TCR_Public/100716.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Friday, July 16, 2010, Vol. 14, No. 195

                            Headlines

1800HOTELS4U, LLC: Files for Chapter 11 Bankruptcy Protection
1800HOTELS4U, LLC: Voluntary Chapter 11 Case Summary
1ST FINANCIAL: Voluntary Chapter 11 Case Summary
ADVANCED MICRO: FMR LLC Discloses 11.368% Equity Stake
AAER INC: Initial CCAA Stay Period Extended Until Aug. 11

ALTEGRITY INC: Moody's Affirms Corporate Family Rating at 'B3'
AMELIA PLANTATION: Court Sets Noble-Led Auction for Aug. 23
AMERICAN APPAREL: FMR LLC No Longer Holds Shares
AMERICAN APPAREL: Ron Burkle Pays $5.9 Million for 6% Stake
AMERICAN INT'L: Said to Weigh Giving Stake in Rescue Vehicles

AMERICAN MEDIA: Reaches Debt-to-Equity Agreement with Bondholders
AMR CORP: Nears British Airways Alliance as EU Backs Deal
ARROW AIR: Has Cash Use Approval for Liquidation
AVENTINE RENEWABLE: Distributes Stock as Part of Plan
AXIA INC: Sets Conversion to Chapter 7 Effective Aug. 1

BLACK CROW: Has Until November 8 to File Reorganization Plan
BOSTON PROPERTIES: Fitch Affirms Preferred Stock Rating at 'BB+'
BROWN PUBLISHING: Creditors Sue to Block Lenders' Credit Bid
BUILDERS FINANCIAL: Case Summary & 17 Largest Unsecured Creditors
BULK PETROLEUM: Convenience Stores Acquires 63 Stations for $11MM

CAPITOL INVESTMENTS: CEO Indicted for $880 Million Ponzi Scheme
CARACO PHARMACEUTICAL: Receives NYSE Amex Notice of Non-Compliance
CARMEL INVESTMENTS: Case Summary & 20 Largest Unsecured Creditors
CARMELO A. GONZALEZ - ALPHA: Case Summary & Creditors List
CARMELO A. GONZALEZ - BRAVO: Case Summary & Creditors List

CELEBRITY RESORTS: Exclusivity Extended; Meyers Files Lawsuit
CENTAUR LLC: Committee Finds Defects in Lender Collateral
CHARLES DIETZ: Voluntary Chapter 11 Case Summary
CHEMTURA CORP: Equity Committee Contemplates Alternative Plan
CHEMTURA CORP: Seeks to Solicit Votes for Amended Plan

CHEMTURA CORP: Files 2009 Report for Employee Savings Plan
CHEMTURA CORP: Wins Court Okay to Settle Rebate Spat with Exxon
CHRYSLER LLC: Arbitration with Auto Dealers Nears End
CHRYSLER LLC: Dispute Arises on Placement of Comma
CHRYSLER LLC: Idles Toledo, Ohio Assembly Plant

CITIGROUP INC: To Release Second Quarter Earnings Today
CITIGROUP INC: Admits Misclassifying Short-Term Trades
CLINTON ADAMS: Case Summary & 8 Largest Unsecured Creditors
COSI, INC: Gets Nasdaq Notice of Minimum Bid Price Non-Compliance
DANIEL BRADFORD: Case Summary & 20 Largest Unsecured Creditors

DBO HOLDINGS: S&P Affirms Corporate Credit Rating at 'B'
DUN & BRADSTREET: CEO Dumps 6,948 Shares for Tax Purposes
EMMIS COMMUNICATIONS: Director Bayh Reports Sale of Shares
EMMIS COMMUNICATIONS: Third Point Raises Preferreds Stake to 11%
EVERYCALL COMMUNICATIONS: Voluntary Chapter 11 Case Summary

EXPRO HOLDINGS: Moody's Downgrades Corporate Family Rating to 'B3'
EXTREME REALTY: Voluntary Chapter 11 Case Summary
FIRST BANCORP: NYSE Notes of Stock Trading Under $1 for 30 Days
FLOYD AND BEASLEY: To Shut Down for Good; 120 to Lose Jobs
FRASER PAPERS: Generates Negative EBITDA of $0.8 Million

GEMMA CALLISTE: Case Summary & 16 Largest Unsecured Creditors
GENERAL GROWTH: Files Registration for Exchangeable Notes
GENERAL GROWTH: Proposes Epiq as Plan Voting Agent
GENERAL GROWTH: Seeking Approval of Disclosure Statement
GENERAL MOTORS: Arbitration With Auto Dealers Nears End

GENERAL MOTORS: Edmunds CEO Questions Rush to Have IPO
GENERAL NUTRITION: Moody's Gives Pos. Outlook, Affirms 'B3' Rating
GLOUCESTER ENGINEERING: Davis-Standard Wants Court to Block Sale
GPX INTERNATIONAL: Customs Opposes Chapter 11 Liquidation Plan
GRAY TELEVISION: Capital World Investors Reports 10.2% Stake

GRAY TELEVISION: Offers to Exchange Unregistered 10-1/2% Notes
GREEKTOWN HOLDINGS: Plan Takes Effect; Litigation Trust Formed
GSI GROUP: Nets 80% from Rights Offering; July 23 Emergence Seen
GULF FREEWAY: Wants Access to 1st International's Cash Collateral
HEALTHCARE PROVIDERS: Organizational Meeting Set for July 23

HENRY YOUN: Case Summary & 12 Largest Unsecured Creditors
HOTELS UNION SQUARE: To Be Sold to Host Venture
JERMAX INC: Files for Chapter 11 Bankruptcy Protection
JETBLUE AIRWAYS: Federated Investors Holds 3.8% of Shares
JOEL HARDEN: Voluntary Chapter 11 Case Summary

JUMPING BEAN: Case Summary & 20 Largest Unsecured Creditors
LAKEVIEW AT CAROLINA: Court Denies Lender's Plea for Dismissal
LAKEVIEW AT CAROLINA: Receivers Continues Management of Property
LEHMAN BROTHERS: Suit Against JPMorgan Trial Date Set For 2012
LEHMAN BROTHERS: Examiner Discharged, May Still Give Assistance

LEHMAN BROTHERS: Lawsuit vs. JPMorgan Set for Trial in 2012
LESLIE CONTROLS: Organizational Meeting to Form Panel on July 22
LINCOLNSHIRE CAMPUS: Official Residents' Committee Appointed
LINCOLNSHIRE CAMPUS: Redwood Complains of Excessive Break-up Fee
LINCOLNSHIRE CAMPUS: Wants BMC Group as Claims & Balloting Agent

LOCATEPLUS HOLDINGS: Appoints Slaughter as Director of Operations
LOCATEPLUS HOLDINGS: Taps Kaiser as Exec. VP & Chief Risk Officer
MAJESTIC LIQUOR: Focus Management Appointed as Financial Advisor
MEG ENERGY: Moody's Reviews 'B2' Rating on Senior Secured Loan
MERUELO MADDUX: U.S. Trustee Adds 3 Members to Creditors Committee

METRO-GOLDWYN-MAYER: Lenders Extend Waiver Until Sept. 15
METRO-GOLDWYN-MAYER: Lions Gate Said to Approach Creditors
NEVADA STAR: Creditors Committee Taps Lewis R. Landau as Counsel
NEXCEN BRANDS: Proposed Asset Sale Recommended by 2 Advisory Firms
NEXITY FIN'L: Pursues Prepackaged Chapter 11

NEXTWAVE WIRELESS: April 3 Balance Sheet Upside-Down by $277.3MM
NICHOLAS DAGNONE: Voluntary Chapter 11 Case Summary
NORTEL NETWORKS: Avaya Not Challenging Terms of Sale
NORTEL NETWORKS: Court OKs Fees for November to January
NORTEL NETWORKS: Ernst & Young to Provide Additional Services

NORTEL NETWORKS: U.S. Trustee Opposes Retiree Benefits Termination
PARAMOUNT RESOURCES: Moody's Upgrades Corp. Family Rating to 'B3'
PECAN HILLS: Case Summary & 6 Largest Unsecured Creditors
PETER GETZ: Case Summary & 19 Largest Unsecured Creditors
PARAMOUNT RESOURCES: Moody's Upgrades Corp. Family Rating to 'B3'

POINT BLANK: Creditors Committee Seeks Trustee or Examiner
PROLIANCE INTERNATIONAL: Cases Converted to Chapter 7
RICHWAL LLC: Case Summary & 15 Largest Unsecured Creditors
RIMROD CORPORATION: Case Summary & 12 Largest Unsecured Creditors
RODNEY JESSEN: Voluntary Chapter 11 Case Summary

RONNY ST. LOUIS: Case Summary & 20 Largest Unsecured Creditors
SABRE HOLDINGS: S&P Affirms 'B' Rating; Outlook Now Positive
SALANDER-O'REILLY: Proprietor Faces State Jail Term
SAVVIS INC: Moody's Assigns Corporate Family Rating at 'B1'
SEDGEBROOK INC: U.S. Trustee Seeks Hearing on Ombudsman

SEDONA DEVELOPMENT: U.S. Trustee Unable to Form Creditors Panel
SEDONA DEVELOPMENT: Files Schedules of Assets and Liabilities
SEQUA CORPORATION: Moody's Affirms 'Caa1'; Outlook Now Positive
SHORES PROPERTIES: Case Summary & 20 Largest Unsecured Creditors
SMITHFIELD FOODS: S&P Assigns 'B-' Rating on Senior Unsec. Debt

SOUND WORLDWIDE: Significant Operating Loss Cue Going Concern
SPHERIS INC: Receives Approval of Disclosure Statement
STATION CASINOS: Can Send Plan to Creditors for Voting
SUNWEST MANAGEMENT: District Court Confirms Reorganization Plan
SYNERGY TRANSPORT: Case Summary & 15 Largest Unsecured Creditors

TERESA GIUDICE: Faces Ch. 7 Trustee Suit for Hiding Assets
TEXAS RANGERS: Now Has Ryan Group-Led Auction on August 4
TRIBUNE CO: Seeks to Limit LBO Debate During Plan Hearing
TRUMP ENTERTAINMENT: New Owners Plan to Sell Casino
WEYERHAEUSER COMPANY: Moody's Affirms Ba1 Corporate Family Rating

WHITE ENERGY: Files Third Amended Chapter 11 Plan

* June Bankruptcy Filings By Multi-Million Dollar Companies
* Blockbuster Leads Companies Nearing Chapter 11

* Claims Trading Activity Declines in June, Says SecondMarket
* Colony Capital Wins Bid for $1.85-Bil. in CRE Loans
* FDIC OKs New Examination Authority in Wake of WaMu Failure
* Regulators to Assist Fin'l Institutions Hit by Oil Spill

* Alejandro Landa Joins Chadbourne & Parke Mexico City Office
* Focus Management Names Robert Starzyk as Managing Director
* Siller Wilk LLP to Change Name to Wilk Auslander LLP

* BOOK REVIEW: The Executive Guide to Corporate Bankruptcy

                            *********

1800HOTELS4U, LLC: Files for Chapter 11 Bankruptcy Protection
-------------------------------------------------------------
1800Hotels4U, LLC, doing business as 1800Hotels.com, filed for
Chapter 11 on July 13, 2010 (Bankr. M.D. Fla. Case No. 10-16648).

Margaret Cashill and Michael Hinman, staff writers at Tampa Bay
Business Journal, reports that 1800Hotels4U is seeking an
injunction from the bankruptcy court in Tampa against some of its
wholesalers, contending they have stopped supplying hotel rooms
for 1800Hotels' customers.  Affiliate Happy Duck Limited has filed
a lawsuit against wholesalers.

1800Hotels4U estimated assets between $1,000,000 and $10,000,000
and liabilities are between $100,001 and $500,000.


1800HOTELS4U, LLC: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: 1800Hotels4U, LLC
          dba 1800Hotels.com
        215 N. Howard Street, Suite 200
        Tampa, FL 33606

Bankruptcy Case No.: 10-16648

Chapter 11 Petition Date: July 13, 2010

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

Judge: Caryl E. Delano

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

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

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

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

The petition was signed by Graham J. Peakin, managing director.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Happy Duck Limited                    10-16655            07/12/10
  Assets: $1,000,001 to $10,000,000
  Debts: $1,000,001 to $10,000,000


1ST FINANCIAL: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: 1st Financial Services,LLC
        400 S. Colorado Blvd., Suite 820
        Denver, CO 80246-1240

Bankruptcy Case No.: 10-27284

Chapter 11 Petition Date: July 12, 2010

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

Judge: Michael E. Romero

Debtor's Counsel: Robert Padjen, Esq.
                  5290 DTC Parkway, Suite 150
                  Englewood, CO 80111
                  Tel: (303) 830-3173
                  E-mail: rp@jlrplaw.com

Scheduled Assets: $1,490,000

Scheduled Debts: $3,515,247

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

The petition was signed by Jeffry C. Eisnaugle, owner/member.


ADVANCED MICRO: FMR LLC Discloses 11.368% Equity Stake
------------------------------------------------------
Boston, Massachusetts-based FMR LLC and Edward C. Johnson 3d
disclosed holding 77,229,219 shares or roughly 11.368% of the
common stock of Advanced Micro Devices Incorporated as of June 30,
2010.

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
33,796,418 shares or 4.975% of AMD common stock outstanding as a
result of acting as investment adviser to various investment
companies registered under Section 8 of the Investment Company Act
of 1940.

The number of AMD shares owned by the investment companies at
June 30, 2010, included:

     -- 1,923,788 shares of Common Stock resulting from the
        assumed conversion of $54,020,000 principal amount of
        ADVANCED MICRO CV 6% 5/15 (35.6125 shares of Common Stock
        for each $1,000 principal amount of debenture);

     -- 3,104,163 shares of Common Stock resulting from the
        assumed conversion of $87,165,000 principal amount of
        ADVANCED MICRO CV 6% 5/15 (35.6125 shares of Common Stock
        for each $1,000 principal amount of debenture);

     -- 125,733 shares of Common Stock resulting from the assumed
        conversion of $2,531,000 principal amount of ADVANCED
        MICRO CONV 5.75% 8/12 (49.6771 shares of Common Stock for
        each $1,000 principal amount of debenture).

                   About Advanced Micro Devices

Headquartered in Sunnyvale, California, Advanced Micro Devices
Inc. (NYSE: AMD) -- http://www.amd.com/-- provides innovative
processing solutions in the computing, graphics and consumer
electronics markets.

                          *     *     *

Advanced Micro carries a 'B-' corporate credit rating from
Standard & Poor's and a 'Ba3' corporate family rating from
Moody's.

Standard & Poor's Ratings Services said it placed its 'B-'
corporate credit and senior unsecured ratings on Sunnyvale,
Calif.-based graphics and microprocessor designer Advanced Micro
Devices Inc. on CreditWatch with positive implications.


AAER INC: Initial CCAA Stay Period Extended Until Aug. 11
---------------------------------------------------------
AAER Inc. disclosed that pursuant to an order of the Quebec
Superior Court issued on July 7, 2010, the initial order granted
under the Companies' Creditors Arrangement Act (Canada) in favour
of AAER on April 8, 2010, as subsequently extended from time to
time by the court, has now been further extended until August 11,
2010 to allow for the filing of a plan of arrangement and for the
holding of a creditors' meeting pursuant to the CCAA.

Subject to certain conditions, 7549032 Canada Inc., a wholly-owned
subsidiary of Pioneer Power Solutions Inc., has agreed to sponsor
a plan of arrangement for the continuation of AAER.  Upon approval
of the Plan by AAER's creditors, Pioneer will contribute an amount
of $450,000 to be used to fund the Plan and the filing of articles
of reorganization.  Under the Plan, Pioneer will subscribe to the
new AAER equity and will become the Corporation's sole
shareholder.

Pursuant to the July 7 Order, Samson Belair / Deloitte Touche, in
its capacity as monitor for AAER, will send to each creditor of
the Corporation a notice of the creditors' meeting, a copy of the
Plan and a proxy form for the creditors' meeting to be held on
August 9, 2010 in Bromont, Quebec, for the purposes of considering
and, if deemed advisable, approving the Plan.

                         About AAER Inc.

AAER Inc. -- http://www.aaer.ca-- is a wind turbine manufacturer
located in Bromont, Quebec that manufactures and maintains high
capacity 1 MW or more wind turbines principally for the North
American market.  Its strategy is to progressively build its
products' components to provide a high level of reliability and
competitive pricing to its customers.  AAER uses a portfolio of
proven European technologies to ensure the performance of its
turbines in various wind conditions and terrains. Its stock is
listed on the TSX Venture Exchange.


ALTEGRITY INC: Moody's Affirms Corporate Family Rating at 'B3'
--------------------------------------------------------------
Moody's Investors Service affirmed all existing ratings of
Altegrity, Inc., including the B3 Corporate Family Rating.  At the
same time, Moody's assigned a B1 rating to Altegrity's proposed
$550 million term loan and a Caa2 rating to $210 million in
proposed senior unsecured notes.  The outlook was raised to
positive from stable.

On June 6, 2010, Altegrity entered into a definitive agreement to
acquire Kroll, Inc., a subsidiary of Marsh & McLennan Companies,
Inc. (Baa2, stable), at a transaction valued at $1.13 billion plus
fees and expenses.  The acquisition is being financed by a new
$550 million term loan, $210 million of privately placed senior
unsecured notes, and approximately $450 million of new capital
from the financial sponsor (Providence Equity Partners) consisting
of $400 million in equity and $50 million of zero coupon junior
subordinated notes.  The transaction is anticipated to close in
the third quarter.

Moody's views the proposed transaction favorably as the large
equity infusion reduces financial leverage by about 1.5 turns and
materially improves cushion under financial covenants, which had
become tight.  The acquisition enhances the combined company's
product diversity through the addition of Kroll's Ontrack brand
for electronic data discovery and reduces Altegrity's reliance on
Office of Personnel Management contracts.  Additionally, potential
synergies and scale may be realized in the screening and
consulting segments, which are complementary businesses.

While the Kroll acquisition is substantially larger than any of
Altegrity's previous acquisitions and inherent integration risks
exist in a transaction of this size, Moody's views such risks to
be partially mitigated by the familiarity of Altegrity's
management team with the Kroll business.

Nonetheless, Altegrity's B3 CFR continues to be constrained by
high financial leverage, minimal external liquidity, and the
upcoming maturity of the OPM contracts.  Pro forma for the
transaction and reflecting Moody's standard adjustments, financial
leverage is estimated at 6.8 times as of March 31, 2010 and is not
expected to fall below 6 times in the near term.  Altegrity's
existing $90 million revolver has just $2 million available after
consideration of letters of credit and is not being upsized as
part of the transaction.  However, liquidity is expected to be
supported by modest cash flow generation over the next several
quarters and a post-transaction cash balance of about $75 million.
Altegrity's contracts with the OPM are scheduled to expire in 2011
and represent about 27% of the combined company's pro forma
revenues.  While Altegrity is reportedly the largest external
provider of background investigative services to the US government
and has long standing relationships with the OPM, both pricing and
volumes could come under pressure through the recompete process.

The positive outlook reflects the potential for earnings growth if
the Kroll acquisition is successfully integrated and anticipated
synergies are realized.  Additionally, an improvement in
macroeconomic conditions, such as employment trends and merger and
acquisition activity, could lead to a rebound in demand for
commercial pre-employment screening services and consulting
services.

Moody's assigned these ratings to the proposed new instruments:

  -- $550 million first lien term loan due 2015, B1 (LGD3, 31%)

  -- $210 million senior unsecured notes due 2015, Caa2 (LGD5,
     81%)

Moody's affirmed these ratings:

  -- Corporate Family Rating, B3

  -- Probability of Default Rating, B3

  -- $90 million first lien revolver due 2013, B1 (LGD3, 31%)

  -- $806 million first lien term loans due 2015

  -- $290 million senior unsecured notes due 2015, Caa2 (LGD5,
     81%)

  -- $150 million senior subordinated notes due 2016, Caa2 (LGD6,
     94%)

The ratings are subject to the conclusion of the proposed
transaction and Moody's review of final documentation.

The previous rating action on Altegrity occurred on January 5,
2009, when Moody's affirmed the ratings.  The last issuer comment
was released on June 8, 2010 after Altegrity's announcement of the
Kroll acquisition.

Altegrity, Inc, is a global screening and security solutions
company headquartered in Falls Church, Virginia.  Kroll, Inc., is
a leading risk consulting company based in New York.  On a pro
forma basis, revenue for the twelve months ended March 31, 2010,
was approximately $1.5 billion.


AMELIA PLANTATION: Court Sets Noble-Led Auction for Aug. 23
-----------------------------------------------------------
CityBiz Real Estate says the U.S. Bankruptcy Court for the Middle
District of Florida set an Aug. 23, 2010 auction for Amelia Island
Plantation's assets.

According to the report, the Company has tapped The Plasencia
Group Inc. to conduct the auction.  Noble Hospitality Fund
Acquisitions LLC has emerged as the stalking horse bidder at
$47.4 million.  The deadline to prequalify as a bidder is July 22.

Amelia Island Plantation owns a 1,350-acre resort on Amelia
Island in Florida.  The resort has 249 rooms and three
golf courses.  The property owes $28.4 million on a first mortgage
held by an affiliate of Prudential Retirement Insurance & Annuity
Co.  The collateral is said by the resort to be worth $46 million.

Amelia Island filed for Chapter 11 on Nov. 13, 2009 (Bankr. M.D.
Fla. Case No. 09-09601).  The petition says assets and debt both
exceed $50 million.


AMERICAN APPAREL: FMR LLC No Longer Holds Shares
------------------------------------------------
FMR LLC and Edward C. Johnson 3d disclosed that they no longer
hold shares of American Apparel Inc. as of July 9, 2010.

American Apparel, Inc. (NYSE Amex: APP) is a vertically integrated
manufacturer, distributor, and retailer of branded fashion basic
apparel based in downtown Los Angeles, California.  The Company
operated 280 retail store locations as of March 31, 2010.  It has
operations in several countries, including the United States,
Canada, Mexico, Brazil, United Kingdom, Austria, Belgium, France,
Germany, Italy, the Netherlands, Spain, Sweden, Switzerland,
Israel, Australia, Japan, South Korea, and China.  American
Apparel also operates a leading wholesale business that supplies
high quality T-shirts and other casual wear to distributors and
screen printers.  In addition to its retail stores and wholesale
operations, American Apparel operates an online retail e-commerce
Web site at http://www.americanapparel.com/

American Apparel, Inc., on June 23, 2010, entered into a Third
Amendment to its Credit Agreement, dated as of March 13, 2009,
among the Company, in its capacity as borrower, certain
subsidiaries of the Company, in their capacity as facility
guarantors, Wilmington Trust FSB, in its capacity as
administrative agent and collateral agent, Lion Capital (Americas)
Inc., as a lender, Lion/Hollywood L.L.C., as a lender, and other
lenders from time to time party thereto.

The Third Amendment amends the Lion Credit Agreement to, among
other things, replace the Total Debt to Consolidated EBITDA
financial covenant with a minimum Consolidated EBITDA financial
covenant, tested on a quarterly basis.

In May, American Apparel informed the Securities and Exchange
Commission it would delay the filing of its quarterly report on
Form 10-Q for the period ended March 31, 2010.  American Apparel
said it needs additional time to complete certain reviews and
analyses with respect to the financial statements and related
disclosures to be included in its Form 10-Q.


AMERICAN APPAREL: Ron Burkle Pays $5.9 Million for 6% Stake
-----------------------------------------------------------
Ronald W. Burkle, managing member of The Yucaipa Companies LLC,
disclosed acquiring 4,310,300 shares of American Apparel Inc.
Common Stock in various transactions in June.  The number of
shares represents approximately 6.0% of American Apparel Common
Stock.

He may be deemed the direct beneficial owner of the shares.  The
shares were bought between June 10 and 21.

The total amount of funds required to acquire the Common Stock was
$5,929,547.45, net of commissions.  All funds were personal funds.

Mr. Burkle currently holds his shares of Common Stock for
investment purposes.  However, Mr. Burkle intends to closely
monitor the Company's performance and may modify his plans in the
future depending on his evaluation of various factors, including
the investment potential of the Common Stock, the Company's
business prospects and financial position, other developments
concerning the Company and its competitors, opportunities that may
be available to the Company, the price level and availability of
the Common Stock, available opportunities to acquire or dispose of
the Common Stock, realize trading profits or minimize trading
losses, conditions in the securities markets and general economic
and industry conditions, reinvestment opportunities, developments
relating to the business of Mr. Burkle and other factors deemed
relevant by Mr. Burkle.  Mr. Burkle may communicate with, and
express his views to, other persons regarding the Company,
including, without limitation, the board of directors and
management of the Company, other shareholders of the Company and
potential strategic or financing partners.

Mr. Burkle may in the future exercise any and all of his rights as
shareholders of the Company in a manner consistent with his equity
interests.  Mr. Burkle may take such actions with respect to his
holdings in the Company as he deem appropriate in light of
circumstances existing from time to time.   In addition, Mr.
Burkle may from time to time enter into or unwind hedging or other
derivative transactions with respect to the Common Stock.

                      About American Apparel

American Apparel, Inc. (NYSE Amex: APP) is a vertically integrated
manufacturer, distributor, and retailer of branded fashion basic
apparel based in downtown Los Angeles, California.  The Company
operated 280 retail store locations as of March 31, 2010.  It has
operations in several countries, including the United States,
Canada, Mexico, Brazil, United Kingdom, Austria, Belgium, France,
Germany, Italy, the Netherlands, Spain, Sweden, Switzerland,
Israel, Australia, Japan, South Korea, and China.  American
Apparel also operates a leading wholesale business that supplies
high quality T-shirts and other casual wear to distributors and
screen printers.  In addition to its retail stores and wholesale
operations, American Apparel operates an online retail e-commerce
Web site at http://www.americanapparel.com/

American Apparel, Inc., on June 23, 2010, entered into a Third
Amendment to its Credit Agreement, dated as of March 13, 2009,
among the Company, in its capacity as borrower, certain
subsidiaries of the Company, in their capacity as facility
guarantors, Wilmington Trust FSB, in its capacity as
administrative agent and collateral agent, Lion Capital (Americas)
Inc., as a lender, Lion/Hollywood L.L.C., as a lender, and other
lenders from time to time party thereto.

The Third Amendment amends the Lion Credit Agreement to, among
other things, replace the Total Debt to Consolidated EBITDA
financial covenant with a minimum Consolidated EBITDA financial
covenant, tested on a quarterly basis.

In May, American Apparel informed the Securities and Exchange
Commission it would delay the filing of its quarterly report on
Form 10-Q for the period ended March 31, 2010.  American Apparel
said it needs additional time to complete certain reviews and
analyses with respect to the financial statements and related
disclosures to be included in its Form 10-Q.


AMERICAN INT'L: Said to Weigh Giving Stake in Rescue Vehicles
-------------------------------------------------------------
American International Group Inc. is considering repaying part of
its U.S. bailout by handing over stakes in mortgage-linked bonds
that pushed the insurer to the brink of collapse, Bloomberg News
reported, citing three people with knowledge of the plan.

According to the report, the assets are contained in Maiden Lane
II and Maiden Lane III, entities created in 2008 as part of the
U.S. effort to remove toxic securities from the New York-based
insurer.  AIG's proposal reflects the firm's confidence in the
rebound in value of these holdings, said the unidentified people.

                          About AIG Inc.

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

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

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


AMERICAN MEDIA: Reaches Debt-to-Equity Agreement with Bondholders
-----------------------------------------------------------------
American Media, Inc., said early this month that it has reached an
agreement with 90% of its bondholders for them to exchange AMI's
bonds for shares of AMI common stock.  After the transaction,
AMI's debt will be reduced by $200 million and its leverage
reduced from 7.2x to 5.1x.

The transaction gives AMI significant flexibility, with
$50 million of free cash flow on a pro forma basis.  The Company
plans on launching a debt-for-equity exchange in July and
anticipates it will be concluded in August.  Moelis & Company
served as AMI's financial advisor in the transaction.

AMI Chairman, President and CEO David J. Pecker said, "I am very
grateful to our bondholders for having the confidence and faith in
AMI to consummate this transaction."

AMI meanwhile said July 12 that it has made available at its
corporate Web site certain information, including the average
estimated monthly circulation of certain key magazine titles
during the period July 2009 through June 2010, as well as the
recent levels of the Company's Revolving Credit Facility and cash
balances.  The information is available at
http://www.americanmediainc.com/bankinfo/

                     About American Media, Inc.

American Media, Inc. is the leading publisher of celebrity
journalism and health and fitness magazines in the U.S.  These
include Star, Shape, Men's Fitness, Fit Pregnancy, Natural Health,
and The National Enquirer.  In addition to print properties, AMI
manages 14 different web sites. The company also owns Distribution
Services, Inc., the country's #1 in-store magazine merchandising
company.

In June 2010, Standard & Poor's Ratings Services lowered its
rating on Boca Raton, Fla.-based American Media Inc. to 'D' from
'CCC.'  The ratings downgrade reflects American Media's ongoing
deferral of its May 1, 2010 interest payment on the 14% notes.
The Company stated that 75% of noteholders consented that the
May 1, 2010 interest payment be deferred until June 21, 2010.


AMR CORP: Nears British Airways Alliance as EU Backs Deal
---------------------------------------------------------
Bloomberg News reports that AMR Corp.'s American Airlines moved a
step closer to completing a trans-Atlantic alliance wit
British Airways Plc that will control almost 50% of flights at
London's Heathrow Airport.

According to the report, the American-British Airways plan
recently won European Union antitrust approval and awaits
clearance from the U.S. Transportation Department.  The venture
would give the carriers equal footing with other alliances that
coordinate pricing, flights and marketing across the Atlantic.

"This is very, very important for the way BA and AMR operate and
gives them some significant advantages, which competitors such as
Air France and Lufthansa have already been benefiting from," said
Gert Zonneveld, an analyst at Panmure Gordon in London who rates
British Airways as "hold."

                       About AMR Corporation

Headquartered in Forth Worth, Texas, AMR Corporation (NYSE:
AMR) operates with its principal subsidiary, American Airlines
Inc. -- http://www.aa.com/-- a worldwide scheduled passenger
airline.  At the end of 2006, American provided scheduled jet
service to about 150 destinations throughout North America, the
Caribbean, Latin America, including Brazil, Europe and Asia.
American is also a scheduled airfreight carrier, providing
freight and mail services to shippers throughout its system.

Its wholly owned subsidiary, AMR Eagle Holding Corp., owns two
regional airlines, American Eagle Airlines Inc. and Executive
Airlines Inc., and does business as "American Eagle."  American
Beacon Advisors Inc., a wholly owned subsidiary of AMR, is
responsible for the investment and oversight of assets of AMR's
U.S. employee benefit plans, as well as AMR's short-term
investments.

At March 31, 2010, the Company had total assets of $25.525 billion
against total current liabilities of $8.241 billion, long-term
debt, less current maturities of $9.861 billion, obligations under
capital leases, less current obligations of $559 million, pension
and postretirement benefits of $7.531 billion, and other
liabilities, deferred gains and deferred credits of
$3.225 billion, resulting in stockholder's deficit of
$3.892 billion.

                           *     *     *

AMR carries a 'CCC' issuer default rating from Fitch Ratings.  It
has 'Caa1' corporate family and probability of default ratings
from Moody's.  It has 'B-' corporate credit rating, on watch
negative, from Standard & Poor's.


ARROW AIR: Has Cash Use Approval for Liquidation
------------------------------------------------
Bill Rochelle at Bloomberg News reports that Arrow Air Inc. won
interim approval to use cash representing collateral for secured
lenders' claims.  Cash may only be used in accordance with an
approved budget.  The final hearing on the cash use is set for
July 22.

The report notes that the cash collateral order allows the
official committee of unsecured creditors to spend $50,000
investigating whether the lenders' liens are valid.  Otherwise,
the committee can't spend any of the lenders' cash collateral to
sue secured creditors.

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

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

The Chapter 11 case is Arrow's third.  Arrow halted operations the
day before the Chapter 11 filing.  Arrow Air intends to liquidate
under Chapter 1.


AVENTINE RENEWABLE: Distributes Stock as Part of Plan
-----------------------------------------------------
Aventine Renewable Energy Holdings, Inc., has made a pro rata
quarterly distribution of shares of the company's common stock to
holders of the company's former 10% senior unsecured notes due
2017, or the old notes, and to holders of allowed general
unsecured claims against the bankruptcy estate of the company.  In
connection with the quarterly distribution of shares, 599,947
shares of common stock are being distributed to holders of old
notes and 43,425 shares are being distributed to holders of
allowed general unsecured claims.

The shares are being distributed pursuant to the terms of the
Debtors' First Amended Joint Plan of Reorganization Under Chapter
11 of the Bankruptcy Code Dated as of January 13, 2010, confirmed
by the U.S. Bankruptcy Court for the District of Delaware on
February 24, 2010, under which the company emerged from Chapter 11
bankruptcy protection on March 15, 2010.

Including this quarterly distribution the company will have issued
approximately 7.4 million shares of common stock, with
approximately 1.2 million shares left for further distributions.
As of July 14, 2010, approximately 20 claims of recovery from the
company's bankruptcy case remain disputed, although the claims
continue to be reduced by virtue of the ongoing claims
reconciliation process.

The CUSIP number of the shares of common stock of the company is
05356X700.

                  About Aventine Renewable

Pekin, Illinois-based Aventine Renewable Energy Holdings, Inc.
(Pink Sheets: AVRN) -- http://www.aventinerei.com/-- is a
producer and marketer of ethanol to many leading energy companies
in the United States.  In addition to ethanol, Aventine also
produces distillers grains, corn gluten meal, corn gluten feed,
corn germ and brewers' yeast.

Morgan Stanley Capital Partners IV bought Aventine in May 2003
from Williams Cos.  Aventine had a public offering in May 2006.
The Morgan Stanley group retained 28% of the stock at year's end.

The Company and its affiliates filed for Chapter 11 on April 7,
2009 (Bankr. D. Del. Lead Case No. 09-11214).  Joel A. Waite,
Esq., and Ryan M. Bartley, Esq., at Young, Conaway, Stargatt &
Taylor, serves as bankruptcy counsel to the Debtors.  Davis Polk
& Wardwell is special tax counsel and Houlihan, Lokey, Howard &
Zukin, Inc., is the financial advisor.  Garden City Group, Inc.,
has been engaged as claims agent.  Scott D. Cousins, Esq., and
Donald J. Detweiler, Esq., at Greenberg Traurig, LLP, serve as
counsel to the official committee of unsecured creditors.  When it
filed for bankruptcy protection from its creditors, Aventine
Renewable listed between $100 million and $500 million each in
assets and debts.

The Court confirmed on February 24, 2010, the Company's plan of
reorganization.  The Company emerged from Chapter 11 on March 15,
2010.


AXIA INC: Sets Conversion to Chapter 7 Effective Aug. 1
-------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Axia Inc. is now
seeking approval for conversion of its Chapter 11 case to Chapter
7 effective Aug. 1.  Axis, now formally named ATT011 Inc., doesn't
have enough cash to pay creditors whose claims must be paid in
full in a Chapter 11 plan.

Axia, according to the report, completed the sale of its business
in March to a group including existing lenders and shareholders.
The purchasers paid for the business with a $9 million note
payable to the senior term loan lenders and 21.5% of the equity
earmarked for the subordinated secured term loan.

                         About Axia Inc.

Axia Inc. and Ames Taping manufacture automatic taping and drywall
finishing tools.  Ames' principal business is the rental and
service of its fleet of over 220,000 ATF tools under its flagship
Bazooka(R) brand name through its network of over 200 Company-
owned stores, franchised locations, field vans, and rental
stations located throughout the U.S. and Canada.  Ames also sells
ATF tools in the U.S. and Canada under the broadly recognized
brand name TapeTech(R) through a network of over 200 independent
dealers, and internationally, under the brand name Premier
International(R).  The Companies are controlled by Aurora Equity
Partners.

Axia Inc. and three affiliates filed for Chapter 11 on Dec. 14,
2009 (In re Ames Holding Corp., Bankr. D. Del. Case No. 09-14406).

Assets at Oct. 30, 2009, were $178 million.  Liabilities include
$69.2 million on a senior secured term loan and a $91.8 million
subordinated secured term loan.

Attorneys at Richards, Layton & Finger, P.A., represents the
Debtors.


BLACK CROW: Has Until November 8 to File Reorganization Plan
------------------------------------------------------------
Radio-Info.com relates that a bankruptcy court gave Black Crow
until Nov. 8, 2010, to create and file a Chapter 11 plan of
reorganization.  The Company convinced the court that it business
has stabilized and the interests of lender GE Capital are now
adequately protected.

The Company, the report says, found a new lender that agreed to
offer up to $1.5 million.  The court required the Company to
provide updates to GE Capital about pacing for ad sales,
collections and disbursement on a weekly basis.

                       About Black Crow

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

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

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


BOSTON PROPERTIES: Fitch Affirms Preferred Stock Rating at 'BB+'
----------------------------------------------------------------
Fitch Ratings has affirmed the ratings on Boston Properties Inc.
and Boston Properties L.P.:

  -- Issuer Default Rating at 'BBB';
  -- Unsecured revolving credit facility at 'BBB';
  -- Senior unsecured notes at 'BBB';
  -- Exchangeable senior unsecured notes at 'BBB';
  -- Preferred Stock (indicative) at 'BB+'.

The Rating Outlook is Stable.

The rating affirmation is supported by a strong management track
record, a high quality portfolio of assets, manageable lease
expirations, a good liquidity position, sizable pool of
unencumbered assets, reasonable leverage, and good access to a
range of capital sources.  The ratings are balanced by challenging
market fundamentals, a projected decline in fixed charge coverage
in 2010, and sizable exposure to tenants in the legal community.
The company also maintains a fairly concentrated operational
footprint with some asset concentration, which provides some
additional inherent risk.

The company's CBD properties compete for the highest profile
tenants in the regions in which they operate and many of these
properties serve as flagship locations for the largest tenants.
The occupancy rates on high quality properties tend to remain
above prevailing market occupancies throughout cycles, as some
tenants look to take advantage of relatively weak market
conditions to improve the quality of their office space.  BXP's
in-service portfolio was 92.9% leased at March 31, 2010.

Additionally, the company's revenue is supported by long-term
leases in place.  Over the next several years, between 5% and 8%
of rents are scheduled to expire annually, ensuring that the
company is not overly exposed to leasing risk at any given time,
absent tenant bankruptcies.

The company maintains a good liquidity position.  Pro forma for
the company's $700 million senior unsecured notes offering in
April 2010 and assuming the refinancing of 80% of pro rata JV
secured debt, for the period April 1, 2010 through Dec. 31, 2011,
the company's sources of liquidity (unrestricted cash,
availability under the company's credit facilities and expected
retained cash flows from operating activities after dividends)
divided by uses of liquidity (debt maturities, recurring capital
expenditures and development costs) result in a liquidity coverage
ratio of 1.4 times, assuming BXP's unsecured revolving credit
facility with a final maturity date in August 2011 is reduced by
one-third.

The company maintains a sizable unencumbered asset pool that
includes properties from across the portfolio to support its
unsecured borrowings.  As of March 31, 2010, there were 100 assets
in the company's unencumbered pool.  Capitalizing 2010 annualized
cash NOI generated by the unencumbered pool at a stressed
capitalization rate of 8% yielded unencumbered asset coverage of
approximately 1.7x at March 31, 2010.  On a net unsecured debt
basis, which subtracts the company's excess cash from its
unsecured debt, the ratio improves to 2.3x.

The company's leverage is in a range that is reasonable for the
ratings.  Using trailing 12 months recurring operating EBITDA on a
GAAP basis, Fitch calculated the company's net debt to recurring
operating EBITDA to be 5.9x.  However, Fitch projects that this
ratio will increase to between 6.0x and 7.0x in 2011 as recurring
operating EBITDA declines over the next 18 months.  Fitch
anticipates that this ratio will decline to closer to 6.0x in 2012
as newly developed space is placed in service.

The company has continued to demonstrate its ability to raise
capital in size.  Since June 2008, BXP has raised approximately
$5.5 billion of debt and equity capital for its own account and on
behalf of its joint ventures, demonstrating strong interest from
both lenders and equity investors.  While the company has elevated
unsecured debt maturities in 2013 when 22.1% of its pro rata share
of debt matures, the maturity schedule is manageable.

While showing some improvement in late 2009 and the first half of
2010, office market fundamentals generally remain fairly
challenging and these conditions have pressured the terms of both
new and renewal leases.  This is illustrated in the level of free
rent as well as tenant improvement and leasing commission costs
that the company is providing to tenants.  Fitch projects that
BXP's 2010 capital expenditures, which are disproportionately
driven by leasing-related costs and are affected by the length of
the lease term, to roughly double as a percentage of recurring
operating EBITDA over 2009 levels.

The combination of high capital expenditures, a sizable level of
leased space remaining under free rent periods in 2010, and
increased interest expense from newly issued debt is expected to
pressure Fitch-defined fixed charge coverage (defined as recurring
EBITDA less the sum of capital expenditures and straight line
rents divided by total interest incurred) ratios in 2010.  Fitch
projects that this ratio will be approximately 1.6x in 2010,
before rising to 1.9x in 2011 and 2.2x in 2012 as free rent,
capital expenditures, and cash interest expense decline, while
newly developed space is added to the portfolio.  Continued
pressure on this metric beyond 2010 could signal potential
negative rating momentum.

The company also has a fairly high proportion of legal tenants in
its portfolio.  As of March 31, 2010, tenants in this segment
represented approximately 27% of total portfolio square footage.
While many of the company's largest tenants are high profile
firms, employment within these firms has generally declined over
the past two years, increasing the risk that they could seek to
reduce their space footprints when leases expire.

Notably, the company is also exposed to asset concentration risk.
The company generates over 40% of its pro rata cash NOI from eight
assets in New York, including four wholly owned assets and four
assets that are held in joint ventures in which the company holds
a 60% interest.  These large assets expose the company to
performance issues at individual assets.

These factors may have a positive impact on the ratings and/or
Outlook:

  -- Fitch-defined fixed charge coverage sustaining above 2.5x
     (coverage was 2.1x and 1.2x for the trailing 12 months and
     quarter ended March 31, 2010, respectively);

  -- Net debt to recurring operating EBITDA sustaining below 5.3x
     (leverage was 5.9x as of ended March 31, 2010);

  -- A meaningful increase in the size and asset diversity of the
     portfolio.

These factors may have a negative impact on the ratings and/or
Outlook:

  -- Fitch-defined fixed charge coverage sustaining below 1.7x;
  -- Net debt to recurring operating EBITDA sustaining above 7.0x;
  -- A liquidity shortfall.


BROWN PUBLISHING: Creditors Sue to Block Lenders' Credit Bid
------------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
bankruptcy cases of The Brown Publishing Company and its
affiliates asked the U.S. Bankruptcy Court for the Eastern
District of New York to prohibit Brown Publishing's first lien
lender bank group from credit bidding its debt in an auction for
the Debtors' assets, netDockets Blog reports.

The first lien lenders are owed roughly $72.7 million as of the
bankruptcy filing.

According to netDockets, the Debtors have received authority to
conduct an auction on July 19, with initial bids due on July 16.
The Bankruptcy Court will consider approval of the results of the
auction on July 22.

The Creditors Committee, the report notes, is seeking to prohibit
the debtors' first lien lenders from utilizing a credit bid of
their secured debt to participate in the process, alleging that
the lenders' liens and claims asserted against some of the
subsidiary debtors "were fraudulent transfers that can be avoided
and thus the Bank Group's liens and claims are subject to a bona
fide dispute -- indeed they are in serious doubt."

Specifically, the report says, the Creditors Committee asserts
that Brown Media Holdings Company and its five subsidiaries were
created after the other debtors entered into the first lien credit
facility and received the proceeds thereof.  The Committee, the
report relates, said that the six Brown Media entities were
created to "acquire and hold various business publications in New
York, Ohio, Iowa and Texas," but those acquisitions were financed
by "a new $33 million loan from a new lending group.

netDockets Blog discloses that therefore, the motion claims that
"Media and its subsidiaries received no value - much less
reasonably equivalent value - for becoming direct obligors on the
approximately $75 million of pre-existing debt of [Brown
Publishing Co.] and pledging their newly acquired assets as
security for the debt of [Brown Publishing Co.] - and were either
insolvent when they entered into the September 2007 [agreements
whereby they became co-borrowers and guarantors of the pre-
existing first lien debt] or, undoubtedly, rendered them insolvent
by the assumption of the debt of [Brown Publishing Co.]."

While the Creditors Committee has not yet formally challenged the
first lien lenders' claims and liens, it has until August 23, to
do so pursuant to the terms of the bankruptcy court's order
approving the Debtors' DIP financing facility, the report notes.
The Committee acknowledges that it is still "in the process
investigating the Bank Group's alleged liens and security
interests."

                   About Brown Publishing Company

Headquartered in Cincinnati, Ohio, The Brown Publishing Company
owns business publications in Ohio, Utah, Texas, South Carolina,
New York, and Iowa.  Brown publishes 15 daily, 32 weekly, 11
business and 41 free publications.  There are also 51 websites.
Seventy-eight of the publications are in Ohio. Brown publishes
Dan's Papers, the weekly newspaper with the largest circulation in
the area of eastern Long Island, New York, known as the Hamptons.
Brown also publishes the Montauk Pioneer, which it calls the
official newspaper of Montauk, New York.

The Company filed for Chapter 11 bankruptcy protection on
April 30, 2010 (Bankr. E.D.N.Y. Case No. 10-73295).  Edward M.
Fox, Esq., at K&L Gates LLP, assists the Company in its
restructuring effort.  The Company estimated its assets and debts
at $10,000,001 to $50,000,000.


BUILDERS FINANCIAL: Case Summary & 17 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Builders Financial Corporation
        225 W. Wacker Drive, Suite 2000
        Chicago, IL 60606

Bankruptcy Case No.: 10-31180

Chapter 11 Petition Date: July 13, 2010

Court: U.S. Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Bruce W. Black

Debtor's Counsel: David K. Welch, Esq.
                  Crane Heyman Simon Welch & Clar
                  135 S Lasalle Street, Suite 3705
                  Chicago, IL 60603
                  Tel: (312) 641-6777
                  Fax: (312) 641-7114
                  E-mail: dwelch@craneheyman.com

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

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

A copy of the Company's list of 17 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/ilnb10-31180.pdf

The petition was signed by Mitchell Saywitz, president.


BULK PETROLEUM: Convenience Stores Acquires 63 Stations for $11MM
-----------------------------------------------------------------
CSP.net, citing court document, reports that Convenience Stores
Leasing & Management LLC purchased a group of 63 Bulk Petroleum
Corp. gas station sites for $11 million.

According to the report, the 63 sites purchased include 24 stores
in Kentucky, 15 stores in Iowa, 15 stores in Indiana, seven stores
in Michigan and one store each in Illinois and Missouri.  Bulk
Petroleum is expected to continue to supply gasoline to a majority
of the sold sites.  Other buyers approved by the court include:

    * KMT Inc., which bought one store in Evansville, Ind., for
      $668,729.

    * PSR Petro Mart Inc., which bought a store in Rock Island,
      Ill., for $425,000.

    * Star Fuels LLC, which bought one store in Paducah, Ky., for
      $817,216.

    * T. Minimart Inc., which bought one store in Evansville,
      Ind., for $792,332.

    * VIP Petroleum Inc., which bought one store in Edinburgh,
      Ind., for $710,000.

                      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.


CAPITOL INVESTMENTS: CEO Indicted for $880 Million Ponzi Scheme
---------------------------------------------------------------
A federal grand jury indicted Nevin Shapiro, former owner and
Chief Executive Officer of Capitol Investments USA Inc., for
allegedly overseeing a $880 million Ponzi scheme linked to his
purported wholesale grocery distribution business, U.S. Attorney
Paul J. Fishman announced.

The indictment charges Shapiro, 41, of Miami Beach, Fla., with
using Capitol to solicit hundreds of millions of dollars from
individuals who believed they were investing in Shapiro's grocery
distribution business.  The indictment alleges that Capitol had no
active wholesale grocery business during the relevant time period,
and that Shapiro used new investor funds to make principal and
interest payments to existing investors, as well as to fund his
own lavish lifestyle.

Shapiro was previously charged by complaint and surrendered to
special agents of the FBI and the Internal Revenue Service (IRS)
on April 21, 2010, in Newark.  He has been in federal custody
since that time.  The complaint charged Shapiro with one count
each of securities fraud and money laundering; the indictment adds
one count of conspiracy to commit securities and wire fraud, two
counts of wire fraud and one count of money laundering.  The
indictment also seeks forfeiture of any money or property
identified as proceeds from the offenses.

According to the indictment and other documents filed in this case
in federal court in Newark, from January 2005 through November
2009, Shapiro solicited investors from New Jersey and throughout
the United States through Capitol, telling them that he would use
their money to fund his wholesale grocery distribution business.
To induce those investors, Shapiro directed others to create and
show to the investors documents fraudulently touting Capitol's
profitability.  Those documents included: financial statements
profit and loss figures that fraudulently represented that
Capitol's wholesale grocery business was generating tens of
millions of dollars in annual sales; personal and business tax
returns for Shapiro and Capitol that also fraudulently reflected
those sales; and numerous invoices fraudulently reflecting
transactions between Capitol and other companies in the wholesale
grocery business.

As a result of these solicitations, more than 60 victim investors,
including some from New Jersey, sent more than $880 million to
Shapiro and Capitol during this time period.  Beginning in January
2009, Shapiro and Capitol failed to make required principal and
interest payments to investors.  At the time, Shapiro told
investors, among other things, that the payments were not being
made because Capitol's vendors were late in making payments, that
Capitol was suffering from cash flow problems and that Shapiro's
accountant was on vacation.

Shapiro misappropriated approximately $35 million in investor
funds for his personal use, including paying millions of dollars
in debts resulting from illegal gambling on sporting events.
Using investor money, he also spent more than $400,000 for floor
seats to watch the Miami Heat professional basketball team;
approximately $26,000 per month for mortgage payments on his
residence in Miami Beach, recently appraised at approximately
$5.3 million; approximately $7,250 per month for payments on a
$1.5 million dollar Riviera yacht; and approximately $4,700 per
month for the lease of a Mercedes-Benz automobile.

Shapiro also used stolen funds to purchase a pair of diamond-
studded handcuffs, which he gave as a gift to a prominent
professional athlete, as well as to make $150,000 in donations to
the athletic program of a university in the Miami area. As a
result of a 10-year gift to the university, the Nevin Shapiro
Student-Athlete Lounge at the university was named for the
defendant.

Shapiro and Capitol were forced into bankruptcy in November 2009.
At that time, they owed more than $100 million to victim
investors.

If convicted, Shapiro faces the following maximum potential
penalties per count of the indictment:

Charge Maximum Potential Penalty Per Count

Count One - conspiracy to commit securities fraud and wire fraud:
Five years in prison; fine of $250,000 or twice the gross gain or
loss from the offense

Count Two - securities fraud: 20 years in prison; fine of
$5 million

Counts Three and Four - wire fraud: 20 years in prison; fine of
$250,000 or twice the gross gain or loss from the offense

Counts Five and Six - money laundering: 10 years in prison; fine
of $250,000 or twice the gross gain or loss from the offense

U.S. Attorney Fishman credited special agents of the FBI, under
the direction of Special Agent in Charge Michael B. Ward, and
special agents of the IRS - Criminal Investigation Division, under
the direction of Special Agent in Charge William P. Offord, for
the continuing investigation which led to the indictment. Fishman
also thanked the U.S. Securities and Exchange Commission's Miami
Regional Office, under the direction of Eric Bustillo.

The government is represented by Assistant U.S. Attorneys Justin
W. Arnold and Jacob T. Elberg of the U.S. Attorney's Office,
Criminal Division in Newark.

This case was brought in coordination with President Barack
Obama's Financial Fraud Enforcement Task Force.  President Obama
established the interagency Financial Fraud Enforcement Task Force
to wage an aggressive, coordinated, and proactive effort to
investigate and prosecute financial crimes.  The task force
includes representatives from a broad range of federal agencies,
regulatory authorities, inspectors general, and state and local
law enforcement who, working together, bring to bear a powerful
array of criminal and civil enforcement resources.  The task force
is working to improve efforts across the federal executive branch,
and with state and local partners, to investigate and prosecute
significant financial crimes, ensure just and effective punishment
for those who perpetrate financial crimes, combat discrimination
in the lending and financial markets, and recover proceeds for
victims of financial crimes.

The charges and allegations made in the indictment are merely
accusations, and the defendant is considered innocent unless and
until proven guilty.


CARACO PHARMACEUTICAL: Receives NYSE Amex Notice of Non-Compliance
------------------------------------------------------------------
Caraco Pharmaceutical Laboratories, Ltd., disclosed that on
July 12, 2010, NYSE Amex notified the Company that it was not in
compliance with the requirement under its continued listing
standards that its audit committee be comprised of three
independent members.  On July 9, 2010, the Company informed NYSE
Amex of its non-compliance with Section 803(B)(2)(a) of NYSE Amex
Company Guide following the resignation of Mr. Madhava Reddy as a
director of the Company on July 6, 2010, leaving two independent
directors on the Company's audit committee.  Additionally, the
Company notified NYSE Amex that it intends, in conformance with
NYSE Amex rules, to add another independent director to the audit
committee within 180 days of the resignation.

Detroit-based Caraco Pharmaceutical Laboratories, Ltd., develops,
manufactures, markets and distributes generic pharmaceuticals to
the nation's largest wholesalers, distributors, drugstore chains
and managed care providers.


CARMEL INVESTMENTS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Carmel Investments and Development, Inc.
        14220 SW 136 Street # J
        Miami, FL 33186

Bankruptcy Case No.: 10-29883

Chapter 11 Petition Date: July 13, 2010

Court: U.S. Bankruptcy Court
       Southern District of Florida (Miami)

Judge: A. Jay Cristol

Debtor's Counsel: D. Jean Ryan, Esq.
                  P.O. Box 561507
                  Miami, FL 33256
                  Tel: (305) 275-2733
                  E-mail: ryandunncourtmail@ryan-dunn.com

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

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

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/flsb10-29883.pdf

The petition was signed by Carmelo A. Gonzalez, president.


CARMELO A. GONZALEZ - ALPHA: Case Summary & Creditors List
----------------------------------------------------------
Debtor: Carmelo A. Gonzalez Revocable Family Trust - Alpha
        c/o Carmelo Gonzalez
        14220 SW 136 Street
        Miami, FL 33186

Bankruptcy Case No.: 10-29878

Chapter 11 Petition Date: July 13, 2010

Court: U.S. Bankruptcy Court
       Southern District of Florida (Miami)

Judge: Laurel M. Isicoff

Debtor's Counsel: D. Jean Ryan, Esq.
                  P.O. Box 561507
                  Miami, FL 33256
                  Tel: (305) 275-2733
                  E-mail: ryandunncourtmail@ryan-dunn.com

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

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

A copy of the Debtor's list of 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/flsb10-29878.pdf

The petition was signed by Carmelo A. Gonzalez, trustee.


CARMELO A. GONZALEZ - BRAVO: Case Summary & Creditors List
----------------------------------------------------------
Debtor: Carmelo A. Gonzalez Revocable Family Trust - Bravo
        c/o Carmelo A. Gonzalez
        14220 SW 136 Street
        Miami, FL 33186

Bankruptcy Case No.: 10-29879

Chapter 11 Petition Date: July 13, 2010

Court: U.S. Bankruptcy Court
       Southern District of Florida (Miami)

Judge: Robert A. Mark

Debtor's Counsel: D. Jean Ryan, Esq.
                  P.O. Box 561507
                  Miami, FL 33256
                  Tel: (305) 275-2733
                  E-mail: ryandunncourtmail@ryan-dunn.com

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

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

A copy of the Debtor's list of 20 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/flsb10-29879.pdf

The petition was signed by Carmelo A. Gonzalez, trustee.


CELEBRITY RESORTS: Exclusivity Extended; Meyers Files Lawsuit
-------------------------------------------------------------
Judge Arthur Briskman of the U.S. Bankruptcy Court for the Middle
District of Florida held a hearing on July 8 in connection with
the Chapter 11 case of Celebrity Resorts LLC.

As reported in the Troubled Company Reporter on April 26, 2010,
secured creditor, Farmington Bank, sought for the dismissal or,
conversion of the case, citing "no reasonable likelihood of
rehabilitation" of the Debtor.  Another party, Neil Meyers, sought
for the dismissal of the case, citing that it was filed by Jared
Meyers without proper authority.

netDockets Blog reports that a scheduling conference on the motion
filed by Farmington Bank, will be held on July 21, 2010.
Previously, the July 21st hearing had been scheduled to be an
evidentiary hearing.

As reported by netDockets, the Neil Meyer's motion to dismiss was
withdrawn without prejudice.  netDockets says that the motion to
determine whether the Chapter 11 cases were filed without proper
authority by Jared Meyers is now apparently going to be addressed
instead in a newly-filed adversary proceeding.

An adversary complaint filed by Neil Meyers asks the bankruptcy
court to (1) enter a declaratory judgment that Neil Meyers is the
owner of Celebrity Resorts and the other debtors and (2) issue an
injunction prohibiting Jared Meyers from exercising control over
the Debtors.   The report relates that the complaint alleges that
Jared Meyers "created a confusing array of business entities" and
"claims to have transferred certain membership interests and
assets to other entities over which he claims to exercise
ownership and control," but that his attempted transfers were
ineffective for at least four reasons.  The court's proceeding
memo from the hearing states that the Debtors have 10 days to file
an answer to the complaint and that the court will set an initial
evidentiary hearing in approximately 60 days.

NetDockets also reported that the bankruptcy court granted
Celebrity Resorts' request for an extension of the exclusive
periods to file and solicit acceptances of a plan, overruling an
objection filed by Textron Financial Corporation.  The exclusive
period to propose a Chapter 11 plan is extended to August 6, 2010.

As to Celebrity Resorts' application to employ Joseph R. Panzl as
special counsel, the bankruptcy court appears to have taken this
application under advisement after admitting the Debtor's hearing
exhibit.

Orlando, Florida-based Celebrity Resorts, LLC, filed for Chapter
11 bankruptcy protection on March 5, 2010 (Bankr. M.D. Fla. Case
No. 10-03550).  R Scott Shuker, at Latham Shuker Eden & Beaudine
LLP, assists the Company in its restructuring effort.  The Company
estimated its assets and debts at $10,000,001 to $50,000,000.


CENTAUR LLC: Committee Finds Defects in Lender Collateral
---------------------------------------------------------
Bill Rochelle at Bloomberg News reports that the Official
Committee of Unsecured Creditors for Centaur LLC is seeking
permission to sue secured creditors to question the validity of
their liens.  The Creditors Committee believes there are defects
in the security interests on $192 million in collateral claimed by
the first-and second-lien lenders.  The Committee also believes
that guarantees of secured debt given by subsidiaries are
fraudulent transfers that may be voided in bankruptcy.  A hearing
is scheduled July 21.

According to the report, Centaur will also seek approval at a
hearing on July 28 for auction and sales procedures pertaining to
the Fortune Valley Hotel & Casino 40 miles west of Denver.  The
initial bid will come from Luna Gaming Central City LLC.  The
price is $7.5 million cash plus a $2.5 million note, less
adjustments.  Centaur wants other bids five days before an auction
on Aug. 23.

                         About Centaur LLC

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

The Company and 12 affiliates filed for Chapter 11 bankruptcy
protection on March 6, 2010 (Bankr. D. Delaware Case No. 10-
10799).  Jeffrey M. Schlerf, Esq., at Fox Rothschild LLP, assists
the Company in its restructuring effort.  The Company estimated
its assets and debts at $500,000,001 to $1,000,000,000 as of the
Petition Date.

Subsidiaries Centaur PA Land LP and Valley View Downs LP filed for
bankruptcy reorganization in October 2009 to keep alive a project
to develop a racetrack in Pennsylvania.


CHARLES DIETZ: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Charles D. Dietz
          dba Residential Appraisal Group
          fdba Cucina Latella, USA
          dba Dietz Design Group
              Frutta Bellissimo
        45744 Appian Way
        Indian Wells, CA 92210

Bankruptcy Case No.: 10-31667

Chapter 11 Petition Date: July 13, 2010

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

Judge: Catherine E. Bauer

Debtor's Counsel: Daniel C. Sever, Esq.
                  41750 Rancho Las Palmas, Suite N-2
                  Rancho Mirage, CA 92270
                  Tel: (760) 773-0720
                  Fax: (760) 773-0732
                  E-mail: dansever@severlegal.com

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

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

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

The petition was signed by the Debtor.


CHEMTURA CORP: Equity Committee Contemplates Alternative Plan
-------------------------------------------------------------
The Official Committee of Equity Holders for Chemtura Corp. asks
Judge Gerber to terminate the Debtors' exclusive periods to file a
Chapter 11 plan and solicit acceptances for that plan.

The current version of Chemtura's Chapter 11 Plan, the Equity
Committee complains, is unconfirmable despite the length of time
afforded to the Debtors through multiple extensions of the
Exclusive Periods.  For this reason, the Equity Committee seeks
the termination of the Exclusive Periods so that it can file an
alternative plan.

Jay M. Goffman, Esq., at Skadden Arps Slate Meagher & Flom LLP,
in New York, reveals that the Equity Committee has been working
on an alternative plan for the Debtors.  He tells Judge Gerber
that the Equity Committee's Alternative Plan is substantially
better than the one proposed by the Debtors because (1) it is
fully funded; (2) pays all creditors in full; and (3) provides
substantially more value to the current equity holders.

Mr. Goffman further discloses that the Alternative Plan maximizes
value for all stakeholders, and is supported by:

  (i) commitments from existing stockholders by at least
      $470,000,000 in a new equity investment, and

(ii) a letter from UBS Securities LLC, indicating its
      confidence of being able to raise the debt financing
      called for by the Alternative Plan.

The Equity Committee complains that the Debtors' Plan is fatally
flawed because it sells short current equity holders by providing
them only a 5% ownership stake in the Reorganized Debtors if the
Equity Committee votes in favor of the Plan.  "That 5% is not
enough because the Debtors currently acknowledge in their Chapter
11 Plan of Reorganization that there is value for equity based on
persistent efforts of a robust Equity Committee," Mr. Goffman
emphasizes.

As the Debtors acknowledge that the equity holders are the
fulcrum security, whose interests therefore should be paramount,
they should be faithfully executing their fiduciary duties by
actively supporting and sponsoring the superior Equity Committee
Plan, Mr. Goffman insists.  "Instead," he laments, "the Debtors
have chosen to align themselves with their creditors, whose
support they procured by proposing a plan that would distribute
to creditors more value than the amount of their properly allowed
claims -- and this improper largesse is proposed to be paid out
of the equity holders' pockets."

The Equity Committee further contends that the Debtors' Plan is
tailored to hit management's "comfort zone" rather than maximize
value.  Thus, in order to lower the Company's leverage, the
Debtors propose transferring substantial value out of the equity
holder's pockets in order to make unnecessary up front settlement
payments to creditors whose claims clearly should ride through
bankruptcy or be reinstated, Mr. Goffmann argues.

Mr. Goffman further argues that continued Exclusivity serves no
purpose in the Debtors' Chapter 11 Cases except to pressure the
Equity Committee and its constituency into accepting the Debtors'
Plan.  He reasons that equity holders who are the rightful owners
of Chemtura should not be marginalized when there are superior
plan structures available.

"Courts terminate exclusivity when a debtor uses it as a sword,
forcing stakeholders to accept its view of an appropriate plan
instead of taking the time to negotiate a consensual plan," Mr.
Goffman says.

Along with its Exclusivity Termination Motion, the Equity
Committee attached copies of an Alternative Plan Term Sheet and
the UBS Letter, full-text copies of which are available for free
at:

         http://bankrupt.com/misc/ChemAltPlnTrmSht.pdf
           http://bankrupt.com/misc/ChemUBSLttr.pdf

The Equity Committee summarized the salient terms of its
Alternative Plan.  They include:

  * Infusion of $470 million in new equity;

  * Provision of more of the reorganized equity to current
    stockholders, even absent participation in the contemplated
    rights offering under the Equity Committee Plan;

  * Reinstatement of the 2016 Notes, thereby eliminating a
    $50 million "make whole" settlement, and preserving a
    valuation asset of the estate;

  * Elimination of $20 million in full payment with respect of
    the 2026 Notes since the holders of this low coupon debt
    will receive a benefit from repayment and thus have no valid
    claim to damages;

  * Emergence with a sustainable amount of leverage at
    $1.3 billion (consisting of $800 million in new debt and
    reinstating $500 million of the 2016 Notes), which provides
    existing stockholders with a greater recovery than the 9%
    under the Debtors' current Plan;

  * Reinstatement of diacetyl claims and payment of those claims
    in the ordinary course;

  * Foregoing $50 million in contributions to the Debtors' U.S.
    pension plans (which were only proposed to pacify the PBGC
    -- a member of the UCC), which is neither required by law
    nor likely to result in a forced termination if not paid;
    and

  * Grant to existing stockholders of the opportunity to invest
    $135 million more in a rights offering than is contemplated
    by the Debtors' current Plan.

In a separate filing, the Equity Committee asked the Court to
shorten the time for notice of the hearing on its Exclusivity
Termination Motion so that a hearing can be held on July 21, 2010,
at 9:00 a.m. Eastern Daylight Time, with objections due no later
than Friday, July 16, 2010, at 4:00 p.m. Eastern Daylight Time.

It is necessary for the Court to consider the Termination Motion
no later than the time set for a consideration of the adequacy of
the Debtors' Disclosure Statement, the Equity Committee asserted.

The Equity Committee held that if the Court grants the
Termination Motion, it will proceed to file a plan and disclosure
statement and in that case, it can work with the Debtors to
coordinate solicitation of acceptances of each plan at minimal
cost to the Debtors' estates.  On the other hand, the Equity
Committee said if the Court does not shorten time, then its
ability to coordinate solicitation with the Debtors of its
Alternative Plan will be strained and costs of solicitation will
increase.

                  Court Shortens Notice Period

Upon review, Judge Gerber grants the Equity Committee's request
for a shortened notice period.

Accordingly, the Court is set to convene a hearing on July 21 to
consider the Equity Committee's Termination Motion.  However, the
Court is setting July 19, at 9:00 a.m. Eastern Daylight Time as
the deadline to file objections to the Termination Motion instead
of the July 16 date asked by the Equity Committee.

The Equity Committee's counsel is given until 9:00 a.m. on
July 20 to file and serve a response to any objection asserted.

                    About Chemtura Corp.

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

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


CHEMTURA CORP: Seeks to Solicit Votes for Amended Plan
------------------------------------------------------
In connection with the filing of their amended Chapter 11 Plan and
Disclosure Statement, Chemtura Corporation and its debtor
affiliates seek the establishment of uniform procedures to govern
the solicitation and tabulation of votes on the Plan.

The Debtors specifically ask Judge Gerber to approve:

  a. a timeline for the solicitation of votes on the Plan;

  b. proposed procedures for soliciting and tabulating votes on
     the Plan;

  c. the materials to be included in the solicitation packages,
     including the appropriate form of ballot with respect to
     classes entitled to vote on the Plan;

  d. procedures to govern the contemplated rights offering under
     the Plan and the corresponding form of the rights exercise;
     and

  e. forms of notices and objection procedures that will be used
     in connection with confirmation of the Plan.

The Debtors urge the Court to set July 21, 2010 -- also the day
of the Disclosure Statement hearing -- as the record date or the
date for determining (i) holders of claims and interests entitled
to receive solicitation packages; (ii) holders of claims and
interests entitled to vote on the Plan; and (iii) whether claims
have been properly transferred to an assignee pursuant to Rule
3001(e) of the Federal Rules of Bankruptcy Procedure so that the
assignee can vote.

The Debtors ask the Court to require all holders of Claims and
Interests entitled to vote on the Plan to complete, execute and
return their Ballots so that they are actually received by the
Voting and Claims Agent or the Securities Voting Agent, on or
before September 9, 2010.

The Debtors propose to set September 16, 2010, as the date for
the hearing at which the Court will consider confirmation of the
Plan.  Objections to the confirmation of the Plan are due no
later than September 9.

                         The Amended Plan

Chemtura on July 9 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.

Chemtura maintains that it remains on track to emerge from
Chapter 11 protection in the coming months.

Under the Amended Plan, the New Chemtura Total Enterprise Value
consists of $2.05 billion plus, total cash available to satisfy
allowed unsecured claims, plus the amount of cash to be retained
after the Effective Date, which is expected to be approximately
$125 million.

Redlined copies of the Chemtura Amended Plan and Disclosure
Statement is available for free at:

           http://bankrupt.com/misc/ChemAmPlanRed.pdf
            http://bankrupt.com/misc/ChemAmDSRed.pdf

                    About Chemtura Corp.

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

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


CHEMTURA CORP: Files 2009 Report for Employee Savings Plan
----------------------------------------------------------
Chemtura Corporation filed an annual report for its Employee
Savings Plan annual report for the year ended December 31, 2009,
with the U.S. Securities and Exchange Commission on June 24,
2010.

The Employee Savings Plan sponsored by Chemtura is a defined
contribution plan covering eligible employees of the Company and
its participating subsidiaries.  The Plan is subject to the
provisions of the Employee Retirement Income Security Act of
1974.

The plan administrator of the Savings Plan is the Chemtura
Corporation Employee Benefits Committee.  Fidelity Investments is
the trustee and record keeper of the Plan.  The investments of
the Plan are held in a trust arrangement.

Although the Employee Savings Plan was established with the
intention that it will continue indefinitely, Chemtura retains
the right to discontinue its contributions at any time or to
terminate the Plan, subject to the provisions of ERISA.

A full-text copy of Chemtura's 2009 Employee Savings Plan Report,
filed on Form 11-K with the U.S. Securities and Exchange
Commission Report, is available for free at:

              http://researcharchives.com/t/s?6656

                      Chemtura Corporation
          Chemtura Corporation Employee Savings Plan
     Statements of Net Assets Available for Plan Benefits

                                            December 31
                                   ----------------------------
                                       2009            2008
                                   ------------    ------------
Cash                                 $2,228,997        $112,760

Investment, at fair value:
  Common collective trusts           62,278,045      91,193,720
  Mutual funds                      228,030,909     177,053,950
  Common stock                        8,677,339       5,509,489
  Participant loans                   5,927,360       6,550,120
                                   ------------    ------------
     Total investments              304,913,653     280,307,279
                                   ------------    ------------
Net assets available for plan       307,142,650     280,420,039
  benefits at fair value

Adjustment from fair to contract        782,467       2,994,421
  value for interest in collective
  trusts relating to fully benefit
  responsive investment contracts
                                   ------------    ------------
Net assets available for plan      $307,925,117    $283,414,460
  benefits                         ============    ============

                      Chemtura Corporation
          Chemtura Corporation Employee Savings Plan
              Statements of Changes in Net Assets
                  Available for Plan Benefits
             For the year ended December 31, 2009

Additions:
  Participant contributions                         $10,761,736
  Rollover contributions                                439,457
  Employer contributions                              7,080,287
  Net appreciation in fair value                     57,302,463
     of investments

  Dividend and interest income                        6,080,793
                                                  -------------
     Total additions                                $81,664,736

Deductions:
  Distributions to participants                      56,768,640
  Administrative fees                                   385,439
                                                  -------------
     Total deductions                                57,154,079
                                                  -------------
     Net increase                                    24,510,657

Net assets available for plan benefits, beg.        283,414,460
                                                  -------------
Net assets available for plan benefits, end        $307,925,117
                                                  =============

                    About Chemtura Corp.

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

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


CHEMTURA CORP: Wins Court Okay to Settle Rebate Spat with Exxon
---------------------------------------------------------------
Chemtura Corp. has won court approval to bury the hatchet with
creditor Exxon Mobil Corp. over prepetition claims Chemtura owed
the oil giant under a rebate program in which it participated
before it became insolvent, according to Bankruptcy Law360.

Law360 says Judge Robert E. Gerber of the U.S. Bankruptcy Court
for the Southern District of New York signed off on the parties'
settlement stipulation Tuesday.

                        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)


CHRYSLER LLC: Arbitration with Auto Dealers Nears End
-----------------------------------------------------
Dee-Ann Durbin at The Associated Press reports that all of the
General Motors and Chrysler dealers threatened with closure as
part of the companies' bankruptcy proceedings will soon know their
fate.  The AP says federally appointed arbitrators are down to
just 35 cases out of nearly 1,600 dealers who appealed the
closures, according to India Johnson, senior vice president of the
American Arbitration Association, the dispute resolution service
that handled the cases.

The AP relates hearings are set to wrap up Wednesday, with the
final decisions due by the end of next week.

According to the AP, of the cases that remained before
arbitrators, judgments have been mixed.  The AP relates Chrysler
spokesman Mike Palese said 56 cases had been decided in the
company's favor, while dealers have prevailed in 21 cases.

GM won't release numbers until the arbitration process has ended.

                       About Chrysler Group

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

                        About Chrysler LLC

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

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

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


CHRYSLER LLC: Dispute Arises on Placement of Comma
--------------------------------------------------
Joseph Checkler at Dow Jones Daily Bankruptcy Review reports that
two lawyers in Chrysler LLC's bankruptcy disputed the placement of
some commas at a hearing Thursday.  At stake is $16,000 and an
additional $124,894 in legal fees, the terms of a lemon law case
settlement between Chrysler and California resident Bradley E.
Wolff just days before Chrysler filed for bankruptcy in April
2009.

According to Dow Jones, Mr. Wolff's lawyer, Larry R. Hoddick,
Esq., at Caronna, Johnson & Hoddick LLP, says that post-
bankruptcy, Chrysler agreed it was liable for lemon law claims,
"including but not limited to cases resolved pre-petition, or in
the future, on vehicles manufactured by the Debtors in the five
years prior to the Closing."  Mr. Wolff's 2004 Dodge Ram was made
more than five years before the bankruptcy filing.

Steven L. Holley, Esq., at Sullivan & Cromwell, a lawyer for
Chrysler, told Chief Judge Arthur J. Gonzalez at the hearing that
the wording is clear: Chrysler is only liable for lemon law
damages on cars less than five years old, for cases resolved both
pre-petition and in the future (No comma after after "pre-
petition").  Mr. Holley said in court, "Under normal rules of
English grammar [the comma] refers to everything that precedes
it."

According to Dow Jones, Mr. Hoddick's argument is that the lack of
a comma is a "sleight of hand" that absolves Chrysler from paying
some claims settled before the bankruptcy filing, including
Mr. Wolff's.  Mr. Hoddick contends that if the clause, "in the
future," were set off by commas, Chrysler would be liable to pay
settlements like Mr. Wolff's made before the bankruptcy filing.

"They cannot just remove a comma and then say they don't have to
pay all the cases pre-petition," said Mr. Hoddick, speaking to the
court on the phone from California, Dow Jones reports.

                       About Chrysler Group

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

                        About Chrysler LLC

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

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

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


CHRYSLER LLC: Idles Toledo, Ohio Assembly Plant
-----------------------------------------------
Dow Jones Newswires' Jeff Bennett reports that Chrysler Group LLC
temporarily idled its Toledo, Ohio, assembly plant Thursday after
part shipments were delayed from a hurricane-damaged area in
northeast Mexico.

Chrysler said production will resume Friday.  The plant makes the
Jeep Wrangler and employs about 1,300 workers.

                       About Chrysler Group

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

                        About Chrysler LLC

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

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

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


CITIGROUP INC: To Release Second Quarter Earnings Today
-------------------------------------------------------
Citigroup Inc. will issue its second quarter results via press
release at approximately 8:00 AM on July 16, 2010. At 11:00 AM
(EDT), results will be reviewed via live webcast and
teleconference.

The press release, webcast and presentation materials will be
available at http://www.citigroup.com/citi/fin A replay of the
webcast will be available at
http://www.citigroup.com/citi/fin/pres.htm

To dial-in to the live teleconference, please call (877) 700-4194
(for U.S. and Canada callers) or (706) 679-8401 (for international
callers). Conference code: 78856010

Meanwhile, John Gerspach, Chief Financial Officer, and Eric Aboaf,
Treasurer, will conduct a second quarter 2010 Fixed Income
Investor Review at 8:30 AM (EDT) on July 22, 2010.  The review
will be available live via webcast and teleconference.

The webcast and presentation materials will be available at
http://www.citigroup.com/citi/fin A replay of the webcast will be
available at http://www.citigroup.com/citi/fin/pres.htm

To dial-in to the live teleconference, please dial:

      US & Canada: (800) 309-5794
      International Callers: (706) 902-3256
      Conference code: 80154837

Telephone lines will open at 8:15 AM (EDT).

                       About Citigroup Inc.

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

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

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

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


CITIGROUP INC: Admits Misclassifying Short-Term Trades
------------------------------------------------------
Michael Rapoport at Dow Jones Daily Bankruptcy Review reports that
Citigroup Inc. for the first time has publicly detailed one way it
dressed up its balance sheet and incorrectly hid risk from the
public.  In a filing made public Thursday, Citigroup explained how
it made an accounting mistake that hid billions of dollars in debt
from investors by misclassifying certain short-term trades as
"sales" when they should have been classified as borrowings.

Dow Jones recalls Citi had acknowledged in a securities filing in
May that it had misclassified as much as $9.2 billion of short-
term repurchase agreements, or "repos," at times over the past
three years, but it had provided few details.

According to Dow Jones, the Citi letter -- dated April 13, 2010,
but made public Thursday -- said the improperly-accounted-for
trades were structured to help some of its overseas trading units
meet balance-sheet limits set by the bank.  Citi says it should
have booked the trades as borrowings because the bank demanded
additional collateral from trading partners when it wasn't
supposed to.

According to Dow Jones, Citi said in a statement that "a very
limited number of our business units used this type of transaction
in very small amounts.  The impact of these transactions was never
large enough to have a material impact on Citigroup's financial
statements or our published regulatory capital ratios, including
our leverage ratios."

Citi said it had designed some repo trades, primarily in the U.K.
and Japan, to be accounted for as sales instead of secured
borrowings to assist those trading desks "in complying with
internal limits" on the amount of the bank's balance sheet made
available to the global trading desks.

Because of internal changes at the bank, Citi said in the letter,
it inadvertently collected collateral on some U.K. repo trades
when it wasn't allowed to, thus voiding the sale treatment.  The
bank now classifies all such transactions as borrowings.

Repos are short-term financing arrangements that allow banks to
take bigger risks on securities trades.  Classifying the
transactions as sales instead of borrowings allows a bank to take
assets off its balance sheet and thus reduce its reported
leverage, or assets as a multiple of equity capital.

                       About Citigroup Inc.

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

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

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

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


CLINTON ADAMS: Case Summary & 8 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Clinton Adams
        14410 Woodmore Oaks Court
        Bowie, MD 20721

Bankruptcy Case No.: 10-25688

Chapter 11 Petition Date: July 13, 2010

Court: U.S. Bankruptcy Court
       District of Maryland (Greenbelt)

Judge: Thomas J. Catliota

Debtor's Counsel: Donald L. Bell, Esq.
                  The Law Office of Donald L. Bell, LLC
                  9701 Apollo Drive, Suite 481
                  Upper Marlboro, MD 20774
                  Tel: (301) 773-8631
                  Fax: (301) 773-8634
                  E-mail: donbellaw@yahoo.com

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

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

A copy of the Debtor's list of 8 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/mdb10-25688.pdf

The petition was signed by the Debtor.


COSI, INC: Gets Nasdaq Notice of Minimum Bid Price Non-Compliance
-----------------------------------------------------------------
Cosi, Inc., had received notice from the Listing Qualifications
Department of the Nasdaq Stock Market indicating that, for the
last 30 consecutive business days, the bid price for the Company's
common stock had closed below the minimum $1.00 per share required
for continued inclusion on the Nasdaq Global Market under Nasdaq
Listing Rule 5450(a)(1).  The notification letter states that the
Company will be afforded 180 calendar days, or until January 4,
2011, to regain compliance with the minimum bid price requirement.
In order to regain compliance, shares of the Company's common
stock must maintain a minimum bid closing price of at least $1.00
per share for a minimum of ten consecutive business days.  The
notification letter has no effect at this time on the listing of
the Company's common stock on the Nasdaq Global Market.  Cosi's
common stock will continue to trade on the Nasdaq Global Market
under the symbol "COSI."

If the Company does not regain compliance by January 4, 2011,
Nasdaq will provide written notification to the Company that the
Company's common stock will be delisted.  At that time, the
Company may appeal Nasdaq's delisting determination to a Nasdaq
Listing Qualifications Panel.  Alternatively, the Company may be
eligible for an additional grace period if it satisfies all of the
requirements, other than the minimum bid price requirement, for
initial listing on the Nasdaq Capital Market set forth in Nasdaq
Listing Rule 5505.  To avail itself of this alternative, the
Company would need to submit an application to transfer its
securities to the Nasdaq Capital Market.

The Company intends to actively monitor the bid price for its
common stock between now and January 4, 2011, and will consider
all available options to resolve the deficiency and regain
compliance with the Nasdaq minimum bid price requirement.

                         About Cosi, Inc.

Cosi, Inc. is a national premium convenience restaurant chain that
has developed featured foods built around a secret, generations-
old recipe for crackly crust flatbread.  This artisan bread is
freshly baked in front of customers throughout the day in open
flame stone hearth ovens prominently located in each of the
restaurants.  Cosi's warm and urbane atmosphere is geared towards
its sophisticated, upscale, urban and suburban guests.  There are
currently 86 Company-owned and 58 franchise restaurants operating
in eighteen states, the District of Columbia and the United Arab
Emirates.  The Cosi(R) vision is to become America's favorite
premium convenience restaurant by providing customers authentic,
innovative, savory food while remaining an affordable luxury.


DANIEL BRADFORD: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Daniel J. Bradford
        330 E. Warm Springs
        Las Vegas, NV 89119

Bankruptcy Case No.: 10-22920

Chapter 11 Petition Date: July 12, 2010

Court: United States Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Linda B. Riegle

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

Estimated Assets: $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/nvb10-22920.pdf

The petition was signed by the Debtor.


DBO HOLDINGS: S&P Affirms Corporate Credit Rating at 'B'
--------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its ratings on
Beachwood, Ohio-based tubular products manufacturer DBO Holdings
Inc., including its 'B' corporate credit rating.  S&P also removed
all ratings from CreditWatch with negative implications, where
they were placed on April 15, 2010, because of expected weakness
in cushion relative to covenants.  The outlook is positive.

The 'B' corporate credit rating on DBO Holdings reflects the
company's weak business risk profile and aggressive financial risk
profile.  This is evidenced by the cyclical nature of the
company's end markets, exposure to volatile steel prices, a
significant reliance on nonresidential construction spending, and
high debt leverage.

"S&P's rating and outlook are based on its expectation that DBO
Holdings will likely be able to maintain compliance with the 5.5x
net debt leverage covenant governing its credit facility in the
near term, after cushion relative to that covenant declined to
around 6.5% as of March 31, 2010," said Standard & Poor's credit
analyst Sherwin Brandford.  S&P's rating and outlook also
incorporate its expectation that credit measures will improve over
the next several quarters as a result of the weaker quarters
rolling off of the rolling-12-month calculations and future RTM
EBITDA remaining at a level that supports debt leverage being
maintained in line with the 'B' corporate credit rating.


DUN & BRADSTREET: CEO Dumps 6,948 Shares for Tax Purposes
---------------------------------------------------------
Mathew Sara, Chairman, President and CEO at The Dun & Bradstreet
Corp., disclosed disposing of 6,948 company shares on July 12,
2010.  The transaction involved the withholding of shares to pay
taxes due on restricted stock awards.

Mr. Sara directly holds 40,970.2827 after the transaction.

Mr. Sara also indirectly holds 378.453 common shares held in the
Company's 401(k) plan as of June 30, 2010.  The stake includes
2.149 shares acquired under the 401(k) plan since the date of Mr.
Sara's last ownership report.

Mr. Sara also indirectly holds 3,218.0014 common shares held in
the Company's employee stock purchase plan as of July 13, 2010,
and includes 15.2914 shares acquired under the ESPP since the date
of Mr. Sara's last ownership report.

Short Hills, N.J.-based The Dun & Bradstreet Corporation (NYSE:
DNB) -- http://www.dnb.com/-- is a provider of credit information
on businesses and corporations.  D&B's global commercial database
contains more than 150 million business records.

The Company's balance sheet at March 31, 2010, showed
$1.700 billion in assets and $2.478 billion of liabilities, for a
shareholders' deficit of $778.3 million.


EMMIS COMMUNICATIONS: Director Bayh Reports Sale of Shares
----------------------------------------------------------
Susan B. Bayh, a director at Emmis Communications Corp., disclosed
selling company shares in several transactions in October 2009.

According to a Form 4 document Ms. Bayh filed Wednesday with the
Securities and Exchange Commission, she sold off 6,585 shares of
the Company's Class A common stock for between $1.30 and $1.36 on
October 21, 2009.  The transactions pared her stake to 59,200
shares.

                            About Emmis

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

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

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

                           *     *     *

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

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


EMMIS COMMUNICATIONS: Third Point Raises Preferreds Stake to 11%
----------------------------------------------------------------
New York-based Third Point LLC bought 105,057 shares of Emmis
Communications Corporation's 6.25% Series A Cumulative Convertible
Preferred Stock on July 9, 2010.

The Third Point Funds expended an aggregate of $2,284,821.66 of
their own investment capital to make their most recent acquisition
of the Preferred Stock held by them, which Preferred Stock is
convertible into Class A Common Stock.  The Third Point Funds also
used their own investment capital to make all prior acquisitions
of the Preferred Stock held by them.

New York-based Third Point and its CEO Daniel S. Loeb disclosed
that as of July 9, 2010, they may be deemed to beneficially own
321,057 shares of the Preferred Stock, which are convertible into
783,379 shares of Class A common stock.

Accordingly, Third Point holds 11.4% of the outstanding Preferred
Stock -- and may be deemed to hold 2.3% of Class A shares.

Third Point serves as investment manager or adviser to a variety
of hedge funds and managed accounts, and controls the investing
and trading in securities of the Funds.

On July 9, 2010, Double Diamond Partners LLC, Zazove Aggressive
Growth Fund, L.P., R2 Investments, LDC, DJD Group LLC, Third Point
LLC, the Radoff Family Foundation, Bradley L. Radoff, and LKCM
Private Discipline Master Fund, SPC -- the Locked-Up Holders --
entered into a written lock-up agreement pursuant to which, among
other things, each of them agreed, subject to certain exceptions,
to (1) vote or cause to be voted any and all of its Preferred
Stock against the Proposed Amendments; (2) restrict dispositions
of Preferred Stock; (3) not enter into any agreement, arrangement
or understanding with any person for the purpose of holding,
voting or disposing of any securities of the Company, or
derivative instruments with respect to securities of the Company;
(4) consult with each other prior to making any public
announcement concerning the Company; and (5) share certain
expenses incurred in connection with their investment in the
Preferred Stock, in each case during the term of the Lock-Up
Agreement.  As a result of the Lock-Up Agreement, the Locked-Up
Holders may be deemed to have formed a group within the meaning of
Rule 13d-5(b) under the Act.

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

                            About Emmis

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

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

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

                           *     *     *

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

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


EVERYCALL COMMUNICATIONS: Voluntary Chapter 11 Case Summary
-----------------------------------------------------------
Debtor: EveryCall Communications, Inc.
        dba All American Home Phone
        dba Local USA
        4315 Bluebonnet Blvd., Suite A
        Baton Rouge, LA 70809

Bankruptcy Case No.: 10-11054

Chapter 11 Petition Date: July 12, 2010

Court: United States Bankruptcy Court
       Middle District of Louisiana (Baton Rouge)

Debtor's Counsel: Brandon A. Brown, Esq.
                  Stewart Robbins & Brown, LLC
                  247 Florida Street
                  P.O. Box 66498
                  Baton Rouge, LA 70896
                  Tel: (225) 231-9998
                  Fax: (225) 709-9467
                  E-mail: bbrown@stewartrobbins.com

Estimated Assets: $0 to $50,000

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

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

The petition was signed by John H. Brydels, Jr., Debtor's chief
financial officer, director.


EXPRO HOLDINGS: Moody's Downgrades Corporate Family Rating to 'B3'
------------------------------------------------------------------
Moody's Investors Service downgraded the corporate family rating
and the probability of default rating of Expro Holdings UK 3
Limited to B3 from B2.  It also downgraded the rating of the
senior secured US$1.4 billion notes due 2016 to B2 from B1.  The
rating outlook is negative.

The downgrades reflect Expro's somewhat weak performance for the
year ending March 2010, with revenue and Ebitda below Moody's
expectations, and net leverage (as adjusted by Moody's) being
higher than expected at 7.3x.  It also incorporates Moody's view
that the company's near-term market outlook remains uncertain, and
the expectation that Expro will now generate negative free cash
flow at least in 2010/11.

Revenue for 2009/10 of US$1.02 billion was 19% below the previous
year.  Much of this decline may be attributed to ongoing weak
global economic conditions, along with the fact that the average
crude price of US$70/bbl was lower than expected by the company.
Expro's order backlog has also reduced materially over the past
year, although the company believes that it now sees evidence of
market recovery through increased customer enquiries and bids.

Whereas Moody's had previously anticipated that Expro would
generate positive free cash flow in 2010/11, this no longer
appears likely.  The continuing rollup of a material portion of
interest on the mezzanine facility (balance of US$802 million at
March 31, 2010) will also further increase the company's
indebtedness.

Although Expro improved its working capital in 2009/10, the
anticipated negative free cash flow also weakens the company's
liquidity profile.  Expro reported cash of US$193 million at
March 31, 2010, and it has about US$70 million available on its
US$100 million bank revolver.  There is no debt amortization or
refinancing requirement until the revolver matures in December
2014.  Covenant compliance is currently acceptable.

The consequences of the Macondo oil spill in the Gulf of Mexico on
the deepwater oil industry also remain uncertain.  Although
Expro's direct activities in the Gulf of Mexico are limited, both
the near-term and longer-term implications for the oil exploration
industry are unclear.  Moody's acknowledges that over time demand
for Expro's services may increase as a result of increased
industry focus on safety and regulation; but this may follow a
period of reduced exploration activity as the oil industry adjusts
to the post-Macondo world.

The negative outlook reflects the fact that the credit is weakly
positioned in the B3 rating category, given the combination of
high leverage and negative anticipated free cash flow.

The last credit rating announcement for Expro was on December 3,
2009, when a B2 CFR was assigned with a stable outlook, and a
(P)B1 rating was assigned to the senior secured notes.

Headquartered in the United Kingdom, Expro is a leading provider
of services and products to the upstream oil and gas industry.
About 25% of revenue is from onshore markets and about 75% from
offshore markets.  In July 2008, the company was bought by a
private equity consortium led by Candover and GS Capital Partners
VI Fund, L.P.  For the year ending March 2010, the Expro group
reported revenue of about US$1.02 billion.


EXTREME REALTY: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Extreme Realty, LLC
        P.O. Box 269
        West Chatham, MA 02669

Bankruptcy Case No.: 10-17554

Chapter 11 Petition Date: July 13, 2010

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

Judge: William C. Hillman

Debtor's Counsel: Norman Novinsky, Esq.
                  Novinsky & Associates
                  1350 Belmont Street, Suite 105
                  Brockton, MA 02301
                  Tel: (508) 559-1616
                  Fax: (508) 588-9306
                  E-mail: nnovinsky@msn.com

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

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

According to the schedules, the Company says that assets total
$1,100,000 while debts total $952,400.

The Company's list of unsecured creditors filed together with its
petition does not contain any entry.

The petition was signed by Douglas Meservey, president.


FIRST BANCORP: NYSE Notes of Stock Trading Under $1 for 30 Days
---------------------------------------------------------------
First BanCorp disclsoed that on July 9, 2010, it received notice
from the New York Stock Exchange that the Corporation has fallen
below the NYSE's continued listing standard regarding price
criteria for its common stock, as a result of the Corporation's
common shares having an average closing price of less than $1.00
per share over a consecutive 30 trading-day period.

The Corporation will inform the NYSE in writing of its intent to
seek to cure the deficiency.  The Corporation has six months from
the date of the NYSE notice to have a closing share price and a 30
trading-day average share price of at least $1.00 in order to
avoid the delisting of its shares.  If the Corporation fails to
become compliant, the NYSE may delist its common stock.

The Corporation's business operations and Securities and Exchange
Commission reporting requirements are unaffected by this notice.

                      About First BanCorp

First BanCorp -- http://www.firstbankpr.com-- is the parent
corporation of FirstBank Puerto Rico, a state-chartered commercial
bank with operations in Puerto Rico, the Virgin Islands and
Florida, and of FirstBank Insurance Agency.  First BanCorp and
FirstBank Puerto Rico operate under U.S. banking laws and
regulations.  The Corporation operates a total of 176 branches,
stand-alone offices and in-branch service centers throughout
Puerto Rico, the U.S. and British Virgin Islands, and Florida.
Among the subsidiaries of FirstBank Puerto Rico are First Federal
Finance Corp., a small loan company; FirstBank Puerto Rico
Securities, a broker-dealer subsidiary; First Management of Puerto
Rico; and FirstMortgage, Inc., a mortgage origination company. In
the U.S. Virgin Islands, FirstBank operates First Insurance VI, an
insurance agency, and First Express, a small loan company.  First
BanCorp's common and publicly-held preferred shares trade on the
New York Stock Exchange under the symbols FBP, FBPPrA, FBPPrB,
FBPPrC, FBPPrD and FBPPrE.


FLOYD AND BEASLEY: To Shut Down for Good; 120 to Lose Jobs
----------------------------------------------------------
Matt Quillen at The Daily Home reports that Floyd and Beasley
Transfer Company's president Jeff Floyd said the company will shut
down for good this week, leaving about 120 employees jobless.  The
Company, which offers truck loading services, has been struggling
financially.

Floyd and Beasley Transfer Company, Inc. is a family owned
transportation company located in Sycamore, Alabama.


FRASER PAPERS: Generates Negative EBITDA of $0.8 Million
--------------------------------------------------------
Fraser Papers Inc. reported financial results for the first
quarter ended April 10, 2010.

As a result of the sale of the Company's specialty papers assets
to Twin Rivers Paper Company Inc. and the sale of the Company's
pulp mill in Thurso, Quebec in April 2010, the Company has
classified its specialty papers business and Thurso pulp mill as
"held for sale" as at December 31, 2009 and April 10, 2010.  The
operating results of these operations have been disclosed as
"discontinued operations" in the Statements of Operations.

The Company generated an EBITDA loss of C$0.8 million from
continuing operations in the first quarter of 2010 compared to
positive EBITDA of C$2.4 million in first quarter of 2009.  Net
loss for the first quarter amounted to C$13.1 million or C$0.26
per share compared to a loss of C$16.7 million or $0.33 per share
in the first quarter of 2009.  During the first quarter of 2010,
the Company recorded an impairment charge related to its paper
mill in Gorham, New Hampshire of C$7.5 million or C$0.15 per
share.

Fraser Papers has filed its first quarter 2010 financial
statements, including the related management discussion and
analysis, on SEDAR at http://www.sedar.com  As a result, the
Company is now in compliance with its continuous disclosure
obligations.

On June 18, 2009, citing continued operating losses, weak markets
for its products, impending debt repayments and significant
pension funding obligations, the Company and its subsidiaries
filed for creditor protection under the Companies' Creditors
Arrangement Act in Canada and Chapter 15 of the U.S. Bankruptcy
Code.

In December 2009, Fraser Papers submitted a restructuring proposal
to the courts that has provided for an early exit from creditor
protection for its core specialty papers business and should
provide for the maximum recovery of value for creditors.  The
proposal involved a two-stage process that created a stand-alone
business out of the Company's specialty papers assets to be
followed by the subsequent divestiture of the remaining assets by
way of separate transactions.

The proceeds from the sale of the specialty papers assets to Twin
Rivers, plus additional proceeds from the sale of the remaining
assets in Fraser Papers, will be used to settle the remaining
secured claims against the Company, prior to distributing any
remaining proceeds to its unsecured creditors.  The remaining
assets include a paper mill in Gorham, New Hampshire and two
lumbermills in northern Maine.  The Company completed the sale to
Twin Rivers on April 28, and the sale of the pulp mill in Thurso,
Quebec on April 30, 2010.

The ultimate recovery for the creditors of Fraser Papers, if any,
will not be determined until a final determination of all the
claims against the Company and a distribution of the net proceeds.

                      About Fraser Papers

Fraser Papers -- http://www.fraserpapers.com/-- is an integrated
specialty paper company that produces a broad range of specialty
packaging and printing papers.  The Company has operations in New
Brunswick, Maine, New Hampshire and Quebec.

On June 18, 2009, citing continued operating losses, weak markets
for pulp and lumber, impending debt repayments and significant
pension funding obligations, the Company and its subsidiaries
filed for protection under the Companies Creditors Arrangement Act
(Ont. Super. Ct. J. Ct. File No. CV-09-8241-00CL) in Toronto and
Chapter 15 (Bankr. D. Del. Case No. 09-12123) of the U.S.
Bankruptcy Code.  Fraser is represented by Michael Barrack, Esq.,
Robert I. Thornton, Esq., and D.J. Miller, Esq., at
ThorntonGroutFinnigan LLP, in Toronto, and Derek C. Abbott, Esq.,
at Morris, Nichols, Arsht & Tunnell LLP, in Wilmington, Del.  With
adequate financing to support continuing operations, Fraser says
it is developing a restructuring plan to present to its creditors
-- hopefully by Oct. 16, 2009 -- with the objective of emerging
with a sustainable and profitable specialty papers business.


GEMMA CALLISTE: Case Summary & 16 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Gemma Calliste
        11016 Lake Victoria Lane
        Bowie, MD 20720

Bankruptcy Case No.: 10-00685

Chapter 11 Petition Date: July 13, 2010

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

Judge: S. Martin Teel, Jr.

Debtor's Counsel: Jeffrey M. Sherman, Esq.
                  Jackson & Campbell
                  1120 20th Street, NW, Suite 300 South
                  Washington, DC 20036
                  Tel: (202) 457-1613
                  Fax: (202) 457-1678
                  E-mail: jsherman@jackscamp.com

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

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

A copy of the Debtor's list of 16 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/dcb10-00685.pdf

The petition was signed by the Debtor.


GENERAL GROWTH: Files Registration for Exchangeable Notes
---------------------------------------------------------
General Growth Properties, Inc.'s New GGP, Inc., has filed a
registration statement on Form S-11 with the Securities and
Exchange Commission relating to a proposed offering of up to
$2.15 billion aggregate principal amount of mandatorily
exchangeable notes.  The notes will be exchangeable for shares of
the Issuer's common stock, subject to certain conditions,
including the consummation of GGP's proposed plan of
reorganization, which was filed on July 13, 2010, with the United
States Bankruptcy Court for the Southern District of New York.
Proceeds of the offering, which is subject to Bankruptcy Court
approval, would be used to replace a portion of the previously
announced commitments to fund GGP's plan of reorganization from
affiliates of The Fairholme Fund, Pershing Square Capital
Management and Teacher Retirement System of Texas.

This offering will be made only by means of a prospectus.

A registration statement relating to these securities has been
filed with the Securities and Exchange Commission but has not yet
become effective.  These securities may not be sold nor may offers
to buy be accepted prior to the time the registration statement
becomes effective.  The registration statement on Form S-11 may be
accessed through the Securities and Exchange Commission's website
at http://www.sec.gov


                      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: Proposes Epiq as Plan Voting Agent
--------------------------------------------------
General Growth Properties Inc. and its units seek Court's
permission to employ Epiq Bankruptcy Solutions LLC as their voting
and solicitation agent in connection with the Joint Plan of
Reorganization.

As the Plan Debtors' voting agent, Epiq will:

  (a) provide advice to the Debtors and their counsel regarding
      all aspects of the Plan vote, including timing issues,
      voting and tabulation procedures, or treatment election,
      and related documents;

  (b) review the relevant portions of the Disclosure Statement,
      ballots, election forms and other documents particularly
      as they may relate to beneficial owners of securities held
      in Street name;

  (c) work with General Growth Properties, Inc. to request
      appropriate information with respect to the debt and
      equity securities from The Depository Trust Company, the
      transfer agent of the equity, the indenture trustee for
      the relevant debt securities, or other agent;

  (d) mail voting documents to any registered record holders of
      equity, and, if requested, bank debt or other parties
      entitled to vote;

  (e) coordinate the distribution of any election documents to
      Street name holders of debt securities by forwarding the
      appropriate documents to the reorganization departments of
      the banks and brokerage firms holding the securities, who
      in turn will forward it to the beneficial owners for
      action;

  (f) distribute copies of the master ballots to the appropriate
      nominees after the initial mailing, so that firms may cast
      votes on behalf of beneficial owners of equity;

  (g) prepare certificates of service for filing with the Court;

  (h) handle requests for documents from parties in interest,
      including brokerage firm and bank back-offices and
      institutional holders;

  (i) respond to telephone inquiries from security holders,
      nominees, and voting parties regarding the Disclosure
      Statement and the voting and election procedures.  Epiq
      will restrict its answers to the information contained in
      the Plan documents.  Epiq will seek assistance from the
      company or its counsel on any questions that fall outside
      of the voting and election documents;

  (j) if requested to do so, Epiq will make telephone calls to
      voting parties to confirm receipt of Plan documents and
      respond to questions about the voting procedures;

  (k) receive and examine all ballots and master ballots cast by
      holders of equity.  Epiq will date-stamp the originals of
      all those ballots and master ballots upon receipt;

  (l) tabulate all ballots and master ballots received before
      the voting deadline in accordance with established
      procedures, and prepare a vote certification for
      filing with the court;

  (m) in connection with any treatment election, Epiq would act
      as ATOP agent and coordinate the transaction with DTC; and

  (n) undertake other duties as may be agreed upon by the
      Debtors and Epiq.

The Plan Debtors relate that their proposed employment of Epiq
will not affect the Debtors' previous employment of Kurtzman
Carson Consultants LLC as claims agent.  The Plan Debtors have
coordinated with Epiq and KCC and the two will work together
rather than duplicate efforts.

The Debtors will also pay Epiq's professionals customary hourly
rates:

    Title                          Rate per Hour
    -----                          -------------
    Executive vice president           $369
    Vice President                     $324
    Senior Consultant                  $270
    Senior Case Manager             $203 to $248
    Case Manager Level 2            $167 to $198
    IT Programming Consultant       $126 to $162
    Case Manager Level 1            $113 to $158
    Clerical                         $36 to $54

In connection with Epiq's services, Epiq has sought a retainer of
$25,000 to fund out-of-pocket and other charges on a rolling
basis.  Epiq will apply the retainer to the final bill and refund
any difference at the end of the engagement.

The Plan Debtors will reimburse Epiq for expenses incurred.  A
schedule of Epiq's rates for certain services is available for
free at http://bankrupt.com/misc/ggp_EpiqPricingSched.pdf

Jane Sullivan, executive vice president of Epiq --
jsullivan@epiqsystems.com -- relates that as of January 1, 2010,
Financial Balloting Group combined with, and does business as,
Epiq.  She further notes that Epiq continue to maintain
appropriate ethical walls to ensure that the firm's professionals
supporting Epiq's role as information agent to the Official
Committee of Unsecured Creditors are screened completely from
Epiq professionals responsible for Epiq's role as voting agent
for the Plan Debtors, she assures the Court.

Ms. Sullivan maintains that Epiq is a "disinterested person" as
the term is defined in Section 101(14) of the Bankruptcy Code.

                     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: Seeking Approval of Disclosure Statement
--------------------------------------------------------
General Growth Properties, Inc., and about 126 debtor affiliates
ask Judge Allan L. Gropper of the U.S. Bankruptcy Court to approve
the Disclosure Statement explaining their Joint Plan of
Reorganization dated July 12, 2010, as containing "adequate
information" pursuant to Section 1125(a) of the Bankruptcy Code.

The Court will convene a hearing on August 19, 2010, to consider
approval of the Disclosure Statement.  Objections, if any, to the
Disclosure Statement must be in writing and received no later than
August 11.

The Debtors also seek the Court's permission to commence
solicitation of the Joint Plan of Reorganization in accordance
with proposed solicitation schedule and protocol.

The Plan Debtors' proposed solicitation timetable is:

   Event                                             Deadline
   -----                                             --------
   Deadline for Plan Debtors to                 July 14, 2010
   Serve Notice of Disclosure Statement
   Hearing

   Disclosure Statement Objection             August 11, 2010
   Deadline

   Disclosure Statement Hearing               August 19, 2010

   Voting Record Date                         August 19, 2010

   Solicitation Deadline:            Five business days after
                                     the date of entry of an
                                     order approving the
                                     Disclosure Statement

   Voting and Elections Deadline              October 7, 2010

   Confirmation Objection Deadline            October 7, 2010

   Voting Certification Deadline             October 14, 2010

   Confirmation Hearing:                      To be scheduled

The Debtors ask the Court to fix August 19, 2010, as the record
date for determining: (a) the holders of Claims entitled to
receive a Solicitation Package; (b) the holders of Claims
entitled to vote to accept or reject the Plan; and (c) whether
Claims have been properly transferred to an assignee pursuant to
Rule 3001(e) of the Federal Rules of Bankruptcy Procedure so that
the assignee can vote as the holder of that Claim.

                        The Chapter 11 Plan

General Growth Properties, Inc., and about 126 debtor affiliates
delivered to Judge Allan L. Gropper of the U.S. Bankruptcy Court
for the Southern District of New York their Joint Plan of
Reorganization and accompanying Disclosure Statement on July 12,
2010.

The Plan Debtors tell the Court that the Plan provides for their
emergence from bankruptcy, which they expect to occur in October
2010.  "Under the Plan, GGP will satisfy its debt and other
Claims in full, provide a substantial recovery for equity
holders, and implement a recapitalization with $7 to $8.5 billion
of new capital," counsel to the Plan Debtors, Marcia L.
Goldstein, Esq., at Weil, Gotshal & Manges LLP, in New York,
relates.

At emergence, GGP will split itself into two publicly-traded
companies namely "New GGP" and "Spinco" and current shareholders
will receive common stock in both companies.

The Plan is based on the Investment Agreements with REP
Investments LLC, an affiliate of Brookfield Asset Management,
Inc.; The Fairholme Fund and Fairholme Focused Income Fund, each
a series of Fairholme Funds, Inc., and Pershing Square II, L.P.,
which include commitments to fund $8.55 billion of capital:

  * $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; and

  * $500 million backstop equity commitment by REP and Pershing
    Square for a rights offering by New GGP.

GGP has also executed an agreement with Teacher Retirement System
of Texas for Texas Teachers' investment of $500 million for
shares of New GGP Common Stock at $10.25 per share.  The Texas
Teachers Investment is subject to a separate motion for approval
by the Bankruptcy Court.

Full-text copies of the July 12, 2010 Plan and Disclosure
Statement are available for free at:

            http://bankrupt.com/misc/ggp_Jul12Plan.pdf
            http://bankrupt.com/misc/ggp_Jul12DS.pdf

The Court will consider approval of the Disclosure Statement on
August 19, 2010, according to GGP's public statement dated
July 12, 2010.

                     About General Growth

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

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

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


GENERAL MOTORS: Arbitration With Auto Dealers Nears End
-------------------------------------------------------
Dee-Ann Durbin at The Associated Press reports that all of the
General Motors and Chrysler dealers threatened with closure as
part of the companies' bankruptcy proceedings will soon know their
fate.  The AP says federally appointed arbitrators are down to
just 35 cases out of nearly 1,600 dealers who appealed the
closures, according to India Johnson, senior vice president of the
American Arbitration Association, the dispute resolution service
that handled the cases.

The AP relates hearings are set to wrap up Wednesday, with the
final decisions due by the end of next week.

According to the AP, of the cases that remained before
arbitrators, judgments have been mixed.  The AP relates Chrysler
spokesman Mike Palese said 56 cases had been decided in the
company's favor, while dealers have prevailed in 21 cases.

GM won't release numbers until the arbitration process has ended.

                         About General Motors

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

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

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

                   About Motors Liquidation

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

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

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


GENERAL MOTORS: Edmunds CEO Questions Rush to Have IPO
------------------------------------------------------
July 10, 2010, marked the one-year anniversary of General Motors'
emergence from bankruptcy.  The company has come a long way, and
is moving quickly down the road to create an initial public
offering (IPO) for its new stock.  Edmunds.com, the premier online
resource for automotive information, recognizes the progress that
has been made but questions the rush to have an IPO.

"This is certainly not the economic climate in which I'd want to
have an IPO since it is likely to reduce the initial valuation of
the stock.  Negativity about the economy continues to swirl about
and the psychological effect is putting a damper on all things it
touches; what may be the most significant IPO in history will not
be immune," stated Edmunds.com CEO Jeremy Anwyl.  "One can't help
but wonder: what is the rush?"

In a report on AutoObserver.com, Senior Editor Bill Visnic and
Edmunds.com analysts explore the following possibilities:

-- Is there pressure from current shareholders like the government
   and the UAW VEBA trust who are anxious to liquidate their
   shares?

-- Is GM trying to go public while the company has a fair amount
   of positive momentum in anticipation that the future may not be
   quite as positive?

-- Is the timing political, targeted to happen before the next
   election so that the current administration can take credit for
   seeing the process from start to finish?

"Regardless of whether any of these possibilities hold any weight,
GM executives must have reasons for expediting the IPO," stated
Anwyl.  "The company would benefit from clarifying its reasoning
publicly and openly in order to build trust and credibility and to
resolve public curiosity."

"When GM stock is offered, the US government can sell all or a
portion of its 60.8% stake in the 'new' GM.  This would free up
TARP funds that could be applied to something else, like
unemployment benefits which may provide a measurable boost to the
economy," Edmunds.com Senior Economist Rebecca Braeu, PhD told
AutoObserver.com.  "The big question is whether the government
will receive payback of its $49.5 billion investment in GM."

                     About Edmunds Inc.

Headquartered in Santa Monica, California, Edmunds Inc. --
http://www.edmunds.com/help/about/-- publishes four Web sites
that empower, engage and educate automotive consumers, enthusiasts
and insiders.  Edmunds.com, the premier online resource for
automotive consumer information, launched in 1995 as the first
automotive information Web site. Its most popular feature, the
Edmunds.com True Market Value(R), is relied upon by millions of
people seeking current transaction prices for new and used
vehicles.  Edmunds.com was named "Best Car Research Site" by
Forbes ASAP, has been selected by consumers as the "Most Useful
Web Site" according to every J.D. Power and Associates New
Autoshopper.com Study(SM), was ranked first in the Survey of Car-
Shopping Web Sites by The Wall Street Journal and was rated "#1"
in Keynote's study of third-party automotive Web sites.  Inside
Line launched in 2005 and is the most-read automotive enthusiast
Web site. CarSpace launched in 2006 and is an automotive social
networking Web site and home to the oldest and most established
automotive community.  AutoObserver.com launched in 2007 and
provides insightful automotive industry commentary and analysis.

                       About General Motors

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

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

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

                   About Motors Liquidation

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

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

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


GENERAL NUTRITION: Moody's Gives Pos. Outlook, Affirms 'B3' Rating
------------------------------------------------------------------
Moody's Investors Service changed General Nutrition Centers,
Inc.'s rating outlook to positive from stable and upgraded the
Speculative Grade Liquidity Rating to SGL-2 from SGL-3.  All other
ratings, including its B3 Corporate Family Rating, are affirmed.

"The change in outlook to positive reflects GNC's improvement in
credit metrics, notably despite the weak economy, and Moody's
expectation that its earnings will continue to grow," said Moody's
Senior Analyst Maggie Taylor.

The upgrade of the Speculative Grade Liquidity Rating to SGL-2
primarily reflects the higher cash balances and Moody's
expectation that the company will generate sufficient free cash
flow over the next twelve months to fund its working capital and
capital expenditure requirements.  While the company is not
reliant on the revolver, the revolver size is relatively small and
it expires in March 2012.

GNC's B3 Corporate Family Rating reflects the company's
substantial level of debt which results in high leverage.
Although Moody's expects earnings and leverage to improve, Moody's
believe GNC will likely remain highly leveraged over the next
twelve to eighteen months.  Another key consideration of the
rating is the high risk of adverse publicity and product liability
claims associated with the vitamins, minerals, and nutritional
supplements industry.  However, the VMS industry has performed
well through the economic downturn -- a significant credit
positive.  Positive ratings consideration is also given to GNC's
international diversification and well recognized brand name.

This was upgraded:

* Speculative Grade Liquidity rating to SGL-2 from SGL-3.

These ratings were affirmed:

* Corporate family rating at B3;
* Probability-of-default rating at B3;
* $704 million senior secured credit facility at B1 (LGD 2, 27%);
* $300 million senior notes at Caa1 (LGD 5, 77%); and
* $110 million senior subordinated notes at Caa2 (LGD 6, 95%).

The last rating action on GNC was on February 28, 2007, when the
B3 Corporate Family Rating was assigned.

General Nutrition Centers, Inc., headquartered in Pittsburgh,
Pennsylvania, manufactures and retails vitamins, minerals, and
nutritional supplements domestically and internationally.  About
74% of the company's revenues are generated by approximately 2,800
company-owned stores and website.  It also has over 2,200 retail
franchises located in the U.S. and 49 countries that generate
about 15% of its revenue and its wholesale operation (which
includes sales to drugstore.com and the store within a store
concept at over 1,900 Rite Aid stores) generates about 11% of
revenue.  Total revenues are $1.7 billion.


GLOUCESTER ENGINEERING: Davis-Standard Wants Court to Block Sale
----------------------------------------------------------------
Patrick Anderson at Gloucester Times reports that Davis-Standard
asked a federal court judge to prevent Gloucester Engineering's
lender Blue Wolf Capital Management from acquiring all of the
company.

David-Standard said it had been making overtures to buy the
company since January 2010, but had not received any response to
its offer, Mr. Anderson relates.  Davis-Standard said its main
focus now is getting enough information about the company in order
to make an intelligent offer, he notes.

                   About Gloucester Engineering

Since its inception in 1961, Gloucester Engineering Company has
been a global leader in advancing quality and production limits in
the plastics extrusion and converting market.  GEC offers a range
of innovative system and component solutions, for both new lines
and retrofits, that provide customers a competitive edge in
applications that include bag making, foam and sheet extrusion,
blown and cast film extrusion, and extrusion coating.

GEC manufactures its equipment from its headquarters in
Gloucester, MA, USA and through its joint-venture company in
Damman, India, Kabra Gloucester Engineering.

Gloucester Engineering's Chapter 7 case -- filed on March 23, 2010
-- was converted to Chapter 11 bankruptcy protection on June 25,
2010 (Bankr. D. Mass. Case No. 10-12967).


GPX INTERNATIONAL: Customs Opposes Chapter 11 Liquidation Plan
--------------------------------------------------------------
Bankruptcy Law360 reports that U.S. Customs and Border Protection
is opposing GPX International Tire Corp.'s Chapter 11 plan of
liquidation, claiming the plan impermissibly discharges GPX from
liability for duties at the center of a case in the U.S. Court of
International Trade.

Customs' objection, filed Monday in the U.S. Bankruptcy Court for
the District of Massachusetts, claimed that GPX owes it $268,469
in addition to "numerous unliquidated amounts" that can't be
determined, according to Law360.

                       About GPX International

GPX International Tire Corporation was one of the largest
independent global providers of specialty "off-the-road" tires for
the agricultural, construction, materials handling and
transportation industries.  GPX is a worldwide company,
headquartered in Malden, Massachusetts, with operations in
NorthAmerica, China, Canada, and Germany.  A third generation
family-owned business, GPX and its predecessor companies have been
in business since 1922.

GPX International filed for Chapter 11 on Oct. 26, 2009 (Bankr. D.
Mass. Case No. 09-20170).  GPX is represented in U.S. Bankruptcy
Court by attorneys Harry Murphy of Hanify & King, P.C., and Peggy
Farrell of Hinckley Allen & Snyder LLP as corporate counsel.  TM
Capital Corp. serves as investment banker to GPX in connection
with these transactions and Argus Management Corporation serves as
restructuring advisor to GPX.  The petition says assets and debts
range from $100 million to $500 million.


GRAY TELEVISION: Capital World Investors Reports 10.2% Stake
------------------------------------------------------------
Capital World Investors, a division of Capital Research and
Management Company, is deemed to be the beneficial owner of
5,261,981 shares or 10.2% of the 51,381,084 shares of Gray
Television, Inc. Common Stock believed to be outstanding as a
result of CRMC acting as investment adviser to various investment
companies registered under Section 8 of the Investment Company Act
of 1940.  Class A Common Stock and Common Stock vote together as a
singled class of shares.  Class A Common Stock has 10 votes per
shares.

                       About Gray Television

Gray Television, Inc. (NYSE: GTN) -- http://www.gray.tv/-- is a
television broadcast company headquartered in Atlanta, Georgia.
Gray currently operates 36 television stations serving 30 markets.
Each of the stations are affiliated with either CBS (17 stations),
NBC (10 stations), ABC (8 stations) or FOX (1 station).  In
addition, Gray currently operates 39 digital second channels
including 1 ABC, 4 FOX, 7 CW, 18 MyNetworkTV, 2 Universal Sports
Network affiliates and 7 local news/weather channels in certain of
its existing markets.

As of March 31, 2010, the Company had total assets of
$1.235 billion against total liabilities of $1.053 billion and
preferred stock of $93.687 million, resulting in stockholders'
equity of $88.140 million.

                           *     *     *

As reported by the Troubled Company Reporter on May 5, 2010,
Standard & Poor's Ratings Services raised its corporate credit
rating on Gray to 'B-' from 'CCC'.  S&P removed the rating from
CreditWatch, where it was placed with positive implications on
April 20, 2010.  The rating outlook is stable.

The TCR on April 22, 2010, reported that Moody's Investors Service
assigned a Caa2 rating to the proposed $365 million issuance of
guaranteed senior secured second lien notes due 2015 by Gray
Television.  At the same time, Moody's upgraded its Probability of
Default Rating and Speculative Grade Liquidity Rating for the
company, to Caa1 from Caa2 and to SGL-2 from SGL-4, respectively.
Gray's Caa1 Corporate Family Rating remains unchanged.


GRAY TELEVISION: Offers to Exchange Unregistered 10-1/2% Notes
--------------------------------------------------------------
Gray Television, Inc., is offering to exchange up to $365,000,000
aggregate principal amount of newly issued 10-1/2% Senior Secured
Second Lien Notes due 2015 for a like principal amount of
outstanding restricted 10-1/2% Senior Secured Second Lien Notes
due 2015 issued April 2010.

On April 29, 2010, Gray issued $365.0 million aggregate principal
amount of restricted 10-1/2% Senior Secured Second Lien Notes due
2015 in a private placement exempt from the registration
requirements under the Securities Act of 1933.

The terms of the exchange notes are substantially identical to the
terms of the original notes, except that the exchange notes will
be issued in a transaction registered under the Securities Act,
and the transfer restrictions and registration rights and related
special interest provisions applicable to the original notes will
not apply to the exchange notes.  The exchange notes will be
exchanged for original notes in denominations of $2,000 and
integral multiples of $1,000 in excess thereof.  Gray will not
receive any proceeds from the issuance of exchange notes in the
exchange offer.

The exchange offer expires at 9:00 a.m., New York City time, on
August 6, 2010, unless extended.

Gray does not intend to list the exchange notes on any national
securities exchange or to seek approval through any automated
quotation system, and no active public market for the exchange
notes is anticipated.

A full-text copy of the prospectus is available at no charge
at http://ResearchArchives.com/t/s?6676

                       About Gray Television

Gray Television, Inc. (NYSE: GTN) -- http://www.gray.tv/-- is a
television broadcast company headquartered in Atlanta, Georgia.
Gray currently operates 36 television stations serving 30 markets.
Each of the stations are affiliated with either CBS (17 stations),
NBC (10 stations), ABC (8 stations) or FOX (1 station).  In
addition, Gray currently operates 39 digital second channels
including 1 ABC, 4 FOX, 7 CW, 18 MyNetworkTV, 2 Universal Sports
Network affiliates and 7 local news/weather channels in certain of
its existing markets.

As of March 31, 2010, the Company had total assets of
$1.235 billion against total liabilities of $1.053 billion and
preferred stock of $93.687 million, resulting in stockholders'
equity of $88.140 million.

                           *     *     *

As reported by the Troubled Company Reporter on May 5, 2010,
Standard & Poor's Ratings Services raised its corporate credit
rating on Gray to 'B-' from 'CCC'.  S&P removed the rating from
CreditWatch, where it was placed with positive implications on
April 20, 2010.  The rating outlook is stable.

The TCR on April 22, 2010, reported that Moody's Investors Service
assigned a Caa2 rating to the proposed $365 million issuance of
guaranteed senior secured second lien notes due 2015 by Gray
Television.  At the same time, Moody's upgraded its Probability of
Default Rating and Speculative Grade Liquidity Rating for the
company, to Caa1 from Caa2 and to SGL-2 from SGL-4, respectively.
Gray's Caa1 Corporate Family Rating remains unchanged.


GREEKTOWN HOLDINGS: Plan Takes Effect; Litigation Trust Formed
--------------------------------------------------------------
The Second Amended Joint Plans of Reorganization for Greektown
Holdings LLC, et al., became effective on June 30, 2010.  Pursuant
to the Plan, the Greektown Litigation Trust was formed for the
benefit of the unsecured creditors of Greektown Holdings LLC and
Greektown Casino LLC.  Buchwald Capital Advisors LLC was appointed
as trustee.

A copy of the disclosure statement and Plan is available at:

http://www.kccllc.com/kcc/documents/0853104/0853104091208000000000
011.pdf

A copy of the confirmation order is available at:

http://www.kccllc.com/kcc/documents/0853104/0853104100122000000000
003.pdf

The First Amended Plan Supplement is available at:

http://www.kccllc.net/documents/0853104/0853104100629000000000003.
pdf

The Trust, which will take over from the Creditors' Committee
following the Effective Date of the Plan, is seeking to avoid and
recover approximately $177 million in certain transfers made by
Greektown Holdings LLC in December 2005 for the benefit of the
defendants, including Dimitrios (Jim) Pappas and Viola Papas, Ted
Gatzaros and Maria Gatzaros, Barden Development, Inc., Barden
Nevada Gaming, LLC, Lac Vieux Desert Band of Lake Superior
Chippewa Indians and Sault Ste. Marie Tribe of Chippewa Indians,
Kewadin Casinos Gaming Authority.  Prosecuting this lawsuit was
the main purpose for establishing the Litigation Trust.

Mark N. Parry of Moses & Singer LLP represented the Indenture
Trustee, Deutsche Bank Trust Company Americas, in the Chapter 11
proceedings and was instrumental in identifying the causes of
action set forth in the complaint.

Buchwald Capital can be reached at:

     Lee E. Buchwald
     President
     Buchwald Capital Advisors LLC
     380 Lexington Avenue
     17th Floor
     New York, NY 10168-1799
     Tel: (212) 551-1040
     Fax: (212) 656-1578
     E-mail: lbuchwald@buchwaldcapital.com
     URL: http://www.buchwaldcapital.com

Moses & Singer can be reached at:

     Mark N. Parry, Esq.
     Moses & Singer LLP
     405 Lexington Avenue
     New York, NY 10174-1299
     Tel: (212) 554-7876
     E-mail: Mparry@mosessinger.com

                     About Greektown Casino

Based in Detroit, Michigan, Greektown Holdings, LLC, and its
affiliates -- http://www.greektowncasino.com/-- operate world-
class casino gaming facilities located in Detroit's historic
Greektown district featuring more than 75,000 square feet of
casino gaming space with more than 2,400 slot machines, over 70
tables games, a 12,500-square foot salon dedicated to high limit
gaming and the largest live poker room in the metropolitan Detroit
gaming market.

The Company and seven of its affiliates filed for Chapter 11
protection on May 29, 2008 (Bankr. E.D. Mich. Lead Case No.
08-53104).  Daniel J. Weiner, Esq., Michael E. Baum, Esq., and
Ryan D. Heilman, Esq., at Schafer and Weiner PLLC, represent the
Debtors in their restructuring efforts.  Judy B. Calton, Esq., at
Honigman Miller Schwartz and Cohn LLP, represents the Debtors as
their special counsel.  The Debtors chose Conway MacKenzie &
Dunleavy as their financial advisor, and Kurtzman Carson
Consultants LLC as claims, noticing, and balloting agent.  Clark
Hill PLC serves as counsel to the Official Committee of Unsecured
Creditors.

The Joint Plan of Reorganization for Greektown Holdings LLC and
five of its debtor affiliates proposed by certain noteholder
entities, the Official Committee of Unsecured Creditors of the
Debtors, and Deutsche Bank Trust Company Americas, as indenture
trustee, has been declared effective on June 30, 2010.  Greektown
Casino Hotel clinched its way to the June 30 finish line when it
obtained a unanimous approval from the Michigan Gaming Control
Board on June 28, 2010, of the transfer of the Company's ownership
from the Sault Ste. Marie Tribe of Chippewa Indian to new
investors.

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


GSI GROUP: Nets 80% from Rights Offering; July 23 Emergence Seen
----------------------------------------------------------------
GSI Group Inc. disclosed that the subscription period for its
rights offering expired on July 7, 2010, bringing in irrevocable
subscriptions for about 80% of the total number of shares offered.
As such, 37,756,069 shares of the reorganized Company were
subscribed for a total subscription price of $67,960,924.  The
Rights Offering was conducted pursuant to the Final Fourth
Modified Joint Chapter 11 Plan of Reorganization of the Company
and certain of its subsidiaries, as confirmed by the United States
Bankruptcy Court for the District of Delaware on May 27, 2010.
Pursuant to the Plan, the Company offered to sell to holders of
its common shares and vested rights to shares up to a maximum of
$85 million of New Common Shares upon emergence from bankruptcy at
a purchase price per share of $1.80.  Of the total New Common
Shares subscribed for in the Rights Offering, $64,889,486 were
subscribed for by payment in cash and $3,071,438 were subscribed
for by exchange of GSI Group Corporation's 11% Senior Notes due
2013 in the principal amount of $210 million.

Also pursuant to the Plan, and subject to the terms and conditions
of a Backstop Commitment Agreement, certain holders of the Senior
Notes agreed to backstop the entire Rights Offering.  Regardless
of the number of shares purchased in the Rights Offering, the
Backstop Investors agreed to purchase a minimum of $20 million of
New Common Shares by exchanging the principal amount of Senior
Notes for New Common Shares at the Price Per Share.  Because the
difference between the total amount of the shares offered and the
shares subscribed for in the Rights Offering is less than
$20 million, 11,111,111 New Common Shares for a total of the
backstop commitment amount of $20 million will be issued pursuant
to the backstop commitment.

The Rights Offering will be consummated upon the Company's
emergence from bankruptcy, which is subject to numerous closing
conditions.  The Company currently expects the emergence to occur
on or about July 23, 2010, and the New Common Shares subscribed
for in the Rights Offering and to be issued pursuant to the
backstop commitment will be issued on such date.  The Cash
Proceeds will be held in escrow and released on the Effective Date
and will, as provided in the Plan, be used to pay down the Senior
Notes.

As a result of the Rights Offering and the shares to be issued
pursuant to the backstop commitment, the Existing Holders,
including those holders who may also be noteholders, will receive
approximately 86.0 million New Common Shares or 86.1% of
Reorganized Company's post-reorganization outstanding shares
(subject to the distribution of the New Common Shares placed in
reserve pending resolution of certain litigation matters unrelated
to the Chapter 11 Cases); the holders of Senior Notes, including
the Backstop Investors, will receive approximately 13.89 million
New Common Shares or 13.9% of Reorganized Company's post-
reorganization outstanding shares; and GSI Group Corporation would
issue new debt in the form of new 12.25% Senior Secured PIK
Election Notes in the principal amount of approximately
$107.04 million pursuant to the Plan.

                          About GSI Group

GSI Group Inc. supplies precision technology to the global
medical, electronics, and industrial markets and semiconductor
systems.  GSI Group Inc.'s common shares are quoted on Pink Sheets
OTC Markets Inc. (GSIGQ).

The Company and two of its affiliates filed for Chapter 11
protection on Nov. 20, 2009 (Bankr. D. Del. Lead Case No. 09-
14110).  William R. Baldiga, Esq., at Brown Rudnick LLP,
represents the Debtors as lead counsel.  Mark Minuti, Esq., at
Saul Ewing LLP, as its local counsel.  The Debtors selected Garden
City Group Inc. as their claims and notice agent.  In their
petition, the Debtors posted $555,000,000 in total assets and
$370,000,000 in total liabilities as of Nov. 6, 2009.


GULF FREEWAY: Wants Access to 1st International's Cash Collateral
-----------------------------------------------------------------
Gulf Freeway Plaza LLC asks the U.S. Bankruptcy Court for the
Southern District of Texas for authorization to use cash
collateral.

The Debtor owed 1st International Bank approximately $6.5 million
under all of the promissory notes which were secured by
receivables, rents, and proceeds generated by Gulf Freeway Plaza
LLC's operations.

In addition, the Debtor owed a related party, Gil Ramirez Homes,
Inc., $360,000 pursuant to a secured loan.

The Debtor will use the cash collateral to operate its business,
postpetition.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtors will grant the bank postpetition liens in
its collateral and the postpetition receivables generated by its
collateral postpetition.

The Debtor adds that a status conference is set for August 5,
2010, at 10:00 a.m. regarding documents filed and any questions
regarding the collateral.

                    About Gulf Freeway Plaza LLC

Houston, Texas-based Gulf Freeway Plaza LLC, fdba La Hacienda
Business Park LLC, filed for Chapter 11 bankruptcy protection on
May 27, 2010 (Bankr. S.D. Tex. Case No. 10-34332).  John L. Green,
Esq., who has an office in Houston, Texas, assists the Company in
its restructuring effort.  The Company listed $12,700,000 in
assets and $6,180,532 in liabilities.


HEALTHCARE PROVIDERS: Organizational Meeting Set for July 23
------------------------------------------------------------
Roberta A. DeAngelis, Acting United States Trustee for Region 3,
will hold an organizational meeting on July 23, 2010, at
11:00 a.m. in the bankruptcy case of Healthcare Providers Direct,
a Delaware Corporation, and Healthcare Providers Direct, a Nevada
Corporation.  The meeting will be held at United States Trustee's
Hearing Room, Bridge View, 800-840 Cooper Street, Suite 102,
Camden, NJ 08102.

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.

Stone Harbor, New Jersey-based Healthcare Providers Direct, Inc.,
a Delaware corporation, filed for Chapter 11 bankruptcy protection
on July 9, 2010 (Bankr. D.N.J. Case No. 10-31072).  Jeffrey
Kurtzman, Esq., at Klehr Harrison Harvey Branzbug LLP, assists the
Company in its restructuring effort.  The Company listed $100,001
to $500,000 in assets and $1,000,001 to $10,000,000 in
liabilities.

The Company's affiliate, Healthcare Providers Direct, Inc., a
Nevada corporation, filed a separate Chapter 11 petition on
July 9, 2010 (Case No. 10-31077).  The Company listed $100,001 to
$500,000 in assets and $1,000,001 to $10,000,000 in liabilities.


HENRY YOUN: Case Summary & 12 Largest Unsecured Creditors
---------------------------------------------------------
Joint Debtors: Henry H. Youn
               dba Arlington Motor Inn
               Chung Im Youn
               7002 78th Ave. S.E.
               Mercer Island, WA 98040

Bankruptcy Case No.: 10-18041

Chapter 11 Petition Date: July 12, 2010

Court: United States Bankruptcy Court
       Western District of Washington (Seattle)

Judge: Samuel J. Steiner

Debtor's Counsel: James C Dudley, Esq.
                  9057 Washington Ave NW
                  P.O. Box 9
                  Silverdale, WA 98383
                  Tel: (360) 373-5476
                  E-mail: jcdudley38@hotmail.com

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

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

A list of the Joint Debtors' 12 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/wawb10-18041.pdf

The petition was signed by the Joint Debtors.


HOTELS UNION SQUARE: To Be Sold to Host Venture
-----------------------------------------------
Bloomberg News reports that The W New York Union Square will be
sold to a partnership led by Host Hotels & Resorts Inc. as part of
the settlement to bankruptcy proceedings.  The venture also
includes Istithmar World PJSC as a minority partner, according to
the statement from LEM, an affiliate of Lubert-Adler Real Estate
Funds.  Istithmar World is a unit of Dubai World, the sovereign
wealth fund that defaulted last year on debt incurred buying the
hotel in 2006.  LEM controls an entity that held junior debt on
the luxury hotel overlooking Manhattan's Union Square.  The
parties filed a joint liquidation plan today in U.S. Bankruptcy
Court in Delaware.

                        About Hotels Union

Philadelphia, Pennsylvania-based Hotels Union owns the W New York
Union Square hotel, located on Park Avenue South.  Hotels Union is
controlled by an affiliate of Lubert-Adler Real Estate Funds known
as LEM.

Hotels Union Square Mezz 1 LLC, dba Istithmar Hotels Union Square
Mezz 1 LLC, filed for Chapter 11 bankruptcy protection on
March 23, 2010 (Bankr. D. Del. Case No. 10-10971).  The company
estimated its assets and debts at $50,000,001 to $100,000,000.

Hotels Union Square Mezz 2 LLC, dba Istithmar Hotels Union Square
Mezz 2 LLC, filed for Chapter 11 bankruptcy protection on
March 25, 2010 (Bankr. D. Del. Case No. 10-11001).  The company
estimated its assets and debts at $10,000,001 to $50,000,000.

Steven M. Yoder, Esq., at Potter Anderson & Corroon LLP, assists
the Debtors in their restructuring efforts.


JERMAX INC: Files for Chapter 11 Bankruptcy Protection
------------------------------------------------------
According to AMM, Jermax Inc. has recently filed for bankruptcy
and expects to approach the court about financing this week.

Jermax's parent companies Gulf & Northern Trading Corp.,
Philadelphia Stainless Inc. and Amerinox Processing Inc. filed for
Chapter 11 bankruptcy reorganization on June 24.

Jermax primarily distributes stainless steel products.


JETBLUE AIRWAYS: Federated Investors Holds 3.8% of Shares
---------------------------------------------------------
Federated Investors, Inc., disclosed holding 11,112,395 shares or
roughly 3.8% of the common stock of JetBlue Airways Corporation
common stock as of June 30, 2010.

JetBlue Airways Corp., based in Forest Hills, New York, operates a
low-cost, point-to-point airline from a hub in New York.  JetBlue
serves 60 cities with 600 daily non-stop flights.

The Company reported $6.55 billion in total assets, $1.16 billion
in total current liabilities, $2.92 billion long-term debt and
capital lease obligations, $529 million construction obligation,
$397 million deferred taxes and others resulting to a
$1.53 billion stockholders' equity, as of Dec. 31, 2009.

                            *    *    *

According to the Troubled Company Reporter on Jan. 28, 2010,
Moody's Investors Service raised its ratings of JetBlue Airways,
Corp.; corporate family and probability of default ratings each to
Caa1 from Caa2.  Moody's also raised by one notch, its debt
ratings on the 3.75% Senior Unsecured Convertible Notes due 2035
to Caa3 from Ca, the respective Class G tranches of the Enhanced
Equipment Trust Certificates Series 2004-2 to B1 from B2, and the
Spare Parts EETC to Ba1 from Ba2, the Class B tranche of the Spare
Parts EETC to B2 from B3 and the senior unsecured industrial
revenue bonds to Caa3 from Ca.  Moody's also affirmed the SGL-3
Speculative Grade Liquidity rating and changed the outlook to
positive from stable.

The TCR reported on March 9, 2010, that Fitch Ratings affirmed the
Issuer Default Rating for JetBlue Airways at 'B-' and the senior
unsecured rating, which applies to approximately $470 million of
convertible notes, at 'CC' with a Recovery Rating of 'RR6'.  The
airline's Rating Outlook has been revised to Stable from Negative.


JOEL HARDEN: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Joel A. Harden
        430 Berwyn Baptist Road
        Berwyn, PA 19312

Bankruptcy Case No.: 10-15669

Chapter 11 Petition Date: July 12, 2010

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

Judge: Magdeline D. Coleman

Debtor's Counsel: Lee M. Herman, Esq.
                  426-428 East Baltimore Pike
                  P.O. Box 2090
                  Media, PA 19063
                  Tel: (610) 891-6500
                  E-mail: lherman@lmhlaw.com

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

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

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

The petition was signed by Mr. Harden.


JUMPING BEAN: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: The Jumping Bean, Inc.
          dba Java Jones
        631 9th Avenue
        San Diego, CA 92101

Bankruptcy Case No.: 10-12305

Chapter 11 Petition Date: July 13, 2010

Court: U.S. Bankruptcy Court
       Southern District of California (San Diego)

Debtor's Counsel: John L. Smaha, Esq.
                  Smaha Law Group, APC
                  7860 Mission Center Court, Suite 100
                  San Diego, CA 92108
                  Tel: (619) 688-1557
                  Fax: (619) 688-1558
                  E-mail: jsmaha@smaha.com

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

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

According to the schedules, the Company says that assets total
$127,414 while debts total $1,234,264.

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/casb10-12305.pdf

The petition was signed by Brett Winslow, CEO.


LAKEVIEW AT CAROLINA: Court Denies Lender's Plea for Dismissal
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas has
denied First Bank, N.A.'s motion for the dismissal of Lakeview at
Carolina Beach, LLC's Chapter 11 bankruptcy case.

First Bank is the present owner and holder of the indebtedness
represented by that certain Promissory Note as of February 3,
2006, in the original principal amount of $9,500,000, which is
secured by a Deed of Trust executed by the Debtor dated February
3, 2006.  The Deed of Trust covers certain real property which
consists of a condominium development which currently has 20
condominiums owned by the Debtor and which is subject to the liens
of First Bank.  As of May 27, 2010, the balance due and owing on
the Note was $6,547,920.64.

First Bank claimed that the Debtor's bankruptcy case was filed in
the wrong venue.  First Bank asked the Court to dismiss the case,
or, in the alternative, transfer the venue of the case to the U.S.
Bankruptcy Court for the Eastern District of North Carolina for
the convenience of the parties and in the interest of justice.

According to First Bank, the Debtor is a North Carolina limited
liability company, and is even not registered to do business in
Texas.  "Thus, it is undisputed that the Debtor's residence is
North Carolina.  Furthermore, the Debtor's principal place of
business is not located in Texas.  On information and belief, all
decisions regarding the operations of the Debtor are made by the
sister of the principal from a condominium located on the Property
(the Property Manager).  The Property Manager is Ludilla West, and
for at least the last three months, Ms. West has been paid by
Movant.  It is unclear who is actually employing Ms. West," First
Bank states.

First Bank is represented by Cox Smith Matthews Incorporated.

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: Receivers Continues Management of Property
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas has
authorized T & S Rentals, LLC, d/b/a Century 21 Sweyer Rentals,
the receiver for Lakeview at Carolina Beach, LLC, to continue the
day-to-day management and operations of the 20 residential
condominium units in the Debtor's complex in Carolina Beach, North
Carolina, including entering into new leases, collection of rents
generated from the Property, use of the Rents for payment of
expenses necessary to operate and maintain the Property, and any
other authorized actions.

Prior to the filing, the Debtor's first lien holder First Bank,
N.A., has taken control of the Debtor's rents.  Additionally,
First Bank had T & S appointed as receiver, ex parte, who has
notified the Debtor's tenants to pay rent over them, and has taken
possession of the Debtor's leases and keys to the Property.

The Debtor has made demand upon First Bank and the Receiver to
turn over the funds and property to the estate.  The Debtor
claimed that the funds are property of the estate which the Debtor
can use in its reorganization.  The leases and keys are also
property of the estate, the Debtor said.

The Court has excused the Receiver from compliance with section
543(a) and (b) of the U.S. Bankruptcy Code, which states that "a
custodian with knowledge of the commencement of a case under this
title concerning the debtor may not make any disbursement from, or
take any action in the administration of, property of the debtor,
proceeds, product, offspring, rents, or profits of such property,
or property of the estate, in the possession, custody, or control
of such custodian, except such action as is necessary to preserve
such property".

No less than twice each month, the Receiver will provide an
accurate ledger or similar accounting to the Debtor, First Bank
and their respective counsel, detailing all receipts by and all
disbursements made by the Receiver.

The Receiver, being a "custodian", will be entitled to
compensation in the amount of $3,500 per month to be paid from the
Rents.

Any security deposits actually received by the Receiver will be
held in a segregated account (the Security Deposit Account).

To the extent the Receiver collects Rents in excess of the
property expenses, the Receiver will account for the excess funds
but will not disburse the funds to First Bank or the Debtor
without further order of the Court.

Funds collected and held by the Receiver will not constitute
monthly payments otherwise required under section 362(d)(3)(B) of
the Bankruptcy Code.

The Receiver will allow Lloydella "Dee" Paczkowski to remain in
the unit where she currently resides until July 31, 2010, and Ms.
Paczkowski will not be required to pay rent for any time prior to
July 31, 2010, provided that Ms. Paczkowski will vacate the
condominium unit and turnover to the Receiver no later than
11:59 p.m., prevailing Eastern Time, on July 31, 2010, all books
and records stored on the Property and all keys, pass codes,
keycards and other security items or information relating to the
Property.

First Bank is represented by Cox Smith Matthews Incorporated.

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.


LEHMAN BROTHERS: Suit Against JPMorgan Trial Date Set For 2012
--------------------------------------------------------------
Ensuring that court battles may rage for years to come in the
Lehman Brothers Holdings Inc. bankruptcy, a judge has agreed to a
tentative April 30, 2012, trial date in the company's $8.6 billion
case against JPMorgan Chase Bank NA, according to Bankruptcy
Law360.

Law360 relates that Judge James M. Peck joked with lawyers that
his calendar is likely free on that date when he consented to the
schedule during a brief conference Wednesday.

                        About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the
fourth largest investment bank in the United States.  For more
than 150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and individuals
worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy September 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy petition
listed US$639 billion in assets and US$613 billion in debts,
effectively making the firm's bankruptcy filing the largest in
U.S. history.  Several other affiliates followed thereafter.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

On September 19, 2008, the Honorable Gerard E. Lynch, Judge of the
U.S. District Court for the Southern District of New York, entered
an order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI

The Bankruptcy Court has approved Barclays Bank Plc's purchase
of Lehman Brothers' North American investment banking and
capital markets operations and supporting infrastructure for
US$1.75 billion.  Nomura Holdings Inc., the largest brokerage
house in Japan, purchased LBHI's operations in Europe for US$2
plus the retention of most of employees.  Nomura also bought
Lehman's operations in the Asia Pacific for US$225 million.

               International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to Lehman Brothers International
(Europe) on September 15, 2008.  The joint administrators have
been appointed to wind down the business.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
Lehman Brothers Japan Inc. reported about JPY3.4 trillion
(US$33 billion) in liabilities in its petition.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other insolvency
and bankruptcy proceedings undertaken by its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


LEHMAN BROTHERS: Examiner Discharged, May Still Give Assistance
---------------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Anton R. Valukas, the
examiner who wrote a 2,209-page report about the downfall of
Lehman Brothers Holdings Inc., was officially discharged July 13.

The bankruptcy judge though, according to the report, created a
process where he can continue assisting parties in the case on
request.  Mr. Valukas can provide assistance to Lehman, the
creditors' committee, government agencies and the U.S. Trustee,
with his fees paid by Lehman.

Third parties, Mr. Rochelle relates, also can request Valukas's
assistance.  In the case of third-party requests, there must be
notice and an opportunity for other parties to object.  If there
isn't resolution, the bankruptcy court can resolve the dispute.
The examiner's fees must paid by third-parties who need his help.

                       About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the
fourth largest investment bank in the United States.  For more
than 150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and individuals
worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy September 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy petition
listed US$639 billion in assets and US$613 billion in debts,
effectively making the firm's bankruptcy filing the largest in
U.S. history.  Several other affiliates followed thereafter.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

On September 19, 2008, the Honorable Gerard E. Lynch, Judge of the
U.S. District Court for the Southern District of New York, entered
an order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI

The Bankruptcy Court has approved Barclays Bank Plc's purchase
of Lehman Brothers' North American investment banking and
capital markets operations and supporting infrastructure for
US$1.75 billion.  Nomura Holdings Inc., the largest brokerage
house in Japan, purchased LBHI's operations in Europe for US$2
plus the retention of most of employees.  Nomura also bought
Lehman's operations in the Asia Pacific for US$225 million.

               International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to Lehman Brothers International
(Europe) on September 15, 2008.  The joint administrators have
been appointed to wind down the business.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
Lehman Brothers Japan Inc. reported about JPY3.4 trillion
(US$33 billion) in liabilities in its petition.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other insolvency
and bankruptcy proceedings undertaken by its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


LEHMAN BROTHERS: Lawsuit vs. JPMorgan Set for Trial in 2012
-----------------------------------------------------------
Reuters reports that Lehman Brothers Holdings Inc's lawsuit
accusing JPMorgan Chase & Co of siphoning billions of dollars and
hastening its record bankruptcy is unlikely to be ready for trial
before April 30, 2012, under a timetable recently approved by U.S.
Bankruptcy Judge James Peck in Manhattan.

According to Reuters, at a Wednesday hearing, Lehman's lawyer John
Quinn of Quinn Emanuel Urquhart & Sullivan LLP said each company
expects to depose 50 witnesses from the opposing side.
Depositions and fact-finding may not be completed until June 30,
2011.

The May 26 lawsuit accused JPMorgan of using its "unparalleled"
knowledge of Lehman's distress, as the main "clearing" bank for
Lehman transactions with other parties, to extract $8.6 billion of
collateral in the four business days ahead of Lehman's
September 15, 2008 bankruptcy.

                       About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the
fourth largest investment bank in the United States.  For more
than 150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and individuals
worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy September 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy petition
listed US$639 billion in assets and US$613 billion in debts,
effectively making the firm's bankruptcy filing the largest in
U.S. history.  Several other affiliates followed thereafter.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

On September 19, 2008, the Honorable Gerard E. Lynch, Judge of the
U.S. District Court for the Southern District of New York, entered
an order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI

The Bankruptcy Court has approved Barclays Bank Plc's purchase
of Lehman Brothers' North American investment banking and
capital markets operations and supporting infrastructure for
US$1.75 billion.  Nomura Holdings Inc., the largest brokerage
house in Japan, purchased LBHI's operations in Europe for US$2
plus the retention of most of employees.  Nomura also bought
Lehman's operations in the Asia Pacific for US$225 million.

               International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to Lehman Brothers International
(Europe) on September 15, 2008.  The joint administrators have
been appointed to wind down the business.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
Lehman Brothers Japan Inc. reported about JPY3.4 trillion
(US$33 billion) in liabilities in its petition.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other insolvency
and bankruptcy proceedings undertaken by its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


LESLIE CONTROLS: Organizational Meeting to Form Panel on July 22
----------------------------------------------------------------
Roberta A. DeAngelis, Acting United States Trustee for Region 3,
will hold an organizational meeting on July 22, 2010, at
11:00 a.m. in the bankruptcy case of Leslie Controls, Inc.  The
meeting will be held at J. Caleb Boggs Federal Building, 844 King
Street, Room 5209, 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.

Based in Tampa, Florida, Leslie Controls is a manufacturer of
process control valves, severe service control valves, on-off
valves, regulators, steam water heaters, actuators and controls.
Leslie is a unit of CIRCOR International, Inc.

The Company filed for Chapter 11 bankruptcy protection on July 12,
2010 (Bankr. D. Del. Case No. 10-12199).  Marion M. Quirk, Esq.,
and Norman L. Pernick, Esq., at Cole, Schotz, Meisel, Forman &
Leonard, 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.


LINCOLNSHIRE CAMPUS: Official Residents' Committee Appointed
------------------------------------------------------------
Pursuant to Section 1102(a)(1) of the Bankruptcy Code, William T.
Neary, the United States Trustee for Region 6, appointed on
July 9, 2010, nine individuals to serve as members of the
Official Committee of Residents in the Chapter 11 cases of
Lincolnshire Campus, LLC, and its three debtor-affiliates:

  (1) Paul Goldstein
      820 Audubon Way, PT-210
      Lincolnshire, IL 60069
      Tel: (847) 793-0202
      E-mail: laup60@aol.com

  (2) Robert Estabrooks
      2004 Audubon Avenue, MC-429
      Naperville, IL 60563
      Tel: (630) 357-7614
      E-mail: bobesta@aol.com

  (3) Sarah Martin
      2004 Audubon Avenue, MC-129
      Naperville, IL 60563
      Tel: (630) 355-6550
      E-mail: sjmar@msn.com

  (4) Roy Larson
      2004 Audubon Avenue, BT-T03
      Naperville, IL 60563
      Tel: (630) 355-2433
      E-mail: drlarson29@att.net

  (5) Carol Hedtcke
      2004 Audubon Avenue, BT-402
      Naperville, IL 60563
      Tel: (630) 355-8663
      E-mail: cshedtcke@att.net

  (6) Sally Hering
      840 Audubon Way, HG-109
      Lincolnshire, IL 60069
      Tel: (847) 793-0575
      E-mail: salhering@aol.com

  (7) Ed Matthei
      890 Audubon Way, BW-502
      Lincolnshire, IL 60069
      Tel: (847) 793-0939
      E-mail: ematthei@sbcglobal.net

  (8) Lou Sherman
      830 Audubon Way, HG-408
      Lincolnshire, IL 60069
      Tel: (847) 821-1471
      E-mail: shirlou05@aol.com

  (9) Charles VanWiggeren
      810 Audubon Way, HP-416
      Lincolnshire, IL 60069
      Tel: (847) 478-8728
      E-mail: ctvan471@sbcglobal.net

                         About the Debtors

Lincolnshire Campus filed for Chapter 11 bankruptcy protection on
June 15, 2010 (Bankr. N.D. Tex. Case No. 10-34176).  Vincent P.
Slusher, Esq., at DLA Piper LLP US, assists the Company in its
restructuring effort.  The Company estimated its assets and debts
at $100,000,001 to $500,000,000.

Not-for-Profit Entities Sedgebrook, Inc. and Monarch Landing Inc.
also filed for Chapter 11 on June 15, 2010.

The Lincolnshire Debtors and the NFP Debtors are affiliates of
Erickson Retirement Communities LLC.

Baltimore, Maryland-based Erickson Retirement Communities LLC,
along with affiliates, filed for Chapter 11 on Oct. 19, 2009
(Bankr. N.D. Tex. Case No. 09-37010).  DLA Piper LLP (US) serves
as counsel to the Debtors.  BMC Group Inc. serves as claims and
notice agent.  Houlihan, Lokey, Howard & Zoukin, Inc., is also
serving as investment and financial consultant.  Alvarez & Marsal
is serving as restructuring adviser.   Judge Stacey G.C. Jernigan
confirmed Erickson's Plan of Reorganization on April 16, 2010.
The confirmed Chapter 11 Plan is premised on the $365 million sale
of substantially all of the Erickson Retirement assets to Redwood
Capital Investments LLC and its affiliates.  The Plan became
effective on April 30, 2010.

Erickson own 20 continuing care retirement communities in 11
states. Among Erickson's 20 communities, eight are completed, 11
are open although in construction, and one is in development.
They have 23,000 residents in total.

Bankruptcy Creditors' Service, Inc., publishes Erickson Retirement
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Erickson Retirement Communities LLC and Lincolnshire Campus.
(http://bankrupt.com/newsstand/or 215/945-7000)


LINCOLNSHIRE CAMPUS: Redwood Complains of Excessive Break-up Fee
----------------------------------------------------------------
To recall, Lincolnshire Campus, LLC, and its debtor affiliates
seek permission from the U.S. Bankruptcy Court for the Northern
District of Texas to sell substantially all of their assets, free
and clear of all liens, to Senior Care Development, LLC, for
$43,270,000, subject to higher and better bids.  The Lincolnshire
Debtors and SCD executed an asset purchase agreement,
contemplating the sale of all assets of Debtors Monarch Landing,
Inc., and Sedgebrook, Inc., for $43,270,000.  The Lincolnshire
Debtors also seek permission to entitle bid protections to SCD as
the proposed stalking horse bidder, including a break-up fee of
$1,500,000, of which amount includes a expense reimbursement
component of up to $350,000.


Erickson Living Holdings, LLC, and Redwood Capital Investments,
LLC, complain that the Lincolnshire Debtors seek approval of
bidding procedures that include an excessive break-up fee that
will chill bidding and not maximize the value of the Lincolnshire
Debtors' estates.

"It is clear after the purchase of assets of Erickson Retirement
Communities, LLC, that Redwood would submit a bid for the assets
of the Lincolnshire Debtors," Kerry C. Peterson, Esq., at Miller,
Egan, Molter & Nelson LLP, in Dallas, Texas --
kerrypeterson@milleregan.com -- counsel to and Redwood tells the
Court.  She reveals that before the submission of Senior Care
Development, LLC's bid, Redwood submitted a bid consisting of a
higher purchase price, a $1 million lower break-up fee and on
substantially the same terms as the proposed stalking horse bid
for the Lincolnshire Debtors' assets.

Ms. Peterson contends that the Lincolnshire Debtors have not
stated any corresponding benefit a $1.5 million break-up fee will
have on their estates.  She adds that as evidenced by Redwood's
higher and better, the $1.5 million Break-Up Fee provides no
value to the Lincolnshire Debtors' estates.

A large break-up fee is also not necessary to attract a bidder to
make an initial offer for the Lincolnshire Debtors, Ms. Peterson
continues.  She stresses that the current proposed Break-Up Fee
is excessive -- at greater than 10% of the Cash transaction value
and about 15 times the break-up previously approved in the ERC
Debtors' Chapter 11 cases.

She adds that, among others, the assumption of the Special Tax
Bonds should not be treated as a traditional assumption of debt
for the purposes of the Break-Up Fee calculation.  The Special
Tax Bonds were established by local ordinance, secured by the
payment of special property taxes, and do not contain standard
debt financing terms, she explains.

                         About the Debtors

Lincolnshire Campus filed for Chapter 11 bankruptcy protection on
June 15, 2010 (Bankr. N.D. Tex. Case No. 10-34176).  Vincent P.
Slusher, Esq., at DLA Piper LLP US, assists the Company in its
restructuring effort.  The Company estimated its assets and debts
at $100,000,001 to $500,000,000.

Not-for-Profit Entities Sedgebrook, Inc. and Monarch Landing Inc.
also filed for Chapter 11 on June 15, 2010.

The Lincolnshire Debtors and the NFP Debtors are affiliates of
Erickson Retirement Communities LLC.

Baltimore, Maryland-based Erickson Retirement Communities LLC,
along with affiliates, filed for Chapter 11 on Oct. 19, 2009
(Bankr. N.D. Tex. Case No. 09-37010).  DLA Piper LLP (US) serves
as counsel to the Debtors.  BMC Group Inc. serves as claims and
notice agent.  Houlihan, Lokey, Howard & Zoukin, Inc., is also
serving as investment and financial consultant.  Alvarez & Marsal
is serving as restructuring adviser.   Judge Stacey G.C. Jernigan
confirmed Erickson's Plan of Reorganization on April 16, 2010.
The confirmed Chapter 11 Plan is premised on the $365 million sale
of substantially all of the Erickson Retirement assets to Redwood
Capital Investments LLC and its affiliates.  The Plan became
effective on April 30, 2010.

Erickson own 20 continuing care retirement communities in 11
states. Among Erickson's 20 communities, eight are completed, 11
are open although in construction, and one is in development.
They have 23,000 residents in total.

Bankruptcy Creditors' Service, Inc., publishes Erickson Retirement
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Erickson Retirement Communities LLC and Lincolnshire Campus.
(http://bankrupt.com/newsstand/or 215/945-7000)


LINCOLNSHIRE CAMPUS: Wants BMC Group as Claims & Balloting Agent
----------------------------------------------------------------
Lincolnshire Campus LLC and its affiliates seek the Court's
permission to employ BMC Group, Inc., as their noticing, claims
and balloting agent, nunc pro tunc to the Petition Date.

As the Lincolnshire Debtors' claims agent, BMC is expected to:

  (a) assist the Lincolnshire Debtors with the compilation,
      administration, evaluation and production of documents and
      information necessary to support a restructuring effort;
      and

  (b) at the direction of the Lincolnshire Debtors, their
      counsel, or the Clerk of Court, as applicable, and in
      accordance with any Court orders or rules in these Chapter
      11 cases:

      -- prepare and serve those notices required in these
         bankruptcy cases;

      -- receive, record, and maintain copies of all proofs of
         claim and proofs of interest filed against the
         Lincolnshire Debtors;

      -- create and maintain the official claims registers;

      -- receive and record all transfers of claims pursuant to
         Rule 3001(e) of the Federal Rules of Bankruptcy
         Procedure;

      -- maintain an up-to-date mailing list for all entities
         who have filed proofs of claim or requests for notices
         in the Lincolnshire Debtors' Chapter 11 cases;

      -- assist the Lincolnshire Debtors and counsel with the
         administrative management, reconciliation, and
         resolution of claims;

      -- print, mail, and tabulate ballots for purposes of plan
         voting;

      -- assist with the preparation and maintenance of the
         Lincolnshire Debtors' schedules of assets and
         liabilities, statements of financial affairs, and other
         master lists and databases of creditors, assets and
         liabilities;

      -- assist with the production of reports, exhibits and
         schedules of information for use by the Lincolnshire
         Debtors or their counsel, or to be delivered to the
         Court, the Clerk of Court's Office, the Office of
         the U.S. Trustee for Region 6 or third parties;

      -- provide other technical and document management
         services of a similar nature requested by the
         Lincolnshire Debtors or the Clerk of Court's office;

      -- facilitate or perform distributions; and

      -- assist the Lincolnshire Debtors with all analyses
         and/or collections of avoidance and recovery actions
         under the Bankruptcy Code.

BMC will also provide other noticing, claims processing, related
administrative services and technology support as the
Lincolnshire Debtors or the Clerk of Court may ask in accordance
with the engagement agreement with the Lincolnshire Debtors.  BMC
will provide those services on an ala carte basis, and will only
charge the Debtors for necessary or requested services.

The Lincolnshire Debtors will pay for BMC's services, according
to the firm's customary fees as set forth in a "Fee Schedule."
No Fee Schedule was attached in the Debtors' court filing,
engagement agreement and declaration.  The Lincolnshire Debtors
will also reimburse BMC for expenses incurred.

Tinamarie Feil, president and co-founder of BMC, --
tfeil@bmcgroup.com -- relates that her firm neither holds nor
represents an interest adverse to the Lincolnshire Debtors'
estates nor has it a connection to the Lincolnshire Debtors,
their creditors or their related parties with respect to any
matter for which BMC will be employed.  She maintains that BMC is
a "disinterested person" as the term is defined under Section
101(14) of the Bankruptcy Code.

                         About the Debtors

Lincolnshire Campus filed for Chapter 11 bankruptcy protection on
June 15, 2010 (Bankr. N.D. Tex. Case No. 10-34176).  Vincent P.
Slusher, Esq., at DLA Piper LLP US, assists the Company in its
restructuring effort.  The Company estimated its assets and debts
at $100,000,001 to $500,000,000.

Not-for-Profit Entities Sedgebrook, Inc. and Monarch Landing Inc.
also filed for Chapter 11 on June 15, 2010.

The Lincolnshire Debtors and the NFP Debtors are affiliates of
Erickson Retirement Communities LLC.

Baltimore, Maryland-based Erickson Retirement Communities LLC,
along with affiliates, filed for Chapter 11 on Oct. 19, 2009
(Bankr. N.D. Tex. Case No. 09-37010).  DLA Piper LLP (US) serves
as counsel to the Debtors.  BMC Group Inc. serves as claims and
notice agent.  Houlihan, Lokey, Howard & Zoukin, Inc., is also
serving as investment and financial consultant.  Alvarez & Marsal
is serving as restructuring adviser.   Judge Stacey G.C. Jernigan
confirmed Erickson's Plan of Reorganization on April 16, 2010.
The confirmed Chapter 11 Plan is premised on the $365 million sale
of substantially all of the Erickson Retirement assets to Redwood
Capital Investments LLC and its affiliates.  The Plan became
effective on April 30, 2010.

Erickson own 20 continuing care retirement communities in 11
states. Among Erickson's 20 communities, eight are completed, 11
are open although in construction, and one is in development.
They have 23,000 residents in total.

Bankruptcy Creditors' Service, Inc., publishes Erickson Retirement
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Erickson Retirement Communities LLC and Lincolnshire Campus.
(http://bankrupt.com/newsstand/or 215/945-7000)


LOCATEPLUS HOLDINGS: Appoints Slaughter as Director of Operations
-----------------------------------------------------------------
LocatePLUS Holdings Corporation disclosed the appointment of Karen
Slaughter as Director of Operations.

Karen Slaughter's background includes 20 years of management
experience, including the last 12 years in the background
screening and record research industries.  Karen has held
progressively responsible positions with two company leaders in
the background and data industries; Kroll and First Advantage
Corporation.  As both companies grew through acquisition, Karen
provided hands-on leadership regarding the successful
implementation of client migration to new operating platforms.
Karen has led projects and been recognized for her outstanding
achievements regarding the successful implementation of ISO 9001
compliance, training and development programs, off-shoring of
operations, and meaningful business metrics.

Karen is a true professional, strategic in her insights and
focused in delivering results that bring out operationally-
excellent solutions.  Additional areas of expertise include
process/data mapping, organizational/platform readiness,
policy/procedure development, and business partner relationships.

Karen earned an MBA from Belmont University in Nashville, TN and
completed her undergraduate studies at Western Kentucky
University.  In addition, she is a Six Sigma Green Belt.

"It is truly a new day at LocatePLUS.  I couldn't be more excited
to be part of the new management team.  The Board of Directors has
assembled a fresh and incredibly talented team including Ron
Lifton, CEO; Ken Kaiser, Chief Risk Officer; Brian McHugh, CFO;
and Larry Simkin, Director of Information Technology."

"The operations team is currently focused on consolidating
operations, eliminating redundant and streamlining operational
process across all operations centers.  In addition we are
increasing staff production through a combination of process
improvements and automation.  We have also started the process of
re-establishing solid relationships with our data vendors as well
as creating and implementing meaningful metrics by which to manage
the business and better serve our clients," stated Karen
Slaughter.

                         About LocatePLUS

LocatePLUS is an industry-leading provider of investigative
solutions currently used in homeland security, anti-terrorism, and
crime fighting initiatives.  The Company acquires and synthesizes
public information in a cross-referenced, searchable database
integrated in a proprietary manner that provides rapid and
efficient access via Internet and other media to comprehensive
personal and location characteristics on data subjects even when
inquiry information is partial or incomplete.

                          *     *     *

As reported in the Troubled Company Reporter on June 15, 2010,
LocatePLUS Holdings Corporation intends to seek market-maker
sponsorship for re-listing with the Over the Counter Bulletin
Board quotation service.

While the company had missed filing deadlines under previous
management, the last late filing occurred with the first quarter
of 2009 as the newly elected Board and new management mobilized to
stabilize the company and to insure accuracy in reporting.  Since
that time no filings have been late and the company is believed to
be in compliance with the requirements of the OTC Bulletin Board
quotation service.

On January 5, 2010, LocatePLUS Holdings Corporation had
successfully negotiated with a major creditor, Dutchess Private
Equities Fund, Ltd., to convert over $1,800,000 of existing
indebtedness plus a warrant to purchase 1,125,000 shares of its
Common Stock into 72,000 shares of a new Series A Preferred Stock.


LOCATEPLUS HOLDINGS: Taps Kaiser as Exec. VP & Chief Risk Officer
-----------------------------------------------------------------
LocatePLUS Holdings Corporation appointed Kenneth W. Kaiser as its
new Executive Vice President and Chief Risk Officer.

Mr. Kaiser joins LocatePLUS Holdings Corporation after a
distinguished 27 year career with the Federal Bureau of
Investigations, retiring from the position of Assistant Director.

As Assistant Director of the Inspection Division, Mr. Kaiser
ensured compliance and facilitated performance by providing
independent evaluations of all FBI divisions and programs both
domestically and internationally.  Ken directed the efforts of
over 4900 special agent resources that provided strategic,
operational, investigative and infrastructure support to all
criminal programs for the Federal Bureau of Investigation.

Some of Ken's accomplishments include:

Managed FBI operations and administration of four New England
states as the highest ranking official, Special Agent in Charge,
of the Boston Division. Responsible for strategic planning and
management of all programs including Counterterrorism,
Counterintelligence, Cyber Crimes and Criminal matters.

Served as Special Agent in Charge of the New Orleans Division with
jurisdiction over the state of Louisiana.  Strategic planning and
management for all programs, personnel and outside agency
personnel.

On scene commander responsible for the command and control of all
FBI tactical assets deployed to New Orleans in response to
Hurricane Katrina.  Designated by Department of Homeland Security
as the Senior Law Enforcement Official in charge of Crisis
management for the disaster site.

Served on the Executive Law Enforcement Planning Committee for the
Democratic National Convention.

Served as the Principal Federal Official for the 2005 NFL Super
Bowl and coordinated all security for federal entities.  Led FBI
security response during the 2002 Super Bowl in New Orleans.

Led FBI recovery response of Space Shuttle Disaster in Louisiana.

In addition to numerous awards, obtaining Top Secret/SCI
Clearance, Ken graduated with a Bachelor of Arts in
Economics/Accounting from Wheaton College, Wheaton, IL.  In
addition, Mr. Kaiser is a graduate of the National Executive
Institute, Quantico, Virginia; the Harvard Kennedy School of
Government and Scottish Police College, Edinburgh, Scotland,
Leadership in Counterterrorism and the Kellogg Executive Program,
Northwestern University, Kellogg School of Management, Leading
Strategic Change.

"I am proud to join the new management team assembled by the Board
of Directors and Ronald Lifton, our new Chief Executive Officer,
to restructure LocatePLUS Holdings Corporation.  My years of
experience in identifying, managing and mitigating risk will help
me perform the same for LocatePLUS," stated Ken Kaiser.

"My team and I have begun the process of breaking down every
aspect of all of our subsidiaries, businesses and products across
vendor relationships, provisioning, operations, IT, sales,
marketing, accounting, finance, legal, HR, and SOX compliance with
three simple goals -- identifying, managing and mitigating our
risk."

                         About LocatePLUS

LocatePLUS is an industry-leading provider of investigative
solutions currently used in homeland security, anti-terrorism, and
crime fighting initiatives.  The Company acquires and synthesizes
public information in a cross-referenced, searchable database
integrated in a proprietary manner that provides rapid and
efficient access via Internet and other media to comprehensive
personal and location characteristics on data subjects even when
inquiry information is partial or incomplete.

                          *     *     *

As reported in the Troubled Company Reporter on June 15, 2010,
LocatePLUS Holdings Corporation intends to seek market-maker
sponsorship for re-listing with the Over the Counter Bulletin
Board quotation service.

While the company had missed filing deadlines under previous
management, the last late filing occurred with the first quarter
of 2009 as the newly elected Board and new management mobilized to
stabilize the company and to insure accuracy in reporting.  Since
that time no filings have been late and the company is believed to
be in compliance with the requirements of the OTC Bulletin Board
quotation service.

On January 5, 2010, LocatePLUS Holdings Corporation had
successfully negotiated with a major creditor, Dutchess Private
Equities Fund, Ltd., to convert over $1,800,000 of existing
indebtedness plus a warrant to purchase 1,125,000 shares of its
Common Stock into 72,000 shares of a new Series A Preferred Stock.


MAJESTIC LIQUOR: Focus Management Appointed as Financial Advisor
----------------------------------------------------------------
Focus Management Group, a nationwide business restructuring firm,
has been appointed as financial advisor to Majestic Liquor Stores,
Inc., under an order entered by the United States Bankruptcy Court
for the Northern District of Texas Fort Worth.  Majestic recently
voluntarily filed for Chapter 11 bankruptcy.

Majestic Liquor Stores, Inc., is Tarrant County's oldest and
largest chain of retail beverage stores.  Founded in 1942,
Majestic operates over 45 retail locations and carries a full
inventory of fine wines, beer, spirits, cigars and accessories.
Majestic was incorporated in Texas in 1955 and has posted yearly
gross sales in excess of $150 million.  Majestic intends to emerge
from bankruptcy with a plan of reorganization that preserves
Majestic's profitable operations.

Focus Management Group is providing Majestic with advisory
services in the planning of its Chapter 11 filing and is assisting
the Company in the preparation of its Plan of Reorganization and
the internal administration of its Chapter 11 case.

Overseeing Majestic through the Chapter 11 process is Anthony
Wolf, a Managing Director of Focus Management Group.  Mr. Wolf is
a Certified Turnaround Professional with over 30 years of
leadership experience in Chapter 11 reorganizations, financial
restructurings and operational turnarounds.  Mr. Wolf is based out
of the firm's Dallas office and can be reached at (214) 295-3062
or by E-mail at a.wolf@focusmg.com

                   About Focus Management Group

Focus Management Group -- http://www.focusmg.com/-- provides
nationwide professional services in turnaround management,
insolvency proceedings, business restructuring and operational
improvement with a senior-level team of 130 professionals.
Headquartered in Tampa, FL, with offices in Atlanta, Chicago,
Cleveland, Columbus, Dallas, Los Angeles and Philadelphia, the
firm provides a full portfolio of services to distressed companies
and their stakeholders, including secured lenders and equity
sponsors.

                       About Majestic Liquor

Fort Worth, Texas-based Majestic Liquor Stores, Inc. -- dba Double
T Discount Beer & Wine No. 2, et al. -- was incorporated in 1955.
It operates Texas retail stores for the sale of liquor, beer, wine
and bar supplies.  The Company operates 46 retail stores and three
wholesale locations.

Majestic Liquor together with its affiliates filed for Chapter 11
bankruptcy protection on June 6, 2010 (Bankr. N.D. Tex. Case No.
10-43849).  J. Robert Forshey, Esq., and Jeff P. Prostok, Esq., at
Forshey & Prostok, LLP, assists the Company in its restructuring
effort.  Focus Management Group USA Inc. is the Company's
financial advisor.  The Company estimated its assets and debts at
$10,000,001 to $50,000,000.


MEG ENERGY: Moody's Reviews 'B2' Rating on Senior Secured Loan
--------------------------------------------------------------
Moody's Investors Service placed MEG Energy Corp.'s B2 Corporate
Family Rating, B2 senior first secured term loan and B2 first
secured bank revolver under review for possible upgrade.

The review for possible upgrade reflects i) the IPO now being
marketed, the proceeds of which, combined with cash on hand and
other available liquidity that are expected to provide sufficient
funds to substantially construct, drill and complete horizontal
well pairs and commission Phase 2b of the company's Christina Lake
oil sands property, a 35,000 barrels per day expansion which has a
preliminary estimated cost of $1.4 billion; and ii) the success to
date of the ramp-up of Phases 1 and 2, where production averaged
13,398 bpd during the first quarter of 2010 and 24,500 bpd during
the month of May 2010, with the Steam Oil Ratio improving from 3.1
to 2.4 over the two referenced periods.

The review will consider the success of the IPO, the ability of
MEG to substantially complete and ramp-up Phase 2B as
contemplated, and the likelihood of continued successful
operations at Phases 1 and 2.

As of March 31, 2010, MEG had cash on hand of C$853 million with
an additional C$73 million in a debt service reserve account.  MEG
also has a $185 million revolving credit facility, maturing
January 31, 2013, of which $177 million was available as of
June 30, 2010.

On Review for Possible Upgrade:

Issuer: MEG Energy Corp.

  -- Corporate Family Rating, Placed on Review for Possible
     Upgrade, currently B2

  -- Senior Secured Bank Credit Facility, Placed on Review for
     Possible Upgrade, currently a range of B2, LGD3, 49%

Outlook Actions:

Issuer: MEG Energy Corp.

  -- Outlook, Changed To Rating Under Review From Stable

MEG's ratings have been assigned by evaluating factors that
Moody's believes are relevant to the company's risk profile, such
as the company's (i) business risk and competitive position
compared with others within the industry; (ii) capital structure
and financial risk; (iii) projected performance over the near to
intermediate term; and (iv) management's track record and
tolerance for risk.  These attributes were compared against other
issuers both within and outside MEG's core industry; MEG's ratings
are believed to be comparable to those of other issuers with
similar credit risk.  The last rating action was on December 4,
2009 when MEG's existing ratings were lowered to B2 and a stable
outlook assigned.

MEG is a Calgary, Alberta based privately-held oil sands operating
and project development company.


MERUELO MADDUX: U.S. Trustee Adds 3 Members to Creditors Committee
------------------------------------------------------------------
The U.S. Trustee for Region 16 amended the Official Committee of
Unsecured Creditors in the Chapter 11 cases of Meruelo Maddux
Properties, Inc., et al., to reflect the resignation of L.P.
Carreras & Associates, Inc., and, the appointment of these
creditors to the Committee: (1) Magnusson Klemencic Associates,
Inc.; (2) D.B. Electric Co.; and (3) Fast Taco No. 3, Inc.

The Committee now consists of:

1. EDI Architecture, Inc.
   Attn: Darcy Garneau
   2800 Post Oak Blvd., No. 3800
   Houston, TX 77056
   Tel: (713) 375-2130

2. Complete Terminal Services, Inc.
   Attn: William L. Clements
   11105 Knott Ave., Suite E
   Cypress, CA 90630
   Tel: (714) 891-2265

3. GeoDesign, Inc.
   Attn: Chris Zadoorian
   2121 Town Center Place, Suite 130
   Anaheim, CA 92806
   Tel: (714) 634-3701

4. Magnusson Klemencic Associates, Inc.
   Attn: Bill Christopher
   1301 Fifth Avenue, Suite 3200
   Seattle, WA 98101
   Tel: (206) 215-8269

5. Kirman Plumbing Company
   Attn: Sam J. DeFelice
   794 Merchant Street
   Los Angeles, CA 90021
   Tel: (213) 627-5456

6. D.B. Electric Co.
   Attn: Dominic Borra
   20952 Hemmingway Street
   Canoga Park, CA 91304
   Tel: (818) 347-3117

7. Fast Taco No. 3, Inc.
   Attn: Larry E. Wasserman
   12800 Riverside Drive, Third Floor
   Studio City, CA 91607
   Tel: (818) 760-3107

                        About Meruelo Maddux

Meruelo Maddux and its affiliates filed for Chapter 11 protection
on March 26, 2009 (Bankr. C. D. Calif. Lead Case No. 09-13356).
Aaron De Leest, Esq., John J. Bingham, Jr., Esq., and John N.
Tedford, Esq., at Danning Gill Diamond & Kollitz, represent the
Debtors in their restructuring efforts.  Asa S. Hami, Esq., Tamar
Kouyoumjian, Esq., and Victor A. Sahn, Esq., at SulmeyerKupetz, A
Prof Corp, represent the official committee of unsecured creditors
as counsel.  The Debtors' financial condition as of December 31,
2008, showed $681,769,000 in assets and $342,022,000 of debts.


METRO-GOLDWYN-MAYER: Lenders Extend Waiver Until Sept. 15
---------------------------------------------------------
Kathy Shwiff at Dow Jones Newswires reports that Metro-Goldwyn-
Mayer Inc. said its lenders agreed to give the film studio until
Sept. 15 to repay interest and principal due on its bank debt.

According to Dow Jones, MGM said the lenders, which previously
extended the latest in a series of moratoriums on interest
payments until Wednesday, "took this action in support of the
company's ongoing efforts to evaluate long-term strategic
alternatives to maximize value for its stakeholders."  MGM has
been struggling to avoid bankruptcy after running up nearly $4
billion in debt.

Lions Gate Entertainment Inc. has been holding talks with MGM
about a possible merger, a person familiar with the situation has
told Dow Jones, though Lions Gate faces the threat of a proxy
fight from billionaire investor Carl Icahn.

                    About Metro-Goldwyn-Mayer

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

In May 2010, MGM's lenders agreed to let the studio skip interest
and principal payments until July 14, 2010.  MGM tried to sell
itself in March but received low bids.

MGM has hired investment bank Moelis & Company and the law firm
Skadden, Arps, Slate, Meagher & Flom.  In August 2009, it hired
the restructuring expert Stephen F. Cooper to help lead the
company.


METRO-GOLDWYN-MAYER: Lions Gate Said to Approach Creditors
----------------------------------------------------------
Ronald Grover and Michael White at Bloomberg News report that
Lions Gate Entertainment Corp., the independent film and TV
producer, has approached creditors of ailing Metro-Goldwyn-Mayer
Inc. to help shape a plan to acquire the studio.  Bloomberg,
citing two people aware of the private discussions, said that
Lions Gate Vice Chairman Michael Burns has been meeting in New
York with investors who hold some of MGM's $3.7 billion debt.

Any agreement to buy Los Angeles-based MGM, which has won another
loan reprieve from creditors, would have to be approved by Carl
Icahn, Lions Gate's largest shareholder.  He took a 10-day break
from efforts to gain control of Vancouver-based Lions Gate's board
so the company could make a case for certain acquisitions.

                    About Metro-Goldwyn-Mayer

Metro-Goldwyn-Mayer, Inc., is an independent, privately held
motion picture, television, home video, and theatrical production
and Distribution Company.  The Company owns the world's largest
library of modern films, comprising approximately 4,000 titles,
and over 10,400 episodes of television programming. MGM is co-
owner of the James Bond franchise.

An investor consortium, comprised of Providence Equity Partners,
TPG Capital, Sony Corporation of America, Comcast Corporation, DLJ
Merchant Banking Partners and Quadrangle Group, owns MGM.

MGM's lenders have inked agreements to let the studio skip
interest and principal payments.  MGM tried to sell itself in
March but received low bids.

MGM has hired investment bank Moelis & Company and the law firm
Skadden, Arps, Slate, Meagher & Flom.  In August 2009, it hired
the restructuring expert Stephen F. Cooper to help lead the
company.


NEVADA STAR: Creditors Committee Taps Lewis R. Landau as Counsel
----------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
case of Nevada Star, LLC, asks the U.S. Bankruptcy Court for the
Central District of California for permission to employ Lewis R.
Landau, Attorney at Law, as its general bankruptcy counsel.

Mr. Landau will represent the Committee in the Chapter 11
proceedings.

The Committee relates that Mr. Landau's hourly rate is $450 per
hour.

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

Mr. Landau can be reached at:

      Lewis R. Landau, Esq.
      23564 Calabasas Road, Suite 104
      Calabasas, CA 91302
      Telefax: (888)822-4340

                      About Nevada Star, LLC

Beverly Hills, California-based Nevada Star, LLC, filed for
Chapter 11 bankruptcy protection on April 26, 2010 (Bankr. C.D.
Calif. Case No. 10-26188).  Michael Jay Berger, Esq., who has an
office in Beverly Hills, California, assists the Company in its
restructuring effort.  The Company estimated it assets and debts
at $10,000,001 to $50,000,000.


NEXCEN BRANDS: Proposed Asset Sale Recommended by 2 Advisory Firms
------------------------------------------------------------------
NexCen Brands, Inc., disclosed that both of the nation's leading
independent proxy advisory firms, Glass Lewis & Co. and ISS Proxy
Advisory Services, recommend that NexCen Brands' shareholders vote
"FOR" the sale of its franchise business to an affiliate of Levine
Leichtman Capital Partners, as well as "FOR" the additional
proposals in the Company's June 11, 2010 proxy statement.  The
analyses and recommendations of ISS and Glass Lewis & Co are
relied upon by hundreds of major institutional investment firms,
mutual funds and fiduciaries.

David S. Oros, Chairman of Board of Directors of NexCen Brands,
Inc., stated, "We are extremely pleased that, in addition to ISS'
recommendation, Glass Lewis also has issued a recommendation in
favor of the items outlined in our 2010 proxy.  The support of
these highly respected firms independently validates that the
proposed sale of our business to an affiliate of LLCP represent
the most favorable option for all of our stakeholders.  As such,
we continue to urge NexCen Brands' shareholders to vote "FOR" all
four of the proposals."

In recommending that NexCen shareholders vote "FOR" the proposed
asset sale and dissolution, Glass Lewis stated:

-- The NexCen "board conducted a thorough evaluation of strategic
   alternatives that involved multiple interested parties prior to
   entering into the [asset sale] agreement."

-- "If the asset sale is not completed, it appears that
   shareholders may receive little or no value at all from any
   remaining alternatives, such as bankruptcy protection."

-- "While it is never ideal for shareholders to be forced to
   undergo a liquidation/dissolution event, in light of the
   Company's limited alternatives and the anticipated cash
   distribution to shareholders, we believe the proposed asset
   sale and dissolution are in the best interest of
   shareholders."*

Last week, ISS recommended its client vote "FOR" the asset sale
and other proposals on the agenda.  In its analysis, ISS concluded
by stating that "non-approval of the liquidation transaction would
likely result in foreclosure of NexCen's assets by its creditors
or bankruptcy, both of which would wipe out shareholder value.
Therefore, the asset sale and liquidation transaction is
preferable."*

As previously announced, under the terms of the sale agreement,
LLCP's affiliate, Global Franchise Group, LLC, will acquire the
subsidiaries of NexCen Brands that own the franchise business
assets, the Company's franchise management operations in Norcross,
Georgia, and its manufacturing facility in Atlanta, Georgia.  As
set forth in the Company's proxy statement, NexCen estimates that,
assuming that the asset sale is completed on its current terms and
the Company is dissolved, the cash proceeds ultimately available
for distribution to the holders of NexCen common stock will be
between $0.12 and $0.16 per share of common stock; however, NexCen
is unable to predict the exact amount, nature and timing of any
distributions to its shareholders.  Closing of the sale is subject
to various conditions, including approval of the shareholders of
NexCen Brands.  The transaction is expected to close promptly
following the receipt of shareholder approval.  Shareholders of
record as of the close of business on June 4, 2010 are entitled to
vote at the Company's July 29, 2010 Special Meeting of
Stockholders.

NexCen urges shareholders to follow the ISS and Glass Lewis
recommendations by voting "FOR" each of the proposals on the
Company's proxy card.  Shareholders who have questions about the
asset sale or that need assistance voting their shares should
contact the Company's proxy solicitor, Innisfree M&A Incorporated,
toll-free at (877) 456-3488.

                       About NexCen Brands

Based in New York, NexCen Brands, Inc. (PINK SHEETS: NEXC.PK) is a
strategic brand management company with a focus on franchising.
It owns a portfolio of franchise brands that includes two retail
franchise concepts: TAF(TM) and Shoebox New York(R) as well as
five quick service restaurant franchise concepts: Great American
Cookies(R), MaggieMoo's(R), Marble Slab Creamery(R),
Pretzelmaker(R) and Pretzel Time(R).  The brands are managed by
NexCen Franchise Management, Inc., a subsidiary of NexCen Brands.

At September 30, 2009, the Company had total assets of=20
$103,027,000 against total liabilities of $151,536,000, resulting
in stockholders' deficit of $48,509,000.  At September 30, 2009,
the Company's accumulated deficit was $2,732,199,000.

In its financial report on Form 10-Q for the quarter ended
September 30, 2009, the Company said its "financial condition and
liquidity raise substantial doubt about our ability to continue as
a going concern."  According to the Company, "We are highly
leveraged; we have no additional borrowing capacity under our
credit facility; and the [Credit Facility with BTMU Capital
Corporation] imposes restrictions on our ability to freely access
the capital markets.  In addition, the BTMUCC Credit Facility
imposes various restrictions on our use of cash generated by
operations."


NEXITY FIN'L: Pursues Prepackaged Chapter 11
--------------------------------------------
Nexity Financial Corporation has been working diligently over the
past 18 months on a debt restructuring and recapitalization effort
intended to return the company to its traditionally solid
financial footing.  As a part of its overall restructuring
initiative, Nexity

Financial has been working with certain of its creditors in an
effort to restructure approximately $36 million worth of existing
obligations.

While a significant majority of these creditors (representing over
88% of the outstanding debt) agreed to an out-of-court market-
based settlement, unfortunately the remaining 12% were not willing
to agree.

As a result, Nexity Financial will pursue a pre-packaged chapter
11 filing to effectuate its restructuring and recapitalization.
This filing will not have a direct impact on the day-to-day
operations or creditors of Nexity Bank, and depositors will remain
insured up to the applicable limits offered by the FDIC.

The planned chapter 11 filing is part of an overall financial
restructuring effort for Nexity Financial, Nexity Bank and their
affiliates, which includes a private placement currently being
conducted of approximately $175 million of Nexity Financial common
stock.  While the past 18 months have been difficult, it is
encouraging to be on the doorstep of a restructuring and
recapitalization that will enhance Nexity Financial's ability to
support the small to medium sized business community and its
correspondent bank customers.  The recapitalization will allow
Nexity Financial to emerge from its significant financial
difficulties and be in full compliance with the capital provisions
of the Cease and Desist Orders that have been put in place by the
Board of Governors of the Federal Reserve System, the Federal
Deposit Insurance Corporation and the State of Alabama Banking
Department.

Nexity Financial, Nexity Bank and Nexity Financial's management
team remain positive about the future of the enterprise and their
ability to provide excellent service and advice to Nexity
Financial's clients.  The planned restructuring and
recapitalization will ensure that Nexity Financial is a viable and
vibrant company well into the future.  Nexity Financial's focus
has always been and will continue to be on the small to medium
sized businesses and banks that have made our nation great.


NEXTWAVE WIRELESS: April 3 Balance Sheet Upside-Down by $277.3MM
----------------------------------------------------------------
NextWave Wireless Inc. filed its quarterly report on Form 10-Q,
reporting a net loss attributable to NextWave of $3.4 million on
$17.9 million of revenue for the three months ended April 3, 2010,
compared with a net loss attributable to NextWave of $82.2 million
on $16.9 million revenue for the three months ended March 28,
2009.

The Company's balance sheet at April 3, 2010, showed
$586.4 million in assets and $863.6 million of liabilities, for a
stockholders' deficit of $277.3 million.

The Company has an accumulated deficit of $1.2 billion at April 3,
2010.  The Company's net income from continuing operations of
$274,000 for the three months ended April 3, 2010, includes a
$38.0 million non-cash gain on extinguishment of debt resulting
from the debt modification of the Company's Third Lien
Subordinated Secured Convertible Notes due 2011 in March 2010,
which was treated as an extinguishment of debt for accounting
purposes.  Without this gain, the Company would have reported a
loss from continuing operations of $37.7 million for the three
months ended April 3, 2010.  The Company used cash from operating
activities of continuing operations of $7.3 million and
$31.7 million during the three months ended April 3, 2010. and
March 28, 2009, respectively.  The Company's total unrestricted
cash and cash equivalents held by continuing operations at
April 3, 2010, totaled $7.9 million.  The Company had a net
working capital deficit of $2.8 million at April 3, 2010.

At April 3, 2010, the Company's Senior Notes, having an aggregate
principal amount of $178.4 million will mature in July 2011, and
its Second Lien Notes, having an aggregate principal amount of
approximately $149.4 million will mature in November 2011.  In
addition, its Third Lien Notes, having an aggregate principal
amount of $548.5 million at April 3, 2010, will mature in
December 2011.  The increase in payment in-kind interest rates on
the Notes effective March 16, 2010, will increase the principal
amount of this debt upon retirement.  Its current cash reserves
and cash generated from operations will not be sufficient to meet
these payment obligations.  The Company must consummate sales of
its wireless spectrum assets yielding proceeds that are sufficient
to retire this indebtedness.  If the Company is unable to pay its
debt at maturity, the holders of its notes could proceed against
the assets pledged to secure these obligations, which include the
Company's spectrum assets and the capital stock of the Company's
material subsidiaries, which would impair the Company's ability to
continue as a going concern.  Insufficient capital to repay its
debt at maturity would significantly restrict the Company's
ability to operate and could cause it to seek relief through a
filing in the United States Bankruptcy Court.

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

               http://researcharchives.com/t/s?666d

San Diego, Calif.-based NextWave Wireless Inc. is a wireless
technology company that develops, produces and markets mobile
multimedia and consumer electronic connectivity products including
device-embedded software for mobile handsets, client-server media
platforms, media sharing software for consumer electronics and
pocket-sized mobile broadcast receivers.  The Company also manages
and maintains worldwide wireless spectrum licenses.


NICHOLAS DAGNONE: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Nicholas Dagnone
        dba Putnam Fitness & Racquet Club
        111 Old Route 6
        Carmel, NY 10512

Bankruptcy Case No.: 10-37119

Chapter 11 Petition Date: July 12, 2010

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

Judge: Cecelia G. Morris

Debtor's Counsel: Andrea B. Malin, Esq.
                  Genova & Malin, Attorneys
                  The Hampton Center
                  1136 Route 9
                  Wappingers Falls, NY 12590-4332
                  Tel: (845) 298-1600
                  Fax: (845) 298-1265
                  E-mail: genmallaw@optonline.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 the Debtor.


NORTEL NETWORKS: Avaya Not Challenging Terms of Sale
----------------------------------------------------
Avaya Inc. has clarified that it is not challenging the terms of
its sale agreement with Nortel Networks Inc. contrary to the
company's assertion.

In a court filing, Avaya's attorney, Michael Custer, Esq., at
Pepper Hamilton LLP, in Wilmington, Delaware, says that Avaya
merely seeks an explanation on how Nortel and its affiliated
debtors arrived at the higher values for "excess and obsolete
inventory in the absence of the documented mitigation plans."

Documentation supporting Nortel's mitigation plans regarding the
inventory initially identified as being excess or obsolete that
was required to be kept by the company has not been provided to
Avaya, according to Mr. Custer.

Mr. Custer said that in light of Nortel's unwillingness or
inability to substantiate its mitigation plans, Avaya made an
investigation and found out that the value attributable to the
disputed excess and obsolete inventory falls short of Nortel's
assertion by about $7.2 million.

The $7.2 million represents a downward adjustment in Nortel's
favor of about $14.9 million from the amount initially stated in
Avaya's notice that was delivered to the company on April 19,
2010, Mr. Custer elaborates.  Accordingly, Avaya served the
notice asserting that the inventory value must be further
decreased by about $25.5 million.

Of the $25.5 million amount, approximately $22.1 million of the
requisite downward adjustment was due to the lack of adequate
substantiation by Nortel with respect to the mitigation plans,
according to Mr. Custer.

Mr. Custer said that Avaya has already agreed to release from
escrow about $10.6 million representing undisputed amounts.
Avaya, however, will oppose the release of any additional
disputed escrow fund until an accounting arbitrator makes a
determination on the disputed purchase price adjustments,
according to Mr. Custer.

In a related development, Nortel Networks Corp. and its four
Canadian affiliates asked the Ontario Superior Court of Justice
to direct the release of $19,184,300 plus accumulated interest
held in escrow by Wells Fargo Bank N.A.

                       About Nortel Networks

Nortel Networks (OTC BB: NRTLQ) -- http://www.nortel.com/--
delivers communications capabilities that make the promise of
Business Made Simple a reality for the Company's customers.  The
Company's next-generation technologies, for both service provider
and enterprise networks, support multimedia and business-critical
applications.  Nortel's technologies are designed to help
eliminate the barriers to efficiency, speed and performance by
simplifying networks and connecting people to the information they
need, when they need it.

Nortel Networks Corp., Nortel Networks Inc., and other affiliated
corporations in Canada sought insolvency protection under the
Companies' Creditors Arrangement Act in the Ontario Superior Court
of Justice (Commercial List).  Ernst & Young was appointed to
serve as monitor and foreign representative of the Canadian Nortel
Group.

The Monitor sought recognition of the CCAA Proceedings in the U.S.
by filing a bankruptcy petition under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10164).  Mary Caloway,
Esq., and Peter James Duhig, Esq., at Buchanan Ingersoll & Rooney
PC, in Wilmington, Delaware, serves as the Chapter 15 petitioner's
counsel.

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions on January 14, 2009 (Bankr. D. Del. Case No. 09-10138).
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.

Certain of Nortel's European subsidiaries also made consequential
filings for creditor protection.  The Nortel Companies related in
a press release that Nortel Networks UK Limited and certain
subsidiaries of the Nortel group incorporated in the EMEA region
have each obtained an administration order from the English High
Court of Justice under the Insolvency Act 1986.  The applications
were made by the EMEA Subsidiaries under the provisions of the
European Union's Council Regulation (EC) No. 1346/2000 on
Insolvency Proceedings and on the basis that each EMEA
Subsidiary's centre of main interests is in England.  Under the
terms of the orders, representatives of Ernst & Young LLP have
been appointed as administrators of each of the EMEA Companies and
will continue to manage the EMEA Companies and operate their
businesses under the jurisdiction of the English Court and in
accordance with the applicable provisions of the Insolvency Act.

Several entities, particularly, Nortel Government Solutions
Incorporated have material operations and are not part of the
bankruptcy proceedings.

As of September 30, 2008, Nortel Networks Corp. reported
consolidated assets of US$11.6 billion and consolidated
liabilities of US$11.8 billion.  The Nortel Companies' U.S.
businesses are primarily conducted through Nortel Networks Inc.,
which is the parent of majority of the U.S. Nortel Companies.  As
of September 30, 2008, NNI had assets of about US$9 billion and
liabilities of US$3.2 billion, which do not include NNI's
guarantee of some or all of the Nortel Companies' about
US$4.2 billion of unsecured public debt.

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


NORTEL NETWORKS: Court OKs Fees for November to January
-------------------------------------------------------
Bankruptcy Judge Gross issued an order allowing the interim
payment of fees and reimbursement of expenses of 18 professionals
covering the fee period from November 2009 to January 2010.

Of the 18 professionals, 12 are retained by the Debtors while six
are retained by the Creditors Committee.

Among the Debtors' professionals are Cleary Gottlieb Stein &
Hamilton LLP, Crowell & Moring LLP, Ernst & Young LLP, Huron
Consulting Group, Jackson Lewis LLP, John Ray, Lazard Freres &
Co., Mercer (US) Inc., Morris Nichols Arsht & Tunnell LLP,
Palisades Capital Advisors LLC, Punter Southall LLC and Shearman
& Sterling LLP.

The total amount of fees and expenses allowed for the Debtors'
professionals for the period November 2009 to January 2010 is
$30,375,413.

The allowed amount includes Lazard's "minority transaction fee."
The minority transaction fee is for the services rendered by
Lazard in connection with the sale of Nortel's code division
multiple access (CDMA) business, and the sale of the company's
Enterprise Solutions business in Asia, North America, Caribbean
and Latin America.

A copy of the table summarizing the Debtors' professionals and
their corresponding approved fees and expenses for the November
2009 to January 2010 interim period is available for free at:

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

Among the Creditors' Committee's professionals are Akin Gump
Strauss Hauer & Feld LLP, Ashurst LLP, Capstone Advisory Group
LLC, Fraser Milner Casgrain LLP, Jefferies & Company Inc., and
Richards Layton & Finger P.A.

The total amount of fees and expenses allowed for the Creditors
Committee's professionals for the period November 2009 to January
2010 is $5,424,844, GBP208,675 and C$1,098,188.

A copy of the table summarizing the Creditors Committee's
professionals and their corresponding approved fees and expenses
for the November 2009 to January 2010 interim period is available
for free at http://researcharchives.com/t/s?662b

                       About Nortel Networks

Nortel Networks (OTC BB: NRTLQ) -- http://www.nortel.com/--
delivers communications capabilities that make the promise of
Business Made Simple a reality for the Company's customers.  The
Company's next-generation technologies, for both service provider
and enterprise networks, support multimedia and business-critical
applications.  Nortel's technologies are designed to help
eliminate the barriers to efficiency, speed and performance by
simplifying networks and connecting people to the information they
need, when they need it.

Nortel Networks Corp., Nortel Networks Inc., and other affiliated
corporations in Canada sought insolvency protection under the
Companies' Creditors Arrangement Act in the Ontario Superior Court
of Justice (Commercial List).  Ernst & Young was appointed to
serve as monitor and foreign representative of the Canadian Nortel
Group.

The Monitor sought recognition of the CCAA Proceedings in the U.S.
by filing a bankruptcy petition under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10164).  Mary Caloway,
Esq., and Peter James Duhig, Esq., at Buchanan Ingersoll & Rooney
PC, in Wilmington, Delaware, serves as the Chapter 15 petitioner's
counsel.

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions on January 14, 2009 (Bankr. D. Del. Case No. 09-10138).
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.

Certain of Nortel's European subsidiaries also made consequential
filings for creditor protection.  The Nortel Companies related in
a press release that Nortel Networks UK Limited and certain
subsidiaries of the Nortel group incorporated in the EMEA region
have each obtained an administration order from the English High
Court of Justice under the Insolvency Act 1986.  The applications
were made by the EMEA Subsidiaries under the provisions of the
European Union's Council Regulation (EC) No. 1346/2000 on
Insolvency Proceedings and on the basis that each EMEA
Subsidiary's centre of main interests is in England.  Under the
terms of the orders, representatives of Ernst & Young LLP have
been appointed as administrators of each of the EMEA Companies and
will continue to manage the EMEA Companies and operate their
businesses under the jurisdiction of the English Court and in
accordance with the applicable provisions of the Insolvency Act.

Several entities, particularly, Nortel Government Solutions
Incorporated have material operations and are not part of the
bankruptcy proceedings.

As of September 30, 2008, Nortel Networks Corp. reported
consolidated assets of US$11.6 billion and consolidated
liabilities of US$11.8 billion.  The Nortel Companies' U.S.
businesses are primarily conducted through Nortel Networks Inc.,
which is the parent of majority of the U.S. Nortel Companies.  As
of September 30, 2008, NNI had assets of about US$9 billion and
liabilities of US$3.2 billion, which do not include NNI's
guarantee of some or all of the Nortel Companies' about
US$4.2 billion of unsecured public debt.

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


NORTEL NETWORKS: Ernst & Young to Provide Additional Services
-------------------------------------------------------------
James Scott, Esq., a partner at Ernst & Young LLP, in Raleigh,
North Carolina, filed a supplemental affidavit, disclosing that
E&Y LLP and the Debtors agreed to a new statement of work for the
firm to provide tax compliance services in Puerto Rico.

E&Y LLP will subcontract the services of Ernst & Young Puerto
Rico LLC, another member firm of Ernst & Young Global Ltd., to
provide the services, Mr. Scott related.  E&Y LLP will collect
from the Debtors all fees and expenses payable to Ernst & Young
Puerto Rico for its services, he added.

E&Y LLP will charge the Debtors a fixed fee of $12,700,
consisting of $9,500 for work related to Nortel CALA Inc. and
$3,200 for work related to Nortel Networks Inc., according to Mr.
Scott.  He further said that the Debtors will also reimburse E&Y
LLP for its expenses.

                       About Nortel Networks

Nortel Networks (OTC BB: NRTLQ) -- http://www.nortel.com/--
delivers communications capabilities that make the promise of
Business Made Simple a reality for the Company's customers.  The
Company's next-generation technologies, for both service provider
and enterprise networks, support multimedia and business-critical
applications.  Nortel's technologies are designed to help
eliminate the barriers to efficiency, speed and performance by
simplifying networks and connecting people to the information they
need, when they need it.

Nortel Networks Corp., Nortel Networks Inc., and other affiliated
corporations in Canada sought insolvency protection under the
Companies' Creditors Arrangement Act in the Ontario Superior Court
of Justice (Commercial List).  Ernst & Young was appointed to
serve as monitor and foreign representative of the Canadian Nortel
Group.

The Monitor sought recognition of the CCAA Proceedings in the U.S.
by filing a bankruptcy petition under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10164).  Mary Caloway,
Esq., and Peter James Duhig, Esq., at Buchanan Ingersoll & Rooney
PC, in Wilmington, Delaware, serves as the Chapter 15 petitioner's
counsel.

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions on January 14, 2009 (Bankr. D. Del. Case No. 09-10138).
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.

Certain of Nortel's European subsidiaries also made consequential
filings for creditor protection.  The Nortel Companies related in
a press release that Nortel Networks UK Limited and certain
subsidiaries of the Nortel group incorporated in the EMEA region
have each obtained an administration order from the English High
Court of Justice under the Insolvency Act 1986.  The applications
were made by the EMEA Subsidiaries under the provisions of the
European Union's Council Regulation (EC) No. 1346/2000 on
Insolvency Proceedings and on the basis that each EMEA
Subsidiary's centre of main interests is in England.  Under the
terms of the orders, representatives of Ernst & Young LLP have
been appointed as administrators of each of the EMEA Companies and
will continue to manage the EMEA Companies and operate their
businesses under the jurisdiction of the English Court and in
accordance with the applicable provisions of the Insolvency Act.

Several entities, particularly, Nortel Government Solutions
Incorporated have material operations and are not part of the
bankruptcy proceedings.

As of September 30, 2008, Nortel Networks Corp. reported
consolidated assets of US$11.6 billion and consolidated
liabilities of US$11.8 billion.  The Nortel Companies' U.S.
businesses are primarily conducted through Nortel Networks Inc.,
which is the parent of majority of the U.S. Nortel Companies.  As
of September 30, 2008, NNI had assets of about US$9 billion and
liabilities of US$3.2 billion, which do not include NNI's
guarantee of some or all of the Nortel Companies' about
US$4.2 billion of unsecured public debt.

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


NORTEL NETWORKS: U.S. Trustee Opposes Retiree Benefits Termination
------------------------------------------------------------------
Nortel Networks Inc. and its affiliates received criticisms anew
after seeking Court approval to terminate their benefit plans for
retirees and employees with long-term disability.

In a statement, Kevin Callahan, attorney for Roberta DeAngelis,
U.S. Trustee for Region 3, demanded that Nortel provide evidence
at trial to support its decision to terminate the benefit plans.

"This is particularly true in this case wherein the Debtors
previously sought and were granted authority to pay well in
excess of $50 million dollars to members of their senior
management and now claim they are unable to afford $2 million
dollars per month for the cost of these plans," Mr. Callahan
said.

Mr. Callahan also demanded that Nortel file documents describing
the benefit plans and provide the affected employees with copies
of those documents.  He pointed out that Nortel made "summary
references to provisions allegedly in the plans without attaching
copies of the plans."

"The Court should not rule on the motion unless and until parties
have a reasonable opportunity to examine the documents referenced
but not included in the motion," Mr. Callahan said.

Moreover, the U.S. Trustee asked the Bankruptcy Court to issue an
order for the appointment of a committee to represent the former
employees and to adjourn the hearing on the proposed termination
to no earlier than August 31, 2010, to provide enough time for
the formation of a retirees committee.

The U.S Trustee's statement came after the Bankruptcy Court was
flooded with letters and responses from retirees and employees
with long-term disability opposing the termination of the benefit
plans.

Frankie Proctor, one of the Nortel retirees, appealed to the
Bankruptcy Court to compel Nortel to honor its contracts with the
retirees.  "We appeal to the court to rule in favor of the many
hundreds of similar retirees in our situation, who will be left
destitute and in the same situation as ourselves," Mr. Proctor
said in a June 30 letter.  "Without our pension each month, we
will be left destitute and unable to pay our mortgage and other
sundry bills."

Mr. Proctor also called for the establishment of a court-approved
trust fund to guarantee future retirement benefits.

Carol Raymond, a former Nortel employee who has been receiving
LTD and health benefits, complained over how the notification of
the proposed termination was handled, pointing out that she was
not given enough time to file a formal objection.

Ms. Raymond also questioned the absence of a committee to
represent retirees and employees with long-term disability.  "An
employee committee should be part of this inquiry before any
final ruling on the cancellation of benefits.  I stress that we,
employees were not aware of or given any warning that this
decision was coming," Ms. Raymond said in court papers.

The proposed termination of the benefit also drew flak from a
committee of Nortel's retired executives.  The group, which calls
itself the Nortel US Retirement Protection Committee, said the
benefit plans are protected under a bankruptcy law, which imposes
"procedural and substantive requirements " before those plans for
retirees and the disabled can be terminated during a bankruptcy
case.  It said Nortel did not comply with the requirements.

Nortel proposed the termination of the benefit plans in a bid to
reduce its costs as part of its restructuring.  The company
expects to save as much as $8 million for the remainder of 2010
alone if the benefits plans are terminated.  The proposed
termination is supported by the Official Committee of Unsecured
Creditors.

Earlier, Nortel made an arrangement with the UnitedHealthcare
Insurance Company to provide the retirees and its current
employees who will retire before December 31, 2011, with medical
coverage options.  The company also proposed that the retirees be
permitted to file claims under its medical plan until
December 31, 2010, for medical claims incurred before August 31,
2010.

The Bankruptcy Court will consider the proposed benefit plan
termination at a August 4, 2010 hearing.

                       About Nortel Networks

Nortel Networks (OTC BB: NRTLQ) -- http://www.nortel.com/--
delivers communications capabilities that make the promise of
Business Made Simple a reality for the Company's customers.  The
Company's next-generation technologies, for both service provider
and enterprise networks, support multimedia and business-critical
applications.  Nortel's technologies are designed to help
eliminate the barriers to efficiency, speed and performance by
simplifying networks and connecting people to the information they
need, when they need it.

Nortel Networks Corp., Nortel Networks Inc., and other affiliated
corporations in Canada sought insolvency protection under the
Companies' Creditors Arrangement Act in the Ontario Superior Court
of Justice (Commercial List).  Ernst & Young was appointed to
serve as monitor and foreign representative of the Canadian Nortel
Group.

The Monitor sought recognition of the CCAA Proceedings in the U.S.
by filing a bankruptcy petition under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10164).  Mary Caloway,
Esq., and Peter James Duhig, Esq., at Buchanan Ingersoll & Rooney
PC, in Wilmington, Delaware, serves as the Chapter 15 petitioner's
counsel.

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions on January 14, 2009 (Bankr. D. Del. Case No. 09-10138).
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.

Certain of Nortel's European subsidiaries also made consequential
filings for creditor protection.  The Nortel Companies related in
a press release that Nortel Networks UK Limited and certain
subsidiaries of the Nortel group incorporated in the EMEA region
have each obtained an administration order from the English High
Court of Justice under the Insolvency Act 1986.  The applications
were made by the EMEA Subsidiaries under the provisions of the
European Union's Council Regulation (EC) No. 1346/2000 on
Insolvency Proceedings and on the basis that each EMEA
Subsidiary's centre of main interests is in England.  Under the
terms of the orders, representatives of Ernst & Young LLP have
been appointed as administrators of each of the EMEA Companies and
will continue to manage the EMEA Companies and operate their
businesses under the jurisdiction of the English Court and in
accordance with the applicable provisions of the Insolvency Act.

Several entities, particularly, Nortel Government Solutions
Incorporated have material operations and are not part of the
bankruptcy proceedings.

As of September 30, 2008, Nortel Networks Corp. reported
consolidated assets of US$11.6 billion and consolidated
liabilities of US$11.8 billion.  The Nortel Companies' U.S.
businesses are primarily conducted through Nortel Networks Inc.,
which is the parent of majority of the U.S. Nortel Companies.  As
of September 30, 2008, NNI had assets of about US$9 billion and
liabilities of US$3.2 billion, which do not include NNI's
guarantee of some or all of the Nortel Companies' about
US$4.2 billion of unsecured public debt.

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


PARAMOUNT RESOURCES: Moody's Upgrades Corp. Family Rating to 'B3'
-----------------------------------------------------------------
Moody's Investors Service upgraded Paramount Resources Ltd.'s
Corporate Family Rating to B3, and raised its senior secured notes
rating to B3.  The rating outlook is stable.

The upgrade reflects Paramount's demonstrated ability to navigate
challenging industry and capital market conditions and maintain a
base level of production through prudent capital and liquidity
management.  The company repurchased approximately US$123 million
of its U.S. dollar denominated notes in 2007 and 2008, issued C$92
million of equity in 2009, and scaled back capital spending to
maintain sufficient liquidity throughout the downturn in 2008 and
2009.

The upgrade also reflects Paramount's substantial alternate
liquidity through the value in its equity investments.  The
combined book value of Paramount's investment portfolio was
approximately C$245 million at March 31, 2010 with market value
currently significantly above book value.  While bank lenders have
a first fixed and floating charge over the assets of Paramount
(excluding approximately 12.8 million Trilogy Energy Corp.
shares), the current market value of these investments is
substantially in excess of this secured debt and represents a
solid alternative pool of liquidity to Paramount.

Paramount's operating environment, however, will remain
challenging given the company's very high F&D and operating cost
profile.  Average net daily production declined significantly over
the past 24 months -- to 10,500 boe/d in Q1, 2010 from 12,200
boe/d in Q1,2008.  Although Moody's anticipate Paramount's net
production to grow by roughly 10 percent (to ~11,500 boe/d) in
2010 relative to depressed 2009 levels, overall volume will still
lag 2007 production by more than 10 percent.  The key risk to
Paramount's production performance in the next 12 to 18 months
will be persistent weak natural gas prices due to ongoing supply-
demand imbalance and continued rapid growth in shale gas
production in North America.  Any significant production decline
would be viewed negatively for the rating.

Overall liquidity is expected to remain supportive despite the
recent acquisition of Redcliffe Exploration Inc. for C$46 million.
Prior to the acquisition, at March 31, 2010, Paramount had
approximately C$56 million of cash and C$109 million of
availability (after excluding C$16 million LCs outstanding) under
its C$125 million 364-day borrowing-base revolving credit
facility.  Internally generated cash flow and available borrowing
capacity under the revolving credit facility should cover
interest, taxes and capital expenditures over the next 12 to 15
months.

Paramount's B3 CFR is supported by the company's favorable
leverage on a debt to average daily production (~US$17,000) and
debt to proved reserves (US$10.80) basis, supportive liquidity,
and more than 50 percent management ownership.  The rating is
constrained by the company's small production (~11,500 boe/d) and
reserves base (19.2 million boe total proved) and high full-cycle
costs (US$75/boe) that have limited organic reserves replacement
and hindered meaningful production growth.

Upgrades:

Issuer: Paramount Resources LTD

  -- Probability of Default Rating, Upgraded to B3 from Caa1

  -- Corporate Family Rating, Upgraded to B3 from Caa1

  -- Senior Secured Regular Bond/Debenture, Upgraded to B3, LGD3,
     49% from Caa1, LGD4, 56%

The last rating action on Paramount was in October 2007 when
Moody's upgraded the company's senior secured notes to Caa1 from
Caa2 .

Paramount Resources Ltd. is a Calgary, Alberta based exploration
and production company that produced approximately 10,500 barrels
of oil equivalent per day (net) in the first quarter of 2010.  The
company is predominantly a natural gas producer (74% in Q1,2010)
with principal properties in Alberta, the Northwest Territories,
British Columbia, Montana, and North Dakota.


PECAN HILLS: Case Summary & 6 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Pecan Hills Subdivision, LLC.
        267 John Know Road, Suite 100
        Tallahassee, FL 32303

Bankruptcy Case No.: 10-40663

Chapter 11 Petition Date: July 13, 2010

Court: U.S. Bankruptcy Court
       Northern District of Florida (Tallahassee)

Debtor's Counsel: Robert C. Bruner, Esq.
                  215 Delta Court
                  Tallahassee, FL 32303
                  Tel: (850) 385-0342
                  Fax: (850) 385-0977
                  E-mail: RobertCBruner@hotmail.com

Estimated Assets: $0 to $50,000

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/flnb10-40663.pdf

The petition was signed by Gene Wilcox, managing member.


PETER GETZ: Case Summary & 19 Largest Unsecured Creditors
---------------------------------------------------------
Joint Debtors: Peter Mark Getz
               Jennifer Dawn Getz
               29362 Via Milagro
               Valencia, CA 91354

Bankruptcy Case No.: 10-38673

Chapter 11 Petition Date: July 13, 2010

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

Judge: Sheri Bluebond

Debtor's Counsel: Louis J. Esbin, Esq.
                  27201 Tourney Road, Suite 122
                  Valencia, CA 91355-1804
                  Tel: (661) 254-5050
                  Fax: (661) 254-5252
                  E-mail: Esbinlaw@sbcglobal.net

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

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

According to the schedules, the Debtors say that assets total
$612,374 while debts total $1,376,530.

A copy of the Joint Debtors' list of 19 largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-38673.pdf

The petition was signed by the Joint Debtors.


PARAMOUNT RESOURCES: Moody's Upgrades Corp. Family Rating to 'B3'
-----------------------------------------------------------------
Moody's Investors Service upgraded Paramount Resources Ltd.'s
Corporate Family Rating to B3, and raised its senior secured notes
rating to B3.  The rating outlook is stable.

The upgrade reflects Paramount's demonstrated ability to navigate
challenging industry and capital market conditions and maintain a
base level of production through prudent capital and liquidity
management.  The company repurchased approximately US$123 million
of its U.S. dollar denominated notes in 2007 and 2008, issued C$92
million of equity in 2009, and scaled back capital spending to
maintain sufficient liquidity throughout the downturn in 2008 and
2009.

The upgrade also reflects Paramount's substantial alternate
liquidity through the value in its equity investments.  The
combined book value of Paramount's investment portfolio was
approximately C$245 million at March 31, 2010 with market value
currently significantly above book value.  While bank lenders have
a first fixed and floating charge over the assets of Paramount
(excluding approximately 12.8 million Trilogy Energy Corp.
shares), the current market value of these investments is
substantially in excess of this secured debt and represents a
solid alternative pool of liquidity to Paramount.

Paramount's operating environment, however, will remain
challenging given the company's very high F&D and operating cost
profile.  Average net daily production declined significantly over
the past 24 months -- to 10,500 boe/d in Q1, 2010 from 12,200
boe/d in Q1,2008.  Although Moody's anticipate Paramount's net
production to grow by roughly 10 percent (to ~11,500 boe/d) in
2010 relative to depressed 2009 levels, overall volume will still
lag 2007 production by more than 10 percent.  The key risk to
Paramount's production performance in the next 12 to 18 months
will be persistent weak natural gas prices due to ongoing supply-
demand imbalance and continued rapid growth in shale gas
production in North America.  Any significant production decline
would be viewed negatively for the rating.

Overall liquidity is expected to remain supportive despite the
recent acquisition of Redcliffe Exploration Inc. for C$46 million.
Prior to the acquisition, at March 31, 2010, Paramount had
approximately C$56 million of cash and C$109 million of
availability (after excluding C$16 million LCs outstanding) under
its C$125 million 364-day borrowing-base revolving credit
facility.  Internally generated cash flow and available borrowing
capacity under the revolving credit facility should cover
interest, taxes and capital expenditures over the next 12 to 15
months.

Paramount's B3 CFR is supported by the company's favorable
leverage on a debt to average daily production (~US$17,000) and
debt to proved reserves (US$10.80) basis, supportive liquidity,
and more than 50 percent management ownership.  The rating is
constrained by the company's small production (~11,500 boe/d) and
reserves base (19.2 million boe total proved) and high full-cycle
costs (US$75/boe) that have limited organic reserves replacement
and hindered meaningful production growth.

Upgrades:

Issuer: Paramount Resources LTD

  -- Probability of Default Rating, Upgraded to B3 from Caa1

  -- Corporate Family Rating, Upgraded to B3 from Caa1

  -- Senior Secured Regular Bond/Debenture, Upgraded to B3, LGD3,
     49% from Caa1, LGD4, 56%

The last rating action on Paramount was in October 2007 when
Moody's upgraded the company's senior secured notes to Caa1 from
Caa2 .

Paramount Resources Ltd. is a Calgary, Alberta based exploration
and production company that produced approximately 10,500 barrels
of oil equivalent per day (net) in the first quarter of 2010.  The
company is predominantly a natural gas producer (74% in Q1,2010)
with principal properties in Alberta, the Northwest Territories,
British Columbia, Montana, and North Dakota.


POINT BLANK: Creditors Committee Seeks Trustee or Examiner
----------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
chapter 11 cases of Point Blank Solutions Inc. and its affiliates
asked the U.S. Bankruptcy Court for the District of Delaware to
appoint a Chapter 11 trustee, netDockets Blog reports.

Reuters reports that the Creditors Committee is asking for a
Chapter 11 trustee or an examiner.  The panel is asking for the
appointment of a neutral and independent fiduciary to oversee the
estates and manage their restructuring process.

According to netDockets, the Creditors Committee claims that a
"neutral and independent fiduciary" is necessary because "the
Debtors have placed the interests of insiders above maximizing
value of these estates" and the Creditors' Committee "has lost all
confidence in the Debtors."   The report relates that the
Committee asserts that Point Blank has been too slow to take
action toward a reorganization in the bankruptcy cases.  In
addition, it is questioning Point Blank's decision, announced last
week, to "consider strategic alternatives, including a sale
process - without even retaining an investment banker or
identifying a stalking horse bidder."

According to Reuters, Point Blank, which has also been
investigated by the Securities and Exchange Commission, is the
subject of a shareholder lawsuit, and spends about $600,000 a
month on legal fees.

                         About Point Blank

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

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

The Company's bankruptcy counsel is Pachulski Stang Ziehl & Jones
LLP.


PROLIANCE INTERNATIONAL: Cases Converted to Chapter 7
-----------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware entered an
order converting the chapter 11 cases of Proliance International,
Inc. and its affiliates to chapter 7 cases, effective on July 22,
2010, netDockets Blog reports.

According to the report, the Debtors sought the conversion.  No
objections were filed to the request.

                  About Proliance International

Based in New Haven, Connecticut, Proliance International, Inc. --
http://www.pliii.com/-- aka Godan makes automobile parts.  The
Company and its affiliates filed for Chapter 11 on July 2, 2009
(Bankr. D. Del. Lead Case No. 09-12278).  Christopher M. Samis,
Esq., and Daniel J. DeFranceschi, Esq., at Richards, Layton &
Finger PA, represent the Debtors in their restructuring efforts.
The Debtors' financial condition as of June 22, 2009, showed total
assets of $160.3 million and total debts of $133.5 million.

The sale of Proliance's North American assets to Centrum Equities
XV, LLC, was consummated under the provisions of Section 363 of
the Bankruptcy Code on August 14, 2009.


RICHWAL LLC: Case Summary & 15 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Richwal, LLC
        147 Windsor Avenue
        Bardstown, KY 40004

Bankruptcy Case No.: 10-33613

Chapter 11 Petition Date: July 12, 2010

Court: United States Bankruptcy Court
       Western District of Kentucky (Louisville)

Debtor's Counsel: Lisa Koch Bryant, Esq.
                  Foley Bryant & Holloway
                  500 West Jefferson Street, Suite 2450
                  Louisville, KY 40202
                  Tel: 569-7550
                  Fax: 561-0025
                  E-mail: courtmail@fbhlaw.net

Scheduled Assets: $2,240,072

Scheduled Debts: $3,348,893

A list of the Company's 15 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/kywb10-33613.pdf

The petition was signed by Ralph Buckley, member/manager.


RIMROD CORPORATION: Case Summary & 12 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Rimrod Corporation
        94 Breezy Point
        The Woodlands, TX 77381

Bankruptcy Case No.: 10-35908

Chapter 11 Petition Date: July 12, 2010

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

Judge: Jeff Bohm

Debtor's Counsel: George A. Canon, Esq.
                  94 Breezy Point Place
                  The Woodlands, TX 77380
                  Tel: (832) 813-0618
                  Fax: (281) 362-0713
                  E-mail: canlaw@wt.net

Estimated Assets: $0 to $50,000

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

A list of the Company's 12 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txsb10-35908.pdf

The petition was signed by Frank G. Woodside, president.


RODNEY JESSEN: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Rodney Eric Jessen
        924 Sunset Way
        Bellevue, WA 98004

Bankruptcy Case No.: 10-18052

Chapter 11 Petition Date: July 12, 2010

Court: United States Bankruptcy Court
       Western District of Washington (Seattle)

Judge: Karen A. Overstreet

Debtor's Counsel: Larry B. Feinstein, Esq.
                  Vortman & Feinstein
                  500 Union St, Suite 500
                  Seattle, WA 98101
                  Tel: (206) 223-9595
                  E-mail: feinstein2010@gmail.com

Scheduled Assets: $268,987

Scheduled Debts: $1,263,485

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

The petition was signed by Mr. Jessen.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Electro Serve LLC                      09-____    __/__/09
Plumb Serve LLC                        09-____    __/__/09
Home Service Industries, LLC           09-____    __/__/09
CDS Inc.                               10-____    __/__/10


RONNY ST. LOUIS: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Joint Debtors: Ronny R. St. Louis
               Juli M. St. Louis
               P.O. Box 1465
               Georgetown, TX 78627

Bankruptcy Case No.: 10-11933

Chapter 11 Petition Date: July 12, 2010

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

Judge: Craig A. Gargotta

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

Estimated Assets: $0 to $50,000

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

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txwb10-11933.pdf

The petition was signed by the Joint Debtors.


SABRE HOLDINGS: S&P Affirms 'B' Rating; Outlook Now Positive
------------------------------------------------------------
Standard & Poor's Ratings Services revised its rating outlook on
Southlake, Texas-based Sabre Holdings Corp. to positive from
negative.  At the same time, S&P affirmed all of its ratings on
the company, including the 'B' corporate credit rating.

"The outlook revision is based on Sabre's strengthening operating
performance," said Standard & Poor's credit analyst Andy Liu.
"The company experienced healthy revenue and EBITDA increases over
the December 2009 and March 31, 2010 quarters, year over year.
While S&P expects that growth could moderate somewhat in the June
quarter as a result of the Euro debt crisis and volcano-related
travel disruption, the growth rate should remain healthy, in S&P's
view.  Sabre is not as exposed to the European travel market as
many of its peers."

The 'B' corporate credit rating is supported by Sabre's leading
position in the travel distribution market and the free cash flow
that its fixed-cost structure permits.  The company's businesses
include global distribution systems that travel agents use,
software solutions for travel providers, and Travelocity, an
online travel agency.

Since its 2007 acquisition by Silver Lake Partners and Texas
Pacific Group, Sabre has not publicly disclosed its financial
results.  In the first quarter of 2010, revenue and EBITDA grew at
a healthy pace.  S&P currently expects that the second-quarter
growth rate could moderate somewhat due to European macroeconomic
trends and the Iceland volcanic eruption, but will remain healthy.
For the 12 months ended March 31, 2010, Sabre's lease-adjusted
EBITDA coverage of interest was moderately above 2x, and lease-
adjusted total debt to EBITDA was around 7x.  At the end of 2008,
the corresponding ratios were 1.7x and close to 9.0x,
respectively.  S&P expects that credit ratios will continue to
improve in 2010 from a combination of debt reduction and EBITDA
growth.

Sabre's operations tend to generate discretionary cash flow, which
it has used to fund share repurchases, acquisitions, capital
spending, and debt reduction in the past.  The recession
significantly reduced discretionary cash flow in 2007 and 2008.
Discretionary cash flow began to improve in the second half of
2009, and S&P believes the momentum will continue through 2010 as
higher revenue growth and lower cash restructuring expenses
translate into higher discretionary cash flow.  Capital spending
could rise slightly this year.


SALANDER-O'REILLY: Proprietor Faces State Jail Term
---------------------------------------------------
Philip Boroff at Bloomberg News reports Lawrence Salander is
scheduled to be sentenced for his multimillion-dollar fraud on
Aug. 3 -- seven years after his Upper East Side gallery was named
the world?s No. 1 by the Robb Report, a luxury chronicler.  New
York State Judge Michael Obus said he may sentence the 61-year-old
to as much as 18 years in a state prison.

William Maher, a state court judge in Peekskill, New York, said in
a telephone interview with Bloomberg that white-collar criminals
in the know prefer to do time in federal prisons.

If Salander is indeed sentenced to six to 18 years, he'd have to
serve six before being eligible for parole.

                      About Salander-O'Reilly

Established in 1976, New York-based Salander-O'Reilly Galleries
LLC -- http://www.salander.com/-- exhibited and managed fine art
from renaissance to contemporary.  On Nov. 1, 2007, three
creditors filed an involuntary chapter 7 petition against the
gallery (Bankr. S.D.N.Y. Case Number 07-13476).  The petitioners,
Carol F. Cohen of Two Swans Farm, Cavallon Family LP, and Richard
Ellenberg, disclosed total claims of more than $5 million.  Amos
Alter, Esq., at Troutman Sanders LLP and John Koegel, Esq., at The
Koegel Group LLP represent the petitioners.

On Nov. 9, 2007, the Debtor's case was converted to a chapter 11
proceeding (Bankr. S.D.N.Y. Case No. 07-30005).  Alan D. Halperin,
Esq., at Halperin Battaglia Raicht, LLP, represents the gallery.

Salander-O'Reilly Galleries was owned by Lawrence B. Salander and
his wife, Julie D. Salander, of Millbrook, New York.  The couple
also had membership interests in galleries including non-debtor
entities, Renaissance Art Investors and Salander Decorative Arts
LLC.  The couple filed for chapter 11 protection on Nov. 2, 2007
(Bankr. S.D.N.Y. Case No. 07-36735).  Douglas E. Spelfogel, Esq.,
and Richard J. Bernard, Esq. at Baker & Hostetler LLP and Susan P.
Persichilli, Esq., at Buchanan Ingersoll PC represent the Debtors
in their restructuring efforts.  When they filed for bankruptcy,
Mr. and Mrs. Salander listed assets and debts between $50 million
and $100 million.

Prior to bankruptcy, Mr. Salander resigned as Salander-O'Reilly
Galleries' manager and turned over the control to Triax Capital
Advisors LLC, an independent turnaround firm.  The U.S. Bankruptcy
Judge in Poughkeepsie, New York, converted the Chapter 11 case of
Salander and his wife to a liquidation in Chapter 7 in May 2008,
automatically bringing the appointment of a trustee.


SAVVIS INC: Moody's Assigns Corporate Family Rating at 'B1'
-----------------------------------------------------------
Moody's Investors Service assigned a B1 corporate family rating
and a B1 probability of default rating to Savvis, Inc., a US-based
provider of network neutral, global interconnection, and
colocation data center services.  Moody's also assigned B1 (LGD3,
44%) ratings to the senior secured credit facilities, consisting
of a $550 million term loan and a $75 million revolving credit
facility, being arranged for Savvis Communications Corporation, a
wholly-owned subsidiary of Savvis.  Savvis will guarantee the
senior secured credit facility obligations.  The company plans to
use the borrowings to refinance existing debt, which Moody's does
not rate, as well as for general corporate purposes.  Finally,
Moody's assigned a SGL-1 speculative grade liquidity rating for
the company, indicating very good deemed liquidity over the
forward twelve-month liquidity rating horizon.  The rating outlook
is stable.

Moody's has taken these rating actions:

Assignments:

Issuer: Savvis, Inc.

  -- Corporate Family Rating, Assigned B1
  -- Probability of Default Rating, Assigned B1
  -- Speculative Grade Liquidity Rating, Assigned SGL-1

Issuer: Savvis Communications Corporation

  -- $75 million Senior Secured Revolving Credit Facility,
     Assigned B1 (LGD3, 44%)

  -- $550 million Senior Secured Term Loan, Assigned B1 (LGD3,
     44%)

  -- Rating Outlook: Stable

Savvis' B1 Corporate Family Rating reflects the underlying
business risks associated with the data center management
industry, including intensifying competition as capacity catches
up to rising demand, the high capital intensity inherent in the
company's business plans, and the ongoing expansion which is
expected to consume cash resources in the near term.  In addition,
Moody's notes that the company derives 30% of its revenues from
network services, a business that faces the secular pressure of
declining pricing.  Mitigating these overarching risks are the
company's position as a leading global independent operator of
managed services, highly specialized data center colocation
facilities to large enterprises, as well as providing access to
its nationwide fiber optic IP network for these customers.
Moody's also recognizes the favorable near-term trends for data
center services across the world, as the still-rapidly growing
Internet usage, ongoing migration of corporate information
technology to IP standards and increasing use of these
applications are driving the rise in demand for outsourced
technology services that are catching up to the data center and
hosting capacity that was over built in the previous decade during
the dot.com bubble.  The company's very good liquidity lends
further support to the rating.

The stable outlook reflects Moody's view that Savvis will maintain
sales growth in its colocation and managed services businesses
that will outpace declines in the network business.  Moody's also
expects the company to retain a disciplined capital structure and
a rational expansion path, such that adjusted debt/EBITDA leverage
will decline to the mid- to high-3.0x range by the end of 2011.

Moody's expects Savvis will have "very good" liquidity over the
next twelve months, as proforma for the proposed credit facilities
and following the closing of the Fusepoint acquisition, Moody's
projects Savvis to have about $120 million in cash or equivalents,
with nearly full access to its $75 million revolver (net of about
$12 million in LC outstandings), to backstop its projected free
cash flow deficits that stem from plans to build out new
colocation space.  Additionally, Moody's believes that the
majority of the projected capital spending is success-based and
could be scaled down if the company's liquidity comes under
pressure.

This is the first time that Moody's has rated Savvis.

Savvis, located St. Louis, MO, is a provider of managed services,
colocation, and network services in its 28 data centers across the
world.  The company generated about $870 million in revenues for
the trailing twelve months ending March 31, 2010.


SEDGEBROOK INC: U.S. Trustee Seeks Hearing on Ombudsman
-------------------------------------------------------
Debtor Sedgebrook, Inc., operates a skilled nursing and assisted
living facility, which qualifies it as a health care business as
defined under Section 101(27) of the Bankruptcy Code, George F.
McElreath, assistant U.S. Trustee for Region 6, points out on
behalf of Region 6 U.S. Trustee William T. Neary.

Section 333 of the Bankruptcy Code provides that if a debtor is a
health care business, the court will order, not later than 30
days after the Petition Date, the appointment of an ombudsman to
monitor the quality of patient care and represent the interests
of the patients of the health care business unless the court
finds that the appointment of that ombudsman is not necessary for
the protection of patients under the specific facts of the case.

By this motion, the U.S. Trustee asks Judge Jernigan to direct
Sedgebrook to show cause why a patient care ombudsman should not
be appointed in its Chapter 11 case.

It is important, Mr. McElreath asserts, that the Debtor
demonstrate why the appointment of a patient care ombudsman is
not necessary under the facts of its Chapter 11 case for the
protection of the residents who receive healthcare services at
the Debtor's facility.

                         *     *     *

Judge Jernigan has set a hearing for August 4, 2010, to determine
the issue of whether or not a patient care ombudsman will be
appointed in Sedgebrook's Chapter 11 case.

The Lincolnshire Debtors are directed to immediately serve notice
of the Court's order via overnight courier and facsimile or e-
mail to the governmental regulatory authority, which regulates
their business.

To provide the governmental regulatory authority the ability to
readily identify the Lincolnshire Debtors' files, the
Lincolnshire Debtors are directed to furnish certain information
to the governmental regulatory authority at the time of service
of the Court's Order:

  (a) All license numbers or other regulatory identification
      numbers;

  (b) All doing business as or trade names under which the
      Lincolnshire Debtors operate; and

  (c) The location of all of the Lincolnshire Debtors' operating
      facilities, including street and P.O. Box addresses.

A courtesy copy of the Court's Order and the information will
also be sent to the Office of the Texas Attorney General.  The
Court makes clear that service on the Texas Attorney General will
not constitute service on the governmental regulatory agency
unless or until the Office of the Attorney General has filed a
formal entry of appearance on behalf of the regulatory agency.

                         About the Debtors

Lincolnshire Campus filed for Chapter 11 bankruptcy protection on
June 15, 2010 (Bankr. N.D. Tex. Case No. 10-34176).  Vincent P.
Slusher, Esq., at DLA Piper LLP US, assists the Company in its
restructuring effort.  The Company estimated its assets and debts
at $100,000,001 to $500,000,000.

Not-for-Profit Entities Sedgebrook, Inc. and Monarch Landing Inc.
also filed for Chapter 11 on June 15, 2010.

The Lincolnshire Debtors and the NFP Debtors are affiliates of
Erickson Retirement Communities LLC.

Baltimore, Maryland-based Erickson Retirement Communities LLC,
along with affiliates, filed for Chapter 11 on Oct. 19, 2009
(Bankr. N.D. Tex. Case No. 09-37010).  DLA Piper LLP (US) serves
as counsel to the Debtors.  BMC Group Inc. serves as claims and
notice agent.  Houlihan, Lokey, Howard & Zoukin, Inc., is also
serving as investment and financial consultant.  Alvarez & Marsal
is serving as restructuring adviser.   Judge Stacey G.C. Jernigan
confirmed Erickson's Plan of Reorganization on April 16, 2010.
The confirmed Chapter 11 Plan is premised on the $365 million sale
of substantially all of the Erickson Retirement assets to Redwood
Capital Investments LLC and its affiliates.  The Plan became
effective on April 30, 2010.

Erickson own 20 continuing care retirement communities in 11
states. Among Erickson's 20 communities, eight are completed, 11
are open although in construction, and one is in development.
They have 23,000 residents in total.

Bankruptcy Creditors' Service, Inc., publishes Erickson Retirement
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Erickson Retirement Communities LLC and Lincolnshire Campus.
(http://bankrupt.com/newsstand/or 215/945-7000)


SEDONA DEVELOPMENT: U.S. Trustee Unable to Form Creditors Panel
---------------------------------------------------------------
The Office of the U.S. Trustee for Region 14 notified the U.S.
Bankruptcy Court for the District of Arizona that it was unable to
appoint and official committee of unsecured creditors in the
Chapter 11 case of Sedona Development Partners.

The U.S. Trustee explained that there were insufficient
indications of willingness from the unsecured creditors to serve
in the committee.

The U.S. Trustee reserves the right to appoint a committee
if interest develop among the creditors.

Sedona Development Partners filed for Chapter 11 bankruptcy
protection on May 27, 2010 (Bankr. D. Ariz. Case No. 10-16711).
The Club At Seven Canyons filed a separate Chapter 11 petition
(Bankr. D. Ariz. Case No. 10-16714).  John J. Hebert, Esq., Philip
R. Rudd, Esq., and Wesley D. Ray, Esq., at Polsinelli Shughart PC,
serve as the Debtor's bankruptcy counsel.  Lender Specialty Trust
is represented by Joseph E. Cotterman, Esq., and Nathan W.
Blackburn, Esq., at Gallagher & Kennedy, P.A.  Sedona listed
$10,000,001 to $50,000,000 in assets and $50,000,001 to
$100,000,000 in liabilities.


SEDONA DEVELOPMENT: Files Schedules of Assets and Liabilities
-------------------------------------------------------------
Sedona Development Partners filed with the U.S. Bankruptcy Court
for the District of Arizona its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                   Unknown
  B. Personal Property           $29,171,168
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $69,558,867
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                       $52,121,127
                                 -----------      -----------
        TOTAL                     $29,171,168*   $121,679,994

*Excluding real property whose value is currently undetermined.

Sedona Development Partners filed for Chapter 11 bankruptcy
protection on May 27, 2010 (Bankr. D. Ariz. Case No. 10-16711).
The Club At Seven Canyons filed a separate Chapter 11 petition
(Bankr. D. Ariz. Case No. 10-16714).  John J. Hebert, Esq., Philip
R. Rudd, Esq., and Wesley D. Ray, Esq., at Polsinelli Shughart PC,
serve as the Debtor's bankruptcy counsel.  Lender Specialty Trust
is represented by Joseph E. Cotterman, Esq., and Nathan W.
Blackburn, Esq., at Gallagher & Kennedy, P.A.  Sedona listed
$10,000,001 to $50,000,000 in assets and $50,000,001 to
$100,000,000 in liabilities.


SEQUA CORPORATION: Moody's Affirms 'Caa1'; Outlook Now Positive
---------------------------------------------------------------
Moody's Investors Service changed Sequa Corporation's rating
outlook to positive from negative and affirmed the existing
ratings, including the Caa1 Corporate Family Rating and
Probability of Default Rating.  The change in the outlook to
positive reflects the recent revenue stabilization, improvement in
margin and operating cash flow generation following the sharp
declines of last year in all three of its business segments.
While a return to pre-decline revenue levels is not expected in
the 12 to 18 month ratings' outlook time frame, Moody's believe
that the implemented operational restructurings and cost-cutting
activities position the company for potential rating improvement
over the next year.

Sequa's Caa1 CFR was affirmed as it continues to reflect the high
leverage and weak interest coverage following the 2007 leveraged
buyout by The Carlyle Group, combined with the impact of the
subsequent economic slowdown and weak end-market demand in all of
its products segments: aerospace, automotive and pre-coat metals
(used for commercial building construction).  Moody's anticipate
increased revenue and cash flow generation going forward over the
next several quarters, absent this, with leveraged at nearly 8x
(inclusive of Moody's standard adjustments) and debt over 100% of
revenue, the leveraged capital structure could pose renewed credit
challenges as refinancing needs look beginning in 2013.

However, the rating does recognize the company's long, well-
established market position in its niche segments, most
significantly with Chromalloy Gas Turbine where it is a major
player in commercial aviation engine maintenance, repair and
overhaul.  Moreover, the rating and outlook recognize the adequate
liquidity profile supported by balance sheet cash on hand and
expected continued access to a largely undrawn revolving credit
facility and a receivables purchase facility with no near-term
debt maturities and adequate covenant cushion.

These ratings/assessments have been affirmed:

  -- Corporate Family Rating at Caa1;

  -- Probability of Default Rating at Caa1;

  -- $150 million senior secured revolver due December 2, 2013, at
     B2 (LGD2, 27%);

  -- $954 million (originally $1,200 million) senior secured term
     loan due December 3, 2014 at B2 (LGD2, 27%);

  -- $500 million 11.75% senior unsecured notes due December 1,
     2015 at Caa2 (LGD5, 81%);

  -- $258 million 13.50% (originally $211.4 million; was PIK
     through December 1, 2009) senior unsecured notes due December
     1, 2015 at Caa2 (LGD5, 81%).

The rating outlook was changed to positive from negative.

The last rating action was on October 8, 2009, when the CFR was
confirmed at Caa1 and the rating outlook was changed to negative.

Sequa Corporation, headquartered in Tampa, FL, is a diversified
industrial company operating in three business segments: aerospace
through Chromalloy Gas Turbine, automotive through ARC Automotive
and Casco Products and metal coating through Precoat Metals.


SHORES PROPERTIES: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Shores Properties, L.P.
        11512 El Camino Real, Suite 120
        San Diego, CA 92130

Bankruptcy Case No.: 10-34904

Chapter 11 Petition Date: July 12, 2010

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

Judge: Stacey G. Jernigan

Debtor's Counsel: Joyce W. Lindauer, Esq.
                  8140 Walnut Hill Lane, Suite 301
                  Dallas, TX 75231
                  Tel: (972) 503-4033
                  Fax: (972) 503-4034
                  E-mail: courts@joycelindauer.com

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

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txnb10-34904.pdf

The petition was signed by Jeff Silverstein, president.


SMITHFIELD FOODS: S&P Assigns 'B-' Rating on Senior Unsec. Debt
---------------------------------------------------------------
Standard & Poor's Ratings Services assigned its preliminary 'B-'
senior unsecured debt rating and preliminary 'CCC' subordinated
unsecured debt rating to Smithfield, Va.-based Smithfield Foods
Inc.'s (B-/Negative/--) Rule 415 shelf registration.  The new
shelf has an indeterminate aggregate initial offering amount and
number of debt securities.  The company has indicated that it will
use the net proceeds from the debt issuance for capital
expenditures and general corporate purposes.

The preliminary shelf ratings assume that additional indebtedness
at the senior secured level would not meaningfully impact the
senior unsecured debt rating.  However, if the company were to
issue additional secured debt, S&P would re-evaluate all existing
and preliminary issue-level ratings.The ratings on Smithfield
Foods Inc. reflect the continued weak operating performance in its
hog production segment, the volatility of feed costs, the
cyclicality of the swine industry, and the company's very high
debt leverage.

                           Ratings List

                       Smithfield Foods Inc.

         Corporate credit rating            B-/Negative/--

                            New Ratings

        Senior unsecured debt rating       B- (preliminary)
        Subordinate unsecured debt rating  CCC (preliminary)


SOUND WORLDWIDE: Significant Operating Loss Cue Going Concern
-------------------------------------------------------------
Sound Worldwide Holdings, Inc., filed on July 13, 2010, its annual
report on Form 10-K for the year ended March 31, 2010.

Dominic K.F. Chan & Co, in Hong Kong, 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
March 31, 2010.  The independent auditors noted that the Company
has incurred significant operating loss and has ceased operation
during the year.

"The Group's major operating subsidiary, Asian Point Investment
Limited ("APIL"), has sold out all its plant and equipment at a
loss of $1,108,946 resulting to a net financial loss of $2,370,460
during the year.  APIL has ceased operation during the year."

The Company reported a net loss of $2,370,460 on $2,280,608 of
revenue for the year ended March 31, 2010, compared with a net
loss of $380,290 on $4,227,552 of revenue for the year ended
March 31, 2009.

The Company's balance sheet at March 31, 2010, showed $1,035,646
in assets, $242,494 of liabilities, and $793,152 of stockholders'
equity.

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

               http://researcharchives.com/t/s?6680

Based in Hong Kong, China, Sound Worldwide Holdings, Inc., and its
subsidiaries are principally engaged in manufacturing and trading
of denim fabrics and garments.  The Group owns production plants
in Hong Kong and the People's Republic of China and its customers
are mainly in the United States, Europe and Japan.

The Group's business operations were conducted through its
wholly-owned subsidiary, Sound Worldwide Limited, or SWL, a
British Virgin Islands corporation, and its subsidiaries.  At the
fiscal year ended, March 31, 2010, SWL had one subsidiary, Asian
Point Investment Limited, or Asian Point.  SWL is holding company.
Asian Point Investment Limited ceased operations in 2010.


SPHERIS INC: Receives Approval of Disclosure Statement
------------------------------------------------------
Spheris Inc. has now secured court approval from Judge Kevin Gross
in Delaware of the disclosure statement for its Chapter 11
liquidation plan, according to Bankruptcy Law360.

As reported by yesterday's TCR, Spheris Inc. fine-tuned the
disclosure statement in advance of a July 13 hearing for approval
of the disclosure statement explaining the liquidating Chapter 11
plan.

The revised disclosure statement says that unsecured creditors and
holders of senior subordinated notes can expect a recovery of
almost 23%.  Bill Rochelle at Bloomberg News reports that should
Spheris fail in its effort at eliminating a $21.3 million disputed
claim asserted by MedQuist Inc., the return to creditors will be
lower, according to the disclosure statement.

According to the revised Disclosure Statement, non-priority tax
claims and other secured claims have a 100% estimate recovery.
General unsecured claims and senior subordinated note claims have
a 22.85% estimated recovery.  Subordinated claims' estimated
recovery is not available, and equity interests have a 0%
estimated recovery.

                        About Spheris Inc.

Headquartered in Franklin, Tennessee, Spheris Inc. --
http://www.spheris.com/-- is a global provider of clinical
documentation technology and services.

Spheris Inc., along with five affiliates, filed for Chapter 11 on
Feb. 3, 2010 (Bankr. D. Del. Case No. 10-10352).  Attorneys at
Young Conaway Stargatt & Taylor, LLP, and Willkie Farr & Gallagher
LLP represent the Debtors in their Chapter 11 effort.  Jefferies &
Company serve as financial advisors to the Debtors.  Attorneys at
Schulte Roth & Zabel LLP and Landis Rath & Cobb LLP serve as
counsel to the prepetition and DIP lenders.  Garden City Group
Inc. is claims and notice agent.  The petition says that assets
range from $50,000,001 to $100,000,000 while debts range from
$100,000,001 to $500,000,000.

The estate of Spheris Inc. is now formally named SP Wind Down Inc.
after it sold the business in April.  CBay Inc.'s MedQuist Inc.
purchased the domestic business of Spheris for $98.8 million.


STATION CASINOS: Can Send Plan to Creditors for Voting
------------------------------------------------------
Station Casinos, Inc., and its debtor affiliates can now send
their reorganization plan for voting after they received approval
of the explanatory disclosure statement, Bloomberg News reported

Under the Plan, Station Casinos would be broken into two parts,
both of which would be taken over and reassembled by a partnership
led by company Chairman Frank Fertitta and his brother, Vice
Chairman Lorenzo Fertitta.

According to Bloomberg, the company is negotiating with lower-
ranking creditors to win their support before voting begins in the
next few days, company attorney Thomas Kreller told Judge Zive.
"It is possible that a deal could come before solicitation
starts," Mr. Kreller said.

The creditors must vote on the plan by Aug. 20.  Judge Zive will
take that tally into consideration when he decides whether to
approve the plan at a court hearing scheduled to begin Aug. 27.

Prior to the hearing, the Debtors, on July 13, 2010, filed a
revised version of their 1st Amended joint Chapter 11 plan of
reorganization dated June 15, 2010.  The changes address certain
comments and corrections based upon the input of various
creditor constituents, as well as certain issues raised in
connection with objections to the Disclosure Statement.
A redlined copy of the Revised 1st Amended Plan is available for
free at http://bankrupt.com/misc/SCI_Revised1stAmPlanRed.pdf

A clean copy of the Revised 1st Amended Plan is available for free
at http://bankrupt.com/misc/SCI_Revised1stAmendedPlan.pdf

The Debtors also filed with the Court amended exhibits to the
Disclosure Statement accompanying the Plan to include list of
Debtors, Opco Group Sellers and a Schematic of Restructuring
Transactions.  A full-text copy of a Schematic of Restructuring
Transactions is available for free at:

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

                     About Station Casinos

Station Casinos, Inc., is a gaming and entertainment company that
currently owns and operates nine major hotel/casino properties
(one of which is 50% owned) and eight smaller casino properties
(three of which are 50% owned), in the Las Vegas metropolitan
area, as well as manages a casino for a Native American tribe.

The Company owns and operates Red Rock Casino Resort Spa, Palace
Station Hotel & Casino, Boulder Station Hotel & Casino, Santa Fe
Station Hotel & Casino, Wildfire Rancho and Wild Wild West
Gambling Hall & Hotel in Las Vegas, Nevada, Texas Station Gambling
Hall & Hotel and Fiesta Rancho Casino Hotel in North Las Vegas,
Nevada, and Sunset Station Hotel & Casino, Fiesta Henderson Casino
Hotel, Wildfire Boulder, Gold Rush Casino and Lake Mead Casino in
Henderson, Nevada.  Station also owns a 50% interest in Green
Valley Ranch Station Casino, Aliante Station Casino and Hotel,
Barley's Casino & Brewing Company, The Greens and Wildfire Lanes
in Henderson, Nevada and a 6.7% interest in the joint venture that
owns the Palms Casino Resort in Las Vegas, Nevada.  In addition,
the Company manages Thunder Valley Casino near Sacramento,
California on behalf of the United Auburn Indian Community.

Station Casinos Inc., together with its affiliates, filed for
Chapter 11 on July 28, 2009 (Bankr. D. Nev. Case No. 09-52477).
Station Casinos has hired Milbank, Tweed, Hadley & McCloy LLP as
legal counsel in the Chapter 11 case; Brownstein Hyatt Farber
Schreck, LLP, as regulatory counsel; and Lewis and Roca LLP as
local counsel.  The Debtor is also hiring Lazard Freres & Co. LLC
as investment banker and financial advisor.  Kurtzman Carson
Consultants LLC is the claims and noticing agent.

In its bankruptcy petition, Station Casinos said that it had
assets of $5,725,001,325 against debts of $6,482,637,653 as of
June 30, 2009.  About 4,378,929,997 of its liabilities constitute
unsecured or subordinated debt securities.

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


SUNWEST MANAGEMENT: District Court Confirms Reorganization Plan
---------------------------------------------------------------
U.S. District Court Judge Michael Hogan confirmed the plan of
reorganization in the Chapter 11 proceedings of Stayton SW
Assisted Living, an Oregon-based senior living provider formerly
known as Sunwest Management.  The plan provides for the sale of up
to 149 senior living facilities to a joint venture formed by
Blackstone Real Estate Advisors VI L.P., Emeritus Senior
Living and Columbia Pacific Advisors.  The Blackstone / Emeritus
joint venture will acquire the properties in exchange for cash,
securities and debt valued at $1.3 billion in cash.

The court found that the plan was feasible and that it would
maximize value for the estate's creditors and investors.  Existing
Sunwest investors are permitted to receive either cash or
securities in the new company, with a choice between Class A
preferred interests paying six percent, or up to 49 percent in
common interests in the joint venture.

"I'm very pleased," said chief restructuring officer Clyde
Hamstreet.

"Our team has been working day and night to finalize loan
modification agreements with secured lenders. They did an
outstanding job to reach the point where nearly all secured
lenders support the plan. Now, we can focus our attention on
closing the Blackstone transaction. Over the next two weeks we
will finalize the outstanding loan documents, complete
preparations for the real estate and licensing transfers, and
determine which claimants have chosen to invest in the new company
through the Sunwest rollover member. We intend to be ready for
closing by August 1."

The reorganization plan also provides for the creation of a
Trustco entity to hold certain non-senior living assets, such as
apartments, office buildings and bare land.  Receiver Michael
Grassmueck will oversee Trustco and liquidate its assets over time
for the benefit of the estate's investors and creditors.
Properties that are not sold to the Blackstone / Emeritus joint
venture or transferred into Trustco will be returned to lenders
after the effective date of the plan, which will coincide with
closing of the Blackstone transaction.

               About Stayton SW Assisted Living

Formerly known as Sunwest Management, Stayton SW Assisted Living
was founded in Oregon in 1991. One of the largest private senior
living providers in the country and a significant Oregon employer,
the company engaged Clyde Hamstreet of Hamstreet & Associates in
late November 2008 to serve as chief restructuring officer.  After
the SEC filed suit against the company, the U.S. District Court in
Eugene, Ore., entered an order on March 10, 2009, establishing a
federal receivership and appointing Michael Grassmueck of The
Grassmueck Group as receiver.

Subsequently Stayton SW Assisted Living has been reorganizing in
Chapter 11 under the supervision of the court, the receiver and
the CRO.  For more information, please visit
http://www.sunwestmanagement.com/ To learn more about Hamstreet &
Associates please visit http://www.hamstreetandassociates.com/,
and visit http://www.grassmueckgroup.com/for additional
information about The Grassmueck Group.

                    About The Blackstone Group

Blackstone is one of the world's leading investment and advisory
firms.  Its alternative asset management businesses include the
management of private equity funds, real estate funds, hedge
funds, credit-oriented funds, collateralized loan obligation
vehicles and closed-end mutual funds. The Blackstone Group also
provides various financial advisory services, including mergers
and acquisitions advisory, restructuring and reorganization
advisory, and fund placement services. Further information is
available at http://www.blackstone.com

                   About Emeritus Senior Living

Emeritus Corporation (NYSE:ESC) is a national provider of assisted
living as well as Alzheimer's and related dementia care services
to seniors. Emeritus is a publicly traded company that currently
operates 316 communities in 36 states representing capacity for
approximately 27,500 units and approximately 32,800 residents. For
more information, visit http://www.emeritus.com

                    About Sunwest Management

Founded in Oregon in 1991, Sunwest Management --
http://www.sunwestmanagement.com/-- remains one of the largest
private senior living providers in the country and is a
significant Oregon employer.  In 2008, the company engaged
Hamstreet & Associates and Alvarez & Marsal to serve as financial
advisors.  Clyde Hamstreet is founder and principal of Hamstreet &
Associates, a Portland-based, nationally recognized turnaround
firm that is leading the effort to provide quality care, preserve
value, and help Sunwest meet its obligations to creditors and
investors.  Michael Grassmueck is the founder and principal of
Grassmueck Group, a national firm that specializes in fiduciary
and insolvency services, which is based in Portland, Ore.  He has
served as a trustee in bankruptcy and as fiduciary in the state
and federal courts in thousands of cases for more than 25 years.

In March 2009, U.S. District Judge Michael Hogan appointed Michael
Grassmueck as receiver after the Securities and Exchange
Commission filed suit against Sunwest and former CEO Jon Harder,
alleging securities fraud.

The Company engaged Clyde Hamstreet as chief restructuring officer
in late November 2008 to serve as CRO, an appointment continued in
March by the U.S. District Court after the SEC lawsuit was filed.

Sunwest Management has put 10 assisted living centers -- two in
Oregon -- into Chapter 11 bankruptcy.  Briarwood Retirement and
Assisted Living Community LLC, which owns a retirement center in
Springfield, and Century Fields Retirement and Assisted Living
Community LLC, which owns a center in Lebanon, filed for Chapter
11 on Aug. 19, 2008.  On Aug. 17, 2008, eight Sunwest-affiliated
LLCs filed for Chapter 11 bankruptcy protection from creditors in
Tennessee.


SYNERGY TRANSPORT: Case Summary & 15 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Synergy Transport, Inc.
        P.O. Box 2088
        Dade City, FL 33525

Bankruptcy Case No.: 10-16651

Chapter 11 Petition Date: July 13, 2010

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

Judge: Michael G. Williamson

Debtor's Counsel: Buddy D. Ford, Esq.
                  115 N. MacDill Avenue
                  Tampa, FL 33609-1521
                  Tel: (813) 877-4669
                  Fax: (813) 877-5543
                  E-mail: Buddy@tampaesq.com

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

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

According to the schedules, the Company says that assets total
$455,045 while debts total $1,164,987.

A copy of the Company's list of 15 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/flmb10-16651.pdf

The petition was signed by Sanjiv Jain, president.


TERESA GIUDICE: Faces Ch. 7 Trustee Suit for Hiding Assets
----------------------------------------------------------
Jacqueline Palank at Dow Jones Daily Bankruptcy Review reports
that court papers show Teresa Giudice, actor in the "The Real
Housewives of New Jersey," and her husband, who filed for
bankruptcy protection last fall, are facing a lawsuit to prevent
them from taking advantage of the debt discharge available to
individuals under the Bankruptcy Code.  According to Chapter 7
trustee John Sywilok, tasked with rounding up the couple's assets
and distributing the proceeds to creditors, the Giudices allegedly
concealed key documents about their finances and business
transactions.  Mr. Sywilok also accuses the couple of making false
statements under oath about their assets, income and expenses.

According to Dow Jones, the assets the Giudices are alleged to
have concealed include interests in a pizza parlor, laundromat,
Teresa's TG Fabulicious clothing and accessories company and the
"Skinny Italian" cookbook she authored (which promises to teach
readers how to eat spaghetti and still fit into their skinny
jeans).

The Giudices' bankruptcy attorney wasn't immediately available for
comment Thursday.

Mr. Sywilok is aiming to hold a public auction on August 22 of the
contents filling the family's newly built Towaco, N.J. mansion.
Items for sale include home furnishings, accessories, tools and a
boat.


TEXAS RANGERS: Now Has Ryan Group-Led Auction on August 4
---------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Texas Rangers
Baseball Partners proposed new procedures selling its Texas
Rangers baseball team where a group led by current team President
Nolan Ryan and sports lawyer Chuck Greenberg would continue to be
the stalking horse bidder.

Under the new sale procedures approved by the Bankruptcy Court,
the Debtor will hold an auction on Aug. 4, if competing bids are
submitted by Aug. 3.  The Ryan-Greenberg originally signed
prepetition a contract to purchase the club for about $304 million
cash.  The group has now agreed to modify the original contract by
raising the price to $306.7 million. In addition, they sweetened
the offer by lowering an escrow holdback from $30 million to
$10 million and by not forcing other purchasers to take over the
lease for the team airplane.

According to the report, William K. Snyder, the chief
restructuring officer for the partnerships that own the team, told
the judge at the June 13 hearing that an auction on Aug. 4
wouldn't give other bidders enough time.  The team wanted the
auction July 22.

Bloomberg continues that the judge at first took sides with the
team on having an auction in July and then came down with the Aug.
4 date to compromise the positions by the team and the
restructuring officer.

If the Ryan-Greenberg group is outbid, they would receive a
$15 million breakup fee. In return for the fee, the stalking-horse
agreed to waive exclusivity provisions in the May contract.

Before the auction, other bidders must be approved by Major League
Baseball.

                        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.


TRIBUNE CO: Seeks to Limit LBO Debate During Plan Hearing
---------------------------------------------------------
Steven Church at Bloomberg News reports that Tribune Co. is
seeking to limit debate over the legality of its 2007 buyout when
it goes to court next month to try to win approval to exit
bankruptcy.  Lawyers for Tribune and its lenders have asked the
bankruptcy judge to keep discussion about the buyout to a minimum.
"We're trying to prevent a mess," company attorney James Conlan
said in court today.  If the confirmation hearing turns into a
trial about the buyout, then the company's reorganization
plan "doesn't work," Mr. Conlan said.

Lower-ranking creditors claim the buyout violated bankruptcy law
and are preparing to present evidence in support of their
allegations during the confirmation hearing.

The confirmation hearing on Tribune's reorganization plan is
scheduled to start Aug. 30.  The Plan built on a settlement of
the buyout claims among some lower ranking creditors, lenders,
including JPMorgan Chase & Co., and Tribune managers.

                         About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austion LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North Americal LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.

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


TRUMP ENTERTAINMENT: New Owners Plan to Sell Casino
---------------------------------------------------
Trump Entertainment Resorts Inc. is in talks to sell the Trump
Marina Hotel Casino, Beth Jinks at Bloomberg News reported, citing
a leading bondholder taking over the company.  Discussions are
under way with interested buyers, Marc Lasry, chief executive
officer of New York-based Avenue Capital Group, told the New
Jersey Casino Control Commission this week in Atlantic City.  Mr.
Lasry and Avenue Capital, which will own 22% of Trump
Entertainment once it exits bankruptcy, gained interim licensing
approval from the panel.

According to Bloomberg, Mr. Lasry, along with other bondholders
and company founder Donald J. Trump, won control of Trump
Entertainment in April when a bankruptcy judge ruled their bid was
better for creditors than a competing offer by investor Carl
Icahn.

Bloomberg relates that the licensing and plan approvals will pave
the way for Trump Entertainment's three Atlantic City casinos to
exit bankruptcy for a third time.

                     About Trump Entertainment

Based in Atlantic City, New Jersey, Trump Entertainment Resorts
Inc. (NASDAQ: TRMP) -- http://www.trumpcasinos.com/-- owns and
operates three casino hotel properties in Atlantic City, New
Jersey, which include Trump Taj Mahal Casino Resort, Trump Plaza
Hotel and Casino, and Trump Marina Hotel Casino.  The Company
conducts gaming activities and provides customers with casino
resort and entertainment.

Donald Trump is a shareholder of the Company and, as its non-
executive Chairman, is not involved in the daily operations of the
Company.  The Company is separate and distinct from Mr. Trump's
privately held real estate and other holdings.

Trump Entertainment Resorts, TCI 2 Holdings, LLC, and other
affiliates filed for Chapter 11 on February 17, 2009 (Bankr. D.
N.J., Lead Case No. 09-13654).  The Company has tapped Charles A.
Stanziale, Jr., Esq., at McCarter & English, LLP, as lead counsel,
and Weil Gotshal & Manges as co-counsel.  Ernst & Young LLP is the
Company's auditor and accountant and Lazard Freres & Co. LLC is
the financial advisor.  Garden City Group is the claims agent.
The Company disclosed assets of $2,055,555,000 and debts of
$1,737,726,000 as of December 31, 2008.

Trump Hotels & Casino Resorts, Inc., filed for Chapter 11
protection on Nov. 21, 2004 (Bankr. D. N.J. Case No. 04-46898
through 04-46925).  Trump Hotels' obtained the Court's
confirmation of its Chapter 11 plan on April 5, 2005, and in May
2005, it exited from bankruptcy under the name Trump Entertainment
Resorts Inc.


WEYERHAEUSER COMPANY: Moody's Affirms Ba1 Corporate Family Rating
-----------------------------------------------------------------
Moody's Investors Service affirmed Weyerhaeuser Company's Ba1
corporate family, Ba1 senior unsecured rating, SGL-1 liquidity
rating and revised the outlook to stable from developing.  The
action follows Monday's announcement by Weyerhaeuser that its
board of directors has declared a special dividend of $5.6 billion
in connection with the company's plan to convert to a real estate
investment trust of which $560 million will be in cash.  The
stable outlook reflects Moody's expectations that Weyerhaeuser has
the liquidity to weather the current industry conditions and that
the company's financial performance will gradually improve to
generate credit protection metrics in line with its Ba1 rating.
The company has not provided guidance on its post-REIT dividend
and Moody's assumes that Weyerhaeuser will set its dividend at a
sustainable level.

Weyerhaeuser's Ba1 corporate family rating is primarily driven by
the company's extensive timberland holdings, very strong liquidity
by way of cash, committed term bank lines and timber assets which
could be sold for additional liquidity, as well as Moody's view
that Weyerhaeuser's operating performance will continue to
improve, albeit slowly, as the US economy, particularly US housing
starts, improves over the next 2-3 years.  The company's credit
metrics are weak for the Ba1 rating, but Moody's anticipates
gradual longer term improvements as demand returns and actions
taken to reduce costs translate into improved financial
performance.

The company's SGL-1 liquidity rating indicates that Weyerhaeuser
has strong liquidity supported by over $1 billion of cash (after
the recent $548 million debt tender and pro-forma for the
$560 million REIT-related special cash dividend), an unused
committed term bank line of $1 billion and unencumbered timber
assets, which Moody's estimates are be worth approximately
$10 billion.  These liquid resources are expected to be sufficient
to fund cash short falls in the near term following implementation
of an ongoing dividend post-REIT and prior to expected further
improvements in operating performance.  Weyerhaeuser has minimal
near term debt maturities and Moody's does not expect near term
covenant compliance to be problematic.

Outlook Actions:

Issuer: MacMillan Bloedel Limited

  -- Outlook, Changed To Stable From Developing

Issuer: Weyerhaeuser Company

  -- Outlook, Changed To Stable From Developing

Issuer: Willamette Industries, Inc.

  -- Outlook, Changed To Stable From Developing

Moody's last rating action on Weyerhaeuser was on December 15,
2009, when the company's Ba1 corporate family rating was affirmed
and the company's outlook was changed to developing.

Headquartered in Federal Way, Washington, Weyerhaeuser Company is
one of the world's largest integrated forest products companies
with operations in the growing and harvesting of timber; the
manufacture, distribution and sale of forest products; and real
estate construction, development and related activities.


WHITE ENERGY: Files Third Amended Chapter 11 Plan
-------------------------------------------------
Bankruptcy Law360 reports that White Energy Inc. has filed a third
amended Chapter 11 plan of reorganization, resolving several
objections the U.S. trustee lodged over distributions and releases
regarding unsecured creditors.

Headquartered in Dallas, Texas, White Energy, Inc. --
http://www.white-energy.com/-- owns three ethanol plants.  White
Energy's plants have a combined capacity of producing 240 million
gallons of ethanol a year, making it one of the 10 largest ethanol
producers in the U.S. and the second-largest gluten maker.  Two
plants are in Texas with the third in Kansas.  White spent
$323 million building the plants in Texas.

The Company and its debtor-affiliates filed for Chapter 11 on
May 7, 2009 (Bankr. D. Del. Lead Case No. 09-11601).  Michael R.
Lastowski, Esq., at Duane Morris LLP, represents the Debtors in
their restructuring efforts.  The Debtors tapped The Garden City
Group Inc. as claims agent.  On the petition date, White Energy
disclosed assets and debts ranging from $100 million to
$500 million.


* June Bankruptcy Filings By Multi-Million Dollar Companies
-----------------------------------------------------------
For the fourth straight month, no company with more than a billion
dollar in assets filed for Chapter 11 bankruptcy.  The month of
June saw five companies with assets exceeding $100 million filing
for bankruptcy:

     -- Garlock Sealing Technologies LLC;
     -- The Newark Group;
     -- NEC Holdings Corp;
     -- Corus Bankshares, Inc.; and
     -- Lincolnshire Campus, LLC

Only one Debtor -- Garlock Sealing -- reported assets exceeding
$500 million.

Two other Debtors exceeded the $100 million mark -- British Virgin
Islands-based Fairfield Sentry Ltd., which filed for chapter 15;
and Piedmont, S.C.-based Connector 2000 Association, which filed
for Chapter 9.

The last time a billion-dollar company filed for Chapter 11
bankruptcy was in February -- with Movie Gallery; Aleris
Deutschland Holding GmbH, a unit of Aleris International; and
ESA P Portfolio TXNC GP L.L.C., an affiliate of Extended Stay Inc.

June had the least number of mega-filers, so far, this year.  This
is in stark contrast to June last year, when 18 mega-filers
commenced Chapter 11; five of which -- General Motors,
Fontainebleau Las Vegas, Crescent Resources, Six Flags and
Extended Stay -- exceeded the $1 billion mark in terms of assets.

The Newark Group is the lone prepackaged case in June.  For the
year, a total of 22 prepacks/pre-arranged cases have been filed.

                   2010 Large Chapter 11 Cases

                   $100MM   $500MM
    Month        - $500MM     $1BB   > $1BB  Prepacks  Total
    -----        --------   ------   ------  --------  -----
    January          14        2         1       8       17
    February          6        1         3       3       15
    March             9        3         -       5       12
    April             7        1         -       3        8
    May              12        -         -       2       12
    June              4        1         -       1        5

Garlock Sealing was launched into a Case Specifics Newsletter.

Of the June 2010 Chapter 11 mega-filers, only one case went to
Delaware, bring the year's total to 25.  None went to Manhattan.
So far this year, nine mega-cases were commenced in Manhattan.  In
2009, 79 mega-cases went to Delaware while 32 cases went to
Manhattan.

The top 13 filers for the year by total assets, thus far, are:

    Case                   Total Assets     Court   Petition Date
    ----                   ------------     -----   -------------
    Movie Gallery, Inc.    More than $1BB   VAEB     2-Feb
    Aleris Deutschland     More than $1BB   Del      5-Feb
      (affiliate of
      Aleris Int'l)
    Capmark Investments    More than $1BB   Del     15-Jan
      (affiliate of
       Capmark Financial)
    ESA P Portfolio        More than $1BB   Del     18-Feb
      TXNC GP L.L.C.
      (affiliates of
      Extended Stay)
    Mesa Air Group Inc.    $975,487,000     SDNY     5-Jan
    Alamtis B.V.           $500MM - $1BB    CASB    30-Apr
    Centaur, LLC           $500MM - $1BB    Del      6-Mar
    Penton Media           $500MM - $1BB    SDNY    10-Feb
    Sargent Ranch LLC      $500MM - $1BB    CASB     4-Jan
    South Bay Expressway   $500MM - $1BB    CASB    22-Mar
    Garlock Sealing        $500MM - $1BB    CASB    22-Mar
    Xerium Technologies    $693,511,000     Del     30-Mar
    Orleans Homebuilders   $591,463,000     Del      1-Mar

Lehman Brothers Holding Corp. remains the biggest corporate bust
in history.  Lehman, which filed in 2008, had $639 billion in
total assets and $613 billion in total debts at that time of its
filing.

                        JUNE 2010 MEGA CASES

(A) Garlock

Headquartered in Palmyra, NY, Garlock Sealing Technologies LLC is
a global leader in fluid-sealing products.  It is a wholly owned
subsidiary of EnPro Industries, Inc. (NYSE: NPO).  Garlock filed
for bankruptcy to address asbestos-related personal injury claims
against the company.  On June 5, Garlock filed a voluntary
petition in the U.S. Bankruptcy Court for the Western District of
North Carolina in Charlotte.  It aims to establish a trust to
resolve all current and future asbestos claims against Garlock
under Section 524(g) of the U.S. Bankruptcy Code.

Garlock has processed more than 900,000 asbestos claims to
conclusion (including judgments, settlements and dismissals) and,
together with its insurers, has paid over $1.4 billion in
settlements and judgments and over $400 million in fees and
expenses.

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

Two creditors group have been formed in the case -- one for
unsecured creditors and another for asbestos claimants.

(B) The Newark Group

With headquarters in Cranford, New Jersey, The Newark Group, Inc.
is an integrated global producer of 100% recycled paperboard and
paperboard products with significant manufacturing and marketing
operations in North America and Europe.

The Newark Group Inc. filed a Chapter 11 petition on June 9 in
Newark, New Jersey, with a prepackaged Chapter 11 plan.  In early
May, the Company solicited votes on the plan.  Holders of impaired
classes of claims and stock have voted in favor of the Plan.  The
terms of the Plan are:

   * $175 million in 9.75% unsecured subordinated notes will be
     converted into 96.5% of the new equity.  Holders of these
     notes are expected to recover 75.4%.

   * Trade suppliers and unsecured creditors owed $57 million are
     unimpaired (will be paid in full).

   * Pursuant to a settlement, Frederick G. von Zuben will
     receive partial payment for his unsecured note claim.

   * Holders of 84% of the existing stock will receive 1.5% of the
     stock of the reorganized company plus warrants to acquire an
     additional 15% of the new stock.  The new stock provided to
     existing shareholders is worth $2.4 million

   * The Company's employee stock ownership plan trust, which
     currently owns 16% of the equity will receive 2% of the new
     common stock. The ESOP will have stock worth $3.1 million.

The Debtor will seek approval of the explanatory disclosure
statement and confirmation of the Plan at a combined hearing on
July 30.

(C) NEC Holdings Corp

Uniondale, NY based National Envelope Corporation is the largest
manufacturer of envelopes in the world with 14 manufacturing
facilities and 2 distribution centers and approximately 3,500
employees in the U.S. and Canada.

National Envelope filed for Chapter 11 after failing to land a
buyer quickly enough to suit the secured lenders.  The Company
blamed its financial problems on the "global recession" and rising
postal rates that reduced mail volume.  NEC also said more
consumers are paying bills electronically.

On July 15, the TCR, citing Bill Rochelle at Bloomberg News,
reported that National Envelope has signed a contract to sell its
business for $134.5 million to Gores Group LLC, absent higher and
better offers.  Gores is also offering to pay the cost of curing
defaults in contracts and will assume accrued liabilities to
workers and on employee benefit programs.

NEC will return to the bankruptcy court on July 22 to seek
approval of bidding procedures.

NEC also has drawn interest from Cenveo Corp., which calls itself
a "major player in the envelope business."  Cenveo previously
filed papers in bankruptcy court saying it had been
"systematically excluded" from the sale process.

NEC Holdings Corp., together with affiliates, including National
Envelope Inc., filed for Chapter 11 on June 10, 2010.  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.

(D) Corus Bankshares, Inc.

Corus Bankshares Inc. filed for bankruptcy protection (Bankr. N.D.
Ill. Case No. 10-26881) on June 15, nine months after the Chicago-
based company's banking subsidiary was placed in receivership by
federal regulators.  David R. Seligman, Esq., at Kirkland & Ellis
LLP, represents the Debtor in its Chapter 11 effort.

Corus said in March that Chapter 11 or liquidation were among the
alternatives under consideration.  Corus said at the time that it
expects to have tax refund claims totaling $260 million.  Corus
promised to oppose efforts by the Federal Deposit Insurance Corp.
to receive cash for the bank subsidiary's portion of the tax
refunds.

(E) Lincolnshire Campus, LLC

Lincolnshire Campus is an affiliate of Erickson Retirement
Communities.  Erickson owns 20 continuing care retirement
communities in 11 states.  Erickson, along with affiliates, filed
for Chapter 11 on Oct. 19, 2009 (Bankr. N.D. Tex. Case No. 09-
37010).  As of September 30, 2009, on a book value basis, ERC had
approximately $2.7 billion in assets, including $2.2 billion of
property and equipment, and $3.0 billion in liabilities.

The TCR reported on July 7 that Lincolnshire Campus, LLC, and its
debtor affiliates are seeking permission from the U.S. Bankruptcy
Court for the Northern District of Texas to sell substantially all
of their assets, free and clear of all liens, to Senior Care
Development, LLC, for $43,270,000, subject to higher and better
bids.

                      Bankruptcy Statistics

Reuters' Chelsea Emery last month reported that U.S. corporate
bankruptcies have fallen by more than half this year as loosening
credit markets and an improving economy have brightened the
outlook for beleaguered companies -- and brought stress to
restructuring professionals.

In the first six months of this year, 50 publicly traded companies
filed for Chapter 11 or Chapter 7 bankruptcy in U.S. courts.
That's down from 118 a year earlier, Reuters reported, citing
BankruptcyData.com.

"There are a lot of hungry bankruptcy professionals, restructuring
firms and financial advisers," Reuters quoted Mark Jacobs, a
partner at Pryor Cashman LLP, as saying. "Everyone out there is
trolling for new business."

The lull comes as the economy picks up steam, hedge funds become
more aggressive about keeping their investments out of court, and
companies benefit from the 2009 shakeout of weaker rivals.

"We're on the backside of the implosion of 2008," when financial
markets cratered, said Mr. Jacobs. "The cases that were going to
file in the wake of the Great Recession have pretty much filed."


* Blockbuster Leads Companies Nearing Chapter 11
------------------------------------------------
Blockbuster Inc. leads a short list of large companies that may
require in-court restructuring due to debt burden and liquidity
issues.  Some of the companies have sought forbearance or waivers
from lenders due to missed payments or defaults.

Blockbuster has deferred payments due on the $630 million senior
secured notes on July 1, constituting a $23.9 million amortization
payment.  Blockbuster has entered into a forbearance agreement
that expires August 13, 2010.  Blockbuster said it is negotiating
a "balance sheet recapitalization."

Boca Raton, Fla.-based American Media Inc. deferred its May 1,
2010 interest payment on its 14% senior subordinated notes.
Standard & Poor's, which lowered its rating on American Media to
'D' from 'CCC' in June, has pointed out that the Company has "high
leverage, weak interest coverage, adverse secular trends in
newspaper and magazine publishing, thin margin of compliance with
its financial covenants, and limited liquidity."  American Media
however said early this month that it has reached an agreement
with 90% of its bondholders for them to exchange AMI's bonds for
shares of AMI common stock.  After the transaction, AMI's debt
will be reduced by $200 million and its leverage reduced from 7.2x
to 5.1x.  The Company plans on launching a debt-for-equity
exchange in July and anticipates it will be concluded in August.
Moelis & Company served as AMI's financial advisor in the
transaction.

RCLC Inc., formerly Ronson Corp., has a forbearance agreement from
Wells Fargo that expires July 16.  The agreement requires RCLC to
consummate the sale of a unit's assets to Hawthorne TTN Holdings,
LLC, or to another party.

Molecular Insight Pharmaceuticals, a clinical-stage
biopharmaceutical company, early this month received from lenders
a fourth waiver agreement that expires July 16.  The Company said
it is in discussions with bondholders over a deleveraging through
a debt for equity exchange.  The Company has warned that if its
debt obligations are accelerated or are not restructured on
acceptable terms, it may seek protection under the U.S. Bankruptcy
Code.

Network Communications Inc. elected not to make the June 1, 2010
interest payment of approximately $9.4 million on its 10-3/4
Senior Note due 2013.  The missed payment triggered an event of
default for debt totaling $296 million.  The Company is a
publisher of information for the local real estate market in North
America.  The Company has obtained a second agreement from its
secured lenders permitting it to have continued access to and use
of its cash -- until July 300 -- as it works with its stakeholders
to restructure its balance sheet.

American Safety Razor Company, LLC said it has received a
refinancing proposal from a major financial institution working in
conjunction with a large group of its second lien lenders.  The
transaction involves only the Company's U.S. and Puerto Rican
operations.  Lenders have extended covenant waiver agreements that
would allow the Company to pursue the refinancing.  The Company is
also reviewing a backup proposal from its first lien lenders
should the second lien proposal not be consummated.  American
Safety Razor, which also does business as Personna American Safety
Razor, is a leading maker of shaving razors and blades.

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.

Skilled Healthcare Group, Inc. (NYSE: SKH) on July 7 reported that
a jury in Humboldt County, California, returned a verdict against
the Company related to a complaint filed more than four years ago.
In the first phase of deliberations, the jury awarded the
plaintiffs $613 million in statutory damages and $58 million in
restitutionary damages.  The Company's primary professional
liability insurance coverage has been exhausted for the policy
year applicable to this case.  Skilled Healthcare Group, based in
Foothill Ranch, California, is a holding company with subsidiary
healthcare services companies, which in the aggregate had
consolidated annual revenues of nearly $760 million and
approximately 14,000 employees as of March 31, 2010.

Direct marketer Oriental Trading Co. Inc. has waivers and
amendments to its first-lien credit agreement expiring on August
18.  Standard & Poor's Ratings Services, which this month lowered
the corporate credit rating to 'CC' from 'CCC', said it believes
Oriental will not be able to service its existing debt and will
restructure its balance sheet.  S&P believes the Company will have
to negotiate covenant relief for fiscal 2011, secure alternative
financing, or reorganize its existing capital structure.
Standard & Poor's Ratings Services recently lowered its corporate
credit rating on direct marketer Oriental Trading Co. Inc. to 'D'
from 'CC'.  Moody's also notes that the Company's capital
structure is unsustainable in its current form, and it believes
that any refinancing of its debt will likely result in some
impairment to lenders.

Centro NP LLC has hired advisers to work on a restructuring plan.
Its parent faces over $3.2 billion of debt maturities in 2010.
Centro NP's parent, Super LLC, is highly levered and as a result,
has transferred properties to Residual JV over time, weakening
Centro NP's financial profile and the position of bondholders.
Fitch Ratings recently has affirmed the IDR of Centro NP LLC at
'CCC'.  Centro NP is a real estate company focusing on the
ownership, management and development of community and
neighborhood shopping centers with total assets of $3.3 billion at
March 31, 2010.

The New York Racing Association is facing financial insolvency in
2011 if revenues from the video lottery terminal (VLT) racino at
Aqueduct Race Track fail to materialize and expenses are not
curtailed, according to an audit released July 12 by State
Comptroller Thomas P. DiNapoli.  After emerging from bankruptcy in
2008, NYRA continued  spending more than it was taking in rather
than restructuring its operations. NYRA incurred an operating
deficit of $8.9 million in 2009 and is projecting a $19 million
deficit in 2010.  Based in Jamaica, New York, The New York Racing
Association Inc. operates racing tracks in Aqueduct, Belmont Park
and Saratoga.

Loehmann's Inc., which emerged from bankruptcy in 2010, has
recently hired three financial advisory firms with experience in
turnarounds.  The firms are AlixPartners LLP, Perella Weinberg
Partners and Clear Thinking Group LLC, according to Bloomberg
News.  Loehmann's Inc. is a discount retailer with more than 60
stores.

List of companies that may have to seek bankruptcy protection are:

                  (in millions)
Company               Assets       Trigger Event
-------               ------       -------------
Ambac Fin'l          $20,520MM  Issued Bankruptcy Warning
Blockbuster Inc.      $1,319MM  In Ch. 11 Talks with Lenders
Trico Marine          $1,010MM  In Talks for Ch. 11 Financing
Network Comms.          $362MM  Missed June 1 Interest Payment
Nord Resources           $37MM  Defaulted on Secured Notes
Liberty Star              $1MM  Defaulted on Secured Notes
Forterra Environmental     --   "No Longer Going Concern"

                 -- NEW THIS MONTH --

American Media         $900MM   Missed Payments
RCLC Inc.                  --   Forbearance Expires July 16
Molecular Insight          --   Forbearance Expires July 16
American Safety            --   In Talks for Refinancing
Oriental Trading           --   Waivers Expire Aug. 18
New York Racing Assoc.     --   Facing Insolvency in 2011
Centro NP                  --   Working on Restructuring

American Capital, with $6,757,000,000 in total assets, has escaped
the need to file Chapter 11 after it received a sufficient number
of tenders to complete its private offers to exchange outstanding
unsecured public and private notes for cash payments and new
secured notes and the related consent solicitation of its
outstanding public notes.


* Claims Trading Activity Declines in June, Says SecondMarket
-------------------------------------------------------------
According to Bloomberg News, a report from SecondMarket Inc. said
that there were $2.146 billion in claim trades in June, the second
fewest this year.  In amount, traded claims in June were one-third
fewer than May.

SecondMarket, according to Bloomberg, said that Lehman Brothers
Holdings Inc., with $1.9123 billion in face amount of traded
claims, was responsible for the bulk of activity.  Flying J Inc.
came in second place with $84.8 million in traded claims.  Flying
J, a vertically integrated oil producer, refiner, and marketer,
had its Chapter 11 plan confirmed July 9.

In number of trades, Lehman as usual led the pack with 224 trades.
Smurfit-Stone Container Corp., with 114 trades, came in second,
after implementing its Chapter 11 plan in June.

In June claims were traded in 64 separate bankruptcy cases,
compared with 47 cases in May, SecondMarket said in its report.


* Colony Capital Wins Bid for $1.85-Bil. in CRE Loans
-----------------------------------------------------
The Federal Deposit Insurance Corporation has closed on a sale of
40% equity interest in a limited liability company created to hold
assets with an unpaid principal balance of approximately
$1.85 billion from 22 failed bank receiverships.  The winning
bidder of the Multibank Structured Transaction is Colony Capital
Acquisitions, LLC, Los Angeles, CA with a price of approximately
59% of the unpaid principal balance.  The Cogsville Group, LLC,
New York, NY, a minority-owned investor, was Colony's junior
equity partner.

As an equity participant, the FDIC will retain a 60% stake in the
LLC and share in the returns on the assets.  The FDIC offered 1:1
leverage financing and has agreed to guarantee Purchase Money
Notes issued by the LLC in the original principal amount of
$545 million.  The sale was conducted on a competitive basis, with
the FDIC receiving a total of 6 bids from 4 bidders on either a
40% leveraged ownership interest or a 20% unleveraged ownership
interest in the newly formed LLC.

Lingling Wei at Dow Jones Newswires reports that the FDIC retained
the remaining 60% and offered seven-year, zero-interest financing
to the Colony-Cogsville group, which reduces the venture's upfront
cash input to $218 million.

Dow Jones notes the deal is the first public-private setup in
which a minority-owned firm has taken a stake, albeit a small one,
during this economic downturn.  Cogsville, an African-American-
owned firm, contributed $16 million to the $218 million
investment, for a 7% stake in the portfolio.

"The FDIC is encouraging partnerships between large and small
firms," Dow Jones quotes Don Cogsville, a former player on the
U.S. national soccer team in 1988 who had worked as a lawyer and
an investment banker before forming his own firm in 2007, as
saying.  "We see it as a major opportunity."

Barclays Capital advised the FDIC on the auction, according to Dow
Jones.

The FDIC as receiver for the failed banks will convey to the LLC a
portfolio of approximately 1,660 distressed commercial real estate
loans, of which approximately 50% are delinquent.  Collectively,
the loans have an unpaid principal balance of $1.85 billion.
Seventy-three percent of the collateral in the portfolio is
located in Nevada, California, Colorado, Arizona and Georgia.  As
the LLC's managing equity owner, Colony will manage, service and
ultimately dispose of the LLC's assets.

The bid received from Colony was determined to be the offer that
resulted in the greatest return to the participating
receiverships.  All of the loans were from banks that failed
during the past 23 months.

The FDIC, through its Minority and Women Outreach Program,
conducts Asset Purchaser, Investor and MDI Outreach Seminars
across the country to facilitate participation by firms such as
Cogsville in its ongoing asset and structured sales.

Congress created the Federal Deposit Insurance Corporation --
http://www.fdic.gov/-- in 1933 to restore public confidence in
the nation's banking system. The FDIC insures deposits at the
nation's 7,932 banks and savings associations and it promotes the
safety and soundness of these institutions by identifying,
monitoring and addressing risks to which they are exposed. The
FDIC receives no federal tax dollars -- insured financial
institutions fund its operations.


* FDIC OKs New Examination Authority in Wake of WaMu Failure
------------------------------------------------------------
Phil Mattingly at Bloomberg News reports that the Federal Deposit
Insurance Corp., moving to address regulatory failures that led to
the collapse of Washington Mutual Inc., approved a proposal to
bolster its ability to examine banks whose health is in question.

"The past financial crisis provided us with a strong and sobering
reminder that the activities of large banks are often complex and
opaque," FDIC Chairman Sheila Bair said at a board meeting this
week in Washington.  "The FDIC needs to have a more active on-site
presence and a greater degree of access to information in order to
fully evaluate the risks to the deposit insurance fund on an
ongoing basis."

According to Bloomberg, the FDIC, the Federal Reserve, the Office
of the Comptroller of Currency and the Office of Thrift
Supervision developed the proposal, which is designed to
streamline backup examinations of U.S.-insured banks.


* Regulators to Assist Fin'l Institutions Hit by Oil Spill
----------------------------------------------------------
The federal financial regulatory agencies and the Conference of
State Bank Supervisors issued a statement Wednesday to assist
financial institutions and their customers affected by the
Deepwater Horizon Mobile Offshore Drilling Unit explosion and oil
spill in the Gulf of Mexico.

The regulators' statement emphasizes that financial institutions
are encouraged to work with their customers and consider measures
to assist creditworthy borrowers affected by the Gulf oil spill.
Such measures can help customers recover financially and be better
positioned to honor their obligations. In the affected areas,
these efforts can also contribute to the health of local
communities and the long-term interests of institutions and their
customers.

Consistent with the regulators' longstanding practice of assessing
the financial condition of institutions directly affected by
natural and other disasters, examiners will consider the unusual
circumstances of banks and credit unions in affected areas in
determining the appropriate supervisory response to safety-and-
soundness issues.

The regulators are committed to working with the industry to
respond to issues that arise in the aftermath of the Gulf oil
spill and to minimize disruption and the burden on banks and
credit unions in affected areas.


* Alejandro Landa Joins Chadbourne & Parke Mexico City Office
-------------------------------------------------------------
The international law firm of Chadbourne & Parke LLP announced
today that Alejandro Landa has joined the firm as counsel in the
Mexico City office.

Mr. Landa has advised Mexican and foreign companies and financial
institutions on the corporate finance components of public bids,
mergers and acquisitions, joint ventures, and domestic and cross-
border asset-backed securitizations.  His experience includes
knowledge of regulatory procedures and preparation of filings with
the Mexico Ministry of Finance, the National Banking and
Securities Commission, PEMEX and other federal and local
government entities.  He also advises on general corporate matters
and transactions related to infrastructure and oil and gas
projects.

Mr. Landa was most recently with Thompson & Knight Abogados, S.C.
in Mexico City.

"We are pleased to welcome Alejandro to our Mexico City office,"
said Chadbourne Managing Partner Charles K. O'Neill.  "We continue
to aggressively add attorneys to our Latin America practice, and
Alejandro will provide additional support to our clients in Mexico
on a range of matters."

"Alejandro brings the right mix of corporate legal expertise that
we and our clients need in Mexico," added Boris Otto, Managing
Partner of Chadbourne's Mexico City office.

Mr. Landa earned an Industrial and Systems Engineer Degree (B.S.)
from Instituto Tecnologico y de Estudios Superiores de Monterrey
in 2002; a law degree (J.D. equivalent) with honors from the
Instituto Tecnologico Autonomo de Mexico in 2004; and a Master in
Financial Law (LL.M.) degree from Columbia University Law School
in 2008.

He has written articles in a range of publications on such topics
as infrastructure, the global financial crisis and cross-border
financing. Mr. Landa is also a member of the Association of
International Petroleum Negotiators.

                     About the Mexico City Office

The Mexico City office opened in 1999.  The office has one of the
largest corporate practices in Mexico and the largest
international and domestic litigation/arbitration practice within
a non-boutique litigation law firm in Mexico.  The expansion into
Latin America reflected the firm's strong practices in energy,
project finance, corporate finance, securitizations, cross-border
mergers & acquisitions and international litigation/arbitration as
well as Chadbourne's solid client relationships in the region.

Lawyers in the corporate and project finance groups of the Mexico
City office have extensive experience in corporate finance
(including structured loans, equity offerings, debt offerings,
leveraged leasing and acquisition and leveraged financing),
securitizations, public finance (including securitizations,
structured loans, regulatory and debt restructurings), private
equity, mergers and acquisitions, infrastructure, energy, real
estate and privatizations.

                    About Chadbourne & Parke LLP

Chadbourne & Parke LLP -- http://www.chadbourne.com-- an
international law firm headquartered in New York City, provides a
full range of legal services, including mergers and acquisitions,
securities, project finance, private funds, corporate finance,
venture capital and emerging companies, energy/renewable energy,
communications and technology, commercial and products liability
litigation, arbitration/IDR, securities litigation and regulatory
enforcement, special investigations and litigation, intellectual
property, antitrust, domestic and international tax, insurance and
reinsurance, environmental, real estate, bankruptcy and financial
restructuring, employment law and ERISA, trusts and estates and
government contract matters. Major geographical areas of
concentration include Russia, Central and Eastern Europe, the
Middle East and Latin America. The Firm has offices in New York,
Washington, DC, Los Angeles, Mexico City, London, Moscow, St.
Petersburg, Warsaw, Kyiv, Almaty, Dubai and Beijing.


* Focus Management Names Robert Starzyk as Managing Director
------------------------------------------------------------
Focus Management Group continued the expansion of its senior
management team with the addition of Robert Starzyk as Managing
Director.

Mr. Starzyk will be based out of the firm's Dallas office and will
serve its clients nationwide.  His addition is part of Focus
Management Group's nationwide growth strategy to add several
senior executives to its leadership team in response to the
continuing increase in demand for the firm's corporate
restructuring services.

"Bob is an excellent addition to the Focus team and will play a
significant role in enabling us to expand our delivery of
turnaround services to our nationwide clientele," said J. Tim
Pruban, President of Focus Management Group.  "He has an expansive
knowledge of the marketplace, and his expertise in advising
clients and their stakeholders will solidify our firm's
restructuring solutions to a wide variety of sectors."

Mr. Starzyk has more than twenty-five years of corporate
restructuring and executive management experience and has served
as Chief Operating Officer, Chief Restructuring Officer, Executive
Vice President, and Financial Advisor for businesses ranging in
size from $50 million to $2 billion.  He is particularly adept in
the areas of cost containment, margin enhancement, operating
improvement, creditor restructuring and financing -- including
debt restructures and equity infusions.

Prior to joining Focus Management Group, Mr. Starzyk led the
turnaround and interim management practice of a leading financial
advisory firm.  His engagements included successfully managing and
advising businesses in a wide range of industries, including
manufacturing, distribution, transportation, hi-tech, oil and gas,
metals fabrication, heavy equipment, retail and printing.

Mr. Starzyk, a Certified Turnaround Professional, was awarded his
BS Degree in Accountancy from the University of Illinois.  He is a
member and past President and Board member of the Southeast
Chapter of the Turnaround Management Association.  He can be
reached at (214) 295-3062 or via e-mail at b.starzyk@focusmg.com

                   About Focus Management Group

Focus Management Group -- http://www.focusmg.com/-- provides
nationwide professional services in turnaround management,
insolvency proceedings, business restructuring and operational
improvement with a senior-level team of 130 professionals.
Headquartered in Tampa, FL, with offices in Atlanta, Chicago,
Cleveland, Columbus, Dallas, Los Angeles and Philadelphia, the
firm provides a full portfolio of services to distressed companies
and their stakeholders, including secured lenders and equity
sponsors.


* Siller Wilk LLP to Change Name to Wilk Auslander LLP
------------------------------------------------------
Siller Wilk LLP disclosed the name of the firm would be changed to
Wilk Auslander LLP effective August 1, 2010.

Partners Jack Wilk and Jay Auslander said that the 40-lawyer firm,
which has a diverse practice, including litigation, real estate,
corporate, bankruptcy, tax, trusts and estates and intellectual
property practices, has experienced significant growth throughout
its 23 year history and is now poised for additional expansion.

The name change follows the departure of Stephen Siller.  "We all
wish Steve Siller well," said Wilk, who co-founded the firm in
1987 and is serving as Managing Partner and a member of the firm's
management committee.  "We are changing our name but otherwise
remain the same firm our clients have trusted and relied on
throughout our history.  The strong growth we have experienced
over the past several years is continuing and we are very
enthusiastic about the future."

Auslander, whose practice focuses on complex corporate and
commercial litigation, including matters before the SEC and FINRA,
noted that: "Our firm has grown over the years despite the
challenging economic environment.  Unlike many other firms, we
have not had to reduce our ranks during the recession.  The last
few years have been our strongest ever and we look forward to
continued growth and success."

The firm's clients include hedge funds, investment banks,
institutional investors, senior secured and mezzanine lenders,
venture capital firms, real estate developers and operators, and
companies in the public and private domestic and multinational
industrial, service, media, energy, biotech, health care and
technology sectors.

The firm's engagements cover a wide range of general and
transactional work, including mergers and acquisitions, real
estate leasing, lending and conveyance transactions, commercial
lending, licensing, securities offerings, tax, joint ventures,
venture capital, e-commerce, estate planning, ERISA, creditors'
and debtors' rights and workouts.  Its litigation department has
significant experience in a broad range of corporate and
governmental investigations and complex corporate, commercial,
securities, intellectual property, professional liability and real
estate matters.

In addition to its New York office, the firm has an office in
Geneva, from which it services its European clients.


* BOOK REVIEW: The Executive Guide to Corporate Bankruptcy
----------------------------------------------------------
Authors: Thomas J. Salerno; Craig D. Hansen; Jordan A. Kroop
Publisher: Beard Books
Hardcover: 728 pages
List Price: $174.95

The newly revised edition of The Executive Guide To Corporate
Bankruptcy is perfectly timed.  As the global economy continues to
deteriorate, more and more companies are sinking into insolvency
with executives at their helm who need a crash course in
bankruptcy realities.  This excellent book will quickly get both
the seasoned executive and the uninitiated lawyer up to speed on
the bankruptcy process.

Salerno, Kroop and Hansen understand that the reorganization
process can be intimidating, puzzling, and generally unpleasant.
They penetrate the opaque gloom that some lawyers tend to
perpetuate.  Each chapter of this book addresses a different
aspect of the reorganization process, beginning with an overview
of the origins and purpose of US bankruptcy laws and ending with a
debunking of common myths about reorganization.  In between, they
discuss each chapter of the bankruptcy code; discussing the gamut
from liquidations through Chapter 11 sales and full-blown
reorganizations.  The authors' ability to distill the bankruptcy
code's complex language into comprehensible and manageable blocks
of information makes the book extremely readable.

The Executive Guide is full of pragmatic advice.  After laying out
the essential elements and key players in the restructuring
process, the authors get down to the nitty gritty of navigating a
distressed company through reorganization.  They realistically
assess the challenges that an executive should expect to face in
Chapter 11.  They discuss how to assuage and balance the concerns
of employees and key vendors, address the inevitable creditor
dissatisfaction with executive compensation, deal with members of
their professional team and work effectively as an executive whose
actions will be constantly scrutinized and second-guessed.  The
authors also provide the cautionary note that "executives
preparing to embark on a reorganization are usually too
preoccupied with business emergencies to think about the personal
toll that the process will exact."

One common flaw in books that try to be accessible while dealing
with technical topics is that they fall short in providing the
reader with a substantive understanding of the subject matter.
The Executive Guide to Corporate Bankruptcy avoids this pitfall.
The book's fourth and fifth chapters provide in-depth analysis of
the strategic decisions and steps that should be taken during the
restructuring process.  The authors explain the importance that
venue can have a case, the intricacies of first day motions and
how to prepare for confirmation.  There is a detailed discussion
of the sale of assets during the course of a Chapter 11
restructuring and the importance of making sure that major
constituencies are a part of the decision-making process.  They
also walk the reader through the specifics of a plan of a
reorganization, explaining the dynamics of the negotiation
process, especially how to understand and appreciate the needs of
your constituents and how to get a plan confirmed.

The icing on the cake for this book is the excellent appendix.
The final section of the book includes a user-friendly glossary of
commonly used bankruptcy terms and a reorganization timeline.  It
also includes sample documents such as debtor-in-possession (DIP)
financing agreements, operating reports, first day motions and
orders, management severance agreements, and more.  The summary of
management incentive stock plans implemented in recent
restructuring transactions is particularly informative.

This is a terrific book.  While geared to the non-lawyer
executive, it will also be a useful resource for any lawyer who
wants to gain practical familiarity with the bankruptcy process.
This should be a best seller in today's environment, though it may
need to be delivered to most executives in a brown paper wrapper.



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Howard
C. Tolentino, Joseph Medel C. Martirez, Denise Marie Varquez,
Philline Reluya, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2010.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


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