TCR_Public/100803.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

             Tuesday, August 3, 2010, Vol. 14, No. 213

                            Headlines


2650 NORTH: Voluntary Chapter 11 Case Summary
ABDI MANAVI: Case Summary & 6 Largest Unsecured Creditors
ABITIBIBOWATER INC: Aurelius Still Opposing Rights Offer
ABITIBIBOWATER INC: Wins Nod to Solicit Votes for Plan
ACCURIDE CORP: S&P Assigns 'B' Corporate Credit Rating

ADVANCE FOOD: Moody's Reviews 'B1' Corporate Family Rating
ALMATIS BV: Oaktree Says DIC Plan Leaves Too Much Debt
AMERICAN INT'L: Goldman Files Docs Detailing Valuation of CDOs
AMERICAN SAFETY: Case Summary & 30 Largest Unsecured Creditors
AMN HEALTHCARE: Moody's Reviews 'Ba2' Corporate Family Rating

APPTIS INC: Moody's Affirms 'Caa1' Corporate Family Rating
ARROW AIR: Proposes August 25 Auction for Business
ARS ANALYTICAL: Court Converts Case to Chapter 7
ASARCO LLC: Bankr. Court OKs Cohen Weiss' Fees; Debtor Appeals
ASARCO LLC: Plan Admin. Wants to Close 22 Affiliate Cases

ASARCO LLC: To Be Consolidated with SCC in $6 Billion Deal
AVIS BUDGET: Fitch Puts 'B+' Issuer Rating on Evolving Watch
BANKRUPTCY MANAGEMENT: Reaches Deal for Debt-for-Equity Exchange
BANKRUPTCY MANAGEMENT: Moody's Withdraws Caa2 Corp. Family Rating
BIO-KEY INT'L: Posts $234,800 Net Income for June 30 Quarter

BROOKFIELD ASSET MANAGEMENT: Emerges from Chapter 11
CALIFORNIA COASTAL: Raising $15 Million of Additional Capital
CBMK INVESTMENTS: Case Summary & 2 Largest Unsecured Creditors
CCS CORP: S&P Changes Outlook to Stable, Affirms 'B' Ratings
CHARLES RIVER: Wuxi Deal Termination Won't Move Moody's Ba2 Rating

CIRCUIT CITY: Reaches Deal with Committee on New Plan
COLETO CREEK: S&P Affirms 'B+' Rating on $735 Mil. Senior Loan
CONNECTOR 2000: South Carolina Moves to Dismiss Chapter 9 Case
COUNTERPATH CORP: BDO Canada Raises Going Concern Doubt
COUDERT BROTHERS: Baker & McKenzie Settles Suit for $6-Mil.

CHARYS HOLDING: Growth Mgt. Loses Bid to Dismiss Clawback Suit
CRISTINA HIPOLITO: Voluntary Chapter 11 Case Summary
CROWNE SORELLE: Voluntary Chapter 11 Case Summary
CUMULUS MEDIA: Posts $12.3 Million Net Income for June 30 Quarter
CURTIS SCHROEDER: Case Summary & 16 Largest Unsecured Creditors

DANA HOLDING: Posts $9 Million Net Income for June 30 Quarter
DANIEL DOVE: Case Summary & 20 Largest Unsecured Creditors
DAVID CARPENTER: Case Summary & 20 Largest Unsecured Creditors
DAVID LEVY: Case Summary & 15 Largest Unsecured Creditors
DEAN GROSS: Case Summary & 20 Largest Unsecured Creditors

DELAWARE HEALTH: S&P Removes 'CCC' Rating from Developing Watch
DELPHI CORP: DAS May Close Kokomo Operations, Says UAW
DELPHI CORP: Excellus Health Wants Late Claim Allowed
DENTAL PLUS: Case Summary & 13 Largest Unsecured Creditors
DHILLON PROPERTIES: Wells Fargo Objects to Cash Collateral Use

DON WATKINSON: Case Summary & 20 Largest Unsecured Creditors
DOT VN: Chang Park CPA Raises Going Concern Doubt
DTE ENERGY: Moody's Gives Stable Outlook, Affirms 'Ba3' Rating
DUN & BRADSTREET: Net Income Down to $56.0-Mil. in 2nd Quarter
ENTERPRISE PRODUCTS: Fitch Affirms 'BB' Rating on Junior Notes

ENVIRONMENTAL POWER: Files for Chapter 7 Protection
EURONET WORLDWIDE: S&P Gives Positive Outlook, Affirms 'BB' Rating
EVEREST HOLDINGS: U.S. Trustee Balks at Omissions to Plan Outline
FAYETTEVILLE MARKETFAIR: Can Continue Using Cash Collateral
FEDERAL-MOGUL: Asbestos Trust Gets CNA Injunction Extension

FEDERAL-MOGUL: Gets Dec. 27 Extension for Claims Objections
FEDERAL-MOGUL: Reports $49 Million Second Quarter Net Profit
FIRST AMERICAN: Case Summary & 3 Largest Unsecured Creditors
FIRST CHESTER: Grant Thornton Raises Going Concern Doubt
FOUNTAIN VILLAGE: Gets Final Court Okay to Use Cash Collateral

FRANK ALAMPRESE: Case Summary & 18 Largest Unsecured Creditors
FRANK JODZIO: Gets Interim OK on 2nd Plea to Use Cash Collateral
FRONTIER DRILLING: S&P Raises Corporate Credit Rating From 'CCC'
GOSPEL UPTOWN: Case Summary & 20 Largest Unsecured Creditors
GREAT ATLANTIC: Files Quarterly Report on Form 10-Q With SEC

GUN LAKE: S&P Assigns 'B' Rating on $165 Mil. Senior Loan
HARRY STONE: Case Summary & 18 Largest Unsecured Creditors
HCA INC: Posts $293 Million Net Income for June 30 Quarter
HYDROGENICS CORP: Posts $1 Million Net Loss in Q2 Ended June 30
I/OMAGIC CORPORATION: Posts $182,800 Net Loss in June 30 Quarter

ILS GRAND: Case Summary & 8 Largest Unsecured Creditors
JAY HINE: Case Summary & 20 Largest Unsecured Creditors
JERRY STONE: Case Summary & 20 Largest Unsecured Creditors
JOHN WOODBURN: Case Summary & 19 Largest Unsecured Creditors
JONATHAN LEDESMA: Case Summary & 20 Largest Unsecured Creditors

JOSEPH DELGRECO: DLA Piper Malpractice Suit Moved to Bankr. Court
KEARNEY CONSTRUCTION: Court Directs Indemnitors to Post Collateral
K-V PHARMACEUTICAL: Gets Non-Compliance Notice From NYSE
KIM LAUBE: Case Summary & 20 Largest Unsecured Creditors
KOLORFUSION INTERNATIONAL: Files for Chapter 11 Reorganization

LEGACY HOUSE: Case Summary & 11 Largest Unsecured Creditors
LEHMAN BROTHERS: Wachovia Ducks Claims in $15-Mil. Loss Suit
LEVERTON INVESTMENTS: Case Summary & 6 Largest Unsecured Creditors
LIBBEY INC: Posts $9.6 Million Net Income for 2nd Quarter 2010
LNR PROPERTY: S&P Changes Counterparty Credit Ratings to 'SD'

MARBELLA FOOD: Case Summary & 20 Largest Unsecured Creditors
MARC BARNES: Files for Bankruptcy to Ward Off Foreclosure
MCCLATCHY COMPANY: Posts $7.3 Million Net Income for 2nd Qtr 2010
MESA AIR: Court Approves Settlement with UAL
MESA AIR: Files Omnibus Objections to Assume, Reject Leases

MESA AIR: Wants Plan Exclusivity Until December 1
MIDDLEBROOK PHARMACEUTICALS: Completes Sale of All Assets
MINISTER INSURANCE: U.S. Recognition Hearing Set for Aug. 27
MYLAN INC: S&P Affirms 'BB-' Rating on Senior Unsecured Notes
NEENAH ENTERPRISES: GE Capital Served Agent for Exit Financing

NELSON SANCHEZ: Case Summary & 13 Largest Unsecured Creditors
NEXCEN BRANDS: Shareholders Approve Sale to Global Franchise
NIVIE SAMAAN-LLOYD: Case Summary & 20 Largest Unsecured Creditors
NORD RESOURCES: Has Deal with Trade Creditor on Debt Conversion
NTELOS HOLDINGS: S&P Affirms 'BB-' Corporate Credit Rating

NUVEEN INVESTMENTS: U.S. Bancorp to Get 9.5% Stake for FAF
OAKWOOD APARTMENTS: Case Summary & 13 Largest Unsecured Creditors
ORIENTAL TRADING: May File for Bankruptcy or Sold, NY Times Says
PACIFICA MESA: Taps William Hoffman as Chief Restructuring Officer
PARLUX FRAGRANCES: Posts $232,000 Net Income for June 30 Quarter

PARMALAT SPA: Appeals Court Affirms Tanzi's 10-Year Sentence
PARMALAT SPA: Bondi Wants Certification on Appeal of GTIL Order
PATRICK KEERY: Case Summary & 20 Largest Unsecured Creditors
PAUL MADISON: Case Summary & 20 Largest Unsecured Creditors
PHILADELPHIA NEWSPAPERS: Journalist Loses Bid for Admin. Claim

PHILLIP ELKINS: Case Summary & 16 Largest Unsecured Creditors
PIERRE FOODS: Moody's Reviews 'B2' Corporate Family Rating
PIERRE FOODS: S&P Gives Negative Outlook, Affirms 'B' Rating
PLATINUM ENERGY: Posts $957,800 Net Loss in Q1 Ended March 31
POINT BLANK: U.S. Trustee Seeks Examiner for Company

PRINCETON HOMES: Case Summary & 20 Largest Unsecured Creditors
PROTECH HOLDINGS: Voluntary Chapter 11 Case Summary
REGAL ENTERTAINMENT: Posts $4.8 Million Net Income for June 30 Qtr
RESORT HOLDINGS: Case Summary & Largest Unsecured Creditor
REVLON CONSUMER: Posts $18.8 Million Net Income for June 30 Qtr.

REVLON INC: Posts $16.4 Million Net Income for June 30 Quarter
RICHARD GLADSTONE: Case Summary & 20 Largest Unsecured Creditors
RICHARD GOLDENBERG: Case Summary & 5 Largest Unsecured Creditors
RIVER ROAD: FDIC Seeks to Intervene in Bankruptcy Case
RIVIERA HOLDINGS: S&P Downgrades Corporate Credit Rating to 'D'

ROBINO-BAY COURT: Case Summary & 17 Largest Unsecured Creditors
ROSSCO PLAZA: Case Summary & 20 Largest Unsecured Creditors
ROTHSTEIN ROSENFELDT: Trustee Sues Florida GOP to Recoup Donations
SALLY BEAUTY: Posts $41.1 Million Net Earnings for June 30 Quarter
SEA LAUNCH: Plan of Reorganization Confirmed

SOUTH BAY: Summary Judgement on Suit vs. Lienholders Declined
STATION CASINOS: Plan Confirmation Hearing Starts August 27
STATION CASINOS: S&P Withdraws 'D' Corporate Credit Rating
STORM KING: Case Summary & 20 Largest Unsecured Creditors
STRATEGIC PARTNERS: S&P Assigns 'B' Rating on Senior Bank Loan

SUMMIT HOTEL: Inks Amended Loan Agreement with First Nat'l Bank
SUNSHINE ENERGY: Voluntary Chapter 11 Case Summary
SUNWEST MANAGEMENT: Marcus Completes Sale of Willow Creek
TENNECO INC: Fitch Upgrades Issuer Default Rating to 'BB-'
TENNECO INC: Fitch Upgrades Issuer Default Rating to 'BB-'

TERESA GUIDICE: Auction of Assets Set for August 22
TEXAS RANGERS: Court Won't Cancel Auction Despite New Offer
TEXAS RANGERS: News Corp. Mulls Bid; Cuban-Monarch Tie-Up Seen
TRIBUNE CO: Houlihan Lokey Refused to Give "Solvency Opinion"
TRIBUNE CO: Loan Agent Wants Delay of Plan Confirmation

TRIBUNE CO: Creditors Win Access to Examiner Report
TRIBUNE CO: Interactive Unit Promotes Jeff Kapugi to COO
TRICO MARINE: Inks 2nd Amended Credit Deal with Nordea & Obsidian
TTR MATTESON: Asks for Court's Permission to Use Cash Collateral
UNI-PIXEL INC: Earns $676,300 in Q2 Ended June 30

UNIFI INC: Posts $5.5 Million Net Income for June 27 Quarter
UNITED COMPONENTS: S&P Puts 'B-' Rating on CreditWatch Positive
USEC INC: Amends Credit Agreement with New Alliance & JPMorgan
USG CORPORATION: Files Quarterly Report on Form 10-Q
VALENCE TECHNOLOGY: Board OKs Shares Sale to Berg & Berg

VERTIS INC: Moody's Assigns 'B3' Rating on $425 Mil. Senior Loan
VILLAGEEDOCS INC: Defers Payment of Debt from Questys Buyout
VISTEON CORP: Union Seeks More Voting Power on Proposed Plan
VISTEON CORP: Seeks Rehearing on Retiree Benefit Appeal
WARNER CHILCOTT: Moody's Affirms 'B1' Corporate Family Rating

WM PROPERTIES: Case Summary & Largest Unsecured Creditor
WORLD BLESSING: Case Summary & 20 Largest Unsecured Creditors

* CFTC Eases Trading Restrictions for Bankrupt Companies
* P/E-Backed Stone Bank Still Awaits FDIC Approval to Buy Banks

* Ex-Kaye Scholer Atty. Indicted for Bankruptcy Fraud

* Large Companies With Insolvent Balance Sheets


                            ********


2650 NORTH: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: 2650 North Halsted LLC
        811 West Superior Street
        Chicago, IL 60642
        Tel: (312) 275-0188

Bankruptcy Case No.: 10-33795

Chapter 11 Petition Date: July 29, 2010

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

Judge: John H. Squires

Debtor's Counsel: Aaron Spivack, Esq.
                  Law Offices of Aaron Spivack
                  811 W. Superior
                  Chicago, IL 60642
                  Tel: (312) 275-0188
                  E-mail: law@aspivack.com

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

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

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

The petition was signed by Joseph Zivkovic.


ABDI MANAVI: Case Summary & 6 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Abdi Manavi
          dba Abstract Ward Company
        6221 Hollymont Drive
        Los Angeles, CA 90068

Bankruptcy Case No.: 10-41352

Chapter 11 Petition Date: July 28, 2010

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

Judge: Samuel L. Bufford

Debtor's Counsel: Lorraine L. Loder, Esq.
                  Law Office of Lorraine L Loder
                  601 W Fifth Street, 8th Floor
                  Los Angeles, CA 90071
                  Tel: (213) 623-8774
                  Fax: (213) 623-1409
                  E-mail: lloder@sbcglobal.net

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

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

A copy of the Debtor's list of 6 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/cacb10-41352.pdf

The petition was signed by the Debtor.


ABITIBIBOWATER INC: Aurelius Still Opposing Rights Offer
--------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Aurelius Capital
Management LP and Contrarian Capital Management LLC aren't
satisfied with changes that AbitibiBowater Inc. made in the
reorganization plan allowing them tentative participation in the
backstopped rights offering enabling specified creditor classes to
buy $500 million in convertible notes.  Aurelius and Contrarian
object to how the revised proposal requires them to put the
purchase price into escrow although they might not receive the
securities until years later when the disputed claim is
determined.  Aurelius and Contrarian want the bankruptcy judge to
allow them to pay for the securities only when their claims are
approved.  Aurelius Capital and Contrarian previously claimed to
have a blocking position from ownership of notes representing more
than one-third of unsecured claims against Bowater.

As reported by the TCR on July 28, 2010, AbitibiBowater is
proposing to amend the commitment agreement for the $500 million
rights offering to permit creditors of a Bowater financing
subsidiary to buy stock if their claims are eventually approved.
The amendment will also extend the deadline for approval of the
disclosure statement until Aug. 6.  The Company's proposed
reorganization plan is financed in part by an offering to sell
$500 million in convertible notes.

                     About AbitibiBowater

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

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

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

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

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


ABITIBIBOWATER INC: Wins Nod to Solicit Votes for Plan
------------------------------------------------------
AbitibiBowater Inc. disclosed that in connection with the
Company's ongoing creditor protection proceedings, the U.S.
Bankruptcy Court for the District of Delaware approved on
August 2, 2010 the Company's solicitation materials for its U.S.
plan of reorganization under chapter 11 of the U.S. Bankruptcy
Code.  The Company had obtained on July 9, 2010 the Quebec
Superior Court's approval for the mailing of solicitation
materials and related disclosure documents for its plan of
reorganization under the Companies' Creditors Arrangement Act
(CCAA).  These approvals now enable AbitibiBowater to start
soliciting votes from creditors to accept or reject its
restructuring plans, in accordance with the applicable court
orders.

The unsecured creditors committee supports the plans and the
disclosure documents.  The Company expects to begin mailing the
solicitation and voting materials in connection with the creditor
protection proceedings to its unsecured creditors, including
employees, on or about August 9, 2010.

"These developments signal significant progress in
AbitibiBowater's restructuring process," stated David J. Paterson,
President and Chief Executive Office.  "We are on track to emerge
in the fall a stronger, more sustainable Company."

Before emerging from creditor protection, the Company must obtain
adequate exit financing and complete efforts to address labor
costs and pension issues, as well as satisfy other conditions set
forth in the plans of reorganization.  Ultimately, the Company's
plans of reorganization will require creditor approval and
confirmation by the U.S. and Canadian Courts.

More information about AbitibiBowater's restructuring process can
be found at http://www.abitibibowater.com or by calling toll-free
888 266-9280.  International callers should dial 503 597-7698.

AbitibiBowater produces a wide range of newsprint, commercial
printing and packaging papers, market pulp and wood products.  It
is the eighth largest publicly traded pulp and paper manufacturer
in the world.  AbitibiBowater owns or operates 21 pulp and paper
facilities and 24 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.

                         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 CORP: S&P Assigns 'B' Corporate Credit Rating
------------------------------------------------------
Standard & Poor's Ratings Services said it has assigned its 'B'
corporate credit rating and stable outlook to Evansville, Ind.-
based Accuride Corp.  S&P also assigned a 'B' issue-level rating
and a '3' recovery rating to Accuride's issuance of $310 million
senior secured notes.  The ratings being assigned are final and
follow the closing of the transaction, which the company announced
yesterday.

Accuride emerged from Chapter 11 bankruptcy protection in February
2010, having reduced debt by about one-third during the bankruptcy
process.  The refinancing does not significantly affect total debt
but improves liquidity by extending debt maturities and adding
borrowing availability, as the company currently has no revolving
credit facility.

"The ratings reflect what S&P considers to be Accuride's highly
leveraged financial risk profile and weak business risk profile,"
said Standard & Poor's credit analyst Gregg Lemos Stein.  "The
ratings also reflect S&P's assumption that heavy-duty truck demand
in North America will improve in the second half of 2010 and in
2011 after a nearly four-year decline.  However, S&P still views
the company's leverage as high and cash flow protection measures
as thin," he continued.

S&P assumes heavy-duty truck production could increase by 10% or
more for all of 2010 compared to 2009 levels, which could lead to
a slightly higher increase in sales for Accuride because of net
new business for military trucks.  S&P expects a more significant
increase in production in 2011 as the industry nears but does not
quite reach normal demand, which S&P currently estimates to be
about 200,000 heavy-duty Class 8 trucks per year.  This assumption
is consistent with S&P's view of a gradual, rather than a robust,
improvement in the economy.

S&P believes Accuride's business risk profile reflects mainly the
extreme volatility of demand rather than any company-specific
problems.  Accuride has good market share as North America's
largest manufacturer of heavy steel wheels and other commercial-
truck components.  Still, its markets are extremely cyclical, and
the company's high fixed-cost base and capital intensity can lead
to large fluctuations in profitability.

Accuride made significant cost reductions during and prior to
bankruptcy, which S&P believes should enable the company to be
profitable and generate positive cash flow with lower industry
sales.  The company estimates annualized cost savings of
$60 million from these initiatives, using 2008 sales as a
comparison.  However, S&P believes Accuride's capacity utilization
in its wheels and components businesses remains very low and may
take several years to enable the company to restore profitability
approaching levels prior to the economic downturn.

The outlook is stable.  S&P assumes truck demand will improve
gradually throughout the rest of 2010 and show a more pronounced
improvement in 2011.  S&P currently assumes demand under normal
economic conditions to be about 200,000 units of production in
North America.  However, volatility in production by Accuride's
key truck maker customers is possible if economic factors fail to
support a return to normal demand.

S&P could raise the ratings if Accuride reduces leverage, as
measured by debt to EBITDA including S&P's adjustments,
significantly below 4x and produces consistent free operating cash
flow that increases total liquidity to $150 million or more.  For
example, if the company were to improve EBITDA margins to 15% or
better, and revenues double from the trough levels of 2009, S&P
estimate that leverage (including S&P's adjustments) could
approach 3.5x or better.  In such a scenario, S&P could revise its
assessment of the financial risk profile to aggressive from highly
leveraged, and under S&P's criteria, this could support an upgrade
of one notch.  An upgrade of more than one notch is unlikely,
given S&P's assessment of the business risk profile as weak due
primarily to high industry volatility.

S&P could lower the ratings if the company fails to generate free
operating cash flow for the remainder of 2010 or for all of 2011,
as S&P believes this would put pressure on liquidity.
Specifically, if total cash plus revolving credit availability
fell below $50 million, S&P could lower the rating.


ADVANCE FOOD: Moody's Reviews 'B1' Corporate Family Rating
----------------------------------------------------------
Moody's Investors Service has placed all ratings of Advance Food
Company, Inc., including the B1 corporate family rating, on review
for possible downgrade.  The ratings actions respond to the
announcement that the Boards of Directors of Pierre Foods, Inc.,
Advance Food and Advance Brands, LLC (not rated by Moody's) have
approved and entered into a definitive merger agreement.  Terms of
the merger agreement have not been disclosed.  The transaction is
subject to customary closing conditions and is expected to close
in the third quarter.  Conclusion of this review is expected to
coincide with the closing of the merger.

Moody's expects the combination of these three entities, which is
reportedly to be named Advance Pierre Foods, is likely to create a
relatively strong player in the U.S. packaged sandwich and
prepared protein markets serving a broad array of channels that
include foodservice, schools, club stores, C-stores, military and
retail.  The review will focus on both the amount and terms of the
debt employed in NewCo's capital structure, and the financial
risks associated with completing the merger.  Additionally, the
review will incorporate Moody's view of post-merger business
risks, notably integration, governance and fiscal policies, as
well as the expected liquidity profile of NewCo.

In the event that the merger results in the retirement of Advance
Food's legacy debt, Moody's will likely confirm and withdraw the
affected ratings

These ratings were placed on review for possible downgrade (Loss
Given Default assessments are subject to change.):

* Corporate family rating at B1;

* Probability of default rating at B1;

* Ba3 (LGD 3, 41%) rating on the $40 million senior secured
  revolving credit facility expiring in March 2012;

* Ba3 (LGD 3, 41%) rating on the $175 million 1st lien term loan
  due March 2012; and

* B3 (LGD 6, 90%) rating on the $50 million 2nd lien term loan due
  September 2014.

The last rating action on Advance Food was the November 10, 2009,
change in outlook to stable from negative.

Headquartered in Enid, Oklahoma, Advance Food is a manufacturer
and marketer of a wide variety of value-added, portion-controlled
meat products sold primarily into the foodservice distribution
channel.  Revenues for the year ended December 28, 2009, were
approximately $527 million.


ALMATIS BV: Oaktree Says DIC Plan Leaves Too Much Debt
------------------------------------------------------
Bill Rochelle at Bloomberg News reports that first-lien lender
Oaktree Capital Management LLC is arguing that Almatis BV will be
saddled with too much debt if a revised reorganization plan goes
through.  Oaktree's bid to buy Almatis fell by the wayside when
Almatis' owner, Dubai International Capital LLC, produced a
substitute plan giving more to second-lien lenders.  Oaktree said
in papers filed July 29 that the new plan is based on "an inflated
valuation" and will leave the Company with "too much debt."  DIC,
which is to provide some of the new financing, "has proven to be
unreliable," Oaktree said.  Oaktree also has "grave concern" about
whether the new plan can be confirmed.

As reported by the TCR on July 29, Almatis B.V. is asking for
approval of a "plan support agreement" on a revised restructuring
proposal arranged by DIC.  DIC arranged the restructuring proposal
after obtaining an underwritten $535 million debt financing.  The
financing would help fully repay Almatis' senior lenders and would
allow Almatis' junior lenders to recover more than under the
existing prepackaged restructuring plan proposed by Oaktree
Capital Management L.P. for the Company.

The Oaktree-led prepackaged restructuring plan filed in late
April has the support of Almatis' senior lenders.  Oaktree
particularly owns 46% of the Company's senior debt.  The
prepackaged plan contemplates that Oaktree would get an 80% stake
in Almatis upon the Company's emergence from bankruptcy.  In
turn, Almatis' debts would be to halve to about $422 million,
with senior lenders which are owed about $680 million, being
offered options under the plan.  The Company also executed a plan
support agreement in relation to the Oaktree-led plan.

DIC and the Company's junior lenders, however, have vigorously
opposed the initial prepackaged plan, asserting that it would
wipe out DIC's equity stake in the Company and the debt claims of
more subordinated mezzanine and second-lien lenders.

DIC's discontent of the Initial Plan led it to come up with an
alternative plan for Almatis that would preserve its interest in
the Company.

If approved, the DIC Plan Support Agreement will pave the way for
Almatis to withdraw its prepackaged plan that pays senior
creditors somewhere in the 85% range and junior creditors hardly
anything, according to New York-based Gibson Dunn & Crutcher LLP,
which represents Almatis.

                      About Almatis Group

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

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

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

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


AMERICAN INT'L: Goldman Files Docs Detailing Valuation of CDOs
--------------------------------------------------------------
The Wall Street Journal's Serena Ng and Carrick Mollenkamp report
that people familiar with the matter said Goldman Sachs Group Inc.
last week submitted documents detailing how it established values
in 2007 and 2008 for mortgage securities insured by American
International Group Inc. to the Financial Crisis Inquiry
Commission, a bipartisan panel probing the crisis.

The Journal relates that Goldman, in a nine-page memo, noted that:

     -- the collateralized-debt obligations AIG had insured rarely
        traded, so Goldman instead used prices from trades in
        other CDOs to "help inform" its valuations on the AIG
        deals; and

     -- Goldman also took some cues from valuations of a popular
        subprime mortgage index known as the ABX.

The Journal says the memo also contained actual prices of trades
Goldman conducted in several CDOs, an effort to show how the firm
itself bought and sold securities at prices similar to what it
provided to AIG as the basis for collateral calls.

"We believe our marks were accurate and reflected the value
markets were placing on the transactions," Goldman said, according
to the Journal.

The Journal reports that Goldman's memo acknowledged that "a
certain degree of judgment was necessary" in valuing the CDOs
because they were so thinly traded.  Goldman said its prices were
based on bids and offers and trades in "comparable instruments,"
as well as valuations it used for residential mortgage-backed
securities and other assets that made up the CDOs.  It also
factored in the lack of liquidity in the credit markets and the
complex make-up of many CDOs, which it said made the CDOs worth
less.

The Journal recalls that at a hearing in Washington a month ago,
the 10-member FCIC panel grilled Goldman executives including
Chief Financial Officer David Viniar about the bank's method of
valuing CDOs insured by AIG and questioned why Goldman's prices
were often much lower than those from other banks in 2007.  The
debate has centered on how Goldman used the values of securities
to demand collateral from AIG, which had sold Goldman credit
protection on $20 billion in mortgage debt pools or CDOs.
Goldman's collateral calls began in July 2007 and were later
followed by similar demands for other banks in 2008 as mortgage-
debt prices fell.  Ultimately unable to come up with enough cash
to meet all its collateral calls and other financial obligations,
AIG in September 2008 turned to the U.S. government for a bailout
that now totals as much as $182.3 billion in taxpayer support.

According to the Journal, current and former AIG executives
acknowledged at the recent FCIC hearing that AIG didn't have its
own system to come up with prices of mortgage securities until
December 2007.  The Journal recalls that after AIG was bailed out,
the Federal Reserve Bank of New York in late 2008 stepped in to
purchase $62 billion of the insured CDOs -- including $14 billion
of Goldman's deals -- to cancel the insurance written on them.  By
then, most of the securities were valued at less than 50 cents on
the dollar, according to an analysis done by an outside advisor to
the New York Fed.

                         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 SAFETY: Case Summary & 30 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: American Safety Razor Company, LLC
        aka American Safety Razor Company
        240 Cedar Knolls Road
        Cedar Knolls, NJ 07927

Bankruptcy Case No.: 10-12352

Chapter 11 Petition Date: July 28, 2010

About the Debtor: Headquartered in Cedar Knolls, New Jersey,
                  American Safety Razor Company is a designer,
                  manufacturer and marketer of brand name and
                  private-label consumer and industrial products.
                  The Company reported revenues of $335 million
                  for the 12 months ended April 3, 2010.

                  The Company filed for Chapter 11 to facilitate
                  the sale of its assets.  It said that first-lien
                  lenders have made an offer to buy substantially
                  all of the assets under 11 U.S.C. Sec. 363.

                  Lenders led by UBS AG, Stamford Branch, as DIP
                  administrative agent, are providing debtor-in-
                  possession financing.

Court: U.S. Bankruptcy Court
       District of Delaware (Delaware)

Judge: Mary F. Walrath

Debtor's
General
Bankruptcy &
Corporate
Counsel:          Mark J. Thompson, Esq.
                  Morris J. Massel, Esq.
                  Simpson Thacher & Bartlett LLP
                  425 Lexington Ave.
                  New York, NY 10017-3954
                  Tel: (212) 455-2000
                  Fax: (212) 455-2502
                  http://www.stblaw.com

Debtor's
Conflicts &
Co-Counsel:       Howard A. Cohen, Esq.
                  Drinker Biddle & Reath LLP
                  1100 North Market Street, Suite 1000
                  Wilmington, DE 19801
                  Tel: (302) 467-4213
                  Fax: (302) 467-4201
                  E-mail: howard.cohen@dbr.com

Debtor's
Investment
Banker:           Lazard Middle Market LLC

Debtor's
Claims &
Notice Agent:     Kurtzman Carson Consultants LLC

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

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

The petition was signed by J. Andrew Bolt, vice president,
secretary, and authorized officer.

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                                      Case No.
        ------                                      --------
Megas de Puerto Rico, Inc.                          10-12359
American Safety Razor Corporation                   10-12352
  Assets: $100,000,001 to $500,000,000
  Debts: $500,000,001 to $1 billion
Personna International de Puerto Rico, Inc.         10-12360
ASR Holdings, Inc.                                  10-12353
RSA Holdings Corp. of Delaware                      10-12361
Blade Acquisition Company                           10-12355
RSA Soap Company, Inc.                              10-12362
Industrias Manufactureras ASR de Puerto Rico, Inc.  10-12356
Valley Park Realty, Inc.                            10-12363
Megas Beauty Care, Inc.                             10-12357

Debtors' List of 30 Largest Unsecured Creditors:

        Entity                      Nature of Claim   Claim Amount
        ------                      ---------------   ------------
J.P. Morgan Chase Bank, As Trustee  Pension            $94,888,000
3 Metrotech Center 6th Floor
Brooklyn, NY 11245

UBS AG, Stamford Branch, as         Mezzanine Lender   $59,953,326
Administrative Agent
677 Washington Boulevard
Stamford, CT 06901

Total Petrochemicals, Inc           Trade               $1,780,834
15710 JFK Boulevard
Houston, TX 77267

PolyOne Corporation - GLS T.E.      Trade                 $825,089
85 W. Algonquin Road, Suite 600
Arlington Heights, IL 60005- 4421

Inter Pack Industries, Inc.         Trade                 $344,727
5301 W. Mohave
Phoenix, AZ 85043

M. Holland Company                  Trade                 $311,513
400 Skokie Boulevard, Suite 600
Northbrook, IL 60062

Hitachi Metals America Ltd          Trade                 $297,489
10700 Sikes Place, Suite 240
Charlotte, NC 28277

Transparent Container Co Inc        Trade                 $287,697
5744 McDermott Drive
Berkeley, IL 60163

Test-Rite International             Trade                 $269,628
6F, NO. 23, Hsin Hu 3rd Road
Nei Hu, 114
Taipei, Taiwan

Midwest Color                       Trade                 $259,185
50 Francis Street
Leominster, MA 01453

Menasha Packaging Co.               Trade                 $245,060

Qualiplast SA de CV                 Trade                 $227,768

Hugo Vogelsang GMBH & Co. KG        Trade                 $179,677

Sound Packaging, LLC                Trade                 $152,405

Horizon Die Company Inc.            Trade                 $120,026

Entec Polymers, LLC                 Trade                 $119,324

Global Strategic Alliance-HK        Trade                 $118,520

Adell Plastics Inc.                 Trade                 $101,916

Air Purification, Inc.              Trade                  $90,377

Williams Supply Inc.                Trade                  $87,730

Carded Graphics LLC                 Trade                  $74,380

Anthem Blue Cross and Blue Shield   Medical and            $72,749
                                    Dental Claims

Resirene S.A. de C.V.               Trade                  $72,339

Penn Erie                           Trade                  $71,660

Jacobson Warehouse Company          Trade                  $68,423

Cauthorne Paper Company, Inc        Trade                  $63,825

Virginia Electric & Power Co        Utility                $62,884

Polyone Corporation                 Trade                  $61,496

Ken-Mac metals, Inc.                Trade                  $59,477

Klann Inc.                          Trade                  $57,120


AMN HEALTHCARE: Moody's Reviews 'Ba2' Corporate Family Rating
-------------------------------------------------------------
Moody's Investors Service placed all ratings of AMN Healthcare,
Inc., including the Ba2 Corporate Family Rating, on review for
possible downgrade.  This action follows the company's
announcement on July 28, 2010, that it has entered into an
agreement to acquire the parent company of Nursefinders, Inc. (dba
Medfinders), a provider of managed services programs, travel and
local nurse and allied staffing, locum tenens, physician search
services, and home healthcare services.  The transaction will be
financed using a combination of debt, equity, and cash and is
expected to close in the third quarter of 2010.

From an operational standpoint, Moody's views the acquisition
positively and anticipates the combination of these two companies
will create a relatively stronger player with greater scale in the
healthcare staffing and managed services market.  Nonetheless, the
proposed transaction will likely increase pro forma financial
leverage and reduce available cash on hand, though the financing
terms have not yet been finalized.  The review for possible
downgrade will focus on the combined company's run rate revenue
and earnings, ultimate capital structure, expected liquidity
profile, and current industry trends within the healthcare
staffing market.

Moody's placed these ratings on review for possible downgrade:

* $40 million senior secured revolver due December 2012, Ba1 /
  LGD2 (24%)

* $110 million senior secured first lien term loan B due December
  2013, Ba1 / LGD2 (24%)

* Corporate Family Rating, Ba2

* Probability of Default Rating, Ba3

The previous rating action on AMN Healthcare occurred on
December 10, 2009, when the outlook was changed to negative from
stable and a Ba1 rating was assigned to the new credit facility.

Headquartered in San Diego, California, AMN Healthcare Services,
Inc., is a leading healthcare staffing company in the US.  The
company recruits physicians, nurses and allied healthcare
professionals and places them on assignments at acute care
hospitals, physician practice groups and other healthcare
settings.  For the twelve months ended June 30, 2010, the company
reported revenues of approximately $600 million.


APPTIS INC: Moody's Affirms 'Caa1' Corporate Family Rating
----------------------------------------------------------
Moody's Investors Service has affirmed the Caa1 corporate family
rating of Apptis (DE), Inc.  However, in Moody's view a limited
default began when Apptis' parent, Apptis Holdings, Inc.,
reportedly deferred subordinated note interest due July 5, 2010,
to January 5, 2011.  Because of the limited default, an "LD"
designation has been assigned the Caa1 probability of default
rating; the designation will remain in place until the limited
default concludes.  The rating outlook remains stable.

Despite Moody's view that the company's liquidity profile has
weakened, the affirmation of the Caa1 corporate family rating
reflects Moody's expectation of near term performance.  Apptis'
services business segment -- which has historically earned good
margins in the U.S. federal network/software engineering and
support space -- should continue partially offsetting anticipated
drag from the product business segment.

The stable outlook anticipates some improvement in liquidity,
which could result from a possible re-capitalization.  Given the
company's weak liquidity, ratings could be negatively pressured
without measurable progress toward the re-capitalization in the
coming months.  It is Moody's understanding that in January 2011,
the company cannot effectively pay the $20 million of cash
interest due on the subordinated notes (not rated by Moody's)
because of restrictive language in the amended credit agreement.

The ratings are:

* Corporate family rating Caa1

* Probability of default rating Caa1/LD

* $25 million senior secured revolver due December 2011, B1 LGD 2,
  to 23% 24%

* $80 million senior secured term loan B due December 2012 B1 LGD
  2, to 23% 24%

Moody's last rating action on Apptis took place November 18, 2009,
when the corporate family rating was lowered to Caa1 from B3.

Apptis (DE), Inc., headquartered in Chantilly, Virginia, provides
information technology services and solutions primarily to federal
government agencies.  The company's core offerings include
software development and engineering, network infrastructure
deployment and support services, and product fulfillment.  Gross
revenues for fiscal year 2009 were approximately $860 million.


ARROW AIR: Proposes August 25 Auction for Business
--------------------------------------------------
Bill Rochelle at Bloomberg News reports that Arrow Air Inc. is
seeking approval from the Bankruptcy Court to sell the business at
auction on Aug. 25.  Arrow wants bids submitted by Aug. 23.  The
hearing for approval of the sale would be soon after the auction.
Arrow is selling all the assets including the operating
certificate allowing the company to be an airline.  Bids won't be
accepted for the operating certificate alone.  Arrow says it would
prefer a so-called stock sale where the buyer acquires the stock
of the airline.

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

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

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


ARS ANALYTICAL: Court Converts Case to Chapter 7
------------------------------------------------
Judge James S. Starzynski converted the Chapter 11 case of ARS
Analytical LLC (Bankr. D. N.M. Case No. 10-10373), to one under
Chapter 7 of the Bankruptcy Code.

The Court held that the Debtor cannot rehabilitate, and its
bankruptcy exit-plan is not feasible.  It also violates the rule
that administrative claims must be paid in full upon confirmation
and the absolute priority rule.

Assaigai Analytical Laboratories, Inc., sought dismissal or
conversion of the case.

A copy of the decision dated July 21 is available at:

          http://researcharchives.com/t/s?678a

The Debtor is represented by:

     Bonnie Gandarilla, Esq.
     MOORE, BERKSON & GANDARILLA, P.C.
     PO Box 216,
     Albuquerque, NM, 87103-0216
     Telephone: (505) 242-1218

ARSI is represented in the case by:

     Paul M. Kienzle, III, Esq.
     SCOTT & KIENZLE, P.A.
     1011 Las Lomas Road NE, P.O. Box 587
     Albuquerque, New Mexico  87102
     Telephone: 505-246-8600
     Facsimile: 505-246-8682

Assaigai is represented in the case by:

     David T. Thuma, Esq.
     JACOBVITZ, THUMA & WALKER, P.C.
     500 Marquette N.W., Suite 650
     Albuquerque, New Mexico  87102
     Telephone: 505-766-9272
     Telecopier: 505-766-9287

          - and -

     Marcus E. Garcia, Esq.
     THE LAW OFFICE OF MARCUS GARCIA
     First Galleria Plaza, 20 First Plaza Center, N.W., Suite 717
     Albuquerque, New Mexico  87102-6611
     Telephone: 505-345-0806
     Facsimile: 505-923-1961

American Radiation Services, Inc., formed the Debtor on March 27,
2009 as a New Mexico domestic limited liability company.  ARSI
anticipated the Debtor obtaining contracts with Los Alamos
National Laboratories.


ASARCO LLC: Bankr. Court OKs Cohen Weiss' Fees; Debtor Appeals
--------------------------------------------------------------
Judge Schmidt separately awarded three professionals in Asarco
LLC's cases their final fees and expenses in these amounts:

                                              Allowed Fees
Professional             Fee Period           and Expenses
------------             ----------           ------------
Cohen, Weiss and          08/11/05 to             $805,000
Simon LLP                 11/14/09

Potok and Co.             07/01/06 to             $695,000
                           11/15/09

Sitrick and Company       10/11/07 to             $107,682
Inc.                      12/09/09

Cohen Weiss served as counsel for the United Steel, Paper and
Forestry, Rubber, Manufacturing, Energy, Allied Industrial and
Service Workers International Union AFL-CIO.  Potok served as the
Union's investment banker and financial advisors.

Sitrick served as the Debtors' strategic communications
consultant.

Meanwhile, Reorganized ASARCO LLC, Asarco Incorporated and
Americas Mining Corporation notify Judge Schmidt that they will
take an appeal to the United States District Court for the
Southern District of Texas from his order granting the final fee
applications of Cohen, Weiss and Simon LLP, and Potok and Co.,
Inc.

ASARCO wants the District Court to determine whether:

  (1) the Final Fee Orders are proper under Sections 105 and
      363(b) of the Bankruptcy Code; and

  (2) the Final Fee Orders violate Section 302 of the Labor
      Management Relations Act.

Judge Schmidt has awarded Cohen Weiss and Potok their final fees
and expenses in these amounts:

                           Fee                Allowed Fees
Professional               Period             and Expenses
------------             ----------           ------------
Cohen, Weiss and          08/11/05 to             $805,000
Simon LLP                 11/14/09

Potok and Co.             07/01/06 to             $695,000
                           11/15/09

Cohen Weiss served as counsel for the United Steel, Paper and
Forestry, Rubber, Manufacturing, Energy, Allied Industrial and
Service Workers International Union AFL-CIO.  Potok served as the
Union's investment banker and financial advisors.

                          About Asarco LLC

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

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

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

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


ASARCO LLC: Plan Admin. Wants to Close 22 Affiliate Cases
---------------------------------------------------------
Mark A. Roberts, plan administrator of Reorganized ASARCO LLC and
its debtor affiliates, asks the U.S. Bankruptcy Court for the
Southern District of Texas to enter an order and final decree:

  (a) closing the bankruptcy cases of 22 of ASARCO LLC's debtor
      affiliates;

  (b) designating ASARCO LLC's bankruptcy case, assigned as Case
      No. 05-21207, as the surviving case of the Reorganized
      Debtors; and

  (c) waiving the requirement that the Reorganized Debtors in
      the 22 administered cases submit any further
      post-confirmation reports in those cases, and directing
      that all further reporting concerning the administration
      of the assets and liabilities in the Administered Cases
      will occur on a consolidated basis in the Surviving Case.

The 22 Administered Cases to be closed are:

        Company Name                             Case No.
        ------------                             --------
        Lac d'Amiante Du Quebec Ltee             05-20521
        CAPCO Pipe Company, Inc.                 05-20522
        Cement Asbestos Products Company         05-20523
        Lake Asbestos of Quebec, Ltd.            05-20524
        LAQ Canada, Ltd.                         05-20525
        ASARCO Consulting, Inc.                  05-21346
        ASARCO Master, Inc.                      05-21883
        Bridgeview Management  Company, Inc.     05-21884
        ASARCO Oil and Gas Company, Inc.         05-21886
        ALC, Inc.                                05-21888
        Covington Land Company                   05-21892
        AR Mexican Explorations, Inc.            05-21893
        American Smelting and Refining Company   05-21894
        Southern Peru Holdings, LLC              06-20774
        AR Sacaton, LLC                          06-20775
        ASARCO Exploration Company, Inc.         06-20776
        Wyoming Mining and Milling Company       08-20197
        Alta Mining and Development Company      08-20198
        Tulipan Company, Inc.                    08-20199
        Blackhawk Mining and Dev. Co., Ltd.      08-20200
        Peru Mining Exploration and Dev. Co.     08-20201
        Green Hill Cleveland Mining Company      08-20202

After a widely publicized legal battle between Grupo
Mexico/Parent and Sterlite/ASARCO LLC, District Court Judge
Andrew S. Hanen confirmed the Parent's Plan on November 13, 2009,
which paved the way for ASARCO LLC's estranged Parent to take
control of the Debtors' business operations again.

The Plan became effective on December 9, 2009.  Mr. Roberts was
subsequently appointed as plan administrator.

The Plan Administrator continues to make distributions on account
of Allowed Claims as they become allowed.  He has also filed two
post-confirmation quarterly summary reports, which reflect the
substantive consolidation of certain of the Reorganized Debtors'
assets and liabilities pursuant to the Plan.

Although the assets and liabilities of the Reorganized Debtors
were merged on the Plan Effective Date, the individual debtor-
entities continued to exist as Reorganized Debtors and as
separate legal and corporate structures after the Plan Effective
Date.  Their separate bankruptcy cases also remained open.

Section 350(a) of the Bankruptcy Code provides that a bankruptcy
court will close a bankruptcy case after the estate has been
fully administered.  Rule 3022 of the Federal Rules of Bankruptcy
Procedure further provides that, "[a]fter an estate is fully
administered in a chapter 11 reorganization case, the court, on
its own motion or on motion of a party in interest, shall enter a
final decree closing the case."

Representing the Plan Administrator, Dion W. Hayes, Esq., at
McGuirewoods LLP, in Richmond, Virginia, avers that the estates
of the Reorganized Debtors in the Administered Cases have been
fully administered, and no purpose would be served in keeping
those cases open any longer.  He explains that all of the assets
and liabilities in those estates have been merged into the single
estate of ASARCO LLC, and can and will be fully administered and
accounted for in the Surviving Case.

The Plan effected the merger of Reorganized Debtors' property for
purposes of administration and distribution as part of a single
estate, and the property to be transferred under the Plan has
been transferred, Mr. Hayes elaborates.

He adds that all non-released causes of action of the Reorganized
Debtors, including preference and other avoidance action claims,
have merged and will be administered in the Surviving Case.
Reorganized ASARCO, he cites, has also assumed the business in
accordance with the provisions of the Plan and emerged from
bankruptcy intact.

"Closing the Administered Cases will relieve the Court, the U.S.
Trustee, the Plan Administrator and Reorganized ASARCO from the
burden of continuing to monitor and separately administer those
cases," Mr. Hayes says.  "The proposed closing will also
alleviate the burden of having to pay the relevant quarterly fees
in cases that serve no purpose."

On the contrary, no beneficial purpose would be served by further
reporting in the Administered Cases because, as a result of the
substantive consolidation, no further activity will occur in
those cases, Mr. Hayes argues.  Hence, the requirement of further
post-confirmation reporting by the Plan Administrator and the
Reorganized Debtors in the Administered Cases should be waived,
and all further reporting concerning the administration of the
assets and liabilities of the Reorganized Debtors should occur on
a consolidated basis in the Surviving Case, he asserts.

                          About Asarco LLC

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

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

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

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


ASARCO LLC: To Be Consolidated with SCC in $6 Billion Deal
----------------------------------------------------------
Grupo Mexico, S.A.B. De C.V., revealed its plan of consolidating
two of its mining units, ASARCO LLC and Southern Copper
Corporation, into a single business.  The consolidated entity
will be wholly owned by Americas Mining Corporation, Grupo
Mexico's subsidiary.

After engaging in a much-publicized legal battle with Sterlite
(USA) Inc. and Sterlite Industries (India) Ltd., Grupo Mexico
gained back control of ASARCO LLC after both the U.S. District
Court and Bankruptcy Court for the Southern District of Texas
agreed that the Grupo Mexico/Parent's bankruptcy plan was the
best plan for the bankrupt company.  The Plan was declared
effective on December 9, 2009.

In a statement released July 23, 2010, Grupo Mexico related that
AMC submitted to the Board of Directors of SCC a non-binding
indication of interest for an all-stock business combination of
SCC and AMC, in which all public stockholders of SCC would
receive common shares of AMC in exchange for their SCC shares.
Through their ownership of AMC shares as a result of the
transaction, SCC's public stockholders would have an ownership
interest in SCC and in ASARCO LLC, a wholly owned subsidiary of
AMC.  ASARCO primarily mines and processes copper in the United
States of America.  AMC currently owns approximately 80% of SCC's
issued and outstanding common shares and would own 100% of SCC
after the transaction.

According to Bloomberg News, Grupo Mexico's 80% stake in SCC was
worth approximately $21.8 billion as of July 22, 2010.

The transaction would be accomplished by merging a newly created,
wholly owned subsidiary of AMC with and into SCC, with SCC being
the surviving entity and becoming a wholly owned subsidiary of
AMC.  In the transaction, all of the public stockholders of SCC
would receive 1.237 shares of AMC common stock for each share of
SCC common stock held by the stockholders.

The exchange ratio is based on the simple average of SCC closing
share prices for the last 30 trading days up to and including
July 21, 2010, and assumes an implied equity value of ASARCO of
approximately $5.94 billion, and also takes into account, among
other things, the remaining approximately $10.983 billion Mexican
pesos currently outstanding under the credit facility entered
into by AMC to fund ASARCO's reorganization plan in December
2009.

As a result of the transaction, the public stockholders would own
collectively approximately 16.6% of the AMC common stock, as
compared to currently owning approximately 20% of the outstanding
SCC common stock.  In connection with the transaction, AMC would
become a NYSE-listed, Lima stock exchange-listed U.S. SEC
registrant.

The transaction would provide SCC's public stockholders the
opportunity to participate in the future growth of SCC and
ASARCO, which would be enhanced by the synergies and operating
efficiencies that can be realized between the two companies under
common ownership and management.

A spokesperson for Grupo Mexico stated: "We believe a combination
of Southern Copper and Asarco under common ownership would
provide important synergies, including cost reductions in
operations and transportation and overhead, and capital
expenditure savings which would benefit all stockholders of the
combined entity."

AMC's proposal is conditioned on, among other things:

  -- the negotiation and execution of a mutually satisfactory
     definitive merger agreement and related agreements and the
     satisfaction of the conditions set forth;

  -- the recommendation of the transaction, related terms
     and any related agreement or agreements by a committee of
     independent directors of SCC to the SCC Board of Directors;

  -- approval of the transaction and definitive merger
     documentation by the Boards of Directors of SCC and Grupo
     Mexico and by the Board of Directors and sole stockholder
     of AMC;

  -- AMC's satisfaction, in its sole discretion, with the
     results of its due diligence review of SCC;

  -- receipt of any governmental and of existing lender and
     other third-party consents and approvals; and

  -- the absence of a material adverse change in the business,
     results of operations, financial condition, assets,
     liabilities and prospects of SCC.

Grupo Mexico said it understands that SCC's Board will establish
a special committee of independent directors to evaluate AMC's
proposal on behalf of the public stockholders.

Morgan Stanley is acting as financial advisor, and Skadden, Arps,
Slate, Meagher & Flom LLP is acting as legal counsel to Grupo
Mexico and AMC.

In connection with the proposed transaction and its investment in
SCC, Grupo Mexico and AMC filed an amended beneficial ownership
report on Schedule 13d with the Securities and Exchange
Commission at http://researcharchives.com/t/s?6724

AMC and SCC will also file an information statement/prospectus
with the SEC.

                          About Asarco LLC

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

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

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

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


AVIS BUDGET: Fitch Puts 'B+' Issuer Rating on Evolving Watch
------------------------------------------------------------
Fitch Ratings has placed the ratings of Avis Budget Group on
Rating Watch Evolving following ABG's counter offer to acquire
Dollar Thrifty Automotive Group, Inc., in a $1.3 billion cash-and-
stock transaction.  Approximately $2.1 billion of ABG debt is
affected by this action.

The Rating Watch Evolving placement reflects Fitch's view that the
proposed transaction has a range of potential outcomes.  At the
proposed price and terms, Fitch views the acquisition positively
and believes that the acquisition will complement ABG's value-
oriented Budget brand and strengthen its market position in the
U.S. rental car industry.  This could result in positive rating
momentum if the merger closes under the proposed terms and ABG is
able to demonstrate relatively soon after the merger that
integration is proceeding well and that pro forma leverage targets
are achievable.  ABG's leverage, as measured by corporate debt to
corporate EBITDA, was 7.5 times, calculated on trailing 12 months
on 1Q'10.

Downward rating potential is created by the possibility of a
bidding war, if ABG were to substantially increase the debt needed
to close the transaction.  Fitch notes that Hertz Corporation
(Hertz) has the right to increase its existing bid to match or
surpass ABG's counter offer should DTG's board accept the proposed
terms.

Fitch also recognizes that the acquisition requires regulatory
approvals and adds near-term integration and execution risks.

If ABG is not successful in acquiring DTG, Fitch believes that an
affirmation of current ratings is the most likely outcome.
Fitch's assignment of a Rating Outlook at that point will consider
trends in the rental car industry as well as an assessment of
ABG's funding flexibility, liquidity, and operating metrics.

Regardless of which company ends up acquiring DTG, Fitch believes
the transaction will remove a sizeable player in the rental car
industry and could benefit industry dynamics.

Fitch has placed these ratings on Rating Watch Evolving:

Avis Budget Car Rental, LLC

  -- Long-term Issuer Default Rating 'B+';
  -- Senior secured debt 'BB-/RR3';
  -- Senior unsecured debt 'B-/RR6'.

Avis Budget Group, Inc.

  -- Long-term IDR 'B+'.

Based in Parsippany, NJ, ABG is one of the largest general use
rental car companies in the world.  ABG consists of two of the
most recognized brands in the rental car industry: Avis and
Budget.  Avis is a leading supplier to the premium travel segment
and Budget is considered a top brand in the value segment.


BANKRUPTCY MANAGEMENT: Reaches Deal for Debt-for-Equity Exchange
----------------------------------------------------------------
Bankruptcy Management Solutions, Inc., BMS Holdings, Inc., and
their affiliates have reached an agreement on the material terms
of a consensual debt-for-equity exchange with BMS' lenders
representing a majority of each of the Company's outstanding first
lien and second lien bank debt and over 90% of the Company's
Floating Rate Senior PIK Notes due 2012.

The transaction contemplates a partial paydown of BMS's first-lien
indebtedness and a series of debt-for-equity exchanges that will
reduce BMS's outstanding indebtedness from approximately
$536 million to $233 million, increase the Company's liquidity by
providing for $15 million of new capital and by reducing the
Company's annual interest expense by approximately $16 million,
and position BMS for future financial stability and operating
growth.

The debt-for-equity exchange is in addition to the $366 million
paydown of BMS' investment line completed in March 2010, marking a
cumulative 75% reduction in the total debt outstanding at the
beginning of this year.

"We are pleased to have reached this agreement in principle with
our lenders and noteholders," said Steve Coffey, Chief Executive
Officer of BMS.  "In conjunction with the earlier repayment of our
investment line, this contemplated transaction will leave the
Company well capitalized, allowing BMS to remain a dominant force
and market leader in Chapter 7 bankruptcy case administration
services."

Based in Irvine, Calif., BMS has consistently been the Industry's
leading provider of bankruptcy case administration software and
services since 1987.  The Company's innovative end-to-end
technology platform software and disbursement solutions support
the administrative and legislative requirements of the majority of
Chapter 7 Panel trustees, as well as a variety of other bankruptcy
fiduciaries.  BMS products are instrumental in automating and
streamlining bankruptcy administration, making trustees and
bankruptcy fiduciaries more productive and profitable.


BANKRUPTCY MANAGEMENT: Moody's Withdraws Caa2 Corp. Family Rating
-----------------------------------------------------------------
Moody's Investors Service withdrew all ratings for Bankruptcy
Management Solutions, Inc.  The ratings have been withdrawn
because Moody's believes it lacks adequate information to maintain
the ratings.

These ratings have been withdrawn:

At Bankruptcy Management Solutions, Inc:

* Corporate Family Rating -- Caa2

* Probability of Default Rating -- Caa2

* $15 million Senior Secured Revolving Credit Facility due 2011 --
  B3, LGD2, 29%

* $220 million Senior Secured First Lien due 2012 -- B3, LGD2, 29%

* $125 million Senior Secured Second Lien due 2013 -- B3, LGD2,
  29%

* $125 million Senior Secured Second Lien due 2013 -- Caa3, LGD5,
  73%

At BMS Holdings, Inc.:

* $150 million Senior unsecured PIK notes due 2012 -- Ca, LGD6,
  91%

* Outlook -- Withdrawn, negative ratings outlook

The most recent rating action for BMS occurred on November 16,
2009, when Moody's downgraded the Corporate Family Rating to Caa2
from B3 and changed the ratings outlook to negative from stable.

Irvine, CA-based Bankruptcy Management Solutions, Inc., is a
provider of bankruptcy case management solutions, mainly to
Chapter 7 trustees.


BIO-KEY INT'L: Posts $234,800 Net Income for June 30 Quarter
------------------------------------------------------------
BIO-key International Inc. released its financial results for the
second quarter and six-month period ended June 30, 2010.

Total revenue for the three months ended June 30, 2010, was
$1,433,051 compared to $280,685 in the same period last year, an
increase of 411%.  Driving this increase were higher service and
licensing sales to both new and existing customers.

Gross profit and gross profit margin for the second quarter of
2010 were $1,329,210 and 92.7% respectively, as compared to
$212,254 and 75.6% respectively, for the three months ended
June 30, 2009.  The increase in gross profit margin is directly
attributable to higher licensing fees as a percentage of net sales
for the comparable period.

Operating expenses for the three months ended June 30, 2010 were
$1,172,577, an increase of 9.6% as compared to operating expenses
of $1,070,263 for the same period 2009.  This increase was due to
higher selling, general and administrative expenses of 6% related
to higher commission expenses and referral fees as a result of
higher revenues, and a 23% increase in research, development and
engineering costs.

Operating income for the second quarter was $156,633 compared to
an operating loss of $858,009 for the same period in 2009.  Total
net income including derivative and warrant fair value adjustments
and income from discontinued operations for the second quarter of
2010 was $234,766 compared to net income of $139,770 for the
second quarter of 2009.  The 2009 second quarter included
$1,030,177 of income related to discontinued operations.

"We are very pleased with our second quarter financial results and
the progress we continue to make in deploying and integrating our
software solutions with global, industry leaders," said Michael
DePasquale, BIO-key's Chief Executive Officer.  "With the partner
alliances we have today, we believe we are poised for significant
top-line growth and profitability, this year.  The demand for
improved authentication and identification security solutions, and
fingerprint biometrics in particular, continues to intensify
across many vertical segments of our business, including health
care, retail and financial services.  We believe our technology
and partners position us well to participate in the strengthening
industry fundamentals for both the near and long-term. "

                      Six Month Comparisons

Total revenue for the six months ended June 30, 2010 was
$2,409,226 compared to $818,879 for the same six-month period last
year, an increase of 194%.  Driving this increase were higher
licensing sales to both new and existing customers, partially
offset by lower service fees.

Gross profit and gross profit margin for the six months ended June
30, 2010 were $2,195,285 and 91.1% respectively, as compared to
$613,368 and 74.9% respectively, for the six months ended June 30,
2009.  The increase in gross profit margin is directly
attributable to higher licensing fees as a percentage of net sales
for the comparable period.

Operating expenses for the six months ended June 30, 2010 were
$2,157,386, a decrease of 1.9% as compared to operating expenses
of $2,198,991 for the same period in 2009.  This decrease was due
to a 7.4% decline in selling, general and administrative expenses,
offset by an 18.2% increase in research, development and
engineering expenses.  The decline in SG&A was primarily related
to lower legal and professional service fees, and charges for non-
cash compensation, offset by higher commission and referral fee
expenses.

Operating income was $37,899 compared to an operating loss of for
the periods ended June 30, 2010 and June 30, 2009, respectively.
Accounting for income from derivative and warrant fair value
adjustments and income from discontinued operations, BIO-key's net
income for the six month period ended June 30, 2010, was
$1,235,324 compared to net income of $361,819 for the same period
in 2009.  The 2009 first half income included approximately
$2.0 million related to discontinued operations.

                  Liquidity and Capital Resources

Consolidated cash, cash equivalents and accounts receivables
totaled over $2.4 million on June 30, 2010, compared to
approximately $1.7 million as of December 31, 2009.

Highlights for the second quarter include:

   * Contract award in excess of $560,000 from one of the nation's
     foremost organizations specializing in transfusion medicine
     and related services, for the deployment of our WEB-key
     software for donor identification.

   * Contract from an existing partner to deploy our technology
     for a new overseas customer.

   * Purchase orders totaling over $175,000 for a new deployment
     of our biometric software at Genesis HealthCare Systems in
     Ohio.

   * The first deployment with our newest partner, Epic.  Their
     solution now includes our biometric software.  Epic is a
     supplier of integrated software for mid-size to large medical
     groups and integrated healthcare organizations.

   * partner Sentillion has completed the first deployment of
     their Single Sign On Solution with our biometric
     identification software.

The data presented relative to the same periods in 2009 includes
only the results of the Company's fingerprint-based Biometrics
Division.  The Company completed the sale of its Law Enforcement
Division on December 8, 2009.

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?676c

                           About BIO-key

Wall, N.J.-based BIO-key International, Inc. (OTC BB: BKYI)
-- http://www.bio-key.com/-- develops and markets advanced
fingerprint identification biometric technology and software
solutions.

CCR LLP, in Westborough, Mass., has expressed substantial doubt
about the Company's ability to continue as a going concern after
auditing the Company's results for the year ended Dec. 31, 2009.
The independent auditors noted of the Company's substantial net
losses in recent years and accumulated deficit.


BROOKFIELD ASSET MANAGEMENT: Emerges from Chapter 11
----------------------------------------------------
Brookfield Asset Management Inc. and Fairfield Residential Company
LLC disclosed the completion of Fairfield's reorganization and
emergence from Chapter 11 protection.  In addition, Brookfield,
Fairfield management and long standing partner, California State
Teachers' Retirement System, have invested approximately
$29 million to recapitalize the company.  In return for its
investment in Fairfield's recapitalization, Brookfield acquired a
65% equity stake in the company and Brookfield has committed to
provide up to an additional $150 million to fund future investment
opportunities.

Fairfield Residential Company LLC is a leading multifamily service
provider in the United States with decades of experience in the
industry.  Following its recapitalization, Fairfield is
strategically focused on construction, property management and
asset management of multifamily residential homes with the
opportunity for growth through portfolio acquisitions, joint
ventures and development.  Fairfield has 55,000 multifamily units
under management, primarily in coastal U.S. markets.

"Fairfield is a best-in-class company with a strong management
team. We are excited by the opportunity to work together, building
on our respective experience in real estate services and
residential and property management", commented David Arthur,
Managing Partner, Brookfield.  Brookfield owns a portfolio of
6,200 multifamily residential units through two of its private
funds.  In addition, Brookfield owns and manages real estate
services businesses that include GMAC relocations (renamed
Brookfield Global Relocations) and Real Living brokerage.

"Our recapitalization and partnership with Brookfield and CalSTRS
has put us on solid footing for building our business and
positioning us to take advantage of exciting growth
opportunities", added Christopher Hashioka, Fairfield's Chief
Executive Officer.

Brookfield Asset Management Inc., focused on property, renewable
power and infrastructure assets, has over $100 billion of assets
under management and is co-listed on the New York and Toronto
Stock Exchanges under the symbol BAM and on NYSE Euronext under
the symbol BAMA.

                     About Fairfield Residential

San Diego, California-based Fairfield Residential LLC is a fully
integrated multifamily housing company that through its various
subsidiaries provides a diverse mix of services to a wide range of
investors, joint venture partners and clients.  FFR either
directly or indirectly acts as a general partner or managing
member of, and owns varying stakes in, a number of project level
operating companies.

The Company and its affiliates -- FF Development, Inc., et al. --
filed for Chapter 11 bankruptcy protection on December 13, 2009
(Bankr. D. Delaware Case No. 09-14378).  Daniel J. DeFranceschi,
Esq.; Lee E. Kaufman, Esq.; Paul Noble Heath, Esq.; and Travis A.
McRoberts, Esq., at Richards, Layton & Finger, P.A., assist the
Debtors in their restructuring efforts.  The Official Committee of
Unsecured Creditors is represented by Brett H. Miller, Esq.,
Stefan W. Engelhardt, Esq., and Melissa A. Hager, Esq., at
Morrison & Foerster LLP; and William E. Chipman Jr., Esq., Kerri
K. Mumford, Esq., and Kimberly A. Brown, Esq., at Landis Rath &
Cobb LLP.  Fairfield Residential listed $100,000,001 to
$500,000,000 in assets and more than $1,000,000,000 in
liabilities.  Dow Jones says Fairfield listed assets worth
$958 million and liabilities of nearly $835 million.


CALIFORNIA COASTAL: Raising $15 Million of Additional Capital
-------------------------------------------------------------
In a regulatory filing Wednesday, California Coastal Communities,
Inc., disclosed that it will file an amendment to its Chapter 11
joint plan of reorganization which provides for, among other
things, the Company to raise $15 million of additional capital in
the form of (i) indebtedness that would be subordinated to the
$184 million of exit financing; (ii) equity; or (iii) a
combination of subordinated debt and equity.  This is to enhance
its liquidity after emerging from its current Chapter 11
bankruptcy proceedings and to satisfy a closing condition mutually
agreed to by the Company and Luxor Capital Group, LP, during the
course of negotiating definitive documentation of the previously
announced $184 million of exit financing.

There can be no assurance that the additional capital will be
successfully raised or that the amended plan will be consummated.

The Company's financial advisor, Imperial Capital, LLC, is
assisting the Company in evaluating capital markets alternatives.

As reported in the TCR on July 30, 2010, California Coastal
Communities Inc. has won a third extension of its exclusivity
period and approval of the information in its disclosure
statement, moving it closer to confirmation of its bankruptcy
plan.

California Coastal earlier reached a settlement with its
prepetition secured lenders, waiving more than $6 million in
default interest claims, and providing for payment to secured
lenders in cash.  The Plan pays unsecured creditors in full,
without interest, over two years.

                    About California Coastal

Irvine, Calif.-based California Coastal Communities, Inc.
-- http://www.californiacoastalcommunities.com/-- is a
residential land development and homebuilding company with
properties owned or controlled primarily in Orange County,
California, and also in Lancaster in Los Angeles county.  The
Company's primary asset is a 356-home luxury coastal community
known as Brightwater in Huntington Beach, California.

California Coastal Communities, Inc. and certain of its direct and
indirect wholly-owned subsidiaries filed for Chapter 11 bankruptcy
protection on October 27, 2009 (Bankr. C.D. Calif. Case No. 09-
21712).  Joshua M. Mester, Esq., who has an office in Los Angeles,
California, assists the Debtors in their restructuring efforts.
In their petition, the Debtors listed between $100 million and
$500 million in assets and between $100 million and $500 million
of debts.

On March 26, 2010, the Company filed a proposed disclosure
statement and proposed joint plan of reorganization with the
Bankruptcy Court, neither of which has been approved.  The
proposed joint plan provides for the extension of the Revolving
Loan and the Term Loan to enable the Company to complete
construction and sale of the homes at its Brightwater project.  A
majority of the Company's lenders are opposed to the plan as
filed.

At March 31, 2010, the Company's balance sheet showed
$249.0 million in assets, $218.0 million of liabilities, and
$31.0 million of stockholders' equity.


CBMK INVESTMENTS: Case Summary & 2 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: CBMK Investments, LLC
        3709 N. Lockwood Ridge Road
        Sarasota, FL 34234

Bankruptcy Case No.: 10-18206

Chapter 11 Petition Date: July 29, 2010

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

Debtor's Counsel: Benjamin G. Martin, Esq.
                  Law Offices of Benjamin Martin
                  1620 Main Street, Suite 1
                  Sarasota, FL 34236
                  Tel: (941) 951-6166
                  Fax: (941) 951-2076
                  E-mail: skipmartin@verizon.net

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

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

A copy of the Company's list of 2 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/flmb10-18206.pdf

The petition was signed by Csaba Bokros, managing member.


CCS CORP: S&P Changes Outlook to Stable, Affirms 'B' Ratings
------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its outlook on
Calgary, Alta.-based CCS Corp. to stable from negative.  At the
same time, Standard & Poor's affirmed its 'B' long-term corporate
credit rating, its 'B' ratings on the company's senior secured
term loan, revolving credit facilities and delayed draw term loan,
and its 'CCC+' rating on the senior unsecured and senior
subordinated debt ratings, following a review of the company's
business risk and financial risk profiles.

The '3' recovery ratings on the senior secured term loan, delayed
draw term loan,  and revolving credit facilities are unchanged,
and indicate S&P's expectation of meaningful (50%-70%) recovery in
the event of default.  The recovery rating of '6' (indicating
S&P's expectation of negligible [0%-10%] recovery) on the senior
unsecured and senior subordinated notes is also unchanged.

"S&P believes the 2009 business environment represented a trough
for CCS' revenues and cash flows," said Standard & Poor's credit
analyst Michelle Dathorne.  The company maintained stable margins
in its midstream division, which accounts for the majority of its
operating cash flows; and leveraged effective cost management to
temper margin erosion in its oilfield services segment, which
ensured the cash flow generation to meet its financing obligations
and required capital spending.  "S&P continue to believe the
company's balance sheet is overleveraged, given its business mix
and market position; however, forecast liquidity should meet all
funding requirements," Ms. Dathorne added.

The ratings on CCS reflect S&P's view of the company's aggressive
debt leverage, participation in the competitive and cyclical
oilfield services market, and reliance on its customers'
outsourcing requirements.  S&P believes the company's market
position in western Canada, stability and predictability in its
operating margins, and good diversification throughout its
businesses somewhat offset these weaknesses.

CCS is an integrated specialized oil and gas waste processing,
environmental remediation solutions, and well servicing provider.
It operates in five business divisions: Midstream Canada, which
owns and operates treatment, recovery, and disposal facilities,
cavern facilities; and a network of engineered industrial
landfills in Canada; Midstream U.S., which provides services
relating to disposal of industrial water, fluid handling, frac
tank rentals and frac sand production and distribution; HAZCO
Industrial Services., the company's environmental services
division, provides site remediation and decommissioning services,
and operates bioremediation facilities and hazardous waste
transfer stations; Concord Well Servicing, which provides well
completion and work-over services; and CCS Energy Marketing, which
markets oil for customers in western Canada, including recovered
oil volumes from the midstream services facilities.  CCS operates
primarily in western Canada, and has a presence in eastern Canada,
east Texas, and the U.S. Gulf Coast.

The stable outlook reflects Standard & Poor's expectations that
CCS' operating performance and effective cost management will not
change during S&P's forecast period.  Despite the strengths
inherent in the company's market position in its principal
operating segments, S&P believes consolidated leverage is high
relative to the company's overall business risk profile.  S&P also
believes the recent improvement in industry conditions should
continue in the near term, lending some stability to profitability
and cash flow protection measures.  S&P could lower the ratings if
operating performance deteriorates from 2009 levels, which S&P
views as the trough for the company, or if debt-to-EBITDA were to
increase above current levels, which S&P views as the threshold
for the rating.  Although S&P currently assess CCS' liquidity to
be adequate, any deterioration in the company's liquidity position
could also compromise the rating.  A positive rating action would
be contingent on a material improvement in cash flow protection
metrics, such that debt-to-EBITDA falls to or below 5x.  CCS' cash
flow metrics could improve through EBITDA growth or debt
reduction.  Based on S&P's expectations regarding operating cash
flows and spending levels, S&P does not expect this to occur
before 2012.


CHARLES RIVER: Wuxi Deal Termination Won't Move Moody's Ba2 Rating
------------------------------------------------------------------
Moody's commented that Charles River Laboratories' Ba2 Corporate
Family Rating and stable outlook is not affected by the
announcement that it has terminated its $1.6 billion cash and
stock acquisition of WuXi due to shareholder opposition.

The last rating action was June 4, 2010 when Moody's downgraded
the Corporate Family Rating to Ba2 from Ba1.

Charles River, headquartered in Wilmington, MA, is a contract
research organization that provides research tools and services
for drug discovery and development.  The company's revenues are
roughly split between the Research Models and Services business,
which involves the commercial production and sale of research
models; and the Preclinical Services business, which involves the
development and safety testing of drug candidates.  The company
reported revenues of $1.2 billion for the twelve months ended
March 27, 2010.


CIRCUIT CITY: Reaches Deal with Committee on New Plan
-----------------------------------------------------
Bill Rochelle at Bloomberg News reports that Circuit City Stores
Inc. and its Official Committee of Unsecured Creditors resolved
their impasse through mediation and agreed on revisions in the
liquidating Chapter 11 plan originally filed in August 2009.  The
parties relate that the changes won't require a new vote on the
Plan as the changes don't adversely affect any creditors.
Consequently, they don't see need for a new vote on the Plan.  The
changes in the Plan deal with governance of the liquidating trust,
reserves for claims under dispute, and modifications to minimized
taxes in Canada.  Affiliates InterTAN Inc. and Ventoux
International Inc. will be treated separately under Plan.  The
Company and the Committee expect the new Plan will be filed by
Aug. 9.

                       About Circuit City

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

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

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

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

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

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


COLETO CREEK: S&P Affirms 'B+' Rating on $735 Mil. Senior Loan
--------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B+' rating on
Coleto Creek Power L.P.'s $735 million senior secured first-lien
term loan due 2013, $170 million synthetic letter of credit
facility maturing 2013, and $60 million working capital revolving
facility maturing 2011.  The outlook is stable.  The recovery
rating is '2'.

"The 'B+' rating reflects a high debt burden, substantial
refinancing risk when the term loans mature in June 2013, and poor
merchant market conditions for the short to medium term," said
Standard & Poor's credit analyst Swami Venkataraman.

Coleto is an indirect, wholly owned partnership subsidiary of
International Power PLC (BB/Watch Dev/--) and owns the 632-
megawatt coal-fired Coleto plant in the Electric Reliability
Council of Texas region.

The stable outlook reflects S&P's expectation that the plant will
maintain its reliable operating record.  Downside risk exists if
merchant markets continue to deteriorate to a level that is
significantly below current levels, if the project's availability
is poorer than expected, or if stringent carbon legislation
passes.  Upside potential is limited, given the high leverage at
the project, and will largely be driven by a merchant market
recovery.


CONNECTOR 2000: South Carolina Moves to Dismiss Chapter 9 Case
--------------------------------------------------------------
Bill Rochelle at Bloomberg News reports that the South Carolina
Department of Transportation said in a July 30 bankruptcy court
filing that Connector 2000 Association Inc. is not a
"municipality" and its Chapter 9 reorganization petition must be
dismissed.

Only a "municipality" may be in Chapter 9.  A municipality is
defined in the Bankruptcy Code as a "political subdivision or
public agency or instrumentality of a State."

According to the Bloomberg report, the state devoted much of its
papers to discussing the Chapter 9 reorganization of Las Vegas
Monorail Co., where U.S. Bankruptcy Judge Bruce A. Markell wrote a
42-page opinion in April explaining why a privately owned monorail
didn't fall within the definition of municipality.  Jude Markell
upheld the monorail's filing in Chapter 11.

Bloomberg adds that the state, if it loses on the argument that
the toll road isn't a municipality, contends that only a
"political subdivision" is allowed by South Carolina law to file
in Chapter 9.

                        About Connector 2000

Piedmont, South Carolina-based Connector 2000 Association Inc. is
a non-profit association set up by the South Carolina Department
of Transportation to finance, construct and operate the 16-mile
toll road known as the "Southern Connector" in Greenville County,
and to build the South Carolina Highway 153 Extension.

Connector 2000 filed for Chapter 9 bankruptcy protection on
June 24, 2010 (Bankr. D. S.C. Case No. 10-04467), listing both
assets and debts between $100,000,001 and $500,000,000.  Judge
David R. Duncan presides over the case.  Stanley H. McGuffin,
Esq., at Haynsworth Sinkler Boyd P.A., serves as bankruptcy
counsel.


COUNTERPATH CORP: BDO Canada Raises Going Concern Doubt
-------------------------------------------------------
CounterPath Corporation filed on July 27, 2010, its annual report
on Form 10-K for the year ended April 30, 2010.

BDO Canada LLP, in Vancouver, Canada, expressed substantial doubt
about the Company's ability to continue as a going concern.  The
independent auditors noted that the Company had an accumulated
deficit of $39,779,781 at April 30, 2010, and incurred a net loss
for the year then ended of $5,461,586.

The Company reported a net loss of $5,461,586 on $8,016,857 of
revenue for fiscal 2010, compared with a net loss of $15,838,712
on $9,833,101 of revenue for fiscal 2009.

The Company's balance sheet at April 30, 2010, showed $16,195,374
in assets, $3,552,700 of liabilities, and $12,642,674 of
stockholders' equity.

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

               http://researcharchives.com/t/s?6787

Based in Vancouver, British Columbia, Canada, CounterPath
Corporation (OTC BB: CPAH; TSX-V: CCV) focuses on the design,
development, marketing and sales of desktop and mobile application
software, gateway server software and related professional
services, such as pre and post sales, technical support and
customization services.


COUDERT BROTHERS: Baker & McKenzie Settles Suit for $6-Mil.
-----------------------------------------------------------
Nate Raymond at New York Law Journal reports that Baker & McKenzie
has agreed to pay $6.65 million to compensate the bankruptcy
estate of Coudert Brothers for profits Baker earned from
unfinished business that partners took with them when they left
the defunct Coudert firm.  Baker also will forfeit most of its
interest in an estimated $17 million in contingency fees for
litigation former Coudert partners were handling involving coal
export excise taxes.

According to Law Journal, William Brandt Jr., the president of
Development Specialists Inc., which is administering the Coudert
estate's plan of liquidation, said Baker had already collected
roughly $7 million of those fees.  Mr. Brandt said three of the
coal companies Coudert and Baker represented have refused to pay
the contingency fee, and that litigation against those companies
is now likely.

The Law Journal says the settlement with Baker resolves a lawsuit
brought in April 2009 by the liquidation plan administrator for
Coudert's estate seeking to recover fees that allegedly should
have gone to Coudert, which dissolved nearly five years ago.

A hearing on the settlement agreement, which is subject to
approval by Judge Robert D. Drain, is scheduled for Aug. 19.

The Law Journal says the agreement is conditioned on approval of a
separate settlement with Steven Becker, a former Coudert partner
now at Baker who has agreed to cooperate in helping recover the
contingency fees.

Founded in 1853, Coudert Brothers at its peak was one of the
largest law firms in the world, with more than 600 lawyers in 15
countries and 28 offices.  Partners voted to dissolve the firm in
August 2005.  Baker & McKenzie that September acquired most of
Coudert's New York office, which consisted of 70 lawyers,
including about 25 partners.

David J. Adler, Esq., a partner at McCarter & English, represented
the plan administrator, Development Specialists Inc.  Brian Trust,
Esq., at Mayer Brown represented Baker & McKenzie.

                        About Coudert Bros.

Coudert Brothers LLP was an international law firm specializing in
complex cross-border transactions and dispute resolution.  The
firm had operations in Australia and China.  The Debtor filed for
Chapter 11 protection on Sept. 22, 2006 (Bankr. S.D.N.Y. Case
No. 06-12226).  John E. Jureller, Jr., Esq., and Tracy L.
Klestadt, Esq., at Klestadt & Winters, LLP, represented the Debtor
in its restructuring effort.  Brian F. Moore, Esq., and David J.
Adler, Esq., at McCarter & English, LLP, represented the Official
Committee of Unsecured Creditors.  In its schedules of assets and
debts, Coudert listed total assets of $29,968,033 and total debts
of $18,261,380.

The Bankruptcy Court in August 2008 signed an order confirming
Coudert Brothers LLP's chapter 11 plan.  The Plan contemplated on
paying 39% to unsecured creditors with $26 million claims.


CHARYS HOLDING: Growth Mgt. Loses Bid to Dismiss Clawback Suit
--------------------------------------------------------------
Growth Management, LLC, sought dismissal of a complaint filed in
bankruptcy court by the Charys Liquidating Trust and the C&B
Liquidating Trust.  The Complaint asserts five counts.  Counts I
and III seek avoidance of certain transfers on actual fraudulent
transfer theories pursuant to Sections 548(a)(1)(A) and 544 of the
Bankruptcy Code.  Counts II and IV seek avoidance of certain
transfers on constructive fraudulent transfer theories pursuant to
Sections 548(a)(1)(B) and 544.  Count V seeks recovery of avoided
transfers pursuant to Section 550.  Growth Management contends the
Complaint fails to state a claim upon which relief can be granted.

Prior to filing for chapter 11, Charys Holding Company, Inc., was
engaged in acquiring companies focused on (i) remediation and
reconstruction; and (ii) telecommunications infrastructure.
Crochet & Borel Services, Inc., was acquired by Charys on June 5,
2006.  Prior to -- and in connection with -- the C&B acquisition,
Charys entered into a consulting agreement with Michael Thomas and
Growth Management.  Charys was to "obtain the advice, contacts,
and expert judgment of [Thomas and Growth Management] with respect
to Merger and Acquisition activities of [Charys's] business."

Growth Management received three transfers totaling $1,350,000
pursuant to the Consulting Agreement.

Judge Brendan Linehan Shannon on July 14, 2010, held that the
Complaint adequately:

     -- alleges actual fraudulent transfers;
     -- alleges constructive fraudulent transfers; and
     -- states a claim for recovery of avoided transfers.

The case is Charys Liquidating Trust and C&B Liquidating Trust v.
Growth Management, LLC, Adv. Pro. No. 10-50204.

A copy of the decision is available at:

              http://researcharchives.com/t/s?678b

Counsel for Growth Management, LLC, are:

     Brett D. Fallon, Esq.
     MORRIS JAMES LLP
     500 Delaware Avenue, Suite 1500
     P.O. Box 2306 Wilmington, DE 19801
     Telephone: 302-888-6888
     Facsimile: 302-571-1750
     E-mail: bfallon@morrisjames.com

          - and -

     Christopher Heagy, Esq.
     TYDINGS & ROSENBERG LLP
     100 East Pratt Street, 26th Floor
     Baltimore, MD 21202
     Telephone: 410-752-9762
     Facsimile: 410-727-5460
     E-mail: cheagy@tydingslaw.com

Counsel for Charys, Liquidating Trust and, C&B Liquidating Trust
are:

     Michael G. Busenkell, Esq.
     WOMBLE, CARLYLE, SANDRIDGE & RICE, PLLC
     222 Delaware Avenue, Suite 1501
     Wilmington, DE 19801
     Telephone: 302-252-4324
     Facsimile: 302-661-7724
     E-mail: mbusenkell@wcsr.com

          - and -

     Philip J. Mohr, Esq.
     WOMBLE, CARLYLE, SANDRIDGE & RICE, PLLC
     One West Fourth Street
     Winston-Salem, NC 27101
     Telephone: 336-721-3577
     Facsimile: 336-733-8358
     E-mail: pmohr@wcsr.com


CRISTINA HIPOLITO: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Cristina Balubar Hipolito
          aka Cristina Hipolito-Navarez
        2511 Catalpa Way
        San Bruno, CA 94066

Bankruptcy Case No.: 10-32861

Chapter 11 Petition Date: July 28, 2010

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

Judge: Thomas E. Carlson

Debtor's Counsel: Sydney Jay Hall, Esq.
                  Law Offices of Sydney Jay Hall
                  1308 Bayshore Highway, #220
                  Burlingame, CA 94010
                  Tel: (650) 342-1830
                  E-mail: sydneyhalllawoffice@yahoo.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 creditors together with its
petition.

The petition was signed by the Debtor.


CROWNE SORELLE: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Crowne Sorelle Ltd.
        160 Broadway, Suite 1012
        New York, NY 10038

Bankruptcy Case No.: 10-14078

Chapter 11 Petition Date: July 28, 2010

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

Judge: Stuart M. Bernstein

Debtor's Counsel: Scott S. Markowitz, Esq.
                  Tarter Krinsky & Drogin LLP
                  1350 Broadway, 11th Floor
                  New York, NY 10018
                  Tel: (212) 216-8000
                  Fax: (212) 216-8001
                  E-mail: smarkowitz@tarterkrinsky.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 Nicholas Russo, president.


CUMULUS MEDIA: Posts $12.3 Million Net Income for June 30 Quarter
-----------------------------------------------------------------
Cumulus Media Inc. reported financial results for the three and
six months ended June 30, 2010.

Lew Dickey, Chairman & CEO stated, "This was another quarter of
solid performance for both Cumulus Media, Inc. and Cumulus Media
Partners, LLC.  As we continue to aggressively innovate the radio
business through our proprietary technology platform and operating
systems, these businesses are running with increased efficiency
across all functional areas resulting in strong operating leverage
and healthy free cash flow growth.  As a result, we continue to
make good progress as we work to de-leverage the balance sheets of
both of these entities."

                Leverage and Financial Position

The Company said, "We paid down $8.4 million of debt during the
quarter and $21.2 million year to date resulting in total leverage
of 7.71 times at June 30, 2010.  Trailing Twelve Month Adjusted
EBITDA for covenant purposes was approximately $79.8 million."

                      Three Months' Results

Net revenues for the three months ended June 30, 2010 increased
$3.7 million, or 5.7%, to $69.7 million compared to $66.0 million
for the three months ended June 30, 2009, primarily due to an
increase in revenue from national accounts, political revenue
generated by mid-term congressional elections, and increases in
internet related revenues.  The Company said, "We believe that
incremental growth in advertising revenue for the second half of
the year will be driven primarily by cyclical political spending."

The Company reported a net income of $12.3 million for the three
months ended June 30, 2010, compared with a net income of
$14.0 million for the same period a year ago.

                        Six Months' Results

Net revenues for the six months ended June 30, 2010 increased $4.8
million, or 3.9%, to $126.1 million compared to $121.3 million for
the six months ended June 30, 2009, primarily due to an increase
in revenue from national accounts, political revenue generated by
mid-term congressional elections, and increases in internet
related revenues.  The Company said, "We believe that incremental
growth in advertising revenue for the second half of the year will
be driven primarily by cyclical political spending."

                     Station Operating Expenses

Station operating expenses for the six months ended June 30, 2010,
decreased $1.2 million, or 1.5%, to $80.3 million from
$81.5 million in 2009 as a result of a $2.7 million decrease in
salary related expenses as well as a $1.4 million decrease in
other general expenses resulting from our ongoing efforts to
contain operating costs.  These cost savings were partially offset
by an increase in trade expenses.  The Company said, "We will
continue to monitor all our operating costs and to the extent we
are able to identify any additional cost saving measures, we will
implement them in an attempt to remain compliant with current and
future covenant requirements."

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?6774

                        About Cumulus Media

Based in Atlanta, Georgia, Cumulus Media Inc. (NASDAQ: CMLS) --
http://www.cumulus.com/-- is the second largest radio broadcaster
in the United States based on station count, controlling 350 radio
stations in 68 U.S. media markets.  In combination with its
affiliate, Cumulus Media Partners, LLC, the Company believes it is
the fourth largest radio broadcast company in the United States
when based on net revenues.

                           *     *     *

Cumulus Media carries a 'Caa1' corporate family rating, and 'Caa2'
probability-of-default rating from Moody's Investors Service.

The Company's balance sheet at March 31, 2010, showed $323.0
million in total assets and $695.4 million in total liabilities,
for a stockholders' deficit of $372.3 million.


CURTIS SCHROEDER: Case Summary & 16 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Curtis Schroeder
          aka Curtis E. Schroeder
              Curt Schroeder
        P.O. Box 768
        Oak Bluffs, MA 02557

Bankruptcy Case No.: 10-18128

Chapter 11 Petition Date: July 28, 2010

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

Judge: William C. Hillman

Debtor's Counsel: Nicholas F. Ortiz, Esq.
                  Law Office of Nicholas Ortiz, P.C.
                  306 Dartmouth Street, Suite 501
                  Boston, MA 02116
                  Tel: (617) 716-0282
                  Fax: (617) 507-3456
                  E-mail: nfo@mass-legal.com

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

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

According to the schedules, the Debtor says that assets total
$2,419,659 while debts total $2,626,604.

A copy of the Debtor's list of 16 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/mab10-18128.pdf

The petition was signed by the Debtor.


DANA HOLDING: Posts $9 Million Net Income for June 30 Quarter
-------------------------------------------------------------
Dana Holding Corporation reported second quarter 2010 net income
of $9 million, compared to break-even net income one year ago.
Second-quarter adjusted EBITDA was $154 million, a substantial
improvement over the $94 million reported for the same period in
2009, and adjusted EBITDA margin for the quarter improved to
10.1%, compared with 7.9% one year ago.  Sales for the period were
$1.526 billion, up from $1.190 billion for the second quarter last
year.

The Company's balance sheet at June 30, 2010, showed $4.9 billion
in total assets and $3.2 billion in total liabilities for a
stockholder's equity of $1.6 billion.

Dana generated free cash flow of $137 million during the second
quarter, which compares to $73 million one year ago.  This marked
the fifth consecutive quarter in which the Company achieved
positive free cash flow.  The Company increased its related
guidance, indicating that it expects to achieve positive free cash
flow of more than $100 million in 2010.

During the second quarter, total cash improved by $33 million from
the prior quarter to $1.059 billion.  Since the end of 2009, total
debt has been reduced by $64 million to $939 million at June 30,
2010.  The Company's net cash position of $120 million at the end
of the quarter is an improvement of $176 million from December 31,
2009.  Total liquidity improved by $215 million from the end of
2009 to $1,343 million at June 30.

"I am particularly pleased with our progress during the past
quarter, as evidenced by the swing to positive net income and
achieving positive free cash flow for a fifth consecutive
quarter," said Dana President and Chief Executive Officer Jim
Sweetnam.  "Combined with substantial operating profit
improvements and the effects of our continued restructuring
efforts, the increase in revenues this quarter enabled us to make
further progress in reinforcing our strong cash position.
"Overall, our second-quarter results underscore the consistent
improvements that are positioning Dana for profitable growth
moving forward," he added.

Adjusted EBITDA for the six months ended June 30, 2010, was
$262 million, up significantly from $110 million during the period
last year.  Sales for the first half of 2010 were $3.034 billion,
which compares with $2.406 million during the same period one year
ago.  Dana narrowed its first-half 2010 net loss to $22 million,
compared with a net loss of $157 million in 2009.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?6761

Dana, headquartered in Maumee, Ohio, is a world leader in the
supply of axles, driveshafts, sealing, thermal management
products, as well as genuine service parts.  The customer base
includes virtually every major vehicle in the global automotive,
commercial vehicle, and off-highway markets.  The Company employs
approximately 21,000 people in 26 countries.  Revenues in 2009
were $5.2 billion.


DANIEL DOVE: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Joint Debtors: Daniel Dove
               Heidi Dove
               45 September Ave.
               Henderson, NV 89002

Bankruptcy Case No.: 10-24180

Chapter 11 Petition Date: July 28, 2010

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

Judge: Bruce A. Markell

Debtor's Counsel: Charles T. Wright, Esq.
                  Piet & wright
                  3130 S. Rainbow Blvd., Suite 304
                  Las Vegas, NV 89146
                  Tel: (702) 566-1212
                  Fax: (702) 566-4833
                  E-mail: pwlawecf@gmail.com

Estimated Assets: $0 to $50,000

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

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nvb10-24180.pdf

The petition was signed by the Joint Debtors.


DAVID CARPENTER: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: David Scott Carpenter
        1942 South Pacific Street
        Oceanside, CA 92054

Bankruptcy Case No.: 10-13256

Chapter 11 Petition Date: July 28, 2010

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

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

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

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

A copy of the Debtor's list of 20 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/casb10-13256.pdf

The petition was signed by the Debtor.


DAVID LEVY: Case Summary & 15 Largest Unsecured Creditors
---------------------------------------------------------
Joint Debtors: David Levy
               Angela Levy
               3347 Chicago Street
               San Diego, CA 92117

Bankruptcy Case No.: 10-13383

Chapter 11 Petition Date: July 29, 2010

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

Debtor's Counsel: Joseph J. Rego, Esq.
                  Law Office of Joseph Rego
                  8765 Aero Drive, Suite 306
                  San Diego, CA 92123
                  Tel: (858) 598-6628
                  Fax: (858) 598-6631
                  E-mail: joerego@regolaw.com

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

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

A copy of the Joint Debtors' list of 15 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/casb10-13383.pdf

The petition was signed by the Joint Debtors.


DEAN GROSS: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Dean Gross
          aka Dean M Gross
              Dean Marshall Gross
        Jennifer Gross
          aka Jennifer M Gross
          fka Jennifer M Hogan
          aka Jennifer Hogan-Gross
              Jennifer Marina Hogan
              Jennifer Marina Gross
        12369 Country Day Circle
        Fort Myers, FL 33913

Bankruptcy Case No.: 10-17882

Chapter 11 Petition Date: July 28, 2010

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

Judge: Alexander L. Paskay

Debtor's Counsel: Charles PT Phoenix, Esq.
                  Phoenix Law, PA
                  12800 University Drive, Suite 260
                  Fort Myers, FL 33907
                  Tel: (239) 461-0101
                  Fax: (239) 461-0083
                  E-mail: phoenixlawpa@gmail.com

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

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

According to the schedules, the Debtors say that assets total
$1,103,291 while debts total $1,350,650.

A copy of the Joint Debtors' list of 20 largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/flmb10-17882.pdf

The petition was signed by the Joint Debtors.


DELAWARE HEALTH: S&P Removes 'CCC' Rating from Developing Watch
---------------------------------------------------------------
Standard & Poor's Ratings Services removed its 'CCC' rating on
Delaware Health Facilities Authority's $42.4 million series 2004
and 2005A hospital revenue bonds, issued for Beebe Medical Center
from CreditWatch with developing implications.  Standard & Poor's
placed the rating on CreditWatch on April 15, 2010.  The outlook
is now developing.

The removal of the rating from CreditWatch reflects Standard &
Poor's opinion that the risks Beebe faces related to lawsuits,
while still significant, are not likely to be quantified in the
near term.  The rating remains 'CCC' due to S&P's belief that
significant uncertainty exists about the amount of potential
damages, if any, and Beebe's ability to successfully secure
insurance coverage from its carriers.  S&P also does not know if
the lawsuits will have an ancillary impact on Beebe's business,
although management has indicated it hasn't noticed any yet.

Beebe's management has indicated that its malpractice and general
liability insurers are denying coverage of allegations involving
sexual abuse by a community physician, leaving Beebe exposed to
potential large settlements.  S&P also does not know if insurance
proceeds would be sufficient given the nature of the claims and
the number of victims, although to date, the complaints do not
request any specific dollar amount in damages.

"The developing outlook reflects the possibility that S&P could
raise the rating if in S&P's view Beebe experiences positive
developments such as a judicial finding that Beebe does not have
material culpability, a favorable resolution with Beebe's insurers
on the coverage issue coupled with S&P's estimate that claims in
excess of coverage will likely be manageable, or a settlement of
the claims that avoids Beebe's bankruptcy," said Ms. Sweeney.

Alternatively, S&P could lower the rating if Beebe files for
bankruptcy or experiences financial decline such that S&P believes
payment of debt service is uncertain.

Although S&P cannot predict the potential outcome of litigation,
S&P believes that even with a favorable court decision or out-of-
court settlement, significant costs for legal counsel and other
staffing related to the case will likely hamper operating
performance.  S&P also believe that Beebe faces other risks to its
business base due to the negative publicity, although to date,
management reports Beebe's business volumes and medical staff have
remained stable.

S&P's assessment of recent changes in Beebe's financial profile,
including softer operating income and lower liquidity, in addition
to legal and other costs related to the litigation, reinforces
S&P's view that Beebe's rating is unlikely to return to its former
'BBB+' level.  Nevertheless, S&P believes the hospital retains
many investment-grade characteristics, including a strong market
share and solid balance sheet.


DELPHI CORP: DAS May Close Kokomo Operations, Says UAW
------------------------------------------------------
Delphi Automotive Systems LLC says it will not close any of its
operations in Kokomo, Indiana, Kokomo Tribune reports.

Delphi's statement is in response to a report posted on Inside
Indiana Business's Web site.  In its article, Inside Indiana
quoted United Auto Workers Region 3 Director Mo Davidson as
saying that an assessment is underway about the status of a
fabrication plant owned by General Motors Company in Howard
County.  According to Inside Indiana, the facility employs 375
workers and is likely to experience a drop in orders that could
lead to a phase out of operations.  Mr. Davidson stated in the
report that any phase out would affect Delphi Automotive's
operations in Kokomo, Indiana.

Delphi Automotive is a vendor.  It also leases space from GM in
Howard County, Inside Indiana notes.  According to The Herald
Bulletin, Delphi employs more than 1,300 workers in Howard
County.

"Delphi has no announcements, Delphi is not closing anything,"
Linda Ferries, spokesperson for Delphi, told Kokomo Tribune.

                        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)


DELPHI CORP: Excellus Health Wants Late Claim Allowed
-----------------------------------------------------
Delphi Corp. and its units maintained a medical benefits plan
administered by Excellus Health Plans, Inc., pursuant to a Level
Premium Agreement executed by Delphi Corp.  Pursuant to the LPA,
the Debtors paid a fixed premium from January through December of
each year -- Rating Period.  Before the end of each Rating Period,
the fixed premium payments would be compared against the rates
which actually prevailed during that time frame as approved by the
Superintendent of Insurance.  Any difference between the amount
charged to the Debtors and the prevailing premium payment -- a
Rate Variance -- would be applied to increase or decrease the
rate quote for the following year.

In July 2009, Excellus issued an invoice to the Delphi National
Benefits Center in Lexington, Kentucky, for $411,318 -- the Final
Rate Variance -- that was due July 30, 2009.  The Final Rate
Variance was never paid, Excellus tells the Court.

Pursuant to the effective date notice of the Modified First
Amended Joint Plan of Reorganization, all administrative claims
incurred after June 1, 2009, had to be filed no later than
November 5, 2009.  Accordingly, by this motion, Excellus asks the
Court to allow its late-filed administrative claim for $411,318.

Lee E. Woodard, Esq., at Harris Beach, PLLC, in Syracuse, New
York -- lwoodard@harrisbeach.com -- argues that the Excellus
Claim qualifies for administrative priority under Section 503(b)
of the Bankruptcy Code.  He asserts that the Debtors received and
paid for those benefits pursuant to the LPA, and thus it would be
difficult to deny the Claim arose out of a transaction with the
Debtors.

The Debtors also recognized the importance of continuing the
Medical Benefits as set forth in their request and order to
continue human capital benefit programs dated October 13, 2005,
Mr. Woodward reminds the Court.

More importantly, allowing the Excellus late filed administrative
expense claim will not prejudice the Reorganized Debtors because
the size of the Claim is minimal compared to overall amount of
administrative expenses in the Reorganized Debtors' Chapter 11
cases, Mr. Woodward maintains.  He further notes that counsel for
the Reorganized Debtors had knowledge of the amounts that
Excellus believed were due as early as May 2010.

                        About Delphi Corp.

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

The Company filed for Chapter 11 protection on October 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, 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)


DENTAL PLUS: Case Summary & 13 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Dental Plus, LLC
        1020 Antebellum Circle
        Hendersonville, TN 37075

Bankruptcy Case No.: 10-07928

Chapter 11 Petition Date: July 28, 2010

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

Judge: George C. Paine II

Debtor's Counsel: Lynda F. Jones, Esq.
                  The Jones Law Group PLLC
                  343 Harrison Street
                  Nashville, TN 37219
                  Tel: (615) 983-4500
                  Fax: (615) 983-4502
                  E-mail: lyndafjoneslawfirm@gmail.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 13 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/tnmb10-07928.pdf

The petition was signed by Tania Hunter, owner/dentist.


DHILLON PROPERTIES: Wells Fargo Objects to Cash Collateral Use
--------------------------------------------------------------
Wells Fargo Bank, N.A., has objected to Dhillon Properties, LLC's
request for a final order authorizing the Debtor to use cash
collateral.

As of the petition date, the Debtor owed Wells Fargo, as trustee
for the registered holders of Credit Suisse First Boston Mortgage
Securities Corp., Commercial Mortgage Pass-Through Certificates,
Series 2007-C5, $11,686,088 plus accruing attorney's fees,
interest and costs.

On February 26, 2010, the Lender and the Debtor entered into a
stipulation for adequate protection and limited use of cash
collateral for the Debtor's limited use of cash collateral through
June 30, 2010.  On July 1, 2010, the Lender and the Debtor entered
into a second stipulation for adequate protection and limited use
of cash collateral for the Debtor's limited use of cash collateral
though July 13, 2010.  A copy of the second stipulation is
available for free at http://ResearchArchives.com/t/s?6785

The Lender says that it must analyze the operations and cash flow
of the Property before it consents to the use of its cash
collateral.  To do so, the Lender has on multiple occasions
requested certain financial information, including balance sheets
and profit and loss statements, regarding the Property since the
date of filing from the Debtor.  The Lender says that while the
Debtor has provided the Lender with some of the financial
information, the Lender has not received all of the documents it
has requested, specifically documentation of bank statements
and/or copies of deposits and checks to support the Property's
monthly profit and loss statements.  According to the Lender, the
monthly operating reports filed by the Debtor also lack supporting
documentation.

For various reasons, the Lender cannot rely on the filed monthly
operating reports to property analyze the Debtor's operations.
The Lender says that two monthly operating reports were filed for
February 2010 and yet are completely different.  One of the
February 2010 monthly operating reports is exactly the same report
as was filed for another month.  A monthly operating report was
filed for January 2009, which was almost a year prior to the
bankruptcy filing, no monthly operating report was filed for March
2010, various calculations of the reports are simply incorrect,
including ending cash balance, and the numbers are inconsistent
with the numbers represented on the profit and loss statements
provided to the Lender for the corresponding months.

The Lender says that while the Debtor has been making monthly
payments of $20,000 to the Lender pursuant to the stipulations,
the Debtor should be making monthly interest payments "at the then
applicable nondefault contract rate of interest on the value of
the creditor's interest in the real estate."  The Lender wants the
Debtor to make higher monthly payments as the Debtor has not filed
a plan of reorganization within the required time period.

The Lender is represented by Snell & Wilmer L.L.P.

                  About Dhillon Properties LLC

Elko, Nevada-based Dhillon Properties LLC, dba Holiday Inn
Express, filed for Chapter 11 bankruptcy on Dec. 31, 2009 (Bankr.
D. Nev. Case No. 09-54640).  A.J. Kung, Esq., who has an office in
Las Vegas, Nevada, assists the Company in its restructuring
effort.  In its petition, the Company said it has assets of
$13,217,541, and total debts of $9,260,886.


DON WATKINSON: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Joint Debtors: Don Tobin Watkinson
               Rhonda Lynn Watkinson
               8151 Caminito Sana Luz Sur
               San Diego, CA 92127
               Tel: (858) 353-6440

Bankruptcy Case No.: 10-13305

Chapter 11 Petition Date: July 28, 2010

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

Debtor's Counsel: Mitchell Abdallah, Esq.
                  Abdallah Law Group
                  1006 4th Street, 4th Floor
                  Sacramento, CA 95814
                  Tel: (916) 446-1974
                  E-mail: mitch@abdallahlaw.net

Estimated Assets: $0 to $50,000

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

A copy of the Joint Debtors' list of 20 largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/casb10-13305.pdf

The petition was signed by the Joint Debtors.


DOT VN: Chang Park CPA Raises Going Concern Doubt
-------------------------------------------------
Dot VN, Inc., filed its annual report on Form 10-K, reporting a
$7.3 million net loss on $1.1 million of revenues for the fiscal
year ended April 30, 2010, compared with a $5.4 million net loss
on $1.0 million of revenues for the same period a year ago.

The Company's balance sheet at April 30, 2010, showed $2.5 million
in total assets and $9.3 million in total liabilities, for a
stockholders' deficit of $6.7 million.

Chang G. Park CPA expressed substantial doubt against Dot VN's
ability to continue as a going concern, citing the Company's
losses from operations.

A full-text copy of the Company's annual report is available for
free at http://ResearchArchives.com/t/s?6770

                          About Dot VN

Dot VN, Inc. -- http://www.DotVN.com/-- provides innovative
Internet and telecommunication services for Vietnam.  The Company
was awarded an "exclusive long term contract" by the Vietnamese
government to register ".vn" (Vietnam) domains and commercialize
Parking Page Marketing/Online Advertising worldwide via the
Internet.  Also, Dot VN has exclusive rights to distribute and
commercialize Micro-Modular Data CentersTM solutions and Gigabit
Ethernet Wireless applications to Vietnam and Southeast Asia
region.


DTE ENERGY: Moody's Gives Stable Outlook, Affirms 'Ba3' Rating
--------------------------------------------------------------
Moody's Investors Service has revised DTE Energy Center, LLC's
outlook to stable from negative.  The Ba3 rating has been
affirmed.  The outlook revision and rating affirmation follow the
assignment of the eighth and final Utility Service Agreement to
the new Chrysler Group LLC by the former offtaker, Utility Assets
LLC, a wholly-owned subsidiary of OldCarCo, the new name for the
former Chrysler LLC, which remains in bankruptcy.

The other seven USAs had been previously assigned to Chrysler on
October 8, 2009.  The eighth USA relates to the Sterling Heights
Assembly Plant and was initially expected to be terminated upon
the planned shutdown of SHAP in 2011.  Upon termination of the
USA, a termination payment would have been payable.  The negative
outlook was primarily related to the expectation that OldCarCo
would unable to make the termination payment due to its bankruptcy
coupled with uncertainty regarding Daimler North America Holding
Corporation's willingness to fulfill its obligations under its
guarantee of UALLC and Chrysler's respective obligations under the
USAs, including their obligations to make termination payments.
Daimler North America is a subsidiary of Daimler AG (sr. unsec. A3
with a negative outlook), the former owner of Chrysler's
predecessor.

Following Chrysler's decision to purchase SHAP from OldCarCo, the
SHAP USA was assigned to Chrysler on March 25, 2010.  Because of
the assignment, if and when SHAP is shut down, any termination
payments related to the SHAP USA will now be an obligation of
Chrysler.  This obligation continues to be guaranteed by Daimler
North America.  However, there remains some uncertainty regarding
Daimler North America's willingness to fulfill its obligations
under the guarantee in Moody's opinion.  Moody's notes that
Daimler North America has no economic interest in Chrysler or the
project any longer and when DTEEC filed a claim for a termination
payment against it, Daimler North America rejected the claim
arguing that it had been improperly filed.  Though Chrysler's
business prospects may remain challenged, it is not in bankruptcy
and is legally obligated to make any termination payments due
under the USAs.  As a result, while there is still a possibility
that Daimler North America will be called upon at some point to
make a termination payment, this is no longer the near certainty
that it appeared to be when the offtaker was a bankrupt entity.

Because of the specialized purpose of DTEEC's assets and the pass-
through nature of the USAs, the project is inextricably linked to
the credit quality of the off-taker and guarantor.  Given the off-
taker's expected weak credit quality, the guarantee is the only
form of credit strength remaining in the transaction and is
fundamental to the Ba3 rating.  Under the guarantee, which
constitutes an unconditional and irrevocable full recourse, senior
unsecured obligation of Daimler North America, Daimler North
America guarantees the obligations of UALLC and OldCarCo and their
successors and permitted assigns.  However, the document is silent
on what constitutes a permitted assign and does not address
whether Daimler North America has any consent rights regarding
said assignment.  The project has not received an explicit
acknowledgement from Daimler North America that it remains bound
by its obligations under the guarantee following the assignment.
While the project is not required to obtain, nor is Daimler North
America required to provide, such an acknowledgement, the absence
of one heightens the uncertainty as to whether Daimler North
America will agree to fulfill any future demands made of it under
the guarantee in Moody's opinion.

DTEEC's termination payment demand followed the bankruptcy of
UALLC and Chrysler.  DTEEC asserted that UALLC's bankruptcy
constituted an automatic termination event under the service
agreements.  Because DTEEC was precluded from filing notice of
termination against or making a demand for a termination payment
from UALLC by the automatic stay, it demanded the termination
payment directly from Daimler North America.  Moody's notes that
Daimler North America did not dispute its ultimate obligation to
make termination payments under the guarantee.  Rather, it
asserted that to-date the USAs were not properly terminated and
therefore it was not obligated to make any such payments.  Daimler
North America paid all the claims made against it for UALLC's pre-
petition payables, which totaled approximately $1.6 million.

The rating also considers the implications of a lawsuit Old
CarCo's creditors have filed against Daimler for fraud, asserting
that Daimler illegally transferred billions of dollars worth of
assets to itself from the former Chrysler prior to its sale of the
former Chrysler to Cerberus Capital in 2007.  The lawsuit remains
ongoing.  In Moody's opinion, the litigious and antagonistic
environment created by this lawsuit increases the risk that
Daimler North America may seek to dispute future claims made
against it under the guarantee, particularly in light of its lack
of any ongoing economic interest in the transaction.

The stable outlook reflects Moody's expectation that the project's
operating and financial performance will remain sound unless
Chrysler is forced to reenter bankruptcy.  If this were to occur,
however, the rating could further downward pressure.  The rating
is unlikely to be upgraded until Chrysler firmly reestablishes
itself on sound financial footing.

The last rating action was on August 31, 2009, when DTEEC's Ba3
rating was confirmed and its outlook revised to negative.

DTEEC's rating was assigned by evaluating factors believed to be
relevant to the credit profile of the issuer such as i) the
business risk and competitive position of the issuer versus others
within its industry or sector, ii) the capital structure and
financial risk of the issuer, iii) the projected performance of
the issuer over the near to intermediate term, and iv) the
issuer's history of achieving consistent operating performance and
meeting budget or financial plan goals.  These attributes were
compared against other issuers both within and outside of DTEEC's
core peer group and DTEEC's rating is believed to be comparable to
ratings assigned to other issuers of similar credit risk.

Headquartered in Ann Arbor, MI, DTEEC is owned by subsidiaries of
DTE Energy Company (senior unsecured Baa2, stable outlook) and The
Goldman Sachs Group, Inc. (senior unsecured A1, negative outlook),
each of which holds a 50% interest.  DTEEC is a special purpose
company created to own and operate various utility-related assets
acquired from Chrysler's predecessor.  The assets are located
within eight of Chrysler's manufacturing facilities in the United
States and provide critical support services for vehicle, part,
and component manufacturing operations.  DTEEC entered into
separate 20-year USAs for each facility with Chrysler.  The USAs
are structured to provide DTEEC with protection from certain
events outside its control, including Chrysler's decision to close
or sell any of the manufacturing facilities or extended force
majeure events.  The protection takes the form of required
termination payments from Chrysler, which would be lump sum
payments due within ten days in amounts at least equal to the
amount of debt associated with the affected system.  Daimler North
America guarantees Chrysler's payment and performance obligations
under the service agreements, including the obligation to make
termination payments.


DUN & BRADSTREET: Net Income Down to $56.0-Mil. in 2nd Quarter
--------------------------------------------------------------
Dun & Bradstreet Corporation reported results for the second
quarter ended June 30, 2010.

"With the first half of 2010 behind us, we are on track to meet
our full-year guidance.  International performed well; however, we
are experiencing an uneven recovery in North America, especially
in Sales & Marketing.  We are taking actions to address the weaker
parts of North America and the strategic partnership for our Self
Awareness Solutions is just one example.  Finally, we are making
good progress against the key milestones of our Strategic
Technology Investment, and expect to have the first new products
launched by the end of the year" stated Sara Mathew, D&B's
Chairman and CEO.

                    Second Quarter 2010 Results

Diluted earnings per share before non-core gains and charges for
the quarter ended June 30, 2010 were $1.23, up 2% from $1.21 in
the prior year similar period.

On a GAAP basis, diluted earnings per share for the quarter ended
June 30, 2010 were $1.10 down 23%, from $1.43 in the prior year
similar period, largely due to a one-time gain associated with the
disposal of the domestic portion of our Italian operations.

Core revenue for the second quarter of 2010 was $397.3 million,
down 3% from the prior year similar period before the effect of
foreign exchange.  Deferred revenue was $535.9 million, up 3% from
the similar prior year period, continuing the positive trajectory
that began in the fourth quarter of 2009.

Core revenue results for the second quarter of 2010 reflect the
following by solution set:

  * Risk Management Solutions revenue of $263.0 million, down 1%
    both before and after the effect of foreign exchange;

  * Sales & Marketing Solutions revenue of $105.0 million, down 5%
    before the effect of foreign exchange; and

  * Internet Solutions revenue of $29.3 million, down 6% both
    before and after the effect of foreign exchange.

The Company said, "Total revenue for the second quarter of 2010
was $397.3 million, down 5%, both before and after the effect of
foreign exchange, as compared to the prior year similar period.
As a reminder, the prior year included the results of the domestic
portion of our Italian operations which we divested in the second
quarter of 2009."

"Operating income before non-core gains and charges for the
second quarter of 2010 was $106.5 million, down 6% from the prior
year similar period.  On a GAAP basis, operating income was
$90.5 million, down 18% from the prior year similar period.  Our
second quarter 2010 results includes $7.6 million of costs related
to the Strategic Technology Investment, announced in February 2010
and a $6.8 million charge for impaired assets related to our QED
acquisition resulting from an examination of such assets initiated
in connection with recent matters with Federal Trade Commission.

"Net income attributable to D&B before non-core gains and charges
for the second quarter of 2010 was $62.7 million, down 3% from the
prior year similar period.  On a GAAP basis, net income
attributable to D&B for the quarter was $56.0 million, down 27%
from the prior year similar period, primarily due to a gain of
$12.8 million related to the disposal of the domestic portion of
our Italian operations during the second quarter of 2009."

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?677b

                      About Dun & Bradstreet

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

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


ENTERPRISE PRODUCTS: Fitch Affirms 'BB' Rating on Junior Notes
--------------------------------------------------------------
Fitch Ratings has affirmed the outstanding ratings for Enterprise
Products Operating LLC, Enterprise GP Holdings L.P., and TEPPCO
Partners L.P.:

EPO

  -- Issuer Default Rating at 'BBB-';
  -- Senior unsecured at 'BBB-';
  -- Junior subordinated at 'BB'.

EPE

  -- IDR at 'BB-';
  -- Senior secured revolving credit facility at 'BB';
  -- Senior secured term loans at 'BB'.

TPP

  -- IDR at 'BBB-';
  -- Senior unsecured at 'BBB-';
  -- Junior subordinated at 'BB'.

The Rating Outlook is Stable for each issuer.  The rating action
relates to approximately $13.2 billion of total debt at the
entities.

EPO is the operating partnership for Enterprise Partners L.P., the
largest publicly traded master limited partnership with a current
enterprise value of approximately $32 billion.  EPE is the
publicly traded owner of EPD's general partner and approximately
3.3% of its limited partner interests.  EPE also owns both general
and limited partner interests in Energy Transfer Equity, L.P. (IDR
'BB-' with a Stable Outlook).  TPP is a wholly owned subsidiary of
EPO that was acquired in October 2009.  Only $54 million in TPP
senior and subordinated debt remains outstanding following an
exchange offer for EPO debt at the time of the acquisition.  Given
the current ownership structure TPP's debt is rated the same as
EPO's debt.  Enterprise Products Company (formerly known as EPCO,
Inc.) indirectly owns EPE's general partner interest, 78% of its
limited partner interests and 27% of EPD's limited partner
interests.

EPO's ratings and Stable Outlook are supported by the quality and
diversity of its sizable asset base and the resulting cash flow
performance, as reflected in strong results in 2009 despite weak
natural gas and natural gas liquids prices.  EPO maintains a high-
quality, diversified midstream asset base, which permeates most
major domestic gas producing basins and is complemented by
offshore activities, significant gathering and processing
operations and large-scale transportation assets.  EPO
significantly enhanced its refined products operating base through
the acquisition of TPP.  The company continues to increase the
fee-based component of its earnings while attempting to mitigate
its commodity price exposure through an active hedging program.

Additional favorable characteristics for EPO include:

  -- conservative distribution practices at EPD which directly
     resulted in the retention of approximately $256 million of
     excess distributable cash flow for the first half of 2010;

  -- a continuation of supportive ownership following the passing
     of Dan Duncan, as most recently demonstrated by the purchase
     of EPD common units by the Duncan family owned Enterprise
     Products Company;

  -- beneficial industry trends in the pricing relationship of
     natural gas to crude oil, the growing utilization of NGLs by
     the petrochemical industry as feedstock for ethylene
     production, and the movement of natural gas production
     activity to liquids rich producing basins such as the Eagle
     Ford Shale play where EPO is well positioned.

Credit concerns for EPO include:

  -- an aggressive growth strategy with targeted capital
     expenditures of approximately $3 billion in 2010;

  -- exposure to commodity prices despite an active hedging
     program that limits volatility of NGL margins over the near
     term but which is limited in its ability to effectively hedge
     longer term;

  -- modest exposure to reduced oil and gas offshore volumes
     resulting from the uncertainty caused by the federal drilling
     moratorium.

Fitch expects EPD's consolidated Debt to EBITDA, assuming 75%
equity treatment for the EPO and TPP subordinated notes, to
approximate 3.8 times in 2010 and to increase modestly in 2011.
Absent material capital spending beyond current expectations,
leverage ratios should improve beginning in 2012 as ongoing
projects become operational and generate cash returns.  The
company's liquidity position is strong.  There are currently no
borrowings outstanding under EPO's $1.75 billion credit facility
that matures in November 2012.

EPE's ratings and Stable Outlook are supported by the diverse and
stable cash flows from the underlying asset base, the benefits of
receiving both limited partner and general distributions and
ownership's long track record of financially supporting the
Enterprise entities.  The debt at EPE is serviced by cash flows
from sizable and diverse midstream MLPs.  Through these interests,
EPE is exposed to every phase of the midstream energy business as
well as a sizable propane distribution portfolio.  The underlying
MLP ratings reflect the strength of each partnership's balance
sheet as well as the size, quality and market position of the
respective asset bases.

Credit concerns for EPE include: EPE's lack of direct ownership of
operating assets; the subordination of EPE's debt to debt at the
MLP's; and refinancing risk as its outstanding debt matures in
2012 and 2014.

EPE's debt leverage, as measured by the cash distributions it
receives less operating expenses to debt, continues to strengthen
as cash flows increase with the growth of the underlying MLPs.
Debt to EBITDA for 2009 was 3.1x and absent EPE incurring
additional debt leverage should approach 2.0x in 2012 as several
large ongoing projects at EPD and ETP become operational and
expect to generate incremental upstream cash.


ENVIRONMENTAL POWER: Files for Chapter 7 Protection
---------------------------------------------------
Environmental Power and six affiliated Debtors filed for Chapter 7
protection (Bankr. S.D.N.Y. Case No. 10-23524), BankruptcyData.com
reports.

Environmental Power develops renewable energy facilities.

According to BData, the Company's single operating subsidiary,
Microgy also filed for Chapter 7 protection.  Micrology develops
biogas facilities, which can cost-effectively and reliably produce
clean, renewable gas from agriculture and food industry wastes
while simultaneously creating significant quantities of marketable
carbon offset credits.

The Debtors are represented by Kenneth M. Lewis, Esq., at Lewis
Law PLLC.

                      About Environmental Power

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


EURONET WORLDWIDE: S&P Gives Positive Outlook, Affirms 'BB' Rating
------------------------------------------------------------------
Standard & Poor's Ratings Services said that it revised its
outlook on Euronet Worldwide Inc. to positive from stable and
affirmed its 'BB' counterparty credit rating on the company.

"S&P's ratings on Euronet are driven by strong, high-quality
earnings, a good first-mover strategic advantage in multiple
markets, and a solid funding base," said Standard & Poor's credit
analyst Jeffrey Zaun.  "Offsetting factors include negative
tangible equity, exposure to exchange-rate fluctuations, and
significant debt relative to earnings."

Management's investment in expanding three business lines
simultaneously has tempered earnings and entailed considerable
operational risk.  Nevertheless, reduced debt as well as the
quality, diversity and consistency of the firm's core earnings are
supportive of the rating.

Leawood, Kan.-based Euronet operates ATMs and provides payment and
money transfer services, mostly outside the U.S.

The positive outlook reflects the firm's strong core financial
performance and cash flow coverage.

As global economic conditions stabilize, S&P could upgrade Euronet
if it continues to pay down debt while turning in steady
operational performance.

S&P could downgrade the company if large acquisitions or depressed
economic conditions weaken its financial profile, degrading its
leverage and debt service metrics.


EVEREST HOLDINGS: U.S. Trustee Balks at Omissions to Plan Outline
-----------------------------------------------------------------
Bankruptcy Law360 reports that U.S. trustee Charles F. McVay has
objected to the disclosure statement of Everest Holdings, LLC,
asserting that the document doesn't explain who will own the
reorganized company, among other omissions.

                      About Everest Holdings

Everest Holdings, LLC filed for Chapter 11 bankruptcy protection
on August 30, 2009 (Bankr. D. Colo. Case No. 09-27906).  Its
affiliates, EDC Denver I, LLC, and 7677 East Berry Avenue
Associates, L.P., also filed for bankruptcy.  Brownstein Hyatt
Farber Schreck, LLP, serves as counsel for the Debtors.

7677, a Delaware limited partnership, develops and operates a
luxury residential, retail, and entertainment development in
Greenwood Village, Colorado.  The Project includes two residential
condominium towers, The Landmark (which opened in 2004) and The
Meridian (which opened in 2007). Neither tower is fully occupied
and sales efforts for both towers are ongoing.

EDC Denver is the general partner of 7677 and Everest Holdings is
the sole member of EDC Denver.  Zach Davidson is the manager of
both EDC Denver and Everest Holdings.

Everest Holdings estimated $100,000,001 to $500,000,000 in assets
and $50,000,001 to $100,000,000 in liabilities in its Chapter 11
petition.


FAYETTEVILLE MARKETFAIR: Can Continue Using Cash Collateral
-----------------------------------------------------------
Fayetteville Marketfair Investors, LLC, obtained for the seventh
time interim authorization from the Hon. Randy D. Doub of the U.S.
Bankruptcy Court for the Eastern District of North Carolina to use
cash collateral.

Capmark Finance Inc. holds a promissory note of $19,850,000
executed by the Debtor.  The debt is secured by the Debtor's
Marketfair Mall, in Fayetteville, North Carolina.  The Debtor says
it has no offsets, setoffs or counterclaims against Capmark that
could be asserted against the prepetition obligations.  Capmark
has properly perfected its first priority liens and security
interest in the prepetition collateral.

The Debtor needs to use cash collateral to make payment of its
ordinary operating expenses including payments for maintenance,
security, and utilities.  The Debtors will use the collateral
pursuant to a 30-day budget, a copy of which is available for free
at http://bankrupt.com/misc/Fayetteville_Marketfair_budget.pdf

The Debtor will continue to collect rents, and tenants of the real
property are directed and authorized to pay rent to the Debtor.
All rents collected will be deposited into a debtor-in-possession
bank account, and the Debtor will make no expenditures from the
account without written permission from Capmark or by further
court order.

The Debtor will provide Capmark a detailed cash flow projection
setting forth the amount and sources of gross cash collections and
disbursements in sufficient detail satisfactory to Capmark that
the Debtor anticipates will occur during the next 60-day period.

The Court's order also provides that the Debtor is authorized and
directed to make payment of all Capmark's reasonable attorneys'
fees upon the submission of invoices detailing fees and expenses
on not less than 10 days' notice, with an opportunity to review,
to the Debtor, counsel to the Debtor, counsel to the Committee and
the Bankruptcy Administrator.

The Debtor is deemed to transfer, convey, grant and assign to
Capmark as replacement liens for the prepetition liens, liens upon
and security interests in the postpetition cash collateral.  The
Debtor agrees that the postpetition liens will be senior, first-
priority, validly perfected liens, subordinate only to payment of
fees to the Bankruptcy Administrator.

The Court has set an interim hearing for August 12, 2010, at
2:00 p.m. on the Debtor's cash collateral use.

                    About Fayetteville Marketfair

Miami, Florida-based Fayetteville Marketfair Investors, LLC, filed
for Chapter 11 on Dec. 14, 2009 (Bankr. E.D. N.C. Case No. 09-
10859).  William P. Janvier, Esq., at Everett Gaskins Hancock &
Stevens, 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.


FEDERAL-MOGUL: Asbestos Trust Gets CNA Injunction Extension
-----------------------------------------------------------
Judge Joseph H. Rodriguez of the U.S. District Court for the
District of Delaware granted the Federal Mogul Asbestos Personal
Injury Trust's request and extended third party injunction
protections afforded to a protected party pursuant to the Debtors'
confirmed Fourth Amended Joint Plan of Reorganization to these CNA
Companies:

-- Columbia Casualty Company;

-- Continental Casualty Company;

-- Continental Insurance Company, for itself and as
    successor-in-interest to policies issued by Harbor
    Insurance Company; and

-- Union America Reinsurance Company, also known as
    Underwriters Reinsurance Company.

The CNA Companies are, hence, deemed to be Protected Parties
within the meaning of the Confirmation Order.

                         About Federal-Mogul

Federal-Mogul Corporation is a supplier of powertrain, chassis and
as safety technologies, serving the world's foremost original
equipment manufacturers of automotive, light commercial, heavy-
duty, agricultural, marine, rail, off-road and industrial
vehicles, as well as the worldwide aftermarket.  Federal-Mogul was
founded in Detroit in 1899.  The Company is headquartered in
Southfield, Michigan, and employs nearly 41,000 people in 33
countries.

The Company filed for Chapter 11 protection on October 1, 2001
(Bankr. Del. Case No. 01-10582).  Attorneys at Sidley Austin Brown
& Wood, and Pachulski, Stang, Ziehl & Jones, P.C., represented the
Debtors in their restructuring effort.  When the Debtors filed for
protection from their creditors, they listed $10.15 billion in
assets and $8.86 billion in liabilities.  Attorneys at The Bayard
Firm represented the Official Committee of Unsecured Creditors.

The Debtors' Reorganization Plan was confirmed by the Bankruptcy
Court on November 8, 2007, and affirmed by the District Court on
November 14, 2007.  Federal-Mogul emerged from Chapter 11 on
December 27, 2007.  (Federal-Mogul Bankruptcy News; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000)

                           *     *     *

As reported by the TCR on June 5, 2009, Standard & Poor's Ratings
Services said it has lowered its corporate credit rating on
Federal-Mogul Corp. to 'B+' from 'BB-'.  "The ratings reflect
Federal-Mogul's weak business risk profile as a major participant
in the highly competitive global auto industry, and its aggressive
financial risk profile," S&P said.

Moody's Investors Service in April 2009, lowered corporate family
rating of Federal-Mogul to B1 from Ba3.  At that time, Moody's
said the downgrade "reflects the company's weakened credit metrics
as a result of the dramatic decline of global automotive
production and the impact of the global recessionary environment
on consumer spending."

The ratings have remained the same at present.


FEDERAL-MOGUL: Gets Dec. 27 Extension for Claims Objections
-----------------------------------------------------------
Federal-Mogul Corporation and its debtor-affiliates sought and
obtained from the U.S. Bankruptcy Court for the District of
Delaware an extension until December 27, 2010, the period within
which they may object to proofs of claim or interest and any
administrative claims.

Pursuant to Section 8.17 of the Debtors' Fourth Amended Joint Plan
of Reorganization, subject to certain enumerated exceptions,
"unless otherwise ordered by the Bankruptcy Court, all objections
to Claims against the U.S. Debtors shall be filed with the
Bankruptcy Court on or before six months following the Effective
Date."  Section 11.14 of the Plan also provides that subject to
certain enumerated exceptions, "[u]nless otherwise ordered by the
Bankruptcy Court . . . the Confirmation Order shall operate to set
a bar date for Administrative Claims against the U.S. Debtors,
which bar date shall be the first Business Day that is at least
120 days after the Effective Date."

The Plan became effective on December 27, 2007.

James E. O'Neill, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Delaware -- joneill@pszjlaw.com -- contends that
extending both the Claims Objection Deadline and the
Administrative Claims Objection Deadline is necessary.  He notes
that the Debtors have continued to make substantial progress in
resolving all Claims against their estates.

The Debtors stated in their last motion to extend the deadlines
that nearly all of their prepetition claims and Administrative
Claims either had been resolved or were the subject of active
negotiations with the purported claim holders, Mr. O'Neill
relates.  He informs Judge Fitzgerald that the Debtors have also
now made all three distributions under the Plan to the holders of
Unsecured Claims against the U.S. Debtors, completing the
overwhelming majority of distributions that remained to be made
under the Plan.

Since the last request for extensions, Mr. O'Neill says, the
Debtors have also continued to make progress in resolving the
handful of outstanding Claims, and as a result have now either
objected to or resolved virtually all remaining Claims against
their estates.  Specifically, the Debtors have filed two
additional omnibus claims objections against 30 unsecured Claims
and against Claim Nos. 10950, 10951, and 10952 filed by
Continental Insurance Company and Fidelity & Casualty Company of
New York.

The Court has sustained the Objection against the 30 Claims, while
the Omnibus Objection to the claims of Continental and Fidelity
remains pending, Mr. O'Neill tells Judge Fitzgerald.  He adds,
among other things, that the Debtors have also resolved
outstanding objections to other Claims in their previously filed
omnibus objections.

As a result of the Debtors' efforts, there is a very small number
of prepetition Claims that remain outstanding and unresolved
against the estates, Mr. O'Neill asserts.  The Debtors are hopeful
that most, if not all, of those Claims will be consensually
resolved during the extension period currently requested.

In the absence of the relief sought, Mr. O'Neill argues, the
Debtors will be required to prepare and file various objections to
pending Claims and Administrative Claims, which would inevitably
prove disruptive to ongoing efforts to reach consensual
resolutions of those claims.

                         About Federal-Mogul

Federal-Mogul Corporation is a supplier of powertrain, chassis and
as safety technologies, serving the world's foremost original
equipment manufacturers of automotive, light commercial, heavy-
duty, agricultural, marine, rail, off-road and industrial
vehicles, as well as the worldwide aftermarket.  Federal-Mogul was
founded in Detroit in 1899.  The Company is headquartered in
Southfield, Michigan, and employs nearly 41,000 people in 33
countries.

The Company filed for Chapter 11 protection on October 1, 2001
(Bankr. Del. Case No. 01-10582).  Attorneys at Sidley Austin Brown
& Wood, and Pachulski, Stang, Ziehl & Jones, P.C., represented the
Debtors in their restructuring effort.  When the Debtors filed for
protection from their creditors, they listed $10.15 billion in
assets and $8.86 billion in liabilities.  Attorneys at The Bayard
Firm represented the Official Committee of Unsecured Creditors.

The Debtors' Reorganization Plan was confirmed by the Bankruptcy
Court on November 8, 2007, and affirmed by the District Court on
November 14, 2007.  Federal-Mogul emerged from Chapter 11 on
December 27, 2007.  (Federal-Mogul Bankruptcy News; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000)

                           *     *     *

As reported by the TCR on June 5, 2009, Standard & Poor's Ratings
Services said it has lowered its corporate credit rating on
Federal-Mogul Corp. to 'B+' from 'BB-'.  "The ratings reflect
Federal-Mogul's weak business risk profile as a major participant
in the highly competitive global auto industry, and its aggressive
financial risk profile," S&P said.

Moody's Investors Service in April 2009, lowered corporate family
rating of Federal-Mogul to B1 from Ba3.  At that time, Moody's
said the downgrade "reflects the company's weakened credit metrics
as a result of the dramatic decline of global automotive
production and the impact of the global recessionary environment
on consumer spending."

The ratings have remained the same at present.


FEDERAL-MOGUL: Reports $49 Million Second Quarter Net Profit
------------------------------------------------------------
Federal-Mogul Corporation (Nasdaq: FDML) reported its second
quarter 2010 financial results, with sales of $1.6 billion,
23 percent higher versus Q2 2009, strong gross margin of
$274 million or 17.1 percent and net income of $49 million or
$0.49 per diluted share. Analysts' consensus earnings expectation
was $0.32 per share for Q2 2010.

                       Financial Summary
                         (in millions)

                                    2010      2009
                                    ----      ----
                                     Q1        Q1         B/(W)
                                    ----      ----        -----
Net Sales                          $1,598    $1,304         $294

Gross Margin                          274       198           76
pct. of sales                       17.1%     15.2%     1.9 pts.

SG&A                                 (165)     (170)           5
pct. of sales                       10.3%     13.0%     2.7 pts.

Net Income
attributable to FMC                   49         3           46

Earnings Per Share
in dollars, diluted EPS             0.49      0.03         0.46

Operational EBITDA                    203       133           70
pct. of sales                       12.7%     10.2%     2.5 pts.

Cash Flow Before Acquisition           47         6           41
Cash Flow                               8         6            2

"Federal-Mogul's results in the second quarter of 2010 show our
ability to deliver strong financial performance by converting
incremental revenue to profitability due to our continued focus on
efficiently managing our cost base established during 2009," said
Jose Maria Alapont, president and chief executive officer.
"Federal-Mogul's margins, both in absolute terms and as a
percentage of sales, are significantly higher than a year ago and
we have strongly improved year-over-year cash flow."

For the first half of 2010, compared to the same period one year
ago, Federal-Mogul converted additional sales of $545 million into
additional net income of $161 million, a conversion rate of
30 percent.

The company's stronger sales performance is the result of market
share gains in all regions and markets, on top of a significant
improvement in global automotive original equipment light vehicle
and commercial vehicle market demand.  Federal-Mogul's sales in Q2
2010 of $1,598 million improved 23 percent, versus $1,304 million
recorded during the same period one year ago.  The company's
original equipment sales increased in North America by 81 percent,
Asia Pacific by 46 percent and Europe by 31 percent.  Federal-
Mogul's growth in key developing markets continued strong with
year-over-year growth of 63 percent in China and 20 percent in
India.

Gross margin in Q2 2010 was $274 million or 17.1 percent of sales
versus $198 million or 15.2 percent in Q2 2009, a two percentage
point improvement.  Federal-Mogul recorded SG&A expense of
$165 million or 10.3 percent of sales during Q2 2010, versus
$170 million or 13.0 percent of sales in Q2 2009.  "SG&A expense
control remains a key focus as we strive to enhance profitability
while supporting the sales increase of 23 percent," Mr. Alapont
said.

The company earned net income of $49 million or $0.49 per diluted
share in Q2 2010 versus net income of $3 million or $0.03 per
diluted share in Q2 2009.  The company has reported positive net
income for the last four quarters, reflecting the benefit of its
revenue diversification, cost management focus, leading technology
and innovative products.

Operational EBITDA in Q2 2010 was $203 million or 12.7 percent of
sales, 53 percent higher than operational EBITDA of $133 million
or 10.2 percent of sales in Q2 2009.  EBITDA, in absolute terms
and as a percent of sales, improved in every reporting segment of
the company, demonstrating Federal-Mogul's ability to increase
efficiency, offset the impact of weaker currencies and commodity
price increases and compensate for regional markets where light
vehicle production remains low.

The company generated strong positive cash flow of $47 million
during Q2 2010 and internally funded the recent $39 million
strategic acquisition of the Daros Group, a well-recognized
manufacturer of large bore piston rings.  Net of the acquisition
price, cash flow for Q2 2010 was $8 million.  Consistent, strong
cash management and operating performance generated cash flow of
$97 million, before the acquisition, for the first six months of
2010 and over $400 million for the last 12 months.

The company maintains solid liquidity with over $1 billion cash
and an undrawn $500 million revolver.  "This ability to generate
significant cash flow, contain costs in the face of a significant
volume increase and deliver strong earnings is indicative of the
strength of the company's sustainable global profitable growth
strategy," Mr. Alapont said.

"Our strong second quarter earnings and cash flow performance
demonstrates once again that we are on the right track,"
Mr. Alapont said.  "The company's commitment to leading technology
and innovation to drive growth in developing markets was recently
confirmed with the official grand opening of our Asia Pacific
Headquarters and Technical Center.  Federal-Mogul's 100,000 square
foot facility in Shanghai contains some of the most sophisticated
development, testing and analysis equipment in our global
engineering network.  We already manufacture in Asia Pacific the
main products in our portfolio within our 21 manufacturing sites
located in the region, supporting leading light vehicle, heavy-
duty and aftermarket customers.  We remain committed to enhancing
and developing our presence in the Asia Pacific region."

"The company's recent acquisition of the Daros Group will expand
Federal-Mogul's global presence and portfolio of energy,
industrial and transport products.  Both of these initiatives
demonstrate our growth and focus on developing innovative
solutions to meet the increasing requirements of our customers and
solve the industry's most pressing challenges for fuel efficiency,
emissions reduction and improved vehicle safety.  Through strong
financial performance, customer satisfaction and leading
technology, we are demonstrating our capability to generate
sustainable global profitable growth," Mr. Alapont concluded.

    * Operational EBITDA is defined as earnings before interest,
      income taxes, depreciation and amortization, and certain
      items such as restructuring and impairment charges,
      Chapter 11-related reorganization expenses, gains or
      losses on the sales of businesses, and the expense
      relating to U.S.-based funded pension plans.

    * Cash flow is equal to net cash provided by operating
      activities less net cash used by investing activities, as
      set forth on the attached statement of cash flows,
      excluding cash received from the 524g trust and impacts of
      the Chapter 11 plan of reorganization.

A full-text-copy of Federal-Mogul Corp.'s Second Quarter 2010
Results filed on Form 10-Q with the U.S. Securities and Exchange
Commission is available at no charge at:

             http://researcharchives.com/t/s?6753

             Reorganized Federal-Mogul Corporation
                         Balance Sheet
                         (In millions)

                            Assets

                                            June 30     Dec. 31
                                              2010        2009
                                            -------     -------
Current Assets:
  Cash and equivalents                       $1,020      $1,034
  Accounts receivable                         1,119         950
  Inventories                                   803         823
  Prepaid expenses & other current assets       211         221
                                           --------    --------
Total current assets                          3,153       3,028

Property, plant and equipment                 1,685       1,834
Goodwill & indefinite-lived
  intangible assets                           1,452       1,427
Definite-lived intangible assets, net           491         515
Other non-current assets                        303         323
                                           --------    --------
Total Assets                                 $7,084      $7,127
                                           ========    ========

             Liabilities and Shareholders' Equity

Current liabilities:
  Short-term debt &
     current portion of long-term debt          $97         $97
  Accounts payable                              611         537
  Accrued liabilities                           416         410
  Current portion of postemployment
     benefit liability                           59          61
  Other current liabilities                     152         175
                                           --------    --------
Total current liabilities                     1,335       1,280

Long-term debt                                2,757       2,760
Post-employment benefits                      1,105       1,298
Long-term portion of deferred income taxes      494         498
Other accrued liabilities                       203         192

Shareholders' equity:
  Preferred stock                                --          --
  Common stock                                    1           1
  Additional paid-in capital                  2,150       2,123
  Accumulated deficit                          (450)       (513)
  Accumulated other comprehensive loss         (576)       (571)
  Treasury stock, at cost                       (17)        (17)
                                           --------    --------
Total FMC Shareholders' Equity                1,108       1,023
                                           --------    --------
Noncontrolling interests                         82          76
                                           --------    --------
Total Shareholders' Equity                    1,190       1,099
                                           --------    --------
Total Liabilities and Shareholders' Equity   $7,084      $7,127
                                           ========    ========

                   Federal-Mogul Corporation
                    Statement of Operations
                         (In millions)

                                             Three Months Ended
                                                   June 30
                                             ------------------
                                               2010        2009
                                              ------      ------
Net sales                                     $1,598      $1,304
Cost of products sold                         (1,324)     (1,106)
                                            --------    --------
Gross margin                                     274         198

Selling, general & administrative expenses      (165)       (170)
Interest expense, net                            (32)        (34)
Amortization expense                             (12)        (12)
Equity earnings of unconsolidated affiliates      10           3
Restructuring expense, net                        (5)         (1)
Other (expense) income, net                       (2)         13
                                            --------    --------
Income (loss) before income taxes                 68          (3)

Income tax (expense) benefit                     (18)         10
                                            --------    --------
Net income (loss)                                 50           7

Less net income attributable to
  noncontrolling interests                       (1)         (4)

Net income (loss) attributable to                $49          $3
  Federal-Mogul                             ========    ========

                   Federal-Mogul Corporation
                    Statement of Cash Flows
                         (In millions)
                                               Six Months Ended
                                                   June 30
                                             ------------------
                                              2010        2009
                                             ------      ------
Cash Provided From (Used By)
  Operating Activities:
Net income (loss)                               $67        ($94)
Adjustments to reconcile
net income (loss) to net cash:
  Depreciation and amortization                 162         158
  Cash received from 524(g) Trust                --          40
  Payments to settle non-debt liabilities       (16)        (50)
  Loss on Venezuelan currency devaluation        20          --
  Equity earnings of non-
    consolidated affiliates                     (17)         (4)
  Cash dividends received from                   24          --
    non-consolidated affiliates
  Change in postemployment benefits              (4)         28
  Gain on sale of debt investment                --          (8)
  Change in deferred taxes                      (22)         (4)
  Gain on sale of property, plant & equip.       (2)         --
Changes in operating assets & liabilities:
  Accounts receivable                          (212)       (105)
  Inventories                                   (21)         29
  Accounts payable                              106        (138)
  Other assets & liabilities                     92          29
                                           --------    --------
Net Cash Provided From (Used By)                177        (119)
Operating Activities

Cash Provided From (Used By)
Investing Activities:
Expenditures for property, plant & equipment    (98)        (88)
Payments to acquire business                    (39)         --
Net proceeds from the sale of property            2          --
Net settlement from sale of debt investment      --           8
                                           --------    --------
Net Cash Used by Investing Activities          (135)        (80)

Cash Provided From (Used By)
  Financing Activities:
Principal payments on long-term debt            (15)        (15)
Decrease in other long-term debt                 (2)         (2)
Increase (decrease) in short-term debt            5          (3)
Net payments from factoring arrangements        (12)         (4)
                                           --------    --------
  Net Cash Used By Financing Activities         (24)        (24)

  Effect of Venezuelan currency
     devaluation on cash                        (16)         --
  Effect of foreign currency exchange
     rate fluctuations on cash                  (16)         22
                                           --------    --------
  Effect of foreign currency                    (32)         22
     fluctuations on cash

Decrease in Cash and Equivalents                (14)       (201)

Cash and equivalents at beginning of period   1,034         888
                                           --------    --------
Cash and equivalents at end of period        $1,020        $687
                                           ========    ========

                         About Federal-Mogul

Federal-Mogul Corporation is a supplier of powertrain, chassis and
as safety technologies, serving the world's foremost original
equipment manufacturers of automotive, light commercial, heavy-
duty, agricultural, marine, rail, off-road and industrial
vehicles, as well as the worldwide aftermarket.  Federal-Mogul was
founded in Detroit in 1899.  The Company is headquartered in
Southfield, Michigan, and employs nearly 41,000 people in 33
countries.

The Company filed for Chapter 11 protection on October 1, 2001
(Bankr. Del. Case No. 01-10582).  Attorneys at Sidley Austin Brown
& Wood, and Pachulski, Stang, Ziehl & Jones, P.C., represented the
Debtors in their restructuring effort.  When the Debtors filed for
protection from their creditors, they listed $10.15 billion in
assets and $8.86 billion in liabilities.  Attorneys at The Bayard
Firm represented the Official Committee of Unsecured Creditors.

The Debtors' Reorganization Plan was confirmed by the Bankruptcy
Court on November 8, 2007, and affirmed by the District Court on
November 14, 2007.  Federal-Mogul emerged from Chapter 11 on
December 27, 2007.  (Federal-Mogul Bankruptcy News; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000)

                           *     *     *

As reported by the TCR on June 5, 2009, Standard & Poor's Ratings
Services said it has lowered its corporate credit rating on
Federal-Mogul Corp. to 'B+' from 'BB-'.  "The ratings reflect
Federal-Mogul's weak business risk profile as a major participant
in the highly competitive global auto industry, and its aggressive
financial risk profile," S&P said.

Moody's Investors Service in April 2009, lowered corporate family
rating of Federal-Mogul to B1 from Ba3.  At that time, Moody's
said the downgrade "reflects the company's weakened credit metrics
as a result of the dramatic decline of global automotive
production and the impact of the global recessionary environment
on consumer spending."

The ratings have remained the same at present.


FIRST AMERICAN: Case Summary & 3 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: First American Wealth Management LLC
        8501 SW 124 Avenue, Suite 101
        Miami, FL 33183

Bankruptcy Case No.: 10-31883

Chapter 11 Petition Date: July 29, 2010

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

Judge: A. Jay Cristol

Debtor's Counsel: Robert C. Meyer, Esq.
                  2223 Coral Way
                  Miami, FL 33145
                  Tel: (305) 285-8838
                  Fax: (305) 285-8919
                  E-mail: meyerrobertc@cs.com

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

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

A copy of the Company's list of 3 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/flsb10-31883.pdf

The petition was signed by Alejandro Alvarez, manager.


FIRST CHESTER: Grant Thornton Raises Going Concern Doubt
--------------------------------------------------------
First Chester County Corporation filed on July 27, 2010, its
annual report on Form 10-K for the year ended December 31, 2009.

Grant Thornton LLP, in New York, expressed substantial doubt about
the Company's ability to continue as a going concern.  The
independent auditors noted that on October 16, 2009, the Company's
subsidiary, the First National Bank of Chester County, entered
into a Memorandum of Understanding with the Office of the
Comptroller of the Currency, pursuant to which the Bank Company
has agreed, among other things, to develop a comprehensive three-
year capital plan.  The OCC also mandated higher individual
minimum capital ratio requirements.  The Company has incurred a
net loss from operations, primarily from the higher provisions for
loan losses due to increased levels of non-performing assets, the
write-off of goodwill and the establishment of a valuation
allowance on the deferred tax assets.  These losses have caused
the Bank to fall below certain IMCRs as of
December 31, 2009, and March 31, 2010.  The OCC may deem the
Bank's noncompliance with the IMCRs to be an unsafe and unsound
banking practice which may subject the Bank to a capital
directive, a consent order, or such other administrative actions
or sanctions as the OCC considers necessary.

The Company reported a net loss of $27.8 million on $45.3 million
of net interest income for 2009, compared to net income of
$5.5 million on $32.9 million of net interest income for 2008.

The Company's balance sheet at December 31, 2009, showed
$1.377 billion in assets, $1.320 billion of liabilities, and
$56.9 million of stockholders' equity.

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

               http://researcharchives.com/t/s?6789

West Chester, Pa.-based First Chester County Corporation is the
bank holding company.  The Company's principal activities are the
owning and supervision of First National Bank of Chester County
- http://www.1nbank.com/- a full service commercial bank.  The
Bank currently conducts its business through 23 primary banking
offices located in Chester, Montgomery, Delaware, Lancaster and
Cumberland Counties, Pennsylvania, including its main office.

On December 27, 2009, the Company entered into a definitive merger
agreement, as amended on March 4, 2010, with Tower Bancorp, Inc.,
the holding company for Graystone Tower Bank, pursuant to which
the Company will merge into Tower.  The merger agreement provides
that upon consummation of the merger, the Bank will merge into
Graystone, with Graystone as the surviving institution.  As of
June 30, 2010, the merger has received all required regulatory
approvals and the Company expects to complete the merger during
2010.


FOUNTAIN VILLAGE: Gets Final Court Okay to Use Cash Collateral
--------------------------------------------------------------
Fountain Village Development obtained final authorization from the
Hon. Randall L. Dunn of the U.S. Bankruptcy Court for the District
of Oregon to use the cash collateral of Sam and Michele Pishue.

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

The Debtor is also authorized to grant adequate protection to the
lenders for any diminution in value of the lenders' collateral.

Portland, Oregon-based Fountain Village Development, a general
partnership, aka Fountain Village Development Co, owns, develops,
operates, manages, and/or leases 20 buildings in Portland,
Hillsboro, and Gearhart, Oregon.  The Company has filed for
Chapter 11 bankruptcy protection on November 20, 2009 (Bankr. D.
Ore. Case No. 09-39718).  Albert N. Kennedy, Esq., and Ava L.
Schoen, Esq., who have offices in Portland, Oregon, assist the
Company in its restructuring effort.  The Company listed
$50,000,001 to $100,000,000 in assets and $50,000,001 to
$100,000,000 in liabilities.


FRANK ALAMPRESE: Case Summary & 18 Largest Unsecured Creditors
--------------------------------------------------------------
Joint Debtors: Frank Bud Alamprese
               Benita Valda Jozers
               7437 Treeline Drive
               Naples, FL 34119

Bankruptcy Case No.: 10-17935

Chapter 11 Petition Date: July 28, 2010

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

Debtor's Counsel: Michael A. Kaufman, Esq.
                  Michael A. Kaufman PA
                  1655 Palm Beach Lakes, Suite 900
                  West Palm Beach, FL 33401
                  Tel: (561) 478-2878
                  Fax: (561) 584-5555
                  E-mail: michael@mkaufmanpa.com

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

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

According to the schedules, the Debtors say that assets total
$692,290 while debts total $9,965,791.

A copy of the Joint Debtors' list of 18 largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/flmb10-17935.pdf

The petition was signed by the Joint Debtors.


FRANK JODZIO: Gets Interim OK on 2nd Plea to Use Cash Collateral
----------------------------------------------------------------
Frank M. Jodzio sought, for the second time, authorization from
the Hon. Louise DeCarl Adler of the U.S. Bankruptcy Court for the
Southern District of California to use cash collateral.

The Court approved the use of cash collateral on an interim basis.
A final hearing is set for August 12, 2010, at 2:30 p.m.

As reported by the TCR on July 15, 2010, the Judge Adler
previously denied the Debtor's request to use cash collateral,
saying that the Debtor listed many mortgage holders not listed on
service list and no explanation was provided on why the list
wasn't served or if served, as successor to which mortgagor.
According to the TCR, the Court found that the Debtor's motion to
use cash collateral failed to disclose that most of the properties
are cash flow negative.  The Debtor, said the Court, didn't appear
to be setting up separated DIP accounts for each property's cash
collateral, nor had it discussed whether any of the money proposed
to be used for maintenance is paid to him for services.  The
Debtor hadn't discussed adequate protection for the lenders, the
Court said.

In its second request for authorization, the Debtor said the
necessity for the use of cash collateral is to maintain the
present value and condition of the properties, keep them insured
and free of tax liens and meet mortgage payments with excess
rental payments, if any.  The Debtor requests approval for the
limited use of cash collateral for:

     a. the payment of insurance;

     b. the payment of any due and owing taxes when they come due;

     c. for maintenance and upkeep of each of the rental
        properties; and

     d. balance of net rents to be paid to each secured creditor
        listed; and

Separate deposit accounts will be maintained for each property.
The Debtor maintains a property management account at California
Bank & Trust, Account No. 2030167191 for payment of all property
expenses.

Other than for the insurance, tax, maintenance, upkeep and any
funds available for monthly mortgage payment, on the property any
net proceeds from rents received will be held in each properties
separate management account and used solely for the expenses
associated with that property.

JP Morgan Chase Bank, NA, and Home Bank of California have filed
objections to the use of cash collateral.

JP Morgan is represented by McCarthy & Holthus, LLP, while Home
Bank is represented by Huffman & Kostas.

San Diego, California-based Frank M. Jodzio is an attorney
licensed to practice law in the State of California and owns and
manages 13 investment properties.  He filed for Chapter 11
bankruptcy protection on July 2, 2010 (Bankr. S.D. Calif. Case No.
10-11788).  Philip J. Giacinti, Jr., Esq., at Procopio Cory
Hargreaves & Savitch, assists the Debtor in his restructuring
effort.  The Debtor listed $10,000,001 to $50,000,000 in assets
and $1,000,001 to $10,000,000 in liabilities.


FRONTIER DRILLING: S&P Raises Corporate Credit Rating From 'CCC'
----------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Frontier Drilling ASA to 'A-' from 'CCC' following the
announcement that Noble Corp. (A-/Stable--) had closed on its
acquisition of FDR Holdings Ltd., Frontier Drilling ASA's parent.
At the same time, S&P removed the ratings from CreditWatch.  S&P
had initially placed the ratings on CreditWatch with developing
implications on Jan. 29, 2010, and subsequently revised the
CreditWatch to positive on June 28, 2010.

S&P has subsequently withdrawn all its ratings on Frontier.  S&P's
ratings on Noble Corp., including the 'A-' corporate credit
rating, remain unchanged.

"The rating action follows the completion of Noble's acquisition
of Frontier, in which Noble will assume $311 million of Frontier
debt associated with the joint venture assets and future capital
obligations connected with the JV assets," said Standard & Poor's
credit analyst Marc Bromberg.  S&P had affirmed its ratings on
Noble on June 28, 2010, when the transaction was announced.

Nobel financed the acquisition of Frontier with proceeds from its
$1.25 billion bond offering on July 21, 2010, and cash on hand,
bringing the total enterprise transaction value to $2.16 billion.


GOSPEL UPTOWN: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Gospel Uptown LLC
        aka Uptown Grant
        2110 Adam Clayton Powell Jr Boulevard
        New York, NY 10027

Bankruptcy Case No.: 10-14080

Chapter 11 Petition Date: July 28, 2010

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

Judge: Allan L. Gropper

Debtor's Counsel: Joseph Fleming, Esq.
                  Joseph Fleming & Associates PC
                  22 Cortlandt Street, 16 Floor
                  New York, NY 10007
                  Tel: (212) 385-8036

Scheduled Assets: $807,000

Scheduled Debts: $1,929,067

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nysb10-14080.pdf

The petition was signed by Joseph H. Holland, managing member.


GREAT ATLANTIC: Files Quarterly Report on Form 10-Q With SEC
------------------------------------------------------------
Great Atlantic & Pacific Tea Company Inc. filed its quarterly
report on Form 10-Q with the Securities and Exchange Commission.

The Company reported a net loss of $122.6 million on $2.5 billion
of sales for the 16 weeks ended June 19, 2010, compared with
$65.1 million net loss on $2.7 billion of sales for the 16 weeks
ended June 20, 2009.

The Company's balance sheet at June 19, 2010, showed $2.6 billion
in total assets, $897.0 million in total current liabilities,
$2.3 billion in total non-current liabilities, and $135.0 million
series A redeemable preferred stock, for a $659.0 million total
stockholders' deficit.
A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?6762

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?671a

                            About A&P

Based in Montvale, New Jersey, The Great Atlantic & Pacific Tea
Company, Inc. (A&P, NYSE Symbol: GAP), founded in 1859, is one of
the nation's first supermarket chains.  The Company operates 429
stores in 8 states and the District of Columbia under the
following trade names: A&P, Waldbaum's, Pathmark, Pathmark Sav-a-
Center, Best Cellars, The Food Emporium, Super Foodmart, Super
Fresh and Food Basics.

At February 27, 2010, the Company had total assets of
$2,827,217,000 against total liabilities of $3,223,663,000 and
Series A redeemable preferred stock of $132,757,000, resulting in
stockholders' deficit of $529,203,000.


GUN LAKE: S&P Assigns 'B' Rating on $165 Mil. Senior Loan
---------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B' issue-
level rating to Dorr, Mich.-based Gun Lake Tribal Gaming
Authority's $165 million senior secured first-lien term loan.

Based on the closing of the transaction and S&P's review of final
documentation, S&P has assigned a 'B' issuer credit rating with a
stable rating outlook.

The Authority will use proceeds from the term loan to repay a
portion of an outstanding development loan and finance ongoing
construction costs of the Gun Lake Casino, located near Grand
Rapids, Mich.

"The 'B' issuer credit rating reflects the vulnerability of new
gaming projects to uncertain demand and difficulties in managing
initial costs," said Standard & Poor's credit analyst Michael
Lister, "often leading to poor profitability in the first several
months of operations." In addition, the Authority's narrow
business position as an operator of a single casino property (once
the Gun Lake Casino opens in early 2011) and competition from
existing gaming operations in the region limit the current rating.
An interest reserve account supporting 14 months of interest
payments on the issuer's senior secured term loan somewhat
mitigates those factors.  S&P expects the reserve to provide
liquidity support during construction and for six months post-
opening.  Other mitigating factors include meaningful construction
progress, with approximately 47% of project costs already spent;
the facility's close proximity to a major population center; and
anticipated adequate pro forma credit measures once the casino
opens.


HARRY STONE: Case Summary & 18 Largest Unsecured Creditors
----------------------------------------------------------
Joint Debtors: Harry Ronald Stone
               Mary Warren Stone
               110 Taylors Creek Lane
               Beaufort, NC 28516

Bankruptcy Case No.: 10-05985

Chapter 11 Petition Date: July 28, 2010

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

Judge: J. Rich Leonard

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

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

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

A list of the Joint Debtors' 18 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/nceb10-05985.pdf

The petition was signed by the Joint Debtors.


HCA INC: Posts $293 Million Net Income for June 30 Quarter
----------------------------------------------------------
HCA Inc. announced financial and operating results for its second
quarter ended June 30, 2010:

   * Revenues increased 3.7% to $7.756 billion, compared to
     $7.483 billion in the second quarter of 2009.  Charity care
     and uninsured discounts, which reduce our reported revenues,
     increased to $1.670 billion in the second quarter compared to
     $1.190 billion in the prior year's second quarter.

   * Net income attributable to HCA Inc. increased 3.4% to
     $293 million, compared to $282 million in the prior year's
     second quarter.

   * Adjusted EBITDA increased 6.5% to $1.490 billion, compared to
     $1.399 billion in the second quarter of 2009.

   * Provision for doubtful accounts declined to $788 million,
     from $866 million in the prior year.

   * Interest expense increased to $530 million, from $506 million
     in the second quarter of 2009.

   * Same facility equivalent admissions increased 1.6%, and same
     facility admissions declined 0.3% in the second quarter
     compared to the second quarter of 2009.

   * Same facility revenue per equivalent admission increased 2.2%
     and reflects the impact of the increased charity care and
     uninsured discounts.  Same facility cash revenue per
     equivalent admission increased 3.7% in the quarter compared
     to the prior year.

   * Total surgeries, on a same facility basis, declined 1.4% from
     the previous year's second quarter.

Revenues in the second quarter of 2010 totaled $7.756 billion,
compared to $7.483 billion in the second quarter of 2009.  Cash
revenues increased 5.3% in the second quarter to $6.968 billion
from $6.617 billion in the same period last year.  Cash revenues
is a non-GAAP measure and reflects the Company's reported revenues
less the provision for doubtful accounts.  Net income attributable
to HCA Inc. for the second quarter of 2010 totaled $293 million,
compared to $282 million in the prior year's second quarter.
Adjusted EBITDA increased by 6.5% to $1.490 billion, compared to
$1.399 billion in the previous year's second quarter.

The Company's provision for doubtful accounts declined to
$788 million, or 10.2% of revenues, in the second quarter of 2010
from $866 million, or 11.6% of revenues, in the second quarter of
2009, primarily due to a $480 million increase in charity care and
uninsured discounts in the second quarter of 2010 compared to the
prior year.

The sum of the provision for doubtful accounts, uninsured
discounts and charity care, as a percentage of the sum of
revenues, uninsured discounts and charity care was 26.1% for the
second quarter of 2010 compared to 23.7% for the second quarter of
2009.  Same facility uninsured admissions increased 2.1% in the
second quarter of 2010 compared to the prior year's second
quarter.  Same facility uninsured admissions comprised 6.8% of
total admissions in the second quarter of 2010 compared to 6.6% in
the second quarter of 2009.

During the second quarter of 2010, salaries and benefits, supplies
and other operating expenses totaled $5.553 billion, or 71.6% of
revenues, compared to $5.279 billion, or 70.5% of revenues, in the
second quarter of 2009.

Interest expense increased to $530 million in the second quarter
of 2010, compared to $506 million in the same period of 2009, due
to small increases in both the average debt balance and the
average effective interest rate on our outstanding debt.

Same facility admissions declined 0.3% and same facility
equivalent admissions increased 1.6% in the second quarter of 2010
compared to the prior year's second quarter.  Same facility
inpatient surgeries declined 2.1% and same facility outpatient
surgeries declined 0.9% in the second quarter of 2010 compared to
the second quarter of 2009.  Same facility revenue per equivalent
admission increased 2.2% in the first quarter of 2010 compared to
the second quarter of 2009 and reflects the impact of the
increased uninsured discounts and charity care, which reduce our
reported revenues.  Same facility cash revenue per equivalent
admission increased 3.7% in the second quarter of 2010 compared to
the second quarter of 2009.

Revenues for the six months ended June 30, 2010 totaled $15.300
billion compared to $14.914 billion for the same period of 2009.
Net income attributable to HCA Inc. was $681 million for the six
months ended June 30, 2010 compared to $642 million in the prior
year.  Adjusted EBITDA totaled $3.064 billion for the first half
of 2010 compared to $2.856 billion for the same period of 2009.

Results for the six months ended June 30, 2010 include impairments
of long-lived assets of $109 million, compared to losses on sales
of facilities of $8 million and impairments of long-lived assets
of $13 million in the first half of 2009.

As of June 30, 2010, HCA's balance sheet reflected cash and cash
equivalents of $350 million, total debt of $26.798 billion, and
total assets of $23.420 billion.  During the second quarter of
2010, capital expenditures totaled $322 million, and the Company
paid a $500 million cash distribution to holders of its common
stock and vested stock options.  Net cash provided by operating
activities totaled $450 million in the second quarter of 2010
compared to $659 million in the prior year.

The $209 million decrease was due primarily to changes in
operating assets and liabilities of $317 million, reflecting
increases in accounts receivable, other receivables and marketable
securities, and declines in accounts payable and accrued interest.

As of June 30, 2010 HCA operated 162 hospitals and 106
freestanding surgery centers.

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?6775

                         About HCA Inc.

Headquartered in Nashville, Tennessee, HCA is the nation's largest
acute care hospital company with 162 hospitals and 106
freestanding surgery centers (including eight hospitals and eight
freestanding surgery centers that are accounted for using the
equity method) as of March 31, 2010.  For the twelve months ended
March 31, 2010, the company recognized revenue in excess of
$30 billion.

According to the Troubled Company Reporter on May 11, 2010,
Standard & Poor's placed its 'B+' corporate credit rating on
hospital giant HCA, Inc., and S&P's ratings on its secured and
unsecured debt on CreditWatch with positive implications.  "The
speculative-grade rating on HCA continues to reflect S&P's view
that the largest U.S. owner and operator of acute health care
facilities is particularly sensitive to reduced capacity
utilization and pricing," said Standard & Poor's credit analyst
David Peknay, "by virtue of the significant debt leverage assumed
in its November 2006 leveraged buyout."

Moody's Investors Service placed the ratings of HCA, Inc.,
including the B2 Corporate Family and Probability of Default
Ratings, under review for possible upgrade.  This rating action
follows the announcement that the company has filed a Form S-1 in
contemplation of an initial public offering.


HYDROGENICS CORP: Posts $1 Million Net Loss in Q2 Ended June 30
---------------------------------------------------------------
Hydrogenics Corporation reported a net loss of $1.0 million on
$2.8 million of revenue for the three months ended June 30, 2010,
compared to a net loss of $6.0 million on $5.5 million of revenue
for the same period of 2009.  The decrease in revenues primarily
reflects lower revenues in the Company's OnSite Generation
business unit.

Loss from operations was $1.4 million for the three months ended
June 30, 2010, a decrease of 72% from the comparable period in
2009 reflecting improved gross profit and reduced operating
expenses.

The Company's order backlog as of June 30, 2010 was $19.1 million.
A a minimum of $15.0 million is anticipated to be delivered in the
second half of 2010.

"While our revenue was negatively affected this period due to some
shipments being pushed out into the third quarter, we once again
posted improved margins and ended the quarter with a solid
backlog," said Daryl Wilson, President and Chief Executive
Officer.  "In addition, we successfully reduced our cash operating
costs by nearly 70% - resulting in an operating loss of
$1.4 million as compared with $5.7 million last year.  We continue
to see a rebound in our end markets and view the second half of
2010 as being an improvement, setting the stage for further growth
in 2011."

The Company posted a net loss of $4.6 million on $9.5 million of
revenue for the six months ended June 30, 2010, compared to a net
loss of $10.0 million on $11.1 million of revenue for the same
period of 2009.  The decrease in revenues reflects lower revenues
in both the OnSite Generation and Power Systems business units.

A full-text copy of the press release is available for free at:

               http://researcharchives.com/t/s?6781

A full-text copy of the Second Quarter 2010 Management's
Discussion and Analysis of Financial Condition and Results of
Operations is available for free at
http://researcharchives.com/t/s?6782

A full-text copy of the Second Quarter 2010 Interim Consolidated
Financial Statements and Results of Operations is available for
free at http://researcharchives.com/t/s?6783

                  About Hydrogenics Corporation

Hydrogenics Corporation (NASDAQ: HYGS; TSX: HYG)
- http://www.hydrogenics.com/-  is a developer and provider of
hydrogen generation and fuel cell products and services, serving
the industrial and clean energy markets.  Based in Mississauga,
Ontario, Canada, Hydrogenics has operations in North America and
Europe.


I/OMAGIC CORPORATION: Posts $182,800 Net Loss in June 30 Quarter
----------------------------------------------------------------
I/OMagic Corporation filed its quarterly report on Form 10-Q,
reporting a net loss of $182,781 on $1,336,249 of revenue for the
three months ended June 30, 2010, compared with net income of
$257,218 on $3,200,832 of revenue for the same period of 2009.

The Company's balance sheet at June 30, 2010, showed $2,480,857 in
assets and $4,480,266 of liabilities, for a stockholders' deficit
of $1,999,409.

As reported in the Troubled Company Reporter on March 22, 2010,
Simon & Edward, LLP, in City of Industry, Calif., expressed
substantial doubt about the Company's ability to continue as a
going concern after auditing the Company's financial statements
for the year ended December 31, 2009.  The independent auditors
noted that of the Company's significant operating losses, serious
liquidity concerns and need for additional financing in the
foreseeable future.

As of the date of filing of this report, the Company had serious
liquidity concerns and may require additional financing in the
foreseeable future.  The Company presently may not have sufficient
capital to fund its operations for the next twelve months or less.

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

               http://researcharchives.com/t/s?677d

Irvine, Calif.-based I/OMagic Corporation sells data storage
products and other consumer electronics products.  Data storage
products collectively accounted for roughly 99% of net sales for
the first six months of 2010.  Data storage products consist of a
range of products that store traditional personal computer data as
well as movies, music, photos, video games and other multi-media
content.  Other consumer electronics products consist of a range
of products that focus on digital movies, music and photos.

The Company sells its products through computer, consumer
electronics and office supply superstores, wholesale clubs,
distributors, and other major North American retailers.


ILS GRAND: Case Summary & 8 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: ILS Grand, LLC
        187-203 East 7th Street
        Paterson, NJ 07524

Bankruptcy Case No.: 10-33002

Chapter 11 Petition Date: July 28, 2010

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

Judge: Donald H. Steckroth

Debtor's Counsel: Elton J. Bozanian, Esq.
                  115 Broad Ave
                  Palisades Park, NJ 07650
                  Tel: (201) 947-8777
                  E-mail: staff@bozanianlaw.com

Scheduled Assets: $1,569,343

Scheduled Debts: $1,884,455

A list of the Company's 8 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/njb10-33002.pdf

The petition was signed by Yung Bae Kim, managing member.


JAY HINE: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Jay M. Hine
          dba Woodruff Place Preservation
              Ridgelands Investors
              Jay's Bays
              Tuxedo Junction
              Haute Garonne
              Sheldrake Holdings
              Investments Unlimited
              S & H Campground
              Morris
              Rock Paper & Scissors
              Delaware Strreet Development
              Hine Homes
              Twenty Main
              Greenfield Investments
              Buschmann Grain Lofts
        Kimberlee R. Hine
          fka Kimberlee R. Smith
        P.O. Box 561
        Greenfield, IN 46140

Bankruptcy Case No.: 10-11257

Chapter 11 Petition Date: July 28, 2010

Court: U.S. Bankruptcy Court
       Southern District of Indiana (Indianapolis)

Judge: James K. Coachys

Debtor's Counsel: Michael J. Hebenstreit, Esq.
                  Whitham Hebenstreit & Zubek, LLP
                  151 N Delaware Street, Suite 2000
                  Indianapolis, IN 46204
                  Tel: (317) 638-5555
                  E-mail: mjh@whzlaw.com

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

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

According to the schedules, the Debtors say that assets total
$2,377,645 while debts total $15,500,868.

A copy of the Joint Debtors' list of 20 largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/insb10-11257.pdf

The petition was signed by the Joint Debtors.


JERRY STONE: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Joint Debtors: Jerry Franklin Stone
               Caroline Shepherd Stone
               112 Taylors Creek Lane
               Beaufort, NC 28516

Bankruptcy Case No.: 10-05987

Chapter 11 Petition Date: July 28, 2010

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

Judge: J. Rich Leonard

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

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

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

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nceb10-05987.pdf

The petition was signed by the Joint Debtors.


JOHN WOODBURN: Case Summary & 19 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: John M. Woodburn
        2050 East Mountain Street
        Pasadena, CA 91104

Bankruptcy Case No.: 10-41251

Chapter 11 Petition Date: July 28, 2010

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

Judge: Alan M. Ahart

Debtor's Counsel: Sylvia Ho, Esq.
                  Law Offices of David A Tilem
                  206 N Jackson Street, Suite 201
                  Glendale, CA 91206
                  Tel: (818) 507-6000
                  Fax: (818) 507-6800
                  E-mail: SylviaHo@TilemLaw.com

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

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

According to the schedules, the Debtor says that assets total
$737,502 while debts total $1,345,457.

A copy of the Debtor's list of 19 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/cacb10-41251.pdf

The petition was signed by the Debtor.


JONATHAN LEDESMA: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Jonathan David Ledesma
        10 Camel Point
        Laguna Beach, CA 92651

Bankruptcy Case No.: 10-20362

Chapter 11 Petition Date: July 28, 2010

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

Judge: Erithe A. Smith

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

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

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

A copy of the Debtor's list of 20 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/cacb10-20362.pdf

The petition was signed by the Debtor.

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                            Case No.   Petition Date
        ------                            --------   -------------
Beverly Hills Dermatology Center Inc.     10-19227        07/06/10
A Medical Corporation

California Dermatology Center, Inc.       10-19216        07/06/10
A Medical Corporation

Corona Dermatology Center, Inc.           10-19210        07/06/10
A Medical Corporation

Covina Dermatology Center, Inc.           10-19223        07/06/10
A Medical Corporation

Diamond Bar Dermatology Center, Inc.      10-19230        07/06/10
A Medical Corporation

Garden Grove Dermatology Center, Inc.     10-19195        07/06/10
A Medical Corporation


JOSEPH DELGRECO: DLA Piper Malpractice Suit Moved to Bankr. Court
-----------------------------------------------------------------
Bankruptcy Law360 reports that a $17 million malpractice lawsuit
Joseph DelGreco & Co. Inc. filed against DLA Piper over a botched
international brand licensing deal has been shipped from New York
state court to a federal bankruptcy docket.

The textile and furniture seller's suit was transferred to the
U.S. Bankruptcy Court for the Southern District of New York on
Wednesday after DelGreco removed the case to federal court,
according to Law360.

Based in New York, Joseph DelGreco & Company Inc. filed for
Chapter 11 Protection on Oct. 8, 2009 (Bankr. Case No.09-16041).
Joel Martin Shafferman, Esq., at Shafferman & Feldman, LLP,
represents the company.  The Debtor listed assets of less than
$50,000 and debts of between $1 million and $10 million.


KEARNEY CONSTRUCTION: Court Directs Indemnitors to Post Collateral
------------------------------------------------------------------
In Kearney Construction Company, LLC, v. Travelers Casualty and
Surety Company of America, et al., Case No. 09-cv-1850 (M.D. Fla.,
Tampa Division July 15, 2010), James S. Moody Jr. granted
Travelers' Motion and Memorandum of Law to Require Specific
Performance of the Collateral Security Deposit Provisions and
Books and Records Provision of the General Agreement of Indemnity,
to the extent that the indemnitors will post $3.5 million in
collateral with the Registry of the Court.

Travelers is a surety company that issues payment and performance
bonds and stands as surety for selected contractors.  To induce
Travelers to issue bonds, on various dates, Kearney Construction
Company, LLC, Bing Charles W. Kearney, Brian W. Seeger, Jr., Alan
Payne, Florida Trucking Co., Inc., Florida Equipment Co., LLC,
Kearney Construction Company, Inc., AVT Equipment, LLC, Kearney
Development Company, Inc., K&S Equipment Company, Inc., Florida
Soil Cement, LLC, and Florida Fuel Transporters, LLC as
Indemnitors, executed a General Agreement of Indemnity and/or
Additional Indemnitor and Limited Liability Riders to the GAI in
favor of Travelers.

The Court rules that unless and until the Indemnitors place good
and sufficient collateral security with the Clerk of the Court in
this amount, they will not sell, transfer, alienate or encumber
any property.  The Court order does not prohibit K&S, Florida
Soil, Kearney Development, and Florida Fuel from paying expenses
incurred for full value in the ordinary course of business.  The
Order also does not prohibit Bing Kearney, Seeger, and Payne from
expending funds for ordinary living expenses.

The Clerk of the Clerk will place the funds into a special
interest-bearing account.

Kearney LLC, Florida Trucking, Florida Equipment, Kearney
Construction, and AVT filed separate Chapter 11 proceedings in the
U.S. Bankruptcy Court in the Middle District of Florida.
Travelers claims that it faces irreparable damage in the event the
Indemnitors fail to satisfy their indemnity obligations in light
of the bankruptcy proceedings.

A copy of the decision is available at:

http://www.leagle.com/unsecure/page.htm?shortname=infdco20100715c4
4


K-V PHARMACEUTICAL: Gets Non-Compliance Notice From NYSE
--------------------------------------------------------
K-V Pharmaceutical Company received notification from the New York
Stock Exchange on July 27, 2010, of non-compliance regarding the
Company's quantitative continued listing standards.  The NYSE
informed the Company that its Class A Common Stock equity issue
has fallen below criteria for the average closing price of a NYSE
security of not less than $1.00 over a consecutive 30-trading day
period.  This notification pertains to the Class A Common Stock
but also affects the Class B Common Stock.  The NYSE advised the
Company that it is required to bring the Class A share price and
average share price back above $1.00 within six months of
receiving the notification of non-compliance in order to avoid the
commencement of suspension and delisting procedures for its common
shares.  The Company could cure the non-compliance sooner than the
end of the six-month period if the trading price of its Class A
Common Stock is at least $1.00 per share on the last trading day
of a calendar month within the six-month period and the average
share price over the 30-trading days preceding the end of that
month is at least $1.00 per share.  The NYSE advised the Company
that the first such month-end assessment will take place beginning
July 31, 2010.  The Class A Common Stock has recently begun to
trade at levels above $1.00, with a closing price of $1.07 on
July 30, 2010.  The 30-day average of the Class A Common Stock on
the last trading day of July did not, however, meet the NYSE 30-
day average requirement of trading above $1.00 as of that date.

The Company will furnish to the NYSE on or prior to August 10,
2010, a response affirming its intent to cure this deficiency and
outlining the steps it is currently taking and plans to undertake
in the near term to restore compliance with the NYSE's continued
listing standards.

These steps include ongoing efforts to complete the process of
obtaining FDA inspection and approval for products to be
manufactured and marketed by the Company, return to current filer
status with the U.S. Securities and Exchange Commission, secure
financing, divest assets and, subject to FDA approval, prepare for
the launch of Gestiva(TM).  With regards to the Company's delayed
March 31, 2010 Form 10-K, the Company had been subject to NYSE
procedures for late filers, as previously disclosed on July 8,
2010.

The Company's common stock will continue to be listed on the NYSE
during this interim period, subject to ongoing reassessment and
compliance with other NYSE requirements.

                    About K-V Pharmaceutical

Bridgeton, Missouri-based K-V Pharmaceutical Company (NYSE:
Kva/KVb) -- http://www.kvpharmaceutical.com/-- is a fully
integrated specialty pharmaceutical company that develops,
manufactures, markets, and acquires technology-distinguished
branded prescription pharmaceutical products.  The Company markets
its technology-distinguished products through Ther-Rx Corporation,
its branded drug subsidiary.

The Company's balance sheet at December 31, 2009, showed
$584.5 million in assets, $440.9 million of liabilities, and
$143.6 million of shareholders' equity.


KIM LAUBE: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Kim Laube & Company Incorporated
        2221 Statham Boulevard
        Oxnard, CA 93033

Bankruptcy Case No.: 10-13936

Chapter 11 Petition Date: July 29, 2010

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

Judge: Robin Riblet

Debtor's Counsel: William E. Winfield, Esq.
                  1000 Town Center Drive, 6th Floor
                  Oxnard, CA 93036
                  Tel: (805) 485-1000
                  E-mail: wwinfield@nchc.com

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

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

According to the schedules, the Company says that assets total
$5,485,706 while debts total $425,261.

A copy of the Company's list of 20 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/cacb10-13936.pdf

The petition was signed by Kim Laube, president.


KOLORFUSION INTERNATIONAL: Files for Chapter 11 Reorganization
--------------------------------------------------------------
Kolorfusion International, Inc., filed for voluntary Chapter 11
bankruptcy reorganization in the District of Colorado.  The
Company intends to, with Court approval, continue to conduct its
business as usual without interruption.  The Company expects that
it will continue to operate its business as a "debtor-in-
possession" under the jurisdiction of the United States Bankruptcy
Court for the District of Colorado and in accordance with the
applicable provisions of the Bankruptcy Code.  The Company's
bankruptcy attorney is Bonnie Bell Bond, Esquire, Law Office of
Bonnie Bell Bond, LLC, Greenwood Village, Colorado.

             About Kolorfusion International

The Company owns, develops and markets a system for transferring
color patterns to metal, wood, glass and plastic products.
"Kolorfusion" is a process that allows the transfer of colors and
patterns into coated metal, wood and glass and directly into
plastic surfaces of virtually any shape or size.  The creation of
a pattern to be a part of a product's surface is designed to
enhance consumer appeal, create demand for mature products,
achieve product differentiation and customization and as a
promotional vehicle.


LEGACY HOUSE: Case Summary & 11 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Legacy House Post Falls, LLC
        dba Legacy House Assisted Living
        22950 E Valley Way
        Liberty Lake, WA 99019

Bankruptcy Case No.: 10-20987

Chapter 11 Petition Date: July 28, 2010

Court: United States Bankruptcy Court
       District of Idaho (Coeur dAlene)

Judge: Terry L. Myers

Debtor's Counsel: Stephen Brian McCrea, Esq.
                  P.O. Box 1501
                  Coeur d'Alene, ID 83816-1501
                  Tel: (208) 666-2594
                  E-mail: mccreaecf@cda.twcbc.com

Scheduled Assets: $4,043,380

Scheduled Debts: $3,797,815

A list of the Company's 11 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/idb10-20987.pdf

The petition was signed by Ruby Stoker, manager.


LEHMAN BROTHERS: Wachovia Ducks Claims in $15-Mil. Loss Suit
------------------------------------------------------------
Bankruptcy Law360 reports that a federal judge has tossed state
law claims in a Florida city's breach of contract suit alleging
Wachovia Bank NA cost it $15 million by failing to warn it of
Lehman Brothers Holdings Inc.'s imminent demise.

                      About Lehman Brothers

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

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

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

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

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

              International Operations Collapse

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

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

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


LEVERTON INVESTMENTS: Case Summary & 6 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Leverton Investments Limited Partnership
        Rt. 1, Box 90
        Tolleson, AZ 85353

Bankruptcy Case No.: 10-23771

Chapter 11 Petition Date: July 29, 2010

Court: U.S. Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Eileen W. Hollowell

Debtor's Counsel: Patrick A. Clisham, Esq.
                  E-mail: pac@engelmanberger.com
                  Scott B. Cohen, Esq.
                  E-mail: sbc@engelmanberger.com
                  Engelman Berger PC
                  3636 N Central Avenue, Suite 700
                  Phoenix, AZ 85012
                  Tel: (602) 271-9090
                  Fax: (602) 222-4999

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

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

Debtor-affiliate that filed for Chapter 11:

                                                     Petition
  Debtor                                  Case No.     Date
  ------                                  --------     ----
Leverton Properties L.L.C.               10-23774    7/29/10
  Assets: $1,000,001 to $10,000,000
  Debts: $1,000,001 to $10,000,000

A copy of Leverton Investments Limited Partnership's list of 6
largest unsecured creditors filed together with the petition is
available for free at http://bankrupt.com/misc/azb10-23771.pdf

A copy of Leverton Properties' list of 6 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/azb10-23774.pdf

The petitions were signed by Walter Ammon, designated
representative.


LIBBEY INC: Posts $9.6 Million Net Income for 2nd Quarter 2010
--------------------------------------------------------------
Libbey Inc.'s balance sheet at June 30, 2010, showed $794.1
million in total assets and $805.8 million total liabilities, for
a stockholder's deficit of $11.6 million.

Libbey reported net income of $9.6 million, or $0.47 per diluted
share, for the second quarter ended June 30, 2010, compared to net
income of $2.7 million, or $0.18 per diluted share, in the prior-
year quarter.

For the quarter-ended June 30, 2010, sales were $203.0 million,
compared to $195.8 million in the year-ago quarter.

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?676f

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?677e

                        About Libbey Inc.

Based in Toledo, Ohio, since 1888, Libbey, Inc., operates glass
tableware manufacturing plants in the United States in Louisiana
and Ohio, as well as in Mexico, China, Portugal and the
Netherlands.  Libbey supplies tabletop products to foodservice,
retail, industrial and business-to-business customers in over 100
countries.

                           *    *    *

According to the Troubled Company Reporter on Feb. 1, 2010,
Standard & Poor's Ratings Services said that it affirmed its "B"
corporate credit rating on Libbey Inc.  The outlook is stable.

In November, the TCR reported that Standard & Poor's lowered its
corporate credit rating on Libbey Inc. to 'SD' (selective default)
from 'B'.  The issue-level ratings remained on CreditWatch, where
S&P had placed them on June 11, 2009, following S&P's concerns
about the difficult operating environment facing Libbey, increased
leverage, and its ability to improve credit metrics.

In January 2010, Libbey's wholly owned subsidiary Libbey Glass
Inc. commenced a cash tender offer to purchase its outstanding
$306.0 million aggregate principal amount of Floating Rate Senior
Secured Notes due 2011.  The Tender Offer is scheduled to expire
February 22, 2010.  Holders who validly tender (and do not validly
withdraw) Notes and deliver their Consents at or prior to the
Consent Date will receive total consideration of $1,027.50 per
$1,000 principal amount of Notes, which includes $30 cash premium
per $1,000 if tendered early.


LNR PROPERTY: S&P Changes Counterparty Credit Ratings to 'SD'
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it changed its long-
term counterparty credit ratings on LNR Property Holdings Ltd. and
LNR Property Corp., first to 'SD' from 'CCC', and then to 'B-'
from 'SD'.

At the same time, S&P raised its rating on the company's term loan
to 'B-', the same as the corporate credit rating on the company.

S&P has also withdrawn its outstanding preliminary rating on LNR's
canceled, new term loan.

The outlook is stable.

"LNR's debt reorganization has substantially improved the
company's leverage and liquidity metrics, in S&P's view," said
Standard & Poor's credit analyst Adom Rosengarten.  "It also gives
the company a larger cushion under the total leverage covenant
affiliated with its remaining outstanding debt."

The company used balance sheet cash and $417 million from a new
equity issuance to pay down its existing term loan to $425 million
from $851 million.  It also eliminated $450 million of senior
notes that had been issued by LNR's parent company.  S&P's rating
upgrade to 'B-' reflects this improvement.

S&P believes that, with the paydown, LNR should be able to
maintain a substantial cushion under its total leverage covenant,
which recently tightened to 3.5x from 4.5x.

The rating remains constricted by the refinancing risk of the
company's remaining debt, which matures in July 2011.  The rating
could further improve with a substantial paydown or refinancing of
this debt, lengthening its maturity, and stronger cash flow from
the company's servicing group, which currently holds a substantial
amount of assets.

"The initial ratings change to 'SD' (selective default) reflected
the final terms of the equitization of LNR's holding-company
subordinated notes, in which some of the noteholders did not
receive full value," Mr. Rosengarten added.  "In accordance with
S&P's criteria, S&P deem this transaction a distressed exchange."

S&P's 'SD' counterparty credit rating on the company reflected
this distressed exchange before S&P raised it to a
postreorganization rating of 'B-'.


MARBELLA FOOD: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Marbella Food LLC
        12005 SW 117 Avenue
        Miami, FL 33186

Bankruptcy Case No.: 10-32094

Chapter 11 Petition Date: July 29, 2010

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

Judge: A. Jay Cristol

Debtor's Counsel: Geoffrey S. Aaronson, Esq.
                  100 SE 2nd Street, 27th Floor
                  Miami, FL 33131
                  Tel: (786) 594-3000
                  Fax: (305) 675-3880
                  E-mail: gaaronson@aaronsonpa.com

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

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

A copy of the Company's list of 20 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/flsb10-32094.pdf

The petition was signed by Angelo G. Rodriguez, manager.


MARC BARNES: Files for Bankruptcy to Ward Off Foreclosure
---------------------------------------------------------
Jacqueline Palank at Dow Jones Daily Bankruptcy Review reports
that Marc S. Barnes and his Love and the Park at 14th in
Washington D.C. filed Chapter 11 petitions last week to ward off
their creditors and ensure the pending sale of Love, a four-story
mega club, goes off without a hitch.

"By the filing, [Love] sought to protect its real estate holding,
which consists of a parcel of commercial property, currently the
subject of a contract of sale," said bankruptcy attorney Kim Y.
Johnson, Esq., in court papers, according to the report.  "The
debtor has several secured and unsecured creditors who prior to
the petition date were unwilling to work with the debtor to modify
the loans in order to allow for the closing of the aforementioned
sale."

In its Chapter 11 petition, Park said it has up to $50,000 in
assets and between $1 million and $10 million in debts.  Both Mr.
Barnes and Love reported assets and debts each in the range of $1
million to $10 million.  Mr. Barnes' creditors include Citi Cards,
Countrywide Homes Loans, GMAC Mortgage, Honda Finance Exchange
Inc., the Internal Revenue Service and Saks Fifth Avenue.


MCCLATCHY COMPANY: Posts $7.3 Million Net Income for 2nd Qtr 2010
-----------------------------------------------------------------
The McClatchy Company reported net income in the second quarter of
2010 of $7.3 million, or 9 cents per share.  Adjusted earnings in
the second quarter of 2010, excluding several unusual items, were
$8.6 million, or 10 cents per share.

The Company's earnings from continuing operations in the second
quarter of 2009 were $42.0 million, or 50 cents per share.
Adjusted earnings from continuing operations in the second quarter
of 2009, excluding several unusual items, were $25.2 million, or
30 cents per share.  Total net income including discontinued
operations was $42.2 million, or 50 cents per share.

Revenues in the second quarter of 2010 were $342.0 million, down
6.4% from revenues of $365.3 million in the second quarter of
2009.  Advertising revenues were $260.5 million, down 8.2% from
2009, and circulation revenues were $67.7 million, down 2.4%.

Second quarter 2010 cash operating expenses, excluding severance
costs, declined $24.8 million, or 9.1%, from the 2009 second
quarter. As a result, operating cash flow, a non-GAAP measure, was
$93.9 million, up 1.6% from the second quarter of 2009.

Commenting on McClatchy's second quarter results, Gary Pruitt,
chairman and chief executive officer, said, "Advertising revenue
trends continued to improve as we anticipated.  Advertising
revenues declined year-over-year by 8.2% compared to declines of
11.2% in the first quarter of 2010 and 20.5% in the fourth quarter
of 2009.  We were also encouraged by the improving trends within
the quarter: advertising revenues were down 10.2% in April, down
7.3% in May and down 6.4% in June.

"We continue to see signs of recovery. Notably, employment
advertising, more than half of which is now online, was up 1.5% in
May and 0.8% in June.  In fact, May 2010 was the first month with
growth in employment advertising revenue in four years.

"We also reported growth in both national and total classified
advertising in several of our markets for the quarter. So while
the economic recovery hasn't been robust or smooth, we believe it
is beginning to spread across the markets we serve.

"In addition to improving revenue trends, our second-quarter
results reflect our hard work in permanently reducing our
expenses.  While we have concluded the major restructuring plans
carried out in 2009, we still held cash expenses down 9.1% below
the second quarter of 2009 and operating cash flow was up $1.5
million.  Through the first six months of the year our operating
cash flow grew $40.2 million, or 29.6%, to $175.8 million.

"As we look to the third quarter we expect continued improvement
in advertising revenue trends.  So far in July ad revenue trends
are in the same range as June and we expect ad revenues to be down
in the mid-single digits for all of the third quarter.  We expect
to reduce cash expenses in the third quarter in the low-single
digits despite the impact of higher newsprint prices and having
rolled over our major restructuring actions in 2009. As a result,
we continue to believe we are on track to maintain, if not grow,
operating cash flow in 2010."

Pat Talamantes, McClatchy's chief financial officer, said, "We
were able to extend a majority of our debt maturities to 2017 with
our debt refinancing in February this year, and we have continued
to reduce our debt. We've repaid more than $113 million in debt in
the first six months of 2010, and debt principal at the end of
June was $1.836 billion.  Our maturities through 2013 consist of
only $35.7 million due in mid 2011 and $43.5 million due in mid
2013.

"Our leverage profile also continued to improve. McClatchy's
leverage ratio declined for the fifth consecutive quarter, ending
the second quarter at 4.43 times cash flow, down from 4.65 times
cash flow at the end of the first quarter.  Our interest coverage
ratio was 3.0 times cash flow at the end of the second quarter.
Both of these measurements are well within our bank covenants."

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?6763

                          About McClatchy

The McClatchy Company is the third largest newspaper company in
the United States, publishing 30 daily newspapers, 43 non-dailies,
and direct marketing and direct mail operations. McClatchy also
operates leading local websites in each of its markets which
extend its audience reach. The websites offer users comprehensive
news and information, advertising, e-commerce and other services.
Together with its newspapers and direct marketing products, these
interactive operations make McClatchy the leading local media
company in each of its premium high growth markets. McClatchy-
owned newspapers include The Miami Herald, The Sacramento Bee, the
Fort Worth Star-Telegram, The Kansas City Star, The Charlotte
Observer, and The News & Observer (Raleigh).

                       *     *     *

The Troubled Company Reporter said on Feb. 15, 2010, Moody's
Investors Service upgraded The McClatchy Company's Corporate
Family Rating to Caa1 from Caa2, Probability of Default Rating to
Caa1 from Caa2, and senior unsecured and unguaranteed note ratings
to Caa2 from Caa3, concluding the review for upgrade initiated on
January 27, 2010.  The upgrades reflect McClatchy's improved
liquidity position and reduced near-term default risk following
completion of the company's refinancing, and its ability to
stabilize EBITDA performance through significant cost reductions.
The rating outlook is stable.

As reported by the TCR on January 14, 2010, Fitch Ratings placed
McClatchy's Issuer Default Rating of 'C' on Watch Positive.
Approximately $2 billion of debt is affected by Fitch's action.

The TCR on July 2, 2009, said Standard & Poor's Ratings Services
raised its corporate credit rating on McClatchy to 'CC' from 'SD'
(selective default).  The rating outlook is negative.  At the same
time, S&P raised its issue-level rating on each of McClatchy's
senior unsecured notes originally issued by Knight Ridder Inc. to
'C' from 'D'.  All other outstanding ratings on the company were
affirmed.


MESA AIR: Court Approves Settlement with UAL
--------------------------------------------
Judge Martin Glenn of the United States Bankruptcy Court for the
Southern District of New York approved the Settlement Agreement
and Release between Mesa Air Group, Inc., and United Air Lines,
Inc., whereby Mesa, among other things, waives and releases any
rights that it had or has to deliver to United any replacement
RJ-70s that are not already in the United Express service, and
any claims for damages or other relief it has or may have had for
related damages.

Pursuant to the Settlement Agreement, United agrees that the
claims in the complaint it filed against Mesa in the United
States District Court for the Northern District of Illinois
captioned "United Air Lines, Inc. v. Mesa Air Group, Inc.," Case
No. 1:09-CV-07352, do not constitute a default under the United
Express Agreement and the resolution herein cures any such
default that might have resulted from the actions that gave rise
to the Federal Court Proceeding.  Further, the claims in the
Federal Court Proceeding that are resolved herein will have no
effect on Mesa's right to assume the United Express Agreement
pursuant to Section 365 of the Bankruptcy Code in its Chapter 11
cases pending in the Bankruptcy Court.

                     About Mesa Air Group

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

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

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

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


MESA AIR: Files Omnibus Objections to Assume, Reject Leases
-----------------------------------------------------------
Mesa Air Group Inc. and certain of its subsidiaries and
affiliates, as debtors and debtors-in-possession, have filed
motions asking the United States Bankruptcy Court for the Southern
District of New York for authority to assume and reject unexpired
leases of non-residential real property.

In the first omnibus motion for assumption of leases, the
Debtors have identified 95 leases to assume effective August 3,
2010.   A list of assumed leases is available for free at:

   http://bankrupt.com/misc/Mesa_AmSked1stOmniAssLeases072810.pdf

In the second omnibus motion, the Debtors identified 36 unexpired
leases of nonresidential real property.  A schedule of the leases
is available at no charge at:

   http://bankrupt.com/misc/Mesa_2ndOmniMotnAssLeases072010.pdf

In the first omnibus objection to reject unexpired leases, the
Debtors identified 17 unexpired leases and subleases to reject.
The unexpired leases relate to, among other things, office space,
storage space and points of presence in airports and other
locations.  A list of the leases is available at:

   http://bankrupt.com/misc/Mesa_2ndAmSked1stRejLease072810.pdf

                     About Mesa Air Group

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

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

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

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


MESA AIR: Wants Plan Exclusivity Until December 1
-------------------------------------------------
Mesa Air Group, Inc., and certain of its subsidiaries and
affiliates, as debtors and debtors in possession, ask Judge
Martin Glenn of the U.S. Bankruptcy Court for the Southern
District of New York to extend by 90 days, through and including
(i) December 1, 2010, the period under Section 1121(b) of the
Bankruptcy Code during which they have the exclusive right to
file a Chapter 11 plan, and (ii) February 1, 2011, the period
under Section 1121(c)(3) of the Bankruptcy Code during which they
have the exclusive right to solicit acceptances of a Chapter 11
plan.

According to John W. Lucas, Esq., at Pachulski Stang Ziehl &
Jones LLP, in New York, the Debtors have made substantial
progress towards a successful reorganization of the company and
their ultimate emergence from Chapter 11.  He notes that the
Debtors had three principal goals at the outset of these cases:

  (a) shed excess aircraft and aircraft equipment;

  (b) restructure aircraft agreements for their remaining fleet;
      and

  (c) renegotiate and extend their code-share agreements.

As of July 28, 2010, the Debtors have rejected or abandoned 76
aircraft and seven aircraft engines that were no longer necessary
for their business plan.  The Debtors have identified the
aircraft and aircraft engines needed for ongoing operations and
have either negotiated or are well into the process of
negotiating modifications to the underlying leases or security
documents, Mr. Lucas informs the Court.

The Debtors and US Airways, Inc. are discussing an extension and
restructuring of the code-share agreement that governs their
current relationship, Mr. Lucas relates.  The Debtors have also
begun negotiations with Official Committee of Unsecured Creditors
over the terms of a plan of reorganization.  Accordingly,
additional time is necessary to complete these negotiations, Mr.
Lucas tells the Court.

                        About Mesa Air Group

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

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

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

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


MIDDLEBROOK PHARMACEUTICALS: Completes Sale of All Assets
---------------------------------------------------------
MiddleBrook Pharmaceuticals, Inc., completed the previously
announced sale of substantially all of its assets to Victory
Pharma, Inc. on July 30, 2010 in a sale conducted under the
provisions of Section 363 of the U.S. Bankruptcy Code and approved
by the United States Bankruptcy Court for the District of Delaware
on July 28, 2010.

The aggregate consideration received by MiddleBrook was comprised
of approximately $17.3 million in cash plus the assumption of
certain trade sales and other product-related liabilities by
Victory. MiddleBrook anticipates that, after it files a Chapter 11
Plan of Liquidation with the Bankruptcy Court, the net proceeds of
the 363 Sale will first be used to satisfy in full the claims of
the Company's creditors.  Although MiddleBrook anticipates
distributing any remaining proceeds of the 363 Sale to the
Company's common stockholders, the Company can offer no assurance
that any amounts will be available for such distribution.

Gleacher & Company acted as exclusive Financial Advisor to
MiddleBrook in connection with the restructuring and sale process.
Alston & Bird LLP acted a counsel to MiddleBrook in the 363 Sale.

                 About MiddleBrook Pharmaceuticals

Westlake, Texas-based Middlebrook Pharmaceuticals, Inc., aka
Advancis Pharmaceuticals Corporation, is a pharmaceutical company
focused on commercializing anti-infective products that fulfill
unmet medical needs.  MiddleBrook's proprietary delivery
technology, PULSYS, enables the pulsatile delivery, or delivery in
rapid bursts, of certain drugs.  MiddleBrook currently markets
MOXATAG, the first and only FDA-approved once-daily amoxicillin,
and KEFLEX, the immediate-release brand of cephalexin.

The Company filed for Chapter 11 bankruptcy protection on
April 30, 2010 (Bankr. D. Del. Case No. 10-11485).  Joel A. Waite,
Esq., at Young, Conaway, Stargatt & Taylor, assists the Company in
its restructuring effort.  The Company estimated its assets and
debts at $10,000,001 to $50,000,000.


MINISTER INSURANCE: U.S. Recognition Hearing Set for Aug. 27
------------------------------------------------------------
James Lee Saitch, in his capacity as the foreign representative of
Minister Insurance Company Limited and Malvern Insurance Company
Limited, will ask the Honorable Allan L. Gropper at a hearing at
10:00 a.m. on Aug. 27, 2010, to enter an order granting
recognition of the Companies' proceedings currently pending before
the High Court of Justice of England and Wales in the United
Kingdom as a foreign main proceeding and entering a permanent
injunction under chapter 15 of the U.S. Bankruptcy Code.

Objections, if any, must be filed no later than 4:00 p.m. on
Aug. 23, 2010, and served on the Petitioner's Counsel:

         Gary S. Lee, Esq.
         Kathleen E. Schaaf, Esq.
         MORRISON & FORESTER LLP
         1290 Avenue of the Americas
         New York, NY 10104
         E-mail: glee@mofo.com
                 kschaaf@mofo.com

As reported in the Troubled Company Reporter on July 22, 2010, the
Foreign Representative for Minister Insurance Company Limited and
Malvern Insurance Company Limited filed chapter 15 petitions
(Bankr. S.D.N.Y. Case Nos. 10-13899 and 10-13900) on July 19,
2010.   The Insurers estimate their assets and debts at more than
$100 million.


MYLAN INC: S&P Affirms 'BB-' Rating on Senior Unsecured Notes
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'BB-'
issue-level and '5' recovery ratings on Mylan Inc.'s 7.875% senior
unsecured notes due 2020, privately placed compliant with Rule
144A,following the company's $300 million add-on.  Mylan has
increased it outstanding $700 million 7.875% senior unsecured
notes due 2020 to $1 billion.  These notes are an add-on to those
placed in May 2010 and will have terms identical to those earlier
notes.  These notes will form a portion of the financing for the
$550 million acquisition of Bioniche Holdings Limited.  S&P's
corporate credit rating on Mylan is 'BB'; its rating outlook is
stable.

The ratings on Canonsburg, Penn.-based generic pharmaceutical
company Mylan Inc. reflect the company's still-significant debt
burden incurred to fund the acquisition of Merck KGaA's largely
European generic drug business and over $3.0 billion in debt
maturities through 2014.  Mylan's position as the No. 3 company in
the growing generics market, where size and geographic reach are
increasingly important competitive factors, partly offsets those
factors.  Also, S&P believes debt will continue to decline, given
Mylan's increasing cash generation.  S&P believes this
deleveraging and continued solid operational performance will
facilitate any refinancing needed to address the upcoming
maturities.

                           Ratings List

                             Mylan Inc.

    Corporate Credit Rating                      BB/Stable/--

                         Ratings Affirmed

         Senior Unsecured
         $1 bil 7.875% sr nts due 2020                BB-
            Recovery Rating                           5


NEENAH ENTERPRISES: GE Capital Served Agent for Exit Financing
--------------------------------------------------------------
GE Capital, Restructuring Finance announced it is co-collateral
agent in a $100 million plan of reorganization credit facility to
Neenah Enterprises, Inc., one of the largest independent foundry
companies in the U.S. The loan supports the company's pre-packaged
exit from bankruptcy protection.  GE Capital Markets served as
joint lead arranger.

Established in 1872 and headquartered in Neenah, WI, Neenah
Enterprises, Inc., is a leading supplier of iron castings such as
manhole covers and storm grates.  The company operates 7
manufacturing facilities serving municipal and industrial
customers throughout the U.S.

"The combination of GE's experience with foundry companies and
expertise in turnaround finance helped us advance our
reorganization," said Richard D. Caruso, a managing director for
Huron Consulting Services, LLC that is serving as acting Chief
Executive Officer for the company.  "We value our long standing
relationship with GE and their ability to continue to make
significant financial commitments."

"We're dedicated to meeting the restructuring finance needs of
mid-sized and large companies," said Rob McMahon, managing
director of GE Capital, Restructuring Finance.  "Providing
businesses with the critical liquidity to execute their objectives
is our specialty."

GE Capital, Restructuring Finance is a leading provider of senior
secured loans to distressed companies supporting Chapter 11
filings, plan-of-reorganizations and out-of-court restructurings.

                 About Neenah Enterprises

Headquartered in Neenah, Wisconsin, Neenah Enterprises, Inc. --
http://www.nfco.com/-- is the indirect parent holding company of
Neenah Foundry Company. Neenah Foundry Company and its
subsidiaries manufacture and market a wide range of iron castings
and steel forgings for the heavy municipal market and selected
segments of the industrial markets.  Neenah is one of the largest
independent foundry companies in the United States, with
substantial market share in the municipal and various industrial
markets for gray and ductile iron castings and forged steel
products.

The Company filed for Chapter 11 bankruptcy protection on
February 3, 2010 (Bankr. D. Del. Case No. 10-10360).  Edmon L.
Morton, Esq., and Kenneth J. Enos, Esq., assist the Company in its
restructuring effort.  The Company had $286,611,000 in total
assets against total liabilities of $449,435,000, resulting in
stockholder's deficit of $162,824,000.

The Company's affiliates -- NFC Castings, Inc.; Neenah Foundry
Company; Cast Alloys, Inc.; Neenah Transport, Inc.; Advanced Cast
Products, Inc.; Gregg Industries, Inc.; Mercer Forge Corporation;
Deeter Foundry, Inc.; and Dalton Corporation -- filed separate
Chapter 11 petitions.


NELSON SANCHEZ: Case Summary & 13 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Nelson Sanchez
        9632 Lemoran Avenue
        Downey, CA 90240

Bankruptcy Case No.: 10-41357

Chapter 11 Petition Date: July 28, 2010

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

Judge: Barry Russell

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

Estimated Assets: $0 to $50,000

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

A copy of the Debtor's list of 13 largest unsecured creditors
filed together with the petition is available for free at
http://bankrupt.com/misc/cacb10-41357.pdf

The petition was signed by the Debtor.


NEXCEN BRANDS: Shareholders Approve Sale to Global Franchise
------------------------------------------------------------
NexCen Brands Inc. held a special meeting of stockholders at which
four proposals were presented to the Company's stockholders for
consideration.  At the Special Meeting, a majority of the shares
of the Company's common stock issued and outstanding as of the
record date of June 4, 2010, as represented by proxy or in person,
voted in favor of all four proposals.

The four matters presented for consideration were:

   1) the sale of substantially all of the assets of the Company
      to Global Franchise Group, LLC, an affiliate of Levine
      Leichtman Capital Partners IV, L.P., pursuant to the terms
      of the Acquisition Agreement, dated May 13, 2010, between
      the Company and Global Franchise Group, LLC;

   2) the plan of complete dissolution and liquidation of the
      Company, including the liquidation and dissolution of the
      Company contemplated thereby, following the closing of the
      Asset Sale,

   3) an amendment to the Company's certificate of incorporation
      to reduce the number of authorized shares of capital stock
      from 1 billion shares of common stock and 1 million shares
      of preferred stock to 100 million shares of common stock and
      1 million shares of preferred stock, and

   4) authorization for the Company's Board of Directors to
      adjourn the Special Meeting, in its discretion, if the
      voting power of holders of the Company's common stock
      represented and voting in favor of the asset sale proposal,
      the plan of dissolution proposal or the share reduction
      proposal was insufficient to approve any of such proposals
      under Delaware law.

The proposals were described in detail in the Company's definitive
Proxy Statement for the Special Meeting filed with the Securities
Exchange Commission on June 11, 2010.

At the Special Meeting, a total of 41,252,886 shares, or 72.4%, of
the Company's common stock issued and outstanding as of the record
date of June 4, 2010, was represented by proxy or in person.
Computershare, the Company's independent inspector of elections at
the Special Meeting, has certified the voting results.

                       About NexCen Brands

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

Nexcen Brands reported a net loss of $711,000 on $10.0 million of
total revenues for the three months ended March 31, 2010, compared
with a net loss of $865,000 on $11.9 million of total revenues
during the same period a year earlier.

The Company's balance sheet at March 31, 2010, showed
$100.0 million in total assets and $149.6 million in total
liabilities, for a total stockholders' deficit of $49.6 million.


NIVIE SAMAAN-LLOYD: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Nivie Samaan-Lloyd
          aka Nivie Samaan
        320 S Peck Drive
        Beverly Hills, CA 90212

Bankruptcy Case No.: 10-41511

Chapter 11 Petition Date: July 29, 2010

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

Judge: Sheri Bluebond

Debtor's Counsel: Michael J. Jaurigue, Esq.
                  Jaurigue Law Group
                  411 N Central Avenue, Suite 310
                  Glendale, CA 91203
                  Tel: (818) 432-3220
                  E-mail: michael@jauriguelaw.com

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

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

A copy of the Debtor's list of 20 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/cacb10-41511.pdf

The petition was signed by the Debtor.


NORD RESOURCES: Has Deal with Trade Creditor on Debt Conversion
---------------------------------------------------------------
Nord Resources Corporation has reached an agreement with its
largest unsecured trade creditor to convert approximately
$8.2 million of payables to a two-year unsecured note bearing
interest on the outstanding principal at the rate of 6% per annum.

Under the agreement, the creditor, mining contractor Fisher Sand &
Gravel Company, will receive monthly payments on the note with the
amounts based on a formula related to the level of copper sales
made by Nord.

"We very much appreciate that Fisher Sand & Gravel Company was
willing to work with us to address our outstanding debt in a
manner that will be of benefit to both companies," said Randy
Davenport, Nord's Chief Executive Officer.  "Fisher has provided
us with excellent service as our mining contractor."

Nord also announced that after further consideration, it has
decided not to pursue at this time a new listing on a Canadian-
based stock exchange.  As previously announced, at the close of
the market on July 30, 2010, the Toronto Stock Exchange will
delist Nord's common stock.

"By not listing on another exchange at this time, we will realize
a fairly significant cost savings.  Further, the volume of trading
of Nord's shares on the TSX has been very light during the past
year, often with no trades on consecutive days.  Our shares will
continue to trade in the United States on the OTC Bulletin Board,"
Mr. Davenport said.

                       About Nord Resources

Based in Tuczon, Arizona, Nord Resources Corporation
(TSX:NRD/OTCBB:NRDS.OB) -- http://www.nordresources.com/-- is a
copper mining company whose primary asset is the Johnson Camp
Mine, located approximately 65 miles east of Tucson, Arizona.
Nord commenced mining new ore on February 1, 2009.

Nedbank, the Company's senior lender, has declined to extend the
forbearance agreement with respect to the scheduled principal and
interest payment in the approximate amount of $2,150,000 that was
due on March 31, 2010 under the Company's $25,000,000 secured
term-loan credit facility with Nedbank.  Nedbank Capital has also
declined to extend the forbearance agreement regarding the
Company's failure to make the payment of $697,869 due on April 6,
2010 under the Copper Hedge Agreement between the parties.  Both
forbearance agreements expired at midnight on May 13, 2010.

The Company is now in default of its obligations under the Credit
Agreement and the Copper Hedge Agreement with Nedbank.

On June 2, 2010, Nord Resources appointed FTI Consulting to advise
on refinancing structures and strategic alternatives.


NTELOS HOLDINGS: S&P Affirms 'BB-' Corporate Credit Rating
----------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its ratings on
Waynesboro, Va.-based NTELOS Holdings Corp., including the 'BB-'
corporate credit rating.  S&P is also revising its rating outlook
on NTELOS to stable from positive.

At the same time, S&P affirmed the issue-level rating on
subsidiary NTELOS Inc.'s senior secured facilities.  The '2'
recovery rating on the facilities remains unchanged.

In addition, S&P rated the company's $125 million incremental term
loan due 2015, which is permitted under the existing facilities
agreement, at 'BB' with a '2' recovery rating.  As a result of the
incremental term loan, the aggregate credit facilities will
consist of a total of $760 million of term loans due 2015 plus the
existing, undrawn, $35 million revolving credit facility due 2014.
The company will use proceeds from the incremental term loan,
coupled with around $50 million of cash, to finance the purchase
of the FiberNet assets from One Communications Corp. for
$170 million.  The transaction requires regulatory approval and is
subject to termination if not completed by the end of the year.
FiberNet is a competitive local exchange carrier serving about
100,000?-largely business--access lines in West Virginia and
surrounding areas.  The '2' recovery rating indicates prospects
for substantial (70%-90%) recovery of principal in the event of
payment default.

Pro forma for financing of the FiberNet acquisition, S&P expects
adjusted debt leverage to be in the 3.5x debt/EBITDA area,
somewhat above the 3.3x parameter for the 12 months ended
March 31, 2010.  There is the potential for some moderation in
leverage, including from realization of some synergies that are
likely to accrue to the FiberNet assets.  However, the revision to
a stable outlook reflects S&P's view that, at least in the near
term, adjusted leverage is not likely to moderate to the high-2x
leverage metric cited in the prior positive outlook as supportive
of an upgrade.  At close of the FiberNet transaction, S&P expects
total outstanding debt to be approximately $760 million.  Adjusted
debt, largely for operating leases, will be around $900 million at
close of the FiberNet transaction.

"The rating recognizes NTELOS' limited scale and geographic
diversity of its operations, as well as the presence of formidable
competitors in each of its operating segments," said Standard &
Poor's credit analyst Richard Siderman.  An aggressive financial
risk profile is an additional rating consideration although S&P
views liquidity as adequate over the intermediate term.
Mitigating business risk considerations include a well-managed,
but maturing regional wireless business, which benefits from a
strategic alliance with Sprint Nextel Corp., as well as the degree
of business diversity provided by its smaller wireline businesses.

Adjusted debt leverage will increase modestly upon closing of the
pending FiberNet acquisition to around 3.5x on a pro forma basis,
a metric still fully supportive of the rating.  S&P's view of
financial risk does recognize a financial policy which includes a
material annual dividend that limits the pace of leverage
improvement.

"S&P expects liquidity to be adequate in the near term," added Mr.
Siderman, "reflecting S&P's expectation that the company will
produce positive discretionary free cash flow in addition, have
access to the $35 million revolving credit facility that S&P
expects will be undrawn at time of the closing on FiberNet
acquisition likely in late 2010."


NUVEEN INVESTMENTS: U.S. Bancorp to Get 9.5% Stake for FAF
----------------------------------------------------------
Nuveen Investments Inc. said that U.S. Bancorp will receive a 9.5%
stake in Nuveen Investments and cash consideration in exchange for
the long-term asset business of U.S. Bancorp's FAF Advisors.

FAF, which manages $25 billion of long-term assets and serves as
the advisor of the First American Funds, will be combined with
Nuveen Asset Management, which manages $75 billion in municipal
fixed income assets and serves as advisor of the Nuveen funds.
Upon completion of the transaction, Nuveen Investments, which
currently manages $150 billion of assets across several high-
quality affiliates, will manage a combined total of $175 billion
in institutional and retail assets.

"We are combining two highly respected investment organizations
and capabilities. The resulting business will bring together
Nuveen Asset Management's market-leading municipal bond expertise
with FAF's proven and distinct investment capabilities including
taxable fixed income, real assets, equities and asset allocation,"
said John Amboian, Chairman and CEO of Nuveen Investments. "The
FAF investment teams joining Nuveen Asset Management will continue
to follow their established investment processes under their
current investment leaders.  Additionally, and importantly, the
combination will help scale and diversify Nuveen Investments'
mutual fund line up by building upon the successes of First
American Funds and Nuveen Funds -- both of which were featured
recently among the top five fund families by Barron's Magazine.

This combination will provide us even more ways to meet the needs
of investors who work with financial advisors and consultants."
"Together the acquired FAF business and Nuveen Asset Management,
which will operate under the name of Nuveen Asset Management with
operations in Chicago and Minneapolis, will create a substantial
affiliate within Nuveen Investments' multi-boutique business
model.  We 're excited to bring into one business two strong
investment platforms and to leverage the scaled distribution,
marketing and service capabilities provided by both
organizations," said Tom Schreier, Chief Executive Officer of FAF.

"We look forward to maintaining our strong partnership with U.S.
Bank, particularly with its Wealth Management business, and we
intend to strengthen even further our commitment to FAF's current
mutual fund, retirement and institutional clients."

Tom Schreier will become Vice Chairman, Wealth Management, of
Nuveen Investments and oversee the firm's efforts to further scale
and develop its wealth management platforms and to enhance related
shared-service functions of Nuveen Investments.  Bill Huffman,
current co-head and Chief Operating Officer of Nuveen Asset
Management, will become the President of the combined Nuveen Asset
Management businesses, taking on responsibility for all business
activities of Nuveen Asset Management and reporting to the Office
of the Chairman of Nuveen Investments through Tom Schreier.
Huffman and Schreier will work together to combine and leverage
the respective strengths of FAF and Nuveen Asset Management.

Products managed by the investment teams within Nuveen Asset
Management will be offered under the Nuveen brand name and
possibly, for legacy First American Funds, the Nuveen FAF brand
name.

The combination of FAF with Nuveen Asset Management will further
enhance the multi-boutique model of Nuveen Investments which also
includes the highly respected investment boutiques of NWQ
Investment Management, Santa Barbara Asset Management, Symphony
Asset Management, Tradewinds Global Investors, Winslow Capital and
Nuveen HydePark.

The transaction is expected to close later this year, subject to
customary conditions.  Nuveen was advised by Bank of America
Merrill Lynch.

                    About Nuveen Investments

Founded in 1898, Nuveen Investments, Inc., based in Chicago,
Illinois, provides investment management services to high-net-
worth and institutional investors and the financial consultants
and advisors who serve them.  The Company derives substantially
all of its revenues from providing investment advisory services
and distributing managed account products, closed-end exchange-
traded funds and open-end mutual funds.

On April 1, 2009, Moody's Investors Service lowered Nuveen's
corporate family rating to Caa1, the rating for its senior secured
credit facilities to B3, and the rating for its senior unsecured
notes to Caa3.  In addition, on April 1, 2009, Standard and Poor's
Ratings Services lowered the Company's local currency long-term
counterparty credit rating to B-.


OAKWOOD APARTMENTS: Case Summary & 13 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Oakwood Apartments, LLC
        P.O. Box 70965
        Reno, NV 89570

Bankruptcy Case No.: 10-52997

Chapter 11 Petition Date: July 28, 2010

Court: United States Bankruptcy Court
       District of Nevada (Reno)

Judge: Gregg W. Zive

Debtor's Counsel: Alan R. Smith, Esq.
                  505 Ridge St.
                  Reno, NV 89501
                  Tel: (775) 786-4579
                  E-mail: mail@asmithlaw.com

Scheduled Assets: $1,111,510

Scheduled Debts: $1,488,787

A list of the Company's 13 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nvb10-52997.pdf

The petition was signed by Scott D. Sexton, member.


ORIENTAL TRADING: May File for Bankruptcy or Sold, NY Times Says
----------------------------------------------------------------
Julie Creswell, writing for The New York Times, said last month
Oriental Trading Company could be sold to another firm, could
declare bankruptcy or the banks could take it over, wiping out the
investment made by Carlyle Group.

The Troubled Company Reporter, citing Daily Bankruptcy Review,
reported July 13 that Oriental Trading said it is exploring "all
restructuring alternatives" in negotiations with its lenders.

The Company missed its second-lien debt interest payment, which
was due May 31, 2010.  The interest payment was part of its
$640 million in bank loans.

"The banks continue to try to work and do what they can with
troubled borrowers," Ms. Creswell quoted Scott Tuhy, an analyst
with Moody's Investors Service, as saying.  "It seems they would
rather avoid a bankruptcy filing in many of these cases."

"This investment didn't work out the way we expected, but our
overall portfolio is in very good shape," Ms. Creswell quoted
Christopher Ullman, a spokesman for Carlyle, as saying in a
statement.  He declined to make any further statements because of
current negotiations.

The Troubled Company Reporter on July 13, 2010, also reported that
Moody's Investors Service lowered Oriental Trading's Probability
of Default Rating to Ca/LD from Caa3 and Corporate Family Rating
to Ca from Caa3.  Moody's also lowered OTC's first and second lien
term loan ratings to Caa2 and C, respectively.  The outlook is
stable.

The TCR also reported that Standard & Poor's Ratings Services said
it lowered its corporate credit rating on Oriental Trading to 'D'
from 'CC'.  At the same time, S&P lowered its bank loan rating on
the company's $180 million second-lien facility to 'D' from 'C'
and kept the '6' recovery rating on the debt unchanged.  S&P also
affirmed its 'CC' bank loan rating on the company's $460 million
first-lien facility.  S&P kept the '4' recovery rating on the
facility unchanged.

Oriental Trading -- http://www.orientaltrading.com/-- is a
wholesaler of novelties and party items.  Carlyle Group acquired
Oriental Trading in 2006 from another private equity firm in a
deal valued at $1 billion.


PACIFICA MESA: Taps William Hoffman as Chief Restructuring Officer
------------------------------------------------------------------
Pacifica Mesa Studios, LLC, has asked for authorization from the
U.S. Bankruptcy Court for the Central District of California to
employ William J. Hoffman as chief restructuring officer and his
firm, Trigild, Inc., as restructuring consultant.

Mr. Hoffman will oversee the existing management functions.
Trigild will perform:

     a. initial site visit and inventory of real and personal
        property;

     b. interview of existing management and organizational
        operating structure;

     c. assess Current Financial Condition;

     d. Prepare Report of Initial Findings;

     e. Prepare Communications Calendar for onsite visitation to
        coincide with month end reporting to review operations,
        sales and marketing and review of financial condition;

Trigild will be paid $250 per hour.

William J. Hoffman, a member at Trigild, assures the Court that
the firm is a "disinterested person," as that term is defined in
section 101(14) of the Bankruptcy Code, as modified by section
1107(b) of the Bankruptcy Code.

Agoura Hills, California-based Pacifica Mesa Studios, LLC, dba
Albuquerque Studios and ABQ Studios, is a privately held
California limited liability company formed in 2006 for the
purpose of developing and operating a state-of-the art production
complex in Albuquerque, New Mexico.  The Debtor is owned on a
50/50 basis by the two members, Harold (Hal) Katersky and Dana
Arnold.  The Company owns and runs a production complex in
Albuquerque, New Mexico comprised of eight large soundstages.

The Company filed for Chapter 11 bankruptcy protection on July 20,
2010 (Bankr. C.D. Calif. Case No. 10-18827).  Steven T. Gubner,
Esq., at Ezra Brutzkus & Gubner, assists the Company in its
restructuring effort.  The Company listed $50,000,001 to
$100,000,000 in assets and $100,000,001 to $500,000,000 in
liabilities.


PARLUX FRAGRANCES: Posts $232,000 Net Income for June 30 Quarter
----------------------------------------------------------------
Parlux Fragrances Inc. reported its unaudited results for the
quarter ended June 30, 2010.  Net sales for the quarter were
$24.1 million, compared to $23.6 million for the prior year
quarter, an increase of 2%.  Net income was $232,000 or $0.01 per
share, compared to a net loss of $2.5 million for the same prior
year period.

The Company's balance sheet at June 30, 2010, showed
$114.4 million in total assets and $14.2 million in total
liabilities, for a $100.2 million total stockholder's equity.

Mr. Frederick E. Purches, Chairman and CEO commented, "We were
able to increase our sales in this quarter despite the inclusion
of $11.8 million of GUESS product sales in the prior year.
Although we expect total sales in the next two quarters will be
negatively impacted in comparison to the prior year, we anticipate
growth in existing brands in this fiscal year.  Of special
significance was our return to profitability.  This was basically
due to careful cost control, as operating expenses were reduced by
$3.6 million or 21% compared to the same prior year period."

Mr. Purches added, "Our balance sheet at June 30, 2010 reflects a
cash position of $14.9 million and no bank debt.  We have not
drawn on our $20 million line of credit available from GE Capital
Corporate Finance.  Our equity now exceeds $100 million
representing a book value of $4.89 per share."

Mr. Purches concluded, "Although the retail environment has not
returned to previous levels, our management and staff are
energized by these achievements.  We believe that the market value
of our stock is far below its intrinsic value and we expect our
new strategy will merit renewed shareholder confidence."

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?676a

                         Amended Form 10-K

Parlux Fragrances Inc. filed an amended annual report on Form 10-K
for the fiscal year ended March 31, 2010.  No material changes
were made in the Company's balance sheet.  A full-text copy of the
company's amended Form 10-K is available for free at
http://ResearchArchives.com/t/s?676b

                      About Parlux Fragrances

Parlux Fragrances, Inc. (NASDAQ:PARL) -- http://www.parlux.com/--
is a manufacturer and international distributor of prestige
products.  It holds licenses for Paris Hilton, Jessica Simpson,
GUESS?, Nicole Miller, Josie Natori, Queen Latifah, Marc Ecko,
Rihanna, Kanye West, XOXO, Ocean Pacific (OP), Andy Roddick,
babyGund, and Fred Hayman Beverly Hills designer fragrances, as
well as Paris Hilton watches, cosmetics, sunglasses, handbags and
other small leather accessories.

                 Extension of Forbearance Period

As reported in the Troubled Company Reporter, the Company on
October 29, 2009, entered into a Second Amendment to Loan
Agreement and Amendment to Forbearance Agreement with Regions Bank
extending the forbearance period through February 15, 2010, and
calling for the Company to repay the remaining loan balance over
the course of the extension period.  The Second Amendment requires
the Company to continue to comply with certain covenants with
Regions under the Loan Agreement.

As of December 31, 2009, the Company was not in compliance with
its fixed charge coverage and funded debt to EBITDA covenants
under the Loan Agreement, as amended.  As of February 4, 2010, the
Company has $1.1 million in outstanding borrowings under the Loan
Agreement, which was scheduled for repayment on February 15, 2010.

The Company, in its third fiscal quarter report for the period
ended December 31, 2009 -- which report was filed on February 4,
2010 -- said it believes that funds from operations will be
sufficient to meet current operating and seasonal needs through
June 30, 2010.  The Company said it continues to seek replacement
financing with the objective of having a new financing arrangement
in place in anticipation of next year's major production season.


PARMALAT SPA: Appeals Court Affirms Tanzi's 10-Year Sentence
------------------------------------------------------------
An appeals court in Italy affirmed the 10-year sentence handed
down to Calisto Tanzi in December 2008 for his role in Parmalat's
collapse, ANSA reported.  Mr. Tanzi was Parmalat's founder and
former chief executive officer.

As previously reported, prosecutors for the Italian government had
asked for a stiffer sentence for Mr. Tanzi, who was sentenced to
10 years in prison for securities-laws violations, leading to
Parmalat's collapse in 2003.  The prosecutors were asking the
appeals court that the term should be increased to 11 years and
one month.

The appeals court, however, upheld the original 10-year sentence
for Mr. Tanzi.  In its May 26, 2010 ruling, the court also
directed him to reimburse some 32,000 Parmalat share and bond
holders for a total of about 100,000 euros, ANSA reported.

"I'm stunned because I was actually expecting my sentence to be
reduced," Mr. Tanzi was quoted by ANSA as saying in comment to the
ruling.

The court also confirmed a two-and-a-half year sentence for
Giovanni Bonici and a three-year sentence for Luciano Silingardi.
Mr. Bonici was former Parmalat Venezuela chairman, while Mr.
Silingardi was an ex-independent consultant for the group.

According to ANSA, Mr. Tanzi would appeal the ruling to the
Italian Supreme Court of Cassation, citing his lawyers.

                      About Parmalat S.p.A.

Headquartered in Milan, Italy, Parmalat S.p.A. --
http://www.parmalat.net/-- sells nameplate milk products that can
be stored at room temperature for months.  It also has about 40
brand product lines, which include yogurt, cheese, butter, cakes
and cookies, breads, pizza, snack foods and vegetable sauces,
soups and juices.

The Company's U.S. operations filed for Chapter 11 protection on
February 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139).  Gary
Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal &
Manges LLP, represent the Debtors.  When the U.S. Debtors filed
for bankruptcy protection, they reported more than USUS$200
million in assets and debts.  The U.S. Debtors emerged from
bankruptcy on April 13, 2005.

Parmalat S.p.A. and its Italian affiliates filed separate
petitions for Extraordinary Administration before the Italian
Ministry of Productive Activities and the Civil and Criminal
District Court of the City of Parma, Italy on December 24, 2003.
Dr. Enrico Bondi was appointed Extraordinary Commissioner in
each of the cases.  The Parma Court has declared the units
insolvent.

On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No.
04-14268, in the United States Bankruptcy Court for the Southern
District of New York.

Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat
Capital Finance Ltd., and Food Holdings Ltd.  Dairy Holdings and
Food Holdings are Cayman Island special-purpose vehicles
established by Parmalat S.p.A.  The Finance Companies are under
separate winding up petitions before the Grand Court of the Cayman
Islands.  Gordon I. MacRae and James Cleaver of Kroll (Cayman)
Ltd. serve as Joint Provisional Liquidators in the cases.  On
January 20, 2004, the Liquidators filed Sec. 304 petition, Case
No. 04-10362, in the United States Bankruptcy Court for the
Southern District of New York.  In May 2006, the Cayman Island
Court appointed Messrs. MacRae and Cleaver as Joint Official
Liquidators.  Gregory M. Petrick, Esq., at Cadwalader, Wickersham
& Taft LLP, and Richard I. Janvey, Esq., at Janvey, Gordon,
Herlands Randolph, represent the Finance Companies in the Sec. 304
case.

The Honorable Robert D. Drain presided over the Parmalat Debtors'
U.S. cases.  On June 21, 2007, the U.S. Court granted Parmalat
permanent injunction.


PARMALAT SPA: Bondi Wants Certification on Appeal of GTIL Order
---------------------------------------------------------------
On behalf of Dr. Enrico Bondi, Peter E. Calamari, Esq., at Quinn,
Emanuel, Urquhart, Oliver & Hedges, LLP, in New York --
petercalamari@quinnemanuel.com -- wrote to Judge Lewis A. Kaplan
of the United States District for the Southern District of New
York on May 27, 2010, asking Judge Kaplan to endorse a certain
proposed amendment to the District Court's June 17, 2009 order,
which order granted Grant Thornton International Ltd.'s motion to
dismiss Dr. Bondi's amended complaint.

The amendment would certify the June 17 Order for appeal pursuant
to Rule 54(b) of the Federal Rules of Civil Procedure, Mr.
Calamari says.  He reminds the District Court that Dr. Bondi is
currently appealing the June 17 dismissal of his claims against
GTIL, as well as the District Court's September 2009 Order
granting summary judgment in favor of defendants Grant Thornton
International and Grant Thornton LLP.

Mr. Calamari relates that on October 16, 2009, the District Court
entered a Rule 54(b) certification, finding that there was "no
just reason for delay because entry of final judgment in favor of
GTI and GT-US will not cause duplicative appellate review inasmuch
as the remaining issue of damages to be adjudicated against the
remaining defendant is entirely separate and dissimilar from the
issues to be appealed."  Nevertheless, he argues, GTIL filed its
opposition brief on May 19, 2010, in Dr. Bondi's appeal and the
consolidated appeal filed by Parmalat Capital Finance Limited, and
took the position that the Court of Appeals lacks jurisdiction to
review the June 17 Order because that order is non-final and has
not been certified for appeal under Rule 54(b).

Dr. Bondi believes that GTIL's position is without merit and that
the Court's final judgment as amended by the October 16, 2009
certification provided appellate jurisdiction over all issues
included in his Notice of Appeal, including the appeal of the June
17 Order.  Despite that, Mr. Calamari asserts, GTIL argues that
the dismissal in its favor is non-final because the adjudication
of Dr. Bondi's damages against Grant Thornton S.p.A. -- which has
defaulted as to liability -- has yet to take place.

GTIL has not taken the position that the Court's dismissal of Dr.
Bondi's amended complaint against it should never be reviewed,
only that Dr. Bondi should not now be permitted to appeal that
order together with the other issues currently pending before the
Court of Appeals, Mr. Calamari says.  He argues that GTIL's
appellate position is incorrect on the law and would entail a
substantial amount of unnecessary delay and expense on the part of
the parties, as well as burdening both the District Court and the
Court of Appeals with unnecessary submissions, inasmuch as the
parties' respective positions on the merits of the dismissal of
GTIL have already been briefed for the Court of Appeals.

Accordingly, Dr. Bondi asks that the District Court endorse the
amendment to the June 17 Order, and reissue that order with a Rule
54(b) certification to avoid any doubt with respect to the Court
of Appeal's jurisdiction over that aspect of Dr. Bondi's appeal.

Dr. Bondi submits that certifying the June 17 Order and related
issues for appeal will not prejudice GTIL in any way, particularly
given that, among other things, Dr. Bondi's intent to appeal the
June 17 dismissal was included in his notice of appeal and,
accordingly, has been known to GTIL for over six months.

                         GTIL Objects

James L. Bernard, Esq., at Stroock & Stroock & Lavan, LLP, in New
York -- jbernard@stroock.com -- relates that on September 21,
2009, the District Court granted GTI's and GT-US' motion for
summary judgment on in pari delicto grounds.  On October 16, 2009,
the District Court certified the In Pari Order for immediate
appeal pursuant to Rule 54(b).

Dr. Bondi's belated request is a reaction to GTIL's argument in
the Court of Appeals contesting appellate jurisdiction over the
June 17 Order, which Dr. Bondi and co-appellant Parmalat Capital
Finance Limited are improperly trying to subsume within the
District Court's earlier Rule 54(b) certification of the In Pari
Order, Mr. Bernard argues.  He contends that the District Court
should not certify the June 17 Order for appeal at this late
juncture because the interests of justice and sound judicial
administration, the relevant considerations, weigh conclusively
against immediate appeal.  He alleges that Dr. Bondi has made no
showing of any hardship that would result if the appeal were
delayed.

Rule 54(b) certification requires that there be "no just reason
for delay" of appeal of the June 17 Order, Mr. Bernard contends.
He argues that Dr. Bondi waited almost one year to seek
certification of the June 17 Order, and then not until GTIL had
filed its brief attacking the Appellate Court's jurisdiction to
review the order.

Dr. Bondi's late effort to obtain a Rule 54(b) certification is
not based on a good faith need for immediate appellate review, Mr.
Bernard asserts.  He avers that Dr. Bondi did not even attempt to
have the June 17 Order certified five months later in October
2009, when Dr. Bondi proposed, drafted and requested certification
of the In Pari Order.

Putting aside Dr. Bondi's lengthy delay in seeking certification,
the request should be denied because further proceedings in the
case could render the GTIL issue moot, Mr. Bernard further
asserts, among other things.

                     Dr. Bondi Talks Back

Contrary to Mr. Bernard's arguments, Dr. Bondi's straightforward
request violates no rule and would serve the interests of judicial
economy by removing a potential procedural hurdle to the Court of
Appeals' efficient consideration of pending appeal issues that
have already been fully briefed by the parties on an agreed-to
schedule related to the June 17 Order, Mr. Calamari argues.

By contrast, GTIL's proposed alternative would entail a highly
inefficient, multi-track process that would delay resolution of
these issues, potentially for years, Mr. Calamari contends.  He
points out that GTIL will suffer no prejudice should the District
Court grant an amended certificate allowing the issues related to
its dismissal to be decided alongside every other issue in the
case, save GT-Italy's damages on default.

Judicial economy strongly favors allowing Dr. Bondi's appeal now
rather than later, as all that remains of the action in the
District Court is to determine damages as to the defaulted GT-
Italy, Mr. Calamari further contends.

Judge Kaplan denied Dr. Bondi's request, "substantially for the
reasons set forth in Mr. Bernard's 5/28/10 letter, especially the
substantial likelihood that the claims against GTIL will become
moot."

                         Stipulations

A. Principal Global, et al.

Pursuant to Rule 41(a)(1)(A)(ii) of the Federal Rules of Civil
Procedure, Plaintiffs Principal Global Investors LLC, Principal
Life Insurance Company and Scottish Re (U.S.) Inc. and Defendants
Bank of America Corporation, Bank of America, N.A., and Banc of
America Securities LLC agreed that all claims asserted by the
Principal Global Plaintiffs are dismissed with prejudice and
without costs to any party.

The stipulation does not affect claims asserted by Plaintiff Aviva
Life Insurance Company nor does it affect any defenses to claims
by any Defendant, including a defense asserting that Aviva's
claims have been settled.

Judge Kaplan approved the stipulation.

B. Monumental Life, et al.

Plaintiffs Monumental Life Insurance Company, Transamerica
Occidental Life Insurance Company and Transamerica Life Insurance
Company and the Bank of America Defendants agreed that all claims
that the Monumental Life Plaintiffs have asserted are dismissed
with prejudice and without costs to any party.

                  Goldstein Files Declaration

Linda C. Goldstein, Esq., at Covington & Burling LLP, in New York
-- lgoldstein@cov.com -- filed with the Court a reply declaration
to submit to the District Court two documents cited in the reply
memorandum of law in support of the sealed motion for summary
judgment filed by Defendants Bank of America Corporation, Bank of
America, N.A., and Banc of America Securities LLC.

Ms. Goldstein tells the District Court that the documents are true
and correct copies of:

  (1) a report on federal law and regulation with respect to
      private placements authored by the Committee on Federal
      Regulation of Securities of the American Bar Association
      entitled "Law of Private Placements (Non-Public Offerings)
      Not Entitled to Benefits of Safe Harbors -- A Report; and

  (2) a table prepared under her supervision depicting discovery
      requests that concern or encompass the Food Holdings
      Limited transaction in the multidistrict litigation.

                      About Parmalat S.p.A.

Headquartered in Milan, Italy, Parmalat S.p.A. --
http://www.parmalat.net/-- sells nameplate milk products that can
be stored at room temperature for months.  It also has about 40
brand product lines, which include yogurt, cheese, butter, cakes
and cookies, breads, pizza, snack foods and vegetable sauces,
soups and juices.

The Company's U.S. operations filed for Chapter 11 protection on
February 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139).  Gary
Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal &
Manges LLP, represent the Debtors.  When the U.S. Debtors filed
for bankruptcy protection, they reported more than USUS$200
million in assets and debts.  The U.S. Debtors emerged from
bankruptcy on April 13, 2005.

Parmalat S.p.A. and its Italian affiliates filed separate
petitions for Extraordinary Administration before the Italian
Ministry of Productive Activities and the Civil and Criminal
District Court of the City of Parma, Italy on December 24, 2003.
Dr. Enrico Bondi was appointed Extraordinary Commissioner in
each of the cases.  The Parma Court has declared the units
insolvent.

On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No.
04-14268, in the United States Bankruptcy Court for the Southern
District of New York.

Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat
Capital Finance Ltd., and Food Holdings Ltd.  Dairy Holdings and
Food Holdings are Cayman Island special-purpose vehicles
established by Parmalat S.p.A.  The Finance Companies are under
separate winding up petitions before the Grand Court of the Cayman
Islands.  Gordon I. MacRae and James Cleaver of Kroll (Cayman)
Ltd. serve as Joint Provisional Liquidators in the cases.  On
January 20, 2004, the Liquidators filed Sec. 304 petition, Case
No. 04-10362, in the United States Bankruptcy Court for the
Southern District of New York.  In May 2006, the Cayman Island
Court appointed Messrs. MacRae and Cleaver as Joint Official
Liquidators.  Gregory M. Petrick, Esq., at Cadwalader, Wickersham
& Taft LLP, and Richard I. Janvey, Esq., at Janvey, Gordon,
Herlands Randolph, represent the Finance Companies in the Sec. 304
case.

The Honorable Robert D. Drain presided over the Parmalat Debtors'
U.S. cases.  On June 21, 2007, the U.S. Court granted Parmalat
permanent injunction.


PATRICK KEERY: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Joint Debtors: Patrick Francis Keery
               Kathleen Louise Keery
               7119 E. Shea  Blvd., Suite 109-271
               Scottsdale, AZ 85254

Bankruptcy Case No.: 10-23584

Chapter 11 Petition Date: July 28, 2010

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Randolph J. Haines

Debtor's Counsel: D. Lamar Hawkins, Esq.
                  Aiken Schenk Hawkins & Ricciardi PC
                  4742 Norht 24th Street, Suite 100
                  Phoenix, AZ 85016
                  Tel: (602) 248-8203
                  Fax: (602) 248-8840
                  E-mail: dlh@ashrlaw.com

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

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

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/azb10-23584.pdf

The petition was signed by the Joint Debtors.


PAUL MADISON: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Paul C. Madison
        1241 N Dearborn
        Chicago, IL 60610

Bankruptcy Case No.: 10-33558

Chapter 11 Petition Date: July 28, 2010

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

Judge: Pamela S. Hollis

Debtor's Counsel: Ernesto D. Borges, Esq.
                  Law Offices of Ernesto Borges
                  105 W Madison Street, 23rd Floor
                  Chicago, IL 60602
                  Tel: (312) 853-0200
                  E-mail: aferreria@billbusters.com

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

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

The petition was signed by the Debtor.

Debtor's List of 30 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
NOVA Leasing                       Equipment Lien       $3,000,000
32 Central Avenue
Midland Park, NJ 07432-1442

LNV Corporation                    Real Estate          $2,482,833
7195 Dallas Parkway
Dallas, TX 75624

MB Financial                       Real Estate          $1,995,552
1200 N. Ashland
Chicago, IL 60622

LaSalle Bank N.A.                  WT Surgicenter,      $1,500,000
135 S. LaSalle Street, Suite 2510  L.L.C
Chicago, IL 60603

GE Capital Commercial Inc.         WT Surgicenter,      $1,444,702
P.O. Box 7247-0371                 L.L.C.
Philadelphia, PA 19170

New Buffalo Savings Ba             Real Estate          $1,183,126
45 N Whittaker Street
New Buffalo, MI 49117

Fifth Third Bank                   Personal Guarantee   $1,100,000
1701 Golf Road Tower One
Rolling Meadows, IL 60008

XENI Financial                     WT Surgicenter         $900,000
1020 N.W. 6th Street, Suite I      L.L.C.
Deerfield Beach, FL 33442

Bac Home Loans Servici             Real Estate            $896,053
450 American Street
Simi Valley, CA 93065

Bac Home Loans Servici             Real Estate            $864,691
450 American Street
Simi Valley, CA 93065

Castle Bank                        Airplane               $800,000
100 W. Church
Sandwich, IL 60548

New Buffalo Savings Ba             Real Estate            $250,000
45 N Whittaker Street
New Buffalo, MI 49117

Community Economic Development     Pending Litigation     $200,000

New Buffalo Savings Ba             Real Estate            $150,000

Internal Revenue Service           Payroll Taxes          $100,000

Volkswagen Credit Inc              2007 Bentley NA         $81,142

Keybank USA                        Secured                 $72,310

Chase Manhattan                    Automobile              $65,854

Creasly Walker                     Personal Loan           $50,000

Handler Thayer, LLP                Legal Fees              $40,000


PHILADELPHIA NEWSPAPERS: Journalist Loses Bid for Admin. Claim
--------------------------------------------------------------
Bankruptcy Judge Stephen Raslavich denied an application filed by
the Newspaper Guild of Greater Philadelphia Local 10, on behalf of
Stephen A. Smith, a journalist, for an order allowing and
compelling the payment of an administrative expense claim,
pursuant to 11 U.S.C. Section 503(b)(1)(A)(ii).  Philadelphia
Newspapers, LLC objected to the request.

Prior to January 25, 2008, Mr. Smith was employed as a sports
columnist with the Philadelphia Inquirer.  His employment was
governed by a collective bargaining agreement which existed
between the Guild and Philadelphia Newspapers, LLC.

On January 25, 2008, his employment was terminated.  The Guild
filed a grievance on his behalf, alleging that the termination
violated the CBA because the termination was not for "good and
reasonable cause."  Because the parties were unable to resolve the
matter, it was referred to an arbitrator for a decision.

On October 27, 2009, the arbitrator held that the Newspaper is/was
obligated to, inter alia: (i) "reinstate Mr. Smith within the next
fifteen (15) days to his position"; and (ii) continue his salary
at $225,000.00.  The Award also directed the Newspaper to continue
Mr. Smith's health and dental benefits through the Guild "as
accorded a full-time employee."  The arbitrator reduced Mr.
Smith's claim for back wages to $100,000 based on mitigating
circumstances.  The Guild argues that Mr. Smith is entitled to,
and should be granted, an allowed administrative claim, for
$44,303.37 which consists of $25,726.50 allegedly owed for post-
petition wages and $18,576.87 for post-petition healthcare
premiums which he paid.

The Debtors contend that Mr. Smith is not entitled to an
administrative claim for these amounts because: (i) his back pay
award of $100,000 covers a period of time during which he rendered
no service to the Debtors; and (ii) he was similarly not rendering
any service to the Debtors when his healthcare premiums were
incurred.

A copy of the decision dated July 15 is available at:

http://www.leagle.com/unsecure/page.htm?shortname=inbco20100715745

                       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 ELKINS: Case Summary & 16 Largest Unsecured Creditors
-------------------------------------------------------------
Joint Debtors: Phillip D. Elkins
               Vicki I. Elkins
               148 White Cap Way
               Panama City Beach, FL 32407

Bankruptcy Case No.: 10-40728

Chapter 11 Petition Date: July 29, 2010

Court: U.S. Bankruptcy Court
       Northern District of Florida (Tallahassee)

Debtor's Counsel: J. Randall Frier, Esq.
                  Frier & Frier, P.A.
                  1682 Metropolitan Circle, Suite A
                  Tallahassee, FL 32308
                  Tel: (850) 894-2084
                  Fax: (850) 894-9494
                  E-mail: cumberland_1988@yahoo.com

Estimated Assets: $0 to $50,000

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

A copy of the Joint Debtors' list of 16 largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/flnb10-40728.pdf

The petition was signed by the Joint Debtors.

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
NFC Life Marketing Corporation        --                  07/29/10
NFC National Marketing Corporation    --                  07/29/10


PIERRE FOODS: Moody's Reviews 'B2' Corporate Family Rating
----------------------------------------------------------
Moody's Investors Service has placed all ratings of Pierre Foods
Inc., including the B2 corporate family rating, on review for
possible downgrade.  The ratings actions respond to the
announcement that the Boards of Directors of Pierre, Advance Food
Company, Inc., and Advance Brands, LLC (not rated by Moody's) have
approved and entered into a definitive merger agreement.  Terms of
the merger agreement have not been disclosed.  The transaction is
subject to customary closing conditions and is expected to close
in the third calendar quarter.  Conclusion of this review is
expected to coincide with the closing of the merger.

Moody's expects the combination of these three entities, which is
reportedly to be named Advance Pierre Foods, is likely to create a
relatively strong player in the U.S. packaged sandwich and
prepared protein markets serving a broad array of channels that
include foodservice, schools, club stores, C-stores, military and
retail.  The review will focus on both the amount and terms of the
debt employed in NewCo's capital structure, and the financial
risks associated with completing the merger.  Additionally, the
review will incorporate Moody's view of post-merger business
risks, notably integration, governance and fiscal policies, as
well as the expected liquidity profile of NewCo.

In the event that the merger results in the retirement of Pierre's
legacy debt, Moody's will likely confirm and withdraw the affected
ratings.

These ratings were placed on review for possible downgrade:

* B2 corporate family rating;

* B2 probability of default rating; and

* B2 (LGD4, 56%) rating on the $260 million senior secured term
  loan due 2016 (Loss Given Default assessments are subject to
  change.)

The last rating action on Pierre was the February 19, 2010
affirmation of the B2 corporate family rating.

Pierre is a developer, manufacturer and marketer of high quality,
differentiated processed food solutions focused on hand-held
convenience sandwiches and pre-cooked portion-controlled protein
products.  Offerings include burgers, meatloaf, boneless rib
sandwiches, sausage biscuits and chicken strips.  Revenue for the
year ending March 6, 2010, was approximately $560 million.


PIERRE FOODS: S&P Gives Negative Outlook, Affirms 'B' Rating
------------------------------------------------------------
Standard & Poor's Ratings Services said that it revised its
outlook on Cincinnati, Ohio-based Pierre Foods to negative from
stable.  S&P also affirmed the 'B' corporate credit rating on
Pierre Foods.  At the same time, S&P placed the 'B+' corporate
credit rating and issue-level ratings on Enid, Okla.-based Advance
Food Co. on CreditWatch with negative implications.

"The rating actions follow the announcement that both companies
will merge to form a new company called Advance Pierre Foods,"
said Standard & Poor's credit analyst Susan Ding.  Although the
terms of the transaction were not publicly disclosed, S&P believes
that the combined company will be highly leveraged.  However, S&P
believes the companies' combined business profile will improve due
to enhanced scale, a broader product and portfolio customer base,
and that the company should realize some cost saving synergies
from this merger.  Nevertheless, it is S&P's opinion that
integration risk is a key rating factor.  In order to maintain the
current 'B' rating on Pierre Foods, S&P expects the combined
entity to maintain leverage at or below 6.5x.  If the newly formed
entity demonstrates a more aggressive financial policy, or engages
in debt-financed dividends S&P would consider lowering the
ratings.

Upon completion of the transaction as proposed, S&P would expect
to lower the ratings on Advance Foods to the same level as Pierre
Foods.  If Advance Foods repays its debt in full following this
transaction, S&P would withdraw all ratings on Advance Foods,
including the corporate credit rating.


PLATINUM ENERGY: Posts $957,800 Net Loss in Q1 Ended March 31
-------------------------------------------------------------
Platinum Energy Resources, Inc., filed its quarterly report on
Form 10-Q, reporting a net loss of $952,772 on $10,670,614 of
revenue for the three months ended March 31, 2010, compared with a
net loss of $2,116,156 on $8,835,196 of revenue for the same
period of 2009.

The Company's balance sheet at March 31, 2010, showed $64,428,758
in assets, $36,042,856 of liabilities, and $28,385,902 of
stockholders' equity.

As reported in the Troubled Company Reporter on July 7, 2010, GBH
CPAs, PC, in Houston, Texas, expressed substantial doubt about
the Company's ability to continue as a going concern after
auditing the Company's financial statements for the year ended
December 31, 2009.  The independent auditors noted that the
Company has experienced significant losses since inception and is
currently in default of its debt agreements.

The Company has cumulative losses of $112,229,027 through
March 31, 2010.  The Company's outstanding loan with the Bank of
Texas matured on June 1, 2010, and remains unpaid as of July 29,
2010.  At March 31, 2010, the loan balance was approximately
$13 million.  Since March 31, 2010, the Company has been able to
reduce the Bank of Texas loan balance to approximately
$9.5 million by using excess cash on hand and by using the cash
proceeds received from the liquidation of a portion of the
Company's derivative positions.  However, the Company's current
cash on hand is not adequate to satisfy the Bank of Texas debt.

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

               http://researcharchives.com/t/s?6786

Houston, Tex.-based Platinum Energy Resources, Inc. --
http://www.platenergy.com/-- is an independent oil and gas
exploration and production company.  The Company has approximately
37,000 acres under lease in relatively long-lived fields with
well-established production histories.  The properties properties
are concentrated primarily in the Gulf Coast region in Texas, the
Permian Basin in Texas and New Mexico, and the Fort Worth Basin in
Texas.


POINT BLANK: U.S. Trustee Seeks Examiner for Company
----------------------------------------------------
The U.S. Trustee is asking a bankruptcy judge in Delaware to order
the appointment of a an examiner in the bankruptcy cases of Point
Blank Solutions, Inc. and its affiliates.

netDockets Blog reports that the U.S. Trustee proposes that the
examiner be tasked with investigating "(i) the independence of the
current Board and (ii) the benefit to the estate and shareholders
of approval of the settlement of the class and derivative actions,
as well as effect on the estate if Brooks is convicted and the SEC
action is resolved in favor of the SEC."

The U.S. Trustee contends, "the appointment of an examiner under
section 1104(c)(1) of the Bankruptcy Code to investigate the
affairs of the Debtors serves the best interests of creditors,
equity security holders and other interests of the estate and will
provide the most expeditious and cost-effective means of
performing the investigation that is required by the facts and
circumstances of the cases."

According to Bloomberg News, the motion for an examiner, filed on
July 30, also said there is a need to learn whether the lender
Steele Partners LLC is operating in good faith.  Steele is
providing a $20 million loan for the Chapter 11 case on terms
requiring a sale or reorganization plan by September.

                        About Point Blank

Pompano Beach, Fla.-based Point Blank Solutions, Inc.
-- http://www.pointblanksolutionsinc.com/-- designs and produces
body armor systems for the U.S. Military, Government and law
enforcement agencies, well as select international markets.  The
Company is recognized as the largest producer of soft body armor
in the U.S.  The Company maintains facilities in Pompano Beach,
Florida and Jacksboro, Tennessee.

Point Blank Solutions filed for Chapter 11 on April 14, 2010
(Bankr. D. Del. Case No. 10-11255).

The Company's bankruptcy counsel is Pachulski Stang Ziehl & Jones
LLP.


PRINCETON HOMES: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Princeton Homes, Inc.
        500 Australian Avenue South, #120
        West Palm Beach, FL 33401

Bankruptcy Case No.: 10-31773

Chapter 11 Petition Date: July 28, 2010

Court: U.S. Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Erik P. Kimball

Debtor's Counsel: Robert C. Furr, Esq.
                  2255 Glades Road, #337W
                  Boca Raton, FL 33431
                  Tel: (561) 395-0500
                  Fax: (561) 338-7532
                  E-mail: bnasralla@furrcohen.com

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

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

According to the schedules, the Company says that assets total
$5,852,625 while debts total $10,911,584.

A copy of the Company's list of 20 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/flsb10-31773.pdf

The petition was signed by Sally Larson, assistant vice president
and secretary.


PROTECH HOLDINGS: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Protech Holdings C, LLC
        1801 California Street, Suite 3900
        Denver, CO 80202

Bankruptcy Case No.: 10-12387

Chapter 11 Petition Date: July 29, 2010

Court: U.S. Bankruptcy Court
       District of Delaware (Delaware)

Judge: Christopher S. Sontchi

Debtor's Counsel: Jason M. Madron, Esq.
                  Tel: (302) 651-7595
                  E-mail: madron@rlf.com
                  Mark D. Collins, Esq.
                  Tel: (302) 651-7700
                  E-mail: collins@rlf.com
                  Richards, Layton & Finger, P.A.
                  One Rodney Square
                  P.O. Box 551
                  Wilmington, DE 19899
                  Fax: (302) 651-7701

Estimated Assets: More than $1 billion

Estimated Debts: More than $1 billion

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

The petition was signed by Alisa Kennedy, senior vice president.

Debtor-affiliates filing separate Chapter 11 petition:

        Entity                            Case No.   Petition Date
        ------                            --------   -------------
Summit Crest Ventures, LLC                09-13683        10/25/09
Capmmark Financial Group Inc.             09-13684        10/25/09
Capmark Capital Inc.                      09-13687        10/25/09
Capmark Finance Inc.                      09-13689        10/25/09
Commercial Equity Investments, Inc.       09-13692        10/25/09
Mortgage Investments, LLC                 09-13696        10/25/09
Net Lease Acquisition LLC                 09-13699        10/25/09
SJM Cap, LLC                              09-13701        10/25/09
Capmark Affordable Equity Holdings Inc.   09-13704        10/25/09
Capmark REO Holding LLC                   09-13707        10/25/09
Paramount Managing Member AMBAC II, LLC   09-13710        10/25/09
Paramount Managing Member AMBAC III, LLC  09-13713        10/25/09
Paramount Managing Member AMBAC IV, LLC   09-13716        10/25/09
Paramount Managing Member AMBAC V, LLC    09-13719        10/25/09
Paramount Managing Member LLC             09-13685        10/25/09
Paramount Managing Member II, LLC         09-13686        10/25/09
Paramount Managing Member III, LLC        09-13688        10/25/09
Paramount Managing Member IV, LLC         09-13690        10/25/09
Paramount Managing Member V, LLC          09-13693        10/25/09
Paramount Managing Member VI, LLC         09-13695        10/25/09
Paramount Managing Member VII, LLC        09-13697        10/25/09
Paramount Managing Member VIII, LLC       09-13700        10/25/09
Paramount Managing Member IX, LLC         09-13702        10/25/09
Paramount Managing Member XI, LLC         09-13705        10/25/09
Paramount Managing Member XII, LLC        09-13708        10/25/09
Paramount Managing Member XVIII, LLC      09-13711        10/25/09
Paramount Managing Member XIV, LLC        09-13715        10/25/09
Paramount Managing Member XV, LLC         09-13717        10/25/09
Paramount Managing Member XVI, LLC        09-13720        10/25/09
Paramount Northeastern Mng. Member, LLC   09-13723        10/25/09
Capmark Affordable Properties Inc.        09-13691        10/25/09
Paramount Managing Member XXIII, LLC      09-13694        10/25/09
Paramount Managing Member XXIV, LLC       09-13698        10/25/09
Paramount Managing Member 30, LLC         09-13703        10/25/09
Paramount Managing Member 31              09-13706        10/25/09
Paramount Managing Member 33              09-13709        10/25/09
Broadway Street California, L.P.          09-13712        10/25/09
Broadway Street 2001, L.P.                09-13714        10/25/09
Broadway Street XV, L.P.                  09-13718        10/25/09
Broadway Street XVI, L.P.                 09-13721        10/25/09
Broadway Street XVIII, L.P.               09-13722        10/25/09
Broadway Street Georgia I, LLC            09-13724        10/25/09
Capmark Managing Member 4.5 LLC           09-13725        10/25/09
Capmark Affordable Equity Inc.            09-13726        10/25/09
Capmark Investments LP                    10-10124        01/15/10


REGAL ENTERTAINMENT: Posts $4.8 Million Net Income for June 30 Qtr
------------------------------------------------------------------
Regal Entertainment Group reported fiscal second quarter 2010
results.

The Company reported $2.5 billion in total assets, including
$225.1 million in cash and cash equivalents, against $1.9 billion
in total liabilities, for a $282.3 million total stockholders'
deficit as of July 1, 2010.

Total revenues for the second quarter ended July 1, 2010 were
$730.7 million compared to total revenues of $789.2 million for
the second quarter ended July 2, 2009.  Net income attributable to
controlling interest in the second quarter of 2010, which included
an $11.5 million after-tax loss on debt extinguishment, was $4.8
million compared to $40.5 million in the second quarter of 2009.

Diluted earnings per share was $0.03 for the second quarter of
2010 compared to $0.26 for the second quarter of 2009.  Adjusted
diluted earnings per share was $0.12 for the second quarter of
2010 compared to $0.30 for the second quarter of 2009.  Adjusted
EBITDA was $128.4 million for the second quarter of 2010 and
$167.1 million for the second quarter of 2009.  Reconciliations of
non-GAAP financial measures are provided in the financial
schedules accompanying this press release.

Regal's Board of Directors has declared a cash dividend of $0.18
per Class A and Class B common share, payable on September 17,
2010, to stockholders of record on September 9, 2010.  The Company
intends to pay a regular quarterly dividend for the foreseeable
future at the discretion of the Board of Directors depending on
available cash, anticipated cash needs, overall financial
condition, loan agreement restrictions, future prospects for
earnings and cash flows as well as other relevant factors.

"We continue to be pleased with the pace of our digital cinema and
3D rollout and were happy to complete the acquisition of eight
theatres  from AMC in late June," stated Amy Miles, CEO of Regal
Entertainment Group.  "We are also encouraged by the year-to-date
and early third quarter box office results and the outlook for the
remainder of the year," Ms. Miles continued.

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?6776

                  About Regal Entertainment Group

Based in Knoxville, Tennessee, Regal Entertainment Group (NYSE:
RGC) -- http://www.REGmovies.com/-- is the largest motion picture
exhibitor in the world.  Regal's theatre circuit, comprising Regal
Cinemas, United Artists Theatres and Edwards Theatres, operates
6,739 screens in 545 locations in 38 states and the District of
Columbia.  Regal operates theatres in 43 of the top 50 U.S.
designated market areas.

At April 1, 2010, Regal Entertainment Group had total assets of
$2.588 billion, total liabilities of $2.849 billion, and non-
controlling interest of ($1.1) million, resulting in total deficit
of $260.7 million.

                           *     *     *

As reported by the Troubled Company Reporter on April 26, 2010,
Moody's Investors Service downgraded Regal Entertainment Group's
corporate family and probability of default ratings, each to B1
from Ba3.  The rating action was prompted by gradually
deteriorating coverage measures and, more importantly,
expectations that Regal will continue to record relatively nominal
levels of free cash flow.  Alternatively, should either or both of
top-line or margin expansion cause free cash flow to grow, Moody's
expect Regal to eschew debt reduction and allocate the benefits to
shareholders.


RESORT HOLDINGS: Case Summary & Largest Unsecured Creditor
----------------------------------------------------------
Debtor: Resort Holdings 2, LLC
        6135 S. Rainbow Blvd., Suite 100
        Las Vegas, NV 89118

Bankruptcy Case No.: 10-24150

Chapter 11 Petition Date: July 28, 2010

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

Judge: Bruce A. Markell

Debtor's Counsel: David A. Colvin, Esq.
                  Marquis & Aurbach
                  10001 Park Run Drive
                  Las Vegas, NV 89145
                  Tel: (702) 382-0711
                  E-mail: dcolvin@marquisaurbach.com

Estimated Assets: $0 to $50,000

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

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

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Bank of America, NA       8540 and 8560 S.       $6,375,000
5 Park Place              Eastern Ave.
Suite 1260                Henderson, NV 89074
CA6-503-12-12
Irvine, CA 92614

The petition was signed by Robert C. Hasman, managing member.


REVLON CONSUMER: Posts $18.8 Million Net Income for June 30 Qtr.
----------------------------------------------------------------
Revlon Consumer Products Corporation filed its quarterly report on
Form 10-Q, showing $18.8 million in net income on $327.7 million
net sales for the three months ended June 30, 2010, compared with
$1.8 million net income on $321.8 million net sales for the same
period a year earlier.

The Company's balance sheet at June 30, 2010, revealed
$819.4 million in total assets, $304.9 million in total current
liabilities, $1.1 billion long term debt, $107.0 million long term
debts, $205.3 million long term pension and other post retirement
plan liabilities, and $64.1 million other long-term liabilities,
for a $965.2 million total stockholder's deficit.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?6769

Revlon Consumer Products Corporation operates in a single segment
and manufactures, markets and sells an extensive array of
cosmetics, women's hair color, beauty tools, anti-perspirant
deodorants, fragrances, skincare and other beauty care products.
Products Corporation is a direct wholly-owned operating subsidiary
of Revlon, Inc., which is a direct and indirect majority-owned
subsidiary of MacAndrews & Forbes Holdings Inc., a corporation
wholly-owned by Ronald O. Perelman.


REVLON INC: Posts $16.4 Million Net Income for June 30 Quarter
--------------------------------------------------------------
Revlon Inc. reported results for the second quarter ended June 30,
2010.

Second quarter 2010 results compared to second quarter 2009:

    * Net sales of $327.7 million compared to $321.8 million.
      Excluding unfavorable foreign currency fluctuations of
      $0.5 million, second quarter 2010 net sales increased 2.0%.

    * Operating income of $47.3 million compared to $26.6 million.

    * Net income of $16.4 million, or $0.31 per diluted share,
      compared to $0.2 million, or nil per diluted share.

    * Adjusted EBITDA of $61.7 million compared to $43.0 million.

    * Second quarter 2009 operating income, net income, and
      Adjusted EBITDA included $18.3 million of restructuring
      charges.

    * Positive free cash flow of $5.1 million compared to
      negative free cash flow of $3.0 million.

Revlon President and Chief Executive Officer, Alan T. Ennis, said,
"We continue to execute our business strategy with a keen focus on
building our strong brands and further developing our
organizational capability globally.  In the second quarter of
2010, we delivered improved cash flow and competitive operating
margins, while significantly increasing advertising investment to
enhance our marketplace competitiveness."

Mr. Ennis continued, "A key driver of our business is launching
innovative, high quality consumer preferred products to the global
marketplace. During the quarter, we introduced Revlon Grow
Luscious mascara, Revlon Just Bitten lipstain + balm and Almay One
Coat Dial Up mascara. Additionally, during the quarter, we signed
one of Hollywood's hottest stars, Kate Hudson, as the newest
global brand ambassador for our Almay brand."

Mr. Ennis concluded, "The economic environment remains challenging
and we continue to manage our resources carefully, with a focus on
the long-term, profitable growth of our brands."

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?6779

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?6778

                         About Revlon Inc.

Headquartered in New York City, Revlon, Inc. (NYSE: REV) --
http://www.revloninc.com/-- is a worldwide cosmetics, hair color,
beauty tools, fragrances, skincare, anti-perspirants/deodorants
and personal care products company.  The Company's brands, which
are sold worldwide, include Revlon(R), Almay(R), Mitchum(R),
Charlie(R), Gatineau(R), and Ultima II(R).

At June 30, 2010, the Company's balance sheet showed
$776.0 million in total assets, $308.9 million total current
liabilities, $1.103 billion long-term debt, $58.4 million long-
term debt (affiliates), $205.3 million long term pension
liabilities, and $64.1 million other long term liabilities, for a
$1,011.8 million stockholders' deficiency.


RICHARD GLADSTONE: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Richard J. Gladstone
        6087 NW 23rd Terrace
        Boca Raton, FL 33496

Bankruptcy Case No.: 10-32093

Chapter 11 Petition Date: July 29, 2010

Court: U.S. Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Erik P. Kimball

Debtor's Counsel: Leslie N. Reizes, Esq.
                  1200 S Federal Highway # 301
                  Boynton Bch, FL 33435
                  Tel: (561) 736-2600
                  E-mail: reizes@bellsouth.net

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

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

A copy of the Debtor's list of 20 largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/flsb10-32093.pdf

The petition was signed by the Debtor.


RICHARD GOLDENBERG: Case Summary & 5 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Richard A. Goldenberg
        18 Audubon Place
        New Orleans, LA 70118
        Tel: (310) 880-0337

Bankruptcy Case No.: 10-12728

Chapter 11 Petition Date: July 28, 2010

Court: U.S. Bankruptcy Court
       Eastern District of Louisiana (New Orleans)

Judge: Elizabeth W. Magner

Debtor's Counsel: Gregory J. St. Angelo, Esq.
                  1010 Common Street, Suite 2300
                  New Orleans, LA 70112
                  Tel: (504) 581-9584
                  Fax: (504) 581-9585
                  E-mail: gstangelo@charter.net

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

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

A copy of the Debtor's list of 5 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/laeb10-12728.pdf

The petition was signed by the Debtor.


RIVER ROAD: FDIC Seeks to Intervene in Bankruptcy Case
------------------------------------------------------
Bankruptcy Law360 reports that the Federal Deposit Insurance Corp.
has asked to intervene in River Road Hotel Partners LLC's
bankruptcy to fight for U.S. Bank National Association's right to
credit bid for the debtor's assets, saying it is entitled to
intervene because of its shared-loss agreement with U.S. Bank.

                  About River Road Hotel and RadLAX

River Road Hotel Partners LLC is the owner of the InterContinental
Chicago O'Hare airport hotel.  Affiliate RadLAX Gateway Hotel LLC
owns the Radisson hotel at Los Angeles International Airport.
Both are ultimately controlled owned by Harp Group.

River Road and RadLAX filed Chapter 11 in Chicago in August 2009
(Bankr. N.D. Ill. Case No. 09-30029).  Based in Oak Brook,
Illinois, River Road listed assets of as much as $100 million and
debt of as much as $500 million.


RIVIERA HOLDINGS: S&P Downgrades Corporate Credit Rating to 'D'
---------------------------------------------------------------
Standard & Poor's Ratings Services said it withdrew its ratings on
Las Vegas-based Riviera Holdings Corp.  S&P lowered the corporate
credit rating on the company to 'D' on March 31, 2009, following
the company's announcement that it did not make the interest
payment on its credit facility.

Riviera subsequently filed for bankruptcy protection on July 12,
2010.


ROBINO-BAY COURT: Case Summary & 17 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Robino-Bay Court Plaza, LLC
        102 Robino Court, Suite 301
        Wilmington, DE 19804

Bankruptcy Case No.: 10-12376

Chapter 11 Petition Date: July 28, 2010

Court: U.S. Bankruptcy Court
       District of Delaware (Delaware)

Debtor's Counsel: John D. McLaughlin, Jr., Esq.
                  Ciardi Ciardi & Astin
                  919 North Market Street, Suite 700
                  Wilmington, DE 19801
                  Tel: (302) 658-1100
                  Fax: 302-658-1300
                  E-mail: jmclaughlin@ciardilaw.com

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

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

The petition was signed by Michael Stortini, managing member.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Robino-Bay Court Pad, LLC             10-12377         07/28/10
  Assets: $500,001 to $1,000,000
  Debts: $1,000,001 to $10,000,000

Robino-Bay Court Plaza's List of 17 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
JT Snow Removal, Inc.              Trade Debt              $57,231
2596 Peachtree Run
Dover, DE 19901

Ashley Furniture Homestore         Tenant Security         $38,500
3 Gerald Court                     Deposit
Delmar, DE 19940

Larch Investment LLC               Trade Debt              $15,167
102 Robino Court, Suite 101
Wilmington, DE 19804

Gold's Gym LLC                     Tenant Security          $9,375
                                   Deposit

Sovereign Property Management LLC  Trade Debt               $6,000

Waste Management                   Trade Debt               $4,704

Adel Computers, Inc.               Tenant Security          $3,375
                                   Deposit

City of Dover                      Trade Debt               $2,840

Tan - U, Inc.                      Tenant Security          $2,406
                                   Deposit

Labor Ready, Inc.                  Tenant Security          $1,867
                                   Deposit

Korean Martial Arts Institute      Tenant Security          $1,667
                                   Deposit

Air Max Heating & AC               Trade Debt               $1,317

Joan F. Ingle                      Trade Debt               $1,312

Architectural Interiors, Inc.      Trade Debt               $1,010

Star Nails                         Tenant Security          $1,000
                                   Deposit

Integra Realty Resources           Trade Debt                 $750

A-1 Striping, Inc.                 Trade Debt                 $520


ROSSCO PLAZA: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Rossco Plaza, Inc.
        1721 Central Texas Expressway
        Killeen, TX 76541

Bankruptcy Case No.: 10-60917

Chapter 11 Petition Date: July 28, 2010

Court: United States Bankruptcy Court
       Western District of Texas (Waco)

Judge: Ronald B. King

Debtor's Counsel: Ronald E. Pearson, Esq.
                  2109 Bird Creek Terrace
                  Temple, TX 76502-1083
                  Tel: (254) 778-0699
                  E-mail: Ron@Pearson-lawfirm.com

Scheduled Assets: $6,191,042

Scheduled Debts: $4,576,421

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txwb10-60917.pdf

The petition was signed by Brandon Wolsic, vice-president of
Rossco Holdings, Inc.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Colony Lodging, Inc.                   10-60909   07/27/10
WM Properties, Ltd.                    10-60918   07/28/10
LJR Properties, Ltd.                   10-_____   07/28/10
Monte Nido Estates, LLC                10-_____   07/28/10
Rossco Properties, Inc.                10-_____   07/28/10


ROTHSTEIN ROSENFELDT: Trustee Sues Florida GOP to Recoup Donations
------------------------------------------------------------------
Julie Kay, writing for Daily Business Review, reports that
bankruptcy attorneys for the Scott Rothstein estate filed suit on
July 27 against The Republican Party of Florida, seeking the
repayment of $237,000 in campaign contributions from the jailed
former attorney.  The suit was filed in U.S. Bankruptcy Court in
Fort Lauderdale.

According to Business Review, Berger Singerman, the law firm for
trustee Herbert Stettin, alleges that the Republican Party has
refused to return more than 10 different donations made by
Rothstein over a four-year period.

"The Trustee has made repeated efforts over a period of several
months to resolve this claim without resort to litigation," said
Paul Singerman, Esq., at Berger Singerman in Fort Lauderdale,
according to the report.

The report relates Katie Betta, a spokeswoman for the state
Republicans, said that the party already returned $145,000 to the
U.S. Marshals Service.  That represents donations made by Mr.
Rothstein in the last election cycle.  Donations made prior to
that in past election cycles have already been spent, she said.

                    About Rothstein Rosenfeldt

Scott Rothstein, co-founder of law firm Rothstein Rosenfeldt Adler
PA, has been suspected of running a $1.2 billion Ponzi scheme.
U.S. authorities claimed in a civil forfeiture lawsuit filed
November 9, 2009, that Mr. Rothstein, the firm's former chief
executive officer, sold investments in non-existent legal
settlements.  Mr. Rothstein pleaded guilty to five counts of
conspiracy and wire fraud on January 27, 2010.

Creditors of Rothstein Rosenfeldt Adler signed a petition sending
the Florida law firm to bankruptcy (Bankr. S.D. Fla. Case No.
09-34791).  The petitioners include Bonnie Barnett, who says she
lost $500,000 in legal settlement investments; Aran Development,
Inc., which said it lost $345,000 in investments; and trade
creditor Universal Legal, identified as a recruitment firm, which
said it is owed $7,800.  The creditors alleged being owed money
invested in lawsuit settlements.

Herbert M. Stettin, the state-court appointed receiver for
Rothstein Rosenfeldt, was officially carried over as the Chapter
11 trustee in the involuntary bankruptcy case.

On June 10, 2010, Mr. Rothstein was sentenced to 50 years in
prison.


SALLY BEAUTY: Posts $41.1 Million Net Earnings for June 30 Quarter
------------------------------------------------------------------
Sally Beauty Holdings Inc. reported financial results for the
fiscal 2010 third quarter.

  * Consolidated sales up 10.3% to $743.0 million

  * Consolidated same store sales increased 4.6% compared to 2.6%
    in 3Q09

  * Consolidated gross profit expanded 140 basis points

  * Net earnings of $41.1 million, up 30.6% compared to GAAP net
    earnings of $31.5 million in 3Q09

  * Net earnings growth of 37.1% compared to adjusted net earnings
    of $30.0 million in 3Q09

  * 3Q10 diluted earnings per share of $0.22, up 29.4% compared to
    $0.17 in 3Q09

  * Adjusted EBITDA of $107.8 million, up 12.9%

  * Reduced long-term debt by $54.7 million; Term Loan 'A' prepaid
    in full.

"Strong performance across all of our businesses led to another
outstanding quarter for Sally Beauty Holdings" stated Gary
Winterhalter, President and Chief Executive Officer. "Consolidated
same store sales growth of 4.6% contributed to strong revenue
growth of 10.3% while gross profit margin expanded by 140 basis
points.  And for the first time during a quarter, Adjusted EBITDA
reached the $100 million mark.  Our business is performing in line
with historical trends and we believe that this underscores the
stability and consistency of our business model.  We do not expect
these trends to change in the foreseeable future."

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?677a

Denton, Texas-based Sally Beauty Holdings, Inc. (NYSE: SBH) --
http://www.sallybeauty.com/-- sells professional beauty supplies,
primarily through its Sally Beauty Supply retail stores in the
U.S., Puerto Rico, Mexico, Canada, Chile, Belgium, France, Italy,
the United Kingdom and certain other countries in Europe.

At December 31, 2009, the Company had total assets of
$1.53 billion against total liabilities of $2.11 billion,
resulting in stockholders' deficit of $582 million.

The Company has now reported $1.51 billion in total assets and
$1.58 billion in total liabilities including capital leases, for a
stockholder's deficit of $525.5 million as of June 30, 2010.


SEA LAUNCH: Plan of Reorganization Confirmed
--------------------------------------------
Judge Brendan Linehan Shannon of the Delaware bankruptcy court
entered an order confirming the Second Amended Plan of
Reorganization for Sea Launch Company, L.L.C., and its affiliates,
netDockets Blog reports.  The report relates that the confirmation
hearing was held on July 27.

According to the report, the transactions contemplated by the Plan
will place the vast majority of the reorganized companies' equity
with Rocket & Space Corp. Energia (a/k/a RSC Energia), a Russian
manufacturer of rocket engines.  Prior to the bankruptcy filing,
Boeing owned approximately 40% of the equity in Sea Launch.

Energia will have 95% stake in the reorganized company.

Boeing Co. and Aker Maritime Finance AS have reached a deal with
Sea Launch to resolve their dispute over about $780 million in
debt by giving Boeing and Aker an equity stake of about 5% of the
reorganized company, according to Bankruptcy Law360.  Aker, Boeing
and Boeing affiliate Boeing Commercial Space Co. will together
accept a stake equal to no more than 5% of the new Sea Launch,
Law360 says.

                      About Sea Launch

Sea Launch Company, L.L.C., is a satellite-launch services
provider that offers commercial space launch capabilities from the
Baikonur Space Center in Kazakhstan.  Its owners include Boeing
Co., RSC Energia, and Aker ASA.

Sea Launch filed for Chapter 11 on June 22, 2009 (Bankr. D. Del.
Case No. 09-12153).  Joel A. Waite, Esq., and Kenneth J. Enos,
Esq., at Young, Conaway, Stargatt & Taylor LLP, in Wilmington,
Delaware, serve as the Debtor's counsel.  At the time of the
filing, the Company said its assets range from US$100 million to
US$500 million and debts are at least US$1 billion.


SOUTH BAY: Summary Judgement on Suit vs. Lienholders Declined
-------------------------------------------------------------
Judge Louise DeCarl Adler of the United States Bankruptcy Court
for the Southern District of California denied South Bay
Expressway LP and California Transportation Ventures Inc.'s motion
for summary judgment holding that the mechanic's liens asserted
against the toll road portion of State Road 125, also known as the
South Bay Expressway, are invalid as a matter of law.

Judge Adler granted summary judgment in favor of Otay River
Constructors and Intrans Group, Inc.

In her 22-page memorandum decision, Judge Adler found that the
Debtors own distinct private property interests in the Tollway
arising from their franchise rights and their accompanying 35-year
lease.  She noted that the rights are not deemed to be public
property and the Tollway is not a public work for purposes of
exempting the Debtors' property interests from mechanic's liens.

Since the record establishes the mechanic's liens are asserted
only against the Debtors' property interests, the liens are not
invalid as a matter of law, Judge Adler opined.

                   About South Bay Expressway

South Bay Expressway, L.P., dba San Diego Expressway, L.P., filed
for Chapter 11 on March 22, 2010 (Bankr. S.D. Calif. Case No.
10-04516).  Its affiliate, California Transportation Ventures
Inc., also filed for bankruptcy.

The Debtors developed and operate a four lane, nine mile express
toll road in Southern California commonly referred to as the South
Bay Expressway or State Road 125.  Both estimated assets and debts
of $500 million to $1 billion in their bankruptcy petitions.

Robert Pilmer, Esq., at Kirkland & Ellis LLP, represents the
Debtors in their restructuring effort.  PricewaterhouseCoopers LLP
is auditor and tax advisor.  Imperial Capital LLC is financial
advisor. Epiq Bankruptcy Solutions LLC serves as claims and notice
agent.

The Debtors say that as of the bankruptcy filing, they have
roughly $640 million in book value of total assets and roughly
$570 million in book value of total liabilities.

Bankruptcy Creditors' Service, Inc., publishes South Bay
Expressway Bankruptcy News.  The newsletter tracks the Chapter 11
proceeding undertaken by South Bay Expressway LP and California
Transportation Ventures Inc.  (http://bankrupt.com/newsstand/or
215/945-7000).


STATION CASINOS: Plan Confirmation Hearing Starts August 27
-----------------------------------------------------------
Station Casinos, Inc., and its debtor affiliates delivered to the
U.S. Bankruptcy Court for the District of Nevada their First
Amended Joint Chapter 11 Plan of Reorganization and Disclosure
Statement on July 28, 2010.

The First Amended Plan incorporates a settlement the Debtors
reached with the Official Committee of Unsecured Creditors and
certain of Station's largest bondholders.

As a result of the settlement, the First Amended Plan provides
for, among other things:

  * NPH Warrants -- the warrants to purchase NPH Equity, or
    equity in Holdco, a Delaware limited liability company
    formed by the Mortgage Lenders to serve, as one of the
    equity interest holders in New Propco, to be issued through
    Blockerco to each Eligible Opco Unsecured Creditor;

  * NPH Investment Rights -- the rights to purchase, pursuant to
    the Propco Rights Offering, NPH Equity to be issued through
    Blockerco to each Eligible Opco Unsecured Creditor that is
    an Accredited Investor; and

  * NPH Post-Effective Investment Rights -- the rights to
    purchase NPH Equity to be issued through Blockerco to each
    Qualified Eligible Opco Unsecured Creditor in connection
    with any Post-Effective Equity Raise.

                    Propco Rights Offering

The First Amended Plan incorporates the terms of the Propco
Rights Offering, which contemplates a new money investment by
unsecured creditors of Station of up to $100 million in New
Propco.  To the extent not subscribed to by eligible unsecured
creditors of SCI, the settlement contemplates that the Put
Parties will commit to provide the full amount of the new money
investment pursuant to the Propco Commitment.

"Put Parties" are entities affiliated with Fidelity Management &
Research Company, Oaktree Capital Management, L.P., and Serengeti
Asset Management, L.P.

Pursuant to the terms and subject to the conditions of the Propco
Commitment:

  (a) the Put Parties will have the right to purchase at
      least one-half of the NPH Equity available in the Propco
      Rights Offering;

  (b) to the extent that NPH Equity is not otherwise purchased
      by Eligible Opco Unsecured Creditors, or the Put Parties,
      the Put Parties will purchase $35.3 million of NPH Equity;
      and

  (c) in connection with any Equity Raises consummated during
      the Upsizing Commitment Period, to the extent the NPH
      Equity is not otherwise purchased by Eligible Opco
      Unsecured Creditors, or the Put Parties, the Put Parties
      will purchase the unpurchased portion of each that Equity
      Raise up to a maximum of $100 million.

In consideration for their agreement to the Propco Commitment,
the Put Parties will receive the Put Premium.  The payment of the
Put Premium to the Put Parties on the Effective Date will be
effected in a manner as the Debtors, FG, the Mortgage Lenders and
the Put Parties will reasonably determine.

The Amended Plan provides that only Accredited Investors are
eligible to participate in the Propco Rights Offering and to
receive the NPH Investment Rights and the NPH Post-Effective
Rights in connection therewith, in all cases on the terms and
subject to the conditions of the Plan.  The NPH Investment Rights
and the NPH Post-Effective Rights are not being offered to any
party that is not an Accredited Investor.

                    Transfers to New Propco

Propco's obligations to the Mortgage Lenders are secured by Red
Rock, Palace Station, Boulder Station, and Sunset Station and
certain related assets.  Under the Plan, the Propco Properties
will be transferred to New Propco or one or more of its
subsidiaries as the Mortgage Lenders' designee in satisfaction of
the Mortgage Lenders' existing secured claims against Propco.

In conjunction with these transfers to New Propco under the Plan,
the Mortgage Lenders have agreed to sell up to 50% of the equity
in New Propco to an affiliate of Fertitta Gaming, LLC, a newly-
formed entity owned by Frank Fertitta III and Lorenzo Fertitta
for a purchase price of $85 million in cash.

                        Classes of Claims

Under the First Amended Plan, any holder of a Class S.2 Claim
that votes to accept the Plan will not be an Eligible Opco
Unsecured Creditor and will be deemed to have elected to waive
any and all rights to receive any distributions on account of its
Class S.4 deficiency claim and therefore will not receive any NPH
Warrants and will not have any rights to participate in the
Propco Rights Offering, any Equity Raise or in any NPH Post-
Effective Investment Rights on account of its Class S.4
deficiency claim.

Classes S.4, General Unsecured Claims; S.5, Senior Notes Claims;
and S.6, Subordinated Notes Claims against SCI are entitled to
vote on the Plan.

                  Exemption from Registration

Pursuant to Section 1145 of the Bankruptcy Code, the issuance of
any securities or interests on account of, and in exchange for
the Claims against the Debtors will be exempt from registration
pursuant to Section 5 of the Securities Act of 1933, as amended,
and any other applicable non-bankruptcy law or regulation.

            Cancellation of Securities and Agreements

On the Effective Date, all notes, stock, instruments,
certificates, agreements and other documents evidencing Claims
and Equity Interests will be canceled, and the obligations of the
Debtors will be fully released, terminated, extinguished and
discharged, in each case without further notice to or order of
the Bankruptcy Court.

On the Effective Date, the Senior Notes Indentures and the
Subordinated Notes Indentures each will be deemed to be canceled,
as permitted by Section 1123(a)(5)(F) of the Bankruptcy Code, and
the obligations of the Debtors hereunder will be fully released,
terminated, extinguished and discharged.

The Debtors relate that the First Amended Plan has the support
from the Opco Agent, the Mortgage Lenders and the Mezzanine
Lenders, the Committee and the Put Parties.

Under the Debtors' original reorganization plan filed in March,
Fertitta Gaming would own 46% of the new company, Deutsche Bank
and JP Morgan would control 50% and Colony Capital LLC would own
4% of the company.

Fertitta Gaming would operate the casinos under a 25-year
management contract that would pay the company 2 percent of the
properties' revenues and 5 percent of the properties' cash flow.

"We are extremely pleased to have reached an agreement with the
unsecured creditors' committee," Marc Falcone, chief financial
officer of Fertitta Gaming LLC, told Bloomberg News.  "The
committee has negotiated for and obtained modifications to the
plan including provisions that will result in a recovery to
(Station Casinos') unsecured creditors," Station said in court
papers.

A full-text copy of the First Amended Plan is available for free
at http://bankrupt.com/misc/SCI_1stAmPlan728.pdf

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

         http://bankrupt.com/misc/SCI_1stAmDS728.pdf

A redlined copy of the First Amended Plan is available for free
at http://bankrupt.com/misc/SCI_Red1stAmPlan728.pdf

A redlined copy of the First Amended Disclosure Statement is
available for free at:

         http://bankrupt.com/misc/SCI_Red1stAmDS728.pdf

                        Amended Exhibits

The Debtors also delivered to the Court their Second Amended
Notice of schedules and exhibits to Disclosure Statement which
contain:

  * List of Debtors
  * Opco Group Sellers
  * The Plan
  * Schematic of Restructuring Transactions
  * Liquidation Analysis
  * Projected Financial Information
  * New Propco Holdco Term Sheet

Full-text copies of the exhibits are available for free
at http://bankrupt.com/misc/SCI_DSExhibits728.pdf

                     August 27 & 30 Plan Hearing

Judge Gregg W. Zive of the U.S. Bankruptcy Court for the District
of Nevada will convene a hearing on August 27 and 30, 2010,
commencing at 10:00 a.m. prevailing Pacific Time, to consider
confirmation of the Debtors' Plan.  Objections to confirmation of
the Plan are due August 12.

              Amended Disclosure Statement Order

Judge Gregg W. Zive of the U.S. Bankruptcy Court for the District
of Nevada amended on July 28, 2010, the order approving the
Disclosure Statement explaining the Debtors' Plan of
Reorganization.  The Amended Order approved the Disclosure
Statement filed by the Debtors on July 28.

The Amended Order was a result of the recent settlement resolving
the dispute between the Debtors and the Official Committee of
Unsecured Creditors regarding the Plan.  The Debtors filed with
the Court on July 28 their First Amended Plan of Reorganization
and accompanying Disclosure Statement to reflect the terms of
that settlement.

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

          http://bankrupt.com/misc/SCI_AmendedDSOrd729.pdf

                       About Station Casinos

Station Casinos, Inc., is a gaming and entertainment company that
currently owns and operates nine major hotel/casino properties
(one of which is 50% owned) and eight smaller casino properties
(three of which are 50% owned), in the Las Vegas metropolitan
area, as well as manages a casino for a Native American tribe.

The Company owns and operates Red Rock Casino Resort Spa, Palace
Station Hotel & Casino, Boulder Station Hotel & Casino, Santa Fe
Station Hotel & Casino, Wildfire Rancho and Wild Wild West
Gambling Hall & Hotel in Las Vegas, Nevada, Texas Station Gambling
Hall & Hotel and Fiesta Rancho Casino Hotel in North Las Vegas,
Nevada, and Sunset Station Hotel & Casino, Fiesta Henderson Casino
Hotel, Wildfire Boulder, Gold Rush Casino and Lake Mead Casino in
Henderson, Nevada.  Station also owns a 50% interest in Green
Valley Ranch Station Casino, Aliante Station Casino and Hotel,
Barley's Casino & Brewing Company, The Greens and Wildfire Lanes
in Henderson, Nevada and a 6.7% interest in the joint venture that
owns the Palms Casino Resort in Las Vegas, Nevada.  In addition,
the Company manages Thunder Valley Casino near Sacramento,
California on behalf of the United Auburn Indian Community.

Station Casinos Inc., together with its affiliates, filed for
Chapter 11 on July 28, 2009 (Bankr. D. Nev. Case No. 09-52477).
Station Casinos has hired Milbank, Tweed, Hadley & McCloy LLP as
legal counsel in the Chapter 11 case; Brownstein Hyatt Farber
Schreck, LLP, as regulatory counsel; and Lewis and Roca LLP as
local counsel.  The Debtor is also hiring Lazard Freres & Co. LLC
as investment banker and financial advisor.  Kurtzman Carson
Consultants LLC is the claims and noticing agent.

In its bankruptcy petition, Station Casinos said that it had
assets of $5,725,001,325 against debts of $6,482,637,653 as of
June 30, 2009.  About 4,378,929,997 of its liabilities constitute
unsecured or subordinated debt securities.

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


STATION CASINOS: S&P Withdraws 'D' Corporate Credit Rating
----------------------------------------------------------
Standard & Poor's Ratings Services said it withdrew its ratings on
Las Vegas-based Station Casinos Inc. S&P lowered its corporate
credit rating on the company to 'D' on Feb. 4, 2009, following the
company's announcement that it did not make the Feb. 1, 2009
interest payment on its 6.5% senior subordinated notes.

Station subsequently filed for bankruptcy protection on July 28,
2009, and S&P expects the company to emerge from bankruptcy in the
next several months.


STORM KING: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Storm King Golf Club, Inc.
        P.O. Box 523
        Cornwall, NY 12518

Bankruptcy Case No.: 10-37256

Chapter 11 Petition Date: July 28, 2010

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

Judge: Cecelia G. Morris

Debtor's Counsel: Lewis D. Wrobel, Esq.
                  12 Raymond Avenue
                  Poughkeepsie, NY 12603
                  Tel: (845) 473-5411
                  Fax: (845) 473-3430
                  E-mail: lewiswrobel@verizon.net

Scheduled Assets: $12.117,126

Scheduled Debts: $1,725,855

The petition was signed by Thomas J. Fenton, president.

Debtor's List of 20 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Raymond Mellin            Bond                   $20,000
65 Currie Road, Apt. H3
Cornwall on Hudson, NY
12520

Harrell's LLC             Vendor                 $14,136
Attn. President
P.O. Box 807
Lakeland, FL 33802

Richard & Rosemarie       Bond                   $6,000
Smith
8 Idlewild Park Drive
Cornwall on Hudson, NY
12520

R. Keith Maloney          Bond                   $5,000

Robert Melvin             Bond                   $5,000

Robert Melvin             Bond                   $5,000

Tom Fenton                Bond                   $5,000

Matrix Turf Solutions     Vendor                 $4,630

Bill & Linda Pinder       Bond                   $4,000

Matthew Mirabile          Bond                   $3,000

Phil & Joan Connolly      Bond                   $3,000

Bruce Shapiro             Bond                   $3,000

Richard L. Fox            Bond                   $3,000

Richard Thorpe            Bond                   $3,000

Anthony Wolanski          Bond                   $2,000

Greg & Leonora Ransom     Bond                   $2,000

Lee & Jaci Murphy         Bond                   $2,000

Mark Henderson            Bond                   $2,000

Thomas & Jana Howe        Bond                   $2,000

Timothy O'Rourke          Bond                   $2,000


STRATEGIC PARTNERS: S&P Assigns 'B' Rating on Senior Bank Loan
--------------------------------------------------------------
S&P rates Strategic Partners Inc. a preliminary rating at 'B' and
assigns preliminary rating on senior secured bank facility at 'B'.

U.S. apparel manufacturer Strategic Partners' proposed financing
of its acquisition by BAML Capital Partners results in a
meaningfully weaker financial profile, but extends debt
maturities.

S&P is assigning its preliminary 'B' corporate credit rating to
Strategic Partners and its preliminary 'B' issue rating to the
company's proposed $205 million senior secured bank credit
facility.

The stable outlook reflects S&P's expectation that pro forma
credit measures will steadily improve from a combination of EBITDA
growth and debt reduction.


SUMMIT HOTEL: Inks Amended Loan Agreement with First Nat'l Bank
---------------------------------------------------------------
Summit Hotel Properties LLC entered into a Third Amendment of
First Amended and Restated Loan Agreement related to its credit
pool line of credit with First National Bank of Omaha.

The Credit Pool is for the purpose of providing interim financing
for existing, newly acquired and constructed hotels.  Each loan
from the Credit Pool is classified as either a Pool One loan or a
Pool Two loan.  Loans from Pool One pay interest only for a
maximum of two years.  Loans from Pool Two are for a term of five
years, and principal and interest payments are based upon a
twenty-year amortization schedule.

The interest rate for Pool One loans is 90-day LIBOR plus 4.0%,
with a floor of 5.50%; the interest rate for Pool Two loans is 90-
day LIBOR plus 4.0%, with a floor of 5.25%. The Credit Pool
carries a covenant that the Company may not exceed an aggregate of
$450 million outstanding debt without the prior approval of the
lender.  The company said, "We are further required to maintain a
minimum aggregate debt service coverage ratio of 1.50 to 1.00.
The Third Amendment of First Amended and Restated Loan Agreement
extends the maturity date of the Credit Pool from July 24, 2010 to
August 15, 2010."

In addition, the company entered into a Second Amendment of First
Amended and Restated Loan Agreement related to its acquisition
line of credit with First National Bank of Omaha.

The Acquisition Line is for the purpose of temporarily funding
acquisitions and construction of new hotels.  The Acquisition Line
carries an interest rate at 90-day LIBOR plus 4.0%, with a floor
of 5.5%.  The borrowings under the Acquisition Line are repaid as
permanent financing and equity sources for such acquisitions are
secured.  The principal amount of the Acquisition Line is $28.2
million, which is roughly equivalent to the current amount
outstanding under the Acquisition Line, and amounts outstanding
under letters of credit issued by First National Bank of Omaha.

The Company is restricted from taking additional advances under
the Acquisition Line.  The Acquisition Line carries a covenant
that the Company may not exceed an aggregate of $450 million
outstanding debt without the prior approval of the lender.  The
company said, "We are further required to maintain a minimum
aggregate debt service coverage ratio of 1.50 to 1.00.  The Second
Amendment of First Amended and Restated Loan Agreement extends the
maturity date of the Acquisition Line from July 24, 2010 to
August 15, 2010."

A full-text copy of the company's Third Amendment of First Amended
and Restated Loan Agreement is available for free at:

               http://ResearchArchives.com/t/s?6766

A full-text copy of the Second Amendment of First Amended and
Restated Loan Agreement is available for free at:

               http://ResearchArchives.com/t/s?6767

                       About Summit Hotel

Summit Hotel Properties, LLC is a developer, owner and manager of
hotels categorized as mid-scale without food and beverage and
upscale hotels located throughout the United States.  As of
December 31, 2009, the Company owned 65 hotels in 19 states. The
Company's revenues and earnings are derived from hotel operations
of its owned hotels.  An affiliate, The Summit Group, Inc.,
provides a number of services for its hotels, including hotel
operations management, location of acquisition targets and
construction sites, development of construction sites, and
construction supervision.  As of December 31, 2009, Summit Hotel
Properties had two wholly owned limited liability companies that
own hotel properties.  Summit Hospitality I, LLC owns 25 of the
Company's hotels.  In addition, Summit Hospitality V, LLC, is a
wholly owned subsidiary, which owns 13 of the Company's hotels.

                           *     *     *

According to the Troubled Company Reporter on April 29, 2010,
Summit Hotel Properties, LLC's forbearance agreement with Fortress
Credit Corp. has expired on May 3.


SUNSHINE ENERGY: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Sunshine Energy KY I, LLC
        112-122 West Myrtle
        Independence, KS 67301

Bankruptcy Case No.: 10-51942

Chapter 11 Petition Date: July 28, 2010

Court: United States Bankruptcy Court
       Eastern District of Tennessee (Greeneville)

Judge: Marcia Phillips Parsons

Debtor's Counsel: Mark S. Dessauer, Esq.
                  Hunter, Smith & Davis
                  1212 North Eastman Road
                  P.O. Box 3740
                  Kingsport, TN 37664
                  Tel: (423) 378-8840
                  Fax: (423) 378-8801
                  E-mail: dessauer@hsdlaw.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 Gary s. Greene, manager.


SUNWEST MANAGEMENT: Marcus Completes Sale of Willow Creek
---------------------------------------------------------
Jacob Gehl of Marcus & Millichap's Chicago Downtown Senior Housing
Group has successfully completed the sale of Willow Creek, a 116
unit Alzheimer's and assisted living facility in the Phoenix
suburb of Youngtown, Arizona.  The asset sold for a price of
$7,100,000 or $61,200 per unit.  The seller was Salem, Oregon
based Sunwest Management.  Sunwest is currently operating under a
federal bankruptcy, and the property was sold via a 363 auction.

"We are extremely pleased with the outcome of this sale"
The buyer, Ventana Winds, LLC, is a joint venture between New York
real estate mogul Jeffrey Levine and John Berry, the owner of the
Scottsdale-based senior housing company The Hampton Group.  Mr.
Levine is also the chairman of Levine Builders, and Douglaston
Development.  Mr. Levine's impressive resume includes the
development of the high profile Gansevoort Hotel in NYC's
Meatpacking District, and is credited with helping to redevelop
the Downtown Brooklyn waterfront in Williamsburg.

"We are extremely pleased with the outcome of this sale," said
Jacob.  "The Sunwest bankruptcy sales process is not easy, and
this was not an easy transaction."  Aside from the typical
challenges associated with any bankruptcy sale, Sunwest had
defaulted on their first mortgage on Willow Creek, and the debt
level exceeded the buyer's purchase price.  There were also
structural problems with the building as well as licensure issues.
The Department of Health Services had been threatening to
decertify the building for a number of reasons.

"We really needed the existing lender and the Arizona Department
of Health Services to play ball," Gehl added.  "Getting this deal
done required a lot of people working together both inside of the
bankruptcy as well as locally in Phoenix.  Fortunately Mr. Levine
and Mr. Berry are both veteran real estate dealmakers, and they
have a reputation in Arizona for providing outstanding care at
their other facilities.  Their experience and resources made this
transaction run as smoothly as possible."

The Hampton Group will begin managing Willow Creek immediately,
and will also commence an immediate renovation of the property.
All of the deferred maintenance will be cured by the end of the
year.  Seth Norman Kahn, Executive Vice President of Northland
Networks, coordinated the financing for the buyer.  David Guido,
Marcus & Millichap's Arizona Broker of Record, also assisted in
the transaction.

The Gehl, Firestone & Dole Group of Marcus & Millichap is a team
of real estate investment professionals focused on senior housing
properties throughout the country with an emphasis on exclusive
seller representation.  We provide our clients with direct access
to the largest pool of qualified institutional and private
investors.  With more than $800 million dollars in investment
transactions completed, our group continues to exceed clients'
expectations and deliver the consistent results that have made us
an industry leader.

                  About Sunwest Management

Founded in Oregon in 1991, Sunwest Management --
http://www.sunwestmanagement.com/-- remains one of the largest
private senior living providers in the country and is a
significant Oregon employer.  In 2008, the company engaged
Hamstreet & Associates and Alvarez & Marsal to serve as financial
advisors.  Clyde Hamstreet is founder and principal of Hamstreet &
Associates, a Portland-based, nationally recognized turnaround
firm that is leading the effort to provide quality care, preserve
value, and help Sunwest meet its obligations to creditors and
investors.  Michael Grassmueck is the founder and principal of
Grassmueck Group, a national firm that specializes in fiduciary
and insolvency services, which is based in Portland, Ore.  He has
served as a trustee in bankruptcy and as fiduciary in the state
and federal courts in thousands of cases for more than 25 years.

In March 2009, U.S. District Judge Michael Hogan appointed Michael
Grassmueck as receiver after the Securities and Exchange
Commission filed suit against Sunwest and former CEO Jon Harder,
alleging securities fraud.

The Company engaged Clyde Hamstreet as chief restructuring officer
in late November 2008 to serve as CRO, an appointment continued in
March by the U.S. District Court after the SEC lawsuit was filed.

Sunwest Management has put 10 assisted living centers -- two in
Oregon -- into Chapter 11 bankruptcy.  Briarwood Retirement and
Assisted Living Community LLC, which owns a retirement center in
Springfield, and Century Fields Retirement and Assisted Living
Community LLC, which owns a center in Lebanon, filed for Chapter
11 on Aug. 19, 2008.  On Aug. 17, 2008, eight Sunwest-affiliated
LLCs filed for Chapter 11 bankruptcy protection from creditors in
Tennessee.


TENNECO INC: Fitch Upgrades Issuer Default Rating to 'BB-'
----------------------------------------------------------
Fitch Ratings has upgraded Tenneco Inc.'s Issuer Default Rating to
'BB-' from 'B+'.  In addition, Fitch has upgraded TEN's senior
unsecured notes to 'B+', and Fitch now rates TEN's new unsecured
notes due 2018 'B+'.

Fitch has taken these rating actions on TEN:

  -- Issuer Default Rating upgraded to 'BB-' from 'B+';

  -- Senior secured revolving credit facility affirmed at 'BB+';

  -- Senior secured term loan B affirmed at 'BB+';

  -- Senior secured tranche B-1 letter of credit/revolving loan
     facility affirmed at 'BB+';

  -- Senior secured second lien notes affirmed at 'BB';

  -- Senior unsecured notes upgraded to 'B+' from 'B-/RR6';

  -- New senior unsecured notes rated 'B+';

  -- Subordinated notes upgraded to 'B' from 'B-/RR6'.

In accordance with Fitch's published methodology, the Recovery
Ratings on all issues for TEN will no longer be published.

The Rating Outlook is Stable.  On a pro forma basis, approximately
$1.2 billion of debt outstanding is covered by these ratings.

The upgraded ratings are supported by reduced leverage, increases
in profits, healthy liquidity, the improved automotive
environment, and no near-term debt maturities once the second lien
notes are called.  EBITDA and margins have significantly improved
over the last few quarters on improved global light vehicle
production and successful cost cutting initiatives at the company.

The ratings are also driven by TEN's strong liquidity position and
the outlook for significant revenue growth over the next several
years.  This is due to expectations for higher light vehicle
production globally and new opportunities for sales to commercial
vehicles, which TEN has forecasted will be a significant addition
to original equipment revenues going forward.  Furthermore, during
2009 the company took restructuring actions to increase operating
efficiencies and enhance margins as already demonstrated in recent
quarters.  Fitch believes the free cash flow outlook has also
improved, although absolute cash flow levels are still relatively
low due to working capital investments.

The Stable Outlook is driven by Fitch's view that the company's
credit profile has improved sufficiently to withstand weaker
industry conditions if they were to develop, although Fitch's
current industry outlook is for continued production growth.  A
Positive Outlook may be warranted if global vehicle production
shows stability and if the company can generate positive free cash
flow more consistently.

Concerns remain centered on revenue concentration in Europe given
Fitch's outlook for vehicle production to fall 8%-12% in 2010 in
the region.  Europe, South America and India accounted for 48% of
TEN's sales in 2009 and 40% in the second quarter of 2010.  Other
concerns include the company's underfunded pension plan, which in
the U.S. was only 58% funded at year-end 2009 or $142 million
underfunded.  Foreign pension plans were 79% funded or $71 million
underfunded.  TEN plans to contribute $54 million to the global
pension plans in 2010.  There is also the possibility that working
capital requirements may negatively impact free cash flow as a
result of significant revenue growth.

TEN plans to refinance the $245 million of senior secured second
lien notes with the new $225 million of senior unsecured notes.
The unsecured notes will rank pari passu with the existing
$250 million unsecured notes due in 2015.  Fitch will withdraw the
rating on the senior secured second lien notes once they have been
successfully redeemed.  The rating actions are based on the
assumption that all of the second lien notes are called.

With the new notes, TEN continues to push back debt maturities.
The redemption of the 2013s will also result in the extension of
the revolver's maturity date.  The $622 million revolver extends
until March 2012 and includes a $50 million accordion.  In March
2012, $66 million of commitments will expire and the remaining
commitments of $556 million will extend until May 2014.

Liquidity at the end of 2Q'10 was $821 million which consisted of
$146 million of cash on the balance sheet and $675 million on the
revolving credit facilities after accounting for $25 million of
borrowings and $52 million of letters of credit.  In addition, the
company has two U.S. accounts receivable programs which can be
used up to $150 million.  At the end of the recent quarter, none
of the accounts receivable program was utilized versus
$127 million at the end of the prior quarter (the receivables are
treated as debt on the balance sheet effective as of Jan. 1, 2010,
according to accounting rules).  TEN also has European accounts
receivable programs which benefit the company's liquidity
position; some of these European programs can be cancelled with 90
days notice and some can be cancelled with notice of 15 days or
less.  At the end of 2Q'10, TEN had $105 million on its European
receivables programs.  These facilities are not treated as debt on
the balance sheet.

Leverage at the end of the second quarter of 2010 was 2.43 times
which is a full turn better than leverage of 3.4x at the end of
2009.  Free cash flow has been negative in two of the last four
years.  In 2009, free cash flow was $121 million largely driven by
lower capital expenditures.  For the latest 12 months ending with
the second quarter of 2010, free cash flow was $131 million.  TEN
has made efforts to better manage working capital needs which may
benefit results as capital needs grow with revenues.  In 2010, the
company plans to spend $160 million on capital expenditures to
support future growth.  In 2009, spending for capital expenditures
was $120 million; in 2008 it was $233 million.

The concern regarding sales concentration to Europe is mitigated
by TEN's somewhat diverse sales mix.  Sales to the original
equipment manufacturers accounted for approximately 78% of sales
and aftermarket sales contributed 22% to the top line in 2009.
Furthermore, Fitch believes that material new wins, particularly
in the non-automotive area, should provide solid top-line growth
over the next several years in the event of continued weakness in
automotive production.

Over the longer term, TEN's position in the emissions segment
positions the company well to expand its customer base and
volumes.  Also over a longer time horizon, product demand should
increase given plans for tighter emission standards and expected
growth in revenues and profits that should come from TEN's
migration to more technological, value-added products which should
also support margins.


TENNECO INC: Fitch Upgrades Issuer Default Rating to 'BB-'
----------------------------------------------------------
Fitch Ratings has upgraded Tenneco Inc.'s Issuer Default Rating to
'BB-' from 'B+'.  In addition, Fitch has upgraded TEN's senior
unsecured notes to 'B+', and Fitch now rates TEN's new unsecured
notes due 2018 'B+'.

Fitch has taken these rating actions on TEN:

  -- Issuer Default Rating upgraded to 'BB-' from 'B+';

  -- Senior secured revolving credit facility affirmed at 'BB+';

  -- Senior secured term loan B affirmed at 'BB+';

  -- Senior secured tranche B-1 letter of credit/revolving loan
     facility affirmed at 'BB+';

  -- Senior secured second lien notes affirmed at 'BB';

  -- Senior unsecured notes upgraded to 'B+' from 'B-/RR6';

  -- New senior unsecured notes rated 'B+';

  -- Subordinated notes upgraded to 'B' from 'B-/RR6'.

In accordance with Fitch's published methodology, the Recovery
Ratings on all issues for TEN will no longer be published.

The Rating Outlook is Stable.  On a pro forma basis, approximately
$1.2 billion of debt outstanding is covered by these ratings.

The upgraded ratings are supported by reduced leverage, increases
in profits, healthy liquidity, the improved automotive
environment, and no near-term debt maturities once the second lien
notes are called.  EBITDA and margins have significantly improved
over the last few quarters on improved global light vehicle
production and successful cost cutting initiatives at the company.

The ratings are also driven by TEN's strong liquidity position and
the outlook for significant revenue growth over the next several
years.  This is due to expectations for higher light vehicle
production globally and new opportunities for sales to commercial
vehicles, which TEN has forecasted will be a significant addition
to original equipment revenues going forward.  Furthermore, during
2009 the company took restructuring actions to increase operating
efficiencies and enhance margins as already demonstrated in recent
quarters.  Fitch believes the free cash flow outlook has also
improved, although absolute cash flow levels are still relatively
low due to working capital investments.

The Stable Outlook is driven by Fitch's view that the company's
credit profile has improved sufficiently to withstand weaker
industry conditions if they were to develop, although Fitch's
current industry outlook is for continued production growth.  A
Positive Outlook may be warranted if global vehicle production
shows stability and if the company can generate positive free cash
flow more consistently.

Concerns remain centered on revenue concentration in Europe given
Fitch's outlook for vehicle production to fall 8%-12% in 2010 in
the region.  Europe, South America and India accounted for 48% of
TEN's sales in 2009 and 40% in the second quarter of 2010.  Other
concerns include the company's underfunded pension plan, which in
the U.S. was only 58% funded at year-end 2009 or $142 million
underfunded.  Foreign pension plans were 79% funded or $71 million
underfunded.  TEN plans to contribute $54 million to the global
pension plans in 2010.  There is also the possibility that working
capital requirements may negatively impact free cash flow as a
result of significant revenue growth.

TEN plans to refinance the $245 million of senior secured second
lien notes with the new $225 million of senior unsecured notes.
The unsecured notes will rank pari passu with the existing
$250 million unsecured notes due in 2015.  Fitch will withdraw the
rating on the senior secured second lien notes once they have been
successfully redeemed.  The rating actions are based on the
assumption that all of the second lien notes are called.

With the new notes, TEN continues to push back debt maturities.
The redemption of the 2013s will also result in the extension of
the revolver's maturity date.  The $622 million revolver extends
until March 2012 and includes a $50 million accordion.  In March
2012, $66 million of commitments will expire and the remaining
commitments of $556 million will extend until May 2014.

Liquidity at the end of 2Q'10 was $821 million which consisted of
$146 million of cash on the balance sheet and $675 million on the
revolving credit facilities after accounting for $25 million of
borrowings and $52 million of letters of credit.  In addition, the
company has two U.S. accounts receivable programs which can be
used up to $150 million.  At the end of the recent quarter, none
of the accounts receivable program was utilized versus
$127 million at the end of the prior quarter (the receivables are
treated as debt on the balance sheet effective as of Jan. 1, 2010,
according to accounting rules).  TEN also has European accounts
receivable programs which benefit the company's liquidity
position; some of these European programs can be cancelled with 90
days notice and some can be cancelled with notice of 15 days or
less.  At the end of 2Q'10, TEN had $105 million on its European
receivables programs.  These facilities are not treated as debt on
the balance sheet.

Leverage at the end of the second quarter of 2010 was 2.43 times
which is a full turn better than leverage of 3.4x at the end of
2009.  Free cash flow has been negative in two of the last four
years.  In 2009, free cash flow was $121 million largely driven by
lower capital expenditures.  For the latest 12 months ending with
the second quarter of 2010, free cash flow was $131 million.  TEN
has made efforts to better manage working capital needs which may
benefit results as capital needs grow with revenues.  In 2010, the
company plans to spend $160 million on capital expenditures to
support future growth.  In 2009, spending for capital expenditures
was $120 million; in 2008 it was $233 million.

The concern regarding sales concentration to Europe is mitigated
by TEN's somewhat diverse sales mix.  Sales to the original
equipment manufacturers accounted for approximately 78% of sales
and aftermarket sales contributed 22% to the top line in 2009.
Furthermore, Fitch believes that material new wins, particularly
in the non-automotive area, should provide solid top-line growth
over the next several years in the event of continued weakness in
automotive production.

Over the longer term, TEN's position in the emissions segment
positions the company well to expand its customer base and
volumes.  Also over a longer time horizon, product demand should
increase given plans for tighter emission standards and expected
growth in revenues and profits that should come from TEN's
migration to more technological, value-added products which should
also support margins.


TERESA GUIDICE: Auction of Assets Set for August 22
---------------------------------------------------
Dawn Wotapka, writing for The Wall Street Journal, reports that
the contents of Teresa and Joe Giudice's 10,000-square-foot New
Jersey mansion are scheduled for auction on Aug. 22.

According to Ms. Wotapka, it was originally a local affair but
auction house A.J. Willner says it received so many inquiries from
around the world, it decided to add an online component.

According to the report, potential bidders can register at
Proxibid, a Web site that does as many as 800 auctions a month and
reports bidders from 175 countries.

Teresa Giudice, actor in the "The Real Housewives of New Jersey,"
and her husband, filed for bankruptcy protection last fall.


TEXAS RANGERS: Court Won't Cancel Auction Despite New Offer
-----------------------------------------------------------
Bill Rochelle at Bloomberg News reports that an increased offer
for the Texas Rangers baseball club failed to persuade the
bankruptcy judge at the July 30 hearing to cancel the auction
scheduled for Aug. 4.  The team told U.S. Bankruptcy Judge Michael
Lynn that the stalking horse would increase its offer a second
time if the judge awarded the club to the group, which includes
current President Nolan Ryan and sports lawyer Chuck Greenberg.

According to the Bloomberg report, a lawyer for Mark Cuban, the
owner of the Dallas Mavericks professional basketball team, said
in court that his client is prepared to participate in the
auction.  Judge Lynn was also told that some of Mr. Cuban's
financing will come from the Rangers' secured lenders who are owed
$525 million, not including unpaid interest.

                        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: News Corp. Mulls Bid; Cuban-Monarch Tie-Up Seen
--------------------------------------------------------------
Josh Kosman at The New York Post reports that News Corp., is
weighing a bid for the Texas Rangers.  Sources close to the
situation told the Post, News Corp. hasn't decided whether it will
bid at the August 4 auction, but is said to be leaning toward
making an offer.

Mr. Kosman said it could not be learned if News Corp., whose Fox
Sports Southwest unit owns television rights to the team, would
bid independently or as part of a group.

Bidding for the Rangers will begin at $307 million, but a winning
bid may be $100 million higher -- or more.

Meanwhile, Evan Grant at The Dallas Morning News, citing an
Internet report Saturday, relates that Monarch Alternative Capital
-- the private equity firm that forced the Rangers to declare
bankruptcy to try to finalize a sale to a group headed by
Pittsburgh sports consultant Chuck Greenberg and Nolan Ryan -- may
be working with Dallas Mavericks owner Mark Cuban on the Rangers
purchase.

Dallas Morning News relates Mr. Cuban has acknowledged having
purchased less than $1 million in Rangers/Hicks Sports Group
outstanding debt last year.  He has declined to comment on any
relationship with Monarch.  Mr. Cuban said he bought the debt when
he first considered buying the Rangers so he could get a closer
look at the team's financial situation.  He said he has not bought
any debt since.

One source told the NY Post that Mr. Cuban is attracted to the
Rangers team because it would allow him to create a regional
sports network to broadcast both Mavericks and Rangers games.  He
could also put the games on HDNet, the high-definition cable
network he controls, the source added.

Fox Sports Southwest, one of the division's regional cable
channels, carries Rangers, Mavericks and Dallas Stars hockey
games.  Although the contract doesn't expire for another four
years, Fox doesn't want to risk losing the Rangers TV rights,
sources told the Post.

One source also told the Post Fox pays the Rangers about $35
million a year to broadcast their games. That figure could go much
higher given the first-place team's rising popularity and ratings,
he said.

According to NY Post, by acquiring the Rangers, which sources said
could fetch around $550 million in the court-ordered auction on
Wednesday, News Corp. could save itself enough in broadcasting
fees that the team would pay for itself in little over a decade.

News Corp. owns the LA Dodgers from 1998 to 2004.  News Corp. owns
Fox Sports and The Post.

                             363 Sale

As reported by the Troubled Company Reporter on July 29, 2010,
Eric Morath at Dow Jones Daily Bankruptcy Review said the Texas
Rangers baseball team has proposed to tweak procedures governing
the auction and sale of its assets.  The Debtor wants to allow
potential purchasers to buy the franchise through a sale under
Section 363 of the Bankruptcy Code, rather than through a Chapter
11 plan process.

Mr. Morath said the move came at the urging of Judge D. Michael
Lynn, who asked the Rangers to submit such a motion during a
hearing held last week.  Mr. Morath explained that structuring a
bid as a 363 sale may make it easier for a bidder to pick and
choose the assets and obligations it would acquire.  A 363 sale,
Mr. Morath said, allows a buyer to acquire assets free of any
liens or encumbrances.  The consideration paid would be left with
the bankruptcy estate for distribution to creditors.

                        About Texas Rangers

Texas Rangers Baseball Partners owns and operates the Texas
Rangers Major League Baseball Club, a professional baseball club
in the Dallas/Fort Worth Metroplex.  TRBP is a Texas general
partnership, in which subsidiaries of HSG Sports Group LLC own a
100% stake.  Controlled by Thomas O. Hicks, HSG also indirectly
wholly-owns Dallas Stars, L.P., which owns and operates the Dallas
Stars National Hockey League franchise.  The Texas Rangers have
had five owners since the club moved to Arlington in 1972.  Mr.
Hicks became the fifth owner in the history of the Texas Rangers
on June 16, 1998.

In its petition, Texas Rangers Baseball Partners said it had both
assets and debt of less than $500 million.

Weil, Gotshal & Manges LLP serves as bankruptcy counsel to the
Debtor.  Forshey & Prostok LLP serves as conflicts counsel.
Parella Weinberg Partners LP serves as financial advisor.

Lenders to the Texas Rangers sought to force the baseball team's
equity owners -- Rangers Equity Holdings, L.P. and Rangers Equity
Holdings GP, LLC -- into bankruptcy court protection (Bankr. N.D.
Tex. Case No. 10-43624 and 10-43625).   The lenders, a group that
includes investment funds Monarch Alternative Capital and
Kingsland Capital Management, filed an involuntary bankruptcy
petition on May 28 against the two companies.  The two companies
were not included in the May 24 Chapter 11 filing of TRBP.


TRIBUNE CO: Houlihan Lokey Refused to Give "Solvency Opinion"
-------------------------------------------------------------
Mike Spector and Shira Ovide at The Wall Street Journal report
that people familiar with the matter said Houlihan Lokey, a Los
Angeles-based investment bank, declined to give Tribune Co. a
"solvency opinion" in March 2007 that would have cleared the way
for Sam Zell's $8.2 billion leveraged buyout of the media
conglomerate.  Sources said Houlihan believed the deal would
saddle the company with too much debt.

The report says Tribune turned to a smaller firm -- Valuation
Research Corp. -- to get a solvency opinion.  Kenneth Klee, a
bankruptcy-court examiner, criticized Valuation Research in a
recent report, saying the firm used faulty methods to reach its
conclusions.

The Journal notes solvency opinions often are sought by corporate
boards or lenders to provide comfort that a company can handle the
obligations incurred in a leveraged deal.  Lenders, in particular,
want to be assured their investments will be safe from litigation
in the event the company seeks bankruptcy protection.  In highly
leveraged deals such as Tribune's, these opinions are sometimes
required for the transaction to close.

The Journal notes Tribune needed solvency opinions to complete Mr.
Zell's buyout.  One of the sources told the Journal, Houlihan was
concerned about Tribune's financial health to begin with, but also
the declining fortunes of the newspaper industry.  Houlihan viewed
Mr. Zell's deal as "DOA" and felt it was "going to fail," this
person said.

According to the Journal, a person familiar with the matter said
that Mr. Zell was frustrated that Houlihan had turned down the
assignment, because the bank had been trying to work with Mr. Zell
for some time.

Tribune declined to comment. Valuation Research didn't return a
request for comment.

The Troubled Company Reporter ran a story on the Examiner's report
on July 30.  The Examiner's Report, dated July 26, 2010, was filed
in four volumes:

  -- Volume One is a summary of principal conclusions, overview
     and conduct of the examinations, and factual background.  A
     full-text copy of Volume One is available for free at:

            http://bankrupt.com/misc/Tribune_Volume1.pdf

  -- Volume Two contains the findings and conclusions concerning
     Question One -- whether there are any potential claims,
     causes of action, and defenses that can be asserted with
     respect to the leveraged buy-out of Tribune that occurred
     in 2007.  A full-text copy of Volume Two which is available
     for free at http://bankrupt.com/misc/Tribune_Volume2.pdf

  -- Volume Three contains the findings and conclusions
     concerning Questions Two and Three -- whether Wilmington
     Trust violated the automatic stay by filing Adversary
     Proceeding No. 10-50732 and whether Wilmington Trust
     violated confidentiality as asserted by JPMorgan.  A
     full-text copy of Volume Three is available for free at:

            http://bankrupt.com/misc/Tribune_Volume3.pdf

  -- Volume Four is the Glossary of defined terms.  A full-text
     copy of Volume Four is available for free at:

            http://bankrupt.com/misc/Tribune_Volume4.pdf

            Potential Claims and Causes of Actions

The Examiner related that Tribune's buyout took place in two
parts:

(1)"Step One Transactions" means:

      (a) the Tender Offer for 126 million shares of Tribune
          Common Stock at $34 per share;

      (b) the Refinancing, which means the repayment of the 2006
          Bank Debt;

      (c) the investment of EGI-TRB in Tribune with respect to
          the purchase of $50 million of Tribune's common equity
          and the Exchangeable EGI-TRB Note, dated April 23,
          2007, made by Tribune in favor of EGI-TRB in the
          original principal amount of $200 million, which was
          exchangeable at the option of Tribune, or
          automatically under certain circumstances, into
          5,882,353 shares of Tribune Common Stock;

      (d) the formation of the Tribune Employee Stock Ownership
          Plan during the first quarter of 2007 with an
          effective date of January 1, 2007;

      (e) the execution and delivery of the Agreement and Plan
          of Merger, dated April 1, 2007, by and among Tribune,
          the Trustee, Tesop Corporation, and EGI TRB;

      (f) the Step One Purchase Transaction;

      (g) the execution, delivery, and performance of the
          $8.028 Billion Credit Agreement, dated May 17, 2007,
          by among Tribune, as borrower, JPMorgan Chase Bank,
          N.A., as administrative agent, Merrill Lynch Capital
          Corporation, as syndication agent, Citicorp North
          America, Inc., Bank of America, N.A., and Barclays
          Bank PLC, as co-documentation agents, and the
          lenders;

      (h) the ESOP Loan and the pledge of shares by ESOP to
          secure the ESOP Loan;

      (i) the "FinanceCo Transaction," which is (a) the
          formation of FinanceCo as a wholly-owned subsidiary
          of Tribune, (b) the contribution by Tribune of not
          less than $3.0 billion to FinanceCo, (c) the issuance
          by certain Guarantor Subsidiaries of the subordinated
          intercompany promissory notes to Finance Co, and (d)
          the direct or indirect dividend or other distribution
          by those Guarantor Subsidiaries of the aggregate
          amount of those loaned funds to Tribune; and "Holdco
          Transaction," which is the formation of Holdco as a
          wholly-owned subsidiary of Tribune and the
          contribution to Holdco of the stock of Tribune
          Broadcasting Company;

      (j) all other transactions necessary to effect or
          incidental to the Step One Transactions; and

      (k) the payment of fees, costs and expenses related to
          the Step One Transactions.

  (2)"Step Two Transactions" means (a) the Merger, (b) the
      execution, delivery, and performance of the Bridge Credit
      Agreement, (c) the making of advances under an Incremental
      Credit Agreement Facility, (d) all other transactions
      necessary to effect or incidental to the transactions, and
      (e) the payment of fees, costs and expenses related to the
      transactions.

The Examiner found that a court is reasonably likely to conclude
that the Step One Transactions did not constitute an intentional
fraudulent transfer.  According to Mr. Klee, application of the
traditional "badges of fraud" to the record adduced and the
circumstances giving rise to the Step One Transactions weigh
against the conclusion that the Step One Transactions were entered
into to hinder, delay, or defraud creditors.

However, Mr. Klee reached a different conclusion regarding the
Step Two Transactions and finds that it is somewhat likely that a
court would conclude that the Step Two Transactions constituted
intentional fraudulent transfers and fraudulently incurred
obligations.  The Examiner concluded that it is highly likely that
Tribune and its subsidiaries were rendered insolvent and without
adequate capital as a result of the closing of the Step Two
Transactions.  The Examiner disclosed that Tribune did not incur
the approximately $3.6 billion in additional Step Two debt until
Step Two closed on December 20, 2007.  It is the incurrence of
this indebtedness, the approximately $4 billion in payments made
to stockholders, and the substantial amounts in fees paid to the
lenders and investment bankers at Step Two, that are the object of
the Step Two intentional fraudulent transfer inquiry, he said.

The Examiner found evidence indicating that Tribune did not act
forthrightly in procuring the solvency opinion issued by Valuation
Research Corporation at Step Two.  Based on the record adduced,
the procurement of the solvency opinion was marred by dishonesty
and lack of candor about the role played by Morgan Stanley in
connection with VRC's solvency opinion and on the question of
Tribune's solvency generally, Mr. Klee related in the Report.

The Examiner also found evidence indicating that Tribune's senior
financial management failed to apprise the Tribune Board of
Directors and Special Committee of relevant information underlying
management's October 2007 projections on which VRC relied in
giving its Step Two solvency opinion.  Although the Examiner found
no direct evidence that this information was purposely withheld
from the Tribune Board or Special Committee in December 2007, the
Examiner found it implausible that the failure to apprise the
Tribune Board and Special Committee of this information relating
to the Step Two solvency valuation, and to a representation given
by Tribune to VRC, was unintentional.

The Examiner found evidence that one important component of those
projections went beyond the optimism that sometimes characterizes
management projections.  Although the Examiner found no direct
evidence that Tribune's management was deceitful in the
preparation and issuance of this aspect of the October 2007
forecast, this component of the projections bears the earmarks of
a conscious effort to counterbalance the decline in Tribune's 2007
financial performance and other negative trends in Tribune's
business, in order to furnish a source of additional value to
support a solvency conclusion.

                       Tribune's Statement

"We agree with some of his assessments and disagree with others,"
Tribune Chief Executive Officer Randy Michaels and Chief Operating
Officer Gerald Spector told Bloomberg News.

Tribune believes it will still emerge from bankruptcy protection
this year even though Mr. Klee concluded that talks leading up to
the LBO had bordered on fraud, Tribune's CEO and COO said in a
memo sent to employees, the Associated Press quoted.

The CEO and COO, according to AP, refused to go into specifics
saying it would be premature to comment while the Report remains
under seal.

                         About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austion LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North Americal LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.

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


TRIBUNE CO: Loan Agent Wants Delay of Plan Confirmation
-------------------------------------------------------
The agent for the $1.6 billion bridge loan lenders of Tribune Co.
is asking the Bankruptcy Court to delay by 90 days the Aug. 30
confirmation hearing for Tribune's Chapter 11 plan.  It says that
there isn't enough time to examine witnesses and experts under
oath before the current Aug. 13 deadline for filing written
objections to plan confirmation.  The bridge agent says more time
is required because of unexpected conclusions in the 1,000-page
examiner's report finding a possibility that some aspects of the
2007 leverage buyout could be attacked successfully as fraudulent
transfers.  A hearing on the request is scheduled for Aug. 9.

                         About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austion LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North Americal LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.

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


TRIBUNE CO: Creditors Win Access to Examiner Report
---------------------------------------------------
Ahead of a vote on a controversial reorganization plan, Tribune
Co. creditors on Thursday won access to a report that concluded
the 2007 leveraged buyout of the company involved fraudulent
transfers, Bankruptcy Law360 reports.

Judge Kevin Carey of the U.S. Bankruptcy Court for the District of
Delaware ordered that the creditors and the U.S. trustee be
allowed access to the report, Law360 says.

                         About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No.
08-13141).  The Debtors proposed Sidley Austin LLP as their
counsel; Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware
counsel; Lazard Ltd. and Alvarez & Marsal North America LLC as
financial advisors; and Epiq Bankruptcy Solutions LLC as claims
agent.  As of Dec. 8, 2008, the Debtors have $7,604,195,000 in
total assets and $12,972,541,148 in total debts.

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


TRIBUNE CO: Interactive Unit Promotes Jeff Kapugi to COO
--------------------------------------------------------
Tribune Interactive announced the promotion of Jeff Kapugi to
chief operating officer, effective immediately.  Mr. Kapugi, who
joined Tribune Interactive in 2008, will be responsible for all
aspects of the operations of the company's publishing,
broadcasting and interactive web sites.  Most recently, Mr. Kapugi
served as senior vice president/representation for Tribune
Interactive.

"Jeff is an important player on our leadership team and an
essential part of our future," said Marc Chase, president of
Tribune Interactive.  "He's been driving change efforts for the
last two years, churning the pot and keeping us focused on
operating effectively and efficiently."

"We have an incredible opportunity to take the media industry to
the next level and I'm excited to help make it happen," said
Kapugi.  "My focus will be on implementing innovative efficiencies
while maintaining a strong sense of organization."

Mr. Kapugi will replace Nick Cory as chief operating officer.

"Over the last six months, Nick has been serving double duty for
the company, leading operations for Tribune Interactive and
devoting additional time to the reorganization of certain back-
office functions for the company," Chase explained.  "Now he can
devote all of his energy to that project."

Prior to joining Tribune, Mr. Kapugi held numerous positions at
Clear Channel Radio including vice president/programming,
operations manager and program director.

                         About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No.
08-13141).  The Debtors proposed Sidley Austin LLP as their
counsel; Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware
counsel; Lazard Ltd. and Alvarez & Marsal North America LLC as
financial advisors; and Epiq Bankruptcy Solutions LLC as claims
agent.  As of Dec. 8, 2008, the Debtors have $7,604,195,000 in
total assets and $12,972,541,148 in total debts.

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


TRICO MARINE: Inks 2nd Amended Credit Deal with Nordea & Obsidian
-----------------------------------------------------------------
Trico Marine Services Inc. entered into Amendment No. 2 to Credit
Agreement with Nordea Bank Finland plc, New York Branch as
collateral agent, and Obsidian Agency Services Inc. as
administrative agent.  The Second Amendment amends the Company's
Second Amended and Restated Credit Agreement dated as of June 11,
2010, to add a carve-out for certain recent amendments to the
covenant limiting the ability of the Company and its subsidiaries
to enter into restrictive agreements.

Obsidian Agency Services, Inc. -- the administrative agent to the
lenders under the Second Amended and Restated Credit Agreement,
dated as of June 11, 2010, with Nordea Bank Finland plc, New York
Branch, and Obsidian -- is represented by Latham & Watkins LLP.

The lenders under the Fourth Amendment, dated as of July 23, 2010,
to the Company's Credit Agreement dated as of October 30, 2009,
with Nordea Bank Finland plc, New York Branch, as administrative
agent, are represented by Latham & Watkins LLP and White & Case
LLP.

On July 23, 2010, Trico Shipping AS entered into the Fourth
Amendment to Credit Agreement witth Nordea as administrative
agent, and Unicredit Bank AG and affiliates of Tennenbaum Capital,
as lenders.  The Fourth Amendment amends the Credit Agreement
dated as of October 30, 2009, as amended, to provide that if a
grant of a security interest in any assets of Trico Supply AS, a
Norwegian limited company and indirect wholly owned subsidiary of
Trico, or its subsidiaries that would have otherwise been required
to have been granted under the Senior Notes Indenture, ceases to
be required thereunder, Trico Supply AS and its subsidiaries will
still be obligated under the Trico Shipping Working Capital
Facility to grant a security interest securing the obligations in
any such assets, with at least the same priority that would have
otherwise been required.

Nordea serves as administrative agent, book runner, joint lead
arranger and a lender under a credit agreement providing for up to
$15,000,000 in revolving loans and up to $65,000,000 in term loans
for which Trico Shipping is the borrower.  Affiliates of
Tennenbaum Capital serve as lenders under the U.S. Credit Facility
and the Trico Shipping Working Capital Facility.

A full-text copy of the Second Amendment is available for free at
http://ResearchArchives.com/t/s?6764

A full-text copy of the Fourth Amendment is available for free at
http://ResearchArchives.com/t/s?6765

                         About Trico Marine

Woodlands, Texas-based Trico Marine Services is a provider of
support vessels for the offshore oil and natural-gas industry.
At March 31, 2010, the Company had total assets of $1,013,628,000
against total liabilities of $985,940,000.

Trico Marine has failed to make the $8.0 million interest payment
on $202.8 million in aggregate principle amount of its 8.125%
secured convertible debentures due 2013.  On June 17, 2010, the
30-day grace period permitted under the 8.125% Indenture expired,
triggering an Event of Default.

The Troubled Company Reporter on June 16, 2010, said Trico Marine
has signed a revised loan agreement on June 11 requiring the
company to file under Chapter 11 no later than Sept. 8.  The
agreement with affiliates Tennenbaum Capital Partners LLC provides
for converting the existing $25 million revolving credit
commitment into a $25 million term loan commitment.  Nordea Bank
Finland plc, New York Branch, as collateral agent, Obsidian Agency
Services, Inc., as administrative agent, also signed the
agreement.

As reported by the TCR on June 15, 2010, Trico said that it and
Evercore Partners are in discussions with various potential
lenders and some of the Company's existing debtholders regarding
obtaining additional financing in connection with a possible
proceeding under Chapter 11 of the Bankruptcy Code.


TTR MATTESON: Asks for Court's Permission to Use Cash Collateral
----------------------------------------------------------------
TTR Matteson, LLC, has asked for authorization from the U.S.
Bankruptcy Court for the Northern District of Illinois to use the
cash collateral.

The Debtor wants to use certain cash and cash equivalents that
allegedly serve as collateral for claims asserted against the
Debtor and its property by Inland Mortgage Capital Corporation.
The TTR Properties are subject to a purported first mortgage in
favor of the Lender purportedly securing a claim in the
approximate amount of $12 million.  Pursuant to the Lender's loan
documents, the promissory note secured by the mortgage purportedly
came due on September 11, 2009.  At that time, the Debtor asserts
that it was current with respect to debt service on the note.

Scott R. Clar at Crane, Heyman, Simon, Welch & Clar, the attorney
for the Debtor, explains that the Debtor needs the money to fund
its Chapter 11 case, pay suppliers and other parties.

In exchange for using the cash collateral, the Debtor proposes to
grant the Lender a replacement post-petition lien on the Debtor's
collateral, to the extent of the Lender's pre-petition lien.

The Debtor will use the collateral pursuant to a budget, a copy of
which is available for free at:

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

                    Secured Creditor's Objection

Secured creditor Inland Mortgage Capital Corporation has objected
to the Debtor's request to use cash collateral.  IMCC also
believes that the Debtor's bankruptcy case should be dismissed.

According to IMCC, the Debtor has failed to provide adequate
protection for the use of cash collateral.  The proposed budget
demonstrates that there is not enough income to pay the expenses
of the Property, including real estate taxes that will soon be
due.  The Debtor also does not propose providing any adequate
protection to IMCC other than a replacement lien on collateral
already subject to IMCC's pre-petition lien, IMCC says.  IMCC asks
the Court that the Court require that the Debtor make any payments
on account of insurance or real estate taxes into an escrow
account to ensure that the funds remain available for those
specific purposes.

                         About TTR Matteson

Oak Brook, Illinois-based TTR Matteson, LLC, owns three commercial
properties.  The Company filed for Chapter 11 bankruptcy
protection on July 19, 2010 (Bankr. N.D. Ill. Case No. 10-31879).
Scott R. Clar, Esq., at Crane Heyman Simon Welch & Clar, assists
the Company in its restructuring effort.  The Company estimated
its assets and debts at $10,000,001 to $50,000,000.


UNI-PIXEL INC: Earns $676,300 in Q2 Ended June 30
-------------------------------------------------
Uni-Pixel, Inc., filed its quarterly report on Form 10-Q,
reporting  net income of $676,300 on $39,228 of revenue for the
three months ended June 30, 2010, compared with a net loss of
$1,379,178 on zero revenue for the same period of 2009.

The Company's balance sheet as of June 30, 2010, showed $2,372,040
in assets and $4,096,807 of liabilities, for a stockholders'
deficit of $1,724,767.

PMB Helin Donovan, LLP, in Houston, expressed substantial doubt
about the Company's ability to continue as a going concern after
auditing the Company's financial statements for the year ended
December 31, 2009.  The independent auditors noted that
the Company has sustained losses and negative cash flows from
operations since inception.

Uni-Pixel incurred recurring net losses of $1,470,971 and
$3,198,764 for the six months ended June 30, 2010, and 2009,
respectively, has negative working capital of $1,873,572 and has
an accumulated deficit of $51,379,495 as of June 30, 2010.

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

               http://researcharchives.com/t/s?6784

The Woodlands, Tex.-based Uni-Pixel, Inc. (OTC BB: UNXL)
-- http://www.unipixel.com/-- is a production stage company
delivering its Clearly Superior(TM) Performance Engineered Films
to the Lighting & Display, Solar and Flexible Electronics market
segments.


UNIFI INC: Posts $5.5 Million Net Income for June 27 Quarter
------------------------------------------------------------
Unifi Inc. released preliminary operating results for its fourth
quarter and fiscal year ended June 27, 2010.  The Company reported
net income of $5.5 million or $0.09 per share for the fourth
quarter of fiscal year 2010 compared to a net loss of $6.3 million
or $0.10 per share for the prior year June quarter.

Net sales for the fourth quarter were $177 million, an increase of
$37.1 million or 26.6% compared to net sales of $140 million for
the prior year quarter.  Adjusted EBITDA for the fourth quarter
was $14.1 million compared to Adjusted EBITDA of $9.6 million for
the prior year quarter.

The company's balance sheet for June 27, 2010, showed
$504.4 million in total assets and $78.2 million in total current
liabilities, for a $259.8 million in total stockholder's equity.

For the 2010 fiscal year, net income was $10.7 million or $0.18
per share, which represents the Company's first profitable year
since fiscal 2000 and an improvement of $59.7 million or $0.97 per
share, from the prior year period. Highlights for the 2010 fiscal
year include:

  * Net sales increased by $63.1 million or 11.4 percent to $616.8
    million, reflecting retail sales improvements in the Company's
    core apparel, home furnishings and automotive categories;

  * Gross profit increased by $43.0 million, reflecting the
    benefits of higher capacity utilization and the Company's
    focus on continuous improvement across the organization; and

  * Adjusted earnings before income taxes, depreciation and
    amortization increased by $32.0 million to $55.3 million for
    the year.

Ron Smith, Chief Financial Officer for Unifi, said, "Our volumes
continued to strengthen during the June quarter as a result of
improvements in retail sales, which continue to show signs of
recovery and positive regional sourcing trends.  Results for the
quarter were also positively impacted by the Company's share of
earnings in Parkdale America, as well as continued improvements in
our operations in Brazil and China."

Cash-on-hand at June 27, 2010 was $42.7 million, a decrease of
$9.8 million from the end of the prior quarter, as cash generated
by operations funded investments in capital expenditures, the
startup of REPREVE Renewables LLC and the Company's semi-annual
interest payment.  During the fourth quarter, the Company also
announced redemption of $15 million of its 11.5% Senior Secured
Notes due 2014, which it successfully completed after year-end.

"The management team, put into place in October 2007, has done an
outstanding job of developing and implementing the strategies that
successfully led the Company through the recession and produced
our first profitable year in ten years," said Bill Jasper,
President and CEO of Unifi.  "Our consistent focus on market
share, cost control, lean manufacturing and statistical process
control, coupled with market improvements across our major
segments, has enabled the Company to exceed its financial and
operational goals for the year.  As we continue to drive these
efforts, we expect to maintain these gains and achieve additional
improvements during the 2011 fiscal year."

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?676e

                         About Unifi

Unifi, Inc. (NYSE: UFI) -- http://www.unifi.com/and
http://www.repreve.com/-- is a diversified producer and processor
of multi-filament polyester and nylon textured yarns and related
raw materials.  The Company adds value to the supply chain and
enhances consumer demand for its products through the development
and introduction of branded yarns that provide unique performance,
comfort and aesthetic advantages.  Key Unifi brands include, but
are not limited to: AIO(R) - all-in-one performance yarns,
SORBTEK(R), A.M.Y.(R), MYNX(R) UV, REPREVE(R), REFLEXX(R),
MICROVISTA(R) and SATURA(R). Unifi's yarns and brands are readily
found in home furnishings, apparel, legwear, and sewing thread, as
well as industrial, automotive, military, and medical
applications.

As reported by the Troubled Company Reporter on November 20, 2009,
Moody's Investors Service revised Unifi, Inc.'s ratings outlook to
stable from negative.  Moody's affirmed the company's Caa1
Corporate Family and Probability of Default Ratings, and the Caa2
rating on its senior secured notes due 2014.


UNITED COMPONENTS: S&P Puts 'B-' Rating on CreditWatch Positive
---------------------------------------------------------------
Standard & Poor's Ratings Services said it has placed its ratings
on United Components Inc., including the 'B-' corporate credit
rating, on CreditWatch with positive implications.

The CreditWatch listing reflects S&P's view that parent company
UCI International Inc.'s (formerly UCI HoldCo Inc.) recently
announced intention to issue public equity and use the proceeds to
permanently reduce debt could lead to an upgrade or outlook
revision in the near term.

"In S&P's opinion, this debt reduction could address the company's
aggressive leverage and its tight liquidity," said Standard &
Poor's credit analyst Nancy Messer.  UCI is aggressively leveraged
because of pressures on EBITDA and cash flow, combined with
accretion of the UCI International payment-in-kind notes, which
S&P views as debt.

UCI is a supplier to the U.S. automotive aftermarket, and S&P
views the business risk profile as weak.  UCI had total balance
sheet debt of $425 million at March 31, 2010, plus another
$332 million in holding company PIK notes held by a third party.

UCI's revenues increased 4.7% in the first quarter of 2010, year
over year, boosted by higher sales in the retail, OEM, and heavy-
duty truck channels, while sales in the traditional channel were
flat, and sales to OE services were down slightly.  Recent
restructuring actions such as workforce reductions, wage freezes,
pension contribution suspensions, and stricter discretionary
spending have improved margins in the past year, and UCI continues
to earn sufficient EBITDA to remain in compliance with its
covenants.

UCI's credit measures remain weak.  S&P's debt calculation
includes $132.4 million in off-balance-sheet factored accounts
receivable.  UCI's free cash flow generation is low relative to
its debt load.  S&P assume the company must be recapitalized or
sold in the next few years because its capital structure includes
the PIK notes that become cash-pay in 2012 and term loan
amortization that rises significantly in 2012.

S&P expects to resolve the CreditWatch listing following
completion of the proposed transactions and S&P's assessment of
the implications for credit quality.  S&P could raise the ratings
slightly if the debt reduction resulting from the transaction
improves the financial risk profile.  If debt is not reduced
meaningfully or if the transaction is not completed as S&P
expects, S&P would likely affirm the ratings.


USEC INC: Amends Credit Agreement with New Alliance & JPMorgan
--------------------------------------------------------------
USEC Inc. and its wholly owned subsidiary United States Enrichment
Corporation entered into a Commitment Increase Amendment to Credit
Agreement with New Alliance Bank and JPMorgan Chase, N.A., as
administrative agent under the Credit Agreement.

The Amendment amends the Second Amended and Restated Revolving
Credit Agreement dated as of February 26, 2010 by and among USEC,
United States Enrichment Corporation, the lenders parties thereto,
JPMorgan Chase Bank, N.A., as administrative and collateral agent,
and the joint book managers, joint lead arrangers and other agents
parties thereto.

The Credit Agreement contains an accordion feature that allows
USEC to expand the size of the credit facility up to an aggregate
of $350 million in revolving credit commitments, subject to USEC
obtaining additional commitments.  At June 30, 2010, there were no
outstanding borrowings under the credit facility.

The Amendment increases the aggregate lender commitments under the
credit facility by $25 million from $225 million to $250 million
and increases the letter of credit sublimit from $100 million to
$125 million.  The Amendment also increases the ACP Spending
Basket from $90 million to $115 million.  In the event of any
additional increases in aggregate lender commitments, the letter
of credit sublimit will increase dollar for dollar up to a maximum
of $150 million and the ACP Spending Basket will also increase
dollar for dollar up to a maximum of $165 million.

Under the terms of the Credit Agreement, the Company is subject to
restrictions on its ability to spend on the American Centrifuge
project.  Subject to certain limitations when availability falls
below certain thresholds, the Credit Agreement, as amended by the
Amendment, permits the Company to spend up to $115 million for the
American Centrifuge project over the term of the credit facility.

The credit facility does not restrict the investment of proceeds
of grants and certain other financial accommodations or other
third parties that are specifically designated for investment in
the American Centrifuge project.

Under this provision, the $45 million made available by DOE
pursuant to a cooperative agreement entered into with DOE in March
2010 for continued American Centrifuge activities is not
restricted by the credit facility or counted towards the ACP
Spending Basket.  In addition to the ACP Spending Basket, the
credit facility also permits the investment in the American
Centrifuge project of net proceeds from additional equity capital
raised by USEC, subject to certain provisions and certain
limitations when availability falls below certain thresholds.

A full-text copy of the Amended Credit Agreement is available for
free at http://ResearchArchives.com/t/s?6777

                          About USEC Inc.

Headquartered in Bethesda, Maryland, USEC Inc. (NYSE: USU) --
http://www.usec.com/-- a global energy company, is a supplier of
enriched uranium fuel for commercial nuclear power plants.

The Company's balance sheet at March 31, 2010, showed $3.4 billion
in total assets, $1.0 billion in total current liabilities,
$575.0 million in long term debt, and $556.1 million other long-
term liabilities, for a stockholder's equity of $1.2 billion.

                           *     *     *

According to the Troubled Company Reporter on Dec. 30, 2009, USEC
Inc. has a revolving credit that matures in August and a corporate
rating from Standard & Poor's that recently declined one click to
CCC+, matching the action taken on Dec. 18 by Moody's Investors
Service.

The Troubled Company Reporter on May 28, 2010, reported that
Standard & Poor's Ratings Services said that its rating and
outlook on USEC Inc. (CCC+/Developing/--) are not affected by the
announcement that Toshiba Corp. and Babcock & Wilcox Investment
Co., an affiliate of The Babcock & Wilcox Co., have signed a
definitive investment agreement for $200 million with USEC.


USG CORPORATION: Files Quarterly Report on Form 10-Q
----------------------------------------------------
USG Corporation filed its quarterly report on Form 10-Q with the
Securities and Exchange Commission.

The Company reported second quarter 2010 net sales of
$769 million, an operating loss of $25 million and a net loss of
$74 million, or $0.74 per diluted share based on 99.5 million
average diluted shares outstanding.  The operating loss in the
first quarter of 2010 was $82 million and its net loss for that
quarter was $110 million.

The Company's balance sheet for June 30, 2010, showed $3.9 billion
in total assets, $507.0 million in total current liabilities, $1.9
billion deferred income taxes, $20 million other liabilities, and
$707.0 million commitments and contingencies, for a $740.0 million
total stockholders' equity.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?6768

                          About USG Corp.

USG Corporation, headquartered in Chicago, Illinois, is a leading
producer and distributor of building materials in the Unites
States, Canada and Mexico.  The company manufactures and markets
gypsum wallboard and operates a specialty distribution business
that sells to professional contractors.  It also manufactures
ceiling tiles and ceiling grids used primarily in commercial
applications.  Revenues for the last 12 months through March 31,
2010, totaled approximately $3.1 billion.

                           *     *     *

As reported by the Troubled Company Reporter on June 28, 2010,
Moody's Investors Service downgraded USG Corporation's Corporate
Family Rating and Probability of Default Rating to Caa1 from B3.
In a related rating action Moody's downgraded the guaranteed
senior unsecured notes due 2014 to B2 from B1 and the other senior
unsecured debt to Caa2 from Caa1.  The Speculative Grade Liquidity
rating remains SIGIL-3.  The outlook is stable.

The downgrades result from weaker than previously anticipated
operating performance.  Moody's believes that potential demand
increases for wallboard from North American new home construction
and repair and remodeling will not be adequate to generate
sufficient volumes and operating profits to cover USG's interest
expense over the intermediate term.  Furthermore, the non-
residential construction end market, which accounts for about 30%
of USG's revenues, is expected to contract well into 2011.


VALENCE TECHNOLOGY: Board OKs Shares Sale to Berg & Berg
--------------------------------------------------------
Berg & Berg Enterprises LLC loaned $2,500,000 to Valence
Technology Inc.  In connection with the loan, the Company executed
a promissory note in favor of Berg & Berg.  The Promissory Note is
payable on November 15, 2010 and bears interest at a rate of 3.5%
per annum.

On July 27, 2010, the Company's Board of Directors authorized the
Company to request and enter into either loans from or the sale of
shares to Berg & Berg, Mr. Berg, or their affiliates from time to
time in an aggregate amount of up to $10.0 million, if, as and
when needed by the Company, and as may be mutually agreed.

The managing member of Berg & Berg is Carl E. Berg, who is the
Chairman of the Company's Board of Directors and the principal
stockholder of the Company.

A full-text copy of the Promissory Note is available for free at
http://ResearchArchives.com/t/s?676d

                     About Valence Technology

Austin, Texas-based Valence Technology, Inc. (NASDAQ: VLNC) --
http://www.valence.com/-- is a global leader in the development
of safe, long-life lithium iron magnesium phosphate energy storage
solutions and provides the enabling technology behind some of the
world's most innovative and environmentally friendly applications.
Valence Technology has its Research & Development Center in
Nevada, its Europe/Asia Pacific Sales office in Northern Ireland
and global fulfillment centers in North America and Europe.

PMB Helin Donovan LLP expressed substantial doubt about Valence
Technology Inc.'s ability as a going concern.  The Company has
incurred operating losses each year since its inception in 1989
and had an accumulated deficit of $581 million as of March 31,
2010.  For the fiscal years ended March 31, 2010, 2009, and 2008
the Company sustained net losses available to common stockholders
of $23.2 million, $21.4 million, and $19.6 million, respectively.


VERTIS INC: Moody's Assigns 'B3' Rating on $425 Mil. Senior Loan
----------------------------------------------------------------
Moody's Investors Service assigned a B3 rating to Vertis' proposed
$425 million senior secured first-out term loan and a Caa2 rating
to its proposed $150 million senior secured last-out term loan,
both due 2015.  Based on the proposed revised debt structure,
these new term loans will be issued in place of the previously
proposed Senior Secured Bank Credit Facility and Senior Secured
Regular Bond/Debenture, which each had been rated B3 in April
2010, and the ratings for which have now been withdrawn.  All
other ratings remain unchanged and the rating outlook remains
stable, as outlined below.

The ratings are assigned in connection with Vertis' proposed out-
of-court restructuring and refinancing that will reduce its debt
by approximately 18% to $948 million (excluding an incremental
$100 million of PIK preferred stock that Moody's considers to be
debt-like) through conversion of existing senior PIK notes into
common stock and an exchange of existing senior secured second
lien notes for new secured notes, cash and preferred stock.
Vertis plans to utilize net proceeds from the new first lien term
loans to repay existing bank debt and second lien notes, as well
as to fund transaction fees and expenses.  The restructuring and
refinancing favorably extend the maturity profile and reduce total
interest expense but significantly increase Vertis' cash interest
payments.

Assignments:

Issuer: Vertis, Inc.

  -- Senior Secured (First-Out) Term Loan, Assigned a B3, LGD3 -
     33%

  -- Senior Secured (Last-Out) Term Loan, Assigned a Caa2, LGD4 -
     61%

Unchanged:

  -- Corporate Family Rating, Caa1
  -- Probability of Default Rating, Caa1
  -- Speculative Grade Liquidity Rating, SGL-3
  -- Outlook, Stable

Withdrawn:

  -- Senior Secured Bank Credit Facility, B3
  -- Senior Secured Regular Bond/Debenture, B3

The B3 rating and LGD3-33% assessment on the proposed $425 million
first-lien, senior secured, first-out term loan is one notch above
the CFR and reflects the benefits of the first lien on
substantially all the assets of Vertis, the company's parent,
Vertis Holdings, Inc. and its subsidiaries, as well as its first-
out payment priority over the $150 million first-lien, senior
secured, last-out term loan.  The first-out term loan also
benefits from financial maintenance covenants and scheduled
quarterly amortization.  Maintenance covenants could improve
recovery prospects as they provide lenders an ability to modify
terms of the credit facility, which could result in pay downs
and/or higher interest margins as a condition to amending the
facility.  Scheduled amortization and other mandatory pay-downs
also reduce the first-out term loan lenders' exposure over time.
The Caa2 and LGD4-61% assessment on the proposed $150 million
first-lien, senior secured, last-out term loan is one notch below
the CFR and reflects the benefits of the first lien albeit last-
out position behind the first-out term loan.  Vertis' proposed
last-out term loan also notably does not contain financial
maintenance covenants or scheduled amortization payments.

An unrated proposed revolver also exists and is also secured by a
lien on the company's assets, but it will have first priority only
with respect to current assets and second priority with respect to
all other assets.  The term loans will have second priority with
respect to current assets and first priority with respect to all
other assets.

The restructuring/refinancing transactions are subject to a number
of conditions including minimum participation requirements on the
company's exchange offerings.  Moody's assumes these conditions
are met but ratings are subject to a review of the final results
of the company's restructuring and the terms and conditions of the
debt instruments.

Moody's last rating action for Vertis was on April 23, 2010 when
Moody's assigned a CFR of Caa1, a PDR of Caa1, a Speculative Grade
Liquidity Rating of SGL-3, and individual instrument ratings
related to the previous proposal.

Vertis' 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 Vertis' core industry and Vertis' ratings are believed
to be comparable to those of other issuers of similar credit risk.

Vertis, headquartered in Baltimore, MD, provides advertising,
direct marketing and interactive products and services to clients
across North America.  Vertis merged with ACG in October 2008 upon
the emergence of both companies from July 2008 pre-packaged
bankruptcy filings.  Avenue Capital will control a majority of the
equity and the board of directors upon completion of the proposed
refinancing/restructuring.  Revenue was approximately $1.3 billion
in FY 2009.


VILLAGEEDOCS INC: Defers Payment of Debt from Questys Buyout
------------------------------------------------------------
VillageEDOCS, Inc., entered into agreements which amend its Stock
Purchase Agreement and related Promissory Note entered into in
connection with the acquisition of Decision Management Company,
d/b/a Questys Solutions, Inc. in August 2008.  The amendments have
the effect of restructuring the Company's remaining repayment
obligations in connection with the acquisition of Questys.

On August 1, 2008, VillageEDOCS, Decision Management and Vojin
Hadzi-Pavlovic and Gloria Hadzi-Pavlovic, tenants in common --
Questys shareholder -- executed a Stock Purchase Agreement wherein
VillageEDOCS was to pay the Hadzi-Pavlovics $900,000 under a
Promissory Note providing for three equal annual installments of
$300,000 due on August 1, 2009, August 1, 2010 and August 1, 2011,
respectively.  In addition, VillageEDOCS agreed to provide
additional consideration under the Stock Purchase Agreement,
including payment of $115,000 on account of shareholder debt, of
which $80,000 remains unpaid.

The Company has requested that the Shareholder agree to an
extended payment schedule with regard to the payments due on
August 1, 2010 and August 2011, that the Shareholder agree to an
extended payment schedule with regard to the $80,000 Payment, and
that the Shareholder forbear from exercising its rights and
remedies under the Stock Purchase Agreement, Note and related
documents so long as VillageEDOCS complies with the terms of the
Sale Documents and the amended Note.

Pursuant to the amendments, the Company paid the Questys
shareholder $175,000 on July 30, 2010.  Its remaining payment
obligation of $505,000 is repayable on a monthly basis through
August 1, 2012 at 12% annual interest.  The Company will incur a
20% payment penalty for any late payments.  The security interest
granted to the Questys shareholder, pursuant to the original sale
documents, will remain in full force and effect.

A full-text copy of the First Amendment to Stock Purchase
Agreement and Forbearance Agreement by and between VillageEDOCS,
Inc. and the Shareholder, dated July 28, 2010, is available at no
charge at http://ResearchArchives.com/t/s?6792

A full-text copy of the First Amendment to Promissory Note by and
between VillageEDOCS, Inc. and the Shareholder, dated July 28, is
available at no charge at http://ResearchArchives.com/t/s?6793

                        About VillageEDOCS

Santa Ana, Calif.-based VillageEDOCS, Inc. is a global outsource
provider of business process solutions that simplify, facilitate
and enhance critical business processes.

The Company's balance sheet as of March 31, 2010, showed
$8,541,436 in assets, $2,612,142 of liabilities, and $5,929,294 of
stockholders' equity.

KMJ Corbin & Company LLP, in Costa Mesa, Calif., expressed
substantial doubt about the Company's ability to continue as a
going concern after auditing the Company's financial statements
for the year ended December 31, 2009.  The independent auditors
noted that the Company has incurred recurring losses from
operations.


VISTEON CORP: Union Seeks More Voting Power on Proposed Plan
------------------------------------------------------------
Bankruptcy Law360 reports that a union representing Visteon Corp.
retired workers is looking to get more of a say on the company's
Chapter 11 plan and asserts it has a $100 million claim that
should give it additional votes on the proposed reorganization.

The Industrial Division of the Communications Workers of America
filed a motion with the U.S. Bankruptcy Court for the District of
Delaware on Friday, taking issue with Visteon listing the...

Meanwhile, an ad hoc trade committee of unsecured claimants has
objected to Visteon's fourth amended Chapter 11 plan, saying it
treats the different classes of unsecured creditors too
disparately, Bankruptcy Law360 reports.

                         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: Seeks Rehearing on Retiree Benefit Appeal
-------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Visteon Corp. filed a
motion asking all active judges on the U.S. Court of Appeals in
Philadelphia to review a July 13 opinion by three circuit judges
holding that it didn't have the unilateral right to terminate
health and life insurance benefits for retirees.  Visteon contends
that the panel decision from the 3rd Circuit in Philadelphia is in
conflict with a 1991 decision by the 2nd Circuit Court of Appeals
in Manhattan.

According to the report, the Communications Workers of America
union last week filed a motion last week asking for temporary
allowance of a $100 million claim to vote on Visteon's
reorganization plan, citing the July appeals court decision that
the termination was improper.  Visteon counters that the claim on
behalf of retirees' health benefits should be $1 for voting
purposes.

                         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).


WARNER CHILCOTT: Moody's Affirms 'B1' Corporate Family Rating
-------------------------------------------------------------
Moody's Investors Service affirmed the ratings of Warner Chilcott
Company, LLC, Warner Chilcott Corporation, and WC Luxco S. r.l.
(subsidiaries of Warner Chilcott plc).  The affirmed ratings
include the B1 Corporate Family Rating, the B1 rating on the
company's senior secured credit facilities and the SGL-1
speculative grade liquidity rating.  Following this rating action,
the outlook remains stable.

The rating affirmation follows Warner Chilcott's announcement of a
special $2.15 billion shareholder dividend, to be funded with
$2.25 billion of new debt.  The new debt may include both senior
secured bank debt and unsecured debt.  Completion of the
transaction may occur by September 30, 2010, and is subject to
waivers on existing bank debt.

"The dividend will increase Warner Chilcott's financial leverage,
but to a level already incorporated in Moody's assumptions for the
B1 rating," stated Michael Levesque, Moody's Senior Vice
President.

Despite the significant addition of debt, the rating affirmation
primarily reflects Moody's view that pro forma Debt/EBITDA (which
Moody's estimated at 3.7 times) remains within the expectations
for Warner Chilcott's ratings.  The rating affirmation also
reflects good free cash flow and the company's prior history of
deleveraging.  Risk factors included in the B1 rating include high
product concentration risk, declining Actonel sales, an unresolved
patent challenge on Asacol 400mg, and the company's appetite for
leverage.

The rating outlook is stable.  In the future, positive rating
pressure could occur based on steady operating progress including
successful PGP integration, favorable execution of life cycle
management plans and a disciplined approach to any additional
acquisitions or shareholder-friendly strategies.  Conversely,
acquisitions or financial policies that result in leverage or cash
flow to debt metrics below the high end of Moody's "B" ranges
could create negative rating pressure.

Although Moody's is affirming the senior secured credit facilities
at B1 [LGD3, 33%], the LGD rate is expected to change based on the
mixture of secured and unsecured debt in the new capital
structure, which has yet to be determined.  Under a financing
scenario involving a significant amount of new unsecured debt, the
B1 senior secured rating could face upward pressure.  Moody's will
make any such adjustments once the capital structure mix has been
finalized.

Ratings affirmed:

Warner Chilcott Company, LLC

* B1 Corporate Family Rating
* B2 Probability of Default Rating
* SGL-1 Speculative Grade Liquidity Rating

Warner Chilcott Corporation, Warner Chilcott Company, LLC, and WC
Luxco S. r.l. (Borrowers):

* B1 [LGD3, 33%] Senior secured revolving credit facility of
  $250 million due 2014

* B1 [LGD3, 33%] senior secured Term Loan A of $1.0 billion due
  2014

* B1 [LGD3, 33%] Senior secured Term Loan B of $1.95 billion due
  2015

Moody's last rating action on Warner Chilcott was on February 2,
2010, when the CFR and bank facility ratings were affirmed at B1.

Headquartered in Ardee, Ireland, Warner Chilcott plc is a
specialty pharmaceutical company currently focused on women's
healthcare, gastroenterology, dermatology and urology.  In 2009,
the company reported total revenue of approximately $1.4 billion.


WM PROPERTIES: Case Summary & Largest Unsecured Creditor
--------------------------------------------------------
Debtor: WM Properties, Ltd.
        c/o Rossco Holdings, Inc.
        410 South Texas Avenue
        College Station, TX 77840

Bankruptcy Case No.: 10-60918

Chapter 11 Petition Date: July 28, 2010

Court: United States Bankruptcy Court
       Western District of Texas (Waco)

Judge: Ronald B. King

Debtor's Counsel: Ronald E. Pearson, Esq.
                  2109 Bird Creek Terrace
                  Temple, TX 76502-1083
                  Tel: (254) 778-0699
                  E-mail: Ron@Pearson-lawfirm.com

Scheduled Assets: $8,372,730

Scheduled Debts: $2,493,151

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

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Bernice James                                    $5,838
Santa Barbara County Tax Collector
P.O. Box 579
Santa Barbara, CA 93102-0579

The petition was signed by Brandon Wolsic, vice president of
Rossco Holdings, Inc.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Colony Lodging, Inc.                   10-60909   07/27/10
LJR Properties, Ltd.                              07/28/10
Monte Nido Estates, LLC                           07/28/10
Rossco Plaza, Inc.                     10-60917   07/28/10
Rossco Properties, Inc.                           07/28/10


WORLD BLESSING: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: World Blessing Mission Church, Inc.,
        a California Nonprofit Corporation
        2525 W. 8th Street, Suite 300
        Los Angeles, CA 90057

Bankruptcy Case No.: 10-41278

Chapter 11 Petition Date: July 28, 2010

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

Judge: Alan M. Ahart

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

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

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

According to the schedules, the Company says that assets total
$2,443,280 while debts total $3,916,046.

A copy of the Company's list of 20 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/cacb10-41278.pdf

The petition was signed by Byung Woo Oh, president.


* CFTC Eases Trading Restrictions for Bankrupt Companies
--------------------------------------------------------
Bankruptcy Law360 reports that federal officials have adopted new
regulations allowing struggling financial companies to continue
handling commodities trading as usual while under bankruptcy
protection, in a move that seeks to avert customer losses.

The U.S. Commodities Future Trading Commission announced Thursday
that it had adopted an amendment to Regulation 190.04(d)(2).


* P/E-Backed Stone Bank Still Awaits FDIC Approval to Buy Banks
---------------------------------------------------------------
Shasha Dai at The Wall Street Journal on Thursday reported that
Stone Bank, a new bank backed by Blackstone Group LP and several
undisclosed investors, is still awaiting the Federal Deposit
Insurance Corp.'s approval on its qualified bidder status.
According to the Journal, the longer-than-expected approval
process highlights challenges facing private equity sponsors that
have FDIC-assisted transitions in mind.

Stone Bank is being organized as a national savings bank to be
based in Dallas, with a proposed capitalization of $1 billion,
people familiar with the matter told the Journal.  The bank is led
by R. Brad Oates, who spearheaded the turnaround of Bluebonnet
Savings Bank FSB during the savings and loan crisis.  Stone Bank
plans to acquire failed banks from the FDIC.

Stone Bank has obtained a shelf charter from the Office of Thrift
Supervision, but hasn't done any acquisitions as it has yet to be
approved by the FDIC to participate in auctions.  Sources told the
Journal the delay is related to its private equity connection.

According to the Journal, Andrew Gray, an FDIC spokesman, declined
to comment on specific applicants.

The Journal also relates the FDIC's guidelines on private
capital's involvement in such deals, first released last year,
have been deemed too restrictive by investors, who cited the
tighter-than-normal capital ratios and a three-year holding
period.  Now, this year, the FDIC lowered the loss-sharing ratios,
making FDIC-assisted deals even less attractive to private
investors.  In addition, the swelling cash piles private investors
have raised for bank deals as well as competition from strategic
bidders have pushed prices higher.

"We changed our focus from the FDIC-assisted transactions,"
Blackstone President Tony James have told reporters, according to
the Journal, attributing the change to decreased level of FDIC
assistance and more aggressive rivals.  The firm now will target
healthier banks that can serve as consolidation platforms, Mr.
James said.

According to the Journal, people familiar with the situation said
Blackstone is still committed to Stone Bank -- if the bank can be
blessed by the FDIC. But going forward, Blackstone won't likely
make any new commitments to failed-bank deals, the people said.

As reported in Monday's Troubled Company Reporter, the FDIC closed
five banks on Friday, bringing the year's total bank collapse to
108.


* Ex-Kaye Scholer Atty. Indicted for Bankruptcy Fraud
-----------------------------------------------------
Bankruptcy Law360 reports that a grand jury indicted a former Kaye
Scholer LLP partner Thursday on charges of bankruptcy fraud,
alleging he represented a now-defunct Utah steel mill during two
Chapter 11 filings while conducting numerous business deals with a
New York investment firm that had a hefty stake in the company.

Stephen E. Garcia, while acting as counsel for Geneva Steel
Holdings Corp., illegally concealed real estate investments and
legal service agreements he had with Albert Fried & Co., Law360
says.


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                                                          Total
                                               Total     Share-
                                    Total    Working   Holders'
                                   Assets    Capital     Equity
  Company           Ticker          ($MM)      ($MM)      ($MM)
   ------           ------         ------    -------   --------
AUTOZONE INC        AZO US        5,452.8     (293.1)    (462.0)
LORILLARD INC       LO US         3,140.0    1,654.0      (54.0)
DUN & BRADSTREET    DNB US        1,699.5     (454.1)    (778.3)
MEAD JOHNSON        MJN US        2,032.0      357.5     (509.3)
NAVISTAR INTL       NAV US        8,940.0    1,251.0   (1,198.0)
BOARDWALK REAL E    BEI-U CN      2,332.1        -        (57.6)
TAUBMAN CENTERS     TCO US        2,560.9        -       (510.5)
BOARDWALK REAL E    BOWFF US      2,332.1        -        (57.6)
COOPER-STANDARD     COSH US       1,686.4      433.1     (304.3)
CHOICE HOTELS       CHH US          390.2     (291.4)     (97.0)
SUN COMMUNITIES     SUI US        1,167.4        -       (123.0)
TENNECO INC         TEN US        2,980.0      286.0      (47.0)
CABLEVISION SYS     CVC US        7,364.2       54.8   (6,201.5)
WEIGHT WATCHERS     WTW US        1,093.0     (408.5)    (700.1)
UNISYS CORP         UIS US        2,714.4      366.1   (1,080.1)
WR GRACE & CO       GRA US        3,957.9    1,177.5     (234.4)
IPCS INC            IPCS US         559.2       72.1      (33.0)
PETROALGAE INC      PALG US           4.7      (13.9)     (48.0)
UAL CORP            UAUA US      20,134.0   (1,590.0)  (2,756.0)
MOODY'S CORP        MCO US        1,957.7     (134.2)    (491.9)
SUPERMEDIA INC      SPMD US       3,261.0      522.0      (22.0)
DISH NETWORK-A      DISH US       8,689.0      305.1   (1,850.3)
VECTOR GROUP LTD    VGR US          743.1      231.5      (13.4)
VENOCO INC          VQ US           799.5       10.6     (127.6)
HEALTHSOUTH CORP    HLS US        1,716.1       90.6     (474.5)
NATIONAL CINEMED    NCMI US         620.4      106.9     (462.7)
CHENIERE ENERGY     CQP US        1,883.2       37.6     (491.7)
EXPRESS INC         EXPR US         718.1       38.4      (81.8)
ARVINMERITOR INC    ARM US        2,769.0      345.0     (877.0)
PROTECTION ONE      PONE US         562.9       (7.6)     (61.8)
DISH NETWORK-A      EOT GR        8,689.0      305.1   (1,850.3)
THERAVANCE          THRX US         232.4      180.2     (126.0)
REGAL ENTERTAI-A    RGC US        2,588.9     (168.9)    (260.7)
JUST ENERGY INCO    JE-U CN       1,353.1     (513.7)    (503.2)
UNITED RENTALS      URI US        3,574.0       24.0      (50.0)
TEAM HEALTH HOLD    TMH US          797.4       52.1      (58.6)
INCYTE CORP         INCY US         502.7      332.9     (114.4)
CARDTRONICS INC     CATM US         449.3      (36.6)      (2.3)
DOMINO'S PIZZA      DPZ US          418.6       88.0   (1,263.1)
FORD MOTOR CO       F US        195,485.0   (7,269.0)  (5,437.0)
REVLON INC-A        REV US          776.3       76.9   (1,011.8)
LIBBEY INC          LBY US          794.2      144.4      (11.7)
GRAHAM PACKAGING    GRM US        2,126.4      187.6     (629.0)
WORLD COLOR PRES    WC CN         2,641.5      479.2   (1,735.9)
KNOLOGY INC         KNOL US         641.7       30.9      (28.3)
COMMERCIAL VEHIC    CVGI US         276.8      105.5      (10.7)
WORLD COLOR PRES    WCPSF US      2,641.5      479.2   (1,735.9)
WORLD COLOR PRES    WC/U CN       2,641.5      479.2   (1,735.9)
US AIRWAYS GROUP    LCC US        8,131.0     (220.0)    (168.0)
INTERMUNE INC       ITMN US         161.4      128.2      (46.5)
FORD MOTOR CO       F BB        195,485.0   (7,269.0)  (5,437.0)
AFC ENTERPRISES     AFCE US         114.6       (2.0)     (11.5)
SALLY BEAUTY HOL    SBH US        1,531.5      366.1     (553.1)
AMER AXLE & MFG     AXL US        2,027.7       31.7     (520.4)
ALASKA COMM SYS     ALSK US         627.4       15.0      (11.3)
RURAL/METRO CORP    RURL US         286.2       38.7     (100.9)
JAZZ PHARMACEUTI    JAZZ US         106.7      (31.2)     (69.0)
BROADSOFT INC       BSFT US          68.3        1.7       (6.4)
CENTENNIAL COMM     CYCL US       1,480.9      (52.1)    (925.9)
BLUEKNIGHT ENERG    BKEP US         303.6      (15.3)    (147.2)
WABASH NATIONAL     WNC US          249.0     (154.6)     (62.4)
RSC HOLDINGS INC    RRR US        2,690.2     (120.0)     (33.8)
EPICEPT CORP        EPCT SS           6.3        0.2      (12.7)
ALIMERA SCIENCES    ALIM US          16.3        3.5      (42.7)
HALOZYME THERAPE    HALO US          65.2       48.9       (3.2)
AMR CORP            AMR US       25,885.0   (2,015.0)  (3,930.0)
NPS PHARM INC       NPSP US         140.4       95.2     (227.6)
MANNKIND CORP       MNKD US         243.3        8.5     (100.9)
CC MEDIA-A          CCMO US      17,400.0    1,279.2   (7,054.8)
PDL BIOPHARMA IN    PDLI US         271.5      (66.5)    (434.9)
CENVEO INC          CVO US        1,563.5      212.7     (180.6)
SINCLAIR BROAD-A    SBGI US       1,576.6       48.1     (187.8)
ACCO BRANDS CORP    ABD US        1,064.0      242.5     (125.6)
SANDRIDGE ENERGY    SD US         2,971.7      (33.9)    (171.3)
LIN TV CORP-CL A    TVL US          783.5       28.7     (156.5)
PALM INC            PALM US       1,007.2      141.7       (6.2)
QWEST COMMUNICAT    Q US         19,362.0     (585.0)  (1,120.0)
PLAYBOY ENTERP-A    PLA/A US        196.6       (9.6)     (23.0)
PLAYBOY ENTERP-B    PLA US          196.6       (9.6)     (23.0)
NEXSTAR BROADC-A    NXST US         603.0       35.3     (179.7)
GENCORP INC         GY US           963.4      140.3     (241.2)
VIRGIN MOBILE-A     VM US           307.4     (138.3)    (244.2)
IDENIX PHARM        IDIX US          77.2       38.1       (7.3)
WARNER MUSIC GRO    WMG US        3,752.0     (557.0)    (116.0)
CONSUMERS' WATER    CWI-U CN        895.2       (5.3)    (254.9)
GLG PARTNERS INC    GLG US          403.5      155.5     (285.9)
GLG PARTNERS-UTS    GLG/U US        403.5      155.5     (285.9)
HOVNANIAN ENT-A     HOV US        2,029.1    1,358.9     (137.0)
EASTMAN KODAK       EK US         6,791.0    1,423.0     (208.0)
HOVNANIAN ENT-B     HOVVB US      2,029.1    1,358.9     (137.0)
GREAT ATLA & PAC    GAP US        2,677.1      (51.0)    (524.0)
MAGMA DESIGN AUT    LAVA US         122.1       14.4       (4.3)
ARIAD PHARM         ARIA US          50.4       (8.2)    (110.8)
ARRAY BIOPHARMA     ARRY US         131.5       21.5     (109.5)
MPG OFFICE TRUST    MPG US        3,517.3        -       (830.6)
EXELIXIS INC        EXEL US         284.2      (32.7)    (199.3)



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Howard
C. Tolentino, Joseph Medel C. Martirez, Denise Marie Varquez,
Philline Reluya, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2010.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


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