TCR_Public/100825.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Wednesday, August 25, 2010, Vol. 14, No. 235

                            Headlines


AEGIS MORTGAGE: Plan Confirmation Hearing Set for October 20
ALMATIS BV: Wins Nod for Butzel Long as Litigation Counsel
AMERICAN HEART: U.S. Trustee Wants Sale Procedures Denied
AMERICAN POST: Posts $498,500 Net Loss in Q2 Ended June 30
AMERICAN SAFETY: 2nd Lien Lenders Object to DIP Loan, Cash Use

AMERICAN SAFETY: Lenders Propose Own Plan of Reorganization
BARZEL INDUSTRIES: Wins Oct. 11 Extension of Plan Exclusivity
BERNARD MADOFF: Picard Seeks $34.6-Mil. Fee for 4 Mos. Work
BIO-KEY INT'L: Board Committee Dismisses CCR LLP as Accountant
BOSTON GENERATING: Court Moves Schedules Deadline to October 1

BOSTON GENERATING: Gets Okay to Hire Garden City as Claims Agent
BOSTON GENERATING: Taps Latham & Watkins as Bankruptcy Counsel
BOSTON GENERATING: Taps FTI Consulting as Restructuring Advisor
BOSTON GENERATING: Moody's Downgrades Sr. Secured Rating to 'C'
CARD ACTIVATION: Reports $29,800 Net Income for Q3 Ended June 30

CARIBBEAN PETROLEUM: Organizational Meeting for Aug. 26
CARIBE MEDIA: S&P Downgrades Rating to 'CCC-'; Gives Neg. Outlook
CASTLE KEY: A.M. Best Affirms 'bb-' Issuer Credit Rating
CENTAUR LLC: Fortune Valley Asset Draws No Competing Bids
CHINA DU: Posts $135,200 Net Loss in Q2 Ended June 30

CHINA IVY: Reports Net Income of $78,050 for Q2 Ended June 30
CHRYSLER FINANCIAL: DBRS Upgrades Issuer Rating to 'CCC' From 'C'
COLONIAL PROPERTIES: Fitch Affirms 'BB+' Issuer Default Rating
COMCAM INTERNATIONAL: Reports $775,700 Net Loss for 2nd Quarter
E*TRADE FIN'L: Registers 12.5MM Shares Under 2005 Equity Plan

EAU TECHNOLOGIES: Gets 1st Orders from Int'l Beverage Firm
EXTENDED STAY: Panel Withdraws Plea for Authority to Sue on LBO
EXTENDED STAY: Weil Gotshal Seeks $3.11MM for March-June
FLEETWOOD ENTERPRISES: Wins Approval to Divest 44-Acre Land
FORD CREDIT: DBRS Assigns 'BB' Final Rating With Stable Trend

FPL ENERGY: Moody's Affirms 'Ba2' Rating on Senior Secured Bonds
FPL ENERGY NAT'L: Moody's Affirms Ba2 Rating on Sr. Secured Bonds
FX REAL ESTATE: Sells $50,000 in Warrants to Sillerman et al.
GENERAL GROWTH: Hughes Heirs Propose W. Winius to Appraisal Panel
GENERAL GROWTH: OZ Management Has 5.66MM Shares of Stock

HUGHES TELEMATICS: Delays Offering of 5.13MM Shares
IMMEDIATEK INC: Posts $231,200 Net Loss in June 30 Quarter
INFOLOGIX INC: Hercules Converts $5-Mil. Term Loan to Stock
INNERGEX RENEWABLE: S&P Assigns 'BB' Rating on Preferred Shares
INNKEEPERS USA: Bryan Cave Represents Multiple Lenders

INNKEEPERS USA: Committee Proposes Morrison & Foerster as Counsel
INNKEEPERS USA: Dewey & LeBoeuf Represents Preferred Shareholders
INNKEEPERS USA: Perkins Coie Represents Multiple Lenders
INSTACARE CORP: Posts $276,700 Net Income in Q2 Ended June 30
INTEGRATED ENVIRONMENTAL: Posts $182,100 Net Loss in June 30 Qtr.

IXI MOBILE: In Need of Additional Capital; Form 10-Q Delayed
JONES SODA: Posts $1.6 Million Net Loss in June 30 Quarter
LEHMAN BROTHERS: LBIE Sues Dubai Holdings Over Swap Transactions
LEHMAN BROTHERS: SEC Interviews Former Execs. on Collapse
LEHMAN BROTHERS: $6 Billion in Claims Change Hands in June & July

LEHMAN BROTHERS: Weil Gotshal Asks for $46.7MM for Feb.-May
LEXICON UNITED: Delays Form 10-Q for June 30 Quarter
LEVEL 3: Director Ellis Raises Stake to 576,632 Shares
LINEAR TECHNOLOGY: To Buy Back $395.8MM 2027B Notes in November
LITHIUM TECHNOLOGY: Delays Filing of Form 10-Q for June 30 Quarter

LOCAL INSIGHT: S&P Cuts Ratings to 'CCC-', Gives Negative Outlook
MARKETING WORLDWIDE: Earns $695,800 in Q3 Ended June 30
MAYSVILLE INC: Cash Collateral Hearing Continued Until August 25
MESA AIR: Assumes Flight Training Services Agreements
MESA AIR: Exclusive Plan Filing Period Extended Until Oct. 21

MESA AIR: Proposes Methodology for CRAFT Claims
MEXICANA AIRLINES: Asked to Comply With Mandate for PFCs
MEXICANA AIRLINES: Resolves CIT Objection to Injunction
MEXICANA AIRLINES: Tenedora K, Pilots' Union Acquire Airline
MEXICANA AIRLINES: Union Negotiations Make Headway

MIG INC: Wins Court Approval Of Disclosure Statement
NEC HOLDINGS: Gores Group Buys Assets for $150 Million
NEFF CORP: Creditors Ask to File Papers Under Seal
NEW LEAF: Delays Filing Form 10-Q for June 30 Quarter
NUMOBILE INC: Posts $808,400 Net Loss in Q2 Ended June 30

OKLAHOMA FARM: A.M. Best Affirms 'bb' Issuer Credit Rating
PHILADELPHIA NEWSPAPERS: Emergency Hearing on Pension Funds Deal
PLATINUM STUDIOS: Posts $565,700 Net Loss in Q2 Ended June 30
PRM REALTY: Morris Issues Delaying; Nov. 2 Extension Sought
PROFESSIONAL VETERINARY: Seeks Bankruptcy Protection

QUANTUM CORP: Belluzzo Family Trust Acquires 100,000 Shares
QUANTUM CORP: Esber Trust Raises Stake to 125,000 Shares
QUANTUM CORP: Nordea Investment Raises Equity Stake to 5.2%
QUANTUM CORP: Private Capital Mgmt Reports 10.3% Equity Stake
QUIKSILVER INC: Moody's Upgrades Corporate Family Rating to 'B2'

RADIENT PHARMACEUTICALS: Posts $29.3 Million Net Loss in Q2 2010
RADIO ONE: Posts $2 Million Net Income in June 30 Quarter
RCLC INC: Delays Filing of Form 10-Q for June 30 Quarter
RED ROCKET: Wants Until December 16 to Propose Chapter 11 Plan
RITE AID: FMR, Fidelity Report 3.409% Equity Stake

RONSON AVIATION: Organizational Meeting to Form Panel on Aug. 26
RQB RESORT: Goldman Mortgage Denied Protective Order
SAINT VINCENTS: Hearing on Exclusivity Extension Set for Sept. 16
SAINT VINCENTS: Judge Approves $94-Million Asset Sales
SEA ISLAND: Asks Approval for $5 Million of DIP Financing

SEA ISLAND: Gets Court's Interim Nod to Use Cash Collateral
SECUREALERT INC: D&Os Get Shares as Series D Dividend Payment
SEITEL INC: S&P Raises Corporate Credit Rating to 'CCC+'
SINCLAIR BROADCAST: Secretary Smith Acquires 64,000 Shares
SOMMET GROUP: Court Approves Creditors' Chapter 7 Petition

SOUTHEAST TELEPHONE: Court Approves Chapter 11 Liquidating Plan
SPONGETECH DELIVERY: Organizational Meeting Set for Aug. 25
STEINWAY MUSICAL: S&P Gives Stable Outlook, Affirms 'B' Rating
TELTRONICS INC: Posts $3.2 Million Net Loss in June 30 Quarter
TENET HEALTHCARE: Completes $600 Million Senior Notes Offering

TENET HEALTHCARE: $781.5MM Tendered by Early Deadline
TRANSAX INT'L: Delays Filing of Form 10-Q for June 30 Quarter
TRIBUNE CO: Blue Lynx Media Opens Service Center in Texas
TRIMAS CORPORATION: Moody's Upgrades Corp. Family Rating to 'B2'
UNIVERSAL BUILDING: Says Sale Must Proceed Before Funds Run Out

U.S. AEROSPACE: Delays Filing of Form 10-Q for June 30 Quarter
VHGI HOLDINGS: Posts $636,300 Net Loss in Q2 Ended June 30
VIASPACE INC: Posts $776,000 Net Loss in June 30 Quarter
WASHINGTON MUTUAL: Asks for Documents From Equity Committee
WASHINGTON MUTUAL: Examiner Wins Nod for McKenna Long as Counsel

WASHINGTON MUTUAL: Settles ERISA Litigation for $49 Million
WLH INVESTMENTS: Prohibited to Access Compass Bank's Cash
WOODCREST CLUB: Plan of Liquidation Gets Court's Approval
WORKSTREAM INC: Magnetar Swaps Bonds for 23.2% Equity Stake
WORKSTREAM INC: Coghill Swaps Bonds for 47% Equity Stake

WORKSTREAM INC: New CEO John Long Holds 12.6MM Shares
YUKON-NEVADA GOLD: Posts $4.9 Million Net Loss in Q2 Ended June 30

* Fitch: Municipal Bond Ratings Cuts Outnumber Upgrades
* Loan Obligor Concentration Risk Decreased Marginally

* Upcoming Meetings, Conferences and Seminars


                            ********


AEGIS MORTGAGE: Plan Confirmation Hearing Set for October 20
------------------------------------------------------------
The Hon. Brendan L. Shannon of the U.S. Bankruptcy Court for the
District of Delaware will consider on October 20, 2010, at
10:00 a.m., ET, the confirmation of Aegis Mortgage Corporation, et
al.'s Plan of Liquidation, amended as of August 13.  The hearing
will be held at Courtroom 1, 824 Market Street, 6th Floor,
Wilmington, Delaware.  Objections, if any, are due 4:00 p.m. on
September 28.

According to the Disclosure Statement, the Plan provides for the
distribution of proceeds from the Debtors' various sales of their
assets.  The Plan proposes to substantially consolidate the
estates.

Pursuant to the Plan, the Debtors will ultimately be dissolved and
all existing interests in the Debtors will be extinguished and
cancelled.

               Treatment of Claims & Interests

   Class                                  Estimated Recovery
   -----                                  ------------------
    2 - Secured Claims                          100%

    3 - Convenience Claims                       20%

    4 - Consolidated Debtors
        Unsecured Claims                       5% - 15%

    5 - Consolidated Debtors
        EPD/Breach Claims                      5% - 15%

    6 - Velazquez claims                     not applicable

    7 - Aegis REIT Unsecured Claims           de minimis

    8 - Aegis REIT EPD/Breach Claims          de minimis

    9 - Intercompany Claims                       0%

   10 - Consolidated Debtors Equity Interest      0%

   11 - Aegis REIT Preferred Stock
         Equity Interests                     0% or de minimis

   12 - Aegis REIT Common Stock Equity
         Interests                                0%

The deadline for returning completed ballots is 7:00 p.m. on
September 28.  Ballots must be received by the Debtors' claims
agent at these addresses:

if by first class mail or USPS express mail:

     Aegis Mortgage Ballot Processing Center
     c/o Epiq Bankruptcy Solutions, LLC
     FDR Station, P.O. Box 5014
     New York, NY 10150-5014

if by overnight courier or hand delivery:

     Aegis Mortgage Ballot Processing Center
     c/o Epiq Bankruptcy Solutions, LLC
     757 Third Avenue, 3rd Floor
     New York, NY 10017

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

                 About Aegis Mortgage Corporation

Headquartered in Houston, Texas, Aegis Mortgage Corporation --
http://www.aegismtg.com/-- provided mortgage loan products to
brokers.

The Company together with 10 affiliates filed for Chapter 11
protection on Aug. 13, 2007 (Bankr. D. Del. Case No. 07-11119).
Laura Davis Jones, Esq., Henry C. Kevane, Esq., David M.
Berthenthal, Esq., at Pachulski Stang Ziehl & Jones LLP, serve as
counsel to the Debtors.  The Official Committee of Unsecured
Creditors is represented by Landis Rath & Cobb LLP.  Aegis
disclosed $138,265,342 in assets and $4,125,470 in liabilities as
of the Petition Date.


ALMATIS BV: Wins Nod for Butzel Long as Litigation Counsel
----------------------------------------------------------
Almatis B.V. and its affiliated debtors received approval from the
U.S. Bankruptcy Court to employ Butzel Long as their special
litigation conflicts counsel effective as of June 25, 2010.

The Debtors will tap Butzel Long to represent them in litigation
matters where their general bankruptcy counsel, Gibson Dunn &
Crutcher LLP, has a potential conflict, says Remco de Jong,
Almatis chief executive officer.

Butzel Long is a full-service law firm with a strong litigation
practice, the Debtors aver.  The Debtors selected Butzel due to
the firm's reputation in litigation matters, according to Mr. de
Jong.

Butzel Long has been assisting the Debtors in serving subpoenas
and other items related to their ongoing litigation in connection
with their proposed plan of reorganization since last month.

In return for its services, Butzel Long will be paid on an hourly
basis and will be reimbursed of its necessary expenses.  The
firm's attorneys expected to provide services and their hourly
rates are:

  Professionals           Position       Hourly Rates
  -------------           --------       ------------
  Martin Karlinsky        Shareholder       $675
  Regina Alter            Shareholder       $425
  Maria Caceres-Boneau    Associate         $325

Mr. Karlinsky, Esq., of Butzel Long assures the Court that his
firm does not hold nor represent interest that is adverse to the
Debtors' estates.

                       About Almatis Group

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

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

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

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


AMERICAN HEART: U.S. Trustee Wants Sale Procedures Denied
---------------------------------------------------------
The U.S. Bankruptcy Court for the District of Arizona will
consider on August 26, 2010, at 2:30 p.m. at Courtroom 702, the
U.S. Trustee's objection to Arizona Heart Institute, Ltd.'s sale
of assets to Hospital Development Number 1, Inc.

As reported in the Troubled Company Reporter on August 20, the
Debtor endorsed a pending deal with Vanguard Health to acquire
both Arizona Heart Hospital and Arizona Heart Institute for $6.1
million.

Hospital Development is a subsidiary of Vanguard Health.

Ilene J. Lashinsky, the U.S. Trustee for Region 14, objected to
the sale procedures, explaining that, among other things:

1. the break-up fee is not warranted;

2. the location of the sale, scheduled for September 21, must not
   be held in private at the office of Debtor's bankruptcy
   counsel; and

3. the Debtor cannot impose unlimited restriction on a competing
   bidder's ability to conduct due diligence.

                       About American Heart

Phoenix, Arizona-based Arizona Heart Institute, Ltd., is a
specialty outpatient clinic dedicated to the prevention, detection
and treatment of cardiovascular diseases. It was founded by Edward
B. Diethrich, M.D., in 1971, and at its height operated numerous
offices across the Phoenix metropolitan area.

Arizona Heart filed for Chapter 11 bankruptcy protection on
July 30, 2010 (Bankr. D. Ariz. Case No. 10-24062).  C. Taylor
Ashworth, Esq., and Christopher Graver, Esq., at Stinson Morrison
Hecker LLP, assist the Debtor in its restructuring effort.  The
Debtor disclosed $16,925,342 in assets and $8,115,541 in debts as
of the Petition Date.


AMERICAN POST: Posts $498,500 Net Loss in Q2 Ended June 30
----------------------------------------------------------
American Post Tension, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $498,546 on $2.1 million of revenue
for the three months ended June 30, 2010, compared with a net loss
of $515,504 on $1.9 million of revenue for the same period of
2009.

The Company's balance sheet as of June 30, 2010, showed
$2.6 million in total assets, $3.0 million in total liabilities,
and stockholders' deficit of $366,652.

Berman Hopkins Wright & LaHam, CPAs and Associates, LLP, in Winter
Park, Fla., expressed substantial doubt about the Company's
ability to continue as a going concern, following its 2009
results.  The independent auditors noted that the Company has
suffered recurring losses and operating cash outflows.

In its latest 10-Q, the Company discloses that due to the current
state of residential housing in its target markets, the level of
current operations may not sustain its expenses and it may have to
borrow additional funds to meet its cash needs.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?69ba

Henderson, Nev.-based American Post Tension, Inc. provides slab-
on-grade post-tensioning products and services.


AMERICAN SAFETY: 2nd Lien Lenders Object to DIP Loan, Cash Use
--------------------------------------------------------------
Carla Main at Bloomberg News reports that second-lien lenders are
objecting American Safety Razor LLC's request to access
$25 million of DIP financing and use cash collateral of the
secured lenders.  Second-lien lenders GSO/Blackstone Debt Funds
Management LLC and BlackRock Kelso Capital Corp. also object to
the Debtor's request to grant protection to prepetition secured
parties.  They also object to the terms of American Safety's
retention of Lazard Middle Market LLC as a financial adviser.

According to the report, GSO/Blackstone and BlackRock Kelso, which
together own 27.6% of the second-lien bank debt, assert in a court
filing that the Debtor could restructure through a plan of
reorganization rather than "throw the keys" to the first-lien
lenders, which are owed $245 million, it said in court papers.

                       About American Safety

American Safety Razor Company, LLC, doing business as Personna
American Safety Razor, makes private-label shaving razors and
blades.  Its products are sold through mass merchandisers, drug
stores and supermarkets under retailer names as well as under
ASR's brands (including Magnum, X5, Matrix3, Mystique, and
Personna).  In addition to shaving products, ASR manufactures and
distributes blades and bladed hand tools for a variety of
industrial uses and specialty industrial and medical blades. The
Company has roots going back to 1875.

American Safety, along with affiliates, filed for Chapter 11
protection on July 28, 2010 (Bankr. D. Del. Case No. 10-12351).
Mark J. Thompson, Esq., and Morris J. Massel, Esq., at Simpson
Thacher & Bartlett LLP, serve as the Debtors' bankruptcy
attorneys.  Howard A. Cohen, Esq., at Drinker Biddle & Reath LLP,
is co-counsel.  In addition, Lazard Middle Market LLC is the
Debtors' investment banker and Kurtzman Carson Consultants LLC is
their claims and notice agent.  American Safety estimated assets
at $100 million to $500 million and debts at $500 million to
$1 billion in its Chapter 11 petition.


AMERICAN SAFETY: Lenders Propose Own Plan of Reorganization
-----------------------------------------------------------
Bankruptcy Law360 reports that American Safety Razor Co.'s second-
lien lenders want to propose their own plan of reorganization as
an alternative to the company's deal to sell the bulk of its
assets to its first-lien debt holders.

BlackRock Kelso Capital Corp. filed an objection to the Debtor's
request for $25 million in postpetition financing filed Thursday
in the U.S. Bankruptcy Court for the District of Delaware.

                        About American Safety

American Safety Razor Company, LLC, doing business as Personna
American Safety Razor, manufactures private-label shaving razors
and blades.  ASR also makes and distributes blades and bladed hand
tools for a variety of industrial uses and specialty industrial
and medical blades.  The Company has roots going back to 1875.

American Safety, along with affiliates, filed for Chapter 11
protection in July 2010 (Bankr. D. Del. Case No. 10-12351).  Mark
J. Thompson, Esq., and Morris J. Massel, Esq., at Simpson Thacher
& Bartlett LLP, serve as bankruptcy attorneys.  Howard A. Cohen,
Esq., at Drinker Biddle & Reath LLP, is co-counsel.  In addition,
Lazard Middle Market LLC is the investment banker and Kurtzman
Carson Consultants LLC is the claims and notice agent.  American
Safety estimated assets at $100 million to $500 million and debts
at $500 million to $1 billion in its Chapter 11 petition.


BARZEL INDUSTRIES: Wins Oct. 11 Extension of Plan Exclusivity
-------------------------------------------------------------
Carla Main at Bloomberg News reports that Barzel Industries Inc.
obtained an October 11 extension of the exclusive right to propose
a Chapter 11 plan.  It also received from Bankruptcy Judge
Christopher Sontchi an order extending until December 8 its
exclusive period to solicit acceptances of the plan.

As it did in the prior motions for longer exclusivity, the Company
said it's evaluating whether "a liquidating plan is feasible."
Barzel sold most of its assets in November 2009 to Chriscott USA
Inc. for $75 million.

                      About Barzel Industries

Norwood, Massachusetts-based Barzel Industries, Inc., processes
and distributes steel.  The Company manufactures steel for the
construction and industrial manufacturing industries, and produces
finished commercial racking products.

Barzel Industries -- aka Novamerican Steel Inc. and Symmetry
Holdings Inc. -- and seven affiliates filed for Chapter 11 on
September 15, 2009 (Bankr. D. Del. Case No. 09-13204). Judge
Christopher S. Sontchi presides over the cases. J. Kate Stickles,
Esq., at Cole, Schotz, Meisel, Forman & Leonard, in Wilmington,
Delaware, and Karen M. McKinley, Esq., and Norman L. Pernick,
Esq., at Cole Scholtz Meisel Forman Leonard, P.A., in Wilmington,
Delaware, serve as the Debtors' legal counsel.

On the same day, Barzel Industries filed applications for relief
under the Canadian Companies' Creditors Arrangement Act in the
Ontario Superior Court of Justice -- Commercial List.

Barzel Industries recorded assets of $370,145,000 against debts of
$375,412,000 as of May 30, 2009.


BERNARD MADOFF: Picard Seeks $34.6-Mil. Fee for 4 Mos. Work
-----------------------------------------------------------
Carla Main at Bloomberg News reports that Irving Picard, the
trustee liquidating Bernard Madoff's investment firm, is asking
U.S. Bankruptcy Judge Burton Lifland to approve fees of $34.6
million for legal work done from February through May, bringing
his total requests to $96.7 million.  "Thousands of hours have
been expended" by the trustee and his firm", according to the fee
request by Mr. Picard and his law firm, Baker & Hostetler LLP.

According to Bloomberg, Mr. Picard has recovered more than $1.5
billion for Mr. Madoff's victims.  He said the fees in the case
are paid by the Securities Investor Protection Corp. and don't
reduce the amount of money available to pay Mr. Madoff's
creditors.

                    About Bernard L. Madoff

Bernard L. Madoff Investment Securities LLC and Bernard L.
Madoff orchestrated the largest Ponzi scheme in history, with
losses topping US$50 billion.

On December 15, 2008, the Honorable Louis A. Stanton of the U.S.
District Court for the Southern District of New York granted the
application of the Securities Investor Protection Corporation for
a decree adjudicating that the customers of BLMIS are in need of
the protection afforded by the Securities Investor Protection Act
of 1970.  The District Court's Protective Order (i) appointed
Irving H. Picard, Esq., as trustee for the liquidation of BLMIS,
(ii) appointed Baker & Hostetler LLP as his counsel, and (iii)
removed the SIPA Liquidation proceeding to the Bankruptcy Court
(Bankr. S.D.N.Y. Adv. Pro. No. 08-01789) (Lifland, J.).

On April 13, 2009, former BLMIS clients filed an involuntary
Chapter 7 bankruptcy petition against Bernard Madoff (Bankr.
S.D.N.Y. 09-11893).  The case is before Hon. Burton Lifland.  The
petitioning creditors -- Blumenthal & Associates Florida General
Partnership, Martin Rappaport Charitable Remainder Unitrust,
Martin Rappaport, Marc Cherno, and Steven Morganstern -- assert
$64 million in claims against Mr. Madoff based on the balances
contained in the last statements they got from BLMIS.

On April 14, 2009, Grant Thornton UK LLP as receiver placed Madoff
Securities International Limited in London under bankruptcy
protection pursuant to Chapter 15 of the U.S. Bankruptcy Code
(Bankr. S.D. Fla. 09-16751).

The Chapter 15 case was later transferred to Manhattan.  In June
2009, Judge Lifland approved the consolidation of the Madoff SIPA
proceedings and the bankruptcy case.

Judge Denny Chin of the U.S. District Court for the Southern
District of New York on June 29, 2009, sentenced Mr. Madoff to
150 years of life imprisonment for defrauding investors in
United States v. Madoff, No. 09-CR-213 (S.D.N.Y.)

As of August 13, 2010, a total of $5,578,441,409 in claims by
investors has been allowed, with $715,602,064 to be paid by the
SIPC.  Investors are expected to receive additional distributions
from money recovered by Mr. Picard.

Mr. Picard has recovered a number of assets and in liquidated
some of those assets for the benefit of customers, totaling
$1,183,779,811 as of November 2009.


BIO-KEY INT'L: Board Committee Dismisses CCR LLP as Accountant
--------------------------------------------------------------
The Audit Committee of the Board of Directors of BIO-key
International Inc. dismissed on Aug. 11, 2010, CCR LLP as the
Company's independent registered public accounting firm.  The
reports issued by CCR on their audit of the Company's financial
statements for each of the past two fiscal years did not contain
an adverse opinion or disclaimer of opinion, nor were they
qualified or modified as to uncertainty, audit scope or accounting
principles, except that the reports issued by CCR on their audit
of the Company's financial statements as of and for the fiscal
years ended December 31, 2008 and December 31, 2009 included an
explanatory paragraph in their opinion for the years as to the
substantial doubt about the Company's ability to continue as a
going concern.

During the Company's preparation of its quarterly report on Form
10-Q for the quarter ended June 30, 2010, CCR informed the Company
that it believed that all revenue related to a contract awarded to
the Company during the quarter for the deployment of the Company's
WEB-key software to one of the nation's foremost organizations
specializing in transfusion medicine and related services for
donor identification purposes would need to be deferred to future
periods.  The Company disagreed with that conclusion, however, and
believes that a portion of the revenue related to that contract
can properly be recognized during the quarter ended June 30.  The
Company's position on this matter has been supported by its
management, including its Chief Financial Officer, the Audit
Committee of the Company's Board of Directors and an independent
consultant retained by the Company who regularly assists the
Company in preparing its financial reports.  Rotenberg Meril
Solomon Bertiger & Guttilla, P.C. agrees with the Company's
position on this matter.

The Audit Committee and members of the Company's management have
discussed the subject matter of this disagreement with CCR's audit
partner for this engagement.  The Company has authorized CCR to
respond fully to any inquiries of RMSBG concerning the subject
matter of this disagreement.

On Aug. 11, 2010, the Company engaged RMSBG, a New Jersey-based
firm, to serve as the Company's independent registered public
accounting firm for the fiscal year ended December 31, 2010.  The
Company's engagement of RMSBG was approved by the Audit Committee.

                           About BIO-key

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

The Company's balance sheet at June 30, 2010, showed $6,865,887 in
total assets, $1,865,592 in total liabilities, and $2,051,468 in
stockholders' equity.

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


BOSTON GENERATING: Court Moves Schedules Deadline to October 1
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Hon. Shelley C. Chapman of the
Southern District of New York extended, at the behest of Boston
Generating, LLC, et al., the deadline for the filing of schedules
of assets and liabilities and statement of financial affairs until
October 1, 2010.

The Debtors say that the Debtors have been unable to compile all
of the information required to complete the schedules and
statement, given the size and complexity of their business
operations, the number of creditors, the fact that certain
prepetition invoices have likely not yet been received, and the
extensive efforts that the Debtors' management and other
professionals devoted to the preparation of filing the Chapter 11
cases.

                       About Boston Generating

New York-based and privately-held Boston Generating, LLC, owns
nearly 3,000 megawatts of mostly modern natural gas-fired power
plants in the Boston area.  It is an indirect subsidiary of US
Power Generating Co., and considers itself as the third-largest
fleet of plants in New England.

Boston Generating filed for Chapter 11 protection on August 18,
2010 (Bankr. S.D.N.Y. Case No. 10-14419).  Boston Generating
estimated its assets and debts at more than $1 billion as of the
Petition Date.

EBG Holdings LLC; Fore River Development, LLC; Mystic, LLC; Mystic
Development, LLC; BG New England Power Services, Inc.; and BG
Boston Services, LLC, filed separate Chapter 11 petitions.

D. J. Baker, Esq., at Latham & Watkins LLP, serves as bankruptcy
counsel to the Debtors.  JP Morgan Securities is the Debtors'
investment banker.  Perella Weinberg Partners, LP, is the Debtors'
financial advisor.  Brown Rudnick LLP is the Debtors' regulatory
counsel.  FTI Consulting, Inc., is the Debtors' restructuring
consultant.  Anderson Kill & Olick, P.C., is the Debtors'
conflicts counsel.  The Garden City Group, Inc., is the Debtors'
claims agent.


BOSTON GENERATING: Gets Okay to Hire Garden City as Claims Agent
----------------------------------------------------------------
Boston Generating, LLC, et al., sought and obtained authorization
from the Hon. Shelley C. Chapman of the U.S. Bankruptcy Court for
the Southern District of New York to employ The Garden City Group,
Inc., as claims and noticing agent, nunc pro tunc to the Petition
Date.

GCG will, among other things:

     a. serve required notices and other pleadings;

     b. assist the Debtors in the collection of information and
        preparation of the schedules;

     c. maintain a copy of the Debtors' schedules listing the
        Debtors' known creditors and the amounts owed thereto; and

     d. maintain copies of proofs of claim and proofs of interest
        filed in the Chapter 11 cases.

GCG personnel will be paid based on these hourly rates:

    Administrative & Data Entry                $45 to $55
    Mailroom and Claims Control                   $55
    Customer Service Representatives              $57
    Project Administrators                     $70 to $85
    Quality Assurance Staff                    $80 to $125
    Project Supervisors                        $95 to $110
    Systems & Technology Staff                $100 to $200
    Graphic Support for Web site                 $125
    Project Managers                          $125 to $175
    Directors, Sr. Consultants and Asst. VP   $200 to $295
    Vice President and above                     $295

A copy of the Retention Agreement is available for free at:

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

Jeffery S. Stein, GCG Vice President, assures the Court that the
firm is "disinterested" as that term is defined in Section 101(14)
of the Bankruptcy Code.

                      About Boston Generating

New York-based and privately-held Boston Generating, LLC, owns
nearly 3,000 megawatts of mostly modern natural gas-fired power
plants in the Boston area.  It is an indirect subsidiary of US
Power Generating Co., and considers itself as the third-largest
fleet of plants in New England.

Boston Generating filed for Chapter 11 protection on August 18,
2010 (Bankr. S.D.N.Y. Case No. 10-14419).  Boston Generating
estimated its assets and debts at more than $1 billion as of the
Petition Date.

EBG Holdings LLC; Fore River Development, LLC; Mystic, LLC; Mystic
Development, LLC; BG New England Power Services, Inc.; and BG
Boston Services, LLC, filed separate Chapter 11 petitions.

D. J. Baker, Esq., at Latham & Watkins LLP, serves as bankruptcy
counsel to the Debtors.  JP Morgan Securities is the Debtors'
investment banker.  Perella Weinberg Partners, LP, is the Debtors'
financial advisor.  Brown Rudnick LLP is the Debtors' regulatory
counsel.  FTI Consulting, Inc., is the Debtors' restructuring
consultant.  Anderson Kill & Olick, P.C., is the Debtors'
conflicts counsel.


BOSTON GENERATING: Taps Latham & Watkins as Bankruptcy Counsel
--------------------------------------------------------------
Boston Generating, LLC, et al., ask the U.S. Bankruptcy Court for
the Southern District of New York to employ Latham & Watkins LLP,
nunc pro tunc to the Petition Date.

L&W will, among other things:

     a. attend meetings and negotiate with representatives of
        creditors, interest holders and other parties-in-interest;

     b. prepare motions, applications, answers, orders, reports
        and papers necessary to the administration of the Debtors'
        estates;

     c. take necessary action to negotiate, prepare and obtain
        approval of a disclosure statement and confirmation of a
        plan of reorganization or plan of liquidation; and

     d. advise the Debtors in connection with any potential sale
        of assets and take necessary action to guide the Debtors
        through a potential sale of their assets in the Court.

L&W will be paid based on the hourly rates of its personnel:

        Associates                 $370-$740
        Counsel                   $695-$1,065
        Partners                  $750-$1,090
        Paraprofessionals           $95-$430

D. J. Baker, Esq., a partner in L&W, assures the Court that the
firm is "disinterested" as that term is defined in Section 101(14)
of the Bankruptcy Code.

                       About Boston Generating

New York-based and privately-held Boston Generating, LLC, owns
nearly 3,000 megawatts of mostly modern natural gas-fired power
plants in the Boston area.  It is an indirect subsidiary of US
Power Generating Co., and considers itself as the third-largest
fleet of plants in New England.

Boston Generating filed for Chapter 11 protection on August 18,
2010 (Bankr. S.D.N.Y. Case No. 10-14419).  Boston Generating
estimated its assets and debts at more than $1 billion as of the
Petition Date.

EBG Holdings LLC; Fore River Development, LLC; Mystic, LLC; Mystic
Development, LLC; BG New England Power Services, Inc.; and BG
Boston Services, LLC, filed separate Chapter 11 petitions.

JP Morgan Securities is the Debtors' investment banker.  Perella
Weinberg Partners, LP, is the Debtors' financial advisor.  Brown
Rudnick LLP is the Debtors' regulatory counsel.  FTI Consulting,
Inc., is the Debtors' restructuring consultant.  Anderson Kill &
Olick, P.C., is the Debtors' conflicts counsel.  The Garden City
Group, Inc., is the Debtors' claims agent.


BOSTON GENERATING: Taps FTI Consulting as Restructuring Advisor
---------------------------------------------------------------
Boston Generating, LLC, et al., ask for authorization from the
U.S. Bankruptcy Court for the Southern District of New York to
employ FTI Consulting, Inc., as restructuring advisor, nunc pro
tunc to the Petition Date.

FTI will, among other things:

     a. assist the Debtors in the preparation of financial related
        disclosures required by the Court, including the schedules
        of assets and liabilities, the statement of financial
        affairs and monthly operating reports;

     b. assist with the identification and implementation of
        short-term cash management procedures;

     c. assist with the implementation of court orders; and

     d. assist with the development of accounting and operating
        procedures to segregate prepetition and postpetition
        business transactions.

FTI will be paid based on the hourly rates of its personnel:

        Senior Managing Director                   $755-$885
        Directors/Managing Directors               $545-$725
        Consultants/Senior Consultants             $270-$515
        Paraprofessionals                          $110-$225

Randall S. Eisenberg, FTI Senior Managing Director, assures the
Court that the firm is "disinterested" as that term is defined in
Section 101(14) of the Bankruptcy Code.

                       About Boston Generating

New York-based and privately-held Boston Generating, LLC, owns
nearly 3,000 megawatts of mostly modern natural gas-fired power
plants in the Boston area.  It is an indirect subsidiary of US
Power Generating Co., and considers itself as the third-largest
fleet of plants in New England.

Boston Generating filed for Chapter 11 protection on August 18,
2010 (Bankr. S.D.N.Y. Case No. 10-14419).  Boston Generating
estimated its assets and debts at more than $1 billion as of the
Petition Date.

EBG Holdings LLC; Fore River Development, LLC; Mystic, LLC; Mystic
Development, LLC; BG New England Power Services, Inc.; and BG
Boston Services, LLC, filed separate Chapter 11 petitions.

D. J. Baker, Esq., at Latham & Watkins LLP, serves as bankruptcy
counsel to the Debtors.  JP Morgan Securities is the Debtors'
investment banker.  Perella Weinberg Partners, LP, is the Debtors'
financial advisor.  Brown Rudnick LLP is the Debtors' regulatory
counsel.  Anderson Kill & Olick, P.C., is the Debtors' conflicts
counsel.  The Garden City Group, Inc., is the Debtors' claims
agent.


BOSTON GENERATING: Moody's Downgrades Sr. Secured Rating to 'C'
---------------------------------------------------------------
Moody's Investors Service downgraded the 2nd lien senior secured
rating of Boston Generating, LLC, to C from Ca.  The 1st lien Caa2
senior secured rating remains unchanged.

Downgrades:

Issuer: Boston Generating LLC

  -- Senior Secured Bank Credit Facility, Downgraded to C from Ca

Outlook Actions:

Issuer: Boston Generating LLC

  -- Outlook, Changed to No Outlook From Negative

                         Ratings Rationale

The downgrade of the 2nd lien debt reflects the lower expected
recovery prospects on the 2nd lien debt.  No agreement had been
reached among the various classes of debt at Boston Gen despite
months of negotiations prior to the bankruptcy filing.  Therefore,
the appropriate assumption about recovery should be that the $1.1B
purchase price would be applied first to the 1st lien debt;
therefore, the recovery prospects for the 2nd lien debt would be
substantially reduced.

The affected 2nd lien facility is a $350 million senior secured
term loan C due 2014.  The 1st lien facilities are an approximate
$1.1 billion senior secured term loan B due 2013, a $250 million
senior secured synthetic letter of credit due 2013, and a $70
million senior secured revolving credit facility due 2013.

On Wednesday, August 18, 2010, Boston Gen filed for bankruptcy
under Chapter 11 of the Bankruptcy Code.  Boston Gen is seeking a
sale as expected.  On August 9, 2010, Constellation Energy Group,
Inc. (Constellation; Baa3 senior unsecured; outlook stable) and
Boston Gen announced that they had signed an asset purchase
agreement for about $1.1 billion, whereby Constellation will
acquire Boston Gen.  The agreement is expected to set the minimum
purchase price as part of a court-approved auction in the
bankruptcy proceeding.  Boston Gen says that it expects to
complete the asset sale to Constellation through the bankruptcy
proceedings within the next 120 days.

Subsequent to these rating actions, Moody's will withdraw all of
Boston Gen's ratings because the issuer has entered bankruptcy.


CARD ACTIVATION: Reports $29,800 Net Income for Q3 Ended June 30
----------------------------------------------------------------
Card Activation Technologies, Inc., filed its quarterly report on
Form 10-Q, reporting net income of $29,791 on $437,500 of revenue
for the three months ended June 30, 2010, compared with net income
of $51,689 on $108,000 of revenue for the three months ended
June 30, 2009.  The increase in revenues was due to two
settlements of patent litigation for the three months ended
June 30, 2010, compared to three settlements of smaller amounts
during the three months ended June 30, 2009.

The Company's balance sheet as of June 30, 2010, showed
$1.5 million in total assets, $516,741 in total liabilities, and
stockholders' equity of $959,611.

As reported in the Troubled Company Reporter on January 22, 2010,
Tarvaran Askelson & Company, LLP, in Laguna Niguel, Calif.,
expressed substantial doubt about Card Activation's ability to
continue as a going concern, following the Company's consolidated
financial statements as of and for the fiscal years ended
September 30, 2009, and 2008.  The independent public accounting
firm pointed to the Company's significant losses.

In its latest 10-Q, the Company discloses it has inadequate
working capital to maintain or develop its operations and is
dependent upon funds from private investors and the support of
certain stockholders.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?69d2

Card Activation Technologies Inc. owns and commercially develops
its patented point-of-sale technology for the activation and
processing of transactions related to debit styled cards, which
include gift cards, phone cards and other stored value cards.


CARIBBEAN PETROLEUM: Organizational Meeting for Aug. 26
-------------------------------------------------------
Roberta A. DeAngelis, Acting United States Trustee for Region 3,
will hold an organizational meeting on August 26, 2010, at
10:00 a.m. in the bankruptcy case of Caribbean Petroleum Corp., et
al.  The meeting will be held at J. Caleb Boggs Federal Building,
844 King Street, Room 5209, Wilmington, DE 19801.

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' cases.

The organizational meeting is not the meeting of creditors
pursuant to Section 341 of the Bankruptcy Code.  A representative
of the Debtor, however, may attend the Organizational Meeting, and
provide background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States
Trustee appoint a committee of unsecured creditors as soon as
practicable.  The Committee ordinarily consists of the persons,
willing to serve, that hold the seven largest unsecured claims
against the debtor of the kinds represented on the committee.
Section 1103 of the Bankruptcy Code provides that the Committee
may consult with the debtor, investigate the debtor and its
business operations and participate in the formulation of a plan
of reorganization.  The Committee may also perform other services
as are in the interests of the unsecured creditors whom it
represents.

                      About Caribbean Petroleum

San Juan, Puerto Rico-based Caribbean Petroleum Corporation, aka
CAPECO, owns and operates certain facilities in Bayomon, Puerto
Rico for the import, offloading, storage and distribution of
petroleum products.

Caribbean Petroleum filed for Chapter 11 protection (Bankr. D.
Del. Case No. 10-12553) on August 12, 2010, nearly 10 months after
a massive explosion at its major Puerto Rican fuel storage depot
virtually shut down the company's operations.  The Debtor
estimated its assets at US$100 million to US$500 million and its
debts at US$500 million to US$1 billion as of the Petition Date.

Affiliates Caribbean Petroleum Refining, L.P., and Gulf Petroleum
Refining (Puerto Rico) Corporation filed separate Chapter 11
petitions on August 12, 2010.

Jason M. Madron, Esq., at Richards, Layton & Finger, P.A., serves
as counsel to the Debtors.  The Debtors' co-counsel is Cadwalader,
Wickersham & Taft LLP.  The Debtors' financial advisor is FTI
Consulting Inc.  The Debtors' chief restructuring officer is Kevin
Lavin of FTI Consulting Inc.


CARIBE MEDIA: S&P Downgrades Rating to 'CCC-'; Gives Neg. Outlook
-----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its ratings on San
Juan, Puerto Rico-based Caribe Media Inc to 'CCC-' from 'CCC+'.
The outlook is negative.

At the same time, S&P lowered the issue-level rating on Caribe's
senior secured credit facilities to 'CCC-' (at the same level as
the 'CCC-' corporate credit rating on the company) from 'CCC+'.
The recovery rating on these loans remains a '3', indicating S&P's
expectation of meaningful (50-70%) recovery for lenders in the
event of a payment default.

The rating downgrade reflects S&P's belief that the consolidated
group of Local Insight Media (LIM) companies will be challenged to
service its current capital structure, given its performance
expectations, as well as covenant tightness and other liquidity
pressures at various operating subsidiaries.  S&P believes that
credit measures of the consolidated group will continue to
deteriorate over the near term at an accelerated pace, resulting
in S&P's expectation for a deterioration of interest coverage to
just over 1.0x at the end of 2010, and 1.0x in 2011.

In addition, S&P expects near-term covenant violations at both
Caribe and affiliate Local Insight Regatta Holdings Inc., and S&P
believes that LIM's ability to fund interest on a loan at an
affiliate of Caribe and LIRH will be impaired going forward.  In
addition to relying on distributions from Caribe and LIRH,
residual funds from certain other operating subsidiaries have been
used to fund interest on this affiliate loan.  A leverage ratio
was recently breached under the terms of a whole business
securitization of these subsidiaries, which has triggered a
partial amortization event of the securitization financing.  Among
other things, this breach precludes residual funds from leaving
the securitization structure.  Given these circumstances and the
uncertainty around lenders willingness to provide covenant relief
to the extent that distributions would be feasible, it is unclear
how this affiliated loan will be serviced, which could result in a
near-term liquidity event for the consolidated company.  S&P
therefore expects LIM will need to consider alternatives regarding
its capital structure, which may include a restructuring or
bankruptcy filing.

The ratings on Caribe are based on the consolidated credit quality
of the LIM family of companies.  Caribe is indirectly owned by
Local Insight Media Holdings Inc., that also indirectly owns
entities that participate in the whole business securitization,
consisting of ACS Media (the incumbent yellow page publisher in
Alaska), CBD Media (the incumbent yellow page publisher in
Cincinnati), and HYP Media (the incumbent yellow page publisher in
Hawaii).  Holdings is owned in part by certain funds of Welsh,
Carson, Anderson & Stowe; Spectrum Equity Investors; and certain
members of management.  Holdings is also the indirect parent of
LIRH.  Given the strategic relationships between, and common
management and ownership of the various operating entities, S&P
views the rating of each individual entity based on a global view
of the creditworthiness of all other entities.  S&P expects
decisions in support of the owners' operating and financial
strategies will be made with a view toward the collective group of
companies.


CASTLE KEY: A.M. Best Affirms 'bb-' Issuer Credit Rating
--------------------------------------------------------
A.M. Best Co. has affirmed the financial strength rating of B-
(Fair) and issuer credit ratings of "bb-" of Castle Key Group
(Castle Key) and its members (headquartered in St. Petersburg,
FL).  The outlook for all ratings is negative.

The ratings and outlook reflect Castle Key's continued
unprofitable operating performance and weak risk-adjusted
capitalization, particularly as measured by A.M. Best on a
catastrophe stress tested basis.  As Castle Key is the dedicated
Florida property writer for its parent company, Allstate Insurance
Company (Allstate), Castle Key continues to maintain significant
exposure to hurricanes, with a corresponding substantial reliance
on catastrophe reinsurance.  In addition, the group's reinsurance
program relies heavily upon the Florida Hurricane Catastrophe Fund
(FHCF), including the purchase of Temporary Increase in Coverage
Limits (TICL).  As previously indicated, A.M. Best remains
concerned regarding the ability of the FHCF to fund all
obligations in the event of a severe hurricane, based largely on
its contingent capital structure.  Accordingly, the structure of
Castle Key's catastrophe reinsurance program negatively impacts
A.M. Best's view of its risk-adjusted capitalization.

Partially offsetting these negative rating factors is the
enhancement provided by Allstate in terms of historical financial
support, although Castle Key is separately capitalized and not
reinsured by Allstate, as well as operational and risk management
initiatives.  A.M. Best expects that parental support regarding
the claims paying ability of Castle Key commensurate with its
rating level will be maintained in the event of frequent and/or
severe hurricane activity.

The FSR of B- (Fair) and ICRs of "bb-" have been affirmed for
Castle Key Group and its following members:

   -- Castle Key Insurance Company
   -- Castle Key Indemnity Company
   -- Encompass Floridian Insurance Company
   -- Encompass Floridian Indemnity Company


CENTAUR LLC: Fortune Valley Asset Draws No Competing Bids
---------------------------------------------------------
Centaur Colorado, LLC, disclosed that no competing bids for its
assets were submitted by the deadline, netDockets reports.

Accordingly, the auction scheduled for August 23 is cancelled.
Pursuant to the contract, without higher and better bids for the
assets, Centaur Colorado will seek approval to sell its assets to
the stalking horse bidder, Luna Gaming Central City LLC, at a
bankruptcy court hearing on August 25, the report says.

According to netDockets, Centaur Colorado's assets are comprised
of the Fortune Valley Hotel & Casino, which is located 40 miles
outside of Denver.  The report relates that the property includes
37,000 square feet of casino gaming space with 750 slot, video
poker and video keno machines and table games including craps,
roulette, blackjack and poker.

                       About Centaur LLC

Centaur LLC and its affiliates own and operate Hoosier Park, a
"racino", which opened in June 2008, in Anderson, Indiana, near
Indianapolis, and Fortune Valley Hotel and Casino, located
approximately 35 miles from Denver, Colorado.  The Company also
owns Valley View Downs, a development project in Pennsylvania.

Centaur LLC and its affiliates, including Centaur Colorado LLC
filed for Chapter 11 bankruptcy protection on March 6, 2010
(Bankr. D. Del. Case No. 10-10799).  Centaur LLC disclosed assets
of $584 million and debt of $681 million as of the Petition Date.
Centaur Colorado, LLC, estimated assets and debts of $500 million
to $1 billion in its Chapter 11 petition (Bankr. D. Del. Case No.
10-10800).

Jeffrey M. Schlerf, Esq., at Fox Rothschild LLP, serves as counsel
to the Debtors.  AlixPartners is claims and notice agent.

Affiliates Centaur PA Land LP and Valley View Downs LP filed for
bankruptcy reorganization in October 2009 to keep alive a project
to develop a racetrack in Pennsylvania.  The filings were made
following the failure to make payments due in October on a
$382.5 million first-lien debt and a $192 million second-lien
credit.

All the companies are subsidiaries of closely held Centaur Inc.,
which isn't in bankruptcy.


CHINA DU: Posts $135,200 Net Loss in Q2 Ended June 30
-----------------------------------------------------
China Du Kang Co., Ltd., filed its quarterly report on Form 10-Q,
reporting a net loss (attributable to China Du Kang) of $135,185
on $440,975 of revenue for the three months ended June 30, 2010,
compared with a net loss (attributable to China Du Kang) of
$141,496 on $373,958 revenue for the same period in 2009.

The Company had an accumulated deficit of $17.2 million and a
working capital deficiency of $12.3 million at June 30, 2010.

The Company's balance sheet as of June 30, 2010, showed
$11.7 million in total assets, $18.6 million in total liabilities,
and stockholders' deficit of $6.9 million.

Keith Z. Zhen, CPA, in Brooklyn, N.Y., expressed substantial doubt
about the Company's ability to continue as a going concern,
following its 2009 results.  The independent auditor noted that
the Company has incurred operating losses in 2009 and 2008 and has
a working capital deficiency and shareholders' deficiency as of
December 31, 2009.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?69d6

Headquartered in Shaanxi, PRC, China Du Kang Co., Ltd. (OTC: CDKG)
was incorporated as U.S. Power Systems, Inc. in the State of
Nevada on January 16, 1987.  The Company manufactures, sells,
licenses and distributes a proprietary line of white wines that
are generally known in China under the heading Du Kang.  Du Kang
is a generic description, like "vodka" or "merlot" and is one of
the most famous Chinese white wine brands.


CHINA IVY: Reports Net Income of $78,050 for Q2 Ended June 30
-------------------------------------------------------------
China Ivy School, Inc., filed its quarterly report on Form 10-Q,
reporting net income of $78,050 on $1.5 million of revenue for the
three months ended June 30, 2010, compared with net income of
$96,175 on $1.4 million of revenue for the same period of 2009.

As of June 30, 2010, and December 31, 2009, the Company had cash
of $214,215 and $46,187, respectively, and a working capital
deficit of $11.7 million and $11.0 million, respectively.  The
Company also had an accumulated deficit of $5.4 million as of
June 30, 2010.

The Company's balance sheet as of June 30, 2010, showed
$14.9 million in total assets, $13.1 million in total liabilities,
and stockholders' equity of $1.8 million.

Michael T. Studer CPA P.C., in Freeport, N.Y., expressed
substantial doubt about the Company's ability to continue as a
going concern after auditing the Company's financial statements
for the years 2008 and 2009.  The independent auditors noted that
as of Dec, 31, 2009, and 2008, the Company had cash of $46,187 and
$58,984, respectively, and working capital deficits of
$11.0 million and $13.3 million, respectively.  In addition, the
Company had an accumulated deficit of $5.1 million and
$4.3 million as of Dec. 31, 2009, and 2008, respectively.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?69cb

Based in Jiangsu Province, P.R. China, China Ivy School, Inc. was
incorporated in the State of Nevada.  The Company operates an
educational facility under the name "Blue Tassel School" which
provides a comprehensive curriculum required by the government of
the People's Republic of China, supplemented by a broad range of
elective courses which may be chosen from by the school's
students.  To the present date, the Company has only operated
within the People's Republic of China.


CHRYSLER FINANCIAL: DBRS Upgrades Issuer Rating to 'CCC' From 'C'
-----------------------------------------------------------------
DBRS has upgraded the ratings of Chrysler Financial Services
Americas LLC, including the Issuer Rating to CCC from "C ".
Further, DBRS has upgraded the ratings of the Second Lien Credit
Facility to "B " from "C " and has withdrawn the ratings on the
First Lien Credit Facility, which has been repaid in full.
Concurrently, DBRS has removed all ratings from Under Review with
Negative Implications, where they were placed on April 30, 2009.
The trend on all ratings is Stable.

DBRS's ratings of Chrysler Financial reflect the improving
financial profile, namely the improved capitalization,
significantly reduced debt levels and the sound credit risk and
servicing capabilities of the Company.  The ratings however, are
constrained by the still limited funding profile and uncertainties
regarding the Company's evolving business plan and its future
prospects as it endeavors to grow new lending in the sub and near-
prime auto space and to a lesser extent, into mid-market
commercial lending.

The ratings consider Chrysler Financial's weakened franchise.  As
such, DBRS sees re-establishing a solid franchise a key task and
significant challenge.  Since the April 2009 bankruptcy filing of
Chrysler LLC (Chrysler Auto), and the rejection of the OEM
(original equipment manufacturer) contract, the Company's ability
to originate new loans has been reduced as Chrysler Financial no
longer has an OEM partner to provide a steady source of loan
volume.  Given the lack of volume, management, instead, prudently
focused on maximizing the value of the legacy loan book while
operating the Company as a going concern.  Indeed, since April
2009, the balance sheet has been reduced, a sizeable amount of
debt repaid, and, in 2009, the Company returned to profitability.
DBRS views the aforementioned achievements, in the current
difficult environment as demonstration of the solid crisis
management and the acumen of management.

Going forward, Chrysler Financial needs to reestablish its
franchise so that it can protect the longer-term prospects of the
entity.  To this end, the Company intends to transform its
business model from a captive auto finance company to a market
based lending model primarily focused on lending to sub and near-
prime borrowers of both the new and used vehicles.  While DBRS
sees the positive merits of the plan, it is not without risks.
The business model is not yet proven, the company will face
increased exposure to borrowers with higher risk profiles and the
auto financing market is quite competitive.  Moreover, the Company
has yet to develop a following of dealers to provide a steady flow
of new business.  Success in mitigating these risks and a proven
ability to achieve the proper balance between risk and return can
lead to positive ratings momentum.

Profitability has improved.  Chrysler Financial's results over the
past four quarters have benefited from the robust recovery in the
used vehicle markets.  Earnings have also benefited from good cost
control and lower provisioning levels as credit performance
improved.  Nonetheless, the Company's earnings power has been
reduced by the lack of originations.  Revenues continue to decline
as the legacy portfolio runs-off.  As such, DBRS sees generating
adequate revenue to support the infrastructure required to sustain
the balance sheet and the core operations as a critical near-term
challenge.  DBRS will look to the Company's ability to achieve
appropriate risk based pricing.

DBRS views the solid credit performance of the loan book as
reflecting sound risk management and servicing capabilities.
However, the strong used vehicle market certainly has played a
part.  During 2Q10, credit performance in the U.S. serviced retail
loan and net lease portfolios continued to evidence favorable
credit trends.  DBRS expects solid asset quality measures in the
legacy books well into 2011, given the portfolio seasoning.  Going
forward, however, as the Company builds a book of non-prime
automotive loans, DBRS anticipates that credit metrics will
migrate higher reflecting the shifting composition in the loan
book to the more risky borrower profile.  Nevertheless, given
Chrysler Financial's risk management acumen and history of
underwriting loans to this market sub-segment, DBRS expects credit
risk will be properly managed.

Funding remains limited and the Company continues to be reliant on
secured sources of financing.  DBRS sees the shifting of the
funding model as a longer-term evolution.  The Company has made
dramatic strides in reducing overall debt levels since year-end
2008, paying down ABS and corporate debt.  Capital has improved
significantly as the ongoing deleveraging of the balance sheet
continues to generate significant levels of capital.  DBRS
recognizes the quite sizable earnings retention, reflecting the
prudent actions of management.  Consistent with DBRS's methodology
for rating secured instruments, DBRS rates the Second Lien Credit
Facility three notches above the Issuer Rating.  The notching
reflects DBRS's view that recovery, in the case of default, will
be greater than 90%.  The high-recovery postulation considers the
overall quality of the assets and the values of the assets.
Indeed, at June 30, 2010, coverage was sound on the Second Lien
Facility at 3.7x.  Moreover, coverage has improved since quarter-
end given the $600 million debt repayment on the Second Lien
Facility post quarter-end.

The Stable trend reflects DBRS's expectations that the Company
will continue to face headwinds as it restores and redefines its
franchise.  Moreover, while DBRS sees the Company as having the
pedigree to manage its new lending ventures, only proven execution
over time will confirm this view.  Positive rating momentum could
result should Chrysler Financial have success in strengthening the
franchise, improving earnings generation, and further diversify
funding, while maintaining asset quality metrics within
expectations.


COLONIAL PROPERTIES: Fitch Affirms 'BB+' Issuer Default Rating
--------------------------------------------------------------
Fitch Ratings has affirmed the credit ratings of Colonial
Properties Trust and its operating partnership, Colonial Realty
Limited Partnership:

Colonial Properties Trust

  -- Issuer Default Rating at 'BB+'.

Colonial Realty Limited Partnership

  -- IDR at 'BB+';
  -- $675 million unsecured revolving credit facility at 'BB+';
  -- $707.4 million senior unsecured notes at 'BB+';
  -- $100 million preferred operating partnership units at 'BB-'.

The Rating Outlook is Stable.

The affirmation of Colonial's IDR at 'BB+' reflects the company's
credit strengths, including its manageable debt maturity schedule
and more focused business model that mostly involves multifamily
property ownership and features limited development risk.  These
strengths are offset by Colonial's leverage measured on a net debt
to recurring operating EBITDA basis, which is more consistent with
a 'BB+' rating.  In addition, operating conditions in the
multifamily sector remain challenging across the Sunbelt region in
which Colonial is focused, though fundamentals are improving.  The
Stable Outlook reflects Colonial's strong liquidity, access to
capital, and unencumbered asset coverage of unsecured debt.

Colonial's liquidity position is strong.  Sources of liquidity
(unrestricted cash, availability under the company's unsecured
revolving credit facility, expected retained cash flows from
operating activities after dividends and distributions) divided by
uses of liquidity (pro rata debt maturities, expected recurring
capital expenditures) for July 1, 2010 to Dec. 31, 2011 result in
a liquidity coverage ratio of 3.2 times.  Furthermore, the
company's debt maturity schedule is well laddered with no more
than 20% of debt maturing annually for the next five years.

Colonial's business platform continues to become more simplified,
thereby lessening certain risks for bondholders such as
development risk and joint venture capital contribution risk.
Undeveloped land and construction-in-progress represented 8.7% of
total assets as of June 30, 2010, compared with 7.5% and 9.8% as
of Dec. 31, 2009 and Dec. 31, 2008, respectively, and down from a
peak of 16.5% as of Dec. 31, 2007.  Joint venture exposure has
also declined, with Colonial's equity investment in joint ventures
plus pro rata share of debt equal to $242.3 million as of June 30,
2010, down from $256.5 million and $522.5 million as of Dec. 31,
2009 and Dec. 31, 2008, respectively.  The joint venture platform
currently consists of interests in 42 properties, and modest joint
venture funding risk remains.  For example, in June 2010, Colonial
Realty Limited Partnership and its joint venture partner in the
Parkway Place Limited Partnership retail joint venture each
contributed $5.4 million of cash to fund their pro rata share of a
debt shortfall that was created via the refinancing.

Colonial's leverage is consistent with a 'BB+' rating, as the
company's net debt to recurring operating EBITDA (including
Fitch's estimate of recurring cash distributions from partially-
owned entities) was 9.3x as of June 30, 2010, down from 9.5x and
9.7x as of Dec. 31, 2009 and Dec. 31, 2008, respectively.  Modest
improvements in leverage stem partially from the company's at-the-
market equity offering programs that have been used in part to
repurchase unsecured debt.  Fitch projects that leverage will
remain in a range between 9.0x and 9.5x over the next 12-24 months
absent de-leveraging transactions, but that leverage will improve
modestly within that range as operating fundamentals improve and
thereby bolster EBITDA.  Colonial's risk-adjusted capitalization
is also appropriate for the 'BB+' rating.

The economic recovery remains fragile, with the high unemployment
rate continuing to adversely impact pricing on multifamily
community leases.  Colonial's portfolio is focused in the Sunbelt
region, with the top five markets being Charlotte, NC (13.7% of
same-property NOI as of June 30, 2010), Dallas-Fort Worth (13%),
Atlanta (12.3%), Orlando (7.7%), and Raleigh, NC (6.7%).  As a
result of this geographical focus, there has been a strong
correlation between the magnitude of changes in same-property net
operating income across the portfolio.  Weighted average year-
over-year same-store net operating income declined by 5.7% and
5.3% from the second quarter of 2009 (2Q'09) to 2Q'10 in
Colonial's top five markets, and across the entire multifamily
portfolio, respectively.

However, there are signs of improvement, with total multifamily
portfolio occupancy increasing to 96.4% as of June 30, 2010, from
94.7% and 94.1% as of Dec. 31, 2009 and Dec. 31, 2008,
respectively.  Fitch anticipates that even though the unemployment
rate will likely remain at elevated levels over the near term,
same-store net operating income in the multifamily portfolio will
likely recover modestly in 2011 due to increases in occupancy.

The portfolio benefits from property type diversification, as
77.7% of total real estate assets are multifamily properties and
the remaining 22.3% of properties are retail and office
properties.  While rental rates in the multifamily portfolio
declined 6.7% from 2Q'09 to 2Q'10, year-over-year changes in
rental rates in the office and retail portfolios were -0.8% and
1.7%, respectively, in 2Q'10.

The company's fixed charge coverage ratio (defined as recurring
operating EBITDA including Fitch's estimate of recurring cash
distributions from partially-owned entities less recurring capital
expenditures less straight line rent adjustments, divided by
interest expense, capitalized interest and preferred dividends)
was 1.4x for the trailing 12 months ended June 30, 2010, unchanged
from full-year 2009 and full-year 2008.  Pro forma for the
redemption of $100.1 million of series D preferred stock, fixed
charge coverage would be 1.6x.  Fitch projects that full-year
same-store net operating income declines will be followed by
modest growth in 2011 and 2012, resulting in fixed charge coverage
of 1.5x to 1.6x absent de-leveraging transactions.  In a more
adverse case than anticipated by Fitch, fixed charge coverage
would be below 1.3x.

The Stable Outlook reflects Colonial's large unencumbered property
pool, which gives the company financial flexibility.  The company
has accessed financing through the government-sponsored
enterprises because of its unencumbered portfolio.  In addition,
unencumbered asset coverage of unsecured debt (calculated as 2Q'10
annualized unencumbered property net operating income divided by a
range of capitalization rates reflective of the portfolio)
centered around 1.9x as of June 30, 2010, which is strong for a
'BB+' rating.  Moreover, covenants within the company's unsecured
revolving line of credit agreement and bond indenture do not
currently restrict Colonial's financial flexibility.

The two-notch differential between Colonial's IDR and the rating
of Colonial Realty Limited Partnership's preferred units is
consistent with Fitch's criteria for corporate entities with a
'BB+' IDR.  Based on Fitch's report, 'Equity Credit for Hybrids
and Other Capital Securities' (dated Dec. 29, 2009 and available
on at 'www.fitchratings.com'), Colonial Realty Limited
Partnership's preferred units are 75% equity-like and 25% debt-
like since they are perpetual and have no covenants but have a
cumulative deferral option in a going concern.  Net debt plus 25%
of preferred stock to recurring operating EBITDA (including cash
distributions from partially-owned entities) was 9.6x as of
June 30, 2010, compared with 9.8x and 10.0x as of Dec. 31, 2009
and Dec. 31, 2008, respectively.  Pro forma for the Aug. 9, 2010
redemption of all of the company's $100.1 million series D
preferred stock, net debt plus 25% of preferred stock to recurring
operating EBITDA would be 9.5x as of June 30, 2010.

These factors may have a positive impact on the ratings:

  -- If the company's fixed-charge coverage ratio sustains above
     2.0x (for the 12 months ended June 30, 2010, fixed-charge
     coverage was 1.4x);

  -- If the company's leverage ratio sustains below 8.5x (as of
     June 30, 2010, the company's leverage, defined as net debt to
     recurring operating EBITDA, was 9.3x);

  -- If the company maintains a sizeable unencumbered portfolio.

These factors may have a positive impact on the Rating Outlook:

  -- If the company's fixed-charge coverage ratio sustains above
     1.5x;

  -- If the company's leverage ratio sustains below 9.0x;

  -- If the company's portfolio becomes more geographically
     diversified.

These factors may have a negative impact on the ratings and/or
Rating Outlook:

  -- If the company's fixed-charge coverage ratio sustains below
     1.3x;

  -- If the company's leverage ratio sustains above 10.0x;

  -- If the company has a liquidity shortfall.

Colonial is a multifamily-focused self-administered and self-
managed equity REIT, which is engaged in the acquisition,
development, ownership, management and leasing of multifamily
apartment communities and other commercial real estate properties.
As of June 30, 2010, the company had $3.8 billion in undepreciated
book assets, a total market capitalization of $3 billion, and an
equity market capitalization of $1.1 billion.  As of June 30,
2010, Colonial fully or partially owned a portfolio of 155
properties, consisting of multifamily and commercial properties
located in Alabama, Arizona, Florida, Georgia, Nevada, North
Carolina, South Carolina, Tennessee, Texas and Virginia.


COMCAM INTERNATIONAL: Reports $775,700 Net Loss for 2nd Quarter
---------------------------------------------------------------
ComCam International, Inc. filed its quarterly report on Form
10-Q, reporting a net loss of $775,718 on $550,984 of revenue for
the three months ended June 30, 2010, compared with a net loss of
$77,763 on $9,800 of revenue for the same period of 2009.

The increase in net loss is primarily due to an increase in
general and administrative expenses.  The Company expects to
realize net losses to transition to net income in the third
quarter of this year with an increase in sales in that period.

The Company's balance sheet as of June 30, 2010, showed
$1.9 million in total assets, $2.4 million in total liabilities,
and stockholders' deficit of $538,112.

As reported in the Troubled Company Reporter on April 24, 2010,
Pritchett, Siler & Hardy, P.C., in Salt Lake City, expressed
substantial doubt about the Company's ability to continue as a
going concern, following its 2009 results.  The independent
auditors noted of the Company's substantial losses and working
capital deficit.

In its latest 10-Q, the Company discloses that it can provide no
assurance that revenue going forward will provide sufficient cash
flows to sustain its operations through its fiscal year end.
Further, the Company says it has no commitments for financing.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?69b8

                    About ComCam International

West Chester, Pa.-based ComCam International, Inc. is both a
network solutions innovator and a provider of fusion technologies
for security products and modern networks.  The Company's
proprietary digital wireless camera systems and security
integration solutions address complex command-and-control
applications for rapid-deployment military situations, borders,
ports, airports, and detention facilities.


E*TRADE FIN'L: Registers 12.5MM Shares Under 2005 Equity Plan
-------------------------------------------------------------
E*TRADE Financial Corporation filed with the Securities and
Exchange Commission a registration statement on Form S-8 to
register 12,500,000 shares of common stock that will be issuable
under the E*TRADE Financial Corporation 2005 Equity Incentive
Plan.  E*TRADE said the shares will be issued at a maximum
aggregate offering price of $173,250,000.

A full-text copy of the registration statement is available at no
charge at http://ResearchArchives.com/t/s?69be

                     About E*Trade Financial

The E*Trade Financial (NASDAQ: ETFC) family of companies provides
financial services including trading, investing and related
banking products and services to retail investors.  Securities
products and services are offered by E*TRADE Securities LLC
(Member FINRA/SIPC).  Bank products and services are offered by
E*TRADE Bank, a Federal savings bank, Member FDIC, or its
subsidiaries.

The Company's balance sheet at June 30, 2010, showed $44.3 billion
in total assets, $40.2 billion in total liabilities, and
stockholders' equity of $4.1 billion.

                         *     *     *

E*TRADE continues to carry Standard & Poor's Ratings Services'
"CCC+" long-term issuer credit ratings.  In March 2010, S&P raised
its long-term counterparty credit rating on E*TRADE to 'CCC+' from
'CCC'.  At the same time, S&P raised its long-term counterparty
credit rating on its subsidiary, E*TRADE Bank, to 'B' from 'B-'.
The outlook on both is stable.

E*TRADE has a 'B3' long-term issuer rating from Moody's Investors
Service.  In July 2010, when Moody's changed the outlook to
'stable' from 'negative', the ratings agency said, "E*TRADE's
credit profile remains vulnerable to a significantly worse-than-
anticipated level of credit losses at the bank, which has
previously been the primary reason for the negative outlook.
However, Moody's now thinks that the probability of this scenario
is reduced by E*TRADE's improved delinquency trends --
delinquencies have been stable or trending down for the last nine
months -- and the continued seasoning of its portfolio."

Dominion Bond Rating Service rates E*TRADE's Issuer and Senior
Debt at B (high) and E*TRADE Bank's Deposits and Senior Debt at
BB.   All ratings, except the Short-Term Instruments rating of the
Bank, have a Negative trend.

The Company reported net income of $35 million in the June 2010
quarter, its first quarter of profitability since the second
quarter of 2007.  Following net losses of $48 million in the first
quarter 2010 and $143 million in the second quarter 2009, DBRS
views the Company's swing to positive earnings as an important
step from a ratings perspective.  The much improved earnings
performance was largely driven by a decline in loan loss
provisions, which could be somewhat volatile in the near-term due
to uncertain market conditions.  Nonetheless, the long-term trend
indicates that provisions are declining.


EAU TECHNOLOGIES: Gets 1st Orders from Int'l Beverage Firm
----------------------------------------------------------
EAU Technologies Inc. has received its first purchase orders from
an international beverage company.  EAU will install its
environmentally friendly Empowered WaterO CIP Systems at three of
the beverage company's bottling plants.

EAU completed the validation process for use in beverage filling
equipment as a cleaning and sanitation process for CIP
applications that led to this sale.  CIP applications are used in
the food industry to clean stationary equipment during a product
changeover and system start-up.  Results showed Empowered Water
was able to improve current cleaning and sanitizing efficacy,
minimizing the use of commercial chemicals while complying with
microbiological integrity and sensory testing requirements.
Testing also identified water and energy consumption savings as
well as timesaving that can increase bottling production line
availability.

Empowered Water by EAU is created by combining salt and potable
water with an electrical charge.  EAU generators create two
streams of Empowered Water.  Primacide B is an effective cleaning
fluid used as a replacement for caustic surfactants and cleaners.
Primacide C is stabilized, non-toxic, acidic water effective at
killing pathogens during the sanitation process.  The active
ingredient in Primacide C is Hypochlorous acid, one of the same
chemicals a human body creates to fight off sickness.

                      About EAU Technologies

Kennesaw, Ga.-based EAU Technologies, Inc., previously known as
Electric Aquagenics Unlimited, Inc., is in the business of
developing, manufacturing and marketing equipment that uses water
electrolysis to create non-toxic cleaning and disinfecting fluids
as well as dairy drinking water.  These fluids have various
commercial applications and may be used in commercial food
processing and agricultural products that clean, disinfect,
remediate, hydrate and moisturize.

                           *     *     *

HJ & Associates, LLC, in Salt Lake City, expressed substantial
doubt about the Company's ability to continue as a going concern
after auditing the Company's 2009 financial statements.  The
independent auditors noted that the Company has a working capital
deficit as well as a deficit in stockholders equity.


EXTENDED STAY: Panel Withdraws Plea for Authority to Sue on LBO
---------------------------------------------------------------
The Official Committee of Unsecured Creditors for Extended Stay
Inc. has withdrawn a motion for its appointment as estate
representative and for standing to pursue claims against those
involved in the 2007 acquisition of Extended Stay Inc. and its
affiliated debtors.  Among the entities involved in the Company's'
LBO are Blackstone Group LP and Lightstone Group LLC.

                        About Extended Stay

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

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

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


EXTENDED STAY: Weil Gotshal Seeks $3.11MM for March-June
--------------------------------------------------------
Four professionals retained in the Chapter 11 cases of Extended
Stay Inc. and its affiliated debtors filed fee applications,
seeking interim allowance of fees for services rendered and
reimbursement of expenses incurred for these periods:

Professional              Fee Period        Fees      Expenses
------------              ----------     ----------   --------
Covington & Burling LLP   03/01/10 to       $84,313       $765
                           06/30/10

Ernst & Young LLP         03/01/10 to      $303,044       $25l
                           06/30/10

Lazard Freres & Co. LLC   02/01/10 to      $800,000    $49,074
                           05/31/10

Weil Gotshal & Manges LLP 03/01/10 to    $3,114,810    $76,173
                           06/30/10

Two professionals retained by the Official Committee of Unsecured
Creditors also filed their fee applications.  They are:

Professional              Fee Period        Fees      Expenses
------------              ----------     ----------   --------
Jefferies & Company Inc.  03/01/10 to      $700,000    $16,330
                           06/30/10

Jones Lang LaSalle Hotels 03/01/10 to       $53,000     $2,820
                           06/30/10

The Creditors Committee also seeks reimbursement of $5,166, for
the expenses incurred by its member, Ashford Hospitality Trust
Inc.

One professional retained by Ralph Mabey, the Court-appointed
examiner, filed its fee application for the period March 1 to
June 30, 2010:

Professional              Fee Period        Fees      Expenses
------------              ----------     ----------   --------
Alvarez & Marsal Dispute  03/01/10 to      $593,538    $13,958
Analysis & Forensic       06/30/10
Services LLC

Mr. Mabey also seeks interim allowance of fees, totaling $47,992,
and reimbursement of expenses, totaling $1,712, for the period
March 30 to June 30, 2010.

                        About Extended Stay

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

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

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


FLEETWOOD ENTERPRISES: Wins Approval to Divest 44-Acre Land
-----------------------------------------------------------
American Bankruptcy Institute reports that Fleetwood Enterprises
Inc. has won the right to sell roughly 43.59 acres of land for
$1.35 million, days before the Company's chapter 11 plan was
expected to take effect.

Fleetwood Enterprises has sold most of its assets and, early
this month, won approval of a liquidating Chapter 11 plan.

According to Bill Rochelle at Bloomberg News, the Plan provides
for these terms:

    -- Secured creditors will be paid in full;

    -- Holders of the $84.3 million in 14% notes are expected
       to have a 21% recovery from receiving a portion of net
       proceeds from the liquidation after claims with higher
       priorities are paid.

    -- General unsecured creditors, with $115 million to
       $195 million in claims, will recover from 10.3% to 17.4%
       from sharing part of net liquidation proceeds.

    -- Holders of the $162 million in 6% notes would see 1.2%
       from the $2 million cash.

    -- Holders of the $1.1% million in 5% notes will get a
       recovery of 6.8% in dividing $75,000.

                    About Fleetwood Enterprises

Based in Riverside, California, Fleetwood Enterprises, Inc., was
the second largest manufactured housing maker in the U.S. and the
largest manufacturer of recreational vehicles over 30 feet in
length.

Fleetwood Enterprises listed assets of $560 million against debt
totaling $624 million in its bankruptcy petition.  Fleetwood
Enterprises, together with 19 of affiliates, filed for Chapter 11
protection on March 10, 2009 (Bankr. C.D. Calif. Lead Case No.
09-14254).  Craig Millet, Esq., and Solmaz Kraus, Esq., at Gibson,
Dunn & Crutcher LLP, represent the Debtors in their restructuring
efforts.  FTI Consulting Inc. is the financial advisor to the
Debtors.  The Debtors tapped Greenhill & Co. LLC as its investment
banker.


FORD CREDIT: DBRS Assigns 'BB' Final Rating With Stable Trend
-------------------------------------------------------------
DBRS has assigned a final rating of BB with a Stable trend to the
Ford Credit Canada Limited (Ford Credit Canada or the Company)
issue of
$550 million principal amount of 7.50% senior unsecured notes (the
Notes) maturing August 18, 2015.

The Notes are unconditionally guaranteed by Ford Motor Credit
Company LLC (Ford Credit), Ford Credit Canada's parent, and rank
pari passu with all other senior unsecured debt of Ford Credit
Canada.


FPL ENERGY: Moody's Affirms 'Ba2' Rating on Senior Secured Bonds
----------------------------------------------------------------
Moody's has affirmed the Baa3 rating on FPL Energy American Wind's
senior secured bonds ($200.6 million outstanding) and the Ba2
rating on FPL Energy American Wind Funding's senior secured bonds
($54.5 million outstanding).  The outlook for American Wind and
Wind Funding is stable.  The affirmation and maintenance of a
stable rating outlook reflects above average liquidity and
demonstrated financial resilience in very low wind years, however
escalating operations and maintenance costs remain a concern.

American Wind generates revenue principally from PPA revenues
largely with investment grade offtakers and federal production tax
credits while Wind Funding's sole source of cash flow are
distributions from American Wind.  For the most recent three year
period, American Wind averaged approximately 1.5x, a solid Baa-
metric with consolidated coverage around 1.12x.  Most recent
management coverage calculations through May 2010 however
indicates a potential for cash trapping at the OpCo with 1.31x
reported coverage.  Cash can be trapped if OpCo DSCR is 1.3x on a
historical or prospective basis and Moody's full-year calculation
shows high likelihood of a cash trap trigger by year end.  While
Moody's views current coverage as extremely narrow and projected
cash trap trigger as credit negative, Moody's expect coverage to
improve in 2011 as OpCo amortization declines by $4.7 million.
The amortization continues declining through 2014 when PTCs fully
expire, allowing the project to maintain sufficient investment
grade metrics in at least the 1.3-1.5x range, based upon somewhat
conservative wind volume and operating expense assumptions, and
adequate consolidated coverage.

An important consideration for the affirmation and stable rating
outlook is the above average level of liquidity at both OpCo and
HoldCo.  Both legal entities benefit from individual twelve-month,
debt service reserve letters of credit.  Had a more typical six-
month debt service reserve been in place, rating pressure would
exist at both the Opco and Holdco level given the drop-off in wind
volumes recently experienced.  The rating could merit downward
pressure should wind production remained at depressed levels in
the near term.

The affirmation recognizes narrow metrics but also the resilience
of the portfolio given the extremely low wind year and increased
costs.  Assuming average production over the most recent five year
periods and applying current PPA pricing, revenues are expected to
remain sound through the near and medium term.  In light of the
strong performance given extremely low wind conditions, Moody's
remains concerned about the escalating O&M costs and FPL's ability
to reduce them or, at a minimum, contain them at current levels.
The combination of higher than expected O&M and lower wind
production that is well off from initial base case forecasts has
ultimately led to reduced PPA and PTC revenues and are credit
concerns.

FPL Energy American Wind, LLC, is a Delaware limited liability
company formed on April 2003 solely for the purpose of financing a
697MW portfolio of seven wind power generating projects, located
in California, the Midwest, New Mexico and Texas.  Virtually all
of the power generated by the projects is sold pursuant to long-
term fixed-price Power Purchase Agreements with, or guaranteed by,
utilities, municipalities or cooperatives.  Each project is owned
by a separate entity (Project Owner).  Each of the Project Owners
guarantees the repayment of the bonds on a joint and several
basis.

FPL Energy Wind Funding, LLC, is an intermediate holding company
that owns FPL Energy American Wind.  Both FPL Energy American Wind
and FPL Energy Wind Funding are indirect wholly-owned subsidiaries
of NextEra Energy Resources LLC, the largest owner of wind
projects in the U.S. NextEra is wholly-owned by FPL Group Capital
Inc. (Baa1, senior unsecured) and FPL Group Capital is wholly-
owned by NextEra Energy, Inc. (Baa1 Issuer Rating).

The last rating action was on June 23, 2003, when Moody's
initially assigned ratings to FPL Energy American Wind and on
December 8, 2003, when Moody's initially assigned ratings to FPL
Energy Wind Funding.


FPL ENERGY NAT'L: Moody's Affirms Ba2 Rating on Sr. Secured Bonds
-----------------------------------------------------------------
Moody's has affirmed the Baa3 rating on FPL Energy National Wind's
senior secured bonds ($258.6 million outstanding) and affirmed the
Ba2 rating on FPL Energy National Wind Portfolio's senior secured
bonds ($62.7 million outstanding).  The rating outlook for
National Wind and Wind Portfolio is stable.  The affirmation and
maintenance of a stable outlook reflects general financial
stability over the past several years and above average liquidity,
however escalating operating and maintenance costs remain a
concern.

National Wind generates revenue principally from PPA revenues
largely with investment grade offtakers and federal production tax
credits of $.021/kWh-generated (accounting for roughly 37% of
total revenues) while the holding company Wind Portfolio's sole
source of cash flow is distributions from National Wind.  For the
most recent three year period through December 31, 2009, National
Wind averaged approximately 1.41x and consolidated coverage was
approximately 1.06x.  While at the low end of Baa-rating category,
single year coverage at National Wind did not deviate
significantly from its average, indicating general financial
stability at National Wind.  Most recent management calculations
through February 2010 indicate a slight drop in coverage to 1.35x
at National Wind.

An important consideration for the affirmation and stable outlook
is the above average level of liquidity despite narrow credit
metrics at the Baa-rating level.  Both entities benefit from
individual twelve-month debt service reserve letters of credit
providing sound cushion given the year-over-year volatility that
can exist among a diversified portfolio such as National Wind.
For example, performance data for Q1 2010 indicates that wind
production was down 27% compared the same period in 2009.  That
said, if poor wind conditions across the portfolio persists and
O&M costs remain at higher than expected levels, downward rating
pressure can surface, especially in 2014 when PTC revenues fully
expire.  Moody's observes that the amortization schedule for
National Wind does not decline as significantly as the reduction
in PTC revenue and metrics could be under significant pressure in
2014 if the wind regime does not improve or if operating and
maintenance costs are not reigned in.

Moody's medium term calculations assumed average wind production
over the most recent four year operating history of the portfolio
and applied current PPA pricing.  Moody's also assumed current
higher levels of O&M would carry through the next several years.
National Wind is also subject to potential cash trap risks with
cash trapping at National Wind if historical or prospective
coverage falls below 1.25x.  In a cash trap situation, Moody's
feel there is sufficient liquidity at HoldCo to withstand such a
volatile wind year.  The rating could merit downward pressure
should wind production remain at depressed levels in the near
term.

FPL Energy National Wind, LLC (Baa3, stable) is a Delaware limited
liability company formed in February 2005 solely for the purpose
of financing a 534MW portfolio of nine wind power generating
projects, located in Pennsylvania, West Virginia, North Dakota,
South Dakota, Wyoming, Oklahoma, and Oregon.  All of the power
generated by the projects is sold pursuant to long-term fixed-
price PPAs with, or guaranteed by, utilities, municipalities or
cooperatives.  Each project is owned by a separate entity (Project
Owner).  Each of the Project Owners guarantees the repayment of
the bonds on a joint and several basis.

FPL Energy National Wind is wholly-owned by FPL Energy National
Wind Portfolio, an intermediate holding company.  Both FPL Energy
National Wind and National Wind Portfolio are indirect wholly-
owned subsidiaries of NextEra Energy Resources LLC, the largest
owner of wind projects in the U.S. NextEra is wholly-owned by FPL
Group Capital Inc. (Baa1, senior unsecured) and FPL Group Capital
is wholly-owned by NextEra Energy, Inc. (Baa1 Issuer Rating).

The last rating action was on February 10, 2005, when Moody's
initially assigned ratings to FPL Energy National Wind and FPL
Energy National Wind Portfolio.


FX REAL ESTATE: Sells $50,000 in Warrants to Sillerman et al.
-------------------------------------------------------------
On August 17, 2010, each of Robert F.X. Sillerman's spouse, Laura
Baudo Sillerman; Paul C. Kanavos and his spouse, Dayssi Olarte de
Kanavos; and TTERB Living Trust purchased from FX Real Estate and
Entertainment Inc., in a private transaction exempt from the
registration requirements of the Securities Act of 1933, as
amended, 50 units at an aggregate purchase price of $50,000 or
$1,000 per unit.  Each unit consists of (x) one share of newly
created and issued Series B Convertible Preferred Stock, $0.01 par
value per share, and  (y) one warrant to purchase up to 12,507.8
shares of Common Stock at an exercise price of $0.2399 per share.
Mr. Sillerman's spouse used personal funds of $50,000, Mr. Kanavos
and his spouse used personal funds of $50,000 and TTERB used
working capital of $50,000 to fund the purchase of their units.

A full-text copy of Sillerman et al's Schedule 13D filing with the
Securities and Exchange Commission is available at no charge at
http://ResearchArchives.com/t/s?69c5

               About FX Real Estate and Entertainment

FX Real Estate and Entertainment Inc. owns 17.72 contiguous acres
of land located at the southeast corner of Las Vegas Boulevard and
Harmon Avenue in Las Vegas, Nevada.  The Las Vegas Property is
currently occupied by a motel and several commercial and retail
tenants with a mix of short and long-term leases.  On June 23,
2009, as a result of the default under the first mortgage loan,
the first lien lenders had a receiver appointed to take control of
the property.  The Company is headquartered in New York City.

The Company's balance sheet as of June 30, 2010, showed
$141.8 million in total assets, $515.1 million in total
liabilities, and stockholders' deficit of $373.3 million.

As reported in the Troubled Company Reporter on April 15, 2010, LL
Bradford, in Las Vegas, expressed substantial doubt about the
Company's ability to continue as a going concern.  The independent
auditors noted that the Company is in default under the mortgage
loan, has limited available cash, has a working capital deficiency
and will need to secure new financing or additional capital in
order to pay its obligations.

The Company discloses in its June 2010 10-Q report that it has no
current cash flow and cash on hand as of August 13, 2010, is not
sufficient to fund its short-term liquidity requirements,
including its ordinary course obligations as they come due.

On April 21, 2010, the Company's remaining Las Vegas subsidiary,
FX Luxury Las Vegas I, LLC, filed for Chapter 11 (Bankr. D. Nev.
Case No. 10-17015).


GENERAL GROWTH: Hughes Heirs Propose W. Winius to Appraisal Panel
-----------------------------------------------------------------
Platt W. Davis III, David G. Elkins and David R. Lummis, as
representatives of the Hughes Heirs under the Contingent Stock
Agreement, ask the U.S. Bankruptcy Court to:

  (i) appoint Walter Winius, Jr. to the appraisal panel under
      the CSA;

(ii) compel General Growth Properties Inc. to produce certain
      documents necessary for the appraisal of the Summerlin
      master planned community and related assets; and

(iii) establish procedures for the appraisal of those assets.

Since the hearing on the Hughes Heirs' Lift Stay Motion, the
parties have not been able to agree upon a third independent
appraiser or procedures to be followed concerning the appraisal,
and the Debtors have continued to delay in providing documents to
the appraiser appointed by the Representatives, Steven T. Hoort,
Esq., at Ropes & Gray LLP, in Boston, Massachusetts, tells the
Court.

Mr. Hoort relates that the Debtors summarily rejected Mr. Winius
as a candidate to the appraisal panel without providing any
reason for the rejection.  Instead, the Debtors have proposed
several names for the third appraiser, none of whom has
comparable appraisal experience with large scale master-planned
communities, particularly in the western United States, Mr. Hoort
complains.  In contrast, Mr. Winius is, one of the country's
leading appraisers of large scale master-planned communities and
a past president of the American Institute of Real Estate
Appraisers, which is responsible for the designation of
appraisers as Member of the Appraisal Institute, Mr. Hoort
asserts.  A full-text copy of Mr. Winius' resume is available for
free at http://bankrupt.com/misc/ggp_WiniusResume.pdf

Specifically, Mr. Hoort has extensive experience in appraising
large scale master-planned communities in the western United
States as required under the CSA, including four recent
appraisals of large scale master-planned communities in Arizona
comprising more than 16,000 acres, and is considered a leading
expert, Mr. Hoort insists.  Mr. Winius also meets the
independence requirement under the CSA because he has no other
connection to or relationship with the Hughes Heirs, the CSA
Representatives, or the Debtors, Mr. Hoort stresses.

Mr. Hoort further contends that the Debtors should be compelled
to provide all the documents necessary for the appraisal,
including but not limited to certain documents, a list of which
is available for free at:

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

Despite The Dore Group having commenced work on an appraisal in
or about January, 2010, and supposedly having been provided with
all relevant information on Summerlin, it was not until the week
of August 9, 2010, that the Debtors admitted that they have a
comprehensive business plan and model for Summerlin, including
detailed projections, sales absorption, revenues, and costs,
which they had not provided to Dore, Mr. Hoort points out.  The
Debtors have also refused to provide Dore with information on
sales activity for Summerlin, he asserts.  The Debtors' refusal
to provide those documents prevents Dore, and the third
appraiser, from analyzing the sales activity of Summerlin, a
highly probative factor in assessing market value of the asset,
he argues.

The Hughes Heirs also propose procedures governing the appraisal
that reflect the procedures under the CSA and seek to establish
fair and equitable procedures for the parties' communications
with the third appraiser.  Among other things, the Appraisal
Procedures allow three party appraisers to provide the third
independent appraiser with data and background information to
assist the third independent appraiser in timely completing the
appraisal.  However, the proposed procedures do not permit either
Party Appraiser to submit their appraisal models or appraisal
reports to the third independent appraiser as submitting those
reports or models to the third independent appraiser would raise
a host of issues, Mr. Hoort explains.  Most importantly, the
third independent appraiser is required under the CSA to perform
his or her own appraisal of the assets.  Thus, the third
independent appraiser must be provided with a full set of
documents required for an appraisal of the assets.

A full-text copy of the proposed Appraisal Procedures is available
for free at http://bankrupt.com/misc/ggp_AppraisalProcs.pdf

In a related request, the Hughes Heirs ask the Court to shorten
the notice period for their request and set the Appraisal Motion
for a hearing on August 26, 2010.  Objections will be due
August 24.

                        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 GROWTH: OZ Management Has 5.66MM Shares of Stock
--------------------------------------------------------
In a Schedule 13F-HR filed with the Securities and Exchange
Commission dated August 16, 2010, Oz Management LLP reported that
it beneficially owns 5,658,783 shares of General Growth
Properties, Inc.'s common stock.  The fair market value of those
shares is $75,035,000.

Oz Management has the sole power to vote on 5,496,348 shares of
GGP common stock and has shared voting power on 162,435 shares of
GGP common stock.

Oz Management has investments in about 273 companies, including
GGP, worth $4,354,977,000 in market value.

                        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)


HUGHES TELEMATICS: Delays Offering of 5.13MM Shares
---------------------------------------------------
HUGHES Telematics, Inc., filed with the Securities and Exchange
Commission Amendment No. 1 to Form S-3 Registration Statement to
delay a planned offering of 5,130,500 shares of the Company's
common stock.  Existing stockholders will be selling their shares
in the Company.

It is anticipated that the selling security holders will sell
these shares of common stock from time to time in one or more
transactions, in negotiated transactions or otherwise, at
prevailing market prices or at prices otherwise negotiated.  The
Company will not receive any proceeds from the sales of shares of
common stock by the selling security holders.  The Company has
agreed to pay all fees and expenses incurred by the Company
incident to the registration of the common stock, including SEC
filing fees.  Each selling security holder will be responsible for
all costs and expenses in connection with the sale of their shares
of common stock, including brokerage commissions or dealer
discounts.

                              Number of Shares Owned
                                 Before        After
   Selling Stockholder         Offering     Offering
   -------------------       ----------     --------
Ascend Partners
   Fund I LP                      4,476        0
Ascend Partners
   Fund I, Ltd.                  29,845        0
Ascend Partners
   Fund II BPO, Ltd.            157,728        0
Ascend Partners
   Fund II LP                   421,396        0
Ascend Partners
   Fund II, Ltd.                964,219        0
Rahul Gandhi                     12,000   10,000
Map 3 Segregated
   Portfolio                    307,359        0
Lars O. Mellemseter              20,000        0
Patrick Lin                       8,500        0
Permal Ascend Equities Ltd.      36,039        0
PGAS PCC Ltd Grey Iota Cell      25,000        0
Prism Partners I L.P.           200,000        0
Prism Partners III
   Leveraged L.P.               666,667        0
Prism Partners IV
   Leveraged Offshore Fund      800,000        0
SEI Investment
   Management Corporation        53,938        0
Starpoint Partners L.P.         679,148  429,148
Valley High Partners, LP      1,100,000        0
Ward Capital LLC                 83,333        0

A full-text copy of the Company's prospectus is available at no
charge at http://ResearchArchives.com/t/s?69c4

                      About HUGHES Telematics

Atlanta, Ga.-based HUGHES Telematics, Inc. is a telematics
services company that provides a suite of real-time voice and data
communications services and applications for use in vehicles and
is developing additional applications for use within and outside
of the automotive industry.

The Company's balance sheet as of June 30, 2010, showed
$115.6 million in total assets, $136.6 million in total
liabilities, and stockholders' deficit of $21.0 million.

As reported in the Troubled Company Reporter on March 19, 2010,
PricewaterhouseCoopers LLP, in Atlanta, Ga., in its report on the
Company's financial statements for the year ended December 31,
2009, expressed substantial doubt about the Company's ability to
continue as a going concern.  The independent auditors noted of
the Company's recurring losses from operations and limited capital
resources.


IMMEDIATEK INC: Posts $231,200 Net Loss in June 30 Quarter
----------------------------------------------------------
Immediatek, Inc., filed its quarterly report on Form 10-Q,
reporting a $231,192 net loss on $682,874 of revenues for the
three months ended June 30, 2010, from a net loss of $182,968 on
$682,897 of revenues for the same period a year ago.

The Company's balance sheet at June 30, 2010, showed $5,659,550 in
total assets, $1,623,701 in total liabilities, and $4,035,849
million in stockholders' equity.

The report of the Company's independent registered public
accounting firm on its financial statements for the year ended
December 31, 2009 included an emphasis paragraph, in addition to
their audit opinion, stating that its recurring losses from
operations and substantial accumulated deficit raise substantial
doubt about its ability to continue as a going concern.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?69d7

                        About Immediatek

Immediatek, Inc., through its wholly owned, operating subsidiary,
DiscLive, Inc. -- http://www.disclive.com/-- records live
content, such as concerts and conferences, and makes the recorded
content available for delivery to attendees within fifteen minutes
after the conclusion of the live event.  The recorded content is
made available for pre-sale and sale at the venue and on
DiscLive's website.  The content is delivered primarily via
compact disc.


INFOLOGIX INC: Hercules Converts $5-Mil. Term Loan to Stock
-----------------------------------------------------------
InfoLogix Inc. received on Aug. 12, 2010, notice from its senior
lender Hercules Technology Growth Capital Inc. that Hercules had
elected to convert $5 million of aggregate principal amount of the
Company's convertible term loan due on November 1, 2014 into
shares of the Company's common stock at the conversion price of
$1.8575 per share.  As a result of the conversion, the Company
issued Hercules 2,691,790 shares of common stock on August 13,
2010.  The common stock issued by the Company in this transaction
was issued in a private transaction exempt from registration under
the Securities Act of 1933, as amended.  This transaction did not
involve the use of underwriters, and no commissions were paid in
connection therewith.

Hercules continues to have the ability to acquire:

    i) 356,492 shares of the Company's common stock upon
       conversion of the remaining $662,182 balance of Term Loan B
       principal,

   ii) 412,087 shares of the Company's common stock upon
       conversion of principal of a term loan due on April 1, 2013
       and

  iii) an indeterminate number of shares upon conversion of a
       portion of the interest on the Company's indebtedness to
       Hercules.

As a result of the Term Loan B conversion, on Aug. 13, 2010, the
Company's outstanding principal balance on Term Loan B, which
includes accrued interest previously added to principal, was
$662,182.

In connection with the conditions set by Nasdaq regarding the
Company's continued listing on The Nasdaq Capital Market, the
Company has prepared a pro forma calculation of consolidated
stockholders' equity as if the conversion had taken place on June
30, 2010 to demonstrate the impact of the conversion of $5 million
of outstanding debt under Term Loan B into shares of common stock
of the Company on the Company's consolidated stockholders' equity
as of that date.  Based on that calculation, stockholders'
deficit, which was $2.9 million as of June 30, 2010, would have
been, on a pro forma basis, consolidated stockholders' equity of
approximately $1.3 million, as adjusted for the impact of the
conversion.

The pro forma calculation of the Company's consolidated
stockholders' equity was prepared to demonstrate the impact of the
Term Loan B conversion only; the estimated calculation should not
be considered in isolation or as a substitute for consolidated
stockholders' deficit as reflected in the condensed consolidated
financial statements and notes thereto in Item 1 of the Company's
Quarterly Report on Form 10-Q for the quarterly period ended June
30, 2010.

                      About InfoLogix Inc.

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

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

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


INNERGEX RENEWABLE: S&P Assigns 'BB' Rating on Preferred Shares
---------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'BBB-'
long-term corporate credit rating to Longueuil, Que.-based
Innergex Renewable Power Inc. The outlook is stable.

At the same time, Standard & Poor's assigned its 'BB' global scale
and 'P-3' Canada scale issue-level ratings on the company's
C$85 million cumulative five-year rate reset preferred shares,
series A.

"The ratings on Innergex reflect S&P's view of the company's
diversified portfolio of power generation assets that long-term
power purchase agreements with strong-to-excellent credit quality
counterparties underpin," said Standard & Poor's credit analyst
Bato Kacarevic.  "S&P believes hydrology and wind flow risk,
construction risk, and highly-leveraged projects counterbalance
these strengths," Mr. Kacarevic added.

The rating on the preferred shares reflects S&P's methodology on
hybrid instruments and the credit rating of Innergex.  The
dividend on the preferred shares will be reset every five years
and initially be approximately 5.25% per year, payable quarterly.
In addition, S&P will provide 50% equity treatment to the shares
because they have no fixed maturity date, they are subordinate to
the senior debt, and dividends can be deferred.  The company will
use the proceeds to reduce bank debt and fund project
construction.

Innergex has interests in 17 electricity generating facilities (14
run-of-river and three wind farms) with a total net installed
capacity of 325 megawatts.  The facilities benefit primarily from
long-term contracts with government-owned utilities in Quebec
(A+/Stable/A-1+), Ontario (AA-/Stable/A-1+), and British Columbia
(B.C.; AAA/Stable/A-1+).  Based on average annual power
production, run-of-river assets represent 73% of the operating
asset portfolio.  The facilities are 100% contracted and have no
merchant exposure or dispatch risk.  S&P expects renewable power
generation to remain the cornerstone of the company's asset mix, a
favorable strategy, in S&P's view.  At June 30, 2010, total debt
outstanding was C$479.5 million (including convertible debentures
as debt).

The stable outlook reflects S&P's expectation that Innergex's
portfolio of power generation facilities will continue to operate
under long-term contracts with strong off-takers and generate
fairly predictable power.  Any positive rating action would come
from a materially stronger balance sheet.  Conversely, a downgrade
is possible if the financial structure becomes more aggressive,
including substantially more debt at the holding company level and
funds from operations interest coverage of below 3x, or if the
company experiences a meaningful setback in project construction.


INNKEEPERS USA: Bryan Cave Represents Multiple Lenders
------------------------------------------------------
Lawrence P. Gottesman, Esq., at Bryan Cave LLP, in New York --
lawrence.gottesman@bryancave.com -- pursuant to Rule 2019 of the
Federal Rules of Bankruptcy Procedure, discloses that his firm has
been engaged as counsel to multiple lenders in connection with the
Debtors' cases.

The Lenders are:

                                                     Principal
  Lender        Borrower           Property               Amount
  ------        --------           --------               ------
Wells Fargo    Grand Prix RIMV    Residence Inn     $47,400,000
Bank, N.A.     Lessee, LLC        San Diego, CA

Wells Fargo    Grand Prix RIGG    Residence Inn      37,600,000
Bank, N.A.     Lessee, LLC        Garden Grove, CA

U.S. Bank,     KPA Washington     Doubletree Guest   25,600,000
N.A.           DC, LLC            Suites
                                  Washington, D.C.

U.S. Bank      KPA Tysons         Residence Inn      25,200,000
N.A.           Corner RI, LLC     Vienna, VA
                                  (Tysons)

U.S. Bank      KPA San Antonio,   Homewood Suites    24,200,000
N.A.           LLC                San Antonio

Wells Fargo is the Trustee for the registered holders of Credit
Suisse First Boston Mortgage Securities Corp., Commercial Mortgage
Pass-Through Certificates, Series 2007-C1.  U.S. Bank is the
Trustee for the registered holders of ML-CFC Commercial Mortgage
Trust 2006-4, Commercial Mortgage Pass-Through Certificates,
Series 2006-4.

The claims held by each of the Lenders are related to and in the
nature of mortgage loans encumbering properties owned by certain
of the Debtors.  Each loan is secured by a direct mortgage on the
subject property and a security interest in the proceeds, rents
and payment streams generated by the subject property.

Mr. Gottesman assures the Court that Bryan Cave does not hold any
claims against or interest in any of the Debtors.

                   About Innkeepers USA Trust

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

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

Apollo Investment Corporation acquired Innkeepers in June 2007.

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

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

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

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


INNKEEPERS USA: Committee Proposes Morrison & Foerster as Counsel
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors in Innkeepers USA
Trust's bankruptcy cases seeks the Court's permission to retain
Morrison & Foerster LLP as general bankruptcy counsel, nunc pro
tunc to July 28, 2010.

As counsel, Morrison & Foerster has agreed to:

  (a) assist and advise the Creditors' Committee in its
      consultation with the Debtors relative to the
      administration of the cases;

  (b) attend meetings and negotiate with the representatives of
      the Debtors;

  (c) assist and advise the Creditors' Committee in its
      examination and analysis of the conduct of the Debtors'
      affairs;

  (d) assist the Creditors' Committee in the review, analysis
      and negotiation of any plans of reorganization that may be
      filed, and to assist the Creditors' Committee in the
      review, analysis and negotiation of the disclosure
      statement accompanying any plan;

  (e) take all necessary action to protect and preserve the
      interests of the Creditors' Committee and general
      unsecured creditors;

  (f) generally prepare on behalf of the Creditors' Committee
      all necessary motions, applications, answers, orders,
      reports and papers in support of positions taken by the
      Creditors' Committee;

  (g) appear, as appropriate, before the Court, the Appellate
      Courts, and the United States Trustee, and protect the
      interests of the Creditors' Committee before those courts
      and before the United States Trustee; and

  (h) perform all other necessary legal services in the cases.

Morrison & Foerster will be paid on its standard hourly rates.
The firm will also be reimbursed for its reasonable expenses.  The
ranges of the firm's rates are:

  -- the hourly rates for partners range from $600 per hour to
     $950 per hour, based upon a variety of factors, including
     seniority and distinction and expertise in one's field;

  -- the hourly rates for "of counsel" range from $395 per hour
     to $875 per hour;

  -- the hourly rates for associates range from $295 per hour to
     $640 per hour, based upon year of graduation from law
     school; and

  -- the hourly rates for paraprofessionals range from $165 per
     hour to $270 per hour.

These professionals at Morrison & Foerster are presently expected
to have primary responsibility for providing services to the
Creditors Committee:

     Professional           Position               Hourly Rate
     ------------           --------               -----------
     Brett H. Miller        Bankruptcy Partner         $875
     Lorenzo Marinuzzi      Bankruptcy Partner         $750
     Stefan W. Engelhardt   Litigation Partner         $745
     Mark S. Edelstein      Real Estate Partner        $850
     Jordan A. Wishnew      Bankruptcy Associate       $625
     Erica J. Richards      Bankruptcy Associate       $490
     Stacy L. Molison       Bankruptcy Associate       $430
     Laura Guido            Paraprofessional           $230

Brett H. Miller, Esq., a partner at Morrison & Foerster, assures
the Court that his firm is a "disinterested person," as that term
is defined in Section 101(14) of the Bankruptcy Code.

A hearing will be held on September 1, 2010, to consider the
application.  Objections are due August 27.

                   About Innkeepers USA Trust

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

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

Apollo Investment Corporation acquired Innkeepers in June 2007.

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

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

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

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


INNKEEPERS USA: Dewey & LeBoeuf Represents Preferred Shareholders
-----------------------------------------------------------------
Pursuant to Rule 2019(a) of the Federal Rules of Bankruptcy
Procedure, the Ad Hoc Committee of Preferred Shareholders informs
U.S. Bankruptcy Judge Shelley Chapman that it:

  (a) only represents its individual members and does not act as
      a fiduciary or otherwise on behalf of any other holders of
      claims or interests in the Debtors' bankruptcy estates;

  (b) does not own or control any claims or interests as a
      committee; rather each member owns and controls its own
      shares;

  (c) has no power to vote any claims or interests held by its
      members; and

  (d) exists solely as an efficient mechanism to enable its
      members to minimize expenses of vindicating their rights
      in the Debtors' cases by sharing professionals on issues,
      where each member takes the same position.

The Ad Hoc Committee Members are:

  -- Brencourt Credit Opportunities Master, Ltd., c/o Brencourt
     Advisors, LLC, at 600 Lexington Avenue, 8th Floor, in New
     York 10022;

  -- Esopus Creek Value LP, c/o Esopus Creek Advisors LLC, at
     150 JFK Parkway, Suite 100, in Short Hills, New Jersey
     07078; and

  -- Plainfield Special Situations Master Fund II Limited, c/o
     Plainfield Asset Management LLC, at 333 Ludlow Street, 30th
     Floor, in Stamford, Connecticut 06902.

Representing the Ad Hoc Committee, Martin J. Bienenstock, Esq.,
Dewey & LeBoeuf LLP, in New York, says that members of the Ad Hoc
Committee have individually acquired Innkeepers USA Trust's 8.0%
Series C Cumulative Preferred Shares before and after commencement
of the Chapter 11 cases:

  -- Brencourt Credit owns approximately 6.0% of the Preferred
     Shares;

  -- Esopus Creek owns approximately 9.0% of the Preferred
     Shares; and

  -- Plainfield owns approximately 9.0% of the Preferred Shares.

Mr. Bienenstock says that the individual members of the Ad Hoc
Committee engaged Dewey & LeBoeuf on July 28, 2010, to serve as
attorneys in respect of issues in the cases on which each member
takes the same position.

                   About Innkeepers USA Trust

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

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

Apollo Investment Corporation acquired Innkeepers in June 2007.

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

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

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

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


INNKEEPERS USA: Perkins Coie Represents Multiple Lenders
--------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy
Procedure, David M. Neff, Esq., at Perkins Coie LLP, in Chicago,
Illinois, discloses that his firm has been engaged as counsel to
multiple lender/creditors in connection with the Debtors'
bankruptcy cases:

                                                     Principal
Lender Name             Borrower    Property        Loan Amount
-----------            --------     --------        -----------
Wells Fargo Bank       Grand Prix   Hilton Hotel    $35,000,000
N.A., as Trustee for   Ontario      Ontario,
Credit Suisse First    Lessee LLC   California
Boston Mortgage
Securities Corp.,
Commercial Mortgage
Pass-Through
Certificates,
Series  2007-C1

Wells Fargo Bank       KPA HS       Hilton           13,700,000
N.A., as Trustee for   Anaheim LLC  Suites Hotel
Credit Suisse First                 Anaheim,
Boston Mortgage                     California
Securities Corp.,
Commercial Mortgage
Pass-Through
Certificates,
Series 2005-C5

The claims held by each of the Lenders are related to and in the
nature of mortgage loans encumbering properties owned by certain
of the Debtors, Mr. Neff says.  He adds that each loan is secured
by a direct mortgage on the subject property and a security
interest in the proceeds, rents and payment streams generated by
the property.

Mr. Neff assures U.S. Bankruptcy Judge Shelley Chapman that
Perkins Coie holds no claims against or interest in any of the
Debtors.

                   About Innkeepers USA Trust

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

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

Apollo Investment Corporation acquired Innkeepers in June 2007.

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

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

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

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


INSTACARE CORP: Posts $276,700 Net Income in Q2 Ended June 30
-------------------------------------------------------------
instaCare Corp. filed its quarterly report on Form 10-Q, reporting
net income of $276,741 on $5.3 million of revenue for the three
months ended June 30, 2010, compared with net income of
$1.3 million on $5.1 million of revenue for the same period of
2009.

The Company has an accumulated deficit of $17.1 million as of
June 30, 2010.

The Company's balance sheet as of June 30, 2010, showed
$4.5 million in total assets, $1.7 million in total liabilities,
$205,500 in contingencies, and stockholders' equity of
$2.6 million.

Beckstead & Watts, LLP, expressed substantial doubt about the
Company's ability to continue as a going concern, following its
2009 results.  The independent auditors noted that the Company has
suffered recurring losses from operations.

In its latest 10-Q, the Company discloses that although its
recent growth has greatly improved cash flows, and it generally
meets its obligations on a monthly basis, it, nonetheless needs to
obtain additional financing to provide working capital for growth
and to better manage its operations.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?69cc

Westlake Village, Calif.-based instaCare Corp., through its
subsidiary companies, is a nationwide prescription and non-
prescription diagnostics and home testing products distributor.


INTEGRATED ENVIRONMENTAL: Posts $182,100 Net Loss in June 30 Qtr.
-----------------------------------------------------------------
Integrated Environmental Technologies, Ltd. filed its quarterly
report on Form 10-Q, reporting a net loss of $182,148 on $572,312
of revenues for the three months ended June 30, 2010, compared
with a net loss of $456,252 on $783 of revenues for the same
period a year ago.

The Company's balance sheet at June 30, 2010, showed $1,293,820 in
total assets, $988,674 in total current liabilities, and $305,146
in stockholders' equity.

Following the Company's annual results for 2009, Weaver & Martin
LLC, in Kansas City, Mo., expressed substantial doubt about the
Company's ability to continue as a going concern.  The independent
auditors noted that the Company's ability to continue as a going
concern is dependent upon obtaining additional sources of capital
or borrowings.

In the Form 10-Q, the Company acknowledges that as a result of its
deficiency in working capital at December 31, 2009 and June 30,
2010, its auditors expressed substantial doubt about its ability
to continue as a going concern.  The Company says its ability to
continue as a going concern is dependent upon attaining profitable
operations.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?69d1

Little River, S.C.-based Integrated Environmental Technologies,
Ltd., through its wholly-owned subsidiary I.E.T., Inc., designs,
manufactures, and sells EcaFlo(R) equipment, which utilizes the
Electro-Chemical Activation process to generate environmentally
responsible EcaFlo(R) solutions - anolyte and catholyte - for use
in managing and controlling bacteria, fungi, viruses and other
unwanted microorganisms in an effective and economically
beneficial manner over a variety of commercial and industrial
applications.


IXI MOBILE: In Need of Additional Capital; Form 10-Q Delayed
------------------------------------------------------------
IXI Mobile Inc. said it could not timely file its quarterly report
on Form 10-Q for the period ended June 30, 2010, with the
Securities and Exchange Commission.

As a result of the initiation of several strategic measures
intended to refocus the Company's activities and to reduce
operating costs, the Company has not finalized its financial
statements for the quarter ended September 30, 2008, for the year
ended Dec. 31, 2008, for the quarters ended March 31, 2009, June
30, 2009 or September 30, 2009, for the year ended Dec. 31, 2009,
and for the quarters ended March 31, 2010 and June 30, 2010.  The
Company's auditors have not finalized their review or audit of
these financial statements and the Company is not currently in a
position to estimate the results for the interim periods or the
year end periods for which these reports have not been filed.

The Company believes that it needs to raise additional capital in
the near future in order to continue as a going concern, and there
can be no assurance that it will be successful in doing so or
that, even if the Company is able to raise additional capital,
which will be sufficient to allow the Company to continue as a
going concern.

                         About IXI Mobile

Headquartered in Belmont, California, IXI Mobile Inc. (OTC BB:
IXMO.0B) -- http://www.ixi.com/-- provides devices and hosted
services to mobile operators, mobile virtual network operators,
and Internet service providers in a number of international
markets.  Research and development activities are conducted
primarily in its facilities in Israel and Romania.

IXI Mobile Inc.'s consolidated balance sheet at June 30, 2008,
showed $29,504,000 in total assets, $40,856,000 in total
liabilities, and $11,352,000 in stockholders' deficit.

IXI Mobile has yet to file its financial reports for 2009 and
2010.


JONES SODA: Posts $1.6 Million Net Loss in June 30 Quarter
----------------------------------------------------------
Jones Soda Co. filed its quarterly report on Form 10-Q, reporting
a net loss of $1,554,000 on $5,365,000 in revenues for the three
months ended June 30, 2010, compared with a net loss of $1,967,000
on $7,482,000 in revenues for the same period a year ago.

The Company's balance sheet at June 30, 2010, showed $10,590,000
in total assets, $3,610,000 in total current liabilities, and
$6,978,000 in stockholders' equity.

As of June 30, 2010, the Company had cash and cash equivalents of
approximately $2,522,000 and working capital of $6,260,000.  Cash
used in operating activities during the six months ended June 30,
2010 totaled $2,518,000.

As reported by in the TCR on April 7, 2010, Deloitte & Touche LLP,
in Seattle, expressed substantial doubt about the Company's
ability to continue as a going concern, following the Company 2009
results.  The independent auditors noted of the Company's
recurring losses from operations, negative cash flows from
operating activities, accumulated deficit, significant
uncertainties in the Company's ability to meet their 2010
operating plan, and the need to obtain additional equity or debt
financing, during 2010 or early 2011.

The Company acknowledges in the Form 10-Q that economic conditions
in 2009 and the first half of 2010 have made forecasting demand
for its products extremely difficult, so there is continued
uncertainty regarding its ability to meet its revised case sales
projections.  "These uncertainties, together with the Company's
inability to implement further meaningful cost containment
measures beyond those it has already undertaken and the extremely
difficult environment in which to obtain additional equity or debt
financing, continue to raise substantial doubt about its ability
to continue as a going concern."

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?69ce

Headquartered in Seattle, Washington, Jones Soda Co.
(NASDAQ: JSDA) -- http://www.jonessoda.com/-- markets and
distributes premium beverages under the Jones Soda, Jones Pure
Cane Soda(TM), Jones 24C(TM), Jones GABA(R), Whoopass Energy
Drink(R) brands and sells through its distribution network in
markets primarily across North America.


LEHMAN BROTHERS: LBIE Sues Dubai Holdings Over Swap Transactions
----------------------------------------------------------------
Lehman Brothers International Europe sued Dubai Holding Commercial
Operations Group LLC over the value of swap transactions,
according to a report by Bloomberg News.

LBIE, which is in administration in the U.K., filed the lawsuit
in London, the report said.

PricewaterhouseCoopers LLP, LBIE's administrator, said in an e-
mailed statement that the case is "a straightforward financial
dispute regarding the valuation of certain swap transactions
entered into between the parties."  The firm refused to provide
information on the value of the swaps, Bloomberg News reported.

Dubai Holding is a real estate and hospitality group owned by the
emirate's ruler.

                       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)


LEHMAN BROTHERS: SEC Interviews Former Execs. on Collapse
---------------------------------------------------------
Investigators at the U.S. Securities and Exchange Commission has
been coordinating sit-down interviews with former Lehman Brothers
Inc. staffers, including the financial company's former chief
executive officer, Mark DeCambre of The New York Post reported.

Regulators have a keen eye on Mr. Fuld, along with Lehman's
former financial officers, including Erin Callan, Ian Lowitt and
Chris O'Meara, the report said, citing sources familiar with the
investigation.  Former Lehman President Joseph Gregory and
possibly the firm's chief legal officer Tom Russo are also being
eyed, the report added.

The sit-downs are in line with the SEC's investigation into the
collapse of the financial company in September 2008.  The
interviews, according to the report, focus on discussions on the
period leading up to the company's collapse.  The SEC are digging
into whether Lehman's former CEO and executives made false
statements during its 2008 first-quarter and second-quarter
earnings calls.

Investigators are said to be asking questions about Lehman's
practice of selling assets to banks in order to make its balance
sheet appear healthier, a practice known as Repo 105, which was
highlighted by Lehman bankruptcy examiner Anton Valukas, the
report said.

                       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)


LEHMAN BROTHERS: $6 Billion in Claims Change Hands in June & July
-----------------------------------------------------------------
Two hundred sixty-seven claims totaling $3,094,843,771 changed
hands in the Debtors' bankruptcy cases in June 2010.  Among the
largest claims traded were:

Transferor           Transferee          Claim No.   Claim Amount
---------            ----------          ---------   ------------
Morgan               Taconic Capital        6706     $849,060,000
Stanley & Co.        Partners 1.5 L.P.
International PLC

Popolare Vita        Sea Port Group        55728      222,712,093
S.p.A                Securities LLC

Popolare Vita        Sea Port Group        55728      162,636,544
S.p.A                Securities LLC

The Reserve          JPMorgan Chase        17320      125,000,000
International        Bank, N.A.
Liquidity Fund
Ltd.

Barclays             Moore Macro           60700       76,076,199
Bank PLC             Fund, L.P.

Sea Port Group       The Varde Fund        55728       49,621,187
Securities, LLC      IX, L.P.

Sea Port Group       The Varde Fund        55728       45,539,143
Securities, LLC      V, L.P.

Deutsche Bank AG,    King Street           11387       39,639,441
London Branch        Acquisition
                    Company, L.L.C

Sea Port Group       The Varde Fund        55728       39,032,941
Securities, LLC      V, L.P.

Fondazione Cassa     JPMorgan Chase        66523       37,636,344
DI Risparmio DI      Bank, N.A.
Padova E Rov

                         July Claims Trading

Three hundred and thirty-six claims totaling $2,832,959,808
changed hands in Lehman Brothers' bankruptcy cases in July 2010.
Among the largest claims traded were:

Transferors           Transferee        Claim No.  Claim Amount
-----------           ----------        ---------  ------------
Sea Port Group        TSO LLC             55728    $222,712,093
Securities, LLC

Credit Suisse AG      Credit Suisse       22852     138,712,743
                      International

Credit Suisse AG      Credit Suisse       22854     138,712,743
                      International

Asahi Mutual Life     JPMorgan Chase      66884      95,822,716
Insurance Co.         Bank, N.A.

JPMorgan Chase        Mount Kellett       66884      95,822,716
Bank, N.A.            Master Fund II LP

Harbinger Capital     JPMorgan Chase      66655      94,500,000
Partners Master       Bank, N.A.
Fund I, Ltd.

Harbinger Capital     JPMorgan Chase      66653      94,500,000
Partners Master       Bank, N.A.
Fund I, Ltd.

Moore Macro Fund,     Morgan Stanley      60700      79,803,933
L.P.                  & Co. Int'l PLC

Morgan Stanley        Mount Kellett       60700      79,803,933
& Co. Int'l PLC       Master Fund II LP

Barclays Bank PLC     Botticelli, LLC     55744      67,780,013

Tiger Global, L.P.    BKS Claims LLC      33262      53,966,132

Merrill Lynch         CBW LLC             32618      51,493,425
Credit Products LLC

Merrill Lynch         CBW LLC             32617      51,493,425
Credit Products LLC

                       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)


LEHMAN BROTHERS: Weil Gotshal Asks for $46.7MM for Feb.-May
-----------------------------------------------------------
Professionals retained in Lehman Brothers' bankruptcy cases seek
interim allowance of their applications for payment of fees and
reimbursement of their expenses:

A. Debtors' Professionals

Professional               Period            Fees      Expenses
------------               ------          --------    --------
Bingham McCutchen LLP      02/01/10 to   $2,746,440    $103,873
                            05/31/10

Bortstein Legal LLC        02/01/10 to     $455,886          $0
                            05/31/10

Curtis Mallet-Prevost      02/01/10 to   $3,546,135    $135,181
Colt & Mosle LLP           05/31/10

Dechert LLP                03/01/10 to     $624,268     $11,199
                            05/31/10

Gibson Dunn & Crutcher LLP 02/01/10 to     $771,797     $12,644
                            05/31/10

Jones Day                  02/01/10 to  $12,925,764    $361,198
                            05/31/10

Kasowi1z Benson Torres     02/01/10 to     $186,714    $125,292
& Friedman LLP             05/31/10

Kleyr Grasso Associes      02/01/10 to     $198,958      $4,706
                            05/31/10

Latham & Watkins LLP       02/01/10 to     $195,195      $9,437
                            05/31/10

Lazard Freres & Co. LLC    02/01/10 to   $3,050,000    $632,964
                            05/31/10

McKenna Long &             02/01/10 to     $612,775     $24,983
Aldridge LLP               05/31/10

Pachulski Stang Ziehl      02/01/10 to     $469,354      $3,843
& Jones LLP                05/30/10

Reilly Pozner LLP          02/01/10 to   $1,068,857    $113,127
                            05/31/10

Simpson Thacher &          02/01/10 to     $117,433      $1,797
Bartlett LLP               05/31/10

Sutherland Asbill &        02/01/10 to     $232,905      $1,024
Brennan LLP                05/31/10

Weil Gotshal & Manges LLP  02/01/10 to  $46,694,158  $1,125,788
                            05/31/10

Windels Marx Lane &        02/01/10 to     $480,262      $6,378
Mittendorf LLP             05/31/10

B. Official Committee of Unsecured Creditors' Professionals

Professional               Period            Fees      Expenses
------------               ------          --------    --------
FTI Consulting Inc.        02/01/10 to   $9,684,055     $89,869
                            05/31/10

Houlihan Lokey Howard      02/01/10 to   $1,600,000     $54,675
& Zukin Capital Inc.       05/31/10

Milbank Tweed Hadley       02/01/10 to  $19,450,342    $851,804
& McCloy LLP               05/31/10

Quinn Emanuel Urquhart     02/01/10 to   $3,480,537    $281,095
& Sullivan LLP             05/31/10

Richard Sheldon            02/01/10 to    GBP10,725        GBP0
                            05/31/10

C. Anton Valukas, Court-appointed Examiner's Professionals

Professional               Period            Fees      Expenses
------------               ------          --------    --------
Anton Valukas              02/01/10 to   $3,527,374    $362,281
                            05/31/10

Duff & Phelps LLC          02/01/10 to     $629,481      $5,958
                            05/31/10

                       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)


LEXICON UNITED: Delays Form 10-Q for June 30 Quarter
----------------------------------------------------
Lexicon United Incorporated said it could not timely file its
quarterly report on Form 10-Q for the period ended June 30, 2010,
with the Securities and Exchange Commission but it expects to file
its report within the grace period provided by Exchange Act Rule
12b-25.

                       About Lexicon United

Austin, Tex.-based Lexicon United Incorporaed and its subsidiary,
ATN Capital e Participacoes Ltd., a Brazilian limited company, are
engaged in the business of purchasing, managing and collecting
defaulted consumer receivables for its own account and managing,
collecting and servicing portfolios of defaulted and charged-off
account receivables for large financial institutions in Brazil.
These receivables are acquired from consumer credit originators,
primarily credit card issuers in Brazil.

As reported in the Troubled Company Reporter on May 25, 2010,
Meyler & Company, LLC, in Middletown, N.J., expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that the Company continues to have
negative cash flows from operations, recurring losses from
operations, and has a stockholders' deficit.


LEVEL 3: Director Ellis Raises Stake to 576,632 Shares
------------------------------------------------------
Level 3 Communications Inc.'s director James O. Ellis Jr.
disclosed that he acquired 100,000 shares of common stock at $1.14
apiece, raising his stake to 576,632 shares.  He directly holds
those shares.

Andrew Crouch, Level 3 president for Sales, disclosed that he
directly holds 559,616 shares of Level 3 common stock as of August
19.  He may also be deemed to indirectly hold 26,523 shares held
by a 401(k) plan.

Level 3 had 1,664,768,360 shares outstanding as of July 30, 2010.

                           About Level 3

Headquartered in Broomfield, Colorado, Level 3 Communications,
Inc., is a publicly traded international communications company
with one of the world's largest communications and Internet
backbones.

The Company's balance sheet at June 30, 2010, showed $8.296
billion in total assets, $8.281 billion in total liabilities, and
$15.0 million in total stockholders' equity.

Level 3 Communications carries a 'Caa1' corporate family rating,
and 'Caa2' probability of default rating, with negative outlook
from Moody's, a 'B-' issuer default rating from Fitch, and 'B-'
long term issuer credit ratings from Standard & Poor's.


LINEAR TECHNOLOGY: To Buy Back $395.8MM 2027B Notes in November
---------------------------------------------------------------
Linear Technology Corporation disclosed in its fiscal 2010 annual
report that as of June 27, 2010, the Company has debt outstanding
of:

     * $845.1 million aggregate principal amount of its 3.00%
       Convertible Senior Notes due May 1, 2027 -- 2027A notes;
       and

     * $395.8 million aggregate principal amount of its 3.125%
       Convertible Senior Notes due May 1, 2027 -- 2027B notes.

In its Form 10-K report for the fiscal year ended June 27, 2010,
the Company said holders of the Notes have the right to require
the Company to repurchase the Notes for cash on specified dates or
upon the occurrence of a fundamental change.

The first of these dates is November 1, 2010, at which time the
Company intends to repurchase all of the outstanding $395.8
million principal amount -- less any amounts repurchased by the
Company in the open market prior to such time -- of the 2027B
Notes.  The Company said it has the ability to repurchase the
$395.8 million principal amount of the 2027B Notes on this date.

The Company said the $845.1 million principal amount of its 2027A
Notes can be redeemed at any time on or after May 1, 2014.  The
Company said it presently intends to repurchase the 2027A Notes on
May 1, 2014, however, it may not have sufficient funds to
repurchase the 2027A Notes in cash or have the ability to arrange
necessary financing on acceptable terms.  In addition, upon
conversion of the 2027A Notes the Company will be required to make
cash payments to the holders of the 2027A Notes equal to the
lesser of the principal amount of the 2027A Notes being converted
and the conversion value of those 2027A Notes.  Those payments
could be significant, and the Company may not have sufficient
funds to make them at such time.

The Company also noted that even if it does have sufficient funds
to repurchase the 2027A Notes and make any additional required
payments, doing so could reduce its working capital below levels
that it believes are necessary or appropriate for the ongoing
operation of its business.  "In such case, we might be forced to
raise additional financing at the time of the repurchase or
thereafter until cash generated from operations can restore
working capital to the desired level," the Company said.

                     About Linear Technology

Milpitas, California-based Linear Technology Corporation (NASDAQ-
LLTC) -- http://www.linear.com/-- manufactures high performance
linear integrated circuits, including high performance amplifiers,
comparators, voltage references, monolithic filters, linear
regulators, DC-DC converters, battery chargers, data converters,
communications interface circuits, RF signal conditioning
circuits, uModuleO products, and many other analog functions.

As of June 27, 2010, the Company had $1.590 billion in total
assets, $1.552 billion in total liabilities, and $39.785 million
in stockholders' equity.

Linear Technology reported $1.512 billion in total assets, $1.627
billion in total liabilities, and a $114 million in stockholders'
deficit as of December 27, 2009.

This concludes the Troubled Company Reporter's coverage of Linear
Technology until facts and circumstances, if any, emerge that
demonstrate financial or operational strain or difficulty at a
level sufficient to warrant renewed coverage.


LITHIUM TECHNOLOGY: Delays Filing of Form 10-Q for June 30 Quarter
------------------------------------------------------------------
Lithium Technology Corporation said it could not timely file its
quarterly report on Form 10-Q for the period ended June 30, 2010,
with the Securities and Exchange Commission because it requires
additional time to complete its financial statements and
corresponding narratives for management's discussion and analysis.

                     About Lithium Technology

Plymouth Meeting, Pa.-based Lithium Technology Corporation is a
global manufacturer and provider of rechargeable energy storage
solutions for diverse applications.

The Company's balance sheet as of December 31, 2009, showed
$11,468,000 in assets, $29,308,000 of debts, and stockholders'
deficit of $17,840,000.

The Company reported a net loss of $10,510,00 on $7,371,000 of
revenue for 2009, compared with a net loss of $6,414,000 on
$4,167,000 of revenue for 2008.

Amper, Politziner & Mattia LLP, in Edison, N.J., expressed
substantial doubt about the Company's ability to continue as a
going concern, following the Company's 2009 results.  The
independent auditors noted that the Company as recurring losses
from operations since inception and has a working capital
deficiency.


LOCAL INSIGHT: S&P Cuts Ratings to 'CCC-', Gives Negative Outlook
-----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its ratings on
Englewood, Colo.-based Local Insight Regatta Holdings Inc. to
'CCC-' from 'CCC+'.  The rating outlook is negative.

At the same time, S&P lowered the issue-level rating on LIRH's
senior secured credit facilities to 'CCC-' (at the same level as
the 'CCC-' corporate credit rating on the company) from 'B-'.  The
recovery rating on these loans is revised to a '3', indicating
S&P's expectation of meaningful (50%-70%) recovery for lenders in
the event of a payment default, from a '2'.

S&P also lowered its issue-level rating on LIRH's senior
subordinated notes to 'C' (two notches lower than the 'CCC-'
corporate credit rating) from 'CCC-'.  The recovery rating on
these securities remains a '6', indicating S&P's expectation of
negligible (0%-10%) recovery for lenders in the event of a payment
default.

The rating downgrade reflects S&P's belief that the consolidated
group of Local Insight Media companies will be challenged to
service its current capital structure, given S&P's performance
expectations, as well as covenant tightness and other liquidity
pressures at various operating subsidiaries.  S&P believes that
credit measures of the consolidated group will continue to
deteriorate over the near term at an accelerated pace, resulting
in S&P's expectation for a deterioration of interest coverage to
just over 1.0x by the end of 2010 and to 1.0x in 2011.

In addition, S&P expects near term covenant violations at both
LIRH and affiliate Caribe Media Inc., and S&P believes that LIM's
ability to fund interest on a loan at an affiliate of LIRH and
Caribe will be impaired going forward.  In addition to relying on
distributions from LIRH and Caribe, residual funds from certain
other operating subsidiaries have been used to fund interest on
this affiliate loan.  A leverage ratio was recently breached under
the terms of a whole business securitization of these
subsidiaries, which has triggered a partial amortization event of
the securitization financing.  Among other things, this breach
precludes residual funds from leaving the securitization
structure.  Given these circumstances and the uncertainty around
lenders willingness to provide covenant relief to the extent that
distributions would be feasible, it is unclear how this affiliated
loan will be serviced, which could result in a near-term liquidity
event for the consolidated company.  S&P therefore expects LIM
will need to consider alternatives regarding its capital
structure, which may include a restructuring or bankruptcy filing.

The ratings on LIRH are based on the consolidated credit quality
of the LIM family of companies.  LIRH is indirectly owned by Local
Insight Media Holdings, Inc., that also indirectly owns entities
that participate in the whole business securitization, consisting
of ACS Media (the incumbent yellow page publisher in Alaska), CBD
Media (the incumbent yellow page publisher in Cincinnati), and HYP
Media (the incumbent yellow page publisher in Hawaii).  Holdings
is owned in part by certain funds of Welsh, Carson, Anderson &
Stowe; Spectrum Equity Investors; and certain members of
management.  Holdings is also the indirect parent of Caribe (the
incumbent yellow page publisher in Puerto Rico and the Dominican
Republic).  Given the strategic relationships between, and common
management and ownership of the various operating entities, S&P
views the rating of each individual entity based on a global view
of the creditworthiness of all other entities.  S&P expects
decisions in support of the owners' operating and financial
strategies will be made with a view toward the collective group of
companies.


MARKETING WORLDWIDE: Earns $695,800 in Q3 Ended June 30
-------------------------------------------------------
Marketing Worldwide Corporation filed its quarterly report on Form
10-Q, reporting net income of $695,852 on $1.1 million of revenue
for the three months ended June 30, 2010, compared with a net loss
of $439,845 on $834,406 of revenue for the three months ended
June 30, 2009.

The increase in net income was primarily attributed to the gain on
the change of fair value of the derivative liability during the
three months ended June 30, 2010.

For the six months ended June 30, 2010, the Company reported a net
loss of $1.3 million on $3.2 million of revenue, compared with a
net loss of $2.1 million on $2.5 million of revenue for the three
months ended June 30, 2009.

The Company's balance sheet as of June 30, 2010, showed
$3.6 million in total assets, $5.8 million in total liabilities,
$3.5 million in Series A convertible preferred stock, and
stockholders' deficit of $5.7 million.

As reported in the Troubled Company Reporter on January 18, 2010,
RBSM LLP, in New York, expressed substantial doubt about the
Company's ability to continue as a going concern after auditing
the Company's consolidated financial statements for the year ended
September 30, 2009.  The independent auditors noted that the
Company has generated negative cash outflows from operating
activities, experienced recurring net operating losses, is in
default of loan certain covenants, and is dependent on securing
additional equity and debt financing to support its business
efforts.

In its latest 10-Q, the Company discloses that it is in default on
certain secured credit facilities, and that it will need to raise
additional financing and develop profitable operations to continue
in existence.  "If additional financing is not available or is not
available on acceptable terms, we will have to curtail our
operations."

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?69bb

Based in Howell, Michigan, Marketing Worldwide Corporation (OTC
BB: MWWC) -- http://www.mwwautomotive.com/-- is a full service
design, engineering and manufacturing firm of original equipment
manufacturer components in the automotive accessory market.


MAYSVILLE INC: Cash Collateral Hearing Continued Until August 25
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida has
continued until August 25, 2010, at 2:00 p.m., the hearing to
consider Maysville, Inc.'s further access to the cash collateral
of MUNB Loan Holdings LLC.  The hearing will be held at 51 SW
First Ave., Room 1409, Miami, Florida.

As reported in the Troubled Company Reporter on July 26, the
Debtor was indebted and liable to Mellon under the Development
Loan Documents in the aggregate amount of $23,207,131, including
accrued and unpaid interest thereon, and fees and expenses.  The
loan is secured by liens on and security interests in the
collateral, subordinate only to the carve-out for certain
expenses.
The Bankruptcy Court has previously entered an interim order
allowing the Debtor to use cash collateral, consisting of cash,
cash equivalents, and any proceeds of the collateral, to fund its
day-to-day operations and the administration of the Chapter 11
case.

The Debtor related that Mellon is adequately protected by (i) the
Debtor's use of cash collateral which maximizes and preserves the
value of the collateral, (ii) the adequate protection payments,
(iii) the adequate protection liens, and (iv) superpriority
administrative claim.

                       About Maysville, Inc.

Miami, Florida-based Maysville, Inc., filed for Chapter 11
bankruptcy protection on June 28, 2010 (Bankr. S.D. Fla. Case No.
10-28244).  Stan Riskin, Esq., who has an office in Plantation,
Florida, assists the Company in its restructuring effort.  The
Company disclosed $24,690,000 in assets and $20,225,364 in
liabilities as of the Petition Date.


MESA AIR: Assumes Flight Training Services Agreements
-----------------------------------------------------
Mesa Air Group Inc. and its units entered into separate Court-
approved stipulations with certain parties with respect to certain
agreements for flight training services to be provided by the
applicable Debtors.

(1) Oberlin

Debtor MPD, Inc., and J. F. Oberlin University are parties to a
certain Memorandum of Understanding, dated October 26, 2009,
wherein MPD provides certain flight training services for Oberlin
students enrolled as international students in the Arizona State
University Aviation Professional Flight Program.

MPD has determined in its business judgment that assumption of
the Agreement, as amended, effective as of the date of entry of
an order approving the Stipulation, to provide for termination on
August 15, 2011, pursuant to Section 365(a) of the Bankruptcy
Code is in the best interest of its estate and creditors.

Among other things, MPD and Oberlin agreed that (i) no cure
amounts are due under the Agreement, and (ii) the Debtor has
provided adequate assurance of future performance under the
Agreement pursuant to Section 365(b)(1)(C).

(2) ASU

MPD and Arizona Board of Regents, for and on behalf of Arizona
State University and Arizona State University East, commonly
known as ASU Polytechnic -- collectively, ASU -- are parties to a
certain Agreement for Flight Training Services, dated July 1,
2001, pursuant to which MPD provides flight training and related
services in conjunction with ASU's aviation program.

MPD has determined in its business judgment that assumption of
the Flight Training Agreement, as amended to provide for
termination on August 15, 2011, subject to early termination by
either party by giving the other party 120 days' prior written
notice, pursuant to Section 365(a) is in the best interest of its
estate and creditors.

Mesa Airlines and ASU are also parties to a certain Affiliation
Agreement, dated April 30, 2002, pursuant to which the Debtor
provides academic and aviation ground training services in
conjunction with ASU's aeronautical program.

Mesa Airlines has determined that assumption of the Mesa Airlines
Affiliation Agreement, as amended to provide for termination on
August 15, 2011, subject to early termination by either party
with 120 days' prior notice to the other party, pursuant to
Section 365(a) is in the best interest of its estate and
creditors.

Mesa Air Group, Inc., and ASU are parties to a certain Affiliation
Agreement, dated September 5, 2002, pursuant to which the Debtor
provides academic and aviation ground training services in
conjunction with ASU's aeronautical program.

Mesa has determined in its business judgment that assumption of
the MAG Affiliation Agreement, as amended to provide for
termination on August 15, 2011, subject to early termination by
either party by means of a 120 days' prior written notice to the
other party, pursuant to Section 365(a) is in the best interest
of its estate and creditors.

Mesa, Mesa Airlines and MPD, and ASU have agreed that (i) payment
by MPD to ASU of $22,885 will cure all defaults under the Flight
Training Agreement pursuant to Section 365(b)(1)(A); (ii) MPD has
provided adequate assurance of future performance under the
Agreement pursuant to Section 365(b)(1)(C); (iii) no cure amounts
are due under the Affiliation Agreements; and (iv) Mesa and Mesa
Airlines have provided adequate assurance of future performance
under the Affiliation Agreements pursuant to Section
365(b)(1)(C).

The assumption of the Agreements is deemed effective upon the
date of approval by the Court of the Stipulation.

                     About Mesa Air Group

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

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

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

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


MESA AIR: Exclusive Plan Filing Period Extended Until Oct. 21
-------------------------------------------------------------
Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern
District of New York ordered that, if the Official Committee of
Unsecured Creditors files and serves an objection to the motion to
extend the exclusive periods by October 8, 2010, the Exclusive
Plan Filing Period of Mesa Air Group, Inc., and its debtor
affiliates is extended an additional 49 days through and including
October 21, 2010.

The Debtors' Exclusive Solicitation Period is also extended for
an additional 49 days through and including December 22, 2010, or
through the date the Court enters an order determining whether
the periods should be further extended.

If the Creditors' Committee timely files an objection, the Court
will consider that objection and the Debtors' response at the
omnibus hearing scheduled for October 19, 2010, and determine
whether the Exclusive Filing Period and Exclusive Solicitation
Period should be extended through December 1, 2010, and
February 1, 2011.

If the Creditors' Committee does not file and serve an objection
to the Motion before October 8, the Debtors' Exclusive Filing
Period will be automatically extended for an additional 41 days
through and including December 1, 2010, and the Exclusive
Solicitation Period will be automatically extended for an
additional 41 days through and including February 1, 2011.

                     About Mesa Air Group

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

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

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

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


MESA AIR: Proposes Methodology for CRAFT Claims
-----------------------------------------------
Mesa Air Group Inc. and its units ask the U.S. Bankruptcy Court to
approve a resolution of certain Canadian Regional Aircraft Finance
Transaction No. 1 Limited claims in accordance with their proposed
methodology.

As of August 2, 2010, the Debtors have filed 20 notices of
rejection or abandonment with respect to seven engine leases and
80 aircraft leases.  CRAFT is the controlling party with respect
to nine of the aircraft leases.  It is also the controlling
secured party with respect to two owned aircraft, one of which
has been abandoned and the agreement of the other restructured.

After the rejection of the CRAFT Leases and the abandonment of
the Owned Aircraft, the Debtors and CRAFT have agreed to a
methodology for the determination, settlement and allowance of
(i) prepetition general unsecured claims arising from the
rejection of the CRAFT Leases -- CRAFT Settled Rejection Damage
Claims -- and the abandonment of the Owned Aircraft -- CRAFT
Settled Abandonment Claims, and (ii) claim arising from Mesa Air
Group, Inc.'s guarantee of the CRAFT Settled Rejection Damage
Claims and CRAFT Settled Abandonment Claims.

Other than these, the CRAFT Claims do not include any other types
of claims, including, without limitation, administrative priority
claims and other types of general unsecured claims not arising
from the rejection of a CRAFT Lease or abandonment of an Owned
Aircraft, which matters remain subject to the terms of the
applicable Section 1110(b) Stipulations between the Debtors and
CRAFT.

                      Proposed Methodology

John W. Lucas, Esq., at Pachulski Stang Ziehl & Jones LLP, in New
York, notes that, ordinarily, upon the rejection of an aircraft-
related lease, the claim would be determined by calculating the
sum of the "Stipulated Loss Value" and the costs associated with
satisfying the return conditions of the subject aircraft, and
then subtracting the fair market value of the aircraft.

The Debtors and their advisors believe that the determination of
the fair market value of an aircraft and the cost associated with
the Return Conditions of a rejected aircraft would be fact
intensive and subject to dispute among the Debtors, CRAFT, and
other major creditor constituencies in these cases.
Consequently, the liquidation of these claims would likely be
time consuming and expensive, Mr. Lucas says.

The Debtors and their advisors believe that the value of the
aircraft subject to the CRAFT Leases is roughly equivalent to the
claims arising from the Return Conditions.  Since these values
would likely be set off against the other, the Debtors believe it
is best to use Stipulated Loss Value -- subject to certain
adjustments -- to arrive at the value of the CRAFT Settled
Rejection Damage Claims, Mr. Lucas relates.

The Debtors believe that any variation in the value of the CRAFT
Settled Rejection Damage Claims as a result of the proposed
methodology as compared to the actual liquidated value of the
claim would likely be offset by the fees and expenses associated
with expert reports and litigation before the Court, according to
Mr. Lucas.

Unlike the CRAFT Settled Rejection Damage Claims, the CRAFT
Settled Abandonment Claims relating to the Owned Aircraft do not
include a return condition component.  Accordingly, the Debtors
believe that the liquidation of these claims is easier since it
only requires the Debtors and CRAFT to ascertain the amount
outstanding and the fair market value of the Owned Aircraft.  The
Debtors and CRAFT have agreed to the amount outstanding and the
fair market value, which results in the proposed CRAFT Settled
Abandonment Claim to be allowed.

The Debtors propose a methodology to establish the final amount
of the CRAFT Settled Rejection Damage Claims, the CRAFT Settled
Abandonment Claims, and the CRAFT Settled Mesa Air Group
Guarantee Claims, without the necessity of obtaining any further
Court order.  The proposed methodology will approve the
settlement and allowance of the CRAFT Claims free from any
objections by the Debtors or any other party-interest.

A full-text copy of the proposed methodology, including a list of
the claims, is available at no charge at:

     http://bankrupt.com/misc/Mesa_CRAFTmethodology080210.pdf

In no event will the allowance of any CRAFT Claim provide for any
monetary payment to be made by the Debtors from property of their
estates to or on behalf of CRAFT, except under the Debtors'
Chapter 11 plan of reorganization approved by the Court.

The Debtors acknowledge and agree that the Stipulated Loss
Values, fair market values, and other components of the CRAFT
Claims equal the total amount of the CRAFT Claims to be allowed.

The allowance of any CRAFT Claims will not affect the Debtors'
rights, if any, to offset, recoup, or reduce a CRAFT Claim by any
other means permitted under the Bankruptcy Code or under
applicable non-bankruptcy law.

                     About Mesa Air Group

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

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

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

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


MEXICANA AIRLINES: Asked to Comply With Mandate for PFCs
--------------------------------------------------------
Catherine Ang, acting associate administrator for airports, has
asked Mexicana Airlines to comply with the statutory mandate for
treatment of its passenger facility charges during its insolvency
proceedings.

In a letter to Mexicana Airlines, Ms. Ang asked the company to
comply with Title 49, U.S. Code, Section 40117(m), and 14 Code of
Federal Regulations Part 158.

Section 40117(m) imposes requirements for airlines in bankruptcy
to use in its handling of passenger facility charges while 14 CFR
Section 158 sets out the day-to-day rules for both airports and
air carriers with PFC obligations.

Furthermore, the basic requirements of Section 40117(m) and 14
CFR Section 158.49 direct an air carrier, on entering a
bankruptcy proceeding, to:

  (1) remove any PFCs commingled with its corporate revenues;

  (2) establish for the duration of the bankruptcy proceeding, a
      separate and segregated account, and place therein the PFC
      revenues, plus an amount equal to its average monthly PFC
      collections; and

  (3) refrain from any commingling of future PFC revenue with
      any other corporate funds by also placing them in the PFC
      account).

Ms. Ang says the company, having filed a Chapter 15 bankruptcy
petition, must also establish the PFC account that must be funded
immediately.

"The average month's PFC balance placed in the PFC account should
be calculated from the average of the airline's past 12 months
of PFC liabilities prior to entering bankruptcy," Ms. Ang says in
the letter.

She further says that any PFCs collected by Mexicana Airlines,
but not remitted to airports, must also be immediately placed in
the PFC account and that the minimum PFC account balance should
never fall below the average monthly amount.

Ms. Ang suggests that Mexicana Airlines continue to deposit its
ticket sales revenue into the company's general operating
accounts combined with PFCs.  She further recommends that all PFC
revenue should be accounted for, removed from those accounts and
transferred to the new and separate PFC account at least once
every business day.

"The PFC account is solely for PFC transactions.  No separate PFC
account for each airport needs be established," Ms. Ang says,
adding that Mexicana Airlines cannot pledge PFCs as collateral in
any financial transaction.

Ms. Ang asks Mexicana Airlines to provide to the Federal Aviation
Administration by September 2, 2010, a copy of the company's PFC
report prepared under 14 CFR Section 158.65, and include a list
of any airports owed outstanding PFC obligations.

She also asks the company to provide the FAA with a PFC account
statement every fifth day of each month, which discloses the
amount representing the company's average one-month PFC
liability; amount representing any unremitted PFCs; and total
funds dispersed during the month.

                      About Mexicana Airlines

Compania Mexicana de Aviacion or Mexicana Airlines --
http://www.mexicana.com/-- is a privately held airline and a
subsidiary of Nuevo Grupo Aeronautico.  Founded in 1921, Mexicana
is the oldest commercial carrier in North America.  Charles
Lindbergh piloted the first trip for Mexicana between Brownsville,
Texas, and Mexico City.

Grupo Mexicana de Aviacion is the parent of Compania Mexicana. Two
other units are Aerovias Caribe S.A. de C.V. (Mexicana Click) and
Mexicana Inter S.A. de C.V. (Mexicana Link).

Compania Mexicana de Aviacion or Mexicana Airlines, Mexico's
largest airline, filed for bankruptcy in the U.S. and Mexico on
August 2, 2010.  In the U.S., the company filed in the U.S.
Bankruptcy Court in Manhattan for Chapter 15 bankruptcy protection
(case no. 10-14182), and in Mexico, it filed for the equivalent of
Chapter 11.

Maru E. Johansen, foreign representative of Compania Mexicana,
estimated in the Chapter 15 petition that the company has assets
of US$500 million to US$1 billion and debts of more than
US$1 billion.  William C. Heuer, Esq., at Duane Morris LLP, serves
as counsel to Ms. Johansen.

Mexicana de Aviacion stated that despite its bankruptcy filing, it
expects to continue to operate normally, and that such filings

Bankruptcy Creditors' Service, Inc., publishes Mexicana Airlines
Bankruptcy News.  The newsletter tracks the chapter 11 proceedings
and the ancillary proceedings undertaken by Compania Mexicana de
Aviacion and its units.  (http://bankrupt.com/newsstand/or
215/945-7000).


MEXICANA AIRLINES: Resolves CIT Objection to Injunction
-------------------------------------------------------
Mexicana Airlines entered into a stipulation resolving the
objection of C.I.T. Leasing Corp., CIT Aerospace International,
Wilmington Trust SP Services (Dublin) Ltd. and Wells Fargo Bank
Northwest N.A. to Mexicana's request for a preliminary injunction.

The stipulation provides that the U.S. Bankruptcy Court's August 2
and 18 orders to Show Cause with Temporary Restraining Order, or
Section 362 of the Bankruptcy Code does not enjoin or prevent the
objecting parties from exercising their rights or remedies with
respect to certain assets.   A list of these assets is available
for free at http://bankrupt.com/misc/Mexicana_CITAssets.pdf

Judge Martin Glenn approved the stipulation on August 23, 2010.

A full-text copy of the stipulation is available without charge
at http://bankrupt.com/misc/Mexicana_StipulationCIT.pdf

                      About Mexicana Airlines

Compania Mexicana de Aviacion or Mexicana Airlines --
http://www.mexicana.com/-- is a privately held airline and a
subsidiary of Nuevo Grupo Aeronautico.  Founded in 1921, Mexicana
is the oldest commercial carrier in North America.  Charles
Lindbergh piloted the first trip for Mexicana between Brownsville,
Texas, and Mexico City.

Grupo Mexicana de Aviacion is the parent of Compania Mexicana. Two
other units are Aerovias Caribe S.A. de C.V. (Mexicana Click) and
Mexicana Inter S.A. de C.V. (Mexicana Link).

Compania Mexicana de Aviacion or Mexicana Airlines, Mexico's
largest airline, filed for bankruptcy in the U.S. and Mexico on
August 2, 2010.  In the U.S., the company filed in the U.S.
Bankruptcy Court in Manhattan for Chapter 15 bankruptcy protection
(case no. 10-14182), and in Mexico, it filed for the equivalent of
Chapter 11.

Maru E. Johansen, foreign representative of Compania Mexicana,
estimated in the Chapter 15 petition that the company has assets
of US$500 million to US$1 billion and debts of more than
US$1 billion.  William C. Heuer, Esq., at Duane Morris LLP, serves
as counsel to Ms. Johansen.

Mexicana de Aviacion stated that despite its bankruptcy filing, it
expects to continue to operate normally, and that such filings

Bankruptcy Creditors' Service, Inc., publishes Mexicana Airlines
Bankruptcy News.  The newsletter tracks the chapter 11 proceedings
and the ancillary proceedings undertaken by Compania Mexicana de
Aviacion and its units.  (http://bankrupt.com/newsstand/or
215/945-7000).


MEXICANA AIRLINES: Tenedora K, Pilots' Union Acquire Airline
------------------------------------------------------------
A group of Mexican investors has acquired a controlling stake in
a holding company that controls Compania Mexicana de Aviacion,
S.A. de C.V., according to The Wall Street Journal.

The group which calls itself Tenedora K has bought a 95% stake in
Nuevo Grupo Aeronautico SA de CV, which controls Mexicana
Airlines and the domestic airlines Mexicana Click and Mexicana
Link.  The remaining 5% of shares will be held by the pilots'
union, the report said.

U.S. private equity firm Advent International Corp., who was
cited last week as one of the investor groups interested in
acquiring Mexicana, helped put the deal together but is not
participating as a shareholder in the consortium, according to
Reuters.

Tenedora K was formed by a group of Mexican businessmen to
capitalize the three airlines.  Grupo Industrial Omega, a
construction company, and Grupo Arizan, an insurance company, are
among the shareholders.

Tenedora K said the acquisition is a "first step" toward
restructuring Mexicana Airlines and that it will involve
agreements on finances, operations and labor needed to save the
company.  The group did not disclose how much it paid for the
controlling share or how much it would invest in the company, the
Journal reported.

However, Grupo Posadas SAB, Mexico's largest hotel operator and
Nuevo Grupo's principal shareholder, said it had sold its 30%
stake in Nuevo Grupo for a "symbolic" value, and that the
transaction was already written off by the company in December
2008, Bloomberg News reported.

Fernando Perfecto, the pilot union's secretary general, said the
price of the sale would be announced on August 25, according to a
report by Bloomberg News.

Mr. Perfecto further disclosed that Mexicana Chief Executive
Officer Manuel Borja Chico left his post on Aug. 20, and Tenedora
K named a new company director whose identity will be revealed on
August 25.

The Mexican Airline Pilots Association last week said it received
a concrete offer from Advent International for $49 million, which
was only half of what the airline's management said was needed to
maintain operations.  Moreover, Advent allegedly wanted to fly
only 30 airliners or 39 planes less than those at present.

Mexicana Airlines executives said earlier that the company needed
an infusion of at least $100 million to continue its operations.

Mexicana Airlines, Mexico's biggest airline, initiated a
voluntary judicial reorganization proceeding pursuant to the
Mexican Business Reorganization Act or Concurso Law in a Federal
Court in Mexico on August 2, 2010.  To protect its U.S. assets
from creditors, Mexicana also filed for Chapter 15 in New York.
Mexicana cited failed cost-saving agreements with labor unions as
the main reason for its insolvency petition.

                      About Mexicana Airlines

Compania Mexicana de Aviacion or Mexicana Airlines --
http://www.mexicana.com/-- is a privately held airline and a
subsidiary of Nuevo Grupo Aeronautico.  Founded in 1921, Mexicana
is the oldest commercial carrier in North America.  Charles
Lindbergh piloted the first trip for Mexicana between Brownsville,
Texas, and Mexico City.

Grupo Mexicana de Aviacion is the parent of Compania Mexicana. Two
other units are Aerovias Caribe S.A. de C.V. (Mexicana Click) and
Mexicana Inter S.A. de C.V. (Mexicana Link).

Compania Mexicana de Aviacion or Mexicana Airlines, Mexico's
largest airline, filed for bankruptcy in the U.S. and Mexico on
August 2, 2010.  In the U.S., the company filed in the U.S.
Bankruptcy Court in Manhattan for Chapter 15 bankruptcy protection
(case no. 10-14182), and in Mexico, it filed for the equivalent of
Chapter 11.

Maru E. Johansen, foreign representative of Compania Mexicana,
estimated in the Chapter 15 petition that the company has assets
of US$500 million to US$1 billion and debts of more than
US$1 billion.  William C. Heuer, Esq., at Duane Morris LLP, serves
as counsel to Ms. Johansen.

Mexicana de Aviacion stated that despite its bankruptcy filing, it
expects to continue to operate normally, and that such filings

Bankruptcy Creditors' Service, Inc., publishes Mexicana Airlines
Bankruptcy News.  The newsletter tracks the chapter 11 proceedings
and the ancillary proceedings undertaken by Compania Mexicana de
Aviacion and its units.  (http://bankrupt.com/newsstand/or
215/945-7000).


MEXICANA AIRLINES: Union Negotiations Make Headway
--------------------------------------------------
Nuevo Grupo Aeronautico or "Grupo Mexicana" disclosed that it has
made considerable progress in its talks with its pilots' (ASPA)
and flight attendants' (ASSA) unions.

In an official statement, Grupo Mexicana reported on the progress
of the negotiations aimed at securing the financial viability of
Mexicana Airlines and guaranteeing its continued existence.

According to the statement, during talks with union
representatives, Grupo Mexicana said that it is willing to accede
to these measures, which would take effect immediately:

  1. Pilots and flight attendants would be entitled to a share
     of the capital stock of Grupo Mexicana -- the holding for
     Mexicana Airlines, MexicanaClick and MexicanaLink -- and
     related companies like MexicanaLoyalty and MexicanaMRO,
     proportionate to contributions made to the company by
     unions in their collective labor contracts.

  2. A complementary investment group would be invited on board
     to provide Mexciana Airlines with the capital injection it
     needs to continue operating and secure its financial
     viability.  This group would also be entitled to a share of
     the company's capital stock.  Prospective investors are
     currently being sought out.

  3. Stockholders would be willing to dilute their share
     participation as necessary to save Mexicana Airlines, which
     serves some 11 million passengers a year, and the
     livelihoods of the group's 8,000-plus employees.

Grupo Mexicana acknowledged that its employees are vital to a
long-term solution and assured that it would extend to them its
support and solidarity.

Given the airline's cash flow problems and precarious financial
situation, time will be a determining factor, the company
statement said.  However, the fact that the company's unions have
agreed to revise collective contracts in the interests of cost
efficiency is a major step toward financial viability that will
benefit not only employees and passengers in the long term, but
Mexico's commercial aviation industry in general.

"Grupo Mexicana would like to make it known that each and every
one of its employees, both unionized and non-unionized, are
making unprecedented sacrifices to ensure passengers booked on
flights reach their destinations," disclosed the statement.

                  ASPA/ASSA: Mexicana Shareholders

Starting this month, both the ASPA and ASSA have become
shareholders of Compania Mexicana de Aviacion, S.A. de C.V.,
reports Xinhua News Agency.

The Unions also temporarily agreed that airline staff could
resume work at a flat rate of 10,000 pesos, around $833.33, every
two weeks, regardless of their responsibilities in the firm, says
the report.

Local media reported Wednesday that Mexicana agreed to put 27
Airbus airliners on lease and lower the fleet size to 42,
according to Xinhua.

More than 500 of the airline's pilots and flight attendants
demonstrated inside Mexico City's airport on Aug. 1 to protest
possible layoffs or pay cuts.

                      About Mexicana Airlines

Compania Mexicana de Aviacion or Mexicana Airlines --
http://www.mexicana.com/-- is a privately held airline and a
subsidiary of Nuevo Grupo Aeronautico.  Founded in 1921, Mexicana
is the oldest commercial carrier in North America.  Charles
Lindbergh piloted the first trip for Mexicana between Brownsville,
Texas, and Mexico City.

Grupo Mexicana de Aviacion is the parent of Compania Mexicana. Two
other units are Aerovias Caribe S.A. de C.V. (Mexicana Click) and
Mexicana Inter S.A. de C.V. (Mexicana Link).

Compania Mexicana de Aviacion or Mexicana Airlines, Mexico's
largest airline, filed for bankruptcy in the U.S. and Mexico on
August 2, 2010.  In the U.S., the company filed in the U.S.
Bankruptcy Court in Manhattan for Chapter 15 bankruptcy protection
(case no. 10-14182), and in Mexico, it filed for the equivalent of
Chapter 11.

Maru E. Johansen, foreign representative of Compania Mexicana,
estimated in the Chapter 15 petition that the company has assets
of US$500 million to US$1 billion and debts of more than
US$1 billion.  William C. Heuer, Esq., at Duane Morris LLP, serves
as counsel to Ms. Johansen.

Mexicana de Aviacion stated that despite its bankruptcy filing, it
expects to continue to operate normally, and that such filings

Bankruptcy Creditors' Service, Inc., publishes Mexicana Airlines
Bankruptcy News.  The newsletter tracks the chapter 11 proceedings
and the ancillary proceedings undertaken by Compania Mexicana de
Aviacion and its units.  (http://bankrupt.com/newsstand/or
215/945-7000).


MIG INC: Wins Court Approval Of Disclosure Statement
----------------------------------------------------
Bankruptcy Law360 reports that a federal judge has approved MIG
Inc.'s disclosure statement, paving the way for the Company to
solicit votes on a Chapter 11 plan that would help it pay out a
$188 million judgment stemming from litigation over a post-merger
appraisal.

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware signed off on MIG's second amended disclosure statement,
procedures for soliciting and tabulating votes, and applicable
deadlines, according to Law360.

                           About MIG Inc.

Based in Charlotte, North Carolina, MIG Inc. (PINK SHEETS: MTRM,
MTRMP) -- http://www.metromedia-group.com/-- through its wholly
owned subsidiaries, owns interests in several communications
businesses in the country of Georgia.  The Company's core
businesses include Magticom Ltd., a mobile telephony operator
located in Tbilisi, Georgia, Telecom Georgia, a long distance
telephony operator, and Telenet, which provides Internet access,
data communications, voice telephony and international access
services.

MIG, Inc., fka Metromedia International Group, Inc., filed for
Chapter 11 bankruptcy protection on June 18, 2009 (Bankr. D. Del.
Case No. 09-12118).  Scott D. Cousins, Esq., at Greenberg Traurig
LLP assists the Company in its restructuring efforts.  Debevoise &
Plimpton LLP is the Company's special corporate counsel, while
Potter Anderson & Corroon LLP is the Company's special litigation
counsel.  The official committee of unsecured creditors of MIG,
Inc., has retained Baker & McKenzie LLP as its bankruptcy
counsel, nunc pro tunc to June 30, 2009.

In its petition, the Company said it had US$100 million to
US$500 million in assets and US$100 million to US$500 million in
debts.  In its formal schedules, the Company said it had assets of
$54,820,681 against debts of $210,183,657.


NEC HOLDINGS: Gores Group Buys Assets for $150 Million
------------------------------------------------------
Bankruptcy Law360 reports that a federal bankruptcy judge signed
off Monday on the $150 million sale of National Envelope Corp.'s
assets to the Gores Group LLC -- a private equity firm and
stalking horse bidder -- after the lingering objections of
lenders, insurance companies and municipalities were resolved.

Law360 says Judge Peter J. Walsh of the U.S. Bankruptcy Court for
the District of Delaware gave final approval to the sale to NEV
Holdings LLC, an affiliate of Gores.

                          About NEC Holdings

Uniondale, New York-based National Envelope Corporation --
http://www.nationalenvelope.com/-- is the largest manufacturer of
envelopes in the world with 14 manufacturing facilities and 2
distribution centers and approximately 3,500 employees in the U.S.
and Canada.  The company is an environmental leader in the paper
and envelope converting industries with certifications from the
Forest Stewardship Council (FSC), Rainforest Alliance, Sustainable
Forestry Initiative (SFI), Programme for the Endorsement of Forest
Certification (PEFC), Chlorine Free Products Association, and
Green Seal.

NEC Holdings Corp., together with affiliates, including National
Envelope Inc., filed for Chapter 11 on June 10, 2010 (Bankr. D.
Del. Lead Case No. 10-11890).  Kara Hammond Coyle, Esq., at Young
Conaway Stargatt & Taylor LLP, serves as bankruptcy counsel.
David S. Heller, Esq., at Josef S. Athanas, Esq., and Stephen R.
Tetro II, Esq., at Latham & Watkins LLP, serve as co-counsel.  The
Garden City Group is the claims and notice agent.

NEC Holdings estimated in its Chapter 11 that its assets debts
range from $100,000,001 to $500,000,000.


NEFF CORP: Creditors Ask to File Papers Under Seal
--------------------------------------------------
Carla Main at Bloomberg News reports that the Official Committee
of Unsecured Creditors for Neff Corp. asked U.S. Bankruptcy Judge
Shelley C. Chapman to let it file under seal an "unredacted"
version of a motion asking for permission to prosecute lender
claims.  The final order on debtor-in-possession financing in the
bankruptcy case would release Neff from obligations to certain
lien holders and bar claims or challenges against the company.

                          About Neff Corp.

Privately held Neff Corp., doing business as Neff Rental, provides
construction companies, golf course developers, industrial plants,
the oil industry, and governments with reliable and quality
equipment that is delivered on time where it is needed.  With more
than 1,000 employees operating from branches coast to coast, Neff
Rental is ranked by Rental Equipment Register (RER) magazine as
one of the nation's 10 largest  equipment rental companies.

Neff Corp. and its units, including Neff Rental Inc. filed for
Chapter 11 on May 17, 2010 (Bankr. S.D.N.Y. Case No. 10-12610).

Based in Miami, Neff had assets of $299 million and debt of
$609 million as of the Petition Date, according to the disclosure
statement explaining the plan.  Funded debt totals $580 million.
Revenue in 2009 was $192 million.

Neff has selected an affiliate of Wayzata Investment Partners as
the successful bidder to sponsor its reorganization plan.  The
Plan provides (i) cash recoveries available to second lien lenders
of $73 million, (ii) payment in full in cash or right to
participate in a rights offering for up to $181.6 million for
first lien lenders.  The deadline to vote on Neff's Plan is
September 1, 2010, with Neff's confirmation hearing scheduled to
occur on September 14, 2010.


NEW LEAF: Delays Filing Form 10-Q for June 30 Quarter
-----------------------------------------------------
New Leaf Brands Inc. said it could not file its quarterly report
on Form 10-Q for the period ended June 30, 2010, with the
Securities and Exchange Commission because it requires additional
time to complete the auditor's review of its financial statements.

                       About New Leaf Brands

Scottsdale, Ariz.-based New Leaf Brands, Inc. develops, markets
and distributes healthy and functional ready-to-drink teas under
the New Leaf(R) brand.

The Company's balance sheet at March 31, 2010, revealed
$6.6 million in total assets, $6.1 million in total liabilities,
and $521,333 in stockholders' equity.

                           *     *     *

According to the Troubled Company Reporter on April 8, 2010, Mayer
Hoffman McCann P.C., in Phoenix, Ariz., expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that the Company has suffered
recurring losses from operations, has a working capital
deficiency, was not in compliance with certain financial covenants
related to debt agreements, and has a significant amount of debt
maturing in 2010.


NUMOBILE INC: Posts $808,400 Net Loss in Q2 Ended June 30
---------------------------------------------------------
NuMobile, Inc., filed its quarterly report on Form 10-Q, reporting
a net loss of $803,383 on $185,104 of revenue for the three months
ended June 30, 2010, compared with a net loss of $51,990 on $801
of revenue for the same period of 2009.

The increase in net loss is principally due to the loss on
conversion of debt to equity, increase in interest and financing
costs due to the increase in the notes payable outstanding
balance, the change in accrued derivative liability, and the
depreciation and amortization expense on purchased equipment and
intangibles.

The Company used cash for operations of $269,982 for the six
months ended June 30, 2010, has an accumulated deficit of
$11.3 million as of June 30, 2010, and has a working capital
deficit of $9.3 million as of June 30, 2010.

The Company's balance sheet at June 30, 2010, showed $4.5 million
in total assets, $9.5 million in total liabilities, and a
stockholders' deficit of $5.0 million.

As reported in the Troubled Company Reporter on April 12, 2010,
Gruber and Company, LLC, expressed substantial doubt about the
Company's ability to continue as a going concern after auditing
the Company's financial statements for the year ended December 31,
2009.  The independent auditors noted that the Company incurred a
net loss of $1.5 million, used cash for operations of $587,209 for
the year ended December 31, 2009, has an accumulated deficit of
$9.6 million as of December 31, 2009, and has a working capital
deficit of $9.0 million as of December 31, 2009.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?69c8

Louisville, Ky.-based NuMobile, Inc. (OTC BB: NUBL) currently
conducts its operations through its subsidiaries Enhance Network
Communications, Inc. and Stonewall Networks, Inc.  Enhance
provides a wide variety of services from infrastructure architect
to software as a service supplier.  Stonewall Networks has built
the Cornerstone Security Policy Manager.  Cornerstone, a
centralized IT security policy manager, is an engine for security
policy modeling, implementation, monitoring, enforcement, and
auditing.


OKLAHOMA FARM: A.M. Best Affirms 'bb' Issuer Credit Rating
----------------------------------------------------------
A.M. Best Co. has removed from under review with negative
implications and affirmed the financial strength rating of B
(Fair) and issuer credit rating of "bb" of Oklahoma Farm Bureau
Group and its members, Oklahoma Farm Bureau Mutual Insurance
Company and AgSecurity Insurance Company (all located in Oklahoma
City, OK).  The outlook for all ratings remains negative.

The group's ratings were previously downgraded and subsequently
placed under review following poor underwriting results in 2008
and 2009. (Please see press releases dated May 18 and August 21,
2009, and February 9, 2010).  At the time of the last downgrade in
February 2010, the ratings continued to remain under review, as
the group was in the process of seeking additional capital to
bolster its weakened capital position following net underwriting
losses, which totaled nearly $72 million for the full year 2009.
This was preceded by $64 million of net underwriting losses in
full-year 2008, due primarily to frequent and severe weather-
related events that mostly impacted its homeowners' book of
business.  Together, these events had led to a significant decline
in policyholders' surplus since year-end 2007, which has resulted
in significantly reduced risk-adjusted capitalization.

The latest rating action reflects Oklahoma Farm Bureau Group's
recent successful acquisition of additional capital in the form of
long-term surplus notes totaling nearly $25 million, as well as
the purchase of additional reinsurance protection in an effort to
stabilize its capital position.

While the above actions by the group have somewhat improved its
current surplus levels and have resulted in a moderate reduction
in its highly elevated underwriting leverage ratio, thereby
somewhat improving its risk-adjusted capitalization measures, the
rating outlook remains negative due to the group's ongoing
negative underwriting performance, primarily from frequent
weather-related losses, which continue to hinder its capital
position.


PHILADELPHIA NEWSPAPERS: Emergency Hearing on Pension Funds Deal
----------------------------------------------------------------
Bankruptcy Law360 reports that a federal judge on Monday granted
Philadelphia Newspapers LLC's request for an emergency hearing on
a settlement with a group of pension funds that, if approved, will
move the company closer to exiting bankruptcy.

Judge Stephen Raslavich of the U.S. Bankruptcy Court for the
Eastern District of Pennsylvania approved the company's motion for
an Aug. 26 hearing on the agreement, Law360 reports.

                   About Philadelphia Newspapers

Philadelphia Newspapers -- http://www.philly.com/-- owns and
operates numerous print and online publications in the
Philadelphia market, including the Philadelphia Inquirer, the
Philadelphia Daily News, several community newspapers, the
region's number one local Web site, philly.com, and a number of
related online products.  The Company's flagship publications are
the Inquirer, the third oldest newspaper in the country and the
winner of numerous Pulitzer Prizes and other journalistic
recognitions, and the Daily News.

Philadelphia Newspapers and its debtor-affiliates filed for
Chapter 11 bankruptcy protection on February 22, 2008 (Bankr. E.D.
Pa. Case No. 09-11204).  Mark K. Thomas, Esq., and Paul V.
Possinger, Esq., at Proskauer Rose LLP in Chicago, Illinois; and
Lawrence G. McMichael, Esq., Christie Callahan Comerford, Esq.,
and Anne M. Aaronson, Esq., at Dilworth Paxson LLP, in
Philadelphia, Pennsylvania, serve as bankruptcy counsel.  The
Debtors' financial advisor is Jefferies & Company Inc.  The Garden
City Group, Inc., serves as claims and notice agent.

Ben Logan, Esq., at O'Melveny & Myers LLP in Los Angeles,
California; and Gary Schildhorn, Esq., at Eckert Seamans Cherin &
Mellott, LLC in Philadelphia, represent the Official Committee of
Unsecured Creditors.  Fred S. Hodara, Esq., Abid Qureshi, Esq.,
and Alexis Freeman, Esq., at Akin Gump Strauss Hauer & Feld LLP in
New York, represent the Steering Group of Prepetition Secured
Lenders.

Philadelphia Newspapers estimated $100 million to $500 million in
both assets and debts its bankruptcy petition.


PLATINUM STUDIOS: Posts $565,700 Net Loss in Q2 Ended June 30
-------------------------------------------------------------
Platinum Studios, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $565,666 on $2.1 million of revenue for
the three months ended June 30, 2010, compared with a net loss of
$828,065 on $86,523 of revenue for the same period of 2009.

The Company has an accumulated deficit of $25.7 million as of
June 30, 2010.

The Company's balance sheet as of June 30, 2010, showed
$15.3 million in total assets, $24.1 million in total liabilities,
and stockholders' deficit of $8.8 million.

HJ Associates & Consultants, LLP, in Salt Lake City, Utah,
expressed substantial doubt about the Company's ability to
continue as a going concern, following its 2009 results.  The
independent auditors noted that the Company has suffered recurring
losses from operations which have resulted in an accumulated
deficit.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?69d5

Los Angeles, Calif.-based Platinum Studios, Inc., controls a
library consisting of more than 5,000 characters and is engaged
principally as a comics-based entertainment company adapting
characters and storylines for production in film, television,
publishing and all other media.


PRM REALTY: Morris Issues Delaying; Nov. 2 Extension Sought
-----------------------------------------------------------
PRM Realty Group, LLC, et al., ask the U.S. Bankruptcy Court for
the Northern District of Texas to extend their exclusive period to
file and solicit acceptances for the proposed Plan of
Reorganization until November 2, 2010, and January 5, 2011,
respectively.

The Debtors relate that they need additional time to resolve the
remaining issues in the related Morris debtor cases and the
reorganization of the related Morris debtors is assured.  Debtor
Peter R. Morris is president and chief executive officer of PRM.

                     About PRM Realty Group

Chicago, Illinois-based PRM Realty Group, LLC, filed for Chapter
11 bankruptcy protection on January 6, 2010 (Bankr. N.D. Tex. Case
No. 10-30241).  The Company's affiliates -- Peter R. Morris; Bon
Secour Partners, LLC; PM Transportation, LLC; Rangeline
Properties, LLC; PRS II, LLC; and Morris Radio Enterprises, LLC --
filed separate Chapter 11 bankruptcy petitions.  Gerrit M.
Pronske, Esq., at Pronske & Patel, P.C., assists PRM Realty in its
bankruptcy effort.  PRM Realty listed disclosed $34,054,818 in
total assets and $225,611,600 in total liabilities as of the
Petition Date.


PROFESSIONAL VETERINARY: Seeks Bankruptcy Protection
----------------------------------------------------
Professional Veterinary Products Ltd., sought Chapter 11
protection from creditors on August 20 in Omaha, Nebraska (Bankr.
D. Neb. Case No. 10-82436).

Closely held Professional Veterinary is a Nebraska-based
veterinary supply distributor.  It estimated assets and debts of
$50 million to $100 million in its Chapter 11 petition.

According to Bloomberg News, the Debtor blamed slumping sales in
the faltering economy for the filing.  Professional Veterinary
notified Pennsylvania officials last week that they would be
closing one of the company's facilities in York, Pennsylvania, and
laying off 31 employees, according to the Central Pennsylvania
Business Journal newspaper.

Officials of the Debtor are shopping the business around to
potential buyers, Cindy Christensen, a company spokeswoman, said
in an e-mailed statement to Bloomberg.

Affiliates ProConn and Exact Logistics also filed for Chapter 11.

The Debtors are represented by Robert J. Bothe of McGrath, North,
Mullin & Kratz.

"Prior to today 's filing, the Company evaluated a number of
options including an overall reorganization of its business
operations and sale of the business.  At this point, the Company
is pursuing a sale of substantially all of its assets pursuant to
Section 363 of the Bankruptcy Code under a Bankruptcy Court
supervised auction and sale process.  The Board of Directors and
Management believe that this course of action will be in the best
interests of all of the stakeholders and will maximize value for
all of the constituents," according to a corporate release
obtained by BankruptcyData.com

Professional Veterinary Products Ltd. is a Nebraska-based
veterinary supply distributor.


QUANTUM CORP: Belluzzo Family Trust Acquires 100,000 Shares
-----------------------------------------------------------
Quantum Corp. CEO Richard Belluzzo disclosed that the Belluzzo
Family Trust acquired 100,000 shares of the Company's common stock
on August 12.  Mr. Belluzzo serves as the trustee and may be
deemed to indirectly hold those shares.

                       About Quantum Corp.

Based in San Jose, California, Quantum Corp. (NYSE:QTM) --
http://www.quantum.com/-- is a storage company specializing in
backup, recovery and archive.  Quantum provides a comprehensive,
integrated range of disk, tape, and software solutions supported
by a world-class sales and service organization.

The company's balance sheet for June 30, 2010, showed $477.2
million in total assets, $216.8 million in total current
liabilities, and $351.0 million in total long-term liabilities,
resulting in $90.7 million stockholders' deficit.

                           *     *     *

Quantum Corp. continues to carry Standard & Poor's Ratings
Services' "B-" long-term issuer credit ratings.  As reported by
the Troubled Company Reporter on March 5, 2010, S&P revised its
outlook on Quantum Corp. to positive from negative.  S&P also
affirmed all its ratings on Quantum, including its 'B-' corporate
credit rating.

"The outlook revision is based on the strength of recent operating
trends, the prospect for stability despite the loss of EMC license
revenue, and solid headroom under performance covenants in the
company's bank loan agreements," said Standard & Poor's credit
analyst Lucy Patricola.

Quantum Corp. continues to carry Moody's "B3" long-term rating and
long-term corporate family rating and "Caa2" subordinated debt
rating.


QUANTUM CORP: Esber Trust Raises Stake to 125,000 Shares
--------------------------------------------------------
Edward M. Esber disclosed in a Form 4 filing that the Esber Family
Trust dated 12/14/87 acquired 10,000 shares of Quantum Corp.
common stock on August 12, raising its stake to 125,000 shares.
Mr. Esber is a director at Quantum Corp. and serves as trustee for
the Esber Family Trust.  He may be deemed to indirectly hold those
shares.

Based in San Jose, California, Quantum Corp. (NYSE:QTM) --
http://www.quantum.com/-- is a storage company specializing in
backup, recovery and archive.  Quantum provides a comprehensive,
integrated range of disk, tape, and software solutions supported
by a world-class sales and service organization.

The company's balance sheet for June 30, 2010, showed
$477.2 million in total assets, $216.8 million in total current
liabilities, $351.0 million in total long-term liabilities, and
$90.7 million in stockholders' deficit.

                           *     *     *

Quantum Corp. continues to carry Standard & Poor's Ratings
Services' "B-" long-term issuer credit ratings.  As reported by
the Troubled Company Reporter on March 5, 2010, S&P revised its
outlook on Quantum Corp. to positive from negative.  S&P also
affirmed all its ratings on Quantum, including its 'B-' corporate
credit rating.

"The outlook revision is based on the strength of recent operating
trends, the prospect for stability despite the loss of EMC license
revenue, and solid headroom under performance covenants in the
company's bank loan agreements," said Standard & Poor's credit
analyst Lucy Patricola.

Quantum Corp. continues to carry Moody's "B3" long-term rating and
long-term corporate family rating and "Caa2" subordinated debt
rating.


QUANTUM CORP: Nordea Investment Raises Equity Stake to 5.2%
-----------------------------------------------------------
Nordea Investment Funds S.A. disclosed that as of July 29, 2010,
it may be deemed to beneficially own 11,334,384 shares or roughly
5.2% of the common stock of Quantum Corp.

As reported by the Troubled Company Reporter on February 19, 2010,
Nordea disclosed that as of December 31, 2009, it may be deemed to
beneficially own 9,840,259 shares or roughly 4.6% of Quantum Corp.
common stock.

Based in San Jose, California, Quantum Corp. (NYSE:QTM) --
http://www.quantum.com/-- is a storage company specializing in
backup, recovery and archive.  Quantum provides a comprehensive,
integrated range of disk, tape, and software solutions supported
by a world-class sales and service organization.

The company's balance sheet for June 30, 2010, showed
$477.2 million in total assets, $216.8 million in total current
liabilities, $351.0 million in total long-term liabilities, and
$90.7 million in stockholders' deficit.

                           *     *     *

Quantum Corp. continues to carry Standard & Poor's Ratings
Services' "B-" long-term issuer credit ratings.  As reported by
the Troubled Company Reporter on March 5, 2010, S&P revised its
outlook on Quantum Corp. to positive from negative.  S&P also
affirmed all its ratings on Quantum, including its 'B-' corporate
credit rating.

"The outlook revision is based on the strength of recent operating
trends, the prospect for stability despite the loss of EMC license
revenue, and solid headroom under performance covenants in the
company's bank loan agreements," said Standard & Poor's credit
analyst Lucy Patricola.

Quantum Corp. continues to carry Moody's "B3" long-term rating and
long-term corporate family rating and "Caa2" subordinated debt
rating.


QUANTUM CORP: Private Capital Mgmt Reports 10.3% Equity Stake
-------------------------------------------------------------
Private Capital Management, L.P., disclosed that as of July 31,
2010, it may be deemed to beneficially own 22,242,977 shares or
roughly 10.3% of the common stock of Quantum Corp.

Based in San Jose, California, Quantum Corp. (NYSE:QTM) --
http://www.quantum.com/-- is a storage company specializing in
backup, recovery and archive.  Quantum provides a comprehensive,
integrated range of disk, tape, and software solutions supported
by a world-class sales and service organization.

The company's balance sheet for June 30, 2010, showed
$477.2 million in total assets, $216.8 million in total current
liabilities, $351.0 million in total long-term liabilities, and
$90.7 million in stockholders' deficit.

                           *     *     *

Quantum Corp. continues to carry Standard & Poor's Ratings
Services' "B-" long-term issuer credit ratings.  As reported by
the Troubled Company Reporter on March 5, 2010, S&P revised its
outlook on Quantum Corp. to positive from negative.  S&P also
affirmed all its ratings on Quantum, including its 'B-' corporate
credit rating.

"The outlook revision is based on the strength of recent operating
trends, the prospect for stability despite the loss of EMC license
revenue, and solid headroom under performance covenants in the
company's bank loan agreements," said Standard & Poor's credit
analyst Lucy Patricola.

Quantum Corp. continues to carry Moody's "B3" long-term rating and
long-term corporate family rating and "Caa2" subordinated debt
rating.


QUIKSILVER INC: Moody's Upgrades Corporate Family Rating to 'B2'
----------------------------------------------------------------
Moody's Investors Service upgraded Quiksilver Inc.'s Corporate
Family and Probability of Default Ratings to B2 from B3.  Moody's
also upgraded the rating on the company's $400 million Senior
Unsecured Notes to Caa1 from Caa2.  The company's Speculative
Grade Liquidity rating was affirmed at SGL-3.  The rating outlook
is positive.  The rating actions conclude the review for possible
upgrade that commenced on June 16, 2010.

These ratings were upgraded

* Probability of Default Rating, Upgraded to B2 from B3

* Corporate Family Rating, Upgraded to B2 from B3

* Senior Unsecured Regular Bond/Debenture, Upgraded to Caa1, LGD5,
  77% from Caa2, LGD5, 80%

The rating outlook is positive.

                         Ratings Rationale

The rating upgrade primarily reflects the deleveraging impact of
Quiksilver's exchange of $140 million of the outstanding principal
amount of its senior secured term loans for an aggregate of
approximately 31.1 million shares of its common stock at an
exchange price of $4.50 per share.  As a result of this exchange,
debt/EBITDA meaningfully improved from the mid-five times range
for the LTM period ending April 30, 2010 to just under five times
on a pro-forma basis.  The exchange will also result in a
meaningful reduction in interest expense for the company.  The
rating upgrade also reflects the company's improved earnings, with
operating income improving by more than 75% in the first half of
fiscal 2010, primarily due to higher gross margins as well as cost
controls.  The higher gross margins primarily reflect better
alignment of inventory levels with demand (resulting in fewer
markdowns) and Moody's believe that these recent improvements are
sustainable.

Quiksilver's B2 Corporate Family Rating reflects the company's
still high financial leverage with debt/EBITDA near five times
(incorporating Moody's standard analytical adjustments).  The
ratings also take into consideration that Quiksilver's product
range is generally sold at a relatively higher price point vis--
vis other apparel offerings.  As a result the company is
susceptible to a downturn in spending as consumers focus on value,
which is most evident in the recent weak performance of its Roxy
brand.  At the same time the ratings reflect Quiksilver's
significant global diversification with a majority of sales
generated outside of the United States as well as its ownership of
a portfolio of well known apparel and footwear brands.  The
company has adequate liquidity with high levels of cash on hand
and revolving credit availability, offset by the need to fund over
the next year significant required debt amortization payments in
Europe under current financial arrangements.

The positive outlook reflects Moody's expectation that the
company's credit metrics could improve further as it continues to
meaningfully deleverage its capital structure.

Ratings could be upgraded if Quiksilver continues to meaningfully
deleverage its capital structure while maintaining sales and
operating margin stability.  At the same time the company would
need to maintain a good overall liquidity profile.  Specifically,
ratings could be upgraded if debt/EBITDA approached 4.5 times and
EBITA/interest approached 1.75 times.

Ratings could be downgraded if leverage were to increase, or if
sales and operating margins began to materially erode.  Ratings
could also be downgraded if the company's liquidity were to become
constrained.  Quantitatively ratings could be downgraded if
debt/EBITDA approached 5.5 times or EBITA/interest coverage
approached 1.25 times.  If the company does not continue to
meaningfully delever and debt/EBITDA were sustained near 5.0 times
or EBITA/interest was sustained near 1.5 times, the rating outlook
could be revised to stable from positive.

The principal methodology used in rating Quiksilver, Inc. was
Global Apparel Industry rating methodology published in May 2010,
and Loss Given Default for Speculative-Grade Non-Financial
Companies in the U.S., Canada and EMEA published in June 2009.
Other methodologies and factors that may have been considered in
the process of rating this issuer can also be found on Moody's
website.

Headquarted in Huntington Beach, California Quiksilver is a
distributor of apparel and footwear brands including "Quiksilver",
"Roxy" and "DC".  Revenues for the LTM period ending April 30,
2010 are around $1.9 billion.


RADIENT PHARMACEUTICALS: Posts $29.3 Million Net Loss in Q2 2010
----------------------------------------------------------------
Radient Pharmaceuticals Corporation filed its quarterly report on
Form 10-Q, reporting a net loss of $29.3 million on $45,552 of
revenue for the three months ended June 30, 2010, compared with a
net loss of $8.1 million on $3.2 million of revenue for the same
period of 2009.

The Company deconsolidated its operations in China effective
September 29, 2009.  In connection with the deconsolidation, the
Company has reclassified its China pharmaceutical manufacturing
and distribution business as a business investment, rather than a
consolidated operating subsidiary of the Company.

The Company had an accumulated deficit of $84.3 million at
June 30, 2010.  In addition, the Company used cash in operating
activities of continuing operations of $4.6 million and had a
working capital deficit of $38.9 million based on the face amount
of the current portion of debt.

The Company's balance sheet as of June 30, 2010, showed
$27.1 million in assets, $32.3 million in total liabilities, and
stockholders' deficit of $5.2 million.

As reported in the Troubled Company Reporter on April 19, 2010,
KMJ Corbin & Company LLP, in Costa Mesa, Calif., expressed
substantial doubt about the Company's ability to continue as a
going concern, following its 2009 results.  The independent
auditors noted that the Company incurred a significant operating
loss and negative cash flows from operations in 2009 and had a
working capital deficit of $4.2 million at December 31, 2009.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?697f

Headquartered in Tustin, Calif., Radient Pharmaceuticals
Corporation -- http://www.Radient-Pharma.com/-- is engaged in the
research, development, manufacturing, sale and marketing of its
ONKO-SURE(TM) a proprietary IVD Cancer Test in the United States,
Canada, China, Chile, Europe, India, Korea, Taiwan, Vietnam and
other markets throughout the world.


RADIO ONE: Posts $2 Million Net Income in June 30 Quarter
---------------------------------------------------------
Radio One Inc. reported its results for the quarter ended June 30,
2010.  Net revenue was approximately $75.2 million, an increase of
7.6% from the same period in 2009.  Station operating income was
approximately $28.4 million, a decrease of 5.0% from the same
period in 2009.

The Company reported operating income of approximately $13.8
million compared to operating income of approximately $18.8
million for the same period in 2009.  Net income was approximately
$2.0 million compared to net income of approximately $7.2 million
for the same period in 2009.

Alfred C. Liggins, III, Radio One's CEO and President stated, "the
recovery in radio revenues continued in the second quarter, led by
national business, which was up 17.5%.  Our overall radio revenue
growth of 8.4% was in line with expectations, however as I
previously indicated we had upward pressure on the cost base,
driven by a combination of contractual increases, such as in PPM
fees, severance costs and non-cash compensation expenses.  Reach
Media made excellent progress with its in-house sales effort
during the second quarter, although revenues and EBITDA were both
adversely impacted by the lack of guaranteed revenues.  Our
internet business is growing strongly, with revenues up 48% from
the second quarter of 2009, and we continue to believe that our
on-line platform will be a major source of revenue and EBITDA
growth for the future.

The volatility in the credit markets has made our refinancing much
more complex than we could have anticipated when we started the
process.  While we have triggered certain defaults under the terms
of our credit facility, our business remains viable and we are
actively engaged in constructive dialogue with our lenders and
bondholders.  Our goal is to solve both for the defaults under the
credit facility and for our upcoming debt maturities in a manner
that permits the Company to maintain both strategic optionality
and operational flexibility."

The Company said it could not timely file its quarterly report on
Form 10-Q with the Securities and Exchange Commission.  The
Company said it is in the process of restating its consolidated
financial statements for the years ended Dec. 31, 2009, 2008 and
2007 and for each quarterly financial reporting period from Jan.
1, 2009 through March 31, 2010.  The Company is working diligently
to complete the restatement and its consolidated financial
statements for the Annual Restatement Periods and for the
Quarterly Restatement Periods.  However, the Company is unable to
complete this process and file its Form 10-Q for the quarter ended
June 30, 2010 on or before the prescribed due date of Aug. 16,
2010.

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?6972

                          About Radio One

Lanham, Maryland-based Radio One, Inc. (Nasdaq:  ROIAK and ROIA)
-- http://www.radio-one.com/-- is a diversified media company
that primarily targets African-American and urban consumers.  The
Company is one of the nation's largest radio broadcasting
companies, currently owning 53 broadcast stations located in 16
urban markets in the United States.

The Company owns a controlling interest in Reach Media, Inc. --
http://www.blackamericaweb.com/-- owner of the Tom Joyner Morning
Show and other businesses associated with Tom Joyner.  Beyond its
core radio broadcasting business, Radio One owns Interactive One
-- http://www.interactiveone.com/-- an online platform serving
the African-American community through social content, news,
information, and entertainment, which operates a number of branded
sites, including News One, UrbanDaily, HelloBeautiful, Community
Connect Inc. --http://www.communityconnect.com/-- an online
social networking company, which operates a number of branded Web
sites, including BlackPlanet, MiGente, and Asian Avenue and an
interest in TV One, LLC -- http://www.tvoneonline.com/-- a
cable/satellite network programming primarily to African-
Americans.

                           *     *     *

As reported by the Troubled Company Reporter on August 4, 2010,
Radio One management and the audit committee of the Company's
Board of Directors concluded that (i) it is necessary to restate
the Company's consolidated financial statements for the years
ended December 31, 2009, 2008 and 2007 and for each quarterly
financial reporting period from January 1, 2009 through March 31,
2010 and, (ii) the Company's consolidated financial statements and
any related reports of Ernst & Young LLP for these periods should
no longer be relied upon.  The restatement is solely the result of
an error of measurement and classification of a noncontrolling
interest in Reach Media, Inc. as presented on the consolidated
balance sheet and on the consolidated statement of changes in
stockholders' equity.  The effects of this error overstated
consolidated stockholders' equity and understated mezzanine equity
at the end of each reporting period by equal amounts. The
adjustment will not affect any previously reported financial
results in the consolidated statements of operations or
consolidated statements of cash flows for the Company, and, hence,
will not affect previously reported net income or earnings per
share.

As reported by the TCR, Wells Fargo Bank on July 15, 2010, agreed
to forbear from exercising certain rights and remedies under its
Senior Credit Facility with Radio One arising as a result of Radio
One's default of the maximum total leverage covenant, the default
of the requirement to provide written notice of such default, and
certain other defaults and events of default caused by the default
of the total leverage covenant.  The Forbearance Agreement was to
expire on 5:00 p.m., Eastern time, on August 13, 2010.

Wells Fargo tapped Loughlin Meghji + Company and Morgan, Lewis &
Bockius LLP in restructuring talks with Radio One, Inc.  Radio One
owes the lenders $355,480,159.99 under the Credit Agreement,
excluding fees, expenses and other amounts.  During the
Forbearance period, Radio One is required to pay interest on the
loan on a monthly basis, with the first payment due July 31.

As reported by the TCR on July 22, 2010, Standard & Poor's Ratings
Services revised the CreditWatch implications on its 'CCC+'
corporate credit rating for Radio One to developing from positive.
"The revised CreditWatch implications reflect delays and
uncertainty in the ultimate outcome of the company's proposal to
refinance its capital structure and acquire a controlling stake in
TV One LLC, an African-American targeted cable TV network,"
explained Standard & Poor's credit analyst Michael Altberg.  "If
the company succeeds in refinancing its capital structure, key
rating considerations for an upgrade will include pro forma
leverage, EBITDA coverage of interest, discretionary cash flow
generation, and the ownership structure of TV One.  S&P could
lower the rating if the company is unable to resolve its financing
needs prior to the end of its forbearance agreement, which expires
Aug. 13, 2010."


RCLC INC: Delays Filing of Form 10-Q for June 30 Quarter
--------------------------------------------------------
RCLC Inc., fka Ronson Corporation, said it could not file its
quarterly report on Form 10-Q for the period ended June 30, 2010,
with the Securities and Exchange Commission.

The Company has determined that additional time is required in
order to complete its Quarterly Report on Form 10-Q for its
quarter ended June 30, 2010, and the financial statements.  Due to
circumstances, the work necessary to complete the report could not
be accomplished in sufficient time to permit the filing on the due
date of Aug. 16, 2010, without unreasonable effort and expense.

The Company's sale of its aviation services business, which had
been expected to occur in the first quarter of 2010, was delayed
due to issues related to the purchaser's financing.  As a result,
the Company has sought other potential purchasers.  In addition,
because of the delays in the sale of the aviation services
business and the deterioration in the Company's financial
condition, the Company has been considering the possible filing
for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy
Code.

                          About RCLC Inc.

RCLC, Inc., formerly known as Ronson Corporation, in Woodbridge,
New Jersey, historically, has been engaged principally in these
businesses -- Consumer Products; and Aviation-Fixed Wing and
Helicopter Services.

Trenton, New Jersey-based Ronson Aviation, Inc., filed for Chapter
11 protection on August 17, 2010 (Bankr. D. N.J. Case No. 10-
35315).  The Debtor estimated its assets at $10 million to $50
million and its debts at $1 million to $10 million.  Affiliates
RCLC, Inc. (Bankr. D. N.J. Case No. 10-35313), and RCPC
Liquidating Corporation (Bankr. D. N.J. Case No. 10-35318) filed
separate Chapter 11 petitions on August 17, 2010, each estimating
their assets at $1 million to $10 million and debts at $1 million
to $10 million.

Michael D. Sirota, Esq., at Cole, Schotz, Meisel, Forman &
Leonard, assists the Debtors their restructuring effort.

The Company's foreign subsidiary, RCC, Inc., formerly known as
Ronson Corporation of Canada Ltd. is not included in the filing.


RED ROCKET: Wants Until December 16 to Propose Chapter 11 Plan
--------------------------------------------------------------
Red Rocket Fireworks, Inc., asks the U.S. Bankruptcy Court for the
Western District of Missouri to extend its exclusive period to
file a Chapter 11 Plan until December 16, 2010.

The Debtors filed their request for an extension before the
exclusive periods was set to expire on August 9.

The Debtor needs additional time to file objections to any
administrative claims that are in dispute and adjudicate them in
front of the Court if necessary.  The Court set September 17, as
the deadline for administrative creditors to file claims.

The Debtor is represented by:

     Raymond I. Plaster, Esq.
     RAYMOND I. PLASTER, P.C.
     2032 E. Kearney No. 107
     Springfield, MO 65803
     Tel: (417) 831-6900
     Fax: (417) 831-6901
     E-mail: riplaster@rip-pc.com

                     About Red Rocket Fireworks

Rock Hill, South Carolina-based Red Rocket Fireworks, Inc., filed
for Chapter 11 bankruptcy protection on December 11, 2009 (Bankr.
W.D. Mo. Case No. 09-62800).  Raymond I. Plaster, Esq., who has an
office in Springfield, Missouri, assists the Company in its
restructuring effort.  The Company estimated assets and debts at
$10 million to $50 million as of the Petition Date.


RITE AID: FMR, Fidelity Report 3.409% Equity Stake
--------------------------------------------------
Boston, Massachusetts-based FMR LLC and Edward C. Johnson 3d
disclosed in an August 10 regulatory filing that they may be
deemed to hold 30,229,700 shares or roughly 3.409% of the common
stock of Rite Aid Corp.

Fidelity Management & Research Company, a wholly owned subsidiary
of FMR LLC and an investment adviser registered under Section 203
of the Investment Advisers Act of 1940, is the beneficial owner of
30,000,000 -- or 3.383% -- of the Rite Aid shares.

                          About Rite Aid

Headquartered in Camp Hill, Pennsylvania, Rite Aid Corporation
(NYSE: RAD) -- http://www.riteaid.com/-- is the largest drugstore
chain on the East Coast and the third largest drugstore chain in
the U.S.  The Company operates more than 4,900 stores in 31 states
and the District of Columbia.

The Company's balance sheet at May 29, 2010, showed $8.0 billion
in total assets, $9.7 billion in total liabilities, and $1.7
billion in stockholders' deficit.

                           *     *     *

According to the Troubled Company Reporter on Aug. 11, 2010,
Moody's Investors Service assigned a B3 rating to Rite Aid
Corporation's proposed $650 million senior secured first lien
notes due 2020.  All other ratings including the company's Caa2
Corporate Family Rating, Caa2 Probability of Default Rating, and
SGL-3 Speculative Grade Liquidity rating were affirmed.  The
rating outlook is stable.

Standard & Poor's Ratings Services assigned its 'B+' issue rating
and '1' recovery rating to Rite Aid's proposed $650 million senior
secured notes.  The '1' recovery rating indicates S&P's
expectation for very high (90- 100%) recovery in the event of a
payment default.  At the same time, S&P affirmed all ratings on
the company, including the 'B-' corporate credit rating. The
outlook is stable.


RONSON AVIATION: Organizational Meeting to Form Panel on Aug. 26
----------------------------------------------------------------
Roberta A. DeAngelis, Acting United States Trustee for Region 3,
will hold an organizational meeting on August 26, 2010, at
11:00 a.m. in the bankruptcy case of Ronson Aviation, Inc.; RCLC,
Inc., fka Ronson Corporation; and RCPC Liquidating Corporation.
The meeting will be held at United States Trustee's Office, One
Newark Center, 21st Floor, Room 2106, Newark, NJ 07102.

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' cases.

The organizational meeting is not the meeting of creditors
pursuant to Section 341 of the Bankruptcy Code.  A representative
of the Debtor, however, may attend the Organizational Meeting, and
provide background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States
Trustee appoint a committee of unsecured creditors as soon as
practicable.  The Committee ordinarily consists of the persons,
willing to serve, that hold the seven largest unsecured claims
against the debtor of the kinds represented on the committee.
Section 1103 of the Bankruptcy Code provides that the Committee
may consult with the debtor, investigate the debtor and its
business operations and participate in the formulation of a plan
of reorganization.  The Committee may also perform other services
as are in the interests of the unsecured creditors whom it
represents.

Trenton, New Jersey-based Ronson Aviation, Inc., filed for Chapter
11 protection on August 17, 2010 (Bankr. D. N.J. Case No. 10-
35315).  Michael D. Sirota, Esq., at Cole, Schotz, Meisel, Forman
& Leonard, assists the Debtor in its restructuring effort.  The
Debtor estimated its assets at $10 million to $50 million and its
debts at $1 million to $10 million.

Affiliates RCLC, Inc. (Bankr. D. N.J. Case No. 10-35313), and RCPC
Liquidating Corporation (Bankr. D. N.J. Case No. 10-35318) filed
separate Chapter 11 petitions on August 17, 2010, each estimating
their assets at $1 million to $10 million and debts at $1 million
to $10 million.


RQB RESORT: Goldman Mortgage Denied Protective Order
----------------------------------------------------
Carla Main at Bloomberg News reports that in the Chapter 11 case
of RQB Resort LP and RQB Development LP, U.S. Bankruptcy Judge
Paul M. Glenn denied a renewed motion made by Goldman Sachs
Mortgage Co., a unit of Goldman Sachs Group Inc., seeking a
protective order.  Judge Glenn wrote that the denial was "without
prejudice to privileges and confidentiality of Goldman Sachs
Mortgage, which should be preserved and may be claimed."

According to the report, Goldman Sachs Mortgage asked the court to
issue an order prohibiting the Debtors from continuing the
deposition of Goldman Sachs Mortgage witnesses beyond the areas of
inquiry described in the Debtors' notice of deposition.  Goldman
Sachs Mortgage said the topic described in the notice of
deposition related to the company's valuation of property
underlying a $193 million loan.  Goldman Sachs Mortgage argued
that discovery beyond valuation that probed loan analysis methods
should be recognized for its "irrelevance and highly proprietary
nature," and therefore prohibited, it said in court papers.

                         About RQB Resort

RQB Resort LP and RQB Development LP own Florida's Sawgrass
Marriott Resort, the site of the U.S. PGA Tour's Tournament
Players Championship.

Ponte Vedra Beach, Florida-based RQB Resort, LP, aka Sawgrass
Marriott Resort & Cabana Club, filed for Chapter 11 bankruptcy
protection on March 1, 2010 (Bankr. M.D. Fla. Case No. 10-01596).
The Company's affiliate -- RQB Development, LP, aka Sawgrass
Marriott Golf Villas & Spa -- filed a separate Chapter 11
petition.  The Company estimated its assets and debts at
$100 million to $500 million in its Chapter 11 petition.


SAINT VINCENTS: Hearing on Exclusivity Extension Set for Sept. 16
-----------------------------------------------------------------
The Hon. Cecelia G. Morris of the U.S. Bankruptcy Court for the
Southern District of New York will consider on September 16, 2010,
at 11:00 a.m. (prevailing Eastern Time), Saint Vincents Catholic
Medical Centers' request for extension in its exclusive periods.
The hearing will be held at Room 701, Alexander Hamilton Custom
House, One Bowling Green, New York City.  Objections, if any, are
due on August 25, at 4:00 p.m.

The Debtors asked the Court to extend its exclusive period to file
and solicit acceptances for the proposed Chapter 11 plan until
December 10, and February 8, 2011, respectively.

St. Vincents Catholic Medical Centers returned to bankruptcy court
by filing another Chapter 11 petition April 14, 2010, in New York
(Bankr. S.D.N.Y. Case No. 10-11963).  The new petition listed
assets of $348 million against debt totaling $1.09 billion.

Adam C. Rogoff, Esq., and Kenneth H. Eckstein, Esq., at Kramer
Levin Naftalis & Frankel LLP, represent the Debtor in its Chapter
11 effort.

Although the hospitals emerged from the prior reorganization in
July 2007 with a Chapter 11 plan said to have a "a realistic
chance" of paying all creditors in full, the bankruptcy left the
medical center with more than $1 billion in debt.  The new filing
occurred after a $64 million operating loss in 2009 and the last
potential buyer terminated discussions for taking over the
flagship hospital.

Saint Vincents Catholic Medical Centers -- http://www.svcmc.org/
-- is anchored by St. Vincent's Hospital Manhattan, an academic
medical center located in Greenwich Village and the only emergency
room on the Westside of Manhattan from Midtown to Tribeca, St.
Vincent's Westchester, a behavioral health hospital in Westchester
County, and continuing care services that include two skilled
nursing facilities in Brooklyn, another on Staten Island, a
hospice, and a home health agency serving the Metropolitan New
York area.

Saint Vincent Catholic Medical Centers of New York and six of its
affiliates first filed for Chapter 11 protection on July 5, 2005
(Bankr. S.D.N.Y. Case No. 05-14945 through 05-14951).


SAINT VINCENTS: Judge Approves $94-Million Asset Sales
------------------------------------------------------
Bankruptcy Law360 reports that a bankruptcy judge has given
Saint Vincent Catholic Medical Centers the go-ahead on four asset
sales that have already garnered nearly $94 million in auction
bids.

Judge Celia J. Morris for the U.S. Bankruptcy Court for the
Southern District of New York signed off on Saint Vincent's
motions to approve the sales Friday, Law360 says.

            About Saint Vincent Catholic Medical Centers

Saint Vincent Catholic Medical Centers -- http://www.svcmc.org/--
is anchored by St. Vincent's Hospital Manhattan, an academic
medical center located in Greenwich Village and the only emergency
room on the Westside of Manhattan from Midtown to Tribeca, St.
Vincent's Westchester, a behavioral health hospital in Westchester
County, and continuing care services that include two skilled
nursing facilities in Brooklyn, another on Staten Island, a
hospice, and a home health agency serving the Metropolitan New
York area.  Its behavioral health services also provide supportive
housing programs for people with mental illness throughout the
Metropolitan area.  Saint Vincent's is the designated provider for
the New York and New Jersey region of the US Family Health Plan
sponsored by the US Department of Defense.  Saint Vincent's serves
as the academic medical center of New York Medical College in New
York City. The healthcare organization is sponsored by the Roman
Catholic Bishop of Brooklyn and the president of the Sisters of
Charity of New York.

Saint Vincent Catholic Medical Centers of New York and six of its
affiliates filed for Chapter 11 protection on July 5, 2005 (Bankr.
S.D.N.Y. Case No. 05-14945 through 05-14951).  Gary Ravert, Esq.,
and Stephen B. Selbst, Esq., at McDermott Will & Emery, LLP, filed
the Debtors' Chapter 11 cases.  On September 12, 2005, John J.
Rapisardi, Esq., at Weil, Gotshal & Manges LLP took over
representing the Debtors in their restructuring efforts.  Martin
G. Bunin, Esq., at Thelen Reid & Priest LLP, represented the
Official Committee of Unsecured Creditors.  As of April 30, 2005,
the Debtors listed $972 million in total assets and $1 billion in
total debts.  The Court confirmed the Debtors' Chapter 11 plan on
July 27, 2007.

St. Vincent Catholic Medical Centers and its affiliates returned
to the bankruptcy court by filing another Chapter 11 petition on
April 14, 2010 (Bankr. S.D.N.Y. Case No. 10-11963).  The new
petition listed assets of $348 million against debt totaling
$1.09 billion.  Adam C. Rogoff, Esq., and Kenneth H. Eckstein,
Esq., at Kramer Levin Naftalis & Frankel LLP, assist the Debtors
in their restructuring effort.  The Debtors' special counsel is
Garfunkel Wild, P.C., while their Crisis Management Team is led by
Grant Thornton LLP.  The Debtors' Chief Restructuring Officer is
Mark E. Toney.


SEA ISLAND: Asks Approval for $5 Million of DIP Financing
---------------------------------------------------------
Sea Island Company, et al., ask for authorization from the U.S.
Bankruptcy Court for the Southern District of Georgia to obtain
postpetition secured financing from a syndicate of lenders led by
Synovus Bank f/k/a Columbus Bank and Trust Company as
administrative agent.

The DIP lenders have committed to provide up to $5 million.  A
copy of the DIP financing terms is available for free at:

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

SIC, Coastal and Synovus Bank, formerly known as Columbus Bank &
Trust are parties to (a) the 2003 Bond Credit Agreement, and
(b) the 2001 Bond Credit Agreement, pursuant to which, inter alia,
Synovus agreed to issue letters of credit for the benefit of SIC
and Coastal.  In connection with the issuance of the Bond Letters
of Credit, SIC and Coastal issued certain variable rate notes and
agreed to reimburse Synovus for any drawings under the Bond
Letters of Credit.

Robert M. Cunningham, Esq., Gilbert, Harrell, Sumerford &
Martin, P.C., explains that the Debtors need the money to fund
their Chapter 11 case, pay suppliers and other parties.

The DIP facility will mature on (i) February 1, 2011; (ii) the
substantial consummation of a plan of liquidation; (iii) the
closing of any sale of all or substantially all of the Debtors'
assets; or (iv) the acceleration of the loan and the termination
of the commitment in accordance with the DIP Agreement.

The DIP facility will incur interest at LIBOR Rate plus 10% with a
LIBOR Rate floor equal to 2%.  The default interest rate is the
otherwise applicable interest rate plus 5%.

Subject to the carve-out, all obligations under the DIP Facility
will, at all times: (i) be entitled to super-priority claim status
in the Chapter 11 cases; (ii) be secured by a perfected first
priority lien on all unencumbered property and assets of the
Debtors; (iii) be secured by a perfected junior lien on all
property and assets of the Debtors that are subject to valid and
perfected liens in existence at the time of the commencement of
the chapter 11 cases or to valid liens in existence at the time of
such commencement; and (iv) be secured by a perfected first
priority, senior priming lien on all the property of the Debtors
of any kind (other than Avoidance Actions), senior to the liens
that secure the obligations of the Debtors under the Pre-Petition
Loan Documents (the Primed Liens).

The Debtors are required to pay a host of fees, including $250,000
origination fee and a 1% per annum unused commitment fee.

St. Simons Island, Georgia-based Sea Island Company --
http://www.seaisland.com/-- aka Sea Island Shooting School, Sea
Island Yacht Club, Sea Island Stables, and Cabin Bluff, is a
private resort and real estate development company founded in
1926.  Sea Island Company owns and operates Sea Island Resorts,
featuring two of the world's most exceptional destinations: the
Forbes Five-Star Cloister at Sea Island and The Lodge at Sea
Island.  Sea Island is filing a Chapter 11 plan based upon an
agreement to sell substantially all of its assets to Sea Island
Acquisition LP, a limited partnership formed by investment funds
managed by the global investment firms Oaktree Capital Management,
L.P., and Avenue Capital Group.

Sea Island filed for Chapter 11 protection on August 10, 2010
(Bankr. S.D. Ga. Case No. 10-21034).  Sarah R. Borders, Esq.;
Harris Winsberg, Esq.; Sarah L. Taub, Esq.; and Jeffrey R. Dutson,
Esq., at King & Spalding LLP, assists the Debtor in its
restructuring effort.  Robert M. Cunningham, Esq., at Gilbert,
Harrell, Sumerford & Martin PC, is the Debtor's co-counsel.  FTI
Consulting, Inc., is the Debtor's restructuring advisor.  EPIQ
Bankruptcy Solutions, LLC, is the Debtor's claims and notice
agent.  The Debtor estimated its assets and debts at $500 million
to $1 billion as of the Petition Date.

Affiliates Sea Island Coastal Properties, LLC; Sea Island
Services, Inc.; Sea Island Resort Residences, LLC; Sea Island
Apparel, LLC; First Sea Island, LLC; and Sical, LLC, filed
separate Chapter 11 petitions on August 10, 2010.


SEA ISLAND: Gets Court's Interim Nod to Use Cash Collateral
-----------------------------------------------------------
Sea Island Company sought and obtained interim authorization from
the U.S. Bankruptcy Court for the Southern District of Georgia to
use the cash collateral securing their obligation to their
prepetition lenders.

SIC, Coastal and Synovus Bank, formerly known as Columbus Bank &
Trust are parties to (a) the 2003 Bond Credit Agreement, and (b)
the 2001 Bond Credit Agreement, pursuant to which, inter alia,
Synovus agreed to issue letters of credit for the benefit of SIC
and Coastal.  In connection with the issuance of the Bond Letters
of Credit, SIC and Coastal issued certain variable rate notes and
agreed to reimburse Synovus for any drawings under the Bond
Letters of Credit.

Robert M. Cunningham, Esq., Gilbert, Harrell, Sumerford &
Martin, P.C., explains that the Debtors need the money to fund
their Chapter 11 case, pay suppliers and other parties.  The
Debtors will use the collateral pursuant to a budget, a copy of
which is available for free at:

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

In exchange for using the cash collateral, the Debtors propose to
grant the prepetition lenders first priority postpetition security
interests and liens.  To the extent that the replacement liens are
inadequate to compensate the Lenders for any diminution in value
of the Agent's and Lenders' collateral, the Agent and Lenders will
also have a priority claim.

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

                         About Sea Island

St. Simons Island, Georgia-based Sea Island Company --
http://www.seaisland.com/-- aka Sea Island Shooting School, Sea
Island Yacht Club, Sea Island Stables, and Cabin Bluff, is a
private resort and real estate development company founded in
1926.  Sea Island Company owns and operates Sea Island Resorts,
featuring two of the world's most exceptional destinations: the
Forbes Five-Star Cloister at Sea Island and The Lodge at Sea
Island.  Sea Island is filing a Chapter 11 plan based upon an
agreement to sell substantially all of its assets to Sea Island
Acquisition LP, a limited partnership formed by investment funds
managed by the global investment firms Oaktree Capital Management,
L.P., and Avenue Capital Group.

Sea Island filed for Chapter 11 protection on August 10, 2010
(Bankr. S.D. Ga. Case No. 10-21034).  Sarah R. Borders, Esq.;
Harris Winsberg, Esq.; Sarah L. Taub, Esq.; and Jeffrey R. Dutson,
Esq., at King & Spalding LLP, assists the Debtor in its
restructuring effort.  Robert M. Cunningham, Esq., at Gilbert,
Harrell, Sumerford & Martin PC, is the Debtor's co-counsel.  FTI
Consulting, Inc., is the Debtor's restructuring advisor.  EPIQ
Bankruptcy Solutions, LLC, is the Debtor's claims and notice
agent.  The Debtor estimated its assets and debts at $500 million
to $1 billion as of the Petition Date.

Affiliates Sea Island Coastal Properties, LLC; Sea Island
Services, Inc.; Sea Island Resort Residences, LLC; Sea Island
Apparel, LLC; First Sea Island, LLC; and Sical, LLC, filed
separate Chapter 11 petitions on August 10, 2010.


SECUREALERT INC: D&Os Get Shares as Series D Dividend Payment
-------------------------------------------------------------
Officers and directors of SecureAlert, Inc., disclosed in separate
filings with the Securities and Exchange Commission on August 10
that they acquired additional shares of common stock in the
company:

     -- CEO David G. Derrick acquired 418,888 shares, raising his
        stake to 6,462,358 shares.  He directly holds those
        shares;

     -- Chad Olsen, the Company's chief financial officer and
        secretary, acquired 27,854 shares, raising his stake to
        299,287 shares.  He directly holds those shares;

     -- Lawrence G. Schafran, a company director, acquired 17,813
        shares, raising his stake to 139,219 shares.  He directly
        holds those shares;

     -- director Robert Childers acquired 8,097 shares, raising
        his stake to 561,701 shares.  He directly holds those
        shares; and

     -- director David Patrick Hanlon acquired 18,623 shares,
        raising his stake to 145,827 shares.  He directly holds
        those shares.

The shares were acquired on July 10.  The shares were granted to
the officers and directors in lieu of payment of cash dividends on
Series D Preferred Stock they held.

                      About SecureAlert Inc.

Headquartered in Sandy, Utah, SecureAlert, Inc. (formerly
RemoteMDx, Inc.) (OTC BB: SCRA) -- http://www.securealert.com/--
markets and deploys offender management programs, combining
patented GPS (Global Positioning System) tracking technologies,
full-time 24/7/365 intervention-based monitoring capabilities and
case management services.

As reported in the Troubled Company Reporter on January 18, 2010,
Hansen, Barnett & Maxwell, P.C., in Salt Lake City, expressed
substantial doubt about RemoteMDx, Inc., and subsidiaries' ability
to continue as a going concern after auditing the Company's
consolidated financial statements for the years ended September
30, 2009, and 2008.  The independent public accounting firm
reported that the Company has incurred losses and has an
accumulated deficit.

The Company's balance sheet as of June 30, 2010, showed $12.3
million in total assets, $8.5 million in total liabilities, and
stockholders' equity of $3.9 million.

The Company said in its quarterly report on Form 10-Q for the
period ended June 30, 2010, that if it is unable to increase cash
flows from operating activities or obtain additional financing, it
will be unable to continue the development of its products and may
have to cease operations.


SEITEL INC: S&P Raises Corporate Credit Rating to 'CCC+'
--------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Seitel Inc. to 'CCC+' from 'CCC'.  The outlook is
developing.  At the same time, S&P raised the issue-level rating
on the company's senior unsecured notes to 'CCC+' (the same as the
corporate credit rating) from 'CCC', and the recovery rating
remains unchanged at '4'.  As of June 30, 2010, Houston-based
Seitel had roughly $420 million in total adjusted debt including
Standard & Poor's adjustments for operating leases and accrued
interest.

The upgrade on Seitel reflects the continued recovery of the North
American oilfield service market and stronger liquidity position
and debt leverage measures.  Seitel's cash EBITDA has increased
from less than $10 million in the first half of 2009 to more than
$40 million in the first half of 2010, largely due to the
increasing natural gas rig count.  The improved financial
performance has enhanced the company's liquidity position such
that after its August interest payment of about $19 million, the
cash balances were still more than $30 million.

Still, industry conditions remain uncertain heading into 2011 and
historically have been volatile.  The current activity level may
not hold because many of the leasehold drilling requirements will
taper off in 2011 and many E&P companies are less well hedged.  If
gas prices remain weak, that could result in less spending by E&P
companies which would weigh on Seitel's profitability profile.

S&P could raise the rating if financial performance remains near
current levels and the company is able to maintain adequate
liquidity to fund its February 2011 interest payment.  S&P remains
highly concerned about the possibility of a decline in natural gas
drilling activity into 2011 that could quickly lead to much lower
cash flows, which would likely drain the company's current
liquidity levels.  If this occurs, S&P could consider a negative
rating action.


SINCLAIR BROADCAST: Secretary Smith Acquires 64,000 Shares
----------------------------------------------------------
Sinclair Broadcast Group Inc. director and secretary, J. Duncan
Smith, disclosed acquiring 64,000 shares of the Company's class B
common stock on August 2, 2010, at $1.455 a share.  The
transaction raised his stake to 9,064,000 shares.  He directly
holds those shares.

According to his Form 4 filing, the shares were reacquired from
the MECG 2009 Children's GRAT of J. Duncan Smith, Dyson Ehrhardt,
Trustee, dated July 23, 2009, in satisfaction of the GRAT's
annuity obligation.  Mr. Smith also directly owns 5,871.379638
shares of Common Stock held by a 401k Plan.

As of July 26, 2010, 49,349,586 shares of the Company's Class A
Common Stock, and 30,977,859 shares of its Class B Common Stock
remain outstanding.

                     About Sinclair Broadcast

Based in Baltimore, Maryland, Sinclair Broadcast Group, Inc.
(Nasdaq: SBGI) -- http://www.sbgi.net/-- one of the largest and
most diversified television broadcasting companies, currently owns
and operates, programs or provides sales services to 58 television
stations in 35 markets.  The Company's television group reaches
roughly 22% of U.S. television households and includes FOX,
ABC, CBS, NBC, MNT, and CW affiliates.

The Company's balance sheet at June 30, 2010, showed $1.53 billion
in total assets, $1.71 billion in total liabilities, and
$170.36 million in stockholders' deficit.

                           *     *     *

As reported by the Troubled Company Reporter on August 9, 2010,
Moody's Investors Service upgraded its ratings for Sinclair
Broadcast Group, including the company's Corporate Family Rating
and Probability of Default Rating, both to B1 from B2, and the
ratings for the company's individual debt instruments.

Moody's believes that management may be looking to proactively
address its near-term maturities ($225 million of 8% senior
subordinated notes due 2012 and at least a portion of the 6%
convertible debentures due 2012) with a prospective refinancing
transaction, which if successfully completed could lend support to
such an additional upgrade of ratings.

The TCR also reported that Standard & Poor's Ratings Services
raised its corporate credit rating on Sinclair Broadcast Group to
'B+' from 'B' and removed it from CreditWatch, where it was placed
with positive implications on May 26, 2010.  The rating outlook is
positive.  "The 'B+' rating reflects S&P's expectation that
Sinclair will be able to reduce its leverage further by the end of
2010 through revenue and EBITDA growth and lower debt balances,"
explained Standard & Poor's credit analyst Deborah Kinzer.


SOMMET GROUP: Court Approves Creditors' Chapter 7 Petition
----------------------------------------------------------
Bankruptcy Law360 reports that a bankruptcy judge has approved a
petition for forced bankruptcy of Sommet Group LLC, putting the
former sponsor of the Nashville Predators' hockey arena on the
path to liquidation.

Judge Keith M. Lundin of the U.S. Bankruptcy Court for the Eastern
District of Tennessee on Friday approved the Chapter 7 petition.

As reported in the Troubled Company Reporter on July 30, 2010,
Sommet Group LLC was forced into Chapter 7 bankruptcy by three
creditors.  SCI Box LLC, Harvila Inc. and Landscape St. Lous Inc.
filed the involuntary Chapter 7 petition for the Debtor in the
U.S. Bankruptcy Court for the Middle District of Tennessee.

Prior to the filing, U.S. Resort Management Inc. sued the Company
in relation to the handling of money.  The lawsuit accused the
Company and managing partner Brian Whitfield of racketeering,
breach of fiduciary duty and fraud, according to the report.  The
Company and Mr. Whitfield had unpaid health insurance claims of
$776,000, and $2.1 million in unpaid medical and pharmacy claims
as of June 23, 2010.

Sommet Group provides various professional services.  It is the
former sponsor of the Nashville Predators' hockey arena.


SOUTHEAST TELEPHONE: Court Approves Chapter 11 Liquidating Plan
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Kentucky
confirmed SouthEast Telephone, Inc.'s Chapter 11 Liquidating Plan.

As reported in the Troubled Company Reporter on July 15, the
Debtor is slated for sale to Lightyear Network Solutions Inc.
under a reorganization plan.  Under the Plan, Lightyear will pay
$560,000 cash toward the costs of SouthEast's Chapter 11 case and
transfer 200,000 of its shares to SouthEast's existing equity
holders.  Lightyear will also assume $3.77 million in secured
debt.

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

                  About SouthEast Telephone, Inc.

Pikeville, Kentucky-based SouthEast Telephone, Inc., operates a
telecommunication business.  The Company filed for Chapter 11 on
Sept. 28, 2009 (Bankr. E.D. Ky. Case No. 09-70731).  Jamie L.
Harris, Esq., and Laura Day DelCotto, Esq., at Wise DelCotto PLLC,
represent the Debtor in its restructuring effort.  The Debtor
disclosed $15,573,655 in assets and $31,423,707 in debts.


SPONGETECH DELIVERY: Organizational Meeting Set for Aug. 25
-----------------------------------------------------------
Tracy Hope Davis, Acting United States Trustee for Region 2, will
hold an organizational meeting on August 25, 2010, at 11:00 a.m.
in the bankruptcy case of Spongetech Delivery Systems, Inc.  The
meeting will be held at the Office of the United States Trustee,
80 Broad Street, Fourth Floor, New York, NY 10004.

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' cases.

The organizational meeting is not the meeting of creditors
pursuant to Section 341 of the Bankruptcy Code.  A representative
of the Debtor, however, may attend the Organizational Meeting, and
provide background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States
Trustee appoint a committee of unsecured creditors as soon as
practicable.  The Committee ordinarily consists of the persons,
willing to serve, that hold the seven largest unsecured claims
against the debtor of the kinds represented on the committee.
Section 1103 of the Bankruptcy Code provides that the Committee
may consult with the debtor, investigate the debtor and its
business operations and participate in the formulation of a plan
of reorganization.  The Committee may also perform other services
as are in the interests of the unsecured creditors whom it
represents.

New York-based Spongetech Delivery Systems Inc. distributes a line
of hydrophilic polyurethane and polyurethane sponge cleaning and
waxing products.  Spongetech filed for Chapter 11 bankruptcy
protection on July 9, 2010 (Bankr. S.D.N.Y. Case No. 10-13647).
The Company estimated $10 million to $50 million in total assets
and $1 million to $10 million in total liabilities.  An affiliate,
Dicon Technologies, LLC, filed a separate Chapter 11 petition on
June 24, 2010 (Bankr. S.D.N.Y. Case No. 10-41275).

The Hon. Stuart M. Bernstein in July 2010 authorized Tracy Hope
Davis, the Acting U.S. Trustee for Region 2, to appoint a Chapter
11 trustee for Spongetech Delivery Systems, Inc.  The U.S. Trustee
sought permission from Judge Bernstein to appoint a Chapter 11
trustee or, in the alternative, convert the Debtor's Chapter 11
bankruptcy case to Chapter 7.

Edward Neiger, Esq., at Neiger, LLP, and M. David Graubard, Esq.,
at Kera & Graubard, assist the Debtors in their restructuring
efforts.


STEINWAY MUSICAL: S&P Gives Stable Outlook, Affirms 'B' Rating
--------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on Waltham,
Mass.-based Steinway Musical Instruments to stable from negative.
At the same time, S&P affirmed the 'B' corporate credit rating on
the company.

In addition, S&P affirmed the 'B+' issue-level rating on
Steinway's senior unsecured notes due 2014.  The recovery rating
is '2', which indicates S&P's expectation of substantial (70% to
90%) recovery for debt holders in the event of payment default.

"The outlook revision to stable from negative reflects
strengthened credit measures due to some profit recovery and debt
reduction over the past year, and S&P's expectation that Steinway
will be able to sustain these improved credit measures over the
near term," said Standard & Poor's credit analyst Jacqueline Hui.
Despite the improved credit measures, the 'B' rating on Steinway
reflects S&P's view of a highly leveraged financial risk profile
and favorable market position in a challenging musical instruments
industry, which S&P believes supports a fair business risk
profile.  Other factors include the company's somewhat narrow
product focus and geographical diversity.

Steinway's product sales and profitability remain concentrated in
pianos, although the company has a diverse portfolio of product
offerings in the band and orchestral instrument segment.  Piano
sales made up 59% and band instruments 41% of 2009 revenues.  The
company holds a dominant market share of the premium grand piano
market and is the leader in certain band instrument product
categories.  Steinway is internationally diversified, with about
49% of total 2009 sales outside of the U.S., and about 65% of
piano sales from international markets.

The outlook is stable.  S&P expects Steinway will be able to
maintain credit metrics reflective of the current rating category
in the near term given the company's lower cost structure.  S&P
could consider a downgrade if soft global economic conditions
persist and weaken the company's operating performance, or if
financial policy becomes aggressive, causing leverage to increase
above 7x.  S&P estimates EBITDA would need to decline 27%
(assuming debt levels do not materially change from current
levels) for leverage to rise to 7x.  Alternatively, S&P could
consider an upgrade, if sales growth and increased margins are
sustained, and credit measures are well above its rating category
medians.


TELTRONICS INC: Posts $3.2 Million Net Loss in June 30 Quarter
--------------------------------------------------------------
Teltronics Inc. reported its financial results for the three
months and six months ended June 30, 2010.

The second quarter results were significantly down from the same
period of 2009.  This was due in large part to a reduction in
orders from one of our largest customers.  Teltronics is one of
four vendors to this customer.  Last year Teltronics received a
higher percentage in comparison to the other vendors of the orders
for our 20-20 switching platform than we did this year.  These
were installed during the second and third quarters of 2009.
Although there is a significant reduction in orders this year,
scheduled deliveries of this year's orders are expected to take
place during the third quarter.  This customer continues to
purchase from Teltronics and Teltronics has long term maintenance
and support contracts with this customer.

Teltronics also recorded onetime costs and accruals in the second
quarter amounting to $1.9 million.  Due to the current temporary
down turn in business Teltronics also took the decision to further
reduce the work force and cut an additional $1.5 million from its
payroll.  These annualized savings will come into effect from the
middle of August.

Sales for the three months ended June 30, 2010 were $6.2 million,
as compared to $11.7 million reported for the same period in 2009.
Sales for the six months ended June 30, 2010 were $12.4 million,
as compared to $21.4 million for the same period in 2009.  Gross
profit margin for the three months ended June 30, 2010 was 29.0%
as compared to 43.2% for the same period in 2009.  Gross profit
margin for the six months ended June 30, 2010 was 37.6%, as
compared to 40.0% for the same period in 2009.

Operating expenses for the three months ended June 30, 2010 were
$2.7 million, as compared to $2.5 million for the same period in
2009.  Operating expenses for the six months ended June 30, 2010
were $5.7 million, as compared to $5.1 million for the same period
in 2009.

Net loss for the three months ended June 30, 2010 was $3.0 million
as compared to a profit of $2.2 million for the same period in
2009.  Net loss for the six months ended June 30, 2010 was $3.3
million as compared to a net profit of $2.7 million for the same
period in 2009.

Net loss available to common shareholders for the three months
ended June 30, 2010 was $3.2 million, as compared to a net profit
of $1.9 million for the same period in 2009.  Net loss available
to common shareholders for the six months ended June 30, 2010 was
$3.9 million as compared to a net profit of $2.2 million for the
same period in 2009.

The Company's balance sheet at June 30, 2010, showed $10.14
million in total assets, $14.43 million in total liabilities,
$4.24 million in total long-term liabilities, and $8.53 million in
shareholders' deficit.

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?697d

                      About Teltronics Inc.

Palmetto, Fla.-based Teltronics, Inc. (OTC BB: TELT)
-- http://ww.teltronics.com/-- designs, installs, develops,
manufactures and markets electronic hardware and application
software products, and engages in electronic manufacturing
services primarily in the telecommunication industry.

                           *     *     *

The Company's balance sheet at March 31, 2010 showed $10.1 million
in total assets, $10.6 million in total current liabilities,
$4.7 million in total long-term liabilities, and stockholders'
deficit of $5.3 million.


TENET HEALTHCARE: Completes $600 Million Senior Notes Offering
--------------------------------------------------------------
Tenet Healthcare Corporation successful completed the offering of
$600 million aggregate principal amount of 8% Senior Notes due
2020.  Tenet intends to use the net proceeds from the offering of
the notes to purchase a portion of its 7.375% Senior Notes due
2013 in a tender offer.  The notes were offered in a private
placement.

The notes have not been registered under the Securities Act of
1933 and may not be offered or sold in the United States absent
registration or an applicable exemption from registration
requirements.

                      About Tenet Healthcare

Dallas, Texas-based Tenet Healthcare Corporation (NYSE: THC) --
http://www.tenethealth.com/-- is a health care services company
whose subsidiaries and affiliates own and operate acute care
hospitals, ambulatory surgery centers and diagnostic imaging
centers.

                          *     *     *

As reported by the TCR on Aug. 5, 2010, Moody's Investors Service
affirmed its "B2" corporate family rating for Tenet.  The rating
reflects Moody's expectation that the Company will likely see
positive free cash flow for the full year ending December 31,
2010, as operating results continue to improve and litigation
settlement payments end in the third quarter.  However, the
ratings also consider the significant headwinds facing the
company, and the sector as a whole, with respect to increasing bad
debt expense, weak volume trends and changes in mix as commercial
volumes decline.

S&P's corporate credit rating on Tenet is 'B' and remains
unchanged.  The ratings agency noted that while the Company has
experience recent successes to date of a multiyear turnaround
effort, the Company has a still-weak business risk profile and
high financial leverage.


TENET HEALTHCARE: $781.5MM Tendered by Early Deadline
-----------------------------------------------------
Tenet Healthcare Corporation said, pursuant to the terms of its
cash tender offer to purchase up to $800 million aggregate
principal amount of its outstanding 7.375% senior notes due 2013,
$781.5 million aggregate principal amount of the outstanding notes
had been validly tendered prior to the expiration, Aug. 16, 2010.

The terms of the tender offer are contained in an offer to
purchase dated as of Aug. 3, 2010 and a related letter of
transmittal.  The tender offer will expire at 12:00 midnight on
Aug. 30, 2010, New York City time.

Holders of notes that were validly tendered prior to the early
tender time and that are accepted will receive total consideration
of $1,055 per $1,000 principal amount of notes, which includes an
early tender premium of $30 per $1,000 principal amount of notes,
plus any accrued and unpaid interest up to, but not including, the
settlement date.

Holders of notes that are validly tendered after the early tender
time, but prior to the expiration of the tender offer, and
accepted will receive the tender offer consideration of $1,025 per
$1,000 principal amount of notes, plus any accrued and unpaid
interest up to, but not including, the settlement date.  Holders
of notes tendered after the early tender time and accepted will
not receive an early tender premium.  Notes tendered after the
withdrawal deadline of 5:00 p.m., New York City time, on August
16, 2010 may not be withdrawn except as required by law.

The aggregate principal amount of the notes to be purchased will
be limited to $800 million. If the aggregate principal amount of
notes tendered exceeds the limit, any notes purchased will be
prorated pursuant to the terms of the offer to purchase.  Tenet
may amend, extend or terminate the tender offer in its sole
discretion.

                      About Tenet Healthcare

Dallas, Texas-based Tenet Healthcare Corporation (NYSE: THC) --
http://www.tenethealth.com/-- is a health care services company
whose subsidiaries and affiliates own and operate acute care
hospitals, ambulatory surgery centers and diagnostic imaging
centers.

                          *     *     *

As reported by the TCR on Aug. 5, 2010, Moody's Investors Service
affirmed its "B2" corporate family rating for Tenet.  The rating
reflects Moody's expectation that the Company will likely see
positive free cash flow for the full year ending December 31,
2010, as operating results continue to improve and litigation
settlement payments end in the third quarter.  However, the
ratings also consider the significant headwinds facing the
company, and the sector as a whole, with respect to increasing bad
debt expense, weak volume trends and changes in mix as commercial
volumes decline.

S&P's corporate credit rating on Tenet is 'B' and remains
unchanged.  The ratings agency noted that while the Company has
experience recent successes to date of a multiyear turnaround
effort, the Company has a still-weak business risk profile and
high financial leverage.


TRANSAX INT'L: Delays Filing of Form 10-Q for June 30 Quarter
-------------------------------------------------------------
Transax International Limited said it could not timely file its
quarterly report on Form 10-Q for the period ended June 30, 2010,
with the Securities and Exchange Commission.

The Company said it has not timely received financial information
from its operating subsidiary pertaining to business operations in
Brazil.  Therefore, management of the Company can not fully
complete the Company's consolidated financial statements.

Management deems it necessary that additional time be provided in
order to ensure that complete, thorough and accurate disclosure of
all material information is made in its Quarterly Report on Form
10-Q.  Management anticipates the filing of its Quarterly Report
on Form 10-Q within the extension period.

                   About Transax International

Transax International Limited -- http://www.transax.com/--
primarily through its 55% owned subsidiary, Medlink Conectividade
em Saude Ltda is an international provider of information network
solutions specifically designed for healthcare providers and
health insurance companies.  The Company's MedLink Solution
enables the real time automation of routine patient eligibility,
verification, authorizations, claims processing and payment
functions.  The Company has offices located in Plantation, Florida
and Rio de Janeiro, Brazil.  The Company currently trades on the
OTC Pink Sheet market under the symbol "TNSX" and the Frankfurt
and Berlin Stock Exchanges under the symbol "TX6".

                          *     *     *

As reported in the Troubled Company Reporter on April 21, 2010,
MSPC Certified Public Accountants and Advisors, P.C., in New York,
expressed substantial doubt about the Company's ability to
continue as a going concern.  The independent auditors noted that
the Company has accumulated losses from operations of roughly
$17.2 million, a working capital deficiency of roughly
$6.2 million and a stockholders' deficiency of roughly
$7.4 million at December 31, 2009.


TRIBUNE CO: Blue Lynx Media Opens Service Center in Texas
---------------------------------------------------------
Tribune Company announced that its new subsidiary, Blue Lynx Media
LLC, has opened a shared service center in Lewisville, Texas,
where it is expected to provide jobs for as many as 200 new
employees.

Blue Lynx Media will provide solutions for the parent company's
back-office operations.  Its goal is to standardize and centralize
certain administrative functions in order to minimize
transactional inefficiencies and establish a strategic advantage
in data analysis.  Blue Lynx Media will initially focus on
financial responsibilities and systems administration.

"Centralizing financial transactional processing in a low- cost
manner is key to Tribune gaining efficiencies," said Nick Cory,
president of Blue Lynx Media.  "In addition, the establishment of
a shared service center allows us to reallocate some of our
finance resources, enabling us to compete on analytics."

The company estimates that implementation of the shared service
center, utilizing simplified, standardized processes, will save
Tribune tens of millions annually.  Taking a fresh look at end-to-
end processes is a key component of that effort.

Blue Lynx Media will evaluate operations continuously as it looks
for efficiencies.  The transition of all financial transactions to
the Lewisville-based center will take place over the course of the
next 18 months.  Tribune selected ConVergence Office Campus in
Lewisville because of its value and location.  The City of
Lewisville provided personal property and workforce development
incentives to facilitate the deal.

                        About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on December 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austion LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North Americal LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of December 8, 2008, the Debtors have $7,604,195,000 in total
assets and $12,972,541,148 in total debts.

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


TRIMAS CORPORATION: Moody's Upgrades Corp. Family Rating to 'B2'
----------------------------------------------------------------
Moody's upgraded TriMas' CFR and PDR to B2 from B3.  TriMas'
speculative grade liquidity rating was maintained at SGL-3 and
reflects the company's adequate liquidity.  The rating on the
company's $90 million revolving credit facility, its $60 million
Synthetic LC and on its $253 million term loan was upgraded to Ba3
from B1.

Upgrades:

Issuer: TriMas Corporation

  -- Probability of Default Rating, Upgraded to B2 from B3

  -- Corporate Family Rating, Upgraded to B2 from B3

  -- Senior Secured Bank Credit Facility, Upgraded to Ba3, LGD2,
     25% from B1, LGD2, 26%

  -- Senior Secured Second Lien Notes, Upgraded to B3, LGD5, 74%
     from Caa1, LGD5, 75%

Affirmation:

  -- Speculative Grade Liquidity Rating, at SGL-3

                        Ratings Rationale

The company's ratings upgrade reflects the reported improvement in
the company's financials over the last twelve months and Moody's
belief that the company is well positioned to see further
improvement as global economic activity increases.  These
improvements, combined with recent debt repayment, have helped
strengthen the company's key credit metrics.  Specifically,
leverage and coverage metrics have improved as debt is repaid and
earnings grow.  Leverage, as measured by debt/EBITDA has improved
to 4.1x for the LTM June 2010 from 5.7x at the end of 2009.
Similarly, EBIT/interest coverage has improved to 1.8x on an LTM
basis from 1.0x at the end of 2009.  While these metrics have a
recent history of fluctuation, Moody's expects that positive GDP
growth will allow credit metrics to at least stabilize in line
with the B2 ratings level.

The company's SGL rating was affirmed at SGL-3 thereby indicating
Moody's view that the company has adequate liquidity.  Moody's
expects the company to be positive free cash flow in 2010 and
2011.  Additionally, the company's improved operating performance
has eased concern regarding the company's ability to meet its
covenants.

Although the company has been experiencing positive year-over-year
comparisons, a reversal of recent trends that are not offset with
successful cost containment, could negatively impact the ratings.
Adjusted debt to EBITDA above 6.2 times on a projected basis, or
EBITDA to interest dipping below 1.5 times, could pressure the
outlook and/or ratings.

An improvement in the company's coverage metrics, free cash flow
generation, revenue and EBITDA stability, and reduced leverage
ratios would be supportive of an improvement in the ratings and/or
outlook.  Specifically, adjusted debt to EBITDA below 4 times, and
EBITDA to interest coverage above 2.25 times could lead to
positive outlook or even support a higher rating.  Obtaining
further improvement in the covenant cushion level would be an
important consideration as part of any positive ratings action.

The last rating action was on December 16, 2009, when Moody's
rated TriMas' $250 million senior secured second lien notes Caa1,
affirmed the B3 CFR and changed the outlook to stable from
negative.

TriMas Corporation is a multi-industrial manufacturer.  The
Company is engaged in five business segments with diverse products
and market channels in packaging, energy, aerospace & defense, and
engineered components.  Last twelve months revenues through
June 30, 2010, totaled approximately $866 million.


UNIVERSAL BUILDING: Says Sale Must Proceed Before Funds Run Out
---------------------------------------------------------------
Universal Building Products, Inc., et al., responded to objections
by the U.S. Trustee and the Official Committee of Unsecured
Creditors to the assets sale.

The Creditors Committee has said that the Company's lender is
forcing a "hurried and condensed" bankruptcy process that
discourages would-be buyers from trying to best a $25 million bid
from the lender, private-equity firm Oaktree Capital Management
LP.  The Debtors intend to sell substantially all of their assets
to UBP Acquisition Corp., an entity formed by certain funds
managed by Oaktree and Solus Alternative Asset Management LP,
pursuant to Sec. 363 of the Bankruptcy Code.  The sale is subject
to higher and better offers.

The Debtor explained that (i) the scheduling of the sale is
appropriate under the circumstances; and (ii) it is willing to
consider a short extension of the deadlines but the overall
adjournment of the hearing until September 27, 2010, will not be
feasible because the secured creditor UPB Acquisition Corp. is not
willing to provide for an additional funding.

The secured creditor, according to Universal Building, articulated
that it is not willing to fund an open-ended Chapter 11 process
and it prefers to conduct an out of court foreclosure under the
Uniform Commercial Code.

The Debtor related that the Committee's objection will only derail
a process that is the only viable mechanism for certain unsecured
creditors to achieve any recovery.

Absent approval of the proposed DIP financing (including its
conditions regarding the bid procedures, the likely result is
lifting the automatic stay for the secured creditor, dismissal or
conversion to Chapter 7, and no recovery for priority creditors,
the Debtor tells the Court.

                     About Universal Building

Westminster, California-based Universal Building Products, Inc.,
dba UBP, filed for Chapter 11 bankruptcy protection on August 3,
2010 (Bankr. D. Del. Case No. 10-12453).  Mark Minuti, Esq.,
MaryJo Bellew, Esq., and Teresa K.D. Currier, Esq., at Saul Ewing
LLP, assists the Debtor in its restructuring effort.  UBP
estimated $1 million to $10 million in assets and $10 million to
$50 million in debts in its petition.

The Debtor's affiliates Accubrace, Inc. (Bankr. D. Del. Case No.
10-12454), Don De Cristo Concrete Accessories, Inc. (Case No. 10-
12455), Form-Co, Inc. (Case No. 10-12456), and Universal Form
Clamp, Inc. (Case No. 10-12457), filed separate Chapter 11
petitions on August 4, 2010.  Accubrace estimated $500,001 to
$1 million in assets and $10 million to $50 million in debts.


U.S. AEROSPACE: Delays Filing of Form 10-Q for June 30 Quarter
--------------------------------------------------------------
U.S. Aerospace Inc. said it could timely not file its quarterly
report on Form 10-Q for the period ended June 30, 2010, with the
Securities and Exchange Commission because it requires more time
to complete its financial statements.

                    About U.S. Aerospace, Inc.

U.S. Aerospace, Inc. -- http://www.USAerospace.com-- is a
publicly traded aerospace and defense contractor based in Southern
California.  The Company supplies aircraft assemblies, structural
components and highly-engineered, precision-machined details for
commercial and military aircraft.

                           *     *     *

The Company's balance sheet at March 31, 2010, showed $6.0 million
in total assets, $11.5 million in total liabilities, and a
stockholders' deficit of $5.4 million.


VHGI HOLDINGS: Posts $636,300 Net Loss in Q2 Ended June 30
----------------------------------------------------------
VHGI Holdings, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $636,270 on $193,609 of revenue for the
three months ended June 30, 2010, compared with a net loss of
$166,350 on $228,853 of revenue for the same period of 2009.

The increase in loss is primarily due to the increase in
consulting fees for 2010 incurred as the Company shifts the focus
into new industries.  In addition, there was a loss on settlement
of $101,053 recognized in the second quarter of 2010 which had not
been incurred in the second quarter of 2009.

During the three month period ending June 30, 2010, the Company
issued 1,527,251 shares in payment of debt, 5,000,000 shares for
mining claim leases held in escrow, 2,250,000 shares for payment
of services, and 4,212,154 shares for debenture conversion,
resulting in a loss on settlement amount of $124,628, before the
gain on sale of subsidiary of $23,576, or a net loss on settlement
amount of $101,053.

The Company's balance sheet as of June 30, 2010, showed
$3.3 million in total assets, $1.5 million in total liabilities,
and stockholders' equity of $1.8 million.

Pritchett, Siler & Hardy, P.C., in Salt Lake City, expressed
substantial doubt about VHGI Holdings, Inc.'s ability to continue
as a going concern after auditing the Company's financial
statements for the year ended December 31, 2009.  The independent
auditors noted that the Company has substantial losses and has a
working capital deficit.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?69bc

Lexington, Ky.-based VHGI Holdings, Inc. (OTC BB: VHGI) made the
transition in the first and second quarters of 2010 from a
healthcare technology company to a holding company, with both
operating subsidiaries and operating assets acquired in the
precious metals and energy resources industries.


VIASPACE INC: Posts $776,000 Net Loss in June 30 Quarter
--------------------------------------------------------
VIASPACE Inc. reported its financial results for the second
quarter ended June 30, 2010.  Total revenue for the quarter was
$764,000 and included $620,000 from Inter-Pacific Arts and
$136,000 from U.S. military contracts for security products with
the U.S. Navy and U.S. Army.  Total revenue for second-quarter
2009 was $1.47 million and included $1.28 million from IPA and
$188,000 from U.S. military contracts for security products.

For the quarter, cost of revenues was $524,000, compared to
$857,000 in second-quarter 2009. Gross profit for the quarter was
$240,000, compared to gross profit of $613,000 for second-quarter
2009.

Total operating expenses for the quarter were $1.002 million,
including $968,000 of selling, general and administrative expense
and $34,000 for operations.  SG&A included $501,000 in stock-based
compensation.  Total operating expenses for second-quarter 2009
were $1.227 million and included $1.218 million in SG&A and $9,000
for operations.  SG&A in second-quarter 2009 included $408,000 in
stock-based compensation. Operating loss for the quarter was
$762,000, compared to an operating loss of $614,000 in second-
quarter 2009.

Second-quarter 2010 other expense, net, was $14,000, compared to
other income, net, of $59,000 for second-quarter 2009.  Net loss
for the quarter was $776,000 compared to a net loss in second-
quarter 2009 of $555,000. Net loss for second-quarter 2010 was
less than $0.01 per share; net loss for second-quarter 2009 was
less than $0.01 per share.

VIASPACE Chief Executive Dr. Carl Kukkonen commented: "Second-
quarter results were affected by lower consumer spending, with
retailers' orders for artwork declining.  However, the impact of
lower revenues was partially mitigated by continuing control of
operating expenses, which remains a tactic to conserve resources
for commercialization of our renewable energy strategy."

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?696f

                        About VIASPACE Inc.

Irvine, Calif.-based VIASPACE Inc. (OTC Bulletin Board: VSPC -
News) -- http://www.VIASPACE.com/-- is a clean energy company
providing products and technology for renewable and alternative
energy that reduce or eliminate dependence on fossil and high-
pollutant energy sources.  Through its majority-owned subsidiary
VIASPACE Green Energy Inc., the Company grows Giant King Grass as
a low carbon fuel for electricity generating power plants and as a
feedstock for cellulosic biofuels.


WASHINGTON MUTUAL: Asks for Documents From Equity Committee
-----------------------------------------------------------
Washington Mutual Inc. asks the U.S. Bankruptcy Court to compel
the Official Committee of Equity Security Holders to produce
documents related to the deposition of certain WaMu officers in
connection with the adversary proceeding commenced by the Equity
Committee.

The Equity Committee commenced an adversary complaint to compel
Washington Mutual, Inc. to hold a shareholders' meeting and allow
the Equity Committee to nominate and elect a new board of
directors.

As previously reported, WaMu served the Equity Committee with
targeted requests for the production of documents and noticed the
deposition upon oral examination of each of its members,
consisting of these individuals:

* Michael Willingham
* Esopus Creek Value, LLC
* Tyson Matthews
* Kenneth I. Feldman
* Joyce M. Presnall
* Dorthea Barr
* Saul Sutton

According to Mark D. Collins, Esq., at Richards, Layton & Finger,
P.A., in Wilmington, Delaware, the Equity Committee has objected
to several of the requests for production of documents.  After
discussions, the parties resolved the Equity Committee's
objections, except its objection to the production of documents
concerning its members' financial ability to fund a proxy contest
for the election of the WaMu Board.

Despite its repeated statements that it seeks to complete as
quickly as possible discovery in the Adversary Proceeding, the
Equity Committee has failed to produce a single document,
Mr. Collins laments.

The Equity Committee asked WaMu to agree to a "confidentiality
agreement" before the production of the document requests,
according to Mr. Collins.  Yet, the confidentiality agreement
that the Equity Committee proposed was merely the agreement dated
May 7, 2010, which, among other things, would have required WaMu
to obtain the Equity Committee's written permission or seek leave
of Court before using the Equity Committee's document production
in any deposition.  "It was not an agreement used in any
litigation between [WaMu] and the Equity Committee and . . .
would have prejudiced [WaMu]," Mr. Collins explains.

The Equity Committee has failed to produce a single document to
which WaMu is entitled, Mr. Collins adds.  As a result, and
despite the fact that the Equity Committee suggests that WaMu is
unprepared for the depositions, it would be imprudent and waste
estate funds to take depositions at this time, the Debtors
assert.  Given the pendency of the Adversary Proceeding, however,
WaMu needs to complete discovery quickly, Mr. Collins says.

Unless the Equity Committee is directed promptly to complete its
production, WaMu will be prejudiced, Mr. Collins emphasizes.

                    Equity Committee Reacts

"There is utterly no justification for this intrusive request and
[WaMu] knows it," William P. Bowden, Esq., at Ashby & Geddes,
P.A., in Wilmington, Delaware, argues of the Debtors' request for
document production from the Equity Committee.

Mr. Bowden says the Document Production Motion "is a naked
attempt to gain an advantage through harassment, intimidation,
and delay . . . [by] forcing the individual members of the Equity
Committee to disclose confidential information about all of their
personal assets."

The Motion justifies that it seeks evidence about the Equity
Committee's ability to fund a proxy contest, but this
justification "is bogus because no proxy contest is necessary,"
Mr. Bowden tells the Court.

The relevance of the Requested Documents was eliminated when the
Equity Committee offered to stipulate that none of its members
would expend any of their personal assets on any proxy contest,
Mr. Bowden reminds the Court.  WaMu, however ignored this
proposal embodied in a Confidentiality Agreement and refused to
respond to it, he points out.

The Debtors' Motion is the latest in a string of actions that
WaMu has taken with the goal of delaying a shareholder meeting to
the point when it would become moot, Mr. Bowden comments.  These
"litigation tactics," he says, "are always obnoxious and
wasteful, but they deserve special condemnation in a major
bankruptcy when they impact thousands of creditors and
shareholders who are powerless bystanders."

"As the many creditors and shareholders following this bankruptcy
are well aware, the estate's resources are chips in a zero-sum
game and every dollar spent throwing procedural roadblocks in the
way of the Equity Committee is a dollar that will never be paid
to any Washington Mutual stakeholder, Mr. Bowden says.  "[Thus,]
this abusive and cynical course of conduct should not be
countenanced by the Court."

Edgar Sargent, Esq., at Susman Godfrey, L.L.P, in Seattle,
Washington, the Equity Committee's co-counsel, filed a
declaration in support of the Equity Committee's Objection.

                       About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The Company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over September 25 by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  Wamu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment estimated assets of
$500,000,000 to $1,000,000,000 with zero debts.

Peter Calamari, Esq., and David Elsberg, Esq., at Quinn Emanuel
Urquhart Oliver & Hedges, LLP, served as legal counsel to WMI with
responsibility for the litigation.  Brian Rosen, Esq., at Weil,
Gotshal & Manges LLP served as legal counsel to WMI with
responsibility for the Chapter 11 case.

Bankruptcy Creditors' Service Inc. publishes Washington Mutual
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Washington Mutual Inc. (http://bankrupt.com/newsstand/or
215/945-7000).


WASHINGTON MUTUAL: Examiner Wins Nod for McKenna Long as Counsel
----------------------------------------------------------------
Joshua R. Hochberg, the examiner appointed in the Chapter 11 cases
of Washington Mutual Inc. and WMI Investment Corp., won approval
to retain McKenna Long & Aldridge LLP as his counsel effective as
of July 26, 2010.

Mr. Hochberg avers that he is a partner in MLA, and has selected
MLA to serve as his principal counsel in the Debtors' cases
because of (1) the firm's experience in representing him as
examiner in the bankruptcy cases of Refco Inc. and DBSI, Inc.;
(2) the firm's recognized expertise in the field of creditors'
rights and business reorganizations under Chapter 11; and (3) the
firm's expertise and resources in various legal areas that will
be critical in the Debtors' cases.

As counsel to the Examiner, MLA is expected to:

  (a) take all necessary actions to assist and advise the
      Examiner with respect to the discharge of his duties and
      responsibilities under the Examiner Order and the
      Bankruptcy Code in the Debtors' cases;

  (b) assist the Examiner in preparing pleadings and
      applications as may be necessary in the discharge of the
      Examiner's duties;

  (c) represent the Examiner in preparing pleadings and
      applications as may be necessary in the discharge of the
      Examiner's duties;

  (d) represent the Examiner in any dealings he may have with
      various governmental and regulatory authorities;

  (e) represent the Examiner in any dealings he may have with
      the Debtors, Equity Committee, general creditors or any
      third party concerning matters related to the bankruptcy
      cases;

  (f) assist the Examiner in preparing his work plan and budget;

  (g) assist the Examiner in retaining and directing the work of
      investigative personnel;

  (h) assist the Examiner in preparing his report; and

  (i) perform all other necessary legal services and providing
      all other necessary legal advice to the Examiner in
      connection with the Debtors' cases.

MLA will be paid for its services at its standard hourly rates.
The principal attorneys in MLA's Bankruptcy, Creditor's Rights,
Banking and Litigation Groups who are expected to represent the
Examiner in the Debtors' cases and their hourly rates are:

        Philip D. Bartz              $700
        William L. Floyd             $615
        Daniel J. Carrigan           $575
        J. Michael Levengood         $495
        Henry F. Sewell, Jr.         $480
        Gregory S. Brow              $450
        Nicholas S. Sloey            $375
        Alison M. Elko               $335
        David E. Gordon              $320
        Claire Carothers             $285
        Carol Wagner                 $255
        Jeannie Johnson              $245
        Valerie Lam                  $240

In addition, MLA's representation of the Examiner may also
require the active participation of professionals from other
practice groups of the firm.  At present, the hourly rates for
the MLA professionals are:

        Partners                     $375 to $775
        Senior Counsel, Of counsel   $400 to $715
        Associates                   $220 to $490
        Legal Assistants             $85 to $260

Upon a review of the firm's database, Michael Levengood, a
partner at MLA, affirms that his firm, its partners, attorneys
and counsel do not have an interest materially adverse to the
interest of the Debtors and their creditors.

In a separate filing, the Examiner asks the Court to consider his
request on an expedited basis and seeks an August 10, 2010
hearing for the MLA Application.  The Examiner notes that given
the scope of the investigation he is to undertake and the
deadline for filing a work and expense plan, he has critical need
for the immediate services of his proposed counsel.

The Examiner notes that he will also be filing an application to
retain Cole, Schotz, Meisel, Forman & Leonard P.A. as his local
counsel in Delaware.

                       About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The Company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over September 25 by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  Wamu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment estimated assets of
$500,000,000 to $1,000,000,000 with zero debts.

Peter Calamari, Esq., and David Elsberg, Esq., at Quinn Emanuel
Urquhart Oliver & Hedges, LLP, served as legal counsel to WMI with
responsibility for the litigation.  Brian Rosen, Esq., at Weil,
Gotshal & Manges LLP served as legal counsel to WMI with
responsibility for the Chapter 11 case.

Bankruptcy Creditors' Service Inc. publishes Washington Mutual
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Washington Mutual Inc. (http://bankrupt.com/newsstand/or
215/945-7000).


WASHINGTON MUTUAL: Settles ERISA Litigation for $49 Million
-----------------------------------------------------------
Washington Mutual, Inc., asks the Bankruptcy Court to approve a
class action settlement agreement dated June 18, 2010, by and
among the defendants and plaintiffs, for themselves and on behalf
of all persons who were participants in or beneficiaries of the
WaMu Savings Plan, in the litigation captioned In re Washington
Mutual, Inc. ERISA Litigation pending in the U.S. District Court
for the Western District of Washington.

The ERISA Litigation, which is part of a multi-district
litigation pending before District Judge Marsha J. Pechman, is
comprised of nine separate putative class actions filed between
November 20, 2007 and March 24, 2008.  The Putative Class Actions
comprising the ERISA Litigation were transferred to the District
Court for coordinated or consolidated pretrial proceedings by
order of the Judicial Panel on Multidistrict Litigation.

The WaMu Savings Plan, as amended and restated, was a defined
contribution retirement plan intended to satisfy the requirements
of Section 401 of the Internal Revenue Code effective January 1,
2006.  Pursuant to an agreement regarding WaMu Savings Plan dated
June 16, 2009, between WaMu and JPMorgan Chase, N.A., JPMorgan
assumed sponsorship of the WaMu Savings Plan effective as of
August 6, 2009, and has since merged the WaMu Savings Plan with
JPMorgan's tax qualified savings plan.  Prior to August 6, 2009,
WaMu was the sponsor of the WaMu Savings Plan.

Plaintiffs in the ERISA Litigation filed on August 5, 2008, a
consolidated amended complaint for breaches of duty asserting
claims under the Employee Retirement Income Security Act of 1974,
as amended, for the WaMu Savings Plan's allegedly imprudent
investment in WaMu common stock during the period from
October 19, 2005 through September 26, 2008, against:

  (i) the members of the Human Resources Committee of the WaMu
      Board of Directors during some or all of the Class Period,
      including, but not limited to, Stephen I. Chazen, Stephen
      E. Frank, Charles M. Lillis, Phillip D. Matthews, Margaret
      Osmer McQuade, James H. Stever, and Willis B. Wood Jr., or
      the HRC Defendants;

(ii) the members of the Washington Mutual Plan Administration
      Committee or the Washington Mutual Plan Investment
      Committee for the WaMu Savings Plan during some or all of
      the Class Period, including, but not limited to, Todd
      Baker, Melissa Ballenger, David Beck, Curt Brouwer, Daryl
      David, Michelle McCarthy, Robert Williams, John Woods,
      Deborah Bedwell, John Berens, Tom Casey, Ron Cathcart,
      Michele Grau-Iverson, Pia Jorgensen, Suzanne Krahling,
      William Longbrake and Mike Amato, or the PAC/PIC
      Defendants; and

(iii) former defendants Kerry K. Killinger, Tony Meola and WaMu.

The District Court appointed Hagens Berman Sobol Shapiro LLP and
Keller Rohrback L.L.P. as Class Counsel in the ERISA Litigation.

As of the Petition Date, all claims against WaMu in the ERISA
Litigation were stayed pursuant to Section 362(a) of the
Bankruptcy Code.  Upon a stipulation in March 2009, the District
Court dismissed without prejudice all claims against Mr. Meola.
JPMorgan was also added as a defendant.  Subsequently, the
District Court dismissed all claims against Mr. Killinger and
JPMorgan Chase.

In connection with the ERISA Litigation, these Named Plaintiffs
filed proofs of claim in the Debtors' cases asserting
unliquidated claim amounts:

    Claimant                Claim No.
    --------                --------
    Dana Marra                 1001
    Marina Ware                1002
    Gregory Bushansky          1003

The Employee Claimants also filed Claim No. 999 for an
unliquidated amount, in their capacity as Plaintiffs in the ERISA
Litigation for, and on behalf of, themselves and the Settlement
Class.

The Debtors disputed the Employee Claims and the Class Claim.

                 The Settlement Agreement

In an effort to promptly and fully resolve and settle the
Employee Claims and the Class Claim with finality, the Parties
entered into a stipulation, which provides these salient terms:

  (a) For settlement purposes only and to effectuate the
      Settlement Agreement, the Named Plaintiffs have moved in
      the District Court for certification of a non-opt-out
      Settlement Class that consists of all Persons who were
      participants in or beneficiaries of the WaMu Savings Plan
      and whose individual WaMu Savings Plan accounts included
      investment in the Company Stock during the Class Period.

  (b) The Defendants, other than JPMorgan Chase, will cause the
      Contributing Blended Policy Carriers to pay $49 million in
      class settlement amount into an interest-bearing escrow
      account for distribution to members of the Settlement
      Class.

  (c) The Named Plaintiffs covenant (i) not to file against any
      Defendant any claim related to any Released Claim, and
      (ii) that the covenants and agreements set forth in the
      Settlement Agreement will be a complete defense to any
      claim.

  (d) The Defendants covenant and agree (i) not to file against
      the Plaintiff Releasees any claim related to any of the
      Plaintiffs' Released Claims, and (ii) that the covenants
      and agreements in the Settlement Agreement will be a
      complete defense to any claim.

          District Court Issues Preliminarily Approval

Judge Pechman entered an order on August 6, 2010, preliminarily
certifying the Settlement Class.  The District Court also
preliminarily appointed Gregory Bushansky, Dana Marra, and Marina
Ware as class representatives for the Settlement Class, and
Keller Rohrback L.L.P. and Hagens Berman Sobol Shapiro LLP as Co-
Lead Counsel for the Settlement Class.

Judge Pechman also entered a preliminary approval of the proposed
Settlement.

A Fairness Hearing is scheduled for November 5, 2010.

A copy of the District Court's order is available for free at:

http://www.leagle.com/unsecure/page.htm?shortname=infdco20100806b08

Class Counsel can be reached at:

  Lynn Lincoln Sarko, Esq.
  Derek W. Loeser, Esq.
  KELLER ROHRBACK L.L.P.
  1201 Third Avenue, Suite 3200
  Seattle, WA 98109

        and

  Steve W. Berman, Esq.
  Andrew M. Volk, Esq.
  HAGENS BERMAN SOBOL SHAPIRO LLP
  1301 Fifth Avenue, Suite 2900
  Seattle, WA 98101

Defendants' Counsel can be reached at:

  Ronald L. Berenstain, Esq.
  PERKINS COIE LLP
  1201 Third Avenue, Suite 4800
  Seattle, WA 98101

                       About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The Company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over September 25 by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  Wamu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment estimated assets of
$500,000,000 to $1,000,000,000 with zero debts.

Peter Calamari, Esq., and David Elsberg, Esq., at Quinn Emanuel
Urquhart Oliver & Hedges, LLP, served as legal counsel to WMI with
responsibility for the litigation.  Brian Rosen, Esq., at Weil,
Gotshal & Manges LLP served as legal counsel to WMI with
responsibility for the Chapter 11 case.

Bankruptcy Creditors' Service Inc. publishes Washington Mutual
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Washington Mutual Inc. (http://bankrupt.com/newsstand/or
215/945-7000).


WLH INVESTMENTS: Prohibited to Access Compass Bank's Cash
---------------------------------------------------------
The Hon. Wesley W. Steen of the U.S. Bankruptcy Court for the
Southern District of Texas prohibited WLH Investments, LTD, to use
cash, which Compass Bank claims an interest in.  Compass Bank
alleged that the Debtor is using the cash collateral without
permission.  Compass Bank added that there is no motion seeking
authority to use cash collateral and no indication in the record
of an agreement for the use of cash collateral.

Laredo, Texas-based WLH Investments, LTD, filed for Chapter 11
bankruptcy protection on July 6, 2010 (Bankr. S.D. Tex. Case No.
10-50167).  Carl Michael Barto, Esq., at Law Office of Carl M.
Barto, assists the Company in its restructuring effort.  The
Company listed $16,130,616 in its assets and $3,490,481 in
liabilities as of Petition Date.


WOODCREST CLUB: Plan of Liquidation Gets Court's Approval
---------------------------------------------------------
The Hon. Dorothy Eisenberg of the U.S. Bankruptcy Court for the
Eastern District of New York approved the Disclosure Statement and
confirmed The Woodcrest Club, Inc.'s proposed Plan of Liquidation.

As reported in the Troubled Company Reporter on April 19, 2010,
the Plan provides for the auction of the Debtor's assets.  The
Debtor relates that the proceeds of the sale will provide the
Debtor funds with which to (a) pay 100% of allowed unsecured
creditor claims with interest from the petition date; and (b)
establish a disputed claims reserve with cash sufficient to pay
the full amount of disputed claims.  The Debtor also expects that
its bondholders will receive full payment as provided by their
respective bonds.

Under the Plan, the Debtor will pay Class 1 and 3 Claims,
administrative claims and professional fees in cash after the
effective date with cash on hand from the closing of the sale of
the Debtor's property.

Payments to be made to time insurance on account of Class 2(a)
Claim and the DIP Lenders on account of their Class 2(b) Claims
will be made at the closing of the sale of the Debtor's real
property.

A full-text copy of the Blacklined Disclosure Statement is
available for free at:

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

                  About The Woodcrest Club, Inc.

Headquartered in Syosset, New York, The Woodcrest Club, Inc.,
operates storage units.  The Company filed for Chapter 11
bankruptcy protection on December 10, 2009 (Bankr. E.D. N.Y. Case
No. 09-79481).  Kenneth P. Silverman, Esq., and Gerard R. Luckman,
Esq., at Silverman Acampora LLP assist the Company in its
restructuring effort.  The Company estimated $10 million to
$50 million in assets and $1 million to $10 million in debts in
its Chapter 11 petition.


WORKSTREAM INC: Magnetar Swaps Bonds for 23.2% Equity Stake
-----------------------------------------------------------
Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova
Management LLC, and Alec N. Litowitz disclosed that on August 13,
2010, they acquired 190,158,979 shares -- or roughly 23.2% -- of
Workstream Inc. common stock pursuant to a 2010 Exchange
Agreement.  Magnetar et al. exchanged senior secured non-
convertible notes and senior secured convertible notes issued by
the Company for the common shares.

Magnetar may also be deemed to hold warrants to purchase 2,500,000
common shares.

A full-text copy of Magnetar's Schedule 13D filing with the
Securities and Exchange Commission is available at no charge at
http://ResearchArchives.com/t/s?69bf

A full-text copy of the 2010 Exchange Agreement is available at no
charge at http://ResearchArchives.com/t/s?69c0

A full-text copy of Magnetar's Form 3 filing with the SEC is
available at no charge at http://ResearchArchives.com/t/s?69c1

                       About Workstream Inc.

Maitland, Fla.-based Workstream Inc. (OTC BB: WSTM) --
http://www.workstreaminc.com/-- provides enterprise workforce
management solutions and services that help companies manage their
human capital management function.

According to the Troubled Company Reporter on April 21, 2010,
Workstream Inc. filed on April 14, 2010, its quarterly report on
Form 10-Q for the three months ended February 28, 2010.  The
Company's balance sheet at February 28, 2010, showed $14,564,794
in assets and $30,051,615 in debts, resulting in stockholders'
deficit of $15,486,821.

In its April 2010 10-Q report, the Company said its ability to
continue as a going concern depends upon its ability to
successfully refinance $21.6 million of its senior secured notes
payable, including accrued interest thereon, generate positive
cash flows from operations and obtain sufficient additional
financing, if necessary.  The Notes went into default on May 22,
2009 due to the Company's suspension of trading on the NASDAQ
Stock Market as a result of its shareholders' deficit.  The Notes
were restructured on December 11, 2009.


WORKSTREAM INC: Coghill Swaps Bonds for 47% Equity Stake
--------------------------------------------------------
CCM Master Qualified Fund, Ltd., Coghill Capital Management, LLC,
and Clint D. Coghill disclosed that on August 13, 2010, they
entered into an Exchange and Share Purchase Agreement with
Workstream Inc. pursuant to which, among other things, Coghill et
al. exchanged their existing Senior Secured Non-Convertible Notes
and Senior Secured Convertible Notes for a total of 357,942,380
common shares.

In addition, Coghill et al. also purchased from the Company
25,290,829 Shares for total cash consideration of $500,000, using
working capital from CCM Master Qualified Fund, Ltd.

All Shares were acquired for investment purposes as a result of an
exchange transaction between the Company and certain of its debt
holders, including Coghill et al.  As a result of the
transactions, Coghill et al. now hold roughly 47% of the Company's
outstanding Shares as of August 23.

Coghill et al. disclosed that they originally invested $5 million
in the Company on August 3, 2007, to acquire (i) 5 million Special
Warrants convertible into 4,000,000 Shares of the Company at a
conversion rate of $1.25 per share and (ii) additional Warrants to
purchase 1,000,000 Shares at an exercise price of $1.40 per share.

On August 29, 2008, Coghill et al. entered into an Exchange
Agreement with respect to the Special Warrants pursuant to which,
among other things, Coghill et al. exchanged the Special Warrants
for a Senior Secured Note in the original principal amount equal
to the original purchase price of the Special Warrant -- i.e.
$5,000,000.  In addition, Coghill et al. exchanged the additional
Warrants held by them for a new Warrant exercisable for the same
number of Shares at an exercise price of $0.25 per share.

From August 2009 through October 2009, Coghill et al. purchased
additional Senior Secured Notes -- in aggregate, $4.75 million in
face value -- and Warrants -- 950,000 -- from other investors in
private transactions.

On December 11, 2009, Coghill et al. entered into a second
Exchange Agreement with the Company with respect to the Senior
Secured Note pursuant to which, among other things, that Senior
Secured Note was exchanged  for (i) a replacement Senior Secured
Non-Convertible Note, (ii) a Senior Secured Convertible Note that
was convertible into the Company's Shares at a conversion price of
$0.25, and (iii) a Senior Secured Convertible Note that was
convertible into the Company's Shares at a conversion price of
$0.10.  The aggregate principal amount of all of the Notes issued
pursuant to the second Exchange Agreement was equal to the amount
of principal and accrued interest outstanding under the Senior
Secured Note that was exchanged.

Coghill et al. intend to review their investment in the Company on
a regular basis and anticipate having discussions with
representatives of the Company from time to time regarding its
business prospects and strategy.  The Company intend to closely
evaluate the performance of the Company, including, but not
limited to, its share price, business, assets, operations,
financial condition, capital structure, management and prospects.

A full-text copy of Coghill's Schedule 13D filing with the
Securities and Exchange Commission is available at no charge at
http://ResearchArchives.com/t/s?69c2

A full-text copy of Coghill's Form 3 filing with the SEC is
available at no charge at http://ResearchArchives.com/t/s?69c3

                       About Workstream Inc.

Maitland, Fla.-based Workstream Inc. (OTC BB: WSTM) --
http://www.workstreaminc.com/-- provides enterprise workforce
management solutions and services that help companies manage their
human capital management function.

According to the Troubled Company Reporter on April 21, 2010,
Workstream Inc. filed on April 14, 2010, its quarterly report on
Form 10-Q for the three months ended February 28, 2010.  The
Company's balance sheet at February 28, 2010, showed $14,564,794
in assets and $30,051,615 in debts, resulting in stockholders'
deficit of $15,486,821.

In its April 2010 10-Q report, the Company said its ability to
continue as a going concern depends upon its ability to
successfully refinance $21.6 million of its senior secured notes
payable, including accrued interest thereon, generate positive
cash flows from operations and obtain sufficient additional
financing, if necessary.  The Notes went into default on May 22,
2009 due to the Company's suspension of trading on the NASDAQ
Stock Market as a result of its shareholders' deficit.  The Notes
were restructured on December 11, 2009.


WORKSTREAM INC: New CEO John Long Holds 12.6MM Shares
-----------------------------------------------------
John W. Long, the newly minted CEO of Workstream Inc., disclosed
holding 12,645,414 shares of the Company's common stock through
his JWL Investments, LC.

On August 13, 2010, the Company consummated a private placement
pursuant to which it raised $750,000 through the sale of an
aggregate 37,936,243 common shares in the Company to certain
investors.  Simultaneous with the consummation of the transactions
contemplated by the Exchange Agreements, pursuant to the terms of
a Stock Purchase Agreement, the Company completed a private
placement pursuant to which it raised an additional $500,000
through the sale of an aggregate 25,290,828 common shares in the
Company to an affiliate of John Long and David Kennedy and Ezra
Schneier.

In connection with the closing of the Stock Purchase Agreement,
the Company entered into an employment agreement with each of
Messrs. Long, Kennedy and Schneier.

Mr. Long will serve as Chief Executive Officer of the Company.
Mr. Kennedy will serve as Chief Operating Officer and Mr. Schneier
will serve as Corporate Development Officer.

Immediately prior to joining the Company, Mr. Long, 54, was, and
continues to be, a principal in Yardley Capital Advisors, LLC, a
private equity investment company.  From October 2008 until May
2010, Mr. Long served as Chief Executive Officer of Excelus HR,
Inc.  From July 2003 until June 2007, Mr. Long served as Chief
Executive Officer of First Advantage Corporation, a diversified
business services company.

The Company also terminated its employment agreement with Michael
Mullarkey, the Company's former Chief Executive Officer and
President, and entered into a new employment agreement with Mr.
Mullarkey pursuant to which he became the Executive Vice
President, Sales and Marketing of the Company.  Each employment
agreement has an initial three-year term that expires on
August 13, 2013 and which automatically renews at the end of the
initial term and each renewal term for an additional one-year term
unless either party provides prior written notice of non-renewal.

                       About Workstream Inc.

Maitland, Fla.-based Workstream Inc. (OTC BB: WSTM) --
http://www.workstreaminc.com/-- provides enterprise workforce
management solutions and services that help companies manage their
human capital management function.

According to the Troubled Company Reporter on April 21, 2010,
Workstream Inc. filed on April 14, 2010, its quarterly report on
Form 10-Q for the three months ended February 28, 2010.  The
Company's balance sheet at February 28, 2010, showed $14,564,794
in assets and $30,051,615 in debts, and stockholders' deficit of
$15,486,821.

In its April 2010 10-Q report, the Company said its ability to
continue as a going concern depends upon its ability to
successfully refinance $21.6 million of its senior secured notes
payable, including accrued interest thereon, generate positive
cash flows from operations and obtain sufficient additional
financing, if necessary.  The Notes went into default on May 22,
2009 due to the Company's suspension of trading on the NASDAQ
Stock Market as a result of its shareholders' deficit.  The Notes
were restructured on December 11, 2009.


YUKON-NEVADA GOLD: Posts $4.9 Million Net Loss in Q2 Ended June 30
------------------------------------------------------------------
Yukon-Nevada Gold Corp. furnished the Securities and Exchange
Commission on August 18, 2010, its interim consolidated financial
statements and Managements Discussion and Analysis for the three
months ended June 30, 2010.

The Company reported a net loss of $4.9 million for the three
months ended June 30, 2010, compared with a net loss of
$7.7 million for the same period in 2009.  Gold sales were
$11.9 million in the second quarter of 2010 on gold sales of 9,876
ounces of gold from Jerritt Canyon compared to $4.8 million on
gold sales of 5,180 ounces in second quarter of 2009 as the
Jerritt Canyon mill was shut down for 29 days of the 2009 quarter.
The average price realized during the second quarter of 2010 was
$1,200 per ounce compared to $924 per ounce in the comparable
period in 2009 due to higher spot prices.

At June 30, 2010 the Company had a working capital deficiency of
$32.7 million.

The Company's balance sheet as of June 30, 2010, showed
$206.9 million in total assets, $104.4 million in total
liabilities, and stockholders' equity of $102.5 million.

As reported in the Troubled Company Reporter on April 6, 2010,
KPMG LLP, in Vancouver, Canada, expressed substantial doubt about
the Company's ability to continue as a going concern, following
its 2009 results.  The independent auditors noted of the Company's
continuing losses and negative working capital as at December 31,
2009.

In its management's discussion and analysis for the three months
ended June 30, 2010, the Company discloses that its cash on hand
at June 30, 2010, is not sufficient to maintain the ongoing
operations of the Company without continuing funds from operations
or other sources of financing.

A full-text copy of the interim consolidated financial statements
for the three months ended June 30, 2010, is available at no
charge at http://researcharchives.com/t/s?69cf

A full-text copy of management's discussion and analysis for the
three months ended June 30, 2010, is available at no charge at:

               http://researcharchives.com/t/s?69d0

                     About Yukon-Nevada Gold

Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; Frankfurt
Xetra Exchange: NG6) -- http:www.yukon-nevadagold.com/ -- is a
North American gold producer in the business of discovering,
developing and operating gold deposits.  The Company holds a
diverse portfolio of gold, silver, zinc and copper properties in
the Yukon Territory and British Columbia in Canada and in Arizona
and Nevada in the United States.


* Fitch: Municipal Bond Ratings Cuts Outnumber Upgrades
-------------------------------------------------------
Ratings cuts on U.S. state and municipal bonds outnumbered
increases for the sixth consecutive quarter amid lingering budget
pressures, the longest streak since at least 2002, Fitch Ratings
said, according to Bloomberg.

Fitch said in a report that 57 public-finance issues representing
$71.2 billion were downgraded and 36 valued at $28 billion were
upgraded in the three months ended June 30.  The ratio of ratings
cuts to increases was 1.6-to-1.  That's down from the first
quarter, when it was almost 2-to-1.

Fitch, according to the report, assigned negative outlooks to 246
credits in the second quarter, down from 305 in the previous
three-month period.  That's the first decrease in the number of
negative outlooks since the fourth quarter of 2007.  More than
90% of ratings had a stable outlook on June 30, the report said.
In the tax-supported bond sector, downgrades outnumbered upgrades
by 44 to 18, Fitch said.


* Loan Obligor Concentration Risk Decreased Marginally
------------------------------------------------------
Bloomberg News reports that obligor concentration risk dropped
marginally among Standard & Poor's Ratings Services' outstanding
rated U.S. cash flow collateralized loan obligation transactions
in the second quarter of 2010, according to a recent report.
Exposure to the top 250 corporate loan obligors decreased to 55%
from 57% of the outstanding principal balance for U.S.
collateralized loan obligations between the first and second
quarters.


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------

Sept. 14, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     ABI/NYIC Golf and Tennis Fundraiser
        Maplewood Golf Club, Maplewood, N.J.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Sept. 20, 2010 (tentative)
  AMERICAN BANKRUPTCY INSTITUTE
     Complex Financial Restructuring Program
        Fordham Law School, New York, N.Y.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Sept. 22-23, 2010 (tentative)
  AMERICAN BANKRUPTCY INSTITUTE
     ABI/NYU Bankruptcy and Business Reorganization Workshop
        New York University School of Law, New York, N.Y.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Sept. 23-25, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Southwest Bankruptcy Conference
        Four Seasons Las Vegas, Las Vegas, Nev.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 1, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     ABI/UMKC Midwestern Bankruptcy Institute
        Kansas City Marriott Downtown, Kansas City, Kan.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 1, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     ABI/GULC "Views from the Bench"
        Georgetown University Law Center, Washington, D.C.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 6-8, 2010
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        JW Marriott Grande Lakes, Orlando, Florida
           Contact: http://www.turnaround.org/

Oct. 11, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Chicago Consumer Bankruptcy Conference
        Standard Club, Chicago, Ill.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 15, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     NCBJ/ABI Educational Program
        Hilton New Orleans Riverside, New Orleans, La.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 28, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Mid-Level Professional Development Program
        Weil, Gotshal & Manges LLP, New York, N.Y.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 29, 2010 (tentative)
  AMERICAN BANKRUPTCY INSTITUTE
     International Insolvency Symposium
        The Savoy, London, England
           Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. __, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Delaware Views from the Bench and Bankruptcy Bar
        Hotel du Pont, Wilmington, Del.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. 11, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Detroit Consumer Bankruptcy Conference
        Hyatt Regency Dearborn, Dearborn, Mich.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. 29, 2010
  RENAISSANCE AMERICAN MANAGEMENT, INC. & BEARD GROUP, INC.
     17th Annual Distressed Investing Conference
        The Helmsley Park Lane Hotel, New York City
           Contact: 1-903-595-3800;
                    http://www.renaissanceamerican.com/

Dec. 9-11, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Winter Leadership Conference
        Camelback Inn, a JW Marriott Resort & Spa,
        Scottsdale, Ariz.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Dec. 2-4, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     22nd Annual Winter Leadership Conference
        Camelback Inn, Scottsdale, Arizona
           Contact: 1-703-739-0800; http://www.abiworld.org/

January 26-28, 2011
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Distressed Investing Conference
        Aria Las Vegas
           Contact: http://www.turnaround.org/

Jan. 27-28, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Rocky Mountain Bankruptcy Conference
        Westin Tabor Center, Denver, Colo.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Feb. 3-5, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Caribbean Insolvency Symposium
        Westin Casuarina Resort & Spa, Grand Cayman Island
           Contact: 1-703-739-0800; http://www.abiworld.org/

Feb. 24-25, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Valcon
        Four Seasons Las Vegas, Las Vegas, Nev.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 4, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Bankruptcy Battleground West
        Hyatt Regency Century Plaza, Los Angeles, Calif.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 7-9, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Conrad Duberstein Moot Court Competition
        Duberstein U.S. Courthouse, New York, N.Y.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 10, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Nuts and Bolts - Florida
        Tampa, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 10-12, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     SUCL/ Alexander L. Paskay Seminar on
     Bankruptcy Law and Practice
        Marriott Tampa Waterside, Tampa, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 17-19, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Byrne Judicial Clerkship Institute
        Pepperdine University School of Law, Malibu, Calif.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 31-Apr. 3, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Annual Spring Meeting
        Gaylord National Resort & Convention Center,
        National Harbor, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

April 27-29, 2011
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Spring Conference
        JW Marriott, Chicago, IL
           Contact: http://www.turnaround.org/

May 5, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Nuts and Bolts - New York City
        Association of the Bar of the City of New York,
        New York, N.Y.
           Contact: 1-703-739-0800; http://www.abiworld.org/

May 6, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     New York City Bankruptcy Conference
        Hilton New York, New York, N.Y.
           Contact: 1-703-739-0800; http://www.abiworld.org/

June 6, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Canadian-American Cross-Border Insolvency Symposium
        Fairmont Royal York, Toronto, Ont.
           Contact: 1-703-739-0800; http://www.abiworld.org/

June 9-12, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Central States Bankruptcy Workshop
        Grand Traverse Resort and Spa, Traverse City, Mich.
              Contact: http://www.abiworld.org/

July 21-24, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Northeast Bankruptcy Conference
        Hyatt Regency Newport, Newport, R.I.
           Contact: 1-703-739-0800; http://www.abiworld.org/

July 27-30, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Southeast Bankruptcy Workshop
        The Sanctuary at Kiawah Island, Kiawah Island, S.C.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Aug. 4-6, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Mid-Atlantic Bankruptcy Workshop
        Hotel Hershey, Hershey, Pa.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 14, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     NCBJ/ABI Educational Program
        Tampa Convention Center, Tampa, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. __, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     International Insolvency Symposium
        Dublin, Ireland
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 25-27, 2011
  TURNAROUND MANAGEMENT ASSOCIATION
     Hilton San Diego Bayfront, San Diego, CA
        Contact: http://www.turnaround.org/

Dec. 1-3, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     23rd Annual Winter Leadership Conference
        La Quinta Resort & Spa, La Quinta, Calif.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Apr. 19-22, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Annual Spring Meeting
        Gaylord National Resort & Convention Center,
        National Harbor, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

July 14-17, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Southeast Bankruptcy Workshop
        The Ritz-Carlton Amelia Island, Amelia Island, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Aug. 2-4, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Mid-Atlantic Bankruptcy Workshop
        Hyatt Regency Chesapeake Bay, Cambridge, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. 29 - Dec. 2, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Winter Leadership Conference
        JW Marriott Starr Pass Resort & Spa, Tucson, Ariz.
           Contact: 1-703-739-0800; http://www.abiworld.org/

The Meetings, Conferences and Seminars column appears in the
Troubled Company Reporter each Wednesday.  Submissions via
e-mail to conferences@bankrupt.com are encouraged.

Last Updated: August 16, 2010



                           *********

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 ***