TCR_Public/100712.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Monday, July 12, 2010, Vol. 14, No. 191

                            Headlines


155 EAST: Names Neil Kiefer as Director of Tropicana Finance
ADVANSTAR INC: S&P Hikes Outlook on 'CCC+' Rating to Stable
ALL B EXCAVATING: Case Summary & 20 Largest Unsecured Creditors
AMERICAN HOME: Bear Stearns Won't Get $1.8 Mil. Mortgage Payment
ANGIOTECH PHARMACEUTICALS: Gets Non-Compliance From Nasdaq Market

APPLEJACK ART: Case Summary & 20 Largest Unsecured Creditors
APPLETON PAPERS: Inks Stock Purchase Deal With NEX Performance
ARVCO CAPITAL: Files Schedules of Assets and Liabilities
BAY NATIONAL BANK: Closed; Bay Bank, FSB Assumes All Deposits
BIOMET INC: Bank Debt Trades at 4% Off in Secondary Market

BIOVEST INTERNATIONAL: Cherry Bekaert Raises Going Concern Doubt
BIOVEST INTERNATIONAL: Files Form 10-Qs for Last 5 Quarters
BLACK GAMING: Files Final Plan of Reorganization
BLOCKBUSTER INC: Enters Employment Deal With CEO James Keyes
BLOCKBUSTER INC: Reports Low Vote Turnout for Stock Proposal

BURNS HEATING: Case Summary & 20 Largest Unsecured Creditors
CALPINE CORP: Bank Debt Trades at 0.83% Off in Secondary Market
CAPRI I: Section 341(a) Meeting Scheduled for August 19
CAPRIUS INC: Repurchases Shares of Convertible Preferred Stock
CATALYST PAPER: Closes Elk Falls Paper Mill Permanently

CENTAUR LLC: U.S. Trustee Fights Break-Up Fee for Asset Sale
CENTRO NP: Fitch Affirms 'CCC' IDR; Hires Firm to Work on Plan
CHRYSLER LLC: Appeal Against Asset Sale Order Denied
CINEMARK INC: Bank Debt Trades at 3% Off in Secondary Market
CISTERA NETWORKS: Delays Filing of Annual Report for Fiscal 2010

CISTERA NETWORKS: Announces August 5 Shareholder Conference
CLAIRE'S STORES: Bank Debt Trades at 17% Off in Secondary Market
CLEAR CHANNEL: Bank Debt Trades at 24% Off in Secondary Market
COHR HOLDINGS: Moody's Affirms, Withdraws 'Caa2' Corporate Rating
COLETO CREEK: Bank Debt Trades at 11% Off in Secondary Market

CONTECH CONSTRUCTION: Bank Debt Trades at 22% Off
CORD BLOOD: Directors Grants Stock Options to Two Exec. Officers
CRUCIBLE MATERIALS: Seeks Settlement Deal on $1MM CERCLA Claims
CULLIGAN INTERNATIONAL: Bank Debt Trades at 20% Off
DELTA PETROLEUM: Selects Carl Lakey as Chief Executive Officer

DOLLAR THRIFTY: BlackRock Inc. Pares Equity Stake to 4.98%
DOLLAR THRIFTY: Sees Corporate EBITDA of $70MM-$75MM for 2010
DOLPHIN DIGITAL: Posts $1.6 Million Net Loss in Q1 2010
DYNCORP INTERNATIONAL: S&P Withdraws 'BB' Corporate Credit Rating
EASTMAN HOMES: Case Summary & 4 Largest Unsecured Creditors

EDHSAN MILLWORKS: Case Summary & 20 Largest Unsecured Creditors
ENABLE HOLDINGS: Posts $921,000 Net Loss in 2010 First Quarter
EMMIS COMMUNICATIONS: Investors to Vote Against Smulyan Merger
ENERGY FUTURE: Consummates Private Placement Exchange Deal
ENVIROSOLUTIONS: Court Approves Supplement to Disclosure Statement

FORD MOTOR: Names Former BoA CFO James Hance as Director
ETERNAL ENERGY: Posts $331,700 Net Loss in First Quarter of 2010
ETERNAL ENERGY: Sells 75% Working Interest in West Ranch Holding
F & F, LLC:: Files Amended Plan of Reorganization Outline
FAIRFAX CROSSING: Section 341(a) Meeting Scheduled for August 6

FAIRFAX CROSSING: Taps Logan Yumkas as Bankruptcy Counsel
FAIRFAX CROSSING: Wants to Hire Richard G. Gay as Local Counsel
FAIRPOINT COMMS: New Hampshire Regulators Approve Plan
FIRST INDUSTRIAL: Cut by S&P to 'B+' on Less-Than-Adequate Cash
FOUNTAIN VILLAGE: Has Cash Collateral Access Until July 16

FOUNTAIN VILLAGE: Amends Plan of Reorganization Outline
FX REAL ESTATE: Posts $10.9 Million Net Loss in Q1 of 2010
GATEHOUSE MEDIA: Bank Debt Trades at 60% Off in Secondary Market
GENCORP INC: Reports $13.5 Net Income for 2nd Quarter of 2010
GENERAL GROWTH: Gets $400 Million New Loan From Barclays

GEO GROUP: Moody's Assigns 'Ba3' Rating on $750 Mil. Senior Loan
GLEN ROSE: Filing of Annual Report for FY 2010 to be Delayed
GRAFTON PROPERTIES: Case Summary & 5 Largest Unsecured Creditors
GRAPHIC PACKAGING: S&P Raises Corporate Credit Rating to 'BB-'
HAMBONE DOG: Case Summary & 7 Largest Unsecured Creditors

HAWKER BEECHCRAFT: Bank Debt Trades at 20% Off in Secondary Market
HEMIWEDGE INDUSTRIES: Lenders Acquire All Outstanding Debt
HERCULES OFFSHORE: Bank Debt Trades at 13% Off in Secondary Market
HOME NATIONAL BANK: Closed; RCB Bank Assumes All Deposits
HOWARD RIFAS: Can Hire Brown Van Horn as Bankruptcy Counsel

IDEAL FEDERAL SAVINGS BANK: Closed; FDIC Pays Out Insured Deposits
INNOVATIVE DESIGNS: Posts $53,350 Net Loss in Q2 Ended April 30
ISC BUILDING: Voluntary Chapter 11 Case Summary
ISLE OF CAPRI: Bank Debt Trades at 7% Off in Secondary Market
JOHN HAMILTON: Voluntary Chapter 11 Case Summary

JOHN MILLER: Case Summary & 11 Largest Unsecured Creditors
LAS VEGAS SANDS: Bank Debt Trades at 12% Off in Secondary Market
MARIA BOCCASINI: Case Summary & 6 Largest Unsecured Creditors
MARVIN KATZ: Case Summary & 9 Largest Unsecured Creditors
MERUELO MADDUX: BofA Criticizes Latest Reorganization Plan

MICHAELS STORES: Bank Debt Trades at 8% Off in Secondary Market
MILLENNIUM MULTIPLE: U.S. Trustee Forms Creditors Committee
MILLENNIUM MULTIPLE: Parties-in-Interest Wants Case Dismissed
MILLENNIUM MULTIPLE: Ch. 11 Trustee to Probe IRS Ruling on Plan
MORTGAGEBROKERS.COM: Posts $81,700 Net Loss in Q1 2010

MPG OFFICE: Units Ink Omnibus Amendment to Loan With BoA
NEFF CORP: U.S. Trustee Amends Members of Creditors Committee
NEFF CORP: Files Schedules of Assets and Liabilities
NEIMAN MARCUS: Bank Debt Trades at 7% Off in Secondary Market
NORTH AMERICAN PETROLEUM: Wins Final Use of Cash Collateral

NORTH AMERICAN TECHNOLOGIES: Wants to Disburse Carve-Outs
OPTI CANADA: To Hold Conference to Review 2nd Quarter Results
ORIENTAL TRADING: Cut by S&P to 'D' on Missed Interest Payment
OSI RESTAURANT: Bank Debt Trades at 15% Off in Secondary Market
OTTER TAIL: Fitch Affirms Preferred Stock Rating at 'BB'

OTTER TAIL: Plan Confirmation Hearing Scheduled for August 18
PAPILLON ACQUISITION: Moody's Assigns 'B2' Corp. Family Rating
PASADENA PLAYHOUSE: Court Approves Plan of Reorganization
PCS EDVENTURES!.COM: CEO Maher Gets 4,167 Shares
PENN NATIONAL: Bank Debt Trades at 4% Off in Secondary Market

PHILADELPHIA NEWSPAPERS: Pension Fund Loses Bid to Halt Sale
POINT BLANK: Creditors Object to Johnson Associates Appointment
PTS CARDINAL: Bank Debt Trades at 11% Off in Secondary Market
RAISSI REAL: Section 341(a) Meeting Scheduled for July 28
REALOGY CORP: Bank Debt Trades at 17% Off in Secondary Market

ROBERT GRIFFIN: Case Summary & 18 Largest Unsecured Creditors
ROTHSTEIN ROSENFELDT: Fla. Court to Decide on Who Controls Assets
ROTHSTEIN ROSENFELDT: Partner Faces $9-Mil. Suit by Ch. 11 Trustee
ROTHSTEIN ROSENFELDT: AmEx Fighting Bankruptcy Trustee's Claims
SARATOGA RESOURCES: Posts $5.8 Million Net Loss for Q1 2010

SK HAND: Section 341(a) Meeting Scheduled for August 5
SK HAND: U.S. Trustee Appoints Seven Members to Creditors Panel
SK HAND: Taps Much Shelist as Bankruptcy Counsel
SKILLED HEALTHCARE: Moody's Downgrades Corp. Family Rating to 'B2'
SKILLED HEALTHCARE: S&P Junks Corporate Credit Rating From 'B+'

SKINNY NUTRITIONAL: Posts $1.0 Million Net Loss for Q1 2010
SONICWALL INC: Moody's Assigns 'B2' Corporate Family Rating
SOUTHVIEW'S LEGACY: Case Summary & 13 Largest Unsecured Creditors
SPANISH BROADCASTING: Raised by S&P to 'B-' on Adequate Cash
SPHERIS INC: Creditors Seek to Tap CoMetrics as Financial Advisor

SS&C TECHNOLOGIES: Moody's Upgrades Corp. Family Rating to 'B1'
STATION CASINOS: Creditors File Objection to Disclosure Statement
STEPHEN MELLGREN: Case Summary & 14 Largest Unsecured Creditors
SUNESIS PHARMACEUTICALS: Alta Biopharma Discloses Equity Stake
SUN HEALTHCARE: Bank Debt Trades at 4% Off in Secondary Market

SUNESIS PHARMACEUTICALS: Bay City Discloses 18.96% Stake
SUNESIS PHARMACEUTICALS: CFO Bjerkholt Discloses Equity Stake
SUNESIS PHARMACEUTICALS: GEO Fund Discloses 19% Equity Stake
SUNESIS PHARMACEUTICALS: R&D Chief Ketchum Gets 337,000 Shares
SYNTAX-BRILLIAN: Trust Accuses Preferred Bank of Aiding Fraud

TARRAGON CORP: Emerges From Chapter 11 Bankruptcy
TC GLOBAL: Board Names Walter Schoenfeld as Director
TEXAS RANGERS: Canceling July 16 Auction for Assets
TITUS TRANSPORTATION: Proposes to Pay Employee Benefits
TOOLMEN CORP: Case Summary & 20 Largest Unsecured Creditors

TRACY PRESS: Cuts Publishing Schedule to Cut Costs
TRAI THIEN: Earns $871 in First Quarter Ended March 31
TRENTON LAND: Section 341(a) Meeting Scheduled for July 29
TRIBUNE CO: Bank Debt Trades at 41% Off in Secondary Market
TRICO MARINE: Former CEO Compofelice Forfeits Securities

TRICO MARINE: Kean Out, Cenkus In as Gen. Counsel & Secretary
TRUVO USA: Gets Court Okay to Hire Kurtzman Carson as Claims Agent
TRUVO USA: Taps Cleary Gottlieb as Bankruptcy Counsel
UNITED AIRLINES: Reports June 2010 Operational Performance
UNITED AIR LINES: Bank Debt Trades at 13% Off in Secondary Market

US CONCRETE: Teamsters Funds Fight Chapter 11 Plan
USA BANK OF PORT CHESTER: Closed; New Century Assumes Deposits
US FOODSERVICE: Bank Debt Trades at 15% Off in Secondary Market
USA CAPITAL: Wells Fargo Accused of Looting $60-Million
VENETIAN MACAU: Bank Debt Trades at 3% Off in Secondary Market

VERTAFORE INC: Moody's Assigns 'B2' Corporate Family Rating
VERTAFORE INC: S&P Assigns Corporate Credit Rating at 'B'
WASHINGTON MUTUAL: Judge Delays Hearing on Plan, Examiner
WASTE-TRON INC: Case Summary & 20 Largest Unsecured Creditors
WLH INVESTMENTS: Case Summary & 2 Largest Unsecured Creditors

WOLF CREEK: Files Schedules of Assets and Liabilities

* Banks Increasingly Extending Terms of Souring Real Estate Loans

* BOND PRICING -- For Week From July 5 to 9, 2010


                            ********


155 EAST: Names Neil Kiefer as Director of Tropicana Finance
------------------------------------------------------------
Neil Kiefer was appointed to the management board of 155 East
Tropicana LLC and to the board of directors of the Company's
wholly-owned subsidiary 155 East Tropicana Finance Corp. to fill
the seats vacated by the resignation of John T. Blakely.  Based on
this appointment, certain required notifications have been made to
the Nevada gaming authorities.

Mr. Kiefer was appointed to the Company's management board by
Florida Hooters, LLC, owner of 66.67% of the Company's outstanding
membership interests.  Pursuant to the Company's Amended and
Restated Operating Agreement, Florida Hooters, LLC has the right
to select 6 members of the Company's management board.  Mr. Kiefer
will remain on the Company's management board until (i) his
resignation, or (ii) his removal, with or without cause, by
Florida Hooters, LLC.

Mr. Kiefer currently serves as the Company's Chief Executive
Officer and as the President of 155 East Tropicana Finance Corp.
See Item 13 of the Company's Form 10-K for the year ended December
31, 2009 for a description of related-party transactions between
the Company and Mr. Kiefer, which disclosure is incorporated
herein by reference.

                      About 155 East Tropicana

Las Vegas, Nev.-based 155 East Tropicana, LLC, was formed in
June 2004 to acquire the Hotel San Remo Casino and Resort, a
casino hotel located in Las Vegas, Nevada, from Eastern & Western
Hotel Corporation.  The Hotel San Remo was renovated and re-
branded and is now known as Hooters Casino Hotel.

                           *     *     *

According to the TCR on April 22, 2010, Moody's Investors Service
has withdrawn the ratings of 155 East Tropicana LLC for business
reasons.  These ratings withdrawn include the 'Ca' Corporate
family rating.

The Company's balance sheet at March 31, 2010, showed
$122.7 million in total assets and $171.8 million in total
liabilities, for a stockholder's deficit of $49.0 million.


ADVANSTAR INC: S&P Hikes Outlook on 'CCC+' Rating to Stable
-----------------------------------------------------------
On July 8, 2010, Standard & Poor's Ratings Services revised its
rating outlook on Woodland Hills, Calif.-based Advanstar Inc. to
stable from negative.  Ratings on the company, including the
'CCC+' corporate credit rating, were affirmed.  S&P rates
Advanstar Inc. on a consolidated basis with operating subsidiary
Advanstar Communications Inc.

"S&P's 'CCC+' corporate credit rating on Advanstar reflects its
expectation that the company's leverage will remain high, interest
coverage will remain thin, and liquidity will be limited," said
Standard & Poor's credit analyst Tulip Lim.  "It also reflects
Advanstar's fashion industry concentration and exposure to
unfavorable secular pressures facing its publishing segment."

The company is an independent business-to-business trade show
operator and publisher serving four industry segments: fashion,
licensing, life sciences, and power sports.  Trade publishing
accounts for roughly 35% of total revenue and is sensitive to
cyclical advertising demand in the company's end markets because
of a lack of circulation revenue.  The publishing segment is also
facing secular pressures in light of competition from Internet-
based media, which has low barriers to entry.  The company also
produces trade shows and is heavily dependent on its MAGIC events,
which are the dominant U.S. apparel industry trade shows.

While the publishing division remains weak, operating performance
has started to pick up for the trade show division.  During the
first quarter of 2010, Advanstar's revenue declined 2.5%, while
EBITDA increased 20.9%, reflecting cost reductions and growth in
the higher-margin exposition segment.  The exposition segment
reported a 3.5% revenue increase during the quarter, primarily due
to improved performance of its MAGIC trade show.  The publishing
segment reported an 18.1% revenue drop.  Lease-adjusted debt to
EBITDA for the 12 months ended March 31, 2010, was steep, at
roughly 12.4x, but down from 14.0x at fiscal year-end Dec. 31,
2009.  For the same period, unadjusted EBITDA coverage of total
interest expense, which includes the mark-to-market gain or loss
on interest rate swaps, was scant at 1.0x.

For the 12 months ended March 31, 2010, discretionary cash flow
was still negative, but the deficit narrowed compared to fiscal
2009.  The lower interest burden from the restructuring completed
on Sept. 25, 2009, which reduced debt by roughly 40%, along with
the roll-off of swap agreements, could boost interest coverage and
help discretionary cash flow reach breakeven this year, as long as
EBITDA increases do not reverse.


ALL B EXCAVATING: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: All B Excavating Company
        60 State Highway 335
        Sheridan, WY 82801

Bankruptcy Case No.: 10-20799

Chapter 11 Petition Date: July 6, 2010

Court: United States Bankruptcy Court
       District of Wyoming (Cheyenne)

Judge: Peter J. McNiff

Debtor's Counsel: Paul Hunter, Esq.
                  2616 Central Avenue
                  Cheyenne, WY 82001
                  Tel: (307) 637-0212
                  E-mail: attypaulhunter@prodigy.net

Scheduled Assets: $2,147,264

Scheduled Debts: $2,869,471

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/wyb10-20799.pdf

The petition was signed by Lance E. Phillips, president.


AMERICAN HOME: Bear Stearns Won't Get $1.8 Mil. Mortgage Payment
----------------------------------------------------------------
Bankruptcy Law360 reports that a federal appeals court has ruled
that Bear Stearns International Ltd. will not get a $1.8 million
monthly distribution from a statutory trust that American Home
Mortgage Holdings Inc. won the rights to in an interpleader action
stemming from AHM's bankruptcy.

                        About American Home

Based in Melville, New York, American Home Mortgage Investment
Corp. (NYSE: AHM) -- http://www.americanhm.com/-- was a mortgage
real estate investment trust engaged in the business of investing
in mortgage-backed securities and mortgage loans resulting from
the securitization of residential mortgage loans originated and
serviced by its subsidiaries.

American Home Mortgage and seven affiliates filed for Chapter 11
protection on August 6, 2007 (Bankr. D. Del. Case Nos. 07-11047
through 07-11054).  James L. Patton, Jr., Esq., Joel A. Waite,
Esq., and Pauline K. Morgan, Esq. at Young, Conaway, Stargatt &
Taylor LLP represent the Debtors.  Epiq Bankruptcy Solutions LLC
acts as the Debtors' claims and noticing agent.  The Official
Committee of Unsecured Creditors selected Hahn & Hessen LLP as
its counsel.  As of March 31, 2007, American Home Mortgage's
balance sheet showed total assets of $20,553,935,000, total
liabilities of $19,330,191,000.

American Home filed a de-consolidated plan of liquidation on
August 15, 2008.  The former home mortgage lender's liquidating
Chapter 11 plan was confirmed in February 2009.


ANGIOTECH PHARMACEUTICALS: Gets Non-Compliance From Nasdaq Market
-----------------------------------------------------------------
Angiotech Pharmaceuticals Inc. received a notice from The Nasdaq
Stock Market stating that Angiotech is not in compliance with
Nasdaq's Listing Rule 5450(a)(1) because the bid price for
Angiotech's common shares closed below the required minimum of
$1.00 per share for the previous 30 consecutive business days (May
21, 2010 to July 2, 2010).

he notice also indicated that, in accordance with Nasdaq's Listing
Rule 5810(c)(3)(A), Angiotech has a grace period of 180 calendar
days, until January 3, 2011, to regain compliance with Rule
5450(a)(1).  If at any time during this grace period the bid price
for Angiotech's common shares closes at $1.00 per share or more
for a minimum of 10 consecutive business days, Nasdaq will notify
Angiotech that it has regained compliance with Rule 5450(a)(1).

In the event that Angiotech does not regain compliance with Rule
5450(a)(1) prior to the expiration of the grace period, Nasdaq
will notify Angiotech that its common shares are subject to
delisting.  Alternatively, Angiotech may be eligible for an
additional grace period if it meets the initial listing standards,
with the exception of bid price, for The Nasdaq Capital Market.

As previously disclosed, Angiotech's management and Board of
Directors have been and are continuing to evaluate a broad range
of restructuring, reorganization and strategic activities.

Angiotech believes it may consummate such a transaction prior to
the end of the 180-day grace period to resolve this listing
deficiency, but there can be no assurance that any such
transaction will be consummated or that the consummation of any
such transaction will resolve the listing deficiency.

                  About Angiotech Pharmaceuticals

Vancouver, Canada-based Angiotech Pharmaceuticals, Inc. (NASDAQ:
ANPI, TSX: ANP) -- http://www.angiotech.com/-- is a global
specialty pharmaceutical and medical device company.  Angiotech
discovers, develops and markets innovative treatment solutions for
diseases or complications associated with medical device implants,
surgical interventions and acute injury.

                           *     *     *

Angiotech Pharmaceuticals carries a 'CCC' corporate credit rating
from Standard & Poor's.


APPLEJACK ART: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Applejack Art Partners, Inc.
        450 Wallace Road
        Manchester, VT 05255

Bankruptcy Case No.: 10-10911

Chapter 11 Petition Date: July 6, 2010

About the Business: Applejack Art Partners manufactures fine art
                    prints and sells sports memorabilia.  It
                    acquired Bruce McGaw Graphics in August 2009,
                    gaining the exclusive rights to images from
                    the Walt Disney Co., the Museum of Modern Art
                    and Andy Warhol.  Applejack is represented by
                    the Bethel law firm of Obuchowski and Emens-
                    Butler.  The Company said it is selling its
                    assets while in Chapter 11.

Court: United States Bankruptcy Court
       District of Vermont (Rutland)

Judge: Colleen A. Brown

Debtor's Counsel: Jennifer Emens-Butler, Esq.
                   E-mail: jennifer@oeblaw.com
                  Raymond J Obuchowski, Esq.
                   E-mail: ray@oeblaw.com
                  P.O. Box 60
                  Bethel, VT 05032-0060
                  Tel: (802) 234-6244
                  Fax: (802) 234-6245

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/vtb10-10911.pdf

The petition was signed by Jack P. Appelman, president.


APPLETON PAPERS: Inks Stock Purchase Deal With NEX Performance
--------------------------------------------------------------
Appleton Papers Inc. entered into a stock purchase agreement with
NEX Performance Films Inc., an entity affiliated with Mason Wells
Buyout Fund II, Limited Partnership, pursuant to which the Company
has agreed to sell, and Buyer has agreed to purchase, all of the
outstanding capital stock of American Plastics Company, Inc. and
New England Extrusion Inc. for a cash purchase price of
$58,000,000.

Of the $58,000,000 purchase price, $56,000,000 will be paid to the
Company at closing and $2,000,000 will be held in escrow on behalf
of the Company for 12 months to satisfy potential claims under the
Stock Purchase Agreement.  The Stock Purchase Agreement contains
customary representations and warranties, indemnification
provisions and closing conditions.  The Stock Purchase Agreement
contains termination rights, including provisions that provide
each party with the right to terminate the Stock Purchase
Agreement if the closing has not occurred on or prior to July 30,
2010.

                        About Appleton Papers

Appleton Papers Inc. is a 100%-owned subsidiary of Paperweight
Development Corp.

Appleton Papers Inc. -- http://www.appletonideas.com/--
headquartered in Appleton, Wisconsin, produces carbonless,
thermal, security and performance packaging products.  Appleton
has manufacturing operations in Wisconsin, Ohio, Pennsylvania, and
Massachusetts, employs approximately 2,200 people and is 100%
employee-owned.

Appleton Papers carries a 'B' corporate credit rating from
Standard & Poor's.

The Company's balance sheet at April 4, 2010, showed $806.4
million in total assets, $156.3 million total current liabilities,
$583.3 million long-term debt, $50.5 million post-retirement
benefits other than pension, $102.3 million accrued pension, $14.5
million environmental liability, and $5.6 million other long-term
liabilities, for a redeemable common stock of $120.3 million,
accumulated deficit of $127.38 million and $99.2 million of
accumulated other comprehensive loss.


ARVCO CAPITAL: Files Schedules of Assets and Liabilities
--------------------------------------------------------
ARVCO Capital Research, LLC, filed with the U.S. Bankruptcy Court
for the District of Nevada its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property           $24,075,638
  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                                        $1,120,102
                                 -----------      -----------
        TOTAL                    $24,075,638       $1,120,102

Stateline, Nevada-based ARVCO Capital Research, LLC, together with
its affiliates, filed for Chapter 11 bankruptcy protection on June
9, 2010 (Bankr. D. Nev. Case No. 10-52249).  Stephen R. Harris,
Esq., at Belding, Harris & Patroni, Ltd., assists the Company in
its restructuring effort.  The Company listed $10,000,001
$50,000,000 in assets and $1,000,001 to $10,000,000 in
liabilities.


BAY NATIONAL BANK: Closed; Bay Bank, FSB Assumes All Deposits
-------------------------------------------------------------
Bay National Bank of Baltimore, Md., was closed on Friday, July 9,
2010, by the Office of the Comptroller of the Currency, which
appointed the Federal Deposit Insurance Corporation as receiver.
To protect the depositors, the FDIC entered into a purchase and
assumption agreement with Bay Bank, FSB of Lutherville, Md., to
assume all of the deposits of Bay National Bank.

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

As of March 31, 2010, Bay National Bank had around $282.2 million
in total assets and $276.1 million in total deposits.  Bay Bank,
FSB did not pay the FDIC a premium for the deposits of Bay
National Bank.  In addition to assuming all of the deposits of the
failed bank, Bay Bank, FSB agreed to purchase essentially all of
the assets of the failed bank.

Customers who have questions about the transaction can call the
FDIC toll-free at 1-800-323-6111.  Interested parties also can
visit the FDIC's Web site at:

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

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $17.4 million.  Compared to other alternatives, Bay Bank,
FSB's acquisition was the "least costly" resolution for the FDIC's
DIF.  Bay National Bank is the 87th FDIC-insured institution to
fail in the nation this year, and the second in Maryland.  The
last FDIC-insured institution closed in the state was Waterfield
Bank, Germantown, on March 5, 2010.


BIOMET INC: Bank Debt Trades at 4% Off in Secondary Market
----------------------------------------------------------
Participations in a syndicated loan under which Biomet, Inc., is a
borrower traded in the secondary market at 95.65 cents-on-the-
dollar during the week ended Friday, July 9, 2010, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents a drop of 0.34 percentage points
from the previous week, The Journal relates.  The Company pays 300
basis points above LIBOR to borrow under the facility.  The bank
loan matures on March 25, 2015, and carries Moody's B1 rating and
Standard & Poor's BB- rating.  The debt is one of the biggest
gainers and losers among 204 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

Biomet, Inc. -- http://www.biomet.com/-- based in Warsaw,
Indiana, is one of the leading manufacturers of orthopedic
implants, specializing in reconstructive devices.  Through its EBI
subsidiary, the firm also sells electrical bone-growth stimulators
and external devices, which are attached to bone and protrude from
the skin.  Subsidiary Biomet Microfixation markets implants and
bone substitute material for craniomaxillofacial surgery.  In 2007
Biomet was acquired by a group of private equity firms for more
than $11 billion.


BIOVEST INTERNATIONAL: Cherry Bekaert Raises Going Concern Doubt
----------------------------------------------------------------
Cherry Bekaert & Holland LLP of Tampa, Florida, and expressed
substantial doubt about Biovest International Inc.'s ability to
continue as a going concern after auditing the Company's balance
sheet dated Sept. 30, 2009, and 2008, and Sept. 30, 2008, and
2007.

According to the firm, the Company incurred cumulative net losses
since inception of approximately:

    i) $131.0 million and cash used in operating activities of
       approximately $10.2 million during the two years ended
       Sept. 30, 2009, and had a working capital deficiency of
       approximately $54.3 million at Sept. 30, 2009; and

   ii) $117 million and cash used in operating activities of
       approximately $19.1 million during the two years ended
       Sept. 30, 2008, and had a working capital deficiency of
       approximately $35.0 million at Sept. 30, 2008.

The Company's balance sheet for 2009 and 2008 showed:

                       2009          2008
                    -----------   -----------
Total Assets        $4,073,000    $5,063,000
Total Liabilities   56,560,000    42,941,000
Total Deficit      $56,464,000   $42,310,000

The Company's income statement for 2009 and 2008 disclosed:

                         For the Years Ended September 30
               ---------------------------------------------------
                   2009          2008         2008         2007
               -------------------------  ------------------------
Total Revenue   $3,656,000    $5,275,000   $5,275,000   $5,004,000
Net Loss        14,654,000    20,640,000   20,640,000   44,333,000

A full-text copy of the Company's Form 10-K for 2009 is available
for free at http://ResearchArchives.com/t/s?663c

A full-text copy of the Company's Form 10-K for 2008 is available
for free at http://ResearchArchives.com/t/s?663d

                  About Biovest International

Based in Tampa, Florida, Biovest International Inc. (Other OTC:
BVTI) -- http://www.biovest.com/-- is a pioneer in the
development of advanced individualized immunotherapies for life-
threatening cancers of the blood system.  Biovest is a majority-
owned subsidiary of Accentia Biopharmaceuticals Inc., with its
remaining shares publicly traded.

Biovest filed for Chapter 11 bankruptcy protection on November 10,
2008 (Bankr. M.D. Fla. Case No. 08-17796).


BIOVEST INTERNATIONAL: Files Form 10-Qs for Last 5 Quarters
-----------------------------------------------------------
Biovest International Inc. filed with the Securities and Exchange
Commission its quarterly reports on Form 10-Q for the quarterly
periods ended March 31, 2010, Dec. 31, 2009, June 30, 2009,
March 31, 2009, and Dec. 31, 2008.

                         Total         Total          Total
   Quarter              Assets    Liabilities       Deficit
   -------         -----------   ------------   -----------
   March 2010       $4,199,000    $94,238,000   $90,039,000
   December 2009     4,558,000     68,446,000    63,888,000
   June 2009         3,995,000     54,854,000    54,997,000
   March 2009        4,378,000     47,886,000    47,744,000
   December 2008     4,378,000     45,134,000    45,089,000

A full-text copy of the Company's Form 10-Q for quarter ended
March 31, 2009, is available for free at:

               http://ResearchArchives.com/t/s?663e

A full-text copy of the Company's Form 10-Q for quarter ended
March 31, 2009, is available for free at:

              http://ResearchArchives.com/t/s?663f

A full-text copy of the company's Form 10-Q for quarter ended
March 31, 2009, is available for free at:

              http://ResearchArchives.com/t/s?6640

A full-text copy of the company's Form 10-Q for quarter ended
March 31, 2009, is available for free at:

              http://ResearchArchives.com/t/s?6641

A full-text copy of the company's Form 10-Q for quarter ended
March 31, 2009, is available for free at:

              http://ResearchArchives.com/t/s?6642

Based in Tampa, Florida, Biovest International Inc. (Other OTC:
BVTI) -- http://www.biovest.com/-- is a pioneer in the
development of advanced individualized immunotherapies for life-
threatening cancers of the blood system.  Biovest is a majority-
owned subsidiary of Accentia Biopharmaceuticals Inc., with its
remaining shares publicly traded.

Biovest filed for Chapter 11 bankruptcy protection on November 10,
2008 (Bankr. M.D. Fla. Case No. 08-17796).


BLACK GAMING: Files Final Plan of Reorganization
------------------------------------------------
Black Gaming, LLC, et al., filed with the U.S. Bankruptcy Court
for the District of Nevada their final Plan of Reorganization.

As reported in the Troubled Company Reporter on June 30, 2010, the
Debtors obtained confirmation of their Plan, paving the way for
the Company to emerge from Chapter 11 protection.

The key terms of the Plan include:

   * The Company's senior credit facility with Wells Fargo
     Foothill will be paid in full.

   * The Company's senior secured noteholders will exchange their
     notes and claims thereunder for a new credit facility of
     $62,500,000.

   * The Company's senior subordinated noteholders will receive
     warrants to purchase equity interests in reorganized Black
     Gaming in exchange for their notes and claims.

   * To the extent permitted under the Bankruptcy Code, general
     unsecured claims, including vendors, will be paid in cash.

   * Anthony Toti, Newport Global Advisors or one of its
     affiliates, Robert R. Black, Sr. and one or more parties to
     be designated by Michael Gaughan will contribute cash in
     excess of $18,250,000 in exchange for 100% of the new equity
     interests in reorganized Black Gaming.

   * Robert R. Black, Sr. will remain C.E.O. Anthony Toti will
     remain C.O.O., and Sean P. McKay will remain C.F.O.

According to the final Plan, on the substantial consummation date
and after completion of all steps necessary for the implementation
of the Plan, Black Gaming will be dissolved and all Black Gaming
equity interests will be cancelled and extinguished.  The New
Black Gaming organizational documents will be executed and, to the
extent required, filed with the Nevada Secretary.  The New Black
Gaming organizational documents will (i) include, among other
things, a provision prohibiting the issuance of non-voting equity
securities; (ii) authorize the issuance of New Black Gaming Equity
interests in an amount not less than the amount necessary to
permit the distributions thereof required or contemplated by the
Plan; and (iii) to the extent necessary or appropriate, include
the provisions as may be needed to effectuate and consummate the
Plan and the transactions contemplated.

Additionally, in connection with any cancellation of debt income,
Black Gaming and New Black Gaming will not make any election under
Treasury Regulation.

The Reorganized Debtors will continue to exist after the
substantial consummation date as separate entities.

A full-text copy of the final Plan is available for free at:

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

                         About Black Gaming

Headquartered in Las Vegas, Nevada, Black Gaming, LLC, is a
holding company and is an owner and operator of three gaming
entertainment properties located in Mesquite, Nevada.

The Company filed for Chapter 11 bankruptcy protection on March 1,
2010 (Bankr. D. Nev. Case No. 10-13301).  Gregory E. Garman, Esq.,
and Talitha B. Gray, Esq., at Gordon & Silver, Ltd., assist the
Company in its restructuring effort.  Kurtzman Carson Consultants
is the Company's claims and notice agent.  In its petition, the
Company listed $10,000,001 to $50,000,000 in assets and
$100,000,001 to $500,000,000 in liabilities.

The Company's affiliates -- B&BB, Inc.; R. Black, Inc.; Casablanca
Resorts, LLC; Casablanca Resorts, LLC; Oasis Interval Ownership,
LLC; Oasis Interval Management, LLC; Oasis Recreational
Properties, Inc.; RBG, LLC; and Virgin River Casino Corporation --
filed separate Chapter 11 petitions.


BLOCKBUSTER INC: Enters Employment Deal With CEO James Keyes
------------------------------------------------------------
Blockbuster Inc. entered into an employment agreement with James
W. Keyes, the Company's Chairman of the Board and Chief Executive
Officer, effective as of July 2, 2007.

Effective June 30, 2010, the Company and Mr. Keyes entered into an
amended and restated employment agreement that will govern the
terms of Mr. Keyes' employment with the Company going forward.
The amended and restated employment agreement extends the term of
Mr. Keyes' employment agreement for one year to June 30, 2011.
The amended and restated employment agreement does not increase
the annual rate of Mr. Keyes's base salary, but does provide that
Mr. Keyes will participate in the Company's Senior Executive
Annual Performance Bonus Plan and that his target annual cash
performance bonus will be equal to 100% of his base salary.

The annual bonus actually payable to Mr. Keyes may range from
0% to 300% of the target bonus based on actual performance
achievement relative to the applicable performance goals.  The
amended and restated employment agreement also provides Mr. Keyes
with a retention bonus arrangement that consists of both cash and
equity features.  The cash portion of the retention bonus is equal
to $650,000, which is payable to Mr. Keyes on June 30, 2011,
provided he remains employed on that date.

The equity portion of the retention bonus consists of an award of
1,250,000 shares of the Company's Class A common stock, which will
be issued to Mr. Keyes on June 30, 2011 under the Company's Long-
Term Management Incentive Plan, if he remains employed by the
Company on that date.  However, in the event shares of the
Company's Class A common stock are not publicly traded on the date
the equity award becomes due, Mr. Keyes will be entitled to
receive a cash payment equal to $500,000 on June 30, 2011, as long
as he is employed by the Company on that date.  The amended and
restated employment agreement also extends the term of Mr. Keyes'
outstanding stock options to seven years, but otherwise does not
affect Mr. Keyes' options.

The amended and restated employment agreement revises the good
reason termination trigger in Mr. Keyes' agreement, and will allow
Mr. Keyes to leave the employ of the Company for good reason if
his title, duties or responsibilities are significantly reduced or
his base salary or annual target bonus opportunity is materially
reduced, provided certain notice and cure requirements are
satisfied.  Upon a termination of employment by Mr. Keyes for good
reason or by the Company without cause, the amended and restated
employment agreement provides that Mr. Keyes will be entitled to
receive:

     i) accrued but unpaid base salary and vacation time,

    ii) pro-rata vesting of any outstanding equity awards held by
        Mr. Keyes that are subject solely to time-based vesting
        conditions,

   iii) the ability to exercise his vested stock options in
        accordance with the Company's Long-Term Management
        Incentive Plan,

    iv) a pro-rata annual performance bonus for the fiscal year in
        which the termination of employment occurs,

     v) a lump sum payment equal to 24 months' worth of Mr. Keyes'
        base salary, and

    vi) continued health plan eligibility for Mr. Keyes, his
        spouse and his eligible dependents for 24 months or, if
        earlier, until Mr. Keyes is eligible for comparable
        coverage under the plan of a subsequent employer.

The noncompete restrictions in Mr. Keyes' amended and restated
employment agreement have been revised so that they continue to
apply for a one year period following termination of Mr. Keyes'
employment even if he is terminated involuntarily.

                     About Blockbuster Inc.

Blockbuster Inc. is a global provider of rental and retail movie
and game entertainment.  It has a library of more than 125,000
movie and game titles.  The Company may be accessed worldwide at
http://www.blockbuster.com/

Blockbuster's quarterly report on Form 10-Q showed a net loss of
$65.4 million on $939.4 million of revenue for the 13 weeks ended
April 4, 2010, compared with net income of $27.7 million on
$1.086 billion of revenue for the 13 weeks ended April 5, 2009.

The Company's balance sheet as of April 4, 2010, showed
$1.319 billion in assets and $1.693 billion of liabilities, for a
stockholders' deficit of $374.2 million.

PricewaterhouseCoopers LLP, in Dallas, expressed substantial doubt
about the Company's ability to continue as a going concern
following Blockbuster's 2009 results.


BLOCKBUSTER INC: Reports Low Vote Turnout for Stock Proposal
------------------------------------------------------------
Blockbuster Inc. reported its preliminary tabulation figures
received from the inspector of election for the Company's 2010
annual meeting show that while the company's proposal to convert
each outstanding share of Class B common stock into Class A common
stock and the company's reverse stock split proposal each received
the overwhelming approval of votes cast, due to a low vote
turnout, the proposals did not receive the required affirmative
vote of the majority of the votes of the outstanding Class A and
Class B shares voting as a single class.  Of the approximately
289.9 million total votes outstanding, the conversion proposal
received approximately 141.2 million votes in favor and the
reverse stock split proposal received approximately 126.1 million
votes in favor.

The proposal to effect the reverse stock split was made in part to
allow the company to take action to facilitate regaining
compliance with the continued listing criteria of the NYSE, on
which both the Class A and Class B common stock currently trade.
Among such criteria is the requirement that common stock maintain
a $1.00 minimum average closing price.

In November 2009, we were notified by the NYSE that our Class A
common stock did not satisfy the NYSE's continued listing standard
that requires the average closing price of a listed security to be
no less than $1.00 per share over a consecutive 30-trading-day
period. Under the NYSE's rules, we had through the date of the
annual meeting within which to cure this deficiency.  Because the
reverse stock split proposal was not approved by the requisite
number of votes, the NYSE has informed the company that it intends
to begin the process to delist both the Class A and Class B common
stock.

At the annual meeting each of the company's director nominees was
elected, the company's "say-on-pay" proposal was approved and
the ratification of PricewaterhouseCoopers LLP to serve as the
company's independent registered public accounting firm for fiscal
2010 was approved.

                     About Blockbuster Inc.

Blockbuster Inc. is a global provider of rental and retail movie
and game entertainment.  It has a library of more than 125,000
movie and game titles.  The Company may be accessed worldwide at
http://www.blockbuster.com/

Blockbuster's quarterly report on Form 10-Q showed a net loss of
$65.4 million on $939.4 million of revenue for the 13 weeks ended
April 4, 2010, compared with net income of $27.7 million on
$1.086 billion of revenue for the 13 weeks ended April 5, 2009.

The Company's balance sheet as of April 4, 2010, showed
$1.319 billion in assets and $1.693 billion of liabilities, for a
stockholders' deficit of $374.2 million.

PricewaterhouseCoopers LLP, in Dallas, expressed substantial doubt
about the Company's ability to continue as a going concern
following Blockbuster's 2009 results.


BURNS HEATING: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Burns Heating And Cooling, LLC
        P.O. Box 13454
        Alexandria, LA 71315

Bankruptcy Case No.: 10-81013

Chapter 11 Petition Date: July 6, 2010

Court: United States Bankruptcy Court
       Western District of Louisiana (Alexandria)

Debtor's Counsel: Thomas R. Willson, Esq.
                  P.O. Drawer 1630
                  Alexandria, LA 71309-1630
                  Tel: (318) 442-8658
                  Fax: (318) 442-9637
                  E-mail: rockywillson@bellsouth.net

Scheduled Assets: $236,395

Scheduled Debts: $1,514,687

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/lawb10-81013.pdf

The petition was signed by Joseph R. Burns, owner.


CALPINE CORP: Bank Debt Trades at 0.83% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Calpine
Corporation is a borrower traded in the secondary market at 99.17
cents-on-the-dollar during the week ended Friday, July 9, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.33
percentage points from the previous week, The Journal relates.
The Company pays 550 basis points above LIBOR to borrow under the
facility, which matures on May 31, 2017.  The bank debt is not
rated by Moody's and Standard & Poor's.  The debt is one of the
biggest gainers and losers among 204 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

According to the Troubled Company Reporter on June 3, 2010,
Moody's Investors Service assigned a B1 rating to Calpine
Corporation's (B1 Corporate Family Rating) $400 million 8% senior
secured notes due 2019.  The rating outlook for Calpine is stable.

Proceeds from the offering were used to repay a portion of the
debt outstanding under the company's senior secured term loan
reducing the amount of the secured term loan that matures in March
2014 by $394 million to approximately $4.231 billion.  Calpine has
stated publicly that it plans to refinance the secured term loan
prior to its 2014 maturity, targeting a debt maturity profile that
results in approximately $2 billion or less in corporate
maturities in any given year.  Calpine began implementing this
refinancing strategy in November 2009 with a $1.2 billion 7.25%
senior secured note offering due 2017 and the completion of this
$400 million financing is a continuation of that strategy.

Headquartered in Houston, Texas, Calpine Corporation is a major
U.S. independent power company with assets of $17.5 billion at
March 31, 2010.  With the expected completion of the Conectiv
acquisition, Calpine will have aggregate generating capacity of
28,297 MW.


CAPRI I: Section 341(a) Meeting Scheduled for August 19
-------------------------------------------------------
The U.S. Trustee for Region 17 will convene a meeting of Capri I,
LLC's creditors on August 19, 2010, at 1:00 p.m.  The meeting will
be held at 300 Las Vegas Boulevard, South, Room 1500, Las Vegas,
NV 89101.

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

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

Las Vegas, Nevada-based Capri I, LLC, filed for Chapter 11
bankruptcy protection on June 30, 2010 (Bankr. D. Nev. Case No.
10-22206).  David A. Colvin, Esq., at Marquis & Aurbach, assists
the Company in its restructuring effort.  The Company listed
$50,000,001 to $100,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


CAPRIUS INC: Repurchases Shares of Convertible Preferred Stock
--------------------------------------------------------------
Caprius Inc. repurchased an aggregate of 79,031 shares of its
Series D Convertible Preferred Stock, 4,900 shares of its Series E
Convertible Preferred Stock and 17,966 shares of its Series F
Convertible Preferred Stock, together with underlying exercisable
warrants for the purchase of an aggregate of 2,469,295 shares of
Common Stock, from Special Situations Fund III QP, L. P. and
Special Situations Private Equity Fund, L.P. for $10,000.

After the sale, SSF Funds have no equity interest in the
Registrant.  In connection with their sale of securities, the SSF
Funds also waived all of the accrued dividends of the Preferred
Stock which they sold.  The Registrant estimates that the
aggregate amount of the accrued dividends waived was $484,000.

As a result of the repurchases, the Company's outstanding
Preferred Stock consists of 65,290 shares of Series D Convertible
Preferred Stock, 4,200 shares of Series E Convertible Preferred
Stock and 60,000 shares of Series F Convertible Preferred Stock.
The repurchases did not affect the currently outstanding 5,431,865
shares of Common Stock, but did reduce the number of shares
reserved for issuance upon conversion of the Preferred Stock and
exercise of warrants and options to 39,364,100 shares.

A full-text copy of the Letter Agreement is available for free at
http://ResearchArchives.com/t/s?662e

Paramus, N.Y.-based Caprius, Inc., is engaged in the infectious
medical waste disposal business, through its wholly-owned
subsidiary M.C.M. Environmental Technologies, Inc., which
developed, markets and sells the SteriMed and SteriMed Junior
compact systems that simultaneously shred and chemically disinfect
regulated medical waste, utilizing its proprietary, EPA
registered, bio-degradable chemical known as Ster-Cid.


CATALYST PAPER: Closes Elk Falls Paper Mill Permanently
-------------------------------------------------------
Catalyst Paper said it is permanently closing its Elk Falls paper
mill near Campbell River, British Columbia in September.  This
facility has been indefinitely curtailed since February 2009.

"[Tuesday's] news is a disappointing outcome for mill employees
and families, for the community, and for our business," said
Catalyst President and CEO Kevin J. Clarke.  "The steep decline in
commodity paper markets, coupled with uncompetitive labour and tax
costs were contributing factors that could not be overcome."

"Adaptation has always been the key to survival," Clarke noted,
"and the uncertainty regarding the future of this mill was
detrimental to all our operations and had to come to an end.  With
this difficult decision behind us, we can now focus our sales and
marketing strategies and production planning around mills that
still have the potential to operate competitively which is a
better basis to future-focus our business overall."

In a related decision, Catalyst also announced the permanent
closure of its paper recycling operation in Coquitlam, British
Columbia.  The facility, which supplied the company's Crofton
mill, was indefinitely idled in February due to reduced recycled
pulp requirements, combined with higher cost and constrained
availability of quality recovered paper.  All employees were laid
off at the time.

The associated asset impairment charge, including severance costs,
is estimated at $302 million and will be reflected in the
company's second quarter results.  Only a small number of
employees will continue to be required to manage and decommission
the facility resulting in approximately 100 Elk Falls employees
being immediately impacted by the permanent closure.

The Elk Falls mill began operation in 1952, and at its peak,
produced 784,000 tonnes of pulp, paper and kraft paper annually.

                       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.


CENTAUR LLC: U.S. Trustee Fights Break-Up Fee for Asset Sale
------------------------------------------------------------
Bankruptcy Law360 reports that Centaur LLC's plan to offer a
breakup fee in connection with the $7.5 million sale of its
Colorado assets has come under fire from the U.S. trustee, who
claims the move runs afoul of case precedent holding that such
fees can't be used to give a favored purchaser an advantage over
other bidders.

Indianapolis, Indiana-based, Centaur, LLC, aka Centaur Indiana,
LLC -- http://www.centaurgaming.net/-- is an company involved in
the development and operation of entertainment venues focused on
horse racing and gaming.

The Company filed for Chapter 11 bankruptcy protection on March 6,
2010 (Bankr. D. Delaware Case No. 10-10799).  Jeffrey M. Schlerf,
Esq., at Fox Rothschild LLP, assists the Company in its
restructuring effort.  The Company estimated its assets and debts
at $500,000,001 to $1,000,000,000 as of the Petition Date.


CENTRO NP: Fitch Affirms 'CCC' IDR; Hires Firm to Work on Plan
--------------------------------------------------------------
Fitch Ratings has affirmed the Issuer Default Rating and the issue
ratings for Centro NP LLC:

  -- IDR at 'CCC';
  -- $703 million senior unsecured notes at 'CCC/RR4';
  -- $305 million revolving facility at 'B+/RR1'.

Fitch has also removed the Negative Outlook as Fitch typically
does not have Outlooks for IDRs below 'B-'.

The affirmation reflects the high levels of leverage of Super LLC,
Centro NP's direct parent, on a consolidated basis.  Super LLC, in
conjunction with its parent, Centro Properties Group, has hired
advisers to work on a restructuring plan and Fitch believes that
the company will successfully address near-term debt maturities.
Super LLC faces over $3.2 billion of debt maturities in 2010,
including the cross defaulted debt renegotiated in January 2009,
namely the Super Bridge Loan ($1.7 billion at March 31, 2010),
Centro NP's revolver ($305.5 million), Residual JV New Money
Facility ($345.5 million) and the Preston Ridge Facility
($105 million).

While Centro NP is a stronger credit on a standalone basis than
its parent Super LLC, the ratings are based on the consolidated
credit profile of Super LLC due to these strong strategic,
operational and legal ties between Centro NP, Super LLC and
Residual JV, which is owned by Centro NP (49%) and Super LLC
(51%):

  -- Centro NP's revolving facility is cross defaulted with Super
     LLC's bridge loan and Residual JV's Preston Ridge Facility.

  -- Super LLC's equity interest in Centro NP collateralizes the
     Super Bridge Loan.

  -- Centro NP does not have its own Board of Directors.  Decision
     making is made on a consolidated basis by the Board of Centro
     Properties Group, Super's ultimate parent.  In addition,
     following the acquisition by CNP, Centro NP's employees were
     moved to a separate joint venture controlled by CNP for tax
     purposes and to allow employees to provide services to CNP's
     other U.S. affiliates.  As such, the company technically has
     no employees.

  -- CNP, through Super LLC, has increased Centro NP's standalone
     leverage with the transfer of unencumbered assets to
     Residual.

  -- CNP's U.S. retail portfolio, which is comprised of 600
     properties, is managed on an integrated basis by the U.S.
     management team.

  -- Proceeds from Residual JV's new money facility have been
     partly used to pay down Centro NP's debt maturities.

While Fitch does not have access to financial statements for Super
LLC, it does have access to the financial statements for Residual
JV, the equity of which is Super LLC's only other major asset
beyond its equity investment in Centro NP, as well as the balance
of Super LLC's bridge loan, its only debt.  Residual JV began
publishing financial statements as of Sept. 30, 2009 (June 30th
fiscal year end).

  -- Notwithstanding Centro NP's stronger credit profile on a
     standalone basis, its credit metrics have been deteriorating
     as a result of the gradual transfer of assets to Residual JV
     coupled with the weaknesses in the retail environment.  Since
     the acquisition of New Plan Excel Realty Trust, Inc. by CNP
     in 2007, CNP transferred 121 unencumbered assets to Residual
     JV in order to facilitate property level financing.  As of
     Dec. 31, 2009, Centro NP's consolidated portfolio was
     comprised of 150 properties ($2.4 billion of undepreciated
     book value), down from 290 properties ($3.5 billion of
     undepreciated book values at pre-merger values) as of Dec.
     31, 2006.  However, pursuant to a successful Consent
     Solicitation with bondholders in the fourth quarter of 2009,
     Centro NP is not permitted to transfer any real property to
     any unconsolidated affiliates or equity owners of Centro NP
     until January 2014.

  -- As a result of weaknesses in the retail industry, occupancy
     for Centro NP's total portfolio, including joint ventures,
     declined to 88% at Dec. 31, 2009 from 92% at Dec. 31, 2007.
     This decline was driven in large part by exposure to bankrupt
     retailers, namely Circuit City, Linen's N' Things, Goody's
     and Steve and Barry's.  Occupancy on Centro NP's consolidated
     pool of assets was 86% at Dec. 31, 2009, slightly below that
     of Residual JV (88% at Dec. 31, 2009), which reflects some
     selection bias in the assets transferred to Residual JV given
     that they were selected as part of debt negotiations with
     lenders.  Further occupancy deterioration should be somewhat
     buffered by Centro NP's historically defensive portfolio,
     with centers largely anchored by grocery stores and national
     discount chains.

On a consolidated basis, Fitch estimates that Super LLC's fixed
charge coverage (defined as recurring operating EBITDA less
straight line rents and the amortization of below market leases
and recurring capital expenditures divided by interest incurred)
was 1.7 times for the first quarter of 2010.  While this is high
for the rating, this partly reflects the benefit from low LIBOR
rates as a considerable amount of consolidated debt is floating
rate (March 31, 2010: 65% of the total) as well as low credit
spreads in relation to Super LLC's credit profile.

The ratings further reflect that Centro NP's unencumbered asset
coverage has deteriorated as a result of the transfer of
unencumbered assets to Residual JV.  The gross book value of
unencumbered assets dropped to approximately $1.3 billion at
Dec. 31, 2009, from $2.8 billion at Dec. 31, 2007.  While Centro
NP remains in compliance with its bond covenants as of March 31,
2010, unencumbered assets are comprised largely of unencumbered
real estate and equity investments in unconsolidated subsidiaries
($525 million at Dec. 31, 2009).  Fitch views the latter as weak
protection for unsecured bondholders given that in a liquidation
scenario, recoveries of equity from unconsolidated subsidiaries,
particularly its largest subsidiary, Residual JV, will likely be
limited given that Super LLC lenders have second liens on assets
within Residual JV.

The recovery ratings of Centro NP reflect Fitch's view that in the
event of a default and subsequent liquidation, Centro NP would be
in a much weaker standalone financial position than today.  Centro
NP's parent, Super LLC, is highly levered and as a result, has
transferred properties to Residual JV over time, weakening Centro
NP's financial profile and the position of bondholders.  While
there is currently a restriction on the transfer of real property
to both Super LLC and Residual JV, there are no restrictions on
the transfer of other assets, such as cash proceeds from asset
sales and refinancing.  As such, Fitch believes that at the point
of a default, Centro NP would be in breach of its unencumbered
asset covenant.  This analysis results in estimated recoveries for
the senior unsecured notes to be below average.

Centro NP is a real estate company focusing on the ownership,
management and development of community and neighborhood shopping
centers with total assets of $3.3 billion at March 31, 2010.
Centro NP operates a national portfolio of shopping centers across
the U.S. and its tenant base has historically been characterized
by a high concentration of needs-based retailers, such as
supermarkets, as well as national discount chains.  CNP is a
Melbourne-based company focused on the ownership, management, and
development of retail shopping centers.


CHRYSLER LLC: Appeal Against Asset Sale Order Denied
----------------------------------------------------
BankruptcyData.com reports that the U.S. District Court denied an
appeal filed by Crain CDJ, LLC, an Arkansas automobile dealer, and
certain Wisconsin automobile dealers of the U.S. Bankruptcy Court
order approving the sale of substantially all Company assets to an
entity known as New CarCo Acquisition.

The Court order states - among other things, "Since this Court is
bound to give Judge Gonzalez's unambiguous words their plain
meaning, see United States v. Spallone, 399 F.3d 415,421 (2d Cir.
2005), this Court interprets the Bankruptcy Court's order to mean
what it says: Appellants have 'no further rights,' whether direct
rights (to operate as a dealer of the Debtors) or indirect rights
(to resurrect precisely those terminated rights as soon as the
asset sale is consummated). The dealers whose agreements were to
be rejected clearly recognized this, having argued before the
Bankruptcy Court that allowing their franchise agreements to be
rejected would create a public safety issue by eliminating
dealerships. See Rejection Opinion, 406 B.R. at 205 & n.30. This
argument would have made no sense if the termination of dealership
rights was only expected to be temporary and short (pending
consummation of the asset sale). Moreover, as Judge Gonzalez noted
in the Enforcement Order, he rejected this argument during the
Rejection Hearing, because he found that the dealer protection
laws at issue did not fall within the 'public safety' exception-
they were 'concerned with protecting economic and commercial
interest of state franchisees,' and therefore, were preempted by
the Bankruptcy Code, leaving the court free to approve a wholesale
downsizing of the dealership network. (Enforcement Order at 8.)"

                       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)


CINEMARK INC: Bank Debt Trades at 3% Off in Secondary Market
------------------------------------------------------------
Participations in a syndicated loan under which Cinemark, Inc., is
a borrower traded in the secondary market at 96.71 cents-on-the-
dollar during the week ended Friday, July 9, 2010, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents a drop of 0.40 percentage points
from the previous week, The Journal relates.  The Company pays 325
basis points above LIBOR to borrow under the facility.  The bank
loan matures on April 30, 2016, and carries Moody's Ba3 rating
while it is not rated by Standard & Poor's.  The debt is one of
the biggest gainers and losers among 204 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

As reported by the Troubled Company Reporter on April 28, 2010,
Moody's affirmed Cinemark, Inc.'s ratings, including its B1
corporate family and probability of default ratings, and SGL-1
speculative grade liquidity rating.  The existing Ba3 senior
secured bank debt and B3 senior unsecured bond ratings for
Cinemark USA, Inc., were also affirmed.  The rating outlook
remains positive.

As a consequence of Cinemark's gradually improving operational
performance, the company's leverage and coverage measures have
also been gradually improving.  When considered in conjunction
with a solid liquidity position anchored by a substantial cash
balance that could facilitate near-term debt reduction, or
alternatively, the acquisition of additional cinema operations
that would presumably strengthen the business, Moody's continue to
maintain a positive rating outlook.  This is despite limited free
cash generation, a consequence of ongoing growth initiatives and a
dividend that consumes +/- 20% of (unadjusted) EBITDA.

Cinemark Holdings, Inc., which owns Cinemark, Inc., and
(indirectly) Cinemark USA, Inc. and is headquartered in Plano,
Texas, is the United States' third largest motion picture
exhibitor with 294 theaters and 3,830 screens in 39 states, and
internationally (in 13 countries), mainly in Mexico, South and
Central America, with a further 130 theaters and 1,066 screens.


CISTERA NETWORKS: Delays Filing of Annual Report for Fiscal 2010
----------------------------------------------------------------
Cistera Networks Inc. says the filing of its annual report on
Form 10-K for the year ended March 31, 2010, will be delayed, as
it needs additional time to finalize its financial statements in
order to insure accurate reporting of its financial condition and
results of operation for the year ended March 31, 2010.  The
Company expects to file the Form 10-K by July 14, 2010.

The Company does not anticipate any significant change in results
of operations from the corresponding period for the last fiscal
year.

                      About Cistera Networks

Based in Plano, Texas, Cistera Networks Inc. (OTC BB: CNWT)
-- http://www.cistera.com/-- is a provider of enterprise
application communications platforms and services.

The Company's balance sheet as of Dec. 31, 2009 (unaudited and
unreviewed), showed $2,160,232 in assets and $4,121,318 of
liabilities, for a stockholders' deficit of $1,961,085].

                          *     *     *

As reported in the Troubled Company Reporter on July 21, 2009,
Farmer, Fuqua & Huff, P.C., in Plano, Texas, expressed substantial
doubt about the Company's ability to continue as a going concern
in its report on the Company's financial statements for the year
ended March 31, 2009.  The independent auditors noted that the
Company has suffered recurring losses from operations and has a
net capital deficit.

The Company had a net loss of $52,366 for the nine months ended
December 31, 2009.  Also, as of December 31, 2009, the Company has
negative working capital of $2,486,537.


CISTERA NETWORKS: Announces August 5 Shareholder Conference
-----------------------------------------------------------
Cistera Networks Inc. announced in a press release Tuesday that it
will be holding a Shareholder conference on August 5, 2010.

The conference will be held at the Company's offices at Suite 160,
6509 Windcrest Drive, in Plano, Texas, from 1 p.m. to 4 p.m.
Central Time.

                      About Cistera Networks

Based in Plano, Texas, Cistera Networks Inc. (OTC BB: CNWT)
-- http://www.cistera.com/-- is a provider of enterprise
application communications platforms and services.

The Company's balance sheet as of Dec. 31, 2009 (unaudited and
unreviewed), showed $2,160,232 in assets and $4,121,318 of
liabilities, for a stockholders' deficit of $1,961,085].

                          *     *     *

As reported in the Troubled Company Reporter on July 21, 2009,
Farmer, Fuqua & Huff, P.C., in Plano, Texas, expressed substantial
doubt about the Company's ability to continue as a going concern
in its report on the Company's financial statements for the year
ended March 31, 2009.  The independent auditors noted that the
Company has suffered recurring losses from operations and has a
net capital deficit.

The Company had a net loss of $52,366 for the nine months ended
December 31, 2009.  Also, as of December 31, 2009, the Company has
negative working capital of $2,486,537.


CLAIRE'S STORES: Bank Debt Trades at 17% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which Claire's Stores,
Inc., is a borrower traded in the secondary market at 82.50 cents-
on-the-dollar during the week ended Friday, July 9, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 0.48
percentage points from the previous week, The Journal relates.
The Company pays 275 basis points above LIBOR to borrow under the
facility.  The bank loan matures on May 29, 2014, and carries
Moody's Caa2 rating and Standard & Poor's B- rating.  The debt is
one of the biggest gainers and losers among 204 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Claire's Stores, Inc., reported a net loss of $12,300,000 for the
three months ended May 1, 2010, from a net loss of $29,023,000 for
the three months ended May 2, 2009.  Net sales were $322,077,000
for the three months ended May 1, 2010, from $293,098,000 for the
three months ended May 2, 2009.

At May 1, 2010, the Company had total assets of $2,828,167,000
against total current liabilities of $189,612,000; long-term debt
of $2,297,603,000; revolving credit facility of $194,000,000;
obligations under capital leases of $17,290,000; deferred tax
liability of $121,156,000; deferred rent expense of $22,680,000;
unfavorable lease obligations and other long-term liabilities of
$34,070,000; resulting in stockholder's deficit of $48,244,000.

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

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

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


CLEAR CHANNEL: Bank Debt Trades at 24% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Clear Channel
Communications, Inc., is a borrower traded in the secondary market
at 76.39 cents-on-the-dollar during the week ended Friday, July 9,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents a drop of
0.86 percentage points from the previous week, The Journal
relates.  The Company pays 365 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Jan. 30, 2016, and
carries Moody's Caa1 rating and Standard & Poor's CCC rating.  The
debt is one of the biggest gainers and losers among 204 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

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


COHR HOLDINGS: Moody's Affirms, Withdraws 'Caa2' Corporate Rating
-----------------------------------------------------------------
Moody's Investors Service affirmed and concurrently withdrew all
the ratings of Cohr Holdings, Inc., including the company's Caa2
corporate family and probably of default ratings and Caa1 ratings
on the first lien credit facilities.

The ratings have been withdrawn because Moody's believes it lacks
adequate information to maintain a rating.

These ratings have been affirmed and concurrently withdrawn:

  -- Corporate family rating, Caa2;

  -- Probability of default rating, Caa2;

  -- $140 million, senior secured term loan, due in 2013, Caa1
     (LGD3, 39%);

  -- $20 million, senior secured revolving credit facility, due in
     2013, Caa1 (LGD3, 39%).

The last rating action was on November 24, 2008, when Moody's
downgraded the corporate family rating to Caa2.

Headquartered in Chatsworth, California, Cohr Holdings, Inc., is a
leading independent service organization in the diagnostic imaging
and biomedical equipment maintenance and repair services industry.


COLETO CREEK: Bank Debt Trades at 11% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Coleto Creek Power
L.P. is a borrower traded in the secondary market at 88.80 cents-
on-the-dollar during the week ended Friday, July 9, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 0.70
percentage points from the previous week, The Journal relates.
The Company pays 275 basis points above LIBOR to borrow under the
facility.  The bank loan matures on June 28, 2013, and carries
Moody's B1 rating and Standard & Poor's B+ rating.  The debt is
one of the biggest gainers and losers among 204 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

As reported by the Troubled Company Reporter on June 29, 2009,
Standard & Poor's lowered its issue rating on Coleto Creek Power
L.P.'s $735 million senior secured first-lien term loan due 2013,
its $170 million synthetic letter of credit facility maturing
2013, and its $60 million working capital revolving facility
maturing 2011 to 'B+' from 'BB-'.  S&P also revised the recovery
rating to '2' from '1', indicating S&P's expectation that lenders
would receive substantial (70% to 90%) recovery of principal in
the event of a payment default.  (Coleto Creek has a $200 million
senior secured second-lien term loan due 2013 that S&P does not
rate.)

"The rating action follows the project's weak financial
performance over the past couple of years caused by weakened
market conditions, construction delays with its pollution-control
equipment, and other forced outages," said Standard & Poor's
credit analyst Swami Venkataraman.

Coleto Creek is an indirect, wholly owned partnership subsidiary
of International Power PLC (IP; BB-/Stable/--) and owns the 632
megawatt coal-fired Coleto Creek plant in the Electric Reliability
Council of Texas (ERCOT) region.


CONTECH CONSTRUCTION: Bank Debt Trades at 22% Off
-------------------------------------------------
Participations in a syndicated loan under which CONTECH
Construction Products, Inc., is a borrower traded in the secondary
market at 78.15 cents-on-the-dollar during the week ended Friday,
July 9, 2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents an increase
of 2.65 percentage points from the previous week, The Journal
relates.  The Company pays 200 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Jan. 31, 2013, and
carries Moody's B1 rating and Standard & Poor's B rating.  The
debt is one of the biggest gainers and losers among 204 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

CONTECH Construction Products, Inc. -- http://www.contech-cpi.com/
-- headquartered in West Chester, Ohio, makes, distributes, and
installs civil engineering products related to environmental storm
water, drainage, bridges, walls, and earth stabilization.  CONTECH
sells to builders of commercial, industrial, and public projects,
as well as large-scale residential communities.  Products range
from retaining walls and water-detention vaults to storm water
pipes and bridges in a variety of types for vehicular or
pedestrian use. CONTECH has dealers, distributors, or
manufacturing plants in all 50 U.S. states and a national sales
organization of more than 350 people.  Investment firm Apax
Partners owns CONTECH.

As reported by the Troubled Company Reporter on July 30, 2009,
Moody's affirmed the ratings of Contech Construction Products,
Inc. -- Corporate Family and Probability of Default Ratings at B2.
The outlook has been changed to negative from stable.  The
negative outlook reflects the risk that Contech's ability to
navigate the downturn in construction spending may be hindered by
its highly leveraged capital structure and diminished headroom
under its financial covenants.


CORD BLOOD: Directors Grants Stock Options to Two Exec. Officers
----------------------------------------------------------------
The Board of Directors of Cord Blood America, Inc., acted, in each
case with the conflicted director abstaining, to compensate key
Executive Officers for past services completed during the
preceding year, by the issuance of stock options to acquire the
company's common stock under the Company's Cord Blood America,
Inc. 2010 Flexible Stock Plan.

These options granted are vested immediately, have a 10-year term,
or through July 1, 2020, and are exercisable at an exercise price
of $0.0053 per share, which was the closing stock bid price for
the company's common stock on July 1, 2010.

These Options were granted for past services to the following key
Executive Officers as bonus compensation for the periods indicated
on July 1, 2010:

    Recipient            Options Grated
    ---------            --------------
    Matthew Schissler     15,468,589
    Joseph Vicente         7,734,345

The value of the options so issued cannot be calculated as of this
date, since they have been issued at the closing bid price of the
company's common stock on the date of grant, July 1, 2010.

The Options provide for cashless exercise, permitting the
recipient to surrender any Options whose exercise price are below
the then market price for the Company's stock, and received a
credit for the difference between each surrendered option's
exercise price and the market price for the Company's common stock
on the date of Option surrender. Such credit is then applied
against payment of the exercise price for other Options turned in
for exercise.

The number of shares of common stock which may be purchased upon
exercise of these Options, and the exercise price, is subject to
adjustment in the event of stock splits, stock dividends, merger,
reorganization or recapitalization.

B. Effective July 1, 2010, the Board of Directors acted, in each
case with the conflicted director abstaining, to provide incentive
compensation to the company's key Executive Officers for 2010, by
the issuance of unvested stock options to acquire company's common
stock which vest on July 1, 2011, so long as the employee is a
full time employee of the Company on the vesting date, up to their
expiration date on July 1, 2020.

                    About Cord Blood America

Based in Las Vegas, Nevada, Cord Blood America, Inc., is primarily
a holding company whose subsidiaries include Cord Partners, Inc.,
CorCell Co. Inc., CorCell Ltd.; CBA Professional Services, Inc.
D/B/A BodyCells, Inc.; CBA Properties, Inc.; and Career Channel
Inc, D/B/A Rainmakers International.  Cord specializes in
providing private cord blood stem cell preservation services to
families.  BodyCells is a developmental stage company and intends
to be in the business of collecting, processing and preserving
peripheral blood and adipose tissue stem cells allowing
individuals to privately preserve their stem cells for potential
future use in stem cell therapy.  Properties was formed to hold
the corporate trademarks and other intellectual property of CBAI.
Rain specializes in creating direct response television and radio
advertising campaigns, including media placement and commercial
production.

The Company's balance sheet at March 31, 2010, revealed
$5,754,702 in total assets and $6,709,374 in total liabilities,
all current, for a $954,672 total stockholders' deficit.

In its March 30, 2010 report, Rose, Snyder & Jacobs, in Encino,
California, said the Company's recurring operating losses,
continued cash burn, and insufficient working capital and
accumulated deficit at December 31, 2009, raise substantial doubt
about the Company's ability to continue as a going concern.


CRUCIBLE MATERIALS: Seeks Settlement Deal on $1MM CERCLA Claims
---------------------------------------------------------------
Crucible Materials Corp. is asking for approval of a roughly
$1.2 million settlement with the New York Department of
Environmental Conservation to resolve claims over remedial costs
incurred by the state under the Comprehensive Environmental
Response, Compensation and Liability Act, Bankruptcy Law360
reports.  Crucible is seeking a July 26 hearing on the proposed
deal.

                      About Crucible Materials

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

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

From four asset sales under 11 U.S.C. Sec. 363, Crucible
generated $14.4 million after secured lenders were fully paid on
$64.5 million in claims outstanding at the outset of the Chapter
case.


CULLIGAN INTERNATIONAL: Bank Debt Trades at 20% Off
---------------------------------------------------
Participations in a syndicated loan under which Culligan
International Co. is a borrower traded in the secondary market at
80.46 cents-on-the-dollar during the week ended Friday, July 9,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents a drop of
0.58 percentage points from the previous week, The Journal
relates.  The Company pays 225 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Oct. 16, 2012, and
carries Moody's B3 rating and Standard & Poor's B- rating.  The
debt is one of the biggest gainers and losers among 204 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

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


DELTA PETROLEUM: Selects Carl Lakey as Chief Executive Officer
--------------------------------------------------------------
Delta Petroleum Corporation named Carl Lakey as Chief Executive
Officer, effective immediately.  Mr. Lakey most recently served as
Senior Vice President of Operations for Delta and has been with
the Company since 2007.

Mr. Lakey has spent his entire professional career in oil and gas
exploration and production.  Prior to joining Delta Petroleum, Mr.
Lakey spent six years managing operations at El Paso Production
Company and sixteen years in various operational and technical
positions at ExxonMobil.

"Carl is a veteran oil and gas production and development
executive and has been instrumental in increasing net production
and proved reserves during his time at Delta Petroleum," said
Daniel Taylor, Chairman of the Board of Delta Petroleum.  "He's a
skilled operator and knows this business extremely well.  We
believe he is the right person to take Delta Petroleum forward,
particularly our principal assets in the Piceance Basin."

Delta also announced that John R. Wallace, currently President and
COO, agreed to resign from the Company as an officer and director
to pursue other interests.  "John has been an extremely valuable
member of our leadership team, integral in identifying and
developing our most valuable asset, the Vega field.  We thank him
for his service, and wish him the best in his future endeavors,"
said Mr. Taylor.

In addition, Delta announced that it has terminated discussions
to sign a definitive Purchase and Sale Agreement with Opon
International LLC to sell a 37.5% non-operated working interest
in, and jointly develop, its Vega Area assets in the Piceance
Basin.  Delta terminated the discussions after Opon was unable to
obtain financing for the transaction on the agreed-upon terms.
Delta will continue to pursue disciplined development of its main
asset in the Piceance Basin to bolster proved reserves.  In the
Vega Area, Delta is taking a balanced approach to employing new
procedures that are improving completion results while preserving
liquidity.  Delta is also continuing to pursue strategic
alternatives to enhance shareholder value.  Mr. Taylor continued,
"While Opon was unable to arrange financing for a transaction on
terms acceptable to us, we remain confident in the value of our
Vega Area asset, and intend to further delineate that value as we
consider the Company's other strategic alternatives."

                        About Delta Petroleum

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

The Company's balance sheet as of March 31, 2010, showed
$1.384 billion in assets, $699.3 million of liabilities, and
$684.5 million of stockholders' equity.  At March 31, 2010, the
Company had $10 million in cash and $52.0 million available under
its credit facility.

As reported in the Troubled Company Reporter on March 15, 2010,
KPMG LLP, in Denver, expressed substantial doubt about the
Company's ability to continue as a going concern.  The independent
auditors reported that due to continued losses the Company is
evaluating strategic alternatives including, but not limited to
the sale of some or all of its assets.  "There can be no
assurances that actions undertaken will be sufficient to repay
obligations under the credit facility when due, which raises
substantial doubt about the Company's ability to continue as a
going concern."

In its Form 10-Q for the current quarter, the Company said that it
does not currently have the capital on hand necessary to repay its
credit facility borrowings due on January 15, 2011, or develop its
properties at the pace desired based on current commodity prices.
Further, in conjunction with the April 2010 borrowing base
redetermination of Delta's credit facility, the Company is limited
to capital expenditures of $20.0 million in the quarter ending
June 30, 2010, and $15.0 million for the quarter ending
September 30, 2010.


DOLLAR THRIFTY: BlackRock Inc. Pares Equity Stake to 4.98%
----------------------------------------------------------
BlackRock Inc. disclosed that it may be deemed to beneficially own
as of June 30, 2010, 1,425,584 shares or roughly 4.98% of the
common stock of Dollar Thrifty Automotive Group.

As reported by the Troubled Company Reporter in February,
BlackRock disclosed that as of December 31, 2009, it may be deemed
to beneficially own 1,526,194 shares or roughly 5.53% of the
common stock of Dollar Thrifty Automotive Group.

As reported by the Troubled Company Reporter on April 27, 2010,
Hertz and Dollar Thrifty signed a definitive agreement providing
for Hertz to acquire Dollar Thrifty for a purchase price of $41.00
per share, in a mix of cash and Hertz common stock.  The deal is
valued at $1.27 billion.

Barclays Capital acted as lead financial advisor to Hertz and Bank
of America Merrill Lynch also provided advice.  Hertz also worked
with the law firms Debevoise & Plimpton LLP and Jones Day.  Dollar
Thrifty was advised by J.P. Morgan and Goldman, Sachs & Co. and
the law firm of Cleary Gottlieb Steen & Hamilton LLP.

Rival Avis Budget Group, Inc., on May 3 indicated to Dollar
Thrifty's Board of Directors it would like to make a substantially
higher offer to acquire Dollar Thrifty.  Avis Budget has hired
Citigroup as financial advisor and Kirkland & Ellis LLP as legal
counsel to advise on a possible deal with Dollar Thrifty.

                       About Dollar Thrifty

Dollar Thrifty Automotive Group, Inc., is headquartered in Tulsa,
Oklahoma.  Driven by the mission "Value Every Time," the Company's
brands, Dollar Rent A Car and Thrifty Car Rental, serve value-
conscious travelers in over 70 countries.  Dollar and Thrifty have
over 600 corporate and franchised locations in the United States
and Canada, operating in virtually all of the top U.S. and
Canadian airport markets.  The Company's approximately 6,400
employees are located mainly in North America, but global service
capabilities exist through an expanding international franchise
network.

At March 31, 2010, the Company had total assets of $2,470,879,000
against total liabilities of $2,047,769,000, resulting in
stockholders' equity of $423,110,000.

                           *     *     *

As reported by the Troubled Company Reporter on May 5, 2010,
Dominion Bond Rating Service placed the ratings of Dollar Thrifty
Automotive Group, Inc., including its Issuer Rating of B (high),
Under Review with Positive Implications.  This ratings action
follows the announcement that the Company has reached a definitive
agreement to be acquired by the higher-rated Hertz Corporation.
DBRS rates Hertz BB, at the issuer level.

In November 2009, Standard & Poor's Ratings Services raised its
corporate credit rating of Dollar Thrifty to 'B-' from 'CCC', in
light of the Company's improved operating and financial
performance that began in mid-2009.  Moody's Investors Service
also upgraded Dollar Thrifty's Probability of Default Rating to
'B3' from 'Caa2' and Corporate Family Rating to 'B3' from 'Caa3'.


DOLLAR THRIFTY: Sees Corporate EBITDA of $70MM-$75MM for 2010
-------------------------------------------------------------
Dollar Thrifty Automotive Group, Inc., provided an update on
preliminary estimates for second quarter results and its outlook
for the full year of 2010.

The Company said it expects second quarter Corporate Adjusted
EBITDA to be within a range of $70 million to $75 million, up
significantly from $20.9 million in the comparable quarter of
2009.  The Company further noted that it recorded approximately
$5 million of expenses related to the proposed Hertz transaction
during the quarter.  Excluding these transaction costs, Corporate
Adjusted EBITDA for the second quarter is projected to be within a
range of $75 million to $80 million.

The Company noted that it is lowering its guidance for vehicle
rental revenue for the full year of 2010 to an increase of 1 to 2
percent compared to 2009, down from its prior guidance of 2 to 4
percent.  In addition, the Company lowered its expected fleet cost
target from $275 per unit per month to a range of $245 to $255 per
month.

Based on the Company's estimated results through the second
quarter and its outlook for revenue and fleet costs for the
remainder of 2010, the Company expects Corporate Adjusted
EBITDA, excluding expenses related to the Hertz transaction,
to be within a range of $200 million to $220 million for the
full year of 2010.  The Company's previous guidance range for
2010 was $170 - $190 million, and the Company's 2009 Corporate
Adjusted EBITDA was $99.4 million.

The Company also provided an updated outlook for fleet cost per
unit per month for 2011, lowering its outlook for fleet cost to a
range of $300 to $310 per month, compared to its previous guidance
of $325 per month.  The Company noted that the ongoing positive
effects of changes made in its operations and fleet management,
combined with solid macroeconomic factors in the used car market,
are expected to impact fleet costs in 2011 and beyond.

                       About Dollar Thrifty

Dollar Thrifty Automotive Group, Inc., is headquartered in Tulsa,
Oklahoma.  Driven by the mission "Value Every Time," the Company's
brands, Dollar Rent A Car and Thrifty Car Rental, serve value-
conscious travelers in over 70 countries.  Dollar and Thrifty have
over 600 corporate and franchised locations in the United States
and Canada, operating in virtually all of the top U.S. and
Canadian airport markets.  The Company's approximately 6,400
employees are located mainly in North America, but global service
capabilities exist through an expanding international franchise
network.

At March 31, 2010, the Company had total assets of $2,470,879,000
against total liabilities of $2,047,769,000, resulting in
stockholders' equity of $423,110,000.

                           *     *     *

As reported by the Troubled Company Reporter on May 5, 2010,
Dominion Bond Rating Service placed the ratings of Dollar Thrifty
Automotive Group, Inc., including its Issuer Rating of B (high),
Under Review with Positive Implications.  This ratings action
follows the announcement that the Company has reached a definitive
agreement to be acquired by the higher-rated Hertz Corporation.
DBRS rates Hertz BB, at the issuer level.

In November 2009, Standard & Poor's Ratings Services raised its
corporate credit rating of Dollar Thrifty to 'B-' from 'CCC', in
light of the Company's improved operating and financial
performance that began in mid-2009.  Moody's Investors Service
also upgraded Dollar Thrifty's Probability of Default Rating to
'B3' from 'Caa2' and Corporate Family Rating to 'B3' from 'Caa3'.


DOLPHIN DIGITAL: Posts $1.6 Million Net Loss in Q1 2010
-------------------------------------------------------
Dolphin Digital Media, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $1,590,967 on $256 of revenue for
the three months ended March 31, 2010, compared with a net loss of
$1,284,674 on zero revenue for the same period of 2009.

The Company's balance sheet at March 31, 2010, showed
$1,723,638 in assets and $3,450,233 of liabilities, for a
stockholders' deficit of $1,726,595.

The Company has losses for the three months ended March 31, 2010,
of 1,590,701.  As of March 31, 2010 the Company recorded an
accumulated deficit of $29,120,227.  Further, the Company has
inadequate working capital to maintain or develop its operations,
and is dependent upon funds from private investors and the support
of certain stockholders.

"These factors raise substantial doubt about the ability of the
Company to continue as a going concern."

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

               http://researcharchives.com/t/s?6629

Miami, Fla.-based Dolphin Digital Media, Inc (OTC BB: DPDM)
-- http://www.dolphindigitalmedia.com/-- is a creator of secure
social networking websites for children utilizing ground breaking
fingerprint identification technology.


DYNCORP INTERNATIONAL: S&P Withdraws 'BB' Corporate Credit Rating
-----------------------------------------------------------------
Standard & Poor's Ratings Services withdrew its ratings on Falls
Church, Va.-based government services provider DynCorp
International LLC, including the 'BB' corporate credit rating, and
removed the ratings from CreditWatch, where S&P had placed them
with negative implications on April 12, 2010.

The withdrawal follows the completion of Cerberus Capital
Management LP's acquisition of the company's parent, DynCorp
International Inc., and repayment of the company's existing debt.
The ratings on the parent, including the 'BB-' corporate credit
rating on that entity and on the new debt issued to partially
finance the transaction are unaffected.


EASTMAN HOMES: Case Summary & 4 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Eastman Homes, LLC
        P.O. Box 2778
        Georgetown, TX 78626

Bankruptcy Case No.: 10-11887

Chapter 11 Petition Date: July 6, 2010

Court: United States Bankruptcy Court
       Western District of Texas (Austin)

Judge: Craig A. Gargotta

Debtor's Counsel: Stephen W. Sather, Esq.
                  Barron & Newburger, P.C.
                  1212 Guadalupe, Suite 104
                  Austin, TX 78701
                  Tel: (512) 476-9103 Ext. 220
                  Fax: (512) 476-9253
                  E-mail: ssather@bnpclaw.com

Scheduled Assets: $2,132,080

Scheduled Debts: $1,570,339

A list of the Company's 4 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txwb10-11887.pdf

The petition was signed by Nick Eastman, manager.


EDHSAN MILLWORKS: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Edhsan Millworks Inc.
        aka Edhsan Aluminum Work
        P.O. Box 848
        Cabo Rojo, PR 00623

Bankruptcy Case No.: 10-06039

Chapter 11 Petition Date: July 6, 2010

Court: United States Bankruptcy Court
       District of Puerto Rico (Ponce)

Debtor's Counsel: Alberto O. Lozada Colon, Esq.
                  Bufete Lozada Colon
                  P.O. Box 427 PMB 1019
                  Mayaguez, PR 00681
                  Tel: (787) 833-6323
                  E-mail: alberto3@coqui.net

Scheduled Assets: $300,436

Scheduled Debts: $1,099,070

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/prb10-06039.pdf

The petition was signed by Edmundo Franqui Ruiz, president.


ENABLE HOLDINGS: Posts $921,000 Net Loss in 2010 First Quarter
--------------------------------------------------------------
Enable Holdings, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $921,000 of $2,990,000 of revenue for the
three months ended March 31, 2010, compared with a net loss of
$2,673,000 on $5,094,000 of revenue for the same period of 2009.

The Company's balance sheet at March 31, 2010, showed $4,307,000
in assets and $10,043,000 of liabilities, for a stockholders'
deficit of $5,736,000.

BDO Seidman, LLP, in Chicago, 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, suffered recurring losses
from operations and has a net capital deficiency.

As of March 31, 2010, the Company had accumulated a deficit of
$54,662,000.

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

               http://researcharchives.com/t/s?6620

Itasca, Ill.-based Enable Holdings, Inc. (OTCB: ENAB.OB) operates
online Web sites located at uBid.com and RedTag.com, respectively.
The two Web sites offer excess, new, overstock, close-out,
recertified and limited supply brand name merchandise to both
consumers and businesses using auction style and fixed price
formats.


EMMIS COMMUNICATIONS: Investors to Vote Against Smulyan Merger
--------------------------------------------------------------
Double Diamond Partners LLC, Zazove Aggressive Growth Fund, L.P.,
R2 Investments, LDC, DJD Group LLC, Third Point LLC, the Radoff
Family Foundation, Bradley L. Radoff, and LKCM Private Discipline
Master Fund, SPC, have entered into a written lock-up agreement to
challenge Emmis Communication Corp. CEO Jeffrey H. Smulyan's bid
to take the company private.

On May 25, 2010, Emmis executed an agreement and plan of merger,
that if consummated would result in the Company being taken
private by Mr. Smulyan.  The Merger Agreement provides for a
series of transactions, including (a) a cash tender offer for the
Company's Class A Common Stock, (b) an offer to exchange all
outstanding Preferred Shares for new 12% PIK Senior Subordinated
Notes due 2017, and (c) a solicitation of proxies to amend certain
terms of the Preferred Shares.  Adoption of the Proposed
Amendments described in the Merger Agreement requires the
affirmative vote of holders of at least 2/3 of the outstanding
Preferred Shares, voting as a separate class.

Amalgamated Gadget said in a regulatory filing with the Securities
and Exchange Commission that on July 9, 2010, Double Diamond et
al. agreed, subject to certain exceptions, to (1) vote or cause to
be voted any and all of its Preferred Shares against the Proposed
Amendments; (2) restrict dispositions of Preferred Shares; (3) not
enter into any agreement, arrangement or understanding with any
person for the purpose of holding, voting or disposing of any
securities of the Company, or derivative instruments with respect
to securities of the Company; (4) consult with each other prior to
making any public announcement concerning the Company; and (5)
share certain expenses incurred in connection with  their
investment in the Preferred Shares, in each case during the term
of the Lock-Up Agreement.

Pursuant to an Investment Management Agreement with R2,
Amalgamated Gadget disclosed that it may be deemed to be the
beneficial owner of 822,273 shares of Emmis Common Stock, which
constitutes approximately 2.4% of the 33,735,646 shares of the
Common Stock deemed to be outstanding thereunder.

Amalgamated may also be deemed to be the beneficial owner of
337,050 shares of Emmis' 6.25% Series A Cumulative Convertible
Preferred Stock, which constitutes approximately 12.0% of the
2,809,170 shares of the Preferred Stock deemed to be outstanding
thereunder.

                            About Emmis

Headquartered in Indianapolis, Indiana, Emmis Communications
Corporation -- http://www.emmis.com/-- owns and operates radio
stations and magazine publications in the U.S. and in Europe.

At February 28, 2010, the Company had $498,168,000 in total
assets; $487,246,000 in total liabilities and $140,459,000 in
Series A Cumulative Convertible Preferred Stock; and shareholders'
deficit of $178,959,000.  At February 28, 2010, the Company had
non-controlling interests of $49,422,000 and total deficit of
$129,537,000.

As of April 15, 2010, the Company had not paid the Preferred Stock
dividend for six consecutive quarterly periods.

                           *     *     *

In April 2009, Moody's cut its corporate family rating on the
Company to 'Caa2'.

In May 2009, S&P raised its corporate credit rating on the Company
to 'CCC+'.  In June, S&P withdrew the 'CCC+' Corp. Credit Rating
at the Company's request.


ENERGY FUTURE: Consummates Private Placement Exchange Deal
----------------------------------------------------------
Energy Future Holdings Corp. consummated a private placement
exchange transaction pursuant to an Exchange Agreement between EFH
and an institutional investor.  Pursuant to the Exchange
Agreement, EFH exchanged approximately $412 million aggregate
principal amount of its 10.000% Senior Secured Notes due 2020 plus
accrued and unpaid interest on the Old Notes for approximately
$549 million aggregate principal amount of its 5.55% Series P
Senior Notes due November 15, 2014.  This transaction resulted in
EFH capturing approximately $137 million of debt discount.

The New Notes were issued pursuant to the Indenture, dated as of
January 12, 2010, among EFH, as Issuer, EFIH and EFCH, as
Guarantors, and The Bank of New York Mellon Trust Company, N.A.,
as Trustee.  The terms of the New Notes are the same as EFH's
outstanding 10.000% Senior Secured Notes due 2020.  A description
of the material terms of the EFH 2020 Senior Secured Notes is
contained in EFH's Form 8-K filed with the Securities Exchange
Commission on January 19, 2010, and is incorporated herein by
reference.

                  Series P Supplemental Indenture

Prior to the Exchange, the Exchange Holder, who held a majority of
the outstanding aggregate principal amount of the Old Notes, gave
its consent to certain amendments to the Indenture, dated as of
November 1, 2004, between EFH and Bank of New York Mellon, and
related documents.  The Series P Indenture governs the Old Notes.
As a result of the consent, EFH and BNY, as trustee under the
Series P Indenture, entered into a Supplemental Indenture, dated
as of July 1, 2010, that amended and supplemented the Series P
Indenture.  The amendments to the Series P Indenture, among other
things, modify or eliminate substantially all of the restrictive
covenants contained in the Series P Indenture, modify or eliminate
certain events of default, modify covenants regarding mergers and
consolidations and modify or eliminate certain other provisions of
the Series P Indenture, including the limitation on the incurrence
of secured indebtedness.

              Liability Management Transactions Since
              the Start of the Second Quarter of 2010

In addition to the Exchange, since the start of the second quarter
of 2010 through July 2, 2010, EFH has engaged in a series of other
liability management transactions. In these other transactions,
EFH acquired, in aggregate, $413 million of its and its

subsidiary Texas Competitive Electric Holdings Company LLC's
outstanding debt.  As consideration for this acquired debt, EFH
issued approximately $72 million aggregate principal amount of EFH
2020 Senior Secured Notes and paid approximately $211 million of
cash.  These other transactions have resulted in EFH capturing
approximately $130 million of debt discount.

As a result of the Exchange and the other transactions described
above, since the start of the second quarter of 2010 through
July 2, 2010, EFH has acquired, in aggregate, approximately
$962 million of its and TCEH's outstanding debt.  As consideration
for this acquired debt, EFH issued approximately $484 million of
EFH 2020 Senior Secured Notes and paid approximately $211 million
of cash.  These transactions have resulted in EFH capturing
approximately $267 million of debt discount and extending the
maturities of $695 million of outstanding debt since the start of
the second quarter of 2010 through July 2, 2010.  The $267 million
debt discount together with the related approximately $40 million
in aggregate projected interest savings through 2014 result in a
total projected 2014 net debt reduction of approximately
$307 million.  Net debt means consolidated short-term borrowings
and long-term debt, including long-term debt due currently, net of
cash and cash equivalents and restricted cash.

                 Total Liability Management Program

Since October 2009, when EFH began its liability management
program, through July 2, 2010, EFH has acquired, in aggregate,
approximately $1.366 billion of its and TCEH's outstanding debt.
As consideration for this acquired debt, EFH has issued
approximately $518 million of EFH 2020 Senior Secured Notes and
$115 million of its 9.75% Senior Secured Notes due 2019 and paid
approximately $211 million of cash and EFIH has issued
approximately $141 million of its 9.75% Senior Secured Notes due
2019.  These transactions have resulted in EFH capturing
approximately $381 million of debt discount and extending the
maturities of $985 million of outstanding debt under its liability
management program through July 2, 2010.  The $381 million debt
discount together with the related approximately $115 million in
aggregate projected interest savings through 2014 result in a
total projected 2014 net debt reduction of approximately
$496 million.

The following is a summary of the debt acquired through July 2,
2010 under EFH's liability management program:

   * approximately $566 million of Old Notes;

   * approximately $10 million of EFH's 6.50% Series Q Senior
     Notes due 2024;

   * approximately $6 million of EFH's 6.55% Series R Senior Notes
     due 2034;

   * approximately $188 million of EFH's 10.875% Senior Notes due
     2017;

   * approximately $213 million of EFH's 11.25%/12.000% Senior
     Toggle Notes due 2017;

   * approximately $311 million of TCEH's 10.25% Senior Notes due
     2015 and 10.25% Senior Notes due 2015, Series B;

   * approximately $52 million of TCEH's 10.50%/11.25% Senior
     Toggle Notes due 2016; and

   * approximately $20 million of TCEH's initial term loans under
     its Senior Secured Credit Facilities.

A full-text copy of the Series P Supplemental Indenture is
available for free at http://ResearchArchives.com/t/s?662f

                        About Energy Future

Energy Future Holdings Corp. is a diversified energy holding
company with a portfolio of competitive and regulated energy
businesses in Texas.  Oncor, an 80%-owned entity within the EFH
group, is the largest regulated transmission and distribution
utility in Texas.  The Company delivers electricity to
roughly three million delivery points in and around Dallas-
Fort Worth.

                           *     *     *

Energy Future Holdings Corp. continues to carry Moody's Investors
Service "Caa1" Corporate Family Rating, with negative rating
outlook.

As reported by the Troubled Company Reporter on April 7, 2010,
Fitch Ratings downgraded to 'B-' from 'B' the Issuer Default
Ratings of Energy Future Holdings Corp.; Energy Future
Intermediate Holding Company LLC; Texas Competitive Electric
Holdings Company LLC; and Energy Future Competitive Holdings
Company.


ENVIROSOLUTIONS: Court Approves Supplement to Disclosure Statement
------------------------------------------------------------------
BankruptcyData.com reports that the U.S. Bankruptcy Court signed
an order approving a Supplement to EnviroSolutions Holdings'
Disclosure Statement and the procedures for re-soliciting the
votes of the holders of pre-petition secured lender claims, second
lien note claims, senior subordinated note claims and other
unsecured claims.

BData previously reported that aggregate distributions to be
made to holders of allowed other unsecured claims (Class 7)
will be increased from $1 million in cash in the original Plan to
$2.4 million in cash in the amended plan.  In addition, holders of
senior subordinated note claims (Class 5) will receive the Class 5
warrants, which will entitle such holder to purchase up to 5% of
the ownership interests in New Holdings.

                   About EnviroSolutions Holdings

Based in Manassas, Virginia, EnviroSolutions Holdings, Inc., is an
integrated solid waste management company with a presence in
Virginia, Maryland, New Jersey, Kentucky, West Virginia, and the
District of Columbia.  The company's assets include three
landfills, four transfer stations and several hauling and
collection operations.

The Company filed for Chapter 11 bankruptcy protection on
March 10, 2010 (Bankr. S.D.N.Y. Case No. 10-11261).  John
Longmire, Esq., at Willkie Farr & Gallagher LLP, assists the
Company in its restructuring effort.  Alvarez and Marsal North
America, LLC, is the Company's restructuring advisor.  The
Company's financial advisor is Barclays Capital.  The Company
estimated its assets and liabilities at $100,000,001 to
$500,000,000.


FORD MOTOR: Names Former BoA CFO James Hance as Director
--------------------------------------------------------
Ford Motor Company elected of James H. Hance, Jr. to the Company's
Board of Directors, effective immediately.

Mr. Hance is the former chief financial officer and former vice
chairman of Bank of America, where he retired in 2005 after 18
years with the company.  He is currently a senior adviser to the
Carlyle Group.

"[Mr. Hance] brings to Ford's board of directors an extremely
strong financial background and a track record of success both as
an executive and a director for several companies," said Ford
Executive Chairman Bill Ford.  "We are very fortunate to further
strengthen our board with someone of [Mr. Hance's] stature and
talent as we continue to make progress on our transformation."

Mr. Hance will serve on the Ford Board of Directors' Audit
Committee, the Finance Committee, and the Nominating and
Governance Committee.

A certified public accountant, Mr. Hance spent 17 years with Price
Waterhouse in Philadelphia and Charlotte.  From August 1985 until
December 1986, he was chairman and co-owner of Consolidated Coin
Caterers Corp. In March 1987, Hance joined NCNB, a predecessor to
Bank of America.

"I'm very excited to have this opportunity to serve on the Ford
Board of Directors and to work with Bill Ford, Alan Mulally and
the other directors," Mr. Hance said.  "This is a company that has
aggressively restructured over the past few years and is
profitably growing by serving its consumers around the world."

Mr. Hance serves on of the following corporate boards: Sprint
Nextel Corp., where he is non-executive chairman, Cousins
Properties Inc., Morgan Stanley Corp., and Duke Energy Corp.  He
is a trustee of Washington University in St. Louis and Johnson &
Wales University, based in Providence, R.I.

Mr. Hance earned a bachelor's degree at Westminster College in
Fulton, Mo., and a master's degree in business at Washington
University.

                         About Ford Motor

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

At March 31, 2010, the Company had $191.968 billion in total
assets against $197.405 billion in total liabilities.

As reported by the Troubled Company Reporter on June 7, 2010,
Moody's released an Issuer Comment stating that the ratings and
outlook of Ford Motor Company are being maintained following the
company's announcement that it will end production of Mercury
vehicles during the fourth quarter of this year.  Ford's ratings
include: B1 Corporate Family Rating and Probability of Default
Rating; Ba1 secured rating; B2 unsecured rating; and SGL-2
Speculative Grade Liquidity Rating.  The rating outlook is stable.

The last rating action on Ford was an upgrade of the Company's
Corporate Family Rating to B1 on May 18, 2010.


ETERNAL ENERGY: Posts $331,700 Net Loss in First Quarter of 2010
----------------------------------------------------------------
Eternal Energy Corp. filed its quarterly report on Form 10-Q,
reporting a net loss of $331,735 on $71,486 of revenue for the
three months ended March 31, 2010, compared with a net loss
$497,486 on zero revenue for the same period of 2009.

The Company's balance sheet at March 31, 2010, showed
$1,939,077 in assets, $461,127 of liabilities, and $1,477,950 of
stockholders' equity.

The Company has incurred net losses since inception and has an
accumulated deficit of $8,086,351 as of March 31, 2010.  These
factors raise substantial doubt about the Company's 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?662c

                       About Eternal Energy

Littleton, Colo.-based Eternal Energy Corp. (OTC BB: EERG) is an
oil and gas company engaged in the exploration of petroleum and
natural gas.  The Company was incorporated in Nevada on July 25,
2003, to engage in the acquisition, exploration, and development
of natural resource properties.


ETERNAL ENERGY: Sells 75% Working Interest in West Ranch Holding
----------------------------------------------------------------
Eternal Energy Corp. said in a regulatory filing it has sold its
75% working interest in the SW Extension of the West Ranch Field,
located in Jackson County, Texas, to Century Assets Corporation
for cash consideration of $225,000 and the assumption of all
existing and future liabilities, estimated to be approximately
$280,000, related to the West Ranch wells by Century.

Eternal acquired its interest in the West Ranch Field in 2007
through a series of stock and cash transactions.  All operating
wells have been shut-in since June 2008 due to excess compression
capacity and related costs.  In September 2009, the Company ceased
claiming reserves associated with its West Ranch holdings and
fully impaired its investment in the West Ranch Field.

"We are pleased that we were able to monetize our investment in
the West Ranch Field and remove ourselves from any future plugging
liabilities associated with the wells in the SW Extension," stated
Brad Colby, Eternal's President and CEO.  "The cash received from
the sale will strengthen our working capital position, as well as
provide additional funding for future drilling activities in our
Hardy and Spyglass Prospects."

The Company also announced that, as of the close of business on
June 30, 2010, it has repurchased and retired 1,881,000 shares of
its outstanding common stock at an average purchase price of $0.06
per share pursuant to its stock repurchase program.  SEC rules
limit the number of shares that the Company can repurchase on any
one day.  On March 29, 2010, the Company's Board of Directors
authorized expending up to $500,000 to repurchase shares on the
open market.

A full-text copy of the quarterly report on Form 10-Q is available
for free at:

               http://researcharchives.com/t/s?662c

                       About Eternal Energy

Littleton, Colo.-based Eternal Energy Corp. (OTC BB: EERG) is an
oil and gas company engaged in the exploration of petroleum and
natural gas.  The Company was incorporated in Nevada on July 25,
2003, to engage in the acquisition, exploration, and development
of natural resource properties.

The Company's balance sheet at March 31, 2010, showed
$1,939,077 in assets, $461,127 of liabilities, and $1,477,950 of
stockholders' equity.

                          *     *     *

The Company has incurred net losses since inception and has an
accumulated deficit of $8,086,351 as of March 31, 2010.  These
factors raise substantial doubt about the Company's ability to
continue as a going concern.


F & F, LLC:: Files Amended Plan of Reorganization Outline
---------------------------------------------------------
F & F, LLC, filed with the U.S. Bankruptcy Court for the Central
District of California an amended Disclosure Statement explaining
its proposed Plan of Reorganization.

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

The Debtor seeks to accomplish payments under the Plan by
obtaining a capital infusion from new members, obtaining a new
loan secured by the Debtor's commercial real property, continuing
efforts to lease up and improve the profitability of its real
property, and thereafter making payments over time to its secured
and unsecured creditors.

As reported in the Troubled Company Reporter on March 24, 2010,
according to the Disclosure Statement, on the effective date of
the Plan, new members will acquire ownership of 100% of the
membership interest in the Reorganized Debtor.  In return the new
members will make a capital contribution of not less than
$3,000,000 to the Reorganized Debtor.  In addition, the Debtor
will obtain a new loan secured by the property with a deed of
trust having priority over the Class 3 secured claim of U.S. Hung
Wui Investments, Inc.

The new loan will be lesser than $6,000,000 or 80% of the value
interest of all Class 2 priority mechanics' lien claims on the
property.  The mechanics' fund and the interest reserve fund,
together with the proceeds of the new loan, the ongoing rental
income generated by the property and the net litigation proceeds
and avoidance actions recoveries, will be used to make payments to
the Debtors' creditors.

The new members and their minimum capital contribution are:

     Name               % Interest     Capital Contribution
     ----               ----------     --------------------
Kevin Kaing & Lor Yik      33.34%      $1,000,000
Thai Ly & Kathy Yam        25.00%        $750,000
Jimmy Ly & Jennifer Ly     25.00%        $750,000
Peou Ngoy & Phou Chy Yik   16.66%        $500,000
                        ----------     ----------
Total:                    100.00%      $3,000,000

                        Treatment of Claims

Class 1 secured claim of San Bernardino County Assessor will be
paid in full in 5 annual installments.

Class 2 secured priority claims of mechanics' lien claimants will
be paid in full.

Class 3 secured claim of U.S. Hung Wui Investments, Inc. will
receive deferred cash payments in monthly instalments.  The Class
3 claimants will also retain its lien with the existing level of
priority.  The Plan did not provide for the estimated percentage
recovery by holders of unsecured claims.

Class 4 secured junior priority claims of mechanics' lien
claimants will be paid in full at any time in an amount which the
holder of all claim agrees to accept and the Reorganized Debtor
agrees to pay.  The source of payment will be the mechanics' lien
fund.  The Plan did not provide for the estimated percentage
recovery by holders of unsecured claims.

Class 5 unsecured claims will receive a pro rata payment from the
mechanics' lien fund.  The Reorganized Debtor will make
supplemental pro rata distributions to Class 5 claimants of all
amounts reserved to pay disputed claims.  Class 5 claimants will
also receive, to the extent of available funds, pro rata
supplemental distributions of 50% of the net operating profits for
each full 12 calendar month period after the effective date.

Class 6 interest holders will not receive nor retain any property
on account of the interest.

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

The Debtor is represented by:

     Todd C. Ringstad
       E-mail: todd@ringstadlaw.com
     Christopher A. Minier, Esq.
       E-mail: cminier@ringstadlaw.com
     Ringstad & Sanders, LLP
     2030 Main Street, 12th Floor
     Irvine, CA 92614
     Tel: (949) 851-7450
     Fax: (949) 851-6926

                          About F & F LLC

Rancho Cucamonga-based F & F LLC owns a commercial/retail property
located at 11910-11960 Foothill Boulevard, Ranch Cucamonga,
California 91730.  The Debtor has successfully obtained
development entitlements for the 10-acre property and has
transformed it into a multi-building retail shopping center known
as the Victoria Promenade.

F & F LLC filed for Chapter 11 bankruptcy protection on November
20, 2009 (Bankr. C.D. Calif. Case No. 09-38204).  Todd C.
Ringstad, Esq., who has an office in Irvine, California, assists
the Company in its restructuring effort.  The Company listed
$10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities in its petition.


FAIRFAX CROSSING: Section 341(a) Meeting Scheduled for August 6
---------------------------------------------------------------
The U.S. Trustee for Region 4 will convene a meeting of Fairfax
Crossing II LLC's creditors on August 6, 2010, at 10:00 a.m.  The
meeting will be held at City Hall, 1st Floor - Municipal
Courtroom, 232 North Queen Street, Martinsburg, WV 25401.

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

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

Charles Town, West Virginia-based Fairfax Crossing II LLC filed
for Chapter 11 bankruptcy protection on June 29, 2010 (Bankr.
N.D.W.V. Case No. 10-01368).  Richard G. Gay, Esq., at the Law
Office of Richard G. Gay, assists the Company in its restructuring
effort. The Company listed $10,000,001 to $50,000,000 in assets
and $1,000,001 to $10,000,000 in liabilities.

The Company's affiliate, Turf LLC, filed a separate Chapter 11
petition on April 29, 2010 (Case No. 10-00970).


FAIRFAX CROSSING: Taps Logan Yumkas as Bankruptcy Counsel
---------------------------------------------------------
Fairfax Crossing II LLC has sought permission from the U.S.
Bankruptcy Court for the Northern District of West Virginia to
employ Logan, Yumkas, Vidmar & Sweeney LLC as bankruptcy counsel.

Logan Yumkas will, among other things:

     a. advise the Debtor concerning, and assist in the
        negotiation and documentation of, financing agreements,
        debt restructurings, cash collateral arrangements and
        related transactions;

     b. review the nature and validity of liens asserted against
        the property of the Debtor and advise the Debtor
        concerning the enforceability of the liens;

     c. advise the Debtor concerning the actions that it might
        take to collect and to recover property for the benefit of
        the Debtor's estate; and

     d. prepare applications, motions, pleadings, draft orders,
        notices, schedules and other documents, and review all
        financial and other reports to be filed in the Debtor's
        Chapter 11 case.

Logan Yumkas will be paid based on the hourly rates of its
personnel:

        Lawrence J. Yumkas                     $375
        Partners                             $300-$375
        Associates                           $225-$250
        Paralegals                           $125-$150

Lawrence J. Yumkas, a partner at Logan Yumkas, assures the
Court that the firm is a "disinterested person," as that term is
defined in section 101(14) of the Bankruptcy Code, as modified by
section 1107(b) of the Bankruptcy Code.

Charles Town, West Virginia-based Fairfax Crossing II LLC filed
for Chapter 11 bankruptcy protection on June 29, 2010 (Bankr.
N.D.W.V. Case No. 10-01368).  The Company listed $10,000,001 to
$50,000,000 in assets and $1,000,001 to $10,000,000 in
liabilities.

The Company's affiliate, Turf LLC, filed a separate Chapter 11
petition on April 29, 2010 (Case No. 10-00970).


FAIRFAX CROSSING: Wants to Hire Richard G. Gay as Local Counsel
---------------------------------------------------------------
Fairfax Crossing II LLC has asked for authorization from the U.S.
Bankruptcy Court for the Northern District of West Virginia to
employ the Law Office of Richard G. Gay, L.C., as local counsel.

Richard C. Gay will perform legal services that may be necessary
during the administration of the Debtor's Chapter 11 case.

Richard C. Gay will be paid based on the hourly rates of its
personnel:

     Richard G. Gay                 $225
     Partners                       $225
     Associates                  $195-$225
     Paralegals                  $75-$100

Richard G. Gay, a partner at Richard G. Gay, assures the
Court that the firm is a "disinterested person," as that term is
defined in section 101(14) of the Bankruptcy Code, as modified by
section 1107(b) of the Bankruptcy Code.

Charles Town, West Virginia-based Fairfax Crossing II LLC filed
for Chapter 11 bankruptcy protection on June 29, 2010 (Bankr.
N.D.W.V. Case No. 10-01368).  The Company listed $10,000,001 to
$50,000,000 in assets and $1,000,001 to $10,000,000 in
liabilities.

The Company's affiliate, Turf LLC, filed a separate Chapter 11
petition on April 29, 2010 (Case No. 10-00970).


FAIRPOINT COMMS: New Hampshire Regulators Approve Plan
------------------------------------------------------
Kathy McCormack at The Associated Press reports that New
Hampshire's Public Utilities Commission approved a plan by
FairPoint Communications, saying the Company has made steady
progress in addressing its operational problems and it has
significantly upgraded the talent level on its board of directors
and in senior management in the most critical areas.

A final plan awaits confirmation by the U.S. Bankruptcy Court, The
AP notes.

The AP relates that Vermont regulators rejected the {lan because
it could not find that the Company had demonstrated the financial
capability to meet its obligations, while Maine regulators
approved the plan in June 2010.

                   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.


FIRST INDUSTRIAL: Cut by S&P to 'B+' on Less-Than-Adequate Cash
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
ratings on First Industrial Realty Trust Inc. and First Industrial
L.P. to 'B+' from 'BB-'.  At the same time, S&P lowered its rating
on the company's senior unsecured notes to 'BB-' from 'BB'.  S&P's
recovery rating on the notes is unchanged at '2', indicating its
expectations for a substantial recovery for noteholders in the
event of a payment default.  S&P also lowered its rating on the
company's preferred stock to 'CCC+' from 'B-'.  The outlook
remains negative.

"S&P's ratings on First Industrial reflect the company's less-
than-adequate liquidity and reliance on executing asset sales,
secured debt financings, and possibly raising additional equity to
meet its 2011 capital needs," said Standard & Poor's credit
analyst George Skoufis.  "Additionally, S&P believes the company
will continue to operate with very limited cushion under its
credit facility covenants, which will also constrain its financial
flexibility.  However, the company has modest near-term capital
needs until a September 2011 debt maturity, and its sizable
industrial portfolio, which has good geographic and tenant
diversity, remains largely unencumbered."

S&P's negative outlook reflects its belief that First Industrial's
cash flow and coverage metrics will remain under pressure,
particularly with respect to the current slim margin under its
credit facility covenants, and the possibility that the company
could suspend some or all of its preferred dividends to maintain
compliance with its covenant.  S&P would lower its ratings further
if the company were to breach any covenants, if market conditions
weaken and make it difficult for First Industrial to source
capital to meet its capital needs, or if S&P's derived FCC for the
company deteriorates from its current level.  Additionally, S&P
would lower the rating on the preferred securities further if the
likelihood of suspension increases.  S&P would consider raising
its rating if the company's liquidity profile improves
sufficiently to meet at least 12 months of capital needs, covenant
pressures abate, and its derived FCC improves to the high-1x area.


FOUNTAIN VILLAGE: Has Cash Collateral Access Until July 16
----------------------------------------------------------
The Hon. Randall L. Dunn of the U.S. Bankruptcy Court for the
District of Oregon authorized Fountain Village Development to use
the cash collateral until July 16, 2010, and grant adequate
protection.

The Debtor would use the cash collateral, which Sam and Michele
Pishue claim a security interest, to operate its business
postpetition.

Portland, Oregon-based Fountain Village Development, a general
partnership, aka Fountain Village Development Co, owns, develops,
operates, manages, and/or leases 20 buildings in Portland,
Hillsboro, and Gearhart, Oregon.  The Company has filed for
Chapter 11 bankruptcy protection on November 20, 2009 (Bankr. D.
Ore. Case No. 09-39718).  Albert N. Kennedy, Esq., and Ava L.
Schoen, Esq., who have offices in Portland, Oregon, assist the
Company in its restructuring effort.  The Company listed
$50,000,001 to $100,000,000 in assets and $50,000,001 to
$100,000,000 in liabilities.


FOUNTAIN VILLAGE: Amends Plan of Reorganization Outline
-------------------------------------------------------
Fountain Village Development filed with the U.S. Bankruptcy Court
for the District of Oregon an amended Disclosure Statement
explaining the proposed Plan of Reorganization.

According to the Disclosure Statement, each secured creditor will
retain its security interest in and liens on its collateral with
the same priority the security interest and liens had on the
petition date.  Each claim will be a secured claim up to the value
of the property securing the claim unless the claimant elects
treatment, or the Debtor and claimant have agreed upon the secured
claim amount.  The Debtor will either (a) deed certain of the
properties securing a creditor's claim to that creditor in full
satisfaction of the secured claim or (b) keep the property as a
retained property.

Creditors holding general unsecured claims will receive pro rata
distributions of 50% of excess cash flow generated by the
Reorganized Company on an annual basis until unsecured claims are
paid in full or otherwise satisfied pursuant to the Plan.

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

                 About Fountain Village Development

Portland, Oregon-based Fountain Village Development, a general
partnership, aka Fountain Village Development Co, owns, develops,
operates, manages, and/or leases 20 buildings in Portland,
Hillsboro, and Gearhart, Oregon.  The Company has filed for
Chapter 11 bankruptcy protection on November 20, 2009 (Bankr. D.
Ore. Case No. 09-39718).  Albert N. Kennedy, Esq., and Ava L.
Schoen, Esq., who have offices in Portland, Oregon, assist the
Company in its restructuring effort.  The Company listed
$50,000,001 to $100,000,000 in assets and $50,000,001 to
$100,000,000 in liabilities.


FX REAL ESTATE: Posts $10.9 Million Net Loss in Q1 of 2010
----------------------------------------------------------
FX Real Estate and Entertainment Inc. filed its quarterly report
on Form 10-Q, reporting a net loss of $10.9 million on
$4.3 million of revenue for the three months ended March 31, 2010,
compared with a net loss of $2.9 million on $4.6 million of
revenue for the same period of 2009.

The Company's balance sheet at March 31, 2010, showed
$141.3 million in assets and $503.7 million of liabilities, for a
stockholders' deficit of $362.4 million.

As reported in the Troubled Company Reporter on April 15, 2010, LL
Bradford, in Las Vegas, expressed substantial doubt about the
Company's ability to continue as a going concern.  The independent
auditors noted that the Company has limited available cash, has a
working capital deficiency and will need to secure new financing
or additional capital in order to pay its obligations, and the
Company's Las Vegas Subsidiary is in default under the mortgage
loan secured by the Las Vegas Property.

The Company has no current cash flow and cash on hand as of
May 14, 2010, is not sufficient to fund its short-term liquidity
requirements, including its ordinary course obligations as they
come due.  On April 21, 2010, the Company's remaining Las Vegas
subsidiary, namely FX Luxury Las Vegas I, LLC filed a voluntary
petition for relief under Chapter 11 of the Bankruptcy Code
(Bankr. D. Nev. Case No. 10-17015), pursuant to which the Las
Vegas Subsidiary presented its pre-packaged plan in accordance
with the Effective Lock Up Agreement with the first lien lenders
with respect to their mortgage loan, and the Newco Entities, two
corporate affiliates (LIRA Property Owner, LLC and its parent
LIRA, LLC) of Robert F.X. Sillerman, Paul C. Kanavos and Brett
Torino, who are directors, executive officers and/or greater than
10% stockholders of the Company.  The Effective Lock Up Agreement
contemplates the orderly liquidation of the Las Vegas Subsidiary
in the bankruptcy case by disposing of its Las Vegas Property
(approximately 17.72 contiguous acres of real property located at
the southeast corner of Las Vegas Boulevard and Harmon Avenue in
Las Vegas, Nevada) for the benefit of the Las Vegas Subsidiary's
creditors either pursuant to an auction sale for at least
$256 million or, if the auction sale is not completed, pursuant to
a prearranged sale to the Newco Entities under the terms of the
bankruptcy case's plan of liquidation.

Under the Liquidation Plan, it is extremely unlikely the Company
will receive any benefit from the disposition of the Las Vegas
Property.

The Company believes that the aforementioned conditions raise
substantial doubt 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?6300

FX Real Estate and Entertainment Inc. owns and operates 17.72
contiguous acres of land located at the southeast corner of Las
Vegas Boulevard and Harmon Avenue in Las Vegas, Nevada.  The Las
Vegas Property is currently occupied by a motel and several
commercial and retail tenants with a mix of short and long-term
leases.  On June 23, 2009, as a result of the default on the
$475 million mortgage loan secured by the Las Vegas property,
the first lien lenders had a receiver appointed to take control of
the property and, as a consequence, the Company's Las Vegas
Subsidiary, namely  FX Luxury Las Vegas I, LLC, no longer manages
or operates the property.  The Company is headquartered in New
York City.


GATEHOUSE MEDIA: Bank Debt Trades at 60% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which GateHouse Media,
Inc., is a borrower traded in the secondary market at 40.08 cents-
on-the-dollar during the week ended Friday, July 9, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 0.50
percentage points from the previous week, The Journal relates.
The Company pays 200 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Feb. 27, 2014, and carries
Moody's Ca rating and Standard & Poor's CCC- rating.  The debt is
one of the biggest gainers and losers among 204 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

GateHouse Media Inc. released its full-year 2009 results,
reporting a net loss of $530.6 million for the year ended Dec. 31,
2009, from a net loss of $673.3 million in 2008.

Total reported revenues were $150.2 million for the fourth
quarter, a decline of 10.3% over the prior year.  The decline in
same-store revenue was driven primarily by print local and
classified advertising categories, which were down 10.2% and
16.6%, respectively.  Circulation revenues declined 3.6% for the
quarter on a same-store basis.  Commercial printing and other
revenues declined 23.1% in the quarter on a same-store basis.

The Company's balance sheet at Dec. 31, 2009, showed
$591.2 million in assets and $1.3 billion in liabilities,
resulting to a $753.0 million stockholders' deficit.

GateHouse Media, Inc. -- http://www.gatehousemedia.com/--
headquartered in Fairport, New York, is one of the largest
publishers of locally based print and online media in the United
States as measured by its 97 daily publications.  GateHouse Media
currently serves local audiences of more than 10 million per week
across 21 states through hundreds of community publications and
local Web sites.


GENCORP INC: Reports $13.5 Net Income for 2nd Quarter of 2010
-------------------------------------------------------------
GenCorp Inc. reported results for the second quarter of 2010.
Net income for the second quarter of 2010 was $13.5 million, or
$0.19 diluted earnings per share, compared to net income of
$9.2 million, or $0.16 diluted earnings per share for the second
quarter of 2009.

Sales for the second quarter of 2010 increased to $232.3 million
from $181.5 million in the second quarter of 2009.  The increase
in net sales was primarily due to the following:

     i) the release of NASA funding constraints on the Orion
        program generating $16.2 million of additional net sales;

    ii) awards received in 2009 on divert and attitude control
        system programs generating $12.7 million of additional net
        sales;

   iii) increased deliveries and follow-on awards received in 2009
        on the Multiple Launch Rocket System program generating
        $6.4 million of additional net sales; and

    iv) increased deliveries under the Tube-launched, Optically-
        tracked, Wire-guided Missile program generating
        $5.9 million of additional net sales.

Sales for the first half of 2010 increased to $417.4 million from
$350.8 million in the first half of 2009.  The increase in net
sales was primarily due to the following:

     i) the release of NASA funding constraints on the Orion
        program generating $26.7 million of additional net sales;

    ii) awards received in 2009 on divert and attitude control
        system programs generating $21.4 million of additional net
        sales; and

   iii) increased deliveries on the MLRS program generating
        $9.2 million of additional net sales.

The increase in net sales was partially offset by a decline in
deliveries of rocket motors under the Atlas V program in the
current period compared to the prior year period.

Segment performance for the second quarter of 2010 was income of
$20.6 million compared to income of $23.3 million in the second
quarter of 2009.  Segment performance was income of $30.1 million
in the first half of 2010 compared to income of $37.9 million in
the first half of 2009. The decrease in segment performance in
both periods was primarily the result of an increase in non-cash
retirement benefit plan expense in 2010 partially offset by the
contribution from higher net sales.

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?663b

                        About GenCorp Inc.

Rancho Cordova, Calif.-based GenCorp Inc. (NYSE: GY)
-- http://www.GenCorp.com/-- is a manufacturer of aerospace and
defense products and systems with a real estate segment that
includes activities related to the re-zoning, entitlement, sale,
and leasing of the Company's excess real estate assets.

The Company's balance sheet as of February 28, 2010, showed
$1.019 billion in assets, $1.287 billion of debts, and
$5.5 million of redeemable common stock, for a stockholders'
deficit of $273.5 million.

                           *     *     *

On March 26, 2010, Moody's Investors Service upgraded both GenCorp
Inc.'s Corporate Family Rating to B2 from B3 and Probability of
Default ratings to B2 from Caa1.  In addition, the senior secured
credit facilities were upgraded to Ba2 from Ba3, as well as the
convertible subordinated notes to Caa1 from Caa2.  The 9-1/2%
senior subordinated notes were confirmed at B1.

On January, 22, 2010, Standard & Poor's Ratings Services raised
its ratings of GenCorp Inc. to B- from CCC+ and removed all
ratings from CreditWatch.


GENERAL GROWTH: Gets $400 Million New Loan From Barclays
--------------------------------------------------------
General Growth Properties Inc. has forged a new $400 million
debtor-in-possession financing agreement with Barclays Bank PLC, a
move the bankrupt mall owner said would save it $2.7 million per
month in interest payments, Bankruptcy Law360 reports.

Law360 says the company sought approval for the deal in a motion
filed Thursday in the U.S. Bankruptcy Court for the Southern
District of New York.

                        About General Growth

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

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

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


GEO GROUP: Moody's Assigns 'Ba3' Rating on $750 Mil. Senior Loan
----------------------------------------------------------------
Moody's Investors Service assigns a (P) Ba3 rating to GEO Group,
Inc.'s proposed $750 million senior secured credit facility.  The
facility is intended to partially finance the acquisition of
Cornell Companies.  All of GEO Group's ratings remain under review
direction uncertain, pending the completion of its merger with
Cornell Companies, Inc., expected to close in the third quarter
2010.

On April 19, 2010, the GEO Group announced plans to acquire
Cornell for stock and/or cash at an estimated enterprise value
of $685 million including the assumption of approximately
$300 million in Cornell debt.  The proposed bank facility includes
a new $400 million 5-year revolving credit facility; $150 million
5-year Term Loan A; and $200 million 6-year Term Loan B.  Proceeds
from the term loans and draws on the revolver will be used to
satisfy the cash component of the transaction, refinancing
existing GEO bank debt and Cornell's recourse debt upon completion
of the merger.

Effective leverage is expected to increase to 43% upon closing
from 37% as of April 4, 2010 and secured debt will increase to 32%
from 21%.  Other concerns center on the successful integration of
the two companies.  Cornell's Adult Secure Division will fold into
GEO Group's U.S. Corrections.  Cornell's Adult Community-Based
Services and Abraxas Youth and Family Services are new operating
platforms for the GEO Group, and will fall under the company's GEO
Care Division which provides behavioral health & correctional
healthcare services.

Counterbalancing these concerns, the acquisition will add size and
diversity to GEO Group.  Operating Revenue is estimated to
increase to approximately $1.5 billion (based on FY2009) from
$1.0 billion and the number of beds will increase to approximately
79,000 from 58,000.  The Adult Community-Based Services and
Abraxas Youth Family Services expands GEO Group's already diverse
operating platform and client base which includes international
operations in Australia, the U.K. and South Africa.

In the short to intermediate term, Moody's notes the full benefit
of expanded capacity may be muted due to the uncertainty of new
contracts.  Severe budgetary pressures on federal, state and local
governments may curtail new contracts.  On the other hand, some
expect governments to turn to private correction companies as part
of the solution to budget deficits.  In general, state and federal
prisons are operating at or above capacity and governments now
lack the funds to invest capital in new facilities.  Beyond this,
private prison companies can run facilities in a more cost
efficient manner as they are not confined by the same higher labor
costs requirements (including pension costs) of governmental
entities.

The ratings remain under review pending the shareholder vote and
closing anticipated in the third quarter 2010.  Moody's notes that
should the transactions close as expected by GEO Group, the pro-
forma credit metrics for the company will likely weaken, yet the
company's financial profile should remain within its existing
rating category.

This rating was assigned and is under review direction uncertain:

* GEO Group, Inc. -- Proposed $750 million senior secured credit
  facility at (P) Ba3

These ratings remain under review direction uncertain:

* GEO Group, Inc. -- Ba3 senior secured; B1 senior unsecured; Ba3
  corporate family.

Moody's last rating action with respect to GEO Group, Inc., was on
April 19, 2010, when Moody's placed the ratings under review
direction uncertain.

The GEO Group, Inc., is based in Boca Raton, Florida, USA and is a
provider of government-outsourced services specializing in the
management of correctional, detention and mental health and
residential treatment facilities in the United States, Australia,
the United Kingdom, South Africa, and Canada.  As of April 4,
2010, GEO managed approximately 53,000 beds and had an additional
4,000 beds under development.


GLEN ROSE: Filing of Annual Report for FY 2010 to be Delayed
------------------------------------------------------------
Glen Rose Petroleum Corp. discloses that its annual report on Form
10-K for the fiscal year ended March 31, 2010, could not be filed
within the prescribed time period because it needs additional time
to allow its auditors to complete its audit, due to a significant
transaction that closed in the fourth quarter.  The Company says
it does not anticipate any significant change in results of
operations from the corresponding period for the last fiscal year.

                    About Glen Rose Petroleum

Glen Rose Petroleum Corp. -- http://www.glenrosepetroleum.com/--
is focused on the development of on-shore US oil and gas assets.
Glen Rose has four leases covering 10,500 acres in the Wardlaw
Field located in Edwards County, Texas.   The oil is categorized
as "medium crude," the deposits are in the light gravity range of
heavy oil at 18-22 API gravity.  The Company was formerly known as
United Heritage Corporation and is headquartered in Dallas, Texas.

At December 31, 2009, the Company's consolidated balance sheets
showed total assets of $6,452,580, total liabilities of
$3,630,305, and total shareholders' equity of $2,822,275.

                          *     *     *

As reported in the Troubled Company Reporter on March 3, 2010, the
Company's substantial losses from operations and working
capital deficit raise substantial doubt as to its ability to
continue as a going concern.  The Company had a net loss of
$984,268 for the nine months ended December 31, 2009, and
a net loss of $2,181,974 for the fiscal year ended March 31, 2009,
and, as of the same periods, the Company had an accumulated
deficit of $49,417,037, and $48,432,770, respectively.


GRAFTON PROPERTIES: Case Summary & 5 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Grafton Properties, LLC
        Suite A-1, 44 Grafton St
        Hartford, CT 06106

Bankruptcy Case No.: 10-22291

Chapter 11 Petition Date: July 6, 2010

Court: United States Bankruptcy Court
       District of Connecticut (Hartford)

Judge: Albert S. Dabrowski

Debtor's Counsel: Kevin L. Mason, Esq.
                  Law Offices of Kevin L. Mason
                  47 East Cedar Street
                  Newington, CT 06111
                  Tel: (860) 666-6022
                  Fax: (860) 666-6710
                  E-mail: kevin_mason_atty@sbcglobal.net

Scheduled Assets: $1,550,000

Scheduled Debts: $1,381,099

A list of the Company's 5 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ctb10-22291.pdf

The petition was signed by Jacquelyn Ranson-Serieux.


GRAPHIC PACKAGING: S&P Raises Corporate Credit Rating to 'BB-'
--------------------------------------------------------------
Standard & Poor's Ratings Services raised its ratings on Marietta,
Ga.-based Graphic Packaging International Inc., including the
corporate credit rating, to 'BB-' from 'B+'.  The rating outlook
is positive.

"The ratings upgrade reflects the greater-than-expected progress
that GPK has achieved in strengthening its financial risk profile,
and prospects for continued improvement over the next year," said
Standard & Poor's credit analyst Pamela Rice.  The company's total
adjusted debt at March 31, 2010, was $3.1 billion, about
$450 million less than a year earlier as the company used cash
flow generated from its core businesses and funds received from
alternative-fuel-mixture credits to reduce debt.

The rating outlook is positive, reflecting S&P's expectations that
GPK will continue to use its free cash flow to reduce debt, which
along with moderately improving earnings could lead to credit
measures that may be consistent with a higher rating.  In the near
term, S&P's rating incorporates a 5% to 10% increase in EBITDA in
2010 compared with 2009 as a result of continued productivity
improvements and improving market conditions.  In addition, S&P
expects the company to generate about $200 million of free cash
flow in 2010 based on S&P's EBITDA projections, and use it
primarily to reduce debt.  Specifically, S&P believes adjusted
leverage could improve to the mid-4x area and FFO to adjusted debt
could increase to nearly 15% by year-end 2010 if the company uses
its free cash flow to reduce debt.

S&P could raise the ratings if earnings and cash flow are
sufficiently robust because of the economic recovery and further
meaningful productivity improvements and cost reductions, and the
company reduces debt so that S&P believes adjusted leverage and
FFO to adjusted debt will improve, and be sustained in the 4x to
4.5x range and between 15% and 20%, respectively.  S&P could
revise the outlook to stable, although S&P views this as less
likely, if operating conditions are worse than S&P expects because
of a renewed slowdown in the U.S. economy, and GPK is unable to
maintain its adjusted leverage and FFO to adjusted debt below 5x
or greater than 10%, respectively.


HAMBONE DOG: Case Summary & 7 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Hambone Dog Properties, LLC
        109 Wicker Street
        Sanford, NC 27330
        Tel: (919) 770-0075

Bankruptcy Case No.: 10-05375

Chapter 11 Petition Date: July 6, 2010

Court: United States Bankruptcy Court
       Eastern District of North Carolina (Wilson)

Debtor's Counsel: Nigle B. Barrow, Jr., Esq.
                  P.O. Box 2714
                  Raleigh, NC 27602-2714
                  Tel: (919) 834-2116
                  Fax: (919) 831-4789
                  E-mail: texbarrow@att.net

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

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

The petition was signed by Clyde K. Atkins, member manager.

Debtor's List of 7 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
City of Lynchburg, VA     tax                    $22,520
Tax Collector
P.O. Box 8000
Lynchburg, VA 24505

BRC Deep River, LLC       common area,           $7,167
5826 Samet Drive,         maintenance
Suite 105
High Point, NC 27265

Pitt Country              tax                    $3,500
Tax Collector
P.O. Box 873
Greenville, NC 27835

Nash County               tax                    $1,636

City of Rocky Mount       tax                    $1,333

City of Rocky Mount       tax                    $1,333

Golden East Crossing      common area,           $1,086
                          maintenance


HAWKER BEECHCRAFT: Bank Debt Trades at 20% Off in Secondary Market
------------------------------------------------------------------
Participations in a syndicated loan under which Hawker Beechcraft
is a borrower traded in the secondary market at 80.17 cents-on-
the-dollar during the week ended Friday, July 9, 2010, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents a drop of 0.42 percentage points
from the previous week, The Journal relates.  The Company pays 200
basis points above LIBOR to borrow under the facility.  The bank
loan matures on March 26, 2014, and carries Moody's Caa1 rating
and Standard & Poor's CCC+ rating.  The debt is one of the biggest
gainers and losers among 204 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

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

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


HEMIWEDGE INDUSTRIES: Lenders Acquire All Outstanding Debt
----------------------------------------------------------
Pursuant to the provisions of an Assignment of Note, Loan
Documents and Security Interests dated June 30, 2010 by and among
Stillwater National Bank and Trust Company, as assignor, and Eads
Investments I, LLC and D. Bradley McWilliams, as assignees, the
New Lenders purchased from the Bank all outstanding indebtedness
and obligations of Hemiwedge Industries, Inc. and its subsidiary,
Hemiwedge Valve Corporation under and pursuant to the Loan and
Consolidation Agreement and certain other loan documents, each
dated September 30, 2008 among Borrowers, certain other parties
and the Bank.

As a condition of the purchase of the Prior Indebtedness by the
New Lenders from the Bank under the Assignment Agreement, the Bank
agreed to release the Borrowers from all obligations and
indebtedness to the Bank under the Original Loan Documents
pursuant to the terms of a Consent and Release Agreement dated
June 30, 2010.

As a condition of (a) the purchase by the New Lenders of the Prior
Indebtedness and all obligations of Borrowers to the Bank under
the Prior Loan Documents and (b) the agreement by the New Lenders
to extend and renew the Prior Indebtedness and obligations of the
Borrowers under the Prior Loan Documents and (c) the Lenders'
forbearance from accelerating the loans and Prior Indebtedness
under the Prior Loan Documents, the Corporation and Subsidiary
have agreed to enter into an Amended and Restated Loan Agreement
and certain other loan documents and security agreements with the
New Lenders all dated June 30, 2010 evidencing the Corporation's
and the Subsidiary's indebtedness and granting certain security
interests to the New Lenders.

The New Loan Documents dated June 30, 2010 consisted of:

     i) an Amended and Restated Loan Agreement by and among the
        Corporation, the Subsidiary and the New Lenders;

    ii) a 10% Amended and Restated Promissory Note in the
        aggregate principal amount of $706,125 issued by the
        Corporation and the Subsidiary in favor of the New
        Lenders;

   iii) an Amended and Restated Security Agreement by and among
        the Corporation, the Subsidiary and the New Lenders; and

    iv) a Stock Pledge and Security Agreement between the
        Corporation and the New Lenders.

In addition, the Corporation issued New Lenders 5-year common
stock purchase warrants to purchase 2,875,000 shares of the
Corporation's common stock; provided that the amount of Warrant
Shares shall be reduced to 575,000 shares of Common Stock at a
purchase price of $0.10 per share if, on or before August 15, 2010
either:

     i) New Lenders sell all of their interest in Note to a third
        party for the full outstanding balance thereunder, or

    ii) the Note is paid in full plus all interest and costs
        owed thereon all in the form and substance satisfactory to
        the New Lenders.

The Note has a maturity dates of June 30, 2011.  Interest accrues
on the Note at a rate of 10% and is to be paid on September 30,
2010, December 31, 2010, March 31, 2011 and the balance due on the
Maturity Date.  At the Corporation's option, interest may be paid
in Common Stock at a rate of 5,000 shares of Common Stock per day.

The Corporation granted New Lenders piggyback registration rights
with respect to their shares of Common Stock issuable upon
exercise of the Warrants and for shares of Interest Common Stock,
subject to certain cut backs and exclusions.  The Loan Agreement
also provides certain covenants on the Corporation and Subsidiary.

A full-text copy of the company's amended and restated promissory
note is available for free at http://ResearchArchives.com/t/s?6639

                          About Hemiwedge

Hemiwedge Industries, Inc., and its wholly owned subsidiary
Shumate Machine Works, Inc., in October 2008, consummated the sale
of substantially all of Machine Works' assets to American
International Industries, Inc.  The sale was effected pursuant to
an asset purchase agreement pursuant to which Machine Works
transferred substantially all of its assets and certain enumerated
liabilities to Purchaser.  The aggregate purchase price was
$6,703,749 consisting of assumption by Purchaser of (i) $5 million
of promissory notes due Stillwater National Bank and Trust Company
and (ii) $1,703,749 of certain other liabilities, including
without limitation, accounts payable of Machine Works.  The
Company also issued 1,401,170 shares of common stock to the
Purchaser as a purchase price adjustment of $420,351.

In February 2009, the Company changed its name from "Shumate
Industries, Inc." to "Hemiwedge Industries, Inc." to emphasize and
focus on its valve product technology after the sale of its
contract machining business.

                  Default Under Convertible Notes

Hemiwedge Industries has said on July 10, 2008, the principal
amount of $3,050,000 of its convertible notes was due and payable.
Its failure to make full payment on such maturity date constituted
a default under these notes.  The notes continue to bear interest
until payment.  At March 31, 2009, the total amount due under the
notes, including accrued interest was $3,584,365.

                   Default Under Stillwater Loan

Hemiwedge Industries also has said its September 2008 Loan and
Consolidation Agreement with Stillwater National Bank and Trust
Company provides that failure to pay when due any substantial
liability will constitute an event of default thereunder.
Hemiwedge said its failure to pay the convertible notes
constitutes a default under both the loan documents.  Accordingly,
Stillwater has the right to declare all indebtedness under such
loan documents due and payable.  At March 31, 2009, the total
amounts owed under all agreements to Stillwater was $751,000.

                       Sunbelt Arbitration

On June 23, 2008, Hemiwedge received notice from Sunbelt Machine
Works Corporation of its intention to seek arbitration in Houston,
Harris County Texas relating to a $150,000 termination payment due
under (and in connection with the termination of) a Stock Purchase
Agreement dated August 17, 2007.  Hemiwedge failed to make the
first 3 installment payments of $37,500 to Sunbelt on each of
October 25, 2007, February 20, 2008, and June 20, 2008, as
required under the Stock Purchase Agreement.  Sunbelt had
threatened litigation regarding this matter in April 2008, and
Hemiwedge was unable to come to terms on a settlement.  Sunbelt is
seeking an award of $150,000 and reasonable attorney's fees,
expenses and costs incurred to enforce their contractual rights.
Hemiwedge has recorded $178,995 in accrued expenses in its
financial statements to reflect this contingency.

On July 14, 2008, Hemiwedge entered into a letter agreement with
Sunbelt pursuant to which Sunbelt agreed to withdraw the notice of
arbitration until November 1, 2008, in exchange for an immediate
payment of $1,000 and installment payments of $500 on the 1st and
15th of each month until November 1, 2008.   On October 8, 2008,
Hemiwedge entered into a letter agreement with Sunbelt under which
Hemiwedge agreed to pay Sunbelt $75,000 in full satisfaction of
this matter; provided, however, that payment must be received by
Sunbelt within 90 days of the date of the letter for such
settlement to be effective.  Due to cash constraints, Hemiwedge
was unable to make the payment within the required 90 days.

In its quarterly report on Form 10-Q filed May 20, 2009, Hemiwedge
said Sunbelt has not informed the Company of any indication to
re-institute arbitration proceedings.


HERCULES OFFSHORE: Bank Debt Trades at 13% Off in Secondary Market
------------------------------------------------------------------
Participations in a syndicated loan under which Hercules Offshore,
Inc., is a borrower traded in the secondary market at 87.42 cents-
on-the-dollar during the week ended Friday, July 9, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.33
percentage points from the previous week, The Journal relates.
The Company pays 650 basis points above LIBOR to borrow under the
facility.  The bank loan matures on July 11, 2013, and carries
Moody's B2 rating and Standard & Poor's B- rating.  The debt is
one of the biggest gainers and losers among 204 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

As reported by the Troubled Company Reporter on June 10, 2010,
Standard & Poor's took several rating actions on eight U.S. oil
and gas companies, including Hercules Offshore, Inc., following an
industry review.  S&P's review of the sector follows its release
on June 1, 2010, which indicated S&P would review companies with
operating exposure to the Gulf of Mexico following the U.S.
Department of the Interior's extension of the moratorium on
drilling permits.  The six-month moratorium affects permits issued
for new drilling operations at water depths greater than 500 feet.
S&P believes that when the moratorium is eventually lifted, there
could be extensive delays in issuing new permits due to high
initial volume and new safety and operating standards imposed.

S&P downgraded Hercules Offshore's rating from (B/Negative/--) to
(B-/Negative/--).

The rating actions also reflect S&P's heightened concerns about
the burgeoning scope of the Macondo well disaster.  The flow of
oil into the Gulf of Mexico is likely to continue until at least
August.  Uncertainty about the ultimate remediation cost and
potential financial liabilities associated with the disaster has
already resulted in a rating downgrade of the corporate credit
rating of BP PLC (AA-/Watch Neg/A-1+).

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


HOME NATIONAL BANK: Closed; RCB Bank Assumes All Deposits
---------------------------------------------------------
Home National Bank of Blackwell, Okla., was closed on Friday,
July 9, 2010, by the Office of the Comptroller of the Currency,
which appointed the Federal Deposit Insurance Corporation as
receiver.  To protect the depositors, the FDIC entered into a
purchase and assumption agreement with RCB Bank of Claremore,
Okla., to assume all of the deposits of Home National Bank.

The 15 branches of Home National Bank will reopen during normal
business hours as branches of RCB Bank.  Depositors of Home
National Bank will automatically become depositors of RCB Bank.
Deposits will continue to be insured by the FDIC, so there is no
need for customers to change their banking relationship in order
to retain their deposit insurance coverage.  Customers of Home
National Bank should continue to use their existing branch until
they receive notice from RCB Bank that it has completed systems
changes to allow other RCB Bank branches to process their accounts
as well.

As of March 31, 2010, Home National Bank had around $644.5 million
in total assets and $560.7 million in total deposits.  RCB Bank
paid the FDIC a premium of 0.22 percent for the deposits of Home
National Bank.  In addition to assuming the deposits, RCB Bank
agreed to purchase around $340.7 million of the failed bank's
assets.

Customers who have questions about the transaction can call the
FDIC toll-free at 1-800-405-8357.  Interested parties also can
visit the FDIC's Web site at:

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

In a separate transaction with the FDIC, Enterprise Bank & Trust
of Clayton, Mo., agreed to purchase around $260.8 million of Home
National Bank's assets.  The FDIC will retain the remaining assets
for later disposition.

The FDIC and Enterprise Bank & Trust entered into a loss-share
transaction on $260.8 million of Home National Bank's assets
purchased from the FDIC.  Enterprise Bank & Trust will share in
the losses on the asset pools covered under the loss-share
agreement.  The loss-share transaction is projected to maximize
returns on the assets covered by keeping them in the private
sector.  The transaction also is expected to minimize disruptions
for loan customers.  For more information on loss share, visit:

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

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $78.7 million.  Compared to other alternatives, these
transactions were the "least costly" resolution for the FDIC's
DIF.  Home National Bank is the 90th FDIC-insured institution to
fail in the nation this year, and the first in Oklahoma.  The last
FDIC-insured institution closed in the state was First State Bank
of Altus, Altus, on July 31, 2009.


HOWARD RIFAS: Can Hire Brown Van Horn as Bankruptcy Counsel
-----------------------------------------------------------
The Hon. Raymond B. Ray of the U.S. Bankruptcy Court for the
Southern District of Florida authorized Howard Rifas to employ
David Marshall Brown, Esq., and the Law Firm of Brown, Van Horn
P.A. as counsel.

The firm is expected to represent the Debtor in all Chapter 11
proceedings.

Mr. Brown tells the Court that the firm's employment is on a
general retainer.

Mr. Brown assures the Court that the firm is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

Mr. Brown can be reached at:

     Brown, Van Horn P.A.
     330 N. Andrews Avenue, Suite 450
     Fort Lauderdale, FL 33301
     Tel: (954) 765-3166
     Fax: (954) 765-3382
     E-mail: David@BrownVanHorn.com

Pembroke Pines, Florida-based Howard Rifas filed for Chapter 11
bankruptcy protection on June 10, 2010 (Bankr. S.D. Fla. Case No.
10-26375).  David Marshall Brown, Esq., who has an office in Ft.
Lauderdale, Florida, assists the Company in its restructuring
effort.  The Company listed $500,001 to $1,000,000 in assets and
$100,000,001 to $500,000,000 in liabilities.


IDEAL FEDERAL SAVINGS BANK: Closed; FDIC Pays Out Insured Deposits
------------------------------------------------------------------
The Federal Deposit Insurance Corporation approved the payout of
the insured deposits of Ideal Federal Savings Bank.  The bank was
closed on Friday, July 9, 2010, by the Office of Thrift
Supervision, which appointed the FDIC as receiver.

The FDIC was unable to find another financial institution to take
over the banking operations of Ideal Federal Savings Bank.
Brokered deposits will be wired once brokers provide the FDIC with
the necessary documents to determine if any of their clients
exceed the insurance limits.  Customers who placed money with
brokers should contact them directly for more information about
the status of their funds.

As a convenience to local depositors, the FDIC has made
arrangements for the insured funds in demand accounts, savings
accounts, NOW accounts, insured CD's, and any other transactional
accounts to be transferred to the Manufacturers and Traders Trust
Company located at 715 N. Howard Street, Baltimore, Md.  M&T Bank
will also accept the failed bank's direct deposits from the
federal government, such as Social Security and Veterans' payments
through Saturday, Sept. 4.

Customers will have access to their accounts at the branch only
between Monday, July 12 and Saturday, July 24.  M&T Bank's hours
of operations are Monday through Friday from 9:00 a.m. to
6:00 p.m., and Saturday from 10:00 a.m. to 2:00 p.m.  Customers
who are interested in opening an account with M&T Bank must
present official government issued identification, a social
security card, and account number at the time the account is
opened.  It is important to note, however, that customers of Ideal
Federal Savings Bank will no longer be able to write checks and
must come in person to either claim their money or set up a new
account.  After July 24, the FDIC will mail any remaining funds to
the address on record for the owners of these accounts.

As of March 31, 2010, Ideal Federal Savings Bank had around
$6.3 million in total assets and $5.8 million in total deposits.

Customers who have questions about the transaction can call the
FDIC toll-free at 1-800-350-2746.  Interested parties also can
visit the FDIC's Web site at:

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

Customers of Ideal Federal Savings Bank with deposits exceeding
$250,000 at the bank may visit the FDIC's Web page "Is My Account
Fully Insured?" at

     https://www2.fdic.gov/drrip/afi/index.asp

The FDIC will retain all the assets for later disposition except
for cash, correspondent accounts, and loans fully secured by
deposits.

The cost to the FDIC's Deposit Insurance Fund is estimated to be
$2.1 million.  Ideal Federal Savings Bank is the 88th FDIC-insured
institution to fail in the nation this year, and the third in
Maryland.  The last FDIC-insured institution closed in the state
was Bay National Bank, Baltimore, earlier on July 9.


INNOVATIVE DESIGNS: Posts $53,350 Net Loss in Q2 Ended April 30
---------------------------------------------------------------
Innovative Designs, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss $53,350 on $118,414 of revenue for the three
months ended April 30, 2010, compared with a net loss of $144,473
on $57,666 of revenue for the same period of 2009.

The Company's balance sheet at April 30, 2010, showed $1,046,593
in assets, $850,202 of liabilities, and $196,391 of stockholders'
equity.

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

               http://researcharchives.com/t/s?6623

As reported in the Troubled Company Reporter on February 1, 2010,
Louis Plung & Company, LLP, in Pittsburgh, Pa., 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 October 31, 2009.  The independent auditors
noted that the Company has experienced significant losses from
operations and has as an accumulated deficit of $5,600,832 at
October 31, 2009.

                     About Innovative Designs

Headquartered in Pittsburgh, Pa., Innovative Designs, Inc.
(OTC.BB: IVDN - News) -- http://www.idigear.com/-- markets and
sells clothing products such as hunting apparel, and cold weather
gear called "Artic Armor" that are made from INSULTEX, a material
with buoyancy, scent block and thermal resistant proprieties.  The
Company obtains INSULTEX through a license agreement with the
owner and manufacturer of the material.


ISC BUILDING: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: ISC Building Materials, Inc.
        fka Insulation Supply Company
        fka ISC Building Materials, LP
        fka ISC Holdings GP
        fka ISC GENPAR, LLC
        fka 1400 West Commerce, LLC
        P.O. Box 223767
        Dallas, TX 75222

Bankruptcy Case No.: 10-35732

Chapter 11 Petition Date: July 6, 2010

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

Judge: Karen K. Brown

Debtor's Counsel: Donald L. Wyatt, Esq.
                  Wyatt Legal Services, PLLC
                  26418 Oak Ridge Rd.
                  The Woodlands, TX 77380
                  Tel: (281) 419-8733
                  Fax: (281) 419-8703
                  E-mail: don.wyatt@wyattpllc.com

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

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

The petition was signed by Brent Burns, CFO.

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


ISLE OF CAPRI: Bank Debt Trades at 7% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Isle of Capri
Casinos, Inc., is a borrower traded in the secondary market at
93.00 cents-on-the-dollar during the week ended Friday, July 9,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents a drop of
0.35 percentage points from the previous week, The Journal
relates.  The Company pays 175 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Dec. 19, 2013, and
carries Moody's B1 rating and Standard & Poor's B+ rating.  The
debt is one of the biggest gainers and losers among 204 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Isle of Capri Casinos, Inc., located in Saint Louis, Missourri,
owns and operates 18 casino properties throughout the U.S.  The
company also has international gaming interests in the Grand
Bahamas and England.  Net revenue for the 12-month period ended
Oct. 26, 2008, was about $1.1 billion.


JOHN HAMILTON: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: John H. Hamilton, Sr.
        P.O. Box 115
        Simonton, TX 77479

Bankruptcy Case No.: 10-35770

Chapter 11 Petition Date: July 6, 2010

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

Judge: Jeff Bohm

Debtor's Counsel: Calvin C. Braun, Esq.
                  Orlando & Braun LLP
                  3401 Allen Parkway, Suite 101
                  Houston, TX 77019
                  Tel: (713) 521-0800
                  Fax: (713) 521-0842
                  E-mail: calvinbraun@orlandobraun.com

Estimated Assets: $0 to $50,000

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

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

The petition was signed by the Debtor.


JOHN MILLER: Case Summary & 11 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: John Wesley Miller
        107 S. Water Street
        Chestertown, MD 21620

Bankruptcy Case No.: 10-25215

Chapter 11 Petition Date: July 6, 2010

Court: United States Bankruptcy Court
       District of Maryland (Baltimore)

Judge: Duncan W. Keir

Debtor's Counsel: Geri Lyons Chase, Esq.
                  Law Office of Geri Lyons Chase
                  2007 Tidewater Colony Drive, Suite 2A
                  Annapolis, MD 21401
                  Tel: (410) 573-9004
                  Fax: (410) 266-8269
                  E-mail: gerichase@verizon.net

Scheduled Assets: $1,828,550

Scheduled Debts: $4,331,910

A list of the Debtor's 11 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/mdb10-25215.pdf

The petition was signed by Mr. Miller.


LAS VEGAS SANDS: Bank Debt Trades at 12% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which Las Vegas Sands
Corp. is a borrower traded in the secondary market at 87.81 cents-
on-the-dollar during the week ended Friday, July 9, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 0.42
percentage points from the previous week, The Journal relates.
The Company pays 175 basis points above LIBOR to borrow under the
facility.  The bank loan matures on May 1, 2014, and carries
Moody's B3 rating and Standard & Poor's B- rating.

Meanwhile, participations in a syndicated loan under which
Venetian Macau US Finance Co., LLC, is a borrower traded in the
secondary market at 96.66 cents-on-the-dollar during the week
ended Friday, July 9, 2010, according to data compiled by Loan
Pricing Corp. and reported in The Wall Street Journal.  This
represents a drop of 0.39 percentage points from the previous
week, The Journal relates.  The Company pays 550 basis points
above LIBOR to borrow under the facility.  The bank loan matures
on May 25, 2011, and carries Moody's B3 rating and Standard &
Poor's B- rating.

The debt are two of the biggest gainers and losers among 204
widely quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Venetian Macau US Finance Co., LLC (also known as VML US Finance
LLC), and Venetian Macau Limited are wholly owned subsidiaries of
Las Vegas Sands.  Venetian Macau Limited owns the Sands Macau in
the People's Republic of China Special Administrative Region of
Macau and is also developing additional casino hotel resort
properties in Macau.

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


MARIA BOCCASINI: Case Summary & 6 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Maria T. Boccasini
        fka Maria T. Villani
        127 Sleepy Hollow Road
        Briarcliff Manor, NY 10510

Bankruptcy Case No.: 10-23368

Chapter 11 Petition Date: July 6, 2010

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

Judge: Robert D. Drain

Debtor's Counsel: Anne J. Penachio, Esq.
                  Penachio Malara LLP
                  235 Main Street, Sixth Floor
                  White Plains, NY 10601
                  Tel: (914) 946-2889
                  Fax: (914) 946-2882
                  E-mail: apenachio@pmlawllp.com
                          penachio.anne@gmail.com

Estimated Assets: $0 to $50,000

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

A list of the Debtor's 6 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nysb10-23368.pdf

The petition was signed by the Debtor.


MARVIN KATZ: Case Summary & 9 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Marvin Katz
        1718 Willow Grove Ave.
        Glenside, PA 19038

Bankruptcy Case No.: 10-15530

Chapter 11 Petition Date: July 6, 2010

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

Judge: Eric L. Frank

Debtor's Counsel: Carol L. Knowlton, Esq.
                  691 State Highway 33
                  Trenton, NJ 08619
                  Tel: (609) 890-1500
                  E-mail: cknowlton@teichgroh.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 9 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/paeb10-15530.pdf

The petition was signed by the Debtor.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
CGR Investors Limited Partnership      10-11785    03/09/10
Lamplighter Village Associates, LP     09-11035    02/16/09
Marcus Lee Associates, L.P.            09-11037    02/16/09


MERUELO MADDUX: BofA Criticizes Latest Reorganization Plan
----------------------------------------------------------
Meruelo Maddux Properties Inc. has come under fire yet again over
the latest version of its proposed blueprint for reorganization,
with Bank of America NA and other creditors assailing the cash-
strapped developer for putting forth a plan they claim suffers
from "serious informational defects," according to Bankruptcy
Law360.

                        About Meruelo Maddux

Based in Los Angeles, Meruelo Maddux Properties, Inc. --
http://www.meruelomaddux.com/-- is a self-managed, full-service
real estate company that develops, redevelops and owns commercial
and residential properties located in downtown Los Angeles and
other densely populated urban areas in California.   The Company's
operations are predominantly carried on through, and its assets
are owned through, Meruelo Maddux Properties, L.P., which the
Company refers to as its operating partnership.  As of
December 31, 2009, the Company held a 99.6% interest in its
operating partnership.  The Company is also the sole general
partner of its operating partnership.  The Company is structured
as a taxable corporation under Subchapter C of the Internal
Revenue Code of 1986, as amended.

As of December 31, 2009, the Company owns 27 rental projects and
16 projects held for real estate development.  Most of the
Company's projects are located in or around the downtown area of
Los Angeles.

On March 26 and March 27, 2009, Meruelo Maddux and 53 of its
direct and indirect subsidiaries and affiliates filed voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code
(Bankr. C. D. Calif. Lead Case No. 09-13356).  Aaron De Leest,
Esq., John J. Bingham, Jr., Esq., and John N. Tedford, Esq., at
Danning Gill Diamond & Kollitz, represent the Debtors in their
restructuring efforts.  Asa S. Hami, Esq., Tamar Kouyoumjian,
Esq., and Victor A. Sahn, Esq., at SulmeyerKupetz, A Prof Corp,
represent the official committee of unsecured creditors as
counsel.

On September 3, 2009, two additional MMPI subsidiaries, Meruelo
Maddux-845 S. Flower Street, LLC and Meruelo Chinatown, LLC (the
"Flower Debtors"), filed voluntary petitions for relief under
Chapter 11 of the Bankruptcy Code in the Bankruptcy Court, Case
Nos. 09-21621 and 09-21622, respectively.  These cases relate to
the Company's high-rise residential project at 705 W. Ninth
Street, and are not jointly administered under the Lead Chapter 11
Case.

The Debtors' financial condition as of December 31, 2008, showed
$681,769,000 in assets and $342,022,000 of debts.


MICHAELS STORES: Bank Debt Trades at 8% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Michaels Stores,
Inc., is a borrower traded in the secondary market at 92.39cents-
on-the-dollar during the week ended Friday, July 9, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 0.36
percentage points from the previous week, The Journal relates.
The Company pays 225 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Oct. 31, 2013, and carries
Moody's B2 rating and Standard & Poor's B rating.  The debt is one
of the biggest gainers and losers among 204 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

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

Michaels Stores, Inc., reported net income of $13 million for the
first quarter of fiscal 2010, a $9 million improvement from net
income of $4 million in the first quarter of fiscal 2009.  Total
sales for the quarter ended May 1, 2010, were $901 million, a 5.7%
increase from fiscal 2009 first quarter sales of $852 million.
Same-store sales for the comparable 13-week period increased 4.9%
of which 160 basis points were related to the positive impact of
foreign exchange rates.  First quarter operating income increased
$41 million to $105 million from $64 million in fiscal 2009.

At May 1, 2010, the Company had total assets of $1.56 billion
against total liabilities of $4.32 billion, resulting in
stockholders' deficit of $2.76 billion.


MILLENNIUM MULTIPLE: U.S. Trustee Forms Creditors Committee
-----------------------------------------------------------
Richard A. Wieland, the U.S. Trustee for Region 20, appointed
seven members to the official committee of unsecured creditors in
the Chapter 11 cases of Millennium Multiple Employer Welfare
Benefit Plan.

The Creditors Committee members are:

1. Various Participants
   Representative: John Malesovas
   816 Congress Avenue, Suite 1265
   Austin, TX 78701
   Tel: (512) 708-1777

2. Various Participants
   Representative: Kathryn E. Barnett
   1650 One Nashville Place
   150 Fourth Avenue North
   Nashville, TN 37219
   Tel: (615) 313-9000

3. Vivek Khetpal
   Representative: Vivek Khetpal
   1275 Mockingbird Lane
   Durant, OK 74701
   Tel: (580) 931-0500

4. Juli Jessen
   Representative: Christina Economou
   370 South Main Street
   Yuma, AZ 85364
   Tel: (928) 819-1576

5. Jeffrey Epstein
   Representative: Jeffrey Epstein
   1015 Redcedar Lane
   Houston, TX 77094
   Tel: (281) 556-8495

6. Shahe E. Vartivarian
   Representative: Salpi Vartivarian
   7777 Southwest Freeway, Suite 610
   Houston, TX 77074
   Tel: (713) 339-9949

7. Lester Lewis
   Representative: Lester Lewis
   9821 Spring Hill Drive
   Anchorage, AK 99507
   Tel: 907-346-3869

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.

Richardson, Texas-based Millennium Multiple Employer Welfare
Benefit Plan filed for Chapter 11 bankruptcy protection on June 9,
2010 (Bankr. W.D. Okla. Case No. 10-13528).  G. Blaine Schwabe,
III, Esq., at Mock Schwabe Waldo Elder Reeves & Bryant, assists
the Company in its restructuring effort.  The Company estimated
its assets and debts at $50,000,001 to $100,000,000.


MILLENNIUM MULTIPLE: Parties-in-Interest Wants Case Dismissed
-------------------------------------------------------------
Claude Young, et al., ask the U.S. Bankruptcy Court for the
Western District of Oklahoma to dismiss the Chapter 11 case of
Millennium Multiple Employer Welfare Benefit Plan.

Claude Young explained that:

   a. the Debtor is not an entity eligible to file a Chapter 11
      bankruptcy case;

   b. the Debtor's bankruptcy petition was not duly authorized by
      an appropriate governing body of the Debtor;

   c. the commencement of the case was not in good faith; its
      principal purpose being to gain a tactical advantage in non-
      bankruptcy litigation;

   d. there exists gross mismanagement of the estate of the
      Debtor, substantial and continuing loss to, or diminution
      of, the estate, and the absence of a reasonable likelihood
      of rehabilitation; and

   e. the interests of creditors and the debtor would be better
      served by dismissal.

                  About Millennium Multiple

Richardson, Texas-based Millennium Multiple Employer Welfare
Benefit Plan filed for Chapter 11 bankruptcy protection on June 9,
2010 (Bankr. W.D. Okla. Case No. 10-13528).  G. Blaine Schwabe,
III, Esq., at Mock Schwabe Waldo Elder Reeves & Bryant, assists
the Company in its restructuring effort.  The Company estimated
its assets and debts at $50,000,001 to $100,000,000.


MILLENNIUM MULTIPLE: Ch. 11 Trustee to Probe IRS Ruling on Plan
---------------------------------------------------------------
Claude Young, et al., ask the U.S. Bankruptcy Court for the
Western District of Oklahoma to appoint a Chapter 11 trustee in
the reorganization case of Millennium Multiple Employer Welfare
Benefit Plan.

Claude Young, et al., explained that in addition to their claim
to, and beneficial interest in, the Plan Assets, they also have
claims against various third-parties for damages resulting from
their solicitation and engagement as participants.

Claude Young, et al., add that the Internal Revenue Service ruled
that (i) the Plan does not qualify for treatment, hence,
contributions to the Plan are not, and were not, tax deductible,
and (ii) the Plan is an abusive tax shelter.

Based on IRS' ruling, the Plan participants, including Claude
Young, et al., are subject to IRS audits, appeals and collection
proceedings related to their participation in the Plan.

                     About Millennium Multiple

Richardson, Texas-based Millennium Multiple Employer Welfare
Benefit Plan filed for Chapter 11 bankruptcy protection on June 9,
2010 (Bankr. W.D. Okla. Case No. 10-13528).  G. Blaine Schwabe,
III, Esq., at Mock Schwabe Waldo Elder Reeves & Bryant, assists
the Company in its restructuring effort.  The Company estimated
its assets and debts at $50,000,001 to $100,000,000.


MORTGAGEBROKERS.COM: Posts $81,700 Net Loss in Q1 2010
------------------------------------------------------
MortgageBrokers.com Holdings, Inc., filed its quarterly report on
Form 10-Q, reporting a net loss of $81,676 on $3,117,297 of
revenue for the three months ended March 31, 2010, compared with a
net loss of $141,692 on $2,581,556 of revenue for the same period
of 2009.

The Company's balance sheet at March 31, 2010, showed
$2,100,668 in assets and $2,785,133 of liabilities, for a
stockholders' deficit of $684,465.

As reported in the Troubled Company Reporter on April 22, 2010,
McGovern, Hurley, Cunningham, LLP, in Toronto, 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 of the Company's operating losses, negative working
capital, and total capital deficiency.

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

               http://researcharchives.com/t/s?6624

Based in City of Vaughan, Ontario, MortgageBrokers.com Holdings,
Inc. provides mortgage brokerage services in the Canadian
provincial markets of Newfoundland, Nova Scotia, New Brunswick,
Prince Edward Island, Ontario, Saskatchewan and Alberta.


MPG OFFICE: Units Ink Omnibus Amendment to Loan With BoA
--------------------------------------------------------
MPG Office Trust Inc. said its subsidiaries and Bank of America
National Association entered into an Omnibus Amendment to Loan
Documents with respect to the $458.0 million non-recourse mortgage
loan on the Company's Gas Company Tower property.  This loan was
amended in connection with obtaining lender approval of a lease
renewal by Southern California Gas Company for approximately
350,000 square feet at the Gas Company Tower property.

A full-text copy of the Omnibus Amendment is available for free at
http://ResearchArchives.com/t/s?6630

                   About Maguire Properties, Inc.

Maguire Properties, Inc. (NYSE: MPG) --
http://www.maguireproperties.com/-- is the largest owner and
operator of Class A office properties in the Los Angeles central
business district and is primarily focused on owning and operating
high-quality office properties in the Southern California market.
Maguire Properties, Inc. is a full-service real estate company
with substantial in-house expertise and resources in property
management, marketing, leasing, acquisitions, development and
financing.

                           *     *     *

The Company's balance sheet at March 31, 2010, showed $3.5 billion
in total assets and $4.3 billion in total liabilities, for a total
stockholders' deficit of $830.5 million.


NEFF CORP: U.S. Trustee Amends Members of Creditors Committee
-------------------------------------------------------------
Diana G. Adams, the U.S. Trustee for Region 2, amended the
official committee of unsecured creditors in the Chapter 11 cases
of Neff Corp., et al.

The Creditors Committee now consists of:

1. Footprints Asset Management
   c/o Steve Lococo
   11422 Miracle Hills Drive, Suite 208
   Omaha, NE 68154
   Tel: (402) 445-9333
   Fax: (402) 445-0526

2. Shirley L. Wong
   77 West Washington Street, Suite 505
   Chicago, Illinois 60602
   Tel: (312) 977-1020

3. Richard D. Almandi
   5750 NE Island Cove Way No. 3405
   Stuart, FL 34996-4302
   Tel: (414) 322-5429

4. Allen Daniel Barnett
   4631 Lake Norrell Rd.
   Alexander, AR 72002
   Tel: (501) 227-3225

5. Law Debenture Trust Company of New York
   Attn: Michael A. Smith, vice president
   400 Madison Avenue, Suite 4D
   New York, NY 10017
   Tel No: (212) 750-6474

6. Dan Camphausen
   7547 Hwy X
   Three Lakes, Wi 54562
   Tel: (630) 805-3596

7. Alan P. Nieman
   1728 Kingsbury Ln
   Nichols Hills, OK 73116
   Tel: (405) 475-7800

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

                         About Neff Corp.

Privately held Neff Corp., doing business as Neff Rental, provides
construction companies, golf course developers, industrial plants,
the oil industry, and governments with reliable and quality
equipment that is delivered on time where it is needed.  With more
than 1,000 employees operating from branches coast to coast, Neff
Rental is ranked by Rental Equipment Register (RER) magazine as
one of the nation's 10 largest  equipment rental companies.

Neff Corp. and its units, including Neff Rental Inc. filed for
Chapter 11 on May 17, 2010 (Bankr. S.D.N.Y. Case No. 10-12610).

Based in Miami, Neff has assets of $299 million and debt of
$609 million, according to the disclosure statement explaining the
plan.  Funded debt totals $580 million.  Revenue in 2009 was
$192 million.


NEFF CORP: Files Schedules of Assets and Liabilities
----------------------------------------------------
Neff Corp. filed with the U.S. Bankruptcy Court for the Southern
District of New York its schedules of assets and liabilities,
disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property           $28,752,235
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                              $541,795,400
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                       $35,867,000
                                 -----------      -----------
        TOTAL                    $28,752,235     $557,762,400

                         About Neff Corp.

Privately held Neff Corp., doing business as Neff Rental, provides
construction companies, golf course developers, industrial plants,
the oil industry, and governments with reliable and quality
equipment that is delivered on time where it is needed.  With more
than 1,000 employees operating from branches coast to coast, Neff
Rental is ranked by Rental Equipment Register (RER) magazine as
one of the nation's 10 largest  equipment rental companies.

Neff Corp. and its units, including Neff Rental Inc. filed for
Chapter 11 on May 17, 2010 (Bankr. S.D.N.Y. Case No. 10-12610).

Based in Miami, Neff has assets of $299 million and debt of
$609 million, according to the disclosure statement explaining the
plan.  Funded debt totals $580 million.  Revenue in 2009 was
$192 million.


NEIMAN MARCUS: Bank Debt Trades at 7% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Neiman Marcus
Group, Inc., is a borrower traded in the secondary market at 92.76
cents-on-the-dollar during the week ended Friday, July 9, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 0.63
percentage points from the previous week, The Journal relates.
The Company pays 200 basis points above LIBOR to borrow under the
facility.  The bank loan matures on April 6, 2013, and carries
Moody's B2 rating and Standard & Poor's BB- rating.  The debt is
one of the biggest gainers and losers among 204 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Neiman Marcus Group, Inc., headquartered in Dallas, Texas,
operates 40 Neiman Marcus stores, 2 Bergdorf Goodman stores, 27
clearance centers, and a direct business.  Total revenues are
about $3.9 billion.  The Company carries a 'Caa1' Corporate Family
Rating and 'Caa1' Probability of Default Rating from Moody's
Investors Service.


NORTH AMERICAN PETROLEUM: Wins Final Use of Cash Collateral
-----------------------------------------------------------
American Bankruptcy Institute reports that North American
Petroleum Corp. won final access on Tuesday to its cash collateral
from Bankruptcy Judge Christopher Sontchi.

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 TECHNOLOGIES: Wants to Disburse Carve-Outs
---------------------------------------------------------
North American Technologies Group, Inc. et al., ask the U.S.
Bankruptcy Court for the Eastern District of Texas to disburse the
professional fees carve-out of cash collateral into professionals'
trust accounts.

The Debtor relate that the final order to access Opus 5949 LLC's
cash collateral does not include the disbursement of carve outs.

Out of an abundance of caution, the Debtors ask the Court's
permission to disburse the carve-outs to (i) the Official
Committee of Unsecured Creditors' counsel, McNally & patrick
L.L.P. ($50,000); and Rochelle McCullough, the Debtors' counsel,
($90,000), for each law firm to hold in their respective trust
accounts.

The secured lender and the Committee consented to the Debtors' use
of the carve-out of the cash collateral.

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.


OPTI CANADA: To Hold Conference to Review 2nd Quarter Results
-------------------------------------------------------------
OPTI Canada Inc. said it will conduct a conference call to review
the Company's second quarter 2010 financial and operating results
on Thursday, July 15, 2010 at 6:30 a.m. Mountain Time.  Chris
Slubicki, President and Chief Executive Officer, and Travis
Beatty, Vice President, Finance and Chief Financial Officer, will
host the call.

                            About OPTI

OPTI Canada Inc. is a Calgary, Alberta-based company focused on
developing major oil sands projects in Canada using its
proprietary OrCrude(TM) process.  OPTI's common shares trade on
the Toronto Stock Exchange under the symbol OPC.

OPTI continues to carry Moody's Caa2 corporate rating and Standard
& Poor's B- corporate rating.

The Company's balance sheet at March 31, 2010, showed
C$3.7 billion in total assets and C$2.5 billion in total
liabilities for a C$763.0 million in stockholders' deficit.


ORIENTAL TRADING: Cut by S&P to 'D' on Missed Interest Payment
--------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on direct marketer Oriental Trading Co. Inc. to 'D'
from 'CC'.  At the same time, S&P lowered its bank loan rating on
the company's $180 million second-lien facility to 'D' from 'C'
and kept the '6' recovery rating on the debt unchanged.

S&P also affirmed its 'CC' bank loan rating on the company's
$460 million first-lien facility.  S&P kept the '4' recovery
rating on the facility unchanged.

The rating on OTC reflects its missed second-lien debt interest
payment, which was due May 31, 2010.

During its fourth quarter ended April 3, 2010, and subsequent to
its fiscal year-end, the company obtained additional waivers and
amendments to its first-lien credit agreement.  The company is
currently seeking to reorganize its capital structure and is
operating under a short-term waiver and amendment, which expires
on Aug. 18, 2010.

The auditors' report for fiscal year ended April 3, 2010, contains
going concern language if the company is unable to reorganize its
capital structure in the near term.


OSI RESTAURANT: Bank Debt Trades at 15% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which OSI Restaurant
Partners, Inc., is a borrower traded in the secondary market at
85.34 cents-on-the-dollar during the week ended Friday, July 9,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents a drop of
0.41 percentage points from the previous week, The Journal
relates.  The Company pays 225 basis points above LIBOR to borrow
under the facility.  The bank loan matures on May 9, 2014, and
carries Moody's B3 rating and Standard & Poor's B+ rating.  The
debt is one of the biggest gainers and losers among 204 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

OSI Restaurant Partners, Inc., is the #3 operator of casual-dining
spots (behind Darden Restaurants and Brinker International), with
more than 1,400 locations in the U.S. and 20 other countries.  Its
flagship Outback Steakhouse chain boasts more than 950 locations
that serve steak, chicken, and seafood in Australian-themed
surroundings.  OSI also operates the Carrabba's Italian Grill
chain, with about 240 locations.  Other concepts include Bonefish
Grill, Fleming's Prime Steakhouse, and Cheeseburger In Paradise.
Most of the restaurants are company owned.  A group led by
chairman Chris Sullivan took the company private in 2007.


OTTER TAIL: Fitch Affirms Preferred Stock Rating at 'BB'
--------------------------------------------------------
Fitch Ratings has affirmed the Issuer Default Rating of Otter Tail
Corp. at 'BBB-'.  Fitch also affirms the IDR of OTTR's wholly
owned subsidiary Otter Tail Power at 'BBB'.  The Rating Outlook is
Stable for both entities.

OTTR's current IDR of 'BBB-' takes into consideration the
company's unusual business portfolio including a relatively small
electric utility and a mix of small cyclical industrial businesses
that operate in fragmented and competitive markets.  OTTR
generally does not benefit from advantageous size and scale in its
industrial markets.  The 2008-2009 recession revealed the
vulnerability of OTTR's business portfolio; the cyclical
industrial and service businesses experienced steep declines, and
the electric utility's operating cash flow also dropped due to
reduced customer demand and low prices for excess power sold into
the wholesale market.

The effect of the downturn on 2009 cash flow was moderated by the
realization of tax refunds and investment tax credits.  Also, low
debt leverage at the parent company and moderate debt leverage of
the utility subsidiary limited the distress as a result of lower
cyclical business conditions.  The Stable Outlook for the parent
is based on a base rating case in which Fitch assumed a moderate
recovery in certain of the diversified industrial businesses but
not a rebound to the 2007 levels of profitability.

High common dividend payout in excess of earnings and a large
capital investment budget will pose a funding challenge for OTTR
after 2010.  Management forecasts a step-up in planned capital
spending in 2011-2014 (averaging $147 million per annum for the
utility and $40 million per annum for diversified businesses) that
would entail external financing.  Fitch's base rating case assumes
that OTTR will fund with a balanced mix of equity and debt so as
to maintain the current debt leverage.

OTP's IDR of 'BBB' is consistent with the utility's stand-alone
financial measures and supportive regulatory mechanisms in
Minnesota and North and South Dakota, including tracker mechanisms
to recover some costs of service.  Operating cash flow from the
utility business will depend on ongoing rate increases to recover
capital investment in increased investment in utility assets.
Also, OTP's wholesale power sales are subject to market price
exposure.  The majority of the group's capex going forward is
focused on utility projects; OTP plans to invest in wind
generation and network improvements.  OTP was previously a
participant in a consortium to build a coal baseload power plant,
Big Stone II, but that plan has been terminated by the consortium.

Fitch's ratings of OTTR and OTP take into consideration some
modest ring-fencing of the utility subsidiary from its parent and
other affiliates, a factor that reduces but does not eliminate
linkage between the ratings of OTTR and OTP.

Going forward, key factors to maintain the current rating and
Stable Outlook include: cyclical recovery in the diversified
industrial and business services segment; continuing rate
increases to support higher investment in the regulated electric
utility business; and a balanced mix of funding for new capital
investment without increasing debt leverage.

OTTR's business segments include the rate regulated electric
utility (in Minnesota and North and South Dakota) plus five non-
utility business segments, including such disparate activities as
plastics (producing PVC pipe); manufacturing (wind towers, metal
parts, waterfront equipment; horticultural containers); medical
imaging services, and sale of diagnostic medical equipment and
patient monitoring equipment; processing potatoes; and other
business services.  In 2009, the electric utility accounted for
64% of net assets and 130% of net income of the consolidated
company.

Fitch affirms these ratings with a Stable Outlook:

Otter Tail Corporation

  -- Long-term IDR at 'BBB-';
  -- Short-term IDR at 'F3';
  -- Senior Unsecured at 'BBB-';
  -- Preferred Stock at 'BB'.

Otter Tail Power

  -- Long-term IDR at 'BBB';
  -- Short-term IDR at 'F3';
  -- Senior Unsecured at 'BBB+';

Fitch also affirms these OTP pollution control revenue bonds at
'BBB+':

  -- Mercer County (ND) 4.85% pollution control refunding revenue
     bonds due Sept. 1, 2022;

  -- Grant Count (SD) 4.65% pollution control refunding revenue
     bonds due Sept. 1, 2017;

  -- Grant Count (SD) variable rate pollution control refunding
     revenue bonds due Dec. 1, 2012.


OTTER TAIL: Plan Confirmation Hearing Scheduled for August 18
-------------------------------------------------------------
The Hon. Dennis D. O'Brien of the U.S. Bankrutcy Court for the
District of Minnesota will consider confirmation of Otter Tail AG
Enterprises, LLC's Chapter 11 Plan on August 18, 2010, at
10:00 a.m. in Courtroom 2B, United States Courthouse, 316 North
Robert Street, St. Paul, Minnesota.  Objections, if any, are due
seven days prior to the hearing.

Ballots to accept or reject the Plan are due August 13.

According to the amended Disclosure Statement, the Debtor will
terminate all equity interests, of any kind, nature, or
description whatsoever, including any interest accrued on the
claims from and after the petition date, against or in the Debtor
or any of its assets or properties.

                     Treatment of Claims

   Class                                  Proposed Treatment
   -----                                  ------------------
1 - Agstar Secured Claim                  Paid in full.

2 - NMF Secured Claim                     Paid in full.

3 - Caterpiller Financial Services        Claims will be
     Secured Claim                         reaffirmed under
                                           present credit terms.

4 - U.S. National Bank National           Claims will be paid
     Association Claim                     $6,500,000 or 32.5% of
                                           the principal amount.

5 - Otter Tail County Claim               Claimants will receive
                                           4,500,000 membership
                                           units worth about
                                           $2,250,000 or 37.43% of
                                           the principal amount of
                                           claim.

6 - General Unsecured Claims              Holders will receive at
                                           least 32.5% of their
                                           value.

7 - Rejection Claims                      Holders will receive at
                                           least 32.5% of their
                                           value.

8 - Unsecured Convenience Claims          General unsecured
                                           claims with a value of
                                           less than $2,500 will
                                           be paid in full.

The Debtor is represented by:

     Timothy D. Moratzka, Esq.
     Mychal A. Bruggeman, Esq.
     1400 AT&T Tower
     901 Marquette Ave.
     Minneapolis, MN 55402
     Tel: (612) 305-1400

                   About Otter Tail AG Enterprises

Based in Fergus Falls, Minnesota, Otter Tail AG Enterprises, LLC
-- http://www.ottertailethanol.com/-- owns and operates a
nameplate capacity 55 million gallon annual production plant of
undenatured ethanol in Fergus Falls, Minnesota.  The Company
processes approximately 20 million bushels of corn into
approximately 55 million gallons of ethanol each year.  In
addition, the Company sells distillers grains, a principal co-
product of the ethanol production process.

The Company filed for Chapter 11 on Oct. 30, 2009 (Bankr. D. Minn.
Case No. 09-61250).  The petition listed assets of $66.4 million
against $86 million in debt, nearly all secured.
The largest secured creditor is AgStar Financial Services, owed
$40.9 million.


PAPILLON ACQUISITION: Moody's Assigns 'B2' Corp. Family Rating
--------------------------------------------------------------
Moody's Investors Service assigned first time ratings to Papillon
Acquisition Inc., the vehicle that will be used to acquire
inVentiv Health Inc. in its leveraged buyout by Thomas H. Lee
Partners.  Moody's assigned a B2 Corporate Family Rating and a B2
Probability of Default Rating.  Concurrently, Moody's assigned a
Ba3 rating to the senior secured credit facility and a Caa1 to the
unsecured notes that will be used in part to finance the leveraged
buyout.  Moody's currently rates the predecessor company, inVentiv
Health Inc. (old) and we will withdraw these ratings at the close
of the transaction.  The outlook for the ratings is stable.
Moody's also assigned a Speculative Grade Liquidity Rating of SGL-
2, or good liquidity, to the new company.

The B2 Corporate Family Rating reflects the considerable financial
leverage taken on in the leverage buyout transaction and resulting
credit metrics that are reflective of a single-B rating.  The
ratings are also constrained by a number of risks inherent in the
business including: project cancellations due to FDA non-approval
decisions or generic competition of client's products, reduced
client marketing budgets, and pharmaceutical industry
consolidation.

The ratings are supported by the breadth of inVentiv's diverse
service offerings, which over time could result in increased
cross-selling opportunities and stronger client relationships.
The company is a leader in certain of its markets, such as
outsourced sales teams.  inVentiv also has a track record of
generating positive free cash flow, which we expect to continue
even after the considerable increase in interest expense.

These ratings were assigned:

Papillon Acquisition, Inc.

  -- B2 Corporate Family Rating

  -- B2 Probability of Default rating

  -- $75 million Senior Secured Revolver due 2015, Ba3 (LGD3/31%)

  -- $525 million Senior Secured Term Loan due 2016, Ba3
     (LGD3/31%)

  -- $275 million Unsecured Notes due 2018, Caa1 (LGD5, 85%)

  -- SGL-2 Speculative Grade Liquidity Rating

The outlook is stable.

Ratings to be withdrawn at the close of the transaction:

inVentiv Health Inc. (old)

  -- Ba3 Corporate Family Rating

  -- B1 Probability of Default rating

  -- SGL-1 Speculative Grade Liquidity rating

  -- $50 million Senior Secured Revolver due 2013, Ba3 (LGD3/30%)

  -- $330 million Senior Secured Term Loan due 2014, Ba3
     (LGD3/30%)

This is the first time we have rated Papillon.  The last rating
action for inVentiv Health (old) was September 11, 2009, when
Moody's changed the outlook to positive from stable.

inVentiv, headquartered in Somerset, New Jersey, is a leading
provider of value-added, outsourced services to the
pharmaceutical, life sciences and healthcare industries.  inVentiv
provides a broad range of clinical development, communications and
commercialization services that are critical to their clients'
ability to complete the development and successful
commercialization of their pharmaceutical products and medical
devices.  For the twelve months ended March 31, 2010, the company
reported approximately $937 million in net revenues.


PASADENA PLAYHOUSE: Court Approves Plan of Reorganization
---------------------------------------------------------
Pasadena Playhouse, the State Theater of California, said its Plan
of Reorganization was approved July 7 by the United States
Bankruptcy Court in Los Angeles, and emerged from Chapter 11 after
nearly two months.

The Honorable Thomas B. Donovan presided.

"We are deeply grateful for the collective support that has
allowed the Playhouse to expeditiously move through this difficult
and sometimes painful process," said Pasadena Playhouse Executive
Director, Stephen Eich. "On this journey we found a new meaning to
the word collaboration. The indefatigable efforts of our pro bono
legal team Munger, Tolles, and Olson LLC, led by Thomas Walper,
our pro bono financial advisors Alvarez & Marsal, led by Matt
Kvarda, the City of Pasadena, our Board of Directors, and our
small staff have all combined to create a plan to resurrect the
Playhouse from years of unbearable debts. Although we will be
moving slowly in the future to ensure financial responsibility and
stability, we will in fact be back."

Mr. Eich further acknowledged the Playhouse's loyal subscribers
and donors, many of whom have contributed money to ensure the
future of the theatre. He said, "Without these loyal people, we
would not be able to get through this difficult phase of the
theatre's rebirth. Their generosity -- both monetary and in spirit
-- have underscored the tremendous support and need for our
Theatre and have helped us to keep moving forward towards our goal
of restoring the Playhouse to the premier theatrical destination
for both the City of Pasadena and the State of California."

Earlier this year, Pasadena Playhouse received a matching pledge
of $1 million by anonymous donors who read the news about the
Playhouse's decision to explore financial reorganization.  The
donors expressed how they were moved by the Playhouse's desire to
make the comprehensive courageous choices that were necessary to
help the State Theater of California restructure its
administrative operations in an effort to rid itself of long-
standing debt. It was the donors' want and need to help with the
emergence of Pasadena Playhouse and their hope that others will
step forward immediately to support the Playhouse's essential on-
going fundraising efforts to match or exceed their $1 million
gift.

Pasadena Playhouse Artistic Director, Sheldon Epps said, "We
cannot fully enough express our profound gratitude to the precious
anonymous $1 million donors, whose remarkably generous gift -- and
indeed the challenge to match that gift which comes with their
pledge -- will allow our beloved theatre to stand strong and proud
as we move forward. All of this supernal effort from so many who
care deeply about our theatre -- which includes the artists who
work here and our loyal audience and generous donors -- is a great
reminder of how valuable and important this theatre is to so many.
This care and concern for this theatre and our work will allow the
Playhouse to very soon get back to what it does best, which is
filling our beautiful and glorious house with the art of the
theatre."

Future plans, including a Fall 2010 production, will be announced
at a later date.

The Troubled Company Reporter, citing Jacqueline Palank at Dow
Jones Daily Bankruptcy Review, said on May 17, 2010, Pasadena
Playhouse filed its Chapter 11 plan of reorganization, pursuant to
which:

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

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

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

    -- General unsecured creditors won't get anything.

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

                    About Pasadena Playhouse

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

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

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


PCS EDVENTURES!.COM: CEO Maher Gets 4,167 Shares
------------------------------------------------
Anthony A. Maher, CEO of PCS Edventures!.com, on June 30, 2010,
acquired 4,167 company shares at $0.48 a share.  He now directly
holds 2,204,425 company shares.  The shares were issued for
services rendered for the period June 16, 2010, through June 30,
2010.

Robert O. Grover, President, COO, CTO, meanwhile, sold on July 1,
2010, 8,750 company shares for $0.6 a share, bringing his stake
down to 360,021 shares.

                    About PCS Edventures!.com

Boise, Idaho-based PCS Edventures!.com, Inc. (OTC BB: PCSV) --
http://www.edventures.com/-- is engaged in the design,
development and delivery of educational learning labs bundled with
related technologies and programs to the K-12 market worldwide.
The PCS suite of products ranges from hands-on learning labs in
technology-rich topics in Science, Technology, Engineering and
Math (STEM) to services rich in imagination, innovation, and
creativity.  PCS programs operate in over 6,000 sites in all 50
United States as well as in 17 countries internationally.

PCS Edventures!.com's balance sheet at March 31, 2010, showed
$1.3 million in total assets and $432,859 in total liabilities,
for a stockholder's equity of $950,711.

M&K CPAS PLLC expressed substantial doubt about the Company's
ability to continue as a going concern.  The firm noted that the
Company has suffered reoccurring losses and negative cash flow
from operations after auditing the Company's financial results for
fiscal 2010 and 2009.


PENN NATIONAL: Bank Debt Trades at 4% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Penn National
Gaming, Inc., is a borrower traded in the secondary market at
95.61 cents-on-the-dollar during the week ended Friday, July 9,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents a drop of
0.53 percentage points from the previous week, The Journal
relates.  The loan matures on May 26, 2012.  The Company pays 200
basis points above LIBOR to borrow under the facility.  The bank
debt carries Moody's Ba2 rating and Standard & Poor's BB + rating.
The debt is one of the biggest gainers and losers among 204 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

On Oct. 6, 2009, Moody's Investors Service stated that Penn
National's recent statement that it is "looking at" the
Fontainebleau project in Las Vegas currently has no impact on its
ratings or negative outlook.  The last rating action on Penn
National was Aug. 10, 2009, when Moody's assigned a B1 rating to
the company's proposed $250 million senior subordinated notes due
2019 and affirmed its other ratings.

As reported in the Troubled Company Reporter on Aug. 12, 2009,
Moody's Investors Service assigned a B1 rating to Penn National
Gaming, Inc.'s proposed $250 million senior subordinated notes due
2019.  The company's Ba2 Corporate Family Rating, Ba2 Probability
of Default Rating, Ba2 senior secured bank loan rating, and B1
senior subordinated note rating were affirmed.  The rating outlook
is negative.

On Aug. 11, 2009, the TCR reported that Standard & Poor's Ratings
Services assigned its issue-level and recovery ratings to
Wyomissing, Pennsylvania-based Penn National Gaming, Inc.'s
proposed $250 million senior subordinated notes due 2019.  S&P
rated the notes 'BB-' (at the same level as the corporate credit
rating on the company) with a recovery rating of '4', indicating
its expectation of average (30%-50%) recovery for noteholders in
the event of a payment default.  Proceeds from the proposed notes,
along with cash on hand or draws under the revolving credit
facility, will be used to repay a portion of the term loan A bank
facility and to repurchase outstanding 6.875% senior subordinated
notes pursuant to a recently announced cash tender offer.

At the same time, S&P affirmed its issue-level rating on Penn
National's outstanding senior subordinated notes at 'BB-' (the
same as the corporate credit rating).  The recovery rating on
these loans remains at '4', indicating its expectation of average
(30%-50%) recovery for noteholders in the event of a payment
default.  S&P also affirmed its issue-level rating on the
company's senior secured credit facilities at 'BB+' (two notches
higher than the 'BB-' corporate credit rating).  The recovery
rating on these loans remains at '1', indicating its expectation
of very high (90%-100%) recovery for lenders in the event of a
payment default.

Penn National Gaming, Inc., owns and operates nineteen gaming and
racing facilities in fourteen U.S. and one Canadian jurisdiction.
The company generates about $2.4 billion of annual net revenues.


PHILADELPHIA NEWSPAPERS: Pension Fund Loses Bid to Halt Sale
------------------------------------------------------------
Andrew Maykuth at The Philadelphia Inquirer reports that Chief
Bankruptcy Judge Stephen Raslavich denied a request by employee
pension plans to put Philadelphia Newspapers LLC's reorganization
on hold while the pension plans appeal the bankruptcy plan in U.S.
District Court.  The funds oppose the reorganization because the
new owners will be absolved of responsibility for funding pension
shortfalls.

According to the Inquirer, Judge Raslavich said the pension plans,
led by the Teamsters Union fund and including other employee
funds, had failed to make a strong case that they would suffer
irreparable harm if the reorganization were completed.  The judge
said the company faced a more immediate threat of insolvency if
the 17-month-old bankruptcy case were not concluded by September.

As reported by the Troubled Company Reporter on July 6, 2010,
Jacqueline Palank at Dow Jones Daily Bankruptcy Review said the
Teamsters Pension Trust Fund of Philadelphia & Vicinity -- which
joined other pension funds in warning that the sale would result
in a $150 million unfunded pension liability for all pension
plans, argued allowing the restructuring plan to go forward at
this time would be devastating.

"Multiemployer pension plans presently face the threat of death by
a thousand cuts: the swelling ranks of retirees, shrinking asset
values, insolvent contributing employers and, indeed, losses
sustained in bankruptcy proceedings, all serve to jeopardize the
continued viability of the pension fund," the fund's lawyers have
said in court papers, according to Dow Jones.  "Simply put, the
pension fund cannot afford to continue to sustain losses of this
nature."

The fund said the sale unfairly lets the lenders off the hook for
any liability claims that it could bring against the lenders, as
purchasers of Philadelphia Newspapers' assets, under the pension
plan.  Allowing the sale to close would render pointless the
fund's bid to appeal the plan confirmation order in the U.S.
District Court for the Eastern District of Pennsylvania, the fund
said.

                         Bankruptcy Plan

As reported by the Troubled Company Reporter on June 29, 2010,
Philadelphia Newspapers received bankruptcy court approval to
reorganize and sell its newspapers to a group of its lenders for
$139 million.  U.S. Bankruptcy Court Judge Stephen Raslavich
approved the reorganization plan in Philadelphia after overruling
objections from union pension funds.  "This is not the end of the
day," Judge Raslavich said in court, according to Bloomberg News.
"There are still union contracts to be negotiated and the sale to
be consummated."

The confirmation hearing for approval of the Chapter 11 of
Philadelphia Newspapers began on June 24.

As reported by the TCR on April 29, 2010, Philadelphia Newspapers
held an auction where, senior lenders' $139 million offer emerged
as the highest bid.  According to a report by the Philadelphia
Inquirer, the deal includes:

    $39.2 million in debt; and
    $69 million in cash equity, plus
    $30 million, as the estimated value for the purposes of the
        bankruptcy auction, of the Company's real estate

Dow Jones notes the Chapter 11 plan provides a slight recovery for
some lower classes of creditors, despite the fact that the senior
secured lenders, which fall ahead in the line to be paid, are owed
$318 million, far more than their $135 million offer will cover.
Certain holders of pre-bankruptcy mezzanine debt and unsecured
creditors are slated to share in a liquidation trust containing
proceeds from avoidance actions, and the holders of mezzanine
claims will see 2.3% of equity in the new company as well.  The
lenders will be repaid with their choice of equity in the new
company or a cash distribution.

Philadelphia Newspapers' plan also contemplates a $39.3 million
bankruptcy exit loan from a group of lenders led by Bank of Utah.
The money will help pay for the costs accrued since Feb. 22, 2009,
when the Debtors filed for bankruptcy protection, and provide the
company with working capital moving forward.

The reorganized company will be known as Philadelphia Media
Network Inc. and led by publisher and Chief Executive Greg Osberg,
a former president and publisher of Newsweek, and chief operating
chief Bob Hall, who was once publisher of the Inquirer and Daily
News.  Bruce Meier, an executive with restructuring firm Alvarez &
Marsal, who had served as a consultant for Philadelphia
Newspapers, will serve as its chief financial officer.

                  About Philadelphia Newspapers

Philadelphia Newspapers -- http://www.philly.com/-- owns and
operates numerous print and online publications in the
Philadelphia market, including the Philadelphia Inquirer, the
Philadelphia Daily News, several community newspapers, the
region's number one local Web site, philly.com, and a number of
related online products. The Company's flagship publications are
the Inquirer, the third oldest newspaper in the country and the
winner of numerous Pulitzer Prizes and other journalistic
recognitions, and the Daily News.

Philadelphia Newspapers and its debtor-affiliates filed for
Chapter 11 bankruptcy protection on February 22, 2008 (Bankr. E.D.
Pa. Case No. 09-11204).  Mark K. Thomas, Esq., and Paul V.
Possinger, Esq., at Proskauer Rose LLP in Chicago, Illinois; and
Lawrence G. McMichael, Esq., Christie Callahan Comerford, Esq.,
and Anne M. Aaronson, Esq., at Dilworth Paxson LLP, in
Philadelphia, Pennsylvania, serve as bankruptcy counsel.  The
Debtors' financial advisor is Jefferies & Company Inc.  The Garden
City Group, Inc., serves as claims and notice agent.

Ben Logan, Esq., at O'Melveny & Myers LLP in Los Angeles,
California; and Gary Schildhorn, Esq., at Eckert Seamans Cherin &
Mellott, LLC in Philadelphia, represent the Official Committee of
Unsecured Creditors.  Fred S. Hodara, Esq., Abid Qureshi, Esq.,
and Alexis Freeman, Esq., at Akin Gump Strauss Hauer & Feld LLP in
New York, represent the Steering Group of Prepetition Secured
Lenders.

Philadelphia Newspapers listed assets and debts of $100 million to
$500 million in its bankruptcy petition.


POINT BLANK: Creditors Object to Johnson Associates Appointment
---------------------------------------------------------------
BankruptcyData.com reports that Point Blank Solutions' official
committee of unsecured creditors filed with the U.S. Bankruptcy
Court an objection to the Debtors' motion seeking to retain
Johnson Associates as compensation advisor.

In the objection, the committee states that the retention
application "provides yet another glaring example of the inability
of the Debtors' board of directors and management to function
effectively.  The fact that the Debtors anticipate having to
provide expert testimony in depositions and/or hearings regarding
compensation analyses is extremely troubling.  The Debtors should
be exploring ways to minimize any potential problems associated
with the Board composition and the Debtors' management, rather
than seeking to retain yet another set of professionals, thereby
creating yet another unnecessary additional layer of expenses in
these cases, to rectify a problem of their own creation."

Pompano Beach, Fla.-based Point Blank Solutions, Inc.
-- http://www.pointblanksolutionsinc.com/-- designs and produces
body armor systems for the U.S. Military, Government and law
enforcement agencies, well as select international markets.  The
Company is recognized as the largest producer of soft body armor
in the U.S.  The Company maintains facilities in Pompano Beach,
Florida and Jacksboro, Tennessee.

Point Blank Solutions filed for Chapter 11 on April 14, 2010
(Bankr. D. Del. Case No. 10-11255).


PTS CARDINAL: Bank Debt Trades at 11% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which PTS Cardinal
Health is a borrower traded in the secondary market at 89.15
cents-on-the-dollar during the week ended Friday, July 9, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 0.47
percentage points from the previous week, The Journal relates.
The Company pays 225 basis points above LIBOR to borrow under the
facility.  The bank loan matures on April 10, 2014, and carries
Moody's Ba3 rating and Standard & Poor's BB- rating.  The debt is
one of the biggest gainers and losers among 204 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

In April 2007, Cardinal Health completed the sale of its
Pharmaceutical Technologies and Services segment to The Blackstone
Group for approximately $3.3 billion.  PTS provides advanced
technologies and outsourced services for the pharmaceutical,
biotechnology and consumer health industry.  PTS develops,
manufactures and packages pharmaceutical and other products.


RAISSI REAL: Section 341(a) Meeting Scheduled for July 28
---------------------------------------------------------
The U.S. Trustee for Region 17 will convene a meeting of Raissi
Real Estate Development, LLC's creditors on July 28, 2010, at 2:30
p.m.  The meeting will be held at U.S. Federal Building, 280 S 1st
Street #130, San Jose, CA 95113.

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

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

Santa Clara, California-based Raissi Real Estate Development, LLC,
filed for Chapter 11 bankruptcy protection on June 30, 2010
(Bankr. N.D. Calif. Case No. 10-56855).  John Walshe Murray, Esq.,
and Rachel Patience Ragni, Esq., at the Law Offices of Murray and
Murray, assists the Company in its restructuring effort.  The
Company estimated its assets and debts at $10,000,001 to
$50,000,000.


REALOGY CORP: Bank Debt Trades at 17% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Realogy Corp. is a
borrower traded in the secondary market at 83.42 cents-on-the-
dollar during the week ended Friday, July 9, 2010, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents a drop of 0.98 percentage points
from the previous week, The Journal relates.  The Company pays 300
basis points above LIBOR to borrow under the facility.  The bank
loan matures on Sept. 30, 2013, and carries Moody's Caa1 rating
and Standard & Poor's CCC- rating.  The debt is one of the biggest
gainers and losers among 204 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

Realogy Corp. -- http://www.realogy.com/-- a global provider of
real estate and relocation services with a diversified business
model that includes real estate franchising, brokerage, relocation
and title services.  Realogy's world-renowned brands and business
units include Better Homes and Gardens Real Estate, CENTURY 21,
Coldwell Banker, Coldwell Banker Commercial, The Corcoran Group,
ERA, Sotheby's International Realty, NRT LLC, Cartus and Title
Resource Group.  Collectively, Realogy's franchise systems have
approximately 15,000 offices and 270,000 sales associates doing
business in 92 countries around the world.

Headquartered in Parsippany, N.J., Realogy is owned by affiliates
of Apollo Management, L.P., a leading private equity and capital
markets investor.  Realogy fully supports the principles of the
Fair Housing Act.


ROBERT GRIFFIN: Case Summary & 18 Largest Unsecured Creditors
-------------------------------------------------------------
Joint Debtors: Robert Griffin
               Julia Griffin
               1300 Griffin Drive
               Greenwood, AR 72936

Bankruptcy Case No.: 10-73471

Chapter 11 Petition Date: July 6, 2010

Court: United States Bankruptcy Court
       Western District of Arkansas (Fort Smith)

Debtor's Counsel: Derrick Mark Davidson, Esq.
                  3061 N. Market Avenue, Suite 8
                  Fayetteville, AR 72703
                  Tel: (479) 935-4100
                  Fax: (479) 856-6168
                  E-mail: derrick@davidsonbusinessattorney.com

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

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

The petition was signed by the Debtors.

Joint Debtors' List of 18 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Bankcorp South            Guarantor for          $4,423,589
Darren Brewer             Corinthian Court
P.O. Box 47
Forth Smith, AR 72901

Arvest Bank               Guarantor for          $3,517,417
ABO Special Assets Group  Plantation, LLC
P.O. Box 11110
Forth Smith, AR 72917

Arvest Bank               Guarantor for          $2,385,775
ABO Special Assets Group  Plantation, LLC
P.O. Box 11110
Forth Smith, AR 72917

First American Bank (FAB) Guarantor for Trinity  $1,274,893
Tom Cooper                Estate
P.O. Box 5629
Norman, OK 73070

Arvest Bank               Guarantor for Silver    $972,900
ABO Special Assets Group  Leaf East
P.O. Box 11110
Forth Smith, AR 72917

JPMorgan Chase Bank, NA   Guarantor for Fairview  $855,443
Richard Broussard         Const Loan
P.O. Box 25848, OKI-1099
Oklahoma City, OK 73125

First American Bank (FAB) Guarantor for Silver    $852,842
Tom Cooper                Leaf West
P.O. Box 5629
Norman, OK 73070

First American Bank (FAB) Guarantor for Silver    $596,029
Tom Cooper                Leaf West
P.O. Box 5629
Norman, OK 73070

JPMorgan Chase Bank, NA   Guarantor Iron Tree     $434,161
Richard Broussard         Const Loan
P.O. Box 25848, OKI-1099
Oklahoma City, OK 73125

First American Bank (FAB) Guarantor for Gregory   $429,775
Tom Cooper                Estates
P.O. Box 5629
Norman, OK 73070

JPMorgan Chase Bank, NA   Guarantor Oakview       $381,261
Richard Broussard         Const Loan
P.O. Box 25848, OKI-1099
Oklahoma City, OK 73125

First American Bank (FAB) Guarantor for Sabram    $290,789
Tom Cooper                Estates, LLC
P.O. Box 5629
Norman, OK 73070

First American Bank (FAB) Guarantor for O L       $242,794
                          Frisco

First American Bank (FAB) Guarantor for R & K     $178,720
                          Company

First American Bank (FAB) Guarantor for Sabram    $161,486
                          Estates

First American Bank (FAB) Guarantor for J & R     $92,218
                          Development

Exchange National Bank    Guarantor for O L       $50,901
(ENB)                     Development

JPMorgan Chase Bank, NA                           $0.00


ROTHSTEIN ROSENFELDT: Fla. Court to Decide on Who Controls Assets
-----------------------------------------------------------------
Julie Kay at Daily Business Review reports that a bankruptcy judge
is ready to decide who will control millions in Scott Rothstein's
assets.  Ms. Kay says a decision was expected last Friday.

Daily Business Review reports that at a hearing Thursday, federal
prosecutors battled attorneys for bankruptcy trustee Herbert
Stettin over which side would be better suited to distribute funds
to victims.  U.S. District Judge James Cohn in Fort Lauderdale,
Fla., had tough questions for both Assistant U.S. Attorney Evelyn
Sheehan and Sharon Kegerreis, Esq., at Berger Singerman, who
represents Mr. Stettin.

Daily Business Review also reports that Ms. Sheehan said her
office would file a pleading July 30 setting forth its methodology
for determining how victims would be compensated.  Victims
objecting to the calculation or denied funds will be able to
protest before the process is completed, which Judge Cohn wants by
August 30.

The report relates that federal prosecutors have argued previously
that allowing the trustee to administer the funds would
unnecessarily divert money from victims to legal fees.

But Ms. Kegerreis, according to the report, argued, "The
forfeiture system was never intended to unwind a complex business
entity like a law firm."

"In this case, the restitution process would be so unwieldy," she
said.  "It is not going to work. Compared to the forfeiture
process, bankruptcy is the best system for marshalling assets."


ROTHSTEIN ROSENFELDT: Partner Faces $9-Mil. Suit by Ch. 11 Trustee
------------------------------------------------------------------
Amy Sherman at The Miami Herald reports that e-mails by Scott
Rothstein show that his firm was struggling for cash as its owners
were spending lavishly -- and that firm president Stuart
Rosenfeldt was aware of it.  The Miami Herald says the e-mails
were introduced at a July 2 deposition of Mr. Rosenfeldt.  The
Herald says Mr. Rothstein sent a series of scathing e-mails to
lawyers demanding that they earn more.

Berger Singerman has filed a $9 million lawsuit against Mr.
Rosenfeldt seeking to recover his salary, loans and credit card
expenses.

Peter Franceschina at The Florida Sun-Sentinel meanwhile reports
that Mr. Rosenfeldt was paid $500,000 by the firm on the day Mr.
Rothstein fled to Morocco in October 2009.  The Sun-Sentinel
relates that records that were exhibits in Mr. Rosenfeldt's
bankruptcy deposition show the check was dated October 27.

According to the Sun-Sentinel, Mr. Rosenfeldt's defense attorney,
Bruce Lehr, Esq., said Wednesday Mr. Rosenfeldt was told by Mr.
Rothstein that he had to pay taxes on income he derived from being
partners with Mr. Rothstein in various businesses.  Mr. Lehr said
the check was meant to pay those taxes, even though Mr. Rosenfeldt
didn't see any income from the businesses.  Mr. Lehr also said Mr.
Rosenfeldt immediately returned the check.  "It is just one more
example of him being an innocent victim," Mr. Lehr said.

The IRS filed a $10.5 million tax lien for 2008 against Mr.
Rosenfeldt last month.

The Sun-Sentinel relates that during his deposition on Friday, Mr.
Rosenfeldt repeatedly invoked his Fifth Amendment right against
self-incrimination.  Mr. Lehr, the report relates, said the
questioning touched on matters under investigation by federal
prosecutors, and that Mr. Rosenfeldt was invoking the Fifth to
protect his innocence.

                      About Scott Rothstein

Scott Rothstein, co-founder of law firm Rothstein Rosenfeldt Adler
PA, has been suspected of running a $1.2 billion Ponzi scheme.
U.S. authorities claimed in a civil forfeiture lawsuit filed
November 9, 2009, that Mr. Rothstein, the firm's former chief
executive officer, sold investments in non-existent legal
settlements.  Mr. Rothstein pleaded guilty to five counts of
conspiracy and wire fraud on January 27, 2010.

Creditors of Rothstein Rosenfeldt Adler signed a petition sending
the Florida law firm to bankruptcy (Bankr. S.D. Fla. Case No.
09-34791).  The petitioners include Bonnie Barnett, who says she
lost $500,000 in legal settlement investments; Aran Development,
Inc., which said it lost $345,000 in investments; and trade
creditor Universal Legal, identified as a recruitment firm, which
said it is owed $7,800.  The creditors alleged being owed money
invested in lawsuit settlements.

Herbert M. Stettin, the state-court appointed receiver for
Rothstein Rosenfeldt, was officially carried over as the Chapter
11 trustee in the involuntary bankruptcy case.

On June 10, 2010, Mr. Rothstein was sentenced to 50 years in
prison.


ROTHSTEIN ROSENFELDT: AmEx Fighting Bankruptcy Trustee's Claims
---------------------------------------------------------------
Paul Brinkmann at The South Florida Business Journal reports that
American Express, in a court filing, disclosed how it attempted to
mail $80,000 worth of gift cards to Mr. Rothstein, only to have
them intercepted at a UPS station by federal authorities in early
November last fall.

Mr. Rothstein has charged tens of millions in fraudulent purchases
on the American Express card for his former law firm, Rothstein
Rosenfeldt Adler.  His family and law firm partners also used
American Express.  The purchases rack up reward points with
American Express, and Mr. Rothstein had more than 20 million
points.

On Nov. 8 and Nov. 9, Mr. Rothstein requested that American
Express convert 16 million of the points -- worth about $80,000 --
into gift cards of $100 each.  Business Journal reports that
American Express said it "lacked any knowledge of defendant's
criminal scheme" at that point.  "Despite the fact that it was all
over the national business press by then," according to Business
Journal.  The 800 cards were shipped to Fort Lauderdale, via UPS.

Business Journal relates American Express is now claiming that Mr.
Rothstein's personal American Express accounts were $65,594 in
arrears at that time, and so they should be entitled to a return
of the lion's share of those gift cards.

Business Journal says American Express is being sued by the
bankruptcy trustee for $20.7 million, which is the amount of total
charges since 2005 by Mr. Rothstein and firm members. In that
case, the bankruptcy attorneys allege that American Express should
have detected fraud in the RRA accounts and that the credit card
accounts were being paid with dirty money.  American Express has
denied those charges and filed counterclaims attacking the
bankruptcy's standing.  American Express claims RRA still owes it
$395,953.  American Express is represented by Shutts & Bowen in
Miami.

                      About Scott Rothstein

Scott Rothstein, co-founder of law firm Rothstein Rosenfeldt Adler
PA, has been suspected of running a $1.2 billion Ponzi scheme.
U.S. authorities claimed in a civil forfeiture lawsuit filed
November 9, 2009, that Mr. Rothstein, the firm's former chief
executive officer, sold investments in non-existent legal
settlements.  Mr. Rothstein pleaded guilty to five counts of
conspiracy and wire fraud on January 27, 2010.

Creditors of Rothstein Rosenfeldt Adler signed a petition sending
the Florida law firm to bankruptcy (Bankr. S.D. Fla. Case No.
09-34791).  The petitioners include Bonnie Barnett, who says she
lost $500,000 in legal settlement investments; Aran Development,
Inc., which said it lost $345,000 in investments; and trade
creditor Universal Legal, identified as a recruitment firm, which
said it is owed $7,800.  The creditors alleged being owed money
invested in lawsuit settlements.

Herbert M. Stettin, the state-court appointed receiver for
Rothstein Rosenfeldt, was officially carried over as the Chapter
11 trustee in the involuntary bankruptcy case.

On June 10, 2010, Mr. Rothstein was sentenced to 50 years in
prison.


SARATOGA RESOURCES: Posts $5.8 Million Net Loss for Q1 2010
-----------------------------------------------------------
Saratoga Resources, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $5.8 million on $12.7 million of revenue
for the three months ended March 31, 2010, compared with a net
loss of $3.6 million on $8.6 million of revenue for the same
period of 2009.

The Company's balance sheet at March 31, 2010, showed
$172.8 million in assets, $171.9 million of liabilities, and
$863,356 of stockholders equity.

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

               http://researcharchives.com/t/s?6621

                      About Saratoga Resources

Saratoga Resources, Inc. - http://www.saratogaresources.net/- is
an independent exploration and production company with offices in
Houston, Texas, and Covington, Louisiana with 30 full-time
employees, supplemented by field-based contract operations
personnel.  Principal holdings cover 33,625 gross (32,527 net)
acres, mostly held-by-production, located in the state waters
offshore Louisiana.  Saratoga's stock currently trades on the OTC
Bulletin Board under the symbol "SROE".

Saratoga Resources, Inc., and certain operating subsidiaries filed
on March 31, 2009, voluntary Chapter 11 petitions in the U.S.
Bankruptcy Court for the Western District of Louisiana in
Lafayette, Louisiana.  Saratoga is being advised by its legal
counsel, Adams & Reese LLP; its investment banker, Pritchard
Capital Partners LLC; and its financial advisor, Ambrose
Consulting LLC.

The case is In Re Harvest Oil and Gas, LLC (Bankr. W.D. La. Lead
Case No. 09-50397).  Robin B. Cheatham, Esq., at Adams & Reese
LLP, represents the Debtors in their restructuring effort.  The
Debtors listed between $100 million and $500 million each in
assets and debts.

On April 19, 2010, the U.S. Bankruptcy Court entered an order
confirming the Modified Third Amended Plan and, on May 14, 2010,
the Company satisfied all of the conditions set forth in the
Modified Third Amended Plan of Reorganization, the Modified Third
Amended Plan became effective and the Company exited from
bankruptcy.

                          *     *     *

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


SK HAND: Section 341(a) Meeting Scheduled for August 5
------------------------------------------------------
The U.S. Trustee for Region 11 will convene a meeting of SK Hand
Tool Corporation's creditors on August 5, 2010, at 1:30 p.m.  The
meeting will be held at 219 South Dearborn, Office of the U.S.
Trustee, 8th Floor, Room 802, Chicago, IL 60604.

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

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

Chicago, Illinois-based SK Hand Tool Corporation filed for Chapter
11 bankruptcy protection on June 29, 2010 (Bankr. N.D. Ill. Case
No. 10-28882).  Colleen E. McManus, Esq., and Kurt M. Carlson,
Esq., at Much Shelist, assists the Company in its restructuring
effort.  The Company estimated its assets and debts at $10,000,001
to $50,000,000.


SK HAND: U.S. Trustee Appoints Seven Members to Creditors Panel
---------------------------------------------------------------
William T. Neary, the U.S. Trustee for Region 11, appoints seven
members to the Official Committee of Unsecured Creditors in SK
Hand Tool Corporation's Chapter 11 cases.

The Committee members include:

1) AJ Manufacturing
   Attn: Shiv Sitaram
   449 W. Wrightwood Avenue
   Elmhurst, IL 60126

2) Central States
   Attn: Anthony E. Napoli
   9377 W. Higgins Road, 10th Floor
   Rosemont, IL 60018

3) Consolidated Sales Group, LLC
   Attn: Mark Jansson
   P.O. Box 1116
   Elk Grove, CA 95759

4) Cray, Kaiser Ltd.
   Attn: James H. Slager
   1901 S. Meyers Rd., Suite 230
   Oakbrook Terrace, IL 60181

5) McCourt Marketing Group
   Attn: Charles A. McCourt
   1314 Centerview Circle
   Copley, OH 44321

6) S & L Marketing Specialists
   Attn: Fred Schultz
   915 Clifton Avenue
   Clifton, NJ 07013

7) Wright Tool Company
   Attn: Tom Futey
   One Wright Dr.
   Barberton, OH 44203

Chicago, Illinois-based SK Hand Tool Corporation filed for Chapter
11 bankruptcy protection on June 29, 2010 (Bankr. N.D. Ill. Case
No. 10-28882).  Colleen E. McManus, Esq., and Kurt M. Carlson,
Esq., at Much Shelist, assists the Company in its restructuring
effort.  The Company estimated its assets and debts at $10,000,001
to $50,000,000.


SK HAND: Taps Much Shelist as Bankruptcy Counsel
------------------------------------------------
SK Hand Tool Corporation, et al., have asked for authorization
from the U.S. Bankruptcy Court for the Northern District of
Illinois to employ Much Shelist Denenberg Ament & Rubenstein,
P.C., as bankruptcy counsel, effective as of June 29, 2010.

Much Shelist will, among other things:

     a) provide legal advice to the Debtor in the course of its
        continuing operations and orderly liquidation;

     b) prepare motions, responses, and such other legal papers as
        are required and in the Debtor's best interests in this
        case;

     c) appear in Bankruptcy Court to protect the Debtor's
        interests; and

     d) assist the Debtor with the legal ramifications (including,
        for instance, from a corporate law or environmental law
        perspective) of its dispositions of assets.

Much Shelist will be paid based on the hourly rates of its
personnel:

        Kurt M. Carlson, Bankruptcy Dept. Chair & Partner    $395
        Colleen E. McManus, Partner                          $375
        Marty J. Wasserman, Litigation Associate             $255

Kurt M. Carlson, a principal and the Chair of the Creditors'
Rights, Insolvency & Bankruptcy group, of the law firm Much
Shelist Denenberg Ament & Rubenstein, P.C., assures the Court that
the firm is a "disinterested person," as that term is defined in
section 101(14) of the Bankruptcy Code, as modified by section
1107(b) of the Bankruptcy Code.

SK Hand Tool Corporation was founded in Chicago in 1921 as a
manufacturer of hand tools and power tools, which it distributes
through independent dealers. It has manufacturing facilities in
Chicago and Defiance, Ohio, although Defiance is currently not
operating.  In April 2005, SK Hand's new management team created a
new company, MCC Business, Inc., which purchased SK Hand's parent
company, Strafor Facon, Inc. n/k/a Triat Industries, Inc., and the
Company.

SK Hand filed for Chapter 11 bankruptcy protection on June 29,
2010 (Bankr. N.D. Ill. Case No. 10-28882).  The Company estimated
its assets and debts at $10,000,001 to $50,000,000.


SKILLED HEALTHCARE: Moody's Downgrades Corp. Family Rating to 'B2'
------------------------------------------------------------------
Moody's Investors Service lowered and concurrently placed under
review for possible downgrade all of the ratings of Skilled
Healthcare Group, Inc., in response to an exogenous event --
namely, a $671 million verdict rendered against the company by a
jury in Humboldt County, California.  The corporate family and
probability of default ratings were downgraded to B2 under review
for possible downgrade, first lien credit facilities to B1 under
review for possible downgrade, and senior subordinated notes to
Caa1 under review for possible downgrade.

The ratings actions reflect our concerns about any potential
impairments to business fundamentals and the ability of creditors
to accelerate.  Moreover, the review for possible downgrade will
focus on the amount of damages that will be ultimately awarded to
plaintiffs and the resulting impact on the company's operations
and credit profile.  In addition, the review will focus on Skilled
Healthcare's ability to handle a possible bonding requirement and
will consider the likely level of additional liabilities that
could result from the ultimate verdict.

Moody's also downgraded Skilled Healthcare's speculative grade
liquidity rating to SGL-4 from SGL-2 given the magnitude of the
verdict received against the company in this first phase of
deliberations relative to the company's liquidity position.
Moody's has concern that, if an event of default were to occur due
to or related to this verdict, the company could lose orderly
access to its committed $100 million revolving credit facility.
It is our expectation that Skilled Healthcare's cash position is
minimal as the company usually keeps around $3 to $5 million of
cash on hand.

On July 7, 2010 the company announced that a jury in Humboldt
County, California returned a verdict against the company with
initial damages awarded to plaintiffs amounting to $671 million.
Reportedly, the $671 million is composed of $613 million in
statutory damages and $58 million in restitutionary damages.  The
jury has not yet concluded on the punitive damages.  According to
the company's press release, the final judgment is expected to be
announced in the next few weeks.  At the time of the final
judgment, the company will be required to post a bond for 150% of
the final judgment amount.

These rating actions were taken: (Loss Given Default Assessments
are subject to change.)

  -- Corporate family rating, downgraded to B2 from B1 and placed
     under review for possible downgrade;

  -- Probability of default rating, downgraded to B2 from B1 and
     placed under review for possible downgrade;

  -- $360 million Senior Secured First Lien Term Loan, due 2016,
     downgraded to B1 (LGD3, 38%) from Ba3 (LGD3, 37%) and placed
     under review for possible downgrade;

  -- $100 million Senior Secured Revolving Credit Facility, due
     2015, downgraded to B1 (LGD3, 38%) from Ba3 (LGD3, 37%) and
     placed under review for possible downgrade;

  -- $130 million Senior Subordinated Notes, due 2014, downgraded
     to Caa1 (LGD6, 91%) from B3 (LGD6, 90%) and placed under
     review for possible downgrade;

  -- Speculative grade liquidity rating, downgraded to SGL-4 from
     SGL-2.

The last rating action was on April 16, 2010, when Moody's
upgraded the SGL rating to SGL-2 from SGL-3 and affirmed B1
corporate family rating.

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

Headquartered in Foothill Ranch, CA, Skilled Healthcare operates
long-term care facilities and provides a variety of post-acute
care services.  The company operates skilled nursing facilities,
assisted living facilities, hospice and home health locations.
Further, the company provides ancillary services such as physical,
occupational and speech therapy in its facilities and unaffiliated
facilities and is a member of a joint venture providing
institutional pharmacy services in Texas.  Skilled Healthcare
recognized revenues of approximately $761 million for the trailing
twelve month period ended March 31, 2010.


SKILLED HEALTHCARE: S&P Junks Corporate Credit Rating From 'B+'
---------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered all its ratings
on Foothill Ranch, Calif.-based nursing home operator Skilled
Healthcare Group Inc.  S&P lowered the corporate credit rating to
'CCC' from 'B+'.  At the same time, S&P lowered the senior secured
rating to 'CCC+' (one notch higher than the corporate credit
rating) from 'BB-'.  The recovery rating remains '2', indicating
S&P's expectation for substantial (70%-90%) recovery in the event
of a payment default.

At the same time, S&P lowered the rating on Skilled Healthcare's
subordinated debt to 'CC' (two notches below the corporate credit
rating) from 'B-'.  The recovery rating on this debt remains '6',
indicating S&P's expectation for negligible (0%-10%) recovery in
the event of a payment default.

S&P placed all ratings on CreditWatch with developing
implications.  The CreditWatch listing follows the jury verdict
against Skilled Healthcare related to a complaint filed more than
four years ago.

A California jury has returned a verdict against Skilled
Healthcare in the first phase of a case originally filed in 2006.
The case related to a California statute that requires nursing
homes to maintain 3.2 nursing hours per patient per day.  The jury
awarded the plaintiffs $613 million in statutory damages and
$58 million in restitution.  If the jury verdict is upheld in the
final judgment, which is likely in a few weeks, Skilled Healthcare
would be required to post a bond to satisfy a bonding requirement
to defer enforcement of the judgment during a likely appeal
process.  The bonding requirement is typically to post a bond for
150% of the final judgment amount.

"S&P does not believe the company would have the means to post
such a bond as it currently has only $94 million of borrowing
capacity under its $100 million revolving credit facility," said
Standard & Poor's credit analyst David P. Peknay, "with limited
ability to draw on its credit facility due to covenant
limitations." Skilled Healthcare has disclosed that the amount of
the jury verdict exceeds the policy limits of its insurance.

"S&P expects to resolve the CreditWatch listing after the final
judgment is rendered," said Mr. Peknay.  If the jury verdict is
upheld, S&P likely would lower the ratings, considering its belief
that the company might seek bankruptcy protection.  S&P could
raise the rating if the final judgment removes the formidable
financial challenge the company otherwise would face.


SKINNY NUTRITIONAL: Posts $1.0 Million Net Loss for Q1 2010
-----------------------------------------------------------
Skinny Nutritional Corp. filed its quarterly report on Form 10-Q,
reporting a net loss of $1,036,873 on $1,778,718 of revenue for
the three months ended March 31, 2010, compared with a net loss of
$847,827 on $1,125,753 of revenue for the same period of 2009.

The Company's balance sheet at March 31, 2010, showed
$2,424,399 in assets and $2,945,817 of liabilities, for a
stockholders' deficit of $521,418.

As reported in the Troubled Company Reporter on April 6, 2010,
Marcum LLP, in Bala Cynwyd, Pa., 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 losses since inception and has not yet been
successful in establishing profitable operations.

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

               http://researcharchives.com/t/s?6622

Bala Cynwyd, Pa.-based Skinny Nutritional Corp. (OTC BB: SKNY.OB)
- http://www.SkinnyWater.com/- has developed and is marketing a
line of enhanced waters, all branded with the name "Skinny Water"
that are marketed and distributed primarily to primarily health .


SONICWALL INC: Moody's Assigns 'B2' Corporate Family Rating
-----------------------------------------------------------
Moody's Investors Service assigned a B2 corporate family rating to
first time issuer, SonicWALL, Inc., as well as Ba3 ratings to its
new first lien debt facilities.  The new debt, along with equity
from Thoma Bravo, LLC and the Ontario Teachers' Pension Plan and
an unrated second lien debt facility, will be used to finance
taking SonicWALL private.  The ratings outlook is stable.

The B2 ratings reflect the high leverage as a result of the buy-
out, but recognize the company's strong market position in the
unified threat management market, particularly catering security
solutions to small to mid-sized enterprises.  The ratings also
consider the company's large installed base of customers, strong
distribution network and recurring nature of services revenue
associated with the product offering.  Combined with the strong
growth prospects in the UTM sector, these factors provide the
company sufficient wherewithal to service the high debt levels.
The ratings also assume a moderate level of continued acquisitions
to fill in product lines or acquire strategic technology.

SonicWALL has developed a strong market position selling security
appliances for low to medium scale installations and more recently
gained position offering higher end products catering to
enterprise sized customers and installations.  Despite the
company's niche expertise, the ratings are somewhat limited by
SonicWALL's small scale, especially compared to larger competitors
such as Cisco, Juniper and Checkpoint Software Technologies, who
may not necessarily have superior products, but have much larger
marketing budgets and the ability to bundle sales with other
product offerings.

The stable ratings outlook reflects Moody's expectation that the
business will continue its rebound after the 2009 downturn and
will use its cash generating capabilities to make small
acquisitions and modestly reduce leverage over the near to medium
term.

These ratings were assigned:

* Corporate Family Rating, B2
* Probability of Default Rating, B2
* $155 mm Sr. Secured First Lien Term Loan -- Ba3 (LGD 2, 28%)
* $15 mm Sr. Secured Revolver -- Ba3 (LGD 2, 28%)
* Ratings Outlook -- Stable

SonicWALL is a provider of network security products to small and
mid-sized enterprises and generated approximately $209 million in
LTM revenue as of March 2010.  SonicWALL is headquartered in San
Jose, CA.


SOUTHVIEW'S LEGACY: Case Summary & 13 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Southview's Legacy Ltd.
        dba Royalgate Apartments
        dba Timberwood Apartments
        3915 Canyon Bluff Court
        Houston, TX 77059

Bankruptcy Case No.: 10-35741

Chapter 11 Petition Date: July 6, 2010

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

Judge: Marvin Isgur

Debtor's Counsel: Russell Van Beustring, Esq.
                  9525 Katy Fwy, Suite 415
                  Houston, TX 77024
                  Tel: (713) 973-6650
                  Fax: (713) 973-7811
                  E-mail: ecf@beustring.com

Scheduled Assets: $2,746,998

Scheduled Debts: $3,919,729

A list of the Company's 13 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txsb10-35741.pdf

The petition was signed by Elizabeth Baird, president.


SPANISH BROADCASTING: Raised by S&P to 'B-' on Adequate Cash
------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Miami, Fla.-based Spanish Broadcasting System Inc. to
'B-' from 'CCC+', based on continued improvement in the company's
liquidity position.  The rating outlook is stable.

At the same time, S&P raised its issue-level rating on the
company's senior secured credit facilities to 'B-' (at the same
level as the corporate credit rating) from 'CCC+', and left the
recovery rating unchanged at '4', reflecting S&P's expectation of
average (30% to 50%) recovery for secured lenders in the event of
a payment default.

In addition, S&P raised its issue level rating on the company's
series B preferred stock to 'CCC' (two notches below the corporate
credit rating) from 'CCC-'.

"The rating action reflects S&P's expectation that, despite very
high leverage, SBS will have adequate liquidity over the
intermediate term to meet debt maturities, potential swap
settlements, and operating needs until its term loan matures on
June 11, 2012," said Standard & Poor's credit analyst Michael
Altberg.

Cash balances stood at $60.6 million as of March 31, 2010, up from
$53.6 million at the 2009 year-end, due to positive discretionary
cash flow generation.  As of the same date, 2010 debt maturities
(including potential swap liabilities) totaled roughly
$26.5 million.

SBS owns and/or operates 21 radio stations with significant
revenue concentration in three markets--New York, Los Angeles, and
Miami -- which are highly competitive markets for both Hispanic
radio and general media.  Large-market radio stations, which were
affected more severely during the recession, appear to be leading
the industry's recovery.  In addition, the company owns and
operates two TV stations under its MegaTV brand that reach
2 million households in the South Florida market, and 4.5 million
households nationally, including affiliate and local programming
agreements.  The TV segment continued to generate modest EBITDA
losses in the first quarter of 2010.


SPHERIS INC: Creditors Seek to Tap CoMetrics as Financial Advisor
-----------------------------------------------------------------
BankruptcyData.com reports that Spheris's official committee of
unsecured creditors filed with the U.S. Bankruptcy Court a motion
seeking to retain CoMetrics Partners (Contact: Walter A. Jones) as
financial advisor at the following hourly rates: senior director
at $275 to 395 and Walter Jones at 500.

                         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.


SS&C TECHNOLOGIES: Moody's Upgrades Corp. Family Rating to 'B1'
---------------------------------------------------------------
Moody's Investors Service upgraded SS&C Technologies, Inc.'s
corporate family and probability of default ratings to B1 from B2
with a stable ratings outlook, its senior subordinated debt rating
to B3 from Caa1, and its short-term liquidity rating to SGL-1 from
SGL-2.  Concurrently, Moody's also affirmed the Ba3 ratings for
the Company's senior secured credit facilities.

The upgrades reflects SS&C's good operating performance and free
cash flow generation, and a track record of steady deleveraging
since its leveraged buyout in November 2005.  The Company has
historically used its free cash flow to reduce debt and more
recently, SS&C used a portion of $134.8 million in net proceeds it
raised from its April 2010 IPO to retire $71.75 million in
principal amount of senior subordinated notes.  As a result, the
Company's pro forma financial leverage has declined from over 6.0x
in 2005 to about 2.9x (total debt/LTM 1Q 2010 EBITDA, Moody's
adjusted for operating leases and pro forma for the acquisitions
made during the LTM period).  The upgrade also incorporates
Moody's expectations that SS&C's revenue, which declined year-
over-year in 2009, will improve in 2010 on an organic basis as a
result of stabilization in the financial services industry,
particularly in the asset management vertical which is the primary
focus of SS&C.

SS&C's B1 rating reflects its good operating performance despite a
steep recession in the financial services industry, its track
record of good free cash flow generation driven by strong EBITDA
margins of about 40%, its very good liquidity position, and the
Company's moderate leverage.  The rating is also supported by the
Company's history of successfully integrating complementary
acquisitions (29 since 1995) and expanding its free cash flows
through synergies and cross-selling opportunities.  In addition,
the revenue stability provided by recurring revenues from long
term software maintenance and software enabled service contracts
and the Company's high average revenue retention rates, support
the rating.  Conversely, the rating is constrained by SS&C's
modest scale, narrow industry focus, highly competitive operating
environment and the potential for debt-funded acquisitions.

The stable ratings outlook reflects Moody's expectations of modest
organic revenue and EBITDA growth of at least 3%-to-5% (on a
constant currency basis) over the near-term, that the Company will
be able to pursue its acquisition-driven growth strategy while
maintaining financial leverage under 4.5x, and its free cash flow
generation and liquidity will remain very good over the near-term.

These ratings were upgraded:

  -- Corporate Family Rating to B1 from B2

  -- Probability of Default Rating to B1 from B2

  -- $133 million of 11.75% Senior Subordinated Notes to B3 (LGD5,
     85%) from Caa1 (LGD5, 83%)

Speculative Grade Liquidity to SGL-1 from SGL-2

These ratings were affirmed:

* $75 million Senior Secured Revolving Credit Facility at Ba3
  (LGD3, 31%) -- Pt. estimate revision from (LGD2, 28%)

* $191 million Senior Secured Term Loan to Ba3 (LGD3, 31%) -- Pt.
  estimate revision from (LGD2, 28%)

Moody's notes that due to the partial redemption of senior
subordinated notes, first-loss absorption by junior debt is
reduced and as a result, the senior secured bank ratings were not
upgraded commensurate with the upgrade in the corporate family
rating, as per Moody's Loss Given Default Methodology.

Headquartered in Windsor, CT, SS&C is a independent software
vendor that provides a broad portfolio of highly specialized
financial management, reporting, and risk management software to
the global financial services industry.  The Company also provides
fund administration and business process outsourcing services.
The company reported sales of $285 million in the LTM 1Q 2010
period.


STATION CASINOS: Creditors File Objection to Disclosure Statement
-----------------------------------------------------------------
Bankruptcy Law360 reports that Station Casinos Inc.'s unsecured
creditors are claiming that the company failed to provide key
information about its restructuring proposal, including the total
value for an asset sale involving the company's founders and the
extent of liability releases.

The official committee of unsecured creditors, which represents
the interest of investors in about $2.4 billion in unsecured
notes, lodged its objection to the casino company's disclosure
statement on July 8, according to Law360.

                       About Station Casinos

Station Casinos, Inc., is a gaming and entertainment company that
currently owns and operates nine major hotel/casino properties
(one of which is 50% owned) and eight smaller casino properties
(three of which are 50% owned), in the Las Vegas metropolitan
area, as well as manages a casino for a Native American tribe.

The Company owns and operates Red Rock Casino Resort Spa, Palace
Station Hotel & Casino, Boulder Station Hotel & Casino, Santa Fe
Station Hotel & Casino, Wildfire Rancho and Wild Wild West
Gambling Hall & Hotel in Las Vegas, Nevada, Texas Station Gambling
Hall & Hotel and Fiesta Rancho Casino Hotel in North Las Vegas,
Nevada, and Sunset Station Hotel & Casino, Fiesta Henderson Casino
Hotel, Wildfire Boulder, Gold Rush Casino and Lake Mead Casino in
Henderson, Nevada.  Station also owns a 50% interest in Green
Valley Ranch Station Casino, Aliante Station Casino and Hotel,
Barley's Casino & Brewing Company, The Greens and Wildfire Lanes
in Henderson, Nevada and a 6.7% interest in the joint venture that
owns the Palms Casino Resort in Las Vegas, Nevada.  In addition,
the Company manages Thunder Valley Casino near Sacramento,
California on behalf of the United Auburn Indian Community.

Station Casinos Inc., together with its affiliates, filed for
Chapter 11 on July 28, 2009 (Bankr. D. Nev. Case No. 09-52477).
Station Casinos has hired Milbank, Tweed, Hadley & McCloy LLP as
legal counsel in the Chapter 11 case; Brownstein Hyatt Farber
Schreck, LLP, as regulatory counsel; and Lewis and Roca LLP as
local counsel.  The Debtor is also hiring Lazard Freres & Co. LLC
as investment banker and financial advisor.  Kurtzman Carson
Consultants LLC is the claims and noticing agent.

In its bankruptcy petition, Station Casinos said that it had
assets of $5,725,001,325 against debts of $6,482,637,653 as of
June 30, 2009.  About 4,378,929,997 of its liabilities constitute
unsecured or subordinated debt securities.

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


STEPHEN MELLGREN: Case Summary & 14 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Stephen Michael Mellgren
        1237 Overlook Court
        Whitney, TX 76692

Bankruptcy Case No.: 10-60844

Chapter 11 Petition Date: July 6, 2010

Court: United States Bankruptcy Court
       Western District of Texas (Waco)

Judge: Ronald B. King

Debtor's Counsel: Kelly Rogers, Esq.
                  Law Office of Kelly Rogers
                  4372 Spring Valley Drive
                  Dallas, TX 75244
                  Tel: (214) 837-0000
                  Fax: (214) 666-3822
                  E-mail: krogers@cawb.com

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

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

A list of the Debtor's 14 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txwb10-60844.pdf

The petition was signed by the Debtor.


SUNESIS PHARMACEUTICALS: Alta Biopharma Discloses Equity Stake
--------------------------------------------------------------
Alta Biopharma Partners III LP disclosed in a Form 4 filing with
the Securities and Exchange Commission that it acquired shares of
both Common Stock and Series A Preferred Stock of Sunesis
Pharmaceuticals, Inc. on June 30, 2010.

Alta Biopharma may be deemed to directly hold 15,487,876 common
shares.  Alta Biopharma also holds certain other shares through
Alta Embarcadero BioPharma Partners III, LLC and Alta BioPharma
Partners III GmbH & Co. Beteiligungs KG.

Alta Biopharma indirectly holds the Preferred shares through those
two affiliated funds.

Alta BioPharma Management III, LLC, is the general partner of Alta
BioPharma Partners III and the managing limited partner of Alta
BioPharma Partners III GmbH & Co. Beteiligungs KG.  Jean Deleage,
Farah Champsi, Edward Penhoet, and Edward Hurwitz are directors of
ABMIII and managers of Alta Embarcadero BioPharma Partners III,
LLC.

A full-text copy of Alta Biopharma's disclosure is available at no
charge at http://ResearchArchives.com/t/s?6636

A full-text copy of Mr. Hurwitz's disclosure is available at no
charge at http://ResearchArchives.com/t/s?6637

                   About Sunesis Pharmaceuticals

South San Francisco, Calif.-based Sunesis Pharmaceuticals, Inc.
(NASDAQ: SNSS) -- http://www.sunesis.com/-- is a
biopharmaceutical company focused on the development and
commercialization of new oncology therapeutics for the treatment
of hematologic and solid tumor cancers.

The Company's balance sheet as of March 31, 2010, showed
$15,329,511 in assets, $3,541,245 of liabilities, and $11,788,266
of stockholders' equity.

                           *     *     *

As reported in the Troubled Company Reporter on April 6, 2010,
Ernst & Young, LLP, in Palo Alto, Calif., expressed substantial
doubt about the Company's ability to continue as a going concern
after auditing the Company's financial statements for 2009.  The
independent auditors noted that of the Company's recurring losses
from operations.


SUN HEALTHCARE: Bank Debt Trades at 4% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Sun Healthcare
Group, Inc., is a borrower traded in the secondary market at 95.70
cents-on-the-dollar during the week ended Friday, July 9, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 0.50
percentage points from the previous week, The Journal relates.
The Company pays 200 basis points above LIBOR to borrow under the
facility.  The bank loan matures on April 19, 2014, and carries
Moody's Ba2 rating and Standard & Poor's B+ rating.  The debt is
one of the biggest gainers and losers among 204 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Sun Healthcare Group, Inc., -- http://www.sunh.com/-- provides
nursing, rehabilitative and related specialty healthcare services
principally to the senior population in the United States.  Its
core business is providing inpatient services, primarily through
183 skilled nursing centers, 14 assisted and independent living
centers and eight mental health centers.  As of Dec. 31, 2009, the
Company's centers had 23,205 licensed beds located in 25 states,
of which 22,423 were available for occupancy.  The Company's
subsidiary engages in three business segments: inpatient services,
primarily skilled nursing centers; rehabilitation therapy
services, and medical staffing services.


SUNESIS PHARMACEUTICALS: Bay City Discloses 18.96% Stake
--------------------------------------------------------
Bay City Capital LLC, Bay City Capital Management V LLC, Bay City
Capital Fund V, L.P., and Bay City Capital Fund V Co-Investment
Fund, L.P. disclose holding in the aggregate 43,823,521 shares, or
roughly 18.96% of the common stock of Sunesis Pharmaceuticals,
Inc., as of July 1, 2010.

On January 19, 2010 and March 29, 2010, Sunesis and Bay City et
al. and other investors entered into the Third Agreement Regarding
Private Placement of Securities and the Fourth Agreement Regarding
Private Placement of Securities, to amend certain terms of the
Purchase Agreement and the Investor Rights Agreement.  On June 30,
2010, pursuant to the Purchase Agreement, as amended, Fund V and
Co-Investment V purchased 23,824,450 shares of Common Stock, for
an aggregate purchase price of $6,551,724.  Concurrently with the
consummation of the Common Equity Closing, each share of Series A
Preferred Stock purchased by the Purchasers was converted into
shares of Common Stock.

Fund V and Co-Investment V purchased the Securities for investment
purposes with the aim of increasing the value of the investment
and the Company.  Bay City et al. warned that they may, from time
to time, investigate, evaluate, discuss, negotiate or agree to
exercise all or a portion of the Warrants, acquire additional
shares of Common Stock from the Company or third parties or
investigate, evaluate, discuss, negotiate or agree to retain or
sell, exchange or dispose all or a portion of the shares of Common
Stock, Warrants or Common Stock issued upon exercise of the
Warrants or in other acquisitions, in the open market, in
privately negotiated transactions to the Company or third parties
or through distributions to their respective partners, in change
of control transactions or tender offers, or otherwise.

Meanwhile, Dayton Misfeldt, director of Sunesis and partner of Bay
City Capital, filed a Form 4 to disclose the company securities he
indirectly holds.  A full-text copy of the Form 4 filing is
available at no charge at http://ResearchArchives.com/t/s?6626

Bay City also filed a Form 4, a copy of which is available at no
charge at http://ResearchArchives.com/t/s?6627

                   About Sunesis Pharmaceuticals

South San Francisco, Calif.-based Sunesis Pharmaceuticals, Inc.
(NASDAQ: SNSS) -- http://www.sunesis.com/-- is a
biopharmaceutical company focused on the development and
commercialization of new oncology therapeutics for the treatment
of hematologic and solid tumor cancers.

The Company's balance sheet as of March 31, 2010, showed
$15,329,511 in assets, $3,541,245 of liabilities, and $11,788,266
of stockholders' equity.

                           *     *     *

As reported in the Troubled Company Reporter on April 6, 2010,
Ernst & Young, LLP, in Palo Alto, Calif., expressed substantial
doubt about the Company's ability to continue as a going concern
after auditing the Company's financial statements for 2009.  The
independent auditors noted that of the Company's recurring losses
from operations.


SUNESIS PHARMACEUTICALS: CFO Bjerkholt Discloses Equity Stake
-------------------------------------------------------------
Eric Bjerkholt, Sr. VP, CFO & Corp. Secretary of Sunesis
Pharmaceuticals Inc., disclosed he may be deemed to indirectly
hold 338,183 shares of the company's common stock.  The shares are
held in the Bjerkhold/Hahn Family Trust for which Mr. Bjerkholt is
Trustee.

Mr. Bjerkholt also disclosed he may be deemed to indirectly hold
9,994 shares of Series A Preferred Stock, which are also held by
the Trust.  The Preferred Stock automatically converted into
common stock in accordance with the terms of the applicabale
Certificate of Designation of the Company on a 1-for-10 basis and
had no expiration date.

Mr. Bjerkholt directly holds 6,095 company shares.

                   About Sunesis Pharmaceuticals

South San Francisco, Calif.-based Sunesis Pharmaceuticals, Inc.
(NASDAQ: SNSS) -- http://www.sunesis.com/-- is a
biopharmaceutical company focused on the development and
commercialization of new oncology therapeutics for the treatment
of hematologic and solid tumor cancers.

The Company's balance sheet as of March 31, 2010, showed
$15,329,511 in assets, $3,541,245 of liabilities, and $11,788,266
of stockholders' equity.

                           *     *     *

As reported in the Troubled Company Reporter on April 6, 2010,
Ernst & Young, LLP, in Palo Alto, Calif., expressed substantial
doubt about the Company's ability to continue as a going concern
after auditing the Company's financial statements for 2009.  The
independent auditors noted that of the Company's recurring losses
from operations.


SUNESIS PHARMACEUTICALS: GEO Fund Discloses 19% Equity Stake
------------------------------------------------------------
Growth Equity Opportunities Fund, LLC; New Enterprise Associates
12, Limited Partnership, which is the sole member of GEO; NEA
Partners 12, Limited Partnership, which is the general partner of
NEA 12; NEA 12 GP, LLC, which is the general partner of NEA
Partners 12; and Michael James Barrett, Peter J. Barris, Forest
Baskett, Ryan D. Drant, Patrick J. Kerins, Krishna S. Kolluri, C.
Richard Kramlich, Charles M. Linehan, Charles W. Newhall III, Mark
W. Perry, Scott D. Sandell, and Eugene A. Trainor III --
individual managers of NEA 12 GP -- disclosed that they hold
43,814,431 or roughly 19.0% of the common stock of Sunesis
Pharmaceuticals, Inc.

GEO acquired 23,824,451 shares of Sunesis Common Stock from the
Company in the third and final closing of a privately negotiated
transaction among Sunesis, GEO and certain other purchasers on
June 30, 2010 at an aggregate purchase price to GEO of $6,551,724.
GEO's working capital was the source of the funds for the purchase
of the Securities.  No part of the purchase price of the
Securities was represented by funds or other consideration
borrowed or otherwise obtained for the purpose of acquiring,
holding, trading or voting the Securities.

Prior to the Sale, GEO held 999,499 shares of Sunesis Series A
Preferred Stock and warrants to purchase 9,994,990 shares of
Common Stock, which warrants are exercisable within 60 days.  As a
result of the transaction, each share of Series A Preferred
automatically converted to 10 shares of Sunesis Common Stock.  GEO
now holds 33,819,441 shares of Sunesis Common Stock and warrants
to purchase 9,994,990 shares of Sunesis Common Stock, which
warrants are exercisable within 60 days.

GEO acquired the Securities for investment purposes.  Depending on
market conditions, its continuing evaluation of Sunesis' business
and prospects and other factors, GEO et al. may dispose of or
acquire additional Sunesis securities.

Meanwhile, the NEA 12 GP Managers filed separate Form 4s with the
Securities and Exchange Commission reporting that they indirectly
hold securities in the Company:

   Patrick J. Kerins       http://ResearchArchives.com/t/s?6631
   Krishna Kittu Kolluri   http://ResearchArchives.com/t/s?6632
   Ryan D. Drant           http://ResearchArchives.com/t/s?6633
   Forest Baskett          http://ResearchArchives.com/t/s?6634
   Charles W. Newhall III
      et al.               http://ResearchArchives.com/t/s?6635

                   About Sunesis Pharmaceuticals

South San Francisco, Calif.-based Sunesis Pharmaceuticals, Inc.
(NASDAQ: SNSS) -- http://www.sunesis.com/-- is a
biopharmaceutical company focused on the development and
commercialization of new oncology therapeutics for the treatment
of hematologic and solid tumor cancers.

The Company's balance sheet as of March 31, 2010, showed
$15,329,511 in assets, $3,541,245 of liabilities, and $11,788,266
of stockholders' equity.

                           *     *     *

As reported in the Troubled Company Reporter on April 6, 2010,
Ernst & Young, LLP, in Palo Alto, Calif., expressed substantial
doubt about the Company's ability to continue as a going concern
after auditing the Company's financial statements for 2009.  The
independent auditors noted that of the Company's recurring losses
from operations.


SUNESIS PHARMACEUTICALS: R&D Chief Ketchum Gets 337,000 Shares
--------------------------------------------------------------
Steven B. Ketchum, Sr. Vice President-R&D of Sunesis
Pharmaceuticals Inc., disclosed he may be deemed to directly hold
340,535 shares of the company's common stock after separately
acquiring 238,243 and 99,940 shares on June 30, 2010.

Mr. Ketchum also disclosed he may be deemed to directly hold 9,994
shares of Series A Preferred Stock.  He now holds 99,940 shares of
Series A Preferreds.  The Preferreds automatically converted into
common stock in accordance with the terms of the applicabale
Certificate of Designation of the Company on a 1-for-10 basis and
had no expiration date.

                   About Sunesis Pharmaceuticals

South San Francisco, Calif.-based Sunesis Pharmaceuticals, Inc.
(NASDAQ: SNSS) -- http://www.sunesis.com/-- is a
biopharmaceutical company focused on the development and
commercialization of new oncology therapeutics for the treatment
of hematologic and solid tumor cancers.

The Company's balance sheet as of March 31, 2010, showed
$15,329,511 in assets, $3,541,245 of liabilities, and $11,788,266
of stockholders' equity.

                           *     *     *

As reported in the Troubled Company Reporter on April 6, 2010,
Ernst & Young, LLP, in Palo Alto, Calif., expressed substantial
doubt about the Company's ability to continue as a going concern
after auditing the Company's financial statements for 2009.  The
independent auditors noted that of the Company's recurring losses
from operations.


SYNTAX-BRILLIAN: Trust Accuses Preferred Bank of Aiding Fraud
-------------------------------------------------------------
The liquidation trust in Syntax-Brillian Corp.'s bankruptcy case
is seeking to recover damages against Preferred Bank for allegedly
providing financing and other banking services that enabled
company insiders to carry out a multimillion-dollar fraudulent
scheme, according to Bankruptcy Law360.

Based in Tempe, Arizona, Syntax-Brillian Corporation (Nasdaq:BRLC)
-- www.syntaxbrillian.com -- manufactures and markets LCD HDTVs,
digital cameras, and consumer electronics products include
Olevia(TM) brand high-definition widescreen LCD televisions and
Vivitar brand digital still and video cameras.  Syntax-Brillian is
the sole shareholder of California-based Vivitar Corporation.

The company and two of its affiliates -- Syntax-Brillian SPE,
Inc., and Syntax Groups Corp. -- filed for Chapter 11 protection
on July 8, 2008 (Bankr. D. Delaware Lead Case No.08-11409 through
08-11409.  Dennis A. Meloro, Esq., and Victoria Watson Counihan,
Esq., at Greenberg Traurig LLP, represent the Debtors in their
restructuring efforts.  The U.S. Trustee for Region 3 has yet to
appoint creditors to serve on an Official Committee of Unsecured
Creditors.

When the Debtors filed for protection against their creditors,
they listed total assets of $175,714,000 and total debts of
$259,389,000.


TARRAGON CORP: Emerges From Chapter 11 Bankruptcy
-------------------------------------------------
BankruptcyData.com reports that Tarragon's Second Amended and
Restated Joint Plan of Reorganization became effective, and the
Company emerged from Chapter 11 protection.

"In formulating the Plan, the Debtors' goal was to maximize
recovery to creditors by liquidating assets and distributing the
proceeds in accordance with the priorities and requirements of the
Bankruptcy Code, while also preserving a core of investment
properties that will emerge from Chapter 11 as a viable operating
enterprise.  The Debtors had to balance the competing interests of
the various classes of Creditors and to use their best efforts to
formulate a Plan that is fair and feasible. The Plan was developed
after extensive investigation and analysis of the Debtors' current
cash flow, overhead, expenses, and projected cash flow. The
Debtors believe that the Plan will result in the greatest possible
recovery to Creditors," BData relates citing Plan documents.

Based in New York City, Tarragon Corporation (NasdaqGS:TARR) --
http://www.tarragoncorp.com/-- is a leading developer of
multifamily housing for rent and for sale.  Tarragon's operations
are concentrated in the Northeast, Florida, Texas, and Tennessee.
Tarragon and its affiliates filed for Chapter 11 protection on
January 12, 2009 (Bankr. D. N.J. Case No. 09-10555).  The Hon.
Donald H. Steckroth presides over the case.

Michael D. Sirota, Esq., Warren A. Usatine, Esq., and Felice R.
Yudkin, Esq., at Cole Schotz Meisel Forman & Leonard, P.A.
represent the Debtor as bankruptcy counsel.


TC GLOBAL: Board Names Walter Schoenfeld as Director
----------------------------------------------------
The board of directors elected Walter Schoenfeld as a director of
TC Global, Inc., to serve until the next annual meeting of
shareholders and until his successor is duly elected and
qualified.  Mr. Schoenfeld fills the vacancy on the board of
directors created by the retirement of Tom T. O'Keefe, our former
chairman, on June 30, 2010.  As previously disclosed, Mr. O'Keefe
first announced his planned retirement at the annual meeting of
shareholders held on March 26, 2010.

Walter Schoenfeld, is Chairman of Schoenfeld Group, a private
investment company.  Mr. Schoenfeld also currently serves as
Director of Foundation Bank, Bellevue, WA.  He previously served
as Chairman of Vans lnc (NASDAQ) which was sold to VF Corporation.
He has served on multiple public boards, including Reading
Railroad, Sunshine Mining Co., and Anchor Fence.

He was a Vice President of the Seattle Supersonics Basketball Club
and a General Partner in the Seattle Mariners Baseball Club.  He
also serves as a Trustee of the Barbara Sinatra Children's Center
at Eisenhower Hospital, Rancho Mirage, CA. and the Weizmann
Institute of Science in Rehovot, Israel.  Mr. Schoenfeld is a
graduate of the University of Washington.

Effective July 8, 2010, the board of directors elected Scott
Anderson as a director of TC Global, Inc., to serve until the next
annual meeting of shareholders and until his successor is duly
elected and qualified.  Mr. Anderson fills the vacancy on the
board of directors created by amendment of our amended and
restated bylaws, as described below.

Scott Anderson has been a principal of Cedar Grove Partners, LLC,
an investment and advisory concern since 1997, and a principal of
Cedar Grove Investments, LLC, a private seed capital firm since
1998.  From 1986 until 1997, Mr. Anderson was with McCaw
Cellular/AT&T Wireless, most recently as Senior Vice President of
the Acquisitions and Development group.  Before joining McCaw
Cellular in 1986, Mr. Anderson was engaged in private law
practice.  Mr. Anderson currently serves as a director of several
private companies, including mInfo, Inc., CosComm International,
Inc., Globys, Inc., Alcis Health, Inc., Root Wireless, Inc., and
Anvil Corp.  He is also a Director of Kratos Defense and Security
Solutions, Inc. (NASDAQ: KTOS).  Mr. Anderson is a member of the
control group of LCW Wireless, LLC, a wireless operator in Oregon.
He holds a B.A. in History from the University of Washington,
Magna Cum Laude, and a J.D. from the University of Washington Law
School, with highest honors.

                       About Tully's Coffee

Headquartered in Seattle, Washington, TC Global, Inc., dba Tully's
Coffee -- http://www.tullyscoffeeshops.com/-- is a specialty
coffee retailer and wholesaler.  Through company owned, licensed
and franchised specialty retail stores in Washington, Oregon,
California, Arizona, Idaho, Montana, Colorado, Wyoming and Utah,
throughout Asia with Tully's Coffee International, and with its
global alliance partner Tully's Coffee Japan, Tully's premium
coffees are available at 545 branded retail locations globally.
TC Global also has the rights to distribute Tully's coffee through
all wholesale channels internationally, outside of North America,
the Caribbean and Japan.

                           *     *     *

According to the Troubled Company Reporter on July 5, 2010,
TC Global Inc. dba Tully's Coffee filed its annual report on Form
10-K for the fiscal year ended March 28, 2010, reporting
$13.7 million in total assets and $16.3 million in total
liabilities, for a $4.1 million total stockholders' deficit.


TEXAS RANGERS: Canceling July 16 Auction for Assets
---------------------------------------------------
The Seattle Times reports that Texas Rangers withdrew its request
for permission to hold an auction on July 16, 2010, to check
whether there are parties willing to outbid Greenberg-Ryan group's
$575 million offer.

According to the report, the Rangers will seek approval for a sale
process with new terms and conditions.  A person familiar with the
matter said Greenberg-Ryan group could remain the lead bidder at
the auction.

The Texas Rangers has already filed a Plan that provides for the
sale of substantially all of the assets of TRBP -- including the
Texas Rangers Major League Baseball Club -- to Rangers Baseball
Express LLC, an entity controlled by Chuck Greenberg and Nolan
Ryan.  Although the lenders are owed $525 million in total, they
receive only $75 million directly from the team because that's the
limit of the secured debt the team itself guaranteed.

                       About Texas Rangers

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.


TITUS TRANSPORTATION: Proposes to Pay Employee Benefits
-------------------------------------------------------
TruckingInfo, citing report from The Hutchinson News, reports that
Titus Transportation, LP, is seeking to pay out benefits including
health and life insurance, and 401(k) matching program.  The
Company owes $557,300 in accrued wages.

As already reported by the TCR, Titus Transportation, LP, filed
for Chapter 11 on July 2, 2010 (Bankr. E.D. Tex. Case No. 10-
42202).  The petition listed assets of $1,000,001 to $10,000,000
and debts of $1,000,001 to $10,000,000.  Attorneys at Wright
Ginsberg Brusilow P.C., in Dallas, Texas, represents the Debtor in
its Chapter 11 effort.

According to TruckingInfo, the Company owes nearly $2.2 million to
more than 200 businesses, including more than $1 million to six
unsecured creditors.  The company owes just under $500,000 to a
Denton, Texas, couple, James and Mary Browne, the publication
reported.  Another $185,000 is also owed to Blue Cross Blue Shield
of Dallas.

Based in Texas, Titus Transportation -- http://www.titus.ws/--
provides national transportation and logistics services.


TOOLMEN CORP: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Toolmen Corp.
        878 Westinghouse Road
        Georgetown, TX 78626

Bankruptcy Case No.: 10-11878

Chapter 11 Petition Date: July 6,2010

Court: United States Bankruptcy Court
       Western District of Texas (Austin)

Judge: Craig A. Gargotta

Debtor's Counsel: Mark Curtis Taylor, Esq.
                  Hohmann, Taube & Summers, LLP
                  100 Congress Ave, Suite 1800
                  Austin, TX 78701
                  Tel: (512) 472-5997
                  Fax: (512) 472-5248
                  E-mail: markt@hts-law.com

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

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txwb10-11878.pdf

The petition was signed by John Potts, president.


TRACY PRESS: Cuts Publishing Schedule to Cut Costs
--------------------------------------------------
As previously reported by the TCR, Tracy Press, Inc., filed for
Chapter 11 on July 2, 2010 (Bankr. E.D. Calif. Case No. 10-37525).
The Tracy, California-based Company estimated its assets at
$500,001 to $1,000,000 and debts at $1,000,001 to $10,000,000.

Press-Banner reports that Tracy Press filed for bankruptcy in
order to stabilize its financial condition while continuing
operations.

According to the report, the Company has reduced its publishing
schedule to one edition a week to bring expenses in line with
revenues during the current economic recession.

Editor & Publisher reports that the Matthews family of Tracy,
Calif., said their newspapers, online operations and printing
services will remain in operation.

Based in Tracy, Calif., Tracy Press, Inc., is the publisher of the
weekly Tracy Press and, in Santa Cruz County, the Press-Banner.
It also has published the Patterson Irrigator since 2003, but that
paper's own limited liability company -- which includes a print
shop -- has not filed for bankruptcy.

E&P relates that the Tracy Press was a daily until a few years
ago, when declining revenues forced it to cut back on costs and
publication frequency.  In 2009, the Irrigator converted from
twice-weekly to weekly for similar reasons.

While calling her paper "a strong business," according to E&P,
Irrigator Editor and General Manager Amanda Matthews is quoted by
the paper saying, "It's been a tough ride for the Tracy Press for
the past few years as revenues have declined rapidly."


TRAI THIEN: Earns $871 in First Quarter Ended March 31
------------------------------------------------------
Trai Thien USA Inc. (formerly known as Develocap, Inc.) filed its
quarterly report on Form 10-Q, reporting net income of $871 on
$2,913,249 of revenue for the three months ended March 31, 2010,
compared with net income of $35,298 on $1,849,130 of revenue for
the same period of 2009.

The Company's balance sheet at March 31, 2010, showed
$28,242,514 in assets, $16,603,952 of liabilities, and $11,638,562
of stockholders' equity.

The Company has committed and contracted for the construction of
7 vessels in Vietnam with a combined carrying capacity of 49,900
deadweight tons in the aggregate value of approximately
$65.5 million (equivalent to VND1,262,000,000,000), which are
expected to be delivered between 2010 and 2011.  As of March 31,
2010, the Company has available $16,304 cash and cash equivalents
and suffers from negative working capital of $11,045,759, whereas
the Company may not have sufficient working capital to meet with
these capital commitments.  The Company plans to finance the
construction of these 7 newly-built vessels through additional
capital injection from its shareholders or external financing from
banks or a mixed of financing sources.  However, there can be no
assurance that the Company will be able to obtain sufficient funds
to meet with its obligations on a timely basis towards the
delivery of the vessels.

The Company believes the aforementioned 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?6625

Based in Ho Chi Minh City, Vietnam, Trai Thien USA Inc. (formerly
known as Develocap, Inc.) was incorporated under the laws of the
State of Nevada on January 23, 2004.  The Company operates
chartered and owned vessels in the ocean transportation in
Vietnam, through its variable interest entity, Trai Thien Sea
Transport Investment and Development Joint Stock Company ("Trai
Thien"), which is registered as a joint stock company under the
Enterprise Law of the Socialist Republic of Vietnam on June 11,
2007.  Trai Thien primarily charters vessels from the ship-owners
and operates the vessels in the ocean transportation of a broad
range of major and minor bulk cargoes including iron ore, coal,
grain, cement and fertilizer, along Asian shipping routes.


TRENTON LAND: Section 341(a) Meeting Scheduled for July 29
----------------------------------------------------------
The U.S. Trustee for Region 9 will convene a meeting of Trenton
Land Holdings, LLC's creditors on July 29, 2010, at 3:00 p.m.  The
meeting will be held at 211 West Fort Street Building, room 315 E
(not at The Levin Courthouse), Detroit, MI 48226.

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

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

Trenton, Michigan-based Trenton Land Holdings, LLC, filed for
Chapter 11 bankruptcy protection on June 29, 2010 (Bankr. E.D.
Mich. Case No. 10-60990).  Karin F. Avery, Esq., at Silverman &
Morris, 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.


TRIBUNE CO: Bank Debt Trades at 41% Off in Secondary Market
-----------------------------------------------------------
Participations in a syndicated loan under which Tribune Co. is a
borrower traded in the secondary market at 58.89 cents-on-the-
dollar during the week ended Friday, July 9, 2010, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents a drop of 1.86 percentage points
from the previous week, The Journal relates.  The Company pays 300
basis points above LIBOR to borrow under the facility, which
matures on May 17, 2014.  Moody's has withdrawn its rating while
Standard & Poor's does not rate the bank debt.  The debt is one of
the biggest gainers and losers among 204 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austion LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North Americal LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.

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


TRICO MARINE: Former CEO Compofelice Forfeits Securities
--------------------------------------------------------
Joseph S. Compofelice, former chairman and CEO of Trico Marine
Services Inc., disclosed that 75,528 shares of Trico restricted
stock were forfeited upon termination of his employment with the
Company effective May 29, 2010.  He also forfeited employee stock
options, phantom stock, and stock appreciation rights.  A full-
text copy of Mr. Compofelice's disclosure is available at no
charge at http://ResearchArchives.com/t/s?6638

On May 29, 2010, Trico Marine 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 Joseph S.
Compofelice as the Company's Chairman, President and Chief
Executive Officer.

                         About Trico Marine

Woodlands, Texas-based Trico Marine Services is a provider of
support vessels for the offshore oil and natural-gas industry.
At March 31, 2010, the Company had total assets of $1,013,628,000
against total liabilities of $985,940,000.

Trico Marine has failed to make the $8.0 million interest payment
on $202.8 million in aggregate principle amount of its 8.125%
secured convertible debentures due 2013.  On June 17, 2010, the
30-day grace period permitted under the 8.125% Indenture expired,
triggering an Event of Default.

The Troubled Company Reporter on June 16, 2010, said Trico Marine
has signed a revised loan agreement on June 11 requiring the
company to file under Chapter 11 no later than Sept. 8.  The
agreement with affiliates Tennenbaum Capital Partners LLC provides
for converting the existing $25 million revolving credit
commitment into a $25 million term loan commitment.  Nordea Bank
Finland plc, New York Branch, as collateral agent, Obsidian Agency
Services, Inc., as administrative agent, also signed the
agreement.

As reported by the TCR on June 15, 2010, Trico said that it and
Evercore Partners are in discussions with various potential
lenders and some of the Company's existing debtholders regarding
obtaining additional financing in connection with a possible
proceeding under Chapter 11 of the Bankruptcy Code.


TRICO MARINE: Kean Out, Cenkus In as Gen. Counsel & Secretary
-------------------------------------------------------------
Brett A. Cenkus has replaced Suzanne B. Kean as general counsel
and secretary at Trico Marine Services Inc.

Trico Marine Services appointed Sue Kean as Vice President,
General Counsel and Secretary late in April 2010.  According to
the Company's statement announcing her then appointment, Ms. Kean
served as VP, Deputy General Counsel and Chief Compliance Officer
for Exterran Holdings, a global market leader in  full service
natural gas compression and a premier provider of operations,
maintenance, service and equipment for oil and natural gas
production, processing and transportation applications.  Prior to
Exterran, Ms. Kean served as Senior VP & General Counsel for First
Wave Marine, a provider of shipyard related services for offshore
rigs and vessels in the offshore and inland marine industries.
Ms. Kean was a partner in the corporate law group with Griggs &
Harrison, P.C. prior to her time as in-house counsel.

Ms. Kean disclosed in a regulatory filing with the Securities and
Exchange Commission that she forfeited 10,660 shares of phantom
stock upon termination of her employment with the Company
effective June 30, 2010.  She also forfeited 21,492 shares of
stock appreciation rights upon termination of her employment.

Each share of phantom stock represents the right to receive the
fair market value of one share of Trico Marine Services, Inc.
common stock.

Mr. Cenkus disclosed in a separate filing that he directly holds
4,431 Trico Marine shares.  He also directly holds:

     -- options to buy 2,969 Company shares.  The options vest
        ratably over a three-year period from the grant date and
        are exercisable as follows: 33% on March 13, 2010, 33% on
        March 13, 2011 and 34% on March 13, 2012;

     -- 2,969 Stock Appreciation Rights, which vest ratably over a
        three-year period from the grant date and are exercisable
        as follows: 33% on March 13, 2010, 33% on March 13, 2011
        and 34% on March 13, 2012; and

     -- 2,083 Stock Appreciation Rights, which are exercisable
        beginning March 13, 2010.

                         About Trico Marine

Woodlands, Texas-based Trico Marine Services is a provider of
support vessels for the offshore oil and natural-gas industry.
At March 31, 2010, the Company had total assets of $1,013,628,000
against total liabilities of $985,940,000.

Trico Marine has failed to make the $8.0 million interest payment
on $202.8 million in aggregate principle amount of its 8.125%
secured convertible debentures due 2013.  On June 17, 2010, the
30-day grace period permitted under the 8.125% Indenture expired,
triggering an Event of Default.

The Troubled Company Reporter on June 16, 2010, said Trico Marine
has signed a revised loan agreement on June 11 requiring the
company to file under Chapter 11 no later than Sept. 8.  The
agreement with affiliates Tennenbaum Capital Partners LLC provides
for converting the existing $25 million revolving credit
commitment into a $25 million term loan commitment.  Nordea Bank
Finland plc, New York Branch, as collateral agent, Obsidian Agency
Services, Inc., as administrative agent, also signed the
agreement.

As reported by the TCR on June 15, 2010, Trico said that it and
Evercore Partners are in discussions with various potential
lenders and some of the Company's existing debtholders regarding
obtaining additional financing in connection with a possible
proceeding under Chapter 11 of the Bankruptcy Code.


TRUVO USA: Gets Court Okay to Hire Kurtzman Carson as Claims Agent
------------------------------------------------------------------
Truvo LLC, et al., sought and obtained authorization from the Hon.
Arthur J. Gonzalez of the U.S. Bankruptcy Court for the Southern
District of New York to employ Kurtzman Carson Consultants LLC as
notice and claims agent.

KCC will, among other things:

     a. notify potential creditors of the filing of the bankruptcy
        petitions and of the setting of the first meeting of
        creditors;

     b. prepare and serve notices in the Debtors' Chapter 11
        cases;

     c. maintain an official copy of the Debtors' schedules of
        assets and liabilities and statement of financial affairs,
        listing the Debtors' known creditors and the amounts owed
        thereto; and

     d. provide access to the public for examination of copies of
        the proofs of claim or proofs of interest filed in the
        Debtors' Chapter 11 cases without charge during regular
        business hours (if necessary).

KCC will be compensated for its services based on its agreement
with the Debtor.  A copy of the agreement is available for free
at http://bankrupt.com/misc/TRUVO_claimsagentpact.pdf

Albert H. Kass, Vice President of Corporate Restructuring Services
of KCC, assures the Court that the firm is a "disinterested
person," as that term is defined in section 101(14) of the
Bankruptcy Code, as modified by section 1107(b) of the Bankruptcy
Code.

Wilmington, Delaware-based Truvo USA LLC publishes print and
online directories through its operating subsidiaries.  The
operating subsidiaries have not sought protection under Chapter 11
protection or any other insolvency regime.  The Truvo Chapter 11
debtors are owned Truvo Luxembourg S.a.r.l, which is not a debtor
in the Chapter 11 proceedings.

The Company filed for Chapter 11 bankruptcy protection on July 1,
2010 (Bankr. S.D.N.Y. Case No. 10-13513).  Cleary Gottlieb Steen &
Hamilton LLP assists the Company in its restructuring effort.  The
Company listed $500,000,001 to $1 billion in assets and more than
$1 billion in liabilities.

Jenner & Block LLP and Simpson Thacher & Bartlett LLP are the
Company's special counsel.

Houlihan Lokey Howard & Zukin (Europe), Limited, is the Company's
restructuring and financial advisor.


TRUVO USA: Taps Cleary Gottlieb as Bankruptcy Counsel
-----------------------------------------------------
Truvo USA LLC, et al., have sought permission from the U.S.
Bankruptcy Court for the Southern District of New York to employ
Cleary Gottlieb Steen & Hamilton LLP as bankruptcy counsel, nunc
pro tunc to the Petition Date.

Cleary Gottlieb will, among other things:

     a. prepare, on behalf of the Debtors, applications, motions,
        answers, orders, reports, memoranda of law and other
        papers in connection with the administration of the
        Debtors' estates;

     b. represent the Debtors in negotiations with creditors,
        equity holders, and parties in interest, including
        governmental agencies and authorities;

     c. represent the Debtors in negotiations regarding possible
        dispositions of assets;

     d. negotiate and prepare on behalf of the Debtors one or more
        plans of reorganization and all related documents.

Cleary Gottlieb will be paid based on the hourly rates of its
personnel:

        Partners                                 $765-$1,020
        Counsel                                  $675-$835
        Senior Attorney                          $660-$770
        Associates                               $375-$630
        International Lawyers                       $340
        Law Clerks                                  $305
        Summer Associates                           $305
        Paralegals                               $215-$295

Cleary Gottlieb's hourly rates for London office timekeepers
applicable in the Chapter 11 Cases, subject to periodic
adjustments to reflect economic and other conditions, are:

       Partners                                  $975-$1,190
       Counsel                                      $950
       Consultant                                  $1,190
       Senior Attorney                              $890
       Associates                                $460-$830
       European Stagiaire                           $310
       Trainee Solicitor                         $325-$345
       Summer Associate                             $310
       Paralegal                                 $265-$310

Cleary Gottlieb's hourly rates for Brussels office timekeepers
applicable in the Chapter 11 Cases, subject to periodic
adjustments to reflect economic and other conditions, are:

       Partners                                  $810-$1130
       Counsel                                   $750-$920
       Consultant                                   $1120
       Senior Attorney                              $720
       Associates                                $370-$680
       European Stagiaire                           $270
       Summer Associates                            $320
       Paralegals                                $270-$320

Sean A. O'Neal, a member at Cleary Gottlieb, assures the Court
that the firm is a "disinterested person," as that term is defined
in section 101(14) of the Bankruptcy Code, as modified by section
1107(b) of the Bankruptcy Code.

Wilmington, Delaware-based Truvo USA LLC publishes print and
online directories through its operating subsidiaries.  The
operating subsidiaries have not sought protection under Chapter 11
protection or any other insolvency regime.  The Truvo Chapter 11
debtors are owned Truvo Luxembourg S.a.r.l, which is not a debtor
in the Chapter 11 proceedings.

The Company filed for Chapter 11 bankruptcy protection on July 1,
2010 (Bankr. S.D.N.Y. Case No. 10-13513).  The Company listed
$500,000,001 to $1 billion in assets and more than $1 billion in
liabilities.

Jenner & Block LLP and Simpson Thacher & Bartlett LLP are the
Company's special counsel.

Houlihan Lokey Howard & Zukin (Europe), Limited, is the Company's
restructuring and financial advisor.


UNITED AIRLINES: Reports June 2010 Operational Performance
----------------------------------------------------------
United Airlines reported its preliminary consolidated traffic
results for June 2010.  Total consolidated revenue passenger miles
increased in June by 3.5% on an increase of 1.1% in available seat
miles compared with the same period in 2009.  This resulted in a
reported June consolidated passenger load factor of 87.9%, an
increase of 2.0 points compared to 2009.

For June 2010, consolidated passenger revenue per available seat
mile is estimated to have increased 30.5% to 31.5% year over year,
2.7 percentage points of which is due to accounting adjustments
booked in the month. Consolidated PRASM is estimated to have
increased 5.0% to 6.0% for June 2010 compared to June 2008, 2.2
percentage points of which is due to accounting adjustments booked
in the month.

United reported a U.S. Department of Transportation on-time
arrival rate of 79.4% in June.

Average June 2010 mainline fuel price, including gains or losses
on settled fuel hedges and excluding non-cash, mark-to-market fuel
hedge gains and losses, is estimated to be $2.34 per gallon.
Including non-cash, mark-to-market fuel hedge gains and losses,
the estimated fuel price is $2.23 per gallon for the month.

A full-text copy of the company's performance report is available
for free at http://ResearchArchives.com/t/s?663a

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

The company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors before the Committee was
dissolved when the Debtors emerged from bankruptcy.

Judge Eugene R. Wedoff confirmed the Debtors' Second Amended Plan
on Jan. 20, 2006.  The company emerged from bankruptcy protection
on Feb. 1, 2006.  (United Airlines Bankruptcy News; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000)

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


UNITED AIR LINES: Bank Debt Trades at 13% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which United Air Lines,
Inc., is a borrower traded in the secondary market at 86.75 cents-
on-the-dollar during the week ended Friday, July 9, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 0.70
percentage points from the previous week, The Journal relates.
The Company pays 200 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Feb. 13, 2013, and carries
Moody's B3 rating and Standard & Poor's B+ rating.  The debt is
one of the biggest gainers and losers among 204 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA) --
http://www.united.com/-- is the holding company for United Air
Lines, Inc.  United Airlines is the world's second largest air
carrier.  The airline flies to Brazil, Korea and Germany.
The company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors before the Committee was
dissolved when the Debtors emerged from bankruptcy.

Judge Eugene R. Wedoff confirmed the Debtors' Second Amended Plan
on Jan. 20, 2006.  The company emerged from bankruptcy protection
on Feb. 1, 2006.  (United Airlines Bankruptcy News; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000).


US CONCRETE: Teamsters Funds Fight Chapter 11 Plan
--------------------------------------------------
Two union pension funds are fighting U.S. Concrete Inc.'s Chapter
11 plan of reorganization, contending that the company improperly
discharged withdrawal liability to the multiemployer pension
plans, Bankruptcy Law360 reports.

Teamsters Local 641 Pension Fund and Local 734 Pension Fund
contended in the U.S. Bankruptcy Court for the District of
Delaware on Wednesday that U.S. Concrete can't discharge
withdrawal liability, according to Law360.

                        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.


USA BANK OF PORT CHESTER: Closed; New Century Assumes Deposits
--------------------------------------------------------------
USA Bank of Port Chester, N.Y., was closed on Friday, July 9,
2010, by the New York State Banking Department, which appointed
the Federal Deposit Insurance Corporation as receiver.  To protect
the depositors, the FDIC entered into a purchase and assumption
agreement with New Century Bank (doing business as Customer's 1st
Bank) of Phoenixville, Pa., to assume all of the deposits of the
failed bank.

The sole branch of the failed bank will reopen during normal
business hours as a division of Customer's 1st Bank, thereby
keeping the name USA Bank.  Depositors of failed bank will
automatically become depositors of new USA Bank.  Deposits will
continue to be insured by the FDIC, so there is no need for
customers to change their banking relationship in order to retain
their deposit insurance coverage.  Customers of the failed bank
should continue to use their existing branch until they receive
notice from New Century Bank that it has completed systems changes
to allow other New Century Bank branches to process their accounts
as well.

As of March 31, 2010, the failed bank had approximately
$193.3 million in total assets and $189.9 million in total
deposits.  New Century Bank did not pay the FDIC a premium for the
deposits of the failed bank.  In addition to assuming all of the
deposits of the failed bank, New Century Bank agreed to purchase
essentially all of the failed bank's assets.

The FDIC and New Century Bank entered into a loss-share
transaction on $159.1 million of the failed bank's assets.  New
Century Bank will share in the losses on the asset pools covered
under the loss-share agreement.  The loss-share transaction is
projected to maximize returns on the assets covered by keeping
them in the private sector.  The transaction also is expected to
minimize disruptions for loan customers. For more information on
loss share, visit:

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

Customers who have questions about the transaction can call the
FDIC toll-free at 1-800-405-8215.  Interested parties also can
visit the FDIC's Web site at:

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

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $61.7 million.  Compared to other alternatives, New
Century Bank's acquisition was the "least costly" resolution for
the FDIC's DIF.  The failed USA Bank is the 89th FDIC-insured
institution to fail in the nation this year, and the third in New
York.  The last FDIC-insured institution closed in the state was
The Park Avenue Bank, New York, on March 12, 2010.


US FOODSERVICE: Bank Debt Trades at 15% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which U.S. Foodservice,
Inc., is a borrower traded in the secondary market at 85.33 cents-
on-the-dollar during the week ended Friday, July 9, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 0.80
percentage points from the previous week, The Journal relates.
The Company pays 275 basis points above LIBOR to borrow under the
facility.  The bank loan matures on July 3, 2014, and carries
Moody's B2 rating while it is not rated by Standard & Poor's.  The
debt is one of the biggest gainers and losers among 204 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

U.S. Foodservice, Inc. -- http://www.usfoodservice.com/-- is a
foodservice supplier serving some 250,000 customers from more than
70 distribution facilities.  The Company supplies restaurants,
hotels, school, and other foodservice operators with a wide
variety of food products, including canned and dry foods, meats,
frozen foods, and seafood.  It also distributes kitchen equipment
and cleaning supplies among other non-food supplies.  U.S.
Foodservice distributes both national brand products and its own
private labels.  Tracing its roots to 1853, the company is owned
by private equity firms KKR & Co. and Clayton, Dubilier & Rice.


USA CAPITAL: Wells Fargo Accused of Looting $60-Million
-------------------------------------------------------
John G. Edwards at Las Vegas Review-Journal reports that a
bankruptcy judge will decided whether investors and creditors of
USA Capital are entitled to a judgment from Wells Fargo Bank for
damages.  Plaintiffs are seeking to recover $60 million against
the bank.

According to the report, an adversary complaint alleges that Wells
Fargo participated in "massive looting, self-dealing, and related
Ponzi scheme" at USA Capital.   The allegations in the adversary
proceeding stem from the handling of 30 bank accounts that USA
Capital maintained at Wells Fargo, according to court papers.

Las Vegas Review-Journal relates that USA Capital, the biggest
hard-money lender to collapse in Nevada history, solicited money
from individual investors and used the money to make loans secured
by real estate.  The firm was managing $962 million in money and
assets for several thousand investors when it sought bankruptcy
court protection in April 2006.

The report notes that in earlier years, USA Capital owners Thomas
Hantges and Joseph Milanowski diverted investor money from the
Diversified Trust Deed Fund to cover operating losses at a time-
share hotel, real estate ventures and a technology company that
Hantges and Milanowski owned, the lawsuit claimed.7


VENETIAN MACAU: Bank Debt Trades at 3% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Venetian Macau US
Finance Co., LLC, is a borrower traded in the secondary market at
96.66 cents-on-the-dollar during the week ended Friday, July 9,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents a drop of
0.39 percentage points from the previous week, The Journal
relates.  The Company pays 550 basis points above LIBOR to borrow
under the facility.  The bank loan matures on May 25, 2011, and
carries Moody's B3 rating and Standard & Poor's B- rating.

Meanwhile, participations in a syndicated loan under which Las
Vegas Sands Corp. is a borrower traded in the secondary market at
87.81 cents-on-the-dollar during the week ended Friday, July 9,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents a drop of
0.42 percentage points from the previous week, The Journal
relates.  The Company pays 175 basis points above LIBOR to borrow
under the facility.  The bank loan matures on May 1, 2014, and
carries Moody's B3 rating and Standard & Poor's B- rating.

The debt are two of the biggest gainers and losers among 204
widely quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Venetian Macau US Finance Co., LLC (also known as VML US Finance
LLC), and Venetian Macau Limited are wholly owned subsidiaries of
Las Vegas Sands.  Venetian Macau Limited owns the Sands Macau in
the People's Republic of China Special Administrative Region of
Macau and is also developing additional casino hotel resort
properties in Macau.

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


VERTAFORE INC: Moody's Assigns 'B2' Corporate Family Rating
-----------------------------------------------------------
Moody's Investors Service has assigned first-time corporate family
and probability of default ratings of B2 to Vertafore, Inc.
Concurrently, Moody's assigned B1 ratings to the company's
proposed $75 million Senior Secured Revolving Credit Facility due
2015 and $550 million Senior Secured Term Loan due 2016.

On June 10, 2010, Vertafore announced that TPG Capital would
purchase the company from Hellman & Friedman and its co-investor
JMI Equity for a total consideration of $1.4 billion.

The B2 CFR reflects Vertafore's high initial pro-forma leverage of
about 7x (Moody's adjusted debt to EBITDA following the close of
the transaction) and the company's relatively small scale and
concentrated business profile as a niche provider of software
services for the property and casualty insurance industry (e.g.,
enterprise resource planning services for retail agents and
document/workflow management solutions for P&C carriers).

At the same time, the B2 rating is supported by the company's
leading market position (as one of two primary software providers
in the P&C space), its recurring revenue base driven by a
subscription hosting model and high levels of maintenance
renewals, and solid operating performance through economic cycles
in a business requiring minimal capital investment.  Vertafore's
customer base is stable and would incur significant switching
costs to change software providers given the need for agencies and
carriers to maintain an insurance distribution channel that
facilitates the timely flow of information and transactions
without disruption.

The stable outlook reflects our expectation that Vertafore will
continue to maintain its solid market position and generate
consistent levels of operating profits and cash flows.  Moody's
expects the company to reduce leverage to about 6 times (adjusted
debt to EBITDA) over the outlook period of 12 to 18 months.

These first-time ratings/assessments were assigned:

* Corporate Family Rating -- B2

* Probability of Default Rating -- B2

* $550 Million Senior Secured Term Loan due 2016 -- B1 (LGD-3,
  35%)

* $75 Million Senior Secured Revolving Credit Facility due 2015 --
  B1 (LGD3 -- 35%)

Headquartered in Bothell, Washington, Vertafore, Inc., with annual
revenues of about $290 million, is a provider of software
solutions to the P&C insurance industry.


VERTAFORE INC: S&P Assigns Corporate Credit Rating at 'B'
---------------------------------------------------------
Standard & Poor's Rating Services assigned its 'B' corporate
credit rating to Bothell, Wash.-based software and service
provider Vertafore Inc. The rating outlook is stable.

At the same time, S&P assigned an issue-level rating of 'B+' (one
notch higher than the corporate credit rating on the company) to
Vertafore's $625 million first-lien credit facilities, consisting
of a $550 million term loan due 2016 and a $75 million revolving
credit facility due 2015.  S&P also assigned this debt a recovery
rating of '2', indicating S&P's expectations of substantial (70%-
90%) recovery for lenders in the event of a payment default.

Proceeds from the senior secured term loan, a $240 million
senior unsecured loan due 2017 (which S&P does not rate), and
$688 million of common equity provided by private-equity sponsor
TPG Capital will be used to finance the approximately $1.4 billion
purchase of Vertafore from its current private-equity sponsor.

"The rating on Vertafore reflects the company's narrow addressable
market, limited revenue base, and highly leveraged financial
profile," said Standard & Poor's credit analyst Susan Madison.
Its solid niche market position, healthy operating margins, and
high recurring revenue base partially offset those factors.


WASHINGTON MUTUAL: Judge Delays Hearing on Plan, Examiner
---------------------------------------------------------
Bankruptcy Law360 reports that a federal judge on Thursday
postponed for the second time a hearing on Washington Mutual
Inc.'s disclosure statement and its shareholders' motion to
appoint an examiner to review a crucial litigation settlement.

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The Company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over September 25 by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  Wamu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment listed assets of $500,000,000
to $1,000,000,000 with zero debts.

Peter Calamari, Esq., and David Elsberg, Esq., at Quinn Emanuel
Urquhart Oliver & Hedges, LLP, served as legal counsel to WMI with
responsibility for the litigation.  Brian Rosen, Esq., at Weil,
Gotshal & Manges LLP served as legal counsel to WMI with
responsibility for the Chapter 11 case.

Bankruptcy Creditors' Service Inc. publishes Washington Mutual
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Washington Mutual Inc. (http://bankrupt.com/newsstand/or
215/945-7000).


WASTE-TRON INC: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Waste-Tron, Inc.
        Route 2 Box 33-B
        Poca, WV 25159

Bankruptcy Case No.: 10-30577

Chapter 11 Petition Date: July 6, 2010

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

Judge: Ronald G. Pearson

Debtor's Counsel: Marshall C. Spradling, Esq.
                  100 Capitol Street, Suite 703
                  Charleston, WV 25301
                  Tel: (304) 343-2544
                  Fax: (304) 343-2546
                  E-mail: marshallspradling@wvdsl.net

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/wvsb10-30577.pdf

The petition was signed by Paul Saluja, president.


WLH INVESTMENTS: Case Summary & 2 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: WLH Investments, LTD
        6019 Riverside Drive
        Laredo, TX 78044

Bankruptcy Case No.: 10-50167

Chapter 11 Petition Date: July 6, 2010

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

Judge: Wesley W. Steen

Debtor's Counsel: Carl Michael Barto, Esq.
                  Law Office of Carl M. Barto
                  817 Guadalupe St.
                  Laredo, TX 78040
                  Tel: (956) 725-7500
                  Fax: (956) 722-6739
                  E-mail: cmblaw@netscorp.net

Scheduled Assets: $16,130,616

Scheduled Debts: $3,490,481

A list of the Company's 2 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txsb10-50167.pdf

The petition was signed by William L. Hrncir, partner.


WOLF CREEK: Files Schedules of Assets and Liabilities
-----------------------------------------------------
Wolf Creek Properties, LC, filed with the U.S. Bankruptcy Court
for the District of Utah its schedules of assets and liabilities,
disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $81,176,103
  B. Personal Property            $5,320,495
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $18,676,623
  E. Creditors Holding
     Unsecured Priority
     Claims                                            $7,145
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $1,962,233
                                 -----------      -----------
        TOTAL                    $86,496,598      $20,646,001

Eden, Utah-based Wolf Creek Properties, LC, filed for Chapter 11
bankruptcy protection on June 9, 2010 (Bankr. D. Utah Case No. 10-
27816).  Blake D. Miller, Esq., at Miller Guymon, PC, assists the
Company in its restructuring effort.  The Company estimated its
assets and debts at $10,000,001 to $50,000,000.


* Banks Increasingly Extending Terms of Souring Real Estate Loans
-----------------------------------------------------------------
American Bankruptcy Institute reports that banks are giving more
time to business borrowers who cannot repay loans coming due, in
particular, to commercial real-estate lending, where optimistic
borrowers got in over their heads to the tune of tens of billions
of dollars during the real estate boom.


* BOND PRICING -- For Week From July 5 to 9, 2010
-------------------------------------------------
  Company           Coupon     Maturity    Bid Price
  -------           ------     --------    ---------
155 E TROPICANA     8.750%     4/1/2012        5.250
ABITIBI-CONS FIN    7.875%     8/1/2009       12.000
ADVANTA CAP TR      8.990%   12/17/2026       13.125
AHERN RENTALS       9.250%    8/15/2013       36.875
AMBAC INC           9.375%     8/1/2011       48.750
AMER GENL FIN       5.350%    7/15/2010       99.500
AMER GENL FIN       6.250%    7/15/2010       99.750
AT HOME CORP        0.525%   12/28/2018        0.504
BANK NEW ENGLAND    8.750%     4/1/1999       12.250
BANKUNITED FINL     6.370%    5/17/2012        5.500
BLOCKBUSTER INC     9.000%     9/1/2012        8.600
BOWATER INC         6.500%    6/15/2013       30.000
BOWATER INC         9.500%   10/15/2012       31.500
BRODER BROS CO     11.250%   10/15/2010       88.000
CAPMARK FINL GRP    5.875%    5/10/2012       30.000
CHENIERE ENERGY     2.250%     8/1/2012       52.000
COLLINS & AIKMAN   10.750%   12/31/2011        0.010
COLONIAL BANK       6.375%    12/1/2015        0.200
COUNTRYWIDE FINL    5.400%    7/15/2010       99.900
EDDIE BAUER HLDG    5.250%     4/1/2014        5.000
ELEC DATA SYSTEM    3.875%    7/15/2023       89.000
EVERGREEN SOLAR     4.000%    7/15/2013       28.500
FAIRPOINT COMMUN   13.125%     4/1/2018       16.125
FAIRPOINT COMMUN   13.125%     4/2/2018        8.813
FEDDERS NORTH AM    9.875%     3/1/2014        0.877
FINLAY FINE JWLY    8.375%     6/1/2012        1.000
GASCO ENERGY INC    5.500%    10/5/2011       59.750
GENERAL MOTORS      7.125%    7/15/2013       28.500
GENERAL MOTORS      7.700%    4/15/2016       27.000
GENERAL MOTORS      9.450%    11/1/2011       28.500
GMAC LLC            8.200%    7/15/2010       99.875
HAWAIIAN TELCOM     9.750%     5/1/2013        1.875
HAWAIIAN TELCOM    12.500%     5/1/2015        1.400
IDLEAIRE TECH CP   13.000%   12/15/2012        1.000
INDALEX HOLD       11.500%     2/1/2014        2.800
INTL LEASE FIN      5.400%    8/15/2010       96.650
KEYSTONE AUTO OP    9.750%    11/1/2013       40.500
LANDRY'S RESTAUR    9.500%   12/15/2014       84.800
LEHMAN BROS HLDG    0.450%   12/27/2013       20.000
LEHMAN BROS HLDG    1.250%    6/13/2012       19.050
LEHMAN BROS HLDG    1.500%    3/23/2012       20.000
LEHMAN BROS HLDG    4.500%     8/3/2011       18.680
LEHMAN BROS HLDG    4.700%     3/6/2013       18.050
LEHMAN BROS HLDG    4.800%    2/27/2013       20.000
LEHMAN BROS HLDG    4.800%    3/13/2014       17.000
LEHMAN BROS HLDG    5.000%    1/14/2011       20.000
LEHMAN BROS HLDG    5.000%    1/22/2013       18.710
LEHMAN BROS HLDG    5.000%    2/11/2013       17.000
LEHMAN BROS HLDG    5.000%    3/27/2013       18.050
LEHMAN BROS HLDG    5.000%     8/3/2014       18.050
LEHMAN BROS HLDG    5.000%     8/5/2015       18.220
LEHMAN BROS HLDG    5.100%    1/28/2013       17.550
LEHMAN BROS HLDG    5.150%     2/4/2015       17.500
LEHMAN BROS HLDG    5.250%     2/6/2012       20.250
LEHMAN BROS HLDG    5.250%    1/30/2014       18.760
LEHMAN BROS HLDG    5.250%    2/11/2015       18.100
LEHMAN BROS HLDG    5.350%    2/25/2018       18.220
LEHMAN BROS HLDG    5.500%     4/4/2016       20.250
LEHMAN BROS HLDG    5.500%     2/4/2018       18.220
LEHMAN BROS HLDG    5.500%    2/19/2018       18.220
LEHMAN BROS HLDG    5.550%    2/11/2018       18.050
LEHMAN BROS HLDG    5.600%    1/22/2018       18.220
LEHMAN BROS HLDG    5.625%    1/24/2013       20.625
LEHMAN BROS HLDG    5.700%    1/28/2018       18.220
LEHMAN BROS HLDG    5.750%    4/25/2011       20.000
LEHMAN BROS HLDG    5.750%    7/18/2011       19.170
LEHMAN BROS HLDG    5.750%    5/17/2013       19.095
LEHMAN BROS HLDG    5.875%   11/15/2017       19.250
LEHMAN BROS HLDG    6.000%     4/1/2011       21.000
LEHMAN BROS HLDG    6.000%    7/19/2012       20.375
LEHMAN BROS HLDG    6.000%    6/26/2015       16.600
LEHMAN BROS HLDG    6.000%   12/18/2015       18.220
LEHMAN BROS HLDG    6.000%    2/12/2018       18.250
LEHMAN BROS HLDG    6.000%    1/22/2020       18.250
LEHMAN BROS HLDG    6.000%    2/12/2020       18.100
LEHMAN BROS HLDG    6.200%    9/26/2014       20.250
LEHMAN BROS HLDG    6.250%     2/5/2021       17.500
LEHMAN BROS HLDG    6.500%     3/6/2023       17.000
LEHMAN BROS HLDG    6.625%    1/18/2012       19.250
LEHMAN BROS HLDG    6.875%     5/2/2018       20.750
LEHMAN BROS HLDG    6.900%     9/1/2032       17.025
LEHMAN BROS HLDG    7.000%    4/16/2019       18.100
LEHMAN BROS HLDG    7.100%    3/25/2038       17.900
LEHMAN BROS HLDG    7.500%    5/11/2038        0.100
LEHMAN BROS HLDG    7.730%   10/15/2023       19.800
LEHMAN BROS HLDG    7.875%    11/1/2009       19.250
LEHMAN BROS HLDG    8.000%     3/5/2022       17.500
LEHMAN BROS HLDG    8.000%    3/17/2023       19.500
LEHMAN BROS HLDG    8.050%    1/15/2019       18.760
LEHMAN BROS HLDG    8.400%    2/22/2023       17.950
LEHMAN BROS HLDG    8.500%     8/1/2015       19.250
LEHMAN BROS HLDG    8.500%    6/15/2022       18.850
LEHMAN BROS HLDG    8.750%   12/21/2021       17.930
LEHMAN BROS HLDG    8.750%     2/6/2023       17.050
LEHMAN BROS HLDG    8.800%     3/1/2015       19.010
LEHMAN BROS HLDG    8.920%    2/16/2017       16.000
LEHMAN BROS HLDG    9.500%   12/28/2022       19.000
LEHMAN BROS HLDG    9.500%    1/30/2023       18.250
LEHMAN BROS HLDG    9.500%    2/27/2023       17.500
LEHMAN BROS HLDG   10.375%    5/24/2024       18.250
LEHMAN BROS HLDG   11.000%    6/22/2022       17.760
LEHMAN BROS HLDG   11.000%    3/17/2028       18.500
LEINER HEALTH      11.000%     6/1/2012        8.750
LEVEL 3 COMM INC    2.875%    7/15/2010       98.750
MAGNA ENTERTAINM    7.250%   12/15/2009        9.000
MAGNA ENTERTAINM    8.550%    6/15/2010       15.250
MERRILL LYNCH       3.350%     3/9/2011       99.375
METALDYNE CORP     11.000%    6/15/2012        1.600
NEWPAGE CORP       10.000%     5/1/2012       55.000
NEWPAGE CORP       12.000%     5/1/2013       29.290
NORTH ATL TRADNG    9.250%     3/1/2012       52.000
PALM HARBOR         3.250%    5/15/2024       73.500
POPE & TALBOT       8.375%     6/1/2013        0.500
RASER TECH INC      8.000%     4/1/2013       36.688
SPHERIS INC        11.000%   12/15/2012       27.500
STATION CASINOS     6.000%     4/1/2012        6.000
STATION CASINOS     7.750%    8/15/2016        6.000
STX-CALL07/10       5.750%     3/1/2012       97.000
THORNBURG MTG       8.000%    5/15/2013        2.750
TIMES MIRROR CO     7.250%     3/1/2013       27.000
TOUSA INC           7.500%    1/15/2015        2.000
TOUSA INC          10.375%     7/1/2012        3.000
TRANS-LUX CORP      8.250%     3/1/2012        7.673
TRIBUNE CO          5.250%    8/15/2015       26.000
TRICO MARINE        3.000%    1/15/2027       10.200
TRICO MARINE SER    8.125%     2/1/2013       49.750
TRUMP ENTERTNMNT    8.500%     6/1/2015        0.250
VERASUN ENERGY      9.375%     6/1/2017        6.625
VERENIUM CORP       5.500%     4/1/2027       33.000
VIRGIN RIVER CAS    9.000%    1/15/2012       45.500
WASH MUT BANK NV    5.950%    5/20/2013        0.340
WASH MUT BANK NV    6.750%    5/20/2036        0.500
WCI COMMUNITIES     7.875%    10/1/2013        0.700
WCI COMMUNITIES     9.125%     5/1/2012        1.000
WDAC SUBSIDIARY     8.375%    12/1/2014        3.493
WERNER HOLDINGS    10.000%   11/15/2007        7.777
YELLOW CORP         5.000%     8/8/2023       85.000



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Howard
C. Tolentino, Joseph Medel C. Martirez, Denise Marie Varquez,
Philline Reluya, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2010.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


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