TCR_Public/100826.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Thursday, August 26, 2010, Vol. 14, No. 236

                            Headlines


4 BK CORP: Case Summary & 6 Largest Unsecured Creditors
400 SUNRISE: Voluntary Chapter 11 Case Summary
A DIAMOND KEY: Case Summary & 16 Largest Unsecured Creditors
AAA INVESTMENT: Case Summary & 6 Largest Unsecured Creditors
ABITIBIBOWATER INC: To Get C$130MM Settlement Payment from Canada

ACTRADE FINANCIAL: Can't Block Insurer's Demand for a Jury Trial
ACUFF EQUIPMENT: Montgomery Ct. Did Not Violate Automatic Stay
AMELIA ISLAND: Omni Hotels Wins Auction With $67.1-Mil. Bid
AMERICAN INT'L: Fed Said to Have Plans to Cut Credit Line
AMERICAN INT'L: Won't Entertain Other Offers for Nan Shan Stake

AMERICAN INT'L: Enlists 5 More Banks for AIA IPO
AMERICAN MORTGAGE: Sets Limits on Third Party Releases
AMERICAN SAFETY: Second-Lien Lenders Want to Propose Own Plan
ANTHONY O'NEILL: Case Summary & 12 Largest Unsecured Creditors
ARIZONA HEART: Balks at U.S. Trustee's Bid for Bankruptcy Notice

ASCENDIA BRANDS: Court Extends DIP Loan Expiration Until Dec. 31
ASHRAY CORP: Voluntary Chapter 11 Case Summary
ATLAS PIPELINE: Moody's Reviews 'B3' Corporate Family Rating
B D OPERATIONS: Case Summary & 11 Largest Unsecured Creditors
BANKUNITED FINANCIAL: Has Plan Exclusivity Until November 22

BIOLASE TECHNOLOGY: Shareholders' Equity Fails Nasdaq Requirement
BLOCKBUSTER INC: Says it May Be Required to File for Chapter 11
BLOOMINGTON MOTOR: Case Summary & 20 Largest Unsecured Creditors
BLYN II: Case Summary & 13 Largest Unsecured Creditors
BOSTON GENERATING: Asks for Court's Nod to Use Cash Collateral

BOSTON GENERATING: Taps Perella Weinberg as Financial Advisor
BOSTON GENERATING: Proposes Constellation-Led Auction on Oct. 29
BROADWAY 401: Restructuring Plan Consummated; Court Closes Case
BROWN PUBLISHING: In Talks to Sell Assets to 2nd Highest Bidder
CAVE LAKES: Taps Neil J. Beller as Bankruptcy Counsel

CENTRAL METAL: Plan Confirmation Hearing Scheduled for October 28
CLAIRE'S STORES: To Report $334MM in Sales for July 31 Quarter
CLEMENT CARINALLI: Plan Confirmation Hearing Set for October 1
CLIFFORD DUMAS: Case Summary & 7 Largest Unsecured Creditors
COMPLIANCE SYSTEMS: Posts $580,000 Net Loss in June 30 Quarter

CONSOLIDATED CONTAINER: S&P Raises Corporate Credit Rating to 'B'
CORNERSTONE PARTNERS: Case Summary & 14 Largest Unsec. Creditors
CROSSTOWN STOR-N-MORE: Case Summary & Creditors List
CRUCIBLE MATERIALS: Judge Confirms Liquidating Plan
CUSTOM CABLE: Seeks to Conduct Auction of Assets

DALE STICKNEY: Case Summary & 20 Largest Unsecured Creditors
DARIUS ENTERPRISES: Case Summary & 5 Largest Unsecured Creditors
DEAN FOODS: Fitch Assigns Issuer Default Rating at 'B+'
DREIER LLP: Trustee Seeks to Recoup $16MM From Patriot Group
DONALD POWERS: Case Summary & 20 Largest Unsecured Creditors

DREIER LLP: Hearing on Dreier Ex-Wife's $7MM Claim Set Sept. 14
E*TRADE FINANCIAL: Discloses 3-Year Loss-Per-Share Calculations
ECLIPSE AVIATION: Undelivered Aircraft Spat a Core Proceeding
EMAK WORLDWIDE: Gets Court Approval of Several "First Day" Motions
FAIRVUE CLUB: Plan Confirmation Hearing Scheduled for October 6

FILI ENTERPRISES: Taps Brownstein Hyatt as General Bankr. Counsel
FIRST BANCORP: Reveals Relevant Price & Exchange Ratios for Offer
FIRST CHESTER: Earns $169,000 in Q2 Ended June 30
ECLIPSE AVIATION: Undelivered Aircraft Spat a Core Proceeding
FLEETWOOD ENTERPRISES: Emerges from Chapter 11 Bankruptcy

FORUM HEALTH: PBGC to Take Over Pension Benefit Plans
GENTA INC: Audit Committee Taps EisnerAmper LLP as Accountant
GLOBAL BRASS: S&P Assigns 'B' Corporate Credit Rating
GLORIA FONTANILLA: Case Summary & 9 Largest Unsecured Creditors
GREAT ATLANTIC & PACIFIC: Erivan Karl Haub Reports Equity Stake

GREENBRIER COS: Fidelity, FMR Report 4.879% of Common Stock
GENERAL GROWTH: Court Sets October 21 Plan Confirmation Hearing
GENERAL GROWTH: Proposes to Engage in Corporate Structure Deals
GENERAL GROWTH: Wins Nod to Issue Anchor Transactions Indemnities
GENERAL MOTORS: Asbestos Rep. Appointment Effective Nov. 13, 2009

GENERAL MOTORS: Committee Wins Order for Asbestos Information
GENERAL MOTORS: New GM Files Prospectus on Initial Public Offering
GENERAL MOTORS: Old GM Proposes 3rd Amendment to APS Engagement
GEORGE W PARK: Court Accepts Blackstreet's $12.8-Mil. Offer
GROVE STREET: Can Use Secured Creditors' Cash Until August 31

GULFSTREAM CRANE: Plan Exclusivity Extended Until November 5
HAMBONE DOG: Taps Nigle B. Barrow as Bankruptcy Counsel
HARRY MACKLOWE: Boston Properties to Acquire 510 Madison Avenue
HAWAII BIOTECH: Assets Sold to Merck Unit for $3.1 Million
HOTELS UNION: Confirmation Hearing on Friday; LNR Balks at Plan

HUDSON'S FURNITURE: Court Amends Final OK on Cash Collateral Use
INERGY LP: Moody's Upgrades Corporate Family Rating to 'Ba2'
INNERGEX RENEWABLE: S&P Assigns 'BB' Rating on Preferred Shares
INOVA TECHNOLOGY: Posts $7-Mil. Net Loss in Fiscal 2010
INTERNATIONAL LEASE: Fitch Puts 'BB' Rating on $500MM Sr. Notes

ISOLA USA: Moody's Assigns Corporate Family Rating at 'B3'
ISOLA USA: S&P Assigns 'B' Corporate Credit Rating
J.A.G. CARWASH: Case Summary & 2 Largest Unsecured Creditors
JAIME GONZALEZ: Wants to Hire Eason & Tambornini as Bankr. Counsel
JAMES PINNELL: Case Summary & 20 Largest Unsecured Creditors

JOHN COLBERT: Taps Paul Feldman to Sell Baker's Keyboard
JOHN D. OIL: Posts $403,900 Net Loss in June 30 Quarter
JOSEPH HUSMAN: Case Summary & 6 Largest Unsecured Creditors
KENNETH ANDERSON: Case Summary & 19 Largest Unsecured Creditors
KOPAC INTERNATIONAL: Case Summary & 20 Largest Unsecured Creditors

L&H TRUCKING: Planing to Sell Trucking Business
LA TOYA JACKSON: Creditors' Trust Will Terminate on March 31
LEHMAN BROTHERS: SIPA Trustee Files Interim Investigation Report
LESLIE CONTROLS: Asbestos Claimants' Ballots Due by Sept. 27
LIBBEY INC: BofA, Merrill Lynch Continue to Pare Stake

LIONS GATE: June 30 Balance Sheet Upside Down by $1,580,000
MACC PRIVATE: Reports $603,100 Net Income in Q3 Ended June 30
MANJUSHREE MISRA: Case Summary & 6 Largest Unsecured Creditors
MASH INTERNATIONAL: Case Summary & 2 Largest Unsecured Creditors
MASONITE INC: S&P Affirms 'BB-' Long-Term Corporate Credit Rating

MEDICAL STAFFING: Court Clears Lenders to Buy Assets
MEHDI AFSHAR: Case Summary & 20 Largest Unsecured Creditors
MESA AIR: Assumes Airport St. Louis Operating Agreement
MEZABAY INTERNATIONAL: Raises Going Concern Doubt
MICHAEL RIVERA: Case Summary & 20 Largest Unsecured Creditors

MICROGY HOLDINGS: Defends Ch. 7 Filing as Bank Seeks Dismissal
MIDWEST BANC: Case Summary & 20 Largest Unsecured Creditors
NEC HOLDINGS: Wins Approval for Sale to Gores Affiliates
NETWURKS INC: CEO's Statement Didn't Create Administrative Claim
OLD COLONIES: Voluntary Chapter 11 Case Summary

ORIENTAL TRADING: Files for Ch. 11 with Pre-Arranged Plan
PATRICK HACKETT: Has Until Sept. 8 to Revise Disclosure Statement
PETTERS WORLDWIDE: Petters to Plead Guild for Fraud & Conspiracy
PHYTOMEDICAL TECH: Posts $154,700 Net Loss in June 30 Quarter
POINT BLANK: Fighting Against Bids for Ch. 11 Trustee, Examiner

PROCONN, LLC: Case Summary & 20 Largest Unsecured Creditors
PROFESSIONAL VETERINARY: Case Summary & Creditors List
PROFESSIONAL VETERINARY: Pursuing Sec. 363 Sale of All Assets
PROJECT PLAYLIST: Universal Disputes Bid to Use Cash Collateral
PULTEGROUP INC: Fitch Affirms 'BB+' Issuer Default Rating

QIMONDA RICHMOND: Court Rejects Google's Conversion Argument
QUANTUM CORPORATION: Eight Elected to Board of Directors
RAME PROPERTIES: Case Summary & 16 Largest Unsecured Creditors
RAYMOND WHYTE: Case Summary & 20 Largest Unsecured Creditors
RADIO ONE: S&P Downgrades Corporate Credit Rating to 'SD'

REUNION INDUSTRIES: C. Bradley and J. Poole Retire as Directors
RITE AID: Completes Refinancing of $1.175 Bil. Credit Facility
ROCKWOOD INSURANCE: Creditors Have Until Sept. 24 to File Claims
ROPER INDUSTRIES: Moody's Affirms 'Ba1' Senior Subordinate Rating
ROSALIND NELSON: Case Summary & 20 Largest Unsecured Creditors

ROUGE STEEL: PBGC Wins Suit to End Pension Plans
RUSSEL CLARK: Case Summary & 3 Largest Unsecured Creditors
SAINT VINCENTS: Has Deals to Sell Three Properties
SCO GROUP: Wins Court OK to Sell Software Business
SECUREALERT INC: Inks GPS Monitoring Contract in Brazil

SENIOR HOUSING: S&P Raises Corporate Credit Rating From 'BB+'
SIGMA INDUSTRIES: Announces Management Cease Trade Order
SINCLAIR BROADCAST: Amends & Refinance Portion of Credit Facility
SOFTLAYER TECHNOLOGIES: S&P Withdraws 'B' Corporate Credit Rating
SOUTH COAST: Case Summary & 20 Largest Unsecured Creditors

SPHERIS INC: MedQuist, CBay Settle $21 Million Claim
STATION CASINOS: Asks for Nod of Plan Settlement With Committee
STATION CASINOS: Presents Settlement With Shareholders
STATION CASINOS: Proposes Global Settlement With Lender Group
STATION CASINOS: To Present Plan for Confirmation on Friday

STEPHEN WEBER: Case Summary & 20 Largest Unsecured Creditors
SUSAN SOSNOW: Voluntary Chapter 11 Case Summary
S.W. BACH: Has Interest in Customer Accounts Transferred to AGI
TAGISH LAKE: Posts Notice of Change to Directors' Circular
TANGLEWOOD FARMS: Case Summary & 20 Largest Unsecured Creditors

THANG NGUYEN: Case Summary & 20 Largest Unsecured Creditors
TIB FINANCIAL: Posts $14.09 Million Net Loss in June 30 Quarter
TRANS-LUX CORPORATION: Posts $2.6 Million Net Loss in Q2 2010
TRICO MARINE: Files Chapter 11 Petition in Delaware
UNISYS CORP: S&P Raises Corporate Credit Rating to 'B+'

UNIVERSAL BUILDING: Court Okays K&L Gates as Bankruptcy Counsel
UNIVERSAL BUILDING: Gets Court OK to Hire Saul Ewing as Co-Counsel
VICTORY MEMORIAL: Medical Malpractice Claim Filed Too Late
VYTERIS INC: Audit Committee Taps EisenAmper LLP as Accountant
WORKSTREAM INC: Four Individuals Elected Directors

* Canada Bankruptcies Rose 4.3% in June From May
* Commercial-Property Owners Default on Debts, Surrender Bldgs
* Morgan Joseph Says Fund Uses Move Away From Paying Off Creditors
* Properly Valuing Assets May Bankrupt Some Banks, Says Economist

* Two-Year Limit Means Two-Year Anniversary, Says Appeals Court

* Neal Gerber Partner Named to Ch. 7 Trustees Panel
* Steven Rofsky to Head Cain Brothers' Restructuring Practice
* J. Lisac Joins Dresner Partners to Lead Restructuring Practice

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


                            ********


4 BK CORP: Case Summary & 6 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: 4 BK Corp.
        684 North Summit Way
        Alpine, UT 84004

Bankruptcy Case No.: 10-31278

Chapter 11 Petition Date: August 19, 2010

Court: United States Bankruptcy Court
       District of Utah (Salt Lake City)

Judge: R. Kimball Mosier

Debtor's Counsel: Michael L. Labertew, Esq.
                  LABERTEW & ASSOCIATES, LLC
                  50 W Broadway, Suite 1000
                  Salt Lake City, UT 84101
                  Tel: (801) 424-3555
                  Fax: (801) 365-7314
                  E-mail: michael@labertewlaw.com

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

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

A list of the Company's six largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/utb10-31278.pdf

The petition was signed by Lloyd McEwan, president.


400 SUNRISE: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: 400 Sunrise Partners, LLC
        5420 Douglas Blvd. #F
        Granite Bay, CA 95746

Bankruptcy Case No.: 10-41878

Chapter 11 Petition Date: August 18, 2010

Court: United States Bankruptcy Court
       Eastern District of California (Sacramento)

Judge: Michael S. McManus

Debtor's Counsel: Illyssa I. Fogel, Esq.
                  LAW OFFICE OF ILLYSSA I. FOGEL
                  25 N. US Highway 95 S
                  McDermitt, NV 89421
                  Tel: (775) 532-8088

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

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

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

The petition was signed by Jason C. Morehouse, managing member.


A DIAMOND KEY: Case Summary & 16 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: A Diamond Key Master Planned Community, LLC
        P.O. Box 1830
        Lake Havasu City, AZ 86405

Bankruptcy Case No.: 10-26180

Chapter 11 Petition Date: August 18, 2010

Court: United States Bankruptcy Court
       District of Arizona (Yuma)

Judge: Randolph J. Haines

Debtor's Counsel: James M. McGuire, Esq.
                  MCGUIRE GARNER, PLLC
                  320 N. Leroux, Suite A
                  Flagstaff, AZ 86001
                  Tel: (928) 779-1173
                  Fax: (928) 779-1175
                  E-mail: jmcguire@mcguiregardner.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 16 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/azb10-26180.pdf

The petition was signed by Jerome P. Schmitz, managing member.


AAA INVESTMENT: Case Summary & 6 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: AAA Investment Company, LLC
        1370 W. Highway 89A, #17
        Sedona, AZ 86336

Bankruptcy Case No.: 10-26111

Chapter 11 Petition Date: August 18, 2010

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Redfield T. Baum PCT Sr.

Debtor's Counsel: Brian N. Spector, Esq.
                  JENNINGS STROUSS & SALMON, PLC
                  One E. Washington St., #1900
                  Phoenix, AZ 85004-2554
                  Tel: (602) 262-5977
                  Fax: (602) 495-2654
                  E-mail: bspector@jsslaw.com

Scheduled Assets: $860,271

Scheduled Debts: $1,167,583

A list of the Company's six largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/azb10-26111.pdf

The petition was signed by John D. Miller, member of John D.
Miller Real Estate Inv, LLC, Debtor's sole member.


ABITIBIBOWATER INC: To Get C$130MM Settlement Payment from Canada
-----------------------------------------------------------------
AbitibiBowater Inc. reached a formal settlement agreement with the
Government of Canada with regards to its assets and rights in
Newfoundland and Labrador, Canada, expropriated by the provincial
government under Bill 75 in December 2008.  Canada will pay
AbitibiBowater C$130 million, representing not more than the fair
market value of those rights and assets, following the Company's
emergence from creditor protection.

As part of the settlement, AbitibiBowater will waive its legal
actions and claims against the Government of Canada under the
North American Free Trade Agreement.

"We believe this is an acceptable settlement for our Company,
stakeholders and creditors, given the set of circumstances faced
by the Company at this particular time as well as the inherent
uncertainty of any judicial process," stated David J. Paterson,
President and Chief Executive Officer.  "We are now able to move
forward and focus on finalizing our restructuring process and
plans to emerge from creditor protection in the fall 2010."

"AbitibiBowater would like to thank the Government of Canada for
its efforts to reach this settlement and avoid a protracted and
expensive NAFTA case.  We look forward to continuing our strong
working relationships with Canada and contributing to the
country's economic, social and sustainable development," concluded
Mr. Paterson.

The settlement is conditional upon AbitibiBowater obtaining the
approval of its terms by the Superior Court of Quebec in the CCAA
proceedings and by the U.S. court in the chapter 11 bankruptcy
proceedings as well as court approvals in the U.S. and Canada of
AbitibiBowater's restructuring plans.  Following emergence, the
settlement payment will be paid to the new Canadian entity.

                     About AbitibiBowater Inc.

AbitibiBowater (OTC: ABWTQ) produces newsprint, commercial
printing papers, market pulp and wood products.  It is the eighth
largest publicly traded pulp and paper manufacturer in the world.
AbitibiBowater owns or operates 22 pulp and paper facilities and
26 wood products facilities located in the United States, Canada
and South Korea.  The Company also recycles old newspapers and
magazines.

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

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

U.S. Bankruptcy Judge Kevin Carey handles the Chapter 11 cases of
AbitibiBowater Inc. and its U.S. affiliates and the Chapter 15
case of ACI, et al.

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

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


ACTRADE FINANCIAL: Can't Block Insurer's Demand for a Jury Trial
----------------------------------------------------------------
A bankruptcy judge has rejected a bid by Actrade Financial
Technologies Ltd.'s liquidation trust to block a group of insurers
from demanding a jury trial in a dispute over $14 million in bond
payments, Bankruptcy Law360 reports.  According to Law360,
Greenwich Insurance Co., XL Reinsurance America Inc. and Great
American Insurance Co. did not lose their right to a trial when
they asserted counterclaims of subrogation and affirmative
defenses.

                      About Actrade Financial

Actrade Financial Technologies Ltd., through its subsidiaries,
provided payment technology solutions that automate financial
processes and enhance business-to-business commerce relationships.
It filed for Chapter 11 on December 12, 2002 (Bankr. S.D.N.Y. Case
No. 02-16212).  It obtained confirmation of its plan of
liquidation on January 7, 2004.


ACUFF EQUIPMENT: Montgomery Ct. Did Not Violate Automatic Stay
--------------------------------------------------------------
In Fifth Third Bank, v. L&A Investments, et al., Appellate No.
23601 (Ohio App. Ct., Montgomery County, August 13, 2010), L&A
Investments, Acuff Equipment Company, Inc., Larry Acuff, and David
Liddic appeal from the Montgomery County Common Pleas Court's
May 29, 2009 entry of a default judgment and decree of
foreclosure.  The appellants advance three assignments of error.
First, they contend the trial court lacked jurisdiction to enter a
default judgment and decree of foreclosure because a notice of
appeal had been filed three days earlier.  Second, they claim the
trial court erred in sustaining a Civ.R. 60(B) motion for relief
from the judgment presently on appeal.  Third, they assert that
the trial court erred in modifying an automatic stay issued as the
result of one of the party's filing a petition in bankruptcy
court.

The Appellate Court disagreed, holding, among others, that the
trial court correctly concluded that the bankruptcy stay applied
only to Acuff Equipment Company.  In making this determination,
the trial court did not modify or extend the automatic stay in
violation of the bankruptcy court's exclusive jurisdiction.

The dispute stems from a complaint Fifth Third Bank filed in
February 2009, naming L&A Investments et al. as defendants along
with the Montgomery County treasurer.  It was based on alleged
defaults on promissory notes executed by L&A Investments and Acuff
Equipment Company.  The complaint alleged that Acuff Equipment
Company, Larry Acuff, and David Liddic had guaranteed the note
executed by L&A Investments. The complaint further alleged that
L&A Investments, Larry Acuff, and David Liddic had guaranteed two
notes executed by Acuff Equipment Company.  The complaint also
sought judgment on a security agreement executed by Acuff
Equipment Company and foreclosure on a mortgage executed by L&A
Investments.

Acuff Equipment Company filed a March 6, 2009 notice of bankruptcy
stay in trial court.  The notice advised the trial court and the
parties that Acuff Equipment Company had filed a bankruptcy
petition in federal court.

Fifth Third Bank filed a March 10, 2009 motion to modify the
notice of bankruptcy stay.  It argued that the automatic stay
applied only to Acuff Equipment Company and not to the other
defendants.

A copy of the decision is available at:

     http://www.leagle.com/unsecure/page.htm?shortname=inohco20100813389

Fifth Third Bank is represented in the case by:

          Patricia L. Hill, Esq.
          Robert D. Ross, Esq.
          Darlene E. Fierle, Esq.
          STATMAN HARRIS & EYRICH, LLC
          Fifth Third Center
          1 South Main Street Suite 900
          Dayton, Ohio 45402
          Telephone: 937-222-1090
          Facsimile: 937-222-1046
          E-mail: plhill@statmanharris.com
                  dfierle@statmanharris.com
                  rross@statmanharris.com

L&A Investments, et al. and David Liddie are represented by:

          A. Mark Segreti, JR., Esq.
          1405 Streamside Drive
          Dayton, Ohio 45459
          Telephone: 937-439-0386

               - and --

          Anne M. Frayne, Esq.
          MYERS & FRAYNE CO., LPA
          18 West First Street, Suite 200
          Dayton, Ohio 45402
          Telephone: 937-224-0077
          E-mail: annefrayne@myersandfrayne.com

The state of Ohio is represented by:

          George C. Patricoff, Esq.
          301 West Third Street, 5th Floor
          Dayton, Ohio 45402


AMELIA ISLAND: Omni Hotels Wins Auction With $67.1-Mil. Bid
-----------------------------------------------------------
Omni Hotels & Resorts won an auction for the Amelia Island
Plantation, in Florida.  Omni is buying the resort for
$67.1 million, which is contingent on the Amelia Island Company's
Chapter 11 bankruptcy reorganization plan obtaining approval at
another court hearing on Aug. 26.

As reported by the Troubled Company Reporter on August 2, 2010,
the Florida Times-Union said two more investors have filed offers
to acquire the assets of Amelia Island Co.  Bidders were given
until July 29, 2010, to submit their initial offers.  Noble
Investment Group, the stalking horse bidder, was under contract to
start the August 23 auction with a $45.9 million bid.

Omni Hotels & Resorts expects to take over full ownership and
operation of the luxury resort sometime this fall.  The brand
plans to expand the resort development with approximately 125
additional guest rooms and suites as well as a new 16,000 square
foot ballroom to accommodate additional meetings and events.

"We are exceptionally pleased to add this extraordinary resort to
the Omni portfolio given its great beauty, gracious accommodations
and broad range of amenities," said Mike Deitemeyer, president of
Omni Hotels & Resorts.  "We believe that the property extends our
luxury resort collection and exemplifies our commitment to deliver
memorable experiences to our guests."

                      About Amelia Island


Amelia Island Company ran and owned the Amelia Island Plantation,
a 1,350-acre resort on Amelia Island in Florida.  The resort has
249 rooms and three golf courses.  The property owes $28.4 million
on a first mortgage held by an affiliate of Prudential Retirement
Insurance & Annuity Co.  The collateral is said by the resort to
be worth $46 million.

Amelia Island filed for Chapter 11 on Nov. 13, 2009 (Bankr. M.D.
Fla. Case No. 09-09601).  The petition estimated assets and debt
both exceeding $50 million.


AMERICAN INT'L: Fed Said to Have Plans to Cut Credit Line
---------------------------------------------------------
The Federal Reserve plans to cut American International Group
Inc.'s credit line by about $3.6 billion in a sign of confidence
the insurer can reduce reliance on taxpayer funds, Carla Main at
Bloomberg News reported, citing a person with knowledge of the
proposal.

The Bloomberg report relates that under terms of AIG's 2008
rescue, paying down the line was supposed to lower the amount of
credit available.  The Fed gave an exemption in 2009 on
$3.6 billion in proceeds from asset sales and has decided this
year that the relief may no longer be necessary, said the person,
who declined to be identified because the plan isn't public.  AIG
had $13.3 billion in credit remaining on the line as of June 30.

                             About AIG

American International Group, Inc. -- http://www.aig.com/-- is an
international insurance organization with operations in more than
130 countries and jurisdictions.  AIG companies serve commercial,
institutional and individual customers through one of the most
extensive worldwide property-casualty networks of any insurer. In
addition, AIG companies are leading providers of life insurance
and retirement services around the world.  AIG common stock is
listed on the New York Stock Exchange, as well as the stock
exchanges in Ireland and Tokyo.

In September 2008, AIG experienced a liquidity crunch when its
credit ratings were downgraded below "AA" levels by Standard &
Poor's, Moody's Investors Service and Fitch Ratings.  AIG almost
collapsed under the weight of bad bets it made insuring mortgage-
backed securities.  The Company, however, was bailed out by the
Federal Reserve, but even after an initial infusion of
$85 billion, losses continued to grow.  The later rescue packages
brought the total to $182 billion, making it the biggest federal
bailout in U.S. history.

AIG has been working to protect and enhance the value of its key
businesses, execute an orderly asset disposition plan, and
position itself for the future.  AIG has sold a number of its
subsidiaries and other assets to pay down loans received from the
U.S. government, and continues to seek buyers of its assets.


AMERICAN INT'L: Won't Entertain Other Offers for Nan Shan Stake
---------------------------------------------------------------
Aries Poon at Dow Jones Newswires reports that American
International Group Inc. said Tuesday that it is committed to
selling its stake in Nan Shan Life Insurance Co., its Taiwanese
life-insurance unit, to a consortium set up by China Strategic
Holdings Ltd. and Primus Financial Holdings Ltd., and it won't
entertain any other offers.

According to Dow Jones, AIG explicitly said for the first time
that it "has no intention of selling its stake to any other party,
and for example, will not entertain an offer from Chinatrust."

Dow Jones relates Chinatrust Financial Holding Co., the parent
company of Taiwan's largest credit-card issuer, restated this
month its interest in buying AIG's stake in Nan Shan Life.  AIG
said it is confident the deal with the China Strategic consortium
will be approved by Taiwan's regulator.

According to Dow Jones, Taiwan's Financial Supervisory Commission
and Chinatrust declined to comment.  China Strategic wasn't
immediately available for comment.

Dow Jones relates China Strategic and Primus agreed in October
2010 to buy Nan Shan Life from AIG for $2.15 billion, but the deal
has been hindered by concerns in Taiwan that China Strategic is
backed by Chinese funds and has no experience in operating an
insurance company.

Dow Jones says China Strategic has denied links to China, and AIG
has said it received "legally binding representations" from the
consortium that no Chinese money is being used to fund the deal.
The consortium and AIG recently extended the deal's deadline to
Oct. 12.

                             About AIG

American International Group, Inc. -- http://www.aig.com/-- is an
international insurance organization with operations in more than
130 countries and jurisdictions.  AIG companies serve commercial,
institutional and individual customers through one of the most
extensive worldwide property-casualty networks of any insurer.  In
addition, AIG companies are leading providers of life insurance
and retirement services around the world.  AIG common stock is
listed on the New York Stock Exchange, as well as the stock
exchanges in Ireland and Tokyo.

In September 2008, AIG experienced a liquidity crunch when its
credit ratings were downgraded below "AA" levels by Standard &
Poor's, Moody's Investors Service and Fitch Ratings.  AIG almost
collapsed under the weight of bad bets it made insuring mortgage-
backed securities.  The Company, however, was bailed out by the
Federal Reserve, but even after an initial infusion of
$85 billion, losses continued to grow.  The later rescue packages
brought the total to $182 billion, making it the biggest federal
bailout in U.S. history.

AIG has been working to protect and enhance the value of its key
businesses, execute an orderly asset disposition plan, and
position itself for the future.  AIG has sold a number of its
subsidiaries and other assets to pay down loans received from the
U.S. government, and continues to seek buyers of its assets.


AMERICAN INT'L: Enlists 5 More Banks for AIA IPO
------------------------------------------------
The Wall Street Journal's Alison Tudor reports that American
International Group Inc. has enlisted five more banks to handle
its listing of pan-Asian life-insurer AIA Group Ltd. this fall,
people familiar with the matter said Wednesday.

Sources told the Journal that AIG has added Bank of America
Corp.'s Bank of America Merrill Lynch unit, Credit Suisse Group
and UBS AG as well as Chinese banks CCB International (Holdings)
Ltd. and ICBC International Holdings Ltd. as bookrunners on the
deal.  The report notes Goldman Sachs Group Inc., Morgan Stanley,
Citigroup Inc. and Deutsche Bank AG were appointed as global
coordinators in July 2010.

According to the Journal, all nine banks were previously involved
in plans for an AIA initial public offering, which was abandoned
when Prudential plc made its $35.5 billion move to acquire the
unit in March.

Prudential's bid ultimately collapsed, prompting AIG to revive its
IPO plan for AIA.  The report says AIG has opted to adhere rigidly
to its listing timetable, partly to instill a sense of certainty
in the minds of AIA staff and stem defections.

According to the Journal, with its roster of bankers now
completed, AIG must decide the size of the IPO and its structure
in the coming weeks if it is to keep to its rigorous timetable for
the Hong Kong listing.  AIG has also has to name a new chief
financial officer for AIA after the previous person quit in the
midst of a bid from Prudential this spring.

The report also relates people familiar with the matter said AIG
has already turned down offers from a consortium of Chinese pre-
IPO investors because it couldn't be certain the bidders had
secure financing or regulatory approval-and it couldn't wait to
find out.

The report also relates AIG's advisers have already talked to
sovereign-wealth funds-including China Investment Corp.,
Singapore's Temasek Holdings Pte. Ltd., the Government of
Singapore Investment Corp., the Kuwait Investment Authority and
the Abu Dhabi Investment Authority-about investing in AIA.  They
also have spoken with several Hong Kong-based tycoons about
acquiring a piece of AIA, the people said.

                             About AIG

American International Group, Inc. -- http://www.aig.com/-- is an
international insurance organization with operations in more than
130 countries and jurisdictions.  AIG companies serve commercial,
institutional and individual customers through one of the most
extensive worldwide property-casualty networks of any insurer. In
addition, AIG companies are leading providers of life insurance
and retirement services around the world.  AIG common stock is
listed on the New York Stock Exchange, as well as the stock
exchanges in Ireland and Tokyo.

In September 2008, AIG experienced a liquidity crunch when its
credit ratings were downgraded below "AA" levels by Standard &
Poor's, Moody's Investors Service and Fitch Ratings.  AIG almost
collapsed under the weight of bad bets it made insuring mortgage-
backed securities.  The Company, however, was bailed out by the
Federal Reserve, but even after an initial infusion of
$85 billion, losses continued to grow.  The later rescue packages
brought the total to $182 billion, making it the biggest federal
bailout in U.S. history.

AIG has been working to protect and enhance the value of its key
businesses, execute an orderly asset disposition plan, and
position itself for the future.  AIG has sold a number of its
subsidiaries and other assets to pay down loans received from the
U.S. government, and continues to seek buyers of its assets.


AMERICAN MORTGAGE: Sets Limits on Third Party Releases
------------------------------------------------------
Bill Rochelle, columnist at Bloomberg News, says that American
Mortgage Acceptance Co. has a Chapter 11 plan under which
creditors and shareholders won't be precluded from suing the
Company's officers, directors, employees and advisers for
violations of state or federal securities laws.  Creditors will be
barred from filing other types of lawsuits.  If the plan is
confirmed, American Mortgage won't be able to sue the officers,
directors, employees and advisers.  Shareholders wouldn't be able
to file derivative suits in which they sue on behalf of the
company.

Mr. Rochelle adds that the Plan reduces the extent of American
Mortgage's indemnification of its directors and officers.  After
the Plan is confirmed, the directors and officers will be
indemnified only to the extent that there was a pre-bankruptcy law
or agreement that called for indemnification.  The surviving
indemnification obligations will represent unsecured claims
against American Mortgage that won't be wiped out by the Plan.

The Plan, according to Mr. Rochelle, does give protection from
claims to those who participate in the plan negotiation and
confirmation process, as long as there was no gross negligence or
willful misconduct.

Creditors have until Sept. 23 to vote on the plan.

Under the Plan, the Debtor will transfer bonds and $100,000 to
unsecured creditor Taberna Preferred Funding I, Ltd., in
satisfaction of its claims.  The existing stock will be cancelled,
and the Reorganized Debtor will issue new common stock to
unsecured creditor C3 Initial Assets LLC in satisfaction of C3's
claims.  Other unsecured creditors, as well as administrative
claimants and secured creditors, will be paid in full.  Holders of
equity interests won't receive any distributions.

                      About American Mortgage

American Mortgage Acceptance Co. is a New York-based real estate
investment trust.  It filed for Chapter 11 protection on April 26,
2010 (Bankr. S.D.N.Y. Case No. 10-12196).  Carol A. Felicetta,
Esq., at Reid and Riege, P.C., and Sherri D. Lydell, Esq., and
Teresa Sadutto-Carley, Esq., at Platzer, Swergold, Karlin, Levine
Goldberg & Jaslow, LLP, assist the Company in its restructuring
effort.  The Company scheduled assets totaling $6,366,680 and
debts totaling $119,968,443 as of the Petition Date.


AMERICAN SAFETY: Second-Lien Lenders Want to Propose Own Plan
-------------------------------------------------------------
Santosh Nadgir at Reuters reports that junior lenders of American
Safety Razor Co. want to propose their own restructuring cure for
the bankrupt company in place of the current plan proposed by
management.  BlackRock Kelso Capital Corp and GSO/Blackstone Debt
Funds Management LLC, who together hold about $49.2 million of
American Safety Razor's second-lien debt, asked a bankruptcy court
to allow an alternative plan.  The Debtor's current restructuring
proposal involves selling off the company to its first-lien
lenders, led by UBS AG, for an undisclosed amount.  The second-
lien lenders are represented by Robert Stark of Brown Rudnick.

                       About American Safety

American Safety Razor Company, LLC, doing business as Personna
American Safety Razor, is a maker of 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 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.


ANTHONY O'NEILL: Case Summary & 12 Largest Unsecured Creditors
--------------------------------------------------------------
Joint Debtors: Anthony T. O'Neill
               Patricia M. O'Neill
               405 West Evans Boulevard
               Brigantine, NJ 08203

Bankruptcy Case No.: 10-35520

Chapter 11 Petition Date: August 19, 2010

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

Judge: Judith H. Wizmur

Debtor's Counsel: Moshe Rothenberg, Esq.
                  LAW OFFICE OF MOSHE ROTHENBERG
                  718 East Landis Avenue
                  Vineland, NJ 08360
                  Tel: (856) 236-4374
                  Fax: (856) 691-4122
                  E-mail: mosherothenberg@hotmail.com

Scheduled Assets: $851,475

Scheduled Debts: $1,526,361

A list of the Joint Debtors' 12 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/njb10-35520.pdf


ARIZONA HEART: Balks at U.S. Trustee's Bid for Bankruptcy Notice
----------------------------------------------------------------
Dow Jones DBR Small Cap reports that Arizona Heart Institute Ltd.
is objecting to a demand by the United States Trustee that the
Debtor provide patients notice of its bankruptcy case.  Arizona
Heart warned in court papers Tuesday that the U.S. trustee's
notice request will "needlessly frighten" the patients, "resulting
in further economic loss and jeopardizing the sale" of the
company's assets.

According to Dow Jones, the U.S. Bankruptcy Court in Phoenix is
scheduled to consider the U.S. trustee's notice request at a
hearing on Monday.

Arizona Heart filed for bankruptcy protection on July 30 after
falling behind on payments to a number of creditors because of a
decline in medical reimbursement from Medicare and insurers.
Since then, the company has asked the bankruptcy court for
permission to auction off its assets.

As reported in the Troubled Company Reporter on August 20, the
Debtor endorsed a pending deal with Vanguard Health's subsidiary,
Hospital Development Number 1, Inc., to acquire both Arizona Heart
Hospital and Arizona Heart Institute for $6.1 million.

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.

The Bankruptcy Court is slated to consider the U.S. Trustee's sale
objection at a 2:30 p.m. hearing today.

                       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.


ASCENDIA BRANDS: Court Extends DIP Loan Expiration Until Dec. 31
----------------------------------------------------------------
Ascendia Brands, Inc., and its units obtained approval to continue
accessing financing facility syndicated by Wells Fargo Foothill,
Inc., until December 31, 2010.  According to the Court's 13th
order allowing access to the DIP financing, the Debtors will use
the money pursuant to the budget, a copy of which is available for
free at http://bankrupt.com/misc/ASCENDIA_BRANDS_budget1.pdf

As reported by the TCR on March 25, 2010, the Debtors' ability
to borrow under the DIP facility was originally set to expire on
March 31, 2010.  According to the TCR in September 2008, Judge
Shannon authorized the Debtors to obtain, on a final basis, up to
$26,428,000 in postpetition financing, pursuant to a DIP loan
agreement dated August 5, 2008.  A full-text copy of the Debtors'
DIP loan agreement dated Aug. 5, 2008, is available for free
at http://ResearchArchives.com/t/s?3083

                       About Ascendia Brands

Headquartered in Hamilton, New Jersey, Ascendia Brands, Inc. --
http://www.ascendiabrands.com/-- was, prior to the sale of
substantially all of its assets during bankruptcy, a manufacturer
and seller of branded and private labeled health and beauty care
products in North America, including Baby Magic, Binaca, Mr.
Bubble, Calgon, Ogilvie, the healing garden, Lander and Lander
Essentials.  Remaining assets consist almost entirely of accounts
receivable.

The Company and six of its affiliates filed for Chapter
11 protection on August 5, 2008 (Bankr. D. Del. Lead Case No.
08-11787).  Kenneth H. Eckstein, Esq., and Robert T. Schmidt,
Esq., at Kramer Levin Naftalis & Frankel LLP, represent the
Debtors in their restructuring efforts.  M. Blake Cleary, Esq.,
Edward J. Kosmoswki, Esq., and Patrick A. Jackson, Esq., at Young,
Conaway, Stargatt & Taylor, LLP, serve as the Debtors' Delaware
counsel.  Epiq Bankruptcy Solutions LLC is the notice, claims and
balloting agent to the Debtors.

At July 5, 2008, Ascendia Brands, Inc., had $194,800,000 in total
assets and $279,000,000 in total debts.


ASHRAY CORP: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Ashray Corp.
          dba Ojaswi Restaurant
          dba Canterbury Inn
        1900 Canterbury Rd
        Sacramento, CA 95815

Bankruptcy Case No.: 10-41932

Chapter 11 Petition Date: August 18, 2010

Court: United States Bankruptcy Court
       Eastern District of California (Sacramento)

Judge: Robert S. Bardwil

Debtor's Counsel: Mohammad M. Mokarram, Esq.
                  LAW OFFICE OF MO MOKARRAM
                  1395 Garden Hwy #150
                  Sacramento, CA 95833
                  Tel: (916) 284-9850

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

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

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

The petition was signed by Samjhana Shrestha, president.


ATLAS PIPELINE: Moody's Reviews 'B3' Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service placed Atlas Pipeline Partners, L.P.'s
B3 Corporate Family Rating under review for possible upgrade
following the announcement of its agreement to sell the Elk City
Gathering and Processing System to Enbridge Energy Partners, L.P.,
for $682 million.  The review will also cover Atlas' B1 senior
secured debt rating and its Caa2 senior unsecured note rating.

"Using the sales proceeds from the sale of the Elk City System to
reduce debt will address Moody's primary credit concerns for Atlas
including high leverage, limited liquidity, and a lack of
visibility into Atlas' plans to fund the anticipated capital calls
from the Laurel Mountain joint venture in Appalachia," said Stuart
Miller, Vice President.  "Although the sale will have a material
impact on Atlas' revenues, Moody's expect the savings in interest
expense, G&A expense, and maintenance capital expenditures to
result in a comparable level of cash flow."  In addition, much of
Atlas' "keep whole" contract risk will be eliminated with the sale
of the Elk City System resulting in a less volatile earnings
stream.

The closing of the Elk City System sale is expected to occur
before the end of October 2010 at which time the final rating
level will be determined.  The rating review will take into
account the amended terms of the company's senior secured credit
facility and the projected cash flow coverage of capital
expenditures and distributions, as well as the underlying
operating performance of Atlas' remaining asset base.

The last rating action on Atlas was on May 5, 2009, at which time
the company's Corporate Family Rating and Probability of Default
Rating were downgraded to B3 from B1, its Secured Bank Facility
Rating and Secured Term Loan Rating was downgraded to B1 from Ba2,
and its unsecured rating was downgraded to Caa2 from B3.  The
rating outlook was negative.

Atlas Pipeline Partners, L.P., is a publicly traded master limited
partnership engaged primarily in the gathering, processing, and
transportation segments of the midstream natural gas industry.
Atlas is headquartered in Philadelphia, PA.

Moody's Investors Service adopts all necessary measures so that
the information it uses in assigning a credit rating is of
sufficient quality and from reliable sources; however, Moody's
Investors Service does not and cannot in every instance
independently verify, audit or validate information received in
the rating process.


B D OPERATIONS: Case Summary & 11 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: B D Operations, LLC
        3522 Grand Avenue
        Phoenix, AZ 85019

Bankruptcy Case No.: 10-26320

Chapter 11 Petition Date: August 19, 2010

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Sarah Sharer Curley

Debtor's Counsel: Stanford E. Lerch, Esq.
                  LERCH & DEPRIMA PLC
                  4000 N Scottsdale Road, Suite 107
                  Scottsdale, AZ 85251
                  Tel: (480) 212-0700
                  Fax: (480) 212-0705
                  E-mail: slerch@ldlawaz.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 11 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/azb10-26320.pdf

The petition was signed by Stuart Char, managing member.


BANKUNITED FINANCIAL: Has Plan Exclusivity Until November 22
------------------------------------------------------------
Bill Rochelle, columnist at Bloomberg News, reports that the U.S.
Bankruptcy Court granted BankUnited Financial Corp. a last
allowable extension of the exclusive period to propose and solicit
acceptances of a Chapter 11 plan.  It plans filing period now
expires November 22.

BankUnited said that the ability to offset future earnings against
its net operating losses will be built into a "structured
transaction" underpinning a Chapter 11 plan.  Mr. Rochelle relates
that although BankUnited listed only $21 million in assets, its
largest asset may be a $3.6 billion net operating loss (NOL)
carryforward.  The Internal Revenue Service hasn't said whether it
will adjust the so-called NOL.

BankUnited also said that several lawsuits remain to be resolved.

                    About BankUnited Financial

BankUnited Financial Corp. (OTC Ticker Symbol: BKUNQ) --
http://www.bankunited.com/-- was the holding company for
BankUnited FSB, the largest banking institution headquartered in
Coral Gables, Florida.  On May 21, 2009, BankUnited FSB was closed
by regulators and the Federal Deposit Insurance Corporation
facilitated a sale of the bank to a management team headed by John
Kanas, a veteran of the banking industry and former head of North
Fork Bank, and a group of investors led by W.L. Ross & Co.
BankUnited, FSB, had assets of $12.8 billion and deposits of
$8.6 billion as of May 2, 2009.

The Company and its affiliates filed for Chapter 11 on May 22,
2009 (Bankr. S.D. Fla. Lead Case No. 09-19940).  Stephen P.
Drobny, Esq., and Peter Levitt, Esq., at Shutts & Bowen LLP; Mark
D. Bloom, Esq., and Scott M. Grossman, Esq., at Greenberg Traurig,
LLP; and Michael C. Sontag, at Camner, Lipsitz, P.A., represent
the Debtors as counsel.  Corali Lopez-Castro, Esq., David Samole,
Esq., at Kozyak Tropin & Throckmorton, P.A.; and Todd C. Meyers,
Esq., at Kilpatrick Stockton LLP, serve as counsel to the official
committee of unsecured creditors.

In its bankruptcy petition, BankUnited Financial Corp. said it has
assets of $37,729,520 against debts of $559,740,185.

Wilmington Trust Co., U.S. Bank, N.A., and the Bank of New York
were listed among the company's largest unsecured creditors in
their roles as trustees for security issues.  BankUnited estimated
the Bank of New York claim tied to convertible securities at
$184 million.  U.S. Bank and Wilmington Trust are owed $120
million and $118.171 million on account of senior notes.


BIOLASE TECHNOLOGY: Shareholders' Equity Fails Nasdaq Requirement
-----------------------------------------------------------------
Biolase Technology, Inc. received a letter on August 18, 2010 from
NASDAQ, stating that BIOLASE is not in compliance with the NASDAQ
Capital Market's minimum stockholders' equity continued listing
requirement of $2.5 million.  As of June 30, 2010, BIOLASE's
stockholders' equity was approximately negative $1.3 million.

BIOLASE can submit a detailed plan of compliance by October 4,
2010, advising NASDAQ of the action BIOLASE has taken, or plans to
take, that would bring it into compliance with this requirement.
Alternatively, BIOLASE could return to compliance if it satisfied
the market value of listed securities or net income from
continuing operations listing requirements, which stand as
alternatives to the minimum stockholders' equity continued listing
requirement.

If BIOLASE submits a plan of compliance and NASDAQ does not accept
the Company's plan, NASDAQ may then initiate delisting proceedings
from the NASDAQ Capital Market, at which time BIOLASE may appeal
NASDAQ's determination to a Listing Qualifications Panel.

                    About Biolase Technology

Irvine, Calif.-based BIOLASE Technology, Inc. is medical-
technology company that develops, manufactures and markets lasers,
related products and services focused on technologies for improved
applications and procedures in dentistry and medicine.

                          *     *     *

As reported in the Troubled Company Reporter on March 22, 2010,
BDO Seidman, LLP, in Costa Mesa, Calif., expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that the Company has suffered
recurring losses from operations, has had declining revenues, has
limited financial resources at December 31, 2009, and is
substantially dependent upon its primary distributor for future
purchases of the Company's products.


BLOCKBUSTER INC: Says it May Be Required to File for Chapter 11
---------------------------------------------------------------
Blockbuster Inc. filed its quarterly report on Form 10-Q, saying
that it is in talks with noteholders and other parties on a
balance sheet restructuring and that it might be required to seek
Chapter 11 protection.

"We are experiencing liquidity constraints and have amortization
and other debt service requirements.  As such, we are currently in
discussions with our senior secured and senior subordinated
noteholders as well as other strategic parties in an effort to
restructure our balance sheet and acquire additional capital
funding," Blockbuster said in its Form 10-Q.

"We can give no assurance that we will successfully execute the
recapitalization initiatives we are currently pursuing or any
others, and our ability to do so could be adversely affected by
numerous factors, including changes in the economic or business
environment, financial market volatility, the performance of our
business, and the terms and conditions of our various debt
agreements and indentures.  It is possible that even a successful
implementation of the recapitalization initiatives we are pursuing
will require us to make a filing for protection under Chapter 11
of the U.S. Bankruptcy Code."

During the remainder of 2010, the Company expects to continue to
take actions to improve liquidity.  It added, "We expect to reduce
general and administrative expenses, continue to rationalize the
domestic store portfolio and work to divest international assets.
In addition, our 2010 global capital expenditures will remain at
maintenance levels of approximately $30 million, and we will
continue to manage working capital.  We also continue to explore a
variety of strategic alternatives to strengthen our capital
structure and position us for success in our transformational
efforts."

The Company added that it is in discussions with our senior
secured and senior subordinated noteholders as well as potential
strategic parties in an effort to restructure its balance sheet
and acquire additional capital funding.  Consistent therewith, the
senior secured and senior subordinated noteholders have formed
committees, have retained advisors, with which we are engaged in
negotiations, and continue to conduct due diligence on
Blockbuster.

                        Second Quarter Results

The Company reported a net loss of $69.3 million on $788.3 million
of revenues for the 13 weeks ended July 4, 2010, compared with a
net loss of $39.7 million on $981.8 million of revenues for the
same period a year ago.

The Company's balance sheet at July 4, 2010, showed $1.16 billion
in total assets, $1.61 billion in total liabilities, and
$45 million in stockholders' deficit.

The Company incurred a net loss from operations for the 26 weeks
and fiscal year ended July 4, 2010 and Jan. 3, 2010, respectively,
had negative working capital as of July 4, 2010, and had a
stockholders' deficit as of July 4, 2010 and January 3, 2010.  In
addition, the increasingly competitive industry conditions under
which it operates have negatively impacted its results of
operations and cash flows and may continue to do so in the future.
"These factors raise substantial doubt about its ability to
continue as a going concern," the Company said in its Form 10-Q.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?69e8

                     About Blockbuster Inc.

Blockbuster Inc. -- http://www.blockbuster.com/-- is a global
provider of rental and retail movie and game entertainment.  It
has a library of more than 125,000 movie and game titles.

The Company's balance sheet as of April 4, 2010, showed
$1.319 billion in assets, $1.693 billion in liabilities, and a
stockholders' deficit of $374.2 million.

PricewaterhouseCoopers LLP, in Dallas, expressed substantial doubt
about the Company's ability to continue as a going concern
following Blockbuster's 2009 results.

In February 2010, Blockbuster hired law firm Weil, Gotshal &
Manges and investment bank, Rothschild Inc., to explore strategies
for cutting the Company's $1 billion debt load.

In March 2010, the Company said it was seeking to refinance its
debt and could be forced into bankruptcy.  Blockbuster has
received from bondholders a series of moratoriums on payment of
principal and interest, the latest of which expires September 30,
2010.  According to Bloomberg News, Blockbuster received the
latest one-month reprieve from creditors so it can prepare for a
possible bankruptcy filing in September.


BLOOMINGTON MOTOR: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Bloomington Motor Carriers, Inc.
        101 West Kirkwood Avenue, Suite 224
        Bloomington, IN 47404-6135

Bankruptcy Case No.: 10-12487

Chapter 11 Petition Date: August 18, 2010

Court: United States Bankruptcy Court
       Southern District of Indiana (Indianapolis)

Judge: Basil H. Lorch III

Debtor's Counsel: Harley K. Means, Esq.
                  KROGER GARDIS & REGAS, LLP
                  111 Monument Circle, Suite 900
                  Indianapolis, IN 46204-5125
                  Tel: (317) 777-7439
                  Fax: (317) 777-7439
                  E-mail: hkm@kgrlaw.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/insb10-12487.pdf

The petition was signed by John E. Stackhouse, president/CEO.


BLYN II: Case Summary & 13 Largest Unsecured Creditors
------------------------------------------------------
Debtor: BLyn II Holding, LLC
        467 E. Beasley
        Aransas Pass, TX 78336

Bankruptcy Case No.: 10-20642

Chapter 11 Petition Date: August 19, 2010

Court: United States Bankruptcy Court
       Southern District of Texas (Corpus Christi)

Judge: Richard S. Schmidt

Debtor's Counsel: Shelby A. Jordan, Esq.
                  JORDAN HYDEN WOMBLE AND CULBRETH, PC
                  500 N. Shoreline, Suite 900 N
                  Corpus Christi, TX 78471
                  Tel: (361) 884-5678
                  Fax: (361) 884-5616
                  E-mail: ecf@jhwclaw.com

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

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

A list of the Company's 13 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txsb10-20642.pdf

The petition was signed by James R. McCord, manager.


BOSTON GENERATING: Asks for Court's Nod to Use Cash Collateral
--------------------------------------------------------------
Boston Generating, LLC, et al., ask for authorization from the
U.S. Bankruptcy Court for the Southern District of New York to use
until June 18, 2011, cash that constitute as collateral of their
prepetition lenders.

The Debtors owe at least $1,279,450,000 to the first lien lenders,
led by Credit Suisse AG as administrative agent.  The Debtors also
owe at least $350,000,000 to second lien lenders, led by
Wilmington Trust FSB, as administrative agent.

D. J. Banker, Esq., at Latham & Watkins LLP, explains the Debtors
need the cash collateral 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/BOSTON_GENERATING_budget.pdf

In exchange for using the cash collateral, the Debtors propose to
grant replacement liens upon all property to the first lien
lenders and second lien lenders.  To the extent of diminution of
value, the first lien lenders will be granted allowed super-
priority administrative claims.  As further adequate protection,
the Debtors will:

   (i) within three business days of the entry of an interim
       order granting access to cash collateral, pay to Credit
       Suisse $5,175,421 cash;

  (ii) on a monthly basis pay Credit Suisse interest on the unpaid
       principal amount of the loans outstanding for the benefit
       of the first lien lenders, plus fees for the benefit of the
       revolving credit lenders and synthetic letter of credit
       lenders under the first lien credit agreement.

(iii) timely pay in cash all reasonable out of pocket fees,
       costs and expenses of Credit Suisse and its professionals,
       Wachtell, Lipton, Rosen & Katz and Capstone Advisory Group,
       LLC, on a regular monthly basis during the cases; and

  (iv) deliver to Credit Suisse information, reports, documents
       and other material that it may reasonably request.

                      About Boston Generating

New York-based Boston Generating, LLC, owns nearly 3,000 megawatts
of mostly modern natural gas-fired power plants in the Boston
area.  Privately held Boston Generating 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 for 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: Taps Perella Weinberg as Financial Advisor
-------------------------------------------------------------
Boston Generating, LLC, et al., ask for authorization from the
U.S. Bankruptcy Court for the Southern District of New York to
employ Perella Weinberg Partners LP as financial advisor, nunc pro
tunc to the Petition Date.

PWP will, among other things:

     a. continue to review the Debtors' financial condition and
        outlook;

     b. assist in the development of financial data and
        presentations to the Debtors' board of directors, various
        creditors and other parties;

     c. analyze the financial liquidity of the Debtors and
        evaluate alternatives to improve the liquidity; and

     d. participate in negotiations among the Debtors, and related
        creditors, suppliers, lessors and other interested parties
        with respect to any of contemplated transactions.

The Debtors and PWP have agreed on a compensation structure in
considered for the services to be rendered by the firm:

   (a) a monthly fee of $175,000 payable in advance on the first
       day of each month;

   (b) a $2,000,000 fee payable following consummation of the
       modification of the Debtors' prepetition credit agreement;

   (c) a restructuring fee equal to 0.75% of the principal amount
       of all outstanding obligations, but in no even more than
       $7,500,000;

   (d) a financing fee based on a percentage of the amount of
       financing received by the Debtors, which fee will not
       exceed $2,000,000;

   (e) a transaction fee; and

   (f) reimbursement of all reasonable out-of-pocket expenses.

Derron Slonecker, a partner at PWP, 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 Boston Generating, LLC, owns nearly 3,000 megawatts
of mostly modern natural gas-fired power plants in the Boston
area.  Privately held Boston Generating 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 for the Debtors.  JP Morgan Securities is the Debtors'
investment banker.  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: Proposes Constellation-Led Auction on Oct. 29
----------------------------------------------------------------
Boston Generating, LLC and its affiliates ask the U.S. Bankruptcy
Court for the Southern District of New York to approve proposed
bidding procedures in connection with the sale of substantially
all of their assets.

Under an August 7, 2010 asset purchase agreement, the Debtors will
sell the assets to Constellation Holdings, Inc., for
$1.10 billion.  In the event that the Stalking Horse Bidder isn't
chosen as the winning bidder, the Stalking Horse Bidder will
receive a break-up fee of $30 million and up to $5 million for
reimbursement of expenses.

The Debtors propose that:

     a. September 9, 2010, at 4:00 p.m., prevailing Eastern Time,
        be the deadline for objections to the bidding procedures;

     b. September 16, 2010, be the date for the hearing of the
        proposed bidding procedures;

     c. October 4, 2010, be the last date by which potential
        bidders may deliver preliminary bid documents required to
        participate in the auction;

     d. October 25, 2010, at 4:00 p.m., prevailing Eastern Time,
        be the deadline for objections to the sale and/or the
        assumption and assignment of assumed contracts or cure
        amounts related thereto;

     e. October 25, 2010, at 5:00 p.m. prevailing Eastern Time, be
        the deadline by which all binding bids must be actually
        received pursuant to the bidding procedures;

     f. October 29, 2010, be the date of the auction, if one is
        needed; and

     g. November 2, 2010, be the date for the sale hearing.

Bids must be at least exceed the sum of (i) the proposed cash
purchase price; (ii) the Assumed Liabilities; (iii) the Break-Up
and expense reimbursement amount; (iv) any amount required to be
reimbursed to the Stalking Horse Bidder pursuant to the APA; and
(v) the minimum bid increment of $20,000,000.  A $50 million
deposit, which will be held in escrow, is required.

A copy of the APA and bidding procedures is available for free at:

               http://ResearchArchives.com/t/s?69df

                      About Boston Generating

New York-based Boston Generating, LLC, owns nearly 3,000 megawatts
of mostly modern natural gas-fired power plants in the Boston
area.  Privately held Boston Generating 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 for 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.


BROADWAY 401: Restructuring Plan Consummated; Court Closes Case
---------------------------------------------------------------
The Hon. Kevin J. Carey of the U.S. Bankruptcy Court for the
District of Delaware entered a final decree closing the Chapter 11
cases of Broadway 401 LLC, et al.

The Debtors requested the Court to close the cases because their
Chapter 11 Plan have been consummated and all of their properties
were transferred and disbursed.

Broadway 401 LLC owns the Dumont Condominiums in Washington.

New York-based Broadway 401 LLC, along with Broadway Mass
Associates LLC, and Broadway Mass TIC I LLC, is owned by Lazar
Muller, Samuel Weiss, Charles Herzka, David Weldler and the 1997
Neumann Family Trust.  The Debtors acquired the property located
at 401 Massachusetts Ave. and 425 Massachusetts Ave. between
December 2004 and January 2006 for more than $47 million.  Since
that time, they've improved the properties with two 14-story
residential towers containing 559 residential condominiums.  The
towers are known as "The Dumont" and are reportedly "vacant but
essentially . . . complete and ready for occupancy."

Broadway 401 filed for Chapter 11 bankruptcy protection on
January 11, 2010 (Bankr. D. Delaware Case No. 10-10070).  The
Company's affiliates -- Broadway Mass Associates LLC; Broadway
Mass TIC I LLC, et al. -- filed separate Chapter 11 petitions.
Jamie Lynne Edmonson, Esq., at Bayard PA, assisted the Debtors in
their restructuring efforts.

Broadway 401 estimated assets and liabilities at $100 million to
$500 million in its Chapter 11 petition.


BROWN PUBLISHING: In Talks to Sell Assets to 2nd Highest Bidder
---------------------------------------------------------------
The Associated Press reports that Brown Publishing Co. told the
Bankruptcy Court on Friday that an insiders group cannot complete
its bankruptcy auction purchase of the Ohio-based newspaper chain
because the group's lender withdrew.  According to the AP, the
Debtor said Brown Media Corp. on Aug. 18 had confirmed it "lacked
the financial ability to close at this time" because "its lender
has withdrawn."  The lender was not identified in the court
filing.

According to the AP, Brown Publishing said it has begun
discussions with PNC Bank as the next highest bidder and believes
it "will be in a position to close an asset sale transaction with
PNC."  PNC, which led the group of the chain's senior creditors,
has said it hopes to close no later than September 3, the filing
said.

The AP relates PNC spokesman Pat McMahon said Monday that he could
not comment beyond the court filing.

The AP relates the Court last month ruled that the newly formed
Brown Media Corp., led by current Brown Publishing president and
CEO Roy Brown, could buy the majority of the chain for $22.4
million.

The AP notes the Debtor's filing did not indicate how much PNC bid
for the chain.

The AP further relates Brown Publishing also asked the court to
allow it to continue using cash collateral to operate through
September 3.  The Debtor said it would be forced to shut down
operations if the court does not authorize continued use of the
cash collateral.

                  About Brown Publishing Company

Headquartered in Cincinnati, Ohio, The Brown Publishing Company
owns business publications in Ohio, Utah, Texas, South Carolina,
New York, and Iowa.  Brown publishes 15 daily, 32 weekly, 11
business and 41 free publications.  There are also 51 websites.
Seventy-eight of the publications are in Ohio. Brown publishes
Dan's Papers, the weekly newspaper with the largest circulation in
the area of eastern Long Island, New York, known as the Hamptons.
Brown also publishes the Montauk Pioneer, which it calls the
official newspaper of Montauk, New York.

The Company filed for Chapter 11 bankruptcy protection on
April 30, 2010 (Bankr. E.D.N.Y. Case No. 10-73295).  Edward M.
Fox, Esq., at K&L Gates LLP, assists the Company in its
restructuring effort.  The Company estimated $10 million to
$50 million in assets and debts in its Chapter 11 petition.


CAVE LAKES: Taps Neil J. Beller as Bankruptcy Counsel
-----------------------------------------------------
Cave Lakes Canyon, LLC, asks for authorization from the U.S.
Bankruptcy Court for the District of Nevada to employ the law
offices of Neil J. Beller, Ltd., as bankruptcy counsel.

Neil J. Beller will:

     a. provide analysis of the Debtor's financial situation;

     b. prepare and file any petition, schedules, statement of
        affairs and plan which may be required;

     c. represent the Debtor at the meeting of creditors and
        confirmation hearing, and any adjourned hearings thereof;
        and

     d. represent the Debtor in adversary proceedings and other
        contested bankruptcy matters.

Neil J. Beller, Esq., who is employed by the law offices of Neil
J. Beller, assures the Court that the firm is "disinterested" as
that term is defined in Section 101(14) of the Bankruptcy Code.

Las Vegas, Nevada-based Cave Lakes Canyon, LLC, filed for Chapter
11 bankruptcy protection on July 1, 2010 (Bankr. D. Nev. Case No.
10-22419).  In its schedules, the Debtor disclosed $18,283,110 in
total assets and $4,122,607 in total liabilities as of the
Petition Date.


CENTRAL METAL: Plan Confirmation Hearing Scheduled for October 28
-----------------------------------------------------------------
The Hon. Vincent P. Zurzolo of the U.S. Bankruptcy Court for the
Central District of California will consider on October 28, 2010,
at 1:30 p.m., Pacific Standard Time, the confirmation of Central
Metal, Inc.'s Plan of Reorganization, as amended.  Objections, if
any are due on August 27.

Ballots accepting or rejecting the Plan are due 5:00 p.m., on
August 27.  The Debtor must file by October 7, a summary of the
outcome of the voting.

Under the Plan, all holders of secured claims and priority claims
will be paid in full from the post-confirmation income of the
Debtor.  Holders of general unsecured claims amounting to
$1,000,000 will be paid in four payments, each at $250,000.
Interest holder, Jong Uk Byun will receive no payments under the
Plan.

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

The Debtor is represented by:

     Monica Y. Kim, Esq.
     Juliet Y. Oh, Esq.
     LEVENE, NEALE, BENDER, YOO & BRILL L.L.P.
     10250 Constellation Blvd., Suite 1700
     Los Angeles, California 90067
     Tel: (310) 229-1234
     Fax: (310) 229-1244
     E-mail: myk@lnbyb.com
             jyo@lnbyb.com

                     About Central Metal, Inc.

Huntington Park, California-based Central Metal, Inc., is a fully
integrated scrap metal processing company that purchases,
processes and sells ferrous and non-ferrous metals domestically
and internationally.  The Company is one of the largest processing
companies on the West Coast, has one of the largest land sites and
processing capacities, and is fully diversified in its business
portfolio that entails dynamic trading relationships with renowned
metal manufacturers around the world.

The Company filed for Chapter 11 bankruptcy protection on
January 8, 2010 (Bankr. C.D. Calif. Case No. 10-10642).  Juliet Y.
Oh, Esq., who has an office in Los Angeles, California, assists
the Debtor in its restructuring effort.  The Company estimated
assets and liabilities at $10 million to $50 million in its
Chapter 11 petition.


CLAIRE'S STORES: To Report $334MM in Sales for July 31 Quarter
--------------------------------------------------------------
Claire's Stores Inc. reported its selected preliminary, unaudited
financial results for the 2010 second quarter, which ended
July 31, 2010.

The Company expects to report net sales of $334 million for the
2010 second quarter, an increase of $20 million, or 6.4%, compared
to the 2009 second quarter.  The increase was attributable to an
increase in same store sales and new store sales, partially offset
by foreign currency translation effect of our foreign locations'
sales and closed stores.  Sales would have increased 9.5%
excluding the impact from foreign currency rate changes.

The company said, "Consolidated same store sales increased 8.9%
in the 2010 second quarter.  In North America, same store sales
increased 9.0% and European same store sales increased 8.7%.  Our
same store sales trend in the second quarter continues thus far in
the third quarter.  As a point of reference, our fiscal 2009 third
quarter same store sales declined 0.3%.  We compute same store
sales on a local currency basis, which eliminates any impact from
changes in foreign exchange rates."

Adjusted EBITDA in the 2010 second quarter is expected to be
between $54 million and $56 million, compared to $50.5 million in
the 2009 second quarter.  The Company defines Adjusted EBITDA as
earnings before interest, income taxes, gain from early debt
extinguishment, depreciation and amortization, excluding the
impact of transaction-related costs incurred in connection with
its May 2007 acquisition and other non-recurring or non-cash
expenses, and normalizing occupancy costs for certain rent-related
adjustments.

At July 31, 2010, cash and cash equivalents were $160 million, and
$194 million continued to be drawn on the Company's Revolving
Credit Facility.  In addition, during the 2010 second quarter, the
Company paid $42 million to retire $42 million of Senior Toggle
Notes and $7 million of Senior Subordinated Notes.

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?6995

                      About Claire's Stores

Claire's Stores, Inc. -- http://www.clairestores.com/-- operates
as a specialty retailer of fashion accessories and jewelry for
preteens and teenagers, as well as for young adults in North
America and internationally.  It offers jewelry products that
comprise costume jewelry, earrings, and ear piercing services; and
accessories, including fashion accessories, hair ornaments,
handbags, and novelty items.

Based in Pembroke Pines, Florida, Claire's Stores operates under
two brands: Claire's(R), which operates worldwide and Icing(R),
which operates only in North America.  As of Jan. 31, 2009,
Claire's Stores, Inc., operated 2,969 stores in North America and
Europe.  Claire's Stores, Inc., also operates through its
subsidiary, Claire's Nippon, Co., Ltd., 213 stores in Japan as a
50:50 joint venture with AEON, Co., Ltd.  The Company also
franchises 198 stores in the Middle East, Turkey, Russia, South
Africa, Poland and Guatemala.

Claire's Stores, Inc., reported a net loss of $12,300,000 for the
three months ended May 1, 2010, from a net loss of $29,023,000 for
the three months ended May 2, 2009.  Net sales were $322,077,000
for the three months ended May 1, 2010, from $293,098,000 for the
three months ended May 2, 2009.

At May 1, 2010, the Company had total assets of $2,828,167,000;
total current liabilities of $189,612,000, long-term debt of
$2,297,603,000; revolving credit facility of $194,000,000,
obligations under capital leases of $17,290,000, deferred tax
liability of $121,156,000; deferred rent expense of $22,680,000,
unfavorable lease obligations and other long-term liabilities of
$34,070,000; and a stockholder's deficit of $48,244,000.


CLEMENT CARINALLI: Plan Confirmation Hearing Set for October 1
--------------------------------------------------------------
The Hon. Alan Jaroslovsky of the U.S. Bankruptcy Court for the
Northern District of California will consider on October 1, 2010,
at 10:00 a.m. (Pacific Time), the confirmation of the proposed
Plan of Reorganization for Clement C. and Ann Marie Carinalli.
The hearing will be held at 99 South E. Street, Santa Rosa,
California.

The Court also fixed 4:00 p.m. on September 17, as the objection
and voting deadline.

The Debtors and the Official Committee of Unsecured Creditors are
co-proponents to the Plan.

Under the Plan, creditors' trustee is expected to pay:

   (i) 10% of all allowed general unsecured claims for creditors
       who have chosen early payment, within approximately 18
       months or earlier; and

  (ii) between 26.7% and 55.7% of all allowed general unsecured
       claims for creditors who have chosen to receive payments
       over a more extended time period spanning approximately
       five years, using the cash generated by the sale of most or
       all of the Debtors' non-exempt assets that have equity
       value.

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

The Debtors are represented by:

     Merle C. Meyers, Esq.
     Edie Walters, Esq.
     D. Clarke Sugar, Esq.
     MEYERS LAW GROUP, P.C.
     44 Montgomery Street, Suite 1010
     San Francisco, CA 94104
     Tel: (415) 362-7500
     Fax: (415) 362-7515
     E-mail: mmeyers@mlg-pc.com
             ewalters@mlg-pc.com
             csugar@mlg-pc.com

The Creditors Committee is represented by:

     John D. Fiero, Esq.
     Maxim B. Litvak, Esq.
     PACHULSKI, STANG ZIEHL & JONES LLP
     150 California Street, 15th Floor
     San Francisco, CA 94111
     Tel: (415) 263-7000
     Fax: (415) 263-7010
     E-mail: jfiero@pszjlaw.com
            mlitvak@pszjlaw.com

                        About Clem Carinalli

On Sept. 14, 2009, an involuntary chapter 7 bankruptcy petition
was filed against Sonoma, California's biggest real estate
investor Clement C. Carinalli and his wife, Ann Marie Carinalli,
(Bankr. N.D. Calif. Case No. 09-12986).  On Sept. 29, 2009, the
case was converted to Chapter 11.  The Carinallis are now joint
debtors in possession.  Honorable Alan Jaroslovsky is the
presiding judge.


CLIFFORD DUMAS: Case Summary & 7 Largest Unsecured Creditors
------------------------------------------------------------
Joint Debtors: Clifford Andrew Dumas
               Lisa Dianne Dumas
               5828 Blazing Star Lane
               San Diego, CA 92130

Bankruptcy Case No.: 10-14829

Chapter 11 Petition Date: August 20, 2010

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

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

Scheduled Assets: $1,215,167

Scheduled Debts: $1,504,183

A list of the Joint Debtors' seven largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/casb10-14829.pdf


COMPLIANCE SYSTEMS: Posts $580,000 Net Loss in June 30 Quarter
--------------------------------------------------------------
Compliance Systems Corporation filed its quarterly report on Form
10-Q, reporting a net loss of $579,974 on $317,271 of revenues for
the three months ended June 30, 2010, compared with a net loss of
$373,658 on $277,777 of revenues for the same period a year
earlier.

The Company's balance sheet at June 30, 2010, showed $1.58 million
in total assets, $4.65 million in total liabilities, and
$3.07 million in stockholders' deficit.

The Company noted that it has suffered continued losses from
operations since its inception and incurred a net loss of
$1,233,019 for the six months ended June 30, 2010.  The Company
had stockholders' deficiencies of $3,065,813 and $2,297,933 and
working capital deficiencies of $4,123,226 and $2,147,256 at
June 30, 2010 and December 31, 2009, respectively.

The Company said in the Form 10-Q, "The prolonged trend of net
losses incurred over the last eight fiscal years raises
substantial doubt about the Company's ability to continue as a
going concern.  Such continuation is dependent upon the Company's
ability to obtain additional financing, increase revenues, control
costs and operate profitably.  To this end, the Company retained
an investment banking firm and completed an acquisition of
Execuserve Corp. that may diversify the Company's range of
products and services.  The Company continues to seek additional
financing to help execute its business plan.  There can be no
assurance that the Company will be successful in attaining these
objectives or that attaining such objectives will result in
operating profits, positive cash flows or an overall improvement
in the Company's financial position in future periods."

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6993

                     About Compliance Systems

Headquartered in Glen Cove, New York, Compliance Systems
Corporation operates its principal businesses through two of its
subsidiaries, Call Compliance, Inc. and Execuserve Corp.

Call Compliance helps telemarketing operators ensure compliance in
the highly regulated, strictly enforced Do-Not-Call and other
telemarketing guidelines environment.  Execuserve provides
organizations, who are hiring employees, with tests and other
evaluation tools and services to assess and compare job
candidates.


CONSOLIDATED CONTAINER: S&P Raises Corporate Credit Rating to 'B'
-----------------------------------------------------------------
Standard & Poor's Ratings Services raised its ratings on Atlanta-
based Consolidated Container Co. LLC, including the corporate
credit rating to 'B' from 'B-'.  The outlook is stable.

S&P raised the issue-level rating on the company's $405 million
first-lien senior secured term loan B ($369.6 million outstanding
as of June 30, 2010) by one notch to 'B' from 'B-' (the same as
the corporate credit rating).  The recovery rating on this debt
remains unchanged at '3', indicating S&P's expectation for a
meaningful (50%-70%) recovery in the event of a payment default.

S&P raised the issue-level rating on the $225 million second-lien
term loan ($225 million outstanding as of June 30, 2010) to 'CCC+'
from 'CCC' (two notches below the corporate credit rating).  The
recovery rating remains unchanged at '6', indicating S&P's
expectation for a negligible (0%-10%) recovery in the event of a
payment default.

"The upgrade reflects improving operating trends which should
continue to support adequate liquidity and a financial profile
consistent with the revised rating," said Standard & Poor's credit
analyst Henry Fukuchi.  S&P expects ongoing cost-reduction
efforts, favorable raw material pass-through provisions, and
improved operating efficiencies to continue support this trend
despite softness in overall volumes.  The upgrade reflects S&P's
view that liquidity should remain adequate, given its expectation
for positive free cash flow generation and the company's favorable
debt maturity profile.

The ratings on Consolidated Container Co. LLC and its wholly owned
subsidiary, Consolidated Container Capital Inc., reflect the
company's highly leveraged financial profile and weak business
risk profile.  The business risk assessment incorporates high
customer concentration, and a highly fragmented and competitive
industry structure, somewhat mitigated by relatively stable
beverage and consumer product packaging markets.

S&P believes that operating trends should remain stable,
supporting a financial profile consistent with the revised
ratings.  The outlook also reflects S&P's view that liquidity
should continue to be adequate, supported by meaningful
availability under the revolving credit facility and positive free
cash flow generation.  Although S&P expects the company will post
moderately weaker earnings in fiscal 2010 compared with 2009, S&P
expects credit measures to remain appropriate for the rating with
FFO to total adjusted debt likely remaining above 10%.  S&P could
raise the ratings if Consolidated Container achieves an FFO to
total adjusted debt of about 20% consistently and if S&P expects
operating results to remain stable over time.

However, S&P could lower the ratings if unexpected business
challenges result in decreased liquidity or a decrease in the FFO
to total adjusted debt ratio toward the single-digit percentage
area.

Based on S&P's scenario forecasts, S&P could lower the ratings if
operating margins weaken by 3 percentage points or more, or if
volumes decline by 20% or more from S&P's 2010 and 2011 forecasts.
In this scenario, S&P expects that the company's leverage would
deteriorate to above 6x and FFO to total adjusted debt would
decrease to the single digit percentage area.


CORNERSTONE PARTNERS: Case Summary & 14 Largest Unsec. Creditors
----------------------------------------------------------------
Debtor: Cornerstone Partners, LLC
          fdba Avalon Preferred Properties, LLC
               Cornerstone Southwest Properties, LLC
        303 East Gurley Street, #474
        Prescott, AZ 86301-3804

Bankruptcy Case No.: 10-26208

Chapter 11 Petition Date: August 18, 2010

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Redfield T. Baum PCT, Sr.

Debtor's Counsel: Lawrence D. Hirsch, Esq.
                  DECONCINI MCDONALD YETWIN & LACY, PC
                  7310 N. 16th St. #330
                  Phoenix, AZ 85020
                  Tel: (602) 282-0472
                  Fax: (602) 282-0520
                  E-mail: lhirsch@dmylphx.com

Scheduled Assets: $629,522

Scheduled Debts: $1,508,516

A list of the Company's 14 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/azb10-26208.pdf

The petition was signed by Denise Wedepohl, co-owner.


CROSSTOWN STOR-N-MORE: Case Summary & Creditors List
----------------------------------------------------
Debtor: Crosstown Stor-N-More Self Storage, LLC
        6915 Westchester Circle
        Bradenton, FL 34202

Bankruptcy Case No.: 10-20055

Chapter 11 Petition Date: August 20, 2010

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

Debtor's Counsel: Alberto F. Gomez, Jr., Esq.
                  MORSE & GOMEZ, PA
                  119 S. Dakota Avenue
                  Tampa, FL 33606
                  Tel: (813) 301-1000
                  E-mail: algomez@morsegomez.com

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

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

The petition was signed by Daryl Brown, President of Interstate
Business Centers, Inc.

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Daryl Brown                        Loan                 $1,059,500
6915 Westchester Circle
Bradenton, FL 34202

Interstate Business Centers        Loans                  $120,000
6915 Westchester Circle
Bradenton, FL 34202

Johnson Pope, et al.               Professional            $42,946
P.O. Box 1368                      Services
Clearwater, FL 33756-1368

Otis Elevator                      Elevator                 $6,372
                                   Maintenance
                                   Agreement

Diamond Car Wash                   Carwash Supplies         $5,647

Kerkering, Barbario & Co.          Tax Preparation          $3,654
                                   Professional
                                   Services

St. Pete Times                     Advertising              $2,666

Chateau                            Vendor                   $1,960

Blair's                            Vendor                   $1,752

SeTel                              Telephone                $1,083
                                   Equipment
                                   Service/Provider

Distinctive Impressions            Vendor                     $859

Aqua Clean                         Vendor                     $830

Dart Electronics, Inc              Alarm Repairs and          $796
                                   Monitoring

Quill                              Office Supplies            $746

Melco                              Vendor                     $732

Empower Software                   Vendor                     $500

CTG                                Vendor                     $449

IT Authorities                     Internet/Telephone         $413
                                   Support

Culligan                           Water and Water            $380
                                   Cooler Equipment

Supply Side                        Rental Supplies            $330


CRUCIBLE MATERIALS: Judge Confirms Liquidating Plan
---------------------------------------------------
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware confirmed Crucible Materials Corp.'s
liquidation plan after the Debtor reached a settlement with the
U.S. Department of Justice and environmental regulators over
pollution cleanup obligations, Bankruptcy Law360 reports.  Judge
Walrath confirmed an amended plan that creates an environmental
trust, Law360 says.

Under the Plan, secured creditors would be unimpaired, unsecured
creditors would receive distributions from remaining funds, and
equity holders won't be receiving anything.  The explanatory
Disclosure Statement did not disclose the estimated percentage
recovery by holders unsecured claims against Crucible Materials
expected to total $250 million to $400 million and general
unsecured claims against affiliate Crucible Development Corp.
expected to total $205 million to $300 million.

                     About Crucible Materials

Based in Syracuse, New York, Crucible Materials Corporation -- aka
Crucible Specialty Metals, Crucible Service Centers, Crucible
Compaction Metals, Crucible Research and Trent Tube --
http://www.crucible.com/-- makes stainless and alloy steel for
use in the aircraft, automotive, petrochemical, and other
industries.  The Company was employee-owned prior to its
bankruptcy filing.

The Company and its affiliate, Crucible Development Corporation,
filed for Chapter 11 protection on May 6, 2009 (Bankr. D. Del.
Lead Case No. 09-11582).  Mark Minuti, Esq., at Saul Ewing LLP
represents the Debtors in their restructuring efforts.  The
Debtors engaged Duff & Phelps Securities LLP as investment banker;
RAS Management Advisors LLC as business advisor; and Epiq
Bankruptcy Solutions LLC as claims agent.  Roberta A. DeAngelis,
United States Trustee for Region 3, appointed five creditors to
serve on the Official Committee of Unsecured Creditors.  Crucible
Materials estimated assets and debts both ranging from
$100 million to $500 million in its Chapter 11 petition.

From four asset sales under 11 U.S.C. Sec. 363, Crucible
generated $14.4 million after secured lenders were fully paid on
$64.5 million in claims outstanding at the outset of the Chapter
case.


CUSTOM CABLE: Seeks to Conduct Auction of Assets
------------------------------------------------
Dow Jones DBR Small Cap reports that Custom Cable Industries Inc.,
is urging a bankruptcy court to let it auction off its assets,
with ComVest Capital LLC leading the bidding.

Custom Cable retained Berenfeld Capital Markets, LLC to solicit
prospective purchasers.  An affiliate of ComVest Capital LLC,
Custom Cable's senior lender and majority shareholder, has
expressed its willingness to purchase Custom Cable.

"Custom Cable is a good company with a poor balance sheet but
improving business operations," Gregg Stewart, general manager and
chief restructuring officer, said on July 30, when the Company
filed for bankruptcy. "[The bankruptcy filing] is being taken to
restructure the company's balance sheet and allow for a fresh
capital infusion.  Management believes a new owner and the
resultant capital infusion would allow the company to continue its
trend of positive operating results, allowing it to resume
sustainable and profitable growth. We appreciate the support we
have received to date from our long time customers and suppliers,
and look forward to continuing these valued relationships."

Despite upward trends in operations during 2010, Custom Cable has
faced issues with its significant debt level and continued
litigation claims from former executives and its senior lender.
The decision to pursue Chapter 11 reorganization was made by a
special committee of the company's board of directors, whose
members determined that the best course of action was to seek an
asset sale of the company through Section 363 of the U.S.
Bankruptcy Code.

The Company said all day to day operations and business will
continue as usual.  The Company said it has the requisite funding
in hand to operate in Chapter 11.

                   About Custom Cable Industries

Founded in 1980, Custom Cable Industries, Inc. --
http://www.customcable.com/-- manufactures and installs audio,
video and fiber-optic cables.  Custom Cable filed for Chapter 11
bankruptcy protection (Bankr. M.D. Fla. Case No. 10-18478) on
July 30, 2010.

Michael P. Horan, Esq., and Stephanie C. Lieb, Esq., at Trenam
Kemker Scharf Barkin Frye, serve as the Debtor's bankruptcy
counsel.  The Debtor estimated $1 million to $10 million in assets
and $10 million to $50 million in debts.


DALE STICKNEY: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Dale Stickney Construction, Inc.
        P.O. Box 491870
        Redding, CA 96049

Bankruptcy Case No.: 10-42119

Chapter 11 Petition Date: August 20, 2010

Court: U.S. Bankruptcy Court
       Eastern District of California (Sacramento)

Judge: Christopher M. Klein

Debtor's Counsel: Dennis K. Cowan, Esq.
                  P.O. Box 992090
                  Redding, CA 96099
                  Tel: (530) 221-7300

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

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/caeb10-42119.pdf

The petition was signed by Ronald H. Stickney, chief executive
officer.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                            Case No.   Petition Date
        ------                            --------   -------------
Secured Capital Investments Group, LLC    09-32525        06/18/09


DARIUS ENTERPRISES: Case Summary & 5 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Darius Enterprises, LLC
          fka 9621 Canoga Avenue, LLC
        9623 Canoga Avenue
        Chatsworth, CA 91311

Bankruptcy Case No.: 10-20351

Chapter 11 Petition Date: August 20, 2010

Court: U.S. Bankruptcy Court
       Central District of California (San Fernando Valley)

Judge: Maureen Tighe

Debtor's Counsel: Michael G. Spector, Esq.
                  LAW OFFICES OF MICHAEL G. SPECTOR
                  2677 N. Main Street, Suite 800
                  Santa Ana, CA 92705
                  Tel: (714) 835-3130
                  Fax: (714) 558-7435
                  E-mail: mgspector@aol.com

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

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

A list of the Company's five largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-20351.pdf

The petition was signed by Masih Madani, managing member.


DEAN FOODS: Fitch Assigns Issuer Default Rating at 'B+'
-------------------------------------------------------
Fitch Ratings has assigned a first-time 'B+' Issuer Default Rating
to Dean Foods Company and Dean Holding Company -- a wholly owned
subsidiary of Dean.  Fitch has simultaneously assigned issue level
and recovery ratings of 'BB/RR2' to Dean's secured credit facility
and 'B-/RR6' to the senior unsecured notes of Dean and Dean
Holding Company.  The Rating Outlook is Stable.

At June 30, 2010, Dean had $4.2 billion of total debt.
Approximately 85% or $3.6 billion of this debt is secured while
15% or $625 million is unsecured.

Rating Rationale:

The rating recommendation incorporates Dean's leading market share
positions in the U.S. dairy industry and its consistent generation
of meaningful free cash flow (defined as cash flow from operations
less capital expenditures and dividends).  With over $11 billion
of annual sales, Dean is the leader in the fragmented fluid milk
market with approximately 38% share.  The company is number one
globally in soymilk with its Silk and Alpro brands, number one in
U.S. organic milk with its Horizon Organic label and number two in
U.S. coffee creamers with its International Delights and LAND O
LAKES offerings.  Dean's FCF has grown by a compound annual growth
rate of 10% since 2001 and has averaged nearly $300 million
annually, excluding the $15.00/share special dividend in 2007.

These positives are balanced against Dean's high financial
leverage and the commodity nature of the fluid milk business,
which is characterized by low margins and occasional volatility
due to swings in conventional raw milk prices.  While Dean has
historically been a consolidator in the industry, the company's
primary focus has turned to cost savings and efficiencies and
secondarily to rationalizing non-core assets; such as the sale of
its Rachel's dairy operation in the United Kingdom which is
expected to close during the current quarter.  On an individual
basis, Fitch does not expect divestitures to be material in size.

Furthermore, negative mix shift towards lower margin private label
milk is pressuring margins in the company's Fresh Dairy Direct-
Morningstar division which represented 85% of fiscal 2009 sales
and operating income, excluding corporate expenses.  The negative
mix shift is being caused by pressure on consumer spending which
is exacerbated by retailer discounting and competition among dairy
processors.  Many retailers are reducing the price of private
label milk in hopes of driving store traffic.  The price
reductions have led to rising price gaps between branded and
private label options, increased consumer demand for cheaper
private label milk and reduced profitability for Dean because
private label milk has a lower margin than branded milk.  Fitch
expects this dynamic to continue in the near term and as such
Dean's consolidated EBITDA margin is likely to remain below its
10-year historical average of roughly 8% in 2010 and 2011.
Moreover, as of Aug. 18, 2010, the US$A is forecasting
conventional raw milk prices, as measured by its All Milk index to
increase 25% to an average of $16.00/hundredweight in 2010.  Given
the large year-over-year cost increase, Fitch does not believe
Dean will be able to completely pass on this higher cost in 2010.

Cost Savings Program:

In an effort to protect margins, Dean established a $300 million
3-5 year cost savings target in early 2009.  During 2009, Dean
successfully realized $75 million of these savings and is
expecting another $100 million in 2010.  Approximately $250
million or 83% of the total reductions will come from the
company's Fresh Dairy Direct-Morningstar segment while the
remaining $50 million or 17% will come from the company's
WhiteWave business.  These operations include Dean's nationally
branded soy and organic milk products.  Within Fresh Dairy, about
$115 million or 46% of the $250 million of savings will be
associated with the company's distribution and network
optimization, $85 million or 34% is related to conversion or
increased production efficiencies, and $50 million or 20% is tied
to procurement or supply chain efforts.

Fitch views the targeted savings from this multi-year productivity
program as achievable.  This is primarily because the amount
represents less than 15% of the company's total annual operating
expenses, which amounted to $2.3 billion in 2008, and will be
realized over time.  Furthermore, given the company's long history
of acquisitions, its excess capacity and multiple information
systems, accounting and production platforms, Dean has a
significant opportunity to close facilities and streamline
operations.

Recovery Ratings:

While an event of default is not anticipated, the 'RR2' rating on
Dean's secured bank debt incorporates Fitch's view that recovery
prospects for these obligations would be superior or range from
71%-90% in a distressed situation.  The 'RR6' rating on the
unsecured notes reflects the heavy mix of secured debt in the
company's capital structure and the view that little value would
be available for distribution to unsecured debt holders in a
recovery event.  Recovery for these bondholders would likely be
poor at 0%-10%.  Fitch's assumptions for this analysis assume Dean
would remain a going concern with an estimated enterprise value of
about $3.8 billion and approximately $4.9 billion of claims.  The
claims include $4.1 billion of debt, excluding capital leases, at
June 30, 2010 and $805.5 million of revolver availability that
Fitch assumes would be drawn down if the company neared
bankruptcy.

Stable Outlook and Key Rating Triggers:

The Stable Rating Outlook considers the current challenging
operating environment, which Fitch believes is likely to continue
through 2010, but reflects Dean's liquidity and manageable term
loan amortization schedule.  Fitch views Dean's June 30, 2010
amendment to its $4.8 billion secured credit facility which
extended the maturity on approximately $3.5 billion or 73% of the
size and eased financial maintenance covenants positively.  Prior
to the amendment, Dean had approximately $1.2 billion of term loan
amortizations due 2011 through 2013 and limited room under its
maximum leverage covenant, which was scheduled to step down at
Dec. 31, 2010.

While Dean's margins remain under pressure, Fitch expects the
company to continue to generate material positive FCF and to apply
it towards debt reduction.  Additional covenant relief, due to
continued negative mix shift towards private label milk and the
inability to completely pass on higher raw milk costs, and
substantial margin contraction in 2011 would be viewed negatively.
Dean currently has approximately 15% of EBITDA cushion under the
maximum leverage covenant for its secured bank facility.  Total
debt-to-operating EBITDA consistently above 5.5 times (x) could
result in a downgrade while margin stability and debt reduction
such that leverage declines below 4.5x would have positive rating
implications.

Credit Statistics:

At the latest 12 months period ended June 30, 2010, total debt-to-
operating EBITDA was 5.2x, FFO adjusted leverage was 5.8x and
operating EBITDA-to-gross interest expense was 3.5x.  Dean's
leverage has ranged from a low of 3.1x in 2003 to a high of 6.4x
in 2007 following the debt-financed $15/share special dividend of
approximately $1.9 billion.  As mentioned earlier, acquisitions
have been a key part of Dean's strategy but debt reduction has
also been a priority for the company over the past two years.
Dean has spent roughly $660 million on acquisitions and has repaid
roughly $1.1 billion of debt since 2007.  The debt reduction
represents about 57%, of the amount incurred for its leveraged
recapitalization in 2007.  In addition to approximately
$852 million of FCF during 2008 and 2009, Dean raised $874 million
of net proceeds from equity issuances and used the funds for debt
reduction.

Fitch currently believes debt reduction will continue but expects
the pace of deleveraging to be delayed because of pressure on
operating cash flow.  Dean had been targeting leverage below 4.0x,
as defined by its credit facility, by fiscal 2010 and
approximately 3.5x by 2011.  Fitch projects that total debt-to-
operating EBITDA will approximate 5.0x in 2010 and 4.5x in 2011.

Recent Operating Performance:

Dean has had three consecutive quarters of year-over-year
operating income declines.  The company reported year-over-year
consolidated operating income declines of 20% to $125 million
during the second quarter ended June 30, 2010, 38% to $119 million
in the first quarter ended March 31, 2010, and 26% to $136 million
during the fourth quarter ended Dec. 31, 2009.

As previously mentioned in the Rating Rationale, the downturn in
Dean's performance has been due to weakness in its Fresh Dairy
Direct-Morningstar segment.

The operating margin in the Fresh Dairy Direct-Morningstar
division fell 340 basis points (bps) to 5.5% during the first six
months of 2010.  Fitch's base case projection conservatively
assumes little improvement through the rest of 2010, as weakness
in the consumer environment will likely continue to encourage
adverse retail pricing practices.  Operating margins for Dean's
WhiteWave-Alpro segment increased 40 bps to 8.8% during the latest
six-month period due to volume growth and better pricing for
branded products; such as, International Delight coffee creamers,
Horizon Organic milk and Silk soymilk, productivity initiatives
and the positive impact of the company's July 2, 2009 Alpro
acquisition for $440.3 million.  Improvement at WhiteWave-Alpro is
not expected to fully offset operating income declines at Fresh
Dairy Direct-Morningstar because the segment only represented 15%
of sales and operating income, excluding corporate expenses, in
fiscal 2009.

Liquidity and Upcoming Maturities:

Despite pressure on operating income, Fitch expects aggressive
working capital management to partially mitigate declines in
operating cash flow and only modest incremental capital
expenditures to preserve FCF.  Fitch currently projects FCF of
approximately $250 million in 2010, down from the $391 million
generated in 2009, but nonetheless strong.  At June 30, 2010, Dean
had $1.4 billion of liquidity which included $61.2 million of
cash, $805.5 billion of revolver availability and $553.3 million
of borrowing capacity under its receivables-backed facility.

As a result of the June 30 credit agreement amendment,
$1.3 billion of the secured revolver expires April 2, 2014 and
$225 million expires April 2, 2012.  The company's $600 million
receivables-backed facility now terminates on June 29, 2011.
At June 30, 2010, scheduled debt amortizations and maturities
included $57.9 million in 2010, $193.4 million in 2011,
$391.0 million in 2012 and $348.6 million in 2013.

Covenant Risk:

Dean's bank facility subjects the company to a maximum leverage
and minimum interest coverage ratio.  As defined by the agreement,
LTM consolidated funded debt (excluding letters of credit, hybrid
securities and no more than $100 million of cash)-to-consolidated
EBITDA (adjusted for non-cash charges, etc.) is currently limited
to 5.5x versus 5.0x prior to the amendment.  This restriction
steps down to 5.0x on June 30, 2011, and 4.5x on Dec. 31, 2012.
At June 30, 2010, Dean was in compliance with this requirement at
4.7x, which as mentioned earlier, implies roughly 15% of EBITDA
cushion.  The company is also subject to a minimum interest
coverage ratio covenant of 2.75x, which steps up to 3.0x on
Dec. 31, 2010.  Dean's senior unsecured $500 million 7% guaranteed
notes due June 1, 2016, contain a change of control put option of
101% of principal plus accrued and unpaid interest.

Fitch has taken these rating actions:

Dean Foods Company (Parent)

  -- Long-term Issuer Default Rating at 'B+';
  -- Bank credit facility at 'BB/RR2';
  -- Senior unsecured debt at 'B-/RR6'.

Dean Holding Company (Operating Subsidiary)

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


DREIER LLP: Trustee Seeks to Recoup $16MM From Patriot Group
------------------------------------------------------------
Dow Jones DBR Small Cap reports that the official who is
liquidating Marc Dreier's law firm is suing Patriot Group LLC to
recover $16.65 million, part of a quest to recover the fake
profits paid out to hedge-fund investors in Mr. Dreier's scheme to
sell fraudulent promissory notes.

                         About Dreier LLP

Marc Dreier founded New York-based law firm Dreier LLP --
http://www.dreierllp.com/-- in 1996.

On December 8, 2008, the U.S. Securities and Exchange Commission
filed a suit, alleging that Mr. Dreier made fraudulent offers and
sales of securities in several cities, selling fake promissory
notes to hedge and other private investment funds.  The SEC
asserted that Mr. Dreier also distributed phony financial
statements and audit opinions, and recruited accomplices in
connection with that scheme.  Mr. Dreier has been charged by the
U.S. government for conspiracy, securities fraud and wire fraud
(S.D.N.Y. Case No. 09-cr-00085-JSR).

Dreier LLP sought chapter 11 protection (Bankr. S.D.N.Y. Case No.
08-15051) on Dec. 16, 2008.  Stephen J. Shimshak, Esq., at Paul,
Weiss, Rifkind, Wharton & Garrison LLP, was tapped as counsel.
The Debtor estimated assets of $100 million to $500 million, and
debts of $10 million to $50 million in its Chapter 11 petition.

Wachovia Bank National Association, Sheila M. Gowan as trustee for
Dreier LLP's Chapter 11 Estate, and Steven J. Reisman as post-
confirmation representative of the bankruptcy estate of
360networks (USA) Inc. signed a petition that put Mr. Dreier into
bankruptcy under Chapter 7 on January 26, 2009 (Bankr. S.D.N.Y.
Case No. 09-10371).

Mr. Dreier, 60, pleaded guilty to fraud and other charges in May
2009.  The scheme to sell $700 million in fake notes unraveled in
late 2008.  Mr. Dreier is serving a 20-year sentence in a federal
prison in Minneapolis.


DONALD POWERS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Joint Debtors: Donald W. Powers
                 dba Kimmerly Glen Shopping Center
               Joan B. Powers
                 dba Powers Rental Properties
               P.O. Box 44524
               Charlotte, NC 28215

Bankruptcy Case No.: 10-32420

Chapter 11 Petition Date: August 20, 2010

Court: U.S. Bankruptcy Court
       Western District of North Carolina (Charlotte)

Judge: George R. Hodges

Debtors' Counsel: R. Keith Johnson, Esq.
                  1275 South Highway 16
                  Stanley, NC 28164
                  Tel: (704) 827-4200
                  Fax: (704) 827-4477
                  E-mail: rkjpa@bellsouth.net

Scheduled Assets: $2,762,000

Scheduled Debts: $7,664,177

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ncwb10-32420.pdf


DREIER LLP: Hearing on Dreier Ex-Wife's $7MM Claim Set Sept. 14
---------------------------------------------------------------
Bankruptcy Law360 reports that U.S. Bankruptcy Judge Stuart M.
Bernstein has set a Sept. 14 date for a court showdown between the
bankruptcy estate of jailed attorney and Ponzi schemer Marc S.
Dreier and his ex-wife, Elisa Dreier, over a $7.1 million claim
she believes she is owed under a domestic support agreement.

                         About Dreier LLP

Marc Dreier founded New York-based law firm Dreier LLP --
http://www.dreierllp.com/-- in 1996.

On December 8, 2008, the U.S. Securities and Exchange Commission
filed a suit, alleging that Mr. Dreier made fraudulent offers and
sales of securities in several cities, selling fake promissory
notes to hedge and other private investment funds.  The SEC
asserted that Mr. Dreier also distributed phony financial
statements and audit opinions, and recruited accomplices in
connection with that scheme.  Mr. Dreier has been charged by the
U.S. government for conspiracy, securities fraud and wire fraud
(S.D.N.Y. Case No. 09-cr-00085-JSR).

Dreier LLP sought chapter 11 protection (Bankr. S.D.N.Y. Case No.
08-15051) on Dec. 16, 2008.  Stephen J. Shimshak, Esq., at Paul,
Weiss, Rifkind, Wharton & Garrison LLP, was tapped as counsel.
The Debtor estimated assets of $100 million to $500 million, and
debts between $10 million and $50 million in its Chapter 11
petition.

Wachovia Bank National Association, Sheila M. Gowan as trustee for
Dreier LLP's Chapter 11 Estate, and Steven J. Reisman as post-
confirmation representative of the bankruptcy estate of
360networks (USA) Inc. signed a petition that put Mr. Dreier into
bankruptcy under Chapter 7 on January 26, 2009 (Bankr. S.D.N.Y.
Case No. 09-10371).

Mr. Dreier, 60, pleaded guilty to fraud and other charges in May
2009.  The scheme to sell $700 million in fake notes unraveled in
late 2008.  Mr. Dreier is serving a 20-year sentence in a federal
prison in Minneapolis.


E*TRADE FINANCIAL: Discloses 3-Year Loss-Per-Share Calculations
---------------------------------------------------------------
E*Trade Financial Corporation filed on Aug. 19, 2010, with the
U.S. Securities and Exchange Commission, a supplemental
information on its weighted average shares and loss per share
calculations for the years ended December 31, 2009, 2008 and 2007,
to adjust for the impact of the 1-for-10 reversed stock split that
became effective in the second quarter of 2010.

A full-text copy of the selected financial data is available for
free at http://ResearchArchives.com/t/s?6994

                     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.

                         *     *     *

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."


ECLIPSE AVIATION: Undelivered Aircraft Spat a Core Proceeding
-------------------------------------------------------------
Pursuant to the bankruptcy court's sale order, WestLaw reports,
the buyer of a Chapter 7 debtor-jet manufacturer's assets acquired
the rights, claims, and defenses of the debtor, the estate, and
the trustee, including the estate's hypothetical lien rights under
the Bankruptcy Code's strong-arm statute.  Therefore, an adversary
proceeding in which intended buyers of the debtor's airplanes
sought a declaration that the aircraft which they had contracted
to buy prepetition were not property of the estate was a "core"
proceeding over which the bankruptcy court had subject matter
jurisdiction.  In re AE Liquidation, Inc., --- B.R. ----, 2010 WL
3087443 (Bankr. D. Del.) (Walrath, J.).

Albuquerque, New Mexico-based Eclipse Aviation Corporation --
<http://www.eclipseaviation.com/>http://www.eclipseaviation.com/-
- manufactured six-passenger planes powered by two Pratt & Whitney
turbofan engines.  The Company and Eclipse IRB Sunport, LLC sought
chapter 11 protection (Bankr. D. Del. Case No. 08-13031) on Nov.
25, 2008, represented by lawyers at Allen & Overy LLP, and
estimating assets of less than $500 million and debts of more than
$1 billion.

The Debtor sought to sell all of its assets pursuant to proposed
bid procedures.  The Court approved the bid procedures, with
substantial modification, on Dec. 23, 2008.  On Jan. 23,
2009, the Court entered an order authorizing the sale of
substantially all of the Debtor's assets to EclipseJet Aviation
International, Inc., finding it had presented the highest and best
offer.  Despite approval, the sale to EclipseJet was never
consummated.

As a result, on March 5, 2009, the case was converted to a chapter
7 liquidation proceeding and Jeoffrey L. Burtch was appointed
trustee.  The Trustee renewed efforts to sell the Debtor's assets.
On Aug. 28, 2009, the Court authorized the Trustee to sell the
Debtor's assets to Eclipse Aerospace, Inc., for $20 million in
cash and a $20 million note.  The sale to Eclipse Aerospace,
Inc., closed on September 4, 2009.


EMAK WORLDWIDE: Gets Court Approval of Several "First Day" Motions
------------------------------------------------------------------
EMAK Worldwide, Inc. received approval from the Bankruptcy Court
of several "first day" motions in its voluntary Chapter 11
reorganization, including a number of motions that ensure the
smooth continuation of EMAK and its subsidiaries' day-to-day
businesses.

EMAK obtained authority to pay wages outstanding as of the
beginning of the proceeding and to continue providing all regular
employee benefit programs.  The Court also authorized EMAK and its
subsidiaries to use their existing consolidated cash management
system and to continue the payment of vendors in the ordinary
course of business, which will allow continued operation with
minimal disruption.  In short, EMAK's operating subsidiaries will
continue to operate as usual and make payment of all of their
obligations to employees, customers and vendors as before.

"I am pleased to report that the relief granted by the Court
provides us with ample liquidity to continue normal operations as
we execute our business restructuring and address the company's
legal liabilities," said Jim Holbrook, EMAK's Chief Executive
Officer.  "Importantly, our employees, clients and vendors can
rest assured that EMAK will have the liquidity it needs to
continue to purchase goods and services and provide quality, on-
time products and services as we move forward through this
restructuring process."

EMAK is currently in the process of developing a restructuring
plan and expects to exit bankruptcy in early 2011.  Most
importantly, the Company and its subsidiaries continue to provide
all services to existing clients and to successfully develop new
business.

                        About EMAK Worldwide

Los Angeles, California-based EMAK Worldwide, Inc., a Delaware
corporation, fka Equity Marketing, Inc., filed for Chapter 11
bankruptcy protection on August 5, 2010 (Bankr. C.D. Calif. Case
No. 10-42779).  Jeffrey M. Reisner, Esq., at Irell & Manella LLP,
assists the Debtor in its restructuring effort.  The Debtor
estimated its assets and debts at $10 million to $50 million as of
the Petition Date.

An affiliate, EMAK Worldwide Service Corp., A Delaware
Corporation, filed a separate Chapter 11 petition on August 5,
2010 (Bank. C.D. Calif. Case No. 10-42784), estimating its assets
and debts at $10 million to $50 million.

EMAK's other operating subsidiaries are excluded from these
voluntary petitions, including its Equity Marketing, Logistix,
Neighbor and Upshot agencies and operations in Asia.


FAIRVUE CLUB: Plan Confirmation Hearing Scheduled for October 6
---------------------------------------------------------------
Fairvue Club Properties, LLC, et al., submitted to the U.S.
Bankruptcy Court for the Middle District of Tennessee a proposed
Plan of Reorganization and an explanatory Disclosure Statement,
amended as of August 3, 2010.

The Debtors relate that they amended the Plan to resolve the
objections of American security Bank & Trust Company, First State
Bank, Wilson Bank & Trust, and David Rogers, trustee.

The Court will consider on October 6 at 9:00 a.m., confirmation of
the Plan at Courtroom One, Customs House, 701 Broadway, Nashville,
Tennessee.

The Court will also hold a pretrial conference on September 27, at
2:00 p.m., to discuss any preliminary confirmation hearing
matters.  September 10 is fixed as the last day for filing
objections, and written acceptances or rejections of the Debtors'
Plan.

The Plan provides for the assets, liabilities and operations of
the Debtors to continue in the same entity.  On the effective date
of the Plan, an unsecured creditors' fund will be created for the
benefit of all unsecured creditors in Class 10 and 11.  An agent
for the benefit of all allowed unsecured claims in Class 10 and
11, will hold a junior lien on the real property and improvements
of Fairvue and Foxland existing as of the effective date of the
Plan to secured the payments under the Plan.  The allowed claims
within Class 10 and 11 will share pro rata the amount generated
from the net operating surplus of the Reorganized Debtors.
Unsecured claims of Blueridge will not receive any distribution
under the Plan.  Interests in Fairvue and Foxland will terminate
upon the effective date of the Plan.  New interests in Fairvue and
Foxland will be issued to Leon Moore Family Trust in satisfaction
of its allowed secured and unsecured claims.

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

                   About Fairvue Club Properties

Gallatin, Tennessee-based Fairvue Club Properties, LLC, filed for
Chapter 11 (Bankr. M.D. Tenn. Case No. 09-13807) on December 1,
2009.  William L. Norton, III, Esq., at Bradley Arant Boult
Cummings LLP, assists the Debtor in its restructuring effort.
The Company disclosed $13,287,625 in assets and $17,215,175 in
liabilities as of the Petition Date.


FILI ENTERPRISES: Taps Brownstein Hyatt as General Bankr. Counsel
-----------------------------------------------------------------
Fili Enterprises, Inc., asks for authorization from the U.S.
Bankruptcy Court for the Southern District of California to employ
Brownstein Hyatt Farber Schreck, LLP, as general bankruptcy
counsel, effective as of July 1, 2010.

Brownstein Hyatt will, among other things:

     a. assist the Debtor in the use of cash collateral,
        postpetition borrowing, and motions concerning the same;

     b. represent the Debtor in any litigation affecting it in
        connection with the Chapter 11 case;

     c. attend meetings and negotiate with representatives of
        creditors and other parties-in-interest, as necessary; and

     d. take certain necessary actions to protect and preserve the
        bankruptcy estate, including prosecuting actions on its
        behalf, defending any action commenced against the Debtor
        and representing the Debtor's interests in negotiations
        concerning all litigation in which it is involved.

Neither the Debtor nor Brownstein Hyatt disclosed how the firm
will be compensated.

Karol K. Denniston, Esq., a partner at Brownstein Hyatt, assures
the Court that the firm is a "disinterested person" as that term
is defined in Section 101(14) of the Bankruptcy Code.

                      About Fili Enterprises

Fili Enterprises Inc., which owns the Daphne's Greek Cafe, filed
for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court
in San Diego, California (Bankr. S.D. Calif. Case No. 10-00324),
listing assets and liabilities of between $10 million and
$50 million.

Fili Enterprises operates 67 Greek restaurants mostly in Southern
California.  Fili also does business under the names Daphne's
Greek Express.

Unsecured and priority creditors are owed $3.7 million. U.S.
Foodservice Inc., owed $1.1 million, is the unsecured creditor
with the largest listed claim.

Chief Executive George Katakalidis, a former professional soccer
player, founded the company in 1988.


FIRST BANCORP: Reveals Relevant Price & Exchange Ratios for Offer
-----------------------------------------------------------------
First BanCorp. has determined the Relevant Price and Exchange
Ratios in connection with its previously communicated offer to
exchange up to 256,401,610 newly issued shares of its common
stock, par value US$1.00 per share, for any and all of the issued
and outstanding shares of Non-Cumulative Perpetual Monthly Income
Preferred Stock, Series A through E.

In accordance with the terms of the Exchange Offer, as set forth
in the Corporation's Preliminary Prospectus, dated August 18,
2010, and related letter of transmittal, the Corporation has
determined the Relevant Price and Exchange Ratios for the
Preferred Stock referred to below.  The Relevant Price is US$1.18,
which is the Minimum Share Price.

The expiration date for the Exchange Offer is 11:59 p.m., New York
City time, on Tuesday, August 24, 2010, unless the Corporation
extends the Exchange Offer or terminates it prior to that date.

For each share of Preferred Stock accepted in accordance with the
terms of the Exchange Offer, the Corporation will issue a number
of shares of its Common Stock equal to the "Exchange Ratio," which
is the Exchange Value set forth in the table below divided by the
Relevant Price of US$1.18.  The closing sale price for a share of
Common Stock on the New York Stock Exchange on August 20, 2010 was
US$0.51, which is less than the Relevant Price.

To receive the consideration in the Exchange Offer, holders must
validly tender and not withdraw their shares of Preferred Stock
prior to the expiration date, and such shares must be accepted for
exchange.  The Corporation intends to deliver the consideration
for the shares that are tendered and accepted in the Exchange
Offer on or about August 27, 2010.

The dealer manager for the Exchange Offer is UBS Investment Bank,
which can be contacted at (888) 719-4210.

The Corporation has filed a registration statement, a preliminary
prospectus and related exchange offer materials with the
Securities and Exchange Commission for the exchange offer to which
this communication relates.

                       About First BanCorp

First BanCorp is the parent corporation of FirstBank Puerto Rico,
a state-chartered commercial bank with operations in Puerto Rico,
the Virgin Islands and Florida, and of FirstBank Insurance Agency.
First BanCorp and FirstBank Puerto Rico operate under U.S. banking
laws and regulations.  The Corporation operates a total of 175
branches, stand-alone offices and in-branch service centers
throughout Puerto Rico, the U.S. and British Virgin Islands, and
Florida.  Among the subsidiaries of FirstBank Puerto Rico are
First Federal Finance Corp., a small loan company; First Leasing
and Rental Corp., a leasing company; FirstBank Puerto Rico
Securities, a broker-dealer subsidiary; First Management of Puerto
Rico; and FirstMortgage, Inc., a mortgage origination company. In
the U.S. Virgin Islands, FirstBank operates First Insurance VI, an
insurance agency, and First Express, a small loan company.  First
BanCorp's common and publicly-held preferred shares trade on the
New York Stock Exchange under the symbols FBP, FBPPrA, FBPPrB,
FBPPrC, FBPPrD and FBPPrE.

                           *     *     *

As of June 18, 2010, the bank continues to carry Standard & Poor's
"CCC+" long-term issuer credit ratings.

As reported by the Troubled Company Reporter on June 21, 2010,
FirstBank Puerto Rico agreed to a Consent Order with the Federal
Deposit Insurance Corporation and the Office of the Commissioner
of Financial Institutions of Puerto Rico and that First BanCorp
agreed to enter into a written agreement with the Federal Reserve
Bank of New York.  FirstBank and the Corporation have agreed to
take certain actions intended to address various matters,
including among others, the development and adoption of a plan to
attain certain capital levels, and the reduction of non-performing
and classified assets that have impacted FirstBank's financial
condition and performance.


FIRST CHESTER: Earns $169,000 in Q2 Ended June 30
-------------------------------------------------
First Chester County Corporation reported that net income from
continuing operations was $374,000 for the quarter ended June 30,
2010, compared to a net loss of $2.9 million for the quarter ended
June 30, 2009.  Net interest income was $8.8 million in the second
quarter of 2010, compared to $9.5 million for the same period in
2009.

First Chester said the improvement in the financial results for
the second quarter primarily reflects a significant decrease in
the provision for loan and lease losses compared to the prior
year's quarter, offset by a slight decrease in net interest income
compared to the prior year's quarter.

According to the Form 10-Q filed with the Securities and Exchange
Commission, the Company's balance sheet as of June 30, 2010,
showed $1.168 billion in total assets, $1.112 billion in total
liabilities, and stockholders' equity of $55.6 million.

John A. Featherman, III, Chairman and CEO of First Chester, was
quoted in an earnings release distributed the Company as saying,
"The filing of our second quarter financial report indicates a
number of significant positive developments for First Chester: we
returned to profitability for both the Bank and the holding
company; we are now current in our SEC reporting and are compliant
with the NASDAQ Capital Markets continued listing requirements;
and we now meet the increased minimum capital ratios required by
the Office of the Comptroller of the Currency.  These developments
represent the culmination of a great deal of hard work by all of
our employees in the face of significant challenges, and now
positions First Chester to move forward on the pending merger with
Tower Bancorp."  Mr. Featherman added, "We expect to file a
registration statement on Form S-4, which will include a joint
proxy statement/prospectus and other relevant documents concerning
the merger with the SEC within the next few weeks".

                       Going Concern Doubt

As reported in the Troubled Company Reporter on August 3, 2010,
Grant Thornton LLP, in New York, expressed substantial doubt about
the Company's ability to continue as a going concern, following
its 2009 results.  The independent auditors noted that on
October 16, 2009, the Company's subsidiary, the First National
Bank of Chester County, entered into a Memorandum of Understanding
with the Office of the Comptroller of the Currency, pursuant to
which the Bank Company has agreed, among other things, to develop
a comprehensive three-year capital plan.  The OCC also mandated
higher individual minimum capital ratio requirements.  For the
year ended December 31, 2009, the Company has incurred a net loss
from operations, primarily from the higher provisions for loan
losses due to increased levels of non-performing assets, the
write-off of goodwill and the establishment of a valuation
allowance on the deferred tax assets.  These losses have caused
the Bank to fall below certain IMCR thresholds as of December 31,
2009, and March 31, 2010.

According to the Form 10-Q, the Company is in compliance with the
IMCRs as of June 30, 2010.  As of June 30, the Bank met the
individual minimum capital ratio requirements.  The Bank's total
risk-based capital ratio was 12.54%, compared to regulatory
requirement of 12%; its Tier 1 capital ratio was 11.27%, compared
to regulatory requirement of 10%; and its Tier 1 leverage ratio
was 8.40%, compared to regulatory requirement of 8%.

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

               http://researcharchives.com/t/s?69d8

A full-text copy of the Company's earnings release is available
for free at:

               http://researcharchives.com/t/s?69d9

                       About First Chester

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

On December 27, 2009, the Company entered into a definitive merger
agreement, as amended on March 4, 2010, with Tower Bancorp, Inc.,
the holding company for Graystone Tower Bank, pursuant to which
the Company will merge into Tower.  The merger agreement provides
that upon consummation of the merger, the Bank will merge into
Graystone, with Graystone as the surviving institution.

Consummation of the Merger is subject to certain terms and
conditions, including, but not limited to, receipt of various
regulatory approvals and approval by both Tower's and First
Chester's shareholders and First Chester's loan delinquencies not
exceeding $90 million in the aggregate.  As of June 30, 2010, all
regulatory approvals have been received from the bank regulators.
However, certain of these approvals contain expiration dates such
that extensions may need to be obtained if the merger is not
closed prior to the end of the third quarter of 2010.


ECLIPSE AVIATION: Undelivered Aircraft Spat a Core Proceeding
-------------------------------------------------------------
Pursuant to the bankruptcy court's sale order, WestLaw reports,
the buyer of a Chapter 7 debtor-jet manufacturer's assets acquired
the rights, claims, and defenses of the debtor, the estate, and
the trustee, including the estate's hypothetical lien rights under
the Bankruptcy Code's strong-arm statute.  Therefore, an adversary
proceeding in which intended buyers of the debtor's airplanes
sought a declaration that the aircraft which they had contracted
to buy prepetition were not property of the estate was a "core"
proceeding over which the bankruptcy court had subject matter
jurisdiction.  In re AE Liquidation, Inc., --- B.R. ----, 2010 WL
3087443 (Bankr. D. Del.) (Walrath, J.).

Albuquerque, New Mexico-based Eclipse Aviation Corporation --
<http://www.eclipseaviation.com/>http://www.eclipseaviation.com/-
- manufactured six-passenger planes powered by two Pratt & Whitney
turbofan engines.  The Company and Eclipse IRB Sunport, LLC sought
chapter 11 protection (Bankr. D. Del. Case No. 08-13031) on Nov.
25, 2008, represented by lawyers at Allen & Overy LLP, and
estimating assets of less than $500 million and debts of more than
$1 billion.

The Debtor sought to sell all of its assets pursuant to proposed
bid procedures.  The Court approved the bid procedures, with
substantial modification, on Dec. 23, 2008.  On Jan. 23,
2009, the Court entered an order authorizing the sale of
substantially all of the Debtor's assets to EclipseJet Aviation
International, Inc., finding it had presented the highest and best
offer.  Despite approval, the sale to EclipseJet was never
consummated.

As a result, on March 5, 2009, the case was converted to a chapter
7 liquidation proceeding and Jeoffrey L. Burtch was appointed
trustee.  The Trustee renewed efforts to sell the Debtor's assets.
On Aug. 28, 2009, the Court authorized the Trustee to sell the
Debtor's assets to Eclipse Aerospace, Inc., for $20 million in
cash and a $20 million note.  The sale to Eclipse Aerospace,
Inc., closed on September 4, 2009.


FLEETWOOD ENTERPRISES: Emerges from Chapter 11 Bankruptcy
---------------------------------------------------------
On August 6, 2010 the U.S. Bankruptcy Court for the Central
District of California entered an order confirming the Fourth
Amended Joint Plan of Liquidation of the Debtors and the Official
Committee of Creditors Holding Unsecured Claims, dated August 5,
2010.  On August 23, 2010, the conditions precedent to the
effectiveness of the Plan were satisfied or waived.  As a result,
the Plan became effective as of August 23, 2010.

Pursuant to the Plan, each of the executive officers and members
of the board of directors of the Company resigned as of the
Effective Date.

                    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.


FORUM HEALTH: PBGC to Take Over Pension Benefit Plans
-----------------------------------------------------
Vindy.com reports that the Pension Benefit Guaranty Corp. said
retired workers of recently sold Forum Health will not miss any
pension checks.

According to the report, the PBGC has started the process of
taking over bankrupt Forum's defined-benefits pension plan, which
officials said could take months.  In the meantime, Forum will
administer the plan, which has sufficient assets to cover payments
to retirees until the federal takeover, according to the PBGC.

The PBGC is an unsecured creditor of the Company with a claim of
about $170 million.

Vindy relates that in July 2009, the PBGC covered about 7,132
working and retired employees at the request of the Company.
Forum's quarterly pension-plan contribution was about $1.5
million.  As of Dec. 31, 2008, the pension plan's assets of
$205,419,808 equaled only 63.7 percent of its $322,631,706 in
projected benefit obligations.

Forum has received approval from the U.S. Bankruptcy Court to sell
its hospital system to Community Systems for $120 million.  Final
approval of the sale is pending a state review.  Community Health
is not liable for the Company's pension obligations under the sale
agreement, according to Vindy.com.

                        About Forum Health

Forum Health and its affiliates filed for Chapter 11 protection on
March 16, 2009 (Bankr. N.D. Ohio Lead Case No. 09-40795).  Paul W.
Linehan, Esq., and Shawn M Riley, Esq., at McDonald Hopkins LLC,
serve as lead counsel to the Debtors.  The Debtors also tapped
Michael A. Gallo, Esq. at Nadler Nadler & Burdman Co., LPA as co-
counsel; Kurtzman Carson Consultants LLC as claims, noticing and
balloting agent; and Huron Consulting Services LLC as financial
advisors.  Alston & Bird LLP represents the official committee of
unsecured creditors formed in the Chapter 11 cases.  In its
petition, Forum Health estimated $100 million to $500 million in
assets and debts.


GENTA INC: Audit Committee Taps EisnerAmper LLP as Accountant
-------------------------------------------------------------
Genta Incorporated notified on Aug. 16, 2010, that Amper,
Politziner and Mattia LLP, the Company's independent registered
public accounting firm, combined its practice with that of Eisner
LLP and the name of the combined practice operates under the name
EisnerAmper LLP.  The Audit Committee of the Company's Board of
Directors has engaged EisnerAmper LLP to serve as the Company's
new independent registered public accounting firm.

                            About Genta

Berkeley Heights, New Jersey, Genta Incorporated (OTCBB: GETA.OB)
-- http://www.genta.com/-- is a biopharmaceutical company with a
diversified product portfolio that is focused on delivering
innovative products for the treatment of patients with cancer.

                           *     *     *

Genta Incorporated's balance sheet at June 30, 2010, showed
$24.11 million in total assets, $6.39 million in total current
liabilities, $145.17 million in total long-term liabilities, and
stockholders' deficit of $127.44 million.


GLOBAL BRASS: S&P Assigns 'B' Corporate Credit Rating
-----------------------------------------------------
Standard & Poor's Ratings Services assigned a 'B' corporate credit
rating to Schaumburg, Ill.-based Global Brass and Copper Inc. The
rating outlook is stable.

At the same time, S&P also assigned a 'B' (the same as the
corporate credit rating) issue-level rating to GBC's $315 million
senior secured term loan due 2015.  The recovery rating is '4',
indicating S&P's expectation of average (30%-50%) recovery for
lenders in the event of a payment default.  These ratings follow
S&P's previous assignment of preliminary ratings on July 29, 2010.

S&P expects the company to use proceeds from the term loan,
combined with borrowings under a new asset-based revolving credit
facility, to refinance its existing indebtedness, fund a
distribution to the equity sponsor, and to pay fees and expenses
related to the transaction.

"The 'B' corporate credit rating on Global Brass and Copper
reflects the combination of the company's vulnerable business risk
profile and aggressive financial risk profile," said Standard &
Poor's credit analyst Maurice Austin.  The company is exposed to
cyclical end markets, including building and construction,
defense, electrical and electronics, and industrial machinery and
equipment, which can result in wide variations in operating
performance.  In addition, the company's vulnerable business risk
profile reflects its relative small scale and scope compared with
other metals producers and distributors.  The rating also takes
into consideration S&P's view that the company should have
adequate liquidity (after giving effect to the financing
transactions) to meet its near-term obligations, that it has long-
standing customer relationships, and has improved its
profitability by lowering its operating costs and enhancing its
operational flexibility.

The stable rating outlook reflects S&P's expectation that GBC will
maintain credit measures at a level appropriate for a 'B' rating.
Specifically, S&P expects adjusted debt to EBITDA of about 4.5x by
the end of 2010 as S&P has begun to see a gradual recovery in
demand in GBC's end markets, resulting in both improved pricing
and volumes.

S&P would consider a negative rating action if, as a result of
deterioration in operating performance during the next several
quarters, the company's credit measures weakened to a level that
S&P would consider inconsistent with the current 'B' rating.
Specifically, if adjusted debt to EBITDA were to exceed and likely
remain at more than 6x, which could occur if new housing starts
and automobile sales reverse current trends and decline or if they
increase at a slower pace than expected.

A positive rating action could occur if better operating
performance generates free operating cash flow that is used to
reduce the debt balance and consequently improve credit measures
to a level more consistent with a higher rating.  Specifically, if
debt to EBITDA improves and is maintained below 4x.


GLORIA FONTANILLA: Case Summary & 9 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Gloria T. Fontanilla
        5573 N. Desert Saguardo Court
        Tucson, AZ 85745

Bankruptcy Case No.: 10-26210

Chapter 11 Petition Date: August 18, 2010

Court: United States Bankruptcy Court
       District of Arizona (Tucson)

Judge: Eileen W. Hollowell

Debtor's Counsel: Eric Slocum Sparks, Esq.
                  ERIC SLOCUM SPARKS P.C.
                  110 S Church Ave #2270
                  Tucson, AZ 85701
                  Tel: (520) 623-8330
                  Fax: (520) 623-9157
                  E-mail: eric@ericslocumsparkspc.com

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

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

A list of the Debtor's nine largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/azb10-26210.pdf


GREAT ATLANTIC & PACIFIC: Erivan Karl Haub Reports Equity Stake
---------------------------------------------------------------
Erivan Karl Haub, a 10% owner of Great Atlantic & Pacific Tea Co.
Inc. common shares, disclosed acquiring 5,000 shares at $2.93 a
share on August 19, raising his stake to 340,100 shares.  He
directly holds those shares.  Mr. Haub may also be deemed to
indirectly hold:

     -- 15,550 shares through his spouse;

     -- 22,495,371 shares through Tengelmann
        Warenhandelsgesellschaft KG; and

     -- 1,290,393 through Emil Capital Partners, LLC

As of July 26, 2010, the Company had a total of 56,168,776 shares
of common stock, $1 par value outstanding.

Paul Hertz, executive vice-president of operations at Great
Atlantic & Pacific Tea, disclosed in a Form 3 filed with the
Securities and Exchange Commission on August 23 that he does not
hold any securities in the company.

                            About A&P

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

The Company's balance sheet at June 19, 2010, showed $2.6 billion
in total assets, $897.0 million in total current liabilities, $2.3
billion in total non-current liabilities, $135.0 million series A
redeemable preferred stock, and $659.0 million in stockholders'
deficit.

Great Atlantic carries 'Caa3' probability of default and corporate
family ratings from Moody's Investors Service and a 'CCC'
corporate credit rating from Standard & Poor's.

At the end of July 2010, when Moody's downgraded the SGL rating to
SGL-4 (reflecting weak liquidity), Moody's said, "A&P does have
sufficient liquidity to meet immediate operating needs, but
liquidity is strained over the next four quarters as a result of
the company's debt maturity in June 2011."  S&P, in July 2010,
when it lowered the corporate rating to 'CCC' from 'CCC+', said it
"expects weak trends to continue and the company to be
significantly cash flow negative."


GREENBRIER COS: Fidelity, FMR Report 4.879% of Common Stock
-----------------------------------------------------------
Boston-based 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 1,080,969 shares or 4.879% of the common stock
outstanding of The Greenbrier Companies Inc.

The number of shares of Common Stock of Greenbrier Cos. owned by
the investment companies at July 31, 2010 included 114,469 shares
of Common Stock resulting from the assumed conversion of
$5,500,000 principal amount of GREENBR CV 2.375% 5/15/26 (20.8125
shares of Common Stock for each $1,000 principal amount of
debenture).  The number of Greenbrier Cos. shares owned by the
investment companies at July 31, 2010 included 166,500 shares of
Common Stock resulting from the assumed conversion of $8,000,000
principal amount of GREENBRIER CV 2.375% 5/15/26 (20.8125 shares
of Common Stock for each $1,000 principal amount of debenture).

                       About Greenbrier Cos.

Based in Lake Oswego, Oregon, The Greenbrier Companies Inc.
operates in three primary business segments: manufacturing,
refurbishment and parts, and leasing and services.  The
manufacturing segment, operating from four facilities in the
United States, Mexico and Poland, produces double-stack intermodal
railcars, conventional railcars, tank cars and marine vessels.
The refurbishment & parts segment performs railcar repair,
refurbishment and maintenance activities in the United States and
Mexico.  The leasing & services segment owns roughly 8,000
railcars and provides management services for roughly 225,000
railcars.

                           *     *     *

As reported by the Troubled Company Reporter on August 19, 2010,
Moody's Investors Service raised its Speculative Grade Liquidity
Rating for The Greenbrier Companies to SGL-3 from SGL-4.  At the
same time, Moody's affirmed the company's existing ratings,
including the corporate family rating of Caa1.  Greenbrier's
rating outlook is negative in consideration of the continued
sluggish demand for new railcars and the company's need to address
certain refinancing needs.


GENERAL GROWTH: Court Sets October 21 Plan Confirmation Hearing
---------------------------------------------------------------
Judge Allan L. Gropper of the U.S. Bankruptcy Court for the
Southern District of New York approved on August 19, 2010, the
Disclosure Statement explaining the Second Amended Joint Plan of
Reorganization of General Growth Properties, Inc., and 125 of its
debtor affiliates, according to the company's public statement on
August 19.

"Approval of our Disclosure Statement moves us one step closer to
the successful completion of GGP's restructuring," said Adam Metz,
chief executive officer of GGP.  "Prior to our Chapter 11 filing,
GGP had almost $28 billion of mostly short-term debt and a broad
range of real estate assets.  We are now positioned to emerge from
bankruptcy as two focused companies with $15 billion of extended
maturities and approximately $7 billion of equity capital provided
by our new investors," Mr. Metz said.

"One entity, GGP, will remain one of the nation's largest REITs
with a more focused business strategy concentrating on high-
quality regional shopping centers.  The other, Spinco, will have a
diverse collection of assets with attractive development
opportunities and a new Board and management team whose sole focus
will be to maximize the long-term potential of those properties.
We are confident our Plan will be confirmed and GGP will emerge
from Chapter 11 as scheduled," Mr. Metz continued.

                       August 19 Disclosure
                         Statement Hearing

"This is a case where we're not arranging the deck chairs on the
Titanic," Judge Gropper was quoted by Reuters as saying, at the
Disclosure Statement hearing on August 19, 2010.

According to Bloomberg News, GGP resolved most objections to the
Disclosure Statement before the August 19 hearing.  However,
Michael Stamer, Esq., at Akin Gump Strauss Hauer & Feld LLP, in
New York, counsel to the Official Committee of Unsecured
Creditors, says unsecured creditors still have significant
problems with the Plan.  Indeed, the Plan Debtors filed with the
Court their 2nd Amended Plan on August 17, 2010, to address the
objections to the Disclosure Statement.

The Creditors' Committee previously disagreed with the
discrimination of claims treatment in favor of REP Investments
LLC, Fairholme Capital Management and Pershing Square Capital in
Classes 4.6, 4.8 and 4.11.  Reuters cites the interest on some
notes and the dispute with the Hughes Heirs are some of the issues
to be worked out.  Counsel to the Hughes Heirs told Reuters that
most of them already have decided to vote against the 2nd Amended
Plan.

As noted by GGP in its response to objections to the Disclosure
Statement, certain issues raised in the Disclosure Statement
objections should be addressed in the context of the confirmation
of the Plan.

                      Confirmation Hearing
                      Scheduled for Oct. 21

Judge Gropper set a hearing to consider confirmation of the 2nd
Amended Plan on October 21, 2010.

A formal order on the Disclosure Statement approval is not yet
available in the Court's dockets.

                       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: Proposes to Engage in Corporate Structure Deals
---------------------------------------------------------------
General Growth Properties, Inc., and its units seek the Court's
authority for General Growth Properties Inc., in its sole
discretion, to take or cause to be taken any corporate actions
permitted by applicable law and the respective Debtor or non-
Debtor affiliate's organizational documents, and determined by
General Growth to be necessary or appropriate to implement the
transactions.

To streamline administration of its financial accounting and tax
reporting, General Growth plans to merge, dissolve, convert or
consolidate certain Debtor and non-Debtor affiliates.  These
transactions, known as "Corporate Structure Transactions," will
either eliminate minority interests or are a step towards the
ultimate goal of eliminating minority interests held by
approximately six Debtor and fifteen non-Debtor entities, Stephen
A. Youngman, Esq., at Weil, Gotshal & Manges LLP, in New York,
tells the Court.

The aggregate value of all property interests to be transferred,
consisting primarily of less than 1% ownership interests in other
entities, pursuant to the proposed Corporate Structure
Transactions is estimated at approximately $3.1 million.  Mr.
Youngman says General Growth, as a matter of ordinary course,
undertook these types of transactions before the Petition Date.
While General Growth's proposed Plan of Reorganization
contemplates that it may undertake similar corporate restructuring
transactions in connection with or after the effective date of the
Plan, General Growth is seeking authority now, in an abundance of
caution, so that it may, with respect to these Restructured
Entities, proceed with the Corporate Structure Transactions now,
prior to confirmation of the Plan, Mr. Youngman tells the Court.
These Corporate Structure Transactions are the same type of
transactions undertaken outside of Chapter 11 in the ordinary
course prior to the Petition Date, he says.

General Growth, Mr. Youngman relates, intends to take or cause to
be taken certain corporate actions, including, without limitation:

    (i) causing any or all of the Restructured Entities to be
        merged into or contributed to certain Debtors or non
        Debtor affiliates, dissolved or otherwise consolidated
        or converted;

   (ii) transferring Assets between or among certain Debtors
        and non-Debtor affiliates;

  (iii) changing the legal name of any one or more of the
        Restructured Entities; and

   (iv) engaging in other transactions or taking other and
        further actions permitted by applicable law and the
        respective Debtor's or non-Debtor affiliate's
        organizational documents and determined by General
        Growth to be necessary or appropriate to implement the
        aforementioned transactions.

Diagrams demonstrating the proposed Corporate Structure
Transactions on a property-by-property basis are available for
free at http://bankrupt.com/misc/ggpcorpchart.pdf

For each property affected by the proposed Corporate Structure
Transactions, the diagrams provide: (i) a description of the
corporate steps necessary to implement the Corporate Structure
Transaction; (ii) a structure chart showing the current corporate
structure, combined with an illustration of the changes necessary
to effectuate the proposed Corporate Structure Transaction; and
(iii) a structure chart showing the projected corporate structure
upon consummation of the Corporate Structure Transaction.

                       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: Wins Nod to Issue Anchor Transactions Indemnities
-----------------------------------------------------------------
General Growth Properties, Inc., and its debtor affiliate sought
and obtained the Court's permission to:

  (i) issue indemnities and guaranties in connection with
      lease of certain real property, including vacant land,
      buildings or space in buildings in its shopping centers to
      certain parties -- Anchor Transactions; and

(ii) issue certain guaranties in favor of non-Debtor affiliates
      in connection with certain loan transactions involving
      those affiliates, without further notice or order from the
      Court.

In the ordinary course, GGP conveys or leases certain real
property, including vacant land, buildings or space in buildings
in its shopping centers to certain parties.  The applicable GGP
entity may be required to obtain the consent of its secured
lender prior to undertaking all or a portion of the obligations
relating to the Anchor Transaction.  In connection with certain
obligations under the Anchor Transactions, GGP may be obligated
under its loan documents with its Secured Lender to provide
additional security in the form of cash or an indemnity.

As part on an Anchor Transaction, GGP may agree to pay a
construction allowance of an agreed upon amount -- Anchor
Allowance.  In connection with that allowance, a Debtor may
provide a guaranty on behalf of a non-debtor affiliate for a
capital contribution to be made by the non-debtor affiliate to an
Anchor Owner.  GGP affiliates also may borrow money on
advantageous terms to satisfy an Anchor Allowance subject to
their property-level secured mortgage loan documents.  Before
providing those loans, however, the lender may require a guaranty
from a Debtor on behalf of a non-debtor affiliate for the Anchor
Allowance Loan.

General Growth is negotiating Anchor Indemnities, Anchor
Allowance Guaranties, and Anchor Allowance Loan Guaranties in
connection with certain pending Anchor Transactions, Stephen A.
Youngman, Esq., at Weil, Gotshal & Manges LLP, in New York,
relates.

General Growth also anticipates the need for one or more Debtors
to issue guaranties to lenders in connection with the potential
refinancing of three non-Debtor joint venture affiliate property-
level mortgage loans, which loans are scheduled to mature within
the next four months, Mr. Youngman discloses.  Under an Affiliate
Guaranty, a Debtor may provide a payment or performance guaranty
with respect to all or a portion of the obligations arising under
the applicable loan related refinancing, a non-recourse carveout
guaranty, an environmental guaranty, or an indemnity for tenant
allowances that are unfunded at the time of refinancing.

GGP believes that issuance of Anchor Indemnities, Anchor
Allowance Guaranties, and Anchor Allowance Loan Guaranties in
connection with Anchor Transactions is in the ordinary course of
its business.  However, to satisfy the need of certain
counterparties to the Anchor Transactions for certainty, GGP
filed this motion, Mr. Youngman tells the Court.

More importantly, Mr. Youngman emphasizes that the Anchor
Transactions are key factors by which GGP is able to attract
tenants for the Shopping Centers.  Through the Anchor
Transactions, GGP is able to achieve the confirmed, long-term
presence of Anchors at the Shopping Centers and, in turn,
increase the likelihood that it can attract and retain additional
desirable tenants in the Shopping Centers, he elaborates.  This
results in Shopping Centers that appeal to a larger customer base
and a tenant base that is willing to pay higher rent than GGP
would otherwise receive in the absence of the presence of the
Anchor at the Shopping Center, he adds.

Similarly, the issuance of Affiliate Guaranties will permit
continued stability at the various affiliates seeking to
refinance debt with upcoming maturities by allowing the affiliate
to secure loans on favorable terms, Mr. Youngman points out.
Since GGP is an integrated company, those immediate benefits for
its affiliate will inure to General Growth through the continued
stability and profitability of its Shopping Centers, he
maintains.

GGP further seeks that any order approving the Indemnities Motion
should be effective immediately by waiving the l4-day stay under
Bankruptcy Rules 6004(h) of the Federal Rules of Bankruptcy
Procedure.  If the order is stayed, the Anchor Owners will
possibly wait until the order becomes final before commencing
construction, thus risking a delay in opening the Anchor, or
decide not into enter into the Anchor Transaction with GGP at
all, Mr. Youngman stresses.

In a related request, GGP asks the Court to shorten the notice
period with respect to the Indemnities Motion and set the
Indemnities Motion for a hearing on August 19, 2010.  Mr. Youngman
says the first of the upcoming affiliate debt maturities is
scheduled for September 1, 2010.  Absent a shortened notice
period, GGP may not be able to refinance this joint-venture debt
with the most attractive financing available, he asserts.

                           *     *     *

Judge Gropper further ruled that nothing in this order will
enhance, increase, limit, or impair the rights of General Growth
Properties, Inc., or the Secured Lenders, if any, under the Loan
Documents with respect to the Anchor Transactions.  Similarly,
nothing in the order will modify the Department Store Transaction
Order or the Anchor Lease Transaction Order, Judge Gropper added.

Judge Gropper also ordered GGP to provide notice to each of the
Official Committee of Unsecured Creditors and Official Committee
of Equity Security Holders within 14 days after issuing an Anchor
Indemnity, Anchor Allowance Guaranty, Anchor Allowance Loan
Guaranty or Affiliate Guaranty.

Judge Gropper further waived the 14-day stay of Rule 6004(h) of
the Federal Rules of Bankruptcy Procedure, and the order will be
effective immediately.

                       About General Growth

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

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

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


GENERAL MOTORS: Asbestos Rep. Appointment Effective Nov. 13, 2009
-----------------------------------------------------------------
Dean M. Trafelet asked the U.S. Bankruptcy Court to specify the
effective date of his appointment as legal representative of
individuals who were exposed to asbestos or asbestos-containing
products that were manufactured, sold, supplied, produced,
distributed, released, or marketed by any of the Debtors but who,
prior to confirmation of a Chapter 11 plan for Motors Liquidation
Company, have not manifested symptoms of asbestos-related diseases
resulting from those exposures.

Mr. Trafelet also asked Judge Gerber to direct the Debtors to
reimburse him for his professional fees and expenses incurred
prior to his Appointment on April 8, 2010, as Future Claimants'
Representative, or in the alternative, grant him an administrative
expense claim pursuant to Section 503(a) or (b) of the Bankruptcy
Code.

Sander L. Esserman, Esq., at Stutzman, Bromberg, Esserman &
Plifka, A Professional Corporation, in Dallas, Texas, related that
as early as November 2009, the Debtors contacted Mr. Trafelet
regarding their intended retention of a future claimants'
representative in their Chapter 11 cases.  At that time, at the
request of the Debtors, Mr. Trafelet began performing valuable
services and incurring expenses for the benefit of the Debtors.
Virtually all of the services performed during this time period
were performed at the behest of the Debtors and their counsel, Mr.
Esserman said.

The Future Claimants' Representative and his professionals, served
their first monthly fee statements on the appropriate notice
parties on or about May 20, 2010.  The Future Claimants'
Representative's first monthly fee statement sought compensation
for his services rendered and reimbursement of expenses incurred
for the period from November 13, 2009, through and including
April 30, 2010.

Mr. Esserman specified that Mr. Trafelet's First Monthly Statement
sought compensation for professional services rendered in the
amount of $32,185 and reimbursement of $2,046 in expenses, the
majority of which was incurred at the request of the Debtors and
prior to April 8, 2010.

The Debtors, however, refuse to compensate the Future Claimants'
Representative for the professional fees and expenses that he
incurred during the period from November 13, 2009 through and
including April 7, 2010.  The objected to payment of $21,587 in
fees and $1,464.27 in expenses, all of which were incurred
performing services for the benefit of the Debtors and all of
which were necessary to his role as Future Claimants'
Representative, Mr. Esserman told Judge Gerber.

Attempts to resolve the dispute over the appropriate effective
date of the Future Claimants' Representative's appointment and the
compensability of the foregoing fees and expenses have been
unsuccessful, he added.

No objections to the Future Claimants' Representative's Motion
were filed.

                     *     *     *

The Court clarified that Mr. Trafelet's appointment as the Future
Claimants' Representative in the Debtors' cases "is effective as
of November 13, 2009."

Judge Gerber authorized and directed the Debtors to compensate the
Future Claimants' Representative for the services he rendered, and
expenses incurred during the period from November 13, 2009,
through and including April 7, 2010, totaling $23,051, which
consists of $21,587 in fees and $1,464 in expenses.

                       About General Motors

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

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

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

                   About Motors Liquidation

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

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

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


GENERAL MOTORS: Committee Wins Order for Asbestos Information
-------------------------------------------------------------
Judge Robert E. Gerber of the U.S. Bankruptcy Court for the
Southern District of New York authorized the Official Committee of
Unsecured Creditors for Motors Liquidation Co. to serve subpoenas
pursuant to Rule 2004 of the Federal Rules of Bankruptcy
Procedure, compelling the production of documents by:

(i) the Delaware Claims Processing Facility and Claims
     Resolution Management Corporation for certain trusts
     created pursuant to Section 524(g) of the Bankruptcy Code;
     and

(ii) General Motors LLC or New GM and the Debtors.

The Claims Processing Facilities are with respect to Armstrong
World Industries Asbestos Personal Injury Settlement Trust,
Babcock & Wilcox Company Asbestos Personal Injury Settlement
Trust, Celotex Asbestos Settlement Trust, DII Industries, LLC
Asbestos PI Trust, Owens Corning Fibreboard Asbestos Personal
Injury Trust-FB Subfund, Owens Corning Fibreboard Asbestos
Personal Injury Trust-OC Subfund, United States Gypsum Asbestos
Personal Injury Settlement Trust and Manville Personal Injury
Settlement Trust.

For the reasons stated on the record at the hearing of August 9,
2010, the Court clarified that the term "Mesothelioma Claimants"
will mean all claimants specified by the Creditors' Committee who
filed a prepetition lawsuit against one or more of the Debtors for
mesothelioma.

After the Court's entry of (i) the Approval Order and (ii) a
confidentiality order governing the treatment of information
produced, the Debtors and GM, as applicable, will produce the
names and complete Social Security Numbers, to the extent
available, of all claimants who filed a prepetition asbestos
personal injury lawsuit against one or more of the Debtors,
without the need for service of any document requests or
subpoenas, to the estimation experts retained in the Debtors'
cases by the Creditors' Committee, the Official Committee of
Unsecured Creditors Holding Asbestos-Related Claims, the Future
Claims Representative and the Debtors.

The Estimation Experts are:

  -- Bates White LLC;
  -- Legal Analysis Systems, Inc.;
  -- Analysis, Research and Planning Corporation; and
  -- Hamilton, Rabinovitz & Associates, Inc.

The SSN Information will be provided in an electronic format,
linked to the other data contained in the asbestos claims database
that the Debtors and GM have previously furnished to the
Estimation Experts.

Judge Gerber directed Bates White to provide to the Claims
Processing Facilities and the Trusts a list of names of the
Mesothelioma Claimants, together with certain other identifying
information.

The Court also permitted the Creditors' Committee to serve
document Subpoenas on counsel for the Claims Processing Facilities
and Trusts, directing the production of these information with
respect to each Trust:

  (a) the claim information electronically maintained by the
      Trusts in current data field format for each identifiable
      Mesothelioma Claimant, but excluding medical and financial
      information and medical and financial records;

  (b) the amounts paid to each Mesothelioma Claimant by each
      Trust; and

  (c) the claim status of each Mesothelioma Claimant who filed a
      claim against any Trust but has received no recovery from
      that Trust.

The Claims Processing Facilities and the Trusts will provide
notice of the Court's Order to all identifiable Mesothelioma
Claimants who have filed a claim against one or more of the
Trusts, the Court said.

Mesothelioma Claimants will have two weeks from the date of the
Notice of Order to object to the disclosure of the Information
sought in the Subpoenas.  The Trusts and Claims Processing
Facility will not be subject to any actions, claims, or demands by
Mesothelioma Claimants or any other Party as a result of their
good faith compliance with the Court's Order.

In the event Objections are filed, the Creditors' Committee and
other parties-in-interest will file responses and a hearing on the
objections will be scheduled at the convenience of the Court.

Prior to service of the Subpoenas, the Creditors' Committee, the
Claims Processing Facilities, the Trusts, the Asbestos Claimants
Committee, the Future Claims Representative, the Debtors and GM
will continue their efforts to reach agreement on the terms of an
Anonymity Protocol.

In the event that the Creditors' Committee, the Claims Processing
Facilities, the Trusts, the Asbestos Claimants Committee, the
Future Claims Representative, the Debtors and GM are unable to
reach agreement reach agreement on the terms of an Anonymity
Protocol prior to service of the Subpoenas, the Creditors'
Committee will not issue the Subpoenas, and the parties will
instead submit to the Court a stipulation embodying the terms of
the Anonymity Protocol.

The Court also entitled the Claims Processing Facilities and the
Trusts to prompt reimbursement for their reasonable out-of-pocket
costs of producing information, but will not be entitled to
reimbursement for overhead, other fixed costs, or attorney's fees.

Judge Gerber directed the Debtors and GM to produce to the
Creditors' Committee, the Asbestos Claimants Committee, and the
Future Claims Representative -- without the need for service of
document requests or subpoenas by the Creditors' Committee -- the
complaints, case-specific interrogatory responses served by
plaintiffs, and transcripts of the depositions of the plaintiffs
in the approximately 650 Mesothelioma Cases identified on the list
that the Creditors' Committee has provided to the Debtors and GM.

All reasonable fees and expenses incurred in connection with the
production of the Case File Documents by attorneys who represented
the Debtors in the 650 Mesothelioma Cases prior to the
commencement of these cases will be paid by the Debtors' estates,
whether or not such firms have been retained in the Chapter 11
cases pursuant to an order of the Court, the Court ruled.

                       About General Motors

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

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

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

                   About Motors Liquidation

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

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

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


GENERAL MOTORS: New GM Files Prospectus on Initial Public Offering
------------------------------------------------------------------
General Motors Co. filed with the U.S. Securities and Exchange
Commission on August 18, 2010, documents in relation to its
initial public stock offering.

The IPO is the first step in GM's plan to sell stock that would
pay back billions of dollars of taxpayer support.  The U.S.
Government currently owns almost 61% of GM after converting
$43 billion of the $50 billion in funding to the automaker into
equity.

GM Chairman and Chief Executive Officer Edward E. Whitacre,
according to an August 5 report from The Detroit Free Press, has
asked the U.S. Department of the Treasury sell as large a stake in
the Company as possible.  "We want the government out.  Period.
We don't want to be known as Government Motors," the newspaper
quoted the CEO as saying.

GM's Public Offering is "expected to mark one of the biggest
global IPOs," according to Reuters, noting that "the long-running
confidential preparations for the IPO were dubbed 'Project Dawn'
by the group of bankers, Treasury officials and GM executives led
by Chief Financial Officer Chris Liddell."

In the SEC disclosure, Mr. Whitacre said that the GM common stock
offered by the selling stockholders and the price range have not
been determined.

Immediately following the IPO, the GM Common Stock to be
outstanding is 500,000,000 shares, based on the Shares outstanding
as of July 31, 2010, but excludes:

   * 45,454,545 Shares issuable upon the exercise of warrants
     held by Motors Liquidation Co. as of July 31, 2010, at an
     exercise price of $30.00 per share;

   * 45,454,545 Shares issuable upon the exercise of warrants
     held by MLC as of July 31, 2010, at an exercise price of
     $55.00 per share; and

   * 15,151,515 Shares issuable upon the exercise of warrants
     held by the UAW Retiree Medical Benefits Trust (New VEBA)
     as of July 31, 2010 at an exercise price of $126.92 per
     share.

Holders of GM Stock are entitled to one vote for each share of
common stock held.  GM intends to apply for listing of the common
stock on the New York Stock Exchange and the Toronto Stock
Exchange, Mr. Whitacre said.

                      IPO Underwriters

Under the terms and subject to the conditions in an underwriting
agreement dated August 18, 2010, these Underwriters have severally
agreed to purchase, and GM has agreed to sell, undisclosed shares
of Series B Preferred Stock:

  (1) Morgan Stanley & Co. Incorporated
  (2) J.P. Morgan Securities Inc.
  (3) Goldman, Sachs & Co.
  (4) Merrill Lynch, Pierce, Fenner & Smith Incorporated
  (5) Barclays Capital Inc.
  (6) Citigroup Global Markets Inc.
  (7) Credit Suisse Securities (USA) LLC
  (8) Deutsche Bank Securities Inc.
  (9) RBC Capital Markets Corporation
(10) UBS Securities LLC

Morgan Stanley and J.P. Morgan are acting as representatives of
the Underwriters.

As previously reported, GM secured a $5 billion credit facility
with the Underwriters, each of which committed up to $500 million
to the credit line.  There is a chance other entities could sign
in light of the high demand for the loan.  The individual
commitments amount could shrink but the Facility would likely
remain at $5 billion.

The revolving Credit Facility allows GM to borrow money and
bolster the Company's balance sheet.  It also provides "a
financial cushion" should the Company's plans for recovery
encounter roadblocks, the Wall Street Journal said.

The Underwriters do not intend sales to discretionary accounts to
exceed 5% of the total number of shares of Series B preferred
stock offered by them, according to Mr. Whitacre.

In its SEC filing, GM did not disclose the estimated net proceeds
from the concurrent offering of its Series B preferred stock.  "We
intend to use the anticipated Net Proceeds from the concurrent
offering of our Series B preferred stock for general corporate
purposes," Mr. Whitacre told the SEC.

                          Dividend Policy

"We have no current plans to pay dividends on our common stock,"
Mr. Whitacre added.  "Our payment of dividends on our common stock
in the future will be determined by our Board of Directors in its
sole discretion and will depend on business conditions, our
financial condition, earnings, liquidity and capital requirements,
the covenants in our VEBA Note Agreement, and other factors."

"So long as any share of our Series A Preferred Stock or our
Series B preferred stock remains outstanding, no dividend or
distribution may be declared or paid on our common stock unless
all accrued and unpaid dividends have been paid on our Series A
Preferred Stock and our Series B Preferred Stock," Mr. Whitacre
clarified.

                           Capitalization

GM has set forth its actual capitalization as of June 30, 2010,
which will be adjusted to: (i) the issuance and sale of shares of
Series B Preferred Stock, which is contingent upon the closing of
the offering of common stock; and (ii) GM's payment of
underwriting discounts and commissions and estimated offering
expenses in connection with the issuance and sale of the Series B
Preferred Stock.

                                             As of June 30, 2010
                                               Actual, Unaudited
                                             -------------------
Cash and cash equivalents                        $26,773,000,000
(Excluding restricted cash &
marketable securities)

Short-term debt, including current
portion of long-term debt                         5,524,000,000

Long-term debt                                     2,637,000,000

Series A Preferred Stock                           6,998,000,000

Stockholders' Equity                                           -

Common Stock                                           5,000,000

Capital surplus                                   24,052,000,000

Accumulated deficit                               (2,195,000,000)

Accumulated other comprehensive income             1,153,000,000
                                             -------------------
Total Stockholders' Equity                        23,015,000,000
                                             -------------------
Total Capitalization                             $38,174,000,000
                                             ===================

The balance sheet classification of the Series B preferred stock
will be determined in accordance with applicable accounting
requirements upon closing of the common stock offering and
issuance of such preferred stock.

GM's Prospectus filed on Form S-1 is available with the SEC
at http://ResearchArchives.com/t/s?69aa

                       About General Motors

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

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

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

                   About Motors Liquidation

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

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

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


GENERAL MOTORS: Old GM Proposes 3rd Amendment to APS Engagement
---------------------------------------------------------------
Motors Liquidation Company seeks the authority of U.S. Bankruptcy
Judge Robert Gerber to further amend the terms of their engagement
letter with AP Services, LLC, dated June 7, 2010, under Section
363 of the Bankruptcy Code.

APS was retained to provide crisis management and restructuring
services to the Debtors.

Harvey R. Miller, Esq., at Weil, Gotshal & Manges LLP, in New
York, relates that pursuant to a Third Amendment, the terms of
APS's engagement are to be amended to adjust various payment terms
as agreed to by the United States Department of the Treasury.

Notably, all amounts payable to APS pursuant to its engagement by
the Debtors are payable from the proceeds of the debtor-in-
possession credit agreement provided by the U.S. Treasury,
pursuant to which $1,175,000,000 was loaned to Motors Liquidation
to fund the wind-down of the Debtors' estates, Mr. Miller says.

Mr. Miller recalls that in August 2009 and November 2009, the APS
Engagement was amended to, among other things, to clarify (i) the
services that APS and its affiliates would be providing to General
Motors Strasbourg SAS, a non-Debtor foreign subsidiary of the
Debtors; and (ii) the payment arrangements to APS with respect to
such services.

As the administration of the Chapter 11 cases has progressed --
including with respect to the Debtors' sale sale of substantially
all their assets pursuant to Section 363 of the Bankruptcy Code to
NGMCO, Inc., a U.S. Treasury-sponsored purchaser, -- it has become
apparent that the compensation structure contained in the Amended
APS Engagement Letter "was not appropriately designed and, in
fact, provided inappropriate incentives for APS," Mr. Miller
emphasized.

Mr. Miller cited that, among other things, APS' ability to obtain
as an incentive payment a portion of the funds returned to the DIP
Lenders with respect of the DIP Facility did not serve to promote
a prompt and efficient resolution of environmental-related issues
as to property owned by the Debtors.

Additionally, he noted, the Incentive Payments "based on
expeditious distributions to prepetition creditors did not
necessarily promote the orderly administration of [the Debtors']
estates and the appropriate manner to address disputed or
unliquidated claims."

Recognizing these factors, the Third Amendment was formulated.  It
has the full support of the UST, "which . . . is the party with
the real economic stake in the compensation structure of the
engagement of APS by the Debtors," according to Mr. Miller.

The Third Amendment provides for certain modifications to the
Amended Engagement Letter which, in principal part, provides for
these terms:

  (1) The Hourly Fee Reductions will be deleted and replaced
      with hourly fees that will be paid at rates as set forth
      in the Engagement Letter, which rates have been updated in
      the ordinary course for the 2010 calendar year and as they
      may be further modified.

      The hourly rate changes will be retroactive to July 10,
      2009, and through April 30, 2010, this adjustment
      aggregates approximately $5.3 million.  This retroactive
      adjustment will be payable by the Debtors upon approval of
      the Third Amendment.

  (2) The existing discretionary fees provided for in the
      Amended Engagement Letter will be replaced in their
      entirety with these terms:

     (a) If the total unsecured claims pool is less than
         $35 billion, APS will be paid a Discretionary Fee of
         $5.0 million.  If the total unsecured claims pool is
         equal to or greater than $35 billion but less than
         $42 billion, APS will be paid a Discretionary Fee of
         $2.5 million.

         If the Claims pool is between $35 billion and
         $42 billion, the Discretionary Fee will be adjusted
         proportionately.

         In the event that the total unsecured claims pool
         exceeds $42 billion, APS will not be paid a
         Discretionary Fee.

     (b) When 70% or more of each of the common stock and
         warrants of the Purchaser, received by the Debtors in
         connection with the 363 Transaction, is distributed to
         the Debtors' unsecured creditors under a plan, APS will
         be entitled to a Discretionary Fee of $2.5 million.

     (c) In the event that the Debtors confirm a plan
         of liquidation that becomes effective, APS will be paid
         an Incentive Fee of $7 million.

Although the proposed amended compensation terms provide APS with
accelerated payment and certainty of amounts to be paid, it is
estimated by APS that the incentive payments provided for in the
Third Amendment are likely to result in 35% less in amount than
would be paid to APS if the Third Amendment did not become
effective, Mr. Miller notes.

All Discretionary and Incentive Fees that may be payable to APS
are payable from the proceeds of the DIP Facility and would not in
any way impact distribution to unsecured creditors or other
parties-in-interest in these cases, Mr. Miller clarifies.

         APS Files for Approval of $6.5MM Success Fee

Subsequently, APS sought the approval and payment of its
contingent success fee for $6,500,000.

The Success Fee of $13 million was earned by APS for work
performed prior to July 10, 2009, and was payable $6.5 million at
closing and $6.5 million on July 10, 2010, which is the first
anniversary of the closing of the [363 Sale," relates APS
Authorized Representative Albert A. Koch.

Mr. Koch also submitted to Judge Gerber supplemental applications
and a declaration detailing the work performed by his firm in the
Debtors' cases, in support of the Success Fee Application.

                           Objections

Tracy Hope Davis, the Acting United States Trustee for Region 2,
contends that several features of the proposed compensation scheme
in the Third Amended Engagement Letter need "further elaboration"
to enable a determination on whether the revised compensation
structure is a sound exercise of the Debtors' business judgment.

Part of AP Services' new compensation scheme provides for a
retroactive change in the firm's previously discounted hourly fee,
which provides the firm with an additional estimated $5.3 million
in hourly compensation.  It is not clear how the Debtors arrived
at this $5.3 Million figure, Ms. Davis says.

With respect to the new $7.0 million incentive payment for APS
whenever a plan of reorganization may go effective -- in place of
a prior confirmation incentive payment of $2.5 million, and in
place of other current incentive payments --, the extent to which
priority claims are asserted against the Debtors; the extent to
which priority claims are reduced; and the best information
currently available regarding the amount of money projected to be
returned to the U.S. Treasury, must be determined.

Substantial uncertainty also surrounds the Debtors' assertion that
"the incentive payments provided for in the Third Amendment are
likely to result in 35 percent less than would be paid to [AP
Services] if the Third Amendment did not become effective."  How
AP Services arrived at this 35 percent reduction, and the
incentive fees at issue, has not been publicly disclosed, Ms.
Davis tells Judge Gerber.

The U.S. Trustee also noted that the Application for Success Fee
fails to annex the time records that AP Services was required to
file.  Accordingly, the Application "falls short of providing the
information required to assess whether the payment is reasonable
within the meaning of [S]ections 330 and 331 [of the Bankruptcy
Code]."

The Official Committee of Unsecured Creditors said, in a limited
objection to the Debtors' Motion, that (i) the effective date of a
Chapter 11 plan in the Debtors' cases, and (ii) the timing of
distributions are "timing benchmarks" were not within APS'
control.  Accordingly, the Creditors' Committee understands why
APS wants to eliminate them.

Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel LLP,
in New York, relates however, that the Benchmarks provided some
public guidance to creditors on timing.  "The Committee believes
that there now needs to be more public disclosure of the
contemplated timeline for emergence and distribution," Mr. Mayer
notes.

Against this backdrop, the Creditors' Committee asks the Court to
approve the proposed Fourth Amendment to the Engagement Letter,
conditioned on the filing of monthly status reports by APS.  The
monthly status reports should contain these types of information:

  * status of a Chapter 11 plan and disclosure statement;

  * after the filing of a Chapter 11 plan and disclosure
    statement, the expected dates for a disclosure
    statement hearing and confirmation hearing;

  * after confirmation of a plan, the expected date for an
    effective date; and

  * after the effective date, the progress in distributions to
    unsecured creditors and the expected date for distributing
    70% of the common stock and warrants to unsecured creditors.

The proposed Monthly Reporting will provide necessary disclosure
to the Debtors' many constituents.  It is an appropriate predicate
to the award of discretionary and incentive payments, Mr. Mayer
notes.

In a separate filing, Fee Examiner Brady C. Williamson sought to
defer the consideration of the Application for Success Fee and the
relevant portions of the Debtors' Motion "because they are
premature."

"Notwithstanding the extraordinary efforts of the Debtors or the
"success" of the [Chapter 11] proceeding[s] to date, there is not
-- at least not yet -- basis for determining the reasonableness of
the Debtors' requests, which aggregate at least $11 million," Mr.
Williamson says.

                           Debtors Reply

The Debtors have provided the U.S. Trustee all time records from
July 1, 2009 through the last monthly invoices, comprising
approximately 4,000 pages.  The Debtors also provided APS's June
2009 invoice and time records, Harvey R. Miller, Esq., at Weil,
Gotshal & Manges LLP, in New York, says.

The Debtors do not see the benefit to any party of a further delay
of the Motion and the Success Fee Application, as requested by the
Fee Examiner.  "At this juncture, all parties should have all of
the necessary information pertinent to the matter before the Court
and the status of APS's retention should be resolved," Mr. Miller
notes.

The Debtors agree with the Creditors' Committee that public
disclosure is important.  The Debtors disagree, however, that APS,
in its capacity as a firm supplying interim management, should be
issuing any reports regarding case status.  "The Debtors will
continue to work cooperatively with the Committee to explore
potential avenues of public disclosure by the Debtors and the
Committee regarding the status of these cases that are helpful and
not potentially misleading," according Mr. Miller.

Stephen H. Case also submitted a declaration on behalf of the
Debtors, to further support the Motion.

Subsequently, Amy Caton and Thomas Moers Mayer, on behalf of the
Creditors' Committee, filed with the Court declarations supporting
the Debtors' Motion.

                       About General Motors

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

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

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

                   About Motors Liquidation

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

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

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


GEORGE W PARK: Court Accepts Blackstreet's $12.8-Mil. Offer
-----------------------------------------------------------
Jeffrey Collins at The Associated Press reports that a federal
bankruptcy judge on Monday accepted an offer from Chevy Chase,
Md.-based Blackstreet Capital to acquire South Carolina's troubled
Park Seed for $12.8 million.

The AP reports that, as part of the deal, Blackstreet agreed to
keep the company's roughly 200 permanent employees on the payroll
for at least three years.  If the firm doesn't, it will have to
pay $1.5 million in penalties split between the estate of company
founder George W. Park, the state and the county.

The AP says the Court gave approval after frenzied negotiations in
the courtroom and hallway that drove the best bid up $4 million in
four hours.

The AP says the Debtor's creditors were pleased with the offer.

The AP also notes that the first offer to buy was just more than
$1 million.   According to the AP, bankruptcy trustee Stan Neely,
who took over in April, recommended Blackstreet's bid over the
slightly higher bid of Garden Alive because of the promise to keep
jobs in Greenwood County.  The AP relates Mr. Neely said he
realized Park Seed's good name and deep roots in South Carolina
were worth a lot more.

The Troubled Company Reporter, citing Lesley Lane at GwdToday
News, reported Monday that George W. Park Seed Company named J & P
Park Acquistion, an affiliate of Blackstreet Capital, as stalking-
horse bidder for the assets.  J & P Park had an initial offer of
$7.09 million and deposited $400,000 as part of the purchase.

                          About Park Seed

Based in Greenwood, South Carolina, George W. Park Seed Co. Inc.,
along with four affiliates, filed for Chapter 11 protection on
April 2, 2010 (Bankr. D. S.C. Lead Case No. 10-02431).  R.
Geoffrey Levy, Esq., represents the Company in its restructuring
effort.  In its schedules, the Company disclosed $8.33 million in
assets and $44.79 million in liabilities.


GROVE STREET: Can Use Secured Creditors' Cash Until August 31
-------------------------------------------------------------
The Hon. Judith H. Wizmur of the U.S. Bankruptcy Court for the
District of New Jersey authorized, on an interim basis, Grove
Street Realty Urban Renewal LLC to access the secured creditors'
cash collateral until August 31, 2010.

As of the Petition Date, GE Business Financial Services, Inc. has
a secured claims of approximate principal amount of $31,390,752
secured by a subsisting first lien and security interest in
certain real property located at 370 Grove Street in the Township
of West Deptford, County of Gloucester, New Jersey.

TD Bank, N.A. has a secured claim of $3,000,000 secured by a
subsisting first lien and security interest in certain rela
propoerty located at 196 and 204 Grove Avenue, West Deptford, New
Jersey.

The Debtor may use the proceeds, products, rents, or profits of
the property and the fees, charges, accounts or other payments for
the use or occupancy of facilities to fund its operations
postpetition.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtors will grant the secured creditors (i)
replacement liens to the same extent and priority that the secured
creditors held prepetition; and (ii) interest payments.

The Court is yet to schedule a hearing on the Debtor's continued
use of the cash collateral.


                        About Grove Street

Sewell, New Jersey-based Grove Street Realty Urban Renewal, LLC,
owns certain parcels of real property at 370 Grove Street in the
Township of West Deptford, County of Gloucester, State of New
Jersey, commonly known as RiverWinds Cove Apartments.  The land
consists of improvements generally consisting of two buildings
containing in the aggregate approximately 215,832 square feet of
Class A residential apartment space, comprised of approximately
200 units, and having approximately 259 parking spaces.

The Company filed for Chapter 11 bankruptcy protection on July 1,
2010 (Bankr. D.N.J. Case No. 10-30427).  Albert A. Ciardi, III,
Esq., at Ciardi Ciardi & Astin, P.C., assists the Debtor in its
restructuring effort.  The Company estimated its assets and debts


GULFSTREAM CRANE: Plan Exclusivity Extended Until November 5
------------------------------------------------------------
The Hon. Raymond B. Ray of the U.S. Bankruptcy Court for the
Southern District of Florida extended, at the behest of Gulfstream
Crane, LLC, the exclusive periods within which to file a plan of
reorganization and to solicit affirmative votes from impaired
classes of claims or interests.

The Debtor had said that it needed the exclusive periods extended
for 60 days, saying that it is yet uncertain whether further
negotiations or amendments to the plan will be necessary.  The
Debtor had asked the exclusive filing period to be extended until
September 6, 2010, and the exclusive solicitation period until
November 5, 2010.

The exclusive solicitation period is extended through and
including November 5.

As reported by the TCR on July 21, 2010, the Debtor has filed with
the Court a proposed Plan of Liquidation.  The Debtor relates that
the Plan will represent a request to sell all of its right, title
and interest in and to the assets to the designee of Prophet
Equity LP, free and clear of claims, liens, interests and
encumbrances.  The confirmation order will constitute approval of
the sale.

                      About Gulfstream Crane

Pompano Beach, Florida-based Gulfstream Crane, LLC -- dba General
Crane -- is engaged primarily in the business of supplying and
renting crane, hoist and rigging equipment.  The Company operates
and maintains facilities in Florida, Georgia and Texas.

The Company filed for Chapter 11 bankruptcy protection on
December 8, 2009 (Bankr. S.D. Fla. Case No. 09-37091).  Michael D.
Seese, Esq., who has an office in Fort Lauderdale, Florida,
assists the Company in its restructuring effort.  The Company
estimated $50 million to $100,000 million in assets and debts in
its Chapter 11 petition.


HAMBONE DOG: Taps Nigle B. Barrow as Bankruptcy Counsel
-------------------------------------------------------
Hambone Dog Properties, LLC, asks for authorization from the U.S.
Bankruptcy Court for the Eastern District of North Carolina to
employ Nigle B. Barrow, Jr., as bankruptcy counsel.

Mr. Nigle will, among other things:

     a. provide analysis of the Debtor's financial situation, and
        render advice and assistance to the Debtor in determining
        whether to file for Chapter 11 protection;

     b. prepare and file any petition, schedule, statement of
        affairs, and other documents required by the Court;

     c. represent the Debtor at the meeting of creditors,
        confirmation hearing and any adjourned hearings thereof;
        and

     d. represent the Debtor in adversary proceedings and other
        contested bankruptcy matters.

Mr. Nigle will be paid $250 per hour for his services.

Mr. Nigle assures the Court that he is "disinterested" as that
term is defined in Section 101(14) of the Bankruptcy Code.

Sanford, North Carolina-based Hambone Dog Properties, LLC, filed
for Chapter 11 bankruptcy protection on July 6, 2010 (Bankr.
E.D.N.C. Case No. 10-05375).  The Company estimated its assets and
debts at $10,000,001 to $50,000,000.


HARRY MACKLOWE: Boston Properties to Acquire 510 Madison Avenue
---------------------------------------------------------------
Boston Properties, Inc. has entered into a purchase and sale
agreement with an affiliate of Harry Macklowe to acquire fee title
to 510 Madison Avenue in New York City.  Under the agreement, at
closing the Company will acquire the property by paying a purchase
price equal to the aggregate principal and accrued interest on the
property's existing senior mortgage loan and senior mezzanine loan
totaling approximately $280.5 million.  Previously, on August 10,
2010, the Company had acquired for cash from a third party the
junior mezzanine loan that was secured by a pledge of a
subordinate ownership interest in the property for a purchase
price of approximately $22.5 million.  Upon closing, the Company
will be the sole owner of the property.

510 Madison Avenue is a newly-constructed, vacant 350,000 square
foot Class A office tower located in the highly desirable Plaza
District of midtown Manhattan.  The building was conceived and
developed by Harry Macklowe of Macklowe Properties and designed by
Harry Macklowe, SLCE Architects and Moed de Armas & Shannon
Architects.  Following the closing, Harry Macklowe will serve as a
Project Consultant and Advisor and as Co-Chairman of the Marketing
and Leasing Advisory Committee for the property, and he may be
entitled to additional payments depending on the performance of
the property.  CB Richard Ellis, Inc., through Paul Amrich, will
be maintained as the rental agent for the property.

Concurrently with the execution of the purchase and sale
agreement, the Company delivered a $5.0 million deposit, which at
closing will be applied to the purchase price.  The Company will
also be responsible for all transfer taxes incurred in connection
with this transaction, as well as the Company's other acquisition
costs, which are estimated to be an aggregate of between $12 and
$15 million.  The closing is scheduled to occur on September 1,
2010 and is subject to customary closing conditions.  There can be
no assurance that the acquisition will be completed on the terms
currently contemplated, or at all.

Commenting on the transaction, the Company's Chairman and Chief
Executive Officer, Mortimer B. Zuckerman, said "We are once again
pleased to work with Harry Macklowe to acquire an office building
with outstanding design in a premier location.  Our previous
relationship with Harry, which began with the acquisition of the
General Motors Building and other assets in 2008, has fostered a
productive relationship that helped us successfully acquire 510
Madison Avenue. 510 Madison Avenue is the only new office
development in the Plaza District and, given its modern design and
amenities, it is well positioned to attract the highest-quality
tenants."

Mr. Macklowe, Chairman of Macklowe Properties, added "I am pleased
to continue the business relationship and friendship which Mort
Zuckerman and I have enjoyed together for many years, and I look
forward to working with Boston Properties to complete 510 Madison
Avenue and make the building a tremendous success."

                     About Boston Properties

Boston Properties is a fully integrated, self-administered and
self-managed real estate investment trust that develops,
redevelops, acquires, manages, operates and owns a diverse
portfolio of Class A office space, one hotel, two residential
properties and three retail properties.  The Company is one of the
largest owners and developers of Class A office properties in the
United States, concentrated in five markets -- Boston, Midtown
Manhattan, Washington, DC, San Francisco and Princeton, NJ.


HAWAII BIOTECH: Assets Sold to Merck Unit for $3.1 Million
----------------------------------------------------------
Bill Rochelle, columnist at Bloomberg News, reports that Hawaii
Biotech Inc. was authorized early this month to sell its assets
for $3.1 million to a Merck & Co. Inc. unit.  Before an auction
in July, the company planned on selling the business for
$1.44 million to be paid by a credit against pre-bankruptcy
secured debt.

Hawaii Biotech Inc. -- http://www.hibiotech.com/-- researches and
develops vaccines for infectious diseases.  The Company filed for
Chapter 11 protection on Dec. 11, 2009 (Bankr. D. Hawaii Case No.
09-02908).  Jerrold K. Guben, Esq., at O'Connor Playdon & Guben,
represents the Debtor in its restructuring effort.  The Debtor
estimated assets and debts of $1 million to $10 million in its
Chapter 11 petition.


HOTELS UNION: Confirmation Hearing on Friday; LNR Balks at Plan
---------------------------------------------------------------
The U.S. Bankruptcy Court in Wilmington, Del., will consider
confirmation of the bankruptcy plan filed in the Chapter 11
proceedings of Hotels Union Square Mezz 1 LLC and affiliate Hotels
Union Square Mezz 2 LLC at a hearing Friday.

Jacqueline Palank at Dow Jones Daily Bankruptcy Review reports
that LNR Partners Inc. -- the special servicer of the W New York-
Union Square's $115 million mortgage -- is urging the bankruptcy
judge in Wilmington, Del., to block the plan, which purports to
transfer ownership of the high-end hotel to Host Hotels & Resorts
Inc.

According to Dow Jones, LNR Partners told the Court on Monday the
mortgage debt holders it represents haven't consented to the plan
because it would "clearly negatively impact the senior mortgage
loan and run afoul of the senior mortgage loan documents."  Among
the mortgage holders' concerns are certain liability releases
granted under the plan and a proposed lease change.

Hotels Union Square Mezz 1 and Hotels Union Square Mezz 2
indirectly own the W New York-Union Square and are on the hook for
two slices of debt tied to the hotel.

According to Dow Jones, under the Plan:

     -- Host, a publicly traded real-estate investment trust that
        owns numerous high-end hotels, would acquire the Mezz 1
        unit's stake in the company that directly owns the hotel;

     -- The sale proceeds, the amount of which haven't been
        disclosed, would then be used to satisfy the $61 million
        claim of DekaBank Deutsche Girozentrale, the Mezz 1 unit's
        sole secured creditor; and

     -- The Mezz 2 unit's sole secured creditor, Dubai World
        private-investment arm Istithmar World Capital, would
        receive the right to become a minority stakeholder in the
        hotel and will no longer face accusations that it isn't
        the rightful holder of its $37 million claim.

     -- Pending litigation involving the companies and their
        secured creditors and provides various liability releases.

The report also notes the mortgage holders, led by trustee Wells
Fargo & Co., aren't slated to receive anything under the plan
because the company of which they are creditors -- the hotel's
direct owner-isn't under bankruptcy protection.  The report says
the mortgage holders' claims rank at the top of the heap of the
complex capital structure set up to finance Istithmar's $285
million acquisition of the hotel in October 2006.  In addition to
the $115 million mortgage, there were three levels of junior
mezzanine debt.

The report notes Istithmar lost control of the hotel at a
foreclosure auction last December, at which an affiliate of
Lubert-Adler Real Estate Funds won the bidding.

                        About Hotels Union

Philadelphia, Pennsylvania-based Hotels Union owns the W New York
Union Square hotel, located on Park Avenue South.  Hotels Union is
controlled by an affiliate of Lubert-Adler Real Estate Funds known
as LEM.

Hotels Union Square Mezz 1 LLC, dba Istithmar Hotels Union Square
Mezz 1 LLC, filed for Chapter 11 bankruptcy protection on
March 23, 2010 (Bankr. D. Del. Case No. 10-10971).  The company
estimated its assets and debts at $50,000,001 to $100,000,000.

Hotels Union Square Mezz 2 LLC, dba Istithmar Hotels Union Square
Mezz 2 LLC, filed for Chapter 11 bankruptcy protection on
March 25, 2010 (Bankr. D. Del. Case No. 10-11001).  The company
estimated its assets and debts at $10,000,001 to $50,000,000.

Steven M. Yoder, Esq., at Potter Anderson & Corroon LLP, assists
the Debtors in their restructuring effort.


HUDSON'S FURNITURE: Court Amends Final OK on Cash Collateral Use
----------------------------------------------------------------
The Hon. Karen S. Jennemann of the U.S. Bankruptcy Court for the
Middle District of Florida has approved an amendment on the final
order allowing Hudson's Furniture Showroom, Inc., to use the cash
collateral.

As reported by the TCR on July 27, 2010, Judge Jennemann granted
final approval on the Debtors' use of the cash collateral of
Furniture Brands International, Inc., and LA-Z-BOY, Incorporated
and its subsidiaries.

The amended final now states that Furniture Brands has a valid and
perfected first priority lien and security interest in the amount
of at least $1,585,753, and that the Debtor waives and releases
all claims against Furniture Brands.  The waiver does not impact
the ability to object to FBI's unsecured claim or to contest any
secured claim in excess of $1,585,753.

                      About Hudson's Furniture

Sanford, Florida-based Hudson's Furniture Showroom, Inc., owns and
operates several retail furniture stores in Florida, including
stores in the cities of Sarasota, Lakeland, Pinellas Park, Tampa,
Brandon, Melbourne, Ormond Beach, Altamonte Springs, Ocoee,
Orlando and Clearwater, Florida.

The Company filed for Chapter 11 bankruptcy protection on March 3,
2010 (Bankr. M.D. Fla. Case No. 10-03322).  Justin M. Luna, Esq.;
Mariane L. Dorris, Esq.; and Victoria I. Minks, Esq., at Latham
Shuker Eden & Beaudine LLP, assists the Company in its
restructuring effort.  The Company estimated assets and debts at
$10 million to $50 million in its Chapter 11 petition.

The Company's affiliates -- A&J Rentals, LLC; Hud Twenty-Five
Ocoee, LLC; Hud Twenty-Three Tampa, LLC; and Hud-Five, LLC --
filed separate Chapter 11 petitions on October 13, 2009.


INERGY LP: Moody's Upgrades Corporate Family Rating to 'Ba2'
------------------------------------------------------------
Moody's Investors Service upgraded Inergy, L.P.'s Corporate Family
Rating to Ba2 from Ba3, its Probability of Default Rating to Ba2
from Ba3, and raised its senior unsecured notes rating to Ba3 from
B1.  Moody's also affirmed the SGL-3 Speculative Grade Liquidity
Rating.  The rating outlook is stable.

                        Ratings Rationale

"The upgrade reflects substantial improvements in NRGY's operating
and financial performance leading to expectations for enhanced
business and seasonal diversification from growing natural gas
storage operations in the U.S. northeast, and increased fee-based
income from the midstream segment helping reduce cash flow
volatility," said Ken Austin, Moody's Vice President.  "The
upgrade also considers the announced merger of Inergy Holdings
L.P. -- the general partner -- into NRGY, which will eliminate
NRGY's incentive distribution rights owned by NRGP, create a
simplified corporate structure, and support its credit profile."

The company has been able to grow sales volume and maintain
margins at healthy levels through small-scale acquisitions and
cost cutting initiatives despite a general trend towards
conservation in the industry and lower propane prices.  NRGY has
also shown the willingness and ability to issue equity to support
liquidity and fund growth and acquisition capex as evidenced by
approximately $401 million of equity issuances since the beginning
of 2009.

The growth of the midstream sector has also enhanced Inergy's
overall profile.  The gross margin contribution from this business
(approximately 40% as of June 30, 2010), provides the company with
a steady cash flows stream primarily through its natural gas
storage segment.

The collapsing of the general partnership into NRGY through an
equity exchange transaction is a credit positive as it does not
erode liquidity or require funding from the debt or equity
markets, decreases NRGY's cost of capital by eliminating the IDRs
and the GP's economic interest, and simplifies reporting,
governance and improves transparency through a streamlined
corporate structure.  The merger is expected to close in the
fourth quarter of 2010, subject to GP voter approval and customary
conditions.

While Moody's recognizes these positive developments, NRGY's
leverage (debt/EBITDA of 4.14x at June 30, 2010) remains elevated
for the rating category and is still on the high end for the
rating.  Although this leverage is partially tempered by Inergy's
stable midstream business and is in-line with the other "pure-
play" midstream MLP peers, the upgrade assumes that leverage will
not increase from current levels and decline below 4.0x on a
sustainable basis.

NRGY's liquidity is expected to be adequate in 2010 and 2011 which
is captured in Moody's SGL-3 rating.  Internally generated cash
flow should cover maintenance capital expenditures, interest
payments, working capital requirements, and cash distributions to
unit holders over the next 12 to 15 months.

The outlook and ratings would be pressured in leverage rises from
current levels and remains above 4.0x for an extended period.
Conversely, a positive outlook or upgrade would be considered if
the company continues to improve its business profile and brings
leverage to well under 3.5x on a sustainable basis.

The last rating action on NRGY was on January 28, 2009, when
Moody's affirmed the company's Ba3 CFR and changed the outlook to
stable from positive.

Inergy, headquartered in Kansas City, MO, is a publicly traded
master limited partnership that owns and operates one of the
largest geographically diverse retail and wholesale propane
supply, marketing, and distribution businesses in the United
States.  NRGY also owns and operates a natural gas storage
facility located approximately 150 miles northwest of New York
City and a natural gas liquids business located near Bakersfield,
California.


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 Energy 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
(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.


INOVA TECHNOLOGY: Posts $7-Mil. Net Loss in Fiscal 2010
-------------------------------------------------------
Inova Technology Inc. filed its quarterly report on Form 10-K,
reporting a net loss of $7,063,039 on $21,032,779 of revenues for
year ended April 30, 2010, compared with a net loss of $3,409,795
on $22,591,048 revenues for the same period a year ago.

The Company's balance sheet at April 30, 2010, showed $12,460,556
in total assets, $19,218,938 in total liabilities, and a
$6,758,382 stockholders' deficit.

Malonebailey, LLP, in its August 13, 2010 report, noted that Inova
incurred losses from operations for fiscal 2010 and 2009 and has a
working capital deficit as of April 30, 2010.  "These factors
raise substantial doubt about Inova's ability to continue as a
going concern," the accounting firm said.

The Company has incurred losses of $7,063,039 and $3,409,795 for
the years ended April 30, 2010 and 2009, and has an accumulated
deficit of $13,171,088 and negative working capital of $15,378,190
as of April 30, 2010.

The Company added that its ability to continue as a going concern
is dependent upon its ability to generate sufficient cash flows to
meet its obligations on a timely basis, to obtain additional
financing as may be required, and ultimately to attain profitable
operations.

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

                      About Inova Technology

Based in Santa Monica, California, Inova Technology, Inc. (Other
OTC: IVTH) -- http://www.inovatechnology.com/-- develops and
sells radio frequency identification products and services.  Inova
is focused on developing solutions that prevent counterfeit of
luxury goods and pharmaceuticals.


INTERNATIONAL LEASE: Fitch Puts 'BB' Rating on $500MM Sr. Notes
---------------------------------------------------------------
Fitch rates International Lease Finance Corp.'s $500 million
issuance of senior unsecured notes 'BB' and $3.9 billion issuance
of secured notes 'BBB-'.  Both ratings are consistent with Fitch's
earlier statements provided in releases dated Aug. 9, 2010 and
Aug. 11, 2010.

ILFC's 'BB' Issuer Default Rating and Evolving Rating Outlook are
unaffected by the assignment of these ratings.

The unsecured notes will pay interest semi-annually on each
March 1 and Sept. 1 at a rate of 8.875% per year, beginning
March 1, 2011, and will mature on Sept. 1, 2017.  The notes are
not guaranteed by ILFC's parent, any of ILFC's subsidiaries or any
third party.

The senior secured notes consist of these:

  -- $1.35 billion aggregate principal amount of 6 1/2% senior
     secured notes due 2014 will pay interest, semi-annually, on
     each March 1 and Sept. 1, beginning March 1, 2011, at a rate
     of 6.5% per year;

  -- $1.275 billion aggregate principal amount of 6 3/4% senior
     secured notes due 2016 will pay interest, semi-annually, on
     each March 1 and Sept. 1, beginning March 1, 2011, at a rate
     of 6.75% per year; and

  -- $1.275 billion aggregate principal amount of 7 1/8% senior
     secured notes due 2018 will pay interest, semi-annually, on
     each March 1 and Sept. 1, beginning March 1, 2011, at a rate
     of 7.125% per year.

All of the notes are senior secured obligations of ILFC and will
be guaranteed on a senior secured basis by certain of ILFC's
wholly owned subsidiaries.  The notes and guarantees will be
secured on a first-priority basis by a portfolio of selected
aircraft and related leases and other property.

Proceeds from both transactions were used to repay outstanding
secured loans from AIG Funding in full and for general corporate
purposes.

Fitch has assigned these ratings:

International Lease Finance Corp.

  -- $500 million senior unsecured notes 'BB';
  -- $3.9 billion senior secured notes 'BBB-'.


ISOLA USA: Moody's Assigns Corporate Family Rating at 'B3'
----------------------------------------------------------
Moody's Investors Service assigned to Isola USA Corp. first-time
Corporate Family and Probability of Default Ratings of B3, with a
stable rating outlook.  Concurrently, Moody's assigned a B1 rating
to Isola USA's proposed $225 million senior secured first-lien
term loan due 2015.  The loan will benefit from full guarantees
from Isola USA's ultimate parent, Isola Group, S.a.r.l., and
various second, third and fourth-tier holding company parent
subsidiaries, as well as Isola USA's domestic operating
subsidiaries.

These first-time ratings/assessments were assigned:

* Corporate Family Rating -- B3

* Probability of Default Rating -- B3

* $225 million Senior Secured First-Lien Term Loan due 2015 -- B1
  (LGD-2, 25%)

The rating outlook is stable.

                        Ratings Rationale

Isola, a provider of high-performance laminates to the printed
circuit board industry, is owned by private equity sponsor TPG
Capital, and management.  Ratings were assigned in connection with
the recapitalization of Isola's balance sheet.  Proceeds from the
new $225 million senior secured term loan, a new 5½ year
$150 million 16% unrated subordinated unsecured loan (PIKs at a
rate of 8%/annum) plus balance sheet cash will be used to repay
existing first-lien (including a swap termination fee) and second-
lien term loans.

The B3 CFR reflects the company's small scale relative to larger
vertically-integrated competitors who are typically divisions of
multinational conglomerates with greater resources.  The rating
also considers Isola's high PCB customer concentration, dependence
on the volatile semiconductor industry and exposure to original
equipment manufacturers in the highly cyclical technology,
telecommunications and networking end markets.  The rating
incorporates Isola's historical revenue declines, operating losses
and negative free cash flow during the recession (FY08 and FY09),
offset by recent improvement in profitability and cash flow
generation.  Lastly, the rating recognizes the company's
moderately high pro forma financial leverage (5.8x adjusted total
debt/LTM EBITDA) and modest liquidity relative to its business
risk.

Partly mitigating these concerns, the B3 rating simultaneously
acknowledges Isola's leading global market positions across the
high performance and high Tg laminates markets.  With good
diversification across products, end markets and geographies, the
rating captures Isola's long-standing relationships and early
participation with leading electronics OEMs.  In Moody's opinion,
this has enabled the company to successfully align its R&D/product
roadmap and develop solutions that meet customers' more complex
product requirements.  The rating also takes into consideration
Isola's improving margin profile given the recent cost saving
measures, recovery in PCB demand and mix shift to high performance
products which carry richer margins.

The stable outlook recognizes Moody's expectation that Isola will
maintain steady customer relationships and sustain its leadership
positions across high performance laminates.  It also reflects
Moody's expectation that margins will continue to demonstrate
improvement relative to historical levels and Isola will generate
positive, though modest, FCF over the next 12 months.  Following
transaction closing, Moody's anticipate additional liquidity will
be derived principally from balance sheet cash of approximately
$40 million since Isola will not have a revolving credit facility,
which restrains its liquidity profile as well as the rating.

The ratings could experience upward pressure if the company were
to demonstrate sustainable improvement in operating performance as
a result of its reduced fixed cost structure and ongoing mix shift
to higher margin high performance laminate products, which should
be evidenced in consistently higher margins.  Ratings could also
migrate higher to the extent adjusted total debt to EBITDA
improved to 4.0x and the company demonstrated sustained positive
FCF generation.

Ratings could migrate lower if: revenues were to experience
significant downward pressure as a result of market share losses
or increased competition; margins eroded as a result of lower
volumes, pricing pressures or higher operating costs; leverage, as
measured by adjusted total debt to EBITDA, increased to 7.0x or
higher; the company's liquidity position were to weaken; or there
was a material change in the business profile.

Headquartered in Chandler, Arizona, Isola USA Corp. is a principal
operating subsidiary of Isola Group, S.a.r.l., a leading developer
and global supplier of high-performance laminates to printed
circuit board fabricators that, in turn, supply the major
technology original equipment manufacturers.  Isola's products are
sold into instruments/controls, medical, telecom/datacom,
military/aerospace and computing/networking end markets.  Revenues
(excluding discontinued operations) for the last twelve months
ended June 30, 2010, were $544 million.


ISOLA USA: S&P Assigns 'B' Corporate Credit Rating
--------------------------------------------------
Standard & Poor's Ratings Services said it assigned its
preliminary 'B' corporate credit rating to Chandler, Ariz.-based
printed circuit board laminate supplier Isola USA Corp.  At the
same time, S&P assigned S&P's preliminary 'B' issue-level rating
and a preliminary recovery rating of '3' to the proposed senior
secured facility, consisting of a $225 million first-lien term
loan.  The preliminary '3' recovery rating indicates a meaningful
(50%-70%) recovery of principal in the event of default.

"The preliminary ratings on Isola predominantly reflect its
moderate overall competitive position in the PCB laminate
industry, which itself makes up only a small percentage of the
overall semiconductor value chain, making it particularly
vulnerable to industry volatility," said Standard & Poor's credit
analyst Joseph Spence.  In addition, S&P assess the proposed
financial profile as "aggressive" since, despite its equity
characteristics, S&P treats the company's convertible preferred
equity certificates and accrued preferred interests of
approximately $177 million as debt.  As a result, pro forma June
2010 leverage approaches the 8x area on a trailing-12-month basis
and mid- to high-5x when annualized for the quarter.  Standard &
Poor's does, however, view Isola's recent growth trends as well as
improved cost structure and profitability as positive factors.


J.A.G. CARWASH: Case Summary & 2 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: J.A.G. Carwash Holdings, LLC
        3801 N. Dixie Highway
        Boca Raton, FL 33431

Bankruptcy Case No.: 10-34451

Chapter 11 Petition Date: August 18, 2010

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Paul G. Hyman Jr.

Debtor's Counsel: Julie E. Hough, Esq.
                  HOUGH ROBSON, PL
                  2450 Hollywood Blvd #706
                  Hollywood, Fl 33020
                  Tel: (954) 239-4760
                  E-mail: jhough@houghrobson.com

Scheduled Assets: $1,500,000

Scheduled Debts: $2,416,734

A list of the Company's two largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flsb10-34451.pdf

The petition was signed by Jason Graff, managing member of JMG
Realty LLC.


JAIME GONZALEZ: Wants to Hire Eason & Tambornini as Bankr. Counsel
------------------------------------------------------------------
Jaime Gonzalez and Gloria Gonzalez ask for authorization from the
Hon. Leslie Tchaikovsky of the U.S. Bankruptcy Court for the
Northern District of California to employ Eason & Tambornini as
bankruptcy counsel.

E&T will, among other things:

     a. take necessary action to protect and preserve the Debtors'
        estate, including the prosecution of actions on the
        Debtors' behalf, the defense of any actions commenced
        against the Debtors, the negotiation of disputes in which
        the Debtors are involved, and the preparation of
        objections to the claims filed against the Debtors'
        estate;

     b. assist the Debtors in obtaining approval of disclosure
        statement and confirmation of its Chapter 11 plan of
        reorganization;

     c. prepare applications, motions, answers, orders, reports
        and other legal papers; and

     d. appear in Court and protect the interests of the Debtors
        before the Court.

E&T will be paid based on the hourly rates of its personnel:

        Matthew R. Eason                         $300
        Kyle K. Tambornini                       $300
        Alice Harkrider, Paralegal               $100

Matthew R. Eason, a partner at E&T, assures the Court that the
firm is "disinterested" as that term is defined in Section 101(14)
of the Bankruptcy Code.

Clayton, California-based Jaime Gonzalez and Gloria Gonzalez filed
for Chapter 11 bankruptcy protection on July 2, 2010 (Bankr. N.D.
Calif. Case No. 10-47600).  The Debtors estimated their assets and
debts at $10 million to $50 million as of the Petition Date.


JAMES PINNELL: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Joint Debtors: James Hunter Pinnell
               Ashley Noelle Pinnell
                 fka Ashley Sloan-Banker
               680 Maple Creek Drive
               Fairview, TX 75069

Bankruptcy Case No.: 10-42774

Chapter 11 Petition Date: August 19, 2010

Court: United States Bankruptcy Court
       Eastern District of Texas (Sherman)

Debtor's Counsel: Christopher J. Moser
                  QUILLING, SELANDER, CUMMISKEY & LOWNDS
                  2001 Bryan Street, Suite 1800
                  Dallas, TX 75201-3005
                  Tel: (214) 871-2100
                  E-mail: cmoser@qsclpc.com

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

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

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txeb10-42774.pdf


JOHN COLBERT: Taps Paul Feldman to Sell Baker's Keyboard
--------------------------------------------------------
John Colbert, owner of Baker's Keyboard Lounge, has engaged real
estate broker Paul Feldman of Friedman Real Estate Group to sell
Baker's Keyboard for $450,000, according to reporting by John
Gallagher at Free Press Business Writer.

John H. Colbert filed for Chapter 11 on August 13, 2010 (Bankr.
E.D. Mich. Case No. 10-65635).  In its schedules attached to the
petition, Mr. Colbert disclosed assets of $377,501 and debts of
$458,024.  Kimberly Ross Clayson, Esq., at Schneider MIller, PC,
in Detroit, Michigan, serves as counsel to the Debtor.
A copy of the petition is available at:

           http://bankrupt.com/misc/mieb10-65635p.pdf


JOHN D. OIL: Posts $403,900 Net Loss in June 30 Quarter
-------------------------------------------------------
John D. Oil and Gas Company filed its quarterly report on Form 10-
Q, reporting a net loss of $403,875 on $679,517 of revenues for
the three months ended June 30, 2010, compared with net loss of
$524,409 on $943,691 of revenues for the same period a year ago.

The Company's balance sheet at June 30, 2010, showed $9,591,350 in
total assets, $7,374,018 in total liabilities, and a $2,217,332
stockholders' equity.

Maloney + Novotny LLP, in Cleveland, Ohio, submitted an audit
report for the year 2009 that had an explanatory paragraph that,
due to the Company's recurring losses and outstanding debt of
$10.6 million that was currently due and then in default, there is
substantial doubt about the Company's ability to continue as a
going concern.

In the Form 10-Q, the Company acknowledges that it has incurred
substantial losses, which have strained its financial resources,
and the Company's liabilities exceed its assets at June 30, 2010.
The Company's $9.5 million line of credit with RBS Citizens, N.A.
d/b/a Charter One was due August 1, 2009 and was in default.

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

                About John D. Oil and Gas Company

The Company entered into the business of extracting and producing
oil and natural gas products in Northeast Ohio in 2006.  The
Company currently also retains one self-storage facility located
in Painesville, Ohio.


JOSEPH HUSMAN: Case Summary & 6 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Joseph Michael Husman
        331 N. Arden Blvd.
        Los Angeles, CA 90004

Bankruptcy Case No.: 10-44799

Chapter 11 Petition Date: August 18, 2010

Court: United States Bankruptcy Court
       Central District Of California (Los Angeles)

Judge: Ernest M. Robles

Debtor's Counsel: Thomas B. Ure, Esq.
                  URE LAW FIRM
                  811 Wilshire Blvd., Suite 1000
                  Los Angeles, CA 90017
                  Tel: (213) 202-6070
                  Fax: (213) 202-6075
                  E-mail: tbuesq@aol.com

Scheduled Assets: $1,635,700

Scheduled Debts: $1,331,200

A list of the Debtor's six largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-44799.pdf


KENNETH ANDERSON: Case Summary & 19 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Kenneth Roderick Anderson
          dba Pah Tempe Hot Springs Resort
              Zion VRC Zip Tour LLC
          aka Ken R. Anderson
          dba The Roderick Family Trust
          aka Kenneth R. Anderson
          dba Kolob Mountain Ranch Resort
        825 North 800 East
        Hurricane, UT 84737

Bankruptcy Case No.: 10-41789

Chapter 11 Petition Date: August 18, 2010

Court: United States Bankruptcy Court
       District of Utah (Salt Lake City)

Judge: William T. Thurman

Debtor's Counsel: Helga A. White, Esq.
                  310 Bridgeview Drive
                  Auburn, CA 95603-3234
                  Tel: (530) 885-4433
                  Fax: (530) 236-8866
                  E-mail: helgawh@gotsky.com

Scheduled Assets: $36,297,305

Scheduled Debts: $5,979,063

The petition was signed by the Debtor.

Debtor's List of 19 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Farel Campbell Engineer                          $64,962
332 West 400 S
Hurricane, UT 84737

Steven Spackman                                  $37,000
3576 Pomegranet Way
St. George, UT 84790

Hannes Frischknecht                              $28,000
100 E. 480 South
La Verkin, UT 84745

Bank of America                                  $21,000

Russell Gallian                                  $15,826

Spec Industries Inc.                             $4,836

Road Runner Auto                                 $3,173

La Verking City                                  $2,874

Scholzens Products                               $2,848

Napa Auto Parts                                  $2,416

Kubota Credit Corporation                        $1,291

Vacation Resorts International                   $1,211

Steamroller Copies                               $896

Lins Market                                      $714

Ameri Gas                                        $576

The Spectrum News                                $433

Washington County                                $350
Water Conservancy Dist

Bucks Ace Hardware                               $326

Farmers Market                                   $213


KOPAC INTERNATIONAL: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Kopac International Corporation, Inc.
        P.O. Box 1882
        Montgomery, AL 36102

Bankruptcy Case No.: 10-32244

Chapter 11 Petition Date: August 20, 2010

Court: U.S. Bankruptcy Court
       Middle District of Alabama (Montgomery)

Judge: William R. Sawyer

Debtor's Counsel: James L. Day, Esq.
                  MEMORY & DAY
                  P.O. Box 4054
                  Montgomery, AL 36103-4054
                  Tel: (334) 834-8000
                  Fax: (334) 834-8001
                  E-mail: jlday@memorylegal.com

Scheduled Assets: $2,660,000

Scheduled Debts: 3,643,366

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/almb10-32244.pdf

The petition was signed by W. H. Griffin, president.


L&H TRUCKING: Planing to Sell Trucking Business
-----------------------------------------------
TradingMarkets.com reports that trucking company L & H Trucking
Company Inc., which is under Chapter 11 protection, is looking to
try and sell its business rather than reorganize for the long
haul, said counsel Lawrence Young, Esq., at Magee Goldstein Laksy
& Sayers, in Roanoke, Virginia.

L & H Trucking is still operating while looking for a buyer, Mr.
Young said, according to the report.

Hanover, Pennsylvania-based L & H Trucking Company, Inc., filed
for Chapter 11 on August 16, 2010 (Bankr. M.D. Pa. Case No. 10-
06657).  Lawrence V. Young, Esq., at CGA Law Firm, serves as
counsel to the Debtor.  The Debtor estimated assets of up to
$10 million and debts of $10 million to $50 million in its Chapter
11 petition.


LA TOYA JACKSON: Creditors' Trust Will Terminate on March 31
------------------------------------------------------------
WestLaw reports that the "liquidating purpose" of the creditors'
trust created in a Chapter 11 case, to liquidate otherwise
illiquid assets in the trust for distribution, would not be
furthered by an extension of the trust's term, as required for the
court to grant an extension pursuant to the underlying agreement,
so as to permit the trust to continue to hold the rights to
receive the royalties associated with the intellectual property
created by the debtor as an artist and performer.  The extension
of the trust in relation to the debtor's royalties, which
constituted a passive ongoing revenue stream related to the
exploitation of the intellectual property, would simply fulfill
the purpose of collecting more revenue for creditors beyond any
originally foreseeable period for holding those assets in the
trust, contrary to what was contemplated by the agreement and the
confirmed plan.  In re La Toya Jackson, --- B.R. ----, 2010 WL
3056974 (Bankr. S.D.N.Y.) (Peck, J.).

As reported in the Troubled Company Reporter on Aug. 13, 2010, the
Honorable James M. Peck rebuffed a request by the Trustee of the
La Toya Jackson Creditors' Trust, supported by Societe Bal du
Moulin Rouge, to reopen the high profile entertainer's chapter 11
case to extend the term of the trust beyond its presently
scheduled expiration on Mar. 31, 2011.  Ms. Jackson objected,
requesting that trust be terminated immediately and that court
order all trust assets to revert to her.

La Toya Jackson commenced her Chapter 11 case (Bankr. S.D.N.Y.
Case No. 95-43145) on July 19, 1995.  On August 31, 1998, the
Bankruptcy Court confirmed a Second Amended Plan of Reorganization
proposed, in large measure, by Moulin Rouge, and the Plan became
effective over eleven years ago on Apr. 1, 1999.  Pursuant to the
Plan, the Debtor, the Trustee, and Moulin Rouge, as the Debtor's
largest unsecured creditor, entered into a creditors' trust
agreement providing for the creation of the Trust upon the Plan's
effective date.  The Trust's assets included rights to a stream of
monthly royalty payments arising from the Debtor's intellectual
property as well as potential recoveries related to the Debtor's
claims against certain third parties.  The Trust was originally
scheduled to terminate on Apr. 1, 2006, and was then extended by
agreement by five years to Mar. 31, 2011.

Richard Levy, Jr., at Pryor Cashman, LLP, in New York City, serves
as the Trustee of the La Toya Jackson Creditors' Trust, and is
represented by Seth H. Lieberman, Esq., at his firm.

Ms. Jackson is represented by Gary F. Torrell, Esq., at Valensi
Rose, PLC, in Los Angeles, Calif.  "This was a very challenging
case, to convince a judge in New York that Ms. Jackson's creditors
should not obtain additional royalties, even though they had not
received any payment," Mr. Torrell said after reading Judge Peck's
decision.  "Luckily, the judge agreed with my arguments and issued
a well-reasoned opinion in favor of our valued client."

David C. Wrobel, Esq., at Wrobel & Schatz, LLP, in Manhattan,
represents Societe Bal du Moulin Rouge.


LEHMAN BROTHERS: SIPA Trustee Files Interim Investigation Report
----------------------------------------------------------------
James W. Giddens, the Trustee for the $110 billion liquidation of
Lehman Brothers Inc. (LBI) under the Securities Investor
Protection Act (SIPA), issued his Preliminary Investigation Report
on the failure of LBI and recommendations for protecting customers
in broker-dealer liquidations.

Mr. Giddens commented:  "The Securities Investor Protection Act
was designed to protect public customers in the event of a
brokerage firm collapse.  A disaster on the scale of Lehman
Brothers was never contemplated, but for the most part SIPA worked
well.  Under the most challenging circumstances, SIPA enabled the
nearly seamless transfer of 110,000 accounts with $92 billion in
assets to solvent broker-dealers? giving the vast majority of
Lehman's U.S. brokerage customers access to their property and
ability to trade at a critical time for the financial markets."

The report also says that because Lehman Brothers had not prepared
a pre-liquidation disaster plan, concrete provisions for the
mechanics of asset transfers were lacking and contributed to the
chaos of the Lehman bankruptcy.  To avoid a "second Lehman" and
protect customers in future SIPA liquidations, the Trustee's
report makes eight recommendations that could be implemented by
regulation, industry agreement or legislation.

The SIPA Trustee's Preliminary Investigation Report and
Recommendations were prepared by his counsel, Hughes Hubbard &
Reed LLP, and filed with the U.S. Bankruptcy Court for the
Southern District of New York.  Among the key findings:

Prior to the liquidation process, regulators and Lehman's internal
compliance function largely did their jobs in supervising LBI's
basic operations as a broker-dealer.
During normal operations, LBI was generally in compliance with
regulatory requirements and financial responsibility and customer
segregation rules.

For the most part, SIPA worked well.  At a time of great tumult in
the financial markets, the provisions of the SIPA statute enabled
the nearly seamless transfer of assets representing the vast
majority of customer accounts, from Lehman to other broker-
dealers.  Regrettably, not all LBI customers avoided loss or
disruption, and remaining claims are being administered under the
largest and most complex SIPA claims process in history.
Most LBI customer property was intact and accessible as envisaged
by the regulations, particularly in the United States.  Obtaining
property that was or should have been held in foreign depositaries
proved more challenging.

As detailed in the report, the Trustee has been disappointed in
the performance and attitudes of many entities that hold LBI
property or information.  The deeds show a pattern of delay,
incomplete information and creation of obstacles.  Parties have
seemed all too willing to take extreme positions in order to claim
a right under what was intended to be customer property or to
withhold property clearly belonging to the LBI estate.  This has
greatly hindered the Trustee's work, resulting in significant
added costs and frustrating SIPA's underlying goals.

"After any disaster there are practical lessons to learn," Giddens
added.  "The brokerage industry seems to have forgotten that its
success or failure still depends on the confidence of customers.
The sense that customers will be protected and dealt with fairly
ought not to be eroded through narrow self-interest."

The Trustee's preliminary report makes eight recommendations for
avoiding a "second Lehman":

Pre-liquidation disaster planning, including a "living will",
which would require each broker-dealer to have in place an up-to-
date liquidation plan that could be monitored by regulatory
authorities.

Robust pre-liquidation negotiations and provisions on the
mechanics of asset transfers, including access to assets,
information systems and people.

Balancing clearing banks' rights and broker-dealers' obligations
in order to prevent denial of access to information screens and
seizure of what should be segregated customer property.
Study of clearing agencies' emergency rules, operations and
consequences.

Reconsideration of unitary fund of customer property in favor of
funds for different types of accounts.

Increasing the Securities Industry Protection Corp.'s financial
resources, borrowing authority and flexibility.

Provisions for liquidation of collateral and return of excess or
marking to market to cure deficiencies.

Rational rules for unwinding outstanding non-customer financial
transactions.

SIPA requires the Trustee to investigate and report the financial
condition and business affairs of the debtor, in this case LBI.  A
final report will be released at the conclusion of the liquidation
proceedings.  The filing is a preliminary report and can be found
at http://www.lehmantrustee.com/

The information in this statement does not apply to any other
Lehman entity, including separate insolvency proceedings involving
Lehman Brothers Holding, Inc. (LBHI) and Lehman Brothers
International (Europe) (LBIE).

                        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)


LESLIE CONTROLS: Asbestos Claimants' Ballots Due by Sept. 27
------------------------------------------------------------
The U.S. Bankruptcy Court has set 5:00 p.m., prevailing Eastern
Time, on Sept. 27, 2010, as the deadline for all persons asserting
personal injury and wrongful death claims allegedly arising from
exposure to asbestos distributed by Leslie Controls, Inc., to cast
their ballots accepting or rejecting the Debtor's chapter 11 plan.

As reported in the Troubled Company Reporter, the Honorable
Christopher S. Sontchi approved the Debtor's disclosure statement
explaining its chapter 11 plan and overruling disclosure-related
objections interposed by Fireman's Fund Insurance Co. and Century
Indemnity.

Copies of the Debtor's Plan, Disclosure Statements and court-
approved solicitation material are available at:

              http://dm.epiq11.com/lesliecontrols/

                     About Leslie Controls

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

The Company sought Chapter 11 bankruptcy protection (Bankr.
D. Del. Case No. 10-12199) on July 12, 2010.  Marion M.
Quirk, Esq., and Norman L. Pernick, Esq., at Cole, Schotz,
Meisel, Forman & Leonard, assist the Company in its
restructuring effort.  The Company estimated its assets at
$10 million to $50 million and its debts at $50 million to
$100 million at that the time of the filing.


LIBBEY INC: BofA, Merrill Lynch Continue to Pare Stake
------------------------------------------------------
Bank of America Corporation, Bank of America, N.A., Merrill Lynch,
Pierce, Fenner & Smith, Inc., and Merrill Lynch PCG, Inc.,
disclosed that as of August 18 they held 575,485 shares or roughly
2.9% of the common stock of Libbey Inc.

On August 12, 2010, Libbey and MLPCG with Merrill Lynch Pierce, as
Representative of several underwriters,  entered into an agreement
whereby MLPCG agreed to sell to the Underwriters an aggregate of
3,036,877 shares of Libbey's common stock, par value $0.01 per
share.  On such date, MLPCG exercised Series I Warrants for the
purchase of 2,168,362 shares of Libbey common stock.  In addition,
MLPCG agreed to sell 724,581 shares of Common Stock issuable upon
exercise of the Series I Warrant, issued by Libbey to MLPCG on
October 28, 2009, to occur following the sale by MLPCG of the
Initial Shares of Common Stock and granted the Underwriters a 30-
day over-allotment option to purchase up to 573,913 additional
shares of Common Stock issuable upon exercise of the Series I
Warrant.  The Underwriters have exercised the over-allotment
option in full.

On August 18, 2010, following its sale of the Initial Shares,
MLPCG exercised Series I Warrants for the purchase of the
Additional Shares and the Option Shares and delivered such shares
to the underwriters pursuant to the Underwriting Agreement.

As a result, BAC now beneficially owns: 2.9% of Libbey's common
stock (based on 20,139,148 shares of Common Stock of Libbey
outstanding consisting of (i) 16,186,983 shares of Common Stock
outstanding as of July 27, 2010 (as reported by Libbey in its Form
10-Q for the period ending June 30, 2010), (ii) 485,309 shares of
Common Stock issuable upon exercise of a warrant Libbey issued to
MLPCG on June 16, 2006, and (iii) 3,466,856 shares of common stock
issued to MLPCG pursuant to the exercise of the Series I Warrants
sold pursuant to the Underwriting Agreement.  As the ultimate
parent holding company of both MLPCG and MLPFS, BAC may be deemed
to beneficially own the shares held by each such entity).

With respect to the beneficial ownership, the 575,485 shares of
Common Stock reported to be beneficially owned consist of (i)
485,309 shares of Common Stock issuable upon exercise of the 2006
Warrant, (ii) 565 shares of Common Stock of fiduciary holdings
owned by Bank of America as of August 18, 2010; (iii) 2,500 shares
of Common Stock of fiduciary holdings owned by MLPFS as of August
18, 2010 and (iv) 87,111 shares of Common Stock owned by MLPFS as
of August 18, 2010.  The holdings are calculated assuming an
issuance of Common Stock under the 2006 Warrant exercisable on
August 18, 2010.

                        About Libbey Inc.

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

Libbey Inc.'s balance sheet at June 30, 2010, showed
$794.1 million in total assets, $805.8 million total liabilities,
and a stockholder's deficit of $11.6 million.

                           *     *     *

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

On October 28, 2009, Libbey restructured a portion of its debt
by exchanging the old 16% Senior Subordinated Secured Payment-in-
Kind Notes due December 2011 of subsidiary Libbey Glass Inc.,
having an outstanding principal amount as of October 28, 2009, of
$160.9 million for (i) $80.4 million principal amount of new
Senior Subordinated Secured Payment-in-Kind Notes due 2021 of
Libbey Glass, and (ii) 933,145 shares of common stock and warrants
exercisable for 3,466,856 shares of common stock of Libbey Inc.

On February 8, 2010, Libbey used the proceeds of a $400.0 million
debt offering of 10.0% Senior Secured Notes due 2015 of Libbey
Glass Inc., as well as cash on hand, to (i) repurchase the
$306.0 million then outstanding Floating Rate Senior Secured Notes
due 2011 of Libbey Glass, (ii) repay the $80.4 million New PIK
Notes and (iii) pay related fees and expenses.  Concurrent with
the closing of the offering of the Senior Secured Notes, Libbey
entered into an amended and restated $110 million Asset Based Loan
facility which, among other terms, extended the maturity date to
2014.


LIONS GATE: June 30 Balance Sheet Upside Down by $1,580,000
-----------------------------------------------------------
Lions Gate Entertainment Corp. reported total assets of
$1,592,874,000 against total liabilities of $1,594,454,000,
resulting in total deficiency of $1,580,000 as of June 30, 2010.

Lions Gate posted a $64,068,000 net loss for the fiscal first
quarter ended June 30, 2010, from net income of $36,349,000 for
the same period a year ago.

Revenues were $326,584,000 for the fiscal first quarter from
$379,224,000 for last year's quarter.

A full-text copy of the Company's Form 10-Q report is available at
no charge at http://ResearchArchives.com/t/s?69e4

                      About Lions Gate

British Columbia-domiciled and Santa Monica, California-
headquartered Lions Gate is a leading, diversified independent
producer and distributor of motion pictures, home entertainment,
television programming and animation worldwide and holds a
majority interest in the pioneering CinemaNow VOD business.  The
Lions Gate brand name is synonymous with original, cutting edge,
quality entertainment in markets around the world.

As reported by the Troubled Company Reporter on March 10, 2010,
Standard & Poor's Ratings Services revised its rating outlook on
Lions Gate to negative from stable.  At the same time, S&P
affirmed ratings on Lions Gate, including the 'B-' corporate
credit rating.

Lions Gate carries Moody's "B2" corporate family rating and
probability of default rating.


MACC PRIVATE: Reports $603,100 Net Income in Q3 Ended June 30
-------------------------------------------------------------
MACC Private Equities Inc. filed its quarterly report on Form
10-Q, reporting a net increase in net assets from operations of
$603,131 for the third quarter ended June 30, 2010, compared with
a net decrease in net assets from operations of $1.2 million for
the third quarter ended June 30, 2009.

The increase in net asset value during the third quarter ended
June 30, 2010, was primarily the result of a net change in
unrealized appreciation/depreciation on investments of $826,589.

For the third quarter of fiscal 2010, total investment income was
$56,330, compared to total investment income of $152,445 for the
third quarter of fiscal 2009.  Total operating expenses for the
third quarter of fiscal 2010 were $279,788, compared to $252,557
for the third quarter of fiscal 2009.   Net investment expense for
the third quarter of fiscal 2010 was $223,458, compared to a net
investment expense of $100,112 in the third quarter of fiscal
2009.

MACC had no net realized gain or loss on investments for the third
quarter of fiscal 2010, compared with a net loss of $1.2 million
for the third quarter of fiscal 2009.  MACC reported a net change
in unrealized appreciation/depreciation on investments of $826,589
during the third quarter of fiscal 2010, compared to $165,280
during the third quarter of fiscal 2009.

                 Nine Months Fiscal 2010 Results

MACC has a negative net change in net assets from operations of
$503,387 for the nine months ended June 30, 2010, compared to a
negative net change in net assets from operations of $2.4 million
for the nine months ended June 30, 2009.

                          Balance Sheet

The Company's balance sheet as of June 30, 2010, showed
$12.0 million in total assets, $4.7 million in total liabilities,
and $7.3 million in total net assets.

                    Going Concern Uncertainty

As reported in the Troubled Company Reporter on January 11, 2010,
KPMG, LLP, in San Diego, Calif., expressed substantial doubt about
MACC Private Equities, Inc.'s ability to continue as a going
concern after auditing the Company's financial statements for the
year ended September 30, 2009.  The independent auditing firm
noted that the Company does not have sufficient cash on hand to
meet current obligations.

The Company discloses in its latest 10-Q that it continues to have
an ongoing need to raise cash from portfolio sales to fund its
operations and pay down outstanding debt.

"Our efforts to sell certain investments has taken longer than we
initially anticipated while performance of the underlying
portfolio companies in certain cases has deteriorated.  We believe
our ability to liquidate positions had been adversely affected by
credit conditions and the downturn in the financial markets and
the global economy.  Our Note Payable with Cedar Rapids Bank &
Trust Company with a balance of $4,414,721 as of June 30, 2010 is
due and payable January 10, 2011.  Under this agreement, the
Company is required to comply with certain financial covenants,
including maintaining a minimum liquidity of $500,000, which
commences upon the closing of the capital transaction discussed
below.  Given our current lack of liquid assets and funds to
satisfy the Note Payable, there is substantial doubt that we will
continue to operate as a going concern.  Our ability to raise
additional capital will depend on conditions in the capital
markets which are outside our control.  As a result, we cannot be
certain of our ability to raise additional capital and such
uncertainty raises substantial doubt about our ability to continue
to operate as a going concern."

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

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

Based in Encinitas, Calif., MACC Private Equities Inc. is a
business development company in the business of making investments
in small businesses in the United States.  MACC common stock is
traded on the Nasdaq Capital Market under the symbol "MACC."


MANJUSHREE MISRA: Case Summary & 6 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Manjushree Misra
        14659 N. 14th Drive
        Phoenix, AZ 85023-5194

Bankruptcy Case No.: 10-26368

Chapter 11 Petition Date: August 19, 2010

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: James M. Marlar

Debtor's Counsel: Jonathan B. Frutkin, Esq.
                  THE FRUTKIN LAW FIRM,PLC
                  101 North First Avenue, Suite 2410
                  Phoenix, AZ 85003
                  Tel: (480) 295-3470
                  Fax: (602) 926-8624
                  E-mail: jfrutkin@frutkinlaw.com

Estimated Assets: $0 to $50,000

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

A list of the Debtor's six largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/azb10-26368.pdf


MASH INTERNATIONAL: Case Summary & 2 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Mash International, Inc.
          dba Used Cars, U.S.A.
        P.O. Box 8111
        Fayetteville, AR 72703

Bankruptcy Case No.: 10-74371

Chapter 11 Petition Date: August 20, 2010

Court: U.S. Bankruptcy Court
       Western District of Arkansas (Fayetteville)

Debtor's Counsel: Donald A. Brady, Jr., Esq.
                  BLAIR & BRADY ATTORNEYS AT LAW
                  109 N. 34th Street
                  P.O. Box 1715
                  Rogers, AR 72756
                  Tel: (479) 631-0100
                  Fax: (479) 631-8052
                  E-mail: dblaw0887@hotmail.com

Estimated Assets: $1,935,117

Estimated Debts: $830,000

A list of the Company's two largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/arwb10-74371.pdf

The petition was signed by Hossein Kouchehbagh, president.


MASONITE INC: S&P Affirms 'BB-' Long-Term Corporate Credit Rating
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'BB-'
long-term corporate credit rating on Masonite Inc.  The outlook is
stable.

"The rating on Masonite reflects S&P's view of the company as one
of the world's largest door manufacturers, with historically
stable profitability and cash flow, and no debt," said Standard &
Poor's credit analyst Jatinder Mall.  "These strengths are
partially offset in S&P's opinion by the company's exposure to the
cyclical North American housing construction market, expectations
of weak profitability for the next couple of years, and customer
concentration," Mr. Mall added.

Masonite is one of the world's largest producers of both interior
and exterior doors, with a significant market share in its primary
North American market.  It has vertically integrated operations,
with approximately 55 facilities in 18 countries.  North America
accounts for about two-thirds of company sales, while Europe and
the rest of the world account for the balance.

The stable outlook reflects Standard & Poor's expectations that
Masonite will continue to generate positive cash flows even in the
current weak business environment and maintain sufficient
liquidity.  S&P could lower the rating if market conditions
significantly worsen or Masonite loses a major customer leading to
negative cash flow generation and a large cash burn.  S&P could
also lower the rating if the company makes a large acquisition or
gives out a special dividend payout that is greater than S&P's
expectations and results in a leverage ratio that is greater than
4x.  An upgrade at this time is unlikely and would require
meaningful improvement in the U.S. housing construction market
leading to improved profitability and for Masonite to demonstrate
that it can sustain a leverage ratio of below 3x in the long term.


MEDICAL STAFFING: Court Clears Lenders to Buy Assets
----------------------------------------------------
Dow Jones DBR Small Cap reports that a bankruptcy judge cleared
Medical Staffing Network Holdings Inc. to close the deal it sought
Chapter 11 protection to carry out: a sale of its health-care
staffing business to its senior lenders.

As reported by the Troubled Company Reporter on August 10, 2010,
DBR Small Cap had said the U.S. trustee Donald F. Walton balked at
the Debtor's request to exchange its assets for $84.1 million in
debt forgiveness from its first-lien lenders, saying the proposed
credit bid will leave all other creditors empty-handed and will
only benefit the purchaser.  Mr. Walton had argued the proposed
deal would leave no money left over for unsecured creditors or
other secured creditors in the case.  "The only parties who will
achieve any success in this proceeding will be the first-lien
lenders," Mr. Walton had said, according to Dow Jones.

The TCR on August 5, 2010, reported that the Hon. Erik P. Kimball
of the U.S. Bankruptcy Court for the Southern District of Florida
authorized Medical Staffing to sell substantially all of their
assets, and transferred equity interests, in an auction led by MSN
AcquisitionCo., LLC.

The auction was slated for August 19, 2010, at the offices of
Berger Singerman, P.A., in Fort Lauderdale.  The Court was slated
to consider the sale of the assets, and transferred equity
interests to MSN AcquisitionCo., or the winning bidder at a
hearing on August 20.

                      About Medical Staffing

Boca Raton, Florida-based Medical Staffing Network Holdings, Inc.,
provides temporary (predominantly healthcare) staffing services
including per diem, short term contracts and travel, in the United
States.  Warburg Pincus Private equity VIII, L.P., owns a 45.4%
stake in the Company.  The Company and its affiliates filed for
Chapter 11 bankruptcy protection on July 2, 2010 (Bankr. S.D. Fla.
Lead Case No. 10-29101).  Medical Staffing estimated $100 million
to $500 million in assets and debts.  In its schedules, an
affiliate of Medical Staffing listed total assets of $53,293,726
and total liabilities of $129,862,111.

The Debtors are represented by Paul Steven Singerman, Esq., and
Jordi Guso, Esq., at Berger Singerman, P.A., in Miami.  Akerman
Senterfitt is the Debtors' special corporate and transactional
counsel.  Loughlin Meghji + Company is the corporate restructuring
advisor.  Ernst & Young LLP is the accounting and tax advisor.
The Garden City Group Inc. is the claims and notice agent.


MEHDI AFSHAR: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: Mehdi Afshar
               Mahnaz Afshar
               17520 Elaine Ct.
               Monte Sereno, Ca 95030

Bankruptcy Case No.: 10-58594

Chapter 11 Petition Date: August 18, 2010

Court: United States Bankruptcy Court
       Northern District of California (San Jose)

Judge: Charles Novack

Debtor's Counsel: Anthony Delas, Esq.
                  FOOTHILL LAW GROUP
                  777 N 1st. St. #325
                  San Jose, CA 95112
                  Tel: (408) 293-0880
                  E-mail: tdelas@foothilllaw.com

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

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

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/canb10-58594.pdf


MESA AIR: Assumes Airport St. Louis Operating Agreement
-------------------------------------------------------
Debtor Mesa Airlines, Inc., and the City of St. Louis/Lambert-St.
Louis International Airport, the lessor, are parties to a certain
Airline Operating Agreement and Terminal Building Space Permit
No. AL-646, effective January 1, 2006, together with all addenda,
as supplemented and amended from time to time.

Absent consent from the Lessor, the deadline to assume or reject
the Airport Operating Agreement expires on August 3, 2010,
pursuant to the Court's April 13, 2010 Order for an Extension of
Time to Assume or Reject Unexpired Leases of Nonresidential Real
Property.

The Debtors sought to assume the Airport Operating Agreement in
their First Omnibus Motion to Assume or Extend the Time to Assume
or Reject Unexpired Leases of Nonresidential Real Property, dated
July 16, 2010.

Mesa Airlines hereby assumes the Airport Operating Agreement, and
the Agreement is deemed assumed as of August 3, 2010.

Mesa Airlines and the Lessor have agreed that (i) payment by the
Debtor to the Lessor of $7,939 will cure all defaults existing as
of August 3, 2010, under the Airport Operating Agreement pursuant
to Section 365(b)(1)(A), and (ii) the Debtor has provided
adequate assurance of future performance under the Agreement
pursuant to Section 365(b)(1)(C).

Mesa Airlines will pay in the ordinary course of business all
undisputed amounts arising under the Airport Operating Agreement
after the Assumption Effective Date of August 3, 2010.  The
Lessor's and Mesa Airlines' rights with respect to any claims
arising under the Agreement after August 3 are reserved.

For the avoidance of doubt, the Lessor's claims for payment of
landing fees for the period July 1, 2010, through August 31,
2010, as well as any claims arising from the Lessor's year-end
adjustment and audit, are reserved.  The Debtor's rights to
dispute any claims are also reserved.

Mesa Airlines' right, pursuant to Section 365(f) of the
Bankruptcy Code, to seek authority in the future to assign the
Airport Operating Agreement are reserved, as well as the Lessor's
right to object to that request.

                     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).


MEZABAY INTERNATIONAL: Raises Going Concern Doubt
-------------------------------------------------
Mezabay International Inc. filed its quarterly report on Form 10-
Q, reporting net income of $84,444 on $246,183 of total revenues
for the three months ended June 30, 2010, from a $711 net loss on
$7,080 of total revenue in the same period last year.

The Company's balance sheet at June 30, 2010, showed $1,092,376 in
assets, $617,353 of liabilities, and $475,023 of stockholders'
equity.

The Company disclosed that as of June 30, 2010, it has incurred a
working capital deficit of $289,521 and with the accumulated
deficits of $1,078,747.  The continuation of the Company is
dependent upon the financial support from shareholders and the
launch of its software products to the market.  Management
believes that these actions will enable the Company to continue
its operations through June 30, 2011.  "These and other factors
raise substantial doubt about the Company's ability to continue as
a going concern," the Company said in its Form 10-Q.

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

     http://ResearchArchives.com/t/s?69e6

Mezabay International Inc. was incorporated under the laws of the
State of Nevada in 1998 to engage in international business as
Asian Alliance Ventures Inc. and subsequently changed its name to
Asia Payment Systems Inc. in 2003 and to Cardtrend International
Inc. on July 24, 2007.  On June 18, 2009, the Company approved to
change its current name to Mezabay International Inc.

MZBY, through its subsidiary, engages in the provision of IT
consulting, programming and display advertising services in
Malaysia.


MICHAEL RIVERA: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Joint Debtors: Michael Rivera
               Norma Diaz
                 dba Norma Rivera
               9230 S. Eastern Avenue, SUITE 165
               Las Vegas, NV 89123

Bankruptcy Case No.: 10-25826

Chapter 11 Petition Date: August 20, 2010

Court: U.S. Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Bruce A. Markell

Debtors' Counsel: Charles T. Wright, Esq.
                  PIET & WRIGHT
                  3130 S. Rainbow Boulevard, Suite 304
                  Las Vegas, NV 89146
                  Tel: (702) 566-1212
                  Fax: (702) 566-4833
                  E-mail: pwlawecf@gmail.com

Estimated Assets: $0 to $50,000

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

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nvb10-25826.pdf


MICROGY HOLDINGS: Defends Ch. 7 Filing as Bank Seeks Dismissal
--------------------------------------------------------------
Dow Jones DBR Small Cap reports that Microgy Holdings Inc. is
defending its Chapter 7 filing after Wells Fargo Bank claimed the
move was an "obstructionist tactic" aimed at blocking a receiver
from sorting out the company's finances.  Microgy said in court
papers Monday that it didn't file the bankruptcy petition in "bad
faith" with the intent of replacing the receiver as he oversees
the operations of one of the company's natural gas plants.
However, the bankruptcy petition will lead to the appointment of a
trustee that will be able to sort out the company's finances,
collect any money that may be due and distribute the money to
creditors.  At issue is a request by Wells Fargo that the U.S.
Bankruptcy Court in White Plains, N.Y., dismiss the Chapter 7 case
of Microgy.  Wells Fargo is the trustee for $60 million in bonds
that Microgy used to finance the development of facilities in
Texas, including the largest renewable natural gas plant in North
America known as the Huckabay Ridge Facility.


MIDWEST BANC: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Midwest Banc Holdings, Inc.
        P.O. Box 1547
        Melrose Park, IL 60161-1547

Bankruptcy Case No.: 10-37319

Chapter 11 Petition Date: August 20, 2010

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

Judge: A. Benjamin Goldgar

Debtor's Counsel: William J. Connelly, Esq.
                  HINSHAW & CULBERTSON LLP
                  222 N. Lasalle Street, Suite 300
                  Chicago, IL 60601
                  Tel: (312) 704-3054
                  Fax: (312) 704-3002
                  E-mail: wconnelly@hinshawlaw.com

Scheduled Assets: $9,690,937

Scheduled Debts: $144,746,169

The petition was signed by Roberto R. Herencia, president.

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                      Nature of Claim   Claim Amount
        ------                      ---------------   ------------
M&I Marshall & Ilsley Bank          Money Loaned       $79,071,113
770 North Water Street
Milwaukee, WI 53202

MBHI Capital Trust V                Money Loaned       $21,259,929
c/o Wilmington Trust Company        (Subordinated Debt
in its capacity as trustee          Securities)
Rodney Square N.,
1100 N. Market Street
Wilmington, DE 19890-0001

Royal Capital Trust I               Money Loaned       $10,792,725
c/o Chase Manhattan Bank            (Subordinated Debt
USA, National Assoc. in its         Securities)
capacity as trustee
500 Stanton Christiana Road
FL3/OPS4
Newark, DE 19713

MBHI Capital Trust IV               Money Loaned       $10,729,361
c/o Wilmington Trust Company        (Subordinated Debt
in its capacity as trustee          Securities)
Rodney Square N.
1100 N.Market Street
Wilmington, DE 19890-0001

Northwest Suburban Capital Trust I  Money Loaned       $10,711,272
c/o Chase Manhattan Bank            (Subordinated Debt
USA Nat'l Assoc. in its             Securities)
capacity as trustee
600 Travis Street, 50th Floor
Houston, TX 77002

MBHI Capital Trust III              Money Loaned        $9,700,752
c/o Deutsche Bank Trust Co.
Delaware
in its capacity as trustee
1011 Centre Road, 2nd
Wilmington, DE 19805

Delaware Secretary of State         Quarterly             $110,160
                                    Installment of
                                    Annual Corporation
                                    Fees

Robert L. Woods                     Payments under         $94,379
                                    Split-dollar Life
                                    Insurance Policy

The Nasdaq Stock Market LLC         Securities Listing     $65,000
                                    Services

Bowne of Chicago, Inc.              Document Services      $29,536

Towers Watson Pennsylvania Inc      Investing              $13,333
                                    Information Services

Broadridge                          Securities              $8,329

Computershare, Inc.                 Software Services       $6,432

Georgeson Inc.                      Proxy Solicitation      $1,558
                                    Services

Illinois Stock Transfer Company     Stock Transfer            $814
                                    Administration/
                                    Services

Retirement Solutions Advisors       Financial Advisors        $750
                                    Services

Business Wire, Inc.                 Public Relations          $570
                                    Services

PrecisionIR, Inc.                   Investor Relations        $400
                                    Services

Mediant Communications LLC          Proxy Services            $103

CUSIP Service Bureau                IT Services               $100


NEC HOLDINGS: Wins Approval for Sale to Gores Affiliates
--------------------------------------------------------
Michael Bathon at Bloomberg News reports that National Envelope
Corp. won permission from Bankruptcy Judge Peter J. Walsh to sell
the business to affiliates of private-equity firm Gores Group LLC
under a contract valued at $208 million, including cash of $149.9
million.  Part of the remainder of the price is $37.7 million in
second-lien debt going to lenders on Term Loan B.  Gores
guarantees the debt.

According to the report, Gores was originally under contract for
$134.5 million.  The price rose at a 15-hour auction August 20.
Competitor Cenveo Inc. and private-equity firm Sun Capital
Partners were bidders at the auction.

                       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 assets and debts of $100 million to
$500 million in its Chapter 11 petition.


NETWURKS INC: CEO's Statement Didn't Create Administrative Claim
----------------------------------------------------------------
WestLaw reports that a statement made by a Chapter 11 debtor's
chief executive officer to a wholesale provider of wireless
Internet services, indicating his belief that the provider could
not shut off services to the debtor's customers because the debtor
was in bankruptcy, was not an inducement to provide postpetition
services satisfying the prong of the test for determining whether
a debt would be afforded administrative priority that required a
debt to arise from a transaction with the debtor-in-possession.
The statement did not exhibit a knowing acceptance of or desire
for the benefit being obtained, particularly since the CEO had
told the provider's principals that it would not pay for continued
services.  Moreover, the CEO, a non-lawyer, was giving a hesitant
opinion on the state of the law, rather than expressing a desire
to continue the parties' relationship, and the provider was
motivated to continue services due to a hope of acquiring the
debtor's customers.  Bertram Communications LLC v. Netwurx, Inc.,
--- B.R. ----, 2010 WL 3022214 (E.D. Wis.) (Stadtmueller, J.).

This ruling affirms a Feb. 27, 2009, decision by the Honorable
Susan V. Kelley in the Bankruptcy Court.  In a footnote, the
Honorable J.P. Stadtmueller says that "it borders on the absurd
that Bertram could reasonably rely or be induced by the assertion
of a non-lawyer regarding the law."

Netwurx, Inc., an Internet service provider based in Hartford,
Wisc., sought chapter 11 protection (Bankr. E.D. Wisc. Case No.
08-26131) on June 5, 2008, represented by Guy K. Fish, Esq. --
gfish@charterinternet.com -- in Milton, Wisc.  The Debtor quickly
filed a chapter 11 plan to compromise and settle debts estimated
at less than $10 million at the time of the filing.


OLD COLONIES: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Old Colonies Investment, LLC
        29400 Kohoutek Way
        Union City, CA 94587

Bankruptcy Case No.: 10-49531

Chapter 11 Petition Date: August 20, 2010

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

Judge: Edward D. Jellen

Debtor's Counsel: Sandra F. Banks, Esq.
                  LAW OFFICES OF SANDRA F. BANKS
                  3941 Lincoln Avenue
                  Oakland, CA 94602
                  Tel: (510) 336-2369
                  E-mail: sandrabankslaw@yahoo.com

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

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

The list of unsecured creditors filed together with its petition
does not contain any entry.

The petition was signed by Yashna Asnani, managing partner.


ORIENTAL TRADING: Files for Ch. 11 with Pre-Arranged Plan
---------------------------------------------------------
Oriental Trading Company, Inc. has reached agreement on the terms
of a pre-arranged plan of reorganization with a substantial
majority in principal amount of the Company's first lien lenders
in order to significantly reduce debt and improve its capital
structure and operating flexibility.  The Company and certain of
its affiliates initiated implementation of the plan with the
filing of voluntary petitions for reorganization under Chapter 11
in the U.S. Bankruptcy Court for the District of Delaware.

The Company will operate its business without interruption during
the restructuring process, and looks forward to emerging from that
process with a significantly strengthened balance sheet and
reduced leverage. Under the plan, the Company will reduce its
funded debt by over 70% to $200 million.

In addition, the Company has obtained a Debtor-in-Possession
financing facility of $40 million from a group of its existing
lenders, which will provide sufficient funds to operate its
business during the restructuring process.

"We have been in active discussions with our lenders and have
reached an agreement that will bring our capital structure in line
with the current economic environment and the needs of the
business," said Sam Taylor, CEO of Oriental Trading Company.  "We
are pleased with the ongoing support we have received from our
lenders and believe this process will lead to a sustainable, long-
term financial foundation for the company.  Oriental Trading is a
profitable company with a strong underlying business model and
continues to generate double-digit operating margins."

The Company is committed to delivering exceptional customer
service and quality products. During the restructuring process the
Company will continue normal business operations with no adverse
impact to customers.

                 About Oriental Trading Company

Oriental Trading Company -- http://www.orientaltrading.com/-- is
the nation's largest direct merchant of value-priced party
supplies, arts and crafts, toys and novelties, and a leading
provider of school supplies and affordable home decor and
giftware.  Recognized as one of the Top 50 Catalog Companies and
one of the Top 10 Online Retailers for Customer Satisfaction,
Oriental Trading Company employs approximately 3,000 employees and
offers more than 30,000 products to individuals, teachers,
schools, churches, businesses and not-for-profit organizations.
From pink flamingos, party supplies and grass skirts to holiday
decorations, scrapbooking supplies, and crafts, Oriental Trading
Company makes the world more fun!


PATRICK HACKETT: Has Until Sept. 8 to Revise Disclosure Statement
-----------------------------------------------------------------
Brian Kelly, staff writer at Watertown Daily Times, reports that
Patrick Hackett Hardware has until Sept. 8, 2010, to file an
amended disclosure statement explaining a plan of reorganization
after creditors opposed the Company's disclosure statement.

A hearing is set for Sept. 22, 2010, to consider approval of the
adequacy of the information in the disclosure statement in
explaining the Chapter 11 plan.

According to the report, KeyBank, the U.S. Trustee and the
Official Committee of Unsecured Creditors submitted separate
objections, complaining that the Disclosure Statement is
inadequate and lacks information as to how the capital will be
raised and schedules of payments.

                      The Chapter 11 Plan

According to Watertown Daily Times, under the Plan, the Company
hopes to pay off its debts from revenues and income generated by
the continued operation of its business.  It also will use
$500,000 from its non-debtor parent, WiseBuys Inc., $200,000 from
Seaway Valley Capital Corp., of which WiseBuys is a subsidiary,
and $200,000 from the sale of property in Canton and Ogdensburg.

                      About Patrick Hackett

Patrick Hackett Hardware Company began in 1830 as a hardware store
in upstate New York.  Hacketts now operates full-service
department stores and a specialty store, selling a full line of
clothes, consumer electronics, cell phones, shoes, housewares,
hardware and others.

Patrick Hackett filed for Chapter 11 on November 10, 2009 (Bankr.
N.D. N.Y Case No. 09-63135).  The Debtor estimated less than
$10 million in total assets in its Chapter 11 petition.

Hackett's Stores, Inc., is the parent company of Patrick Hackett.
Hackett's Stores (Pink Sheets:HCKI) is a holding of Seaway Valley
Capital Corporation (Pink Sheets:SEVA).  Hackett's Stores is not
nor has ever been in bankruptcy or bankruptcy protection.


PETTERS WORLDWIDE: Petters to Plead Guild for Fraud & Conspiracy
----------------------------------------------------------------
David Phelps at Star Tribune reports that Doug Kelley, the
receiver for Tom Petters, agreed with Polaroid trustee John
Stoebner and the government to enter criminal guilty plea for Tom
Petters' Petters Group Worldwide and Petters Co. Inc.

According to Star Tribune, the agreement is designed to speed up
collection of ill-gotten gains for faster distribution to victims
and investors, Mr. Phelps relates.  Mr. Petters' units were
charged with fraud and conspiracy.

The report relates that the agreement notes that investors and
creditors have substantially similar claims pending in both
bankruptcy and federal district court and that those lawsuits
require duplicative legal work that "strain already limited
resources" and pit the receivership, trustee and government
against each other while seeking the same assets, according to the
report.

                About Petters Group Worldwide LLC

Based in Minnetonka, Minnesota, Petters Group Worldwide LLC is
named for founder and chairman Tom Petters.  The group is a
collection of some 20 companies, most of which make and market
consumer products.  It also works with existing brands through
licensing agreements to further extend those brands into new
product lines and markets.  Holdings include Fingerhut (consumer
products via its catalog and Web site), SoniqCast (maker of
portable, WiFi MP3 devices), leading instant film and camera
company Polaroid (purchased for $426 million in 2005), Sun Country
Airlines (acquired in 2006), and Enable Holdings (online
marketplace and auction for consumers and manufacturers' overstock
inventory).  Petters formed the company in 1988.

Petters Company, Inc., is the financing and capital-raising unit
of Petters Group Worldwide, LLC.  Petters Company, Inc., Petters
Group Worldwide, LLC, and eight other affiliates filed separate
petitions for Chapter 11 protection (Bankr. D. Minn. Case No.
08-45257) on October 11, 2008.  James A. Lodoen, Esq., at
Lindquist & Vennum P.L.L.P., serves as the Debtors' counsel.
In its petition, Petters Company, Inc., estimated debts of between
$500 million and $1 billion, while its parent, Petters Group
Worldwide, LLC, estimated debts of not more than $50,000.

As reported in the Troubled Company Reporter on October 7, 2008,
Petters Aviation, LLC, and affiliates MN Airlines, LLC, doing
business as Sun Country Airlines, Inc., and MN Airline Holdings,
Inc., filed separate petitions for Chapter 11 bankruptcy
protection (Bankr. D. Minn. Case Nos. 08-45136, 08-35197 and
08-35198) on October 6, 2008 .  Petters Aviation, LLC is a
wholly owned unit of Thomas Petters Inc. and owner of
MN Airline Holdings, Inc., Sun Country's parent company.


PHYTOMEDICAL TECH: Posts $154,700 Net Loss in June 30 Quarter
-------------------------------------------------------------
PhytoMedical Technologies Inc. filed its quarterly report on Form
10-Q, reporting a net loss of $154,691 on zero revenues for the
three months ended June 30, 2010, compared with net loss of
$75,458 on zero revenues for the same period a year ago.

At June 30, 2010, the Company's consolidated balance sheet showed
$307,128 in total assets, $145,444 in total liabilities, and
$161,684 in total stockholders' equity.

The Company noted that it has not generated any revenues, has an
accumulated deficit of $23,838,950 as of June 30, 2010 and does
not have positive cash flows from operating activities.  In
addition, the Company has expended a significant amount of cash in
developing its technology and expects to incur additional losses
as it continues to develop its technologies.  Management
recognizes that in order to meet the Company's capital
requirements, and continue to operate, additional financing will
be necessary.

"If the Company is unable to raise additional capital or generate
positive cash flow, it is unlikely that the Company will be able
to continue as a going concern," according to the Form 10-Q.

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

                http://ResearchArchives.com/t/s?69cd

                 About PhytoMedical Technologies

Headquartered in Princeton, New Jersey, PhytoMedical Technologies
Inc. (OTC BB: PYTO; FWB: ET6) -- http://www.PhytoMedical.com--
together with its wholly owned subsidiaries, is a pharmaceutical
company focused on research, development and commercialization of
pharmaceutical products.


POINT BLANK: Fighting Against Bids for Ch. 11 Trustee, Examiner
---------------------------------------------------------------
Dow Jones DBR Small Cap reports that Point Blank Solutions Inc.
and its secured lender are fighting back against:

     -- a request by the official committee of unsecured creditors
        for appointment of an examiner in the Debtor's Chapter 11
        case; and

     -- a separate request by the United States Trustee for
        appointment of an independent trustee to oversee the case.

Dow Jones reports that the committee and the U.S. Trustee are wary
of the Debtor's ties to Steel Partners II LP, the provider of both
Point Blank's pre-bankruptcy and post-bankruptcy financing.  The
groups also harbor concerns about the company's past, which
creditors describe as a "complex, turbulent and dark history."

According to Bloomberg News, the motion for an examiner, filed on
July 30, said there is a need to learn whether Steele Partners is
operating in good faith.  Steele is providing a $20 million loan
for the Chapter 11 case on terms requiring a sale or
reorganization plan by September.

Dow Jones also notes the Debtor's founder, former chief executive
and chairman, David H. Brooks, is on trial in New York on charges
of securities fraud, mail and wire fraud, insider trading and
obstruction of justice, with a jury currently deliberating in the
case.

                          About Point Blank

Headquartered in Pompano Beach, Florida, Point Blank Solutions,
Inc. -- http://www.pointblanksolutionsinc.com/-- designs and
produces body armor systems for the U.S. Military, Government and
law enforcement agencies, well as select international markets.
The Company is recognized as the largest producer of soft body
armor in the U.S.  The Company maintains facilities in Pompano
Beach, Florida and Jacksboro, Tennessee.

Point Blank Solutions filed for Chapter 11 on April 14, 2010
(Bankr. D. Del. Case No. 10-11255).  Laura Davis Jones, Esq., and
Timothy P. Cairns, Esq., at Pachulski Stang Ziehl & Jones LLP
serve as bankruptcy counsel to the Debtor.  Olshan Grundman Frome
Rosenweig & Wolosky LLP serves as corporate counsel.  T. Scott
Avila of CRG Partners Group LLC is the restructuring officer.

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Equity Security
Holders in the case.  The Equity Committee has tapped Morrison
Cohen LLP, and The Bayard, P.A., as counsel.


PROCONN, LLC: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: ProConn, LLC
        10077 South 134th Street
        Omaha, NE 68138

Bankruptcy Case No.: 10-82437

Chapter 11 Petition Date: August 20, 2010

Court: U.S. Bankruptcy Court
       District of Nebraska (Omaha Office)

Judge: Thomas L. Saladino

Debtor's Counsel: James J. Niemeier, Esq.
                  MCGRATH, NORTH, MULLIN & KRATZ, P.C.
                  First National Tower, Suite 3700
                  1601 Dodge Street
                  Omaha, NE 68102
                  Tel: (402) 341-3070
                  Fax: (402) 341-0216
                  E-mail: jniemeier@mnmk.com

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

Estimated Debts: $0 to $50,000

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/neb10-82437.pdf

The petition was signed by Stephen J. Price, president and CEO of
Professional Veterinary Products, Ltd.


PROFESSIONAL VETERINARY: Case Summary & Creditors List
------------------------------------------------------
Debtor: Professional Veterinary Products, Ltd.
        10077 South 134th Street
        Omaha, NE 68138

Bankruptcy Case No.: 10-82436

Chapter 11 Petition Date: August 20, 2010

Court: U.S. Bankruptcy Court
       District of Nebraska (Omaha Office)

Judge: Thomas L. Saladino

Debtor's Counsel: James J. Niemeier, Esq.
                  Michael T. Eversden, Esq.
                  Robert J. Bothe, Esq.
                  Robert P. Diederich, Esq.
                  MCGRATH, NORTH, MULLIN & KRATZ, P.C.
                  First National Tower, Suite 3700
                  1601 Dodge Street
                  Omaha, NE 68102
                  Tel: (402) 341-3070
                  Fax: (402) 341-0216
                  E-mail: jniemeier@mnmk.com
                          meversden@mcgrathnorth.com
                          rbothe@mnmk.com
                          rdiederich@mcgrathnorth.com

Estimated Assets: $50,000,001 to $100,000,000

Estimated Debts: $50,000,001 to $100,000,000

The petition was signed by Stephen J. Price, president and chief
executive officer.

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Pfizer                             Trade                $9,210,189
P.O. Box 747029
Pittsburgh, PA 15274-7029

Lionel Reilly                      SERP                 $3,276,536
20620 Corral Road
Elkhorn, NE 68022

Boehringer Ingelheim Vetmedica     Trade                $2,179,703
P.O. Box 5849
Carol Stream, IL 60197-5849

Intervet Inc/Schering Plough       Trade                $1,840,646
P.O. Box 198428
Atlanta, GA 30384-8428

Idexx Distribution Corporation     Trade                $1,444,037
P.O. Box 101327
Atlanta, GA 30392-1327

Novartis Animal Health US Inc      Trade                  $964,932
P.O. Box 402925
Atlanta, GA 30384-2925

Merial Limited                     Trade                  $751,473
P.O. Box 409546
Atlanta, GA 30384-9546

Agri Laboratories Ltd              Inventory              $567,802
P.O. Box 802278
Kansas City, MO 64180-2278

Kendall/Covidien                   Trade                  $426,490
Department 00 10318
Palatine, IL 60055-0318

Virbac Corp                        Trade                  $376,493
P.O. Box 731119
Dallas, TX 75373-1119

Jorgensen Laboratories Inc         Trade                  $271,779
1450 N. Van Buren Avenue
Loveland, CO 80538

Nutra-Blend LLC                    Trade                  $249,538

Top Rx Inc                         Trade                  $217,396

Neogen Corporation                 Trade                  $211,891

Bimeda Animal Health Inc           Inventory              $203,648

Norbrook Labs                      Trade                  $179,924

Ceva Animal Health Inc             Inventory              $179,760

Bayer Corporation                  Trade                  $176,575

Central Life Sciences/Vet Product  Inventory              $165,879
Labs

West-Ward Pharmaceutical Corp      Trade                  $165,779


PROFESSIONAL VETERINARY: Pursuing Sec. 363 Sale of All Assets
-------------------------------------------------------------
Professional Veterinary Products Ltd. said it will continue to
operate its business as a "debtor-in-possession" under the
jurisdiction of the Bankruptcy Court and in accordance with the
applicable provisions of the Bankruptcy Code and orders of the
Bankruptcy Court.

Before the 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.

Potential bidders may contact Alex Smith or James Cullen of
Alliance Management at (952) 475-2236.  All other inquiries should
be directed to Cindy Christensen at (402) 829-5203.

On Aug. 9, 2010, the Company notified under the federal Worker
Adjustment and Retraining Notification Act all employees of the
Company that each of their employment with the Company is expected
to terminate on Oct. 11, 2010 or a date within 14 days thereafter.

The Company said it is unable to make a good faith estimate of the
amount or range of amounts expected to be incurred in connection
with the termination of employees, either with respect to each
major type of cost or with respect to the total amount, or an
estimate of the amount or range of amounts that will result in
future cash expenditures.

The Company reported $89.79 million in total assets, $78.23
million in total liabilities, and a $11.56 million stockholders'
equity for the quarterly period ended June 30, 2010.

                   About Professional Veterinary

Professional Veterinary Products Ltd. -- http://.pvpl.com/--
operates a veterinary supply company owned and managed by
veterinarians.  Includes company information, products, and an
online tour.

Professional Veterinary 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.

Affiliates ProConn and Exact Logistics also filed for Chapter 11.

The Company has hired McGrath North Mullin & Kratz PC LLO, as
bankruptcy counsel and Alliance Management as financial and
restructuring advisors.


PROJECT PLAYLIST: Universal Disputes Bid to Use Cash Collateral
---------------------------------------------------------------
Jacqueline Palank at Dow Jones Daily Bankruptcy Review reports
that UMG Recordings Inc. is urging the U.S. Bankruptcy Court in
Los Angeles to deny Project Playlist Inc.'s request to use cash
that serves as collateral for its sole secured creditor.

According to Dow Jones, Universal Music Group said in court papers
on Monday that, as the Debtor's largest creditor and secured
creditor, and the owner of countless copyrights which are being
infringed even now, it cannot in good conscience consent to use of
cash collateral for the conduct of a business based upon the
illegal use of copyrighted material owned by UMG and other
entities.

The Bankruptcy Court was slated to consider the Debtor's request
on Wednesday.

Dow Jones relates that UMG in April 2008 sued Project Playlist in
federal court for its alleged "massive infringement" of UMG's
copyrights.  The two eventually settled, with Project Playlist
promising UMG $15.7 million, granting the label a blanket lien on
its assets and agreeing to operate its business going forward
under a licensing agreement with the label.  However, UMG said
Project Playlist "defaulted almost immediately" on the agreement,
causing the label to terminate the licensing agreement and win a
$16.5 million legal judgment against Project Playlist.  Now, UMG
is accusing Project Playlist of continuing to make its songs
available to users even after the licensing agreement's
termination.

According to Dow Jones, Project Playlist says it's not doing
anything wrong by continuing to operate the so-called low-quality
version of its service, in which the site acts as a search engine
to link users with songs posted elsewhere online. The company says
it must be allowed to tap the cash collateral so it can continue
operating and searching for new investors.  All of this will
eventually allow Project Playlist to pay UMG and the other record
labels it owes legal judgments to as well as to continue
negotiating new licensing agreements so it can offer a premium
service to users, the company said.

Project Playlist Inc. provides an online service that allows users
to create and share music playlists.  Project Playlist, doing
business as Playlist.com, filed for Chapter 11 on Aug. 6, 2010
(Bankr. C.D. Calif. Case No. 10-42927).  The Debtor estimated
assets of $1 million to $10 million and debts of $10 million to
$50 million in its Chapter 11 petition.


PULTEGROUP INC: Fitch Affirms 'BB+' Issuer Default Rating
---------------------------------------------------------
Fitch Ratings has affirmed PulteGroup, Inc.'s ratings:

PulteGroup, Inc.:

  -- Issuer Default Rating at 'BB+';
  -- Senior unsecured debt at 'BB+';
  -- Unsecured bank credit facility at 'BB+'.

Centex Corp.:

  -- IDR at 'BB+';
  -- Senior unsecured debt at 'BB+'.

The Rating Outlook has been revised to Stable from Negative.

Following the August 2009 closing of its merger with Centex,
Centex became a wholly owned subsidiary of Pulte.  Pulte assumed
Centex's unsecured notes, which now benefit from the guarantees of
Pulte's homebuilding operating subsidiaries.  Similarly, Pulte's
unsecured notes and revolving credit facility also have the
guarantees of Centex's homebuilding operating subsidiaries.

The rating affirmation for Pulte reflects the company's broad
geographic and product diversity, a long track record of adhering
to a disciplined financial strategy and somewhat more recently an
aggressive growth strategy.  The merger with Centex last year
further enhanced the company's broad geographic and product line
diversity.  Centex's significant presence in the entry level and
first move-up categories complements Pulte's strength in both the
move-up and active adult segments.  Pulte's Del Webb (active
adult) segment is perhaps the best recognized brand name in the
homebuilding business.

The Outlook revision to Stable from Negative reflects the
company's improved operating results and its very strong liquidity
position as well as the successful execution of its debt repayment
strategy following the merger with Centex in August 2009.  As
expected, the company completed the repurchase of $1.5 billion of
senior notes through a tender offer.  The company's debt
maturities are well-laddered, with roughly $525 million of debt
maturing through the end of fiscal year 2012.  Pulte ended the
June 2010 quarter with $2.75 billion of cash on the balance sheet
and $400 million of borrowing availability under its $750 million
unsecured revolving credit facility.

The rating and Outlook also consider the integration risk
associated with a sizeable acquisition.  Although Pulte has
successfully integrated large acquisitions in the past, there is
execution risk upon implementing a very sizeable combination at a
time when the operating environment remains difficult for all
industry participants.  However, this is less of a concern now as
the integration of Centex seems to be progressing well.
Homebuilding selling, general and administrative expenses (SG&A
expenses) as a percentage of homebuilding revenues fell 570 bps to
11.6% during the second quarter compared to 17.3% last year.  The
company had initially targeted $350 million of cost savings for
the combined company in calendar 2010.  Through the first half of
the year, Pulte has realized approximately $200 million in SG&A
savings.  The company also expects an additional $150 to
$200 million in annual savings on purchasing synergies.

At the end of June 2010, Pulte controlled a roughly 7.8-year
supply of land based on latest 12 months (LTM) deliveries.
Roughly 90.5% of the 149,631 lots controlled are owned and the
balance are options.  Total lots controlled include approximately
48,000 finished lots and an additional 21,000 lots currently in
the development pipeline.  So far, the company has been relatively
cautious in committing to incremental land purchases due to its
sizeable land position.  Through the first half of 2010, the
company has spent approximately $118 million on land purchases and
$274 million on land development expenditures.  Pulte expects to
spend about $1 billion on land and development spending this year.

As expected, the housing recovery has been irregular so far and to
date rather anemic.  Very recent new home and existing home sales
data suggest that the national housing tax credit pulled sales
forward into March and April.  This has left a vacuum of demand
(especially from entry-level buyers) in its absence.  Fitch is not
convinced that demand will collapse further, but rather
anticipates the current low level of activity may persist through
the summer and, perhaps, fall.  And the recovery over the next few
years is expected to be less robust than has been typical in the
past.  If the economy and consequently housing were to experience
a double dip downturn in the 2010/2011 period, Pulte has the
liquidity to sustain itself, primarily utilizing its current cash
position.

Future ratings and Outlooks will also be influenced by broad
housing market trends as well as company specific activity, such
as land and development spending, general inventory levels,
speculative inventory activity (including the impact of high
cancellation rates on such activity), gross and net new order
activity, debt levels and free cash flow trends and uses.


QIMONDA RICHMOND: Court Rejects Google's Conversion Argument
------------------------------------------------------------
WestLaw reports that the terms and conditions incorporated into a
customer's purchase orders for memory modules did not render
inapplicable the provision of California's version of the Uniform
Commercial Code indicating that title to goods reverted to a
seller if the buyer returned or refused to retain the goods for
any reason.  Thus, the customer relinquished title to the modules
when it returned them to the Chapter 11 debtor-manufacturer, and
the title reverted to the debtor.  Consequently, the debtor did
not convert the customer's modules when it resold them after
return, as the customer contended in asserting an administrative
expense claim.  Nothing in the terms and conditions specifically
stated that the title to any returned goods remained in the
customer notwithstanding the effect of the UCC provision, and some
of the remedies available to the customer under the terms and
conditions were directly inconsistent with the customer retaining
title to goods, such as debtor's entitlement to replace a returned
module with another similar module or keep it and refund the
customer's money.  In re Qimonda Richmond, LLC, --- B.R. ----,
2010 WL 3087451 (Bankr. D. Del.) (Walrath, J.).

In this dispute, Google, Inc., argued that its claim should be
accorded administrative expense priority because the Debtor
improperly converted and resold memory modules costing $1.2
million that Google had returned to the Debtor for repair
prepetition.  The Honorable Mary F. Walrath sided with the Debtor
and held that Google holds a general unsecured claim.

                       About Qimonda AG

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

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

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


QUANTUM CORPORATION: Eight Elected to Board of Directors
--------------------------------------------------------
Quantum Corporation said, at the Annual Meeting of Stockholders on
Aug. 18, 2010, proxies representing 196,389,668 shares of common
stock or approximately 90.90% of the total outstanding shares were
present.  Shareholders voted in favor of the election of these
individuals for the Board of Directors:

   * Paul R. Auvil III
   * Richard E. Belluzzo
   * Michael A. Brown
   * Thomas S. Buchsbaum
   * Edward M. Esber, Jr.
   * Elizabeth A. Fetter
   * Joseph A. Marengi
   * Dennis P. Wolf

Furthermore, the stockholders ratified the appointment of
PricewaterhouseCoopers LLP as the independent registered public
accounting firm of the Company for the fiscal year ending
March 31, 2011.  The proposal received 196,022,944 votes for,
195,579 votes against, 171,145 abstentions, and no broker non-
votes.

                        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 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.


RAME PROPERTIES: Case Summary & 16 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Rame Properties, LLC
        4828 Ashford Dunwoody Road, Suite 400
        Dunwoody, GA 30338

Bankruptcy Case No.: 10-83988

Chapter 11 Petition Date: August 18, 2010

Court: United States Bankruptcy Court
       Northern District of Georgia (Atlanta)

Debtor's Counsel: A. Keith Logue, Esq.
                  LAW OFFICE OF A. KEITH LOGUE
                  3423 Weymouth Ct.
                  Marietta, GA 30062
                  Tel: (770) 321-5750
                  Fax: (770) 321-5751
                  E-mail: keith@logue-law.com

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

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

A list of the Company's 16 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ganb10-83988.pdf

The petition was signed by Moshe Manoah, manager.


RAYMOND WHYTE: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Joint Debtors: Raymond Lee Whyte
               Cynthia Marie Whyte
               10793 S. Bear Table Tank Dr.
               Vail, AZ 85641

Bankruptcy Case No.: 10-26381

Chapter 11 Petition Date: August 19, 2010

Court: United States Bankruptcy Court
       District of Arizona (Tucson)

Judge: Eileen W. Hollowell

Debtor's Counsel: Eric Slocum Sparks, Esq.
                  ERIC SLOCUM SPARKS PC
                  110 S Church Ave #2270
                  Tucson, AZ 85701
                  Tel: (520) 623-8330
                  Fax: (520) 623-9157
                  E-mail: eric@ericslocumsparkspc.com

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

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

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/azb10-26381.pdf


RADIO ONE: S&P Downgrades Corporate Credit Rating to 'SD'
---------------------------------------------------------
Standard & Poor's Rating Services said that it lowered its
corporate credit rating on Lanham, Md.-based radio broadcaster
Radio One Inc. to 'SD' (selective default) from CCC+' because of
its failure to make the Aug. 15, 2010, interest payment on its
6.375% subordinated notes due 2013.  Bank lenders blocked the
interest payment due to ongoing financial covenant violations in
its credit agreement.  Notwithstanding this covenant violation,
S&P believes the company has the financial capacity and liquidity
to meet its debt obligations.

At the same time, S&P lowered the issue-level rating on Radio
One's 6.375% subordinated notes to 'D' from 'CCC-', while keeping
the recovery rating on this debt unchanged at '6', indicating
S&P's expectation of negligible (0% to 10%) recovery in the event
of a payment default.

In addition, S&P revised the CreditWatch listing on the company's
existing $800 million senior secured credit facilities to negative
from developing, and kept the '3' recovery rating on this debt
unchanged, indicating S&P's expectation for meaningful (50% to
70%) recovery for lenders in the event of a payment default.  S&P
also revised its CreditWatch listing on Radio One's existing
8.875% senior subordinated notes due 2011 to negative from
developing.  The recovery rating on this debt remains unchanged at
'6', indicating S&P's expectation of negligible (0% to 10%)
recovery in the event of a payment default.

At the same time, S&P has withdrawn its preliminary 'BB-' issue-
level rating and recovery rating of '1' on Radio One's proposed
$400 million senior secured credit facility consisting of a
$50 million revolving credit facility due 2014 and a seven-year
$350 million term loan B.  The withdrawal of the preliminary
rating reflects significant uncertainty surrounding the timing and
potential for changes in terms of a refinancing transaction.

"The rating actions reflect Radio One's failure to make its Aug.
15 interest payment on its 6.375% senior subordinated notes,
heightened near-term refinancing risk following the company's
third extension of its exchange offer for its subordinated notes,
and ongoing covenant violations stemming from its existing credit
agreement," said Standard & Poor's credit analyst Michael Altberg.
Radio One received an extension of its forbearance agreement with
existing bank lenders to Sept. 10, 2010, with respect to events of
default under its total leverage covenant.  On Aug. 5, 2010, the
company's senior lenders blocked the Aug. 15 interest payment on
Radio One's 6.375% subordinated notes, based on the terms of the
amended forbearance agreement.  The company has a grace period of
30 days to cure the default according to terms under the
indenture.  Although a payment default has not occurred according
to the legal provision of the notes, Standard & Poor's considers
it a default when a payment is not made, even if a grace period
exists.  If the company is unable to amend its credit agreement to
provide covenant relief prior to the Sept. 10, 2010, expiration of
the forbearance agreement, and therefore unable to cure the cash
default by Sept. 15, 2010, on the 6.375% subordinated notes, the
company would cross-default on all outstanding debt.

Radio One is primarily a radio broadcaster targeting the African-
American audience, with a portfolio of about 53 radio stations in
16 of the top 50 African American markets.  Within its radio
segment, there is revenue concentration risk among four markets --
Houston, Texas; Washington, DC; Atlanta, Ga.; and Baltimore, Md. -
- which together account for 50.1% of radio revenue.  In addition
to a current 37% interest in TV One, the company has a 53.5%
ownership interest in REACH Media Inc., a programming syndication
business that is in a transition to a new ad sales representation
arrangement, which S&P believes will adversely affect near-term
profitability at the segment.  Interactive One is the company's
online unit, which is currently generating an EBITDA loss and
could take longer to reach breakeven than originally anticipated.


REUNION INDUSTRIES: C. Bradley and J. Poole Retire as Directors
---------------------------------------------------------------
Effective July 1, 2010, Charles E. Bradley,Sr. and John G. Poole
retired as directors of the Reunion Industries, Inc.

                     About Reunion Industries

Reunion Industries, Inc. filed for Chapter 11 protection on
November 26, 2007 (Bankr. D. Conn. Case No. 07-50727).  Two
Reunion Industries stockholders, Charles E. Bradley, Sr. Family
Limited Partnership, and John Grier Poole Family Limited
Partnership filed separate Chapter 11 petitions on the same day
(Bankr. D. Conn. Case Nos. 07-50725 and 07-50726).

As reported in the Troubled Company Reporter on June 15, 2010,
On May 20, 2010, the Bankruptcy Court entered a Final Decree
terminating the Company's Chapter 11 case.  However, the
Bankruptcy Court retained jurisdiction to adjudicate two remaining
disputed and unresolved claims that were filed against the Company
in the Chapter 11 Case.


RITE AID: Completes Refinancing of $1.175 Bil. Credit Facility
--------------------------------------------------------------
Rite Aid Corporation has successfully completed the refinancing
transactions that include a new $1.175 billion revolving credit
facility due 2015 and the issuance of $650 million aggregate
principal amount of 8.00% senior secured notes due 2020.  Rite Aid
has also amended its senior credit facility.

The new $1.175 billion revolving credit facility due 2015 replaces
Rite Aid's existing $1.175 billion revolving credit facility due
2012.  The new revolving credit facility has reduced pricing and a
five-year maturity, although the maturity shall be April 18, 2014
in the event that Rite Aid does not repay, refinance or otherwise
extend the remaining term loans under its senior credit facility
prior to that time and meets certain other conditions.  The
amendments to its senior credit facility loosen the fixed charge
coverage ratio test and permit the mandatory repurchase of Rite
Aid's existing 8.5% convertible notes due 2015, subject to the
satisfaction of certain conditions.

The proceeds of the offering of the 8.00% senior secured notes due
2020 were used, together with available cash, to repay and retire
Rite Aid's $648.0 million Tranche 4 Term Loan due 2015 under its
senior secured credit facility, and to fund related fees and
expenses.

                          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.

                           *     *     *

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 in August also said it assigned
its 'B+' issue rating and '1' recovery rating to Harrisburg, Pa.-
based Rite Aid Corp.'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.


ROCKWOOD INSURANCE: Creditors Have Until Sept. 24 to File Claims
----------------------------------------------------------------
The Commonwealth Court of Pennsylvania has ordered that creditors
of Rockwood Insurance Company have until Sept. 24, 2010, to file
proofs of claim against the liquidating insurance concern.  Claim
forms must be delivered to:

        Proof of Claim Department
        Statutory Liquidator for Rockwood Insurance Company
        Pennsylvania Insurance Department
        901 North 7th Street
        Harrisburg, PA 17102

Rockwood Insurance Company underwrote workers' compensation,
automobile, property, commercial multi-peril, medical malpractice,
inland marine and general liability insurance.  The insurer was
placed into liquidation on Aug. 26, 1991.  As of June 30, 2009,
the liquidator estimates $82.9 million are available to distribute
to satisfy $33.7 million of administrative claims, $326.9 million
of claims for policy benefits, and less than $500,000 of lower-
priority claims.


ROPER INDUSTRIES: Moody's Affirms 'Ba1' Senior Subordinate Rating
-----------------------------------------------------------------
Moody's Investors Service affirmed all ratings of Roper Industries
Inc. including its Baa3 senior unsecured and Ba1 senior
subordinate ratings, and changed the ratings outlook to positive
from stable.  The outlook change reflects the likelihood for near
term upward ratings movement should Roper sustain its key credit
metrics without interruption from recent and any future
acquisition activity.

Outlook Actions:

Issuer: Roper Industries, Inc.

  -- Outlook, Changed To Positive From Stable

Roper's Baa3 rating is supported by the company's portfolio of
diverse businesses that typically have leading market positions
and are focused on end-markets that have attractive growth
characteristics.  In addition, Roper's businesses collectively
have limited exposure to any one customer, product or end-market
and generate meaningful amounts of recurring revenues from
consumables and subscription-based services.  Despite some of its
business segments recording double digit declines in revenues and
orders during the recent downturn, Roper sustained its strong
margins and solid free cash flow while its key credit metrics have
remained at levels of strength for its rating.  Order trends have
improved meaningfully through H1/2010, which should support
earnings and cash flow growth into 2011 in Moody's opinion.
Moody's expects Roper will use its internally generated cash flow
to reduce higher leverage arising from the US$525 million cash
acquisition of iTradeNetwork, Inc. last month.  Roper's rating
remains constrained by the potential for its leverage to increase
due to debt-financed acquisitions as well as the company's
concentration of exposure within North America.

For an upgrade consideration, Moody's will need to gain confidence
in the company's ability to successfully integrate its recent
relatively large-sized acquisition while maintaining its key
credit metrics.  Specifically, sustained metrics associated with
upwards rating action would include debt-to-EBITDA towards 2.5x
and free cash flow/debt above 20%.  A downgrade is unlikely
currently, however it would occur should additional debt-financed
acquisitions result in sustained debt-to-EBITDA towards 3.0x,
EBITA/ Interest below 4.5x or free cash flow/ debt below 10%.

Moody's last rating action on Roper was on August 26, 2009, when
Moody's assigned a Baa3 rating to the company's senior unsecured
notes issue.

Roper Industries Inc., headquartered in Sarasota, Florida, is a
diversified company that designs, manufactures and distributes
engineered products, and provides software solutions and services
across several end markets globally.  Revenues for the last twelve
months ending June 30, 2010, were about $2.1 billion.


ROSALIND NELSON: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Joint Debtors: Rosalind Merrifield Nelson
               Barrie Theodore Nelson
               5260 Horizon Drive
               Malibu, CA 90265

Bankruptcy Case No.: 10-20215

Chapter 11 Petition Date: August 18, 2010

Court: United States Bankruptcy Court
       Central District of California (San Fernando Valley)

Debtor's Counsel: Gerald Wolfe, Esq.
                  LAW OFFICE OF GERALD WOLFE
                  19600 Fairchild Road, Suite 295
                  Irvine, CA 92656
                  Tel: (949) 257-0961
                  Fax: (949) 608-8930
                  E-mail: gerald@gwesq.com

Scheduled Assets: $1,670,450

Scheduled Debts: $3,792,421

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-20215.pdf


ROUGE STEEL: PBGC Wins Suit to End Pension Plans
-----------------------------------------------
Bankruptcy Law360 reports that the Pension Benefit Guaranty Corp.
has won a bid for summary judgment in its lawsuit seeking to
terminate four Rouge Steel Co. pension plans in the wake of the
steel producer's 2003 bankruptcy filing.

In an order issued Monday in the U.S. District Court for the
Eastern District of Michigan, Judge George Steeh sided with the
PBGC's request to set the pension plans' termination.


RUSSEL CLARK: Case Summary & 3 Largest Unsecured Creditors
----------------------------------------------------------
Joint Debtors: Russel Thad Clark
                 dba R.V. Clark, LLC
                     Central Motor Parts, Inc.
                     Central Aviation, Inc.
               Virginia Leigh Clark
               10585 S. Las Colinas Lane
               Yuma, AZ 85367

Bankruptcy Case No.: 10-26277

Chapter 11 Petition Date: August 19, 2010

Court: United States Bankruptcy Court
       District of Arizona (Yuma)

Judge: Eileen W. Hollowell

Debtor's Counsel: Robert M. Cook, Esq.
                  LAW OFFICES OF ROBERT M. COOK PLLC
                  219 W Second St.
                  Yuma, AZ 85364
                  Tel: (928) 782-7771
                  Fax: (928) 782-7778
                  E-mail: robertmcook@yahoo.com

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

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

A list of the Joint Debtors' three largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/azb10-26277.pdf


SAINT VINCENTS: Has Deals to Sell Three Properties
--------------------------------------------------
Crain's New York Business reports that Saint Vincent Catholic
Medical Centers has signed a contract to sell St. Vincent's
Hospital Westchester to Saint Joseph's Medical Center in Yonkers.
The 65-acre Westchester property is still operating as a
psychiatric facility.  Crain's reports that Saint Joseph's filed a
certificate of need for the sale earlier this month; it will need
state regulatory approvals and a blessing from the bankruptcy
court.

Crain's also reports that SVCMC is seeking to sell the Bishop
Francis J. Mugavero Center for Geriatric Care, and St. Jerome's
Health Services Corp., which does business as Holy Family Home.
The report says SVCMC has deals to sell the two Brooklyn nursing
homes to SV Operating I and SV Land I.  According to Crain's, both
companies signed asset purchase agreements with SVCMC to buy
operating and real estate assets.  An auction is set for Sept. 21.
If the companies are outbid, the breakup fee for Holy Name is 2%
of the purchase price, or $337,500.  For the Mugavero Center, the
breakup fee is $602,300.

Crain's also reports the bankruptcy court last week approved the
transfer of SVCMC's two home health programs to the Visiting Nurse
Service of New York and to North Shore University Hospital.
Earlier sales included those of the system's cancer center and its
hospice.

                            About SVCMC

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).


SCO GROUP: Wins Court OK to Sell Software Business
--------------------------------------------------
SCO Group Inc. has received court permission to sell off its
software business, following the company's loss in a copyright
suit against Novell Inc. over the rights to the Unix operating
system, Bankruptcy Law360 reports.

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware on Monday authorized the marketing, auction and sale of
substantially all of SCO's software business assets, according to
Law360.

                         About SCO Group

The SCO Group (SCOXQ.PK) -- http://www.sco.com/-- is a provider
of UNIX software technology.  Headquartered in Lindon, Utah, SCO
has a worldwide network of resellers and developers.

The Company and its affiliate, SCO Operations Inc., filed for
Chapter 11 protection on September 14, 2007 (Bankr. D. Del. Lead
Case No. 07-11337).  Paul Steven Singerman, Esq., and Arthur
Spector, Esq., at Berger Singerman P.A., represent the Debtors in
their restructuring efforts.  James O'Neill, Esq., and Laura Davis
Jones, Esq., at Pachulski Stang Ziehl & Jones LLP, are the
Debtors' Delaware and conflicts counsel.  Epiq Bankruptcy
Solutions LLC acts as the Debtors' claims and noticing agent.
The United States Trustee failed to form an Official Committee of
Unsecured Creditors in the Debtors' cases due to insufficient
response from creditors.

As of January 31, 2009, the Company had $8.78 million in total
Assets, $13.30 million in total liabilities, and $4.52 million in
stockholders' deficit.


SECUREALERT INC: Inks GPS Monitoring Contract in Brazil
-------------------------------------------------------
SecureAlert Inc., International Surveillance Services Corporation,
and Empresa Brasileira de Seguranca Ltda. signed a GPS offender
monitoring contract in Brazil.

On Monday Aug. 16, 2010, the Superintendent of Correctional
Services Mario Santa Maria Junior, in the Brazilian state of Rio
Grande do Sul, signed an emergency contract with the Company
through SecureAlert's Brazilian partners to immediately deploy 200
of the Company's TrackerPAL II(e) devices on offenders located in
and around the metropolitan area of Porto Alegre.  SUSEPE has
already identified an initial 256 eligible offenders to
participate in the program and has also communicated the need to
publish requirements by the end of August 2010 for an additional
800 offenders to be monitored, while forecasting growth to 5,000
offenders in total, as offender electronic monitoring is
introduced statewide throughout Rio Grande do Sul going forward.

SecureAlert, Inc., together with its partners in Latin America,
have worked for the last three years to create awareness and to
demonstrate the advantages and benefits of offender monitoring
technologies within Brazil and surrounding countries.  The
recognition of these efforts culminated on June 16, 2010 when Law
12.258 was approved and published by Luis Inacio Lula da Silva.
The law authorizes offender electronic monitoring throughout
Brazil, subject to certain conditions.  The law signed by
President Luiz Inacio Lula da Silva amends the Penal Code and the
Penal Execution Law to provide for such monitoring and includes
sanctions for non-compliance by offender participants.

"This is a historical moment for SecureAlert, as it paves the way
for additional contracts and opportunities that the Company has
pending throughout the Region," said John Hastings President and
Chief Operating Officer of SecureAlert.  "Brazil in particular is
very progressive in its thinking and creation of re-socialization
initiatives, providing visionary support for both public safety
and offender re-entry solutions, wherein electronic monitoring
serves as one of many new tools and technologies that the
government will utilize to successfully implement revolutionary
correctional programs," said Mr. Hastings.

Mr. Hastings further noted that over the past year, "SecureAlert
and its proprietary TrackerPAL technologies and intervention
solutions have received a great deal of recognition and public
support, as illustrated by numerous articles and media coverage
throughout Brazil, where the Company has successfully demonstrated
and piloted its technologies for several state governments."

                         About SecureAlert

Headquartered in Sandy, Utah, SecureAlert, Inc. (formerly
RemoteMDx, Inc.) (OTC BB: RMDX) -- http://www.securealert.com/--
and subsidiaries market and deploy offender management programs,
combining patented GPS tracking technologies, fulltime 24/7/365
intervention-based monitoring capabilities and case management
services.

The Company's balance sheet as of March 31, 2010, showed
$13,210,763 in assets, $9,367,296 of liabilities, and $3,843,467
of stockholders' equity.

                          *     *     *

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 as of and 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.


SENIOR HOUSING: S&P Raises Corporate Credit Rating From 'BB+'
-------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Newton, Mass.-based real estate investment trust Senior
Housing Properties Trust to 'BBB-' from 'BB+'.  At the same time,
S&P affirmed its 'BBB-' issue-level rating on $425 million of
senior unsecured notes and removed its recovery rating on the
notes because Standard & Poor's does not maintain recovery ratings
on debt issued by investment-grade companies.  The outlook is
stable.

"S&P's ratings on Senior Housing Properties reflect significant
portfolio growth in recent years and the demonstrated stability of
the REIT's cash flow through the current economic downturn," said
Standard & Poor's credit analyst James Fielding.  "This stable
cash flow and the adherence to relatively conservative financial
policies continue to support leverage and coverage measures that
compare favorably with those of similarly rated REITs."

The ratings continue to acknowledge risks associated with a
concentrated tenant base that relies on somewhat discretionary
demand for senior housing.  However, in S&P's view, Senior Housing
Properties maintains capacity to absorb some diminution in rental
income should it become necessary to renegotiate leases or replace
a tenant-operator in several of its healthcare facilities.

The stable outlook is supported by a conservatively leveraged
balance sheet and above-average debt service coverage measures,
compared with those of similarly rated peers.  This relative
financial strength provides senior housing with the flexibility to
absorb a tenant default or negotiate moderately lower lease rates
to support a weaker tenant.  However, tenant concentration remains
a key credit risk and an impediment to further positive rating
momentum at this time.  S&P expects cash flow to remain relatively
stable over the next two years; however, S&P would lower its
rating if adverse changes in the economy or the health care
industry affect tenants in a way that compels Senior Housing
Properties to reduce rents more than S&P's stress scenarios
anticipate and fixed-charge coverage drops below 3.0x.  Ratings
would also come under pressure if funds from operations were not
sufficient to fully cover all fixed charges plus common dividends.


SIGMA INDUSTRIES: Announces Management Cease Trade Order
--------------------------------------------------------
Sigma Industries Inc. was not in a position to file its audited
financial statements for fiscal year ended April 24, 2010, related
management's discussion and analysis and CEO and CFO certificates
for the deadline of August 23, 2010.

Further to the recent filing of its proposal in bankruptcy under
the Bankruptcy and Insolvency Act, which was approved by its
creditors on August 2, 2010 and ratified by the Superior Court of
Quebec on August 3, 2010, Sigma is currently negotiating with its
institutional lenders the last details for the renewal of credit
facilities at its disposal and consequently does not expect to in
a position to file its audited financial statements before
September 13, 2010.

The Company has applied to the Autorite des marches financiers,
Alberta Securities Commission and the British-Columbia Securities
Commission for a temporary management cease trade order (a "MCTO")
under Policy Statement 12-203 which, if granted, will prohibit
trading in securities of the Company by certain insiders of the
Company. An MCTO would not generally affect the ability of persons
who have not been directors, officers or insiders of the Company
to trade securities of the Company. The granting of a MCTO is at
the discretion of AMF, ASC and BCSC and there is no assurance that
such an order will granted.

If the MCTO is granted, the Company intends to satisfy the
provisions of the Alternative Information Guidelines as set out in
the Policy Statement 12-203 for as long as the Company remains in
default, including the issuance of bi-weekly default status
reports, each of which will be issued in the form of a press
release.

                        About Sigma Industries

Sigma Industries Inc. (TSX-V: SIC.V), a leading composite and
metal products manufacturer, has five operating subsidiaries and
employs 350 people. The Company is active in the growing heavy-
duty truck, coach, transit and bus, train and subway, machinery,
agriculture, light forestry, and wind energy market segments.
Sigma sells its products to original equipment manufacturers and
distributors in the United States, Canada and Europe.

Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.


SINCLAIR BROADCAST: Amends & Refinance Portion of Credit Facility
-----------------------------------------------------------------
Sinclair Broadcast Group Inc. has refinanced a portion of its
senior secured bank credit facility and amended certain of its
terms.

Under the amendment, Sinclair paid down $35.0 million of its
existing $305.0 million term loan B from available cash on hand,
leaving a remaining balance of $270.0 million.  Pricing on the
term loan B was also reduced by 50 basis points to LIBOR plus
4.00% with a LIBOR floor of 1.50%.  The term loan B maturity of
October 29, 2015 was unchanged.

In addition, certain terms of the Bank Credit Agreement were also
amended to provide Sinclair more incremental term loan capacity
and more flexibility in using its cash balances and the revolving
credit facility.

                     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 a
stockholders' deficit of $170.36 million.

                           *     *     *

Sinclair Broadcast has a 'B1' corporate family rating from
Moody's.  It has a 'B+' corporate credit rating from Standard &
Poor's Ratings Services.

"The CFR continues to reflect still high financial risk,
nonetheless, and the inherent cyclicality of the broadcast
television business, among other factors," Moody's said in August
2010.

"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 in August.


SOFTLAYER TECHNOLOGIES: S&P Withdraws 'B' Corporate Credit Rating
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it withdrew its 'B'
corporate credit rating on privately held Dallas-based hosting and
managed service provider Softlayer Technologies Inc. at the
company's request.

At the same time, S&P withdrew the 'B' issue rating and '3'
recovery rating on the company's proposed $230 million of bank
loan facilities, including a $190 million term loan due 2016, a
$20 million delayed-draw term loan due 2016, and a $20 million
revolving credit due 2015.

These facilities were never completed as proposed.


SOUTH COAST: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: South Coast Metal Finishing, Inc.
        dba West Coast Metal Finishing
        5722 Bandera Street
        Los Angeles, CA 90058

Bankruptcy Case No.: 10-44684

Chapter 11 Petition Date: August 18, 2010

Court: United States Bankruptcy Court
       Central District Of California (Los Angeles)

Judge: Richard M. Neiter

Debtor's Counsel: David R Haberbush, Esq.
                  HABERBUSH & ASSOCIATES, LLP
                  444 W Ocean Blvd., Suite 1400
                  Long Beach, CA 90802
                  Tel: (562) 435-3456
                  Fax: (562) 435-6335
                  E-mail: dhaberbush@lbinsolvency.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-44684.pdf

The petition was signed by Ernest Garcia, vice president.


SPHERIS INC: MedQuist, CBay Settle $21 Million Claim
----------------------------------------------------
Bankruptcy Law360 reports that MedQuist Inc. and CBay Inc. have
won court approval of a settlement of their $21 million claim
stemming from their $116.3 million acquisition of the assets of
Spheris Inc.

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware issued an order approving the deal Monday, saying the
deal was in the best interests of Spheris, according to Law360.

                         About Spheris Inc.

Headquartered in Franklin, Tennessee, Spheris Inc. --
http://www.spheris.com/-- is a global provider of clinical
documentation technology and services.

Spheris Inc., along with five affiliates, filed for Chapter 11 on
Feb. 3, 2010 (Bankr. D. Del. Case No. 10-10352).  Attorneys at
Young Conaway Stargatt & Taylor, LLP, and Willkie Farr & Gallagher
LLP represent the Debtors in their Chapter 11 effort.  Jefferies &
Company serves as financial advisors to the Debtors.  Attorneys at
Schulte Roth & Zabel LLP and Landis Rath & Cobb LLP serve as
counsel to the prepetition and DIP lenders.  Garden City Group
Inc. is claims and notice agent.  The petition says that assets
range from $50 million to $100 million while debts range from
$100 million to $500 million.

The estate of Spheris Inc. is now formally named SP Wind Down Inc.
after it sold the business in April.  CBay Inc.'s MedQuist Inc.
purchased the domestic business of Spheris for $98.8 million.


STATION CASINOS: Asks for Nod of Plan Settlement With Committee
---------------------------------------------------------------
Debtors Station Casinos, Inc., and FCP PropCo, LLC, ask the Court
to approve their stipulation with the Official Committee of
Unsecured Creditors pursuant to which the Committee agreed to
forbear from engaging in any litigation activity and support the
Debtors' First Amended Joint Chapter 11 Plan of Reorganization.
Pursuant to the Stipulation, the Debtors will modify the Plan to
provide distribution to the general unsecured creditors.

The Debtors assert that the Stipulation closes the door on
litigation that would have proved very costly.

"The settlement reflected in the Stipulation is a major step
forward in confirming the Plan," says Paul S. Aronzon, Esq., at
Milbank, Tweed, Hadley & McCloy LLP, in Los Angeles, California.

A full-text copy of the Committee Stipulation is available for
free at http://bankrupt.com/misc/SCI_CommitteeStip728.pdf

                      Expense Reimbursement

The Debtors also seek the Court's authority to comply with the
requirement of a Term Sheet that directs them to pay the expense
reimbursement to the Put Parties.  The Commitment Letter described
in the Term Sheet represents a commitment of capital by the Put
Parties in an amount of at least $35.3 million, and effectively
requires the Put Parties to be prepared to fund an additional
$64.6 million, the so-called Upsizing Commitment Amount.

The "Put Parties" are entities affiliated with Fidelity Management
& Research Company; Oaktree Capital Management, L.P.; and
Serengeti Asset Management, L.P.

The backstop provided by the Put Parties assures that the full
amount of the Rights Offering will be funded.  The Put Parties are
substantial creditors of the Debtors, holding 40% or more of the
unsecured senior notes issued by SCI.

The Debtors agreed to pay the Put Parties' costs in an amount not
to exceed $1.7 million, half paid upon entry of an order approving
the Committee Stipulation and the remainder promptly after
confirmation of the Plan.

"The Court should approve the Expense Reimbursement as an
expenditure of estate resources out of the ordinary course of
business under the authority of Bankruptcy Code Section
363(b)(1)," Mr. Aronzon asserts.

                       About Station Casinos

Station Casinos, Inc., is a gaming and entertainment company that
currently owns and operates nine major hotel/casino properties
(one of which is 50% owned) and eight smaller casino properties
(three of which are 50% owned), in the Las Vegas metropolitan
area, as well as manages a casino for a Native American tribe.

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

In its bankruptcy petition, Station Casinos said that it had
assets of $5,725,001,325 against debts of $6,482,637,653 as of
June 30, 2009.  About 4,378,929,997 of its liabilities constitute
unsecured or subordinated debt securities.

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


STATION CASINOS: Presents Settlement With Shareholders
------------------------------------------------------
Debtors Station Casinos, Inc., Fertitta Partners LLC and FCP
Holding, Inc., ask the Court to approve a stipulation entered into
by and among:

  (i) Debtor SCI;

(ii) Debtor FCP Holding;

(iii) Debtor Fertitta Partners, FJF Investco, LLC and LJF
      Investco, LLC; and

(iv) FC Investor, LLC, FC Co-Investment Partners, L.P., Colony
      Investors VII, L.P., Colony VII FC Holdings, LLC, Colony
      VIII FC Holdings, LLC, Colony Investors VIII, L.P., Colony
      Parallel Investors VIII Holdings, L.P., Colony Parallel
      Investors VIII, L.P., Colony Parallel NA-RE Investors VIII
      Holdings 2C, L.P. and Colony Parallel NA-RE Investors
      VIII, L.P.

Pursuant to the Stipulation, the direct and indirect shareholders
of SCI have agreed not to take any action that would cause the
Debtors to undergo an ownership change for the purpose of Section
382 of the Internal Revenue Code.  According to the Debtors, the
intent of the agreement is to preserve the value of the Debtors'
substantial net operating loss carryforwards.

As described in the Disclosure Statement, the Debtors and SCI's
subsidiaries file a consolidated tax return, and the Debtors
estimate that, as of December 31, 2009, the SCI Group had incurred
consolidated NOLs of approximately $855 million, and based on year
to date 28 performances, the SCI Group expects to incur addition
NOLs in 2010.

The Debtors expect to incur a material amount of net taxable gain
as a result of the Restructuring Transactions, and will utilize
their significant NOLs to offset the projected gain.  The Debtors
relate that an inability to utilize the NOLs to offset net gain
from the Restructuring Transactions would cause them to be subject
to a material amount of federal income tax, which would impair the
feasibility of the Plan.

Paul S. Aronzon, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in
Los Angeles, California, relates that the ability of the Debtors
to use their NOLs to offset gain and income is subject to certain
statutory limitations.  Sections 382 and 383 of the Tax Code limit
a corporation's use of its NOLs, tax credits and other tax
attributes to offset future income after that corporation has
undergone an "ownership change."

For purposes of Section 382 of the Tax Code, an Ownership Change
generally occurs when the percentage of a company's equity
held by one or more persons or entities holding 5% or more of that
company's stock increases by more than 50 percentage points above
the lowest percentage of ownership owned by that shareholder at
any time during the relevant three-year testing period.  An
Ownership Change can be also occur if a "50-percent shareholder,"
as that term is used Section 382 of the Tax Code, claims a tax
deduction with respect to its direct or indirect interest in the
company's equity.

According to Mr. Aronzon, an Ownership Change of SCI could
significantly reduce or eliminate the Debtors' ability to use the
NOLs, thereby resulting in a substantial loss of value, which
would impair the feasibility of the Plan.

The Colony entities own, directly or indirectly, 75.94% of the
non-voting stock in SCI, and the Fertitta entities own, directly
or indirectly, 24.06% of the non-voting stock of SCI.

The Debtors previously informed the Colony and Fertitta entities
that they intended to seek an order of the Court prohibiting
certain direct and indirect shareholders in SCI from taking any
action that could cause the Debtors to undergo an Ownership
Change.  The shareholders have responded by entering into the
Stipulation, contractually binding themselves not to take any
action that could cause the Debtors to undergo an Ownership
Change, until the date that is one day after the Effective Date of
the Plan.

"The Debtors' NOLs represent very substantial economic value to
the estates," Mr. Aronzon says.  He adds that if the Debtors did
not have access their NOLs to offset the net gain recognized as a
result of the Restructuring Transactions, they could not implement
the Plan.  Thus, Mr. Aronzon maintains, preservation of the NOLs
is critical to the Plan.

A full-text copy of the Shareholders' Stipulation is available for
free at http://bankrupt.com/misc/SCI_ShareholderStip.pdf

                       About Station Casinos

Station Casinos, Inc., is a gaming and entertainment company that
currently owns and operates nine major hotel/casino properties
(one of which is 50% owned) and eight smaller casino properties
(three of which are 50% owned), in the Las Vegas metropolitan
area, as well as manages a casino for a Native American tribe.

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

In its bankruptcy petition, Station Casinos said that it had
assets of $5,725,001,325 against debts of $6,482,637,653 as of
June 30, 2009.  About 4,378,929,997 of its liabilities constitute
unsecured or subordinated debt securities.

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


STATION CASINOS: Proposes Global Settlement With Lender Group
-------------------------------------------------------------
Station Casinos, Inc., and its debtor affiliates ask the Court to
approve a stipulation they entered into with Deutsche Bank Trust
Company Americas, in its capacities as the Administrative Agent
and a lender under a Prepetition Opco Credit Agreement and certain
of the lenders under the Prepetition Opco Credit Agreement, the
current members of the so-called "Independent Lenders."

The Settling Lender Group is comprised of BNP Paribas, Natixis,
Sandell Asset Management Corp./Castlerigg Master Investments,
SilverPoint Capital, L.P., and The Bank of Nova Scotia.

The Stipulation generally provides that Settling Lender Group will
support confirmation of the Debtors' Plan, implementation of the
Plan and the related releases.  The Settling Lender Group also
agreed to cease and desist, and to seek appropriate stays or
withdrawals of all litigation activity, including with respect to
any future Chapter 11 proceedings of one or more of the Debtors'
subsidiaries which may be commenced to implement the Plan.

So long as (i) no member of the Settling Lender Group breaches its
obligations and (ii) one or more of the members of the Settling
Lender Group irrevocably commit to purchase $5.95 million of the
Revolving Credit Commitments under the New Opco Credit Agreement
on or before the Effective Date of the Plan, then on the Effective
Date of the Plan, the Settling Lenders will be reimbursed for
their reasonable and documented professional fees and expenses in
an aggregate amount not to exceed $2 million.  The Settling
Lenders represented that the actual professional fees and
expenses, as of June 30, 2010, incurred by them during the course
of the Debtors' cases total at least $3 million.

The Stipulation further provides that the Plan will be modified to
add the Settling Lenders as Exculpated Parties and Released
Parties and to otherwise effectuate the terms of the Stipulation.

On the Effective Date of the Plan, the Debtors will be deemed to
have waived any claims against Natixis on account of Natixis being
a Non-Funding Lender.

"The Stipulation reflects an important milestone in these chapter
11 cases," says Fred Neufeld, Esq., at Milbank, Tweed, Hadley &
McCloy LLP, in Los Angeles, California.  "If the Stipulation is
approved, the Debtors will have achieved a fully consensual Plan,
with not a single objection to confirmation of the Plan filed by
any holders of claims or equity interests, or any other party in
interest," he adds.

According to Mr. Neufeld, the Stipulation will avoid:

  (a) substantial administrative fees and expenses the Debtors
      would have incurred litigating the numerous issues raised
      by the Independent Lenders; and

  (b) the delay to the restructuring that could have been
      caused by that litigation.

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

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

Meanwhile, the Debtors sought and obtained the Court's order
shortening the time for hearing on the Motion.  Accordingly, the
Court will hear the Motion on August 27, 2010.

Thomas Friel, executive vice president, chief accounting officer,
and treasurer of the Debtors, filed with the Court a declaration
in support of the Motion to Shorten.  According to Mr. Friel, the
final signatures to the Stipulation were not received until August
18, 2010, preventing the Debtors from seeking a hearing on regular
notice for the Motion to be heard prior to confirmation of the
Plan.

                       About Station Casinos

Station Casinos, Inc., is a gaming and entertainment company that
currently owns and operates nine major hotel/casino properties
(one of which is 50% owned) and eight smaller casino properties
(three of which are 50% owned), in the Las Vegas metropolitan
area, as well as manages a casino for a Native American tribe.

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

In its bankruptcy petition, Station Casinos said that it had
assets of $5,725,001,325 against debts of $6,482,637,653 as of
June 30, 2009.  About 4,378,929,997 of its liabilities constitute
unsecured or subordinated debt securities.

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


STATION CASINOS: To Present Plan for Confirmation on Friday
-----------------------------------------------------------
Station Casinos, Inc., will present its reorganization plan for
confirmation at a hearing on August 27.

The Debtors have delivered to the U.S. Bankruptcy Court for the
District of Nevada a memorandum of law maintaining that their Plan
satisfies the confirmation requirements under Section 1129 of the
Bankruptcy Code.

Under the Plan, claims of creditors holding general unsecured
claims against Debtor SCI, Classes S.4 through S.7, are classified
separately because they are different in substance and nature, and
the claimholders have different rights against SCI and, in some
cases, 18 vis-a-vis each other.  Therefore, the Debtors assert
that there are justifiable, nondiscriminatory economic and
business reasons for separate classification of the unsecured
claims in Classes S.4, S.5, S.6 and S.7 in compliance with the
requirements of Bankruptcy Code Sections 1122(a) and 1129(a)(1).

Section 1123(a)(5) requires that the Plan provide adequate means
for implementation of the Plan and lists ten examples of those
implementation provisions.  The Debtors tell the Court that Plan
contains the principal means for its implementation.  According to
the Debtors, those provisions relate to, among other things:

  (a) the formation of the New Propco entities;

  (b) the transfer of the Master Lease Collateral to Propco;

  (c) the transfer of the Landco Assets;

  (d) the transfer of the New Propco Transferred Assets from
      Propco to the New Propco entities;

  (e) the transfer of the New Propco Purchased Assets from the
      Opco entities to the New Propco entities;

  (f) the transfer of the New Opco Acquired Assets to New Opco;

  (g) the New Propco Rights Offering;

  (h) the cancellation of prepetition instruments evidencing
      Claims and Equity Interest; and

  (i) the eventual dissolution of the Debtors.

The Debtors aver that the sale contemplated by the Stalking Horse
Asset Purchase Agreement, and the consummation of the other
restructuring transactions, are in the best interests of
themselves, their estates, their creditors and all other parties-
in-interest.

The Debtors add that the Plan complies with the requirements of
Section 1123(a)(7) because, under the Plan, on the Effective Date,
all current boards of directors of the Debtors will be dissolved
and all current officers will be dismissed.  In their place, a
Plan Administrator will be appointed prior to the Effective Date.
The Plan requires that the appointment of the Plan Administrator
will be subject to prior Court approval.  As a result, the Debtors
note, the Plan contains no provisions with respect to the manner
of selection of new officers and directors that is inconsistent
with public policy or the interests of Holders of Claim and Equity
Interests.

Section 1123(b)(2) of the Bankruptcy Code allows a Plan to provide
for assumption, assumption and assignment, or rejection of
executory contracts and unexpired leases pursuant to Section 365
of the Bankruptcy Code.  Consistent that provision, the Plan
provides for the assumption by the Debtors and assignment to the
applicable transferee on the Effective Date of certain designated
Executory Contracts and Unexpired Leases, and the rejection of all
other Executory Contracts and Unexpired Leases, in all cases in
accordance with, and subject to, the provisions and requirements
of Sections 365 and 1123.

Section 1123(b)(3)(A) of the Bankruptcy Code provides that a plan
may provide for the settlement or adjustment of any claim or
interest belonging to the Debtors or their Estates.  The Plan
provides for the retention by the Debtors of Causes of Action and
Litigation Claims not expressly released or settled under the
Plan, and the Plan provide for certain settlements and releases.

Section 1123(b)(4) of the Bankruptcy Code provides that a plan may
provide for the sale of all or substantially all of the property
of the estate, and the distribution of the proceeds
of that sale among Holders of claims or interests.  While the Plan
does not provide for a sale of substantially all of the Debtors'
assets, the New Opco Acquired Assets were marketed and will be
sold to the Successful Bidder, which was the Stalking Horse
Bidder, pursuant to the Plan, the Debtors maintain.

Section 1123(d) provides that if it is proposed in plan to cure
a default, the amount necessary to cure a default will be
determined in accordance with the underlying agreement and
applicable non-bankruptcy law.  The Debtors tell the Court that
the Plan provides for the cure of defaults in respect of all
executory contracts and unexpired leases that are being assumed
under the Plan and assigned to Purchaser, and requires that those
cure payments be made consistent with the requirements of Sections
365(b) and 365(c).

According to the Debtors, the Plan is an effort to maximize the
value of their assets for the benefit of their creditors through:

  (a) the marketing and sale of the New Opco Acquired Assets for
      the highest and best price; and

  (b) the transfer of the New Propco Acquired Assets to the
      secured creditors with the senior interests in those
      assets.

Moreover, the Debtors aver, the Plan is fair and equitable with
respect to non-accepting Classes of Secured Creditors because it
expressly complies with the requirements of Section 1129(b)(2)(A).

Daniel Aronson, managing director of Lazard Freres & Co. LLC, the
Debtors' financial advisor, filed with the Court a declaration in
support of the Plan.  According to Mr. Aronson, he has reviewed
the New Opco financial projections and believes that the
assumptions underlying the projections are reasonable and that New
Opco will be able to meet its debt service obligations.  Mr.
Aronson also evaluated the interest rate on the New Opco debt and
concluded that the debt bears below market interest rates, which
will make it easier for New Opco to meet its debt service
obligations going forward.

In a separate filing, Richard J. Haskins, executive vice
president, general counsel, and secretary of Station Casinos,
Inc., filed with the Court a declaration in support of the Plan.

                       About Station Casinos

Station Casinos, Inc., is a gaming and entertainment company that
currently owns and operates nine major hotel/casino properties
(one of which is 50% owned) and eight smaller casino properties
(three of which are 50% owned), in the Las Vegas metropolitan
area, as well as manages a casino for a Native American tribe.

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

In its bankruptcy petition, Station Casinos said that it had
assets of $5,725,001,325 against debts of $6,482,637,653 as of
June 30, 2009.  About 4,378,929,997 of its liabilities constitute
unsecured or subordinated debt securities.

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


STEPHEN WEBER: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Joint Debtors: Stephen Frederick Weber
               Cherie Lynn Weber
                 fka Cherie Lynn Peterson
               1108 North 109th Street
               Mesa, AZ 85207

Bankruptcy Case No.: 10-26192

Chapter 11 Petition Date: August 18, 2010

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Sarah Sharer Curley

Debtor's Counsel: Harold E. Campbell, Esq.
                  Campbell & Coombs, P.C.
                  1811 S. Alma School Road, Suite 225
                  Mesa, AZ 85210
                  Tel: (480) 839-4828
                  Fax: (480) 897-1461
                  E-mail: heciii@haroldcampbell.com

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

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

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/azb10-26192.pdf


SUSAN SOSNOW: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Susan L. Sosnow
        aka Kayla Sosnow
        dba Tree City Realty, LC
        dba Tree City Properties
        909B NW 6th Street
        Gainesville, FL 32601

Bankruptcy Case No.: 10-10441

Chapter 11 Petition Date: August 18, 2010

Court: United States Bankruptcy Court
       Northern District of Florida (Gainesville)

Debtor's Counsel: Sharon T. Sperling, Esq.
                  LAW OFFICE OF SHARON T. SPERLING
                  P.O. Box 358000
                  Gainesville, FL 32635-8000
                  Tel: (352) 371-3117
                  Fax: (352) 377-6324
                  E-mail: sharon@sharonsperling.com

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

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

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


S.W. BACH: Has Interest in Customer Accounts Transferred to AGI
---------------------------------------------------------------
Albert Togut, the chapter 7 trustee of S.W. Bach & Company, a
former broker-dealer, seeks partial summary judgment under Fed. R.
Civ. P. 56, made applicable to bankruptcy proceedings by Fed. R.
Bankr. P. 7056, against broker-dealer Andrew Garrett, Inc., on the
Trustee's constructive fraudulent transfer claim under 11 U.S.C.
Sec. 548(a)(1)(B) -- Count Nine.  AGI in turn seeks denial of
partial summary judgment and a dismissal of Count Nine.

During 2006, S.W. Bach's financial condition was deteriorating to
the point that it risked failing to meet capital requirements for
a broker-dealer.  Absent an infusion of capital or a sale of the
business, S.W. Bach faced the compelled shut down of its business.
In February 2007, S.W. Bach transferred its customer accounts --
with the attendant right to manage the accounts, as well as
customer information and relationships -- to AGI.

S.W. Bach earned a total of roughly $57.7 million in gross
commissions from the Accounts from 2004 through the period ending
February 28, 2007.  From the time the Accounts were transferred
until August 2008, AGI earned gross revenue of no less than $1.5
million "generated by the customer accounts that originally had
been at S W Back [sic]." Following the transfer of the Accounts,
AGI neither employed S.W. Bach's president Scott Shapiro nor made
promised payments to Mr. Shapiro, nor has AGI ever paid
consideration to the Debtor for the transfer of the Accounts.

The Debtor's creditors filed an involuntary petition for relief
against the Debtor under chapter 7 of the Bankruptcy Code (Bankr.
S.D.N.Y. Case No. 07-11569) on May 22, 2007.  The Court entered an
order for relief on June 29, 2007, and Mr. Togut was appointed as
the Trustee.

The Trustee alleges that the Debtor transferred customer
information and the valuable right to earn fees from its customer
accounts within two years of the Petition Date, for AGI's benefit,
for no consideration, constituting a fraudulent conveyance under
Section 548 of the Bankruptcy Code.  AGI does not deny that the
Debtor was (i) insolvent on the date the accounts were
transferred, or became insolvent as a result of the transfer;
and/or (ii) engaged in business or a transaction for which any
property remaining with the Debtor was an unreasonably small
capital at the time of, or a result of, the transfer of the
accounts, nor that the Accounts were transferred without
consideration.  AGI argues that the Debtor had "no cognizable
property interest in the customer accounts that were transferred
to AGI."

On August 18, 2010, Bankruptcy Judge Martin Glenn held that S.W.
Bach still had an interest in the Accounts from February 23, 2007,
when at least some of the Accounts were transferred, until (and
after) March 2, 2007, when AGI alleges the transfer of the
Accounts was completed.

Judge Glen granted the Trustee's motion for partial summary
judgment as to Count Nine.  The Court leaves damages to trial.

The case is Albert Togut, as Chapter 7 Trustee of S.W. Bach &
Company, v. RBC Dain Correspondent Services, a Division of RBC
Dain Rauscher Inc., RBC Capital Markets Corporation (f/k/a RBC
Dain Rauscher, Inc.), Andrew Garrett, Inc., Scott Shapiro and Jas
Management, case no. 09-01278 (Bankr. S.D.N.Y.), and a copy of the
decision is available at:

      http://www.leagle.com/unsecure/page.htm?shortname=inbco20100818541

The Chapter 7 Trustee is represented by:

          Steven S. Flores, Esq.
          TOGUT, SEGAL & SEGAL LLP
          One Penn Plaza
          New York, NY 10119
          Telephone: 212-594-5000
          Facsimile: 212-967-4258

Andrew Garrett, Inc. is represented by:

          Joseph M. Heppt, Esq.
          260 Madison Avenue
          New York, NY 10016
          Telephone: 212-973-0839
          E-mail: jmheppt@hepptlaw.com


TAGISH LAKE: Posts Notice of Change to Directors' Circular
----------------------------------------------------------
Tagish Lake Gold Corp. has filed with Canadian securities
regulatory authorities and commenced mailing of a notice of change
relating to the directors' circular dated August 3, 2010 issued by
the board of directors of the Company in connection with the
unsolicited takeover bid dated July 21, 2010 by New Pacific Metals
Corp. to acquire all of the shares and all of the proven secured
and unsecured debt of the Company.

The Board, with the benefit of advice from the special committee
of independent directors of the Board, the Company's legal
advisors and Evans & Evans, Inc., the financial advisor to the
Special Committee, and after having carefully reviewed and
considered the New Pacific Offer, the notices of change relating
thereto dated July 27, 2010 and August 20, 2010 and the Company's
other available alternatives, including the proposal made by YS
Mining Company Inc. on August 20, 2010 and the amended proposal
made by YS Mining on August 23, 2010, has unanimously decided NOT
TO MAKE A RECOMMENDATION with respect to the acceptance or
rejection of the New Pacific Offer, and urges shareholders and
debtholders of the Company to carefully review the matters
referred to in Notice of Change and Directors' Circular and come
to their own conclusions as to whether or not to accept or reject
the New Pacific Offer.

In making this recommendation, the Board considered numerous
factors, including the recommendation of the Special Committee and
the valuation of the Company and fairness opinion with respect to
the New Pacific Offer prepared by Evans, the full texts of which
are attached as Exhibits "A" and "B" to the Directors' Circular.
Shareholders of the Company are urged to read the Notice of Change
and Directors' Circular in their entirety.  Copies of the Notice
of Change and Directors' Circular are available under the
Company's profile on the System for Electronic Document Analysis
and Retrieval (SEDAR) website at: http://www.sedar.com/


                         About Tagish Lake

Tagish Lake Gold Corp. explores for and develops high grade gold-
silver mineral deposits in the Yukon Territory of Canada.  The
Company is currently focused on its wholly owned, 178 km2 Skukum
Mineral District located 80 km by road south of Whitehorse.  The
Skukum Mineral District hosts the Skukum Creek gold-silver
deposit, the Goddell Gully and the Mt. Skukum gold deposits.

In May 2010, Tagish Lake commenced proceedings in the Supreme
Court of British Columbia pursuant to the Companies' Creditors
Arrangement Act (Canada).   Grant Thornton Limited was appointed
as the Monitor for the Company.


TANGLEWOOD FARMS: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Tanglewood Farms, Inc. of Elizabeth City
        1268 U.S. Highway 17 South
        Elizabeth City, NC 27909

Bankruptcy Case No.: 10-06719

Chapter 11 Petition Date: August 20, 2010

Court: U.S. Bankruptcy Court
       Eastern District of North Carolina (Wilson)

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

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

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nceb10-06719.pdf

The petition was signed by James H. Winslow, president.


THANG NGUYEN: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Thang C. Nguyen
          aka Thang Cao Vu Nguyen
          dba Mercado Latino Y Mas
              Don's Investment
        Kim Hong Dang
        317 Crestridge Lane
        San Jose, CA 95138

Bankruptcy Case No.: 10-58631

Chapter 11 Petition Date: August 19, 2010

Court: United States Bankruptcy Court
       Northern District of California (San Jose)

Judge: Arthur S. Weissbrodt

Debtor's Counsel: Michael H. Luu, Esq.
                  LAW OFFICES OF MICHAEL H. LUU
                  1340 Tully Rd. #309
                  San Jose, CA 95122
                  Tel: (408) 425-6221
                  E-mail: mikeluu63@yahoo.com

Scheduled Assets: $1,075,327

Scheduled Debts: $2,086,266

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/canb10-58631.pdf


TIB FINANCIAL: Posts $14.09 Million Net Loss in June 30 Quarter
---------------------------------------------------------------
TIB Financial Corp. filed its quarterly report on Form 10-Q,
reporting a net loss of $14.09 million on $16.99 million of
interest and dividend income for the three months ended June 30,
2010, compared with a net loss of $4.88 million on $20.86 million
of interest and dividend income for the same period of 2009.

The Company's balance sheet as of June 30, 2010, showed
$1.659 billion in total assets, $1.620 billion in total
liabilities, and $39.036 million in total stockholders' equity.

As reported in the Troubled Company Reporter on April 6, 2010,
Crowe Horwath LLP, in Fort Lauderdale, Fla., expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that the Company incurred net
losses in 2009, 2008 and 2007, primarily from loan and investment
impairments.  In addition, the Company's bank subsidiary is
operating under an informal agreement with bank regulatory
agencies that requires, among other provisions, higher regulatory
capital requirements.  The Bank did not meet the higher capital
requirement as of December 31, 2009, and therefore is not in
compliance with the regulatory agreement.  Failure to comply with
the regulatory agreement may result in additional regulatory
enforcement actions.  At March 31, 2010, these elevated capital
ratios were not met.

According to the Form 10-Q, on July 2, 2010, the Bank entered a
Consent Order with the bank regulatory agencies under which, among
other things, the Bank has agreed to maintain a Tier 1 Capital
ratio of at least 8% of total assets and a Total Risk Based
Capital ratio of at least 12% within 90 days. The Consent Order
also governs certain aspects of the Bank's operations including a
requirement that it reduce the balance of assets classified
substandard and doubtful by at least 70% over a two-year period,
and not undertake asset growth of 5% or more per year without
prior approval from the regulatory agencies. The Consent Order
supersedes the Memorandum of Understanding.

On June 29, 2010, the Company and the Bank entered into a
definitive agreement with North American Financial Holdings, Inc.
for the investment of up to $350,000 in TIB through the purchase
of common stock, preferred stock and warrant.  Pursuant to the
definitive agreement, the Company agreed to sell to NAFH, at the
closing of the investment, 700 million shares of its common stock
at a purchase price of $0.15 per share and 70,000 shares of newly
created mandatorily convertible participating voting preferred
stock at a purchase price of $1,000 per share for a cumulative
total of $175,000.  Upon consummation of the investment it is
estimated that both the Company and the Bank will be well
capitalized and the Bank will be in compliance with the required
capital ratios of the Consent Order.

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

                http://ResearchArchives.com/t/s?69fa

Headquartered in Naples, Florida, TIB Financial Corp. (NASDAQ:
TIBB) is a bank holding company which through its wholly owned
subsidiaries, TIB Bank -- http://www.tibbank.com/-- and Naples
Capital Advisors, Inc. -- http://www.naplescapitaladvisors.com/--
offers a wide range of commercial, retail and private
banking and trust, investment management and other financial
services to businesses, individuals and families.


TRANS-LUX CORPORATION: Posts $2.6 Million Net Loss in Q2 2010
-------------------------------------------------------------
Trans-Lux Corporation filed its quarterly report on Form 10-Q,
reporting a net loss of $2.6 million on $6.3 million of revenue
for the three months ended June 30, 2010, compared with a net
loss of $3.8 million on $7.4 million of revenue for the same
period of 2009.

This year's second quarter loss includes a $1.0 million
restructuring charge and a $456,000 charge to write-off
engineering software.  The prior year's second quarter loss
includes the write-off of a $2.7 million note receivable related
to the former Norwalk, Conn. facility that the Company sold in
2004.

"We have implemented tremendous changes in the way we conduct
virtually every facet of our business to reflect the 'new' Trans-
Lux business model.  Streamlining operating costs and enhancing
operational efficiencies remain priorities, while simultaneously
improving manufacturing efficiencies and greatly expanding our
product line to cultivate new business opportunities.  And we are
already seeing results from these efforts," J.M Allain, President
and Chief Executive Officer, said.  "We are making strategic
investments to deliver the next generation of digital signage and
display solutions, and to establish new partnerships in various
segments of the digital display industry that will further
cultivate long-term growth."

The Company's balance sheet as of June 30, 2010, showed
$36.2 million in total assets, $33.0 million in total liabilities,
and stockholders' equity of $3.2 million.

As reported in the Troubled Company Reporter on April 24, 2010,
UHY LLP, in Hartford, Connecticut, expressed substantial
doubt about the Company's ability to continue as a going concern
after auditing the Company's financial statements for the year
ended December 31, 2009.  The independent auditors noted that the
Company has incurred significant recurring losses from continuing
operations and has a significant working capital deficiency.
Further, the Company is in default of the indenture agreements
governing its outstanding 9-1/2% Subordinated Debentures and its
8-1/4% Limited Convertible Senior Subordinated Notes.

In its latest 10-Q, the Company discloses that it continues to be
involved in discussions with various entities to try to obtain
additional debt or equity financing including amounts that could
be used to settle the Debentures and Notes, however there can be
no assurance that it will be successful.

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

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

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

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

                   About Trans-Lux Corporation

Norwalk, Conn.-based Trans-Lux Corporation (NYSE Amex: TLX) is a
designer and manufacturer of digital signage display solutions for
the financial, sports and entertainment, gaming and leasing
markets.


TRICO MARINE: Files Chapter 11 Petition in Delaware
---------------------------------------------------
Trico Marine Services, Inc.'s U.S. companies and its Cayman
Islands holding company have filed voluntary petitions for relief
under Chapter 11 of Title 11 of the United States Code in the
United States Bankruptcy Court for the District of Delaware.

Aside from the Cayman Islands holding company, Trico's foreign
subsidiaries were not included in the filing and will not be
subject to the requirements of the U.S. Bankruptcy Code.  Trico's
U.S. and worldwide operations are expected to continue without
interruption during the restructuring process.

Chairman of the Board of Directors, President and Chief Executive
Officer, Richard A. Bachmann commented, "Over the last several
months, we have worked diligently to improve our liquidity,
including through the sale of $3 million of non-core assets, the
sale of a North Sea class vessel for $16 million and additional
cost-cutting initiatives.  While we are beginning to see
indications of improved operational performance, the combination
of a sluggish economy, a highly leveraged balance sheet and
imminent interest payments due, has led us to determine that a
court-supervised restructuring is the best course of action for
the Company and its stakeholders.  While we are continuing
discussions with our lenders, the Board decided to begin this
process now in order to get the Company's restructuring underway
without delay.  We intend to move through this process as quickly
as possible.  Throughout the restructuring process, we will remain
focused on operating our business worldwide while continuing our
efforts to manage costs, strengthen our balance sheet and gain
financial flexibility in order to position Trico as a strong and
profitable competitor in our industry."

In conjunction with the filing, Trico has received a commitment
for up to $35 million in debtor-in-possession financing from
Tennenbaum DIP Opportunity Fund and other funds managed by
Tennenbaum Capital Partners, LLC (collectively, "Tennenbaum"), of
which $10 million will represent incremental liquidity.  The
Company expects that, upon Court approval and satisfaction of
other customary conditions, the DIP financing, combined with cash
from the Company's ongoing operations, will provide funding to
support the business.  In addition, the Company anticipates that
it will meet its obligations going forward to its employees,
customers and suppliers.

Separately, the Company announced that Trico Shipping AS and its
affiliates have reached an agreement in principle for $22 million
in senior secured multi-draw term loan financing from certain
holders of its 11 7/8% Senior Secured Notes (the ?Trico Shipping
Notes?) representing approximately 80% of the Trico Shipping Notes
and Tennenbaum.  The closing of this financing arrangement is
subject to obtaining required consents, as well as certain other
closing conditions of Trico Shipping AS and its affiliates.  This
financing would be used to fund operating expenses and other
working capital needs.

"We look forward to working together with all of our stakeholders
to complete a successful financial restructuring," said Mr.
Bachmann.  "Our global operations are expected to continue without
interruption throughout the restructuring process, and we remain
committed to providing our customers with high quality service.
We appreciate the ongoing dedication of all our employees, whose
hard work is critical to our success and the future of the
Company."

Trico will file a series of motions with the Court to ensure the
continuation of normal operations, including requesting Court
approval to continue paying employee wages and salaries and
providing employee benefits without interruption and to continue
use of its bank accounts and insurance policies.  The Company
expects the Court to approve these requests.  During the Chapter
11 process, suppliers will be paid in full for all goods and
services provided after the filing date as required by the U.S.
Bankruptcy Code, and Trico has taken steps to ensure continued
supply of goods and services to its customers.

Trico has established a toll-free Restructuring Information
Hotline for employees, suppliers, customers, investors and other
interested parties, in the United States at 1-888-369-8929 or
internationally at 214-647-7656.  More information is also
available on Trico's website, http://www.tricomarine.com/where
the Company has set up a special restructuring section.  For
access to Court documents and other general information about the
Chapter 11 cases, please visit http://dm.epiq11.com/trico/

                    About Trico Marine Group

The Trico Marine Group is an integrated provider of subsea,
trenching and marine support vessels and services.  Trico's towing
and supply division provides a broad range of marine support
services to the oil and gas industry through use of its
diversified fleet of vessels including the transportation of
drilling materials, supplies and crews to drilling rigs and other
offshore facilities; towing drilling rigs and equipment, and
support for the construction, installation, repair and maintenance
of offshore facilities.  Trico's subsea services and
trenching/installation divisions control a well equipped fleet of
vessels and operate a fleet of modern ROVs and trenching and other
subsea protection equipment. The Trico Marine Group is
headquartered in The Woodlands, Texas and has a global presence
with operations in the North Sea, West Africa, Mexico, Brazil and
Southeast Asia.


UNISYS CORP: S&P Raises Corporate Credit Rating to 'B+'
-------------------------------------------------------
Standard & Poor's Ratings Services said that it raised its
corporate credit rating on Blue Bell, Pa.-based Unisys Corp. to
'B+' from 'B'.  The outlook is stable.

S&P also raised the senior unsecured debt rating on Unisys' issues
to 'B+' from 'B' and revised the recovery rating to '3', which
indicates S&P's expectation for meaningful (50% to 70%) recovery
for lenders in the event of a default, from '4'.  S&P raised the
issue ratings on Unisys' senior secured first- and second-lien
debt to 'BB' from 'BB-'.  The recovery rating remains unchanged at
'1', which indicates S&P's expectation for very high (90% to 100%)
recovery for lenders in the event of a default.

"The upgrade reflects Unisys' improved operating performance over
the past nine months and adequate liquidity, which provides some
capacity at the current rating level for potential earnings
volatility," said Standard & Poor's credit analyst Martha Toll-
Reed.  The ratings on Unisys Corp. reflect S&P's view that the
company's moderate leverage for the rating and consistently
positive annual free cash flow will provide sufficient cushion in
the near term to mitigate ongoing revenue declines and lack of
operating performance predictability.

With annual revenues of about $4.4 billion, Unisys' declining
revenue base reflects global economic weakness, exposure to
foreign currency fluctuations, and the company's strategic
decision to de-emphasize and divest lower-margin business.
Unisys' vulnerable business risk profile reflects the company's
second-tier position in the global IT services market, an
aggressive competitive environment, and lack of Technology segment
earnings predictability.  These factors are partly offset by a
significant base of contractually recurring service revenues.  S&P
expects uncertain economic conditions and recent weakness in
Unisys' important federal government outsourcing services sector
will continue to impede Unisys' ability to stabilize revenues in
the near term.

Total revenues and operating profitability has improved
substantially.  They benefited from Unisys' efforts to improve its
operating focus and reduce costs, and from revived server
technology sales in the first half of 2010.  Last-12-month (LTM)
adjusted EBITDA margins improved to 14% as of June 30, 2010, about
double the year-earlier level.  Both the services and technology
segments have contributed to profitability improvements, but the
technology segment in particular benefited from strong, growth-
driven operating leverage.  However, given the lack of visibility
of technology revenues, the current rating and outlook incorporate
the potential for some downside volatility in near term operating
earnings.

The stable outlook reflects Unisys' moderate leverage for the
rating level and consistently positive annual free cash flow
generation.  Ongoing revenue declines and relatively volatile
quarterly operating performance preclude ratings upside.  On the
other hand, failure to maintain positive annual operating cash
flow and/or total debt to annualized EBITDA greater than 4.5x for
two or more consecutive quarters could lead to lower ratings.


UNIVERSAL BUILDING: Court Okays K&L Gates as Bankruptcy Counsel
---------------------------------------------------------------
Universal Building Products, Inc., et al., sought and obtained
authorization from the U.S. Bankruptcy Court for the District of
Delaware to employ K&L Gates LLP as bankruptcy counsel, nunc pro
tunc to the Petition Date.

K&L Gates will, among other things:

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

     b. prepare motions, applications, answers, orders, reports,
        and papers necessary to the administration of the Debtors'
        estates and their Chapter 11 cases;

     c. take any necessary action on behalf of the Debtors to
        obtain approval of a disclosure statement and confirmation
        of the Debtors' plan of reorganization; and

     d. advise the Debtors in connection with an potential sale of
        assets.

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

        Harley J. Goldstein, Partner       $605
        Sven T. Nylen, Partner             $385
        Sarah H. Bryan, Associate          $300
        New Associates                     $200
        Senior Partners                    $990
        Legal Assistants                 $65-$370

Sven T. Nylen, Esq., an attorney at K&L, assures the Court that
the firm is "disinterested" as that term is defined in Section
101(14) of the Bankruptcy Code.

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).  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.


UNIVERSAL BUILDING: Gets Court OK to Hire Saul Ewing as Co-Counsel
------------------------------------------------------------------
Universal Building Products, Inc., et al., sought and obtained
authorization from the U.S. Bankruptcy Court for the District of
Delaware to employ Saul Ewing LLP as general reorganization and
bankruptcy co-counsel, nunc pro tunc to the Petition Date.

Saul Ewing's and primary bankruptcy counsel K&L Gates LLP's
lawyers have conferred about their respective roles in the
Debtors' bankruptcy cases to avoid duplication of effort.  K&L
Gates doesn't maintain an office in the State of Delaware, and the
Debtors are required to retain Delaware counsel.

Saul Ewing will, among other things:

     a. represent the Debtors in proceedings and hearings in the
        Court;

     b. represent the Debtors, and act as primary counsel, in any
        matter in which K&L Gats has a conflict;

     c. advise the Debtors concerning, and assist in the
        negotiation and documentation of, financing agreements,
        debt restructurings, cash collateral arrangements, and
        related transactions; and

     d. review the nature and validity of liens asserted against
        the property of the Debtors and advise the Debtors
        concerning the enforceability of the lines.

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

        Mark Minuti, Partner                      $600
        Teresa K.D. Currier, Partner              $625
        MaryJo Bellew, Associate                  $425
        Melissa W. Rand, Associate                $260
        Monique Bair, Associate                   $225
        Partners                               $320-$800
        Special Counsel                        $270-$475
        Associates                             $225-$425
        Paraprofessionals                      $150-$265

Mark Minuti, Esq., at Saul Ewing, assures the Court that the firm
is "disinterested" as that term is defined in Section 101(14) of
the Bankruptcy Code.

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).  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.


VICTORY MEMORIAL: Medical Malpractice Claim Filed Too Late
----------------------------------------------------------
WestLaw reports that a creditor that did not bring a medical
malpractice claim against a hospital until approximately 11 months
after expiration of the claims bar date in the hospital's Chapter
11 case was not a "known creditor," but only an "unknown creditor"
of the debtor, that was entitled to no more than constructive
notice of the hospital's Chapter 11 filing and of the claims bar
date.  It did not matter that, prior to expiration of the claims
bar date, the creditor requested medical records from the
hospital.  Even if the hospital knew that the records were
requested for purposes of evaluating the possibility of a
malpractice claim, any such claim was merely conceivable,
conjectural or speculative until after the bar date expired.  In
re Victory Memorial Hosp., --- B.R. ----, 2010 WL 3199935 (Bankr.
E.D.N.Y.) (Craig, J.).

Based in Brooklyn, New York, Victory Memorial Hospital is a
non-profit, full service acute care voluntary hospital with
approximately 241 beds and a skilled nursing unit with 150 beds.
Victory Hospital provides a full range of medical services with a
focus on community care and a program of community outreach to the
Brooklyn community.  Victory Ambulance Services, Inc. a for-profit
subsidiary, provides Victory Hospital with ambulance services.
Victory Pharmacy, Inc., a for-profit subsidiary, does not have
any employees or assets.  The company and its two-subsidiaries
sought chapter 11 protection (Bankr. E.D.N.Y. Case No. 06-44387)
on Nov. 15, 2006.  Timothy W. Walsh, Esq., and Jeremy R. Johnson,
Esq., at DLA Piper US LLP, represent the Debtors.  Craig E.
Freeman, Esq., and Martin G. Bunin, Esq., at Alston & Bird LLP,
represent the Official Committee of Unsecured Creditors.
When the Debtors sought protection from their creditors, they
estimated assets and debts between $1 million and $100 million.
The Debtor sold its main campus in 2008 for $44.9 million and
proposed a chapter 11 plan to distribute those sale proceeds
to creditors later that year.


VYTERIS INC: Audit Committee Taps EisenAmper LLP as Accountant
--------------------------------------------------------------
Vyteris Inc. notified on Aug. 16, 2010, that Amper, Politziner and
Mattia LLP, an independent registered public accounting firm
combined its practice with that of Eisner LLP and the name of the
combined practice operates under the name EisnerAmper LLP.  The
Audit Committee of the Company's Board of Directors has engaged
EisnerAmper LLP to serve as the Company's new independent
registered public accounting firm.

                        About Vyteris, Inc.

Based in Fair Lawn, New Jersey, Vyteris, Inc. (formerly Vyteris
Holdings (Nevada), Inc., has developed and produced the first FDA-
approved electronically controlled transdermal drug delivery
system that transports drugs through the skin comfortably, without
needles.  This platform technology can be used to administer a
wide variety of therapeutics either directly into the skin or into
the bloodstream.  The Company holds approximately 50 U.S. and 70
foreign patents relating to the delivery of drugs across the skin
using an electronically controlled "smart patch" device with
electric current.

According to the Company's 2009 annual report on Form 10-K, Amper,
Politziner & Mattia, LLP, in Edison, N.J., expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that the Company has incurred
recurring losses and is dependent upon obtaining sufficient
additional financing to fund operations and has not been able to
meet all of its obligations as they become due.


WORKSTREAM INC: Four Individuals Elected Directors
--------------------------------------------------
Workstream Inc. appointed new Board of Directors, new capital
structure and additional capital for the human capital technology,
software and services company.  The changes are expected to result
in growth of the business and the introduction of additional
products as well as to set a course for possible future
acquisitions.  In making the announcement, the company outlined
plans that are intended to allow the company to become a stronger
human capital management business, expanding on the current
Workstream Software as a Service offerings.

John Long, former CEO of First Advantage Corporation, will take
over as CEO of Workstream, replacing Michael Mullarkey, the
founder and current CEO, who will remain with the company.  Under
Long's watch, First Advantage Corporation grew from a small
division of First American Corporation to a stand-alone publicly
traded company with over a billion dollar market cap.  Workstream
will maintain its current headquarters in Maitland, Florida,
outside of Orlando.

Workstream offers a set of technology solutions and services to
help employers meet challenging human capital issues.  The
offering includes software and data for recruiting, managing
performance reviews, developing competencies for employees,
succession planning, communicating with employees about benefits
and managing compensation and non-cash rewards programs.  A
pioneer in the human capital management sector, Workstream has
multi-language capabilities that serve a growing international
customer base.

Commenting on the move, John Long said, "Workstream is a vibrant
company with a suite of innovative human capital technology
solutions.  The company's compensation management, performance
management and recruiting products are best in class.  In
addition, the Rewards and Recognition services and 6FigureJobs
career site owned by Workstream are exceptional businesses.  I
have been impressed with the services and look forward to putting
the company on a path to growth. Recently, Workstream has expanded
the services supplied to current clients and succeeded in landing
contracts with new clients."

Company Founder Michael Mullarkey added, "Workstream has a solid,
loyal customer base that relies on its products to manage
performance reviews and variable pay, establish individual goals
and competencies and other strategic human capital functions,
using technology.  With John Long on board, an expanded management
team and a solid capital structure, we can focus on building out
the service offering by responding to our customers.
Increasingly, companies are seeking to adopt more of the solutions
Workstream offers to help attract and retain talent. The solutions
are highly scalable and we believe bring great results to
employers."

A new Board of Directors will guide Workstream: Jeffrey Moss,
Chairman of the Board; Biju Kulathakal; Denis Sutton; and CEO John
Long. Chairman Jeffrey Moss said: "I am delighted to be a part of
this newly re-energized company and participate in its future
initiatives.  We are fortunate to be in a growing market with an
established set of solutions that are in high demand.  And we have
a management team in place who have successfully executed on
growing quality businesses in the human capital sector during
their careers."

Members of the new Board of Directors will be:

  * Jeffrey Moss -- Chairman of the Board -- Chief of Enterprise
    Growth, Educational Testing Service (ETS), Princeton, New
    Jersey and Chicago, Illinois;

  * Biju Kulathakal -- Chairman and CEO of Trading Block Holdings,
    Inc. -- a financial services holding company, based in
    Chicago, Illinois;

  * Denis E. Sutton -- Senior Vice President, Human Resources, MTS
    Allstream -- Enterprise Solutions Division, Winnipeg,
    Manitoba, Canada

  * John Long -- CEO, Workstream Inc.

Joining Long as part of the management team are David Kennedy,
Chief Operating Officer, and Ezra Schneier, Corporate Development
Officer.  Both worked with Long in similar roles at First
Advantage Corporation.

Workstream also announced that it had completed a capital
restructuring pursuant to which the holders of its senior secured
debt exchanged such debt for a total of 682,852,374 common shares
in Workstream.  In addition, certain of such note holders as well
as members of the company's new management team agreed to invest
in the company by purchasing an aggregate $1.25 Million of
Workstream's common shares in a private placement.  Following the
exchange of the senior secured debt and the issuance of shares in
the private placement, Workstream's former debt holders and new
management team will own approximately 92% of the company's issued
and outstanding common shares.  As part of the capital
restructuring, one of the note holders agreed to loan the company
$750,000 pursuant to which the company issued such note holder a
new senior secured note.  The company expects to use the proceeds
for working capital purposes and to expand the business.

"This new capital structure allows us to focus on growth and
innovation without being burdened by a heavy debt load," Long
said.  With a new capital structure, the company intends to
strengthen the business and seek strategic acquisitions to build
out the suite of available services and solutions.  Long said:
"Our strategy is to be the preferred vendor for our clients and
bring them the solutions they need to manage a variety of human
capital requirements.  In this regard, we will look to acquire
companies that have top-shelf services and technology that are
complementary to the Workstream solutions."

"The goal for Workstream is to become a larger, more diversified
human capital technology and service provider," Mr. Long said.
"This is a market that we believe is under-served today.  At the
same time, the needs of businesses to improve the way they manage
HR functions continues to expand.  Managing human capital
continues to shift from an administrative function to a strategic
area for employers, with huge potential returns. We expect
Workstream to be right in the middle of helping to enable that
shift."

Continued Mr. Long: "We will achieve success by listening to our
customers and serving the needs of existing and new clients in the
months ahead.  Workstream has a combination of great products,
state of the art technology, skilled management and staff with a
culture that emphasizes customer service.  We believe it is a
great platform for future growth."

                       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.

The Company's balance sheet at February 28, 2010, showed
$14,564,794 in assets, $30,051,615 in debts, and a stockholders'
deficit of $15,486,821.

The Company reported a net loss of $20,624,691 on $3,961,775 of
revenue for the three months ended February 28, 2010, compared
with net income of $573,852 on $5,637,698 of revenue for the same
period ended February 28, 2009.


* Canada Bankruptcies Rose 4.3% in June From May
------------------------------------------------
Bloomberg News reports that Canada's bankruptcy superintendent
reported on its Web site that bankruptcies in the country hiked
4.3% in June from the previous month.  The number of insolvencies,
including proposals, increased 7.1%, the agency said.
Bankruptcies for consumers were up 4.1%, while business
bankruptcies increased 11%.


* Commercial-Property Owners Default on Debts, Surrender Bldgs
--------------------------------------------------------------
The Wall Street Journal's Kris Hudson and A.D. Pruitt report that
some of the largest commercial-property owners are defaulting on
debts and surrendering buildings worth less than their loans.  The
Journal reports that companies such as Macerich Co., Vornado
Realty Trust and Simon Property Group Inc. have recently stopped
making mortgage payments to put pressure on lenders to restructure
debts.  In many cases they have walked away, sending keys to
properties whose values had fallen far below the mortgage amounts,
a process known as "jingle mail."  These companies all have piles
of cash to make the payments.  They are simply opting to default
because they believe it makes good business sense.

"We don't do this lightly," said Robert Taubman, chief executive
of Taubman Centers Inc., according to the report.

The Journal says Taubman, with upscale properties such as the
Beverly Center in Los Angeles, decided earlier this year to stop
covering interest payments on its $135 million mortgage on the
Pier Shops at Caesars in Atlantic City, N.J.  Taubman, which
estimates the mall is now worth only $52 million, gave it back to
its mortgage holder.

"Where it's fairly obvious that the gap is large, as it was with
the Pier Shops, individual owners are making very tough
decisions," he said.

According to the Journal, investors are rewarding public companies
for ditching profit-draining investments.  The report says
Deutsche Bank AG's RREEF, which manages $56 billion in real-estate
investments, now favors companies that jettison cash-draining
properties with nonrecourse debt, loans that don't allow banks to
hold landlords personally responsible if they default.  The theory
is that those companies fare better by diverting money to
shareholders or more lucrative projects.

"To the extent that they give back assets or are able to rework
the [mortgage] terms, it just accrues to the benefit" of the real-
estate investment trust, says Jerry Ehlinger, RREEF's co-chief of
real-estate securities, according to the report.

The Journal notes that earlier this month, a group led by
investment firms Colony Capital relinquished control of the $2
billion Xanadu retail development in New Jersey to a bank group,
blaming their creditors for balking at a restructuring.  The
lender group said it is "disappointed that despite its best
efforts" it couldn't reach a deal.

The Journal also says more landlords are expected to follow suit.
The Journal relates that, according to debt-analysis company Trepp
LLC, of the $1.4 trillion of commercial-real-estate debt coming
due by the end of 2014, roughly 52% is attached to properties that
are underwater.  And as the economic recovery sputters, owners of
struggling properties are realizing a big property-value rebound
isn't imminent.

The Journal also notes that in one recent CMBS default, Vornado,
one of the country's largest owners of offices and malls, stopped
payments on an $18 million mortgage on the Cannery at Del Monte
Square mixed-use development in San Francisco.  Simon Property
Group last year also walked away from the struggling Palm Beach
Mall in West Palm Beach, Fla.  And Macerich in July forfeited
Dallas's Valley View Center mall, which was saddled with a $135
million mortgage.

The Journal says Harris Trifon, head of research on commercial-
real-estate debt for Deutsche Bank, says walkaways won't derail
the nascent return of CMBS-financed properties.  "But you have the
potential for more pain for select groups of investors," he says.


* Morgan Joseph Says Fund Uses Move Away From Paying Off Creditors
------------------------------------------------------------------
The new capital provided by the recent bond market surge is going
towards uses other than paying off creditors or refinancing debt
as was primarily the case in prior periods, according to Morgan
Joseph LLC's newly issued Restructuring Quarterly Newsletter.
Moreover, the trend is beginning to be felt in a variety of other
favorable ways as well, including greater attention being paid by
lenders to middle market companies.

"Compared to 2009, when 3 out of every 4 dollars from new high
yield issues went to refinancing existing debt, thus far in 2010
only 2 out of 3 dollars are used for refinancing," says James D.
Decker, a Morgan Joseph Managing Director who heads the
Restructuring Group.  "While a far cry from 2007, when only 30% of
proceeds went towards refinancing debt, along with M&A and
recapitalizations, the ability for business to tap debt capital
for reasons other than simply debt repayment is certainly a
positive trend and one that could lead to more corporate spending
and growth initiatives in the future."

Among other trends, the Morgan Joseph Restructuring Newsletter
also noted:

   * One beneficiary of the high yield exuberance has been the
     loan provider that has been repaid and now has capital to
     deploy.  As a consequence of their holdings of outstanding
     leveraged loans, the primary recipient of such capital has
     been CLO funds, which for the most part, remain in their
     investment windows and are incentivized or required to put
     capital back to work in the loan market.  Accordingly, The
     Morgan Joseph Restructuring Group points out that "despite
     the fact that a handful of CLO funds have been raised this
     year (mostly for repackaging of loans rather than new money
     vehicles), CLOs have actually grown their presence in the
     loan market from just north of 40% in 2008 to approximately
     50% in this year's first half."

   * Despite a recovered credit market and increasing M&A activity
     providing exit options for lenders, inter-lender dynamics and
     institutional concerns are still allowing many borrowers to
     push out maturities -- using so-called "amend to extend"
     options -- without resorting to new money financings.

   * Combined with amend to extend activity, the loan supply
     resurgence has caused the near term wall of maturities to
     diminish.  Over the past 18 months, 2011 maturities have been
     almost fully addressed, and 2012-2013 maturities have been
     essentially cut in half.

   * Credit market participants are hungry for yield, and spreads
     between first and second lien loans remained below 100 basis
     points for the third straight month in July 2010, compared
     with a year earlier when spreads were almost 800 basis
     points.  "One can easily see that the price of risk in the
     market has diminished dramatically," the Newsletter notes.

   * The restructuring market overall is in a prolonged pause,
     with defaults having fallen sharply and lenders leaning
     towards flexibility rather than pushing for exits.  "On an
     annualized year-to-date basis," reports the Morgan Joseph
     Restructuring Group, "principal defaults are now hovering
     around 2 percent and trending below 1 percent, well below
     averages of 3 to 4 percent during the last decade, and even
     further short of the mid-2009 peak of nearly 11 percent."
     Even when defaults occur, borrowers are not being forced to
     restructure their balance sheets as lenders continue to
     exhibit a willingness to amend and extend.


   * The increasing availability of capital is beginning to
     stimulate credit providers to search for yield in less liquid
     and smaller deals.  Thus, the market for cash flow term loans
     and second lien loans for middle market borrowers is once
     again becoming competitive as new funds enter the market.

                         About Morgan Joseph

Morgan Joseph LLC, a New York City headquartered full service
investment bank, provides financial advisory and capital raising
services to the Middle Market.  The firm's services include M&A
and restructuring advice, equity and debt private placements, as
well as public offerings.  In addition, Morgan Joseph provides
equity research and sales and trading services for institutional
clients.  Morgan Joseph's staff of over 125 is heavily weighted to
highly experienced professionals mostly from major Wall Street
firms and intimately familiar with the issues facing middle market
companies.  The firm is a member of both the Financial Industry
Regulatory Authority (FINRA) and the Securities Investors
Protection Corp. (SIPC).

The five Principals managing the Morgan Joseph Financial
Restructuring Group collectively have over 70 years of financing
and restructuring experience.  Since 2001, they have completed
more than 80 company and creditor transactions, and restructured
approximately $25 billion of debt in in-court and out-of-court
transactions.


* Properly Valuing Assets May Bankrupt Some Banks, Says Economist
-----------------------------------------------------------------
Dara Doyle at Bloomberg News reports that Nobel Prize-winning
economist Jos Stiglitz said some banks may be bankrupt if their
assets were marked down to reflect their true value.  "One of the
concerns in the U.S. and Ireland, is that we've been using bad
accounting to try to hide the true state of banks' balance
sheets," he said in an interview broadcast by Dublin-based RTE
Radio August 24.  He added that if assets are marked down to
reflect true value, the banks would need to raise more capital,
and some may "even be bankrupt."


* Two-Year Limit Means Two-Year Anniversary, Says Appeals Court
---------------------------------------------------------------
Bill Rochelle, columnist at Bloomberg News, says the U.S. Court of
Appeals for the Eight Circuit in St. Louis ruled, in Myers v.
Raynor (In re Raynor), 09-2464, that a fraudulent transfer suit is
still timely when filed on the "two-year anniversary" of the
Chapter 11 filing

Mr. Rochelle recounts that a husband filed under Chapter 11 on
Sept. 13, 2004.  On Sept. 13, 2006, the bankruptcy trustee sued
the wife.  The husband appealed a ruling that the suit was filed
in time.  The appeals court found no ambiguity in the governing
statute, Section 546(a) of the Bankruptcy Code, which in substance
says that the suit couldn't be commenced "after . . . two years
after" the filing of the Chapter 11 petition.

According to Mr. Rochelle, the appeals court rejected the
husband's argument that the two-year period ended on Sept. 12,
2006.  The appeals court said a suit of the type may be filed on
the "two-year anniversary."


* Neal Gerber Partner Named to Ch. 7 Trustees Panel
---------------------------------------------------
Neal, Gerber & Eisenberg LLP disclosed that firm partner Deborah
M. Gutfeld has been appointed to the panel of chapter 7 trustees
serving the Chicago area as part of the U.S. Trustee Program.  The
primary role of the U.S. Trustee Program is to serve as the
watchdog over the bankruptcy process.  The U.S. Attorney General
is charged with the appointment of United States Trustees and
Assistant United States Trustees.

The United States Trustee Program is a component of the Department
of Justice that seeks to promote the efficiency and protect the
integrity of the Federal bankruptcy system.  To further the public
interest in the just, speedy and economical resolution of cases
filed under the Bankruptcy Code, the Program monitors the conduct
of bankruptcy parties, oversees related administrative functions,
and acts to ensure compliance with applicable laws and procedures.
It also identifies and helps investigate bankruptcy fraud and
abuse in coordination with United States Attorneys, the Federal
Bureau of Investigation, and other law enforcement agencies.

"We are delighted Deborah has been appointed to the panel of
chapter 7 trustees," said Neal Gerber Eisenberg Financial
Restructuring and Bankruptcy Practice Group chair Mark A. Berkoff.
"Her appointment is a reflection of her extraordinary background
and depth of experience in this area of the law."

Ms. Gutfeld is a member of Neal Gerber Eisenberg's Financial
Restructuring and Bankruptcy Practice Group.  She has represented
debtors in large national cases in matters related to professional
retention, claim objections, executory contracts and asset
disposition.

Additionally, she has handled Chapter 7 bankruptcy cases for
creditors and trustees, with a specific focus on preference
adversary work, and has extensive experience representing
landlords and enforcing their claims in large retail bankruptcy
cases.  She earned her J.D. from Northwestern University School of
Law.  She graduated from Indiana University - Bloomington with a
B.S. in marketing and international business. She is admitted to
the Illinois bar.

               About Neal, Gerber & Eisenberg LLP

Neal Gerber Eisenberg is a Chicago-based law firm providing legal
services to a diverse group of clients in a wide array of domestic
and global business transactions and litigation matters.  The
firm's clients include privately and publicly held companies,
financial institutions, not-for-profit organizations and high net
worth individuals.  The firm's client base reflects virtually
every business industry, including a number of Fortune 100
companies.  The firm has grown to nearly 175 attorneys who share
common values of integrity, a dedication to high quality legal
services and a commitment to diversity. The firm's 22 practice
areas range from Antitrust & Trade Regulation, Associations & Not-
for-Profit Organizations, Corporate & Securities, Directors' &
Officers' Insurance, Securities & Commodities Litigation,
Financial Restructuring and Bankruptcy, White Collar Criminal,
Real Estate, Information Technology, Intellectual Property and
Private Wealth Services to Employee Benefits & Executive
Compensation, Environmental, Finance, Health Law, Tax, Litigation
and Labor & Employment.


* Steven Rofsky to Head Cain Brothers' Restructuring Practice
-------------------------------------------------------------
Cain Brothers & Company, the health care investment banking firm,
has disclosed the hiring of Steven P. Rofsky as Head of the firm's
Restructuring Group.

Mr. Rofsky joins Cain Brothers as a Managing Director in the
firm's New York office where he will lead a team of senior bankers
in assisting tax-exempt and investor-owned entities, including
boards, management teams, sponsors, and creditor groups to
coordinate financial restructuring solutions between borrowers and
lenders.

Most recently, Mr. Rofsky was Managing Director, Portfolio Risk
Management at Ambac Assurance Corporation, where he directed the
portfolio risk management activities for over $175 billion of
insured exposure in many of Ambac's most risky asset classes and
led restructuring, workout, and recovery efforts.  Notably, while
at Ambac, Mr. Rofsky served as chairman of the unsecured creditors
committee in the $3 billion bankruptcy proceeding for National
Century Financial Enterprises.  Prior to his tenure at Ambac, Mr.
Rofsky held related positions at American Capital Access Financial
Guaranty Corporation, Merrill Lynch Asset Management, Prudential
Insurance Company of America, and J.P. Morgan Securities. He is a
graduate of State University of New York at Binghamton and earned
an MPA at Columbia University.

Robert Fraiman, CEO of Cain Brothers said, "Steve's deep
experience with health care credit markets and his focus on
finding solutions that are reasonable for both debtors and
creditors enables us to continue to offer our clients the highest
level of hands-on expertise and service.  Given the difficulties
in the economy, changes resulting from health care reform, and
continued uncertainty in the financial markets, we expect our
restructuring team to be well-positioned to assist clients to
develop workable financial restructurings."

Mr. Rofsky said, "I am pleased to join Cain Brothers and its
Restructuring Group. I have seen how effective Cain Brothers has
been in the troubled health care credit arena, and I am looking
forward to my involvement with the firm's clients and growing this
important line of business.  I believe that the firm's
restructuring practice benefits greatly from Cain Brothers' deep
industry-related expertise in the senior living, acute care
hospital, and related health care sectors."

                        About Cain Brothers

Cain Brothers -- http://www.cainbrothers.com/--is a leading
investment banking firm that focuses exclusively on the health
care industry.  The firm's clients include investor-owned and tax-
exempt providers, payors, health care information technology and
medical technology companies and financial sponsors.  The firm has
one of the largest teams of experienced bankers and capital
markets professionals on Wall Street dedicated to the health care
industry.  Operating out of nine offices across the country, Cain
Brothers creates custom-tailored, market-based capital raising,
M&A, real estate, and strategic and financial advisory solutions
for its clients.


* J. Lisac Joins Dresner Partners to Lead Restructuring Practice
----------------------------------------------------------------
Dresner Partners, a leading middle-market investment bank and
IMAP-member firm, disclosed that Jamie Lisac has joined the firm
as Managing Director and will lead the Financial Restructuring and
Corporate Turnaround practice.

Mr. Lisac specializes in complex corporate restructurings and
reorganizations of distressed middle-market companies, both in and
outside of Chapter 11, either on behalf of the company or its
stakeholders.  He has also advised clients on finance, accounting
and treasury management operations as well as the formulation and
implementation of cost reduction initiatives while serving in
senior level interim management roles.  Mr. Lisac has a broad
range of industry experience including automotive, sub-prime
mortgage, energy, printing, retail and wholesale music and
entertainment, public utilities and distribution and
manufacturing.  Prior to joining Dresner Partners, Mr. Lisac held
senior positions at leading restructuring firms AlixPartners and
FTI Consulting.

Steven M. Dresner, president and founder of Dresner Partners,
said, "Dresner Partners is dedicated to serving our clients at
every stage of the business life cycle.  We see an increasing need
to provide restructuring services to the middle market and Jamie
brings the highly specialized expertise required to help our
clients succeed in today's challenging credit markets and economic
climate."

"Middle-market companies have had far less access to credit than
larger companies over approximately the last year which will
create significant challenges for middle-market companies in the
near future.  Dresner Partners is well positioned and highly
qualified to provide financial restructuring and corporate
turnaround services to these companies and I am very excited to
join a firm with such a strong reputation in the middle market,"
said Mr. Lisac.

Mr. Lisac holds an MBA with an emphasis in Finance from Saint
Louis University and received his BS in Business from the
University of Missouri - Columbia.  Mr. Lisac is a Certified
Insolvency and Restructuring Advisor and a Certified Turnaround
Professional.  He is a member of the Turnaround Management
Association, American Bankruptcy Institute, Association of
Corporate Growth, Commercial Finance Association and the
Association of Insolvency and Restructuring Advisers.

                    About Dresner Partners

Dresner Partners -- http://www.dresnerpartners.com/-- is a
middle-market investment bank based in Chicago.  Founded in 1991,
Dresner Partners provides financial advisory services to
companies, business owners and managers throughout the world,
including institutional private placements of debt and equity,
merger and acquisitions, financial restructuring and corporate
turnaround, and valuation and strategic consulting services.
Dresner Partners is also a member of IMAP, an exclusive global
organization of leading merger and acquisition advisory services
firms.  Its affiliate company, Dresner Corporate Services, is a
strategic communications firm specializing in investor and public
relations.


* Chapter 11 Cases with Assets & Liabilities Below $1,000,000
-------------------------------------------------------------
Recent Chapter 11 cases filed with assets and liabilities below
$1,000,000:

In Re Boggess, Inc.
   Bankr. S.D. Fla. Case No. 10-34102
      Chapter 11 Petition Filed August 16, 2010
         See http://bankrupt.com/misc/flsb10-34102.pdf

In Re J&K Gift Shop
   Bankr. S.D. Fla. Case No. 10-34097
      Chapter 11 Petition Filed August 16, 2010
         See http://bankrupt.com/misc/flsb10-34097.pdf

In Re Word of Mouth Trees and Landscaping, Inc.
   Bankr. S.D. Fla. Case No. 10-34054
      Chapter 11 Petition Filed August 16, 2010
         Filed As Pro Se

In Re Gregory C. Roche, D.O., P.C.
   Bankr. E.D. Mich. Case No. 10-65749
      Chapter 11 Petition Filed August 16, 2010
         See http://bankrupt.com/misc/mieb10-65749.pdf

In Re Harmony Grove Holdings, LLC
   Bankr. D. Nev. Case No. 10-25481
      Chapter 11 Petition Filed August 16, 2010
         See http://bankrupt.com/misc/nvb10-25481.pdf

In Re PFC Lamont Hill Memorial Army Navy Garrisson #2003
   Bankr. N.D. Ohio Case No. 10-18088
      Chapter 11 Petition filed August 16, 2010
         Filed As Pro Se

In Re Nelson Investment Co., Inc.
   Bankr. E.D. Okla. Case No. 10-81463
      Chapter 11 Petition Filed August 16, 2010
         See http://bankrupt.com/misc/okeb10-81463.pdf

In Re Euro International Group Corp.
   Bankr. D. Puerto Rico Case No. 10-07441
      Chapter 11 Petition Filed August 16, 2010
         See http://bankrupt.com/misc/prb10-07441.pdf

In Re LNI-LAN Network Infrastructures Inc.
   Bankr. W.D. Wash. Case No. 10-19637
      Chapter 11 Petition filed August 16, 2010
         Filed As Pro Se

In Re Meridian Real Estate Opportunity Fund II LLC
   Bankr. W.D. Wash. Case No. 10-19644
      Chapter 11 Petition filed August 16, 2010
         Filed As Pro Se

In Re Meridian Real Estate Opportunity Fund I LLC
   Bankr. W.D. Wash. Case No. 10-19645
      Chapter 11 Petition filed August 16, 2010
         Filed As Pro Se

In Re John N. Liu
   Bankr. N.D. Calif. Case No. 10-33164
      Chapter 11 Petition Filed August 17, 2010
         See http://bankrupt.com/misc/canb10-33164.pdf

In Re Aaron Mark Goncalvesr
      Nicole Caracciolo Goncalves2
   Bankr. S.D. Calif. Case No. 10-14565
      Chapter 11 Petition filed August 17, 2010
         Filed As Pro Se

In Re Juloania, Inc.
   Bankr. D. Maine Case No. 10-11277
      Chapter 11 Petition Filed August 17, 2010
         See http://bankrupt.com/misc/meb10-11277.pdf

In Re Kevin C. Harriman
   Bankr. D. Mass. Case No. 10-18925
      Chapter 11 Petition Filed August 17, 2010
         See http://bankrupt.com/misc/mab10-18925.pdf

In Re Waverly Street Restaurant Group, Inc.
   Bankr. D. Mass. Case No. 10-18917
      Chapter 11 Petition Filed August 17, 2010
         See http://bankrupt.com/misc/mab10-18917.pdf

In Re Empresas Martinez Investigaciones Y Policia Privada Inc.
   Bankr. D. Puerto Rico No. 10-07460
      Chapter 11 Petition Filed August 17, 2010
         See http://bankrupt.com/misc/prb10-07460.pdf

In Re Southland Fab & Offshore, Inc.
   Bankr. S.D. Texas No. 10-20637
      Chapter 11 Petition Filed August 17, 2010
         See http://bankrupt.com/misc/txsb10-20637.pdf

In Re Allison J. Batchelder
   Bankr. E.D. Va. No. 10-51521
      Chapter 11 Petition Filed August 17, 2010
         See http://bankrupt.com/misc/vaeb10-51521.pdf

In Re Hofkens Building & Supply, Inc.
   Bankr. E.D. Wis. No. 10-33441
      Chapter 11 Petition Filed August 17, 2010
         See http://bankrupt.com/misc/wieb10-33441.pdf

In Re Mt. Zion Church of God in Christ
   Bankr. C.D. Calif. Case No. 10-36253
      Chapter 11 Petition filed August 18, 2010
         Filed As Pro Se

In Re Rolf Berschneider
      Gina Berschneider
   Bankr. C.D. Calif. No. 10-44675
      Chapter 11 Petition Filed August 18, 2010
         Filed As Pro Se

In Re William O. Iyasere
      Blessing A. Iyasere
   Bankr. E.D. Calif. Case No. 10-41943
      Chapter 11 Petition filed August 18, 2010
         Filed As Pro Se

In Re Todd Edward Macaluso
   Bankr. S.D. Calif. No. 10-14685
      Chapter 11 Petition Filed August 18, 2010
         See http://bankrupt.com/misc/casb10-14685p.pdf
         See http://bankrupt.com/misc/casb10-14685c.pdf

In Re Performance Fuels Inc.
        aka Performance Fuels LLC
   Bankr. W.D. La. No. 10-12509
      Chapter 11 Petition Filed August 18, 2010
         See http://bankrupt.com/misc/lawb10-12509.pdf

In Re The Sky Room, Inc.
   Bankr. D. Mass. No. 10-18958
      Chapter 11 Petition Filed August 18, 2010
         See http://bankrupt.com/misc/mab10-18958.pdf

In Re Promotional Buying Group, LLC
   Bankr. D. N.J. No. 10-35444
      Chapter 11 Petition Filed August 18, 2010
         See http://bankrupt.com/misc/njb10-35444.pdf

In Re Sidney Office Building LLC
   Bankr. S.D. Ohio No. 10-35320
      Chapter 11 Petition Filed August 18, 2010
         See http://bankrupt.com/misc/ohsb10-35320p.pdf
         See http://bankrupt.com/misc/ohsb10-35320c.pdf

In Re Viajes Carely, Inc.
   Bankr. D. Puerto Rico No. 10-07501
      Chapter 11 Petition Filed August 18, 2010
         See http://bankrupt.com/misc/prb10-07501.pdf

In Re EGSR1, LLC
   Bankr. D. Ariz. No. 10-26349
      Chapter 11 Petition Filed August 19, 2010
         See http://bankrupt.com/misc/azb10-26349.pdf

In Re Grant Street Mansion, LLC
   Bankr. D. Colo. Case No. 10-31094
      Chapter 11 Petition filed August 19, 2010
         Filed As Pro Se

In Re Florida Fisherman, Inc.
   Bankr. M.D. Fla. No. 10-19926
      Chapter 11 Petition Filed August 19, 2010
         See http://bankrupt.com/misc/flmb10-19926.pdf

In Re MPG 216th Street, LLLP
   Bankr. M.D. Fla. Case No. 10-19856
      Chapter 11 Petition filed August 19, 2010
         Filed As Pro Se

In Re Wakulla Christian Schools, Inc.
   Bankr. N.D. Fla. No. 10-40803
      Chapter 11 Petition Filed August 19, 2010
         See http://bankrupt.com/misc/flnb10-40803.pdf

In Re Jo Ann Wright
   Bankr. D. Md. No. 10-29007
      Chapter 11 Petition Filed August 19, 2010
         See http://bankrupt.com/misc/mdb10-29007.pdf

In Re International Gospel Party Boosting Jesus Groups, Inc.
   Bankr. D. Mass. No. 10-19012
      Chapter 11 Petition Filed August 19, 2010
         See http://bankrupt.com/misc/mab10-19012.pdf

In Re Toby Matthew Hansen
      Keli Lynn Hansen
   Bankr. D. Mont. No. 10-62020
      Chapter 11 Petition Filed August 19, 2010
         See http://bankrupt.com/misc/mtb10-62020.pdf

In Re Mott Marina, LLC
  Bankr. E.D. N.Y. No. 10-47839
      Chapter 11 Petition Filed August 19, 2010
         See http://bankrupt.com/misc/nyeb10-47839.pdf

In Re Tres Hermanos
  Bankr. D. N.M. No. 10-14207
      Chapter 11 Petition Filed August 19, 2010

In Re Ward Street Associates
   Bankr. S.D. N.Y. Case No. 10-37496
      Chapter 11 Petition filed August 19, 2010
         Filed As Pro Se

In Re GOG Production LLC
  Bankr. W.D. Okla. No. 10-15084
   Chapter 11 Petition Filed August 19, 2010
         See http://bankrupt.com/misc/okwb10-15084.pdf

In Re The Miller Real Estate Partnership
  Bankr. E.D. Pa. No. 10-16974
   Chapter 11 Petition Filed August 19, 2010
         See http://bankrupt.com/misc/paeb10-16974.pdf

In Re Carlos D. Perez Andino
  Bankr. D. Puerto Rico No. 10-07509
   Chapter 11 Petition Filed August 19, 2010
         See http://bankrupt.com/misc/prb10-07509.pdf

In Re Bruce Arthur Inglis
        dba Salono Salono"
        dba "Salono Bruce"
        dba "Salono Salons"
  Bankr. E.D. Va. No. 10-35781
   Chapter 11 Petition Filed August 19, 2010
         See http://bankrupt.com/misc/vaeb10-35781.pdf

In Re Chase Steppig Limited Family Partnership, LLC
  Bankr. E.D. Ark. No. 10-16079
   Chapter 11 Petition Filed August 20, 2010
         See http://bankrupt.com/misc/areb10-16079.pdf

In Re Amatulli Auto Parts, Inc.
  Bankr. C.D. Calif. No. 10-36652
   Chapter 11 Petition Filed August 20, 2010
         See http://bankrupt.com/misc/cacb10-36652.pdf

In Re Citrus Cafe, Inc.
  Bankr. C.D. Calif. No. 10-21661
   Chapter 11 Petition Filed August 20, 2010
         See http://bankrupt.com/misc/cacb10-21661.pdf

In Re JJJ Diners, Inc.
        dba California Wok
  Bankr. C.D. Calif. No. 10-45020
   Chapter 11 Petition Filed August 20, 2010
         See http://bankrupt.com/misc/cacb10-45020.pdf

In Re Roy O'Dell Fields, II
   Bankr. N.D. Calif. Case No. 10-13213
      Chapter 11 Petition filed August 20, 2010
         Filed As Pro Se

In Re Elias Mendez
      Enid Mendez
  Bankr. D. Conn. No. 10-32502
   Chapter 11 Petition Filed August 20, 2010
         See http://bankrupt.com/misc/ctb10-32502.pdf

In Re Fusion Cuisine, Inc.
  Bankr. D. D.C. No. 10-00821
   Chapter 11 Petition Filed August 20, 2010
         See http://bankrupt.com/misc/dcb10-00821.pdf

In Re Dan H. Schoneck
  Bankr. S.D. Fla. Conn. No. 10-34724
   Chapter 11 Petition Filed August 20, 2010
         See http://bankrupt.com/misc/flsb10-34724.pdf

In Re Epoch Green Partners, LLC
  Bankr. M.D. Fla. No. 10-14869
   Chapter 11 Petition Filed August 20, 2010
         See http://bankrupt.com/misc/flmb10-14869.pdf

In Re Koffee Kart, Inc.
   Bankr. N.D. Ga. Case No. 10-13136
      Chapter 11 Petition filed August 20, 2010
         Filed As Pro Se

In Re Bratt Investments LLC
  Bankr. D. Kan. No. 10-12851
   Chapter 11 Petition Filed August 20, 2010
         See http://bankrupt.com/misc/ksb10-12851.pdf

In Re KMS Uniforms, LLC
  Bankr. W.D. La. Conn. No. 10-31584
   Chapter 11 Petition Filed August 20, 2010
         See http://bankrupt.com/misc/lawb10-31584.pdf

In Re Juan Ramos
        aka Juan Ramos Calixto
  Bankr. D. Md. No. 10-29070
   Chapter 11 Petition Filed August 20, 2010
         See http://bankrupt.com/misc/mdb10-29070p.pdf
         See http://bankrupt.com/misc/mdb10-29070c.pdf

In Re 63 Main St Realty Trust
  Bankr. D. Mass. No. 10-44133
   Chapter 11 Petition Filed August 20, 2010
         See http://bankrupt.com/misc/mab10-44133.pdf

In Re Pleasant Street Realty Trust
  Bankr. D. Mass. Conn. No. 10-44132
   Chapter 11 Petition Filed August 20, 2010
         See http://bankrupt.com/misc/mab10-44132.pdf

In Re Jeffrey Mccomas
      Sherrie Mccomas
        fka Sherrie Lynne Hill
        fka Sherrie Lynne Strege
        fka Sherrie Lynne Emmons-Hill
  Bankr. D. Nev. No. 10-25829
   Chapter 11 Petition Filed August 20, 2010
         See http://bankrupt.com/misc/nvb10-25829.pdf

In Re Tres Hermanos
  Bankr. D. N.M. No. 10-14240
   Chapter 11 Petition Filed August 20, 2010
         See http://bankrupt.com/misc/nmb10-14240.pdf

In Re Cosmo Express International Corp.
  Bankr. E.D. N.Y. No. 10-47875
   Chapter 11 Petition Filed August 20, 2010
         See http://bankrupt.com/misc/nyeb10-47875.pdf

In Re Irina's Help Corp.
  Bankr. E.D. N.Y. No. 10-47912
   Chapter 11 Petition Filed August 20, 2010
         See http://bankrupt.com/misc/nyeb10-47912.pdf

In Re New Third World, Inc.
  Bankr. E.D. Pa. No. 10-17007
   Chapter 11 Petition Filed August 20, 2010
         See http://bankrupt.com/misc/paeb10-17007.pdf

In Re Samuel Bezares Gomez Inc.
        aka Restaurant El Mariachi
   Bankr. D. Puerto Rico. Case No. 10-07613
      Chapter 11 Petition filed August 20, 2010
         See http://bankrupt.com/misc/prb10-07613.pdf

In Re Joseph Daniel Almand
        dba Dan Almand Builders
      Gloria S. Almand
  Bankr. MD. Tenn. No. 10-08857
   Chapter 11 Petition Filed August 20, 2010
         See http://bankrupt.com/misc/tnmb10-08857.pdf



                           *********

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

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

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

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

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

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

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

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

                           *********

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

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

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

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

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


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