TCR_Public/100720.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Tuesday, July 20, 2010, Vol. 14, No. 199

                            Headlines


621 STOCKTON: Voluntary Chapter 11 Case Summary
6231 MURPHY: Case Summary & Largest Unsecured Creditor
ABDUL SHEIKH: Court Wants Plan Confirmed by February 2011
ABITIBIBOWATER INC: CCAA Stay Period Extended Until Sept. 8
ABITIBIBOWATER INC: Court Moves Disc. Statement Hearing Sine Die

ABITIBIBOWATER INC: Court OKs Tenth Consent as to DIP Facility
ABITIBIBOWATER INC: Wants Removal Period Extended Until Nov. 8
AGRISOLAR SOLUTIONS: Continuous Losses Cue Going Concern Doubt
ALERIS INT'L: Weil Gotshal Asks for $9.2 Million in Fees
ALLIS-CHALMERS: 2 Officers Unload Shares for Tax Purposes

AMERICAN AXLE: Board Committee OKs Deal with Lancaster
AMERICAN INT'L: Settles Securities Fraud Class Actions
AMERICAN MEDIA: Moody's Downgrades Default Rating to 'Ca'
ANPATH GROUP: Posts $2.9 Million Net Loss in Fiscal 2010
ANV SECURITY: Lack of Revenue Activities Cue Going Concern Doubt

ATLANTIC COAST: U.S. Trustee Unable to Form Creditors Committee
AVIS BUDGET: Launches Exchange Offer for 9-5/8% Senior Notes
B4 CATTLE: Case Summary & 20 Largest Unsecured Creditors
BAY CITI: Voluntary Chapter 11 Case Summary
BAYVIEW HOLDINGS: Promises to Pay Creditors from Distribution Fund

BERT SMITH: Case Summary & 20 Largest Unsecured Creditors
BISCAYNE PARK: U.S. Trustee Unable to Form Creditors Committee
BISCAYNE PARK: Joel L. Tabas Appointed Chapter 11 Examiner
BISCAYNE PARK: Wants Additional 120 Days to Propose Ch. 11 Plan
BLOCKBUSTER INC: Mark Wattles Retains 15.3% Stake

BLOUNT INC: S&P Assigns 'BB-' Rating on $425 Mil. Senior Notes
BP PLC: Asks Shareholders About Possible Restructuring
BROWN PUBLISHING: Creditors Commences Suit on Lenders
CABLEVISION SYSTEMS: GAMCO Holds 4.11% of NY Group Class A Shares
CANWEST GLOBAL: Canada Creditors OK Restated Plan of Compromise

CAPMARK FINANCIAL: Creditors Investigating $1.5-Bil. Loan
CASELLA WASTE: S&P Affirms Corporate Credit Rating at 'B+'
CELL THERAPEUTICS: Officers & Directors Acquire Restricted Shares
CENTERPLATE INC: Moody's Assigns 'B3' Corporate Family Rating
CFRI/GREENLAW DYER: Section 341(a) Meeting Scheduled for Aug. 11

CHINA ARCHITECTURAL: Receives Extended Waiver from Bondholders
CIMINO BROKERAGE: Plan Confirmation Hearing Set for July 29
CIRCUIT CITY: Has Buyer for Corp. Headquarters Lot
CISTERA NETWORKS: Robison Hill Raises Going Concern Doubt
CITIGROUP INC: Earns $2.7 Billion for Second Quarter 2010

COMPLIANCE SYSTEMS: Agile Opportunity Fund Holds 9.9% of Shares
COMPLIANCE SYSTEMS: Issues Warrants to CFO as Dividend Payment
COMPLIANCE SYSTEMS: President Defers Q3 Salary, Gets Warrants
CONTROLADORA COMERCIAL: Files for Chapter 15 Protection
DENNY'S CORPORATION: Names Gregg Dedrick to Board of Directors

ELBIT VISION: Recurring Losses Prompt Going Concern Doubt
ENERGY FUTURE: Units Launch Exchange Offers of Outstanding Notes
EURONET WORLDWIDE: Moody's Upgrades Corp. Family Rating to 'Ba3'
EVERGREEN INVESTMENTS: Plans to Liquidate Evergreen Int'l Fund
EXTENDED STAY: ESA TXGP Proposes to Set Claims Bar Date

FAIRMOUNT MINERALS: S&P Assigns 'BB-' Corporate Credit Rating
FORUM HEALTH: To Provide Copies of MOU to MBIA Insurance
FRANCES CROFTS: Case Summary & 13 Largest Unsecured Creditors
FX REAL ESTATE: Stockholders Elect Six Directors
GARLOCK SEALING: Court Grants Final Approval to DIP Financing

GARLOCK SEALING: Sec. 341 Meeting Continued to August 4
GARLOCK SEALING: Proposes to Assume Daikin-America Contract
GARLOCK SEALING: Wins Final Nod to Use BoA Cash Collateral
GARNEAU INC: Enters Alternate Financing Arrangement
GENERAL MOTORS: New GM Seeks $5 Bil. Add'l Credit to Repay Debts

GENERAL MOTORS: Nexteer Workers Return Wage Increase to Help Sale
GENERAL MOTORS: Verdict on Dealers' Shutdown Appeal on July 23
GENERAL GROWTH: Hughes Heirs Call for Evidentiary Hearing Denied
GLOBAL CROSSING: 12 Directors Acquire 7,229 Restricted Shares Each
GREEN PLANET: Significant Operating Losses Cue Going Concern Doubt

HAYES LEMMERZ: Plan of Reorganization Wins Court Approval
HOTELS UNION SQUARE: W Hotel to Be Sold Under Chapter 11 Plan
HMSC CORPORATION: Moody's Affirms 'Ba3' Corporate Family Rating
IA GLOBAL: Significant Operating Losses Cue Going Concern Doubt
IMAGEWARE SYSTEMS: Inks Two-Year Agreement with IBM Canada

IMPLANT SCIENCES: Director Converts Promissory Note to Equity
IMPLANT SCIENCES: New CFO Deschenes Discloses Stock Options
INNKEEPERS USA: Files Prepack Chapter 11; Gives Equity to Lehman
INVISTA BV: S&P Raises Corporate Credit Rating to 'BB-'
ITAL STONE: Case Summary & 20 Largest Unsecured Creditors

JACKSON HEWITT: Deloitte & Touche Raises Going Concern Doubt
JDG INVESTMENTS: Section 341(a) Meeting Scheduled for Aug. 13
JENNIFER CONVERTIBLES: Files Voluntary Petition for Chapter 11
KAREN THOMAS: Voluntary Chapter 11 Case Summary
KB HOME: S&P Downgrades Corporate Credit Rating to 'B+'

KINGDOM DONUTS: Voluntary Chapter 11 Case Summary
L.A. & G. LAREDO: Voluntary Chapter 11 Case Summary
LA VISTA: Files for Bankruptcy to Sell Off Assets
LEHMAN BROTHERS: Bank of New York Fights with Creditors over Plan
LEXINGTON PRECISION: Rubber Group Unsecureds Vote 'No' on Plan

LITTLE TOKYO: Case Summary & 20 Largest Unsecured Creditors
LOWER BUCKS: Court Fixes August 20 as Bar Date for All Claims
MAC MAYER: Voluntary Chapter 11 Case Summary
MARK J GINSBURG: Has Until October 7 to File Reorganization Plan
MARKET STREET: Has Until December 31 to File Reorganization Plan

MEDICAL STAFFING: Gets Court OK to Reject 7 Leases
MEDICAL STAFFING: Gets OK to Reject Goldman Sachs Contract
MICHAELS STORES: Elaine Crowley to Resign as Sr. Vice President
MONDRIAN TTL: Creditors Have Until Aug. 15 to File Proofs of Claim
MONEYGRAM INT'L: New CFO Shields Gets Options to Buy 2MM Shares

MONICA LESTER: Case Summary & 16 Largest Unsecured Creditors
MORGAN STANLEY: Mulls Options for Real Estate Fund
NEW BERN: Wants Until August 30 to Propose Reorganization Plan
OPTI CANADA: Reports Operating Results for June 30 Quarter
PATRICK HACKETT: Bank Says Disclosure Statement Is Inadequate

PAHRUMP RENTALS: Voluntary Chapter 11 Case Summary
PRIUM KENT: Case Summary & 19 Largest Unsecured Creditors
PRIUM MEEKER: Case Summary & 19 Largest Unsecured Creditors
PROTECTIVE PRODUCTS: In Talks with Creditors Panel on Plan Changes
RADIO ONE: Extends Expiration Offer of Senior Notes to July 31

RCLC INC: Settles with PBGC Over 2009 Litigation
RENAISSANT LAFAYETTE: Wants Until August 20 to File Ch. 11 Plan
SENSIVIDA MEDICAL: Posts $342,264 Net Loss in Q1 Ended May 31
SEVERN BANCORP: Returns to Profitability in Second Quarter 2010
SHOREBANK CORP: Continues to Wait for $75-Mil. Gov't Bailout

SPANSION INC: Tessera IP Dispute Moving to District Court
SPHERIS INC: Schedules August 26 Confirmation Hearing
SUNESIS PHARMA: Alta BioPharma Holds 9.9% of Common Stock
SUNESIS PHARMA: Registers 175,847,950 Shares
TAYLOR BEAN: FDIC Backs Exclusivity Extension Bid

TELESAT CANADA: Moody's Affirms 'B2' Corporate Family Rating
TEXAS RANGERS: Secured Lenders Ask for Reconsideration
THORNBURG MORTGAGE: U.S. Trustee Sues Orrick for Dishonesty
TRIBUNE CO: Barclays Sells $150 Mil. in Claims to Oaktree
TRICO MARINE: Issues Senior Secured Notes Due 2014

TRONOX INC: Says Anadarko Throwing 'Wrench' into Case
TRUMP ENTERTAINMENT: Successfully Emerges From Chapter 11
TRUVO USA: Disclosure Statement Hearing Scheduled for August 5
TSG INC: PNC Cash Collateral Hearing Continued Until July 21
UNIGENE LABORATORIES: Directors Get Shares as Fees Payment

UNIGENE LABORATORIES: Registers 80,760,650 for Resale
UNITED ENERGY: Jewett Schwartz Raises Going Concern Doubt
U.S. CONCRETE: Has Until July 23 to File Schedules and Statements
USG CORP: Judith Sprieser to Resign as Director
VALLEJO, CALIFORNIA: Tough Budget Puts Police Jobs in Jeopardy

VICTOR SOTO: Case Summary & 18 Largest Unsecured Creditors
VISTEON CORP: Considering Stock Sale to Unsecured Creditors
WHITE ENERGY: Wins Confirmation of Reorganization Plan
WINALTA INC: Gets 2nd CCAA Protection Extension Until August 6
WORLDGATE COMMUNICATIONS: New CFO Dole Receives Stock Options

* House Bill Would Limit a Bankrupt BP's Ability to Sell Assets
* S&P's Tally of Year's Corporate Defaults Now at 44
* Six Takeovers Bring Year's Bank Failures to 96

* Tracy Hope Davis Is Acting U.S. Trustee for Region 2

* Large Companies With Insolvent Balance Sheets


                            ********


621 STOCKTON: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: 621 Stockton DE, LLC
        2099 Market St.
        San Francisco, CA 94114

Bankruptcy Case No.: 10-32661

Chapter 11 Petition Date: July 15, 2010

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

Judge: Thomas E. Carlson

Debtor's Counsel: John H. MacConaghy, Esq.
                  MacConaghy and Barnier
                  645 1st St. W #D
                  Sonoma, CA 95476
                  Tel: (707) 935-3205
                  E-mail: macclaw@macbarlaw.com

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

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

The petition was signed by Edward C. Singer, Jr., authorized
agent.

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

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Civic Properties DE, LLC               10-_____   __/__10
Bay Citi Properties II DE, LLC         10-_____   __/__10
LRL Citigroup Properties II DE, LLC    10-_____   __/__10
Herman Street DE, LLC                  10-30413   __/__10
LRL Citi Properties I DE, LLC          10-30414   __/__10
Trophy Properties I DE, LLC            10-30415   __/__10
Sutter Associates DE, LLC              10-30416   __/__10


6231 MURPHY: Case Summary & Largest Unsecured Creditor
------------------------------------------------------
Debtor: 6231 Murphy Way Management, LLC
        7660-H Fay Avenue, Suite 529
        La Jolla, CA 92037

Bankruptcy Case No.: 10-12357

Chapter 11 Petition Date: July 14, 2010

Court: United States Bankruptcy Court
       Southern District of California (San Diego)

Judge: Peter W. Bowie

Debtor's Counsel: Thomas C. Nelson, Esq.
                  Law Offices of Thomas C. Nelson
                  484 Prospect Ave.
                  La Jolla, CA 92037
                  Tel: (858) 875-5092
                  E-mail: tom@tcnlaw.com

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

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

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

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Amy Coplen                Trade debt-services    $1,000
2082 Michelson Drive,
Suite 450
Irvine, CA 92612

The petition was signed by Keith Middlebrook, manager.


ABDUL SHEIKH: Court Wants Plan Confirmed by February 2011
---------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
extended Abdul Halim Sheikh's exclusive periods to file and
solicit acceptances for the proposed Chapter 11 Plan until
September 3, 2010, and December 3, respectively.

The Court said that this is the last extension of the exclusive
periods.

The Court also added that the Debtor must obtain court approval of
his Plan by February 3, 2011.

The Debtor is represented by:

     James Andrew Hinds, Jr., Esq.
     E-mail: jhinds@jhindslaw.com
     Paul R. Shankman, Esq.
     E-mail: pshankman@jhindslaw.com
     Hanna B. Raanan, Esq.
     E-mail: hrannan@jhindslaw.com
     Law Offices of James Andrew Hinds, Jr.
     21515 Hawthorne Blvd., Suite 1150
     Torrance, CA 90503
     Tel: (310) 316-0500
     Fax: (310) 792-5977

                      About Abdul Halim Sheikh

Palos Verdes Estates, California-based Abdul Halim Sheikh aka A.H.
Sheikh filed for Chapter 11 on Oct. 27, 2009 (Bankr. Case C.D.
Calif. No. 09-39652).  Paul R. Shankman, Esq., represents the
Debtor in its restructuring effort.  In its petition, the Debtor
listed assets and debts both ranging from $10,000,001 to
$50,000,000.


ABITIBIBOWATER INC: CCAA Stay Period Extended Until Sept. 8
-----------------------------------------------------------
The Honorable Justice Daniele Mayrand, J.S.C., of the Superior
Court Commercial Division for the District of Montreal in Quebec,
Montreal, Canada, extended the period within which no right may
be exercised and no proceeding may be commenced or proceeded
against Abitibi-Consolidated Inc., Bowater Inc. and certain of
their affiliates, as applicants under the Companies' Creditors
Arrangement Act of Canada, or any of their property, assets,
rights and undertaking, through and including September 8, 2010.

The CCAA Applicants earlier sought a CCAA Stay extension through
September 15.  Notably, the CCAA Applicants said that a September
15 Stay Period Extension "[is] based upon the cash flow forecast
to be reported [by] the Monitor."

Stikeman Elliott LLP, in Montreal, Canada, related on behalf of
the CCAA Applicants that the requested Sixth Extended CCAA Stay
Period is necessary in order to provide the CCAA Applicants with
adequate time to move forward with the adjudication of disputed
claims and allow their stakeholders sufficient time to consider
and vote on the CCAA Plan of Reorganization and Compromise in the
context of the CCAA Proceedings.

The CCAA Applicants' current CCAA Stay Period is set to expire on
July 30, 2010.  Stikeman noted that since the issuance of the
Fifth Extension Order, the CCAA Applicants have acted, and
continue to act, in good faith and with due diligence.
Specifically, they have continue to work on implementing and
maintaining effective procedures to permit an efficient
monitoring of their financial situation, along with the
assistance of Ernst & Young, Inc., as the monitor overseeing the
CCAA Proceedings, when required, Stikeman averred.

No creditor will suffer any undue prejudice by the Sixth
Extension of the Stay Period as the Applicants forecast to have
sufficient liquidity during that period, according to Stikeman.

                     About AbitibiBowater

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

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

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

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

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


ABITIBIBOWATER INC: Court Moves Disc. Statement Hearing Sine Die
----------------------------------------------------------------
Judge Kevin J. Carey of the U.S. Bankruptcy Court for the
District of Delaware has adjourned the hearing to consider the
adequacy of the Disclosure Statement accompanying the First
Amended Chapter 11 Plan of Reorganization in the cases of
AbitibiBowater, Inc., and its debtor affiliates "to a date and
time to be determined by the Court."

The Disclosure Statement Hearing was previously slated for
July 15, 2010.  It was moved from the original schedule of
July 7.

"The Court will conduct a telephonic scheduling conference in
lieu of the hearing.  Parties wishing to participate in the
scheduling conference must register . . .  in accordance with the
Court's procedures," the Debtors announced.

Concurrent with the Disclosure Hearing Adjournment, U.S. Bank,
National Association, reserved all its rights, including the
right to object to approval of the Disclosure Statement.

U.S. Bank is successor indenture trustee under an Indenture of
Trust dated as of April 1, 2008, as amended by and among:

  * Abitibi-Consolidated Company of Canada, as issuer;

  * Abitibi-Consolidated Alabama Corporation, Abitibi
    Consolidated Corporation, Abitibi Consolidated Sales
    Corporation, Alabama River Newsprint Company, Augusta
    Woodlands, LLC and Donohue Corp., or the Donohue Group, as
    guarantor parties; and

  * Wells Fargo Bank, N.A., as the original indenture trustee.

The Indenture details ACCC's issuance of $413,000,000 of 13.75%
Senior Secured Notes due 2014.

The Donohue Group entities are not direct or indirect
subsidiaries of the Canadian Debtors, but rather are direct and
indirect subsidiaries of AbitibiBowater, Inc.

John H. Schanne, II, Esq., at Pepper Hamilton LLP, in Wilmington,
Delaware, tells Judge Carey that U.S. Bank holds:

  (i) senior secured claims in the proceedings under the
      Companies' Creditors Arrangement Act in Canada by virtue
      of its liens on, among other things, the equipment,
      general intangibles and real estate of ACI and its
      subsidiaries and a pledge of certain equity holdings of
      ACCC; and

(ii) unsecured claims in the Chapter 11 cases on account of
      the Donohue Entities' guarantees of the 13.75% Senior
      Secured Notes.  The Claims are referred to in the Chapter
      11 Plan as the 13.75% Senior Secured Notes Guaranty
      Claims.

The Claims of the 13.75% Senior Secured Notes Indenture Trustee
and the holders of 13.75% Senior Secured Notes arising under or
relating to the 13.75% Senior Secured Notes or the 13.75% Senior
Secured Notes Indenture and related collateral documents and
agreements, as fully secured claims, are "unaffected claims" in
the CCAA Proceedings, Mr. Schanne explains.

Accordingly, Mr. Schanne says, U.S. Bank understands that the
13.75% Senior Secured Notes Claims are to be paid in full, in
cash, on the implementation date of the CCAA Plan of
Reorganization and Compromise.  The Chapter 11 Plan and the CCAA
Plan contemplate that the effective date of the Plans and the
implementation date of the CCAA Plan will occur simultaneously,
Mr. Schanne notes.

Mr. Schanne confirms that U.S. Bank has been engaged in
discussions with the Debtors aimed at making the U.S. Plan
consistent with the status of the 13.75% Senior Secured Notes
Claims as "unaffected claims" in the CCAA Proceedings.

In fact, according to Mr. Schanne, U.S. Bank has "an agreement in
principle" with the Debtors regarding amendments to clarify,
among other things, that neither the Chapter 11 Plan nor any
order confirming the Plan will (i) affect, limit or impair the
obligations of any CCAA Applicant relating to the 13.75% Senior
Secured Notes or 13.75% Senior Secured Notes Indenture; or (ii)
affect, limit or impair any rights of the 13.75% Senior Secured
Notes Indenture Trustee or the holders of 13.75% Senior Secured
Notes with respect to any liens, interests or other rights they
may have with respect to any property of any CCAA Applicant.

                     About AbitibiBowater

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

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

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

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

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


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

The Court's approval is consistent with a revised proposed order
submitted by the Debtors to address informal comments made by the
Official Committee of Unsecured Creditors.  The revisions, as
agreed between the Bowater Debtors and DIP Lenders, relate to the
duration fee under the Tenth DIP Consent.

The Amended Tenth DIP Consent provides that if the aggregate
principal amount of the advances has not been repaid in full on
or prior to October 15, 2010, the Borrowers will pay to the
Administrative Agent for the account of the Lenders a fee equal
to 0.5% of the aggregate amount of the Advances outstanding on
October 15, 2010, made by each Lender, that fee being due and
payable on October 15, 2010.  Once paid, the Fee will be non-
refundable in all circumstances.

Other key terms of the Tenth DIP Amendment consist of:

  * An extension of the DIP Maturity Date to the earliest of
    December 31, 2010 or the effective date of the Chapter 11
    Plan of Reorganization;

  * The Debtors' repayment of the principal amount outstanding
    until only $40 million in the aggregate principal amount
    remains outstanding;

  * Reduction of applicable margin to 5%, in the case of a Base
    Rate Advance, and 6%, in the case of a LIBOR Advance; LIBOR
    floor reduction to 2%;

  * An extension of the Minimum Consolidated Fixed Charge
    Coverage Ratio covenant for the four fiscal quarter periods
    ending December 31, 2010, and the setting of the covenant at
    the same level as the four fiscal quarter periods ending
    September 30, 2010;

  * An extension of the Minimum Consolidated EBITDA 2010
    covenant for each of the 12-month periods ending on
    October 31, 2010, November 31, 2010, and December 31, 2010,
    and the setting of the covenant at the same level as the 12-
    month period ending on September 30, 2010;

  * Discontinued mandatory prepayment with respect to asset
    dispositions pursuant to the Debtors' de minimis asset sale
    procedures; and

  * An increase of the basket for the aggregate basked amount of
    debt owed by subsidiaries of the Debtors which are not
    borrowers or guarantors under the DIP Credit Agreement to
    borrowers or guarantors by $10,000,000 to $35,000,000.

No objections were received, according to Sean T. Greecher, Esq.,
at Young Conaway Stargatt & Taylor, LLP, in Wilmington, Delaware.

The Debtors have estimated that the Tenth DIP Amendment will
yield cost savings of approximately $4 million through the end of
September 2010.

                     About AbitibiBowater

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

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

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

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

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


ABITIBIBOWATER INC: Wants Removal Period Extended Until Nov. 8
--------------------------------------------------------------
AbitibiBowater Inc. and its units ask U.S. Bankruptcy Judge Kevin
Carey to extend the time within which they may file notices of
removal of civil actions and proceedings in state and federal
courts to which they are or may become parties to, through and
including November 8, 2010, with respect to claims and causes of
action pending as of the Petition Date.

The Debtors' current Removal Action Period expired on July 10,
2010.

According to Sean T. Greecher, Esq., at Young Conaway Stargatt &
Taylor, LLP, in Wilmington, Delaware, since the Third Extended
Removal Period, the Debtors have focused principally on the
continued rationalization of their operations, the disposition of
burdensome assets and a thorough evaluation of their business
operations.  The Debtors add that in the past 120 days, they have
undertaken substantial efforts to negotiate, formulate and
present the First Amended Chapter 11 Joint Plan of Reorganization
and Disclosure Statement.

However, Mr. Greecher notes, the Debtors have not had the
opportunity to fully investigate their outstanding litigation
matters and adequately consider whether removal, pursuant to Rule
9027 of the Federal Rules of Bankruptcy Procedure, is
appropriate.

Mr. Greecher contends that further extending the Debtors' Removal
Period will afford them the additional opportunity to consider
removal of the various litigation matters in a fully informed
manner and consistent with the best interests of their estates.
Absent the requested extension, the Debtors would lose a
potentially key element of their overall ability to manage
litigation during their Chapter 11 cases even before that
litigation would reasonably have been evaluated, he tells Judge
Carey.

Mr. Greecher insists that preserving the Debtors' ability to
remove actions imposes no delay or unnecessary burdens on any
counterparty to claims or other causes of action relating to the
Chapter 11 cases.  On the contrary, counterparties will be better
served if the Debtors have additional time to evaluate their
options, he avers.

The Court will convene a hearing on August 4, 2010, to consider
approval of the Debtors' request.  Objections, if any, must be
filed by July 23.

                     About AbitibiBowater

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

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

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

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

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


AGRISOLAR SOLUTIONS: Continuous Losses Cue Going Concern Doubt
--------------------------------------------------------------
AgriSolar Solutions, Inc. (formerly V2K International, Inc.) filed
on July 14, 2010, its annual report on Form 10-K for the fiscal
year ended March 31, 2010.

ZYCPA Company Limited, in Hong Kong, China, expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that the Company has incurred
continuous losses.

The Company reported a net loss of $921,955 on $4,607,957 of
revenue for fiscal 2010, compared with a net loss of $366,541 on
$1,523,927 of revenue for fiscal 2009.

The Company's balance sheet at March 31, 2010, showed
$5,040,611 in assets, $3,725,933 of liabilities, and $1,314,678 of
stockholders' equity.

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

               http://researcharchives.com/t/s?66a7

Denver, Colo.-based AgriSolar Solutions, Inc. (OTC BB: AGSO)
through its wholly-owned subsidiary, Shenzhen Fuwaysun Technology
Company Limited, a People's Republic of China corporation, is
engaged primarily in the development, production and sale of solar
products, including a solar insect killer and other products
designed for agricultural and commercial use.  The Company's
manufacturing facility is located in Shenzhen, the People's
Republic of China, and a substantial majority of its current sales
and business operations are in China.

The Company was incorporated in the State of Colorado on March 13,
2006, under the name V2K International, Inc.  On January 8, 2010,
the Company changed its company name from "V2K International,
Inc." to its current name.


ALERIS INT'L: Weil Gotshal Asks for $9.2 Million in Fees
--------------------------------------------------------
Weil Gotshal & Manges LLP has asked for almost $9.2 million in
fees and expenses for its work shuttling Aleris International Inc.
through a 16-month bankruptcy, Bankruptcy Law360 reports.

Weil Gotshal cited the size and complexity of the "demanding"
case, as well as the firm's commitment of time and resources, to
back up a request for over $8.9 million, Law360 says.

                     About Aleris International

Aleris International, Inc., produces and sells aluminum rolled and
extruded products.  Aleris operates primarily through two
reportable business segments: (i) global rolled and extruded
products and (ii) global recycling.  Headquartered in Beachwood,
Ohio, a suburb of Cleveland, the Company operates over 40
production facilities in North America, Europe, South America and
Asia, and employs approximately 8,400 employees.  Aleris operates
27 production facilities in the United States with eight
production facilities that provided rolled and extruded aluminum
products and 19 recycling production plants.

Aleris International, Inc., aka IMCO Recycling Inc., and various
affiliates filed for bankruptcy on February 12, 2009 (Bankr. D.
Del. Case No. 09-10478).  The Hon. Brendan Linehan Shannon
presides over the cases.  Stephen Karotkin, Esq., and Debra A.
Dandeneau, Esq., at Weil, Gotshal & Manges LLP in New York, serve
as lead counsel for the Debtors.  L. Katherine Good, Esq., and
Paul Noble Heath, Esq., at Richards, Layton & Finger, P.A.  In
Wilmington, Delaware, serves as local counsel.  Moelis & Company
LLC, acts as financial advisors; Alvarez & Marsal LLC as
restructuring advisors, and Kurtzman Carson Consultants LLC as
claims and noticing agent for the Debtors.  As of December 31,
2008, the Debtors had total assets of US$4,168,700,000; and total
debts of US$3,978,699,000.

In June 2010, Aleris International, Inc., emerged from Chapter 11,
having completed its financial and operational restructuring.


ALLIS-CHALMERS: 2 Officers Unload Shares for Tax Purposes
---------------------------------------------------------
Terrence P. Keane, Senior Vice President-Oilfield Services of
Allis-Chalmers Energy, Inc., disclosed that he disposed of 2,380
company shares on July 1, 2010 -- paring his stake to 165,479
shares.  The shares were withheld to satisfy tax obligations in
connection with the vesting of shares of restricted stock on such
date.

Ted Pound, General Counsel and Secretary of Allis-Chalmers
disclosed that he disposed of 793 company shares on July 1, 2010
-- paring his stake to 99,828 shares.  The shares were withheld to
satisfy tax obligations in connection with the vesting of shares
of restricted stock on such date.

Director Zane Tankel disclosed that on June 23, 2010, he acquired
30,000 shares -- raising his stake 243,280 shares.

                  About Allis-Chalmers Energy

Houston, Texas-based Allis-Chalmers Energy Inc. (NYSE: ALY) --
http://www.alchenergy.com/-- is an oilfield services company.
Allis-Chalmers provides services and equipment to oil and natural
gas exploration and production companies, domestically primarily
in Texas, Louisiana, New Mexico, Oklahoma, Arkansas, offshore in
the Gulf of Mexico, and internationally, primarily in Argentina,
Brazil and Mexico.

                         *     *     *

Allis-Chalmers carries 'B-' issuer credit ratings, with stable
outlook, from Standard & Poor's.  It has 'B3' corporate family and
probability of default ratings, with stable outlook, from Moody's.
Its senior unsecured debt has 'Caa1' senior unsecured debt rating
from Moody's.


AMERICAN AXLE: Board Committee OKs Deal with Lancaster
------------------------------------------------------
The Compensation Committee of the Board of Directors of American
Axle & Manufacturing Holdings Inc. approved an agreement between
Patrick S. Lancaster and American Axle & Manufacturing, Inc., to
provide cash payments and certain other benefits to Mr. Lancaster
in connection with his retirement from AAM effective January 1,
2011.

Effective July 12, 2010, through his Retirement Date,
Mr. Lancaster will assume the role of Special Advisor to the
Company's Co-Founder, Chairman of the Board & Chief Executive
Officer, Richard E. Dauch, a non-officer position.  Mr. Lancaster
was identified as a named executive officer in the Company's 2010
Proxy Statement.  In connection with this agreement, Mr. Lancaster
will receive a cash payment of $850,000 in 2010 and a $704,000
annual bonus payment for 2010 payable in 2011.

In addition, Mr. Lancaster will receive consulting fees of
$420,000 payable in monthly installments in 2011.  Also as part of
this agreement, all outstanding restricted stock and restricted
stock unit awards will vest on the Retirement Date.  Payments made
pursuant to this agreement are conditioned upon Mr. Lancaster's
execution of a full waiver and release of claims against the
Company.

Mr. Lancaster will remain eligible to receive the award granted to
him under the Senior Executive Special Incentive Program and a pro
rata share of certain long-term cash incentive awards.

                     About American Axle

Headquartered in Detroit, Michigan, American Axle & Manufacturing
Holdings Inc. (NYSE: AXL) -- http://www.aam.com/-- is a Tier I
supplier to the automotive industry.  American Axle manufactures,
engineers, designs and validates driveline and drivetrain systems
and related components and chassis modules for light trucks, sport
utility vehicles, passenger cars, crossover vehicles and
commercial vehicles.  American Axle is the principal supplier of
driveline components to General Motors for its rear-wheel drive
light trucks and SUVs manufactured in North America, supplying
substantially all of GM's rear axle and front four-wheel drive and
all-wheel drive (4WD/AWD) axle requirements for these vehicle
platforms.  Sales to GM were roughly 78% of the Company's total
net sales in 2009, 74% in 2008 and 78% in 2007.  In addition to
locations in the United States (Michigan, New York, Ohio and
Indiana and Pennsylvania), the Company also has offices or
facilities in Brazil, China, Germany, India, Japan, Luxembourg,
Mexico, Poland, Scotand, South Korea and Thailand.

The Company's balance sheet as of Dec. 31, 2009, showed
$1.987 billion in assets and $2.547 billion of debts, for a
$559.9 million stockholders' deficit.


AMERICAN INT'L: Settles Securities Fraud Class Actions
------------------------------------------------------
American International Group Inc. approved the terms of a
settlement with the lead plaintiffs in the putative securities
fraud class actions filed beginning in October 2004 in the
Southern District of New York, titled In re AIG Securities
Litigation.

This litigation is described under "2006 Regulatory Settlements
and Related Matters -- Securities Action -- Southern District of
New York" in footnote 9 of AIG's unaudited Consolidated Financial
Statements included in AIG's Quarterly Report on Form 10-Q for the
quarterly period ended March 31, 2010.  The Settlement is
conditioned on, among other things, court approval and a minimum
level of shareholder participation.

Under the terms of the Settlement, if consummated, AIG will pay an
aggregate of $725 million, $175 million of which is to be paid
into escrow within ten days of preliminary court approval.  AIG's
obligation to fund the remainder of the settlement amount is
conditioned on its having consummated one or more common stock
offerings raising net proceeds of at least $550 million prior to
final court approval.

AIG has agreed to use best efforts, consistent with the fiduciary
duties of AIG's management and Board of Directors, to effect a
Qualified Offering, but the decision as to whether market
conditions or pending or contemplated corporate transactions make
it commercially reasonable to proceed with such an offering will
be within AIG's unilateral discretion.  In the event that AIG
effects a registered secondary offering of common stock on behalf
of the U.S. Department of the Treasury resulting in Treasury
receiving proceeds of at least $550 million, then market access
will be deemed to have been demonstrated and AIG shall be deemed
to have consummated a Qualified Offering.

AIG, in its sole discretion, also may fund the $550 million from
other sources.  If AIG does not fund the $550 million before final
court approval of the Settlement, the plaintiffs may terminate the
agreement, elect to acquire freely transferable shares of AIG
common stock with a market value of $550 million provided AIG is
able to obtain all necessary approvals, or extend the period for
AIG to complete a Qualified Offering.

                          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: Moody's Downgrades Default Rating to 'Ca'
---------------------------------------------------------
Moody's Investors Service downgraded American Media Operations,
Inc.'s Probability of Default Rating to Ca from Caa2 following the
company's announcement that it has commenced an exchange offer for
all of its 14% Senior Subordinated Notes due 2013.  In conjunction
with the exchange announcement, Moody's put on review for possible
upgrade all other ratings given the expected decrease in debt
obligations by approximately $200 million net of expected fees and
related expenses.

Details of the rating action are:

* Probability of Default Rating -- to Ca from Caa2

Ratings under review for possible upgrade:

* Corporate Family Rating -- currently Caa2

* Senior secured revolving credit facility due 2012 -- currently
  B3, LGD2, 28%

* Senior secured term loan B due 2013 -- currently B3, LGD2, 28%

The downgrade of the PDR to Ca reflects Moody's view that American
Media's proposed offer for all of the $355.8 million outstanding
14% Senior Subordinate Notes, if successfully concluded, is an
effective distressed exchange event of default.  According to the
terms of the offering, tendering note holders will receive their
pro rata share of approximately $103 million in cash, including
consent payments, and approximately 95% of the common equity of
the company.  The transaction is a distressed exchange as it
includes a significant discount to par and reduces the existing
debt capital structure which Moody's viewed as unsustainable over
the medium term.  To record this limited default, Moody's expects
to downgrade the PDR further to a "/LD" rating upon completion of
the exchange offer scheduled to expire on August 11, 2010.

The company also commenced a cash tender offer for all of its 9%
Senior PIK Notes due 2013.  Assuming all $23.7 million of the
Senior PIK Notes are tendered the company would pay a total of
$24.2 million or 102% of outstanding amounts.

As a condition to the consummation of the transaction, the company
is required to receive a minimum of $600 million in commitments
for new funds.  Given this requirement for new financing
commitments, the company would be able to fund the $127 million
cash portion of the two offers, repay all $432 million of term
loans, as well as pay estimated fees and related expenses.

The rating review for possible upgrade on the CFR will assess the
likelihood that American Media will complete the 14% Senior
Subordinated exchange offer thereby reducing debt balances by
approximately $200 million net of estimated fees and related
expenses, and may result in multiple upgrades.  In addition, the
review will focus on the company's ability to (i) stabilize
circulation revenues and improve advertising sales, (ii) maintain
margins, (iii) remain in compliance with financial covenants under
the existing senior secured loan credit agreement or proposed
financing agreements, and (iv) improve liquidity and leverage
credit metrics despite soft, albeit improving, demand for magazine
advertising, secular declines in magazine circulation, and strong
competition within the celebrity, health and fitness publishing
segments.

The last rating action occurred on February 10, 2009, when Moody's
affirmed the company's Caa2 CFR and revised its PDR to Caa2/LD
from Ca.

American Media's ratings were assigned by evaluating factors
Moody's believe are relevant to the credit profile of the issuer,
such as i) the business risk and competitive position of the
company versus others within its industry, ii) the capital
structure and financial risk of the company, iii) the projected
financial and operating performance of the company 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 of American Media's core industry
and American Media's ratings are believed to be comparable to
those of other issuers of similar credit risk.

Headquartered in Boca Raton, Fl, the company is a leading
publisher of celebrity journals as well as health and fitness
magazines.  American Media also provides publishing services to
other publishers and arranges for the placement of owned and third
party publications with retailers.  The company reported sales of
$412 million for the fiscal year ended March 31, 2010.


ANPATH GROUP: Posts $2.9 Million Net Loss in Fiscal 2010
--------------------------------------------------------
Anpath Group, Inc., filed on July 14, 2010, its annual report for
the fiscal year ended March 31, 2010, reporting a net loss of
$2,896,411 on $428,861 of revenue for fiscal 2010, compared with a
net loss of $4,023,929 on $85,969 of revenue for fiscal 2009.

The Company's balance sheet at March 31, 2010, showed $1,375,737
in assets and $3,854,635 of liabilities, for a stockholders'
deficit of $2,478,898.

Faced with declining liquidity, upcoming interest payments, over
$2,910,000 in 2010 debt maturities, and the inability to access
the capital markets to restructure its balance sheet, the Company
pursued various strategic alternatives in late 2009 and early
2010, including seeking to extend the maturities on its debt due
in 2010, seeking to implement debt exchanges, seeking to issue new
debt for cash and/or in exchange for debt, and pursuing asset
sales.  Ultimately, the efforts to restructure outside of
Chapter 11 were unsuccessful and Anpath commenced negotiations
with its secured lender and certain noteholders.  Those
negotiations led to the formation of the consensual Plan to
restructure the Company's debt obligations, and the Company filed
for Chapter 11 on May 20, 2010, to implement its restructuring.

Anpath has proposed a plan of reorganization.  A private placement
offering in the minimum amount of $1,250,000 up to a maximum
amount of $1,500,000 will be completed as a condition of emerging
from bankruptcy.  The Offering will be sold at $.40 per share for
a minimum of 3,125,000 and a maximum of 3,750,000 common stock
shares.  A new Board will be installed at emergence from
bankruptcy.

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

               http://researcharchives.com/t/s?66a5

                       About Anpath Group

Based in Mooresville, N.C., Anpath Group, Inc. (OTC BB: ANPG)
-- http://www.anpathgroup.com/-- through its wholly-owned
subsidiary EnviroSystems, Inc., produces disinfecting, sanitizing
and cleaning products designed to help prevent the spread of
infectious microorganisms, while minimizing the harmful effects to
people, application surfaces and the environment.

The Company filed for Chapter 11 bankruptcy protection on May 20,
2010 (Bankr. D. Del. Case No. 10-11652).  Mark E. Felger, Esq., at
Cozen O'Connor, assists the Company in its restructuring effort.
The Company listed $1,548,646 in assets and $3,536,825 in
liabilities.


ANV SECURITY: Lack of Revenue Activities Cue Going Concern Doubt
----------------------------------------------------------------
ANV Security Group, Inc., filed on July 16, 2010, its annual
report on Form 10-K for the fiscal year ended March 31, 2010.

Stan J.H. Lee, CPA, in Fort Lee, N.J., expressed substantial doubt
about the Company's ability to continue as a going concern.  The
independent public accounting firm noted that of the Company's
lack of revenue activities and losses from operations.

The Company reported a net loss of $369,579 on $15,717 of revenue
for fiscal 2010, compared with a net loss of $350,455 on $20,820
of revenue for fiscal 2009.

The Company's balance sheet at March 31, 2010, showed $1,521,893
in assets, $45,491 of liabilities, and $1,476,402 of stockholders'
equity.

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

               http://researcharchives.com/t/s?66a8

Shenzhen, China-based ANV Security Group, Inc. was originally
called "B.G. S. Energy, Inc." and was incorporated under the laws
of the State of Nevada on May 29, 1981.  The Company designs,
manufactures, assembles and markets advanced and professional
security systems that include H.264 IP Camera and DVS series, NVS
Center Management System and high-end network DVR.


ATLANTIC COAST: U.S. Trustee Unable to Form Creditors Committee
---------------------------------------------------------------
The Office of the U.S. Trustee for Region 21 notified the
Bankruptcy Court for the Southern District of Florida that until
further notice, it will appoint an official committee of unsecured
creditors in the Chapter 11 case of Atlantic Coast Paladin Shores,
LLC.

Sebastian, Florida-based Atlantic Coast Paladin Shores, LLC, filed
for Chapter 11 bankruptcy protection on March 2, 2010 (Bankr. S.D.
Fla. Case No. 10-15275).  Martin Werner, Esq., who has an office
in Boca Raton, Florida, assists the Company in its restructuring
effort.


AVIS BUDGET: Launches Exchange Offer for 9-5/8% Senior Notes
------------------------------------------------------------
Avis Budget Car Rental, LLC, and Avis Budget Finance, Inc., are
launching an exchange offer for outstanding 9-5/8% Senior Notes
due 2018, in the aggregate principal amount of $450,000,000, for
up to $450,000,000 in aggregate principal amount of 9-5/8% Senior
Notes due 2018 which have been registered under the Securities Act
of 1933, as amended.

Terms of the Exchange Offer:

     -- Expires 5:00 p.m., New York City time, August 12, 2010,
        unless extended.

     -- Not subject to any condition other than that the exchange
        offer does not violate applicable law or any
        interpretation of the staff of the Securities and Exchange
        Commission.

     -- The Company will not receive any proceeds from the
        exchange offer.

     -- The exchange of Old Notes for the Exchange Notes should
        not be a taxable exchange for United States federal income
        tax purposes.

Terms of the Exchange Notes:

     -- The Exchange Notes will be Avis' senior unsecured
        obligations, will rank equally with all of Avis' existing
        and future senior unsecured debt and will be senior to all
        of its existing and future subordinated debt.

     -- The Exchange Notes will mature on March 15, 2018. The
        Exchange Notes will bear interest semi-annually in cash in
        arrears on March 15 and September 15 of each year,
        beginning on September 15, 2010.

     -- Avis may redeem the Exchange Notes in whole or in part
        from time to time.

     -- Upon a change of control, Avis may be required to offer to
        repurchase the Exchange Notes.

     -- The terms of the Exchange Notes are substantially
        identical to those of the outstanding Old Notes, except
        the transfer restrictions, registration rights and
        additional interest provisions relating to the Old Notes
        do not apply to the Exchange Notes.

A full-text copy of the prospectus is available at no charge at
http://ResearchArchives.com/t/s?66b1

                       About Avis Budget Group

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

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

                           *     *     *

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


B4 CATTLE: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: B4 Cattle Company, Inc.
        2792 Gold Road
        Lewisburg, TN 37091

Bankruptcy Case No.: 10-07388

Chapter 11 Petition Date: July 15, 2010

Court: United States Bankruptcy Court
       Middle District of Tennessee (Columbia)

Judge: Marian F. Harrison

Debtor's Counsel: Steven L. Lefkovitz, Esq.
                  Law Offices Lefkovitz & Lefkovitz
                  618 Church St., Suite 410
                  Nashville, TN 37219
                  Tel: (615) 256-8300
                  Fax: (615) 255-4516
                  E-mail: slefkovitz@lefkovitz.com

Scheduled Assets: $1,697,505

Scheduled Debts: $2,104,839

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/tnmb10-07388.pdf

The petition was signed by Bert Smith, president.


BAY CITI: Voluntary Chapter 11 Case Summary
-------------------------------------------
Debtor: Bay Citi Properties II DE, LLC
        2099 Market St
        San Francisco, CA 94114

Bankruptcy Case No.: 10-32662

Chapter 11 Petition Date: July 15, 2010

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

Judge: Thomas E. Carlson

Debtor's Counsel: John H. MacConaghy, Esq.
                  MacConaghy and Barnier
                  645 1st St. W #D
                  Sonoma, CA 95476
                  Tel: (707) 935-3205
                  E-mail: macclaw@macbarlaw.com

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

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

The petition was signed by Edward C. Singer, Jr., authorized
agent.

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

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                  Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Civic Properties DE, LLC               10-_____   __/__10
621 Stockton DE, LLC                   10-32661
  Assets: $10,000,001 to $50,000,000
  Debts: $10,000,001 to $50,000,000
LRL Citigroup Properties II DE, LLC    10-_____   __/__10
Herman Street DE, LLC                  10-30413   __/__10
LRL Citi Properties I DE, LLC          10-30414   __/__10
Trophy Properties I DE, LLC            10-30415   __/__10
Sutter Associates DE, LLC              10-30416   __/__10


BAYVIEW HOLDINGS: Files Plan; Disc. Statement Hearing on Sept. 14
-----------------------------------------------------------------
The Hon. Ross W. Krumm of the U.S. Bankruptcy Court for the
Western District of Virginia Bayview Holdings, LLC, will consider
on September 14, 2010, at 11:00 a.m., approval of a Disclosure
Statement explaining Bayview Holdings, LLC's proposed Plan of
Reorganization.  The hearing will be held at 2nd Floor, 210
Church Ave., Roanoke, Virginia.  Objections, if any, are due on
September 7.

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

According to the Disclosure Statement, the Plan provides for the
appointment of a disbursing agent to manage and make distributions
from a distribution fund.  The Plan provides that Tom Lovegrove
will serve as the disbursing agent.

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

Class 1 Secured Claims of the Bank of Floyd - the bank will
        receive all of its principal and accrued interest, and all
        other fees and expenses that are authorized by the Bank of
        Floyd loan documents.

Class 2 Secured Claims of the County of Franklin, Virginia - all
        amounts due on each lot or parcel of real estate owned by
        the Debtor will be paid as and when the lots or parcels
        sell.  The payment will include all interest and accrued
        charges that are applicable under law.

Class 3 Unsecured Creditors of will receive a pro rata
        distribution based on each unsecured creditor's claim
        compared to the total amount of all allowed unsecured
        creditors' claims.

Class 4 Equity interests in the Debtor held by the sole member,
        Tom Lovegrove.  Mr. Lovegrove's interest in the Debtor
        will be cancelled, and because this is a liquidation Plan,
        he will not retain any ownership interest after the Plan
        is completed.

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

The Debtor is represented by:

     Bruce E. Arkema, Esq.
     Kevin J. Funk, Esq.
     Durrette Bradshaw, PLC
     Bank of America Center
     1111 E. Main Street, 16th Floor
     Richmond, VA 23219

September 14, is also fixed as the last date for an individual or
entity to file proofs of claim against the Debtor.

                    About Bayview Holdings, LLC

Moneta, Virginia-based Bayview Holdings, LLC, filed for Chapter 11
bankruptcy protection on November 2, 2009 (Bankr. W.D. Va. Case
No. 09-72799).  The Company listed $10,000,001 to $50,000,000 in
assets and $10,000,001 to $50,000,000 in liabilities.


BERT SMITH: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Bert Edgar Smith, IV
        2792 Gold Road
        Lewisburg, TN 37091

Bankruptcy Case No.: 10-07387

Chapter 11 Petition Date: July 15, 2010

Court: United States Bankruptcy Court
       Middle District of Tennessee (Columbia)

Judge: George C. Paine II

Debtor's Counsel: Steven L. Lefkovitz, Esq.
                  Law Offices Lefkovitz & Lefkovitz
                  618 Church St., Suite 410
                  Nashville, TN 37219
                  Tel: (615) 256-8300
                  Fax: (615) 255-4516
                  E-mail: slefkovitz@lefkovitz.com

Scheduled Assets: $1,542,698

Scheduled Debts: $2,100,993

A list of the Debtor's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/tnmb10-07387.pdf

The petition was signed by the Debtor.


BISCAYNE PARK: U.S. Trustee Unable to Form Creditors Committee
--------------------------------------------------------------
The Office of the U.S. Trustee for Region 21 notified the U.S.
Bankruptcy Court for the Southern District of Florida that
until further notice, it will not appoint an official committee of
unsecured creditors in the Chapter 11 case of Biscayne Park LLC.

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


BISCAYNE PARK: Joel L. Tabas Appointed Chapter 11 Examiner
----------------------------------------------------------
Donald F. Walton, the U.S. Trustee for Region 21, appointed Joel
L. Tabas as Chapter 11 examiner in the case of Biscayne Park LLC.

Mr. Tabas can be reached at:

     One Flagler Building
     14 N. E. 1st Avenue, Penthouse
     Miami, FL 33132
     Tel: (305) 375-8171

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


BISCAYNE PARK: Wants Additional 120 Days to Propose Ch. 11 Plan
---------------------------------------------------------------
Biscayne Park LLC asks the U.S. Bankruptcy Court for the
Southern District of Florida, to extend for 120 days its exclusive
period to file a Chapter 11 Plan, and 120 days for soliciting
acceptances for the proposed Plan.

Absent the extension, the Debtor's exclusive period to file a Plan
will expire on August 26, 2010.

The Debtor relates that its is in discussion with its lender and
the examiner to improve the property.

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


BLOCKBUSTER INC: Mark Wattles Retains 15.3% Stake
-------------------------------------------------
Mark J. Wattles followed up his Form 4 filing last week with a
Form SC13D filing, disclosing he beneficially owns 11,050,000
shares or 15.3% of the outstanding Class B Common Stock of
Blockbuster Inc.

Those shares are held in Wattles Capital Management, LLC, a
Delaware limited liability company, and HKW Trust, a trust
organized under the laws of the State of Nevada.  Mr. Wattles is
the sole member and manager of WCM and owns 100% of its membership
interests.  Mr. Wattles is the settler and sole trustee of the
Trust and exercises sole discretion over the Trust.

Mr. Wattles' principal occupation is serving as President of WCM,
which is primarily engaged in investing in public and private
companies in the consumer products and retail sectors.  WCM
indirectly owns a majority interest in Ultimate Acquisition
Partners, LP, a Delaware limited partnership, which owns and
operates consumer electronics retail stores under the name
Ultimate Electronics.  Mr. Wattles also serves as Chairman of UAP.
Prior to forming WCM, Mr. Wattles founded Hollywood Entertainment
Corporation, the second largest video rental and retail chain
(after Blockbuster Inc.) and the second largest video game
specialty retailer (after Game Stop Corp.), where he was Chairman
and Chief Executive Officer for more than 17 years before
Hollywood was sold for $1.25 billion to Movie Gallery, Inc. in
April 2005.  The Trust acquires, holds, manages and disposes of
assets for the benefit of a member of Mr. Wattles' family and The
Wattles Family Foundation.

As of July 13, 2010, WCM and the Trust collectively owned
6,200,000 Class A shares and 11,050,000 Class B shares, which
represents 5.1% of Blockbuster's outstanding Class A Common Stock
and 15.3% of Blockbuster's outstanding Class B Common Stock.

As reported by the Troubled Company Reporter on July 14, 2010, Mr.
Wattles continued to unload his Blockbuster Inc. Class B shares.
Mr. Wattles sold 500,000 Class B shares on July 8 and 9, 2010,
getting:

    -- between $0.080 and $0.084 a share for those sold July 8;
       and

    -- between $0.085 and $0.090 a share for those sold July 9.

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

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

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

                     About Blockbuster Inc.

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

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

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

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


BLOUNT INC: S&P Assigns 'BB-' Rating on $425 Mil. Senior Notes
--------------------------------------------------------------
Standard & Poor's Ratings Services said it has assigned its 'BB-'
issue-level rating to Blount Inc.'s proposed $425 million senior
secured credit facility.  S&P assigned a recovery rating of '3' to
this debt.  At the same time, S&P affirmed its 'BB-' corporate
credit rating on the company.  The outlook is stable.

The affirmation follows the company's announcement that it will
amend its credit facility and thereby increase availability under
its revolving line of credit and extend debt maturities.

"S&P would view completion of the amendment as a favorable
development related to Blount's liquidity profile," said Standard
& Poor's credit analyst Dan Picciotto.  "During the past few
quarters, credit measures have been improving as the general
economy has stabilized, and the company's credit measures have
remained in line with S&P's expectations for the rating," he
continued.

The ratings on Portland, Ore.-based Blount (a wholly owned
subsidiary of unrated Blount International Inc.) reflect the
company's aggressively leveraged financial risk profile and its
weak business risk profile, which result from limited product
diversity and exposure to cyclical end markets.  Blount's
significant share of replacement product sales, solid market
shares, and diversified customer base somewhat offset these
factors.

Blount is a specialty manufacturer and marketer of a variety of
products, including saw chains and other cutting-related products,
primarily for the forest products and construction sectors.

Blount's competitive strengths include its leading market shares
and brand image, particularly under the "Oregon Cutting Systems"
name.  These factors enable the company to garner a large share of
the market for replacement parts.  Other business strengths are
its good customer mix and geographic diversity.

The outlook is stable.  Blount's credit measures remain within
S&P's range of expectations, and the company appears likely to
benefit from a slowly improving operating environment this year.

S&P could lower the ratings if the company cannot maintain FFO to
total debt of about 15% for a prolonged period and if debt to
EBITDA rises to more than 4x.  For instance, the combination of a
weak market and competitive pressures that cause revenue to
decline by about 15% from trailing-12-month levels, operating
margin (before D&A) to deteriorate to about 18%, and a failure to
reduce debt could strain credit measures.

A positive rating action is unlikely at this time and would likely
require that S&P has a more favorable assessment of the company's
business risk profile or that the company pursues a significantly
more conservative financial policy.


BP PLC: Asks Shareholders About Possible Restructuring
------------------------------------------------------
The Sunday Times newspaper in London reports that BP Plc is asking
shareholders about a restructuring in the wake of its Gulf of
Mexico oil spill.  The Sunday Times cited unnamed BP insiders.

According to The Sunday Times, BP's options include:

     -- selling its refineries and petrol stations,
     -- scaling back its U.S. operations, and
     -- ramping-up in-house engineering instead of outsourcing.

BP Plc is seeking to sell half its stake in Alaska's Prudhoe Bay
oil field to Apache Corp.  Bloomberg's Jeffrey McCracken and
Stanley Reed report that a person with knowledge of the matter
said that deal has been stalled twice over the weekend, raising
doubts about whether the deal will be completed.

Two people familiar with the matter, according to Bloomberg, said
the companies last week were on track to clinch an agreement for
Apache to buy half of BP's Prudhoe stake for between $10 billion
and $11 billion in an all-cash transaction.

A source told Bloomberg talks between BP and Apache faltered late
in the evening on July 16 before resuming Saturday.  They hit a
snag again early Sunday over issues ranging from the valuation of
the deal to how current and future legal liabilities will be
addressed.  BP, Apache and their advisers began speaking again
Monday, the source said.

As reported by the TCR on June 17, 2010, BP reached an agreement
with the Obama administration to allocate $20 billion to cover
Gulf of Mexico oil spill claims.  Liabilities aren't capped at $20
billion.

The TCR on July 2 said experts looking at a hypothetical
bankruptcy filing by BP on an ABI media teleconference on June 29
said that BP has several options to explore in dealing with the
worst environment disaster in U.S. history, but the oil giant may
consider bankruptcy if it faces a never-ending flow of claims.

The Houston Chronicle's Tom Fowler said early last month that BP
had dismissed talk that it might seek Chapter 11 bankruptcy
protection in the face of falling stock prices and threats from
government officials to force the oil giant to pay more in costs
related to the massive Gulf of Mexico oil spill.  "We
categorically deny that we have taken advice on Chapter 11
proceedings," a company spokesman told the Chronicle, according to
Mr. Fowler.

                           About BP Plc

BP Plc -- http://www.bp.com/-- is one of the world's largest
energy companies, providing its customers with fuel for
transportation, energy for heat and light, retail services and
petrochemicals products for everyday items.

Bloomberg's Businessweek notes BP represents 5.6% of the FTSE 100
Index, the second biggest weighting of the top U.K.-listed
companies behind London-based bank HSBC Holdings Plc.  BP also
represents the biggest portion of the FTSE 350 Oil & Gas Producers
Index at 31%, and the MSCI EAFE/Energy Index at 16%.


BROWN PUBLISHING: Creditors Commences Suit on Lenders
-----------------------------------------------------
Bill Rochelle at Bloomberg News reports that the Official
Committee of Unsecured Creditors of Brown Publishing Co. has
commenced an adversary proceeding against lenders, contending that
$72 million in liens given in September 2007 were fraudulent
transfers that can be voided in bankruptcy.

The Bloomberg report relates that, according to the Committee,
Brown's subsidiaries in substance gave guarantees of pre-existing
debt owing by sister companies.  Because the debt wasn't
originally their obligation and they received no proceeds from the
loan, the Committee contends the loan was a voidable transfer as
to some of the subsidiaries that were made insolvent.

On July 12, the Committee filed a motion asking the bankruptcy
judge to prohibit the lenders from making a credit bid at an
auction for the Debtor's assets.  The Debtor has selected Brown
Media Corporation, a company formed by insiders, as the stalking
horse bidder.  The Debtor has entered into an Asset Purchase
Agreement dated May 4, 2010, with Brown Media, which provides for
the sale of the assets, subject to any higher and better offers
that might be submitted for the sale of the assets to the party or
parties that submit the highest and best bid.  Under the APA,
Brown Media will purchase the assets at $15,300,000.

An auction was to take place 10 a.m. Monday, July 19, in New York,
New York, through the U.S. Bankruptcy Court if a bid in addition
to Brown Media's is submitted by July 16.  A sale hearing is set
for July 22, 2020, if an auction is necessary.  Objections to the
sale are due July 20, 2010.

                  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.


CABLEVISION SYSTEMS: GAMCO Holds 4.11% of NY Group Class A Shares
-----------------------------------------------------------------
GGCP, Inc., GGCP Holdings LLC, GAMCO Investors, Inc., Gabelli
Funds, LLC, GAMCO Asset Management Inc., Teton Advisors, Inc.,
Gabelli Securities, Inc., Gabelli & Company, Inc., MJG Associates,
Inc., Gabelli Foundation, Inc., MJG-IV Limited Partnership and
Mario Gabelli disclosed that as of July 13, 2010, they may be
deemed to beneficially own in the aggregate 10,329,687 shares or
roughly 4.11% of the Cablevision NY Group Class A Common Stock of
Cablevision Systems Corporation.

So far this month, GAMCO et al., have sold 45,645 Cablevision NY
Group Class A Shares.

                    About Cablevision Systems

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

At March 31, 2010, Cablevision Systems had $7,364,192,000 in total
assets against $13,565,731,000 in total liabilities, $12,540,000
in redeemable non-controlling interests, and $671,000 in Non-
controlling interest, resulting in total deficiency of
$6,214,079,000.

                          *     *     *

According to the Troubled Company Reporter on June 16, 2010,
Moody's Investors Service said that its ratings for Cablevision
Systems Corporation and related rated subsidiaries (including CSC
Holdings, Inc., Rainbow National Services LLC and Newsday LLC)
should not be affected by the company's announcements that it
plans to (i) acquire the assets of Bresnan Communications in a
leveraging transaction valued at $1.365 billion, and (ii) initiate
a share repurchase program totaling $500 million.  "Although the
company is paying a healthy premium for an already well-run
collection assets, and may have postponed a prospective upgrade of
its ratings by undertaking the share buyback program at the same
time, strong operating performance continues to bode well for
further credit enhancements over the next two years," noted
Moody's Senior Vice President Russell Solomon.


CANWEST GLOBAL: Canada Creditors OK Restated Plan of Compromise
---------------------------------------------------------------
Canwest Global Communications Corp. disclosed that affected
creditors of Canwest, Canwest Media Inc. and certain of its
subsidiaries have overwhelmingly approved a restated consolidated
plan of compromise, arrangement and reorganization pursuant to the
Companies' Creditors Arrangement Act (Canada) and the Canada
Business Corporations Act.

The CMI Plan Entities are scheduled to seek approval of the Plan
through a Sanction and Vesting Order of the Ontario Superior Court
of Justice on July 28, 2010.  Should the Court approve the Plan,
the CMI Plan Entities will proceed with the implementation of the
Plan following the receipt of all required regulatory approvals.

At the meetings of affected creditors today, FTI Consulting Canada
Inc., in its capacity as the Court-appointed monitor reported
that:

(a) The holders of CMI's 8% senior subordinated notes due 2012
    who provided instructions for voting or otherwise validly
    voted, registered 100% (in both number and value) in favour of
    the resolution approving the Plan, and

(b) The CMI Plan Entities' ordinary creditors and convenience
    class creditors who voted in person or by proxy registered in
    excess of 99% (in both number and value) in favour of the
    resolution approving the Plan.

To be approved, the Plan must be supported by at least a majority
by number of affected creditors of the CMI Plan Entities with
proven voting claims and represent at least two-thirds in value of
the proven voting claims of (a) the beneficial Noteholders that
provided instructions for voting or otherwise validly voted at the
Noteholders' meeting, and (b) the ordinary creditors and
convenience class creditors that validly voted in person or by
proxy at the ordinary creditors' meeting. Based on the voting
results at the meetings, the Company has achieved these required
majorities.

A copy of the Plan is available on the Monitor's website
at http://cfcanada.fticonsulting.com/cmi

More information about the restructuring can be found on the
Company's website at http://www.canwest.com and on the Monitor's
website at http://cfcanada.fticonsulting.com/cmi

                     About Canwest Global

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

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

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


CAPMARK FINANCIAL: Creditors Investigating $1.5-Bil. Loan
---------------------------------------------------------
Capmark Financial Group Inc. agreed that the Official Committee of
Unsecured Creditors can examine the Company's files as part of an
investigation into a $1.5 billion secured loan made 149 days
before the Chapter 11 filing in October.  The Committee believes
loan proceeds were used to pay off unsecured debt owing to
practically the same lenders.  The Company agreed to begin
producing document by Aug. 2 about the loan and alternatives the
Company considered.  The Committee reserved the right to demand
documents from directors who weren't company employees.

                      About Capmark Financial

Based in Horsham, Pennsylvania, Capmark Financial Group Inc. --
http://www.capmark.com/-- is a diversified company that provides
a broad range of financial services to investors in commercial
real estate-related assets.  Capmark has three core businesses:
lending and mortgage banking, investments and funds management,
and servicing.  Capmark operates in North America, Europe and
Asia.  Capmark has 1,000 employees located in 37 offices
worldwide.

On October 25, 2009, Capmark Financial Group Inc. and certain of
its subsidiaries filed voluntary petitions for relief under
Chapter 11 (Bankr. D. Del. Case No. 09-13684)

Capmark's financial advisors are Lazard Freres & Co. LLC and
Loughlin Meghji + Company. Capmark's bankruptcy counsel is Dewey &
LeBoeuf LLP.  Richards, Layton & Finger, P.A., serves as local
counsel.  Beekman Advisors, Inc., is serving as strategic advisor.
KPMG LLP is tax and accounting advisor.  Epiq Bankruptcy
Solutions, LLC, is the claims and notice agent.

Capmark has total assets of US$20 billion against total debts of
US$21 billion as of June 30, 2009.

Since filing in Chapter 11, Capmark completed three sales to
generate more than $1 billion cash. Berkshire Hathaway Inc. and
Leucadia National Corp. bought most of the business for
$468 million.

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


CASELLA WASTE: S&P Affirms Corporate Credit Rating at 'B+'
----------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'B+'
corporate credit rating on Rutland, Vermont-based Casella Waste
Systems Inc. and revised the outlook to stable from negative.

"The ratings affirmation and outlook revision reflect Casella's
improving profitability and gains in solid waste collection and
recycling volumes, along with S&P's belief that management will
continue to make progress with its goal of reducing debt," said
Standard & Poor's credit analyst James Siahaan.

At the company's fiscal year end of April 30, 2010, Casella had
approximately $713 million of debt.  S&P's debt balances are
adjusted to include effects related to the capitalization of
operating leases, asset retirement obligations, self-insurance
reserves, and accrued interest.

The ratings on Casella reflect a highly leveraged financial risk
profile marked by high debt balances and minimal free cash
generation.  Casella's fair business risk profile reflects the
company's participation in an industry with favorable
characteristics, its competitive market positions in its regions,
and consistent profitability, despite the somewhat modest scale of
the company's operations.


CELL THERAPEUTICS: Officers & Directors Acquire Restricted Shares
-----------------------------------------------------------------
Cell Therapeutics Inc. CEO James A. Bianco disclosed acquiring
9,966,610 shares on July 12, 2010, raising his stake to 13,672,638
shares.  Mr. Bianco directly holds those shares.  He also
indirectly holds 20 shares through his wife and 2 shares through
his wife as custodian.

Director John H. Bauer disclosed acquiring 996,661 shares of
common stock on July 12, 2010, raising his stake to 1,784,808
shares.

Director Vartan Gregorian disclosed acquiring 996,661 shares of
common stock on July 12, 2010, raising his stake to 1,889,933
shares.

Louis A. Bianco, EVP-Finance & Administration, disclosed acquiring
4,041,827 shares, raising his stake to 6,068,249 shares.  He
directly holds those shares.  He also indirectly holds 1,118
shares in trust for his children.

Director Richard L. Love disclosed acquiring 996,661 shares of
common stock on July 12, 2010, raising his stake to 2,432,773
shares.

Daniel G. Eramian, EVP-Corporate Communications, disclosed
acquiring 2,989,983 shares of common stock on July 12, 2010,
raising his stake to 4,674,899 shares.

Director Mary O'Neil Mundinger disclosed acquiring 996,661 shares
of common stock on July 12, 2010, raising her stake to 1,849,849
shares.

Director Phillip M. Nudelman, Ph.D., disclosed acquiring 1,498,559
shares of common stock on July 12, 2010, raising his stake to
2,534,865 shares.

President Craig Philips disclosed acquiring 5,979,967 shares of
common stock on July 12, 2010, raising his stake to 9,308,206
shares.

Director Fred Telling disclosed acquiring 996,661 shares of common
stock on July 12, 2010, raising his stake to 1,783,923 shares.

Director and chief medical officer Jack W. Singer disclosed
acquiring 4,041,827 shares of common stock on July 12, 2010,
raising his stake to 6,076,827 shares.

As disclosed by CTIC in its proxy statement filed with the SEC on
April 9, 2010, in December 2009 CTIC granted a bonus opportunity
to officers and directors that was payable in shares of CTIC stock
upon the achievement of certain performance goals before
December 31, 2011.  CTIC has converted a portion of this bonus
opportunity into an award of performance-based restricted stock.
The shares acquired on July 12 reflect the grant of replacement
performance-based restricted stock award that is subject to the
same vesting requirements and forfeiture conditions as the
corresponding portion of the officers and directors' December 2009
restricted stock unit award.

                     About Cell Therapeutics

Headquartered in Seattle, Washington, Cell Therapeutics, Inc.
(NASDAQ and MTA: CTIC) -- http://www.CellTherapeutics.com/-- is a
biopharmaceutical company that develops an integrated portfolio of
oncology products aimed at making cancer more treatable.
Subsequent to the closure of its Bresso, Italy operations in
September 2009, CTI's operations are conducted solely in the
United States.

At March 31, 2010, the Company had $75,531,000 total assets and
$85,243,000 in total liabilities.

                       Going Concern Doubt

San Francisco-based Stonefield Josephson, Inc., has included an
explanatory paragraph in their report on Cell Therapeutics, Inc.'s
December 31, 2009, 2008 and 2007 consolidated financial statements
regarding their substantial doubt as to the Company's ability to
continue as a going concern.  The independent auditors reported
that the Company has sustained loss from operations over the audit
periods, incurred an accumulated deficit, and has substantial
monetary liabilities in excess of monetary assets as of
December 31, 2009.

                      Bankruptcy Warning

In its Form 10-Q report for the period ended September 30, 2009,
filed with the Securities and Exchange Commission, the Company
warned it does not expect it will have sufficient cash to fund
planned operations through the second quarter of 2010, which
raises substantial doubt about its ability to continue as a going
concern.  The Company said if it fails to obtain capital when
required, the Company said it may be required to delay, scale
back, or eliminate some or all of its research and development
programs and may be forced to cease operations, liquidate its
assets and possibly seek bankruptcy protection.


CENTERPLATE INC: Moody's Assigns 'B3' Corporate Family Rating
-------------------------------------------------------------
Moody's assigned a B3 Corporate Family Rating and B3 Probability
of Default Rating to Centerplate, Inc. in connection with a
proposed refinancing transaction by its wholly-owned subsidiary,
Volume Services America, Inc, and certain subsidiary co-borrowers.
Moody's also assigned a B3 rating to a $50 million Term Loan A
facility, a $194 million Term Loan B facility, a $50 million
revolving credit facility and a $20 million synthetic letter of
credit facility.  The proceeds from the term loan facilities are
expected to be used to refinance existing secured debt, pay an
approximately $50 million dividend to shareholders, fund a
$16 million acquisition and pay related fees and expenses.  The
$50 million first lien revolver is expected to have about
$40 million of availability at closing.  The rating outlook is
stable.

The B3 Corporate Family Rating is constrained by a track record of
declining EBITDA and negative free cash flow from 2006 through
2009, dependence on the cyclical sports and convention center
businesses for the majority of profitability and risks related to
the recently completed acquisition of Boston Culinary Group.  The
ratings are supported by the current management team's focus on
acquiring profitable and less capital intensive accounts,
implemented cost reduction initiatives, moderate pro forma
leverage and improved end market diversification through the BCG
acquisition.

Moody's assigned these ratings (assessments):

Volume Services America, Inc.

* $50 million 5 year senior secured revolving credit facility, B3
  (LGD 3, 47%)

* $20 million 5 year senior secured synthetic letter of credit
  facility, B3 (LGD 3, 47%)

* $50 million 5 year senior secured Term Loan A facility, B3 (LGD
  3, 47%)

* $194 million 6 year senior secured Term Loan B facility, B3 (LGD
  3, 47%)

Centerplate, Inc.

* Corporate Family Rating, B3
* Probability of Default Rating, B3

The ratings are subject to review of the final documentation.

Centerplate is in the business of providing concession services,
including catering and novelty merchandise items at stadiums,
sports arenas, convention centers and other entertainment
facilities at various locations in the US and Canada.  On a pro
forma basis for the acquisition of BCG, 2009 combined revenues
were approximately $780 million.  Centerplate is controlled by the
private equity sponsor Kohlberg & Company, LLC.


CFRI/GREENLAW DYER: Section 341(a) Meeting Scheduled for Aug. 11
----------------------------------------------------------------
The U.S. Trustee for Region 16 will convene a meeting of
CFRI/Greenlaw Dyer Road, LLC's creditors on August 11, 2010, at
11:00 a.m.  The meeting will be held at RM 1-159, 411 W Fourth
Street, Santa Ana, CA 92701.

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

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

Santa Ana, California-based CFRI/Greenlaw Dyer Road, LLC, filed
for Chapter 11 bankruptcy protection on July 8, 2010 (Bankr. C.D.
Calif. Case No. 10-19345).  David B. Shemano, Esq., who has an
office in Los Angeles, California, assists the Company in its
restructuring effort.  The Company listed $30,101,904 in assets
and $33,610,022 in liabilities.


CHINA ARCHITECTURAL: Receives Extended Waiver from Bondholders
--------------------------------------------------------------
China Architectural Engineering, Inc., has received an extension
of the waiver agreement from its bondholders for the Company's
proposed acquisition of a majority stake in Shanghai ConnGame
Network Co. Ltd.

Under the extended waiver agreement, the Company is able to move
forward with its proposed acquisition of a 60% equity interest of
ConnGame for the issuance of the 25 million CAEI shares, subject
to compliance with the terms and conditions of the waiver.  In the
waiver, the Company agreed that it would pay to The Royal Bank of
Scotland N.V., London Branch and CITIC Capital China Mezzanine
Fund Limited all outstanding interest in arrears on the bonds,
plus all other applicable interest up until the payment date,
within 30 days after the closing of the ConnGame acquisition and
issuance of the shares, but no later than September 30, 2010.  The
Company has also agreed to pay all unsettled amounts of an
overdraft facility, which include all outstanding principal and
interest amounts.

The Company also announced that it has filed its definitive
information statement with the Securities and Exchange Commission
and intends to mail out the information statement to its
shareholders in this week.  CAE intends to close the ConnGame
acquisition after 20 calendar days of the mailing in accordance
with federal proxy rules.

The proposed acquisition of ConnGame is subject to a number of
closing conditions, including but not limited to the bondholders'
continued waiver of their rights to a reduction in the conversion
price of the Company's outstanding convertible bonds and exercise
price of the related warrants as a result of the proposed
acquisition and execution of a definitive acquisition agreement
for the proposed acquisition.

Mr. Ken Yi Luo, the Company's Chief Executive Officer and
Chairman, commented, "We are pleased to have received an extended
waiver from our bondholders, providing CAE time to complete the
final documentation of our ConnGame acquisition.  We appreciate
the support of our bondholders and look forward to the completion
of the ConnGame acquisition in the near future.  We believe that
the dedicated efforts of our management team will drive the
company's growth and reward our shareholders in the long run."

                   About China Architectural

China Architectural Engineering, Inc. is a provider of design,
engineering, fabrication and installation services of high-end
curtain wall systems, roofing systems, steel construction systems,
and eco-energy systems.  Founded in 1992, CAEI has maintained its
market leadership by providing timely, high-quality, reliable,
fully integrated, and cost-effective solutions.  Collaborating
with world-renowned architects and building engineers, the Company
has successfully completed over one hundred large, complex and
unique projects worldwide, including numerous award-winning
landmarks across Asia's major cities.


CIMINO BROKERAGE: Plan Confirmation Hearing Set for July 29
-----------------------------------------------------------
The Hon. Arthur S. Weissbrodt of the U.S. Bankruptcy Court for the
Northern District of California a Disclosure Statement will
consider on July 29, 2010, at 8:30 a.m., the confirmation of
Cimino Brokerage Company's proposed Plan of Reorganization,
amended as of June 16.  Objections, if any, are due on July 16.

The deadline for ballots is also fixed at 5:00 p.m. on July 16.

As reported on the Troubled Company Reporter on June 14, according
to the amended Disclosure Statement, the Plan provides for the
continuation of the Debtor's business operations for the benefit
of all creditors.  The Debtor proposes to make payments to
creditors over a period of 5 years from the effective date from
business operations.

Additionally, a new value contribution in the amount of $350,000
will be provided to the Debtor by an entity to be formed by one or
more of the Debtor's general partners (Armand Cimino, Stephanie
Cimino and Vince Cimino.)  $250,000 of the new value contribution
will be allocated to administrative expense claims, with $100,000
to be available as an initial payment to general unsecured
creditors.

The status of the Reorganized Debtor entity will also be changed
from a general partnership to a limited liability company, with
100% equity interest in the Reorganized Debtor to be issued to the
Contributor.

A full-text copy of the amended Disclosure Statement is available
for free at http://bankrupt.com/misc/CIMINOBROKERAGE_2ndADS.pdf

                      About Cimino Brokerage

Salinas, California-based Cimino Brokerage Company, a California
general partnership -- aka Cimino Brothers Produce and dba Cimino
Brothers Produce -- was founded over 15 years ago by the Cimino
family, which has been in the agricultural business since 1895.
The Debtor is currently owned 50% by Vincent Cimino, 25% by Armand
Cimino and 25% by Stephanie Cimino.  The Company is a year-round
grower, shipper and distributor of fresh vegetables and
fruits, primarily broccoli.  The Company, through its Mexican
wholly-owned subsidiary (Cimino Brothers Produce Mexico S.A. de
C.V. is the creator of the Asian Cut Crown broccoli category, and
has developed the largest national network of Asian foodservice
distributors and customers in the nation.  The Company's
administrative operations are carried out from its facilities in
Salinas, California.  The Company's primary cooling facilities in
the United States are located in Laredo, Texas.

The Company filed for Chapter 11 bankruptcy protection on
November 24, 2009 (Bankr. N.D. Calif. Case No. 09-60291).  Levene,
Neale, Bender, Rankin & Brill L.L.P. assists the Debtors in their
restructuring efforts.  The Company listed $10,000,001 to
$50,000,000 in assets and $10,000,001 to $50,000,000 in
liabilities.


CIRCUIT CITY: Has Buyer for Corp. Headquarters Lot
--------------------------------------------------
Bill Rochelle at Bloomberg News reports that Circuit City Stores
Inc. has a $2.75 million offer for the sale of land in the Deep
Run Business Park in Richmond, Virginia, where the corporate
headquarters was located.  The property being sold doesn't include
the building.

According to the report, other bids are due by July 27.  An
auction will take place July 29, followed by a hearing to approve
the sale on Aug. 4.

                      About Circuit City

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

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

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

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

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

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


CISTERA NETWORKS: Robison Hill Raises Going Concern Doubt
---------------------------------------------------------
Cistera Networks, Inc., filed on July 14, 2010, its annual report
on Form 10-K for the fiscal year ended March 31, 2010.

Robison, Hill & Co., in Salt Lake City, Utah, expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that the Company
has suffered recurring losses from operations and has a net
capital deficiency.

The Company reported a net loss of $339,257 on $2,294,210 of
revenue for fiscal 2010, compared to a net loss of $4,628,117 on
$3,714,272 of revenue for fiscal 2009.

The Company's balance sheet at March 31, 2010, showed $2,047,129
in assets and $4,049,648 of liabilities, for a stockholders'
deficit of $2,002,519.

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

               http://researcharchives.com/t/s?66aa

                     About Cistera Networks

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


CITIGROUP INC: Earns $2.7 Billion for Second Quarter 2010
---------------------------------------------------------
Citigroup Inc. reported second quarter 2010 net income of
$2.7 billion or $0.09 per diluted share, on revenues of
$22.1 billion, marking a second consecutive profitable quarter.
Citigroup earned $7.1 billion of net income in the first six
months of 2010.

Revenues declined $3.4 billion and net income was down
$1.7 billion from the first quarter of 2010, largely as a result
of lower Securities and Banking and Special Asset Pool revenues.
Other core businesses showed consistent strength, including
Transaction Services with $929 million in net income and
sequential revenue growth across all international regions.

Provisions for credit losses and for benefits and claims declined
$2.0 billion sequentially to $6.7 billion, the lowest level since
the third quarter of 2007, reflecting continued improvement in
credit quality.  This helped increase Regional Consumer Banking's
net income by 16% sequentially to $1.2 billion.

Although Citigroup maintained expense discipline, expenses were up
3% sequentially, reflecting the impact of the U.K. bonus tax.

"I am pleased that we have produced solid operating results for
the second consecutive quarter," said Vikram Pandit, Chief
Executive Officer of Citi.  "We continue to execute our strategy
of serving clients with our unique global footprint in both the
developed and emerging markets.  Most importantly, Citi's quarter-
million people around the world are working tirelessly for our
clients and shareholders.

"While the market environment lowered revenues in Securities and
Banking, credit improved for the fourth consecutive quarter.  We
saw growth internationally, particularly in Transaction Services
and Regional Consumer Banking in Latin America and Asia.  We
continue to reduce the size of Citi Holdings, and it now makes up
less than a quarter of Citigroup's balance sheet," added Mr.
Pandit.

Citigroup has been focusing on its core businesses in Citicorp --
Securities and Banking, Transaction Services and Regional Consumer
Banking -- while continuing to divest non-core businesses in Citi
Holdings.  In the second quarter of 2010, Citicorp earned
$3.8 billion while Citi Holdings had a loss of $1.2 billion.  Citi
Holdings reduced its assets by $38 billion in the second quarter
and by a total of $362 billion since the peak in the first quarter
of 2008, for a 44% reduction.  Citi Holdings now represents less
than 25% of Citigroup's assets compared to 38% at its peak.

Citigroup continues to increase its financial strength and is one
of the best capitalized banks in the world, as indicated by $122.9
billion in Tier 1 Capital and a Tier 1 Common ratio of 9.7%.  In
addition, it has common equity of $154.5 billion and $46.2 billion
in loan loss reserves.

"Although economic conditions remain challenging and global
regulatory frameworks are uncertain, we believe these results
demonstrate that the difficult decisions made by our management
team have put in place all the elements for sustained
profitability," concluded Mr. Pandit.

                       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.


COMPLIANCE SYSTEMS: Agile Opportunity Fund Holds 9.9% of Shares
---------------------------------------------------------------
Melville, New York-based Agile Opportunity Fund, LLC, disclosed in
a regulatory filing that as of July 1, 2010, it may be deemed to
beneficially own 29,060,245 shares or roughly 9.9% of the common
stock of Compliance Systems Corporation.

As reported by the Troubled Company Reporter, Compliance Systems
sold and issued to Agile Opportunity Fund a Secured Convertible
Debenture in the original principal amount of $175,000 pursuant to
the Omnibus Amendment and Securities Purchase Agreement, dated as
of July 1, 2010, between the Corporation and Agile.  The July 2010
Omnibus Amendment and Agreement further provides that, upon the
exercise of the rights granted to Agile in Section 1 thereof, the
Corporation shall sell and issue to Agile a second Secured
Convertible Debenture in the principal amount of $125,000.

The Agile July 2010 Debenture matures on June 30, 2011 and is to
bear interest at the rate of 20% per annum.  The Corporation
further agreed that, in addition to the interest due under the
Agile July 2010 Debenture, Agile shall be entitled to an
additional payment, on the July 2010 Debenture Maturity Date, such
that Agile's annualized rate of return on such principal payment
shall be equal to 30%.  The Corporation was required to pre-pay
all interest on the Agile July 2010 Debenture accruing through
September 30, 2010.  Payments of interest accruing pursuant to the
Agile July 2010 Debenture after September 30, 2010 shall be due
and payable on a monthly basis beginning on October 31, 2010.

The Agile August 2010 Debenture matures on August 30, 2011, and is
to bear interest at the rate of 20% per annum.

In connection with the sale and issuance of the Agile July 2010
Debenture, the Corporation issued to Agile 6,000,000 shares of the
common stock, par value $0.001 per share of the Corporation.

The principal and all accrued and unpaid interest under the Agile
2010 Debentures is, at the option of Agile, convertible into
shares of Common Stock at a per-share conversion price equal to
the closing trading price of the Common Stock on the conversion
date but in no event less than $0.001 per share.

The Corporation's obligations under the Agile 2010 Debentures are
secured by all of the assets of the Corporation.

                     About Compliance Systems

Headquartered in Glen Cove, New York, Compliance Systems
Corporation operates its principal businesses through two of its
subsidiaries, Call Compliance, Inc., and Execuserve Corp.

Call Compliance helps telemarketing operators ensure compliance in
the highly regulated, strictly enforced Do-Not-Call and other
telemarketing guidelines environment.  Execuserve provides
organizations, who are hiring employees, with tests and other
evaluation tools and services to assess and compare job
candidates.

The Company's balance sheet at March 31, 2010, showed $1,715,885
in assets and $4,207,631 of liabilities, for a stockholders'
deficit of $2,491,746.

The Company has suffered continued losses from operations since
its inception and incurred a net loss of $653,045 for the three
months ended March 31, 2010.  The Company had stockholders'
deficiencies of $2,491,746 and $2,297,933 and working capital
deficiencies of $3,615,564 and $2,147,255 at March 31, 2010, and
December 31, 2009, respectively.  "The prolonged trend of net
losses incurred over the last six fiscal years raises substantial
doubt about the Company's ability to continue as a going concern,"
Compliance Systems said in its Form 10-Q for the first quarter
ended March 31, 2010.


COMPLIANCE SYSTEMS: Issues Warrants to CFO as Dividend Payment
--------------------------------------------------------------
Barry M. Brookstein, Compliance Systems Corp.'s CFO and Secretary,
reports that he acquired on June 30, 2010, Common Stock Purchase
Warrants that may be converted -- until June 30, 2015 -- to
1,500,000 common shares, at an exercise price of $0.01 per share.
He directly holds those securities.

Mr. Brookstein is the holder of 500,000 shares of Series B
Subordinated Convertible Voting Preferred Stock, par value $0.01
per share, of the Company, upon which the Company has accrued
$15,000 of dividends due and payable to Mr. Brookstein for the
three months ending June 30, 2010.  The Common Stock Purchase
Warrants are being issued to Mr. Brookstein as consideration for
the Company's inability to pay such accrued dividends due to state
law.

The exercise price may be subject to future adjustment resulting
from future dilutive issuances by the Company or the future
termination or expiration of other outstanding securities of the
Company.

Mr. Brookstein also disclosed he indirectly holds Common Stock
Purchase Warrants that may be converted -- until June 30, 2015 --
to 2,250,000 common shares, at an exercise price of $0.01 a share.
The warrants are owned by Spirits Management, Inc., a corporation
of which Mr. Brookstein is a principal owner.

With regard to the Spirit Warrants, Mr. Brookstein is the holder
of 750,000 shares of Series B Subordinated Convertible Voting
Preferred Stock, par value $0.01 per share, of the Company, upon
which the Company has accrued $22,500 of dividends due and payable
to Mr. Brookstein for the 3 months ending June 30, 2010.  These
Common Stock Purchase Warrants are being issued to Mr. Brookstein
as consideration for the Company's inability to pay such accrued
dividends due to state law.

Mr. Brookstein indirectly holds 476,400 shares of the Company's
Series C Preferred Stock, which are owned by his minor children
over whom he has custodial control.

In a separate filing with the Securities and Exchange Commission,
Mr. Brookstein said he is the beneficial owner of 298,037,826
shares, representing approximately 51.9% of the Common Stock.

Mr. Brookstein also disclosed he and Spirits have each granted
Agile Opportunity Fund LLC a limited, non-recourse guarantee of
the debt of the Company owed to Agile and in the principal amount
of $1.94 million as of July 5, 2010.  His limited, non-recourse
guarantee is secured by his 200,000 shares of Series A Preferred
Stock, 500,000 shares of Series B Preferred Stock and 406,992
shares of Series C Preferred Stock.  Spirits' limited, non-
recourse guarantee is secured by Spirits' 750,000 shares of Series
B Preferred Stock and 450,601 shares of Series C Preferred Stock.

                     About Compliance Systems

Headquartered in Glen Cove, New York, Compliance Systems
Corporation operates its principal businesses through two of its
subsidiaries, Call Compliance, Inc. and Execuserve Corp.

Call Compliance helps telemarketing operators ensure compliance in
the highly regulated, strictly enforced Do-Not-Call and other
telemarketing guidelines environment.  Execuserve provides
organizations, who are hiring employees, with tests and other
evaluation tools and services to assess and compare job
candidates.

The Company's balance sheet at March 31, 2010, showed $1,715,885
in assets and $4,207,631 of liabilities, for a stockholders'
deficit of $2,491,746.

The Company has suffered continued losses from operations since
its inception and incurred a net loss of $653,045 for the three
months ended March 31, 2010.  The Company had stockholders'
deficiencies of $2,491,746 and $2,297,933 and working capital
deficiencies of $3,615,564 and $2,147,255 at March 31, 2010, and
December 31, 2009, respectively.  "The prolonged trend of net
losses incurred over the last six fiscal years raises substantial
doubt about the Company's ability to continue as a going concern,"
Compliance Systems said in its Form 10-Q for the first quarter
ended March 31, 2010.


COMPLIANCE SYSTEMS: President Defers Q3 Salary, Gets Warrants
-------------------------------------------------------------
Dean Garfinkel, president of Compliance Systems Corp., reports
that he acquired on July 7, 2010, Common Stock Purchase Warrants
that may be converted -- until July 6, 2015 -- to 4,500,000 common
shares, at an exercise price of $0.01 per share.  He directly
holds those securities.

The Company has been deferring portions of Mr. Garfinkel's salary
and it has determined that it is necessary to continue to defer a
portion of his salary through the third fiscal quarter of 2010.
He is deferring $45,000 of his $60,000 salary for the third
quarter of 2010.  The Common Stock Purchase Warrants are being
issued to Mr. Garfinkel in consideration of his salary deferral at
the rate of 100 warrants for every $1 of salary deferred.

In a separate filing with the Securities and Exchange Commission,
Mr. Garfinkel said he is the beneficial owner of 100,773,300
shares, representing approximately 26.5% of the Common Stock.

Mr. Garfinkel also said he has granted Agile Opportunity Fund LLC
a limited, non-recourse guarantee of the debt of the Company owed
to Agile and in the principal amount of $1.94 million as of July
5, 2010.  His limited, non-recourse guarantee is secured by his
466,750 shares of Series C Preferred Stock.

                     About Compliance Systems

Headquartered in Glen Cove, New York, Compliance Systems
Corporation operates its principal businesses through two of its
subsidiaries, Call Compliance, Inc. and Execuserve Corp.

Call Compliance helps telemarketing operators ensure compliance in
the highly regulated, strictly enforced Do-Not-Call and other
telemarketing guidelines environment.  Execuserve provides
organizations, who are hiring employees, with tests and other
evaluation tools and services to assess and compare job
candidates.

The Company's balance sheet at March 31, 2010, showed $1,715,885
in assets and $4,207,631 of liabilities, for a stockholders'
deficit of $2,491,746.

The Company has suffered continued losses from operations since
its inception and incurred a net loss of $653,045 for the three
months ended March 31, 2010.  The Company had stockholders'
deficiencies of $2,491,746 and $2,297,933 and working capital
deficiencies of $3,615,564 and $2,147,255 at March 31, 2010, and
December 31, 2009, respectively.  "The prolonged trend of net
losses incurred over the last six fiscal years raises substantial
doubt about the Company's ability to continue as a going concern,"
Compliance Systems said in its Form 10-Q for the first quarter
ended March 31, 2010.


CONTROLADORA COMERCIAL: Files for Chapter 15 Protection
-------------------------------------------------------
Controladora Comercial Mexicana SAB filed for Chapter 15
bankruptcy in the United States to aid its main restructuring in
Mexico, already approved by creditors, Dawn McCarty and Tiffany
Kary at Bloomberg News report.  The report relates that CCM listed
both debt and assets of more than US$1 billion in documents filed
in U.S. Bankruptcy Court in Manhattan.  The report relates that
the U.S. filing seeks to protect the company from U.S. lawsuits
and creditor claims, following a July 14 announcement that it
filed to restructure in Mexico.

According to the report, the Chapter 15 filing was made to stop
creditors such as some noteholders from taking actions to derail
CCM's efforts to restructure.

As reported in the Troubled Company Reporter-Latin America on
July 16, 2010, Bloomberg News said that Controladora
Comercial filed for pre-approved bankruptcy on July 14, 2010.
Operations will continue normally, the company said in an e-mailed
statement obtained by the news agency.  According to Dow Jones
Newswires, Comercial Mexicana has submitted its prepackaged
US$1.54 billion debt-restructuring agreement to a Mexican court
with 98% of its creditors on board.  The report related that the
restructuring agreement, which was announced in late May, has the
support of all of its derivatives counterparties and bank
creditors, and 88% of its bond creditors.  The restructuring
already has been approved by the company's shareholders, the
report says.

CCM's debt, Bloomberg notes, includes three types of unsecured
notes:

   -- US$200 million in notes due 2015,
   -- MXN3 billion (US$232.4 million) in notes due 2027, and
   -- MXN111.3 million in notes due 2010.

The report, citing court papers, relates that the company also has
Mexican commercial paper worth MXN1.5 billion, peso-denominated
bank debt of MXN2.545 billion, and U.S. dollar-denominated bank
debt of US$99.4 million.

Under the pre-approved plan, the report says, derivative
counterparties and commercial bank creditors will exchange their
current claims for a share of a new debt, and noteholders will get
a portion of new bonds, some denominated in U.S. dollars, others
in pesos.

Law firm Fried Frank Harris Shriver & Jacobson, based in New York,
is representing Controladora Comercial Mexicana SAB in the Chapter
15 case.  The case is In re Controladora Comercial Mexicana SAB,
10-13750, U.S. Bankruptcy Court, Southern District of New York
(Manhattan).

                          About Comerci

Controladora Comercial Mexicana SAB de CV a.k.a Comerci
(MXK:COMERCIUBC) -- http://www.comerci.com.mx/-- is a Mexican
chains of retail stores, as well as a chain of family restaurants
under the Restaurantes California brand name.  In addition, CCM
owns a 50% interest in the Costco de Mexico, a joint venture with
Costco Wholesale Corporation, which operates a chain of membership
warehouses in Mexico.  The company's store chains include
Comercial Mexicana, City Market, Mega, Bodega CM, Sumesa and
Alprecio, among others.  As of December 31, 2007, CCM operated 214
commercial units and 71 restaurants across Mexico.  The company's
retail outlets sell a variety of food items, including basic
groceries and perishables, and non-food items, which include
electronics, home furnishings, personal hygiene products and
clothing.  CCM is a parent of Tiendas Comercial Mexicana SA de CV,
Tiendas Sumesa SA de CV, Restaurantes California SA de CV and
Costco de Mexico SA de CV, among others.


DENNY'S CORPORATION: Names Gregg Dedrick to Board of Directors
--------------------------------------------------------------
Denny's Corporation said that Gregg R. Dedrick has been appointed
to its Board of Directors.  Mr. Dedrick has held senior executive
positions at KFC, Yum Brands, Pepsi-Cola and Pizza Hut and brings
nearly 30 years of experience in operations and organizational
resource planning in franchised based restaurant systems.

Brenda J. Lauderback, chair of Denny's Corporate Governance and
Nominating Committee, stated, "We are very pleased to add Gregg to
the Denny's Board of Directors.  He brings significant restaurant
industry experience, including leadership positions with several
well respected restaurant brands.  In particular, his experience
in concept development and execution, building performance based
reward systems for management teams, and in developing
organizational cultures that are focused on customer service will
be of great benefit to Denny's as we complete the Company's
transformation and aim for best-in-class execution at all levels
of the business.  Gregg will bring valuable and fresh perspective
to the Board and we look forward to his contribution."

Mr. Dedrick was a co-founder of Whole Strategies, an
organizational consulting firm, in 2009.  Prior to that, he was
President and Chief Concept Officer at KFC for five years where he
led the development of the company's grilled chicken product.  He
previously served as EVP, People and Shared Services at Yum
Brands; Chief People Officer at Yum Brands; and SVP Human
Resources for Pizza Hut and KFC.

                     About Denny's Corporation

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

According to the Troubled Company Reporter on June 14, 2010,
Moody's Investors Service stated that the B2 Corporate Family and
Probability of Default ratings and the Stable rating outlook for
Denny's Holdings, Inc., will not immediately be affected by the
departure of Nelson Marchioli as Chief Executive Officer.


ELBIT VISION: Recurring Losses Prompt Going Concern Doubt
---------------------------------------------------------
Elbit Vision Systems Ltd. filed on July 15, 2010, its annual
report on Form 20-F for the fiscal year ended December 31, 2009.

Brightman Almagor Zohar & Co., in Tel Aviv, Israel, expressed
substantial doubt about Elbit Vision Systems Ltd. and
subsidiaries' ability to continue as a going concern.  The
independent auditors noted that the Company has incurred recurring
losses from operations and has an accumulated deficit as of
December 31, 2009.

The Company reported a net loss of $7.7 million on $12.6 million
of revenue for 2009, compared with a net loss of $7.5 million on
$22.1 million of revenue for 2008.

The Company's balance sheet at December 31, 2009, showed
$9.6 million in assets and $15.0 million of liabilities, for a
stockholders' deficit of $5.4 million.

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

               http://researcharchives.com/t/s?66af

Caesarea, Israel-based Elbit Vision Systems Ltd. (Nasdaq:
EVSNF.OB) -- http://www.evs-sm.com/-- offers a broad portfolio of
automatic State-of-the-Art Visual Inspection Systems for both in-
line and off-line applications, and quality monitoring systems
used to improve product quality, safety, and increase production
efficiency.  The headquarters, manufacturing and R&D of the
Company are all located in Israel.


ENERGY FUTURE: Units Launch Exchange Offers of Outstanding Notes
----------------------------------------------------------------
Energy Future Holdings Corp. said that its direct, wholly-owned
subsidiary, Energy Future Intermediate Holding Company LLC, and
EFIH's direct, wholly-owned subsidiary, EFIH Finance Inc. are
commencing exchange offers to exchange the outstanding
11.250%/12.000% Senior Toggle Notes due 2017 and 10.875% Senior
Notes due 2017 of EFH Corp. for up to $2.18 billion aggregate
principal amount of 10.000% Senior Secured Notes due 2020 to be
issued by the Offerors and an aggregate of $500 million in cash,
upon the terms and subject to the conditions set forth in the
prospectus relating to the Exchange Offers and the related Consent
and Letter of Transmittal.

The maximum aggregate principal amount of New Senior Secured Notes
issuable in the Exchange Offers, which is referred to herein as
the "Maximum Exchange Amount," will not exceed $2.18 billion.

The purpose of the Exchange Offers is to reduce the outstanding
principal amount, reduce interest expense and extend the weighted
average maturity, of the long-term debt of EFH Corp. and its
subsidiaries.

Concurrent with the Exchange Offers, and upon the terms and
subject to the conditions more fully described in the Prospectus
and the related Consent and Letter of Transmittal, EFH Corp. is
soliciting consents from holders of Old Notes to certain proposed
amendments to the indenture pursuant to which the Old Notes were
issued.  The Proposed Amendments are summarized below.

On July 15, 2010, EFH Corp., EFIH and EFIH Finance entered into
exchange agreements with certain institutional investors that are
holders of certain of the Old Notes, pursuant to which such
holders agreed to participate in the Exchange Offers and the
Consent Solicitation.  EFH Corp. and the Offerors expect that such
holders will tender and deliver consents in respect of
approximately $2.3 billion aggregate principal amount of Old
Notes, representing approximately 52% of the aggregate principal
amount of outstanding Old Notes, in the Exchange Offers and the
Consent Solicitation pursuant to these agreements.  As a result of
these agreements to participate in the Exchange Offers and the
Consent Solicitation, it is expected that no additional Old Notes
would need to be validly tendered in the Exchange Offers or
related Consents validly delivered in the Consent Solicitation for
the minimum condition to the Exchange Offers to be satisfied and
to obtain the requisite Consents to adopt the Proposed Amendments.

                        About Energy Future

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

                           *     *     *

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

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


EURONET WORLDWIDE: Moody's Upgrades Corp. Family Rating to 'Ba3'
----------------------------------------------------------------
Moody's Investors Service upgraded Euronet Worldwide, Inc's
corporate family and probability of default ratings to Ba3 from
B1, and the ratings for its senior secured credit facilities to
Ba1 from Ba2.  The ratings outlook is stable.  Concurrently,
Moody's also upgraded the Company's Speculative Grade Liquidity
rating to SGL-1 from SGL-2.

The upgrade of the corporate family rating recognizes Euronet's
track record of steady deleveraging through debt reduction and
EBITDA growth, and the Company's stable free cash flow generation,
particularly during a difficult global macro-economic environment
in 2008 and 2009.  The upgrade reflects Moody's expectations that
Euronet's revenue and EBITDA growth rates will modestly improve
year-over-year, driven by the Company's well established market
position in its key markets, new product offerings, geographic
expansion, and generally a more favorable economic outlook
relative to the prior year.

The Ba3 corporate family rating reflects Euronet's good market
position in its key markets within its electronic financial
transactions, prepaid and money transfer segments.  The rating
also considers the Company's good business execution, evidenced by
revenue and EBITDA growth of about 8%-to-10% (CAGR between 2007
and 2009, on a constant US Dollar basis) through organic growth
and acquisitions, and the geographic and end-customer diversity of
the Company's revenues.  Euronet's Ba3 corporate family rating is
supported by its moderate leverage of 2.6x (Total Debt/EBITDA,
Moody's adjusted) and good free cash flow generation of about 10%-
to-15% of total debt (excluding changes in working capital).

However, Euronet's rating is constrained by its moderate scale, as
measured by normalized earnings and free cash flows, and low
profitability.  In addition, the rating considers the Company's
highly competitive business environment, its challenges in driving
organic revenue growth amid a slow global economic recovery and
increasing pricing pressure, particularly on ATM transaction-based
revenues.  Moody's believes that ATM usage fees will likely trend
down, especially in jurisdictions where they are comparatively
higher, due to downstream impacts of regulatory pressure to lower
"interchange fee", which in turn could pressure Euronet's highly
profitable ATM transaction-based revenues.  Specifically, Euronet
faces a reduction in interchange fee in Poland by Visa Europe
(from about PLN 3.50 to PLN 1.30), which management believes could
reduce the Company's pre-tax profits by about $5.6 million in
fiscal year 2010 and $5 million in fiscal year 2011.  Moody's
notes that Euronet also faces uncertainty in sustaining its
increased ATM surcharge rates in Germany, which could have some
impact on the Company's profitability.

The rating agency also believes that revenue growth will likely be
constrained, at least in the near term, due to continued softness
(albeit improving) in money transfers from the U.S.  to Mexico and
challenges in replacing revenues from mobile recharge product that
has matured in certain legacy markets.

While the Ba3 corporate family rating considers modest-sized
acquisitions to augment organic cash flow growth, the rating could
likely be lowered if the Company were to pursue large debt-
financed acquisitions that could materially alter its capital
structure and increase business risk.

These ratings were upgraded:

* Corporate Family Rating to Ba3 from B1

* Probability of Default Rating to Ba3 from B1

* $100 million Senior Secured Revolving Credit Facility due 2012
  to Ba1 (LGD2, 18%) from Ba2 (LGD2, 26%)

* $129 million of Senoir Secured Term Loan to due 2014 to Ba1
  (LGD2, 18%) from Ba2 (LGD2, 26%)

* Speculative Grade Liquidity to SGL-1 from SGL-2

The last rating action on Euronet took place on March 12, 2007,
when Moody's assigned first-time ratings to its senior secured
credit facilities, which were used to finance in part the
acquisition of RIA Envia.

Euronet Worldwide, headquartered in Leawood, Kansas, is a global
electronic payments provider.  The Company mainly provides
automated teller machine, point-of-sale, and card outsourcing
service; electronic distribution of mobile airtime and other
prepaid product, and global consumer money transfer services.
Revenues for the LTM 1Q 2010 period were $1.05 billion.


EVERGREEN INVESTMENTS: Plans to Liquidate Evergreen Int'l Fund
--------------------------------------------------------------
The Board of Trustees of Evergreen International Balanced Income
Fund approved the liquidation of the Fund.

The liquidation is expected to occur after the close of business
on Monday, August 16, 2010.  Shares of the Fund will cease to be
traded on the New York Stock Exchange at that time.  Shareholders
at that time will receive a liquidating distribution equal to the
net asset value of their investment in the Fund as of the close of
business on August 16, 2010.

The Fund seeks to provide a high level of income by primarily
investing in dividend-paying international stocks and other equity
securities and international debt securities.  The Fund seeks to
supplement its current income by writing call options on
international indices.  The Fund's investment advisor, Evergreen
Investment Management Company, LLC, has informed the Fund's
Trustees that it believes that declines over time in the current
income available for distribution by the Fund and the Fund's
recent investment performance have contributed to the discount at
which the Fund's shares trade to their net asset value.  Evergreen
does not expect the Fund's income available for distribution to
increase for the foreseeable future due, in part, to anticipated
changes to the U.S. tax code.  In light of these and other
factors, and after reviewing various other strategic options,
Evergreen recommended to the Trustees that the Fund be liquidated.

A meeting of shareholders of the Fund held on July 9, 2010, to
consider proposals to approve new advisory and subadvisory
contracts and Trustee appointments was adjourned to July 30, 2010.
No action is expected to be taken on the proposals at that
adjourned meeting.

The dividend that the Fund declared on June 10, 2010, which is
payable August 2, 2010, to shareholders of record on July 15,
2010, will be the Fund's final regular monthly dividend.  Any
income or gain that otherwise would have been distributed by way
of a dividend declared in July 2010 and payable in September 2010
will instead be distributed as a dividend to be paid on or before
the date of the Fund's liquidation.

The Fund is a closed-end, U.S.-registered management investment
company advised by Evergreen Investment Management Company, LLC,
with total net assets of $168 million as of June 30, 2010.

For more information, please visit the News Room page on
http://www.EvergreenInvestments.comor the Press Room on
http://www.wellsfargo.com/advantagefunds, contact your financial
advisor, or call 1-800-343-2898.

The Fund's shares are no longer offered as an initial public
offering and are only offered through broker/dealers on the
secondary market.

                   About Evergreen Investments

Evergreen Investments is one of the brand names under which Wells
Fargo & Company conducts its investment management business and is
part of the Wells Fargo Asset Management Group.  Wells Fargo &
Company is a diversified financial services company with
$1.2 trillion in assets as of March 31, 2010, providing banking,
insurance, investments, mortgage and consumer finance through
almost 11,000 stores and the internet across North America and
internationally.  The Wells Fargo Asset Management Group serves
individual and institutional investors through a broad range of
investment products; strives to meet client investment objectives
through disciplined, team-based asset management; and manages more
than $465 billion in assets as of March 31, 2010.  For more
information on Evergreen, please visit
http://EvergreenInvestments.com

Evergreen Investment Management Company, LLC, is a subsidiary of
Wells Fargo & Company and is an affiliate of Wells Fargo &
Company's broker/dealer subsidiaries.  Evergreen InvestmentsSM is
a service mark of Evergreen Investment Management Company, LLC.
Copyright 2010.  Evergreen Investment Management Company, LLC.


EXTENDED STAY: ESA TXGP Proposes to Set Claims Bar Date
-------------------------------------------------------
ESA TXGP LLC and four other debtor affiliates of Extended Stay
Inc. sought and obtained a Court ruling that establishes
August 17, 2010, as the deadline for creditors to file proofs of
claim in their bankruptcy cases.

The other debtor affiliates are ESH/MSTX GP LLC, ESH/TXGP LLC,
ESA P Portfolio TXNC GP LLC and ESH/TN Member Inc.  The
"Additional Debtors" filed for bankruptcy protection eight months
after ESI and its 60+ affiliates filed their Chapter 11 cases.

Jacqueline Marcus, Esq., at Weil Gotshal & Manges LLP, in New
York, related that the Additional Debtors have no known creditors
and are not parties to any executory contract or lease.  She
pointed out that setting a claims bar date will provide certainty
and assist the Additional Debtors as they prepare for their
emergence from bankruptcy.

For claims that stem from the rejection of executory contracts
and leases, creditors are required to file their proofs of claim
by the later of the (i) claims bar date, or (ii) within 45 days
after the effective date of the rejection.

Creditors affected by any amendment of the Additional Debtors'
schedule of assets and liabilities are required to file their
proofs of claims by the later of (i) the claims bar date, or (ii)
within 30 days after notice of the amendment is served.

              Process for Filing Proofs of Claim

Creditors, if any, that have claims against more than one of the
Additional Debtors are required to file a separate proof of claim
against each Additional Debtor.

Proofs of claim will be deemed timely filed only if they are
received by Kurtzman Carson Consultants LLC or by the Court on or
before August 17, 2010.  Proofs of claim sent by facsimile,
telecopy or electronic mail will not be accepted.

These creditors are not required to file a proof of claim:

  (1) Any entity or person whose claim is added to the
      Additional Debtors' schedules of assets and liabilities,
      and whose claim is not described as disputed, contingent
      or unliquidated; who does not dispute the amount, nature
      or priority of the claim stated in the schedules; and who
      does not dispute that the claim is an obligation of the
      specific company;

  (2) Any entity or person that holds an interest in ESA TXGP
      and the other Additional Debtors, which is based
      exclusively on the ownership of common or preferred stock,
      membership interests, partnership interests, or warrants
      or rights to purchase, sell or subscribe to that security
      or interest;

  (3) Any entity or person whose claim had already been paid in
      full;

  (4) Any holder of a claim allowable as an administrative
      expense;

  (5) Any person or entity that holds a claim, which has been
      allowed by an order issued by the Court on or before
      August 17, 2010;

  (6) Any holder of a claim for which a separate deadline is
      fixed by the Court;

  (7) ESI or any of its affiliated Original Debtors to the
      extent it has a claim against the Additional Debtors;

  (8) Any affiliate or wholly owned subsidiary of ESI or its
      affiliated Original Debtors that has a claim against the
      Additional Debtors;

  (9) Any holder of a claim who has already properly filed a
      proof of claim with the Clerk of the Court or KCC; and

(10) U.S. Bank, National Association and the trust it
      administers.

Any person or entity that relies on the schedules of ESA TXGP and
the other Additional Debtors is responsible for determining that
its claim is accurately listed in the schedules.  Any creditor
that is required to file a proof of claim but fails to do so
before claims bar date will be barred and enjoined from asserting
its claim.

The Additional Debtors intend to mail a notice of the claims bar
date and have it published in the national edition of The Wall
Street Journal 28 days before the Bar Date.

                        About Extended Stay

Extended Stay is the largest owner and operator of mid-price
extended stay hotels in the United States, holding one of the most
geographically diverse portfolios in the lodging sector with
properties located across 44 states (including 11 hotels located
in New York) and two provinces in Canada.  As a result of
acquisitions and mergers, Extended Stay's portfolio has expanded
to encompass over 680 properties, consisting of hotels directly
owned or leased by Extended Stay or one of its affiliates.
Extended Stay currently operates five hotel brands: (i) Crossland
Economy Studios, (ii) Extended Stay America, (iii) Extended Stay
Deluxe, (iv) Homestead Studio Suites, and (v) StudioPLUS Deluxe
Studios.

Extended Stay Inc. and its affiliates filed for Chapter 11 on
June 15, 2009 (Bankr. S.D.N.Y. Case No. 09-13764).  Judge James M.
Peck handles the case.  Marcia L. Goldstein, Esq., at Weil Gotshal
& Manges LLP, in New York, represents the Debtors.  Lazard Freres
& Co. LLC is the Debtors' financial advisors.  Kurtzman Carson
Consultants LLC is the claims agent. Extended Stay had assets of
$7.1 billion and debts of $7.6 billion as of the end of 2008.

Bankruptcy Creditors' Service, Inc., publishes Extended Stay
Bankruptcy News.  The newsletter provides gavel-to-gavel coverage
of the Chapter 11 proceedings undertaken by Extended Stay Inc. and
its various affiliates. (http://bankrupt.com/newsstand/or
215/945-7000).


FAIRMOUNT MINERALS: S&P Assigns 'BB-' Corporate Credit Rating
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned its
preliminary 'BB-' corporate credit rating to U.S.-based frac sand
producer Fairmount Minerals Ltd. based on the proposed terms of
their transaction.  The outlook will be stable.

At the same time, on a preliminary basis, S&P assigned a 'BB'
issue-level rating and '2' recovery rating to the three debt
issues that are part of the proposed senior secured credit
facility, including the proposed $75 million senior secured
revolving credit facility due 2015, the $150 million senior
secured term loan due 2015, and the $550 million senior secured
term loan due 2016.  The preliminary '2' recovery rating indicates
S&P's expectation of substantial (70%-90%) recovery in the event
of a payment default.

"S&P's preliminary rating and outlook are based on the likelihood
that Fairmount will generate around $200 million in EBITDA this
year, reflecting solid frac sand demand," said Standard & Poor's
credit analyst Sherwin Brandford.  This level of earnings will
support pro forma credit metrics in line with a 'BB-' rating given
the proposed capital structure, with funds from operations (FFO)
to debt of around 20%.

"Looking further ahead," added Mr. Brandford, "S&P believes that
performance in 2011 will likely remain around the same level and
therefore expect the company's credit metrics to stay in line with
a 'BB-' rating, at least through 2011." S&P's stable outlook also
reflects its expectation that the company will remain in
compliance with the covenants under the credit facility and
maintain cushion of at least 10%, as the proposed covenants
tighten over the next two years.


FORUM HEALTH: To Provide Copies of MOU to MBIA Insurance
--------------------------------------------------------
According to insurancenewsnet.com, a federal bankruptcy court
ordered Forum Health to provide copies of the memorandums of
understatement to its unions and Ardent Health Service to MBIA
Insurance.

The report relates that the company and Ardent argued that the
memorandums, the approval of which was followed by an offer by
Ardent to buy Forum for $69.8 million, contain privileged
information and refused to make them available to MBIA.

An MBIA representative said the memos are necessary for MBIA to
determine whether Ardent's offer maximizes the company's assets
and the deal give Ardent an unfair advantage over other bidders,
report relates.

                        About Forum Health

Forum Health and its affiliates filed for Chapter 11 protection on
March 16, 2009 (Bankr. N.D. Ohio Lead Case No. 09-40795).  Paul W.
Linehan, Esq., and Shawn M Riley, Esq., at McDonald Hopkins LLC,
serve as lead counsel to the Debtors.  The Debtors have also
tapped Michael A. Gallo, Esq. at Nadler Nadler & Burdman Co., LPA
as co- counsel; Kurtzman Carson Consultants LLC as claims,
noticing and balloting agent; and Huron Consulting Services LLC as
financial advisors.  Alston & Bird LLP represents the official
committee of unsecured creditors formed in the Chapter 11 cases.
At the time of its filing, Forum Health estimated that it had
assets and debts both ranging from $100 million to $500 million.


FRANCES CROFTS: Case Summary & 13 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Frances G. Crofts
        135 Fairview Dr
        Neshanic Station, NJ 08853

Bankruptcy Case No.: 10-31778

Chapter 11 Petition Date: July 15, 2010

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

Judge: Kathryn C. Ferguson

Debtor's Counsel: Michael McLaughlin, Esq.
                  Wasserman, Jurista, Stolz
                  P.O. Box 1029
                  225 Millburn Avenue
                  Millburn, NJ 07041
                  Tel: (973) 467-2700
                  Fax: (973) 467-8126
                  E-mail: mmclaughlin@wjslaw.com

Scheduled Assets: $1,154,758

Scheduled Debts: $1,863,605

A list of the Debtor's 13 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/njb10-31778.pdf

The petition was signed by the Debtor.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Crofts & Miller, Inc.                  09-11393   02/03/09


FX REAL ESTATE: Stockholders Elect Six Directors
------------------------------------------------
FX Real Estate and Entertainment Inc. held its 2010 Annual Meeting
of Stockholders at which the stockholders (i) elected six
directors until the next annual meeting of stockholders and until
their respective successors are duly elected and qualified and
(ii) ratified the appointment of L.L. Bradford & Company, LLC as
independent registered public accounting firm for the fiscal year
ending December 31, 2010.

The elected directors are:

  * Robert F.X. Sillerman
  * Paul C. Kanavos
  * Michael J. Meyer
  * John D. Miller
  * Harvey Silverman
  * Robert Sudack

               About FX Real Estate and Entertainment

Based in New York, FX Real Estate and Entertainment Inc. owns and
operates 17.72 contiguous acres of land located at the southeast
corner of Las Vegas Boulevard and Harmon Avenue in Las Vegas,
Nevada.  The Las Vegas property is currently occupied by a motel
and several commercial and retail tenants with a mix of short and
long-term leases.  The first lien lenders had a receiver appointed
on June 23, 2009, to take control of the property and as a
consequence, the property is no longer being managed or operated
by the Company.

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

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


GARLOCK SEALING: Court Grants Final Approval to DIP Financing
-------------------------------------------------------------
Judge George R. Hodges of the U.S. Bankruptcy Court for the
Western District of Northern Carolina authorized Garlock Sealing
Technologies LLC on a final basis to enter into a $10,000,000
financing arrangement with Bank of America, N.A., pursuant to a
Postpetition Loan and Security Agreement.

Any and all objections to the DIP Motion, to the extent not
withdrawn with prejudice, waived or resolved by consent at or
before a June 30, 2010 final hearing, are overruled and denied,
Judge Hodges averred.

All obligations under the DIP Loan Agreement, including all
credit extensions and banking relationship debt will continue to
be secured by security interests and liens in favor of the DIP
Lender with respect to certain property of each Debtor and all
cash and non-cash proceeds of that property, Judge Hodges said.

The DIP Lender will also be deemed to have a perfected security
interest in and lien upon all of the "Springing Collateral" as
security for the repayment of the DIP Obligations, Judge Hodges
noted.  Springing Collateral means all real property and
equipment of the Debtors -- fixed assets --, software and
intellectual property embedded in the Fixed Assets, and general
intangibles, chattel paper and documents exclusively related to
the Fixed Assets.

All DIP Obligations will constitute an allowed administrative
expense claim under Section 503(b) of the Bankruptcy Code and
will constitute an allowed superpriority claim pursuant to
Section 364(c)(1) of the Bankruptcy Code over all other
administrative expenses, Judge Hodges ruled.

Judge Hodges further averred that any lien, secured status,
superpriority administrative status, administrative status or any
asserted priority in entitlement, including the DIP Liens and the
Superpriority Claim, will be subject and subordinate to the
payment of:

  (i) accrued and unpaid professional expenses of professionals,
      to the extent that those expenses are for services
      rendered or expenses incurred by those Professionals
      before the occurrence of a Carve-Out Event are approved
      for payment by final order of the Court and do not exceed
      $850,000 in the aggregate, less the balance, if any, of
      any retainers held by any Professional at the time of that
      Carve-Out Event;

(ii) Professional Expenses of Professionals, to the extent that
      those Professional Expenses are incurred after the
      occurrence of the Carve-Out Event, are approved for
      payment by final order of the Court and do not exceed
      $150,000 in the aggregate; and

(iii) quarterly fees required to be paid pursuant to 2015(a) of
      the Federal Rules of Bankruptcy Procedure and Section
      1930(a)(6) of Title 28 of the U.S. Code that are accrued
      and unpaid as of the Carve-Out Event.

A Carve-Out Event means the termination of the commitment for the
DIP Loans.

A full-text copy of the Final DIP Order dated July 15, 2010, is
available for free at:

        http://bankrupt.com/misc/Garlock_Jul15FinDIPOrd.pdf

Before entry of the Final DIP Order, on behalf of the Debtors,
Ashley K. Neal, Esq., at Rayburn in Charlotte, North Carolina,
disclosed that the Debtors, the Official Committee of Asbestos
Personal Injury Claimants and BofA have agreed on changes to the
form of order with respect to the DIP Motion.  Those changes are
incorporated in the Final DIP order, she related.  She added that
no objections have been filed as of July 14, 2010.

The Facility would provide a senior secured revolving credit
facility pursuant to which borrowers Garlock Sealing Technologies
LLC and Garrison Litigation Management Group, Ltd. may obtain
revolver loans from time to time up to a maximum principal amount
outstanding at any time of $10,000,000.

The proposed DIP Facility would also contain an $8,000,000 letter
of credit sub-facility for standby letters of credit.  Actual
borrowing availability at any date would be determined by
reference to a Borrowing Base of specified percentages of eligible
accounts receivable and inventory, which borrowing base would be
reduced by Revolver Loans and letters of credit outstanding and
certain reserves.

The other salient terms of the DIP Facility are:

Interest
Rate:     The rate of interest for Revolver Loans (a) made
          or outstanding as Base Rate Loans equals the Base
          Rate in effect from time to time plus 2.5% or (b) made
          or outstanding as LIBOR Loans, the Adjusted LIBOR Rate
          for the applicable Interest Period plus 3.5%.

Maturity: December 7, 2011, subject to up to four one-year
          renewals upon the Borrowers' request and the
          satisfaction of certain conditions to each renewal.

Fees:     Fees include a closing fee of $100,000 due at Closing.
          Other fees include an unused line fee, certain fees
          associated with letters of credit, certain audit and
          appraisal costs and expenses, and certain fees in the
          event the initial term of the DIP Facility is renewed.

Also, the Interim and the Final DIP Financing Orders will each
contain a Carve-Out, Out, which will be equal to no more than
$1,000,000 plus an estimate by Lender for amounts accrued and
unpaid pursuant to 28 U.S.C. Section 1930(a)(6), for fees and
expenses of Professional Persons in the Chapter 11 Cases, notes
Mr. Durham.

Pursuant to the Interim DIP Financing Order, the Debtors will
stipulate that:

  (a) the Pre-Petition Loan Agreement and the Loan Documents
      constitute valid and binding agreements and obligations of
      Garlock and Garrison;

  (b) the Pre-Petition Liens granted by Garlock and Garrison (i)
      constitute valid, binding, enforceable and perfected
      security interests and liens, are not subject to avoidance
      or subordination, and are subject only to certain security
      interests and liens that are expressly permitted under the
      Pre-Petition Loan Agreement to have priority over the Pre-
      Petition Liens, but only to the extent the permitted liens
      are valid, enforceable, non-avoidable liens and security
      interests that are perfected prior to the Petition Date,
      not subject to avoidance, reduction, disallowance,
      impairment or subordination pursuant to the Bankruptcy
      Code or applicable non-bankruptcy law and senior in
      priority to the Pre-Petition Liens under applicable law
      after giving effect to any applicable subordination or
      intercreditor agreements, and (ii) are not subject to
      avoidance, impairment or subordination pursuant to the
      Bankruptcy Code or applicable non-bankruptcy law;

  (c) the Pre-Petition Debt constitutes legal, valid and binding
      obligations of Garlock, Garrison and the other Pre-
      Petition Affiliate Borrowers and is not subject to
      equitable subordination, offset, recoupment or
      recharacterization;

  (d) all amounts paid on or before the Petition Date by Garlock
      and Garrison to Pre-Petition Credit Parties are not
      subject to any objection, offset, defense or counterclaim
      of any kind or nature or reduction, disallowance,
      impairment, recharacterization or subordination pursuant
      to the Bankruptcy Code or applicable non-bankruptcy law;
      and

  (e) no claims in favor of any Debtor exist against any Pre-
      Petition Credit Parties under any contract or tort
      theories of recovery or pursuant to Section 105 or Chapter
      5 of the Bankruptcy Code.

                      About Garlock Sealing

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

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

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

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

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


GARLOCK SEALING: Sec. 341 Meeting Continued to August 4
-------------------------------------------------------
Linda W. Simpson, U.S. Bankruptcy Administrator for the Western
District of North Carolina, continued the meeting of the creditors
of Garlock Sealing Technologies LLC and its debtor affiliates from
July 14, 2010, to August 4, at 2:00 p.m., at her office located at
402 W. Trade St., Suite 205, in Charlotte, North Carolina.

The meeting, as required under Section 341 of the Bankruptcy Code,
offers the one opportunity for creditors to question a responsible
office of the Debtors under oath about their financial affairs and
operations that would be of interest to the general body of
creditors.

The Bankruptcy Administrator has sworn Don Pomeroy, vice president
and chief financial officer of the Debtors, for the continued
Section 341 meeting, according to a July 14, 2010 memo from the
Bankruptcy Administrator.

                      About Garlock Sealing

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

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

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

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

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


GARLOCK SEALING: Proposes to Assume Daikin-America Contract
-----------------------------------------------------------
Garlock Sealing Technologies, LLC, and Daikin-America, Inc., are
parties to an executory contract for the consignment and purchase
of resin materials used in Garlock's manufacturing operations.

As of the Petition Date, Garlock owed Daikin-American $407,010 for
its April and May, 2010 invoices.  Garlock has also used $90,154
worth of Daikin-American materials, between the last invoice date
and the Petition Date.

By this motion, the Debtors seek the Court's permission to assume
the Contract and pay $497,165 as cure amount under the Contract.

Shelley K. Abel, Esq., at Rayburn Cooper & Durham, P.A., in
Charlotte, North Carolina, relates that Daikin-American is an
important vendor with whom the Debtors wish to continue their
business relationship.  The terms and conditions of the Contract
are favorable to Garlock, she further notes.  She also assures
the Court that payment of the cure amount will cause no
disruption to the Debtors' businesses because the Debtors have
cash on hand exceeding the cure amount.

                      About Garlock Sealing

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

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

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

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

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


GARLOCK SEALING: Wins Final Nod to Use BoA Cash Collateral
----------------------------------------------------------
Judge George R. Hodges of the U.S. Bankruptcy Court for the
Western District of Northern Carolina authorized, on a final
basis, Garlock Sealing Technologies LLC and its units to use Bank
of America N.A.'s cash collateral, and to provide adequate
protection to BofA for the use of its cash collateral.

Any and all objections to the Cash Collateral Motion, to the
extent not withdrawn with prejudice, waived or resolved by consent
at or before a June 30, 2010 final hearing, are overruled and
denied, Judge Hodges averred.

The Debtors will cause all proceeds of the Cash Collateral to be
promptly deposited in one or more accounts designated by BofA as
the DIP Lender, Judge Hodges ruled.  Before the deposit of the
Cash Collateral to a Dominion Account, the Debtors will be deemed
to hold all those proceeds in trust for the benefit of the DIP
Lender.

Absent an Event of Default under the DIP Loan Agreement and that
the Debtors' proposed use of Cash Collateral would not result in
an Out-of-Formula Condition, the DIP Lender will allow the Debtors
to have access to any Cash Collateral in the DIP Lender's
possession that constitutes collected and available balances in
any Dominion Account, subject to the DIP Lender's right to first
to apply any of those balances to the payment of any of the
obligations under the DIP Loan Agreement, Judge Hodges averred.

Representatives of DIP Lender will be authorized to visit the
business premises of the Debtors in accordance with the DIP Loan
Agreement to (i) inspect any Collateral or other assets, (ii)
inspect and make copies of any books and records of Debtors, and
(iii) verify or to obtain supporting details concerning the
financial information to be provided to the DIP Lender.

The DIP Lender will also be authorized to retain attorneys,
appraisers, consultants, auditors and financial advisors, at
Debtors' expense, which professionals will be afforded reasonable
access to the Collateral and Debtors' business premises to verify
the Debtors' compliance with the DIP Loan Documents and the Final
Cash Collateral Order, and appraise all or any part of the
Collateral.

A full-text copy of the Final Cash Collateral Order dated
July 15, 2010, is available for free at:

      http://bankrupt.com/misc/Garlock_Jul15CashCollOrd.pdf

                         *     *     *

On behalf of the Debtors, Ashley K. Neal, Esq., at Rayburn in
Charlotte, North Carolina, informed Judge Hodges that the Debtors,
the Official Committee of Asbestos Personal Injury Claimants and
Bank of America, N.A. have agreed on changes to the form of order
with respect to the request for the continued use of Cash
Collateral.  Those changes are incorporated in the Final Cash
Collateral order, she related.  She added that no objections have
been filed as of July 14, 2010.

                      About Garlock Sealing

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

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

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

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

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


GARNEAU INC: Enters Alternate Financing Arrangement
---------------------------------------------------
Garneau Inc. had executed a term sheet with certain affiliates of
a major shareholder pursuant to which the Company is to enter into
an alternative form of financing, which would result in the
payment in full of all outstanding amounts owing to the
Corporation's senior secured lender under its credit facility.  In
connection with the new plan, the Lender has agreed to provide up
to $3.6 million in new financing.  The Term Sheet describes some
of the basic terms of the New Facility, which will be subject to
the terms contained in definitive loan documentation.

Pursuant to the Term Sheet, the New Facility is to have a term of
two (2) years, and interest accrued at a rate of (9%) percent (the
"Base Rate") on all unpaid principal would be payable monthly.
Beginning six (6) months following closing, principal repayment in
the amount of $25,000 is to be paid in monthly installments.
Garneau may, however, without notice, permanently prepay amounts
outstanding under the New Facility in whole or in part at any time
at its discretion, without penalty.

The fees associated with the new facility are:

(i) Loan Fee -- the Corporation is to pay a fee of 1% (100 basis
     points) of the principal amount of the New Facility at the
     time of closing;

(ii) Annual Fee -- the Corporation is to pay an annual fee of 1%
     (100 basis points) of the principal amount outstanding as of
     each anniversary date would be payable commencing on the
     first anniversary date; and

(iii) Initial Fee -- the Corporation paid a non-refundable $15,000
      fee upon the execution of the Term Sheet by the Corporation;
      such amounts are to be used toward due diligence out-of-
      pocket expenses of the Lender and third-party costs.

The New Facility is to be secured by way of a first mortgage on
the real property of the Corporation.  Pursuant to the Term Sheet,
the proceeds of the New Facility are to be used by the Corporation
are:

(i) to satisfy all existing mortgage(s) and other liens over the
     real property of the Corporation;

(ii) to pay all fees and expenses related to the New Facility; and

(iii) for general operating purposes, to pay trade creditors and
      to pay employee severances, with the exception of Mr. Glen
      Garneau's owed severance which is to be paid after the New
      Facility is discharged.

Entering into the New Facility resulted from the process
undertaken by the board of directors of the Company in the Board's
continuing efforts to preserve shareholder value.  The Board will
continue in its review of strategic alternatives for Garneau.

Due to the Lender's interest in the New Facility, the entering
into of the New Facility is a related party transaction pursuant
to Multilateral Instrument 61-101 - Protection of Minority
Security Holders in Special Transactions.  The Company is relying
on the financial hardship exemption from the valuation and
minority approval requirements of MI 61-101.  Specifically,
pursuant to subsection 5.5(g) and 5.7(e) of MI 61-101, a formal
valuation and minority approval are not required in the event of
financial hardship in specified circumstances.  The Company has
satisfied the elements of this exemption on the basis that it is
in serious financial difficulty, that the New Facility is designed
to improve the financial position of the Company, the New Facility
is not subject to court approval nor has it been ordered under
bankruptcy or insolvency law and the Board, acting in good faith,
and at least two-thirds of the Company's independent directors,
acting in good faith, have determined the foregoing circumstances
are applicable and the terms of the New Facility are reasonable in
the circumstances of the Company.  The Corporation has three
independent directors who, acting in good faith, have determined
that the above statements are correct and that the terms of the
New Facility are reasonable in the circumstances of the Company.
The closing of the New Facility is subject to certain conditions
including consent of the Company's bankers.


GENERAL MOTORS: New GM Seeks $5 Bil. Add'l Credit to Repay Debts
----------------------------------------------------------------
General Motors obtained approval from Bank of America, Citigroup,
JPMorgan Chase and Morgan Stanley, that each will provide GM
$500 million in credit as the automaker seeks about $5 billion
from banks who are willing to help the automaker repay its debts,
Financier Worldwide said on July 5.

In April 2010, General Motors remitted to the U.S. government
$5.8 billion to pay back part of its loan but the automaker still
needs additional to provide itself with financial cushion in the
event of a double-dip depression, the report said.

On July 6, 2010, American Banking & Market News reported that the
automaker will file its IPO in mid-August possibly with $3 billion
of mandatory notes which are convertible into stock shares.  The
automobile giant aims to use the proceeds from the IPO to repay
the federal government for its pension liabilities, American
Banking said.

                       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: Nexteer Workers Return Wage Increase to Help Sale
-----------------------------------------------------------------
In order to help General Motors find a buyer for its Nexteer
steering plant in Saginaw, Michigan, employees of Nexteer Saginaw,
with the representation of UAW, have agreed to give back their
wage increases in exchange for cash, The Detroit Free Press
reported.

GM acquired the Saginaw plant from Delphi last year in its effort
to help Delphi emerge from bankruptcy.  Nexteer Saginaw employs
more than 2,000 workers who are members of UAW.

A contract that binds this agreement will be presented for
ratification in the Saginaw plant.  The contract includes a $5,000
payment to the employees as a compromise for rolling back the
latest 3.7% increase to their employees' hourly rates, and
payments ranging from $7,500 - $40,000 to be given to production
workers who consent to have their wages slashed of between $12 and
$14.50, depending on the job.

Skilled workers are also offered $50,000 as payment for their
agreement on an $8 reduction from their hourly wages.

The contract, once ratified will facilitate the recall of about 50
workers who were laid-off, the opening of 50 more positions, and
health coverage to families of new employees on permanent status,
UAW President Troy Newberry told the Detroit Free Press.

                       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: Verdict on Dealers' Shutdown Appeal on July 23
--------------------------------------------------------------
General Motors and the group of dealers who protested the
automaker's pronouncement to terminate their dealership contracts
will soon learn whether their petition to remain in business have
gained enough merits to prevent a shutdown, AOL's dailyfinance.com
reported on July 14, 2010.

By July 23, the dealers will know their fate, as this is date set
by the arbitrators to release their final verdict regarding the
dealers' plea to remain in business, Business Week said.

According to Daily Finance, nearly 1,600 dealers who were lined up
for closures appealed the automaker's decision, but a recent
calculation by government appointed arbitrators has determined
that only 35 cases remain in wait for a resolution.

As earlier reported, GM has restored many dealerships to meet a
rising demand for its vehicles as it emerged from bankruptcy,
including 900 dealers who received a reprieve from imminent
termination.

                       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 GROWTH: Hughes Heirs Call for Evidentiary Hearing Denied
----------------------------------------------------------------
Bankruptcy Law360 reports that heirs of late billionaire Howard
Hughes have failed to convince a judge to hold an evidentiary
hearing in their battle against General Growth Properties Inc.
over the valuation of claims mainly stemming from the sale of the
planned Nevada residential development Summerlin.

                       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)


GLOBAL CROSSING: 12 Directors Acquire 7,229 Restricted Shares Each
------------------------------------------------------------------
Twelve directors of Global Crossing Ltd. disclosed acquiring 7,229
shares of common stock on July 8, 2010.  The shares represent a
grant of restricted stock units that vest on July 8, 2011, made as
part of and pursuant to the Company's director compensation
package.

As a result of the acquisition:

     -- Lodewijk Christiaan Van Wachem, chairman of the board,
        raised his stake to 39,602;
     -- vice chairman Peter Seah Lim Huat raised his stake to
        32,751;
     -- director E. C. Aldridge Jr. raised his stake to 32,502;
     -- director Archie Clemins raised his stake to 31,502;
     -- Executive Committee Member Steven T. Clontz raised his
        stake to 30,502;
     -- director Donald L. Cromer raised his stake to 30,502;
     -- director Richard R. Erkeneff raised his stake to 34,002;
     -- director Jeremiah D. Lambert raised his stake to 30,502;
     -- director Lee Theng Kiat raised his stake to 28,815;
     -- director Charles E. Macaluso raised his stake to 30,502;
     -- director Michael E. Rescoe raised his stake to 30,502; and
     -- director Robert J. Sachs raised his stake to 30,502

The number of RSUs granted is based on the average closing price
of GX Common Stock on the NASDAQ Global Select Market for the 30
consecutive calendar days ending July 8, 2010.

                        About Global Crossing

Based in Hamilton, Bermuda, Global Crossing Limited (NASDAQ: GLBC)
is a global IP and Ethernet solutions provider with the world's
first integrated global IP-based network.  The company offers a
full range of data, voice and collaboration services with an
industry leading customer experience and delivers service to
approximately 40% of the Fortune 500, as well as to 700 carriers,
mobile operators and ISPs.  It delivers converged IP services to
more than 700 cities in more than 70 countries around the world.

The Company's balance sheet showed $2.3 billion in total assets
and $2.7 million in total liabilities, for a $400 million
stockholders' deficit as of March 31, 2010.  At December 31, 2009,
the Company had US$360 million in stockholders' deficit.

                           *     *     *

As reported by the Troubled Company Reporter on March 31, 2010,
Standard & Poor's Ratings Services raised all its ratings on
Global Crossing, including the corporate credit rating to 'B' from
'B-'.  The outlook is stable.


GREEN PLANET: Significant Operating Losses Cue Going Concern Doubt
------------------------------------------------------------------
Green Planet Group, Inc., filed on July 14, 2010, its annual
report on Form 10-K for the fiscal year ended March 31, 2010.

Semple, Marchal & Cooper, LLP, in Phoenix, Ariz., expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that the Company
has significant operating losses and negative working capital.

The Company reported a net loss of $15.7 million on $57.4 million
of revenue for fiscal 2010, compared with a net loss of
$2.7 million on $9.2 million of revenue for fiscal 2009.

The Company's balance sheet at March 31, 2010, showed
$15.1 million in assets and $35.1 million of liabilities, for a
stockholders' deficit of $19.9 million.

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

               http://researcharchives.com/t/s?66a6

Scottsdale, Ariz.-based Green Planet Group, Inc. (OTC BB: GNPG)
-- http://www.greenplanetgroup.com/-- is engaged in the
research, development, manufacturing and distribution of a variety
of products that improve overall energy efficiency with a specific
concentration on petroleum based energy sources.  The Company
currently has four wholly owned operating subsidiaries, EMTA Corp,
XenTx Lubricants, Inc., White Sands, L.L.C., and Lumea, Inc.


HAYES LEMMERZ: Plan of Reorganization Wins Court Approval
---------------------------------------------------------
The Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware confirmed Hayes Lemmerz International, Inc.,
et al.'s Plan of Reorganization, as adjusted, with respect To
Hayes Lemmerz International - Howell, Inc.

The Debtors related that they adjusted the Plan, which was
confirmed on November 3, 2009, because certain terms of the Plan
does not apply to the HLI - Howell, Hayes Lemmerz International -
Laredo, Inc., and HLI Realty, Inc.

The Court said that the adjusted Plan satisfied all of the
requirements of the Chapter 11 Bankruptcy Code.

               About Hayes Lemmerz International, Inc.

Originally founded in 1908, Hayes Lemmerz International, Inc.
(NasdaqGM: HAYZ) is a worldwide producer of aluminum and steel
wheels for passenger cars and light trucks and of steel wheels for
commercial trucks and trailers.  The Company is also a supplier of
automotive powertrain components.  The Company has global
operations with 23 facilities, including business, sales offices
and manufacturing facilities, located in 12 countries around the
world.  The Company sells products to every major North American,
Asian and European manufacturer of passenger cars and light trucks
and to commercial highway vehicle customers throughout the world.

The Company and certain affiliates filed for bankruptcy on
May 11, 2009 (Bankr. D. Del. Case No. 09-11655) after reaching
agreements with lenders holding a majority of the Company's
secured debt.  The Company's principal bankruptcy attorneys are
Skadden, Arps, Slate, Meagher & Flom, LLP.  Lazard Freres & Co.,
LLC, serves as the Company's financial advisors.  AlixPartners,
LLP, serves as the Company's restructuring advisors.  The Garden
City Group, Inc., serves as the Debtors' claims and notice agent.
As of January 31, 2009, the Debtors had total assets of
$1,336,600,000 and total debts of $1,405,200,000.

This is the Company's second trip to the bankruptcy court, dubbed
a Chapter 22, which was precipitated by an unprecedented slowdown
in industry demand and a tightening of credit markets.


HOTELS UNION SQUARE: W Hotel to Be Sold Under Chapter 11 Plan
-------------------------------------------------------------
Bill Rochelle at Bloomberg News reports that the Chapter 11 plan
filed on July 14 by W New York Union Square hotel's indirect
owners -- Hotels Union Square Mezz 1 LLC and Hotels Union Square
Mezz 2 LLC -- calls for the sale of the ownership interest in the
hotel to a partnership led by Host Hotels & Resorts Inc.  Many of
the details regarding the sale and the underlying settlement are
being kept secret.  Because all affected creditors are parties to
the settlement, the plan calls for creditors to vote even before
approval of the disclosure statement.  The proposed schedule calls
for holding one hearing in late August both to approve the
disclosure statement and to approve the plan with a confirmation
order.

                        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 effort.


HMSC CORPORATION: Moody's Affirms 'Ba3' Corporate Family Rating
---------------------------------------------------------------
Moody's Investors Service has affirmed the ratings of HMSC
Corporation (corporate family rating of B3), the holding company
for the Swett & Crawford Group, in light of the company's
combination with UK-based Cooper Gay to form one of the world's
largest wholesale and reinsurance brokers.  The combined group
places approximately $3.5 billion of premiums annually in the US,
London and international insurance markets.  The business
combination does not change HMSC's debt structure, although it
benefits creditors by offering more attractive scenarios for
repaying or refinancing the debt, which matures in 2014.  In the
near term, however, HMSC faces a weak US economy and a soft market
for commercial property & casualty insurance -- factors that have
caused its revenues and EBITDA to decline over the past couple of
years.  Moody's therefore maintains a negative rating outlook on
the name.

"The combination with Cooper Gay makes strategic sense," said
Bruce Ballentine, Moody's lead analyst for HMSC, "helping to
offset pressures in the US wholesale brokerage market." The
combination makes HMSC part of a larger, more diversified group
with lower financial leverage on a group basis.  The combined
group makes an attractive platform for an initial public stock
offering or other refinancing over the next couple of years.

On a stand-alone basis, however, HMSC's declining EBITDA and
limited debt amortization have led to a significant increase in
its debt-to-EBITDA ratio.  Based on Moody's calculations (which
often differ from company or covenant calculations), HMSC's
adjusted debt-to-EBITDA ratio grew from about 9x at year-end 2008
to about 13x for the trailing 12 months through March 2010, well
above the normal range for similarly rated peers.  As part of the
Cooper Gay transaction, HMSC has absorbed Cooper Gay's North
American operations, moderately improving HMSC's revenues, EBITDA
and financial leverage, albeit the leverage remains high for the
rating category.

HMSC's borrowings as of March 31, 2010, included a $274 million
first-lien term loan due in April 2014 (rated B3) and a
$110 million second-lien term loan due in October 2014 (rated
Caa1).  The company also has an undrawn $20 million first-lien
revolving credit facility expiring in April 2012 (rated B3),
although this facility contains a financial leverage covenant that
would preclude borrowings by HMSC at its current leverage ratio.
The term loan facilities contain no such covenant.  Throughout the
economic slowdown, HMSC has maintained adequate interest coverage
and free cash flow, helped in part by low market interest rates.
"We expect the company to continue generating positive free cash
flow and to maintain significant cash and equivalent balances in
lieu of having access to the revolving credit facility," said Mr.
Ballentine.

Moody's cited these factors that could lead to a stable rating
outlook for HMSC: (i) adjusted (EBITDA -- capex) coverage of
interest exceeding 1.8x, (ii) adjusted free-cash-flow-to-debt
ratio exceeding 4%, and (iii) adjusted debt-to-EBITDA ratio below
8x.

Moody's cited these factors that could lead to a downgrade of
HMSC's ratings: (i) adjusted (EBITDA -- capex) coverage of
interest below 1.2x, (ii) adjusted free-cash-flow-to-debt ratio
below 2%, (iii) cash and equivalents balance amounting to less
than one year's interest expense, or (iv) a separation from Cooper
Gay.

Moody's last rating action on HMSC occurred on December 22, 2009,
when the outlook was changed to negative from stable.

HMSC, based in Atlanta, Georgia, ranks among the largest US
wholesale insurance brokers.  Wholesale brokers act as
intermediaries between retail brokers and insurance carriers on
unusual risks.  The wholesalers place most such risks with excess
& surplus carriers or other specialty carriers.  HMSC generates
business through more than 30 branch offices across the US.  For
the trailing 12 months through March 2010, the company generated
revenues of $172 million.  Adjusted EBITDA for bank covenant
purposes was approximately $33 million.


IA GLOBAL: Significant Operating Losses Cue Going Concern Doubt
---------------------------------------------------------------
IA Global, Inc., filed on July 14, 2010, its annual report on
Form 10-K for the fiscal year ended March 31, 2010.

Sherb & Co., LLP, in New York, expressed substantial doubt about
the Company's ability to continue as a going concern.  The
independent auditors noted that the Company has incurred
significant operating losses, and has a working capital deficit as
of March 31, 2010.

The Company reported a net loss of $256,923 for fiscal 2010,
compared with a net loss of $20,241,930 for fiscal 2009.  During
the year ended March 31, 2010 and 2009, the Company had no
revenues from continuing operations.

The Company's balance sheet at March 31, 2010, showed $2,548,404
in assets and $3,082,158, for a stockholders' deficit of $533,754.

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

               http://researcharchives.com/t/s?66a1

San Francisco, Calif.-based IA Global, Inc. (OTCQB: IAGI.OB)
-- http://www.iaglobalinc.com/-- is a global services and
outsourcing company focused on growing existing businesses and
expansion through global mergers and acquisitions.  The Company
utilizes its current partnerships to acquire growth businesses in
its target sectors and markets at discounted prices.  The Company
is also actively engaging businesses that would benefit from its
business and marketing expertise, knowledge of Asian Markets, and
technology infrastructure.


IMAGEWARE SYSTEMS: Inks Two-Year Agreement with IBM Canada
----------------------------------------------------------
ImageWare Systems Inc. entered into an agreement with IBM Canada
to provide product, services and support under a two year contract
for the second phase of a biometrically enabled Restricted Access
Identity Card program for the Canadian Air Transportation Safety
Administration.

In the first phase of the RAIC program, ImageWare was a
subcontractor to Unisys Canada, whereby the Company provided
software development services under a $2.1 million agreement
announced in March, 2008 and completed in March, 2010.

In this second phase of the RAIC program, ImageWare is a
subcontractor to IBM Canada who was selected by the Canadian
government to be the prime contractor on the project.

                      About ImageWare Systems

Headquartered in San Diego, California, ImageWare Systems, Inc. is
a leader in the emerging market for software-based identity
management solutions, providing biometric, secure credential, law
enforcement and enterprise authorization.  Its ?flagship? product
is the IWS Biometric Engine.  Scalable for small city business or
worldwide deployment, the Company's biometric engine is a multi-
biometric platform that is hardware and algorithm independent,
enabling the enrollment and management of unlimited population
sizes.  The Company's identification products are used to manage
and issue secure credentials, including national IDs, passports,
driver licenses, smart cards and access control credentials.  Its
law enforcement products provide law enforcement with integrated
mug shot, fingerprint LiveScan and investigative capabilities.
The Company also provides comprehensive authentication security
software.

                           *     *     *

At June 30, 2009, the Company had total assets of $5,400,000
against total liabilities of $8,149,000, resulting in
shareholders' deficit of $2,749,000.


IMPLANT SCIENCES: Director Converts Promissory Note to Equity
-------------------------------------------------------------
Implant Sciences Corporation director Michael Turmelle disclosed
acquiring 1,250,000 company shares on July 15, 2010, in connection
with the conversion of a $100,000 Convertible Promissory Note
previously issued by the Company to Mr. Turmelle.

                      About Implant Sciences

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

The Company's balance sheet at March 31, 2010, showed
$6.22 million in total assets and $15.34 million in total
liabilities and $5 million in series E convertible preferred
stock, for a stockholder's deficit of $14.12 million.

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


IMPLANT SCIENCES: New CFO Deschenes Discloses Stock Options
-----------------------------------------------------------
Roger P. Deschenes, Implant Sciences Corp.'s Chief Financial
Officer, disclosed that has options to buy:

     -- 25,000 company shares, which options he may exercise until
        December 30, 2013;

     -- 75,000 company shares, which options he may exercise until
        February 5, 2019; and

     -- 100,000 company shares, which options he may exercise
        until June 30, 2019.

As reported by the Troubled Company Reporter, the Board of
Directors of Implant Sciences on June 30, 2010, named Mr.
Deschenes as the Company's Chief Financial Officer, effective as
of July 5.

                      About Implant Sciences

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

The Company's balance sheet at March 31, 2010, showed
$6.22 million in total assets and $15.34 million in total
liabilities and $5 million in series E convertible preferred
stock, for a stockholder's deficit of $14.12 million.

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


INNKEEPERS USA: Files Prepack Chapter 11; Gives Equity to Lehman
----------------------------------------------------------------
Innkeepers USA Trust has reached various agreements with certain
of its key constituents regarding a comprehensive financial
restructuring to be effectuated through a pre-arranged plan of
reorganization under chapter 11 of the United States Bankruptcy
Code.

Collectively, the agreements provide for a significant
deleveraging of Innkeepers' balance sheet, and allow Innkeepers to
maintain its valuable portfolio of hotel properties.  Among other
things, these agreements contemplate Lehman ALI Inc., one of
Innkeepers' largest prepetition secured lenders, converting its
secured claims to substantially all of the equity in the
reorganized company.  In addition, Marriott International, Inc.,
one of Innkeepers' significant franchisors, has agreed on the
treatment of its franchise agreements, subject to Innkeepers'
ability to perform enhancement projects on certain of its hotels.
Innkeepers has secured commitments for two debtor-in-possession
(DIP) credit facilities totaling approximately $67 million, which
Innkeepers will invest in the improvement of its hotel portfolio.

"Our company is entering into this last phase of its ongoing
restructuring process in order to return to a position of
financial and operational strength," said Marc Beilinson, the
Company's Chief Restructuring Officer.  "We are generating
positive operational cash flows and, along with our two DIP
financing agreements, we have the resources to meet our ongoing
financial needs.  We and our third party managers will continue to
operate our hotels and serve our guests in the ordinary course,"
said Beilinson.

Innkeepers has sought court relief designed to ensure a seamless
transition into chapter 11 that will allow it to continue to
manage its business and its commercial relationships in the
ordinary course.  As a result of these arrangements, Innkeepers
expects to emerge from its court-supervised restructuring in short
order.  The Company is encouraged by its lenders' participation in
the process; this will create an opportunity to work with all of
its constituents to address its debt issues and internally
reorganize its business on an expedited timeframe.  Bryan Marsal,
CEO of Lehman Brothers Holdings Inc. and co-founder of global
professional services and restructuring firm Alvarez & Marsal
stated, "We are delighted to have reached an agreement that
balances the needs of all parties.  We look forward to actively
working with Innkeepers to help it complete a successful
restructuring and emerge from Chapter 11."

"A sustainable, long-term capital structure and improved hotel
properties will pave the way to success in the upscale extended-
stay hotel market and in the other segments of the hotel business
in which its properties compete," said Mr. Beilinson.  "We are
confident we will emerge from this process as a stronger, more
competitive business with a rationalized financial structure and
clearly enhanced fundamentals."

The Chapter 11 cases are pending in the United States Bankruptcy
Court for the Southern District of New York.  For access to court
documents and other general information about the Chapter 11
cases, please visit http://www.omnimgt.com/innkeepers

                       $1.42 Billion in Debt

The Wall Street Journal's Mike Spector reports that Innkeepers is
laboring under $1.42 billion in debt.  According to the Journal,
Innkeepers took on hundreds of millions of dollars in debt in a
$1.5 billion buyout by Apollo Investment Corp.  Apollo Investment,
which receives advisory services from an affiliate of private-
equity firm Apollo Global Management, purchased the hotel company
around the top of the market in 2007.  Apollo declined to comment.

Pre-bankruptcy, Innkeepers worked with law firm Kirkland & Ellis
and investment bank Moelis & Co. to restructure its balance sheet.
As of July 19, the company remained in default on all 11 of its
loan agreements, according to court records.

On June 21, Innkeepers suspended payment of its 2010 second
quarter dividend on its 8% Series C Cumulative Redeemable
Preferred Shares.  Innkeepers' board of trustees said it would
continue to review future quarterly dividends on the 8% Series C
Cumulative Redeemable Preferred Shares based on financial and
economic conditions and other appropriate factors.

The Journal notes Innkeepers tapped $825 million in securitized
mortgages in 2007 from a business called Lehman ALI Inc. on 45
hotels.  The loans were then carved up and sold to investors as
collateralized mortgage-backed securities.  Those obligations were
recently transferred to a special servicer, which deals with
distressed real-estate loans.

Bryan Marsal, Lehman's current chief executive and co-founder of
turnaround firm Alvarez & Marsal, said in a statement that
Lehman's bankruptcy estate would work with Innkeepers on its
restructuring and feels the current deal "balances the needs of
all parties."

The Journal also reports Innkeepers had run afoul of Marriott
International Inc., which provides its brand names to many of the
company's hotels.  Marriott had threatened to pull its name from
hotels amid Innkeepers' alleged failures to maintain the
properties to Marriott's standards.

The Journal relates that, according to court documents, Marriott
agreed on June 25 to avoid removing its brand name from the hotels
in exchange for a pledge from Innkeepers to complete improvement
work on 23 Marriott-branded hotels.

The Journal says about $68 million in new financing from creditors
will help Innkeepers make those improvements.  In turn, Lehman
backed Innkeepers' restructuring plan on condition that Marriott
stand down.

                   About Innkeepers USA Trust

Innkeepers USA Trust is a real estate investment trust and a
leading owner of upscale and extended-stay hotel properties
throughout the United States.  The company currently owns
interests in 72 hotels with approximately 10,000 rooms in 19
states and the District of Columbia.


INVISTA BV: S&P Raises Corporate Credit Rating to 'BB-'
-------------------------------------------------------
Standard & Poor's Ratings Services said that it raised its
corporate credit rating on INVISTA B.V. to 'BB-' from 'B+'.  At
the same time, S&P raised the senior unsecured debt rating on the
$325 million remaining balance of notes due 2012 to 'BB-' (the
same as the corporate credit rating) with a recovery rating of '4'
from 'B' with a recovery rating of '5'.  These ratings indicate
S&P's expectation of average (30%-50%) recovery for the holders of
these notes in the event of a payment default.

In addition, S&P removed the ratings from CreditWatch where they
had been placed with positive implications on May 28, 2010.  The
outlook is stable.

"The ratings on INVISTA reflect its weak business risk profile and
significant financial risk profile," said Standard & Poor's credit
analyst Cynthia Werneth.

Nevertheless, since early 2009, financial performance has
strengthened significantly as a consequence of demand improvement,
steps INVISTA took to substantially reduce capacity across most of
its businesses, and the benefits of more than $2.4 billion that
its owners invested since the third quarter of 2008.  S&P expects
that better economic conditions in 2010 versus 2009, and
restructuring benefits, should lead to further gradual
strengthening of the credit profile.

"However, the company faces meaningful challenges in many of its
businesses that could exert a downward pull on earnings and cash
flow," Ms. Werneth said.

The outlook is stable.  There is some flexibility at the ratings
to weather a slowing global economy, difficult conditions in some
key end markets such as housing and commercial construction, or
other modest adverse developments.


ITAL STONE: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Ital Stone, Inc.
        3750 W. Quail Avenue
        Las Vegas, NV 89118

Bankruptcy Case No.: 10-23098

Chapter 11 Petition Date: July 14, 2010

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

Judge: Bruce A. Markell

Debtor's Counsel: Ambrish S. Sidhu, Esq.
                  Sidhu Law Firm
                  810 S. Casino Center Blvd., Suite 104
                  Las Vegas, NV 89101
                  Tel: (702) 384-4436
                  Fax: (702) 384-4437
                  E-mail: asidhu@sidhulawfirm.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/nvb10-23098.pdf

The petition was signed by Diana Demaria-Ventre, CFO.


JACKSON HEWITT: Deloitte & Touche Raises Going Concern Doubt
------------------------------------------------------------
Jackson Hewitt Tax Service Inc. filed on July 14, 2010, its annual
report on Form 10-K for the fiscal year ended April 30, 2010.

Deloitte & Touche LLP, in Parsippany, N.J., expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that there is uncertainty regarding
the Company's ability to have sufficient funding to meet its
obligations.

The Company reported a net loss $272.3 million on $213.8 million
of revenue for fiscal 2010, compared with net income of
$19.5 million on $248.3 million of revenue for fiscal 2009.

Jackson Hewitt's 2010 fiscal year reported results reflect the
impact of a non-cash goodwill impairment charge of $274.1 million,
and a non-cash tax valuation charge of $11.5 million.

"The 2010 tax season was a challenging one for Jackson Hewitt, as
the loss of 50% of our refund anticipation loan ("RAL") product
created an impediment that we could not fully overcome," said
Harry W. Buckley, Jackson Hewitt's president and chief executive
officer.  "Despite the solid efforts of our dedicated employees
and franchisees and cost control measures implemented during the
year, the RAL issue, coupled with a soft economy, high
unemployment and increased competition, resulted in a year of
declining tax returns prepared, revenues and earnings."

"The 2010 fiscal year is behind us and we are squarely focused on
the future," continued Mr. Buckley.  "We have already completed a
new Strategic Plan aimed at improving our operating and financial
performance beginning in 2011.  Over the past couple of months,
representatives from our franchise community, along with Jackson
Hewitt corporate staff and field operations personnel, have worked
diligently and collaboratively to develop our plan.  The plan
spells out several critical must have actions for the 2011 tax
season, including reduced costs, resolution of our RAL product
issue and the completion of a new franchise agreement renewal
program, as well as several foundational and growth initiatives
that can drive enhanced operational and financial performance in
this upcoming tax season.  Consistent with our plan, we began the
2011 fiscal year in May by announcing an organizational
restructuring, which will incrementally reduce our 2011 fiscal
year pre-tax expenses by approximately $5 million, while
increasing our overall efficiency and accountability."

The 13.9% revenue decline resulted from a lower number of tax
returns prepared and reduced financial product fees in connection
with the limited RAL program, offset in part by slightly higher
average revenue per return.

Total debt outstanding at year-end was $274 million.  Under
Jackson Hewitt's Amended and Restated Credit Facility, debt now
consists of a $200 million term loan, a $70 million non-revolving
credit commitment and a $105 million revolving credit facility,
which had $4 million drawn down at April 30, 2010.

             2010 Fourth Quarter Consolidated Results

For the 2010 fourth quarter, total revenues were $125.6 million,
versus $141.2 million in the 2009 fourth quarter, reflecting a
decline of 11.0% due primarily to the loss of 50% of the RAL
program and its resulting reduction in the number of tax returns
prepared versus last year's fourth quarter, offset in part by
increased revenues per tax return.

The 2010 fourth quarter reported net income was $48.1 million,
versus reported net income of $41.3 million in the 2009 fourth
quarter.

                          Balance Sheet

The Company's balance sheet at April 30, 2010, showed
$346.4 million in assets and $371.5 million of liabilities, for a
stockholders' deficit of $25.1 million.

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

               http://researcharchives.com/t/s?66a3

A full-text copy of the press release announcing the Company's
fiscal 2010 annual results is available for free at:

               http://researcharchives.com/t/s?66a4

Jackson Hewitt Tax Service Inc. (NYSE: JTX)
-- http://www.jacksonhewitt.com/-- provides computerized
preparation of federal, state and local individual income tax
returns in the United States through a nationwide network of
franchised and company-owned offices operating under the brand
name Jackson Hewitt Tax Service(R).  The Company is based in
Parsippany, New Jersey.

In connection with their tax return preparation experience, the
Company's customers may select various financial products to suit
their needs, including refund anticipation loans ("RALs") in the
offices where such financial products are available.  A RAL is a
loan made by a third party financial institution to a customer and
secured by a customer's anticipated federal tax refund.  The loan
amount, less applicable fees and charges, including tax return
preparation fees, is generally disbursed to the customer within
approximately one day from the time the tax return is
electronically filed with the IRS.


JDG INVESTMENTS: Section 341(a) Meeting Scheduled for Aug. 13
-------------------------------------------------------------
The U.S. Trustee for the Eastern District of North Carolina will
convene a meeting of JDG Investments, Inc.'s creditors on
August 13, 2010, at 10:00 a.m.  The meeting will be held at USBA
Creditors Meeting Room, Two Hannover Square, Room 610, 434
Fayetteville Street Mall, Raleigh, NC 27601.

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

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

Selma, North Carolina-based JDG Investments, Inc., filed for
Chapter 11 bankruptcy protection on July 8, 2010 (Bankr. E.D.N.C.
Case No. 10-05450).  Jason L. Hendren, Esq., at Hendren & Malone,
PLLC, assists the Company in its restructuring effort.  The
Company estimated its assets and debts at $10,000,001 to
$50,000,000.


JENNIFER CONVERTIBLES: Files Voluntary Petition for Chapter 11
--------------------------------------------------------------
Jennifer Convertibles, Inc., disclosed that the company and its
subsidiaries have filed a voluntary petition under Chapter 11 of
the United States Bankruptcy Code (Bankr. S.D.N.Y. Case No. 10-
13779).  The Company has reached an agreement with its largest
creditor and key foreign supplier Haining Mengnu Co. Ltd. Group,
under which Mengnu will continue to supply goods to the Company
and will convert a large portion of its pre-petition debt into
common equity of the Company.  The agreement is in the form of a
Plan Support Agreement which will be incorporated into a Plan of
Reorganization and thereafter subject to approval of the
bankruptcy court and any other regulatory approval.

The decision to file for Chapter 11 protection was based primarily
on lack of liquidity which resulted from the substantial losses
the Company has incurred in recent periods.  The Company was
unsuccessful in its efforts to obtain alternative financing that
would allow it to continue operating outside of bankruptcy, so the
Board of Directors determined that a Chapter 11 reorganization was
in the best interests of the Company, its customers, creditors,
employees, and other interested parties.

The Company intends to continue its business operations throughout
the administration of the bankruptcy case and emerge as a going
concern post-petition.  The Chapter 11 filing is not expected to
negatively impact the fulfillment of existing or future customer
orders.  Subject to any required approvals, the Company will use
the proposed financing plan from its supplier, along with cash
generated from continuing operations, to meet its working capital
needs during the reorganization process.

Harley Greenfield, CEO and Chairman of the Board, stated, "Despite
all of the issues we have faced over the past several years, we
continue to provide some of the industry's best home furnishings
values.  We have negotiated several key agreements with our
suppliers and, in order to achieve profitability, are exiting
markets in which we previously operated in order to properly
realign our business during the reorganization.  Due to the
quality of our products and our people, I am confident that we
will emerge as a stronger organization that will better satisfy
our customers, suppliers and employees.  By agreeing with Mengnu
in advance of the filing, we will be in a great position to
proceed with an expeditious restructuring through bankruptcy which
will provide us with a viable capital structure as well as
additional financing.  This agreement also assures that our
obligations to our customers will continue to be met both now and
in the future."

The Company has filed or will be filing a series of first-day
motions in the bankruptcy court in the Southern District of New
York, seeking to ensure that there will be limited disruption of
its operations during the reorganization process.  Although
Chapter 11 law prohibits payments for any invoices that were
outstanding at the time of the filing without prior court
approval, it does provide greater protection to those suppliers
who prospectively agree to continue working with the Company.
Approval of the bankruptcy reorganization, and all principal steps
related thereto, will be subject to numerous conditions,
including, but not limited to, a definitive written plan of
reorganization approved by the federal bankruptcy court located in
New York City.  The expected plan of reorganization does not
contemplate that there will be any continuing value for the
present stockholders of the Company.

                  About Jennifer Convertibles

Jennifer Convertibles is the owner and licensor of the largest
with 144 Jennifer Convertibles(R) stores and is the largest
specialty retailer of leather furniture with 13 Jennifer Leather
stores.  Following a transaction with the former affiliated
private company, as of February 25, 2010, the Company owns 157
stores and operates five licensed Ashley Furniture HomeStores.

The petition listed assets and liabilities of $10,000,000 to
$50,000,000.


KAREN THOMAS: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Karen Thomas
        2091 S. Zuni
        Pahrump, NV 89048

Bankruptcy Case No.: 10-23180

Chapter 11 Petition Date: July 15, 2010

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

Judge: Mike K. Nakagawa

Debtor's Counsel: Richard E. Hawkins, Esq.
                  4680 Polaris Sst., Suite 250
                  Las Vegas, NV 89103
                  Tel: (702) 508-8462
                  E-mail: HawkinsLawFirm@gmail.com

Scheduled Assets: $602,850

Scheduled Debts: $5,013,430

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

The petition was signed by Ms. Thomas.


KB HOME: S&P Downgrades Corporate Credit Rating to 'B+'
-------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Los Angeles-based KB Home to 'B+' from 'BB-' in
anticipation of weak profitability.  At the same time, S&P lowered
its rating on nearly $1.7 billion of senior unsecured notes to
'B+' from 'BB-'.  S&P's '4' recovery rating on the notes is
unchanged and continues to reflect S&P's expectation for an
average (30%-50%) recovery in the event of default.  S&P revised
its outlook on the company to stable from negative.

"S&P's rating on KB Home reflects its expectation that this Los
Angeles-based homebuilder's bottom line will remain under pressure
through 2011, given the unsteady overall housing market recovery,
KB Home's weaker new orders, and the company's substantial
overhead costs," said Standard & Poor's credit analyst James
Fielding.  "S&P's ratings also continue to reflect risks
associated with the company's highly leveraged financial profile.
However, S&P acknowledge that operating losses have narrowed
significantly due to lower impairment charges."

S&P's stable outlook reflects its view that KB Home has adequate
liquidity to invest in new land opportunities that could position
the company for more robust top-line growth when the housing
market recovery eventually takes firmer hold.  S&P would raise its
ratings if the company returns to profitability more quickly than
S&P now expects as a consequence of the addition of new
communities, continued solid gross margins, and lower SG&A costs.
Conversely, S&P would lower its ratings if the housing market
weakens further and the company draws down its cash balances
significantly (below $500 million), perhaps to settle its off-
balance-sheet obligations.


KINGDOM DONUTS: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Kingdom Donuts, LLC
        9183A Central Avenue
        Capital Heights, MD 20743

Bankruptcy Case No.: 10-75454

Chapter 11 Petition Date: July 14, 2010

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

Judge: Dorothy Eisenberg

Debtor's Counsel: Michael S. Amato, Esq.
                  Ruskin Moscou Faltisckek PC
                  1425 RXR Plaza
                  East Tower, 15th Floor
                  Uniondale, NY 11556-1425
                  Tel: (516) 663-6517
                  Fax: (516) 663-6717
                  E-mail: mamato@rmfpc.com

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

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

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

The petition was signed by Allen Pj Paik, member.

Debtor-affiliates that filed separate Chapter 11 petitions on July
14, 2010:


   Debtor                              Case No.
   ------                              --------
1333 Donuts, LLC                       10-_____
Benfield Road Donuts, LLC
Blue Point Ventures, LLC
CDDC Holding Company, LLC
CDDC Acquisition Company, LLC
Commack Road donuts, LLC
D3C, LLC
Five Points Development Partners, LLC
FPSDA I, LLC
FPSDA II, LLC
Highbridge Donuts, LLC
Kingdom Donuts, LLC
Metro Shops Donuts, LLC
Middle Country Road Donuts, LLC
Miller Place Donuts, LLC
Mountain Road Donuts, LLC
Upper Marlboro, LLC


L.A. & G. LAREDO: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: L.A. & G. Laredo Investment Co., LLC
        3101 West Military Highway
        McAllen, TX 78503

Bankruptcy Case No.: 10-20572

Chapter 11 Petition Date: July 15, 2010

Court: United States Bankruptcy Court
       Southern District of Texas (Corpus Christi)

Judge: Richard S. Schmidt

Debtor's Counsel: David S. Gragg, Esq.
                  Langley & Banack Inc
                  745 Mulberry, Suite 900
                  San Antonio, TX 78212
                  Tel: (210) 736-6600
                  Fax: (210) 735-6889
                  E-mail: dgragg@langleybanack.com

Scheduled Assets: $637,051

Scheduled Debts: $3,114,492

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

The petition was signed by Aurelio Aleman, president.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
USA Dry Van Logistics, LLC et al.      10-20102    02/02/10


LA VISTA: Files for Bankruptcy to Sell Off Assets
-------------------------------------------------
Jacob Dirr at Business Journal at Austin reports that La Vista
Partners LP filed for bankruptcy, seeking to sell a project as it
attempts to reorganize its debt.  The Company said it has been
trying to sell the project for $10.3 million since May.

Mr. Dirr, citing papers filed with the court, says the Company
listed assets of less than $10 million and debts of more than
$10 million.  The Company owes $3.7 million to Precept Buildings
and more than a disputed $4.1 million claim to five creditors.

La Vista, aka The Fondren Building, operates a property
development company.


LEHMAN BROTHERS: Bank of New York Fights with Creditors over Plan
-----------------------------------------------------------------
Bankruptcy Law360 reports that Bank of New York Mellon Trust Co.
is fighting creditors of Lehman Brothers Holdings Inc. over their
objection to the debtors' blueprint for reorganization, saying
their challenge appears to have been made on behalf of a few
individual bondholders who are merely grabbing for a higher
recovery at the expense of subsidiary creditors.

                       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)


LEXINGTON PRECISION: Rubber Group Unsecureds Vote 'No' on Plan
--------------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Lexington Precision
Corp. will be facing opposition at the July 21 confirmation
hearing for its Chapter 11 plan.  Unsecured creditors of the
operating company Lexington Rubber Group voted "no" for the Plan.
As a result, the Plan will require using the cramdown procedure in
order to be confirmed.  The Plan calls for the class to be paid in
full over ten quarterly installments.

According to the report, the unsecured creditors' committee is
contending the proposed interest rate, 6.02%, is too low.  The
Committee is urging the judge to impose a 15.5% rate post
bankruptcy, the same rate to be given one of the secured term
loans under the plan.  The Plan provides that the judge will
determine the proper interest rate if cramdown is necessary.

Mr. Rochelle notes that in a cramdown, unsecured creditors must be
paid in full, with interest, else lower classes of debt and equity
can receive nothing.  All other creditor classes voted for the
plan, including unsecured and subordinated note creditors of the
parent Lexington Precision.

The Plan, the report relates, will be funded in part by the sale
of $22 million in stock, at $10 a share, to Commercial Finance
Services 407 LLC.  Subordinated noteholders are being given the
chance to change their votes to "no" because they were only told
this week that their stock recovery would be diluted by 5.4% on
account of equity given to the so-called plan investors.  The plan
reduces debt by more than $50 million while giving holders of
senior subordinated notes an estimated 51% recovery.  Subordinated
noteholders, owed $34.18 million in principal, may elect between
taking 51% in cash or swap for stock at roughly $20 of debt for
each new share.

Bloomberg continues that general unsecured creditors of Lexington
Precision are estimated to have an 85.4% recovery, according to
the disclosure statement.  They are to have 8% in cash on
implementation of the plan, with the remainder paid 8.6% in cash
at each of the ensuing nine quarters.  The disclosure statement
says that the present value of the payments is 80%.

Alternatively, unsecured creditors can elect to receive 51% paid
in cash.  Asbestos claims are to be paid in full with insurance
proceeds. If insurance is insufficient, the remainder will be
paid over time like general unsecured creditors.  Secured debt
under the Company's plan is to be paid in full through revised
credit agreements.

                    About Lexington Precision

Headquartered in New York, Lexington Precision Corp. --
http://www.lexingtonprecision.com/-- manufactures tight-tolerance
rubber and metal components for use in medical, automotive, and
industrial applications.  As of February 29, 2008, the Company
employed about 651 regular and 22 temporary personnel.

The Company and its affiliate, Lexington Rubber Group Inc., filed
for Chapter 11 protection on April 1, 2008 (Bankr. S.D.N.Y. Lead
Case No.08-11153).  Christopher J. Marcus, Esq., and Victoria
Vron, Esq., at Weil, Gotshal & Manges, represent the Debtors in
their restructuring efforts.  The Debtors selected Epiq Systems -
Bankruptcy Solutions LLC as claims agent.  The U.S. Trustee for
Region 2 appointed six creditors to serve on an official committee
of unsecured creditors.  Paul N. Silverstein, Esq., and Jonathan
Levine, Esq., at Andrews Kurth LLP, represent the Committee as
counsel.

On June 30, 2008, the Debtors filed with the Bankruptcy Court a
plan of reorganization.  It was amended twice, the latest
amendment dated December 8, 2008.  The Debtors currently plan to
complete the liquidation of their connector-seal business before
seeking approval of the Amended Plan.


LITTLE TOKYO: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Little Tokyo Partners, L.P.
        fka New Otani Hotel
        aka Kyoto Grand Hotel & Gardens
        aka Little Tokyo Partners - Weller Court
        aka Weller Court
        aka Littlte Tokyo Partners - Kyoto Grand Hotel & Gardens
        c/o 3D Investments, LLC
        1880 Century Park East, Suite 810
        Los Angeles, CA 90067

Bankruptcy Case No.: 10-39113

Chapter 11 Petition Date: July 15, 2010

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

Judge: Richard M. Neiter

Debtor's Counsel: Neeta Menon, Esq.
                  1901 Ave of the Stars 12th Floor
                  Los Angeles, CA 90067
                  Tel: (310) 228-5645
                  Fax: (310) 228-5788
                  E-mail: nmenon@stutman.com

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

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

The petition was signed by David Goddard, chief financial officer.

Debtor's List of 20 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Able Engineering          Services               $76,901
Services
868 Folsom Street
San Francisco, CA 94107

LA DWP                    Utility Services       $71,128
P.O. Box 30808
Los Angeles, CA 90030

Crestline Hotels &        Management fees        $38,888
Resorts
3950 University Drive, Suite 301
Fairfax, VA 22030

State of California       Sales & Use            $37,810
Board of Equalization     Taxes

Marukai Corporation       Security Deposit       $32,423

Hugh Marsh & Neva Lima    ADA Claims             Unknown

Kinokuniya Bookstores     Security Deposit       $26,000

Hodes Parking             Parking fees           $20,445

Gateway Security, Inc.    Trade                  $19,843

House Foods America Corp  Security Deposit       $17,495

LA DWP                    Utility Services       $15,851

K & M Foodservice         Trade                  $12,147

Jin Sung Lee & Jae        Security Deposit       $10,311
Hee Lee

Waxie Sanitary Supply     Trade                  $7,535

KTWV-FM                   Trade                  $6,000

Yee Yuen Linen Service    Trade                  $5,945

Room Service Amenities    Trade                  $5,923

Pasadena Baking Wholesale Trade                  $5,858

Commercial Waste Service  Trade                  $5,665
Inc.

Simplex Grinnell          Trade                  $5,407


LOWER BUCKS: Court Fixes August 20 as Bar Date for All Claims
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Pennsylvania
has established August 20, 2010, at 4:00 p.m., prevailing Eastern
time, as the deadline for any individual or entity, and
governmental units, to file proofs of claim against Lower Bucks
Hospital.

Proof of claim forms must be either (i) mailed to Donlin Recano &
Company, Inc., Re: Lower Bucks Hospital, et al., P.O. Box 2042,
Murray Hill Station, New York, NY 10156; or (ii) delivered by
overnight courier or messenger to Donlin Recano & Company, Inc.,
Re: Lower Bucks Hospital, et al, 419 Park Avenue South, Suite
1206, New York, NY 10016.

Bristol, Pennsylvania-based Lower Bucks Hospital is a nonprofit
hospital based in Bristol, Pennsylvania.  The Hospital is
currently licensed to operate 183 beds.  Together with affiliates
Advanced Primary Care Physicians and Lower Bucks Health
Enterprises, Inc., Lower Bucks owns a 36-acre campus with several
medical facilities.  The Hospital's emergency room serves
approximately 30,000 patients annually.  For the fiscal year
ending June 30, 2009, Lower Bucks had $114 million in consolidated
revenues.

The Hospital filed for Chapter 11 bankruptcy protection on
January 13, 2010 (Bankr. E.D. Pa. Case No. 10-10239).  The
Hospital's affiliates -- Lower Bucks Health Enterprises, Inc, and
Advanced Primary Care Physicians also filed Chapter 11 petitions.
Jeffrey C. Hampton, Esq., and Adam H. Isenberg, at Saul Ewing LLP,
assist the Hospital in its restructuring effort.  Donlin, Recano &
Company, Inc., is the Hospital's claims and notice agent.  The
Hospital listed $50,000,001 to $100,000,000 in assets and
$50,000,001 to $100,000,000 in liabilities.


MAC MAYER: Voluntary Chapter 11 Case Summary
--------------------------------------------
Joint Debtors: Mac R. Mayer
               Dianne H. Mayer
               8072 S Rafael Way
               Boise, ID 83709-7386

Bankruptcy Case No.: 10-02238

Chapter 11 Petition Date: July 14, 2010

Court: United States Bankruptcy Court
       District of Idaho (Boise)

Judge: Terry L. Myers

Debtor's Counsel: Randal J. French, Esq.
                  P.O. Box 2730
                  Boise, ID 83701-2730
                  Tel: (208) 383-0090
                  Fax: (208) 383-0412
                  E-mail: rfrench@bauerandfrench.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 the Joint Debtors.


MARK J GINSBURG: Has Until October 7 to File Reorganization Plan
----------------------------------------------------------------
The Hon. Raymond B. Ray of the U.S. Bankruptcy Court for the
Southern District of Florida extended until October 7, 2010, Mark
J. Ginsburg's exclusive period to file a Plan of Reorganization.

Lighthouse Point, Florida-based Mark J. Ginsburg, aka Mark
Ginsburg and Dr. Mark Ginsburg, filed for Chapter 11 bankruptcy
protection on February 9, 2010 (Bankr. S.D. Fla. Case No. 10-
13056).  Chad P. Pugatch, Esq., who has an office in Ft.
Lauderdale, Florida, assists the Company in its restructuring
effort.  The Company has assets of $16,675,693 and total debts of
$47,823,735.


MARKET STREET: Has Until December 31 to File Reorganization Plan
----------------------------------------------------------------
The Hon. Hon. Elizabeth W. Magner of the U.S. Bankruptcy Court for
the Eastern District of Louisiana extended Market Street
Properties, LLC's exclusive periods to file and solicit
acceptances for the proposed Plan of Reorganization until
December 31, 2010, and March 2, 2011, respectively.

Oceanside, New York-based Market Street Properties, LLC, filed for
Chapter 11 bankruptcy protection on December 23, 2009 (Bankr. E.D.
La. Case No. 09-14172).  Christopher T. Caplinger, Esq., who has
an office in New Orleans, Louisiana, assists the Company in its
restructuring effort.  The Company listed $10,000,001 to
$50,000,000 in assets and $10,000,001 to $50,000,000 in
liabilities.


MEDICAL STAFFING: Gets Court OK to Reject 7 Leases
--------------------------------------------------
Medical Staffing Network Holdings, Inc., et al., sought and
obtained authorization from the Hon. Erik P. Kimball of the U.S.
Bankruptcy Court for the Southern District of Florida to reject
seven leases of non-residential real property, all of which were
vacated pre-petition and no longer used by the Debtors.

MSN sought permission to reject three unexpired lease agreements
for equipment that is no longer being used by MSN.  Immediate
rejection will preclude the accrual and assertion of
administrative expense claims against the Debtors' Chapter 11
estates.

The Debtors are parties (lessees) to numerous Lease Agreements
(collectively, the Lease Agreements) with (i) Coolidge 585
Stewart, LLC.; (ii) SVF, LLC; (iii) The Commerce Centre Venture,
LLP; (iv) EOP - One Lincoln Centre, LLC; (v) MSC Sand Lake
IV, Inc.; (vi) NB MS NEBC, LLC; and (vii) Grandview Office Group
regarding non-residential real property located in the states of
New York, California, Maryland, Illinois, Florida, Massachusetts
and Pennsylvania.  For one property, located in Oakbrook Terrace,
Illinois, InteliStaf Holdings subleases space to COMSYS
Information Technology Services, Inc. (COMSYS).  Although
InteliStaf Holdings has not paid rent on such Lease Agreement
since March, COMSYS has been remitting its rent payments for the
subleased space directly to the landlord, EOP - One Lincoln
Centre, LLC since that time.  As such, InteliStaf Holdings would
not be liable for any cure costs related to the sublease.  The
termination dates of the Lease Agreements vary, but the
termination dates are all subsequent to the Petition Date.

The Debtors sought authority to reject the Lease Agreements on an
emergency basis, effective as of the Petition Date, because the
Debtors have closed those branch locations, pre-petition, and no
longer need or use the premises that are the subject of the Lease
Agreements.

Prior to the Petition Date, MSN entered into three equipment lease
agreements, through which Pitney Bowes provides a postage meter
and related equipment and Precision Print Solutions provides
record storage, destruction and imaging services (collectively,
the Equipment) to MSN.  The termination dates of the Equipment
Leases are July 2011, February 2014 and September 2014,
respectively.  MSN said that it no longer needs or uses the
Equipment, and seeks to reject the Equipment Leases, effective as
of the Petition Date.

Through rejection of the Lease Agreements and Equipment Leases,
the Debtors seek to preclude the accrual of administrative expense
claims against their Chapter 11 estates.

The Court ruled that any proof of claim for damages arising from
the rejection of the Lease Agreements and Equipment Leases must be
filed with the Court upon the later of (i) the general claims bar
date established in these cases, which is September 30, 2010, or
(ii) within 30 days after the entry of the court order.

A list of the lease agreements is available for free at:

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

                      About Medical Staffing

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

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


MEDICAL STAFFING: Gets OK to Reject Goldman Sachs Contract
----------------------------------------------------------
Medical Staffing Network Holdings, Inc., et al., sought and
obtained authorization from the Hon. Erik P. Kimball of the U.S.
Bankruptcy Court for the Southern District of Florida to reject a
contract with Goldman Sachs & Co.

The Debtors sought the rejection of the agreement on an emergency
basis as rejection effective as of the Petition Date will preclude
the accrual of administrative expense claims against the Debtor's
Chapter 11 estate.

On September 2, 2008, the Debtor MSN Holdings entered into an
engagement letter (the Agreement) with Goldman Sachs, pursuant to
which Goldman Sachs was engaged as a financial advisor to the
Debtors in connection with the possible sale of all or a portion
of MSN Holdings.  Pursuant to the Agreement, in the event a
purchase of 50% or more of the common stock or the assets of MSN
Holdings was accomplished, Goldman Sachs would charge a
transaction fee of 1.5% of the aggregate consideration paid in
such transaction, but in no event less than $3.5 million.  In the
event of a transaction for less than 50%, the transaction fee
would be agreed to between Goldman Sachs and MSN Holdings.

The Agreement also contained a provision (the Termination
Provision) which stated, "Our services may be terminated by you or
us at any time with or without cause effective upon receipt of
written notice to that effect.  We will be entitled to the
applicable transaction fee set forth above in the event that at
any time prior to the expiration of 18 months after such
termination (i) an agreement is entered into with respect to a
sale of all or a portion of the stock or assets of the Company
which is eventually consummated, or (ii) an Agreement is entered
into pursuant to which a Payment is eventually made."

In a letter to Goldman Sachs dated January 31, 2010 (the
Termination Letter), MSN Holdings terminated the Agreement.  The
Termination Letter acknowledged the obligations contained in the
Termination Provision.

The Court ruled that any proof of claim for damages arising from
the rejection must be filed with the Court upon the later of
(i) the general claims bar date established in these cases, which
is September 30, 2010, or (ii) within 30 days after the entry of
the court order.

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

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


MICHAELS STORES: Elaine Crowley to Resign as Sr. Vice President
---------------------------------------------------------------
Elaine D. Crowley informed Michaels Stores Inc. that she would
resign from her position as the Company's Senior Vice President-
Chief Financial Officer and Controller, effective August 6, 2010.

Effective August 6, 2010, Richard S. Jablonski will assume the
additional role of interim Controller of the Company, and shall
serve as interim principal accounting officer in such capacity.
Mr. Jablonski has served as Vice President of Financial Planning
and Analysis since April 2010 and as Vice President - Finance and
Controller from February 2008.  Mr. Jablonski previously served as
principal accounting officer from April 2008 to April 2010.

Prior to joining the Company, he was Vice President of Finance at
RadioShack Corporation from September 2003 to April 2007, where he
was responsible for financial and strategic planning, analysis and
management reporting for multiple functions and businesses.

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

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

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


MONDRIAN TTL: Creditors Have Until Aug. 15 to File Proofs of Claim
------------------------------------------------------------------
The Hon. Randolph J. Haines of the U.S. Bankruptcy Court for the
District of Arizona has established August 15, 2010, as the last
day for any individual or entity to file proofs of claim against
Mondrian TTL, L.L.C., and Grigio TTL, L.L.C.

Mondrian TTL is represented by:

     Lewis and Roca LLP
     40 North Central Avenue
     Phoenix, AZ 85004-4429

     Susan M. Freeman, Esq.
     E-mail: SFreeman@LRLaw.com
     Tel: (602) 262-5756
     Fax: (602) 734-3824

     Rob Charles, Esq.
     E-mail: RCharles@LRLaw.com
     Tel: (520) 629-4427
     Fax: (520) 879-4705

                        About Mondrian TTL

Phoenix, Arizona-based Mondrian TTL, L.L.C., dba Mondrian Tempe
Town Lake, owns the leasehold interest in an apartment complex
known as Grigio Tempe Town Lakes, in Tempe, Arizona, and is
affiliated with multiple entities owned by Bruce Gray or entities
he controls.  The Company filed for Chapter 11 bankruptcy
protection on May 9, 2010 (Bankr. D. Ariz. Case No. 10-14140).
Susan M. Freeman, Esq., at Lewis and Roca, assists the Company in
its restructuring effort.  The Company estimated its assets and
debts at $50,000,001 to $100,000,000.


MONEYGRAM INT'L: New CFO Shields Gets Options to Buy 2MM Shares
---------------------------------------------------------------
James E. Shields, newly minted executive vice president and chief
financial officer of MoneyGram International, Inc., disclosed that
on July 13, 2010, he acquired options to buy up to 2,000,000
company shares.

MoneyGram named Mr. Shields EVP and CFO, effective July 13.

The Non-qualified stock options were granted pursuant to MoneyGram
International, Inc. 2005 Omnibus Incentive Plan, as amended,
pursuant to a Non-Qualified Stock Option Agreement dated July 13,
2010.

Options for 50% of the shares are considered "Time Vested" and
options for 50% of the shares are considered "Performance Vested."
The Time Vested options will vest in equal installments over five
years on the anniversary of the grant date.  Half of the
Performance Vested options will vest when MoneyGram's common stock
closes at or above $4.00 per share for 20 consecutive trading days
during the five-year period following the grant date, and the
other half of the Performance Vested options will vest when
MoneyGram's common stock closes at or above $5.25 per share for 20
consecutive trading days during the five-year period following the
grant date.  If MoneyGram's shares are not publicly traded, then
vesting for the options that are Performance Vested will vest in
the manner set forth in the stock option agreement.

MoneyGram International Inc. -- http://www.moneygram.com/--
offers more control and more choices for people separated by
distance or with limited bank relationships to meet their
financial needs.  A leading global payment services company,
MoneyGram International helps consumers to pay bills quickly and
safely send money around the world in as little as 10 minutes.
Its global network is comprised of 190,000 agent locations in
nearly 190 countries and territories. MoneyGram's convenient and
reliable network includes retailers, international post offices
and financial institutions.

                           *     *     *

According to the Troubled Company Reporter on Juyl 1, 2010, Fitch
Ratings has affirmed the Issuer Default Ratings for MoneyGram
International Inc. and MoneyGram Payment Systems Worldwide, Inc.,
at 'B+'. Fitch has also affirmed these ratings for Worldwide:

  -- Senior secured first lien credit facility at 'BB+/RR1';
  -- Senior secured second lien notes at 'B+/RR4'.

The Rating Outlook has been revised to Stable from Negative.


MONICA LESTER: Case Summary & 16 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Monica Laverne Lester
        aka Monica L. Nesbit
        1440 Kearney Street, NE
        Washington, DC 20017

Bankruptcy Case No.: 10-00693

Chapter 11 Petition Date: July 14, 2010

Court: United States Bankruptcy Court
       District of Columbia (Washington, D.C.)

Judge: S. Martin Teel, Jr.

Debtor's Counsel: Rowena Nicole Nelson, Esq.
                  Law Office of Rowena N. Nelson & Asso.
                  1801 McCormick Dr., Suite 150
                  Largo, MD 20774
                  Tel: (301) 358-3349
                  E-mail: rnelson@rnnlawmd.com

Scheduled Assets: $1,837,783

Scheduled Debts: $1,309,414

A list of the Debtor's 16 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/dcb10-00693.pdf

The petition was signed by Ms. Lester.


MORGAN STANLEY: Mulls Options for Real Estate Fund
--------------------------------------------------
The Wall Street Journal's Lingling Wei, Peter Lattman and Aaron
Lucchetti report that Morgan Stanley is considering what to do
with its family of funds known as Msref, according to people
familiar with the matter.  Options include reducing its own
capital in the funds, or selling them.  Sources told the Journal
the planning is in the early stages and no decisions have been
made.

"We're not in discussions on the sale of the business," a Morgan
Stanley spokeswoman said, according to the Journal.  New
regulations that would follow the passage of financial-services
legislation in the U.S. would likely force Morgan Stanley and
other banks to cut their own investments in real-estate funds and
some other portfolios they manage.

The Journal recalls Morgan Stanley told investors in the $8.8
billion real-estate fund that it may have accumulated losses since
the fund's inception of nearly two-thirds of its money, according
to the fund's report for the third quarter of 2009.  The estimated
$5.4 billion loss likely would be the biggest dollar loss in the
history of private-equity real-estate investing.


NEW BERN: Wants Until August 30 to Propose Reorganization Plan
--------------------------------------------------------------
New Bern Riverfront Development, LLC, asks the U.S. Bankruptcy
Court for the Eastern District of North Carolina to extend its
exclusive periods to file and solicit acceptances for the proposed
Chapter 11 Plan until August 30, 2010, and October 30,
respectively.

The Debtor needs additional time to:

   -- resolve the sale of existing residential condominium units;
      and the settlement or trial of the pending litigation which
      was removed from state court.

   -- finalize negotiations with its primary secured creditor, and

   -- finalize the proposed Plan and Disclosure Statement.

           About New Bern Riverfront Development, LLC

Cary, North Carolina-based New Bern Riverfront Development, LLC,
is the developer of SkySail Condominium, consisting of 121
residential condominiums (plus 1 commercial/non-residential unit)
located on Middle Street on the waterfront in historic downtown
New Bern, North Carolina, and sells the SkySail Condominiums in
the ordinary course of business.  The Debtor filed for Chapter 11
bankruptcy protection on November 30, 2009 (Bankr. E.D. N.C. Case
No. 09-10340).  John A. Northen, Esq., at Northen Blue, LLP,
assist the Company in its restructuring effort.  The Company has
assets of $31,515,040, and total debts of $25,676,781.


OPTI CANADA: Reports Operating Results for June 30 Quarter
----------------------------------------------------------
OPTI Canada Inc. reported its financial and operating results for
the quarter ended June 30, 2010.  The Long Lake Project is the
first to use OPTI's integrated OrCrude process.  The company's
proprietary process is designed to substantially reduce operating
costs compared to other oil sands projects while producing a high
quality, sweet, synthetic crude oil.

The company's balance sheet for June 30, 2010, showed $3.6 million
total assets and $2.5 million total liabilities, for a
$1.1 million total stockholders' deficit.

The company reported $152,340 net loss for the three months ended
June 30, 2010, compared with $8,750 net loss for the same period a
year ago.

"The Long Lake Project has demonstrated strong plant performance
and improving bitumen production throughout 2010 and we look
forward to delivering a similar message in quarters to come," said
Chris Slubicki, President and Chief Executive Officer of OPTI.


"Our bitumen production has increased to 28,500 barrels per day
and the Upgrader is processing virtually all of our produced and
externally-sourced bitumen.  Steam injection is also increasing
and plant reliability remains consistent.  We expect to see
further increase in bitumen production in the second half of the
year as we enhance and optimize our operations."

"We also have enormous growth potential beyond the Long Lake
Project. Incorporating what we've learned from Phase 1, we plan to
stage smaller SAGD projects in our next development, Kinosis. This
will allow us to lower the intensity of our capital program,
reduce our labour requirements, and give us better construction
cost and execution control."

"Our strong plant performance and continuously improving
production throughout ramp-up support our ongoing strategic
alternatives review process."

A full-text copy of the company's financial report is available
for free at http://ResearchArchives.com/t/s?669e

                            About OPTI

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

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

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


PATRICK HACKETT: Bank Says Disclosure Statement Is Inadequate
-------------------------------------------------------------
Brian Kelly at Watertown Daily Times says KeyBank asked a federal
bankruptcy court to deny approval of Patrick Hackett Hardware
Inc.'s disclosure statement explaining the company's plan of
reorganization because it does not contain adequate information.

The Daily Times, citing court documents, says the bank claimed it
is the holder of a consolidated promissory note dated 1998 of
$1.4 million.  The bank said there is about $423,000 owed under
the loan deal and that the company's disclosure statement failed
to include information as to how the remaining balance will be
paid.

The Company's plan intends to pay the bank off over 25 years,
according to the report.

According to the reorganization plan, Patrick Hackett plans to pay
off its debts from revenues and income generated by the continued
operation of its business.  It will also use $500,000 from its
parent corporation, Wisebuys Inc., which is not in bankruptcy;
$200,000 from Seaway Valley Capital Corp., of which Wisebuys is a
subsidiary; and $200,000 from the sale of property in Canton and
Ogdensburg.  The money from Wisebuys and Seaway Valley will be
raised through "various public offerings," according to a
disclosure statement accompanying the reorganization plan.

                      About Patrick Hackett

Hackett's Stores, Inc., is the parent company of Patrick Hackett
Hardware Company and HIIO, Inc.  Patrick Hackett Hardware Company
has a wide variety of merchandise and business lines, including a
full service hardware, consumer electronics, equipment rental,
brand name clothing, footwear, sporting goods and gourmet foods.
HIIO, Inc., represents a concept platform for a new specialty
retailer focused on fashion clothing and outerwear, footwear and
selected gift items.  There are currently no HIIO-branded stores
opened to date.

Hackett's Stores, Inc. (Pink Sheets:HCKI) is a holding of Seaway
Valley Capital Corporation (Pink Sheets:SEVA).

Based in New York, Patrick Hackett Hardware Company --
http://www.hackettsonline.com/-- began in 1830 as a hardware
store in upstate New York.  Hacketts now operates full-service
department stores and a specialty store, selling a full line of
clothes, consumer electronics, cell phones, shoes, housewares,
hardware and others.

Patrick Hackett filed for Chapter 11 on November 10, 2009 (Bankr.
N.D. N.Y Case No. 09-63135).  The Debtor disclosed less than
$10,000,000 in total asset

Hackett's Stores, Inc., whose shares trade currently on the Pink
Sheets, is not nor has ever been in bankruptcy or bankruptcy
protection."


PAHRUMP RENTALS: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Pahrump Rentals, Inc.
        101 S. Frontage Road
        Pahrump, NV 89048

Bankruptcy Case No.: 10-23179

Chapter 11 Petition Date: July 15, 2010

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

Judge: Mike K. Nakagawa

Debtor's Counsel: Richard E. Hawkins, Esq.
                  4680 Polaris Sst., Suite 250
                  Las Vegas, NV 89103
                  Tel: (702) 508-8462
                  E-mail: HawkinsLawFirm@gmail.com

Scheduled Assets: $634,486

Scheduled Debts: $6,827,538

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

The petition was signed by Karen Thomas, president.


PRIUM KENT: Case Summary & 19 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Prium Kent Retail LLC
        820 A Street #300
        Tacoma, WA 98402

Bankruptcy Case No.: 10-45715

Chapter 11 Petition Date: July 14, 2010

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

Judge: Brian D. Lynch

Debtor's Counsel: Timothy W. Dore, Esq.
                  Ryan Swanson & Cleveland PLLC
                  1201 3rd Avenue, Suite 3400
                  Seattle, WA 98101-3034
                  Tel: (206) 464-4224
                  E-mail: dore@ryanlaw.com

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

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

A list of the Company's 19 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/wawb10-45715.pdf

The petition was signed by Thomas W. Price, member of Prium
Companies LLC which is the sole member of P & U Capital Partners
II, LLC, which is the sole member of the Debtor.

Debtor-affiliates that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Chelsea Heights LLC                    10-44959    06/18/10
Prium Tumwater Buildings LLC           10-44962    06/18/10


PRIUM MEEKER: Case Summary & 19 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Prium Meeker Mall LLC
        820 A Street #300
        Tacoma, WA 98402

Bankruptcy Case No.: 10-45713

Chapter 11 Petition Date: July 14, 2010

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

Judge: Paul B. Snyder

Debtor's Counsel: Timothy W. Dore, Esq.
                  Ryan Swanson & Cleveland PLLC
                  1201 3rd Avenue, Suite 3400
                  Seattle, WA 98101-3034
                  Tel: (206) 464-4224
                  E-mail: dore@ryanlaw.com

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

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

The petition was signed by Thomas W. Price, member of Prium
Companies LLC, the sole member of P & U Capital Partners I, LLC,
which is the Debtor's sole member.

Debtor's List of 19 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Benaroya Capital Company                         $56,000
1100 Olive Way #1700
Seattle, WA 98101

Pederson Painting LLC                            $52,317
4220 E 112th St.
Tacoma, WA 98446

Professional Building                            $18,800
Services
7925 170th Ave NE
Redmond, WA 98052

New Dimensions Landscape                         $8,840
Inc.

Pierce County Security                           $7,150

City of Kent                                     $4,002

Sherwin Williams                                 $3,844

Heattransfer Company                             $3,079

Smith Fire Systems                               $2,433

Walter E. Nelson Company                         $2,244

The Stratford Group                              $1,594

Waste Management Tri Star                        $1,447
Disp

Whirlwind Services                               $1,169

Puget Sound Energy                               $985

Sprague                                          $640

Master Vac                                       $459

City of Kent Permit Center                       $162

Guardian Security                                $70

Qwest                                            $67

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Chelsea Heights LLC                    10-44959    06/18/10
Prium Tumwater Buildings LLC           10-44962    06/18/10
Prium Kent Retail LLC


PROTECTIVE PRODUCTS: In Talks with Creditors Panel on Plan Changes
------------------------------------------------------------------
Protective Products of America, Inc., et al., asks the U.S.
Bankruptcy Court for the Southern District of Florida to extend
their exclusive periods to file and solicit acceptances for the
proposed plan of reorganization until July 30, 2010, and
September 30, respectively.

The Debtors filed their request for an extension before the
exclusive periods was set to expire on June 30.

The Debtors need additional time to discuss with the Official
Committee of Unsecured Creditors certain changes on the Disclosure
Statement and Plan.


            About Protective Products of America, Inc.

Sunrise, Florida-based Protective Products of America, Inc.,
formerly known as Ceramic Protection Corporation --
http://www.protectiveproductsofamerica.com/-- engages in the
design, manufacture and marketing of advanced products used to
provide ballistic protection for personnel and vehicles in the
military and law enforcement markets.


RADIO ONE: Extends Expiration Offer of Senior Notes to July 31
--------------------------------------------------------------
Radio One Inc. had extended the expiration time of the exchange
offer for its 87/8% Senior Subordinated Notes due 2011 and its
63/8% Senior Subordinated Notes due 2013, and the related consent
solicitation, to 5:00 p.m., New York City time, on July 31, 2010.

As of 5:00 p.m., New York City time, on July 15, 2010,
approximately 89.8% of the outstanding Existing Notes had been
validly tendered into the exchange offer and not withdrawn.  At
the previously scheduled expiration time, the conditions necessary
to consummate the exchange offer as set forth in the Company's
Exchange Offer and Consent Solicitation Statement and Offering
Memorandum, dated June 16, 2010 (the "Offering Memorandum"), were
not satisfied and, as a result, the Company has determined to
extend the exchange offer.

The subscription offer to holders of Existing Notes who
participate in the exchange offer to purchase its new 8.5%/9.0%
Second-Priority Senior Secured Grid Notes due 2016 expired at 5:00
p.m., New York City time, on July 15, 2010, and the Company has
determined not to further extend the subscription offer.

At this time, the Company does not expect to issue such second-
priority notes and is evaluating its options with respect its
purchase of the additional 19% of the outstanding equity interests
in TV One, LLC as contemplated by the Offering Memorandum.  The
Company is currently in discussions with representatives of the ad
hoc group of holders of a significant portion of its Existing
Notes relating to certain amendments to the terms of the exchange
offer and the related exchange notes, including the conditions to
the exchange offer.

A full-text copy of the company's forbearance agreement is
available for free at http://ResearchArchives.com/t/s?6697

                          About Radio One

Radio One, Inc., operates as an urban-oriented multi-media company
in the United States. It principally engages in the radio
broadcasting operation that primarily targets African-American and
urban listeners. As of December 31, 2009, it owned and operated 53
radio stations located in 16 urban markets in the United States.
The company also has approximately 37% ownership interest in TV
One, LLC, an African-American targeted cable television network;
and a 53.5% ownership interest in Reach Media, Inc., which
operates the Tom Joyner Morning Show. Further, it owns Interactive
One, LLC, an online platform serving the African-American
community through social content, news, information, and
entertainment; and Community Connect, LLC, an online social
networking company. The company was founded in 1980 and is based
in Lanham, Maryland.

                           *     *     *

As reported by the Troubled Company Reporter on June 21, 2010,
Moody's Investors Service will upgrade Radio One, Inc.'s Corporate
Family Rating to B3 from Caa1 and its probability of Default
Rating to B3 from Caa2 pending closing of their proposed note
exchange, debt refinancing and purchase of additional interests in
TVOne.

Standard & Poor's Rating Services placed its 'CCC+' corporate
credit rating on Lanham, Md.-based radio broadcaster Radio One
Inc. on CreditWatch with positive implications.  The company has
proposed several transactions to refinance its capital structure
and acquire a controlling stake in TV One LLC.  Upon completion of
the refinancing, and assuming there are no material changes to the
proposed terms, S&P expects to raise the corporate credit rating
to 'B' with a stable outlook.


RCLC INC: Settles with PBGC Over 2009 Litigation
------------------------------------------------
RCLC Inc., formerly Ronson Corporation, and certain of its
subsidiaries entered into a settlement agreement with the Pension
Benefit Guaranty Corporation to settle the litigation commenced by
the PBGC on December 30, 2009, in the Federal District Court for
the District of New Jersey seeking entry of a decree:

    1) adjudicating that the Ronson Corporation Retirement Plan
       be terminated,

    2) appointing the PBGC as the statutory trustee of the Plan,

    3) establishing December 30, 2009 as the termination date of
       the Plan and

    4) directing the company and any other person or entity having
       possession, custody or control of any records, assets or
       other property pertaining to the Plan to transfer, convey
       and deliver them to the PBGC.

In connection with the settlement, an Agreement for Appointment of
Trustee and Termination of Plan was also entered into by the
Company and the PBGC.

The Settlement Agreement, which includes the Company and its
subsidiaries, RCPC Liquidating Corp., Ronson Aviation, Inc. and
Ronson Corporation of Canada Ltd., as parties, settles the PBGC's
claims against the Company and such subsidiaries and provides that
the PBGC waives any secured claims and maintains general unsecured
claims against the Company, RCPC, Aviation and RCC in the
aggregate amount of $4,410,361 which claims are comprised of
unfunded pension benefit liabilities of $2,508,672, minimum
funding contributions of $258,491 and a termination premium of
$1,643,198.

The Termination Agreement provides that the Plan is terminated
effective December 30, 2009 and that the PBGC is appointed Trustee
of the Plan allowing the PBGC to take title to and control over
the Plan assets.  Under the Settlement Agreement, the PBGC
acknowledges that a buyer of the assets of RCPC, Aviation and RCC
will not be deemed a successor and will not have any liability to
the PBGC for these claims or to the Plan so long as the buyer
purchases such assets in an arm's length transaction and is not an
affiliate of the Company or such subsidiaries.

                          About RCLC Inc.

RCLC, Inc., formerly known as Ronson Corporation, in Woodbridge,
New Jersey, historically, has been engaged principally in these
businesses -- Consumer Products; and Aviation-Fixed Wing and
Helicopter Services.

                           *     *     *

According to the Troubled Company Reporter on June 18, 2010,
RCLC Inc. and its wholly-owned subsidiaries, RCPC Liquidating
Corp. Ronson Aviation, Inc., and RCC Inc., further extended the
forbearance agreement with their principal lender, Wells Fargo
Bank, National Association, under which Wells Fargo agreed not to
assert existing events of default under the Borrowers' credit
facilities with Wells Fargo through July 16, 2010, or such earlier
date determined under the Forbearance Agreement, to provide the
Borrowers with additional time to consummate the sale of RAI's
assets to Hawthorne TTN Holdings, LLC pursuant to the previously
disclosed Asset Purchase Agreement dated as of May 15, 2009, as
amended, among the Company, RAI and Hawthorne, or, alternatively,
enter into an asset purchase agreement with another qualified
purchaser.


RENAISSANT LAFAYETTE: Wants Until August 20 to File Ch. 11 Plan
---------------------------------------------------------------
Renaissant Lafayette LLC asks the U.S. Bankruptcy Court for the
Eastern District of Wisconsin to extend its exclusive periods to
file a Chapter 11 Plan from June 21, 2010, to August 20, and to
solicit acceptances for the proposed plan until October 19.

The Debtor believes it is close to completing a deal that would
result in a sale of substantially all of the assets.  The Debtor
anticipates a Plan of Reorganization is likely  unnecessary.
However, in an abundance of caution, the Debtor seeks further
extensions of the exclusive periods so as to have adequate time to
formulate and circulate a plan if it becomes appropriate.

Oak Brook, Illinois-based Renaissant Lafayette LLC is the owner of
a 280-unit luxury condominium development in Milwaukee named Park
Lafayette.  The project is at the intersection of North Prospect
Avenue and Lafayette Place in Milwaukee.  So far, 39 units were
sold.

The Company filed for Chapter 11 bankruptcy protection on
December 23, 2009 (Bankr. E.D. Wis. Case No. 09-38166).  Forrest
B. Lammiman, Esq., at Meltzer, Purtill & Stelle LLC, assists the
Company in its restructuring effort.  The Company listed
$50,000,001 to $100,000,000 in assets and $100,000,001 to
$500,000,000 in liabilities.


SENSIVIDA MEDICAL: Posts $342,264 Net Loss in Q1 Ended May 31
-------------------------------------------------------------
SensiVida Medical Technologies, Inc., filed its quarterly report
on Form 10-Q, reporting a net loss $342,264 for the three months
ended May 31, 2010, compared with a net loss of $560,271 for the
three months ended May 31, 2009.

The Company's balance sheet at May 31, 2010, showed $3,333,530 in
assets, $2,945,574 of liabilities, and $387,983 of stockholders'
equity.

As reported in the Troubled Company Reporter on June 21, 2010,
Morison Cogen LLP, in Bala Cynwyd, Pa., expressed substantial
doubt about the Company's ability to continue as a going concern
after auditing the Company's financial statements for the year
ended February 28, 2010.  The independent auditors noted that the
Company has no revenues, incurred significant losses from
operations, has negative working capital and an accumulated
deficit.

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

               http://researcharchives.com/t/s?66a9

                    About SensiVida Medical

Based in Henrietta, New York, SensiVida Medical Technologies,
Inc. f/k/a Mediscience Technology Corp. is a minimally invasive
bio-medical diagnostic device company.  Its proprietary optical
Micro-systems based technology automates bio-sensing and data
acquisition while minimizing patient discomfort.  The Company's
platform technology addresses a number of disease state
diagnostics - allergy testing, pain-free automated glucose
monitoring without bio-fouling, blood coagulation testing (e.g.
for Coumadin patients), TB testing and cholesterol monitoring.


SEVERN BANCORP: Returns to Profitability in Second Quarter 2010
---------------------------------------------------------------
Severn Bancorp Inc. reported the results for the quarter and six
months ended June 30, 2010.  Net income for the second quarter was
$593,000 compared to net loss of $6.9 million for the second
quarter of 2009.  Net income was $65,000 the six months ended June
30, 2010, compared to net loss of $8.2 million for the six months
ended June 30, 2009.

At June 30, 2010, Severn's regulatory capital ratios continued to
exceed the levels required to be considered "well capitalized"
under applicable federal banking regulations, including its core
(leverage) ratio of approximately 11.5% compared to the regulatory
requirement of 5% for "well capitalized" status.

"We are gratified by these results and are pleased that our hard
work is resulting in a turn around in the direction of our
earnings," said Alan J. Hyatt, president and chief executive
officer.  "However, we remain uncertain about the country's
economy and how long conditions, including unemployment, will
continue to negatively impact our local economy." Mr. Hyatt
continued "While non-performing assets overall have decreased,
they remain a challenge, and we continue to work with borrowers to
return these assets to performing status.  We also remain focused
on providing full service banking to our customers with products
and services that will increase shareholder value."

A full-text copy of the company's earnings release is available
for free at http://ResearchArchives.com/t/s?6698

                     About Severn Savings Bank

Founded in 1946, Severn Savings Bank, FSB --
http://www.severnbank.com/-- is a full-service community bank
offering a wide array of personal and commercial banking products
as well as residential and commercial mortgage lending.  It has
assets of nearly $1 billion and four branches located in
Annapolis, Edgewater and Glen Burnie.  The bank specializes in
exceptional customer service and holds itself and its employees to
a high standard of community contribution.   Severn Bancorp, Inc.,
(Nasdaq: SVBI) is the parent company of Severn Savings Bank.

As reported by the TCR on November 25, 2009, Annapolis, Maryland-
based Severn Bancorp along with its Bank unit, has entered into
supervisory agreements with the Office of Thrift Supervision, the
Bank's primary federal regulator.  The agreements set forth steps
being taken in response to regulatory concerns with its operating
results and effects of the current economic environment facing the
financial services industry.


SHOREBANK CORP: Continues to Wait for $75-Mil. Gov't Bailout
------------------------------------------------------------
The Wall Street Journal's Robin Sidel reports that executives at
ShoreBank Corp. in Chicago are losing hope that government funds
will be forthcoming and are considering other plans to keep the
bank open, according to people familiar with the situation.  The
report says the bank has approached Wall Street firms that already
have pledged money to the bank to assess their interest in such
plans, these people said.

ShoreBank is awaiting to hear if the government will provide a $75
million infusion that could help keep it in business.

A person familiar with the bank's strategy, according to Ms.
Sidel, said ShoreBank, which provides financial services in
distressed parts of the city, is reeling, in part, because it made
loans to borrowers in low-income neighborhoods away from its
historical focus on Chicago's South Side.

Founded in 1973, ShoreBank built a reputation on lending to low-
and-moderate income borrowers on Chicago's South Side. Many of
those loans were used to renovate apartment buildings in low-
income neighborhoods. The company's bankers prided themselves on
knowing details about the three- to six-story brick walk-up
apartments that cover the neighborhood, the person familiar with
the bank's operations told the Journal.

Over the past few years, however, ShoreBank began expanding across
town into Chicago's other underserved neighborhoods, such as the
Logan Square area.  ShoreBank's bankers were less familiar with
the neighborhood's residents and its buildings, this person said.
The bank also made loans for condominium development, an area in
which it didn't have much experience.  Borrowers, flush from
successful renovation projects, took out multiple loans from the
bank.

The plan backfired when the economy started unraveling, this
person told the Journal.  Residents lost their jobs and couldn't
pay their rent in the refurbished buildings. Borrowers, some of
whom were developing multiple projects, couldn't repay loans.

By last summer, regulators had ordered the bank to bolster its
capital levels due to rising loan losses.  The company also
installed a new management team.

The Journal notes that in addition to seeking government funds,
ShoreBank has cobbled together about $135 million of pledges from
assorted investors, including Wall Street companies Goldman Sachs
Group Inc. and Bank of America Corp., if the government bailout
comes through.  That decision may be complicated by recent calls
for inquiries into Wall Street's potential assistance to
ShoreBank.  Republican lawmakers question whether the White House
has pressured big banks to help.  And they want to know if the big
banks are currying favor with the Obama administration by helping
prop up the local lender based in the president's hometown.

The White House has said it didn't pressure the lenders.  A
ShoreBank spokesman, according to the Journal, said the bank
hasn't contacted the White House about its troubles.  If the funds
don't materialize, the bank's future is in doubt.  Federal and
state regulators have ordered the bank to raise its capital levels
significantly and could potentially close the bank if it fails to
do so.


SPANSION INC: Tessera IP Dispute Moving to District Court
---------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Spansion Technologies
Inc. agreed with Tessera Inc. to move their patent dispute over
packaged semiconductor components to the district court from the
bankruptcy court.

Mr. Rochelle recounts that in 2005, Tessera filed a patent
infringement suit against Spansion in 2005 in U.S. District Court
in California.  The suit was put on hold after Tessera began a
proceeding before the International Trade Commission to halt the
importation of goods that allegedly infringed the patents.
Ultimately, the ITC ruled that there were infringements and
ordered a limited exclusion prohibiting importation of infringing
goods.  In the Chapter 11 case of Spansion, Tessera filed a
$219 million claim against Spansion and followed up with a motion
for allowance of a $96.8 million administrative claim based on
patent infringement.

According to the report, Spansion and Tessera agreed that the
disputes in bankruptcy court over the claims should be transferred
to the district court in California.  They will call on the
bankruptcy judge to bless the transfer of the proceedings to
California at a July 28 hearing.

                        About Spansion Inc.

Spansion Inc. (NASDAQ: SPSN) -- http://www.spansion.com/-- is a
Flash memory solutions provider, dedicated to enabling, storing
and protecting digital content in wireless, automotive,
networking and consumer electronics applications.  Spansion,
previously a joint venture of AMD and Fujitsu, is the largest
company in the world dedicated exclusively to designing,
developing, manufacturing, marketing, selling and licensing Flash
memory solutions.

Spansion Inc. and its affiliates filed voluntary petitions for
Chapter 11 on March 1, 2009 (Bankr. D. Del. Lead Case No.
09-10690).  On February 9, 2009, Spansion's Japanese subsidiary,
Spansion Japan Ltd., voluntarily entered into a proceeding under
the Corporate Reorganization Law (Kaisha Kosei Ho) of Japan to
obtain protection from its creditors as part of the company's
restructuring efforts. None of Spansion's subsidiaries in
countries other than the United States and Japan are included in
the U.S. or Japan filings.  Michael S. Lurey, Esq., Gregory O.
Lunt, Esq., and Kimberly A. Posin, Esq., at Latham & Watkins LLP,
have been tapped as bankruptcy counsel.  Michael R. Lastowski,
Esq., at Duane Morris LLP, is the Delaware counsel.  Epiq
Bankruptcy Solutions LLC, is the claims agent.  As of Sept. 30,
2008, Spansion had total assets of US$3,840,000,000, and total
debts of US$2,398,000,000.

Spansion Japan Ltd. filed a Chapter 15 petition on April 30, 2009
(Bankr. D. Del. Case No. 09-11480).  The Chapter 15 Petitioner's
counsel is Gregory Alan Taylor, Esq., at Ashby & Geddes.  It said
that Spansion Japan had US$10 million to US$50 million in assets
and US$50 million to US$100 million in debts.

Judge Kevin J. Carey confirmed Spansion's Plan of Reorganization
on April 16, 2010.  A group of holders of Convertible notes and
equity in Spansion presented an alternative plan, which would pay
senior noteholders in full and has funding commitment of in excess
of $425 million, but the plan was rejected.  The Plan was
implemented May 10, 2010.


SPHERIS INC: Schedules August 26 Confirmation Hearing
-----------------------------------------------------
Spheris Inc. will present its liquidating Chapter 11 plan at a
confirmation hearing on Aug. 26, Bill Rochelle at Bloomberg News
reported.

Spheris Inc. secured approval from Judge Kevin Gross in Delaware
of the disclosure statement for its Chapter 11 liquidation plan on
July 13.

The 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.


SUNESIS PHARMA: Alta BioPharma Holds 9.9% of Common Stock
---------------------------------------------------------
Alta BioPharma Partners III, L.P., and its affiliated entities
disclosed holding in the aggregate 22,486,903 shares or roughly
9.9% of the common stock of Sunesis Pharmaceuticals, Inc., as of
June 30, 2010.

As reported by the Troubled Company Reporter on July 12, 2010,
Alta Biopharma Partners III LP disclosed in a Form 4 filing with
the Securities and Exchange Commission that it acquired shares of
both Common Stock and Series A Preferred Stock of Sunesis
Pharmaceuticals on June 30, 2010.

Alta Biopharma may be deemed to directly hold 15,487,876 common
shares.  Alta Biopharma also holds certain other shares through
Alta Embarcadero BioPharma Partners III, LLC, and Alta BioPharma
Partners III GmbH & Co. Beteiligungs KG.

Alta Biopharma indirectly holds the Preferred shares through those
two affiliated funds.

Alta BioPharma Management III, LLC, is the general partner of Alta
BioPharma Partners III and the managing limited partner of Alta
BioPharma Partners III GmbH & Co. Beteiligungs KG.  Jean Deleage,
Farah Champsi, Edward Penhoet, and Edward Hurwitz are directors of
ABMIII and managers of Alta Embarcadero BioPharma Partners III,
LLC.

                   About Sunesis Pharmaceuticals

South San Francisco, Calif.-based Sunesis Pharmaceuticals, Inc.
(NASDAQ: SNSS) -- http://www.sunesis.com/-- is a
biopharmaceutical company focused on the development and
commercialization of new oncology therapeutics for the treatment
of hematologic and solid tumor cancers.

The Company's balance sheet as of March 31, 2010, showed
$15,329,511 in assets, $3,541,245 of liabilities, and $11,788,266
of stockholders' equity.

                           *     *     *

As reported in the Troubled Company Reporter on April 6, 2010,
Ernst & Young, LLP, in Palo Alto, Calif., expressed substantial
doubt about the Company's ability to continue as a going concern
after auditing the Company's financial statements for 2009.  The
independent auditors noted that of the Company's recurring losses
from operations.


SUNESIS PHARMA: Registers 175,847,950 Shares
--------------------------------------------
Sunesis Pharmaceuticals, Inc., on Monday filed with the Securities
and Exchange Commission a FORM S-3 REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933.

The accompanying prospectus relates to the disposition from time
to time of up to 175,847,950 shares of Sunesis common stock,
including 27,552,790 shares of Sunesis common stock issuable upon
the exercise of outstanding warrants, which are held by certain
selling stockholders.  The selling stockholders acquired the
common stock from Sunesis in separate closings of a private
placement on April 3, 2009, October 30, 2009 and June 30, 2010,
respectively.

The selling stockholders may resell or dispose of the shares of
Sunesis common stock, or interests therein, at fixed prices, at
prevailing market prices at the time of sale or at prices
negotiated with purchasers, to or through underwriters, broker-
dealers, agents, or through any other means.  The selling
stockholders will bear all commissions and discounts, if any,
attributable to the sale or disposition of the shares, or
interests therein.  Sunesis will bear all costs, expenses and fees
in connection with the registration of the shares.  Sunesis will
not receive any of the proceeds from the sale of these shares of
Sunesis common stock by the selling stockholders.  Sunesis will,
however, receive the net proceeds of any warrants exercised for
cash.

Sunesis meanwhile is delaying the effective date of the
Registration Statement.

Sunesis common stock is listed on The NASDAQ Capital Market under
the symbol "SNSS".  The last reported sale price of the common
stock on July 16, 2010, was $0.49 per share.

A full-text copy of the registration statement is available at no
charge at http://ResearchArchives.com/t/s?66b2

                   About Sunesis Pharmaceuticals

South San Francisco, Calif.-based Sunesis Pharmaceuticals, Inc.
(NASDAQ: SNSS) -- http://www.sunesis.com/-- is a
biopharmaceutical company focused on the development and
commercialization of new oncology therapeutics for the treatment
of hematologic and solid tumor cancers.

The Company's balance sheet as of March 31, 2010, showed
$15,329,511 in assets, $3,541,245 of liabilities, and $11,788,266
of stockholders' equity.

                           *     *     *

As reported in the Troubled Company Reporter on April 6, 2010,
Ernst & Young, LLP, in Palo Alto, Calif., expressed substantial
doubt about the Company's ability to continue as a going concern
after auditing the Company's financial statements for 2009.  The
independent auditors noted that of the Company's recurring losses
from operations.


TAYLOR BEAN: FDIC Backs Exclusivity Extension Bid
-------------------------------------------------
Bankruptcy Law360 reports that the Federal Deposit Insurance Corp.
has thrown its support behind Taylor Bean & Whitaker Mortgage
Corp.'s bid to extend its exclusivity period, saying more time is
needed to finalize a settlement with the company related to the
reconciliation of the cash and assets of Colonial BancGroup Inc.

Taylor, Bean & Whitaker Mortgage Corp. is a 27-year-old company
that grew from a small Ocala-based mortgage broker to become one
of the largest mortgage bankers in the United States.  In 2009,
Taylor Bean was the country's third largest direct-endorsement
lender of FHA-insured loans of the largest wholesale mortgage
lenders and issuer of mortgage backed securities.  It also managed
a combined mortgage servicing portfolio of approximately
$80 billion.  The company employed more that 2,000 people in
offices located throughout the United States.

Taylor Bean filed for Chapter 11 on August 24 (Bankr. M.D. Fla.
Case No. 09-07047). Taylor Bean filed under Chapter 11 three weeks
after federal investigators searched its offices.  The day
following the search, the Federal Housing Administration, Ginnie
Mae and Freddie Mac prohibited the company from issuing new
mortgages and terminated servicing rights.

Taylor Bean has more than $1 billion of both assets and
liabilities, and between 1,000 and 5,000 creditors, according to
the bankruptcy petition.


TELESAT CANADA: Moody's Affirms 'B2' Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service affirmed Telesat Canada's B2 corporate
family and probability of default ratings along with ratings for
individual instruments.  As well, the company's speculative grade
liquidity rating remains unchanged at SGL-3 (adequate liquidity)
and the ratings outlook remains stable.

The B2 CFR/PDR reflects Moody's view that the company's strong
underlying business fundamentals (which include a substantial
$5.8 billion contracted revenue backlog that provides good
earnings visibility, low operating costs that result in strong
+70% EBITDA margins) have been substantially exploited by way of a
significant debt load and accompanying interest burden.  Given
recent and pending satellite launches and the proportion of the
Revenue/EBITDA stream that is cash (excluding Deferred Revenue),
there is the potential of leverage and coverage improving, and
there is good potential of debt reduction.  However, since
management has yet to clearly articulate plans for excess cash
flow, it is uncertain whether the company will reduce debt, invest
in further growth, or -- on its shareholders' instructions --
approach its lenders so that some cash may be returned to equity
holders.  There is also the potential that cash flow needs to be
reinvested to maintain the revenue stream by replacing "maturing"
satellites.  The rating is unlikely to progress until there is
clarity concerning the company's plans and ability to be cash flow
self-sustaining.  This is complicated given the pending need to
refinance 2012 and 2014 debt maturities, as there is the potential
of the related interest carry increasing as treasury rates and
risk premia increase subsequent to the recession and financial
crisis.

The rating is also influenced by the company's liquidity profile.
Telesat has a C$153 million revolving term loan facility (RTL)
that is fully un-drawn.  The company also has a C$230 million cash
balance (at March 31, 2010) and is generating C$70-to-C$80 million
per quarter in pre-capital expenditure cash flow.  Consequently,
even with significant capital spending, Moody's expect the company
has the resources to meet required disbursements.  However,
applicable financial covenants become dramatically more stringent
over the next several quarters and, depending on how rapidly
revenue and EBITDA expand as new satellites are launched and
commissioned, the compliance cushion may be somewhat tight.  This
may limit effective availability under the RTL.  With a full
year's contribution from Nimiq 5 and Telestar 11N, both of which
were launched in 2009, and with Telestar 14R and Nimiq 6 scheduled
to be launched, respectively, in 2011 and 2012, Moody's expect
this matter will sort itself out and do not anticipate financial
covenant compliance issues.  However, until the compliance cushion
significantly expands, the SGL rating will remain no better than
SGL-3.

Ratings and Outlook Affirmations:

Issuer: Telesat Canada

* Corporate Family Rating: Unchanged at B2

* Probability of Default Rating: Unchanged at B2

* Senior Secured Credit Facility: Unchanged at B1 (LGD3, 33%)

* Senior Unsecured Regular Bond/Debenture: Unchanged at Caa1
  (LGD6, 83%)

* Senior Subordinated Bond/Debenture: Unchanged at Caa1 (LGD6,
  94%)

* Speculative Grade Liquidity Rating: Unchanged at SGL-3

* Outlook: Unchanged at Stable

Moody's most recent rating action related to Telesat was taken on
February 25, 2009, at which time Moody's affirmed the company's B2
CFR/PDR.

Headquartered in Ottawa, Ontario, Canada, Canada, is the world's
fourth largest provider of fixed satellite services and one of
three companies operating on a global basis.  The company has a
fleet of twelve in-orbit satellites and two additional satellites
under construction, and manages the operations of 13 additional
satellites for third parties.  Telesat is an indirect, wholly-
owned subsidiary of Telesat Holdings Inc.  Other than its
ownership interest in Telesat, Telesat Holdings has no other
material assets or operations.  With that and since Telesat
Holdings guarantees Telesat Canada's rated debts, Moody's rely on
Telesat Holdings financial statements in rating Telesat Canada.


TEXAS RANGERS: Secured Lenders Ask for Reconsideration
------------------------------------------------------
Bill Rochelle at Bloomberg News reports that secured lenders of
the Texas Rangers baseball club filed a motion asking for
reconsideration of the order approving an Aug. 4 auction where a
group led by current team President Nolan Ryan and sports lawyer
Chuck Greenberg would continue to be the stalking horse bidder.

The lenders, according to the report, contend that they were
ambushed at a hearing on July 13 when they thought the subject was
a motion by the purchaser to compel the team to move forward with
a contract signed just before the bankruptcy filing on May 24.
Instead, the lenders say they were met in court by the judge who
on his own was proposing rules governing an auction to take place
Aug. 4.

The lenders say they had no chance to digest the proposed auction
rules.  They argue the rules "serve only the purpose of overlaying
the fa‡ade of an auction process over a case that has been
fundamentally flawed from the beginning."

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.

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.


THORNBURG MORTGAGE: U.S. Trustee Sues Orrick for Dishonesty
-----------------------------------------------------------
U.S. Trustee W. Clarkson McDow, Jr. is suing Orrick Herrington
Sutcliffe, claiming that the San Francisco-based law's firm's
alleged "dishonesty" in Thornburg Mortgage Inc.'s chapter 11 case
has damaged the integrity of the bankruptcy system, American
Bankruptcy Institute reports.

Based in Santa Fe, New Mexico, Thornburg Mortgage Inc. (NYSE: TMA)
-- http://www.thornburgmortgage.com/-- was a single-family
residential mortgage lender focused principally on prime and
super-prime borrowers seeking jumbo and super-jumbo adjustable
rate mortgages.  It originated, acquired, and retained investments
in adjustable and variable rate mortgage assets.  Its ARM assets
comprised of purchased ARM assets and ARM loans, including
traditional ARM assets and hybrid ARM assets.

Thornburg Mortgage, Inc., and its four affiliates filed for
Chapter 11 on May 1 (Bankr. D. Md. Lead Case No. 09-17787).
Thornburg has changed its name to TMST, Inc.

Judge Duncan W. Keir is handling the case.  David E. Rice, Esq.,
at Venable LLP, in Baltimore, Maryland, has been tapped as
counsel.  Orrick, Herrington & Sutcliffe LLP is employed as
special counsel.  Jim Murray, and David Hilty, at Houlihan Lokey
Howard & Zukin Capital, Inc., have been tapped as investment
banker and financial advisor.  Protiviti Inc. has also been
engaged for financial advisory services.  KPMG LLP is the tax
consultant.  Epiq Systems, Inc., is claims and noticing agent.  In
its bankruptcy petition, Thornburg listed total assets of
$24,400,000,000 and total debts of $24,700,000,000, as of
January 31, 2009.

On October 28, 2009, the Court approved the appointment of Joel I.
Sher as the Chapter 11 Trustee for the Company, TMST Acquisition
Subsidiary, Inc., TMST Home Loans, Inc. and TMST Hedging
Strategies, Inc.


TRIBUNE CO: Barclays Sells $150 Mil. in Claims to Oaktree
---------------------------------------------------------
American Bankruptcy Institute reports that Barclays Bank plc has
sold claims in Tribune Co. worth more than $150 million in face
value to Oaktree Capital Management LP.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austion LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North Americal LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.

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


TRICO MARINE: Issues Senior Secured Notes Due 2014
--------------------------------------------------
The indenture dated as of October 30, 2009, among Trico Shipping
AS, as issuer, the guarantors identified therein and Deutsche Bank
National Trust Company, as trustee thereunder, pursuant to which
Trico Shipping's 11 7/8% senior secured notes due 2014 were
issued, includes monthly financial covenants relating to minimum
cash and minimum EBITDA during the forbearance period.

Trico Shipping and Trico Supply AS will deliver to the Trustee
officer's certificates relating to the covenants no later than the
10th calendar day and the 30th calendar day following the end of
each fiscal month, beginning with the month ended June 30, 2010.

                         About Trico Marine

Woodlands, Texas-based Trico Marine Services is a provider of
support vessels for the offshore oil and natural-gas industry.
At March 31, 2010, the Company had total assets of $1,013,628,000
against total liabilities of $985,940,000.

Trico Marine has failed to make the $8.0 million interest payment
on $202.8 million in aggregate principle amount of its 8.125%
secured convertible debentures due 2013.  On June 17, 2010, the
30-day grace period permitted under the 8.125% Indenture expired,
triggering an Event of Default.

The Troubled Company Reporter on June 16, 2010, said Trico Marine
has signed a revised loan agreement on June 11 requiring the
company to file under Chapter 11 no later than Sept. 8.  The
agreement with affiliates Tennenbaum Capital Partners LLC provides
for converting the existing $25 million revolving credit
commitment into a $25 million term loan commitment.  Nordea Bank
Finland plc, New York Branch, as collateral agent, Obsidian Agency
Services, Inc., as administrative agent, also signed the
agreement.

As reported by the TCR on June 15, 2010, Trico said that it and
Evercore Partners are in discussions with various potential
lenders and some of the Company's existing debtholders regarding
obtaining additional financing in connection with a possible
proceeding under Chapter 11 of the Bankruptcy Code.


TRONOX INC: Says Anadarko Throwing 'Wrench' into Case
-----------------------------------------------------
Bill Rochelle at Bloomberg News reports that Tronox Inc. said in
papers filed with the U.S. Bankruptcy Court that Kerr-McGee Corp.
and its parent Anadarko Petroleum Corp. are engaged in "a
transparent attempt" to "throw a wrench" into the reorganization.

According to the report, Tronox was responding to a motion from
late June where Kerr-McGee and Anadarko are asking the bankruptcy
court to compel assumption of one of the agreements when Tronox
was spun off from Kerr-McGee, the former parent.  Tronox says that
the agreement is at the heart of the lawsuit where it is hoping to
recover environmental remediation costs it was given when spun off
from Kerr-McGee in March 2006.  Tronox says the agreement was
among the transactions that can be voided as fraudulent transfers.

A hearing on the dispute is set for July 21.

                       About Tronox Inc.

Tronox Inc., aka New-Co Chemical, Inc., and 14 other affiliates
filed for Chapter 11 protection on January 13, 2009 (Bankr.
S.D.N.Y. Case No. 09-10156).  The case is before Hon. Allan L.
Gropper. Richard M. Cieri, Esq., Jonathan S. Henes, Esq., and
Colin M. Adams, Esq., at Kirkland & Ellis LLP in New York,
represent the Debtors.  The Debtors also tapped Togut, Segal &
Segal LLP as conflicts counsel; Rothschild Inc. as investment
bankers; Alvarez & Marsal North America LLC, as restructuring
consultants; and Kurtzman Carson Consultants serves as notice and
claims agent.

An official committee of unsecured creditors and an official
committee of equity security holders have been appointed in the
cases.  The Creditors Committee has retained Paul, Weiss, Rifkind,
Wharton & Garrison LLP as counsel.

Until September 30, 2008, Tronox Inc. was publicly traded on the
New York Stock Exchange under the symbols TRX and TRX.B.  Since
then, Tronox Inc. has traded on the Over the Counter Bulletin
Board under the symbols TROX.A.PK and TROX.B.PK.  As of
December 31, 2008, Tronox Inc. had 19,107,367 outstanding shares
of class A common stock and 22,889,431 outstanding shares of class
B common stock.

Bankruptcy Creditors' Service, Inc., publishes Tronox Bankruptcy
News.  The newsletter tracks the Chapter 11 proceeding undertaken
by Tronox Inc. and its 14 affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


TRUMP ENTERTAINMENT: Successfully Emerges From Chapter 11
---------------------------------------------------------
Trump Entertainment Resorts, Inc., together with certain of its
subsidiaries, has successfully emerged from a Chapter 11
reorganization process.  Upon emergence, Trump Entertainment
Resorts has significant new financial strength and resources, and
a shared vision for stability and growth under a new ownership
structure.

Pursuant to the confirmed reorganization plan, $225 million of new
equity has been injected into the Company, including $125 million
intended for the reduction of pre-petition debt.  Through the
reorganization process, the Company has eliminated approximately
$1.3 billion in debt.  Additionally, the Company will be able to
retain the Trump brand for Atlantic City operations.  Donald J.
Trump and his daughter, Ivanka Trump, supported the Company's
confirmed plan of reorganization.

Earlier this week, the New Jersey Casino Control Commission
granted the Company the required approvals to consummate the
approved plan of reorganization.  The Casino Control Commission
also approved several petitions of Avenue Capital Group and
affiliated companies necessary for the transaction to be completed
and for Marc Lasry to assume the position of chairman of the board
of the reorganized company.  Mr. Lasry is the chairman and chief
executive officer of Avenue Capital Group, a global investment
firm, which served as the lead bondholder throughout the
reorganization process and is now the largest shareholder of the
reorganized Company.

Mr. Lasry commented, "Trump Entertainment Resorts today begins a
period marked by new financial strength.  Having just completed
the transaction that made the Company's emergence official, I am
more excited than ever about the future."

Mark Juliano, the chief executive officer of the Company and a
member of the newly established board of directors, noted, "Our
company is now well-capitalized and possesses a long-term strategy
for growth.  Our new board of directors and ownership group have
made it clear that they are dedicated to the success of the
Company over both the short- and long-terms.  We are excited about
the new chapter that begins today for Trump Entertainment
Resorts."

Mr. Juliano further thanked the Company's employees for their
continued dedication through the reorganization process.  "The
focus and support of our team in Atlantic City has truly been
extraordinary, and I want to thank them for their perseverance.  I
know now more clearly than ever that our team is second to none,
and I look forward to sharing our future successes together."

                     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.


TRUVO USA: Disclosure Statement Hearing Scheduled for August 5
--------------------------------------------------------------
Truvo USA LLC, et al., filed with the U.S. Bankruptcy Court for
the Southern District of New York a proposed Plan of
Reorganization and an explanatory Disclosure Statement.

The Debtors will begin soliciting votes on the Plan following
approval of the adequacy of the information in the Disclosure
Statement.  A hearing on the Disclosure Statement is scheduled for
August 5.

The Plan was negotiated with holders of 80% of the EUR778 million
($1.007 billion) of first-priority senior debt and holders of 15
percent of the second-priority debt.

According to the Disclosure Statement, the Plan provides for the
restructuring of the Debtors' liabilities to maximize recovery to
all stakeholders and to enhance the financial viability of the
Reorganized Truvo Group.

Under the Plan, the Financial Restructuring provides for, among
other things:

   a) the discharge of claims and liens against the Debtors;

   b) the implementation of a series of transactions, including
      the transfer to Newco of Senior Debt Claims against TAC, and
      the release; and

   c) the issuance of New Common Stock and Junior Creditor
      Warrants, and entry into the New Bank Debt and New PIK Debt.

Upon the completion of these transactions after the effective
date:

   a) Equityco and PIKco will operate as the holding companies for
      Holdco.

   b) Holdco will operate as the holding company for Newco.


   c) Newco will operate as the holding company for (i)
      Reorganized Truvo, and (ii) Truvo Belgium and its
      subsidiaries (all Non-Debtor Subsidiaries).

   d) Reorganized Truvo will remain in existence to (a) serve as
      collection agent for the Debtors for the purpose of
      collecting the Tax Refund, if any, (b) take actions as
      required under the Plan, and (c) fulfill its mandate as
      proxy pursuant to the Plan, and thereafter will be
      liquidated.

   e) Each of the Debtors (other than TAC) will be liquidated on
      the Effective Date.

                        Treatment of Claims

The senior lenders under the plan are to receive the new equity
plus EUR600 million new debt.  In return for the EUR595 million on
two issues of second-priority notes, the holders are to be given
EUR15 million and warrants for 14% of the stock at a EUR150
million price.  If the second lien lenders vote against the plan,
they are to receive nothing.  For the EUR174 million on pay-in-
kind third-priority notes, holders will receive warrants for 1
percent of the stock.  If the class votes against the plan, they
are to receive nothing.

The new debt for the senior lenders is to consist of EUR350
million in first-lien debt, EUR100 million in second-lien debt,
and EUR150 million in pay-in-kind debt.

Under the Plan, the estimated percentage recovery for:

   -- Classes 1B, 2B, 3B, 4B, 5B Other Secured Claims is 100%.

   -- Classes 3C, 4C, 5C Senior Debt Claims is 63.8% - 84.1%.

   -- Classes 2D, 3D, 4D, 5D HY Notes Claims is 2.8% - 4.8%, if
      the HY Noteholder Classes vote to Accept the Plan; and 0%,
      if the HY Noteholder Classes does not vote to Accept the
      Plan.

   -- Class 2E PIK Loans Claims is 0.0% - 0.5%, if the HY
      Noteholder Classes and the PIK Lender Class vote to Accept
      the Plan; and 0%, if HY Noteholder Classes and the PIK
      Lender Class does not vote to Accept the Plan.

   -- Classes 1F, 2F, 3F, 4F, 5F General Unsecured Claims is 50% -
      100%.

   -- Classes 1G, 2G, 3G, 4G, 5G Statutory Subordinated Claims
      will not receive or retain any distribution or property on
      account of the Allowed Statutory Subordinated Claims.

   -- Class 1H Holders of Old Equity Interests will not receive or
      retain any distribution or property on account of the Old
      Equity Interests.  On the effective date, all Old Equity
      Interests will be cancelled.

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

The Debtors are represented by:

     Cleary Gottlieb Steen & Hamilton LLP
     Thomas J. Moloney, Esq.
     Sean A. O'Neal, Esq.
     One Liberty Plaza
     New York, NY 10006
     Tel: (212) 225-2000
     Fax: (212) 225-3999

                           About Truvo USA

Wilmington, Delaware-based Truvo USA LLC publishes print and
online directories through its operating subsidiaries.  The
operating subsidiaries have not sought protection under Chapter 11
protection or any other insolvency regime.  The Truvo Chapter 11
debtors are owned Truvo Luxembourg S.a.r.l, which is not a debtor
in the Chapter 11 proceedings.

The Company filed for Chapter 11 bankruptcy protection on July 1,
2010 (Bankr. S.D.N.Y. Case No. 10-13513).  Sean A. O'Neal, Esq.,
and Thomas J. Moloney, Esq., at Cleary Gottlieb Steen & Hamilton,
LLP, and Vincent Edward Lazar, Esq., at Jenner & Block LLP, assist
the Company in its restructuring effort.  The Company listed
$500,000,001 to $1 billion in assets and more than $1 billion in
liabilities.

Jenner & Block LLP and Simpson Thacher & Bartlett LLP are the
Company's special counsel.

Houlihan Lokey Howard & Zukin (Europe), Limited, is the Company's
restructuring and financial advisor.


TSG INC: PNC Cash Collateral Hearing Continued Until July 21
------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Pennsylvania
authorized TSG Incorporated to use the cash collateral of PNC
Bank, National Association until August 21, 2010.

A continued hearing on the Debtor's use of cash collateral will be
held on July 21, at 9:30 a.m. E.T. in Courtroom No. 3, 900 Market
Street, Philadelphia, Pennsylvania.

As of petition date, the Debtor's indebtedness consists of:

   -- $2,345,138 under the term loan;

   -- $1,745,257 under the committed line of credit;

   -- $845,833 under he capital expenditures line of credit; and

   -- $98,070 under the SWAP agreement.

The Debtor would 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 PNC a replacement lien on all
properties and assets of the Debtor except for the Debtor's
interest in the real property located at (a) 1006 19th Street SW,
Hickory, North Carolina; (b) 5275 Wolfe Road, Hickory, North
Carolina; and (c) 1703 Pineview Street, Conover, North Carolina.

As additional adequate protection, the Debtor will make periodic
cash payments to PNC.

Pursuant to the order, the Debtor may not use, sell, or otherwise
transfer any of its assets outside the ordinary course of
business, without the written consent of PNC.

The Debtor's cash collateral use is also subject to:

   -- filing of a Plan of Reorganization providing for the full
      payment of PNC's claim by July 21;

   -- filing a motion to enter into a transaction having a value
      to the estate of $1,000,000 or more and where a significant
      portion of the proceeds will be used to pay down the
      prepetition indebtedness; or

   -- payment of first principal paydown amounting to $30,000 on
      July 22.

                      About TSG Incorporated

North Wales, Pennsylvania-based TSG Incorporated operates a real
estate business.  Founded in 1901 under the name of Levy's
International Water Shrinking and Drying Company, the Debtor has
operated as a privately held, family owned business for over 108
years.  Locally headquartered in North Wales, Pennsylvania, the
Debtor is in the business of fabric finishing, coating and
embossing.  TSG -- which is an acronym for "The Synthetics Group"
-- is one of the largest commission finishers in the United
States.  The Company filed for Chapter 11 bankruptcy protection on
November 29, 2009 (Bankr. E.D. Pa. Case No. 09-19124).  Michael
Jason Barrie, Esq., at Benesch Friedlander Coplan & Aronoff LLP
assists the Company in its restructuring effort.  The Company
listed $10,000,001 to $50,000,000 in assets and $1,000,001 to
$10,000,000 in liabilities.


UNIGENE LABORATORIES: Directors Get Shares as Fees Payment
----------------------------------------------------------
Unigene Laboratories Inc. director Peter Slusser disclosed
acquiring 11,842 company shares on July 6, 2010, raising his stake
to 57,315 shares.  The shares were granted on July 6 as payment of
director fees in the amount of $9,000.  Shares vested immediately.

Unigene director Eiref Zvi disclosed acquiring 15,789 company
shares on July 6, 2010, raising his stake to 104,501 shares.  The
shares were granted on July 6 as payment of director fees in the
amount of $12,000.  Shares vested immediately.

Unigene director Marvin Miller disclosed acquiring 15,789 company
shares on July 6, 2010, raising his stake to 88,087 shares.  The
shares were granted on July 6 as payment of director fees in the
amount of $12,000.  Shares vested immediately.

Unigene director Bruce S. Morra disclosed acquiring 11,842 company
shares on July 6, 2010, raising his stake to 156,315 shares.  The
shares were granted on July 6 as payment of director fees in the
amount of $9,000.  Shares vested immediately.

Unigene director Allen Bloom disclosed acquiring 23,684 company
shares on July 6, 2010, raising his stake to 121,630 shares.  The
shares were granted on July 6 as payment of director fees in the
amount of $18,000.  Shares vested immediately.

                           About Unigene

Unigene Laboratories, Inc. OTCBB: UGNE) -- http://www.unigene.com/
-- is a biopharmaceutical company focusing on the oral and nasal
delivery of large-market peptide drugs.

                        Going Concern Doubt

Grant Thornton LLP of New York expressed substantial doubt against
Unigene Laboratories Inc.'s ability as a going concern.  The firm
noted that the Company has incurred a net loss of $13,400,000
during the year ended December 31, 2009 and has an accumulated
deficit of approximately $143,000,000 as of December 31, 2009.  As
of that date, the Company's current liabilities exceeded its
current assets by $1,251,000 and its total liabilities exceeded
total assets by $30,442,000.

The Company's balance sheet for December 31, 2009, showed
$23,954,941 and $54,396,602 total liabilities for a $30,441,661
total stockholders' deficit.


UNIGENE LABORATORIES: Registers 80,760,650 for Resale
-----------------------------------------------------
Unigene Laboratories, Inc., filed with the Securities and Exchange
Commission a prospectus relating to the sale of up to 80,760,650
shares of Unigene common stock, par value $.01 per share, by
certain stockholders.  Unigene said 72,114,836 of the shares will
be issuable upon the conversion of senior secured convertible
notes held by the selling stockholder and the balance of which are
currently held of record by the selling stockholder.  The prices
at which the selling stockholder may sell the shares will be
determined by the prevailing market price for the shares or in
negotiated transactions.  The Company will not receive any
proceeds from the sale of the shares by the selling stockholder.
All costs, expenses and fees in connection with the registration
of these shares will be borne by the Company.

Pursuant to an Amended and Restated Registration Rights Agreement,
dated March 17, 2010, between the Company and the selling
stockholder, the Company agreed to file the registration statement
of which this prospectus forms a part to cover the resale by the
selling stockholder of the shares of the Company's common stock
registered, including those shares issuable from time to time upon
the conversion of senior secured convertible notes issued by the
Company to the selling stockholder pursuant to an Amended and
Restated Financing Agreement, dated March 16, 2010, by and among
Unigene and Victory Park Management, LLC, as administrative agent
and collateral agent, and the selling stockholder.

A full-text copy of the prospectus is available at no charge
at http://ResearchArchives.com/t/s?66b0

                           About Unigene

Unigene Laboratories, Inc. OTCBB: UGNE) -- http://www.unigene.com/
-- is a biopharmaceutical company focusing on the oral and nasal
delivery of large-market peptide drugs.

                        Going Concern Doubt

Grant Thornton LLP of New York expressed substantial doubt against
Unigene Laboratories Inc.'s ability as a going concern.  The firm
noted that the Company has incurred a net loss of $13,400,000
during the year ended December 31, 2009 and has an accumulated
deficit of approximately $143,000,000 as of December 31, 2009.  As
of that date, the Company's current liabilities exceeded its
current assets by $1,251,000 and its total liabilities exceeded
total assets by $30,442,000.

The Company's balance sheet for December 31, 2009, showed
$23,954,941 and $54,396,602 total liabilities for a $30,441,661
total stockholders' deficit.


UNITED ENERGY: Jewett Schwartz Raises Going Concern Doubt
----------------------------------------------------------
United Energy Corp. filed on July 14, 2010, its annual report on
Form 10-K for the fiscal year ended March 31, 2010.

Jewett, Schwartz, Wolfe & Associates, in Hollywood, Fla.,
expressed substantial doubt about the Company's ability to
continue as a going concern.  The independent auditors noted that
the Company has operating and liquidity concerns, and has incurred
net losses of $23,546,072 as of March 31, 2010.

The Company reported a net loss of $1,464,892 on $1,771,720 of
revenue for fiscal 2010, compared with a net loss of $1,338,237 on
$1,206,231 of revenue for fiscal 2009.

The Company's balance sheet at March 31, 2010, showed $1,120,163
in assets, $1,081,654 of liabilities, and $38,509 of stockholders'
equity.

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

               http://researcharchives.com/t/s?66a2

United Energy Corp. -- http://www.unitedenergycorp.net/--
develops and distributes environmentally friendly specialty
chemical products with applications in several industries and
markets.

Through its wholly owned subsidiary, Green Globe Industries, Inc.,
the Company provides the U.S. military with a variety of solvents,
paint strippers and cleaners under its trade name "Qualchem."  The
Company is headquartered in Secaucus, New Jersey.


U.S. CONCRETE: Has Until July 23 to File Schedules and Statements
-----------------------------------------------------------------
The Hon. Peter J. Walsh of the U.S. Bankruptcy Court for the
District of Delaware extended U.S. Concrete, Inc., et al.'s time
to file their (i) schedules of assets and liabilities; (ii)
statement of financial affairs; (iii) schedules of current income
and expenditures; and (iv) statements of executory contracts and
unexpired leases until July 23, 2010.

                       About U.S. Concrete

Houston, Tex.-based U.S. Concrete, Inc., aka RMX Industries, Inc.,
is a major producer of ready-mixed concrete, precast concrete
products and concrete-related products in select markets in the
United States.

The Company filed for Chapter 11 bankruptcy protection on
April 29, 2010 (Bankr. D. Del. Case No. 10-11407).  Patrick J.
Nash Jr., Esq., and Ross M. Kwasteniet, Esq., at Kirkland & Ellis
LLP, assist the Company in its restructuring effort as bankruptcy
counsel.  James E. O'Neill, Esq., Laura Davis Jones, Esq., and
Mark M. Billion, Esq., at Pachulski Stang Ziehl & Jones LLP, is
the Company's co-counsel.  Epiq Bankruptcy Solutions is the
Company's claims agent.

According to the schedules, the Company says that assets total
$389,160,000 while debts total $399,351,000.

The Debtor's affiliates, Alberta Investments, Inc., et al., filed
separate Chapter 11 petitions on April 29, 2010.


USG CORP: Judith Sprieser to Resign as Director
-----------------------------------------------
Judith A. Sprieser, a director of USG Corporation, advised the
Chairman of the Board of the Registrant that she intends to resign
as a director at or before the company's annual meeting of
stockholders scheduled to be held in May 2011.

USG Corporation, headquartered in Chicago, Illinois, is a leading
producer and distributor of building materials in the Unites
States, Canada and Mexico.  The company manufactures and markets
gypsum wallboard and operates a specialty distribution business
that sells to professional contractors.  It also manufactures
ceiling tiles and ceiling grids used primarily in commercial
applications.  Revenues for the last 12 months through March 31,
2010, totaled approximately $3.1 billion.

                           *     *     *

As reported by the Troubled Company Reporter on June 28, 2010,
Moody's Investors Service downgraded USG Corporation's Corporate
Family Rating and Probability of Default Rating to Caa1 from B3.
In a related rating action Moody's downgraded the guaranteed
senior unsecured notes due 2014 to B2 from B1 and the other senior
unsecured debt to Caa2 from Caa1.  The Speculative Grade Liquidity
rating remains SIGIL-3.  The outlook is stable.

The downgrades result from weaker than previously anticipated
operating performance.  Moody's believes that potential demand
increases for wallboard from North American new home construction
and repair and remodeling will not be adequate to generate
sufficient volumes and operating profits to cover USG's interest
expense over the intermediate term.  Furthermore, the non-
residential construction end market, which accounts for about 30%
of USG's revenues, is expected to contract well into 2011.


VALLEJO, CALIFORNIA: Tough Budget Puts Police Jobs in Jeopardy
--------------------------------------------------------------
American Bankruptcy Institute that as Vallejo, Calif., works
through its third year of bankruptcy, city officials are giving
local police a blunt choice: Forgo a raise or the city will lay
off officers to pay for others' raises.

Vallejo on May 23, 2008, filed a petition for protection under the
provisions of chapter 9 of the U. S. Bankruptcy Code.  On June 17,
2008, the City filed a motion to reject its collective bargaining
agreements with each of its four labor groups: Vallejo Police
Officers Association (VPOA); International Brotherhood of
Electrical Workers (IBEW); Confidential Administrative, Managerial
and Professional Association (CAMP), and IAFF.  Prior to the
hearing for the consideration of the rejection of the agreements,
the City reached supplemental agreements with VPOA and CAMP.  On
August 27, 2009, the City and IAFF signed a stipulation that
allowed the City to reject the IAFF agreement that would have run
through June 2010.  On September 1, 2009, the Bankruptcy Court
granted the City's motion to reject the IBEW agreement.  The City
and IAFF spent 5 days in mediation and commenced binding
arbitration hearings in January 2010.  Additional hearing dates
had been scheduled later this month.  During the interim period,
the City and IAFF resumed negotiations and reached an agreement on
the terms of a new agreement on February 18, 2010.


VICTOR SOTO: Case Summary & 18 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Victor Rene Oppenheimer Soto
        aka Hospital de Animales Perla Del Sur
        Perla Del Sur
        4003 Carlos Cartagena Street
        Ponce, PR 00717

Bankruptcy Case No.: 10-06287

Chapter 11 Petition Date: July 14, 2010

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

Debtor's Counsel: Rosalba Fourquet Lopez, Esq.
                  1440 Salud St., Suite 1 A
                  Ponce, PR 00730
                  Tel: (787) 842-3382
                  Fax: (787) 842-3331
                  E-mail: rfourquet@prtc.net

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

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

A list of the Debtor's 18 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/prb10-06287.pdf

The petition was signed by the Debtor.


VISTEON CORP: Considering Stock Sale to Unsecured Creditors
-----------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Visteon Corp.
prevailed over a group of dissident unsecured creditors and was
given an extension until Oct. 15 of the exclusive right to propose
a Chapter 11 plan.  A company lawyer said in court July 15 that
talks are being conducted about giving unsecured creditors the
right to buy $15.75 million of new stock.

Visteon has a confirmation hearing for approval of its
reorganization plan scheduled to begin Sept. 28.  In addition to
shareholders and some creditors who are opposed, a group of trade
suppliers say they have enough "no" votes to block approval by the
unsecured creditor class.

                         About Visteon Corp.

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is a global automotive
supplier that designs, engineers and manufactures innovative
climate, interior, electronic and lighting products for vehicle
manufacturers, and also provides a range of products and services
to aftermarket customers.  The Company has corporate offices in
Van Buren Township, Michigan (U.S.); Shanghai, China; and Kerpen,
Germany.  It has facilities in 27 countries and employs roughly
35,500 people.  The Company has assets of US$4,561,000,000 and
debts of US$5,311,000,000 as of March 31, 2009.

Visteon Corporation and 30 of its affiliates filed for Chapter 11
protection on May 28, 2009, (Bank. D. Del. Case No. 09-11786
through 09-11818).  Judge Christopher S. Sontchi oversees the
Chapter 11 cases.  James H.M. Sprayregen, Esq., Marc Kieselstein,
Esq., and James J. Mazza, Jr., Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, represent the Debtors in their restructuring
efforts.  Laura Davis Jones, Esq., James E. O'Neill, Esq., Timothy
P. Cairns, Esq., and Mark M. Billion, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, serve as the Debtors'
local counsel.  The Debtors' investment banker and financial
advisor is Rothschild Inc.  The Debtors' notice, claims, and
solicitation agent is Kurtzman Carson Consultants LLC.  The
Debtors' restructuring advisor is Alvarez & Marsal North America,
LLC.

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


WHITE ENERGY: Wins Confirmation of Reorganization Plan
------------------------------------------------------
A judge has signed off on White Energy Inc.'s third amended plan
of reorganization, paving the way for the bankrupt ethanol maker
to emerge from Chapter 11 restructuring, Bankruptcy Law360
reports.

Law360 says Judge Christopher C. Sontchi approved the
reorganization plan in the U.S. Bankruptcy Court for the District
of Delaware on Friday.  The company filed its third amended plan
Tuesday.

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.


WINALTA INC: Gets 2nd CCAA Protection Extension Until August 6
--------------------------------------------------------------
Winalta Inc. disclosed that the Court of Queen's Bench of Alberta,
Judicial Centre of Edmonton has granted an extension, until
August 6, 2010, of the initial Order granted on April 26, 2010
pursuant to which Winalta was granted creditor protection under
the Companies' Creditors Arrangement Act.  The extension was
supported by Deloitte & Touche, Inc., the Court-appointed Monitor
of Winalta's CCAA process and was not objected to by counsel to
Winalta's secured creditor, HSBC Bank of Canada.

The Court has approved the sale of 29 homes and lots plus 3 vacant
lots in Sylvan Lake, Alberta.  As a result of this sale, Winalta
will receive $3,825,000. The completion of this transaction is
expected to occur on July 6, 2010.

The Court has also approved the sale of 118 acres of residential
property in Estevan, Saskatchewan.  As a result of this sale,
Winalta will receive $1,600,000.  The completion of this
transaction is expected to occur on July 30, 2010.

The Court has additionally granted Winalta an Order relieving it
of its obligation to hold an annual meeting of its shareholders
within the time prescribed by the Business Corporations Act
(Alberta) until such time as the Court orders the annual meeting
of Winalta's shareholders to be called.

                         About Winalta Inc

Winalta Inc. is an integrated company with three main operating
divisions, Homes, Industrial, and Manufacturing.  The Homes
Division sells CSA approved homes via retail centers, communities
and supply arrangements.  The Oilfield Division leases portable
industrial accommodations and catering services to the energy
sector.


WORLDGATE COMMUNICATIONS: New CFO Dole Receives Stock Options
-------------------------------------------------------------
James G. Dole, WorldGate Communications, Inc.'s CFO, Treasurer and
SVP-Finance, disclosed receiving on July 13, 2010, options to buy
up to 1,500,000 shares, according to this vesting schedule -- 25%
on each of July 13, 2011, July 13, 2012, July 13, 2013 and
July 13, 2014.

Mr. Dole was appointed as the Company's CFO, Treasurer and Senior
Vice President-Finance effective as of July 13, 2010, replacing
Joel Boyarski.

Trevose, Pa.-based Worldgate Communications, Inc., is a provider
of digital voice and video phone services and next generation
video phones.  The Company designs and develops digital video
phones featuring real-time, two-way video.  It also provides a
turn-key digital voice and video communication services platform
supplying complete back-end support services.

                           *     *     *

The Company's balance sheet at March 31, 2010, showed
$6,252,000 in assets and $7,275,000 of liabilities, for a
stockholders' deficit of $1,023,000.


* House Bill Would Limit a Bankrupt BP's Ability to Sell Assets
---------------------------------------------------------------
Bill Rochelle at Bloomberg News reports that the House of
Representatives passed an amendment to the U.S. Bankruptcy Code on
July 1 that would limit the ability of BP Plc to sell property
without assuring that claims arising from the oil spill are paid
in full.  The amendment would apply to BP were it to file
bankruptcy in the U.K. or the U.S.  If adopted in the Senate and
signed by the president, H.R. 5503 would change bankruptcy law by
preventing a company from selling "significant property" unless
creditors with personal injury or property damage claims from an
oil spill are being paid in full or two-thirds of creditors with
oil spill claims consent to the sale.  Similarly, a company
couldn't sell property under a Chapter 11 plan unless two-thirds
in amount of oil spill claims vote in favor.  The bill would
preclude BP from using the so-called cramdown process to confirm a
plan and sell substantial property over a "no" vote from creditors
in the oil spill class.

According to Mr. Rochelle, if an involuntary bankruptcy petition
were filed against BP or subsidiaries, the bill likewise would
prohibit selling substantial property absent the same protections
for spill creditors.

Mr. Rochelle continues that the bill as adopted in the House
deleted provisions originally proposed by House Judiciary
Committee Chairman John Conyers Jr. that would have precluded BP's
use of Chapter 15 of the Bankruptcy Code.  With the provisions
deleted, if BP or subsidiaries were file their principal
bankruptcies in the U.K., Chapter 15 would allow the U.K. court to
decide how creditors should be paid and whether their claims are
valid.  The bill as passed in the House nonetheless appears to
preclude BP from selling property in the U.S. under Chapter 15
unless oil spill creditors consent or are paid in full.


* S&P's Tally of Year's Corporate Defaults Now at 44
----------------------------------------------------
The year-to-date 2010 tally of global corporate defaults remains
at 44 after no issuers defaulted last week, said an article
published by Standard & Poor's, titled "Global Corporate
Default Update (July 9 - 15, 2010) (Premium)."

By region, the current year-to-date default tallies are 32 in the
U.S., two in Europe, four in the emerging markets, and six in the
other developed region (Australia, Canada, Japan, and New
Zealand).  So far this year, distressed exchanges account for 14
defaults, missed interest or principal payments are responsible
for 13, Chapter 11 filings account for 11, regulatory directives
and receiverships account for one each, and the remaining four
defaulted issuers are confidential.

Of the global corporate defaulters in 2010, 41% of issues with
available recovery ratings had recovery ratings of '6' (indicating
our expectation for negligible recovery of 0%-10%), 13% of the
issues had recovery ratings of '5' (modest recovery prospects of
10%-30%), 8% had recovery ratings of '4' (average recovery
prospects of 30%-50%), and 21% had recovery ratings of '3'
(meaningful recovery prospects of 50%-70%).  And for the remaining
two rating categories, 15% of the issues had recovery ratings of
'2' (substantial recovery prospects of 70%-90%) and 3% had
recovery ratings of '1' (very high recovery prospects of 90%-
100%).


* Six Takeovers Bring Year's Bank Failures to 96
------------------------------------------------
Six U.S. banks were taken over by regulators on July 16, bringing
total bank failures for the year to 96.  The failures will cost
the Federal Deposit Insurance Corp. a combined $334.8 million.

To protect depositors, the FDIC entered into purchase and
assumption agreements with NAFH National Bank, Miami, Florida, a
newly-chartered bank subsidiary of North American Financial
Holdings, Inc., Charlotte, North Carolina, to assume all the
deposits and essentially all the assets of the three failed
institutions:

  -- Metro Bank of Dade County, Miami, Florida;
  -- Turnberry Bank, Aventura, Florida; and
  -- First National Bank of the South, Spartanburg, South
     Carolina.

According to Bloomberg News, North American Financial Holdings was
formed and is run by the former chief of Bank of America's
investment banking unit.  North American, headed by Gene Taylor
and backed by other longtime Bank of America executives, has
raised $900 million from investors to buy banking assets.
Bloomberg notes that the North American is only the second
privately-backed firm this year to be granted permission by the
F.D.I.C. to purchase failed banks.  Through June, the F.D.I.C. had
awarded only three of 86 failed banks to private investors, with
all three taken over by privately-backed Premier American Bank.

As to the three other banks closed last Friday -- Commercial Bank,
Alma, Michigan, is assuming all of the deposits of Mainstreet
Savings Bank, FSB.  CenterState Bank of Florida, National
Association, Winter Haven, Florida, is taking over Olde Cypress
Community Bank.  Bank of the Ozarks, Little Rock, Arkansas, is
assuming all of the deposits of Woodlands Bank.

In accordance with Federal law, allowed claims against failed
financial institutions will be paid, after administrative
expenses, in this order of priority:

    1. Depositors
    2. General Unsecured Creditors
    3. Subordinated Debt
    4. Stockholders

                   2010 Failed Banks List

The FDIC was appointed as receiver for the closed banks.  To
protect the depositors, the FDIC entered into a purchase and
assumption agreement with various banks that agreed to assume the
deposits of most of the closed banks.  The FDIC also entered into
loss-share transactions on assets bought by the banks.

For this year, the failed banks are:

                              Loss-Share
                              Transaction Party     FDIC Cost
                 Assets of    Bank That Assumed   to Insurance
                 Closed Bank  Deposits & Bought      Fund
Closed Bank       (millions)   Certain Assets       (millions)
-----------       ----------   --------------      -----------
Turnberry Bank          $263.9    NAFH National            $34.4
First National Bank     $682.0    NAFH National            $74.9
Mainstreet Savings       $97.4    Commercial Bank          $11.4
Woodlands Bank          $376.2    Bank of the Ozarks      $115.0
Metro Bank of Dade      $442.3    NAFH National            $67.6
Olde Cypress Community  $168.7    CenterState Bank         $31.5
USA Bank, Port Chester  $193.3    New Century Bank         $61.7
Bay National Bank       $282.2    Bay Bank, FSB            $17.4
Ideal Federal Savings     $6.3    -- None --                $2.1
Home National Bank      $644.5    RCB Bank, Claremore      $78.7
First National          $252.5    The Savannah Bank        $68.9
High Desert              $80.3    First American           $20.9
Peninsula Bank          $644.3    Premier American        $194.8
Nevada Security Bank    $480.3    Umpqua Bank              $80.9
Washington First        $520.9    East West Bank          $158.4
TierOne Bank          $2,800.0    Great Western Bank      $297.8
Arcola Homestead         $17.0    -- None --                $3.2
First National Bank      $60.4    Jefferson Bank           $12.6
Sun West Bank           $360.7    City National Bank       $96.7
Granite Community       $102.9    Tri Counties Bank        $17.3
Bank of Fla- Southeast  $595.3    EverBank                 $71.4
Bank of Fla- Southwest  $559.9    EverBank                 $91.3
Bank of Fla- Tampa Bay  $245.2    EverBank                 $40.3
Pinehurst Bank           $61.2    Coulee Bank               $6.0
Southwest Community      $96.6    Simmons First Nat'l      $29.0
New Liberty Bank        $109.1    Bank of Ann Arbor        $25.0
Satilla Community Bank  $135.7    Ameris Bank              $31.3
Midwest Bank & Trust  $3,170.0    Firstmerit Bank         $216.4
1st Pacific Bank        $335.8    City National Bank       $87.7
Access Bank              $32.0    PrinsBank, Prinsburg      $5.5
Towne Bank of Ariz      $120.2    Commerce Bank            $41.8
The Bank of Bonifay     $242.9    First Federal Bank       $78.7
Frontier Bank         $3,500.0    Union Bank, NA        $1,370.0
BC National Banks        $67.2    Community First          $11.4
Champion Bank           $187.3    BankLiberty              $52.7
CF Bancorp            $1,650.0    First Michigan Bank     $615.3
Westernbank PR       $11,940.0    Banco Popular de PR   $3,310.0
R-G Premier Bank      $5,920.0    Scotiabank de PR      $1,230.0
Eurobank, SJ, PR      $2,560.0    Oriental Bank & Trust   $743.9
Lincoln Park Savings    $199.9    Northbrook Bank          $48.4
Peotone Bank            $130.2    First Midwest            $31.7
Wheatland Bank          $437.2    Wheaton Bank            $133.0
New Century Bank        $485.6    MB Financial            $125.3
Citizens Bank&Trust      $77.3    Republic Bank            $20.9
Broadway Bank         $1,200.0    MB Financial            $394.3
Amcore Bank           $3,800.0    Harris                  $220.3
Lakeside Community       $53.0    People's United          $11.2
Innovative Bank         $268.9    Center Bank              $37.8
City Bank             $1,130.0    Whidbey Island          $323.4
Butler Bank             $233.2    People's United          $22.9
AmericanFirst Bank       $90.5    TD Bank, N.A.            $10.5
First Federal           $393.3    TD Bank, N.A.             $6.0
Riverside National    $3,420.0    TD Bank, N.A.           $491.8
Tamalpais Bank          $628.9    Union Bank, N.A.         $81.1
Beach First National    $585.1    Bank of NC              $130.3
McIntosh Commercial     $362.9    CharterBank, West Point $123.3
Desert Hills Bank       $496.6    New York Community Bank $106.7
Unity National Bank     $292.2    Bank of the Ozarks       $67.2
Key West Bank            $88.0    Centennial Bank          $23.1
State Bank of Aurora     $28.2    Northern State Bank       $4.2
First Lowndes Bank      $137.2    First Citizens Bank      $38.3
Bank of Hiawassee       $377.8    Citizens South Bank     $137.7
Appalachian Community $1,010.0    Community & Southern    $419.3
Advanta Bank Corp.    $1,600.0    - None -                $635.6
Century Security         $96.5    Bank of Upson            $29.9
American National        $70.3    National Bank and Trust  $17.1
The Park Avenue Bank    $520.1    Valley National Bank     $50.7
Statewide Bank          $243.2    Home Bank, Lafayette     $38.1
Old Southern Bank       $315.6    Centennial Bank          $94.6
LibertyPointe Bank      $209.7    Valley National          $24.8
Sun American Bank       $535.7    First-Citizens Bank     $103.8
Waterfield Bank         $155.6    {FDIC Created}           $51.0
Centennial Bank         $215.2    Zions Bank               $96.3
Bank of Illinois        $211.7    Heartland Bank           $53.7
Rainier Pacific Bank    $446.2    Umpqua Bank, Roseburg    $95.2
Carson River Community   $51.1    Heritage Bank of Nevada   $7.9
George Washington       $412.8    FirstMerit Bank         $141.4
La Jolla Bank         $3,600.0    OneWest Bank, FSB       $882.3
The La Coste Nat'l       $53.9    Community National        $3.7
Marco Community Bank    $119.6    Omaha Bank               $38.1
1st American State       $18.2    Community Development     $3.1
First National Bank     $832.6    Community & Southern    $260.4
Florida Community       $875.5    Premier American Bank   $352.6
American Marine Bank    $373.2    Columbia State Bank      $58.9
Marshall Bank, N.A.      $59.9    United Valley Bank        $4.1
First Regional Bank   $2,180.0    First-Citizens Bank     $825.5
Comm. Bank & Trust    $1,210.0    SCBT, N.A.              $354.5
Charter Bank          $1,200.0    Charter, Albuquerque    $201.9
Evergreen Bank          $488.5    Umpqua Bank, Roseburg    $64.2
Columbia River Bank   $1,100.0    Columbia State Bank     $172.5
Bank of Leeton           $20.1    Sunflower Bank            $8.1
Premier American Bank   $350.9    Bond Street subsidiary   $85.0
Town Community           $69.6    Bank First American      $17.8
St. Stephen State        $24.7    First State Bank          $7.2
Barnes Banking          $827.8    {DINB Created}          $271.3
Horizon Bank          $1,400.0    Washington Federal      $539.1

In 2009, there were 140 failed banks, compared with just 25 for
2008.

A complete list of banks that failed since 2000 is available at:

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

              775 Banks Now in FDIC's Problem List

The number of institutions on the Federal Deposit Insurance
Corp.'s "Problem List" rose to 775, up from 702 at the end of
2009. In addition, the total assets of "problem" institutions
increased during the quarter from $403 billion to $431 billion.
These levels are the highest since June 30, 1993, when the number
and assets of "problem" institutions totaled 793 and $467 billion,
respectively, but the increase in the number of problem banks was
the smallest in four quarters.

"Problem" institutions are those institutions with financial,
operational, or managerial weaknesses that threaten their
continued financial viability.  They are rated by the FDIC or
Office of the Thrift Supervision as either a "4" or "5", based on
a scale of 1 to 5 in ascending order of supervisory concern.
The Problem List is not divulged to the public.  No advance notice
is given to the public when a financial institution is closed.

The FDIC says that 41 institutions failed during the first
quarter.  Chairman Bair noted that the vast majority of "problem"
institutions do not fail.

According to the FDIC, its Deposit Insurance Fund (DIF) balance
improved for the first time in two years.  The DIF balance -- the
net worth of the fund -- increased slightly to negative $20.7
billion, from negative $20.9 billion (unaudited) on December 31,
2009.  The fund balance reflects a $40.7 billion contingent loss
reserve that has been set aside to cover estimated losses.  Just
as banks reserve for loan losses, the FDIC has to set aside
reserves for anticipated closings.  Combining the fund balance
with this contingent loss reserve shows total DIF reserves of
$20 billion.  Total insured deposits increased by 1.3%
($70.0 billion) during the first quarter.

The FDIC's liquid resources -- cash and marketable securities --
remained strong.  Liquid resources stood at $63 billion at the end
of the first quarter, a decline from $66 billion at year-end 2009.
To provide the funds needed to resolve failed institutions in 2010
and beyond without immediately reducing the industry's earnings
and capital, the FDIC Board approved a measure on November 12,
2009, that required most insured institutions to prepay
approximately three years' worth of deposit insurance premiums --
about $46 billion -- at the end of 2009.

              Problem Institutions      Failed Institutions
              --------------------      -------------------
Year           Number  Assets (Mil)      Number  Assets (Mil)
----           ------  ------------      ------  ------------
2009              702      $402,800         140       $169,700
2008              252      $159,405          25       $371,945
2007               76       $22,189           3         $2,615
2006               50        $8,265           0             $0
2005               52        $6,607           0             $0
2004               80       $28,250           4           $170

A copy of the FDIC's Quarterly Banking Profile for the quarter
ended March 31, 2010, is available for free at:

     http://bankrupt.com/misc/FDIC_QBP_Q1_10.pdf


* Tracy Hope Davis Is Acting U.S. Trustee for Region 2
------------------------------------------------------
Tracy Hope Davis has been appointed by Attorney General Eric
Holder as Acting U.S. Trustee for New York, Connecticut and
Vermont (Region 2) effective July 1, 2010, the Executive Office
for U.S. Trustees announced.  Ms. Davis replaces Diana G. Adams,
who is retiring after 17 years of service with the U.S. Trustee
Program (USTP), the past three as the U.S. Trustee for Region 2.

Ms. Davis, an Assistant U.S. Trustee in New York City, joined the
USTP in 1997 as a trial attorney.  She has also served as the
Acting Assistant U.S. Trustee in Brooklyn.  Before joining the
USTP, she practiced law in New York City, specializing in
bankruptcy.  After law school, she served as law clerk to the
Honorable Cornelius Blackshear, U.S. Bankruptcy Court, Southern
District of New York (retired).  Ms. Davis received her law degree
from Rutgers Law School in Newark, N.J., and her Bachelor of Arts
degree from Wells College in Aurora, N.Y.

The U.S. Trustee Program is the component of the Justice
Department that protects the integrity of the bankruptcy system by
overseeing case administration and litigating to enforce the
bankruptcy laws.  The USTP has 21 regions and 95 field offices.
Region 2 is headquartered in New York City with additional offices
in Albany, Brooklyn, Buffalo, Central Islip, Rochester and Utica,
N.Y., and New Haven, Conn.


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                                                        Total
                                             Total     Share-
                                  Total    Working   Holders'
                                 Assets    Capital     Equity
  Company         Ticker          ($MM)      ($MM)      ($MM)
  -------         ------         ------   --------   --------
AUTOZONE INC      AZO US        5,452.8     (293.1)    (462.0)
LORILLARD INC     LO US         2,902.0      718.0      (37.0)
DUN & BRADSTREET  DNB US        1,699.5     (454.1)    (778.3)
ALLIANCE DATA     ADS US        7,919.8    3,352.2      (53.6)
MEAD JOHNSON      MJN US        1,996.7      319.9     (583.7)
NAVISTAR INTL     NAV US        8,940.0    1,251.0   (1,198.0)
BOARDWALK REAL E  BEI-U CN      2,332.1        -        (57.6)
BOARDWALK REAL E  BOWFF US      2,332.1        -        (57.6)
TAUBMAN CENTERS   TCO US        2,572.3        -       (494.8)
CHOICE HOTELS     CHH US          360.6       (6.3)    (115.0)
COOPER-STANDARD   COSHE US      1,686.4      433.1     (304.3)
LINEAR TECH CORP  LLTC US       1,615.8      742.7      (50.7)
WEIGHT WATCHERS   WTW US        1,093.0     (408.5)    (700.1)
SUN COMMUNITIES   SUI US        1,173.3        -       (118.3)
CABLEVISION SYS   CVC US        7,364.2       54.8   (6,201.5)
IPCS INC          IPCS US         559.2       72.1      (33.0)
PETROALGAE INC    PALG US           4.7      (13.9)     (48.0)
WR GRACE & CO     GRA US        3,957.9    1,177.5     (234.4)
MOODY'S CORP      MCO US        2,003.3     (138.9)    (534.0)
TENNECO INC       TEN US        3,034.0      203.0      (14.0)
UAL CORP          UAUA US      19,952.0   (1,019.0)  (2,887.0)
UNISYS CORP       UIS US        2,711.8      320.6   (1,221.7)
DISH NETWORK-A    DISH US       8,689.0      305.1   (1,850.3)
CHENIERE ENERGY   CQP US        1,883.2       37.6     (491.7)
VECTOR GROUP LTD  VGR US          743.1      231.5      (13.4)
HEALTHSOUTH CORP  HLS US        1,716.1       90.6     (474.5)
VENOCO INC        VQ US           799.5       10.6     (127.6)
NATIONAL CINEMED  NCMI US         620.4      106.9     (462.7)
EXPRESS INC       EXPR US         718.1       38.4      (81.8)
PROTECTION ONE    PONE US         562.9       (7.6)     (61.8)
DISH NETWORK-A    EOT GR        8,689.0      305.1   (1,850.3)
METALS USA HOLDI  MUSA US         655.4      294.1      (43.0)
ARVINMERITOR INC  ARM US        2,769.0      345.0     (877.0)
REGAL ENTERTAI-A  RGC US        2,588.9     (168.9)    (260.7)
THERAVANCE        THRX US         249.9      196.6     (113.0)
JUST ENERGY INCO  JE-U CN       1,353.1     (513.7)    (503.2)
REVLON INC-A      REV US          765.8       63.9   (1,027.2)
DOMINO'S PIZZA    DPZ US          427.6       92.8   (1,290.0)
INCYTE CORP       INCY US         502.7      332.9     (114.4)
CARDTRONICS INC   CATM US         449.3      (36.6)      (2.3)
WORLD COLOR PRES  WC CN         2,641.5      479.2   (1,735.9)
TEAM HEALTH HOLD  TMH US          797.4       52.1      (58.6)
FORD MOTOR CO     F US        195,485.0   (7,269.0)  (5,437.0)
WORLD COLOR PRES  WCPSF US      2,641.5      479.2   (1,735.9)
KNOLOGY INC       KNOL US         641.7       30.9      (28.3)
WORLD COLOR PRES  WC/U CN       2,641.5      479.2   (1,735.9)
MERU NETWORKS IN  MERU US          88.8        0.5       (4.1)
GRAHAM PACKAGING  GRM US        2,126.4      187.6     (629.0)
LIBBEY INC        LBY US          776.9      128.0      (18.3)
UNITED RENTALS    URI US        3,584.0       30.0      (48.0)
COMMERCIAL VEHIC  CVGI US         276.8      105.5      (10.7)
INTERMUNE INC     ITMN US         190.9      102.8      (21.3)
FORD MOTOR CO     F BB        195,485.0   (7,269.0)  (5,437.0)
US AIRWAYS GROUP  LCC US        7,808.0     (445.0)    (447.0)
RURAL/METRO CORP  RURL US         286.2       38.7     (100.9)
AFC ENTERPRISES   AFCE US         114.6       (2.0)     (11.5)
BROADSOFT INC     BSFT US          68.3        1.7       (6.4)
JAZZ PHARMACEUTI  JAZZ US         106.7      (31.2)     (69.0)
CENTENNIAL COMM   CYCL US       1,480.9      (52.1)    (925.9)
SALLY BEAUTY HOL  SBH US        1,531.5      366.1     (553.1)
BLUEKNIGHT ENERG  BKEP US         303.6      (15.3)    (147.2)
AMER AXLE & MFG   AXL US        1,967.6       (0.3)    (545.4)
EPICEPT CORP      EPCT SS           6.3        0.2      (12.7)
CC MEDIA-A        CCMO US      17,400.0    1,279.2   (7,054.8)
WABASH NATIONAL   WNC US          249.0     (154.6)     (62.4)
AMR CORP          AMR US       25,525.0   (1,407.0)  (3,892.0)
ALIMERA SCIENCES  ALIM US          16.3        3.5      (42.7)
SANDRIDGE ENERGY  SD US         2,971.7      (33.9)    (171.3)
HALOZYME THERAPE  HALO US          65.2       48.9       (3.2)
RSC HOLDINGS INC  RRR US        2,669.6      (66.1)      (9.8)
MANNKIND CORP     MNKD US         243.3        8.5     (100.9)
PDL BIOPHARMA IN  PDLI US         358.3      (83.5)    (501.1)
NPS PHARM INC     NPSP US         140.4       95.2     (227.6)
PALM INC          PALM US       1,007.2      141.7       (6.2)
PLAYBOY ENTERP-A  PLA/A US        196.6       (9.6)     (23.0)
QWEST COMMUNICAT  Q US         19,362.0     (585.0)  (1,120.0)
SINCLAIR BROAD-A  SBGI US       1,576.6       48.1     (187.8)
PLAYBOY ENTERP-B  PLA US          196.6       (9.6)     (23.0)
CENVEO INC        CVO US        1,563.5      212.7     (180.6)
IDENIX PHARM      IDIX US          61.0       16.8      (20.7)
VIRGIN MOBILE-A   VM US           307.4     (138.3)    (244.2)
GENCORP INC       GY US           963.4      140.3     (241.2)
ACCO BRANDS CORP  ABD US        1,062.7      240.1     (118.0)
LIN TV CORP-CL A  TVL US          780.6       22.9     (164.2)
CONSUMERS' WATER  CWI-U CN        895.2       (5.3)    (254.9)
GLG PARTNERS-UTS  GLG/U US        403.5      155.5     (285.9)
EASTMAN KODAK     EK US         7,178.0    1,588.0      (53.0)
GLG PARTNERS INC  GLG US          403.5      155.5     (285.9)
WARNER MUSIC GRO  WMG US        3,752.0     (557.0)    (116.0)
HOVNANIAN ENT-A   HOV US        2,029.1    1,358.9     (137.0)
GREAT ATLA & PAC  GAP US        2,827.2      201.3     (396.4)
HOVNANIAN ENT-B   HOVVB US      2,029.1    1,358.9     (137.0)
MAGMA DESIGN AUT  LAVA US         122.1       14.4       (4.3)
EXELIXIS INC      EXEL US         284.2      (32.7)    (199.3)



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Howard
C. Tolentino, Joseph Medel C. Martirez, Denise Marie Varquez,
Philline Reluya, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2010.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


                  *** End of Transmission ***