TCR_Public/100714.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

             Wednesday, July 14, 2010, Vol. 14, No. 193

                            Headlines


155 EAST TROPICANA: Files Form 15 to Deregister 8-3/4% Notes
209 UPSHUR: Case Summary & 6 Largest Unsecured Creditors
ABITIBIBOWATER INC: Delays Disclosure Statement Hearing
ACCELR8 TECHNOLOGY: Receives Notice from NYSE Amex
ACTIVECARE INC: Posts $1.7 Million Net Loss in Q2 Ended March 31

ALMATIS BV: Applies for Approval of BNY Mellon Agreement
ALMATIS BV: Hires Ernst & Young GmbH as Tax Adviser
ALMATIS BV: Seeks to Clarify Linklaters Work
AMERICAN SAFETY: Cut by 'CC' on Need of Restructuring Plan
AMERICAN WENSHEN: Posts $37,500 Net Loss in Q2 Ended March 31

AMES HOLDING: Seeks to Convert Bankruptcy Cases to Chapter 7
APPLEJACK ART: In Talks with McGraw Graphics on Asset Sale
ARKANOVA ENERGY: Posts $646,800 Net Loss in Q2 Ended March 31
ARTHUR POPWELL: Case Summary & 4 Largest Unsecured Creditors
ASDI INC: Organizational Meeting to Form Panel on July 21

AVIS BUDGET: Lenders to Vote on Credit Facility Amendments Today
BARRINGTON BROADCASTING: S&P's Outlook on 'CCC+' Now Positive
BEAR ISLAND: Committee Finds Defects in Lenders' Liens
BLOCKBUSTER INC: Wattles Continues Unloading Class B Shares
BLUE SKY: Reorganization Case Dismissed for Filing Non-Compliance

BULK PETROLEUM: 71 Sells Gas Stations for $12.4 Million
CAL INVESTMENTS: Files Second Amended Plan of Reorganization
CALUMET SPECIALTY: S&P Affirms 'B' Corporate Credit Rating
CANWEST GLOBAL: Implements Amended Plan of Compromise
CAPROCK WINE: Gruet's $6.5-Mil. Wins Auction for Assets

CATHOLIC CHURCH: Pooled Account Is Wilmington Estate Property
CATHOLIC CHURCH: Wilm. Can Withdraw Add'l $7.5MM From Account
CATHOLIC CHURCH: Wilmington Did Not Violate Mediation Order
CAVE LAKES: Section 341(a) Meeting Scheduled for August 19
CENTURION PROPERTIES: Case Summary & 9 Largest Unsecured Creditors

CHEMTURA CORP: Shareholders Oppose Plan-Support Agreement
CIRCUIT CITY: Bankruptcy Clerk Records $69.8MM in Claim Transfers
CIRCUIT CITY: Committee Hires Arsene as French Tax Counsel
CIRCUIT CITY: Wants Removal Period Extended Until Oct. 4
CITIGROUP INC: Cambridge Fund Sues Banks Over Subprime Losses

CRESTRIDGE ESTATES: Intends to Liquidate Assets to Pay Creditors
CW MEDIA: Moody's Upgrades Corporate Family Rating to 'Ba3'
DECODE GENETICS: Files Form 15 to Deregister Securities
DARREN BRADBURN: Case Summary & 18 Largest Unsecured Creditors
DELPHI CORP: Court Rules on Substantial Contribution Claims

DELPHI CORP: District Court Affirms Ruling on Michigan Claim
DELPHI CORP: Kansas Department Orders JPM to Pay Workers
DELTA PETROLEUM: Needs to Secure New Buyer, Raise Funds
DELTA PETROLEUM: Officers Dispose of Shares to Meet Tax Rule
DIVISION PROPERTIES: Case Summary & 14 Largest Unsecured Creditors

DOLLAR THRIFTY: Avis Lenders to Vote on Loan Amendments Today
DRAGON PHARMACEUTICAL: Says It Has Sufficient Votes for Merger
DOUGLAS MUSE: Case Summary & 20 Largest Unsecured Creditors
DUBAI WORLD: Unit Sells Off Stake in Malaysian Partnership
E*TRADE FIN'L: BlackRock Inc. Stake Down to 0.46% of Shares

ELITECOM INC: Case Summary & 21 Largest Unsecured Creditors
F & F LLC: Files Second Amended Disclosure Statement
FAIRPOINT COMMS: Vermont Regulator Delays Plan Confirmation
FIRST PHYSICIANS: March 31 Balance Sheet Upside-Down by $10.9MM
FRANK JODZIO: Taps Procopio Cory as Bankruptcy Counsel

FRANK JODZIO: Section 341(a) Meeting Scheduled for August 10
FX LUXURY: 2nd-Lien Lenders Propose Takeover of CKX Unit
GARLOCK SEALING: Seeks to Employ Bates White as Consultant
GARLOCK SEALING: Wants Schachter Harris as Asbestos Counsel
GARY DEROSE: Voluntary Chapter 11 Case Summary

GENERAL GROWTH: Files Plan of Reorganization
GENERAL GROWTH: Court to Consider More Exclusivity on July 22
GENERAL GROWTH: Hearing on Replacement DIP Financing on July 22
GENERAL GROWTH: Signs Mall Management Deal with Jones Lang
GENERAL GROWTH: To Get $500-Mil. Infusion from Texas Pension Fund

GLASSLINE PARTNERSHIP: Chapter 11 Reorganization Closed
GLENWOOD COMMERCIAL: Case Summary & 20 Largest Unsecured Creditors
GLOBAL CONTAINER: Promises to Repay Creditors in Six Years
GOOD TIMES: Posts $1.3 Million Net Loss in Q2 Ended March 31
GREYSTONE PHARMA: Hearing on Case Dismissal Continued Until Aug. 3

GROVE STREET: Court Extends Filing of Schedules Until July 30
GROVE STREET: Section 341(a) Meeting Scheduled for August 5
GROVE STREET: Taps Ciardi Ciardi as Bankruptcy Counsel
HARVARD GRAND: Files Schedules of Assets and Liabilities
HARVARD GRAND: Taps Levene Neale to Handle Reorganization Case

HEALTHCARE PROVIDERS: Voluntary Chapter 11 Case Summary
HERTZ CORP: Avis Lenders to Vote on Loan Amendments Today
HIGH SIERRA: Moody's Assigns 'B2' Corporate Family Rating
HILL TOP: Section 341(a) Meeting Scheduled for August 2
HONOLULU SYMPHONY: Musicians' Union Rejects Final Contract Offer

IMPERIAL CAPITAL: Has Until September 3 to Propose Chapter 11 Plan
INVESTORS FUND II: Involuntary Chapter 11 Case Summary
INVESTORS FUND V: Involuntary Chapter 11 Case Summary
INVESTORS FUND VIII: Involuntary Chapter 11 Case Summary
IOWA RENEWABLE: Posts $1.4 Million Net Loss in Q2 Ended March 31

ISRAEL GAMLIEL: Case Summary & 9 Largest Unsecured Creditors
ISTAR FINANCIAL: S&P Retains iStar Asset on Select Servicer List
JAIME GONZALEZ: Section 341(a) Meeting Scheduled for July 26
JAMES RITZ: Case Summary & 20 Largest Unsecured Creditors
JASON HINDS: Case Summary & 20 Largest Unsecured Creditors

KEYSTONE GROUP: Case Summary & 18 Largest Unsecured Creditors
KLADEK, INC.: Case Summary & 9 Largest Unsecured Creditors
LAKEVIEW AT CAROLINA: Taps Eric A. Liepins as Bankruptcy Counsel
LAKEVIEW AT CAROLINA: Sec. 341(a) Meeting Scheduled for August 5
LJLRA REAL: Case Summary & Largest Unsecured Creditor

M&M REAL: Voluntary Chapter 11 Case Summary
MACC PRIVATE: Completes Sale of Significant Portfolio Assets
MACC PRIVATE: Posts $613,000 Net Loss in Q2 Ended March 31
MEDICAL STAFFING: Gets Interim OK to Tap Berger as Bankr. Counsel
MEDICAL STAFFING: Section 341(a) Meeting Scheduled for August 18

MEDICAL STAFFING: Gets Interim OK to Hire Mohsin Meghji as CRO
MEDICAL STAFFING: Gets OK to Hire Garden City as Claims Agent
MESA AIR: Files Chapter 11 Status Report
MESA AIR: Wins Nod of Deals With U.S. Bank & MTTC
MESA AIR: Wins Nod of Claims Objection/Settlement Protocol

MISSION TOWERS: Case Summary & 19 Largest Unsecured Creditors
MITEK SYSTEMS: Improves Sales in Q2 Ended March 31
MULTIPLAN INC: S&P Puts 'B+' Rating on CreditWatch Developing
NATIONAL ENVELOPE: Creditors Oppose DIP Financing Approval
NEENAH ENTERPRISES: Expects to Emerge From Bankruptcy By Mid-Month

NEFF CORP: Receives Court Approval of Disclosure Statement
NORTH GENERAL: Court Extends Filing of Schedules By 45 Days
NORTH GENERAL: Organizational Meeting to Form Panel on July 16
ONYX VENTURES: Voluntary Chapter 11 Case Summary
OPTI CANADA: FMR, Fidelity Hold 11.376% of Common Stock

PEARLAND SUNRISE: Voluntary Chapter 11 Case Summary
PETER RUSSO: Case Summary & 10 Largest Unsecured Creditors
POLAROID CORP: 8th Circ. Dismisses Appeal Of $87M Asset Sale
PPA HOLDINGS: Investors Want Reorganization for Unabandoned Units
R. ESMERIAN: Wants Case Converted to Chapter 11

RECTICEL NORTH AMERICA: Court Closes Reorganization Case
REDDY ICE: Corp. Counsel Fernandez Discloses Equity Stake
REDDY ICE: Vending & Leasing Head Discloses Equity Stake
REMINGTON PROFESSIONAL: Case Summary & 11 Largest Unsec. Creditors
ROTHSTEIN ROSENFELDT: E-Mails Portray Desperation for Cash

SALINAS INVESTMENTS: Section 341(a) Meeting Scheduled for August 2
SAMUEL TORRACO: Case Summary & 20 Largest Unsecured Creditors
SCHOONOVER ELECTRIC: Case Summary & 20 Largest Unsecured Creditors
SEA LAUNCH: Inks Agreement with Asia Satellie Telecomms
SEIDEL ENTERPRISES: Pa. Court Rejects Chapter 11 Petition

SINOENERGY CORP: Posts $1.6 Million Net Loss in Q2 Ended March 31
SOLAR ENERTECH: Posts $19.2 Million Net Loss in Q2 Ended March 31
SOUTH BAY: Committee Proposes to Tap Brinkman as Counsel
SOUTH BAY: Gets 4-Month Extension To File Chapter 11 Plan
SOUTH BAY: Wins Approval to Pay 4 SBX Insiders

SOUTHEAST REGENCY: Voluntary Chapter 11 Case Summary
SPONGETECH DELIVERY: Files for Chapter 11 in Manhattan
SPONGETECH DELIVERY: Voluntary Chapter 11 Case Summary
ST. VINCENTS: Hearing on July 22 for Jewish Health-Led Auction
STALLION RESTAURANT: Voluntary Chapter 11 Case Summary

STATION CASINOS: Extends L/C Expiration to February 2011
STEPHEN SILL: Case Summary & 6 Largest Unsecured Creditors
SYNERGX SYSTEMS: Posts $640,500 Net Loss in Q2 Ended March 31
TELECONNECT INC: Posts $335,719 Net Loss in Q2 Ended March 31
THERMOENERGY CORP: Posts $2.0 Million Net Loss in Q1 2010

TEXAS RANGERS: Ryan-Greenberg Group Files Suit, Alleges Breach
TEXAS RANGERS: Said to Attract "Significantly Higher" Bids
TITUS TRANSPORTATION: Promises Quick Reorganization
TRONOX INC: Metawise to Buy Contaminated Iron Oxide Tailings
TRONOX INC: Proposes Grant Thornton as Auditor

TURN OF THE CENTURY: Voluntary Chapter 11 Case Summary
US AIRWAYS: Employees to Share $5.1 Million Bonus for May
US AIRWAYS: Holcome's Stay Motion Rejected by Bankr. Court
US AIRWAYS: Reports June 2010 Traffic Results
US CONCRETE: IRS Objects to Joint Chapter 11 Plan

VEBLEN EAST: Section 341(a) Meeting Scheduled for August 11
VERTRUE INC: S&P Affirms 'B' Rating, Changes Outlook to Stable
VISTEON CORP: Distressed-Debt Investors Accused of Chicanery
WESTMORELAND COAL: BlackRock Inc. Reports 2.24% Equity Stake
WEYERHAEUSER COMPANY: Special Dividend Won't Affect Fitch's Rating

WINDSTREAM CORP: Fitch Puts 'BB+' Rating on $400 Million Notes
WINDSTREAM CORPORATION: Moody's Puts 'Ba3' Rating $400 Mil. Notes
WINDSTREAM CORP: S&P Assigns 'B+' Rating on $400 Mil. Notes
ZALE CORP: BlackRock Inc. Pares Stake to 3.11%

* Class Bolsters Bond Suit Against Orrick, Calif. Bank

* Upcoming Meetings, Conferences and Seminars


                            ********


155 EAST TROPICANA: Files Form 15 to Deregister 8-3/4% Notes
------------------------------------------------------------
155 East Tropicana LLC and 155 East Tropicana Finance Corp. filed
a Form 15 with the Securities and Exchange Commission to terminate
the registration of the Company's 8-3/4% Senior Secured Notes due
2012.

                      About 155 East Tropicana

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

                           *     *     *

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

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


209 UPSHUR: Case Summary & 6 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: 209 Upshur, LLC
        4110 Kansas Avenue NW, Suite 100
        Washington, DC 20011

Bankruptcy Case No.: 10-00676

Chapter 11 Petition Date: July 9, 2010

Court: U.S. Bankruptcy Court
       District of Columbia (Washington, D.C.)

Judge: S. Martin Teel, Jr.

Debtor's Counsel: Janet M. Nesse, Esq.
                  Stinson, Morrison & Hecker LLP
                  1150 18th Street NW, Suite 800
                  Washington, DC 20036
                  Tel: (202) 785-9100
                  E-mail: jnesse@stinson.com

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

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

A copy of the Company's list of 6 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/dcb10-00676.pdf

The petition was signed by Adrian Washington, managing member.


ABITIBIBOWATER INC: Delays Disclosure Statement Hearing
-------------------------------------------------------
Bill Rochelle at Bloomberg News reports that AbitibiBowater Inc.
didn't go ahead with the hearing that was scheduled for July 7 to
approve the disclosure statement explaining the Chapter 11 plan.
The hearing was adjourned to July 15.  Aurelius Capital Management
LP and Contrarian Capital Management LLC contend they have a
blocking position preventing approval of the plan because they own
notes representing more than one-third of unsecured claims against
Bowater.  In addition to other objections, the indenture trustee
for notes issued by Abitibi similarly believes the disclosure
statement shouldn't be approved until it contains an explanation
for how value was allocated between Abitibi and Bowater.

                     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).


ACCELR8 TECHNOLOGY: Receives Notice from NYSE Amex
--------------------------------------------------
Accelr8 Technology Corporation disclosed that on July 7, 2010, the
Company received notification from the Corporate Compliance Staff
of the NYSE Amex LLC that the Exchange Staff has concluded that
the Company has not regained compliance with Sections 1003(a)(ii)
and 1003(a)(iii) of the Exchange's Company Guide due to the fact
that the Company's stockholders' equity is less than the
$4,000,000 and $6,000,000 thresholds set forth in the applicable
rules. Given that this finding could result in the delisting of
the Company's securities, the Company intends to timely request a
hearing before a Listing Qualifications Panel to appeal the
Exchange Staff's determination.

The hearing request will automatically stay the delisting of the
Company's common stock until the Panel issues its decision
following the hearing.  At the hearing, the Company will present
its plan to regain compliance with the Exchange's listing
requirements and will request the continued listing of its
securities on the Exchange.  However, there can be no assurance
that the Panel will grant the Company's request.


ACTIVECARE INC: Posts $1.7 Million Net Loss in Q2 Ended March 31
----------------------------------------------------------------
ActiveCare, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss attributable to common shareholders of
$1,705,956 on $125,506 of revenue for the three months ended
March 31, 2010, compared with a net loss attributable to common
shareholders of $112,982 on $126,760 of revenue for the same
period of 2009.

The Company's balance sheet at March 31, 2010, showed $1,098,435
in assets and $2,987,848 of liabilities, for a stockholders'
deficit of $1,889,413.

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

               http://researcharchives.com/t/s?6651

As reported in the Troubled Company Reporter on January 12, 2010,
Hansen, Barnett & Maxwell, P.C., in Salt Lake City, expressed
substantial doubt about ActiveCare, Inc.'s ability to continue as
a going concern after auditing the Company's financial statements
for the year ended September 30, 2009.

The Company incurred a net loss and has negative cash flows from
operating activities for the years ended September 30, 2009, and
2008, and for the period ended March 31, 2010.  "These factors
raise substantial doubt about the Company's ability to continue as
a going concern."

                      About ActiveCare Inc.

ActiveCare, Inc., manufactures and sells medical diagnostic stains
and equipment to laboratories throughout the United States.  The
Company was formerly known as Volu-Sol Reagents Corp. and changed
its name in July 2009.  ActiveCare, Inc., was founded in 1998 and
is based in West Valley City, Utah.  ActiveCare, Inc., is a former
subsidiary of Remote Mdx Inc.


ALMATIS BV: Applies for Approval of BNY Mellon Agreement
--------------------------------------------------------
Almatis B.V. and its affiliated debtors ask the U.S. Bankruptcy
Court for the Southern District of New York to approve a
disbursing agent agreement with Bank of New York Mellon.

The Agreement requires the Debtors to pay the fees and reimburse
the expenses of BNY Mellon for the services the firm will provide
to implement the Debtors' proposed restructuring plan.

The Debtors' Plan, filed on April 30, 2010, requires them to
enter into an agreement with a disbursing agent in connection
with the implementation of the Plan.

Under the Disbursing Agent Agreement, BNY Mellon is tasked to:

  (1) receive completed letters of transmittal and other
      necessary documentation and supply the same to the
      Debtors, their advisers and the new facility agents;

  (2) record and report details regarding all claimants who have
      returned their letters of transmittal and supporting
      documentation;

  (3) prepare and make a one-time distribution of payments via
      check or wire;

  (4) facilitate claimant inquiries;

  (5) prepare 1099 forms and distribution of the same to
      shareholders; and

  (6) file tax-related information with the Internal Revenue
      Service.

In return for its services, BNY Mellon will be paid a $10,000
"acceptance fee" due at execution of the Disbursement Agent
Agreement, and a $40,000 administration fee due on or before the
effective date of the Plan.  BNY Bank will also receive other
fees, including those charged by its counsel, and will be
reimbursed of its expenses.

A full-text copy of the Disbursing Agent Agreement is available
for free at http://bankrupt.com/misc/Almatis_DAAbnymellon.pdf

                       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: Hires Ernst & Young GmbH as Tax Adviser
---------------------------------------------------
Almatis B.V. and its units sought and obtained Court approval to
employ Ernst & Young GmbH Wirtschaftspr fungsgesellschaft as their
tax adviser effective April 30, 2010.

As tax adviser, Ernst & Young GmbH is tasked to provide tax
advisory services with respect to German law in connection with
the implementation of the Debtors' restructuring plan, and to
resolve the implications of that Plan in Germany.  The firm is
also tasked to provide "ordinary course tax advice" to the
Debtors that are based in Germany on matters unrelated to the
Plan.

The Debtors earlier employed Ernst & Young Belastingadviseurs LLP
to provide them general advice on the tax implications of
implementing their Plan.  E&Y GmbH will make every effort to
avoid duplication of work with E&Y Belastingadviseurs, according
to Remco de Jong, chief executive officer of Almatis B.V.

E&Y GmbH will be paid for its services on an hourly basis and
will be reimbursed for its actual and necessary expenses.  The
E&Y GmbH professionals designated to provide the services and
their hourly rates are:

    Professionals         Role       Hourly Rates
    -------------       --------     ------------
    Ralf Eberhardt       Partner        EUR580
    Marco Huder          Manager        EUR340

In a declaration, Mr. Eberhardt assures the Court that his firm
does not have interest "materially adverse" to the interest of
the Debtors' estates, their creditors and equity security
holders.  He maintains that the firm is a "disinterested person"
under Section 101(14) of the bankruptcy Code.

                       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: Seeks to Clarify Linklaters Work
--------------------------------------------
Almatis B.V. and its affiliated debtors seek an order from the
U.S. Bankruptcy Court clarifying the scope of Linklaters LLP's
employment.

The Debtors made the request after a lawyer of Weil Gotshal &
Manges LLP, who represents Dubai International Capital LLC,
issued a statement expressing belief that Linklaters will not be
involved in the evaluation or analysis of any rival restructuring
proposal or offer.  The statement was issued at the hearing to
consider approval of Linklaters' employment application.

The Debtors' attorney, Matthew Kelsey, Esq., at Gibson Dunn &
Crutcher LLP, in New York, asserts that Linklaters is "in the
best position" to negotiate with DIC to develop term sheets and
other documents for the new debt which would be issued in
connection with any DIC proposal.  He clarifies, however, that in
providing that service, the firm will not advise the Debtors'
boards regarding their fiduciary duties with respect to the
competing offers.

"Linklaters will simply negotiate and develop the documentation
which represents the best offer that can be obtained from DIC,"
Mr. Kelsey says, adding that the Debtors will then evaluate the
risks and benefits from the offer with the advice of Gibson Dunn
and De Brauw Blackstone Westbroek N.V., the Debtors' Netherlands-
based counsel.

"This arrangement is consistent with the function that the
Debtors represented Linklaters would perform," Mr. Kelsey says in
court papers.  "[Thus,] the Debtors respectfully request that the
Court enter an order clarifying that Linklaters can provide such
services."

                       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)


AMERICAN SAFETY: Cut by 'CC' on Need of Restructuring Plan
----------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Verona, Va.-based American Safety Razor to 'CC'
from 'CCC+'.  The outlook is negative.

At the same time, S&P lowered the ratings on the company's senior
secured revolving facility and first-lien term loan to 'CC' from
'B' and kept the recovery ratings on the facilities unchanged at
'1', indicating S&P's expectation for very high (90% to 100%)
recovery in the event of a payment default.  S&P also lowered the
ratings on the company's senior secured second-lien term loan to
'C' from 'CCC' and kept the recovery ratings on the facilities
unchanged at '5', indicating S&P's expectation for modest (10% to
30%) recovery in the event of a payment default.

ASR had about $487 million of reported debt outstanding as of
April 3, 2010.

"The rating action reflects S&P's view that ASR's liquidity could
be constrained because the company has not been in compliance with
covenants in its credit facility for the past two quarters and it
has not finalized terms with its banks," said Standard & Poor's
credit analyst Mark Salierno.  The company would need to finalize
its restructuring plan by the end of July (absent an additional
waiver), upon the expiration of its recently extended waiver
agreements.  S&P also believe that the company's restructuring
plan (if consummated) could likely include a distressed exchange,
although no details have been disclosed at this time.  In the
event that ASR does not reach an agreement with its lenders, S&P
believes that the company could file a petition for reorganization
under Chapter 11 of the U.S. Bankruptcy Code in the U.S.
Bankruptcy Court.  The ratings on American Safety Razor Co., a
private-label/value manufacturer and marketer of razors and
blades, reflects the company's weak liquidity, high debt leverage,
narrow product focus, and relatively small size in a sector
dominated by companies with substantially greater financial
resources.  Although the company maintains a good market position
as a private-label/value manufacturer and marketer of razors and
blades, it competes against larger players in the razor and blade
category.  Despite American Safety Razor's defensive operating
strategy (maintaining a solid private-label/value share in the
consumer market and pursuing niche markets such as specialty
industrial blades), S&P believes the company is vulnerable to
pricing actions by its bigger competitors.

The company faces near-term refinancing risk due to the potential
acceleration of its debt, and S&P is awaiting additional details
of its restructuring plan.  S&P could lower the ratings further in
the event that the company is unable to reach agreement with its
lenders, or enters into an exchange of debt that S&P deem to be
distressed.  If a distressed exchange were to occur, S&P would
lower the corporate credit rating to 'SD' (Selective Default) and
the affected issue ratings to 'D'.  S&P would then consider a
higher rating upon the re-assessment of the company's capital
structure following the completion of a recapitalization.


AMERICAN WENSHEN: Posts $37,500 Net Loss in Q2 Ended March 31
-------------------------------------------------------------
American Wenshen Steel Group, Inc., filed its quarterly report on
Form 10-Q, reporting a net loss $37,521 on $71,094 of revenue for
the three months ended March 31, 2010, compared with a net loss of
$19,346 on $28,352 of revenue for the same period of 2009.

The Company's balance sheet at March 31, 2010, showed $2,967,289
in assets and $3,088,811 of liabilities, for a stockholders'
deficit of $121,522.

As reported in the Troubled Company Reporter on January 15, 2010,
Kabani & Company, Inc., in Los Angeles, expressed substantial
doubt about American Wenshen Steel Group, Inc. and subsidiaries'
ability to continue as a going concern after auditing the
Company's financial statements for the year ended September 30,
2009.  The independent auditors noted that of the Company's
significant operating losses and insufficient capital.

Through March 31, 2010, the Company had incurred cumulative losses
of $10,062,414 including loss from continuing operations of
$100,522 for the six months ended March 31, 2010.

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

               http://researcharchives.com/t/s?6658

                      About American Wenshen

City of Industry, Calif.-based American Wenshen Steel Group,
Inc. (OTC BB: AWSH) through its wholly-owned subsidiary, Chaoyang
Liaogang Special Steel Co., Ltd., a corporation organized under
the laws of The People's Republic of China, is engaged in the
business of manufacturing tungsten carbide steel, stainless steel,
and die steel.  All of Chaoyang Liaogang's business is currently
in China.



AMES HOLDING: Seeks to Convert Bankruptcy Cases to Chapter 7
------------------------------------------------------------
AATT01, Inc., formerly Ames Holding Corp., and affiliated Chapter
11 debtors submitted a motion to the Bankruptcy Court for the
District of Delaware on July 1, 2010, for an order converting
their cases from Chapter 11 to Chapter 7, effective August 1,
2010, and directing the Office of the United States Trustee to
appoint a Chapter 7 trustee to liquidate the remaining assets of
the Debtors.

To provide clarity for our customers, vendors and other
stakeholders, the Debtors are not associated with Axia Acquisition
Corporation dba Ames Taping Tools, a newly created company.  Ames
Taping acquired substantially all of the assets of the Debtors on
March 12, 2010, in a sale approved by the Bankruptcy Court.  Ames
Taping's primary ownership group is comprised of Aurora Capital
Group, GSC Group, and Saybrook Capital.

                     About Ames Taping Tools

Headquartered in Duluth, Georgia, Ames Taping Tool --
http://www.amestools.com-- is the industry's leading provider of
drywall finishing tools, supplies and training.  Since 1939, Ames
Taping and its predecessors have supplied, supported and serviced
residential and commercial interior finishing applications through
a network of company-owned and franchise operations in over 180
locations across the U.S. and Canada.  The proposed conversion of
the Debtors' Chapter 11 bankruptcy cases to Chapter 7 has no
bearing upon the business of Ames Taping Tools.


APPLEJACK ART: In Talks with McGraw Graphics on Asset Sale
----------------------------------------------------------
Jennifer Emens-Butler, Esq., at Obuchowski & Emens-Butler,
attorney of Applejack Art Partners, said a deal is being
negotiated to allow McGraw Graphics to acquire the Company,
according to reporting by the Bennington Banner.  The report
relates that the Company's assets will be put on the auction block
before its creditors after the deal with McGraw is completed.

Applejack Art Partners, Inc., manufactures fine art prints and
sells sports memorabilia.  It acquired Bruce McGaw Graphics in
August 2009, gaining the exclusive rights to images from the Walt
Disney Co., the Museum of Modern Art and Andy Warhol.  Applejack
is represented by the Bethel law firm of Obuchowski and Emens-
Butler.

Applejack Art Partners sought Chapter 11 protection on July 6
(Bankr. D. Vermont Case No. 10-10911)

The petition said that assets are $1,000,000 to $10,000,000 while
debts are $10,000,000 to $50,000,000.  Berkshire Bank holds a
secured note dated March 2007, totaling about $628,124, and a
second secured loan at $102,521.


ARKANOVA ENERGY: Posts $646,800 Net Loss in Q2 Ended March 31
-------------------------------------------------------------
Arkanova Energy Corporation filed its quarterly report on Form
10-Q, reporting a net loss $646,825 on $269,076 of revenue for the
three months ended March 31, 2010, compared with a net loss of
$1.0 million on $102,412 of revenue for the same period of 2009.

The Company's balance sheet at March 31, 2010, showed $14,763,150
in assets, $14,499,003 of liabilities, and $264,147 of
stockholders' equity.

As reported in the Troubled Company Reporter on January 5, 2010,
MaloneBailey, LLP, in Houston, expressed substantial doubt about
the Company's ability to continue as a going concern after
auditing the Company's financial statements for the year ended
September 30, 2009.  The independent auditors noted that the
Company has incurred losses since inception.

Arkanova has incurred losses of $15,562,665 since inception and
has a negative working capital of $2,151,061 at March 31, 2010.

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

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

Based in The Woodlands, Texas, Arkanova Energy Corporation (OTC
BB: AKVA) -- http://arkanovaenergy.com/-- is an exploration and
junior production company engaged in the acquisition, exploration,
and development of oil and gas properties.  The Company has
secured working interest in three key North American areas in
Montana, Arkansas and Colorado.


ARTHUR POPWELL: Case Summary & 4 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Arthur J. Popwell
        3940 Holly Springs Road
        Hernando, MS 38632
        Tel: (901) 827-2364

Bankruptcy Case No.: 10-13303

Chapter 11 Petition Date: July 9, 2010

Court: U.S. Bankruptcy Court
       Northern District of Mississippi (Aberdeen)

Debtor's Counsel: Adam B. Emerson, Esq.
                  P.O. Box 241
                  5293 Getwell Road
                  Southaven, MS 38672
                  Tel: (662) 393-4450
                  E-mail: adam@bridgforthbuntin.com

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

Estimated Debts: $0 to $50,000

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/msnb10-13303.pdf

The petition was signed by the Debtor.


ASDI INC: Organizational Meeting to Form Panel on July 21
---------------------------------------------------------
Roberta A. DeAngelis, Acting United States Trustee for Region 3,
will hold an organizational meeting on July 21, 2010, at 2:00 p.m.
in the bankruptcy case of ASDI Incorporated.  The meeting will be
held at J. Caleb Boggs Federal Building, 844 King Street, Room
2112, Wilmington, DE 19801.

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' cases.

The organizational meeting is not the meeting of creditors
pursuant to Section 341 of the Bankruptcy Code.  A representative
of the Debtor, however, may attend the Organizational Meeting, and
provide background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States
Trustee appoint a committee of unsecured creditors as soon as
practicable.  The Committee ordinarily consists of the persons,
willing to serve, that hold the seven largest unsecured claims
against the debtor of the kinds represented on the committee.
Section 1103 of the Bankruptcy Code provides that the Committee
may consult with the debtor, investigate the debtor and its
business operations and participate in the formulation of a plan
of reorganization.  The Committee may also perform other services
as are in the interests of the unsecured creditors whom it
represents.

Newark, Delaware-based ASDI Incorporated, aka ASDI Biosciences and
Analytical Services of Delaware, filed for Chapter 11 bankruptcy
protection on July 1, 2010 (Bankr. D. Del. Case No. 10-12139).
John D. McLaughlin, Jr., Esq., at Ciardi Ciardi & Astin, assists
the Company in its restructuring effort.  The Company estimated
its assets and debts at $1,000,001 to $10,000,000.


AVIS BUDGET: Lenders to Vote on Credit Facility Amendments Today
----------------------------------------------------------------
Lenders of Avis Budget Group Inc. are expected to vote today,
July 14, in favor of an amendment proposed by the rental car
company to increase the capacity of its current credit agreement,
Mergermarket's Matthew Smith reported Monday, citing a source
close to the discussions.

As widely reported, Avis has largely completed its due diligence
on Dollar Thrifty Automotive Group Inc. and is committed to making
a bid for DTAG.

The source told Mergermarket the proposed loan amendment will
allow Avis to raise an additional $1.2 billion specifically for
the purpose of funding a bid for Dollar Thrifty.  The amendment
requires a majority, 51%, of commitments on the existing
$1.5 billion senior credit facility to vote in favor of the
proposal, the source said.  JP Morgan, Deutsche, Bank of America,
Credit Agricole Corporate & Investment Bank, Citigroup and
Wachovia are listed on the current agreement, with Citigroup
acting as documentation agent.

Mergermarket's source also said Avis told lenders its bid will be
a leverage neutral transaction based on the acquisition of Dollar
Thrifty's EBITDA.  He added that the banks are likely to vote in
favor of the proposal.

The Troubled Company Reporter on Tuesday reported that people
familiar with the matter told The Wall Street Journal's Gina Chon
and Anupreeta Das that Avis Budget is proceeding with plans to
make an offer for Dollar Thrifty that would top rival Hertz Global
Holdings Inc.'s $1.2 billion bid.  The sources told the Journal
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.  Sources also told the Journal cash will make up
the bulk of Avis' bid.

Hertz's offer is made up of 80% cash and 20% stock.

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.

The Journal noted that, under its agreement with Dollar Thrifty,
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'.


BARRINGTON BROADCASTING: S&P's Outlook on 'CCC+' Now Positive
-------------------------------------------------------------
Standard and Poor's Ratings Services revised its outlook on
Barrington Broadcasting LLC to positive from stable.  At the same
time, S&P affirmed all ratings on the company, including the
'CCC+' corporate credit rating.

"The outlook revision and the corporate credit rating reflect
S&P's expectation that the company will be able maintain covenant
compliance through EBITDA growth and debt reduction," said
Standard & Poor's credit analyst Jeanne Shoesmith.

Two-year average EBITDA, which smoothes the effects of advertising
and Olympics cycles, is used in the covenants' EBITDA definition.
The company had an 18%, 2-year average EBITDA cushion of
compliance against its leverage covenant as of March 31, 2010.
However, leverage as calculated for covenant compliance purposes
would increase by roughly 1.5 turns if the equity cure made by
equity sponsor Pilot Group LLP in 2008 is excluded, indicating a
significant risk to compliance.

Additional considerations in the corporate credit rating are
Barrington's heavy debt burden compared with its narrow cash flow
base, narrow cushion of covenant compliance, intensifying
competition for audiences and advertisers from traditional and
nontraditional media, TV advertising's vulnerability to economic
downturns and election cycles, and competition from other major-
network-affiliated TV stations that have parent companies with
greater financial resources.  Although Barrington's portfolio
benefits from its spread across 15 local markets and five TV
networks, S&P is concerned about the effects of a slow recovery or
a further economic decline in the company's Midwest TV markets and
the derailing of recovering auto ad spending.  These factors are
minimally offset by the competitive positions of Barrington's
major-network-affiliated TV stations.

Barrington's 24 TV stations operate in 15 small-to-midsize markets
in the U.S., which offers a smaller total ad revenue and cash flow
opportunity.  For the three months ended March 31, 2010, net
revenue jumped 18.4% and EBITDA nearly doubled from the prior-year
period primarily due to an increase in political, national, and
local revenue.  The EBITDA margin improved slightly to 27.7% for
the 12 months ended March 31, 2010, from 27.4% a year ago.  S&P
expects margins to improve through the remainder of the year as a
result of an increase in advertising demand and political
advertising.  For the same period, lease-adjusted debt to EBITDA
rose to 7.9x from 7.4x a year earlier as a result of EBITDA
declines over the last year.  At March 31, 2010, lease-adjusted
EBITDA coverage of interest, although low at 1.4x, was slightly
better than a year earlier because of lower interest expense
because of lower debt balances.  S&P expects credit metrics to
improve in 2010 as a result of an improvement in advertising
demand and an increase in political advertising.


BEAR ISLAND: Committee Finds Defects in Lenders' Liens
------------------------------------------------------
Bill Rochelle at Bloomberg News reports that the Official
Committee of Unsecured Creditors for Bear Island Paper Co. LLC
believes it has found defects in the secured lenders' collateral.
The Committee has concluded that the lenders don't have valid
security interest in three bank accounts, 22 acres of property and
several vehicles.  At an Aug. 12 hearing, the Committee will ask
the bankruptcy judge to modify the March approval of financing.
The Committee wants the judge to delete the described properties
from the list of the lenders' collateral.

                        About Bear Island

White Birch is the second-largest newsprint producer in North
America.  As of December 31, 2009, the WB Group held a 12% share
of the North American newsprint market and employed roughly 1,300
individuals (the majority of which reside in Canada).
Additionally, for the 12 months ended December 31, 2009, the WB
Group maintained an annual production capacity of roughly
1.3 million metric tons of newsprint and directory paper, up to
50% of which consists of recycled content, and achieved net sales
of roughly $667 million.

Bear Island's assets are almost exclusively located in the U.S.

Bear Island Paper Company, L.L.C., filed a voluntary petition for
relief under Chapter 11 of the United States Bankruptcy Code in
the United States Bankruptcy Court for the Eastern District of
Virginia on February 24, 2010.

The company's parent, White Birch Paper Company, filed for
bankruptcy protection under Canada's Companies' Creditors
Arrangement Act, before the Superior Court for the Province of
Quebec, Commercial Division, Judicial District of Montreal,
Canada.  White Birch and five other affiliates -- F.F. Soucy
Limited Partnership; F.F. Soucy, Inc. & Partners, Limited
Partnership; Papier Masson Ltee; Stadacona Limited Partnership;
and Stadacona General Partner, Inc. -- also sought bankruptcy
protection under Chapter 15 of the U.S. Bankruptcy Code.

Jonathan L. Hauser, Esq., at Troutman Sanders LLP, in Virginia
Beach, Virginia; and Richard M. Cieri, Esq., Christopher J.
Marcus, Esq., and Michael A. Cohen, Esq., at Kirkland & Ellis LLP,
in New York, serve as counsel to White Birch, as Foreign
Representative.  Kirkland & Ellis and Troutman Sanders also serve
as Chapter 11 counsel to Bear Island.  AlixPartnes LLP serves as
financial/restructuring advisor to Bear Island, and Lazard Freres
& Co., serves as investment banker.  Chief Judge Douglas O. Tice,
Jr., handles the Chapter 11 and Chapter 15 cases.


BLOCKBUSTER INC: Wattles Continues Unloading Class B Shares
-----------------------------------------------------------
Mark J. Wattles continues to unload his Blockbuster Inc. Class B
shares.  Mr. Wattles sold 500,000 Class B shares on July 8 and 9,
2010, getting:

     -- between $0.080 and $0.084 a share for those sold Thursday;
        and

     -- between $0.085 and $0.090 a share for those sold Friday.

As of July 12, 2010, Mr. Wattles held 11,050,000 Class B shares.
He indirectly holds those shares -- 7,665,000 shares are held
directly by Wattles Capital Management LLC and 3,385,000 shares
held directly by HKW Trust.  Mr. Wattles owns 100% of the
membership interests of WCM.  He is the settler and sole trustee
of HKW Trust and exercises sole discretion over HKW Trust.

Mr. Wattles also holds 6,200,000 Class A shares -- 6,000,000
shares are held directly by WCM and 200,000 shares held directly
by HKW Trust.

On July 9, 2010, the Troubled Company Reporter said Mr. Wattles
unloaded almost 2 million Class B shares in various transactions
from July 2 to 7, 2010.  In the early transactions, Mr. Wattles
sold the Class B shares for roughly $0.1.  In later transactions,
the shares were sold for less than $0.1.  Specifically, in the
July 7 transactions, the Class B shares were sold for roughly
$0.06.

Prior to forming WCM, Mr. Wattles founded Hollywood Entertainment
Corporation, the second largest video rental and retail chain
after Blockbuster and the second largest video game specialty
retailer after Game Stop Corp., where he was Chairman and Chief
Executive Officer for more than 17 years.  Hollywood was sold for
$1.25 billion to Movie Gallery, Inc., in  April 2005.  The Trust
acquires, holds, manages and disposes of assets for the benefit of
a member of Mr. Wattles' family and The Wattles Family Foundation.

As reported by the Troubled Company Reporter on July 2, 2010,
Blockbuster entered into a Forbearance Agreement with certain of
its senior secured noteholders that provides the Company with
additional time and flexibility as it continues to engage in
productive discussions with certain of these noteholders and
strategic parties regarding various recapitalization
opportunities.

Blockbuster's Forbearance Agreement is with noteholders who have,
collectively, represented that they hold approximately 70% of the
Company's 11.75% senior secured notes due 2014.  The noteholders
executing it have agreed, through August 13, 2010, from exercising
certain rights and remedies they may have under the indenture and
related collateral documents arising from the failure by
Blockbuster to make the payments owing by it under the senior
secured notes on July 1, 2010.  Blockbuster has determined that
it will not make the payments due on the senior secured notes on
July 1, 2010, constituting a $23.9 million amortization payment
(inclusive of a 6.0% redemption premium) and an $18.5 million
interest payment.  By taking this action, Blockbuster will
preserve $42.4 million in incremental liquidity.

                      About Blockbuster Inc.

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

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

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

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


BLUE SKY: Reorganization Case Dismissed for Filing Non-Compliance
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of North
Carolina dismissed the Chapter 11 case of Blue Sky Mountain Co.

As reported in the Troubled Company Reporter on June 10, 2010, the
Office of the Bankruptcy Administrator sought for the dismissal or
conversion of the Debtor's case to one under Chapter 7 of the
Bankruptcy Code.

The Bankruptcy Administrator explained that the Debtor failed to:

   -- file adequate monthly status reports;
   -- pay quarterly fees;
   -- timely file postpetition tax returns; and
   -- timely file a disclosure statement and plan.

Based in Orlando, Florida, Blue Sky Mountain Inc. filed for
Chapter 11 protection on June 4, 2008 (W.D. N.C. Case No. 08-
10433).  When the Debtor filed for reorganization under Chapter
11, it listed total assets of $31,095,300 and total debts of
$6,171,094.


BULK PETROLEUM: 71 Sells Gas Stations for $12.4 Million
-------------------------------------------------------
Hilco Real Estate and its partner on this transaction, The NNN Pro
Group, a division of Marcus & Millichap Real Estate Investment
Services, recently closed the sale of 71 Bulk Petroleum gas
stations.  Located in Iowa, Illinois, Indiana, Kentucky, Michigan,
and Missouri, the properties represent a majority of the assets
owned by Mequon, Wisconsin-based Bulk Petroleum Corp.  The company
filed for Chapter 11 bankruptcy protection in February, 2009.

The majority of the properties were sold in a portfolio purchase
of 63 assets, which was approved by the United States Bankruptcy
Court on May 7, 2010.  The transaction closed in mid-June.  The
other eight locations were sold as individual, one-off sales. A
total of 53 other locations, comprised of operating stations,
closed stations, and land sites, remain available for purchase.

"We are pleased with the results of sales to date and expect to
find buyers for the remaining 53 assets very soon," said Neil
Aaronson, CEO of Hilco Real Estate.

Glen Kunofsky, Senior Vice President at Marcus & Millichap, said,
"The balance of the Bulk Petroleum portfolio provides a potential
buyer or buyers with an opportunity to establish a strategic
presence in important U.S. markets.  We are confident the
remaining properties will be sold quickly."

An offering memorandum and comprehensive due diligence information
for the remaining properties is available online at
http://www.hilcorealestate.com/bulkpetroleum or by calling call
847-313-4790.

                    About Hilco Real Estate

Hilco Real Estate helps businesses improve leverage and cash flow
by repositioning and restructuring their real estate commitments.
The company's focus is to optimize value in the shortest period of
time.  Core competencies include strategic advisory and consulting
services, owned portfolio disposition, lease portfolio
sales/assignments, lease termination, lease renegotiation,
leasing/subleasing, sale of non-core owned assets, sale/leaseback
transactions, and fee and appraisals for leased and owned assets.
The company, which is headquartered in Northbrook, Ill, is a
division of The Hilco Organization.

                      About Bulk Petroleum

Mequon, Wisonsin-based Bulk Petroleum Corp. supplies gasoline to
over 200 gas stations throughout the Midwest.  It buys gasoline
from oil companies and then sells it to individual gas stations.
The company filed for Chapter 11 bankruptcy protection on February
18, 2009 (Bankr. E.D. Wis. Case No. 09-21782).
Jerome R. Kerkman, Esq., at Kerkman & Dunn assists the company in
its restructuring effort.  The company listed $50 million to
$100 million in assets and $50 million to $100 million in debts.

Bulk Petroleum's debtor-affiliates that filed separate Chapter 11
petitions include Charanjeet Illinois Stations No. 6, Inc.,
Darshan's Wisconsin Stations Eight, LLC, Gurpal Wisconsin
Stations, LLC, Interstate Petroleum Products, Inc., Rakhra
Wisconsin E-Z Go Stations Three, Inc., and Sartaj"s Illinois Nine,
LLC.


CAL INVESTMENTS: Files Second Amended Plan of Reorganization
------------------------------------------------------------
Cal Investments Inc. filed with the U.S. Bankruptcy Court for the
Northern District of California a proposed Plan of Reorganization,
amended as of July 7, 2010, and an explanatory Disclosure
Statement.

Completed ballots accepting or rejecting the Plan are due on
August 5.

According to the Disclosure Statement, the Plan provides that the
Debtor will pay off creditors through payments made over time from
income earned from sales of properties, collection of rents and
fees, and re-modification of existing mortgages.  Also, operation
of the business, collection of rents and increase of tenancy rate
will make possible any future profits for the new shareholders of
the Company, creditors included in Classes 9, 10 and 11.

Under the Plan, the Debtor intends to treat claims as:

Class 2 Prime Mortgages - the Debtor intends to rehabilitate five
        properties and make them suitable for human occupancy.
        each of the prime mortgages will be 10% of the current
        market value of the property or less.  The new loans will
        be paid off in full in no more than 60 months from the
        confirmation date.

Class 3 Fully Secured First Mortgages - these creditors will be
        paid in full for the principal amount of debt but the
        remaining past due fees of each creditor will be waived.

Holders of Class 4, 5, 6, 7 and 8 Claims will be subject to loan
        modifications because these creditors would no be fully
        compensated if their property was foreclosed and sold at
        current market value.

Class 9 Unsecured Third Mortgages - this Debt will be completely
        stripped and no monies will be paid to creditor from rents
        or sale of the property.

Class 10 Unsecured Fourth Mortgages and Class 11 General Unsecured
        Claims - Creditors will receive a portion of the stock in
        proportion to their share of the overall unsecured debt
        not being compensated by monies.

A full-text copy of the amended Disclosure Statement is available
for free at:

      http://bankrupt.com/misc/CALINVESTMENTS_2ndAmendedDS.pdf

The Debtor is represented by:

     Scott J. Sagaria, Esq.
     Patrick Calhoun, Esq.
     Sagaria Law, P.C.
     333 W. San Carlos Street, Suite 1700
     San Jose, CA 95110
     Tel: (408) 279-2288
     Fax: (408) 279-2299

                   About Cal Investments, Inc.

Soquel, California-based Cal Investments, Inc., filed for Chapter
11 bankruptcy protection on October 30, 2009 (Bankr. N.D. Calif.
Case No. 09-59405).  According to the Debtors' schedules of
assets and debts, the Company has assets of at least $13,957,842,
and total debts of $22,913,609.


CALUMET SPECIALTY: S&P Affirms 'B' Corporate Credit Rating
----------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on Calumet Specialty Products Partners L.P.  The
outlook is stable.  At the same time, S&P has assigned a senior
unsecured rating of 'B' (the same as the corporate credit rating)
to the proposed $450 million notes.  S&P has assigned a recovery
rating of '4' to this debt, indicating expectations of average
recovery (30% to 50%) in the event of default.

"The ratings on Indianapolis-based Calumet Specialty Products
Partners L.P. reflect the weak near-term outlook for the highly
volatile refining and marketing industry, elevated debt leverage,
small scale of operations, and limited discretionary cash flows
given its MLP structure," said Standard & Poor's credit analyst
Paul Harvey.  Ratings also reflect expectations for continued
favorable margins on specialty products, improving liquidity, and
modest near-term capital spending needs.

Standard & Poor's expects the U.S. refining industry to continue
to face adverse market conditions through 2010.  Nevertheless,
Calumet's 2010 financial measures should continue to benefit from
Calumet's specialty product production (it derived nearly 75% of
gross profit from specialty products during the first quarter of
2010).  S&P expects the company's 2010 adjusted debt leverage to
average between 3.5x to 4.0x, assuming some margin improvement
from first quarter levels.  Calumet's first-quarter 2010 results
evidenced the benefits of its specialty product.  The company's
annualized debt leverage of about 5.5x compared very favorably to
the above 10x average adjusted debt leverage of its fuel-focused
peers.

S&P expects Calumet will likely maintain adequate liquidity
despite weak margins.  Capital spending and distributions should
remain within operating cash flows.  S&P could lower ratings if
liquidity falls below $65 million, or adjusted debt leverage
exceeds 4.5x for a prolonged period.  At this time positive rating
actions are not anticipated given expectations for continued weak
industry conditions throughout 2010.


CANWEST GLOBAL: Implements Amended Plan of Compromise
-----------------------------------------------------
Canwest Global Communications Corp.'s subsidiaries Canwest
(Canada) Inc., Canwest Limited Partnership / Canwest Societe en
Commandite and certain of their subsidiaries have successfully
implemented their amended plan of compromise and arrangement under
the Companies' Creditors Arrangement Act (Canada) as previously
approved by the Ontario Superior Court of Justice on June 18,2010
and consequently their newspaper and digital media businesses have
emerged from creditor protection under the ownership of a newly
incorporated company -- Postmedia Network Inc.

The announcement relates only to Canwest's newspaper and online
digital media businesses.  The stay period granted to the LP
Entities under CCAA remains in place and has been extended to
December 31, 2010.

Canwest, Canwest Media Inc. and certain of its subsidiaries, which
operate the Company's conventional and specialty television
broadcasting businesses, are the subject of a separate CCAA
restructuring process.

                      About Canwest Global

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

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

Monitor in the CCAA proceedings, sought protection in the United
States Bankruptcy Court under Chapter 15 of the United States
Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 09-15994) for
certain of the entities involved in Canwest's television business
that filed for protection under the CCAA, including Canwest,
Canwest Media Inc. and Canwest Global Broadcasting
Inc./Radiodiffusion Canwest Global Inc.  Judge Stuart M. Bernstein
presides over the Chapter 15 cases.  Evan D. Flaschen, Esq., at
Bracewell & Giuliani LLP, in Hartford, Connecticut, serves as
Chapter 15 Petitioner's counsel.  The Chapter 15 Debtors disclosed
estimated assets of $500 million to $1 billion and estimated debts
of $50 million to $100 million.  In a regulatory filing with the
U.S. Securities and Exchange Commission, Canwest Media disclosed
C$4,847,020,000 in total assets and C$5,826,522,000 in total
liabilities at May 31, 2009.  Bankruptcy Creditors' Service, Inc.,
publishes Canwest Bankruptcy News.  The newsletter tracks the CCAA
proceedings and Chapter 15 proceedings undertaken by Canwest
Global Communications Corp. and its affiliates
(http://bankrupt.com/newsstand/or 215/945-7000).


CAPROCK WINE: Gruet's $6.5-Mil. Wins Auction for Assets
-------------------------------------------------------
Lubbock Avalanche-Journal reports that Gruet made highest bid of
$6.5 million during the auction of Caprock Winery.  The sale price
apparently assures that all of the winery's debts -- including
more than $4 million owed to former owner PlainsCapital Bank --
will be paid in full, leaving some money to be fought over between
former managing partner Don Roark and the Oxbridge Capital Group,
a New York venture capital firm that owned 49% of the winery.

Lubbock, Texas-based Caprock Wine Company, LLC, doing business as
Cap*Rock Winery and Cap Rock Winery, filed for Chapter 11 on Dec.
23, 2009 (Bankr. N.D. Tex. Case No. 09-50576).  The petition
listed assets and debts of $1,000,001 to $10,000,000.


CATHOLIC CHURCH: Pooled Account Is Wilmington Estate Property
-------------------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware holds that the entirety of the Catholic
Diocese of Wilmington, Inc.'s pooled investment account is
property of the estate, except for the investment made by St.
Ann's Roman Catholic Church.

As of December, 31, 2009, the Diocese's investments in the PIA
were valued at approximately $45 million.

To recall, the Official Committee of Unsecured Creditors in the
bankruptcy case commenced an adversary proceeding against the
Diocese and certain non-debtor defendants to seek a determination
from the Court regarding ownership of assets held by the Diocese
in the PIA.

In his 44-page opinion, Judge Sontchi noted that the two issues in
the adversary proceeding are:

  (1) whether the funds in the PIA are property of the estate or
      whether the Non-Debtor Defendants' investments in that
      account are held by the Diocese in trust for the benefit
      of the investors; and

  (2) assuming a trust relationship exists, whether the
      Non-Debtor Defendants can identify and trace those trust
      funds.

"The Court finds that the Non-Debtor Defendants' money is held by
the Debtor in a resulting trust on their behalf.  Nonetheless,
applying the lowest intermediate balance test, the Court finds
that the defendants have failed to meet their burden of tracing
those funds," Judge Sontchi opined.

St. Ann's can trace its funds, and thus, the Court finds that its
investment is not property of the estate.  Judge Sontchi held that
evidence established that St. Ann's has a written trust agreement
with the Diocese and "the funds St. Ann's deposited into the
pooled investment program are the trust res."

The Non-Debtor Defendants still have a claim against the Diocese
for their lost investment, Judge Sontchi maintained.  That claim,
however, will share pro rata with the other claims against the
bankruptcy estate, he explained adding that almost certainly, the
claims in this case will not be paid in full.

"This may seem a harsh result for the Non-Debtor Defendants.  But,
to ignore precedent by ruling in their favor would have a negative
impact on the other creditors -- the vast bulk of which are
involuntary creditors that have asserted tort claims against the
Debtor relating to sexual abuse," Judge Sontchi said.

A full-text copy of Judge Sontchi's opinion is available for free
at http://bankrupt.com/misc/Wilmington_PIA_Opinion_06282010.pdf

                      Diocese's Statement

The Catholic Diocese of Wilmington is disappointed with the ruling
issued by the United States Bankruptcy Court regarding the Pooled
Investment Account.  The Court ruled that, although the Pooled
Investment Account is a trust, the funds within the Account
belonging to other Catholic agencies and parishes could not
sufficiently be traced, and so all of these funds must be
considered property of the bankruptcy estate of the Diocese.  The
Diocese disagrees with this ruling, and intends to appeal.

The Pooled Investment Account enables the Diocese, its affiliated
agencies such as Catholic Charities, and the participating
parishes, to lower costs, and realize better returns, by pooling
of their investment funds.  The funds of the agencies and parishes
which were deposited in the Pooled Investment Account remain the
funds of those agencies and parishes, and the Diocese simply
serves as the custodian of the Account.  The Court's ruling
recognizes this, and holds that the Pooled Investment Account is a
trust, and that the funds of the agencies and parishes in the
Account are trust funds.

While the Diocese is gratified that the Court agrees that the
Pooled Investment Account is a trust, unfortunately, the Court
also ruled that the pooled investment accounting records are
insufficient to enable the trust funds of the pooled investors to
be traced into and within the Pooled Investment Account.  This
ruling is surprising, particularly in light of the testimony of
the expert for the Creditors Committee, who described these
accounting records as "meticulous."

The Court also ruled that the affiliated Catholic agencies and
parishes will have a claim in the bankruptcy proceeding to recover
their funds in the Pooled Investment Account, although they will
have to share pro rata with the other claims against the
bankruptcy estate of the Diocese.  The agencies and the parishes
participating in the Pooled Investment Account will pursue these
claims, and in the meantime they will seek court approval to
access their funds to enable them to continue to fund their
ministries.

          Non-Debtor Defendants Seek Reconsideration

The Non-Debtor Defendants ask Judge Sontchi to reconsider his
Opinion arguing that they disagree with his determination that the
law requires them to establish that their assets in the PIA must
be traced from the Diocese's operating account to the PIA under
the lowest-intermediate balance test.

The Non-Debtor Defendants believe that this conclusion fails both
as a factual and legal matter, and, in addition, unintentionally
creates a loophole in the law that could give unscrupulous future
trustees an incentive to tactically structure their accounts to
the detriment of their beneficiaries.

Nevertheless, the Non-Debtor Defendants say that they understand
that the Court has issued a final ruling on that issue, and
therefore, it is not properly subject to reargument.  Thus, the
Non-Debtor Defendants aver that they will save those issues for an
appeal.

On behalf of the Non-Debtor Defendants, Stephen E. Jenkins, Esq.,
at Ashby & Geddes, in Wilmington, Delaware, tells the Court that
the Motion for Reconsideration instead concerns a significant
factual oversight in the Opinion -- an oversight that is critical
to the determination of which PIA funds are property of the
bankruptcy estate pursuant to the Court's ruling.

Specifically, the Opinion finds that because St. Ann's deposited
money directly into the PIA it can trace its funds through the
lowest-intermediate balance test, but that all other defendants
cannot meet that test.

In so concluding, the Opinion inadvertently overlooks the evidence
submitted at trial showing that a huge portion of the PIA funds
were deposited decades ago before the current system found to be
unsatisfactory by the Court was even in place, while other
entities directly wired or otherwise transferred funds into the
PIA just as St. Ann's did, Mr. Jenkins argues.

"In the Opinion, the Court held that St. Ann's funds were not the
property of the estate," Mr. Jenkins note.  "The same logic holds
for any other funds directly transferred into the PIA, and,
accordingly, the Opinion should be revised to reflect that fact,"
he continues.

The Diocese joins in the Motion for Reconsideration.

In another filing, Father Joseph Cocucci, rector of The Cathedral
of Saint Peter, wrote to the Court asking reconsideration of the
Opinion.  Saint Peter is one of the investors of the Diocese's
pooled investment program.

Father Cocucci says that in August 2008, he sent a check for
$297,868 along with a memo indicating clearly that his community
owns the money and that they wanted to invest it in the Diocese's
program.  Since that time they have withdrawn $36,000 in three
installments.

"Your Honor, these funds do not belong to the Diocese.  They
belong to the parish community of the Cathedral of St. Peter,
which, as you probably know, provides an incredible amount of
direct assistance for rent and utilities for the poorest of the
poor in our area through the St. Vincent de Paul Society and the
Seton Center Outreach," Father Cocucci tells Judge Sontchi.  "But
I don't want to use those charitable works as any kind of defense;
I simply want to make the point that the funds do not belong to
the Diocese -- they belong to us and we need them," he adds.

              Committee Wants to Unseal Exhibits

The Official Committee of Unsecured Creditors asks the Court to
unseal all of the joint trial exhibits moved into evidence during
the trial held on June 2 to 4, and 8, 2010, in the adversary
proceeding.

One of the hallmarks of the American legal system is openness,
relates Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones
LLP, in Wilmington, Delaware.  She notes that the Court did not
close courtroom during Phase I of the bifurcated trial in the
adversary proceeding.

"Nonetheless, the Defendants maintain that more than 400 trial
exhibits that were entered into evidence -- nearly 80 of which
witnesses testified about -- should remain sealed and unavailable
to the public pursuant to a confidentiality agreement between the
parties to this adversary proceeding," Ms. Jones contends.  "The
Committee rejects that position and the law does not support it,"
she tells Judge Sontchi.

The First Amendment of the United States Constitution, Section
107(a) of the Bankruptcy Code and Rule 9018 of the Federal Rules
of Civil Procedure all provide for a right of public access to
civil trials, including the documents entered into evidence during
those trials, Ms. Jones argues.  She contends that strong
presumption in favor of the right to public access is abridged
only where a party can show an extraordinary circumstance or
compelling need to seal documents used at trial.  She points out
that the Defendants cannot meet that burden because the exhibits
at issue do not contain trade secrets or commercial information.

Even if the trial exhibits were found to contain trade secrets or
commercial information, the disclosure of the information would
not be detrimental to the Defendants because they do not have
commercial competitors, who would take advantage of the
information, Ms. Jones further argues.  She adds that the salience
of openness is particularly strong in this case, where a culture
of secrecy and cover up of childhood sexual abuse has resulted in
more than 150 unsecured claims filed by survivors of the abuse
perpetrated by those under the control of the Diocese.

In a separate request, the Diocese sought and obtained the Court's
permission to admit into evidence certain joint exhibits that were
not previously admitted into evidence at trial.

                 Non-Debtor Defendants Respond

The parish corporations and non-debtor Catholic entities that
participate in the pooled investment account maintained by the
Diocese at the Bank of New York Mellon relate that the Creditors
Committee's request purports to be about the right of the public
to have access to the evidence introduced in a civil trial.  The
Non-Debtor Defendants assert that that right is important and it
is not to be disregarded lightly.

Unfortunately, the circumstances of this case also call for
caution in the unsealing of evidence, says Mr. Jenkins.  He
contends that present throughout the bankruptcy case has been a
strong -- but unstated -- undercurrent.  He explains that the
undercurrent is that while the Creditors Committee supposedly
represents the interests of various claimed abuse victims, in fact
the parties, who have the largest economic interest in any
recoveries that those claimants will receive, are their state
court lawyers.

It is clear that those state-court lawyers have played an
extremely important behind-the-scenes role in the Creditors
Committee's deliberations, and in addition, have economic
interests that diverge from, and in fact at times conflict with,
the interests of their clients, Mr. Jenkins asserts.  "It is also
clear that it is they (or at least a subset of them) who are
pushing this motion.  The Committee's attorneys, after all,
already have seen this information as have the members of the
Committee themselves," he continues.

Mr. Jenkins contends that it would do no harm if the Motion to
Unseal is deferred until after the Court rules on the Motion for
Reconsideration.  Before the Motion to Unseal is considered, the
Non-Debtor Defendants believe it would be appropriate for the
Court to allow them brief discovery to ascertain the true reasons
for the request.  They insist that discovery would allow the Court
to consider the Motion to Unseal in light of all the facts
presented.

                 About the Diocese of Wilmington

The Diocese of Wilmington covers Delaware and the Eastern Shore of
Maryland and serves about 230,000 Catholics.  The Delaware diocese
is the seventh Roman Catholic diocese to file for Chapter 11
protection to deal with lawsuits for sexual abuse.  Previous
filings were by the dioceses in Spokane, Washington; Portland,
Oregon; Tucson, Arizona; Davenport, Iowa, Fairbanks, Alaska; and
San Diego, California.

The bankruptcy filing automatically stayed eight consecutive abuse
trials scheduled in Delaware scheduled to begin October 19.  There
are 131 cases filed against the Diocese, with 30 scheduled for
trial.

The Diocese filed for Chapter 11 on Oct. 18, 2009 (Bankr. D. Del.
Case No. 09-13560).  Attorneys at Young Conaway Stargatt & Taylor,
LLP, serve as counsel to the Diocese.  The Ramaekers Group, LLC is
the financial advisor.  The petition says assets range $50,000,001
to $100,000,000 while debts are between $100,000,001 to
$500,000,000.  (Catholic Church Bankruptcy News; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


CATHOLIC CHURCH: Wilm. Can Withdraw Add'l $7.5MM From Account
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
the Catholic Diocese of Wilmington, Inc., on a tenth and eleventh
interim bases, to make certain withdrawals from the pooled
investment account for the benefit of the Diocese and certain
pooled investors.

Subject to the terms of the Custody Agreement, Judge Sontchi
authorized the Diocese to make withdrawals from the pooled
investment account and to process withdrawal requests of non-
debtor pooled investors without further Court order, up to these
applicable amounts:

  Pooled Investor           Aggregate Cap
  ---------------           -------------
  Diocese                     $5,400,000
  Foundation                     650,656
  Charities                      328,729
  Cemeteries                     279,500
  Corpus Christi                 164,000
  Siena Hall                     159,009
  Children's Home                151,316
  Holy Family                    135,897
  Seton Villa                    120,119
  Holy Cross                      50,000
  Our Lady of Lourdes             40,000
  Our Mother of Sorrows           23,620
  St. Ann (Wilmington)            10,000
                               ---------
               Total          $7,512,846

Notwithstanding any other provision of the Interim Orders, the
Custodian will have no liability for, or otherwise be in violation
of the Interim Orders, for acting in accordance with the Custody
Agreement or processing any withdrawal or investment requests made
by the Diocese.

Judge Sontchi also authorized the Diocese to continue to invest
and deposit funds into the pooled investment account in accordance
with its prepetition practices, without the need for a bond or
other collateral as required by Section 345(b) of the Bankruptcy
Code.  The entities with which the Diocese's pooled investment
funds are deposited and invested will be excused from full
compliance with the requirements of Section 345(b) until 45 days
following the docketing of a final order directing compliance with
Section 345(b) as to specific accounts following the next hearing
on the requested relief.

Nothing contained in the Interim Orders will prevent the Diocese
from establishing any additional sub-funds within the Pooled
Investment Account as it may deem necessary and appropriate, and
the Account's Custodian is authorized to process the Diocese's
request to account for transactions with respect to the sub-fund.

In the event Pooled Investment Funds or their proceeds transferred
by the Diocese to a non-debtor Pooled Investor pursuant to the
Interim Orders are determined to have been property of the
bankruptcy estate at the time of transfer, the transfer will be
presumed to have been an unauthorized postpetition transfer within
the meaning of Section 549(a)(2)(B) of the Bankruptcy Code,
provided that the presumption may be rebutted by a showing that
the transfer was made in the ordinary course of business within
the meaning of Section 363(c)(1) of the Bankruptcy Code.

Notwithstanding Rule 6004(h) of the Federal Rules of Bankruptcy
Procedure, Judge Sontchi held that the terms and provisions of
Interim Orders will be effective as of July 1, 2010.

                 About the Diocese of Wilmington

The Diocese of Wilmington covers Delaware and the Eastern Shore of
Maryland and serves about 230,000 Catholics.  The Delaware diocese
is the seventh Roman Catholic diocese to file for Chapter 11
protection to deal with lawsuits for sexual abuse.  Previous
filings were by the dioceses in Spokane, Washington; Portland,
Oregon; Tucson, Arizona; Davenport, Iowa, Fairbanks, Alaska; and
San Diego, California.

The bankruptcy filing automatically stayed eight consecutive abuse
trials scheduled in Delaware scheduled to begin October 19.  There
are 131 cases filed against the Diocese, with 30 scheduled for
trial.

The Diocese filed for Chapter 11 on Oct. 18, 2009 (Bankr. D. Del.
Case No. 09-13560).  Attorneys at Young Conaway Stargatt & Taylor,
LLP, serve as counsel to the Diocese.  The Ramaekers Group, LLC is
the financial advisor.  The petition says assets range $50,000,001
to $100,000,000 while debts are between $100,000,001 to
$500,000,000. (Catholic Church Bankruptcy News; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


CATHOLIC CHURCH: Wilmington Did Not Violate Mediation Order
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware denied as
moot the request of the Official Committee of Unsecured Creditors
to hold the Catholic Diocese of Wilmington, Inc., and other
parties in civil contempt for violating the automatic stay and the
second amended Mediation Order.

Judge Sontchi opined that the Creditors Committee has not
established sufficient cause to justify the relief sought in the
request.

To recall, the Creditors Committee asked Judge Sontchi to enforce
the automatic stay and the Mediation Order by compelling the
Diocese, Bishop W. Francis Malooly, Young Conaway Stargatt &
Taylor, LLP, Anthony Flynn and William E. Gamgort to withdraw the
request for leave to file brief of the amicus curiae that they
filed in the Supreme Court of the state of Delaware on June 2,
2010.  In the alternative, if the Amicus Curiae Motion is granted,
the Creditors Committee asked for an order either preventing the
Contempt Parties from filing the underlying amicus curiae brief or
ordering the Contempt Parties to withdraw the underlying amicus
curiae brief, as applicable.

The Supreme Court, however, denied the Motion of Leave to file
brief as Amicus Curiae on June 24, 2010.

Judge Sontchi has not yet ruled on James E. Sheehan's separate
Contempt Motion.

            Sheehan's Reply to Diocese's Objection

Since the Supreme Court denied the Diocese's Amicus Curiae Motion,
James E. Sheehan says that expedited consideration on his Contempt
Motion is no longer necessary, nor is it necessary to order the
Diocese to withdraw its Amicus Curiae Motion.

Nevertheless, Mr. Sheehan submits that all additional relief
specified in his original motion is necessary and appropriate.  He
adds that his request is not moot because he is seeking civil
compensatory attorney's fees for vindicating his rights and
punitive criminal sanctions to vindicate the authority of the
Bankruptcy Court and for violation of federal criminal law.

The Contempt Parties are bound to the order granting his
settlement with the Diocese, despite their unhappiness with being
bound by it, Mr. Sheehan asserts.  Hence, he insists, by raising
"claims" of "any and every kind, nature and character whatsoever,"
which the Diocese had earlier raised pre-settlement in the Sheehan
case, the Contempt Parties knowingly violated the Settlement
Order.

Mr. Sheehan further tells the Bankruptcy Court that he seeks oral
argument on the Contempt Motion but, due to the pending mediation,
it need not be until October 2010.

                 About the Diocese of Wilmington

The Diocese of Wilmington covers Delaware and the Eastern Shore of
Maryland and serves about 230,000 Catholics.  The Delaware diocese
is the seventh Roman Catholic diocese to file for Chapter 11
protection to deal with lawsuits for sexual abuse.  Previous
filings were by the dioceses in Spokane, Washington; Portland,
Oregon; Tucson, Arizona; Davenport, Iowa, Fairbanks, Alaska; and
San Diego, California.

The bankruptcy filing automatically stayed eight consecutive abuse
trials scheduled in Delaware scheduled to begin October 19.  There
are 131 cases filed against the Diocese, with 30 scheduled for
trial.

The Diocese filed for Chapter 11 on Oct. 18, 2009 (Bankr. D. Del.
Case No. 09-13560).  Attorneys at Young Conaway Stargatt & Taylor,
LLP, serve as counsel to the Diocese.  The Ramaekers Group, LLC is
the financial advisor.  The petition says assets range $50,000,001
to $100,000,000 while debts are between $100,000,001 to
$500,000,000. (Catholic Church Bankruptcy News; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


CAVE LAKES: Section 341(a) Meeting Scheduled for August 19
----------------------------------------------------------
The U.S. Trustee for Region 17 will convene a meeting of Cave
Lakes Canyon, LLC's creditors on August 19, 2010, at 4:00 p.m.
The meeting will be held at 300 Las Vegas Boulevard., South, Room
1500, Las Vegas, NV 89101.

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

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

Las Vegas, Nevada-based Cave Lakes Canyon, LLC, filed for Chapter
11 bankruptcy protection on July 1, 2010 (Bankr. D. Nev. Case No.
10-22419).  Neil J. Beller, Esq., who has an office in Las Vegas,
Nevada, assists the Company in its restructuring effort.  The
Company listed $18,283,110 in assets and $4,122,607 in debts.


CENTURION PROPERTIES: Case Summary & 9 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Centurion Properties III, LLC
        100 N Fruitland Street, Suite E
        Kennewick, WA 99336

Bankruptcy Case No.: 10-04024

Chapter 11 Petition Date: July 9, 2010

Court: U.S. Bankruptcy Court
       Eastern District Of Washington (Spokane/Yakima)

Judge: Frank L. Kurtz

Debtor's Counsel: John D. Munding, Esq.
                  Crumb & Munding
                  Davenport Tower, PH 2290
                  111 S. Post Street
                  Spokane, WA 99201-
                  Tel: (509) 624-6464
                  Fax: (509) 624-6155
                  E-mail: munding@crumb-munding.com

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

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

The petition was signed by Michael E. Henry of SMI Group XIV LLC,
managing member.

Debtor's List of 9 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Centurion Southwest, LLC           Business Loan       $12,160,543
5301 Central Avenue NW, Suite 200
Albuquerque, NM 87108

Centurion Pacific, LLC             Business Loan        $3,984,098
Attn: Aaron Hazelrigg
5301 Central Avenue NW, Suite 200
Albuquerque, NM 87108

Sigma Management, Inc.             Business Loan          $182,285
100 N. Fruitland Street, Suite E
Kennewick WA 99336

Aaron J. Hazelrigg                 Business Debt                --

Centrum Financial Services, Inc.   Business Debt,               --
                                   Disputed

Centurion Management III, LLC      Business Debt,               --
                                   Disputed

Daniel Kirby                       Business                     --

Equity Funding, LLC                Business Debt                --

Nicole M. Kelly                    --                           --


CHEMTURA CORP: Shareholders Oppose Plan-Support Agreement
---------------------------------------------------------
Bill Rochelle at Bloomberg News reports that the official equity
committee for Chemtura Corp. is objecting to a plan-support
agreement where the statutory unsecured creditors committee and an
ad hoc group of bondholders bind themselves to support the
reorganization plan originally filed in June.

According to the report, the Equity Committee contends that lock-
up agreement is barred by bankruptcy law if it's made during the
Chapter 11 case.  It also argues that the agreement has no purpose
aside from giving the ad hoc committee a $7 million payment for
making a substantial contribution in the case.

The report adds that the Equity Committee posits that only the
bankruptcy judge has the right to bestow a creditor with a payment
for making a substantial contribution.  The group says the payment
can't be camouflaged as a settlement.

Chemtura late last week filed a revised Plan of Reorganization.
Chemtura says that, as with the June version of the Plan, the
revised Plan provides the potential to satisfy all creditors'
claims in full, as well as offering value to equity holders.  The
revised Plan provides that in order to resolve certain asserted
diacetyl liabilities, Chemtura's Canadian subsidiary, Chemtura
Canada Co./Cie, will be filing 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 Court has scheduled a hearing to consider approval of the
disclosure statement explaining the Plan on July 21, 2010.

                    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)


CIRCUIT CITY: Bankruptcy Clerk Records $69.8MM in Claim Transfers
-----------------------------------------------------------------
The Clerk of the Bankruptcy Court recorded the transfer of these
claims, totaling $69,821,000, for the month of July 2010:

Transferor           Transferee           Claim No.   Claim Amt.
----------           ----------           --------    ----------

American Future      VonWin Capital           1279        $1,554
Technology           Management, LP           1279         4,570
                                              7415       200,944
                                        Schedule F       211,125

CC Properties LLC    United States           12588       932,005
                     Debt Recovery V         12589     1,069,909
                     LP                      12735       866,003
                                             14519       462,768
                                             14520     1,168,493

DXG Technology       Longacre                  420         9,532
USA                  Opportunity                 -        11,690
                     Offshore Fund,
                     Ltd.

IBM Corporation      Contrarian Funds,       12500     2,476,177
                     LLC                     14563    43,068,651
                                             14818    19,101,155

Orbis Corporation    Southpaw Koufax,         3494       236,424
                     LLC

As of July 8, 2010, the total amount of claims traded for the
month of July has exceeded the total amount of transferred claims
in June, which aggregated roughly $28,575,360.

                       About Circuit City

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

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

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

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

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

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


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

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

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

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

Arsene Taxand will provide various services, including:

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

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

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

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

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

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

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

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

                       About Circuit City

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

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

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

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

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

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


CIRCUIT CITY: Wants Removal Period Extended Until Oct. 4
--------------------------------------------------------
Pursuant to Section 105(a) of the Bankruptcy Code and Rule
9006(b) of the Federal Rules of Bankruptcy Procedure, Circuit
City Stores, Inc., and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Eastern District of Virginia to extend
the period within which they may remove actions pending on the
Petition Date through the later of (i) October 4, 2010, or (ii)
30 days after entry of an order terminating the automatic stay
with respect to any particular action sought to be removed.

The current Removal Period expires on the later of August 3,
2010, or 30 days after entry of an order terminating the
automatic stay with respect to a certain action.

The Debtors are currently parties to numerous judicial and
administrative proceedings pending in various courts and
administrative agencies.  The Actions involve a variety of
claims, including discrimination, workers' compensation, and
product liability claims, Douglas M. Foley, Esq., at McGuireWoods
LLP, in Richmond, Virginia, relates.

The Debtors require additional time to determine which, if any,
of the Actions should be removed and, if appropriate, transferred
to this district, according to Mr. Foley.

Since they announced their liquidation on January 16, 2009, the
Debtors have been focused on winding down their remaining
affairs.  Most recently, the Debtors have engaged in substantial
negotiations with the Official Committee of Unsecured Creditors
concerning their First Amended Joint Plan of Liquidation, Mr.
Foley explains.

The Debtors' adversaries will not be prejudiced by an extension
because the adversaries may not prosecute the Actions absent
relief from the automatic stay, Mr. Foley says.  Moreover,
nothing in the extension motion will prejudice any party to a
proceeding that the Debtors seek to remove from pursuing remand
pursuant to Section 1452(b) of the Judicial and Judiciary
Procedure Code, he adds.

                       About Circuit City

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

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

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

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

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

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


CITIGROUP INC: Cambridge Fund Sues Banks Over Subprime Losses
-------------------------------------------------------------
Rowena Mason at The Daily Telegraph reports that Cambridge Place
Investment Partners, a fund based in Boston, Massachusetts, is
suing Wall Street banks for over EUR1.6 billion -- $2.4 billion --
of subprime losses.

The banks named in the lawsuit, filed Friday in Boston, include:

     -- HSBC,
     -- Barclays
     -- Royal Bank of Scotland
     -- JP Morgan,
     -- Citigroup,
     -- Credit Suisse,
     -- Deutsche Bank,
     -- Merrill Lynch,
     -- UBS,
     -- Goldman Sachs, and
     -- Morgan Stanley

The Telegraph says the suit could turn out to be a test case for
funds seeking restitution for their losses during the financial
crisis.

The report says the lawsuit states that Barclays, HSBC and RBS all
sold mortgage-backed securities based on "untrue statements".
Cambridge Place also blames the "mortgage originators" -- the sub-
prime lenders responsible for assessing borrowers -- for bending
the truth about the worth of the loans.  The fund says the banks
failed to conduct proper due diligence before packaging the loans
into financial instruments and repeated untrue statements about
the sub-prime mortgages in their prospectuses and sales pitches.

New York law firm Bernstein Litowitz Berger & Grossman represents
the fund.  According to the Telegraph, if the plaintiffs win, they
will get their money back and return the securities to the banks,
saddling the institutions with dodgy loans once more.


CRESTRIDGE ESTATES: Intends to Liquidate Assets to Pay Creditors
----------------------------------------------------------------
Crestridge Estates, L.L.C., filed with the U.S. Bankruptcy Court
for the Central District of California a proposed Plan of
Reorganization and an explanatory Disclosure Statement.

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

The Debtor proposes a hearing on its Disclosure Statement on
August 4, 2010, at 11:00 a.m. at Courtroom 5D, 5th Floor, 411 W.
Fourth Street, Santa Ana, California.

According to the Disclosure Statement, the Plan provides for the
Debtor to reorganize by continuing to operate, to liquidate by
selling assets of the estate, or a combination of both.  The value
of a certain undeveloped land located in Rancho Palos Verdes,
California, upon completion of the entitlements will be
approximately $25,000,000.  Based on the Debtor's projections to
reach entitlement, the Debtor estimates that the time to reach the
entitled status will be up to eight months at a cost of roughly
$250,000.

In connection with Plan confirmation, The 2005 John D. Thomas
Trust or its designee, the Debtor's equity holder, will contribute
$375,000 as a "new value" contribution to the Debtor.

                       Treatment of Claims

Class 1 - Statutory secured claim of County of Orange ($27,720) -
          will be paid in full.

Class 2 to 5 Secured Claims - on the effective date, the Debtor
          will pay a portion of the Class 2 to 5 secured claims.
          The balance of the claims will continue to accrue
          interest at non-default contract rate until the time as
          the claim is paid in full from either sale or refinance
          proceeds.  Until the claim is satisfied, it will
          continue to retain its lien on the property with the
          same validity, extent and priority as claimant was
          entitled to on the petition date.

The secured claims under these classes include:

   Class 2 First priority secured claim of First Regional Bank
           ($16,575,000)

   Class 3 Second priority secured claim of Heil Construction,
           Inc. ($225,000)

   Class 4 Third priority secured claim of Carey F. Baumkirchner
           Profit & Retirement Plan dated 10/30/84 ($300,000)

   Class 5 Fourth priority secured claim of Spillane Weingarten
           LLP and Jay Spillane ($283,000)

Class 6 General unsecured claims ($230,584) - the Debtor will
        pay to Class 6 $5,000.  The balance of the claims will
        accrue interest at the rate of 3% per annum until the time
        as the claims are paid in full from either sale or
        refinance proceeds.

Class 7 Equity interests - on the Effective Date, existing equity
        interests in the Debtor will be extinguished.  In exchange
        for the "new value" contribution, 100% equity interest in
        the Reorganized Debtor will be transferred to The 2005
        John D. Thomas Trust or its designee.

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

The Debtor is represented by:

     David B. Golubchik, Esq.
       E-mail: dbg@lnbrb.com
     Lindsey L. Smith, Esq.
       E-mail: lls@lnbrb.com
     Levene, Neale, Bender, Rankin & Brill L.L.P.
     10250 Constellation Boulevard, Suite 1700
     Los Angeles, California 90067
     Tel: (310) 229-1234
     Fax: (310) 229-1244

                   About Crestridge Estates, LLC

Costa Mesa, California-based Crestridge Estates, LLC, filed for
Chapter 11 bankruptcy protection on March 24, 2010 (Bankr. C.D.
Calif. Case No. 10-13689).  The Company estimated its assets and
debts at $10,000,001 to $50,000,000.

The Company's affiliate, 468 Ashton LLC, filed a separate Chapter
11 petition on August 29, 2008 (Case No. 08-15323).


CW MEDIA: Moody's Upgrades Corporate Family Rating to 'Ba3'
-----------------------------------------------------------
Moody's Investors Service upgraded CW Media Holding Inc.'s
corporate family and probability of default ratings to Ba3 from
Caa2.  At the same time, ratings of the company's senior secured
facility were upgraded to Ba2 from B3 while ratings for the
company's senior unsecured notes were upgraded to B1 from Ca.  The
ratings outlook is stable.

The rating action concludes a review initiated on April 13, 2009,
that was intended to separate CW Media's ratings from those of
Canwest Media Inc., a company deemed to control CW Media by way of
a joint venture agreement with Goldman Sachs Capital Partners.
Subsequently, on October 6, 2009, Canwest filed for creditor
protection and while CW Media did not, its prospects and,
potentially, its debt structure, were inextricably linked to
Canwest's pending restructuring.  In that regard, as a consequence
of an agreement among, including others, Shaw Communications Inc.,
Canwest, and GSCP, and with that agreement having been court-
approved on June 23rd, it now appears -- subject to applicable
regulatory process and approvals -- that CW Media will become an
indirect wholly-owned subsidiary of Shaw.  While there are likely
to be further machinations that affect CW Media's operations and
finances, Moody's feel there are now sufficient facts with which
to conclude the ratings review.  In particular, Moody's are
confident that the company's debt structure will not be subject to
material revision for the foreseeable future.

CW Media's Ba3 CFR/PDR reflects, as is the case with all Canadian
specialty / subscription cable television operations, a growing
revenue stream and strong profit margins.  Moody's anticipate free
cash flow will expand as the top line continues to grow.  In turn,
this will facilitate de-levering, something -- despite CW Media's
debt being non-recourse to Shaw -- Moody's expect the new owner
will fully encourage in order to facilitate maximum flexibility
for a future refinance on more advantageous terms and conditions.
While Shaw's strategy for CW Media is not clear to us, Moody's
believe Shaw is committed to marrying its distribution
capabilities with CW Media's content.  With this and given Shaw's
Baa3 senior unsecured rating, Moody's view the company's pending
sponsorship of CW Media favourably.  Moody's also view the
Canadian regulatory environment as a positive ratings factor,
providing substantial barriers to entry and enhancing the
sustainability of the revenue stream.  CW Media also has good
liquidity, with a combination of positive free cash flow and an
unused C$50 million credit facility that is committed into 2013
and to which access will not be encumbered by financial covenant
compliance issues.

Rating and Outlook Actions:

Issuer: CW Media Holdings Inc.

  -- Corporate Family Rating, Upgraded to Ba3 from Caa2

  -- Probability of Default Rating, Upgraded to Ba3 from Caa2

  -- Senior Secured Bank Credit Facility, Upgraded to Ba2 (LGD2,
     24%) from B3 (LGD2, 25%)

  -- Senior Unsecured Regular Bond/Debenture, Upgraded to B1
     (LGD5, 79%) from Ca (LGD5, 88%)

  -- Outlook, Changed To Stable From Rating Under Review

Moody's most recent rating action concerning CW Media was taken on
April 13, 2009, at which time the company's CFR and PDR were
assigned as Caa2 and placed on review for possible upgrade.

CW Media Holdings Inc. is a Toronto, Ontario based specialty /
subscription cable television joint venture.  One of the joint
venture partners, Canwest Media Inc., is operating under creditor
protection.  Presuming all applicable regulatory approvals,
Canwest's restructuring plans result in CW Media being sold to
Shaw Communications Inc. Based in Calgary, Alberta, Canada, Shaw
is a diversified Canadian communications company whose core
business is providing cable television, Internet and telephone
service to residential consumers in specific regions provided for
in its operating licenses (offered under the Shaw brand name).
Shaw also provides television signals to residential consumers on
a national basis via satellite direct-to-home services.


DECODE GENETICS: Files Form 15 to Deregister Securities
-------------------------------------------------------
DGI Resolution, Inc., fka deCODE Genetics, filed with the
Securities and Exchange Commission a Form 15 to terminate the
registration of the Company's:

     1. DGI Resolutions, Inc. Common Stock;
     2. DGI Resolutions, Inc. Preferred Stock; and
     3. DGI Resolutions, Inc. 3.5% Senior Convertible Notes
        due April 15, 2011

                       About deCODE Genetics

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

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


DARREN BRADBURN: Case Summary & 18 Largest Unsecured Creditors
--------------------------------------------------------------
Joint Debtor: Darren L. Bradburn
              Connie L. Bradburn
              1810 Red Brush Street
              Wichita, KS 67206

Bankruptcy Case No.: 10-22359

Chapter 11 Petition Date: July 9, 2010

Court: U.S. Bankruptcy Court
       District of Kansas (Kansas City)

Debtor's Counsel: Mark J. Lazzo, Esq.
                  Landmark Office Park
                  3500 N Rock Road
                  Building 300, Suite B
                  Wichita, KS 67226
                  Tel: (316) 263-6895
                  Fax: (316) 264-4704
                  E-mail: mark@lazzolaw.com

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

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

A copy of the Joint Debtors' list of 18 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/ksb10-22359.pdf

The petition was signed by the Joint Debtors.


DELPHI CORP: Court Rules on Substantial Contribution Claims
-----------------------------------------------------------
U.S. Bankruptcy Judge Robert Drain granted the application for
substantial contribution claims filed by Davidson Kempner Capital
Management LLC; Elliott Associates, L.P.; Nomura Corporate
Research & Asset Management, Inc.; Northeast Investors Trust; SPCP
Group, LLC and Whitebox Advisors, LLC, collectively referred to as
the "Senior Noteholders."

The Court also authorized the Reorganized Debtors to reimburse
the applicant Senior Noteholders and holders of Senior Notes
previously represented by their professionals for $3,723,634 in
accordance with the Modified First Amended Joint Plan of
Reorganization.  Payment will be directed to Goodwin Procter LLP
for the benefit of the Applicant Senior Noteholders and the
holders of Senior Notes previously represented by their
professionals, Judge Drain held.

On the other hand, Judge Drain denied the application of CR
Intrinsic Investors, LLC and Elliott Associates, L.P., for
allowance of substantial contribution claim in the Reorganized
Debtors' Chapter 11 cases.

Meanwhile, Judge Drain will consider Highland Capital Management,
L.P.'s Substantial Contribution Motion on July 22, 2010.

As directed by the Court, Patrick H. Daugherty, a partner and the
head of Distressed and Private Equity Investments at Highland
Capital, filed a declaration in support of Highland's Substantial
Contribution Motion.

Mr. Daugherty asserts that in order to distribute Delphi Corp.'s
value fairly for all creditor and equity constituents, Highland
Capital is willing to invest far more and expose itself to
greater risk than Appaloosa Management, L.P.  Of all the parties-
in-interest, only Highland Capital submitted alternative
investment offers and entered into serious negotiations with
Delphi concerning plan alternatives that resulted in hard dollar
benefits, he stresses.  "Highland Capital's actions were
essential to Delphi to provide it the leverage needed to
negotiate workable agreements and save it $19 million in fees
reflecting a tangible real dollar savings to Delphi during these
Chapter 11 cases," he maintains.

Judge Drain held that the Daugherty Declaration will constitute
Mr. Daugherty's direct testimony in support of Highland Capital's
Substantial Contribution Motion; and that no other direct
testimony, other than a rebuttal declaration, will be permitted
with respect to the Highland Substantial Contribution Motion.
Judge Drain also directs Mr. Daugherty to be available for a
deposition on July 13 to 16, 2010.

Moreover, the Court entitles the Reorganized Debtors to submit a
declaration to rebut the Daugherty Declaration or the Daugherty
Deposition, but prohibits the same to submit any other direct
testimony not already submitted at a May 20, 2010 hearing.  If
the Reorganized Debtors submit a Rebuttal Declaration, their
declarant should be made available for a deposition on either
July 19 or 20, 2010.

Mr. Daugherty and the Reorganized Debtors' declarant, as
applicable, should be present at the July 22 hearing and
available for cross-examination or questioning by the Court,
Judge Drain added.

                IUE-CWA Appeals Denial Order

The International Union of Electronic, Electrical, Salaried,
Machine and Furniture Workers - Communications Workers of America
submitted to the U.S. District Court for the Southern District of
New York a statement of issues on its appeal of Judge Drain's
denial of its Substantial Contribution Claim Payment Motion.

The IUE-CWA wants the District Court to review whether the U.S.
Bankruptcy Court for the Southern District of New York erred in:

  (1) failing to find that IUE-CWA made a substantial
      contribution to the Debtors' reorganization where the
      Union played a leading role in permitting the Debtors'
      estates to reorganize, including successful challenges to
      management compensation plans, which would have cost the
      Debtors $80 million had they been included in the plan of
      reorganization; and

  (2) finding that only an indirect benefit was conferred on the
      Debtors' estates by the IUE-CWA, including the union's
      actions that resulted in an agreement modifying the
      Debtors' collective bargaining agreements.

                        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: District Court Affirms Ruling on Michigan Claim
------------------------------------------------------------
Judge Shira A. Scheindlin of the U.S. District Court for the
Southern District of New York issued a ruling on June 30, 2010,
affirming Judge Drain's order denying Michigan Self-Insurers'
Security Fund's Motion to File Late Claim.

Judge Scheindlin related that the Bankruptcy Court stated that
allowing late filed claims especially after a debtor's plan is
confirmed, subjects the debtor to prejudice, because it would
have to renegotiate settlements reached in contemplation of the
known claims against the estate.  Although the Michigan Fund
argues that its claims are small when compared to the size of the
Reorganized Debtors' estates, bankruptcy courts have found
prejudice to the debtor in analogous situations when the late
claims were only a small percentage of the bankruptcy estate,
Judge Scheindlin pointed out.

Judge Scheindlin also found that a three-year delay by the
Michigan Fund in filing its claims far exceeds delays that courts
have considered substantial in similar cases.  The Bankruptcy
Court has stressed that the fact that the claim was filed after
the proposal of the Modified Plan that had been negotiated meant
that those very sensitive negotiations would have been at that
point significantly jeopardized by the filing of the late claim,
Judge Scheindlin acknowledged.

The Michigan Fund reasoned that its neglect resulted from the
erroneous belief that it did not possess a claim against the
Debtors as of the Bar Date, and that neglect was excusable
because all information available to it indicated that the
Debtors were continuing to pay all of their workers' compensation
obligations both before and after the Petition Date.  The
information that the Michigan Fund is referring to is the Human
Capital Obligations Order and 2008 letters.

However, that document does not refute the Bankruptcy Court's
specification that it did not direct the Debtors to pay, and that
there was always a risk that based upon changed circumstances and
the debtor's exercise of its business judgment, the Debtors would
not make those payments, Judge Scheindlin opined.  "As there was
always a risk that the Reorganized Debtors would stop paying
workers' compensation, the [Michigan] Fund was obligated to file
a claim based on that contingency."

For those reasons, Judge Scheindlin found that the Bankruptcy
Court did not abuse its equitable discretion in balancing the
factors for excusable neglect In re Pioneer Investment Services
Co. v. Brunswick Associates Ltd. Partnership.  "In finding the
good faith factor weighed in favor of the Fund, the Bankruptcy
Court acted within its discretion in deciding that the Fund
should not be permitted to file late claims," Judge Scheindlin
held.

Judge Scheindlin thus directs the Clerk of the Court to close the
Michigan Fund's appeal.

A full-text copy of the 17-page District Court Opinion and Order
dated June 30, 2010, is available for free at:

         http://bankrupt.com/misc/Delphi_June30Opinion.pdf

                        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: Kansas Department Orders JPM to Pay Workers
--------------------------------------------------------
Paula S. Greathouse, director of the Kansas Department of Workers
Compensation, entered on June 16, 2010, an order regarding JP
Morgan Chase Bank's payment of workers' costs under a letter of
credit.

Delphi Corp., as a guarantee for the payment of all of its
workers compensation obligations, established Letter of Credit
No. P-227191 with JPMorgan on June 27, 2002.  The LOC expired on
June 27, 2003.  The LOC was renewed annually in favor of the
Kansas Department of Labor for $1,004,000.  The LOC secures
payment of compensation, costs and assessments incurred by Delphi
under the provisions of the Workers' Compensation Act of the
State of Kansas.

Ms. Greathouse noted that Delphi will not have sufficient funds,
save for the LOC, to pay all claims properly payable for its
workers' compensation awards, benefits and obligations.  In
accordance with the LOC, JPMorgan will pay, in trust, all funds
to the extent of the Bank's liability on the LOC for all for the
purpose of paying compensation benefits, medical expenses, and
costs associated with Kansas workers compensation claims
resulting from accidents occurring to persons employed from
May 28, 1999 through October 1, 2006, Ms. Greathouse noted.

Under her order, Ms. Greathouse directed JPMorgan to pay to the
Kansas Division of Workers Compensation $1,004,000, which will be
held in trust by the trustee named in the LOC for the
purpose of defending, adjusting, settling, or paying amounts
incurred as a result of any workers compensation claims and
awards, whether administered by the Workers Compensation Fund or
the Kansas Division of Workers Compensation, and for the purpose
of paying assessments.

                        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: Needs to Secure New Buyer, Raise Funds
-------------------------------------------------------
Dow Jones Daily Bankruptcy Review reports that investors and
analysts said Delta Petroleum Corp. needs to secure another
strategic investor or raise new funding to meet debt payments due
over the next year, after failing to seal a joint-venture deal
with Opon International LLC.

As reported by the Troubled Company Reporter on July 9, 2010,
Delta said it has terminated discussions to sign a definitive
Purchase and Sale Agreement with Opon to sell a 37.5% non-operated
working interest in, and jointly develop, its Vega Area assets in
the Piceance Basin.  Delta terminated the discussions after Opon
was unable to obtain financing for the transaction on the agreed-
upon terms.  Delta will continue to pursue disciplined development
of its main asset in the Piceance Basin to bolster proved
reserves.  In the Vega Area, Delta is taking a balanced approach
to employing new procedures that are improving completion results
while preserving liquidity.  Delta is also continuing to pursue
strategic alternatives to enhance shareholder value.

Daniel Taylor, Chairman of the Board of Delta Petroleum, said,
"While Opon was unable to arrange financing for a transaction on
terms acceptable to us, we remain confident in the value of our
Vega Area asset, and intend to further delineate that value as we
consider the Company's other strategic alternatives."

                      About Delta Petroleum

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

The Company's balance sheet as of March 31, 2010, showed
$1.384 billion in assets, $699.3 million of liabilities, and
$684.5 million of stockholders' equity.

                          *     *     *

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.


DELTA PETROLEUM: Officers Dispose of Shares to Meet Tax Rule
------------------------------------------------------------
Stanley F. Freedman, Executive Vice President, General Counsel and
Secretary of Delta Petroleum Corp., disposed of 96,182 shares of
the company's common stock at $0.82 a share.  According to his
Form 4 filing with the Securities and Exchange Commission, the
shares were delivered to the Company to satisfy tax liability
obligations related to vesting of restricted stock in accordance
with Rule 16b-3.

Mr. Freedman directly holds 502,345 shares following the
transaction.

Kevin K. Nanke, treasurer and CFO of Delta., disposed of 107,563
shares of the company's common stock at $0.82 a share.  According
to his Form 4 filing with the Securities and Exchange Commission,
the shares were delivered to the Company to satisfy tax liability
obligations related to vesting of restricted stock in accordance
with Rule 16b-3.

Mr. Nanke directly holds 697,796 shares following the transaction.

                      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.


DIVISION PROPERTIES: Case Summary & 14 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Division Properties, LLC
        dba Winslow Glen Apartments
        dba Remington Apartments
        P.O. Box 22546
        Oklahoma City, OK 73123

Bankruptcy Case No.: 10-14203

Chapter 11 Petition Date: July 9, 2010

Court: United States Bankruptcy Court
       Western District of Oklahoma (Oklahoma City)

Judge: Niles L. Jackson

Debtor's Counsel: G. Rudy Hiersche, Jr., Esq.
                  105 North Hudson
                  Hightower Building, Suite 300
                  Oklahoma City, OK 73102
                  Tel: (405) 235-3123
                  E-mail: rudy@hlfokc.com

Scheduled Assets: $11,214,424

Scheduled Debts: $6,932,342

The petition was signed by Lew McGinnis, president of Commencement
Properties Inc.

Debtor's List of 14 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Tenant Security Deposits                         $54,850

Property Insurers                                $32,000
7301 NW Broadway Extension, Suite
Oklahoma City, OK 73116

Corporate Group LLC                              $12,000
P.O. Box 57627
Oklahoma City, OK 73157

City of Oklahoma City                            $8,000

City of Oklahoma City                            $7,500

Macco Properties Inc.                            $6,000

Tiger Inc.                                       $3,500

OG&E                                             $1,950

OG&E                                             $1,000

Waste Management                                 $950

Oklahoma Natural Gas                             $700

Oklahoma Natural Gas                             $500

Cox Communications                               $440

Waste Management                                 $350


DOLLAR THRIFTY: Avis Lenders to Vote on Loan Amendments Today
-------------------------------------------------------------
Lenders of Avis Budget Group Inc. are expected to vote today,
July 14, in favor of an amendment proposed by the rental car
company to increase the capacity of its current credit agreement,
Mergermarket's Matthew Smith reported Monday, citing a source
close to the discussions.

As widely reported, Avis has largely completed its due diligence
on Dollar Thrifty Automotive Group Inc. and is committed to making
a bid for DTAG.

The source told Mergermarket the proposed loan amendment will
allow Avis to raise an additional $1.2 billion specifically for
the purpose of funding a bid for Dollar Thrifty.  The amendment
requires a majority, 51%, of commitments on the existing $1.5
billion senior credit facility to vote in favor of the proposal,
the source said.  JP Morgan, Deutsche, Bank of America, Credit
Agricole Corporate & Investment Bank, Citigroup and Wachovia are
listed on the current agreement, with Citigroup acting as
documentation agent.

Mergermarket's source also said Avis told lenders its bid will be
a leverage neutral transaction based on the acquisition of Dollar
Thrifty's EBITDA.  He added that the banks are likely to vote in
favor of the proposal.

The Troubled Company Reporter on Tuesday reported that people
familiar with the matter told The Wall Street Journal's Gina Chon
and Anupreeta Das that Avis Budget is proceeding with plans to
make an offer for Dollar Thrifty that would top rival Hertz Global
Holdings Inc.'s $1.2 billion bid.  The sources told the Journal
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.  Sources also told the Journal cash will make up
the bulk of Avis' bid.

Hertz's offer is made up of 80% cash and 20% stock.

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.

The Journal noted that, under its agreement with Dollar Thrifty,
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'.


DRAGON PHARMACEUTICAL: Says It Has Sufficient Votes for Merger
--------------------------------------------------------------
Dragon Pharmaceutical Inc. said that based on the receipt of
preliminary proxies, the Company believes that it has sufficient
votes to approve the Agreement and Plan of Merger by and among
Dragon, Chief Respect Limited, Datong Investment Inc., a
subsidiary of Chief Respect Limited, and Mr. Yanlin Han.  The
Merger must be approved by holders of a majority of the
outstanding shares of the Company's voting common stock and a
majority of the votes cast by the minority shareholders of
outstanding shares of the Company's voting common stock excluding
the votes cast by Mr. Han.  If the Merger is approved, Datong
Investment Inc. will merge with and into Dragon and each holder of
Dragon shares of common stock, excluding Mr. Han, will receive
$0.82 per share.

The receipt of preliminary proxies is not an official vote.
Accordingly, shareholders are encouraged to vote prior to or at
the Special Meeting of Shareholders of the Company to be held on
Tuesday, July 20, 2010 at 10:30 a.m., Pacific Time at the
Company's corporate office located at Suite 310, 650 West Georgia
Street, Vancouver, British Columbia, Canada V6B 4N9, at which time
the Company expects to finalize shareholder approval of the
proposed Merger.

The Company on July 8 filed with the Securities and Exchange
Commission Amendment No. 4 to Rule 13e-3 Transaction Statement on
Schedule 13E-3, plus exhibits.  A full-text copy of the document
is available at no charge at http://ResearchArchives.com/t/s?665c

                  About Dragon Pharmaceutical

Headquartered in Vancouver, Canada, Dragon Pharmaceutical Inc.
(TSX: DDD; OTC BB: DRUG) - http://www.dragonpharma.com/- is a
manufacturer and distributor of a broad line of high-quality
antibiotic products including Clavulanic Acid, an API to combine
with Amoxicillin to fight resistance, and 7-ACA, a key
intermediate to produce cephalosporin antibiotics, and formulated
cephalosporin antibiotic drugs.

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

                         *     *     *

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


DOUGLAS MUSE: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: Douglas B. Muse
               Annette M. Muse
               2741 W. Las Encinas Road
               Santa Barbara, CA 93105

Bankruptcy Case No.: 10-13528

Chapter 11 Petition Date: July 9, 2010

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

Judge: Robin Riblet

Debtor's Counsel: Karen L. Grant, Esq.
                  924 Anacapa Street, Suite 1M
                  Santa Barbara, CA 93101
                  Tel: (805) 962-4413
                  Fax: (805) 568-1641
                  E-mail: kgrant@silcom.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
$3,220,456 while debts total $2,275,069.

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/cacb10-13528.pdf

The petition was signed by the Joint Debtors.


DUBAI WORLD: Unit Sells Off Stake in Malaysian Partnership
----------------------------------------------------------
The Associated Press reports that a property arm of struggling
state conglomerate Dubai World is backing out of a plan to build
luxury homes in Malaysia as it looks to shore up its finances.
The AP relates Dubai World's Limitless division is selling off its
stake in a partnership with Malaysia's Bandar Raya Developments to
develop waterfront land in the southern city of Nusajaya.
Limitless will generate about $23.8 million in the deal, according
to a regulatory filing on Malaysia's stock exchange, the AP says.

According to the AP, Limitless said in a statement Sunday that it
continues "to review our business activity to reflect market
conditions."


E*TRADE FIN'L: BlackRock Inc. Stake Down to 0.46% of Shares
-----------------------------------------------------------
BlackRock Inc. disclosed holding 10,207,540 shares or roughly
0.46% of the common stock of E*Trade Financial Corp. as of
June 30, 2010.

As reported by the Troubled Company Reporter on February 8, 2010,
BlackRock disclosed that as of December 31, 2009, it may be deemed
to beneficially own 120,683,427 shares or roughly 6.43% of the
common stock of E*TRADE.

The E*TRADE FINANCIAL (NASDAQ: ETFC) family of companies provides
financial services including trading, investing and related
banking products and services to retail investors.  Securities
products and services are offered by E*TRADE Securities LLC
(Member FINRA/SIPC).  Bank products and services are offered by
E*TRADE Bank, a Federal savings bank, Member FDIC, or its
subsidiaries.

                           *     *     *

At the end of April 2010, DBRS said it has retained E*TRADE's
Issuer & Senior Debt at B (high) and E*TRADE Bank's Deposits &
Senior Debt (the Bank) at BB.

In March 2010, Standard & Poor's Ratings Services raised its long-
term counterparty credit rating on E*TRADE to 'CCC+' from 'CCC'.
At the same time, S&P raised its long-term counterparty credit
rating on its subsidiary, E*TRADE Bank, to 'B' from 'B-'.  The
outlook on both is stable.


ELITECOM INC: Case Summary & 21 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: EliteCom Inc
        3220 S Hill Street
        Los Angeles, CA 90007

Bankruptcy Case No.: 10-38153

Chapter 11 Petition Date: July 9, 2010

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

Judge: Vincent P. Zurzolo

Debtor's Counsel: Robert M. Yaspan, Esq.
                  Law Offices of Robert M Yaspan
                  21700 Oxnard Street, Suite 1750
                  Woodland Hills, CA 91367
                  Tel: (818) 905-7711
                  Fax: (818) 501-7711
                  E-mail: court@yaspanlaw.com

Estimated Assets: $0 to $50,000

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

A copy of the Company's list of 21 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/cacb10-38153.pdf

The petition was signed by Rolf W. Donath, Jr., president.


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

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

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

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

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

The new members and their minimum capital contribution are:

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

                        Treatment of Claims

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

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

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

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

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

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

A full-text copy of the second amended Disclosure Statement is
available for free at:

            http://bankrupt.com/misc/F&FLLC_AmendedDS.pdf

                          About F & F LLC

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


FAIRPOINT COMMS: Vermont Regulator Delays Plan Confirmation
-----------------------------------------------------------
Bill Rochelle at Bloomberg News reports that FairPoint
Communications Inc. was unable to complete the confirmation
hearing last week for lack of a settlement agreement with
regulators in Vermont.  The hearing for approval of the plan was
put off to an unspecified date after Vermont comes to terms.

Mr. Rochelle recounts that the bankruptcy judge held the first
phase of the confirmation hearing in May.  He adjourned the
hearing until there were agreements with regulators in Vermont,
New Hampshire, and Maine.  Although there were settlements in New
Hampshire and Maine, regulators in Vermont rejected the proposal.

A spokeswoman said the Company is exploring its options.

                   About FairPoint Communications

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

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

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


FIRST PHYSICIANS: March 31 Balance Sheet Upside-Down by $10.9MM
---------------------------------------------------------------
First Physicians Capital Group, Inc., filed its quarterly report
on Form 10-Q, reporting a net loss attributable to First
Physicians of $2.7 million on $9.6 million of revenue for the
three months ended March 31, 2010, compared with a net loss
attributable to First Physicians of $1.9 million on $10.2 million
of revenue for the same period of 2009.

The Company's balance sheet at March 31, 2010, showed
$29.9 million in assets, $28.4 million of liabilities, $191,000 of
non-redeemable preferred stock, and $12.2 million of redeemable
preferred stock, for a $10.9 million stockholders' deficit.

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

                   http://researcharchives.com/t/s?6657

                      About First Physicians

Based in Beverly Hills, Calif., First Physicians Capital Group,
Inc. (OTC BB: FPCG) -- http://www.firstphysicianscapitalgroup.com/
-- invests in and provides financial and managerial services to
physicians, physicians groups, and healthcare delivery centers in
non-urban markets in the U.S.


FRANK JODZIO: Taps Procopio Cory as Bankruptcy Counsel
------------------------------------------------------
Frank M. Jodzio has asked for authorization from the U.S.
Bankruptcy Court for the Southern District of California to employ
Procopio, Cory, Hargreaves & Savitch LLP as bankruptcy counsel.

Procopio Cory will, among other things:

     a. aid the Debtor in the development of a plan of
        reorganization under Chapter 11;

     b. file the necessary petitions, pleadings, reports and
        actions which may be required in the continued
        administration of the Debtor's property under
        Chapter 11;

     c. take the necessary actions to enjoin and stay until final
        decree herein continuation of pending proceedings and to
        enjoy and stay until final decree herein commencement of
        lien foreclosure proceedings; and

     d. perform all other legal services for the Debtor which may
        be necessary herein.

Procopio Cory will be paid based on the hourly rates of its
personnel:

        Philip J. Giacinti, Jr.                 $400
        Beverley A. Altman, Paralegal           $160

Philip J. Giacinti, Jr., a partner at Procopio Cory, assures the
Court that the firm is "disinterested" as that term is defined in
Section 101(14) of the Bankruptcy Code.

San Diego, California-based Frank M. Jodzio filed for Chapter 11
bankruptcy protection on July 2, 2010 (Bankr. S.D. Calif. Case No.
10-11788).  Philip J. Giacinti, Jr., Esq., at Procopio Cory
Hargreaves & Savitch, assists the Debtor in his restructuring
effort.  The Debtor listed $10,000,001 to $50,000,000 in assets
and $1,000,001 to $10,000,000 in liabilities.


FRANK JODZIO: Section 341(a) Meeting Scheduled for August 10
------------------------------------------------------------
The U.S. Trustee for Region 15 will convene a meeting of Frank M.
Jodzio's creditors on August 10, 2010, at 3:00 p.m.  The meeting
will be held at the Office of the U.S. Trustee, 402 W. Broadway
(use C Street Entrance), Suite 1360, Hearing Room B, San Diego, CA
92101.

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

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

San Diego, California-based Frank M. Jodzio filed for Chapter 11
bankruptcy protection on July 2, 2010 (Bankr. S.D. Calif. Case No.
10-11788).  Philip J. Giacinti, Jr., Esq., at Procopio Cory
Hargreaves & Savitch, assists the Debtor in his restructuring
effort.  The Debtor listed $10,000,001 to $50,000,000 in assets
and $1,000,001 to $10,000,000 in liabilities.


FX LUXURY: 2nd-Lien Lenders Propose Takeover of CKX Unit
--------------------------------------------------------
Bankruptcy Law360 reports that several second-lien lenders of CKX
Inc. affiliate FX Luxury Las Vegas I LLC have proposed a plan to
take over and reorganize the developer, challenging the Company's
original plan to auction off its property and refinance its first-
lien debt.

First-lien lenders would still get $10 million plus a refinanced
secured note under the plan, for a total recovery estimated at
about $268.1 million, according to a disclosure statement obtained
by Law360.

                          About FX Luxury

New York-based FX Luxury Las Vegas I, LLC, fka Metroflag BP, LLC,
owns approximately 17.72 contiguous acres of real property located
at the southeast corner of Las Vegas Boulevard and Harmon Avenue
in Las Vegas, Nevada, which secures mortgage loans in the
aggregate principal amount of $454 million as of April 21, 2010.
FX Luxury is the remaining Las Vegas subsidiary of FX Real Estate
and Entertainment Inc.

The Company filed for Chapter 11 bankruptcy protection on
April 21, 2010 (Bankr. D. Nev. Case No. 10-17015).  Deanna L.
Forbush, Esq., at Fox Rothschild, LLP, assists the Company in its
restructuring effort as the Company's bankruptcy counsel.
Greenberg Traurig, LLP, is the Company's special counsel.  Sierra
Consulting Group, LLC, is the Company's financial advisor.

The Company disclosed $139,636,791 in assets and $492,568,036 in
debts at the time of the filing.

As reported in the Troubled Company Reporter on May 11, 2010, the
Debtor proposed a liquidating Chapter 11 plan that will return
nothing to unsecured creditors.  As reported in the TCR on June 7,
2010, the Debtor proposed to sell substantially all of its assets,
but the Honorable Bruce A. Markell rejected the Debtor's proposed
sale procedures.  The Debtor's second-lien creditors asked Judge
Markell to appoint a Chapter 11 trustee and terminate the Debtor's
exclusive periods.


GARLOCK SEALING: Seeks to Employ Bates White as Consultant
----------------------------------------------------------
Garlock Sealing Technologies LLC and its units seek the Court's
permission to employ Bates White, LLC, as their consultant.

As the Debtors' consultant, Bates White will render services,
including:

  (a) estimating the number and resolution cost of present
      and future asbestos bodily injury claims;

  (b) rendering expert testimony as required by the Debtors and
      as necessary in their Chapter 11 cases;

  (c) assisting the Debtors in preparing expert testimony or
      reports, and in the evaluation of reports and testimony by
      other experts and consultants; and

  (d) other advisory services as may be requested by the
      Debtors.

The Debtors will pay Bates White's professionals according to
their customary hourly rates:

          Title                    Rate per Hour
          -----                    -------------
          Senior Partner               $850
          Partner                   $625 to $850
          Principal                 $425 to $525
          Manager                   $375 to $395
          Senior Consultant         $325 to $350
          Consultant II             $275 to $295
          Consultant I                 $255
          Project Coordinator          $225
          Project Assistant            $200
          Research Assistant           $160

The Debtors will reimburse Bates White for expenses incurred.

In the 12 months prior to the Petition Date, Bates White received
payments totaling $235,000 for services rendered from the Debtors
or their affiliates, including the payment on May 17, 2010, of a
$50,000 retainer fee from Garlock Sealing Technologies LLC to
secure the payment of fees and expenses.  As of June 4, 2010,
$16,853 of the retainer remained.

Dr. Charles Bates -- charle@bateswhite.com -- a member of Bates
White, discloses that his firm previously or currently provides
consulting services to certain parties in matters unrelated to the
Debtors' Chapter 11 cases, a list of which is available for free
at:

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

Despite these disclosures, Mr. Bates assures the Court that Bates
White is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code.

                      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: Wants Schachter Harris as Asbestos Counsel
-----------------------------------------------------------
Garlock Sealing Technologies LLC and its units seek the Court's
permission to employ Schachter Harris LLP as their special
asbestos defense counsel as of the Petition Date.

Schachter Harris has represented and advised the Debtors in the
defense of hundreds of lawsuits alleging personal injury arising
from asbestos contained in products manufactured or sold by
Garlock Sealing Technologies LLC.

As the Debtors' special asbestos counsel, Schachter Harris will
render services, including assisting the Debtors in developing and
presenting to the Court the Debtors' legal and factual positions
related to the Debtors' defenses and liability for Asbestos
Claims, the estimation of the value of Asbestos Claims, and any
adversary proceeding related to the Asbestos Claims, including any
proceeding seeking injunctive relief or damages as part of the
reorganization sought by the Debtors.

The Debtors will pay Schachter Harris' professionals according to
their customary hourly rates:

          Title                        Rate per Hour
          -----                        -------------
          Partners                      $210 to $300
          Attorneys                     $150 to $300
          Paralegals                      $70 to $90

Schachter Harris' professionals who will render services to the
Debtors are:

   Name                       Title            Rate per Hour
   ----                       -----            -------------
   Raymond P. Harris, Jr.     Partner              $280
   Cary I. Schachter          Partner              $300
   Laurie A. Fay              Partner              $210
   Juan Tomasino              Associate            $190
   Deborah A. Harris          Associate            $190
   Lesley W. Lewis            Associate            $160
   Susan E. Hannagan          Associate            $150
   Lauren Stevenson           Associate            $150
   Susan Ashmore              Counsel              $180

The Debtors will also reimburse Schachter Harris for expenses
incurred.

In the 12-month period before the Petition Date, Schachter Harris
received payments from the Debtors for professional services
rendered for $3,735,164 and expenses for $477,734.  Schachter
Harris is also a beneficiary of a March 4, 2010, trust interest
instrument that was funded to prepay the Debtors' prepetition
obligations to those professionals for services rendered.

The firm's Raymond P. Harris -- rharris@schachterharris.com --
discloses that Schachter Harris has formerly represented or
currently represents these parties in matters unrelated to the
Debtors' Chapter 11 cases:

* EnPro Industries, Inc.
* Coltec Industries Inc.
* Stemco LP
* PACCAR LP
* Continental Insurance Company
* Pacific Insurance
* Granite State Insurance Company
* Hartford Accident & Indemnity
* AIG Technical Services, Inc.
* Insurance Company of the State of Pennsylvania
* Columbus McKinnon Corporation

Blue Cross and Blue Shield also provide health benefit services to
Schachter Harris.

Despite those disclosures, Mr. Harris maintains that Schachter
Harris is a "disinterested person" as the term is defined under
Section 101(14) of the Bankruptcy Code.

                      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)


GARY DEROSE: Voluntary Chapter 11 Case Summary
----------------------------------------------
Joint Debtors: Gary L. DeRose
               Susan C. DeRose
               1611 West 12950 South
               Riverton, UT 84065

Bankruptcy Case No.: 10-29211

Chapter 11 Petition Date: July 9, 2010

Court: United States Bankruptcy Court
       District of Utah (Salt Lake City)

Judge: R. Kimball Mosier

Debtor's Counsel: Andres' Diaz, Esq.
                  1 On 1 Legal Services
                  307 West 200 South, Suite 2004
                  Salt Lake City, UT 84101
                  Tel: (801) 596-1661
                  Fax: (801) 359-6803
                  E-mail: courtmail@adexpresslaw.com

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

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

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

The petition was signed by the Joint Debtors.


GENERAL GROWTH: Files Plan of Reorganization
--------------------------------------------
General Growth Properties, Inc., has filed its proposed Plan of
Reorganization and Disclosure Statement with the United States
Bankruptcy Court for the Southern District of New York.  Under the
terms detailed in the filing, GGP anticipates it will emerge from
Chapter 11 protection in October 2010.

GGP expects to emerge from its financial restructuring with a
significantly improved balance sheet and substantially less debt,
providing it with a strong financial foundation to execute on its
growth strategy going forward.  Since December 2009, GGP has
successfully and consensually restructured approximately
$15 billion in project-level debt.  Under the Plan, GGP will
satisfy its debt and other claims in full, provide a substantial
recovery for shareholders and implement a recapitalization with
$7.0 billion to $8.5 billion of new capital.  At emergence, GGP
will split itself into two separate publicly traded companies, and
current shareholders will receive common stock in both companies.

"The filing of our Plan of Reorganization and Disclosure Statement
is an important milestone in our restructuring process," said Adam
Metz, chief executive officer of GGP.  "We are extremely pleased
with our success in the restructuring to date, and we look forward
to continuing to work productively with all of our stakeholders to
finish building the strong capital structure that will sustain GGP
in the future.  We appreciate the support of our employees,
customers, suppliers, lenders and partners throughout this
process, which has been instrumental in our ability to reach this
important milestone."

Mr. Metz continued, "With our restructured balance sheet and clear
strategic focus, GGP will emerge from Chapter 11 well-positioned
to build on our leadership position in the industry.  The New GGP
will remain the second-largest shopping mall owner and operator in
the country, with more than 180 properties in 43 states, and will
focus on largely stable, income-producing shopping malls and other
real estate assets.  Our management team is committed to creating
compelling experiences for shoppers and strong partnerships with
tenants, which we expect in turn to drive long-term value for our
shareholders.  At the same time, Spinco will hold a diversified
portfolio of properties with little debt and with near-, medium-
and long-term development opportunities, including GGP's master
planned communities segment and a series of mixed-use and mall
development projects in premier locations.  Spinco will be run by
its own separate Board and management team equally committed to
its long-term success.  I am confident that both companies will be
extremely well positioned to succeed."

The Plan is based on investment agreements with affiliates of
Brookfield Asset Management, Fairholme Capital Management and
Pershing Square Capital Management, which have committed to
provide $8.55 billion in capital as follows:

-- $6.3 billion of new equity capital at $10.00 per share of New
   GGP.

-- $250 million backstop equity commitment for a rights offering
   by Spinco at $5.00 per share.

-- $1.5 billion backstop debt commitment for a New GGP credit
   facility by Brookfield, Pershing Square and Fairholme.

-- $500 million backstop equity commitment by Brookfield and
   Pershing Square for a rights offering by New GGP at $10.00 per
    share.

In addition, GGP has executed an agreement with the Teacher
Retirement System of Texas (TRS), a public pension plan, for an
investment of $500 million in shares of New GGP common stock at
$10.25 per share.

These investment agreements also provide GGP with significant
flexibility to optimize its emergence capital structure. Key
features of these agreements provide GGP the option to replace a
portion or all of the capital being provided by Fairholme,
Pershing Square and TRS with the proceeds of equity issuances at
more advantageous pricing.  To determine whether it can utilize
these options, GGP intends to access the public capital markets.
As a result, GGP intends to file a registration statement on Form
S-11 with the Securities and Exchange Commission to raise equity
capital prior to or shortly after emergence from Chapter 11.

The Bankruptcy Court has set the hearing to consider approval of
the Disclosure Statement for August 19, 2010, at 10:00 am EDT.
Following Bankruptcy Court approval of the Disclosure Statement
and related voting solicitation procedures, GGP will solicit
acceptances of the Plan and seek its confirmation by the
Bankruptcy Court.

A PowerPoint presentation summarizing GGP's reorganization process
and its proposed new capital structure is available at:

     http://www.ggp.com/content/Docs/reorganization072010.pdf

UBS Investment Bank and Miller Buckfire & Co. LLC are serving as
financial advisors to General Growth Properties, and Weil, Gotshal
& Manges LLP and Kirkland & Ellis LLP are acting as legal counsel
to the Company.

                     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 GROWTH: Court to Consider More Exclusivity on July 22
-------------------------------------------------------------
Judge Allan Gropper of the U.S. Bankruptcy Court for the Southern
District of New York entered a bridge order on July 9, 2010, in
connection with General Growth Properties, Inc., and its debtor
affiliates' request to extend their exclusive periods under
Section 1121(d) of the Bankruptcy Code.

GGP specifically asked the Court to extend its exclusive periods
to (i) file a Chapter 11 plan to October 18, 2010, and (ii)
solicit acceptances to that plan to December 16, 2010.

In the bridge order, Judge Gropper extended the Debtors' exclusive
period to file a Chapter 11 plan through and including seven days
after the date that an order on the Exclusivity Extension Motion
is entered.  Judge Gropper also extended the Debtors' exclusive
period to solicit acceptances to that plan through and including
67 days after the date that an order on the Exclusivity Extension
Motion is entered.

The extension of the Exclusive Periods is without prejudice to the
relief requested in the Exclusivity Extension Motion, any
objections to the relief requested in the Exclusivity Extension
Motion that may be made by the Debtors or any other party-in-
interest pursuant to Section 1121(d), Judge Gropper ruled.

Judge Gropper will schedule a hearing on the Exclusivity Extension
Motion for July 22, 2010.  Objections are due July 16.

GGP has targeted to file its reorganization plan and accompanying
disclosure statement for its top-level entities -- TopCo -- with
the Court July 9.

As of July 12, 2010, no Chapter 11 plan of GGP, GGP Limited
Partnership, GGPLP LLC, The Rouse Company LP, and a number of
parent holding companies, is available in the Court's public
dockets.

                     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 GROWTH: Hearing on Replacement DIP Financing on July 22
---------------------------------------------------------------
General Growth Properties, Inc., and its debtor affiliates seek
the U.S. Bankruptcy Court for the Southern District of New York's
permission to obtain a $400,000,000 replacement debtor-in-
possession loan from Barclays Bank PLC as initial lender and
administrative agent.

GGP previously sought and obtained the Court's permission to
borrow the $400 million debtor-in-possession loans from a group
of bondholders led by Open Air Investors, L.L.C., backed by
Farallon Capital Management, L.L.C.  Under the Senior Secured DIP
Credit, Security and Guaranty Agreement, the Original DIP Loan
has a variable interest of LIBOR, plus 12%, with a 1.5% LIBOR
floor.  The Original DIP Loan was the best financing available to
GGP at that time, Adam P. Strochak, Esq., at Weil, Gotshal &
Manges LLP, in New York, relates.

GGP's restructuring efforts, Mr. Strochak continues, have
progressed significantly since it entered into the Original DIP
Credit Agreement in May 2009.  Indeed, GGP and REP Investments
LLC, an affiliate of Brookfield Asset Management Inc. entered
into the Cornerstone Investment Agreement whereby, among others,
REP placed $970,507,071 into escrow with Deutsche Bank National
Trust Company as part of its investment in GGP.

"GGP now has the opportunity to borrow $400 million at a fixed
interest rate of 5.5% under a Replacement DIP Credit Agreement
with Barclays," Mr. Strochak tells the Court.  GGP would use the
funds obtained under the Replacement DIP Loan to repay all
obligations under the Original DIP Credit Agreement in full and
for general working capital purposes not otherwise restricted by
the Replacement DIP Credit Agreement, he discloses.

The Replacement DIP Loan affords GGP with the opportunity to
reduce its cost of borrowing significantly while preserving a
substantial number of the terms and conditions for which it
negotiated originally, Mr. Strochak relates.  For one, the 8%
interest rate reduction provided under the Replacement DIP Loan
will save GGP $2.7 million per month in interest payments, thus
preserving value in GGP that would otherwise be lost if GGP did
not repay the Original DIP Loan, he stresses.  The Replacement
DIP Credit Agreement also loosens certain reporting requirements,
"freezes" certain representations and warranties to avoid the
need to update schedules, eases certain investment restrictions,
and does not require a cash sweep of the non-Debtor entity
General Growth Management, Inc., he adds.

The principal amount of the Replacement DIP Loan will become due
and payable in full on the earliest of (i) May 16, 2011; (ii) the
effective date of a plan of reorganization with respect to GGP;
and (iii) the date that the Replacement DIP Loan is accelerated
pursuant to the Replacement DIP Credit Agreement, including,
among others, as a result of a default by GGP.

The Term Loan will bear interest on the unpaid principal amount
thereof from the date made until paid in full in cash at a per
annum rate equal to the lesser of: (i) the Maximum Rate or
(ii) 5.5%.  Upon an Event of Default, the interest rate may
increase by a maximum of 2% and, after the Outside Date, by a
maximum of 3%.  All interest charges on the Obligations will be
computed on the basis of a year of 360 days and actual days
elapsed.

As security for the Replacement DIP Agreement, the Agent and the
Lender will be granted valid, perfected, enforceable, and non-
avoidable security interests, liens, and mortgages in all
Collateral; provided, among others, that that Collateral will not
include:

  (i) the Debtors' claims and causes of action under Chapter 5
      of the Bankruptcy Code and any other avoidance or similar
      action under the Bankruptcy Code or similar state law and
      the proceeds thereof;

(ii) the Capital Stock of any Foreign Subsidiary, other than
      65% in total voting power of that Capital Stock and 100%
      of non-voting Capital Stock, in each case, of a first tier
      Foreign Subsidiary of any Obligor; (iii) any contracts,
      instruments, licenses, license agreements or other
      documents;

(iv) any direct or indirect interest in any Capital Stock of
      any joint venture, partnership or other entity for so long
      as the grant of that security interest or Lien will
      constitute a default;

  (v) any Ground Lease of a Debtor that has been assumed
      pursuant to Section 365 of the Bankruptcy Code if the
      granting of a Lien hereunder would cause a default under
      or allow the termination of that Ground Lease;

(vi) the Gift Card and Lotto Accounts;

(vii) any Real Estate of GGMI; and

(viii) any Shopping Center Properties that are subject to a
       valid, unavoidable, prepetition lien.

The Obligations will constitute an administrative expense under
Section 364(c)(1) of the Bankruptcy Code with priority, subject
to claims of the Adequate Protection Parties under Section 507(b)
and the provisions of the Carve-Out, over all claims or costs or
expenses of administration of the kinds specified in, or ordered
pursuant to, any provision of the Bankruptcy Code and will, at
all times be senior to the rights of the Debtors or any successor
trustee, examiner, or responsible person in these or any
subsequent proceedings under the Bankruptcy Code.

The DIP Liens, the Adequate Protection Liens and the
Superpriority Administrative Claim are subject to the Carve-Out,
which means:

  (a) any unpaid fees due to the U.S. Trustee for Region 2
      pursuant to Section 1930 of Title 28 of the U.S. Code or
      otherwise and any fees due to the Clerk of the Court of
      the United States Bankruptcy Court for the Southern
      District of New York;

  (b) all reasonable fees and expenses incurred by a trustee
      under Section 726(b) of the Bankruptcy Code in an amount
      not exceeding $500,000;

  (c) the reasonable expenses of members of any statutory
      committee;

  (d) to the extent allowed at any time, all unpaid fees and
      expenses allowed by the Bankruptcy Court of professionals
      or professional firms retained pursuant to Section 327 or
      1103 of the Bankruptcy Code through the date of the
      acceleration of the maturity of the Term Loan; and

  (e) after the date of acceleration of the maturity of the Term
      Loan, to the extent allowed at any time, the payment of
      the fees and expenses of Professional Persons in an
      aggregate amount not to exceed $25 million minus the
      amounts.

The Carve-Out excludes any fees and expenses incurred in
connection with (a) any action or inaction that is in
violation of, or a default under, any of the Replacement DIP
Documents or the Replacement DIP Order, or (b) the assertion or
joinder in any claim, counterclaim, action, proceeding,
application, motion, objection, defenses or other contested
matter, the purpose of which is to seek any order, judgment,
determination or similar relief (x) invalidating, setting aside,
avoiding, or subordinating, in whole or in part, (i) the
Obligations, (ii) the DIP Liens, or (iii) any of the Lenders'
rights under the Replacement DIP Documents, or (y) preventing,
hindering, or delaying whether directly or indirectly, the
Agent's or Lenders' assertion or enforcement of the DIP Liens or
realization upon any Collateral.

The Replacement DIP Agreement also contains these additional
terms:

A. Conversion

GGP will have the right to elect to pay on the Plan Date all or
a portion of the sum of (i) the outstanding principal amount of
the Term Loan and (ii) accrued and unpaid interest due and owing
on the Plan Date by issuing to the Lenders common stock of GGP.
In no event will that conversion result in the Lenders' receipt
of Common Stock in connection herewith equaling more than (A)
8.0% of the Common Stock on a Fully-Diluted Basis or (B) 9.9%
of the aggregate amount of the Common Stock actually distributed
in connection with the plan of reorganization on the Plan Date.
Upon consummation of the Cornerstone Investment Agreement, the
Replacement DIP Loan will be deemed to be tendered as part of the
consideration due under the Cornerstone Investment Agreement.

A full-text copy of the Debt-to-Equity Conversion Pact is
available for free at:

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

B. Mandatory Prepayments of Term Loan

The Borrowers will prepay the principal amount of the Term Loan
upon the sale or disposition of certain Collateral or the amount
required under Section 9.4(e) of the Replacement DIP Credit
Agreement with respect to the Loss Proceeds of any Casualty or
Condemnation with respect to any Property of any Debtor.

C. Events of Default

Events of Default under the Replacement DIP Credit Agreement
include, but are not limited to, covenant defaults, payment
defaults, and the occurrence of certain events in the case.

D. Fees

These fees and expenses are payable:

  Exit Fees:              No Exit Fee will be payable pursuant
                          to the Replacement DIP Credit
                          Agreement.

  Commitment Fee          No Commitment Fee will be payable
                          pursuant to the Replacement DIP Credit
                          Agreement.

  Administrative Fees     Each Obligor agrees to pay to the
  and Expenses:           Agent, subject to various
                          qualifications, certain reasonable
                          and documented fees and expenses,
                          including but not limited to: (a) all
                          reasonable and documented fees,
                          expenses, and disbursements of (x)
                          Willkie Farr & Gallagher LLP and (y)
                          any other law firm or counsel, if any,
                          engaged by the Agent, the Lenders or
                          the Brookfield Consortium Members and
                          their Affiliates in connection with
                          the negotiation, preparation and
                          execution of the Loan Documents,
                          including any fees, expenses and
                          disbursements of a Other Counsel in
                          connection with the case, those fees,
                          expenses and disbursements of that
                          Other Counsel not exceeding $500,000
                          in the aggregate; (b) costs and
                          expenses for any amendment,
                          supplement, waiver, consent or
                          subsequent closing in connection with
                          the Loan Documents; (c) taxes, fees
                          and other charges incurred in
                          connection with certain perfection
                          actions, to the extent permitted under
                          the Replacement DIP Credit Agreement;
                          (d) actual, out-of-pocket sums paid or
                          incurred during the existence of an
                          Event of Default to pay any amount or
                          take any action required of any
                          Obligor under the Loan Documents that
                          that Obligor fails to pay or take; (e)
                          costs and expenses of any reasonably
                          necessary actions taken during the
                          existence of an Event of Default aimed
                          at preserving and protecting the
                          Collateral; and (f) costs and expenses
                          of the Lenders in their efforts to
                          realize on the Collateral to the
                          extent permitted under the Replacement
                          DIP Order.

E. Release and Indemnification

The Obligors agree to defend, indemnify, and hold the Agent,
each Lender, and other parties harmless from and against any and
all Indemnified Liabilities.  The Debtors each release and
discharge the Agent, the Lenders from all claims and causes of
action arising out of their relationship with any of the Debtors
in connection with the Replacement DIP Order.

F. Waiver of Automatic Stay

The automatic stay is modified to, among others, permit the
Lenders to implement the provisions of the Replacement DIP Order
and the Replacement DIP Documents.

A full-text copy of the Replacement DIP Credit Agreement is
available for free at:

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

In connection with the execution of the Replacement DIP Credit
Agreement, necessary changes will be made to the Cornerstone
Investment Agreement and related agreements, as well as the Stock
Purchase Agreements entered into with Pershing Square Capital
Management, L.P., and Fairholme Funds, Inc., to effectuate the
implementation of the Replacement DIP Loan, Mr. Strochak says.
He adds that termination of the Cornerstone Investment Agreement
would result in the release from the Escrow of the remaining
balance of funds not previously advanced, but would not trigger
acceleration or any other consequence with respect to the
Replacement DIP Loan.

In a related request, the Debtors ask the Court to shorten the
notice period with respect to the Replacement DIP Motion and
consider the Replacement DIP Motion on July 22, 2010.  Objections
are due July 16.

                     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 GROWTH: Signs Mall Management Deal with Jones Lang
----------------------------------------------------------
General Growth Properties, Inc., entered into a deal for Jones
Lang LaSalle to take over its third-party management business that
operates 18 U.S. malls that GGP does not own, Kris Hudson of The
Wall Street Journal reports.

Mr. Hudson said Jones Lang will take on the 230 employees that
work in the GGP under the deal.

Mr. Hudson related that the malls subject to the deal are owned by
institutional investors.  The properties, cites Mr. Hudson, are
Burbank Town Center in Burbank, California; Festival Bay Mall in
Orlando, Florida; and The Shops at Georgetown Park in Washington,
D.C.

Mr. Hudson noted that neither GGP nor Jones Lang disclosed the
price of the deal; however, the two companies will share profits
from the management contracts based on how well the properties
perform.

                     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 GROWTH: To Get $500-Mil. Infusion from Texas Pension Fund
-----------------------------------------------------------------
General Growth Properties Inc. is set to receive a $500 million
equity investment from a Texas pension fund, a move that should
enable the bankrupt mall owner to sail out of Chapter 11
protection by October, Bankruptcy Law360 reports.

Law360 relates that the Company sought approval for a supplemental
equity investment agreement with the Teacher Retirement System of
Texas in a motion filed Monday.

                       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)


GLASSLINE PARTNERSHIP: Chapter 11 Reorganization Closed
-------------------------------------------------------
The Hon. Wesley W. Steen of the U.S. Bankruptcy Court for the
Southern District of Texas closed the Chapter 11 case of Glassline
Partnership Ltd., effective June 25, 2010.

Houston, Texas-based Glassline Partnership Ltd. filed for Chapter
11 bankruptcy protection on November 2, 2009 (Bankr. S.D. Tex.
Case No. 09-38397).  Matthew Hoffman, Esq., at Law Offices of
Matthew Hoffman, p.c., assists the Company in its restructuring
efforts.  The Company listed $10,000,001 to $50,000,000 in assets
and $1,000,001 to $10,000,000 in liabilities.


GLENWOOD COMMERCIAL: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Glenwood Commercial, LLC
        P.O. Box 9700
        Glenwood Springs, CO 81602

Bankruptcy Case No.: 10-27242

Chapter 11 Petition Date: July 9, 2010

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

Judge: Howard R. Tallman

Debtor's Counsel: Duncan E. Barber, Esq.
                  4582 S. Ulster Street Parkway, Suite 1650
                  Denver, CO 80237
                  Tel: (720) 488-0220
                  Fax: (720) 488-7711
                  E-mail: dbarber@bsblawyers.com

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

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

A copy of the Company's list of 20 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/cob10-27242.pdf

The petition was signed by David W. Hicks, managing member.


GLOBAL CONTAINER: Promises to Repay Creditors in Six Years
----------------------------------------------------------
Global Container Lines Limited filed with the U.S. Bankruptcy
Court for the Eastern District of New York a Disclosure Statement
explaining the proposed Plan of Reorganization.

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 proposes to pay
all administrative, fee and priority claims in full on the
effective date; to pay the NBP secured claim in accordance with
the negotiated terms; and to pay general unsecured claim a
percentage of the Debtor's available cash flow for a period of six
years, together with certain fixed payments.

The payments required under the Plan will be made from the
Debtor's operations and cash flow.

The Debtor is represented by:

     Cullen and Dykman LLP
     Matthew G. Roseman, Esq.
     C. Nathan Dee, Esq.
     100 Quentin Roosevelt Boulevard
     Garden City, NY 11530
     Tel: (516) 357-3700

               About Global Container Lines Limited

Garden City, New York-based Global Container Lines Limited filed
for Chapter 11 bankruptcy protection on November 10, 2009 (Bankr.
E.D. N.Y. Case No. 09-78585).  C. Nathan Dee, Esq., and Matthew G.
Roseman, Esq., at Cullen & Dykman, LLP, 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.


GOOD TIMES: Posts $1.3 Million Net Loss in Q2 Ended March 31
------------------------------------------------------------
Good Times Restaurants Inc. filed its quarterly report on Form
10-Q, reporting a net loss $1,266,000 on $4,883,000 of revenue for
the three months ended March 31, 2010, compared with a net loss of
$511,000 on $5,383,000 of revenue for the same period of 2009.

The Company's balance sheet at March 31, 2010, showed $9,441,000
in assets, $6,618,000 of liabilities, and $2,823,000 of
stockholders' equity.

As reported in the Troubled Company Reporter on January 12, 2010,
Hein & Associates LLP, in Denver, expressed substantial doubt
about Good Times Restaurants, Inc.'s ability to continue as a
going concern after auditing the Company's consolidated financial
statements for the year ended September 30, 2009.  The independent
public accounting firm reported that the Company remains out of
compliance with certain debt covenants, and has suffered recurring
losses from operations.

The Company is in default of certain technical loan covenants on
its note payable to Wells Fargo Bank, N.A..  The Company has never
been in payment default on the note and expects to be able to
remain current on payments in fiscal 2010, depending on its sales
trends and cash flow from operations.  On February 9, 2009, the
Company received a Reservation of Rights letter from the Bank
formally notifying it of the default of the Earnings Before
Interest Taxes and Depreciation ("EBITDA") Coverage Ratio of not
less than 1.5 to 1.0 and the Tangible Net Worth of not less than
$5,000,000 as set forth in the Credit Agreement for the period
ending December 31, 2008.  The letter serves as notice that
notwithstanding the foregoing events of default, the Bank is
reserving all of its rights and remedies under the Credit
Agreement and related agreements.

The Bank is not accelerating the Loan at this time and is
continuing to accept regularly scheduled payments of principal and
interest under the Loan, however the acceptance of payments under
the Loan does not constitute a modification of the Credit
Agreement or a waiver of any of the covenants or of the Bank's
rights or remedies under the Credit Agreement, including the right
to accelerate the loan in the future after the giving of notice.
The Company will continue to work with the Bank on a Required
Corrective Action for compliance with existing or modified loan
covenants.  There can be no assurance that the Bank will agree to
modify or waive any of the loan covenants or waive any of its
rights or remedies under the Credit Agreement and the Company
would require additional financing to repay the loan balance.  The
loan is secured by security agreements in the equipment of four
restaurants.

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

                   http://researcharchives.com/t/s?6654

                         About Good Times

Based in Golden, Colo., Good Times Restaurants Inc. is essentially
a holding company for its wholly owned subsidiary, Good Times
Drive Thru Inc., which is engaged in the business of developing,
owning, operating and franchising hamburger-oriented drive-through
restaurants under the name Good Times Burgers & Frozen Custard.
The Company currently operates and franchises 50 Good Times
restaurants.


GREYSTONE PHARMA: Hearing on Case Dismissal Continued Until Aug. 3
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Tennessee
has continued until August 3, 2010, at 11:00 a.m., the hearing on
the motion to dismiss the Chapter 11 case of Greystone
Pharmaceuticals, Inc., et al., for failure to timely file tax
return.  The hearing will be held at Room 630, Memphis, Tennessee.

As reported in the Troubled Company Reporter on April 14,  the
United States of America, a creditor acting through the Internal
Revenue Service, sought for the dismissal due to the Debtors'
failure to file federal tax returns for 2007, 2008 and 2009.

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


GROVE STREET: Court Extends Filing of Schedules Until July 30
-------------------------------------------------------------
The Hon. Judith H. Wizmur at the U.S. Bankruptcy Court for the
District of New Jersey has extended, at the behest of Grove Street
Realty Urban Renewal, LLC, the deadline for the filing of
schedules of assets and liabilities and statement of financial
affairs to July 30, 2010.

The schedules and statement were previously due on July 15, 2010.
The Debtor is in the process of compiling the information
necessary to complete the Schedules.  The Debtors require
additional time to accurately determine its assets and
liabilities.

Sewell, New Jersey-based Grove Street Realty Urban Renewal, LLC,
owns certain parcels of real property at 370 Grove Street in the
Township of West Deptford, County of Gloucester, State of New
Jersey, commonly known as RiverWinds Cove Apartments.  The land
consists of improvements generally consisting of two buildings
containing in the aggregate approximately 215,832 square feet of
Class A residential apartment space, comprised of approximately
200 units, and having approximately 259 parking spaces.

The Company filed for Chapter 11 bankruptcy protection on July 1,
2010 (Bankr. D.N.J. Case No. 10-30427).  Albert A. Ciardi, III,
Esq., at Ciardi Ciardi & Astin, P.C., assists the Company in its
restructuring effort.  The Company estimated its assets and debts
at $10,000,001 to $50,000,000.


GROVE STREET: Section 341(a) Meeting Scheduled for August 5
-----------------------------------------------------------
The U.S. Trustee for Region 3 will convene a meeting of Grove
Street Realty Urban Renewal, LLC's creditors on August 5, 2010, at
10:00 a.m.  The meeting will be held at Bridge View Building,
Suite 102, 800 Cooper Street, Camden, NJ 08101.

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

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

Sewell, New Jersey-based Grove Street Realty Urban Renewal, LLC,
owns certain parcels of real property at 370 Grove Street in the
Township of West Deptford, County of Gloucester, State of New
Jersey, commonly known as RiverWinds Cove Apartments.  The land
consists of improvements generally consisting of two buildings
containing in the aggregate approximately 215,832 square feet of
Class A residential apartment space, comprised of approximately
200 units, and having approximately 259 parking spaces.

The Company filed for Chapter 11 bankruptcy protection on July 1,
2010 (Bankr. D.N.J. Case No. 10-30427).  Albert A. Ciardi, III,
Esq., at Ciardi Ciardi & Astin, P.C., assists the Company in its
restructuring effort.  The Company estimated its assets and debts
at $10,000,001 to $50,000,000.


GROVE STREET: Taps Ciardi Ciardi as Bankruptcy Counsel
------------------------------------------------------
Grove Street Realty Urban Renewal, L.L.C., has sought permission
from the U.S. Bankruptcy Court for the District of New Jersey to
employ Ciardi Ciardi & Astin as bankruptcy counsel.

Ciardi Ciardi will:

     a. give legal advice with respect to its powers and duties as
        debtor-in-possession;

     b. prepare motions, application, answers, orders, reports and
        other legal papers as necessary; and

     c. perform all other legal services for the Debtor.

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

        Partners                  $425-$545
        Counsel                     $305
        Associates                $200-$350
        Paralegals                $120-$180

Albert A. Ciardi, III, Esq., a member at Ciardi Ciardi, assures
the Court that the firm is "disinterested" as that term is defined
in Section 101(14) of the Bankruptcy Code.

Sewell, New Jersey-based Grove Street Realty Urban Renewal, LLC,
owns certain parcels of real property at 370 Grove Street in the
Township of West Deptford, County of Gloucester, State of New
Jersey, commonly known as RiverWinds Cove Apartments.  The land
consists of improvements generally consisting of two buildings
containing in the aggregate approximately 215,832 square feet of
Class A residential apartment space, comprised of approximately
200 units, and having approximately 259 parking spaces.

The Company filed for Chapter 11 bankruptcy protection on July 1,
2010 (Bankr. D.N.J. Case No. 10-30427).  The Company estimated its
assets and debts at $10,000,001 to $50,000,000.


HARVARD GRAND: Files Schedules of Assets and Liabilities
--------------------------------------------------------
Harvard Grand Investment, Inc., filed with the U.S. Bankruptcy
Court for the Central District of California its schedules of
assets and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $21,500,000
  B. Personal Property            $4,809,114
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $22,576,973
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $250,894
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                          $416,135
                                 -----------      -----------
        TOTAL                    $26,309,114      $23,244,002

Carson, California-based Harvard Grand Investment, Inc., a
California corporation, filed for Chapter 11 bankruptcy protection
on May 28, 2010 (Bankr. C.D. Calif. Case No. 10-31833).  David B.
Golubchik, Esq., at Levene Neale Bender Rankin & Brill LLP,
assists the Company in its restructuring effort.  The Company
estimated its assets and debts at $10,000,001 to $50,000,000.


HARVARD GRAND: Taps Levene Neale to Handle Reorganization Case
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
authorized Harvard Grand Investment, Inc., to employ Levene,
Neale, Bender, Rankin & Brill L.L.P. as bankruptcy counsel.

LNBRB is expected to represent the Debtor in the Chapter 11
proceedings.

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

The firm can be reached at:

     Timothy J. Yoo, Esq.
       E-mail: tjy@lnbrb.com
     David B. Golubchik, Esq.
       E-mail: dbg@lnbrb.com
     Juliet Y. Oh, Esq.
       E-mail: jyo@lnbrb.com
     Levene, Neale, Bender, Rankin & Brill L.L.P.
     10250 Constellation Boulevard, Suite 1700
     Los Angeles, California 90067
     Tel: (310) 229-1234
     Fax: (310) 229-1244

               About Harvard Grand Investment, Inc.

Carson, California-based Harvard Grand Investment, Inc., a
California corporation, filed for Chapter 11 bankruptcy protection
on May 28, 2010 (Bankr. C.D. Calif. Case No. 10-31833).  David B.
Golubchik, Esq., at Levene Neale Bender Rankin & Brill LLP,
assists the Company in its restructuring effort.  The Company
estimated its assets and debts at $10,000,001 to $50,000,000.


HEALTHCARE PROVIDERS: Voluntary Chapter 11 Case Summary
-------------------------------------------------------
Debtor: Healthcare Providers Direct, Inc., a Delaware corporation
        376 96th Street
        Stone Harbor, NJ 08247

Bankruptcy Case No.: 10-31072

Chapter 11 Petition Date: July 9, 2010

Court: U.S. Bankruptcy Court
       District of New Jersey (Camden)

Judge: Gloria M. Burns

Debtor's Counsel: Jeffrey Kurtzman, Esq.
                  Klehr Harrison Harvey Branzbug LLP
                  1835 Market Street, Suite 1400
                  Philadelphia, PA 19103
                  Tel: (215) 569-4493
                  E-mail: jkurtzma@klehr.com

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

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

Debtor-affiliate that filed separate Chapter 11 petition:

                                                     Petition
  Debtor                                 Case No.     Date
  ------                                 --------     ----
Healthcare Providers Direct, Inc.,
a Nevada corporation                   10-31077     7/9/10
  Assets: $100,001 to $500,000
  Debts: $1,000,001 to $10,000,000

The Debtors did not file a list of creditors together with their
petitions.

The petitions were signed by Norman Proulx, president and chief
executive officer.


HERTZ CORP: Avis Lenders to Vote on Loan Amendments Today
---------------------------------------------------------
Lenders of Avis Budget Group Inc. are expected to vote today,
July 14, in favor of an amendment proposed by the rental car
company to increase the capacity of its current credit agreement,
Mergermarket's Matthew Smith reported Monday, citing a source
close to the discussions.

As widely reported, Avis has largely completed its due diligence
on Dollar Thrifty Automotive Group Inc. and is committed to making
a bid for DTAG.

The source told Mergermarket the proposed loan amendment will
allow Avis to raise an additional $1.2 billion specifically for
the purpose of funding a bid for Dollar Thrifty.  The amendment
requires a majority, 51%, of commitments on the existing
$1.5 billion senior credit facility to vote in favor of the
proposal, the source said.  JP Morgan, Deutsche, Bank of America,
Credit Agricole Corporate & Investment Bank, Citigroup and
Wachovia are listed on the current agreement, with Citigroup
acting as documentation agent.

Mergermarket's source also said Avis told lenders its bid will be
a leverage neutral transaction based on the acquisition of Dollar
Thrifty's EBITDA.  He added that the banks are likely to vote in
favor of the proposal.

The Troubled Company Reporter on Tuesday reported that people
familiar with the matter told The Wall Street Journal's Gina Chon
and Anupreeta Das that Avis Budget is proceeding with plans to
make an offer for Dollar Thrifty that would top rival Hertz Global
Holdings Inc.'s $1.2 billion bid.  The sources told the Journal
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.  Sources also told the Journal cash will make up
the bulk of Avis' bid.

Hertz's offer is made up of 80% cash and 20% stock.

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.

The Journal noted that, under its agreement with Dollar Thrifty,
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'.


HIGH SIERRA: Moody's Assigns 'B2' Corporate Family Rating
---------------------------------------------------------
Moody's Investors Service assigned High Sierra Energy, LP, a B2
Corporate Family Rating and a B2 senior secured rating to the
company's proposed $150 million senior secured term loan.  The
proceeds from the senior term loan will be used to refinance its
existing bank facility and other existing debt, to finance at the
closing date the purchase of the remaining equity interests in
Anticline Disposal, LLC not owned currently by HSE, to cash
collateralized letters of credit, and for general corporate
purposes.  The rating outlook is stable.

HSE's B2 Corporate Family Rating reflects the company's relatively
small size and scale and exposure to volume and price risk,
particularly in its gathering and logistics businesses of crude
oil, condensate, natural gas, and natural gas liquids.  Also,
HSE's rating considers the company's liquidity adequate though
limited.

Although somewhat smaller than its peers in terms of scale, HSE
has a fairly high level of business diversification, with exposure
to several midstream segments.  The B2 rating also considers the
company's diversified business profile; its market position;
meaningful level of fee-based cash flows; its supportive General
Partner; and a seasoned management team.  Moreover, the company
benefits from its long relationship with its primary customers.

HSE is a private company and its ratings are restrained by the
company's MLP type business model.  Moody's note that HSE's
General Partner is owned primarily by six major investors most of
which are financial sponsors.  These sponsors have historically
demonstrated equity support for the company.  Moody's estimates
HSE's pro-forma 2010 debt/EBITDA (as adjusted for operating leases
and project financing) at approximately 4.2x.  Moody's note that
one of HSE's subsidiaries, Monroe Gas Storage Company, LLC, has
its own debt obligations financed through a project structure.

HSE liquidity is adequate.  The company's liquidity profile is
constrained by no working capital facility and weak sources of
alternate liquidity since nearly all of HSE's assets are
encumbered by its credit facility.  The liquidity profile is
further restrained by the company's MLP structure, which obligates
the company to pay out all available cash after operating expense,
debt service and maintenance capital spending.

The B2 rating on the proposed senior secured facility reflects a
LGD 3, 44% loss given default assessment after Moody's used its
discretion to override the loss given default model.  The term
loan is rated the same as the Corporate Family Rating, reflecting
its predominance in the capital structure.  Moody's is utilizing
its one notch override discretion of the loss given default
modeling template implied outcome to rate the senior secured
credit facility.

The stable outlook assumes that the company will maintain
relatively conservative financial leverage, with material
acquisitions financed with a meaningful equity component.  A
positive rating action is unlikely over the near-term.  HSE's
ratings could improve through a material increase in size and
scale with a similar business risk profile, combined with low
leverage.  On the other hand, growth into higher risk businesses,
increased leverage (debt/EBITDA greater than 4.5x) or poor
operating performance could negatively impact HSE's ratings.

High Sierra Energy, LP, is a privately held limited partnership
headquartered in Denver, Colorado.


HILL TOP: Section 341(a) Meeting Scheduled for August 2
-------------------------------------------------------
The U.S. Trustee for Region 7 will convene a meeting of Hill Top
Farm, Ltd.'s creditors on August 2, 2010, at 9:30 a.m.  The
meeting will be held at San Antonio Room 333, U.S. Post Office
Building., 615 E. Houston Street, San Antonio, TX 78205.

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

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

San Antonio, Texas-based Hill Top Farm, Ltd., filed for Chapter 11
bankruptcy protection on July 2, 2010 (Bankr. W.D. Tex. Case No.
10-52526).  William B. Kingman, Esq., who has an office in San
Antonio, Texas, assists the Company in its restructuring effort.
The Company listed $10,000,001 to $50,000,000 in assets and
$1,000,001 to $10,000,000 in liabilities.


HONOLULU SYMPHONY: Musicians' Union Rejects Final Contract Offer
----------------------------------------------------------------
Star Advertiser of Honolulu reports that a musicians union
rejected the final contract offer from Honolulu Symphony.  A
person with knowledge of the matter says the Debtor presented the
union with a revised collective bargaining agreement in April.
But the union refused to meet until June 30, and then said it
would accept nothing less than the current $8-million agreement
for two years.

Honolulu Symphony filed for Chapter 11 on Dec. 18, 2009 in its
hometown (Bankr. D. Hawaii Case No. 09-02978), saying assets are
less than $500,000 while debt exceeds $1 million.  The symphony
blamed the filing on a decline in donations which left the
orchestra unable to cover costs, since ticket sales represent only
30% of the budget.  The symphony said it would use Chapter 11 to
reorganize fundraising activities.


IMPERIAL CAPITAL: Has Until September 3 to Propose Chapter 11 Plan
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of California
extended Imperial Capital Bancorp, Inc.'s exclusive periods to
file and solicit acceptances for the the proposed Chapter 11 Plan
until September 3, 2010, and October 31, respectively.

As reported in the Troubled Company Reporter on June 17,  Imperial
Capital sought for and extension in its exclusive periods until
September 16, 2010, and November 13, 2010, respectively.

La Jolla, California-based Imperial Capital Bancorp, Inc., filed
for Chapter 11 bankruptcy protection on December 18, 2009 (Bankr.
S.D. Calif. Case No. 09-19431).  Gregory K. Jones, Esq., at
Stutman, Treister & Glatt, P.C., assists the Company in its
restructuring effort.  The Company listed $10,000,001 to
$50,000,000 in assets and $50,000,001 to $100,000,000 in
liabilities.


INVESTORS FUND II: Involuntary Chapter 11 Case Summary
------------------------------------------------------
Alleged Debtor: Meridian Mortgage Investors Fund II LLC
                1501 4th Avenue, Suite 1900
                Seattle, WA 98101

Bankruptcy Case No.: 10-17976

Involuntary Chapter 11 Petition Date: July 9, 2010

Court: U.S. Bankruptcy Court
       Western District of Washington (Seattle)

Judge: Samuel J. Steiner

Debtor's Counsel: Pro Se

Petitioners' Counsel: Jane E. Pearson, Esq.
                      Foster Pepper PLLC
                      1111 3rd Avenue, Suite 3400
                      Seattle, WA 98101
                      Tel: (206) 447-4400
                      E-mail: pearj@foster.com

Creditor who signed the Chapter 11 petition:

    Petitioners                    Nature of Claim    Claim Amount
    -----------                    ---------------    ------------
Gary Stevens                       Partially Secured      $977,021
4809 Lake Washington Boulevard NE
Kirkland, WA 98033

Robert Staudacher                  Partially Secured      $858,361
10510 NE Norhup Way #130
Kirkland, WA 98033

Joseph Robert Waskom, III          Partially Secured      $283,625
4630 230th Terrace SE
Sammamish, WA 98075


INVESTORS FUND V: Involuntary Chapter 11 Case Summary
-----------------------------------------------------
Alleged Debtor: Meridian Mortgage Investors Fund V, LLC
                1501 4th Avenue, #1900
                Seattle, WA 98101

Bankruptcy Case No.: 10-17952

Involuntary Chapter 11 Petition Date: July 9, 2010

Court: U.S. Bankruptcy Court
       Western District of Washington (Seattle)

Judge: Samuel J. Steiner

Debtor's Counsel: Pro Se

Petitioners' Counsel: John T. Mellen, Esq.
                      Keller Rohrback LLP
                      1201 3rd Avenue, Suite 3200
                      Seattle, WA 98101-3052
                      Tel: (206) 623-1900
                      E-mail: jmellen@kellerrohrback.com

                      Cynthia A. Kuno, Esq.
                      Hanson Baker Ludlow Drumheller PS
                      2229 112th Avenue NE, Suite 200
                      Bellevue, WA 98008
                      Tel: (425) 454-3374
                      E-mail: ckuno@hansonbaker.com

Creditor who signed the Chapter 11 petition:

    Petitioners                     Nature of Claim   Claim Amount
    -----------                     ---------------   ------------
Eric Gullota                        Partially Secured     $350,397
15031 Densmore Avenue North
Seattle, WA 98133

Tacor Properties                    Partially Secured      $53,811
c/o Robert J. Dwinnell, Manager
16520 164th Avenue NE
Woodinville, WA 98072

Drew Thoresen                       Partially Secured      $47,930
10047 Main Street, Suite 419
Bellevue, WA 98004


INVESTORS FUND VIII: Involuntary Chapter 11 Case Summary
--------------------------------------------------------
Alleged Debtor: Meridian Mortgage Investors Fund VIII, LLC
                1501 4th Avenue, Suite 1900
                Seattle, WA 98101

Bankruptcy Case No.: 10-17958

Involuntary Chapter 11 Petition Date: July 9, 2010

Court: U.S. Bankruptcy Court
       Western District of Washington (Seattle)

Judge: Samuel J. Steiner

Debtor's Counsel: Pro Se

Petitioners' Counsel: John T. Mellen, Esq.
                      Keller Rohrback LLP
                      1201 3rd Avenue, Suite 3200
                      Seattle, WA 98101-3052
                      Tel: (206) 623-1900
                      E-mail: jmellen@kellerrohrback.com

                      Cynthia A. Kuno, Esq.
                      Hanson Baker Ludlow Drumheller PS
                      2229 112th Avenue NE, Suite 200
                      Bellevue, WA 98008
                      Tel: (425) 454-3374
                      E-mail: ckuno@hansonbaker.com

Creditor who signed the Chapter 11 petition:

    Petitioners                    Nature of Claim    Claim Amount
    -----------                    ---------------    ------------
Jim and Lisa O'Neal                Partially Secured    $1,000,000
715 2nd Avenue, Suite 1504
Seattle, WA 98104

Kenneth and Loretta Story          Partially Secured      $589,231
17608 NE 15th Place
Bellevue, WA 98008

Tom Friedland                      Partially Secured      $162,527
70 Majestic Heights Drive
Ellensburg, WA 98926

Drew Thoreson                      Partially Secured      $155,585
10047 Main Street, Suite 419
Bellevue, WA 98104


IOWA RENEWABLE: Posts $1.4 Million Net Loss in Q2 Ended March 31
----------------------------------------------------------------
Iowa Renewable Energy, LLC, filed its quarterly report on Form
10-Q, reporting a net loss $1.4 million on $352,142 of revenue for
the three months ended March 31, 2010, compared with a net loss of
$1.3 million on $1.9 million of revenue for the same period of
2009.

The Company does not anticipate speculatively producing biodiesel
in the next 12 months.  The Company has been experiencing
liquidity difficulties since beginning its operations and if these
conditions do not improve, or get worse, during remainder of its
fiscal year 2010, then it will likely have to continue to cease
production of its plant for extended periods of time.

The Company's balance sheet at March 31, 2010, showed
$38.9 million in assets, $28.4 million of liabilities, and
$10.5 million of stockholders' equity.

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

                http://researcharchives.com/t/s?6650

As reported in the Troubled Company Reporter on January 11, 2010,
McGladrey & Pullen, LLP, in Davenport, Iowa, expressed substantial
doubt about Iowa Renewable energy, LLC's ability to continue as a
going concern after auditing the Company's financial statements
for the year ended September 30, 2009.  The independent public
accounting firm reported that the Company has suffered losses from
operations and has experienced significant increases in the input
costs of its products.

"Through March 31, 2010, the Company has generated accumulated
losses of $12,637,432, has experienced significant volatility in
its input costs and undertaken significant borrowings to finance
the construction of the biodiesel plant.  The loan agreements with
the Company's lender currently contains a covenant that requires a
minimum ratio of current assets to current liabilities, minimum
debt coverage and fixed charge coverage ratios.  The Company is
not in compliance with these covenants at March 31, 2010, and it
is projected that the Company will fail to comply with one or more
of the loan covenants throughout fiscal 2010.  Failure to comply
with these loan covenants constitutes an event of default under
the Company's loan agreements which, at the election of the
lender, could result in the acceleration of the unpaid principal
loan balance and accrued interest under the loan agreements or the
loss of the assets securing the loan in the event the lender
elected to foreclose its lien or security interest in such assets.
In addition, the Company's loan agreement allows the lender to
consider the Company in default of the loan at any point for poor
financial performance.  These liquidity issues raise doubt about
whether the Company will continue as a going concern."

                      About Iowa Renewable

Washington, Iowa-based Iowa Renewable Energy, LLC
-- http://www.iowarenewableenergy.com/-- owns a commercial scale,
state-of-the-art biodiesel production facility in Washington,
Iowa.  The multiple feedstock production facility can utilize
soybean oil, other vegetable oils and animal fats to manufacture
approximately 30 million gallons of high quality biodiesel each
year.

Iowa Renewable Energy, LLC, is owned by more than 500 individual
investors.

The Company began producing biodiesel on July 10, 2007.  The plant
was operating at full capacity until the end of September 2007;
with only minor temporary shut downs for maintenance and a
weather-related power outage.  Since the beginning of October
2007, the Company has only been operating to produce biodiesel to
satisfy existing contracts for the sale of its biodiesel and has
not been producing biodiesel for speculation.  During the second
quarter of fiscal year 2010, the Company did not operate.


ISRAEL GAMLIEL: Case Summary & 9 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Israel Gamliel
        25521 Prado de Oro
        Calabasas, CA 91302

Bankruptcy Case No.: 10-18320

Chapter 11 Petition Date: July 9, 2010

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

Judge: Geraldine Mund

Debtor's Counsel: Eric Bensamochan, Esq.
                  16861 Ventura Block, Suite 300
                  Encino, CA 91436
                  Tel: (818) 574-5740
                  Fax: (818) 961-0138
                  E-mail: eric@easy-law.net

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 9 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-18320.pdf

The petition was signed by the Debtor.


ISTAR FINANCIAL: S&P Retains iStar Asset on Select Servicer List
----------------------------------------------------------------
Standard & Poor's Ratings Services stated that iStar Asset
Services Inc. remains on its Select Servicer List as a commercial
mortgage primary servicer and special servicer following the
July 9, 2010 downgrade of iStar Financial Inc. to 'CCC/Negative'
from 'B-/Negative'.  Following the corporate downgrade, S&P
revised its financial position on the servicer to 'Insufficient'
from 'Sufficient'.

S&P's STRONG commercial mortgage primary servicer ranking and
ABOVE AVERAGE commercial mortgage special servicer ranking on iSAS
remain unchanged.  Although the lowered counterparty credit rating
prompted the 'Insufficient' financial position associated with
these rankings, iSAS remains on S&P's Select Servicer List in
accordance with S&P's current criteria.


JAIME GONZALEZ: Section 341(a) Meeting Scheduled for July 26
------------------------------------------------------------
The U.S. Trustee for Region 17 will convene a meeting of and
Gloria Gonzalez's creditors on July 26, 2010, at 12:00 p.m.  The
meeting will be held at the Office of the U.S. Trustee/Oak, Office
of the U.S. Trustee, 1301 Clay Street #690N, Oakland, CA 94612.

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

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

Clayton, California-based Jaime Gonzalez and Gloria Gonzalez filed
for Chapter 11 bankruptcy protection on July 2, 2010 (Bankr. N.D.
Calif. Case No. 10-47600).  Matthew R. Eason, Esq., at Law Offices
of Eason and Tambornini, assists the Debtors in their
restructuring efforts.  The Debtors estimated their assets and
debts at $10,000,001 to $50,000,000.


JAMES RITZ: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Joint Debtors: James Todd Ritz
               Lori Don Ritz
               18399 Carlton Drive
               Edmond, OK 73012

Bankruptcy Case No.: 10-14211

Chapter 11 Petition Date: July 9, 2010

Court: United States Bankruptcy Court
       Western District of Oklahoma (Oklahoma City)

Judge: T.M. Weaver

Debtor's Counsel: Gary D. Hammond, Esq.
                  512 NW 12th Street
                  Oklahoma City, OK 73103
                  Tel: (405) 216-0007
                  Fax: (405) 217-0707
                  E-mail: gary@okatty.com

Scheduled Assets: $604,000

Scheduled Debts: $1,287,901

A list of the Joint Debtors' 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/okwb10-14211.pdf

The petition was signed by the Joint Debtors.


JASON HINDS: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Jason C. Hinds
        103 Capital Lane
        Forest, VA 24551

Bankruptcy Case No.: 10-61973

Chapter 11 Petition Date: July 9, 2010

Court: United States Bankruptcy Court
       Western District of Virginia (Lynchburg)

Judge: William E. Anderson

Debtor's Counsel: Stephen E. Dunn, Esq.
                  201 Enterprise Drive, Suite A
                  Forest, VA 24551
                  Tel: (434) 385-4850
                  Fax: (434) 385-8868
                  E-mail: stephen@stephendunn-pllc.com

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

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

A list of the Debtor's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/vawb10-61973.pdf

The petition was signed by Jason C. Hinds.


KEYSTONE GROUP: Case Summary & 18 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Keystone Group, L.L.C.
        501 S. 13th Street
        Omaha, NE 68102

Bankruptcy Case No.: 10-81969

Chapter 11 Petition Date: July 9, 2010

Court: U.S. Bankruptcy Court
       District of Nebraska (Omaha Office)

Debtor's Counsel: Robert F. Craig, Esq.
                  Robert F. Craig, P.C.
                  1321 Jones Street
                  Omaha, NE 68102
                  Tel: (402) 408-6004
                  Fax: (402) 408-6001
                  E-mail: robert@craiglaw.org

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

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

A copy of the Company's list of 18 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/neb10-81969.pdf

The petition was signed by the Debtor.


KLADEK, INC.: Case Summary & 9 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Kladek, Inc.
          dba King of Diamonds
        6600 River Road
        Inver Grove Heights, MN 55079-2168

Bankruptcy Case No.: 10-35032

Chapter 11 Petition Date: July 9, 2010

Court: U.S. Bankruptcy Court
       District of Minnesota (St Paul)

Judge: Robert J. Kressel

Debtor's Counsel: Kenneth Corey-Edstrom, Esq.
                  Larkin Hoffman Daly & Lingren Ltd
                  1500 Wells Fargo Plaza
                  7900 Xerxes Avenue South
                  Minneapolis, MN 55431
                  Tel: (952) 835-3800
                  Fax: (952) 896-3333
                  E-mail: kcoreyedstrom@larkinhoffman.com

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

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

A copy of the Company's list of 9 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/mnb10-35032.pdf

The petition was signed by Susan Kladek, president.


LAKEVIEW AT CAROLINA: Taps Eric A. Liepins as Bankruptcy Counsel
----------------------------------------------------------------
Lakeview At Carolina Beach, LLC, has asked for authorization from
the U.S. Bankruptcy Court for the Northern District of Texas to
employ Eric A. Liepins, P.C. (the Firm) as bankruptcy counsel.

The Firm will represent the Debtor in its bankruptcy case.

The Firm will be paid based on the hourly rates of its personnel:

     Eric A. Liepins                $250
     Paralegals                    $30-$50
     Legal Assistants              $30-$50

Eric A. Liepins, the sole shareholder at the Firm, assures the
Court that the Firm is a "disinterested person," as that term is
defined in section 101(14) of the Bankruptcy Code, as modified by
section 1107(b) of the Bankruptcy Code.

Dallas, Texas-based Lakeview at Carolina Beach, LLC, filed for
Chapter 11 bankruptcy protection on July 1, 2010 (Bankr. N.D. Tex.
Case No. 10-34542).  Eric A. Liepins, Esq., who has an office in
Dallas, Texas, assists the Company in its restructuring effort.
The Company listed $10,902,000 in assets and $9,486,585 in
liabilities.


LAKEVIEW AT CAROLINA: Sec. 341(a) Meeting Scheduled for August 5
----------------------------------------------------------------
The U.S. Trustee for Region 6 will convene a meeting of Lakeview
at Carolina Beach, LLC's creditors on August 5, 2010, at
10:00 a.m.  The meeting will be held at the Office of the U.S.
Trustee, 1100 Commerce Street, Room 976, Dallas, TX 75242.

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

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

Dallas, Texas-based Lakeview at Carolina Beach, LLC, filed for
Chapter 11 bankruptcy protection on July 1, 2010 (Bankr. N.D. Tex.
Case No. 10-34542).  Eric A. Liepins, Esq., who has an office in
Dallas, Texas, assists the Company in its restructuring effort.
The Company listed $10,902,000 in assets and $9,486,585 in
liabilities.


LJLRA REAL: Case Summary & Largest Unsecured Creditor
-----------------------------------------------------
Debtor: LJLRA Real Estate, LLC
        dba Re-Max Top Performers
        1220 West Chester PIke
        Havertown, PA 19083

Bankruptcy Case No.: 10-15665

Chapter 11 Petition Date: July 11, 2010

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

Judge: Stephen Raslavich

Debtor's Counsel: David H. Lang, Esq.
                  Michael FX Gillin and Assoc PC
                  230 North Monroe Street
                  Media, PA 19063
                  Tel: (610) 565-2211
                  Fax: (610) 565-1846
                  E-mail: dlang@gillinlawoffice.com

Estimated Assets: $0 to $50,000

Estimated Debts: $0 to $50,000

In its list of 20 largest unsecured creditors, the Company placed
only one entry:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
1220 West Chester Pike    Rent Arrears           $8,000
511 Bishop Hollow Road
Newtown Square, PA 19073

The petition was signed by Gina Grantland, managing agent.


M&M REAL: Voluntary Chapter 11 Case Summary
-------------------------------------------
Debtor: M&M Real Estate Holdings, Inc.
        721 Rte. 113
        Souderton, PA 18964

Bankruptcy Case No.: 10-15615

Chapter 11 Petition Date: July 9, 2010

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

Judge: Eric L. Frank

Debtor's Counsel: Jon M. Adelstein, Esq.
                  Penn's Court
                  350 South Main Street, Suite 105
                  Doylestown, PA 18901
                  Tel: (215) 230-4250
                  Fax: (215) 230-4251
                  E-mail: jma@tradenet.net

Estimated Assets: $0 to $50,000

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

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

The petition was signed by Marcia Geraci, president.


MACC PRIVATE: Completes Sale of Significant Portfolio Assets
------------------------------------------------------------
MACC Private Equities Inc. disclosed in a regulatory filing
Wednesday that on July 1, 2010, it completed the sale, in the
ordinary course of business, of 540,551 common shares and 674,309
Series A Preferred shares of Feed Management Systems, Inc.  The
sale resulted in net proceeds of $1,288,285 to the Company.  An
additional $151,007 has been placed into various escrow accounts
to be released to the Company upon the satisfaction of certain
conditions of the sale agreement.  In addition, the Company
received a dividend payment of $126,851 from Feed Management
Systems, Inc.

On July 1, 2010, the Company paid $1,030,628 to Cedar Rapids Bank
& Trust in the form of a principal payment on the outstanding note
payable with the Bank.  The payment was made in accordance with
the terms outlined in the note payable.  Subsequent to the
payment, the balance of the note payable on July 1, 2010, is
$3,384,093.  The result of these transactions provides the Company
additional working capital of $384,508.

                   About MACC Private Equities

Based in Encinitas, Calif., MACC Private Equities Inc. is a
business development company in the business of making investments
in small businesses in the United States.  MACC common stock is
traded on the Nasdaq Capital Market under the symbol "MACC."

The Company's balance sheet at March 31, 2010, showed
$11,292,170 in assets, $4,589,300 of liabilities, and $6,702,870
of net assets.

                          *     *     *

As reported in the Troubled Company Reporter on January 11, 2010,
KPMG, LLP, in San Diego, Calif., expressed substantial doubt about
MACC Private Equities, Inc.'s ability to continue as a going
concern after auditing the Company's financial statements for the
year ended September 30, 2009.  The independent auditing firm
noted that the Company does not have sufficient cash on hand to
meet current obligations.

"MACC has a negative net change in net assets from operations of
$1,106,518 for the six months ended March 31, 2010, and generated
net cash flow from operations of $132,800 to fund our operating
activities and financing requirements for the six months ended
March 31, 2010, and for ongoing operating expenses.  Operating
expenses have been funded primarily from the sale of portfolio
companies, dividends, interest and other distributions from our
portfolio companies and our bank financing."

"We continue to have an ongoing need to raise cash from portfolio
sales to fund our operations and pay down outstanding debt.  Our
efforts to sell certain investments has taken longer than we
initially anticipated while performance of the underlying
portfolio companies in certain cases has deteriorated.  We believe
our ability to liquidate positions had been adversely affected by
credit conditions and the downturn in the financial markets and
the global economy."


MACC PRIVATE: Posts $613,000 Net Loss in Q2 Ended March 31
----------------------------------------------------------
MACC Private Equities Inc. filed its quarterly report on Form
10-Q, reporting a net change in net assets from operations of
$612,986 on $78,775 of revenue for the three months ended
March 31, 2010, compared with a net change in net assets from
operations of $1,388,930 on $81,763 of revenue for the same period
of 2009.

The Company's balance sheet at March 31, 2010, showed $11,292,170
in assets, $4,589,300 of liabilities, and $6,702,870 of net
assets.

As reported in the Troubled Company Reporter on January 11, 2010,
KPMG, LLP, in San Diego, Calif., expressed substantial doubt about
MACC Private Equities, Inc.'s ability to continue as a going
concern after auditing the Company's financial statements for the
year ended September 30, 2009.  The independent auditing firm
noted that the Company does not have sufficient cash on hand to
meet current obligations.

"MACC has a negative net change in net assets from operations of
$1,106,518 for the six months ended March 31, 2010, and generated
net cash flow from operations of $132,800 to fund our operating
activities and financing requirements for the six months ended
March 31, 2010, and for ongoing operating expenses.  Operating
expenses have been funded primarily from the sale of portfolio
companies, dividends, interest and other distributions from our
portfolio companies and our bank financing."

"We continue to have an ongoing need to raise cash from portfolio
sales to fund our operations and pay down outstanding debt.  Our
efforts to sell certain investments has taken longer than we
initially anticipated while performance of the underlying
portfolio companies in certain cases has deteriorated.  We believe
our ability to liquidate positions had been adversely affected by
credit conditions and the downturn in the financial markets and
the global economy."

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

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

Based in Encinitas, Calif., MACC Private Equities Inc. is a
business development company in the business of making investments
in small businesses in the United States.  MACC common stock is
traded on the Nasdaq Capital Market under the symbol "MACC."


MEDICAL STAFFING: Gets Interim OK to Tap Berger as Bankr. Counsel
-----------------------------------------------------------------
Medical Staffing Network Holdings, Inc., et al., sought and
obtained interim authorization from the Hon. Erik P. Kimball of
the U.S. Bankruptcy Court for the Southern District of Florida to
employ Berger Singerman, P.A., as bankruptcy counsel, nunc pro
tunc to the Petition Date.

Berger Singerman will, among other things:

     a. advise the Debtors with respect to their responsibilities
        in complying with the U.S. Trustee's Operating Guidelines
        and Reporting Requirements and with the rules of the
        Court;

     b. prepare motions, pleadings, orders, applications,
        adversary proceedings, and other legal documents necessary
        in the administration of the bankruptcy cases;

     c. protect the interests of the Debtors in matters pending
        before the Court; and

     d. represent the Debtors in negotiations with their creditors
        and in the preparation of a plan.

Berger Singerman will be paid based on the hourly rates of its
personnel:

        Paul Steven Singerman                    $560
        Leslie Gern Cloyd                        $525
        Attorneys                              $260-$595
        Associate Attorneys                    $260-$425
        Legal Assistants & Paralegals          $75-$195

Paul Steven Singerman, Esq., an attorney and shareholder of Berger
Singerman, assures the Court that the firm is a "disinterested
person," as that term is defined in section 101(14) of the
Bankruptcy Code, as modified by section 1107(b) of the Bankruptcy
Code.

The Court has set a final hearing for July 21, 2010, at 9:30 a.m.
on the Debtor's request to employ Berger Singerman as bankruptcy
counsel.

Boca Raton, Florida-based Medical Staffing Network Holdings, Inc.,
provides temporary (predominantly healthcare) staffing services
including per diem, short term contracts and travel, in the United
States.  Warburg Pincus Private equity VIII, L.P., owns a 45.4%
stake in the Company.  The Company filed for Chapter 11 bankruptcy
protection on July 2, 2010 (Bankr. S.D. Fla. Case No. 10-29101).
Paul Steven Singerman, Esq., who has an office in Miami, Florida,
assists the Company in its restructuring effort.  The Company
estimated its assets and debts at $100,000,001 to $500,000,000.

Akerman Senterfitt is the Company's special corporate and
transactional counsel.  Loughlin Meghji + Company is the Company's
corporate restructuring advisor.  Ernst & Young LLP is the
Company's accounting and tax advisor.  Jefferies & Company, Inc.,
is the Company's investment banker.  The Garden City Group Inc. is
the Company's claims and notice agent.


MEDICAL STAFFING: Section 341(a) Meeting Scheduled for August 18
----------------------------------------------------------------
The U.S. Trustee for Region 21 will convene a meeting of Medical
Staffing Network Holdings, Inc.'s creditors on August 18, 2010, at
8:30 a.m.  The meeting will be held at the U.S. Bankruptcy Court
for Southern District of Florida, Flagler Waterview Building, 1515
N. Flagler Drive, Room 870, West Palm Beach, FL 33401.

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

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

Boca Raton, Florida-based Medical Staffing Network Holdings, Inc.,
provides temporary (predominantly healthcare) staffing services
including per diem, short term contracts and travel, in the United
States.  Warburg Pincus Private equity VIII, L.P., owns a 45.4%
stake in the Company.  The Company filed for Chapter 11 bankruptcy
protection on July 2, 2010 (Bankr. S.D. Fla. Case No. 10-29101).
Paul Steven Singerman, Esq., who has an office in Miami, Florida,
assists the Company in its restructuring effort.  The Company
estimated its assets and debts at $100,000,001 to $500,000,000.

Akerman Senterfitt is the Company's special corporate and
transactional counsel.  Loughlin Meghji + Company is the Company's
corporate restructuring advisor.  Ernst & Young LLP is the
Company's accounting and tax advisor.  Jefferies & Company, Inc.,
is the Company's investment banker.  The Garden City Group Inc. is
the Company's claims and notice agent.


MEDICAL STAFFING: Gets Interim OK to Hire Mohsin Meghji as CRO
--------------------------------------------------------------
Medical Staffing Network Holdings, Inc., et al., sought and
obtained interim authorization from the Hon. Erik P. Kimball to
employ Mohsin Y. Meghji as chief restructuring officer and
Loughlin Meghji + Company as corporate restructuring advisor, nunc
pro tunc to the Petition Date.

Mr. Meghji will assist the Debtors in evaluating and implementing
strategic and tactical options through the restructuring process.
LM+Co has agreed to provide certain additional staff to assist the
Debtors in their restructuring efforts.

LM+Co will be paid based on the hourly rates of its personnel:

     Pat Fodale, Managing Director             $625
     Nelson Andrade, Vice President            $450
     Helana Robbins, Senior Associate          $375
     Finley John, Senior Associate             $375
     Jesse Milner, Associate                   $325
     Principal                                 $750
     Managing Director                         $625
     Director                                  $525
     Analyst                                   $275

Mr. Meghji assures the Court that LM+Co is a "disinterested
person," as that term is defined in section 101(14) of the
Bankruptcy Code, as modified by section 1107(b) of the Bankruptcy
Code.

The Court has set a final hearing for July 21, 2010, at 9:30 a.m.
on the Debtors' request to hire Mr. Meghji as chief restructuring
officer.

Boca Raton, Florida-based Medical Staffing Network Holdings, Inc.,
provides temporary (predominantly healthcare) staffing services
including per diem, short term contracts and travel, in the United
States.  Warburg Pincus Private equity VIII, L.P., owns a 45.4%
stake in the Company.  The Company filed for Chapter 11 bankruptcy
protection on July 2, 2010 (Bankr. S.D. Fla. Case No. 10-29101).
Paul Steven Singerman, Esq., who has an office in Miami, Florida,
assists the Company in its restructuring effort.  The Company
estimated its assets and debts at $100,000,001 to $500,000,000.

Akerman Senterfitt is the Company's special corporate and
transactional counsel.  Loughlin Meghji + Company is the Company's
corporate restructuring advisor.  Ernst & Young LLP is the
Company's accounting and tax advisor.  Jefferies & Company, Inc.,
is the Company's investment banker.  The Garden City Group Inc. is
the Company's claims and notice agent.


MEDICAL STAFFING: Gets OK to Hire Garden City as Claims Agent
-------------------------------------------------------------
Medical Staffing Network Holdings, Inc., et al., sought and
obtained authorization from the Hon. Erik P. Kimball of the U.S.
Bankruptcy Court for the Southern District of Florida to employ
The Garden City Group, Inc., as claims, noticing, balloting and
solicitation agent.

GCG will, among other things:

     (a) prepare and serve required notices in these Chapter 11
         cases, whether at the request of the Debtors, the Court
         or the Office of the United States Trustee;

     (b) within five business days after the service of a
         particular notice, prepare for filing with the Clerk's
         Office a certificate or affidavit of service that
         includes (i) a copy of the notice served, (ii) an
         alphabetical list of persons on whom the notice was
         served, along with their addresses, and (iii) the date
         and manner of service;

     (c) maintain copies of all proofs of claim and proofs of
         interest filed in these cases; and

     (d) maintain official claims registers in these cases by
         docketing all proofs of claim and proofs of interest in a
         claims database that includes the following information
         for each claim or interest asserted.

GCG will be compensated for its services based on its bankruptcy
administration agreement with the Debtor.  A copy of the agreement
is available for free at:

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

Karen Shaer, general counsel and executive vice president of GCG,
assures the Court that the firm is a "disinterested person," as
that term is defined in section 101(14) of the Bankruptcy Code, as
modified by section 1107(b) of the Bankruptcy Code.


Boca Raton, Florida-based Medical Staffing Network Holdings, Inc.,
provides temporary (predominantly healthcare) staffing services
including per diem, short term contracts and travel, in the United
States.  Warburg Pincus Private equity VIII, L.P., owns a 45.4%
stake in the Company.  The Company filed for Chapter 11 bankruptcy
protection on July 2, 2010 (Bankr. S.D. Fla. Case No. 10-29101).
Paul Steven Singerman, Esq., who has an office in Miami, Florida,
assists the Company in its restructuring effort.  The Company
estimated its assets and debts at $100,000,001 to $500,000,000.

Akerman Senterfitt is the Company's special corporate and
transactional counsel.  Loughlin Meghji + Company is the Company's
corporate restructuring advisor.  Ernst & Young LLP is the
Company's accounting and tax advisor.  Jefferies & Company, Inc.,
is the Company's investment banker.  The Garden City Group Inc. is
the Company's claims and notice agent.


MESA AIR: Files Chapter 11 Status Report
----------------------------------------
Mesa Air Group, Inc., and its affiliated debtors and debtors in
possession in these bankruptcy cases recently submitted to the
United States Bankruptcy Court of the Southern District of New
York a status report, pursuant to Section 105(d)(1) of Bankruptcy
Code, regarding the administration of significant matters in
their Chapter 11 cases and the operation of their businesses.

The Debtors' operations continue at a very high and safe level,
with minimal impact from the Chapter 11 proceedings, according to
Debra I. Grassgreen, Esq., at Pachulski Stang Ziehl & Jones LLP,
in New York.  The Debtors, she adds, continue to exceed operating
performance goals for each of their code-share partners.

Ms. Grassgreen relates that the Debtors have generated strong
financial results since the Petition Date, generating an
operating income of $6,300,000 from the Petition Date through
May 31, 2010.  For the same period, the Debtors also adjusted
their operating income of $28,700,000 after accounting for idle
aircraft expenses of $22,400,000, Ms. Grassgreen relates.

The Debtors have provided the Official Committee of Unsecured
Creditors with weekly cash flow forecasts, and have consistently
out-performed these projections, Ms. Grassgreen says.

She notes that the Debtors' cash balance of $60,800,000 as of
May 31, 2010, represents a $30,600,000 increase from the Petition
Date balance of $29,200,000.  During this period, the Debtors
have also made principal payments on long-term obligations of
$13,800,000.

As of July 2, 2010, more than 1,300 proofs of claim have been
filed against the Debtors in an aggregate face amount exceeding
$5,300,000, including approximately $121,000,000 in asserted
administrative expense claims, and $1,000,000,000 in asserted
secured claims, according to Ms. Grassgreen.  The Debtors
anticipate beginning to file objections to claims soon.

Of the $336,000 claims asserted against the Debtors' estates as
either reclamation claims or Section 503(b)(9) Claims, Ms.
Grassgreen says the Debtors have resolved (i) $82,242 as valid
reclamation claims, (ii) $68,532 as valid general unsecured
claims, and (iii) $10,990 representing goods that have been
returned to the vendor and not resulting in any claim.

The remainder of the claims were asserted against the Debtors
under Section 503(b)(9) and these will be reconciled through the
claims reconciliation process.

Ms. Grassgreen informs the Court that since the Petition Date,
the Debtors have paid, on account of prepetition claims pursuant
to authority granted under certain "first day" orders in the
Debtors' Chapter 11 cases, a total of (i) $4,596,921 for
Tax/Fuel/Industry Agreements; and (ii) $2,890,719 to critical
vendors, of which $2,679,944 was paid to lienor critical vendors
and $210,775 was paid to non-lienor critical vendors.

Since the Petition Date, the Debtors have rejected two
nonresidential leases and have been actively negotiation with the
counterparties to their remaining Nonresidential Leases.  The
Debtors also continue to analyze the remaining hundreds of non-
aircraft executor contracts and unexpired leases.

The Debtors have also entered into 25 stipulations pursuant to
Section 1110(b) of the Bankruptcy Code that govern their use or
possession of 124 aircraft and 16 aircraft engines.  In addition,
the Debtors have filed eight notices of election to perform under
the terms of certain aircraft-related agreements that govern 34
aircraft and 12 aircraft engines.

Since their entry into the Section 1110(b) Agreements, the
Debtors have either rejected certain of the aircraft leases or
abandoned certain of the owned aircraft governed by these
agreements.

Also, pursuant to the Aircraft Rejection/Abandonment Procedures
approved by the Court on February 23, 2010, the Debtors have (i)
abandoned 20 Beech 1900D aircraft and related equipment owned by
Mesa, and (ii) filed 18 notices of rejection or abandonment with
respect to seven engine leases, 57 aircraft leases, and one owned
aircraft.

As previously reported, the Debtors will no longer operate
aircraft for Delta Air Lines, Inc. beyond August 31, 2010.  As a
result, the Debtors will begin rejecting applicable aircraft
leases, according to Ms. Grassgreen.

After the abandonment of 20 Beech Aircraft, the Debtors entered
into a Court-approved stipulation and agreement with Raytheon
Aircraft Credit Corporation that liquidated the amount of
Raytheon's general unsecured claim that arose upon the
abandonment.  Under the terms of the stipulation, the Debtors,
Raytheon and the Creditors' Committee agreed that Raytheon's
general unsecured claim against the Debtors' estates would be
allowed in the amount of $17,973,795.

The Debtors and their advisors are currently in the process of
negotiating the terms and conditions of the leases that will
govern the postpetition use of aircraft equipment the Debtors
elect to retain, according to Ms. Grassgreen.

With respect to certain code-share agreements and related
litigation, (i) the Debtors and Delta have agreed to dismiss the
Delta Engine Litigation without prejudice, which stipulation the
Arizona District Court approved on June 24, 2010; (ii) Mesa Air
Group and United Airlines, Inc. have entered into a settlement
dismissing with prejudice the United Litigation in the Illinois
District Court; and (iii) the Debtors and US Airways, Inc. are
discussing an extension and restructuring of the code-share
agreement that governs their current relationship.

Furthermore, the Debtors have sold four small training aircraft
pursuant to the De Minimis Asset Sale Procedures.  The Debtors
have also notified the Bankruptcy Court of their intent to
abandon the Del Rio Hotel.  The hotel will be returned to the
prepetition lenders pursuant to a deed in lieu of foreclosure and
in full release and satisfaction of any of Debtor Ritz Hotel
Management Corp.'s obligations and Mesa Air Group's guarantee
obligations to the lenders.

The Debtors and the Creditors' Committee are currently
negotiating the terms of a plan of reorganization, and are
anticipating the filing of a plan and disclosure statement by the
end of July 2010, Ms. Grassgreen says.

                     About Mesa Air Group

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

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

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

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


MESA AIR: Wins Nod of Deals With U.S. Bank & MTTC
-------------------------------------------------
Pursuant to Section 363 of the Bankruptcy Code and Rule 6004 of
the Federal Rules of Bankruptcy Procedure, Mesa Air Group Inc. and
its units received approval from the U.S. Bankruptcy Court for to
enter into:

   (i) Five separate aircraft engine agreements with U.S. Bank
       National Association, as indenture trustee, with respect
       to certain General Electric aircraft engines, model: CF34-
       3B1 and having the manufacturer serial numbers 872137,
       872320, 872143, 872190, and 872242; and

  (ii) An Amendment No. 2 to Trust Indenture and Security
       Agreement and Non-Recourse Promissory Note -- Debt
       Restructuring Agreement -- with Manufacturer and Traders
       Trust Company with respect to Aircraft N570ML and engines
       872244 and 872293, each consistent with the terms and
       conditions set forth in the term sheet dated April 15,
       2010.

The Debtors also seek authority to execute guarantees for the
benefit of U.S. Bank, Canadian Regional Aircraft Finance
Transaction No. 1 Limited, and the relevant owner participants
and owner trustee, as applicable, with respect to each Aircraft
Agreement, unconditionally guaranteeing the obligations in the
Aircraft Agreements.

CRAFT is a loan participant and controlling party with respect to
the financing relating to the rejected leases or leases to be
rejected and the controlling party and beneficiary of the
Debtors' obligations with respect to the Debt Restructuring
Agreement, Debra Grassgreen, Esq., at Pachulski Stang Ziehl &
Jones LLP, in New York, relates.

Since the Petition Date, the Debtors have filed 18 notices of
rejection or abandonment with respect to seven engine leases and
58 aircraft leases.

As part of the Debtors' economization of their fleet, the Debtors
and various aircraft counterparties have engaged in discussions
regarding their ongoing business relationships.  The Debtors have
identified the Engines and Owned Aircraft Equipment as being a
necessary component of their fleet and operations.  The Debtors
and CRAFT have agreed to the terms and conditions, as set forth
in the Term Sheet, which will govern the Debtors' lease of the
Engines and restructured payment obligations with respect to the
Owned Aircraft Equipment, according to Ms. Grassgreen.

A schedule of the parties to the proposed Aircraft Agreements,
the applicable controlling party, and Engines and Owned Aircraft
Equipment governed by the proposed Aircraft Agreements is
available at no charge at:

  http://bankrupt.com/misc/Mesa_PropAircraftAgrParties062310.pdf

According to Ms. Grassgreen, the key terms of the Term Sheet
include:

   (a) The term for each of the Aircraft Agreement extends
       through the earlier of (1) March 31, 2010, and (2) the
       date an Engine or Owned Aircraft Equipment is due for
       certain maintenance.

   (b) Payments will be made monthly-in-advance on the first
       business day of each month.

   (c) The Debtors may terminate any Aircraft Agreement (1) after
       the one-year anniversary of the applicable Aircraft
       Agreements by providing six months' notice of termination
       or (2) in the event the related Engine fails to meet
       certain agreed upon performance specifications.

   (d) During the term of the applicable Aircraft Agreement,
       CRAFT will be permitted, with prior notice to the Debtors,
       to inspect the Engines and all related maintenance
       records, provided that any inspection does not
       unreasonably interfere with the Debtors' operation or
       maintenance of the Engines.

   (e) The Debtors will maintain, at their cost and expense,
       hull, liability and war risk insurance with coverage types
       and amounts as currently required by the rejected leases
       that previously governed the Engines.

   (f) Each Aircraft Agreement will be cross-defaulted to all
       other Aircraft Agreements.

Ms. Grassgreen notes that the return condition requirements under
the Aircraft Lease Agreements for the Engines have been revised
in favor of the Debtors by reducing certain maintenance
requirements.

The terms and conditions under the proposed Debt Restructuring
Agreements are also favorable, according to Ms. Grassgreen.

On the maturity date or on prepayment in certain circumstances,
if (i) Mesa Airlines, Inc., has performed all its payment and
other obligations under the proposed Debt Restructuring Agreement
other than the making of the principal payment otherwise then
due, and (ii) delivers the Owned Aircraft Equipment in accordance
with the applicable condition requirements, the secured party and
CRAFT have agreed to limit their recourse for any other amounts
outstanding to the Owned Aircraft Equipment, Ms. Grassgreen tells
the Court.  This will result in substantial savings upon Mesa
Airlines' performance of the terms of the Debt Restructuring
Agreement, she says.

                        *     *     *

Prior to the Court's entry of an order approving the Agreements,
the Debtors submitted a document seeking the denial of the
objection of the Office of the United States Trustee.

The Debtors' request for authorization to file the Term Sheet,
dated April 15, 2010, under seal, relating to the proposed
aircraft lease agreements and debt restructuring, satisfies the
requirement under Section 107(b)(2) of the Bankruptcy Code, Debra
I. Grassgreen, Esq., at Pachulski Stang Ziehl & Jones LLP, in New
York, maintained.

As with most competitive industries, term sheets in the aircraft
equipment context include a variety of heavily negotiated
business and economic terms, which could include, on a cases-by-
case basis commercial terms such as rental rates, termination and
default events, remedies, insurance, maintenance, and storage
obligations, security deposit or reserve requirements, airframe
and engine return conditions, among others.  It is indisputable
that these terms and conditions contain "commercial information"
because they define the economic parameters of the business
transaction and the consequences upon the occurrence of certain
events, Ms. Grassgreen told the Court.

                     About Mesa Air Group

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

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

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

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


MESA AIR: Wins Nod of Claims Objection/Settlement Protocol
----------------------------------------------------------
In the interest of expediting the process of reconciling more
than 1,300 claims filed against them, as well as more than 4,000
claims scheduled by them, Mesa Air Group, Inc., and its
affiliated debtors in these Chapter 11 cases, sought and obtained
from Judge Martin Glenn of the United States Bankruptcy Court of
the Southern District of New York approval of certain claim
objection and settlement procedures.

The face amount of the claims aggregating more than 1,300 exceeds
$5,300,000,000, including approximately $121,000,000 in asserted
administrative expense claims, and approximately $1,000,000,000
in asserted secured claims, according to Debra Grassgreen, Esq.,
at Pachulski Stang Ziehl & Jones LLP, in New York.

The proposed Procedures will also help reduce the administrative
and financial burden imposed on the Court and the Debtors'
estates, Ms. Grassgreen tells the Court.

As part of the claims review process, the Debtors have identified
certain broad categories of objections they have to a large
number of the Filed Claims.

               Proposed Claim Objection Procedures

Rule 3007(d) of the Federal Rules of Bankruptcy Procedure allows
a debtor to file an omnibus objection on certain grounds.
Moreover, Rule 3007(e) provides that a debtor may file an omnibus
objection on these grounds for up to 100 claims at a time.

The Debtors anticipate that, although they will object to a
number of the Claims on the grounds that the Claims are either
duplicative or have been satisfied, they will also object to many
Claims on additional grounds not set forth in Rule 3007(d).  The
Debtors believe that objecting to multiple Claims in an omnibus
fashion on grounds other than those set forth in Rule 3007(d)
will ease the administrative burden on the Court and the
administrative and financial burden on the Debtors' estates
during the claims reconciliation process.

Accordingly, the Debtors propose that, in addition to the grounds
enumerated in Bankruptcy Rule 3007(d), they and other parties-in-
interest be permitted to file a single objection to no more than
200 claims at a time, seeking reduction, reclassification or
disallowance of Claims on these additional grounds:

   (1) The amount claimed contradicts the Debtors' books and
       records;

   (2) The Claims were incorrectly classified;

   (3) The Claims seek recovery of amounts for which the Debtors
       are not liable;

   (4) The Claims do not include sufficient documentation to
       ascertain the validity of the Claim; and

   (5) The Claims are objectionable under section 502(e)(1) of
       the Bankruptcy Code.

The Debtors will comply with Bankruptcy Rule 3007 in all other
respects, including that each Omnibus Claims Objection will:

   (a) State in a conspicuous place that claimants receiving the
       objection should locate their names and claims in the
       objection;

   (b) List claimants alphabetically, provide a cross-reference
       to claim numbers, and, if appropriate, list claimants by
       category of claims;

   (c) State the grounds of the objection to each Claim and
       provide a cross-reference to the pages in the omnibus
       objection pertinent to the stated grounds;

   (d) State in the title the identity of the objector and the
       grounds for the objections; and

   (e) Be numbered consecutively with other omnibus objections
       filed by the same objector.

To further simplify the claim objection process, the Debtors ask
the Court to establish that responses to the omnibus and specific
claim objections will be due 21 calendar days after service of
the objection, unless that date falls on a Saturday, Sunday or
federal holiday, in which case responses will be due on the first
business day before the applicable Saturday, Sunday, or federal
holiday.

The Debtors also propose that any Debtors' reply be filed on or
before two days before the scheduled hearing on the Omnibus Claim
Objection.

                  Proposed Settlement Procedures

The Debtors anticipate that a large number of objections to the
Claims can be settled for relatively small amounts when compared
to the overall value of the Debtors' estates.  The Debtors
believe it would be more efficient and cost effective for their
estates and creditors if they were authorized to settle certain
Claims.

The Debtors propose these Settlement Procedures:

   (a) The Debtors will be authorized to settle any and all
       Claims asserted against them -- other than Claims which
       may be settled pursuant to the other procedures approved
       by the Court -- without prior approval of the Court or any
       other party-in-interest whenever (1) the aggregate amount
       to be allowed for an individual Claim or the "Settlement
       Amount" is less than or equal to $250,000; or (2) the
       difference between the Settlement Amount compared to
       (i) the amount listed on the Proof of Claim or (ii) the
       amount of the Scheduled Claim does not exceed $250,000
       without regard to any unliquidated amounts asserted by
       a claimant -- De Minimis Settlement.

   (b) If the Settlement Amount or Claim Difference is not a De
       Minimis Settlement Amount but is less than or equal to
       $2,000,000, the Debtors will submit the proposed
       settlement to the Official Committee of Unsecured
       Creditors, together with a Settlement Summary comprising
       (i) the names of the parties with whom the Debtors have
       settled, (ii) the relevant Proofs of  Claim numbers, (iii)
       the types of Claims asserted by each party, (iv) the
       amounts for which the Claims have been settled and (v)
       copies of any proposed settlement agreement or other
       documents supporting the proposed settlement.

   (c) Within seven calendar days of receiving the proposed
       Settlement Summary, or any period of time as otherwise
       agreed to by the Debtors and the Creditors' Committee, the
       Creditors' Committee may submit an objection to the
       proposed settlement reflected in the Settlement Summary.
       However, if the Creditors' Committee requests additional
       information regarding a proposed Settlement, its objection
       period will be suspended until the requested information
       has been provided.

   (d) If there is no timely objection made by the Creditors'
       Committee to the proposed settlement or if the Debtors
       receive written approval from the Creditors' Committee of
       the proposed settlement before the objection deadline,
       then the Debtors may proceed with the settlement.

   (e) If there is a timely objection made by the Creditors'
       Committee, the Debtors may either (1) renegotiate the
       settlement and submit a revised Settlement Summary to the
       Creditors' Committee if the revised settlement is not a De
       Minimis Settlement Amount or (2) file a motion with the
       Court seeking approval of the existing settlement under
       Rule 9019 of the Federal Rules of Bankruptcy Procedure on
       no less than 21 days' notice.

   (f) If the Settlement Amount or Claim Difference is not a De
       Minimis Settlement Amount and is greater than $2,000,000,
       the Debtors will be required to seek the approval of the
       Court by way of a motion pursuant to Bankruptcy Rule 9019
       on no less than 21 days' notice.

   (g) The types of Claims that may be settled pursuant to these
       Settlement Procedures include: (1) secured claims; (2)
       administrative expense claims under Section 503(b) of the
       Bankruptcy Code; (3) priority claims under Section 507(a)
       of the Bankruptcy Code; and (4) general unsecured claims.

   (h) Under the Settlement Procedures, the Debtors may settle
       Claims where some or all of the consideration is being
       provided by a third party or where the Debtors are
       releasing claims against creditors or third parties.


MISSION TOWERS: Case Summary & 19 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Mission Towers Properties I, LLC
        4901 W. 136th St.
        Leawood, KS 66224

Bankruptcy Case No.: 10-12286

Chapter 11 Petition Date: July 9, 2010

Court: United States Bankruptcy Court
       District of Kansas (Wichita)

Judge: Robert E. Nugent

Debtor's Counsel: Edward J. Nazar, Esq.
                  245 North Waco, Suite 402
                  Wichita, KS 67202
                  Tel: (316) 262-8361
                  Fax: (316) 263-0610
                  E-mail: ebn1@redmondnazar.com

Scheduled Assets: $11,211,322

Scheduled Debts: $16,085,073

The petition was signed by Gabriel Murphy, member.

Debtor's List of 19 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Murphy Properties III, L.P.                      $2,600,000
4901 West 136th Street
Kansas City, MO 64138

Sonnenshein Nath & Rosenthal                     $509,186
4520 Main St., Suite 1100
Kansas City, MO 64111

Kansas City Power & Light                        $21,000
P.O. Box 219330
Kansas City, MO 64121

Mitch Murch's                                    $18,337
Maintenance Management

Kansas Gas Service                               $12,597

Jefferson Welles                                 $12,000

City Wide Maintenance                            $10,000
Co., Inc.

Oneok Energy Marketing                           $9,144
Company

Design Mechanical                                $6,195

St. Pauls Travelers                              $5,000

Ameristone                                       $2,977

Deffenbaugh                                      $2,500
Industries, Inc.

AT&T Communications                              $2,000

Schindler Elevator                               $1,929

Windstream                                       $1,639

Goodwind Pro Turf                                $1,081

Sprint                                           $992

Protection One                                   $470

Cintas Corp.                                     $431


MITEK SYSTEMS: Improves Sales in Q2 Ended March 31
--------------------------------------------------
Mitek Systems, Inc., filed its quarterly report on Form 10-Q,
reporting net income of $6,973 on $1,516,965 of revenue for the
three months ended March 31, 2010, compared with a net loss of
$239,911 on $888,283 of revenue for the same period of 2009.

The Company's balance sheet at March 31, 2010, showed
$3,061,252 in assets, $2,296,341 of liabilities, and $764,911 of
stockholders' equity.

"Based on its current operating plan, the Company's existing
working capital may not be sufficient to meet the cash
requirements to fund its planned operating expenses, capital
expenditures, and working capital requirements for the next twelve
months without additional sources of cash and/or the deferral,
reduction or elimination of significant planned expenditures.  The
Company may need to raise significant additional funds to continue
its operations.  Although the Company had positive cash flows
during the three months ended March 31, 2010, in the absence of
continued positive cash flows from operations sufficient to cover
operating expenses, the Company may be dependent on its ability to
secure additional funding through the issuance of debt or equity
instruments.  If adequate funds are not available, the Company may
be forced to significantly curtail its operations or to obtain
funds through entering into additional collaborative agreements or
other arrangements that may be on unfavorable terms, if attainable
at all."

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

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

              http://researcharchives.com/t/s?6652

                       About Mitek Systems

Based in San Diego, Calif., Mitek Systems, Inc. (OTC: MITK.OB)
-- http://www.miteksystems.com/-- develops and markets
intelligent character recognition and document capture products
and services deployed primarily in the financial services markets.
The Company's technology is currently used to process checks by
banks and is used in other markets for specialized applications.

As reported in the Troubled Company Reporter on January 12, 2010,
Mayer Hoffman McCann P.C., in San Diego, Calif., expressed
substantial doubt about Mitek Systems, Inc. ability to continue as
a going concern after auditing the Company's financial statements
for the year ended September 30, 2009.  The independent public
accounting firm reported that the Company has negative working
capital and has incurred recurring operating losses and negative
cash flows from operations.


MULTIPLAN INC: S&P Puts 'B+' Rating on CreditWatch Developing
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it placed its
ratings, including local currency the 'B+' counterparty credit
rating, on New York City-based MultiPlan Inc. on CreditWatch with
developing implications.

MultiPlan announced that it has agreed to be acquired by private-
equity firms BC Partners and Silver Lake as part of a secondary
buyout from its current private-equity owners, The Carlyle Group
and Welsh, Carson, Anderson & Stowe.

"The CreditWatch placement reflects S&P's intention to take rating
action on MultiPlan within the next 30 days, after S&P meet with
the management team and new equity owners to discuss the financial
terms of the transaction," said Standard & Poor's credit analyst
James Sung.

The purchase price is estimated at about $3.1 billion; S&P will
seek other information, such as potential changes to management,
corporate strategy, and financial policy.  Developing implications
mean that S&P may raise, lower, or affirm its ratings on the
company.

S&P's current rating on MultiPlan reflects its leading niche
market position in the U.S. health care cost management industry,
good earnings profile underscored by stable cash flows generated
primarily from fee income, and improved scale and diversification
stemming from its recent acquisition of Viant Holdings Inc.

Somewhat offsetting these strengths are the company's highly
leveraged financial risk profile, large amount of intangibles on
the balance sheet, limited product scope, several key client
concentrations, and integration risks associated with the Viant
acquisition.

The ratings will remain on CreditWatch until S&P has sufficient
information to determine the transaction's likely impact on credit
quality.


NATIONAL ENVELOPE: Creditors Oppose DIP Financing Approval
----------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Neenah Paper Inc., a
creditor, is opposing National Envelope Corp.'s request to obtain
financing for the Chapter 11 cases.

According to the report, Neenah contends that the reorganization
of National Envelope will likely be dismissed after the business
is sold, leaving nothing for suppliers who are supposed to be paid
in full.  Neenah is betting that the business will be sold and the
proceeds turned over to secured lenders, leaving nothing for other
creditors.  Neenah points out that it's owed almost $850,000 for
goods delivered within three weeks of bankruptcy.  For shipments
so close to filing, suppliers are supposed to be paid in full.

Multi-Plastics Inc., owed almost $300,000 for shipments just
before bankruptcy, opposes financing approval for the same reason.

                      About National Envelope

Uniondale, New York-based National Envelope Corporation --
http://www.nationalenvelope.com/-- manufactures envelopes.  It
has 14 manufacturing facilities and 2 distribution centers and
approximately 3,500 employees in the U.S. and Canada.

NEC Holdings Corp., together with affiliates, including National
Envelope Inc., filed for Chapter 11 on June 10, 2010 (Bankr. D.
Del. Lead Case No. 10-11890).  Kara Hammond Coyle, Esq., at Young
Conaway Stargatt & Taylor LLP, serves as bankruptcy counsel.
David S. Heller, Esq., at Josef S. Athanas, Esq., and Stephen R.
Tetro II, Esq., at Latham & Watkins LLP, serve as co-counsel.  The
Garden City Group is the Debtors' claims and notice agent.

NEC Holdings' petition says assets and debts range from
$100,000,001 to $500,000,000.


NEENAH ENTERPRISES: Expects to Emerge From Bankruptcy By Mid-Month
------------------------------------------------------------------
The Post Crescent reports that the U.S. Bankruptcy Court in
Delaware confirmed the plan of reorganization of Neenah Foundry
that paves way for the company to emerge from bankruptcy
protection by mid-month.  The Company expects to close on the
financing and will successfully have reduced debt by about
$270 million.

According to the report, the Company selected Korn Ferry
International as executive recruiting team to pick permanent
successors, and William Barrett to serve as special advisor to the
board and chief executive officer.  Mr. Barret was CEO from 2000
to 2007.

                      About Neenah Enterprises

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

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

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


NEFF CORP: Receives Court Approval of Disclosure Statement
----------------------------------------------------------
Neff Rental, Inc., and certain of its affiliates, a privately
owned equipment rental company, announced that the United States
Bankruptcy Court for the Southern District of New York has
approved Neff's disclosure statement and agreement with certain
creditors holding approximately 67% of the aggregate principal
amount of Neff's first lien term loan, pursuant to which those
creditors have agreed to backstop a new equity investment of up to
$119 million to recapitalize Neff's business and provide for
future capital needs.  The Court's approval of Neff's disclosure
statement authorizes Neff to begin soliciting votes in favor of
the plan from the requisite creditor groups.

"We are pleased that Neff has reached another important milestone
in executing our balance sheet restructuring, putting our company
in a stronger financial position for the future," said Graham
Hood, CEO.

With these developments, Neff remains on track to complete its
financial restructuring and emerge from Chapter 11.  The Court has
scheduled a hearing to consider confirmation of the plan on
September 14, 2010.

Bankruptcy Law360 reports that the Bankruptcy Court has advanced
Neff's plan to restructure itself with help from private equity
firms including Apollo Capital Management, despite unsecured
creditors' vocal contentions that the process is being rushed to
protect directors from legal claims.

                           Amended Plan

BankruptcyData.com reports that Neff Corp. filed with the U.S.
Bankruptcy Court an Amended Joint Plan of Reorganization and
related Disclosure Statement.

According to Bdata, the primary purpose of the Plan is to
effectuate a balance sheet restructuring and deleveraging of the
Debtors' current capital structure.  The restructuring will be
effectuated through the sale of substantially all of the assets,
and a rights offering of up to $119 million in new common units of
the purchaser of the Debtor's assets.  The rights offering will be
fully backstopped by the plan sponsors.  The Debtors have also
entered into a $175 million DIP Facility, allowing them to fund
ongoing business operations and the administrative costs of these
chapter 11 cases.

                          About Neff Corp.

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

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

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


NORTH GENERAL: Court Extends Filing of Schedules By 45 Days
-----------------------------------------------------------
The Hon. Shelley C. Chapman of the U.S. Bankruptcy Court for the
Southern District of New York extended, at the behest of North
General Hospital, et al., the deadline for the filing of their
lists of creditors, schedules of assets and liabilities, statement
of financial affairs, and schedule of executory contracts and
unexpired leases for a total 45 days from the Petition Date.

The Debtors require additional time to bring their books and
records up to date and to collect the data needed for the
preparation and filing of the Schedules and Statements.  To
prepare the Schedules and Statements, the Debtors must compile
information from books, records and documents relating to numerous
creditors and a multitude of transactions.  According to the
Debtors, collection of the necessary information will require an
expenditure of substantial time and effort on the part of the
Debtors' employees in excess of the previous 15-day deadline for
the filing of schedules.

New York-based North General Hospital is a not-for-profit 200-bed
community hospital in upper Manhattan that has serviced the
communities of East and Central Harlem since the 1970s.  The
Hospital filed for Chapter 11 bankruptcy protection on July 2,
2010 (Bankr. S.D.N.Y. Case No. 10-13553).  Charles E. Simpson,
Esq., at Windels, Marx, Lane & Mittendorf, LLP, assists the
Company in its restructuring effort.  The Company listed
$67 million in assets and $293 million in liabilities.

Garfunkel Wild, P.C., is the Company's healthcare counsel.

Alvarez & Marsal is the Company's restructuring consultant.


NORTH GENERAL: Organizational Meeting to Form Panel on July 16
--------------------------------------------------------------
The United States Trustee for Region 2 will hold an organizational
meeting on July 16, 2010, at 11:30 a.m. Eastern Time in the
bankruptcy case of North General Hospital, et al.  The meeting
will be held at LeParker Meridien Hotel, 119 West 56th Street, New
York, NY 10019.

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' cases.

The organizational meeting is not the meeting of creditors
pursuant to Section 341 of the Bankruptcy Code.  A representative
of the Debtor, however, may attend the Organizational Meeting, and
provide background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States
Trustee appoint a committee of unsecured creditors as soon as
practicable.  The Committee ordinarily consists of the persons,
willing to serve, that hold the seven largest unsecured claims
against the debtor of the kinds represented on the committee.
Section 1103 of the Bankruptcy Code provides that the Committee
may consult with the debtor, investigate the debtor and its
business operations and participate in the formulation of a plan
of reorganization.  The Committee may also perform other services
as are in the interests of the unsecured creditors whom it
represents.

New York-based North General Hospital filed for Chapter 11
bankruptcy protection on July 2, 2010 (Bankr. S.D.N.Y. Case No.
10-13553).  Charles E. Simpson, Esq., at Windels, Marx, Lane &
Mittendorf, LLP, assists the Company in its restructuring effort.
The Company listed $67 million in assets and $293 million in
liabilities.


ONYX VENTURES: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Onyx Ventures, LLC
        185 Amboy Road
        Marlboro, NJ 07751

Bankruptcy Case No.: 10-31149

Chapter 11 Petition Date: July 9, 2010

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

Judge: Michael B. Kaplan

Debtor's Counsel: Andrew I. Radmin, Esq.
                  Carkhuff & Radmin
                  598-600 Somerset St.
                  North Plainfield, NJ 07060
                  Tel: (908) 754-9400
                  E-mail: andyradz@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 Keith Barnett, principal shareholder.


OPTI CANADA: FMR, Fidelity Hold 11.376% of Common Stock
-------------------------------------------------------
Fidelity Management & Research Company, a wholly owned subsidiary
of FMR LLC and an investment adviser registered under Section 203
of the Investment Advisers Act of 1940, is the beneficial owner of
32,051,600 shares or 11.376% of OPTI Canada Inc. Common Stock as a
result of acting as investment adviser to various investment
companies registered under Section 8 of the Investment Company Act
of 1940.

Edward C. Johnson 3d and FMR LLC, through its control of Fidelity,
and the funds each has sole power to dispose of the 32,051,600
shares owned by the Funds.

                            About OPTI

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

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

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


PEARLAND SUNRISE: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Pearland Sunrise Lake Village I, LP
          dba SRLVI
        10516 FM 1431 East
        Marble Falls, TX 78654

Bankruptcy Case No.: 10-11926

Chapter 11 Petition Date: July 9, 2010

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

Judge: Craig A. Gargotta

Debtor's Counsel: Frank B. Lyon, Esq.
                  6836 Austin Center Boulevard, Suite 150
                  Austin, TX 78731
                  Tel: (512) 345-8964
                  Fax: (512) 345-4393
                  E-mail: frank@franklyon.com

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

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

The petition was signed by J. Carlew and F. Ausmus, managers of
PSLVI GP, LLC.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                  Petition
  Debtor                               Case No.      Date
  ------                               --------      ----
Pearland Sunrise Lake Village II, LP   10-11925     7/9/10
dba SRLVII
  Assets: $10,000,001 to $50,000,000
  Debts: $10,000,001 to $50,000,000

The Debtors did not file lists of their largest unsecured
creditors when they filed their respective petitions.


PETER RUSSO: Case Summary & 10 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Peter J. Russo
        455 Prospect Avenue
        West Orange, NJ 07052

Bankruptcy Case No.: 10-31130

Chapter 11 Petition Date: July 9, 2010

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

Judge: Rosemary Gambardella

Debtor's Counsel: Joseph J. DiPasquale, Esq.
                  Trenk, DiPasquale, Webster,
                  Della, Fera & Sodono, P.C.
                  347 Mt. Pleasant Avenue, Suite 300
                  West Orange, NJ 07052
                  Tel: (973) 243-8600
                  Fax: (973) 243-8677
                  E-mail: jdipasquale@trenklawfirm.com

Scheduled Assets: $4,135,180

Scheduled Debts: $7,188,283

A list of the Debtor's 10 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/njb10-31130.pdf

The petition was signed by Mr. Russo.


POLAROID CORP: 8th Circ. Dismisses Appeal Of $87M Asset Sale
------------------------------------------------------------
Bankruptcy Law360 that a federal appeals court has tossed out a
plea by Polaroid Corp.'s largest creditor to reconsider the
company's $87 million asset sale, which caused the creditor to
lose some of the nearly $300 in liens it holds on the property.

Law360 says the U.S. Court of Appeals for the Eighth Circuit on
Friday dismissed the appeal filed by Asset Based Resource Group
LLC.

Polaroid Corporation -- http://www.polaroid.com/-- makes and
sells films, cameras, and other imaging products.  Polaroid
filed for chapter 11 protection on Oct. 12, 2001 (Bankr. D.
Del. Case No. 01-10864) and again on Dec. 18, 2008 (Bankr. D.
Minn. Case No. 08-46617).  PLR Acquistion LLC, a joint venture
composed of Hilco Consumer Capital L.P. and Gordon Brothers
Brands LLC, acquired most of Polaroid's assets -- including
the Polaroid brand and trademarks -- in May 2009.  They paid $87.6
million for the brand.  Debtor Polaroid Corp. was renamed to PBE
Corp. following the sale.  The case was converted to Chapter 7 on
Aug. 31, 2009, and John R. Stoebner serves as the Chapter 7
Trustee.


PPA HOLDINGS: Investors Want Reorganization for Unabandoned Units
-----------------------------------------------------------------
The individual investor creditors of PPA Holdings, LLC, at al.,
filed with the U.S. Bankruptcy Court for the Central District of
California a Plan of Reorganization for the Debtors.

The Plan only proposes reorganization with respect to those
properties that have not been abandoned by the Chapter 11 trustee;
and had relief from the stay granted.

The creditors 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 attempts to reduce
the principal amounts owed to the first lien holders on the
properties to fair market value, which is calculated based on
rental income and expenses, which is what any prospective buyer
would use to come up with a fair purchase price for the
properties.

A full-text copy of the creditors' Plan is available for free
at http://bankrupt.com/misc/PPAHoldings_Creditors'Plan.pdf

The individual investor creditors are represented by VanderSchuit
Law Group. A.P.C.

                      About PPA Holdings LLC

Irvine, California-based PPA Holdings LLC and its affiliates
collectively owned and managed 47 multi-family apartment
complexes, consisting of 2,398 individual apartment units, three
office/commercial buildings, and a condominium unit.

The Company and its affiliates filed for Chapter 11 on June 26,
2009 (Bankr. C.D. Calif. Lead Case No. 09-16353).  Nanette D.
Sanders, Esq., and Todd C. Ringstad, Esq., at Ringstand & Sanders
LLP, represent the Debtors in their restructuring efforts.
Richard W. Esterkin, Esq., at Morgan Lewis & Bockius LLP,
represents the official committee of unsecured creditors as
counsel.  The Debtors listed $10 million.


R. ESMERIAN: Wants Case Converted to Chapter 11
-----------------------------------------------
Steven Church at Bloomberg News reports that Jeweler Ralph O.
Esmerian is asking the bankruptcy court to convert the bankruptcy
case of his New York-based company R. Esmerian Inc. to Chapter 11
reorganization.  Mr. Esmerian is fighting an effort by creditors
to liquidate the Company in U.S. Bankruptcy Court in Manhattan.

"Its continued operation is critical to maximizing the value of
its assets and the recovery to its creditors," Mr. Esmerian said
in court papers.  He also asked U.S. Bankruptcy Judge Robert D.
Drain to appoint an examiner to oversee the bankruptcy case.

Mr. Esmerian and his company R. Esmerian Inc. were hit with
involuntary Chapter 7 petitions (Bankr. S.D.N.Y. Case Nos.
10-12721 and 10-12719) by creditors alleging they are owed
$40 million.   Stewardship Credit Arbitage Fund LLC, Stewardship
Credit Arbitage Fund Ltd. and Northlight Fund LP claim to be owed
$40 million in total and related that the debt stems from a $25
million loan made in December 2006 to R. Esmerian Inc. from Acorn
Capital Group LLC.  The funding was eventually increased to $40
million and assigned as promissory notes to the three creditors,
who now say they're owed interest and other fees, in addition to
the principal.

Ralph Esmerian owned liquidated antique jewelry retailer Fred
Leighton LLC.  Mr. Esmerian was the one who ushered Fred
Leighton into Chapter 11 in 2008, seeking to dodge an attempt by
Christie's to put a $75 million collection of jewels on the
auction block, at the request of lender Merrill Lynch.  The
jeweler eventually sold some of its assets to a group led by
Madison Avenue jeweler Kwiat -- but Esmerian couldn't prevent the
Christie's sale entirely.  A 2009 Christie's auction of select
Fred Leighton jewels brought in $15.3 million to the estate.


RECTICEL NORTH AMERICA: Court Closes Reorganization Case
--------------------------------------------------------
The Hon. Phillip J. Shefferly of the U.S. Bankruptcy Court for the
Eastern District of Michigan issued a final decree closing the
Chapter 11 cases of Recticel North America, Inc., and Recticel
Interiors North America, LLC, effective June 25, 2010.

Recticel North America Inc. and affiliate Recticel Interiors North
America LLC won approval of their reorganization plan when the
bankruptcy judge signed a confirmation order on April 9.

All creditors are expected to recover 100% recovery on their
claims pursuant to the plan.  However, general unsecured creditors
of Recticel N.A. and Recticel Interiors N.A. are still considered
as impaired voted on the Plan because they would not
receive any interest on their claims.  Secured claims would
receive "payment in full in cash, delivery of the respective
secured creditor's collateral, or other treatment that renders the
claim unimpaired," all priority and unsecured claims would be paid
in full in cash, and intercompany loans and equity interests would
be retained.

Brussels-based Recticel SA (NYSE Euronext: REC) --
http://www.recticel.com/-- makes and sells foam filling for
automobiles.

Two units of Recticel -- Recticel North America, Inc., and
Recticel Interiors North America, LLC -- filed for Chapter 11 on
Oct. 29, 2009 (Bankr. E.D. Mich. Case No. 09-73411).

RINA makes and sell interior trim for cars in the United States
and RUNA operates in the manufacture of Colo-fast light-stable
polyurethane compounds, which are used by RINA.  RINA and RUNA
have 250 employees.

Together, the Auburn Hills, Michigan-based companies reported
revenue of $69.6 million in 2008 and $28.3 million for the first
nine months of 2009. Combined assets are $13.9 million, with
combined debt totaling $105.9 million.

The case is In re Recticel North America Inc., 09-73411,
U.S. Bankruptcy Court, Eastern District Michigan (Detroit).


REDDY ICE: Corp. Counsel Fernandez Discloses Equity Stake
---------------------------------------------------------
Kenneth Charles Fernandez, vice-president and corporate counsel of
Reddy Ice Holdings Inc., disclosed holding 2,000 shares of common
stock.  The shares represent a grant of restricted shares of the
Company's common stock, which will vest in three equal portions on
January 1, 2011, 2012 and 2013.  Unvested resticted shares are
subject to forfeiture if Mr. Fernandez terminates his employment
with the Company, subject to certain exceptions.

Mr. Fernandez also disclosed holding options to buy up to 4,000
common shares.  The option vests in three equal installments on
January 1, 2011, 2012 and 2013.  Unvested options are subject to
forfeiture if Mr. Fernandez terminates his employment with the
Company, subject to certain exceptions.

                           About Reddy Ice

Reddy Ice Holdings, Inc. -- http://www.reddyice.com/--
manufactures and distributes packaged ice in the United States.
The company serves variety of customers in 31 states and the
District of Columbia under the Reddy Ice brand name.

As of March 31, 2010, the Company had total assets of $481,611,000
against total current liabilities of $26,506,000, long-term
obligations of $450,605,000, and deferred taxes and other
liabilities, net of $17,957,000, resulting in stockholders'
deficit of $13,457,000.

                          *     *     *

According to the Troubled Company Reporter on Feb. 23, 2010,
Moody's Investors Service assigned a B1 rating to Reddy Ice
Corporation's (a wholly owned subsidiary of Reddy Ice Holdings,
Inc.) proposed $300 million first lien senior secured notes due
2015.  The company plans to use proceeds from the first lien notes
to refinance its existing $240 million senior secured term loan
due 2012 and for general corporate purposes.

As reported by the TCR on March 30, 2010, Standard & Poor's
Ratings Services raised its corporate credit rating on Reddy Ice
Holdings Inc. to 'B-' from 'SD', and its wholly owned operating
company, Reddy Ice Corp., to 'B-' from 'CC'.  Following the
transaction, S&P withdrew the corporate credit rating on Opco.
S&P also raised its ratings on Holdings' remaining senior discount
notes (not exchanged) to 'CCC' from 'D'.  The recovery rating on
this debt remains unchanged at '6'.


REDDY ICE: Vending & Leasing Head Discloses Equity Stake
--------------------------------------------------------
Richard David Wach, EVP - Vending & Leasing at Reddy Ice Holdings,
Inc., disclosed in a Form 3/A filing with the Securities and
Exchange Commission that he holds 100,000 company shares.

He disclosed acquiring 15,000 shares on July 6, 2010, raising his
stake to 115,000 shares.  The 15,000 shares represent a grant of
restricted shares of the Company's common stock, which will vest
in three equal portions on January 1, 2011, 2012 and 2013.
Unvested restricted shares are subject to forfeiture if Mr. Wach
terminates his employment with the Company, subject to certain
exceptions.

He also acquired options to buy 35,000 company shares.  The option
vests in three equal installments on January 1, 2011, 2012 and
2013.  Unvested options are subject to forfeiture if Mr. Wach
terminates his employment with the Company, subject to certain
exceptions.

                           About Reddy Ice

Reddy Ice Holdings, Inc. -- http://www.reddyice.com/--
manufactures and distributes packaged ice in the United States.
The company serves variety of customers in 31 states and the
District of Columbia under the Reddy Ice brand name.

As of March 31, 2010, the Company had total assets of $481,611,000
against total current liabilities of $26,506,000, long-term
obligations of $450,605,000, and deferred taxes and other
liabilities, net of $17,957,000, resulting in stockholders'
deficit of $13,457,000.

                          *     *     *

According to the Troubled Company Reporter on Feb. 23, 2010,
Moody's Investors Service assigned a B1 rating to Reddy Ice
Corporation's (a wholly owned subsidiary of Reddy Ice Holdings,
Inc.) proposed $300 million first lien senior secured notes due
2015.  The company plans to use proceeds from the first lien notes
to refinance its existing $240 million senior secured term loan
due 2012 and for general corporate purposes.

As reported by the TCR on March 30, 2010, Standard & Poor's
Ratings Services raised its corporate credit rating on Reddy Ice
Holdings Inc. to 'B-' from 'SD', and its wholly owned operating
company, Reddy Ice Corp., to 'B-' from 'CC'.  Following the
transaction, S&P withdrew the corporate credit rating on Opco.
S&P also raised its ratings on Holdings' remaining senior discount
notes (not exchanged) to 'CCC' from 'D'.  The recovery rating on
this debt remains unchanged at '6'.


REMINGTON PROFESSIONAL: Case Summary & 11 Largest Unsec. Creditors
------------------------------------------------------------------
Debtor: Remington Professional Buildings, LLC
        308 Craghead Street, No. 211
        Danville, VA 24541

Bankruptcy Case No.: 10-61971

Chapter 11 Petition Date: July 9, 2010

Court: United States Bankruptcy Court
       Western District of Virginia (Lynchburg)

Judge: William E. Anderson

Debtor's Counsel: Andrew S Goldstein, Esq.
                  Magee Goldstein Lasky & Sayers, P.C.
                  P.O. Box 404
                  Roanoke, VA 24003
                  Tel: (540) 343-9800
                  E-mail: agoldstein@mglspc.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 11 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/vawb10-61971.pdf

The petition was signed by James R.Cheatham, managing member.


ROTHSTEIN ROSENFELDT: E-Mails Portray Desperation for Cash
----------------------------------------------------------
Amy Sherman at Miami Herald reported that e-mails by Scott
Rothstein show that his firm was struggling for cash as its owners
were spending lavishly -- and that firm president Stuart
Rosenfeldt was aware of it.  Rothstein sent a series of scathing
e-mails to lawyers -- including firm president Stuart Rosenfeldt
-- demanding that they earn more.  The e-mails cast doubt on Mr.
Rosenfeldt's claims that he was in the dark about firm finances.
They also show Mr. Rothstein's increasing desperation about cash
while his $1.2 billion Ponzi scheme was under way.

                    About Rothstein Rosenfeldt

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

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

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

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


SALINAS INVESTMENTS: Section 341(a) Meeting Scheduled for August 2
------------------------------------------------------------------
The U.S. Trustee for Region 7 will convene a meeting of Salinas
Investments, Ltd's creditors on August 2, 2010, at 8:30 a.m.  The
meeting will be held at San Antonio Room 333, U.S. Post Office
Bldg., 615 E. Houston Street, San Antonio, TX 78205.

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

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

San Antonio, Texas-based Salinas Investments, Ltd, filed for
Chapter 11 bankruptcy protection on July 2, 2010 (Bankr. W.D. Tex.
Case No. 10-52525).  William B. Kingman, Esq., who has an office
in San Antonio, Texas, assists the Company in its restructuring
effort.  The Company listed $10,000,001 to $50,000,000 in assets
and $1,000,001 to $10,000,000 in liabilities.


SAMUEL TORRACO: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Samuel Anthony Torraco
        1551 N. Flagler Drive, Apartment 1008
        West Palm Beach, FL 33401

Bankruptcy Case No.: 10-29527

Chapter 11 Petition Date: July 9, 2010

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

Judge: Paul G. Hyman, Jr.

Debtor's Counsel: David L. Merrill, Esq.
                  7777 Glades Road, #400
                  Boca Raton, FL 33434
                  Tel: (561) 477-7800
                  E-mail: dlmerrill@sbwlawfirm.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
$822,452 while debts total $2,093,964.

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/flsb10-29527.pdf

The petition was signed by the Debtor.


SCHOONOVER ELECTRIC: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Schoonover Electric Company, Inc.
        P.O. Box 1181
        Mountainside, NJ 07092

Bankruptcy Case No.: 10-31136

Chapter 11 Petition Date: July 9, 2010

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

Judge: Rosemary Gambardella

Debtor's Counsel: Leonard C. Walczyk, Esq.
                  Wasserman, Jurista & Stolz
                  225 Millburn Ave., Suite 207
                  P.O. Box 1029
                  Millburn, NJ 07041-1712
                  Tel: (973) 467-2700
                  E-mail: lwalczyk@wjslaw.com

Scheduled Assets: $1,434,779

Scheduled Debts: $1,417,146

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/njb10-31136.pdf

The petition was signed by James Pignatello, president.


SEA LAUNCH: Inks Agreement with Asia Satellie Telecomms
-------------------------------------------------------
SatNews.com reports that Sea Launch reached an agreement with Asia
Satellite Telecommunications Company Limited for launched of an
AsiaSat satellite to geosynchronous transfer orbit on the Sea
Launch's Zeniti-3SL system.  The launch will take place between
2012 and 2014.

                         About Sea Launch

Sea Launch Company, L.L.C., is a satellite-launch services
provider that offers commercial space launch capabilities from the
Baikonur Space Center in Kazakhstan.  Its owners include Boeing
Co., RSC Energia, and Aker ASA.

Sea Launch filed for Chapter 11 on June 22, 2009 (Bankr. D. Del.
Case No. 09-12153).  Joel A. Waite, Esq., and Kenneth J. Enos,
Esq., at Young, Conaway, Stargatt & Taylor LLP, in Wilmington,
Delaware, serve as the Debtor's counsel.  At the time of the
filing, the Company said its assets range from US$100 million to
US$500 million and debts are at least US$1 billion.


SEIDEL ENTERPRISES: Pa. Court Rejects Chapter 11 Petition
---------------------------------------------------------
Editor & Publisher reports that the U.S. Bankruptcy Court for the
Eastern District of Pennsylvania rejected the Chapter 11 petition
of Seidel Enterprises Inc. and ordered the Company to pay $650 in
fees.

The U.S. Trustee Roberta A. DeAngelis stated that the case had
been pending for more than six months and the debtor has failed to
file and obtain approval of a disclosure statement and
confirmation of a plan of reorganization.  The U.S. Trustee also
said the Company failed to stay current with the required filing
of monthly operating repots and with its postpetition financial
obligations.

Seidel Enterprises Inc. filed for Chapter 11 bankruptcy protection
in November 2009.


SINOENERGY CORP: Posts $1.6 Million Net Loss in Q2 Ended March 31
-----------------------------------------------------------------
Sinoenergy Corporation filed its quarterly report on Form 10-Q,
reporting a net loss attributable to common shareholders of
$1.6 million on $9.0 million of revenue for the three months ended
March 31, 2010, compared with a net loss of $2.8 million on
$7.0 million of revenue for the same period of 2009.

The Company's balance sheet at March 31, 2010, showed
$209.8 million in assets, $152.8 million of liabilities, and
$57.0 million of stockholders' equity.

As reported in the Troubled Company Reporter on January 12, 2010,
Crowe Horwath LLP, in Sherman Oaks, Calif., expressed substantial
doubt about Sinoenergy Corporation and subsidiaries' ability to
continue as a going concern after auditing the Company's
consolidated financial statements for the year ended September 30,
2009.  The independent public accounting firm reported that the
Company has incurred a significant loss and negative operating
cash flows for the year ended September 30, 2009, and as of
September 30, 2009, there is negative working capital of
$9.1 million.

The Company incurred substantial losses during the six months
ended March 31, 2010, and continues to incur losses.  The Company
is also liable for substantial repayment of bank notes and
convertible senior notes and well as advance of $20.2 million from
related parties.  "These factors, among others, may indicate that
we will be unable to continue as a going concern for reasonable
period of time."

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

                  http://researcharchives.com/t/s?6655

                      About Sinoenergy Corp.

Based in Beijing, China, Sinoenergy Corporation (Nasdaq: SNEN)
-- http://www.sinoenergycorporation.com/-- is a developer and
operator of retail compressed natural gas (CNG) stations as well
as a manufacturer of CNG transport truck trailers, CNG station
equipment, and natural gas fuel conversion kits for automobiles,
in China.  In addition to its CNG related products and services,
the Company designs and manufactures a wide variety of customized
pressure containers for use in the petroleum and chemical
industries.

On October 12, 2009, the Company entered into an agreement and
plan of merger with Skywide Capital Management Limited, a
corporation which is wholly owned by the Company's chairman and
chief executive officer, both of whom are also directors.  This
agreement was amended and restated on March 29, 2010.  Pursuant to
the agreement, as amended and restated, the Company will be merged
with a wholly-owned subsidiary of Skywide, with Skywide becoming
the Company's sole shareholder, and each share of common stock of
the Company (other than shares owned by the Company, Skywide, or
the two shareholders of Skywide), will be converted into the right
to receive, upon presentation of the certificates for their common
stock, the sum of $1.90.  The merger is subject to shareholder
approval.


SOLAR ENERTECH: Posts $19.2 Million Net Loss in Q2 Ended March 31
-----------------------------------------------------------------
Solar EnerTech Corp. filed its quarterly report on Form 10-Q,
reporting a net loss $19.2 million on $17.8 million of revenue for
the three months ended March 31, 2010, compared with a net loss of
$5.5 million on $4.4 million of revenue for the same period of
2009.

The Company's balance sheet at March 31, 2010, showed
$33.0 million in assets, $25.6 million of liabilities, and
$7.4 million of stockholders' equity.

As reported in the Troubled Company Reporter on January 15, 2010,
Ernst & Young Hua Ming, in Shanghai, 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
September 30, 2009.  The independent auditors noted that of the
Company's recurring losses from operations.

The Company has incurred significant net losses and has had
negative cash flows from operations during each period from
inception through March 31, 2010, and has an accumulated deficit
of approximately $91.4 million at March 31, 2010.  For the six
months ended March 31, 2010, the Company had negative operating
cash flows of $558,000 and incurred a net loss of approximately
$23.1 million.

As of March 31, 2010, the Company had cash and cash equivalents of
$897,000, as compared to $1.7 million at September 30, 2009.

"We will require a significant amount of cash to fund our
operations.  Changes in our operating plans, an increase in our
inventory, increased expenses, additional acquisitions, or other
events, may cause us to seek additional equity or debt financing
in the future.  In order to continue as a going concern, we will
need to continue to generate new sales while controlling our
costs.  If we are unable to successfully generate enough revenues
to cover our costs, we only have limited cash resources to bear
operating losses.  To the extent our operations are not
profitable, we may not continue as a going concern."

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

                  http://researcharchives.com/t/s?6659

                       About Solar EnerTech

Solar EnerTech Corp. (OTC BB: SOEN) is a photovoltaic solar energy
cell manufacturing enterprise incorporated in the United States
with its corporate office in Mountain View, California.  The
Company has established a sophisticated 67,107-square-foot
manufacturing facility at Jinqiao Modern Technology Park in
Shanghai, China.  The Company currently has two 25MW solar cell
production lines and a 50MW solar module production facility.

Solar EnerTech has also established a Joint R&D Lab at Shanghai
University to develop higher efficiency cells and to put the
results of that research to use in its manufacturing processes.


SOUTH BAY: Committee Proposes to Tap Brinkman as Counsel
--------------------------------------------------------
The Official Committee of Unsecured Creditors formed in the
Chapter 11 cases of South Bay Expressway LP and California
Transportation Ventures Inc. seeks the Court's permission to
retain Brinkman Portillo Ronk, PC, to serve as its counsel, nunc
pro tunc to June 17, 2010.

As Committee Counsel, BPR will:

  -- assist, advise and represent the Creditors Committee:

     * in consultations with the Debtors relative to the
       administration of the bankruptcy cases;

     * in analyzing the Debtors' assets and liabilities,
       investigate the extent and validity of liens, and
       participate in and review any proposed asset sales or
       depositions;

  -- attend meetings and negotiate with the Debtors'
     representatives and secured creditors;

  -- assist and advise the Creditors Committee in its
     examination, analysis and prosecution of meritorious claims
     related to the conduct of the Debtors' affairs, including
     relationships and transactions with affiliates and
     insiders;

  -- assist the Creditors Committee in the review, analysis and
     negotiations of any plans of reorganization that may be
     filed in the bankruptcy cases and the disclosure statement
     accompanying those plans;

  -- assist the Creditors Committee in the examination, analysis
     and prosecution of any claims arising under Chapter 5 of
     the Bankruptcy Code;

  -- assist the Creditors Committee in reviewing, analyzing and
     negotiating any financing or funding agreements;

  -- take all necessary actions to protect and preserve the
     interests of the Creditors Committee, including the
     prosecution of actions on its behalf, negotiations
     concerning all litigation in which the Debtors are
     involved, and review and analysis of all claims filed
     against the Debtors;

  -- prepare on behalf of the Creditors Committee all necessary
     motions, applications, answers, order reports and papers in
     support of positions taken by the Creditors Committee; and

  -- appear, as appropriate, before the Office of the United
     States Trustee, and the Court, appellate courts and other
     courts, in which matters may be heard to protect the
     interests of the Creditors Committee.

BPR will be paid based on its standard 2010 hourly rates:

    Professional             Rate
    ------------             ----
    Daren R. Brinkman        $535
    Laura J. Portillo        $455
    Kevin C. Ronk            $355
    Jeffrey P. Stephens      $295
    Paraprofessionals        $170

Jeffrey B. Kozek, chairman of the Creditors Committee, tells the
Court that there are no amounts due to BPR from the Debtors on
account of any prepetition services rendered.

Daren R. Brinkman, Esq., a principal at BPR, assures Judge Adler
that his firm does not represent any person or entity holding an
interest adverse to the bankruptcy cases, and that the firm is
disinterested within the meaning of Section 101(14) of the
Bankruptcy Code.

                   About South Bay Expressway

South Bay Expressway, L.P., dba San Diego Expressway, L.P., filed
for Chapter 11 on March 22, 2010 (Bankr. S.D. Calif. Case No.
10-04516).  Its affiliate, California Transportation Ventures
Inc., also filed for bankruptcy.

The Debtors developed and operate a four lane, nine mile express
toll road in Southern California commonly referred to as the South
Bay Expressway or State Road 125.  Both estimated assets and debts
of $500 million to $1 billion in their bankruptcy petitions.

Robert Pilmer, Esq., at Kirkland & Ellis LLP, represents the
Debtors in their restructuring effort.  PricewaterhouseCoopers LLP
is auditor and tax advisor.  Imperial Capital LLC is financial
advisor. Epiq Bankruptcy Solutions LLC serves as claims and notice
agent.

The Debtors say that as of the bankruptcy filing, they have
roughly $640 million in book value of total assets and roughly
$570 million in book value of total liabilities.

Bankruptcy Creditors' Service, Inc., publishes South Bay
Expressway Bankruptcy News.  The newsletter tracks the Chapter 11
proceeding undertaken by South Bay Expressway LP and California
Transportation Ventures Inc.  (http://bankrupt.com/newsstand/or
215/945-7000).


SOUTH BAY: Gets 4-Month Extension To File Chapter 11 Plan
---------------------------------------------------------
Judge Louise DeCarl Adler of the United States Bankruptcy Court
for the Southern District of California extended the exclusive
right of South Bay Expressway, L.P. and California Transportation
Ventures, Inc., to:

(a) file a Chapter 11 plan of reorganization through and
     including November 17, 2010; and

(b) solicit votes for that plan through January 16, 2011,

without prejudice to the Debtors' right to request further
extensions of the Exclusive Periods as the circumstances may
require.

As previously reported, the Debtors informed the Court that they
are working to develop a plan to restructure their $530 million in
secured debt but feared they won't have enough time to complete
their plan by the time their exclusive right to file a plan
expires later this month.

The company argued that an end to its exclusive right to file a
plan could jeopardize negotiations with creditors.  An extension
would prevent creditors or other parties from filing competing
reorganization proposals for the company while it works to
complete its own, they explained.

No party-in-interest opposed the extension request.

                   About South Bay Expressway

South Bay Expressway, L.P., dba San Diego Expressway, L.P., filed
for Chapter 11 on March 22, 2010 (Bankr. S.D. Calif. Case No.
10-04516).  Its affiliate, California Transportation Ventures
Inc., also filed for bankruptcy.

The Debtors developed and operate a four lane, nine mile express
toll road in Southern California commonly referred to as the South
Bay Expressway or State Road 125.  Both estimated assets and debts
of $500 million to $1 billion in their bankruptcy petitions.

Robert Pilmer, Esq., at Kirkland & Ellis LLP, represents the
Debtors in their restructuring effort.  PricewaterhouseCoopers LLP
is auditor and tax advisor.  Imperial Capital LLC is financial
advisor. Epiq Bankruptcy Solutions LLC serves as claims and notice
agent.

The Debtors say that as of the bankruptcy filing, they have
roughly $640 million in book value of total assets and roughly
$570 million in book value of total liabilities.

Bankruptcy Creditors' Service, Inc., publishes South Bay
Expressway Bankruptcy News.  The newsletter tracks the Chapter 11
proceeding undertaken by South Bay Expressway LP and California
Transportation Ventures Inc.  (http://bankrupt.com/newsstand/or
215/945-7000).


SOUTH BAY: Wins Approval to Pay 4 SBX Insiders
----------------------------------------------
The U.S. Bankruptcy Court granted, on a final basis, a request by
South Bay Expressway LP and California Transportation Ventures
Inc. for authority to compensate insiders, nunc pro tunc to
March 22, 2010, and to waive the requirements Rule 4002-2(b)(2) of
the Local Rules of the United States Bankruptcy Court for the
Southern District of California.

All objections to the request and all reservations of rights in
any objection are overruled on the merits.

Judge Adler authorized, but not directed, the Debtors to pay these
senior management insiders the indicated annual base salary, plus
other benefits pursuant to their employment agreement with the
Debtors:

SBX Insider         Position                   Salary/year
-----------         --------                   -----------
Greg Hulsizer       Chief Executive Officer       $275,000
Anthony G. Evans    Chief Financial Officer        240,000
Theresa Weekes      Chief Accounting Officer       139,000
Shane Savgur        Chief Technology Officer       139,000

The Court also directed the Debtors to pay the senior management
insiders according to prepetition practice in the ordinary course
of business.  The Debtors are authorized to provide the senior
management insiders with benefits and the ability to participate
in employee benefits programs, pursuant to each employment
agreements.

The Debtors are authorized to:

  -- continue to retain and compensate Lester David Hawley as an
     independent contractor pursuant to his independent
     contractor agreement with the Debtors and to be paid
     consistent with prepetition practice in the ordinary course
     of business;

  -- pay costs and expenses incidental to payment of the Insider
     Obligations, including all administrative and processing
     costs and payments to outside professionals; and

  -- issue postpetition checks, or to effect postpetition fund
     transfer requests, in replacement of any checks or fund
     transfer requests that are dishonored as a consequence of
     the Chapter 11 cases with respect to postpetition amounts
     owed to the insiders on account of the Insider Obligations.

The Court also ruled that the Debtors are not required to submit
to the Court a personal income and expense declaration for each
insider as otherwise required by Rule 4002-2(b)(2).

Judge Adler noted that nothing in the order (i) is intended or
should be construed to create an administrative priority claim on
account of the Insider Obligations, and (ii) authorizes the
Debtors to make payments otherwise prohibited under section 503(c)
of the Bankruptcy Code.

Notwithstanding the relief granted in the order, Judge maintained
that any payment made by the Debtor pursuant to the authority
granted in the order will be subject to the orders authorizing the
use of cash collateral.

                   About South Bay Expressway

South Bay Expressway, L.P., dba San Diego Expressway, L.P., filed
for Chapter 11 on March 22, 2010 (Bankr. S.D. Calif. Case No.
10-04516).  Its affiliate, California Transportation Ventures
Inc., also filed for bankruptcy.

The Debtors developed and operate a four lane, nine mile express
toll road in Southern California commonly referred to as the South
Bay Expressway or State Road 125.  Both estimated assets and debts
of $500 million to $1 billion in their bankruptcy petitions.

Robert Pilmer, Esq., at Kirkland & Ellis LLP, represents the
Debtors in their restructuring effort.  PricewaterhouseCoopers LLP
is auditor and tax advisor.  Imperial Capital LLC is financial
advisor. Epiq Bankruptcy Solutions LLC serves as claims and notice
agent.

The Debtors say that as of the bankruptcy filing, they have
roughly $640 million in book value of total assets and roughly
$570 million in book value of total liabilities.

Bankruptcy Creditors' Service, Inc., publishes South Bay
Expressway Bankruptcy News.  The newsletter tracks the Chapter 11
proceeding undertaken by South Bay Expressway LP and California
Transportation Ventures Inc.  (http://bankrupt.com/newsstand/or
215/945-7000).


SOUTHEAST REGENCY: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Southeast Regency Medical Center, LP
        aka SERMC A/B & C
        10516 FM 1431 East
        Marble Falls, TX 77584

Bankruptcy Case No.: 10-11923

Chapter 11 Petition Date: July 9, 2010

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

Judge: Craig A. Gargotta

Debtor's Counsel: Frank B. Lyon, Esq.
                  6836 Austin Center Blvd., Suite 150
                  Austin, TX 78731
                  Tel: (512) 345-8964
                  Fax: (512) 345-4393
                  E-mail: frank@franklyon.com

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

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

The petition was signed by J. Carlew and F. Ausmus, managers of
SERM GP, LLC.

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


SPONGETECH DELIVERY: Files for Chapter 11 in Manhattan
------------------------------------------------------
SpongeTech Delivery Systems, Inc., has filed for Chapter in
Manhattan (Bankr. S.D.N.Y. Case No. 10-13647).  The petition
listed assets of $10,000,000 to $50,000,000 and debts of
$1,000,000 to $10,000,000.

Kaja Whitehouse at The New York Post reports that the Chapter 11
filing came two months after SpongeTech was tagged by authorities
as a pump-and-dump scheme.  The Post recounts that in May, the
Company's two top officers, Michael Metter and Steven Moskowitz,
were arrested on charges they obstructed an SEC investigation into
their revenues.  The SEC has charged them with lying about sales
and fabricating customers in order to pump up the stock.

Spongetech Delivery Systems distributes a line of hydrophilic
polyurethane and polyurethane sponge cleaning and waxing products.

According to The Post, SpongeTech's Georgia-based manufacturing
company, once owned by Berkshire Hathaway, also filed for
bankruptcy.  The creditors accused Mr. Moskowitz of siphoning cash
from the plant, including $700,000 in funds this year alone.


SPONGETECH DELIVERY: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Spongetech Delivery Systems Inc.
        10 West 33 Street
        New York, NY 10001

Bankruptcy Case No.: 10-13647

Chapter 11 Petition Date: July 9, 2010

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

Judge: Stuart M. Bernstein

Debtor's Counsel: Edward Neiger, Esq.
                  Neiger, LLP
                  317 Madison Ave.
                  New York, NY 10018
                  Tel: (212) 267-7342

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

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

The petition was signed by Ira Minkoff, vice president.

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

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Dicon Technologies, LLC                10-41275    06/24/10


ST. VINCENTS: Hearing on July 22 for Jewish Health-Led Auction
--------------------------------------------------------------
St. Vincents Catholic Medical Centers has signed a contract to
sell its long term health-care program to New York health system
Metropolitan Jewish Homecare Inc. for $17.1 million, absent higher
and better bids at an auction.

According to Bill Rochelle at Bloomberg News, a hearing will be
held July 22 to settle on auction and sale procedures.  If
approved by the judge, the auction would take place Aug. 11,
followed by an Aug. 19 hearing to approve the sale.

Bloomberg notes that the auction and sale procedure will duplicate
a separate process testing whether the $15 million offer from
North Shore University Hospital is the best bid for St. Vincent's
certified home health-care agency.

                       About Saint Vincents

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).


STALLION RESTAURANT: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Stallion Restaurant Group, LLC
        1722 Routh Street, Suite 126
        Dallas, TX 75201

Bankruptcy Case No.: 10-34885

Chapter 11 Petition Date: July 11, 2010

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

Judge: Barbara J. Houser

Debtor's Counsel: Stephanie Diane Curtis, Esq.
                  The Curtis Law Firm, PC
                  901 Main Street, Suite 6515
                  Dallas, TX 75202
                  Tel: (214) 752-2222
                  Fax: (214) 752-0709
                  E-mail: scurtis@curtislaw.net

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

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 Xandreya Zigel, manager.


STATION CASINOS: Extends L/C Expiration to February 2011
--------------------------------------------------------
Station Casinos, Inc., and its debtor affiliates, excluding FCP
PropCo, LLC and the FCP MezzCo Debtors, sought and obtained
authority from Judge Gregg Zive of the U.S. Bankruptcy Court for
the District of Nevada to enter into amendments to:

   (a) the prepetition Credit Agreement, dated as of November 7,
       2007, among SCI, as borrower; Deutsche Bank Trust Company
       Americas, as administrative agent and collateral agent;
       the lenders; Deutsche Bank Securities, Inc. and J.P.
       Morgan Securities Inc., as joint lead arrangers and joint
       bookrunners; JPMorgan Chase Bank, N.A., as syndication
       agent; and Bank of Scotland plc, Bank of America, N.A., and
       Wachovia Bank, N.A., as co-documentation agents; and

   (b) the related Cash Collateral Agreement, dated March 2,
       2009, among the Agent, DBTCA, as account custodian, and
       SCI.

The Prepetition Loan Agreement provided for a $250,000,000 term
loan facility and a $650,000,000 revolving credit facility.

Under the revolving credit facility and prior to the Petition
Date, one of the lenders issued prepetition letters of credit,
and SCI delivered cash to DBTCA to cash collateralize the L/Cs.
Four of those L/Cs have an expiration date of July 28, 2010.

The beneficiaries of the expiring L/Cs and the amounts of those
L/Cs are:

   Beneficiary                                   Amount
   -----------                                   ------
   State of Nevada, Department of
   Business and Industry, Division
   of Insurance, Self-Insured Workers
   Compensation Section                       $1.3 million

   County of Washoe, State of Nevada               $25,000

   National Union Fire Insurance Co.
   of Pittsburgh, PA, et al.                  $2.2 million

   National Union Fire Insurance Co.
   of Pittsburgh, PA, et al.                      $624,804

Fred Neufeld, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in
Los Angeles, California, maintains that it is in the best
interest of Debtors that the expiry dates on the L/Cs be
extended.

The Amendment, according to Mr. Neufeld, provides that the L/C
Issuer is authorized to amend, renew or extend the L/Cs to a date
not later than February 11, 2011.  Furthermore, the Amendment
provides that the obligations of the borrower and other Loan
Parties in respect of the L/Cs will be treated as prepetition
secured obligations of the Loan Parties for all purposes.

The Amendment also authorizes the DBTCA to reimburse the L/C
Issuer or the Secured Lenders under the revolving credit facility
that participate in L/Cs in the event any L/Cs are drawn upon.

Mr. Neufeld relates that since March 2, 2009, DBTCA is in
possession of approximately $10,184,203 in an L/C cash collateral
account pursuant to the Cash Collateral Agreement.  Since the
Petition Date, Mr. Neufeld notes, two L/Cs have been drawn on,
one in the amount of $894,399 and the other in the amount of
$3,172.

The Court held in its order that:

   (a) the Debtors' reimbursement obligations to DBTCA under
       the L/Cs constitutes a prepetition secured obligation of
       the Debtors under the Prepetition Loan Agreement; and

   (b) the L/Cs that are renewed pursuant to the Amendment will
       not be deemed to constitute a new extension of credit
       under Section 364 of the Bankruptcy Code.

Prior to the approval of the request, the Debtors sought to
shorten notice on the hearing on the Motion so that the Amendment
may be approved prior to June 28, 2010.  Thomas Friel, executive
vice president, chief accounting officer, and treasurer of
Station Casinos, Inc., maintains that shortened notice was
required because the prepetition lenders will issue notices of
non-renewal before June 28, 2010, if the Motion is not granted,
and if notices of non-renewal are issued, the letter of credit
beneficiaries will be incentivized to draw down approximately
$4 million in L/Cs before they expire.

                     About Station Casinos

Station Casinos, Inc., is a gaming and entertainment company that
currently owns and operates nine major hotel/casino properties
(one of which is 50% owned) and eight smaller casino properties
(three of which are 50% owned), in the Las Vegas metropolitan
area, as well as manages a casino for a Native American tribe.

The Company owns and operates Red Rock Casino Resort Spa, Palace
Station Hotel & Casino, Boulder Station Hotel & Casino, Santa Fe
Station Hotel & Casino, Wildfire Rancho and Wild Wild West
Gambling Hall & Hotel in Las Vegas, Nevada, Texas Station Gambling
Hall & Hotel and Fiesta Rancho Casino Hotel in North Las Vegas,
Nevada, and Sunset Station Hotel & Casino, Fiesta Henderson Casino
Hotel, Wildfire Boulder, Gold Rush Casino and Lake Mead Casino in
Henderson, Nevada.  Station also owns a 50% interest in Green
Valley Ranch Station Casino, Aliante Station Casino and Hotel,
Barley's Casino & Brewing Company, The Greens and Wildfire Lanes
in Henderson, Nevada and a 6.7% interest in the joint venture that
owns the Palms Casino Resort in Las Vegas, Nevada.  In addition,
the Company manages Thunder Valley Casino near Sacramento,
California on behalf of the United Auburn Indian Community.

Station Casinos Inc., together with its affiliates, filed for
Chapter 11 on July 28, 2009 (Bankr. D. Nev. Case No. 09-52477).
Station Casinos has hired Milbank, Tweed, Hadley & McCloy LLP as
legal counsel in the Chapter 11 case; Brownstein Hyatt Farber
Schreck, LLP, as regulatory counsel; and Lewis and Roca LLP as
local counsel.  The Debtor is also hiring Lazard Freres & Co. LLC
as investment banker and financial advisor.  Kurtzman Carson
Consultants LLC is the claims and noticing agent.

In its bankruptcy petition, Station Casinos said that it had
assets of $5,725,001,325 against debts of $6,482,637,653 as of
June 30, 2009.  About 4,378,929,997 of its liabilities constitute
unsecured or subordinated debt securities.

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


STEPHEN SILL: Case Summary & 6 Largest Unsecured Creditors
----------------------------------------------------------
Joint Debtors: Stephen Dennis Sill
               Barbara Helen Sill
               397 SW Todd Avenue
               Port Saint Lucie, FL 34983

Bankruptcy Case No.: 10-29499

Chapter 11 Petition Date: July 9, 2010

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

Judge: Paul G Hyman, Jr.

Debtor's Counsel: Brad Culverhouse, Esq.
                  320 S Indian River Drive, # 100
                  Ft Pierce, FL 34950
                  Tel: (772) 465-7572
                  E-mail: bradculverhouselaw@gmail.com

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

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

A copy of the Joint Debtors' list of 6 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/flsb10-29499.pdf

The petition was signed by the Joint Debtors.


SYNERGX SYSTEMS: Posts $640,500 Net Loss in Q2 Ended March 31
-------------------------------------------------------------
Synergx Systems, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $640,553 on $2,482,513 of revenue for the
three months ended March 31, 2010, compared with a net loss of
$48,478 on $5,291,494 of revenue for the same period of 2009.

The Company's balance sheet at March 31, 2010, showed
$7,343,385 in assets, $4,439,910 of liabilities, and $2,903,475 of
stockholders' equity.

As reported in the Troubled Company Reporter on January 12, 2010,
Nussbaum Yates Berg Klein & Wolpow, LLP, in Melville, N.Y.,
expressed substantial doubt about Synergx Systems, Inc. and
subsidiaries' ability to continue as a going concern after
auditing the Company's consolidated financial statements for the
year ended September 30, 2009.

"The Company has continued to incur losses from operations.  In
addition, in an attempt to achieve profitability and positive cash
flow, management has instituted a cost reduction program that
included a reduction in labor and other costs.  Further, due to
the uncertain economic conditions, recurring losses, and the
current unfavorable lending climate, there can be no assurance
that the Company will be able to generate sufficient cash flow to
pay off its entire bank line or that it will be successful in
arranging a new line of credit on acceptable terms for an amount
sufficient to continue its operations successfully.  As a result,
these factors raise substantial doubt with respect to the
Company's ability to continue as a going concern."

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

              http://researcharchives.com/t/s?6653

                      About Synergx Systems

Based in Syosset, New York, Synergx Systems Inc. (SYNX.PK)
-- http://www.synergxsystems.com/-- is a Delaware corporation
organized in October 1988 to acquire controlling interests in
companies engaged in the design, manufacture, distribution, sale
and servicing of fire, life safety, security, energy management,
intercom, audio-video communication and other systems.

Synergx's business is conducted through subsidiaries in the New
York City metropolitan area.  Synergx conducts its business in New
York principally through Casey Systems Inc. and, effective
October 1, 2009, Casey Fire Systems Inc., its wholly owned
subsidiaries located in New York City and Long Island, New York.

Synergx entered into a Merger Agreement, dated January 22, 2010,
among Synergx, Firecom, Inc., and FCI Merger Corp., a newly-formed
wholly-owned subsidiary of Firecom (the "Merger Sub"), as amended
on March 19, 2010, by Amendment No. 1 to the Merger Agreement.
The Merger Agreement, as amended, provides for Firecom to acquire
Synergx through a merger of Merger Sub with and into Synergx, with
Synergx to be the surviving corporation and a wholly-owned
subsidiary of Firecom.  Pursuant to the Merger Agreement at the
effective time of the Merger, each issued and outstanding share of
common stock of Synergx (other than any shares owned by Firecom or
Merger Sub, by Synergx as treasury stock, or by any stockholders
who are entitled to, and who properly exercise, appraisal rights
under Delaware law) will be canceled and will be converted
automatically into the right to receive $0.70 in cash, without
interest and less any applicable withholding taxes.


TELECONNECT INC: Posts $335,719 Net Loss in Q2 Ended March 31
-------------------------------------------------------------
Teleconnect Inc. filed its quarterly report on Form 10-Q,
reporting a net loss $335,712 on $111 of revenue for the three
months ended March 31, 2010, compared with a net loss of $312,861
on $95,061 of revenue for the same period of 2009.

The Company did not ship any kiosks during the quarter as a
customer of a current 150 kiosk order requested a delay in
shipping additional units.

The Company's balance sheet at March 31, 2010, showed $2,055,793
in assets and $2,974,233 of liabilities, for a stockholders'
deficit of $918,440.

As reported in the Troubled Company Reporter on January 18, 2010,
Coulter & Justus, P.C., in Knoxville, Tennessee, expressed
substantial doubt about Teleconnect Inc. and subsidiaries' ability
to continue as a going concern after auditing the Company's
consolidated financial statements for the year ended September 30,
2009.  The independent public accounting firm pointed to the
Company's recurring losses and net capital deficiency in addition
to a working capital deficiency.

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

               http://researcharchives.com/t/s?665a

                      About Teleconnect Inc.

Based in Breda, The Netherlands, Teleconnect Inc. (OTC: TLCO)
-- http://teleconnect.es/-- derives its revenues from continuing
operations primarily from the sale of multimedia kiosks and
hardware components to retail chains in the Netherlands.  These
kiosks and components can be applied to different functions such
as recharging prepaid telephone cards.

On May 3, 2010, the Company signed a letter of intent to acquire
100% of Hollandsche Exploitatie Maatschappij BV (HEM) in The
Netherlands.  The purchase price contemplated by the letter of
intent is 12% of the outstanding common stock of the Company, post
emission.  The purchase of HEM is subject to due diligence by
Teleconnect as well as shareholders' approval.  HEM, established
in 2007, developed an age validation system, "Ageviewers", which
utilizes the Company's products in its processes.


THERMOENERGY CORP: Posts $2.0 Million Net Loss in Q1 2010
---------------------------------------------------------
ThermoEnergy Corporation filed its quarterly report on Form 10-Q,
reporting a net loss $1,988,000 on $1,160,000 of revenue for the
three months ended March 31, 2010, compared with a net loss of
$3,169,000 on $375,000 of revenue for the same period of 2009.

The Company's balance sheet at March 31, 2010, showed
$2,526,000 in assets and $17,368,000 of liabilities, for a
stockholders' deficit of $14,842,000.

The Company has incurred net losses since inception and will
require substantial additional capital to continue
commercialization of the Company's wastewater treatment and clean
energy technologies and to fund the Company's liabilities, which
included approximately $2,246,000 of payroll tax liabilities,
$4,579,000 of convertible debt securities in default, net of debt
discounts of $42,000, and $2,981,000 of contingent liability
reserves.  In addition, the Company may be subject to tax liens if
it cannot satisfactorily settle the outstanding payroll tax
liabilities and may also face criminal and/or civil action with
respect to the impact of the payroll tax matters.

As reported in the Troubled Company Reporter on May 4, 2010,
Kemp & Company, a Professional Association, in Little Rock, Ark.,
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.

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

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

Little Rock, Ark.-based ThermoEnergy Corporation is a clean
technologies company engaged in the worldwide development of
advanced municipal and industrial wastewater treatment systems and
carbon reducing clean energy technologies.


TEXAS RANGERS: Ryan-Greenberg Group Files Suit, Alleges Breach
--------------------------------------------------------------
Eric Morath at Dow Jones Daily Bankruptcy Review reports that the
prospective buyers of the Texas Rangers filed a lawsuit Monday
before the U.S. Bankruptcy Court in Fort Worth, Texas against the
baseball team, alleging that the franchise breached its $575
million deal to sell itself to an investment group that includes
Hall of Fame pitcher Nolan Ryan and sports attorney Chuck
Greenberg.  Rangers Baseball Express LLC said the team is actively
"soliciting and negotiating" with rival purchasers in direct
violation of the purchase agreement it struck prior to the team's
Chapter 11 filing.

According to the report, the Ryan-Greenberg group said the chief
restructuring officer appointed to represent the Rangers' owners
has attempted to "hijack" the bankruptcy case by soliciting new
bids for the team and attempting to modify the procedures that
would govern a sale.

The investors want the court to either approve the sale of the
Rangers on the terms already proposed or instruct the team to pay
the Ryan-Greenberg group damages stemming from the contract
violation.

Dow Jones notes the lawsuit could complicate sale of the team,
which the Rangers had sought to conclude on an expedited basis.  A
bankruptcy judge is slated to consider the sale at a July 22
hearing.

Meanwhile, Barry Shlachter at The Dallas Morning News reports that
U.S. Bankruptcy Judge Michael Lynn said Monday security at the
courthouse was stepped up after William K. Snyder, 51 -- the chief
restructuring officer appointed in the Rangers' Chapter 11 case --
received threatening phone calls.  Mr. Snyder declined comment on
the threats.

Dallas Morning News also reports that although a source close to
the case said the calls were serious enough to alert federal
officials, Judge Lynn downplayed any potential danger.  No one
would describe the content of the threats or say how many have
been received.

"I am not particularly worried about them," Dallas Morning News
quotes Judge Lynn as saying.  "After all, we do get those e-mails
from disgruntled fans who believe -- as, I understand, do some
sports writers -- that I should construe the Bankruptcy Code as
wished for by the fans.

"I don't expect anyone to shoot at him or me," he said. "A
baseball through my window is another matter."

                        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: Said to Attract "Significantly Higher" Bids
----------------------------------------------------------
The Texas Rangers will draw a "significantly higher" opening bid
at a bankruptcy auction than an existing offer for the baseball
team, Thomas Korosec and David McLaughlin at Bloomberg reported,
citing a person familiar with the matter.

The Bloomberg report added that the team has attracted several
bidders interested in participating in the auction.  One of the
bidders is Dallas businessman Jeff Beck, the person familiar with
the matter said.  A lawyer for Houston businessman Jim Crane, who
unsuccessfully bid for the team before its bankruptcy, joined
other lawyers involved in the case at a closed-door conference
with Judge D. Michael Lynn.

According to Bill Rochelle at Bloomberg, the bankruptcy judge is
urging the parties to reach agreement on auction rules so he can
approve the sale at a July 22 hearing.

The Texas Rangers at the start of its Chapter 11 case filed a
proposed Chapter 11 plan built upon a sale of the team to Hall of
Fame pitcher Nolan Ryan and former Pittsburgh Attorney Chuck
Greenberg for $575 million.  However, senior creditors argued that
they can get a higher price through a bankruptcy auction.  The
team later agreed to auction itself.

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 where a bidding group led by Mr. Ryan would be the lead
bidder.  The team made the move because the chief restructuring
officer for its equity owners withdrew his support, Martin
Sosland, the Rangers' bankruptcy lawyer, said, according to
Bloomberg.

                 Alex Rodriguez Supports Auction

The New York Post reported last Friday that Alex Rodriguez, the
Yankees slugger, who is the largest unsecured creditor of the
bankrupt Texas Rangers, has asked the bankruptcy judge to approve
an auction of the franchise -- a process that will almost
guarantee he gets paid 100% of the $24.9 million he is owed by the
team.   A-Rod is owed the money under a contract he signed with
the Ranger in 2001.

Senior lenders have opposed the $575 million sale of the team to
the Ryan group, claiming that they are not getting paid in full
under the present terms.

According to the Post, without an auction, the senior lenders may
prevail in upping their payout -- which could mean A-Rod and other
unsecured creditors get less.

                        About Texas Rangers

Texas Rangers Baseball Partners owns and operates the Texas
Rangers Major League Baseball Club, a professional baseball club
in the Dallas/Fort Worth Metroplex.  TRBP is a Texas general
partnership, in which subsidiaries of HSG Sports Group LLC own a
100% stake.  Controlled by Thomas O. Hicks, HSG also indirectly
wholly-owns Dallas Stars, L.P., which owns and operates the Dallas
Stars National Hockey League franchise.  The Texas Rangers have
had five owners since the club moved to Arlington in 1972.  Mr.
Hicks became the fifth owner in the history of the Texas Rangers
on June 16, 1998.

In its petition, Texas Rangers Baseball Partners said it had both
assets and debt of less than $500 million.

Weil, Gotshal & Manges LLP serves as bankruptcy counsel to the
Debtor.  Forshey & Prostok LLP serves as conflicts counsel.
Parella Weinberg Partners LP serves as financial advisor.

Lenders to the Texas Rangers sought to force the baseball team's
equity owners -- Rangers Equity Holdings, L.P. and Rangers Equity
Holdings GP, LLC -- into bankruptcy court protection (Bankr. N.D.
Tex. Case No. 10-43624 and 10-43625).   The lenders, a group that
includes investment funds Monarch Alternative Capital and
Kingsland Capital Management, filed an involuntary bankruptcy
petition on May 28 against the two companies.  The two companies
were not included in the May 24 Chapter 11 filing of TRBP.


TITUS TRANSPORTATION: Promises Quick Reorganization
---------------------------------------------------
Bill Rochelle at Bloomberg News reports that Titus Transportation
LP said in a statement last week that its Chapter 11
reorganization is designed to "close down a separate brokerage
unit."  Titus said the Chapter 11 case is a "well-planned, quick
in-and-out."

Based in Texas, Titus Transportation, LP -- http://www.titus.ws/
-- provides national transportation and logistics services.

Titus Transportation filed for Chapter 11 on July 2, 2010 (Bankr.
E.D. Tex. Case No. 10-42202).  The petition listed assets of
$1,000,001 to $10,000,000 and debts of $1,000,001 to $10,000,000.
Attorneys at Wright Ginsberg Brusilow P.C., in Dallas, Texas,
represent the Debtor in its Chapter 11 effort.


TRONOX INC: Metawise to Buy Contaminated Iron Oxide Tailings
------------------------------------------------------------
In a letter addressed to the U.S. Bankruptcy Court, Metawise
Group, Inc. announced its intention to purchase the contents of
the 27-acre iron oxide tailings pond in Tronox LLC's facility in
Theodore Alabama.

Charles H. Merchant, Sr., in the letter, says that the purchase
price is $6.50 per ton and the total estimated weight is
1,080,000 tons.  He notes that the contaminated iron oxide
material will be transported to China within 24 months of
purchase and the area where the material is currently located
will be returned to satisfactory environmental standards.

                       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: Proposes Grant Thornton as Auditor
----------------------------------------------
Tronox Inc. and its units ask the Court for authority to employ
Grant Thornton LLP as auditor as of June 10, 2010, replacing Ernst
& Young LLP.

Ernst & Young has been implicated in and named as a co-defendant
alongside the Debtors with respect to matters involving, among
other things, potential securities fraud and the misstatement of
financial affairs, the Debtors note.

The Debtors previously filed with the Securities and Exchange
Commission a Form 8-K declaring that prior year financial
statements, which had been audited by Ernst & Young, cannot be
relied upon as there were indications that the environmental and
other contingent liability reserves may have been understated and
that Tronox had not yet completed a review of contingency
reserves related to all known sites where the company may have
environmental remediation liabilities.

The Debtors have not issued restated audited financial statements
for the year ending December 31, 2008, nor has Tronox issued
audited financial statements for the years ending December 31,
2009 and 2010.

As the Debtors auditor, Grant Thornton will provide these
services:

  a. audits of the consolidated financial statements as of and
     for the years ending December 31, 2010, 2009 and 2008;

  b. an audit of Tronox's internal control over financial
     reporting as of December 31, 2010; and

  c. reviews of interim financial statements.

Grant Thornton may subcontract other third-party service
providers, like independent contractors, specialists, vendors or
other Grant Thornton member firms in Australia, Netherlands and
Germany, to assist with international aspects of the audit
services.  Grant Thornton will invoice and collect all fees and
expenses payable to the parties or entities for subcontracted
support services.

The Debtors will pay Grant Thornton based on its hourly rates:

  Partner/Principal/Partner      $310 to $520
  Manager/Senior Manager         $205 to $310
  Senior                         $145 to $185
  Staff                          $100 to $140

In addition to the hourly rates, the Debtors will reimburse Grant
Thornton for any direct expenses incurred in connection with its
employment.

Kevin M. Schroeder, a partner of Grant Thornton, assures the
Court that his firm is a "disinterested person" within the
meaning of Section 101(14) of the Bankruptcy Code.

                       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)


TURN OF THE CENTURY: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Turn Of The Century, Inc.
        2110 Overland, Suite 117
        Billings, MT 59102

Bankruptcy Case No.: 10-61662

Chapter 11 Petition Date: July 9, 2010

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

Judge: Ralph B. Kirscher

Debtor's Counsel: Allen Beck, Esq.
                  Law Offices Of Allen Beck
                  505 W Main Street, Suite 405
                  Lewistown, Mt 59457
                  Tel: (406) 538-8380
                  E-mail: becklaw@midrivers.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 Phillip Keithh, president.


US AIRWAYS: Employees to Share $5.1 Million Bonus for May
---------------------------------------------------------
For the first time since its 2005 merger with America West
Airlines, US Airways (NYSE: LCC) scored No. 1 in each of the on-
time performance, baggage handling and customer satisfaction
measures among the "Big Five" network carriers in the U.S.
Department of Transportation's (DOT) May 2010 Air Travel Consumer
Report.  As a result, the airline will distribute $5.1 million
among its 31,000 employees later this month.  The airline awards
$50 per metric (on time, baggage and complaints) when it places
first among the larger network carriers; a "triple play"
performance means each employee will receive a $150 bonus for
May's results.

US Airways Chairman and Chief Executive Officer Doug Parker said,
"Our team hit this one out of the park.  In a highly competitive
and unpredictable environment, achieving a first place finish in
all three major DOT metrics is a rare honor for any airline and
reflects the spirit of service and operational excellence the US
Airways team delivers every day.  I congratulate each of our
31,000 employees for this accomplishment and their dedication to
getting our customers where they want to go, on time, with their
bags and without any hassles."

The DOT report ranked US Airways first among the "Big Five" hub-
and-spoke carriers (American, Continental, Delta, United and US
Airways) in its three most important measures of air traveler
satisfaction.

On-Time Performance: US Airways ranked first with 85.3 percent of
its flights arriving within 14 minutes of their scheduled arrival
time.  Seventy-six percent of US Airways' flights departed on
time, surpassing the airline's internal goal and leading the Big
Five in on-time departure performance.  This is the second month
in a row US Airways has made a payout for on-time performance.

Baggage Handling: US Airways ranked first with 2.27 mishandled
bags for every 1,000 passengers.

Customer Satisfaction: US Airways ranked first with 1.19
complaints for every 100,000 enplanements.

In 2008, US Airways led its peers in on-time arrivals, and in
2009, US Airways ranked second in on-time performance and paid
more than $12 million to employees for strong rankings in on-time
arrivals and baggage performance.  Since the 2005 merger, the
airline has distributed more than $40 million to employees.

US Airways Executive Vice President and Chief Operating Officer
Robert Isom said, "We have made great strides in our operational
performance over the past two years, and our goal is to keep the
momentum going.  Our standout performance in the DOT measures can
be attributed to teams across our airline partnering to lead the
industry in on-time departures, use of new scanning technology to
accurately load bags, and serve our customers well in varying
operational conditions.  My sincere thanks to our employees for
their perseverance and dedication to running a great airline for
our customers."

                      About US Airways

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

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

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

                       *     *     *

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

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

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

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


US AIRWAYS: Holcome's Stay Motion Rejected by Bankr. Court
----------------------------------------------------------
Judge Stephen S. Mitchell of the U.S. Bankruptcy Court for the
Eastern District of Virginia denied the motion of Fougere
Holcombe to stay the proceedings in the bankruptcy court as they
relate to the Reorganized Debtors' objection to the allowance of
her claim.  The claim was disallowed by the Bankruptcy Court on
April 2, 2007.

That ruling was affirmed by the U.S. District Court for the
Eastern District of Virginia and was largely affirmed by the U.S.
Court of Appeals for the Fourth Circuit, which, however, was
reversed and remanded to the District Court for consideration of
a discrete issue.

The District Court, after a hearing, in turn remanded the matter
back to the Bankruptcy Court.

The issue to be resolved pursuant to the order of remand is
whether the Debtors discriminated against Ms. Holcombe under the
Americans with Disabilities Act after March 18, 2003, by failing
to select her for jobs for which she applied while on medical
leave.

Ms. Holcombe filed a motion in the District Court for withdrawal
of the reference and transfer of the claim objection to the U.S.
District Court for the Eastern District of New York, where it can
be consolidated with two pending lawsuits she has against the
Debtors and her union in that court.

The motion for withdrawal of reference and transfer of venue has
been set for hearing on September 10, 2010.

Judge Mitchell said the filing of a motion to withdraw the
reference does not automatically stay proceedings before the
bankruptcy court.  According to Judge Mitchell, the determination
on whether to stay proceedings is discretionary.

He adds that a major consideration, obviously, is the likelihood
that the District Court will grant the relief.  In this instance,
Judge Mitchell notes, the likelihood that the District Court will
withdraw the reference seems slight, particularly in light of the
narrow issues on remand.

Consequently, Ms. Holcombe sought reconsideration of the Court's
denial on the Stay Motion.  Ms. Holcombre asserted that all
issues relating to her claim must be resolved in the federal
District Court, where her case was originally filed.

Judge Mitchell, however, denied Ms. Holcombe's Motion for
Reconsideration.

                      About US Airways

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

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

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

                       *     *     *

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

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

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

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


US AIRWAYS: Reports June 2010 Traffic Results
---------------------------------------------
US Airways Group, Inc. (NYSE: LCC) announced June, second quarter
and year-to-date 2010 traffic results.  Mainline revenue passenger
miles (RPMs) for the month were 5.6 billion, up 2.9 percent versus
June 2009.  Mainline capacity was 6.4 billion available seat miles
(ASMs), up 2.8 percent versus June 2009.  Mainline passenger load
factor was a record 86.9 percent for the month of June, up 0.1
points versus June 2009.

US Airways President Scott Kirby said, "Our June consolidated
(mainline and Express) passenger revenue per available seat mile
(PRASM) increased approximately 22 percent versus the same period
last year while total revenue per available seat mile increased
approximately 23 percent on a year-over-year basis.  We are also
running a great airline, delivering on-time and baggage
reliability that leads our peers and is the best since our merger.
We couldn't be more proud of our 31,000 employees for doing such a
tremendous job of taking care of our customers."

For the month, US Airways' preliminary on-time performance as
reported to the U.S. Department of Transportation (DOT) was 83.4
percent with a completion factor of 99.3 percent, up 5.4 points
and 0.4 points respectively from June 2009.

This summarizes US Airways Group's traffic results for the month,
quarter, and year-to-date ended June 30, 2010 and 2009, consisting
of mainline operated flights as well as US Airways Express flights
operated by wholly owned subsidiaries PSA Airlines and Piedmont
Airlines.

                      US Airways Mainline
                             June

                                    2010        2009  % Change

Mainline Revenue Passenger Miles (000)

Domestic                       3,976,546   4,013,969      (0.9)
Atlantic                       1,172,871   1,078,380       8.8
Latin                            442,212     341,063      29.7
                                ---------   ---------
Total                          5,591,629   5,433,412       2.9

Mainline Available Seat Miles (000)

Domestic                       4,563,555   4,556,257       0.2
Atlantic                       1,327,948   1,301,257       2.0
Latin                            540,006     401,324      34.6
                                ---------   ---------
Total                          6,431,509   6,259,364       2.8

Mainline Load Factor (%)

Domestic                            87.1        88.1  (1.0) pts
Atlantic                            88.3        82.8   5.5  pts
Latin                               81.9        85.0  (3.1) pts
                                ---------   ---------
Total Mainline Load Factor          86.9        86.8   0.1  pts

Mainline Enplanements

Domestic                       3,965,161   3,946,511   0.5
Atlantic                         284,776     277,193   2.7
Latin                            340,188     285,148  19.3
                                ---------   ---------
Total Mainline Enplanements    4,590,125   4,508,852   1.8

                         Quarter to Date

                                    2010        2009  % Change

Mainline Revenue Passenger Miles (000)

Domestic                      11,328,450  11,769,464      (3.7)
Atlantic                       2,854,817   2,615,331       9.2
Latin                          1,347,021   1,140,800      18.1
                               ----------  ----------
Total                         15,530,288  15,525,595         -

Mainline Available Seat Miles (000)

Domestic                      13,339,558  13,596,932      (1.9)
Atlantic                       3,367,068   3,257,131       3.4
Latin                          1,733,632   1,455,979      19.1
                               ----------  ----------
Total                         18,440,258  18,310,042       0.7

Mainline Load Factor (%)

Domestic                            84.9        86.6  (1.7) pts
Atlantic                            84.8        80.3   4.5  pts
Latin                               77.7        78.4  (0.7) pts
                                ---------   ---------
Total Mainline Load Factor          84.2        84.8  (0.6) pts

Mainline Enplanements

Domestic                      11,647,717  11,837,748  (1.6)
Atlantic                         700,593     672,727   4.1
Latin                          1,032,683     929,877  11.1
                               ----------  ----------
Total Mainline Enplanements   13,380,993  13,440,352  (0.4)

                          Year to Date

                                  2010        2009  % Change

Mainline Revenue Passenger Miles (000)

Domestic                      21,426,174  22,341,393      (4.1)
Atlantic                       4,317,236   3,986,349       8.3
Latin                          2,840,094   2,506,470      13.3
                               ----------  ----------
Total                         28,583,504  28,834,212      (0.9)

Mainline Available Seat Miles (000)

Domestic                      25,817,349  26,689,655      (3.3)
Atlantic                       5,488,584   5,337,068       2.8
Latin                          3,712,903   3,262,432      13.8
                               ----------  ----------
Total                         35,018,836  35,289,155      (0.8)

Mainline Load Factor (%)

Domestic                            83.0        83.7  (0.7) pts
Atlantic                            78.7        74.7   4.0  pts
Latin                               76.5        76.8  (0.3) pts
                                ---------   ---------
Total Mainline Load Factor          81.6        81.7  (0.1) pts

Mainline Enplanements

Domestic                      22,184,773  22,814,307  (2.8)
Atlantic                       1,061,636   1,027,096   3.4
Latin                          2,119,803   2,008,220   5.6
                               ----------  ----------
Total Mainline Enplanements   25,366,212  25,849,623  (1.9)

                       US Airways Express
               (Piedmont Airlines, PSA Airlines)
                             June

                                   2010        2009   % Change

Express Revenue Passenger Miles (000)
Domestic                        200,832     195,886     2.5

Express Available Seat Miles (000)
Domestic                        269,925     268,797     0.4

Express Load Factor (%)
Domestic                           74.4        72.9     1.5  pts

Express Enplanements
Domestic                        715,564     716,544    (0.1)

                         Quarter To Date

                                   2010       2009    % Change

Express Revenue Passenger Miles (000)
Domestic                        566,320     556,889     1.7

Express Available Seat Miles (000)
Domestic                        779,260     792,963    (1.7)

Express Load Factor (%)
Domestic                           72.7        70.2     2.5 pts

Express Enplanements
Domestic                      2,086,054   2,047,523     1.9

                           Year To Date

                                  2010        2009    % Change

Express Revenue Passenger Miles (000)
Domestic                      1,022,820   1,027,244    (0.4)

Express Available Seat Miles (000)
Domestic                      1,487,007   1,554,384    (4.3)

Express Load Factor (%)
Domestic                           68.8        66.1     2.7 pts

Express Enplanements
Domestic                      3,756,668   3,801,409    (1.2)

              Consolidated US Airways Group, Inc.
                             June

                                  2010         2009  % Change

Consolidated Revenue Passenger Miles (000)

Domestic                      4,177,378    4,209,855    (0.8)
Atlantic                      1,172,871    1,078,380     8.8
Latin                           442,212      341,063    29.7
                               ---------    ---------
Total                         5,792,461    5,629,298     2.9

Consolidated Available Seat Miles (000)

Domestic                      4,833,480    4,825,054     0.2
Atlantic                      1,327,948    1,301,783     2.0
Latin                           540,006      401,324    34.6
                              ----------   ----------
Total                         6,701,434    6,528,161     2.7

Consolidated Load Factor (%)

Domestic                           86.4        87.2  (0.8) pts
Atlantic                           88.3        82.8   5.5  pts
Latin                              81.9        85.0  (3.1) pts
                              ----------  ----------
Total                              86.4        86.2   0.2  pts
Consolidated Enplanements

Domestic                      4,680,725   4,663,055     0.4
Atlantic                        284,776     277,193     2.7
Latin                           340,188     285,148    19.3
                              ----------  ----------
Total                         5,305,689   5,225,148     1.5

                         Quarter To Date

                                  2010       2009  % Change

Consolidated Revenue Passenger Miles (000)

Domestic                     11,894,770   12,326,353    (3.5)
Atlantic                      2,854,817    2,615,331     9.2
Latin                         1,347,021    1,140,800    18.1
                              ----------   ----------
Total                        16,096,608   16,082,484     0.1

Consolidated Available Seat Miles (000)

Domestic                     14,118,818   14,389,895    (1.9)
Atlantic                      3,367,068    3,257,131     3.4
Latin                         1,733,632    1,455,979    19.1
                              ----------   ----------
Total                        19,219,518   19,103,005     0.6

Consolidated Load Factor (%)

Domestic                           84.2        85.7  (1.5) pts
Atlantic                           84.8        80.3   4.5  pts
Latin                              77.7        78.4  (0.7) pts
                              ----------  ----------
Total                              83.8        84.2  (0.4) pts

Consolidated Enplanements

Domestic                     13,733,771  13,885,271    (1.1)
Atlantic                        700,593     672,727     4.1
Latin                         1,032,683     929,877    11.1
                              ----------  ----------
Total                        15,467,047  15,487,875    (0.1)

                          Year To Date

                                   2010         2009  % Change

Consolidated Revenue Passenger Miles (000)

Domestic                     22,448,994   23,368,637    (3.9)
Atlantic                      4,317,236    3,986,349     8.3
Latin                         2,840,094    2,506,470    13.3
                              ----------   ----------
Total                        29,606,324   29,861,456    (0.9)

Consolidated Available Seat Miles (000)

Domestic                     27,304,356   28,244,039    (3.3)
Atlantic                      5,488,584    5,337,068     2.8
Latin                         3,712,903    3,262,432    13.8
                              ----------   ----------
Total                        36,505,843   36,843,539    (0.9)

Consolidated Load Factor (%)

Domestic                           82.2         82.7    (0.5) pts
Atlantic                           78.7         74.7     4.0  pts
Latin                              76.5         76.8    (0.3) pts
                              ----------   ----------
Total                              81.1         81.0     0.1  pts

Consolidated Enplanements

Domestic                     25,941,441   26,615,716    (2.5)
Atlantic                      1,061,636    1,027,096     3.4
Latin                         2,119,803    2,008,220     5.6
                              ----------   ----------
Total                        29,122,880   29,651,032    (1.8)

    US Airways is also providing a brief update on notable
    company accomplishments during the month of June:

    * Announced a major expansion of its bilateral codeshare
      agreement with Star Alliance partner Spanair.  By way of
      Spanair's Madrid and Barcelona hubs, US Airways customers
      now have seamless access to destinations within Spain, the
      Canary Islands, continental Europe, and Africa.

    * Began daily year-round service to Los Cabos and Puerto
      Vallarta, Mexico, and resumed daily nonstop service to
      Baton Rouge, La. from its largest hub in Charlotte, N.C.

    * Launched daily year-round service to Halifax, Nova Scotia
      and daily seasonal service to Anchorage, Alaska from its
      hub at Philadelphia International Airport.

                      About US Airways

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

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

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

                       *     *     *

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

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

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

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


US CONCRETE: IRS Objects to Joint Chapter 11 Plan
-------------------------------------------------
BankruptcyData.com reports that numerous parties, including the
Internal Revenue Service and the Commonwealth of Pennsylvania
Department of Revenue, filed with the U.S. Bankruptcy Court
separate objections to U.S. Concrete's Joint Chapter 11 Plan of
Reorganization.

According to documents filed with the Court, the Plan provides
that "[t]he estimated total value available for distribution to
Holders of Allowed Claims and Allowed Interests, as applicable
(the 'Total Enterprise Value') consists of the estimated value of
the Reorganized Debtors' operations on a going-concern basis,
which includes the estimated value of the Reorganized Debtors' 60%
equity interest in the Michigan Joint Venture on a going-concern
basis. The valuation analysis assumes that the Effective Date
occurs on July 31, 2010 (the 'Assumed Effective Date') and is
based on the Financial Projections..Based on the Financial
Projections and solely for purposes of the Plan, Lazard estimates
that the Total Enterprise Value of the Reorganized Debtors falls
within a range from approximately $180 million to $208 million,
with a mid-point estimate of $194 million."

                        About U.S. Concrete

Houston, Tex.-based U.S. Concrete, Inc., aka RMX Industries, Inc.,
is a major producer of ready-mixed concrete, precast concrete
products and concrete-related products in select markets in the
United States.

The Company filed for Chapter 11 bankruptcy protection on
April 29, 2010 (Bankr. D. Del. Case No. 10-11407).  Patrick J.
Nash Jr., Esq., and Ross M. Kwasteniet, Esq., at Kirkland & Ellis
LLP, assist the Company in its restructuring effort as bankruptcy
counsel.  James E. O'Neill, Esq., Laura Davis Jones, Esq., and
Mark M. Billion, Esq., at Pachulski Stang Ziehl & Jones LLP, is
the Company's co-counsel.  Epiq Bankruptcy Solutions is the
Company's claims agent.

According to the schedules, the Company says that assets total
$389,160,000 while debts total $399,351,000.

The Debtor's affiliates, Alberta Investments, Inc., et al., filed
separate Chapter 11 petitions on April 29, 2010.


VEBLEN EAST: Section 341(a) Meeting Scheduled for August 11
-----------------------------------------------------------
The U.S. Trustee for Region 10 will convene a meeting of Veblen
East Dairy Limited Partnership's creditors on August 11, 2010, at
1:00 p.m.  The meeting will be held at 115 4th Ave SE, Room 206-7,
Federal Building, Aberdeen, SD 57401.

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

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

Veblen, South Dakota-based Veblen East Dairy Limited Partnership
filed for Chapter 11 bankruptcy protection on July 2, 2010 (Bankr.
D.S.D. Case No. 10-10146).  Thomas M. Tobin, Esq., at Tonner Tobin
and King, assists the Company in its restructuring effort.  The
Company estimated its assets and debts at $50,000,001 to
$100,000,000.

The Company's affiliate, Veblen West Dairy, LLP, filed a separate
Chapter 11 petition on April 7, 2010 (Case No. 10-10071).


VERTRUE INC: S&P Affirms 'B' Rating, Changes Outlook to Stable
--------------------------------------------------------------
Standard & Poor's Ratings Services revised its rating outlook on
Norwalk, Conn.-based Vertrue Inc. to stable from negative.  At the
same time, S&P affirmed its ratings on the company, including its
'B' corporate credit rating.

"The rating outlook revision and the 'B' corporate credit rating
reflect S&P's view that Vertrue will remain in compliance with its
financial covenants over the near-to-intermediate term, despite
softness in its marketing business," said Standard & Poor's credit
analyst Jeanne Shoesmith.

S&P expects Vertrue will cut operating expenses or reduce debt
balances to meet covenant step-downs if profitability does not
meaningfully improve.  S&P believes that the company could absorb
higher interest expense and could cover the cost of an amendment -
- should it need one -- if EBITDA does not rebound.  Like most
companies whose products and services are highly discretionary in
nature, Vertrue's profitability was severely affected by the
recession.  Still, the company has maintained moderate liquidity
and reduced debt leverage since its 2007 leveraged buyout (LBO).
Vertrue's cost reductions, higher billing rates, and good
operating performance in its online marketing solutions business,
Neverblue, have partially offset weakening operating trends.

The rating also reflects the company's limited business diversity,
vulnerability to pending regulatory changes, high debt leverage,
deteriorating earnings, aggressive covenant step-down schedule,
and modest liquidity.  The company's good market position in niche
consumer discount membership programs and its good recurring
revenue stream from renewals minimally offset these factors.

For the 12 months ended March 31, 2010, lease-adjusted debt to
EBITDA (after $2 million of management fees) was high at 5.0x, but
an improvement from approximately 6.0x in fiscal 2007.  Unadjusted
EBITDA coverage of interest was adequate at 2.4x for the 12 months
ended March 31, 2010.  The company converted roughly 56% of EBITDA
into discretionary cash flow for the 12 months ended March 31,
2010, up 46% in absolute dollar terms from the same period in
2009.  The improvement was related to a moderation of working
capital usage related to receivables for the discontinued health
management business.  S&P expects leverage to increase slightly
over the near term -- as a result of changes in marketing and
selling practices that the company has implemented in response to
potential legislation as well as a decline in spending on
marketing.  Both of those factors are expected to put pressure on
revenue.


VISTEON CORP: Distressed-Debt Investors Accused of Chicanery
------------------------------------------------------------
Bloomberg News reports that Visteon Corp.'s official creditor
committee accused distressed-debt investors of "chicanery" and
asked a judge for permission to investigate their actions in the
auto-parts maker's bankruptcy.

                         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)


WESTMORELAND COAL: BlackRock Inc. Reports 2.24% Equity Stake
------------------------------------------------------------
BlackRock Inc. disclosed holding 238,553 shares or roughly 2.24%
of the common stock of Westmoreland Coal Co. as of June 30, 2010.

Based in Colorado Springs, Colorado, Westmoreland Coal Company
(NYSE Amex:WLB) -- http://www.westmoreland.com/-- is the oldest
independent coal company in the United States.  The Company's coal
operations include coal mining in the Powder River Basin in
Montana and lignite mining operations in Montana, North Dakota and
Texas.  Its power operations include ownership of the two-unit
Roanoke Valley coal-fired power plant in North Carolina.

At March 31, 2010, the Company had total assets of
$778.518 million against total liabilities of $921.296 million and
non-controlling interest of $2.707 million, resulting in total
deficit of $142.778 million.  The Company's balance sheet at
March 31, 2010, showed strained liquidity: The Company had total
current assets of $119.022 million against total current
liabilities of $181.615 million.

Westmoreland Coal said there is substantial doubt about its
ability to continue as a going concern, citing its recurring
losses from operations, violation of a debt covenant by a
subsidiary, its working capital deficit, and its net capital
deficiency.

Westmoreland Resources, Inc., did not comply with its amended net
worth requirement contained in its Business Loan Agreement at
April 30, 2010, and does not expect to meet this requirement for
at least the next 12 months.  Westmoreland Coal has classified
WRI's $11.4 million term debt as a current liability.


WEYERHAEUSER COMPANY: Special Dividend Won't Affect Fitch's Rating
------------------------------------------------------------------
Weyerhaeuser Company's special dividend announcement has no impact
on its debt securities ratings, according to Fitch Ratings.
Weyerhaeuser announced that a special dividend of $5.6 billion,
10% of which would be payable in cash, has been declared by its
Board of Directors and will be paid to shareholders on Sept. 1,
2010.  The dividend is a purge of accumulated earnings and profits
calculated for U.S. federal tax purposes and is a prerequisite to
Weyerhaeuser's conversion to a REIT.

Fitch had downgraded Weyerhaeuser's long-term senior unsecured
debt and Issuer Default Ratings to 'BB+' in September 2009 and has
maintained a Negative Rating Outlook because of the uncertainty of
the recovery in Weyerhaeuser's construction related businesses.

The conversion to a REIT has defined economic benefits.  However,
the payment of these benefits to shareholders through an enhanced
dividend stream could lower the prospective cash flow coverage of
principal and interest and negatively affect debt ratings.

Weyerhaeuser is operating in a challenging environment.  Housing
starts, which directly influence Weyerhaeuser's business, have
been faltering as have the prices for lumber and panels which are
back to pricing levels near the close of last year.  Volumes have
improved but are still weak by historic standards.  There is a
high probability that this situation will not show a material
improvement for some time to come, which is the continuing basis
for the Negative Rating Outlook.


WINDSTREAM CORP: Fitch Puts 'BB+' Rating on $400 Million Notes
--------------------------------------------------------------
Fitch Ratings has assigned a 'BB+' rating to Windstream
Corporation's proposed offering of $400 million of senior
unsecured notes due 2018.  Windstream's Issuer Default Rating is
'BB+' and the Rating Outlook is Stable.

Proceeds from the offering will be used to reduce outstanding debt
on the company's revolving credit facility as well as for general
corporate purposes.  The debt outstanding on the revolving
facility is primarily due to the financing of the acquisition of
Iowa Telecommunications Services, Inc., on June 1, 2010.  To close
the transaction, Windstream issued approximately 26.7 million
shares of stock valued at $284 million, and -- using cash on hand
and revolver borrowings -- paid approximately $260 million in cash
(net of cash acquired) and repaid outstanding indebtedness of Iowa
Telecom of approximately $613 million.

Windstream's 'BB+' IDR incorporates expectations for the company
to generate strong operating and free cash flows and to have
access to ample liquidity.  Recent acquisitions have added
meaningful scale to the company, partly offsetting the effect of
competition on the company's operations, which is Fitch's primary
concern.

While leverage has increased as a result of four acquisitions
completed since the end of the fourth quarter of 2009, on a pro
forma basis the rise is relatively modest, and Fitch expects
leverage will return to historical levels in a relatively short
period as synergies are realized, and debt remains stable or
declines slightly.  In addition, Fitch believes that, while there
is integration risk as a result of the transactions, the company's
experience with acquiring and incorporating modest-sized
acquisitions, as well as the fact that the integration of earlier
acquisitions is completed or well underway, will reduce the
potential for operational issues.

Fitch expects leverage to be in the 3.4 times to 3.5x range on a
pro forma basis at the end of 2010.  Fitch estimates the
transactions increase leverage by approximately 0.2x, thus
increasing leverage slightly over the upper end of the company's
3.2x to 3.4x historical range.  To complete the four acquisitions,
Windstream used cash and debt, which in the aggregate was
approximately $1.7 billion, and issued approximately $550 million
in equity.  The acquired companies generated approximately
$330 million in historical annual EBITDA, prior to expected
operating expense synergies of approximately $85 million.

Windstream's liquidity on March 31, 2010 was strong, given
$580 million in cash on the balance sheet and availability of
approximately $492 million on its revolver (net of outstanding
letters of credit).  The company has extended the maturity of
$409 million of the $500 million revolving credit facility from
July 2011 to July 2013, with the remainder maturing in July 2011.
In October 2009, Windstream amended its senior secured term loan
facilities to extend their maturities.  The maturity of
$168.9 million of the $283 million outstanding on term loan A was
extended from July 2011 to July 2013.  The term loan B, which as
of March 31, 2010 had a $1.362 billion balance outstanding, now
has approximately $1.073 billion maturing in December 2015 rather
than in July 2013.  The amendment and extensions resulted in
certain increased fees, including increased interest rates on
loans with extended maturities.

Principal financial covenants in the credit facilities require a
minimum interest coverage ratio of 2.75x and a maximum leverage
ratio of 4.5x.  There are limitations on capital spending, and the
dividend is limited to the sum of excess free cash flow and net
cash equity issuance proceeds subject to pro forma leverage of
4.5x or less.

Other than the portion of the revolver and term loan A facility
maturing in 2011, upcoming maturities are nominal through 2012.
Liquidity is also supported by free cash flow, which Fitch
estimates will be in the $200 million to $300 million range for
2010.  Capital spending, per the company's guidance, is expected
to range from $360 million to $390 million.


WINDSTREAM CORPORATION: Moody's Puts 'Ba3' Rating $400 Mil. Notes
-----------------------------------------------------------------
Moody's Investors Service has assigned a Ba3 rating to Windstream
Corporation's proposed $400 million senior unsecured notes due
2018.  The company expects to use the net proceeds primarily to
repay the $300 million in net borrowings used to fund the cash
portion of the acquisition of Iowa Telecommunications Services,
Inc., which closed on June 1, 2010, and for general corporate
purposes.  Moody's expects Windstream to maintain its very good
liquidity, driven by healthy cash flow from operations.

Moody's has taken these rating actions:

Issuer: Windstream Corporation

  -- US$400M Senior Unsecured Regular Bond/Debenture, Assigned
     Ba3, LGD5 -- 71%

  -- Outlook -- Stable

Windstream's Ba2 corporate family rating broadly reflects the
outlook for ongoing modest wireline revenue declines and Moody's
expectations that the company will be able to reduce its adjusted
debt-to-EBITDA financial leverage which increased to 4.2x (as of
3/31/10) as a result of the debt that the company has taken on in
the past year to complete four acquisitions.  Moody's estimates
that including the full benefit of EBITDA from its acquisitions,
on a proforma basis,

Windstream's adjusted debt-to-EBITDA leverage is about 3.7x.

Moody's also notes that increasing competition will continue to
constrain revenues for all incumbent wireline telcos, which will
pressure Windstream's EBITDA and cash flow.  However, according to
Moody's Vice President -- Senior Credit Officer, "Windstream,
similar to other rural operators, still dominates the high-margin
business of providing local phone service in rural areas of the
US, where competition is not as fierce as in the urban markets.
The recent acquisitions have increased the company's scale in its
incumbent wireline operations, while the acquisition of NuVox
offers the potential to grow revenues in the business sector."

Moody's believes the company's adjusted leverage should trend back
to about 3.5x by mid-2011 as it realizes the synergy benefits from
its recent acquisitions.  These levels are consistent with the
credit profile of a Ba2 - Stable corporate family rating.  Moody's
also notes that the Company's management team has a good track
record for meeting its leverage commitments.

Moody's most recent rating action for Windstream was on
December 15, 2009.  At that time, Moody's assigned a Ba3 rating to
the company's senior unsecured note offering.

Windstream, headquartered in Little Rock, AR, is an ILEC providing
telecommunications services in 21 states and generated about
$3.1 billion in annual revenues in the twelve months ended
3/31/2010.


WINDSTREAM CORP: S&P Assigns 'B+' Rating on $400 Mil. Notes
-----------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its issue-
level and recovery ratings to Little Rock, Ark.-based incumbent
local exchange carrier Windstream Corp.'s proposed $400 million of
senior notes due 2018 to be issued under rule 144A with
registration rights.  S&P rated the notes 'B+' with a recovery
rating of '5', which indicates expectations for modest (10%-30%)
recovery in the event of payment default.  The company will use
the proceeds to repay debt currently drawn under the senior
secured revolver and for general corporate purposes.

At the same time, S&P affirmed all other ratings on Windstream,
including the 'BB-' corporate credit rating.  The outlook is
stable.  Total debt outstanding as of March 31, 2010, was about
$6.3 billion.

"The ratings on Windstream continue to reflect an aggressive
shareholder-oriented financial policy with a commitment to a
substantial common dividend, which limits potential debt
reduction," said Standard & Poor's credit analyst Allyn Arden.
Other factors include competition from wireless substitution and
cable telephony, which has resulted in access-line losses and
margin pressure; an aggressive acquisition strategy; and declining
revenues from its mature local telephone business.

Tempering factors include the company's still-dominant position as
the leading provider of local and long-distance telecommunications
services in less competitive and geographically diverse secondary
and tertiary markets, growth from digital subscriber line
services, still-healthy EBITDA margins, and solid free operating
cash flow.


ZALE CORP: BlackRock Inc. Pares Stake to 3.11%
----------------------------------------------
BlackRock, Inc., disclosed holding 997,011 shares or roughly 3.11%
of the common stock of Zale Corp. as of June 30, 2010.

As reported by the Troubled Company Reporter on February 11, 2010,
BlackRock disclosed that as of December 31, 2009, it may be deemed
to beneficially own 1,620,943 shares or roughly 5.06% of Zale
common stock.

Dallas, Texas-based Zale Corporation (NYSE: ZLC) --
http://www.zalecorp.com/-- is a specialty retailer of diamonds
and other jewelry products in North America, operating roughly
1,900 retail locations throughout the United States, Canada and
Puerto Rico, as well as online.  Zale Corporation's brands include
Zales Jewelers, Zales Outlet, Gordon's Jewelers, Peoples
Jewellers, Mappins Jewellers and Piercing Pagoda.  Zale also
operates online at www.zales.com, www.zalesoutlet.com and
www.gordonsjewelers.com

As reported by the Troubled Company Reporter on February 10, 2010,
The Deal.com's Sara Behunek reported that analysts said bankruptcy
looms for Zale if it fails to restructure its debt and put in
place a solid merchandising strategy.


* Class Bolsters Bond Suit Against Orrick, Calif. Bank
------------------------------------------------------
Bankruptcy Law360 reports that a putative class of bond purchasers
has beefed up on expert witnesses and invoked California bond law
in hopes of proving that Orrick Herrington & Sutcliffe LLP broke
the law when it advised a bank to issue $77.6 million in bonds to
a museum that later went bankrupt.

The class lodged a second amended complaint Friday in the U.S.
District Court for the Eastern District of California, a month
after Judge Garland Burrell Jr. dismissed the suit, according to
Law360.


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------

July 7-10, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Northeast Bankruptcy Conference
        Ocean Edge Resort, Brewster, Massachusetts
           Contact: 1-703-739-0800; http://www.abiworld.org/

July 14-17, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Southeast Bankruptcy Conference
        The Ritz-Carlton Amelia Island, Amelia, Fla.
           Contact: http://www.abiworld.org/

Aug. 3, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Atlanta Consumer Bankruptcy Skills Training
        Georgia State Bar Building, Atlanta, Ga.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Aug. 5-7, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Mid-Atlantic Bankruptcy Workshop
        Hyatt Regency Chesapeake Bay, Cambridge, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Aug. 11-14, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Hawai.i Bankruptcy Workshop
        The Fairmont Orchid, Big Island, Hawaii
           Contact: 1-703-739-0800; http://www.abiworld.org/

Sept. 14, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     ABI/NYIC Golf and Tennis Fundraiser
        Maplewood Golf Club, Maplewood, N.J.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Sept. 20, 2010 (tentative)
  AMERICAN BANKRUPTCY INSTITUTE
     Complex Financial Restructuring Program
        Fordham Law School, New York, N.Y.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Sept. 23-25, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Southwest Bankruptcy Conference
        Four Seasons Las Vegas, Las Vegas, Nev.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 1, 2010 (tentative)
  AMERICAN BANKRUPTCY INSTITUTE
     ABI/UMKC Midwestern Bankruptcy Institute
        Kansas City Marriott Downtown, Kansas City, Kan.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 6-8, 2010
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        JW Marriott Grande Lakes, Orlando, Florida
           Contact: http://www.turnaround.org/

Oct. 11, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Chicago Consumer Bankruptcy Conference
        Standard Club, Chicago, Ill.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 15, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     NCBJ/ABI Educational Program
        Hilton New Orleans Riverside, New Orleans, La.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 29, 2010 (tentative)
  AMERICAN BANKRUPTCY INSTITUTE
     International Insolvency Symposium
        The Savoy, London, England
           Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. __, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Delaware Views from the Bench and Bankruptcy Bar
        Hotel du Pont, Wilmington, Del.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. 11, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Detroit Consumer Bankruptcy Conference
        Hyatt Regency Dearborn, Dearborn, Mich.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. 29, 2010
  RENAISSANCE AMERICAN MANAGEMENT, INC. & BEARD GROUP, INC.
     17th Annual Distressed Investing Conference
        The Helmsley Park Lane Hotel, New York City
           Contact: 1-903-595-3800;
                    http://www.renaissanceamerican.com/

Dec. 9-11, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Winter Leadership Conference
        Camelback Inn, a JW Marriott Resort & Spa,
        Scottsdale, Ariz.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Dec. 2-4, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     22nd Annual Winter Leadership Conference
        Camelback Inn, Scottsdale, Arizona
           Contact: 1-703-739-0800; http://www.abiworld.org/

Jan. 20-21, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Rocky Mountain Bankruptcy Conference
        Westin Tabor Center, Denver, Colo.
           Contact: 1-703-739-0800; http://www.abiworld.org/

January 26-28, 2011
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Distressed Investing Conference
        Aria Las Vegas
           Contact: http://www.turnaround.org/

Mar. 31-Apr. 3, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Annual Spring Meeting
        Gaylord National Resort & Convention Center,
        National Harbor, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

June 9-12, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Central States Bankruptcy Workshop
        Grand Traverse Resort and Spa, Traverse City, Mich.
              Contact: http://www.abiworld.org/

July 21-24, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Northeast Bankruptcy Conference
        Hyatt Regency Newport, Newport, R.I.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Aug. 4-6, 2011  (tentative)
  AMERICAN BANKRUPTCY INSTITUTE
     Mid-Atlantic Bankruptcy Workshop
        Hotel Hershey, Hershey, Pa.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 14, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     NCBJ/ABI Educational Program
        Tampa Convention Center, Tampa, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 25-27, 2011
  TURNAROUND MANAGEMENT ASSOCIATION
     Hilton San Diego Bayfront, San Diego, CA
        Contact: http://www.turnaround.org/

Dec. 1-3, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     23rd Annual Winter Leadership Conference
        La Quinta Resort & Spa, La Quinta, Calif.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Apr. 19-22, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Annual Spring Meeting
        Gaylord National Resort & Convention Center,
        National Harbor, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

July 14-17, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Southeast Bankruptcy Workshop
        The Ritz-Carlton Amelia Island, Amelia Island, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Aug. 2-4, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Mid-Atlantic Bankruptcy Workshop
        Hyatt Regency Chesapeake Bay, Cambridge, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. 29 - Dec. 2, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Winter Leadership Conference
        JW Marriott Starr Pass Resort & Spa, Tucson, Ariz.
           Contact: 1-703-739-0800; http://www.abiworld.org/

The Meetings, Conferences and Seminars column appears in the
Troubled Company Reporter each Wednesday.  Submissions via
e-mail to conferences@bankrupt.com are encouraged.

Last Updated: June 15, 2010



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Howard
C. Tolentino, Joseph Medel C. Martirez, Denise Marie Varquez,
Philline Reluya, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2010.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


                  *** End of Transmission ***