TCR_Public/100722.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

             Thursday, July 22, 2010, Vol. 14, No. 201

                            Headlines


35 INNISBROOK: Case Summary & 7 Largest Unsecured Creditors
39-45 N. JAY: Case Summary & 5 Largest Unsecured Creditors
AAER INC: CCAA Stay Order Extended Until August 11
ABITIBIBOWATER INC: Aurelius Wants $620M Claim Okayed for Offering
ABITIBIBOWATER INC: Disclosure Statement Hearing Reset to July 30

ABITIBIBOWATER INC: Lufkin Mill Auction Set for August 2
ABITIBIBOWATER INC: Not Hopelessly Insolvent, Equity Holders Say
ABITIBIBOWATER INC: Wins OK for APS as Special Advisor
ACCURIDE CORPORATION: Moody's Assigns 'B2' Corporate Family Rating
ADVERTISING ADVANTAGE: Case Summary & 16 Largest Unsec Creditors

AIR CANADA: Moody's Assigns 'B3' Corporate Family Rating
AIR CANADA: S&P Puts 'CCC+' Rating on CreditWatch Positive
ALBION PROPERTY: Case Summary & 3 Largest Unsecured Creditors
AMERICAN INT'L: Said to Name Prudential's Tucker as AIA Head
AMERICAN INT'L: Taps Goldman and Morgan Stanley to Lead AIA IPO

AMR CORP: DOT Approves oneworld Antitrust Immunity Application
AMTRUST BANK: RBS Group Wins Bidding for Loan Assets
ASPEN MAIN: Can Pay Insurance Premiums from Postpetition Financing
ATLANTIC MARINE: S&P Withdraws 'B+' Corporate Credit Rating
AUGUSTA APARTMENTS: Wants More Exclusivity to Resolve Claim

BLOCKBUSTER INC: Won't Hold Emergency Shareholders' Meeting
BLOUNT INC: Moody's Assigns 'Ba3' Rating on Senior Facility
BOSQUE POWER: Launches Ch. 11 Plan with $43M Equity Infusion
BROWN PUBLISHING: Shareholder Protests Proposed Asset Sale
BRUNDAGE-BONE: Wants Access to Wells Fargo's Cash Until August 16

CALPINE CORPORATION: Moody's Assigns 'B1' for New Secured Notes
CAPMARK FIN'L: Dewey & LeBoeuf Charging $1.93 Million for May
CAPMARK FIN'L: Has Stipulation with Committee on Loan Probe
CAPMARK FIN'L: Private Sale of Capmark Securities Shares Approved
CATHOLIC CHURCH: Catholic Mutual Answers Fairbanks Complaint

CELERITAS TECHNOLOGIES: Voluntary Chapter 11 Case Summary
CELERITASWORKS LLC: Case Summary & 20 Largest Unsecured Creditors
CENTRAL FALLS, R.I.: New Receiver Kicks Out Mayor
CHELMSFORD LLC: Voluntary Chapter 11 Case Summary
CHRYSLER LLC: TARP Inspector Finds Fault in Rapid Dealer Cuts

CITIGROUP INC: Names Co-Heads to Global Industrials Group
COMMERCIAL VEHICLE: Board Okays Salary Adjustment for K. Frailey
CONJUCHEM BIOTECHNOLOGIES: Files for Bankruptcy Under CCAA
DAREMY ENTERPRISES: Voluntary Chapter 11 Case Summary
DAVID LUECKE: Case Summary & 13 Largest Unsecured Creditors

DAVID MCLAUGHLIN: Case Summary & 8 Largest Unsecured Creditors
DELPHI CORP: Talking to Banks for Possible IPO
DENMAN TIRE: Titan Tire Completes Machinery and Equipment Purchase
DENNY'S CORP: Directors Report Disposition of Securities
DFL CARIBBEAN: Fitch Affirms Issuer Default Rating at 'BB'

DOVER MOTORSPORTS: Posts $4.6 Million Net Loss in First Quarter
EDUCATE INC: Moody's Affirms Corporate Family Rating at 'B3'
ELAN CORP: $203.5 Mil. Settlement Won't Affect S&P's 'B' Rating
EMERSON OVERLOOK: Court Fixes August 31 as Claims Bar Date
EPV SOLAR: Wins Nod to Sell Manufacturing Assets to Akart Enerji

EPV SOLAR: Has Until August 23 to File Reorganization Plan
EQUIPMENT ACQUISITION: Wins Approval of Liquidation Plan
EXTENDED STAY: Courts Confirms Chapter 11 Exit Plan
FIDELITY PROPERTIES: Wants Professionals OK'd Before Filing Plan
FOOD SHARE: Financial Problem Prompts Chapter 11 Filing

GARLOCK SEALING: Gets OK for Del Sole as Litigation Counsel
GARLOCK SEALING: Robinson Bradshaw as Special Counsel Approved
GARLOCK SEALING: Has Nod for Rayburn Cooper as Bankruptcy Counsel
GARLOCK SEALING: Wins OK to Hire Covington as Insurance Counsel
GARY WOODS: Case Summary & 3 Largest Unsecured Creditors

GENERAL MOTORS: TARP Inspector Finds Fault in Rapid Dealer Cuts
GEOLOGICAL TECHNOLOGIES: Case Summary & 20 Largest Unsec Creditors
GREGORY S MORRIS: U.S. Trustee Unable to Form Creditors Committee
HEAVY CONSTRUCTION: Voluntary Chapter 11 Case Summary
INFOLOGIX INC: Nasdaq Grants Extension to Regain Compliance

INNKEEPERS USA: Asks for September 1 Extension for Schedules
INNKEEPERS USA: Cash Shortage, Debt Burden Prompted Filing
INNKEEPERS USA: Proposes to Assume Plan Support Agreement
JAMESTOWN STAMP: Case Summary & 18 Largest Unsecured Creditors
JAPAN AIRLINES: Air Cargo Antitrust Litigation Settled

JOHN KILPATRICK: Case Summary & 14 Largest Unsecured Creditors
LAKEVIEW AT CAROLINA: Asks for Court OK to Use Cash Collateral
LESLIE CONTROLS: DIP Financing, Cash Collateral Use Get Interim OK
LESLIE CONTROLS: Proposes Plan to Channel Asbestos Claims to Trust
LESLIE CONTROLS: Gets Court OK to Hire Epiq as Claims Agent

LESLIE CONTROLS: Section 341(a) Meeting Scheduled for Aug. 19
LEVI STRAUSS: Widens Net Loss to $14-Mil. in May 30 Quarter
LORENZ RICHLING: Case Summary & 18 Largest Unsecured Creditors
LUIS VAZQUEZ: Case Summary & 9 Largest Unsecured Creditors
LYONDELL CHEMICAL: Settles $12-Mil. Fight over Utility Fees

MASCO CORPORATION: Moody's Affirms 'Ba2' Corporate Family Rating
MEDICAL STAFFING: Taps Jefferies as Investment Banker
MESA AIR: Ends Fight with United over Regional Air Contract
MGM RESORTS: To Release Q2 Financial Results on August 3
MICHAEL BUMGARNER: Case Summary & 20 Largest Unsecured Creditors

MIDWEST PROPERTIES: Case Summary & 9 Largest Unsecured Creditors
MINSTER INSURANCE: Seeks Chapter 15 Protection from Creditors
MOTOROLA INC: Nokia $1.2 Bil. Deal Won't Affect S&P's 'BB+' Rating
MSJ INVESTMENT: Plan Confirmation Hearing Set for September 21
NETWORK COMMS: Working with Restructuring Advisors for Options

NEWPAGE CORP: Offers to Exchange $70,000,000 in 11.375% Notes
NYC OFF-TRACK: Rayburn Wants Restructuring Plan Within 30 Days
ORIENTAL FINANCIAL: S&P Revises Outlook on 'BB+' Rating to Stable
PACIFICA MESA STUDIOS: Seeks Bankruptcy Protection
PENN TRAFFIC: PBGC Objects to Disclosure Statement

PERFORMANCE TRANSPORTATION: Sues Truck Makers Over Monopoly Claims
PHILADELPHIA NEWSPAPERS: Seeks to Probe Pension Funds
PHILLIP KEITH: Voluntary Chapter 11 Case Summary
PREMIER HOTEL: Case Summary & 20 Largest Unsecured Creditors
PSEG ENERGY: Moody's Withdraws 'Ba3' Corporate Family Rating

QWEST COMMS: To Purchase 3.5% Convertible Senior Notes
R & S HEATING: Case Summary & 20 Largest Unsecured Creditors
RADIENT PHARMACEUTICALS: Enters Letter of Intent to Buy Provista
RADIO ONE: S&P Changes Outlook on 'CCC+' Rating to Developing
RASER TECHNOLOGIES: Lenders Waive Payments on Power Plant Loan

REID ELAM: Case Summary & 20 Largest Unsecured Creditors
RIVER BOTTOM: Case Summary & 16 Largest Unsecured Creditors
RIVIERA HOLDINGS: Files Reorganization Plan & Disclosure Statement
RIVIERA HOLDINGS: Gets Court's Interim Nod to Use Cash Collateral
RIVIERA HOLDINGS: Gets Nod to Hire Garden City as Claims Agent

SALT LAKE: Voluntary Chapter 11 Case Summary
SATER INC: Case Summary & 20 Largest Unsecured Creditors
SEQUENOM INC: Mishandling of Test Delays Test for Trisomy 21
SERMO GROUP: Voluntary Chapter 11 Case Summary
SHERIDAN GROUP: Moody's Retains Stable Outlook on 'B2' Rating

SHERWOOD FARMS: Has Until Tomorrow to Propose Reorganization Plan
SMURFIT-STONE: Proposes Reserve Amount for Carroll Claim
SMURFIT-STONE: Reaches Settlement With California
SMURFIT-STONE: SSCC Merges With SSCEI, Issues New Shares
STONEWALL STALLIONS: Files for Bankruptcy Under Chapter 11

STRATOS GLOBAL: S&P Withdraws Long-Term Issuer & Debt Ratings
SUDS USA: Case Summary & 9 Largest Unsecured Creditors
TAGISH LAKE: New Pacific Formally Commences Offer to Acquire Firm
TEXAS RANGERS: Four Groups May Compete with Ryan at Auction
TEXAS RANGERS: JPMorgan Sues to Keep Stadium Lease

TOG PROPERTIES: Case Summary & 4 Largest Unsecured Creditors
TRANS ENERGY: Secures Forbearance from CIT Capital Until Oct. 29
TROPICANA ENT: Adamar of NJ Wins Nod to Expand JH Cohn Work
TROPICANA ENT: OpCo Debtors Propose Unresolved Claims Reserve
UAL CORP: Profit Beats Analysts' Estimates on Higher Fares

UTSTARCOM INC: Inks Common Stock Agreement with Beijing E-Town
VALUE CITY: Recovered Over $250,000 in Preferential Payments
VENTRUS BIOSCIENCES: To Ask Bondholders to Extend Note Maturity
VERENIUM CORP: Marxe and Greenhouse Sell 80,571 Shares
VIDEO DISPLAY: Receives RBC Bank Covenant Waiver Until Aug. 31

VINEYARD NATIONAL: Confirmation Hearing Continues on August 6
VISTEON CORP: Has Access to Cash Collateral Until August 19
VISTEON CORP: Plan Exclusivity Extended Until October 15
VISTEON CORP: Suppliers May Buy Equity in Reorganized Entity
VISTEON CORP: Unsecureds Panel Seek to Probe Trade Creditors

VITRO SAB: Noteholders Reject Restructuring Proposal
V.N.H. INC: Case Summary & 11 Largest Unsecured Creditors
WASHINGTON MUTUAL: Shareholders Win Probe of JPMorgan Deal
W.R. GRACE: Fee Auditor Submits Report for ZAI Counsel Fees
W.R. GRACE: Plum Creek Seeks to File Late Claims

W.R. GRACE: Settles Wasau Insurance Coverage Issues
WYNNE VIEW: Case Summary & 10 Largest Unsecured Creditors

* Insurer Losses Trigger Most Regulator Intervention in a Decade
* S&P/Experian Index Confirms Declining Trend of Default Rates
* Troubled North Carolina Banks Jump 74% to 40 from 2009

* Chapter 11 Cases with Assets & Liabilities Below $1,000,000


                            ********


35 INNISBROOK: Case Summary & 7 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: 35 Innisbrook, LLC
        35 Innisbrook Avenue
        Las Vegas, NV 89113

Bankruptcy Case No.: 10-22950

Chapter 11 Petition Date: July 13, 2010

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

Judge: Linda B. Riegle

Debtor's Counsel: Edward S. Coleman, Esq.
                  Coleman Law Associates
                  6615 South Eastern Avenue, Suite 108
                  Las Vegas, NV 89119
                  Tel: (702) 699-9000
                  Fax: (702) 699-9006
                  E-mail: ldeflyer@coleman4law.com

Scheduled Assets: $1,000,012

Scheduled Debts: $1,950,000

A list of the Company's 7 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nvb10-22950.pdf

The petition was signed by Roderick Nielsen, manager.


39-45 N. JAY: Case Summary & 5 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: 39-45 N. Jay Street Corporation
        39-45 N. Jay Street
        Schenectady, NY 12308

Bankruptcy Case No.: 10-12663

Chapter 11 Petition Date: July 16, 2010

Court: United States Bankruptcy Court
       Northern District of New York (Albany)

Judge: Robert E. Littlefield Jr.

Debtor's Counsel: Richard H. Weiskopf, Esq.
                  O'Connell & Aronowitz
                  54 State Street, 9th Floor
                  Albany, NY 12207
                  Tel: (518) 462-5601
                  Fax: (518) 462-2670
                  E-mail: rweiskopf@oalaw.com

Scheduled Assets: $1,083,300

Scheduled Debts: $1,061,782

A list of the Company's 5 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nynb10-12663.pdf

The petition was signed by JoAnn Cornell Aragosa, president.


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

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

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

The documentation and information on AAER's restructuring
process are available on the monitor dedicated website
at http://www.deloitte.com/ca/aaer/

                         About AAER Inc.

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


ABITIBIBOWATER INC: Aurelius Wants $620M Claim Okayed for Offering
------------------------------------------------------------------
Aurelius Capital Management, LP, and Contrarian Capital
Management, LLC, ask the Court to temporarily allow, for the
purpose of participating in the rights offering that will allow
the Debtors to raise up to $500 million through the issuance of
notes, and voting to accept or reject the Debtors' First Amended
Joint Plan of Reorganization:

  * their contribution claim for $620,100,000 plus postpetition
    interest against Bowater Incorporated; and

  * the Bowater Canada Holdings Inc. interest in a face amount
    of not less than $600,000,000 or as otherwise determined by
    the Court as a preferred interest or claim  against BCHI.

Aurelius and Contrarian further ask Judge Carey to:

   (i) classify the Contribution Claim as a general unsecured
       claim against Bowater and the BCHI Interests as a
       preferred interest or general unsecured claim against
       BCHI;

  (ii) deem the Contribution Claim and the BCHI Interests voted
       in the same manner as the class of Direct Claims under the
       Plan; and

(iii) authorize the holders of the Bowater Canada Finance
       Corporation Notes to exercise their pro rata portion of
       the rights which would be distributable to BCFC in the
       Rights Offering and receive the consideration provided to
       parties exercising Rights.

As previously reported, Judge Carey approved the Backstop
Commitment Agreement that the Debtors secured with investors
Fairfax Financial Holdings Limited, Avenue Capital Management and
certain prepetition noteholders to backstop the Rights Offering.
Under the Rights Offering, AbitibiBowater would offer new
convertible notes with a seven-year maturity from the date of
closing to eligible unsecured creditors.  Upon the effective date
of the Debtors' Chapter 11 Plan, the notes would be obtained upon
exercise of the rights and convertible into common stock of the
emerged company.

           BCFC Contribution Claim & BCHI Interests

BCFC was formed as an unlimited company organized under the laws
of Nova Scotia for the purpose of engaging in tax-advantaged
financing of the Canadian operations of Bowater.  In 2001, BCFC
issued $600 million of unsecured notes due November 2011 which
are guaranteed by Bowater and are BCFC's only material
liabilities.   Aurelius and Contrarian, through their managed
fund entities, hold in excess of one-third of the BCFC Notes.  As
of the Petition Date, the amount owing under the BCFC Notes was
$620,100,000.

BCFC's Contribution Claim against Bowater is in an amount
sufficient to satisfy all of BCFC's debts and obligations to its
creditors.  However, the Disclosure Statement contains little
description and no discussion of the Contribution Claim, Dennis
A. Meloro, Esq., at Greenberg Traurig, LLP, in Wilmington,
Delaware, contends on behalf of Aurelius and Contrarian.

"The Contribution Claim falls within the definition of Class 8
Intercompany Claim under the Chapter 11 Plan, which treatment is
plainly incorrect," Mr. Meloro says.  "Under the Plan, Class 8
Intercompany Claims receive no distributions and are extinguished
and discharged; [and] allow the Reorganized Debtors to reinstate
such Intercompany Claims but apparently without impacting the
distributions on account of [those] Claims."

As a result of the Intercompany Transactions, BCFC owns the
BCHI Interests, which fit within the definition of Intercompany
Interests in the Chapter 11 Plan and thus would be classified
under Class 8 Interests.  Under the Plan, Intercompany Interests
do not receive any distribution.

Mr. Meloro argues that the Debtors have included provisions in
the Rights Offering that would "eliminate BCFC's right to vote
its Contribution Claim as well as its BCHI Interests, without an
opportunity for [the Bankruptcy] Court to evaluate the merits and
the enforceability of both."

"The Debtors have created an artificial deadline by requiring
that only allowed unsecured claims as of August 18, 2010 may
participate in the Rights Offering," Mr. Meloro laments.
"Insofar as BCFC currently does not have an unconflicted
fiduciary who is able to make the decision to seek immediate
allowance of the Contribution Claim or claims related to the BCHI
Interests, there is no reasoned basis to believe that the
allowability of the Contribution Claim or claims related to the
BCHI Interests will be resolved by the August 18 deadline."

Under the current Rights Offering process, the BCFC estate will
be deprived of its right to participate in the Rights Offering,
much less vote its claim and interests prior to the Voting
Deadline, Mr. Meloro argues.

                     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: Disclosure Statement Hearing Reset to July 30
-----------------------------------------------------------------
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
has been scheduled for July 30, 2010, at 9:00 a.m., Eastern Time.

Judge Kevin J. Carey of the U.S. Bankruptcy Court for the
District of Delaware previously adjourned the Disclosure
Statement Hearing.  Prior to the latest rescheduling, the hearing
was slated for July 7, 2010, and thereafter moved to July 15.
The Court conducted a telephonic scheduling conference in lieu of
the July 15 hearing.

Judge Carey intends to consider, at the July 30 hearing, approval
of AbitibiBowater's proposed solicitation and balloting
procedures in relation to the First Amended Plan and Disclosure
Statement.

Under its First Amended Plan, AbitibiBowater disclosed that it
intends to emerge "with a strengthened financial position." The
Official Committee of Unsecured Creditors supports the current
version of the Plan.  Similarly, unsecured creditors of
AbitibiBowater's affiliates, which under restructuring
proceedings pursuant to the Companies' Creditors Arrangement Act
in Canada, are expected to meet on August 26, 2010, to discuss
support of the CCAA Applicants' Plan of Reorganization and
Compromise.

AbitibiBowater noted that it aims to emerge from creditor
protection "in the fall of 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: Lufkin Mill Auction Set for August 2
--------------------------------------------------------
AbitibiBowater Inc. and its units notified parties-in-interest
that the auction for the sale of their "permanently idled" paper
mill site located at Highway 103, East Lufkin, in Angelina County,
Texas, will take place on August 2, 2010, at 10:00 a.m.,
prevailing Eastern Time, at the offices of Young Conaway Stargatt
& Taylor, LLP, at 1000 West Street, 17th Floor, in Wilmington,
Delaware 19801.

Only parties that have submitted a Qualified Bid by no later than
July 28 at 12:00 p.m., Eastern Time, may participate in the
Auction.

The Court will consider approval of the Sale of the Lufkin
Property to the Successful Bidder free and clear of all liens,
claims, and encumbrances at 1:00 p.m., prevailing Eastern Time,
on August 4.  Objections, if any, are due no later than July 28.

Judge Carey approved on July 6 the proposed bidding procedures to
govern the Auction.

                     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: Not Hopelessly Insolvent, Equity Holders Say
----------------------------------------------------------------
Thirty-four equity shareholders that purportedly hold a total of
13,579,432 shares of AbitibiBowater, Inc. stock ask Judge Carey
to appoint an official committee of equity security holders in
the Debtors' Chapter 11 cases.

The Shareholders are Alan Gilbertson, Amy Firek, Bill Graham,
Brad Haskins, Bryan Oukrop, Charlie Simpson, Dan Thornton, Daniel
& Colette Nelson, Debbie Kraft, Donna and Robert Brooker, Douglas
Stein, Elizabeth Romero, Glen Dombeck, Hermony Lee, James Van
Sickle, Jasmine Shah, Jason Patel, John Ferrante, Joseph Flesch,
Marj Bidwell, Marine Guilbault, Matthew J. Resnick, Michael
Kadysh, Mike Jain, Nora/Margo/Michael Dennis, Ramsey Liao, Rav
Reddy, Robert Douma, Ron Novak, Roy George, Scott Carison, Thomas
O'Donnell, Toby Walker and William Kovach.

The Shareholders filed the Equity Committee Appointment Motion in
light of Judge Carey's ruling dated April 30, 2010, directing any
party who seeks the appointment of an equity committee in the
Debtors' cases to file a formal motion.

Representing the Shareholders, L. Jason Cornell, Esq., at Fox
Rotshchild LLP, in Wilmington, Delaware, notes that the Chapter
11 proceedings have afforded the Debtors an opportunity to reduce
substantial claim exposure, eliminate unprofitable contracts, and
renegotiate a more favorable debt structure.  He adds that while
there is no disputing that the paper industry has declined over
the years, there is compelling evidence -- including the Debtors'
financial forecasts -- to suggest that the Debtors are not
"hopelessly insolvent."

Despite the improving economics, however, the Shareholders lament
that equity holders are not meaningfully represented in the
bankruptcy process.  The Chapter 11 Joint Plan of Reorganization,
as amended, provides that equity will be "wiped out, considered
impaired, and prevented from voting on Plan confirmation," the
Shareholders cite.  Moreover, the Debtors' planning processes are
being undertaken without any representation of the Shareholders
who own approximately 27% of the Debtors' stock, Mr. Cornell
emphasizes.

Mr. Cornell points out that (i) the Official Committee of
Unsecured Creditors, the Debtors and the lenders all have a
prevailing interest in confirming the Plan; (ii) the directors
are not financially motivated to represent the shareholders
because they will see significant reward for the confirmation of
the plan of reorganization regardless of the outcome for current
equity holders; and (iii) creditors are motivated to dilute
equity as much as possible.

Against this backdrop, the principles of fundamental fairness
dictate that equity holders be afforded adequate representation
to protect and advance their interests at this critical stage of
the Chapter 11 process, Mr. Cornell asserts.  "In particular, the
equity holders should have the opportunity to meaningfully
participate in developing a comprehensive strategic plan,
financial forecast and business plan.  Without an Official Equity
Committee, the Shareholders will go unrepresented and lack a
voice during the Debtors' negotiations under the Plan."

The Shareholders tell Judge Carey that they are mindful of
concerns regarding the additional expense associated with the
formation of an official equity committee.  The additional costs
of an equity committee must be weighed against the need for
adequate representation of public shareholders, Mr. Cornell
maintains, pointing the Court to McLean Indus., 70 B.R. at 860;
see also, Enron Corp., 279 B.R. at 694 and Wang Labs., 149 B.R.
at 3-4; Beker Indus., 55 B.R. at 949-51.

Robert Douma also submitted a letter to the Court, asking Judge
Carey to order the appointment of an equity committee in the
Debtors' cases.  "As a member of the informal equity committee
alliance for AbitibiBowater, I believe it is fair to say that we
are not adequately represented at these bankruptcy proceedings,"
Mr. Douma says.

                     About AbitibiBowater

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

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

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

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

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


ABITIBIBOWATER INC: Wins OK for APS as Special Advisor
------------------------------------------------------
AbitibiBowater Inc. and its units sought and obtained approval for
Bowater Canada Finance Corporation (i) to employ AP Services, LLC,
as special advisor; and (ii) designate Lisa Donohue as vice
president for Restructuring at Bowater Canada Finance Corporation,
with respect to "intercompany conflicts" that are anticipated to
arise.

BCFC is a wholly owned subsidiary of Bowater Incorporated
organized as an unlimited liability company under Nova Scotia
law.  BCFC issued notes in the principal amount of $600 million
pursuant to the indenture for the 7.95% notes due 2011 dated as
of October 31, 2001, among BCFC as issuer, Bowater as guarantor,
and the Bank of New York, as trustee.  The BCFC Notes remain
outstanding.

BCFC is a financing vehicle with no material operations.  In the
event of a winding up of BCFC, it may have a wind up claim
against Bowater for any amounts outstanding, as well as other
potential claims, in connection with the use of proceeds from the
issuance of the BCFC Notes.

Resolving the Wind-Up Claim and BCFC Claims presents a potential
conflict of interest between BCFC and Bowater.  Accordingly,
retention of a wholly independent officer to investigate the Wind
Up Claim and the BCFC Claims and make recommendations to BCFC's
board regarding the appropriate prosecution or settlement is
warranted, to "avoid undue expense and delay with their
reorganization and emergence efforts, and any appearance of
impropriety," according to Sean T. Greecher, Esq., at Young
Conaway Stargatt & Taylor, LLP, in Wilmington, Delaware.

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

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

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

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

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

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

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

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

                     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).


ACCURIDE CORPORATION: Moody's Assigns 'B2' Corporate Family Rating
------------------------------------------------------------------
Moody's Investors Service assigned Corporate Family and
Probability of Default ratings of B2 to Accuride Corporation.  In
a related action, Moody's also assigned a B2 rating to the
proposed $300 million senior secured notes and assigned an SGL-2
Speculative Grade Liquidity rating.  The rating outlook is stable.

The B2 Corporate Family Rating reflects Accuride's deleveraged
capital structure and the impact of restructuring actions achieved
during and prior to the company's tenor in bankruptcy protection
which was completed in February 2010.  Through the reorganization
process, the company reduced debt by approximately $229 million.
Management indicates that restructuring actions, including
reductions in headcount, facilities, inventory, and freight costs
have resulted in the achievement of $60 million in annual cost
savings.  The company's lower debt costs and improved cost
structure serve to support improved credit metrics consistent with
the assigned rating over the near-term, as production in the
commercial vehicle industry improves in the latter half of 2010
and into 2011.  Through the reorganization process, Accuride
continued to deliver product to its major and long-standing
customers which has preserved the company's competitive position
within the industry.

The $300 million senior secured note, along with $10 million of
borrowing under an unrated asset based revolving credit facility,
and cash on hand will be used to refinance the company's existing
senior secured term loan and pay related transaction fees and
expenses.  The notes will be secured by a first priority lien on
substantially all of the company's and the guarantors' owned real
property and tangible and intangible assets (other than accounts
receivable and inventories) including the capital stock of these
subsidiaries (limited to 65% of first-tier foreign subsidiaries),
and on a second priority lien on the company's and the guarantors'
accounts receivable and inventories (behind the $75 million
revolving asset based revolving credit facility).  The rating of
the notes under Moody's Loss Given Default Methodology consider
the potential limitation of collateral coverage given its second
priority lien position behind the asset based revolver in the
event of a default.  As a result, a deficiency was applied to the
notes under the methodology resulting in the rating being equal to
the Corporate Family Rating.

The stable rating outlook incorporates Accuride's reduced debt
levels and cash debt service requirements, and Moody's expectation
of stable industry vehicle production over the near-term.  The
outlook also incorporates the expectation of continuing
restructuring actions over the near-term as the company adjusts
operations to the current industry environment.  While
EBIT/interest coverage (including Moody's standard adjustments) is
expected to approximate 0.5x in 2010 on a pro forma basis, this
metric is expected to significantly improve in 2011.

Accuride is anticipated to have a good liquidity profile over the
near-term.  Pro forma for the company's recapitalization, cash
balances are expected to approximate $43.1 million.  With both
balance sheet and operational restructuring actions largely
accomplished and a stable commercial vehicle industry environment,
Accuride is expected to be in a position to generate positive free
cash flow over the near-term.  Debt amortization requirements will
be eliminated with the refinancing of the term loan.  In addition,
liquidity will be supported by a new $75 million asset based
revolving credit facility maturing in 2014.  Approximately
$10 million will initially be funded under the facility.  The
company had approximately $16 million of cash collateralized
letters of credit, as of March 31, 2010.  Post closing the
transaction, the company expects to issue letters of credit under
the new asset based revolving credit facility; in turn the
$16 million of cash will be released to the company.  The senior
secured note will not have financial covenants.  The revolving
credit facility will have a springing minimum fixed charge
coverage ratio test of 1.1x if excess availability falls below the
greater of 15% of the commitment or $10 million.

These ratings are assigned:

  -- Corporate Family Rating, at B2;
  -- Probability of Default, at B2;
  -- Senior secured notes, at B2 (LGD-3, 46%);
  -- Speculative Grade Liquidity Rating, SGL-2

The asset based revolving credit is not rated by Moody's.

Accuride Corporation, headquartered in Evansville, IN, is a
diversified North American manufacturer and supplier of commercial
vehicle components.  Principal products include commercial vehicle
wheels, wheel-end components and assemblies, truck body and
chassis parts, and seating assemblies.  Revenues in 2009 were
approximately $570 million.


ADVERTISING ADVANTAGE: Case Summary & 16 Largest Unsec Creditors
----------------------------------------------------------------
Debtor: Advertising Advantage, LLC
        24 East Third St., Suite 300
        Jamestown, NY 14701

Bankruptcy Case No.: 10-13133

Chapter 11 Petition Date: July 16, 2010

Court: United States Bankruptcy Court
       Western District of New York (Buffalo)

Judge: Carl L. Bucki

Debtor's Counsel: Robert A. Liebers, Esq.
                  15 E. 15th St.
                  P.O. Box 3090
                  Jamestown, NY 14702-3090
                  Tel: (716) 488-3090
                  E-mail: liebers@burgettandrobbins.com

Scheduled Assets: $1,021,425

Scheduled Debts: $3,223,545

A list of the Company's 16 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nywb10-13133.pdf

The petition was signed by Michael L. McVinney, member.


AIR CANADA: Moody's Assigns 'B3' Corporate Family Rating
--------------------------------------------------------
Moody's Investors Service has assigned ratings to Air Canada,
including a B3 corporate family rating, B3 probability of default
rating, and an SGL-2 speculative-grade liquidity rating.  In a
related action, Moody's assigned a B2 rating to Air Canada's
proposed US$900 million first lien senior secured notes due 2015.
Air Canada plans to use the net proceeds from the notes to prepay
its existing C$700 million secured term loan (due 2014) and
increase its liquidity.  The ratings outlook is stable.

Assignments:

Issuer: Air Canada

  -- Corporate Family Rating, Assigned B3
  -- Probability of Default Rating, Assigned B3
  -- Speculative Grade Liquidity Rating, Assigned SGL-2
  -- US$900 million Senior Secured Notes, Assigned B2 (LGD 3, 37%)
  -- Outlook, Assigned Stable

Air Canada's B3 corporate family rating reflects its significant
scale and leading market share of domestic, transborder and
international routes in and out of Canada.  The rating is also
favorably influenced by Air Canada's good liquidity and relatively
young age of its mainline fleet which should support modest free
cash flow generation over the next few years.  Benefits from its
membership in the Star Alliance network and the carriers' good
prospects for capitalizing on an expected increase in
international flight volumes also support the rating.  These
positive attributes are offset by significant and growing
competition from lower cost carriers which have steadily reduced
Air Canada's market share over the years, the company's high cost
structure arising from its legacy carrier status, and EBITDA
margins that are expected to remain relatively thin for its rating
despite a focus on costs and firming industry fundamentals.  The
near term need to renew labor contracts, high adjusted leverage,
substantial pension funding obligations, and ongoing debt
maturities are all additional factors that constrain the rating.

Air Canada's pro forma cash balance of about C$2 billion and
Moody's expectation of modestly positive free cash flow for the
next year support its SGL-2 speculative grade liquidity rating.
Tempering these considerations is Moody's belief that Air Canada
needs to maintain significant minimum operating cash requirements
(towards C$1 billion in Moody's opinion) and that its near-term
debt maturities may exceed free cash flow generated.  Moreover,
the industry is prone to periods of sudden and significant cash
consumptiveness through external shocks.  Air Canada relies
heavily on its cash resources to fund any such cash outflows as it
lacks a committed revolving credit facility.  A limited amount of
unencumbered assets also impedes the company's ability to raise
new capital.

The proposed notes will be secured by a first priority lien in a
diverse pool of collateral, including accounts receivable, certain
owned real property, certain Pacific routes and related gate
leaseholds and landing slots, landing slots at London Heathrow's
and New York's LaGuardia's airports, certain spare engines and
ground equipment.  The instrument ratings have been assigned
pursuant to Moody's Loss-Given-Default methodology.

The ratings outlook is stable and reflects Moody's expectation
that Air Canada's key credit metrics will steadily improve towards
levels appropriate for its rating.

Headquartered in Saint-Laurent, Quebec, Air Canada is the largest
provider of scheduled passenger services in Canada and beyond its
borders and also provides cargo and tour operator services.
Revenues for the last twelve months ended March 31, 2010, were
approximately $10 billion.


AIR CANADA: S&P Puts 'CCC+' Rating on CreditWatch Positive
----------------------------------------------------------
Standard & Poor's Ratings Services placed its 'CCC+' long-term
corporate credit rating on Montreal-based Air Canada on
CreditWatch with positive implications.

At the same time, Standard & Poor's assigned its 'B+' issue-level
rating and '1' recovery rating to Air Canada's proposed
US$900 million first-lien senior secured notes due 2015.  The '1'
recovery rating indicates S&P's expectation of very high (90%-
100%) recovery in the event of a default.  The issue-level rating
will not be placed on CreditWatch.  (For the complete corporate
credit rating rationale on Air Canada, see the research report to
be published on RatingsDirect on the Global Credit Portal,
immediately following this media release.)

The rating on the proposed notes is subject to its successful
issue, and to S&P's review of the final documentation.  In the
event of any changes to the amount or terms of the notes, the
corporate credit and issue-level ratings could be subject to
further review.

"The CreditWatch placement reflects S&P's view that, on completion
of the proposed notes offering, Air Canada's liquidity will
improve to a level S&P believes is consistent with that of its
rated peers," said Standard & Poor's credit analyst Jamie
Koutsoukis.  "That, in combination with what S&P believes are
improving market conditions for the air carrier through 2010,
should strengthen the corporate credit profile to a level that
would likely lead us to raise the corporate credit rating on the
company to 'B-' and assign a stable outlook," Ms. Koutsoukis
added.

The ratings on Air Canada reflects Standard & Poor's view of the
airline's credit risk profile, which remains constrained by
significant financial leverage and debt servicing burden, high
operating cost structure, weak industry demand, and increasing
competitive pressure in domestic markets.

The positive CreditWatch placement reflects S&P's view that the
pending notes issue, if successful under the preliminary terms and
conditions that S&P has reviewed, will improve Air Canada's
liquidity position.  The increase in liquidity, in combination
with what S&P views as improving market conditions for its
operations, could lead us to raise the corporate credit rating on
the company to 'B-' and assign a stable outlook.  Conversely,
should Air Canada not be able to realize the expected increase in
liquidity S&P expects from the proposed notes offering, S&P would
likely maintain the current rating.  Standard & Poor's expects to
resolve the CreditWatch on completion of the notes offering or if
the issue is delayed or cancelled.


ALBION PROPERTY: Case Summary & 3 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Albion Property Management LLC
        79-17 Albion Avenue
        Elmhurst, NY 11373

Bankruptcy Case No.: 10-46769

Chapter 11 Petition Date: July 18, 2010

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

Judge: Joel B. Rosenthal

Debtor's Counsel: Xianfeng Zou, Esq.
                  136-20 38 Avenue, Suite 10D
                  Flushing, NY 11354
                  Tel: (718) 661-9562
                  Fax: (718) 661-2211
                  E-mail: xfzou@aol.com

Scheduled Assets: $1,150,000

Scheduled Debts: $5,358,251

A list of the Company's 3 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nyeb10-46769.pdf

The petition was signed by Tin Ming Cheng, member.


AMERICAN INT'L: Said to Name Prudential's Tucker as AIA Head
------------------------------------------------------------
American International Group Inc. plans to name former Prudential
Plc Chief Executive Officer Mark Tucker to replace Mark Wilson as
head of the bailed-out insurer's main Asia unit, Bloomberg News
reported, citing two people with direct knowledge of the matter
said.  AIG CEO Robert Benmosche has already told AIG's board that
Mr. Tucker will succeed Mr. Wilson at Hong Kong-based life-
insurance unit AIA Group Ltd., one of the people said.

According to Bloomberg, the shakeup comes as AIG tries to get the
unit ready for an initial public offering.

Mr. Tucker, 52, ran Prudential's Asian business for a decade and
was the London-based insurer's CEO from 2005 until last year.

                          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 INT'L: Taps Goldman and Morgan Stanley to Lead AIA IPO
---------------------------------------------------------------
The Wall Street Journal's Alison Tudor reports that people
familiar with the matter said on Wednesday American International
Group Inc. has chosen Goldman Sachs Group Inc. and Morgan Stanley
to take leading roles as global coordinators in listing its Asian
life-insurance unit this fall, kick-starting a share sale that
could raise up to $23 billion for U.S. taxpayers.  A source said
AIG has also enlisted Deutsche Bank AG to be a global coordinator
for the initial public offering of AIA Group Ltd.

The Journal says a key consideration for the banks will be how to
minimize the risk of tapping investors for capital when the
outlook for equity markets is so uncertain.  The Journal notes
AIG's management is especially keen to avoid hiccups after
Prudential PLC's $35.5 billion bid for AIA collapsed last month,
people familiar with the situation said.

The Journal also reports bankers expect institutional investors to
use Prudential plc's $35.5 billion bid as a yardstick for valuing
the AIG unit.  Sources told the Journal that advisers to the
company have told AIG that it should be able to raise $12 billion
to $15 billion from the AIA IPO and another $5 billion to $8
billion from stake sales to strategic investors.

According to the report, bankers say it is difficult to find a
direct comparison in Asia for AIA to use as a guide for potential
investors as it is present in 15 countries across Asia with roots
in the region dating back 90 years.  One banker suggested that
Australia-based financial-services firm AXA Asia Pacific would be
used as a benchmark for the lower end of valuation, while Chinese
insurers such as Ping An Insurance Co. would be used to mark the
upper end of expectations.

However, one banker, according to the Journal, said Prudential had
made such a huge effort to familiarize investors with AIA that
they already had a grip on the company's financials and a speedy
process would be possible.  The Journal recalls that before the
Prudential bid announced in March, AIG asked nine banks to plan an
IPO. The biggest roles, commanding the most fees, went to Morgan
Stanley and Deutsche Bank, as global coordinators and book
runners.  This time round, Goldman has been added. One person, the
Journal says, suggested that its performance on the sale of
American Life Insurance Co, also known as Alico, was a factor in
the decision.  The deal raised $15.5 billion for AIG.

According to the Journal, AIG now has to choose the other book
runners on the IPO.  Last time round they were Citigroup Inc.,
Bank of America Merrill Lynch, Credit Suisse Group, UBS AG and
Chinese banks CCB International (Holdings) Ltd. and ICBC
International Holdings Ltd., as well as Goldman and Morgan
Stanley, according to data provider Dealogic.

Morgan Stanley is an adviser to the U.S. Federal Reserve while
Goldman, Citigroup and Deutsche Bank are advisers to AIG.

                          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.


AMR CORP: DOT Approves oneworld Antitrust Immunity Application
--------------------------------------------------------------
The U.S. Department of Transportation on July 20 granted antitrust
immunity to American Airlines and four international partners in
"oneworld" to form an integrated global alliance, but also imposed
several conditions that will protect consumers and preserve
competition.  The action makes final the Department's tentative
decision of Feb. 13.

As a result of the Department's action, American and its oneworld
alliance partners British Airways, Iberia Airlines, Finnair and
Royal Jordanian Airlines will be able to more closely coordinate
international services.

The Department found that granting antitrust immunity to the
oneworld alliance will provide travelers and shippers with a
variety of benefits, including lower fares in some markets, new
nonstop routes, improved services and better schedules.  The
Department also said that the alliance will enhance competition
around the world by enabling the oneworld alliance to compete more
vigorously with Star Alliance and SkyTeam, which operate similar
immunized alliances.

While the Department found that the alliance, on balance, was pro-
competitive, it noted that the alliance could harm competition on
select routes between the United States and London's Heathrow
Airport, a major hub for oneworld, where the availability of
landing and takeoff slots is limited. To remedy this potential
problem, the Department required the applicants to make four pairs
of slots at Heathrow available to competitors for new U.S.-London
service, with two pairs to be used for Boston-London service and
the other two for service from any other U.S. cities.

The Department also required changes to the alliance to ensure
capacity growth, and required the carriers to submit traffic data
and to implement the proposed alliance within 18 months.  The
carriers also must resubmit the alliance agreements for review
within five years.

The decision, the show-cause order, and other documents in the
case are available on the Internet at http://www.regulations.gov/
docket DOT-OST-2008-0252.

                       About AMR Corporation

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

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

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

                           *     *     *

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


AMTRUST BANK: RBS Group Wins Bidding for Loan Assets
----------------------------------------------------
Bill Rochelle at Bloomberg News reports that the Federal Deposit
Insurance Corp. selected a consortium of Residential Credit
Solutions Inc., Carval Investors and RBS Financial Products Inc.
as the winning bidder of $898 million of primarily non-performing
residential loan assets out of AmTrust Bank.

AmTrust Bank, Cleveland, Ohio, was closed December 4 by the Office
of Thrift Supervision, which appointed the Federal Deposit
Insurance Corporation as receiver.  To protect the depositors, the
FDIC entered into a purchase and assumption agreement with New
York Community Bank, Westbury, New York, to assume all of the
deposits of AmTrust Bank.


ASPEN MAIN: Can Pay Insurance Premiums from Postpetition Financing
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
authorized Aspen Main Street Partners, L.P. to incur financing to
pay postpetition insurance premiums.

Dallas, Texas-based Aspen Main Street Partners, L.P., filed for
Chapter 11 bankruptcy protection on March 15, 2010 (Bankr. N.D.
Texas Case No. 10-31829).  Joyce W. Lindauer, Esq., who has an
office in Dallas, Texas, assists the Company in its restructuring
effort.  In its petition, the Company estimated assets and
liabilities at $10,000,001 to $50,000,000.


ATLANTIC MARINE: S&P Withdraws 'B+' Corporate Credit Rating
-----------------------------------------------------------
Standard & Poor's Ratings Services withdrew its ratings on Mobile,
Ala.-based ship repair provider Atlantic Marine Holding Co.,
including the 'B+' corporate credit rating, and removed the
ratings from CreditWatch, where S&P had placed them with positive
implications on May 18, 2010.

The withdrawal follows the completion of BAE Systems PLC's recent
acquisition of the company and the repayment of existing rated
debt.


AUGUSTA APARTMENTS: Wants More Exclusivity to Resolve Claim
-----------------------------------------------------------
Augusta Apartments, LLC, et al., ask the U.S. Bankruptcy for the
Northern District of West Virginia to extend their exclusive
periods to file and solicit acceptances for a Chapter 11 Plan by
120 days and 180 days, respectively.

The Debtors filed their request for an extension before the
exclusive plan-filing period was set to expire June 21.

The Debtors need additional time to resolve the secured claim of
their major secured creditor which a third party offered to
purchase.  The Debtors say that due diligence in regard to said
transaction is ongoing, and if it is consummated, it will have an
impact of their Chapter 11 plan.

                  About Augusta Apartments, LLC

Morgantown, West Virginia-based Augusta Apartments, LLC, filed for
Chapter 11 bankruptcy protection on February 19, 2010 (Bankr. N.D.
W.Va. Case No. 10-00303).  Robert O. Lampl, Esq., at Robert O
Lampl Law Office, assists the Company in its restructuring
efforts.  The Company estimated its assets and debts at
$10,000,001 to $50,000,000 as of the Petition Date.


BLOCKBUSTER INC: Won't Hold Emergency Shareholders' Meeting
-----------------------------------------------------------
Erik Gruenwedel, writing for Home Media, reports that Blockbuster
has denied a request by a group of 300 shareholders seeking to
hold an emergency meeting to reconsider two measures that led to
the Company being removed from the New York Stock Exchange.

Mr. Gruenwedel relates that earlier this month, shareholder Niko
Celentano sent Blockbuster CEO Jim Keyes a letter representing
about 170 shareholders (or 11% of common stock) asking to
reconvene a special meeting to revote on measures that combined
Class A and B shares and, more importantly, a reverse stock split
that would have brought the stock above the $1 per share minimum
value required by the NYSE.

Mr. Gruenwedel notes both measures were initially declared passed
at the June 24 annual shareholders meeting but then reversed after
company officials tabulated the actual vote count.

According to the report, Rod McDonald, VP, secretary and general
counsel, with Blockbuster, expressed support for the shareholders
but reiterated his dissatisfaction the measures did not generate
the required backing.  "We were surprised and disappointed that
almost half of your fellow stockholders did not take the time to
familiarize themselves with these important matters and vote at
the meeting," Mr. McDonald wrote.

Mr. Celentano's group has grown to 392 shareholders as of July 20.
According to the group's Web site --
http://www.blockbustershareholder.com/-- the group may be deemed
to hold:

     16,1266038  A shares
     20,754,782  B shares
     36,880,820  Combined
     57,635,602  Voting Shares
          19.88% of All Voting Shares

According to the report, shareholder Robert Boff on July 19 sent a
response on behalf of the group to Mr. McDonald, saying it was
unfair to put failure of the measures' passage only on
shareholders.  "We still believe that not moving the record date
was the most damaging event that caused the failure of our two
proposals," Mr. Boff wrote. "Surely, Blockbuster must take the
responsibility for that. Let's just say we all made mistakes
during this important process."

The report further notes Edward Woo, analyst with Wedbush Morgan
Securities in Los Angeles, said that, regardless of how
shareholders feel, Blockbuster has more pressing issues.
"Blockbuster is focused on getting its debt recapitalized and not
concerned about getting its stock immediately re-listed on the
NYSE," Woo said. "It is a sign that equity concerns are not at the
top of their priority list, but debt is."

Mary Ellen Lloyd at Dow Jones Newswires reports that in an
interview Monday, Mr. Celentano said the group has no current
plans to file a shareholder lawsuit. Instead, they are hoping for
more direct contact with management and directors as Blockbuster
pursues a recapitalization.  "I like the fact that they want to
open a line of communication," Mr. Celentano said.

                     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: Moody's Assigns 'Ba3' Rating on Senior Facility
-----------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to the amended and
extended senior secured credit facility of Blount, Inc.  The
amendments will increase the facility size to $425 million and
extend its maturities to 2015 for the revolver and to 2016 for the
term loans.  Proceeds will be used to retire the company's
existing debt, including its remaining term loan balances and its
$175 million of senior subordinated notes (currently rated B2),
all of which mature in 2012.  At the same time, Moody's affirmed
the company's Ba3 corporate family rating and assigned a B1
probability of default rating.  Blount, Inc. is a wholly-owned
subsidiary of Blount International, Inc. The rating outlook is
stable.

The rating actions consider the company's solid market position in
its Outdoor Products segment; the high proportion of this
segment's sales going towards replacement markets, a factor which
provides some smoothing of the cyclicality inherent in the
business; its heavy and diversified mix of international sales
(approximately 67% of revenues); the strong turnaround in its
performance that began in the third quarter ended September 30,
2009; and reasonably consistent cash flow generation, which has
permitted the company to de-lever considerably over the past six
years.

At the same time, the ratings acknowledge the company's relatively
small size and the limited diversity of its end markets, which
essentially target consumers in one industry, outdoor equipment.
This concentration in a narrow end market that has difficult, but
not unassailable, barriers to entry magnify the risks inherent in
economic cycles as they impact manufacturers oriented towards the
construction and forest products sectors.  In addition, Blount
continues to have exposure to volatile steel and energy prices.

The stable outlook reflects the elimination of the potential
liquidity events, all in 2012, that loomed over the company.  With
the refinancing of the $175 million of senior subordinated notes
due in 2012 and the extension of the term loans to 2016, the
company has acquired substantial breathing room and, in addition,
will be able to make sizable optional reductions in the principal.

The Ba3 corporate family rating could be negatively impacted in
the event that the company's adjusted debt-to-EBITDA ratio
exceeded 4.0x due to either diminished operating performance or
increased debt.  Factors that could negatively impact operating
performance include higher product costs; prolonged weakness in
the North American and international end markets; and/or the loss
of any portion of business with its largest customers.  Debt-
financed acquisitions or share repurchases could increase debt.

Factors that could have favorable rating implications include
sustained revenue growth, improvement in operating margins and
free cash flow generation resulting in further debt reduction such
that both free cash flow as a percentage of debt increases to over
15% and debt-to-EBITDA declines to less than 3.5x on a sustainable
basis; and/or material growth in its tangible equity base.

These ratings/assessments were affected:

  -- Corporate family rating, affirmed at Ba3;

  -- Probability of default rating, lowered to B1 from Ba3;

  -- $75 million new senior secured revolver due August 2015
     assigned a Ba3 (LGD3, 31%);

  -- $275 million new senior secured term loan due August 2016
     assigned a Ba3 (LGD3, 31%); and

  -- $75 million new delayed draw senior secured term loan due
     August 2016 assigned a Ba3 (LGD3, 31%).

The ratings on these securities will be withdrawn upon the close
of the transaction:

  -- $60 million existing senior secured revolving credit
     facility, due 2012, Ba1 (LGD2, 19%);

  -- $103.5 million existing senior secured term loan, due 2012,
     Ba1 (LGD2, 19%);

  -- $3.9 million senior secured term loan, due 2010, Ba1 (LGD2
     19%); and

  -- $175 million of 8 7/8% senior subordinated notes, due 2012,
     B2 (LGD5, 82%).

The elimination of the up-notching of the ratings that had been
formerly assigned to the existing revolving credit facility and
term loans and the reduction in the Probability of Default rating
reflect these factors: (i) elimination of the loss absorption that
had been provided by the senior subordinated notes, (ii) the move
to an all first-lien bank debt capital structure, which resulted
in the use by Moody's in its Loss-Given-Default framework of a 65%
family recovery rate (per the Moody's Loss-Given-Default
methodology) rather than the more common 50% family recovery rate,
and (iii) the use of the higher family recovery rate (65% rather
than 50%) implies a higher probability of default and therefore a
lower (B1) probability of default rating.

The senior secured bank credit facility benefits from the
collateral package, which consists of (i) a first priority
interest in substantially all of the assets of Blount and its
domestic subsidiaries, (ii) a pledge of Blount's capital stock
(held by its parent, Blount International Inc.), as well as 100%
and 65%, respectively, of the stock held at the company's domestic
and foreign subsidiaries; and (iii) upstream guarantees from
domestic subsidiaries and downstream guarantees from its parent
company.

Moody's last rating action for Blount, Inc. occurred December 23,
2009, at which time Moody's affirmed the company's Ba3 corporate
family and probability of default ratings, Ba1 on its amended and
extended senior secured credit facilities, and B2 rating on its
senior sub notes.

Blount International, Inc., headquartered in Portland, Oregon, is
a manufacturer of outdoor products and gear-related products.
Revenues and net income for the trailing twelve month period ended
March 31, 2010, were $523 million and $31 million, respectively.


BOSQUE POWER: Launches Ch. 11 Plan with $43M Equity Infusion
------------------------------------------------------------
Bankruptcy Law360 reports that Bosque Power Co. LLC has launched a
proposed blueprint for reorganization that would see its equity
sponsor pouring a $42.5 million infusion into the company in
exchange for an 85% stake in the reorganized company, a move that
has already come under fire from senior lenders.

                         About Bosque Power

Laguna Park, Texas-based Bosque Power Company, LLC, owns and
operates a natural gas fired power plant with a capacity of 800
megawatts.  The power-generating facility, located in Laguna Park,
commenced operations as a natural-gas power plant in 2000.  Bosque
Power Partners owns 100% of the membership interest in
Bosque Power.

Bosque Power filed for Chapter 11 on March 24, 2010, (Bankr. W.D.
Tex. Case No. 10-60348).  Henry J. Kaim, Esq., at King & Spalding
LLP, serve as bankruptcy counsel to the Debtor.  The Debtor tapped
Morgan, Lewis & Bockius LLP as special corporate counsel;
Greenhill & Co. LLC as financial advisor; and Kurtzman Carson
Consultants LLC as claims agent.  In its petition, the Debtor
listed assets and debts both ranging from $100,000,001 to
$500,000,000.


BROWN PUBLISHING: Shareholder Protests Proposed Asset Sale
----------------------------------------------------------
Jim Rosenberg at Editor & Publisher reports that Windjammer
Mezzanine and Equity Fund II L.P., a minority shareholder of Brown
Publishing, objected to the Company's proposed sale of its assets.
The shareholder said the Company failed to file notice with the
court identifying the successful bidder and appending a copy of
that bidder's asset-purchase agreement.

The Official Committee of Unsecured Creditors failed in its bid to
prohibit Brown Publishing's first lien lender bank group from
credit bidding its debt in an auction for the Debtors' assets.
The first lien lenders are owed roughly $72.7 million as of the
bankruptcy filing.

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

                   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.


BRUNDAGE-BONE: Wants Access to Wells Fargo's Cash Until August 16
-----------------------------------------------------------------
Brundage-Bone Concrete Pumping, Inc., and affiliate JLS Concete
Pumping, Inc., ask the U.S. Bankruptcy Court for the District of
Colorado to extend their debtor-in-possession financing agreement
with Wells Fargo Bank, N.A., and use of cash collateral until
August 16, 2010.

The Debtors are negotiating with Wells Fargo and the other major
parties-in-interest the terms of amendment to the Debtors' filed
plan of reorganization and will be filing a plan and submitting
other key documents to parties-in-interest for review over the
next 30 days.

Additionally, the Debtors and Wells Fargo were negotiating the
terms of an amended DIP Financing.

Wells Fargo has consented to the use of cash collateral, subject
to the same priority provisions, carve out provisions, adequate
protection liens, among others.

               About Brundage-Bone Concrete Pumping

Brundage-Bone Concrete Pumping Inc. and JLS Concrete Pumping Inc.,
claim to be the largest providers of concrete pumping services in
the U.S.  JLS Concrete Pumping services California and Nevada from
its corporate headquarters in Ventura and from satellite yards in
Bakersfield, Fresno, Gardena, Lancaster, Las Vegas, Moorpark, Palm
Springs, Riverside, San Diego, San Luis Obispo, Santa Clarita,
Temecula, Thousand Oaks, and Ventura.

Brundage-Bone and JLS filed for Chapter 11 on Jan. 18, 2010
(Bankr. D. Col. Case No. 10-10758).  Sender & Wasserman, P.C.,
assists the Debtors in their restructuring efforts.  According to
the schedules, the Company has assets of $325,708,061, and total
debts of $230,277,103 as of the Petition Date.


CALPINE CORPORATION: Moody's Assigns 'B1' for New Secured Notes
---------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to Calpine
Corporation's (B1 Corporate Family Rating) planned issuance of
senior secured notes due 2020.  The rating outlook for Calpine is
stable.

The B1 rating reflects continued improvement in the company's
overall financial performance and an expectation for strengthened
cash flow and earnings following the recent purchase of Conectiv
Energy's generation assets.  The rating also considers actions
taken by the company to produce more predictable cash flow and
earnings over the intermediate term through new contracted
projects being developed and bilateral arrangements in place
between the company and various end-users.  The rating considers
the company's hedging program, a favorable environmental profile,
and the sustained operating performance of the generation fleet.
At 12 months ending March 31, 2010, Moody's calculate the ratio of
Calpine's cash flow to debt at 8.4%, its cash flow coverage of
interest at 2.0x and its free cash flow to debt at 7.6%.  In light
of various above-referenced company initiatives and the
incremental cash flow and earnings expected from the Conectiv
assets, Moody's believe that future financial performance will
position the company reasonably well as a strong "B" rated
unregulated wholesale power company.

Proceeds from the offering will be used to repay a similar amount
of debt outstanding under the company's senior secured term loan.
Calpine has stated publicly that it plans to refinance the secured
term loan prior to its 2014 maturity.  Prior to this offering,
Calpine had refinanced more than 25% of the original $6.0 billion
secured term loan through a $1.2 billion 7.25% senior secured note
offering in November 2009 and a $400 million 8.0% senior secured
offering in June 2010.

The B1 rating assigned to the senior secured notes reflects the
pari-passu first lien collateral position of note holders relative
to the company's existing secured revolver (RC) and term loan
(rated B1) lenders.  Moody's observes that while the first lien
secured note holders share in the collateral on a pari-passu
basis, note holders have limits placed on their voting rights in
certain circumstances until such time as the RC and term loan has
been reduced to less than $500 million.  While these limitations
serve to weaken note holders' position relative to the RC and term
loan lenders, it is not considered material enough to warrant a
different rating on the notes.

The stable rating outlook reflects Moody's expectation for
continued execution of the company's strategy through strong plant
performance and a carefully implemented hedging strategy which is
expected to result in free cash flow generation helping to
facilitate consolidated debt reduction.

In light of the company's recent rating upgrade on May 5th,
limited prospects exist for the rating to be upgraded in the near-
term.  Calpine's Corporate Family Rating could be upgraded if the
company's ratio of free cash flow to debt reaches the high single
digits, its cash flow to debt exceeds 12%, and cash coverage of
interest expense is above 2.5x on a sustainable basis.

The rating could be downgraded if the company is not able to
continue executing on its current business plan through strong
plant performance and a carefully implemented hedging strategy
that results in free cash flow generation which facilitates
consolidated debt reduction.  Specifically, Calpine's CFR could be
downgraded if the company's cash flow to debt drops below 7%, and
its cash coverage of interest expense falls below 1.8x.

Moody's last rating action on Calpine occurred on June 1, 2010,
when a B1 rating was assigned to Calpine's issuance of
$400 million in senior secured notes due 2019.

Assignments:

Issuer: Calpine Corporation

  -- Senior Secured Regular Bond/Debenture, Assigned B1, LGD4, 50%

Headquartered in Houston, Texas, Calpine is a major U.S.
independent power company that owns 93 operating power plants with
an aggregate generation capacity of approximately 28,669 MW,
including the Conectiv assets acquired on July 1st.  For the
twelve month ending March 31, 2010, Calpine had operating revenues
of $6.4 billion.


CAPMARK FIN'L: Dewey & LeBoeuf Charging $1.93 Million for May
-------------------------------------------------------------
Pursuant to Sections 330 and 331 of the Bankruptcy Code,
professionals of Capmark Financial and the Official Committee of
Unsecured Creditors seek payment of their fees and reimbursement
of their expenses:

Dewey & LeBoeuf LLP is charging $1,925,287 for work done May 1 to
30.  Loughlin Meghji + Company sought approval of $785,267 in fees
for work done in April 1 to 30.  Kaye Scholer LLP is asking for
$372,607 for April while KPMG LLP is seeking $140,200 for the
month of May.

Kaye Scholer serves as the Debtors' counsel.  Dewey & LeBoeuf
serves as attorneys for the Debtors.  KPMG serves as tax and
accounting advisor to the Debtors.  Loughlin Meghji acts as the
Debtors' financial advisor.

As to the Committee's counsel, Kramer Levin Naftalis & Frankel LLP
is asking for $208,672 for the same month.  Kramer Levin acts as
the Committee's counsel.

                      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)


CAPMARK FIN'L: Has Stipulation with Committee on Loan Probe
-----------------------------------------------------------
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 Committee and the Debtors entered into a stipulation in
connection with the production of documents.  The Stipulation
provides, among others, that the Debtors will produce to the
Committee:

  (a) All documents and information offered for production by
      the Debtors in their objection to the 2004 Motion; and

  (b) From each of the custodians Jay N. Levine, Moshin Meghji,
      Thomas L. Fairfield, Gregory J. McManus, Paul W. Kopsky,
      William Gallagher, and Frederick Arnold, all non-
      privileged documents in the Debtors' possession, custody,
      or control, that can be identified through a reasonable
      search of the most likely repositories of information
      relating to the issue of:

         * the Secured Credit Facility negotiations;

         * potential alternatives to the Secured Credit
           Facility; and

         * the Debtors' decision to file for bankruptcy.

The Stipulation provides that the Custodians do not include the
non-employee directors of the Debtors.  The Debtors have
represented that their non-employee directors' documents and e-
mail do not reside on their systems and, thus, are not within the
Debtors' possession, custody or control.

Pursuant to the Stipulation, production of the Documents will be
on a rolling basis beginning August 2, 2010, and with the
production to be completed by August 27, 2010.

The parties further stipulate that they will work in good faith
to agree upon an appropriate form of privilege log to be provided
in connection with any documents or communications withheld from
production on the basis of an asserted privilege.

The Committee and the Debtors also agree to discuss in good faith
any requests by the Committee to depose one or more witnesses.

Accordingly, the Committee withdrew its 2004 Motion voluntarily
and without prejudice, including without prejudice to the rights
of the parties to seek or object to discovery in the future.

            Stipulation Governing Confidential Info.

Citibank N.A. and Citicorp North America also entered into a
stipulation governing production of confidential information with
the Committee.

The Stipulation provides, among others, that:

  (a) All documents, deposition testimony, deposition exhibits,
      interrogatory responses, admissions, or any other
      information or material produced to the Committee will be
      used solely for the purposes of the Committee's
      investigation of potential claims and objections relating
      to the Debtors' affairs including the prepetition secured
      credit facility and may not be used for any other
      purposes.

  (b) A Producing Party may designate Discovery Material
      produced by it as "Confidential" or "Highly Confidential"
      if the Producing Party believes in good faith that the
      Discovery Material contains or reflects non-public
      confidential, personal, financial, propriety, or
      commercially sensitive information.

  (c) The Committee is not obliged to challenge the designation
      of any Discovery Material as "Confidential" or "Highly
      Confidential" at the time of receipt, disclosure, or
      designation of the Material, and a failure to do so will
      not preclude a subsequent challenge to it.

Judge Sontchi granted the parties' Stipulation on July 13, 2010.
A full-text copy of the Stipulation is available for free at:

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

In a separate order, Judge Sontchi approved the stipulation
between the Committee and Citibank, N.A., and Citicorp North
America, Inc. governing discovery, pursuant to which:

(a) Citibank and Citicorp will produce to counsel to the
     Committee all non-privileged documents responsive to the
     document requests on a rolling basis as soon as reasonably
     practicable, but with an initial production by no later
     than July 23, 2010;

(b) If Citibank and Citicorp excluded from production any
     documents or communications on the basis of an asserted
     privilege, they will deliver a privilege log to counsel
     for the Committee.

(c) The Committee is permitted to serve deposition notices for
     a reasonable number of depositions of persons, and
     Citibank and Citicorp will make those persons available on
     dates reasonably agreed to by the parties.

(d) Citibank and Citicorp reserve their right to object to any
     or all of the Document Requests on the grounds that those
     Document Requests impose obligations beyond those set
     forth in the Federal Rules of Bankruptcy Procedure, are
     duplicative of other requests, are overly broad or unduly
     burdensome, are vague or ambiguous, or are not reasonably
     calculated to lead to the discovery of admissible evidence
     on any issue that might reasonably be or become pertinent
     in the Debtors' case.

(e) If the Committee and the Producing Parties are unable to
     consensually resolve any issues, the Committee may seek
     further Court order compelling production of (i) documents
     pursuant to the Document Requests, or (ii) witnesses in
     accordance with the Deposition Notices.

                      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)


CAPMARK FIN'L: Private Sale of Capmark Securities Shares Approved
-----------------------------------------------------------------
Capmark Financial Inc. and its units received approval from the
U.S. Bankruptcy Court of a private sale to MountainView Capital
Holdings, LCC, of all the issued and outstanding shares that
Debtor Capmark Capital Inc. holds in Capmark Securities Inc.

In the alternative, if the Court declines to approve the Private
Sale, the Debtors seek entry of an order:

  (i) scheduling an auction on August 13, 2010, at 10:00 a.m.;

(ii) approving the bidding procedures for the Sale of the
      Shares;

(iii) approving a break-up fee for the stalking horse bidder as
      protection against a topping bid that represents a higher
      or otherwise better offer;

(iv) scheduling August 16, 2010, at 3:00 p.m. as the date for
      the hearing to approve the Sale of the Shares to the
      winning bidder at the Auction;

  (v) establishing the objection deadline in connection with the
      proposed Sale; and

(vi) approving the proposed form of notice of the Auction and
      the Sale Hearing.

After the sale of the MSB Business to Berkadia, the Debtors had
initially determined it would be in the best interest of their
estates to wind down Capmark Securities' business and bear the
associated shut-down costs.

According to the Debtors, based on their understanding that a
negotiated purchase price for the equity of a broker-dealer that
has been in existence since 1979 would be relatively low, they
did not believe a formal and costly marketing process to sell the
business was warranted.

However, during the week of March 8, 2010, the Debtors received
an unsolicited offer of $100,000 from MountainView, which equals
the market purchase price offered for broker-dealer "shell"
businesses on www.Bdmarket.com -- an online auction Web site
where broker-dealer businesses are regularly advertised and sold.

The interest of MountainView caused the Debtors to reevaluate the
wind-down decision.  Given the continued cost of operating
Capmark Securities, the Debtors have analyzed whether an
expedited sale or wind-down would be the most efficient means to
create value and mitigate ongoing costs.

Based on this analysis, the Debtors determined that an
expeditious sale presents the best option to maximize value of
the Shares rather than a wind-down of Capmark Securities.

However, the Debtors still attempted to obtain a greater value
for the Shares, and after substantial negotiations between the
parties, MountainView increased its offer to $250,000, more than
twice the initial offer.

In late April 2010, after the Debtors had already engaged in
substantial discussions with MountainView, another party,
Cortlandt Capital Holdings Inc. also made an inquiry about
whether the Debtors would sell Capmark Securities.

Thereafter, Cortlandt made an offer in writing to purchase the
Shares for $250,000.

The Debtors carefully considered the two offers with the aid of
their legal and financial advisors, including Loughlin Meghji +
Company.  After consultation with the Official Committee of
Unsecured Creditors, the Debtors determined MountainView's offer
to be the highest or otherwise best available offer for the
Shares.

Among other reasons, the Debtors determined that MountainView's
offer provides the greatest likelihood of successful and
expedient closing because MountainView's offer had fewer
contingencies and two of MountainView's officers were former
officers of Capmark Securities and, therefore, have greater
familiarity with its business operations.

The Debtors believe that a public bidding process for the Shares
would not create more value than a private sale for their
estates, since prospective bidders would need to bid an
unrealistically high amount to overcome the cost involved with a
bidding process.

                           *     *     *

Judge Sontchi approved a private sale to MountainView Capital
Holdings, LCC of all the issued and outstanding shares that
Debtor Capmark Capital Inc. holds in Capmark Securities Inc.

In accordance with the order, Newman SB Holding Co. LLC, Debtors
Capmark Capital Inc., Capmark Affordable Equity Holdings Inc.,
Capmark Financial Group Inc. and Capmark Finance Inc., will be
deemed to have released Capmark Securities and MountainView.

Prior to the entry of the Court's order, David Cheung, senior
vice president, director of compliance and general counsel of
Capmark Securities Inc., filed with the Court an affidavit
supporting the request for approval of the Private Sale Order,
saying that:

   (i) the proposed Sale under the Sale Agreement, pursuant to
       which the Seller will sell all the issued and outstanding
       shares it holds in Capmark Securities to MountainView
       Capital Holdings, LLC, represents the highest or otherwise
       best offer for the sale of Capmark Securities;

  (ii) the Sale Agreement was negotiated fairly and at arm's-
       length and entered into good faith; and

(iii) the Sale represents the sound exercise of the Seller's
       business judgment.

In a separate affidavit, David Lausa, president of Capmark
Securities Inc., supported the Debtors' request for approval of
the Private Sale Order, asserting that the proposed Purchase
Price of $250,000 (i) is a reasonable price for a broker-dealer
business shell like Capmark Securities; (ii) resulted from good
faith, arm's-length negotiation between the Seller and
MountainView Capital Holdings, LLC; and (iii) represents the
sound exercise of the Debtors' business judgment.

                      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)


CATHOLIC CHURCH: Catholic Mutual Answers Fairbanks Complaint
------------------------------------------------------------
The Catholic Mutual Relief Society of America and The Catholic
Relief Insurance Company of America  -- the Defendants -- tell the
U.S. Bankruptcy Court for the District of Alaska that the first
amended complaint filed by the Settlement Trustee, Robert L.
Berger, failed to state a cause of action for which relief may be
granted against them because Catholic Relief Insurance has never
issued an insurance policy to CBNA.

Mr. Berger previously sought and obtained the Court's authority to
replace the Catholic Bishop of Northern Alaska as plaintiff in the
adversary proceeding.

John C. Wendlandt, Esq., at Sedor, Wendlandt, Evans & Filippi,
LLC, in Anchorage, Alaska, contends that the complaint is
premature insofar as it seeks a declaratory judgment with respect
to Catholic Mutual's duty to indemnify that may only arise, if at
all, in the event CBNA, at some future date, becomes legally
obligated to make payment in connection with the claims advanced
in the clergy abuse cases filed against the Diocese.

Since that had not yet occurred -- and may never occur -- the
question of whether the Defendants have a duty to indemnify does
not present an actual controversy ripe for adjudication under the
Declaratory Judgment Act, Mr. Wendlandt argues, citing Sections
2201 et seq. of the Judicial and Judiciary Procedures Code.

Coverage under all certificates issued to CBNA by Catholic Relief
Society during the calendar period April 15, 1979, to April 15,
1983, extends only to sums the Plaintiff becomes legally obligated
to pay as damages because of a "Bodily Injury" -- or, under
Umbrella Excess certificates, because of "Personal Injury," which
is "caused by an occurrence," Mr. Wendlandt avers.  He explains
that those certificates define an "occurrence" as "an accident,"
which results in an injury "neither expected nor intended" from
the standpoint of the Plaintiff.

Accordingly, Catholic Mutual asserts, among other things, that the
Settlement Trustee fails to state a cause of action for which
relief may be granted under those coverage certificates to the
extent he cannot prove the injuries suffered by Claimants arose
from acts of sexual misconduct that were unexpected or unintended.

              Berger Objects to Motion to Compel

In its motion to compel arbitration and stay proceedings related
to the post-1990 abuse claims pending arbitration, The Catholic
Mutual Relief Society of America asserts that it seeks contractual
arbitration of disputes under its 2008-09 contract of insurance
with the Catholic Bishop of Northern Alaska, Settlement Trustee
Robert L. Berger tells the U.S. Bankruptcy Court for the District
of Alaska.

"One glance at the 'arbitration clause,' however, reveals that
Catholic Mutual actually seeks a pre-determined advisory ruling
through a one-sided process more akin to a Stalin era show trial,
than a neutral arbitration," argues John C. Manly, Esq., at Manly
& Stewart, in Newport Beach, California.

The "arbitration clause," which Catholic Mutual curiously fails to
set forth in full in its Motion to Compel, requires that disputes
involving the Policy be "arbitrated" before officers and directors
of Catholic Mutual, Mr. Manly contends.  In other words, he
alleges, Catholic Mutual will conveniently serve as both party and
judge in any dispute concerning the Policy.

As if there could be any reasonable doubt concerning the outcome
of the "arbitration," the Policy provides that the "arbitration
committee" will make its decision based, among other factors, upon
what "best protect[s]" Catholic Mutual, Mr. Manly argues.  He adds
that even if the "arbitration clause" is enforceable, the Motion
to Compel would have to be denied as premature.

Hence, the Settlement Trustee says that the arbitration clause is
unconscionable, and the Motion to Compel must be denied.

George W. Bowder and Paul J. Sievers, Esq., filed separate
affidavits in support of the Settlement Trustee's objection.  Mr.
Bowder is the Diocese's Director of Finance, while Mr. Sievers is
the special insurance counsel for the Official Committee of
Unsecured Creditors.

                Second Motion Should be Denied,
                       R. Berger Insists

In another objection, Mr. Berger argues that Catholic Mutual's
second motion for partial summary judgment is expressly based on
the factual assertion that "CBNA breached its duty to cooperate by
settling with the [Tort] Claimants, admitting liability, and
agreeing to liquidation arbitrations, all without [Catholic
Mutual's] consent."

In its Second Motion, Catholic Mutual seeks declarations that (i)
the Diocese has breached its contractual obligations to Catholic
Mutual, which had agreed to defend the Diocese in connection with
22 proofs of claim for abuses alleged to have occurred during the
period April 15, 1979, to April 15, 1983, by agreeing to a
settlement of these Potential Suits, as incorporated into the
Diocese's Confirmed Plan, without Catholic Mutual's consent, (ii)
by virtue of the breach, the Diocese and the Settlement Trustee
have forfeited any coverage Catholic Mutual might have provided in
connection with the Potential Suits, and (iii) Catholic Mutual has
no duty to defend the Diocese or the Settlement Trustee in
connection with the arbitration proceedings established by the
Plan.

"In the real world, as opposed to the fictional one created by
Catholic Mutual, CBNA contributed nearly $10 million of its own
funds and assigned its insurance rights to settle over 200 tort
claims asserted against it, only 22 of which Catholic Mutual had
agreed to defend -- a fact conveniently ignored by Catholic Mutual
in the Motion," asserts James I. Stang, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Los Angeles, California.

The Diocese did not admit to liability on any claim, even the 180+
claims Catholic Mutual refused to defend, Mr. Stang contends.
Rather, he asserts, as expressly recited in the Second Motion, the
claims still need to be liquidated, hence, the need for the
arbitrations.

Even assuming a breach by the Diocese, Catholic Mutual can point
to no resulting prejudice because Catholic Mutual remains free to
adjust or defend the claims it is defending, and no defenses, even
on claims Catholic Mutual has refused to defend, have been waived,
Mr. Stang argues.  Further and more importantly, it is Catholic
Mutual, as opposed to CBNA, that has actually breached certain
insurance certificates Catholic Mutual issued to CBNA, he alleges.

The offer to settle the claims Catholic Mutual agreed to defend
plus the holders of additional covered claims was provided to
Catholic Mutual, which refused to even respond, Mr. Stang tells
the Court.  Left without a defense to the majority of the claims
against it, and in light of Catholic Mutual's failure to even
discuss settling the claims it was defending, CBNA agreed to the
settlement that resulted in the Plan, he continues.

The Second Motion is procedurally deficient for it seeks
adjudication of defenses and issues that have not been asserted in
any pleading in the adversary proceeding, Mr. Stang contends.  He
adds that the relief sought in the Second Motion fails to
completely dispose of a claim or cause of action and hence, it
must be denied.

                    Catholic Mutual Replies

The Settlement Trustee's objection brief is more noteworthy for
what it fails to say than for what it says, Mr. Wendlandt argues.
He alleges that the Settlement Trustee simply ignores that under
the Plan, CBNA's responsibility for the claims that Catholic
Mutual agreed to defend has been "discharged" and "extinguished
completely" so that the Claimants cannot recover any damages they
win in the arbitrations.

As a consequence of the complete release of liability embodied in
those provisions of the Plan, CBNA cannot possibly become "legally
obligated to pay . . . damages," Mr. Wendlandt contends.
Therefore, he points out, as a matter of law, Catholic Mutual can
have no obligation to defend or indemnify CBNA in the
arbitrations.

The Settlement Trustee asserted that the Plan does not constitute
an unauthorized confession of judgment because, as of its
effective date, it merely deems claims to be "allowed" "for
purposes of distribution" and defers "'allowance' for purposes of
valuation" until the arbitration proceedings are conducted, Mr.
Wendlandt relates.  He argues that this curious exercise in
semantics cannot withstand scrutiny under the terms of the Plan
and the Bankruptcy Code.  He insists, among other things, that
under the express terms of the Plan, each Allowed Tort Claim
constitutes a judgment against CBNA, which is a clear violation of
the terms of the Catholic Mutual's insurance certificates.

                       Parties Stipulate

The Diocese/Settlement Trustee and Defendant Alaska National
Insurance Company agree in a Court-approved stipulation that ANIC
is dismissed with prejudice from the adversary proceeding.

Each party will bear its own attorneys' fees and costs.

                About the Diocese of Fairbanks

The Roman Catholic Diocese of Fairbanks in Alaska, aka Catholic
Bishop of Northern Alaska, aka Catholic Diocese of Fairbanks, aka
The Diocese of Fairbanks, aka CBNA -- http://www.cbna.info/--
filed for Chapter 11 bankruptcy on March 1, 2008 (Bankr. D. Alaska
Case No. 08-00110).  Susan G. Boswell, Esq., at Quarles & Brady
LLP represents the Debtor in its restructuring efforts.  Michael
R. Mills, Esq., of Dorsey & Whitney LLP serves as the Debtor's
local counsel and Cook, Schuhmann & Groseclose Inc. as its special
counsel.  Judge Donald MacDonald, IV, of the United States
Bankruptcy Court for the District of Alaska presides over
Fairbanks' Chapter 11 case.  The Debtor's schedules show total
assets of $13,316,864 and total liabilities of $1,838,719.

The church's plans to file its bankruptcy plan and disclosure
statement on July 15, 2008.  Its exclusive plan filing period
expires on January 15, 2009.  (Catholic Church Bankruptcy News;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


CELERITAS TECHNOLOGIES: Voluntary Chapter 11 Case Summary
---------------------------------------------------------
Debtor: Celeritas Technologies, LLC
        7101 College Blvd, Suite 600
        Overland Park, KS 66210

Bankruptcy Case No.: 10-22381

Chapter 11 Petition Date: July 13, 2010

Court: United States Bankruptcy Court
       District of Kansas (Kansas City)

Judge: Robert D. Berger

Debtor's Counsel: Lisa Epps Dade, Esq.
                    Tel: (816) 292-8881
                    Fax: (816) 474-3216
                    E-mail: leppsdade@spencerfane.com
                  Scott J. Goldstein, Esq.
                    Tel: (816) 474-8100
                    E-mail: sgoldstein@spencerfane.com
                  Spencer Fane Britt & Browne LLP
                  1000 Walnut, Suite 1400
                  Kansas City, MO 64106-2140

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

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

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

The petition was signed by Brett Lester, managing member.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
CeleritasWorks, LLC                    10-22382   07/13/10


CELERITASWORKS LLC: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: CeleritasWorks, LLC
        7101 College Blvd., Suite 600
        Overland Park, KS 66210

Bankruptcy Case No.: 10-22382

Chapter 11 Petition Date: July 13, 2010

Court: United States Bankruptcy Court
       District of Kansas (Kansas City)

Judge: Robert D. Berger

Debtor's Counsel: Lisa Epps Dade, Esq.
                    Tel: (816) 292-8881
                    Fax: (816) 474-3216
                    E-mail: leppsdade@spencerfane.com
                  Scott J. Goldstein, Esq.
                    Tel: (816) 474-8100
                    E-mail: sgoldstein@spencerfane.com
                  Spencer Fane Britt & Browne LLP
                  1000 Walnut, Suite 1400
                  Kansas City, MO 64106-2140

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/ksb10-22382.pdf

The petition was signed by Brett Lester, managing member.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Celeritas Technologies, LLC            10-22381   07/13/10


CENTRAL FALLS, R.I.: New Receiver Kicks Out Mayor
-------------------------------------------------
The Providence Journal reports that Mark A. Pfeiffer, a retired
Superior Court judge appointed by the state to run the city's
finances, notified Mayor Charles D. Moreau Monday morning that he
was assuming the powers of the city's mayor, demoting Mr. Moreau
to advisory status, cutting his pay to $1,000 every two weeks and
ordering him to return his city vehicle, cell phone and any other
city equipment.

"You should contact my assistant . . . to make arrangements to
have your personal belongings delivered or otherwise made
available to you," Judge Pfeiffer wrote in a letter that was to be
hand-delivered to Mr. Moreau Monday morning, according to the
report.

Mr. Moreau was drawing a salary of about $70,000 a year, or around
$1,350 a week, the report notes.  Almost immediately, City
Councilman James Diossa called for Mr. Moreau's resignation, the
report adds.

Central Falls has been grappling with a $3 million deficit from
last year and a projected $5 million deficit in its current year
municipal budget of about $17.8 million.

According to the report, Judge Pfeiffer also notified city
Personnel Director Eugene Noury that he was being laid off as of
Friday and relieved of his duties immediately, "so you should not
report for duty."  Judge Pfeiffer said he would be bringing in
outside staff to supervise the personnel department.

Judge Pfeiffer, 62, retired as an active judge in 2009.  He is
being assisted on the Central Falls assignment by Christy Healey,
who, as a compliance manager in the governor's Office of Economic
Recovery and Reinvestment, was responsible for the finances of the
office and compliance with the federal economic stimulus law.


CHELMSFORD LLC: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Chelmsford, LLC
        1150 Portion Road, Suite 16
        Holtsville, NY 11742

Bankruptcy Case No.: 10-75578

Chapter 11 Petition Date: July 16, 2010

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

Judge: Alan S. Trust

Debtor's Counsel: Kenneth Reynolds, Esq.
                  McBreen & Kopko
                  500 North Broadway
                  Jericho, NY 11753
                  Tel: (516) 364-1095
                  Fax: (516) 364-0612
                  E-mail: kreynolds@mklawnyc.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 Jerrold Gorelick.


CHRYSLER LLC: TARP Inspector Finds Fault in Rapid Dealer Cuts
-------------------------------------------------------------
Neil Barofsky, special inspector general for the Troubled Asset
Relief Program, said in an audit report that the U.S. Treasury's
request that General Motors Co. and Chrysler Group LLC speed up
the closing of U.S. dealerships may have contributed to job losses
and may have provided little benefit to the long-term viability of
the two automakers.

In February 2009, prior to filing for bankruptcy, as a condition
for further loans, Chrysler and GM were required by the Treasury
to submit restructuring plans.  The Treasury rejected the
automakers' reorganization plans in March 2009, in part citing a
"slow pace" for GM to scale back its dealer network.  In light of
the rejection and their intervening bankruptcies, GM and Chrysler
"significantly accelerated" their dealership termination
timetables, with Chrysler scrapping 789 dealerships by June 10,
2009, and GM announcing plans to wind down 1,454 dealerships by
October 2010.

He noted that job losses at terminated dealerships were
"apparently not a substantial factor" in the Treasury Auto Team's
decision to scrap the more gradual termination plan.  He added
that Treasury is not insulated from "its responsibility to the
broader economy" and should have kept in mind that one goal of the
loan agreements was to "preserve and promote jobs of American
workers employed directly by the automakers and subsidiaries and
in related industries."

Mr. Barofsky said the Treasury should have at least considered
whether the benefits of speeding up the closings outweighed costs
from a potential loss of tens of thousands of jobs.

"Such dramatic and accelerated dealership closings may not have
been necessary and underscores the need for Treasury to tread very
carefully when considering such decisions in the future,"
Mr. Barofsky concluded.

"This sobering report should serve as a wake-up call as to the
implications of politically orchestrated bailouts," Representative
Darrell Issa, a California Republican and ranking member on the
House Committee on Oversight and Government Reform, said in a
statement, according to Bloomberg News.

Bloomberg relates that Obama's Treasury Department, which has
spent $80.7 billion on auto assistance under the TARP program,
criticized the inspector's audit and said without government aid
both companies faced failure and possible liquidation.

A copy of Mr. Barofsky testimony before the Senate Committee on
Finance is available at:

          http://researcharchives.com/t/s?66d5

Pursuant to the Emergency Economic Stabilization Act of 2008, the
Office of the Special Inspector General for the Troubled Asset
Relief Program must report to Congress on its oversight activities
and compile certain specified data and information about the
operation of TARP.  A copy of the report submitted by SIGTARP to
Congress on July 21 is available for free at:

           http://researcharchives.com/t/s?66d3

                        About Chrysler LLC

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

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

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


CITIGROUP INC: Names Co-Heads to Global Industrials Group
---------------------------------------------------------
Citigroup Inc.'s Raymond J. McGuire said the bank has named Wes
Walraven and Wayne Beckmann co-heads of its Global Industrials
Group.  According to an internal memo obtained by The New York

Citigroup Inc.'s Raymond J. McGuire said the bank has named Wes
Walraven and Wayne Beckmann co-heads of its Global Industrials
Group.  According to an internal memo obtained by The New York
Times' DealBook, Mr. Walraven will relocate to New York from Los
Angeles to lead Citi's GIG Investment Banking business.

                       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.


COMMERCIAL VEHICLE: Board Okays Salary Adjustment for K. Frailey
----------------------------------------------------------------
The Compensation Committee of the Board of Directors of Commercial
Vehicle Group Inc. approved a market salary adjustment for Kevin
R.L. Frailey following his promotion to President of Electrical
Systems.  Effective July 12, 2010, Mr. Frailey, who previously
served as Executive Vice President and General Manager of
Electrical Systems, will receive a base salary increase of 5%,
along with an increase in his auto allowance in connection with
his appointment.  Mr. Frailey's target incentive bonus percentage
remains the same.

                  About Commercial Vehicle Group

New Albany, Ohio-based Commercial Vehicle Group, Inc., (Nasdaq:
CVGI) supplies fully integrated system solutions for the global
commercial vehicle market, including the heavy-duty truck market,
the construction and agricultural markets, and the specialty and
military transportation markets.  The products include static and
suspension seat systems, electronic wire harness assemblies,
controls and switches, cab structures and components, interior
trim systems (including instrument panels, door panels,
headliners, cabinetry and floor systems), mirrors and wiper
systems specifically designed for applications in commercial
vehicles.  The Company has facilities located in the United States
in Arizona, Indiana, Illinois, Iowa, North Carolina, Ohio, Oregon,
Tennessee, Virginia and Washington and outside of the United
States in Australia, Belgium, China, Czech Republic, Mexico,
Ukraine and the United Kingdom.

Commercial Vehicle Group Inc.'s balance sheet at December 31,
2009, showed $250.5 million in total assets and $288.2 million in
total liabilities, resulting in a $37.7 million stockholders'
deficit.

                          *     *     *

Commercial Vehicle carries a 'Caa2' Corporate Family Rating and
'Caa2/LD' Probability of Default Rating from Moody's.  It has a
'CCC+' corporate credit rating from Standard & Poor's.


CONJUCHEM BIOTECHNOLOGIES: Files for Bankruptcy Under CCAA
----------------------------------------------------------
ConjuChem Biotechnologies Inc. has filed a voluntary assignment in
bankruptcy under the Bankruptcy and Insolvency Act (Canada) in
order to effect an orderly liquidation of its assets, property and
operations.  The protection of the Court granted under the
Companies' Creditors Arrangement Act (Canada) ended on July 19,
2010.  In light of the foregoing, the directors and officers of
the Company have resigned.

RSM Ritcher Inc. has been appointed as trustee in bankruptcy.

Contact:

    Gilles Robillard
    CA
    CIRP
    Telephone: (514) 934-3484
    Facsimile: (514) 934-3504
    E-mail: grobillard@rsmrichter.com

    Ariella Yedid
    CA
    Telephone: (514) 934-3532
    Facsimile: (514) 934-3504
    E-mail: ayedid@rsmrichter.com


DAREMY ENTERPRISES: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Daremy Enterprises, Ltd.
        1150 Portion Road, Suite 16
        Holtsville, NY 11742

Bankruptcy Case No.: 10-75579

Chapter 11 Petition Date: July 16, 2010

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

Judge: Robert E. Grossman

Debtor's Counsel: Kenneth Reynolds, Esq.
                  McBreen & Kopko
                  500 North Broadway
                  Jericho, NY 11753
                  Tel: (516) 364-1095
                  Fax: (516) 364-0612
                  E-mail: kreynolds@mklawnyc.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 Jerrold Gorelick, president.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Chelmsford, LLC                        10-75578    07/16/10


DAVID LUECKE: Case Summary & 13 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: David Luecke
               Laurie Luecke
               1122 Stonebridge Park Dr
               Franklin, TN 37069

Bankruptcy Case No.: 10-07441

Chapter 11 Petition Date: July 16, 2010

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

Judge: George C. Paine II

Debtor's Counsel: Elliott Warner Jones, Esq.
                  1600 Division Street, Suite 675
                  Nashville, TN 37203
                  Tel: (615) 916-5264
                  E-mail: elliott@elliottwarnerjones.com

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

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

A list of the Joint Debtors' 13 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/tnmb10-07441.pdf

The petition was signed by the Joint Debtors.


DAVID MCLAUGHLIN: Case Summary & 8 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: David W. McLaughlin
        807 Washington Drive
        Chesapeake, VA 23322

Bankruptcy Case No.: 10-73260

Chapter 11 Petition Date: July 13, 2010

Court: United States Bankruptcy Court
       Eastern District of Virginia (Norfolk)

Judge: Stephen C. St. John

Debtor's Counsel: Joseph T. Liberatore, Esq.
                  Crowley, Liberatore, & Ryan, P.C.
                  1435 Crossways Boulevard, Suite 300
                  Chesapeake, VA 23320
                  Tel: (757) 333-4500
                  Fax: (757) 333-4501
                  E-mail: jliberatore@clrfirm.com

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

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

A list of the Debtor's 8 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/vaeb10-73260.pdf

The petition was signed by Mr. McLaughlin.


DELPHI CORP: Talking to Banks for Possible IPO
----------------------------------------------
Reuters' Soyoung Kim and Kevin Krolicki report that U.S. auto
parts maker Delphi Automotive LLP has begun sounding out
investment banks about the prospect of an initial public offering
that would mark its return as a listed company as early as next
year, according to three people familiar with those early-stage
discussions.  Sources told Reuters the timing of an IPO remains
subject to a number of uncertainties, including the strength of
the equity markets.

The sources told Reuters a pitch to potential investors has not
begun and meetings between Delphi representatives led by Chief
Executive Rodney O'Neal and investment bankers who might lead an
IPO will not begin for weeks.

According to Reuters, one banker with knowledge of the initial
Delphi discussions said Delphi could be valued at around $7
billion.

Reuters also reports the sources said that a Delphi IP will have
to be timed to avoid a conflict with the much larger GM IPO that
could come later this year.  The sources asked not to be named
because the discussions remain informal and confidential.

Delphi declined to comment, saying decisions on any stock offering
would be made by the company's board and investors.

A group of lenders led by Silver Point Capital LP and Elliott
Management won a battle in bankruptcy court to buy its key assets.
That investor group agreed to forgive nearly $4.5 billion of
bankruptcy loans it acquired from previous lenders and agreed to
invest another $900 million in the company.

Delphi posted a $210 million net profit for the first quarter, its
first full quarter out of bankruptcy.

                        About Delphi Corp.

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

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

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

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

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

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


DENMAN TIRE: Titan Tire Completes Machinery and Equipment Purchase
------------------------------------------------------------------
Titan Tire Corporation, a subsidiary of Titan International Inc.,
closed on the Denman Tire machinery and equipment purchase that
was previously approved by the United States Bankruptcy Court for
the Northern District in Ohio.  The machinery and equipment,
including other inventory items, was purchased for $3 million U.S.
Dollars.  The purchase did not include any land or buildings.

"[The] machinery and equipment purchase for $3 million, along with
the previous acquisition of the Denman name, tire specifications,
patents, molds and other items for $4.4 million in June 2010, for
a total of $7.4 million, is a good deal for Titan," said Chairman
and CEO Maurice M. Taylor Jr.  "We expect to get our investment
back in a short period of time."

Titan International, Inc. -- http://www.titan-intl.com-- is a
holding company, owns subsidiaries that supply wheels, tires and
assemblies for off-highway equipment used in agricultural,
earthmoving/construction and consumer (including all terrain
vehicles) applications.

                     About Denman Tire

Based in Ohio, Denman Tire -- http://www.denmantire.com/-- is a
producer of specialty tires.

Denman Tire filed for Chapter 7 liquidation in May 2010.  The
Company had informed workers in February that it may close down
due to poor economic conditions.  The Company said it is trying to
look for a buyer that could reopen its plant.  A total of 270
workers have been laid off since November 2009.

The petition says the Company owes between $1 million and $10
million to more than 200 creditors.


DENNY'S CORP: Directors Report Disposition of Securities
--------------------------------------------------------
Mark F. Wolfinger, EVP, Chief Administrative Officer and CFO of
Denny's Corporation, disposed of 50,000 Restricted Stock/
Performance Units on July 16, 2010.  The RSUs reflect the partial
settlement of vested units (previously awarded under the 2004
total shareholder return program -- October 2005 Supplemental
Awards) which were paid 50% in Denny's common stock and 50% in
cash.  Following the transaction, Mr. Wolfinger has 200,000 RSUs.

Also on July 16, Mr. Wolfinger disclosed acquiring 25,000 common
shares, raising his stake to 148,296 common shares.

In a separate filing, Mr. Wolfinger disclosed that on July 9 he
disposed of 21,978 Restricted Stock Units.  He held 43,956 RSUs
following the transaction.  The Restricted Stock Units vest in 20%
annual installments and are settled in cash equal to the fair
market value of the underlying shares as of the vesting date.

Mr. Wolfinger also disclosed acquiring -- and then disposing of --
21,978 common shares.  He held 123,296 common shares following
those transactions.

Jay C. Gilmore, the company's VP, Chief Administrative Officer and
Corporate Controller, disposed of 1,667 Restricted Stock/
Performance Units on July 16 as partial settlement of vested units
(previously awarded under the 2004 total shareholder return
program) which were paid 50% in Denny's common stock and 50% in
cash.  He also disposed of 6,667 RSUs as partial settlement of
vested units (previously awarded under the 2004 total shareholder
return program -- October 2005 Supplemental Awards) which were
paid 50% in Denny's common stock and 50% in cash.  Following the
transactions, Mr. Gilmore holds 26,666 RSUs.

Also on July 16, Mr. Gilmore acquired 4,166 common shares, raising
his stake to 30,449 common shares.

Denny's director Robert E. Marks disclosed acquiring 10,000
restricted stock units on June 7, 2010.  The Restricted stock
units, which were granted under the Denny's Corporation 2004
Omnibus Incentive Plan, vest 100% on the first anniversary of the
grant date, and are payable in shares of common stock on a one-
for-one basis upon vesting or upon Mr. Marks' termination of
service as a director of Denny's, as elected by Mr. Marks.

In separate filings, several directors disclosed acquiring
Deferred Stock Units on June 30.  The Deferred Stock Units were
granted under the Denny's Corporation 2004 Omnibus Incentive Plan,
were 100% vested upon the date of grant, and are payable, on a "1-
for-1" basis, in Denny's common stock upon Ms. Lauderback's
termination of service as director.

Mr. Marks disclosed acquiring 385 Deferred Stock Units.  Mr. Marks
may be deemed to hold 83,922 Deferred Stock Units following the
transaction.

Brenda J. Lauderback disclosed acquiring 577 Deferred Stock Units.
Ms. Lauderback may be deemed to hold 69,441 Deferred Stock Units
following the transaction.

Louis P. Neeb disclosed acquiring 577 Deferred Stock Units.
Following the transaction, Mr. Neeb may be deemed to hold 49,432
Deferred Stock Units.

Donald C. Robinson acquired 577 Deferred Stock Units.  Mr.
Robinson may be deemed to hold 42,213 Deferred Stock Units
following the transaction.

Donald R. Shepard acquired 385 Deferred Stock Units.  Mr. Shepard
may be deemed to hold 87,008 Deferred Stock Units following the
transaction.

Debra Smithart-Oglesby acquired 385 Deferred Stock Units.  She may
be deemed to hold 85,524 Deferred Stock Units following the
transaction.

Ms. Smithart-Oglesby, the Company's Board Chair, has succeeded
Nelson Marchioli, who had served as the Chief Executive Officer
and President of Denny's, effective June 30, 2010.  Mr. Marchioli
stepped down from the Company.  Ms. Smithart-Oglesby has been
appointed Interim Chief Executive Officer.

On July 12, Morgan Stanley disclosed that it no longer holds
Denny's shares.

                     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.

As of March 31, 2010, the Company had total assets of
$313.733 million against total liabilities of $432.726 million,
resulting in stockholders' deficit of $118.993 million.

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.


DFL CARIBBEAN: Fitch Affirms Issuer Default Rating at 'BB'
----------------------------------------------------------
Fitch Ratings affirms these ratings for DFL Caribbean Holdings
Limited and its subsidiary, Development Finance Limited:

DFL Caribbean Holdings Limited

  -- Long-term Issuer Default rating at 'BB';
  -- Short-Term IDR at 'B';
  -- Individual rating at 'D';
  -- Support rating at '3'.

Development Finance Limited

  -- Long-term Issuer Default Rating at 'BB';
  -- Short-term IDR at 'B';
  -- Individual rating at 'D';
  -- Support rating at '3'.

Fitch also downgrades DFL's preferred stock rating to 'B-' from
'B+'.  The Rating Outlook for DFL is Stable.

DFL's long-term IDR is underpinned by Fitch's view that there is
moderate probability of support, which is reflected in the '3'
support rating, from DFL's owners in the event of need.  The
largest shareholders are RBTT (owned by Royal Bank of Canada) with
31%, the Government of Trinidad and Tobago with 28%, the European
Investment Bank with 8.5%, and the Inter-American Investment
Corporation with 8.5%.  DFL's focus on lending to SMEs and
microfinance appears consistent with policy goals of the
government, the EIB and IIC.  Fitch considers potential support to
be institutional in nature, thus there is no rating floor
assigned.

The Individual rating, which measures standalone financial
strength, reflects exposure concentrations, a large level of
impaired loans and operations in riskier markets counterbalanced
by DFL's solid capital ratio and long-term funding structure.
Given its policy related lending focus, DFL's financial measures
may not be comparable to those of typical banks and other
financial institutions.

Under Fitch's criteria, ratings of preferred stock and other
hybrid instruments are based on an institution's standalone
financial strength as reflected in the Individual rating.  With
this in mind, the downgrade of DFL's preferred stock rating
reflects aforementioned concerns combined with declining financial
performance in 2009.

The long-term IDR could be affected if Fitch's view of the
probability of support changes.  Any upside to the long-term IDR
or Individual rating is constrained by DFL's small size, limited
market position and credit concentration risk.  A downgrade of the
Individual rating or a further downgrade of the preferred stock
rating could occur in the event of significant operating losses
and impairment of capital.

Established in 1970, DFL converted to a holding company structure
in 2007 under parent company, DFL Caribbean Holdings Limited.
Subsidiaries of this holding company are Development Finance
Limited, DFLSA Incorporated, Caribbean Development Capital
Limited, and Caribbean Microfinance Trinidad and Tobago and CDN
Management Services Limited.  Development Finance Limited is by
far the largest component of the group.  This unit focuses on
lending to SMEs for a variety of industries in T&T and other
countries in the region.


DOVER MOTORSPORTS: Posts $4.6 Million Net Loss in First Quarter
---------------------------------------------------------------
Dover Motorsports, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $4.6 million on $167,000 of revenue for
the three months ended March 31, 2010, compared with a net loss of
$4.7 million on $85,000 of revenue for the same period of 2009.

The Company's balance sheet at March 31, 2010, showed
$144.8 million in assets, $86.9 million of liabilities, and
$57.9 million of stockholders' equity.

As of March 31, 2010, the Company has $41.3 million outstanding
under its revolving credit facility which expires on July 1, 2011.
The Company believes the current continuing downturn in economic
conditions, including those affecting disposable consumer income
and corporate budgets, will have an adverse effect on its
projected revenues from admissions and sponsorships.  Based on its
current projected future results, the Company does not expect to
be in compliance with the financial covenants of its revolving
credit facility in the second quarter.  The Company is currently
working with the lenders to amend the provisions of the credit
agreement including the revision of the financial covenants to
levels that it believes it will be able to maintain compliance
with for at least the next twelve months.

"The projected noncompliance with our revolving credit facility
raises substantial doubt about our ability to continue as a going
concern."

A full-text copy of the Quarterly Report is available for free at:

               http://researcharchives.com/t/s?66c7

Dover, Del.-based Dover Motorsports, Inc. (NYSE: DVD)
- http://www.DoverMotorsports.com/- promotes motorsports events
in the United States.  DVD subsidiaries operate three tracks in
three states, and present several hundred motorsports events each
year.  For 2009, 14 major national events were held, including
races sanctioned by NASCAR and NHRA.  Dover Motorsports, Inc. owns
and operates Dover International Speedway in Dover, Del., Gateway
International Raceway near St. Louis, Mo., and Nashville
Superspeedway near Nashville, Tenn.


EDUCATE INC: Moody's Affirms Corporate Family Rating at 'B3'
------------------------------------------------------------
Moody's Investors Service affirmed Educate, Inc.'s B3 corporate
family and probability-of-default ratings.  Concurrently, Moody's
affirmed the B3 rating on the second lien term loan.  The ratings
on the first lien credit facilities have been withdrawn.  The
ratings outlook was revised to stable from negative.

The outlook revision reflects Educate's improved liquidity profile
following the recent completion of an amendment to the second lien
term loan that improves flexibility under financial covenants.
The outlook revision also reflects additional debt paydown that
resulted in the full redemption of the first lien term loan,
relatively stable earnings levels despite contracting sales, and
Moody's expectation that revenue trends will improve over coming
quarters based on recent increases in enrollments.

Following Educate's full repayment of the first lien term loan and
its voluntary termination of the revolving credit facility, the
company is no longer subject to those covenants.  Educate has
available to it a temporary $15 million unsecured line of credit
with its financial sponsor (currently undrawn).  However, the
company expects to close on a new $5 million revolving credit
facility within the near-term and the ratings assume this will be
completed.

The affirmation of the B3 rating reflects credit metrics that are
solid for the ratings category, high operating margins, and the
strength of the Sylvan brand name.  However, the rating also
considers the company's modest scale and continued year-over-year
revenue declines due to a reduction in royalties.

These summarizes the ratings activity:

Ratings affirmed:

  -- Corporate Family Rating at B3;

  -- Probability-of-Default Rating at B3.

  -- $75 million second lien term loan due 2014 at B3 (LGD3, 44%).
     Point estimate revised from (LGD4, 55%).

Ratings withdrawn:

  -- Senior secured revolving credit facility due 2012 at Ba3
     (LGD1, 5%);

  -- First lien term loan B due 2013 at Ba3 (LGD1, 5%).

The last rating action was on September 15, 2009, when Moody's
lowered Educate's corporate family and probability-of-default
ratings to B3 from B2.  Moody's also downgraded the rating on the
company's first lien senior secured credit facilities to Ba3 from
Ba2.  The rating on the second lien term loan was affirmed at B3.
The ratings outlook remained negative.

Headquartered in Baltimore, Maryland, Educate, Inc. is a leading
education services company for students ranging from pre-
kindergarten through high school.  The company's brands includes
Sylvan Learning Centers and Ivy West.


ELAN CORP: $203.5 Mil. Settlement Won't Affect S&P's 'B' Rating
---------------------------------------------------------------
Standard & Poor's Ratings Services said that Elan Corp. PLC's
(B/Positive/--) announcement on July 15, 2010, that it expects to
pay $203.5 million as part of a comprehensive settlement for all
U.S. federal and related state Medicaid claims relating to the
U.S. Department of Justice's investigation of sales and marketing
practices for Zonegran (divested in 2004) has no effect on its
ratings or outlook on the company.

While the settlement is relatively large for a 'B' rated company,
Elan has established a reserve of $206.3 million for the
settlement and related costs.  Following last year's sale of AIP
and the senior unsecured note issuance, which also extended debt
maturities, the company has adequate liquidity to absorb this
settlement.  At March 31, 2010, the company had $863 million of
cash on hand and has generated positive free cash flow in two of
the past three quarters.  While the company does have $300 million
of floating rate debt that matures in 2011, the expected
separation of EDT could provide additional liquidity to support
that maturity.  Should the separation of EDT not occur, S&P still
expects Elan to have sufficient cash on hand at that time to meet
the maturity.


EMERSON OVERLOOK: Court Fixes August 31 as Claims Bar Date
----------------------------------------------------------
The Hon. James E. Massey of the U.S. Bankruptcy Court for the
Northern District of Georgia established August 31, 2010, as the
last day for any individual or entity to file proofs of claim
against Emerson Overlook, LLC.

Proofs of claim or interest must be filed with:

     Clerk, U.S. Bankruptcy Court
     1340 U. S. Courthouse
     75 Spring Street, S.W.
     Atlanta, GA 30303-3367

Marietta, Georgia-based Emerson Overlook, LLC, filed for Chapter
11 bankruptcy protection on January 4, 2010 (Bankr. N.D. Ga. Case
No. 10-60282).  Todd E. Hennings, Esq., and William A. Rountree,
Esq., at Macey, Wilensky, Kessler & Hennings LLC, assist the
Company in its restructuring effort.  The Company listed
$10,000,001 to $50,000,000 in assets and liabilities in its
petition.


EPV SOLAR: Wins Nod to Sell Manufacturing Assets to Akart Enerji
----------------------------------------------------------------
The Hon. Michael B Kaplan of the U.S. Bankruptcy Court for the
District of New Jersey authorized EPV Solar, Inc., to sell
substantially all of its manufacturing assets to Akart Enerji
Yatirimlari A.S., or any of its affiliates, free and clear of
liens, claims, encumbrances, and interests.

The Debtor is represented by:

     Lowenstein Sandler PC
     Kenneth A. Rosen, Esq.
     S. Jason Teele, Esq.
     Timothy R. Wheeler, Esq.
     65 Livingston Avenue
     Roseland, NJ 07068
     Tel: (973) 597-2500
     Fax: (973) 597-2400

Robbinsville, New Jersey-based EPV Solar, Inc., fka Energy
Photovoltaics, Inc., filed for Chapter 11 bankruptcy protection on
February 24, 2010 (Bankr. D. N.J. Case No. 10-15173).  The Company
estimated its assets and its debts at $50,000,001 to $100,000,000
as of the Petition Date.


EPV SOLAR: Has Until August 23 to File Reorganization Plan
----------------------------------------------------------
The Hon. Michael B Kaplan of the U.S. Bankruptcy Court for the
District of New Jersey extended EPV Solar, Inc.'s exclusive
periods to file and solicit acceptances for the proposed plan of
reorganization until August 23, 2010, and October 22,
respectively.

Robbinsville, New Jersey-based EPV Solar, Inc., fka Energy
Photovoltaics, Inc., filed for Chapter 11 bankruptcy protection on
February 24, 2010 (Bankr. D. N.J. Case No. 10-15173).  Kenneth
Rosen, Esq., and Samuel Jason Teele, Esq., at Lowenstein Sandler
PC, assist the Company in its restructuring effort.  The Company
estimated its assets and its debts at $50,000,001 to $100,000,000.


EQUIPMENT ACQUISITION: Wins Approval of Liquidation Plan
--------------------------------------------------------
Dawn McCarty at Bloomberg News reports that Equipment Acquisition
Resources Inc. won approval of its bankruptcy liquidation plan.

Bloomberg relates that Chief Restructuring Officer William Brandt
Jr., of the turnaround firm Development Specialists Inc., said in
an interview after the bankruptcy filing that he discovered the
company was a Ponzi scheme that wiped out as much as $175 million
in borrowed funds by paying earlier lenders with proceeds from
newer ones.

According to the report, Mr. Brandt, who will serve as the plan
administrator, will oversee the liquidation of all remaining
assets and distributions to creditors.  He will have the authority
to settle litigation claims as well as pursue litigation claims
against third parties.

                  About Equipment Acquisition

Palatine, Illinois-based Equipment Acquisition Resources, Inc.,
was a market maker in semiconductor manufacturing equipment sales
and servicing.  It owns 2000 pieces of semiconductor manufacturing
equipment and was engaged in fraudulent activity.

Equipment Acquisition filed for Chapter 11 bankruptcy protection
on October 23, 2009 (Bankr. N.D. Ill. Case No. 09-39937).  Barry
A. Chatz, Esq., at Arnstein & Lehr LLP, assists the Company in its
restructuring efforts.

The Company listed $10,000,001 to $50,000,000 in assets and
$100,000,001 to $500,000,000 in liabilities in its petition.
Unsecured creditors are owed about $102 million, according to
court papers.

The Company has been facing allegations of being a Ponzi scheme.
First Premier Capital LLC, claiming to be owed $20 million,
alleged that that the scheme has cost creditors up to
$175 million.

The Company is now being managed by William Brandt, as chief
restructuring officer.  Mr. Brandt was hired in October when the
officers and directors resigned.


EXTENDED STAY: Courts Confirms Chapter 11 Exit Plan
---------------------------------------------------
U.S. Bankruptcy Judge James Peck has signed off on Extended Stay
Inc.'s plan to restructure itself by selling substantially all its
assets to a private equity team, according to Bankruptcy Law360.

The Plan for ESI's debtor affiliates is hinged on the
$3.925 billion sale of the business to a group formed by
Centerbridge Partners, Paulson & Co., and Blackstone Real Estate
Associates VI L.P.

The Centerbridge group was selected as the winning bidder at a
May 27, 2010 auction, beating out another bidder led by Starwood
Capital Group and TPG by less than $40 million.  Centerbridge
offered to pay about $3.925 billion in cash and to contribute
certificates representing interests in a pre-bankruptcy
$4.1 billion mortgage loan for the equity of ESI's debtor
affiliates.

                        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).


FIDELITY PROPERTIES: Wants Professionals OK'd Before Filing Plan
----------------------------------------------------------------
Fidelity Properties Group, LLC, asks the U.S. Bankruptcy Court for
the Middle District of Florida to extend its exclusive period to
file, and solicit acceptances for, a proposed Chapter 11 plan by
60 days.

The Debtor is seeking to have the case substantively consolidated
with the case of Global Associates International Group, Inc.

In addition, the Debtor is still awaiting the employment approval
of professionals who will assist in the case.

                About Fidelity Properties Group LLC

Orlando, Florida-based Fidelity Properties Group LLC filed for
Chapter 11 bankruptcy protection on April 1, 2010 (Bankr. M.D.
Fla. Case No. 10-05510).  Lawrence M. Kosto, Esq., Kosto & Rotella
PA, assists the Company in its restructuring effort.


FOOD SHARE: Financial Problem Prompts Chapter 11 Filing
-------------------------------------------------------
KKTV.com reports that Food Share America filed for bankruptcy
under Chapter 11 after a bank stopped providing more credit.  The
filing came after Food Share canceled its latest distribution of
discount groceries and all future orders.

According to person familiar with the matter, the company as more
than $100,000 in bounced checks.

Food Share America serves communities in Colorado, Kansas,
Louisiana, Missouri, Nebraska, New Mexico, Oklahoma, South Dakota,
Texas and Wyoming.


GARLOCK SEALING: Gets OK for Del Sole as Litigation Counsel
-----------------------------------------------------------
Garlock Sealing Technologies LLC and its units received authority
from the U.S. Bankruptcy Court for the Western District of North
Carolina to employ Del Sole Cavanaugh Stroyd LLC as their special
litigation counsel, nunc pro tunc to the Petition Date.

DSCS has represented the Debtors as local counsel in the Chapter
11 case of Pittsburg Corning Corporation pending before the U.S.
Bankruptcy Court for the Western District of Pennsylvania.

Specifically, before the Petition Date, DSCS was engaged to serve
as co-counsel with Robinson Bradshaw & Hinson in connection with
Garlock Sealing Technologies LLC's objections to Pittsburg
Corning's reorganization plan.  A trial with respect these
objections were scheduled to commence between June 1 and 11, 2010.

As the Debtors' special litigation counsel, DSCS' services to the
Debtors will include representation of the Debtors in the
Pittsburgh Corning bankruptcy case, and any other legal disputes
or litigation pending before the Commonwealth of Pennsylvania and
the U.S. District Court for the Western District of Pennsylvania.

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

       Title                         Rate per Hour
       -----                         -------------
       Partners                       $295 to $350
       Associates and Counsel         $210 to $250
       Paralegals                      $95 to $130

Specific DSCS' professionals to render services to the Debtors
are:

  Name                  Title               Rate per Hour
  ----                  -----               -------------
Arthur H. Stroyd, Jr.   Partner                 $350
Stephen Del Sole        Partner                 $295
Patrick Cavanaugh       Partner                 $295
Richard Swanson         Associate               $250
William Stickman        Associate               $210
Monisha Still           Paralegal               $125

The Debtors will also reimburse DCSC for expenses incurred.

In the 12 months before the Petition Date, DSCS received payments
from the Debtors for services rendered for $12,369.  The Debtors
have also paid DSCS a retainer to secure the payment of fees
before the Petition Date.

Arthur H. Stroyd, Jr., Esq., at Del Sole Cavanaugh Stroyd LLC --
astroyd@dscslaw.com -- relates that DSCS formerly represented or
currently represents Bank of America, a creditor to the Debtors,
and its related companies in a negligence action involving an
alleged mistaken foreclosure on residential property before the
Court of Common Pleas of Allegheny County, Pennsylvania.

However, Mr. Stroyd maintains that DSCS is a "disinterested
person" as the term is defined under Section 101(14) of the
Bankruptcy Code.

                      About Garlock Sealing

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

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

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

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

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


GARLOCK SEALING: Robinson Bradshaw as Special Counsel Approved
--------------------------------------------------------------
Garlock Sealing Technologies LLC and its units received the U.S.
Bankruptcy Court's permission to employ Robinson, Bradshaw &
Hinson, P.A., as their special counsel, nunc pro tunc to June 5,
2010.

Robinson Bradshaw has represented and advised the Debtors as
general asbestos counsel for over eight years.  Robinson Bradshaw
has represented and advised EnPro Industries, Inc. and Coltec
Industries as outside general corporate counsel for the same time
period.

As the Debtors' special counsel, Robinson Bradshaw's services will
include all matters related to asbestos claims against the
Debtors, including:

  (a) assisting and advising the Debtors relative to matters in
      the administration of their estates to the extent related
      to the Asbestos Claims;

  (b) representing the Debtors at hearings to be held before
      the Court related to the Asbestos Claims and communicating
      with the Debtors regarding the matters and issues raised
      and the decisions and actions of the Court;

  (c) reviewing, analyzing, or drafting applications, orders,
      operating reports, schedules and statements filed with
      the Court by the Debtors or other interested parties in
      the Chapter 11 cases to the extent related to the
      Asbestos Claims, and advising the Debtors as to the
      necessity and propriety of these documents and their
      impact on the Asbestos Claims;

  (d) assisting the Debtors in preparing appropriate legal
      pleadings, motions, adversary proceedings, proposed
      orders, and other related documents as may be required in
      support of positions taken by the Debtors relative to the
      Asbestos Claims;

  (e) assisting the Debtors in negotiations and other
      communications related to the Asbestos Claims, whether
      with the Official Committee of Asbestos Personal Injury
      Claimants, any legal representative appointed to represent
      the interests of holders of asbestos claim demands, any
      Asbestos Claimants or their representatives, or any other
      person;

  (f) assisting and advising the Debtors regarding notices and
      other communications to Asbestos Claimants, holders of
      Demands, and their lawyers and representatives regarding
      any motions, applications, or adversary proceedings filed
      by the Debtors or the Debtors' efforts, progress and
      recommendations respecting matters arising in the Chapter
      11 cases as well as any proposed plan of reorganization;

  (g) assisting the Debtors in drafting and preparing any plan
      of reorganization, disclosure statement, or related
      documents to the extent that those documents address
      the Asbestos Claims, and the solicitation and filing with
      the Court of acceptances or rejections of any proposed
      plan or plans of reorganization by holders of the Asbestos
      Claims and Demands;

  (h) assisting, advising and taking action for the Debtors
      relating to any insurance policy that addresses, or might
      address, any Debtor's losses associated with the Asbestos
      Claims;

  (i) assisting, advising and taking action for the Debtors
      relating to any bar date for the filing of the Asbestos
      Claims, the allowance of any Asbestos Claim or Asbestos
      Claims, or estimation of any Debtor's liability for the
      Asbestos Claims or Demands;

  (j) representing the Debtors in any adversary proceeding for
      injunctive relief protecting, during the pendency of the
      Chapter 11 cases, the Debtors, their affiliates,
      employees, representatives, insurers, and other protected
      persons, and the insurance and other property of the
      Debtors' estates from the continuation of litigation
      related to any Asbestos Claims or Demands;

  (k) assisting, advising and taking action for the Debtors
      concerning the establishment of a trust under Section
      524(g) of the Bankruptcy Code and issuance of a permanent
      injunction pursuant to Section 524(g) channeling the
      Asbestos Claims and Demands to that 524(g) Trust for
      processing and payment and enjoining the holders of
      Asbestos Claims and Demands from asserting any claim
      against the Debtors, their affiliates and other persons
      entitled to protection under the Bankruptcy Code;

  (l) assisting, advising and taking action for the Debtors
      related to any adversary proceeding or contested action
      against any other person or entity, including any Asbestos
      Claimant or that claimant's representatives, who may have
      some liability to the Debtors related to the Asbestos
      Claims, including any proceeding against that person who
      has participated in the fraudulent or negligent
      misstatement of material facts or concealment of material
      evidence in connection with the assertion against any
      Debtor of an Asbestos Claim; and

  (m) otherwise assisting, advising and taking action for the
      Debtors concerning matters and dealings with persons or
      their representatives that have made or may make the
      Asbestos Claims or Demands, including matters and dealings
      with the Official Committee of Unsecured Creditors.

Robinson Bradshaw will also advise the Debtors in matters of
taxation, including those matters related to the Asbestos Claims
or Demands and any trust established pursuant to the
Bankruptcy Code. Robin Bradshaw will further represent and advise
the Debtors with respect to corporate financing, including the
establishment of credit facilities, amendments, and
modifications.

The Debtors will pay Robinson Bradshaw's professionals according
to their customary hourly rates:

       Title                    Rate per Hour
       -----                    -------------
       Shareholders              $295 to $550
       Counsel                   $305 to $475
       Associates                $185 to $350
       Legal Assistants          $125 to $170

The professionals proposed to represent the Debtors are:

  Name                   Title          Rate per Hour
  ----                   -----          -------------
Garland S. Cassada     Shareholder          $500
Herman Spence          Shareholder          $440
Stephen M. Lynch       Shareholder          $430
Stuart H. Johnson      Shareholder          $380
Matthew S. Churchill   Shareholder          $355
William W. Toole       Shareholder          $370
Jonathan C. Krisko     Associate            $280
Carl S. Beattie        Associate            $250
Jonathan R. Eide       Associate            $220
Richard C. Worf        Associate            $220
Ty E. Shaffer          Associate            $200
James Cass             Associate            $185
Satyra L. Riggins      Legal assistant      $155

The Debtors will also reimburse Robinson Bradshaw for expenses
incurred.

The Debtors disclose that their obligations to Robinson Bradshaw
are current on prepetition services rendered.  In the 12 months
before the Petition Date, Robinson Bradshaw received payments
from the Debtors aggregating $1,514,530.

Mr. Cassada relates that Robinson Bradshaw had represented in the
past and may in the future represent certain parties, in matters
unrelated to the Debtors' Chapter 11 cases.  In addition, he
notes that certain professionals of Robinson Bradshaw own equity
or debt securities in significant creditors of the Debtors,
namely:

  * EnPro Industries, Inc.
  * Bank of America Corporation
  * Wells Fargo & Company
  * SunTrust Banks, Inc.

As of April 26, 2010, Robert S. McLean, a former shareholder of
Robinson Bradshaw, became employed by EnPro as vice president,
legal.  Mr. McLean has not been involved in any of the matters
for which Robinson Bradshaw seeks employment, and none of the
matters for which RBH seeks employment will fall directly within
his duties as an employee at EnPro, Mr. Cassada assures the
Court.

Mr. Cassada maintains that Robinson Bradshaw is a "disinterested
person" as that term is defined under Section 101(14) of the
Bankruptcy Code.

                      About Garlock Sealing

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

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

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

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

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


GARLOCK SEALING: Has Nod for Rayburn Cooper as Bankruptcy Counsel
-----------------------------------------------------------------
Garlock Sealing Technologies LLC and its units received the U.S.
Bankruptcy Court's permission to employ Rayburn Cooper & Durham,
P.A., as their counsel, nunc pro tunc to June 5, 2010.

As the Debtors' counsel, Rayburn Cooper will render services,
including:

  (a) to provide the Debtors legal advice with respect to their
      powers and duties as debtors-in-possession in the
      continued operation of its business and management of
      their properties;

  (b) to assist in taking all necessary action to protect and
      preserve the Debtors' estates, including the prosecution
      of actions on the Debtors' behalf, the defense of any
      actions commenced against the Debtors, the negotiation of
      disputes in which the Debtors are involved, and the
      preparation of objections to claims filed against the
      Debtors' estates;

  (c) to prepare or assist in preparing on behalf of the Debtors
      all necessary schedules, statements, applications,
      answers, orders, reports, motions and notices in
      connection with the administration of the Debtors'
      estates;

  (d) to appear before the Court and other courts as may be
      appropriate to represent the interests of the Debtors in
      matters that require representation and to represent and
      assist the Debtors in negotiations with other parties-in-
      interests in the Debtors' Chapter 11cases;

  (e) to advise and assist in formulating and preparing of a
      plan of reorganization on behalf of the Debtors, the
      related disclosure statement, and any revisions,
      amendments relating to those documents, and all related
      materials; and

  (f) to perform other legal services for Debtors which may be
      necessary in the Debtors' Chapter 11  cases.

The Debtors will pay Rayburn Cooper's professionals according to
their customary hourly rates:

  Title                      Rate per Hour
  -----                      -------------
  Partners                   $260 to $600
  Associates                 $180 to $225
  Paraprofessionals          $125 to $150

The Debtors will also pay Rayburn Cooper's partners according to
their 2009 hourly rates.

Rayburn Cooper will be reimbursed for reasonable, out-of-pocket
expenses.

Albert F. Durham, Esq., a member at Rayburn Cooper, discloses that
a year before the Petition Date, his firm provided legal services
to the Debtors and has been paid $431,009 for services rendered
for the period from December 2009 through June 3, 2010.  Rayburn
Cooper also received an additional $518,749 from the Debtors which
it holds as a retainer for services to be rendered, including the
bankruptcy case filing fees totaling $3,117.  All of the payments
made to Rayburn Cooper before June 4, 2010, were from the
prepetition retainer received by the firm.

Mr. Durham further discloses that some of Rayburn Cooper's
attorneys may in the past have been associated with or been a
summer law clerk for other law firms that have appeared or may
appear in the Debtors' Chapter 11 cases.  However, those
relationships did not involve the Debtors, he says.  Neither
Rayburn Cooper nor any of its shareholders hold any direct equity
interest in the Debtors, he adds.  Thus, Rayburn Cooper is a
"disinterested person" as the term is defined under Section
101(14) of the Bankruptcy Code, he maintains.

In a related development, Rayburn Cooper filed with the Court a
disclosure of compensation, citing the $518,749 received from the
Debtors for postpetition fees and $431,009 for prepetition fees

                      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 OK to Hire Covington as Insurance Counsel
---------------------------------------------------------------
Garlock Sealing Technologies LLC and its units received the
Court's permission to employ Covington & Burling LLP as their
special insurance counsel, nunc pro tunc to June 5, 2010.

Covington has represented and advised the Debtors as insurance
coverage counsel for over a decade.

As the Debtors' insurance counsel, Covington will represent and
advise the Debtors in matters related to insurance coverage,
rights and obligations, particularly those matters which relate
to the resolution of asbestos claims against the Debtors.

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

     Title                    Rate per Hour
     -----                    -------------
     Attorneys                 $275 to $940
     Paralegals                $195 to $355

Specific Covington's professionals to render services to the
Debtors are:

                                          Full     Discounted
   Name                    Title           Rate        Rate
   ----                    -----           ----     ----------
William F. Greaney         Partner         $890        $757
Michael St. Patrick Baxter Partner         $775        $659
Charles Kitcher            Associate       $430        $366
Joshua D. McKarcher        Associate       $320        $272

The Debtors and Covington agree that those rates will be
discounted at 15%.

The Debtors will also reimburse Covington for expenses incurred.

Covington received a retainer from the Debtors on May 28, 2010.
A portion of the retainer has been applied to the payment of fees
and costs incurred prepetition.  In the 12 months before the
Petition Date, Covington received payments totaling $1,466,140
from the Debtors.  As of June 5, 2010, Covington has not rendered
postpetition services that have not yet been billed.

Mr. Greaney -- wgreaney@cov.com -- discloses that his firm in the
last two years:

(i) currently represents certain parties, a schedule of which
     is available for free at:

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

(ii) represented, but does not currently represent certain
     parties, a schedule of which is available for free at:

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

in matters unrelated to the Debtors' Chapter 11 cases.

Despite those disclosures, Covington is a "disinterested person"
as the term is defined under Section 101(14) of the Bankruptcy
Code, Mr. Greaney assures the Court.

                      About Garlock Sealing

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

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

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

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

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


GARY WOODS: Case Summary & 3 Largest Unsecured Creditors
--------------------------------------------------------
Joint Debtors: Gary A. Woods
               Karen E. Woods
               5960 S 135th St W
               Clearwater, KS 67026

Bankruptcy Case No.: 10-12397

Chapter 11 Petition Date: July 16, 2010

Court: United States Bankruptcy Court
       District of Kansas (Wichita)

Judge: Robert E. Nugent

Debtor's Counsel: J. Michael Morris, Esq.
                  301 N Main, Suite 1600
                  Wichita, KS 67202
                  Tel: (316) 267-0331
                  E-mail: jmmorris@kmazlaw.com

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

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

A list of the Joint Debtors' 3 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ksb10-12397.pdf

The petition was signed by the Joint Debtors.


GENERAL MOTORS: TARP Inspector Finds Fault in Rapid Dealer Cuts
---------------------------------------------------------------
Neil Barofsky, special inspector general for the Troubled Asset
Relief Program, said in an audit report that the U.S. Treasury's
request that General Motors Co. and Chrysler Group LLC speed up
the closing of U.S. dealerships may have contributed to job losses
and may have provided little benefit to the long-term viability of
the two automakers.

In February 2009, prior to filing for bankruptcy, as a condition
for further loans, Chrysler and GM were required by the Treasury
to submit restructuring plans.  The Treasury rejected the
automakers' reorganization plans in March 2009, in part citing a
"slow pace" for GM to scale back its dealer network.  In light of
the rejection and their intervening bankruptcies, GM and Chrysler
"significantly accelerated" their dealership termination
timetables, with Chrysler scrapping 789 dealerships by June 10,
2009, and GM announcing plans to wind down 1,454 dealerships by
October 2010.

He noted that job losses at terminated dealerships were
"apparently not a substantial factor" in the Treasury Auto Team's
decision to scrap the more gradual termination plan.  He added
that Treasury is not insulated from "its responsibility to the
broader economy" and should have kept in mind that one goal of the
loan agreements was to "preserve and promote jobs of American
workers employed directly by the automakers and subsidiaries and
in related industries."

Mr. Barofsky said the Treasury should have at least considered
whether the benefits of speeding up the closings outweighed costs
from a potential loss of tens of thousands of jobs.

"Such dramatic and accelerated dealership closings may not have
been necessary and underscores the need for Treasury to tread very
carefully when considering such decisions in the future,"
Mr. Barofsky concluded.

"This sobering report should serve as a wake-up call as to the
implications of politically orchestrated bailouts," Representative
Darrell Issa, a California Republican and ranking member on the
House Committee on Oversight and Government Reform, said in a
statement, according to Bloomberg News.

Bloomberg relates that Obama's Treasury Department, which has
spent $80.7 billion on auto assistance under the TARP program,
criticized the inspector's audit and said without government aid
both companies faced failure and possible liquidation.

A copy of Mr. Barofsky testimony before the Senate Committee on
Finance is available at:

          http://researcharchives.com/t/s?66d5

Pursuant to the Emergency Economic Stabilization Act of 2008, the
Office of the Special Inspector General for the Troubled Asset
Relief Program must report to Congress on its oversight activities
and compile certain specified data and information about the
operation of TARP.  A copy of the report submitted by SIGTARP to
Congress on July 21 is available for free at:

           http://researcharchives.com/t/s?66d3

                       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)


GEOLOGICAL TECHNOLOGIES: Case Summary & 20 Largest Unsec Creditors
------------------------------------------------------------------
Debtor: Geological Technologies, Inc.
        P.O. Box 70
        Falling Waters, WV 25419

Bankruptcy Case No.: 10-01448

Chapter 11 Petition Date: July 7, 2010

Court: United States Bankruptcy Court
       Northern District of West Virginia (Martinsburg)

Judge: BK Patrick M. Flatley

Debtor's Counsel: A. Carter Magee, Jr., Esq.
                  Magee Goldstein Lasky and Sayers, PC
                  P.O. Box 404
                  Roanoke, VA 24003
                  Tel: (540) 343-9800
                  Fax: (540) 343-9898
                  E-mail: cmagee@mglspc.com

Scheduled Assets: $4,760,606

Scheduled Debts: $8,738,805

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/wvnb10-01448.pdf

The petition was signed by Robert R. Adams, president.


GREGORY S MORRIS: U.S. Trustee Unable to Form Creditors Committee
-----------------------------------------------------------------
Roberta A. DeAngelis, acting U.S. Trustee for Region 3, notified
the U.S. Bankruptcy Court for the Western District of Pennsylvania
that she was unable to appoint an official committee of unsecured
creditors in the Chapter 11 case of Gregory S. Morris.

Ms. DeAngelis explained that there were insufficient indications
of willingness from the unsecured creditors to serve in the
committee.

Hollidaysburg, Pennsylvania-based Gregory S. Morris filed for
Chapter 11 bankruptcy protection on May 16, 2010 (Bankr. W.D. Pa.
Case No. 10-70574).  The Debtor estimated assets and debts at
$10,000,001 to $50,000,000.


HEAVY CONSTRUCTION: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Heavy Construction Lumber, Inc.
        380 Morgan Avenue
        Brooklyn, NY 11211

Bankruptcy Case No.: 10-46608

Chapter 11 Petition Date: July 13, 2010

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

Judge: Carla E. Craig

Debtor's Counsel: Dawn Kirby Arnold, Esq.
                    E-mail: darnold@rattetlaw.com
                  Erica R. Feynman, Esq.
                    E-mail: efeynman@rattetlaw.com
                  Rattet, Pasternak & Gordon Oliver LLP
                  550 Mamaroneck Avenue
                  Harrison, NY 10528
                  Tel: (914) 381-7400
                  Fax: (914) 381-7406

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 Roseann Giorgi, president.


INFOLOGIX INC: Nasdaq Grants Extension to Regain Compliance
-----------------------------------------------------------
InfoLogix Inc. received a letter from Nasdaq on July 8, 2010,
stating that a Nasdaq Hearings Panel granted the Company's request
for an extension of time, as permitted under Nasdaq's Listing
Rules, to regain compliance with the $2.5 million minimum
stockholders' equity requirement for continued listing on the
Nasdaq Stock Market.

Nasdaq notified the Company on April 20, 2010 that it had not
regained compliance with the minimum stockholders' equity
requirement and that the Company's common stock was subject to
delisting unless the Company requested a hearing.  The Company
timely requested a hearing and appeared before the Panel on June
10, 2010.

The extension granted by the Panel requires, among other things,
the occurrence of certain events by August 15, 2010 and the
Company's ability to regain compliance with all the requirements
for continued listing on Nasdaq by October 18, 2010.  Under
Nasdaq's Listing Rules, this date represents the maximum length
of time that a Panel may grant to regain compliance.  While the
Company is diligently taking steps to comply with the Panel
decision, there can be no assurances that the Company will be able
to do so.

                      About InfoLogix Inc.

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

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

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


INNKEEPERS USA: Asks for September 1 Extension for Schedules
------------------------------------------------------------
Innkeepers USA Trust and its 91 Debtor affiliates ask the Court to
extend until September 1, 2010, the deadline by which they must
file schedules of assets and liabilities, schedules of executory
contracts and unexpired leases, and statements of financial
affairs.

Pursuant to Section 521 of the Bankruptcy Code and Rule 1007(c) of
the Federal Rules of Bankruptcy Procedure, the Debtors ordinarily
would be required to file the Schedules and Statements within 14
days after the Petition Date.

The Debtors estimate they have more than 5,000 potential creditors
and other parties-in-interest.  Further, the conduct and operation
of the Debtors' business operations require them to maintain
voluminous records and complex accounting systems, relates James
H.M. Sprayregen, P.C., Esq., at Kirkland & Ellis LLP, in New York.

Due to the nature of the Debtors' business, the pressure incident
to the commencement of the Chapter 11 cases, and the fact that
certain prepetition invoices have not yet been received or entered
into the financial accounting system, the Debtors have begun, but
have not yet completed, compiling the information required to
complete the Schedules and Statements, Mr. Sprayregen explains.
Because of the complexity and diversity of their operations and
the numerous critical operational matters that their accounting
and legal personnel must address in the early days of the cases,
the Debtors anticipate they will be unable to complete the
Schedules and Statements in the time required under Rule 1007(c).

Adding to the difficulties in compiling the Schedules and
Statements is the nature of the Debtors' business, which consists
of operating 72 individual hotel properties scattered across 19
states and the District of Columbia, among the Debtor entities,
Mr. Sprayregen asserts.  He points out that while the Debtors'
consolidated ownership and management of the 72 properties allows
them to benefit from economies of scale by eliminating many of the
duplicative processes and costs that would otherwise apply to
properties owned and managed on an individual basis, it also comes
with its own burdens, especially with respect to compiling the
Schedules and Statements.

The substantial size, scope and complexity of the cases and the
volume of material that must be compiled and reviewed by the
Debtors' personnel to complete the Schedules and Statements for
each entity during the initial days of the cases provides ample
cause for justifying the requested extension, Mr. Sprayregen
further contends.

                   About Innkeepers USA Trust

Innkeepers USA Trust is a self-administered Maryland real estate
investment trust with a primary business focus on acquiring
premium-branded upscale extended-stay, mid-priced limited service,
and select-service hotels.

Innkeepers, through its indirect subsidiaries, owns and operates
an expansive portfolio of 72 upscale and mid-priced extended-stay
and select-service hotels, consisting of approximately 10,000
rooms, located in 20 states across the United States.

Apollo Investment Corporation acquired Innkeepers in June 2007.

Innkeepers USA Trust and a number of affilaites filed for Chapter
11 on July 19, 2010 (Bankr. S.D.N.Y. Case No. 10-13800).

Attorneys at Kirkland & Ellis LLP, serve as counsel to the
Debtors.  AlixPartners is the restructuring advisor and Marc A.
Beilinson is the chief restructuring officer.  Moelis & Company is
the financial advisor.  Omni Management Group, LLC, is the claims
and notice agent. The petition listed assets and debts of more
than $1 billion.

In 2009, Innkeepers' consolidated revenues were approximately
$292 million and adjusted EBITDA were approximately $85 million.
The Company's consolidated assets for 2009 totaled approximately
$1.5 billion.  As of July 19, 2010, the Company and its affiliates
have incurred approximately $1.29 billion of secured debt.

Bankruptcy Creditors' Service, Inc., publishes Innkeepers USA
Bankruptcy News.  The newsletter tracks the chapter 11
restructuring proceedings commenced by Innkeepers USA Trust and
its affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000).


INNKEEPERS USA: Cash Shortage, Debt Burden Prompted Filing
----------------------------------------------------------
Dennis Craven, chief financial officer, treasurer and vice
president of Innkeepers USA Trust, relates that although the
Companies' business model is sound, their operating losses from
decreased room revenue, significant liquidity constraints, and
considerable funded debt burden, resulting from unprecedented
adverse changes in the economy and hospitality industry generally,
have impaired their ability to meet their current debt obligations
and certain current obligations under their Franchise Agreements.

Moreover, over the last two years, the global travel and tourism
industry has faced one of the most difficult operating
environments in a number of decades due to the unparalleled
turmoil that beset the global and United States economies, Mr.
Craven notes.  A weak economy and plummeting demand for hotel
accommodations, which can be traced to reduced consumer spending,
higher fuel prices, increased unemployment, and a severe decline
in business travel, have caused one of the deepest and longest
recessions in the history of the hospitality and lodging
industries, he avers.  During this time, he adds, supply also
increased within the hospitality industry, exacerbating the
negative impact of decreased demand within the industry.

Mr. Craven further relates that in addition to reducing overall
demand and significantly impairing the Companies' overall revenue,
the rapid softening of the economy and tightening of the financial
markets have limited their financial flexibility.  As a result,
the Companies have no real ability to recapitalize or reduce their
debt burdens.  Strategies that the Companies might have previously
employed to extend maturities and maintain liquidity are no longer
available, Mr. Craven points out.  These adverse changes have
severely limited the Companies' ability to satisfy their
obligations as they come due, he says.

In addition to placing a burden on the Companies' ability to meet
debt service obligations and fund day-to-day business operations,
the lack of available cash made it impossible for them to
sufficiently fund capital expenditures on hotel properties
necessary to comply with their obligations under the Franchise
Agreements, according to Mr. Craven.  Certain of the Franchise
Agreements include provisions that require the Companies to comply
with property improvement programs under which they are obligated
to perform certain renovations and other capital improvements to
their hotel properties, such as replacing furniture, fixtures, and
equipment.  While necessary, the required PIP improvements are
costly, subject to delays, and disrupt operations and displace
revenue at the hotels while rooms under renovation are out of
service, he states.

As of July 19, 2010, the Companies have approximately $15.8
million earmarked to perform certain PIP obligations and intend to
commence those obligations as they continue to operate their
business under the protection of the bankruptcy process.  But,
this amount is significantly less than the amount required to
satisfy all their PIP obligations under the Franchise Agreements,
Mr. Craven says.

The Companies begun restructuring negotiations in November 2008
and, as a first step, hired Marc Beilinson, an independent
director of Innkeepers since 2007, as chief restructuring officer
to explore alternative restructuring opportunities.  In early
2010, the Companies retained Kirkland & Ellis LLP and Moelis & Co.
LLC to initiate discussions with the Companies' constituents
regarding a possible comprehensive restructuring and financial
alternatives for improving their balance sheet.

The Debtor's list of five largest secured creditors has LB-UBS
Commercial Mortgage Trust 2007-C6 with a $412,107,271 claim and
Lehman ALI Inc. with claims of $238,451,891 and $128,575,861.

                   About Innkeepers USA Trust

Innkeepers USA Trust is a self-administered Maryland real estate
investment trust with a primary business focus on acquiring
premium-branded upscale extended-stay, mid-priced limited service,
and select-service hotels.

Innkeepers, through its indirect subsidiaries, owns and operates
an expansive portfolio of 72 upscale and mid-priced extended-stay
and select-service hotels, consisting of approximately 10,000
rooms, located in 20 states across the United States.

Apollo Investment Corporation acquired Innkeepers in June 2007.

Innkeepers USA Trust and a number of affilaites filed for Chapter
11 on July 19, 2010 (Bankr. S.D.N.Y. Case No. 10-13800).

Attorneys at Kirkland & Ellis LLP, serve as counsel to the
Debtors.  AlixPartners is the restructuring advisor and Marc A.
Beilinson is the chief restructuring officer.  Moelis & Company is
the financial advisor.  Omni Management Group, LLC, is the claims
and notice agent. The petition listed assets and debts of more
than $1 billion.

In 2009, Innkeepers' consolidated revenues were approximately
$292 million and adjusted EBITDA were approximately $85 million.
The Company's consolidated assets for 2009 totaled approximately
$1.5 billion.  As of July 19, 2010, the Company and its affiliates
have incurred approximately $1.29 billion of secured debt.

Bankruptcy Creditors' Service, Inc., publishes Innkeepers USA
Bankruptcy News.  The newsletter tracks the chapter 11
restructuring proceedings commenced by Innkeepers USA Trust and
its affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000).


INNKEEPERS USA: Proposes to Assume Plan Support Agreement
---------------------------------------------------------
Innkeepers USA Trust and its 91 Debtor affiliates seek authority
from Judge Shelley Chapman of the United States Bankruptcy Court
for the Southern District of New York to assume the plan support
agreement they entered into with Lehman ALI, Inc.

The Plan Support Agreement, according to the Debtors, represents a
significant achievement for them because it provides for their
comprehensive restructuring, including a significant deleveraging
of their balance sheet and permits them to maintain valuable hotel
franchise agreements and their existing portfolio of hotel
properties.

The Plan Term Sheet contemplates, among other things, these terms:

  (a) entry into two proposed postpetition debtor-in-possession
      financing facilities consisting of the (a) $50.75 million
      DIP Facility provided by Five Mile Capital Partners LLC,
      which proceeds will be used primarily to perform property
      improvement programs on certain hotels securing the
      Debtors' obligations under the Fixed Rate Debt; and (b)
      approximately $17.5 million DIP Facility provided by an
      affiliate of Lehman, which will be used to perform PIPs
      and certain other investments on certain hotels securing
      the Debtors' obligations under the Floating Rate Mortgage
      Loan Agreement;

  (b) Lehman receiving, in full and final satisfaction of its
      approximately $238 million secured claim with respect to
      the Floating Rate Mortgage Loan Agreement, 100% of the new
      shares of common stock issued by the Debtors pursuant to
      the Plan, subject to dilution by a management equity
      incentive program;

  (c) the remaining secured lenders under the Debtors'
      prepetition credit facilities receiving new secured
      mortgage notes with a value that is no less than the value
      of the collateral securing their respective prepetition
      debt, unless the lenders of those facilities otherwise
      agree (subject to the lenders' right to make an election
      for application of Section 1111(b)(2) of the Bankruptcy
      Code);

  (d) holders of general unsecured claims (other than holders of
      deficiency claims under the prepetition credit facilities,
      which will receive no recovery unless Lehman and the
      Debtors agree otherwise) in a class that votes to accept
      the Plan and affirmatively release Lehman and its
      affiliates from all claims and causes of action relating
      to the Debtors and/or the Floating Rate Debt, receiving a
      pro rata distribution of cash in the amount of $500,000;

  (e) holders of interests in the Debtors, including common and
      preferred stock, receiving no distributions on account of
      those interests, with those interests being cancelled;

  (f) customary, consensual releases of liability by the Debtors
      in favor of Lehman, it s affiliates, and, among others,
      their respective principals, employees, agents, officers,
      directors, and professionals;

  (g) entry into an Agreement for Adequate Assurance of Future
      Completion of Certain PIPs and Assumption of Agreements
      with Marriott International, Inc., the franchisor with
      whom 44 of the Debtors' 72 hotels have entered into
      franchise agreements, which memorializes the agreements
      reached with Marriott relating to certain of the Debtors'
      franchise agreement obligations; and

  (h) the Debtors securing additional funding of no less than
      $75 million upon exit from Chapter 11.

In addition, to convince Lehman to agree to make the extraordinary
concessions under the Plan, Lehman required the Debtors to agree
to certain provisions in the Plan Support
Agreement and the Plan Term Sheet relating to the termination of
the Plan Support Agreement that take effect if the Debtors are
unable to confirm a plan consistent with the Plan Term Sheet with
the consent of the Debtors' constituents after recognizing those
concessions or over the objection of the constituents in
accordance with the bankruptcy process.

The Plan Support Agreement also provides that it will
automatically terminate on the first calendar day immediately
following one business day after the date of the occurrence of any
Termination Event, unless there is a written waiver of any
Termination Event within one business day from the date of the
Termination Event.

The Plan Support Agreement also requires the Debtors to meet
certain Plan Milestones and other milestones requiring (i) the
Debtors to pursue a restructuring and plan process diligently and
consistent with an agreed upon schedule and (ii) Lehman to
consummate a transaction with respect to the sale of 50% of the
New Equity.

James H.M. Sprayregen, P.C., Esq., at Kirkland & Ellis LLP, in New
York -- james.sprayregen@kirkland.com -- relates that Lehman's
willingness to enter into the Plan Support Agreement is
conditioned on, among other provisions, its ability to sell a
portion of its distribution of New Equity to a third party on or
after the effective date of the Debtors' confirmed Chapter 11 plan
of reorganization, allowing Lehman, which is also in bankruptcy,
to liquidate a portion of its plan distributions of New Equity to
mitigate the risk of its entire recovery coming in the form of
equity.  He adds that Lehman's willingness to support the proposed
restructuring and to convert its debt to equity, which is
necessary to deleverage the Debtors' balance sheet and provide
comfort to the Debtors' franchisors that the reorganized Debtors
will have a sustainable capital structure, is conditioned on the
Debtors' retention of their franchise agreements, which is
facilitated by Marriott's forbearance with respect to critical
hotel properties.

Marriott's willingness to enter into the Marriott Adequate
Assurance Agreement, pursuant to which it has agreed to forbear
from seeking to exercise its potential rights to terminate its
franchise agreements with the Debtors is conditioned on the
Debtors' procurement of the DIP Financing, the proceeds of which
will be used to fund deferred PIP renovations at critical
Marriott-branded hotels, Mr. Sprayregen further relates.  In turn,
the DIP Financing is conditioned on Marriott's willingness to
support the proposed transaction and to forbear from de-flagging
any of the Debtors' properties, as well as Lehman's commitment to
support an expeditious restructuring process.

A full-text copy of the Plan Support Agreement is available for
free at http://bankrupt.com/misc/iku_plansupport.pdf

A full-text copy of the Plan Term Sheet is available for free
at http://bankrupt.com/misc/ikutermsheet.pdf

                      Plan Support Agreement

The prepetition restructuring negotiations resulted to a plan
support agreement signed on July 17, 2010, by Innkeepers USA Trust
and Lehman ALI.  The Plan Support Agreement provides for these
salient terms:

  (a) Lehman will receive, in full and final satisfaction of its
      secured mortgage claims in respect of the Floating Rate
      Debt, 100% of the issued and outstanding new shares of
      common stock issued by Innkeepers, subject to dilution by
      the Management Equity Incentive Program and New Equity
      distributions, if any, for other Plan uses, as agreed by
      the parties hereto.

  (b) The Mezzanine Debt will be deemed cancelled, and the
      Mezzanine Lender will not retain any property or interest
      on account of that debt under the Plan.  The Mezzanine
      Lender will be deemed to vote against the Plan.  No action
      by the Mezzanine Lender will be required under the Plan
      Term Sheet or any definitive documentation with respect to
      the terms set herein.

  (c) Holders of the claims against the Company for its
      obligations under the Fixed Rate Debt Mortgage Loan
      Agreement will receive, in full and final satisfaction of
      their claims in respect of that debt, new mortgage notes
      secured by mortgages on the Fixed Rate Collateral either
      (a) in an aggregate face amount not to exceed
      $550 million; or (b) if the holders make an election for
      application of Section 1111(b)(2) of the Bankruptcy Code,
      in the amount of the aggregate amount of those holders'
      Fixed Rate Debt, with a present value of the new mortgage
      notes not to exceed $550 million.  The terms of the new
      Fixed Rate Debt notes and any security interests to be
      granted in connection therewith are subject to approval,
      in form and substance, by Lehman and the Company.

  (d) Holders of claims against the Company for its obligations
      under the secured mortgage loan agreements, excluding the
      Floating Rate Debt or the Fixed Rate Debt, will receive,
      in full and final satisfaction of their claims in respect
      of those debt, new mortgage notes secured by liens on the
      respective holder's Other Secured Debt Collateral either
      (a) in an aggregate face amount not to exceed
      $150 million; or (b) if a holder of Other Secured Debt
      claims makes an election for application of Section
      1111(b)(2) of the Bankruptcy Code, in the amount of the
      aggregate amount of that holder's claims, with present value
      of the Other Secured Debt New Mortgage Note equaling the
      value of the collateral securing that holder's claims,
      provided, however, that the aggregate present value of all
      Other Secured Debt New Mortgage Notes issued pursuant to (a)
      and (b) will not exceed $150 million.  The terms of the
      Other Secured Debt New Mortgage Notes are subject to
      approval, in form and substance, by Lehman and the Company.
      Debt allocation among the Other Secured Debt Collateral and
      identification of any Other Secured Debt Collateral that
      should be removed from the Company's portfolio will be
      agreed among the parties hereto.

  (e) "General Unsecured Claim" refer to any unsecured claim
      against any of the Debtors that is not: (a) an
      Administrative Claim; (b) a Priority Claim, tax or
      otherwise; (c) an intercompany claim; or (d) a Section
      510(b) claim, if any.  If a class of General Unsecured
      Claims votes to accept the Plan and affirmatively release
      Lehman and its affiliates from all claims and causes of
      action relating to the Company and the Floating Rate Debt,
      then holders of those General Unsecured Claims will
      receive a pro rata distribution of cash in the amount of
      $500,000.

  (f) Intercompany claims will not be entitled to receive any
      distribution under the Plan on account of those claims and
      will be deemed to have voted against the Plan.  Those
      claims will be reinstated, extinguished or cancelled as
      appropriate in the judgment of Lehman and the Company to
      effectuate the Transaction contemplated by the Plan.

  (g) Claims subject to subordination pursuant to Section 510(b)
      of the Bankruptcy Code will not receive any recovery under
      the Plan and will be deemed to have voted against the
      Plan.

  (h) Unsecured deficiency claims of holders of Floating Rate
      Debt, Fixed Rate Debt and Other Secured Debt will not
      receive any recovery under the Plan or otherwise without
      the consent of Lehman and the Company, and, if not
      receiving any recovery, will be deemed to have voted
      against the Plan.

  (i) Allowed administrative claims will be paid in cash in the
      ordinary course unless the holders of those Administrative
      Claims agree to different treatment.

  (j) Priority Claims Allowed priority claims will be paid in
      cash on the Plan Effective Date; provided, that on the
      Effective Date, Lehman and the Company may determine to
      defer priority tax claims in accordance with the
      Bankruptcy Code.

  (k) On the Plan Effective Date, all prepetition common and
      preferred shares of Innkeepers will be cancelled, and
      holders of those interests will not retain any property on
      account of those interests under the Plan.  To the extent
      Lehman and the Company determine that the Company's
      existing corporate structure would be the most tax
      efficient for Lehman and the Company on the Effective
      Date, the prepetition equity interests of each of
      Innkeepers' subsidiaries will be deemed reissued in
      accordance with the Company's prepetition corporate
      structure on terms mutually acceptable to the parties
      hereto.  If Lehman and the Company determine that a
      different structure would be more beneficial to Lehman and
      the Company on the Effective Date, the Plan will provide
      for that structure, on terms mutually acceptable to the
      relevant parties.

A full-text copy of the Plan Support Agreement is available for
free at http://bankrupt.com/misc/iku_plansupport.pdf

A full-text copy of the Plan Term Sheet is available for free
at http://bankrupt.com/misc/ikutermsheet.pdf

                   About Innkeepers USA Trust

Innkeepers USA Trust is a self-administered Maryland real estate
investment trust with a primary business focus on acquiring
premium-branded upscale extended-stay, mid-priced limited service,
and select-service hotels.

Innkeepers, through its indirect subsidiaries, owns and operates
an expansive portfolio of 72 upscale and mid-priced extended-stay
and select-service hotels, consisting of approximately 10,000
rooms, located in 20 states across the United States.

Apollo Investment Corporation acquired Innkeepers in June 2007.

Innkeepers USA Trust and a number of affilaites filed for Chapter
11 on July 19, 2010 (Bankr. S.D.N.Y. Case No. 10-13800).

Attorneys at Kirkland & Ellis LLP, serve as counsel to the
Debtors.  AlixPartners is the restructuring advisor and Marc A.
Beilinson is the chief restructuring officer.  Moelis & Company is
the financial advisor.  Omni Management Group, LLC, is the claims
and notice agent. The petition listed assets and debts of more
than $1 billion.

In 2009, Innkeepers' consolidated revenues were approximately
$292 million and adjusted EBITDA were approximately $85 million.
The Company's consolidated assets for 2009 totaled approximately
$1.5 billion.  As of July 19, 2010, the Company and its affiliates
have incurred approximately $1.29 billion of secured debt.

Bankruptcy Creditors' Service, Inc., publishes Innkeepers USA
Bankruptcy News.  The newsletter tracks the chapter 11
restructuring proceedings commenced by Innkeepers USA Trust and
its affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000).


JAMESTOWN STAMP: Case Summary & 18 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Jamestown Stamp Company
        341 East Third Street
        Jamestown, NY 14701

Bankruptcy Case No.: 10-13118

Chapter 11 Petition Date: July 16, 2010

Court: United States Bankruptcy Court
       Western District of New York (Buffalo)

Judge: Carl L. Bucki

Debtor's Counsel: Robert A. Liebers, Esq.
                  15 E. 15th St.
                  P.O. Box 3090
                  Jamestown, NY 14702-3090
                  Tel: (716) 488-3090
                  E-mail: liebers@burgettandrobbins.com

Scheduled Assets: $561,137

Scheduled Debts: $1,049,293

A list of the Company's 18 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nywb10-13118.pdf

The petition was signed by Sandra Kavanaugh, president.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Sandra Kavanaugh                       10-12736    06/22/10


JAPAN AIRLINES: Air Cargo Antitrust Litigation Settled
------------------------------------------------------
Kaplan Fox & Kilsheimer LLP announced a $12 million settlement,
subject to court approval, with Japan Airlines in In re: Air Cargo
Shipping Services Antitrust Litigation, 06-MD-1775 (JG) (VVP), a
multi-district litigation pending in the Eastern District of New
York.  Kaplan Fox serves as one of four co-lead counsels
representing a class of direct purchasers from defendants of air
cargo shipping services for shipments to, from and within the
United States seeking compensation for alleged overcharges
sustained as a result of a price-fixing conspiracy alleged against
over two dozen airlines.

Japan Airlines, which is based in Tokyo, Japan, filed for
bankruptcy in January 2010, and remains in bankruptcy.  In
addition to the $12 million settlement payment, Japan Airlines has
also agreed to provide substantial cooperation in the prosecution
of the action against the remaining defendants.

On September 25, 2009, Judge John Gleeson granted final approval
to an $85 million settlement with Deutsche Lufthansa AG, Lufthansa
Cargo AG, and Swiss International Air Lines Ltd.  On July 14,
2010, it was announced that a settlement had been reached with
defendants Societe Air France, Koninklijke Luchtvaart Maatschappij
N.V. and Martinair Holland N.V. for $87 million.  Thus, the
current settlement will increase the total amount recovered for
the class to date to $184 million.

                      About Japan Airlines

Japan Airlines Corporation -- http://www.jal.co.jp/-- is a
Japan-based company mainly engaged in the provision of air
transport services.  The Company is active in five business
segments through its 203 subsidiaries and 83 associated companies.
JAL International Co. Ltd. is a wholly owned operating subsidiary
of Japan Airlines Corporation.

Japan Airlines Corporation, Japan Airlines International Co., Ltd.
and JAL Capital Co., Ltd., on January 19, 2010, filed the
petitions to commenced corporate reorganization proceedings with
the Tokyo District Court.  The Court appointed the Enterprise
Turnaround Initiative Corporation of Japan and Eiji Katayama,
Esq., as reorganization trustees.

Japan Airlines Corp. filed for reorganization January 19 in the
Tokyo District Court and filed a Chapter 15 petition in New York
(Bankr. S.D.N.Y. Case No. 10-10198).  The Company said debt is
$28 billion.

Bankruptcy Creditors' Service, Inc., publishes Japan Airlines
Bankruptcy News.  The newsletter tracks the Chapter 15 proceedings
and the bankruptcy proceedings in Tokyo undertaken by Japan
Airlines Corp. and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


JOHN KILPATRICK: Case Summary & 14 Largest Unsecured Creditors
--------------------------------------------------------------
Joint Debtors: John W. Kilpatrick, Sr.
               Susan F. Kilpatrick
               111 S. Country Club Drive
               Kenansville, NC 28349

Bankruptcy Case No.: 10-05691

Chapter 11 Petition Date: July 18, 2010

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

Judge: Stephani W. Humrickhouse

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

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

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

A list of the Joint Debtors' 14 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nceb10-05691.pdf

The petition was signed by the Joint Debtors.


LAKEVIEW AT CAROLINA: Asks for Court OK to Use Cash Collateral
--------------------------------------------------------------
Lakeview At Carolina Beach, LLC, has sought authorization from the
U.S. Bankruptcy Court for the Northern District of Texas to use
the cash collateral securing its obligation to its prepetition
lenders.

As of the Petition Date, the Debtor was alleged indebted to First
Bank, in the approximate amount of $6,550,000.  The Debtor was
indebted to John S. Clark Construction LLC in the approximately
amount of $1,000,000.

The Debtor's only source of operating funds is generated by the
operation of the Debtor's property and the lease of its units.
First asserts a first lien priority on the rents generated by the
leases which constitute cash collateral.

Eric Liepins, Esq., at Eric Liepins, P.C., the attorney for the
Debtor, explains that the Debtor needs the money to fund the
Debtor's Chapter 11 case, pay suppliers and other parties.

In exchange for using the cash collateral, the Debtor proposes to
provide First a replacement lien on post-petition rents and income
to protect first to the extent of any diminution in value of its
collateral.

First has objected to the Debtor's request for authorization to
use cash collateral, saying that, among other things, the rents
and leases did not become property of the estate on the Petition
Date, and that there is no cash collateral for the Debtor to use.

First is represented by Cox Smith Matthews Incorporated.

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


LESLIE CONTROLS: DIP Financing, Cash Collateral Use Get Interim OK
------------------------------------------------------------------
Leslie Controls, Inc., sought and obtained interim authorization
from the Hon. Christopher S. Sontchi of the U.S. Bankruptcy Court
for the District of Delaware to obtain postpetition secured
financing from CIRCOR International, Inc.

The DIP lenders have committed to provide up to $10,000,000,
including an initial draw of up to $2,000,000, upon or after
interim approval of the Debtor's request.  A copy of the DIP
financing agreement is available for free at:

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

Norman L. Pernick, Esq., and Marion M. Quirk, Esq., of Cole,
Schotz, Meisel, Forman & Leonard, P.A., the attorneys for the
Debtor, explained that the Debtor needs the money to fund its
Chapter 11 case, pay suppliers and other parties.

The Debtor will grant CIRCOR senior secured liens and
superpriority claims as postpetition lender.  The Debtor will
grant CIRCOR a superpriority administrative claim, subordinate
only to the care-out expenses, and a senior first priority lien
on, and security interest in, substantially all of the Debtor's
assets.

The DIP facility will mature on November 15, 2010.  The DIP
facility will incur interest at LIBOR+350 bps, in monthly arrears.

The DIP lien is subject to a carve-out, which will include:
(a) statutory fees payable to the U.S. Trustee; (b) fees payable
to the Clerk of the Bankruptcy Court; (c) professional fees and
expenses of any Chapter 7 trustee appointed in an amount of up to
$50,000; and (d) after the occurrence of a carve-out event, an
amount equal to (x) the reasonable and budgeted professional fees
and expense actually incurred in the bankruptcy case by any legal
representative appointed by the Court for the representation of
persons that might assert future demands against the Debtor and
other professionals prior to the occurrence of a carve-out event
but not paid on or before the date of the carve-out event and
(Y) $350,000 for payment of permitted professional fees incurred
after the occurrence of a carve-out- event, in each case to the
extent subsequently allowed by the Court.

CICOR has made these conditions, among other things:

     a. The Debtor must file the Plan and the Disclosure
        Statement, both in form and substance reasonably
        satisfactory to and previously furnished to CIRCOR.

     b. Other than the bankruptcy case, no decree or judgment, and
        no pending or threatened litigation will purport to affect
        or enjoin execution of the postpetition credit agreement
        or the transactions contemplated thereby;

     c. No event of default will have occurred and be continuing;
        and

     d. CIRCOR will have received a cash budget.

Mr. Pernick and Ms. Quirk said that the Debtor will also use the
Cash Collateral to provide additional liquidity.  In exchange for
using the prepetition collateral, the Debtor will grant CIRCOR
replacement liens and administrative claim.

The Court has set a final hearing for August 9, 2010, at 1:00 p.m.
on the Debtors' request to obtain DIP financing and use cash
collateral.

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

The Company filed for Chapter 11 bankruptcy protection on July 12,
2010 (Bankr. D. Del. Case No. 10-12199).  Marion M. Quirk, Esq.,
and Norman L. Pernick, Esq., at Cole, Schotz, Meisel, Forman &
Leonard, assist the Company in its restructuring effort.  The
Company listed $10,000,001 to $50,000,000 in assets and
$50,000,001 to $100,000,000 in liabilities.


LESLIE CONTROLS: Proposes Plan to Channel Asbestos Claims to Trust
------------------------------------------------------------------
Leslie Controls, Inc. has filed with the U.S. Bankruptcy Court for
the District of Delaware a reorganization plan and disclosure
statement.

The Debtor is soliciting votes for the acceptance of its Plan from
holders of Asbestos PI Claims.

The Plan contemplates the establishment of a trust (the Asbestos
PI Trust) and an injunction (the Asbestos PI Channeling
Injunction) that will channel current asbestos-related claims and
future asbestos-related demands to the Asbestos PI Trust.  The
injunction will cover asbestos-related personal injury and
wrongful death claims and demands based in whole or in part on the
actual or alleged conduct or products of the Debtor.  The
injunction will also channel current asbestos-related claims and
future asbestos-related demands based in whole or in part upon
asbestos-related personal injury and wrongful death claims and
demands against certain parties arising from the conduct or
products of the Debtor, including past and present affiliates of
the Debtor, past and present officers and directors of the Debtor,
predecessors in interest to the Debtor, and any entity that owned
a financial interest in the Debtor or its affiliates of
predecessors.

The Asbestos PI Trust will be funded with (i) cash contributions
from the Debtor and CIRCOR, on behalf of themselves and certain
other parties; (ii) the Leslie Promissory Note executed by the
Debtor and secured by a pledge by CIRCOR of 100% of the
outstanding voting equity interests in reorganized Leslie; and
(iii) an assignment of the Asbestos Insurance Rights and Asbestos
Insurance Actions.  The assets of the Asbestos PI Trust will be
used to pay current and future asbestos-related personal injury
and wrongful death claimants.

The Asbestos PI Trust's assets must be managed by the Asbestos PI
Trustees to ensure that funds are available to pay current
claimants as well as expected future claimants.  The Debtor
estimates that $31 million-$34 million would be available for
distribution in a liquidation, compared to the $75 million
estimated by the Debtor at $45.6 million that will be available
under the Plan.

Under the Plan, the Debtor will assign to the Asbestos PI Trust
the Asbestos Insurance Rights and the Asbestos Insurance Actions,
including $2,625,000 of the proceeds of the Insurance Settlement
Agreement between Leslie and Continental Casualty company dated
April 19, 2010, plus the proceeds, if any, of any other Insurance
Settlement Agreement that were received by Leslie on or after
January 1, 2010.

Copies of the Plan and disclosure statement are available for free
at:

          http://bankrupt.com/misc/LESLIE_CONTROLS_ds.pdf
          http://bankrupt.com/misc/LESLIE_CONTROLS_plan.pdf

                         Treatment of Claims

Under the Plan, the administrative claims will be paid in full.

With respect to classified claims:

   Classification                            Treatment
   --------------                           ----------
Class 1 - Priority Claims           Unimpaired; not entitled to
                                    vote; 100% recovery

Class 2 - Secured Claims            Unimpaired; not entitled to
                                    vote; 100% recovery

Class 3 - General Unsecured Claims  Unimpaired; not entitled to
                                    vote; 100% recovery

Class 4 - Asbestos PI Claims and
          Asbestos PI Trust
          Expenses                  Impaired; entitled to vote

Class 5 - Intercompany Claims       Unimpaired; not entitled to
                                    Vote

Class 6 - Equity Interests in
          Leslie                    Unimpaired; not entitled to
                                    vote; 100% recovery

                       About Leslie Controls

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

The Company filed for Chapter 11 bankruptcy protection on July 12,
2010 (Bankr. D. Del. Case No. 10-12199).  Marion M. Quirk, Esq.,
and Norman L. Pernick, Esq., at Cole, Schotz, Meisel, Forman &
Leonard, assist the Company in its restructuring effort.  The
Company listed $10,000,001 to $50,000,000 in assets and
$50,000,001 to $100,000,000 in liabilities.


LESLIE CONTROLS: Gets Court OK to Hire Epiq as Claims Agent
-----------------------------------------------------------
Leslie Controls, Inc., sought and obtained authorization from the
Hon. Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware to employ Epiq Bankruptcy Solutions, LLC, as
claims, noticing and balloting agent.

Epiq will, among other things:

     a. maintain copies of proofs of claim and proofs of interest
        filed;

     b. create and maintain electronic databases for
        creditor/party in interest information provided by the
        Debtor and creditors/parties-in-interest;

     c. provide access to the public for examination of copies of
        the proofs of claim or interest without charge during
        regular business hours; and

     d. maintain official claims registers.

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

               http://ResearchArchives.com/t/s?66c5

Daniel C. McElhinney, Esq., executive director of Epiq, assured
the Court that the firm is "disinterested" as that term is defined
in Section 101(14) of the Bankruptcy Code.

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

The Company filed for Chapter 11 bankruptcy protection on July 12,
2010 (Bankr. D. Del. Case No. 10-12199).  Marion M. Quirk, Esq.,
and Norman L. Pernick, Esq., at Cole, Schotz, Meisel, Forman &
Leonard, assist the Company in its restructuring effort.  The
Company listed $10,000,001 to $50,000,000 in assets and
$50,000,001 to $100,000,000 in liabilities.


LESLIE CONTROLS: Section 341(a) Meeting Scheduled for Aug. 19
-------------------------------------------------------------
The U.S. Trustee for Region 3 will convene a meeting of Leslie
Controls, Inc.'s creditors on August 19, 2010, at 3:30 p.m.  The
meeting will be held at J. Caleb Boggs Federal Building, 2nd
Floor, Room 2112, Wilmington, Delaware 19801.

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.

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

The Company filed for Chapter 11 bankruptcy protection on July 12,
2010 (Bankr. D. Del. Case No. 10-12199).  Marion M. Quirk, Esq.,
and Norman L. Pernick, Esq., at Cole, Schotz, Meisel, Forman &
Leonard, assist the Company in its restructuring effort.  The
Company listed $10,000,001 to $50,000,000 in assets and
$50,000,001 to $100,000,000 in liabilities.


LEVI STRAUSS: Widens Net Loss to $14-Mil. in May 30 Quarter
-----------------------------------------------------------
Levi Strauss & Co. reported its financial results for the second
quarter ended May 30, 2010, and filed its second-quarter 2010
results on Form 10-Q with the Securities and Exchange Commission.

The Company reported a net loss of $14.38 million on
$976.5 million of net sales for the three months ended May 30,
2010, compared with a net loss of $4.13 million on $904.5 million
net revenues for the three month ended May 31, 2009.

The Company's balance sheet at May 30, 2010, showed $2.837 billion
in total assets and $3.136 billion total liabilities, for a
stockholder's deficit of $303 million.

Second-quarter net revenues increased 8% compared to last year due
to the continued worldwide growth of the Levi's brand.  Net
revenues benefited from business acquisitions made during 2009 and
ongoing retail expansion, partially offset by revenue declines in
the wholesale channel in certain markets.  Excluding the effect of
currency, net revenues improved 5%.

Operating income improved from $56 million to $69 million through
the positive effect of currency translation during the quarter.

The Company said it maintained a strong liquidity position during
the second quarter.  At May 30, 2010, cash and cash equivalents
were $353 million and $180 million was available under its
revolving credit facility.

"We had another good quarter, which gives us solid revenue growth
and operating income for the first six months of the year," said
John Anderson, president and chief executive officer.  "We are
seeing the benefit of our investments in the business over recent
years. The Levi's brand is performing well, and consumers are
responding to our more innovative products."

"We delivered solid operating results in the second quarter of
2010," said Blake Jorgensen, chief financial officer.  "Our cash
flow is strong and we continued to build our liquidity position
during the quarter.  We also successfully completed the
refinancing of our 2013 and 2015 debt maturities, as well as a
portion of our 2016 Yen Eurobonds, extending our debt maturities
and enabling us to focus on driving our growth strategies.  As we
continue to invest in the business, we remain focused on
controlling costs and managing inventories."

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?6678

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?6679

                     About Levi Strauss & Co.

Headquartered in San Francisco, California, Levi Strauss & Co. --
http://www.levistrauss.com/-- is one of the world's leading
branded apparel companies.  The Company designs and markets jeans,
casual and dress pants, tops, jackets and related accessories, for
men, women and children under the Levi's(R), Dockers(R) and
Signature by Levi Strauss & Co.(TM).  The Company markets its
products in three geographic regions: Americas, Europe, and Asia
Pacific.

As of February 28, 2010, the Company's balance sheet showed total
assets of $2.9 billion and total liabilities of $3.1 billion,
resulting in a stockholders' deficit of $265,455,000.

                           *     *     *

The Troubled Company Reporter reported on April 26, 2010, that
Standard & Poor's Ratings Services affirmed its 'B+' corporate
credit rating on San Francisco, Calif.-based Levi Strauss & Co.
The outlook is stable.

The TCR also reported that Moody's Investors Service assigned a B2
rating to Levi Strauss & Co proposed senior unsecured notes.  All
other ratings including its B1 Corporate Family Rating were
affirmed.  The rating outlook remains stable.

The TCR reported on April 7, 2010, that Fitch Ratings affirmed
Levi Strauss & Co.'s ratings: Issuer Default Rating at 'BB-';
$750 million Bank Credit Facility at 'BB+'; Senior unsecured notes
at 'BB-'; Senior unsecured term loan 'BB-'.


LORENZ RICHLING: Case Summary & 18 Largest Unsecured Creditors
--------------------------------------------------------------
Joint Debtors: Lorenz J. Richling
               aka Larry J. Richling
               Mary L. Richling
               7755 Main Street, Apt. 4
               Ralston, NE 68127
               Tel: (402) 496-1130

Bankruptcy Case No.: 10-82039

Chapter 11 Petition Date: July 16, 2010

Court: United States Bankruptcy Court
       District of Nebraska (Omaha Office)

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

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

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

A list of the Joint Debtors' 18 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/neb10-82039.pdf

The petition was signed by the Joint Debtors.


LUIS VAZQUEZ: Case Summary & 9 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Luis Vazquez
        105 N Pearl St.
        Las Vegas, NV 89110

Bankruptcy Case No.: 10-23266

Chapter 11 Petition Date: July 16, 2010

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

Judge: Bruce A. Markell

Debtor's Counsel: Ryan Alexander, Esq.
                  Law Offices of Ryan Alexander
                  520 S. 4th St., suite 340
                  Las Vegas, NV 89101
                  Tel: (702) 868-3311
                  Fax: (702) 868-3312
                  E-mail: ryan@ryanalexander.us

Estimated Assets: $0 to $50,000

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

A list of the Debtor's 9 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nvb10-23266.pdf

The petition was signed by Mr. Vazquez.


LYONDELL CHEMICAL: Settles $12-Mil. Fight over Utility Fees
-----------------------------------------------------------
A subsidiary of Lyondell Chemical Co. has agreed to allow Morris
Cogeneration LLC a cure amount of $12.4 million in the company's
bankruptcy, ending a battle with the power station operator over a
claim for utility service, Bankruptcy Law360 reports.

                           About Lyondell Chemical

LyondellBasell Industries is one of the world's largest polymers,
petrochemicals and fuels companies.  It is the global leader in
polyolefins technology, production and marketing; a pioneer in
propylene oxide and derivatives; and a significant producer of
fuels and refined products, including biofuels.  Through research
and development, LyondellBasell develops innovative materials and
technologies that deliver exceptional customer value and products
that improve quality of life for people around the world.
Headquartered in The Netherlands, LyondellBasell --
http://www.lyondellbasell.com/-- is privately owned by Access
Industries.

Basell AF and Lyondell Chemical Company merged operations in 2007
to form LyondellBasell Industries, the world's third largest
independent chemical company.  LyondellBasell became saddled with
debt as part of the US$12.7 billion merger.  On January 6, 2009,
LyondellBasell Industries' U.S. operations and one of its European
holding companies -- Basell Germany Holdings GmbH -- filed
voluntary petitions to reorganize under Chapter 11 of the U.S.
Bankruptcy Code to facilitate a restructuring of the company's
debts.  The case is In re Lyondell Chemical Company, et al.,
Bankr. S.D.N.Y. Lead Case No. 09-10023).  Seventy-nine Lyondell
entities, including Equistar Chemicals, LP, Lyondell Chemical
Company, Millennium Chemicals Inc., and Wyatt Industries, Inc.
filed for Chapter 11.  In May 2009, one of the cases was dismissed
-- Case No. 09-10068 -- because it is duplicative of Case No. 09-
10040 relating to Debtor Glidden Latin America Holdings.

The Hon. Robert E. Gerber presides over the case.  Deryck A.
Palmer, Esq., at Cadwalader, Wickersham & Taft LLP, in New York,
serves as the Debtors' bankruptcy counsel.  Evercore Partners
serves as financial advisors, and Alix Partners and its subsidiary
AP Services LLC, serves as restructuring advisors.  AlixPartners'
Kevin M. McShea acts as the Debtors' Chief Restructuring Officer.
Clifford Chance LLP serves as restructuring advisors to the
European entities.  Lyondell Chemical estimated that consolidated
assets total US$27.12 billion and debts total US$19.34 billion as
of the bankruptcy filing date.

Lyondell has obtained approximately US$8 billion in DIP financing
to fund continuing operations.  The DIP financing includes two
credit agreements: a US$6.5 billion term loan, which comprises a
US$3.25 billion in new loans and a US$3.25 billion roll-up of
existing loans; and a US$1.57 billion asset-backed lending
facility.

LyondellBasell Industries AF S.C.A. and another affiliate were
voluntarily added to Lyondell Chemical's reorganization filing
under Chapter 11 on April 24, 2009, in order to seek protection
against claims by certain financial and U.S. trade creditors.  On
May 8, 2009, LyondellBasell Industries added 13 non-operating
entities to Lyondell Chemical Company's reorganization filing
under Chapter 11 of the U.S. Bankruptcy Code.  All of the entities
are U.S. companies and were added to the original Chapter 11
filing for administrative purposes.

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


MASCO CORPORATION: Moody's Affirms 'Ba2' Corporate Family Rating
----------------------------------------------------------------
Moody's Investors Service affirmed Masco Corporation's Corporate
Family Rating and Probability of Default Rating at Ba2 and senior
unsecured notes at Ba2.  In a related rating action Moody's
changed the company's speculative grade liquidity rating to SGL-1
from SGL-2.  The outlook is stable.

Masco's Ba2 Corporate Family Rating considers Masco's scale,
strong market position, and extensive product offerings.  The
company sells across a diverse array of building products
segments, mitigating the adverse effect of weakness in any single
line of business.  The Decorative Architectural Products segment
and Plumbing Products continue to perform well, and serve to
partially offset the lackluster performance in the company's
Cabinets and Related Products and Installation and Other Services
businesses.  Despite the likelihood of margin improvement, Masco's
interest coverage and debt leverage credit metrics will remain
weak, constraining the rating for an extended period of time.
EBITA/interest expense was 2.0 times and (EBITDA - CAPEX)/interest
expense was about 2.4 times for the last twelve months through
March 31, 2010, while debt/EBITDA was 5.8 times at 1Q10 (all
ratios adjusted per Moody's methodology).  Significant cash
balances of about $1.4 billion at 1Q10 and $1.25 billion available
under its revolving credit facility offsets the weak credit
metrics, giving Masco significant liquidity cushion as it grapples
with ongoing operating weakness in some of its businesses.

The change in the speculative grade liquidity rating reflects the
extension of Masco's $1.25 billion revolving credit to January
2014, resulting in a very good liquidity profile.  Combined cash
on hand and revolver availability of $2.6 billion is more than
ample to meet any working capital needs and capital expenditures.
Now that Masco extended its revolver, the next nearest demand on
cash is July 2012 when the company's 5.875% $850 million senior
unsecured notes mature of which about $200 million is already
prefunded.

The stable outlook reflects Moody's belief that the combination of
operating margin improvement and about $2.6 billion of cash on
hand and revolver availability provides Masco with significant
financial flexibility to contend with ongoing economic
uncertainties and the resulting impact on the repair and
remodeling and new housing construction end markets.

These ratings/assessments were affected by this action:

  -- Corporate Family Rating affirmed at Ba2;
  -- Probability of Default Rating affirmed at Ba2;
  -- Senior unsecured notes ratings affirmed at Ba2 (LGD4, 56%);
  -- Various shelf securities affirmed at (P)Ba2/(P)B1.

The company's speculative grade liquidity rating changed to SGL-1
from SGL-2.

The last rating action was on March 5, 2010, at which time Moody's
affirmed Masco's Corporate Family Rating at Ba2.

Masco Corporation, headquartered in Taylor, MI, is one of the
largest manufacturers in North America of a number of home
improvement and building products, including faucets, cabinets,
architectural coatings and windows and is one of the largest
installers of insulation for the new home construction market.
The Company generally distributes products through multiple
channels including home builders and wholesale and retail
channels.  Revenues for the last twelve months through March 31,
2010 totaled approximately $7.8 billion.


MEDICAL STAFFING: Taps Jefferies as Investment Banker
-----------------------------------------------------
Medical Staffing Network Holdings, Inc., et al., sought and
obtained interim authorization from the Hon. Erik P. Kimball of
the U.S. Bankruptcy Court for the Southern District of Florida to
employ Jefferies & Company, Inc., as investment banker, nunc pro
tunc to the Petition Date.

Jefferies will provide investment banking services to the Debtors,
including:

     a. providing advice and assistance (testimony and certain
        other services relating to a potential debtor-in-
        possession facility of the Company);

     b. acting as the exclusive financial advisor to the Company
        in connection with any potential sale, disposition or
        other business transaction or series of transactions
        involving a transfer of ownership of all or a material
        portion of the Company's assets, including under the U.S.
        Bankruptcy Code;

     c. providing a fairness opinion with respect to the
        foregoing, working collaboratively with the Debtors' other
        professionals; and

     d. assisting the Debtors in evaluating and implementing
        strategic and tactical options through the restructuring
        process.

Jefferies will be compensated based on its engagement letter to
the Debtor, a copy of which is available for free at:

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

Leon Szlezinger, managing director of Jefferies, assured the Court
that the firm is "disinterested" as that term is defined in
Section 101(14) of the Bankruptcy Code.

The Court has set a final hearing for July 21, 2010, at 9:30: a.m.
on the Debtors' request to be allowed to hire Jefferies as
investment banker.

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.  The Garden City Group Inc.
is the Company's claims and notice agent.


MESA AIR: Ends Fight with United over Regional Air Contract
-----------------------------------------------------------
Bankruptcy Law360 reports that United Airlines Inc. has ended its
fight with Mesa Air Group Inc. over a regional air service
contract, following U.S. Bankruptcy Judge Martin Glenn's decision
that United can sue the budget airline outside of its Chapter 11
proceedings.

                     About Mesa Air Group

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

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

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

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


MGM RESORTS: To Release Q2 Financial Results on August 3
--------------------------------------------------------
MGM Resorts International will release its financial results for
the second quarter of 2010 prior to the market open on August 3,
2010.  The Company will host a conference call at 11:00 a.m.
Eastern Time which will include a brief discussion of these
results followed by a question and answer period.

The call will be accessible via the Internet through
http://www.mgmresorts.com/and
http://www.videonewswire.com/event.asp?id=70960or by calling 1-
800-526-8531 for Domestic callers and 1-706-758-3659 for
International callers.  The conference call ID # is 87731569.

A replay of the call will be available through Tuesday, August 10,
2010.  The replay may be accessed by dialing 1-800-642-1687 or
1-706-645-9291.  The replay access code is 87731569.  The call
will also be archived at http://www.mgmresorts.com/and
at http://www.videonewswire.com/event.asp?id=70960

                         About MGM Resorts

MGM Resorts International (NYSE: MGM) --
http://www.mgmresorts.com/-- has significant holdings in gaming,
hospitality and entertainment, owns and operates 15 properties
located in Nevada, Mississippi and Michigan, and has 50%
investments in four other properties in Nevada, Illinois and
Macau.

                           *     *     *

As reported by the Troubled Company Reporter on July 1, 2010,
Fitch Ratings affirmed these ratings for MGM Resorts: Issuer
Default Rating affirmed at 'CCC'; Senior secured notes due 2013,
2014, and 2017 affirmed at 'B+/RR1' (91%-100% recovery band);
Senior secured notes due 2020 rated 'B+/RR1' (91%-100%); Senior
credit facility affirmed at 'B-/RR3' (51%-70%); Senior unsecured
notes affirmed at 'CCC/RR4' (31%-50%); Convertible senior notes
due 2015 rated 'CCC/RR4' (31%-50%); Senior subordinated notes
affirmed at 'C/RR6' (0%-10%).


MICHAEL BUMGARNER: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Michael Rodney Bumgarner
        P.O. Box 2286
        Hickory, NC 28603

Bankruptcy Case No.: 10-51043

Chapter 11 Petition Date: July 17, 2010

Court: United States Bankruptcy Court
       Western District of North Carolina (Wilkesboro)

Judge: J. Craig Whitley

Debtor's Counsel: Jimmy R. Summerlin, Jr., Esq.
                  Young, Morphis, Bach & Taylor, LLP
                  P.O. Drawer 2428
                  400 Second Ave., NW
                  Hickory, NC 28603
                  Tel: (828) 322-4663
                  Fax: (828) 322-2023
                  E-mail: jimmys@hickorylaw.com

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

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

A list of the Debtor's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ncwb10-51043.pdf

The petition was signed by Mr. Bumgarner.


MIDWEST PROPERTIES: Case Summary & 9 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Midwest Properties of Shawano, LLC
        902 North Market Street, Suite 704
        Wilmington, DE 19801

Bankruptcy Case No.: 10-31515

Chapter 11 Petition Date: July 13, 2010

Court: United States Bankruptcy Court
       Eastern District of Wisconsin (Milwaukee)

Debtor's Counsel: Bruce E. Scott, Esq.
                  Bruce E. Scott Law Firm
                  204 E. Main Street
                  P.O. Box 46
                  New Prague, MN 56071
                  Tel: (952) 758-4761
                  E-mail: bscott@bevcomm.net

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

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

A list of the Company's 9 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/wieb10-31515.pdf

The petition was signed by Naomi Isaacson, CEO.


MINSTER INSURANCE: Seeks Chapter 15 Protection from Creditors
-------------------------------------------------------------
London, United Kingdom-based Minster Insurance Co. sought
bankruptcy protection from creditors under Chapter 15 of the U.S.
Bankruptcy Code on July 19 in Manhattan (Bankr. S.D.N.Y. Case No.
10-13899).

Minster filed for Chapter 15 to protect itself from U.S. lawsuits
and creditor claims while it is reorganizing in London.  The
Company listed both debt and assets of more than $100 million.

Minster is asking the U.S. Bankruptcy Court to recognize the
proceeding currently pending before the High Court of Justice of
England and Wales as a "foreign main proceeding."  The proceeding
in the English Court commenced in 2009.

According to Bloomberg News, Minster and its Malvern Insurance Co.
affiliate, which also sought protection, are insurance and
reinsurance companies that no longer write new business.  Both
companies are based in London and their assets are primarily
located in England.

"The ultimate goal of each of the companies is to satisfy the
claims" of creditors and "conclude the business of the companies
sooner" than would be the case outside of bankruptcy, James Lee
Saitch, foreign representative of Minster and Malvern, said in
court papers, according to Bloomberg.

Bankruptcy Law360 reports that Minster Insurance and Malvern have
asked a bankruptcy judge to issue a ruling that their blueprints
for paying off creditors, which have already won court approval in
the U.K., are binding on creditors in the U.S.


MOTOROLA INC: Nokia $1.2 Bil. Deal Won't Affect S&P's 'BB+' Rating
------------------------------------------------------------------
Standard & Poor's Ratings Services said that its ratings and
outlook on Finland-based mobile telecommunications equipment
manufacturer Nokia Corp. (A/Negative/A-1) are unchanged following
announcement that 50%-owned Nokia Siemens Networks has entered
into an agreement with U.S.-based Motorola Inc. (BB+/Stable/--).
Under the agreement, NSN will acquire the majority of Motorola's
wireless network infrastructure assets for $1.2 billion in cash.
The transaction is subject to regulatory approval and NSN expects
it to close by the end of 2010.

In S&P's opinion, the acquisition could strengthen NSN's
competitive position, particularly in the U.S. and Japan, and
could slightly improve NSN's currently weak profitability.  S&P
understands that NSN intends to finance the acquisition with cash
on hand and its existing EUR2 billion multicurrency revolving
credit facility, which matures in June 2012.  Based on S&P's
calculations, the announced acquisition will slightly weaken
Nokia's currently robust credit measures.  As of March 31, 2010,
Nokia's gross debt-to-EBITDA ratio, as adjusted by Standard &
Poor's, stood at 1.3x, and the group reported a very robust net
(financial) cash position of EUR5 billion.


MSJ INVESTMENT: Plan Confirmation Hearing Set for September 21
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Arizona will
consider on September 21, 2010, at 1:30 p.m., the confirmation of
MSJ Investment Properties, LLC, and P&G Investment Properties,
Inc.'s Plan of Reorganization.  Objections, if any, are due five
days prior to the hearing.  The ballot report will be due two days
prior.

As reported in the Troubled Company Reporter on June 14, according
to the Disclosure Statement, the Plan proposes that, upon
confirmation, ownership of the assets of the Chapter 11 estate be
vested in the Debtors, and the Debtors will continue to operate
the hotel property under the direction of the individuals in
control of the Debtors during the administration of the case.
This will continue, at least until the unsecured claims in Class 5
have been paid in full.

On the effective date, the Reorganized Debtors will establish a
Plan Fund consisting of a separate, segregated interest-bearing
deposit account, into which the Debtors will deposit funds for
distribution to Class 5 claimants.  The Plan Fund will be funded
initially from all cash funds in the Debtors possession on the
Effective Date.

Holders of general unsecured Claims will be paid in full, in cash,
in semi-annual installments in a pro rata amount from the Plan
Fund, together with interest thereon at the federal judgment rate
in effect from time to time.

The existing shareholder of the Debtors will not receive any
distribution on account of his interest unless and until all sums
due in Classes 1, 2 and 5 are paid in full pursuant to the Plan.

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

The Debtors are represented by:

     Scott D. Gibson, Esq.
     Kristen M. Green, Esq.
     E-mail: ecf@gnglaw.com
     Gibson, Nakamura & Green, P.L.L.C.
     2329 N. Tucson Blvd.
     Tucson, AZ 85716

                  About MSJ Investment Properties

Oro Valley, Arizona-based MSJ Investment Properties, L.L.C., filed
for Chapter 11 bankruptcy protection on February 12, 2010 (Bankr.
D. Ariz. Case No. 10-03643).  The Company estimated its assets and
liabilities at $1,000,001 to $100,000,000.


NETWORK COMMS: Working with Restructuring Advisors for Options
--------------------------------------------------------------
Network Communications, Inc., said last week it is continuing to
work with its restructuring advisors to review its financial,
strategic and legal restructuring options.

On June 28, 2010, the Company filed a form 12b-25 Notification of
Late Filing to announce that it had not completed the preparation
of the Company's financial statements related to the fiscal year
ended March 28, 2010 and that it would be unable to prepare and
file its annual report on Form 10-K for the fiscal year ended
March 28, 2010 by the June 28, 2010 deadline.  The Company has not
yet filed the Form 10-K.

The Company's management is continuing to work to finalize the
Company's financial statements for the fiscal year ended March 28,
2010.

Last week, the Company also disclosed it elected not to make the
June 1, 2010 interest payment of approximately $9.4 million on its
10 _% Senior Notes due 2013.  The Troubled Company Reporter on
July 19 said the Company blamed continued challenges in the
markets that it serves, the lack of a rebound in revenue and the
inability to secure a new revolving loan facility to replace the
current commitment that expires in November 2010.

As a result of missing the payment, the Company's senior secured
lenders accelerated all amounts outstanding under the Company's
revolving and term loan credit agreements, which in turn triggered
an event of default under the Senior Notes indenture and the
senior subordinated credit agreement.  The Company's total debt
outstanding is approximately $296 million.  The Company said it is
unable to pay the outstanding debt if it is called.  The Company
obtained an agreement from its secured lenders dated June 1, 2010,
permitting it to have continued access to and use of its cash as
it works with its stakeholders to restructure its balance sheet.

On July 9, 2010, the Company and its parent, Gallarus Media
Holdings, Inc., entered into a second amendment to agreement,
dated July 9, 2010, by and among the Company, the lenders party
thereto, Toronto Dominion (Texas) LLC, as Administrative Agent
under the Company's revolving credit agreement and under the
Company's senior term loan agreement and as Collateral Agent for
the lenders thereunder, and certain other parties thereto to amend
the agreement dated June 1, 2010 such that the definition of
"Transaction Event" therein was changed from June 20, 2010 to July
30, 2010.  All other terms remain the same.  The Company expects
to have sufficient cash on hand to fund normal course operations
as restructuring negotiations progress.

Lawrenceville, Ga.-based Network Communications, Inc., is a
leading local media company providing lead generation, advertising
and internet marketing services to the housing industry.  The
Company's leading brands are Apartment Finder, The Real Estate
Book, DigitalSherpa, Unique Homes, New England Home and Atlanta
Homes & Lifestyles.

The Company's balance sheet at December 6, 2009, showed
$362.4 million in assets, $330.3 million of liabilities, and
$32.1 million of stockholders' equity.


NEWPAGE CORP: Offers to Exchange $70,000,000 in 11.375% Notes
-------------------------------------------------------------
NewPage Corporation is offering to exchange $70,000,000 in
aggregate principal amount of 11.375% Senior Secured Notes due
2014, Series B for all outstanding $70,000,000 in aggregate
principal amount of 11.375% Senior Secured Notes due 2014,
Series A.

The exchange offer will expire at 12:00 midnight, New York City
time, on August 11, 2010, which is 20 business days after the
commencement of the exchange offer, unless extended.

The Original Notes were sold by the Company in a private placement
consummated on February 24, 2010.  The Original Notes were issued
under the same indenture as the existing 11.375% Senior Secured
Notes due 2014, which the Company issued in September 2009 in the
aggregate principal amount of $1,700,000,000.  The New Notes are
substantially identical to the Original Notes and are governed by
the same indenture governing the Original Notes and the Existing
Notes.

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

                     About NewPage Corporation

Headquartered in Miamisburg, Ohio, NewPage Corporation --
http://www.NewPageCorp.com/is the largest coated paper
manufacturer in North America, based on production capacity, with
$3.1 billion in net sales for the year ended December 31, 2009.
The company's product portfolio is the broadest in North America
and includes coated freesheet, coated groundwood, supercalendered,
newsprint and specialty papers.  These papers are used for
corporate collateral, commercial printing, magazines, catalogs,
books, coupons, inserts, newspapers, packaging applications and
direct mail advertising.

NewPage owns paper mills in Kentucky, Maine, Maryland, Michigan,
Minnesota, Wisconsin and Nova Scotia, Canada. These mills have a
total annual production capacity of approximately 4.4 million tons
of paper, including approximately 3.2 million tons of coated
paper, approximately 1.0 million tons of uncoated paper and
approximately 200,000 tons of specialty paper.

NewPage Corp. reported $4.0 billion in total assets,
$468.0 million, $3.0 billion in long term debt, and $493.0 in
long-term obligations resulting to a $14.0 million stockholders'
equity as of Dec. 31, 2009.

                           *     *     *

As reported by the Troubled Company Reporter on October 7, 2009,
Standard & Poor's Ratings Services raised its corporate credit
rating on NewPage Corp. to 'CCC+' from 'SD' (selective default).
The outlook is negative.

S&P raised the issue-level rating on the company's second-lien
floating- and fixed-rate notes due 2012 to 'CCC-' (two notches
below the corporate credit rating) from 'D'.  The recovery rating
on these notes remains at '6', indicating S&P's expectation of
negligible (0% to 10%) recovery in the event of a payment default.

S&P also raised the issue-level rating on the company's
subordinated notes to 'CCC-' from 'CC'.   The recovery rating is
unchanged at '6', indicating S&P's expectation of negligible (0%
to 10%) recovery in the event of a payment default.


NYC OFF-TRACK: Rayburn Wants Restructuring Plan Within 30 Days
--------------------------------------------------------------
Paul Post at The Saratogian reports that Greg Rayburn, the new
head of bankrupt New York City Off Track Betting Corp. says he'll
have a plan in place for restructuring the firm within 30 days.

According to the report, Mr. Rayburn says all stakeholders --
racetracks, breeders, unions and governments -- will have to share
some of the pain involved with getting OTB back on solid financial
ground.  He said he isn't convinced that New York Racing
Association should ultimately run OTB.  In most states, the
racetrack operator controls distribution of the racing product.

"We're evaluating everything," the report quotes Mr. Rayburn as
saying.  "I view this as a very short-term effort.  We need to
have a plan in 30 days.  There's no question that participants in
our creditors' group are suffering because of our bankruptcy and
inability to make full (statutory) payments."

According to the report, New York City OTB owes NYRA more than
$20 million and is underpaying by nearly $2 million per month.
NYRA says most of its recent $25 million state loan will be gone
by 2011 because of OTB's inability to make mandated monthly
payments.

"It appears that Mr. Rayburn is serious about attacking the
significant operating and financial issues of New York City OTB
that have been ignored for years," the report quotes NYRA
President and CEO Charles Hayward as saying.  "New York City OTB
is very important to the racing industry in New York and across
the country. I assume that all industry participants will be
willing to endure some pain to get this entity back on track. NYRA
stands ready to assist Mr. Rayburn in any way that he deems
appropriate."

Former OTB Chairman Meyer Frucher wanted to close more than two
thirds of OTB's betting shops and lay off hundreds of workers and
replace them with self-service betting machines at venues such as
New York sports bars.  According to the report, Mr. Rayburn said
some closures and layoffs are needed, but not as many as called
for by Mr. Frucher.

The report notes Mr. Rayburn said OTB should be run by someone
with more gaming expertise.  At present, it has no rebate rewards
program, making it difficult to compete with account deposit
wagering firms that do, such as HRTV and Youbet.  Mr. Rayburn also
said OTB needs to establish a capital reserve fund, allowing it to
invest back into the business.

                           About NYC OTB

New York City Off-Track Betting Corporation is a public benefit
corporation, which operates an off-track pari-mutuel betting
system on thoroughbred and harness horse races held at all 11 race
tracks located in New York State and certain race tracks located
outside of the State.  Since NYC OTB's inception in 1971, it has
made payments of nearly $2 billion to the State horse racing
industry, more than $1.4 billion to New York City and nearly
$600 million to the State.  In 2008 alone, NYC OTB made statutory
contributions in an aggregate amount of $128.6 million to the
State horse racing industry, the State, the City, and other local
municipalities.  NYC OTB's operations are regulated by the State.

NYC OTB filed for bankruptcy under Chapter 9 of the Bankruptcy
Code on December 3, 2009 (Bankr. S.D.N.Y. Case No. 09-17121).
Richard Levin, Esq., at Cravath, Swaine & Moore LLP, in New York,
serves as the Debtor's counsel.

At September 30, 2009, NYC OTB had $18,468,147 in total assets
against $74,912,742 in total current liabilities, $6,982,887 in
long-term liabilities, and $201,020,000 in long-term post
employment benefits.


ORIENTAL FINANCIAL: S&P Revises Outlook on 'BB+' Rating to Stable
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its outlook on
Oriental Financial Group and subsidiary Oriental Bank & Trust to
stable from negative.  At the same time, Standard & Poor's
affirmed its 'BB+' long-term counterparty credit rating on
Oriental Financial, and its 'BBB-' long-term counterparty credit
rating on Oriental Bank.

"The outlook revision reflects reduced credit-sensitive exposures
in the relatively large available-for-sale securities book through
the sale of a large proportion of non-agency securities, so the
risk of substantial near-term securities losses has diminished in
its opinion," said Standard & Poor's credit analyst Lidia
Parfeniuk.  This also strengthened the balance sheet and improved
liquidity, in S&P's assessment.

S&P expects provisions to remain elevated given the generally weak
Puerto Rico economy, although Oriental's loan portfolio is less
risky and much smaller compared with those of its Puerto Rican
bank peers.  Although its Eurobank acquisition, a Federal Deposit
Insurance Corp. assisted deal, will increase Oriental's moderate
credit risk profile in the loan book with additional exposure to
commercial real estate and construction loans, S&P believes the
loss-sharing agreement with the FDIC will significantly limit
potential losses.  Furthermore, S&P expects the Eurobank
acquisition to enhance Oriental's retail and commercial banking
franchise and reduce the concentration in investment securities.

Oriental had previously undertaken highly leveraged interest-rate
risk through structured repo transactions, which in S&P's opinion
elevated the exposure to interest rate risk.  However, improving
asset-liability management modeling and stress-testing
capabilities should help the bank better manage this risk.

The outlook is stable despite continuing challenges in the Puerto
Rico economy due to Oriental's more modest exposure to credit
risk, which will help preserve the earnings level.  Although S&P
believes the Eurobank acquisition is a good fit, Oriental faces
integration risk as it lacks an acquisition track record.  S&P
will monitor integration developments closely.

Oriental, a financial holding company in Puerto Rico, with
$9.5 billion of total assets owned and under management at
March 31, 2010, has a fairly modest competitive position, in S&P's
opinion.  The company has four subsidiaries: Oriental Bank and
Trust, the commercial bank, which houses almost all of Oriental's
assets; Oriental Financial Services Corp., a securities dealer;
Oriental Insurance, Inc.; and Caribbean Pension Consultants, which
offers third-party pension plan administration in continental
U.S., Puerto Rico, and the Bahamas.


PACIFICA MESA STUDIOS: Seeks Bankruptcy Protection
--------------------------------------------------
Dawn McCarty at Bloomberg News reports that Pacifica Mesa Studios
LLC filed for bankruptcy protection in San Fernando Valley,
California (Bankr. C.D. Calif. Case No. 10-18827).

Agoura Hills, California-based Pacifica Mesa is the parent company
of the New Mexico complex where the movies "The Book of Eli" and
"Terminator Salvation" were filmed.  The Chapter 11 petition
listed assets of $57.7 million and debt of $104.5 million in
Chapter 11 documents. Pacifica Mesa holds the title to Albuquerque
Studios, a 28-acre site the company valued at $54 million in court
papers.


PENN TRAFFIC: PBGC Objects to Disclosure Statement
--------------------------------------------------
Bankruptcy Law360 reports that the U.S. Pension Benefit Guaranty
Corp. has objected to a disclosure statement for a liquidation
plan filed by bankrupt grocer The Penn Traffic Co., which sold its
stores to former rival Tops Markets LLC for about $155 million
earlier this year.

                        About Penn Traffic

Syracuse, New York-based The Penn Traffic Company -- dba P&C
Foods, Bi-Lo Foods, and Quality Markets -- operates supermarkets
in Pennsylvania, upstate New York, Vermont, and New Hampshire
under the Bilo, P&C and Quality trade names.  The Company filed
for Chapter 11 bankruptcy protection on November 18, 2009 (Bankr.
D. Del. Case No. 09-14078).  Ann C. Cordo, Esq., and Gregory W.
Werkheiser, Esq., at Morris, Nichols, Arsht & Tunnell assist the
Company in its restructuring effort.  Donlin Recano is the
Company's claims agent.  The Company listed $150,347,730 in assets
and $136,874,394 in liabilities as of May 4, 2009.

The Company's affiliates also filed separate Chapter 11 petitions
-- Sunrise Properties, Inc.; Pennway Express, Inc.; Penny Curtiss
Baking Company, Inc.; Big M Supermarkets, Inc.; Commander Foods
Inc.; P and C Food Markets, Inc. of Vermont; and P.T. Development,
LLC.

Following a bankruptcy court-sanctioned auction, Tops Markets LLC
purchased almost all of Penn Traffic's stores as a going concern
by paying $85 million cash.  The sale was structured so Penn
Traffic avoided a $72 million claim for pension plan termination
and a $27 million claim by the principal supplier.


PERFORMANCE TRANSPORTATION: Sues Truck Makers Over Monopoly Claims
------------------------------------------------------------------
Bankruptcy Law360 reports that truck builders including Daimler
Trucks North America LLC, Volvo Trucks North America, Peterbilt
Motors Co. and Mack Trucks Inc. are facing a proposed class action
alleging they conspired to maintain the monopoly power of Eaton
Corp. in the market for transmissions used in large trucks.
Law360 says Performance Transportation Services Inc. Chapter 7
Trustee Mark S. Wallach filed an amended class action complaint
against the truck companies in the U.S. District Court for the
District of Delaware.

                About Performance Transportation

Based in Wayne, Michigan, Performance Transportation Services,
Inc. provided new and use vehicle delivery services in the United
States.  Performance Transportation has facilities in the United
States and Canada.

The Company and its debtor-affiliates filed for Chapter 11
bankruptcy on November 19, 2007 (Bankr. W.D.N.Y. Case No. 07-04746
thru 07-04760).  When the Debtors filed for protection from their
creditors, they listed more than $100 million each in assets and
debts.  (Performance Bankruptcy News, Issue No. 55; Bankruptcy
Creditors' Services Inc.; http://bankrupt.com/newsstand/or
215/945-7000).

The Court converted the Debtors' Chapter 11 cases to cases under
Chapter 7 of the Bankruptcy Code, effective as of July 14, 2008.
Mark S. Wallach was appointed as trustee.  Lawyers at Bond,
Schoeneck & King, PLLC, Jones Day, and Hodgson Russ LLP, represent
the Debtors as counsel.


PHILADELPHIA NEWSPAPERS: Seeks to Probe Pension Funds
-----------------------------------------------------
Bankruptcy Law360 and Dow Jones Daily Bankruptcy Review report
that Philadelphia Newspapers LLC is looking to probe pension funds
under F.R.B.P. Rule 2004.  The Debtor says that a group of pension
funds is embarking on a new strategy in a quest to "saddle" the
company with pension liabilities.

As reported by the Troubled Company Reporter on July 12, 2010,
Andrew Maykuth at The Philadelphia Inquirer said Chief Bankruptcy
Judge Stephen Raslavich denied a request by employee pension plans
to put Philadelphia Newspapers' reorganization on hold while the
pension plans appeal the bankruptcy plan in U.S. District Court.
The funds oppose the reorganization because the new owners will be
absolved of responsibility for funding pension shortfalls.

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

                         Bankruptcy Plan

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

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

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

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

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

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

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

                  About Philadelphia Newspapers

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

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

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

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


PHILLIP KEITH: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Phillip Dennis Keith
        2110 Overland Ave., Suite 117
        Billings, MT 59101
        Tel: (406) 672-3501

Bankruptcy Case No.: 10-61722

Chapter 11 Petition Date: July 16, 2010

Court: United States Bankruptcy Court
       District of Montana (Butte)

Judge: Ralph B. Kirscher

Debtor's Counsel: Allen Beck, Esq.
                  Law Offices of Allen Beck
                  505 W Main St., Suite 405
                  Lewistown, MT 59457
                  Tel: (406) 538-8380
                  E-mail: becklaw@midrivers.com

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

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

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

The petition was signed by Mr. Keith.


PREMIER HOTEL: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: The Premier Hotel Group LLC
        dba Baymont Inn and Suites
        730 E Xenia Dr
        Fairborn, OH 45324

Bankruptcy Case No.: 10-34585

Chapter 11 Petition Date: July 16, 2010

Court: United States Bankruptcy Court
       Southern District of Ohio (Dayton)

Judge: Lawrence S. Walter

Debtor's Counsel: Delena Edwards, Esq.
                  Delena Edwards Co LPA
                  2021 E Dublin Granville Rd, Suite 173
                  Columbus, OH 43229
                  Tel: (614) 785-9958
                  Fax: (614) 785-9508
                  E-mail: dedwardsoffice@aol.com

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

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ohsb10-34585.pdf

The petition was signed by William Parker, managing member.


PSEG ENERGY: Moody's Withdraws 'Ba3' Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service has withdrawn the ratings of PSEG Energy
Holdings L.L.C. because Moody's believes it lacks adequate
information to maintain the rating.

The ratings of Public Service Enterprise Group Incorporated
((P)Baa2, senior unsecured), Public Service Electric and Gas
Company (Baa1 senior unsecured) and PSEG Power LLC (Baa1 senior
unsecured) are unchanged and their rating outlooks remain stable.

These ratings were withdrawn:

Outlook Actions:

Issuer: PSEG Energy Holdings L.L.C.

  -- Outlook, Changed To Rating Withdrawn From Stable

Withdrawals:

Issuer: PSEG Energy Holdings L.L.C.

  -- Probability of Default Rating, Withdrawn, previously rated
     Ba3

  -- Corporate Family Rating, Withdrawn, previously rated Ba3

  -- Senior Unsecured Regular Bond/Debenture, Withdrawn,
     previously rated Ba3, LGD4, 50%

The previous rating action occurred on June 25, 2008, when Energy
Holdings' ratings were affirmed and its rating outlook was revised
to stable from negative.

Energy Holdings' ratings were assigned by evaluating factors
believed to be relevant to the credit profile of the issuer such
as i) its business risk and competitive position, ii) its capital
structure and financial risk, iii) its projected financial
performance over the near to intermediate term and iv) its
position and role in the within the PSEG corporate group.

PSEG Energy Holdings L.L.C. is a 100% owned subsidiary of Public
Service Enterprise Group Incorporated.  Headquartered in Newark,
New Jersey, Public Service Enterprise Group Incorporated is a
diversified energy company.


QWEST COMMS: To Purchase 3.5% Convertible Senior Notes
------------------------------------------------------
Qwest Communications International Inc. launched a cash tender
offer to purchase any and all of its outstanding 3.50% Convertible
Senior Notes due 2025 upon the terms and subject to the conditions
set forth in the Company's Offer to Purchase, dated July 13, 2010,
and the related Letter of Transmittal.

The Offer will expire at 5:00 p.m., New York City time, on
Thursday, August 12, 2010, unless the Offer is extended or
earlier terminated by the Company.  The Offer is subject to the
satisfaction or waiver of certain conditions, but is not subject
to the receipt of any minimum amount of tenders.  As of July 9,
2010, there were Convertible Notes outstanding in an aggregate
principal amount of $1,265,000,000.

Upon the terms and subject to the conditions of the Offer, holders
of Convertible Notes who validly tender and do not validly
withdraw their Convertible Notes at or prior to 5:00 p.m., New
York City time, on the Expiration Date, will receive, for each
$1,000 principal amount of such Convertible Notes, a cash purchase
price equal to the sum of:

     i) the Average VWAP of the Company's common stock multiplied
        by 206.3354 plus

    ii) a fixed cash amount of $30.00, provided that in no event
        will the purchase price be less than $1,000.00 or more
        than $1,170.00 per $1,000 principal amount of such
        Convertible Notes.

In addition, holders will receive in respect of their Convertible
Notes that are accepted for purchase accrued and unpaid interest
on such Convertible Notes to, but excluding, the settlement date
of the Offer.

"Average VWAP" is the arithmetic average of the daily volume
weighted average price per share of the Company's common stock on
the New York Stock Exchange on each trading day during the period
of 20 consecutive trading days beginning on July 14, 2010 and
ending on August 10, 2010.  The per share volume weighted average
price of the Company's common stock for a given day is shown on
the Bloomberg Q.NAQR page.

Prior to determining the final purchase price, an indicative
purchase price will be posted on the website www.gbsc-
usa.com/Qwest and will be available from the Information Agent for
the offer.  The Company will determine the final purchase price
promptly after the close of trading on the New York Stock Exchange
on August 10, 2010.  The final purchase price also will be posted
on the above-mentioned website and available from the Information
Agent.

Additional terms and conditions of the Offer are set forth in the
Offer to Purchase and the Letter of Transmittal.

                    Special Stockholder Meeting

The Company it will hold a special stockholder meeting on Tuesday,
August 24, 2010, at the Denver Marriott City Center. The Company's
stockholders will vote on a proposal to adopt the merger agreement
with CenturyLink, Inc.  The record date for determining the
stockholders entitled to vote at the meeting is July 13, 2010.

                           About Qwest

Based in Denver, Colorado, Qwest Communications (NYSE: Q) --
http://www.qwest.com/-- offers residential customers a new
generation of fiber-optic Internet service, high-speed Internet
solutions, as well as digital home phone, wireless service
available through Verizon Wireless and DIRECTV services.  Qwest is
also the choice of 95 percent of Fortune 500 companies, offering a
full suite of network, data and voice services for small
businesses, large businesses, government agencies and wholesale
customers.  Additionally, Qwest participates in Networx, the
largest communications services contract in the world, and is
recognized as a leader in the network services market by leading
technology industry analyst firms.

At March 31, 2010, the Company had total assets of $19.362 billion
from total liabilities of $20.482 billion, resulting in
stockholders' deficit of $1.120 billion.  The March 31 balance
sheet also showed strained liquidity: The Company had total
current assets of $4.005 billion from total current liabilities of
$4.590 billion.


R & S HEATING: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: R & S Heating & Air Conditioning
        12600 Creek View Avenue
        Savage, MN 55378
        Tel: (952) 894-0376

Bankruptcy Case No.: 10-35110

Chapter 11 Petition Date: July 13, 2010

Court: United States Bankruptcy Court
       District of Minnesota (St. Paul)

Judge: Gregory F. Kishel

Debtor's Counsel: Joseph Anthony Wentzell, Esq.
                  Wentzell Law Office, PLLC
                  2812 Anthony Lane S
                  St. Anthony, MN 55418
                  Tel: (612) 436-3292
                  Fax: (612) 788-9879
                  E-mail: jwentzell@fosterbrever.com

Scheduled Assets: $2,708,322

Scheduled Debts: $1,118,189

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/mnb10-35110.pdf

The petition was signed by Jessica Thielen, president.


RADIENT PHARMACEUTICALS: Enters Letter of Intent to Buy Provista
----------------------------------------------------------------
Radient Pharmaceuticals Corporation has entered into a letter of
intent to acquire Provista Diagnostics Inc., a Nevada corporation
offering laboratory testing services that meet the Clinical
Laboratory Improvement Act guidelines.

Radient Pharmaceuticals intends to acquire PDI, in a stock-for-
stock transaction, when respective due diligence for both
companies is successfully completed.  The rationale for the merger
is that PDI has all rights, patents and trademarks for diagnostic
technologies that Radient Pharmaceuticals believes will strengthen
and complement its core business.  Pursuant to the LOI, Provista
will become a wholly-owned subsidiary of Radient Pharmaceuticals.

The closing of the transaction is subject to customary closing
conditions, including Radient Pharmaceuticals' shareholder
approval and securing satisfactory legal and operational due
diligence by both companies.  Radient Pharmaceuticals and Provista
Diagnostics have sixty days to complete due diligence and agree to
close the merger within the following ninety days, unless both
parties mutually agree to extend the closing date for the purposes
of receiving required shareholder approval.  If the conditions to
be satisfied are not fully met in a timely fashion, the merger
contemplated by the LOI may not occur.

Provista Diagnostics Inc. is a healthcare and biotechnology
development company located in Phoenix, Arizona, that provides
innovative tests for early disease detection to medical
professionals and patients.  The Company's product portfolio
includes:

   * BT Test -- a diagnostic blood test that detects and measures
     the levels of key biomarkers that are associated with breast
     cancer.

   * LymPro Test -- a blood test designed to work with traditional
     diagnostic methods to assist doctors in a more timely and
     accurate diagnosis of Alzheimer's disease.

   * RCP Test -- a diagnostic blood test for the possible
     presence of ovarian, uterine, and cervical cancer in women.

   * REDx -- a diagnostic blood test to screen for Mild Cognitive
     Impairment, Alzheimer's disease and other forms of dementia.

"The goal of this proposed merger is to build a more identifiable,
broader and more profitable IVD testing business.  The proposed
merger represents a unique and high-value opportunity to expand
CLIA testing services, test kit commercialization and research &
development efforts for both RPC and PDI," said Douglas MacLellan,
Chairman and CEO of Radient Pharmaceuticals.  "PDI has established
itself in the area of cancer diagnostics and CLIA laboratory
testing, and the company's scientific leadership and expertise
represents a strong strategic fit with RPC's existing
organization.  We look forward to aggressively advancing product
commercialization, specifically as it relates to RPC's Onko-Sure
IVD cancer test in partnership with PDI."

"We are pleased at the prospect of joining and look forward to
partnering with RPC to deliver on the promise of potentially life-
saving cancer testing services and products to the medical and
healthcare industry," said William Gartner, President and CEO of
PDI.  "Furthermore, we believe our combined knowledge, experience
and product portfolio will offer significant market value."

                 About Radient Pharmaceuticals

Headquartered in Tustin, Calif., Radient Pharmaceuticals
Corporation -- http://www.Radient-Pharma.com/-- is an integrated
pharmaceutical company devoted to the research, development,
manufacturing, and marketing of diagnostic, and premium skin care
products.

                          *     *     *

As reported in the Troubled Company Reporter on April 19, 2010,
KMJ Corbin & Company LLP, in Costa Mesa, Calif., expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that the Company
has incurred a significant operating loss and negative cash flows
from operations in 2009 and has a working capital deficit of
roughly $4.2 million at December 31, 2009.


RADIO ONE: S&P Changes Outlook on 'CCC+' Rating to Developing
-------------------------------------------------------------
Standard & Poor's Ratings Services revised the CreditWatch
implications on its 'CCC+' corporate credit rating for Lanham,
Maryland-based radio broadcaster Radio One Inc. to developing from
positive.

"The revised CreditWatch implications reflect delays and
uncertainty in the ultimate outcome of the company's proposal to
refinance its capital structure and acquire a controlling stake in
TV One LLC, an African-American targeted cable TV network,"
explained Standard & Poor's credit analyst Michael Altberg.  "If
the company succeeds in refinancing its capital structure, key
rating considerations for an upgrade will include pro forma
leverage, EBITDA coverage of interest, discretionary cash flow
generation, and the ownership structure of TV One.  S&P could
lower the rating if the company is unable to resolve its financing
needs prior to the end of its forbearance agreement, which expires
Aug. 13, 2010."

At the same time, S&P has placed its 'BB-' issue-level rating on
Radio One's proposed $400 million senior secured credit facility
and its 'CCC+' issue-level rating on the company's proposed
unsecured exchange notes due 2017 on CreditWatch with negative
implications.  These actions reflect the possibility that S&P may
lower these ratings based on the financial risk associated with
the ultimate capital structure.  The proposed senior secured
credit facility consists of a $50 million revolving credit
facility due 2014 and a $350 million term loan B, which matures in
seven years.

In addition, S&P has withdrawn its 'CCC+' issue-level rating and
recovery rating of '6' on the company's previously proposed
$100 million secured second-lien notes due 2016, proceeds of which
had been intended to acquire an additional 19.4% stake in TV One
LLC.

The revision of S&P's CreditWatch listing is based on uncertainty
surrounding the outcome of the company's refinancing plans,
following the extension of its exchange offer for its existing
8.875% senior subordinated and 6.375% senior subordinated notes
and the withdrawal of its subscription offer for its proposed
8.5%/9.0% second-lien grid notes.  The company is currently
subject to a forbearance agreement with existing bank lenders with
respect to events of default under its total leverage covenant as
of July 1, 2010.  If the company is unable to refinance its 8.875%
senior subordinated notes, its existing facility will mature on
Jan. 1, 2011.  In addition, S&P is currently uncertain about the
company's funding strategy to acquire a controlling interest in TV
One LLC.  S&P had viewed the consolidation as a positive factor to
help diversify the company's business mix and provide a more
stable revenue stream.

In resolving the CreditWatch listing, S&P will review the
company's progress in refinancing its existing subordinated notes
and credit facility, as well as its new funding strategy to
acquire a controlling interest in TV One.


RASER TECHNOLOGIES: Lenders Waive Payments on Power Plant Loan
--------------------------------------------------------------
Raser Technologies, Inc., on July 9, 2010, entered into an
Amendment, Consent and Forbearance Agreement with Thermo No. 1
BE-01, LLC, The Prudential Insurance Company of America, Zurich
American Insurance Company and Deutsche Bank Trust Company
Americas relating to the repayment of a substantial portion of the
debt financing for the Thermo No. 1 geothermal power plant.

In connection with the Forbearance Agreement, on July 9, 2010,
Thermo and Deutsche Bank entered into a Second Amendment to
Account and Security Agreement.

Pursuant to the Amendments, the lenders of the debt financing for
the Thermo No. 1 Plant will receive an immediate payment of $27
million out of Thermo No. 1 Plant escrow accounts and will waive
compliance with applicable debt-related covenants and obligations
for the next year.  During the next year, but no later than
June 29, 2011, the lenders are entitled to receive an additional
payment of up to $6 million plus the expenses of the
administrative lender and agents.

The Amendments contemplate that the Company will satisfy the
Additional Payment using proceeds from the sale of all or part of
its interest in the Thermo No. 1 Plant, but the Amendments permit
the Company to satisfy the Additional Payment by using cash from
other sources, if available.  If the sale includes all of the
Company's interests in the Thermo No. 1 Plant, the lenders are
entitled to receive 50% of the proceeds of such a sale up to a
maximum of $6 million plus the expenses of the administrative
lender and agents.  If the sale includes only a portion of the
Company's interests in the Thermo No. 1 Plant, the Company is
obligated to pay the lenders $6 million plus the expenses of the
administrative lender and agents.  After providing for the $27
million payment to the lenders, approximately $3 million currently
in the Thermo No. 1 Plant escrow account will remain in escrow and
be used for the operation of the Thermo No. 1 Plant and other
related expenses.  The Thermo No. 1 Plant is currently producing a
little over six megawatts available for sale.

The Company entered into a non-binding Memorandum of Understanding
on June 28, 2010 with Hyundai Heavy Industries Co. Ltd.  The non-
binding MOU reflects the Company's and Hyundai's intent to
collaborate to jointly develop renewable energy and electric
vehicles.  The MOU is subject to termination for any reason upon
thirty days prior written notice, and the MOU terminates
automatically on December 31, 2010 if the Company and Hyundai are
unable to reach a definitive, binding agreement relating to the
terms specified in the MOU.

Raser -- http://www.rasertech.com/-- is an energy technology
company focused on geothermal power development and technology
licensing.  Raser's Power Systems segment is seeking to develop
clean, renewable geothermal electric power plants and bottom-
cycling.  Raser's Transportation & Industrial segment focuses on
extended-range plug-in-hybrid vehicle solutions and using Raser's
award-winning Symetron(TM) technology.


REID ELAM: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Joint Debtors: Reid P. Elam
               Susan K. Elam
               2162 Gunnison Place
               Henderson, NV 89044

Bankruptcy Case No.: 10-22994

Chapter 11 Petition Date: July 13, 2010

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

Judge: Linda B. Riegle

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

Scheduled Assets: $1,229,060

Scheduled Debts: $1,548,668

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nvb10-22994.pdf

The petition was signed by the Joint Debtors.


RIVER BOTTOM: Case Summary & 16 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: River Bottom Cattle Company, LLC
        P.O. Box 96
        Mobridge, SD 57601

Bankruptcy Case No.: 10-30050

Chapter 11 Petition Date: July 13, 2010

Court: United States Bankruptcy Court
       District of South Dakota (Central (Pierre))

Judge: Charles L. Nail, Jr.

Debtor's Counsel: Clair R. Gerry, Esq.
                  Gerry & Kulm Ask, Prof LLC
                  P.O. Box 966
                  Sioux Falls, SD 57101-0966
                  Tel: (605) 336-6400
                  E-mail: gerry@sgsllc.com

Scheduled Assets: $4,869,000

Scheduled Debts; $2,796,000

A list of the Company's 16 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/sdb10-30050.pdf

The petition was signed by Kent Wientjes, president.


RIVIERA HOLDINGS: Files Reorganization Plan & Disclosure Statement
------------------------------------------------------------------
Riviera Holdings Corporation, et al., have filed a Plan of
Reorganization and disclosure statement with the U.S. Bankruptcy
Court for the District of Nevada.

Under the Plan, administrative claims and priority tax claims will
be paid in full.

Copies of the Plan and disclosure statement are available for free
at:

        http://bankrupt.com/misc/RIVIERA_HOLDINGS_ds.pdf
        http://bankrupt.com/misc/RIVIERA_HOLDINGS_plan.pdf

With respect to classified claims:

   Classification                            Treatment
   --------------                            ---------
Class 1 - Other Priority Claims     Unimpaired; paid in full in
                                    cash

Class 2 - Other Secured Claims      Unimpaired; paid in full in
                                    cash or otherwise left
                                    unimpaired

Class 3 - General Unsecured Claims  Impaired; paid in full in cash
                                    not to exceed $3,000;

Class 4 - First Priority Senior
          Secured Claims            Impaired; pro rate share of
                                    the $50,000 Series A Term Loan

Class 5   Senior Secured Claims     Impaired; dependant on whether
                                    the Total New Money Investment
                                    Alternative is effectuated or
                                    the Partial New Money
                                    Investment Alternative is
                                    effectuated.  Pro rata share
                                    of the $50,000 Series A Term
                                    Loan less the portion received
                                    by the First Priority Senior
                                    Secured Lenders, and pro rata
                                    of a portion of the Class B
                                    Shares

Class 6 - 510(b) Claims             Impaired; no distribution

Class 7 - Intercompany Claims       Impaired or unimpaired;
                                    reinstated, in full or in part
                                    or cancelled in full or in
                                    part, at the option of the
                                    Debtors

Class 8 - Equity Interests in RHC   Impaired; no distribution

Class 9 - Intercompany Equity
          Interests                 Unimpaired; interests remain
                                    unaltered

                      About Riviera Holdings

Riviera Holdings, through its wholly-owned subsidiary, Riviera
Operating Corporation, owns and operates the Riviera Hotel &
Casino located in Las Vegas, Nevada, which consists of a hotel
comprised of five towers with 2,075 guest rooms, including 177
suites, and which has traditional Las Vegas-style gaming,
entertainment and other amenities.

In addition, Riviera Holdings, through its wholly-owned
subsidiary, Riviera Black Hawk, Inc., owns and operates the
Riviera Black Hawk Casino, a casino in Black Hawk, Colorado and
has various non-gaming amenities, including parking, buffet-styled
restaurant, delicatessen, a casino bar and a ballroom.

Riviera Holdings together with the two affiliates filed for
Chapter 11 on July 12 in Las Vegas, Nevada (Bankr. D. Nev. Case
No. 10-22910).  Riviera Holdings' petition listed assets and debts
of $100 million to $500 million. Attorneys at Gordon Silver
represent the Debtors in the Chapter 11 cases.


RIVIERA HOLDINGS: Gets Court's Interim Nod to Use Cash Collateral
-----------------------------------------------------------------
Riviera Holdings Corporation, et al., sought and obtained interim
authorization from the Hon. Linda B. Riegle of the U.S. bankruptcy
Court for the District of Nevada to use the cash collateral
securing their obligation to the senior secured creditors and
Cantor Fitzgerald Securities.

The Agent, on behalf of the Senior Secured Creditors, claims
valid, binding, enforceable and perfected first priority security
interests and liens in (i) all or substantially all of Debtors'
existing and after-acquired personal property, pursuant to that
certain Senior Credit Facility Security Agreement; (ii) the ROC
Pledged Equity Interests; (iii) the Other Pledged Equity Interest;
and (iv) the Mortgage Instruments.

On June 8, 2007, Riviera, as borrower, and ROC, RBH and Riviera
Gaming Management of Colorado, Inc., a Colorado corporation, as
guarantors, entered into that certain Credit Agreement with the
lenders party thereto, with the Original Agent, which prior to the
Petition Date provided for, among other things, a revolving credit
facility of up to a maximum of $20,000,000 and a $225,000,000 term
loan.  As of the Petition Date, the Debtors' principal obligations
outstanding under the Senior Credit Facility were $2,500,000 in
respect of the revolving loans made under the revolving credit
facility and $225,000,000 in respect of the term loan, plus
accrued and unpaid interest, fees, costs and expenses under the
Credit Agreement to the Petition Date in the amount of
$20,271,523.

On March 31, 2007, Riviera and Wachovia Bank, National
Association, entered into the ISDA Master Agreement (together with
all amendments, supplements, or modifications, the Secured Hedging
Agreement), pursuant to which the parties entered into an interest
rate swap effective May 31, 2007.  Prior to the Petition Date,
Wachovia terminated the Secured Hedging Agreement and participated
its position thereunder to Cerberus Series Four Holdings, LLC (the
Prepetition Secured Counterparty, and together with the
Prepetition Secured Lenders, the Senior Secured Creditors).  As of
the Petition Date, the Debtors owed obligations outstanding under
the Secured Hedging Agreement in the amount of $27,861,252.

Gerald M. Gordon, Esq, and Thomas H. Fell, Esq., at Gordon Silver,
the attorneys for the Debtors, explained that the Debtors need the
money to fund their Chapter 11 case, pay suppliers and other
parties.  The Debtors will use the collateral pursuant to a
budget, a copy of which is available for free at:

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

In exchange for using the cash collateral, the Debtors propose to:
(i) grant the Agent and the Senior Secured Creditors replacement
liens in the collateral, which will be senior and prior to all
other interests or liens whatsoever in or on the collateral
subject only to the carve out; (ii) grant the Agent and the Senior
Secured Creditors allowed administrative expense Superpriority
Claims; (iii) provide payment in full in cash on a monthly basis
for the reasonable fees of certain professionals of the Agent and
the Designated Consenting Lenders during the course of the Chapter
11 Cases; and (iv) comply with certain reporting, notice, and
insurance requirements.

The Court has set a final hearing for August 5, 2010, at
11:00 a.m. on the Debtor's request to use cash collateral.

                      About Riviera Holdings

Riviera Holdings, through its wholly-owned subsidiary, Riviera
Operating Corporation, owns and operates the Riviera Hotel &
Casino located in Las Vegas, Nevada, which consists of a hotel
comprised of five towers with 2,075 guest rooms, including 177
suites, and which has traditional Las Vegas-style gaming,
entertainment and other amenities.

In addition, Riviera Holdings, through its wholly-owned
subsidiary, Riviera Black Hawk, Inc., owns and operates the
Riviera Black Hawk Casino, a casino in Black Hawk, Colorado and
has various non-gaming amenities, including parking, buffet-styled
restaurant, delicatessen, a casino bar and a ballroom.

Riviera Holdings together with the two affiliates filed for
Chapter 11 on July 12 in Las Vegas, Nevada (Bankr. D. Nev. Case
No. 10-22910).  Riviera Holdings' petition listed assets and debts
of $100 million to $500 million. Attorneys at Gordon Silver
represent the Debtors in the Chapter 11 cases.


RIVIERA HOLDINGS: Gets Nod to Hire Garden City as Claims Agent
--------------------------------------------------------------
Riviera Holdings Corporation, et al., sought and obtained
authorization from the Hon. Linda B. Riegle of the U.S. Bankruptcy
Court for the District of Nevada to employ The Garden City Group,
Inc., as claims and noticing agent.

GCG will, among other things:

     a. prepare and serve all required notices in these Chapter 11
        cases;

     b. administer claims, and maintain of claims registers;

     c. acting as balloting agent; and

     d. provide these additional services: (i) maintain a
        telephone hotline to handle inquiries relating to
        procedures for filing proofs of claim and general case
        information and (ii) assist the Debtors and their
        professionals with (a) the preparation and maintenance of
        the list of all creditors and those entities filing a
        request for notice and (b) the formatting and filing of
        the Debtors' statements of financial affairs and schedules
        of assets and liabilities.

GCG will be compensated based on its Engagement Agreement with the
Debtors.  A copy of the Agreement wasn't provided.

To the best of the Debtors' knowledge, GCG is "disinterested" as
that term is defined in Section 101(14) of the Bankruptcy Code.

                      About Riviera Holdings

Riviera Holdings, through its wholly-owned subsidiary, Riviera
Operating Corporation, owns and operates the Riviera Hotel &
Casino located in Las Vegas, Nevada, which consists of a hotel
comprised of five towers with 2,075 guest rooms, including 177
suites, and which has traditional Las Vegas-style gaming,
entertainment and other amenities.

In addition, Riviera Holdings, through its wholly-owned
subsidiary, Riviera Black Hawk, Inc., owns and operates the
Riviera Black Hawk Casino, a casino in Black Hawk, Colorado and
has various non-gaming amenities, including parking, buffet-styled
restaurant, delicatessen, a casino bar and a ballroom.

Riviera Holdings together with the two affiliates filed for
Chapter 11 on July 12 in Las Vegas, Nevada (Bankr. D. Nev. Case
No. 10-22910).  Riviera Holdings' petition listed assets and debts
of $100 million to $500 million. Attorneys at Gordon Silver
represent the Debtors in the Chapter 11 cases.


SALT LAKE: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor: Salt Lake Wound Care and Hyperbaric Center, LLC
        dba Salt Lake Wound Care
        3949 South 700 East, Suite 180
        Salt Lake City, UT 84107

Bankruptcy Case No.: 10-29603

Chapter 11 Petition Date: July 16, 2010

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

Judge: Joel T. Marker

Debtor's Counsel: Nathan W. Drage, Esq.
                  35 West Broadway, Suite 104
                  Salt Lake City, UT 84101
                  Tel: (801) 519-9300

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 Richard Mucha, manager.


SATER INC: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Sater Inc.
        fdba Taylor Rental Center
        dba Savage Rental
        P.O. Box 80029
        Shreveport, LA 71108

Bankruptcy Case No.: 10-12088

Chapter 11 Petition Date: July 16, 2010

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

Debtor's Counsel: Robert W. Raley, Esq.
                  290 Benton Road Spur
                  Bossier City, LA 71111
                  Tel: (318) 747-2230
                  Fax: (318) 747-0106
                  E-mail: rraley52@bellsouth.net

Scheduled Assets: $371,389

Scheduled Debts: $3,580,148

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/lawb10-12088.pdf

The petition was signed by Lee O. Savage, Jr., company's
president.


SEQUENOM INC: Mishandling of Test Delays Test for Trisomy 21
------------------------------------------------------------
Sequenom Inc. said on April 29, 2009, that the expected launch of
its noninvasive prenatal test for Trisomy 21 (Down syndrome) had
been delayed due to the discovery of employee mishandling of test
data and results and that it was no longer relying on its
previously announced test data and results for that test.

The company said. "[Its board of directors had formed a special
committee of independent directors to oversee an independent
investigation of the employees' activity related to the test data
and results.  On September 28, 2009, we announced the results of
this investigation, including findings that:

   * the test data and results in our Trisomy 21 program included
     inadequately substantiated claims, inconsistencies and
     errors;

   * we failed to put in place adequate protocols and controls for
     the conduct of studies in the Trisomy 21 program at our
     company;

   * certain employees failed to provide adequate supervision; and

   * we failed to have adequate disclosure controls and procedures
     in place.

"We terminated the employment of our Chief Executive Officer,
Harry Stylli, our Senior Vice President, Research and Development,
Elizabeth Dragon, and other employees.  At that time, we again
advised investors that our previously announced test data and
results from our Trisomy 21 program should no longer be relied
upon," the company said.

On June 2, 2010, the Securities and Exchange Commission filed a
complaint against Dr. Dragon.  The complaint alleges that Dr.
Dragon made or allowed for the dissemination of materially false
and misleading statements regarding our Trisomy 21 test under
development, thereby inflating the price of our stock.  The SEC
sought a permanent injunction against any future violations of the
federal securities laws by Dr. Dragon, civil penalties, and
imposition of an officer and director bar against her.  On the
same day, Dr. Dragon filed a consent to judgment of permanent
injunction and other relief.  In the consent to judgment, Dr.
Dragon, without admitting or denying the allegations in the SEC's
complaint, agreed to the permanent injunction against future
violations of federal securities laws, the director and officer
bar, and civil penalties to be determined by the court.

On June 2, 2010, the U.S. Attorney for the Southern District of
California filed a criminal information against Dr. Dragon.  The
criminal information charges Dr. Dragon with one count of
conspiracy to commit securities fraud by conspiring to disseminate
materially false and misleading statements regarding our Trisomy
21 test under development.  On the same day, Dr. Dragon pled
guilty to the criminal information, and the magistrate judge
assigned to this matter recommended that the district court judge
accept Dr. Dragon's guilty plea.

A full-text copy of the complaint for violation is available for
free at http://ResearchArchives.com/t/s?667c

Full-text copies of the criminal information, the guilty plea and
the findings and recommendation of the magistrate judge are
available for free at:

               http://ResearchArchives.com/t/s?667d
               http://ResearchArchives.com/t/s?667e
               http://ResearchArchives.com/t/s?667f

                         About Sequenom

Sequenom, Inc. (NASDAQ: SQNM) -- http://www.sequenom.com/-- is a
life sciences company committed to improving healthcare through
revolutionary genetic analysis solutions. Sequenom develops
innovative technology, products and diagnostic tests that target
and serve discovery and clinical research, and molecular
diagnostics markets. The company was founded in 1994 and is
headquartered in San Diego, California.

The Company's balance sheet for March 31, 2010, showed
$70.6 million total assets and $15.5 million total current
liabilities, for a $50.0 million stockholders' equity.

Ernst & Young LLP of San Diego, California, has expressed
substantial doubt against Sequenom's ability as a going concern.
The auditor noted that the Company has incurred recurring
operating losses and does not have sufficient working capital to
fund operations through 2010.


SERMO GROUP: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Sermo Group LLC
        69-27 66th Road
        Middle Village, NY 11379

Bankruptcy Case No.: 10-46562

Chapter 11 Petition Date: July 13, 2010

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

Judge: Elizabeth S. Stong

Debtor's Counsel: Vincent Spata, Esq.
                  8118 13th Avenue
                  Brooklyn, NY 11228
                  Tel: (718) 928-9406

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 Frank Sercia, company's president.


SHERIDAN GROUP: Moody's Retains Stable Outlook on 'B2' Rating
-------------------------------------------------------------
Moody's Investors Service commented that the ratings outlook of
The Sheridan Group, Inc., remains stable at the B2 corporate
family rating level.  The stable ratings outlook assumes the
company extends its maturity profile, and inability to do so in a
timely manner could result in an outlook revision.

Sheridan's revolver (no borrowings as of March 31, 2010) matures
in March 2011 and its bonds (approximately $143 million
outstanding as of March 31, 2010) in August 2011, posing
refinancing risk.  The company's recent debt reduction and
positive free cash flow improve its refinancing prospects, in
Moody's opinion.  However, Moody's considers leverage of 3.7 times
debt-to-EBITDA (as per Moody's standard adjustments) high in light
of the industry's weak growth prospects.

Sheridan's liquidity remains adequate, supported by internally
generated cash flow and the approximately $4.5 million of balance
sheet cash as of March 31, 2010.  The ability to service debt with
internal sources over the next year is key to Moody's assessment
given the March 2011 maturity of the revolver.

The last rating action on Sheridan was the affirmation of the
ratings and stable outlook on August 9, 2007.

The Sheridan Group Inc.'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
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 Sheridan's core industry and Sheridan's ratings are
believed to be comparable to those of other issuers of similar
credit risk.

Headquartered in Hunt Valley, Maryland, The Sheridan Group offers
printing services to the journal, catalog, magazine, book and
article reprint markets.  Its annual sales are approximately
$300 million.


SHERWOOD FARMS: Has Until Tomorrow to Propose Reorganization Plan
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida
extended until tomorrow, July 23, 2010, Sherwood Farms, Inc.'s
exclusive period to file a plan of reorganization.

Groveland, Florida-based Sherwood Farms, Inc., is a grower and
wholesaler of orchids.  Sherwood said owes $7 million to first and
second-lien lenders.  Sherwood said in a filing that cash,
accounts receivable, inventory, and real property are worth
$8 million.

The Company filed for Chapter 11 bankruptcy protection on
January 15, 2010 (Bankr. M.D. Fla. Case No. 10-00578).  Mariane L.
Dorris, Esq., at Latham Shuker Eden & Beaudine LLP, assists the
Company in its restructuring effort.  The Company listed
$10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.

The Company's affiliate, Sherwood Investments Overseas Limited
Incorporated, filed a separate Chapter 11 petition.


SMURFIT-STONE: Proposes Reserve Amount for Carroll Claim
--------------------------------------------------------
Richard Carroll filed a $10,100,000 claim against Smurfit-Stone.
In one of their notices, the Debtors established $1,200,000 for
Mr. Carroll's claim.

In the Response, Mr. Carroll noted that he objects to the
Debtors' Chapter 11 Plan to the extent the Plan works to disallow
the Claim unless he files a motion seeking allowance or
estimation of his Claim prior to the Confirmation Hearing.  He
also argued that when he filed the Claim, there were no
objections made by the Debtors.  Therefore, he shouldn't be
required to file a request to estimate the Claim and the amount
should remain at $10,100,000.

After Mr. Carroll filed the Response, the Debtors and Mr. Carroll
worked together and resolved the issues between them through a
proposed order.

The Court subsequently entered the Proposed Order, pursuant to
which the Distribution Reserve Amount for the Carroll Claim is
increased from $1,200,000 to $2,000,000.

The Order also provides that Mr. Carroll is not prejudiced from
seeking payment from available insurance policy proceeds to the
extent the Carroll Claim is liquidated in an amount that exceeds
the Reserve Amount, as the Reserve Amount is equal to the
Debtors' self-insured retention, and does not include any of the
Debtors' insurance policies whose proceeds would cover awards in
excess of the Reserve Amount.

                      About Smurfit-Stone

Smurfit-Stone Container Corp. -- http://www.smurfit-stone.com/--
is one of the leading integrated manufacturers of paperboard and
paper-based packaging in North America and one of the world's
largest paper recyclers.  The Company operates 162 manufacturing
facilities that are primarily located in the United States and
Canada.  The Company also owns roughly one million acres of
timberland in Canada and operates wood harvesting facilities in
Canada and the United States.  The Company employs roughly 21,250
employees, 17,400 of which are based in the United States.  For
the quarterly period ended September 30, 2008, the Company
reported roughly US$7.450 billion in total assets and
US$5.582 billion in total liabilities on a consolidated basis.

Smurfit-Stone and its U.S. and Canadian subsidiaries filed for
Chapter 11 protection on January 26, 2009 (Bankr. D. Del. Lead
Case No. 09-10235).  Certain of the company's affiliates,
including Smurfit-Stone Container Canada Inc., a wholly owned
subsidiary of SSCE, and certain of its affiliates, filed to
reorganize under the Companies' Creditors Arrangement Act in the
Ontario Superior Court of Justice in Canada.

Smurfit-Stone joined pulp- and paper-related bankruptcies as
rising Internet use hurts magazines and newspapers.  Corporacion
Durango SAB, Mexico's largest papermaker, sought U.S. bankruptcy
in October.  Quebecor World Inc., a magazine printer and Pope &
Talbot Inc., a pulp-mill operator, also sought cross-border
bankruptcies for their operations in the U.S. and Canada.

James F. Conlan, Esq., Matthew A. Clemente, Esq., Dennis M.
Twomey, Esq., and Bojan Guzina, Esq., at Sidley Austin LLP, in
Chicago, Illinois; and Robert S. Brady, Esq., and Edmon L. Morton,
Esq., at Young Conaway Stargatt & Taylor in Wilmington, Delaware,
serve as the Debtors' bankruptcy counsel.  PricewaterhouseCoopers
LLC, serves as the Debtors' financial and investment consultants.
Lazard Freres & Co. LLC acts as the Debtors' investment bankers.
Epiq Bankruptcy Solutions LLC acts as the Debtors' notice and
claims agent.

The company's Plan of Reorganization, which was confirmed by the
U.S. Bankruptcy Court on June 21, 2010, and recognized by a
Canadian court order, became effective July 1.

The Plan provides that 2.25% of the new Smurfit-Stone common stock
pool will be distributed pro rata to the Company's previous
preferred stockholders and 2.25% percent of the New Smurfit-Stone
common stock pool will be distributed pro rata to the Company's
previous common stockholders.


SMURFIT-STONE: Reaches Settlement With California
-------------------------------------------------
During the confirmation process of Smurfit-Stone's Chapter 11 Plan
of Reorganization, the People of the State of California asked
the Court to have their claims estimated at $1,000,000 each.

California filed two claims against the Debtors: Claim No. 4857
against Smurfit-Stone Container Corporation, and Claim No. 4856
against Smurfit-Stone Container Enterprises, Inc.  Both Claims
are based on alleged unfair competition in violation of the
California Business and Professions Code arising from the
Debtors' handling and reporting of workers' compensation claims
and industrial injuries of their employees.

Before the Petition Date, two former employees of Debtor Smurfit-
Stone Container Enterprises, Inc.: David Polk and Douglas
Tetaoka, were tried and plead guilty in the Superior Court of the
State of California for the County of Monterey for engaging in
workers' compensation fraud during their employment.

Despite the Defendants' guilty plea, the District Attorney's
office of Monterey County asserted that the Debtors themselves
could be liable for violations of numerous California laws in the
California Action.

The Parties discussed an amicable resolution and reached a
resolution, pursuant to which California's Claim will be
liquidated and paid in exchange for California's withdrawal of
its objections.

The Settlement was subsequently approved by the Court, and the
Debtors paid these amounts:

  -- $100,000 to the Monterey County District Attorney's Office
     as civil penalties;

  -- $4,293 to the Monterey D.A.'s office as share of
     restitution payable to alleged victims; and

  -- $710 to the Monterey County Superior Court as first
     appearance fees.

In addition, approval of the Settlement also granted California
relief from the automatic stay to file a complaint against the
Debtors in the Superior Court of California.

                      About Smurfit-Stone

Smurfit-Stone Container Corp. -- http://www.smurfit-stone.com/--
is one of the leading integrated manufacturers of paperboard and
paper-based packaging in North America and one of the world's
largest paper recyclers.  The Company operates 162 manufacturing
facilities that are primarily located in the United States and
Canada.  The Company also owns roughly one million acres of
timberland in Canada and operates wood harvesting facilities in
Canada and the United States.  The Company employs roughly 21,250
employees, 17,400 of which are based in the United States.  For
the quarterly period ended September 30, 2008, the Company
reported roughly US$7.450 billion in total assets and
US$5.582 billion in total liabilities on a consolidated basis.

Smurfit-Stone and its U.S. and Canadian subsidiaries filed for
Chapter 11 protection on January 26, 2009 (Bankr. D. Del. Lead
Case No. 09-10235).  Certain of the company's affiliates,
including Smurfit-Stone Container Canada Inc., a wholly owned
subsidiary of SSCE, and certain of its affiliates, filed to
reorganize under the Companies' Creditors Arrangement Act in the
Ontario Superior Court of Justice in Canada.

Smurfit-Stone joined pulp- and paper-related bankruptcies as
rising Internet use hurts magazines and newspapers.  Corporacion
Durango SAB, Mexico's largest papermaker, sought U.S. bankruptcy
in October.  Quebecor World Inc., a magazine printer and Pope &
Talbot Inc., a pulp-mill operator, also sought cross-border
bankruptcies for their operations in the U.S. and Canada.

James F. Conlan, Esq., Matthew A. Clemente, Esq., Dennis M.
Twomey, Esq., and Bojan Guzina, Esq., at Sidley Austin LLP, in
Chicago, Illinois; and Robert S. Brady, Esq., and Edmon L. Morton,
Esq., at Young Conaway Stargatt & Taylor in Wilmington, Delaware,
serve as the Debtors' bankruptcy counsel.  PricewaterhouseCoopers
LLC, serves as the Debtors' financial and investment consultants.
Lazard Freres & Co. LLC acts as the Debtors' investment bankers.
Epiq Bankruptcy Solutions LLC acts as the Debtors' notice and
claims agent.

The company's Plan of Reorganization, which was confirmed by the
U.S. Bankruptcy Court on June 21, 2010, and recognized by a
Canadian court order, became effective July 1.

The Plan provides that 2.25% of the new Smurfit-Stone common stock
pool will be distributed pro rata to the Company's previous
preferred stockholders and 2.25% percent of the New Smurfit-Stone
common stock pool will be distributed pro rata to the Company's
previous common stockholders.


SMURFIT-STONE: SSCC Merges With SSCEI, Issues New Shares
--------------------------------------------------------
Pursuant to the confirmed and declared effective Joint Proposed
Plan of Reorganization and Plan of Compromise and Arrangement and
Disclosure Statement Plan filed by Smurfit-Stone Container
Corporation and its U.S. and Canadian subsidiaries, on the Plan
Effective Date, prior to the distribution of securities, SSCC
merged with and into Smurfit-Stone Container Enterprises, Inc., a
wholly-owned subsidiary of SSCC, with the Company surviving the
merger and becoming "Reorganized SSCC" under the Plan.  In
connection with the Merger, the Company changed its corporate
name to "Smurfit-Stone Container Corporation."

In Form 8-K filed with the Securities and Exchange Commission on
July 7, 2010, the Debtors disclosed that they have entered into a
"Merger Agreement", which also provides that (i) all shares of
common and preferred stock of Old SSCC issued and outstanding
immediately prior to the Merger converted into the right to
receive shares of New SSCC Common Stock of the Company as
provided in the Plan and (ii) all shares of common stock of the
Company issued and outstanding immediately prior to the Merger
and all rights in respect thereof were cancelled.

Furthermore, the certificate of incorporation and bylaws of Old
SSCC in effect immediately prior to the Merger became the
certificate of incorporation and bylaws of the Company and the
directors and officers of Old SSCC immediately prior to the
Merger became the directors and officers of the Company.

Immediately after the Merger, among other things, the Company
issued additional shares of New SSCC Common Stock, certain
directors were appointed to and removed from the Company's Board
of Directors, and the Company amended and restated its
certificate of incorporation and bylaws.

Prior to the Effective Date, Smurfit-Stone Container Canada Inc.
and Smurfit-MBI were the Company's principal Canadian operating
subsidiaries.

Pursuant to the Plan, the Debtors established a newly formed
partnership, Smurfit-Stone Container Canada, L.P. which is
ultimately controlled by New SSCC.  On the Effective Date,
Canadian Newco, SSC Canada, SMBI, MBI Limited/Limitee, BC and
Francobec entered into and consummated the transactions
contemplated by an Asset Purchase Agreement, pursuant to which
Canadian Newco purchased the assets owned by SSC Canada, SMBI, BC
and Francobec and assumed certain liabilities of SSC Canada,
SMBI, BC and Francobec.  The cash consideration paid by Canadian
Newco in the Canadian Asset Sale totaled approximately
$440,800,481, which includes:

  * the repayment of the Prepetition Canadian Revolving Loans;

  * the repayment of the Prepetition Canadian Term Loans;

  * the payment of the Other Secured Claims against SSC Canada,
    SMBI, MBI, BC and Francobec;

  * the payment of the Administrative Expense Claims, Post-
    Filing Claims and the amounts secured by the CCAA Charges;
    and

  * cash in the amount of $19.5 million for each of the SSC
    Canada Distribution Pool and the SMBI Distribution Pool.

In addition, the consideration paid by Canadian Newco in the
Canadian Asset Sale included the assumption by Canadian Newco of
the liabilities of SSC Canada and SMBI under the Canadian
Collective Bargaining Agreements, the Canadian Pension Plans
including all unfunded liabilities and the Canadian Employee
Benefit Plans.

A copy of the SEC filing is available for free at:

              http://researcharchives.com/t/s?66c1

              Smurfit-Stone Stock Falls After Exit

The stocks of Smurfit-Stone Container Corporation fell 11 percent
on its first day of trading in the New York Stock Exchange after
its exit from bankruptcy, Bloomberg News reported.

Shares declined $2.75 to $22 at 4:15 p.m. in NYSE trading,
Bloomberg's July 1 report noted.

Smurfit-Stone stocks are rated new "Underperform" at BMO Capital
Markets by Stephen Atkin, an equity analyst, Bloomberg News
reports.  The target price of the Stocks for a 12-month period is
$20 per share.

Despite the fall of investor confidence evidenced by the low
price of shares, Patrick Moore assures the public that his
company is not looking to sell itself contrary to speculations,
Acquisitions, Tenders & Distressed News reports.

                      About Smurfit-Stone

Smurfit-Stone Container Corp. -- http://www.smurfit-stone.com/--
is one of the leading integrated manufacturers of paperboard and
paper-based packaging in North America and one of the world's
largest paper recyclers.  The Company operates 162 manufacturing
facilities that are primarily located in the United States and
Canada.  The Company also owns roughly one million acres of
timberland in Canada and operates wood harvesting facilities in
Canada and the United States.  The Company employs roughly 21,250
employees, 17,400 of which are based in the United States.  For
the quarterly period ended September 30, 2008, the Company
reported roughly US$7.450 billion in total assets and
US$5.582 billion in total liabilities on a consolidated basis.

Smurfit-Stone and its U.S. and Canadian subsidiaries filed for
Chapter 11 protection on January 26, 2009 (Bankr. D. Del. Lead
Case No. 09-10235).  Certain of the company's affiliates,
including Smurfit-Stone Container Canada Inc., a wholly owned
subsidiary of SSCE, and certain of its affiliates, filed to
reorganize under the Companies' Creditors Arrangement Act in the
Ontario Superior Court of Justice in Canada.

Smurfit-Stone joined pulp- and paper-related bankruptcies as
rising Internet use hurts magazines and newspapers.  Corporacion
Durango SAB, Mexico's largest papermaker, sought U.S. bankruptcy
in October.  Quebecor World Inc., a magazine printer and Pope &
Talbot Inc., a pulp-mill operator, also sought cross-border
bankruptcies for their operations in the U.S. and Canada.

James F. Conlan, Esq., Matthew A. Clemente, Esq., Dennis M.
Twomey, Esq., and Bojan Guzina, Esq., at Sidley Austin LLP, in
Chicago, Illinois; and Robert S. Brady, Esq., and Edmon L. Morton,
Esq., at Young Conaway Stargatt & Taylor in Wilmington, Delaware,
serve as the Debtors' bankruptcy counsel.  PricewaterhouseCoopers
LLC, serves as the Debtors' financial and investment consultants.
Lazard Freres & Co. LLC acts as the Debtors' investment bankers.
Epiq Bankruptcy Solutions LLC acts as the Debtors' notice and
claims agent.

The company's Plan of Reorganization, which was confirmed by the
U.S. Bankruptcy Court on June 21, 2010, and recognized by a
Canadian court order, became effective July 1.

The Plan provides that 2.25% of the new Smurfit-Stone common stock
pool will be distributed pro rata to the Company's previous
preferred stockholders and 2.25% percent of the New Smurfit-Stone
common stock pool will be distributed pro rata to the Company's
previous common stockholders.


STONEWALL STALLIONS: Files for Bankruptcy Under Chapter 11
----------------------------------------------------------
Ron Mitchell at Bloodhorse.com reports that Stonewall Stallions
filed for bankruptcy under Chapter 11 following a lawsuit filed by
JPMorgan Chase claiming that the company has defaulted on more
than $7 million in loans.

The bankruptcy filing, according to the report, blocked the
appointed of a receiver to manage the company.

Stonewall Stallion operates a thoroughbred stallion farm.


STRATOS GLOBAL: S&P Withdraws Long-Term Issuer & Debt Ratings
-------------------------------------------------------------
Standard & Poor's Ratings Services said it withdrew all its long-
term issuer and debt ratings, and recovery ratings on Canada-based
satellite communications provider Stratos Global Corp.

In April 2009, Standard & Poor's Ratings Services said it raised
its long-term corporate credit rating on Newfoundland-based
satellite communications provider Stratos Global Corp. two notches
to 'BB' from 'B+'.

The withdrawal follows the repayment of all of Stratos'
outstanding debt in June 2010, and is in accordance with the
company's request.  As it had announced in May, Stratos' parent
company, Inmarsat PLC (indirect owner of Inmarsat Holdings Ltd.;
BB+/Stable/--), has repaid all of Stratos' debt ahead of a
reorganization plan that includes making Stratos an indirect 100%-
owned subsidiary of Inmarsat Group Ltd., which is the top holding
company in Inmarsat's restricted group, as defined under its
$500 million senior secured facilities and its $650 million
unsecured notes' indentures.

Stratos had about $296 million of gross debt at year-end 2009,
including about $87 million of its originally issued $150 million
unsecured notes, with the remainder held by Inmarsat.


SUDS USA: Case Summary & 9 Largest Unsecured Creditors
------------------------------------------------------
Debtor: Suds USA, LLC
        dba Suds Car Wash
        1541 W Martin Luther King Dr.
        Fayetteville, AR 72701

Bankruptcy Case No.: 10-73710

Chapter 11 Petition Date: July 18, 2010

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

Judge: Ben T. Barry

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

Estimated Assets: $0 to $50,000

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

A list of the Company's 9 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/arwb10-73710.pdf

The petition was signed by Stanely Rogers, manager.


TAGISH LAKE: New Pacific Formally Commences Offer to Acquire Firm
-----------------------------------------------------------------
New Pacific Metals Corp. has commenced its formal offer to
purchase all of the outstanding common shares and secured and
unsecured debt of Tagish Lake Gold Corp.  New Pacific has filed
its take-over bid circular on SEDAR and will mail the Circular to
all Tagish Lake securities holders.

Offer to Shareholders: The Offer permits Tagish Lake shareholders,
for each Tagish Lake share tendered to the Offer to choose
between:

a.  $0.06 per share in cash; or
b.  0.0822 of a New Pacific share, at an implied price of $0.73
    per New Pacific share, being the 20 day volume-weighted
    average closing price of New Pacific shares on the TSX Venture
    Exchange on July 2, 2010 (being the last trading day prior to
    the announcement of New Pacific's intention to make an offer
    to acquire Tagish Lake); or
c.  a combination of 50% in cash and 50% in New Pacific shares
    (the "Combined Election").

New Pacific is concurrently offering to purchase for cash the
approximately $7.4 million in secured and unsecured debt on the
books of Tagish Lake, which would enable Tagish Lake to remove
itself from Companies Creditors Arrangement Act protection from
creditors.

Offer to Secured Creditors: New Pacific is offering to pay Secured
Creditors 100% of their proven claim amounts in cash with no
conditions.  Secured Creditors who accept the offer will be paid
regardless of the outcome of the takeover bid

Offer to Unsecured Creditors: New Pacific is offering to pay
Unsecured Creditors 100% of the value of their proven claim
amounts in cash, subject to certain conditions, including the
minimum tender condition under the takeover bid being satisfied
and New Pacific taking up and paying for common shares under the
Offer.

The Offer for the Tagish Lake common shares represents a premium
of 50% over Tagish Lake's closing share price on July 2, 2010 and
a 50% premium to Tagish Lake's 20-day and year to date VWAP on the
TSXV.

The Offer also represents a premium of approximately 860% over the
value implied in the failed acquisition proposed by YS Mining
Company Inc. for Tagish Lake in 2009.  YS Mining is the principal
secured creditor and a shareholder of Tagish Lake.  The proposed
transaction with YS Mining was approved by the Tagish Lake Board
of Directors and valued Tagish Lake at $0.00625 per share or
$811,375 for the entire company.  The transaction did not receive
approval from the TSXV and was subsequently terminated.

The Offer also saves Tagish Lake from the potential risk of
bankruptcy, or seizure of its Skukum Mineral district properties
by secured creditors, and represents a superior alternative to the
current situation where Tagish Lake management has petitioned the
company into protection under the CCAA.  The CCAA protection
commenced April 9, 2010, and Tagish Lake management have yet to
present a restructuring plan to settle Tagish Lake's debts.

The Honourable Jack Austin, Chairman of New Pacific said:

"We are offering Tagish Lake shareholders a choice: tender to our
offer to receive liquidity, value and certainty or face a risky
future with Tagish Lake, whose plan is expected to involve a debt
restructuring or liquidation of Tagish Lake's principal asset
under the CCAA process.  Tagish Lake shareholders also have the
opportunity to participate in the future development of the Skukum
mineral district if they elect to take New Pacific shares under
the Offer."

Some important considerations for Tagish Lake shareholders
include:

--  YS Mining is a wholly owned subsidiary of Yukon-Shaanxi Mining
    Company, a joint venture between Yukon-Nevada Gold Corp., and
    Northwest Non-Ferrous International Investment Company
    Limited.  In November 2009 YS Mining acquired from Macquarie
    Bank the $1.5 million credit facility secured against the
    Skukum Creek gold property that was then in default.  YS
    Mining also owns as of record approximately 10.8% of the
    Outstanding common shares of Tagish Lake.

--  In contravention of corporate law and TSXV requirements, an
    annual general meeting of the Tagish Lake shareholders has not
    been held since March 2007.  Only Robert Chaffee has actually
    been elected by Tagish Lake shareholders.  All other directors
    were appointed by existing directors.

--  Tagish Lake is now effectively controlled by its principal
    Secured creditor, YS Mining.  Graham Dickson, the CEO and
    President of Tagish Lake, is the President and CEO of YS
    Mining and the COO of Yukon-Nevada Gold Corp, which is a 42%
    joint venture partner in YS Mining.  The Corporate Secretary
    of Tagish Lake is also the Corporate Secretary of Yukon-Nevada
    Gold.

--  All current Board members of Tagish Lake are connected in some
    respect to YS Mining or to YS Mining's 42% shareholder, Yukon-
    Nevada Gold: Messrs. Dickson and Sun are also directors of YS
    Mining; Robert Chafee, Neil Steenberg, and Peter Holbek were
    previously Directors of Yukon-Nevada Gold. On July 6, 2010,
    Tagish Lake announced the appointment of     John H. Resing to
    the Tagish Lake Board.  Messrs. Resing and Chafee were
    management nominees for director of Yukon-Nevada Gold, as set
    out in Yukon-Nevada's April 14, 2010 Information Circular,
    although it does not appear that either was elected. Tagish
    Lake later announced, on July 15, 2010, that concurrently with
    the appointment of Mr. Resing, Ren Xiaohua, who is currently a
    director of YS Mining, resigned as a director of Tagish Lake
    on or about the same day that Mr. Resing waa appointed to
    the Tagish Lake Board and Mr. Ren resigned, the President of
    Tagish Lake advised New Pacific that an independent committee
    had been formed to consider the Offer. Mr. Resing was
    appointed as the chair of the independent committee.


It appears that the Board of Directors and the management of
Tagish Lake are closely aligned with YS Mining, the principal
creditor and a major shareholder of Tagish Lake.  It is the
current Board and management team that petitioned Tagish Lake into
CCAA protection.

                     Background to the Offer

From late February 2010 until prior to announcing this Offer on
July 5, 2010, New Pacific, through its management and through
intermediaries, attempted to engage Tagish Lake's management or
Directors in discussions regarding a possible transaction.  No
meaningful discussions resulted from these efforts.  On July 2,
New Pacific presented a written proposal to the Board of Tagish
Lake offering to immediately pay off and take an assignment of any
outstanding secured loans and to agree not to enforce any security
for at least one year, in conjunction with a friendly acquisition
of Tagish Lake at $0.06 per common share, pursuant to a statutory
Plan of Arrangement.  Mr. Dickson advised New Pacific that Tagish
Lake was unable to respond within the time contemplated in the
proposal, after which New Pacific publicly announced its
intentions in order to comply with applicable law and stock
exchange rules.  Representatives of New Pacific and Tagish Lake
have met since July 5 but were unable to progress discussions
based on the New Pacific proposal, with the Tagish Lake
independent committee taking the position that they were unable to
consider the proposal since it was not a formal offer and did not
include a term sheet.  New Pacific has therefore reluctantly
decided to make its proposal directly to Tagish Lake shareholders
and creditors, although New Pacific remains open to discussions
with the Tagish Lake board, at their discretion.

Once New Pacific is successful in acquiring control of Tagish
Lake, its priority will be to have Tagish Lake removed from CCAA
protection and direct Tagish Lake to make any related court
applications, to call an annual general meeting to elect
directors, to replace current management, to settle all of its
debts, to arrange financing for operating capital, and to use New
Pacific's recognized financing, development and mining expertise
to rapidly advance Tagish Lake's Skukum mineral district
properties towards production.

New Pacific currently holds 14.3 million shares of Tagish Lake,
which were acquired in the market at prevailing prices.  This
represents approximately 9.9% of Tagish Lake's issued and
outstanding shares.  New Pacific may acquire additional Tagish
Lake shares during the course of the bid and if it does so it will
advise the market in accordance with applicable securities laws.

The Offer is open for acceptance until 8:00 p.m. (Vancouver time)
on September 2, 2010 unless it is extended or withdrawn.  The
Offer, and the offer to Unsecured Creditors, is subject to certain
customary conditions including: a minimum tender threshold of 66
2/3% of the Tagish Lake Shares, receipt of all required regulatory
approvals and third-party consents, the absence of any material
adverse change in Tagish Lake; the absence of certain prohibited
activities on the part of Tagish Lake between the date hereof and
the expiry of the Offer; and no untrue statements or omissions in
Tagish Lake's public disclosure.

Investors may obtain a free copy of the Circular and other
documents filed by New Pacific with the Canadian securities
regulators at http://www.sedar.com  The Circular and other
documents may also be obtained for free from New Pacific's website
or by directing a request to New Pacific's investor relations
department by telephone at 1-888-224-1881, fax 604-669-9387 or e-
mail info@newpacificmetals.com : mailto:info@newpacificmetals.com
or by contacting the Information Agent, Kingsdale Shareholder
Services Inc., toll free at 1-888-518-6812.

Secured and Unsecured Creditors of Tagish Lake may obtain more
information by contacting New Pacific at the above phone numbers,
or by email to: debtinfo@newpacificmetals.com  :
mailto:debtinfo@newpacificmetals.com

                     About New Pacific Metals

New Pacific -- http://www.newpacificmetals.com-- is engaged in
the exploration and development of mineral resources, gold-poly-
metallic projects in China and other jurisdictions.  New Pacific
has extensive experience in implementing high grade resource
development projects.


TEXAS RANGERS: Four Groups May Compete with Ryan at Auction
-----------------------------------------------------------
Michael Bathon at Bloomberg News reports that the Texas Rangers
have as many as four potential bidders that may compete in an
auction to buy the baseball team besides a group led by Hall of
Fame pitcher Nolan Ryan, Chief Restructuring Officer William
Snyder said.

According to the report, Houston businessman Jim Crane, who
unsuccessfully bid for the team before its bankruptcy, is one of
the potential bidders, Mr. Snyder said.  Dallas businessman Jeff
Beck is another.  The remaining two haven't been disclosed.  Mr.
Snyder said the unidentified bidders have done very limited work,
and one has only made two phone calls regarding the sale.

U.S. Bankruptcy Judge D. Michael Lynn, Bloomberg relates, held a
hearing on whether to revise the schedule under which the team
will be sold at an auction currently planned for Aug. 4.  The
hearing will continue July 22.

"The bidding procedures do not provide sufficient time for
potential bidders to be able to participate meaningfully in the
sale process and are too skewed to the advantage" of the Ryan
group, lawyers for lenders said in July 15 court papers urging
Judge Lynn to delay the auction.

Under the new sale procedures, the Debtor will hold an auction on
Aug. 4, if competing bids are submitted by Aug. 3. The group led
by current team President Nolan Ryan and sports lawyer Chuck
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.


TEXAS RANGERS: JPMorgan Sues to Keep Stadium Lease
--------------------------------------------------
Steven Church at Bloomberg News reports that JPMorgan Chase & Co.
sued the Texas Rangers, claiming the baseball team breached the
terms of a loan by taking over the lease for its stadium, Rangers
Ballpark.

According to the report, the July 16 complaint said that
transferring the lease to Texas Rangers Baseball Partners makes it
harder for lenders to collect at least $411 million owed by the
team's owner, Tom Hicks's HSG Sports Group LLC, JPMorgan

Bloomberg relates that when HSG borrowed the money, it agreed that
certain units and affiliates would help pay back the loan if
necessary.  The HSG unit that controlled the lease was obligated
to repay the full amount while Texas Rangers Baseball Partners was
liable only for $75 million, New York-based JPMorgan said in court
documents.

                        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.


TOG PROPERTIES: Case Summary & 4 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: TOG Properties, LLC
        150 Bradley Place
        Palm Beach, FL 33480

Bankruptcy Case No.: 10-05655

Chapter 11 Petition Date: July 16, 2010

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

Judge: Stephani W. Humrickhouse

Debtor's Counsel: George M. Oliver, Esq.
                  Oliver & Friesen, PLLC
                  P.O. Box 1548
                  New Bern, NC 28563
                  Tel: (252) 633-1930
                  Fax: (252) 633-1950
                  E-mail: efile@oliverandfriesen.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 4 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nceb10-05655.pdf

The petition was signed by Richard S. Weinstein, member manager of
2 Map, LLC, Debtor's manager.


TRANS ENERGY: Secures Forbearance from CIT Capital Until Oct. 29
----------------------------------------------------------------
Trans Energy, Inc., and CIT Capital USA Inc., on July 9, 2010,
entered into a forbearance letter agreement whereby CIT agreed to
forebear from exercising its rights and remedies against the
Company and its property until October 29, 2010.  The July
Forbearance Letter provides:

     -- The Company must submit to CIT an operating budget on a
        weekly basis and conduct bi-weekly status calls with CIT
        to review its operating budget and discuss any variances
        therefrom.

     -- The Company must provide CIT with an updated monthly
        budget for calendar year 2010 on or before July 15, 2010
        and an updated reserve report by July 31, 2010.

     -- All outstanding forbearance fees, including outstanding
        delinquency charges payable pursuant to the forbearance
        letters of June 18, 2010 and June 25, 2010 and an
        additional delinquency charge of $100,000, are payable on
        the earlier of (i) July 31, 2010 or (ii) upon the closing
        of the sale of certain assets by the Company.  At the
        election of CIT, the forbearance fees are payable in
        either cash or five-year warrants to purchase shares of
        the Company's common stock.

     -- The Company shall retain Oppenheimer & Co. Inc. as its
        restructuring advisor during the forbearance period.

     -- If the Company sells assets, it shall be permitted to
        retain the first $5 million of cash proceeds and all
        additional amounts realized would be applied to the
        outstanding debt to CIT.

     -- If any portion of the debt remains outstanding, the
        Company will be obligated to pay an additional forbearance
        fee of $150,000 on September 15, 2010 and $150,000 on
        October 29, 2010, payable in either cash or five-year
        warrants to purchase shares of the Company's common stock.

     -- The outstanding debt will continue to accrue interest
        until paid.

As of July 9, 2010, the aggregate indebtedness, including accrued
interest, fees and expenses, was $32,320,239.  The Company is
working with its financial advisor and investment banker in an
effort to restructure the credit agreement, sell certain assets or
arrange for alternative financing.  If the Company is unable to
restructure the credit agreement or arrange for alternative
financing, the agreement will be in default and the principal
amount and accrued interest and fees would become immediately due.

West Virginia-based Trans Energy, Inc. --
http://www.transenergyinc.com/-- is an independent exploration
and production company focused on exploring, developing and
producing oil and natural gas in the Appalachian Basin.  The
common shares of the Company are listed for trading on the Over
The Counter Bulletin Board under the symbol "TENG".


TROPICANA ENT: Adamar of NJ Wins Nod to Expand JH Cohn Work
-----------------------------------------------------------
Pursuant to Section 327(a) of the Bankruptcy Code, New Jersey
Debtors Adamar of New Jersey, Inc., and Manchester Mall, Inc.,
obtained approval from the Bankruptcy Court for the District of
New Jersey to expand the scope of services of their financial
advisors, J.H. Cohn LLP, to include the preparation of:

  (a) The NJ Debtors' federal and New Jersey tax returns for the
      year ending December 31, 2009, and the period commencing
      from January 1, 2010, through and including June 9, 2010;
      and

  (b) Adamar of NJ In Liquidation, LLC's federal and New Jersey
      income tax returns for the period commencing from June 9,
      2010, through and including the earlier of its dissolution
      or December 31, 2010.

In accordance with the Amended and Restated Purchase Agreement
for the sale of substantially all of the NJ Debtors' assets and
corresponding Sale order, the NJ Debtors have merged into Adamar
of NJ In Liquidation, LLC.

J.H. Cohn intends to bill for the tax return preparation work in
accordance with its hourly billing rates:

       Partners                         $550 - $720
       Manager, Sr. manager, Director   $420 - $550
       Other professional staff         $185 - $360
       Staff, paraprofessional          $155 - $175

In the normal course of business, J.H. Cohn notes that it revises
its hourly rates on February 1 of each year.  The Firm also
intends to seek reimbursement for actual and necessary expenses
it incurred or will incur in connection with the contemplated
services.

Bernard A. Katz, a partner of J.H. Cohn, relates that his Firm
has agreed to cap its professional fees.  Thus, $45,000 will be
billed for the preparation of the NJ Debtors' federal and New
Jersey income tax returns for the year ending December 31, 2009,
and the period commencing from January 1, 2010, through and
including June 9, 2010; and $4,500 will be billed for Adamar In
Liquidation's federal and New Jersey income tax returns for the
period commencing from June 9, 2010, through and including the
earlier of dissolution or December 31, 2010.

Mr. Katz maintains that J.H. Cohn does not hold or represent any
interest materially adverse to the NJ Debtors or their estates.
The Firm remains a disinterested person within the meaning of
Sections 327(a) and 101(14) of the Bankruptcy Code, Mr. Katz
attests.

                   About Tropicana Entertainment

Tropicana Entertainment LLC and its units owned eleven casino
properties in eight distinct gaming markets with premier
properties in Las Vegas, Nevada, and Atlantic City, New Jersey.

Tropicana Entertainment LLC and certain affiliates filed for
Chapter 11 protection on May 5, 2008 (Bankr. D. Del. Case No. 08-
10856).  Kirkland & Ellis LLP and Mark D. Collins, Esq., at
Richards Layton & Finger, represent the Debtors in their
restructuring efforts.  Their financial advisor is Lazard Ltd.
Their notice, claims, and balloting agent is Kurtzman Carson
Consultants LLC.  Epiq Bankruptcy Solutions LLC is the Debtors'
Web site administration agent.  AlixPartners LLP is the Debtors'
restructuring advisor.  Stroock & Stroock & Lavan LLP and Morris
Nichols Arsht & Tunnell LLP represent the Official Committee of
Unsecured Creditors in this case.  Capstone Advisory Group LLC is
financial advisor to the Creditors' Committee.

The OpCo Debtors, a group of Tropicana entities owning casinos and
resorts in Atlantic City, New Jersey and Evansville, Indiana
obtained confirmation from the Bankruptcy Court of a
reorganization plan.  On April 29, 2009, non-debtor units of the
OpCo Debtors, designated as the New Jersey Debtors -- Adamar of
New Jersey, Inc., and its affiliate, Manchester Mall, Inc. --
filed for Chapter 11 (Bankr. D. N.J. Lead Case No. 09- 20711) to
effectuate a sale of the Atlantic City Resort and Casino to a
group of Investors-led by Carl Icahn.   Judge Judith H. Wizmur
presides over the cases.  Manchester Mall is a wholly owned
subsidiary of Adamar that owns and operates certain real property
utilized in the New Jersey Debtors' business operations.
Effective March 8, Tropicana Entertainment successfully emerged
from the Chapter 11 reorganization process as an Carl Icahn-owned
entity.

A group of Tropicana entities, known as the LandCo Debtors, which
own Tropicana casino property in Las Vegas, have obtained approval
of a separate Chapter 11 plan.

Ilana Volkov, Esq., and Michael D. Sirota, Esq., at Cole, Schotz,
Meisel, Forman & Leonard, in Hackensack, New Jersey, represented
the New Jersey Debtors.  Kurtzman Carson Consultants LLC acts as
their claims and notice agent.  Adamar disclosed $500 million to
$1 billion both in total assets and debts in its petition.
Manchester Mall disclosed $1 million to $10 million in total
assets, and less than $50,000 in total debts in its petition.

Bankruptcy Creditors' Service, Inc., publishes Tropicana
Bankruptcy News.  The newsletter tracks the chapter 11
restructuring proceedings commenced by Tropicana Entertainment LLC
and its affiliates.  (http://bankrupt.com/newsstand/or
215/945-7000).


TROPICANA ENT: OpCo Debtors Propose Unresolved Claims Reserve
-------------------------------------------------------------
The Reorganized OpCo Debtors, a group of Tropicana entities owning
casinos and resorts in Atlantic City, New Jersey and Evansville,
Indiana, ask the U.S. Bankruptcy Court for the District of
Delaware to:

  (a) approve a certain Reorganized OpCo Warrants Reserve
      Procedure, including the estimation and establishment of
      the Reorganized OpCo Warrants Reserve; and

  (b) authorize a partial distribution to Allowed Class 4 OpCo
      General Unsecured Claims based on the Reorganized OpCo
      Warrants Reserve Procedure and the Reorganized OpCo
      Warrants Reserve.

The Reorganized OpCo Debtors specifically seek to establish a
reserve of Reorganized OpCo Warrants, for distribution to Holders
of Allowed OpCo General Unsecured Claims, in the aggregate amount
of $54,427,275.

The OpCo Debtors' First Amended Plan of Reorganization provides
that holders of Allowed Class 4 OpCo General Unsecured Claims are
entitled to receive, among other things, their pro rata share of
the Reorganized OpCo Warrants.  The initial Distribution Date
with respect to the Reorganized OpCo Warrants, however, has not
yet occurred because certain of the OpCo General Unsecured Claims
are unliquidated, contingent or may be disputed by the
Reorganized OpCo Debtors, according to Zachary I. Shapiro, Esq.,
at Richards, Layton & Finger, P.A., in Wilmington, Delaware.

The Reorganized OpCo Debtors aver that they do not know the
potential universe of Allowed OpCo General Unsecured Claims
because they have not completed their claims analysis.  They,
however, maintain that they have made substantial progress in
their claims reconciliation process.  Thus, the Reorganized OpCo
Debtors believe that it is appropriate and reasonably practicable
to make a partial distribution of the Reorganized OpCo Warrants
to Holders of Allowed OpCo General Unsecured Claims; provided
that appropriate reserves can be established for disputed,
contingent or unliquidated OpCo General Unsecured Claims.

                  Proposed Reserve Procedure

The Reorganized OpCo Debtors thus reviewed the filed claims to
determine the appropriate amounts for the Reorganized OpCo
Securities Reserves to make an initial distribution to Holders of
Allowed OpCo General Unsecured Claims, and came up with this
proposed procedure:

  * For all OpCo General Unsecured Claims that were filed in a
    liquidated amount of greater than $300,000 that have not yet
    been Allowed -- the "Potentially Disputed Liquidated Claims"
    -- the Reorganized OpCo Debtors propose to reserve the
    amount asserted on the applicable proof of claim form as the
    maximum amount that may be potentially be distributed to the
    Holder of a Potentially Disputed Liquidated Claim.

  * The Reorganized Debtors compiled a list of "Unliquidated
    Claims" for which they are unable to conclusively determine
    upon review if the liquidated amount of the Claim will be
    less than or equal to $300,000, which amount is the
    threshold for treatment as a Class 8 Unsecured Convenience
    Claim.  The list includes a column on "reserve amount,"
    which refers to the maximum dollar amount of claims for
    which the Debtor believe would be required to distribute
    Reorganized OpCo Warrants under the Plan and accordingly,
    for which they intend to reserve, on an aggregate basis
    only, on account of the Unliquidated Claims.

  * The Reorganized Debtors compiled a list of claims that they
    believe will be liquidated in an amount between $0 and
    $300,000 and therefore, will receive a distribution of Cash,
    if any, under the OpCo Plan.  No Reorganized OpCo Warrants
    need be reserved for these type of claims.

  * A schedule of (i) the Potentially Disputed Liquidated
    Claims, (ii) Unliquidated Claims for which Reserves will be
    Set, and (iii) Claims to be Liquidated in the Amount of
    $300,000 Will Be Set, and (iv) Claims to be Liquidated in
    the Amount of $300,000 or Less is available at no charge at:

      http://bankrupt.com/misc/Tropi_ReserveAGUClaims071410.pdf

  * The Reorganized OpCo Debtors propose to reserve these
    amounts with respect to the Identified Claims:

     Claims Classification                     Reserve Amount
     ---------------------                     --------------
     Potentially Disputed Liquidated Claims      $40,347,275
     Unliquidated Claims, Undetermined            14,080,000
     Unliquidated Claims, $300,000 or below                0

  * According to Mr. Shapiro, the Reorganized OpCo Debtors
    applied these protocols to determine the reserve amount for
    each Unliquidated Claim:

    (1) If the Claim is covered by insurance and the Reorganized
        OpCo Debtors have not received a demand on account of
        that Claim, the reserve has been set at the amount of
        the deductible or self-insured retention applicable to
        the Claim;

    (2) If a demand has been received, the reserve for the Claim
        has been set at the maximum amount of any demand
        received on account of that Claim; and

    (3) If the Claim is not covered by insurance and the
        Reorganized OpCo Debtors have not received any previous
        demand on account of the Claim, the reserve has been set
        at an amount estimated by the Reorganized OpCo Debtors
        and their advisors as the maximum potential exposure for
        the Claim, if determined to be meritorious.

  * To the extent that a Potentially Disputed Liquidated Claim
    or an Unliquidated Claim becomes an Allowed OpCo General
    Unsecured Claim in accordance with the OpCo Plan, the
    Distribution Agent will distribute Reorganized OpCo Warrants
    to the Holder of the Allowed OpCo General Unsecured Claim
    and the reserve of the Reorganized OpCo Warrants will be
    adjusted appropriately.

  * To the extent that a Potentially Disputed Liquidated Claim
    or an Unliquidated Claim is disallowed, the Reorganized OpCo
    Warrants reserved on account of that claim will be
    distributed to Holders of Allowed OpCo General Unsecured
    Claims in accordance with the OpCo Plan and the reserve of
    Reorganized OpCo Warrants will be adjusted appropriately.

  * The Reorganized OpCo Debtors reserve the right to make any
    subsequent distributions to Holders of Allowed OpCo General
    Unsecured Claims on a rolling basis.

The Reorganized OpCo Debtors aver that before the hearing on
their request, they intend to work with any party-in-interest who
seek additional reserve amounts if those parties believe that the
maximum potential distribution on account of an Unliquidated
Claim has been estimated incorrectly.

Moreover, Mr. Shapiro asserts that the proposed Reorganized OpCo
Warrants Reserve Procedure does not prejudice holders of the
Potentially Disputed Liquidated Claims or the Unliquidated Claims
as it provides sufficient, reasonable protection to cover the
maximum amounts at which those Claims could be reasonably be
expected to be allowed.

                   About Tropicana Entertainment

Tropicana Entertainment LLC and its units owned eleven casino
properties in eight distinct gaming markets with premier
properties in Las Vegas, Nevada, and Atlantic City, New Jersey.

Tropicana Entertainment LLC and certain affiliates filed for
Chapter 11 protection on May 5, 2008 (Bankr. D. Del. Case No. 08-
10856).  Kirkland & Ellis LLP and Mark D. Collins, Esq., at
Richards Layton & Finger, represent the Debtors in their
restructuring efforts.  Their financial advisor is Lazard Ltd.
Their notice, claims, and balloting agent is Kurtzman Carson
Consultants LLC.  Epiq Bankruptcy Solutions LLC is the Debtors'
Web site administration agent.  AlixPartners LLP is the Debtors'
restructuring advisor.  Stroock & Stroock & Lavan LLP and Morris
Nichols Arsht & Tunnell LLP represent the Official Committee of
Unsecured Creditors in this case.  Capstone Advisory Group LLC is
financial advisor to the Creditors' Committee.

The OpCo Debtors, a group of Tropicana entities owning casinos and
resorts in Atlantic City, New Jersey and Evansville, Indiana
obtained confirmation from the Bankruptcy Court of a
reorganization plan.  On April 29, 2009, non-debtor units of the
OpCo Debtors, designated as the New Jersey Debtors -- Adamar of
New Jersey, Inc., and its affiliate, Manchester Mall, Inc. --
filed for Chapter 11 (Bankr. D. N.J. Lead Case No. 09- 20711) to
effectuate a sale of the Atlantic City Resort and Casino to a
group of Investors-led by Carl Icahn.   Judge Judith H. Wizmur
presides over the cases.  Manchester Mall is a wholly owned
subsidiary of Adamar that owns and operates certain real property
utilized in the New Jersey Debtors' business operations.
Effective March 8, Tropicana Entertainment successfully emerged
from the Chapter 11 reorganization process as an Carl Icahn-owned
entity.

A group of Tropicana entities, known as the LandCo Debtors, which
own Tropicana casino property in Las Vegas, have obtained approval
of a separate Chapter 11 plan.

Ilana Volkov, Esq., and Michael D. Sirota, Esq., at Cole, Schotz,
Meisel, Forman & Leonard, in Hackensack, New Jersey, represented
the New Jersey Debtors.  Kurtzman Carson Consultants LLC acts as
their claims and notice agent.  Adamar disclosed $500 million to
$1 billion both in total assets and debts in its petition.
Manchester Mall disclosed $1 million to $10 million in total
assets, and less than $50,000 in total debts in its petition.

Bankruptcy Creditors' Service, Inc., publishes Tropicana
Bankruptcy News.  The newsletter tracks the chapter 11
restructuring proceedings commenced by Tropicana Entertainment LLC
and its affiliates.  (http://bankrupt.com/newsstand/or
215/945-7000


UAL CORP: Profit Beats Analysts' Estimates on Higher Fares
----------------------------------------------------------
Bloomberg News reports that United Airlines parent UAL Corp.
posted profit that exceeded analysts' estimates on fuller planes
and higher fares.  Second-quarter profit excluding some costs was
$430 million, or $1.95 a share, topping the $1.75 average of 12
analysts' predictions compiled by Bloomberg.  That compares with
a loss of $321 million, or $2.21, a year earlier.

According to the report, revenue jumped 28% to $5.16 billion as
United took advantage of increasing business and leisure travel by
raising fares.  United and other carriers haven't added back
planes that were parked during the recession, giving them more
control over pricing as demand improves.

                    About UAL Corporation

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA) --
http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest air
carrier.  The airline flies to Brazil, Korea and Germany.

The company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors.  Judge Eugene R. Wedoff
confirmed a reorganization plan for United on Jan. 20, 2006.  The
Company emerged from bankruptcy on Feb. 1, 2006.

Reorganized UAL Corp. carries a 'Caa1' probability of default
rating from Moody's, 'B-' long term foreign issuer credit rating
from Standard & Poor's, and 'CCC' long term issuer default rating
from Fitch.

UAL Corp. is pursuing a merger with Continental Airlines Inc. to
form the world's largest carrier,


UTSTARCOM INC: Inks Common Stock Agreement with Beijing E-Town
--------------------------------------------------------------
UTStarcom Inc. reported on February 1, 2010, that it had entered
into a Common Stock Purchase Agreement with Beijing E-town
International Investment and Development Co., Ltd., and a Common
Stock Purchase Agreement with Elite Noble Limited and Shah Capital
Opportunity Fund LP, pursuant to which the Company proposed to
issue and sell common stock to the Investors in a private
placement transaction.

On May 4, 2010, the Company reported that on April 30, 2010, the
company and the Investors entered into an amendment to each of the
Purchase Agreements to amend certain terms related to the rights
of the Company and the Investors to terminate the Purchase
Agreements.  The Purchase Agreements initially provided that the
Purchase Agreements may be terminated by either the Company or the
applicable Investors under certain circumstances if the closing of
the Placement had not occurred within 90 days of February 1, 2010.
Under the terms of the Amendments, the Purchase Agreements may be
terminated by either the Company or the Investors if closing of
the Placement has not occurred within 120 days of February 1,
2010.

On June 4, 2010, the Company and the Investors entered into a
second amendment to each of the Purchase Agreements to amend
certain terms related to the rights of the Company and the
Investors to terminate the Purchase Agreements.  Under the terms
of the Second Amendments, the Purchase Agreements may be
terminated by either the Company or the Investors if closing of
the Placement has not occurred within 150 days of February 1,
2010.

On July 7, 2010, the Company and the Investors entered into a
third amendment to each of the Purchase Agreements to amend
certain terms related to the rights of the Company and the
Investors to terminate the Purchase Agreements.  Under the terms
of the Third Amendments, the Purchase Agreements may be terminated
by either the Company or the Investors if closing of the Placement
has not occurred within 180 days of February 1, 2010.  As of the
date hereof, the closing of the Placement has not occurred.

A full-text copy of the company's amended common stock agreements
is available for free at:

               http://ResearchArchives.com/t/s?667a
               http://ResearchArchives.com/t/s?667b

UTStarcom, Inc. (Nasdaq: UTSI) -- http://www.utstar.com/-- is a
global leader in IP-based, end-to-end networking solutions and
international service and support.  The Company sells its
solutions to operators in both emerging and established
telecommunications markets around the world.  UTStarcom enables
its customers to rapidly deploy revenue-generating access services
using their existing infrastructure, while providing a migration
path to cost-efficient, end-to-end IP networks.  The Company was
founded in 1991 and is headquartered in Alameda, California.

The Company's balance sheet at March 31, 2010, showed
$882.9 million in total assets and $642.2 million in total
liabilities for a $240.7 million stockholders' equity.

                        Going Concern Doubt

The Company has recorded operating losses in 19 of the 20
consecutive quarters in the period ended December 31, 2009.  At
December 31, 2009, the Company had an accumulated deficit of
$1.067 billion.  While operating results are expected to improve
in 2010 compared with prior years, management expects the Company
to continue to incur losses in 2010.


VALUE CITY: Recovered Over $250,000 in Preferential Payments
------------------------------------------------------------
Value City Holdings, Inc., received almost $265,000 in preference
recoveries during June 2010, netDockets Blog reports, citing a
report filed by special counsel to the Company.

According to netDockets Blog, starting in November of last year,
Value City has filed almost 200 adversary complaints seeking
recovery of allegedly preferential payments made prior to Value
City's October 2008 bankruptcy filing.   The report relates that
through the end of June, Storch Amini & Munves has recovered over
$1.48 million for Value City on account of preference actions.
After the firm's fees and expenses, Value City's bankruptcy
estates have received almost $1.2 million in proceeds, the report
notes.

                        About Value City

Headquartered in Columbus, Ohio, Value City Holdings Inc. --
http://www.valuecity.com/-- operates a chain of department stores
in the United States.  The company and eight of its affiliates
filed for Chapter 11 protection on Oct. 26, 2008 (Bankr. S.D.N.Y.
Lead Case No. 08-14197).  John Longmire, Esq., and Lauren C.
Cohen, Esq., at Willkie Farr & Gallagher LLP, represent the
Debtors' in their restructuring efforts.  Epiq Bankruptcy
Solutions LLC is the claims, noticing and balloting agent for the
Debtors.  Glenn R. Rice, Esq., at Otterbourg Steindler Houston &
Rosen, PC, represents the official committee of unsecured
creditors as counsel.  When the Debtors filed for protection from
their creditors, they listed assets and debts between $100 million
and $500 million each.

In November 2008, Judge James M. Peck of the U.S. Bankruptcy Court
for the Southern District of New York granted Value City Holdings
permission to conduct going-out-of-business sales to be managed by
liquidator and financial consultant Tiger Capital Group LLC.


VENTRUS BIOSCIENCES: To Ask Bondholders to Extend Note Maturity
---------------------------------------------------------------
Ventrus BioSciences, Inc., warned in a regulatory filing that as
of June 30, 2010, it had outstanding convertible notes in the
principal amount of $11,923,586, which mature September 10, 2010.

Ventrus is planning an offering of up to $19,550,000 in common
shares.  A full-text copy of the Company's registration statement
filed with the Securities and Exchange Commission is available at
no charge at http://ResearchArchives.com/t/s?66d2

The Company intends to begin the process to obtain the consent of
the holders of the convertible notes to extend the maturity date
to December 31, 2010.

"We might not receive the consent of any of these note holders in
which event we would not be able to repay all of the notes upon
their maturity, given our current cash position.  The failure to
repay these notes upon their maturity could subject us to lawsuits
and deplete our cash reserves prior to the completion of this
offering," the Company said.

The Company also disclosed that as of March 31, 2010, it had
outstanding promissory notes in the aggregate principal amount of
$1,573,000, with accrued interest of $147,165, which have a
maturity date of the earlier of December 31, 2013 or the
completion of the offering, provided the Company raises net
proceeds of at least $10 million.  The notes are held by Paramount
Credit Partners, LLC.

The Company said repayment of any of the indebtedness would
materially and adversely impact its intended uses for proceeds
from the offering.  "We expect to execute an amendment to the
notes to that effect prior to the closing of this offering, but
there can be no assurance that the extension will be agreed to in
writing or that Paramount Credit Partners will not demand payment
on the completion of this offering," the Company said.

The Company expects to receive $14.5 million in net proceeds, and
plans to use the net proceeds:

     $8 million      to conduct Phase III clinical trial of
                     iferanserin (VEN 309) in the treatment of
                     hemorrhoids, and carcinogenicity testing, as
                     well as developing new intellectual property;

     $4.2 million    to pay to S.L.A. Pharma of its licensing
                     obligations for diltiazem cream (VEN 307) and
                     development of an improved formulation for
                     use in Phase III studies in the U.S. on
                     completion of S.L.A. Pharma's European study
                     and payment to S.L.A. Pharma of the Company's
                     licensing obligations for phenylephrine gel,
                     and preparation of a Phase II clinical trial;
                     and

     $2.3 million    for general and administrative expenses

Ventrus Biosciences, Inc., is a specialty pharmaceutical company
focused on the development and commercialization of late-stage
prescription drugs for gastrointestinal disorders, specifically
hemorrhoids, anal fissures and fecal incontinence.


VERENIUM CORP: Marxe and Greenhouse Sell 80,571 Shares
------------------------------------------------------
Austin W. Marxe and David M. Greenhouse disclosed selling 80,571
shares of Verenium Corporation common stock on June 30, 2010, for
$2.3965 a share.  They now hold 1,373,212 shares after the deal.
They indirectly hold those shares.

Messrs. Marxe and Greenhouse share voting and investment control
over all securities owned by Special Situations Fund III QP, LP
(QP) and Special Situations Cayman Fund, L.P.  According to their
filing, 942,587 shares of Common Stock are held by QP and 430,625
shares of Common Stock are held by Cayman.  The interest of
Messrs. Marxe and Greenhouse in the shares of Common Stock owned
by QP and Cayman is limited to the extent of his pecuniary
interest.

                        Going Concern Doubt

As reported in the Troubled Company Reporter on March 19, 2010,
Ernst & Young LLP, in San Diego, Calif., expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that of the Company's recurring
operating losses and accumulated deficit of $630.0 million at
December 31, 2009.

The Company has incurred a net loss of $12.0 million for the
three months ended March 31, 2010, and has an accumulated deficit
of $637.9 million as of March 31, 2010.  Based on the Company's
current operating plan, its existing working capital will not be
sufficient to meet the cash requirements to fund the Company's
planned operating expenses, capital expenditures, required and
potential payments under the 2007 Notes, the 2008 Notes, and the
2009 Notes, and working capital requirements through December 31,
2010, without additional sources of cash and/or the deferral,
reduction or elimination of significant planned expenditures.

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

The Company's balance sheet as of March 31, 2010, showed
$149.4 million in assets, $135.9 million of liabilities, and
$13.5 million of stockholders' equity.

                    About Verenium Corporation

Cambridge, Mass.-based Verenium Corporation (NASDAQ: VRNM) --
http://www.verenium.com/-- operates in two business segments,
biofuels and specialty enzymes.  The Company's biofuels business
segment operates through its wholly-owned subsidiary, Verenium
Biofuels Corporation, and is focused on developing unique
technical and operational capabilities designed to enable the
production and commercialization of biofuels, in particular
ethanol produced from cellulosic biomass.  The Company's specialty
enzymes segment develops high-performance enzymes for use within
the alternative fuels, specialty industrial processes, and animal
nutrition and health markets to enable higher throughput, lower
costs, and improved environmental outcomes.


VIDEO DISPLAY: Receives RBC Bank Covenant Waiver Until Aug. 31
--------------------------------------------------------------
Video Display Corporation disclosed in a regulatory filing that as
of May 31, 2010, it was in violation of the Asset Coverage Ratio
under its credit facility with RBC Bank.  The Company received a
waiver from RBC Bank for the covenant violation until the next
measurement date of August 31, 2010.  The waiver agreement was
obtained on July 16, 2010 and contains no additional requirements
for the Company to meet in order for it to be effective.
Management believes that it will be able to meet the existing
covenants for the remaining term of the agreement.

The Company executed the Loan and Security Agreement with RBC Bank
on September 26, 2008, to provide a $17 million line of credit to
the Company and a $3.5 million line of credit to the Company's
subsidiary Fox International, Ltd.

On May 24, 2010, the Company and RBC Bank signed an amendment to
the parties' Loan and Security Agreement that extended the
maturity dates of both the Company's $17 million and Fox
International's $3.5 million lines of credit to September 30,
2010.  Although the Company is in active negotiations to secure a
new financing arrangement with its current or alternative lenders,
no assurance can be given that an agreement will be reached.

As of May 31, 2010, the outstanding balances of these lines of
credit were $16.6 million and $3.5 million, respectively. The
available amounts for borrowing were $400,000 and $0.0,
respectively.  The loans are secured by all assets and personal
property of the Company. Additionally, the Chief Executive Officer
of the Company has provided a limited guarantee on the outstanding
loan with Fox International Ltd. The agreement contains covenants,
including requirements related to tangible cash flow, ratio of
debt to cash flow and asset coverage. The agreement also includes
restrictions on the incurrence of additional debt or liens,
investments (including Company stock), divestitures and certain
other changes in the business.  The $17 million line of credit was
extended to September 2010, and accordingly is classified under
short-term liabilities on the Company's balance sheet.  The
Company's subsidiary, Fox International, Ltd agreement expires in
September 2010 and is classified in short term liabilities.  The
interest rate on these loans is a floating LIBOR rate based on a
fixed charge coverage ratio, minimum 4.0%, as defined in the loan
documents.

In conjunction with the Loan and Security Agreement, the syndicate
also executed a $1.7 million term note with the Company repayable
in 32 monthly increments of $50,000 each through July 1, 2011, and
the Chief Executive Officer of the Company personally provided a
$6.0 million subordinated term note to the Company.

The Company is a worldwide leader in the manufacture and
distribution of a wide range of display devices, encompassing,
among others, industrial, military, medical, and simulation
display solutions.

As of May 31, 2010, the Company had $66,211,000 in total assets
against $38,128,000 in total liabilities.


VINEYARD NATIONAL: Confirmation Hearing Continues on August 6
-------------------------------------------------------------
Vineyard National Bancorp will return to the Bankruptcy Court on
August 6, 2010, for the continuation of the hearing to confirm its
Joint Plan of Liquidation.

A Joint Plan of Liquidation and Disclosure Statement have been
filed with the Court.  The Court approved the Disclosure Statement
dated February 4, 2010, and solicitation of ballots commenced on
March 8, 2010.  Balloting was re-opened upon a motion by the
Official Committee of the Unsecured Creditors.  The confirmation
hearing for the Joint Plan of Liquidation was originally scheduled
for April 8, 2010.  Due to, among other things, an objection to
the Joint Plan of Liquidation and Disclosure Statement filed by
the Federal Deposit Insurance Corp., the hearing has been
continued several times.

As reported by the Troubled Company Reporter on April 23, 2010,
the FDIC claims a super-priority claim to certain assets of the
estate.  Vineyard has warned in a regulatory filing that if the
FDIC's claim is successful, it will reduce or potentially
eliminate any assets available for distribution to the general
unsecured creditors.

On December 21, 2009, the Unsecured Creditors Committee filed suit
against certain directors and officers of the Debtor.

                     About Vineyard National

Vineyard National Bancorp (NASDAQ: VNBC) (AMEX: VXC.PR.D) --
http://www.vineyardbank.com/-- was the financial holding company,
which provides a variety of lending and depository services to
businesses and individuals through its wholly owned subsidiary,
Vineyard Bank, National Association.

Vineyard Bank was closed July 17 by regulators, which appointed
the Federal Deposit Insurance Corporation as receiver.  To protect
the depositors, the FDIC entered into a purchase and assumption
agreement with California Bank & Trust, San Diego, California, to
assume all of the deposits of Vineyard Bank, N.A., excluding those
from brokers.

As of March 31, 2009, Vineyard Bank, N.A., had total assets of
$1.9 billion and total deposits of roughly $1.6 billion.  In
addition to assuming all of the deposits of the failed bank,
California Bank & Trust agreed to purchase roughly $1.8 billion of
assets.  The FDIC will retain the remaining assets for later
disposition.  California Bank & Trust purchased all deposits,
except about $134 million in brokered deposits, held by Vineyard
Bank, N.A.

Vineyard National Bancorp filed for Chapter 11 on June 21, 2009
(Bankr. C.D. Calif. Case No. 09-26401).


VISTEON CORP: Has Access to Cash Collateral Until August 19
-----------------------------------------------------------
U.S. Bankruptcy Judge Christopher Sontchi entered his Sixteenth
Supplemental Interim Order, authorizing Visteon Corp. continued
use of cash collateral through August 19, 2010.

The Debtors' use of the Cash Collateral will be subject to
compliance of a prepared budget, a copy of which is available for
free at http://bankrupt.com/misc/Visteon_16thlBudget910.pdf

A final hearing will be held on August 17, 2010.  Objections must
be filed no later than August 11.

A full-text copy of the 16th Supplemental Cash Collateral Order
is available for free at:

      http://bankrupt.com/misc/Visteon_16thCashCollOrd.pdf

                         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)


VISTEON CORP: Plan Exclusivity Extended Until October 15
--------------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware extended through October 15, 2010, the
exclusive right of Visteon Corporation and its debtor affiliates
to file a Chapter 11 plan.  The period by which the Debtors can
exclusively solicit and obtain acceptances of that plan is also
extended through December 15, 2010.

At the July 15 hearing on the exclusivity extension request, the
Ad Hoc Committee of Equityholders asked Judge Sontchi to
terminate the Debtors' Exclusive Periods to enable it to propose
its own plan that would be confirmable if it is established that
the Debtors' enterprise valuation is wrong and that the Debtors
are solvent.

The Court overruled the objection, saying he had made his
intentions clear the last time the issue came up, Bloomberg News
cited.

"Why am I hearing this again?" Bloomberg News quoted Judge
Sontchi in referring to the exclusivity termination request.  "We
are retreading ground that we have gone over and over again,"
Judge Sontchi said after denying the Ad Hoc Equity Committee's
request, the report noted.

Judge Sontchi approved the Disclosure Statement describing the
Debtors' Toggle Plan as containing adequate information pursuant
to Section 1125 of the Bankruptcy Code on June 28, 2010.

                        Valuation Issues

Prior to the conduct of the July 15 hearing, the Ad Hoc Equity
Committee asserted that by arguing that bondholders are better
off with Toggle SubPlan A under which they receive 5% of the
reorganized debtor's stock and the right to buy 95% at plan value
than with Toggle SubPlan B under which they receive 15% of the
stock, the Debtors have implicitly admitted their 'plan value'
undervalues the stock and makes the right to buy 95% of the stock
at 'plan value' worth hundreds of millions of dollars.

The Ad Hoc Equity Committee further emphasized that as the
Debtors are in the process of soliciting votes for their current
plan, the filing of a competing plan will not disrupt the
solicitation process but will provide a superior alternative --
and one that will be confirmable.

Mona A. Parikh, Esq., at Buchanan Ingersoll & Rooney PC, in
Wilmington, Delaware, attorney for the Ad Hoc Equity Committee,
argued that if the Court ultimately reject the Debtors' low
valuation or find that the Debtors' Plan contains other fatal
defects at confirmation, it will not have any other plan to
confirm and considerable delay will ensue.

In reply to the Ad Hoc Equity Committee's contentions, the
Debtors cited that each of the points the Objection raised is a
valuation argument the Court has heard, considered, and rejected
several times before by noting that those issues should be
addressed at a confirmation hearing and not before.  The Debtors
also denied the premise that they have admitted that their Plan
undervalues the stock to be issued to the noteholders under
Toggle SubPlan A.

The Debtors reiterated that the Toggle Plan is confirmable.  It
has the support of their noteholders in sufficient amount for the
Plan to be accepted pursuant to a Court-approved plan support
agreement, the Debtors averred.  It also has the support of the
Official Committee of Unsecured Creditors, the Debtors added.

With regards to Johnson Controls, Inc.'s proposal, the Debtors
maintained that evidence presented to the Court demonstrated that
they carefully considered the JCI proposal and concluded that the
additional liabilities triggered by a sale to JCI and the impact
of the transaction on their residual reorganized business meant
that creditor recoveries would not be improved by pursuing that
particular sale.

                         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).


VISTEON CORP: Suppliers May Buy Equity in Reorganized Entity
------------------------------------------------------------
Visteon Corporation is working on a deal with bondholder
investors that could enable suppliers and other creditors who
hold general unsecured claims the opportunity to buy as much as
$15 million in shares of new stock the Company will be issuing
upon its exit from bankruptcy protection, James J. Mazza, Esq.,
of Kirkland & Ellis LLP said, according to Bloomberg News.

"We'd like to get it done, if it's the right deal," Mr. Mazza
told Bloomberg News in an interview.  "It's insurance."

The current version of the bankruptcy plan Visteon proposed
contemplates a rights offering to be sponsored by bondholder
investors to raise $1.25 billion to fund its exit from bankruptcy
financing.  In return, the bondholders will get control of 95% of
the Company.

Visteon will have to issue more stock to accommodate the
suppliers, Bloomberg News quoted Mr. Mazza, Visteon's counsel, as
saying.

The new development comes in light of an objection lodged by
three distressed-debt investors against the current version of
the Visteon Plan.  The investors, Hain Capital Group, LLC,
Liquidity Solutions, Inc., and Fulcrum Credit Partners LLC, are
believed to hold about $20 million in supplier claims.

The Hain Investors "have collected pledges to vote 'no' on the
plan from creditors with at least 60% of the so-called debt
trade," according to a person familiar with the tally, Bloomberg
News related.  A 'no' vote from these set of creditors could
block Visteon from gaining Court approval of its bankruptcy plan.

The Hain Investors earlier sought the appointment of an official
trade creditors committee in Visteon's cases.  Judge Sontchi has
yet to rule on the matter.

                         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).


VISTEON CORP: Unsecureds Panel Seek to Probe Trade Creditors
------------------------------------------------------------
The Official Committee of Unsecured Creditors for Visteon Corp.
seeks the Court's authority to conduct discovery of the so-called
ad hoc trade committee and its members in relation to
representations it has made that it holds or controls sufficient
claims to block an accepting vote of Class H claims in connection
with its solicitation of creditors to vote against the Debtors'
Plan of Reorganization.

The Creditors' Committee is concerned that the Ad Hoc Trade
Committee may be "mischievously resorting to issuing propaganda
that it controls a blocking position for the Class H creditor
vote during the solicitation period."  The Creditors' Committee
asserts that based on publicly available information, the Ad Hoc
Trade Committee's assertion that it holds or controls a blocking
position appears highly suspect.

Representing the Creditors' Committee, Leigh Anne M. Raport,
Esq., at Ashby & Geddes, P.A., in Wilmington, Delaware, cites
that the Debtors' claims register reflects that the total dollar
amount of Class H claims held by members of the Ad Hoc Trade
Committee is approximately $17 million -- an amount far less than
necessary to constitute a blocking position.

If the Ad Hoc Trade Committee's claims are untrue, then the Class
H creditors are being misled and harmed by the Ad Hoc Trade
Committee's deception, Ms. Raport contends.

The Creditors' Committee maintains that it is duty bound to
investigate the merits of the Ad Hoc Trade Committee's
allegations.

The plan voting process in ongoing and is scheduled to conclude
on July 30, 2010.  The Creditors' Committee relates that in order
to assess the representations being made by the Ad Hoc Trade
Committee, it seeks certain information from members of the Ad
Hoc Trade Committee.  The information includes, among others:

  (1) The identity of all Class H claims held by members of the
      Ad Hoc Trade Committee other than those currently
      reflected in the Visteon claims register;

  (2) The identity of all other Class H claims which, to the
      knowledge of members of the Ad Hoc Trade Committee, have
      "pledged" or otherwise agreed to vote to reject the plan;
      and

  (3) All communications made by members of the Ad Hoc Trade
      Committee or its professionals to any party to the effect
      that members of the Ad Hoc Trade Committee hold or control
      sufficient claims to constitute a Class H blocking
      position.

The Creditors' Committee asserts that the information it seeks is
relevant and critical to determine whether the Ad Hoc Trade
Committee is engaging in misleading solicitation.

In a separate request, the Creditors' Committee sought to shorten
notice of its Discovery Motion so that it may be considered at
the omnibus hearing set for July 15, 2010.  Judge Sontchi,
however, denied the Committee's notice request.

                         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)


VITRO SAB: Noteholders Reject Restructuring Proposal
----------------------------------------------------
The Steering Group for the Ad Hoc Committee of Vitro Noteholders
has rejected the latest restructuring proposal made by VITRO,
S.A.B. de C.V., which forms the basis of Vitro's announced
"consent solicitation" to holders of the Senior Notes  (the Vitro
Proposal).

The Steering Group is comprised of holders, or investment advisors
to holders, of more than $500 million of Vitro's Senior Notes due
2012, 2013, and 2017 (collectively, the Senior Notes) issued by
Vitro, S.A.B. de C.V.  Vitro has been in default under the Senior
Notes for more than 15 months, having failed to make scheduled bi-
annual interest payments On February 1, 2009, May 1, 2009,
August 1, 2009, November 1, 2009, February 1, 2010, and May 1,
2010.  Moreover, the Senior Notes were accelerated by holders of
the Senior Notes and/or the indenture trustees for such notes
earlier this year -- which makes the full amount of the Senior
Notes (approximately $1.2 billion principal amount) plus accrued
and unpaid interest immediately due and payable by Vitro and its
more than 50 Mexican and U.S. subsidiary guarantors of the Senior
Notes.

Since the initial default by Vitro in February 2009, certain
members of the Steering Group have urged Vitro to engage in a
thoughtful, deliberate restructuring process that will maximize
recoveries for holders of the Senior Notes.

Notably, the Vitro Proposal continues to undervalue the financial
condition of Vitro's business and its ability to satisfy claims of
holders of the Senior Notes.  The Vitro Proposal (and the
unsupported consent solicitation) is intended to redistribute
value away from Vitro's creditors to its shareholders (including
controlling family member shareholders).  As a result, the
Steering Group reserves all its rights and is reviewing the
exercise of appropriate remedies and options to protect holders of
the Senior Notes.

The Steering Group is represented by White & Case LLP and Chanin
Capital Partners LLC as counsel and financial advisors,
respectively.

Holders of the Senior Notes who are interested in obtaining more
information are encouraged to contact these advisors for the
Steering Group:

     White & Case LLP
     John Cunningham
     Tel: (305) 995-5252
     E-mail: jcunningham@whitecase.com
     Richard Kebrdle
     Tel: (305) 995-5276
     E-mail: rkebrdle@whitecase.com

     Chanin Capital Partners
     Brian Cullen
     Tel: (310) 445-4010
     E-mail: BCullen@chanin.com
     Mark Catania
     Tel: (310) 445-4010
     E-mail: MCatania@chanin.com

                         About Vitro SAB

Headquartered in Monterrey, Mexico, Vitro, S.A.B. de C.V. (BMV:
VITROA; NYSE: VTO), through its two subsidiaries, Vitro Envases
Norteamerica, SA de C.V. and Vimexico, S.A. de C.V., is a global
glass producer, serving the construction and automotive glass
markets and glass containers needs of the food, beverage, wine,
liquor, cosmetics and pharmaceutical industries.

                          *     *     *

In June 2010, Fitch Ratings withdrew all ratings of Vitro, S.A.B.
de C.V., given the lack of information following the company's
default on Feb. 2, 2009, and consistent with Fitch's policies.
Fitch will no longer provide ratings or credit research on the
Company.

Andres R. Martinez at Bloomberg News said in June that Vitro was
suspended from trading in Mexico City after failing to file its
fourth-quarter earnings report.  The company missed June 2's
deadline for the results, Mexico's stock exchange said in an
e-mailed statement obtained by the news agency.  Vitro plans to
file the report once its debt restructuring is complete or if
ordered by a judge.  Vitro said that the suspension won't affect
company operations.

In June 30, 2009, Galaz, Yamazaki, Ruiz Urquiza, S.C., member of
Deloitte Touche Tohmatsu and C.P.C. Jorge Alberto Villarreal in
Monterrey, N.L., Mexico raised substantial doubt about the
Company's ability to continue as a going concern after auditing
financial results for the period ended Dec. 31, 2007, and 2008.
The auditors pointed out to the Company's net loss and its non-
compliance with covenants related to its long-term debt
obligations.


V.N.H. INC: Case Summary & 11 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: V.N.H., Inc.
        28939 Southfield Road
        Lathrup Village, MI 48076

Bankruptcy Case No.: 10-62394

Chapter 11 Petition Date: July 13, 2010

Court: United States Bankruptcy Court
       Eastern District of Michigan (Detroit)

Judge: Marci B McIvor

Debtor's Counsel: Robert N. Bassel, Esq.
                  P.O. Box T
                  Clinton, MI 49236
                  Tel: (248) 677-1234
                  Fax: (248) 369-4749
                  E-mail: bbassel@gmail.com

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

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

A list of the Company's 11 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/mieb10-62394.pdf

The petition was signed by Vincent Shina, principal.


WASHINGTON MUTUAL: Shareholders Win Probe of JPMorgan Deal
----------------------------------------------------------
Bankruptcy Law360 reports that Washington Mutual Inc. shareholders
won a bid Tuesday for an examiner to review a litigation
settlement between the bank, JPMorgan Chase & Co. and the Federal
Deposit Insurance Corp. that is key to WaMu's emergence from
bankruptcy.

Judge Mary Walrath of the U.S. Bankruptcy Court for the District
of Delaware said she planned on appointing an examiner Monday,
according to Law360.

                       About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The Company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over September 25 by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  Wamu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment listed assets of $500,000,000
to $1,000,000,000 with zero debts.

Peter Calamari, Esq., and David Elsberg, Esq., at Quinn Emanuel
Urquhart Oliver & Hedges, LLP, served as legal counsel to WMI with
responsibility for the litigation.  Brian Rosen, Esq., at Weil,
Gotshal & Manges LLP served as legal counsel to WMI with
responsibility for the Chapter 11 case.

Bankruptcy Creditors' Service Inc. publishes Washington Mutual
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Washington Mutual Inc. (http://bankrupt.com/newsstand/or
215/945-7000).


W.R. GRACE: Fee Auditor Submits Report for ZAI Counsel Fees
-----------------------------------------------------------
To recall, U.S. Bankruptcy Judge Judith Fitzgerald awarded parties
asserting claims relating to Zonolite Attic Insulation
manufactured by W.R. Grace & Co. in Canada, among others, expenses
totaling C$55,377 to be paid to Lauzon Belanger S.E.N.C.R.L. and
Scarfone Hawkins LLP, as special counsel to represent the Canadian
ZAI Claimants' interests in the U.S. proceedings, nunc pro tunc to
December 21, 2009, through the Effective Date of the Plan.

Warren H. Smith & Associates, P.C., acting in its capacity as fee
auditor in the Chapter 11 cases, noted that certain revisions were
made to the original fee application of Lauzon and Scarfone for
the period from October 1, 2004 through August 31, 2008.  The Fee
Auditor also recommended the reduction of expenses that the
Representative Counsel sought to be reimbursed.  Lauzon, Scarfone
submitted a statement to the Court certifying the Revisions.

The Debtors subsequently certified that they no objections to the
Amended Application of Representative Counsel were received.

In a final report dated July 12, 2010, the Fee Auditor noted that:

  (1) In the event the Court determines that Representative
      Counsel are appropriately compensated by means of a
      contingency fee, the Fee Auditor recommends approval of
      $2,000,000 inclusive of fees and expenses, for
      Representative Counsel's services for the

  (2) Alternatively, if the Court determines that compensation
      on an hourly basis is appropriate, the Fee Auditor
      recommends approval of $818,746 in fees and $107,237 in
      expenses for Representative Counsel's services for the
      Application Period, of which (i) $381,251 in fees and
      $77,562 in expenses are for the services of Lauzon
      Belanger; and (ii) $437,494 in fees and $29,674 in
      expenses are for the services of Scarfone Hawkins.

                          About W.R. Grace

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The Company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and Laura

Davis Jones, Esq., at Pachulski Stang Ziehl & Jones, LLP,
represent the Debtors in their restructuring efforts.  The Debtors
hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.  Stroock &
Stroock & Lavan, LLP, and Duane Morris, LLP, represent the
Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace and its debtor affiliates, with the support of the
Official Committee of Asbestos Personal Injury Claimants, the
Asbestos PI Future Claimants' Representative and the Official
Committee of Equity Security Holders, have submitted a proposed
Chapter 11 plan of reorganization.  The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  The Plan confirmation hearing
wrapped up on January 25.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000).


W.R. GRACE: Plum Creek Seeks to File Late Claims
------------------------------------------------
Plum Creek Timberlands, L.P., asks the Court to allow the late
filing of its proofs of claim asserting undertermined amounts.
Plum Creek is in the business of growing and commercially
harvesting trees and owns approximately 5,000-6,000 acres of
timberlands and a total of approximately 30,000 acres in the
vicinity of Libby in Montana.

According to John R. Knapp, Jr., Esq., at Miller Nash LLP, in
Seattle Washington, the United States Environmental Protection
Agency prepared in May 2010, a technical document entitled
"Remedial Investigation for Operable Unit 3, Libby Asbestos
Superfund Site, Phase IV Sampling and Analysis Plan, Part A, Data
to Support Human Health Risk Assessment."  The EPA Draft Report
raised, for the first time, and recommends testing and analysis on
the issue of whether Plum Creek's timberlands in Libby might be
unsafe to log because of the presence of vermiculite asbestos
released into the atmosphere by one or more of the Debtors' mining
operations near Libby.

The EPA Draft Report was prepared as part of a joint effort by EPA
and the Debtors to conduct a remedial investigation and
feasibility study of the Libby Superfund Site pursuant to the
requirements of EPA's regulations.  The EPA Draft Report concerns
only a portion of the Libby Site known as Operable Unit 3, where
it appears that asbestos has become embedded into the bark of
trees owned by Plum Creek, Mr. Knapp tells the Court.

"At present, it is unclear to Plum Creek whether the claims bar
date of March 31, 2003 . . . applies to the damages incurred, if
at all, with respect to trees owned by Plum Creek.  The
Instructions printed on the Proof of Claim form state that it
applies only to claimants who are 'alleging property damage with
respect to asbestos in real property owned by a party . . . as a
result of one of Grace's vermiculite mining, milling or processing
facilities,'" according to Mr. Knapp.

Mr. Knapp notes that to the extent Plum Creek suffered compensable
damages, it is most likely to be with respect to its inventory of
trees.  However, to the extent the Uniform Commercial Code defines
"goods" as including "standing timber that is to be cut and
removed under a conveyance or contract for sale" but does not
specify when the conveyance or contract for sale must arise, the
Bar Date applies to Plum Creek's claims and cause exists to allow
the late-filed claims given that:

  (1) it is the first instance where a governmental agency
      has raised the issue of whether the hazardous substance,
      asbestos, which has become imbedded into tree bark, may
      lead to unacceptable health effects if those trees are
      harvested; and

  (2) Plum Creek filed its proofs of claim promptly upon
      learning of the EPA Draft Report.

Mr. Knapp notes that payment of Plum Creek's Claim will not
jeopardize success of the Debtors' Chapter 11 Plan of
Reorganization.  Although the amount of Plum Creek's claims is
undetermined at present, they are likely to be insubstantial in
comparison to the amount of the Debtors' total liabilities of
$3.555 billion.

                          About W.R. Grace

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The Company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and Laura

Davis Jones, Esq., at Pachulski Stang Ziehl & Jones, LLP,
represent the Debtors in their restructuring efforts.  The Debtors
hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.  Stroock &
Stroock & Lavan, LLP, and Duane Morris, LLP, represent the
Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace and its debtor affiliates, with the support of the
Official Committee of Asbestos Personal Injury Claimants, the
Asbestos PI Future Claimants' Representative and the Official
Committee of Equity Security Holders, have submitted a proposed
Chapter 11 plan of reorganization.  The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  The Plan confirmation hearing
wrapped up on January 25.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


W.R. GRACE: Settles Wasau Insurance Coverage Issues
---------------------------------------------------
Employers Mutual Liability Insurance Company of Wisconsin issued
three policies of excess liability insurance that provide, or are
alleged to provide, insurance coverage to Grace.  The Subject
Policies were issued for the period July 17, 1974 to June 30,
1977.

Each of the Subject Policies provides coverage in the amount of
$2 million part of a quota share layer of $50 million per
occurrence and in the aggregate for products and completed
operations hazards, all in excess of $100 million in underlying
limits.

Grace has incurred and may incur in the future certain
liabilities, expenses and losses arising out of asbestos-related
claims, for which Grace seeks coverage under the Subject Policies.
Disputes have arisen between Grace and Wausau regarding their
respective rights and obligations under the Subject Policies with
respect to coverage for asbestos-related claims.

The First Amended Joint Plan of Reorganization contemplates that
Asbestos Personal Injury Claims will be enjoined and channeled to
the Asbestos PI Trust.  If established as proposed, the Trust will
process and resolve Asbestos PI Claims pursuant to the Asbestos PI
Trust Distribution Procedures.  The Plan further contemplates that
Asbestos Insurance Rights, including rights to coverage under the
Subject Policies, are to be transferred to the Trust, to be used
to fund payment of Asbestos PI Claims.

To resolve the disputes, the Debtors, and Nationwide Indemnity
Company, solely in its capacity as claims administrator for Wausau
entered into a settlement agreement that confers these principal
benefits upon the Debtors' estate, among others:

  (a) The payment by Wausau to the Trust of $3,800,000 as a
      settlement amount within 30 days of the Trigger Date, as
      defined in the Agreement.

  (b) The payment of the Settlement Amount without need for
      litigation to enforce the assignment by Grace to the Trust
      of rights under the Subject Policies.

  (c) A compromise of defenses that Wausau might have with
      respect to coverage for any individual Asbestos PI Claim.

The Agreement also includes a complete, mutual release of all
claims under the Subject Policies and is structured as a sale of
property pursuant to Section 363 of the Bankruptcy Code.  The
Agreement further provides that if a Chapter 11 plan of
reorganization is confirmed in the Debtors' cases, the Trust, at
its own expense, will enforce the Asbestos PI Channeling
Injunction with respect to Asbestos PI Claims that are asserted
against Wausau and Nationwide Indemnity Company.

The Trust's obligation ceases after it has spent a sum equivalent
to the Settlement Amount.

The Parties ask Judge Fitzgerald to approve the Settlement
Agreement.

                          About W.R. Grace

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.

The Company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and Laura

Davis Jones, Esq., at Pachulski Stang Ziehl & Jones, LLP,
represent the Debtors in their restructuring efforts.  The Debtors
hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.  Stroock &
Stroock & Lavan, LLP, and Duane Morris, LLP, represent the
Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.  David T. Austern, the legal representative of future
asbestos personal injury claimants, is represented by Orrick
Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace and its debtor affiliates, with the support of the
Official Committee of Asbestos Personal Injury Claimants, the
Asbestos PI Future Claimants' Representative and the Official
Committee of Equity Security Holders, have submitted a proposed
Chapter 11 plan of reorganization.  The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.  The Plan confirmation hearing
wrapped up on January 25.

Bankruptcy Creditors' Service, Inc., publishes W.R. Grace
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by W.R. Grace, W.R. Grace Co. - Conn. and their
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


WYNNE VIEW: Case Summary & 10 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Wynne View, Inc
        P.O. Box 115
        Belhaven, NC 27810

Bankruptcy Case No.: 10-05549

Chapter 11 Petition Date: July 13, 2010

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

Judge: Stephani W. Humrickhouse

Debtor's Counsel: Robert Lewis, Jr., Esq.
                  The Lewis Law Firm, P.A.
                  803 C East Main Street
                  Havelock, NC 28532
                  Tel: (252) 444-1717
                  Fax: (252) 444-8667
                  E-mail: lewislaw@embarqmail.com

Scheduled Assets: $1,517,815

Scheduled Debts: $781,091

A list of the Company's 10 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nceb10-05549.pdf

The petition was signed by Martin Overholt, CEO.


* Insurer Losses Trigger Most Regulator Intervention in a Decade
----------------------------------------------------------------
U.S. life/health (L/H) financial impairments in 2009 totaled 12, a
high for this decade and a fourfold increase from a decade low of
three in 2006.  Accident and health (A&H), group and ordinary life
insurance were equally represented in the 2009 financially
impaired companies (FIC), with the three business lines making up
92% of the year's impairments.  An A&H insurer also was added to
2008, bringing that year's count to nine.  Two FICs for 2010 have
been identified, so far, and both are A&H insurers.  A.M. Best Co.
believes that the current economic backdrop and operating
environment are conducive to creating more FICs in 2010.

Although the L/H industry's financial performance vastly improved
in 2009, compared with the battering that balance sheets
experienced in 2008 at the height of the global financial crisis,
pressures on revenue growth and investment challenges remain.
This mixed picture demonstrates that the life/health insurance
industry has yet to fully shake off some of the lingering effects
of the financial crisis.

     -- The 12 impairments in 2009 led to the annual financial
        impairment frequency (FIF) rising to 0.81%, up from 0.59%
        in 2008. The life/health industry's annual FIF had been as
        low as 0.19% in 2006.

     -- Five FICs in 2009 were related to investment problems and
        another five to inadequate pricing/deficient loss
        reserves. Nonadmitted assets contributed to the impairment
        of two other insurers. A few of the FICs also faced
        operational challenges in recent years in specific
        business lines.

     -- Over the near term, A.M. Best expects an increase in the
        L/H FIF equal or above the historical average, as insurers
        currently face challenges from macroeconomic issues as
        well as industry-specific concerns.

Founded in 1899, A.M. Best Company is a global full-service credit
rating organization dedicated to serving the financial and health
care service industries, including insurance companies, banks,
hospitals and health care system providers.


* S&P/Experian Index Confirms Declining Trend of Default Rates
--------------------------------------------------------------
Data through June 2010, released today by Standard & Poor's and
Experian for the S&P/Experian Consumer Credit Default Indices, a
comprehensive measure of changes in consumer credit defaults, show
that the monthly default rates declined for all five credit lines.
Defaulting balances of bank card loans were 8.8% in June, down
from 8.9% in May.  First and second mortgage default rates were
3.3% and 2.4% respectively, with first mortgage default rates
declining 5.0% from last month and 45.2% from a year ago.  Auto
loan defaults were 1.7% in June, down from 1.8% in May.

"The consumer credit picture shows encouraging progress as default
rates continue to fall across major categories and in the
highlighted cities.  The data are consistent with reports that
people continue to eschew debt and as the slow recovery from
recession and financial turmoil continues.  For the economy this
is mixed news - better credit quality, as seen in this report is
clearly positive.  However, as reported earlier by the Federal
Reserve, consumers credit use is declining, dampening the outlook
for spending," says David M. Blitzer, Managing Director and
Chairman of the Index Committee at Standard & Poor's.

Consumer credit defaults vary across major cities and regions of
the U.S. Among the five major Metropolitan Statistical Areas
reported each month in this release, New York had the largest
decline in defaults in the last month at 12.11% while Dallas
showed the smallest decrease of 29.59% in the past year.  The
sharpest decline was in Miami where defaults have declined 53.55%
in the last 12 months.

The table gives summary results for June 2010 for the S&P/Experian
Credit Default Indices.  These data are not seasonally adjusted
and are not subject to revision.


* Troubled North Carolina Banks Jump 74% to 40 from 2009
--------------------------------------------------------
David Mildenberg at Bloomberg News reports that 40 of North
Carolina's 86 state-chartered banks are on a regulator's list of
troubled institutions, a 74% increase from a year earlier.

Seven of the 40 banks face regulatory enforcement actions, Ha
Nguyen, spokeswoman for the North Carolina Banking Commission,
said in a telephone interview with Bloomberg.  The commission
defines troubled banks as having a composite rating of 3 or
greater under the Camel system, which refers to ratings of a
bank's capital adequacy, asset quality, management, earnings,
liquidity and sensitivity to market risk.

Just two North Carolina banks have failed since Jan. 1, 2008,
compared with 41 in Georgia, which has had more bank failures than
any other state during the past two-and-a-half years, according to
the Federal Deposit Insurance Corp.


* Chapter 11 Cases with Assets & Liabilities Below $1,000,000
-------------------------------------------------------------
Recent Chapter 11 cases filed with assets and liabilities below
$1,000,000:

In Re Daniel J. Loehnis
   Bankr. D. Ariz. Case No. 10-20642
     Chapter 11 Petition Filed July 1, 2010
         See http://bankrupt.com/misc/azb10-20642.pdf

In Re Joseph H. Bouise, III
        aka H Joseph Bouise
        aka Joe Bouise
          Marla J. Bouise
   Bankr. D. Ariz. Case No. 10-20666
     Chapter 11 Petition Filed July 1, 2010
         Filed As Pro Se

In Re Sport Collectors Guild, Inc.
   Bankr. D. Ariz. Case No. 10-20658
     Chapter 11 Petition Filed July 1, 2010
         Filed As Pro Se

In Re James Sheridan Valentine, II
      Kimberly Ann Valentine
   Bankr. D. Ariz. Case No. 10-20843
     Chapter 11 Petition Filed July 2, 2010
         See http://bankrupt.com/misc/azb10-20843.pdf

In Re Eskander Khamooshpour
   Bankr. D. Ariz. Case No. 10-21773
     Chapter 11 Petition Filed July 12, 2010
         See http://bankrupt.com/misc/azb10-21773.pdf

In Re ROTRANS
   Bankr. C.D. Calif. Case No. 10-31592
      Chapter 11 Petition Filed July 12, 2010
         See http://bankrupt.com/misc/cacb10-31592.pdf

In Re TLC Kennels, LLC
   Bankr. D. Conn. Case No. 10-51642
      Chapter 11 Petition Filed July 12, 2010
         Filed As Pro Se

In Re TopSpin Medical, Inc.
   Bankr. D. Dela. Case No. 10-12213
      Chapter 11 Petition Filed July 12, 2010
         See http://bankrupt.com/misc/deb10-12213.pdf

In Re Stanley Davis Kight
        aka Stanley D Kight
      Kathryn M. Kight
        aka Kathryn M. Hawkins-Kight
   Bankr. M.D. Fla. Case No. 10-05970
      Chapter 11 Petition Filed July 12, 2010
         See http://bankrupt.com/misc/flmb10-05970.pdf

In Re Bear Investments, LLC
   Bankr. D. Idaho Case No. 10-41234
      Chapter 11 Petition Filed July 12, 2010
         See http://bankrupt.com/misc/idb10-41234.pdf

In Re Nortronics, Corp.
   Bankr. S.D. N.Y. Case No. 10-13682
      Chapter 11 Petition Filed July 12, 2010
         See http://bankrupt.com/misc/nysb10-13682.pdf

In Re Knickerbocker Enterprises, LP
   Bankr. M.D. Tenn. Case No. 10-07225
      Chapter 11 Petition Filed July 12, 2010
         See http://bankrupt.com/misc/tnmb10-07225.pdf

In Re Christ Healing Church
   Bankr. S.D. Texas Case No. 10-35919
      Chapter 11 Petition Filed July 12, 2010
         See http://bankrupt.com/misc/txsb10-35919.pdf

In Re KRS Inc.
        dba Sunshine Delivery
   Bankr. W.D. Wash. Case No. 10-18040
      Chapter 11 Petition Filed July 12, 2010
         See http://bankrupt.com/misc/wawb10-18040.pdf

In Re Stephanie Ann Jurgens
   Bankr. D. Ariz. Case No. 10-21876
     Chapter 11 Petition Filed July 13, 2010
         See http://bankrupt.com/misc/azb10-21876.pdf

In Re Humantouch, Inc.
   Bankr. C.D. Calif. Case No. 10-18492
      Chapter 11 Petition Filed July 13, 2010
         See http://bankrupt.com/misc/cacb10-18492.pdf

In Re Victor Gonzalez
      Ines Santana Gonzalez
   Bankr. C.D. Calif. Case No. 10-18500
      Chapter 11 Petition Filed July 13, 2010
         See http://bankrupt.com/misc/cacb10-18500.pdf

In Re Beverly Anne Feusier
   Bankr. N.D. Calif. Case No. 10-47885
      Chapter 11 Petition Filed July 13, 2010
         Filed As Pro Se

In Re Florida Freight & Company, Inc.
   Bankr. M.D. Fla. Case No. 10-16650
      Chapter 11 Petition Filed July 13, 2010
         See http://bankrupt.com/misc/flmb10-16650.pdf

In Re Gonzalez Family Trust
   Bankr. S.D. Fla. Case No. 10-29882
      Chapter 11 Petition Filed July 13, 2010
         See http://bankrupt.com/misc/flsb10-29882.pdf

In Re Lobo Ventures, LLC
   Bankr. D. Idaho Case No. 10-20908
      Chapter 11 Petition Filed July 13, 2010
         See http://bankrupt.com/misc/idb10-20908.pdf

In Re El Matador, Inc.
   Bankr. C.D. Ill. Case No. 10-72202
      Chapter 11 Petition Filed July 13, 2010
         See http://bankrupt.com/misc/ilcb10-72202.pdf

In Re Eric O. Clay
   Bankr. D. Md. Case No. 10-25707
      Chapter 11 Petition Filed July 13, 2010
         See http://bankrupt.com/misc/mdb10-25707.pdf

In Re 2800 Huber Heights Drive, LLC
   Bankr. D. Nev. Case No. 10-22960
      Chapter 11 Petition Filed July 13, 2010
         See http://bankrupt.com/misc/nvb10-22960.pdf

In Re Ralph Stephen Coppola
   Bankr. D. Nev. Case No. 10-52731
      Chapter 11 Petition Filed July 13, 2010
         Filed As Pro Se

In Re Interaqt Corporation
        dba Colotraq
   Bankr. D. N.J. Case No. 10-31401
      Chapter 11 Petition Filed July 13, 2010
         See http://bankrupt.com/misc/njb10-31401.pdf

In Re Commack Road Donuts, LLC
   Bankr. E.D. N.Y. Case No. 10-75440
      Chapter 11 Petition Filed July 13, 2010
         See http://bankrupt.com/misc/nyeb10-75440.pdf

In Re FPSDA I, LLC
   Bankr. E.D. N.Y. Case No. 10-75439
      Chapter 11 Petition Filed July 13, 2010
         See http://bankrupt.com/misc/nyeb10-75439.pdf

In Re Everett Lowe
   Bankr. M.D. Tenn. Case No. 10-07272
      Chapter 11 Petition Filed July 13, 2010
         See http://bankrupt.com/misc/tnmb10-07272.pdf

In Re DSDP, LLC
   Bankr. D. Ariz. Case No. 10-21918
     Chapter 11 Petition Filed July 14, 2010
         See http://bankrupt.com/misc/azb10-21918.pdf

In Re Anthony Torres
      Patricia Torres
   Bankr. C.D. Calif. Case No. 10-38963
      Chapter 11 Petition Filed July 14, 2010
         See http://bankrupt.com/misc/cacb10-38963.pdf

In Re 4550 San Pablo Ave., LLC
   Bankr. N.D. Calif. Case No. 10-47964
      Chapter 11 Petition Filed July 14, 2010
         Filed As Pro Se

In Re LLC Distinguished Charters
   Bankr. N.D. Calif. Case No. 10-47975
      Chapter 11 Petition Filed July 14, 2010
         See http://bankrupt.com/misc/canb10-47975.pdf

In Re Nancy Tenuta
   Bankr. N.D. Calif. Case No. 10-47974
      Chapter 11 Petition Filed July 14, 2010
         Filed As Pro Se

In Re Rosalie Guancione, A Maritime Trust
   Bankr. N.D. Calif. Case No. 10-57229
     Chapter 11 Petition Filed July 14, 2010
         Filed As Pro Se

In Re Eva Marie Schofield
   Bankr. D. Nev. Case No. 10-23112
      Chapter 11 Petition Filed July 14, 2010
         See http://bankrupt.com/misc/nvb10-23112.pdf

In Re Richard Griffiths
   Bankr. D. Nev. Case No. 10-23126
      Chapter 11 Petition Filed July 14, 2010
         See http://bankrupt.com/misc/nvb10-23126.pdf

In Re Blue Point Ventures, LLC
   Bankr. E.D. N.Y. Case No. 10-75463
      Chapter 11 Petition Filed July 14, 2010
         See http://bankrupt.com/misc/nyeb10-75463.pdf

In Re D3C, LLC
   Bankr. E.D. N.Y. Case No. 10-75453
      Chapter 11 Petition Filed July 14, 2010
         See http://bankrupt.com/misc/nyeb10-75453.pdf

In Re Hub Hope Corp.
   Bankr. E.D. N.Y. Case No. 10-46637
      Chapter 11 Petition Filed July 14, 2010
         See http://bankrupt.com/misc/nyeb10-46637.pdf

In Re Cuba Corp.
   Bankr. E.D. Pa. Case No. 10-15777
      Chapter 11 Petition Filed July 14, 2010
         See http://bankrupt.com/misc/paeb10-15777.pdf

In Re JK N JK Trucking, LLC
   Bankr. D. Ariz. Case No. 10-22207
     Chapter 11 Petition Filed July 15, 2010
         See http://bankrupt.com/misc/azb10-22207.pdf

In Re Amadeus Trust
   Bankr. C.D. Calif. Case No. 10-39069
     Chapter 11 Petition Filed July 15, 2010
         Filed As Pro Se

In Re BLUWOLF, Inc.
        dba Mega Maids
   Bankr. C.D. Calif. Case No. 10-19721
      Chapter 11 Petition Filed July 15, 2010
         See http://bankrupt.com/misc/cacb10-19721.pdf

In Re Donald David Simpson
   Bankr. C.D. Calif. Case No. 10-19745
      Chapter 11 Petition Filed July 15, 2010
         See http://bankrupt.com/misc/cacb10-19745.pdf

In Re All Waste Systems, Inc.
   Bankr. E.D. Calif. Case No. 10-38564
      Chapter 11 Petition Filed July 15, 2010
         See http://bankrupt.com/misc/caeb10-38564.pdf

In Re Salmo Partners LLC
   Bankr. D. Colo. Case No. 10-27691
     Chapter 11 Petition Filed July 15, 2010
         Filed As Pro Se

In Re James Coten Darling
   Bankr. D. Md. Case No. 10-25886
      Chapter 11 Petition Filed July 15, 2010
         See http://bankrupt.com/misc/mdb10-25886.pdf

In Re Victor Hugo Sandoval
      Miriam Yesenia Sandoval
   Bankr. D. Mass. Case No. 10-17679
      Chapter 11 Petition Filed July 15, 2010
         See http://bankrupt.com/misc/mab10-17679.pdf

In Re Mayo Pizza, Inc.
        dba Mijo's Pizza
   Bankr. D. N.J. Case No. 10-31737
      Chapter 11 Petition Filed July 15, 2010
         See http://bankrupt.com/misc/njb10-31737.pdf

In Re Display Group, Inc.
   Bankr. E.D. N.Y. Case No. 10-75502
     Chapter 11 Petition Filed July 15, 2010
         See http://bankrupt.com/misc/nyeb10-75502.pdf

In Re Industrial Laser Systems, LLC
   Bankr. W.D. Pa. Case No. 10-25054
     Chapter 11 Petition Filed July 15, 2010
         See http://bankrupt.com/misc/pawb10-25054.pdf

In Re Julia's Fine Jewelry, LLC
   Bankr. E.D. Va. Case No. 10-15948
     Chapter 11 Petition Filed July 15, 2010
         See http://bankrupt.com/misc/vaeb10-15948.pdf

In Re Shellise Bartom Montgomery
   Bankr. W.D. Wash. Case No. 10-18175
     Chapter 11 Petition Filed July 15, 2010
         Filed As Pro Se

In Re Aquatic Engineering, lnc.
   Bankr. W.D. Wis. Case No. 10-15353
     Chapter 11 Petition Filed July 15, 2010
         See http://bankrupt.com/misc/wiwb10-15353.pdf

In Re ENPI, Inc.
        dba Nathanson's Photography
   Bankr. C.D. Calif. Case No. 10-39386
     Chapter 11 Petition Filed July 16, 2010
         See http://bankrupt.com/misc/cacb10-39386.pdf

In Re Ywan-Lung Tsay
        aka Cliff Tsay
      Hsiu-Mei Tsay
        aka Sue Tsay
   Bankr. N.D. Calif. Case No. 10-48088
     Chapter 11 Petition Filed July 16, 2010
         Filed As Pro Se

In Re Kolo, Inc.
   Bankr. S.D. Fla. Case No. 10-30439
     Chapter 11 Petition Filed July 17, 2010
         See http://bankrupt.com/misc/flsb10-30439p.pdf
         See http://bankrupt.com/misc/flsb10-30439c.pdf

In Re Redfrog Technology, LLC
        dba Redfrog Technologies LLC
   Bankr. W.D. Mich. Case No. 10-08829
     Chapter 11 Petition Filed July 16, 2010
         See http://bankrupt.com/misc/miwb10-08829.pdf

In Re 330 Neptune Avenue Corp.
   Bankr. E.D. N.Y. Case No. 10-46716
     Chapter 11 Petition Filed July 16, 2010
         See http://bankrupt.com/misc/nyeb10-46716.pdf

In Re Harbor Land Holding Corp
   Bankr. N.D. N.Y. Case No. 10-12670  10-12663
     Chapter 11 Petition Filed July 16, 2010
         See http://bankrupt.com/misc/nynb10-12670.pdf
         See http://bankrupt.com/misc/nynb10-12663.pdf

In Re G. Force Investments, Inc.
   Bankr. N.D. Ohio Case No. 10-34877
     Chapter 11 Petition Filed July 16, 2010
         See http://bankrupt.com/misc/ohnb10-34877.pdf

In Re J & J Restaurant Associates, Inc.
   Bankr. E.D. Pa. Case No. 10-15902
     Chapter 11 Petition Filed July 16, 2010
         See http://bankrupt.com/misc/paeb10-15902.pdf

In Re Resort Hospitality, LLC
        fdba Antigua Bay Resort
        fdba Howard Johnson Antigua Bay Waterpark
        fdba Sidewinders
        dba Dells Island Resort
   Bankr. W.D. Wis. Case No. 10-15385
     Chapter 11 Petition Filed July 16, 2010
         See http://bankrupt.com/misc/wiwb10-15385.pdf

In Re Crystal Clear Glass, Inc.
        ta Crystal Clear Glass & Mirror
   Bankr. S.D. Fla. Case No. 10-30438
     Chapter 11 Petition Filed July 17, 2010
         See http://bankrupt.com/misc/flsb10-30438.pdf



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

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S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Howard
C. Tolentino, Joseph Medel C. Martirez, Denise Marie Varquez,
Philline Reluya, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2010.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


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