TCR_Public/100821.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 21, 2010, Vol. 14, No. 231

                            Headlines

CHEMTURA CORP: Earns $9 Million in July
GUARANTY FINANCIAL: Earns $186,404 in July
LEHMAN BROTHERS: Has $19.268 Billion Cash at End of July
MERVYN'S HOLDINGS: Reports $664,580 Total Expenses for June
MOVIE GALLERY: Has $16.18 Million Cash at July 4

QIMONDA NA: Posts $257,980 Net Loss in July
QIMONDA RICHMOND: Posts $23.8 Million Net Loss in July
STATION CASINOS: GV Ranch Reports $858,000 Net Loss for June
US ENERGY: Posts $29,277 Net Loss in April
US ENERGY: Reports $17,239 Net Income in May

US ENERGY: Posts $74,516 Net Loss in June
US ENERGY: Posts $30,000 Net Loss in July
VISTEON CORP: Reports $181,281,000 Net Loss for June

                            *********

CHEMTURA CORP: Earns $9 Million in July
---------------------------------------
On August 16, 2010, Chemtura Corporation filed with the U.S.
Bankruptcy Court for the Southern District of New York its monthly
operating report for July 2010.

Chemtura Corporation reported net earnings of $9 million on net
sales of $206 million for July.  Net income includes equity in net
earnings of subsidiaries of $10 million.  Reorganization items,
net amounted to $7 million.

At July 31, 2010, Chemtura had $4.053 billion in total assets,
$4.121 billion in total liabilities, and a stockholders' deficit
of $68 million.

The Debtor had cash and cash equivalents of $70 million at the end
of July, compared with cash and cash equivalents of $57 million
at the beginning of the period.

A full-text copy of the July 2010 monthly operating report is
available at no charge at http://researcharchives.com/t/s?6985

                       About Chemtura Corp.

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

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


GUARANTY FINANCIAL: Earns $186,404 in July
------------------------------------------
On August 13, 2010, Guaranty Financial Group Inc. and each of its
wholly owned subsidiaries, Guaranty Group Ventures Inc., Guaranty
Holdings Inc., and Guaranty Group Capital Inc. filed their
unaudited monthly operating reports for July 2010 with the United
States Bankruptcy Court for the Northern District of Texas, Dallas
Division.

Guaranty Financial Group reported net income of $186,404 for the
month of July 2010.  Net income includes $235,401 in insurance
premium refunds.  The Debtor incurred a total of $32,917 in
professional fees for the month.

At July 31, 2010, Guaranty Financial Group had $12,285,600 in
total assets, $328,938,674 in total liabilities, and
($316,653,074) in total equity.

Guaranty Financial had unrestricted cash of $10,319,220 and
restricted cash of $735,387 at July 31, 2010, for total cash of
$11,054,607, compared to total cash of $11,109,611 at June 30,
2010.

A full-text copy of Guaranty Financial Group's monthly operating
report is available for free at:

               http://researcharchives.com/t/s?6981

Guaranty Group Ventures reported net income of $315 for the month
of July 2010.

At July 31, 2010, Guaranty Group Ventures had $12,239,803 in
total assets, $371,185 in total liabilities, and $11,868,618 in
total equity.  Guaranty Group Ventures ended the month with
$6,284,419 cash, from $6,284,103 at the beginning of the period.

A full-text copy of Guaranty Group Ventures' monthly operating
report is available for free at:

               http://researcharchives.com/t/s?6982

Guaranty Holdings reported a net loss of $325 for the month of
July 2010.

At July 31, 2010, Guaranty Holdings had $7,170 in total assets
and $7,170 in total equity.

A full-text copy of Guaranty Holdings' monthly operating report is
available for free at http://researcharchives.com/t/s?6983

Guaranty Group Capital reported a net loss of $6 for the month
of July 2010.

At July 31, 2010, Guaranty Group Capital had $4,172,499 in total
assets and $4,172,499 in total equity.

A full-text copy of Guaranty Group Capital's monthly operating
report is available for free at:

               http://researcharchives.com/t/s?6984

                     About Guaranty Financial

Guaranty Financial Group Inc. -- http://www.guarantygroup.com/--
is based in Dallas, Texas.  Guaranty Financial is a unitary
savings and loan holding company. The Company's primary operating
entities are Guaranty Bank and Guaranty Insurance Services, Inc.
Guaranty Financial filed for bankruptcy after the Guaranty bank
was seized by regulators and sent to receivership under the
Federal Deposit Insurance Corporation.  Before the bank was taken
over, the balance sheet of the holding company had $15.4 billion
in assets as of Sept. 30, 2008.

Guaranty Financial together with affiliates filed for Chapter 11
on Aug. 27, 2009 (Bankr. N.D. Tex. Case No. 09-35582).  Attorneys
at Haynes & Boone, LLP, represent the Debtors.  According to the
schedules attached to its petition, the Company has assets of at
least $24,295,000, and total debts of $323,413,428, including
$305 million in trust preferred security.


LEHMAN BROTHERS: Has $19.268 Billion Cash at End of July
--------------------------------------------------------
Lehman Brothers Holdings Inc. disclosed these cash receipts and
disbursements of the company, its affiliated debtors and other
controlled entities for the month ended July 31, 2010:

Beginning Cash & Investments (7/1/10)  $18,922,000,000
Total Sources of Cash                      962,000,000
Total Uses of Cash                        (622,000,000)
FX Fluctuation                              (6,000,000)
                                        ---------------
Ending Cash & Investments (7/31/10)    $19,268,000,000

LBHI reported $ 2.075 billion in cash and investments as of
July 1, 2010 and $1.994 billion as of July 31, 2010.

The monthly operating report also showed that from September 15,
2008 to July 31, 2010, a total of $917.631 million was paid to
professionals including ordinary course professionals employed by
the Debtors, the Official Committee of Unsecured Creditors, the
Chapter 11 examiner and the Fee Examiner.  Of the amount,
$326.029 million was paid to Alvarez & Marsal LLC, the Debtors'
turnaround manager, while $212.273 million was paid to Weil
Gotshal & Manges LLP, the Debtors' lead bankruptcy counsel.

A full-text copy of the July 2010 Operating Report is available
for free at http://bankrupt.com/misc/LehmanMORJuly2010.pdf

                       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)


MERVYN'S HOLDINGS: Reports $664,580 Total Expenses for June
-----------------------------------------------------------
Carla Main at Bloomberg News reports that Mervyn's Holdings LLC, a
retailer that once had 177 stores and has sought liquidation,
submitted a debtor-in-possession operating report for the month
ending June.  The report also showed total expenses after credits,
professional fees, marketing and management costs of $664,580.
Disbursements after total expenses yielded a net loss of $224,796
for the period, according to court files.

                    About Mervyn's LLC

Headquartered in the San Francisco Bay Area, Mervyn's LLC --
http://www.mervyns.com/-- provided a mix of top national brands
and exclusive private labels.  Mervyn's had 176 locations in seven
states.  Mervyn's stores have an average of 80,000 retail square
feet, smaller than most other mid-tier retailers and easier to
shop, and are located primarily in regional malls, community
100 shopping centers, and freestanding sites.

The Company and its affiliates filed for Chapter 11 protection
(Bankr. D. Del. Case No. 08-11586) on July 29, 2008.  Howard
S. Beltzer, Esq., and Wendy S. Walker, Esq., at Morgan Lewis &
Bockius LLP, and Mark D. Collins, Esq., Daniel J. DeFranceschi,
Esq., Christopher M. Samis, Esq. and L. Katherine Good, Esq., at
Richards Layton & Finger P.A., represent the Debtors in their
restructuring efforts.  Kurtzman Carson Consultants LLC is the
Debtors' claims agent.  The Debtors' financial advisor is Miller
Buckfire & Co. LLC.  Mervyn's LLC's balance sheet at Aug. 30,
2008, showed $665,493,000 in total assets and $717,160,000 in
total liabilities resulting in a $51,667,000 total stockholders'
deficit.

In October 2008, Mervyn's disclosed its plans to close all stores
and wind down its assets.


MOVIE GALLERY: Has $16.18 Million Cash at July 4
------------------------------------------------

                      Movie Gallery, Inc.
              Unaudited Consolidated Balance Sheet
                      As of July 4, 2010
                         (in thousands)

ASSETS
Current assets:
Cash and cash equivalents                               $96,215
Merchandise inventory                                    16,178
Prepaid expenses                                         17,506
Accounts receivable and other                            36,339
Intercompany receivable                                     688
Assets held for sale                                        430
Income tax receivable                                     1,259
                                                      ---------
Total current assets                                    168,615

Rental inventory, net                                    51,978
Property, furnishings and equipment, net                  9,350
Other intangibles, net                                   17,055
Deposits and other assets                                18,092
Investment in subsidiaries                               38,258
                                                      ---------
Total assets                                           $303,348
                                                      =========

LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Current maturities of long-term obligations             $55,000
Accounts payable                                         11,334
Accrued liabilities                                      20,922
Accrued payroll                                           3,724
Accrued interest                                             36
                                                      ---------
Total current liabilities                                91,016

Other accrued liabilities                                 1,084
                                                      ---------
Total liabilities not subject to compromise              92,100

Liabilities subject to compromise                       896,586

Total liabilities                                       988,686

Stockholders' deficit:
Common stock                                                 37
Additional paid-in capital                              384,407
Accumulated deficit                                  (1,061,887)
Accumulated other comprehensive loss                     (7,895)
Total stockholders' deficit                            (685,338)

Total liabilities and stockholders' deficit            $303,348
                                                      =========

                      Movie Gallery, Inc.
         Unaudited Consolidated Statement of Operations
           For the period June 7, 2010 - July 4, 2010
                         (in thousands)

Revenue:
Rentals                                                 $32,708
Product sales                                            11,667
                                                      ---------
                                                         44,375
Cost of Sales:
Cost of rental revenues                                  25,763
Cost of product sales                                    20,431
                                                      ---------
                                                         46,194

Gross margin                                             (1,819)
Gross margin %                                             -4.1%

Rental margin                                             6,945
Rental margin %                                            21.2%

Product margin                                           (8,764)
Product margin %                                          -75.1%

Operating costs and expenses:
Store operating expenses                                 54,711
General and administrative                                2,166
Amortization of intangibles                                 310
Intercompany charges                                         (5)
                                                      ---------
                                                         57,412

Operating loss                                          (59,231)

Interest expense, net                                       873

Loss before reorganization items and income taxes       (60,104)

GAAP reversals                                                -
Reorganization items, net                               (12,414)
                                                      ---------
Loss before income taxes                                (47,690)

Income taxes                                              1,263

Net loss                                               ($46,427)
                                                      =========

                      Movie Gallery, Inc.
         Unaudited Consolidated Statement of Cash Flows
           For the period June 7, 2010 - July 4, 2010
                         (in thousands)

Net loss                                               ($46,427)
Adjustments to reconcile net income to net cash
provided by operating activities
Rental inventory amortization                           23,693
Purchases of rental inventory                             (710)
Reorganization items, net                              (14,129)
Depreciation and intangibles amortization                  566
Loss on closed store write-offs                          3,293
Gain on disposal of property, furnishings, equipment    (1,417)
Amortization of debt issuance cost                         650
Stock based compensation                                (2,436)
Changes in operating assets and liabilities
Merchandise inventory                                   20,834
Other current assets                                   (24,435)
Deposits and other assets                                1,885
Accounts payable                                       (18,580)
Accrued interest                                          (451)
Lease liability on closed stores                        39,369
Other accrued liabilities and deferred revenue          (4,232)
                                                      ---------
Net cash used in operating activities                   (22,527)

Investing Activities
Proceeds from disposal of property,
furnishings and equipment                                1,584
                                                      ---------
Net cash provided by investing activities                 1,584

Financing activities
Net borrowings(repayments) on revolving facilities            -
Change in intercompany payable                               (7)
                                                      ---------
Net cash used in financing activities                        (7)

Decrease in cash and cash equivalents                   (20,950)
Cash and cash equivalents at beginning of period        117,165
                                                      ---------
Cash and cash equivalents at end of period              $96,215
                                                      =========

                       About Movie Gallery

Based in Wilsonville, Ore., Movie Gallery, Inc., is the second
largest North American video and game rental company, operating
stores in the U.S. and Canada under the Movie Gallery, Hollywood
Video and Game Crazy brands.

Movie Gallery first filed for Chapter 11 on Oct. 16, 2007 (Bankr.
E.D. Va. Case Nos. 07-33849 to 07-33853).  Kirkland & Ellis LLP
and Kutak Rock LLP represented the Debtors.  The Company emerged
from bankruptcy on May 20, 2008, with private-investment firms
Sopris Capital Advisors LLC and Aspen Advisors LLC as its
principal owners.  William Kaye was appointed plan administrator
and litigation trustee.

Movie Gallery returned to Chapter 11 protection on February 3,
2009 (Bankr. E.D. Va. Case No. 10-30696).  Attorneys at
Sonnenschein Nath & Rosenthal LLP and Kutak Rock LLP represent the
Debtors in their second restructuring effort.  Kurtzman Carson
Consultants serves as claims and notice agent.

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


QIMONDA NA: Posts $257,980 Net Loss in July
-------------------------------------------
Qimonda North America Corp. reported a net loss of $257,980 for
the filing period ended July 30, 2010.

At July 30, 2010, the Company had $298.2 million in total assets,
$217.3 million in total liabilities, and a stockholders' equity of
$80.9 million.

The Company ended the period with $6.0 million cash, from
$6.1 million at the beginning of the period.

A copy of Qimonda North America's monthly operating report for the
period ended July 30, 2010, is available at no charge at:

        http://bankrupt.com/misc/qimondana.july2010mor.pdf

The Company reported a net loss of $325,307 for the filing period
ended July 2, 2010.

A copy of Qimonda North America's monthly operating report for the
period ended July 2, 2010, is available for free at:

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

The Company reported a net loss of $42,350 for the filing period
ended May 28, 2010.

A copy of Qimonda North America's monthly operating report for the
period ended May 28, 2010, is available for free at:

        http://bankrupt.com/misc/qimondana.may2010mor.pdf

The Company reported net income of $2.3 million for the filing
period ended April 30, 2010.

A copy of Qimonda North America's monthly operating report for the
period ended April 30, 2010, is available for free at:

       http://bankrupt.com/misc/qimondana.april2010mor.pdf

                        About Qimonda AG

Qimonda AG (NYSE: QI) -- http://www.qimonda.com/-- is a leading
global memory supplier with a diversified DRAM product portfolio.
The Company generated net sales of EUR1.79 billion in financial
year 2008 and had -- prior to its announcement of a repositioning
of its business -- approximately 12,200 employees worldwide, of
which 1,400 were in Munich, 3,200 in Dresden and 2,800 in
Richmond, Va.

Qimonda AG commenced insolvency proceedings in a local court in
Munich, Germany, on January 23, 2009.  On June 15, 2009, QAG filed
a petition (Bankr. E.D. Va. Case No. 09-14766) for relief under
Chapter 15 of the U.S. Bankruptcy Code.

Qimonda North America Corp., an indirect and wholly owned
subsidiary of QAG, is the North American sales and marketing
subsidiary of QAG.  QNA is also the parent company of Qimonda
Richmond LLC.  QNA and QR sought Chapter 11 protection (Bankr.
D. Del. Case No. 09-10589) on Feb. 20, 2009.  Mark D. Collins,
Esq., Michael J. Merchant, Esq., and Maris J. Finnegan, Esq.,
at Richards Layton & Finger PA, represent the Debtors.
Roberta A. DeAngelis, the United States Trustee for Region 3,
appointed seven creditors to serve on an official committee of
unsecured creditors.  Jones Day and Ashby & Geddes represent the
Committee.  In its bankruptcy petition, Qimonda Richmond, LLC,
estimated more than US$1 billion in assets and debts.  The
information, the Debtors said, was based on Qimonda Richmond's
financial records which are maintained on a consolidated basis
with Qimonda North America Corp.


QIMONDA RICHMOND: Posts $23.8 Million Net Loss in July
------------------------------------------------------
Qimonda Richmond, LLC, reported a net loss of $23.8 million for
the filing period ended July 30, 2010.  Net loss includes a
$20.7 million loss on sale of equipment.

At July 30, 2010, the Company had $184.4 million in total
assets, $1.039 billion in total liabilities, and a net owner
equity of ($854.8 million).

The Company ended July 2010 with $76.2 million in unrestricted
cash and equivalents and $52.5 million in restricted cash and
equivalents, for total cash of $128.7 million.  This compares to
total cash of $128.5 million at the beginning of the period.

The Company paid a total of $747,282 in professional fees and
expenses for the period.

A copy of Qimonda Richmond's monthly operating report for the
period ended July 30, 2010, is available for free at:

     http://bankrupt.com/misc/qimondarichmond.july2010mor.pdf

The Company reported net profit of $29.0 million for the filing
period ended July 2, 2010.

A copy of Qimonda Richmond's monthly operating report for the
period ended July 2, 2010, is available for free at:

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

The Company reported a net loss of $10.7 million for the filing
period ended May 28, 2010.

A copy of Qimonda Richmond's monthly operating report for the
period ended May 28, 2010, is available for free at:

     http://bankrupt.com/misc/qimondarichmond.may2010mor.pdf

The Company reported a net loss of $5.2 million for the filing
period ended April 30, 2010.

A copy of Qimonda Richmond's monthly operating report for the
period ended April 30, 2010, is available for free at:

    http://bankrupt.com/misc/qimondarichmond.april2010mor.pdf

                        About Qimonda AG

Qimonda AG (NYSE: QI) -- http://www.qimonda.com/-- is a leading
global memory supplier with a diversified DRAM product portfolio.
The Company generated net sales of EUR1.79 billion in financial
year 2008 and had -- prior to its announcement of a repositioning
of its business -- approximately 12,200 employees worldwide, of
which 1,400 were in Munich, 3,200 in Dresden and 2,800 in
Richmond, Va.

Qimonda AG commenced insolvency proceedings in a local court in
Munich, Germany, on January 23, 2009.  On June 15, 2009, QAG filed
a petition (Bankr. E.D. Va. Case No. 09-14766) for relief under
Chapter 15 of the U.S. Bankruptcy Code.

Qimonda North America Corp., an indirect and wholly owned
subsidiary of QAG, is the North American sales and marketing
subsidiary of QAG.  QNA is also the parent company of Qimonda
Richmond LLC.  QNA and QR sought Chapter 11 protection (Bankr.
D. Del. Case No. 09-10589) on Feb. 20, 2009.  Mark D. Collins,
Esq., Michael J. Merchant, Esq., and Maris J. Finnegan, Esq.,
at Richards Layton & Finger PA, represent the Debtors.
Roberta A. DeAngelis, the United States Trustee for Region 3,
appointed seven creditors to serve on an official committee of
unsecured creditors.  Jones Day and Ashby & Geddes represent the
Committee.  In its bankruptcy petition, Qimonda Richmond, LLC,
estimated more than US$1 billion in assets and debts.  The
information, the Debtors said, was based on Qimonda Richmond's
financial records which are maintained on a consolidated basis
with Qimonda North America Corp.


STATION CASINOS: GV Ranch Reports $858,000 Net Loss for June
------------------------------------------------------------
                      GV Ranch Station Inc.
                         Balance Sheet
                      As of June 30, 2010

Accounts and notes receivable:
Notes Receivable-GVR                                $5,000,000
Accrued Interest Receivable-GVR                        385,000
Reserve                                             (5,385,000)
                                                    -----------
Accounts & Notes Receivable, net                              0

Current Intercompanies
GVR-Management Fee                                           0
GVR-Management Fee Reserve                                   0
STN - Other Transfers                               93,239,000
STN - Carveout                                       7,651,000
STN - Intercompany Settlement                      (17,801,000)
                                                    -----------
Current Intercompanies, net                          83,089,000
                                                    -----------
Current deferred tax asset                                    0
                                                    -----------
Current Assets                                       83,089,000
Noncurrent deferred tax asset                         9,045,000
                                                    -----------
Noncurrent assets                                     9,045,000
                                                    -----------
Total Assets                                        $92,134,000
                                                    ===========

Liabilities & Equity
Liabilities subject to compromise                    $7,233,000
Accrued legal fees                                    1,854,000
                                                    -----------
Current Liabilities                                   9,087,000
                                                    -----------
Deficit investment in JV                             21,714,000
                                                    -----------
Total liabilities                                    30,801,000
                                                    -----------
APIC                                                105,411,000
Accumulated other comprehensive income(loss)                  0
Retained earnings(deficit), beginning year          (23,767,000)
Current year income (loss)                          (20,311,000)
                                                    -----------
Total members' equity                                61,333,000
                                                    -----------
Total Liabilities and Equity                        $92,134,000
                                                    ===========

                      GV Ranch Station Inc.
                        Income Statement
                For the Month Ended June 30, 2010

Operating Revenue:
Management Fees                                             $0
Other - GV Earnings                                    958,000
                                                    -----------
Gross revenue                                          958,000

Amortization of intangible asset                              0
Bad debt expense                                              0
                                                    -----------
Operating income(loss)                                  958,000

I/C interest expense                                    (18,000)
Interest income                                               0
Interest and other expense from JV's                 (2,216,000)
                                                    -----------
Income(loss)before income taxes and reorg. items     (1,276,000)
Reorganization items                                    (44,000)
                                                    -----------
Income(loss) before income taxes                     (1,320,000)
Income tax benefit                                      462,000
                                                    -----------
Net income(loss)                                      ($858,000)
                                                    ===========

                      GV Ranch Station Inc.
                     Statement of Cash Flows
                 For the Month Ended June 30, 2010

Cash flows from operating activities:
Net loss for the period                               ($858,000)
Adjustments to reconcile net loss to net cash
provided by(used in)operating activities:
Bad debt expense                                             0
Amortization expense                                         0
Reorganization costs                                    44,000
Losses from joint ventures                           1,258,000
Changes in assets and liabilities:
Intercompany receivables and payables, net            (462,000)
Deferred taxes                                               0
Accrued expenses and other current liabilities          18,000
Deferred income taxes                                        0
                                                    -----------
Total adjustments                                       858,000
Net cash provided by (used in) operating
activities before reorganization items                        0
                                                    -----------
Cash used for reorganization costs                            0
                                                    -----------
Net cash provided by (used in) operating activities           0

Cash flows from investing activities:                         0
                                                    -----------
Cash provided by (used in) investing activities:              0
                                                    -----------

Cash flows from financing activities:
Proceeds from (payments of) notes payable                     0
                                                    -----------
Cash provided by (used in) financing activities               0

Cash and cash equivalents:
Increase(decrease) in cash and cash equivalents               0
Balance, beginning of period                                  0
                                                    -----------
Balance, end of period                                       $0
                                                    ===========

                     GV Ranch Station Inc.
                Schedule of Cash Disbursement
              For the Month Ended June 30, 2010

Disbursements
Operating                                              $164,000
Professional fees                                             0
Payroll & Benefits                                            0
Payroll - Officers                                            0
Interest                                                      0
Principle payment                                             0
Taxes                                                         0
Master Lease Agreement                                        0
DIP Financing Repayment                                 157,000
Intercompany/Equity                                           0
                                                    -----------
Total Disbursements                                    $320,000
                                                    ===========

                       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.

Station Casinos Inc., together with its affiliates, filed for
Chapter 11 on July 28, 2009 (Bankr. D. Nev. Case No. 09-52477).
Milbank, Tweed, Hadley & McCloy LLP serves as legal counsel in the
Chapter 11 case; Brownstein Hyatt Farber Schreck, LLP, as
regulatory counsel; and Lewis and Roca LLP is local counsel.
Lazard Freres & Co. LLC is 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)


US ENERGY: Posts $29,277 Net Loss in April
------------------------------------------
U.S. Energy Systems, Inc., filed on August 11, 2010, its monthly
operating report for April 2010.

The Company reported a net loss of $29,277 for the period.

At April 30, 2010, the Company had $1,365 in total assets,
$713,772 in total liabilities, and a stockholders' deficit of
$712,407.

A copy of the Company's monthly operating report for April 2010 is
available for free at:

        http://bankrupt.com/misc/usenergy.april2010mor.pdf

                 About U.S. Energy Systems, Inc.

Based in Avon, Connecticut, U.S. Energy Systems, Inc. (Pink
Sheets: USEY) -- http://www.usenergysystems.com/-- owns green
power and clean energy and resources.  USEY owns and operates
energy projects in the United States and United Kingdom that
generate electricity, thermal energy and gas production.

The company filed for Chapter 11 protection on Jan. 9, 2008 (Bank.
S.D. N.Y. Case No. 08-10054).  Subsequently, 34 affiliates filed
separate Chapter 11 petitions.  Peter S. Partee, Esq., at
Hunton & Williams LLP, represents the Debtor in its restructuring
efforts.  Jefferies & Company, Inc., serves as the company's
financial advisor.  The Debtor selected Epiq Bankruptcy Solutions
LLC as noticing, claims and balloting agent.

The Official Committee of Unsecured Creditors has yet to be
appointed in these cases by the U.S. Trustee for Region 2.  When
the Debtors filed for protection from their creditors, they listed
total assets of $258,200,000 and total debts of $175,300,000.


US ENERGY: Reports $17,239 Net Income in May
--------------------------------------------
U.S. Energy Systems, Inc., filed on August 11, 2010, its monthly
operating report for May 2010.

The Company reported net income of $17,239 on $58,815 of total
operating revenue for the period.

At May 31, 2010, the Company had $60,180 in total assets, $755,349
in total liabilities, and a stockholders' deficit of $695,169.

A copy of the Company's monthly operating report for May 2010 is
available for free at:

         http://bankrupt.com/misc/usenergy.may2010mor.pdf

                 About U.S. Energy Systems, Inc.

Based in Avon, Connecticut, U.S. Energy Systems, Inc. (Pink
Sheets: USEY) -- http://www.usenergysystems.com/-- owns green
power and clean energy and resources.  USEY owns and operates
energy projects in the United States and United Kingdom that
generate electricity, thermal energy and gas production.

The company filed for Chapter 11 protection on Jan. 9, 2008 (Bank.
S.D. N.Y. Case No. 08-10054).  Subsequently, 34 affiliates filed
separate Chapter 11 petitions.  Peter S. Partee, Esq., at
Hunton & Williams LLP, represents the Debtor in its restructuring
efforts.  Jefferies & Company, Inc., serves as the company's
financial advisor.  The Debtor selected Epiq Bankruptcy Solutions
LLC as noticing, claims and balloting agent.

The Official Committee of Unsecured Creditors has yet to be
appointed in these cases by the U.S. Trustee for Region 2.  When
the Debtors filed for protection from their creditors, they listed
total assets of $258,200,000 and total debts of $175,300,000.


US ENERGY: Posts $74,516 Net Loss in June
-----------------------------------------
U.S. Energy Systems, Inc., filed on August 11, 2010, its monthly
operating report for June 2010.

The Company reported a net loss of $74,516 for the period.

At June 30, 2010, the Company had $31,515 in total assets,
$801,200 in total liabilities, and a stockholders' deficit of
$769,685.

A copy of the Company's monthly operating report for June 2010 is
available for free at:

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

                 About U.S. Energy Systems, Inc.

Based in Avon, Connecticut, U.S. Energy Systems, Inc. (Pink
Sheets: USEY) -- http://www.usenergysystems.com/-- owns green
power and clean energy and resources.  USEY owns and operates
energy projects in the United States and United Kingdom that
generate electricity, thermal energy and gas production.

The company filed for Chapter 11 protection on Jan. 9, 2008 (Bank.
S.D. N.Y. Case No. 08-10054).  Subsequently, 34 affiliates filed
separate Chapter 11 petitions.  Peter S. Partee, Esq., at
Hunton & Williams LLP, represents the Debtor in its restructuring
efforts.  Jefferies & Company, Inc., serves as the company's
financial advisor.  The Debtor selected Epiq Bankruptcy Solutions
LLC as noticing, claims and balloting agent.

The Official Committee of Unsecured Creditors has yet to be
appointed in these cases by the U.S. Trustee for Region 2.  When
the Debtors filed for protection from their creditors, they listed
total assets of $258,200,000 and total debts of $175,300,000.


US ENERGY: Posts $30,000 Net Loss in July
-----------------------------------------
U.S. Energy Systems, Inc. filed on August 11, 2010, its monthly
operating report for July 2010.

The Company reported a net loss of $30,000 for the period.

At July 31, 2010, the Company had $31,515 in total assets,
$831,200 in total liabilities, and a stockholders' deficit of
$799,685.

A copy of the Company's monthly operating report for July 2010 is
available for free at:

        http://bankrupt.com/misc/usenergy.july2010mor.pdf

                 About U.S. Energy Systems, Inc.

Based in Avon, Connecticut, U.S. Energy Systems, Inc. (Pink
Sheets: USEY) -- http://www.usenergysystems.com/-- owns green
power and clean energy and resources.  USEY owns and operates
energy projects in the United States and United Kingdom that
generate electricity, thermal energy and gas production.

The company filed for Chapter 11 protection on Jan. 9, 2008 (Bank.
S.D. N.Y. Case No. 08-10054).  Subsequently, 34 affiliates filed
separate Chapter 11 petitions.  Peter S. Partee, Esq., at
Hunton & Williams LLP, represents the Debtor in its restructuring
efforts.  Jefferies & Company, Inc., serves as the company's
financial advisor.  The Debtor selected Epiq Bankruptcy Solutions
LLC as noticing, claims and balloting agent.

The Official Committee of Unsecured Creditors has yet to be
appointed in these cases by the U.S. Trustee for Region 2.  When
the Debtors filed for protection from their creditors, they listed
total assets of $258,200,000 and total debts of $175,300,000.


VISTEON CORP: Reports $181,281,000 Net Loss for June
----------------------------------------------------

                      Visteon Corporation
                    Debtor's Balance Sheet
                     As of June 30, 2010


ASSETS
Current Assets:
  Cash and cash equivalents                        $300,880,000
  Restricted cash                                    94,425,000
  Accounts receivable, net                        4,366,565,000
  Inventories, net                                   16,828,000
  Other current assets                               48,971,000
                                                ---------------
Total current assets                              4,827,669,000

Property and equipment, net                          94,040,000
Equity in net asset of non-consolidated units        10,260,000
Other non-current assets                          1,337,085,000
                                                ---------------
Total Assets                                     $6,269,055,000
                                                ===============

LIABILITIES & SHAREHOLDERS' DEFICIT
Short-term debt, including current
portion of long-term debt                      $11,184,730,000
Accounts payable                                  1,217,435,000
Accrued employee liabilities                         36,435,000
Other current liabilities                            63,047,000
                                                ---------------
Total current liabilities                        12,501,646,000

Liabilities subject to compromise                 2,973,133,000

Long-term debt                                           23,000
Employee benefits, including pensions               279,192,000
Deferred income taxes                                92,194,000
Other non-current liabilities                       181,955,000
                                                ---------------
Total Liabilities                                16,028,142,000

Shareholders' equity (deficit)
Debtor's Shareholders' equity (deficit)
Common stock                                       131,053,000
Stock warrants                                     127,024,000
Additional paid-in capital                       2,219,745,000
Retained earnings (deficit)                    (11,834,665,000)
Accumulated other comprehensive income (loss)     (265,315,000)
Other                                               (3,939,000)
                                                ---------------
Total Debtor shareholders' equity (deficit)      (9,626,096,000)
Non-controlling interests                          (132,992,000)
                                                ---------------
Total shareholders' equity (deficit)             (9,759,088,000)
                                                ---------------
Total Liabilities and shareholders' equity       $6,269,055,000
                                                ===============

                      Visteon Corporation
                   Statements of Operations
               For the Month Ended June 30, 2010

Net sales
Products                                           $27,691,000
Services                                            18,500,000
                                                ---------------
                                                     46,191,000

Cost of Sales
  Products
    Materials                                        18,931,000
    Labor and overhead                                9,846,000
    Product engineering                              17,239,000
    Freight and duty                                    903,000
    Manufacturing spending                              738,000
    Warranty and recall                                  76,000
    Other                                            10,087,000
  Services                                           18,357,000
                                                ---------------
                                                     76,178,000
                                                ---------------
Gross margin                                        (29,988,000)

Selling, general and administrative expenses
Personnel                                            4,930,000
Depreciation                                         2,098,000
Other                                               (7,400,000)
                                                ---------------
                                                       (372,000)
Restructuring expenses                                  828,000
Reimbursement from Escrow Account                             0
Reorganization costs                                 21,622,000
Deconsolidation gain                                          0
Asset impairments and other (gains)/losses            4,491,000
                                                ---------------
Operating income (loss)                             (56,556,000)

Interest expense                                    125,577,000
Interest income                                         504,000
Equity in net income of non-consolidated affiliates     187,000
                                                ---------------
Income (loss) before income taxes                  (181,442,000)
Provision for income taxes                             (161,000)
                                                ---------------
Net Income (loss)                                  (181,281,000)
Net income attributable to
non-controlling interest                                     0
                                                ---------------
Net income (loss) attributable
to Visteon Corp.                                  ($181,281,000)
                                                ===============

                   Visteon Corporation, et al.
            Combined Schedules of Operating Cash Flow
                For the Month Ended June 30, 2010

Receipts:
Customer receipts                                  $163,692,000
Other receipts                                       38,425,000
Intercompany receipts                                53,104,000
                                                ---------------
Total receipts                                      255,221,000

Disbursements:
Payroll related                                     (26,353,000)
Operating disbursements                             (75,337,000)
Intercompany disbursements                         (132,855,000)
Other disbursements                                 (10,037,000)
                                                ---------------
Total Disbursements                                (244,582,000)
                                                ---------------
Net Cash Flow                                       $10,639,000

Beginning Cash Balance                              551,810,000
Net Cash Flow                                        10,639,000
Foreign Currency and other Adjustments               (1,019,000)
                                                ---------------
Ending Cash Balance                                $561,430,000
                                                ===============

                        About Visteon Corp

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is an automotive supplier
that designs, engineers and manufactures innovative climate,
interior, electronic and lighting products for automakers.  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
disclosed 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
effort.  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).



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Howard
C. Tolentino, Joseph Medel C. Martirez, Denise Marie Varquez,
Philline Reluya, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2010.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


                  *** End of Transmission ***