/raid1/www/Hosts/bankrupt/TCR_Public/100814.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Saturday, August 14, 2010, Vol. 14, No. 224

                            Headlines

ACCEPTANCE INSURANCE: Incurs $659,129 Net Loss in July
CITADEL BROADCASTING: Posts $4.7 Million Net Loss in May
DISTRIBUTED ENERGY: Ends May 2010 With $33,105 Cash
DISTRIBUTED ENERGY: End June 2010 With $29,732 Cash
FIRSTFED FINANCIAL: Posts $85,628 Net Loss in July

GENERAL GROWTH: Reports $885,728,000 Loss for June
GENERAL MOTORS: Old GM Has $994,231,000 Cash at End of June
IMPERIAL CAPITAL: Incurs $450,376 Net Loss in June
MIDDLEBROOK PHARMA: Posts $2.4 Million Net Loss in June
NEWPOWER HOLDINGS: Files Monthly Operating Report for June

VINEYARD NATIONAL: Posts $68,129 Net Loss in July

                            *********

ACCEPTANCE INSURANCE: Incurs $659,129 Net Loss in July
------------------------------------------------------
Acceptance Insurance Companies Inc. filed with the U.S. Bankruptcy
Court for the District of Nebraska on August 10, 2010, its monthly
operating report for July 2010.

For the month of July, Acceptance Insurance Companies Inc.
reported a net loss of $659,129.  Net loss for the month includes
equity in operating earnings of AIC of ($657,635).

As of July 31, the Debtor had $1.7 million in total assets,
$138.2 million in total liabilities, and a stockholders' deficit
of $136.5 million.

A full-text copy of the Debtor's July 2010 monthly operating
report is available for free at:

               http://researcharchives.com/t/s?68bf

                    About Acceptance Insurance

Headquartered in Council Bluffs, Iowa, Acceptance Insurance
Companies, Inc. -- http://www.aicins.com/-- is a Delaware
corporation established in 1968.  The Company now only owns
Acceptance Insurance Company, a Nebraska domestic insurance
company.  In late 1999 the Company began exiting the property and
casualty business and in 2001 discontinued the issuance or renewal
of policies other than crop insurance policies.  In December 2002
the Company discontinued the issuance or renewal of crop insurance
policies.

The Company filed for Chapter 11 protection on Jan. 7, 2005
(Bankr. D. Nebr. Case No. 05-80059).  The Debtor's affiliates --
Acceptance Insurance Services, Inc., and American Agrisurance,
Inc. -- each filed Chapter 7 petitions (Bankr. D. Nebr. Case Nos.
05-80056 and 05-80058) on January 7, 2005.  Jeffrey T. Wegner,
Esq., Patrick B. Griffin, Esq., at Kutak Rock LLP, Lewis S.
Wiener, Esq., at Sutherland, Asbill & Brennan, and Robert J.
Bothe, Esq., at McGrath, North, Mullin & Kratz, PC, represent
Acceptance Insurance Companies in its restructuring effort.

As reported in the Troubled Company Reporter on August 13, 2100,
John E. Martin, president and chief executive officer of the
Company, said in a regulatory filing that the company intends to
file a motion with U.S. Bankruptcy Court for the District of
Nebraska on August 13, 2010, to convert the Chapter 11 proceeding
to a proceeding under Chapter 7 of the Bankruptcy Code.


CITADEL BROADCASTING: Posts $4.7 Million Net Loss in May
--------------------------------------------------------
On July 30, 2010, Citadel Broadcasting Corporation filed with the
United States Bankruptcy Court for the Southern District of New
York an unaudited monthly operating report as of May 31, 2010.

The report is limited in scope, covers a limited time period and
has been prepared solely for the purpose of complying with
reporting requirements of the Court and the Bankruptcy Code.

The Debtors reported a net loss of $4.7 million on $67.8 million
of net revenue for the month ended May 31, 2010.

Citadel Broadcasting's schedule of cash receipts and disbursements
for May 2010 showed:

     Cash Beginning of Month       $121,388,572
     Total Receipts                 $59,546,776
     Total Disbursements            $48,337,982
     Net Cash Flow                  $11,208,794
     Cash End of Month             $132,597,366

At May 31, 2010, Citadel Broadcasting had $1.475 billion in
total assets and $2.513 illion in total liabilities, for a
stockholders' deficit of $1.038 billion.

A full-text copy of the monthly operating report is available for
free at http://researcharchives.com/t/s?68bb

                   About Citadel Broadcasting

Citadel Broadcasting Corporation (OTC BB: CTDB) --
http://www.citadelbroadcasting.com/-- is the third largest radio
group in the United States, with a national footprint reaching
more than 50 markets. Citadel is comprised of 166 FM stations and
58 AM stations in the nation's leading markets, in addition to
Citadel Media, which is one of the three largest radio networks in
the United States.

Citadel Broadcasting filed for Chapter 11 with 50 affiliates on
Dec. 20, 2009, in Manhattan (Bankr. S.D.N.Y. Case No. 09-17422).
The Company disclosed assets of $1.4 billion and debts of
$2.5 billion in its Chapter 11 filing.  Kirkland & Ellis LLP is
serving as legal counsel and Lazard Freres & Co. LLC.  As
financial advisor for the restructuring.  Kurtzman Carson
Consultants is serving as claims and notice agent.

On May 19, 2010, the Court entered an order confirming the
Debtors' Second Modified Joint Plan of Reorganization.  On June 3,
2010, the Debtors consummated their reorganization and the Plan
became effective.

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


DISTRIBUTED ENERGY: Ends May 2010 With $33,105 Cash
---------------------------------------------------
Distributed Energy Systems Corp. filed with the U.S. Bankruptcy
Court for the District of Delaware on July 2, 2010, a monthly
operating report for the filing period April 1, 2010, to May 31,
2010.

The Company's schedule of cash receipts and disbursements for
the period showed:

    Cash Beginning                   $594,163
    Total Receipts                         $0
    Total Disbursements              $561,058
    Net Cash Flow                   ($561,058)
    Cash End                          $33,105

A copy of Distributed Energy's monthly operating report is
available for free at:

http://bankrupt.com/misc/distributedenergy.april-may2010mor.pdf

Distributed Energy also filed on July 2, 2010, a monthly
operating report for the filing period April 1, 2010, to May 31,
2010, for Debtor Northern Power Systems/NPS Liquidating.

Northern Power's schedule of cash receipts and disbursements for
the reporting period showed:

    Cash beginning                 $1,205,483
    Total Receipts                     $6,000
    Total  Disbursements           $1,125,025
    Net Cash Flow                 ($1,119,025)
    Cash End                          $86,457

A copy of Northern Power Systems Inc.'s monthly operating report
is available for free at:

   http://bankrupt.com/misc/northernpower.april-may2010mor.pdf

Distributed Energy Systems Corp. and its wholly owned subsidiary,
Northern Power Systems Inc., now known as NPS Liquidating Inc.
filed for Chapter 11 bankruptcy protection on May 4, 2008 (Bankr.
D. Del. Lead Case No. 08-11101).  Robert S. Brady, Esq., Edward J.
Kosmowski, Esq., and Robert F. Poppiti, Jr., at Young, Conaway,
Stargatt & Taylor LLP represent the Debtors in their restructuring
efforts.  The Debtors selected Epiq Systems as their claims agent.
The U.S. Trustee for Region 3 appointed three creditors to serve
on an Official Committee of Unsecured Creditors.  Schuyler G.
Carroll, Esq., Robert M. Hirsh, Esq., and Karen McKinley, Esq., at
Arent Fox LLP, in New York, and John V. Fiorella, Esq., Charles C.
Brown, III, Esq., and "J" Jackson Shrum, Esq., at Archer &
Greiner, P.C., in Wilmington, Delaware, represent the Committee.
The Debtors disclosed in their schedules, assets of $19,593,387
and debts of $43,558,713.


DISTRIBUTED ENERGY: End June 2010 With $29,732 Cash
---------------------------------------------------
Distributed Energy Systems Corp. filed with the U.S. Bankruptcy
Court for the District of Delaware on July 15, 2010, a monthly
operating report for the filing period ended June 30, 2010.

The Company's schedule of cash receipts and disbursements for
June 2010 showed:

    Cash Beginning                    $29,742
    Total Receipts                         $0
    Total Disbursements                   $10
    Net Cash Flow                        ($10)
    Cash End                          $29,732

A copy of Distributed Energy's monthly operating report is
available for free at:

    http://bankrupt.com/misc/distributedenergy.june2010mor.pdf

Distributed Energy also filed on July 15, 2010, a monthly
operating report for the filing period ended June 30, 2010, for
Debtor Northern Power Systems/NPS Liquidating.

Northern Power's schedule of cash receipts and disbursements for
the reporting period showed:

    Cash beginning                    $43,661
    Total Receipts                         $0
    Total  Disbursements                   $2
    Net Cash Flow                         ($2)
    Cash End                          $43,659

A copy of Northern Power Systems Inc.'s monthly operating report
is available for free at:

      http://bankrupt.com/misc/northernpower.june2010mor.pdf

Distributed Energy Systems Corp. and its wholly owned subsidiary,
Northern Power Systems Inc., now known as NPS Liquidating Inc.
filed for Chapter 11 bankruptcy protection on May 4, 2008 (Bankr.
D. Del. Lead Case No. 08-11101).  Robert S. Brady, Esq., Edward J.
Kosmowski, Esq., and Robert F. Poppiti, Jr., at Young, Conaway,
Stargatt & Taylor LLP represent the Debtors in their restructuring
efforts.  The Debtors selected Epiq Systems as their claims agent.
The U.S. Trustee for Region 3 appointed three creditors to serve
on an Official Committee of Unsecured Creditors.  Schuyler G.
Carroll, Esq., Robert M. Hirsh, Esq., and Karen McKinley, Esq., at
Arent Fox LLP, in New York, and John V. Fiorella, Esq., Charles C.
Brown, III, Esq., and "J" Jackson Shrum, Esq., at Archer &
Greiner, P.C., in Wilmington, Delaware, represent the Committee.
The Debtors disclosed in their schedules, assets of $19,593,387
and debts of $43,558,713.


FIRSTFED FINANCIAL: Posts $85,628 Net Loss in July
--------------------------------------------------
FirstFed Financial Corp. filed on August 9, 2010, a monthly
operating report for the month of July 2010 with the U.S.
Bankruptcy Court for the Central District of California, Los
Angeles Division.  The report is unaudited and is not presented in
accordance with generally accepted accounting principles in the
United States.

The Company reported a net loss of $85,628 for the period.

At July 31, 2010, the Company had $4.6 million in total assets,
$159.8 million in total liabilities, and equity of
($155.2) million.  The Company ended the period with $4.3 million
in cash.

A full-text copy of the July 2010 operating report is available
for free at http://researcharchives.com/t/s?68c0

                     About FirstFed Financial

Irvine, Calif.-based FirstFed Financial Corp. is the bank
holding company for First Federal Bank of California and its
subsidiaries.  The Bank was closed by federal regulators on
December 18, 2009.

FirstFed Financial Corp. filed for Chapter 11 protection on
Jan. 6, 2010 (Bankr. C.D. Calif. Case No. 10-10150).  Jon L.
Dalberg, Esq., at Landau Gottfried & Berger LLP, represents the
Debtor in its restructuring efforts.  In its petition, the Debtor
listed assets of between $1 million and $10 million, and debts of
between $100 million and $500 million.


GENERAL GROWTH: Reports $885,728,000 Loss for June
--------------------------------------------------

                  General Growth Properties, Inc.
                Consolidated Condensed Balance Sheet
                        As of June 30, 2010

Assets
Investment in real estate:
Land                                            $2,903,635,000
Buildings and equipment                         18,862,591,000
Less accumulated depreciation                   (3,980,702,000)
Developments in progress                           372,067,000
                                             ------------------
    Net property and equipment                   18,157,591,000

Investment in and loans to/from Unconsolidated
Real Estate Affiliates                             383,114,000
Investment property and property held for
development and sale                             1,344,361,000
Investment in controlled non-debtor entities     3,870,452,000
                                             ------------------
    Net investment in real estate                23,755,518,000

Cash and cash equivalents                           500,810,000
Accounts and notes receivable, net                  309,589,000
Goodwill                                            199,664,000
Deferred expenses, net                              196,850,000
Prepaid expenses and other assets                   568,877,000
                                             ------------------
  Total assets                                  $25,531,308,000
                                             ==================

Liabilities and Equity:
Mortgages, notes and loans payable              $14,215,723,000
Investment in and loans to/from Unconsolidated
Real Estate Affairs                                 32,552,000
Deferred tax liabilities                            831,438,000
Accounts payable and accrued expenses             1,117,165,000
                                             ------------------
Liabilities not subject to compromise           16,196,878,000
                                             ------------------
Liabilities subject to compromise                7,856,257,000
                                             ------------------
Total liabilities                               24,053,135,000
                                             ------------------

Redeemable noncontrolling interests:
Preferred                                          120,756,000
Common                                              97,851,000
                                             ------------------
Total redeemable noncontrolling interests          218,607,000
                                             ------------------

Equity:
Common stock                                         3,188,000
Additional paid-in capital                       3,771,167,000
Retained earnings (accumulated deficit)         (2,453,459,000)
Accumulated other comprehensive loss                  (675,000)
Less common stock in treasury, at cost             (76,752,000)
                                             ------------------
Total stockholder's equity                       1,243,469,000
Noncontrolling interests in consolidated real
estate affiliates                                   16,097,000
                                             ------------------
Total equity                                     1,259,566,000
                                             ------------------
  Total liabilities and equity                  $25,531,308,000
                                             ==================

                  General Growth Properties, Inc.
                 Consolidated Statement of Income
                 For the Month ended June 30, 2010

Revenues:
Minimum rents                                   $2,005,528,000
Tenant recoveries                                  898,202,000
Overage rents                                       53,127,000
Land sales                                          61,715,000
Management fees and other corporate revenues        11,852,000
Other                                               80,163,000
                                             ------------------
  Total revenues                                  3,110,587,000
                                             ------------------
Expenses:
Real estate taxes                                  287,870,000
Property maintenance costs                         123,981,000
Marketing                                           34,715,000
Ground and other rents                              17,204,000
Other property operating costs                     513,381,000
Land sales operations                              132,148,000
Provision for doubtful accounts                     27,720,000
Property management and other costs                121,380,000
General and administrative                          60,619,000
Provisions for impairment                          830,328,000
Depreciation and amortization                      724,835,000
                                             ------------------
  Total expenses                                  2,874,181,000
                                             ------------------
Operating income (loss)                             236,406,000

Interest (expense) income, net                   (1,379,559,000)
                                             ------------------
Loss before income taxes, noncontrolling
interests, equity in income of Unconsolidated
Real Estate Affiliates and reorganization
items                                           (1,143,153,000)
Benefit (provision) for income taxes                (22,119,000)
Equity in income of Unconsolidated Real Estate
Affiliates                                         118,376,000
Reorganization items                                155,491,000
                                             ------------------
Net loss                                           (891,405,000)
Allocation to noncontrolling interests                5,677,000
                                             ------------------
Net (loss) income attributable to common
stockholders                                     ($885,728,000)
                                             ==================

The Debtors disclosed that for the month ended June 30, 2010, they
paid a total of $11,268,000 to almost 30 bankruptcy professionals,
with $5,047,000 going to Weil, Gotshal & Manges, LLP, as the
Debtors' lead bankruptcy counsel.

A full-text copy of the June 2010 MOR is available for free
at http://bankrupt.com/misc/ggp_june2010mor.pdf

                     About General Growth

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

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

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


GENERAL MOTORS: Old GM Has $994,231,000 Cash at End of June
-----------------------------------------------------------
              Motors Liquidation Company, et al.
      Unaudited Condensed Combined Statement of Net Assets
                     As of June 30, 2010

ASSETS:
Cash and cash equivalents                           $966,989,000
Due from affiliates                                        7,000
Other receivables                                         51,000
Prepaid expenses                                       2,931,000
Other current assets                                  24,253,000
                                               -----------------
Total Current Assets                                994,231,000

Property, plant and equipment
Land and building                                    80,574,000
Machinery and equipment                              46,589,000
                                               -----------------
Total property, plant and equipment                 127,163,000

Investment in GMC                                              -
Restricted cash                                       89,600,000
Other assets                                             224,000
                                               -----------------
Total Assets                                      $1,211,218,000
                                               =================

LIABILITIES:
DIP Financing                                     $1,229,268,000
Accounts payable                                      10,367,000
Due to GM LLC                                            663,000
Due to affiliates                                      1,115,000
Accrued sales, use and other taxes                     2,474,000
Accrued professional fees                             41,599,000
Other accrued liabilities                              6,455,000
                                               -----------------
Total current liabilities                         1,291,941,000

Liabilities subject to compromise                 32,216,370,000
                                               -----------------
Total Liabilities                                 33,508,311,000
                                               -----------------
Net Assets (Liabilities)                        ($32,297,093,000)
                                               =================

              Motors Liquidation Company, et al.
      Unaudited Condensed Combined Statement of Operations
               For the Month Ended June 30, 2010

Rental and other income                               $2,211,000
Selling, administrative and other expenses             5,313,000
                                               -----------------
Operating loss                                        (3,102,000)

Interest expense                                       5,120,000
Interest income                                         (360,000)
                                               -----------------
Loss before reorganization items
& income taxes                                       (7,862,000)

Reorganization items (gain)/loss                       3,946,000
                                               -----------------
Income (Loss) before income taxes                    (11,808,000)
Income taxes                                                  -
                                               -----------------
Net Income (Loss)                                   ($11,808,000)
                                               =================

              Motors Liquidation Company, et al.
      Unaudited Condensed Combined Statement of Cash Flows
               For the Month Ended June 30, 2010

Cash Flows from Operating Activities:
Net Income                                         ($11,808,000)

Adjustments to reconcile net income (loss) to
net cash provided by (used in) operating
activities:
Non-cash interest expense                             5,120,000
Reorganization items (gain)/loss                      3,946,000
Reorganization related payments                      (5,751,000)

Changes in assets & liabilities
Due from affiliates                                    (148,000)
Prepaid expenses                                        396,000
Due to /(due from) GM LLC                               166,000
Other receivables                                             -
Other current assets                                          -
Other assets                                                  -
Accounts payable                                        821,000
Accrued payroll & employee benefits                           -
Accrued sales, use and other taxes                      596,000
Other accrued liabilities                              (220,000)
                                               -----------------
Net Cash used in Operating Activities                 (6,882,000)

Cash Flows from Investing Activities:
Proceeds from disposal of assets                      1,496,000
Proceeds from sale & dissolution
of subsidiaries                                               -
Changes in restricted cash                                    -
                                               -----------------
Net cash provided by investing activities             1,496,000
                                               -----------------
Decrease in cash & cash equivalents                   (5,386,000)
Cash & cash equivalents at beginning of period       972,375,000
                                               -----------------
Cash & cash equivalents at end of period            $966,989,000
                                               =================

Motors Liquidation Co. Vice President and Treasurer James Selzer
said that for the month ended June 30, 2010, the Debtors paid a
total of $5,625,000 to 14 professionals retained in their
Chapter 11 cases:

Professional                                          Payment
------------                                          -------
AP Services, LLC                                   $3,037,000
Weil, Gotshal & Manges LLP                          1,097,000
FTI Consulting, Inc.                                  402,000
Kramer Levin Naftalis & Frankel LLP                   298,000
Togut, Segal & Segal LLP                              227,000
Plante & Moran, PLLC                                  140,000
Caplin & Drysdale, Chartered                          139,000
Claro Group, LLC                                       93,000
Brownfield Partners, LLC                               79,000
Butzel Long, PC                                        53,000
Stutzman, Bromberg, Esserman & Plifka, P.C.            43,000
Baker & McKenzie                                       15,000
Chapell & Associates, LLC                               1,000
Analysis, Research & Planning Corporation               1,000

A full-text copy of the June 2010 Operating Report is available
for free at http://bankrupt.com/misc/GMJune2010MOR.pdf

                       About General Motors

With its global headquarters in Detroit, Michigan, General Motors
Company -- http://www.gm.com/-- is one of the world's largest
automakers.  GM employs 205,000 people in every major region of
the world and does business in some 157 countries.  GM and its
strategic partners produce cars and trucks in 31 countries, and
sell and service these vehicles through the following brands:
Buick, Cadillac, Chevrolet, FAW, GMC, Daewoo, Holden, Jiefang,
Opel, Vauxhall and Wuling.  GM's largest national market is China,
followed by the United States, Brazil, Germany, the United
Kingdom, Canada, and Italy.  GM's OnStar subsidiary is the
industry leader in vehicle safety, security and information
services.

General Motors Co. is 60.8% owned by the U.S. Government.  It was
formed to acquire the operations of General Motors Corporation
through a sale under 11 U.S.C. Sec. 363 following Old GM's
bankruptcy filing.  The deal was closed on July 10, 2009, and Old
GM changed its name to Motors Liquidation Co.  Old GM remains
subject to a pending Chapter 11 reorganization case before the
U.S. Bankruptcy Court for the Southern District of New York.

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

                   About Motors Liquidation

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection on June 1, 2009 (Bankr. S.D.N.Y. Lead Case
No. 09-50026).  The Honorable Robert E. Gerber presides over the
Chapter 11 cases.  Harvey R. Miller, Esq., Stephen Karotkin, Esq.,
and Joseph H. Smolinsky, Esq., at Weil, Gotshal & Manges LLP,
assist the Debtors in their restructuring efforts.  Al Koch at AP
Services, LLC, an affiliate of AlixPartners, LLP, serves as the
Chief Executive Officer for Motors Liquidation Company.  GM is
also represented by Jenner & Block LLP and Honigman Miller
Schwartz and Cohn LLP as counsel.  Cravath, Swaine, & Moore LLP is
providing legal advice to the GM Board of Directors.  GM's
financial advisors are Morgan Stanley, Evercore Partners and the
Blackstone Group LLP.

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Unsecured Creditors
Holding Asbestos-Related Claims.  Lawyers at Kramer Levin Naftalis
& Frankel LLP serve as bankruptcy counsel to the Creditors
Committee.  Attorneys at Butzel Long serve as counsel regarding
supplier contract matters.  FTI Consulting, Inc., serves as
financial advisors to the Creditors Committee.  Elihu Inselbuch,
Esq., at Caplin & Drysdale, Chartered, represents the Asbestos
Committee.  Legal Analysis Systems, Inc., serves as asbestos
valuation analyst.

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


IMPERIAL CAPITAL: Incurs $450,376 Net Loss in June
--------------------------------------------------
On July 20, 2010, Imperial Capital Bancorp, Inc., filed its
unaudited monthly operating report with the Office of United
States Trustee for the month of June 2010.

The Company reported a net loss of $450,376 for the period.

At June 30, 2010, the Company had total assets of $42.6 million,
total liabilities of $101.7 million, and total equity of
($59.1) million.

A full-text copy of the Company's June 2010 monthly operating
report is available at no charge at:

               http://researcharchives.com/t/s?68bc

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


MIDDLEBROOK PHARMA: Posts $2.4 Million Net Loss in June
-------------------------------------------------------
On July 21, 2010, MiddleBrook Pharmaceuticals, Inc., filed its
unaudited monthly operating report for June 2010 with the U.S.
Bankruptcy Court for the District of Delaware.

The Company reported a net loss of $2.4 million on $583,064 of net
revenue for the month of June.

At June 30, 2010, the Company had $20.8 million in total assets,
($27.8) million in total liabilities, and stockholders'
equity of $7.0 million.  The Company ended June with $4.3 million
cash.

A full-text copy of the monthly operating report is available for
free at http://researcharchives.com/t/s?68c2

                 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 million to $50 million.

As reported in the Troubled Company Reporter on August, 3, 2010,
the Company completed he previously announced sale of
substantially all of its assets to Victory Pharma, Inc., on
July 30, 2010, in a sale conducted the provisions of Section 363
of the U.S. Bankruptcy Code and approved by the Bankruptcy Court
on July 28, 2010.


NEWPOWER HOLDINGS: Files Monthly Operating Report for June
----------------------------------------------------------
NewPower Holdings, Inc., filed its monthly operating report for
the period May 31, 2010, to June 30, 2010, with the U.S.
Bankruptcy Court for the Northern District of Georgia on August 3,
2010.

The Debtor had an opening cash balance of $470,000 and an ending
cash balance of $442,000.

A full-text copy of the Debtor's June 2010 operating report
is available for free at http://researcharchives.com/t/s?68be

NewPower Holdings Inc. (Pink Sheets: NWPWQ) and its debtor-
affiliates filed for Chapter 11 protection on June 11, 2002
(Bankr. N.D. Ga. 02-10836).  Paul K. Ferdinands, Esq., at King &
Spalding, and William M. Goldman, Esq., at Sidley Austin Brown &
Wood LLP, represent the Debtors as counsel.  When the Debtors
filed for protection from their creditors, they reported
$231,837,000 in assets and $87,936,000 in debts.

On August 15, 2003, the U.S. Bankruptcy Court for the Northern
District of Georgia, Newnan Division, confirmed the Second Amended
Chapter 11 Plan with respect to NewPower Holdings, Inc., and TNPC
Holdings, Inc., a wholly owned subsidiary of the Company.  That
Plan became effective on October 9, 2003, with respect to the
company and TNPC.

On February 28, 2003, the Bankruptcy Court confirmed The New
Power Company's Plan, and that Plan has been effective as of
March 11, 2003, with respect to New Power.  The New Power Company
is a wholly owned subsidiary of the company.


VINEYARD NATIONAL: Posts $68,129 Net Loss in July
-------------------------------------------------
On August 9, 2010, Vineyard National Bancorp filed its unaudited
report for the month of July 2010 with the Office of the
United States Trustee.

The Company ended July 2010 with $997,701 in cash.  The Company
had $1.1 million in total assets, $181.6 million in total
liabilities, and total equity of ($180.5) million.

The Company reported a net loss of $68,129 for the month.

A full-text copy of the Debtor's July 2010 monthly operating
report is available for free at:

               http://researcharchives.com/t/s?68c1

                    About Vineyard National

Vineyard National Bancorp (NASDAQ: VNBC) (AMEX: VXC.PR.D) --
http://www.vineyardbank.com/-- was the holding company for
Vineyard Bank, National Association, which provides community
banking services to businesses and individuals.

Vineyard Bank was closed July 17 by regulators, which appointed
the Federal Deposit Insurance Corporation as receiver.  To protect
the depositors, the FDIC entered into a purchase and assumption
agreement with California Bank & Trust, San Diego, California, to
assume all of the deposits of Vineyard Bank, N.A., excluding those
from brokers.

As of March 31, 2009, Vineyard Bank, N.A., had total assets of
$1.9 billion and total deposits of roughly $1.6 billion.  In
addition to assuming all of the deposits of the failed bank,
California Bank & Trust agreed to purchase roughly $1.8 billion of
assets.  The FDIC will retain the remaining assets for later
disposition.  California Bank & Trust purchased all deposits,
except about $134 million in brokered deposits, held by Vineyard
Bank, N.A.

Vineyard National Bancorp filed for Chapter 11 on June 21, 2009
(Bankr. C.D. Calif. Case No. 09-26401).



                           *********

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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