'
Committee's own admission, Gowling Lafleur was not previously
retained to analyze the Canadian tax issues related to the
repatriation of equity proceeds of the sale of InterTAN Canada,
Ltd.  He adds that the Creditors' Committee was required to
obtain the Court's prior approval before expanding the scope of
Gowling Lafleur's retention and burdening the Debtors' estate
with additional fees.

Through the Removal Motion, the Creditors' Committee is, thus,
seeking to retroactively expand the scope of Gowling Lafleur's
retention, Mr. Foley contends.  He argues that it is
inappropriate in these circumstances to grant the Creditors'
Committee's requested relief.

Mr. Foley points out that the Creditors' Committee was also
required to seek the Court's approval to increase or remove the
Cap Amount before Gowling Lafleur exceeded the Cap Amount.

Because Gowling Lafleur did not, and has not, complied with the
Interim Compensation Order, the Debtors maintain that any
expansion of the firm's retention to include Tax Services
rendered after April 20, 2010, should be expressly conditioned
upon the firm providing the Debtors and the U.S. Trustee with an
estimated budget for future services, which budget will be used
to set a cap for future fees and services that the firm may not
exceed without prior Court approval.

                        About Circuit City

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

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

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

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

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

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


COUNTRYWIDE HOME: Trustee Program Resolves Litigation against Firm
------------------------------------------------------------------
The U.S. Trustee Program (USTP) has successfully resolved
litigation against Countrywide Home Loans Inc. in its ongoing
efforts to protect homeowners in bankruptcy, Clifford J. White
III, Director of the Executive Office for U.S. Trustees, announced
today.

Over a two-year period, the USTP worked closely with the Federal
Trade Commission (FTC) to carry out parallel investigations
relating to Countrywide's improper conduct in servicing home
loans.

The FTC announced a consent order with Countrywide and its
affiliate BAC Home Loans Servicing LP that resolves an FTC
complaint and the USTP's litigation in bankruptcy courts.

             Homeowners in Bankruptcy Protected

"Homeowners who file for bankruptcy protection and obey the rules
are entitled to a fresh start," stated Director White.  "[The]
agreement among the FTC, USTP, and Countrywide helps to ensure
that debtors receive the relief to which they are legally
entitled.  The agreement will compensate homeowners in bankruptcy
who were victimized by Countrywide's improper business practices,
and will help prevent future harm to homeowners in dire financial
straits who legitimately seek bankruptcy protection."

The Bankruptcy Code imposes duties on debtors to completely and
accurately report on their financial condition. Similarly, it
imposes a duty on creditors to file complete and accurate claims
regarding the amount of money owed to them.  In pending
litigation, the USTP alleged Countrywide failed to satisfy its
obligations as a creditor and thereby harmed not only homeowners
in chapter 13 bankruptcy, but other creditors as well.

USTP litigation against Countrywide focused on three types of
practices: inflating the mortgage claims Countrywide made against
homeowners in chapter 13 bankruptcy; failing to properly credit
homeowners with payments made; and failing to notify homeowners of
extra charges added to the mortgage bill.  These improper
accounting and billing practices can be catastrophic to debtors,
who may emerge from bankruptcy only to end up losing the family
home, and unfair to other creditors, who may receive less than
their fair share from the bankruptcy estate because the mortgage
company claimed more than it was entitled to receive.

Mortgage Servicing Abuses Addressed The USTP launched
investigations of Countrywide, as well as other mortgage lenders,
after receiving complaints of chronic accounting irregularities by
mortgage servicing companies.  Overall, in FY 2009, U.S. Trustees
took more than 9,000 formal and informal consumer protection
actions, including a large number of actions against mortgage
servicing companies.  On the Countrywide matter, the USTP worked
closely with the FTC in fashioning the consent order announced
today.

                   Under the consent order:

Debtors who were victimized by Countrywide's wrongful actions will
receive compensation;

Countrywide will establish internal procedures and an independent
third party will verify compliance with the prescribed procedures,
to help ensure that the bills and claims filed in bankruptcy court
are accurate; and

Countrywide will provide adequate notice of its charges so debtors
do not emerge from bankruptcy only to be required to pay
previously undisclosed charges or risk foreclosure.

             Pending Bankruptcy Actions Resolved

The consent order resolves the USTP's challenges to Countrywide's
mortgage servicing practices in litigation throughout the country,
including in the bankruptcy cases of In re Atchley, Case No. 05-
79232, Adv. No. 08-6092 (Bankr. N.D. Ga. Feb. 28, 2008); In re
Hill, Case No. 01-22574 (Bankr. W.D. Pa. June 29, 2008); and In re
Sanchez, Case No. 01-42230, Adv. No. 08-1176 (Bankr. S.D. Fla.
Mar. 1, 2008). The consent order does not bind non-parties,
including debtors.

The USTP is a member of the President's Financial Fraud
Enforcement Task Force, which was established to improve efforts
across the government and with state and local partners to
investigate and prosecute significant financial crimes, ensure
just and effective punishment for those who perpetrate financial
crimes, recover proceeds for victims, and address financial
discrimination in the lending and financial markets.  Homeowners
may visit the Task Force's Web site at http://www.stopfraud.gov/
for information on reporting mortgage and other financial fraud,
as well as valuable tips on protecting themselves against mortgage
and financial scams.

The USTP is the component of the Justice Department that protects
the integrity of the bankruptcy system by overseeing case
administration and litigating to enforce the bankruptcy laws.  The
USTP has 21 regions and 95 field offices.


COTTON 303: Case Summary & 6 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Cotton 303, LLC
        10624 S Eastern Avenue Suite A-262
        Henderson, NV 89052

Bankruptcy Case No.: 10-20380

Chapter 11 Petition Date: June 3, 2010

Court: U.S. Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Bruce A. Markell

Debtor's Counsel: Terry V. Leavitt, Esq.
                  601 S. 6th Street
                  Las Vegas, NV 89101
                  Tel: (702) 385-7444
                  Fax: (702) 385-1178
                  E-mail: terry@leavittbk.com

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

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

According to the schedules, the Company says that assets total
$11,719,286 while debts total $4,878,591.

The petition was signed by Hamid Mahban, manager.

Debtor's List of 6 Largest Unsecured Creditors:

        Entity                      Nature of Claim   Claim Amount
        ------                      ---------------   ------------
Sunbelt Investment Management       Management             $25,000
10624 S Eastern Ave A-262           Reimbursement
Henderson, NV 89052

The Firm-Preston Rezaee             Legal Fees             $14,250
4170 S Decatur Boulevard, Suite A 8
Las Vegas, NV 89103

The Design Teamaka                  --                      $8,750
Jon-Davidsax, Asla
219 W 7th Street, Suite 607
Los Angeles, CA 90014

Civil Consultants, Inc              Engineering             $6,800
                                    Consulting

Sun Commercial Real Estate          Marketing               $5,000
of Phoenix

Santoro, Driggs, Walch, Kearney     Legal Fees                $286


CREDIT CARDS: Case Summary & 3 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Credit Cards Direct, Inc.
        18151 Murdock Circle
        Port Charlotte, FL 33948

Bankruptcy Case No.: 10-13470

Chapter 11 Petition Date: June 3, 2010

Court: United States Bankruptcy Court
       Middle District of Florida (Ft. Myers)

Debtor's Counsel: Jacqueline Calderin, Esq.
                   E-mail: jc@ecccounsel.com
                  Robert P. Charbonneau, Esq.
                   E-mail: rpc@ecccounsel.com
                  Ehrenstein Charbonneau & Calderin
                  800 Brickell Avenue, Suite 902
                  Miami, FL 33131
                  Tel: (305) 722-2002
                  Fax: (305) 722-2001

Estimated Assets: $0 to $50,000

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

A list of the Company's 3 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flmb10-13470.pdf

The petition was signed by Daniel M. Cugini, company president.


DANIEL CUGINI: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Daniel M. Cugini
        1851 Murdock Circle
        Port Charlotte, FL 33948

Bankruptcy Case No.: 10-13469

Chapter 11 Petition Date: June 3, 2010

Court: United States Bankruptcy Court
       Middle District of Florida (Ft. Myers)

Debtor's Counsel: Jacqueline Calderin, Esq.
                   E-mail: jc@ecccounsel.com
                  Robert P. Charbonneau, Esq.
                   E-mail: rpc@ecccounsel.com
                  Ehrenstein Charbonneau & Calderin
                  800 Brickell Avenue, Suite 902
                  Miami, FL 33131
                  Tel: (305) 722-2002
                  Fax: (305) 722-2001

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/flmb10-13469.pdf

The petition was signed by Daniel M. Cugini.


DAVID JOHNSON: Case Summary & 13 Largest Unsecured Creditors
------------------------------------------------------------
Joint Debtors: David R. Johnson
               Denise V. Johnson
               9 Marquette Way
               Coto de Caza, CA 92679

Bankruptcy Case No.: 10-17408

Chapter 11 Petition Date: June 1, 2010

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

Judge: Erithe A. Smith

Debtor's Counsel: Marc C. Forsythe, Esq.
                  18101 Von Karman Avenue, Suite 510
                  Irvine, CA 92612
                  Tel: (949) 798-2460
                  Fax: (949) 955-9437
                  E-mail: kmurphy@goeforlaw.com

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

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

A list of the Company's 13 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-17408.pdf

The petition was signed by David R. Johnson and Denise V. Johnson.


DB CAPITAL: Files for Chapter 11 Bankruptcy Protection in Denver
----------------------------------------------------------------
DB Capital Holdings filed for bankruptcy under Chapter 11 in the
U.S. Bankruptcy Court in Denver, Colorado, in an attempt to regain
control of its business operation.

DB Capital Holdings owns the Dancing Bear Residences-Aspen
development.  DB Capital has been under a court-appointed receiver
James DeFrancia, according to Rick Carroll of The Aspen Times.

The Company said it owes more than $60 million including about 456
million to WestLB, a senior lender that financed most of the
Durant Avenue project, Mr. Carrol notes.  The Company owes
$750,000 to Cappello Capital Corp.; $71,000, Klein Cote & Edwards;
and $708, Fred Funk, he adds.


DECODE GENETICS: Nears Implementing Plan, 3% Unsecured Recovery
---------------------------------------------------------------
deCODE Genetics Inc., now formally named DGI Resolution Inc.,
expects to exit Chapter 11 around June 10, according to a
regulatory filing.

The Company was authorized to sell its assets to Saga Investments
in January.  It won approval of the liquidating Chapter 11 plan on
May 27.

DGIR anticipates that the effective date of the Plan will be on or
about June 10, 2010, provided certain conditions have been
satisfied or waived.

The Plan is a liquidating plan that provides, among other things,
that (i) all, or substantially all, of DGIR's assets will be
transferred to a liquidating trust for the benefit of DGIR's
creditors, (ii) the holders of Allowed Claims will receive
beneficial interests in the Liquidating Trust that will entitle
them to receive distributions from the Liquidating Trust and (iii)
all existing equity interests in DGIR will be terminated and
holders of equity interests will receive no distribution under the
Plan.

The Trustee of the Liquidating Trust will reduce the assets of
DGIR's estate to cash and distribute the cash first in full
payment of any and all Administrative Claims and Priority Tax
Claims.  The remaining balance of the available assets of the
estate will be held in the Liquidating Trust and distributed to
the other Beneficial Holders in accordance with the terms of the
Plan.

The explanatory disclosure statement says that unsecured
creditors with some $235 million in claims can expect to
recover between 2.5% and 3.5%.

In its most recent monthly operating report filed with the
Bankruptcy Court on April 26, 2010, DGIR reported assets of
$12,097,364 and liabilities of $236,570,424 as of March 31, 2010.

                       About deCODE Genetics

deCODE Genetics Inc. is a global leader in analyzing and
understanding the human genome.  deCODE has identified key
variations in the sequence of the genome conferring increased risk
of major public health challenges from cardiovascular disease to
cancer, and employs its gene discovery engine to develop DNA-based
tests to assess individual risk of common diseases; to license its
tests and intellectual property to partners; and to provide
comprehensive, leading- edge contract services to companies and
research institutions around the globe.  The Company was founded
in 1996 and is headquartered in Reykjavik, Iceland.

The Company filed for Chapter 11 on November 16, 2009 (Bankr. D.
Del. Case No. 09-14063).  The petition listed assets of
$69.9 million against debt of $314 million.  Liabilities include
$230 million on 3.5% senior convertible notes.


DELTA AIR: Gets DOT Approval for Detroit to South America Flights
-----------------------------------------------------------------
Delta Air Lines (NYSE: DAL) announced it has received approval
from the U.S. Department of Transportation (DOT) to operate twice-
weekly service between its Detroit Metropolitan Airport hub and
Sao Paulo, Brazil.  The new service, which will begin October 21,
is currently available for purchase at http://www.delta.comand
other ticketing channels.

"We are gratified the Department of Transportation quickly
approved our proposal to link Sao Paulo, South America's largest
business market, with our Detroit hub," said Andrea Fischer
Newman, senior vice president for Government Affairs.  "Our new
service to Brazil will strengthen the airport's importance as a
leading international gateway."

To celebrate the new service, Delta is offering special
introductory fares starting at $449 each way (based on round-trip
purchase) on flights between Detroit and Sao Paulo.  Availability
at these fares is limited, and tickets must be purchased by May
24 for travel between October 21 and December 10, 2010.

Delta's schedule between Detroit and Sao Paulo starting October
21:

    Flight    Departs          Arrives        Frequency
    ------    -------          -------        ---------
     205      Detroit          Sao Paulo      Thursday, Sunday
                at 5:45 p.m.     at 6:15 a.m.
                               (next day)

     204     Sao Paulo         Detroit        Monday, Friday
             at 10:15 p.m.     at 7:20 a.m.
                               (next day)

                       About Delta Air Lines

Atlanta, Georgia-based Delta Air Lines (NYSE: DAL) --
http://www.delta.com/or http://www.nwa.com/-- serves more than
160 million customers each year.  Delta and the Delta Connection
carriers offer service to 367 destinations in 66 countries on six
continents.  Delta employs more than 70,000 employees worldwide
and operates a mainline fleet of nearly 800 aircraft.  A founding
member of the SkyTeam global alliance, Delta participates in the
industry's trans-Atlantic joint venture with Air France KLM.
Including its worldwide alliance partners, Delta offers customers
more than 16,000 daily flights, with hubs in Amsterdam, Atlanta,
Cincinnati, Detroit, Memphis, Minneapolis-St. Paul, New York-JFK,
Paris-Charles de Gaulle, Salt Lake City and Tokyo-Narita.  The
airline's service includes the SkyMiles frequent flier program,
the world's largest airline loyalty program; the BusinessElite
service; and more than 50 Delta Sky Clubs in airports worldwide.

Delta became the world's largest airline following merger with
Northwest Airlines in 2008.

Northwest and 12 affiliates filed for Chapter 11 protection on
September 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17930).
On May 21, 2007, the Court confirmed the Northwest Debtors'
amended plan.  That amended plan took effect May 31, 2007.

Delta and 18 affiliates filed for Chapter 11 protection on
September 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represented
the Delta Debtors in their restructuring efforts. On April 25,
2007, the Court confirmed the Delta Debtors' plan.  That plan
became effective on April 30, 2007.

At December 31, 2009, Delta had total assets of $43,539,000,000
against total current liabilities of $9,797,000,000 and total
noncurrent liabilities of $33,497,000,000, resulting in
stockholders' equity of $245,000,000.  At end-2008, Delta had
stockholders' equity of $874,000,000.  The December 31, 2009
balance sheet showed strained liquidity: Delta had total current
assets of $7,741,000,000 against total current liabilities of
$9,797,000,000.

(Bankruptcy Creditors Service Inc. publishes Delta Air Lines
Bankruptcy News, http://bankrupt.com/newsstand/or 215/945-7000).

                        *     *     *

Delta Air Lines and Northwest Airlines carry a 'B/Negative/--'
corporate ratings from Standard & Poor's.  They also continue to
carry 'B2' corporate family ratings from Moody's and "B-" LT
Issuer Default rating from Fitch.


DELTA AIR: Reports April 2010 Traffic Results
---------------------------------------------
Delta Air Lines (NYSE: DAL) reported traffic results for April
2010. System traffic in April 2010 decreased 2.2 percent compared
to April 2009 on a 4.1 percent decrease in capacity.  Load factor
increased 1.6 points to 83.0 percent.

Domestic traffic increased 0.3 percent year over year on a 1.0
percent decrease in capacity.  Domestic load factor increased 1.1
points to 84.2 percent.  International traffic decreased 6.3
percent year over year on an 8.9 percent decrease in capacity,
and load factor increased 2.2 points to 80.8 percent.

                        Delta Air Lines
                    Monthly Traffic Results

                    April 2010        April 2009      Change
                    ----------        ----------      ------
RPMs (000):

Domestic            9,677,232         9,645,522        0.3%
Mainline            7,607,173         7,574,981        0.4%
Regional            2,070,059         2,070,541       (0.0%)

International       5,407,609         5,770,954       (6.3%)
Latin America         968,232           960,364        0.8%
  Mainline             940,224           944,503       (0.5%)
  Regional              28,008            15,861       76.6%
Atlantic            2,901,359         3,511,233      (17.4%)
Pacific             1,538,018         1,299,357       18.4%

System              15,084,841        15,416,476       (2.2%)

ASMs (000):

Domestic           11,490,265        11,605,422       (1.0%)
Mainline            8,878,222         8,873,024        0.1%
Regional            2,612,043         2,732,398       (4.4%)

International       6,688,660         7,344,263       (8.9%)
Latin America       1,291,915         1,271,305        1.6%
  Mainline           1,254,575         1,247,277        0.6%
  Regional              37,340            24,028       55.4%
Atlantic            3,482,043         4,409,650      (21.0%)
Pacific             1,914,702         1,663,308       15.1%

System              18,178,925        18,949,685       (4.1%)

Load Factor

Domestic                 84.2%             83.1%        1.1  pts
Mainline                 85.7%             85.4%        0.3  pts
Regional                 79.3%             75.8%        3.5  pts

International            80.8%             78.6%        2.2  pts
Latin America            74.9%             75.5%       (0.6) pts
  Mainline                74.9%             75.7%       (0.8) pts
  Regional                75.0%             66.0%        9.0  pts
Atlantic                 83.3%             79.6%        3.7  pts
Pacific                  80.3%             78.1%        2.2  pts

System                    83.0%             81.4%        1.6  pts

Passengers Boarded  13,341,196         13,433,232       (0.7%)

Mainline
Completion Factor         98.8%             99.3%       (0.5) pts

Cargo Ton Miles (000):
Passenger Cargo       172,094           122,428       40.6%
Freighter Cargo             0            46,150     (100.0%)

System                 172,094           168,578        2.1%

                        Delta Air Lines
                    Year-to-Date Traffic Results

                    April 2010        April 2009      Change
                    ----------        ----------      ------
RPMs (000):

Domestic           36,263,862        36,461,316       (0.5%)
Mainline           28,431,514        28,691,805       (0.9%)
Regional            7,832,348         7,769,511        0.8%

International      21,185,974        21,912,291       (3.3%)
Latin America       4,441,819         4,337,420        2.4%
  Mainline           4,342,373         4,264,559        1.8%
  Regional              99,446            72,861       36.5%
Atlantic           10,223,568        11,448,264      (10.7%)
Pacific             6,520,587         6,126,607        6.4%

System              57,449,836        58,373,607       (1.6%)

ASMs (000):

Domestic           44,649,974        45,578,929       (2.0%)
Mainline           34,448,456        34,966,567       (1.5%)
Regional           10,201,518        10,612,362       (3.9%)

International      26,825,090        29,102,545       (7.8%)
Latin America       5,747,451         5,702,675        0.8%
  Mainline           5,613,037         5,591,122        0.4%
  Regional             134,414           111,553       20.5%
Atlantic           13,256,531        15,920,873      (16.7%)
Pacific             7,821,108         7,478,997        4.6%

System              71,475,064        74,681,474       (4.3%)

Load Factor

Domestic                81.2%             80.0%        1.2  pts
Mainline                82.5%             82.1%        0.4  pts
Regional                76.8%             73.2%        3.6  pts

International           79.0%             75.3%        3.7  pts
Latin America           77.3%             76.1%        1.2  pts
  Mainline               77.4%             76.3%        1.1  pts
  Regional               74.0%             65.3%        8.7  pts
Atlantic                77.1%             71.9%        5.2  pts
Pacific                 83.4%             81.9%        1.5  pts

System                   80.4%             78.2%        2.2  pts

Passengers
Boarded           49,894,311        50,743,178       (1.7%)

Cargo Ton Miles (000):

Passenger Cargo      681,127           480,633       41.7%
Freighter Cargo            0           168,614     (100.0%)

System                681,127           649,247        4.9%

                       About Delta Air Lines

Atlanta, Georgia-based Delta Air Lines (NYSE: DAL) --
http://www.delta.com/or http://www.nwa.com/-- serves more than
160 million customers each year.  Delta and the Delta Connection
carriers offer service to 367 destinations in 66 countries on six
continents.  Delta employs more than 70,000 employees worldwide
and operates a mainline fleet of nearly 800 aircraft.  A founding
member of the SkyTeam global alliance, Delta participates in the
industry's trans-Atlantic joint venture with Air France KLM.
Including its worldwide alliance partners, Delta offers customers
more than 16,000 daily flights, with hubs in Amsterdam, Atlanta,
Cincinnati, Detroit, Memphis, Minneapolis-St. Paul, New York-JFK,
Paris-Charles de Gaulle, Salt Lake City and Tokyo-Narita.  The
airline's service includes the SkyMiles frequent flier program,
the world's largest airline loyalty program; the BusinessElite
service; and more than 50 Delta Sky Clubs in airports worldwide.

Delta became the world's largest airline following merger with
Northwest Airlines in 2008.

Northwest and 12 affiliates filed for Chapter 11 protection on
September 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17930).
On May 21, 2007, the Court confirmed the Northwest Debtors'
amended plan.  That amended plan took effect May 31, 2007.

Delta and 18 affiliates filed for Chapter 11 protection on
September 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represented
the Delta Debtors in their restructuring efforts. On April 25,
2007, the Court confirmed the Delta Debtors' plan.  That plan
became effective on April 30, 2007.

At December 31, 2009, Delta had total assets of $43,539,000,000
against total current liabilities of $9,797,000,000 and total
noncurrent liabilities of $33,497,000,000, resulting in
stockholders' equity of $245,000,000.  At end-2008, Delta had
stockholders' equity of $874,000,000.  The December 31, 2009
balance sheet showed strained liquidity: Delta had total current
assets of $7,741,000,000 against total current liabilities of
$9,797,000,000.

(Bankruptcy Creditors Service Inc. publishes Delta Air Lines
Bankruptcy News, http://bankrupt.com/newsstand/or 215/945-7000).

                        *     *     *

Delta Air Lines and Northwest Airlines carry a 'B/Negative/--'
corporate ratings from Standard & Poor's.  They also continue to
carry 'B2' corporate family ratings from Moody's and "B-" LT
Issuer Default rating from Fitch.


DENMAN TIRE: Titan Int'l Completes Purchase of Assets
-----------------------------------------------------
The U.S. Bankruptcy Court for the Northern District in Ohio
approved the sale of certain assets of Denman Tire to Titan Tire
Corporation, a subsidiary of Titan International, Inc.  The asset
purchase was completed on June 4, for a total of US$4.4 million.
The asset purchase included the Denman Tire name, tire
specifications, patents, molds, various bladder tooling, customer
lists and other items.  The purchase did not include any
machinery, land or buildings.

                    About Titan International

Titan International, Inc., a holding company, owns subsidiaries
that supply wheels, tires and assemblies for off-highway equipment
used in agricultural, earthmoving/construction and consumer
(including all terrain vehicles) applications.

                       About Denman Tire

Based in Ohio, Denman Tire -- http://www.denmantire.com/-- is a
producer of specialty tires.

Denman Tire filed for Chapter 7 liquidation in May 2010.  The
Company had informed workers in February that it may close down
due to poor economic conditions.  The Company said it is trying to
look for a buyer that could reopen its plant.  A total of 270
workers have been laid off since November 2009.

The petition says the Company owes between $1 million and $10
million to more than 200 creditors.


DENNY'S CORP: Shareholders Support Company's Director Nominees
--------------------------------------------------------------
Denny's Corporation said in a regulatory filing that on May 24,
2010, the independent inspector of elections for the 2010 Annual
Meeting of the Company's Stockholders delivered its certified
results, which reported that the Company's eight nominees were
elected to the Denny's Corporation Board of Directors.

The re-elected Board members include: Debra Smithart-Oglesby,
Brenda J. Lauderback, Nelson J. Marchioli, Robert E. Marks, Louis
P. Neeb, Donald C. Robinson, Donald R. Shepherd and Laysha Ward.
Stockholders also voted to ratify the appointment of KPMG as the
Company's independent registered public accounting firm for fiscal
year 2010.

Debra Smithart-Oglesby, Denny's Board Chair, stated, "We
appreciate the support and confidence our stockholders have placed
in our Board. We take this responsibility very seriously and are
firmly committed to maximizing stockholder value. We look forward
to applying our full energy and focus towards building on the
progress we have made at Denny's and implementing our plans to
accelerate that progress going forward."

As reported by the Troubled Company Reporter, the "Committee to
Enhance Denny's," comprised of certain persons and entities
affiliated with Oak Street Capital Master Fund, Ltd., nominated
three persons to the Company's Board of Directors in opposition to
certain nominees set forth by the Company.

On May 7, the Committee to Enhance Denny's said ISS/RiskMetrics
Group, a proxy advisory firm, has recommended that Denny's
shareholders vote on the Committee's GOLD proxy card to elect
Jonathan Dash to the Board of Directors of Denny's at the annual
meeting.  The Committee said ISS/RiskMetrics performed a detailed
analysis of both sides' positions with respect to the election
contest and carefully considered Denny's operational, financial
and share price performance as compared to its peers, particularly
DineEquity's IHOP.  ISS/RiskMetrics expressed concerns shared by
the Committee with certain key financial metrics and poor total
shareholder returns.

The Denny's Franchisee Association's said last month it intends to
commence litigation against the dissident hedge funds for waging a
proxy contest against the Company.  The litigation, which results
from the dissidents obtaining and distributing confidential DFA
documents, comes after the dissidents have directly attacked the
Denny's franchisee community and actively undermined its
leadership, to the significant detriment of the Company and the
Denny's brand.

On May 10, 2010, the Company reported results for its first
quarter ended March 31, 2010:

     -- Opened ten new restaurants with positive system unit
        growth of eight restaurants;

     -- New unit openings highlighted by four restaurants in
        Flying J Travel Centers and one university campus location
        in partnership with Sodexo;

     -- Adjusted income before taxes grew 43% to $6.6 million;

     -- Net income of $4.6 million, an increase of $0.3 million;

     -- Reduced outstanding debt by an additional $5.2 million;

     -- Same-store sales decreased 5.5% at company units and 6.3%
        at franchised units. This represents an improvement in
        trend to the last six months of 2009 despite the negative
        impact of weather in the first quarter (weather impact
        estimated at 90bps, partially offset by 40bps of favorable
        impact from the Easter shift); and

     -- Company restaurant operating margin improved
        1.9 percentage points to 13.6% of sales

As of March 31, 2010, the Company had total assets of
$313.733 million against total liabilities of $432.726 million,
resulting in stockholders' deficit of $118.993 million.

A full-text copy of the Company's Form 10-Q report is available at
no charge at http://ResearchArchives.com/t/s?643c

A full-text copy of the Company's earnings release is available at
no charge at http://ResearchArchives.com/t/s?643b

                     About Denny's Corporation

Based in Spartanburg, South Carolina, Denny's Corporation (NASDAQ:
DENN) -- http://www.dennys.com/-- is one of America's largest
full-service family restaurant chains, consisting of 1,322
franchised and licensed units and 237 company-owned units, with
operations in the United States, Canada, Costa Rica, Guam, Mexico,
New Zealand and Puerto Rico.


DIAMOND RANCH: Restates March 2009 & 2008 Balance Sheets
--------------------------------------------------------
Diamond Ranch Foods, Ltd., on January 13, 2010, received comments
from the Staff of the Securities and Exchange Commission.  The
Company has concluded, based on the discussion between its
principal financial officer and independent auditor, to restate
certain elements of the balance sheets and income statements as of
March 31, 2009 and 2008, which also affected the statements of
equity and cash flows.  The specific changes are available at no
charge at http://ResearchArchives.com/t/s?6447

In addition, Diamond Ranch Foods filed with the Commission:

     -- Amendment No. 2 to its Annual Report on Form 10-K/A for
        the period ended December 31, 2009.

        See http://ResearchArchives.com/t/s?6443

     -- Amendment No. 2 to its Quarterly Report on Form 10-Q/A for
        the period ended September 30, 2009.

        See http://ResearchArchives.com/t/s?6444

     -- Amendment No. 2 to its Quarterly Report on Form 10-Q/A for
        the period ended June 30, 2009.

        See http://ResearchArchives.com/t/s?6445

     -- Amendment No. 2 to its Annual Report on Form 10-K/A for
        the period ended December 31, 2008.

        See http://ResearchArchives.com/t/s?6446

The Company said the amendment to its Form 10-Q/A Amendment No. 1
filed on May 5, 2010, for the quarter ended December 31, 2009, is
filed to reclassify related party forgiveness in the Statement of
Cash Flows and properly disclose marketable securities in Note 3
of the Financial Statement Notes.  In addition, critical
accounting policies have been more fully detailed in Item 2
Management's Discussion and Analysis of Financial Condition and
Results of Operations.  All other items remain unchanged from the
original filing.

                      About Diamond Ranch

Diamond Ranch Foods, Ltd. -- http://www.diamondranchfoods.com/--
is a meat processing and distribution company now located in the
Hunts Point Coop Market, Bronx, New York.  The Company's
operations consist of packing, processing, labeling, and
distributing products to a customer base, including, but not
limited to; in-home food service businesses, retailers, hotels,
restaurants, and institutions, deli and catering operators, and
industry suppliers.

Diamond Ranch Foods reported total assets of $1.34 million against
debts of 5.46 million, resulting to a stockholders' deficit of
$4.13 million as of Dec. 31, 2009.

                      Going Concern Doubt

On May 1, 2009, Gruber & Company, LLC, in Lake Saint Louis,
Missouri, raised substantial doubt on the ability of Diamond Ranch
Foods to continue as a going concern after it audited the
company's financial statements for the year ended March 31, 2009,
and 2008.  The auditor pointed to the company's recurring losses
from operations.


DISH DIRECT: Case Summary & 22 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Dish Direct Inc.
        dba Maximizer Health Prod.
        174 W. Foothill Blvd, Suite 16
        Monrovia, CA 91016

Bankruptcy Case No.: 10-32556

Chapter 11 Petition Date: June 3, 2010

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

Judge: Ernest M. Robles

Debtor's Counsel: Allan D. Sarver, Esq.
                  16000 Ventura Blvd. Suite 1000
                  Encino, CA 91436
                  Tel: (818) 981-0581
                  E-mail: ADSarver@aol.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 22 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-32556.pdf

The petition was signed by Armen Alder, president.


DOUBLE DOWN: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Double Down Transport, Inc.
        320 Woodward Avenue
        Tonawanda, NY 14217

Bankruptcy Case No.: 10-12441

Chapter 11 Petition Date: June 3, 2010

Court: U.S. Bankruptcy Court
       Western District of New York (Buffalo)

Debtor's Counsel: James M. Joyce, Esq.
                  4733 Transit Road
                  Lancaster, NY 14043
                  Tel: (716) 656-0600
                  Fax: (716) 656-0607
                  E-mail: jmjoyce@lawyer.com

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

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

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

The petition was signed by John Barden, president.


DRAGON PHARMACEUTICAL: Merger Counterparties Borrow $10-Mil.
------------------------------------------------------------
Chief Respect Limited, a Hong Kong corporation, and Datong
Investment, a Florida corporation -- which are seeking to merge
with Dragon Pharmaceutical, Inc. -- have entered into a Promissory
Note dated as of May 17, 2010, with Yang Yong as lender.

Chief Respect and Datong Investment inked an Agreement and Plan of
Merger with Dragon Pharmaceutical pursuant to which Datong will
merge with and into Dragon Pharmaceutical and all shareholders of
Dragon Pharmaceutical, except certain shareholders, will receive
$0.82 for each share of common stock of Dragon Pharmaceutical.

The Lender will provide $10,000,000 to Chief Respect for the
Borrowers to complete the Merger Agreement.  The Principal Amount
will be due and payable on December 30, 2011.

Dragon Pharmaceutical intends to hold a special meeting of its
shareholders at a yet to be determined date, at Dragon's corporate
office located at Suite 310, 650 West Georgia Street, in
Vancouver, British Columbia, Canada. At the special meeting,
shareholders will be asked to adopt the Agreement and Plan of
Merger with Chief Respect and Datong.

A full-text copy of the Company's proxy statement is available at
no charge at http://ResearchArchives.com/t/s?6442

Incorporated in Florida and headquartered in Vancouver, Canada,
Dragon Pharmaceutical Inc. -- http://www.dragonpharma.com/--
manufactures and distributes a broad line of antibiotic products
including Clavulanic Acid and 7-ACA, a key intermediate to produce
cephalosporin antibiotics and formulated drugs.  Dragon
Pharmaceutical is the third largest 7-ACA producer in China.

The Company's balance sheet as of March 31, 2010, showed
$200.1 million in assets, $132.9 million of liabilities, and
$67.2 million of stockholders' equity.

As reported in the Troubled Company Reporter on April 5, 2010,
Chang Lee LLP, in Vancouver, Canada, said the Company's recurring
working capital deficiency raises substantial doubt about its
ability to continue as a going concern.

The Company has a working capital deficiency of $56.7 million as
at March 31, 2010.


DUNE ENERGY: Adjourns 2010 Annual Stockholders' Meeting
-------------------------------------------------------
Dune Energy, Inc., said Friday the requisite quorum of
stockholders was not present at its June 2, 2010 Annual Meeting of
Stockholders.  Accordingly, pursuant to the Company's by-laws and
applicable Delaware law, the Meeting was adjourned until June 18,
2010, and will be held at the offices of the Company located at
Two Shell Plaza, 777 Walker Street, Suite 2300, Houston, Texas
77002, commencing at 1:00 p.m. Central Time.  The record date of
April 2, 2010, and the agenda will remain unchanged for the
adjourned Meeting.

                        About Dune Energy

Dune Energy, Inc. (NYSE AMEX: DNE) -- http://www.duneenergy.com/
-- is an independent energy company based in Houston, Texas.
Since May 2004, the Company has been engaged in the exploration,
development, acquisition and exploitation of natural gas and crude
oil properties, with interests along the Louisiana/Texas Gulf
Coast.  The Company's properties cover over 90,000 gross acres
across 27 producing oil and natural gas fields.

The Company's balance sheet at March 31, 2010, showed
$369.1 million in total assets, $188.6 million redeemable
convertible preferred stock, and $376.5 million in total
liabilities, for a $196.1 million stockholders' deficit.

Standard & Poor's Ratings Services revised its recovery rating on
Dune Energy Inc.'s $300 million second-lien notes upon updated
reserve information.  S&P has revised the rating to '4',
indicating its expectation for average (30%-50%) recovery in the
event of a payment default, from '3'.  The issue-level rating of
'CCC-' on these notes remains unchanged.


DUNE ENERGY: Natural Gas Partners VII Holds 4.9% of Shares
----------------------------------------------------------
Natural Gas Partners VII, L.P., disclosed that as of May 24, 2010,
it was the sole record owner of, and had the sole power to vote
and dispose of, 1,966,536 shares of Common Stock of Dune Energy,
Inc., constituting 4.9% of the outstanding shares.  Goldking
Energy Holdings, L.P.; and GEH GP, L.L.C. do not hold any Company
shares.

On May 24, 2010, NGP VII sold an aggregate of 44,638 Company
shares in a series of trades at an average sales price of $0.28123
per share.  The shares sold in these trades were registered for
resale on the Company's Registration Statement on Form S-3, as
amended, filed with the Securities and Exchange Commission on
August 15, 2007 (Registration No. 333-145477).  Prior to such
sale, all of the Company shares beneficially owned by the NGP VII
et al. were distributed by Goldking to NGP VII pursuant to the
terms of the Limited Partnership Agreement of Goldking and
agreement amongst its partners.

                        About Dune Energy

Dune Energy, Inc. (NYSE AMEX: DNE) -- http://www.duneenergy.com/
-- is an independent energy company based in Houston, Texas.
Since May 2004, the Company has been engaged in the exploration,
development, acquisition and exploitation of natural gas and crude
oil properties, with interests along the Louisiana/Texas Gulf
Coast.  The Company's properties cover over 90,000 gross acres
across 27 producing oil and natural gas fields.

The Company's balance sheet at March 31, 2010, showed
$369.1 million in total assets, $188.6 million redeemable
convertible preferred stock, and $376.5 million in total
liabilities, for a $196.1 million stockholders' deficit.

Standard & Poor's Ratings Services revised its recovery rating on
Dune Energy Inc.'s $300 million second-lien notes upon updated
reserve information.  S&P has revised the rating to '4',
indicating its expectation for average (30%-50%) recovery in the
event of a payment default, from '3'.  The issue-level rating of
'CCC-' on these notes remains unchanged.


DYNCORP INT'L: Commences Cash Tender Offer & Consent Solicitation
-----------------------------------------------------------------
DynCorp International LLC has commenced a cash tender offer and
consent solicitation for any and all outstanding $376,219,000
aggregate principal amount of 9.5% Senior Subordinated Notes due
2013 of DynCorp International and DIV Capital Corporation.  The
tender offer and consent solicitation is being conducted pursuant
to that certain Agreement and Plan of Merger, dated as of
April 11, 2010, by and among DynCorp, Delta Tucker Holdings, Inc.
("Parent") and Delta Tucker Sub, Inc.  Parent and Merger Sub are
entities created on behalf of affiliated funds and/or managed
accounts of Cerberus Capital Management L.P. Pursuant to the
Merger Agreement, as of the effective time of the Merger (as
defined in the Merger Agreement), DynCorp will become a wholly-
owned subsidiary of Parent.  DynCorp International's obligation to
accept for purchase Notes in the tender offer is subject to, among
other things, the consummation of the Merger and the receipt of
consents from holders of Notes representing a majority of the
outstanding principal amount of the Notes.  However, completion of
the tender offer and consent solicitation is not a condition to
completion of the Merger.

If DynCorp International makes a material change in the terms of
the tender offer and consent solicitation or in the information
concerning the tender offer or consent solicitation, it will then
disseminate additional offering materials and extend the tender
offer and consent solicitation, to the extent required by law.

The tender offer and consent solicitation will expire at midnight,
New York City time, on July 2, 2010, unless extended or earlier
terminated by DynCorp International.  In order to be eligible to
receive the total consideration, which includes the consent
payment, as set forth below, holders must validly tender, and not
validly withdraw, their Notes prior to 5:00 p.m., New York City
time, on June 18, 2010, unless extended or earlier terminated by
DynCorp International.  Holders tendering their Notes after the
Consent Payment Deadline but prior to the Expiration Time will be
eligible to receive an amount equal to the tender offer
consideration, which is the total consideration less the consent
payment, as set forth below.  Notes purchased in the tender offer
will be paid for on the payment date, which, assuming the tender
offer is not extended, is expected to be promptly after the
Expiration Time.  It is expected that the Expiration Time will be
extended to coincide with the date that the Merger becomes
effective.  Payment for Notes validly tendered and accepted will
also include accrued and unpaid interest to, but not including,
the payment date.

Tenders of Notes prior to the Consent Payment Deadline may be
validly withdrawn and consents may be validly revoked at any time
prior to the Consent Payment Deadline, but not thereafter.
Accordingly, tenders of Notes and the related consents delivered
after the Consent Payment Deadline will be irrevocable.

The tender offer consideration for the Notes is $1,023.75, and the
total consideration for the Notes is $1,027.50, for each $1,000
principal amount of Notes tendered and accepted for purchase,
pursuant to the tender offer.  The consent payment included in the
total consideration for the Notes is $3.75 for each $1,000
principal amount of Notes validly tendered and not validly
withdrawn prior to the Consent Payment Deadline.

Holders tendering their Notes will be required to consent to the
proposed amendments to the indenture governing the Notes, which
would eliminate or make less restrictive substantially all of the
restrictive covenants, as well as certain events of default and
related provisions, in the indenture.

The tender offer and consent solicitation are being made pursuant
to the terms and conditions set forth in the Offer to Purchase and
Consent Solicitation Statement dated June 7, 2010 and the related
Consent and Letter of Transmittal (collectively, the "Offer
Documents").

DynCorp International has retained Citi and BofA Merrill Lynch to
act as dealer managers in connection with the tender offer and
consent solicitation. Questions about the tender offer and consent
solicitation may be directed to Citi at (800) 558-3745 (toll free)
or (212) 723-6106 (collect) or BofA Merrill Lynch at (888) 292-
0070 (toll free) or (980) 388-9217 (collect).  Copies of the Offer
Documents and other related documents may be obtained from
MacKenzie Partners, Inc., the information agent and depositary for
the tender offer and consent solicitation, at (800) 322-2885 (toll
free) or (212) 929-5500 (collect).

The tender offer and consent solicitation is being made solely
pursuant to the Offer Documents, which set forth the complete
terms of the tender offer and consent solicitation.  Under no
circumstances shall this press release constitute an offer to
purchase or the solicitation of an offer to sell the Notes or any
other securities of DynCorp International.  It also is not a
solicitation of consents to the proposed amendments to the
indenture.  No recommendation is made as to whether holders of the
securities should tender their securities or give their consent.

                 About DynCorp International

DynCorp International Inc., through its wholly-owned subsidiary
DynCorp International LLC, is a global government services
provider in support of U.S. national security and foreign policy
objectives, delivering support solutions for defense, diplomacy,
and international development. DynCorp International operates
major programs in logistics, platform support, contingency
operations, and training and mentoring to reinforce security,
community stability, and the rule of law. DynCorp International is
headquartered in Falls Church, Va.

                         *     *     *

As reported in the Troubled Company Reporter on April 14, 2010,
Standard & Poor's Ratings Services placed its ratings, including
its 'BB' corporate credit rating, on Falls Church, Va.-based
DynCorp International LLC on CreditWatch with negative
implications.


EAU TECHNOLOGIES: Incurs $223,271 Net Loss for First Quarter
------------------------------------------------------------
EAU Technologies Inc. filed its quarterly report on Form 10-Q,
reporting a net loss of $223,271 on $162,402 of total revenues for
the three months ended March 31, 2010, compared with a net loss of
$863,172 on $154,650 of total revenues during the same period a
year ago.

The Company's balance sheet at March 31, 2010, showed $3.1 million
in total assets and $10.7 million in total liabilities, for a
$7.5 million total stockholders' deficit.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?632c

Kennesaw, Ga.-based EAU Technologies, Inc., previously known as
Electric Aquagenics Unlimited, Inc., is in the business of
developing, manufacturing and marketing equipment that uses water
electrolysis to create non-toxic cleaning and disinfecting fluids
as well as dairy drinking water.  These fluids have various
commercial applications and may be used in commercial food
processing and agricultural products that clean, disinfect,
remediate, hydrate and moisturize.

                           *     *     *

HJ & Associates, LLC, in Salt Lake City, expressed substantial
doubt about the Company's ability to continue as a going concern
after auditing the Company's 2009 financial statements.  The
independent auditors noted that the Company has a working capital
deficit as well as a deficit in stockholders equity.


EAU TECHNOLOGIES: To Restate 2008 & 2009 Financial Statements
-------------------------------------------------------------
The Audit Committee of the Board of Directors of EAU Technologies,
Inc., concluded on May 21, 2010, that it was necessary to restate
the Company's previously filed financial statements as of and for
the years ended December 31, 2009 and 2008, and the Company's
previously filed quarterly financial statements for the quarters
ended March 31, June 30, and September 30, 2009.

During the recent review of the Company's financial statements
for the quarter ended March 31, 2010, HJ & Associates LLC, the
Company's registered independent public accounting firm,
discovered and informed the Company of a misstatement that
occurred due to an input error of the valuation calculation
related to the derivative liability, the liability has been
incorrectly calculated.

As a result of this error and the pending restatements, the
financial statements and related report of independent registered
public accounting firm contained in the Company's Annual Report on
Form 10-K as of and for the year ended December 31, 2009 and the
unaudited financial statements contained in the Company's
Quarterly Reports on Form 10-Q for the quarters ended March 31,
2009, June 30, 2009, and September 30, 2009 should no longer be
relied upon.

The Company said it is preparing restated financial statements for
the years ended December 31, 2009 and 2008, and a related
amendment to its Annual Report on Form 10-K will be filed as soon
as practicable.

A full-text copy of the Company's regulatory filing is available
for free at http://ResearchArchives.com/t/s?6432

Kennesaw, Ga.-based EAU Technologies, Inc., previously known as
Electric Aquagenics Unlimited, Inc., is in the business of
developing, manufacturing and marketing equipment that uses water
electrolysis to create non-toxic cleaning and disinfecting fluids
as well as dairy drinking water.  These fluids have various
commercial applications and may be used in commercial food
processing and agricultural products that clean, disinfect,
remediate, hydrate and moisturize.

                           *     *     *

HJ & Associates, LLC, in Salt Lake City, expressed substantial
doubt about the Company's ability to continue as a going concern
after auditing the Company's 2009 financial statements.  The
independent auditors noted that the Company has a working capital
deficit as well as a deficit in stockholders equity.


EDSCHA NORTH AMERICA: Seeks Exclusivity Until August 6
------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Edscha North America
Inc. is asking for a 60-day extension of the exclusive right to
propose a Chapter 11 plan.  The Court will consider the request
for an August 6 extension at a hearing on June 17.  Edscha ceased
operating in June 2009 and filed under Chapter 11 in October.  The
Company said it won't be feasible to propose a plan until a sale
of assets in Mexico concludes.  The sale was approved by the judge
in April.

Germany-based Edscha AG manufactures door hinges, convertible
roofs and driver controls for major carmakers.  It was previously
owned by buyout firm Carlyle Group.

Edscha AG, the German auto parts company and parent of Edscha
North America, filed for insolvency for its European operations on
Feb. 2, 2009.  At the time, it cited "massive declining trends" in
the auto industry and difficulty in obtaining financing.

The debts incurred by the company's leveraged buyout through
Carlyle in late 2002 "was not responsible" for the insolvency
filing, but the massive slump in car sales.  The insolvency of
Edscha followed a 50% drop in some of the company's businesses
during the fourth quarter of 2008.

Edscha North America Inc., has filed for Chapter 11 reorganization
(Bankr. N.D. Ill. Case No. 09-39055), eight months after its
German parent filed for insolvency.  The Company listed assets of
$6.44 million and liabilities of $672.4 million in its voluntary
Chapter 11 petition.


EDWARD ADLER: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Edward Adler, III
        9450 Timbercreek Blvd.
        Daphne, AL 36527

Bankruptcy Case No.: 10-02531

Chapter 11 Petition Date: June 3, 2010

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

Judge: William S. Shulman

Debtor's Counsel: Allyson C. Pearce, Esq.
                  P.O. Box 609
                  Foley, AL 36536-0609
                  Tel: (251) 971-2676
                  E-mail: bkrdocs@pearcelawfirm.com

Scheduled Assets: $1,206,055

Scheduled Debts: $1,602,031

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/alsb10-02531.pdf

The petition was signed by Edward Adler, III.


EL CAMINO: Case Summary & 14 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: El Camino Charter Lines, Inc.
        dba El Camino Trailways
        214 Shaw Road, Suite T
        So. San Francisco, CA 94080

Bankruptcy Case No.: 10-32053

Chapter 11 Petition Date: June 2, 2010

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

Judge: Thomas E. Carlson

Debtor's Counsel: Ruth Elin Auerbach, Esq.
                  Law Offices of Ruth Elin Auerbach
                  711 Van Ness Ave. #440
                  San Francisco, CA 94102
                  Tel: (415) 673-0560
                  E-mail: attorneyruth@sbcglobal.net

Scheduled Assets: $2,808,469

Scheduled Debts: $3,488,714

A list of the Company's 14 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/canb10-32053.pdf

The petition was signed by Kumar Shah, chief executive officer.


EL CAPITAN: Case Summary & 5 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: El Capitan MHP, LLC
        1235 Shafter Street
        San Diego, CA 92106

Bankruptcy Case No.: 10-20307

Chapter 11 Petition Date: June 2, 2010

Court: U.S. Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Linda B. Riegle

Debtor's Counsel: Roger P. Croteau, Esq.
                  720 S 4th Street Suite 202
                  Las Vegas, NV 89101
                  Tel: (702) 254-7775
                  Fax: (702) 228-7719
                  E-mail: croteaulaw@croteaulaw.com

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

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

A copy of the Company's list of 5 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nvb10-20307.pdf

The petition was signed by Paul Thoryk, managing member.


ESCALON MEDICAL: Posts $309,358 Net Loss in Q3 Ended March 31
-------------------------------------------------------------
Escalon Medical Corp. filed its quarterly report on Form 10-Q,
reporting a net loss of $309,358 on $8,926,747 of revenue for the
three months ended March 31, 2010, compared with a net loss of
$683,173 on $9,204,998 of revenue for the same period ended
March 31, 2009.

The Company's balance sheet as of March 31, 2010, showed
$23,359,299 in assets, $12,850,921 of liabilities, and $10,508,378
of stockholders' equity.

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

               http://researcharchives.com/t/s?6424

Wayne, Pa.-based Escalon Medical Corp. (Nasdaq: ESMC) --
http://www.escalonmed.com/-- develops, markets, and distributes
ophthalmic diagnostic, surgical and pharmaceutical products as
well as vascular access devices.

Mayer Hoffman McCann P.C., in Plymouth Meeting, Pennsylvania,
expressed substantial doubt about the Company's ability to
continue as a going concern after auditing the Company's financial
statements for the year ended June 30, 2009.  The Company has
incurred recurring operating losses and negative cash flows from
operating activities and the debt payments related to the Biocode
acquisition are scheduled to commence within the next three
months.


FAIRPOINT COMMS: Clerk Reports on Claim Transfers for April
-----------------------------------------------------------
The Clerk of the U.S. Bankruptcy Court for the District of
Delaware recorded the transfer of 56 claims, totaling $1,787,435,
for the period from April 1, 2010 to April 30, 2010.

The Claims were transferred to these entities:

(a) ASM Capital, III, L.P.:

  Transferor                        Claim No.   Claim Amount
  ----------                        ---------   ------------
McCollough Bros. Inc.                     -        $16,456

(b) Blue Heron Micro Opportunities Fund, LP:

  Transferor                        Claim No.   Claim Amount
  ----------                        ---------   ------------
Blounstown Collision                      -           $268
Ciardelli Fuel Co.                        -           $318
Colonial Motel                            -           $578
Consolidated Electric LLC              3966           $693
Custom Courier                         3726           $431
Executive Car Service                     -           $428
Gallagher Refrigeration Co.               -           $375
Hettinger Excavating                    679           $340
Hillside Property Maintenance          4459           $295
John Blankenship                          -           $341
Lemsco Inc.                               -           $510
MCI Lawn Maintenance                      -           $798
New England Courier, Inc.              5348           $494
New York Communications Co., Inc.      1001         $1,737
Northern Toyota Lift                      -            472
Page Street Leasing                     948            440
Paxton Van Lines                          -            364
Pick & Shovel                             -            250
Symmetricom Inc.                          -           $672
Ware-Butler, Inc.                       571           $571

(c) Chapter Capital Management, L.L.C.:

  Transferor                        Claim No.   Claim Amount
  ----------                        ---------   ------------
Creditor Liquidity, LP                  307        $59,925
Creditor Liquidity, LP                 4016        $20,938
Creditor Liquidity, LP                 7427        $16,406
Creditor Liquidity, LP                 7428        $43,518

(d) Claims Recovery Group:

  Transferor                        Claim No.   Claim Amount
  ----------                        ---------   ------------
Fimbel Faunet Corporation                 -           $538
Menard & Sons Underground               237        $98,315
Muroney's Printing                       54           $898
Muroney's Printing                     7710           $898
Smith Excavating Inc.                  5316        $29,608
Strafford County Sheriff's Office         -           $609

(e) Corre Opportunities Fund, LP:

  Transferor                        Claim No.   Claim Amount
  ----------                        ---------   ------------
NEC Corporation of America                -         $3,121

(f) Fair Harbor Capital, LLC:

  Transferor                        Claim No.   Claim Amount
  ----------                        ---------   ------------
Filterfresh Cambridge                   763           $746
New Hampshire Business Review          6481         $4,582
Solstice Consulting Inc.                  -         $2,100

(g) Liquidity Solutions, Inc.:

  Transferor                        Claim No.   Claim Amount
  ----------                        ---------   ------------
Fabian Earth Moving Inc.                  -         $1,757
Gross Dodge Inc.                         20         $1,491
Mark L. Irvings                           -         $5,849
The Islander                              -         $1,029
The Ruthland Herald                       -        $12,201
Town of Salem New Hampshire            5343        $21,886
Turner Publishing Inc.                  310         $4,501

(h) Pioneer Credit Opportunities Fund, L.P.:

  Transferor                        Claim No.   Claim Amount
  ----------                        ---------   ------------
IT1 Source LLC                          494        $31,948
Norms Transmission Service                -         $2,202
Osmose Utilities Services Inc.          304        $62,701
TVC Communications, LLC                 806        $23,497

(i) TRC Optimum Fund LLC:

  Transferor                        Claim No.   Claim Amount
  ----------                        ---------   ------------
Alomax Technologies                     580        $58,185
Alomax Technologies                       -        $58,185
Glacial Energy of New England          3515       $580,986
Glacial Energy of New England             -       $575,416
Smith Media Burlington                  145         $9,622
WFFF-TV FOX 44                            -        $24,242

(j) U.S. Debt Recovery V, LP:

  Transferor                        Claim No.   Claim Amount
  ----------                        ---------   ------------
Griffith Energy                           -           $813
Johnson Newspaper Corporation             -           $770
Poissant Auto                             -           $905
Powers Generator Service                  -           $554
Southwest Oil Inc.                        -           $560

                         *     *     *

TRC Optimum Fund LLC, on April 22, 2010, informed the Court that
it withdrew from Alomax Technologies' transfer of two claims,
each asserting an amount of $58,185.

                   About FairPoint Communications

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

FairPoint and its affiliates filed for Chapter 11 on Oct. 26, 2009
(Bankr. 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)


FAIRPOINT COMMS: Clerk Reports on Claim Transfers for May
---------------------------------------------------------
The Clerk of the U.S. Bankruptcy Court for the District of
Delaware recorded the transfers of 68 claims, totaling $108,518,
for the period from May 1, 2010 to May 31, 2010.

The Claims were transferred to these entities:

(a) Blue Heron Micro Opportunities Fund, LP:

Transferor                        Claim No.   Claim Amount
----------                        ---------   ------------
Altiplano Publishing LLC                  -           $758
Billie Mackert                          524           $392
BMC General Contractors                 301         $4,867
BMC General Contractors                5519         $2,408
BMC General Contractors                5520           $389
ConsolidatedElectric LLC               3966           $693
Dodge City Cooperative                   29           $610
Dodge City Cooperative                  930           $610
Hillside Property Maintenance          4459           $295
John Blankenship                          -           $341
KWKR                                   3361           $403
Lee's One Stop, LLC                       -           $417
Lemsco, Inc.                              -           $510
Northern Toyotalift                       -           $472
Richie Levensaler                         -           $400
Steve Cook                                -           $720
Symmetricom Inc.                          -           $672
Vessels Services                        918           $268

(b) Corre Opportunities Fund, LP:

Transferor                        Claim No.   Claim Amount
----------                        ---------   ------------
Actellis Networks, Inc.                   -         $6,076
Green Mountain Traffic Control Inc.     152        $38,171
Green Mountain Traffic Control Inc.    2368        $38,171

(c) Liquidity Solutions, Inc.:

Transferor                        Claim No.   Claim Amount
----------                        ---------   ------------
Rochester Police Department               -        $10,310

(d) U.S. Debt Recovery V, LP:

Transferor                        Claim No.   Claim Amount
----------                        ---------   ------------
AAA Pump Services Inc.                    -           $817
Entone Technologies                       -         $1,340
Johnson Newspaper Corporation             -           $503

                   About FairPoint Communications

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

FairPoint and its affiliates filed for Chapter 11 on Oct. 26, 2009
(Bankr. 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)


FAIRPOINT COMMS: Files Omnibus Motions to Assume Leases
-------------------------------------------------------
FairPoint Communications Inc. and its units filed omnibus motions
to assume leases.

In their first omnibus motion, the Debtors seek the Court's
authority to assume 96 unexpired non-residential real property
leases and establish cure amounts in connection with the
assumption of the leases pursuant to Section 365 of the Bankruptcy
Code.  A schedule of the 96 Real Property Leases the Debtors seek
to assume is available for free at:

        http://bankrupt.com/misc/FairPt_assumedleases1.pdf

The Debtors believe that each of the 96 Leases hold value for
their estates.  The Debtors propose to pay $238,472 in the
aggregate as Cure Amounts for their assumption of the Leases.  The
Debtors tell the Court that they intend to pay the Cure Amounts
within 15 days after the entry of a final order approving their
request.

In their second omnibus motion, the Debtors ask Judge Lifland for
authority to assume 49 non- residential real property leases and
pay $455,435 in cure amounts with respect to the leases.  A
schedule of the 49 Real Property Leases the Debtors seek to
assume is available for free at:

        http://bankrupt.com/misc/FairPt_assumedleases2.pdf

                  About FairPoint Communications

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

FairPoint and its affiliates filed for Chapter 11 on Oct. 26, 2009
(Bankr. 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)


FAM PROPERTIES 1: Case Summary & 9 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: FAM Properties 1, LLC
        327 W. 3rd Avenue, Suite201
        Spokane, WA 99201

Bankruptcy Case No.: 10-03361

Chapter 11 Petition Date: June 3, 2010

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

Debtor's Counsel: Michael J. Paukert, Esq.
                  Paukert & Troppmann P.S.
                  522 W. Riverside Avenue, Suite 560
                  Spokane, WA 99201
                  Tel: (509) 232-7760
                  Fax: (509) 232-7762
                  E-mail: mpaukert@paukertlawgroup.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
$3,260,000 while debts total $2,379,085.

A copy of the Company's list of 9 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/waeb10-03361.pdf

The petition was signed by Frank A. DeCaro, member/manager.


FAM PROPERTIES 2: Case Summary & 5 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: FAM Properties 2, LLC
        327 W. Third, Suite 201
        Spokane, WA 99201

Bankruptcy Case No.: 10-03362

Chapter 11 Petition Date: June 3, 2010

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

Debtor's Counsel: Michael J. Paukert, Esq.
                  Paukert & Troppmann P.S.
                  522 W. Riverside Avenue, Suite 560
                  Spokane, WA 99201
                  Tel: (509) 232-7760
                  Fax: (509) 232-7762
                  E-mail: mpaukert@paukertlawgroup.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
$1,770,000 while debts total $1,481,993.

A copy of the Company's list of 5 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/waeb10-03362.pdf

The petition was signed by Frank A. DeCaro, managing member.


FIRSTFED FINANCIAL: Law Firm Offers to Litigate with Ex-Auditors
----------------------------------------------------------------
First Fed Financial Corp. disclosed in its monthly report to the
Bankruptcy Court for May 2010 that it has engaged Crowe Horwath to
help in the filing of its 2009 federal tax return to maximize the
refund to the debtor.  The firm will also help resolve the 2008
IRS audit currently under way.  The Debtor also received a
proposal from a law firm to litigate with the Debtor's former
auditors.  The proposal was on a modified contingency basis and
will be discussed with Wilmington Trust who represents the
Debtor's major creditors.

The Debtor said there is a potential refund of over $90 million
relating to loss carrybacks from earlier tax years.  The Debtor
said the FDIC, in its capacity as Receiver for the Debtor's bank
subsidiary, may claim that it is entitled to some or all of any
such tax refund.  The Debtor reserves its rights with respect to
any such claim by the FDIC.

The Debtor said it continues to investigate potential claims
against third parties to determine potential for recovery.  No
Committee of Unsecured Creditors has been appointed in the case.
However, the Debtor continues to work and communicate
cooperatively with Wilmington Trust, its principal unsecured
creditor, concerning all aspects of the case.

On May 21, 2010, Babette E. Heimbuch resigned as a member of the
Board of Directors of FirstFed Financial.  In addition, on that
date Ms. Heimbuch concluded her service as Chief Executive
Officer, President and Chief Financial Officer of the Company.
Ms. Heimbuch's separation from the Company did not result from any
disagreement with the Company concerning any matter relating to
the Company's operations, policies or practices.

Based in California, FirstFed Financial Corp. filed for Chapter 11
protection on Jan. 6, 2010 (Bankr. C.D. Calif. Case No. 10-10150).
Jon L. Dalberg, Esq., at Landau Gottfried & Berger LLP, represents
the Debtor in its restructuring efforts.  In its petition, the
Debtor listed assets of between $1 million and $10 million, and
debts of between $100 million and $500 million.


FLYING J: Expects to Emerge from Bankruptcy by July 31
------------------------------------------------------
Paul Beebe at The Salt Lake Tribune reports that Flying J Inc.
said it is about to complete the merger of its network of 270
travel centers and fuel stops with Pilot Travel Centers.  The
Company expects to emerge from bankruptcy protection by July 31,
2010.

                       About Flying J Inc.

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

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

Blackstone Advisory Services L.P. is the Debtors' investment
banker and financial advisor.  Epiq Bankruptcy Solutions LLC is
the Debtors' notice, claims and balloting agent.  In its formal
schedules submitted to the Bankruptcy Court, Flying J listed
assets of $1,433,724,226 and debts of $640,958,656.

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


FRISIA FARMS: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Frisia Farms, Inc.
        7469 CR 209
        Hico, TX 76457

Bankruptcy Case No.: 10-43791

Chapter 11 Petition Date: June 1, 2010

Court: U.S. Bankruptcy Court
       Northern District of Texas (Ft. Worth)

Judge: D. Michael Lynn

Debtor's Counsel: St. Clair Newbern III, Esq.
                  Law Offices of St. Clair Newbern III, P.C
                  1701 River Run, Suite 1000
                  Fort Worth, TX 76107
                  Tel: (817) 870-2647
                  E-mail: filing@newbernlawoffice.com

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

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

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

The petition was signed by Klaas Talsma, president.


GARTH INVESTMENTS: Case Summary & Largest Unsecured Creditor
------------------------------------------------------------
Debtor: Garth Investments, L.P.
        601 E. Newport Ln
        McAllen, TX 78501

Bankruptcy Case No.: 10-70416

Chapter 11 Petition Date: May 31, 2010

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

Judge: Richard S. Schmidt

Debtor's Counsel: Jose Luis Flores, Esq.
                  Attorney at Law
                  1111 W Nolana
                  McAllen, TX 78504
                  Tel: (956) 682-0924
                  Fax: (956) 682-3838
                  E-mail: bklaw@jlfloreslawfirm.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
$2,464,551 while debts total $2,002,167.

The petition was signed by Gregg Thrash, president.

The list of creditors filed together with the petition contains
only one entry:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Cameron County Tax Office          Property Taxes          $56,791
200 Industrial Way
La Feria, TX 78559


GEMCRAFT HOMES: Court OKs Auction of Real Property on July 15
-------------------------------------------------------------
The Hon. Nancy V. Alquist of the U.S. Bankruptcy Court for the
District of Maryland approved Gemcraft Homes, Inc., et al.'s sale
of certain parcels of real property, comprised of three multiple
residential development projects in Harford County, Maryland, Kent
County, Delaware, and York, Pennsylvania subject to liens held by
The Columbia Bank.

The auction will take place on July 13, 2010, with bidding
beginning at 11:00 a.m. at the offices of Cole, Schotz, Meisel,
Forman & Leonard, P.A., 300 E. Lombard Street, Suite 2000,
Baltimore, Maryland.  In order to join the auction, initial bids
must be sent by 5:00 p.m. (Eastern Standard Time) on July 6.

The Court will consider approval of the sale of the assets on
July 15, at 11:00 a.m., U.S. Bankruptcy Court, 101 West Lombard
Street, Courtroom 2-A, Baltimore, Maryland.

The Court also ordered that Columbia Bank will not move to lift
the automatic stay during the sale process, and, if the bank is
unsatisfied with the auction results, then the bank's remedy is
limited to acquiring the properties by credit bidding at the
auction.

                      About Gemcraft Homes

Gemcraft Homes, Inc., is a corporation formed under the laws of
the State of Maryland with its principal place of business located
in Harford County, Maryland.  Gemcraft was founded in 1993 with a
single sales trailer in Abingdon, Maryland, from which six
residential homes were sold.  Since that time, Gemcraft has grown
to become one of the largest independent homebuilders in the Mid-
Atlantic region, and one of the fastest growing builders in the
entire country.  Gemcraft is a production builder which targets
first-time homebuyers and first-time "move up" buyers.  It also
targets retired, and soon to retire, buyers for its retirement
communities.

The Company filed for Chapter 11 bankruptcy protection on
November 9, 2009 (Bankr. D. Md. Case No. 09-31696).  The Company's
affiliates -- DLM, LLC, et al. -- filed separate Chapter 11
bankruptcy petitions.  G. David Dean II, Esq., Gary H. Leibowitz,
Esq., and Irving Edward Walker, Esq., at Cole Schotz Meisel Forman
& Leonard, PA, assist Gemcraft Homes in its restructuring effort.
The Company listed $100,000,001 to $500,000,000 in assets and
$50,000,001 to $100,000,000 in liabilities.


GENERAL FABRICATORS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: General Fabricators, Inc.
        P.O. Box 7
        Delcambre, LA 70528-0007

Bankruptcy Case No.: 10-50825

Chapter 11 Petition Date: May 31, 2010

Court: United States Bankruptcy Court
       Western District of Louisiana (Lafayette/Opelousas)

Debtor's Counsel: G. Paul Marx, Esq.
                  P.O. Box 82389
                  Lafayette, LA 70598
                  Tel: (337) 237-2537
                  E-mail: gpmarx@sprynet.com

Scheduled Assets: $658,741

Scheduled Debts: $1.349,400

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/lawb10-50825.pdf

The petition was signed by John Clifford Renard, company's
president.


GENERAL MOTORS: To Resume Super Bowl Advertisements
---------------------------------------------------
According to Suzanne Vranica at The Wall Street Journal, people
familiar with the matter said General Motors Co. is returning to
the Super Bowl after a two-year hiatus in a sign that the auto
industry is steering big bucks back into advertising.

The Journal notes GM, whose brands include Chevrolet and Cadillac,
sent a chill down Madison Avenue when it pulled out of the Super
Bowl in 2009 as it descended into bankruptcy. It was a blow to the
game: GM had appeared in 15 National Football League Championships
and spent a total of $80.5 million on Super Bowl air time,
according to Kantar Media, an ad tracking unit of WPP PLC.

The Journal says a U.S. Treasury representative wasn't available
for comment on GM's Super Bowl plans.

                       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 March 31, 2010, GM had US$136.021 billion in total assets,
total liabilities of US$105.970 billion and preferred stock of
US$6.998 billion, and non-controlling interests of US$814 million,
resulting in total equity of US$23.053 billion.

                   About Motors Liquidation

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

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

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


GENERAL MOTORS: District Court Rules Against Sale Objectors
-----------------------------------------------------------
As previously reported, Oliver Addison Parker objected to the
motion of General Motors to sell substantially all of its assets
to a U.S. Treasury-backed acquisition company pursuant to Section
363 of the Bankruptcy Code.   Mr. Parker noted that (i) the 363
Motion Transaction was a "sub" plan of reorganization; (ii) "some
or all of the U.S. Government's secured debt should be
recharacterized as equity -- or, alternatively, equitably
subordinated to unsecured debt"; (iii) the "secured debt held by
the U.S. Treasury should be equitably subordinated"; (iv)
bondholders should be "treated as secured creditors"; and (v) the
"U.S. Government was not authorized to use the Troubled Asset
Recovery Program funds to assist the auto industry."

Subsequently, Mr. Parker filed an appeal to the U.S. District
Court for the Southern District of Bankruptcy Court Judge Robert
E. Gerber's approval of the 363 Sale.

In an 84-page opinion, District Judge Robert W. Sweet affirmed
Judge Gerber's decision.  He noted that Mr. Parker's Appeal would
likewise "knock the props out" from under the transactions that
have occurred since the Sale was closed in July 2009.

Similarly, District Court Judge Naomi Reice Buchwald contended
that the appeal of Callan Campbell, et al., "is denied as moot"
and that "the judgment of the Bankruptcy Court is affirmed."

The Campbell Appellants are five products liability claimants
whose contingent claims arise from injuries that allegedly involve
GM vehicles that were sustained prior to the Petition Date and the
363 Sale. The Appellants had each commenced litigation proceedings
against GM in various state and federal courts Against the
Debtors.

In the Bankruptcy Court, the Appellants objected to the 363 Sale,
arguing that, among other things, the Bankruptcy Code does not
authorize a sale "free and clear of potential post-Closing in
personam products liability."

                       About General Motors

With its global headquarters in Detroit, Michigan, General Motors
Company -- http://www.gm.com/-- is one of the world's largest
automakers.  GM employs 207,000 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 the following brands:
Buick, Cadillac, Chevrolet, FAW, GMC, Daewoo, Holden, Opel,
Vauxhall and Wuling. GM's largest national market is the United
States, followed by China, Brazil, Germany, the United Kingdom,
Canada, and Italy.  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 March 31, 2010, GM had $136.021 billion in total assets, total
liabilities of $105.970 billion and preferred stock of $6.998
billion, and non-controlling interests of $814 million, resulting
in total equity of $23.053 billion.

                   About Motors Liquidation

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

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

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


GENERAL MOTORS: Establishes Venture Capital Subsidiary
------------------------------------------------------
General Motors has established General Motors Ventures, LLC, a
subsidiary designed to help the company identify and develop
innovative technologies in the automotive/transportation sector.

Leading the initiative will be Jon J. Lauckner, who is named GM
Vice President and President General Motors Ventures, LLC,
reporting to Stephen J. Girsky, GM vice chairman Corporate
Strategy and New Business Development.  Mr. Lauckner's new
position is effective July 1, 2010.  He was GM vice president of
Global Product Planning.

"We are constantly looking for ways to deliver the best technology
for our customers," said Stephen J. Girsky, GM vice chairman
Corporate Strategy and New Business Development.  "Our goal is to
nurture these innovative technologies to help bring them to
market, and to ensure our customers have access to the best
technology available."

General Motors Ventures, LLC, has been funded with an initial
investment of $100 million, and is currently exploring equity
investments in a number of auto-related technologies and business
models.

                       About General Motors

With its global headquarters in Detroit, Michigan, General Motors
Company -- http://www.gm.com/-- is one of the world's largest
automakers.  GM employs 207,000 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 the following brands:
Buick, Cadillac, Chevrolet, FAW, GMC, Daewoo, Holden, Opel,
Vauxhall and Wuling. GM's largest national market is the United
States, followed by China, Brazil, Germany, the United Kingdom,
Canada, and Italy.  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 March 31, 2010, GM had $136.021 billion in total assets, total
liabilities of $105.970 billion and preferred stock of $6.998
billion, and non-controlling interests of $814 million, resulting
in total equity of $23.053 billion.

                   About Motors Liquidation

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

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

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


GENERAL MOTORS: New GM Had $1.2MM Operating Income for Q1
---------------------------------------------------------
General Motors Company announced on May 17, 2010, its first
quarter 2010 results, marked by revenue of $31.5 billion and
operating income of $1.2 billion.  Net income attributable to
common stockholders was $0.9 billion, resulting in earnings per
share on a diluted basis of $1.66.

GM's first quarter adjusted earnings before interest and tax
(EBIT) was $1.7 billion, after adjusting for the favorable impact
of the sale of the Saab brand.

GM North America had EBIT in the first quarter 2010 of
$1.2 billion, up from a loss of $3.4 billion in the fourth quarter
2009.  GM Europe had a loss before interest and taxes of
$0.5 billion; an improvement of $0.3 billion from the fourth
quarter.  GM International Operations posted EBIT of $1.2 billion,
up $0.5 billion from the fourth quarter.

Cash flow from operating activities was $1.7 billion and after
adjusting for capital expenditures of $0.7 billion, free cash flow
was $1.0 billion.  GM ended the first quarter with $35.7 billion
in cash and marketable securities, including funds in escrow.

"We're pleased with our first quarter performance, in particular
achieving profitability," said Chris Liddell, vice chairman and
chief financial officer.  "In North America we are adding
production to keep up with strong demand for new products in our
four brands.  We're also steadily growing in emerging markets,
keeping our costs under control, generating positive cash flow and
maintaining a strong balance sheet.  These are all important steps
as we lay the foundation for a successful GM."

In its Form-10Q filed with the U.S. Securities and Exchange
Commission, GM related that in the three months ended March 31,
2010, total net sales and revenue increased by $7.0 billion, or
56.6%, primarily due to:

  (1) increased volumes of $6.0 billion due to an improving
      economy;

  (2) favorable pricing of $1.7 billion; and

  (3) favorable mix of $0.3 billion due to increased crossover
      and truck sales.

GM Vice President, Controller and Chief Accounting Officer Nick S.
Cyprus noted that the increases were partially offset by (i) a
decrease of $0.7 billion related to daily rental car revenue, and
(ii) a decrease of $0.6 billion due to unfavorable adjustments to
the accrual for residual support programs for leased vehicles.

In the three months ended March 31, 2010, GM's sales volumes
results included:

  -- foreign currency translation losses of $0.3 billion driven
     by the strengthening of the Canadian Dollar versus the U.S.
     Dollar; and

  -- favorable adjustments of $0.1 billion to restructuring
     reserves due to increased production capacity utilization,
     which resulted in the recall of idled employees to fill
     added shifts at multiple U.S. production sites.

In the three months ended March 31, 2010, total net sales and
revenue increased by $2.3 billion (or 40.7%) primarily due to:

  (1) higher wholesale volumes of $1.0 billion as a result of
      increased sales throughout the region;

  (2) net foreign currency translation and transaction gains of
      $0.5 billion, primarily driven by the strengthening of
      local major currencies such as the Korean Won and
      Australian Dollar versus the U.S. Dollar;

  (3) favorable vehicle mix of $0.3 billion driven by launches
      of new vehicle models;

  (4) favorable pricing effect of $0.1 billion at GM Daewoo on
      newly launched vehicles and $0.1 billion in Venezuela to
      offset the devaluation caused by high inflation rate
      currently being experienced; and

  (5) derivative losses of $0.2 billion that Old GM recorded in
      the three months ended March 31, 2009, which were
      primarily driven by the depreciation of the Korean Won in
      that period.

                   Available Liquidity

At March 31, 2010, available liquidity was $23.5 billion, not
including funds available under credit facilities of $671 million
or in the UST Credit Agreement and Canadian Health Care Trust
(HCT) escrow accounts of $12.3 billion.  The amount of available
liquidity is subject to intra-month and seasonal fluctuations and
includes balances held by various business units and subsidiaries
worldwide that are needed to fund their operations.

At March 31, 2010, GM had substantially completed the process of
changing the Company's payment terms for the majority of its
direct material, service parts and logistics suppliers from
payments to be made on the second day after the second month end
based on the date of purchase, which averages 47 day payment
terms, to weekly payments.  This change did not affect the average
of 47 days that accounts payable are outstanding, but it did
reduce volatility with respect to the Company's intra-month
liquidity and reduced GM's cash balances and liquidity at each
month end.

The change to weekly payment terms results in a better match
between the timing of GM's receipt and disbursement of cash, which
reduces volatility in its cash balances and lowers minimum cash
operating requirements.  The effect of this change on cash
balances for any particular month end will vary based on
production mix and volume.  GM estimated that this change reduced
its cash balances at March 31, 2010, by approximately $2.1 billion
to $2.3 billion for suppliers then subject to the revised payment
terms.

          Defined Benefit Pension Plan Contributions

The Company is considering making a discretionary contribution to
the U.S. hourly defined benefit pension plan.  This discretionary
contribution is being considered to offset the effect of the
increase to the projected benefit obligation of the U.S. hourly
defined benefit pension plan incurred as a result of the Delphi
Benefit Guarantee Agreements being triggered as well as to
possibly reduce the projected future cash funding requirements. We
are currently evaluating the amount, timing, and form of assets
that may be contributed.

            Guarantees Provided to Third Parties

GM has provided guarantees related to the residual value of
operating leases, certain suppliers' commitments, certain product-
related claims and commercial loans made by GMAC and outstanding
with certain third parties excluding residual support and risk
sharing related to GMAC.  The maximum potential obligation under
these commitments is $709 million at March 31, 2010.  This amount
includes a guarantee provided to GMAC in Brazil in connection with
dealer floor plan financing, which is secured by an interest in
certificates of deposit of $8 million purchased from GMAC to which
we have title.

The Company's current agreement with GMAC requires the repurchase
of GMAC financed inventory invoiced to dealers after September 1,
2008, with limited exclusions, in the event of a qualifying
voluntary or involuntary termination of the dealer's sales and
service agreement.  Repurchase obligations exclude vehicles which
are damaged, have excessive mileage or have been altered.  The
repurchase obligation ends in August 2010 for vehicles invoiced
through August 2009 and ends in August 2011 for vehicles invoiced
through August 2010.

The maximum potential amount of future payments required to be
made to GMAC under this guarantee would be based on the repurchase
value of total eligible vehicles financed by GMAC in dealer stock
and is estimated to be $15.4 billion at March 31, 2010.  If
vehicles are required to be repurchased under this arrangement,
the total exposure would be reduced to the extent vehicles are
able to be resold to another dealer or at auction.  The fair value
of the guarantee was $35 million at March 31, 2010, which
considers the likelihood of dealers terminating and estimated loss
exposure for the ultimate disposition of vehicles.

             Opel/Vauxhall Restructuring Activities

In February 2010, GM presented its plan for the long-term
viability of the Company's Opel/Vauxhall operations to the German
government.  The plan includes funding requirement estimates of
EUR3.7 billion -- equivalent to $5.1 billion -- of which we plan
to fund EUR1.9 billion -- equivalent to $2.6 billion -- with the
remaining funding from European governments.  The Company is
currently in discussions with European governments concerning
funding support.  GM plans to invest in capital, engineering and
innovative fuel efficient powertrain technologies including an
extended-range electric vehicle and battery electric vehicles.  GM
plan also includes aggressive capacity reductions including
headcount reductions and the closing of GM's Antwerp, Belgium
facility.

In the three months ended March 31, 2010, GM Europe recorded
charges of $72 million related to separation/layoff plans and an
early retirement plan in Spain which will affect 1,200 employees.
GME also recorded charges of $184 million as the legal minimum for
a separation plan related to the closure of the Antwerp, Belgium
facility.  Negotiations for the final termination benefits were
concluded in April 2010, and the total separation costs are
estimated to be EUR0.4 billion -- equivalent to $0.5 billion --
which affect 2,600 employees.  In addition, GME and employee
representatives entered into a Memorandum of Understanding whereby
both parties will cooperate in a working group, led by the Flemish
government, in order to find an outside investor to acquire the
facility.  The search will conclude at the end of September 2010.

"If an investor is found, the investor will determine the number
of employees that it would hire.  Employees who had not previously
accepted termination benefits and were not hired by the purchaser
of the plant would receive termination benefits.  If an investor
is not found, termination benefits will be offered to the
remaining employees and the facility will close by December 31,
2010," Mr. Cyprus related.

In the three months ended March 31, 2010, economic and industry
factors continued to be challenging but they have improved
compared to the corresponding period in 2009.  GME's vehicle sales
in the United States increased by 64,000 vehicles or 15.6%, its
United States market share was 18.4%, its vehicle sales in Canada
decreased by 3,000 vehicles or 5.0%, and its vehicle sales in
Mexico increased by 1,000 vehicles or 3.2%.

                   Legal Proceedings

In the case litigated in the United States District Court for the
Eastern District of Michigan captioned "Dennis Black, Charles
Cunningham, Kenneth Hollis and the Delphi Salaried Retiree
Association v. The Pension Benefit Guaranty Corporation, the US
Treasury Departments, The Presidential Task Force on the Auto
Industry, Timothy Geithner, Steve Rattner, Ron Bloom and General
Motors Company" in which GM was served with an Amended Complaint,
Plaintiffs sought and obtained on March 12, 2010, dismissal of
their lawsuit against GM.  That dismissal, however, does not
preclude plaintiffs from petitioning the U.S. Bankruptcy Court for
the Southern District of New York in the future to set aside its
injunction based upon new evidence that GM had willfully violated
Plaintiffs' constitutional rights.

At this time, it appears unlikely that Plaintiffs will be able to
discover or present any new evidence and that the matter is
concluded as to GM, Mr. Cyprus said.

                     Environmental Matters

GM and the Alliance of Automobile Manufacturers, the Association
of International Automobile Manufacturers, Chrysler, and various
automobile dealers brought suit for declaratory and injunctive
relief from state regulations imposing stringent controls on new
motor vehicle CO2 emissions.  On April 1, 2010, California
completed rulemaking to revise its CO2 standards, and the EPA and
the National Highway Traffic Safety Administration completed
rulemaking to establish coordinated vehicle CO2 emissions and fuel
economy standards.  The parties have reached agreement on the
terms for dismissal of all pending litigation against the state
standards, in which GM is involved, and requests to dismiss these
actions were filed in six courts in early April 2010.  All courts
have granted the motions to dismiss and GM considers this matter
to be closed as to GM.

At March 31, 2010, GM employed 205,000 employees.  As of May 1,
2010, the number of shares outstanding of $0.01 par value common
stock was 500,000,000 shares.

A full-text copy of GM's First Quarter Results is accessible at
the SEC at http://ResearchArchives.com/t/s?628c

            General Motors Company and Subsidiaries
         Unaudited Condensed Consolidated Balance Sheet
                    As of March 31, 2010
                       (In Thousands)


ASSETS
Current Assets:
Cash and cash equivalents                           $23,310,000
Marketable securities                                   153,000
                                                  --------------
Total cash, cash equivalents & marketable
securities                                           23,463,000

Restricted cash                                      12,741,000
Accounts and notes receivable, net                    8,694,000
Inventories                                          11,192,000
Assets held for sale                                     60,000
Equipment on operating leases, net                    2,319,000
Other current assets and deferred income taxes        1,888,000
                                                  --------------
Total current assets                                  60,357,000

Non-current Assets:
Restricted cash and marketable securities             8,430,000
Assets held for sale                                          -
Property, net                                        18,432,000
Goodwill                                             30,487,000
Intangible assets, net                               13,690,000
Other assets                                          4,625,000
                                                  --------------
Total non-current assets                              75,664,000

Total Assets                                        $136,021,000
                                                  ==============

LIABILITIES AND EQUITY (DEFICIT)
Current Liabilities
Accounts payable                                    $20,450,000
Short-term debt & current portion of long-term        8,773,000
Liabilities held for sale                                60,000
Accrued expenses                                     22,755,000
                                                  --------------
Total current liabilities                             52,038,000

Non-Current Liabilities
Long-term debt                                        5,401,000
Liabilities held for sale                                     -
Postretirement benefits other than pensions           8,794,000
Pensions                                             26,492,000
Other liabilities and deferred income taxes          13,245,000
                                                  --------------
Total non-current liabilities                         53,932,000

Total liabilities                                    105,970,000

Commitments and contingencies                                 -
Preferred stock                                       6,998,000

Equity (Deficit)
Common stock                                              5,000
Capital surplus                                      24,050,000
Accumulated deficit                                  (3,529,000)
Accumulated other comprehensive income                1,713,000
                                                  --------------
Total stockholders' equity (deficit)                 22,239,000
Non-controlling interests                               814,000
                                                  --------------
Total equity (deficit)                                23,053,000
                                                  --------------
Total Liabilities and Equity                        $136,021,000
                                                  ==============

            General Motors Company and Subsidiaries
   Unaudited Condensed Consolidated Statement of Operations
               Three Months Ended March 31, 2010
                       (In Thousands)

Net sales and revenue                                $31,476,000
Cost and expenses
Cost of sales                                        27,591,000
Selling, general and administrative                   2,684,000
Other expenses, net                                      46,000
                                                  --------------
Total costs and expenses                              30,321,000
                                                  --------------
Operating income (loss)                               1,155,000

Equity in loss of GMAC                                         -
Interest expense                                        (337,000)
Interest income & other non-operating income, net        485,000
Gain (loss) on extinguishment of debt                     (1,000)
                                                  --------------
Income (loss) before income taxes & equity income      1,302,000
Income tax expense (benefit)                             509,000
Equity income, net of tax                                403,000
                                                  --------------
Net income (loss)                                      1,196,000
Less: Net (income) loss attributable
to stockholders                                         128,000
                                                  --------------
Net (income) loss attributable to stockholders         1,068,000
Less: Cumulative dividends on preferred stock            203,000
                                                  --------------
Net (income) loss attributable to common
stockholders                                           $865,000
                                                  ==============

            General Motors Company and Subsidiaries
   Unaudited Condensed Consolidated Statement of Cash Flows
               Three Months Ended March 31, 2010
                       (In Thousands)

Net cash provided by (used in) operating
Activities                                           $1,746,000

Cash flows from investing activities
Expenditures for property                              (755,000)
Investments in marketable securities, acquisitions      (88,000)
Investments in marketable securities, liquidations       76,000
Investment in GMAC                                            -
Investment in companies, net of cash required           (50,000)
Operating leases, liquidations                          134,000
Change in restricted cash                             1,241,000
Other                                                    88,000
                                                  --------------
Net cash provided by (used in) investing
activities                                              646,000

Cash flows from financing activities
Net decrease in short-term debt                        (100,000)
Proceeds from debt owed to UST                                -
Proceeds from issuance of long-term debt                117,000
Proceeds from debt owed to UST and EDC               (1,379,000)
Payments on long-term debt                             (123,000)
Fees paid for debt modification                               -
Cash dividends paid to GM preferred stockholders       (203,000)
                                                  --------------
Net cash provided by financing activities             (1,688,000)

Effect of change rate changes on cash and
cash equivalents                                        (53,000)
                                                  --------------
Net increase (decrease) in cash & cash
equivalents                                             651,000
Cash and cash equivalents reclassified to assets
held for sale                                           (20,000)
Cash and cash equivalents at beginning of period      22,679,000
                                                  --------------
Cash and cash equivalents at end of the period       $23,310,000
                                                  ==============

                     Financial Disclosures

In a Form 10-12G filed with the U.S. Securities and Exchange
Commission on May 17, 2010, General Motors Co. disclosed certain
amendments to their financial statements Form 10-K and Form 10-Q.

The Amendments specifically relate to:

  * the description of material provisions regarding GM's
    Capital Stock based upon the Company's Amended and Restated
    Certificate of Incorporation; the Amended and Restated
    Bylaws, the Amended and Restated Warrant Agreements dated as
    of October 16, 2009, between GM and U.S. Bank National
    Association, as Warrant Agent; the Certificate of
    Designations for the Series A Preferred Stock; and
    applicable provisions of law.

  * a description of the Stockholders Agreement dated as of
    October 15, 2009, among GM, the U.S. Trustee, the New VEBA,
    Canada Holdings and GM's previous legal entity prior to its
    October 2009 holding company reorganization;

  * GM's 3,500,000,000 shares of Capital Stock, which the
    Company is authorized to issue under its Company's
    Certificate of Incorporation;

  * the shares of Capital Stock and Warrants to acquire shares
    of capital stock that were issued and outstanding;

  * special meetings of stockholders, which, under the GM's
    Bylaws, may be called at any time by the chairman of the
    Board of Directors or by a majority of the members of the
    Board of Directors, or upon the written request of the
    record holders of at least 15% of the voting power of the
    outstanding shares of all classes of stock entitled to vote
    at the Meeting; and

  * requirements for Notice of Stockholder Director Nominations
    and Stockholder Business.

A full-text copy of GM's Form 10-12G is accessible from the SEC
at http://ResearchArchives.com/t/s?62b9

                       About General Motors

With its global headquarters in Detroit, Michigan, General Motors
Company -- http://www.gm.com/-- is one of the world's largest
automakers.  GM employs 207,000 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 the following brands:
Buick, Cadillac, Chevrolet, FAW, GMC, Daewoo, Holden, Opel,
Vauxhall and Wuling. GM's largest national market is the United
States, followed by China, Brazil, Germany, the United Kingdom,
Canada, and Italy.  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 March 31, 2010, GM had $136.021 billion in total assets, total
liabilities of $105.970 billion and preferred stock of $6.998
billion, and non-controlling interests of $814 million, resulting
in total equity of $23.053 billion.

                   About Motors Liquidation

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

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

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


GENERAL MOTORS: New GM Wants to Enforce Bankr. Sale Order
---------------------------------------------------------
General Motors, LLC, or "New GM" asks the U.S. Bankruptcy Court
for the Southern District of New York to enforce the Sale Order
entered on July 5, 2009, pursuant to Section 363 of the Bankruptcy
Code.

New GM is named defendant in six lawsuits filed in different
jurisdictions in the United States asserting product liability
claims based on accidents or incidents that occurred prior to the
closing of the sale transaction on July 10, 2009.  New GM tells
the Court that it has informed the Accident Plaintiffs of the
provisions of the Amended and Restated Master Sale and Purchase
Agreement, dated June 26, 2009, and the 363 Sale Order, which,
among others, expressly provide that New GM would not assume any
claims with respect to Product Liabilities of the Debtors, except
those arising from accidents or other discrete incidents arising
from the operation of General Motors vehicles occurring subsequent
to the closing of the 363 Transaction on July 10, 2009.  The MSPA
and the 363 Sale Order provided that all other Product Liability
Claims would be retained by the Debtors and not transferred to New
GM under any circumstances whatsoever.

According to New GM, the Accident Plaintiffs refused to dismiss
the civil actions.

Because the Accident Plaintiffs refuse to abide by the 363 Sale
Order, New GM asks the Court to enter an order pursuant to Section
105 of the Bankruptcy Code (a) enforcing the 363 Sale Order, (b)
enjoining the Accident Plaintiffs from prosecuting or otherwise
pursuing the claims asserted against New GM in the Accident
Plaintiffs' Civil Actions, and (c) directing the Accident
Plaintiffs to promptly dismiss New GM from each of the Accident
Plaintiffs' Civil Actions, with prejudice.

                       About General Motors

With its global headquarters in Detroit, Michigan, General Motors
Company -- http://www.gm.com/-- is one of the world's largest
automakers.  GM employs 207,000 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 the following brands:
Buick, Cadillac, Chevrolet, FAW, GMC, Daewoo, Holden, Opel,
Vauxhall and Wuling. GM's largest national market is the United
States, followed by China, Brazil, Germany, the United Kingdom,
Canada, and Italy.  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 March 31, 2010, GM had $136.021 billion in total assets, total
liabilities of $105.970 billion and preferred stock of $6.998
billion, and non-controlling interests of $814 million, resulting
in total equity of $23.053 billion.

                   About Motors Liquidation

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

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

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


GENERAL MOTORS: Trafalet Okayed as Asbestos Claims Representative
-----------------------------------------------------------------
Judge Gerber appointed Dean M. Trafelet as the legal
representative of individuals who were exposed to asbestos or
asbestos-containing products that were manufactured, sold,
supplied, produced, distributed, released, or marketed by any of
the Debtors but who, prior to confirmation of a chapter 11 plan
for Motors Liquidation Company, have not manifested symptoms of
asbestos-related diseases resulting from those exposures.

The Future Claimants' Representative will have standing under
Section 1109(b) of the Bankruptcy Code to be heard as a party-in-
interest in all matters relating to the Debtors' Chapter 11 cases,
as appropriate.  He will have the powers and duties of a committee
as set forth in Section 1103 of the Bankruptcy Code, as are
appropriate for a Future Claimants' Representative.

                       About General Motors

With its global headquarters in Detroit, Michigan, General Motors
Company -- http://www.gm.com/-- is one of the world's largest
automakers.  GM employs 207,000 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 the following brands:
Buick, Cadillac, Chevrolet, FAW, GMC, Daewoo, Holden, Opel,
Vauxhall and Wuling. GM's largest national market is the United
States, followed by China, Brazil, Germany, the United Kingdom,
Canada, and Italy.  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 March 31, 2010, GM had $136.021 billion in total assets, total
liabilities of $105.970 billion and preferred stock of $6.998
billion, and non-controlling interests of $814 million, resulting
in total equity of $23.053 billion.

                   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)


GUANGZHOU GLOBAL: Posts $1.5 Million Net Loss for Q1 2010
---------------------------------------------------------
Guangzhou Global Telecom, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $1,470,520 on $9,421,121 on revenue
for the three months ended March 31, 2010, compared with a net
loss of $713,126 on $11,022,375 of revenue for the same period
ended March 31, 2009.

The Company's balance sheet as of March 31, 2010, showed
$3,191,972 in assets and $5,276,596 of liabilities, for a
stockholders' deficit of $2,084,624.

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

               http://researcharchives.com/t/s?641d

Guangzhou, PRC-based Guangzhou Global Telecom, Inc. was
incorporated as Avalon Development Enterprises, Inc. on March 29,
1999, under the laws of the State of Florida.  The Company is now
a nationally integrated mobile phone handset and pre-paid calling
card distributor and provider of mobile handset value-added
services.  The Company serves as a principle distribution agent
for China Telecom, China Unicom, and China Mobile.  The Company
also maintains and operates the largest prepaid mobile phone card
sales and distribution center in Guangdong Province and maintains
cooperative distribution relationships with VK, Panasonic,
Motorola, LG, GE and Bird corporations, among others.

                           *     *     *

Samuel H. Wong & Co., LLP, in South San Francisco, Calif.,
expressed substantial doubt about the Company's ability to
continue as a going concern after reviewing the Company's
financial statements for the three months ended March 31, 2010.
The independent auditors noted that the Company has incurred
substantial losses, and may be unable to settle value added taxes
payable to the PRC government and past due balances owed to the
holders of the Company's debentures.


HAMMERTOE HOLDINGS: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Hammertoe Holdings, Inc.
        3157 Commodore Plaza
        Coconut Grove, FL 33133

Bankruptcy Case No.: 10-25439

Chapter 11 Petition Date: June 2, 2010

Court: United States Bankruptcy Court
       Southern District of Florida (Miami)

Judge: Robert A. Mark

Debtor's Counsel: James B Miller, Esq.
                  19 W Flagler St #416
                  Miami, FL 33130
                  Tel: (305) 374-0200
                  Fax: (305) 374-0250
                  E-mail: bkcmiami@gmail.com

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

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

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

The petition was signed by John El-Masry, president/chairman.


HARBOUR EAST: Wants Access to Rental Income and Defaulted Deals
---------------------------------------------------------------
Harbour East Development, Ltd., asks the U.S. Bankruptcy Court for
the Southern District of Florida for authorization to use (1)
rental income received from the tenants of its condominium units,
and (2) forfeited deposits relating to defaulted purchase
agreements.

The Debtor owns luxury residential condominium development known
as CIELO on the Bay located at 7935 East Drive, North Bay Village,
Florida.

In sum, the Debtor's potential recovery is in excess of $1,000,000
from defaulted contracts.  The Debtor has defaulted 4 purchasers
and has approximately $480,000 in forfeited deposits available for
use in paying condominium assessments, completing condominium
units for rental or sale, and completing certain common area
improvements and equipment purchases.  The Debtor has 3 additional
contracts involving deposits of $698,900 that are in litigation.
If the Debtor is successful in this litigation, the Debtor will
have another $350,000 available for use.  Finally, the Debtor has
an additional 4 contracts that may be defaulted, pursuant to which
the Debtor would receive an additional $300,000 in forfeited
deposits.

The Debtor relates that 7935 NBV, LLC, as successor to Northern,
may assert a first mortgage lien against the property to secure
its claim.  7935 NBV, LLC may also assert an interest in the rents
of the property and a security interest in the forfeited deposits.
The nominal principal amount of this claim is approximately
$14,000,000.  7935 NBV contends that the fair market value of the
property securing its claim is approximately $8,000,000.

Bay Condominium Association, Inc. has a lien on individual
condominium units for unpaid assessments.

In addition to 7395 NBV and the association, Mario Egozi, manager/
member of the general partner -- Harbour Development, LC, a
Florida limited liability company, may assert as secured claim as
subrogee of Northern in the amount of approximately $3,000,000.
The project's architect, RVL Architecture Design, P.A., asserts a
mechanic's lien against the property, but the Debtor believes that
the mechanic's lien is subordinate to senior interests that the
claim is wholly unsecured.  Finally, Whirlpool Corporation asserts
a purchase money security interest in certain appliances that it
delivered and installed on the property.

The Debtor will use the cash collateral to pay operating, sales
and marketing expenses and to fund capital improvements to the
property.  The Debtor intends to ready the condominium units for
occupancy and offer them for lease under both conventional leases
and rent-to-own agreements.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtors will grant the lenders replacement lien
upon future rental income, future earnest money deposits that will
be received upon the execution of new purchase agreements relating
to condominium units, and personal property purchased and
installed upon the property.

                        About Harbour East

North Bay Villae, Florida-based Harbour East Development, Ltd.,
filed for Chapter 11 bankruptcy protection on April 22, 2010
(Bankr. S.D. Fla. Case No. 10-20733).  Michael L Schuster, Esq.,
who has an office in Miami, Florida, assists the Company in its
restructuring effort.  The Company estimated its assets and debts
at $10,000,001 to $50,000,000.


HARRAH'S ENTERTAINMENT: Notes Offering Escrow Conditions Satisfied
------------------------------------------------------------------
Harrah's Entertainment, Inc., previously announced that its units
Harrah's Operating Escrow LLC and Harrah's Escrow Corporation
completed the offering of $750,000,000 aggregate principal amount
of 12.75% second-priority senior secured notes due 2018.

The Company further said that pursuant to an escrow agreement
dated as of April 16, 2010, among U.S. Bank National Association,
as escrow agent and securities intermediary, U.S. Bank National
Association, as trustee under the Indenture and the Escrow
Issuers, the Escrow Issuers deposited the gross proceeds of the
notes, together with additional amounts necessary to redeem the
notes, if applicable, into a segregated escrow account until the
date that certain escrow conditions were satisfied.

The escrow conditions included, inter alia, the assumption by the
Company of all obligations of the Escrow Issuers under the notes,
the expiration of the notice periods for the redemption of any and
all of the Company's outstanding 5.50% Senior Notes due 2010, 8.0%
Senior Notes due 2011 and 8.125% Senior Subordinated Notes due
2011 and the application of the net proceeds from the issuance of
the notes to the Redemptions.

On May 20, 2010, the escrow conditions were satisfied and the HOC
Assumption and the Redemptions were consummated.

A full-text copy of the supplemental indenture is available for
free at:

               http://ResearchArchives.com/t/s?6437

A full-text copy of the Registration Rights Agreement Joinder is
available for free at:

               http://ResearchArchives.com/t/s?6438

A full-text copy of the joinder and supplement to intercreditor
agreement is available for free at:

               http://ResearchArchives.com/t/s?6439

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.


HEDIEH, INC.: Case Summary & 2 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Hedieh, Inc.
        45201 Global Plaza
        Sterling, VA 20166

Bankruptcy Case No.: 10-14587

Chapter 11 Petition Date: June 2, 2010

Court: U.S. Bankruptcy Court
       Eastern District of Virginia (Alexandria)

Judge: Robert G. Mayer

Debtor's Counsel: Ann E. Schmitt, Esq.
                  Culbert & Schmitt, PLLC
                  30C Catoctin Circle SE
                  Leesburg, VA 20175
                  Tel: (703) 737-6377
                  Fax: (703) 737-6370
                  E-mail: aschmitt@culbert-schmitt.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
$2,013,200 while debts total $ 1,923,941.

A copy of the Company's list of 2 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/vaeb10-14587.pdf

The petition was signed by Mansour Yazdani, president.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Sterling WH, LLC                      09-18914            10/29/09


HENRY L ANDERSON: IRS Wants Case Converted to Ch. 7 Liquidation
---------------------------------------------------------------
The United States of America, on behalf of its agency Internal
Revenue Service, asks the U.S. Bankruptcy Court for the Eastern
District of North Carolina to dismiss or convert the Chapter 11
case Henry L. Anderson to one under Chapter 7 of the Bankruptcy
Code.

The U.S. attorney for the Eastern District of North Carolina
explains that the Debtor:

   -- failed to timely file the postpetition tax deposits;

   -- failed to timely file postpetition tax deposits even after
      April 2010, when the Debtor's counsel was contacted by the
      IRS;

   -- cannot fund the payment of the IRS claim in a Chapter 11
      case under the Bankruptcy Code based on the Debtor's alleged
      income; and

   -- cannot confirm a plan that is feasible.

Wrightsville Beach, North Carolina-based Henry L. Anderson, Jr.,
filed for Chapter 11 bankruptcy protection on February 3, 2010
(Bankr. E.D. N.C. Case No. 10-00809).  Trawick H. Stubbs, Jr.,
Esq., at Stubbs & Perdue, P.A., assists the Company in its
restructuring effort.  The Company has assets of $17,913,107, and
total debts of $10,730,549.


HSAD 3949: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor: HSAD 3949 Lindell, Ltd.
        dba HSAD 3949 Lindell, LP
        c/o Frank J. Wright
        Wright Ginsberg Brusilow P.C.
        14755 Preston Road, Suite 600
        Dallas, TX 75254
        Tel: (972) 788-1600

Bankruptcy Case No.: 10-33986

Chapter 11 Petition Date: June 1, 2010

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

Judge: Barbara J. Houser

Debtor's Counsel: Frank Jennings Wright, Esq.
                  Wright Ginsberg Brusilow P.C.
                  14755 Preston Rd., Suite 600
                  Dallas, TX 75254
                  Tel: (972) 419-4726
                  Fax: (972) 239-0138
                  E-mail: bankruptcy@wgblawfirm.com

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

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

The petition was signed by James P. Hepfner, presidents of GP,
HSAD 3949 Lindell GP, Inc.

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


HOLLYWOOD BEACH: Asks for Court's Nod to Use Cash Collateral
------------------------------------------------------------
Hollywood Beach Gate Resort, Inc., seeks authority from the Court
to use the cash, including those that constitute collateral for
debt owed Park Place Development LLC and Matthew Schloss and Ocean
Way Corp may claim an interest.

Joel M. Aresty, Esq., at Joel M. Aresty, P.A., the attorney for
the Debtor, explains that the Debtor needs to use the cash
collateral to fund its Chapter 11 case, pay suppliers and other
parties.

In exchange for using the cash collateral, the Debtors propose to
grant the Lenders replacement liens on all post-petition property
that is of the same nature and type of each Lenders' pre-petition
collateral.

The Debtors will use the collateral pursuant to a budget, a copy
of which is available for free at:

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

The Debtors will be submitting a more complete budget.

North Miami Beach, Florida-based Hollywood Beach Gate Resort,
Inc., filed for Chapter 11 bankruptcy protection on May 25, 2010
(Bankr. S.D. Fla. Case No. 10-24331).  Joel M. Aresty, Esq., who
has an office in Miami, Florida, 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.


HOLLYWOOD BEACH: Taps Joel M. Aresty as Bankruptcy Counsel
----------------------------------------------------------
Hollywood Beach Gate Resort, Inc., has sought permission from the
U.S. Bankruptcy Court for the Southern District of Florida to
employ Joel M. Aresty, P.A., as bankruptcy counsel.

The Firm will, among other things:

     (a) advise the Debtor with respect to its responsibilities in
         Complying with the U.S. trustee's Operating Guidelines
         and Reporting Requirements and with the rules of the
         court;

     (b) prepare motions, pleadings, orders, applications,
         Adversary proceedings, and other legal documents
         necessary in the administration of the case;

     (c) protect the interest of the debtor in all matters pending
         before the court; and

     (d) represent the debtor in negotiation with its creditors in
         the preparation of a plan.

The Debtor and the Firm didn't disclose how the Firm will be
compensated for its services.

Joel M. Aresty, an attorney at the Firm, assures the Court that
the Firm is "disinterested" as that term is defined in Section
101(14) of the Bankruptcy Code.

North Miami Beach, Florida-based Hollywood Beach Gate Resort,
Inc., filed for Chapter 11 bankruptcy protection on May 25, 2010
(Bankr. S.D. Fla. Case No. 10-24331).  Joel M. Aresty, Esq., who
has an office in Miami, Florida, 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.


HOLLYWOOD MOTION PICTURE: Faces Competing Exit Plan from Lender
---------------------------------------------------------------
Jacqueline Palank at Dow Jones' Daily Bankruptcy Review reports
that Debbie Reynolds's proposed Hollywood memorabilia museum faces
a competing plan to get out of bankruptcy from lender Gregory
Orman.  The Hollywood Motion Picture and Television Museum and Mr.
Orman have objected to each other's exit plan.

According to Dow Jones, both plans discuss an auction of some of
the museum's extensive collection of Hollywood memorabilia.
However, the museum's own plan calls for the completion of the
museum's construction in Pigeon Forge, Tennessee, and would rely
on its developer to advance it funds to pay creditors.  But the
museum said if that project falls apart, it would liquidate its
collection -- which includes Marilyn Monroe's white subway grate
dress from "The Seven-Year Itch" and a pair of Judy Garland's ruby
slippers from "The Wizard of Oz" -- and distribute the proceeds to
creditors.

According to Dow Jones, Mr. Orman, whose plan calls for an auction
of only enough memorabilia to pay all of the museum's creditors in
full, is taking issue with the museum's plan outline in part
because it doesn't provide sufficient detail about just how the
long-delayed project specifically aims to get back on track.

Dow Jones continues that the museum argues there's no way Mr.
Orman's proposed auction can meet an Oct. 31 deadline, given the
fact that the museum possesses the biggest collection of its kind
in the world.  It also took issue with his proposal that the
auctioneer has the right to determine which assets should be sold.

                  About Hollywood Motion Picture

Creston, California-based Hollywood Motion Picture and Television
Museum -- http://www.hmpc.tv/-- is a California non-profit
organization that actress Debbie Reynolds founded to build a
museum for her collection of Hollywood memorabilia.  It owns the
artifacts of Hollywood's Golden Age that Ms. Reynolds collected
over several decades.

The Hollywood Motion Picture and Television Museum filed for
Chapter 11 bankruptcy protection on June 12, 2009 (Bankr. C.D.
Calif. Case No. 09-12311).  Judge Robin Riblet presides over the
case.  Peter Susi, Esq. -- cheryl@msmlaw.com -- in Santa Barbara,
California, serves as counsel to the Debtor.  In its petition, the
Debtor disclosed estimated assets of $10 million to $50 million;
and estimated debts of $1 million to $10 million.

Hollywood Motion Picture Trust filed for Chapter 11 bankruptcy on
February 24, 2010 (Bankr. C.D. Calif. Case No. 10-10864) also
before Judge Riblet.  Peter Susi, Esq., also serves as counsel to
the Trust.  In schedules filed together with the petition, the
Trust disclosed total assets of $5,261,474, and total debts of
$5,556,944.


HWY 69: Case Summary & 3 Largest Unsecured Creditors
----------------------------------------------------
Debtor: Hwy 69 Ltd.
        17521 Hwy 69 S
        Tyler, TX 75703

Bankruptcy Case No.: 10-60594

Chapter 11 Petition Date: May 31, 2010

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

Debtor's Counsel: Joe K. Thigpen, Esq.
                  Thigpen & Raney
                  110 North College
                  Suite 1401
                  Tyler, TX 75702
                  Tel: (903) 595-0998
                  E-mail: joethigpen@yahoo.com

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

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

According to the schedules, the Company says that assets total $
1,014,201 while debts total $ 687,495.

A copy of the Debtor's list of 3 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txeb10-60594.pdf

The petition was signed by Gerald E. Fackrell Jr., manager.


INNATECH LLC: To Shut Down Lebanon Operations on July 3
-------------------------------------------------------
Charlie Van Sant at News Talk Radio reports that Innatech LLC will
close its operations in Lebanon Ohio, on July 3, 2010, leaving 57
workers jobless.

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

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


INNOTRAC CORP: Stock Trading Restrictions Extended Until Sept. 1
----------------------------------------------------------------
Innotrac Corporation (Nasdaq: INOC) updated its previous
disclosure regarding the restriction placed on the trading of
Company stock in the IPOF Fund, L.P. administered by the receiver
appointed by the U.S. District Court in Cleveland, Ohio.  The
Court has extended the period during which financial institutions
holding Company stock owned by the IPOF Fund, Mr. Dadante or
Dadante-related entities are restricted from trading any of these
shares as defined in the Court's prior orders until September 1,
2010.

Innotrac Corporation (Nasdaq: INOC) -- http://www.innotrac.com/--
founded in 1984 and based in Atlanta, Georgia, is a full-service
fulfillment and logistics provider serving enterprise clients and
world-class brands.  The Company employs order processing and
warehouse management technology and operates seven fulfillment
centers and one call center in six cities spanning all time zones
across the continental United States.

                       *     *     *

As reported in the Troubled Company Reporter on January 8, 2010,
Innotrac Corporation on January 4, 2010, received a letter from
The NASDAQ Stock Market providing notice that it had not
maintained the continued listing standard for the minimum market
value of publicly held shares of $5 million.  MVPHS is the market
value of the Company's publicly held shares, which is calculated
by subtracting all shares held by officers, directors or
beneficial owners of 10% or more of the total shares outstanding.
Approximately 2.4 million, or 19% of Innotrac's total 12.6 million
outstanding shares are included in the MVPHS calculation for the
Company.


INTELLIGENT COMMUNICATION: Posts $2.9 Million Net Loss for Q1 2010
------------------------------------------------------------------
Intelligent Communication Enterprise Corporation filed its
quarterly report on Form 10-Q, reporting a net loss of $2,852,182
on $2,502,173 of revenue for the three months ended March 31,
2010, compared with a net loss of $768,576 on $2,004,527 of
revenue for the three months ended March 31, 2009.

The Company's balance sheet as of March 31, 2010, showed
$14,596,946 in assets, $7,515,822 of liabilities, and $7,081,124
of stockholders' equity.

The Company has incurred losses and has negative working capital
as of March 31, 2010.

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

               http://researcharchives.com/t/s?6421

Headquartered in Singapore, Intelligent Communication Enterprise
Corporation (OTC BB: ICMC) -- http://www.icecorpasia.com/--
offers a range of innovative mobile marketing solutions and
communications technologies.

Peterson Sullivan LLP, in Seattle, Washington, expressed
substantial doubt about the Company's ability to continue as a
going concern after auditing the Company's financial statements
for the year ended December 31, 2009.  The independent auditors
noted that the Company has not generated revenues or positive cash
flows from operations and has an accumulated deficit at December
31, 2009.


INTERNATIONAL COAL: Resumes Construction at Tygart No.1 Complex
---------------------------------------------------------------
International Coal Group Inc. has resumed construction at its ICG
Tygart Valley subsidiary's Tygart No. 1 deep mine complex in
Taylor County, near Grafton, West Virginia.

The Tygart No. 1 project received all essential federal and state
approvals, but challenges lodged by a local anti-mining
organization caused work on the project to be suspended in late
2008.  Those challenges were overruled in March by the West
Virginia Surface Mine Board.

"We had planned to resume construction in mid-2011, but the strong
market demand for Tygart No.1's metallurgical coal product, and
growing evidence of improving thermal coal pricing, led us to
accelerate the project," said Ben Hatfield, ICG's CEO and
President.  "The construction and development timeline anticipates
initial coal production in late 2011 and longwall startup in early
2014."

The Company expects to finance the Tygart No. 1 mine construction
through operating cash flow.  Development capital requirements are
estimated at $325 million, including $18 million spent prior to
2010.  As a result of resuming construction at Tygart No.1, the
Company now expects 2010 capital expenditures to increase by
$15.0 million to a range of $105.0 million to $115.0 million.

At full output, the Tygart No. 1 mine is expected to produce
3.5 million tons per year of premium high-volatile metallurgical
and high-quality thermal coal.  The mine complex is projected to
create over 300 direct jobs in the Taylor County, West Virginia
area.

                  About International Coal Group

Scott Depot, West Virginia-based International Coal Group, Inc.
(NYSE: ICO) produces coal in Northern and Central Appalachia and
the Illinois Basin.  The Company has 13 active mining complexes,
of which 12 are located in Northern and Central Appalachia, and
one in Central Illinois.  ICG's mining operations and reserves are
strategically located to serve utility, metallurgical and
industrial customers throughout the eastern United States.

                           *     *     *

In March 2010, Standard & Poor's Ratings Services raised its
corporate credit rating on International Coal Group LLC to 'B+'
from 'B-'.   Moody's Investors Service affirmed the
ratings of International Coal Group, including the corporate
family rating of Caa1.


JACOBS FINANCIAL: Amends Fiscal Q3 Financials; Net Loss Unchanged
-----------------------------------------------------------------
Jacobs Financial Group, Inc., filed on May 27, 2010, an amended
quarterly report on Form 10-Q/A for the three months ended
February 28, 2010, to correct an error in the reporting of accrued
but unpaid (and undeclared) dividends on the Series B shares that
were exchanged for Series C shares.  These dividends amounting to
$2,471,344 were originally recorded as a liability and are
restated to correctly classify them to the equity section of the
balance sheet.  This correction had no effect on the net income or
cash flows of the Company.

As restated, the Company's balance sheet as of February 28, 2010,
showed $7,389,484 in assets, $10,810,453 of liabilities, and
$2,970,772 of Series A preferred stock, for a stockholders'
deficit of $6,391,741.

The Company reported a net loss attributable to common
stockholders of $355,613 on $345,638 of revenue for the three
months ended February 28, 2010, compared with a net loss
attributable to common stockholders of $618,951 on $314,839 of
revenue for the three months ended February 28, 2009.

"The Company incurred operating losses (after accretion of
mandatorily redeemable convertible preferred stock, including
accrued dividends) of approximately $3,058,000 and $3,333,000 for
the years ended May 31, 2009, and 2008, and has incurred losses of
approximately $356,000 and $2,012,000 for the three and nine month
periods ended February 28, 2010.  Losses are expected to continue
until the Company's insurance company subsidiary, First Surety
Corporation develops a more substantial book of business.  While
continued improvement is anticipated as the business plan is more
fully implemented, restrictions on the use of FSC's assets, the
Company's significant deficiency in working capital and
stockholders' equity raise substantial doubt about the Company's
ability to continue as a going concern."

A full-text copy of the amended quarterly report is available for
free at http://researcharchives.com/t/s?6450

Jacobs Financial Group, Inc. (OTC Bulletin Board: JFGI) is a
Charleston, West Virginia-based holding company for First Surety
Corporation, a West Virginia domiciled surety, Triangle Surety
Agency, an insurance agency that specializes in coal reclamation
surety bonds, and Jacobs & Company, a registered investment
advisor.

As reported in the Troubled Company Reporter on September 24,
2009, Malin, Bergquist & Company, LLP, in Pittsburgh, Pa.,
expressed substantial doubt about Jacobs Financial Group's ability
to continue as a going concern after auditing the Company's
financial statements for the fiscal years ended May 31, 2009, and
2008.  The independent auditors noted that the Company incurred
losses for the years ended May 31, 2009, and 2008, and has a
significant net deficiency in working capital.


JAMES WANNEMACHER: Case Summary & 12 Largest Unsecured Creditors
----------------------------------------------------------------
Joint Debtors: James J. Wannemacher
                 dba Wannemacher Rentals
               Victoria Ann Wannemacher
                 aka Vicki Wannemacher
               2177 Union Road
               Middletown, OH 45044

Bankruptcy Case No.: 10-33613

Chapter 11 Petition Date: June 3, 2010

Court: U.S. Bankruptcy Court
       Southern District of Ohio (Dayton)

Judge: Guy R. Humphrey

Debtor's Counsel: John Paul Rieser, Esq.
                  7925 Graceland Street
                  Dayton, OH 45459
                  Tel: (937) 224-4128
                  E-mail: attyecfdesk@rieserlaw.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 12 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/ohsb10-33613.pdf

The petition was signed by the Joint Debtors.


JER INVESTORS TRUST: Continues to Have Payment Defaults
-------------------------------------------------------
JER Investors Trust Inc. continues to have outstanding payment
defaults related to:

  * Unfunded capital calls of $3.3 million related to its
    investment in the JER US Debt Co-Investment Vehicle, L.P.  As
    a result of these defaults, effective January 1, 2010, the
    Company no longer receives a management fee from the US Debt
    Fund.

  * Payment default on its interest rate swap obligations to
    National Australia Bank Limited, which based on its terms is
    classified as a note payable on the Company's balance sheet.
    As of April 19, 2010, NAB terminated the NAB Note Payable, and
    established a termination value of $29.0 million.

  * Payment default on its junior subordinated notes with an
    outstanding face amount of $70.3 million, exclusive of unpaid
    interest and penalties.

Currently, the Company's primary source of liquidity is from its
non-CDO CMBS investments.  The company is no longer receiving
distributions from its retained interests in CDO I and CDO II, and
it does not expect to receive distributions from such CDOs for the
foreseeable future, if at all.  In addition, the company's US Debt
Fund investment is not expected to generate any liquidity to the
Company in the foreseeable future, and the Company anticipates
that any future distributions from the US Debt Fund will be
retained by the US Debt Fund to reduce the Company's unfunded
capital call obligations to the US Debt Fund.  As a result, the
Company is focused on seeking to preserve liquidity by minimizing
its non-CDO cash operating costs, to the extent possible,
primarily by (i) ceasing management fee payments to its external
manager effective December 2009, after significantly reducing such
cash payments from April 2009 to November 2009, (ii) filing a Form
15 with the Securities and Exchange Commission (the "SEC") on
March 31, 2010, and ceasing to be an SEC reporting company, and
(iii) effective January 1, 2010, discontinuing payments currently
due on its NAB Note Payable and junior subordinated notes.

A full text copy of the Company's updated statement of affairs for
12 months ended December 31, 2009 is available free at:

              http://ResearchArchives.com/t/s?6449

                    About JER Investors Trust

JER Investors Trust Inc. is a specialty finance company quoted on
the Pink Sheets that manages a portfolio of commercial real estate
structured finance products.  Its investments include commercial
mortgage backed securities, mezzanine loans and participations in
mortgage loans, and an interest in the US Debt Fund.  JER
Investors Trust Inc. is organized and conducts its operations so
as to qualify as a real estate investment trust ("REIT") for
federal income tax purposes.  For more information regarding JER
Investors Trust Inc., please visit
http://www.jerinvestorstrust.com/


JOHN BAYLESS: Guaranty Bank Buys Industrial Park for $928,000
-------------------------------------------------------------
Chris Wrinkle at Springfield Business Journal Online reports that
Guaranty Bank has acquired Bayless Industrial Park for $928,000,
the amount former owners John O. and Lisa A. Bayless still owed
the bank on that property.

Springfield, Missoui-based John Owen Bayless, Jr., and Lisa Anne
Bayless dba Bayless Tire & Wheel, Bayless Auto Salvage, Inc.,
Bayless & Watt Land Development, LLC, Bayless Motor Co., Inc., and
Design Build-Lease, LLC filed for Chapter 11 protection on
April 2, 2009 (Bankr. W. D. Mo. Case No. 09-60657).  The Debtor
listed total assets of $11,214,955 and total debts of $7,654,399.


JOINER ENTERPRISES: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Joiner Enterprises Transportation, Inc.
        dba Joiner Enterprises, Inc.
        7223 S Coles
        Chicago, IL 60649

Bankruptcy Case No.: 10-25349

Chapter 11 Petition Date: June 3, 2010

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

Judge: Eugene R. Wedoff

Debtor's Counsel: Ernesto D. Borges, Esq.
                  Law Offices of Ernesto Borges
                  105 W Madison Street
                  23rd Floor
                  Chicago, IL 60602
                  Tel: (312) 853-0200
                  E-mail: aferreria@billbusters.com

Scheduled Assets: $271,563

Scheduled Debts: $1,088,950

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ilnb10-25349.pdf

The petition was signed by Tracy Kimbrough, vice president CFO.


JOSEPH BORGES: Voluntary Chapter 11 Case Summary
------------------------------------------------
Joint Debtors: Joseph B. Borges
               dba J&M Dairy
               Maria R. Borges
               dba J&M Dairy
               Rt. 456, N. 13th Street
               Artesia, NM 88210

Bankruptcy Case No.: 10-12800

Chapter 11 Petition Date: June 1, 2010

Court: United States Bankruptcy Court
       New Mexico (Albuquerque)

Debtor's Counsel: Wiley F. James, III, Esq.
                  James & Haugland, PC
                  P.O. Box 1770
                  El Paso, TX 79949
                  Tel: (915) 532-3911
                  Fax: (915) 541-6440
                  E-mail: wjames@jghpc.com

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

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

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

The petition was signed by Joseph B. Borges and Maria R. Borges.


KAMEL PLAZA: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Kamel Plaza Investments, Ltd
        2807 Santa Erica
        Mission, TX 78572

Bankruptcy Case No.: 10-70413

Chapter 11 Petition Date: May 31, 2010

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

Judge: Richard S. Schmidt

Debtor's Counsel: Antonio Villeda, Esq.
                  Attorney at Law
                  5414 N 10th Street
                  McAllen, TX 78504
                  Tel: (956) 631-9100
                  E-mail: avilleda@mybusinesslawyer.net

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

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

A copy of the Company's list of 3 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txsb10-70413.pdf

The petition was signed by Miguel Kamel, president of Kamel Plaza
Management, LLC, GP of Debtor.


KENNETH STARR: Monitor Appointed as Interim Receiver
----------------------------------------------------
Chad Bray at Dow Jones Newswires reports that U.S. District Judge
Sidney Stein on Monday appointed Aurora Cassirer, Esq., at
Troutman Sanders, as temporary receiver for the firms owned by
Kenneth I. Starr, a New York financial adviser to high-net-worth
and celebrity clients accused of running a $30 million investment
fraud.

As reported by the Troubled Company Reporter on June 2, 2010,
Judge Stein first appointed Ms. Cassirer as interim monitor to
oversee three Starr entities -- Starr Investment Advisors, Starr &
Co., and Colcave LLC

"I think it's important for customers and clients of Starr
Investment Advisors and Starr & Co. that there be a law-abiding
person who's controlling those entities," the judge said,
according to Mr. Bray.

On May 27, 2010, Mr. Starr was accused by the Securities and
Exchange Commission of a $30 million investment fraud.  Dow Jones
says the appointment of an interim monitor came after a lawyer for
the SEC said there weren't enough employees at the firms to handle
a flood of investors' withdrawal requests triggered by Mr. Starr's
arrest on criminal charges last month.


KEVIN SMITH: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Kevin G. Smith
        235 Pintale Circle
        Henderson, NV 89074-4222

Bankruptcy Case No.: 10-20270

Chapter 11 Petition Date: June 2, 2010

Court: U.S. Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Bruce A. Markell

Debtor's Counsel: David A. Riggi, Esq.
                  5550 Painted Mirage Road #120
                  Las Vegas, NV 89149
                  Tel: (702) 808-0359
                  E-mail: darnvbk@gmail.com

Estimated Assets: $0 to $50,000

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/nvb10-20270.pdf

The petition was signed by the Debtor.


KIEBLER RECREATION: Files List of 20 Largest Unsecured Creditors
----------------------------------------------------------------
Kiebler Recreation, LLC, has filed with the U.S. Bankruptcy Court
for the Northern District of Ohio a list of its 20 largest
unsecured creditors:

   Entity                                       Claim Amount
   ------                                       ------------
Charles Kleman
12601 Mastique Beach Boulevard
Unit 1
Fort Myers, FL 33908                              $1,000,000

PNC Bank                                            $206,844

Charles Family Limited Partnership                  $100,000

JGM Associates LP                                   $100,000

JGM Associates LP                                   $100,000

Margaret Clark                                      $100,000

Robert O'Leary Trust                                $100,000

Robert O'Leary Trust                                $100,000

William Clark                                       $100,000

BPM Investments                                      $60,000

C.A. Curtze Co.                                      $84,407

Chautauqua county IDA                                $67,799

Greenwood Forest                                     $66,991

Kevin & Jennifer Morse                               $80,000

Kings' Heating & Sheet Metal                         $52,891

National Grid                                        $62,543

R. W. Larson Associates, P.C.                        $83,763

Southern Tier West IDA                               $71,507

Thomas & Rose Corrigan                               $85,000

Western Region IDA                                   $53,241

Findley Lake, New York-based Kiebler Recreation, LLC, dba Peek'n
Peak Resort, filed for Chapter 11 bankruptcy protection on May 26,
2010 (Bankr. N.D. Ohio Case No. 10-15099).  Robert C. Folland,
Esq., at Thompson Hine LLP, assists the Company in its
restructuring effort.  The Company estimated its assets and debts
at $10,000,001 to $50,000,000.

The Company's affiliate, Kiebler Slippery Rock, LLC, filed a
separate Chapter 11 petition on September 25, 2009 (Case No. 09-
19087).


KIEBLER RECREATION: Gets Interim Nod to Use Cash Collateral
-----------------------------------------------------------
Kiebler Recreation, LLC, sought and obtained interim authorization
from the Hon. Randolph Baxter of the U.S. Bankruptcy Court for the
Northern District of Ohio to use cash that comprises as collateral
to its prepetition lenders.

The Court allowed the Debtor to use the cash collateral through
June 16, 2010, provided that use of the cash collateral will be
limited to the amount of $300,000 or a higher amount as may be
agreed to by Huntington through a date as a budget agreed to by
the Debtor and Huntington is filed with the Court.

These parties may assert an interest in the Debtor's assets: (i)
the Huntington National Bank; and (ii) PNC Bank, members of the
Cross family, parties to capital leases and certain taxing
authorities.  Of the Secured Creditors, only Huntington may assert
an interest in the Debtor's cash.  The Debtor owes Huntington
$15.6 million.

Robert C. Folland, Esq., at Thompson Hine LLP, the attorney for
the Debtor, explains that the Debtor needs the money to fund its
Chapter 11 case, pay suppliers and other parties.

In exchange for using the cash collateral, the Debtor proposes to
grant Huntington replacement liens and superpriority
administrative expense claims.

The Court has set a final hearing for June 16, 2010, at 10:30 a.m.
on the Debtor's request to use cash collateral.

                     About Kiebler Recreation

Findley Lake, New York-based Kiebler Recreation, LLC, dba Peek'n
Peak Resort, filed for Chapter 11 bankruptcy protection on May 26,
2010 (Bankr. N.D. Ohio Case No. 10-15099).  Robert C. Folland,
Esq., at Thompson Hine LLP, assists the Company in its
restructuring effort.  The Company estimated its assets and debts
at $10,000,001 to $50,000,000.

The Company's affiliate, Kiebler Slippery Rock, LLC, filed a
separate Chapter 11 petition on September 25, 2009 (Case No. 09-
19087).


KIEBLER RECREATION: Wants July 28 Deadline for Filing of Schedules
------------------------------------------------------------------
Kiebler Recreation, LLC, has asked the U.S. Bankruptcy Court for
the Northern District of Ohio to extend the deadline for the
filing of schedule of assets and liabilities, schedule of
executory contracts and unexpired leases, schedule of current
income and expenses, and statement of financial affairs until
July 28, 2010.

The Debtor says that given the number of creditors, the staffing
available to perform the required internal review of its accounts
and affairs, and the press of business incident to operating its
business, as well as to the filing and daily administration of the
Debtor's Chapter 11 case, the Debtor currently is unable to
compile all of the information necessary to complete and file the
Schedules and Statement by the current June 10, 2010 deadline.

                     About Kiebler Recreation

Findley Lake, New York-based Kiebler Recreation, LLC, dba Peek'n
Peak Resort, filed for Chapter 11 bankruptcy protection on May 26,
2010 (Bankr. N.D. Ohio Case No. 10-15099).  Robert C. Folland,
Esq., at Thompson Hine LLP, assists the Company in its
restructuring effort.  The Company estimated its assets and debts
at $10,000,001 to $50,000,000.

The Company's affiliate, Kiebler Slippery Rock, LLC, filed a
separate Chapter 11 petition on September 25, 2009 (Case No. 09-
19087).


KLAAS TALSMA: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Klaas Talsma
          dba Klaas Talsma Dairy
              Frisia Farms
        7469 CR 209
        Hico, TX 76457

Bankruptcy Case No.: 10-43790

Chapter 11 Petition Date: June 1, 2010

Court: U.S. Bankruptcy Court
       Northern District of Texas (Ft. Worth)

Judge: D. Michael Lynn

Debtor's Counsel: St. Clair Newbern III, Esq.
                  Law Offices of St. Clair Newbern III, P.C
                  1701 River Run, Suite 1000
                  Fort Worth, TX 76107
                  Tel: (817) 870-2647
                  E-mail: filing@newbernlawoffice.com

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

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

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

The petition was signed by the Debtor.


LANDAMERICA FIN'L: Barbosa Sues LES to Take Trust Funds
-------------------------------------------------------
Teresa Barbosa filed with the U.S. Bankruptcy Court for the
Eastern District of Virginia a complaint against LandAmerica 1031
Exchange Services, Inc., on February 24, 2010, seeking
declaratory judgment and certain other relief with respect to a
Section 1031 exchange.

Ms. Barbosa entered into an Exchange Agreement with LES in order
to effectuate a Section 1031 tax deferred exchange.  In
accordance with the Exchange Agreement, Mr. Barbosa was to assign
a purchase agreement dated November 13, 2008, between herself and
Rose Marquez for the sale of property located at 1641 N. Holly
Drive, in Tracy, California, to LES, who in turn would transfer
the relinquished property to the buyer.

Under the Exchange Agreement, Ms. Barbosa and LES agreed that LES
"is entering into this exchange agreement solely for the purpose
of facilitating [Ms. Barbosa's] exchange of the relinquished
property for the replacement property."

However, the sale never took place because of LES' shutting down
its operations.

Following cancellation of the sale, LES received a deposit of
$366,893, representing the proceeds of sale from Ms. Barbosa's
real property intended to be exchanged for the replacement real
property.

The 45-day deadline for Ms. Barbosa to identify a like-kind
replacement property under Section 1031 was December 29, 2008,
and the 180-day deadline for her to close on the purchase of the
replacement properties was May 29, 2009.

Ms. Barbossa asserts that LES never possessed equitable or
beneficial ownership of the Relinquished Property or the Trust
Funds but rather held, and continues to hold, nominal title as
trustee for the sole purpose of effectuating a Section 1031
exchange for her.

Accordingly, Ms. Barbossa asks the Court to enter a declaratory
judgment against LES:

  (a) ruling that the Trust Funds are her property and not the
      property of LES or its estate;

  (b) for willful breach of contract in an amount to be proven
      at trial, plus interest, costs and fees; and

  (c) for conversion in an amount to be proven at trial, plus
      interest, costs and fees.

                    About LandAmerica Financial

LandAmerica Financial Group, Inc., provides real estate
transaction services with offices nationwide and a vast network of
active agents.  LandAmerica and its affiliates operate through
approximately 700 offices and a network of more than 10,000 active
agents throughout the world, including Mexico, Canada, the
Caribbean, Latin America, Europe, and Asia.

LandAmerica Financial Group and its affiliate LandAmerica 1031
Exchange Services, Inc. filed for Chapter 11 protection Nov. 26,
2008 (Bankr. E.D. Va. Lead Case No. 08-35994).  Attorneys at
Willkie Farr & Gallagher LLP and McGuireWoods LLP serve as co-
counsel.  Zolfo Cooper is the restructuring advisor.  Epiq
Bankruptcy Solutions serves as claims and notice agent.

Attorneys at Akin Gump Strauss Hauer & Feld LLP and Tavenner &
Beran, PLC, serve as counsel to the Creditors Committee of 1031
Exchange.  Bingham McCutchen LLP and LeClair Ryan serve as counsel
to the Creditors Committee of LFG.

In its bankruptcy petition, LFG listed total assets of
$3,325,100,000, and total debts of $2,839,800,000 as of Sept. 30,
2008.

On March 6, 2009, affiliate LandAmerica Assessment Corporation,
aka National Assessment Corporation, filed its own petition for
Chapter 11 relief.  Affiliate LandAmerica Title Company filed for
for Chapter 11 relief on March 27, 2009.   LandAmerica Credit
Services, Inc., filed for Chapter 11 in July 2009.


LANDAMERICA FIN'L: Commingled Exchanger Committee Seeks Payment
---------------------------------------------------------------
The Unofficial Ad Hoc Committee of Commingled Exchangers, through
its counsel, Richard C. Maxwell, Esq., at Woods Rogers PLC, in
Roanoke, Virginia -- rmaxwell@woodsrogers.com -- asks the Court
to:

  (a) schedule a preliminary hearing on "substantial
      contribution;" and

  (b) enter an order for the allowance of its professional fees
      and expenses, not to exceed $125,000, as administrative
      expenses pursuant to Section 503 of the Bankruptcy Code.

The Commingled Exchanger Committee is comprised of Richard
Maxwell for Woods Rogers as well as other who each represent one
or more 1031 exchange participants who are not identified as
those with "segregated exchange agreements" and therefore are
designated as holding Commingled Exchange Agreements.

The Commingled Exchanger Committee aver that it served as the
central point of information to the commingled exchangers by
direct contact and by commingled exchangers posting information
obtained from the Commingled Exchanger Committee on message
boards.  Because of the position taken by the Official Committee
of Unsecured Creditors in the case of LandAmerica 1031 Exchange
Services, Inc., on the issue of whether the deposit funds were
trust funds, most commingled exchangers did not trust the LES
Committee, Mr. Maxwell relates.

As a result of the involvement of the Commingled Exchanger
Committee in the case, it was able to rally support for LES'
Plan, which resulted in a nearly unanimous vote of the commingled
exchangers for LES' Plan, Mr. Maxwell emphasizes.

In this light, the Commingled Exchanger Committee avers that it
rendered a substantial benefit in LES' case.

The Commingled Committee says it would be expensive to have its
members segregate time entries that involved benefit to all
commingled exchangers.  Thus, the Commingled Committee seek that
the Court first determine whether its actions constitute a
substantial contribution in the case before it will undertake the
process of providing a detailed explanation of the fees and
costs.

                       LES Trustee Objects

Gerard A. MacHale, Jr., the liquidation trustee of the LES
Liquidation Trust, argues that:

  -- The Commingled Committee's failure to include time records
     with the Application makes it difficult, if not impossible
     to evaluate the Application or determine if duplicative
     services exist; and

  -- the failure to have the actual creditors as the applicants
     violates the statute and is a fatal defect.

The LES Trustee further believes that even if time records had
been submitted, the Commingled Committee still would not likely
be able to establish sufficient evidence to support its
substantial contribution.

Dennis T. Lewandowski, Esq., at Kaufman & Canoles, in Norfolk,
Virginia, contends that it only appears that the Commingled
Committee's actions (1) were primarily -- if not solely - on
behalf of its clients; (2) were duplicative of the efforts of
others, including the LES Committee; and (3) did not provide an
actual, tangible benefit to the estates that was "casually
connection" to its action.

The LES Trustee also cites that the Commingled Committee is
composed of a group of professionals that purport to represent an
unidentified group of commingled exchangers and therefore, are
not proper parties to apply for a substantial contribution claim
under Section 503(b)(3)(D).

                    About LandAmerica Financial

LandAmerica Financial Group, Inc., provides real estate
transaction services with offices nationwide and a vast network of
active agents.  LandAmerica and its affiliates operate through
approximately 700 offices and a network of more than 10,000 active
agents throughout the world, including Mexico, Canada, the
Caribbean, Latin America, Europe, and Asia.

LandAmerica Financial Group and its affiliate LandAmerica 1031
Exchange Services, Inc., filed for Chapter 11 protection Nov. 26,
2008 (Bankr. E.D. Va. Lead Case No. 08-35994).  Attorneys at
Willkie Farr & Gallagher LLP and McGuireWoods LLP serve as co-
counsel.  Zolfo Cooper is the restructuring advisor.  Epiq
Bankruptcy Solutions serves as claims and notice agent.

Attorneys at Akin Gump Strauss Hauer & Feld LLP and Tavenner &
Beran, PLC, serve as counsel to the Creditors Committee of 1031
Exchange.  Bingham McCutchen LLP and LeClair Ryan serve as counsel
to the Creditors Committee of LFG.

In its bankruptcy petition, LFG listed total assets of
$3,325,100,000, and total debts of $2,839,800,000 as of Sept. 30,
2008.

On March 6, 2009, affiliate LandAmerica Assessment Corporation,
aka National Assessment Corporation, filed its own petition for
Chapter 11 relief.  Affiliate LandAmerica Title Company filed for
for Chapter 11 relief on March 27, 2009.   LandAmerica Credit
Services, Inc., filed for Chapter 11 in July 2009.


LANDAMERICA FIN'L: IRS Tax Claims Reduced, Allowed
--------------------------------------------------
Bruce H. Matson, as trustee for the LandAmerica Financial Group,
Inc. Liquidation Trust, and the Internal Revenue Service
stipulate that:

  (1) the IRS Claim for tax year 2003 is reduced to
      $6,800,000 million, which claim has been paid; and

  (2) the IRS Claim for tax years 2005 and 2006 for $6,313,166
      and the IRS Claim for penalties and interest for $25,030
      remain subject to further adjudication.

The LFG Trustee previously objected to the IRS Claims.

                    About LandAmerica Financial

LandAmerica Financial Group, Inc., provides real estate
transaction services with offices nationwide and a vast network of
active agents.  LandAmerica and its affiliates operate through
approximately 700 offices and a network of more than 10,000 active
agents throughout the world, including Mexico, Canada, the
Caribbean, Latin America, Europe, and Asia.

LandAmerica Financial Group and its affiliate LandAmerica 1031
Exchange Services, Inc. filed for Chapter 11 protection Nov. 26,
2008 (Bankr. E.D. Va. Lead Case No. 08-35994).  Attorneys at
Willkie Farr & Gallagher LLP and McGuireWoods LLP serve as co-
counsel.  Zolfo Cooper is the restructuring advisor.  Epiq
Bankruptcy Solutions serves as claims and notice agent.

Attorneys at Akin Gump Strauss Hauer & Feld LLP and Tavenner &
Beran, PLC, serve as counsel to the Creditors Committee of 1031
Exchange.  Bingham McCutchen LLP and LeClair Ryan serve as counsel
to the Creditors Committee of LFG.

In its bankruptcy petition, LFG listed total assets of
$3,325,100,000, and total debts of $2,839,800,000 as of Sept. 30,
2008.

On March 6, 2009, affiliate LandAmerica Assessment Corporation,
aka National Assessment Corporation, filed its own petition for
Chapter 11 relief.  Affiliate LandAmerica Title Company filed for
for Chapter 11 relief on March 27, 2009.   LandAmerica Credit
Services, Inc., filed for Chapter 11 in July 2009.


LARIAT ASSOCIATES: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Lariat Associates, LLC
          aka Lariat Quick Stop
              Fireside Restaurant
        P.O. Box 310
        Baggs, WY 82321

Bankruptcy Case No.: 10-20649

Chapter 11 Petition Date: June 2, 2010

Court: U.S. Bankruptcy Court
       District of Wyoming (Cheyenne)

Judge: Peter J. McNiff

Debtor's Counsel: Janet L. Tyler, Esq.
                  3704 Reynolds Street
                  Laramie, WY 82072
                  Tel: (307) 742-6951

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

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

According to the schedules, the Company says that assets total
$4,587,147 while debts total $2,978,315.

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/wyb10-20649.pdf

The petition was signed by Roy K. Battson, operating manager.


LEHMAN BROTHERS: To Spend $262 Million on Maturing Mortgages
------------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Lehman Brothers
Holdings Inc. will ask the bankruptcy judge at a hearing on June
16 for authority to spend as much as $262.5 million to pay off
maturing mortgages on commercial real estate in Rosslyn, Virginia.
The project, 98% leased, has 3 million square feet of space.
Lehman is a 78.5% owner.

Meanwhile, according to Bloomberg, Lehman's former Chief Executive
Officer Richard Fuld and the former auditors filed motions to
dismiss class action lawsuits alleging that they improperly used
repurchase transactions to cover up the firm's failing financial
conditions.

                       About Lehman Brothers

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

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

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

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

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

               International Operations Collapse

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

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

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


LEHMAN BROTHERS: Taps Sotheby's to Auction Off Art Collection
-------------------------------------------------------------
Dow Jones' Daily Bankruptcy Review reports that Lehman Brothers
Holdings Inc. is seeking bankruptcy court permission to hire
Sotheby's Inc. to auction off more than 400 pieces of art,
including pieces by Damien Hirst and Andy Warhol.

                       About Lehman Brothers

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

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

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

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

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

               International Operations Collapse

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

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

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


LIBBEY INC: Delays IPO of $150,000,000 of Securities
----------------------------------------------------
Libbey Inc. is delaying the effective date of a registration
statement pursuant to which it intends to offer $150,000,000 of
securities.  Libbey may offer and sell these securities:

    -- debt securities;
    -- common stock;
    -- preferred stock;
    -- warrants to purchase debt securities, common stock,
       preferred stock or depositary shares;
    -- rights to purchase common stock or preferred stock;
    -- securities purchase contracts;
    -- securities purchase units; and
    -- depositary shares.

A full-text copy of the Company's Form S-3 Registration Statement
under the Securities Act of 1933 is available at no charge
at http://ResearchArchives.com/t/s?6436

The Annual Meeting of the Shareholders of the Company was held on
May 6, 2010.  At the meeting, Carlos V. Duno, Peter C. McC.
Howell, John C. Orr and Richard I. Reynolds were reelected as
directors of the Company.  Each will serve for a term of 3 years
or until his successor is elected.  The terms of office of William
A. Foley, Deborah G. Miller, Terence P. Stewart, Jean-Rene
Gougelet, John F. Meier and Carol B. Moerdyk continued after the
meeting.

In addition, the Amended and Restated Libbey Inc. 2006 Omnibus
Incentive Plan was approved.  The appointment of Ernst & Young LLP
as our independent auditors for the fiscal year ending
December 31, 2010, was ratified.

                        About Libbey Inc.

Based in Toledo, Ohio, since 1888, Libbey, Inc., operates glass
tableware manufacturing plants in the United States in Louisiana
and Ohio, as well as in Mexico, China, Portugal and the
Netherlands.  Libbey supplies tabletop products to foodservice,
retail, industrial and business-to-business customers in over 100
countries.

The Company's balance sheet showed $776.9 million in total assets
and $795.2 million in total liabilities, for a $18.2 million
stockholders' deficit as of March 31, 2010.

                           *    *    *

According to the Troubled Company Reporter on Feb. 1, 2010,
Standard & Poor's Ratings Services said that it affirmed its "B"
corporate credit rating on Libbey Inc.  The outlook is stable.

In November, the TCR reported that Standard & Poor's lowered its
corporate credit rating on Libbey Inc. to 'SD' (selective default)
from 'B'.  The issue-level ratings remained on CreditWatch, where
S&P had placed them on June 11, 2009, following S&P's concerns
about the difficult operating environment facing Libbey, increased
leverage, and its ability to improve credit metrics.

In January 2010, Libbey's wholly owned subsidiary Libbey Glass
Inc. commenced a cash tender offer to purchase its outstanding
$306.0 million aggregate principal amount of Floating Rate Senior
Secured Notes due 2011.  The Tender Offer is scheduled to expire
February 22, 2010.  Holders who validly tender (and do not validly
withdraw) Notes and deliver their Consents at or prior to the
Consent Date will receive total consideration of $1,027.50 per
$1,000 principal amount of Notes, which includes $30 cash premium
per $1,000 if tendered early.


LIBERTY STAR: Gets Notification from Collateral Agent of Default
----------------------------------------------------------------
Liberty Star Uranium & Metals Corp. disclosed that on June 1,
2010, it was notified by the Collateral Agent for its secured
lenders that the notes issued on May 11, 2007, and August 28,
2008, May 21, 2009, and August 14, 2009, are past due and in
default.  Additionally, pursuant to section 4.6 of the Notes, such
default is a cross default of all the Notes issued to all the
Secured Lenders.

The Secured Lenders gave notice that the Notes are now due and
owing in full and demand that Liberty immediately make full
payment of all principal, interest, liquidated damages and all
other sums due under the Notes.

Liberty Star is engaged in discussions with certain capital
partners to provide new capital sufficient to meet the demand of
Secured Lenders.  These new capital sources, if closed, would
allow Liberty Star to restructure its balance sheet while
continuing normal business operations.


MAE CORPORATION: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Mae Corporation
        300 Mall Drive
        Appleton, WI 54913
        Tel: (920) 993-1200

Bankruptcy Case No.: 10-29215

Chapter 11 Petition Date: June 1, 2010

Court: U.S. Bankruptcy Court
       Eastern District of Wisconsin (Milwaukee)

Judge: Susan V. Kelley

Debtor's Counsel: Justin M. Mertz, Esq.
                  Kerkman & Dunn
                  757 N. Broadway, Suite 300
                  Milwaukee, WI 53202
                  Tel: (414) 277-8200
                  E-mail: jmertz@kerkmandunn.com

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

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

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

The petition was signed by Sidney Sawicky, president.


MAGIC BRANDS: Gets OK to Reject Sale Deal with R.J. Management
--------------------------------------------------------------
Magic Brands, LLC, parent of Fuddruckers and Koo Koo Roo
restaurant brands, has received bankruptcy court approval to
reject the 2007 agreements related to the interim management and
contemplated sale of its Minnesota restaurants to R.J. Management
LLC.

"We are pleased with the court's ruling and its recognition of the
fact that the Minnesota restaurants are and always have been
corporate-owned locations, not franchises," said CEO Peter Large.
"This was a unique situation that does not affect our franchised
restaurants. Magic Brands continues to be committed to and
supportive of its relationship with franchisees."

The ruling relates to a transaction initiated in 2007 that
ultimately never closed. In January 2007, Magic Brands and R.J.
Management entered into a letter of intent for the sale of six
restaurants in Minnesota to be consummated in two phases.
However, as the bankruptcy court found, the transaction never
closed and R.J. Management was not a franchisee in Minnesota or an
owner of the assets.  Instead, the court recognized that R.J.
Management was operating the restaurants under a management
agreement.

The ruling should facilitate Magic Brands' efforts to maximize
value for all creditors by including two of the Minnesota
locations in the sale of its assets.

For further information regarding the sale transaction and
restructuring process, please contact the Company's information
line at 877-340-2764 or visit www.fuddruckersrestructures.com.

                      About Magic Brands

Magic Brands, LLC is the parent of the Fuddruckers and Koo Koo
Roo restaurant brands.  Fuddruckers -- http://www.fuddruckers.com/
-- was founded in 1980 in San Antonio, Texas, with the goal of
serving hamburgers that are cooked to order and made with fresh
ingredients.  Magic Brands, based in Austin, Texas, purchased the
chain in 1998 and has sought to broaden its appeal by expanding
its menu.

Magic Brands, LLC, and its operating units filed for Chapter 11 on
April 21, 2010 (Bankr. D. Del. Lead Case No. 10-11310).  It
disclosed assets of up to $10,000,000 and debts of $10,000,001 to
$50,000,000.  Affiliate Fuddruckers, Inc., also filed, listing
assets and debts of $50,000,000 to $100,000,000.

FocalPoint Securities, LLC, serves as investment banker to Magic
Brands and Goulston & Storrs serves as lead bankruptcy counsel.
Kurtzman Carson Consultants, LLC, serves as claims and notice
agent.


MAGIC BRANDS: Fuddruckers Franchisees Want Special Committee
------------------------------------------------------------
Bill Rochelle at Bloomberg News reports that representatives of a
group composed of franchisees with 91 Fuddruckers' stores are
asking the Bankruptcy Court to order the appointment of a special
committee to represent franchisees operating Fuddruckers stores.
They say the U.S. Trustee didn't act favorably on their request to
form a special committee.  The franchisees argue that they can't
be adequately represented by the official unsecured creditors'
committee they describe as being composed primarily of trade
suppliers and landlords.  They also say there is direct conflict
with the creditors' committee over $5 million.

According to Bloomberg, the franchisees, in the court filing,
explain how Magic Brands received $5 million in rebates from a
soft-drink supplier that should have been paid to them.  They say
the failure was a violation of Federal Trade Commission
regulations.  The franchisees promise to file papers aiming at
imposing a constructive trust on $5 million to make up for their
losses.

                        About Magic Brands

Magic Brands, LLC is the parent of the Fuddruckers and Koo Koo
Roo restaurant brands.  Fuddruckers -- http://www.fuddruckers.com/
-- was founded in 1980 in San Antonio, Texas, with the goal of
serving hamburgers that are cooked to order and made with fresh
ingredients.  Magic Brands, based in Austin, Texas, purchased the
chain in 1998 and has sought to broaden its appeal by expanding
its menu.

Magic Brands, LLC, and its operating units filed for Chapter 11 on
April 21, 2010 (Bankr. D. Del. Lead Case No. 10-11310).  It
disclosed assets of up to $10,000,000 and debts of $10,000,001 to
$50,000,000.  Affiliate Fuddruckers, Inc., also filed, listing
assets and debts of $50,000,000 to $100,000,000.

FocalPoint Securities, LLC, serves as investment banker to Magic
Brands and Goulston & Storrs serves as lead bankruptcy counsel.
Kurtzman Carson Consultants, LLC, serves as claims and notice
agent.


MAGNA ENTERTAINMENT: To Cease to Be Reporting Issuer
----------------------------------------------------
In its 26th bi-weekly default status report under National Policy
12-203 of the Canadian Securities Administrators, Magna
Entertainment Corp. said that on April 30, 2010, the plan of
reorganization jointly proposed by MEC and certain of its
subsidiaries, MI Developments Inc., and the Official Committee of
Unsecured Creditors of MEC was confirmed by the Bankruptcy Court
and became effective as of 5:01 p.m. (Eastern Daylight Time) on
April 30, 2010.

Accordingly, MEC intends to apply to the Canadian securities
regulators to cease to be a reporting issuer under applicable
Canadian securities laws.  MEC also intends to take steps to
deregister its common stock and suspend its reporting obligations
under applicable U.S. securities laws.

                 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.


MARMC TRANSPORTATION: Voluntary Chapter 11 Case Summary
-------------------------------------------------------
Debtor: MarMc Transportation, Inc.
        P.O. Box 656
        Mills, WY 82644

Bankruptcy Case No.: 10-20653

Chapter 11 Petition Date: June 3, 2010

Court: U.S. Bankruptcy Court
       District of Wyoming (Cheyenne)

Judge: Peter J. McNiff

Debtor's Counsel: Stephen R. Winship, Esq.
                  Winship & Winship, PC
                  P.O. Box 548
                  Casper, WY 82602
                  Tel: (307) 234-8991
                  Fax: (307) 234-1116
                  E-mail: steve@winshipandwinship.com

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

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 Cindy Richardson, vice president.


MARTHA FERNANDEZ: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Martha Cenia Fernandez
        4680 Ironwood Ave.
        Seal Beach, CA 90740

Bankruptcy Case No.: 10-17450

Chapter 11 Petition Date: June 2, 2010

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

Debtor's Counsel: Bruce Boice, Esq.
                  Law Office of Boice & Associates
                  716 E Lincoln Ave
                  Orange, CA 92865
                  Tel: (949) 690-8647
                  Fax: (949) 612-0859
                  E-mail: bboice@lawyer.com

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

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

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

The petition was signed by Martha Cenia Fernandez.


MASHANTUCKET PEQUOT: Foxwoods Resort President Steps Down
---------------------------------------------------------
The Wall Street Journal's Mike Spector reports that Michael
Speller, the president of the Mashantucket Pequot Gaming
Enterprises, and head of Foxwoods Resort Casino resigned
"effective immediately," just 18 months into the job, creating
further uncertainty around the U.S.'s largest gambling property as
it negotiates with lenders to restructure debt.

The Journal recalls Mr. Speller had taken the top job at Foxwoods
in December 2008, just after a major expansion that added a new
casino to the tribe's gaming empire, the MGM Grand at Foxwoods.
That expansion boosted the tribe's liabilities.  The Journal
relates that, as revenues declined amid the recession, Mr. Speller
and the Pequots were forced to confront restructuring the tribe's
$2 billion-plus debt load, amassed over the years to fund the 6.7
million square-foot gambling resort.

The Journal relates that since the fall, the tribe has received
extensions from lenders on debt obligations it can't meet.
Meanwhile, the tribe has been negotiating with banks and
bondholders about reducing its debts ahead of a repayment deadline
in July, according to people familiar with the matter, according
to the Journal.

The Journal notes the circumstances surrounding Mr. Speller's
departure remained unclear. The tribal council said he left to
pursue "other career opportunities." A Foxwoods spokeswoman
declined to elaborate and Mr. Speller couldn't be reached for
comment.

According to the Journal, the tribal council said William
Sherlock, a 30-year hospitality and gaming veteran who once served
as president and chief executive of Foxwoods, would take over as
interim president.

The Journal notes the tribe is a sovereign nation that can't be
put into bankruptcy, according to analysts, and the creditors
can't foreclose on assets because only the tribe can operate the
casino under federal law.  That's left creditors negotiating to
amend their debt agreements and get the tribe back on its feet in
the hopes of realizing a recovery from the casino's future cash
flows.  The tribe hired investment bank Miller Buckfire & Co. and
law firm Weil, Gotshal & Manges to negotiate with lenders.

                  About the Mashantucket Pequot

The Mashantucket Pequots are an Eastern Woodland people with its
traditional homelands in Southeastern Connecticut having endured
centuries of conflict, survival and continuity on and around one
of America's oldest Indian reservations, established in
1666.

The Mashantucket Pequot Tribal Nation owns one of the largest
resort casino in the world, Foxwoods Resort Casino --
http://www.foxwoods.com/,along with several other economic
ventures including the Lake of Isles Golf Course --
http://www.lakeofisles.com/-- a joint-venture partnership
establishing the MGM Grand at Foxwoods, The Spa at Norwich Inn and
Foxwoods Development Company dedicated to world-class resort
development throughout the United States and Caribbean.
The Tribe employs approximately 10,000 people and, through its
slot contribution agreement, it has contributed nearly $3 billion
to the State of Connecticut since January 1993.

                           *     *     *

In March 2010, Standard & Poor's Ratings Services lowered its
issue level ratings on the Mashantucket Western Pequot Tribe's
$250 million special revenue bonds series 2005A and $70.365
million subordinated special revenue bonds series 2007A to 'D'.
In addition, S&P lowered the Standard & Poor's Underlying Rating
on the Tribe's $300 million special revenue bonds series 1997A to
'D'.

The rating action stems from S&P's belief that the Tribe did not
make the full interest payments due March 1, 2010, on its special
revenue and subordinated special revenue bonds.


MCGRATH'S PUBLICK: Patrick Swope Leaves Creditors Committee
-----------------------------------------------------------
Robert D. Miller, Jr., Acting U.S. Trustee for Region 18, amended
the Official Committee of Unsecured Creditors in the Chapter 11
case of McGrath's Publick Fish House to reflect the resignation
of Patrick C. Swope from the committee.

The Creditors Committee now consists of:

1. Eric Severson, chairperson
   Northwest Mechanical
   P.O. Box 1593
   Albany, OR 97321
   Tel: (541) 967-7094
   Fax: (541) 967-7089

2. Julie Minnick Bourden
   Alderwood Mall LLC
   c/o GGP Limited Partnership
   110 N. Wacker Drive
   Chicago, IL 60606
   Tel: (312) 960-2707
   Fax: (312) 442-6874
   E-mail: julie.minnick@ggp.com

3. Cindy Urresti
   KNG Inc.
   2102 E. Karcher Rd.
   Nampa, ID 83687
   Tel: (208) 318-0700
   Fax: (208) 318-0187
   E-mail: cindy.urresti@kng.com

4. Ed Burran
   Legacy Air, Inc.
   3529 E. Wood Street
   Phoenix, AZ 85040
   Tel: (602) 263-8111
   Fax: (602) 957-7252
   E-mail: eburran@legacyair.com

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

Salem, Oregon-based McGrath's Publick Fish House, Inc., fdba
McGrath's Properties LLC, filed for Chapter 11 bankruptcy
protection on February 3, 2010 (Bankr. D. Ore. Case No. 10-60500).
Leon Simson, Esq., who has an office in Portland, Oregon, assists
the Company in its restructuring effort.  The Company listed
$10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


MCGRATH'S PUBLICK: Wants Plan Exclusivity until September 1
-----------------------------------------------------------
McGrath's Publick Fish House, Inc., asks the U.S. Bankruptcy Court
for the District of Oregon to extend its exclusive periods to file
and solicit acceptances for the proposed Chapter 11 Plan until
September 1, 2010, and October 1, 2010.

The Debtors have already filed a proposed Chapter 11 Plan of
Reorganization.  The Debtors will begin soliciting votes on the
Plan following approval of the adequacy of the information in the
explanatory Disclosure Statement.

The Debtor explains that it will need to amend its plan of
reorganization and disclosure statement to reach an agreement on
the treatment of most secured creditors.

The Debtor is represented by:

     Leon Simson, Esq.
     E-Mail: leon.simson@tonkon.com
     Timothy J. Conway, Esq.
     E-Mail: tim.conway@tonkon.com
     Haley B. Bjerk, Esq.
     E-Mail: haley.bjerk@tonkon.com
     Tonkon Torp LLP
     1600 Pioneer Tower
     888 S.W. Fifth Avenue
     Portland, OR 97204

Salem, Oregon-based McGrath's Publick Fish House, Inc., fdba
McGrath's Properties LLC, filed for Chapter 11 bankruptcy
protection on February 3, 2010 (Bankr. D. Ore. Case No. 10-60500).
Leon Simson, Esq., who has an office in Portland, Oregon, assists
the Company in its restructuring effort.  The Company listed
$10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


MEDICAL EDUCATIONAL: Case Summary & 8 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Medical Educational and Health Services Inc
        Centro Medico De Mayaguez
        PMB 391 P.O. Box 7999
        Mayaguez, PO 00681

Bankruptcy Case No.: 10-04905

Chapter 11 Petition Date: June 3, 2010

Court: U.S. Bankruptcy Court
       District of Puerto Rico (Ponce)

Debtor's Counsel: Rafael Gonzalez Velez, Esq
                  1806 Calle McLeary Suite 1-B
                  Ocean Park
                  San Juan, PR 00911-1321
                  Tel: (787) 726-8866
                  Fax: (787) 726-8877
                  E-mail: rgvlo@prtc.net

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

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

According to the schedules, the Company says that assets total
$31,474,165 while debts total $1,383,041.

The petition was signed by Orestes Castellanos Rodriguez,
president.

Debtor's List of 8 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Municipio de Mayaguez              --                   $1,295,832
Box 447
Mayaguez, PR 00681-0447

Harry Padilla                      Legal Services          $10,000
P.O. Box 2131
Mayaguez, PR 00681-2131

Servicios Integrados de Salud      Loan                     $7,646
Del Sur Oeste
P.O. Box 8043
Marina Station
Mayaguez, PR 00681-8043

Internal Revenue Service           Taxes                    $1,402

Hector Figueroa                    Accountability           $1,000
                                   Services

Departamento de Hacienda           Taxes                      $455

Dept. Trabajo y Recursos Humanos   Government Human           $326
                                   Resources and Work
                                   Department taxes

Corporacion Fondo Seguro           Government safety          $194
                                   work insurance


MEHDI MOHAMMADIAN: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Joint Debtors: Mehdi Mohammadian
               dba Linda's Shell
               Fereshteh Mohammadian
               919 Stagi Court
               Los Altos, CA 94024

Bankruptcy Case No.: 10-55832

Chapter 11 Petition Date: June 3, 2010

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

Judge: Charles Novack

Debtor's Counsel: Saman Taherian, Esq.
                  The Fuller Law Firm, PC
                  60 N. Keeble Ave.
                  San Jose, CA 95126
                  Tel: (408) 295-5595
                  E-mail: Fullerlawfirmecf@aol.com

Scheduled Assets: $3,742,106

Scheduled Debts: $2,737,725

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

The petition was signed by Mehdi Mohammadian and Fereshteh
Mohammadian.


MERIDIAN RESOURCES: Earns $340,000 for March 31 Quarter
-------------------------------------------------------
Meridian Resources Corporation filed its quarterly report on Form
10-Q, reporting $340,000 of net income on $21.0 million of total
revenues for the three Months ended March 31, 2010, compared with
a net loss of $60.9 million on $22.1 million of total revenues for
the same period a year ago.

The Company's balance sheet at March 31, 2010, showed
$178.0 million in total assets, $115.59 million in total current
liabilities, and $21.3 million in long-term debt, for a total
stockholders' equity of $41.0 million.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?6435

                    About Meridian Resource

Based in Houston, Texas, The Meridian Resource Corporation
(NYSE:TMR) -- http://www.tmrc.com/-- is an independent oil and
natural gas company engaged in the exploration, exploitation,
acquisition and development of oil and natural gas in Louisiana,
Texas, and the Gulf of Mexico.  Meridian has access to an
extensive inventory of seismic data and, among independent
producers, is a leader in using 3-D seismic and other technologies
to analyze prospects, define risk, target and complete high-
potential wells for exploration and development. Meridian has a
field office in Weeks Island, Louisiana.

Meridian reported a net loss of $72,636,000 for 2009 from a net
loss of $209,886,000 for 2008 and net income of $7,137,000 for
2007.  Revenues were $89,254,000 for 2009 from $149,165,000 for
2008 and $152,178,000 for 2007.


MICHAEL FOODS: Discloses Tender Offers & Consent Solicitations
--------------------------------------------------------------
Michael Foods, Inc and M-Foods Holdings, Inc. disclosed that MFI
has commenced a cash tender offer for any and all of the
$150,000,000 aggregate principal amount of its outstanding 8%
Senior Subordinated Notes due 2013 and Holdings has commenced a
cash tender offer for any and all of the $154,061,000 aggregate
principal amount at maturity of its outstanding 9 3/4% Senior
Discount Notes due 2013.

MFI and Holdings also announced concurrent consent solicitations
for proposed amendments to the indentures under which the related
Notes were issued.  The tender offers and the consent
solicitations are being made on the terms and subject to the
conditions set forth in the Offer to Purchase and Consent
Solicitation Statement, dated June 7, 2010, and the related Letter
of Transmittal. Holders that tender their Notes in a tender offer
will be deemed to have consented to the proposed amendments to the
applicable indenture governing such Notes.

Each tender offer will expire at midnight, New York City time, on
Friday, July 2, 2010, unless extended or earlier terminated.  In
order to be eligible to receive the applicable total consideration
(as described below) for tendered Notes, holders must validly
tender and not validly withdraw their Notes at or prior to 5:00
p.m., New York City time, on Friday, June 18, 2010, unless
extended.

The tender offers and consent solicitations are subject to the
satisfaction or waiver of certain conditions as described in the
Offer to Purchase, including (1) the consummation of Holdings'
previously announced merger, (2) the receipt by Holdings of
proceeds from one or more financings generating net proceeds
sufficient to repurchase the Notes tendered, including the payment
of all premiums, if any, consent payments, accrued interest and
costs and expenses incurred in connection therewith and (3) the
receipt by MFI and Holdings of the consents of holders holding at
least a majority of the aggregate principal amount outstanding or
aggregate principal amount at maturity outstanding, of the
applicable series of Notes, in each case as described in more
detail in the Offer to Purchase.

The total consideration for each $1,000 principal amount of MFI
Notes and each $1,000 principal amount at maturity of Holdings
Notes validly tendered and not validly withdrawn and accepted for
purchase pursuant to the applicable tender offer will be an amount
equal to $1,029.17 and $1,035.00, respectively, payable in cash to
holders that validly tender their Notes at or prior to the
applicable Consent Deadline, plus accrued interest.

The applicable total consideration set forth above includes a
consent payment of $15.00 per $1,000 principal amount of MFI Notes
and $15.00 per $1,000 principal amount at maturity of Holdings
Notes, as in each case, payable only to holders that validly
tender and do not validly withdraw their Notes and validly deliver
and do not validly revoke their consents at or prior to the
applicable Consent Deadline.  Holders of Notes validly tendered
after the applicable Consent Deadline will not receive a consent
payment.

Notes validly tendered prior to 5:00 p.m., New York City time, on
Friday, June 18, 2010 may be validly withdrawn and the related
consents may be validly revoked at any time at or prior to the
Withdrawal Date.  Tendered Notes and delivered consents may not be
validly withdrawn or validly revoked after the applicable
Withdrawal Date, except under certain limited circumstances as
described in the Offer to Purchase.

The proposed amendments to the indentures governing the Notes
would eliminate substantially all of the restrictive covenants,
certain affirmative covenants, certain events of default, certain
conditions to legal defeasance or covenant defeasance and
substantially all of the restrictions on the ability of MFI or
Holdings, as applicable, to merge, consolidate or sell all or
substantially all of their properties or assets contained in each
Indenture and the related Notes, and would waive any and all
defaults resulting from the consummation of the merger or the
financing as described in the Offer to Purchase.  Holders may not
deliver consents to the proposed amendments without validly
tendering the related Notes in the applicable tender offer and may
not revoke their consents without withdrawing the previously
tendered Notes to which they relate.

MFI and Holdings have engaged Goldman, Sachs & Co. and BofA
Merrill Lynch as Dealer Managers and Solicitation Agents for the
tender offers and consent solicitations.  Persons with questions
regarding the tender offers or the consent solicitations should
contact Goldman, Sachs & Co. at (800) 828-3182 or collect at (212)
902-5183 or BofA Merrill Lynch at (888) 292-0070 or collect at
(646) 855-3401.  Requests for documents should be directed to
Global Bondholder Services Corporation, the Information Agent and
Depositary for the tender offers and consent solicitations, at
(212) 430-3774 (for banks and brokers) or (866) 294-2200 (for
noteholders).

                       About Michael Foods

MFI, based in Minnetonka, MN, is the largest producer of egg
products in North America. Its egg products include Papetti's(R)
precooked, frozen, liquid, hardcooked and dried products,
Abbotsford Farms cage-free and organic egg products, and All
Whites(R) and Better 'n Eggs(R), both sold at retail. MFI also
owns the Simply Potatoes(R) line of refrigerated potato products,
as well as Crystal Farms(R) branded cheese and refrigerated
products.

                        *     *     *

As reported in the Troubled Company Reporter on May 26, 2010,
Standard & Poor's Ratings Services said that it placed its
ratings, including the 'B+' corporate credit rating, on
Minnetonka, Minn.-based Michael Foods Inc. on CreditWatch with
negative implications, which means that the ratings could be
lowered or affirmed upon completion of S&P's review.


MICHAEL HENNEN: Case Summary & 2 Largest Unsecured Creditors
------------------------------------------------------------
Joint Debtors: Michael C. Hennen
               Crystal L. Hennen
               2710 S. Shore Drive
               Prior Lake, MN 55376

Bankruptcy Case No.: 10-34079

Chapter 11 Petition Date: June 2, 2010

Court: US Bankruptcy Court
       District of Minnesota (St Paul)

Judge: Nancy C. Dreher

Debtor's Counsel: Michael A. Weber, Esq.
                  Weber Law Group P A
                  900 IDS Center
                  80 S 8th Street
                  Minneapolis, MN 55402
                  Tel: (612) 455-4582
                  Fax: (612) 225-1840
                  E-mail: mweber@mweberlaw.com

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

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

A copy of the Joint Debtors' list of 2 largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/mnb10-34079.pdf

The petition was signed by the Joint Debtors.


MIRE INVESTMENT: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Mire Investment, Inc.
        900 Capitol Way S
        Olympia, WA 98501

Bankruptcy Case No.: 10-44498

Chapter 11 Petition Date: June 2, 2010

Court: U.S. Bankruptcy Court
       Western District of Washington (Tacoma)

Judge: Brian D. Lynch

Debtor's Counsel: Karl Y. Park, Esq.
                  1010 S 336th Street, Suite 320
                  Federal Way, WA 98003
                  Tel: (253) 815-1400
                  E-mail: karlpark99@yahoo.com

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

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

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

The petition was signed by the president of Mire Investment Inc.


MOMENTIVE PERFORMANCE: March 28 Balance Sheet Upside-Down by $565M
------------------------------------------------------------------
Momentive Performance Materials Inc.'s March 28, 2010, balance
sheet showed total assets of $3.2 billion and total liabilities of
$3.7 billion, resulting in a shareholders' deficit of $565.7
million.

Highlights of the company's consolidated results for the fiscal
three-month period ended March 28, 2010, include:

   * Net sales of $604.8 million compared to $418.1 million in the
fiscal three-month period ended March 29, 2009, an increase of
44.7%.

   * Adjusted EBITDA of $117.1 million compared to Adjusted EBITDA
of $20.2 million in the fiscal three-month period ended March 29,
2009, an increase of 480%.

   * Operating income of $63.3 million versus operating loss of
$62.8 million in the fiscal three-month period ended March 29,
2009.

   * Net loss attributable to Momentive of $3.4 million compared
to net loss attributable to Momentive of $96.8 million in the
fiscal three-month period ended March 29, 2009.

"We are pleased to report continued recovery in our business in
the first quarter with sales and Adjusted EBITDA up significantly
from our recession-impacted results a year ago, though sales still
remain below normalized pre-recessionary levels," said Jonathan
Rich, President and CEO, in a news release.  He added, "Our strong
year-over-year quarterly comparisons reflect a rebound in our
volumes from last year's depressed levels, better mix and the
impact of the significant cost actions we implemented in 2009. In
2010, we will continue to focus on growth in our specialties
business, improving our productivity and controlling costs."

A full-text copy of the Company's Form 10-Q filed with the
Securities and Exchange Commission is available for free at:

               http://ResearchArchives.com/t/s?645a

                     About Momentive Performance

Momentive Performance Materials, Inc., is a producer of silicones
and silicone derivatives, and is engaged in the development and
manufacture of products derived from quartz and specialty
ceramics.  As of Dec. 31, 2008, the Company had 25 production
sites located worldwide, which allows it to produce the majority
of its products locally in the Americas, Europe and Asia.
Momentive's customers include companies in industries, such as
Procter & Gamble, 3M, Goodyear, Unilever, Saint Gobain, Motorola,
L'Oreal, BASF, The Home Depot and Lowe's.

The Troubled Company Reporter said September 28, 2009, that
Standard & Poor's Ratings Services placed all its ratings on
Momentive Performance Materials and its subsidiaries on
CreditWatch with positive implications, including the 'CCC-'
corporate credit rating on Momentive Performance Materials.  S&P
believes it is likely that the waiver, together with improving
operating performance, significantly reduces the likelihood of a
near-term covenant breach.  Quarterly EBITDA has been climbing
steadily since reaching a low of about $15 million (as calculated
for bank covenant purposes) in the first quarter of 2009.  It was
$64 million in the second quarter, and management expects it to be
between $84 million and $94 million in the third quarter.

According to the Troubled Company Reporter on May 21, 2010,
Moody's Investors Service changed the rating outlook for Momentive
Performance Materials Inc. to stable from negative reflecting the
substantial improvement in performance in the first quarter of
2010 and the expectation that profits will remain elevated.
Moody's also affirmed the company's other ratings (Corporate
Family Rating at Caa1) and updated the LGD point estimate for the
senior unsecured notes.


MONEYGRAM INTERNATIONAL: 2005 Incentive Plan Amendments Approved
----------------------------------------------------------------
Stockholders of MoneyGram International approved the amendments to
the company 2005 Omnibus Incentive Plan in order to:

     i) increase the aggregate number of shares that may be
        granted under the Omnibus Plan to an eligible person in
        any calendar year from 10 million to 12 million shares,

    ii) include an additional provision for limitations on
        performance awards that are denominated in shares in order
        to ensure exemption from Section 162(m) of the Internal
        Revenue Code of 1986, as amended, and

   iii) provide clarification regarding the limitation on
        performance awards that are denominated in cash.

In addition, the Company's stockholders elected these individuals
to serve as directors of the Company for a one year term expiring
at the Company's 2011 annual meeting of stockholders:

* J. Coley Clark
* Victor W. Dahir
* Thomas M. Hagerty
* Scott L. Jaeckel
* Seth W. Lawry
* Ann Mather
* Pamela H. Patsley
* Ganesh B. Rao
* W. Bruce Turner

                  About MoneyGram International

Minneapolis, Minnesota, MoneyGram International (NYSE:MGI) --
http://www.moneygram.com/-- offers more control and more choices
for people separated by distance or with limited bank
relationships to meet their financial needs.  MoneyGram helps
consumers to pay bills quickly and safely send money around the
world in as little as 10 minutes.  Its global network is comprised
of 190,000 agent locations in nearly 190 countries and
territories.  MoneyGram's convenient and reliable network includes
retailers, international post offices and financial institutions.

At December 31, 2009, the Company had total assets of
$5.879 billion against $5.877 billion in total liabilities,
$864.328 million in mezzanine equity and $862.763 million in
stockholders' deficit.

According to the Troubled Company Reporter on April 27, 2010,
Moody's Investors Service affirmed the B1 corporate family rating
for MoneyGram International Inc and revised the rating outlook to
stable from negative.  The revision of the outlook to stable is
based on solid performance of the money transfer business amidst
the global recession and the stabilization of the Financial Paper
Products segment.


MONTECITO AT MIRABEL: To Satisfy Secured Claims by July 2014
------------------------------------------------------------
Montecito at Mirabel Development, L.L.C., filed with the U.S.
Bankruptcy Court for the District of Arizona a Chapter 11 Plan and
an explanatory disclosure statement.

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

According to the Disclosure Statement, the Plan provides for the
Debtor to operate its business as a going-concern and market and
sell the single family residences and lots of the Montecito
property over time to individual purchasers for fair market retail
values, while treating the creditors' claims.

The terms of the Plan provide for (i) deferred payments of all
allowed secured claims, in full, or before July 1, 2014, as single
family residences and lots of the Montecito property are sold to
individual purchasers; (iii) deferred pro rata payments on account
of allowed unsecured claims equal to 50% of net profits of any
single family residences and lots of the Montecito property, with
a stated  unsecured claims distribution minimum of no less than
$30,000.

Under the Plan, the plan account will be funded and be use to pay
the Debtor's operating expenses.

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

The Debtor is represented by:

    Randy Nussbaum, Esq.
    E-mail: rnussbaum@nussbaumgillis.com
    Dean M. Dinner, Esq.
    E-mail: ddinner@nussbaumgillis.com
    Vishnu R. Jonnalagadda, Esq.
    E-mail: vjonnalagadda@nussbaumgillis.com
    Nussbaum & Gillis, P.C.
    14500 N. Northsight Blvd., Suite 116
    Scottsdale, AZ 85260
    Tel: (480) 609-0011
    Fax: (480) 609-0016

                     About Montecito At Mirabel

Mesa, Arizona-based Montecito At Mirabel Development, L.L.C. --
dba Montecito @ Mirabel Development, LLC -- filed for Chapter 11
bankruptcy protection on December 31, 2009 (Bankr. D. Ariz. Case
No. 09-33899).  Randy Nussbaum, Esq., at Nussbaum & Gillis, P.C.,
assists the Company in its restructuring effort.  The Company
listed $10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


MOUNTAIN PLAZA: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Mountain Plaza, Inc.
          dba TR Auto Truck Plaza
              TR Travel Center
        1217 Deep Springs Road
        P.O. Box 340
        Dandridge, TN 37725

Bankruptcy Case No.: 10-32710

Chapter 11 Petition Date: June 3, 2010

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

Judge: Richard Stair Jr.

Debtor's Counsel: Keith L. Edmiston, Esq.
                  Suite 1100, BankEast Building
                  607 Market Street
                  Knoxville, TN 37902
                  Tel: (865) 524-5353
                  Fax: (865) 974-9615
                  E-mail: kedmiston@ritlaw.com

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

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

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

The petition was signed by Rick H. Lewis, president.


MT. ZION LIMITED: Hearing on Cash Collateral Use Set for June 24
----------------------------------------------------------------
The Hon. Pamela Hollis of the U.S. Bankruptcy Court for the
Northern District of Illinois, in a second interim order,
authorized Mt. Zion Limited Partnership to use the cash collateral
of PNC Bank, National Association.

A final hearing on the Debtor's cash collateral use will be held
on June 24, 2010, at 11:00 a.m.  Objections, if any, are due
72 hours prior to the final hearing.

As reported in the Troubled Company Reporter on May 6, 2010, the
Bank asserts a senior position mortgage lien and claim against
the Debtor's residential apartment project in Florence, Kentucky,
known as Woodspring Apartments, which purportedly secures a
mortgage indebtedness of approximately $28,850,000.  The bank
also asserts a security interest in and lien upon the rents being
generated at the property.

The Debtor would use the cash collateral to fund its Chapter 11
case, pay suppliers and other parties.

In exchange for using the cash collateral, the bank will be
allowed to inspect, upon reasonable hours, the Debtor's books and
records.  The Debtor will maintain and pay premiums for insurance
to cover its assets from fire, theft and water damage.  The Debtor
will, upon reasonable request, make available to the bank evidence
of that which purportedly constitutes their collateral or
proceeds.  The Debtor will also property maintain the property in
good repair and properly manage the property.

                     About Mt. Zion Limited

Lake Forest, Illinois-based Mt. Zion Limited Partnership, dba
Woodspring Apartments, owns and operates a residential apartment
project located in Florence, Kentucky, known as Woodspring
Apartments.  The Company filed for Chapter 11 bankruptcy
protection on April 23, 2010 (Bankr. N.D. Ill. Case No. 10-18075).
David K Welch, Esq., at Crane Heyman Simon Welch & Clar, assists
the Company in its restructuring effort.  The Company estimated
its assets and debts at $10,000,001 to $50,000,000.


NAVISTAR INTERNATIONAL: To Present Q2 Results Tomorrow
------------------------------------------------------
Navistar International Corporation said it will present via live
web cast its fiscal 2010 second quarter financial results on
June 9, 2010.  The web cast will include Daniel C. Ustian,
Chairman, President and Chief Executive Officer, A. J. Cederoth,
Executive Vice President and Chief Financial Officer, and other
Company leaders.

                   About Navistar International

Navistar International Corporation (NYSE: NAV) --
http://www.Navistar.com/-- is a holding company whose
subsidiaries and affiliates subsidiaries produce International(R)
brand commercial and military trucks, MaxxForce(R) brand diesel
engines, IC Bus(TM) brand school and commercial buses, Monaco RV
brands of recreational vehicles, and Workhorse(R) brand chassis
for motor homes and step vans.  It also is a private-label
designer and manufacturer of diesel engines for the pickup truck,
van and SUV markets.  The company also provides truck and diesel
engine parts and service.  Another affiliate offers financing
services.

The Company's balance sheet at Jan. 31, 2010, showed total assets
of $9.12 billion and total liabilities of $10.74 billion,
resulting in a stockholders' deficit of $1.62 billion.

                           *     *     *

As reported by the Troubled Company Reporter on March 22, 2010,
Fitch Ratings revised Navistar's and Navistar Financial Corp.'s
Rating Outlooks to Positive from Negative and affirmed the
companies' long-term Issuer Default Ratings at 'BB-'.  The Outlook
revisions are driven by improvement in the financial profile of
NFC following the signing of an operating agreement with GE
Capital and by NAV's financial performance in the past year.
Historically, Fitch had concerns with NFC's funding,
capitalization, and asset quality performance, but they have been
eliminated or reduced with the new agreement with GECC.

According to the TCR on March 11, 2010, Moody's Investors Service
maintained its B1 long-term rating, SGL-2 Speculative Grade
Liquidity rating and stable outlook for Navistar following the
announcement that GE Capital will become the preferred provider of
retail financing in support of Navistar's truck and bus sales in
the US.  Moody's said Navistar's captive finance operation,
Navistar Financial Corporation, should be relieved of the capital
and liquidity burden necessary to support new retail and lease
originations.  In addition, GE Capital's stronger balance sheet
and superior capital market access relative to that of NFC, should
improve the availability of the financing that can be offered to
retail purchasers of Navistar equipment.

According to the TCR on January 28, 2010, Standard & Poor's
Ratings Services said it revised its outlook on Navistar and
related entities to stable from negative and affirmed its 'BB-'.


NEALCO DEVELOPMENT: Case Summary & Largest Unsecured Creditor
-------------------------------------------------------------
Debtor: Nealco Developments, LLC
        1281 South Houston Lake Rd, Suite B
        Warner Robins, GA 31088
        Tel: (478) 955-2386

Bankruptcy Case No.: 10-51699

Chapter 11 Petition Date: June 1, 2010

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

Judge: James P. Smith

Debtor's Counsel: Robert Abney Fricks, Esq.
                  The Fricks Firm, PC
                  110 Latham Drive, Suite A
                  Warner Robins, GA 31088
                  Tel: (478) 953-2312
                  Fax: (478) 953-2313
                  E-mail: rob@fricksfirm.com

Scheduled Assets: $2,000,000

Scheduled Debts: $1,980,000

In its list of 20 largest unsecured creditors, the Company placed
only one entry:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Houston County            property taxes         $5,800
Tax Comm.
P.O. Drawer 7779
200 Carl Vinson Pkwy.
Warner Robins, Georgia 3108

The petition was signed by Neal Benjamin Krajeyski, managing
member.


NEENAH ENTERPRISES: Has Until October 1 to File Chapter 11 Plan
---------------------------------------------------------------
The Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware extended Neenah Enterprises, Inc.'s exclusive
periods to file and solicit acceptances for the proposed
Chapter 11 Plan until October 1, 2010, and December 1, 2010,
respectively.

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.


NETWORK COMMS: Hires Kirkland, Houlihan for Restructuring
---------------------------------------------------------
Network Communications, Inc., announced that it is actively
working with its stakeholders to restructure its balance sheet.

The Company elected not to make the June 1 interest payment on its
10.75% Senior Notes due 2013 as negotiations with stakeholders
continue.  As a result of missing this payment, the Company's
senior secured lenders accelerated all amounts outstanding under
the Company's revolving and term loan credit agreements, which in
turn triggered an event of default under the Senior Notes
indenture.  The Company obtained an agreement from its secured
lenders permitting it to have continued access to and use of its
cash as restructuring negotiations progress.  The Company expects
to have sufficient cash on hand to fund normal course operations
through this process.

"Over the past 24 months, our business performance at NCI has been
negatively affected by the ongoing slump in the housing market and
the economy in general. Our Company continues to maintain
historically strong operating margins and cash flow generation,
leading positions in many of our markets and promising new and
innovative products," said Chairman & CEO Dan McCarthy.

"Unfortunately, the decline in operations has left us with more
debt than we can reasonably service in the current business
climate.  The Board of Directors is supportive of a comprehensive
balance sheet restructuring to address this issue and put the
Company in a position to be able to take advantage of business
opportunities that we believe lie ahead."

NCI expects to maintain current staffing levels during the
restructuring process and intends to fund its ongoing business
with cash on hand and cash from continuing operations.  The
Company has engaged Kirkland & Ellis LLP as legal advisor and
Houlihan Lokey as financial advisor to assist the Company with its
restructuring.  "We look forward to continuing our discussions
with our stakeholders to achieve a successful balance sheet
restructuring, which, if consummated, will position the Company
for future growth," said Mr. McCarthy.

                   About Network Communications

Network Communications, Inc. is a publisher of information for the
local real estate market in North America. Through its network of
online and print distribution points, the Company provides local
information to consumers involved in buying, leasing and
renovating a home. The Company's reader base selects its print and
online publications for advertisements. The Company's advertisers
include agents, property management companies, new home builders
and home renovation products and service providers. The Company
operates in approximately 550 targeted markets, which may overlap
geographically across the United States and Canada, and have a
monthly print and online reach of approximately 13 million
potential consumers seeking to buy, rent or renovate their homes.

The Company had a $3.8 million net loss for the quarter ended Dec.
6 on sales of $33.8 million.  For nine months ended Dec. 6, the
net loss was $10.5 million on sales of $105.2 million.  Assets
were on the books for $362 million on Dec. 6, with total
liabilities of $330 million.


NEVADA STAR: Amends List of Largest Unsecured Creditors
-------------------------------------------------------
Nevada Star, LLC, filed with the U.S. Bankruptcy Court for the
Central District of California amended list of its largest
unsecured creditors.

A full-text copy of the amended list is available for free
at http://bankrupt.com/misc/cacb10-26188_amended.pdf

Beverly Hills, California-based Nevada Star, LLC, filed for
Chapter 11 bankruptcy protection on April 26, 2010 (Bankr. C.D.
Calif. Case No. 10-26188).  Michael Jay Berger, Esq., who has an
office in Beverly Hills, California, assists the Company in its
restructuring effort.  The Company estimated it assets and debts
at $10,000,001 to $50,000,000.


NEVADA STAR: Files Schedules of Assets and Liabilities
------------------------------------------------------
Nevada Star, LLC, filed with the U.S. Bankruptcy Court for the
Central District of California its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $22,000,000
  B. Personal Property              $274,634
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $8,454,738
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $3,737,012
                                 -----------      -----------
        TOTAL                    $22,274,634      $12,191,750

Beverly Hills, California-based Nevada Star, LLC, filed for
Chapter 11 bankruptcy protection on April 26, 2010 (Bankr. C.D.
Calif. Case No. 10-26188).  Michael Jay Berger, Esq., who has an
office in Beverly Hills, California, assists the Company in its
restructuring effort.  The Company estimated it assets and debts
at $10,000,001 to $50,000,000.


NEVADA STAR: Taps the Law Offices of Michael Jay Berger as Counsel
------------------------------------------------------------------
Nevada Star, LLC, asks the U.S. Bankruptcy Court for the Central
District of California for permission to employ Law Offices of
Michael Jay Berger as general bankruptcy counsel.

The firm will provide legal services including pre-bankruptcy
planning, communicating with creditors, preparing the Debtors
Chapter 11 bankruptcy petition and all supporting schedules,
advising the Debtor of its legal rights and obligation in a
bankruptcy proceeding.

The firm received $23,961 prepetition retainer from the Debtor's
funds.  The firm's actual fees includes $2,177 and $17,707, in
prepetition and postpetition legal fees.  As of May 20, the firm's
costs are $1,039 and $46, respectively.

The hourly rates of the firm's personnel are:

     Mr. Berger                 $390
     Senior Associates          $360
     Junior Associates          $250
     Paralegals and Law Clerks  $200

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

The firm can be reached at:

     Law Offices of Michael Jay Berger
     Michael Jay Berger, Esq.
     E-mail: michael.berger@bankruptcypower.com
     9454 Wilshire Blvd., 6th Floor
     Beverly Hills, CA 90212-2929
     Tel: (310) 271-6223
     Fax: (310) 271-9805

                      About Nevada Star, LLC

Beverly Hills, California-based Nevada Star, LLC, filed for
Chapter 11 bankruptcy protection on April 26, 2010 (Bankr. C.D.
Calif. Case No. 10-26188).  Michael Jay Berger, Esq., who has an
office in Beverly Hills, California, assists the Company in its
restructuring effort.  The Company estimated it assets and debts
at $10,000,001 to $50,000,000.


NEXSTAR BROADCASTING: Picks 10 Individuals to Serve as Directors
----------------------------------------------------------------
At the Annual Meeting of Shareholders held on May 27, 2010,
shareholders elected 10 individuals nominated by Nexstar
Broadcasting Group Inc. to serve as directors:

* Perry A. Sook
* Erik Brooks
* Jay M. Grossman
* Brent Stone
* Tomer Yosef-Or
* Royce Yudkoff
* Geoff Armstrong
* Michael Donovan
* I. Martin Pompadur
* Lisbeth McNabb

The shareholders also approved the ratification of the appointment
of PricewaterhouseCoopers LLP as the company's independent
registered public accounting firm for the fiscal year ended
December 31, 2010.

Shareholders also approved the repricing of certain stock options
granted under the Company's long-term equity incentive plans
received.

                  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.


NICOS LOIZOU: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Nicos C. Loizou
        1371 W. Little Neck Road
        Virginia Beach, VA 23452

Bankruptcy Case No.: 10-72672

Chapter 11 Petition Date: June 2, 2010

Court: U.S. Bankruptcy Court
       Eastern District of Virginia (Norfolk)

Judge: Frank J. Santoro

Debtor's Counsel: Joseph T. Liberatore, Esq.
                  Crowley, Liberatore, & Ryan, P.C.
                  1435 Crossways Boulevard, Suite 300
                  Chesapeake, VA 23320
                  Tel: (757) 333-4500
                  Fax: (757) 333-4501
                  E-mail: jliberatore@clrfirm.com

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

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

A copy of the Debtor's list of 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/vaeb10-72672.pdf

The petition was signed by the Debtor.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Maria Loizou                          07-72148            09/25/07


NORTH AMERICAN PETROLEUM: Gets Interim Okay to Use Cash Collateral
------------------------------------------------------------------
North American Petroleum Corporation USA, et al., sought and
obtained interim authorization from the Hon. Kevin J. Carey of the
U.S. Bankruptcy Court for the District of Delaware to use the cash
collateral securing their obligation to their prepetition lenders.

Domenic E. Pacitti, Esq., at Klehr Harrison Harvey Branzburg LLP,
the attorney for the Debtors, explained that the Debtors need the
money to fund their Chapter 11 case, pay suppliers and other
parties.

To support their drilling activities, the Debtors entered into a
certain senior secured credit agreement originally dated
August 25, 2005, with Texas Capital Bank, N.A., as Administrative
Agent, and Guaranty Bank, FSB, as Co-Agent Bank, on behalf of the
lender parties thereto, to provide the Debtors with a $200 million
term and revolving credit facility.  Approximately $103 million
remains outstanding under the Prepetition Credit Agreement.

Under a reimbursement agreement (the Cost Recovery Agreement) with
the Debtors, Enterra Energy Corp. and certain of its affiliates
agreed to provide up-front funding for the construction of certain
waste-water disposal and other infrastructure improvements for
wells.  Although the Debtors were required pursuant to the Cost
Recovery Agreement to ultimately fund more than the entire cost of
the infrastructure improvements, the improvements remained
property of Enterrra, and the Debtors had no interest in the
improvements.  Enterra claims that approximately $15 million
remains to be paid by the Debtors under the Cost Recovery
Agreement.

As of the Petition Date, the Debtors had total consolidated funded
debt of approximately $103 million, consisting of secured bank
debt under the prepetition secured credit agreement.  In addition,
to date Enterrra has asserted statutory mechanics and
materialman's liens against certain prepetition collateral for
prepetition  obligations allegedly owed from the Debtors to
Enterra in an amount of approximately $9.2 million.

In exchange for using the cash collateral, the Debtors will grant
the Co-Agents additional and replacement continuing valid,
binding, enforceable, non-avoidable, and automatically perfected
postpetition security interests in and liens on any and all
presently owened and hereafter acquired personal property, real
property and all other assets of the Debtors.

As further adequate protection of the interests of the prepetition
lenders and Enterra against diminution in value of their
interests, the Debtors will commence negotiations with Enterra and
the Prepetition Lenders regarding a schedule for the restructuring
and/or sale of the Debtors' assets.

The Debtors will use the collateral pursuant to a budget, a copy
of which is available for free at:

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

The Court has set a final hearing for June 22, 2010, at
12:00 p.m., prevailing Eastern Time, on the Debtors' request to
use cash collateral.

                  About North American Petroleum

Denver, Colorado-based North American Petroleum Corp. USA is a
natural gas driller.  North American Petroleum and Prize Petroleum
are subsidiaries of Petroflow Energy Corporation.

North American Petroleum filed for Chapter 11 bankruptcy
protection on May 25, 2010 (Bankr. D. Del. Case No. 10-11707).
Kirkland & Ellis LLP assists the Company in its restructuring
effort.   Domenic E. Pacitti, Esq., at Klehr Harrison Harvey
Branzburg LLP, is the Company's Delaware counsel.  Kinetic
Advisors LLC is the Company's  restructuring advisor.  Epiq
Bankruptcy Solutions, LLC, is the Company's notice, claims and
balloting agent.  The Company estimated its assets and debts at
$100,000,001 to $500,000,000.

The Company's affiliate, Prize Petroleum LLC, filed a separate
Chapter 11 petition on May 25, 2010 (Case No. 10-11708), listing
up to $0 to $50,000 in assets and $100,000,001 to $500,000,000 in
debts.


NORTH AMERICAN PETROLEUM: Gets OK to Hire Epiq as Claims Agent
--------------------------------------------------------------
North American Petroleum Corporation USA, et al., sought and
obtained authorization from the Hon. Kevin J. Carey of the U.S.
Bankruptcy Court for the District of Delaware to employ Epiq
Bankruptcy Solutions, LLC, as notice, claims and balloting agent.

Epiq will, among other things:

     a. prepare and serve a variety of documents on behalf of the
        Debtors in their Chapter 11 cases;

     b. maintain an official claims register in the Debtors'
        Chapter 11 cases by docketing proofs of claims and proofs
        of interests in a database;

     c. provide access to the public for examination of copies of
        the proofs of claims and proofs of interests filed in the
        Debtors' Chapter 11 cases; and

     d. act as balloting agent.

Epiq will be compensated based on its services agreement with the
Debtors.  A copy of the agreement is available for free at:

               http://ResearchArchives.com/t/s?644f

Daniel C. McElhinney, executive director of Epiq, assures the
Court that the firm is "disinterested" as that term is defined in
Section 101(14) of the Bankruptcy Code.

                  About North American Petroleum

Denver, Colorado-based North American Petroleum Corp. USA is a
natural gas driller.  North American Petroleum and Prize Petroleum
are subsidiaries of Petroflow Energy Corporation.

North American Petroleum filed for Chapter 11 bankruptcy
protection on May 25, 2010 (Bankr. D. Del. Case No. 10-11707).
Kirkland & Ellis LLP assists the Company in its restructuring
effort.   Domenic E. Pacitti, Esq., at Klehr Harrison Harvey
Branzburg LLP, is the Company's Delaware counsel.  Kinetic
Advisors LLC is the Company's  restructuring advisor.  Epiq
Bankruptcy Solutions, LLC, is the Company's notice, claims and
balloting agent.  The Company estimated its assets and debts at
$100,000,001 to $500,000,000.

The Company's affiliate, Prize Petroleum LLC, filed a separate
Chapter 11 petition on May 25, 2010 (Case No. 10-11708), listing
up to $0 to $50,000 in assets and $100,000,001 to $500,000,000 in
debts.


NORTH AMERICAN TECH: US Trustee Forms 3-Member Creditors Committee
------------------------------------------------------------------
William T. Neary, U.S. Trustee for Region 6, appointed three
members to the official committee of unsecured creditors in the
Chapter 11 cases of North American Technologies Group, Inc.,
et al.

The Creditors Committee members are:

1. Jim Green - interim chairman
   Astro Industries, Inc.
   901 Industrial Parkway
   West Monroe, LA 71291
   Tel: (318) 936-2688
   Fax: (318) 396-2959
   E-mail: jim@astroindustriesus.com

2. Dale Van Steenbert, CFO
   Liberty Tire Recycling, LLC
   625 Liberty Avenue, No. 3100
   Pittsburgh, PA 15222
   Tel: (412) 562-1700
   Fax: (412) 562.0248
   E-mail: vansteenberg@libertytire.com

3. Mike Petterson, president
   110 E. 211th Street
   Euclid, OH 44123
   Tel: (216) 731-5555
   Fax: (216) 731-5550
   E-mail: mpetterson@primetimeplastics.com

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

Marshall, Texas-based North American Technologies Group, Inc.,
filed for Chapter 11 bankruptcy protection on March 18, 2010
(Bankr. E.D. Texas Case No. 10-20071).  The Company estimated its
assets and debts at $10,000,001 to $50,000,000.

The Debtor's affiliate, TieTek, LLC (Case No. 10-20072) filed a
separate Chapter 11 bankruptcy petition on March 18, 2010, listing
$10 million to $50 million in assets and $50 million to
$100 million in debts.


NORTHSIDE VILLAGE: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Northside Village Partnership, L.P.
        aka Gateway Apartments at Northside Village
        aka Gateway at Northside Village Apartments
        370 Northside Drive
        Atlanta, GA 30318

Bankruptcy Case No.: 10-76197

Chapter 11 Petition Date: May 31, 2010

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

Debtor's Counsel: Sean C. Kulka, Esq.
                  Arnall, Golden, Gregory LLP
                  171 17th Street, N.W., Suite 2100
                  Atlanta, GA 30363
                  Tel: (404) 873-8682
                  E-mail: sean.kulka@agg.com

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

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ganb10-76197.pdf

The petition was signed by Hugh L. Nelson, chief financial
officer.


NOWAUTO GROUP: Sues Former Auditor; Amends Financial Reports
------------------------------------------------------------
NowAuto Group, Inc., disclosed it has initiated legal action
against Moore & Associated Chartered.

In August 2009, Michael Moore of Moore & Associates, Chartered
contacted NowAuto Group to say that he had sold his audit practice
to Seale and Beers, CPAs and was retiring from auditing
altogether.  Seale and Beers CPAs was created for the purpose of
purchasing this business.  They acquired all staff and accounts.

NowAuto Group accepted the new firm as its new auditor in part
because NowAuto Group was close to a reporting date.  Within
hours, NowAuto Group learned the truth that Mr. Moore was being
deregistered by the Public Company Accounting Oversight Board and
sanctioned by the Securities and Exchange Commission.  The PCAOB
is a private sector, nonprofit corporation, created by the
Sarbanes-Oxley Act of 2002, to oversee the auditors of public
companies to protect the interests of investors and further the
public interest in the preparation of informative, fair and
independent audit reports.

The announcements were made public on August 27.  Therefore, the
Company was required to re-audit the year ending June 30, 2008.
Seale and Beers CPAs soon learned what the PCAOB already knew that
the staff and other resources acquired was not adequate enough to
properly service all the accounts. As a result, Seale and Beers
withdrew from a number of audit engagements.  They withdrew from
NowAuto Group's engagement on September 8.

Prior to these events, the Company was considering a possible
restatement of Goodwill and Bad Debt Reserve.  At no time was
there ever a dispute with any auditor, though there were many
discussions and a number of differing opinions offered.  The
Company ultimately took a conservative approach.  The year ending
June 30, 2008, and the Balance Sheet of June 30, 2007, has been
re-audited.  All Goodwill has been fully impaired. The reserve for
Bad Debt has been increased by $1,082,006, much higher than the
$650,000 originally suggested. This accrual does not reflect
management's opinion that losses will be substantial higher in the
future nor does anyone believe that the Bad Debt record in 2008
and 2009 was understated.  The reserve was simply too low.

On May 25, 2010, the Company filed with the SEC its:

     -- amended annual report on Form 10-K/A for the fiscal year
        ended June 30, 2009

        See http://ResearchArchives.com/t/s?643d

     -- amended quarterly report on Form 10-Q/A for the fiscal
        quarter ended March 31, 2009

        See http://ResearchArchives.com/t/s?643e

     -- amended quarterly report on Form 10-Q/A for the fiscal
        quarter ended December 31, 2008

        See http://ResearchArchives.com/t/s?643f

     -- amended quarterly report on Form 10-Q/A for the fiscal
        quarter ended September 30, 2008

        See http://ResearchArchives.com/t/s?6440

     -- amended annual report on Form 10-K/A for the fiscal year
        ended June 30, 2008

        See http://ResearchArchives.com/t/s?6441

NowAuto Group, Inc., operates three buy-here-pay-here used vehicle
dealerships in Arizona.  The Company manages all of its
installment finance contracts and purchases installment finance
contracts from a select number of other independent used vehicle
dealerships.

The Company's balance sheet at March 31, 2010, showed $4.6 million
in total assets and $12.5 million in total liabilities, for a
total stockholders' deficit of $7.8 million.

In its March 2010 quarterly report, the Company indicated it
sustained a material loss in the year ended June 30, 2005, and
continued to sustain material losses through March 31, 2010.  This
raises substantial doubt about its ability to continue as a going
concern.


NPS PHARMACEUTICAL: Stockholders Approve 2010 Stock Purchase Plan
-----------------------------------------------------------------
NPS Pharmaceuticals Inc.'s stockholders approved the Company's
2010 Employee Stock Purchase Plan, which provides eligible
employees of NPS and its participating subsidiaries with the
opportunity to purchase shares of NPS common stock, at a purchase
price equal to 85% of the lower of:

   * the fair market value of the common stock on the first day of
     the offering period and

   * the fair market value of the common stock on the purchase
     date at the end of the offering period.

The offering periods of the ESPP are set at six months, with the
initial period beginning on April 1, 2010.  Employees may
generally contribute to the ESPP up to 15% of their eligible
compensation through payroll deductions.  In any single year,
however, no employee may purchase more than $25,000 of common
stock.  500,000 shares of the Company's common stock have been
reserved for issuance pursuant to the ESPP.

The ESPP became effective on February 12, 2010 upon adoption by
the Compensation Committee of the Company's Board of Directors,
subject to stockholder approval.  The ESPP expires on February 12,
2020, unless earlier terminated by the Company's Board of
Directors.

A full-text copy of the Company's stock purchase plan is available
for free at http://ResearchArchives.com/t/s?6431

                     About NPS Pharmaceuticals

Based in Bedminster, New Jersey, NPS Pharmaceuticals Inc. (Nasdaq:
NPSP) -- http://www.npsp.com/-- is developing specialty
therapeutics company for gastrointestinal and endocrine disorders
with high unmet medical need.  The Company is currently advancing
two late-stage programs.  Teduglutide, a proprietary analog of
GLP-2, is in Phase 3 clinical development for intestinal failure
associated with short bowel syndrome as GATTEX(TM) and in
preclinical development for gastrointestinal mucositis and
necrotizing enterocolitis.

The Company's balance sheet at December 31, 2009, showed
$159.5 million in total assets and $382.3 million in total
liabilities for a $222.7 million stockholders' deficit.

According to the Company, it has not been profitable since its
inception in 1986.  As of December 31, 2009, the company had an
accumulated deficit of approximately $922.7 million.  At present,
revenue from product sales has been in the form of royalty
payments from Amgen on sales of Sensipar, royalty payments from
Nycomed on sales of Preotact, royalty payments from Kyowa Kirin
on sales of REGPARA, milestone revenue from the company's
collaborative agreements with Nycomed, product sales to Nycomed
and beginning in 2009, royalty payments on sales of Nucynta by
Ortho-McNeil.

OrbiMed Advisors LLC and OrbiMed Capital LLC hold shares on behalf
of Eaton Vance Worldwide Health Sciences (2,385,000 shares), Eaton
Vance Emerald Worldwide Health Sciences (39,000 shares), Eaton
Vance Variable Trust (45,000 shares), and Finsbury Worldwide
Pharmaceutical Trust (1,850,000 shares).


NYC OFF-TRACK BETTING: Chairman Says Fin'l Overhaul "Too Steep"
---------------------------------------------------------------
According to the NY Heard on the Fields section at The Wall Street
Journal, Meyer "Sandy" Frucher, the chairman of New York City Off-
Track Betting Corp., announced that the odds for a successful
overhaul of his organization were simply too steep.  Mr. Frucher
said in a resignation letter Saturday, recent failures to agree on
restructuring terms made the planned overhaul -- which included
reducing staff by as much as 65% and restructuring how NYC OTB
distributes revenue to the racing community -- "no longer
possible.

                           About NYC OTB

New York City Off-Track Betting Corporation is a public benefit
corporation, which operates an off-track pari-mutuel betting
system on thoroughbred and harness horse races held at all 11 race
tracks located in New York State and certain race tracks located
outside of the State.  Since NYC OTB's inception in 1971, it has
made payments of nearly $2 billion to the State horse racing
industry, more than $1.4 billion to New York City and nearly
$600 million to the State.  In 2008 alone, NYC OTB made statutory
contributions in an aggregate amount of $128.6 million to the
State horse racing industry, the State, the City, and other local
municipalities.  NYC OTB's operations are regulated by the State.

NYC OTB filed for bankruptcy under Chapter 9 of the Bankruptcy
Code on December 3, 2009 (Bankr. S.D.N.Y. Case No. 09-17121).
Richard Levin, Esq., at Cravath, Swaine & Moore LLP, in New York,
serves as the Debtor's counsel.

At September 30, 2009, NYC OTB had $18,468,147 in total assets
against $74,912,742 in total current liabilities, $6,982,887 in
long-term liabilities, and $201,020,000 in long-term post
employment benefits.


O&G LEASING: Files List of 20 Largest Unsecured Creditors
---------------------------------------------------------
RCC North LLC has filed with the U.S. Bankruptcy Court for the
District of Arizona a list of its 20 largest unsecured creditors:

   Entity                                       Claim Amount
   ------                                       ------------
Performance Drilling, LLC
816 North College Street
Brandon, 39042                                   $10,229,689

Crews & Associates, Inc.
521 President Clinton Avenue S#800
Little Rock, AR 72201                             $8,415,000

First United Bank & Trust
1400 W. Main
Durant, OK 74701                                  $7,054,890

Unknown Bondholders
Reported Cusip #67084VAP3
First Security Bank 314 N. Spring St.
Searcy, AR 72143                                  $3,641,510

Sterne, Agee & Leach, Inc.
11300 Cantrell Road, S# 101
Little Rock, AR 72212                             $3,320,000

Octane Funding LLC
125 South Congress Street, Suite 1610
Jackson, MS 39201                                 $2,268,086

MCNB Bank & Trust
85 Wyoming Street
Welch, WV 24801                                   $1,900,000

IMS Capital Management
8995 S.E. Otty Road
Portland, OR 97266                                $1,835,000

Octane II Funding LLC
125 South Congress Street, Suite 1610
Jackson, MS 39201                                 $1,819,427

Steven Cauley
P.O. Box 25438
Little Rock, AR 72221                               $500,000

SAJAC O&G Investors, LLC
125 S. Congress Street, Suite 1610
Jackson, MS 39201                                   $276,660

Hannah Kay Finley
1805 Wilaray Terrace
Cincinnati, OH 45230                                 $270,000

Willis D Shaw
1923 East Joyce Boulevard Apt #330
Fayetteville, AR 72703                               $255,000

Murchison Living                                     $230,000

Pruett Manufacturing                                 $215,000

Christopher B. Allison                               $200,000

Stephen E. Achon                                     $180,000

Nathan J. Ginsberg                                   $150,000

William H. Buckles                                   $130,000

David P. Chock                                       $121,000

Jackson, Mississippi-based O&G Leasing, LLC, filed for Chapter 11
bankruptcy protection on May 21, 2010 (Bankr. S.D. Miss. Case No.
10-01851).  Douglas C. Noble, Esq., at McCraney Montagnet & Quin,
PLLC, assists 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.


ONOMEA BAY: Case Summary & 19 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Onomea Bay, LLC
        PMB 29, Box 10001
        Saipan, MP 96950

Bankruptcy Case No.: 10-01674

Chapter 11 Petition Date: June 3, 2010

Court: United States Bankruptcy Court
       District of Hawaii (Honolulu)

Debtor's Counsel: Jerrold K. Guben, Esq.
                  O'Connor Playdon & Guben
                  733 Bishop St., Fl. 24
                  Honolulu, HI 96813
                  Tel: (808) 524-8350
                  Fax: (808) 531-8628
                  E-mail: jkg@roplaw.com

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

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

A list of the Company's 19 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/hib10-01674.pdf

The petition was signed by John Mulder, manager of OBRC, LLC, sole
member of Ononea Bay LLC.


ORLEANS HOMEBUILDERS: NYSE Files Form 25 to Delist Shares
---------------------------------------------------------
NYSE Amex filed a Form 25 with the Securities and Exchange
Commission to remove from listing and registration Orleans
Homebuilders Inc.'s common stock.

                     About Orleans Homebuilders

Orleans Homebuilders, Inc. -- aka FPA Corporation, OHB, Parker &
Lancaster, Masterpiece Homes, Realen Homes and Orleans --
develops, builds and markets high-quality single-family homes,
townhouses and condominiums.  From its headquarters in suburban
Philadelphia, the Company serves a broad customer base including
first-time, move-up, luxury, empty-nester and active adult
homebuyers.  The Company currently operates in these 11 distinct
markets: Southeastern Pennsylvania; Central and Southern New
Jersey; Orange County, New York; Charlotte, Raleigh and
Greensboro, North Carolina; Richmond and Tidewater, Virginia;
Chicago, Illinois; and Orlando, Florida.  The Company's Charlotte,
North Carolina operations also include adjacent counties in South
Carolina.  Orleans Homebuilders employs approximately 300 people.

The Company filed for Chapter 11 bankruptcy protection on March 1,
2010 (Bankr. D. Del. Case No. 10-10684).  Cahill Gordon & Reindell
LLP is the Debtor's bankruptcy and restructuring counsel.  Curtis
S. Miller, Esq., and Robert J. Dehney, Esq., at Morris, Nichols,
Arsht & Tunnell, are the Debtor's Delaware and restructuring
counsel.  Blank Rome LLP is the Debtor's special corporate
counsel.  Garden City Group Inc. is the Debtor's claims and notice
agent.  The Company estimated assets and debts at $100,000,001 to
$500,000,000.


PAETEC HOLDING: Stockholders Elect 3 to Board of Directors
----------------------------------------------------------
PAETEC Holding Corp.'s stockholders elected Shelley Diamond, H.
Russell Frisby, and Michael C. Mac Donald to the board of
directors, and ratified the appointment of Deloitte & Touche LLP
as the Company's independent registered public accounting firm for
the 2010 fiscal year.

                     About PAETEC Holding

PAETEC Holding Corp., through its subsidiaries, provides
integrated communications services, including local and long
distance voice, data, and broadband Internet access services,
primarily to business and institutional customers.  On February 8,
2008, PAETEC Holding completed its combination by merger with
McLeodUSA Incorporated, which became a wholly owned subsidiary of
PAETEC Holding upon completion of the merger.

Effective on June 1, 2009, the Company entered into a Second
Amendment and Waiver to its Credit Agreement with its lenders
which amends the Credit Agreement, dated as of February 28, 2007,
and amended as of June 27, 2007.  The Amendment grants the Company
the right, at its option and subject to specified conditions,
voluntarily to prepay term loans outstanding under its term loan
facilities at any time and from time to time during a period
beginning on the effective date of the Amendment and ending 18
months after such effective date.  The total cash payments to be
made by the Company in connection with such voluntary prepayments
may not exceed $100,000,000, excluding amounts applied to the
payment of accrued and unpaid interest and fees.

The Amendment also modifies some of the restrictive covenants in
the Credit Agreement primarily to permit the Company to issue
senior secured notes and to allow the Company and its subsidiaries
to incur indebtedness and related obligations under such notes if
specified conditions are satisfied.

                         *     *     *

As reported by the Troubled Company Reporter on June 18, 2009,
Standard & Poor's Ratings Services assigned PAETEC Holding's
proposed senior secured notes due 2017 an issue-level rating of
'B' (the same as the corporate credit rating) with a recovery
rating of '3', indicating expectations for meaningful (50%-70%)
recovery in the event of payment default.  At the same time, S&P
affirmed all other ratings on PAETEC, including the 'B' corporate
credit rating.  The outlook is stable.

Moody's Investors Service assigned a B1 rating to the senior
secured note issuance.  Moody's affirmed all other ratings,
including the SGL-1 liquidity rating.  The rating outlook remains
stable.


PALM INC: FTC Cuts Waiting Period for HP Purchase
-------------------------------------------------
The Federal Trade Commission granted early termination of the
waiting period under the Hart-Scott-Rodino Antitrust Improvements
Act of 1976 relating to the pending acquisition by Hewlett-Packard
Company of Palm Inc.

Palm has also received all required pre-closing foreign antitrust
approvals.  The proposed merger remains subject to other customary
closing conditions, including the approval of Palm's stockholders.

The special meeting of Palm's stockholders to vote on the proposed
merger is currently scheduled to be held on Friday, June 25, 2010.

                       About Palm Inc.

Sunnyvale, California-based Palm, Inc. (NASDAQ: PALM) creates
intuitive and powerful mobile experiences that enable consumers
and businesses to connect to their information in more useful and
usable ways.  Palm products are sold through select Internet,
retail, reseller and wireless operator channels, and at the Palm
online store at http://www.palm.com/store

At February 28, 2010, Palm had total assets of $1,007,237,000
against total current liabilities of $601,133,000; long-term debt
of $387,000,000; non-current deferred revenues of $19,001,000;
non-current tax liabilities of $6,286,000; Series B redeemable
convertible preferred stock of $272,961,000; and Series C
redeemable convertible preferred stock of $18,782,000; resulting
in stockholders' deficit of $297,926,000.  At May 31, 2009,
stockholders' deficit was $406,568,000.

                          *     *     *

As reported by the Troubled Company Reporter on March 5, 2010,
Standard & Poor's Ratings Services affirmed its 'CCC+' corporate
credit rating and other ratings on Palm Inc. and revised the
ratings outlook to negative from positive.  "The action reflects
the company's announcement that revenues in the February 2010
quarter and fiscal year ending May 2010 will be well below earlier
expectations," said Standard & Poor's credit analyst Bruce Hyman.


PAM GLEICHMAN: Files for Chapter 11 in Chicago
----------------------------------------------
Thomas A. Corfman at Chicago Business reports that Pam Gleichman
filed for bankruptcy under Chapter 11 in the U.S. Bankruptcy Court
in Chicago to avert a foreclosure action of two development sites
near McCormick Place: former American Book Co. building at 330 E.
Cermak Road and another property just to the west at 230 E. Cermak
Road.

According to the report, CenterPoint is seeking to collect a loan
that had a balance due of $37.1 million in February 2009, when it
filed the foreclosure suit.  CenterPoint wants the Company's
bankruptcy case dismissed.

Pam Gleichman is a property developer in Maine.


PARK WEST CIRCLE: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Park West Circle Realty, LLC
        315 W. 57th Street, LL4
        New York, NY 10019

Bankruptcy Case No.: 10-12965

Chapter 11 Petition Date: June 2, 2010

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

Judge: Arthur J. Gonzalez

Debtor's Counsel: Erica R. Feynman, Esq.
                  E-mail: efeynman@rattetlaw.com
                  Jonathan S. Pasternak, Esq.
                  E-mail: jsp@rattetlaw.com
                  Rattet, Pasternak & Gordon-Oliver, LLP
                  550 Mamaroneck Avenue
                  Harrison, NY 10528
                  Tel: (914) 381-7400
                  Fax: (914) 381-7406

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

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

A copy of the Company's list of 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nysb10-12965.pdf

The petition was signed by Dr. William Louie, managing member.


PARK WEST RADIOLOGY: Case Summary & 9 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Park West Radiology, P.C.
        315 W. 57th Street, LL4
        New York, NY 10019

Bankruptcy Case No.: 10-12966

Chapter 11 Petition Date: June 2, 2010

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

Judge: Arthur J. Gonzalez

Debtor's Counsel: Erica R. Feynman, Esq.
                  E-mail: efeynman@rattetlaw.com
                  Jonathan S. Pasternak, Esq.
                  E-mail: jsp@rattetlaw.com
                  Rattet, Pasternak & Gordon-Oliver, LLP
                  550 Mamaroneck Avenue
                  Harrison, NY 10528
                  Tel: (914) 381-7400
                  Fax: (914) 381-7406

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

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

A copy of the Company's list of 9 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nysb10-12966.pdf

The petition was signed by Dr. William Louie, president.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Park West Radiology, P.C.             10-12965            06/02/10


PAUL TRANSPORTATION: Files Schedules of Assets & Liabilities
------------------------------------------------------------
Paul Transportation Inc. filed with the U.S. Bankruptcy Court for
the Western District of Oklahoma its schedules of assets and
liabilities, disclosing:

  Name of Schedule                   Assets          Liabilities
  ----------------                   ------          -----------
A. Real Property                          $0
B. Personal Property             $38,249,443
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                     $20,701,535
E. Creditors Holding
   Unsecured Priority
   Claims                                              $1,180,238
F. Creditors Holding
   Unsecured Non-priority
   Claims                                              $1,654,070
                                 -----------           ----------
      TOTAL                      $38,249,443          $23,535,843

Enid, Oklahoma-based Paul Transportation Inc. -- dba PTI;
Trucking; Paul Transportation; Paul Transportation Systems, Inc.;
and Paul's Transportation -- filed for Chapter 11 bankruptcy
protection on May 18, 2010 (Bankr. W.D. Okla. Case No. 10-13022).
G. David Bryant, Esq.; Matthew Clay Goodin, Esq.; and Stephen W.
Elliott, Esq., at Kline, Kline, Elliott & Bryant, assist the
Company in its restructuring effort.  The Company estimated its
assets and debts at $10,000,001 to $50,000,000.


PETROFLOW ENERGY: Gets Delisting Notice from Amex & TSX
-------------------------------------------------------
Petroflow Energy Ltd. received a notice from the NYSE Amex LLC
indicating its intent to delist the Company's common stock from
the Amex effective June 4, 2010.

The Company does not intend to take any further action to appeal
the Amex's decision, and therefore it is expected that the
Company's common stock will be delisted from the Amex effective
June 4, 2010.

In its letter the Amex cited, in particular, the Company's failure
to comply with Section 1003(a)(iv) of the NYSE Amex LLC Company
Guide, in that it appeared questionable whether the Company would
be able to continue operations and/or meet its obligations as they
matured.

Further to Toronto Stock Exchange ("TSX") Bulletin # 2010-0386,
the TSX also previously determined to delist the Company's common
stock from the TSX effective at the close of market on June 2,
2010 for failure to meet the continued listing requirements of
TSX.  In its letter the TSX cited the Company's financial
condition, operating results and capital structure, among other
matters, as the basis for the delisting.

                    About Petroflow Energy

On May 25, 2010, the Company's subsidiaries, North American
Petroleum Corporation USA and Prize Petroleum, LLC, filed
voluntary petitions for relief under chapter 11 of the United
States Bankruptcy Code, in the United States Bankruptcy Court for
the District of Delaware.  The reorganization cases are being
jointly administered under the caption "In re North American
Petroleum Corporation USA, Case # 10-11707 (CSS)" (the "Chapter 11
Cases.


POSITRON CORPORATION: Posts $3.3 Million Net Loss for Q1 2010
-------------------------------------------------------------
Positorn Corporation filed its quarterly report on Form 10-Q,
reporting a net loss of $3,265,000 on $467,000 of revenue for the
three months ended March 31, 2010, compared with a net loss of
$746,000 on $367,000 of revenue for the same period ended
March 31, 2009.

The Company's balance sheet as of March 31, 2010, showed
$1,667,000 in assets and $9,147,000 of liabilities, for a
stockholders' deficit of $7,480,000.

Frank L. Sassetti & Co., in Oak Park, Illinois, expressed
substantial doubt about the Company's ability to continue as a
going concern after auditing the Company's financial statements
for the year ended December 31, 2009.  The independent auditors
noted that the Company has a significant accumulated deficit.

The Company had an accumulated deficit of $94,594,000 and a
stockholders' deficit of $7,480,000 at March 31, 2010.

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

               http://researcharchives.com/t/s?6422

Headquartered in Fishers, Indiana, Positron Corporation is a
molecular imaging company focused on Nuclear Cardiology.


PRIMROSE RESTAURANT: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Primrose Restaurant Properties, L.P.
        733 Crown Industrial Court, Suite V
        Chesterfield, MO 63005
        Tel: (816) 842-8600

Bankruptcy Case No.: 10-10711

Chapter 11 Petition Date: June 2, 2010

Court: U.S. Bankruptcy Court
       Eastern District of Missouri (Cape Girardeau)

Judge: Barry S. Schermer

Debtor's Counsel: Paul M. Hoffmann, Esq.
                  Stinson Morrison Hecker LLP
                  1201 Walnut
                  Kansas City, MO 64106-2150
                  Tel: (816) 691-2600
                  E-mail: phoffmann@stinson.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
$17,000 while debts total $6,515,303.

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/moeb10-10711.pdf

The petition was signed by Bradley F. Bax, vice president and
chief financial officer.

Debtor-affiliates that filed separate Chapter 11 petitions:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Bistate Bistro Associates, L.P.       10-10710            06/02/10
Fayetteville Bistro, LLC              --                  06/02/10


PROWEST MEDIA: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Prowest Media Corporation
        P.O. Box 1550
        Boyes Hot Springs, CA 95416

Bankruptcy Case No.: 10-12153

Chapter 11 Petition Date: June 3, 2010

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

Judge: Alan Jaroslovsky

Debtor's Counsel: David N. Chandler, Esq.
                  Law Offices of David N. Chandler
                  1747 4th St.
                  Santa Rosa, CA 95404
                  Tel: (707) 528-4331
                  E-mail: DChandler1747@yahoo.com

Scheduled Assets: $104,500

Scheduled Debts: $2,884,462

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

The petition was signed by Thomas Settle, CEO.


RCLC INC: March 31 Balance Sheet Upside-Down by $2.7-Mil.
---------------------------------------------------------
RCLC Inc. filed its quarterly report on Form 10-Q, showing a
balance sheet at March 31, 2010 of $12.6 million in total assets,
$12.8 million total current liabilities, $2.1 million in other
long-term liabilities, and $468,000 in other long-term liabilities
of discontinued operations, for a total stockholders' deficit of
$2.7 million.

The Company reported $1.9 million of net income -- due to a gain
on sale of discontinued operations -- on zero revenues for the
three month ended March 31, 2010, compared with $1.4 million net
loss with no net sales for the same period a year ago.

The Company noted that for the quarter ended March 31, 2010, it
had a loss from continuing operations of $376,000 and had a net
loss of $4,713,000 for the year ended December 31, 2009.  At
March 31, 2010, the Company had both a deficiency in working
capital and a stockholders' deficit.  In addition, the Company was
in violation of certain provisions of certain short-term and long-
term debt covenants at March 31, 2010 and December 31, 2009..

"The Company's losses and difficulty in generating sufficient cash
flow to meet its obligations and sustain its operations, as well
as existing events of default under its credit facilities raise
substantial doubt about its ability to continue as a going
concern," the Company said in its quarterly report.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?643a

                          About RCLC Inc.

RCLC, Inc., formerly known as Ronson Corporation, in Woodbridge,
New Jersey, historically, has been engaged principally in these
businesses -- Consumer Products; and Aviation-Fixed Wing and
Helicopter Services.


RELIGIOUS AND CELESTE: Case Summary & 6 Largest Unsec Creditors
---------------------------------------------------------------
Debtor: Religious and Celeste, LLC
        No. 4 Versailles
        New Orleans, LA 70125

Bankruptcy Case No.: 10-11958

Chapter 11 Petition Date: June 2, 2010

Court: United States Bankruptcy Court
       Eastern District of Louisiana (New Orleans)

Judge: Jerry A. Brown

Debtor's Counsel: Robin B. Cheatham, Esq.
                  Adams & Reese LLP
                  One Shell Square
                  701 Poydras Street, Suite 4500
                  New Orleans, LA 70139
                  Tel: (504) 581-3234
                  Fax: (504) 566-0210
                  E-mail: cheathamrb@arlaw.com

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

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/laeb10-11958.pdf

The petition was signed by Robert L. Armbruster, Jr. managing
member of ABNA, LLC.


RENAISSANT LAFAYETTE: In Talks with Giuffre for Sale of Assets
--------------------------------------------------------------
Tom Daykin of the Journal Sentinel reports that Renaissant
Lafayette LLC said it is in talks with Milwaukee developer Frank
Giuffre for the sale of Park Lafayette condominium.

The report also relates that Renaissant Lafayette is closing on a
settlement with its secured lender.  Amalgamated, which filed a
foreclosure suit that prompted the bankruptcy filing, is owed
$102.8 million, and the debt is secured by Park Lafayette and
other Renaissant property, valued at $61.3 million, according to
court records.  Under the deal, the foreclosure suit filed by
Amalgamated Bank against the Company will be dismissed.

                  About Renaissant Lafayette LLC

Oak Brook, Illinois-based Renaissant Lafayette LLC is the owner of
a 280-unit luxury condominium development in Milwaukee named Park
Lafayette.  The project is at the intersection of North Prospect
Avenue and Lafayette Place in Milwaukee.  So far, 39 units were
sold.

The Company filed for Chapter 11 bankruptcy protection on December
23, 2009 (Bankr. E.D. Wis. Case No. 09-38166).  Forrest B.
Lammiman, Esq., at Meltzer, Purtill & Stelle LLC, assists 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.


RICHARD KNOWLES: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Joint Debtors: Richard E. Knowles
                 dba Knowles Property Management
               Ann Knowles
               P.O. Box 219
               Plymouth, NH 03264

Bankruptcy Case No.: 10-12476

Chapter 11 Petition Date: June 3, 2010

Court: U.S. Bankruptcy Court
       District of New Hampshire (Manchester)

Judge: Mark W. Vaughn

Debtor's Counsel: Marc L. Van De Water, Esq.
                  Van De Water Law Offices, P.L.L.C.
                  44 Albin Road
                  Bow, NH 03304
                  Tel: (603) 647-5444
                  Fax: (603) 624-7766
                  E-mail: lawyer@vlawusa.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 20 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/nhb10-12476.pdf

The petition was signed by the Joint Debtors.


ROYSE CITY: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: Royse City Hospitality, LLC
          dba Holiday Inn Express Hotel & Suites
        438 Cave River Drive
        Murphy, TX 75094

Bankruptcy Case No.: 10-41838

Chapter 11 Petition Date: June 2, 2010

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

Debtor's Counsel: Arthur I. Ungerman, Esq.
                  Arthur I. Ungerman, Attorney at Law
                  8140 Walnut Hill Lane, Suite 301
                  Dallas, TX 75231
                  Tel: (972)239-9055
                  Fax: (972)239-9886
                  E-mail: arthur@arthurungerman.com

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

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

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

The petition was signed by Manpreet Singh, managing member.


RSF PROPERTIES: Case Summary & 2 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: RSF Properties, LLC
        1355 Greenwood Cliff Drive
        The Watermark Condominium, Units 300 and 400
        Charlotte, NC 28204

Bankruptcy Case No.: 10-31554

Chapter 11 Petition Date: June 2, 2010

Court: U.S. Bankruptcy Court
       Western District of North Carolina (Charlotte)

Judge: George R. Hodges

Debtor's Counsel: Travis W. Moon, Esq.
                  Hamilton Moon Stephens Steele Martin
                  2020 Charlotte Plaza
                  201 S. College Street
                  Charlotte, NC 28244-2020
                  Tel: (704) 344-1117
                  E-mail: tmoon@lawhms.com

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

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

A copy of the Company's list of 2 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ncwb10-31554.pdf

The petition was signed by Ray S. Farris III, manager.


RYLAND GROUP: Posts $14.3 Million Net Loss in Qtr. Ended March 31
-----------------------------------------------------------------
For the three months ended March 31, 2010, The Ryland Group Inc.
reported a consolidated net loss of $14.3 million, or $0.33 per
diluted share, compared to a consolidated net loss of $75.3
million, or $1.76 per diluted share, for the same period in 2009.
The decrease in loss for 2010, compared to 2009, was primarily due
to lower inventory and other valuation adjustments and write-offs,
an increase in gross profit margins and to a decrease in selling,
general and administrative expense, partially offset by declines
in closings and home prices, as well as higher interest expense.

The Company's revenues totaled $250.8 million for the first
quarter of 2010, compared to $265.2 million for the first quarter
of 2009, a decline of $14.5 million, or 5.5 percent. This decrease
was primarily attributable to declines in closings and average
closing price. Revenues for the homebuilding and financial
services segments were $241.9 million and $8.9 million,
respectively, for the first quarter of 2010, compared to $259.0
million and $6.3 million, respectively, for the same period in
2009.

A full-text copy of the Company's Form 10-Q filed with the
Securities and Exchange Commission is available for free at:

              http://ResearchArchives.com/t/s?645b

                        About Ryland Group

Headquartered in Calabasas, California, The Ryland Group, Inc.
(NYSE: RYL) -- http://www.ryland.com/-- is one of the nation's
largest homebuilders and a leading mortgage-finance company.
Since its founding in 1967, Ryland has built more than 285,000
homes and financed more than 240,000 mortgages.  The Company
currently operates in 15 states and 19 homebuilding divisions
across the country and is listed on the New York Stock Exchange
under the symbol "RYL."

Ryland posted its third consecutive annual net loss, reporting
$162,474,000 net loss for 2009, $396,585,000 for 2008, and
$333,526,000 for 2007.

As of March 31, 2010, the Company had $1.7 billion in total
assets and $1.1 billion in total liabilities, resulting in
$639.2 million in stockholders' equity.

                           *     *      *

Ryland Group carries Moody's "Ba3" corporate family rating, "Ba3"
probability of default rating, "Ba3" senior unsecured notes
rating, and "SGL-2" speculative grade liquidity rating.  Ryland
Group carries Standard & Poor's Ratings Services' 'BB-' corporate
credit and senior unsecured note ratings.


RYNO MATERIALS: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Ryno Materials, Inc.
        8636 CR 1219
        Princeton, TX 75407

Bankruptcy Case No.: 10-41836

Chapter 11 Petition Date: June 2, 2010

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

Judge: Brenda T. Rhoades

Debtor's Counsel: Eric A. Liepins, Esq.
                  12770 Coit Road, Suite 1100
                  Dallas, TX 75251
                  Tel: (972) 991-5591
                  E-mail: eric@ealpc.com

Estimated Assets: $0 to $50,000

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

A copy of the Company's list of 20 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/txeb10-41836.pdf

The petition was signed by Jon Jeff Ryno, president.


SAINT VINCENTS: Insists on Terms of Grant as Crisis Managers
------------------------------------------------------------
Pursuant to Sections 327(a) and 1107 of the Bankruptcy Code, St.
Vincents Catholic Medical Centers and its units received interim
approval to employ Kramer Levin Naftalis & Frankel LLP as their
counsel nunc pro tunc to April 14, 2010.

The Debtors propose to pay Kramer Levin based on the firm's
current hourly rates.  At present, the rates of Kramer Levin
professionals are:

  Title                     Rate/Hour
  -----                     ---------
  Partners                  $645-$975
  Counsel                   $685-$1,025
  Special counsel           $630-$720
  Associates                $390-$710
  Legal Assistants          $240-$290

The Debtors aver that the compensation structure outlined in the
retention application of Grant Thornton LLP is well within the
range of reasonableness and should be approved.

The Debtors assert that contrary to the insinuations of the U.S.
Trustee, the terms of the retainer was clearly delineated in the
Retention Application and no effort was made to disguise the
retainer from the Court, the U.S. Trustee, or the Debtors'
creditors.

Thus, the Debtors ask the Court to overrule the U.S. Trustee's
objection because:

  (i) retainers are an appropriate and well-recognized form of
      compensation for professionals in chapter 11 cases, and
      retainers of this nature have been approved in other
      cases;

(ii) Grant Thornton will be prejudiced if the structure of the
      retainer is altered after the Carve-Out and Budget
      negotiated in connection with the Debtors' post-petition
      financing have already been finalized;

(iii) the purpose of the retainer will be undermined, if not
      entirely vitiated, if Grant Thornton is required to apply
      the retainer at the outset of these cases;

(iv) neither the DIP Lenders, the Official Committee of
      Unsecured Creditors, nor any other creditors have objected
      to the retainer; and

  (v) to the extent applicable, the relevant factors that courts
      consider in approving "evergreen" retainers are satisfied.

         About Saint Vincents Catholic Medical Centers

St. Vincents Catholic Medical Centers returned to bankruptcy court
by filing another Chapter 11 petition April 14, 2010, in New York
(Bankr. S.D.N.Y. Case No. 10-11963).  The new petition listed
assets of $348 million against debt totaling $1.09 billion.

Adam C. Rogoff, Esq., and Kenneth H. Eckstein, Esq., at Kramer
Levin Naftalis & Frankel LLP, represent the Debtor in its Chapter
11 effort.

Although the hospitals emerged from the prior reorganization in
July 2007 with a Chapter 11 plan said to have a "a realistic
chance" of paying all creditors in full, the bankruptcy left the
medical center with more than $1 billion in debt.  The new filing
occurred after a $64 million operating loss in 2009 and the last
potential buyer terminated discussions for taking over the
flagship hospital.

Saint Vincents Catholic Medical Centers -- http://www.svcmc.org/-
- is anchored by St. Vincent's Hospital Manhattan, an academic
medical center located in Greenwich Village and the only emergency
room on the Westside of Manhattan from Midtown to Tribeca, St.
Vincent's Westchester, a behavioral health hospital in Westchester
County, and continuing care services that include two skilled
nursing facilities in Brooklyn, another on Staten Island, a
hospice, and a home health agency serving the Metropolitan New
York area.

Saint Vincent Catholic Medical Centers of New York and six of its
affiliates first filed for Chapter 11 protection on July 5, 2005
(Bankr. S.D.N.Y. Case No. 05-14945 through 05-14951).


SAINT VINCENTS: Panel Wins Nod to Tap Akin Gump as Counsel
----------------------------------------------------------
The Official Committee of Unsecured Creditors in St. Vincents
Catholic Medical Centers' cases wont the Court's authority to
retain Akin Gump Strauss Hauer & Feld LLP as its counsel nunc pro
tunc to April 21, 2010.

As counsel, Akin Gump will:

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

  (b) assist and advise the Committee in its consultations with
      the Debtors relative to the administration of their
      Chapter 11 cases;

  (c) assist the Committee in analyzing the claims of the
      Debtors' creditors and the Debtors' capital structure and
      in negotiating with holders of claims and equity
      interests;

  (d) assist the Committee in its investigation of the acts,
      conduct, assets, liabilities and financial condition of
      the Debtors and of the operation of the Debtors'
      businesses;

  (e) assist the Committee in its analysis of, and negotiations
      with, the Debtors or any third party concerning matters
      related to, among other things, the assumption or
      rejection of certain leases of non-residential real
      property and executory contracts, asset dispositions,
      financing of other transactions and the terms of one or
      more plans of reorganization for the Debtors and
      accompanying disclosure statements and related plan
      documents;

  (f) assist and advise the Committee as to its communications
      to the general creditor body regarding significant matters
      in the Chapter 11 cases;

  (g) represent the Committee at all hearings and other
      proceedings before the Court;

  (h) review and analyze applications, orders, statements of
      operations and schedules filed with the Court and advise
      the Committee as to their propriety, and to the extent
      deemed appropriate by the Committee support, join or
      object thereto;

  (i) advise and assist the Committee with respect to any
      legislative, regulatory or governmental activities;

  (j) assist the Committee in preparing pleadings and
      applications as may be necessary in furtherance of the
      Committee's interests and objectives;

  (k) assist the Committee in its review and analysis of all of
      the Debtors' various agreements;

  (l) prepare, on behalf of the Committee, any pleadings,
      including without limitation, motions, memoranda,
      complaints, adversary complaints, objections or comments
      in connection with any matter related to the Debtors or
      their Chapter 11 cases;

  (m) investigate and analyze any claims against the Debtors'
      non-debtor affiliates; and

  (n) perform other legal services as may be required or are
      otherwise deemed to be in the interests of the Committee
      in accordance with the Committee's powers and duties as
      set forth in the Bankruptcy Code, Bankruptcy Rules or
      other applicable law.

The Committee has selected Akin Gump because of the firm's
extensive knowledge and expertise in the areas of law relevant to
the Debtors' Chapter 11 cases.

The Debtors will pay Akin Gump in accordance with the firm's
current hourly rates:

  Billing Category                Range
  ----------------            -----------
  Partners                    $525-$1,150
  Senior Counsel and Counsel  $475-$835
  Associates                  $325-$600
  Paraprofessionals           $125-$290

The current hourly rates of the Akin Gump attorneys currently
expected to have primary responsibility for providing services to
the Committee are:

    Professional                Designation        Rate/Hour
    ------------                -----------        ---------
    David H. Botter, Esq.       Partner              $875
    Sarah Link Schultz, Esq.    Partner              $640
    Kenneth A. Davis, Esq.      Senior Counsel       $675
    Ashleigh L. Blaylock, Esq.  Associate            $430
    Russell L. Wininger, Esq.   Associate            $350
    Kristen Howard, Esq.        Associate            $325

The Debtors will also pay Akin Gump for its out-of-pocket
expenses.

         About Saint Vincents Catholic Medical Centers

St. Vincents Catholic Medical Centers returned to bankruptcy court
by filing another Chapter 11 petition April 14, 2010, in New York
(Bankr. S.D.N.Y. Case No. 10-11963).  The new petition listed
assets of $348 million against debt totaling $1.09 billion.

Adam C. Rogoff, Esq., and Kenneth H. Eckstein, Esq., at Kramer
Levin Naftalis & Frankel LLP, represent the Debtor in its Chapter
11 effort.

Although the hospitals emerged from the prior reorganization in
July 2007 with a Chapter 11 plan said to have a "a realistic
chance" of paying all creditors in full, the bankruptcy left the
medical center with more than $1 billion in debt.  The new filing
occurred after a $64 million operating loss in 2009 and the last
potential buyer terminated discussions for taking over the
flagship hospital.

Saint Vincents Catholic Medical Centers -- http://www.svcmc.org/-
- is anchored by St. Vincent's Hospital Manhattan, an academic
medical center located in Greenwich Village and the only emergency
room on the Westside of Manhattan from Midtown to Tribeca, St.
Vincent's Westchester, a behavioral health hospital in Westchester
County, and continuing care services that include two skilled
nursing facilities in Brooklyn, another on Staten Island, a
hospice, and a home health agency serving the Metropolitan New
York area.

Saint Vincent Catholic Medical Centers of New York and six of its
affiliates first filed for Chapter 11 protection on July 5, 2005
(Bankr. S.D.N.Y. Case No. 05-14945 through 05-14951).


SAINT VINCENTS: Wins Nod to Employ Togut as Conflicts Counsel
-------------------------------------------------------------
Saint Vincents Catholic Medical Centers of New York and its debtor
affiliates obtained the Court's authority to employ Togut, Segal &
Seal LLP as their conflicts counsel.  The Debtors believe that the
firm is uniquely qualified to represent them having represented as
conflicts counsel during their first chapter 11 case filed in July
2005.

The Debtors propose to pay Togut Segal in accordance with its
current and customary hourly rates:

  Partners                    $800-$935
  Associates and counsel      $275-$720
  Paralegals and law clerks   $155-$285

The Debtors also propose reimburse Togut Segal for its expenses
including, among other things, telecopier charges, mail and
express mail charges, special or hand delivery charges, document
processing, photocopying and travel expenses.

          About Saint Vincents Catholic Medical Centers

St. Vincents Catholic Medical Centers returned to bankruptcy court
by filing another Chapter 11 petition April 14, 2010, in New York
(Bankr. S.D.N.Y. Case No. 10-11963).  The new petition listed
assets of $348 million against debt totaling $1.09 billion.

Adam C. Rogoff, Esq., and Kenneth H. Eckstein, Esq., at Kramer
Levin Naftalis & Frankel LLP, represent the Debtor in its Chapter
11 effort.

Although the hospitals emerged from the prior reorganization in
July 2007 with a Chapter 11 plan said to have a "a realistic
chance" of paying all creditors in full, the bankruptcy left the
medical center with more than $1 billion in debt.  The new filing
occurred after a $64 million operating loss in 2009 and the last
potential buyer terminated discussions for taking over the
flagship hospital.

Saint Vincents Catholic Medical Centers -- http://www.svcmc.org/-
- is anchored by St. Vincent's Hospital Manhattan, an academic
medical center located in Greenwich Village and the only emergency
room on the Westside of Manhattan from Midtown to Tribeca, St.
Vincent's Westchester, a behavioral health hospital in Westchester
County, and continuing care services that include two skilled
nursing facilities in Brooklyn, another on Staten Island, a
hospice, and a home health agency serving the Metropolitan New
York area.

Saint Vincent Catholic Medical Centers of New York and six of its
affiliates first filed for Chapter 11 protection on July 5, 2005
(Bankr. S.D.N.Y. Case No. 05-14945 through 05-14951).


SAND HILL: Asks for Court's Permission to Use Cash Collateral
-------------------------------------------------------------
Sand Hill Foundation, LLC, et al., seek authorization from the
U.S. Bankruptcy Court for the Eastern District of Texas to use the
cash collateral securing their obligation to their prepetition
lenders.

The Debtors request interim authorization to use revenues obtained
through operations.  These revenues could constitute alleged cash
collateral.

The Debtors have entered into several commercial security
agreements with Sabine State Bank & Trust Co. whereby Sabine State
Bank & Trust Co. was granted security interests in accounts,
rents, moneys, payments, general intangibles and proceeds
therefrom.  Debtor Sand Hill Foundation, LLC entered into a
Factoring Agreement with Security Agreement with Power Funding,
Ltd., whereby Power Funding, Ltd., was granted a security interest
in inter alia accounts, proceeds from the accounts, deposit
accounts, general intangibles and proceeds therefrom.

Sabine State Bank & Trust Co. and Power Funding, Ltd., claim or
could claim an interest in the revenue associated with the
Debtors' operations.

Jeffrey Wells Oppel, Esq., at Oppel, Goldberg & Williams,
P.L.L.C., the attorney for the Debtors, explains 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/SAND_HILL_budget.pdf

The Debtors believe that with the inflation of oil and gas prices,
that their assets are currently worth in excess of $10 million.
Accordingly, the Debtors believe that the secured creditors are
adequately protected by its significant equity cushion.  To the
extent, however, the Court believes that more adequate assurance
should be provided to the secured creditors, the Debtors are
willing to provide adequate assurance as the Court deems
necessary, including but not limited to, replacement liens in the
Debtors' property acquired postpetition.

Center, Texas-based Sand Hill Foundation, LLC, filed for Chapter
11 bankruptcy protection on 10-90209 (Bankr. E.D. Tex. Case No.
10-90209).  Jeffrey Wells Oppel, Esq., at Oppel, Goldberg & Saenz
P.L.L.C., assists the Company in its restructuring effort.  The
Company estimated its assets and debts at $10,000,001 to
$50,000,000.


SECUREALERT INC: Seeks Shareholders' OK to Issue 600 Mil. Shares
----------------------------------------------------------------
David G. Derrick, CEO and Chairman of SecureAlert, Inc., formerly,
RemoteMDx, Inc., says the Company is soliciting shareholders'
consent to approve the terms of a proposed amendment to the
Company's Articles of Incorporation to increase the number of
authorized shares of common stock from 250,000,000 shares to
600,000,000 shares, par value $0.0001 per share.

The Board of Directors is seeking shareholder approval of the
Amendment by written consent, rather than by calling a special
meeting of shareholders.

There will be no change to the authorized shares of Preferred
Stock of the Company.

The Board has approved the Amendment, subject to obtaining the
approval of the holders of a majority of the shares entitled to
vote on the Amendment and is recommending that all shareholders of
the Company, including common shareholders as a class and
preferred shareholders as a class, approve the Amendment.
Shareholders of record at the close of business on May 10, 2010,
are entitled to receive notice of and to vote on the Consent
Solicitation.

The Board considers the increase in authorized shares desirable to
provide maximum flexibility with respect to the Company's ability
to augment its capital in the near future, and to provide greater
flexibility for declaration of stock dividends and for other
proper corporate purposes in the long term.  In addition, the
Company currently has outstanding warrants and convertible debt
and equity instruments, including its Series D Convertible
Preferred Stock.  The increase in authorized shares is necessary
to permit the Company to adequately reserve a sufficient number of
shares of Common Stock to permit the eventual exercise of these
warrants and conversion rights.

A full-text copy of the Consent Solicitation Statement is
available at no charge at http://ResearchArchives.com/t/s?6434

The Amendment will only be adopted following the approval of all
classes of shareholders holding a majority of the shares entitled
to vote on the Amendment as of the close of business on the Record
Date.  Failure to vote will have the same effect as a vote against
the Amendment.

On May 25, 2010, the Company said that as reported in its
Quarterly Report on Form 10-Q for the quarter ended March 31, 2009
(Part II, Item 4), filed with the Securities and Exchange
Commission on May 18, 2009, the Company amended its Articles of
Incorporation and filed the amendment with the State of Utah
Department of Commerce Division of Corporation and Commercial Code
effective March 5, 2009, to increase the number of authorized
shares of common stock from 175,000,000 to 250,000,000.  The
amendment was approved by shareholders' consent.  Shareholders
holding a total of 92,775,909 shares (approximately 58% of the
total issued and outstanding shares of the Company at the time the
consents were obtained) submitted written consents approving the
amendment.  The consents were obtained without a meeting pursuant
to a proxy solicitation distributed by the Company.

On May 4, 2010, the Company filed with the Commission Articles of
Correction to the Designation of Rights and Preferences of Series
D Convertible Preferred Stock to correct a typographical error in
the original as filed on December 3, 2009.  The Company
inadvertently omitted including a copy of the Amendment as an
exhibit to its Quarterly Report.  Under Utah law, the correction
is effective December 9, 2009, the effective date of the original
Amendment.

On May 4, 2010, effective April 1, 2010, the Company executed an
agreement to extend the option period for the purchase of the
remaining minority ownership interest of its subsidiary
corporation, Midwest Monitoring & Surveillance, Inc., a Minnesota
corporation.  The agreement was entered into by the Company and
the minority shareholders of MM&S to extend the option period to
March 31, 2011.  As consideration for the extension of the option
period for the additional 12 months, the Company paid a fee (to be
credited against the purchase price for the remaining shares of
MM&S) by issuing 150,000 restricted shares of the Company's
authorized and previously unissued common stock and waived the
payment of $10,000 owed to registrant by MM&S.  In addition, the
Company agreed to make cash payments to the sellers totaling
$144,000 in equal installments over a 12-month period.  In
consideration of the payments of cash and stock, the Company was
issued additional shares of MM&S common stock increasing its total
ownership interest in MM&S to 53.145%.

                         About SecureAlert

Headquartered in Sandy, Utah, SecureAlert, Inc. (formerly
RemoteMDx, Inc.) (OTC BB: RMDX) -- http://www.securealert.com/--
and subsidiaries market and deploy offender management programs,
combining patented GPS tracking technologies, fulltime 24/7/365
intervention-based monitoring capabilities and case management
services.

The Company's balance sheet as of March 31, 2010, showed
$13,210,763 in assets, $9,367,296 of liabilities, and $3,843,467
of stockholders' equity.

                          *     *     *

As reported in the Troubled Company Reporter on January 18, 2010,
Hansen, Barnett & Maxwell, P.C., in Salt Lake City, expressed
substantial doubt about RemoteMDx, Inc., and subsidiaries' ability
to continue as a going concern after auditing the Company's
consolidated financial statements as of and for the years ended
September 30, 2009, and 2008.  The independent public accounting
firm reported that the Company has incurred losses and has an
accumulated deficit.


SENAL JAYAMAHA: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Joint Debtors: Senal Jayamaha
               aka Fusionize, Inc.
               Janice Lee Jayamaha
               14188 Perata Court
               Saratoga, CA 95070

Bankruptcy Case No.: 10-55841

Chapter 11 Petition Date: June 3, 2010

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

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

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

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

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

The petition was signed by Senal Jayamaha and Janice Lee Jayamaha.


SEQUENOM INC: Settles Derivative Litigation
-------------------------------------------
Sequenom Inc. filed an actual notice pendency of settlement of
derivative litigation to the Hon. Larry A. Burns of the U.S.
District Court for the Southern District of California.  The
litigation has been brought derivatively on behalf of the Company
to remedy the alleged harm caused to the Company by certain
individual's alleged violations of federal and state law and
breaches of fiduciary duties.

A final hearing will be held on July 12, 2010, at 11:15 a.m., to
determine:

     i) whether the proposed Settlement of the Litigation, upon
        the terms set forth in the Stipulation, should be finally
        approved in all respects as fair, reasonable, and adequate
        to Sequenom and Current Sequenom Shareholders;

    ii) whether the Final Order and Judgment approving the
        Settlement should be entered; and

   iii) whether plaintiffs' Counsel's agreed-to Fee Award should
        be finally approved.

A full-text copy of the Company's notice is available for free
at http://ResearchArchives.com/t/s?6404

                         About Sequenom

Sequenom, Inc. (NASDAQ: SQNM) -- http://www.sequenom.com/-- is a
life sciences company committed to improving healthcare through
revolutionary genetic analysis solutions. Sequenom develops
innovative technology, products and diagnostic tests that target
and serve discovery and clinical research, and molecular
diagnostics markets. The company was founded in 1994 and is
headquartered in San Diego, California.

The Company's balance sheet for March 31, 2010, showed
$70.6 million total assets and $15.5 million total current
liabilities, for a $50.0 million stockholders' equity.

Ernst & Young LLP of San Diego, California, has expressed
substantial doubt against Sequenom's ability as a going concern.
The auditor noted that the Company has incurred recurring
operating losses and does not have sufficient working capital to
fund operations through 2010.


SHANE PERRY: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Joint Debtors: Shane E. Perry
               dba Perry and Associates
               fdba Perry Financial
               fdba Perrydise, Inc.
               P.O. Box 19
               Shaver Lake, CA 93664

               Dannene L. Perry
               dba Perry and Associates
               fdba Perry Financial
               fdba Perrydise, Inc.
               2981 Wrenwood
               Clovis, CA 93611

Bankruptcy Case No.: 10-16295

Chapter 11 Petition Date: June 3, 2010

Court: United States Bankruptcy Court
       Eastern District of California (Fresno)

Judge: W. Richard Lee

Debtor's Counsel: Riley C. Walter, Esq.
                  8305 N Fresno St #410
                  Fresno, CA 93720
                  Tel: (559) 435-9800

Scheduled Assets: $939,220

Scheduled Debts: $4,308,623

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/caeb10-16295.pdf

The petition was signed by Shane E. Perry and Dannene L. Perry.


SHARON NELSON: Case Summary & 31 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Sharon Lavone Nelson
        dba Jones Discount Center
        4737 N.Williams Ave.
        La Verne, CA 91750

Bankruptcy Case No.: 10-32501

Chapter 11 Petition Date: June 2, 2010

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

Judge: Samuel L. Bufford

Debtor's Counsel: Michael R. Totaro, Esq.
                  Totaro & Shanahan
                  P.O. Box 789
                  Pacific Palisades, CA 90272
                  Tel: (310) 573-0276
                  Fax: (310) 496-1260
                  E-mail: mtotaro@aol.com

Scheduled Assets: $1,074,670

Scheduled Debts: $982,934

A list of the Company's 31 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-32501.pdf

The petition was signed by Sharon Lavone Nelson.


SIRIUS XM: Reports Results of May 27 Stockholders Meeting
---------------------------------------------------------
Sirius XM Radio Inc. on May 27, 2010, held its annual meeting of
stockholders.  At the annual meeting, the holders of the Company's
common stock and Series A Convertible Preferred Stock, voting
together as a single class, elected these persons as common stock
directors:

     * Joan L. Amble;
     * Leon D. Black;
     * Lawrence F. Gilberti;
     * Eddy W. Hartenstein;
     * James P. Holden;
     * Mel Karmazin;
     * James F. Mooney; and
     * Jack Shaw

The Company's Convertible Perpetual Preferred Stock, Series B-1,
does not have the right to vote with the holders of the common
stock and Series A Convertible Preferred Stock on the election of
common stock directors. The holder of the Series B-1 Preferred
Stock is entitled to designate and elect members of the board of
directors pursuant to the Certificate of Designations of the
Series B-1 Preferred Stock. Currently, the holder of the Series B-
1 Preferred Stock has designated John C. Malone, Gregory B. Maffei
and David J.A. Flowers to serve as members of the board of
directors until their successors are duly elected and qualified.

The holders of the common stock, Series A Convertible Preferred
Stock and Series B-1 Preferred Stock, voting together as a single
class, approved a short-term rights plan designed to preserve
certain potential tax benefits.

The holders of common stock, Series A Convertible Preferred Stock
and Series B-1 Preferred Stock, voting together as a single class,
and the holders of common stock, voting as a separate class, also
approved an amendment to the Company's certificate of
incorporation to (i) effect a reverse stock split of the common
stock by a ratio of not less than 1-for-2 and not more than 1-for-
25 at any time prior to June 30, 2011, with the exact ratio to be
set at a whole number within this range to be determined by the
board of directors in its discretion, and (ii) reduce the number
of authorized shares of common stock as set forth in the Proxy
Statement.

The holders of common stock, Series A Convertible Preferred Stock
and Series B-1 Preferred Stock, voting together as a single class,
ratified the appointment of KPMG LLP as independent registered
public accountants.

                       About Sirius XM Radio

Based in New York, Sirius XM Radio Inc. has two principal wholly
owned subsidiaries, XM Satellite Radio Holdings Inc. and Satellite
CD Radio Inc.  XM Satellite Radio Holdings Inc. owns XM Satellite
Radio Inc., the operating company for the XM satellite radio
service.  Satellite CD Radio Inc. owns the Federal Communications
Commission license associated with the SIRIUS satellite radio
service.  XM Satellite Radio Inc. owns XM Radio Inc., the holder
of the FCC license associated with the XM satellite radio service.

In July 2008, the Company's wholly owned subsidiary, Vernon Merger
Corporation, merged with and into XM Satellite Radio Holdings Inc.
and, as a result, XM Satellite Radio Holdings Inc. became Sirius'
wholly owned subsidiary.

The Company's balance sheet at March 31, 2010, shows $7.7 billion
in total assets and $7.5 in billion total liabilities, for a
$152.0 million of total stockholders' equity.

                           *     *     *

Sirius carries (i) a 'B' corporate credit rating from Standard &
Poor's and (ii) 'Caa1' corporate family rating and 'B3'
probability of default rating from Moody's.


SMURFIT-STONE: Proposes Settlement with Equity Holders
------------------------------------------------------
Smurfit-Stone Container Corp. and its units seek:

  -- the Court's approval of the terms of their settlement
     agreement with the Official Committee of Unsecured
     Creditors, Mariner Investment Group LLC and Senator
     Investment Group LP, and Fir Tree, Inc., and P. Schoenfeld
     Asset Management LP;

  -- authority from the Court to make certain modifications to
     the Chapter 11 Plan of Reorganization to implement the
     terms of the Equity Settlement; and

  -- a Court-finding that the Plan Modifications (a) are non-
     material modifications to the Plan or (b) to the extent the
     Court finds that the Plan Modifications are material,
     satisfy the requirements of Section 1127 of the Bankruptcy
     Code pertaining to material modifications of a Plan.

According to James F. Conlan, Esq., at Sidley Austin LLP, in
Chicago, Illinois, the Equity Settlement resolves the Equity
Objectors' objections to the Plan.

The high-level economic terms of the Equity Settlement are:

  * subject to certain adjustments, the General Unsecured
    Creditors of Debtor Smurfit-Stone Container Enterprises will
    receive 95.5% of the New SSCC Common Stock pool, decreased
    from 100% of the New SSCC Common Stock pool under the
    existing Plan;

  * subject to certain adjustments, the holders of SSCC
    Preferred Interests and SSCC Common Interests will receive
    the remaining 4.5% of the New SSCC Common Stock Pool, with
    2.25% allocated to the Holders of SSCC Preferred Interests
    in Class 1F and 2.25% allocated to the Holders of SSCC
    Preferred Interests in Class 1G.  In addition, the Debtors
    will reimburse the Equity Objectors, in cash, for the
    reasonable and actual professional fees and expenses
    incurred by the Equity Objectors up to an aggregate limit of
    $7.5 million; and

  * the General Unsecured Claims filed or scheduled against SSCC
    will be classified and treated as General Unsecured Claims
    against SSCE and share pro rata in the 95.5% of the New SSCC
    Common Stock Pool allocated to General Unsecured Claims
    against SSCE.  The Claims previously filed or scheduled
    against SSCC will comprise significantly less than one-
    percent of the SSCE General Unsecured Claims Class.

  * the Debtors will reimburse Mariner and Senator, in cash, for
    the reasonable and actual fees and expenses incurred in
    connection with the Chapter 11 Cases through the effective
    date of the Plan.  The Debtors will also reimburse Fir Tree
    and P. Schoenfeld, in cash, for reasonable and actual fees
    and expenses in connection with the Chapter 11 cases through
    the Plan's Effective Date, provided that the total amount
    will not exceed $7.5 million, less the amount paid to
    reimburse Mariner and Senator.  The Debtors' reimbursement
    of legal fees and expenses to the Equity Objectors will not
    exceed $7.5 million in the aggregate.  The reimbursement of
    the fees and expenses is conditioned upon (a) receipt by the
    Debtors and the Creditors' Committee of (i) engagement
    letters for the professionals retained and (ii) invoices
    with supporting detail and (b) a good faith review of the
    those items by the Debtors and the Committee;

  * Section 12.15 of the Plan will be modified with this
    provision:

      "Subject to Section 1127 of the Bankruptcy Code and
       applicable provisions of the CCAA, the Debtors may alter,
       amend, modify or supplement the Plan, Plan Supplement or
       the Exhibits at any time prior to or after the
       Confirmation Date but prior to the Substantial
       Consummation of the Plan.  A Holder of a Claim or
       Interest that has accepted the Plan shall be deemed to
       have accepted the Plan, as altered, amended, modified or
       supplemented, if the proposed alteration, amendment,
       modification or supplement does not materially and
       adversely change the treatment of the Claim or Interest
       of such Holder; provided, however, that any amendment or
       modification of the Plan that modifies the form of
       consideration provided in Section 3.3.5(b) of this Plan
       or affects the New SSCC Common Stock Class IF or 1G Pools
       or Sections 10.2.7, 12.11.2 or 12.11.3 of this Plan shall
       require the prior written consent of the members holding
       the majority of the Interests held by the Ad Hoc Group of
       Preferred Holders and the Ad Hoc Group of Common Holders,
       respectively; provided, however, further, that

          (x) so long as Class 1F bears no more than its pro
              rata share of the cost of such amendment or
              modification, the Ad Hoc Group of Preferred
              Holders' consent shall not be required,

          (y) so long as Class 1G bears no more than its pro
              rata share of the cost of such amendment or
              modification, the Ad Hoc Group of Common Holders'
              consent shall not be required, and

          (z) so long as Class 2E bears no more than its pro
              rata share of the cost of such amendment or
              modification, the consent of the Committee shall
              not be required."

       "Pro rata share" in this provision shall be calculated
       based on the 2.25%, 2.25% and 95.5% allocation of New
       SSCC Common Stock to Classes 1F, 1G and 2E.  Nothing in
       this provision will prevent any of the Ad Hoc Group of
       Preferred Holders, the Ad Hoc Group of Common Holders or
       the Committee from consenting to a Plan modification or
       amendment in which their Class 1F, 1G or 2E bears more
       than its pro rata share in order to dispense with the
       need to obtain the consent of any of the others.

  * Equity Holders will not sell their Interests unless
    purchasers agree to assume their obligations under the
    Equity Settlement.

In addition, the Creditors' Committee retains the right to
terminate the Equity Settlement if the General Unsecured Claims
against SSCC which are either Allowed or with respect to which a
reserve must be taken exceed $8 million.  The Equity Settlement
further provides that if (i) a re-solicitation of votes to accept
or reject the Modified Plan is required or directed by the Court
or (ii) the exit financing commitments terminate by their own
terms due to expiration of time, then any Settling Party may void
the Equity Settlement.  If a Settling Party decides to void the
Equity Settlement, that party must deliver to counsel to each
other Settling Party a writing stating its decision to void the
Equity Settlement (i) within 24 hours of the Court's decision to
order a re-solicitation or (ii) by close of business on the
second Business Day after the exit financing commitments
terminate by their own terms due to expiration of time, in which
case the Equity Settlement will be voided and deemed to have no
probative value.

Mr. Conlan contends that the Equity Settlement and related Plan
Modifications adversely impact only Class 2E under the Plan,
which is the SSCE General Unsecured Claims Class.  He asserts
that the Plan Modifications do not materially affect Class 2E
creditors, and Class 2E creditors who voted to accept the
existing Plan should be deemed to accept the Plan as modified by
the Plan Modifications.

In line with this, the Debtors submitted a redlined copy of a new
Chapter 11 Plan reflecting the terms of the Equity Settlement.  A
copy of the New Modified Plan is available for free at:

          http://bankrupt.com/misc/Smrft5-26PlnRed.pdf

Subsequently, the Debtors submitted a redline of Section 12.15 of
the Plan that was further modified to add the provision that the
Debtors may alter or supplement the Plan or its exhibits at any
time prior to or after the Confirmation Date but prior to the
Plan's substantial consummation.  A copy of the further redlined
page is available for free at:

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

In addition to providing notice of their request to approve the
Equity Settlement and the Plan Modifications to the Class 2E
creditors, the Debtors will provide affected creditors with the
opportunity to change their vote with respect to the Plan, Mr.
Conlan says.

The Debtors will provide notice of the Equity Settlement and
related Plan Modifications to the Equity Holders and other
parties-in-interest and will give those parties an opportunity to
object to the Equity Settlement and Modified Plan.

Mr. Conlan adds that the Debtors will also provide holders of
SSCC Preferred Interests in Class 1F with an opportunity to
submit a ballot to vote to accept or reject the Modified Plan.
However, he notes that the Debtors are not providing holders of
SSCC Common Interests in Class 1G an opportunity to vote on the
Plan, and will instead seek confirmation of the Modified Plan
under Section 1129(b) of the Bankruptcy Code with respect to
Class 1G.  In that regard, he notes that the only Class 1G
Holders who prosecuted objections to the Plan are parties to the
Equity Settlement and support confirmation of the Modified Plan.

Copies of the Proposed Notices that the Debtors will send to
these parties are available for free at:

  * Holders of General Unsecured Claims against SSCE and SSCC in
    Class 2E: http://bankrupt.com/misc/SmrftEqSttlmtA.pdf

  * Holders of SSCC Preferred Interests in Class IF:

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

  * Holders of SSCC Common Interests in Class 1G:

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

                         Gexa Objects

On behalf of Gexa Energy LP, William Douglas White, Esq., at
McCarthy & White PLLC, in McLean, Virginia --
wdw@mccarthywhite.com -- relates that the Debtors and Gexa have
resolved Gexa's confirmation objection.  However, he notes that
the agreement was made by insertion of a provision in the
Proposed Confirmation Order.

"At this point, the status of the provisions in the proposed
order confirming the plan is not clear in light of the proposal
to modify the plan and the resulting volume of documents filed
and the speed with which this process is occurring," Mr. White
says.  He adds that "Gexa Energy has been unable to make contact
with the Debtors' counsel to determine whether any modification
of the proposed order confirming the plan will also reflect the
agreement reached by the parties to resolve the objection and
allow the claim."

Accordingly, Gexa Energy objects to the Debtors' Request to the
extent that any proposed relief in them could have the effect of
eliminating the proposed provision in the confirmation order
resolving Gexa's confirmation objection and allowing its claim or
otherwise impairing Gexa Energy's claim against the Debtors'
estate.  Gexa Energy also reserves the right to supplement its
Objection prior to and at the hearing or hearings scheduled in
the matter.

The Debtors sought and obtained a Court order setting today as
the hearing to consider approval of their Request.  Parties were
given until May 27, to file objections.

                      About Smurfit-Stone

Smurfit-Stone Container Corp. -- http://www.smurfit-stone.com/--
is one of the leading integrated manufacturers of paperboard and
paper-based packaging in North America and one of the world's
largest paper recyclers.  The Company operates 162 manufacturing
facilities that are primarily located in the United States and
Canada.  The Company also owns roughly one million acres of
timberland in Canada and operates wood harvesting facilities in
Canada and the United States.  The Company employs roughly 21,250
employees, 17,400 of which are based in the United States.  For
the quarterly period ended September 30, 2008, the Company
reported roughly US$7.450 billion in total assets and
US$5.582 billion in total liabilities on a consolidated basis.

Smurfit-Stone and its U.S. and Canadian subsidiaries filed for
Chapter 11 protection on January 26, 2009 (Bankr. D. Del. Lead
Case No. 09-10235).  Certain of the company's affiliates,
including Smurfit-Stone Container Canada Inc., a wholly owned
subsidiary of SSCE, and certain of its affiliates, filed to
reorganize under the Companies' Creditors Arrangement Act in the
Ontario Superior Court of Justice in Canada.

Smurfit-Stone joined pulp- and paper-related bankruptcies as
rising Internet use hurts magazines and newspapers.  Corporacion
Durango SAB, Mexico's largest papermaker, sought U.S. bankruptcy
in October.  Quebecor World Inc., a magazine printer and Pope &
Talbot Inc., a pulp-mill operator, also sought cross-border
bankruptcies for their operations in the U.S. and Canada.

James F. Conlan, Esq., Matthew A. Clemente, Esq., Dennis M.
Twomey, Esq., and Bojan Guzina, Esq., at Sidley Austin LLP, in
Chicago, Illinois; and Robert S. Brady, Esq., and Edmon L. Morton,
Esq., at Young Conaway Stargatt & Taylor in Wilmington, Delaware,
serve as the Debtors' bankruptcy counsel.  PricewaterhouseCoopers
LLC, serves as the Debtors' financial and investment consultants.
Lazard Freres & Co. LLC acts as the Debtors' investment bankers.
Epiq Bankruptcy Solutions LLC acts as the Debtors' notice and
claims agent.

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


SMURFIT-STONE: Reaches Deal with Union Bank & CIT on Plan
---------------------------------------------------------
The Union Bank of California previously submitted an objection to
confirmation of Smurfit-Stone Container's Chapter 11 Plan of
Reorganization.  Subsequently, the Parties entered into a
stipulation, which resolves Union Bank's confirmation objection.
Specifically, the Stipulation provides that:

  * in addition to the treatment provided for Union Bank's
    claims under Section 3.5.3 of the Plan, the Debtors will pay
    to Union Bank, on the effective date of the Plan, $125,000
    on account of "default rate" interest;

  * the order confirming the Plan will include this language:

       "The first sentence of Section 3.5.3 of the Plan (Class
       4C: Union Bank Claims Against Calpine Corrugated) is
       hereby deemed amended to add the following clause to the
       end thereof:", plus the further sum of $125,000 in
       settlement and compromise of Union Bank's claims for
       payment of default rate interest in excess of non-default
       rate interest accruing under the Union Bank Credit
       Agreement through the Effective Date."

  * subject to the modification to Section 3.5.3 of the Plan,
    Union Bank's vote on the Plan will be deemed changed to a
    vote to accept the Plan and the Union Bank Objection will be
    deemed withdrawn; and

  * the Stipulation will not alter the Debtors' obligations
    under the Court's final order authorizing the use of cash
    collateral by Calpine Corrugated, Inc.

CIT Group/Equipment Financing, Inc. filed an objection to
confirmation of the Debtors' Chapter 11 Plan of Reorganization.

Subsequently, the Parties entered into a stipulation, which
resolves the Confirmation objection.

The Parties' stipulation provides that:

  * in addition to the treatment provided for CIT Group's claims
    under Section 3.5.4 of the Plan, the Debtors will pay to
    CIT, on the effective date of the Plan, $750,000 on account
    of "default rate" interest accruing through the Effective
    Date, provided that the Effective Date occurs on or before
    July 15, 2010;

  * if the Effective Date occurs after July 15, 2010, CIT will
    also be entitled to receive, in addition to the treatment
    provided for its claims under the Plan, the payment of
    "default rate" interest under the CIT Credit Agreement for
    the period from July 15, 2010 through the Effective Date;

  * the order confirming the Plan will include this language:

       "The first sentence of Section 3.5.4(b) of the Plan
       (Class 4D: CIT Group Claims Against Calpine Corrugated)
       is hereby deemed amended to add the following language to
       the end thereof: ", plus the further sum of $750,000 in
       settlement, and compromise of CIT's claims for payment of
       default rate interest in excess of non-default rate
       interest accruing under the CIT Credit Agreement through
       the Effective Date and, in the event that the Effective
       Date has not occurred on or before July 15, 2010, CIT
       shall also receive payment of interest accruing at the
       default rate under the CIT Credit Agreement from July 15,
       2010 through the Effective Date."

  * upon entry of the Confirmation Order that includes the
    modification to Section 3.5.4 of the Plan, CIT's vote on the
    Plan will be deemed changed to a vote to accept the Plan and
    the CIT Objection will be deemed withdrawn;

  * effective as of the date that CIT receives payment in full
    of all amounts stated in Section 3.5.4(b) of the Plan, CIT
    will waive its rights and remedies under that certain
    Subordination Agreement dated as of March 30, 2006, by and
    between CIT and Calpine Containers, Inc., and the agreement
    will be of no further effect; and

  * the Stipulation will not alter the Debtors' obligations
    under the Court's final order authorizing the use of cash
    collateral by Calpine Corrugated, Inc.

                      About Smurfit-Stone

Smurfit-Stone Container Corp. -- http://www.smurfit-stone.com/--
is one of the leading integrated manufacturers of paperboard and
paper-based packaging in North America and one of the world's
largest paper recyclers.  The Company operates 162 manufacturing
facilities that are primarily located in the United States and
Canada.  The Company also owns roughly one million acres of
timberland in Canada and operates wood harvesting facilities in
Canada and the United States.  The Company employs roughly 21,250
employees, 17,400 of which are based in the United States.  For
the quarterly period ended September 30, 2008, the Company
reported roughly US$7.450 billion in total assets and
US$5.582 billion in total liabilities on a consolidated basis.

Smurfit-Stone and its U.S. and Canadian subsidiaries filed for
Chapter 11 protection on January 26, 2009 (Bankr. D. Del. Lead
Case No. 09-10235).  Certain of the company's affiliates,
including Smurfit-Stone Container Canada Inc., a wholly owned
subsidiary of SSCE, and certain of its affiliates, filed to
reorganize under the Companies' Creditors Arrangement Act in the
Ontario Superior Court of Justice in Canada.

Smurfit-Stone joined pulp- and paper-related bankruptcies as
rising Internet use hurts magazines and newspapers.  Corporacion
Durango SAB, Mexico's largest papermaker, sought U.S. bankruptcy
in October.  Quebecor World Inc., a magazine printer and Pope &
Talbot Inc., a pulp-mill operator, also sought cross-border
bankruptcies for their operations in the U.S. and Canada.

James F. Conlan, Esq., Matthew A. Clemente, Esq., Dennis M.
Twomey, Esq., and Bojan Guzina, Esq., at Sidley Austin LLP, in
Chicago, Illinois; and Robert S. Brady, Esq., and Edmon L. Morton,
Esq., at Young Conaway Stargatt & Taylor in Wilmington, Delaware,
serve as the Debtors' bankruptcy counsel.  PricewaterhouseCoopers
LLC, serves as the Debtors' financial and investment consultants.
Lazard Freres & Co. LLC acts as the Debtors' investment bankers.
Epiq Bankruptcy Solutions LLC acts as the Debtors' notice and
claims agent.

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


SMURFIT-STONE: Resolves Issues with Equity Holders, Sees Exit
-------------------------------------------------------------
Smurfit-Stone Container Corporation announced on May 24, 2010,
that it has reached a resolution with Mariner Investment Group
LLC and Senator Investment Group LP, each an investment advisor
to funds under management, as holders of the Company's preferred
stock, and funds and accounts managed by P. Schoenfeld Asset
Management LP and Fir Tree, Inc., as holders of the Company's
common stock, who were prosecuting objections to the Company's
Chapter 11 Plan of Reorganization.

Specifically, the Debtors will split 4.5 percent of the
Reorganized Debtors' stock that they are planning to issue as
part of the Plan -- 2.25 percent of the New SSCC Common Stock
Pool will be distributed pro rata to the Company's existing
preferred stockholders and 2.25 percent of the New SSCC Common
Stock Pool will be distributed pro rata to the Company's existing
common stockholders.  Additionally, the resolution provides for
the payment of certain of the fees and expenses of the Holders
and their professionals.  The resolution has the support of the
Official Committee of Unsecured Creditors.

"Reaching this agreement with our stockholders is a major
milestone for our company and positions us to emerge from
bankruptcy in the coming weeks," said Patrick J. Moore, chairman
and CEO of Smurfit-Stone.  "Our focus has been, and continues to
be, driving value for our stakeholders and helping our customers
grow their businesses."

The Company will ask the United States Bankruptcy Court to
approve notice procedures with respect to the resolution and to
schedule a hearing to approve the resolution and related non-
material modifications to the Company's Chapter 11 Plan of
Reorganization.  This resolution resolves all of the objections
to the confirmation of the Chapter 11 plan raised by the Holders
and as a result, the Company anticipates an exit from Chapter 11
by early Summer 2010.

The Debtors are also planning to file a revised Plan, under which
unsecured creditors will receive stock in return for cancelling
approximately $3.1 billion in debt, Director of Communications
and Public Affairs Lisa Esneault said in an interview with
Bloomberg News.

                     Parties File Trial Briefs

Prior to the resolution of the Equity Holders' objections, these
parties-in-interest submitted separate trial briefs asking the
Court not to confirm the Plan:

  -- Aurelius Capital Management LP and Columbus Hill Capital
     Management, L.P.;

  -- Manufacturers and Traders Trust Company, in its capacity as
     successor indenture trustee under four series of indentures
     pursuant to which notes totaling approximately $2.1 billion
     were issued;

  -- Wilmington Trust Company; and

  -- Mariner Investment Group LLC, Senator Investment Group LP,
     Fir Tree, Inc., and P.Schoenfeld Asset Management LP.

The Debtors and the Official Committee of Unsecured Creditors
also submitted their own trial briefs asking the Court to confirm
the Plan.

The Equity Objectors assert that the Plan is not confirmable
because of a number of issues.

Specifically, M&T reiterates that the Debtors are using the Plan
confirmation process to disallow the intercompany claim held by
Stone FinCo II against Debtor Smurfit-Stone Container Canada,
Inc.

On behalf of M&T, Howard A. Cohen, Esq., at Drinker Biddle &
Reath LLP, in Wilmington, Delaware, asserts that in order for
the Plan to be confirmed, the Court must be provided an
opportunity to determine the allowance of the Intercompany Claim.
He adds that the Debtors must further provide a sufficient
reserve so that the Intercompany Claim may be paid in full to the
extent it becomes an allowed claim.  Mr. Cohen notes that the
Intercompany Claim has not yet been adjudicated by the Court.

Aurelius and Columbus argue that the Debtors are (a) unfairly
depriving Finance II and the creditors of Finance II of a
reasonable recovery on the assets of Finance II as a means to
increase the recovery to other creditors, and (b) facilitating a
disposition of the Debtors' Canadian assets to an Smurfit-Stone
Container Enterprise, which is an "insider", in violation of the
absolute priority rule and Sections 363(b) and 1123(a)(5)(D) of
the Bankruptcy Code.

Scott D. Cousins, Esq., at Greenberg Traurig LLP, in Wilmington,
Delaware, says that The Amended Plan was not proposed in good
faith and the Debtors have still offered nothing but conclusory
statements in an effort to overcome the conclusion.  He notes
that since the Petition Date, they have intentionally failed to
protect -- and consciously acted to subvert -- the interests of
Finance II and its creditors.

Mr. Cousins further argues that the Debtors entirely fail to
address the plan objection raised by the Equity Objectors
regarding the cap imposed on the Prepetition Noteholder Claims,
which unfairly and impermissibly deprives the Objecting Parties
of interest on the Notes by reducing the amount of the Guarantee
Claims as a percentage of the total assets available to creditors
in Class 2E.

Fir Tree argues that with regard to the Debtors' enterprise
value, the Debtors mischaracterized the testimony made by Roberts
Brokaw III, an independent provider of corporate finance advisory
services, by twisting his words and misleading the Court by
stating that Mr. Brokaw admitted that he would not have added a
"control premium" if his assignment had been to calculate a
straightforward value for a non-controlling interest in the
reorganized Debtors.

Mark Minuti, Esq., at Saul Ewing LLP, in Wilmington, Delaware,
asserts that the statement was never made by Mr. Brokaw.  He
explains that Mr. Brokaw was only asked whether his approach for
valuing a minority share was different from his approach for
valuing an entire enterprise and, consistent with his application
of a control premium, he said "yes".

Mr. Brokaw previously testified that the Debtors' business
enterprise value available for distribution to creditors and
equity holders is at least $5,600,000,000.

Mr. Minuti further argues that the Debtors try to dissuade the
Court from using bond trading prices as a valuation proxy, yet
they do not explain the complete reversal of their position
because they relied exclusively on trading prices to determine
recoveries under the Plan.

"Of course, if bond trading prices were irrelevant as the Debtors
argue, then the Debtors' deference to those values when
structuring the Plan in lieu of a formal valuation shows a
serious abdication of fiduciary duties," Mr. Minuti argues.

On behalf of Mariner and Senator, Christopher & Simon LLC, in
Wilmington, Delaware, argues that the Debtors' valuations are not
the result of a "straight forward" application of traditional
valuation methodologies.  He adds that to properly value a
company in a highly cyclical, commodity business like paper and
packaging, a valuation expert should normalize the company's
historical earnings by averaging them over a full cycle.

However, the Debtors argued that normalization is improper
because there is no recognized basis for employing a
normalization technique.  In that case, the Debtors claim another
court rejected an expert's use of "normalized" EBITDA where, as
here, the expert "reached back to years when the Debtors
generated revenue from business segments that have since been
closed."

              Debtors and WTC Support Confirmation

On May 18, the Debtors and WTC submitted their responses to the
Equity Objectors' post trial briefs.

WTC previously asked the Court to confirm the Plan if the Debtors
adapt WTC's calculations of the total amounts owing on account of
the Notes, including postpetition interest.

Mark E. Felger, Esq., at Cozen O'Connor, in Wilmington, Delaware,
notes that the Equity Objectors argued that prepayment penalties
are not available when a lender voluntarily chooses to accelerate
a debt and cause the early prepayment.  However, he contends that
regardless of whether the statement is true, the Equity
Objectors' arguments are inapplicable because the Debtors'
noteholders are not causing the early repayment of the debt.
Rather, the Debtors' voluntary actions are the cause.

Mr. Felger explains that by filing voluntary petitions for
Chapter 11 relief, the Debtors, not the Indenture Trustee or the
Noteholders, have caused the debt owing on the Notes to be
subject to acceleration by operation of law.

Accordingly, the acceleration of the Notes is due to the
voluntary acts of the Debtors, and the Noteholders have the right
to assert claims for "make-whole" damages and early redemption
premiums.

For these reasons, WTC supports confirmation of the Plan.

The Equity Objectors also made arguments regarding the Debtors'
financial projections.  In response to those, the Debtors contend
that the Equity Objectors ignore the breadth of authority stating
that the Court should accept management's projections when they
are a result of informed judgment.

James F. Conlan, Esq., at Sidley Austin LLP, in Chicago,
Illinois, relates that much of the Equity Objectors' post-trial
briefing focuses on short-term prices.  The Equity Objectors
contend that variances between the Debtors' projections and those
of RISI, Inc. show the Debtors' projections to be unreasonable.

RISI is an information provider for the global forest products
industry.

Mr. Conlan says that as the evidence at trial made clear, short-
term variances between the Debtors' price forecasts and RISI's
current and forecast prices are immaterial, particularly when the
Debtors' forecasts exceed RISI's in the later years of the
projection period.  He notes that the Equity Objectors ignore
that their own projections are dramatically higher than RISI's,
particularly in the out-years of the projection period, where
higher earnings before taxes lead to dramatically inflated
terminal values.

For these reasons, the Debtors ask that the Equity Objectors'
attempts to cast aspersions on the Debtors' Financial Projections
should be rejected.

Mr. Conlan contends that the Equity Objectors use normalized
EBITDA in their projections, which is not a standard valuation
technique in bankruptcy.

             Debtors Propose Further Amendments to
                       Confirmation Order

In connection with the confirmation hearing, the Debtors filed
proposed findings of fact and conclusions of law and order
confirming the Plan, which was subsequently revised.

On May 18, 2010, the Debtors submitted a redline against the
previously filed revised proposed findings of fact and
conclusions of law and order reflecting certain further proposed
revisions to the Proposed Confirmation Order.

Among the changes are the deletions and restatements of certain
sections of the Plan related to the Reorganized Debtors' amended
and restated by-laws and certificate of incorporation.

On the Plan's effective date, the amended and restated by-laws
and certificate of incorporation will include provisions
authorizing the issuance of 150,000,000 shares of new Smurfit-
Stone Container Corporation common stock of which 100,000,000
shares will initially be issued or reserved for issuance pursuant
to the Plan.  However, shares representing eight percent on a
fully diluted basis of the New SSCC Common Stock that is issued
or reserved for issuance will be reserved for issuance pursuant
to the pertinent Management Incentive Plans, with initial equity-
based grants made to certain officers and other employees of the
Reorganized Debtors.

The Amended and Restated Certificate of Incorporation will also,
among other things, prohibit the issuance of non-voting equity
securities in contravention of the Bankruptcy Code.

A copy of the Redline is available for free at:

           http://bankrupt.com/misc/SmrftRedPln2.pdf

                    Equity Objectors Respond

The Equity Objectors reiterated that the Debtors' assumptions
about the relationship between price and cost are incorrect and
belied by current market conditions and the evidence in the
record.  They point out that the Debtors failed to adduce any
documents, industry reports or analyses supporting their
assumption.

The evidence demonstrates that the ability to pass on pricing
increases is not dependent on rising costs, as the Debtors'
claim, and the two recent price increases, which the Debtors
incorrectly predicted, as well as current industry conditions are
not rising in direct correlation with linerboard pricing, support
the Equity Objectors' projections and discredit those of the
Debtors', the Equity Objectors contend.

                       Debtors Talk Back

The Debtors assert that their financial projections do not
understate their EBITDA for 2010 through 2014 but are the product
of good faith, informed judgment, and reasonably estimate the
Debtors' performance during the projections period.  They argue
that the Equity Objectors' adjustments to the Financial
Projections materially overstate the Debtors' projected EBITDA.

Mr. Conlan argues that the total enterprise value of the
Reorganized Debtors is between $3.145 billion to $3.445 billion
and the Distributable Value of the Reorganized Debtors is between
$3.410 billion and $3.710 billion.  He notes that the Enterprise
Value of the Debtors is significantly below the amount needed to
satisfy in full the unsecured creditors' claims and accordingly,
there is no value available for distribution to the Equity
Objectors.

Mr. Conlan further argues that the historical EBITDA figures for
2006 to 2009 cited by the Equity Objectors reflect the earnings
of a company that no longer exists.  He explains that since 2006
the Debtors' manufacturing capacity has decreased because they
have closed 47 box plants and eight mills, shut down a machine at
another mill and sold another mill.

"These actions have reduced mill capacity by 25%," Mr. Conlan
notes.

For these reasons, the Debtors ask the Court to confirm the Plan.

                Experts' Declarations Filed

William Levin, the managing director of The Levin Group L.P., the
Debtors' financial advisor, submitted a declaration in support of
confirmation of the Plan where he noted that the Equity
Objectors' experts conflict on certain items requiring upward
adjustment; the most notable of which relates to containerboard
pricing.   A copy of Mr. Levin's declaration is available for
free at http://bankrupt.com/misc/SmrftLevinDec.pdf

In a separate filing, the Equity Objectors ask the Court to
exclude Mr. Levin's declaration.  They assert that the Debtors
filed Mr. Levin's declaration on the eve of the conclusion of the
Confirmation Hearing, which they could have, and should have,
made when Mr. Levin filed his original statement on April 18,
2010 and during Mr. Levin's direct examination at the
Confirmation Hearing.

In support of the Plan, Rodney Fisher of Fisher International,
Inc., the Official Committee of Unsecured Creditors' industry
expert, also submitted his declaration, a copy of which is
available for free at http://bankrupt.com/misc/SmrftFisherDec.pdf

Mr. Fisher's declaration was rebutted by Jonathan Mishkin
of Sanabe & Associates LLC, who filed a declaration supporting
the Equity Objectors' arguments.  In his declaration, Mr. Mishkin
says that Mr. Fisher's computations are flawed. A copy of Mr.
Mishkin's declaration is available for free at:

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

                 Court Orders Exclusion of Info

During the course of the confirmation hearing, the Court entered
two separate orders regarding the exclusion of information
related to mergers and acquisitions counterparties and
strategies; and information related to continuing asset
disposition strategies.  The Orders were pursuant to agreements
made by the Debtors and the Equity Objectors.

                      About Smurfit-Stone

Smurfit-Stone Container Corp. -- http://www.smurfit-stone.com/--
is one of the leading integrated manufacturers of paperboard and
paper-based packaging in North America and one of the world's
largest paper recyclers.  The Company operates 162 manufacturing
facilities that are primarily located in the United States and
Canada.  The Company also owns roughly one million acres of
timberland in Canada and operates wood harvesting facilities in
Canada and the United States.  The Company employs roughly 21,250
employees, 17,400 of which are based in the United States.  For
the quarterly period ended September 30, 2008, the Company
reported roughly US$7.450 billion in total assets and
US$5.582 billion in total liabilities on a consolidated basis.

Smurfit-Stone and its U.S. and Canadian subsidiaries filed for
Chapter 11 protection on January 26, 2009 (Bankr. D. Del. Lead
Case No. 09-10235).  Certain of the company's affiliates,
including Smurfit-Stone Container Canada Inc., a wholly owned
subsidiary of SSCE, and certain of its affiliates, filed to
reorganize under the Companies' Creditors Arrangement Act in the
Ontario Superior Court of Justice in Canada.

Smurfit-Stone joined pulp- and paper-related bankruptcies as
rising Internet use hurts magazines and newspapers.  Corporacion
Durango SAB, Mexico's largest papermaker, sought U.S. bankruptcy
in October.  Quebecor World Inc., a magazine printer and Pope &
Talbot Inc., a pulp-mill operator, also sought cross-border
bankruptcies for their operations in the U.S. and Canada.

James F. Conlan, Esq., Matthew A. Clemente, Esq., Dennis M.
Twomey, Esq., and Bojan Guzina, Esq., at Sidley Austin LLP, in
Chicago, Illinois; and Robert S. Brady, Esq., and Edmon L. Morton,
Esq., at Young Conaway Stargatt & Taylor in Wilmington, Delaware,
serve as the Debtors' bankruptcy counsel.  PricewaterhouseCoopers
LLC, serves as the Debtors' financial and investment consultants.
Lazard Freres & Co. LLC acts as the Debtors' investment bankers.
Epiq Bankruptcy Solutions LLC acts as the Debtors' notice and
claims agent.

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


SOUTH BAY: Gets Nod to Pay Betterments Obligations
--------------------------------------------------
When the South Bay Expressway opened in November 2007, various
work remained outstanding, including certain off-site work
included in the Franchise Agreement and described as "Betterments"
pursuant to a Cooperative Agreement between Caltrans and the
county of San Diego executed on January 16, 2002, which is
incorporated as collateral under the Term Loan Agreement and the
TIFIA Loan Agreement, relates R. Alexander Pilmer, Esq., at
Kirkland & Ellis LLP, in Los Angeles, California.

In a motion, the Debtors sought the Court's authority to:

  (a) pay and discharge, on a case-by-case basis and in their
      sole discretion, amounts incurred prepetition only in
      respect of the Park Betterments and covered under the Park
      Betterments LOC in the ordinary course of business and in
      accordance with prepetition practice and the terms of the
      Franchise Agreement and the Park Betterments LOC; and

  (b) to continue to honor, perform and exercise their rights
      and obligations, whether arising prepetition or
      postpetition, in respect of the Park Betterments, whether
      arising under the Franchise Agreement, Park Betterments
      LOC or otherwise.

Per the minutes of a May 27, 2010 hearing, Judge Adler granted the
Debtors' request to pay Park Betterments obligations on certain
conditions.

The Court directed a knowledgeable principal of the Debtors to
execute and file a declaration attesting under penalty of perjury
that the Park Betterments LOC was collateralized by the Debtors'
Equity Holders and that it is not an asset otherwise available to
the general creditor body.

Judge Adler also directed the Debtors' and parties-in-interest's
counsel to submit a declaration executed by a competent witness to
substantiate all fact allegations in a motion.

                    About South Bay Expressway

South Bay Expressway, L.P., dba San Diego Expressway, L.P., filed
for Chapter 11 on March 22, 2010 (Bankr. S.D. Calif. Case No.
10-04516).  Its affiliate, California Transportation Ventures
Inc., also filed for bankruptcy.

The Debtors developed and operate a four lane, nine mile express
toll road in Southern California commonly referred to as the South
Bay Expressway or State Road 125.  Both estimated assets and debts
of $500 million to $1 billion in their bankruptcy petitions.

Robert Pilmer, Esq., at Kirkland & Ellis LLP, represents the
Debtors in their restructuring effort.  PricewaterhouseCoopers LLP
is auditor and tax advisor.  Imperial Capital LLC is financial
advisor. Epiq Bankruptcy Solutions LLC serves as claims and notice
agent.

The Debtors say that as of the bankruptcy filing, they have
roughly $640 million in book value of total assets and roughly
$570 million in book value of total liabilities.

Bankruptcy Creditors' Service, Inc., publishes South Bay
Expressway Bankruptcy News.  The newsletter tracks the Chapter 11
proceeding undertaken by South Bay Expressway LP and California
Transportation Ventures Inc.  (http://bankrupt.com/newsstand/or
215/945-7000).


SOUTH BAY: PwC Employment Application Fails to Win Judge's Nod
--------------------------------------------------------------
The bankruptcy judge did not approve, for reasons set forth in the
U.S. Trustee's objection, South Bay Expressway, L.P., and
California Transportation Ventures, Inc.'s application to employ
PricewaterhouseCoopers LLP as their tax advisor and auditor, nunc
pro tunc to the Petition Date.

Tiffany L. Carroll, the Acting United States Trustee for Region
15, asserted that PwC should provide additional disclosure
regarding their present relationship with Macquarie 125 Holdings,
Inc., the Debtors' parent.  She also argued, among other things,
that if PWC's fees will be billed at an hourly rate, PwC should
offer an estimate of the approximate cost for the PwC Retention
Advisors' fees and should explain what services those advisors
will provide to the Debtors that would benefit the bankruptcy
estates.

Judge Adler opined that the tax and audit services to be provided
by PWC are not so unique that another accounting professional
willing to abide by local rules for timekeeping and case law
regarding indemnification could not provide those services.   She
added that there is no cost-savings by continuing with PWC since,
as the supplemental declaration of Steve Embry indicates, the firm
provided no services prepetition.

                    About South Bay Expressway

South Bay Expressway, L.P., dba San Diego Expressway, L.P., filed
for Chapter 11 on March 22, 2010 (Bankr. S.D. Calif. Case No.
10-04516).  Its affiliate, California Transportation Ventures
Inc., also filed for bankruptcy.

The Debtors developed and operate a four lane, nine mile express
toll road in Southern California commonly referred to as the South
Bay Expressway or State Road 125.  Both estimated assets and debts
of $500 million to $1 billion in their bankruptcy petitions.

Robert Pilmer, Esq., at Kirkland & Ellis LLP, represents the
Debtors in their restructuring effort.  PricewaterhouseCoopers LLP
is auditor and tax advisor.  Imperial Capital LLC is financial
advisor. Epiq Bankruptcy Solutions LLC serves as claims and notice
agent.

The Debtors say that as of the bankruptcy filing, they have
roughly $640 million in book value of total assets and roughly
$570 million in book value of total liabilities.

Bankruptcy Creditors' Service, Inc., publishes South Bay
Expressway Bankruptcy News.  The newsletter tracks the Chapter 11
proceeding undertaken by South Bay Expressway LP and California
Transportation Ventures Inc.  (http://bankrupt.com/newsstand/or
215/945-7000).


SOUTH BAY: Wins Approval for Ajalat as Special Counsel
------------------------------------------------------
South Bay Expressway and affiliate, California Transportation
Ventures Inc., received the Bankruptcy Court's permission to
employ Ajalat, Polley, Ayoob & Matarese as their special taxation
counsel, nunc pro tunc to April 21, 2010, in accordance with the
terms and conditions set forth in the parties' engagement letter,
dated as of April 21, 2010.

As special counsel, Ajalat will provide legal advice and
representation with respect to certain of the Debtors' San Diego
County property tax assessments for tax years 2007 through 2010,
to the extent the advice and representation is desired or
necessary.  All of the services that Ajalat has provided and will
provide to the Debtors will be undertaken at the Debtors' request
and will be appropriately directed by the Debtors as to avoid
duplicative efforts among the professionals retained in their
Chapter 11 cases, Anthony G. Evans, the Debtors' chief financial
officer, assures Judge Adler.

The Debtors will pay Ajalat according to applicable procedures and
laws, and consistent with the proposed compensation set forth in
the Engagement Letter.  Subject to the Court's approval, the
Debtors have agreed to pay:

  (a) hourly fees based on actual time expended at the rate of
      $350 per hour for partners and $200 per hour for
      associates; and

  (b) additional contingent cash fees, payable upon the
      achievement and consummation of a reduction in tax
      assessment with respect to:

      * the base year value, an amount equal to 10% of the
        savings of tax for the first full fiscal year to which
        that base year value applies; plus

      * the 2008 tax year assessment, an amount equal to 10% of
        the savings of tax resulting from a reduction below the
        current assessed value; plus

      * the 2009 tax year assessment, an amount equal to 10% of
        the savings of tax resulting from a reduction below a
        $300 million value; plus

      * the 2010 tax year assessment, an amount equal to 10% of
        the savings of tax resulting from a reduction below a
        $300 million value.

The Contingent Fees relating to any tax year will be reduced by
50% if it is determined that the property is exempt from taxation
for any year.  Further, the Contingent Fees plus any Hourly Fees
paid to Ajalat for the period beginning September 22, 2008,
through June 20, 2010, will be capped at $500,000.  The Debtors
will also reimburse Ajalat for its reasonable expenses incurred in
connection with its retention.

Prior to the Petition Date, Mr. Evans discloses, the Debtors paid
Ajalat total fees of $65,624.  He assures Judge Adler that any
portion of the Debtors' prepetition payments to Ajalat that is not
applied to prepetition fees and expenses will be detailed in
Ajalat's first interim fee application, and that portion will be
credited towards fees and expenses incurred by Ajalat after
April 21, 2010, as allowed by the Court.

Because Ajalat is being retained as special counsel under
Section 327(e) of the Bankruptcy Code, Mr. Evans says that Ajalat
is not required to be a "disinterested person" as that term is
defined in Section 101(14) of the Bankruptcy Code.  However,
Ajalat has informed the Debtors that, except as may be set forth
in the declaration by Christopher J. Matarese, a partner at
Ajalat, the firm says it does not hold any interest adverse to the
Debtors or their bankruptcy estates in the taxation matters for
which Ajalat is to be employed.

                    About South Bay Expressway

South Bay Expressway, L.P., dba San Diego Expressway, L.P., filed
for Chapter 11 on March 22, 2010 (Bankr. S.D. Calif. Case No.
10-04516).  Its affiliate, California Transportation Ventures
Inc., also filed for bankruptcy.

The Debtors developed and operate a four lane, nine mile express
toll road in Southern California commonly referred to as the South
Bay Expressway or State Road 125.  Both estimated assets and debts
of $500 million to $1 billion in their bankruptcy petitions.

Robert Pilmer, Esq., at Kirkland & Ellis LLP, represents the
Debtors in their restructuring effort.  PricewaterhouseCoopers LLP
is auditor and tax advisor.  Imperial Capital LLC is financial
advisor. Epiq Bankruptcy Solutions LLC serves as claims and notice
agent.

The Debtors say that as of the bankruptcy filing, they have
roughly $640 million in book value of total assets and roughly
$570 million in book value of total liabilities.

Bankruptcy Creditors' Service, Inc., publishes South Bay
Expressway Bankruptcy News.  The newsletter tracks the Chapter 11
proceeding undertaken by South Bay Expressway LP and California
Transportation Ventures Inc.  (http://bankrupt.com/newsstand/or
215/945-7000).


SPHERIS INC: Holds Auction for Subordinated Note
------------------------------------------------
Bill Rochelle at Bloomberg News reports that Spheris Inc. decided
to hold an auction on short notice to see if there is a higher
offer to purchase a $17.5 million subordinated note received from
purchasers who bought the business in April for $98.83 million.

Bloomberg recounts that Spheris, now formally named SP Wind Down
Inc., filed a motion in May asking the bankruptcy judge in
Delaware to approve selling the note without disclosing the price
and without holding an auction.  The purchaser was to be Riva
Ridge Master Fund Ltd.  The U.S. Trustee opposed, saying it would
be improper to sell the note without disclosing the price.

According to Bloomberg, Spheris said in a June 3 court filing that
it had received additional inquiries about purchasing the note.
The Company on its own scheduled an auction to be held June 7, one
day before the hearing where the bankruptcy judge will be asked to
approve the sale.

The five-year note starts off paying interest at 8%, rising to
12.5%.  The purchasers of the assets have the right to prepay the
note within six months for 77.5% of outstanding principal.

                        About Spheris Inc.

Headquartered in Franklin, Tennessee, Spheris Inc. --
http://www.spheris.com/-- is a global provider of clinical
documentation technology and services.

Spheris Inc., along with five affiliates, filed for Chapter 11 on
Feb. 3, 2010 (Bankr. D. Del. Case No. 10-10352).  Attorneys at
Young Conaway Stargatt & Taylor, LLP, and Willkie Farr & Gallagher
LLP represent the Debtors in their Chapter 11 effort.  Jefferies &
Company serve as financial advisors to the Debtors.  Attorneys at
Schulte Roth & Zabel LLP and Landis Rath & Cobb LLP serve as
counsel to the prepetition and DIP lenders.  Garden City Group
Inc. is claims and notice agent.  The petition says that assets
range from $50,000,001 to $100,000,000 while debts range from
$100,000,001 to $500,000,000.

The estate of Spheris Inc. is now formally named SP Wind Down Inc.
after it sold the business in April.  CBay Inc.'s MedQuist Inc.
purchased the domestic business of Spheris for $98.8 million.


SPHERIS INC: Court Hearing on Exclusivity Extension June 16
-----------------------------------------------------------
Spheris Inc., nka SP Wind Down Inc., et al., asked the U.S.
Bankruptcy Court for the District of Delaware to extend their
exclusive periods to file and solicit acceptances for the proposed
Chapter 11 Plan until September 1, 2010, and November 1, 2010,
respectively.

The Debtors filed their request for an extension before the
exclusive periods was set to expire on June 3.

The Debtors need additional time to formulate and negotiate with
the official committee of unsecured creditors a consensual Plan in
order to exit the Chapter 11 cases exeditiously.

The Debtors propose a hearing on the extension in their exclusive
periods on June 16, at 10:30 a.m..  Objections, if any, are due on
June 9, at 4:00 p.m.

                        About Spheris Inc.

Headquartered in Franklin, Tennessee, Spheris Inc. --
http://www.spheris.com/-- is a global provider of clinical
documentation technology and services.

Spheris Inc., along with five affiliates, filed for Chapter 11 on
Feb. 3, 2010 (Bankr. D. Del. Case No. 10-10352).  Attorneys at
Young Conaway Stargatt & Taylor, LLP, and Willkie Farr & Gallagher
LLP represent the Debtors in their Chapter 11 effort.  Jefferies &
Company serve as financial advisors to the Debtors.  Attorneys at
Schulte Roth & Zabel LLP and Landis Rath & Cobb LLP serve as
counsel to the prepetition and DIP lenders.  Garden City Group
Inc. is claims and notice agent.  The petition says that assets
range from $50,000,001 to $100,000,000 while debts range from
$100,000,001 to $500,000,000.

The estate of Spheris Inc. is now formally named SP Wind Down Inc.
after it sold the business in April.  CBay Inc.'s MedQuist Inc.
purchased the domestic business of Spheris for $98.8 million.


SPHERIS INC: Operations Amends Schedules of Assets and Debts
------------------------------------------------------------
Spheris Operations LLC, nka SP Wind Down Operations LLC, a debtor-
affiliate of Spheris Inc. filed with the U.S. Bankruptcy Court for
the District of Delaware amended schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property           $41,492,350
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $67,548,911
  E. Creditors Holding
     Unsecured Priority
     Claims                                        $2,152,487
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                      $141,991,076
                                 -----------      -----------
        TOTAL                    $41,492,350     $211,692,475

                        About Spheris Inc.

Headquartered in Franklin, Tennessee, Spheris Inc. --
http://www.spheris.com/-- is a global provider of clinical
documentation technology and services.

Spheris Inc., along with five affiliates, filed for Chapter 11 on
Feb. 3, 2010 (Bankr. D. Del. Case No. 10-10352).  Attorneys at
Young Conaway Stargatt & Taylor, LLP, and Willkie Farr & Gallagher
LLP represent the Debtors in their Chapter 11 effort.  Jefferies &
Company serve as financial advisors to the Debtors.  Attorneys at
Schulte Roth & Zabel LLP and Landis Rath & Cobb LLP serve as
counsel to the prepetition and DIP lenders.  Garden City Group
Inc. is claims and notice agent.  The petition says that assets
range from $50,000,001 to $100,000,000 while debts range from
$100,000,001 to $500,000,000.

The estate of Spheris Inc. is now formally named SP Wind Down Inc.
after it sold the business in April.  CBay Inc.'s MedQuist Inc.
purchased the domestic business of Spheris for $98.8 million.


SPRINT NEXTEL: Obtains $2.1 Billion Revolving Credit Facility
-------------------------------------------------------------
Sprint Nextel Corp. has entered into a new $2.1 billion unsecured
revolving credit facility.  The new credit facility expires in
October 2013 and replaces the company's $4.5 billion revolving
credit facility that was due to expire in December 2010.

In the fourth quarter of 2009 and the first quarter of 2010,
Sprint generated $666 million and $506 million of Free Cash Flow,
respectively.  The company ended first quarter 2010 with cash,
cash equivalent and short-term investments of $4.4 billion that
reduce the need for a larger credit facility and its related
costs.

The new credit facility will provide supplemental liquidity for
general corporate purposes and will be used to support the
$1.6 billion letter of credit required by the Federal
Communications Commission's Report and Order to reconfigure the
800 MHz band.  The credit facility does not have an outstanding
balance, but letters of credit reduce the facility's available
borrowing capacity.

The new credit agreement includes a ratio of total indebtedness to
trailing four quarter EBITDA adjusted for certain other non-
recurring charges to a maximum of 4.50 to 1 through March 2012,
subsequently reduced to 4.25 to 1 through December 2012, and
thereafter reduced to 4.0 to 1 for the remaining term.

The company simultaneously amended its $750 million credit
agreement with Export Development Canada, originally entered into
in March 2007, to incorporate the same changes in covenants.

                      About Sprint Nextel

Overland Park, Kansas-based Sprint Nextel Corporation --
http://www.sprint.com/-- offers a comprehensive range of wireless
and wireline communications services bringing the freedom of
mobility to consumers, businesses and government users. Sprint
Nextel is widely recognized for developing, engineering and
deploying innovative technologies, including two wireless networks
serving more than 48 million customers at the end of the third
quarter of 2009 and the first and only 4G service from a national
carrier in the United States; industry-leading mobile data
services; instant national and international push-to-talk
capabilities; and a global Tier 1 Internet backbone.

As of December 31, 2009, the Company had $55.424 billion in total
assets against $37.329 billion in total liabilities.  The December
31 balance sheet showed strained liquidity: as of December 31,
2009, the Company had $8.593 billion in total current assets
against $6.785 billion in total current liabilities.

Sprint has posted a net loss for three consecutive years --
reporting a net loss of $2.436 billion in 2009 from a net loss of
$29.444 billion in 2007 and $2.796 billion in 2008.

                           *     *     *

Sprint Nextel carries Moody's Investors Service's Ba1 corporate
family rating and Standard & Poor's Ratings Services' BB issuer
credit rating.

Moody's Investors Service has assigned a Baa2 rating to Sprint
Nextel Corporation's proposed $2.25 billion senior unsecured
revolving credit facility.  The new facility will mature in the
later half of 2013 and will replace the existing $4.5 billion
credit facility that was due to expire in December 2010.

Fitch Ratings has assigned a 'BB' rating with a Negative Rating
Outlook to the new proposed unsecured $2.25 billion revolving
credit facility at Sprint Nextel Corporation.  The credit facility
will mature in 2013.  Concurrently, Fitch will withdraw the
ratings on Sprint Nextel's $4.5 billion unsecured revolving credit
facility at the time of closing.


STOUDAMIRE'S DOWNTOWN: Changes Name to Downtown Sports Grill
------------------------------------------------------------
Nikki Buchanan at The Arizona Republic that Stoudamire's Downtown
has been renamed to Downtown Sports Grill.  Phoenix Suns player
Amare Stoudemire never owned the business in the first place.  He
was paid a licensing fee for the use of his name by Downtown
Restaurant LLC.

Stoudemire's Downtown filed for Chapter 11 bankruptcy protection
blaming the recession, declining attendance at National Basketball
Association games, and a rent dispute with the landlord.  Based in
Phoenix, Arizona, Stoudemire's Downtown operates a restaurant at 3
S. Second Street, Suite 113, near Second and Washington Streets.


SUN-TIMES MEDIA: To Transform, Grow Presence in Chicago Area
------------------------------------------------------------
Sun-Times Media, the Chicago region's most trusted source of local
news and information, today announced a series of strategic
investments that will dramatically enhance all aspects of the
products and services it provides to its customers.

Sun-Times Media has recently entered into two separate contracts
with two highly regarded, industry-leading companies:

   -- Digital Technology International (DTI), to significantly
      upgrade and modernize Sun-Times Media's extensive news-
      gathering and content dissemination operations;

   -- Atex Managed Services, to provide advertisers with superior
      service and flexibility and a state-of-the-art ad order
      placement, billing and management system.

Both of these major capital projects were made possible by Sun-
Times Media's deeply committed local owners and investors, who are
prominent members of the Chicago business community and who
purchased what is now Sun-Times Media just seven months ago.

"In an era where many of our competitors are struggling with
bankruptcy, disgruntled lenders and general upheaval in their day-
to-day operations, Sun-Times Media is making the investments that
are revolutionizing us into a leading media company -- both online
and print -- not just in Chicago but throughout the industry,"
said Jeremy L. Halbreich, Vice Chairman and Chief Executive
Officer of Sun-Times Media.  "We are truly excited about our
vision and strategies for the future, from our ability to give our
readers a much richer news experience through print, video and
online, to providing the kind of high-touch, consultative and
seamless business relationships that our advertisers expect and
deserve.  These are remarkable times for Sun-Times Media and we
are pleased that our owners continue to display unwavering
commitment and support to this enterprise."

DTI and Sun-Times Media are creating a new editorial system that
will be fully rolled out by early 2011 and that will put the
latest technology in all Sun-Times Media newsrooms.  This
innovative new system will make it much easier to share content
across the entire group of print and online publications, which
include the Chicago Sun-Times, seven suburban daily titles and 50
weekly titles, while giving Sun-Times Media far greater
flexibility and capability to update Web sites and other digital
platforms, all highly critical goals in a time of 24/7 demand for
news and information.

DTI provides print and digital publishing technology to media
companies around the world.  The new system will have the benefit
of the latest upgrades as they are developed by DTI, as well as
DTI's full technical support and maintenance.  The new editorial
system, DTI's ContentPublisher, will be Internet-based (known as
"cloud computing"), which means it can be accessed from any
location with an online connection.

With Atex, Sun-Times Media customers will benefit from Atex's
state-of-the art hosted advertising systems that will modernize
back-office processes.  By providing a single view of the
customer, the Atex platform will enable advertising
representatives to increase productivity and efficiency, all of
which will elevate the levels of advertising and marketing
services Sun-Times Media provides to its customers.

"Sun-Times Media is a market leader in many ways. These critical
projects will substantially recalibrate every aspect of Sun-Times
Media's daily operations.  They elevate our position and assure
the region will have a premium source for local news and
advertising solutions in the Chicago area marketplace," said Rick
Surkamer, President and Chief Operating Officer for Sun-Times
Media.

                        About Sun-Times Media


Sun-Times Media Group, Inc. (Pink Sheets: SUTMQ) --
http://www.thesuntimesgroup.com/-- (Pink Sheets: SUTM) owns
media properties including the Chicago Sun-Times and Suntimes.com
and 58 suburban newspaper titles and corresponding Web sites.  The
Company and its affiliates conduct business as a single operating
segment which is concentrated in the publishing, printing, and
distribution of newspapers in greater Chicago, Illinois,
metropolitan area and the operation of various related Web sites.
The Company also has affiliates in Canada, the United Kingdom, and
Burma.

Sun-Times Media's balance sheet at September 30, 2008, showed
total assets of $479.9 million, total liabilities of
$801.7 million, resulting in a stockholders' deficit of roughly
$321.8 million.

The Company and its affiliates filed for Chapter 11 bankruptcy
protection on March 31, 2009 (Bankr. D. Del. Case No. 09-11092).
James H.M. Sprayregan, P.C., James A. Stempel, Esq., David A.
Agay, Esq., and Sarah H. Seewer, Esq., at Kirkland & Ellis LLP,
assist the Debtors in their restructuring efforts.  Sun-Times
Media's investment banker is Rothschild Inc.  and its estructuring
advisor is Huron Consulting Group.  Kurtzman Carson Consultants
LLC is the Debtors' claims agent.  As of November 7, 2008, the
Debtors listed $479,000,000 in assets and $801,000,000 in debts.


SUNCAL COS: Court Affirms Escrowed Account Is Estates' Property
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
confirmed that the Escrow Account No. 6016409 at Chicago Title
Insurance Company are property of Palmdale Hills Property, LLC, et
al.'s estate.

The Court denied Villa San Clemente, LLC's motion.

SunCal Companies -- http://www.suncal.com/-- has more than
250,000 residential lots and 10 million square feet of commercial
space in various stages of development throughout California,
Arizona, Nevada and New Mexico.  Some of SunCal's communities
include Amerige Heights in Fullerton, Lincoln Crossing near
Sacramento and Terra Lago and Fairway Canyon near Palm Springs.
SunCal Companies recently added an active-adult, commercial,
homebuilding, multifamily and urban divisions; and expanded to
Florida, Texas and Washington, D.C.

Irvine, California-based Palmdale Hills Property, LLC, develops
real estate property.  It filed for Chapter 11 protection on
Nov. 6, 2008 (Bankr. C. D. Calif. Case No. 08-17206).  Affiliates
who also filed separate Chapter 11 petitions include: SunCal
Beaumont Heights, LLC; SunCal Johannson Ranch, LLC; SunCal Summit
Valley, LLC; SunCal Emerald Meadows LLC; SunCal Bickford Ranch,
LLC; SunCal Communities I, LLC; SunCal Communities III, LLC; and
SJD Development Corp.

Paul J. Couchot, Esq., at Winthrop Couchot PC represents Plamdale
Hills in its restructuring effort.  The company listed assets of
$100 million to $500 million and debts of $100 million to
$500 million.


TAMPA BAY HOLDINGS: Case Summary & 2 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Tampa Bay Holdings, LLC
        904 Capriccio Lane
        Apollo Beach, FL 33572

Bankruptcy Case No.: 10-13274

Chapter 11 Petition Date: June 1, 2010

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

Judge: Catherine Peek McEwen

Debtor's Counsel: Bernard J. Morse, Esq.
                  Morse & Gomez PA
                  11268 Winthrop Main Street, Suite 102
                  Riverview, FL 33578
                  Tel: (813) 341-8400
                  Fax: (813) 463-1807
                  E-mail: chipmorse@morsegomez.com

Scheduled Assets: $450,000

Scheduled Debts: $1,654,387

A list of the Company's 2 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flmb10-13274.pdf

The petition was signed by Kristie L. Horton, managing member.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
American Hydraulics, Inc.              10-13273    06/01/10
Ronald & Kristie Horton                10-9524     04/23/10


TEXAS RANGERS: Filing of Schedules Extended until June 28
---------------------------------------------------------
The Hon. D. Michael Lynn of the U.S. Bankruptcy Court for the
Northern District of Texas extended, at the behest of Texas
Rangers Baseball Partners, the deadline for the filing of schedule
of assets and liabilities, schedule of executor contracts and
unexpired leases, list of equity security holders, schedule of
current income and expenditures and statement of financial affairs
until June 28, 2010, or for an additional of 21 days.

The Debtor said that due to the size and complexity of its
operations, the Debtor anticipates that it won't be able to
complete its schedules and statements in the 14 days provided
under Bankruptcy Rule 1007(c).

Texas Rangers Baseball Partners owns and operates the Texas
Rangers Major League Baseball Club, a professional baseball club
in the Dallas/Fort Worth Metroplex.

TRBP is a Texas general partnership, in which subsidiaries of HSG
Sports Group LLC own a 100% stake.  Controlled by Thomas O. Hicks,
HSG also indirectly wholly-owns Dallas Stars, L.P., which owns and
operates the Dallas Stars National Hockey League franchise.  The
Texas Rangers have had five owners since the club moved to
Arlington in 1972.  Mr. Hicks became the fifth owner in the
history of the Texas Rangers on June 16, 1998.

In its petition, Texas Rangers Baseball Partners said it had both
assets and debt of less than $500 million.

Weil, Gotshal & Manges LLP serves as bankruptcy counsel to the
Debtor.  Forshey & Prostok LLP serves as conflicts counsel.
Parella Weinberg Partners LP serves as financial advisor.

Lenders to the Texas Rangers sought to force the baseball team's
equity owners -- Rangers Equity Holdings, L.P. and Rangers Equity
Holdings GP, LLC -- into bankruptcy court protection (Bankr. N.D.
Tex. Case No. 10-43624 and 10-43625).   The lenders, a group that
includes investment funds Monarch Alternative Capital and
Kingsland Capital Management, filed an involuntary bankruptcy
petition on May 28 against the two companies.  The two companies
were not included in the May 24 Chapter 11 filing of TRBP.


TRANS-LUX CORPORATION: Posts $1.4 Million Net Loss for Q1 2010
--------------------------------------------------------------
Trans-Lux Corporation filed its quarterly report on Form 10-Q,
reporting a net loss of $1.4 million on $5.4 million of revenue
for the three months ended March 31, 2010, compared with a net
loss of $1.2 million on $7.8 million of revenue for the same
period ended March 31, 2009.

The Company's balance sheet as of March 31, 2010, showed
$37.6 million in assets, $31.6 million of liabilities, and
$6.0 million of stockholders' equity.

As reported in the Troubled Company Reporter on April 24, 2010,
UHY LLP, in Hartford, Connecticut, expressed substantial
doubt about the Company's ability to continue as a going concern
after auditing the Company's financial statements for the year
ended December 31, 2009.  The independent auditors noted that the
Company has incurred significant recurring losses from continuing
operations and has a significant working capital deficiency.
Further, the Company is in default of the indenture agreements
governing its outstanding 9-1/2% Subordinated Debentures and its
8-1/4% Limited Convertible Senior Subordinated Notes.

The Company has a working capital deficiency of $16.0 million as
of March 31, 2010.  The Company did not make the required sinking
fund payment of $105,700 on its 9-1/2% Subordinated debentures
due 2012, which was due on December 1, 2009, and did not make the
March 1, 2010 interest payment of $417,800 on its 8-1/4% Limited
convertible senior subordinated notes due 2012.  Under the terms
of the indenture agreements that govern the Debentures and Notes,
the non-payments constitute events of default; accordingly, the
trustees or the holders of 25% of the outstanding Debentures and
Notes have the right to declare the outstanding principal and
interest due and payable immediately.  In the event that the
Company receives such notice, the senior lender has the right to
demand payment on outstanding amounts on the Credit Agreement.

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

               http://researcharchives.com/t/s?6427

Norwalk, Conn.-based Trans-Lux Corporation (NYSE Amex: TLX) is a
designer and manufacturer of digital signage display solutions for
the financial, sports and entertainment, gaming and leasing
markets.


TIRUPATI LLC: Case Summary & 12 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Tirupati, LLC
        dba Best Western of Troy
        100 Hunters Mountain Parkway
        Troy, AL 36081

Bankruptcy Case No.: 10-31468

Chapter 11 Petition Date: June 3, 2010

Court: United States Bankruptcy Court
       Middle District of Alabama (Montgomery)

Judge: William R. Sawyer

Debtor's Counsel: Cameron-RRL A. Metcalf, Esq.
                  Espy, Metcalf & Espy, P.C.
                  P.O. Drawer 6504
                  Dothan, AL 36302
                  Tel: (334) 793-6288
                  E-mail: cam@espymetcalf.com

Scheduled Assets: $1,561,419

Scheduled Debts: $3,384,656

A list of the Company's 12 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/almb10-31468.pdf

The petition was signed by Vijay Patel, member.


TRI-COUNTY SAND: Case Summary & 17 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Tri-County Sand & Aggregate LLC
        105 Attilla Rd
        Buffalo, KY 42716

Bankruptcy Case No.: 10-32959

Chapter 11 Petition Date: June 3, 2010

Court: United States Bankruptcy Court
       Western District of Kentucky (Louisville)

Debtor's Counsel: David M. Cantor, Esq.
                  Seiller Waterman LLC
                  462 S. 4th Street, Suite 2200
                  Louisville, KY 40202
                  Tel: 584-7400
                  E-mail: cantor@derbycitylaw.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 17 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/kywb10-32959.pdf

The petition was signed by Douglas W. Brockman, member.


TRIBUNE CO: Wins Nod of Reorganization Plan Outline
---------------------------------------------------
Tribune Co. can now begin soliciting creditors' votes on the
Chapter 11 plan.  Bill Rochelle at Bloomberg News reports that the
bankruptcy judge ruled at a June 4 hearing that he will approve
the disclosure statement explaining the plan.  The voting deadline
is July 30.  Not all creditors are in agreement with the plan,
filed in April, to implement a settlement negotiated with some
creditors.  Holders of $3.6 billion in pre-bankruptcy secured debt
announced their opposition even before the settlement was formally
disclosed.

                       About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austion LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North Americal LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.

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


TRICO MARINE: Shareholder Urges "No" Vote to Director Nominees
--------------------------------------------------------------
Oslo, Norway-based Kistefos AS, the largest stockholder of Trico
Marine Services, Inc. (Nasdaq: TRMA), said Friday it has not
changed its previously announced intention to vote against the
company's director nominees and other proposals at Trico's 2010
Annual Meeting, currently scheduled for June 10, 2010.  Kistefos
said that while it is encouraged that Trico has removed Joseph
Compofelice as the company's chairman and CEO, a move that
Kistefos had repeatedly urged the Board take since October 2009,
it still must hold the members of the Board standing for
reelection accountable for the loss of over 95% of the company's
market value, as well as the Board's failure to demonstrate how it
will restore stockholder value or describe a coherent strategy for
resolving the company's ongoing crisis.

Kistefos stated that its basis for voting against the Company's
nominees and proposals is further supported by the recently
announced conclusions of two of the leading U.S. proxy voting
advisory firms.  The ISS Proxy Advisory Services division of
RiskMetrics Group has recommended a vote against all three
directors, citing the company's anemic stock and financial
performance.  Proxy Governance has issued a report with the same
recommendation, citing Trico's "remarkably poor performance" over
the last three years.  Those two recommendations followed the
report issued earlier by Glass Lewis & Co., which advised
stockholders to withhold support from 2 of the 3 director nominees
and from certain of the company's proposals.

On May 29, 2010, Trico appointed Richard A. Bachmann as Chairman
of the Board of Directors and interim Chief Executive Officer of
the Company.  The Company also appointed Rishi A. Varma as
President of the Company in addition to his current role as Chief
Operating Officer.  The appointments replace Mr. Compofelice as
the Company's Chairman, President and Chief Executive Officer.

Mr. Bachmann has served as a director of the Board of Directors of
the Company since 2005 and, prior to this appointment, served as
the lead director and Chairman of the Board's Nominating and
Governance Committee.  In February 1998, Mr. Bachmann founded
Energy Partners, Limited, an independent exploration and
production company focused on deep water of the Gulf of Mexico and
the continental shelf, and served as its Chairman and Chief
Executive Officer from February 1998 until March 2009.

Mr. Varma joined Trico in May 2005 as Trico's General Counsel,
Corporate Secretary and Director of Corporate Governance, and has
since held positions of increasing responsibility. Mr. Varma
became a Vice President in June 2006 and was appointed Chief
Administrative Officer in March 2007. He was appointed to Senior
Vice President and Chief Operating Officer in December 2009. From
February 2003 until April 2005, Mr. Varma was Securities Counsel
and Director of Corporate Governance with EGL, Inc., an
international logistics company. From February 2000 to May 2002,
Mr. Varma was an associate in the Business and Technology group of
the law firm of Brobeck, Phleger and Harrison, L.P. From August
1997 until January 2000, Mr. Varma was an associate in the
corporate department of the law firm of Rosenman & Colin, LLP.

Kistefos is the owner of 3,535,959 shares of Trico Common Stock.
These shares represent approximately 18.1% of the Common Stock.
Kistefos is directly owned 63.2% by Christen Sveaas, 32.3% by
Svolder Holding AS, a Norwegian aksjeselskap (stock company), and
4.5% by an entity directly owned by Christen Sveaas. Mr. Sveaas
indirectly owns Svolder Holding AS.

Last month, Trico warned in May in its Form 10-Q filing for the
period ended March 31, 2010, that its "forecasted cash and
available credit capacity are not expected to be sufficient to
meet its commitments as they come due over the next twelve months
and the Company does not expect that it will be able to remain in
compliance with its debt covenants.  At March 31, 2010, we had
available cash of $32 million.  There can be no assurance that we
will have sufficient funds to permit us to make the 8.125% Payment
of approximately $8 million on or before May 15, 2010. Further, we
have no availability under either our U.S. $50 million revolving
credit facility or Trico Shipping's $33 million working capital
facility.  We will be unable to satisfy our obligations under the
8.125% Debentures, the 3% Debentures, the Senior Secured Notes,
the U.S. Credit Facility and the Trico Shipping Working Capital
Facility if such indebtedness is accelerated,"

The Company said it has engaged a financial advisor and is
pursuing measures to improve liquidity and its capital structure
and is in active discussions with various parties regarding
potential transactions, including replacing its current U.S.
Credit Facility and modifying the existing 8.125% Debentures to,
among other things, defer amortization payments.

"Under the indenture governing the 8.125% Debentures, if we do not
make the 8.125% Payment by June 15, 2010, the trustee under such
indenture, or the holders of at least 25% in principal amount of
the outstanding 8.125% Debentures, by notice to us, may declare
the outstanding principal of and accrued but unpaid interest on
all the 8.125% Debentures to be due and payable immediately.  In
addition, if the 8.125% Payment is not made on June 15, 2010
(irrespective of whether the amounts owing under the 8.125%
Debentures are accelerated), then the administrative agents under
the U.S. Credit Facility and the Trico Shipping Working Capital
Facility may, upon written request by all the non-defaulting
lenders thereto, declare the outstanding principal of and accrued
but unpaid interest on the outstanding loans under such agreements
to be due and payable. Following acceleration under the 8.125%
Debentures, (i) the trustee under the indenture governing the
Senior Secured Notes, or holders of at least 25% in principal
amount of the outstanding Senior Secured Notes, may, by notice to
Trico Shipping, declare the principal of and accrued but unpaid
interest on the Senior Secured Notes to be due and payable
immediately and (ii) the trustee under the indenture governing our
3% senior convertible debentures due 2027, or holders of at least
25% in principal amount of the outstanding 3% Debentures, may
provide us with a notice of default under the 3% Debentures and,
if we fail to make the 8.125% Payment within 30 calendar days of
such notice, such trustee or such holders of the 3% Debentures
may, by notice to us, declare the principal of and accrued but
unpaid interest on the 3% Debentures to be due and payable
immediately," Trico said.

At March 31, 2010, the Company had total assets of $1,013,628,000
against total liabilities of $985,940,000, resulting in
stockholders' equity of $27,688,000.  The March 31, 2010 balance
sheet showed strained liquidity: The Company had total current
assets of $154,954,000 against total current liabilities of
$218,619,000.

                     About Trico Marine Group

Based in The Woodlands, Texas, The Trico Marine Group (NASDAQ:
TRMA) -- http://www.tricomarine.com/-- is an integrated provider
of subsea, trenching and marine support vessels and services.
Trico's towing and supply division provides a broad range of
marine support services to the oil and gas industry through use of
its diversified fleet of vessels including the transportation of
drilling materials, supplies and crews to drilling rigs and other
offshore facilities; towing drilling rigs and equipment, and
support for the construction, installation, repair and maintenance
of offshore facilities.  Trico's subsea services and
trenching/installation divisions control a well equipped fleet of
vessels and operate a fleet of modern ROVs and trenching and other
subsea protection equipment.  The Trico Marine Group has a global
presence with operations in the North Sea, West Africa, Mexico,
Brazil and Southeast Asia.


UNIFI INC: To Redeem 11.5% Senior Secured Notes Due 2014
--------------------------------------------------------
Unifi Inc. is calling for redemption on June 30, 2010, an
aggregate principal amount of $15,000,000 of its outstanding 11.5%
Senior Secured Notes due 2014, in accordance with the terms of the
indenture agreement dated May 26, 2006.  Pursuant to the terms of
the Indenture, the redemption price for the Notes will be 105.75%
of the principal amount of the redeemed Notes, plus accrued and
unpaid interest.  Following completion of the redemption, the
aggregate principal amount of the Notes that will remain
outstanding will be $163.7 million.

A formal notice of redemption will be sent separately to the
affected holders of the Notes, in accordance with the terms of the
Indenture.  The Company plans to finance this redemption using
borrowings under its revolving credit facility and domestic
operating cash.  As of May 25, 2010, the Company has approximately
$71 million of availability on its revolving credit facility.
This redemption is expected to result in a one-time charge for
early extinguishment of debt in the Company's fiscal 2011 first
quarter of $1.1 million (of which $0.3 million is a non-cash
charge), or about $0.02 cents per share.

                         About Unifi

Unifi, Inc. (NYSE: UFI) -- http://www.unifi.com/and
http://www.repreve.com/-- is a diversified producer and processor
of multi-filament polyester and nylon textured yarns and related
raw materials.  The Company adds value to the supply chain and
enhances consumer demand for its products through the development
and introduction of branded yarns that provide unique performance,
comfort and aesthetic advantages.  Key Unifi brands include, but
are not limited to: AIO(R) - all-in-one performance yarns,
SORBTEK(R), A.M.Y.(R), MYNX(R) UV, REPREVE(R), REFLEXX(R),
MICROVISTA(R) and SATURA(R). Unifi's yarns and brands are readily
found in home furnishings, apparel, legwear, and sewing thread, as
well as industrial, automotive, military, and medical
applications.

As reported by the Troubled Company Reporter on November 20, 2009,
Moody's Investors Service revised Unifi, Inc.'s ratings outlook to
stable from negative.  Moody's affirmed the company's Caa1
Corporate Family and Probability of Default Ratings, and the Caa2
rating on its senior secured notes due 2014.


U.S. CONCRETE: Court Approves Disclosure Statement
--------------------------------------------------
U.S. Concrete, Inc. disclosed that the U.S. Bankruptcy Court has
approved its Disclosure Statement at a hearing held on June 3 in
Delaware.  The Court also scheduled a July 23, 2010, hearing
regarding confirmation of the Company's Plan of Reorganization.
The Company expects to begin soliciting votes on its proposed Plan
shortly.

"The Court's approval of the Disclosure Statement marks the next
important step toward completing the Company's restructuring plan
in an orderly and timely manner," said Michael W. Harlan,
President and Chief Executive Officer of U.S. Concrete.  "We are
confident our Plan of Reorganization will be confirmed at the
hearing in July and expect to emerge from this process shortly
thereafter, well positioned to continue as a leading competitor in
our markets."

As previously announced, the Company's proposed restructuring
provides for the conversion of approximately $272 million of
principal amount of 8.375% Senior Subordinated Notes due 2014 into
equity in the reorganized company.  Trade creditors are currently
being paid in full in the ordinary course and are expected to be
unaffected by the restructuring.

                       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 AEROSPACE: Posts $1.7 Million Net Loss for March 31 Quarter
--------------------------------------------------------------
U.S. Aerospace Inc. filed its quarterly report on Form 10-Q,
reporting a $1.7 million net loss on $557,690 of net revenues for
the three months ended March 31, 2010, compared with a net loss of
$2.6 million on $1.0 million of net revenues during the same
period in 2009.

The Company's balance sheet at March 31, 2010, showed $6.0 million
in total assets and $11.5 million in total liabilities, for a
stockholders' deficit of $5.4 million.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?6433

U.S. Aerospace, Inc. -- http://www.USAerospace.com-- is a
publicly traded aerospace and defense contractor based in Southern
California. U.S. Aerospace is an emerging world-class supplier to
the U.S. Department of Defense, U.S. Air Force, Lockheed Martin
Corporation (NYSE: LMT - News), The Boeing Company (NYSE: BA -
News), L-3 Communications Holdings, Inc. (NYSE: LLL - News), the
Middle River Aircraft Systems subsidiary of General Electric
Company (NYSE: GE - News), and other aerospace companies,
commercial aircraft manufacturers and prime defense contractors.
The Company supplies aircraft assemblies, structural components
and highly-engineered, precision-machined details for commercial
and military aircraft.  It is also a leading manufacturer and
remanufacturer of specialized aircraft machining tools, including
vertical boring mills and large Vertical Turning Centers used to
manufacture the largest jet engines, airplane landing gear, and
other precision components.  U.S. Aerospace has offices and
production facilities in Santa Fe Springs and Rancho Cucamonga,
California.


VALASSIS: Appoints Thomas J. Reddin to its Board of Directors
-------------------------------------------------------------
Valassis appointed Thomas J. Reddin, former LendingTree.com Chief
Executive Officer (CEO) and current owner of Red Dog Ventures, to
the Valassis Board of Directors, effective June 3, 2010. Red Dog
Ventures is a venture capital company focused on helping start-up
and early digital companies get to the next level of growth.

Throughout his career, Reddin has held senior leadership positions
at several organizations. Prior to joining LendingTree.com, the
nation's leading online lending exchange, Reddin spent 17 years in
the consumer packaged goods (CPG) industry including 12 years at
Kraft General Foods in various capacities and five years at Coca-
Cola USA where he ran the Coca-Cola brand as Vice President of
Consumer Marketing, along with other responsibilities. In 1999,
Reddin became LendingTree.com's Chief Marketing Officer and
launched the successful "When Banks Compete, You Win" advertising
campaign.  He then increased his role as President and Chief
Operating Officer helping the company go public as it endured the
collapse of the dot-com industry and in 2005, he was named
LendingTree.com's CEO.  After LendingTree.com, Reddin became CEO
of Richard Petty Motorsports, a top five Nascar team that fielded
four cars in the Sprint Cup Series.  The team achieved three wins
in 2008 and expanded from three to four teams in 2009.

Reddin also has served on the board of directors of R.H. Donnelley
Corporation (now Dex One Corporation), The Charlotte Housing Trust
Fund, the Charlotte Heart Walk and Junior Achievement of the
Central Carolinas.  He is currently a member of the board of
trustees of Queens University of Charlotte.

"Tom Reddin brings a wealth of branding and digital media
experience to our board," said Alan F. Schultz, Valassis Chairman,
President and CEO.  "We believe Tom will help accelerate the
development of our digital business and provide expertise in
making RedPlum a dominant consumer brand recognized for delivering
value to shoppers how, when and where they want."

Reddin is a graduate of the University of North Carolina at Chapel
Hill and received his master's of business administration with
distinction from New York University.


                       About Valassis

Valassis is one of the nation's leading media and marketing
services companies, offering unparalleled reach and scale to more
than 15,000 advertisers.  Its RedPlum media portfolio delivers
value on a weekly basis to over 100 million shoppers across a
multi-media platform -- in-home, in-store and in-motion.  Through
its interactive offering -- redplum.com -- consumers will find
compelling national and local deals online.  Headquartered in
Livonia, Michigan with approximately 7,000 associates in 28 states
and eight countries, Valassis is widely recognized for its
associate and corporate citizenship programs, including its
America's Looking for Its Missing Children(R) program.  Valassis
companies include Valassis Direct Mail, Inc., Valassis Canada,
Promotion Watch, Valassis Relationship Marketing Systems, LLC and
NCH Marketing Services, Inc.

As reported by the TCR on Feb. 3, 2010, Standard & Poor's Ratings
Services placed its 'B+' corporate credit rating for Livonia,
Michigan-based Valassis Communications Inc., along with all
associated issue-level ratings, on CreditWatch with positive
implications.


VIEWCREST INVESTMENTS: Wants Reorganization Case Dismissed
----------------------------------------------------------
Viewcrest Investments, LLC, asks the U.S. Bankruptcy Court for the
District of Oregon to dismiss its Chapter 11 case.

Madras, Oregon-based Viewcrest Investments, LLC, filed for Chapter
11 bankruptcy protection on March 18, 2010 (Bankr. D. Ore Case No.
10-32146).  Charles Thomas Boardman, Esq., who has an office in
Portland, Oregon, assists the Company in its restructuring effort.
The Company listed $10,000,001 to $50,000,000 in assets and
$500,001 to $1,000,000 in liabilities.


VIEWCREST INVESTMENTS: Taps Thomas Boardman as Bankruptcy Counsel
-----------------------------------------------------------------
Viewcrest Investments, LLC, asks the U.S. Bankruptcy Court for the
District of Oregon for permission to employ Thomas Boardman, Esq.
as counsel.

Mr. Boardman will represent the Debtor in the Chapter 11
proceedings.

Mr. Boardman tells the Court that a member of Debtor, Robert
Harris, agreed to be responsible with his personal funds for
payment of all services rendered.  No money from the estate will
be used to pay the counsel.

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

Mr. Broadman can be reached at:

     1607 N.E. 41st Avenue
     Portland, OR 97232
     Tel: (503) 274-1874
     Fax: (503) 241-3585
     E-mail: tomboardman@comcast.net

Madras, Oregon-based Viewcrest Investments, LLC, filed for Chapter
11 bankruptcy protection on March 18, 2010 (Bankr. D. Ore Case No.
10-32146).  The Company listed $10,000,001 to $50,000,000 in
assets and $500,001 to $1,000,000 in liabilities.


VIKING SYSTEMS: Posts $295,450 Net Loss for Qtr. Ended March 31
---------------------------------------------------------------
Viking Systems, Inc., reported a 26% increase in sales to
$1,915,073 for the quarter ended March 31, 2010, and a net loss of
$295,450 or ($0.01) per share.

Jed Kennedy, Viking Systems' President and Chief Executive
Officer, commented, "We are pleased by our solid first quarter
results.  Our OEM sales continue to demonstrate strong growth
while providing a healthy foundation that allows us to continue
the development of our Next Generation 3DHD vision system."

                       Financial Results

Sales. Sales were $1,915,073 for the three months ended March 31,
2010 and $1,521,228 for the three months ended March 31, 2009,
representing an increase of  26%. The increase in sales was due to
higher demand of the Company's OEM products.

Gross Profit. Gross profit increased 36% for the three months
ended March 31, 2010 as compared with the same period in 2009.
Gross margin was 26% of sales for the first quarter of 2010
compared with 24% of sales for the first quarter of 2009.  The
increase in gross margin percentage for 2010 is due to a favorable
sales mix of higher margin products as well as higher production
volumes resulting in lower per unit manufacturing costs.

Operating Expenses.  Viking Systems incurred total operating
expenses of $796,420, for the three months ended March 31, 2010
compared with $775,549 for the three months ended March 31, 2009.
Excluding non-cash stock-based compensation expense, total
operating expenses for the three months ended March 31, 2010 and
2009 were $708,563 and $663,881, respectively. This represents an
increase of $44,682, or 7%, in operating expenses.  This increase
in total operating expenses  is primarily due to increased
research and development related expenses.

Selling and Marketing Expense. Selling and marketing expenses were
$206,603 for the three months ended March 31, 2010 and $256,070
for the three months ended March 31, 2009.  This represents a
decrease of $49,467 or 19%.  This decrease is primarily due to
lower depreciation expense related to demonstration equipment as
such equipment became fully depreciated during 2009.

Research and Development Expense.  The Company had research and
development expenses of $206,781 for the three months ended March
31, 2010 and $153,165 for the three months ended March 31, 2009,
representing an increase of $53,616 or 35%.  The increase in
research and development expense occurred primarily due to the
development costs associated with our next generation 3D
visualization system including the hiring of a Vice President of
Research and Development in January 2010.

General and Administrative Expense.  General and administrative
expenses include costs for administrative personnel, legal and
accounting expenses and various public company expenses. General
and administrative expenses were $383,036 for the three months
ended March 31, 2010 and $366,314 for the three months ended March
31, 2009, representing an increase of $16,722 or 5%.  This
increase was primarily due to increased public company and legal
costs.  The increase in legal costs included costs associated with
filing new patent applications.

Operating loss. As a result of increased sales and higher margins
the Company has reduced its operating loss by $111,861. The
operating loss was $295,486 for the quarter ended March 31, 2010
compared with $407,347 for the same period in 2009. The operating
loss before non-cash charges was $169,359 for the quarter ended
March 31, 2010 compared with a loss of  $198,692 for the same
period.

                      About Viking Systems

Based in Westborough, Massachusetts, Viking Systems, Inc. (OTCBB:
VKNG.OB) -- http://www.vikingsystems.com/-- is a developer,
manufacturer and marketer of visualization solutions for complex
minimally invasive surgery.  The Company partners with medical
device companies and healthcare facilities to provide surgeons
with proprietary visualization systems enabling minimally invasive
surgical procedures, which reduce patient trauma and recovery
time.

At March 31, 2010, the Company had total assets of $3 million
against total liabilities, all current, of $2.1 million, resulting
in stockholders' equity of $847,854.

The report from Viking Systems, Inc.'s independent registered
public accounting firm, Squar, Milner, Peterson, Miranda &
Williamson, LLP, dated February 22, 2010, includes a going concern
explanatory paragraph which states that factors relating to the
Company's net losses and working capital concerns raise
substantial doubt the Company's ability to continue as a going
concern.  Viking Systems said it will need to generate significant
additional revenue to achieve profitability and it may require
additional financing during 2010.  "The going concern explanatory
paragraph in the independent auditor's report emphasizes the
uncertainty related to our business as well as the level of risk
associated with an investment in our common stock," Viking Systems
said.


VLADMIR VILCHITSA: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Joint Debtors: Vladmir Vilchitsa
               Olga Vilchitsa
               5435 President Ave
               North Highlands, CA 95660

Bankruptcy Case No.: 10-34626

Chapter 11 Petition Date: June 3, 2010

Court: United States Bankruptcy Court
       Eastern District of California (Sacramento)

Judge: Christopher M. Klein

Debtor's Counsel: Alberto G. Montefalcon, Jr., Esq.
                  980 9th St #1600
                  Sacramento, CA 95814
                  Tel: (916) 449-9529

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

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

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

The petition was signed by Vladmir Vilchitsa and Olga Vilchitsa.


W T DENNIS: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Joint Debtors: W T Dennis, Jr.
               Deborah M. Dennis
               1156 S. Joe Wilson Road
               Cedar Hill, TX 75104

Bankruptcy Case No.: 10-33891

Chapter 11 Petition Date: May 31, 2010

Court: U.S. Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Harlin DeWayne Hale

Debtor's Counsel: Bill Bronson, Esq.
                  Bronson Law Firm, PC
                  16475 Dallas Pkwy, Suite 345
                  Addison, TX 75001-6345
                  Tel: (972) 770-2660
                  Fax: (972) 371-5650
                  E-mail: billbronson@bronsonlegal.com

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

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

According to the schedules, the Joint Debtors say that assets
total $2,292,473 while debts total $4,337,903.

  [REDACTED -- Apr. 23. 2011]

The petition was signed by the Joint Debtors.


WESTERN WIND: Files Form 20-F; Posts C$5 Million Net Loss in 2009
-----------------------------------------------------------------
Western Wind Energy Corp. filed on May 27, 2010, its annual report
on Form 20-F for the year ended December 31, 2009.

The Company reported a net loss of C$5.0 million on C$2.8 million
of revenue for 2009, compared with a net loss of C$2.3 million on
C$5.1 million of revenue for 2008.  The decrease in energy sales
was primarily due to a 55% decrease in the average price per MWh
offset by a 10% increase in production, and a 10% increase in the
value of the U.S. dollar.  The decrease in the average price was
caused by a decrease in natural gas prices.

The Company's balance sheet as of December 31, 2009, showed
C$29.2 million in assets, C$4.4 milliom of liabilities, and
$24.8 million of stockholders' equity.

"These audited consolidated financial statements have been
prepared on a going concern basis which assumes that the Company
will be able to realize assets and discharge liabilities in the
normal course of business.  In recent years, income and cash flows
from income-producing activities have been insufficient to offset
cash used for project development expenses.  The Company has been
successful in attracting additional capital to continue
development and to maintain liquidity.  As the Company proceeds to
develop its further business opportunities, cash provided by
operations will need to be augmented by additional sources of
capital."

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

               http://researcharchives.com/t/s?644e

Based in Vancouver, Canada, Western Wind Energy is a vertically
integrated renewable energy electrical production company that
currently owns over 500 wind turbines with 34.5 MW of rated
capacity and a further 131MW of expansion power purchase
agreements in the States of California and Arizona.  Western Wind
further owns additional development assets for both Solar and Wind
Energy in California, Arizona, Ontario, Canada and has a
development team in the Commonwealth of Puerto Rico.


WOODCREST CLUB: Plan Outline Hearing Continued until June 22
------------------------------------------------------------
The Hon. Dorothy Eisenberg of the U.S. Bankruptcy Court for the
Eastern District of New York has continued until June 22, 2010, at
10:00 a.m., the hearing on approval of Disclosure Statement
explaining The Woodcrest Club, Inc.'s proposed Plan of
Liquidation.  The hearing will be held at Courtroom 760 Central
Islip, New York.

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

As reported in the Troubled Company Reporter on April 19, 2010,
according to the Disclosure Statement, the Plan provides for the
auction of the Debtor's assets.  The Debtor relates that the
proceeds of the sale will provide the Debtor funds with which to
(a) pay 100% of allowed unsecured creditor claims with interest
from the petition date; and (b) establish a disputed claims
reserve with cash sufficient to pay the full amount of disputed
claims.  The Debtor also expects that its bondholders will receive
full payment as provided by their respective bonds.

Under the Plan, the Debtor will pay Class 1 and 3 Claims,
administrative claims and professional fees in cash after the
effective date with cash on hand from the closing of the sale of
the Debtor's property.

Payments to be made to time insurance on account of Class 2(a)
Claim and the DIP Lenders on account of their Class 2(b) Claims
will be made at the closing of the sale of the Debtor's real
property.

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

                  About The Woodcrest Club, Inc.

Headquartered in Syosset, New York, The Woodcrest Club, Inc.,
operates storage units.  The Company filed for Chapter 11
bankruptcy protection on December 10, 2009 (Bankr. E.D. N.Y. Case
No. 09-79481).  Kenneth P. Silverman, Esq., and Gerard R. Luckman,
Esq., at Silverman Acampora LLP assist 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.


XERIUM TECHNOLOGIES: AS Investors Owns 13.7% of Common Stock
------------------------------------------------------------
AS Investors, LLC, et al., disclosed that as of May 25, 2010, they
may be deemed to beneficially own shares of Xerium Technologies,
Inc.'s common stock, $0.001 par value per share:

                                         Shares
  Reporting                              Beneficially
  Person                                 Owned         Percentage*
  ---------                              ------------  -----------
AS Investors, LLC                         2,050,464       13.7%
American Securities Partners V, L.P.      2,050,464       13.7%
American Securities Partners V(B), L.P.   2,050,464       13.7%
American Securities Partners V(C), L.P.   2,050,464       13.7%
American Securities Partners V, LLC       2,050,464       13.7%
American Securities LLC                   2,050,464       13.7%

*Based on 14,969,895 share of common stock outstanding as of
May 25, 2010, as reported in Xerium's current report on Form 8-K
filed with the Securities and Exchange Commission on Ma6 28, 2010.

A full-text copy of AS Investors, LLC's Schedule 13D is available
for free at http://researcharchives.com/t/s?644a

                     About Xerium Technologies

Based in Raleigh, North Carolina, Xerium Technologies, Inc. (NYSE:
XRM), manufactures and supplies two types of consumable products
used primarily in the production of paper: clothing and roll
covers.  The Company, which operates around the world under a
variety of brand names, utilizes a broad portfolio of patented and
proprietary technologies to provide customers with tailored
solutions and products integral to production, all designed to
optimize performance and reduce operational costs.  With 32
manufacturing facilities in 13 countries around the world, Xerium
has approximately 3,300 employees.

Xerium Technologies and certain subsidiaries filed for Chapter 11
on March 30, 2010 (Bankr. D. Del. Lead Case No. 10-11031).  Judge
Kevin J. Carey presides over the cases.  John J. Rapisardi, Esq.;
George A. Davis, Esq.; and Sharon J. Richardson, Esq., at
Cadwalader, Wickersham & Taft LLP; and Mark D. Collins, Esq., at
Richards, Layton & Finger, P.A., serve as bankruptcy counsel.
Brian Fox, Michelle Campbell, and Michael Hartley at AlixPartners,
LLC, serve as the Debtors' restructuring advisors.  Stephen Ledoux
and Daniel Gilligan at Rothschild Inc. serve as the Debtors'
investment bankers.  Garden City Group Inc. is the Debtors' claims
agent.  Xerium Technologies disclosed total assets of $693,511,000
and total debts of $813,168,000 in its petition.

Judge Kevin J. Carey of the U.S. Bankruptcy Court for the
District of Delaware confirmed the Prepackaged Chapter 11 Plan of
Reorganization filed by Xerium Technologies, Inc., and its debtor
affiliates on May 12, 2010, after determining that the Plan
satisfies the requirements of Section 1129(a) of the Bankruptcy
Code.  On May 25, 2010, the Plan became effective and the Company
and the debtor subsidiaries emerged from Chapter 11.


XERIUM TECHNOLOGIES: Carl Marks Owns 9.2% of Common Stock
---------------------------------------------------------
Carl Marks Management Company, L.P., et al., disclosed that as of
May 25, 2010, they may be deemed to beneficially own shares of
Xerium Technologies, Inc.'s common stock, $0.001 par value per
share:

                                         Shares
  Reporting                              Beneficially
  Person                                 Owned         Percentage
  ---------                              ------------  ----------
Carl Marks Management Company, L.P.       1,381,956       9.2%
Andrew M. Boas                            1,381,956       9.2%
Robert C. Ruocco                          1,381,956       9.2%
James Forbes Wilson                       1,381,956       9.2%

Based upon information obtained from Xerium Technologies, there
were issued and outstanding 14,969,895 shares of common stock as
of June 3, 2010.

A full-text copy of Carl Marks' Schedule 13D is available for free
at http://researcharchives.com/t/s?644b

                     About Xerium Technologies

Based in Raleigh, North Carolina, Xerium Technologies, Inc. (NYSE:
XRM), manufactures and supplies two types of consumable products
used primarily in the production of paper: clothing and roll
covers.  The Company, which operates around the world under a
variety of brand names, utilizes a broad portfolio of patented and
proprietary technologies to provide customers with tailored
solutions and products integral to production, all designed to
optimize performance and reduce operational costs.  With 32
manufacturing facilities in 13 countries around the world, Xerium
has approximately 3,300 employees.

Xerium Technologies and certain subsidiaries filed for Chapter 11
on March 30, 2010 (Bankr. D. Del. Lead Case No. 10-11031).  Judge
Kevin J. Carey presides over the cases.  John J. Rapisardi, Esq.;
George A. Davis, Esq.; and Sharon J. Richardson, Esq., at
Cadwalader, Wickersham & Taft LLP; and Mark D. Collins, Esq., at
Richards, Layton & Finger, P.A., serve as bankruptcy counsel.
Brian Fox, Michelle Campbell, and Michael Hartley at AlixPartners,
LLC, serve as the Debtors' restructuring advisors.  Stephen Ledoux
and Daniel Gilligan at Rothschild Inc. serve as the Debtors'
investment bankers.  Garden City Group Inc. is the Debtors' claims
agent.  Xerium Technologies disclosed total assets of $693,511,000
and total debts of $813,168,000 in its petition.

Judge Kevin J. Carey of the U.S. Bankruptcy Court for the
District of Delaware confirmed the Prepackaged Chapter 11 Plan of
Reorganization filed by Xerium Technologies, Inc., and its debtor
affiliates on May 12, 2010, after determining that the Plan
satisfies the requirements of Section 1129(a) of the Bankruptcy
Code.  On May 25, 2010, the Plan became effective and the Company
and the debtor subsidiaries emerged from Chapter 11.


ZALE CORP: Citibank to Terminate Merchant Services Agreement
------------------------------------------------------------
Zale Corporation said that Citibank (South Dakota), N.A., had
provided notice that Citibank would terminate the Merchant
Services Agreement dated July 10, 2000, between Citibank and two
of the Company's wholly-owned subsidiaries, unless the Company
paid Citibank approximately $6 million on or before April 1, 2010,
for a shortfall to the minimum volume of credit sales as set forth
in the agreement.

Through prior agreements dated March 29, 2010 and April 29, 2010,
Citibank and the Company agreed to extend the April 1, 2010
payment deadline to May 31, 2010.  On May 28, 2010, Citibank and
the Company entered into an agreement to extend the May 31, 2010
deadline to June 15, 2010.

The Company and Citibank have entered into negotiations for a
replacement for the Agreement, and in connection with the most
recent extension the Company agreed to negotiate exclusively with
Citibank through June 15, 2010.

                         About Zale Corp.

Dallas, Texas-based Zale Corporation (NYSE: ZLC) --
http://www.zalecorp.com/-- is a specialty retailer of diamonds
and other jewelry products in North America, operating roughly
1,900 retail locations throughout the United States, Canada and
Puerto Rico, as well as online.  Zale Corporation's brands include
Zales Jewelers, Zales Outlet, Gordon's Jewelers, Peoples
Jewellers, Mappins Jewellers and Piercing Pagoda.  Zale also
operates online at www.zales.com, www.zalesoutlet.com and
www.gordonsjewelers.com

As reported by the Troubled Company Reporter on February 10, 2010,
The Deal.com's Sara Behunek reported that analysts said bankruptcy
looms for Zale if it fails to restructure its debt and put in
place a solid merchandising strategy.


ZIFF DAVIS: Acquired by Digital Media Exec Shah & Great Hill
------------------------------------------------------------
Ziff Davis has been acquired by former Time Inc. executive Vivek
Shah in partnership with Boston-based Great Hill Partners.  The
nine properties being acquired are PCMag.com, ExtremeTech,
GearLog, GoodCleanTech, DL.tv, AppScout, CrankyGeeks, Smart Device
Central and TechSaver.com, which reach more than 7 million users
per month.

The acquisition represents the first step in building a new
digital media company that specializes in producing and
distributing content for consumers making important buying
decisions.

"This is an unusual opportunity to acquire a recognized category
leader with a very deep team of talent that has already fully
transitioned to digital," said Mr. Shah, who began Friday as CEO
of the new Ziff Davis.  "Ziff Davis is an incredible foundation
off which to build an exciting new digital media company focused
on delivering fantastic content to our audience and unprecedented
opportunities to marketers."

Mr. Shah, in more than 14 years at Time Inc., created one of the
company's most successful digital ventures in CNNMoney.com, the
2nd largest financial site on the Web.  Mr. Shah also oversaw some
of the company's other large digital businesses, including
Time.com and SI.com, and previously served as the president of
Fortune and Money magazines.  An active member of the digital
media community, Mr. Shah serves on or has served on the boards of
TheStreet.com, ShareThis and the Interactive Advertising Bureau,
and on the advisory boards of AdSafe Media and Outbrain.

"This stable of really sound media properties is a fantastic
starting point to building a new digital media company," said
Chris Gaffney, Managing Partner of Great Hill Partners.  "Having a
talented, experienced digital media pioneer like Vivek made us
even more eager to participate."

One of the most attractive assets of the company is Ziff Davis
Labs, the largest and first computer testing lab in the industry,
Ziff Davis Labs provides objective, benchmark-based product
testing run by industry-leading analysts. For many in the tech
industry, ratings from Ziff Davis properties are considered the
industry gold-standard.  Continuing to deliver and distribute this
increasingly valuable and objective source of information to
consumers who are "in market" is a key value driver of Ziff Davis.

GCA Savvian Advisors acted as exclusive financial advisor to Ziff
Davis on this transaction. Specific financial terms of the
acquisition are not being disclosed.

                     About Great Hill Partners

Great Hill Partners -- http://www.greathillpartners.com/-- is an
investment firm that manages more than $2.7 billion in capital and
focuses on investing in growth companies operating in the business
and consumer services, media, transaction processing and software
industries.  Great Hill Equity Partners IV, L.P. and its
affiliates target equity investments of $50 million to
$150 million.

                         About Ziff Davis

Headquartered in New York, Ziff Davis -- http://www.ziffdavis.com/
-- is a digital media company specializing in the technology
market, reaching more than 7 million highly engaged in-market
buyers and influencers every month.  Ziff Davis sites, which
feature trusted and comprehensive evaluations of the newest and
hottest products, include PCMag.com, ExtremeTech, GearLog,
GoodCleanTech, DL.tv, AppScout, CrankyGeeks, Smart Device Central
and TechSaver.com.

The company and six debtor-affiliates filed for bankruptcy
protection on March 5, 2008 (Bankr. S.D.N.Y. Case No. 08-10768).
Carey D. Schreiber, Esq., at Winston & Strawn, LLP, represents the
Debtors in their restructuring efforts.

The Court confirmed the Debtors' Second Amended Plan of
Reorganization on June 17, 2008.  The Debtors emerged from
bankruptcy protection on July 1, 2008.


* Jim Lawrence Appointed CEO of Rothschild North America
--------------------------------------------------------
The Rothschild Group disclosed a new management structure in North
America designed to help take the Group forward over the next
decade and building on the success achieved to date.  With
immediate effect, Jim Lawrence has been appointed Chief Executive
Officer of Rothschild North America, the Group's US and Canadian
Financial Advisory and Asset Management businesses.  David de
Rothschild will continue as Executive Chairman of RNA.  Jim will
also become Co-Head of Global Investment Banking, alongside Nigel
Higgins and Olivier Pecoux, who are both based in Europe.

Jim Lawrence, who has a deep understanding of the advisory
business as one of the founding partners and former Chairman of
the successful LEK Partnership, joins Rothschild from Unilever
where he most recently held the position of Executive Director and
Chief Financial Officer; prior to that he was Vice Chairman at
General Mills.  He has a long track history of working in
multinational businesses, having also spent time in the US and in
Europe in senior executive positions with Northwest Airlines,
PepsiCo, Bain & Company and The Boston Consulting Group over the
course of his career.

Rothschild also announced that Christopher Lawrence has been
appointed Deputy Chairman of Global Investment Banking to focus
his considerable skills on developing, nurturing and widening
Rothschild's client base in North America.  David Resnick has been
appointed Chairman of Global Financing Advisory and in this role
he will help further integrate and develop Rothschild's successful
Debt Advisory, Restructuring and Equity Advisory businesses around
the world, all of which have grown substantially in recent years.

Announcing the appointment, David de Rothschild, Chairman of the
Rothschild Group, said, "We see tremendous opportunities in North
America to build upon the success we have quietly achieved over
recent years and we think Jim's experience is ideal to help us
realise those opportunities to the fullest.  We are committed to
growing our footprint in North America and these changes will
facilitate the development of our Investment Banking business and
the consolidation and development of our major existing and new US
and Canadian client relationships."

Nigel Higgins said, "Jim is a proven manager of big companies and
leader of professional services firms. His appointment will
strengthen our efforts to act as trusted, independent advisor at
the most senior levels in North America.  He will bring to
Rothschild and to our clients great international experience -
encompassing the US, Europe and Emerging Markets -  together with
his track record as a business leader and in founding and growing
a successful client advisory firm.  Jim's arrival will build on
the considerable strengths, particularly in M&A and Restructuring,
that we already have in North America."

Jim Lawrence said, "Rothschild is an excellent firm with a strong
reputation here in the US and around the world.  The opportunity
for us in North America is outstanding and I look forward to
continuing to build the firm and to helping to achieve its
potential."


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------
                                                          Total
                                               Total     Share-
                                    Total    Working   Holders'
                                   Assets    Capital     Equity
  Company           Ticker          ($MM)      ($MM)      ($MM)
  -------           ------         ------    -------   --------
AUTOZONE INC        AZO US        5,452.8     (293.1)    (462.0)
LORILLARD INC       LO US         2,902.0      718.0      (37.0)
DUN & BRADSTREET    DNB US        1,699.5     (454.1)    (778.3)
ALLIANCE DATA       ADS US        7,919.8    3,352.2      (53.6)
NAVISTAR INTL       NAV US        9,126.0    1,277.0   (1,622.0)
MEAD JOHNSON        MJN US        1,996.7      319.9     (583.7)
BOARDWALK REAL E    BEI-U CN      2,332.1        -        (57.6)
TAUBMAN CENTERS     TCO US        2,572.3        -       (494.8)
BOARDWALK REAL E    BOWFF US      2,332.1        -        (57.6)
CHOICE HOTELS       CHH US          360.6       (6.3)    (115.0)
LINEAR TECH CORP    LLTC US       1,615.8      742.7      (50.7)
SUN COMMUNITIES     SUI US        1,173.3        -       (118.3)
WEIGHT WATCHERS     WTW US        1,093.0     (408.5)    (700.1)
CABLEVISION SYS     CVC US        7,364.2       54.8   (6,201.5)
IPCS INC            IPCS US         559.2       72.1      (33.0)
WR GRACE & CO       GRA US        3,957.9    1,177.5     (234.4)
PETROALGAE INC      PALG US           4.7      (13.9)     (48.0)
TENNECO INC         TEN US        3,034.0      203.0      (14.0)
UNISYS CORP         UIS US        2,711.8      320.6   (1,221.7)
UAL CORP            UAUA US      19,952.0   (1,019.0)  (2,887.0)
DISH NETWORK-A      DISH US       8,689.0      305.1   (1,850.3)
HEALTHSOUTH CORP    HLS US        1,716.1       90.6     (474.5)
MOODY'S CORP        MCO US        2,003.3     (138.9)    (534.0)
NATIONAL CINEMED    NCMI US         620.4      106.9     (462.7)
VECTOR GROUP LTD    VGR US          743.1      231.5      (13.4)
PROTECTION ONE      PONE US         562.9       (7.6)     (61.8)
CHENIERE ENERGY     CQP US        1,883.2       37.6     (491.7)
VENOCO INC          VQ US           799.5       10.6     (127.6)
ARVINMERITOR INC    ARM US        2,769.0      345.0     (877.0)
MERU NETWORKS IN    MERU US          88.8        0.5       (4.1)
METALS USA HOLDI    MUSA US         655.4      294.1      (43.0)
THERAVANCE          THRX US         249.9      196.6     (113.0)
REGAL ENTERTAI-A    RGC US        2,588.9     (168.9)    (260.7)
TALBOTS INC         TLB US          825.8     (261.9)    (185.6)
JUST ENERGY INCO    JE-U CN       1,353.1     (513.7)    (503.2)
INCYTE CORP         INCY US         502.7      332.9     (114.4)
LIBBEY INC          LBY US          776.9      128.0      (18.3)
DOMINO'S PIZZA      DPZ US          427.6       92.8   (1,290.0)
CARDTRONICS INC     CATM US         449.3      (36.6)      (2.3)
WORLD COLOR PRES    WC CN         2,641.5      479.2   (1,735.9)
REVLON INC-A        REV US          765.8       63.9   (1,027.2)
GRAHAM PACKAGING    GRM US        2,126.4      187.6     (629.0)
TEAM HEALTH HOLD    TMH US          797.4       52.1      (58.6)
EPICEPT CORP        EPCT SS           6.3        0.2      (12.7)
UNITED RENTALS      URI US        3,584.0       30.0      (48.0)
COMMERCIAL VEHIC    CVGI US         276.8      105.5      (10.7)
CC MEDIA-A          CCMO US      17,400.0    1,279.2   (7,054.8)
KNOLOGY INC         KNOL US         641.7       30.9      (28.3)
FORD MOTOR CO       F US        195,485.0   (7,269.0)  (5,437.0)
WORLD COLOR PRES    WCPSF US      2,641.5      479.2   (1,735.9)
WORLD COLOR PRES    WC/U CN       2,641.5      479.2   (1,735.9)
AFC ENTERPRISES     AFCE US         114.6       (2.0)     (11.5)
ALIMERA SCIENCES    ALIM US          16.3        3.5      (42.7)
FORD MOTOR CO       F BB        195,485.0   (7,269.0)  (5,437.0)
AMER AXLE & MFG     AXL US        1,967.6       (0.3)    (545.4)
INTERMUNE INC       ITMN US         190.9      102.8      (21.3)
US AIRWAYS GROUP    LCC US        7,808.0     (445.0)    (447.0)
CENTENNIAL COMM     CYCL US       1,480.9      (52.1)    (925.9)
SALLY BEAUTY HOL    SBH US        1,531.5      366.1     (553.1)
BLUEKNIGHT ENERG    BKEP US         303.6      (15.3)    (147.2)
AMR CORP            AMR US       25,525.0   (1,407.0)  (3,892.0)
JAZZ PHARMACEUTI    JAZZ US         106.7      (31.2)     (69.0)
WABASH NATIONAL     WNC US          249.0     (154.6)     (62.4)
RSC HOLDINGS INC    RRR US        2,669.6      (66.1)      (9.8)
SANDRIDGE ENERGY    SD US         2,971.7      (33.9)    (171.3)
HALOZYME THERAPE    HALO US          65.2       48.9       (3.2)
NPS PHARM INC       NPSP US         140.4       95.2     (227.6)
RURAL/METRO CORP    RURL US         286.2       38.7     (100.9)
CENVEO INC          CVO US        1,563.5      212.7     (180.6)
LIN TV CORP-CL A    TVL US          780.6       22.9     (164.2)
ACCO BRANDS CORP    ABD US        1,062.7      240.1     (118.0)
SINCLAIR BROAD-A    SBGI US       1,576.6       48.1     (187.8)
HOVNANIAN ENT-B     HOVVB US      2,029.1    1,358.9     (137.0)
PALM INC            PALM US       1,007.2      141.7       (6.2)
NEXSTAR BROADC-A    NXST US         603.0       35.3     (179.7)
MANNKIND CORP       MNKD US         243.3        8.5     (100.9)
PDL BIOPHARMA IN    PDLI US         358.3      (83.5)    (501.1)
PHIBRO ANIMAL HE    PAHC LN         418.9      182.2       (9.6)
QWEST COMMUNICAT    Q US         19,362.0     (585.0)  (1,120.0)
VIRGIN MOBILE-A     VM US           307.4     (138.3)    (244.2)
EASTMAN KODAK       EK US         7,178.0    1,588.0      (53.0)
EXELIXIS INC        EXEL US         284.2      (32.7)    (199.3)
WARNER MUSIC GRO    WMG US        3,752.0     (557.0)    (116.0)
GENCORP INC         GY US         1,018.7      114.6     (268.0)
HOVNANIAN ENT-A     HOV US        2,029.1    1,358.9     (137.0)
CONSUMERS' WATER    CWI-U CN        895.2       (5.3)    (254.9)
GREAT ATLA & PAC    GAP US        2,827.2      201.3     (396.4)
GLG PARTNERS-UTS    GLG/U US        403.5      155.5     (285.9)
GLG PARTNERS INC    GLG US          403.5      155.5     (285.9)
CUMULUS MEDIA-A     CMLS US         323.1      (32.4)    (372.3)
IDENIX PHARM        IDIX US          61.0       16.8      (20.7)
ARRAY BIOPHARMA     ARRY US         131.5       21.5     (109.5)
ARIAD PHARM         ARIA US          50.4       (8.2)    (110.8)
PRIMEDIA INC        PRM US          236.5       (2.2)    (103.3)
CHENIERE ENERGY     LNG US        2,736.6      212.8     (468.7)
ALEXZA PHARMACEU    ALXA US          67.1       24.2      (18.8)
MAGMA DESIGN AUT    LAVA US         122.1       14.4       (4.3)
CINCINNATI BELL     CBB US        2,589.6       (3.3)    (634.6)
SEALY CORP          ZZ US         1,011.9      173.1      (92.3)



                           *********

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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