TCR_Public/100713.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Tuesday, July 13, 2010, Vol. 14, No. 192

                            Headlines


480 HUMBOLDT: Voluntary Chapter 11 Case Summary
ABITIBIBOWATER INC: Amends Terms of APS Hiring to Address Concerns
ABITIBIBOWATER INC: Seeks Nod of 10th Consent to DIP Facility
ABITIBIBOWATER INC: Wins Nod of Lufkin Mill Bidding Procedures
ACCO BRANDS: S&P Gives Stable Outlook, Affirms 'B+' Rating

AES EASTERN: S&P Cuts Rating to 'BB' on Declining Electric Prices
ALEXIS BOBILA: Case Summary & 20 Largest Unsecured Creditors
ALMATIS BV: Asks for August 27 Extension for Schedules
ALMATIS BV: Considers New Refinancing Proposal From DIC
ALMATIS BV: Court Refuses to Seal Junior Lenders' Plan Objections

ARROW AIR: Wants to Extend Aircraft Lease Period
ARROW AIR: Wants to Reject Certain Executory Contracts & Leases
ARVINMERITOR INC: Moody's Raises Corporate Family Rating to 'B3'
ASARCO LLC: Globeville Class Suit Ended With $440,000 Payout
AUGUST BLASS: Case Summary & 4 Largest Unsecured Creditors

AVIS BUDGET: Prepares Offer to Top Hertz's $1.2-Bil. Bid for DTAG
BANKRATE INC: S&P Assigns Corporate Credit Rating at 'B'
BARNSLEY SQUARE: Voluntary Chapter 11 Case Summary
BLACK BULL: Reorganization Case Converted to Ch. 7 Liquidation
BOESER INC: Can Access Lenders' Cash Collateral Until August 31

BOESER INC: Plan Provides Payment of Unsecured Claims in 60 Months
BRIDGEVIEW AEROSOL: Has Until July 30 to Propose Chapter 11 Plan
BROWN JORDAN: Moody's Assigns 'B3' Rating on $65 Mil. Loan
CALYPTE BIOMEDICAL: Inks Restructuring Agreement With Marr Tech
CFRI/GREENLAW DYER: Case Summary & 20 Largest Unsecured Creditors

CHAD ANGELL: Voluntary Chapter 11 Case Summary
CHARMING SHOPPES: S&P Gives Positive Outlook, Affirms 'B-' Rating
COTT CORP: S&P Affirms Long-Term Corporate Credit Rating at 'B'
CHEMTURA CANADA: To Follow Parent in Chapter 11, CCAA Protection
CHEMTURA CORP: Revised Plan Offers 100% Recovery for All Creditors

CHRISTOPHER HALTER: Case Summary & 15 Largest Unsecured Creditors
CHRISTOPHER SCINTO: Case Summary & 10 Largest Unsecured Creditors
CHRISTOPHER WEIK: Case Summary & 7 Largest Unsecured Creditors
CHUNYI AN: Case Summary & 16 Largest Unsecured Creditors
CITIGROUP INC: NY Court Allows Bondholders' Suit Over CDOs

CLIFTON STAR: Posts C$7.1 Million Net Loss in Q3 Ended March 31
CREEKHILL REALTY: Case Summary & 5 Largest Unsecured Creditors
CROWDGATHER INC: Recurring Losses Cue Going Concern Doubt
DAVID JENKINS: Voluntary Chapter 11 Case Summary
DEAN FOODS: Moody's Rates Amended Senior Bank Facilities at 'Ba3'

DELPHI CORP: Affinia, et al., Seek Dismissal of Avoidance Suits
DELPHI CORP: Beijing West Completes Purchase of Suspension Biz.
DELPHI CORP: DPH Wants Plan Injunction Enforced Against FKMT
DELPHI CORP: Obama to Name PBGC Director Amidst Pension Issues
DELTA PETROLEUM: New CEO Lakey Discloses Equity Stake

DENNIS RAINS: Case Summary & 19 Largest Unsecured Creditors
DOLLAR THRIFTY: Avis Prepares Offer to Top Hertz's $1.2-Bil. Bid
DOMTAR CORP: S&P Raises Corporate Credit Rating From 'BB+'
DONALD MILLARD: Case Summary & 20 Largest Unsecured Creditors
DORAL ENERGY: Posts $10.1 Million Net Loss in Q3 Ended April 30

DOUGLAS DYNAMICS: Moody's Cuts Rating on $83 Mil. Loan to 'B2'
DOUGLAS KEIFFER: Case Summary & 4 Largest Unsecured Creditors
ELITE PHARMA: Demetrius & Company Raises Going Concern Doubt
ENVIRONMENTAL POWER: Receiver Tapped for Huckabay Ridge Facility
EVERGREEN TANK: S&P Revises Outlook on 'B' Rating to Negative

FLYING J: Emerges From Chapter 11 Bankruptcy
EMPIRE RESORTS: Mowak to End Exclusive Talks to Build Casino
FANNIE MAE: FHFA Subpoenas Issuers of Mortgage Securities
FANNIE MAE: Regulator Proposes Rule on Conservatorship
FANNIE MAE: Goldman Sachs Sued by Liberty on Fannie Mae Offering

FREDDIE MAC: Regulator Proposes Rule on Conservatorship
FREDDIE MAC: FHFA Subpoenas Issuers of Mortgage Securities
FX REAL ESTATE: Inks Subscription Pacts With Directors, Key Owners
GENCORP INC: Posts $13.5 Million Net Income for May 31 Quarter
GARLOCK SEALING: Presents Protocol for Sec. 503(b)(9) Claims

GARLOCK SEALING: Proposes to Honor Obligations to Sales Agents
GARLOCK SEALING: Receives Approval to Pay Temporary Employees
GENERAL GROWTH: Has Deal for New Loan From Barclays
GENERAL MOTORS: Said to Decide Against Putting Up Own Credit Unit
GHOST TOWN: Awaits Exit Plan Approval; Won't Open for 2010 Season

GLACIER STONE: Case Summary & 20 Largest Unsecured Creditors
GLOBAL ENERGY: Plan Contemplates Sale of Property to Pay Claims
GRAND DEVELOPMENT: Case Summary & 4 Largest Unsecured Creditors
LAKE COUNTRY GRAPEVINE: Case Summary & Creditors List
GREAT CANADIAN: S&P Raises Corporate Credit Rating to 'BB+'s

HERTZ CORP: Avis Prepares Offer to Top $1.2-Bil. Bid for DTAG
HOLLYWOOD HILLS: Case Summary & 15 Largest Unsecured Creditors
IMPLANT SCIENCES: Names Roger Deschenes as Chief Financial Officer
IMPLANT SCIENCES: Resolves Evans Analytical Group Litigation
INFOLOGIX INC: Hercules Reports 66.4% Equity Stake

INTERGRAPH CORPORATION: Hexagon Deal Won't Affect Moody's Rating
INTERTAPE POLYMER: S&P Hikes Outlook on 'CCC+' Rating to Positive
ISTAR FINANCIAL: S&P Cuts Counterparty Credit Rating to 'CCC'
IZZUDDIN AHMED: Case Summary & 20 Largest Unsecured Creditors
JDG INVESTMENTS: Case Summary & 11 Largest Unsecured Creditors

KENNETH STARR: Receiver Sues Martin Scorsese in NY State Court
KIEBLER RECREATION: Can Access Lenders' Cash Until August 24
LEHIGH VALLEY: Case Summary & 11 Largest Unsecured Creditors
LEMAN ALIOU: Case Summary & 20 Largest Unsecured Creditors
LENNY DYKSTRA: Bankruptcy Trustee Seeks Settlement Approval

LESARRA ATTACHED: to Pay Creditors from Sale of Condominium Units
LESLIE CONTROLS: CIRCOR Unit Files for Chapter 11 with Plan
LINDA DIGIANDOMENICO: Case Summary & 12 Largest Unsec Creditors
LIONS GATE: Reaches Impasse with Icahn to Explore Merger Options
LOREAL PROPERTY: Case Summary & 2 Largest Unsecured Creditors

MARVIN HOLLANDER: Case Summary & 20 Largest Unsecured Creditors
MEGOLA INC: Incurs $137,150 Net Loss in Q3 Ended April 30
METRO-GOLDWYN-MAYER: Said to Seek New Debt Waiver Amid Talks
MICHAEL SPILLANE: Case Summary & 11 Largest Unsecured Creditors
MOONLIGHT BASIN: Has Until December 1 to Propose Chapter 11 Plan

MOUNT SINAI: Moody's Upgrades Long-Term Ratings to 'Ba1'
MOVIE GALLERY: Canada Stores to Close by July 31
MOVIE GALLERY: Travelers Wants to Enforce Security Pacts
MULTIPLAN INC: BC Partners Deal Won't Affect Moody's 'B2' Rating
NEW DAY ATLANTA: Voluntary Chapter 11 Case Summary

NEW ORIENTAL ENERGY: Receives Notice From NASDAQ
NEWPAGE CORP: Board Accepts Resignation of Sr. VP Michael Marziale
NEXCEN BRANDS: ISS Recommends Vote "FOR" Proposed Asset Sale
NOVELIS INC: S&P Hikes Outlook to Positive; 'B+' Rating Affirmed
ORIENTAL TRADING: Explores Restructuring Options

ORIENTAL TRADING: Moody's Downgrades Default Rating to 'Ca/LD'
ORLEANS HOMEBUILDERS: Sued by Landscaping Firm for Unpaid Fees
PACIFIC LIFESTYLE: Unsecured Creditors to Recover 40% of Claims
PASADENA PLAYHOUSE: Has Emerged From Chapter 11, Says LA Times
PATRICIA DAMION: Case Summary & 4 Largest Unsecured Creditors

PAVEL PALY: Case Summary & 18 Largest Unsecured Creditors
PHEASANT RUN: Plan Confirmation Hearing Set for July 26
PNCH ASSOCIATES: Voluntary Chapter 11 Case Summary
POINT BLANK: Explores Sale, Other Alternatives
RCLC INC: CRO Joel Getzler to Provide Restructuring Services

RESCOM PROPERTIES: Voluntary Chapter 11 Case Summary
RICHARD MILLER, JR: Case Summary & 15 Largest Unsecured Creditors
RICHARD STELT: Case Summary & 20 Largest Unsecured Creditors
RIGGING & WELDING: Can Access Secured Lenders' Cash Collateral
RIVIERA HOLDINGS: Files for Chapter 11 Bankruptcy Reorganization

RUTH DELGADO: Case Summary & 20 Largest Unsecured Creditors
SAINT VINCENTS: Metropolitan Jewish Offers $17-Mil. for Unit
SANTA CLARA: Plan Outline Hearing Continued Until July 27
SELVAGGIO ENTERPRISES: Voluntary Chapter 11 Case Summary
SG RESOURCES: Moody's Affirms 'B1' Corporate Family Rating

SIGNCRAFT CORPORATION: Case Summary & 20 Largest Unsec Creditors
SILGAN HOLDINGS: Loan Upsizing Cues S&P to Changes Loan Ratings
SINOBIOMED INC: Anchie Kuo Resigns as President and CEO
SK HAND: Court Extends Filing of Schedules Until August 3
SK HAND: Gets Court's Interim Okay to Obtain DIP Financing

SK HAND: Asks for Court Okay to Sell Certain Assets
SKILLED HEALTHCARE: Rebounds After Bankruptcy Concern Abates
SNP BOAT: Can Sell Sixty Five Vessel to Brian Harvey for $2.75MM
SONIA HARRIS: Case Summary & 12 Largest Unsecured Creditors
SONICWALL INC: S&P Assigns Corporate Credit Rating at 'B'

STATION CASINOS: Creditors Committee Says Plan Unconfirmable
STATION CASINOS: Files Liquidation Analysis & Fin'l Projections
STATION CASINOS: Various Parties Object to Chapter 11 Plan
TEXAS RANGERS: May Negotiate Sale Agreement with New Bidder
TEXAS RANGERS: Dallas Mavericks' Owner Mark Cuban Eyes Bid

TOP SHELF: Case Summary & 8 Largest Unsecured Creditors
TRANS-LUX CORPORATION: Receives NYSE Amex Notice of Non-Compliance
TRAVEL SPAN: Case Summary & 20 Largest Unsecured Creditors
TRENTON LAND: Court Extends Filing of Schedules Until July 26
TRONOX INC: Anadarko & Kerr-McGee Want Decision on Contract

TRONOX INC: Unsecured Creditors to Recover At Least 80% Under Plan
TRONOX INC: Wins Approval to Extend DIP Financing Until Sept. 24
TRUVO USA: Gets Interim Okay to Use Cash Collateral
TRUVO USA: Wants to Hire Jenner & Block as Conflicts Counsel
TRUVO USA: Wants to Hire Houlihan Lokey as Financial Advisor

TRUVO USA: Court Sets Disclosure Statement Hearing for August 5
UNIVERSITY SHOPPES: Confirmation Competing Plans Set for August 12
U.S. AEROSPACE: Corrects Series Preferred Stock to 500 Shares
VANGUARD HEALTH: S&P Raises Rating on $815 Mil. Loan to 'BB-'
VISTEON CORP: Shareholders Want to File Rival Chapter 11 Plan

VYTERIS INC: Consummates Private Placement of $.1 Million of Notes
WASHINGTON MUTUAL: Delays Hearing on Disc. Statement, Examiner
WEST CORP: Bank Debt Trades at 5% Off in Secondary Market
WRIGHT GROUP: Case Summary & 10 Largest Unsecured Creditors
XAVIER K: Case Summary & 20 Largest Unsecured Creditors

YRC WORLDWIDE: Accounting Head Liljegren Discloses Equity Stake

* S&P List of Global Corporate Total Now at 44 This Year
* Default Rate Slows to 6.1% at End of Q2, Moody's Reports
* Maryland, New York, Oklahoma Banks Shuttered as Failures Hit 90
* State Budget Woes 'Just as Tough' in 2011, Fed Economist Says
* Florida Banks Ask Regulators to Ease Requirements

* Grant Thornton Aided Flying J's Successful Chapter 11 Exit

* Large Companies With Insolvent Balance Sheets


                            ********


480 HUMBOLDT: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: 480 Humboldt Housing LLC
        77 Box Street
        Brooklyn, NY 11222

Bankruptcy Case No.: 10-46402

Chapter 11 Petition Date: July 7, 2010

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Joel B. Rosenthal

Debtor's Counsel: Leo Fox, Esq.
                  630 Third Avenue
                  New York, NY 10017
                  Tel: (212) 867-9595
                  Fax: (212) 949-1857
                  E-mail: leofox1947@aol.com

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

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

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

The petition was signed by Joseph Torres, member.


ABITIBIBOWATER INC: Amends Terms of APS Hiring to Address Concerns
------------------------------------------------------------------
As previously reported, AbitibiBowater Inc. and its units sought
(i) to employ AP Services, LLC, as special advisor; and
(ii) designate Lisa Donohue as vice president for Restructuring at
Bowater Canada Finance Corporation, with respect to "intercompany
conflicts" that are anticipated to arise.

The APS and Donahue Application was objected to by Wilmington
Trust Company, as successor indenture trustee for the 7.95% Notes
due 2011 issued by Bowater Canada Finance Corporation pursuant to
an indenture agreement dated as of October 31, 2001; and
Noteholders Aurelius Capital Management, LP, and Contrarian
Capital Management, LLP.

Sean T. Greecher, Esq., at Young Conaway Stargatt & Taylor, LLP,
in Wilmington, Delaware, relates that to resolve the Objections,
the Debtors, APS, Ms. Donohue and the Responding Parties agreed
to modify the proposed order approving the Application, to
provide these terms:

  (a) In the event BCFC seeks to have APS personnel assume
      additional or different executive officer positions than
      the position disclosed in the Application, a request to
      modify the retention will be filed.

  (b) Success fees, transaction fees or other back-end fees
      will be subject to approval by the Court at the conclusion
      of the Chapter 11 cases on a reasonableness standard and
      are not being pre-approved by the Court.  No success fee,
      transaction fee or back-end fee will be sought upon
      conversion or dismissal of the Debtors' cases for cause,
      or appointment of a trustee.

  (c) APS will make all appropriate disclosures of facts that
      may have a bearing on whether the firm, its affiliates,
      or any individuals working on the engagement that have any
      conflict of interest or material adverse interest to the
      Debtors, their creditors, or other parties-in-interest.
      Disclosures will be supplemented on a timely basis as
      needed throughout the engagement.

  (4) APS and Ms. Donahue will be authorized to investigate
      claims, if any, against the directors and officers of BCFC
      arising in connection with the BCFC Notes.  APS and Ms.
      Donahue will be authorized to investigate whether
      conversion of BCFC's Chapter 11 case to a case under
      Chapter 7 of the Bankruptcy Code, or conversion of BCFC's
      CCAA proceeding into a case under the Bankruptcy and
      Insolvency Act of Canada, is appropriate.

  (5) APS and Ms. Donahue will be authorized to investigate
      causes of action, if any,  based on or related to the use,
      or failure to use, of the proceeds of the BCFC Notes.

  (6) APS and Ms. Donahue will prepare a formal report of the
      investigation conducted and recommendations of the course
      of action to be taken by BCFC in connection with the Wind
      Up Claims, the BCFC Claims, the D&Q Claims and the
      Conversion Issue, as defined in the Application.  The
      Report will be available on a strictly confidential basis
      to counsel for (i) the Indenture Trustee for the BCFC
      Notes; (ii) Aurelius and Contrarian; and (iii) any other
      stakeholder, as appropriate.  Attorneys for the
      Noteholders may share the reports with the Noteholders who
      agree either to become restricted from trading or to set
      up appropriate ethical walls.

The Debtors ask the Court to approve the Modified Proposed Order
on the APS Application.

                     About AbitibiBowater

AbitibiBowater produces a wide range of newsprint, commercial
printing papers, market pulp and wood products.  It is the eighth
largest publicly traded pulp and paper manufacturer in the world.
AbitibiBowater owns or operates 22 pulp and paper facilities and
26 wood products facilities located in the United States, Canada
and South Korea.  Marketing its products in more than 90
countries, the Company is also among the world's largest recyclers
of old newspapers and magazines, and has third-party certified
100% of its managed woodlands to sustainable forest management
standards.  AbitibiBowater's shares trade over-the-counter on the
Pink Sheets and on the OTC Bulletin Board under the stock symbol
ABWTQ.

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

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

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

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


ABITIBIBOWATER INC: Seeks Nod of 10th Consent to DIP Facility
-------------------------------------------------------------
AbitibiBowater Inc. and its units seek U.S. Bankruptcy Judge Kevin
Carey's permission to enter into a "Consent No. 10" to the
$206 million of senior secured DIP facility under the Senior
Secured Superpriority DIP Credit Agreement dated April 21, 2009,
as amended, by and among AbitibiBowater Inc., Bowater Incorporated
and Bowater Canadian Forest Products Inc., as borrowers; certain
lenders; and Fairfax Financial Holdings Inc., as initial lender,
initial administrative agent and initial collateral agent.'

Sean T. Greecher, Esq., at Young Conaway Stargatt & Taylor, LLP,
in Wilmington, Delaware, relates that the DIP Credit Agreement
had an initial maturity date of April 21, 2010, which pursuant to
an amendment has been extended to May 5, 2010.

Upon the filing of the Joint Chapter 11 Plan of Reorganization by
the U.S. Debtors, and the Plan of Reorganization and Compromise
by the AbitibiBowater applicants under the Companies' Creditors
Arrangement Act in Canada, the maturity date of the DIP Credit
Agreement has been further extended through July 21, 2010.

As the Maturity Date of the DIP Credit Agreement approached, the
Debtors determined, in light of improving market conditions and
operational performance, to engage in negotiations regarding a
paydown of a substantial portion of the amounts outstanding under
the DIP Agreement, Mr. Greecher tells the Court.

In particular, Mr. Greecher says, the Debtors and the CCAA
Applicants sought to:

  (i) reduce the aggregate size of the DIP Facility to better
      suit the needs of the Bowater Debtors and thus, avoid
      paying interest on account of a facility that has become
      unnecessarily large given the Debtors' current cash
      position;

(ii) take advantage of the improving market to improve pricing
      terms on the Facility generally;

(iii) extend the maturity date of the DIP Credit Agreement so
      that the Debtors would be assured of having access to
      their postpetition financing for the anticipated duration
      of their Chapter 11 cases; and

(iv) obtain covenant relief, including modifications to certain
      financial covenants and the ability to retain the proceeds
      from certain asset sales without triggering a mandatory
      prepayment.

In this regard, the Debtors, the DIP Agent, the DIP Lenders and
their advisors have engaged in good faith, arm's-length
negotiations to enter into a Tenth Amendment to the DIP Credit
Agreement.  The key terms of the Tenth DIP Facility Amendment
are:

Modified Term        Description
-------------        -----------
Maturity Date        Extended to the earliest of December 31,
                      2010 or the effective date of the Plans.

                      Need for 18-month extension option
                      eliminated, and other provisions,
                      including consent requirements for
                      obtaining the Extension, are deleted.

Duration Fee         If the aggregate principal amount of the
                      Facility has not been repaid in full on or
                      prior to October 15, 2010, the Debtors
                      will pay a fee, on October 15, 2010, to
                      the DIP Agent for the account of the DIP
                      Lenders equal to 0.5% of each DIP Lenders'
                      portion of the $206 million advanced
                      under the Facility.

Loan Amount          Upon effectiveness of the Tenth Amendment,
                      the Debtors will repay the principal
                      amount outstanding until only $40 million
                      in aggregate principal amount remains
                      outstanding.

Interest Expense     Applicable margin reduced to 5%, in the
                      case of a Base Rate Advance, and 6%, in
                      the case of a LIBOR Advance; LIBOR floor
                      reduced to 2%

Financial Covenant   Minimum Consolidated Fixed Charge Coverage
                      Ratio covenant extended for the four
                      fiscal quarter periods ending December 31,
                      2010, and set at the same level as the
                      four fiscal quarter periods ending
                      September 30, 2010.

                      Minimum Consolidated EBITDA 2010 covenant
                      extended for each of the 12-month periods
                      ending on October 31, 2010, November 31,
                      2010, and December 31, 2010, and set at
                      the same level as the 12-month period
                      ending on September 30, 2010.

                      Definition of Consolidated EBITDA modified
                      to remove a 5% limit on unusual or non-
                      recurring charges that the Debtors
                      may include in the computation.

Mandatory Prepayment  Asset Dispositions pursuant to the
                      Debtors' de minimis asset sale procedures
                      will no longer trigger a mandatory
                      prepayment with the Net Cash Proceeds.

Intercompany Debt     Increase of basket for the aggregate
Basked                amount of debt owed by subsidiaries
                      of the Debtors which are not borrowers or
                      guarantors under the DIP Credit Agreement
                      to borrowers or guarantors (net of certain
                      investments) by $10,000,000 to $35,000,000
                      (net of certain investments).

In exchange for the modifications under the Tenth DIP Amendment,
the Bowater Debtors have agreed to pay a fee to the DIP Lenders
equal to 0.5% of the aggregate principal amount presently
outstanding, or $1.03 million.  This Amendment Fee is due and
payable upon the closing of the Tenth Amendment, Mr. Greecher
specifies.

"With these modifications, the Debtors estimate that the Tenth
Amendment will yield cost savings of approximately $4 million
through the end of September 2010," Mr. Greecher notes.

Mr. Greecher further points out that extension of the DIP
Maturity Date through October 21, 2010, under Tenth DIP Amendment
will allow the Debtors to focus to expeditiously emerge from
Chapter 11 and reduce the potential for needless distraction from
the Debtors' emergence efforts.  Moreover, the Tenth DIP
Amendment eliminates any uncertainty and risk concerning the
Debtors' ability to obtain an extension past the Current Maturity
Date of July 21, 2010.

The Debtors also seek a waiver of any stay of the effectiveness
of the order approving their Tenth DIP Amendment request.

                  Debtors Seek Waiver of Stay
                  Under Bankruptcy Rule 6004(h)

Rule 6004(h) of the Federal Rules of Bankruptcy Procedure
provides that "[a]n order authorizing the use, sale or lease of
property other than cash collateral is stayed until the
expiration of fourteen (14) days after the entry of the order,
unless the court orders otherwise."  To enable to the Debtors to
gain substantial benefits from the Tenth DIP Amendment as
promptly as possible, it is appropriate for the Court to waive
the Stay under Bankruptcy Rule 6004(h), Mr. Greecher contends.

The Court will convene a hearing on July 15, 2010, to consider
approval of the Tenth DIP Amendment.  Objections, if any, are due
on July 8.

                     About AbitibiBowater

AbitibiBowater produces a wide range of newsprint, commercial
printing papers, market pulp and wood products.  It is the eighth
largest publicly traded pulp and paper manufacturer in the world.
AbitibiBowater owns or operates 22 pulp and paper facilities and
26 wood products facilities located in the United States, Canada
and South Korea.  Marketing its products in more than 90
countries, the Company is also among the world's largest recyclers
of old newspapers and magazines, and has third-party certified
100% of its managed woodlands to sustainable forest management
standards.  AbitibiBowater's shares trade over-the-counter on the
Pink Sheets and on the OTC Bulletin Board under the stock symbol
ABWTQ.

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

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

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

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


ABITIBIBOWATER INC: Wins Nod of Lufkin Mill Bidding Procedures
--------------------------------------------------------------
U.S. Bankruptcy Judge Kevin Carey approved the proposed uniform
bidding procedures to govern the sale of the Debtors' "permanently
idled" paper mill site located at Highway 103, East Lufkin, in
Angelina County, Texas.

The Auction will take place on August 2, 2010, at the offices of
Young Conaway Stargatt & Taylor, LLP, in Wilmington, Delaware.
The hearing to approve the Sale will be held on August 4, the
Court ruled.

The Debtors said that they received no objections to the Motion.

AbitibiBowater, Inc. Vice President of Business Support Luc
LaChapelle related in a declaration filed with the Court that the
Lufkin Bidding Procedures "are appropriate in order to obtain the
highest and best offer for the assets."

Specifically, the Bid Procedures, which do not include stalking
horse protections, are designed to encourage competitive bidding
in an orderly manner to maximize value for the Debtors' estates
and their stakeholders, Mr. LaChapelle says.

The Debtors will serve copies of the Auction and Sale Notice, the
Purchase Sale Agreement, and the Bid Procedures Order by mail,
postage prepaid to all entities known to have expressed a bona
fide interest, within the last three years, in acquiring the
Lufkin Property.  The Debtors will also cause a form of the
Auction and Sale Notice to be published in the Texas Real Estate
Business Journal to offer parties-in-interest a fair opportunity
to make a bid to acquire the Lufkin Property.

As previously reported, the Debtors have agreed to sell the
Lufkin Property for $20,500,000 to CIT Partners LLC pursuant to a
Purchase and Sale Agreement.  However, CIT has been unable to
consummate the sale and the transaction failed to close by the
expiration of the last closing extension deadline of June 4,
2010.

                     About AbitibiBowater

AbitibiBowater produces a wide range of newsprint, commercial
printing papers, market pulp and wood products.  It is the eighth
largest publicly traded pulp and paper manufacturer in the world.
AbitibiBowater owns or operates 22 pulp and paper facilities and
26 wood products facilities located in the United States, Canada
and South Korea.  Marketing its products in more than 90
countries, the Company is also among the world's largest recyclers
of old newspapers and magazines, and has third-party certified
100% of its managed woodlands to sustainable forest management
standards.  AbitibiBowater's shares trade over-the-counter on the
Pink Sheets and on the OTC Bulletin Board under the stock symbol
ABWTQ.

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

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

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

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


ACCO BRANDS: S&P Gives Stable Outlook, Affirms 'B+' Rating
----------------------------------------------------------
On July 9, 2010, Standard & Poor's Ratings Services revised its
outlook on ACCO Brands Corp. to stable from negative.  At the same
time, S&P affirmed the ratings on ACCO, including the 'B+'
corporate credit rating.  As of March 31, 2010, ACCO had about
$725 million of debt outstanding.

"The outlook revision to stable reflects S&P's view that the
company's improving operating performance will be maintained in
the near term and that credit measures will remain close to
current levels and then improve over time," said Standard & Poor's
credit analyst Jean C. Stout.

S&P's ratings on ACCO Brands Corp. reflect the highly competitive
and cyclical operating conditions in which the company operates,
some customer concentration, and the company's leveraged financial
profile.  However, S&P believes ACCO benefits from its leading
market position, a portfolio of well-known brands, and wide
geographic distribution.

S&P believes ACCO is one of the world's largest office supply
manufacturers; the company has about $1.3 billion in sales for the
year ended Dec. 31, 2009.  ACCO's portfolio of well-recognized
brands includes Swingline, GBC, Day-Timer, Quartet, and
Kensington.  However, the office supply industry is highly
competitive, has very limited barriers to entry, and is subject to
cyclicality.  In addition, the industry is concentrated in a small
number of major customers, principally office products
superstores, office products distributors, and mass merchandisers,
some of which have instituted private-label or direct-sourcing
initiatives.  Although S&P believes ACCO benefits from geographic
diversity, because the company reported that slightly more than
50% of 2009 sales were generated outside of the U.S., the European
office products markets are also intensely competitive, and sales
and profits are susceptible to unfavorable changes in exchange
rates.  In addition, the company's sales are highly seasonal; ACCO
reports its highest sales volume in the third and fourth quarters
of the calendar year.


AES EASTERN: S&P Cuts Rating to 'BB' on Declining Electric Prices
-----------------------------------------------------------------
S&P downgrades AES Eastern Energy's Rating to 'BB' on declining
electric prices.  S&P also gives a negative outlook.


ALEXIS BOBILA: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Joint Debtors: Alexis C. Bobila
               Deborah Bobila
               fka Deborah F. Ames
               732 High Woods Drive
               Franklin Lakes, NJ 07417

Bankruptcy Case No.: 10-31037

Chapter 11 Petition Date: July 8, 2010

Court: United States Bankruptcy Court
       District of New Jersey (Newark)

Judge: Rosemary Gambardella

Debtor's Counsel: Nancy Isaacson, Esq.
                  Greenbaum, Rowe, Smith & Davis, LLP
                  75 Livingston Avenue
                  Roseland, NJ 07068
                  Tel: (973) 535-1600
                  E-mail: nisaacson@greenbaumlaw.com

Scheduled Assets: $1,730,924

Scheduled Debts: $4,366,725

A list of the Joint Debtors' 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/njb10-31037.pdf

The petition was signed by the Joint Debtors.


ALMATIS BV: Asks for August 27 Extension for Schedules
------------------------------------------------------
Almatis B.V. and its affiliated debtors asked the U.S. Bankruptcy
Court for the Southern District of New York to give them until
August 27, 2010, to file their schedules of assets and liabilities
and statements of financial affairs.

The Debtors are required to file the Schedules and Statements on
or before the July 13, 2010 deadline, pursuant to the Court's
prior order.

"In light of the size and complexity of the Debtors' business
operations, the number of creditors involved in the Chapter 11
cases and the international scope of the Debtors' operations,
substantial time will be required to complete the schedules and
statements," says Matthew Kelsey, Esq., at Gibson Dunn & Crutcher
LLP, in New York.

Gibson Dunn will present a proposed order on the Debtors' request
to the Court for signature on July 13, 2010.  Deadline for filing
objections is July 12, 2010.

            Debtors Also Want Rule 2015.3 Extension

Almatis B.V. and its debtor affiliates asked the U.S. Bankruptcy
Court for the Southern District of New York to give them until
August 12, 2010, to file financial reports on entities in which
they hold a controlling or substantial interest.

The current deadline for the Debtors to file the financial
reports is set to expire on July 13, 2010.

The Debtors seek an extension to give them additional time to
prepare the reports in case a meeting of unsecured creditors is
scheduled, according to their attorney, Matthew Kelsey, Esq., at
Gibson Dunn & Crutcher LLP, in New York.

Rule 2015.3(b) of the Federal Rules of Bankruptcy Procedure
requires a debtor to file its first report no later than seven
days before the first date set for the meeting of creditors under
Section 341 of the Bankruptcy Code.

No meeting of creditors has been scheduled in the Debtors' cases
because their Joint Prepackaged Chapter 11 Plan of Reorganization
provides that the claims of general unsecured creditors are
unimpaired, according to Mr. Kelsey.

The Debtors had already been informed by the Office of the U.S.
Trustee that no meeting will be held if the Plan is confirmed at
the July 19, 2010 hearing.

Gibson Dunn will present a proposed order on the Debtors' request
to the Court for signature on July 13, 2010.  Deadline for filing
objections is July 12, 2010.

                       About Almatis Group

Alamtis B.V. and its affiliates filed for Chapter 11 on April 30,
2010 (Bankr. S.D.N.Y. Lead Case No. 10-12308).  Almatis B.V.
estimated assets of US$500 million to US$1 billion and debts of
more than US$1 billion as of the bankruptcy filing.

Almatis, operationally headquartered in Frankfurt, Germany, is a
global leader in the development, manufacture and supply of
premium specialty alumina products.  With nearly 900 employees
worldwide, the company's products are used in a wide variety of
industries, including steel production, cement production, non-
ferrous metal production, plastics, paper, ceramics, carpet
manufacturing and electronic industries.  Almatis operates nine
production facilities worldwide and serves customers around the
world.  Until 2004, the business was known as the chemical
business of Alcoa.  Almatis is now owned by Dubai International
Capital LLC, the international investment arm of Dubai Holding.

Michael A. Rosenthal, Esq., at Gibson, Dunn & Crutcher LLP, serves
as counsel to the Debtors in the Chapter 11 cases.  Linklaters LLP
is the special English and German counsel and De Brauw Blackstone
Westbroek N.V. is Dutch counsel.  Epiq Bankruptcy Solutions, LLC,
serves as claims and notice agent.

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


ALMATIS BV: Considers New Refinancing Proposal From DIC
-------------------------------------------------------
Almatis B.V. is considering a new refinancing proposal from Dubai
International Capital LLC that would pay off the Company's senior
debt in full.

In a July 7 letter to Bankruptcy Judge Martin Glenn for the
Southern District of New York, Almatis' legal counsel related
that DIC recently presented a proposal to refinance the Company's
senior debt.  The proposal received on July 2, Almatis said,
would allow its junior creditors to recover more than under the
current proposed restructuring plan.

Michael A. Rosenthal, Esq., of Gibson, Dunn & Crutcher LLP,
Almatis' counsel, averred, "Unlike prior proposals from DIC, the
Alternative Plan Proposal comes with evidence, which [Almatis is]
currently evaluating, of financing necessary for its
implementation."

Almatis, along with its debtor affiliates, initially filed with
the Bankruptcy Court on April 30, 2010, a prepackaged
restructuring plan that would see it taken over its largest
senior lender, Oaktree Capital Management Ltd., which owns about
46% of the Company's senior debt.

Under the April 30 Plan, Oaktree Capital would own about 80% of
Almatis after the restructuring.  The Current Plan would more
than halve Almatis' debts to about $422 million, with senior
lenders which are owed about $680 million, being offered options
under the plan.

DIC, the largest equity holder of Almatis, earlier expressed its
opposition to the Oaktree-led restructuring plan as the plan
contemplates wiping out DIC's equity stake as well as the debt
claims of more subordinated mezzanine and second-lien lenders.

"The alternative plan proposal is sufficiently compelling to
warrant further diligence and negotiation before the Debtors'
management can evaluate whether they have a fiduciary duty to
pursue its implementation," New York-based Gibson Dunn &
Crutcher LLP stated in the July 7 letter.

Gibson Dunn, on Almatis' behalf, consequently asked Judge Glenn
to postpone the July 19 hearing on the confirmation of the
current restructuring plan until mid-August and instead, use the
earlier set hearing date to conduct a status conference.

Oaktree Capital is opposing the postponement of the July 19
confirmation hearing, saying it would lessen the incentive for
any party that may have an alternative plan to continue to
negotiate with Almatis and its affiliated debtors.

Oaktree Capital further says that it "is unaware of any facts
suggesting that this DIC proposal, as opposed to all prior DIC
proposals, is feasible and deliverable."

Moreover, Oaktree Capital questions the ability of DIC to deliver
an alternative restructuring proposal that is better than the
current proposed plan given DIC's "overindebted state."  DIC's
own public statements showed that it owes its own creditors
$2.6 billion, Oaktree Capital points out.

                       About Almatis Group

Alamtis B.V. and its affiliates filed for Chapter 11 on April 30,
2010 (Bankr. S.D.N.Y. Lead Case No. 10-12308).  Almatis B.V.
estimated assets of US$500 million to US$1 billion and debts of
more than US$1 billion as of the bankruptcy filing.

Almatis, operationally headquartered in Frankfurt, Germany, is a
global leader in the development, manufacture and supply of
premium specialty alumina products.  With nearly 900 employees
worldwide, the company's products are used in a wide variety of
industries, including steel production, cement production, non-
ferrous metal production, plastics, paper, ceramics, carpet
manufacturing and electronic industries.  Almatis operates nine
production facilities worldwide and serves customers around the
world.  Until 2004, the business was known as the chemical
business of Alcoa.  Almatis is now owned by Dubai International
Capital LLC, the international investment arm of Dubai Holding.

Michael A. Rosenthal, Esq., at Gibson, Dunn & Crutcher LLP, serves
as counsel to the Debtors in the Chapter 11 cases.  Linklaters LLP
is the special English and German counsel and De Brauw Blackstone
Westbroek N.V. is Dutch counsel.  Epiq Bankruptcy Solutions, LLC,
serves as claims and notice agent.

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


ALMATIS BV: Court Refuses to Seal Junior Lenders' Plan Objections
-----------------------------------------------------------------
U.S. Bankruptcy Judge Martin Glenn did not permit a group of
junior lenders led by Babson Capital Europe Ltd. to file under
seal its objections to the restructuring plan and disclosure
statement of Almatis B.V. and its debtor affiliates.

The Junior Lenders earlier sought approval to file the objections
and other documents under seal in accordance with the June 14,
2010 stipulation governing the production and sharing of
confidential information.

In a two-page order, Judge Glenn said that the "wholesale filing"
of documents under seal is not permitted.

"While the lenders' submissions may well include references to
documents or deposition testimony that are entitled to protection
. . . the burden rests on any party seeking to have materials
filed under seal to establish why an exception to the presumption
of public access should be permitted," Judge Glenn said.

The Court, however, authorized the Junior Lenders to remove parts
of the documents entitled to protection under Section 107 of the
Bankruptcy Code.  Judge Glenn also ordered anyone who has
objections to public access of the documents to make an agreement
with the Junior Lenders' lawyers to redact those documents,
subject to Court approval.  If no agreement is reached, the
objecting party is required to contact the Court to arrange a
hearing.

The redaction process must be completed on or before July 9,
2010, or the Court will order the filing of the unredacted copies
of the documents.

Dubai International Capital LLC earlier filed a statement with
the Court, expressing support to the Junior Lenders' objections.

In a related development, the Debtors sought and obtained a Court
order allowing their memorandum of law in support of their
restructuring plan to exceed the page limit by no more than 10
pages.  The document will address, among other things, the
requirements of Section 1129(a) of the Bankruptcy Code for the
confirmation of the Plan.  It will also address issues relevant
to the confirmation, which include the assumption, assignment or
rejection of executory contracts and leases, the release and
exculpation provisions, and any objection to the Plan's
confirmation.

                       About Almatis Group

Alamtis B.V. and its affiliates filed for Chapter 11 on April 30,
2010 (Bankr. S.D.N.Y. Lead Case No. 10-12308).  Almatis B.V.
estimated assets of US$500 million to US$1 billion and debts of
more than US$1 billion as of the bankruptcy filing.

Almatis, operationally headquartered in Frankfurt, Germany, is a
global leader in the development, manufacture and supply of
premium specialty alumina products.  With nearly 900 employees
worldwide, the company's products are used in a wide variety of
industries, including steel production, cement production, non-
ferrous metal production, plastics, paper, ceramics, carpet
manufacturing and electronic industries.  Almatis operates nine
production facilities worldwide and serves customers around the
world.  Until 2004, the business was known as the chemical
business of Alcoa.  Almatis is now owned by Dubai International
Capital LLC, the international investment arm of Dubai Holding.

Michael A. Rosenthal, Esq., at Gibson, Dunn & Crutcher LLP, serves
as counsel to the Debtors in the Chapter 11 cases.  Linklaters LLP
is the special English and German counsel and De Brauw Blackstone
Westbroek N.V. is Dutch counsel.  Epiq Bankruptcy Solutions, LLC,
serves as claims and notice agent.

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


ARROW AIR: Wants to Extend Aircraft Lease Period
------------------------------------------------
Arrow Air Holdings Corp. and Arrow Air, Inc., have sought
authorization from the U.S. Bankruptcy Court for the Southern
District of Florida to enter into a stipulation with Wells Fargo
Bank Northwest, N.A., to extend the 60-day period with respect to
certain aircraft equipment leased by the Debtors.

The Debtors seek approval of the stipulation, which would allow
the Debtors to continue using the Aircraft Equipment by extending
the Section 1110 Period, for all purposes, until (a) October 31,
2010; (b) the date on which the Stipulation is terminated in
accordance with paragraph 10 thereof, if earlier than October 31,
2010; or (c) such later date as the Debtor and the Lessor may
agree in writing.  Section 1110 of the Bankruptcy Code provides
certain special rights and protections to secured parties,
lessors, and conditional vendors of certain aircraft equipment.

The Debtors require the aircraft equipment for a short duration in
order to determine the appropriate disposition of the aircraft
equipment.  If the Court denies the Debtors authorization of the
stipulation, the Lessor would have the right to exercise
possessory remedies after expiration of the 60-day period, which
could result in the loss of the Debtors' airline operating
certificate.  Loss of the operating certificate, in turn, could
negatively impact the Debtors' ability to sell their business to a
third party.  The Debtors reasonably believe that consideration of
the relief requested is required as soon as the Court's calendar
will permit.

The stipulation will terminate three business days after receipt
by the Debtor of written notice from the Lessor specifying the
Lessor's intent to terminate this Stipulation.

Kenric D. Kattner at Haynes And Boone, LLP, represents the Lessor.

Miami, Florida-based Arrow Air, Inc., provides scheduled and
charter cargo logistics services between the United States,
Central and South America, and the Caribbean.  The Company is a
wholly owned subsidiary of Arrow Air Holdings Corp., which is 95%
owned by an affiliate of MatlinPatterson Global Opportunities
Partners III.

Arrow Air, Inc., dba Arrow Cargo, filed for Chapter 11 bankruptcy
protection on June 30, 2010 (Bankr. S.D. Fla. Case No. 10-28831).
Jordi Guso, Esq., who has an office in Miami, Florida, represents
the Debtor in its restructuring effort.  The Company listed
$10,000,001 to $50,000,000 in assets and $100,000,001 to
$500,000,000 in liabilities.


ARROW AIR: Wants to Reject Certain Executory Contracts & Leases
---------------------------------------------------------------
Arrow Air Holdings Corp. and Arrow Air, Inc., have asked for
authorization from the U.S. Bankruptcy Court for the Southern
District of Florida to reject certain executory contracts and
unexpired leases.

The Debtors are parties to numerous executor contracts and
unexpired leases, and have identified several contracts and leases
that won't benefit their estates.  The Debtors have sought
permission from the Court to reject the contracts and leases
listed at http://bankrupt.com/misc/ARROW_AIR_contracts.pdfto
prevent the unnecessary accrual of postpetition administrative
expenses under the terms of the contracts and leases.

Miami, Florida-based Arrow Air, Inc., provides scheduled and
charter cargo logistics services between the United States,
Central and South America, and the Caribbean.  The Company is a
wholly owned subsidiary of Arrow Air Holdings Corp., which is 95%
owned by an affiliate of MatlinPatterson Global Opportunities
Partners III.

Arrow Air, Inc., dba Arrow Cargo, filed for Chapter 11 bankruptcy
protection on June 30, 2010 (Bankr. S.D. Fla. Case No. 10-28831).
Jordi Guso, Esq., who has an office in Miami, Florida, represents
the Debtor in its restructuring effort.  The Company listed
$10,000,001 to $50,000,000 in assets and $100,000,001 to
$500,000,000 in liabilities.


ARVINMERITOR INC: Moody's Raises Corporate Family Rating to 'B3'
----------------------------------------------------------------
Moody's Investors Service raised the Corporate Family and
Probability of Default ratings of ArvinMeritor, Inc., to B3 from
Caa1.  In a related action, Moody's raised the rating on the
senior secured revolving credit facility to Ba3 from B1, and
raised the ratings on the senior unsecured notes to Caa1 from
Caa2.  Moody's also affirmed ArvinMeritor's Speculative Grade
Liquidity Rating at SGL-3.  The rating outlook is stable.

The upgrade of ArvinMeritor's Corporate Family Rating to B3
reflects Moody's view that improving drivers of commercial vehicle
demand have reduced the company's risk of default and will support
credit metrics consistent with the assigned rating over the near-
term.  These drivers include improved year over year truck tonnage
and improving truck load rates, as domestic economic conditions
stabilize.  These drivers are expected to support increased
commercial vehicle demand to replace the existing fleet and
provide trucking capacity for further potential improvements in
economic conditions.  However, Moody's continues to expect a
recovery in North American commercial vehicle orders to be delayed
until late 2010.  About 52% of the company's fiscal 2010 revenues
to date are from North America, where demand is expected to
strengthen in the second half of the year.  But with,
approximately 21% of the company's revenue from Europe, a slower
pace of economic recovery is expected to constrain overall growth.
Tight credit markets also may limit near-term growth in commercial
vehicle purchases.

The stable outlook reflects Moody's expectation that the
combination of stabilized industry conditions and operating
improvements completed by ArvinMeritor will support the assigned
rating over the near-term.  The company's liquidity profile should
support the company's operating flexibility into fiscal 2011 when
global economic conditions are expected to recover more
substantially.  For the LTM period ending March 31, 2010,
ArvinMeritor's EBIT/Interest coverage (including Moody's standard
adjustments) approximated 0.8x.

ArvinMeritor is anticipated to have an adequate liquidity profile
over the next twelve months.  As of March 31, 2010, the company
maintained $274 million of cash balances, with most of this amount
located overseas.  Free cash flow generation over the next twelve
months is expected to be challenged by working capital and capital
reinvestment needs to support anticipated increased demand in 2010
and early 2011.  While operating flexibility should benefit from
the lack of debt amortization requirements, ArvinMeritor had
approximately $133 million outstanding under short-term off-
balance sheet factoring and securitization programs which will
need to be extended to preserve liquidity.  As of March 31, 2010,
the company's $539 million revolving credit facility was unused
with approximately $26 million of letters of credit outstanding.
Total commitments under this facility will reduce to $396 million
in June 2011 and mature in January 2014.  The principal financial
covenant is a senior secured leverage test which is expected to
have sufficient cushion to permit access to the full revolver over
the near-term.  The facility also incorporates an availability
limitation based on available collateral securing the facility.
The revolving credit is secured by a first lien on certain assets
of the company, primarily consisting of eligible domestic U.S.
accounts receivable, inventory, plant, property and equipment,
intellectual property and the company's investment in all or a
portion of certain of its wholly-owned subsidiaries.  Negative
covenants under the revolver limit both annual and cumulative
amounts of asset sales.

Ratings raised:

* Corporate Family Rating, to B3 from Caa1;

* Probability of Default Rating, to B3 from Caa1;

* Senior secured bank debt, to Ba3 (LGD1, 4%) from B1 (LGD1, 5%);

* Senior unsecured notes, to Caa1 (LGD4, 58%) from Caa2 (LGD4,
  60%);

* Shelf unsecured notes, to (P)Caa1 (LGD4, 58%) from (P)Caa2

Rating affirmed:

* Speculative Grade Liquidity Rating, at SGL-3

The last rating action for ArvinMeritor was on February 23, 2010,
when the Corporate Family Rating was affirmed and the rating
outlook changed to positive.

ArvinMeritor, Inc., headquartered in Troy, MI, is a global
supplier of a broad range of integrated systems, modules and
components serving light vehicles, commercial trucks, trailers,
and specialty original equipment manufacturers, as well as certain
aftermarkets.  Revenues in fiscal 2009 were approximately
$4.1 billion.


ASARCO LLC: Globeville Class Suit Ended With $440,000 Payout
------------------------------------------------------------
A $440,000 payout by ASARCO LLC has ended a 13-year class action
commenced by residents of Globeville, Colorado, 9news.com
reports.

"The payments average over $5,300, about double what these
residents were going to receive prior to Asarco bankruptcy,"
Boulder attorney Randall Weiner, Esq., was quoted by 9news.com as
saying.

On October 6, 1997, certain representatives brought a class
action styled In re Lalo and Eumelia C. Debaca, et al. v. ASARCO
Incorporated, in the District Court of the city of Denver,
claiming that residential properties in the South Globeville
neighborhood of Denver, Colorado, were contaminated with arsenic,
cadmium and lead released from ASARCO's Globeville operations.
The class action was settled shortly before trial, with the
settlement agreement providing for payment of $3,926,000,
exclusive of ASARCO LLC's actual costs of remediation.

ASARCO was separately obligated to remediate 283 residential
properties.  However, ASARCO filed for bankruptcy protection
after the 2005 ruling in the class action was entered.

When ASARCO was still under bankruptcy protection, the Debaca
Class filed several proofs of claim against the bankruptcy
estates.  ASARCO objected to some of those, arguing that its
alleged breach of the Prepetition Settlement Agreement does not
give rise to a postpetition administrative claim.

The parties subsequently entered into a postpetition settlement
agreement that resolved all of the claims asserted by the Debaca
Class, totaling more than $1,570,000.

                          About Asarco LLC

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

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

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

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


AUGUST BLASS: Case Summary & 4 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: August Blass
          aka August Ron Blass
        606 Dove Court
        Pleasant Hill, CA 94523

Bankruptcy Case No.: 10-47735

Chapter 11 Petition Date: July 8, 2010

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

Judge: Randall J. Newsome

Debtor's Counsel: Ted Z. Wolny, Esq.
                  Miller Wolny Legal Group
                  P.O. Box 3579
                  San Leandro, CA 94578
                  Tel: (510) 346-5800
                  E-mail: tedwolny@gmail.com

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

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

According to the schedules, the Debtor says that assets total
$725,400 while debts total $1,368,000.

A copy of the Debtor's list of 4 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/canb10-47735.pdf

The petition was signed by the Debtor.


AVIS BUDGET: Prepares Offer to Top Hertz's $1.2-Bil. Bid for DTAG
-----------------------------------------------------------------
According to The Wall Street Journal's Gina Chon and Anupreeta
Das, people familiar with the matter said Monday Avis Budget Group
Inc. is proceeding with plans to make an offer for Dollar Thrifty
Automotive Group Inc. that would top rival Hertz Global Holdings
Inc.'s $1.2 billion bid.  The sources said Avis is looking to take
on more debt to finance the deal.  The sources said Avis would
present an offer perhaps in late July or early August.

According to the report, people familiar with the matter said Avis
asked its lenders to amend its credit agreement that would allow
Avis to borrow more money to finance the Dollar Thrifty bid.
Sources told the Journal cash will make up the bulk of Avis' bid.
Hertz's offer is made up of 80% cash and 20% stock.

Avis has concluded its due diligence on Dollar Thrifty.  Sources
told the Journal Avis' decision to take on more debt shows how
serious it is about its Dollar Thrifty offer.

Dollar Thrifty set an August 18 date for shareholders to vote on
its proposed sale to Hertz, which offered $41 a share, or about
$1.2 billion.

"Right now we are totally focused on that Aug. 18 vote.  There is
nothing else to be prepared for at this point," says Richard
Broome, a spokesman for Hertz, according to the Journal.  "What do
you do? How do you deal with some phantom offer that people talk
about but never gets made?" he says.

Avis declined to comment.

The Journal notes under its agreement with Dollar, Hertz has 48
hours to respond to an Avis bid.

                         Hertz Merger Deal

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.  The $41.00 per share purchase price is
comprised of 80% cash consideration and 20% stock consideration.

Hertz will also assume or refinance Dollar Thrifty's existing
fleet debt, outstanding at closing.  Upon the close of the
transaction, Dollar Thrifty stockholders will own 5.5% of the
combined company on a diluted basis.  Dollar Thrifty will become a
wholly owned subsidiary of Hertz and Dollar Thrifty common stock
will cease trading on the NYSE.

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 Avis Budget Group

Avis Budget Group -- http://www.avisbudgetgroup.com/-- provides
vehicle rental services, with operations in more than 70
countries.  Through its Avis and Budget brands, the Company is a
leading vehicle rental company in each of North America,
Australia, New Zealand and certain other regions based on
published airport statistics.  Avis Budget Group is headquartered
in Parsippany, N.J. and has more than 22,000 employees.

At March 31, 2010, the Company had total assets of $10.257 billion
against total current liabilities of $1.328 billion, total
liabilities exclusive of liabilities under vehicle programs of
$4.044 billion and liabilities under vehicle programs of $5.987
billion, resulting in stockholders' equity of $226 million.

                           *     *     *

Avis Budget Car Rental LLC continues to carry Moody's Investors
Service's B2 corporate family rating.  Avis Budget Group Inc.
carries Standard & Poor's Ratings Services' B+ corporate credit
rating.

                         About Hertz Corp.

Hertz Corporation, headquartered in Park Ridge, New Jersey, is an
automobile and equipment rental company.

Hertz carries Moody's B1 Corporate Family Rating and Probability
of Default Rating.

                       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'.


BANKRATE INC: S&P Assigns Corporate Credit Rating at 'B'
--------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to North Palm Beach, Fla.-based Bankrate Inc.  The
rating outlook is stable.  The rating and outlook are in line with
S&P's previous expectations before the debt transaction was
completed.

At the same time, S&P assigned the company's $300 million senior
secured notes due 2015 a final issue-level rating of 'B' with a
recovery rating of '4', indicating S&P's expectation of average
(30% to 50%) recovery for noteholders in the event of a payment
default.

The company plans to use proceeds from the proposed notes to
acquire NetQuote, an online insurance lead generator, and
CreditCards.com, an online credit card marketplace, for
$205 million and $145 million, respectively.  Pro forma for the
transaction, debt balances were $300 million as of March 31, 2010.

"The 'B' corporate credit rating reflects Bankrate's high debt
balances following the transaction, sizable potential litigation
settlements, the company's acquisitive growth strategy (which
could preclude deleveraging in the future), the highly competitive
online financial information marketplace, and vulnerability to
economic activity and interest rate fluctuations that drive site
traffic and ad rates," said Standard & Poor's credit analyst Andy
Liu.  "The company's leading position as a compiler of financial
product information and rate tables, its healthy conversion of
EBITDA to discretionary cash flow, and its editorial capabilities
and co-branding relationships are positives that do not fully
offset these risks."

Bankrate offers personal financial information and aggregates rate
data for over 300 financial products from roughly 4,800 lending
institutions.  The customer base is broadly diverse, although its
advertisers are mainly financial institutions that are subject to
similar prevailing trends and economic headwinds.  The online
consumer financial marketplace, which is affected by the health of
the economy, credit environment, and housing markets, as well as
interest rate fluctuations that influence refinancing and lending
activity, has started to show signs of recovery in the second
quarter of 2010.  Still, S&P expects overall site traffic, click-
through rates, and cost per click pricing to remain weak over the
intermediate term compared to historical levels.

Pro forma for the transaction, Bankrate's revenue base will be
less dependent on display advertising and CPC pricing mainly
associated with its financial product and rate table hyperlinks;
both of these sources are more susceptible in a weak economy.
NetQuote will increase the company's exposure to insurance leads -
- a business S&P believes is generally less cyclical than
financial products.  In addition, S&P believes the acquisitions
provide an opportunity for Bankrate to bolster the level of
traffic from company-owned sources to both NetQuote and
Creditcards.com through its editorial and media relationships.
Organically generated traffic is more profitable than traffic from
co-branding or paid search.


BARNSLEY SQUARE: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Barnsley Square, LP
        623 Selvaggio Drive, Suite 200
        Nazareth, PA 18064
        Tel: (610) 759-4511

Bankruptcy Case No.: 10-22015

Chapter 11 Petition Date: July 8, 2010

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

Judge: Richard E. Fehling

Debtor's Counsel: Erv D. McLain, Esq.
                  McLain & Associates
                  561 Main Street, Suite 275
                  Bethlehem, PA 18018
                  Tel: (610) 866-9700
                  E-mail: erv_mclain@mclainlawpc.com

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

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

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

The petition was signed by Stephen F. Selvaggio, member.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Selvaggio Enterprises, Inc.           --                        --


BLACK BULL: Reorganization Case Converted to Ch. 7 Liquidation
--------------------------------------------------------------
The Hon. Ralph B. Kirscher of the U.S. Bankruptcy Court for the
District of Montana converted Black Bull Run Development LLC's
chapter 11 case to one under Chapter 7 of the Bankruptcy Code.

As reported in the Troubled Company Reporter  on  June 16, 2010,
creditor OneWest Bank sought for the conversion of the Debtors
case on grounds that:

   -- there is substantial and continuing losses to and diminution
      of the estate, and there is an absence of a reasonable
      likelihood of rehabilitation;

   -- the Debtor is and will be unable to effectuate substantial
      confirmation of a plan; and

   -- the Debtor is unable to provide the adequate protection to
      OneWest Bank to which it is entitled and without the
      property securing the debt to OneWest there is no reasonable
      prospect of rehabilitation or a confirmed plan.

Bozeman, Montana-based Black Bull Run Development LLC, filed for
Chapter 11 bankruptcy protection on March 26, 2010 (Bankr. D.
Mont. Case No. 10-60593).  James A. Patten, Esq., who has an
office in Billings, Montana, assists the Company in its
restructuring effort.  According to the schedules, the Company has
assets of $16,317,641, and total debts of $42,764,571.


BOESER INC: Can Access Lenders' Cash Collateral Until August 31
---------------------------------------------------------------
The Hon. Gregory F. Kishel of the U.S. Bankruptcy Court for the
District of Minnesota authorized Boeser, Inc., to access the cash
collateral of Anchor Bank and First Business Credit Corporation
until August 31, 2010.

As adequate protection of the interests of FBCC and Anchor Bank in
cash collateral, the Debtor will continue to be subject to all of
the obligations of performance, including the payment obligations.

As further adequate protection, the Debtor's use of cash
collateral will be governed by the limitations and requirements of
the stipulation of April 15, 2010.

If the aggregate amount of the Debtor's sales in any calendar
month during the term of this order is less than 90% of the amount
projected by the Debtor, FBCC or Anchor Bank may set on a motion
for review of the terms of this order.

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


BOESER INC: Plan Provides Payment of Unsecured Claims in 60 Months
------------------------------------------------------------------
The Hon. Gregory F. Kishel of the U.S. Bankruptcy Court for the
District of Minnesota will consider on August 19, 2010, at
1:30 p.m., approval of a Disclosure Statement explaining Boeser,
Inc.'s Plan of Reorganization.  The hearing will be held at
Courtroom 2A, U.S. Courthouse, 316 N Robert St, St. Paul,
Minnesota.  Objections, if any, are due seven days prior to the
hearing.

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

According to the Disclosure Statement, the Debtor will treat
claims as:

Class A Secured Claim - Anchor Bank: Real Estate $1,200,000.  The
        Debtor will pay Anchor Bank $600,000 from the sale of part
        of the Boeser building.  The Debtor will pay Anchor the
        balance of $600,000 over the next 20 years in monthly
        installments of $4,298 commencing October 1.  The full
        amount of the loan will come due on September 30, 2013.

Class B Secured Claim - Anchor Bank: Equipment $74,000.  The
        Debtor's will pay this debt in full on September 1 from
        the sale of 20% of the Debtor's building.

Class C Secured Claim - Anchor Bank: Equipment $32,000.  The
        Debtor will pay this debt in full on September 1 from the
        sale of Debtor's building.

Class D Secured Claim - Small Business Association $881,000.
        The Debtor will pay down the obligation of $300,000 on
        September 1 from the sale of part of the building.  The
        Debtor will pay SBA the $600,000 over the next 20 years in
        monthly installments of $4,298 commencing October 1.  The
        full amount of the loan will come due on September 30,
        2013.  The loan will carry an interest rate of 6%.

Class E Secured Claim of Wells Fargo of $64,690.  The Debtor
        commenced making payments pursuant to a postpetition
        stipulation of $4,820 per month.  Wells Fargo will retain
        its lien rights as they were prior to filing.

Class F Secured Claim of Catholic Aid Association of $95,000.
        The Debtor paid interest only and will continue to do the
        same on the obligation.  The interest only is based on 5%
        interest.  Catholic Aid Association will retain its lien
        rights.

Class G Secured Claim of First Business Capital Corporation. Since
        the approval of the cash collateral motion on April 5,
        FBCC has been receiving payments of $45,000 per month from
        the Debtor. FBCC will be paid $800,000.  The payment of
        the debt will be in the form of a promissory note with a
        rate of interest of 8% per annum payable over 10 years
        with the first payment due September 1.  The monthly
        payments will be $9,706.  The loan will be paid in full on
        October 1, 2013.  With the payment of said monies FBCC
        will retain its security interest and mortgage as it
        currently stands.

Class H Secured Claim of Chase Auto Lending of $13,625. The
        Debtor makes monthly payments of $542 and has
        approximately 28 more monthly payments.  Chase will retain
        its first lien position on the Jetta TDI.

Class I Unsecured Claims of $450,000.  The Plan proposal is to pay
        Unsecured Creditors in this Class as:

        1) The Debtor will pay $6,000 per month for 60 months to
           the allowed unsecured claimants.  The first payment
           will be due on December 1.

        2) As an administrative convenience claim, the Debtor will
           pay any allowed unsecured claimant up to 50% of its
           claim, up to $1,000, on January 1, 2011.

        3) The payments will be in full, complete and total
           settlement of the claims of unsecured creditors of the
           Class I.

Class J Shareholder Interests.  Larry Boeser will retain his
        ownership interest in the Debtor.

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

                          About Boeser Inc.

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


BRIDGEVIEW AEROSOL: Has Until July 30 to Propose Chapter 11 Plan
----------------------------------------------------------------
The Hon. Pamela S. Hollis of the U.S. Bankruptcy Court for
Northern District of Illinois extended Bridgeview Aerosol, LLC, et
al.'s exclusive periods to file and solicit acceptances for the
proposed Chapter 11 Plan until July 30, 2010, and September 29,
respectively.

Wells Fargo Bank, N.A., and the Official Committee of Unsecured
Creditors consented to the extension of the exclusive periods.

                     About Bridgeview Aerosol

Bridgeview, Illinois-based Bridgeview Aerosol, LLC is in the
custom aerosol specialty products industry.  BVA provides a wide
array of services relating to aerosol products including initial
product formulation, testing, manufacturing, packaging and
distribution.  BVA primarily manufactures, packages and
distributes household cleaning and automotive products.  Affiliate
AeroNuevo owns the real property on which BVA operates.
USAerosols is the parent company of BVA and AeroNuevo.

Bridgeview Aerosol filed for Chapter 11 bankruptcy protection on
October 30, 2009 (Bankr. N.D. Ill. Case No. 09-41021).  Steven B.
Towbin, Esq., at Shaw Gussis et al assists the Company in its
restructuring efforts.  The Company listed $10,000,001 to
$50,000,000 in assets and $10,000,001 to $50,000,000 in
liabilities.


BROWN JORDAN: Moody's Assigns 'B3' Rating on $65 Mil. Loan
----------------------------------------------------------
Moody's Investors Service assigned a B3 rating to Brown Jordan
International, Inc.'s proposed $65 million senior secured term
loan.  At the same time, Moody's raised the company's Probability
of Default Rating to B2 from B3, and revised the ratings outlook
to stable from negative.  The company's B2 Corporate Family Rating
was affirmed.  The ratings are subject to the receipt and review
of final documentation upon closing of a proposed refinancing
transaction.

Proceeds from the proposed term loan, along with balance sheet
cash, will be used to refinance the company's existing first and
second lien term loans and pay fees and expenses related to the
transaction.  The term loan will be secured by a first lien on the
company's property, plant and equipment and intangible assets, and
a second lien on the collateral securing the company's proposed
new $50 million asset-based revolving credit facility (not rated
by Moody's), which includes accounts receivable, inventory and
cash.

Brown Jordan's B2 Corporate Family Rating reflects the company's
small size, limited diversity, and the highly discretionary nature
of its products.  The current economic uncertainty and weak
discretionary consumer spending also constrain the rating.  The
rating is supported by the company's position as one of the
leading outdoor furniture companies in North America, well-known
brands and established customer relationships, as well as
distribution breadth and strength.  Management's focus on reducing
costs and improving efficiencies have contributed to fairly stable
margins and solid credit metrics for the rating despite the
significant revenue decline in 2009.  Brown Jordan's liquidity is
expected to remain adequate, supported by balance sheet cash and
the expectation for positive, yet highly seasonal, free cash flow
generation, revolver availability and ample cushion under proposed
financial covenants.

The stable outlook assumes that the proposed refinancing closes
with terms remaining as proposed.  The outlook also reflects the
expectation that the company's credit metrics will remain solid
for the rating, with some cushion for adverse fluctuations in this
uncertain economic environment, and that liquidity will remain
adequate.  Material declines in operating performance, credit
metrics or liquidity could lead to downward pressure on the
ratings, as could failure to complete the refinancing transaction,
as cushion under the existing leverage covenant is modest.

Rating assigned:

* Senior Secured Term Loan due 2014 at B3 (LGD5, 72%)

Ratings affirmed:

* Corporate Family Rating at B2

Rating raised:

* Probability of Default Rating to B2 from B3

Ratings affirmed, to be withdrawn upon completion of the proposed
refinancing transaction:

* Senior Secured Revolving Credit Facility at Ba3 (LGD2, 17%).
* Senior Secured Term Loan at B2 (LGD3, 35%).
* Senior Secured Second Lien Loan at Caa1 (LGD4, 65%).

The ratings outlook is stable.

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

Brown Jordan is a designer, manufacturer and marketer of outdoor
retail and contract furnishings with brand names that include
Brown Jordan, Winston, Wabash, Charter and La-Z-Boy, among others.
Revenue for the twelve months ended April 2, 2010, was
$243 million.


CALYPTE BIOMEDICAL: Inks Restructuring Agreement With Marr Tech
---------------------------------------------------------------
Calypte Biomedical Corporation has entered into a series of
agreements providing for:

    i) the restructuring its outstanding indebtedness to Marr
       Technologies B.V. and SF Capital Partners Limited and

   ii) transfer of its interests in two Chinese joint ventures
       with Marr affiliates to Kangplus (China) Holdings Ltd.

The Joint Ventures consist of Beijing Marr Bio-Pharmaceuticals
Co., Ltd., in which the company holds a 51% equity and Marr
Technologies Asia Limited holds a 49% equity interest, and Beijing
Calypte Biomedical Technology Ltd., in which the company holds a
51% equity and Marr Technologies Limited holds a 49% equity
interest.  Marr and SF Capital are principal stockholders of the
company.  As of December 31, 2009, based on their most recent
Schedule 13D or 13G filings Marr and SF Capital were the
beneficial owners of approximately 18.8% and 5.2%, respectively,
of the company's Common Stock.

                 Agreements with Marr and Kangplus

On July 2, 2010, the company entered into a Debt Agreement with
Marr, MTL and MTAL and an Equity Transfer Agreement with MTAL and
Kangplus.  Under the Debt Agreement, $6,393,353.11 in outstanding
indebtedness will be converted to 152,341,741 shares of common
stock of the company. The Company's remaining indebtedness to
Marr, totaling $3,000,000 as of December 31, 2009, will be
cancelled.  In consideration for such debt restructuring, the
company will, pursuant to the Equity Transfer Agreement, transfer
its equity interests in each of the Joint Ventures to Kangplus and
transfer certain related technology to Beijing Marr.

Under the Equity Transfer Agreement, the company will transfer its
51% interest in Beijing Marr to Kangplus, and MTAL will transfer
an additional 19% interest in Beijing Marr, retaining a 30%
interest going forward.  The company has also agreed to transfer
certain technology to Beijing Marr and provide training and
support with respect to that technology, as discussed below.
In consideration of these transfers of equity interests and
technology, Kangplus has agreed to pay approximately $1.48 million
to MTAL and invest approximately $1.625 million directly in
Beijing Marr.

The company agreed to grant to Beijing Marr an exclusive license
to manufacture and sell the Company's Aware HIV 1/2 rapid tests in
the People's Republic of China and will provide training and
technical support to Beijing Marr over the next 12 months to
enable it to engage in independent research and development and
production of Licensed Products.  In addition, the company granted
Kangplus a right of first refusal with respect to any joint
ventures or other business arrangements the company may seek to
enter into with respect to the Licensed Products in the PRC, Hong
Kong, Macau or Taiwan.  The Equity Transfer Agreement restricts
the company from competing with Beijing Marr in the PRC for a
period of six years.

The transactions contemplated by the Debt Agreement and the Equity
Transfer Agreement are subject to Chinese government registration
of the transfer of Beijing Marr equity interests to Kangplus as
contemplated by the Equity Transfer Agreement.

                     Agreement with SF Capital

On July 9, 2010, the company entered into a Debt Conversion
Agreement with SF Capital providing for the conversion of the
outstanding balance under a secured 8% convertible note held by SF
Capital.  Under the Conversion Agreement, the balance due under
the Note will be converted to 47,815,698 shares of common stock of
the company.  In the event the company proposes to sell shares of
its Common Stock for a purchase price of less than $0.03 per
share, SF Capital will be entitled to a right of first refusal to
purchase a portion of such shares, upon the offered terms, that
reflects SF Capital's then-current percent ownership of the
Company's outstanding common stock.  This right of first refusal
is subject to customary exclusions, including shares issued to
employees and consultants pursuant to equity incentive plans,
shares issued to lenders, lessors or landlords, and shares issued
in acquisitions of other businesses.

                     About Calypte Biomedical

Portland, Ore.-based Calypte Biomedical Corporation develops,
manufactures, and distributes in vitro diagnostic tests, primarily
for the diagnosis of Human Immunodeficiency Virus infection.

Odenberg, Ullakko, Muranishi & Co. LLP, in San Francisco,
has expressed substantial doubt about the Company's ability to
continue as a going concern.  The independent auditors noted that
the Company has defaulted on $6.3 million of 8% Convertible
Promissory Notes and related Interest Notes and $5.2 million of 7%
Promissory Notes, has suffered recurring operating losses and
negative cash flows from operations, and management believes that
the Company's cash resources will not be sufficient to sustain its
operations through 2010 without additional financing.


CFRI/GREENLAW DYER: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: CFRI/Greenlaw Dyer Road, LLC
        2001 East Dyer Road
        Santa Ana, CA 92705

Bankruptcy Case No.: 10-19345

Chapter 11 Petition Date: July 8, 2010

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

Judge: Theodor Albert

Debtor's Counsel: David B. Shemano, Esq.
                  10100 Santa Monica Blvd Ste 1450
                  Los Angeles, CA 90067
                  Tel: (310) 552-3100
                  E-mail: dshemano@pwkllp.com

Scheduled Assets: $30,101,904

Scheduled Debts: $33,610,022

The petition was signed by Timothy M. Shine, authorized
representative of Debtor.

Debtor's List of 20 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Thomson Reuters Inc       Professional           $30,761
39669 Treasury            Services
Center Blvd
Chicago, IL 60694-3300
Tel: (800) 327-8829

Law Office of             Legal Services         $1,406
Thia M. Cochran
4440 Von Karman Avenue,
Suite 150
Newport Beach, CA 92660

Revenue Enhancement       Vendor                 $849
Group
Attn: Niki Van Houtte
530 S Main Street. Suite 105
Orange, CA 92868
Tel: (717) 543-4460

4 Pals Plumbing and Fire  Vendor                 Unknown
Protection

Able Building             Vendor                 Unknown
Maintenance Co.

Apelinc Landscape         Vendor                 Unknown
Services Inc.

AT&T Corporation          Utility                Unknown

Beach West Plumbing Inc.  Vendor                 Unknown

Cal Protection Fire       Vendor                 Unknown
Safety Services

City of Santa Ana         Utility                Unknown

Comet Lighting &          Vendor                 Unknown
Electric Inc

ECBM Holding Inc          Vendor                 Unknown
dba C&M

High Rise Glass &         Vendor                 Unknown
Door Inc

Home Depot Credit         Vendor                 Unknown
Services

Owens Electric            Vendor                 Unknown

Preferred Paving          Vendor                 Unknown

Prime Building Inc.       Vendor                 Unknown

Quality Commercial        Vendor                 Unknown
Pest Control

R O Agency                Vendor                 Unknown

Regency Lighting          Vendor                 Unknown


CHAD ANGELL: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Chad Angell
        fdba Angell Contracting and Construction, Inc.
        fdba Angell Restoration Services, Inc.
        fdba Creative Carpentry, Inc.
        10201 Lake Grove Drive
        Odessa, FL 33556-2504

Bankruptcy Case No.: 10-16351

Chapter 11 Petition Date: July 8, 2010

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

Debtor's Counsel: Amy Denton Harris, Esq.
                  Stichter, Riedel, Blain & Prosser, P.A.
                  110 E Madison Street, Suite 200
                  Tampa, FL 33602-4700
                  Tel: (813) 229-0144
                  Fax: (813) 229-1811
                  E-mail: aharris.ecf@srbp.com

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

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

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

The petition was signed by Mr. Angell.


CHARMING SHOPPES: S&P Gives Positive Outlook, Affirms 'B-' Rating
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its rating
outlook on Bensalem, Pa.-based specialty apparel retailer Charming
Shoppes Inc. to positive from stable.  At the same time, S&P
affirmed the 'B-' corporate credit rating on the company.

Standard & Poor's also raised the issue-specific rating on
Charming Shoppes' convertible note to 'B-' from 'CCC+' and revised
the recovery rating on the debt to '4' from '5', reflecting S&P's
expectation for average (30%-50%) recovery in the event of payment
default.  The recovery rating revision is due to debt repayment
and a smaller revolving credit facility enhancing recovery
prospects for the convertible note.

"The ratings on Charming Shoppes reflect the company's aggressive
financial profile and its vulnerable business risk profile," said
Standard & Poor's credit analyst Jackie E. Oberoi, "given its
participation in the highly competitive and volatile specialty
apparel industry."  Cash-flow protection measures improved in 2009
from the prior year due to improved margins and debt reduction.
Funds from operations to total debt increased to 34% in 2009, from
25% a year earlier; the current level is in line with historical
levels.  Charming Shoppes' leverage improved to 7.6x for the 12
months ended May 1, 2010, after being at about 10.0x at the end of
fiscal 2009.

"S&P expects some additional improvement in these metrics at year-
end," added Ms. Oberoi, "despite expected soft top-line sales
because of improved inventory levels and less promotional
activity, which should lead to improved margins."


COTT CORP: S&P Affirms Long-Term Corporate Credit Rating at 'B'
---------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B' long-
term corporate credit rating on Mississauga, Ont.-based Cott Corp.
The outlook is stable.

"S&P base the affirmation on its analysis of the announced
definitive agreement by which Cott will acquire privately held
Dunkirk, N.Y.-based Cliffstar Corp., the leading private label
manufacturer of shelf stable juices, for US$569 million," said
Standard & Poor's credit analyst Lori Harris.

At the same time, S&P placed its 'B' debt rating on Cott's wholly
owned U.S. subsidiary Cott Beverages Inc.'s senior unsecured debt
on CreditWatch with negative implications.

"The CreditWatch placement reflects S&P's possible lowering of the
rating on the company's senior unsecured debt depending on the
ultimate capital structure at the close of the transaction,
including the amount of priority debt ahead of the proposed total
senior unsecured debt," Ms. Harris added.  S&P will resolve the
CreditWatch placement following S&P's analysis of the proposed
capital structure based on draft terms and conditions of the debt.

The US$569 million purchase price comprises US$500 million cash
due at closing; up to US$55 million based on the achievement of
certain performance measures in 2011, as well as the successful
completion of expansion projects in 2010; and US$14 million of
deferred consideration to be paid over three years.  S&P expects
the US$500 million to be financed with up to US$375 million in new
senior unsecured notes, as well as the issuance of common equity
and a drawdown of the revolving credit facility.  Closing is
expected within the next few months upon certain approvals and
financing.

The ratings on Cott reflect what Standard & Poor's considers the
company's vulnerable business risk profile stemming from customer
concentration, its small size in a sector dominated by companies
with substantially greater financial resources and market
presence, and integration risks related to the acquisition of
Cliffstar.  In addition, a significant reduction in business with
its key customer Wal-Mart Stores Inc. (AA/Stable/A-1+) could
result in a material weakening of credit protection measures.

S&P believes these factors are partially offset by Cott's improved
operating performance, broader product offering and good market
position in shelf stable juices with the addition of Cliffstar,
and solid market position as the leading private label
manufacturer and marketer of take-home carbonated soft drinks in
the U.S., the U.K., and Canada.  The acquisition of Cliffstar
gives Cott an immediate entrance into the North American shelf
stable juice industry, while providing for some cost-saving
opportunities.

The stable outlook reflects Standard & Poor's expectation that
Cott will sustain the improvement in its operating performance,
that Cliffstar will be successfully integrated, and that credit
ratios will remain in line with S&P's expectations in the medium
term.  S&P could consider raising the ratings if Cott is able to
demonstrate continued strengthening of its operating performance
despite the potential for increased competitive activity or a
decline in its business with Wal-Mart.  Alternatively, S&P could
lower the ratings if the company's operating performance falls
below S&P's expectations or if Cott's financial flexibility
weakens.


CHEMTURA CANADA: To Follow Parent in Chapter 11, CCAA Protection
----------------------------------------------------------------
Chemtura Corporation said that in connection with its revised
Chapter 11 plan of reorganization, a Canadian subsidiary is filing
for Chapter 11.

According to a statement by Chemtura Corp., "One of the
significant provisions of the Plan and related Disclosure
Statement is the conclusion that, in order to resolve certain
asserted diacetyl liabilities, Chemtura's Canadian subsidiary,
Chemtura Canada Co./Cie, intends to file for protection along with
the current U.S. Debtors under Chapter 11 of the Bankruptcy Code,
together with a recognition proceeding in Canada under the
Companies' Creditors Arrangement Act."

The Company expects Chemtura Canada's Chapter 11 and CCAA
proceedings to be brief and that Chemtura Canada will emerge at
the same time as Chemtura's U.S. operations.  Through this action,
Chemtura expects to extend to Chemtura Canada the protection from
and treatment of certain asserted diacetyl liabilities at the same
time as Chemtura resolves certain of its diacetyl liabilities
already being addressed in its U.S. reorganization.

BioLab Canada and the Company's other non-U.S. operations will not
be subject to the requirements of the U.S. Bankruptcy Code or
CCAA.  Chemtura's U.S., Canadian and worldwide operations are
continuing as normal and will continue as normal after the
commencement of Chemtura Canada's reorganization.

Under the terms of the Plan and motions to be presented to the
Court at the outset of Chemtura Canada's Chapter 11 filing, all
creditors of Chemtura Canada, other than holders of diacetyl
claims, including employees and suppliers, will receive payment
for all pre-filing claims in full.  Post-filing claims also will
be paid in full, in cash, according to normal terms as they come
due. Chemtura Canada will seek express Court orders to help ensure
the continuation of normal operations and trade practices,
including paying vendor claims, employee wages, salaries and
related benefits, and honoring all current customer policies and
programs, in the ordinary course of business.

"The filing of our revised Plan and Disclosure Statement
represents further progress in our restructuring and another step
toward emerging in the coming months," said Craig A. Rogerson,
Chemtura's Chairman, President and Chief Executive Officer.  "We
determined, with the support of our major constituents, that a
court-supervised process for Chemtura Canada on an accelerated
basis is the fastest and most effective way to resolve certain
asserted diacetyl liabilities in Canada, while ensuring that all
of Chemtura Canada's other secured and unsecured claims are paid
in full and in cash according to their normal terms.  We are
confident that we are taking the appropriate steps to expedite the
Company's emergence and to position Chemtura as a financially
strong competitor in the specialty chemicals industry."

Mr. Rogerson added, "Throughout this process, Chemtura has
maintained its focus on enhancing all aspects of our customers'
experience to drive growth and long-term value creation.  We thank
our customers, employees and suppliers for their continued support
and we look forward to continuing to meet our customers' needs as
we proceed towards emergence."

The Court has scheduled a hearing to consider approval of the
Disclosure Statement on July 21, 2010.  In the event the
Disclosure Statement is approved by the Court on July 21, 2010,
the Company expects to pursue Court approval of the Plan for
Chemtura Canada at the same time as with respect to the U.S.
Debtors. Chemtura remains on track to emerge from Chapter 11
protection in the coming months.

Chemtura's revised Plan and Disclosure Statement are available
free of charge at www.kccllc.net/chemtura.  Additionally, Chemtura
has established a toll-free Restructuring Information Hotline for
interested parties, in the United States at 866-967-0261 or
internationally at 310-751-2661.

The Disclosure Statement is subject to approval by the Court, and
the Amended Plan is subject to confirmation by the Court. This
press release is not intended as a solicitation for a vote on the
Plan within the meaning of section 1125 of the Bankruptcy Code.

                    About Chemtura Corp.

Based in Middlebury, Connecticut, Chemtura Corporation (CEM) --
http://www.chemtura.com/-- with 2008 sales of $3.5 billion, is a
global manufacturer and marketer of specialty chemicals, crop
protection products, and pool, spa and home care products.
Chemtura Corporation and 26 of its U.S. affiliates filed voluntary
petitions for relief under Chapter 11 on March 18, 2009 (Bankr.
S.D.N.Y. Case No. 09-11233).  M. Natasha Labovitz, Esq., at
Kirkland & Ellis LLP, in New York, serves as bankruptcy counsel.
Wolfblock LLP serves as the Debtors' special counsel.  The
Debtors' auditors and accountant are KPMG LLP; their investment
bankers are Lazard Freres & Co.; their strategic communications
advisors are Joele Frank, Wilkinson Brimmer Katcher; their
business advisors are Alvarez & Marsal LLC and Ray Dombrowski
serves as their chief restructuring officer; and their claims and
noticing agent is Kurtzman Carson Consultants LLC. As of

December 31, 2008, the Debtors had total assets of $3.06 billion
and total debts of $1.02 billion.  Bankruptcy Creditors' Service,
Inc., publishes Chemtura Bankruptcy News.  The newsletter tracks
the Chapter 11 proceedings undertaken by Chemtura Corp. and its
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


CHEMTURA CORP: Revised Plan Offers 100% Recovery for All Creditors
------------------------------------------------------------------
Chemtura Corporation and 26 of its U.S. affiliates have filed a
revised Plan of Reorganization and related Disclosure Statement
with the United States Bankruptcy Court for the Southern District
of New York.  The Plan and Disclosure Statement, like the previous
versions filed on June 17, 2010, were filed with the support of
the Company's official committee of unsecured creditors and the ad
hoc committee of the Company's bondholders.  As with the June 17
version of the Plan, Chemtura continues to provide the potential
to satisfy all creditors' claims in full, as well as offering
value to equity holders.

One of the significant provisions of the Plan and related
Disclosure Statement is the conclusion that, in order to resolve
certain asserted diacetyl liabilities, Chemtura's Canadian
subsidiary, Chemtura Canada Co./Cie, intends to file for
protection along with the current U.S. Debtors under Chapter 11 of
the Bankruptcy Code, together with a recognition proceeding in
Canada under the Companies' Creditors Arrangement Act.  The
Company expects Chemtura Canada's Chapter 11 and CCAA proceedings
to be brief and that Chemtura Canada will emerge at the same time
as Chemtura's U.S. operations.  Through this action, Chemtura
expects to extend to Chemtura Canada the protection from and
treatment of certain asserted diacetyl liabilities at the same
time as Chemtura resolves certain of its diacetyl liabilities
already being addressed in its U.S. reorganization.  BioLab Canada
and the Company's other non-U.S. operations will not be subject to
the requirements of the U.S. Bankruptcy Code or CCAA.  Chemtura's
U.S., Canadian and worldwide operations are continuing as normal
and will continue as normal after the commencement of Chemtura
Canada's reorganization.

Under the terms of the Plan and motions to be presented to the
Court at the outset of Chemtura Canada's Chapter 11 filing, all
creditors of Chemtura Canada, other than holders of diacetyl
claims, including employees and suppliers, will receive payment
for all pre-filing claims in full.  Post-filing claims also will
be paid in full, in cash, according to normal terms as they come
due. Chemtura Canada will seek express Court orders to help ensure
the continuation of normal operations and trade practices,
including paying vendor claims, employee wages, salaries and
related benefits, and honoring all current customer policies and
programs, in the ordinary course of business.

"The filing of our revised Plan and Disclosure Statement
represents further progress in our restructuring and another step
toward emerging in the coming months," said Craig A. Rogerson,
Chemtura's Chairman, President and Chief Executive Officer.  "We
determined, with the support of our major constituents, that a
court-supervised process for Chemtura Canada on an accelerated
basis is the fastest and most effective way to resolve certain
asserted diacetyl liabilities in Canada, while ensuring that all
of Chemtura Canada's other secured and unsecured claims are paid
in full and in cash according to their normal terms.  We are
confident that we are taking the appropriate steps to expedite the
Company's emergence and to position Chemtura as a financially
strong competitor in the specialty chemicals industry."

Mr. Rogerson added, "Throughout this process, Chemtura has
maintained its focus on enhancing all aspects of our customers'
experience to drive growth and long-term value creation.  We thank
our customers, employees and suppliers for their continued support
and we look forward to continuing to meet our customers' needs as
we proceed towards emergence."

The Court has scheduled a hearing to consider approval of the
Disclosure Statement on July 21, 2010.  In the event the
Disclosure Statement is approved by the Court on July 21, 2010,
the Company expects to pursue Court approval of the Plan for
Chemtura Canada at the same time as with respect to the U.S.
Debtors. Chemtura remains on track to emerge from Chapter 11
protection in the coming months.

Chemtura's revised Plan and Disclosure Statement are available
free of charge at www.kccllc.net/chemtura.  Additionally, Chemtura
has established a toll-free Restructuring Information Hotline for
interested parties, in the United States at 866-967-0261 or
internationally at 310-751-2661.

The Disclosure Statement is subject to approval by the Court, and
the Amended Plan is subject to confirmation by the Court. This
press release is not intended as a solicitation for a vote on the
Plan within the meaning of section 1125 of the Bankruptcy Code.

                    About Chemtura Corp.

Based in Middlebury, Connecticut, Chemtura Corporation (CEM) --
http://www.chemtura.com/-- with 2008 sales of $3.5 billion, is a
global manufacturer and marketer of specialty chemicals, crop
protection products, and pool, spa and home care products.
Chemtura Corporation and 26 of its U.S. affiliates filed voluntary
petitions for relief under Chapter 11 on March 18, 2009 (Bankr.
S.D.N.Y. Case No. 09-11233).  M. Natasha Labovitz, Esq., at
Kirkland & Ellis LLP, in New York, serves as bankruptcy counsel.
Wolfblock LLP serves as the Debtors' special counsel.  The
Debtors' auditors and accountant are KPMG LLP; their investment
bankers are Lazard Freres & Co.; their strategic communications
advisors are Joele Frank, Wilkinson Brimmer Katcher; their
business advisors are Alvarez & Marsal LLC and Ray Dombrowski
serves as their chief restructuring officer; and their claims and
noticing agent is Kurtzman Carson Consultants LLC. As of

December 31, 2008, the Debtors had total assets of $3.06 billion
and total debts of $1.02 billion.  Bankruptcy Creditors' Service,
Inc., publishes Chemtura Bankruptcy News.  The newsletter tracks
the Chapter 11 proceedings undertaken by Chemtura Corp. and its
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


CHRISTOPHER HALTER: Case Summary & 15 Largest Unsecured Creditors
-----------------------------------------------------------------
Joint Debtors: Christopher R. Halter
               Keri A. Halter
               14158 Pleasant Point Lane
               Jacksonville, FL 32225

Bankruptcy Case No.: 10-05903

Chapter 11 Petition Date: July 8, 2010

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

Judge: Paul M. Glenn

Debtor's Counsel: Bryan K. Mickler, Esq.
                  5452 Arlington Expressway
                  Jacksonville, FL 32211
                  Tel: (904) 725-0822
                  Fax: (904) 725-0855
                  E-mail: court@planlaw.com

Scheduled Assets: $743,930

Scheduled Debts: $1,117,136

A list of the Joint Debtors' 15 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flmb10-05903.pdf

The petition was signed by the Joint Debtors.


CHRISTOPHER SCINTO: Case Summary & 10 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Christopher Jon Scinto
          aka Chris Scinto
              Christopher J. Scinto
              Christopher Scinto
        41 Old Castle Road
        Westlake Village, CA 91361

Bankruptcy Case No.: 10-18265

Chapter 11 Petition Date: July 8, 2010

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

Judge: Geraldine Mund

Debtor's Counsel: James S. Yan, Esq.
                  980 S Arroyo Parkway, Suite 250
                  Pasadena, CA 91105
                  Tel: (626) 405-0872
                  Fax: (626) 405-0970
                  E-mail: jsyan@msn.com

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

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

According to the schedules, the Debtor says that assets total
$524,652 while debts total $4,972,387.

A copy of the Debtor's list of 10 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/cacb10-18265.pdf

The petition was signed by the Debtor.


CHRISTOPHER WEIK: Case Summary & 7 Largest Unsecured Creditors
--------------------------------------------------------------
Joint Debtors: Christopher James Weik
               Deanna Espena Weik
               1045 Church Street
               Ventura, CA 93001

Bankruptcy Case No.: 10-13499

Chapter 11 Petition Date: July 8, 2010

Court: U.S. Bankruptcy Court
       Central District of California (Santa Barbara)

Judge: Robin Riblet

Debtor's Counsel: David S. Quintana, Esq.
                  300 Esplanade Drive, Suite 1180
                  Oxnard, CA 93036
                  Tel: (805) 485-5535
                  E-mail: dmsq@adelphia.net

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

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

According to the schedules, the Debtors say that assets total
$3,274,667 while debts total $4,065,124

A copy of the Joint Debtors' list of 7 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/cacb10-13499.pdf

The petition was signed by the Joint Debtors.


CHUNYI AN: Case Summary & 16 Largest Unsecured Creditors
--------------------------------------------------------
Joint Debtors: Chunyi An
                 dba Indiana 99cent Store
               Steve Kwangsok An
                 aka Kawngsok An
               4518 Lasheart Drive
               La Canada Flintridge, CA 91011

Bankruptcy Case No.: 10-38053

Chapter 11 Petition Date: July 8, 2010

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

Judge: Alan M. Ahart

Debtor's Counsel: Anthony Egbase, Esq.
                  Law Offices of Anthony O Egbase & Assoc
                  350 S Figueroa Street, Suite 189
                  Los Angeles, CA 90071
                  Tel: (213) 620-7070
                  E-mail: info@anthonyegbaselaw.com

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

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

According to the schedules, the Debtors say that assets total
$2,404,340 while debts total $3,667,619.

A copy of the Joint Debtors' list of 16 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/cacb10-38053.pdf

The petition was signed by the Joint Debtors.


CITIGROUP INC: NY Court Allows Bondholders' Suit Over CDOs
----------------------------------------------------------
Dow Jones Newswires' Chad Bray reports that U.S. District Judge
Sidney Stein in Manhattan on Monday allowed a consolidated lawsuit
by bondholders to proceed against Citigroup Inc.

Dow Jones says the bondholders claim the New York bank failed to
disclose its exposure to $66 billion worth of collateralized debt
obligations backed by subprime mortgages, as well as other "toxic"
mortgage-backed assets.  The bondholders purchased Citigroup bonds
in a series of offerings between May 2006 and August 2008, in
which the bank raised more than $71 billion.  The bank's bonds
plummeted in value when the bank's true exposure was disclosed in
November 2008, the bondholders claim.

According to Dow Jones, the lawsuit was brought by a group of
public pension funds on behalf of purchasers of Citigroup bonds.
The defendants include Citigroup Chief Executive Vikram Pandit, as
well as dozens of underwriters of the bonds.

The report relates Judge Stein:

     -- held that the bondholders had standing to bring some of
        their claims regarding the bank's CDO exposure, saying in
        part that 48 bond offerings by the bank during that period
        used the same three registration statements; and

     -- dismissed some claims related to the company's statements
        regarding its exposure to $100 billion in structured
        investment vehicles backed by subprime mortgages and
        $11 billion in auction-rate securities, which bondholders
        claim were illiquid.

"We are pleased that some claims were dismissed, and will
vigorously defend the remaining claims on the merits," a Citigroup
spokeswoman said in a statement, according to Dow Jones.

                         About Citigroup

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

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

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

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


CLIFTON STAR: Posts C$7.1 Million Net Loss in Q3 Ended March 31
---------------------------------------------------------------
Clifton Star Resources, Inc., reported a net loss of C$7.1 million
for the three month period ended March 31, 2010, compared with a
net loss of C$531,060 for the comparable period ended March 31,
2009.

At March 31, 2010, the Company's balance sheets showed total
assets of C$26.9 million, total liabilities of $2.1 million, and
shareholders' equity of $24.8 million.

The Company has incurred losses since inception and the ability of
the Company to continue as a going concern depends upon its
ability to develop profitable operations and to continue to raise
adequate financing.

"There can be no assurance that the Company will be able to
continue to raise funds, in which case the Company may be unable
to meet its obligations."

A copy of the Company's unaudited interim financial statements for
the three month period ended March 31, 2010, is available for free
at http://researcharchives.com/t/s?6648

A discussion and analysis of the Company's financial statements
for the three month period ended March 31, 2010, is available for
free at http://researcharchives.com/t/s?6649

                        About Clifton Star

Based in Vancouver, British Columbia, Canada, Clifton Star
Resources, Inc. (TSX-V: CFO)(Frankfurt: C3T)
-- http://www.cliftonstarresources.com/-- is primarily engaged in
the acquisition and exploration of mineral properties in Canada.


CREEKHILL REALTY: Case Summary & 5 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Creekhill Realty, LLC
        718 Atlantic Avenue
        Brooklyn, NY 11217

Bankruptcy Case No.: 10-46420

Chapter 11 Petition Date: July 8, 2010

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Jerome Feller

Debtor's Counsel: Eric Abakporo, Esq.
                  60 4th Avenue
                  Brooklyn, NY 11217
                  Tel: (718) 222-0043

Scheduled Assets: $5,900,000

Scheduled Debts: $4,680,000

A list of the Company's 5 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nyeb10-46420.pdf

The petition was signed by Latanya Pierce, president.


CROWDGATHER INC: Recurring Losses Cue Going Concern Doubt
---------------------------------------------------------
Crowdgather, Inc., filed on July 7, 2010, its annual report on
Form 10-K for the year ended April 30, 2010.

Q Accountancy Corporation, in Laguna Niguel, Calif., expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that the Company
has incurred recurring operating losses and has an accumulated
deficit.

Crowdgather, Inc., reported a net loss $3,429,694 on $309,781 of
revenue for the year ended April 30, 2010, compared with a net
loss of $2,439,007 on $112,546 of revenue for the year ended
March 31, 2009.

The Company's balance sheet at April 30, 2010, showed $2,695,631
in assets, $207,697 of liabilities, and $2,487,934 of
stockholders' equity.

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

               http://researcharchives.com/t/s?6647

Woodland Hills, Calif.-based CrowdGather, Inc. (OTC BB: CRWG)
-- http://www.crowdgather.com/-- is an internet company that
specializes in developing and hosting forum based Web sites.


DAVID JENKINS: Voluntary Chapter 11 Case Summary
------------------------------------------------
Joint Debtors: David Scott Jenkins
               Melissa M. Jenkins
               2275 Burlingate Drive
               Memphis, TN 38016

Bankruptcy Case No.: 10-27159

Chapter 11 Petition Date: July 7, 2010

Court: U.S. Bankruptcy Court
       Western District of Tennessee (Memphis)

Judge: David S. Kennedy

Debtor's Counsel: Russell W. Savory, Esq.
                  88 Union Avenue, 14th Floor
                  Memphis, TN 38103
                  Tel: (901) 523-1110
                  E-mail: russell.savory@gwsblaw.com

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

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

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

The petition was signed by the Joint Debtors.


DEAN FOODS: Moody's Rates Amended Senior Bank Facilities at 'Ba3'
-----------------------------------------------------------------
Moody's rated Dean Food's amended and extended senior secured bank
credit facilities at Ba3 and raised the speculative grade
liquidity rating for Dean Foods to SGL-2 from SGL-3.  The
company's corporate family rating remains Ba3 with a stable
outlook.

The SGL rating upgrade reflects the signing of an amend and extend
to the credit facility which will give the company more room under
its Leverage Ratio covenant, pushes out and flattens the debt
maturity schedule and lowers near term amortization.  These moves
were necessary following a very weak first quarter which saw a 61%
drop in cash flow from continuing operations (from $185 million in
2009 to $71 million in 2010) and an increase in leverage to 4.43
times at the end of Q1 (as defined by credit agreements) as
compared with 4.16 times at the end of the year.  Moody's believes
that there would have been little or no cushion under the bank
leverage covenant under the credit facilities by year end 2010
absent this amendment given a scheduled covenant step down.  While
liquidity has improved for the medium term as a result of this
transaction, the new covenant cushion remains modest, and Moody's
is concerned about the margin pressure the company is experiencing
and its impact on cash profitability.  Moody's will be closely
observing quarterly results and could take negative action in the
future should the pricing environment remain unchanged and if cash
flows deteriorate further.

Using Moody's financial metrics, it is Moody's expectation that
the company will end the year with leverage somewhat over 5 times
compared with 4.9 times at the end of 2009.  While this is within
the acceptable range for the Ba3 rating, it is in contrast to an
expectation of some leverage improvement during the year.

The company is facing pressures on its profit margins in fluid
milk due to retailers using private label milk products to drive
retail traffic by selling it at little to no profit margin,
widening the pricing gap at retail between Dean's branded product
and store brand milk.  This is causing a mix shift from Dean's
more profitable branded business to a heavier demand for private
label milk for which it earns substantially lower margins.
Moreover, retailers are demanding price concessions from suppliers
like Dean for their private label supply, further squeezing the
private label margins.  "To the extent that the current retailer
behavior becomes a more sustained shift in favor of private label
milk sold at break-even prices, eroding the profit algorithm for
Dean more permanently, downward pressure on Dean's ratings would
ensue," said Linda Montag, Moody's SVP.

Dean's Ba3 rating and stable outlook are based on the company's
national market share and scale in the US Dairy industry, the
potential for further cost efficiencies/ productivity improvements
as management focuses on internal integration and streamlining of
operations, and its strong distribution network with comprehensive
refrigerated direct store delivery systems.  These positives are
offset by very narrow margins inherent in its largest, commodity-
oriented milk business, more limited product/geographic/ customer
diversification than certain other large global food and
agriculture firms, and the potential for both volatility in milk
prices as well as shifts in the pricing strategies of retailers to
erode profitability.  While the company can generally pass on
increases in the underlying price of raw milk monthly, the
volatility of all of its inputs has swung much more widely in
recent years than in past history and the company has faced a
profit reducing mix shift away from branded and into private label
milk.  The difficult pricing environment is somewhat out of the
company's control and cost cutting efforts may not be enough to
compensate for the significant erosion in selling margins.  It is
not clear if and for how long the competitive pricing strategies
at retail will remain in place and whether the shift to less
profitable private label business will be permanent.  There is
also still a lot of progress to be made in the areas of cost
cutting and integration.  Margins, having improved during 2009,
slipped again to the low single digit range in the in the first
quarter.

These facilities were rated as part of the amend and extend
transaction (extended portions only):

* Senior Secured Revolver: $1.275 billion extended to April, 2
  1014 at Ba3; LGD3, 42%

* Senior Secured Term Loan A: $1.102 billion extended to April 2,
  2014 at Ba3; LGD 3, 42%

* Senior Secured Term Loan B, 2016 Tranche: $492 million extended
  to April 2, 2016 at Ba3; LGD 3, 42%

* Senior Secured Term Loan B, 2017 Tranche: $561 million extended
  to April 2, 2017 at Ba3; LGD 3, 42%

This rating was upgraded

* Speculative Grade Liquidity Rating to SGL2 from SGL3

The last rating action was on May 13, 2010, when Moody's lowered
the SGL rating to SGL-3.

Dean Foods, based in Dallas, TX, is the largest processor and
distributor of milk and various other dairy products in the United
States, and the largest producer of soy milk in Europe through its
Alpro division, with consolidated net sales of approximately
$11.2 billion in 2009, of which dairy operations accounted for
around 76%.


DELPHI CORP: Affinia, et al., Seek Dismissal of Avoidance Suits
---------------------------------------------------------------
Affinia Group and its affiliates, GKN Sinter Metals LLC, MSX
International, Inc., and Valeo Climate Control Corp.; and The
Timken Company, The Timken Corporation and MPB Corporation d/b/a
Timken Super Precision urge the Court to dismiss the avoidance
complaints filed against them for these reasons:

  (1) The Reorganized Debtors violated the Case Management Order
      and misrepresented that particularized notice was provided
      to the defendants when, in fact, there never was.

  (2) The Reorganized Debtors failed to timely unseal the
      complaints when their purported justification for sealing
      ceased to exist.  Even if the complaints were timely
      unsealed, the U.S. Court of Appeals for the Second Circuit
      In re Watson II, 690 F.3d at 16; see also United States v.
      Srulowitz, 819 F.2d 37, 40 (2d Cir. 1987) still requires
      that they be dismissed where the defendants suffered
      substantial actual prejudice during the time the
      complaints were sealed, James M. Sullivan, Esq., at Arent
      Fox LLP, in New York, counsel to the Timken Entities,
      contends.

  (3) The Reorganized Debtors admit that the entire purpose for
      the August 17, 2007 Preservation of Estate Claims
      Procedures Order and the orders extending the service
      deadline under Rule 4(m) of the Federal Rules of Civil
      Procedure was to defer serving process on defendants and
      as a matter of law, the Rule 4(m) service deadline may not
      be extended for the purpose of facilitating non-service.

  (4) The Reorganized Debtors concede that they have not set
      forth specific facts that support each element of their
      claim.

Counsel to Johnson Controls and its affiliates, Kathleen L.
Matsoukas, Esq., at Barnes & Thornburg LLP, in Chicago, Illinois
-- matsoukas@BTLaw.com -- points out that the Reorganized Debtors
failed to, among others, (i) recognize their own abandonment of
claims against Johnson Controls in the Modified First Amended
Joint Plan of Reorganization; (ii) contest the res judicata
effect of the Modified Plan; and (iii) acknowledge that they were
warned by the Court that the extensions of time under Rule 4(m)
were without prejudice to the rights of defendants in the
avoidance actions to argue defenses other than the statute of
limitation.

Microchip tells the Court that the Debtors' filing and keeping
the complaint under seal deprived it of substantive defenses.
Counsel to Microchip, Jonathan I. Levine, Esq., at Andrews Kurth
LLP, in New York -- jonathanlevine@andrewskurth.com -- contends
that the Reorganized Debtors expressly abandoned their claims
against Microchip under the Modified Plan.  He insists that if
the Reorganized Debtors ever had any claims against Microchip
they were irrevocably removed from the Reorganized Debtors'
estates and could no longer be asserted against Microchip as of
January 25, 2009.

HP Enterprise emphasizes that the Reorganized Debtors cannot rely
on their argument -- that filing and keeping the complaints under
seal was warranted to protect the Debtors' commercial
relationships with the defendants -- to impermissibly shift the
burden onto the defendants to investigate whether the Debtors
intend to preserve claims against them for several years past the
expiration of the statute of limitations.  Similarly, the
Reorganized Debtors cannot defend the due process violations that
resulted from their delay in notifying defendants of the
avoidance actions, Lisa M. Schweitzer, Esq., at Cleary Gottlieb
Steen & Hamilton LLP, in New York -- lschweitzer@cgsh.com --
counsel to HP Enterprises, asserts.

Wagner-Smith's counsel, Andrew D. Gottfried, Esq., at Morgan,
Lewis & Bockius LLP, in New York, clarifies that Wagner-Smith was
not a creditor of the Debtors and did not contract with the
Debtors to provide or receive any goods.  "At best, Wagner-Smith
has been caught in the web of the Debtors' one-size fits all
approach to these avoidance actions and that the Reorganized
Debtors' assertions are inapplicable to Wagner-Smith's
circumstances," he stresses.  In this light, Mr. Gottfried
argues, Wagner-Smith is entitled to procedural and substantive
due process, the mandates of which are not subject to limitation
based upon the Debtors' convenience or the Debtors' lopsided view
of what was in Wagner-Smith's or other defendants' interest.

Rieck Group's counsel, Lauren McEvoy, Esq., at Thompson Hine LLP,
in New York, clarifies that Rieck Group did not participate in
Delphi Corp.'s Chapter 11 case; was not on any service list; and
did not receive any notice of the Original Plan, the Modified
Plan, or of the Rule 4(m) Extension Orders.  Thus, the
Reorganized Debtors' main defense of the lack of notice and due
process arguments -- that most defendants got notice of the
Reorganized Debtors' intent to pursue certain preference claims
by a combination of the documents filed in these Chapter 11 cases
-- is inapplicable to Rieck Group, she maintains.

GBC Metals' and Spartech's counsel, Michelle K. McMahon, Esq., at
Bryan Cave LLP, in New York -- michelle.mcmahon@bryancave.com --
argues that Delphi cannot avoid the fact that it violated due
process rights of GBC and Spartech by somehow asserting that
those defendants did not have a property interest to be protected
by due process.  Similarly, Delphi cannot shift its burden to
provide notice to GBC and Spartech, she points out.

M&Q alleges that the record is clear that no justification exists
for the entry of the Preservation of Estate Claims Order, which
allowed the complaints to be filed under seal.  The rationale
behind the entry of the Rule 4(m) Extension Orders was also
inappropriate in that it permitted the Reorganized Debtors to
make no effort at all to serve defendants who have been sued,
Michael J. Viscount, Esq., at Fox Rothschild LLP, in Atlantic
City, New Jersey, counsel to M&Q, tells the Court.

The DSSI Entities' counsel, Richard M. Meth, Esq., at Fox
Rothschild LLP, in Roseland, New Jersey --
rmeth@foxrothschild.com -- maintains that the Reorganized Debtors
attempt to resurrect avoidance claims by asserting that their
prosecution and preservation of the avoidance actions was
procedurally and legally adequate, despite the myriad of
procedural and substantive deficiencies cited by various
defendants.

Unifrax's and Fin Machine's counsel, Deborah J. Piazza, Esq., at
Hodgson Russ LLP, in New York -- dpiazza@hodgsonruss.com --,
emphasizes that the issue with the Reorganized Debtors' assertion
that no harm is done to the defendants on the filing and keeping
of the complaints under seal is that it ignores the dangerous
precedent that it set by the manipulation of the rules and
generally accepted notions of due process.

The Bosch Entities also point out that Bosch GmbH is a foreign
supplier, and the claims against it must be dismissed because the
Debtors' abandoned claims against foreign suppliers pursuant to
an August 2007 order.  The Bosch Entities also clarify that the
defendant "Bosch" is not a person or entity, does not exist, and
thus cannot be sued.

Mtronics stresses that without any notice of the requests to
extend Rule 4(m) service deadline and the effect those motions
would potentially have, the effect of those motions would have
potentially have, it was deprived of its fundamental right to
plan and prepare for, and defend against the complaint filed by
the Debtors.

Setech asks the Court to treat its Motion to Vacate Avoidance
Claims Order, which also seeks dismissal of a complaint filed
against it by the Debtors, as a motion for summary judgment and
grant that motion to the extent the Court considers the facts
contained in Richard Eddinger's declaration in support of
Setech's Motion to Vacate Avoidance Claims Order.

              Parties Join in Creditors' Responses

More than 30 parties adopted the arguments asserted by Affinia,
HP Enterprises, Johnson Controls and Wagner-Smith.  They are:

* LDI Incorporated
* Shuert Industries, Inc.
* Regions Bank
* Ex-Cell-O Machine Tools, Inc.
* Access One Technology Group, LLC
* Ambrake Corporation
* MJ Celco, Inc. a/k/a MJ Celco
* Philips Semiconductor and its affiliates
* Summit Polymers, Inc.
* Victory Packaging LP
* Barnes & Associates
* Williams Advanced Materials, Inc.
* D&R Technology, LLC
* Park Ohio Industries, Inc.
* Methode Electronics, Inc.
* Globe Motors, Inc. and Globe Motors
* Blair Strip Steel Co.
* Wells Fargo Bank, N.A.
* Tyco Adhesives LP
* Ahaus Tool & Engineering Inc.
* Sumitomo Wiring Systems (U.S.A.), Inc.
* Decatur Plastic Products, Inc.
* ATS Automation Tooling Systems Inc.
* Doshi Prettl International n/k/a Doshi Prettl Int'l., LLC
* Niles USA Inc. and Niles USA
* E.I. du Pont Nemours and Company
* TechCentral L.L.C.
* Select Industries, Corp.
* Carlisle Companies Incorporated
* Vanguard Distributors, Inc.
* Universal Tool & Engineering Company, Inc.
* Sumitomo Corporation and Sumitomo Corp. of America
* Vishay Americas, Inc.
* Stephenson & Sons Roofing
* PBR Columbia L.L.C.
* Rotor Coaters International, Inc.
* Pro Tech Machine
* F.A. Tech Corporation
* NGK Automotive Ceramics USA, Inc.
* Mubea, Inc.
* D&S Machine Products, Inc.

            Parties Support Previous Motions to Vacate

Norsk Hydro Canada, Inc.; NSK Steering Systems America, Inc.; and
Ahaus Tool & Engineering Inc. join in the Motions to Vacate
Avoidance Claims Order previously filed by these parties:

* Wagner-Smith Company
* Affinia Group Holdings, Inc.
* Microchip Technology Incorporated
* MSX International, Inc.
* Valero Climate Control

                           *     *     *

Judge Drain will consider the Motions to Vacate Avoidance Claims
Order on July 22, 2010.

                        About Delphi Corp.

Based in Troy, Michigan, Delphi Corporation (PINKSHEETS: DPHIQ)
-- http://www.delphi.com/-- was a global supplier of mobile
electronics and transportation systems, including powertrain,
safety, steering, thermal, and controls & security systems,
electrical/electronic architecture, and in-car entertainment
technologies.  Delphi had approximately 146,600 employees and
operates 150 wholly owned manufacturing sites in 34 countries with
sales of $18.1 billion in 2008.

The Company filed for Chapter 11 protection on October 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, represent the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represent the Official Committee of Unsecured Creditors.  As of
June 30, 2008, the Debtors' balance sheet showed US$9,162,000,000
in total assets and US$23,742,000,000 in total debts.

The Court confirmed Delphi's plan on January 25, 2008.  The Plan
was not consummated after a group led by Appaloosa Management,
L.P., backed out from their proposal to provide US$2,550,000,000
in equity financing to Delphi.  At the end of July 2009, Delphi
obtained confirmation of a revised plan, build upon a sale of the
assets to a entity formed by some of the lenders who provided
$4 billion of debtor-in-possession financing, and General Motors
Company.

On October 6, 2009, Delphi Corp.'s Chapter 11 plan of
reorganization became effective.  A Master Disposition Agreement
executed among Delphi Corporation, Motors Liquidation Company,
General Motors Company, GM Components Holdings LLC, and DIP Holdco
3, LLC, divides Delphi's business among three separate parties --
DPH Holdings LLC, GM Components, and DIP Holdco 3.

Delphi emerged from Chapter 11 as DPH Holdings.  DPH Holdings will
remain responsible for the post-Effective Date administration and
eventual closing of the Chapter 11 cases as well as the
disposition of certain retained assets and payment of certain
retained liabilities as provided under the Modified Plan.

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


DELPHI CORP: Beijing West Completes Purchase of Suspension Biz.
---------------------------------------------------------------
Beijing West Industries Group has completed its purchase of
Delphi Corp.'s suspension and braking business, Global Times
reports.

As previously reported, Beijing West purchased Delphi's Brakes
and Ride Dynamics Business for $90 million.

Global Times relates that Delphi has five factories, four
research centers and 14 customer service centers for their
Suspension and Braking Business.  Annual revenue of the Business
is about $600 million.

Delphi's Suspension and Braking Business' clients include BMW,
Audit and Porsche, Global Times adds.

                        About Delphi Corp.

Based in Troy, Michigan, Delphi Corporation (PINKSHEETS: DPHIQ)
-- http://www.delphi.com/-- was a global supplier of mobile
electronics and transportation systems, including powertrain,
safety, steering, thermal, and controls & security systems,
electrical/electronic architecture, and in-car entertainment
technologies.  Delphi had approximately 146,600 employees and
operates 150 wholly owned manufacturing sites in 34 countries with
sales of $18.1 billion in 2008.

The Company filed for Chapter 11 protection on October 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, represent the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represent the Official Committee of Unsecured Creditors.  As of
June 30, 2008, the Debtors' balance sheet showed US$9,162,000,000
in total assets and US$23,742,000,000 in total debts.

The Court confirmed Delphi's plan on January 25, 2008.  The Plan
was not consummated after a group led by Appaloosa Management,
L.P., backed out from their proposal to provide US$2,550,000,000
in equity financing to Delphi.  At the end of July 2009, Delphi
obtained confirmation of a revised plan, build upon a sale of the
assets to a entity formed by some of the lenders who provided
$4 billion of debtor-in-possession financing, and General Motors
Company.

On October 6, 2009, Delphi Corp.'s Chapter 11 plan of
reorganization became effective.  A Master Disposition Agreement
executed among Delphi Corporation, Motors Liquidation Company,
General Motors Company, GM Components Holdings LLC, and DIP Holdco
3, LLC, divides Delphi's business among three separate parties --
DPH Holdings LLC, GM Components, and DIP Holdco 3.

Delphi emerged from Chapter 11 as DPH Holdings.  DPH Holdings will
remain responsible for the post-Effective Date administration and
eventual closing of the Chapter 11 cases as well as the
disposition of certain retained assets and payment of certain
retained liabilities as provided under the Modified Plan.

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


DELPHI CORP: DPH Wants Plan Injunction Enforced Against FKMT
------------------------------------------------------------
DPH Holdings Corp. asks the U.S. Bankruptcy Court for the
Southern District of New York to enforce an injunction contained
in the Modified First Amended Joint Plan of Reorganization and
its related July 30, 2010 confirmation order against FKMT, LLC,
f/k/a Monarch Transport, LLC.

FKMT initiated an action against Delphi Corp. on December 1, 2008,
in the Circuit Court of Jackson County, Missouri, Civil Division,
asserting that Delphi owes FKMT amounts based on unpaid invoices
that became due and payable before the October 6, 2009 Plan
Effective Date.

The Modified Plan and the July 30 Confirmation Order contain a
permanent injunction against, among others, the commencement or
continuation of any action to recover against any claim against
the Reorganized Debtors that arose before the Plan Effective
Date.

As FKMT's claims are based on alleged amounts due before the
Effective Date, the Plan Injunction stays FKMT's cause of action
against the Reorganized Debtors, Ron E. Meisler, Esq., at
Skadden, Arps, Slate, Meagher & Flom LLP, in Chicago, Illinois,
asserts.  FKMT also failed to timely file a proof of claim or
administrative claim on or before the Bar Date and is thus,
barred from asserting any claim that arose on or before the
Effective Date against the Reorganized Debtors, he points out.

More importantly, Mr. Meisler states, FKMT was required to obtain
an order from the Bankruptcy Court to lift the Plan Injunction to
continue to prosecute the Missouri Action against the Reorganized
Debtors.  By proceeding with the Missouri Action without filing a
motion in the Bankruptcy Court for a modification of the Plan
Injunction, FKMT seeks to litigate claims in the Missouri Court
that have been discharged, violating the Modified Plan and the
July 30 Confirmation Order, he argues.

Mr. Meisler emphasizes that the Reorganized Debtors have been
harmed by having to litigate a claim in the Missouri Court that
was permanently enjoined pursuant to the July 30 Confirmation
Order.  "The Reorganized Debtors have already been forced to
incur fees and costs in defending the Missouri Action and in
bringing the Enforcement Motion," he points out.  "In defending
the Missouri Action, the Reorganized Debtors are faced with the
threat of liability and expense of attorneys' fees," he asserts.

Against this backdrop, the Reorganized Debtors should be able to
rely on the Modified Plan and the July 30 Confirmation Order, and
not be compelled to litigate disallowed and discharged claims in
the Missouri Action where FKMT has not sought relief in the
Bankruptcy Court from the Plan Injunction, Mr. Meisler maintains.

For these reasons, the Reorganized Debtors further ask the
Bankruptcy Court to direct FKMT to take any action necessary to
dismiss the Missouri Action.

The Bankruptcy Court will consider the Debtors' request on
July 22, 2010.  Objections are due on July 15.

                Plan Injunction Enforced vs. Ochoa

Bankruptcy Judge Robert Drain issued an order enforcing the
Reorganized Debtors' Modified First Amended Joint Plan of
Reorganization and the related July 30, 2009, confirmation order
against Leigh Ochoa.

Judge Drain further ordered Ms. Ochoa to take any action as is
necessary to immediately dismiss an action she commenced against
Delphi Corp. in the U.S. District Court for the Eastern District
of Michigan, Northern Division.

Any further prosecution of the Michigan Action, or any similar
litigation or proceeding in any forum against the Reorganized
Debtors, without first proceeding in the U.S. Bankruptcy Court
for the Southern District of New York and establishing sufficient
cause for relief from the injunction set forth in the July 30
Confirmation Order and the Modified Plan, will constitute
contempt of the Bankruptcy Court and subject Ms. Ochoa or counsel
to sanctions, Judge Drain ruled.

                        About Delphi Corp.

Based in Troy, Michigan, Delphi Corporation (PINKSHEETS: DPHIQ)
-- http://www.delphi.com/-- was a global supplier of mobile
electronics and transportation systems, including powertrain,
safety, steering, thermal, and controls & security systems,
electrical/electronic architecture, and in-car entertainment
technologies.  Delphi had approximately 146,600 employees and
operates 150 wholly owned manufacturing sites in 34 countries with
sales of $18.1 billion in 2008.

The Company filed for Chapter 11 protection on October 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, represent the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represent the Official Committee of Unsecured Creditors.  As of
June 30, 2008, the Debtors' balance sheet showed US$9,162,000,000
in total assets and US$23,742,000,000 in total debts.

The Court confirmed Delphi's plan on January 25, 2008.  The Plan
was not consummated after a group led by Appaloosa Management,
L.P., backed out from their proposal to provide US$2,550,000,000
in equity financing to Delphi.  At the end of July 2009, Delphi
obtained confirmation of a revised plan, build upon a sale of the
assets to a entity formed by some of the lenders who provided
$4 billion of debtor-in-possession financing, and General Motors
Company.

On October 6, 2009, Delphi Corp.'s Chapter 11 plan of
reorganization became effective.  A Master Disposition Agreement
executed among Delphi Corporation, Motors Liquidation Company,
General Motors Company, GM Components Holdings LLC, and DIP Holdco
3, LLC, divides Delphi's business among three separate parties --
DPH Holdings LLC, GM Components, and DIP Holdco 3.

Delphi emerged from Chapter 11 as DPH Holdings.  DPH Holdings will
remain responsible for the post-Effective Date administration and
eventual closing of the Chapter 11 cases as well as the
disposition of certain retained assets and payment of certain
retained liabilities as provided under the Modified Plan.

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


DELPHI CORP: Obama to Name PBGC Director Amidst Pension Issues
--------------------------------------------------------------
U.S. President Barack Obama would bypass the U.S. Senate and
install his choice to head the Pension Benefit Guaranty
Corporation, David Shepardson of Detroit News reports.

As previously reported, Senator Sherrod Brown objected to the
nomination of Joshua Gotbaum as director of the PBGC, to bring to
General Motors Company to the table to meet the pension
obligations of Delphi's salaried retirees.

Mr. Gotbaum is an operating partner at the New York-based private
equity firm Blue Wolf Capital and was head of the September 11th
Fund, Mr. Shepardson states.

Mr. Shepardson relates that the decision to install Mr. Gotbaum
is a set back to Delphi's more than 15,000 salaried retirees who
had hoped pressure from the U.S. Congress would force the
administration to take action to stem their pension losses.

Mr. Brown said, "I'm extremely disappointed that the President
would place Mr. Gotbaum at the head of the PBGC before ensuring a
fair resolution of the outstanding pension issues for all Delphi
retirees," according to a public statement dated July 6, 2010.

"Mr. Gotbaum has already made it clear that he must recuse
himself from issues related to the Delphi bankruptcy and the
Delphi pensions.  There are both salaried and union Delphi
retirees who have yet to receive the pensions they earned and
deserve, and that issue should have been addressed before this
action was taken," Mr. Brown continued.

Mr. Shepardson says President Obama invoked his right to make a
"recess" appointment when Congress is out of session.  Mr.
Shepardson adds that Mr. Gotbaum can serve until the end of 2010,
or if he wins confirmation from the Senate.

Subsequently, in a recent development, ABC News' Political Punch
blog relates that President Obama attacked Congress for delaying
his nominees for the PBGC and Centers for Medicare and Medicaid
Services.

The blog notes that the nomination of Mr. Gotbaum, now the
director of the PBGC, had also been held up.

"It's unfortunate that a time when our nation is facing enormous
challenges, many in Congress have decided to delay critical
nominations for political purposes," President Obama said in a
statement, according to the blog.

                     Senator Seeks Probe on
                    Delphi Pension Disparity

Senator Roger Wicker has introduced a legislation that would
require the Government Accountability Office to conduct a non-
partisan, independent investigation into how Delphi Corp.
apparently gave preferential treatment to union employees over
non-union employees, Chad Groening OneNewsNow.com relates.

"Restoring pensions for union retirees of Delphi and not
restoring the pensions for non-union counterparts -- that is what
is unfair," Mr. Wicker was quoted by OneNewsNow as saying.

"Give us the documents.  Show us how they communicated with the
General Accountability Office.  If there are records at the
national archives, we need to see them, and we need to know why
there is a disparity between the way this administration is
treating retires based on whether they're union or not," Mr.
Wicker related, OneNewsNow reports.  Mr. Wicker adds that the
audit would also analyze unusual or improper decisions that GM
might have been pressured to make, especially those related to
the Delphi pension resolution, OneNewsNow relates.

In a related development, the U.S. House of Representatives
Financial Services Oversight and Investigations Subcommittee will
hold a field hearing on July 13, 2010 at Canfield, Ohio, to hear
from local Delphi retirees, according to a July 2 public
statement made by U.S. Representative Charlie Wilson for Ohio's
6th Congressional District.  The hearing will focus on Delphi's
pension plan since Delphi filed for bankruptcy in 2005.
Witnesses will be by invitation only and will share their
perspective on the challenges Delphi retirees have faced as a
result of the termination of their pension plans.

                        About Delphi Corp.

Based in Troy, Michigan, Delphi Corporation (PINKSHEETS: DPHIQ)
-- http://www.delphi.com/-- was a global supplier of mobile
electronics and transportation systems, including powertrain,
safety, steering, thermal, and controls & security systems,
electrical/electronic architecture, and in-car entertainment
technologies.  Delphi had approximately 146,600 employees and
operates 150 wholly owned manufacturing sites in 34 countries with
sales of $18.1 billion in 2008.

The Company filed for Chapter 11 protection on October 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, represent the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represent the Official Committee of Unsecured Creditors.  As of
June 30, 2008, the Debtors' balance sheet showed US$9,162,000,000
in total assets and US$23,742,000,000 in total debts.

The Court confirmed Delphi's plan on January 25, 2008.  The Plan
was not consummated after a group led by Appaloosa Management,
L.P., backed out from their proposal to provide US$2,550,000,000
in equity financing to Delphi.  At the end of July 2009, Delphi
obtained confirmation of a revised plan, build upon a sale of the
assets to a entity formed by some of the lenders who provided
$4 billion of debtor-in-possession financing, and General Motors
Company.

On October 6, 2009, Delphi Corp.'s Chapter 11 plan of
reorganization became effective.  A Master Disposition Agreement
executed among Delphi Corporation, Motors Liquidation Company,
General Motors Company, GM Components Holdings LLC, and DIP Holdco
3, LLC, divides Delphi's business among three separate parties --
DPH Holdings LLC, GM Components, and DIP Holdco 3.

Delphi emerged from Chapter 11 as DPH Holdings.  DPH Holdings will
remain responsible for the post-Effective Date administration and
eventual closing of the Chapter 11 cases as well as the
disposition of certain retained assets and payment of certain
retained liabilities as provided under the Modified Plan.

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


DELTA PETROLEUM: New CEO Lakey Discloses Equity Stake
-----------------------------------------------------
Carl E. Lakey, newly minted CEO and President of Delta Petroleum
Corp., disclosed in a Form 3 filed Thursday with the Securities
and Exchange Commission that he held 670,296 shares of the
company's common stock as of July 7, 2010.

In a separate regulatory filing, a Form 4 filed on the same day,
he disclosed that he disposed of 65,151 common shares at $0.82
apiece.  According to the disclosure, the shares were delivered to
the company to satisfy tax liability obligations related to
vesting of restricted stock in accordance with Rule 16b-3.

The Troubled Company Reporter ran a story on Mr. Lakey's
appointment on July 9.  In connection with his appointment as CEO,
on July 6, 2007, the Company issued to Mr. Lakey options to
purchase 250,000 shares of the Company's common stock under its
2009 Performance and Equity Incentive Plan.  The options were
issued at an exercise price of $0.79, which was the last sale
price of the Company's common stock on the NASDAQ Global Select
Market on the grant date.

The Form 4 also confirms Mr. Lakey's acquisition of the options.

                      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.

                          *     *     *

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 after auditing
the Company's financial statements for the year ended December 31,
2009.  The independent auditors noted that of the Company's
ongoing losses and working capital deficiency, and that in
addition, outstanding borrowings under the Company's credit
facility are due January 15, 2011.

In its Form 10-Q for the three months ended March 31, 2010, 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.


DENNIS RAINS: Case Summary & 19 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: Dennis W. Rains
               Cynthia G. Rains
               7309 Limestone Dr.
               Harrison, AR 72601

Bankruptcy Case No.: 10-73483

Chapter 11 Petition Date: July 7, 2010

Court: United States Bankruptcy Court
       Western District of Arkansas (Harrison)

Debtor's Counsel: Stanley V. Bond, Esq.
                  Attorney at Law
                  P.O. Box 1893
                  Fayetteville, AR 72701-1893
                  Tel: (479) 444-0255
                  Fax: (479) 444-7141
                  E-mail: attybond@me.com

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

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

A list of the Joint Debtors' 19 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/arwb10-73483.pdf

The petition was signed by the Joint Debtors.


DOLLAR THRIFTY: Avis Prepares Offer to Top Hertz's $1.2-Bil. Bid
----------------------------------------------------------------
According to The Wall Street Journal's Gina Chon and Anupreeta
Das, people familiar with the matter said Monday Avis Budget Group
Inc. is proceeding with plans to make an offer for Dollar Thrifty
Automotive Group Inc. that would top rival Hertz Global Holdings
Inc.'s $1.2 billion bid.  The sources said Avis is looking to take
on more debt to finance the deal.  The sources said Avis would
present an offer perhaps in late July or early August.

According to the report, people familiar with the matter said Avis
asked its lenders to amend its credit agreement that would allow
Avis to borrow more money to finance the Dollar Thrifty bid.
Sources told the Journal cash will make up the bulk of Avis' bid.
Hertz's offer is made up of 80% cash and 20% stock.

Avis has concluded its due diligence on Dollar Thrifty.  Sources
told the Journal Avis' decision to take on more debt shows how
serious it is about its Dollar Thrifty offer.

Dollar Thrifty set an August 18 date for shareholders to vote on
its proposed sale to Hertz, which offered $41 a share, or about
$1.2 billion.

"Right now we are totally focused on that Aug. 18 vote.  There is
nothing else to be prepared for at this point," says Richard
Broome, a spokesman for Hertz, according to the Journal.  "What do
you do? How do you deal with some phantom offer that people talk
about but never gets made?" he says.

Avis declined to comment.

The Journal notes under its agreement with Dollar, Hertz has 48
hours to respond to an Avis bid.

                         Hertz Merger Deal

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.  The $41.00 per share purchase price is
comprised of 80% cash consideration and 20% stock consideration.

Hertz will also assume or refinance Dollar Thrifty's existing
fleet debt, outstanding at closing.  Upon the close of the
transaction, Dollar Thrifty stockholders will own 5.5% of the
combined company on a diluted basis.  Dollar Thrifty will become a
wholly owned subsidiary of Hertz and Dollar Thrifty common stock
will cease trading on the NYSE.

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 Avis Budget Group

Avis Budget Group -- http://www.avisbudgetgroup.com/-- provides
vehicle rental services, with operations in more than 70
countries.  Through its Avis and Budget brands, the Company is a
leading vehicle rental company in each of North America,
Australia, New Zealand and certain other regions based on
published airport statistics.  Avis Budget Group is headquartered
in Parsippany, N.J. and has more than 22,000 employees.

At March 31, 2010, the Company had total assets of $10.257 billion
against total current liabilities of $1.328 billion, total
liabilities exclusive of liabilities under vehicle programs of
$4.044 billion and liabilities under vehicle programs of $5.987
billion, resulting in stockholders' equity of $226 million.

                           *     *     *

Avis Budget Car Rental LLC continues to carry Moody's Investors
Service's B2 corporate family rating.  Avis Budget Group Inc.
carries Standard & Poor's Ratings Services' B+ corporate credit
rating.

                         About Hertz Corp.

Hertz Corporation, headquartered in Park Ridge, New Jersey, is an
automobile and equipment rental company.

Hertz carries Moody's B1 Corporate Family Rating and Probability
of Default Rating.

                       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'.


DOMTAR CORP: S&P Raises Corporate Credit Rating From 'BB+'
----------------------------------------------------------
Standard & Poor's Ratings Services said it raised its long-term
corporate credit rating on Domtar Corp. and its subsidiary Domtar
Inc. to 'BBB-' from 'BB+'.  The outlook is stable.

At the same time, S&P raised its issue-level rating on Domtar's
senior unsecured debt to 'BBB-' from 'BB' and affirmed its 'BBB'
issue-level rating on the senior secured debt, reflecting its view
that the secured debt is well collateralized.  As of March 31,
2010, secured debt stood at US$254 million and represented 3.7% of
the company's total assets.  S&P also removed the recovery ratings
on the secured and unsecured debt as these issue-level ratings are
now investment-grade.

"The upgrade on the company reflects S&P's opinion of Domtar's
significant debt reduction and good operating performance," said
Standard & Poor's credit analyst Jatinder Mall.

The ratings on Domtar reflect Standard & Poor's view of the
company's leading market position in the North American uncoated
free sheet market, good cost profile, and low leverage.  These
strengths are somewhat offset in S&P's opinion by a steady decline
in demand for UFS, and volatile prices for commodity pulp.

With about 33% of industry capacity, Domtar is the largest UFS
manufacturer in North America, with 3.9 million short tons of
capacity and 1.9 million metric tons of pulp capacity.  The
majority of the company's paper capacity is in the U.S.; Domtar
also manufactures and sells lumber.

S&P considers Domtar's business risk profile to be fair.  The
company has a leading market share in a consolidated industry
where producers are disciplined and quick to take demand-related
downtime rather than to chase volumes.  Its paper mills are
considered to have a low cost profile, on average, as they are
large and modern, with integrated pulp and cogeneration
facilities.  In S&P's opinion, the expected decline in long-term
UFS demand due to the substitution of electronic media constrains
Domtar's business risk profile.  As such, S&P expects the company
to diversify its business downstream.  Although its market pulp
business segment provides diversification S&P considers it to have
greater volatility and competition.  In S&P's opinion, Domtar does
not have a strong market position in pulp and, while the recent
conversion of the Plymouth paper mill, N.C., to fluff pulp has
improved its cost profile, in general the company's pulp assets
have an average cost position.

The stable outlook reflects Standard & Poor's expectations that
Domtar will continue to generate good cash flows in 2010 and 2011
and maintain an adjusted leverage ratio of below 2x.  At this
point S&P does not expect further deleveraging of the balance
sheet.  An upgrade is constrained by secular decline in UFS demand
and Domtar would require diversification into another business
segment to improve its business risk profile.  S&P could lower the
ratings on the company if secular decline in UFS demand is greater
than expected leading to lower pricing, shipments, and
profitability, as well as an inability to sustain a leverage of
2.0x-2.5x.


DONALD MILLARD: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Joint Debtors: Donald Earl Millard
               Pamela Jernigan Millard
               P.O. Box 595
               Selma, NC 27576

Bankruptcy Case No.: 10-05451

Chapter 11 Petition Date: July 8, 2010

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

Judge: Randy D. Doub

Debtor's Counsel: Trawick H. Stubbs, Jr., Esq.
                  Stubbs & Perdue, P.A.
                  P.O. Drawer 1654
                  New Bern, NC 28563
                  Tel: (252) 633-2700
                  Fax: (252) 633-9600
                  E-mail: efile@stubbsperdue.com

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

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

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nceb10-05451.pdf

The petition was signed by the Joint Debtors.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Deuce Investments, Inc.                10-01083   02/12/10
JDG Investments, Inc.                  10-_____   07/08/10


DORAL ENERGY: Posts $10.1 Million Net Loss in Q3 Ended April 30
---------------------------------------------------------------
Doral Energy Corp. filed its quarterly report on Form 10-Q,
reporting a net loss $10.1 million for the three months ended
April 30, 2010, compared with a net loss of $1.1 million for the
same period ended April 30, 2009.

On June 15, 2010, the Company completed the sale of the Hanson
Properties.  During the periods covered by this quarterly report,
the Company did not earn revenues from any sources other than the
Hanson Properties.

The Company's balance sheet at April 30, 2010, showed
$11.6 million in assets, $10.7 million of liabilities, and
$895,370 of stockholders' equity.

Malone & Bailey, PC, in Houston, Texas, 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 July 31, 2009.  The independent auditors noted that the
Company has negative working capital and recurring losses from
operations.

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

               http://researcharchives.com/t/s?664c

                        About Doral Energy

Doral Energy Corp. (OTC BB: DRLY) -- http://www.DoralEnergy.com/
-- is an oil and gas exploitation and production company
headquartered in Midland, Texas.  Doral Energy Corp.'s strategy is
to grow a portfolio of under-developed production and exploitation
assets with the potential for generating near-term increases in
existing production through operational improvements, and longer-
term development of proved undeveloped reserves by infill
drilling.

On June 15, 2010, Doral sold certain oil and gas properties
located in Eddy County, New Mexico to Alamo Resources LLC.  The
sale was completed pursuant to the Company's agreement with Alamo
dated April 30, 2010.


DOUGLAS DYNAMICS: Moody's Cuts Rating on $83 Mil. Loan to 'B2'
--------------------------------------------------------------
Moody's Investors Service lowered the rating on Douglas Dynamics,
LLC's $83 million term loan due 2013 to B2 (LGD 3; 49%) in line
with the rating on the incremental $40 million tack-on term loan
assigned in April 2010.  This action concludes the review for
downgrade initiated for only the term loan on April 16, 2010.
Other ratings, including the B2 Corporate Family Rating, and the
positive outlook were not impacted by the action.

Simultaneously, Moody's withdrew its ratings on the $150 million
of senior notes due 2012.

The rating actions follow the company's completion of its initial
public offering and the redemption of the senior notes.

The ratings are:

* $83 million term loan due 2013 lowered to B2 (LGD 3; 49%) from
  Ba2 (LGD 2; 20%)

* $40 million term loan due 2016 remains B2 (LGD 3; 49%)

* $150 million senior notes due 2012 rating of B3 (LGD 5; 76%)
  withdrawn

* Corporate Family Rating remains B2

* Probability of Default Rating remains B2

* Outlook remains positive

The last rating action on Douglas was on April 16, 2010, when the
corporate family rating was affirmed at B2 with the outlook
changed to positive from negative.

Douglas Dynamics is the North American leader in the design,
manufacture, sale and support of snow and ice control equipment
through its Western, Fisher, and Blizzard brands.  In 2009, the
company generated approximately $174 million of revenues.


DOUGLAS KEIFFER: Case Summary & 4 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Douglas Jack Keiffer
        1624 Long Hollow Pike
        Gallatin, TN 37066

Bankruptcy Case No.: 10-07069

Chapter 11 Petition Date: July 7, 2010

Court: U.S. Bankruptcy Court
       Middle District of Tennessee (Nashville)

Judge: George C. Paine II

Debtor's Counsel: Thomas Larry Edmondson, Sr., Esq.
                  T. Larry Edmondson Attorney at Law
                  800 Broadway, 3rd Floor
                  Nashville, TN 37203
                  Tel: (615) 254-3765
                  Fax: (615) 254-2072
                  E-mail: ledmondson@ECF.EPIQSystems.com

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

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

According to the schedules, the Debtor says that assets total
$1,029,660 while debts total $726,865.

A copy of the Debtor's list of 4 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/tnmb10-07069.pdf

The petition was signed by the Debtor.


ELITE PHARMA: Demetrius & Company Raises Going Concern Doubt
------------------------------------------------------------
Elite Pharmaceuticals, Inc., filed on July 7, 2010, its annual
report on Form 10-K for the year ended March 31, 2010.

Demetrius & Company, L.L.C., in Wayne, New Jersey, expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that the Company
has experienced significant losses and negative operating cash
flows resulting in a working capital deficiency and shareholders'
deficit.

The Company reported a net loss $8.1 million on $3.3 million of
revenue for the year ended March 31, 2010, compared with a net
loss of $6.6 million on $2.3 million of revenue for the year ended
March 31, 2009.

The Company's balance sheet at March 31, 2010, showed
$10.6 million in assets and $21.2 million of liabilities, for a
stockholders' deficit of $10.6 million.

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

               http://researcharchives.com/t/s?6646

                   About Elite Pharmaceuticals

Northvale, N.J.-based Elite Pharmaceuticals, Inc. (OTC BB: ELTP)
-- http://www.elitepharma.com/-- is a specialty pharmaceutical
company principally engaged in the development and manufacture of
oral, controlled-release products, using proprietary technology.
The Company has two products, Lodrane 24(R) and Lodrane 24D(R),
currently being sold commercially.


ENVIRONMENTAL POWER: Receiver Tapped for Huckabay Ridge Facility
----------------------------------------------------------------
Environmental Power Corporation disclosed that a receiver has been
appointed for the Huckabay Ridge facility owned by its subsidiary,
MST Estates, LLC, a subsidiary of Microgy Holdings, LLC.  The
receiver was appointed at the request of Wells Fargo Bank,
National Association.  Wells Fargo is the trustee under the
indenture for the tax-exempt bonds issued by the Gulf Coast
Industrial Development Authority of Texas for the purpose of
financing the Huckabay Ridge facility and other facilities being
developed in Texas by Microgy Holdings.  As previously announced,
Microgy Holdings was declared to be in default of its obligations
relating to the Texas Bonds and such obligations were accelerated
in full.  The Huckabay Ridge facility was pledged as collateral to
secure the obligations under the Texas Bonds.

The Company expects that the receivership is the first step in a
process to monetize the Huckabay Ridge collateral for the benefit
of the bondholders.  It is not known at this time when a
disposition may occur or whether there will be proceeds remaining
for distribution to Microgy Holdings or, ultimately, the Company,
after the disposition of this collateral and the satisfaction of
the past-due obligations to the bondholders.

"We are obviously disappointed by the developments at Huckabay
Ridge and hoped that the bondholders would follow up on proposals
made by the Company for restructuring of the debt to bondholders,
without having to resort to receivership," noted Richard Kessel,
Chief Executive Officer of Environmental Power.  "Unfortunately,
with the receivership, the possibility of a bankruptcy filing for
the remaining EPC companies has increased."

                   About Environmental Power

Environmental Power Corporation --
http://www.environmentalpower.com.-- is a developer, owner, and
operator of renewable energy production facilities.  The company's
principal operating subsidiary, Microgy, Inc., develops and
operates proven large scale, commercial anaerobic digestion based
projects that produce a versatile methane-rich biogas from
livestock waste and other organic sources.


EVERGREEN TANK: S&P Revises Outlook on 'B' Rating to Negative
-------------------------------------------------------------
Standard and Poor's Ratings Services said that it revised its
outlook on Houston-based Evergreen Tank solutions Inc. to negative
from stable.

At the same time, S&P affirmed its 'B' corporate credit rating on
the company and lowered the local currency issue-level rating on
its second-lien term loan to 'B-' from 'B' (one notch lower than
the corporate credit rating).  S&P also lowered the recovery
rating to '5' from '4', reflecting lower valuation in its recovery
analysis and indicating expectation of modest (10% to 30%)
recovery in the event of a payment default.

"The outlook revision reflects ETS' weaker-than-expected operating
performance and cash flow generation," said Standard & Poor's
credit analyst Sarah Wyeth.  "This has resulted in leverage
metrics outside of S&P's expectations." S&P believes that the
possibility of the company returning to metrics within its
expectations over the next few quarters has declined.

The ratings on ETS reflect its position in the cyclical and
capital-intensive equipment rental industry and its highly
leveraged financial risk profile.

ETS rents liquid and solid storage containers and provides related
services to refineries, chemical companies, and oil and gas field
service companies.  The company also generates a minimal amount of
sales from new equipment.

The negative outlook reflects the possibility of a downgrade if
the company's operating performance, leverage, and free cash flow
generation don't improve, or if it doesn't refinance its revolving
credit facility in a timely manner.


FLYING J: Emerges From Chapter 11 Bankruptcy
--------------------------------------------
Flying J, Inc., has emerged from Chapter 11 bankruptcy protection,
with the aid of Grant Thornton LLP, who served as the financial
advisor to the Official Committee of Unsecured Creditors and
Pachulski Stang Ziehl & Jones LLP, who served as counsel to the
Committee.

The Company will repay in full the $1.4 billion owed its
creditors, with the distributions on allowed claims of the
company's creditors expected to commence before the end of July.

Amidst a precipitous drop in oil prices and a challenging economic
environment, Flying J initially filed for Chapter 11 protection on
December 22, 2008.  On July 6, 2010, the Bankruptcy Court
confirmed the Company's Amended Plan of Reorganization, enabling
the Company's emergence from Chapter 11.

During the pendency of the bankruptcy, Grant Thornton assisted the
Committee in ensuring that the Company maintained adequate
liquidity to support operations, execute a successful
reorganization and make a full payment to all creditors.  To
accomplish a full payment to all creditors, the Company had to
complete a number of transactions related to the sale of assets
including, a refinery, pipelines, oil and gas wells and the retail
refined products business.

"We are incredibly pleased with the outcome of this case.  In
particular, payment in full of all secured and unsecured creditors
plus post-petition interest is a major accomplishment.  18 months
of hard work by the Debtors, the Committee, and their respective
professionals paid off as reflected in this outstanding result.
We congratulate everyone who contributed to this effort and wish
Flying J and Pilot Travel Centers every success in the future,"
said Rob Feinstein, New York-based managing partner at Pachulski
Stang Ziehl & Jones LLP.

"After a year and half of hard work, this is a great outcome for
our clients and the unsecured creditors.  The Committee counsel
and financial advisor have worked very hard to ensure this
positive result, despite looming uncertainty just six month ago,"
said Loretta Cross, Houston-based managing partner at Grant
Thornton LLP.  "Participating in the restructuring of Flying J on
behalf of the Official Committee of Unsecured Creditors was a
challenging project with a positive conclusion.  The unsecured
creditors will recover 100% of their allowed claims, plus
interest, and the Company is poised to focus on its refinery and
financial services operations going forward for sustainable
growth."

Grant Thornton's Energy Advisory Team has been active in several
successful restructurings in 2010, including Saratoga Resources,
Inc., an independent exploration and production company with
offices in Houston, Texas, and Covington, Louisiana, and TXCO
Resources, an independent oil and gas enterprise.  In both of
these cases, the unsecured creditors will also recover 100% of
their allowed claims.

                       About Grant Thornton LLP

Grant Thornton LLP's Corporate Advisory & Restructuring Services
group includes more than 100 professionals in 10 offices in the
U.S.  We also work closely with the Restructuring & Recovery
practices of Grant Thornton International member firms, comprised
of several hundred restructuring professionals internationally.

The group's professionals possess extensive experience with both
bankruptcy and out-of-court restructuring, spanning many
industries, including energy, automotive, gaming and hospitality,
healthcare, manufacturing, real estate and retail.  Our clients
include debtors, lenders, individual creditors and creditor
committees, in addition to officers and directors and the boards
and committees involved with corporate governance.

Our professionals are leaders in providing crisis management and
serving as interim management, including significant roles as
Chief Restructuring Officer and Chief Financial Officer.  We are
highly qualified to serve in these roles as our professionals
possess extensive experience in operational roles, several
spanning decades as Chief Operating Officer, Chief Financial
Officer and executive level positions in publicly-held companies.


EMPIRE RESORTS: Mowak to End Exclusive Talks to Build Casino
------------------------------------------------------------
Empire Resorts Inc. has received word the St. Regis Mohawk Tribe
has decided to end its exclusive discussions with Empire Resorts
to build a Class III casino in the Catskills region of New York
State.

Empire Resorts CEO Joseph D'Amato commented, "We concur with the
Tribe's assessment that the Monticello Casino and Raceway site is
the Tribe's best choice for Class III gaming in the Catskills
given the important federal, state and local approvals that have
taken many years to complete.  While it is unfortunate that the
Tribe has indicated its intention to explore other Catskill
locations where it would have no site specific approvals, Empire
Resorts respects the Council's position and we wish them every
success."

The St. Regis Mohawk Tribe is only the second tribe in history to
obtain the federal "two-part determination" necessary to own and
operate an off-reservation casino. In order to build the casino,
the land must be taken into trust and the Tribe has successfully
completed nearly all of the many steps necessary to have this
done; all of the related approvals are still valid.

Mr. D'Amato concluded, "Empire Resorts will continue to explore
every growth opportunity including the expansion of our existing
facility.  In terms of tribal gaming, our Monticello Casino and
Raceway site has unparallel infrastructure, approvals and access
that will make it a prime location for any future gaming in the
Catskills should the St. Regis Mohawks, or any other Tribe, wish
to pursue off-reservation gaming in Sullivan County."

                       About Empire Resorts

Based in Monticello, New York, Empire Resorts, Inc. (NASDAQ: NYNY)
-- http://www.empireresorts.com/-- currently owns and operates
Monticello Casino & Raceway, a video gaming machine and harness
racing track and casino located in Monticello, New York, 90 miles
northwest of New York City.

The Company's balance sheet at March 31, 2010, showed
$86.8 million in total assets and $72.3 million in total current
liabilities, for a $14.4 million total stockholders' equity.

Auditor Friedman LLP, in New York, said Empire Resorts' ability to
continue as a going concern depends on the Company's ability to
fulfill its obligations with respect to its $65 million of 5-1/2%
senior convertible notes.  Friedman also noted of the Company's
continuing net losses and negative cash flows from operating
activities.

As reported by the Troubled Company Reporter, Empire Resorts on
April 8, 2010, received the Decision, Order and Judgment from the
Supreme Court of the State of New York in Sullivan County granting
defendants', The Bank of New York Mellon Corporation and The
Depository Trust Company, motion for summary judgment in the
action captioned Empire Resorts, Inc. v. The Bank of New York
Mellon Corporation and The Depository Trust Company.  The Decision
provides that the Court has determined that the Defendants
properly exercised the option requiring the Company to repurchase
$65 million of 5-1/2% senior convertible notes issued by the
Company in July 2004, that the Company is in default under the
Notes with respect to its failure to repurchase the Notes on July
31, 2009, and that the Company must now repurchase the Notes.  The
TCR said the Company is working with its financial advisor,
Merrill Lynch, Pierce, Fenner & Smith Incorporated, and its legal
counsel to consider its available financial and legal alternatives
in response to the Decision.


FANNIE MAE: FHFA Subpoenas Issuers of Mortgage Securities
---------------------------------------------------------
The Federal Housing Finance Agency, as Conservator of Fannie Mae
and Freddie Mac, has issued 64 subpoenas to various entities,
seeking documents related to private-label mortgage-backed
securities in which the two Enterprises invested.  The documents
will enable the FHFA to determine whether PLS issuers and others
are liable to the Enterprises for certain losses they have
suffered on PLS.  If so, the Conservator expects to recoup funds,
which would be used to offset payments made to the Enterprises by
the U.S. Treasury.

Fannie Mae and Freddie Mac share the critical mission of providing
liquidity and stability to the Nation's secondary mortgage market.
On September 6, 2008, FHFA placed both Enterprises into
conservatorship with the purpose of preserving and conserving
Enterprise assets.  Before and during conservatorship, the
Enterprises sought to assess and enforce their rights as investors
in PLS, in an effort to recoup losses suffered in connection with
their portfolios.  Specifically, the Enterprises have attempted to
determine whether misrepresentations, breaches of warranties or
other acts or omissions by PLS counterparties would require
repurchase of loans underlying the PLS by the counterparties and
whether other remedies might be appropriate.

However, difficulty in obtaining the loan documents has presented
a challenge to the Enterprises' efforts.  FHFA has therefore
issued these subpoenas for various loan files and transaction
documents pertaining to loans securing the PLS to trustees and
servicers controlling or holding that documentation.

"FHFA is taking this action consistent with our responsibilities
as Conservator of each Enterprise," said FHFA Acting Director
Edward J. DeMarco.  "By obtaining these documents we can assess
whether contractual violations or other breaches have taken place
leading to losses for the Enterprises and thus taxpayers. If so,
we will then make decisions regarding appropriate actions."

Congress provided FHFA with broad subpoena authority in the
Housing and Economic Recovery Act of 2008.  FHFA anticipates full
compliance with the subpoenas but is prepared to take appropriate
action to ensure compliance, if necessary.

The FHFA regulates Fannie Mae, Freddie Mac and the 12 Federal Home
Loan Banks. These government-sponsored enterprises provide more
than $5.9 trillion in funding for the U.S. mortgage markets and
financial institutions.

The government has injected $145 billion to keep Fannie Mae and
Freddie Mac afloat.

                           *     *     *

The FHFA didn't disclose its targets.

The Wall Street Journal's Nick Timiraos reports that the top
private issuers of mortgage securities included Bear Stearns Cos.
and Washington Mutual Inc., which were taken over by J.P. Morgan
Chase & Co., as well as Countrywide Home Loans and Merrill Lynch,
which were taken over by Bank of America Inc.  Deutsche Bank AG
and Morgan Stanley were also among the top issuers.  All the banks
declined to comment.

                         About Fannie Mae

Federal National Mortgage Association, aka Fannie Mae, is a
government-sponsored enterprise that was chartered by U.S.
Congress in 1938 to support liquidity, stability and affordability
in the secondary mortgage market, where existing mortgage-related
assets are purchased and sold.

At March 31, 2010, Fannie Mae had total assets of $3.293 trillion
in total assets against $3.302 trillion in total liabilities.

Fannie Mae has been under conservatorship, with the Federal
Housing Finance Agency acting as conservator, since September 6,
2008.  As conservator, FHFA succeeded to all rights, titles,
powers and privileges of the company, and of any shareholder,
officer or director of the company with respect to the company and
its assets.  The conservator has since delegated specified
authorities to Fannie Mae's Board of Directors and has delegated
to management the authority to conduct day-to-day operations.

The U.S. Department of the Treasury owns Fannie Mae's senior
preferred stock and a warrant to purchase 79.9% of its common
stock, and Treasury has made a commitment under a senior preferred
stock purchase agreement to provide Fannie with funds under
specified conditions to maintain a positive net worth.


FANNIE MAE: Regulator Proposes Rule on Conservatorship
------------------------------------------------------
The Federal Housing Finance Agency last week sent to the Federal
Register a proposed rule to codify the terms of conservatorship
and receivership operations for Fannie Mae, Freddie Mac and the
Federal Home Loan Banks, pursuant to the Housing and Economic
Recovery Act of 2008.  The proposed rule parallels many of the
provisions in the Federal Deposit Insurance Corporation rules for
conservatorships and receiverships.  Among the key issues
addressed in the proposed rule are: the status and priority of
claims, the relationships among various classes of creditors and
equity-holders and the priorities for contract parties and other
claimants under conservatorships or receiverships.

"This regulation is designed to provide clarity to the regulated
entities, creditors and the markets," said Acting Director Edward
J. DeMarco.  "Publication of this rule for comment has no impact
on the current conservatorship operations and is not a reflection
of the condition of Fannie Mae, Freddie Mac, or the Federal Home
Loan Banks."

The proposed rule would clarify:

     * that all claims arising from an equity interest in a
       regulated entity in receivership would be given the same
       treatment as the interests of shareholders;

     * that claims by shareholders would receive the lowest
       priority in a receivership, behind administrative expenses
       of the receiver, general liabilities of the regulated
       entity and liabilities subordinated to those of general
       creditors;

     * that the ability of a regulated entity to make capital
       distributions during a conservatorship would be restricted;

     * that the powers of the conservator or receiver include
       continuing the missions of a regulated entity and ensuring
       that the operations of the regulated entity foster liquid,
       efficient, competitive and resilient national housing
       finance markets; and,

     * the status of claims against the conservator or receiver
       for breach of contract.

Public comments are due 60 days from the date of publication in
the Federal Register.

The Federal Housing Finance Agency regulates Fannie Mae, Freddie
Mac and the 12 Federal Home Loan Banks.  These government-
sponsored enterprises provide more than $5.9 trillion in funding
for the U.S. mortgage markets and financial institutions.

                         About Fannie Mae

Federal National Mortgage Association, aka Fannie Mae, is a
government-sponsored enterprise that was chartered by U.S.
Congress in 1938 to support liquidity, stability and affordability
in the secondary mortgage market, where existing mortgage-related
assets are purchased and sold.

At March 31, 2010, Fannie Mae had total assets of $3.293 trillion
in total assets against $3.302 trillion in total liabilities.

Fannie Mae has been under conservatorship, with the Federal
Housing Finance Agency acting as conservator, since September 6,
2008.  As conservator, FHFA succeeded to all rights, titles,
powers and privileges of the company, and of any shareholder,
officer or director of the company with respect to the company and
its assets.  The conservator has since delegated specified
authorities to Fannie Mae's Board of Directors and has delegated
to management the authority to conduct day-to-day operations.

The U.S. Department of the Treasury owns Fannie Mae's senior
preferred stock and a warrant to purchase 79.9% of its common
stock, and Treasury has made a commitment under a senior preferred
stock purchase agreement to provide Fannie with funds under
specified conditions to maintain a positive net worth.


FANNIE MAE: Goldman Sachs Sued by Liberty on Fannie Mae Offering
----------------------------------------------------------------
Bloomberg News reports that Goldman Sachs Group Inc. was accused
in a lawsuit by Liberty Mutual Insurance Co. of misleading
investors in 2007 when it sold Fannie Mae preferred shares while
betting against the U.S. mortgage market.

According to the report, a complaint filed in federal court in
Boston said that Goldman Sachs misrepresented Fannie Mae's health
when it underwrote the offerings, in which the insurer invested
$62.5 million.  The investment bank misstated the purpose of the
sale by saying the offering was to raise surplus capital when it
was actually needed to help Fannie Mae sustain its business, said
Liberty Mutual, which accused Goldman Sachs of securities fraud.

                         About Fannie Mae

Federal National Mortgage Association, aka Fannie Mae, is a
government-sponsored enterprise that was chartered by U.S.
Congress in 1938 to support liquidity, stability and affordability
in the secondary mortgage market, where existing mortgage-related
assets are purchased and sold.

At March 31, 2010, Fannie Mae had total assets of $3.293 trillion
in total assets against $3.302 trillion in total liabilities.

Fannie Mae has been under conservatorship, with the Federal
Housing Finance Agency acting as conservator, since September 6,
2008.  As conservator, FHFA succeeded to all rights, titles,
powers and privileges of the company, and of any shareholder,
officer or director of the company with respect to the company and
its assets.  The conservator has since delegated specified
authorities to Fannie Mae's Board of Directors and has delegated
to management the authority to conduct day-to-day operations.

The U.S. Department of the Treasury owns Fannie Mae's senior
preferred stock and a warrant to purchase 79.9% of its common
stock, and Treasury has made a commitment under a senior preferred
stock purchase agreement to provide Fannie with funds under
specified conditions to maintain a positive net worth.


FREDDIE MAC: Regulator Proposes Rule on Conservatorship
-------------------------------------------------------
The Federal Housing Finance Agency last week sent to the Federal
Register a proposed rule to codify the terms of conservatorship
and receivership operations for Fannie Mae, Freddie Mac and the
Federal Home Loan Banks, pursuant to the Housing and Economic
Recovery Act of 2008.  The proposed rule parallels many of the
provisions in the Federal Deposit Insurance Corporation rules for
conservatorships and receiverships.  Among the key issues
addressed in the proposed rule are: the status and priority of
claims, the relationships among various classes of creditors and
equity-holders and the priorities for contract parties and other
claimants under conservatorships or receiverships.

"This regulation is designed to provide clarity to the regulated
entities, creditors and the markets," said Acting Director Edward
J. DeMarco.  "Publication of this rule for comment has no impact
on the current conservatorship operations and is not a reflection
of the condition of Fannie Mae, Freddie Mac, or the Federal Home
Loan Banks."

The proposed rule would clarify:

     * that all claims arising from an equity interest in a
       regulated entity in receivership would be given the same
       treatment as the interests of shareholders;

     * that claims by shareholders would receive the lowest
       priority in a receivership, behind administrative expenses
       of the receiver, general liabilities of the regulated
       entity and liabilities subordinated to those of general
       creditors;

     * that the ability of a regulated entity to make capital
       distributions during a conservatorship would be restricted;

     * that the powers of the conservator or receiver include
       continuing the missions of a regulated entity and ensuring
       that the operations of the regulated entity foster liquid,
       efficient, competitive and resilient national housing
       finance markets; and,

     * the status of claims against the conservator or receiver
       for breach of contract.

Public comments are due 60 days from the date of publication in
the Federal Register.

The Federal Housing Finance Agency regulates Fannie Mae, Freddie
Mac and the 12 Federal Home Loan Banks.  These government-
sponsored enterprises provide more than $5.9 trillion in funding
for the U.S. mortgage markets and financial institutions.

                        About Freddie Mac

Based in McLean, Virginia, Freddie Mac (NYSE: FRE)
-- http://www.FreddieMac.com/-- was established by Congress in
1970 to provide liquidity, stability and affordability to the
nation's residential mortgage markets.  Freddie Mac supports
communities across the nation by providing mortgage capital to
lenders.  Over the years, Freddie Mac has made home possible for
one in six homebuyers and more than five million renters.

Freddie Mac is under conservatorship and is dependent upon the
continued support of Treasury and FHFA to continue operating its
business.  The Company received $6.1 billion and $30.8 billion in
June 2009 and March 2009, respectively, pursuant to draw requests
that FHFA submitted to Treasury on the Company's behalf to address
the deficits in the Company's net worth as of March 31, 2009, and
December 31, 2008, respectively.  As a result of funding of the
draw requests, the aggregate liquidation preference on the senior
preferred stock owned by Treasury increased from $14.8 billion as
of December 31, 2008, to $51.7 billion on December 31, 2009.


FREDDIE MAC: FHFA Subpoenas Issuers of Mortgage Securities
----------------------------------------------------------
The Federal Housing Finance Agency, as Conservator of Fannie Mae
and Freddie Mac, has issued 64 subpoenas to various entities,
seeking documents related to private-label mortgage-backed
securities in which the two Enterprises invested.  The documents
will enable the FHFA to determine whether PLS issuers and others
are liable to the Enterprises for certain losses they have
suffered on PLS.  If so, the Conservator expects to recoup funds,
which would be used to offset payments made to the Enterprises by
the U.S. Treasury.

Fannie Mae and Freddie Mac share the critical mission of providing
liquidity and stability to the Nation's secondary mortgage market.
On September 6, 2008, FHFA placed both Enterprises into
conservatorship with the purpose of preserving and conserving
Enterprise assets.  Before and during conservatorship, the
Enterprises sought to assess and enforce their rights as investors
in PLS, in an effort to recoup losses suffered in connection with
their portfolios.  Specifically, the Enterprises have attempted to
determine whether misrepresentations, breaches of warranties or
other acts or omissions by PLS counterparties would require
repurchase of loans underlying the PLS by the counterparties and
whether other remedies might be appropriate.

However, difficulty in obtaining the loan documents has presented
a challenge to the Enterprises' efforts.  FHFA has therefore
issued these subpoenas for various loan files and transaction
documents pertaining to loans securing the PLS to trustees and
servicers controlling or holding that documentation.

"FHFA is taking this action consistent with our responsibilities
as Conservator of each Enterprise," said FHFA Acting Director
Edward J. DeMarco.  "By obtaining these documents we can assess
whether contractual violations or other breaches have taken place
leading to losses for the Enterprises and thus taxpayers. If so,
we will then make decisions regarding appropriate actions."

Congress provided FHFA with broad subpoena authority in the
Housing and Economic Recovery Act of 2008.  FHFA anticipates full
compliance with the subpoenas but is prepared to take appropriate
action to ensure compliance, if necessary.

The FHFA regulates Fannie Mae, Freddie Mac and the 12 Federal Home
Loan Banks. These government-sponsored enterprises provide more
than $5.9 trillion in funding for the U.S. mortgage markets and
financial institutions.

The government has injected $145 billion to keep Fannie Mae and
Freddie Mac afloat.

                           *     *     *

The FHFA didn't disclose its targets.

The Wall Street Journal's Nick Timiraos reports that the top
private issuers of mortgage securities included Bear Stearns Cos.
and Washington Mutual Inc., which were taken over by J.P. Morgan
Chase & Co., as well as Countrywide Home Loans and Merrill Lynch,
which were taken over by Bank of America Inc.  Deutsche Bank AG
and Morgan Stanley were also among the top issuers.  All the banks
declined to comment.

                        About Freddie Mac

Based in McLean, Virginia, Freddie Mac (NYSE: FRE)
-- http://www.FreddieMac.com/-- was established by Congress in
1970 to provide liquidity, stability and affordability to the
nation's residential mortgage markets.  Freddie Mac supports
communities across the nation by providing mortgage capital to
lenders.  Over the years, Freddie Mac has made home possible for
one in six homebuyers and more than five million renters.

Freddie Mac is under conservatorship and is dependent upon the
continued support of Treasury and FHFA to continue operating its
business.  The Company received $6.1 billion and $30.8 billion in
June 2009 and March 2009, respectively, pursuant to draw requests
that FHFA submitted to Treasury on the Company's behalf to address
the deficits in the Company's net worth as of March 31, 2009, and
December 31, 2008, respectively.  As a result of funding of the
draw requests, the aggregate liquidation preference on the senior
preferred stock owned by Treasury increased from $14.8 billion as
of December 31, 2008, to $51.7 billion on December 31, 2009.


FX REAL ESTATE: Inks Subscription Pacts With Directors, Key Owners
------------------------------------------------------------------
FX Real Estate and Entertainment Inc. entered into subscription
agreements with certain of its directors, executive officers and
greater than 10% stockholders pursuant to which the Purchasers
purchased from the Company an aggregate of 102 Units at a purchase
price of $1,000 per Unit.

Each Unit consists of (x) one share of the Company's newly issued
Series A Convertible Preferred Stock, $0.01 par value per share,
and (y) a warrant to purchase up to 14,869.88 shares of the
Company's common stock (such number of shares being equal to the
product of (i) the initial stated value of $1,000 per share of
Series A Convertible Preferred Stock divided by the weighted
average closing price per share of the Company's common stock as
reported on the Pink Sheets over the 30-day period immediately
preceding the closing date and (ii) 200% at an exercise price of
$0.2018 per share.  The Warrants are exercisable for a period of 5
years.  The Company generated aggregate proceeds of $102,000 from
the sale of the Units pursuant to the Subscription Agreements.
The Company intends to use the proceeds to fund working capital
requirements and for general corporate purposes.

The Company created 1,500 shares of Series A Convertible Preferred
Stock by filing a Certificate of Designation with the Secretary of
State of the State of Delaware thereby amending its Amended and
Restated Certificate of Incorporation, as amended.  The Company
has issued and sold all of the 1,500 shares of the Series A
Convertible Preferred Stock as part of the Units and the sale of
other units.

               About FX Real Estate and Entertainment

Based in New York, 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.  The first lien lenders had a receiver appointed
on June 23, 2009, to take control of the property and as a
consequence, the property is no longer being managed or operated
by the Company.

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

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 is in default under the mortgage
loan, 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.


GENCORP INC: Posts $13.5 Million Net Income for May 31 Quarter
--------------------------------------------------------------
GenCorp Inc. filed its quarterly report on Form 10-Q, reporting
$13.5 million net income on $222.2 million total operating costs
and expenses for the three months ended May 31, 2010, compared
with $9.2 million net income on $161.7 million total operating
costs and expenses for the same period a year ago.

The company's balance sheet for May 31, 2010, showed $963.4
million in total assets and $1.2 billion in total liabilities, for
a $246.6 million total stockholders' deficit.

A full-text copy of the company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?664b

                        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.


GARLOCK SEALING: Presents Protocol for Sec. 503(b)(9) Claims
------------------------------------------------------------
As of the Petition Date, Garlock Sealing Technologies LLC and its
units were in possession of certain goods delivered to them on
credit and for which they have not yet paid.  Under Section
503(b)(9) of the Bankruptcy Code, claims for the value of goods
received by the Debtors in the ordinary course of their business,
including those goods received from their affiliates, during the
twenty-day period before the Petition Date are entitled to
administrative expense status.

At the Debtors' behest, the Court approves certain procedures
resolving the Twenty-Day Administrative Claims.

The Court-approved Twenty-Day Administrative Claims procedures
are:

   (a) The Debtors are authorized to pay invoices for all goods
       they received on credit within 20 days before the
       Petition Date, including any goods received from a
       supplier which is an Affiliated Entity; and

   (b) Neither the Debtors' payment for any Twenty-Day Goods,
       nor the acceptance of a payment by any supplier,
       including any supplier which is an Affiliated Entity,
       will be deemed to limit the rights of that Twenty-Day
       Supplier to assert a claim for any additional
       administrative expenses that are not paid pursuant to
       those procedures, whether arising under Section 503(b)(9)
       of the Bankruptcy Code or otherwise.

Similarly, the Debtors expect to receive a number of written
reclamation demands from various vendors or other parties with
respect to those goods.

Thus, the Debtors sought and obtained Court approval of procedures
for the reconciliation and allowance of all asserted reclamation
claims.

The Court-approved procedures for Reclamation Claims are:

  (a) Any creditor or claimant, including any creditor or
      claimant that is an Affiliated Entity, asserting a
      Reclamation Claim must satisfy all procedural and timing
      requirements under applicable law and demonstrate that it
      has satisfied all legal elements entitling it to a right
      of reclamation;

  (b) Any Seller asserting a Reclamation Claim must deliver a
      copy of its reclamation demand to the Debtors within 20
      days of the Petition Date.  Upon receipt of any
      reclamation demand, the Debtors will serve a copy of the
      order granting the Reclamation Motion on that Seller.
      The written demand will include: (i) a statement by the
      Seller as to whether it has or will assert an
      administrative claim pursuant to Section 503(b)(9); (ii)
      the value of that administrative claim and (iii) an
      itemized list of goods delivered by the Seller to the
      Debtors within (A) the 20 days immediately before the
      Petition Date and (B) the period between 21 and 45 days
      immediately before the Petition Date;

  (c) After receipt of all timely reclamation demands and an
      opportunity to review those demands, the Debtors will file
      a notice listing the Reclamation Claims and amount that
      they determine valid for each Reclamation Claim no later
      than 90 days after the Petition Date to: (i) the U.S.
      Bankruptcy Administrator for the Western District of North
      Carolina; (ii) counsel to the Official Committee of
      Unsecured Creditors; (iii) counsel to the Official
      Committee of Asbestos Personal Injury Claimants; (iv) each
      Seller that is subject to the Reclamation Notice; and (v)
      counsel to the Debtors' DIP Lender;

  (d) If the Debtors fail to timely file the Reclamation Notice,
      any Seller may bring a motion to seek relief with respect
      to its Reclamation Claim, but may not bring that motion
      until the Reclamation Notice Deadline expires;

  (e) All Notice Parties may object to the proposed treatment of
      any Reclamation Claim in the Reclamation Notice.  If an
      objection is filed, the Debtors will make available to
      any Notice Party, non-privileged documentation that
      supports the Debtors' determination of the allowable
      amount of the Reclamation Claim;

  (f) Any Reclamation Claim that is included in the Reclamation
      Notice and is not the subject of an objection within 20
      days after service of the Reclamation Notice will be
      deemed a valid Reclamation Claim allowed by the Court in
      the amount identified in the Reclamation Notice, and the
      Debtors will remit payment immediately to the Seller;

  (g) The Debtors are authorized to negotiate with any Seller to
      resolve its Reclamation Claim.  If the Debtors and a
      Seller are able to agree on the validity, amount or
      treatment of that Reclamation Claim, the Debtors will file
      a notice of settlement with the Court and serve that
      Settlement Notice on the Notice Parties.  The
      administrative agent to the DIP Lender, the Creditors and
      Asbestos PI Committees, and the Administrator will have 10
      days to object to the Settlement Notice.

  (h) Absent a Settlement Objection, the Reclamation Claim at
      issue will be allowed and treated in accordance with the
      Settlement Notice without further Court order, and the
      Debtors will remit payment to the Seller immediately.
      If a Settlement Objection is timely filed, the parties may
      negotiate a consensual resolution of that objection.

The Debtors believe the uninterrupted supply of raw materials and
other goods used in their manufacturing processes, including raw
materials and goods supplied by the Affiliated Entities, is
essential to providing continuity in their ongoing operations. The
agreement of suppliers to continue providing postpetition trade
credit is critical to the preservation of the Debtors' business as
a going concern and the value of the Debtors' assets, John R.
Miller, Jr., Esq., at Rayburn Cooper & Durham, P.A., in Charlotte,
North Carolina, asserts.

                      About Garlock Sealing

Headquartered in Palmyra, NY, Garlock Sealing Technologies LLC is
an EnPro Industries, Inc. company (NYSE: NPO).  For more than a
century, Garlock has been helping customers efficiently seal the
toughest process fluids in the most demanding applications.

On June 5, Garlock filed a voluntary Chapter 11 petition (Bankr.
W. D. N.C. Case No. 10-31607) in Charlotte to establish a trust to
resolve all current and future asbestos claims against Garlock
under Section 524(g) of the U.S. Bankruptcy Code.  The Debtor
listed $500,000,001 to $1,000,000,000 in assets and $100,000,001
to $500,000,000 in debts as of the Petition Date.  Affiliates The
Anchor Packing Company and Garrison Litigation Management Group,
Ltd., also filed for bankruptcy.

The filing covers only Garlock operations in Palmyra, New York and
Houston, Texas.  Garlock Rubber Technologies, Garlock Helicoflex,
Pikotek, Technetics, Garlock Europe and Garlock operations in
Canada, Mexico or Australia are not affected by the filing, nor is
EnPro Industries or any other EnPro operating subsidiary.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in its Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for Asbestos matters.

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


GARLOCK SEALING: Proposes to Honor Obligations to Sales Agents
--------------------------------------------------------------
Certain outside sales representatives located throughout the U.S.
promote and market Garlock Sealing Technologies, LLC's
manufacturing products for sale to customers.  Garlock pays the
Sales Reps a monthly commission based on their sales success from
the previous month.

On June 23, 2010, the Debtors made several inadvertent payments to
the Sales Reps for their sales commissions earned in May, totaling
$63,578.  The inadvertent payments are:

                                                Remaining
      Sales                 Inadvertent       Prepetition
      Representative            Payment           Balance
      --------------        -----------       -----------
      Paul Ernst              $10,241            $1,455
      Bob Coleates            $14,775            $2,388
      Intecx LLC               $5,091            $1,207
      Dick Pearson            $18,396            $1,398
      Paul Sachs              $11,940            $1,823
      Jerry Dickson            $3,133              $379

Shelley K. Abel, Esq., at Rayburn Cooper & Durham, P.A., in
Charlotte, North Carolina, tells the Court that the Inadvertent
Payments were made in error due to a misunderstanding by certain
employees of the Debtors regarding the Employee Obligations Order.
The Debtors were unable to put a stop on the Inadvertent Payments
because most were paid by ACH transactions or had otherwise
cleared Garlock's account at the time the error was discovered,
she relates.  The Debtors also owe additional accrued but unpaid
prepetition obligations to the Sales Reps for their services
during the few days of June before the Petition Date, totaling
$8,652.

According to the Debtors, the Sales Reps' services are integral to
the continued success of Garlock's enterprise, and the loyalty and
dedication of the Sales Reps are essential to the Debtors' efforts
to preserve and maximize the value of their businesses and assets.
For this reason, the Debtors ask the Court to:

  (i) ratify the Inadvertent Payments; and

(ii) authorize them to pay additional prepetition amounts owing
      to the Sales Reps in a timely manner.

Ms. Abel states that Section 507(a)(4)(B) of the Bankruptcy Code
provides that claims for sales commissions earned within 180 days
before the Petition Date have priority to the extent of $11,725
per individual corporation with only one employee.  With respect
to Paul Sachs, Dick Pearson, and Bob Coleates, who each received
Inadvertent Payments exceeding $11,725, the higher commissions
earned are a reflection of greater contribution of these Sales
Reps for the Debtors' sales, she points out.

Ms. Abel stresses that the commissions earned from the Debtors
represent more than 75% of the Sales Reps' incomes, except for
Intexc LLC.

At the Debtors' behest, the Court scheduled a hearing on the Sales
Reps Motion, on a shortened notice, for July 14, 2010.  Ms. Abel
explains that in the event the Debtors are required to recover the
Inadvertent Payments, they will need to proceed with that recovery
as soon as possible.

                      About Garlock Sealing

Headquartered in Palmyra, NY, Garlock Sealing Technologies LLC is
an EnPro Industries, Inc. company (NYSE: NPO).  For more than a
century, Garlock has been helping customers efficiently seal the
toughest process fluids in the most demanding applications.

On June 5, Garlock filed a voluntary Chapter 11 petition (Bankr.
W. D. N.C. Case No. 10-31607) in Charlotte to establish a trust to
resolve all current and future asbestos claims against Garlock
under Section 524(g) of the U.S. Bankruptcy Code.  The Debtor
listed $500,000,001 to $1,000,000,000 in assets and $100,000,001
to $500,000,000 in debts as of the Petition Date.  Affiliates The
Anchor Packing Company and Garrison Litigation Management Group,
Ltd., also filed for bankruptcy.

The filing covers only Garlock operations in Palmyra, New York and
Houston, Texas.  Garlock Rubber Technologies, Garlock Helicoflex,
Pikotek, Technetics, Garlock Europe and Garlock operations in
Canada, Mexico or Australia are not affected by the filing, nor is
EnPro Industries or any other EnPro operating subsidiary.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in its Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for Asbestos matters.

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


GARLOCK SEALING: Receives Approval to Pay Temporary Employees
-------------------------------------------------------------
Before the Petition Date, about 20 temporary and contract
employees were performing services for Garlock Sealing
Technologies LLC and its debtor-affiliates.  The temporary
employees consist of:

  * two temporary employees working on an independent contract
    basis -- the Contract Employees;

  * six temporary employees that were referred to the Debtors
    through YOH Services, LLC. -- the YOH Employees; and

  * 12 temporary employees that were referred to the Debtors
    through Meador Staffing Services -- the Meador Employees.

The Temporary Employees perform a variety of functions for the
Debtors, including, manufacturing, engineering, and generally
sustaining the Debtors' business operations through administrative
and accounting functions.  The number of Temporary Employees
fluctuates from time to time based on the Debtors' needs.

As of the Petition Date, the Debtors had accrued but unpaid salary
and wage obligations to the Temporary Employees consisting of:

                             Fee Period            Fees
                             ----------            ----
   Contract Employees        04/15/2010-        $15,400
                             06/04/2010

   YOH Employees             02/07/2010-         $3,215
                             05/05/2010

   Meador Employees          05/16/2010-         $6,375
                             05/23/2010

The Debtors do not anticipate that the Contract Employees will
submit additional invoices for prepetition services.  However, the
Debtors believe that YOH Services and Meador Staffing may submit
additional invoices for prepetition services of the YOH Employees
and Meador Employees.

Accordingly, the Debtors sought and obtained the court's approval
to continue to pay obligations to the Temporary Employees,
including all costs and expenses incident to them.

Ashley K. Neal, Esq., at Rayburn Cooper & Durham, P.A., in
Charlotte, North Carolina, points out that the continued use of
the Temporary Employees is essential to the Debtors' efforts to
preserve and maximize the value of their businesses and assets.

Any delay in honoring the obligations to the Temporary Employees
would harm the Debtors' employees' morale and result in
significant hardship to the Temporary Employees, at the very time
when their dedication and cooperation is most critical, he
stresses.

                      About Garlock Sealing

Headquartered in Palmyra, NY, Garlock Sealing Technologies LLC is
an EnPro Industries, Inc. company (NYSE: NPO).  For more than a
century, Garlock has been helping customers efficiently seal the
toughest process fluids in the most demanding applications.

On June 5, Garlock filed a voluntary Chapter 11 petition (Bankr.
W. D. N.C. Case No. 10-31607) in Charlotte to establish a trust to
resolve all current and future asbestos claims against Garlock
under Section 524(g) of the U.S. Bankruptcy Code.  The Debtor
listed $500,000,001 to $1,000,000,000 in assets and $100,000,001
to $500,000,000 in debts as of the Petition Date.  Affiliates The
Anchor Packing Company and Garrison Litigation Management Group,
Ltd., also filed for bankruptcy.

The filing covers only Garlock operations in Palmyra, New York and
Houston, Texas.  Garlock Rubber Technologies, Garlock Helicoflex,
Pikotek, Technetics, Garlock Europe and Garlock operations in
Canada, Mexico or Australia are not affected by the filing, nor is
EnPro Industries or any other EnPro operating subsidiary.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in its Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for Asbestos matters.

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


GENERAL GROWTH: Has Deal for New Loan From Barclays
---------------------------------------------------
Carla Main at Bloomberg News reports that General Growth
Properties Inc. said it has an agreement for a new $400 million
bankruptcy loan from Barclays Plc.  The Debtor seeks permission
from the Bankruptcy Court to use the new financing to replace its
existing $400 million bankruptcy loan.  General Growth said it
will save $2.7 million per month in interest payments under the
new agreement, "preserving capital," by paying the original loan.
The new financing comes with a 5.5% interest rate compared with a
variable interest rate under the existing loan, now at 13.5%.

                     About General Growth

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

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

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


GENERAL MOTORS: Said to Decide Against Putting Up Own Credit Unit
-----------------------------------------------------------------
General Motors Co. has decided against creating its own finance
unit and is instead talking with banks including JPMorgan Chase &
Co., Bank of America Corp. and Wells Fargo & Co. about bolstering
its lending capabilities, Bloomberg News reported, citing people
with direct knowledge of the decision said.

According to the Bloomberg report, people with knowledge of the
private discussions said the banks would write loans and leases on
cars, helping to spur sales.  Chief Executive Officer Ed Whitacre
aimed to get the automaker back into financing before its planned
initial public offering this year, people familiar with the
situation have said.

The Company considered buying back its former lending arm, GMAC
LLC, starting a bank or working with outside lenders to offer
customers more financing options, said three people with knowledge
of the discussions.

                         About General Motors

With its global headquarters in Detroit, Michigan, General Motors
Company -- http://www.gm.com/-- is one of the world's largest
automakers.  GM employs 207,000 people in every major region of
the world and does business in some 140 countries.  GM and its
strategic partners produce cars and trucks in 34 countries, and
sell and service these vehicles through the following brands:
Buick, Cadillac, Chevrolet, FAW, GMC, Daewoo, Holden, Opel,
Vauxhall and Wuling. GM's largest national market is the United
States, followed by China, Brazil, Germany, the United Kingdom,
Canada, and Italy.  GM's OnStar subsidiary is the industry leader
in vehicle safety, security and information services.

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

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

                   About Motors Liquidation

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

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

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


GHOST TOWN: Awaits Exit Plan Approval; Won't Open for 2010 Season
-----------------------------------------------------------------
A February mudslide has kept mountain-top theme park Ghost Town In
The Sky from opening for the 2010 season.

Jon Ostendorff at the Asheville Citizen-Times reports that the
park won't open this summer despite a plan to emerge from
bankruptcy that would have allowed it to operate.  A company
official told Asheville Citizen-Times that fixing the failed
retaining walls at the start of the slide and getting key rides
running again proved to be too much work this season.

The report says state environmental engineers were expected to
sign off on a repair plan on Friday, clearing the way for bids on
the $1.4 million job.  The federal government is paying for most
of the work.

The report also says the park's owner wants an alternative plan
that isn't ready for state approval, though Maggie Valley
officials say the delay would only be days.

Jacqueline Palank at Dow Jones Daily Bankruptcy Review notes Ghost
Town filed for Chapter 11 bankruptcy protection in March 2009,
immediately seeking approval of a loan it said was essential to
its ability to open that year.  In court papers, the park said it
had just reopened two years before after a five-year shutdown.

Ms. Palank says Ghost Town is currently awaiting bankruptcy court
approval of its plan to pay its creditors.

According to the Troubled Company Reporter on May 10, 2010, Eric
Morath at Dow Jones Daily Bankruptcy Review, citing the
Mountaineer of Waynesville, North Carolina, said that a bankruptcy
judge in Ashville approved the sale of Ghost Town in the Sky to
American Heritage Family Parks LLC for $7.5 million.

Based in Waynesville, North Carolina, Ghost Town Partners, LLC,
operates an amusement park.  The Debtor filed for Chapter 11
protection on March 11, 2009 (Bankr. W.D. N.C. Case No. 09-10271).
David G. Gray, Esq., at Westall, Gray, Connolly & Davis, P.A., and
William E. Cannon, Jr., at Brown, Ward & Haynes P.A., represent
the Debtor in its restructuring efforts.  In its bankruptcy
petition, the Debtor listed total assets of $13,035,300 and total
debts of $12,305,672.


GLACIER STONE: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Glacier Stone Supply LLC
        aka Montana Stone Supply
        955 Whitefish Stage Road
        Kalispell, MT 59901

Bankruptcy Case No.: 10-61638

Chapter 11 Petition Date: July 7, 2010

Court: United States Bankruptcy Court
       U.S. Bankruptcy Court, District of Montana (Butte)

Judge: Ralph B. Kirscher

Debtor's Counsel: James A. Patten, Esq.
                  Suite 300, The Fratt Bldg.
                  2817 2nd Ave N
                  Billings, MT 59101
                  Tel: (406) 252-8500
                  Fax: (406) 294-9500
                  E-mail: japatten@ppbglaw.com

Scheduled Assets: $5,241,265

Scheduled Debts: $7,769,567

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/mtb10-61638.pdf

The petition was signed by David A. Wilkins, president.


GLOBAL ENERGY: Plan Contemplates Sale of Property to Pay Claims
---------------------------------------------------------------
Global Energy Holdings Group, Inc., et al., filed with the U.S.
Bankruptcy Court for the District of Delaware a Disclosure
Statement explaining their proposed Chapter 11 Plan.

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

According to the Disclosure Statement, the Plan contemplates the
consolidation of the Debtors' estates for the purposes of all
actions associated with confirmation and consummation of the Plan
and Plan distributions.  The Plan is also predicated upon the
Debtors' sale of its property.  The net cash proceeds of any of
the sale transactions, after deduction of reasonable and customary
closing costs, will be used to pay allowed claims of creditors.

Under the Plan, the Debtor will treat claims as:

Class 1 - General Unsecured Claims ($3.5 - 4.0 million)  -- each
          holder of allowed unsecured claims will be paid in cash
          its pro rata share of the then available Class 1
          Distribution from the liquidating trust.

Class 2 - Equity Interests -- will be cancelled on the effective
          date.

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

The Debtors are represented by:

     Charles J. Brown III, Esq.
     Archer & Greiner, P.C.
     300 Delaware Avenue, Suite 1370
     Wilmington, DE 19801
     Tel: (302) 777-4350
     Fax: (302) 777-4352
     E-mail: cbrown@archerlaw.com

     Gayle Ehrlich, Esq.
     Christopher M. Gosselin, Esq.
     Sullivan & Worcester LLP
     One Post Office Square
     Boston, MA 02109
     Tel: (617) 338-2800
     Fax: (617) 338-2880
     E-mail: gehrlich@sandw.com
     E-mail: cgosselin@sandw.com

Atlanta, Georgia-based Global Energy Holdings Group, Inc. --
http://www.gnhgroup.com/-- is a diversified renewable energy
company.  Global develops renewable energy projects, including
biomass gasification and landfill-gas-to-energy projects.

The Company filed for Chapter 11 on November 25, 2009 (Bankr. D.
Del. Case No. 09-14192).  Charles J. Brown, Esq. at Archer &
Greiner, P.C. represents the Debtor in its restructuring effort.
As of Sept. 30, 2009, the Debtor listed total assets of
$10.30 million and total debts of $5.27 million.


GRAND DEVELOPMENT: Case Summary & 4 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: The Grand Development Group, L.L.C.
        6400 Desiree Drive
        Norman, OK 73071

Bankruptcy Case No.: 10-14175

Chapter 11 Petition Date: July 8, 2010

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

Judge: Niles L. Jackson

Debtor's Counsel: O. Clifton Gooding, Esq.
                  The Gooding Law Firm
                  1200 City Place Building
                  204 N Robinson Avenue
                  Oklahoma City, OK 73102
                  Tel: (405) 948-1978
                  Fax: (405) 948-0864
                  E-mail: cgooding@goodingfirm.com

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

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

According to the schedules, the Company says that assets total
$5,134,100 while debts total $6,275,312

A copy of the Company's list of 4 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/okwb10-14175.pdf

The petition was signed by Jerl Methvin, member manager.


LAKE COUNTRY GRAPEVINE: Case Summary & Creditors List
-----------------------------------------------------
Debtor: Lake County Grapevine Nursery Operations,
        a Limited Liability Company
        4887 New Long Valley Road
        Clearlake Oaks, CA 95423

Bankruptcy Case No.: 10-12578

Chapter 11 Petition Date: July 7, 2010

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

Judge: Alan Jaroslovsky

Debtor's Counsel: Douglas B. Provencher, Esq.
                  Law Offices of Provencher and Flatt
                  823 Sonoma Avenue
                  Santa Rosa, CA 95404
                  Tel: (707) 284-2380
                  E-mail: dbp@provlaw.com

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

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

A copy of Lake County Grapevine Nursery Operations' list of 20
largest unsecured creditors filed together with the petition is
available for free at http://bankrupt.com/misc/canb10-12578.pdf

The petition was signed by Eckhard kaesekamp, member.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                  Petition
  Debtor                               Case No.     Date
  ------                               --------     ----
Lake County Grapevine Nursery LLC      10-12579   7/7/2010
  Assets: $1,000,001 to $10,000,000
  Debts: $1,000,001 to $10,000,000


GREAT CANADIAN: S&P Raises Corporate Credit Rating to 'BB+'s
-----------------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
and issue-level ratings on Richmond, Canada-based gaming and
entertainment operator Great Canadian Gaming Corp. by one notch.
S&P raised the corporate credit rating to 'BB+' from 'BB'.  The
rating outlook is stable.

"The ratings upgrade reflects improvement in GCG's cash flow
generation through its cost-control initiatives despite a
challenging revenue environment," said Standard & Poor's credit
analyst Melissa Long.  GCG outperformed S&P's expectations in 2009
as adjusted EBITDA (which includes Facility Development Commission
receipts from British Columbia Lottery Corp. and reimbursements
from the Nova Scotia Gaming Corp. increased about 6% and EBITDA
continued to grow in the first quarter.  In addition, the
company's financial profile improved as GCG has used cash flow to
repay CAD$48 million of borrowings on its revolver since the first
quarter of 2009.

"Furthermore," added Ms. Long, "S&P expects that this improvement
to GCG's financial profile will be sustainable and that, under
S&P's assumptions for operating performance, capital spending, and
share repurchases, the company will maintain leverage over the
intermediate term in the low-3x area."


HERTZ CORP: Avis Prepares Offer to Top $1.2-Bil. Bid for DTAG
-------------------------------------------------------------
According to The Wall Street Journal's Gina Chon and Anupreeta
Das, people familiar with the matter said Monday Avis Budget Group
Inc. is proceeding with plans to make an offer for Dollar Thrifty
Automotive Group Inc. that would top rival Hertz Global Holdings
Inc.'s $1.2 billion bid.  The sources said Avis is looking to take
on more debt to finance the deal.  The sources said Avis would
present an offer perhaps in late July or early August.

According to the report, people familiar with the matter said Avis
asked its lenders to amend its credit agreement that would allow
Avis to borrow more money to finance the Dollar Thrifty bid.
Sources told the Journal cash will make up the bulk of Avis' bid.
Hertz's offer is made up of 80% cash and 20% stock.

Avis has concluded its due diligence on Dollar Thrifty.  Sources
told the Journal Avis' decision to take on more debt shows how
serious it is about its Dollar Thrifty offer.

Dollar Thrifty set an August 18 date for shareholders to vote on
its proposed sale to Hertz, which offered $41 a share, or about
$1.2 billion.

"Right now we are totally focused on that Aug. 18 vote.  There is
nothing else to be prepared for at this point," says Richard
Broome, a spokesman for Hertz, according to the Journal.  "What do
you do? How do you deal with some phantom offer that people talk
about but never gets made?" he says.

Avis declined to comment.

The Journal notes under its agreement with Dollar, Hertz has 48
hours to respond to an Avis bid.

                         Hertz Merger Deal

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.  The $41.00 per share purchase price is
comprised of 80% cash consideration and 20% stock consideration.

Hertz will also assume or refinance Dollar Thrifty's existing
fleet debt, outstanding at closing.  Upon the close of the
transaction, Dollar Thrifty stockholders will own 5.5% of the
combined company on a diluted basis.  Dollar Thrifty will become a
wholly owned subsidiary of Hertz and Dollar Thrifty common stock
will cease trading on the NYSE.

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 Avis Budget Group

Avis Budget Group -- http://www.avisbudgetgroup.com/-- provides
vehicle rental services, with operations in more than 70
countries.  Through its Avis and Budget brands, the Company is a
leading vehicle rental company in each of North America,
Australia, New Zealand and certain other regions based on
published airport statistics.  Avis Budget Group is headquartered
in Parsippany, N.J. and has more than 22,000 employees.

At March 31, 2010, the Company had total assets of $10.257 billion
against total current liabilities of $1.328 billion, total
liabilities exclusive of liabilities under vehicle programs of
$4.044 billion and liabilities under vehicle programs of $5.987
billion, resulting in stockholders' equity of $226 million.

                           *     *     *

Avis Budget Car Rental LLC continues to carry Moody's Investors
Service's B2 corporate family rating.  Avis Budget Group Inc.
carries Standard & Poor's Ratings Services' B+ corporate credit
rating.

                         About Hertz Corp.

Hertz Corporation, headquartered in Park Ridge, New Jersey, is an
automobile and equipment rental company.

Hertz carries Moody's B1 Corporate Family Rating and Probability
of Default Rating.

                       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'.


HOLLYWOOD HILLS: Case Summary & 15 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Hollywood Hills Development Inc.
        5141 Shenandoah Avenue, Suite 61
        Jacksonville, FL 32254

Bankruptcy Case No.: 10-05863

Chapter 11 Petition Date: July 7, 2010

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

Judge: Chief Paul M. Glenn

Debtor's Counsel: Bryan K. Mickler, Esq.
                  5452 Arlington Expressway
                  Jacksonville, FL 32211
                  Tel: (904) 725-0822
                  Fax: (904) 725-0855
                  E-mail: court@planlaw.com

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

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

According to the schedules, the Company says that assets total
$8,490,606 while debts total $7,770,227.

A copy of the Company's list of 15 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/flmb10-05863.pdf

The petition was signed by Shimon Buhadana, president.


IMPLANT SCIENCES: Names Roger Deschenes as Chief Financial Officer
------------------------------------------------------------------
Board of Directors of Implant Sciences Corporation named Roger P.
Deschenes as the Company's Chief Financial Officer, effective as
of July 5, 2010.

Mr. Deschenes has more than 25 years of accounting and financial
leadership experience with publicly traded and private companies.
Mr. Deschenes joined the Company in June 2008 as Controller and
was promoted to Vice President, Finance in January 2009.  Prior to
joining Implant Sciences, Mr. Deschenes served as Vice President,
Finance with Beacon Roofing Supply, Inc., a supplier of roofing
material and related products in North America from April 2006 to
December 2007.

From July 1990 to March 2006, Mr. Deschenes served in several
senior accounting and financial capacities at Saucony, Inc.,
including: Vice President, Controller, Chief Accounting Officer
and Assistant Treasurer.  Mr. Deschenes received a Bachelor of
Science degree in Business Administration from Salem State College
and is a Certified Management Accountant.

                      About Implant Sciences

Implant Sciences Corporation (OBB: IMSC.OB) --
http://www.implantsciences.com/-- develops, manufactures and
sells sensors and systems for the security, safety and defense
(SS&D) industries.

As of December 31, 2009, the Company had $5,475,000 in total
assets against $12,995,000 in total liabilities, $5,000,000 in
Series E Convertible Preferred Stock, and $378,000 in Series F
Convertible Preferred Stock, resulting in stockholders' deficit of
$12,898,000.

As reported by the Troubled Company Reporter on January 15, 2010,
Implant Sciences renegotiated its credit agreements with its
senior secured investor, DMRJ Group LLC.  DMRJ increased Implant
Sciences' line of credit from $3,000,000 to $5,000,000; extended
the maturity of all of Implant Sciences' indebtedness from
December 10, 2009, to June 10, 2010; waived all existing defaults
through the new maturity date; reduced the interest rate payable
on Implant Sciences' obligations to 15% per annum; and removed all
profit sharing arrangements from the agreements.  Implant
Sciences' total indebtedness to DMRJ, including all principal and
accrued interest, now stands at $7,570,000.


IMPLANT SCIENCES: Resolves Evans Analytical Group Litigation
------------------------------------------------------------
Implant Sciences Corporation reported the successful resolution of
litigation stemming from its sale of Accurel Systems International
to Evans Analytical Group in 2007.  As a result of this action,
1,000,000 shares of Implant Sciences Series E preferred stock held
in escrow have been cancelled.  The total value of the cancelled
shares was $5 million.

"We are delighted with the successful outcome of this litigation.
Implant was found to be completely exonerated and the Series E
stock that we pledged has been completely eliminated," stated
Implant Sciences CEO Glenn Bolduc.  "This removes a significant
overhang on the stock. We commend our legal team at Cooley LLP in
San Francisco for their work and guidance."

Gordon Atkinson of Cooley LLP commented, "I am very pleased that
we were able to resolve this litigation in a manner that was
favorable to Implant.  We are especially lucky to have been
involved with such a smart, principled and creative client group,
all of whom helped us immeasurably as we worked together to
resolve this complicated and hard-fought litigation.  We at Cooley
LLP extend our most heartfelt congratulations to Implant, and we
look forward to watching the company take off now that this
overhang has been eliminated."

                      About Implant Sciences

Implant Sciences Corporation (OBB: IMSC.OB) --
http://www.implantsciences.com/-- develops, manufactures and
sells sensors and systems for the security, safety and defense
(SS&D) industries.

As of December 31, 2009, the Company had $5,475,000 in total
assets against $12,995,000 in total liabilities, $5,000,000 in
Series E Convertible Preferred Stock, and $378,000 in Series F
Convertible Preferred Stock, resulting in stockholders' deficit of
$12,898,000.

As reported by the Troubled Company Reporter on January 15, 2010,
Implant Sciences renegotiated its credit agreements with its
senior secured investor, DMRJ Group LLC.  DMRJ increased Implant
Sciences' line of credit from $3,000,000 to $5,000,000; extended
the maturity of all of Implant Sciences' indebtedness from
December 10, 2009, to June 10, 2010; waived all existing defaults
through the new maturity date; reduced the interest rate payable
on Implant Sciences' obligations to 15% per annum; and removed all
profit sharing arrangements from the agreements.  Implant
Sciences' total indebtedness to DMRJ, including all principal and
accrued interest, now stands at $7,570,000.


INFOLOGIX INC: Hercules Reports 66.4% Equity Stake
--------------------------------------------------
Hercules Technology I, LLC, and Hercules Technology Growth
Capital, Inc., disclosed that as of June 7, 2010, they may be
deemed to beneficially own 2,479,280 shares or roughly 66.4% of
Common Stock of InfoLogix, Inc.

On April 6, 2010, the Company and its subsidiaries and Hercules
entered into Amendment No. 2 to the parties' Amended and Restated
Loan and Security Agreement.  Pursuant to A/R Amendment No. 2,
Hercules funded a term loan in an original principal amount of
$1.35 million.  Term Loan C may be converted into shares of the
Company's Common Stock at a price of $3.276 per share at any time
at Hercules' option.

A/R Amendment No. 2 also amends the Loan Agreement so that
Hercules now has the option, in its sole discretion, to require
any and all interest on Term Loan B to be paid in cash, in kind or
in shares of Common Stock.  The number of shares into which
accrued interest will be converted will be determined based on the
Adjusted 60-Day Average Price of the Common Stock on the date of
Hercules' election to convert the interest into shares.

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

Hercules is the beneficial owner of, and has sole voting and
dispositive power with respect to 7,546 shares of Common Stock and
is the beneficial owner of and has shared voting and dispositive
power with respect to, 1,806,332 shares of Common Stock owned by
HTI and 672,948 shares of Common Stock issuable upon exercise of
the Warrant owned by HTI.

HTI is the beneficial owner of, and has shared voting and
dispositive power with respect to, 1,806,332 shares of Common
Stock and 672,948 shares of Common Stock issuable upon exercise of
the Warrant.

                      About InfoLogix Inc.

Based in Hatboro, Pennsylvania, InfoLogix, Inc. (NASDAQ: IFLG) --
http://www.infologix.com/-- provides end-to-end solutions for
electronic medical record and supply chain implementation and
mobilization, with experience in over 2,200 hospitals and
businesses nationwide.  InfoLogix assists its healthcare and
commercial customers by implementing and optimizing EMR and SCM
systems, offers mobility to caregivers and workforces by making
data accessible directly at the point of care or point of
activity, and manages operations with services to improve clinical
and financial performance and supply chain with services to drive
greater efficiency.

The Company's balance sheet at March 31, 2010, showed
$34.0 million in total assets and $39.0 million in total
liabilities, for a total stockholders' deficit of $4.9 million.

McGladrey & Pullen, LLP, in Blue Bell, Pa., expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that the Company has suffered
recurring losses from operations, has negative working capital and
an accumulated deficit as of December 31, 2009.


INTERGRAPH CORPORATION: Hexagon Deal Won't Affect Moody's Rating
----------------------------------------------------------------
Moody's Investors Service commented that Intergraph Corporation's
ratings will be unaffected by its announcement on July 7, 2010,
that the Company has agreed to be acquired by Sweden-based Hexagon
AB for a total purchase price of $2.125 billion.  Hexagon AB is
not rated by Moody's.

Reportedly, all outstanding borrowings under Integraph's existing
senior credit facilities will be repaid as per the change of
control provision contained in the Company's credit agreements.
As a result, Moody's expects to withdraw the ratings upon closing
of the acquisition and permanent repayment of all rated credit
facilities.

The current ratings for Integraph Corporation are:

* Corporate Family Rating -- B2

* Probability of Default Rating -- B2

* $75 million Senior Secured Revolving Credit Facility -- B1,
  LGD3, 39%

* $652 million Senior Secured 1st lien Term Loan -- B1, LGD3, 39%

* $200 million Senior Secured 2nd lien Term Loan -- Caa1, LGD6,
  90%

The ratings outlook is stable.

The last rating action for Intergraph was on February 18, 2010
when Moody's downgraded the Company's corporate family rating to
B2 with a stable ratings outlook, in connection with Company's
announcement to raise debt to fund dividend payout.

Huntsville, Alabama based Intergraph is a leading provider of
spatial information management software and systems.  It generated
revenues of $792 million in the LTM 1Q 2010 period.  In November
2006, the Company was acquired by a consortia of private equity
investors including Hellman & Friedman LLC, Texas Pacific Group,
and JMI equity for $1.3 billion.


INTERTAPE POLYMER: S&P Hikes Outlook on 'CCC+' Rating to Positive
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that it revised its
outlook on Intertape Polymer Group Inc. to positive from negative.
At the same time, S&P affirmed its ratings, including its 'CCC+'
corporate credit rating, on the company and its subsidiary
IntertapePolymer U.S. Inc.

"The outlook revision reflects some improvement in the company's
liquidity position and S&P's expectation that the improvement to
the financial profile will continue into the next several
quarters," said Standard & Poor's credit analyst Paul Kurias.

Liquidity was constrained through most of 2009 because the company
did not meet a springing covenant requirement that reduced
availability under a $200 million asset-based loan (ABL) facility
by $25 million.  The facility is a key source of liquidity, and
availability under this facility declined to about $5 million in
2009.  However, beginning in the fourth quarter of 2009 the
company has exceeded the springing covenant requirement releasing
the $25 million in liquidity.  As of March 31, 2010, availability
was $42 million.

In addition, the prospects for improved stability in earnings and
positive free cash flow generation suggest that liquidity could be
bolstered in coming quarters.  Still, S&P expects overall
liquidity to remain weak and earnings and cash flow to remain
vulnerable to unexpected reversals in the company's improving
operating environment.

The ratings reflect the company's highly leveraged financial
profile, weak liquidity, and vulnerable business position,
including a limited scope of operations in the tapes niche of the
North American packaging sector, a small presence in films, low
margins with some volatility in earnings, and vulnerability to
cyclical end markets such as housing.  The company's competitive
position in its market niches and positive long-term growth
prospects for industrial tape demand in North America are partly
mitigating factors.


ISTAR FINANCIAL: S&P Cuts Counterparty Credit Rating to 'CCC'
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it lowered its long-
term counterparty credit rating on iStar Financial Inc. to 'CCC'
from 'B-'.  At the same time, S&P lowered the senior unsecured
debt rating to 'CCC-' from 'CCC+.' The outlook is negative.

iStar's limited funding flexibility and the severe credit quality
deterioration in its loan portfolio continue to put negative
pressure on the rating.  "S&P's analysis indicates that the firm
should not become insolvent and has ample liquidity to operate
through 2010, but management faces a significant challenge with
$3.0 billion in debt coming due in 2011 and $3.5 billion due in
2012," said Standard & Poor's credit analyst Jeffrey Zaun.  In the
longer term, the company's concentration in highly cyclical
commercial real estate will limit the ratings.  Although credit-
market turmoil and a severe recession impeded capital formation
through 2009, the firm's capital ratios improved slightly in
first-quarter 2010.  Management has been able to execute a rapid
pull-back in operations through a protracted and severe recession
in CRE markets.

As of March 31, 2010, troubled assets (nonperforming loans, watch-
list loans, foreclosed real estate, and real estate held for
investment) had decreased to $5.5 billion or 44% of loans,
corporate tenant leases, and foreclosed real estate.  In the year
to March 31, 2010, the firm was able to service debt and meet its
funding commitments by selling about $900 million in assets and
raising $1.0 billion of secured debt.  Pressure from funding
commitments has abated, the volume of troubled loans has declined,
and the firm's capital ratios began to improve in first-quarter
2010.

In June 2010, iStar closed on the sale of a portion of its CTL
portfolio for $1.4 billion.  It used proceeds from the sale to pay
down $925 million of debt due 2011 that had been collateralized by
the properties sold.  The remaining proceeds should provide
adequate liquidity through 2010, and the gain of more than
$240 million provides additional headroom over the maintenance-
covenant requirement of $1.5 billion.  Thus, to its credit, iStar
has been able to maintain both adequate capital and a modicum of
immediate funding flexibility in a very difficult environment.

Despite these improvements, however, pressure on the rating has
increased because S&P would view the likely restructuring of debt
coming due during 2011 as a distressed debt exchange.

S&P's negative outlook reflects both the likelihood that iStar
will meet its obligations through 2010 and the likelihood that the
firm will need to restructure $3.0 billion of debt coming due in
2011 and/or $3.5 billion due in 2012.  Both the rating and the
outlook reflect the possibility that S&P will view the firm's debt
restructuring as a distressed exchange because it will extend
maturities on some debt.  Neither the counterparty credit rating
nor the outlook impute any view on investors' recovery in the
event of a default or distressed exchange.  S&P could downgrade
iStar to 'CC' if the firm announces a restructuring that S&P views
as a distressed exchange.  If a distressed debt exchange occurs,
S&P would place the counterparty rating at 'SD.'  After the
exchange, S&P will assign a counterparty rating based on its
assessment of iStar's revised capital structure and liquidity as
well as asset quality trends in the firm's portfolio.


IZZUDDIN AHMED: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Izzuddin Ahmed
          dba A&I Properties
              Cigarette Depot
        3239 Monterey Boulevard
        Oakland, CA 94602-3561

Bankruptcy Case No.: 10-47690

Chapter 11 Petition Date: July 7, 2010

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

Judge: Leslie J. Tchaikovsky

Debtor's Counsel: Ted Z. Wolny, Esq.
                  Miller Wolny Legal Group
                  P.O. Box 3579
                  San Leandro, CA 94578
                  Tel: (510) 346-5800
                  E-mail: tedwolny@gmail.com

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

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

According to the schedules, the Debtor says that assets total
$4,613,850 while debts total $4,108,065.

A copy of the Debtor's list of 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/canb10-47690.pdf

The petition was signed by the Debtor.


JDG INVESTMENTS: Case Summary & 11 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: JDG Investments, Inc.
        P.O. Box 595
        Selma, NC 27576

Bankruptcy Case No.: 10-05450

Chapter 11 Petition Date: July 8, 2010

Court: U.S. Bankruptcy Court
       Eastern District of North Carolina (Wilson)

Judge: Randy D. Doub

Debtor's Counsel: Jason L. Hendren, Esq.
                  Hendren & Malone, PLLC
                  4600 Marriott Drive, Suite 150
                  Raleigh, NC 27612
                  Tel: (919) 573-1422
                  Fax: (919) 420-0475
                  E-mail: bwood@hendrenmalone.com

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

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

According to the schedules, the Company says that assets total
$17,059,042 while debts total $18,245,775.

The petition was signed by Donald E. Millard, president.

Debtor's List of 11 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
KS Bank                            65 acres of          $1,102,500
P.O. Box 661                       undeveloped land
Smithfield, NC 27577

S.T. Wooten Corporation            39 fully               $806,003
P.O. Box 2408                      developed
Wilson, NC 27894-2408              family lots

Four Oaks Bank                     19 fully               $749,909
P.O. Box 309                       developed
Four Oaks, NC 27524                family lots

Pomona Pipe Products               Materials               $25,487

NC Dept of Revenue-Franchise Dept  Franchise Tax            $4,349

Neal C. Floyd & Assoc, Inc.        Soil Scientist           $3,900

Final Grade, Inc.                  Lawn Service             $3,000

Jerry Ball Land Surveying          Surveying                $2,600

Dees Jackson Jackson & Assoc PA    Accounting               $1,483

Southwind Surveying & Eng, Inc.    Surveying                  $951

Smithfield Sign Design, Inc.       Signs                      $311


KENNETH STARR: Receiver Sues Martin Scorsese in NY State Court
--------------------------------------------------------------
Zach Lowe at The American Lawyer reports that Aurora Cassirer,
Esq., partner at Troutman Sanders, acting as receiver in the case
of Kenneth Starr, has filed suit against Martin Scorsese, claiming
the director's production company owes Mr. Starr nearly $600,000.

The complaint was filed Thursday before the Supreme Court of the
State of New York, County of New York (Commercial Division).  A
full-text copy of the complaint is available at http://is.gd/doRnR

The complaint says Mr. Scorsese promised to pay Mr. Starr 5% of
his income in exchange for Mr. Starr's financial management
services.  But the manager in charge of Mr. Scorsese's account
bolted Mr. Starr's company in January, about the time that clients
began asking questions about why funds were coming and going from
their bank accounts without authorization, court records show.
The Starr exile took Mr. Scorsese's business to another firm, and
Mr. Scorsese has since refused to pay Mr. Starr per the terms of
their prior deal.  Mr. Scorsese has offered to pay a lesser
amount.

Mr. Lowe reports that Ms. Cassirer said:

     -- has not been contacted by an attorney for Mr. Scorsese;
     -- at a hearing Thursday in federal court in Manhattan, a
        judge agreed to stay the civil case against Mr. Starr so
        the criminal case can proceed without overlap; and

     -- the judge agreed to let Ms. Cassirer continue her
        investigation.

Mr. Starr, a financial adviser, is accused of misappropriating at
least $30 million in client money to fund his lavish lifestyle.


KIEBLER RECREATION: Can Access Lenders' Cash Until August 24
------------------------------------------------------------
The Hon. Randolph Baxter of the U.S. Bankruptcy Court for the
Northern District of Ohio authorized, on a third interim basis,
Kiebler Recreation, LLC, to access the cash collateral in which
The Huntington National Bank and PNC Bank may assert an interest.

As reported in the Troubled Company Reporter on June 8, these
parties may assert an interest in the Debtor's assets: (i)
the Huntington National Bank; and (ii) PNC Bank, members of the
Cross family, parties to capital leases and certain taxing
authorities.  Of the Secured Creditors, only Huntington may assert
an interest in the Debtor's cash.  The Debtor owes Huntington
$15.6 million.

A final hearing on the Debtor's cash collateral use will be held
on August 24, at 10:30 a.m. at the United States Bankruptcy Court,
Howard M. Metzenbaum U.S. Courthouse, 201 Superior Ave.,
Cleveland, Ohio 44114-1235, Room 220.  Objections, if any, are due
on August 17.

The Debtor would use the cash collateral to operate the Debtor's
business in the ordinary course, including to pay its actual,
necessary, ordinary course operating expenses until August 13.

In exchange for using the cash collateral, the Debtor will grant
Huntington replacement liens and superpriority administrative
expense claims.

                     About Kiebler Recreation

Findley Lake, New York-based Kiebler Recreation, LLC, dba Peek'n
Peak Resort, filed for Chapter 11 bankruptcy protection on May 26,
2010 (Bankr. N.D. Ohio Case No. 10-15099).  Robert C. Folland,
Esq., at Thompson Hine LLP, assists the Company in its
restructuring effort.  The Company estimated its assets and debts
at $10,000,001 to $50,000,000.

The Company's affiliate, Kiebler Slippery Rock, LLC, filed a
separate Chapter 11 petition on September 25, 2009 (Case No. 09-
19087).


LEHIGH VALLEY: Case Summary & 11 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Lehigh Valley Portfolio, LP
        295 Madison Avenue, 2nd Floor
        New York, NY 10017

Bankruptcy Case No.: 10-13630

Chapter 11 Petition Date: July 8, 2010

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

Debtor's Counsel: Joseph S. Maniscalco, Esq.
                  LaMonica Herbst & Maniscalco
                  3305 Jerusalem Avenue
                  Wantagh, NY 11793
                  Tel: (516) 826-6500
                  Fax: (516) 826-0222
                  E-mail: jsm@lhmlawfirm.com

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

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

The petition was signed by Herman Carlinsky, authorized agent.

Debtor-affiliates filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Center Valley Portfolio, LP           --                  07/08/10
Bethlehem Portfolio, LP               --                  07/08/10
Allentown Portfolio, LP               --                  07/08/10
South Commerce Portfolio, LLLP        --                  07/08/10
Pennsylvania Portfolio Owner, LP      --                  07/08/10

Debtor's List of 11 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Philip Pilevsky                    --                     $629,234
295 Madison Avenue, 2nd Floor
New York, NY 10017

JS Barkats PLLC                    --                      $90,500
100 Church Street, 8th Floor
New York, NY 10007

Robyn Tuerk, Esq                   --                      $65,000
205 East 78th Street, Apartment 16T
New York, NY 10075

First American Professional        --                      $65,000
RE Services

Holtz Rubenstein Reminick          --                      $45,000

Langan Engineering & Environmental --                      $39,400
Services

Arcadis U.S. Inc.                  --                      $35,750

Margolin Winer & Evans             --                      $14,000

Margaret McGown                    --                      $13,455

Corporation Service Company        --                       $4,687

Santana Investments                --                         $354


LEMAN ALIOU: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Leman M. Aliou
          aka Leman Moussa Aliou
        Crystal Bivens-Leman
        23003 Lois Lane
        Ashburn, VA 20148

Bankruptcy Case No.: 10-15771

Chapter 11 Petition Date: July 8, 2010

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

Judge: Robert G. Mayer

Debtor's Counsel: John L. Lilly, Jr., Esq.
                  The Lilly Law Group, PC
                  10195 Main Street, Suite I
                  Fairfax, VA 22031
                  Tel: (571)432-0300
                  Fax: (571)432-0301
                  E-mail: john@thelillylawgroup.com

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

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

According to the schedules, the Debtors say that assets total
$1,474,422 while debts total $2,171,924.

A copy of the Joint Debtors' list of 20 largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/vaeb10-15771.pdf

The petition was signed by the Joint Debtors.


LENNY DYKSTRA: Bankruptcy Trustee Seeks Settlement Approval
-----------------------------------------------------------
Carla Main at Bloomberg News reports that the trustee for the
bankruptcy estate of Lenny Dykstra asked the U.S. Bankruptcy Court
in San Fernando Valley, California, on July 7 to approve a
settlement with Index Investors.  Index would receive $70,000 from
the proceeds of an expected settlement with Fireman's Fund that is
to be paid into the estate.  Index made loans to Mr. Dykstra of
$370,000, $235,000 and $165,000.  The settlement also resolves a
lawsuit brought by Mr. Dykstra against Index.

                        About Lenny Dykstra

Lenny Dykstra is a former Major League Baseball all-star player.
He was center fielder for the New York Mets and Philadelphia
Phillies.  He filed for Chapter 11 bankruptcy protection July 7,
2009 (Bankr. C.D. Calif. Case No. 09-18409).  M Jonathan Hayes,
Esq., at the Law Office of M Jonathan Hayes, in Northridge,
California, assisted the Debtor in his restructuring effort.  The
Debtor listed up to $50,000 in assets and $10,000,001 to
$50,000,000 in debts.

A Chapter 11 trustee was appointed in September 2009, and the case
was converted to a liquidation in Chapter 7 on November 20, 2009.
The trustee -- Arturo M. Cisneros -- was investigating the
disposition of personal property both before and after the Chapter
11 filing.


LESARRA ATTACHED: to Pay Creditors from Sale of Condominium Units
-----------------------------------------------------------------
Lesarra Attached Homes, L.P., filed with the U.S. Bankruptcy Court
for the District of Nevada a proposed Plan of Reorganization and
an explanatory Disclosure Statement.

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

According to the Disclosure Statement, the Plan provides for the
sale of the Lesarra units to El Dorado Enterprises.

Under the Plan, the Debtor proposes to treat claims as:

Class 1 - Secured Claim of Compass Bank - Compass Bank will retain
          its existing security interest upon improved real
          property consisting of 15 completed condominium units
          and partially improved real property consisting of 105
          units with foundations only.  The secured obligation to
          the Class 1 creditors will be paid by the sale of the
          units, both improved and partially improved, to El
          Dorado Enterprises.

Class 2 - Secured Claim Claim of ORA Residential Investments, L.P.
          - ORA will release its existing security interest
          consisting of a second priority deed of trust recorded
          against the Lesarra property, upon the confirmation of
          the Plan and the full amount of the claim will be
          treated as a Class 5 General unsecured claim to be paid
          on a pro rata basis with other allowed general unsecured
          claims.

Class 3 - Secured Claim of Lesarra Homeowners Association - The
          claim of Lesarra HOA will be paid in full.

Class 4 - El Dorado County Treasurer & Tax Collector - The claim
          will be paid in full.

Class 5 - General Unsecured Claims - The claim will be paid by
          the Debtor, with interest at rate of 0% per annum.  Upon
          the sale of any unit, purchaser, or nominee, will pay
          the Debtor 5% of the gross sales price.  The sum will be
          distributed pro rata to the allowed general unsecured
          claim.

Class 6 - Partnership Interest of the Debtor - Interest will
          retain their existing general or limited partnership
          interest in the Debtor, but will receive no distribution
          until Classes 1 to 5 are paid in full.

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

The Debtor is represented by:

     Belding, Harris & petroni, Ltd.
     Stephen R. Harris, Esq.
     417 West Plumb Lane
     Reno, NV 89509
     Tel: (775) 786-7600
     Fax: (775) 786-7764
     E-mail: steve@renolaw.biz

                    About Lesarra Attached Homes

Reno, Nevada-based Lesarra Attached Homes, L.P., filed for Chapter
11 bankruptcy protection on March 12, 2010 (Bankr. D. Nev. Case
No. 10-50808).  Stephen R. Harris, Esq., at Belding, Harris &
Petroni, Ltd, 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.


LESLIE CONTROLS: CIRCOR Unit Files for Chapter 11 with Plan
-----------------------------------------------------------
CIRCOR International, Inc., disclosed a major development in its
effort to stem mounting asbestos litigation costs and resolve
asbestos liability claims at its Leslie Controls, Inc. subsidiary.

Leslie filed a pre-negotiated plan of reorganization as a
voluntary petition under Chapter 11 of the U.S. Bankruptcy Code in
U.S. Bankruptcy Court for the District of Delaware.  Supported by
a committee of attorneys representing current asbestos claimants
and a proposed independent representative of future claimants, the
plan is intended to permanently resolve Leslie's asbestos
liability through the creation of a trust pursuant to Section
524(g) of the U.S. Bankruptcy Code.  All current and future
asbestos claims against Leslie would be channeled to the trust for
review and payment, thus providing both Leslie and CIRCOR with
permanent court protection from such claims.

"Because we strongly believe that exposure to Leslie's products
has not caused any asbestos-related illness, our strategy has been
to vigorously defend these claims," said CIRCOR Chairman and Chief
Executive Officer Bill Higgins.  "However, the cost of this
defense has exceeded the profits generated by Leslie's operations,
and we have been considering for some time a range of strategic
alternatives that would enable us to permanently eliminate this
expense and risk.  Resolving Leslie's asbestos liability through a
pre-negotiated plan of reorganization accomplishes that aim, while
preserving the value of a strong and viable business."

"We believe that a 524(g) trust that equitably resolves all
pending and future claims and provides CIRCOR with permanent
protection from derivative claims is in the best interest of all
our stakeholders, including CIRCOR's shareholders and Leslie's
customers, suppliers and employees," Higgins continued.
"Unencumbered by financial and legal exposure to asbestos
liability, Leslie will be positioned to grow and contribute to
CIRCOR's profitability and cash flow going forward."

Leslie intends to conduct business as usual during the Chapter 11
process, which could be completed in as little as 120 days. The
filing stays all pending and future asbestos litigation against
Leslie.  As a result, Leslie expects that its cash from operations
will be sufficient to satisfy all of its operating obligations
during this period.  In addition, debtor-in-possession financing
has been arranged for Leslie if needed.

Key terms of the pre-negotiated plan are as follows:

-- Funding for the 524(g) trust will consist of a $75 million
   contribution by Leslie and CIRCOR together with a contribution
   of proceeds from Leslie's remaining asbestos insurance assets;

-- A provision that permanently protects CIRCOR and its affiliates
   from future derivative claims associated with Leslie's asbestos
   liability; and

-- Leslie will remain a subsidiary of CIRCOR during and after
   Chapter 11.

Key outcomes of the plan are as follows:

-- Leslie employees will not be adversely affected;

-- Leslie's suppliers will continue to be paid in full; and

-- Leslie's customer obligations will be honored in the ordinary
   course of business.

Because the plan has been pre-negotiated and is supported by many
key members of the plaintiffs bar, Leslie is confident that the
plan will obtain the required approval of 75 percent of current
asbestos claimants.  Leslie expects the solicitation process for
formal approval of the plan to begin within approximately 30-45
days and to be completed within approximately 60-90 days.  Once
the plan is confirmed and affirmed by the courts and all other
actions necessary to implement the plan are effected, Leslie and
CIRCOR will fund the 524(g) trust and Leslie will emerge from
bankruptcy.

For the year ended December 31, 2009, Leslie recorded
$35.2 million in revenue, which represented approximately 5.5
percent of CIRCOR's consolidated revenue of $642.6 million.  Since
2002, Leslie has been named in an escalating number of asbestos-
related personal injury claims.  These claims relate primarily to
the use of asbestos on U.S. Navy ships from the 1940s to the
1980s.  The vast majority of asbestos on these ships was used as
insulation material around piping, and was not specified, supplied
or utilized by Leslie.  While certain of Leslie's products
included asbestos-containing gaskets or packing supplied by third
parties, any asbestos in these products was encapsulated inside
the products and did not create any ambient exposure to asbestos
particles.  Therefore, Leslie strongly believes that exposure to
its products has not caused asbestos- related illness to any
person.

In connection with Leslie's pre-negotiated Chapter 11 filing,
CIRCOR expects to record an anticipated pretax charge of
$27.2 million in the second quarter of 2010.  In addition, net
cost for asbestos litigation prior to the filing is expected to be
$1.6 million.  As a result, CIRCOR anticipates incurring a total
of $28.8 million in pretax asbestos-related costs, $18.7 million
after tax, during the second quarter of 2010.  This compares with
approximately $4.0 million in pretax asbestos-related costs,
$2.6 million after tax, assumed in the second-quarter 2010
earnings guidance provided by CIRCOR on May 10, 2010.

                  Conference Call Information

CIRCOR International will hold a conference call to discuss this
announcement today, July 12, 2010, at 9:00 a.m., Eastern Time.
Those who wish to listen to the conference call and view the
accompanying presentation slides should visit "Webcasts &
Presentations" in the "Investors" portion of the CIRCOR website.
The live call also can be accessed by dialing (877) 407-5790 or
(201) 689-8328.  For those unable to listen to the live call, the
webcast will be archived on the CIRCOR website.

                        About Leslie Controls

Based in Tampa, Florida, Leslie Controls is a manufacturer of
process control valves, severe service control valves, on-off
valves, regulators, steam water heaters, actuators and controls.

Additional information about Leslie's asbestos litigation can be
found in CIRCOR's Annual Report on Form 10-K filed with the
Securities and Exchange Commission for the year ended December 31,
2009.

                     About CIRCOR International

CIRCOR International, Inc. provides valves and other highly
engineered products and subsystems that control the flow of fluids
safely and efficiently in the aerospace, energy and industrial
markets.  With more than 9,000 customers in over 100 countries,
CIRCOR has a diversified product portfolio with recognized,
market-leading brands.  CIRCOR's strategy includes growing
organically by investing in new, differentiated products; adding
value to component products; and increasing the development of
mission-critical subsystems.  The Company also plans to leverage
its strong balance sheet to acquire complementary businesses.


LINDA DIGIANDOMENICO: Case Summary & 12 Largest Unsec Creditors
---------------------------------------------------------------
Debtor: Linda S. DiGiandomenico
        P.O. Box 2607
        North Conway, NH 03860

Bankruptcy Case No.: 10-12977

Chapter 11 Petition Date: July 8, 2010

Court: United States Bankruptcy Court
       District of New Hampshire Live Database (Manchester)

Judge: J. Michael Deasy

Debtor's Counsel: Joel Jay Rogge, Esq.
                  Law Office of Joel Jay Rogge
                  84 County Road
                  Ipswich, MA 01938-2356
                  Tel: (978) 356-7040
                  Fax: (978) 356-3678
                  E-mail: jjrogge@comcast.net

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

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

A list of the Debtor's 12 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nhb10-12977.pdf

The petition was signed by the Debtor.


LIONS GATE: Reaches Impasse with Icahn to Explore Merger Options
----------------------------------------------------------------
Nat Worden at Dow Jones Newswires reports that people familiar
with the matter said Lions Gate Entertainment Inc., has reached a
temporary agreement with Carl Icahn to explore potential merger
and acquisition opportunities in the film industry.  Merger or
acquisition targets in the film business include Metro-Goldwyn-
Mayer Inc., The Walt Disney Co.'s Miramax studio and Summit
Entertainment LLC, among others.

According to Dow Jones, while the agreement is in place, Mr. Icahn
will be privy to negotiations held by Lions Gate and other inside
information, and Lions Gate will be barred from issuing stock or
taking other measures to thwart Mr. Icahn's efforts to gain
control of the company.

Dow Jones says the agreement was expected to be announced Friday
afternoon, and could mark a shift for Mr. Icahn, who has been
critical of the company's interest in mergers and acquisitions.
Lions Gate has held recent discussions with MGM, which is
struggling to avoid bankruptcy under a heavy debt load.

Representatives for Lions Gate and Mr. Icahn declined to comment.

As reported by the Troubled Company Reporter on July 5, 2010, Mr.
Icahn raised his stake in Lions Gate to almost 34% from 32% in a
two-week period after his official tender offer of $7 a share,
which expired June 16.  Nat Worden at Dow Jones Newswires said
under Canadian regulatory laws, by exceeding the 33% threshold,
Mr. Icahn now has "negative control" over Vancouver-based Lions
Gate, allowing him to block transactions, like a possible merger
with debt-laden film studio Metro-Goldwyn-Mayer Inc.  Mr. Icahn
also has triggered a change-of-control provision, giving Lions
Gate's top executives the option of leaving the company with
multimillion-dollar compensation packages.

According to Dow Jones, Mr. Icahn has said his next step will be
to wage a proxy fight to replace the board, which he accuses of
failing to hold management accountable for its performance on
behalf of shareholders.  Mr. Icahn has held discussions with Lions
Gate's top executives, and some observers expect the parties to
reach an agreement that averts a costly proxy fight.

According to Dow Jones, Lions Gate said in a news release that
owners of 66% of the company's shares have rejected Mr. Icahn's
offer.  Lions Gate has called the tender offer "coercive," and it
has criticized Mr. Icahn's track record as an activist investor.
"Lions Gate's shareholders have repeatedly confirmed their support
for the board and management's strategy to grow shareholder value
by continuously rejecting the Icahn Group's financially inadequate
offer," the company said.

                       About Lions Gate

British Columbia-domiciled and Santa Monica, California-
headquartered Lions Gate is a leading, diversified independent
producer and distributor of motion pictures, home entertainment,
television programming and animation worldwide and holds a
majority interest in the pioneering CinemaNow VOD business.  The
Lions Gate brand name is synonymous with original, cutting edge,
quality entertainment in markets around the world.

As reported by the Troubled Company Reporter on March 10, 2010,
Standard & Poor's Ratings Services revised its rating outlook on
Lions Gate to negative from stable.  At the same time, S&P
affirmed ratings on Lions Gate, including the 'B-' corporate
credit rating.

Lions Gate carries Moody's "B2" corporate family rating and
probability of default rating.


LOREAL PROPERTY: Case Summary & 2 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Loreal Property Management, LLC
        790 Neufield Avenue
        Stamford, CT 06905

Bankruptcy Case No.: 10-51605

Chapter 11 Petition Date: July 7, 2010

Court: U.S. Bankruptcy Court
       District of Connecticut (Bridgeport)

Judge: Alan H.W. Shiff

Debtor's Counsel: Mark M. Kratter, Esq.
                  Kratter & Gustafson, LLC
                  71 East Avenue, Suite O
                  Norwalk, CT 06851
                  Tel: (203) 853-2312
                  E-mail: laws4ct@aol.com

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

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

According to the schedules, the Company says that assets total
$1,168,150 while debts total $623,500.

A copy of the Company's list of 2 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/ctb10-51605.pdf

The petition was signed by Debra A. Saturno-Galang, member.


MARVIN HOLLANDER: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Marvin Larry Hollander
        aka Larry Hollander
        3947 Somerset Drive
        Sarasota, FL 34242

Bankruptcy Case No.: 10-16408

Chapter 11 Petition Date: July 8, 2010

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

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

Scheduled Assets: $532,045

Scheduled Debts: $5,056,410

A list of the Debtor's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/flmb10-16408.pdf

The petition was signed by the Debtor.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Contemporary Cabinets, LLC             10-05290    03/10/10


MEGOLA INC: Incurs $137,150 Net Loss in Q3 Ended April 30
---------------------------------------------------------
Megola, Inc., filed its quarterly report on Form 10-Q, reporting a
net loss $137,149 on $13,929 of revenue for the three months ended
April 30, 2010, compared with a net loss of $139,348 on $10,442 of
revenue for the same period of 2009.

The Company's balance sheet at April 30, 2010, showed
$1,697,591 in assets, $284,872 of liabilities, and $1,412,719 of
stockholders' equity.

Megola's net loss for the nine months ended April 30, 2010, was
$338,796, compared to a net loss of $80,664 for the same period
ended April 30, 2009.  The Company has an accumulated deficit of
$6,212,570 as of April 30, 2010.  "These conditions create an
uncertainty as to Megola'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?664a

Based in Point Edward, Ontario, Canada, Megola, Inc. (OTC BB:
MGON) -- http://www.megola.com/-- provides environmentally
conscious solutions in the areas of physical water treatment, air
purification and fire protection.

The Company was formed to sell physical water treatment devices to
commercial end-users in the United States, Canada and other
international locations under a license granted by the German
manufacturer, Megola GmbH.  Initial operations and sales began in
October 2000.


METRO-GOLDWYN-MAYER: Said to Seek New Debt Waiver Amid Talks
------------------------------------------------------------
Metro-Goldwyn-Mayer Inc. will ask lenders to extend a moratorium
on interest payments, Bloomberg's Ronald Grover reported, citing
two people with knowledge of the situation.  The current
forbearance expires on July 14.

According to the report, MGM will e-mail ballots to more than 100
creditors this week.

A payment waiver would be the sixth since October and give a
committee of MGM's five largest creditors time to negotiate a
restructuring that would include a cash infusion.

MGM is up for sale after falling behind on $3.7 billion in debt.
The lenders, who control more than 50% of the debt, are in talks
with Spyglass Entertainment and "Twilight" producer Summit
Entertainment, to run MGM for them, people said in May.

                    About Metro-Goldwyn-Mayer

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

In May 2010, MGM's lenders agreed to let the studio skip interest
and principal payments until July 14, 2010.  MGM tried to sell
itself in March but received low bids.

MGM has hired investment bank Moelis & Company and the law firm
Skadden, Arps, Slate, Meagher & Flom.  In August 2009, it hired
the restructuring expert Stephen F. Cooper to help lead the
company.


MICHAEL SPILLANE: Case Summary & 11 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Michael K. Spillane
          dba Mike Spillane General Engineering & Plumbing
        549 Easton Avenue
        San Bruno, CA 94066-4310

Bankruptcy Case No.: 10-32556

Chapter 11 Petition Date: July 8, 2010

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

Judge: Dennis Montali

Debtor's Counsel: Dan M. Himmelheber, Esq.
                  Law Offices of Dan M. Himmelheber
                  2000 Alameda De Las Pulgas, #250
                  San Mateo, CA 94403
                  Tel: (650) 345-9822
                  E-mail: danhimmelheber@himmelheberlaw.com

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

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

A copy of the Debtor's list of 11 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/canb10-32556.pdf

The petition was signed by the Debtor.


MOONLIGHT BASIN: Has Until December 1 to Propose Chapter 11 Plan
----------------------------------------------------------------
The Hon. Ralph B. Kirscher of the U.S. Bankruptcy Court for the
District of Montana extended Moonlight Basin Mezz LLC's exclusive
periods to file and solicit acceptances for the proposed Chapter
11 Plan until December 1, 2010, and May 1, respectively.

The Debtor relates that the extension will facilitate a fair and
equitable resolution of various outstanding issues and will aloow
all parties-in-interest to proceed in the plan drafting and
confirmation process with a degree of knowledge of the pertinent
facts.

Headquartered in Ennis, Montana, Moonlight Basin Mezz LLC filed
for Chapter 11 on November 18, 2009 (Bankr. D. Mont. Case No. 09-
62334.)  Craig D. Martinson, Esq., and James A. Patten, Esq.,
assist the Debtor in its restructuring effort.  The Debtor did not
file a list of its 20 largest unsecured creditors when it filed
its petition.  In its petition, the Debtor listed $1,000,001 to
$10,000,000 in assets and $50,000,001 to $100,000,000 in debts.


MOUNT SINAI: Moody's Upgrades Long-Term Ratings to 'Ba1'
--------------------------------------------------------
Moody's Investors Service has upgraded to Ba1 from Ba2 the long-
term ratings assigned to Mount Sinai Medical Center of Florida's
outstanding debt issued through the City of Miami Beach Health
Facilities Authority, removing the rating from WatchList.  The
rating outlook is positive at the higher rating level.  The
upgrade follows strong improvement in MSMC's financial profile in
FY 2009, and the continuation into FY 2010.  The positive rating
outlook reflects Moody's belief that financial performance should
continue on its current trajectory of improvement, beating FY 2010
budget, to support improved debt coverage measures and strengthen
cash balances further.  Approximately $258 million of debt is
affected by this action, as listed at the conclusion of this
report.

Legal Security: All outstanding bonds are secured by: a gross
revenue pledge of the obligated group; a full and irrevocable
guaranty of the Mount Sinai Medical Center Foundation (the
Foundation) for principal and interest payments; a mortgage on
MSMC's south campus; MSMC's right, title and interest in the
ground lease on the land that the north campus is situated on,
and; a negative pledge from the Medical Center and the Foundation.

Interest Rate Derivatives: None

                            Strengths

* Material improvement in financial performance in FY 2009 that
  continues through the first 3 months of FY 2010 reflecting the
  impact of various expense management efforts and revenue
  initiatives which have led to an increase in tertiary volumes
  (Medicare case mix index grew by 5%)

* Cash position has strengthened to $137.8 million at December 31,
  2009, or 103 days, held by MSMC and Foundation (Foundation
  provides irrevocable guaranty to bonds) due to record high cash
  collections, better operating performance and positive equity
  market returns.  MSMC investments are heavily weighted to fixed
  income securities; of the $121 million that represents MSMC cash
  and investments 100% is available monthly

* More recent recruitment of highly productive cardiac surgeons,
  who were established in market, has translated into markedly
  increased cardiac volumes (649 open hearts in 2009 up 51% from
  430 in 2008)

* Clearly articulated operational imperatives to achieve much
  needed top line growth from diversified clinical services

* All fixed rate debt structure with no derivatives; defined
  contribution benefit plan

* Land associated with former campus at the Miami Heart Hospital
  is prime waterfront real estate on Miami Beach that can be
  monetized though timing is very uncertain given Miami's slow
  emergence from the recession

* Sizable operating platform as a standalone facility in a highly
  consolidated provider market ($511 million in total operating
  revenue; 21,682 admission in 2009)

                           Challenges

* Debt levels remain very high relative to size of operations
  (debt to revenues 51% in 2009 as compared the portfolio median
  of 36.6%) and balance sheet liquidity (cash to debt 53% as
  compared the portfolio median of 100%)

* Losses related to physician practices temper operating momentum

* Recessionary pressures have flattened utilization in market

* Mid to long term plans for enterprise growth may prove to be
  dilutive as the use of debt or material cash reserves would be
  required to execute initiatives

                       Recent Developments

FY 2009 and the year to date quarter of FY 2010 signal a reversal
of many downward trends for MSMC.  Last year's recruitment of the
foremost cardiac surgical group appears to have reversed the
marked diminution of cardiac services at MSMC, a service for which
MSMC has historically been known.  Furthermore, management's
efforts to expand a diversified portfolio of services is evident
in satellites in Aventura, Hialeah, and Coral Gables with
increased outpatient presence in those markets.  Though Moody's
retain concerns that fundamental characteristics of the market
suggest pervasive challenges, including: heavy competition from a
consolidated provider market, especially for the more profitable
services, and; shifting demographic trends on Miami Beach toward a
younger population.  To that end, enterprise growth may prove to
be dilutive as the use of debt or material cash reserves would be
required to execute initiatives that could include additional
clinical footprints for access points.

Following softer operating performance in FY 2008, MSMC posted an
improved operating profile (adjusted for investment income and
Foundation transfers ) of $1.4 million (0.3% margin) and operating
cash flow of $41.5 million (8.1% margin) from a loss of over
$19 million (-4.0% margin) and $20.5 million operating cash flow
(4.2% margin) in FY 2008.  Notably, FY 2009 was the first year in
more than a decade that MSMC generated an operating profit from
core clinical operations.  The upturn in performance in FY 2009
can largely be attributed to recruitment of a lead cardiac surgeon
and expense controls.  Key financial ratios have improved notably
with debt to cash flow falling to a more favorable 6.2 times from
a high 13.7 times at FYE 2008 and maximum annual debt service
coverage climbing to a still strained, but improved, 2.6 times
from 1.6 times at FYE 2008.  Management has indicated that a
baseline budget for FY 2010 anticipates a loss of $6.8 million
(excluding a $10 million contribution from the Foundation); though
better than break even performance through first quarter 2010
(March 31) is notably above prior year and the year to date
budget.  Ability to continue to grow top line revenue from the
core clinical enterprise and generate profitable operations
(before accounting for Foundation transfers) remains a crucial
element to further rating improvement.

Absolute unrestricted liquidity improved to $137.8 million at FYE
2009 from $88.7 million at FYE 2008 due to improved operating cash
flow, lower capital spend and better cash collections.  As a
result, unrestricted liquidity measures improved to 103 days cash
on hand and 53% cash-to-debt in FY 2009 from 67 days cash on hand
and 33% cash-to-debt in FY 2008.  Nonetheless, resources remain
modest and leveraged for an organization of this size.  Leverage
is evidenced by debt to revenue of 51%.  Balance sheet resources
are highly liquid while the all fixed rate debt structure without
derivatives and defined contribution pension plan limit unexpected
demands on liquidity.  Finally, strategic capital projects are
being considered for the longer term, however, management reports
that new money borrowings will not be considered until operations
are at least stable.  The MSMC Foundation which provides explicit
and unconditional support to the clinical operations will likely
provide for a portion of MSMC's larger strategic capital needs
through its considerable fundraising strength.

                              Outlook

The positive rating outlook reflects Moody's belief that financial
performance should continue on its current trajectory of
improvement, beating FY 2010 budget, to support improved debt
coverage measures and strengthen cash balances further

                What could change the rating -- UP

Continued improvement in financial performance and liquidity; no
additional debt unless financial growth is commensurate; no
erosion in market share

               What could change the rating -- DOWN

Departure from current operating results; inability to sustain
current liquidity levels; decrease in regional market share
position; excessive capital spending without financial
strengthening

                          Key Indicators

Assumptions & Adjustments:

  -- Based on financial statements for Mount Sinai Medical Center
     of Florida, Inc. & Subsidiaries

  -- First number reflects audit year ended December 31, 2008

  -- Second number reflects audit year ended December 31, 2009

  -- Transfer from Foundation of $10 million reclassified to non-
     operating income from other operating income in FY's 2008 and
     2009, respectively

  -- Investment gains of $4.0 million and $2.4 million
     reclassified to non-operating income from other operating
     income in FY's 2008 and 2009, respectively

  -- Investment returns smoothed at 6% unless otherwise noted

* Inpatient admissions: 22,439; 21,682

* Total operating revenues: $483.1 million; $511.1 million

* Moody's-adjusted net revenue available for debt service: $36.1
  million; $59.5 million

* Total debt outstanding: $267 million; $261 million

* Maximum annual debt service (MADS): $22.8 million; $22.8 million

* MADS Coverage with reported investment income: 1.5 times; 2.4
  times

* Moody's-adjusted MADS Coverage with normalized investment
  income: 1.6 times; 2.6 times

* Debt-to-cash flow: 13.7 times; 6.2 times

* Days cash on hand: 67 days; 103 days

* Cash-to-debt: 33%; 53%

* Operating margin: -4.0%; 0.3%

* Operating cash flow margin: 4.2%; 8.1%

Rated Debt:

* Series 1998, fixed rate
* Series 2001A, fixed rate
* Series 2004, fixed rate

The last rating action with respect to MSMC was on April 28, 2010,
when the municipal finance scale rating of Ba2 rating was placed
on Watchlist for upgrade.  That rating was subsequently
recalibrated to a global scale rating on May 7, 2010.


MOVIE GALLERY: Canada Stores to Close by July 31
------------------------------------------------
Movie Gallery Canada, Inc., has operated 181 stores under the
"Movie Gallery" and "VHQ" banners in all provinces in Canada, with
the exception of Quebec.  The Company announced last June that it
will be liquidating inventory and other assets at all of its Movie
Gallery and VHQ stores over the next six to eight weeks.  All of
its stores are scheduled to close on or before July 31, 2010, with
the exact timing of individual store closures to be determined on
a store-by-store basis.

Due to growing challenges in their markets, and other business
concerns, the Company elected to file a Notice of Intention to
Make a Proposal pursuant to the Bankruptcy and Insolvency Act on
May 7, 2010.  Under the NOI, A. Farber & Partners Inc., a member
of Farber Financial Group, was appointed as Trustee in the
Proposal, and has been assisting the Company in this process.

The Company is not bankrupt and intends to file a proposal to its
creditors, including landlords and employees, in the near future.
The Company's share of the net proceeds of the Sale will be used
to fund this proposal to its creditors.  In the meantime, the
effect of the NOI and the Order of Ontario Superior Court of
Justice dated June 11, 2010, is to provide an overriding stay of
proceedings affecting all creditors until July 21, 2010, or
thereafter if extended by the Court.  The Company continues to
occupy its leased premises, and to employ the majority of its
valued 1,200 employees.

A joint venture group consisting of: Schottenstein Bernstein
Corporation, Tiger Capital Group, and Hudson Capital Partners was
selected by the Company to conduct the liquidation sale of the
Company's assets, comprising inventory and furniture, fixtures
and equipment.  This arrangement was approved by the Superior
Court of Justice by Order of the Honourable Mr. Justice Campbell
on June 11, 2010.  The sale in 131 of the 181 store locations was
commenced by the Agent on June 12, 2010, pursuant to that Order,
affecting inventory valued at approximately $33,000,000.

On June 11th, the Company received offers from parties to acquire
some of its remaining 50 stores, including inventory and assets
therein.  All such offers have been declined, and the Company has
now decided to liquidate all 181 of its Canadian stores through
its agreement with the Agent.  The remaining 50 stores are to be
added to the liquidation this week with an additional $15,000,000
of inventory and other assets for sale at significant discounts,
including DVD and Blu Ray movies, video games and store fixtures.

"Consumer response to the initial liquidation sale has been
excellent," said David Peress, President of Hudson Capital
Partners.  "Customers are taking advantage of tremendous bargains
on a great selection of movies, videos and games available for
purchase at all Movie Gallery and VHQ stores throughout Canada.
New product is arriving daily from Movie Gallery's Canadian
warehouse.  All Company gift cards will continue to be honored
during the Sale."

Management, in concert with its advisors and Farber, intends to
work as expeditiously as possible to maximize the outcome for the
benefit of all stakeholders.

More information about the NOI process can be obtained by visiting
Farber's website at www.farberfinancial.com and clicking on the
Movie Gallery Canada, Inc. link under Current Engagements.

                  About Farber Financial Group

Farber Financial Group -- www.farberfinancial.com -- provides
specialty financial services for rescuing, refinancing and
rebuilding businesses, including: corporate insolvency and
restructuring, forensic accounting, fraud investigations,
distressed financial advisory services, corporate finance,
mergers & acquisitions, business strategy & valuations,
turnarounds, CFO interim management and opportunity assessments.
Farber is based in Toronto, Canada and is internationally a
member of Begbies Global Network.

           About Schottenstein Bernstein Corporation

SB Capital Group, a Schottenstein affiliate, is a leader in the
field of asset recovery, rescue finance, restructurings and store
closing / event sales.  With a portfolio of businesses and
investments across a wide area of sectors including retail,
consumer products, franchising, licensing and real property, SB
Capital Group's specialties include asset disposition services,
acquisitions, financial solutions, as well as appraisal and
valuation services.

                   About Tiger Capital Group

Tiger and affiliated companies provide comprehensive advisory,
valuation, auction, management, and disposition services for a
broad range of retail, wholesale, and industrial companies. Over
the past 30 years, we have managed more store closings than any
other business in the industry and have provided inventory
appraisals on behalf of a wide range of industries and merchants.
Our focus is to help retailers, asset- based lenders and other
financial institutions understand the underlying value of
inventory and to provide key monitoring advice.  To learn more
about Tiger Capital Group, please visit www.tigercapitalgroup.com.

               About Hudson Capital Partners, LLC

Hudson Capital Partners, LLC, offers an extensive array of
professional solutions to the challenges retailers face today,
including management of excess, obsolete and discontinued
inventory, changing geographic and demographic circumstances,
unproductive store sites, and real estate and liquidity issues.
The firm's diversified staff is experienced at performing
strategic store closings and relocations, fixed asset
dispositions, wholesale inventory buyouts and lease mitigations.
Through its advisory arm, HCP Asset Advisors, the firm provides
appraisals and asset advisory services.

                        About Movie Gallery

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

Movie Gallery first filed for Chapter 11 on Oct. 16, 2007 (Bankr.
E.D. Va. Case Nos. 07-33849 to 07-33853).  Kirkland & Ellis LLP
and Kutak Rock LLP represented the Debtors.  The Company emerged
from bankruptcy on May 20, 2008, with private-investment firms
Sopris Capital Advisors LLC and Aspen Advisors LLC as its
principal owners.  William Kaye was appointed plan administrator
and litigation trustee.

Movie Gallery returned to Chapter 11 protection on February 3,
2009 (Bankr. E.D. Va. Case No. 10-30696).  Attorneys at
Sonnenschein Nath & Rosenthal LLP and Kutak Rock LLP represent the
Debtors in their second restructuring effort.  Kurtzman Carson
Consultants serves as claims and notice agent.

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


MOVIE GALLERY: Travelers Wants to Enforce Security Pacts
--------------------------------------------------------
Travelers Casualty and Surety Company asks the Court to lift the
automatic stay to enforce its rights to the cash securities
account that it made to secure its indemnity claims against the
Debtors, to enable it to liquidate the securities account and use
the proceeds to pay claims made under the bonds and to satisfy
its secured indemnity claims against the Debtors.

Kenneth R. Rhoads, Esq., at Gebhardt & Smith, LLP, in McLean,
Virginia -- krhoa@gebsmith.com -- relates that prior to the
Petition Date, Travelers issued various bonds at the request, and
for the benefit, of the Debtors.  The Bonds, which are
voluminous, have a cumulative penal sum in excess of $1,212,475.

In connection with the issuance of the Bonds, Debtors Movie
Gallery, Inc., Hollywood Entertainment Corporation and Movie
Gallery US, LLC, executed a General Contract of Indemnity,
wherein, among other things, they agreed to indemnify Travelers
from any and all loss, costs and expenses incurred or sustained
in connection with the furnishing of the Bonds, Mr. Rhoads avers.

Mr. Rhoads stated that to secure their obligations under the GCI
and to induce Travelers to furnish the Bonds, the Debtors entered
into a Collateralized Bond Surety Program Registered Pledge and
Master Security Agreement and a related Control Agreement with
Travelers.

Pursuant to the Master Agreement, the Debtors pledged a security
interest and all of their right in the funds in a cash securities
account.  As of January 31, 2010, the balance in the Funds
Account was $1,100,651.  Pursuant to the Control Agreement, Smith
Barney, Inc., Travelers and the Debtors agreed that only
Travelers is authorized to give instructions in regard to or in
connection with the Funds Account, except with regard to
investment decisions, until the authority is revoked.

The Debtors have defaulted on various of the obligations owed to
utilities and governmental authorities that are backed by the
Bonds, Mr. Rhoads avers.  The Master Agreement provides that in
an Event of Default, Travelers may apply its collateral against
all or any part of the obligations, he points out.

                        About Movie Gallery

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

Movie Gallery first filed for Chapter 11 on Oct. 16, 2007 (Bankr.
E.D. Va. Case Nos. 07-33849 to 07-33853).  Kirkland & Ellis LLP
and Kutak Rock LLP represented the Debtors.  The Company emerged
from bankruptcy on May 20, 2008, with private-investment firms
Sopris Capital Advisors LLC and Aspen Advisors LLC as its
principal owners.  William Kaye was appointed plan administrator
and litigation trustee.

Movie Gallery returned to Chapter 11 protection on February 3,
2009 (Bankr. E.D. Va. Case No. 10-30696).  Attorneys at
Sonnenschein Nath & Rosenthal LLP and Kutak Rock LLP represent the
Debtors in their second restructuring effort.  Kurtzman Carson
Consultants serves as claims and notice agent.

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


MULTIPLAN INC: BC Partners Deal Won't Affect Moody's 'B2' Rating
----------------------------------------------------------------
Moody's Investors Service said that Multiplan Inc.'s B2 Corporate
Family Rating is currently unchanged after the company entered
into an agreement to be acquired by BC Partners LTD and Silver
Lake Partners LP, private equity firms.  Multiplan is currently
owned by private equity firms The Carlyle Group and Welsh Carson
Anderson & Stowe.

The last rating action on Multiplan was December 15, 2009, when
Moody's affirmed Multiplan's and Viant's B2 Corporate Family
Ratings and rated the financing of the proposed transaction.

Multiplan Inc., based in New York, New York, operates principally
in the health care benefits field as a PPO, providing health care
cost management via contract arrangements between health care
providers and insurance carriers, HMO's, third party
administrators and Taft-Hartley benefit funds throughout the
United States.  Fees are generated from discounts provided for
payers that access the company's network.  Multiplan's network
includes 5,000 acute care hospitals, 625,000 practitioners and
115,000 ancillary facilities nationally.


NEW DAY ATLANTA: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: New Day Atlanta, LLC
        dba NDA Financial
        1835 Savoy Drive, Suite 100
        Atlanta, GA 30338

Bankruptcy Case No.: 10-79971

Chapter 11 Petition Date: July 7, 2010

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

Debtor's Counsel: Scott B. Riddle, Esq.
                  Suite 3250 - One Atlantic Center
                  1201 West Peachtree St., NW
                  Atlanta, GA 30309
                  Tel: (404) 815-0164
                  Fax: (404) 815-0165
                  E-mail: sbriddle@mindspring.com

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

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

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

The petition was signed by Andrew L. Avery, manager.


NEW ORIENTAL ENERGY: Receives Notice From NASDAQ
------------------------------------------------
New Oriental Energy & Chemical Corp. received notification from
the NASDAQ Listings Qualification Department that the Company's
stockholders' equity of $1,225,480, as reported in the Company's
Annual Report on Form 10-K for the fiscal year ended March 31,
2010, that it filed with the Securities and Exchange Commission,
does not comply with the minimum stockholders' equity requirement
of $2,500,000 for continued listing on The NASDAQ Capital Market
pursuant to NASDAQ Listing Rule 5550(b)(1).  As a result, the
Listing Qualifications Staff is reviewing the Company's
eligibility for continued listing on The NASDAQ Capital Market.

The Company has until August 20, 2010, to provide to the Listing
Qualifications Staff a definitive plan to achieve and sustain
compliance with NASDAQ Capital Market listing requirements.  If
the plan is accepted, NASDAQ may grant the Company an extension of
up to 180 calendar days from the date of the notice letter to
regain compliance.  If the Listing Qualifications Staff determines
that the Company has not presented an adequate plan, the Staff
will provide written notice to the Company that its common stock
will be delisted from The NASDAQ Capital Market.  In such event,
the Company may appeal the Staff's decisions to a NASDAQ Listing
Qualifications Panel.

The Company noted that in May of 2010 it completed private
placement transactions with an aggregate value of approximately
$1.8 million through the issuance of units consisting of common
stock and warrants to certain accredited investors.  Since these
transactions were subsequent to its March 31, 2010 year end, the
proceeds of these private placements are not reflected in the
Company's March 31, 2010 balance sheet.  The Company said it will
include information relating to the May 2010 private placements in
the plan it intends to submit to the NASDAQ Listing Qualifications
staff within the required time frame.

                    About New Oriental Energy

New Oriental Energy & Chemical Corp. is an emerging coal-based
alternative fuels and specialty chemical manufacturer based in
Henan Province, in the PRC.  The Company's core products are urea
and other coal-based chemicals primarily utilized as fertilizers.
Future growth is anticipated from its focus on expanding
production of coal-based alternative fuels, in particular,
methanol, as an additive to gasoline and dimethyl ether (DME),
which has been a cheaper, more environmentally friendly
alternative to LPG for home heating and cooking, and diesel fuel
for cars and buses.  All of the Company's sales are made through a
network of distribution partners in the PRC.


NEWPAGE CORP: Board Accepts Resignation of Sr. VP Michael Marziale
------------------------------------------------------------------
The boards of directors of NewPage Holding Corporation and NewPage
Corporation accepted the resignation of Michael L. Marziale as
senior vice president, marketing, strategy and general management,
effective July 2, 2010.

Under the terms of his separation agreement with NewPage
Corporation and NewPage Group Inc. dated July 2, 2010, Mr.
Marziale is entitled to receive a severance payment equal to
$512,248, payment of $645,138 by NewPage Group to purchase his
NewPage Group common stock, payment of $278,466 representing a pro
rata portion of his performance and service awards granted
pursuant to the LTIP, payment for accrued but unused vacation in
2010 equal to $14,769, continued health and welfare benefits
through July 2, 2012, with a total aggregate cost to us of
approximately $18,100 and outplacement services with a cost to us
of approximately $10,500.

Mr. Marziale will also remain eligible for a prorated bonus
payment for performance in 2010. Mr. Marziale remains subject to
certain non-competition and non-solicitation restrictions through
July 2, 2011.

                     About NewPage Corporation

Headquartered in Miamisburg, Ohio, NewPage Corporation --
http://www.NewPageCorp.com/is the largest coated paper
manufacturer in North America, based on production capacity, with
$3.1 billion in net sales for the year ended December 31, 2009.
The company's product portfolio is the broadest in North America
and includes coated freesheet, coated groundwood, supercalendered,
newsprint and specialty papers.  These papers are used for
corporate collateral, commercial printing, magazines, catalogs,
books, coupons, inserts, newspapers, packaging applications and
direct mail advertising.

NewPage owns paper mills in Kentucky, Maine, Maryland, Michigan,
Minnesota, Wisconsin and Nova Scotia, Canada. These mills have a
total annual production capacity of approximately 4.4 million tons
of paper, including approximately 3.2 million tons of coated
paper, approximately 1.0 million tons of uncoated paper and
approximately 200,000 tons of specialty paper.

NewPage Corp. reported $4.0 billion in total assets,
$468.0 million, $3.0 billion in long term debt, and $493.0 in
long-term obligations resulting to a $14.0 million stockholders'
equity as of Dec. 31, 2009.

                           *     *     *

As reported by the Troubled Company Reporter on October 7, 2009,
Standard & Poor's Ratings Services raised its corporate credit
rating on NewPage Corp. to 'CCC+' from 'SD' (selective default).
The outlook is negative.

S&P raised the issue-level rating on the company's second-lien
floating- and fixed-rate notes due 2012 to 'CCC-' (two notches
below the corporate credit rating) from 'D'.  The recovery rating
on these notes remains at '6', indicating S&P's expectation of
negligible (0% to 10%) recovery in the event of a payment default.

S&P also raised the issue-level rating on the company's
subordinated notes to 'CCC-' from 'CC'.   The recovery rating is
unchanged at '6', indicating S&P's expectation of negligible (0%
to 10%) recovery in the event of a payment default.


NEXCEN BRANDS: ISS Recommends Vote "FOR" Proposed Asset Sale
------------------------------------------------------------
NexCen Brands, Inc. disclosed that RiskMetrics Group's ISS Proxy
Advisory Services recommends that NexCen Brands' shareholders vote
"FOR" the sale of its franchise business to an affiliate of Levine
Leichtman Capital Partners, as well as "FOR" the additional
proposals in the Company's June 11, 2010 proxy statement to adopt
the plan of liquidation for NexCen Brands, reduce the number of
shares of the Company's authorized common stock, and permit
adjournment of the Special Meeting (if necessary).  The analyses
and recommendations of ISS are relied upon by hundreds of major
institutional investment firms, mutual funds and fiduciaries
throughout the United States.

David S. Oros, Chairman of Board of Directors of NexCen Brands,
Inc., stated, "ISS' recommendation reaffirms our belief that the
proposed sale of our business to an affiliate of LLCP represents
the most favorable option for all of our stakeholders.  This
transaction provides for the opportunity to achieve value for our
shareholders.  We look forward to closing the transaction and urge
NexCen Brands' shareholders to vote "FOR" all four of the
proposals."

In recommending that NexCen shareholders vote "FOR" the asset sale
and other proposals on the agenda, ISS concluded its analysis by
stating that "non-approval of the liquidation transaction would
likely result in foreclosure of NexCen's assets by its creditors
or bankruptcy, both of which would wipe out shareholder value.
Therefore, the asset sale and liquidation transaction is
preferable."*

As previously announced, under the terms of the sale agreement,
LLCP's affiliate, Global Franchise Group, LLC, will acquire the
subsidiaries of NexCen Brands that own the franchise business
assets, the Company's franchise management operations in Norcross,
Georgia, and its manufacturing facility in Atlanta, Georgia.  As
set forth in the Company's proxy statement, NexCen estimates that,
assuming that the asset sale is completed on its current terms and
the Company is dissolved, the cash proceeds ultimately available
for distribution to the holders of NexCen common stock will be
between $0.12 and $0.16 per share of common stock; however, NexCen
is unable to predict the exact amount, nature and timing of any
distributions to its shareholders. Closing of the sale is subject
to various conditions, including approval of the shareholders of
NexCen Brands.  The transaction is expected to close promptly
following the receipt of shareholder approval.  Shareholders of
record as of the close of business on June 4, 2010, are entitled
to vote at the Company's July 29, 2010 Special Meeting of
Stockholders.

NexCen urges shareholders to follow the ISS recommendation by
voting "FOR" each of the proposals on the Company's proxy card
today.  Shareholders who have questions about the asset sale or
that need assistance voting their shares should contact the
Company's proxy solicitor, Innisfree M&A Incorporated, toll-free
at (877) 456-3488.

                        About NexCen Brands

Based in New York, NexCen Brands, Inc. (PINK SHEETS: NEXC.PK) is a
strategic brand management company with a focus on franchising.
It owns a portfolio of franchise brands that includes two retail
franchise concepts: TAF(TM) and Shoebox New York(R) as well as
five quick service restaurant franchise concepts: Great American
Cookies(R), MaggieMoo's(R), Marble Slab Creamery(R),
Pretzelmaker(R) and Pretzel Time(R).  The brands are managed by
NexCen Franchise Management, Inc., a subsidiary of NexCen Brands.


NOVELIS INC: S&P Hikes Outlook to Positive; 'B+' Rating Affirmed
----------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its outlook on
Atlanta, Ga.-based Novelis Inc. to positive from stable.  At the
same time, Standard & Poor's affirmed its ratings, including its
'B+' long-term corporate credit rating on the company.

"S&P base the outlook revision on its expectations that Novelis
will continue to generate good earnings and cash flows in the next
several months due to the elimination of can-price ceiling
contracts, a modest improvement in shipment volumes, and the
benefits of ongoing cost initiatives, resulting in a financial
risk profile that is consistent with a higher rating," said
Standard & Poor's credit analyst Donald Marleau.  The outlook also
reflects S&P's view of improving credit quality at Novelis'
parent, Hindalco Industries Inc. (not rated).

"The ratings on Novelis reflect S&P's view of the company's
aggressive financial risk profile, which is characterized by
unstable, but improving, operating cash flow and a large debt
load," Mr. Marleau continued.  "Alleviating these weaknesses is
what S&P considers the company's satisfactory business risk
profile, highlighted by its leading position in the global
aluminum rolled products market, and extensive geographic and
product diversity," Mr. Marleau added.

The ratings on Novelis also reflect the link to parent Hindalco,
for which S&P views Novelis as a long-term, strategically
significant investment.  Standard & Poor's believes that this
importance provides good incentive for Hindalco to support its
US$3.5 billion investment, as demonstrated by the US$100 million
loan Novelis received from and subsequently repaid to a related
affiliate of the India-based Aditya Birla Group (not rated) in
February 2009.  S&P believes that Hindalco's credit quality is
improving due to significant debt reduction and stronger operating
earnings.  Hindalco's credit quality is characterized by unstable
operating earnings and cash flow stemming from volatile primary
aluminum prices, significant capital expenditure plans, and a
large debt load, partially offset by its attractive cost profile
in primary aluminum production.

Novelis uses primary and recycled aluminum to produce can sheet
for sale to beverage producers and can fabricators; various rolled
products for construction, industrial, and transportation uses;
and foil for packaging.  The company benefits from a scale and
scope of operations that lead the market, which is typified by the
capital intensity, associated economies of scale of production
facilities, and relatively tight supply capacity in its key
markets, as well as its long-standing customer relationships.
Novelis has either a No. 1 or No. 2 position in each of the
world's major aluminum consuming regions and product segments, and
S&P believes the elimination of the can-price ceiling contracts
could allow the company to increase its pricing power.

The positive outlook reflects S&P's opinion that the company's
financial risk profile is strengthening following the elimination
of the can-price ceilings, as well as S&P's view of Hindalco's
improving credit quality and continued expectations of parental
support.  S&P believes that Novelis' cash flow will continue to
improve in the next 12 months, as cost reductions and a modest
increase in volumes translate into a steadier stream of operating
cash flow.  S&P could raise the ratings if Novelis began reducing
debt from a more stable stream of free cash flow, thus improving
funds from operations to debt to more than 20% on a sustained
basis.  On the other hand, S&P could lower the ratings if weaker
profitability contributed to negative free cash flow (excluding
seasonal and price-related working-capital swings), thereby
increasing Novelis' debt burden and weakening liquidity.


ORIENTAL TRADING: Explores Restructuring Options
------------------------------------------------
Daily Bankruptcy Review reports that Oriental Trading Co., said
Friday it is exploring "all restructuring alternatives" in
negotiations with its lenders.

Oriental Trading -- http://www.orientaltrading.com/-- is a
wholesaler of novelties and party items that is controlled by
Carlyle Group.


ORIENTAL TRADING: Moody's Downgrades Default Rating to 'Ca/LD'
--------------------------------------------------------------
Moody's Investors Service lowered Oriental Trading Company Inc.'s
Probability of Default Rating to Ca/LD from Caa3 and Corporate
Family Rating to Ca from Caa3.  Moody's also lowered OTC's first
and second lien term loan ratings to Caa2 and C, respectively.
The outlook is stable.

The downgrade of OTC's Probability of Default Rating to Ca/LD
reflects the company's failure to pay its May 31, 2010 scheduled
interest payment on its second lien term loan within the allowable
grace period.  The limited default designation acknowledges that
OTC remains current with respect to debt service payments on its
first lien and mezzanine debt.  As a payment default is currently
limited on one class of OTC's debt, Moody's considers this a
limited default.

The downgrade also considers Moody's opinion that while OTC is
current with respect to debt service payments on its first lien
and mezzanine debt, the company's capital structure is
unsustainable in its current form.  Debt/EBITDA is significant at
over 12 times.  As a result, Moody's believes that any refinancing
of its debt will likely result in some impairment to lenders..

Ratings lowered and LGD assessments amended:

* Corporate Family Rating to Ca from Caa3

* Probability of Default Rating to Ca/LD from Caa3

* 1st lien credit facilities to Caa2 (LGD 2, 26%) from Caa1 (LGD
  2, 28%)

* 2nd lien term loan to C (LGD 5, 74%) from Ca (LGD 5, 75%)

The last rating action on Oriental Trading was on May 12, 2009
when the Corporate Family Rating was confirmed and outlook was
revised to negative.

OTC is a direct marketer of novelties, toys, party supplies, and
home decor products.  The company generates annual revenue of
about $485 million.


ORLEANS HOMEBUILDERS: Sued by Landscaping Firm for Unpaid Fees
--------------------------------------------------------------
Carla Main at Bloomberg News reports that Orleans Homebuilders
Inc. was sued by Eric's Nursery Inc. in bankruptcy court in
Wilmington, Delaware.  Eric's Nursery, based in Mount Laurel, New
Jersey, seeks $45,000 in unpaid fees for landscaping services,
court records show.  The vendor wants the court to find that the
debt is nondischargeable, and seeks turnover of the money plus
$13,000 in interest, according to the complaint.

According to the report, Eric's Nursery claims that Orleans asked
it to perform landscaping services while insolvent, "unbeknownst
to" Eric's Nursery.  Section 523 of the U.S. Bankruptcy Code lists
exceptions to the general rule of discharge in bankruptcy cases,
which include debts for services given "under false pretenses."

                     About Orleans Homebuilders

Orleans Homebuilders, Inc. -- aka FPA Corporation, OHB, Parker &
Lancaster, Masterpiece Homes, Realen Homes and Orleans --
develops, builds and markets high-quality single-family homes,
townhouses and condominiums.  From its headquarters in suburban
Philadelphia, the Company serves a broad customer base including
first-time, move-up, luxury, empty-nester and active adult
homebuyers.  The Company currently operates in these 11 distinct
markets: Southeastern Pennsylvania; Central and Southern New
Jersey; Orange County, New York; Charlotte, Raleigh and
Greensboro, North Carolina; Richmond and Tidewater, Virginia;
Chicago, Illinois; and Orlando, Florida.  The Company's Charlotte,
North Carolina operations also include adjacent counties in South
Carolina.  Orleans Homebuilders employs approximately 300 people.

The Company filed for Chapter 11 bankruptcy protection on March 1,
2010 (Bankr. D. Del. Case No. 10-10684).  Cahill Gordon & Reindell
LLP is the Debtor's bankruptcy and restructuring counsel.  Curtis
S. Miller, Esq., and Robert J. Dehney, Esq., at Morris, Nichols,
Arsht & Tunnell, are the Debtor's Delaware and restructuring
counsel.  Blank Rome LLP is the Debtor's special corporate
counsel.  Garden City Group Inc. is the Debtor's claims and notice
agent.  The Company estimated assets and debts at $100,000,001 to
$500,000,000.


PACIFIC LIFESTYLE: Unsecured Creditors to Recover 40% of Claims
---------------------------------------------------------------
Pacific Lifestyle Homes, Inc., filed with the U.S. Bankruptcy
Court for the Western District of Washington a Plan of
Reorganization, as amended, and an explanatory Disclosure
Statement.

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

According to the Disclosure Statement, the Plan will be funded by
a combination of the Debtor's cash on hand as of the effective
date, including all remaining amounts in the segregated DIP
accounts, the equity contribution, the settlement payment and cash
that is collected or generated by the Reorganized Debtor after the
effective date.

Under the Plan, the Debtor will treat claims as:

Class 2. BofA Secured Claim -- the Reorganized Debtor will execute
         and deliver to BofA the BofA Note and the other Amended
         BofA Loan Documents.  The BofA Note will be in a
         principal amount of equal to the difference between
         (1) $3,438,000, and (2) all payments made by the Debtor
         to BofA from April 5, 2010, through the effective date.
         Interest will accrue on the principal balance of the BofA
         Note at the BofA Interest Rate from the effective date
         until the principal balance is paid in full.

Class 3. KeyBank Secured Claim -- KeyBank will receive the
         treatment agreed to by the parties and approved in the
         settlement agreement.  KeyBank will have a secured claim
         that is secured by a first priority trust deed lien on
         the KeyBank WIP, and a first priority security interest
         in the holder's interest in the segregated DIP cash.

Class 4. West Coast Bank Secured Claim -- the Debtor will among
         other things: turn over all segregated DIP cash except
         for amounts necessary to (1) complete all existing WCB
         WIP (including Community Costs), and (2) cover warranty
         reserve expenses in the amount of $1,500 per house
         remaining under the one-year warranty, including all
         homes sold in the year prior to the effective date.

Class 5. Oregon Lien Claims -- the Reorganized Debtor will pay to
         each holder of an Allowed Class 5 Claim, in cash from the
         proceeds of the collateral securing the Claim, the
         allowed amount thereof pursuant to the terms of the
         Oregon Lien Order.

Class 6. Property Tax Lien Claims -- the Reorganized Debtor will
         pay to each holder of an allowed Class 6 Claim, in cash
         on the effective date from the appropriate segregated DIP
         account.  Real property tax claims on real property to be
         transferred by the Debtor to one or more of its lenders
         will attach to the property to be transferred and be paid
         on the ultimate disposition of that property.

Class 7. Surety Bond Claims --the rights of the creditors holding
         Class 7 Claims will remain unaltered.  Class 7 only
         includes the claims of those surety bonds that have been
         assumed and excludes those surety bonds that have been
         terminated or rejected pursuant to the Plan.

Class 8. Small Unsecured Claims -- the Reorganized Debtor will pay
         to each holder of a small unsecured claim, in cash, an
         amount equal to 40% of the allowed amount thereof paid
         (i) 50% on the effective date and (ii) 50% on the 6 month
         anniversary of the effective date, or (iii) soon
         thereafter as the allowed amount is determined.

Class 9. Other Unsecured Claims -- each holder of an unsecured
         claim will receive a distribution of 10% of its allowed
         unsecured claim, which distribution will be paid
         annually, on the anniversary of the effective date for
         the next five years.  The distributions will be made as:
         (i) 10% on the first anniversary of the effective date;
         (ii) 15% on the second anniversary of the effective date,
         (iii) 20% on the third anniversary of the effective date;
         (iv) 25% on the fourth anniversary of the effective date;
         and (v) 30% on the fifth anniversary of the effective
         date.

Class 10. Existing Interests - the Wann Trust, as the current
         holder of the interests, will be entitled to retain the
         interests in exchange for the equity contribution.

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

                     About Pacific Lifestyles

Based in Vancouver, Washington, Pacific Lifestyle Homes, Inc. is a
homebuilder throughout Southwest Washington and Northern Oregon.
The company filed for Chapter 11 relief on Oct. 16, 2008 (Bankr.
W.D. Wash. 08-45328).  Brian A. Jennings, Esq., at Perkins Coie
LLP, in Seattle; Jeanette L. Thomas, Esq., and Steven M. Hedberg,
Esq., at Perkins Coie LLP, in Portland, Oregon, represent the
Debtor in the Chapter 11 case.  John R. Knapp, Jr., Esq., at
Cairnross & Hempelmann PS, represent the official committee of
unsecured creditors.  When the Debtor filed for protection from
its creditors, it listed between $50 million and $100 million each
in assets and debts.


PASADENA PLAYHOUSE: Has Emerged From Chapter 11, Says LA Times
--------------------------------------------------------------
Mike Boehm at The Los Angeles Times reports that Pasadena
Playhouse has emerged from Chapter 11 bankruptcy, shedding more
than $1 million in debt.

The report relates that the Company's plan of reorganization was
approved by a federal court judge, which plan eliminates all the
Company's debts except the obligation eventually to provide its
2010 subscribers with seats for the number of shows they had
bought.  Among the canceled debts are about $600,000 in loans from
Community Bank, about $60,000 in reimbursements and other expenses
owed to the City of Pasadena and more than $400,000 to companies
and individuals for goods and services.

Two donors pledged to provide $1 million to the Company allow the
company to comeback production by October, according to the
report.

                     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.


PATRICIA DAMION: Case Summary & 4 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Patricia R. Damion
        515 Acacia Avenue
        Corona Del Mar, CA 92625

Bankruptcy Case No.: 10-19399

Chapter 11 Petition Date: July 8, 2010

Court: U.S. Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Erithe A. Smith

Debtor's Counsel: Donald Segretti, Esq.
                  19800 MacArthur Boulevard, Suite 1000
                  Irvine, CA 92612
                  Tel: (949) 553-8088
                  Fax: (949) 553-8188
                  E-mail: dsegretti@aol.com

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

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

According to the schedules, the Debtor says that assets total
$4,224,195 while debts total $2,638,422.

A copy of the Debtor's list of 4 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-19399.pdf

The petition was signed by the Debtor.


PAVEL PALY: Case Summary & 18 Largest Unsecured Creditors
---------------------------------------------------------
Joint Debtors: Pavel Ivanovich Paly
               Zoya Pavlovna Paly
               621 West Surf Spray Lane
               Ponte Vedra Beach, FL 32082

Bankruptcy Case No.: 10-05864

Chapter 11 Petition Date: July 7, 2010

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

Judge: Jerry A. Funk

Debtor's Counsel: Brett A Mearkle, Esq.
                  Parker & Dufresne, P.A.
                  8777 San Jose Blvd Suite 301
                  Jacksonville, FL 32217
                  Tel: (904) 733-7766
                  Fax: (904) 733-2919
                  E-mail: bmearkle@jaxlawcenter.com

Estimated Assets: $0 to $50,000

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

A list of the Joint Debtors' 18 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flmb10-05864.pdf

The petition was signed by the Joint Debtors.


PHEASANT RUN: Plan Confirmation Hearing Set for July 26
-------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Indiana
will consider the confirmation of Pheasant Run Apartments, L.P.'s
Reorganization Plan on July 26, 2010, at 3:30 p.m. (EDT).  The
hearing will held at Room 311 U.S. Courthouse, 46 E. Ohio St.,
Indianapolis, Indiana.  Objections, if any, are due on July 21.

Any ballots accepting or rejecting the plan must be delivered to
the Plan proponent by July 21.

As reported in the Troubled Company Reporter on May 26, the Plan
provides for the Reorganized Debtor to use the cash and liquidated
assets to fund the payments due.  The remaining funds will be
retained by the Reorganized Debtor to be used in the ordinary
course of business to maintain the operation of the rental
property and to fund the installment payments due after the
effective date of the Plan.

Under the Plan, the secured claim of Republic Bank to be paid in
accordance with the modification agreement between the bank and
the Debtor.

Convenience class of general unsecured claims will receive a
distribution of 100% of the allowed amount of their claims, up to
$15,0000, of which 50% will be paid on or before 45 days after the
effective date.

General unsecured claims which are more than $15,000 will receive
a distribution of 100% of the allowed amount of their claims in
biannual installments of 12.5% each made by the Reorganized Debtor
over the course of 4.5 years.

Equity holders are not entitled to any distribution until all of
the classes are paid in full.

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

                About Pheasant Run Apartments, L.P.

Indianapolis, Indiana-based Pheasant Run Apartments, L.P.,
operates a 20-acre, 184-unit apartment complex.  The Company filed
for Chapter 11 bankruptcy protection on March 11, 2010 (Bankr.
S.D. Ind. Case No. 10-03060).  Stahl Cowen Crowley Addis, LLC,
assist the Debtor in its restructuring effort.  According to the
schedules, the Company has assets of $10,711,300, and total debts
of $10,463,300.


PNCH ASSOCIATES: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: PNCH Associates, LLC
        227 Aqua Drive
        Riverside, NJ 08075

Bankruptcy Case No.: 10-30923

Chapter 11 Petition Date: July 7, 2010

Court: United States Bankruptcy Court
       District of New Jersey (Camden)

Judge: Judith H. Wizmur

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

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

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

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

The petition was signed by Robert Rosin, member.


POINT BLANK: Explores Sale, Other Alternatives
----------------------------------------------
Point Blank Solutions, Inc., announced plans to explore strategic
alternatives, which includes a sale process, pursuant to Section
363 of Chapter 11 of the United States Bankruptcy Code.  The
Company, with the support of its financial advisor CRG Partners
Group LLC, will be exploring various strategic options in an
effort to enhance the Company's financial position and generate
the highest value for all constituents.

On April 14, 2010, the Company and its subsidiaries filed
voluntary petitions for Chapter 11 reorganization in the U.S.
Bankruptcy Court in Delaware.  Concurrent with that filing, the
Company announced that it had reached an agreement for up to
$20.0 million of Debtor-in-Possession financing, which was
approved by the Court and provides the Company with sufficient
working capital to continue to meet its current contractual
obligations.  As previously disclosed, the decision to file for
Chapter 11 protection was driven primarily by continued expenses
associated with legacy issues from former management and the lack
of financing available to the Company at that time, after
extensive efforts to find additional sources of financing.

James R. Henderson, the Company's CEO stated, "We have begun a
process to explore any and all strategic alternatives that will
generate the highest value for all our stakeholders while at the
same time, positively position our Company for the future.  Since
we began our restructuring, we have stayed true to our word that
it is business as usual at Point Blank.  We continue to receive
orders across our customer base, are delivering high quality
products on time and are realizing the benefit of supply chain and
manufacturing improvements.  I am proud of our employees and their
ongoing commitment to the Company, and our customers and
partners."

                         About Point Blank

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).

The Company's bankruptcy counsel is Pachulski Stang Ziehl & Jones
LLP.


RCLC INC: CRO Joel Getzler to Provide Restructuring Services
------------------------------------------------------------
On July 1, 2010, an amendment of the engagement agreement between
the RCLC Inc. and Getzler Henrich & Associates LLC, a corporate
turnaround and restructuring firm, pursuant to which Joel Getzler
is retained a Chief Restructuring Officer of the Company and
Getzler Henrich is providing operational restructuring services to
the Company was fully executed.  The amendment extends the term of
Getzler Henrich's engagement, which was set to expire on June 30,
2010, until July 31, 2010.

                          About RCLC Inc.

RCLC, Inc., formerly known as Ronson Corporation, in Woodbridge,
New Jersey, historically, has been engaged principally in these
businesses -- Consumer Products; and Aviation-Fixed Wing and
Helicopter Services.

                           *     *     *

According to the Troubled Company Reporter on June 18, 2010,
RCLC Inc. and its wholly-owned subsidiaries, RCPC Liquidating
Corp. Ronson Aviation, Inc., and RCC Inc., further extended the
forbearance agreement with their principal lender, Wells Fargo
Bank, National Association, under which Wells Fargo agreed not to
assert existing events of default under the Borrowers' credit
facilities with Wells Fargo through July 16, 2010, or such earlier
date determined under the Forbearance Agreement, to provide the
Borrowers with additional time to consummate the sale of RAI's
assets to Hawthorne TTN Holdings, LLC pursuant to the previously
disclosed Asset Purchase Agreement dated as of May 15, 2009, as
amended, among the Company, RAI and Hawthorne, or, alternatively,
enter into an asset purchase agreement with another qualified
purchaser.


RESCOM PROPERTIES: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: ResCom Properties, Inc.
        289 Commerce Park Drive
        Ridgeland, MS 39157

Bankruptcy Case No.: 10-02390

Chapter 11 Petition Date: July 8, 2010

Court: United States Bankruptcy Court
       Southern District of Mississippi
      (Jackson Divisional Office)

Judge: Neil P. Olack

Debtor's Counsel: Craig M. Geno, Esq.
                  Harris Jernigan & Geno, PLLC
                  587 Highland Colony Pkwy.
                  P.O. Box 3380
                  Ridgeland, MS 39157
                  Tel: (601) 427-0048
                  Fax: (601) 427-0050
                  E-mail: cmgeno@harrisgeno.com

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

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

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

The petition was signed by Chad D. Clark, vice president.


RICHARD MILLER, JR: Case Summary & 15 Largest Unsecured Creditors
-----------------------------------------------------------------
Joint Debtors: Richard G. Miller, Jr.
               Shannon Miller
               40674 Calle Cancion
               Temecula, CA 92592

Bankruptcy Case No.: 10-31105

Chapter 11 Petition Date: July 7, 2010

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

Judge: Meredith A. Jury

Debtor's Counsel: Michael Jay Berger, Esq.
                  9454 Wilshire Boulevard, 6th Floor
                  Beverly Hills, CA 90212-2929
                  Tel: (310) 271-6223
                  Fax: (310) 271-9805
                  E-mail: michael.berger@bankruptcypower.com

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

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

According to the schedules, the Debtors say that assets total
$715,837 while debts total $1,474,804.

A copy of the Joint Debtors' list of 15 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/cacb10-38053.pdf

The petition was signed by the Joint Debtors.


RICHARD STELT: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Joint Debtors: Richard Dean Vander Stelt
               dba Heritage Farms
               Carri Lynn Vander Stelt
               P.O. Box 709
               Buhl, ID 83316

Bankruptcy Case No.: 10-41205

Chapter 11 Petition Date: July 8, 2010

Court: United States Bankruptcy Court
       District of Idaho (Twin Falls)

Judge: Jim D. Pappas

Debtor's Counsel: Brent T. Robinson, Esq.
                  P.O. Box 396
                  Rupert, ID 83350
                  Tel: (208) 436-4717
                  E-mail: btr@idlawfirm.com

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

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

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/idb10-41205.pdf

The petition was signed by the Joint Debtors.


RIGGING & WELDING: Can Access Secured Lenders' Cash Collateral
--------------------------------------------------------------
The Hon. Marvin Isgur of the U.S. Bankruptcy Court for the
Southern District of Texas authorized Rigging & Welding
Specialists, Inc., to access the cash collateral.

Financial Federal Credit, Inc., a first lien holder, and Wells
Fargo Bank, N.A., a first lien holder, have agreed to the use of
cash collateral.  The Debtor, Federal and Wells Fargo have reached
a formal agreement for the Debtor's use of cash collateral.

As reported in the Troubled Company Reporter on June 10, the cash
collateral, consists of accounts receivable, in the ordinary
course of business.

The Court also ruled that the Debtor:

   -- will not pay any payroll or salary out of the ordinary
      course of business;

   -- will maintain current insurance in the amount maintained on
      a prepetition basis; and

   -- will pay only fair market rent on its Baytown facilities,
      which the Court recognizes that the payments are to an
      insider.

Each holder of a valid and unavoidable lien on the Debtor's
account receivables is granted a replacement lien on postpetition
accounts receivable in the same priority and to the same extent as
existed on the petition date.

                      About Rigging & Welding

Baytown, Texas-based Rigging & Welding Specialists, Inc., has two
primary sources of revenue: (1) by the rental of cranes with
operator or without; and (2) providing services for inspection,
testing and certification of slings and rigging equipment by the
testing and sales of crane rigging equipment.  The Company's
special "niche" is 24-hour/7-day-a-week service.

Rigging & Welding Specialists filed for Chapter 11 bankruptcy
protection on May 12, 2010 (Bankr. S.D. Tex. Case No. 10-34012).
The Company listed $15,853,284 in assets and $17,547,127 in debts.


RIVIERA HOLDINGS: Files for Chapter 11 Bankruptcy Reorganization
----------------------------------------------------------------
Riviera Holdings Corporation, along with certain of its
subsidiaries has filed for protection under Chapter 11 of the
Bankruptcy Code in the United States Bankruptcy Court for the
District of Nevada in Las Vegas.  The Company has filed its
bankruptcy cases in conjunction with a restructuring and lock-up
letter agreement entered into with certain senior secured lenders
holding over a majority in amount of secured creditor claims under
the Company's $228,000,000 Credit Agreement dated as of June 8,
2007, and corresponding secured hedging agreement.  Through
bankruptcy, the Company anticipates that it will be able to
restructure its indebtedness, provide for investment of new
capital into the Company, and emerge in an improved financial and
operational position.

The Company has filed various first day motions with the
Bankruptcy Court that, with the Bankruptcy Court's approval, will
allow the Company and its subsidiaries to continue to conduct
business as usual without interruption.  During the Chapter 11
process, the Company expects to continue normal operations under
the direction of its existing management team.  The Company
anticipates that it will continue to pay employees and vendors,
and honor customer deposits and commitments without interruption
or delay.  However, the Company's management strongly believes
that any recovery for equity holders in the Chapter 11 process is
highly unlikely, and under the terms of the restructuring and
lock-up letter agreement, the equity holders' interests in the
Company will be cancelled and will receive no distributions.

In a statement, Tullio Marchionne, Secretary and General Counsel
of the Company, noted, "After extensively considering various
alternatives and consulting with our advisors, we have concluded
that the Company and its customers, employees and creditors are
best suited at this time by proceeding with these Chapter 11
filings.  By agreeing with our secured lenders in advance, we will
be able to proceed with an expeditious restructuring through
bankruptcy which will provide us with a viable capital structure,
as well as additional financing.

"We, like many others in the gaming industry, have been affected
by the current economy.  However, both our Las Vegas and Black
Hawk properties are generating positive free cash flow and this,
combined with our cash balances, will help insure that we continue
to pay all our operating costs on a timely basis and fund
maintenance capital expenditures.  There will be no effect on our
employees, vendors, and most importantly, our customers.

"Furthermore, our ability to reach a mutual agreement with our
lenders as to the restructuring provides us with a great advantage
that most debtors in bankruptcy are not so fortunate to have.  It
is our expectation that the Chapter 11 cases will proceed before
the Bankruptcy Court in a prompt manner.  We believe that by
restructuring our debt in coordination with our lenders we will
emerge with a capital structure which will enable the Company not
only to survive, but to grow as the economy recovers.

"We appreciate all of the hard work that our management and
employees have provided and will continue to provide in helping us
move forward towards this bright future.  We are grateful that our
working relationships with our suppliers, vendors, and other
parties remain resolute.  Finally, we thank all of our customers
who have supported us; providing an outstanding service experience
to them remains our highest priority."

                       About Riviera Holdings

The Company, through its wholly-owned subsidiary, Riviera
Operating Corporation, owns and operates the Riviera Hotel &
Casino located in Las Vegas, Nevada, which consists of a hotel
comprised of five towers with 2,075 guest rooms, including 177
suites, and which has traditional Las Vegas-style gaming,
entertainment and other amenities.

The Company, through its wholly-owned subsidiary, Riviera Black
Hawk, Inc., owns and operates the Riviera Black Hawk Casino, a
casino in Black Hawk, Colorado and has various non-gaming
amenities, including parking, buffet-styled restaurant,
delicatessen, a casino bar and a ballroom.


RUTH DELGADO: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: Ruth Delgado
                 aka Ruth Colmenar Delgado
                     Maple Residential Care, Inc.
               Wally Delgado
               24347 Sunnycrest Court
               Diamond Bar, CA 91765

Bankruptcy Case No.: 10-37910

Chapter 11 Petition Date: July 7, 2010

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

Judge: Sheri Bluebond

Debtor's Counsel: Steven P. Chang, Esq.
                  801 S Garfield Avenue, Suite 338
                  Alhambra, CA 91801
                  Tel: (626) 281-1232
                  E-mail: attorney@spclawoffice.com

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

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

According to the schedules, the Debtors say that assets total
$1,712,759 while debts total $2,718,825.

A copy of the Joint Debtors' list of 20 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/cacb10-37910.pdf

The petition was signed by the Joint Debtors.


SAINT VINCENTS: Metropolitan Jewish Offers $17-Mil. for Unit
------------------------------------------------------------
Dow Jones Daily Bankruptcy Review reports that New York health
system Metropolitan Jewish Homecare Inc. is offering $17.1 million
for St. Vincent's Hospital's long-term home health-care program,
as the shuttered Greenwich Village medical center continues to
sell its remaining assets.

St. Vincents Catholic Medical Centers returned to bankruptcy court
by filing another Chapter 11 petition April 14, 2010, in New York
(Bankr. S.D.N.Y. Case No. 10-11963).  The new petition listed
assets of $348 million against debt totaling $1.09 billion.

Adam C. Rogoff, Esq., and Kenneth H. Eckstein, Esq., at Kramer
Levin Naftalis & Frankel LLP, represent the Debtor in its Chapter
11 effort.

Although the hospitals emerged from the prior reorganization in
July 2007 with a Chapter 11 plan said to have a "a realistic
chance" of paying all creditors in full, the bankruptcy left the
medical center with more than $1 billion in debt.  The new filing
occurred after a $64 million operating loss in 2009 and the last
potential buyer terminated discussions for taking over the
flagship hospital.

Saint Vincents Catholic Medical Centers -- http://www.svcmc.org/
-- is anchored by St. Vincent's Hospital Manhattan, an academic
medical center located in Greenwich Village and the only emergency
room on the Westside of Manhattan from Midtown to Tribeca, St.
Vincent's Westchester, a behavioral health hospital in Westchester
County, and continuing care services that include two skilled
nursing facilities in Brooklyn, another on Staten Island, a
hospice, and a home health agency serving the Metropolitan New
York area.

Saint Vincent Catholic Medical Centers of New York and six of its
affiliates first filed for Chapter 11 protection on July 5, 2005
(Bankr. S.D.N.Y. Case No. 05-14945 through 05-14951).


SANTA CLARA: Plan Outline Hearing Continued Until July 27
---------------------------------------------------------
The Hon. Arthur S. Weissbrodt of the U.S. Bankruptcy Court for the
Northern District of California has continued until July 27, 2010,
at 10:00 a.m., the approval of the amended Disclosure Statement
for Santa Clara Square, LLC's proposed Plan of Reorganization.
The hearing will be held at 280 South First Street, San Jose,
California.

As reported in the Troubled Company Reporter on June 3, according
to the Disclosure Statement, the Plan provides that all allowed
arrearages owing to East West Bank will be paid in full on the
effective date, in cash from the Essex Loan or shareholder fund.

In addition, the Plan provides for the payment of monthly interest
payments to East West Bank for the duration of the term of the
Plan.  These payments will be made from net profits, the interest
reserve account, the shareholder funds, the Essex Loan, or funds
provided by members of Debtor.

As reported in the Troubled Company Reporter on April 27, 2010,
the Plan provides for a five year Plan term.

Under the Plan, the Debtor will develop the property during the
Term of the Plan.  The development will be a mixed used
residential and commercial project conducted in coordination with
Essex.

The Plan also provides that the claim of East West Bank may be
satisfied from the sale of the property at any time, subject to
any rights of Essex under the Loan Agreement.

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

The Debtor is represented by:

     Lawrence A. Jacobson, Esq.
     Sean M. Jacobson, Esq.
     Cohen and Jacobson, LLP
     900 Veterans Boulevard, Suite 600
     Redwood City, California 94063
     Tel: (650) 261-6280
     Fax: (650) 368-6221

                     About Santa Clara Square

Los Altos, California-based Santa Clara Square, LLC, filed for
Chapter 11 bankruptcy protection on December 21, 2009 (Bankr. N.D.
Calif. Case No. 09-61196).  The Company listed $10,000,001 to
$50,000,000 in assets and $10,000,001 to $50,000,000 in
liabilities.


SELVAGGIO ENTERPRISES: Voluntary Chapter 11 Case Summary
--------------------------------------------------------
Debtor: Selvaggio Enterprises
        623 Selvaggio Drive, Suite 200
        Nazareth, PA 18064
        Tel: (610) 759-4511

Bankruptcy Case No.: 10-22014

Chapter 11 Petition Date: July 8, 2010

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

Judge: Richard E. Fehling

Debtor's Counsel: Erv D. Mclain, Esq.
                  McLain & Associates
                  561 Main Street, Suite 275
                  Bethlehem, PA 18018
                  Tel: (610) 866-9700
                  E-mail: erv_mclain@mclainlawpc.com

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

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

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

The petition was signed by Stephen F. Selvaggio, president.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
MNMS, LP                              --                        --


SG RESOURCES: Moody's Affirms 'B1' Corporate Family Rating
----------------------------------------------------------
Moody's Investors Service affirmed SG Resources Mississippi,
L.L.C.'s B1 Corporate Family Rating and assigned a B1 rating to
its $101.5 million senior secured revolving credit facility
(Revolver A), $100 million senior secured revolving credit
facility (Revolver B) and up to $163.5 million Term Loan B.  The
rating outlook is stable.

"The B1 rating reflects management's successful execution thus far
on the first three phases of the project and in maintaining a
supportive contract profile, tempered by high leverage as the
project continues to undertake primarily debt-financed
expansions," commented Gretchen French, Moody's Assistant Vice
President.

SGRM is amending its existing credit facilities in order to fund
the Phase IV expansion of the Southern Pines Energy Center natural
gas storage development in Greene County, Mississippi.  SGRM is
increasing the term loan by up to $31.2 million and terming out
existing Revolver B drawings of $83.1 million with an $80 million
Gulf Opportunity Zone bond issuance, which will be backed by a
letter of credit under the Revolver B.  The maturity of the credit
facilities is also being extended to 2015 and the cash flow sweep
will be increased to 100% for the life of the credit facility.

The Phase IV expansion, which is expected to be completed in
the third quarter of 2012, entails the development of a fourth
10 billion cubic feet high deliverability, salt dome natural
gas storage cavern.  The budgeted cost of the expansion is
$49.6 million, which includes a 10% contingency.  The Phase IV
expansion will be funded with the proceeds from the increased term
loan and approximately $18 million of projected cash flow.  Phase
IV will be undertaken as SGRM continues to complete Phase III of
the project: the expansion of Caverns 1, 2 and 3 by 2 Bcf each to
10 bcf utilizing the solution mining under gas process.

SGRM has been successful in commissioning and placing into service
the first three caverns on schedule and reasonably close to
budget.  Thus far, SGRM has completed all construction activities
for Phases I and II and has spent approximately 64% of the total
projects costs for Phase III.  Financial performance, while weaker
than the company's forecast, is within Moody's expectations given
its B1 Corporate Family Rating.  Financial results have been
impacted, in part, by limited hub service activities as a result
of high gas storage demand and the utilization of the SMUG
process.

Phase IV of the project is being undertaken while SGRM continues
to remain highly leveraged.  While the project has been generating
cash flow over the last two years, cash flow levels are expected
to remain modest relative to debt levels through 2012 and the
sponsors could proceed with a fifth cavern development while still
substantially leveraged.  However, the increased leverage
associated with the funding of Phase IV is partially mitigated by
the contract supporting the expansion and the 100% cash flow
sweep.  The Phase IV expansion's revenues are supported by a 10-
year fee-based contract with a highly rated counterparty for the
entire capacity of the cavern.  However, Moody's notes that this
agreement has characteristic out clauses in the event that the
project fails to complete within the prescribed time.

The project remains exposed to inherent delay, completion and cost
overrun risks associated with salt dome storage development.  The
project also faces contract renewal risk.  While 83% of the
project's capacity is contracted at an average tenor of 6.8 years,
as contracts renew they could be exposed to lower rates if storage
market fundamentals were to weaken.  In contrast to the other
phases of the project, SGRM has not locked in a portion of the
Phase IV project costs, but Moody's note that market conditions
have since loosened.  In addition, while Moody's note that all
permits for Phase IV have been received, the project could face
delays stemming from poor weather conditions or equipment or labor
constraints.  Nevertheless, construction risk for Phase IV is
considered moderate relative to earlier phases of the project and
is partially mitigated by the sponsor/management's experience with
the previous phases of the project and considerable experience
developing several salt dome facilities over the past decade; and
the nearly identical Phase IV, with expected expansion economics
resulting in a substantially lower cost per Bcf than the prior
phases of the project.

The last rating action on SGRM was on August 12, 2008, when
Moody's affirmed the company's ratings.

SGRM is 60% owned by SGR Holdings, L.L.C., and 40% ultimately by
ArcLight Energy Partners Fund II, L.P. SGR Holdings and SG
Resources Mississippi, L.L.C., are headquartered in Houston,
Texas.  ArcLight Energy Partners is headquartered in Boston,
Massachusetts.  SGRM is creating by solution mining the first four
of up to five FERC-regulated, high deliverability, salt dome
natural gas storage caverns in the Byrd Salt Dome.


SIGNCRAFT CORPORATION: Case Summary & 20 Largest Unsec Creditors
----------------------------------------------------------------
Debtor: Signcraft Corporation
        dba SignAd
        1304 Brielle Avenue
        Ocean, NJ 07712-3902

Bankruptcy Case No.: 10-30916

Chapter 11 Petition Date: July 7, 2010

Court: United States Bankruptcy Court
       District of New Jersey (Trenton)

Judge: Raymond T. Lyons Jr.

Debtor's Counsel: Peter Broege, Esq.
                  Broege, Neumann, Fischer & Shaver
                  25 Abe Voorhees Drive
                  Manasquan, NJ 08736
                  Tel: (732) 223-8484
                  E-mail: pbroege@bnfsbankruptcy.com

Scheduled Assets: $453,042

Scheduled Debts: $1,103,570

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/njb10-30916.pdf

The petition was signed by Ronald E. Maletich, president.


SILGAN HOLDINGS: Loan Upsizing Cues S&P to Changes Loan Ratings
---------------------------------------------------------------
Standard & Poor's Ratings Services said that it revised the
ratings on Silgan Holdings Inc.'s senior secured credit facilities
and senior unsecured notes following the completion of the
company's new upsized credit facilities.  The expanded borrowing
capacity provides Silgan with greater flexibility with regard to
its strategic initiatives, including the pursuit of acquisitions
and share repurchases.  However, the increase to the facility size
by $350 million results in S&P's expectation for reduced recovery
in a default scenario, and lower recovery ratings.

S&P lowered the issue-level ratings on the final $1.4 billion
senior secured credit facilities to 'BBB-' (one notch above the
'BB+' corporate credit rating) from 'BBB', and S&P revised the
recovery ratings to '2' from '1', indicating its expectation of
substantial (70%-90%) recovery in a payment default scenario.

S&P also lowered the issue-level ratings on the existing
$250 million 7.25% senior notes to 'BB-' (two notches below the
corporate credit rating) from 'BB+', and S&P revised the recovery
ratings to '6' from '4', indicating S&P's expectation of
negligible (0%-10%) recovery in a payment default scenario.

The credit facilities include an $800 million revolving credit
facility (upsized from $550 million), a $400 million U.S. term
loan A (up from the previously planned $300 million term loan), an
?125 million term loan, and a C$81 million term loan.

The corporate credit rating on Silgan is 'BB+' and the outlook is
stable.

                           Ratings List

                       Silgan Holdings Inc.

         Corporate credit rating           BB+/Stable/--

                Downgraded/Recovery Ratings Revised

                       Silgan Holdings Inc.

                                            To       From
                                            --       ----
          Senior secured credit facilities  BBB-     BBB
           Recovery rating                  2        1
          Senior unsecured notes            BB-      BB+
           Recovery rating                  6        4


SINOBIOMED INC: Anchie Kuo Resigns as President and CEO
-------------------------------------------------------
Anchie Kuo resigned as President and Chief Executive Officer of
Sinobiomed Inc. effective immediately without any disagreement
with the Company on any matter relating to the Company's
operations, policies or practices.  The Company's board of
directors accepted such resignation on July 5, 2010.

                         About Sinobiomed

Sinobiomed Inc. formerly CDoor Corp. (OTC BB: SOBM)
-- http://www.sinobiomed.com/-- was incorporated in the State of
Delaware.  The Company is a Chinese developer of genetically
engineered recombinant protein drugs and vaccines.  Based in
Shanghai, Sinobiomed currently has 10 products approved or in
development: three on the market, four in clinical trials and
three in research and development.  The Company's products respond
to a wide range of diseases and conditions, including: malaria,
hepatitis, surgical bleeding, cancer, rheumatoid arthritis,
diabetic ulcers and burns, and blood cell regeneration.

                      Going Concern Doubt

Schumacher & Associates Inc., in Denver, expressed substantial
doubt about Sinobiomed Inc.'s ability to continue as a going
concern after auditing the company's consolidated financial
statements for the year ended December 31, 2007.  The auditing
firm reported that the Company has experienced losses since
commencement of operations and has negative working capital and a
stockholders' deficit.

The Company is in the process of researching, developing, testing
and evaluating proposed new pharmaceutical products and has not
yet determined whether these products are technically or
economically feasible.  Management's plan is to actively search
for new sources of capital, including government and non-
government grants toward research projects and new equity
investment.


SK HAND: Court Extends Filing of Schedules Until August 3
---------------------------------------------------------
The Hon. Eugene R. Wedoff of the U.S. Bankruptcy Court for the
Northern District of Illinois extended, at the behest of SK Hand
Tool Corporation, et al., the deadline for the filing of schedules
of assets and liabilities and statements of financial affairs
until August 3, 2010.

The Debtors have begun preparing the schedules and statements but
have several hundred creditors for which to review accounts
payable, pending lawsuits and pre-petition transactions and other
information necessary for schedules and statements. The Debtor
simply need more time to complete the schedules and statements.

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.

SK Hand 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: Gets Court's Interim Okay to Obtain DIP Financing
----------------------------------------------------------
SK Hand Tool Corporation, et al., sought and obtained interim
authorization from the Hon. Eugene R. Wedoff of the U.S.
Bankruptcy Court for the Northern District of Illinois to obtain
postpetition secured financing from Webster Business Credit
Corporation.

The DIP lender has committed to provide up to $$9,250,000.  A copy
of the credit agreement is available for free at:

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

At the time of the bankruptcy filing, the Debtor owed its secured
lender, Webster, approximately $9 million and owed the Pension
Benefit Guaranty Corporation approximately $2.5 million pursuant
to pension fund contributions it failed to make, which failure
resulted in a lien in favour of PBGC.  The Debtor's pre-petition
lending relationship with Webster is founded in the Credit And
Security Agreement dated April 20, 2005, and related loan
documents comprised of (a) revolving credit loan in the principal
maximum amount of up to $9,750,000 and (b) term loans in the
aggregate principal amount of $5,182,000.  Webster's collateral
consists of all of the Debtor's assets.

Colleen E. McManus, Esq., at Much Shelist Denenberg Ament &
Rubenstein, P.C., the attorney for the Debtor, explains that the
Debtors need the money to fund their Chapter 11 case, pay
suppliers and other parties.

The DIP facility will mature on July 31, 2010.  The
DIP facility will incur interest at Base Rate (Prime) + 1.00%,
which equals 4.25%.

Webster has conditioned its postpetition loans to the Debtors upon
(i) the continued retention of Blackman Kallick as the Debtors'
operating assets according to this timeline:

     a. entry of an order approving bidding procedures by July 6,
        2010

     b. approval of Sec. 363 sale process of operating assets
        according to this timeline:

        * entry of an order approving the bidding procedures by
          July 6, 2010;

        * sale hearing by July 26, 2010; and

        * closing of the sale by July 29, 2010;

     c. the final hearing with respect to the court order on the
        Debtors' request for DIP financing to be held by July 26,
        2010; and

     d. reaffirmation of existing guaranties of Claude Fuger and
        Clifford Rusnak to cover the postpetition loans.

The Court has set a final hearing for July 30, 2010, at 7:30 a.m.
on the Debtors' request to use cash collateral.

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.

SK Hand 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: Asks for Court Okay to Sell Certain Assets
---------------------------------------------------
SK Hand Tool Corporation, et al., has sought permission from the
U.S. Bankruptcy Court for the Northern District of Illinois to
sell certain assets free and clear of liens, claims, interests and
encumbrances.

The Debtor spent the last several months, with its investment
banker, General Capital Partners, running a comprehensive
marketing process for the sale of its business.  The Debtor
received more than one letter of intent, but after intense efforts
by the Debtor and GCP to increase the consideration to be paid,
and to attempt to sell all of the Debtor's assets together, the
Debtor finally entered into an Asset Purchase Agreement (the APA)
with Ideal Industries, Inc. (the Buyer).  A copy of the APA is
available for free at:

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

Under the APA, Ideal will acquire the assets -- machinery and
equipment, inventory, intellectual property, certain executory
contracts, supplies, motor vehicles -- at $3,250,000.  Ideal has
tendered a good faith deposit in the amount of $162,500, which the
Debtor will hold in an escrow account.

The Buyer will assume all obligations arising after the Closing
Date under the Acquired Contracts and all cure costs to be paid
pursuant to Section 365 in connection with assumption and
assignment of the Acquired Contracts.

The Debtor submits that, given its current liquidity situation and
continuing deterioration of its business, an expeditious sale of
the Acquired Assets is in the best interests of this estate.  In
fact, the Buyer's potential purchase price is likely to decrease
in the event the proposed sale is not timely consummated; the APA
provides for an order approving Bidding Procedures to be entered
no later than July 6, 2010.  Furthermore, while senior secured
lender Webster Business Credit is willing to support the Debtor's
liquidity pending a sale, Webster is unwilling to extend such
support past July 31, 2010.  Accordingly, the Debtor's proposed
DIP financing is set to expire on July 31, 2010.

In the event that the Debtors receive better offers from other
interested parties, an auction will be held.  The Debtor requires
that bids be submitted no later than 5:00 p.m. Central Standard
Time at least three business days prior to the Auction.

Each qualifying bid will be accompanied by:

     (1) an earnest money deposit by wire transfer, certified or
         cashier's check, in the amount of $162,500;

     (2) an executed confidentiality agreement;

     (3) an executed asset purchase agreement substantially in the
         form of the APA along with a red-line marked against the
         APA; and

     (4) written evidence of a commitment for financing or other
         evidence of the party's ability to consummate the
         transaction and payment of the purchase price in cash at
         the closing.

Each qualifying bid will be irrevocable until the earlier of
(i) the closing sale of the Acquired Assets, or (ii) the
withdrawal of the Acquired Assets for sale by the Debtor.

The Debtor requires that (x) any initial bid at the Auction be
higher and better than the offer of Buyer with a cash payment at
closing that is not less than $3,400,000; and (y) any subsequent
bid at the Auction (a Competing Bid) be at least $25,000 greater
than the preceding bid.

The Buyer will be entitled to a break-up fee in the amount of
$125,000 plus Buyer's reasonable out of pocket legal and other
fees and expenses not to exceed an additional $25,000 in the event
that either (x) the Bankruptcy Court fails to approve a sale to
Buyer as provided herein and instead approves a sale of some or
all of the Acquired Assets to any entity that has submitted a
Competing Bid at the Auction and such sale closes, or (y) Webster
credit bids with respect to, or forecloses on, some or all of the
Acquired Assets.

The Break-Up Fee will be entitled to administrative priority and
will constitute a surcharge on any interest of Seller in the
Acquired Assets which is subject to any lien, security interest or
other encumbrance.

If Buyer elects to participate in bidding at the Auction, Buyer
may credit the Break-Up Fee towards its bid.

If the Debtor receives a Qualifying Bid, the Debtor will conduct
an auction two business days prior to the Sale Hearing on July 26,
2010.

                            Objections

The Official Committee of Unsecured Creditors has objected to the
Debtors' proposed sale of assets, saying that, among other things,
the Debtors haven't provided enough time for a meaningful sale
process, they have provided no evidence that an extremely
compressed sale process is necessary, and that they have provided
no assurance that the Committee will have enough information at
the conclusion of the sale process to be able to make an informed
opinion regarding the ultimate sale.  The Committee claims that
the sale process ensures that no competing bids will be received.

Creditor Pension Benefit Guaranty Corporation also objected to the
sale, saying that the Debtors have failed to provide an
articulated business justification for the proposed sale or
demonstrate that the sale is within the best interests of the
estate.  To the extent that any justifications are provided for
the proposed sale, they are without adequate factual support, PBGC
states.  PBGC also objects because the Debtors' proposed bidding
procedures fail to take into account that a prospective bidder may
wish to assume the defined benefit pension plan sponsored by SK
Hand Tool Corporation, even though assumption of the pension plan
could reduce claims on the Debtors' estates.  According to PBGC,
the proposed bidding procedures fail to provide that in
determining the successful bid to be submitted to the Court for
approval, the Debtors will give credit for the value of the
liabilities under any pension plan that a bidder agrees to assume.
PBGC requests that the bid procedures require that each bid state
whether it includes pension plan assumption, and that the Debtors
provide to PBGC copies of all bids received by the Debtors.

The Committee is represented by Neal, Gerber And Eisenberg LLC.
PBGC is represented by Charles Finke, Andrea M. Wong, Courtney L.
Hansen, and Michael A. Maricco -- hansen.courtney@pbgc.gov and
efile@pbgc.gov

                           About SK Hand

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.

SK Hand 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.


SKILLED HEALTHCARE: Rebounds After Bankruptcy Concern Abates
------------------------------------------------------------
Carla Main at Bloomberg News reported July 9 that Skilled
Healthcare Group, Inc. (NYSE: SKH) rebounded as Barclays Plc said
the nursing-home operator can avoid bankruptcy.  Shares of the
Foothill Ranch, California-based company had the second-biggest
gain in the Russell 2000 Index, rising 54% to $2.34 in New York,
after analyst Brendan Strong said a settlement may be reached
during the next few weeks.

"Based on our discussions with one of the plaintiff's attorneys,
we believe a negotiated settlement is likely and believe there is
a low likelihood that SKH would be forced into bankruptcy," Strong
wrote in a note to clients July 8, referring to the company's
stock ticker.

Skilled Healthcare plunged 76% on July 7 after it received a $671
million verdict from a California jury.  The verdict is the
largest jury award in the U.S. this year, according to data
compiled by Bloomberg.  Skilled Healthcare said the award exceeds
its insurance policy limits.

As reported by the TCR, the verdict against the Company related to
a complaint filed more than four years ago.  In the first phase of
deliberations, the jury awarded the plaintiffs $613 million in
statutory damages and $58 million in restitutionary damages.  The
jury has yet to hear the punitive damages phase of the trial and
will continue to further deliberate.

The Company's primary professional liability insurance coverage
has been exhausted for the policy year applicable to this case.

                About Skilled Healthcare Group

Skilled Healthcare Group, Inc. based in Foothill Ranch,
California, is a holding company with subsidiary healthcare
services companies, which in the aggregate had consolidated annual
revenues of nearly $760 million and approximately 14,000 employees
as of March 31, 2010.  Skilled Healthcare Group and its wholly-
owned companies operate long-term care facilities and provide a
wide range of post-acute care services, with a strategic emphasis
on sub-acute specialty health care.  The Company operates long-
term care facilities in California, Iowa, Kansas, Missouri,
Nevada, New Mexico and Texas, including 78 skilled nursing
facilities that offer sub-acute care and rehabilitative and
specialty health skilled nursing care, and 22 assisted living
facilities that provide room and board and social services.


SNP BOAT: Can Sell Sixty Five Vessel to Brian Harvey for $2.75MM
----------------------------------------------------------------
The Hon. John K. Olson of the U.S. Bankruptcy Court for the
Southern District of Florida authorized SNP Boat Service SA, to
sell M/Y Sixty Five Vessel to Brian Harvey and his assigns.

The buyer and Allied Marine, as broker, are directed to transfer
all funds directly to the Adorno & Yoss trust account.  As Allied
Marine received the sum of $275,000 as deposit on May 18, 2010, it
is directed to transfer the sum of $137,500 to the Adorno & Yoss
trust account.

Allied Marine will receive a commission of 5% of the $2,750,000
purchase price at closing, which equals to $137,500.

Cannes, France-based SNP Boat Service SA aka Service Navigation De
Plaisance Boat Service SA is a unit of the Rodriguez Group SA
which makes luxury yachts.  The Rodriguez Group owns 99.7% of SNP
Boat.

Adorno & Yoss, LLP, filed for a Chapter 15 petition for SNP Boat
on April 6, 2010 (Bankr. S.D. Fla. Case No. 10-18891.)

Mark S. Roher, Esq., assist SNP Boat in their restructuring
effort.  The Debtor listed assets and debts both ranging from
$100,000,001 to $500 million.


SONIA HARRIS: Case Summary & 12 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Sonia Martha Harris
        2669 Le Conte Avenue
        Berkeley, CA 94709

Bankruptcy Case No.: 10-47718

Chapter 11 Petition Date: July 8, 2010

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

Judge: Edward D. Jellen

Debtor's Counsel: Iain A. Macdonald, Esq.
                  Macdonald and Associates
                  221 Sansome Street, Third Floor
                  San Francisco, CA 94104
                  Tel: (415) 362-0449
                  E-mail: iain@macdonaldlawsf.com

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

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

A copy of the Debtor's list of 12 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/canb10-47718.pdf

The petition was signed by the Debtor.


SONICWALL INC: S&P Assigns Corporate Credit Rating at 'B'
---------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B'
corporate credit rating to San Jose, Calif.-based network security
company SonicWALL Inc.

At the same time, S&P assigned a 'BB-' issue-level rating and a
recovery rating of '1' to the senior secured facility, consisting
of a $15 million revolving credit facility and a $155 million
first-lien term loan.  The '1' recovery rating indicates very high
(90%-100%) recovery of principal in the event of default.

"The ratings on SonicWALL primarily reflect its high leverage,
narrow business profile, modest scale, and significant
technological obsolescence risk," said Standard & Poor's credit
analyst Joseph Spence.  Its relatively stable performance during
the recent downturn, good level of contractually based recurring
revenues, and low asset intensity all offset those weaknesses, in
part.

SonicWALL is a designer, developer, and marketer of network
security, content security, and business continuity solutions
globally.  The company derives about 80% of its revenues from its
flagship Universal Threat Management product, which performs
multiple security functions in a single appliance, such as network
firewalling, intrusion prevention, anti-virus, anti-spam, VPN,
content filtering, and on-appliance reporting.


STATION CASINOS: Creditors Committee Says Plan Unconfirmable
------------------------------------------------------------
The Official Committee of Unsecured Creditors for Station Casinos
Inc. asserts that the Debtors' proposed Disclosure Statement
accompanying their proposed plan of reorganization dated June 15,
2010, cannot be approved because:

   (i) the Debtors have failed to satisfy their burden of
       providing adequate information so that their creditors can
       make an intelligent and informed decision as to whether to
       accept or reject the Plan; and

  (ii) the plans of reorganization proposed for SCI and Propco
       are patently unconfirmable as a matter of law.

According to the Committee, the Disclosure Statement is lacking
material information, analysis and projections necessary for
creditors to understand the adequacy of the Debtors'
restructuring efforts with respect to each Debtor and the
treatment that each Plan will afford to its creditors' claims.

Specifically, the Committee notes, the Disclosure Statement is
inadequate because:

   -- it does not adequately describe the value of the New Propco
      Purchased Assets;

   -- it does not adequately describe the Committee's motion for
      standing to pursue certain claims;

   -- it does not disclose the existence of assets potentially
      available for the benefit of unsecured creditors;

   -- it contains contradictory statements regarding the
      treatment and voting rights of Class S.7;

   -- it fails to include essential schedules;

   -- the Liquidation Analysis does not provide sufficient
      information for creditors to determine whether they will
      receive more under the Plan than in liquidation;

   -- it fails to disclose the identity and compensation of the
      Debtors' postpetition officers and directors;

   -- it fails to contain sufficient information regarding the
      uncertainty of consummation and distributions;

   -- it fails to provide adequate information about the scope of
      the exculpation provision; and

   -- it fails to contain a clear statement as to the mechanics
      to be utilized in connection with the release of consents.

In a separate filing, Brett Axelrod, Esq., at Fox Rothschild,
LLP, submitted with the Court a declaration in support of the
Committee's objection.  The Declaration contains full-text copies
of transcripts, opinions, and filings that are referred to in the
Objection.  The exhibits are available for free at:

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

In an ex parte motion, the Committee seeks the Court's authority
to file an unredacted version of the Objection under seal, as
well as Exhibit 4 to the Axelrod Declaration under seal.  The
Committee says certain of the Documents obtained by it contain
non-public information that may be confidential.  The Committee
relates that some of the Documents were specifically marked
"confidential" or provided under a blanket assertion of
confidentiality.  The Committee maintains that although there is
no formal confidentiality agreement in place, it has been its
understanding that it would take the proper steps to protect the
confidentiality of the Documents.

                     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)


STATION CASINOS: Files Liquidation Analysis & Fin'l Projections
---------------------------------------------------------------
Station Casinos Inc. and its units delivered to the U.S.
Bankruptcy Court for the District of Nevada exhibits to the
Disclosure Statement accompanying their joint Chapter 11 plan of
reorganization on June 25, 2010.  The exhibits contain the Plan, a
Schematic of Restructuring Transactions, Liquidation Analysis for
the Propco/Mezzco Debtors, and a Projected Financial Information.

A full-text copy of the June 25 Plan is available for free
at http://bankrupt.com/misc/sciplanjune25.pdf

               Propco/Mezzco Liquidation Analysis

With respect to the Propco Properties, the Propco/Mezzco
Liquidation Analysis assumes that those assets are sold as
continuing operations with a normal level of working capital.
Therefore, the recovery percentage related to these assets is
based on the estimated range of value that may be obtained in a
going concern sale transaction, less an assumed forced sale
discount of 25%.

The Propco/Mezzco Liquidation Analysis identifies the potential
"excess" cash above the operating requirements of the Propco
Properties as recoverable -- approximately $100 million.  All
other Cash and Cash Equivalents -- $45 million -- are assumed to
be purchased by the buyers of the Propco Properties.

In addition, the Propco/Mezzco Liquidation Analysis assumes
that cash flows from the operation of the PropCo Properties
during the 12-month liquidation period will total approximately
$150 million, resulting in a total estimated distributable cash
balance of $250 million.

Total fees of professionals have been estimated at $3 million per
month for the duration of the wind-down period.  Lazard Freres &
Co. LLC, the Debtors' financial advisor, believes that this
assumption is a reasonable one and may in fact be conservative in
light of the fact that professional fees incurred by the Debtors
have ranged approximately between $4 million and $7 million per
month since the Petition Date.

The Propco/Mezzco Liquidation Analysis assumes a gradual decline
in corporate overhead during the wind-down period, with total
corporate overhead during the wind-down period estimated at $10
to $20 million.

A full-text copy of the Liquidation Analysis is available for
free at http://bankrupt.com/misc/sciliquidanajune25.pdf

                   Financial Projections

SCI's projections for 2010 net revenues at New PropCo are based
on, among other things, an analysis of current and projected
market conditions, unemployment rates and consumer confidence
levels, which the Company believes will continue to be
challenging through much of 2010.  SCI expects 2010 net revenues
at New PropCo to decrease approximately 5% as compared to 2009,
driven by continued difficult conditions in Las Vegas locals
market.  For 2011, 2012, 2013 and 2014, SCI expects net revenues
to increase approximately 4%, 5%, 5% and 5%, driven mainly by
anticipated improvement of the economic conditions in Las Vegas
locals market.

SCI's projections assume that, immediately after the Effective
Date, New PropCo's debt will include the Term Loan Facility, with
$1.6 billion in outstanding amounts and $100 million Revolving
Credit Facility.

A full-text copy of the Financial Projections is available for
free at http://bankrupt.com/misc/scifinlprojjune25.pdf

                     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)


STATION CASINOS: Various Parties Object to Chapter 11 Plan
----------------------------------------------------------
Various parties have filed objections to the adequacy of the
information in the disclosure statement explaining the Plan of
reorganization for Station Casinos Inc.  Some objections also
question the confirmability of the Plan.

The Independent Lenders to Station Casinos, Inc., comprised of
Allen & Company, BNP Paribas, The Bank of Nova Scotia, Castlerigg
Master Investments Ltd., Natixis, and Silver Point Capital,
assert that the Disclosure Statement cannot be approved unless
the Debtors prepare a revised Disclosure Statement that satisfies
their obligations under Section 1125 of the Bankruptcy Code.
According to the Independent Lenders, the law is clear that a
disclosure statement should not be approved when the plan
described therein is unconfirmable as a matter of law.  The
Independent Lenders assert that the Debtors' Plan cannot be
confirmed because it:

   (a) violates Sections 524(2) and 1129 of the Bankruptcy
       Code by including illegal de facto releases of claims of
       creditors against non-Debtor insiders and third parties;
       and

   (b) violates Section 1122 of the Bankruptcy Code with
       respect to the classification of unsecured claims against
       SCI.

The Debtors, in response, contend that the Independent Lenders
misconstrue and mischaracterize the Plan by trying to manufacture
arguments that the Disclosure Statement should not be approved
because the Plan is unconfirmable on its face.  With respect to
the Independent Lenders' complaint that the Disclosure Statement
is deficient, the Debtors assert that the complaints are nothing
more than what has become the Independent Lenders' recurring theme
of trying to disrupt a reorganization process in which they refuse
to participate in any constructive way.

In addition, Wilmington Trust Company of New York, in its capacity
as Indenture Trustee, asserts that the Disclosure Statement does
not contain sufficient information to satisfy the requirements of
Section 1125 of the Bankruptcy Code.  According to Wilmington
Trust, the Disclosure Statement still includes numerous blanks as
well as sections which state merely "[To Come]."  Wilmington Trust
maintains that the lack of complete information in the current
form of the Disclosure Statement prevents creditors from making
informed decisions about the Plan.

The Debtors counter that Wilmington Trust's objections relating to
the mechanics of voting and distributions and payment of
purported fees and expenses are irrelevant.  The Debtors note
that under the Plan, Class S.6, which will not receive a
distribution, is deemed to reject and is not voting.  Similarly,
the Debtors maintain, Wilmington Trust's objections regarding its
fees and expenses under the indenture are also irrelevant.  The
Debtors dispute Wilmington Trust's contention that its fees and
expenses are administrative expenses.

Moreover, Law Debenture Trust Company of New York, in its capacity
as Trustee, suggests, among other things, these clarifications to
the Disclosure Statement:

   -- The definitions of "Voting Record Date" and "Distribution
      Record Date" should include specific time of day in order
      to avoid confusion as to the identity of holders who are
      entitled to receive distributions on account of the
      Revised Plan; and

   -- Definitions of "Senior Notes Trustee" and "Subordinated
      Notes Trustee" should be added:

      "Senior Notes Trustee" means Law Debenture Trust Company of
       New York, not in its individual capacity, but solely as
       Trustee under the Senior Notes Indenture;

      "Subordinated Notes Trustee" means Wilmington Trust
       Company, not in its individual capacity, but solely as
       Trustee under the Subordinated Notes Indenture.

                     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)


TEXAS RANGERS: May Negotiate Sale Agreement with New Bidder
-----------------------------------------------------------
Carla Main at Bloomberg News reports that the Texas Rangers
Baseball Partners may reach a sale agreement with a new bidder to
lead off its auction, replacing a deal with a group led by Chuck
Greenberg and Nolan Ryan, the chief restructuring officer for the
team's owners said.  The baseball team may scrap a sale agreement
with the Greenberg-Ryan group and make one with a new buyer that
would be subject to higher bids at an auction, William Snyder, the
restructuring officer, said late last week in a phone interview
with Bloomberg.

According to the Bloomberg report, the Rangers last week withdrew
a request in the U.S. Bankruptcy Court in Fort Worth, Texas, for
permission to hold a July 16 auction.  The team said earlier this
week that it would hold an auction with the Greenberg-Ryan group
acting as the lead bidder.

The Rangers will seek court approval for a sales process with new
terms and conditions, Mr. Snyder said, according to the report.
He declined to name other potential bidders or say how many are
interested in buying the baseball team.  It's possible the
Greenberg-Ryan group could remain the lead bidder at the auction,
according to Mr. Snyder.

                        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.


TEXAS RANGERS: Dallas Mavericks' Owner Mark Cuban Eyes Bid
----------------------------------------------------------
Josh Kosman at The New York Post reports that Mark Cuban, owner of
the Dallas Mavericks in the National Basketball Association, has
emerged as a bidder for the Texas Rangers, joining forces with
former sports agent Dennis Gilbert and Texas businessman Jeff Beck
to make a play for the bankrupt baseball team, according to a
source close to the situation.

"I think Cuban is serious," the source told the Post.

Mr. Cuban did not return an e-mail for comment, the Post says.

The Post recalls that Mr. Cuban in 2008 was reportedly the highest
bidder for the then-bankrupt Chicago Cubs.  However, MLB had the
right to approve a buyer and reportedly did not want Mr. Cuban.

The source told the Post that Mr. Cuban, this time around, has a
decent shot at buying the Rangers even though a bidding group led
by Hall of Fame pitcher Nolan Ryan is favored by MLB and the team.

Mr. Ryan and former Pittsburgh Attorney Chuck Greenberg made a
$575 million bid for the team and its parking facilities, but
senior creditors believe they can get a higher price through a
bankruptcy auction.  The judge handling the Rangers' bankruptcy
case has ruled that there should be an auction and that Mr. Ryan's
group was not entitled to the $15 million breakup fee it wanted
for being the favored bidder.  Now, the Ryan team will receive
only $1.5 million if another bidder bests its offer by a court-set
July 22 deadline.

According to the Post, MLB likely favored Mr. Ryan because it was
comfortable with the former pitching star.  At the same time,
Rangers owner Tom Hicks supported Mr. Ryan because his bid also
included $75 million for the stadium's parking facilities, which
Mr. Hicks would directly pocket.  Other suitors now do not need to
bid for the parking facilities, or might pay much less for them.

                        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.


TOP SHELF: Case Summary & 8 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Top Shelf Storage II, LLC
        105 Estes Place
        Panama City Beach, FL 32413

Bankruptcy Case No.: 10-50512

Chapter 11 Petition Date: July 7, 2010

Court: United States Bankruptcy Court
       Northern District of Florida (Panama City)

Debtor's Counsel: Charles M. Wynn, Esq.
                  Charles M. Wynn Law Offices, P.A.
                  P.O. Box 146
                  Marianna, FL 32447
                  Tel: (850) 526-3520
                  Fax: (850) 526-5210
                  E-mail: wynnlawbnk@earthlink.net

Scheduled Assets: $1,702,325

Scheduled Debts: $2,191,887

A list of the Company's 8 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flnb10-50512.pdf

The petition was signed by Lee A. Sage, as president of Top Shelf
I, LLC.


TRANS-LUX CORPORATION: Receives NYSE Amex Notice of Non-Compliance
------------------------------------------------------------------
Trans-Lux Corporation received a letter from the NYSE Amex
("Exchange") advising that the Company is not in compliance with
two of the Exchange's continued listing standards.

Specifically, the Company is not in compliance with Section
1003(a)(iii) of the Exchange's Company Guide in that it has
stockholder equity at March 31, 2010 of less than $6.0 million and
losses from continuing operations and net losses in its five most
recent fiscal years and Section 1003(a)(iv) of the Company Guide
in that it is financially impaired.

The Exchange stated in its letter that in order to maintain its
listing, the Corporation must submit a plan by August 2, 2010,
addressing how it intends to regain compliance with Section
1003(a)(iv) regarding financial impairment by January 4, 2011, and
Section 1003(a)(iii) on stockholder equity and losses within 18
months or January 4, 2012 (the "Plan").

The Corporation intends to request additional time to submit the
Plan. If the Plan is not submitted or not accepted, the
Corporation will be subject to delisting proceedings.
Furthermore, if the Plan is accepted and the Corporation is not in
compliance with the continued listing standards by January 4, 2011
or if the Corporation does not make progress consistent with the
Plan during the time periods, the Exchange staff will initiate
delisting proceedings as appropriate.

                          About Trans-Lux

Trans-Lux Corporation -- http://www.trans-lux.com-- is a leading
designer and manufacturer of digital signage display solutions for
the financial, sports and entertainment, gaming and leasing
markets.  With a comprehensive offering of LED Large Screen
Systems, Fair-Play branded Scoreboards, and Trans Lux Energy LED
lighting solutions, Trans Lux Corporation delivers comprehensive
digital signage solutions for any size venue's indoor and outdoor
display needs.


TRAVEL SPAN: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Travel Span, Inc.
        aka Travel Span Vacations
        110 West 34th Street, Suite 305
        New York, NY 10001

Bankruptcy Case No.: 10-13629

Chapter 11 Petition Date: July 8, 2010

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

Debtor's Counsel: Kenneth A. Reynolds, Esq.
                  McBreen & Kopko
                  500 North Broadway, Suite 129
                  Jericho, NY 11753
                  Tel: (516) 364-1095
                  Fax: (516) 364-0612
                  E-mail: kreynolds@mklawnyc.com

Scheduled Assets: $565,917

Scheduled Debts: $7,135,723

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nysb10-13629.pdf

The petition was signed by Nohar Singh, president.


TRENTON LAND: Court Extends Filing of Schedules Until July 26
-------------------------------------------------------------
The Hon. Thomas J. Tucker of the U.S. Bankruptcy Court for the
Eastern District of Michigan extended, at the behest of Trenton
Land Holdings, LLC, the filing of schedules of assets and
liabilities and statement of financial affairs until July 26,
2010.

The schedules and statement were previously due on July 13, 2010.
The Debtor said that it will be unable to complete all of the work
required to complete the schedules and the statement.  The Debtor
asked for additional time because the bankruptcy case was filed
unexpectedly early in response to creditor action which cut short
the time prior to the commencement of the case.  The Debtor said
that has a limited amount of staff available to assemble the
information needed to complete the schedules and the statement and
that its counsel will be out of town the week of July 5, 2010.

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.


TRONOX INC: Anadarko & Kerr-McGee Want Decision on Contract
-----------------------------------------------------------
Anadarko Petroleum Corporation and Kerr-McGee Corporation ask the
Court to compel the Debtors to assume or reject a certain master
separation agreement.

In connection with the 2005 separation of the Debtors from Kerr-
McGee, certain Debtors and Kerr-McGee entered into a Master
Separation Agreement governing, among other things, the ongoing
obligations of the parties after the separation.

After approximately 17 months in bankruptcy, the negotiation of a
potential sale that detailed the contracts to be assumed and
assigned to the buyer, and the subsequent negotiation of a
standalone plan of reorganization, the Debtors have failed to
elect to either assume or reject the Master Separation Agreement,
Richard A. Rothman, Esq., at Weil Gotshal & Manges LLP, in New
York, relates.

"This is so despite the fact that they have clearly evaluated the
impact of such assumption or rejection in connection with both
the aborted sale process and the Chapter 11 plan process," Mr.
Rothman says.  He adds that "by failing to apprise all parties in
interest of their decision to assume or reject the Master
Separation Agreement, the Debtors have fostered continued, but
unnecessary, expenses and uncertainty."

Mr. Rothmans also contends that based on the Debtors' actions in
the Adversary Proceeding, they clearly have already elected to
reject the Master Separation Agreement.

For these reasons, Anadarko and Kerr-McGee assert that the
Debtors should be formally required to seek to either assume or
reject the Master Separation Agreement by August 10, 2010.

                       About Tronox Inc.

Tronox Inc., aka New-Co Chemical, Inc., and 14 other affiliates
filed for Chapter 11 protection on January 13, 2009 (Bankr.
S.D.N.Y. Case No. 09-10156).  The case is before Hon. Allan L.
Gropper. Richard M. Cieri, Esq., Jonathan S. Henes, Esq., and
Colin M. Adams, Esq., at Kirkland & Ellis LLP in New York,
represent the Debtors.  The Debtors also tapped Togut, Segal &
Segal LLP as conflicts counsel; Rothschild Inc. as investment
bankers; Alvarez & Marsal North America LLC, as restructuring
consultants; and Kurtzman Carson Consultants serves as notice and
claims agent.

An official committee of unsecured creditors and an official
committee of equity security holders have been appointed in the
cases.  The Creditors Committee has retained Paul, Weiss, Rifkind,
Wharton & Garrison LLP as counsel.

Until September 30, 2008, Tronox Inc. was publicly traded on the
New York Stock Exchange under the symbols TRX and TRX.B.  Since
then, Tronox Inc. has traded on the Over the Counter Bulletin
Board under the symbols TROX.A.PK and TROX.B.PK.  As of
December 31, 2008, Tronox Inc. had 19,107,367 outstanding shares
of class A common stock and 22,889,431 outstanding shares of class
B common stock.

Bankruptcy Creditors' Service, Inc., publishes Tronox Bankruptcy
News.  The newsletter tracks the Chapter 11 proceeding undertaken
by Tronox Inc. and its 14 affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


TRONOX INC: Unsecured Creditors to Recover At Least 80% Under Plan
------------------------------------------------------------------
Tronox Incorporated and its debtor affiliates filed a Chapter 11
Plan of Reorganization and an accompanying Disclosure Statement
with the United States Bankruptcy Court for the Southern District
of New York on July 8, 2010.

The Plan contains the framework of agreements Tronox is
formulating with its principal creditors, namely the United
States government, several states, its unsecured creditors'
committee, various tort claimants and its equity committee.  The
Plan is premised upon the transfer of Tronox's legacy
environmental and tort liability to certain trusts to be funded
upon Tronox's emergence from bankruptcy.

Under the Plan:

  * newly created government trusts responsible for
    environmental remediation at properties located throughout
    the United States will be funded with a package of
    consideration that includes (i) up to $145,000,000 in cash,
    (ii) 88% of Tronox's interest in pending litigation against
    Anadarko Petroleum Corporation and Kerr-McGee Corporation,
    (iii) preferred stock and warrants convertible to common
    equity of Reorganized Tronox, allowing the trusts to share
    the benefit of improvements in Tronox's enterprise value,
    and (iv) certain other real property, insurance and
    financial assurance assets;

  * tort claims will be satisfied through separate trusts funded
    with 12% of the Anadarko Litigation proceeds, $7,000,000 in
    cash and certain insurance assets.  If tort claimants vote
    to reject the Plan, they will share in the general unsecured
    pool and Tronox will retain 12% of the Anadarko Litigation
    and the $7,000,000 in cash;

  * general unsecured claims, including claims held by the
    company's prepetition noteholders, are slated to receive all
    of the primary common equity of Reorganized Tronox.  Tronox
    expects general unsecured creditors will recover between 80
    and 100% of their claims based on plan valuation; and

  * existing equity holders will recover warrants to purchase up
    to 5% of the common equity if they vote to accept the Plan.

"The filing of the Plan is a key milestone for Tronox as it
focuses on emerging from Chapter 11.  We believe the Plan
contains the elements necessary to achieve a consensual
settlement of our environmental and other legacy liabilities,"
Tronox Chairman and Chief Executive Officer Dennis Wanlass said
in a press release dated July 8.

"Importantly, the Plan would enable Tronox to emerge from Chapter
11 as a going concern, responsibly capitalized and well
positioned to ensure its long-term viability for the benefit of
all stakeholders -- including the environmental trusts and
agencies responsible for serving the public interest," Mr.
Wanlass added

                 Summary of Treatment of Claims

A. Class 1 - Priority Non-Tax Claims

  Each Holder of an Allowed Class 1 Claim will be paid in full
  in Cash on or as reasonably practicable after (i) the Plan's
  effective date, or (ii) the date on which the Priority Non-Tax
  Claim becomes allowed.

B. Class 2 - Secured Claims

  In the sole discretion of Tronox, each Holder of an Allowed
  Class 2 Claim will receive one of the following treatments:

     -- payment in full in Cash, including the payment of any
        interest required pursuant to section 506(b) of the
        Bankruptcy Code;

     -- delivery of the collateral securing the Allowed Class 2
        Claim; or

     -- other treatment that renders the Allowed Class 2 Claim
        Unimpaired.

C. Class 3 - General Unsecured Claims Including Indirect
  Environmental Claims and the Unsecured Notes Claim

  Holders of Allowed General Unsecured Claims will receive their
  Pro Rata Share of the General Unsecured Claims Pool, which
  consists of 100% of the New Common Stock in Reorganized Tronox
  issued and outstanding as of the Effective Date.

D. Class 4 - Tort Claims

  If Class 4 votes in favor of the Plan, each Holder of a Tort
  Claim will receive a distribution from the applicable Tort
  Claims Trust in accordance with applicable Tort Claims Trust
  Distribution Procedures.  The Tort Claims Trusts will be
  funded on the Effective Date with (i) the right to 12% of the
  proceeds of the Anadarko Litigation, (ii) $7 million in cash,
  and (iii) the Tort Claims Insurance Assets.  The sole recourse
  of Holders of Tort Claims will be to the Tort Claims Trust and
  the Holders will have no right at any time to assert Tort
  Claims against Reorganized Tronox.

  If Class 4 votes to reject the Plan, Holders of Allowed Tort
  Claims will receive their Pro Rata Share of the GUC Pool,
  which consists of 100% of the New Common Stock in Reorganized
  Tronox issued and outstanding as of the Effective Date.

  If Class 4 votes to reject the Plan, Reorganized Tronox will
  retain (i) the right to 12% of the proceeds of the Anadarko
  Litigation (ii) the $7 million in Cash that would have been
  allocated as the Funded Tort Claims Trust Amount and (iii) the
  Tort Claims Insurance Assets; provided, however, that
  Reorganized Tronox shall be required to use any recovery on
  account of its interest in the Anadarko Litigation for general
  working capital, capital expenditures or to pay down debt in
  accordance with the terms of the Exit Credit Agreement.

E. Class 5 - Environmental Claims

  Each Holder of an Environmental Claim will be entitled to
  treatment of its Environmental Claim and receive the
  consideration as is provided in the Environmental Claims
  Settlement Agreement.  On the Effective Date, the
  Environmental Response Trusts (or any other trusts as
  designated by the United States) will be funded with these
  considerations: (i) the right to 88% of the proceeds of the
  Anadarko Litigation; (ii) up to $145 million (but not less
  than $115 million) in Cash (the Funded Environmental Response
  Trust Amount); (iii) the New Convertible Preferred Stock; (iv)
  the New Tranche A and Tranche B Warrants; (v) the Nevada
  Assets; and (vi) the Environmental Insurance Assets.

F. Class 6 - Equity Interests in Tronox Incorporated

  On the Effective Date, all Equity Interests in Tronox
  Incorporated will be cancelled and of no further force or
  effect.

  If Class 6 votes in favor of the Plan, each Holder of an
  Equity Interest in Tronox Incorporated will receive its Pro
  Rata share of New Tranche C Warrants to be issued on the
  Effective Date.

  If Class 6 votes to reject the Plan, there will be no
  distribution to the Holders of Class 6 Equity Interests.

                      Estimated Recoveries

Claims classified under the Plan are estimated to receive these
recoveries:

                     Estimated       Estimated Percent Recovery
                     Aggregate       --------------------------
    Class            Amount             Plan     Liquidation
    -----            ---------       --------------------------
      1             $1,000,000          100%         100%
      2             $1,000,000          100%         100%
      3           $470,600,000         80-100%         0%
      4               Unknown          Unknown         0%

      5         $1,400,000,000 -          -            -
                $5,200,000,000

      6                      -       $3,000,000-       0%
                                     $6,000,000

Under the provisions of the Bankruptcy Code, not all holders of
claims against and interests in a debtor are entitled to vote on
a chapter 11 plan.  Tronox is soliciting votes to accept or
reject the Plan only from holders of Claims and Equity Interests
in Classes 3, 4, 5 and, for settlement purposes only, Class 6.
The holders of Claims and Equity Interests in the Voting Classes
are Impaired under the Plan and may receive a distribution under
the Plan.  Accordingly, holders of Claims and Interest in the
Voting Classes have the right to vote to accept or reject the
Plan.  Tronox is not soliciting votes from holders of Unimpaired
Claims in Classes 1 and 2 because those entities are conclusively
presumed or are otherwise deemed to have accepted the Plan.

                Treatment of Unclassified Claims

General Administrative Claims, Professional Fee Claims,
Replacement DIP Facility Claims, Priority Tax Claims, and United
States Trustee Statutory Fees will receive Cash equal to the
amount of the Claim either (a) on the Effective Date; (b) if the
not Allowed as of the Effective Date, 30 days after the date on
which an order allowing that Claim becomes a Final Order; or (c)
if the Claim is based on a liability incurred by Tronox in the
ordinary course of business during the Postpetition Period,
pursuant to the terms and conditions of the particular
transaction giving rise to the Claims, without any further action
by the Holder of the Allowed Claim.

                 Issuance of New Common Stock

The Plan authorizes the issuance of the New Common Stock,
including options, restricted stock or other equity awards
reserved for the Management Equity Plan, by Reorganized Tronox
Incorporated without the need for any further corporate action or
without any further action by the Holders of Claims.

Tronox will use commercially reasonable efforts to list the
shares of New Common Stock on the New York Stock Exchange or the
NASDAQ Stock Market.  It is anticipated that if listed on the New
York Stock Exchange or the NASDAQ Stock Market, the shares of New
Common Stock will be freely tradable by their holders.

                       Valuation Analysis

Rothschild, Inc., Tronox's financial advisor, has performed an
analysis of the estimated value of Reorganized Tronox on a going-
concern basis.

Based on its analysis, Rothschild estimates the total enterprise
value of Reorganized Tronox at approximately $975,000,000 to
$1,150,000,000, with a midpoint of $1,063,000,000.  Rothschild
reduced the TEV estimates by the estimated pro forma net debt
levels of Reorganized Tronox, which is approximately $510,000,000
to $517,000,000, to estimate the implied reorganized equity value
of Reorganized Tronox.  Rothschild estimates that Reorganized
Tronox's implied total reorganized equity value will range from
$458,000,000 to $640,000,000.

A full-text copy of the Valuation Analysis is available for free
at http://bankrupt.com/misc/TrnxValAnal.pdf

                     Financial Projections

To determine whether the Plan meets the feasibility requirement
of Section 1129(a)(11) of the Bankruptcy Code, Tronox prepared
the financial projections as part of their analysis to meet
obligations under the Plan.

Based upon the financial projections, Tronox believes that
Reorganized Tronox will be a viable operation following the
Chapter 11 cases, and that the Plan will meet the feasibility
requirements of the Bankruptcy Code.

The Financial Projections assume that the Plan will be
implemented in accordance with its stated terms and are based on
forecasts of key economic variables and may be significantly
impacted by, among other factors, changes in the competitive
environment, regulatory changes or a variety of other factors.

The Debtors and their financial advisors project these numbers
for Reorganized Tronox in the next three years:

  (In $ thousands)                2011      2012      2013
                                -------   --------  --------
  Net Income                    $42,975    $22,336   $17,683
  Cash                          $32,531    $32,658   $39,796
  Current Assets               $557,454   $566,616  $584,397
  Long-Term Assets             $389,259   $377,495  $361,733
  Current Liabilities          $166,100   $171,429  $175,743
  Long-Term Liabilities        $623,197   $592,119  $569,085
  Stockholders' Equity         $323,515   $351,992  $377,045

Accordingly, Tronox notes that the estimates and assumptions in
the Financial Projections are inherently uncertain and are
subject to significant business, economic and competitive
uncertainties.

A full-text copy of the Financial Projections is available for
free at http://bankrupt.com/misc/TrnxFinProj.pdf

                      Liquidation Analysis

To satisfy the requirements of Section 1129(a)(7) of the
Bankruptcy Code, Tronox prepared a liquidation analysis.  Based
on the Liquidation Analysis, Tronox believes that holders of
Claims and Interests will receive equal or greater value as of
the Effective Date than they would receive in a Chapter 7
liquidation and that the Plan will therefore meet the "best
interests" test provided in Section 1129(a)(7) of the Bankruptcy
Code.

The Liquidation Analysis assumes an immediate shut down of all
Tronox's operations, the continued remediation of certain Tronox-
owned sites and other sites, and the sale of all other non-Debtor
operations as going concerns.  The liquidation of Tronox's assets
is based on book values as of January 31, 2010, which are assumed
to be representative of Tronox's assets and liabilities at or
about the Liquidation Date.  The Liquidation Analysis also
assumes Tronox's estates are substantively consolidated.

A full-text copy of the Liquidation Analysis is available for
free at http://bankrupt.com/misc/TrnxLiqAnal.pdf

                    Proposed Plan-Related Dates

The Debtors propose the Voting Record Date to be 4:00 p.m.
Pacific Time on August 3, 2010.  The Voting Record Date is the
date on which it will be determined which holders of Claims and
Equity Interests in the Voting Classes are entitled to vote to
accept or reject the Plan and whether Claims and Equity Interests
have been properly assigned or transferred under Rule 3001(e) of
the Federal Rules of Bankruptcy Procedure so that an assignee can
vote as the holder of a Claim or Equity Interest.

The Debtors propose to establish September 30, 2010 as the voting
deadline.

The Debtors also ask the Court to convene a hearing to consider
approval of the Disclosure Statement on August 5, 2010.

A full-text copy of the Chapter 11 Plan is available for free
at http://bankrupt.com/misc/TrnxPlan.pdf

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

                       About Tronox Inc.

Tronox Inc., aka New-Co Chemical, Inc., and 14 other affiliates
filed for Chapter 11 protection on January 13, 2009 (Bankr.
S.D.N.Y. Case No. 09-10156).  The case is before Hon. Allan L.
Gropper. Richard M. Cieri, Esq., Jonathan S. Henes, Esq., and
Colin M. Adams, Esq., at Kirkland & Ellis LLP in New York,
represent the Debtors.  The Debtors also tapped Togut, Segal &
Segal LLP as conflicts counsel; Rothschild Inc. as investment
bankers; Alvarez & Marsal North America LLC, as restructuring
consultants; and Kurtzman Carson Consultants serves as notice and
claims agent.

An official committee of unsecured creditors and an official
committee of equity security holders have been appointed in the
cases.  The Creditors Committee has retained Paul, Weiss, Rifkind,
Wharton & Garrison LLP as counsel.

Until September 30, 2008, Tronox Inc. was publicly traded on the
New York Stock Exchange under the symbols TRX and TRX.B.  Since
then, Tronox Inc. has traded on the Over the Counter Bulletin
Board under the symbols TROX.A.PK and TROX.B.PK.  As of
December 31, 2008, Tronox Inc. had 19,107,367 outstanding shares
of class A common stock and 22,889,431 outstanding shares of class
B common stock.

Bankruptcy Creditors' Service, Inc., publishes Tronox Bankruptcy
News.  The newsletter tracks the Chapter 11 proceeding undertaken
by Tronox Inc. and its 14 affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


TRONOX INC: Wins Approval to Extend DIP Financing Until Sept. 24
----------------------------------------------------------------
Tronox Inc. requested approval from the bankruptcy judge to extend
its $425 million DIP financing until Sept. 24 from June 24.
Although Tronox is trying to broker a consensual reorganization
plan, it's taking longer than expected, the Company said.

Roberta DeAngelis, Acting United States Trustee for Region 3,
points out that on the Petition Date the Debtors previously asked
the Court for authority to file under seal a confidential exhibit
to their request to obtain debtor-in-position financing.  The
confidential exhibit related to the disclosure of the arrangement
fee between the Debtors and Credit Suisse Securities (USA) LLC,
the original lending agent.  The Sealing Motion was denied.

Subsequently, the Debtors were authorized by the Court to enter
into the Replacement DIP Agreement.

The U.S. Trustee notes that various milestones contained in the
Replacement DIP Agreement were not met and the Debtors sought the
Court's approval of an amendment.  In connection, the Debtors are
required to pay certain undisclosed fees to the DIP Agent but the
Debtors want to file the Fee Letter under seal, the U.S. Trustee
further notes.

The U.S. Trustee argues that the failure to file the Fee Letter
violates Section 107 of the Bankruptcy Code and Rule 9018 of the
Federal Rules of Bankruptcy Procedure and should not be
countenanced by the Court.  She adds that without disclosure
regarding the amount of fees to be paid pursuant to the Fee
Letter and the total amount of fees to be paid under the DIP
Amendment, it cannot be determined whether the payments are
reasonable and appropriate pursuant to the Debtor's business
judgment.

In addition, the U.S. Trustee contends that the Debtors and their
lenders have not sought Court approval to seal the Fee Letter and
neither the Debtors nor their lenders have set forth any argument
as to why the Fee Letter should not be filed.

"Rather, the parties have, in effect, sealed the Fee Letter
without Court approval," the U.S. Trustee points out.

For these reasons, the U.S. Trustee asks the Court to deny
approval of the DIP Amendment.

               Debtors File Redacted Fee Letter

The Debtors relate that the Amendment was approved by all the
Lenders resulting in an Amendment Fee payable to the Lenders
amounting $2,125,000.

In support, the Debtors submitted to the Court a redacted copy of
the Fee Letter among Tronox Incorporated, Tronox Worldwide LLC
and Goldman Sachs Lending Partners LLC.

However, after a few days, the Debtors filed an unredacted
version of the Fee Letter, a full-text copy of which is available
for free at http://bankrupt.com/misc/TrnxUnredFeeLttr.pdf

                         *     *     *

The Court authorized the Debtors to enter into the DIP Amendment
and Fee Letter and perform all acts, to make, execute and deliver
all instruments and documents in connection therewith that may be
reasonably required or necessary for the performance of their
obligations under the Amendment and Fee Letter and to pay the
Amendment Fee.

Upon execution and delivery by the Requisite Lenders and Tronox
and satisfaction of the other conditions to effectiveness, the
Amendment and Fee Letter will constitute valid and binding
obligations of Tronox, enforceable against each Debtor party.

No obligation or payment under the DIP Amendment, the Fee Letter
or the Order will be stayed, restrained, voidable, avoidable or
recoverable under the Bankruptcy Code or under any applicable
law, or subject to any defense, reduction, setoff, recoupment or
counterclaim.

Tronox, in a regulatory filing with the U.S. Securities and
Exchange Commission dated June 24, 2010, disclosed that it
entered into a First Amendment to the Credit and Guaranty
Agreement and a First Amendment Pledge and Security Agreement
with the Lenders and the Agent.

Under the Amendment and in exchange for the payment of a fee, the
Agent and the Lenders agreed to (a) extend each of the Conditions
Precedent and to waive the Disclosure Statement Condition, in
order to permit Tronox to extend the maturity date under the
Replacement DIP Facility from June 24, 2010 to September 24,
2010, (b) allow Tronox to engage in certain currency hedging
activities and (c) modify restrictions on Tronox's ability to
make certain capital expenditures that will fund an expansion of
its Australian joint venture.

                       About Tronox Inc.

Tronox Inc., aka New-Co Chemical, Inc., and 14 other affiliates
filed for Chapter 11 protection on January 13, 2009 (Bankr.
S.D.N.Y. Case No. 09-10156).  The case is before Hon. Allan L.
Gropper. Richard M. Cieri, Esq., Jonathan S. Henes, Esq., and
Colin M. Adams, Esq., at Kirkland & Ellis LLP in New York,
represent the Debtors.  The Debtors also tapped Togut, Segal &
Segal LLP as conflicts counsel; Rothschild Inc. as investment
bankers; Alvarez & Marsal North America LLC, as restructuring
consultants; and Kurtzman Carson Consultants serves as notice and
claims agent.

An official committee of unsecured creditors and an official
committee of equity security holders have been appointed in the
cases.  The Creditors Committee has retained Paul, Weiss, Rifkind,
Wharton & Garrison LLP as counsel.

Until September 30, 2008, Tronox Inc. was publicly traded on the
New York Stock Exchange under the symbols TRX and TRX.B.  Since
then, Tronox Inc. has traded on the Over the Counter Bulletin
Board under the symbols TROX.A.PK and TROX.B.PK.  As of
December 31, 2008, Tronox Inc. had 19,107,367 outstanding shares
of class A common stock and 22,889,431 outstanding shares of class
B common stock.

Bankruptcy Creditors' Service, Inc., publishes Tronox Bankruptcy
News.  The newsletter tracks the Chapter 11 proceeding undertaken
by Tronox Inc. and its 14 affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


TRUVO USA: Gets Interim Okay to Use Cash Collateral
---------------------------------------------------
Truvo USA LLC, et al., sought and obtained interim authorization
from the Hon. Arthur J. Gonzalez of the U.S. Bankruptcy Court for
the Southern District of New York to use the cash collateral of
JPMorgan Europe Limited, as Senior Agent and Security Agent, and
the Senior Lenders.

In 2007, TAC (a Debtor in these Chapter 11 proceedings) and
certain other members of the Truvo Group entered into a
EUR1.025 billion senior secured credit facility agreement (the
Senior Facility Agreement and the borrowings thereunder, the
Senior Loans) with J.P. Morgan Europe Limited as facility agent,
which was funded by a group of international financial
institutions (the Senior Lenders).  All borrowings under the
Senior Facility Agreement were made by Operating Subsidiaries and
are guaranteed and secured, on a first-lien basis, by TAC, TUSA
and certain Operating Subsidiaries.  The Senior Facility Agreement
also provides for a EUR50 million revolving facility made
available to one of the Operating Subsidiaries, but no amounts are
outstanding under the Revolving Facility.  Pursuant to the Plan
Support Agreement, the Revolving Facility will be cancelled
shortly after the Petition Date.  As of the Petition Date,
approximately EUR777.6 million, plus accrued interest, is
outstanding under the Senior Loans.

In 2004, HY Notes Issuer (a Debtor in these Chapter 11
proceedings) issued EUR395 million of 8.5% Senior HY Notes due
2014 (the 8.5% HY Notes) and $200 million of 8.375% Senior HY
Notes due in 2014.

In 2007, PIK Borrower (a Debtor in these Chapter 11 proceedings)
entered into a EUR130.1 million PIK loan agreement (the PIK Loan
Agreement, and the borrowings thereunder, the PIK Loans) with J.P.
Morgan Europe Limited, as the administrative agent, and funded by
a group of international financial institutions (the PIK Lenders).
The obligations under the PIK Loans are not guaranteed by any
member of the Truvo Group, nor are they secured by any pledges or
security interests granted by any member of the Truvo Group.  The
outstanding obligation under the PIK Loans as of the Petition Date
is approximately EUR173 million.

The relative rights and priorities in respect of the Senior Loans,
the HY Debt, the PIK Loans, certain intercompany loans and
investor debt are governed by an Intercreditor Agreement dated as
of May 23, 2007.  Generally, the Intercreditor Agreement provides
that the obligations under the Senior Loans rank first,
obligations under the HY Notes rank second, obligations under the
PIK Loans rank third and certain intercompany debt ranks fourth.

Sean A. O'Neal, Esq., at Cleary Gottlieb Steen & Hamilton LLP, the
attorney for the Debtors, explains that the Debtors need the money
to fund their Chapter 11 case, pay suppliers and other parties.
The Debtors will use the collateral pursuant to a budget, a copy
of which is available for free at:

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

In exchange for using the cash collateral, the Debtors propose to
grant the Senior Lenders perfected replacement liens and
replacement security interests, and superpriority administrative
claim.  The Debtors and certain of the non-Debtor subsidiaries
will make adequate protection payments (the Adequate Protection
Payments) in the form of: (i) payments in cash of all cash-pay
interest (at the non-default rate), fees and other amounts when
and as due under the Senior Facility Agreement, (ii) ongoing
payment of the reasonable postpetition fees, costs and expenses of
the advisors to the CoComm, the Elliott Lender, the Senior Agent
and the Security Agent, including the reasonable postpetition (and
unpaid prepetition) fees and expenses of legal, financial
advisory, investment banking and other professionals (including
Linklaters LLP, N.M. Rothschild & Sons Limited, Kleinberg, Kaplan,
Wolff & Cohen, P.C., Allen & Overy LLP and any replacement or
addition thereto that the CoComm, the Elliott Lender, the Senior
Agent or the Security Agent deems reasonably appropriate) retained
by the CoComm, the Elliott Lender, the Senior Agent and the
Security Agent, and (iii) the reasonable fees and out-of-pocket
disbursements of the four members of the CoComm.

The Court has set a final hearing for July 22, 2010, at 10:00 a.m.
on the Debtors' request to use cash collateral.

                           About Truvo USA

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).  Sean A. O'Neal, Esq.,
and Thomas J. Moloney, Esq., at Cleary Gottlieb Steen & Hamilton,
LLP, and Vincent Edward Lazar, Esq., at Jenner & Block LLP, assist
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: Wants to Hire Jenner & Block as Conflicts Counsel
------------------------------------------------------------
Truvo USA LLC, et al., have asked for permission from the U.S.
Bankruptcy Court for the Southern District of New York to employ
Jenner & Block LLP as conflicts counsel.

Jenner & Block will, among other things:

     (a) attend meetings and negotiate with representatives of
         creditors and other parties in interest;

     (b) take necessary action to protect and preserve the
         Debtors' estates, including any necessary action in
         connection with the motion for temporary restraining
         order filed concurrently herewith, prosecuting actions on
         the Debtors' behalf, defending any action commenced
         against the Debtors and representing the Debtors'
         interests in negotiations concerning litigation in which
         the Debtors are involved, including objections to claims
         filed against the estates;

     (c) prepare motions, applications, answers, orders, appeals,
         reports and papers necessary to the administration of the
         Debtors' estates; and

     (d) take any necessary action on behalf of the Debtors to
         Obtain approval of a disclosure statement and
         confirmation of one or more Chapter 11 plans.

Jenner & Block will be paid based on the hourly rates of its
personnel:

         Partners                       $525-$825
         Associates                     $325-$555
         Paralegals                     $230-$275
         Project Assistants             $160-$170

Vincent E. Lazar, a partner at Jenner & Block, assures the Court
that the firm is a "disinterested person" as that term is defined
in Section 101(14) of the Bankruptcy Code.

Contemporaneously herewith, the Debtors are applying to retain
Cleary Gottlieb Steen & Hamilton LLP as attorneys under a general
retainer to represent them in the Chapter 11 cases.  It is
anticipated that there may be matters with respect to which
Cleary Gottlieb cannot represent the Debtors because of an actual
or perceived conflict.  The Debtors seek court approval to employ
and retain Jenner & Block as their conflicts counsel in connection
with the Chapter 11 cases to handle matters that the Debtors may
encounter which are not appropriately handled by Cleary Gottlieb
and other professionals because of a potential conflict of
interest or, alternatively, which can be more efficiently handled
by Jenner & Block.  This will avoid unnecessary litigation and
reduce the overall expense of administering the Chapter 11 cases,
the Debtors say.

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.


TRUVO USA: Wants to Hire Houlihan Lokey as Financial Advisor
------------------------------------------------------------
Truvo USA LLC, et al., have sought permission from the U.S.
Bankruptcy Court for the Southern District of New York to employ
Houlihan Lokey Howard Zukin (Europe) Limited as investment banker
and financial advisor, nunc pro tunc to the Petition Date.

Houlihan Lokey will, among other things advise the Debtor on:

     (a) the sale, transfer or assumption, or any similar
         transaction, including without limit any acquisition or
         merger, with one or more third parties involving all or a
         substantial part of the assets, liabilities or securities
         of the Group;

     (b) the cancellation, restructuring, repayment, refinancing,
         reorganization or other amendment of all or a material
         part of the Houlihan Lokey Group's obligations under the
         Group's third party debt obligations including any
         agreement or transaction through which the requisite
         consents or waivers for any such matter are obtained
         through any formal insolvency or other procedure;

     (c) one or more tender, exchange or other offers relating to
         all or a substantial part of the Financial Indebtedness,
         whether under any applicable securities laws or
         regulations or otherwise, or any cash tender offer or any
         combination thereof; and

     (d) a refinancing by means of one or more transactions of all
         or a substantial part of the Financial Indebtedness or
         other material financing or recapitalization of one or
         more members of the Group from any source including, but
         not limited to, the raising of debt, equity or hybrid
         finance.

Houlihan Lokey will be paid:

     (a) a monthly retainer of ?150,000  per month.  Sixty-six and
         2/3 per cent of all monthly fees timely paid to Houlihan
         Will be deductible against any Transaction Fee, 16 2/3
         per cent against any Success Fee and 16 2/3 per cent
         against any Discretionary Fee;

     (b) Upon the completion of any Transaction, a fee of
         EUR4,000,000 in cash;

     (c) Upon the completion of any Transaction and subject to the
         conditions set forth in the Engagement Letter, an
         additional fee of EUR1,000,000 in cash;

     (d) Upon the completion of any Transaction (or confirmation
         thereof, if earlier), Truvo Belgium may elect in its sole
         discretion that the Company will pay Houlihan a
         discretionary amount of EUR1,000,000 in cash based on a
         variety of discretionary factors; and

     (e) The aggregate of the fees described above will not exceed
         EUR6,000,000.

Saul E. Burian, a managing director of Houlihan Lokey, assures the
Court that the firm is a "disinterested person" as that term is
defined in Section 101(14) 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).  Sean A. O'Neal, Esq.,
and Thomas J. Moloney, Esq., at Cleary Gottlieb Steen & Hamilton,
LLP, and Vincent Edward Lazar, Esq., at Jenner & Block LLP, assist
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.


TRUVO USA: Court Sets Disclosure Statement Hearing for August 5
---------------------------------------------------------------
The Hon. Arthur J. Gonzalez of the U.S. Bankruptcy Court for the
Southern District of New York has set for August 5, 2010, at
10:00 a.m. the hearing to consider the adequacy of the disclosure
statement explaining Truvo USA LLC, et al.'s proposed Chapter 11
plan.

The Debtors had asked the Court to hold the hearing on August 6.

The terms of the Plan was negotiated with creditors prepetition.
After months of intense discussions and negotiations, the Debtors
and Senior Lenders holding more than 66 2/3% in value of the
Senior Loans reached an agreement on the principal terms of the
Plan.  This agreement is embodied in a Plan Support Agreement that
was executed by the Debtors, certain of their Operating
Subsidiaries, the Supporting Senior Lenders, the Senior Agent and
the Security Agent.  Among other things, the Plan Support
Agreement describes in detail the key terms of the Plan, as well
as the key terms of a new debt facility, shareholders' agreement,
and governance rights relating to the reorganized Truvo Group.
The parties' obligations under the Plan Support Agreement are
subject to the approval of the Disclosure Statement and other
conditions.

As required by the Plan Support Agreement, the Debtors intend to
file the Plan and the Disclosure Statement With Respect to
Debtors' Joint Plan Of Reorganization (the Disclosure Statement)
on or before July 14, 2010.  Concurrently with the filing of the
Disclosure Statement or shortly thereafter, the Debtors will file
a motion seeking approval of the Disclosure Statement.

The Plan Support Agreement contemplates that the Chapter 11 Cases
will be resolved expeditiously, and imposes deadlines within which
the Debtors must reach certain milestones.  If these deadlines are
not satisfied, the Supporting Senior Lenders may terminate the
Plan Support Agreement.

In the event that the Disclosure Statement is not filed on or
prior to July 14, 2010, the Debtors will seek adjournment of
the Disclosure Statement to a later date.

                        About Truvo USA LLC

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).  Sean A. O'Neal, Esq.,
and Thomas J. Moloney, Esq., at Cleary Gottlieb Steen & Hamilton,
LLP, and Vincent Edward Lazar, Esq., at Jenner & Block LLP, assist
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.


UNIVERSITY SHOPPES: Confirmation Competing Plans Set for August 12
------------------------------------------------------------------
Secured creditor, Bank of America, N.A., filed with the U.S.
Bankruptcy Court for the Southern District of Florida an amended
Chapter 11 Plan for University Shoppes, LLC.

BofA is successor by merger to LaSalle Bank, N.A., as trustee for
the registered holders of JP Morgan Chase Commercial Mortgage
Securities Corp. 2006-LDP8, Commercial Mortgage Pass-Through
Certificates, Series 2006-LDP8.

The Debtor also proposed its own Plan of Reorganization.

BofA related that on a June 7 hearing, the Court approved the
Disclosure Statements, subject to certain required changes to be
made by each party.  The Court also scheduled a confirmation
hearing for August 12.

BOfA's Plan provides that the shopping plaza, known as University
Shoppes or University Center will be sold to the highest and best
qualified bidder at an auction sale supervised by the Bankruptcy
Court.  Subject to Court approval, Summit Hotel Bondi Beach Pty.
Ltd., will be the stalking horse bidder.

The Debtor's Plan provides for the Debtor to retain title to the
center and to modify the existing mortgage loan in a manner that
is not acceptable to BofA.

BofA's Plan provides for the distribution of the proceeds of the
sale to BofA, except for the $50,000 to be paid to the Plan
Trustee for litigation and administrative expenses, an additional
$50,000 to be paid to the Plan Trustee for distribution to
unsecured creditors, amounts required to be paid to certain
holders of priority claims and certain administrative expenses.

These amounts will be paid from the proceeds of the sale or, if
BofA acquires the property by credit bid, BofA will pay these
expenses directly from its own funds.

Unsecured creditors holding allowed unsecured claims will also
receive, on a pro rata basis, any litigation recoveries obtained
by the Plan Trustee, after payment of the Plan Trustee's and his
professionals' fees and expenses approved by the Bankruptcy Court.

A full-text copy of the amended BofA Plan is available for free at
http://bankrupt.com/misc/UniversityShoppes_AmendedDS.pdf

                   About University Shoppes, LLC

Miami Lakes, Florida-based University Shoppes, LLC, has filed for
Chapter 11 bankruptcy protection on November 19, 2009 (Bankr. S.D.
Fla. Case No. 09-35544).  Paul DeCailly, Esq., who has an office
in Tampa, Florida, assists the Company in its restructuring
effort.  The Debtor did not file a list of its 20 largest
unsecured creditors when it filed its petition.  The Company
listed $10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


U.S. AEROSPACE: Corrects Series Preferred Stock to 500 Shares
-------------------------------------------------------------
U.S. Aerospace Inc. said that its current report on Form 8-K dated
July 1, 2010, and filed July 2, 2010, erroneously stated that each
share of its Series E Convertible Preferred Stock is convertible
into 100 shares of its common stock, rather than 500 shares which
is correct.

On July 1, 2010, the company entered into an Agreement and Plan of
Merger, pursuant to which we agreed to issue to American Defense
Investments, LLC 255,862 shares and TUSA Acquisition Corporation
127,931 shares, for an aggregate of 383,793 shares of Series E
Convertible Preferred Stock.

                    About U.S. Aerospace, Inc.

U.S. Aerospace, Inc. -- http://www.USAerospace.com-- is a
publicly traded aerospace and defense contractor based in Southern
California.  The Company supplies aircraft assemblies, structural
components and highly-engineered, precision-machined details for
commercial and military aircraft.

                           *     *     *

The Company's balance sheet at March 31, 2010, showed $6.0 million
in total assets and $11.5 million in total liabilities, for a
stockholders' deficit of $5.4 million.


VANGUARD HEALTH: S&P Raises Rating on $815 Mil. Loan to 'BB-'
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it raised its issue-
level ratings on Nashville, Tenn.-based Vanguard Health Holding
Co. II LLC's (a subsidiary of Vanguard Health Systems Inc.)
$815 million senior secured term loan maturing in 2016 and its
$260 million revolving credit facility maturing in 2015.  S&P
raised the issue ratings to 'BB-' (two notches higher than the
corporate credit rating) from 'B+'.   The recovery rating on these
debt issues is revised to '1' from '2', which indicates S&P's
expectation for very high (90% to 100%) recovery in the event of
payment default.

In addition, S&P raised the rating on the company's $1.175 billion
senior unsecured notes, including the $225 million add-on, to 'B-'
from 'CCC+'.  The recovery rating on the debt is revised to '5'
from '6', which indicates S&P's expectation for modest (10% to
30%) recovery in the event of payment default.

At the same time, S&P affirmed the 'B' corporate credit rating on
Vanguard.  The outlook is stable.

"The issue-level ratings were raised because 0ur estimate of the
value of the company in a default scenario, including the
acquisition of the Detroit Medical Center, has improved," said
Standard & Poor's credit analyst David Peknay.  The speculative-
grade ratings on Vanguard reflect its relatively undiversified
portfolio of hospitals and its highly leveraged financial profile.
The pending addition of the eight-hospital Detroit Medical Center
would add another major market to San Antonio and Phoenix, which
now account for the majority of the company's cash flow.  However,
the acquisition, which would expand the revenue base from the
current 15-facility hospital portfolio by about 60%, will be
challenging.  DMC is a large urban hospital system with very low
operating margins and a payor mix that includes Medicaid as a
large revenue source.  It also has substantial capital investment
needs that will constrain cash flow for several years.  The
Detroit market will instantly become Vanguard's largest market
based on revenue, generating an estimated 35% of the combined
total.  The next largest market will be Arizona, which S&P
estimate will generate about 25% of the company's total revenues.
The ratings also reflect the competitive nature of these markets,
the company's vulnerability to local economic circumstances, and
the reimbursement risk tied to ongoing third-party payor efforts
to limit health care cost increases.

Vanguard has a history of making infrequent but sizeable
acquisitions and investing significant sums to improve facilities,
bolster the services its hospitals provide, and help it maintain
or increase its operating margin.  The company has maintained
margins in the 10% to 11% range for the past several years,
despite chronic reimbursement pressure.  During this time, the
company has been able to generate enough cash to fund most of its
capital needs while increasing its lease-adjusted EBITDA by 22%
between 2005 and 2009.  The acquisition of DMC is consistent with
this capital-intensive strategy as it includes a commitment of
$70 million per year for routine maintenance and $500 million
total for certain capital projects over the next five years.

Vanguard remains vulnerable to changes in reimbursement during
this extended period of economic weakness.  Although any
significant impact from health reform is several years away, in
S&P's opinion, government constraints on strained Medicare and
Medicaid budgets are an important issue.  Given the tenure of
Blackstone's 2004 investment, it is possible that a change of
control with either an IPO or sale of the company to a new owner
may precede the implementation of any significant health reform
efforts.

The stable rating outlook reflects S&P's expectation that
Vanguard's credit profile will remain consistent with the ratings
in the absence of a deleveraging event.  Meaningful profitable
diversification that produces a higher level of profitability is
not an early prospect.  S&P would consider raising the ratings if
there were an equity infusion, possibly through an IPO that would
suggest sustained lease-adjusted debt to EBITDA of less than 4x.
On the other hand, S&P could lower the ratings if business
pressures related to reimbursement, bad debt, and labor expenses
grow in Vanguard's key markets, leading to its investments not
reaping the expected benefits.  A lack of post-DMC acquisition
revenue growth and a decline in lease-adjusted EBITDA margin to
about 7% could create liquidity pressure leading to a lower
rating.


VISTEON CORP: Shareholders Want to File Rival Chapter 11 Plan
-------------------------------------------------------------
Bankruptcy Law360 reports that Visteon Corp.'s equity holders are
lobbying the bankruptcy court for permission to file a Chapter 11
plan to rival the "unconfirmable" reorganization proposed by the
struggling auto parts maker.

Law360 says the ad hoc committee of equity holders on Thursday
urged Judge Christopher S. Sontchi of the U.S. Bankruptcy Court
for the District of Delaware to terminate Visteon's exclusivity.
About Visteon Corp.

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is a global automotive
supplier that designs, engineers and manufactures innovative
climate, interior, electronic and lighting products for vehicle
manufacturers, and also provides a range of products and services
to aftermarket customers.  The Company has corporate offices in
Van Buren Township, Michigan (U.S.); Shanghai, China; and Kerpen,
Germany.  It has facilities in 27 countries and employs roughly
35,500 people.  The Company has assets of US$4,561,000,000 and
debts of US$5,311,000,000 as of March 31, 2009.

Visteon Corporation and 30 of its affiliates filed for Chapter 11
protection on May 28, 2009, (Bank. D. Del. Case No. 09-11786
through 09-11818).  Judge Christopher S. Sontchi oversees the
Chapter 11 cases.  James H.M. Sprayregen, Esq., Marc Kieselstein,
Esq., and James J. Mazza, Jr., Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, represent the Debtors in their restructuring
efforts.  Laura Davis Jones, Esq., James E. O'Neill, Esq., Timothy
P. Cairns, Esq., and Mark M. Billion, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, serve as the Debtors'
local counsel.  The Debtors' investment banker and financial
advisor is Rothschild Inc.  The Debtors' notice, claims, and
solicitation agent is Kurtzman Carson Consultants LLC.  The
Debtors' restructuring advisor is Alvarez & Marsal North America,
LLC.

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


VYTERIS INC: Consummates Private Placement of $.1 Million of Notes
------------------------------------------------------------------
Vyteris Inc. consummated a private placement to accredited
investors of $1,150,000 principal amount of 6% Subordinated
Convertible Promissory Notes due September 30, 2010.

The sale of the Notes also included issuance to Investors of five-
year warrants to purchase an aggregate of 2,300,000 shares of the
Company's common stock with an exercise price of $0.25 per share.
Spencer Trask Ventures, Inc., acted as placement agent in
connection with the private placement.

The Notes bear interest at the rate of 6% per annum and are
convertible into common stock of the Registrant at the option of
the Investors upon the same terms and conditions of securities
offered to investors in the next subsequent equity securities
financing of the Registrant.

In connection with the final closing, the Registrant received net
proceeds of $1,150,000, and all fees to the placement agent have
been deferred until the conversion of Notes at the Next Offering
at which time the placement agent shall receive fees as if the
Investors had purchased securities in the Next Offering for cash.

This private placement transaction to accredited investors is
exempt from registration under the Securities Act of 1933, as
amended, pursuant to Section 4(2) thereof and Regulation D,
promulgated thereunder.

Based in Fair Lawn, New Jersey, Vyteris, Inc. (formerly Vyteris
Holdings (Nevada), Inc., has developed and produced the first FDA-
approved electronically controlled transdermal drug delivery
system that transports drugs through the skin comfortably, without
needles.  This platform technology can be used to administer a
wide variety of therapeutics either directly into the skin or into
the bloodstream.  The Company holds approximately 50 U.S. and 70
foreign patents relating to the delivery of drugs across the skin
using an electronically controlled "smart patch" device with
electric current.

At March 31, 2010, the Company had total assets of $3,551,507
against total liabilities of $13,033,654, resulting in
stockholders' deficit of $9,482,147.  The March 31, 2010 balance
sheet showed strained liquidity: The Company had total current
assets of $1,816,956 against total current liabilities of
$9,984,423.


WASHINGTON MUTUAL: Delays Hearing on Disc. Statement, Examiner
--------------------------------------------------------------
Washington Mutual Inc. put off until July 20 a bankruptcy court
hearing on its disclosure statement and a request by shareholders
for the appointment of an examiner, the Associated Press reported.
The AP related that Judge Mary Walrath agreed to postpone the
hearing scheduled for yesterday after WaMu attorney Brian Rosen
said the company needed more time to negotiate with shareholders
and creditors.

According to The AP, WaMu has proposed splitting almost $10
billion in cash and tax refunds with JPMorgan Chase & Co. and the
Federal Deposit Insurance Corp. in exchange for agreeing not to
sue them.  The settlement is the cornerstone of WaMu's proposal to
liquidate most of its assets and distribute the proceeds to
creditors. Shareholders would get nothing under the proposal.

Shareholders, The AP recounts, requested a court-sponsored
investigation of WaMu's decision not to sue federal regulators and
JPMorgan over the bank failure and WaMu's assets.  Judge Walrath
denied the request in June, ruling that WaMu and its official
committee of unsecured creditors should share the results of their
investigations.

                      About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The Company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over September 25 by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  Wamu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment listed assets of $500,000,000
to $1,000,000,000 with zero debts.

Peter Calamari, Esq., and David Elsberg, Esq., at Quinn Emanuel
Urquhart Oliver & Hedges, LLP, served as legal counsel to WMI with
responsibility for the litigation.  Brian Rosen, Esq., at Weil,
Gotshal & Manges LLP served as legal counsel to WMI with
responsibility for the Chapter 11 case.

Bankruptcy Creditors' Service Inc. publishes Washington Mutual
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Washington Mutual Inc. (http://bankrupt.com/newsstand/or
215/945-7000).


WEST CORP: Bank Debt Trades at 5% Off in Secondary Market
---------------------------------------------------------
Participations in a syndicated loan under which West Corporation
is a borrower traded in the secondary market at 94.67 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 0.52 percentage
points from the previous week, The Journal relates.  The Company
pays 387 basis points above LIBOR to borrow under the facility,
which matures on July 1, 2016.  The bank debt carries Moody's B1
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.

Founded in 1986 and headquartered in Omaha, Nebraska, West
Corporation -- http://www.west.com/-- provides outsourced
communication solutions to many of the world's largest companies,
organizations and government agencies.  West Corporation has a
team of 41,000 employees based in North America, Europe and Asia.


WRIGHT GROUP: Case Summary & 10 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: The Wright Group, Inc.
        aka Zao Island
        1050 Horseprairie Avenue
        Valparaiso, IN 46385

Bankruptcy Case No.: 10-23187

Chapter 11 Petition Date: July 8, 2010

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

Judge: J. Philip Klingeberger

Debtor's Counsel: Daniel Freeland, Esq.
                  9105 Indianapolis Boulevard
                  Highland, IN 46322
                  Tel: (219) 922-0800
                  E-mail: dlf9601b@aol.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 10 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/innb10-23187.pdf

The petition was signed by Donald T. Wright, president.


XAVIER K: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Xavier K LLC
        dba General Floorcraft
        4 Heights Terrace
        Little Silver, NJ 07739

Bankruptcy Case No.: 10-30835

Chapter 11 Petition Date: July 7, 2010

Court: United States Bankruptcy Court
       District of New Jersey (Newark)

Debtor's Counsel: Eric R. Perkins, Esq.
                  McElroy, Deutsch, Mulvaney & Carpenter
                  40 West Ridgewood Ave
                  Ridgewood, NJ 07450
                  Tel: (201) 445-6722
                  Fax: (201) 445-5376
                  E-mail: eperkins@mdmc-law.com

Scheduled Assets: $162,941

Scheduled Debts: $4,089,423

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/njb10-30835.pdf

The petition was signed by Francis J. Kane, president.


YRC WORLDWIDE: Accounting Head Liljegren Discloses Equity Stake
---------------------------------------------------------------
Paul F. Liljegren, VP-IR, Controller and CAO of YRC Worldwide
Inc., disclosed with the Securities and Exchange Commission that
he holds options to acquire:

     -- 1,850 shares of common stock.  The option was granted on
        January 2, 2009, and approved by shareolders on May 14,
        2009.  The option vests in four equal annual installments.
        The first installment became exercisable on January 2,
        2010, and the last three installments become exercisable
        on January 2, 2011, January 2, 2012 and January 2, 2013.

     -- 1,625 shares of common stock.  The option was granted on
        May 15, 2008, and vests in three equal annual
        installments.  The first two installments became
        exercisable on January 1, 2009 and January 1, 2010 and the
        third installment becomes exercisable on January 1, 2011.

He directly holds those options.

Mr. Liljegren also disclosed that he indirectly holds 3,618 shares
of common stock -- which represents 2,190 shares of common stock
and 1,428 restricted share units, which were granted on February
20, 2008 and vest on the third anniversary of the date of grant,
subject to certain other conditions.  Mr. Liljegren will receive
one share of YRC common stock upon vesting of each restricted
share unit.

Mr. Liljegren also disclosed that he indirectly holds 603.5333
shares of common stock, which reflects the number of shares held
in his 401(k) account as of June 30, 2010.

Separately, YRC director Teresa Ghilarducci filed a Form 3 with
the SEC that she doesn't hold any YRC securities.

                        About YRC Worldwide

Headquartered in Overland Park, Kan., YRC Worldwide Inc. (NASDAQ:
YRCW) -- http://www.yrcw.com/-- is a holding company that through
wholly owned operating subsidiaries offers its customers a wide
range of transportation services.  These services include global,
national and regional transportation as well as logistics.

The Company's balance sheet as of March 31, 2010, showed
$2.919 billion in assets and $3.024 billion of liabilities, for a
stockholders' deficit of $104.9 million.

                          *     *     *

As reported in the Troubled Company Reporter on March 18, 2010,
KPMG LLP, in Kansas City, Missouri, expressed substantial doubt
about YRC Worldwide's ability to continue as a going concern in
its report on the Company's consolidated financial statements as
of and for the year ended December 31, 2009.  The independent
auditors noted that the Company has experienced significant
declines in operations, cash flows, and liquidity.


* S&P List of Global Corporate Total Now at 44 This Year
--------------------------------------------------------
Two U.S.-based retailers missed payments on their debt instruments
last week.  This brings the year-to-date 2010 tally of global
corporate defaults to 44, said an article published July 9 by
Standard & Poor's, titled "Global Corporate Default Update
(July 2 - 8, 2010) (Premium)."

By region, the current year-to-date default tallies are 32 in the
U.S., two in Europe, four in the emerging markets, and six in the
other developed region (Australia, Canada, Japan, and New
Zealand).

So far this year, distressed exchanges account for 14 defaults,
missed interest or principal payments are responsible for 13,
Chapter 11 filings account for 11, regulatory directives and
receiverships account for one each, and the remaining four
defaulted issuers are confidential.  Of the global corporate
defaulters in 2010, 41% of issues with available recovery ratings
had recovery ratings of '6' (indicating our expectation for
negligible recovery of 0%-10%), 13% of the issues had recovery
ratings of '5' (modest recovery prospects of 10%-30%), 8% had
recovery ratings of '4' (average recovery prospects of 30%-50%),
and 21% had recovery ratings of '3' (meaningful recovery prospects
of 50%-70%). And for the remaining two rating categories, 15% of
the issues had recovery ratings of '2' (substantial recovery
prospects of 70%-90%) and 3% had recovery ratings of '1' (very
high recovery prospects of 90%-100%).


* Default Rate Slows to 6.1% at End of Q2, Moody's Reports
----------------------------------------------------------
The global speculative-grade default rate continued its downward
path in the second quarter of 2010, sliding to 6.1% from a level
of 10.0% in the previous quarter, said Moody's Investors Service
in its latest monthly default report.  A year ago, the global
default rate stood at 11.1%, Moody's default rate forecasting
model now predicts that the global speculative-grade default rate
will fall to 2.4% by the end of this year before declining to 1.8%
by the second quarter of 2011.

"Given the indicators in the market, we expect the decline in
default rates to continue through the end of this year. However,
uncertainty is elevated as Europe continues to address sovereign
debt issues that could impact the debt market," said Albert Metz,
Moody's Director of Credit Policy Research.

In the U.S., the speculative-grade default rate ended the second
quarter at 6.3%, down from 11.0% in the previous quarter. At this
time last year, the U.S. default rate stood at 12.1%.

The dollar-weighted speculative-grade bond default rate in the
U.S. ended the second quarter at 3.0%, while the European dollar-
weighted speculative-grade bond default rate fell from 5.8% in the
first quarter to 3.4% in the second quarter of 2010.  The
comparable rate for the U.S. was 11.3% in the prior quarter and
the U.S. and European speculative-grade bond default rate stood at
18.4% and 7.8%, respectively.

Among U.S. speculative-grade issuers, Moody's forecasting model
foresees the default rate falling to 2.7% by the end of the year.
In Europe, the forecasting model projects the speculative-grade
default rate will decline to 1.4%.

A total of 26 Moody's-rated corporate debt issuers have defaulted
so far this year, of which nine were recorded in the second
quarter.  In comparison, there were 90 and 85 defaults in the
first and second quarter of last year, respectively.  Seven out of
the second quarter's defaults were by North American issuers.  The
remaining defaulters came from Europe and South America.

Across industries over the coming year, default rates are expected
to be highest in the Business Service sector in the U.S. and the
Durable Consumer Goods sector in Europe.

Measured on a dollar volume basis, the global speculative-grade
bond default rate closed at 3.1% in the second quarter, down
noticeably from the 10.3% level from the previous quarter.  Last
year, the global dollar-weighted default rate was even higher at
17.1%.  "The reduction in the dollar-weighted bond default rate is
primarily due to a number of large defaulters moving out of the
trailing twelve-month window such as General Motor Corporation and
Ford Motor Company," Metz said.

Moody's speculative-grade corporate distress index -- which
measures the percentage of rated issuers that have debt trading at
distressed levels -- came in at 17.1% at the end of the second
quarter, unchanged from the level in the previous quarter. A year
ago, the index was much higher at 40.4%.

In the leveraged loan market, a total of four Moody's-rated loan
defaulters were recorded in the second quarter, lifting the year-
to-date loan default count to 15.  All of the second quarter's
loan defaulters were U.S. issuers.  In comparison, 45 loan issuers
defaulted in the second quarter of last year, 40 of which were
from the U.S.  The trailing 12 month U.S. leveraged loan default
rate ended the second quarter of 2010 at 6.1%, down from 10.4% in
the previous quarter and 9.1% from a year ago.

Moody's "June Default Report" is now available -- as are Moody's
other default research reports -- in the Ratings Analytics section
of Moodys.com.


* Maryland, New York, Oklahoma Banks Shuttered as Failures Hit 90
-----------------------------------------------------------------
On July 9, regulators shut four banks with $1.13 billion in
combined assets, sending the number of U.S. failures to 90 so far
this year.

The Federal Deposit Insurance Corp. was appointed receiver of Bay
National Bank and Ideal Federal Savings Bank, both based in
Baltimore.  Bay National Bank had $282.2 million in assets and
$276.1 million in deposits as of March 31.  Ideal Federal Savings
Bank had $6.3 million in assets and $5.8 million in deposits.  The
FDIC also took over Home National Bank in Blackwell, Okla., with
$644.5 million in assets and $560.7 million in deposits, and USA
Bank Port Chester, N.Y., with $193.3 million in assets and $189.9
million in deposits.

The FDIC was unable to find another financial institution to take
over the banking operations of Ideal Federal Savings Bank.  The
FDIC was able to find financial institutions who agreed to take
over the deposits of the three other banks.

"The remaining shakeout will be geographically concentrated and
much more restricted to smaller institutions," said Steve Reider,
president of Bancography, a consulting firm based in Birmingham,
Alabama, according to Bloomberg.  "I continue to think that
geography is destiny."

In accordance with Federal law, allowed claims against failed
financial institutions will be paid, after administrative
expenses, in this order of priority:

    1. Depositors
    2. General Unsecured Creditors
    3. Subordinated Debt
    4. Stockholders

                   2010 Failed Banks List

The FDIC was appointed as receiver for the closed banks.  To
protect the depositors, the FDIC entered into a purchase and
assumption agreement with various banks that agreed to assume the
deposits of most of the closed banks.  The FDIC also entered into
loss-share transactions on assets bought by the banks.

For this year, the failed banks are:

                              Loss-Share
                              Transaction Party     FDIC Cost
                 Assets of    Bank That Assumed   to Insurance
                 Closed Bank  Deposits & Bought      Fund
Closed Bank       (millions)   Certain Assets       (millions)
-----------       ----------   --------------      -----------
USA Bank, Port Chester  $193.3    New Century Bank         $61.7
Bay National Bank       $282.2    Bay Bank, FSB            $17.4
Ideal Federal Savings     $6.3    -- None --                $2.1
Home National Bank      $644.5    RCB Bank, Claremore      $78.7
First National          $252.5    The Savannah Bank        $68.9
High Desert              $80.3    First American           $20.9
Peninsula Bank          $644.3    Premier American        $194.8
Nevada Security Bank    $480.3    Umpqua Bank              $80.9
Washington First        $520.9    East West Bank          $158.4
TierOne Bank          $2,800.0    Great Western Bank      $297.8
Arcola Homestead         $17.0    -- None --                $3.2
First National Bank      $60.4    Jefferson Bank           $12.6
Sun West Bank           $360.7    City National Bank       $96.7
Granite Community       $102.9    Tri Counties Bank        $17.3
Bank of Fla- Southeast  $595.3    EverBank                 $71.4
Bank of Fla- Southwest  $559.9    EverBank                 $91.3
Bank of Fla- Tampa Bay  $245.2    EverBank                 $40.3
Pinehurst Bank           $61.2    Coulee Bank               $6.0
Southwest Community      $96.6    Simmons First Nat'l      $29.0
New Liberty Bank        $109.1    Bank of Ann Arbor        $25.0
Satilla Community Bank  $135.7    Ameris Bank              $31.3
Midwest Bank & Trust  $3,170.0    Firstmerit Bank         $216.4
1st Pacific Bank        $335.8    City National Bank       $87.7
Access Bank              $32.0    PrinsBank, Prinsburg      $5.5
Towne Bank of Ariz      $120.2    Commerce Bank            $41.8
The Bank of Bonifay     $242.9    First Federal Bank       $78.7
Frontier Bank         $3,500.0    Union Bank, NA        $1,370.0
BC National Banks        $67.2    Community First          $11.4
Champion Bank           $187.3    BankLiberty              $52.7
CF Bancorp            $1,650.0    First Michigan Bank     $615.3
Westernbank PR       $11,940.0    Banco Popular de PR   $3,310.0
R-G Premier Bank      $5,920.0    Scotiabank de PR      $1,230.0
Eurobank, SJ, PR      $2,560.0    Oriental Bank & Trust   $743.9
Lincoln Park Savings    $199.9    Northbrook Bank          $48.4
Peotone Bank            $130.2    First Midwest            $31.7
Wheatland Bank          $437.2    Wheaton Bank            $133.0
New Century Bank        $485.6    MB Financial            $125.3
Citizens Bank&Trust      $77.3    Republic Bank            $20.9
Broadway Bank         $1,200.0    MB Financial            $394.3
Amcore Bank           $3,800.0    Harris                  $220.3
Lakeside Community       $53.0    People's United          $11.2
Innovative Bank         $268.9    Center Bank              $37.8
City Bank             $1,130.0    Whidbey Island          $323.4
Butler Bank             $233.2    People's United          $22.9
AmericanFirst Bank       $90.5    TD Bank, N.A.            $10.5
First Federal           $393.3    TD Bank, N.A.             $6.0
Riverside National    $3,420.0    TD Bank, N.A.           $491.8
Tamalpais Bank          $628.9    Union Bank, N.A.         $81.1
Beach First National    $585.1    Bank of NC              $130.3
McIntosh Commercial     $362.9    CharterBank, West Point $123.3
Desert Hills Bank       $496.6    New York Community Bank $106.7
Unity National Bank     $292.2    Bank of the Ozarks       $67.2
Key West Bank            $88.0    Centennial Bank          $23.1
State Bank of Aurora     $28.2    Northern State Bank       $4.2
First Lowndes Bank      $137.2    First Citizens Bank      $38.3
Bank of Hiawassee       $377.8    Citizens South Bank     $137.7
Appalachian Community $1,010.0    Community & Southern    $419.3
Advanta Bank Corp.    $1,600.0    - None -                $635.6
Century Security         $96.5    Bank of Upson            $29.9
American National        $70.3    National Bank and Trust  $17.1
The Park Avenue Bank    $520.1    Valley National Bank     $50.7
Statewide Bank          $243.2    Home Bank, Lafayette     $38.1
Old Southern Bank       $315.6    Centennial Bank          $94.6
LibertyPointe Bank      $209.7    Valley National          $24.8
Sun American Bank       $535.7    First-Citizens Bank     $103.8
Waterfield Bank         $155.6    {FDIC Created}           $51.0
Centennial Bank         $215.2    Zions Bank               $96.3
Bank of Illinois        $211.7    Heartland Bank           $53.7
Rainier Pacific Bank    $446.2    Umpqua Bank, Roseburg    $95.2
Carson River Community   $51.1    Heritage Bank of Nevada   $7.9
George Washington       $412.8    FirstMerit Bank         $141.4
La Jolla Bank         $3,600.0    OneWest Bank, FSB       $882.3
The La Coste Nat'l       $53.9    Community National        $3.7
Marco Community Bank    $119.6    Omaha Bank               $38.1
1st American State       $18.2    Community Development     $3.1
First National Bank     $832.6    Community & Southern    $260.4
Florida Community       $875.5    Premier American Bank   $352.6
American Marine Bank    $373.2    Columbia State Bank      $58.9
Marshall Bank, N.A.      $59.9    United Valley Bank        $4.1
First Regional Bank   $2,180.0    First-Citizens Bank     $825.5
Comm. Bank & Trust    $1,210.0    SCBT, N.A.              $354.5
Charter Bank          $1,200.0    Charter, Albuquerque    $201.9
Evergreen Bank          $488.5    Umpqua Bank, Roseburg    $64.2
Columbia River Bank   $1,100.0    Columbia State Bank     $172.5
Bank of Leeton           $20.1    Sunflower Bank            $8.1
Premier American Bank   $350.9    Bond Street subsidiary   $85.0
Town Community           $69.6    Bank First American      $17.8
St. Stephen State        $24.7    First State Bank          $7.2
Barnes Banking          $827.8    {DINB Created}          $271.3
Horizon Bank          $1,400.0    Washington Federal      $539.1

In 2009, there were 140 failed banks, compared with just 25 for
2008.

A complete list of banks that failed since 2000 is available at:

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

              775 Banks Now in FDIC's Problem List

The number of institutions on the Federal Deposit Insurance
Corp.'s "Problem List" rose to 775, up from 702 at the end of
2009. In addition, the total assets of "problem" institutions
increased during the quarter from $403 billion to $431 billion.
These levels are the highest since June 30, 1993, when the number
and assets of "problem" institutions totaled 793 and $467 billion,
respectively, but the increase in the number of problem banks was
the smallest in four quarters.

"Problem" institutions are those institutions with financial,
operational, or managerial weaknesses that threaten their
continued financial viability.  They are rated by the FDIC or
Office of the Thrift Supervision as either a "4" or "5", based on
a scale of 1 to 5 in ascending order of supervisory concern.
The Problem List is not divulged to the public.  No advance notice
is given to the public when a financial institution is closed.

The FDIC says that 41 institutions failed during the first
quarter.  Chairman Bair noted that the vast majority of "problem"
institutions do not fail.

According to the FDIC, its Deposit Insurance Fund (DIF) balance
improved for the first time in two years.  The DIF balance -- the
net worth of the fund -- increased slightly to negative $20.7
billion, from negative $20.9 billion (unaudited) on December 31,
2009.  The fund balance reflects a $40.7 billion contingent loss
reserve that has been set aside to cover estimated losses.  Just
as banks reserve for loan losses, the FDIC has to set aside
reserves for anticipated closings.  Combining the fund balance
with this contingent loss reserve shows total DIF reserves of
$20 billion.  Total insured deposits increased by 1.3%
($70.0 billion) during the first quarter.

The FDIC's liquid resources - cash and marketable securities -
remained strong.  Liquid resources stood at $63 billion at the end
of the first quarter, a decline from $66 billion at year-end 2009.
To provide the funds needed to resolve failed institutions in 2010
and beyond without immediately reducing the industry's earnings
and capital, the FDIC Board approved a measure on November 12,
2009, that required most insured institutions to prepay
approximately three years' worth of deposit insurance premiums -
about $46 billion - at the end of 2009.

              Problem Institutions      Failed Institutions
              --------------------      -------------------
Year           Number  Assets (Mil)      Number  Assets (Mil)
----           ------  ------------      ------  ------------
2009              702      $402,800         140       $169,700
2008              252      $159,405          25       $371,945
2007               76       $22,189           3         $2,615
2006               50        $8,265           0             $0
2005               52        $6,607           0             $0
2004               80       $28,250           4           $170

A copy of the FDIC's Quarterly Banking Profile for the quarter
ended March 31, 2010, is available for free at:

     http://bankrupt.com/misc/FDIC_QBP_Q1_10.pdf


* State Budget Woes 'Just as Tough' in 2011, Fed Economist Says
---------------------------------------------------------------
Tepid economic growth and demands for aid from ailing U.S. cities
and towns will combine to make next year "just as tough" for state
budget makers, says Yolanda Kodrzycki, an economist at the Federal
Reserve Bank of Boston, according to a report by Bloomberg News.

States have closed budget deficits totaling about $169 billion
since July 2008 and still face a combined $127 billion gap through
fiscal 2012, Bloomberg said, citing a a report last month by the
National Governors Association and the National Association of
State Budget Officers.

Fiscal recovery will be weighed down by "lackluster" economic
growth of about 3 percent a year and the need to help local
governments confronting falling property tax collections,
Ms. Kodrzycki told governors gathered last week in Boston,
according to Bloomberg.  "Next year is going to be just as tough"
for balancing state budgets, Ms. Kodrzycki said on a panel on
economic development at the National Governors Association
meeting.


* Florida Banks Ask Regulators to Ease Requirements
---------------------------------------------------
The Florida Bankers Association is asking the Federal Reserve, the
Federal Deposit Insurance Corporation, the Office of Thrift
Supervision and the Office of the Comptroller of the Currency to
institute an immediate 12-month suspension on higher capital
requirements for Florida banks amid the oil spill disaster.

"As the BP Oil Spill disaster heads into Day 81, oil has begun to
wash ashore in Florida.  The equivalent of a long lasting economic
disaster has already struck our state," the letter states.

"Assuming the oil well is capped this summer, oil could continue
to wash ashore and severely injure our tourism economy for an
extended length of time."

The FBA also asks regulators to:

     -- institute an immediate 12-month suspension on the use of
        appraisals for loans.  As the oil spill intensifies, there
        will be no accurate way for an appraisal to accurately
        reflect the true worth of the property over a long-term
        horizon; and

     -- for the next 12 months, minimize the number of orders
        placed on banks such as cease and desist orders on the
        raising of capital that require public disclosure.  As
        more and more orders are released to the public, there is
        a further chilling to capital coming into Florida.

The bankers also held that the collective influence of the
regulators should be used to include banks impacted by the oil
spill crisis in the BP claims process.

A full-text copy of the letter is available at no charge at:

              http://bankrupt.com/misc/letter0712.pdf


* Grant Thornton Aided Flying J's Successful Chapter 11 Exit
------------------------------------------------------------
Flying J, Inc., has emerged from Chapter 11 bankruptcy protection,
with the aid of Grant Thornton LLP, who served as the financial
advisor to the Official Committee of Unsecured Creditors and
Pachulski Stang Ziehl & Jones LLP, who served as counsel to the
Committee.

The Company will repay in full the $1.4 billion owed its
creditors, with the distributions on allowed claims of the
company's creditors expected to commence before the end of July.

Amidst a precipitous drop in oil prices and a challenging economic
environment, Flying J initially filed for Chapter 11 protection on
December 22, 2008.  On July 6, 2010, the Bankruptcy Court
confirmed the Company's Amended Plan of Reorganization, enabling
the Company's emergence from Chapter 11.

During the pendency of the bankruptcy, Grant Thornton assisted the
Committee in ensuring that the Company maintained adequate
liquidity to support operations, execute a successful
reorganization and make a full payment to all creditors.  To
accomplish a full payment to all creditors, the Company had to
complete a number of transactions related to the sale of assets
including, a refinery, pipelines, oil and gas wells and the retail
refined products business.

"We are incredibly pleased with the outcome of this case.  In
particular, payment in full of all secured and unsecured creditors
plus post-petition interest is a major accomplishment.  18 months
of hard work by the Debtors, the Committee, and their respective
professionals paid off as reflected in this outstanding result.
We congratulate everyone who contributed to this effort and wish
Flying J and Pilot Travel Centers every success in the future,"
said Rob Feinstein, New York-based managing partner at Pachulski
Stang Ziehl & Jones LLP.

"After a year and half of hard work, this is a great outcome for
our clients and the unsecured creditors.  The Committee counsel
and financial advisor have worked very hard to ensure this
positive result, despite looming uncertainty just six month ago,"
said Loretta Cross, Houston-based managing partner at Grant
Thornton LLP.  "Participating in the restructuring of Flying J on
behalf of the Official Committee of Unsecured Creditors was a
challenging project with a positive conclusion.  The unsecured
creditors will recover 100% of their allowed claims, plus
interest, and the Company is poised to focus on its refinery and
financial services operations going forward for sustainable
growth."

Grant Thornton's Energy Advisory Team has been active in several
successful restructurings in 2010, including Saratoga Resources,
Inc., an independent exploration and production company with
offices in Houston, Texas, and Covington, Louisiana, and TXCO
Resources, an independent oil and gas enterprise.  In both of
these cases, the unsecured creditors will also recover 100% of
their allowed claims.

                       About Grant Thornton LLP

Grant Thornton LLP's Corporate Advisory & Restructuring Services
group includes more than 100 professionals in 10 offices in the
U.S.  We also work closely with the Restructuring & Recovery
practices of Grant Thornton International member firms, comprised
of several hundred restructuring professionals internationally.

The group's professionals possess extensive experience with both
bankruptcy and out-of-court restructuring, spanning many
industries, including energy, automotive, gaming and hospitality,
healthcare, manufacturing, real estate and retail.  Our clients
include debtors, lenders, individual creditors and creditor
committees, in addition to officers and directors and the boards
and committees involved with corporate governance.

Our professionals are leaders in providing crisis management and
serving as interim management, including significant roles as
Chief Restructuring Officer and Chief Financial Officer.  We are
highly qualified to serve in these roles as our professionals
possess extensive experience in operational roles, several
spanning decades as Chief Operating Officer, Chief Financial
Officer and executive level positions in publicly-held companies.


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                                                          Total
                                               Total     Share-
                                    Total    Working   Holders'
                                   Assets    Capital     Equity
   Company          Ticker          ($MM)      ($MM)      ($MM)
   -------          ------         ------    -------   --------
AUTOZONE INC        AZO US        5,452.8     (293.1)    (462.0)
LORILLARD INC       LO US         2,902.0      718.0      (37.0)
DUN & BRADSTREET    DNB US        1,699.5     (454.1)    (778.3)
ALLIANCE DATA       ADS US        7,919.8    3,352.2      (53.6)
MEAD JOHNSON        MJN US        1,996.7      319.9     (583.7)
NAVISTAR INTL       NAV US        8,940.0    1,251.0   (1,198.0)
BOARDWALK REAL E    BEI-U CN      2,332.1        -        (57.6)
BOARDWALK REAL E    BOWFF US      2,332.1        -        (57.6)
TAUBMAN CENTERS     TCO US        2,572.3        -       (494.8)
COOPER-STANDARD     COSHE US      1,686.4      433.1     (304.3)
CHOICE HOTELS       CHH US          360.6       (6.3)    (115.0)
LINEAR TECH CORP    LLTC US       1,615.8      742.7      (50.7)
SUN COMMUNITIES     SUI US        1,173.3        -       (118.3)
WEIGHT WATCHERS     WTW US        1,093.0     (408.5)    (700.1)
PETROALGAE INC      PALG US           4.7      (13.9)     (48.0)
CABLEVISION SYS     CVC US        7,364.2       54.8   (6,201.5)
IPCS INC            IPCS US         559.2       72.1      (33.0)
WR GRACE & CO       GRA US        3,957.9    1,177.5     (234.4)
MOODY'S CORP        MCO US        2,003.3     (138.9)    (534.0)
TENNECO INC         TEN US        3,034.0      203.0      (14.0)
UAL CORP            UAUA US      19,952.0   (1,019.0)  (2,887.0)
UNISYS CORP         UIS US        2,711.8      320.6   (1,221.7)
DISH NETWORK-A      DISH US       8,689.0      305.1   (1,850.3)
VENOCO INC          VQ US           799.5       10.6     (127.6)
HEALTHSOUTH CORP    HLS US        1,716.1       90.6     (474.5)
NATIONAL CINEMED    NCMI US         620.4      106.9     (462.7)
VECTOR GROUP LTD    VGR US          743.1      231.5      (13.4)
CHENIERE ENERGY     CQP US        1,883.2       37.6     (491.7)
EXPRESS INC         EXPR US         718.1       38.4      (81.8)
PROTECTION ONE      PONE US         562.9       (7.6)     (61.8)
METALS USA HOLDI    MUSA US         655.4      294.1      (43.0)
DISH NETWORK-A      EOT GR        8,689.0      305.1   (1,850.3)
ARVINMERITOR INC    ARM US        2,769.0      345.0     (877.0)
REGAL ENTERTAI-A    RGC US        2,588.9     (168.9)    (260.7)
THERAVANCE          THRX US         249.9      196.6     (113.0)
JUST ENERGY INCO    JE-U CN       1,353.1     (513.7)    (503.2)
CARDTRONICS INC     CATM US         449.3      (36.6)      (2.3)
TEAM HEALTH HOLD    TMH US          797.4       52.1      (58.6)
DOMINO'S PIZZA      DPZ US          427.6       92.8   (1,290.0)
REVLON INC-A        REV US          765.8       63.9   (1,027.2)
INCYTE CORP         INCY US         502.7      332.9     (114.4)
WORLD COLOR PRES    WC CN         2,641.5      479.2   (1,735.9)
LIBBEY INC          LBY US          776.9      128.0      (18.3)
KNOLOGY INC         KNOL US         641.7       30.9      (28.3)
WORLD COLOR PRES    WCPSF US      2,641.5      479.2   (1,735.9)
MERU NETWORKS IN    MERU US          88.8        0.5       (4.1)
GRAHAM PACKAGING    GRM US        2,126.4      187.6     (629.0)
WORLD COLOR PRES    WC/U CN       2,641.5      479.2   (1,735.9)
FORD MOTOR CO       F US        195,485.0   (7,269.0)  (5,437.0)
COMMERCIAL VEHIC    CVGI US         276.8      105.5      (10.7)
UNITED RENTALS      URI US        3,584.0       30.0      (48.0)
US AIRWAYS GROUP    LCC US        7,808.0     (445.0)    (447.0)
INTERMUNE INC       ITMN US         190.9      102.8      (21.3)
AFC ENTERPRISES     AFCE US         114.6       (2.0)     (11.5)
RURAL/METRO CORP    RURL US         286.2       38.7     (100.9)
JAZZ PHARMACEUTI    JAZZ US         106.7      (31.2)     (69.0)
SALLY BEAUTY HOL    SBH US        1,531.5      366.1     (553.1)
BROADSOFT INC       BSFT US          68.3        1.7       (6.4)
CENTENNIAL COMM     CYCL US       1,480.9      (52.1)    (925.9)
FORD MOTOR CO       F BB        195,485.0   (7,269.0)  (5,437.0)
BLUEKNIGHT ENERG    BKEP US         303.6      (15.3)    (147.2)
AMER AXLE & MFG     AXL US        1,967.6       (0.3)    (545.4)
EPICEPT CORP        EPCT SS           6.3        0.2      (12.7)
WABASH NATIONAL     WNC US          249.0     (154.6)     (62.4)
HALOZYME THERAPE    HALO US          65.2       48.9       (3.2)
ALIMERA SCIENCES    ALIM US          16.3        3.5      (42.7)
CC MEDIA-A          CCMO US      17,400.0    1,279.2   (7,054.8)
AMR CORP            AMR US       25,525.0   (1,407.0)  (3,892.0)
RSC HOLDINGS INC    RRR US        2,669.6      (66.1)      (9.8)
MANNKIND CORP       MNKD US         243.3        8.5     (100.9)
NPS PHARM INC       NPSP US         140.4       95.2     (227.6)
SANDRIDGE ENERGY    SD US         2,971.7      (33.9)    (171.3)
PDL BIOPHARMA IN    PDLI US         358.3      (83.5)    (501.1)
SINCLAIR BROAD-A    SBGI US       1,576.6       48.1     (187.8)
CENVEO INC          CVO US        1,563.5      212.7     (180.6)
IDENIX PHARM        IDIX US          61.0       16.8      (20.7)
PALM INC            PALM US       1,007.2      141.7       (6.2)
ACCO BRANDS CORP    ABD US        1,062.7      240.1     (118.0)
QWEST COMMUNICAT    Q US         19,362.0     (585.0)  (1,120.0)
LIN TV CORP-CL A    TVL US          780.6       22.9     (164.2)
GENCORP INC         GY US           963.4      140.3     (241.2)
VIRGIN MOBILE-A     VM US           307.4     (138.3)    (244.2)
GREAT ATLA & PAC    GAP US        2,827.2      201.3     (396.4)
WARNER MUSIC GRO    WMG US        3,752.0     (557.0)    (116.0)
EASTMAN KODAK       EK US         7,178.0    1,588.0      (53.0)
GLG PARTNERS INC    GLG US          403.5      155.5     (285.9)
CONSUMERS' WATER    CWI-U CN        895.2       (5.3)    (254.9)
GLG PARTNERS-UTS    GLG/U US        403.5      155.5     (285.9)
HOVNANIAN ENT-A     HOV US        2,029.1    1,358.9     (137.0)
HOVNANIAN ENT-B     HOVVB US      2,029.1    1,358.9     (137.0)
EXELIXIS INC        EXEL US         284.2      (32.7)    (199.3)
MAGMA DESIGN AUT    LAVA US         122.1       14.4       (4.3)
CINCINNATI BELL     CBB US        2,589.6       (3.3)    (634.6)
ABRAXAS PETRO       AXAS US         177.8       (5.4)      (6.9)



                           *********

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.

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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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