TCR_Public/100831.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

             Tuesday, August 31, 2010, Vol. 14, No. 241

                            Headlines


ABITIBIBOWATER INC: Gets Court Nod for $1.35 Bil. Exit Financing
ABITIBIBOWATER INC: Reports $297,000,000 Net Loss for 2nd Quarter
ABITIBIBOWATER INC: Settles With Canadian Govt. for C$130MM
ADVANCED HOMECARE: S&P Raises Corporate Credit Rating to 'B+'
AIG BAKER: Court Dismisses Chapter 11 Case

AMBAC FIN'L: Hedge Funds Seek to Stop AAC Dividend Payments
AMELIA ISLAND: Plan of Reorganization Wins Court Approval
AMERICAN APPAREL: Complies Listing on AMEX LLC
AMERICAN MART: Voluntary Chapter 11 Case Summary
AMIDEE CAPITAL: To Conduct Sept. 23 Auction for All Assets

ANF ASBURY: Has Until September 2 to File Chapter 11 Plan
APEX DIGITAL: Taps Levene Neale as Bankruptcy Counsel
ARIZONA HEART: U.S. Trustee Forms Three-Member Creditors Committee
ASARCO LLC: Files June 30 Quarter Post-Confirmation Report
ASARCO LLC: Custodial Trustee Wants Settlement Funds From TCEQ

ASHLAND INC: S&P Affirms Corporate Credit Rating at 'BB+'
ATLANTIS HEALTH: Insolvent by $20MM; Unveils Recapitalization Plan
AUTOBACS STRAUSS: U.S. Trustee Objects to Plan Releases
ATLANTIC JET: Case Summary & 15 Largest Unsecured Creditors
BIOLASE TECHNOLOGY: Mulder Quits as CEO, President & Chairman

BISCAYNE PARK: Gets Final OK to Access Madison's Cash Collateral
BOESER INC: Hearing on Further Cash Collateral Use Set for Today
BRAVO HEALTH: Moody's Affirms 'B1' Ratings on Senior Secured Debt
BRYAN/MOORE DEVELOPMENT: Plan Outline Hearing Set for September 8
CAL INVESTMENTS: Case Converted to Chapter 7 Liquidation

CELEBRITY RESORTS: Still in Talks with Creditors on Plan
CELEBRITY RESORTS: Has Interim Access to Textron Cash Collateral
CENTAUR LLC: Wins Approval to Sell Colorado Casino to Luna
CONSPIRACY ENT: June 30 Balance Sheet Upside Down by $4.67MM
CONSUMER PORTFOLIO: Receives Deficiency Notice From NASDAQ

CRYOPORT INC: Posts $1.33 Million Net Loss in June 30 Quarter
CRYSTAL COAST: Case Summary & 4 Largest Unsecured Creditors
CHARLES RIVER: Moody's Puts Ba1 Rating on Restated Credit Facility
CHEMTURA CORP: Prices Senior Term Loan for $295 Million
CHEMTURA CORP: Signs Deal for $455MM Senior Notes Offering

CHEMTURA CORP: Wins Nod to Amend Rights Offering Procedures
CIRTRAN CORP: Posts $196,600 Net Income in June 30 Quarter
COLLIER LAND: Has Until October 21 to Propose Chapter 11 Plan
CURTIS GORDON, JR.: Case Summary & 17 Largest Unsecured Creditors
DELTA AIR LINES: Commences Tender Offers for Certs. & Notes

DELTA MUTUAL: Posts $198,000 Net Loss for June 30 Quarter
DENNY'S CORP: Names Robert Rodriquez as Chief Operating Officer
DEUCE INVESTMENTS: Postpones Plan Hearing to Resolve Issues
ELITE LANDINGS: Plan Confirmation Hearing Set for September 10
EMMIS COMMUNICATIONS: Extends Exchange Offer to September 2

EMPIRE RESORTS: Names Nanette Horner as Chief Compliance Officer
EPICEPT CORPORATION: Fails to Get FDI Approval on Ceplene
ERNIE JACOBSEN: Gets Additional 90 Days Exclusivity Extension
FGIC CORP: Sept. 30 Deadline to File Proofs of Claim
FRASER PAPERS: Delays Filing of Q2 Financial Statements

FREDDIE MAC: Files July 2010 Monthly Volume Summary
FREDERICK BERG: Schedules $13.4 Million in Assets
FX LUXURY: Plan Outline Hearing Scheduled for September 13
GLENWOOD PROPERTIES: Case Summary & 20 Largest Unsecured Creditors
GREENSHIFT CORP: Posts $2.16 Million Net Loss in June 30 Quarter

HAMBONE DOG: Hearing on Further Cash Collateral Use Set for Today
HAMPTON ROADS: On Track to Return to "Well Capitalized" Status
HEALTHSPRING INC: Moody's Affirms 'Ba3' Rating on Senior Debt
HEALTHSPRING INC: S&P Affirms 'B+' Counterparty Credit Rating
HOLOGIC INC: S&P Withdraws 'BB-' Corporate Credit Rating

HOTELS UNION: W Hotel Owners' Liquidation Plan Confirmed
HYUN UM: Section 341(a) Meeting Scheduled for Sept. 29
HYUN UM: Wants Extension of Filing of Schedules Until Sept. 21
INNOPHOS HOLDINGS: Moody's Raises Corporate Family Rating to 'Ba2'
INTELSAT SA: Says Option Agreements with Managers Amended

JACK WILSON: Case Summary & 6 Largest Unsecured Creditors
JOSEPH WILSON, JR.: Case Summary & 20 Largest Unsecured Creditors
JUNIPER GENERATION: Fitch Affirms 'BB+' Rating on Senior Notes
LAKE LOTAWANA: Chapter 9 Case Summary & Creditors List
LEHMAN BROTHERS: Asks for U.S. Stay of UK Pension Proceedings

LEHMAN BROTHERS: Judge Peck Approves Plan Deal With Innkeepers
LEHMAN BROTHERS: Judge Peck Resumes Trial on Suit Against Barclays
LEHMAN BROTHERS: Reaches Deal With LBI Trustee on Avoidance Suits
LEHMAN BROTHERS: Wins Nod to Guarantee Payment of Lazard Fees
LEXICON UNITED: Posts $13,672 Net Income in June 30 Quarter

LODGENET INTERACTIVE: Par Investment Acquires 4.75MM Shares
LONE TREE: Files for Chapter 11 in Phoenix
MEDCLEAN TECHNOLOGIES: Posts $1.08-Mil. Net Loss in June 30 Qtr.
MEXICANA AIRLINES: American Airlines Assists Affected Customers
MICHAELS STORES: Posts $1 Million Net Loss for July 31 Quarter

MONEYGRAM INT'L: Wells Fargo to Assume as Trustee of 401(k) Plan
MPM TECHNOLOGIES: Posts $378,900 Net Loss in June 30 Quarter
NEW LEAF: Posts $3.43 Million Net Loss in June 30 Quarter
NICKAJACK SHORES: Files for Chapter 11 Bankruptcy Protection
NUTRACEA: Plan Confirmation Hearing Scheduled for October 19

OSHKOSH CORPORATION: Moody's Upgrades Corp. Family Rating to 'Ba3'
PATIENT SAFETY: Marc Rose Steps Down as Chief Financial Officer
PACIFIC AVENUE: Sept. 15 Hearing on Bank Request for Examiner
PATIENT SAFETY: Gets $427,000 Cash Under Tax Escrow Agreement
PROTOSTAR LTD: Seeks Plan Exclusivity Until November 29

R & E INVESTMENTS: Voluntary Chapter 11 Case Summary
RCLC INC: Posts $4.15 Million Net Loss in June 30 Quarter
ROBERT SUNSERI, JR.: Case Summary & 5 Largest Unsecured Creditors
ROTHSTEIN ROSENFELDT: Chapter 11 Trustee Seeks to Probe Retailers
ROYAL HOSPITALITY: Files Schedules of Assets & Liabilities

ROYAL HOSPITALITY: Section 341(a) Meeting Scheduled for Sept. 27
SAINT VINCENTS: St. Joseph's Viable Buyer for Westchester Unit
SEEQPOD, INC: Intertrust Technologies Acquires Assets
SHERWOOD/CLAY: Plan of Reorganization Wins Court Approval
SHERWOOD/CLAY: Can Sell Property to Legg Mason for $17.7 Million

SMITHFIELD FOODS: S&P Affirms Corporate Credit Rating at 'B-'
SOUTH BAY: ORC Wants Lift Stay to Resolve Issues With Insurers
STANT CORP: Plan Outline Hearing Scheduled for October 1
STONERIDGE INC: S&P Gives Stable Outlook, Affirms 'B+' Rating
STRIKEFORCE TECH: Posts $1.54 Million Net Loss in June 30 Quarter

SWIFT CORP: S&P Raises Corporate Credit Rating to 'B-' From 'CCC+'
TELKONET INC: Posts $483,566 Net Income in June 30 Quarter
TELOS CORP: June 30 Balance Sheet Upside-Down by $108 Million
THOMAS PRICE: Section 341(a) Meeting Scheduled for Sept. 29
THOMAS PRICE: Wants Filing of Schedules Extended Until Sept. 21

TRANSAX INT'L: Posts $975,500 Net Loss in June 30 Quarter
TRIPLE DIAMOND: Case Summary & 10 Largest Unsecured Creditors
TRONOX INCORPORATED: Reaches Deal with All Key Creditors on Plan
UNIFI INC: Seeks Stockholder's Okay for 1-for-3 Stock Split
UNIGENE LABORATORIES: Victory Park Holds 9.4% of Shares

UNIGENE LABORATORIES: Director Eiref Zvi Acquires 21,000 Shares
UNIGENE LABORATORIES: Registers 5MM Shares Under 2006 Plan
UNIGENE LABORATORIES: CEO Ashleigh Palmer Acquires 20,000 Shares
UNISYS CORP: Files Prospectus for Resale of 5.24MM Shares
UNIVERSAL BUILDING: Court Okays Auction of Assets

US AEROSPACE: Incurs $1.69 Million Net Loss in June 30 Quarter
US CONCRETE: Inks Purchase Agreement for 9.5% Convertible Notes
US CONCRETE: Wants More Exclusivity Until Plan Consummation
VERASUN ENERGY: Seeks Approval on Union Tank Car $20M Claim
VIP LAND: Case Summary & 8 Largest Unsecured Creditors

VISTEON CORP: Ernst & Young Bills $2.5MM for March-May Work
VISTEON CORP: Seeks Further Expansion of E&Y Services
VISTEON CORP: Wilmington Trust Withdraws Appeal on Plan Deal
VISTEON CORP: Wins Nod for Blackman as Counsel for Plan Process
VONAGE HOLDINGS: June 30 Balance Sheet Upside-Down by $59.5-Mil.

VORNADO REALTY: Reports $57,840 Net Income for June 30 Quarter
WASHINGTON MUTUAL: Equity Committee Members Down to Four
WASHINGTON MUTUAL: Plan Confirmation Hearing to Commence Nov. 1
WASHINGTON MUTUAL: Proposes IRS Tax Settlements
WORKSTREAM INC: Michael Mullarkey Resigns as Exec. Vice President

Z'S INC: Case Summary & 5 Largest Unsecured Creditors

* S&P: 2 Defaults Last Week Raise Global Total at 52 in 2010

* DLA Piper Wants Malpractice Suit Out of Bankruptcy Court

* Fasken Martineau Lawyers Examine CCAA Monitor's Role
* Joel Mostron Joins Alvarez & Marsal's Real Estate Group
* U.S. Attorney Appointed to Bankruptcy Bench

* Large Companies With Insolvent Balance Sheets


                            *********


ABITIBIBOWATER INC: Gets Court Nod for $1.35 Bil. Exit Financing
----------------------------------------------------------------
Judge Kevin Carey of the U.S. Bankruptcy Court for the District of
Delaware granted AbitibiBowater Inc. and its debtor affiliates
permission to obtain up to $1.35 billion in financing to fund
their exit from bankruptcy.

Approximately $750 million of the exit financing will be raised
through a notes offering.  The $600 million portion of the
financing will be raised under a senior secured asset-based credit
facility.

J.P. Morgan Securities Inc., Barclays Capital Inc., and Citigroup
Global Markets, Inc., are contemplated to be the lead managers
under the Notes Offering.

The Debtors said they will pursue entry into a term loan facility
up to an aggregate principal amount of $750 million, in case they
cannot obtain a notes offering on satisfactory terms.  JPMorgan,
Barclays and Citigroup are also contemplated to be the lead
arrangers of a possible term loan facility.

The Debtors clarified that they obtained a commitment letter for
the ABL Facility from certain financial institutions.  They intend
to separately seek authority from the Court on the definitive
documentation of the ABL Facility at the appropriate time.

Citibank will serve as sole and exclusive administrative agent for
the ABL Lenders.  Citigroup, Barclays Capital and JPMorgan
Securities will act as exclusive joint lead arrangers and joint
bookrunners.  Barclays Capital will act as syndication agent.
JPMorgan Securities will act as documentation agent.

Citibank, Barclays Bank and JPMorgan Securities will each commit
to provide $100,000,000 of the ABL financing.

The proceeds of the Notes Offering and the ABL Facility will be
used to fund the Debtors' payables under their restructuring plan
as well as for their working capital and general corporate
purposes.

The Debtors foresee emergence from Chapter 11 in October 2010.

The Debtors are authorized to enter into, execute, deliver and
perform under the Exit Financing Agreements and all related
documents and agreements.

The Debtors are also authorized to cause the formation of the
Delaware LLC and ABI Escrow Corporation for the purpose of issuing
the New Notes and placing the related proceeds into escrow and
granting liens on it, pending consummation of their Chapter 11
Plan.

Moreover, the Court permits the Debtors to incur and pay all of
the fees, expenses and obligations related to the Exit Financing
Agreements.

To protect sensitive and proprietary information, Judge Carey
permits the filing of the fee letters related to the Exit
Financing Agreements under seal.

                     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).


ABITIBIBOWATER INC: Reports $297,000,000 Net Loss for 2nd Quarter
-----------------------------------------------------------------
AbitibiBowater, Inc., reported to the U.S. Securities and
Exchange Commission on August 16, 2010, financial results for the
quarter period ended June 30, 2010.

AbitibiBowater Senior Vice President, Finance and Chief
Accounting Officer Joseph B. Johnson related that the newsprint
industry experienced a slight decrease in North American demand
in the six months of 2010 compared to the same period of 2009.
However, the newsprint market was much improved compared to the
same period of 2009 when North American demand declined 30.5%
compared to the same period of 2008.  North American demand for
coated mechanical papers improved in the first six months of 2010
compared to the same period of 2009.  The specialty papers
industry experienced an increase in North American demand in the
first six months of 2010 compared to the same period of 2009,
particularly for supercalendered high gloss papers.  Global
shipments of market pulp increased slightly in the first six
months of 2010 compared to the same period of 2009, despite a
significant decline in China, which was offset by increases in
North America and Western Europe.

The Company's wood products segment benefited from a significant
increase in pricing in the first six months of 2010 compared to
the same period of 2009.

The Company's sales increased $146 million, or 14.1%, from
$1.036 billion in the second quarter of 2009 to $1.182 billion in
the second quarter of 2010.  The increase was primarily due to
significantly higher transaction prices for market pulp and wood
products, as well as higher shipments for coated papers, specialty
papers and wood products, partially offset by lower transaction
prices for specialty papers.

Selling and administrative costs for the Company increased
$8 million in the second quarter of 2010 compared to the second
quarter of 2009, primarily due to a $16 million reversal in the
second quarter of 2009 of previously recorded Canadian capital tax
liabilities as a result of legislation enacted which eliminated
this tax, partially offset by our continued cost reduction
initiatives, as well as costs incurred in the second quarter of
2009 related to our unsuccessful refinancing efforts.

In the second quarter of 2010 and 2009, AbitibiBowater recorded
$3 million and $240 million, respectively, in closure costs,
impairment and other related charges, which were not associated
with the Company's work towards a comprehensive restructuring
plan.

In the second quarter of 2010 and 2009, the Company also realized
$4 million and $1 million, respectively, in net gains on
disposition of assets, which were not associated with its work
towards a comprehensive restructuring plan.

Net loss attributable to AbitibiBowater Inc. in the second quarter
of 2010 was $297 million, or $5.15 per common share, an
improvement of $213 million, or $3.69 per common share, compared
to $510 million, or $8.84 per common share, in the same period of
2009.  The improvement was primarily due to the improvement in
operating loss as well as an increase in other income, net,
partially offset by an increase in reorganization items, net.

As of June 30, 2010 AbitibiBowater employed approximately
11,200 people, of whom approximately 8,100 were represented by
bargaining units.  The Company's unionized employees are
represented predominantly by the Communications, Energy and
Paperworkers Union in Canada and predominantly by the United
Steelworkers International in the U.S.

As of June 30, 2010, there were 54,704,593 shares of
AbitibiBowater Inc. common stock outstanding.

A full-text copy of AbitibiBowater's 2010 Second Quarter Results
is available on Form 10Q at http://ResearchArchives.com/t/s?6938

                      ABITIBOWATER, INC.
             Unaudited Consolidated Balance Sheet
                     As of June 30, 2010

                            ASSETS

Current Assets:
Cash and cash equivalents                          $708,000,000
Accounts receivable, net                            828,000,000
Inventories, net                                    515,000,000
Assets held for sale                                  9,000,000
Other current assets                                111,000,000
                                                ----------------
Total Current Assets                               2,171,000,000

Fixed assets, net                                  3,402,000,000
Goodwill                                              53,000,000
Amortization intangible assets, net                  462,000,000
Other assets                                         561,000,000
                                                ----------------
Total Assets                                      $6,649,000,000
                                                ================

                   LIABILITIES AND DEFICIT

Liabilities not subject to compromise:
Current Liabilities:
Accounts payable and accrued liabilities           $511,000,000
Debtor-in-possession financing                      206,000,000
Secured borrowings                                  120,000,000
Short-term bank debt                                680,000,000
Current portion of long-term debt                   300,000,000
Liabilities associated with assets
held for sale                                         3,000,000
                                                ----------------
Total Current Liabilities                          1,820,000,000

Long-term debt, net of current portion               273,000,000
Pension & other postretirement projected
benefit obligations                                  96,000,000
Other long-term benefits                              87,000,000
Deferred income taxes                                 96,000,000
                                                ----------------
Total Liabilities Not Subject to Compromise        2,372,000,000

Liabilities Subject to Compromise                  7,065,000,000
                                                ----------------
Total Liabilities                                  9,437,000,000

Commitments and Contingencies
Deficit:
AbitibiBowater, Inc. shareholders' deficit:
Common stock, $1 par value, 54.7 shares
outstanding as of March 31, 2010                     55,000,000
Exchangeable shares at no par value, 3.0 shares
outstanding as of March 31, 2010                    173,000,000
Additional paid-in capital                        2,525,000,000
Deficit                                          (5,188,000,000)
Accumulated other comprehensive loss               (466,000,000)
                                                ----------------
Total AbitibiBowater Inc.
shareholders' deficit                            (2,901,000,000)

Non-controlling interests                           113,000,000
                                                ----------------
Total Deficit                                     (2,788,000,000)
                                                ----------------
Total Liabilities and Deficit                     $6,649,000,000
                                                ================

                     ABITIBIBOWATER, INC.
       Unaudited Consolidated Statements of Operations
               Three Months Ended June 30, 2010

Sales                                             $1,182,000,000

Cost and expenses:
Cost of sales                                       951,000,000
Depreciation, amortization
and cost of timber                                  125,000,000
Distribution costs                                  141,000,000
Selling and admin. expenses                          39,000,000
Closure costs, impairment & other charges             3,000,000
Net gain on disposition of assets                    (4,000,000)
                                                ----------------
Operating loss                                       (73,000,000)
Interest expense                                    (129,000,000)
Other expense, net                                    41,000,000
                                                ----------------
Loss before reorganization items
& income taxes                                     (161,000,000)
Reorganization items, net                           (148,000,000)
                                                ----------------
Loss before income taxes                            (309,000,000)
Income tax benefit                                     9,000,000
                                                ----------------
Net loss including non-controlling interests        (300,000,000)
Net loss (income) attributable
to non-controlling interests                          3,000,000
                                                ----------------
Net loss attributable to AbitibiBowater Inc.       ($297,000,000)
                                                ================

                     ABITIBIBOWATER, INC.
        Unaudited Consolidated Statements of Cash Flow
              Three Months Ended June 30, 2010

Cash Flows from Operating Activities:
Net loss including non-controlling interests       ($806,000,000)
Adjustments to reconcile net (loss) to net cash
(used in) provided by operating activities:
Share-based compensation                              3,000,000
Depreciation, amortization and cost of timber       257,000,000
Closure costs, impairment and other charges           8,000,000
Deferred income taxes                                (7,000,000)
Net pension expense (contributions)                   6,000,000
Net gain on disposition of assets                   (13,000,000)
Amortization of debt discount (premium), net          8,000,000
Loss (gain) on translation of
foreign currency debt                                (5,000,000)
Non-cash reorganization items, net                  306,000,000
Changes in working capital:
Accounts receivable                                 (56,000,000)
Inventories                                          32,000,000
Other current assets                                 25,000,000
Accounts payable & accrued liabilities              199,000,000
Other, net                                            35,000,000
                                                ----------------
Net cash (used in) provided by
operating activities                                 (3,000,000)

Cash Flows from Investing Activities:
Cash invested in fixed assets                       (26,000,000)
Dispositions of assets                               62,000,000
Increase in restricted cash                         (55,000,000)
Decrease in deposit requirements for L/C, net                 -
                                                ----------------
Net cash provided by (used in)
investing activities                                (19,000,000)

Cash Flows from Financing Activities:
Decrease in secured borrowings, net                 (21,000,000)
Cash dividends, including non-controlling
interest                                                      -
Debtor in possession financing costs                 (5,000,000)
Short-term financing, net                                     -
Payments of long-term debt                                    -
Payments of financing & bank credit
facility fees                                                 -
                                                ----------------
Net cash provided by (used in)
financing activities                                (26,000,000)
                                                ----------------
Net (decrease) in cash & cash equivalents            (48,000,000)

Cash & cash equivalents:
Beginning of period                                 756,000,000
                                                ----------------
End of period                                      $708,000,000
                                                ================

                     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).


ABITIBIBOWATER INC: Settles With Canadian Govt. for C$130MM
-----------------------------------------------------------
AbitibiBowater Inc. announced 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.  The Government of
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 agreement, AbitibiBowater will waive its
legal actions and claims against the Government of Canada under
the North American Free Trade Agreement (NAFTA).

A full-text copy of the ABH-Canadian Gov't. Settlement is
available for free at:

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

"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 in a public statement.  "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 agreement 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.

              Canadian Foreign Affairs' Statement

In relation to AbitibiBowater's settlement with the Canadian
Government, Canada's Foreign Affairs and International Trade
Department issued this statement:

    "The Government of Canada and AbitibiBowater have reached an
    agreement regarding the expropriation of assets in
    Newfoundland and Labrador.

    "The Government of Canada has agreed to make a payment of
    $130 million to AbitibiBowater upon the company's
    restructuring.  This payment represents the fair market
    value of the company's expropriated assets.

    "AbitibiBowater has agreed to irrevocably and permanently
    withdraw its claim against Canada.

    "The Government of Canada has resolved this dispute for the
    benefit of Canada's long-term economic interests.  In
    reaching this agreement, the Government of Canada is
    avoiding potentially long and costly legal proceedings.

    "This approach reaffirms the Government of Canada's
    commitment to maintaining a rules-based business environment
    that facilitates free trade and encourages investment.

    "The Government of Canada is moving forward on an ambitious
    free trade and investment agenda -- a cornerstone of Canada's
    strong economic position and future growth.  The government
    will continue to stand up for Canadian businesses at home
    and abroad by securing greater access to the North American
    marketplace."

                     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).


ADVANCED HOMECARE: S&P Raises Corporate Credit Rating to 'B+'
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it raised its
corporate credit rating on Advanced Homecare Holdings Inc. to 'B+'
from 'B' because of the company's ability to deleverage through
continued EBITDA growth.  S&P revised its rating outlook to stable
from positive.  At the same time, S&P raised its issue-level
ratings on the first-lien senior secured loan and revolving credit
facility to 'BB' from 'BB-' and the issue-level rating on the
second-lien senior secured loan to 'B-' from 'CCC+'.

"The speculative grade rating on Advanced Homecare Holdings Inc.
(AHH, d/b/a Encompass Home Health Inc.) reflects its operating
concentration in the highly competitive home health care industry,
its vulnerability to a decline in government reimbursement and
significant financial risk profile," said Standard & Poor's credit
analyst Tahira Wright.

Aided by continued acquisitions and economies of scale, AHH
experienced revenue growth of about 25% in the past year, and S&P
expects double-digit growth in 2010.  However, AHH remains a small
player in the competitive home health care field, focusing on
serving the elderly population through 63 locations, largely in
Texas and Oklahoma.  The company's vulnerable risk profile weighs
heavily on S&P's view of reimbursement risk as a persistent threat
to the business.

The home health care industry remains highly vulnerable to
reductions in Medicare reimbursement, about 90% of AHH's total
payor mix.  This susceptibility has been somewhat accelerated by
enhanced government scrutiny of the industry.  In particular,
recent proposals in the 2011 Centers for Medicare and Medicaid
Services rulings recommend a variety of adjustments to how home
healthcare is reimbursed and coded.  This ruling supplements the
2010 health reform legislation, which included revisions to
reimbursement over the next few years, leading to greater
uncertainty about how rates will be re-based starting in 2014.
The changes will result in a net 4.6% Medicare rate reduction for
AHH in 2011.  However, AHH's current strong operating margins (the
result of its focus on high-acuity patients and concentration in
its local markets, allowing economies of scale) should provide
some headroom over future rate cuts.  S&P expects that, after the
reduction in reimbursement, AHH will still eke out single-digit
revenue growth in 2011, more conservative than present and
historical trends.


AIG BAKER: Court Dismisses Chapter 11 Case
------------------------------------------
The Hon. Tamara O. Mitchell of the U.S. Bankruptcy Court for the
Northern District of Alabama dismissed the Chapter 11 case of AIG
Baker Vestavia, L.L.C.  According to the Court's order the Debtor
and key parties have completed all actions necessary to effectuate
the provisions of their settlement agreement dated August 12,
2010.

Birmingham, Alabama-based AIG Baker Vestavia, L.L.C., filed for
Chapter 11 bankruptcy protection on April 26, 2010 (Bankr. N.D.
Ala. Case No. 10-02600).  Lee R. Benton, Esq., at Benton &
Centeno, LLP, assisted the Debtor in its restructuring effort.
The Company estimated its assets and debts at $10 million to
$50 million.

The Debtor's affiliate, AIG Baker Deptford, LLC, filed a separate
Chapter 11 petition on April 1, 2010 (Bankr. N.D. Ala. Case No.
10-02059).


AMBAC FIN'L: Hedge Funds Seek to Stop AAC Dividend Payments
-----------------------------------------------------------
The Wall Street Journal's Serena Ng and Dow Jones Newswires'
Aparajita Saha-Bubna report that a group of hedge funds and
investment firms that hold debt insured by a business of Ambac
Financial Group Inc. sought in court Monday to stop cash from
flowing out of the bond insurer to its parent.

The plaintiffs -- including Aurelius Capital Management LP, Fir
Tree Inc., King Street Capital LP, Monarch Alternative Capital LP
and Stonehill Capital Management LLC -- hold more than $1 billion
in mortgage securities or other debt insured by Ambac Assurance
Corp., the main operating business of Ambac Financial, they said
in a statement.

According to the report, the funds filed a motion in a state court
in Wisconsin seeking to clarify they had a right to sue Ambac
Financial to stop it from receiving cash dividends and other
transfers from Ambac Assurance while policy holders that have
claims on Ambac-insured securities haven't been paid in full.

The report also notes the funds alleged that about $230 million in
past dividend payments from Ambac Assurance to its parent in 2008
and 2009 were "fraudulent" transfers because they took place at a
time when the bond insurer's financial condition was rapidly
deteriorating.  They are seeking to recover that money for all
policy holders.

The report says an Ambac spokeswoman couldn't be immediately
reached for comment.

                       About Ambac Assurance

Ambac Assurance Corporation is the principal operating subsidiary
of Ambac Financial Group, Inc.

In March 2010, the Office of the Commissioner of Insurance of the
State of Wisconsin commenced rehabilitation proceedings with
respect to $35 billion in policies written by Ambac Assurance.
Those policies primarily cover principal and interest payments on
souring mortgage securities.  The regulator also negotiated a
potential settlement to roughly $17 billion in contracts on
complex financial products with a group of banks.  The products --
collateralized-debt obligations -- are pools of securities that
have sharply deteriorated in value.

                       About Ambac Financial

Headquartered in New York, Ambac Financial Group, Inc., through
its subsidiaries, provided financial guarantees and financial
services to clients in both the public and private sectors around
the world.

KPMG LLP, in New York, expressed substantial doubt about the
Company's ability to continue as a going concern, following the
Company's 2009 financial results.  The independent auditors noted
of the significant deterioration of Ambac's guaranteed portfolio
coupled with the inability to write new financial guarantees has
adversely impacted the business, results of operations and
financial condition of the Company's operating subsidiary.  KPMG
also noted of the Company's limited liquidity.

Ambac Financial noted in its Form 10-Q for the quarter ended
June 30, 2010 that its liquidity and solvency are largely
dependent on dividends principal financial guarantee operating
subsidiary, Ambac Assurance Corporation, and on the value of the
subsidiary.  Ambac Financial said that Ambac Assurance is "highly
unlikely" to be able to make dividend payments to Ambac for the
foreseeable future.  Ambac Financial said it is currently pursuing
raising additional capital and is also pursuing a restructuring of
its outstanding debt through a prepackaged bankruptcy proceeding.

The Company's balance sheet at June 30, 2010, showed
$30.05 billion in total assets, $31.47 billion in total
liabilities, and $1.42 billion in total stockholders' deficit.

Ambac once boasted top triple-A credit ratings.  In November 2009,
Ambac warned it could have problems paying off debt that comes due
in 2011.  Before the financial crisis, Ambac was the second-
biggest bond insurer behind MBIA Inc.


AMELIA ISLAND: Plan of Reorganization Wins Court Approval
---------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida
confirmed Amelia Island Plantation's Plan of Reorganization.

As reported in the Troubled Company Reporter on August 26, 2010,
Omni Hotels & Resorts won an auction for the Amelia Island resort
in Florida.  Omni agreed to pay $67.1 million, which is contingent
on the Amelia Island Company's Chapter 11 bankruptcy
reorganization plan.

According to the Disclosure Statement, the sale of substantially
all of the Debtor's assets will pay off administrative claims,
priority claims, secured claims and unsecured claims.  The Plan
further provides for the creation of an equity club owned by the
members.

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

The special counsel for the Debtor is:

     Gardner F. Davis, Esq.
     Emerson M. Lotzia, Esq.
     FOLEY & LARDNER LLP
     One Independent Drive, Suite 1300
     Jacksonville, FL 32202
     Tel: (904) 359-2000
     Fax: (904) 359-8700

The attorneys for the Debtor are:

     Richard R. Thames, Esq.
     Eric N. McKay, Esq.
     STUTSMAN THAMES & MARKEY, P.A.
     50 North Laura Street, Suite 1600
     Jacksonville, FL 32202
     Tel: (904) 358-4000
     Fax: (904) 358-4001

                  About Amelia Island Plantation

Amelia Island Plantation owns 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 Debtor estimated assets and debts in
excess of $50 million in its Chapter 11 petition.


AMERICAN APPAREL: Complies Listing on AMEX LLC
----------------------------------------------
American Apparel Inc. received a letter from the NYSE Amex LLC
stating that the Company's timely filing of its Quarterly Report
on Form 10-Q for the quarter ended June 30, 2010, is a condition
for the company's continued listing on the Exchange.  The company
had submitted a plan of compliance on June 1, 2010 to the
Exchange.

                      About American Apparel

American Apparel, Inc. (NYSE Amex: APP) --
http://www.americanapparel.com/-- is a vertically integrated
manufacturer, distributor, and retailer of branded fashion basic
apparel based in downtown Los Angeles, California.  As of
August 15, 2010, American Apparel employed approximately 10,000
people and operated over 280 retail stores in 20 countries,
including the United States, Canada, Mexico, Brazil, United
Kingdom, Ireland, Austria, Belgium, France, Germany, Italy, the
Netherlands, Spain, Sweden, Switzerland, Israel, Australia, Japan,
South Korea, and China.  American Apparel also operates a leading
wholesale business that supplies high quality T-shirts and other
casual wear to distributors and screen printers.

The Company's balance sheet as of March 31, 2010, showed
$295.74 million in total assets, $180.40 million in total
liabilities, and stockholders' equity of $115.34 million.

               Anticipated Covenant Non-Compliance

On June 23, 2010, the Company entered into an amendment of its
credit agreement with its second lien lender.  The Company expects
that as of June 30, 2010, based on the preliminary financial
results for the second quarter, it was in compliance with all
covenants under the second lien credit agreement.  However, based
on the Company's preliminary financial results for the second
quarter ended June 30, 2010, and trends occurring in the Company's
business after the second quarter and projected for the remainder
of 2010, the Company believes that it is probable that as of
September 30, 2010, the Company will not be in compliance with the
minimum Consolidated EBITDA covenant under the second lien credit
agreement.


AMERICAN MART: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: American Mart Hotel Corporation
          dba Comfort Inn of Denver
        555 Republic Drive, Suite 490
        Plano, TX 75074

Bankruptcy Case No.: 10-42846

Chapter 11 Petition Date: August 26, 2010

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

Judge: Brenda T. Rhoades

Debtor's Counsel: John P. Lewis, Jr., Esq.
                  1412 Main Street, Suite 210
                  Dallas, TX 75202
                  Tel: (214) 742-5925
                  Fax: (214) 742-5928
                  E-mail: jplewisjr@mindspring.com

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

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

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

The petition was signed by Craig E. Landess, vice president.


AMIDEE CAPITAL: To Conduct Sept. 23 Auction for All Assets
----------------------------------------------------------
The Hon. Richard S. Schmidt of the U.S. Bankruptcy Court for the
Southern District of Texas authorized Amidee Capital Group, Inc.,
et al., to conduct an auction for substantially all of its assets.

Secured lenders Lone Star Bank and Sterling Bank are entitled to
exercise their respective credit bid rights to any assets which
are the subject of any indebtedness owed by any of the Debtors to
either Sterling or Lone Star.

The Debtors will conduct an auction on September 23, 2010, at 9:00
a.m. (Central Time) at the offices of Sterling's counsel:

     WINSTEAD PC
     1100 JP Morgan Tower
     600 Travis St.
     Houston, TX

Qualified bids are due 5:00 p.m. on September 17.

More information on submission of qualified bids can be obtained
from Sara Mya Keith (skeith@oakllp.com) at 1113 Vine St., Suite
201, Houston, Texas.

The Court will convene a hearing on October 4, at 2:00 p.m.
(Central Time), to consider approval of the sale of the assets to
the successful bidder.  Objections, if any, are due on September
27.

                       About Amidee Capital

Houston, Texas-based Amidee Capital Group, Inc., is a Texas
corporation formed in 2003 to acquire, renovate, operate and
resell real property.

Amidee Capital filed for Chapter 11 bankruptcy protection on
January 17, 2010 (Bankr. S.D. Tex. Case No. 10-20041).  Amidee
Capital estimated $10 million to $50 million in assets and debts
in its Chapter 11 petition.  The Company's affiliates -- Amidee
2006 Preferred Real Estate Income Program, Ltd., et al. -- filed
separate Chapter 11 petitions.  Matthew Scott Okin, Esq., at Okin
Adams & Kilmer LLP, represents the Debtors in their Chapter 11
effort.


ANF ASBURY: Has Until September 2 to File Chapter 11 Plan
---------------------------------------------------------
The Hon. Theodor C. Albert of the U.S. Bankruptcy Court for the
Central District of California directed ANF Asbury Park, LLC, to
file its proposed Chapter 11 Plan by September 2, 2010.

Irvine, California-based ANF Asbury Park, LLC, filed for Chapter
11 bankruptcy protection on March 5, 2010 (Bankr. C.D. Calif. Case
No. 10-12819).  The Company estimated assets and debts at
$10 million to $50 million in its Chapter 11 petition.  Michael G.
Spector, Esq., in Santa, California, represents the Debtor in its
restructuring effort.


APEX DIGITAL: Taps Levene Neale as Bankruptcy Counsel
-----------------------------------------------------
Apex Digital, Inc., asks for authorization from the U.S.
Bankruptcy Court for the Central District of California to employ
Levene, Neale, Bender, Yoo & Brill L.L.P., as bankruptcy counsel,
effective as of August 17, 2010.

LNBYB will, among other things:

     a. represent the Debtor in any proceeding or hearing in the
        Court involving its estate unless the Debtor is
        represented in the proceeding or hearing by other special
        counsel;

     b. conduct examinations of witnesses, claimants or adverse
        parties and representing the Debtor in any adversary
        proceeding except to the extent that any such adversary
        proceeding is in an area outside of LNBYB's expertise or
        which is beyond LNBYB's staffing capabilities;

     c. prepare and assist the Debtor in the preparation of
        reports, applications, pleadings and orders including, but
        not limited to, applications to employ professionals,
        interim statements and operating reports, initial filing
        requirements, schedules and statement of financial
        affairs, lease pleadings, cash collateral pleadings,
        financing pleadings, and pleadings with respect to the
        Debtor's use, sale or lease of property outside the
        ordinary course of business; and

     d. represent the Debtor with regard to obtaining use of
        debtor in possession financing and cash collateral
        including, but not limited to, negotiating and seeking
        Court approval of any debtor in possession financing
        and/or cash collateral pleading or stipulation and
        preparing any pleadings relating to obtaining use of
        debtor in possession financing and cash collateral.

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

        David W. Levene                         $585
        David L. Neale                          $585
        Ron Bender                              $585
        Martin J. Brill                         $585
        Edward M. Wolkowitz                     $585
        Timothy J. Yoo                          $585
        David B. Golubchik                      $540
        Monica Y. Kim                           $540
        Beth Ann R. Young                       $540
        Daniel H. Reiss                         $540
        Irving M. Gross                         $540
        Philip A. Gasteier                      $540
        Jacqueline L. Rodriguez                 $485
        Juliet Y. Oh                            $485
        Michelle S. Grimberg                    $485
        Todd M. Arnold                           $485
        Todd A. Frealy                           $485
        Anthony A. Friedman                      $415
        Carmela T. Pagay                         $415
        John-Patrick M. Fritz                    $335
        Krikor J. Meshefejian                    $335
        Lindsey L. Smith                         $225

        Paraprofessionals                        $195

Juliet Y. Oh, Esq., at Levene Neale, assures the Court that the
firm is "disinterested" as that term is defined in Section 101(14)
of the Bankruptcy Code.

                        About Apex Digital

Walnut, California-based Apex Digital, Inc. -- aka AW XEPA
Technologies Inc., AW Apex R&D Shangai, AW Apex, AW E2Go, AW
Entertainment to Go -- is a privately held company that provides
and markets consumer electronics, including high-definition LCD
televisions, home entertainment media devices, solar powered
lights and digital set top boxes.

Apex Digital filed for Chapter 11 protection on August 17, 2010
(Bankr. C.D. Calif. Case No. 10-44406).  The Debtor estimated its
assets and debts at $10 million to $50 million as of the Petition
Date.


ARIZONA HEART: U.S. Trustee Forms Three-Member Creditors Committee
------------------------------------------------------------------
Ilene J. Lashinsky, the U.S. Trustee for Region 14, appointed
three members to the official committee of unsecured creditors in
the Chapter 11 case of Arizona Heart Institute, Ltd.

The Creditors Committee members are:

1. GE Healthcare
   Attn: Douglas Dietzen
   4855 W. Electric Ave East
   Milwaukee, WI 53219-1629
   Tel: (414) 647-4338
   Fax: (262) 546-0749

2. Premier Cardiovascular Consultants PLC
   Attn: Dr. Asha Solsi
   725 S. Dobson Road, No. 100
   Chandler, AZ 85224
   Tel: (480) 628-1272
   Fax: (480) 814-0036

3. Teletrak MT Inc.
   Attn: Kavita Wadhwani
   15 W. Putnam, No. B
   Porterville, CA 93257
   Tel: (559) 781-0581
   Fax: (559) 783-0733

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at the Debtor's
expense.  They may investigate the Debtor's business and financial
affairs.  Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.  Those
committees will also attempt to negotiate the terms of a
consensual Chapter 11 plan -- almost always subject to the terms
of strict confidentiality agreements with the Debtors and other
core parties-in-interest.  If negotiations break down, the
Committee may ask the Bankruptcy Court to replace management with
an independent trustee.  If the Committee concludes reorganization
of the Debtor is impossible, the Committee will urge the
Bankruptcy Court to convert the Chapter 11 cases to a liquidation
proceeding.

                        About Arizona 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.


ASARCO LLC: Files June 30 Quarter Post-Confirmation Report
----------------------------------------------------------
Mark A. Roberts of Alvarez and Marsal North America, LLC, as plan
administrator, prepared a post-confirmation report for the period
from April 1 to June 30, 2010, for ASARCO LLC and its affiliates.

On December 9, 2009, when the Chapter 11 Plan for the ASARCO LLC
Debtors was declared effective, the Plan Administrator received
funds, totaling $3,633,127,834, which were intended to pay for
allowed claim amounts and reserved for unresolved claims.

The Plan Administrator prepared tables on a summary of plan
distributions and administrative expenses incurred by the
Debtors.

                       ASARCO LLC, et al.
                    Post-Confirmation Report
                For Quarter Ended June 30, 2010

                             Current                   Balance
                             Quarter    Paid to Date     Due
                          ------------  -------------  -------
Plan Admin. Fees & Expenses
---------------------------
Plan Admin. Compensation      $205,833     $1,090,696        -
Legal Fees                   1,165,798      1,319,460        -
Other Professional Fees      1,024,389      1,024,389        -
All Other Expenses                   -         53,386        -

Distributions
-------------
Admin. Expenses:
Debtor Prof. Fees            2,153,222     12,494,214        -
Non-Professional Fees                -    302,891,378        -
Secured Creditors                    -        238,416        -
Priority Creditors                   -        900,948        -
Unsecured Creditors          5,538,453  3,070,443,626        -
Equity Security Holders              -              -        -
Other Payments/Transfers    61,780,917    133,295,535        -
                          -------------    -------------  -----
Total Plan Payments         $71,868,611   $3,523,752,048      -
                          =============    =============  =====

                       ASARCO LLC, et al.
                    Post-Confirmation Report
                For Quarter Ended June 30, 2010

                                    Current     Paid to  Balance
Debtor Professional Fees             Quarter       Date     Due
------------------------           ----------  ---------- -------
AlixPartners LLP                     $198,759    $835,748       -
Anderson Kill & Olick, PC Op Acct     206,329     770,434       -
Baker Botts LLP                             -   1,097,117       -
Ballard Spahr, LLP                          -       1,205       -
Barclays Capital Inc.                       -   5,417,409       -
Bates White, LLC                            -      85,458       -
Casecentral, Inc.                           -      17,178       -
Charter Oak Financial Consultants      44,466     140,597       -
Colvin Chaney Saenz & Rodriguez LLP         -          85       -
Creta Law Firm                              -      23,397       -
Elias, Meginnes, Riffle & Seghetti          -       1,125       -
Encore                                      -       3,181       -
Equivalent Data                             -       1,474       -
Eric L. Hiser, PLC                          -       1,687       -
Exponent, Inc.                              -       9,979       -
Fennemore Craig                           138     193,606       -
Friday, Eldredge & Clark, LLP               -         727       -
FTI Consulting, Inc.                1,240,000   1,570,045       -
Fulbright & Jaworski L.L.P.                 -      14,525       -
George A. Tsiolis                           -      29,114       -
Gibson, Dunn & Crutcher LLP           106,870     106,870       -
Gnarus Advisors                             -      10,073       -
Goodstein Law Group PLLC                    -       2,202       -
Grant Thornton LLP                    199,967     256,830       -
Hanna Brophy MacLean McAleer                -         767       -
Hawley Troxell                              -         983       -
Herold Law Operating Account                -      51,143       -
Intralinks Operating Account                -      12,089       -
Jennings, Strouss & Salmon, PLC             -      26,235       -
Jordan, Hyden, Womble & Culbreth            -     247,610       -
Keegan Linscott & Kenon                     -     137,666       -
Kramer Rayson LLP                       1,530      12,623       -
Law Office Of Robert C. Pate                -      26,202       -
Legal Analysis Systems Inc.                 -       8,132       -
Little Pedersen Fankhauser                  -          36       -
Merrill Communications                      -      26,836       -
Mooney, Wright & Moore, PLLC                -       9,997       -
Oppenheimer, Blend, Harrison & Tate         -     130,180       -
Patton Boggs LLP                       32,266      43,041       -
Poore, Roth & Robinson, P.C.              170         170       -
Porter & Hedges, L.L.P.                43,849      43,849       -
Porzio Bromberg & Newman PC             2,435      64,853       -
Quarles & Brady Streich Lang                -      89,656       -
Reed Smith LLP                         63,292     269,948       -
Stone Pigmann Regular Checking              -       1,081       -
Stutzman, Bromberg, Esserman & Plifka       -     673,916       -
The Claro Group, LLC                        -       7,087       -
The Rangel Law Firm, PC                     -       6,903       -
W D Hilton Jr.                         13,150      13,150       -
                                   ----------  ---------- -------
    Total                          $2,153,222 $12,494,214       -
                                   ==========  ========== =======

The Post-Confirmation Report was delivered to the Court on
August 2, 2010.

                          About Asarco LLC

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

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

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

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


ASARCO LLC: Custodial Trustee Wants Settlement Funds From TCEQ
--------------------------------------------------------------
Project Navigator Ltd., the Custodial Trustee of the Texas
Custodial Trust, asks U.S. Bankruptcy Judge Richard Schmidt for an
order instructing the Texas Commission on Environmental Quality to
transfer funds received from a settlement of its claim for
remediation of residential properties with ASARCO LLC to the
Trust's account.

Mary W. Koks, Esq., at Munsch Hardt Kopf & Harr, P.C., in
Houston, Texas -- mkoks@munsch.com -- relates that the U.S.
Environmental Protection Agency and the TCEQ filed proofs of
claim in the Debtors' bankruptcy cases for remediation of
residential properties in neighborhoods immediately adjacent to
ASARCO's El Paso Smelting facility.

Pursuant to a settlement of those claims, the TCEQ was awarded
$493,289, which is based on 10% of the EPA's approved settlement.

Ms. Koks asserts that the funds from the settlement with ASARCO
are earmarked for remediation of ASARCO's smelting facilities in
El Paso and Amarillo, in Texas.  Thus, she says, the funds should
be transferred by the TCEQ into the Custodial Trust Account.

                          About Asarco LLC

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

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

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

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


ASHLAND INC: S&P Affirms Corporate Credit Rating at 'BB+'
---------------------------------------------------------
Standard & Poor's Ratings Services affirmed all its ratings,
including its 'BB+' corporate credit rating, on Ashland Inc. and
its subsidiary, and revised the outlook to positive from stable.

The ratings on Covington, Ky.-based Ashland Inc. reflect its
satisfactory business risk profile and still-significant financial
risk profile despite substantial debt reduction and earnings
improvement since it acquired Hercules Inc. in November 2008.
"The outlook revision to positive indicates that S&P believes
operating results should continue to strengthen based on the
company's business plans and gradual global economic recovery,"
said Standard & Poor's credit analyst Cynthia Werneth.
"Furthermore, S&P believes management will manage its growth
objectives, including potential acquisitions, with a view to
maintaining credit quality, potentially supporting a somewhat
higher rating."

Ashland is a diversified chemicals company with leading positions
in water-soluble polymers, water treatment chemicals, and
chemicals used in paper production.  In addition, as owner of the
Valvoline brand, it is among the leading suppliers of automotive
lubricants and runs the second-largest quick-lube franchise in the
U.S.  The company also manufactures composites and adhesives and
has a sizable chemicals distribution business.  The Hercules
acquisition furthered Ashland's strategy to focus more on
specialty chemicals and provided enhanced scale in certain
businesses.  In addition, operating cost reductions and
management's focus on price management have led to significant
margin improvement.  Operating margins (before depreciation and
amortization) for the manufacturing operations (excluding the
lower-margin distribution business) are now in the midteens
percentage area, with prospects of moving higher as certain
businesses, notably performance materials, recover from the
recession.  There should also be profit improvement opportunities
in water technologies and distribution.  However, rising raw
material costs can periodically result in moderate margin
compression until higher costs can be passed on to customers.

S&P could raise the ratings within the next few quarters if the
company can maintain FFO to debt of 30%.  S&P's base case assumes
that operating results will continue to strengthen as global
economic conditions support demand growth for the company's
products, and the company maintains its focus on price and cost
discipline.  S&P's base case also assumes that the company will
undertake moderate-sized acquisitions to fill out certain product
lines and extend its geographic reach.  However, a larger
acquisition, if debt-financed, could weaken credit metrics, and
depending on the size, could cause us to affirm or lower the
ratings.


ATLANTIS HEALTH: Insolvent by $20MM; Unveils Recapitalization Plan
------------------------------------------------------------------
Crain's New York Business reports that Atlantis Health Plan is
insolvent by nearly $20 million, according to the state Department
of Insurance.  Crain's says Atlantis is negotiating with DOI and
an unnamed private investor on terms for injecting $12 million
into the company.  DOI is giving Atlantis 60 days from Sept. 1 to
work out terms.  "We're trying to work with the investor on
infusing money and keeping Atlantis going through a difficult
process," says a DOI spokesman, according to Crain's.

Atlantis Health Plan said Friday it has been working diligently
over the past several months on a recapitalization effort intended
to return the company to solid financial footing.  Atlantis said
it has entered into a Letter of Intent with an outside investor
for a significant capital infusion.  The parties are negotiating
definitive agreements.  The recapitalization is currently slated
to close on or about November 1, 2010, contingent on certain
closing conditions and subject to approval by the New York
regulatory authorities.

According to the Company's statement, the planned recapitalization
is part of an overall financial restructuring effort for Atlantis.
As a part of its restructuring initiative, Atlantis will be
working with its healthcare providers and other vendors in an
effort to satisfy current obligations.  Communications directly to
healthcare providers will commence shortly about the restructuring
plan and the satisfaction of obligations.

Atlantis said, "the economic environment has been difficult for
our small business clients and their employees.  Federal and local
health insurance `reform' initiatives have not been helpful and in
fact have been hurtful to the small businesses community.
Unfortunately, Atlantis has not been immune to these difficult
economic conditions. However, Atlantis is encouraged to be on the
doorstep of a restructuring and recapitalization program that will
enhance Atlantis's ability to support the small business community
and their healthcare needs.  The recapitalization will allow
Atlantis to emerge from its financial difficulties and move
forward more successfully as a core health care provider in the
New York community.

"Atlantis's management team remains positive about the future of
their business model and their ability to provide cost-effective
health insurance to its clients.  The planned restructuring and
recapitalization will ensure that Atlantis is a viable and vibrant
company well into the future.  Our founding physicians remain
dedicated to providing affordable health insurance to small
businesses and the working uninsured through the NY State Healthy
New York program.  The physician founders of Atlantis thank our
members, providers, brokers and business partners for their
understanding and patience during this time.  Atlantis will
continue to provide excellent service to our members and seek to
reassure our business partners, the provider community and the
brokerage community during this transition to a better and
healthier Atlantis."

According to Crain's New York, Atlantis' niche is low-cost
insurance for New York small businesses, including a sizable
enrollment in Healthy New York.  If the restructuring fails,
Atlantis' closure would send 25,000 people to seek coverage from
other insurers.

According to Crain's, to shave liabilities, Atlantis and the
investor will ask doctors and hospitals to negotiate claims.
"It's up to the providers if they want to take a lesser amount,"
says a DOI spokesman, according to Crain's.  "But providers are
under no obligation to accept a haircut on their claims."

Crain's reports that hospitals complain Atlantis is saying
regulators will not permit it to pay claims right now.  DOI says
that is untrue; the plan is not in liquidation.

According to Crain's, Atlantis' health has deteriorated sharply
since December 2009, when it was operating with a $2.7 million
deficit in its statutory reserves.  According to Crain's, Atlantis
Chief Operating Officer Thomas Dwyer said that "federal and local
health insurance reform initiatives have not been helpful and in
fact have been hurtful to the small business community.
Unfortunately, Atlantis has not been immune to these difficult
economic conditions."

The recapitalization, Mr. Dwyer added, "will allow Atlantis to
emerge from its financial difficulties and move forward more
successfully."

                    About Atlantis Health Plan

New York-based Atlantis Health Plan -- http://www.atlantishp.com/
-- is a doctor-owned managed care plan and a wholly owned
subsidiary of Atlantis Health Systems.  AHS is a privately owned
New York Corporation.


AUTOBACS STRAUSS: U.S. Trustee Objects to Plan Releases
-------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the U.S. Trustee in Delaware is objecting to some of
the releases and limitations on liability contained in the
proposed Chapter 11 plan for Autobacs Strauss Inc.

According to Mr. Rochelle, the U.S. Trustee objects to how the
Plan would immunize the trustees of two plan trusts from liability
for everything except gross negligence or willful misconduct.  The
U.S. Trustee also doesn't like bonuses being given in the Plan to
the chief executive and opposes blanket releases for present and
former shareholders, officers, directors, employees, and advisers.

U.S. Bankruptcy Judge Christopher Sontchi will convene a hearing
to consider confirmation of the Plan on September 15.

Mr. Rochelle relates that under the Plan, unsecured creditors
in two classes with some $18.7 million in claims are predicted
to have a 45% recovery by receiving all the new stock plus an
$8.5 million note, assuming total victory in a lawsuit against
parent Autobacs Seven Co., and its $44 million claim.  If the
fight with Autobacs ends in failure, the draft disclosure
statement tells unsecured creditors they should see less than 14%
plus the new stock.  Confirmation of the Plan is conditioned on
approval of an employment agreement with Chief Executive Officer
Glenn Langsberg.

The Plan needs $10 million in exit financing.

                      About Autobacs Strauss

Headquartered in South River, New Jersey, Autobacs Strauss Inc. --
http://www.straussauto.com/-- sells after-market automotive parts
and accessories, and operate automotive service centers located in
New York, New Jersey, Philadelphia, Bethlehem and Pennsylvania.
The Company operates 86 retail store locations and has about 1,450
employees.  The Company filed for Chapter 11 protection on
February 4, 2009 (Bankr. D. Del. Case No. 09-10358).  Edward J.
Kosmowski, Esq., at Young Conaway Stargatt & Taylor, LLP,
represents the Debtor in its restructuring efforts.  As of
January 3, 2009, the Debtor had total assets of $75,000,000 and
total debts of $72,000,000.

The Chapter 11 case is Strauss's third.  The preceding Chapter 11
case ended with the confirmation of a Chapter 11 plan in April
2007.  The Company was then named R&S Parts & Service Inc.


ATLANTIC JET: Case Summary & 15 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Atlantic Jet Management, LLC
        2525 NW 55 Ct, Hanger 24
        Ft. Lauderdale, FL 33309

Bankruptcy Case No.: 10-35289

Chapter 11 Petition Date: August 26, 2010

Court: United States Bankruptcy Court
       Southern District of Florida (Fort Lauderdale)

Judge: John K. Olson

Debtor's Counsel: Christopher Hixson, Esq.
                  LYNCH & ROBBINS, PA
                  2639 Dr. MLK St. N
                  St. Petersburg, FL 33704
                  Tel: (727) 822-8696
                  Fax: (727) 471-0616
                  E-mail: cinman@robbinsequitas.com

Scheduled Assets: $1,355,000

Scheduled Debts: $2,627,409

A list of the Company's 15 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flsb10-35289.pdf

The petition was signed by C. Scott Albury, managing member.


BIOLASE TECHNOLOGY: Mulder Quits as CEO, President & Chairman
-------------------------------------------------------------
Biolase Technology, Inc., reports that effective as of August 24,
2010, David M. Mulder resigned from his positions as chairman,
chief executive officer, and president of the Company.  In
addition, Mr. Mulder resigned as member of the board of directors
of the Company.

The Company has entered into a Separation Agreement with
Mr. Mulder.  He will receive (i) a severance payment of
$10,416.67, subject to all applicable tax withholding and payable
in one installment, (ii) COBRA premiums under the Company's
medical and dental benefit plans for six (6) months, and (iii) to
the extent that it is permissible by law and in compliance with
plan rules, premiums under the Company's group life insurance,
accidental death and dismemberment and disability benefit plans
for six months, (i) through (iii) above being in full and complete
satisfaction of any and all obligations, rights, or claims related
in any way to his employment with the Company, including but not
limited to those obligations, rights, or claims previously
existing under that certain Employment Agreement, dated as of
April 29, 2008, as amended, by and between the Company and Mr.
Mulder.

The severance payment is subject to Mr. Mulder's execution,
delivery, and non-retraction of a general release and wavier of
claims, and such other terms, conditions, and restrictive
covenants customary for agreements of this purpose.

                        Other Resignations

The Company also said that on August 22, 2010, Gregory D. Waller
resigned from the Biolase Board of Directors.  On August 26, James
R. Largent resigned from the Company's Board.  In connection with
Mr. Waller's resignation, Mr. Alexander K. Arrow, a director and
member of the Company's Audit Committee, was appointed Chairman of
the Audit Committee.

                       Forbearance Agreement

On August 16, Biolase and certain of its subsidiaries, as
guarantors under a Loan and Security Agreement, dated May 27,
2010, by and among the Company, MidCap Financial LLC, and Silicon
Valley Bank, entered into a forbearance agreement on August 16,
2010.

The Lenders agreed to, among other things, forbear from taking any
action to enforce certain of their rights or remedies under the
Loan Agreement with respect to the Company's non-compliance with a
minimum EBITDA financial covenant.  The Forbearance Agreement is
effective until the earliest of (a) August 31, 2010, and (b) the
occurrence of certain other events as described in the Forbearance
Agreement.  The Forbearance Agreement contains covenants by the
Company regarding, among other things, supplemental financial
reporting, cooperation with the Lenders, and additional
disclosures and notices.

                         NASDAQ Delisting

As reported by the Troubled Company Reporter, on August 18,
Biolase received a staff deficiency letter from The NASDAQ Stock
Market indicating that based on the Company's stockholders' equity
as reported in its Quarterly Report on Form 10-Q for the quarterly
period ended June 30, 2010, the Company does not comply with the
minimum stockholders' equity requirement of $2.5 million for
continued listing on The NASDAQ Capital Market as set forth in
NASDAQ Listing Rule 5550(b)(1).  As of June 30, 2010, the
Company's stockholders' equity was approximately negative $1.3
million.

The Company is permitted to submit a detailed plan of compliance
by October 4, 2010, advising NASDAQ of the action the Company has
taken, or plans to take, that would bring it into compliance with
Listing Rule 5550(b)(1).  Alternatively, the Company could
demonstrate 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 listing requirement.

                     About BIOLASE Technology

Irvine, California-based BIOLASE Technology, Inc. (NASDAQ:BLTI) --
http://www.biolase.com/-- the world's leading dental laser
company, develops, manufactures and markets Waterlase technology
and lasers and related products that advance the practice of
dentistry and medicine.  The Company's products incorporate
patented and patent pending technologies designed to provide
clinically superior performance with reduced pain, faster and
biological recovery times.  BIOLASE's principal products are
dental laser systems that perform a broad range of dental
procedures, including cosmetic and complex surgical applications.
Other products under development address ophthalmology, pain
management and other medical and consumer markets.

As of June 30, 2010, the Company had total assets of
$20.279 million, total liabilities of $21.582 million, and a
stockholders' deficit of $1.303 million.

                           *     *     *

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.


BISCAYNE PARK: Gets Final OK to Access Madison's Cash Collateral
----------------------------------------------------------------
The Hon. A. Jay Cristol of the U.S. Bankruptcy Court for the
Southern District of Florida authorized, on a final basis,
Biscayne Park LLC, to use the cash collateral of Madison Realty
Capital LP.

Madison, prepetition lender, consented to the Debtor's use of cash
collateral operate its business postpetition.  As adequate
protection for any diminution in value of its collateral, Madison
will receive replacement liens on the all postpetition real and
personal property of the Debtor, subject to carve out on certain
expenses.

The Debtor's access to the cash collateral will terminate on the
earlier to occur of (i) a lender's election, the date on which
Madison provides written notice to the Debtor of the occurrence of
an event of default; and (ii) December 8, 2010.

                      About Biscayne Park LLC

Miami, Florida-based Biscayne Park LLC filed for Chapter 11
bankruptcy protection on April 26, 2010 (Bankr. S.D. Fla. Case No.
10-20941).  Joel M. Aresty, Esq., who has an office in Miami
Florida, assists the Company in its restructuring effort.  The
Company disclosed $13,285,500 in assets and $14,318,965 in
liabilities as of the Petition Date.


BOESER INC: Hearing on Further Cash Collateral Use Set for Today
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Minnesota will
convene an expedited hearing today, August 31, 2010, at 3:30 p.m.,
to consider interim approval to Boeser Inc.'s further access to
cash collateral.

Boeser has asked for approval from the Court to access the cash
collateral of Anchor Bank and First Business Credit.  The Debtor
is unable to obtain credit on either a secured or unsecured basis
from any other source.

The Court previously entered interim orders authorizing the Debtor
to access cash collateral.  The last interim order allows the
Debtor to access cash until August 31.

The Court will convene a hearing on September 7 at 2:00 p.m., to
consider final approval to the Debtor's access of cash collateral.
Objections, if any, are due 2:00 p.m. on September 2.

The Debtor would use the cash collateral to purchase raw material
to manufacture product to resell, and to maintain its business
operations.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtors will grant replacement liens to Anchor
Bank and First Business Credit, which replacement liens will have
the same priority, dignity and effect as the prepetition liens
held by each creditor.

                         About Boeser Inc.

Minneapolis, Minnesota-based Boeser, Inc., filed for Chapter 11
bankruptcy protection on March 25, 2010 (Bankr. D. Minn. Case No.
10-42136).  Joseph Anthony Wentzell, Esq., at Wentzell Law Office,
PLLC, assists the Debtor in its restructuring effort.  The Company
disclosed $12,343,304 in assets and $3,538,695 in liabilities as
of the Petition Date.


BRAVO HEALTH: Moody's Affirms 'B1' Ratings on Senior Secured Debt
-----------------------------------------------------------------
Moody's Investors Service has affirmed the debt ratings of Bravo
Health, Inc. (senior secured at B1; stable outlook) and the Ba1
insurance financial strength rating of its operating subsidiary
following the announcement that the company will be acquired by
HealthSpring, Inc. (operating companies at Ba1 IFSR) for
$545 million in cash.  The targeted completion date for the
acquisition is the end of 2010, pending regulatory approval.

Moody's commented that the rating affirmation reflects the similar
lines of business in which HealthSpring operates as well as their
similar credit profiles and the profile of the combined
organization following the completion of the transaction.  Bravo's
ratings reflect its small membership base, its concentration in
the Medicare Advantage segment, its historically low, but
improving, earnings margins, its adequate capitalization level and
moderate financial leverage.  The ratings also reflect the
company's strong market position in the Philadelphia area and its
very experienced management team.

The last rating action on Bravo was on July 10, 2009, when the
ratings were upgraded one notch (senior debt to B1, IFSR to Ba1).

These ratings were affirmed with a stable outlook:

* Bravo Health, Inc. -- senior secured debt rating at B1;
  corporate family rating at B1;

* Bravo Health Pennsylvania, Inc. -- insurance financial strength
  rating at Ba1.

Bravo Health, Inc., is headquartered in Baltimore, Maryland.  For
the first six months of 2010 total revenue was $835 million with
Medicare Advantage membership (excluding Part D stand alone) of
approximately 99,300.  As of June 30, 2010, the company reported
shareholders' equity of approximately $167 million.

Moody's insurance financial strength ratings are opinions about
the ability of insurance companies to punctually pay senior
policyholder claims and obligations.


BRYAN/MOORE DEVELOPMENT: Plan Outline Hearing Set for September 8
-----------------------------------------------------------------
The Hon. Redfield T. Baum, Sr. of the U.S. Bankruptcy Court for
the District of Arizona will consider on September 8, 2010, at
9:00 a.m., the adequacy of the information in the disclosure
statement explaining Bryan/Moore Development, LLC's Plan of
Reorganization.  Objections, if any, are due five business days
prior to the hearing date.

As reported in the Troubled Company Reporter on August 10,
according to the Disclosure Statement, the Debtor intends to
restructure the claim of Bank of America (Class 2) and use the net
rents generated by the real property to service the indebtedness,
and to pay all administrative and unsecured claims in full.

Under the Plan, the Debtor will pay BofA $13,056,523, plus all
accrued interest at the non-default contract rate of 4.67% through
the effective date, plus attorney's fees and costs as allowed by
the Court, in monthly interest only payments at the fixed rate of
5.75% with a balloon payment of all principal and interest coming
due three years after the effective date.

Beginning 60 days from the effective Date, all general unsecured
claims (Class 3) will be paid in full, in cash.

Bryan Moore LLC (Class 4) will retain its interest in the Debtor
as the Debtor intends to pay all allowed claims in full and thus
Bryan Moore will retain its interest in the Debtor.

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

                   About Bryan/Moore Development

Mesa, Arizona-based Bryan/Moore Development, LLC, filed for
Chapter 11 bankruptcy protection on March 31, 2010 (Bankr. D.
Ariz. Case No. 10-09233).  McGuire Gardner P.L.L.C. assists the
Debtor in its restructuring efforts.  The Company scheduled
$15,525,000 in assets and $13,166,621 in liabilities as of the
Chapter 11 filing.


CAL INVESTMENTS: Case Converted to Chapter 7 Liquidation
--------------------------------------------------------
The Hon. Roger L. Efremsky of the U.S. Bankruptcy Court for the
Northern District of California converted Cal Investments Inc.'s
Chapter 11 case to one under Chapter 7 of the Bankruptcy Code.

Soquel, California-based Cal Investments, Inc., filed for Chapter
11 bankruptcy protection on October 30, 2009 (Bankr. N.D. Calif.
Case No. 09-59405).  Attorneys at Sagaria Law, P.C., assisted the
Debtor in its restructuring effort.  The Company disclosed assets
of at least $13,957,842, and total debts of $22,913,609 as of the
Petition Date.


CELEBRITY RESORTS: Still in Talks with Creditors on Plan
--------------------------------------------------------
Celebrity Resorts, LLC, et al., ask the U.S. Bankruptcy Court for
the Middle District of Florida to extend their exclusive period to
file their proposed Plan of Reorganization until September 30,
2010.

The Debtors need additional time to further discuss the viability
of their Plan with two of their principal secured creditors,
Textron Financial Corporation and Farmington Bank.

Orlando, Florida-based Celebrity Resorts, LLC, filed for Chapter
11 bankruptcy protection on March 5, 2010 (Bankr. M.D. Fla. Case
No. 10-03550).  R Scott Shuker, at Latham Shuker Eden & Beaudine
LLP, assists the Debtor in its restructuring effort.  The Company
estimated assets and debts at $10 million to $50 million in its
Chapter 11 petition.


CELEBRITY RESORTS: Has Interim Access to Textron Cash Collateral
----------------------------------------------------------------
The Hon. Arthur Briskman of the U.S. Bankruptcy Court for the
Middle District of Florida, entered, for the fourth time, an
interim order authorizing Celebrity Resorts, LLC, et al., to use
cash collateral of Textron Financial Corporation.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtors will grant the secured creditor a
replacement lien with the same extent and with the same validity
and priority as the creditor's prepetition lien.

Orlando, Florida-based Celebrity Resorts, LLC, filed for Chapter
11 bankruptcy protection on March 5, 2010 (Bankr. M.D. Fla. Case
No. 10-03550).  R Scott Shuker, at Latham Shuker Eden & Beaudine
LLP, assists the Debtor in its restructuring effort.  The Company
estimated its assets and debts at $10 million to $50 million.


CENTAUR LLC: Wins Approval to Sell Colorado Casino to Luna
----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Centaur LLC was authorized on Aug. 25 to sell the
Fortune Valley Hotel & Casino 40 miles west of Denver.  The buyer,
Luna Gaming Central City LLC, is paying $7.5 million cash plus a
$2.5 million note, less adjustments.  There were no competing
bids.

According to Mr. Rochelle, Centaur filed a revised reorganization
plan on July 22 where holders of $405 million in first-lien debt
are slated to recover 83.3% from a combination of mostly new stock
and debt.  Holders of $207 million in second-lien debt are in line
for a 1.4% recovery.

                       About Centaur LLC

Indianapolis, Indiana-based, Centaur, LLC, aka Centaur Indiana,
LLC -- http://www.centaurgaming.net/-- is an company involved in
the development and operation of entertainment venues focused on
horse racing and gaming.  The Company and its affiliates filed for
Chapter 11 bankruptcy protection on March 6, 2010 (Bankr. D.
Del. Case No. 10-10799).  Jeffrey M. Schlerf, Esq., at Fox
Rothschild LLP, assists the Company in its restructuring effort.
The Company disclosed assets of $584 million and debt of
$681 million as of the Petition Date.

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

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


CONSPIRACY ENT: June 30 Balance Sheet Upside Down by $4.67MM
------------------------------------------------------------
Conspiracy Entertainment Holdings Inc. filed its quarterly report
on Form 10-Q, reporting net income of $19,374 on $2.53 million of
net sales for the three months ended June 30, 2010, compared with
a net loss of $1.68 million on $755,223 net sales for the same
period a year ago.

The Company's balance sheet at June 30, 2010, showed $4.72 million
in total assets, $9.39 million in total liabilities, and a
$4.67 million stockholders' deficit.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?69f4

                 About Conspiracy Entertainment

Based in Santa Monica, California, Conspiracy Entertainment
Holdings, Inc., develops, publishes and markets interactive
entertainment software.  The Company currently publishes titles
for many popular interactive entertainment hardware platforms,
such as Sony's PlayStation, Nintendo 64 and Nintendo's Game Boy
Color and Game Boy Advance as well as the next generation hardware
platforms such as Sony's PlayStation 2, Sony's PSP, Nintendo
GameCube, Nintendo's DS, Microsoft's Xbox, and also for the PC.


CONSUMER PORTFOLIO: Receives Deficiency Notice From NASDAQ
----------------------------------------------------------
Consumer Portfolio Services, Inc. received a NASDAQ staff
deficiency letter on August 24, 2010 indicating that the Company
has failed to comply with the minimum bid price of $1.00 as
required by Rule 5450(a)(1).

CPS has until February 22, 2011 to regain compliance; otherwise
its common stock would be subject to delisting.  The Company is
considering several alternatives that could be taken to maintain a
listing of its common stock.

                   About Consumer Portfolio

Consumer Portfolio Services, Inc. is an independent specialty
finance company that provides indirect automobile financing to
individuals with past credit problems, low incomes or limited
credit histories.


CRYOPORT INC: Posts $1.33 Million Net Loss in June 30 Quarter
-------------------------------------------------------------
Cryoport Inc. filed its quarterly report on Form 10-Q, reporting a
net loss of $1.33 million on $151,460 of revenues for the three
months ended June 30, 2010, compared with net loss of $349,723 on
$13,703 of revenues for the same period a year earlier.

The Company's balance sheet at June 30, 2010, showed $3.40 million
in total assets, $5.47 million in total liabilities, and a $2.10
million stockholders' deficit.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?69ec

                           Going Concern

KMJ Corbin & Company LLP expressed substantial doubt about the
CryoPort Inc.'s ability to continue as a going concern, following
the Company's 2009 results.  The firm noted that the Company has
incurred recurring losses and negative cash flows from operations
since inception.  Although the Company has working capital of
$1,994,934 and cash and cash equivalents balance of $3,629,886 at
March 31, 2010, management has estimated that cash on hand, which
include proceeds from the offering received in the fourth quarter
of fiscal 2010, will only be sufficient to allow the Company to
continue its operations only into the second quarter of fiscal
2011.

                       About CryoPort Inc.

Headquartered in Lake Forest, Calif., CryoPort, Inc. (OTC BB:
CYRXD) -- http://www.cryoport.com/-- provides innovative cold
chain frozen shipping system dedicated to providing superior,
affordable cryogenic shipping solutions that ensure the safety,
status and temperature of high value, temperature sensitive
materials.  The Company has developed a line of cost-effective
reusable cryogenic transport containers capable of transporting
biological, environmental and other temperature sensitive
materials at temperatures below 0o Celsius.


CRYSTAL COAST: Case Summary & 4 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Crystal Coast Land Investors, LLC
        7603 Emerald Dr.
        Emerald Isle, NC 28594

Bankruptcy Case No.: 10-06859

Chapter 11 Petition Date: August 26, 2010

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

Judge: Stephani W. Humrickhouse

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

Scheduled Assets: $6,807,049

Scheduled Debts: $6,339,549

A list of the Company's four largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nceb10-06859.pdf

The petition was signed by Grover C. Cauthen, manager.


CHARLES RIVER: Moody's Puts Ba1 Rating on Restated Credit Facility
------------------------------------------------------------------
Moody's Investors Service assigned a Ba1 to the amended and
restated credit facility of Charles River Laboratories'.  The
credit facility includes a $400 million term loan and a
$350 million revolver, both due 2015.  There are no changes to any
other ratings, including the Ba2 Corporate Family Rating or the
stable outlook.  Moody's expect the proceeds of the credit
facility to be used to repay existing debt, to fund share
repurchases and for general corporate purposes.  Moody's have
withdrawn the ratings on the existing credit facility.

                        Ratings Rationale

The Ba2 Corporate Family Rating reflects Charles River's leading
market positions in its core RMS and PCS markets, good geographic
and customer diversity, and high barriers to entry.  Despite the
anticipation of debt-funded share repurchases, Moody's expect
financial metrics, including leverage, cash flow to debt and
interest coverage, to remain in-line with the Ba2 rating.  Moody's
expect financial metrics to be stronger than they would have been
had Charles River moved forward with the WuXi acquisition.  The
ratings are constrained by the expectation for continued operating
headwinds, particularly in the PCS business, due to lower demand
from pharmaceutical and biotech clients and significant industry
overcapacity and pricing pressure.  Further, should the current
share repurchase not be sufficient to appease shareholders,
Moody's believe there is the risk of more shareholder friendly
initiatives.

                         Ratings Assigned

* Senior Secured $350 million Revolving Credit Facility due 2015,
  Ba1 (LGD2, 29%)

* Senior Secured $400 million Term Loan facility due 2015, Ba1
  (LGD2, 29%)

                         Ratings Withdrawn

* Senior Secured $200 million Revolving Credit Facility due 2011,
  Baa3 (LGD2, 14%)

* Senior Secured $156 million (face value) Term Loan facility due
  2011, Baa3 (LGD2, 14%)

The outlook is stable and the Speculative Grade Liquidity Rating
is SGL-2.

The last rating action was August 3, 2010 when Moody's lowered the
rating on the existing credit facility to Baa3 from Baa2.

Charles River, headquartered in Wilmington, MA, is a contract
research organization that provides research tools and services
for drug discovery and development.  The company's revenues are
roughly split between the Research Models and Services business,
which involves the commercial production and sale of research
models; and the Preclinical Services business, which involves the
development and safety testing of drug candidates.  The company
reported revenues of approximately $1.2 billion for the twelve
months ended June 26, 2010.


CHEMTURA CORP: Prices Senior Term Loan for $295 Million
-------------------------------------------------------
Chemtura Corporation has priced a senior secured term loan in the
principal amount of $295 million.  The term loan will be funded
at 99.0% of its principal amount and will bear interest at a rate
per annum equal to the then current reserve adjusted LIBO rate
(with a floor of 1.5%) plus a margin of 4.0%, or, at the
Company's election, at a rate per annum equal to a floating base
rate plus a margin of 3.0%.  The term loan is expected to close,
subject to customary closing conditions, on August 27, 2010,
concurrently with the closing of the previously announced
offering of $455 million in principal amount of unsecured senior
notes due 2018.

Chemtura is offering the senior notes and entering into the
term loan as part of its anticipated exit financing package
pursuant to its Chapter 11 plan of reorganization, if the Plan is
confirmed.  The net proceeds of the senior notes offering and
term loan will be funded into a segregated escrow account until
the Plan is confirmed by the Bankruptcy Court and certain other
conditions are satisfied.  Upon satisfaction of the escrow
conditions, including confirmation of the Plan, Chemtura intends
to use the net proceeds, together with cash on hand and a
$275 million senior asset based revolving credit facility that the
Company plans to enter into concurrently with its emergence from
Chapter 11, to make payments contemplated under the Plan and to
fund Chemtura's emergence from Chapter 11.

The term loan will be guaranteed by each of Chemtura's current and
future domestic subsidiaries, other than certain excluded
subsidiaries and will be a secured obligation of Chemtura and the
guarantors.

                       About Chemtura Corp.

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

December 31, 2008, the Debtors had total assets of $3.06 billion
and total debts of $1.02 billion.

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


CHEMTURA CORP: Signs Deal for $455MM Senior Notes Offering
----------------------------------------------------------
Chemtura Corporation and certain of its subsidiaries, as
guarantors, entered into a purchase agreement on August 13, 2010,
with Citigroup Global Markets Inc., Banc of America Securities
LLC, Barclays Capital Inc., Wells Fargo Securities, LLC and
Goldman, Sachs & Co. -- collectively, the "Initial Purchasers" --
for a private placement offering of $455 million in aggregate
principal amount of 7.875% senior notes due 2018 at a purchase
price of 99.269% of the principal amount of the Senior Notes.

The size of the deal was increased from an originally planned
$450 million.

The Company disclosed the transaction in a Form 8-K filing with
the U.S. Securities and Exchange Commission dated August 17,
2010.

The Guarantors agreed to jointly and severally guarantee payment
of the Senior Notes.

Chemtura is offering the Senior Notes as part of its anticipated
exit financing package pursuant to its Chapter 11 plan of
reorganization, if the Plan is confirmed.

The net proceeds of the Senior Notes offering will be funded into
a segregated escrow account until the Plan is confirmed by the
Bankruptcy Court and certain other conditions are satisfied.

Upon satisfaction of the escrow conditions, including
confirmation of the Plan, Chemtura intends to use the net
proceeds to make payments contemplated under the Plan and to fund
its emergence from Chapter 11.

In addition to the escrow conditions described, the obligations
of the Initial Purchasers to purchase the Senior Notes are
subject to customary terms and conditions, including, among other
things, accuracy of representations and warranties and the
receipt of legal opinions and certificates.

The Senior Notes were offered and are anticipated to be sold by
Chemtura to the Initial Purchasers in reliance on an exemption
pursuant to Section 4(2) of the Securities Act of 1933, as
amended.

Delivery to the Initial Purchasers of, and payment for, the
Senior Notes, is anticipated to be made on or about August 27,
2010.

The Senior Notes have not been registered under the Securities
Act and may not be offered or sold in the United States absent
registration or an applicable exemption from registration
requirements.

A full-text copy of the Parties' Purchase Agreement is available
at the SEC at: http://ResearchArchives.com/t/s?6a18

                       About Chemtura Corp.

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

December 31, 2008, the Debtors had total assets of $3.06 billion
and total debts of $1.02 billion.

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


CHEMTURA CORP: Wins Nod to Amend Rights Offering Procedures
-----------------------------------------------------------
Chemtura Corporation and its debtor affiliates sought and
obtained a Bankruptcy Court ruling approving:

   (a) amended procedures to govern the "rights offering"
       contemplated under the Debtors' Joint Chapter 11 Plan
       Plan dated as of August 4, 2010, as it may be amended or
       supplemented from time to time; and

   (b) amended instructions to be provided to holders of
       interests entitled to participate in the Rights Offering.

The Debtors, after further discussions with Epiq Bankruptcy
Solutions, LLC, as the subscription agent, have determined that
amendments to the Rights Offering Procedures and the Rights
Offering Instructions are necessary to better effectuate the
Rights Offering.

Specifically, at the suggestion of the Subscription Agent, the
Debtors propose to change the Rights Offering Record Date to
approximately six business days before the date on which the
Debtors first send the rights exercise forms to holders of
Interests eligible to participate in the Rights Offering.

The Debtors and the Subscription Agent believe that the date
change is appropriate to facilitate careful and effective review
of the list of parties eligible to participate in the Rights
Offering and accurate mailing of the rights exercise forms to
those parties.

In addition, the Debtors sought to amend the Rights Offering
Instructions to provide more clarity regarding the Rights
Offering by explaining to potential participants when the Debtors
will file the results of voting and tabulation on the Plan and
how holders of Interests may obtain those results.

Since the voting deadline for the Plan is September 9, 2010, and
the deadline to participate in the Rights Offering will not occur
until September 30, 2010, holders of Interests who wish to know
the voting results prior to participating in the Rights Offering
will have an opportunity to do so, M. Natasha Labovitz, Esq., at
Kirkland & Ellis LLP, in New York, says.

Full-text copies of the Amended Rights Offering Procedures and
Amended Instructions are available for free at:

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

Judge Gerber authorizes the Debtors to make further non-
substantive changes or modifications to the Rights Offering
Procedures and Rights Offering Instructions without further Court
order, including changes to correct typographical and grammatical
errors.

                       About Chemtura Corp.

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

December 31, 2008, the Debtors had total assets of $3.06 billion
and total debts of $1.02 billion.

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


CIRTRAN CORP: Posts $196,600 Net Income in June 30 Quarter
----------------------------------------------------------
Cirtran Corporation filed its quarterly report on Form 10-Q,
reporting net income of $196,563 on $5.00 million of net sales for
the three months ended June 30, 2010, compared with net income of
$865,848 on $3.10 million of net sales for same period a year
earlier.

The Company's balance sheet at June 30, 2010, showed
$16.26 million in total assets, $22.95 million in total
liabilities, and a $6.69 million stockholders' deficit.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?69f3

West Valley City, Utah-based CirTran Corporation (OTC BB: CIRC)
http://www.CirTran.com/-- and its subsidiaries provide turnkey
manufacturing services using surface mount technology, ball-grid
array assembly, pin-through-hole, and custom injection molded
cabling in the United States and the People's Republic of China.


COLLIER LAND: Has Until October 21 to Propose Chapter 11 Plan
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Pennsylvania
extended Collier Land & Coal Development, LP's exclusive periods
to file, and solicit acceptances for, a Chapter 11 plan until
October 21, 2010 and December 20, respectively.

Clairton, Pennsylvania-based Collier Land & Coal Development, LP,
began its operations in 2007 with the intention of mining the coal
on the real estate and then subdividing the land and selling
approximately 59 buildable lots to developers.

The Company filed for Chapter 11 bankruptcy protection on
March 25, 2010 (Bankr. W.D. Pa. Case No. 10-22059).  Robert S.
Bernstein, Esq., and Scott E. Schuster, Esq., at Bernstein Law
Firm, P.C., assist the Debtor in its restructuring effort.  The
Debtor estimated its assets at 10 million to $50 million and debts
at $1 million to $10 million, as of the petition date.


CURTIS GORDON, JR.: Case Summary & 17 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Curtis Gordon, Jr.
        7210 Beechland Beach Road
        Prospect, KY 40059

Bankruptcy Case No.: 10-34581

Chapter 11 Petition Date: August 27, 2010

Court: U.S. Bankruptcy Court
       Western District of Kentucky (Louisville)

Judge: Thomas H. Fulton

Debtor's Counsel: Gordon A. Rowe, Jr., Esq.
                  The Starks Building, Suite 1430
                  455 S. 4th Street
                  Louisville, KY 40202
                  Tel: 584-1300
                  Fax: 584-9555
                  E-mail: g3rowelaw@aol.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 17 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/kywb10-34581.pdf


DELTA AIR LINES: Commences Tender Offers for Certs. & Notes
-----------------------------------------------------------
Delta Air Lines, Inc. (NYSE: DAL), announced that as part of its
ongoing efforts to reduce the company's debt levels, it has
commenced cash tender offers to purchase certain specified series
of outstanding Pass Through Certificates and its 11-3/4% Senior
Second Lien Notes due 2015.

    The tender offers consist of separate offers:

    * The Any and All Offers consist of offers to purchase three
      series of Northwest Airlines Pass Through Certificates as
      listed in the table below; and

    * The Dutch Auction Offers consist of offers to purchase,
      under certain conditions, Delta Pass Through Certificates
      Series 2007-1C and Delta's 11-3/4% Senior Second Lien
      Notes due 2015, using a modified "Dutch Auction"
      procedure.

The securities and other information related to the tender offers
are:

                        Any and All Offer

                                             Current
                                Original     Principal
                      CUSIP     Principal    Amt Outstanding
  Title of Security   Number    Amt Issued      (1)
  -----------------  ---------   -----------  ---------------
Northwest Airlines,  667294BD3   $56,000,000      $18,974,478
Inc. Pass Through
Certificates,
Series 2002-1C-2

Northwest Airlines,  667294BA9  $487,131,000     $230,651,985
Inc. Pass Through
Certificates,
Series 2002-1G-1(4)


Northwest Airlines,  667294BF8  $115,845,000      $90,561,926
Inc. Pass Through
Certificates,
Series 2007-1B

                                            Total
                                            Consideration
                    Interest  Early Tender  (Acceptable Bid
  Title of Security  Rate      Payment(2)    Price Range)(2)(3)
  -----------------  --------  ------------  ------------------
Northwest Airlines,    9.055%        $30.00           $1,050.00
Inc. Pass Through
Certificates,
Series 2002-1C-2

Northwest Airlines,   1.095%(5)      $30.00             $940.00
Inc. Pass Through
Certificates,
Series 2002-1G-1(4)

Northwest Airlines,      8.028%      $30.00           $1,010.00
Inc. Pass Through
Certificates,
Series 2007-1B

                      Dutch Auction Offer

                                             Current
                                Original     Principal
                      CUSIP     Principal    Amt Outstanding
  Title of Security    Number    Amt Issued      (1)
  -----------------  ---------   -----------  ---------------
Delta Air Lines,     247367BK0  $220,103,000     $159,152,912
Inc. Pass Through
Certificates,
Series 2007-1C

Delta Air Lines,     247361ZE1  $600,000,000     $567,510,000
Inc. 11-3/4% Senior
Second Lien Notes
due 2015

                                            Total
                                            Consideration
                    Interest  Early Tender  (Acceptable Bid
  Title of Security  Rate      Payment(2)    Price Range)(2)(3)
  -----------------  --------  ------------  ------------------
Delta Air Lines,       8.954%        $30.00  $1,012.50-$1,047.50
Inc. Pass Through
Certificates,
Series 2007-1C

Delta Air Lines,   12-1/4%(6)        $30.00  $1,102.50-$1,137.50
Inc. 11-3/4% Senior
Second Lien Notes
due 2015

    1. As of August 25, 2010; reflects principal repayments on
       each series of pass through certificates according to the
       amortization schedule applicable to such series; excludes
       securities held by Delta.

    2. Per $1,000 current principal amount outstanding of
       securities accepted for purchase.

    3. Includes the Early Tender Payment.

    4. A beneficial holder of approximately 40% of the current
       principal amount outstanding of the securities of this
       series has indicated to Delta that it intends to tender
       its securities pursuant to the tender offer.

    5. Floating rate based on USD 3-month LIBOR + 0.75%.

    6. The current interest rate on the Delta Air Lines, Inc.
       11-3/4% Senior Second Lien Notes due 2015 includes
       additional interest applicable to such series.

The offers are made pursuant to and are subject to the terms and
conditions described in an Offer to Purchase dated Aug. 25, 2010,
and a related Letter of Transmittal.  The tender offers expire at
11:59 p.m. Eastern Time on Sept. 24, 2010, unless extended or
earlier terminated.

Holders of securities must validly tender and not validly withdraw
their securities by 5 p.m. Eastern Time on Sept. 10, 2010 (unless
extended) to be eligible to receive the applicable total
consideration, which includes an early tender payment of $30 per
$1,000 current principal amount outstanding of any securities
accepted for purchase.  Holders of securities who validly tender
their securities after 5 p.m. Eastern Time on Sept. 10, 2010
(unless extended) and by the expiration date will only be eligible
to receive the applicable total consideration minus the early
tender payment.  Tenders of the securities may be withdrawn at any
time at or prior to 5 p.m. Eastern Time on Sept. 10, 2010 (unless
extended), but may not be withdrawn thereafter unless required by
applicable law.

No offer is conditioned upon any minimum amount of securities
being tendered or the consummation of any other offer.  Each offer
may be amended, extended or terminated separately. As of the date
of the Offer to Purchase, the current aggregate principal amount
outstanding of the securities subject to the Any and All Offer is
$340,188,659, and the current aggregate principal amount
outstanding of the securities subject to the Dutch Auction Offer
is $726,662,912, in each case excluding securities held by Delta.

The principal amount of securities to be purchased in the Dutch
Auction Offer will be equal to the amount, if any, by which the
current principal amount outstanding of securities purchased
through the Any and All Offer is less than $300 million (the
"Dutch Auction Cap").  If the principal amount of securities
purchased through the Any and All Offer equals or exceeds
$300 million, no securities will be purchased in the Dutch Auction
Offer.

Pricing and acceptance in the Dutch Auction Offer will be
determined according to the procedures described in the Offer to
Purchase.  The amounts of each series of securities that are
purchased in the Dutch Auction Offer may be prorated as set forth
in the Offer to Purchase.  Tenders at a premium outside the
applicable bid price range will not be accepted and will not be
used in calculating the clearing premium.

The Offer to Purchase and related Letter of Transmittal also
address certain U.S. federal income tax consequences.  Holders
should seek their own advice based on their particular
circumstances from an independent tax advisor.

Delta has retained Barclays Capital Inc., Deutsche Bank Securities
Inc., Morgan Stanley & Co. Incorporated and UBS Securities LLC to
serve as the Dealer Managers for the tender offers.  Delta has
also retained Global Bondholder Services Corporation to serve as
the Depositary and Information Agent.  Copies of the Offer to
Purchase and Letter of Transmittal can be obtained by contacting
the Information Agent at (866) 873-7700.  Questions regarding the
tender offers should be directed to Barclays Capital at (800) 438-
3242 (toll-free) or (212) 528-7581 (collect), Deutsche Bank
Securities at (866) 627-0391 (toll free) or (212) 250-2955
(collect), Morgan Stanley at (800) 624-1808 (toll free) or (212)
761-5384 (collect), and UBS Investment Bank at (888) 719-4210
(toll free) or (203) 719-4210 (collect).  You may also contact
your broker, dealer, commercial bank or trust company or other
nominee for assistance concerning the Offers.

This press release is not a tender offer to purchase or a
solicitation of acceptance of a tender offer, which may be made
only pursuant to the terms of the Offer to Purchase and the Letter
of Transmittal.  In any jurisdiction where the laws require the
tender offers to be made by a licensed broker or dealer, the
tender offers will be deemed made on behalf of Delta by Barclays
Capital Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co.
Incorporation and UBS Securities LLC, or one or more registered
brokers or dealers under the laws of such jurisdiction.  The
tender offers are not being made in any jurisdiction in which the
making or acceptance thereof would not be in compliance with the
laws of such jurisdiction.

                       About Delta Air Lines

Atlanta, Georgia-based Delta Air Lines (NYSE: DAL) --
http://www.delta.com/or http://www.nwa.com/-- provides scheduled
air transportation for passengers and cargo throughout the United
States, and around the world.  The Company's route network is
centered on the hub system it operate at airports in Atlanta,
Cincinnati, Detroit, Memphis, Minneapolis/St. Paul, New York-JFK,
Salt Lake City, Paris-Charles de Gaulle, Amsterdam and Tokyo-
Narita. The hub operations include flights, which gather and
distribute traffic from markets in the geographic region
surrounding the hub to domestic and international cities and to
other hubs. The network is supported by a fleet of aircraft, which
is varied in terms of size and capabilities.  On December 31,
2009, the Company's wholly owned subsidiary Northwest Airlines,
Inc., merged with and into Delta.  The wholly owned subsidiary of
the Company is Northwest Airlines Corporation.

Northwest and 12 affiliates filed for Chapter 11 protection on
September 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17930).
On May 21, 2007, the Court confirmed the Northwest Debtors'
amended plan.  That amended plan took effect May 31, 2007.

Delta and 18 affiliates filed for Chapter 11 protection on
September 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represented
the Delta Debtors in their restructuring efforts. On April 25,
2007, the Court confirmed the Delta Debtors' plan.  That plan
became effective on April 30, 2007.

(Bankruptcy Creditors Service Inc. publishes Delta Air Lines
Bankruptcy News, http://bankrupt.com/newsstand/or 215/945-7000).

                        *     *     *

Delta Air Lines and Northwest Airlines carry a 'B/Negative/--'
corporate ratings from Standard & Poor's.  They also continue to
carry 'B2' corporate family ratings from Moody's and "B-" LT
Issuer Default rating from Fitch.

Delta Air carries a 'B-' issuer default rating from Fitch Ratings.


DELTA MUTUAL: Posts $198,000 Net Loss for June 30 Quarter
---------------------------------------------------------
Delta Mutual Inc. filed its quarterly report on Form 10-Q,
reporting net loss of $197,956 on zero revenue for the three
months ended June 30, 2010, compared with net loss of $455,513 on
zero revenue for the same period a year ago.

The Company's balance sheet at June 30, 2010, showed $2.13 million
in total assets, $1.23 million in total liabilities, all current,
and $903,629 in stockholders' equity.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?69f5

                        About Delta Mutual

Scottsdale, Ariz.-based Delta Mutual, Inc. (OTCBB: DLTZ)
-- http://www.deltamutual.com/-- is continuing its investment in
the energy field and is currently in the process of opening oil
wells in the Guemes area of Salta in Argentina and has partnered
with major oil and gas companies to increase its presence and
asset producing properties.

                          *     *     *

Following the Company's 2009 results, Jewett, Schwartz, Wolfe &
Associates, in Hollywood, Florida, expressed substantial doubt
about the Company's ability to continue as a going concern.  The
independent auditors noted that the Company has an accumulated
deficit of $3,580,837 and working capital deficiency of $967,042
as of December 31, 2009, and is not generating sufficient cash
flows to meet its regular working capital requirements.


DENNY'S CORP: Names Robert Rodriquez as Chief Operating Officer
---------------------------------------------------------------
Denny's Corporation has named Robert Rodriguez as chief operating
officer, effective no later than September 13, 2010.

The Company said that Mr. Rodriguez brings deep leadership and
restaurant operations experience.  Since 2008 he served as
President and Chief Operating Officer at Pick Up Stix, a multi-
divisional franchise company in the Asian quick casual segment
owned by Carlson Restaurants Worldwide.  Prior to 2008 he was
President at Dunkin' Donuts.  In his new role, Mr. Rodriguez will
be responsible for the leadership of Denny's operations for all
franchise and company units.

Debra Smithart-Oglesby, interim chief executive officer and board
chair of Denny's, stated, "We are confident the Denny's team will
truly benefit from Robert's vast industry experience, from both an
operations and executive leadership perspective.  His expertise in
working with franchise concepts complements Denny's long-term
franchise driven growth strategy.  Robert's operational expertise
will also contribute to our effort to enhance the Denny's
experience for all of our guests at our more than 1,500
locations."

                          Incentive Awards

The Compensation and Incentives Committee of Denny's Board of
Directors approved these incentive awards for Mr. Rodriguez:

     i) 250,000 performance-based restricted stock units, to be
        granted on or about September 13, 2010, and

    ii) a non-qualified stock option to purchase up to 100,000
        shares of common stock, to be granted on October 1, 2010.

The performance-based restricted stock units represent the right
to earn up to 250,000 shares of Denny's common stock, based on the
closing price of the common stock exceeding specific price hurdles
for 20 consecutive trading days, and subject to Mr. Rodriguez's
continued employment with Denny's.

The stock options will have an exercise price per share equal to
the fair market value of the underlying shares as of the grant
date.  The options will vest in equal annual installments on each
of the first three anniversaries of the grant date, subject to Mr.
Rodriguez's continued employment with Denny's. The stock options
have a maximum term of ten (10) years.

The awards were negotiated and approved as an incentive to Mr.
Rodriguez's entering into employment with Denny's in accordance
with NASDAQ Listing Rule 5635(c)(4).

                           About Denny's

Based in Spartanburg, South Carolina, Denny's Corporation (NASDAQ:
DENN) -- http://www.dennys.com/-- Denny's is one of America's
largest full-service family restaurant chains, consisting of 1,348
franchised and licensed units and 232 company-owned units, with
operations in the United States, Canada, Costa Rica, Guam, Mexico,
New Zealand and Puerto Rico.

The Company's balance sheet for June 30, 2010, showed
$296.6 million in total assets, $409.5 million in total
liabilities, and a stockholders' deficit of $112.9 million.

Denny's carries "B2" corporate family and probability of default
ratings from Moody's Investors Service.


DEUCE INVESTMENTS: Postpones Plan Hearing to Resolve Issues
-----------------------------------------------------------
Deuce Investments, Inc., asks the U.S. Bankruptcy Court for the
Eastern District of North Carolina to continue the hearing on the
confirmation of its Plan of Reorganization for at least 30 days
from the scheduled August 26 hearing date.

The Debtor explains that it needs additional time to negotiate
with counsel for the lenders to resolve the pending issues and
obtain a confirmed plan.

Creditors Crescent State Bank and Donald R. Mason both consented
to continuation of the hearing on confirmation of the Debtor's
Plan.

According to the Disclosure Statement, the Debtor proposes to pay
its creditors under the Plan through the liquidation of all of its
real and personal property.  A full-text copy of the Disclosure
Statement is available for free
at http://bankrupt.com/misc/DEUCEINVESTMENTS_DS.pdf

                  About Deuce Investments, Inc.

Clayton, North Carolina-based Deuce Investments, Inc., filed for
Chapter 11 bankruptcy protection on Feb. 12, 2010 (Bankr. E.D.
N.C. Case No. 10-01083).  Trawick H. Stubbs, Jr., Esq., at Stubbs
& Perdue, P.A., assists the Company in its restructuring effort.
The Company scheduled assets of $17,334,282, and total debts of
$21,297,698 as of the bankruptcy filing.


ELITE LANDINGS: Plan Confirmation Hearing Set for September 10
--------------------------------------------------------------
The Hon. Robert J. Kressel of the U.S. Bankruptcy Court for the
District of Minnesota will convene a hearing on September 10,
2010, at 9:00 a.m., to consider the confirmation of Elite
Landings, LLC, and Petters Aviation, LLC's Plan of Liquidation.
The hearing will be held at Courtroom 8 West at U.S. Courthouse,
300 South Fourth Street, Minneapolis, Minnesota.  Objections, if
any, are due seven days prior to the hearing.

Five days prior to the hearing is fixed as the last day to timely
file the ballots to accept or reject the plan.

As reported in the Troubled Company Reporter on April 28, 2010,
the Plan proposes to deal with the assets, liabilities and
ownership interests of each Debtor separately.  The assets of each
Debtor to be liquidated are claims against MN Airlines, LLC, dba
Sun Country Airlines, which is also a debtor-in-possession under
Chapter 11 of the U.S. Bankruptcy Code, its parent, MN Airline
Holdings, Inc., which is a debtor-in-possession under Chapter 11
of the Bankruptcy Code, and claims against various other entities,
which are either in bankruptcy or in receivership that were at one
time within the business ambit of Thomas Petters.  Unsecured
creditors holding allowed claims will receive distributions based
on the resolution and the liquidation of the assets of each
Debtor.   A full-text copy of the Disclosure Statement, as
amended, is available for free at:

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

                        About Elite Landings

Based in Minnetonka, Minnesota, Elite Landings, LLC was, prior to
filing for bankruptcy, engaged in the business of purchasing
Airbus Corporate Jet Aircraft from Airbus S.A.S. and reselling
them.  The company filed for Chapter 11 relief on Oct. 9, 2008
(Bankr. D. Minn. Case No. 08-45210).  Cass Weil, Esq., and James
A. Rubenstien, Esq., at Moss & Barnett, represent Elite Landings,
LLC as counsel.  In its petition, the Company estimated between
$10 million and $50 million in assets and debts.

The company is a wholly owned subsidiary of Petters Aviation, LLC.
Petters Aviation is the owner of 84.4% of the issued and
outstanding stock in MN Airline Holdings, Inc., which, in turn,
owns 100% o the stock in MN Airlines, LLC dba Sun Country
Airlines.  Petters Aviation filed its Chapter 11 case on
October 6, 2008.

Both MN Airline Holdings, and MN Airlines, LLC are debtors-in-
possession in Chapter 11 cases pending in the district.

Petters Aviation is a wholly owned subsidiary of Thomas Petters,
Inc., which is in turn owned 100% by Thomas J. Petters,
individually.  Thomas Petters, the founder and former CEO of
Petters Group, has been indicted and a criminal proceeding against
him is proceeding in the U.S. District Court for the District of
Minnesota.

                About Petters Group Worldwide

Based in Minnetonka, Minn., 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. and Petters
Group Worldwide, LLC, filed separate petitions for Chapter 11
relief on Oct. 11, 2008 (Bankr. D. Minn. Case No. 08-45257 and 08-
45258, respectively).  James A. Lodoen, Esq., at Lindquist &
Vennum P.L.L.P., represents the Debtors as 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 Oct. 7, 2008,
Petters Aviation, LLC,, and affiliates MN Airlines, LLC, doing
business as Sun Country Airlines, Inc., and MN Airline Holdings,
Inc., filed for Chapter 11 bankruptcy protection with the U.S.
Bankruptcy Court for the District of Minnesota on Oct. 6, 2008
(Lead Case No. 08-45136).  Petters Aviation, LLC is a wholly owned
unit of Thomas Petters Inc. and owner of MN Airline Holdings,
Inc., Sun Country's parent company.

Polaroid Corp., which was owned by Petters since 2005, filed its
second voluntary petition for Chapter 11 on Dec. 18, 2008 (Bankr.
D. Minn., Lead Case No. 08-46617).


EMMIS COMMUNICATIONS: Extends Exchange Offer to September 2
-----------------------------------------------------------
Emmis Communications Corporation is further extending its offer to
issue 12% PIK Senior Subordinated Notes due 2017 in exchange for
Emmis' 6.25% Series A Cumulative Convertible Preferred Stock at a
rate of $30.00 principal amount of New Notes for each $50.00 of
liquidation preference of Preferred Stock until 5:00 p.m., New
York City time, on Thursday, September 2, 2010.

The exchange offer, as previously extended, was originally
scheduled to expire at 5:00 p.m., New York City time, on Friday,
August 27, 2010.

Emmis also announced that the special meeting of Emmis
shareholders held at 6:30 p.m., local time, on Friday, August 27,
2010, to vote on certain amendments to the terms of the Preferred
Stock, was initially adjourned until 8:00 a.m., local time, on
Monday, August 30, 2010, and subsequently adjourned until 6:30
p.m., local time, on Thursday, September 2, 2010, at One Emmis
Plaza, 40 Monument Circle, Indianapolis, Indiana 46204.

Emmis has been informed that JS Acquisition, Inc., an Indiana
corporation whose equity securities are owned entirely by Mr.
Jeffrey H. Smulyan, the Chairman, Chief Executive Officer and
President of Emmis, and JS Acquisition, LLC, an Indiana limited
liability company -- JS Parent -- that is wholly owned by Mr.
Smulyan, is further extending its tender offer to purchase all of
Emmis' outstanding shares of Class A common stock for $2.40 per
share in cash until 5:00 p.m., New York City time, on Thursday,
September 2, 2010.  The tender offer, as previously extended, was
originally scheduled to expire at 5:00 p.m., New York City time,
on Friday, August 27, 2010.

The offers are being further extended because Emmis, JS Parent, JS
Acquisition and Mr. Smulyan are continuing their discussions in an
effort to reach an agreement with Alden Global Capital, a private
asset management company that had previously agreed to provide
financing for the tender offer through an affiliate, and a group
of holders of approximately 38.3% of the outstanding shares of
Preferred Stock in the aggregate who have previously indicated
that they would vote against the matters to be voted on at the
special meeting. During the past several weeks, Emmis, JS Parent,
JS Acquisition, Mr. Smulyan, Alden and the representatives of the
group of holders of Preferred Stock negotiated and agreed in
principle on revised economic terms for the contemplated
transactions that each indicated it would support.  Subsequently,
Alden has informed Emmis, JS Parent, JS Acquisition and Mr.
Smulyan that it would no longer support the negotiated terms.
Accordingly, although discussions are continuing, JS Acquisition
believes it is unlikely that an agreement will be reached with
either Alden or the group of holders of Preferred Stock.

As of 5:00 p.m., New York City time, on Friday, August 27, 2010,
422,403 shares of Preferred Stock had been tendered into and not
withdrawn from the exchange offer.  In addition, as of 5:00 p.m.,
New York City time, on Friday, August 27, 2010, 21,274,709.46
Class A shares had been tendered into and not withdrawn from the
tender offer.  If not withdrawn at or prior to the expiration of
the tender offer, such shares would satisfy the Minimum Tender
Condition.

As of August 30, 2010, Smulyan et al. may be deemed to
beneficially own 6,122,532 shares of Class A Common Stock and
6,101,476 shares of Class B Common Stock -- roughly 29.1% of the
outstanding shares -- which are convertible into shares of Class A
Common Stock at any time on a share-for-share basis.  The shares
of Common Stock that Smulyan et al. may be deemed to beneficially
own consist of:

     -- 8,441.4075 shares of Class A Common Stock held in the
        401(k) Plan;

     -- 9,755 shares of Class A Common Stock held by Mr. Smulyan
        individually;

     -- 11,120 shares of Class A Common Stock held by Mr. Smulyan
        for his children over which Mr. Smulyan exercises or
        shares voting control;

     -- 3,000 shares of Class A Common Stock held by Mr. Smulyan
        as trustee for his niece over which Mr. Smulyan exercises
        or shares voting control;

     -- options to purchase 97,566 shares of Class A Common Stock
        that are exercisable currently or within 60 days of
        August 30, 2010;

     -- 30,625 shares of Class A Common Stock held by The Smulyan
        Family Foundation, as to which Mr. Smulyan shares voting
        control;

     -- 4,930,680 shares of Class B Common Stock held by Mr.
        Smulyan individually;

     -- options to purchase 1,170,796 shares of Class B Common
        Stock that are exercisable currently or within 60 days of
        August 30, 2010;

     -- 4,243,578.28 shares of Class A Common Stock beneficially
        owned by Alden, filed on July 6, 2010, which consists of:
        (i) 1,406,500 shares of Class A Common Stock that Alden
        holds and (ii) 2,837,078.28 shares of Class A Common Stock
        into which the 1,162,737 shares of Preferred Stock are
        convertible; and

     -- 1,718,446 shares of Class A Common Stock held by the
        Rollover Shareholders.

                           About Emmis

Headquartered in Indianapolis, Indiana, Emmis Communications
Corporation -- http://www.emmis.com/-- owns and operates radio
stations and magazine publications in the U.S. and in Europe.

At February 28, 2010, the Company had $498,168,000 in total
assets; $487,246,000 in total liabilities and $140,459,000 in
Series A Cumulative Convertible Preferred Stock; and shareholders'
deficit of $178,959,000.  At February 28, 2010, the Company had
non-controlling interests of $49,422,000 and total deficit of
$129,537,000.

As of April 15, 2010, the Company had not paid the Preferred Stock
dividend for six consecutive quarterly periods.

                           *     *     *

In April 2009, Moody's cut its corporate family rating on the
Company to 'Caa2'.

In May 2009, S&P raised its corporate credit rating on the Company
to 'CCC+'.  In June, S&P withdrew the 'CCC+' Corp. Credit Rating
at the Company's request.


EMPIRE RESORTS: Names Nanette Horner as Chief Compliance Officer
----------------------------------------------------------------
Empire Resorts Inc. appointed effective Aug. 25, 2010, Nanette L.
Horner as chief compliance officer.

Ms. Horner has served as the Company's Corporate Vice President of
Legal Affairs since July 1, 2010.

Prior to her employment by the Company, Ms. Horner worked in the
Office of Chief Counsel assigned to the Bureau of Licensing of the
Pennsylvania Gaming Control Board since July 2005.  In September
2006, Ms. Horner was named the Board's first Director of the
Office of Compulsive and Problem Gambling.  She is a member of
the Standards, Policies and Regulations Interest Group for the
National Council on Problem Gambling, and American Mensa.  Ms.
Horner is on the advisory board to the National Center for
Responsible Gaming's Annual Conference on Gambling and Addiction,
was elected to the Board of Directors of the International Masters
of Gaming Law in 2008 as the representative of the Regulators
Affiliate Member classification and is a member of the IMGL's
Responsible Gaming Committee.  She has been involved in the gaming
industry, as an attorney, since 1996 and is an adjunct professor
of law at Rutgers University School of Law-Camden where she
teaches Casino Law.

                       About Empire Resorts

Based in Monticello, New York, Empire Resorts, Inc. (NASDAQ: NYNY)
-- http://www.empireresorts.com/-- currently owns and operates
Monticello Casino & Raceway, a video gaming machine and harness
racing track and casino located in Monticello, New York, 90 miles
northwest of New York City.

Auditor Friedman LLP, in New York, after auditing the Company's
2009 results, said Empire Resorts' ability to continue as a going
concern depends on the Company's ability to fulfill its
obligations with respect to its $65 million of 5-1/2% senior
convertible notes.  Friedman also noted of the Company's
continuing net losses and negative cash flows from operating
activities.


EPICEPT CORPORATION: Fails to Get FDI Approval on Ceplene
---------------------------------------------------------
EpiCept Corporation said it received a refusal to file letter from
the U.S. Food and Drug Administration.  In its preliminary review
of the Ceplene NDA, the FDA concluded that the application did not
establish Ceplene's therapeutic contribution in its combination
with IL-2, and recommended that an additional confirmatory pivotal
trial assessing Ceplene's contribution and using overall survival
as a primary endpoint be conducted.

EpiCept intends to request a meeting with the FDA as soon as
possible to discuss its comments on the NDA submission.  The
Company retains the right to file the NDA over FDA objections.

"We are surprised and obviously very disappointed by the FDA's
decision on our application," commented Jack Talley, President and
Chief Executive Officer of EpiCept.  "The Ceplene/IL-2 regimen,
which is being rolled out to patients in the European Union, is
the only approved treatment that has been shown to prevent relapse
of AML patients, of whom the majority will die within a year
should a relapse occur.  We believe that the results of the
Ceplene Phase III AML study, which demonstrated a statistically
significant improvement in leukemia free survival without
impacting patients' quality of life and no treatment related
mortality, together with the supporting data we generated for the
application deserved a detailed review.  In addition, six
randomized large scale studies have shown that IL-2 alone is not
an effective therapy for AML patients.  We will meet with the FDA
as soon as possible to explore whether a basis exists to resubmit
the application without conducting a new clinical trial."

                          About EpiCept

Tarrytown, N.Y.-based EpiCept Corporation is a specialty
pharmaceutical company focused on the clinical development and
commercialization of pharmaceutical products for the treatment of
cancer and pain.  The Company's lead product is Ceplene(R), which
when used concomitantly with low-dose interleukin-2 is intended as
remission maintenance therapy in the treatment of acute myeloid
leukemia, or AML, for adult patients who are in their first
complete remission.

The Company's balance sheet as of June 30, 2010, showed
$11.4 million in total assets, $21.6 million in total liabilities,
and stockholders' deficit of $10.2 million.

As reported in the Troubled Company Reporter on March 18, 2010,
Deloitte & Touche LLP in Parsippany, New Jersey, expressed
substantial doubt against EpiCept Corporation's ability 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 recurring losses from operations and a
stockholders' deficit of $9.1 million at  December 31, 2009.


ERNIE JACOBSEN: Gets Additional 90 Days Exclusivity Extension
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Mississippi
extended for an additional 90 days Ernie Lee Jacobsen and Donna
Jean Jacobsen's exclusive periods to submit a proposed Chapter 11
Plan and an explanatory Disclosure Statement, and a similar
extension to obtain acceptances for the Plan.

Ernie Lee Jacobsen and Donna Jean Jacobsen filed for Chapter 11
bankruptcy protection on October 29, 2009 (Bankr. N.D. Miss. Case
No. 09-15667).  The Joint Debtors listed assets of $15,283,881 and
debts of $16,518,690 in their schedules.


FGIC CORP: Sept. 30 Deadline to File Proofs of Claim
----------------------------------------------------
The U.S. Bankruptcy Court has entered an order fixing 5:00 p.m. on
Sept. 30, 2010, as the deadline for creditors to file proofs of
claim on account of prepetition debts arising before Aug. 3, 2010.

The Garden City Group, Inc., serves as the Debtors' claims agent
and can be reached at (800) 327-3667 by telephone or
FGICinfo@gardencitygroup.com by e-mail.

New York-based FGIC Corporation is a privately held insurance
holding company that owns bond insurer Financial Guaranty
Insurance Company -- http://www.fgic.com

FGIC Corp. sought Chapter 11 protection (Bankr. S.D.N.Y. Case
No. 10-14215) on Aug. 3, 2010.  Brian S. Lennon, Esq., at
Kirkland & Ellis LLP, serves as counsel to the Debtor.  Garden
City Group, Inc., is the Debtor's claims and notice agent.  In its
schedules, the Debtor disclosed $11,539,834 in total assets and
$391,555,568 in total liabilities as of the Petition Date.  As
reported in the Troubled Company Reporter on Aug. 16, 2010, the
Debtor has submitted a chapter 11 plan that proposes a 2% to 3%
recovery for unsecured creditors and no recovery by the company's
shareholders.


FRASER PAPERS: Delays Filing of Q2 Financial Statements
-------------------------------------------------------
Fraser Papers Inc. disclosed the financial statements for the
interim period ended July 3, 2010, including the related
management discussion and analysis, and CEO and CFO certifications
will not be filed by the September 1, 2010 due date.

Fraser Papers remains under creditor protection pursuant to the
provisions of the Companies' Creditors Arrangement Act, with its
stay of proceedings having been extended by the court to
October 29, 2010.

The Company is working diligently to finalize the accounting for
certain restructuring transactions and will file the Required
Documents as soon as is practicable.

Until the Required Documents are filed, the Company intends to
provide information in accordance with National Policy 12-203
Cease Trade Orders for Continuous Disclosure Defaults.

                        About Fraser Papers

Fraser Papers -- http://www.fraserpapers.com/-- is an integrated
specialty paper company that produces a broad range of specialty
packaging and printing papers.  The Company has operations in New
Brunswick, Maine, New Hampshire and Quebec.

On June 18, 2009, citing continued operating losses, weak markets
for pulp and lumber, impending debt repayments and significant
pension funding obligations, the Company and its subsidiaries
filed for protection under the Companies Creditors Arrangement Act
(Ont. Super. Ct. J. Ct. File No. CV-09-8241-00CL) in Toronto and
Chapter 15 (Bankr. D. Del. Case No. 09-12123) of the U.S.
Bankruptcy Code.  Fraser is represented by Michael Barrack, Esq.,
Robert I. Thornton, Esq., and D.J. Miller, Esq., at
ThorntonGroutFinnigan LLP, in Toronto, and Derek C. Abbott, Esq.,
at Morris, Nichols, Arsht & Tunnell LLP, in Wilmington, Del.  With
adequate financing to support continuing operations, Fraser says
it is developing a restructuring plan to present to its creditors
-- hopefully by Oct. 16, 2009 -- with the objective of emerging
with a sustainable and profitable specialty papers business.


FREDDIE MAC: Files July 2010 Monthly Volume Summary
---------------------------------------------------
Freddie Mac, formally known as the Federal Home Loan Mortgage
Corporation, has issued its July 2010 Monthly Volume Summary.

Highlights for the month are:

  * The total mortgage portfolio decreased at an annualized rate
    of 3.9% in July.

  * Single-family refinance-loan purchase and guarantee volume was
    $18.1 billion in July, reflecting 64% of total mortgage
    portfolio purchases and issuances.

  * Total number of loan modifications were 11,024 in July 2010
    and 104,592 for the seven months ended July 31, 2010.

  * The aggregate unpaid principal balance (UPB) of mortgage-
    related investments portfolio decreased by $13.6 billion.

  * Total guaranteed PCs and Structured Securities issued
    decreased at an annualized rate of 4.4% in July.

  * Freddie's single-family delinquency rate decreased to 3.89% in
    July.

  * Freddie's multifamily delinquency rate increased to 0.30% in
    July.

  * The measure of our exposure to changes in portfolio market
    value (PMVS-L) averaged $116 million in July. Duration gap
    averaged 0 months.

A full-text copy of the Monthly Volume Summary is available for
free at http://ResearchArchives.com/t/s?6a5c

                        About Freddie Mac

Based in McLean, Virginia, Freddie Mac (NYSE: FRE)
-- http://www.FreddieMac.com/-- was established by Congress in
1970 to provide liquidity, stability and affordability to the
nation's residential mortgage markets.  Freddie Mac supports
communities across the nation by providing mortgage capital to
lenders.  Over the years, Freddie Mac has made home possible for
one in six homebuyers and more than five million renters.

Freddie Mac is under conservatorship and is dependent upon the
continued support of Treasury and FHFA to continue operating its
business.  The Company received $6.1 billion and $30.8 billion in
June 2009 and March 2009, respectively, pursuant to draw requests
that FHFA submitted to Treasury on the Company's behalf to address
the deficits in the Company's net worth as of March 31, 2009, and
December 31, 2008, respectively.  As a result of funding of the
draw requests, the aggregate liquidation preference on the senior
preferred stock owned by Treasury increased from $14.8 billion as
of December 31, 2008, to $51.7 billion on December 31, 2009.


FREDERICK BERG: Schedules $13.4 Million in Assets
-------------------------------------------------
Eric Pryne, business report at The Seattle Times, reports that
Frederick Darren Berg filed a financial statement, reporting
$13.4 million in assets and $8.8 million in debts.  Most of his
assets is real estate including Mr. Berg's Island waterfront home
worth $7.5 million, a 70-foot yatch worth $800,000, and Seattle
and San Francisco condominiums valued at $1.6 million and $1
million, respectively.  Most of the debts are mortgages or loans
related to those assets, according to the report.

According to the report, the financial statement did not include
any estimate how much is owed to investors in nine mortgage and
real estate investment funds owned by Mr. Berg.  Lawyers of the
investors raised more than $200 million for the funds.

                       About Frederick D. Berg

Frederick D. Berg filed for Chapter 11 on July 27, 2010 (Bankr.
W.D. Wash. Case No. 10-18668), estimating assets of more than
$10 million, and liabilities of between $1 million and $10
million.  The filing came after lawyers for one group of
investors, armed with a court order and accompanied by sheriff's
deputies, began seizing personal possessions at Berg's Mercer
Island home and downtown Seattle condo.


FX LUXURY: Plan Outline Hearing Scheduled for September 13
----------------------------------------------------------
The Hon. Bruce A. Markell of the U.S. Bankruptcy Court for the
District of Nevada will consider on September 13, 2010, at
9:30 a.m., the adequacy of the Disclosure Statement explaining the
Plan of Reorganization proposed by FX Luxury Las Vegas I, LLC, and
the first lien lenders.  The hearing will be held at the Foley
Federal Building, 300 Las Vegas Boulevard So., Courtroom No. 3,
Las Vegas, Nevada.  Objections, if an are due on September 10 at
12:00 p.m.

The Plan contemplates the Debtor's restructuring, the salient
terms of which include:

   -- The "new borrower" merging with and be the successor by
      merger to the Debtor.

   -- The New Borrower will be owned by an entity owned by the
      backstop investors, unsecured claimants elect to take
      equity, instead of cash, as payment of their claims, and
      existing equity holders who exercise their rights to
      purchase stock.

   -- Holders of first lien loan claims aggregating
      $270.75 million will receive: (a) their pro rata share of
      (i) a $10 million paydown, and (ii) the refinanced secured
      note; and, (b) if the first lien lenders do not make an
      election under 11 U.S.C. Sec. 1111(b), distributions on
      account of the deficiency claim.

   -- Holders of trade unsecured claims will be paid in full in
      cash without interest;

   -- Holders of none-trade unsecured claims expected to total
      $233 million to $316 million will have the option to take
      cash or equity;

   -- Holders of old membership interests will have an option to
      purchase shares of stock of the new company.

   -- Holders of administrative claims, priority claims (including
      priority tax claims) and other secured claims will not be
      impaired under the Plan and will either be paid in cash in
      full on the Effective Date, paid in the ordinary course, or
      treated as agreed by the respective holders and New
      Borrower.

A full-text copy of the Chapter 11 Plan, as amended, is available
for free at http://bankrupt.com/misc/FXLuxuryAmendedDS.pdf

                          Competing Plan

LandesBank Baden-Wurttemberg, New York Branch, as agent under the
first lien credit agreement and certain other lenders, also
proposed an alternative Chapter 11 plan for the Debtor.  T

Under the lenders' plan, holders of first lien claims will receive
their pro rata share of the debt under a $150 million new secured
loan of the reorganized company.  Holders of other secured claims
will have the claims reinstated or assumed by reorganized Debtor
that the claim is rendered unimpaired.  A full-text copy of the
disclosure statement explaining LandesBank's plan is available for
free at http://bankrupt.com/misc/FXLuxury_lendersPlan.pdf

                          About FX Luxury

New York-based FX Luxury Las Vegas I, LLC, fka Metroflag BP, LLC,
owns approximately 17.72 contiguous acres of real property located
at the southeast corner of Las Vegas Boulevard and Harmon Avenue
in Las Vegas, Nevada, which secures mortgage loans in the
aggregate principal amount of $454 million as of April 21, 2010.
FX Luxury is the remaining Las Vegas subsidiary of FX Real Estate
and Entertainment Inc.

The Company filed for Chapter 11 bankruptcy protection on
April 21, 2010 (Bankr. D. Nev. Case No. 10-17015).  Deanna L.
Forbush, Esq., at Fox Rothschild, LLP, assists the Company in its
restructuring effort as the Company's bankruptcy counsel.
Greenberg Traurig, LLP, is the Company's special counsel.  Sierra
Consulting Group, LLC, is the Company's financial advisor.

The Company disclosed $139,636,791 in assets and $492,568,036 in
debts at the time of the filing.


GLENWOOD PROPERTIES: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Glenwood Properties Inc.
          dba Glenwood Resort
              Glenwood Farms
              Resort Membership
              Glenwood
              Glenwood RV Resort
        24675 W. Gilmer Road, Suite 300
        Hawthorn Woods, IL 60047

Bankruptcy Case No.: 10-38247

Chapter 11 Petition Date: August 26, 2010

Court: United States Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Jacqueline P. Cox

Debtor's Counsel: Richard N. Golding, Esq.
                  THE GOLDING LAW OFFICES, P.C.
                  The Boyce Building
                  500 North Dearborn Street, 2nd Floor
                  Chicago, IL 60654
                  Tel: (312) 832-7885
                  Fax: (312) 755-5720
                  E-mail: rgolding@goldinglaw.net

Scheduled Assets: $5,391,239

Scheduled Debts: $2,605,016

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ilnb10-38247.pdf

The petition was signed by David E. Goldman, president.


GREENSHIFT CORP: Posts $2.16 Million Net Loss in June 30 Quarter
----------------------------------------------------------------
Greenshift Corporation filed its quarterly report on Form 10-Q,
reporting a net loss of $2.16 million on $2.03 million of revenue
for the three months ended June 30, 2010, compared with net income
of $8.35 million on $1.10 million of revenue for the same period a
year earlier.

The Company's balance sheet at June 30, 2010, showed
$18.58 million in total assets, $85.11 million in total
liabilities, and a $66.53 million stockholders' deficit.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?69ee

                    About Greenshift Corporation

Headquartered in New York, GreenShift Corporation develops and
commercializes clean technologies designed to integrate into and
leverage established production and distribution infrastructure to
address the financial and environmental needs of its clients by
decreasing raw material needs, facilitating co-product reuse, and
reducing waste and emissions.

Rosenberg Rich Baker Berman & Company expressed substantial doubt
about the Company's ability to continue as a going concern,
following the Company's 2009 results.  The independent auditors
noted that the Company has suffered losses from operations and has
a working capital deficiency as of December 31, 2009.


HAMBONE DOG: Hearing on Further Cash Collateral Use Set for Today
-----------------------------------------------------------------
The Hon. Stephani W. Humrickhouse of the U.S. Bankruptcy Court for
the Eastern District of North Carolina will convene a hearing
today, August 31, 2010, at 2:00 p.m. at Raleigh Courtroom, to
consider Hambone Dog Properties, LLC's further use of its lenders'
cash collateral.

Prior to the filing, the Debtor granted a security interest in all
or substantially all of its assets, to various lenders including
Carolina Bank, Crescent State Bank, RBC Bank, and Suntrust Bank.

The Court previously entered an interim order granting the Debtor
access to the cash proceeds generated from the rental of its
properties to pay for its postpetition operating expenses
including maintaining insurance coverage.  The order expires
August 31.

                 About Hambone Dog Properties, LLC

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).  Nigle B. Barrow, Jr., Esq., who has
an office in Raleigh, North Carolina, assists the Debtor in its
restructuring effort.  The Company estimated its assets and debts
at $10 million to $50 million.


HAMPTON ROADS: On Track to Return to "Well Capitalized" Status
--------------------------------------------------------------
Hampton Roads Bankshares, Inc., on Monday filed a definitive proxy
statement with the United States Securities and Exchange
Commission soliciting the vote of holders of its common stock on
matters to be presented at its 2010 annual meeting of
shareholders.  The Annual Meeting is now scheduled to be held on
September 28, 2010 at 9:00 a.m. EDT, at 999 Waterside Drive, Suite
400, Norfolk, Virginia.

The Company also filed with the SEC a Series A and B preferred
shareholder proxy statement and an Exchange Offer Memorandum,
which commenced offers to exchange newly issued shares of common
stock for outstanding shares of Series A and B preferred stock.

With these filings and the commencement of the Exchange Offers,
the Company remains on track for the closing of $235 million of
its planned $255 million private placement of common stock by the
end of the third quarter.

In its Form 10-Q report for the quarter ended June 30, 2010, the
Company said that as of June 30 it was considered "critically
undercapitalized" and BOHR was considered "significantly
undercapitalized" under regulatory guidelines.  In connection with
this, the Company and affiliates of The Carlyle Group, Anchorage
Advisors, L.L.C., CapGen Financial Group, and other financial
institutions have entered into a binding agreement, which is
anticipated to close on or before September 30, 2010, to purchase
common stock of the Company, as part of an expected aggregate
$255.0 million capital raise by the Company from institutional
investors in a private placement.  The private placement is fully
subscribed and will include the opportunity to raise an additional
$20 million to $40 million in common stock through a rights
offering to the Company's existing shareholders.

The consummation of the Private Placement is subject to a number
of conditions, including the exchange of all outstanding shares of
Series A and B preferred stock for shares of common stock or the
approval of an amendment to the designations of the Series A and B
preferred stock allowing the Company to convert such preferred
stock into common stock at its option.

The Company plans to use the $275 million to $295 million in total
proceeds from the Private Placement and the Rights Offering to
make capital contributions to its subsidiary banks and for other
corporate purposes.

                  About Hampton Roads Bankshares

Norfolk, Va.-based Hampton Roads Bankshares, Inc. --
http://www.hamptonroadsbanksharesinc.com/-- is a bank holding
company that was formed in 2001 and is headquartered in Norfolk,
Virginia.  The Company's primary subsidiaries are Bank of Hampton
Roads, which opened for business in 1987, and Shore Bank, which
opened in 1961.  The Banks engage in general community and
commercial banking business, targeting the needs of individuals
and small to medium-sized businesses.  Currently, Bank of Hampton
Roads operates 28 banking offices in the Hampton Roads region of
southeastern Virginia and 24 offices in Virginia and North
Carolina doing business as Gateway Bank & Trust Co. Shore Bank
serves the Eastern Shore of Maryland and Virginia through eight
banking offices and 15 ATMs.  Through various affiliates, the
Banks also offer mortgage banking services, insurance, title
insurance, and investment products.  Shares of the Company's
common stock are traded on the NASDAQ Global Select Market under
the symbol HMPR.

                    Written Agreement with Fed

Effective June 17, 2010, the Company and Bank of Hampton Roads
entered into a written agreement with the Federal Reserve Bank of
Richmond and the Bureau of Financial Institutions of the Virginia
State Corporation Commission.  The Company's other banking
subsidiary, Shore Bank, is not a party to the Written Agreement.

Bank of Hampton Roads has agreed to develop and submit for
approval, within the time periods specified, plans to (a)
strengthen board oversight of management and BOHR's operations,
(b) strengthen credit risk management policies, (c) improve BOHR's
position with respect to loans, relationships, or other assets in
excess of $2.5 million which are now, or may in the future become,
past due more than 90 days, are on BOHR's problem loan list, or
adversely classified in any report of examination of BOHR's, (d)
review and revise, as appropriate, current policy and maintain
sound processes for determining, documenting, and recording an
adequate allowance for loan and lease losses, (e) improve
management of BOHR's liquidity position and funds management
policies, (f) provide contingency planning that accounts for
adverse scenarios and identifies and quantifies available sources
of liquidity for each scenario, (g) reduce BOHR's reliance on
brokered deposits, and (h) improve BOHR's earnings and overall
condition.

                   Going Concern Considerations

The Company said due to its financial results, the substantial
uncertainty throughout the U.S. banking industry, the Written
Agreement the Company and BOHR have entered into, and BOHR's
"significantly undercapitalized" status, doubt exists regarding
the Company's ability to continue as a going concern.  This
concern is mitigated by the capital raise expected to close in the
third quarter of 2010.  With this new capital the Company and BOHR
are expected to return to "well capitalized" status.


HEALTHSPRING INC: Moody's Affirms 'Ba3' Rating on Senior Debt
-------------------------------------------------------------
Moody's Investors Service has affirmed the debt ratings of
HealthSpring, Inc. (senior secured at Ba3; stable outlook) and the
Ba1 insurance financial strength ratings of its operating
subsidiaries following the announcement of a definitive agreement
to acquire Bravo Health, Inc. (Bravo Health, Ba1 operating company
IFSR), a Medicare Advantage health insurer, for $545 million in
cash.  The targeted completion date for the acquisition is on or
before the end of 2010, pending regulatory approval.

In affirming HealthSpring's ratings and maintaining a stable
outlook, Moody's stated that while the company will increase its
outstanding debt by $500 million to finance the acquisition,
raising Debt to EBITDA from its current level of approximately 0.7
times, as a standalone entity, to approximately 2 times, this
metric is expected to remain consistent with the current rating
level.  However, given the company's concentration in Medicare
Advantage and the uncertainty as to the popularity and
profitability of these products as a result of healthcare reform,
the rating agency noted that HealthSpring's financial flexibility
will be somewhat diminished at the higher leverage ratio.

Offsetting this concern, Moody's commented that the acquisition
will provide HealthSpring a larger membership base, providing
opportunities for operating efficiencies in offering its Medicare
Advantage products, which will result in an improvement in the
company's credit profile.  Moody's Senior Vice President, Steve
Zaharuk stated, "With the scheduled reimbursement reductions to
Medicare Advantage plans under healthcare reform, healthcare
insurers will be under pressure to operate their plans more
efficiently to optimize benefits and meet the minimum loss ratio
requirements that are scheduled to begin in 2014.  This
acquisition will provide HealthSpring additional membership over
which to spread its costs and new markets for growth."

According to the rating agency, the acquisition provides
HealthSpring a sizeable presence in Pennsylvania and Maryland, and
adds to its market position in Texas.  Moody's added that
HealthSpring's integration plans anticipate minimal disruption to
existing members and networks, as both companies share similar
medical management philosophies.

From a capital perspective, Moody's stated that it anticipates
HealthSpring to maintain its NAIC risk based capital ratio at no
less than 150% of company action level.  However, the anticipated
addition of goodwill will likely increase the ratio of intangible
assets to equity above 100%, which negatively impacts the
company's financial profile.

Moody's said that due to the financial uncertainties and political
pressures associated with Medicare Advantage, further upgrades for
HealthSpring are limited in the near-term; however, the following
could result in an upgrade: 1) additional geographic and product
diversification beyond Medicare Advantage, 2) successful
integration of Bravo Health with continued organic membership
growth of 4% annually with net margins of 3%, and 3) reducing
leverage to pre-acquisition levels.  Conversely, HealthSpring's
ratings could be downgraded if: 1) the consolidated NAIC RBC ratio
fell below 100% CAL, 2) an impairment or loss of any of its
Centers for Medicare and Medicaid Services contracts, or
3) integration issues that lead to a significant loss of
membership or earnings.

The last rating action on HealthSpring was on July 30, 2009, when
the ratings (senior debt at Ba3) were affirmed.

These ratings were affirmed with a stable outlook:

* HealthSpring, Inc. -- senior secured debt rating at Ba3;
  corporate family rating at Ba3;

* HealthSpring of Tennessee, Inc. -- insurance financial strength
  rating at Ba1;

* Texas HealthSpring, LLC -- insurance financial strength rating
  at Ba1;

* HealthSpring of Alabama, Inc. -- insurance financial strength
  rating at Ba1.

HealthSpring, Inc., is headquartered in Nashville, Tennessee.  For
the first six months of 2010 total revenue was $1.5 billion with
Medicare Advantage membership (excluding Part D stand alone) of
approximately 197,400.  As of June 30, 2010, the Company has
shareholders' equity of approximately $1.0 billion.

Bravo, Inc., is headquartered in Baltimore, Maryland and operates
Medicare Advantage coordinated care plans in Pennsylvania, the
Mid-Atlantic region and Texas.  For the first six months of 2010
total revenue was $835 million with Medicare Advantage membership
(excluding Part D stand alone) of approximately 99,300.  As of
June 30, 2010 the company reported shareholders' equity of
approximately $167 million.

Moody's insurance financial strength ratings are opinions about
the ability of insurance companies to punctually pay senior
policyholder claims and obligations.


HEALTHSPRING INC: S&P Affirms 'B+' Counterparty Credit Rating
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'B+'
counterparty credit rating on HealthSpring Inc.

Standard & Poor's also said that the outlook on HealthSpring
remains stable.

The speculative-grade rating on Nashville, Tenn.-based
HealthSpring reflects rating weaknesses such as its very narrow
product scope in Medicare programs, its limited historical
geographic diversification (which it expects improve), a slight
capital deficiency at the regulated subsidiaries (based on
Standard & Poor's capital model), and a large amount of
intangibles relative to equity on the balance sheet.  In addition,
S&P believes reduced government funding of the Medicare Advantage
program over the next 10 years will likely pressure the company's
long-term operating margins.

S&P considers HealthSpring's rating strengths to include its
established market position in Medicare Advantage (MA) and
Medicare Part D products; a successful, tightly managed
coordinated care model that has controlled medical costs well
historically; a good earnings profile based on current and
historical operating margins; an above-average operating expense
structure; and a conservative, liquid investment portfolio.

HealthSpring will fund the Bravo transaction with a combination of
unregulated cash, $100 million in borrowings under an amended
existing credit facility, and $400 million in new loans that it
will establish simultaneously with transaction closing.  "S&P view
HealthSpring's planned acquisition of Bravo Health Inc. as having
the potential to improve its overall business profile, as Bravo
adds good geographic diversification in regions entirely new to
HealthSpring, such as Pennsylvania and the Mid-Atlantic," said
Standard & Poor's credit analyst James Sung.  "In addition, Bravo
has a nascent but capable Medicaid platform that the company is
launching in Texas and Maryland."

Strategically, S&P views the two companies as a good fit, as both
share similar business models that have focused almost exclusively
on Medicare Advantage and auto-assigned Medicare Part D business,
with sound medical management programs and operating cost
structures.  Conversely, S&P believes that the acquisition comes
with significant -- but manageable -- integration risks, as Bravo
will be HealthSpring's largest acquisition by far (dwarfing its
2007 acquisition of Leon Medical Health Plans) since its inception
in 2000.  Both companies have achieved strong membership growth
rates over the past year, and one watch area for S&P will be
HealthSpring's ability to continue growing and retaining
membership through the 2011 plan selling season as the pending
acquisition develops.

The stable outlook on HealthSpring reflects on S&P's view that the
company's creditworthiness is unlikely to change materially over
the next 12 months based on its expectations for full-year 2010
and 2011 operating results and credit metrics.  This outlook
incorporates S&P's assumption that HealthSpring will complete the
acquisition (by the fourth quarter of 2010, at the earliest)
without any integration or operational issues that weaken the
company's prospective business profile or financial results.  In
the event this occurs, if the company were to experiences
significant business deterioration or a decrease in earnings, or
if its key credit metrics fall to a level unsupportive of current
ratings, S&P would likely consider a one-notch downgrade.


HOLOGIC INC: S&P Withdraws 'BB-' Corporate Credit Rating
--------------------------------------------------------
Standard & Poor's Ratings Services said that it withdrew its 'BB-'
corporate credit rating and 'BB-' subordinated debt rating, on
Hologic Inc. at the company's request.  However, S&P will reassess
Hologic's corporate and issue ratings in the near term and will
publish these ratings on an unsolicited basis.

Unsolicited rating(s) are initiated by Standard & Poor's and may
be based solely on publicly available information and may or may
not involve the participation of the issuer's management.
Standard & Poor's will use information from sources believed to be
reliable, but does not guarantee the accuracy, adequacy, or
completeness of any information used.

Bedford, Mass.-based manufacturer Hologic is a supplier of
diagnostic, surgical, and medical imaging equipment.


HOTELS UNION: W Hotel Owners' Liquidation Plan Confirmed
--------------------------------------------------------
U.S. Bankruptcy Judge Kevin Carey confirmed the Chapter 11
liquidation plan of Hotels Union Square Mezz 1 LLC and
Hotels Union Square Mezz 2.

Dow Jones' DBR Small Cap reports that the Plan calls for the sale
of the W New York-Union Square to real estate investment trust
Host Hotels & Resorts Inc.  The plan also settles disputes between
the hotel's indirect owners and their creditors.  Under the plan,
filed in the Chapter 11 bankruptcy proceedings of Hotels Union
Square Mezz 1 LLC and affiliate Hotels Union Square Mezz 2 LLC,
Host will acquire the Mezz 1 unit's stake in the hotel's direct
owner, a company that isn't in bankruptcy.  The deal hands Host,
which owns or holds controlling stakes in more than 130 upscale
and luxury hotels, control of the W New York-Union Square.

As reported by the Troubled Company Reporter on August 26, 2010,
Jacqueline Palank at Dow Jones Daily Bankruptcy Review said LNR
Partners Inc. -- the special servicer of the W New York-Union
Square's $115 million mortgage -- urged the Court to block the
bankruptcy plan.

According to Dow Jones, LNR Partners told the Court last week
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.

Dow Jones also said 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 said
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 Dow Jones report noted that 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.


HYUN UM: Section 341(a) Meeting Scheduled for Sept. 29
------------------------------------------------------
The U.S. Trustee for Region 18 will convene a meeting of Hyun J.
Um and Jin S Um's creditors on September 29, 2010, at 11:00 a.m.
The meeting will be held at Courtroom J, Union Station, 1717
Pacific Avenue, Tacoma, WA 98402.

This is the first meeting of creditors required under Section
341(a) of the U.S. Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Tacoma, Washington-based Hyun J. Um and Jin S. Um filed a Chapter
11 petition on August 17, 2010 (Bankr. W.D. Wash. Case No. 10-
41789).  Noel P. Shillito, Esq., at Shillito & Giske PS, assists
the Debtors in their restructuring effort.  The Debtors estimated
their assets at up to $50,000 and their liabilities at $100
million to $500 million as of the Petition Date.


HYUN UM: Wants Extension of Filing of Schedules Until Sept. 21
--------------------------------------------------------------
Hyun and Jin Um ask the U.S. Bankruptcy Court for the Western
District of Washington to extend until September 21, 2010, the
deadline for the filing of schedules of assets and liabilities.

The Debtors are requesting additional time to prepare and file his
balance of schedules.  The Debtors are working to compile the
necessary documentation so that their counsel can prepare the
paperwork, but need additional time to insure that the paperwork
filed with the Court is complete and accurate.

Tacoma, Washington-based Hyun J. Um and Jin S. Um filed a Chapter
11 petition on August 17, 2010 (Bankr. W.D. Wash. Case No. 10-
41789).  Noel P. Shillito, Esq., at Shillito & Giske PS, assists
the Debtors in their restructuring effort.  The Debtors estimated
their assets at up to $50,000 and their liabilities at $100
million to $500 million as of the Petition Date.


INNOPHOS HOLDINGS: Moody's Raises Corporate Family Rating to 'Ba2'
------------------------------------------------------------------
Moody's Investors Service raised Innophos Holdings, Inc.'s
Corporate Family Rating to Ba2 from Ba3 as a result of the
meaningful reduction in debt and expectations for strong operating
results.  Moody's also assigned Ba2 ratings to the $125 million
senior secured first lien revolving credit facility due 2015 and
$100 million term loan due 2015.  The proceeds from the term loan
and drawings under the revolver will be used to repay the
$190 million 8.875% sr. subordinated notes that are in the process
of being called and replace the $65 million revolving credit
facility due 2013.  The SGL-1 Speculative Grade Liquidity rating
was affirmed.  The outlook is stable.

This summarizes the ratings activity.

Innophos Holdings, Inc.

Ratings upgraded:

* Corporate Family Rating -- Ba2 from Ba3
* Probability of Default Rating -- Ba2 from Ba3

Ratings Assigned:

* $125mm Sr Sec Revolving Credit Facilities due 2015 -- Ba2 (LGD4,
  50%)

* $100 mm Sr Sec Term Loan due 2015 -- Ba2 (LGD4, 50%)

Ratings affirmed:

* Speculative grade liquidity rating -- SGL-1
* Ratings outlook -- Stable

Innophos Inc.

Ratings affirmed:

* $190mm 8.875% Sr subordinated notes due 2014 - Ba3 (LGD5, 79%)
  from Ba3 (LGD4, 59%)

The rating on the subordinated notes will be withdrawn upon
redemption of the notes.

                        Ratings Rationale

The upgrade of the CFR to Ba2 from Ba3 reflects Innophos' solid
financial performance (despite significant macroeconomic headwinds
in 2009 and the loss of a major customer of its Mexican
operations), debt reduction and low leverage for its rating
category, stable EBITDA margins, strong financial strength and
cost position metrics, positive resolution of arbitration with its
primary phosphate rock supplier to its Mexican subsidiary, and a
continuation of recovery in sales volumes.  The rating
incorporates the expectation that the company will maintain a
secure supply of phosphate rock for its Mexican operations after
its contract with the current supplier expires in September 2010.
Additionally, the proposed Senior Secured First Lien Credit
Facilities provide Innophos with an improved financial structure
with the ability to prepay the debt without penalties, extended
maturities, lower interest expense and a larger revolving credit
facility that is not subject to a borrowing base.

The company continues to benefit from demand in many of its key
markets, which are not highly cyclical (e.g., food & beverage,
consumer products, etc.), and the continuing ability to pass
through raw material cost increases; and thereby has been
successful in generating healthy free cash flow from operations.
However, the CFR is constrained by the company's modest size
(revenue base is less than $750 million), expected limited sales
growth opportunities in its current markets and other business
risks stemming from its narrow product portfolio, reliance on
outside suppliers of phosphate rock or merchant green acid,
limited operating diversification and legal issues.  Additionally,
it has experienced volatility in its margins and may need to spend
capital or do acquisitions to achieve attractive growth rates.

With the recent reduction in debt and proposed debt issuance there
is little negative pressure on Innophos' ratings at this time.
However, the ratings could come under negative pressure if volumes
and pricing trends reverse dramatically causing sustainable
decline in margins, the company were unable to continue to
generate positive operating cash flow, liquidity declined
significantly, unexpected negative developments occur in the
Mexican tax claims litigation or if the company was not successful
in maintaining an economical and secure supply of phosphate rock
for its Mexican operations.

The short term liquidity rating of SGL-1 reflects Moody's
expectation that Innophos will have excellent liquidity over the
next 12 months, supported by its cash balances ($67.1 million as
of June 30, 2010), positive free cash flow, availability under its
revolving credit facility, and flexibility under its financial
covenants.  The proposed $225 million senior secured credit
facility will include a $125 million five year revolving credit
facility with approximately $50 million of availability after the
refinancing of the $190 million senior subordinated notes due
2014.  The company has historically generated positive free cash
flow that benefited from low capital expenditures compared to its
depreciation and moderate use of cash for working capital
requirements (the majority of the company's markets are not
seasonal).

Moody's last rating action for Innophos was on March 29, 2010,
when Moody's changed Innophos' outlook to positive from stable,
and affirmed its Ba3 CFR and SGL-1 Speculative Grade Liquidity
rating.

Innophos Holdings, Inc., a publicly traded company, is the parent
company of Innophos Investments Holdings, Inc., which owns 100% of
Innophos, Inc.  Innophos, Inc., is the largest North American
manufacturer of specialty phosphate salts, acids and related
products serving a diverse range of customers across multiple
applications, geographies and channels.  Innophos offers a broad
suite of products used in a wide variety of food and beverage,
consumer products, pharmaceutical and industrial applications.
Headquartered in Cranbury, New Jersey, the company has plant
operations in the US, Canada and Mexico.  Revenues for the twelve
months ending June 30, 2010, were $662 million.


INTELSAT SA: Says Option Agreements with Managers Amended
---------------------------------------------------------
Intelsat S.A. said the Option Agreements between Intelsat Global
S.A. and David McGlade, Phillip Spector and Michael McDonnell
dated May 6, 2009 and the Option Agreements between the Company
and Steven Spengler, Thierry Guillemin and certain management
employees dated May 8, 2009 were amended effective Aug. 5, 2010.

The Option Agreements previously provided that if certain
specified shareholders sell all their shares in the Company, a
certain portion of the shares subject to each option will be
eligible to vest if the total cash proceeds received by such
shareholders is equal to at least 4.1 times their initial
investment.  Each Amendment provides that if the certain specified
shareholders sell all their shares in the Company and do not
achieve at least 4.1 times their initial investment, a portion of
the Performance Exit Options will be eligible to vest if the total
cash proceeds received by such shareholders is greater than 3.3
times their initial investment and greater than the investment
return achieved on an earlier measurement date.

                      Unallocated Bonus Plan

On Aug. 20, 2010, the Company implemented a new Unallocated Bonus
Plan and, in connection with the Bonus Plan, entered into letter
agreements with Mr. McGlade, Mr. Spector and Mr. McDonnell
providing that the Bonus Plan may not be amended in any manner
that would adversely affect the rights of Mr. McGlade, Mr. Spector
or Mr. McDonnell without his prior consent.

Pursuant to the Intelsat Global, Ltd. 2008 Share Incentive Plan,
approximately 10% of the shares of the Company may be awarded to
management as options and restricted shares.  The Bonus Plan
provides for the distribution of the value of any unallocated
shares that remain of the Pool, and that otherwise would have
been vested, on certain measurement dates to the Equity Plan
participants who remain employed by the Company at that time.

Each such participant will be eligible to receive a pro-rata share
of the value of the unallocated Pool, based on the percentage of
allocated shares held by such participant and the length of time
elapsed since such participant was granted the underlying award.
The bonus will be payable in the form of cash or shares of the
Company, as set forth in the Bonus Plan.  If the Equity Plan
participants do not become eligible to receive a bonus on or prior
to Feb. 4, 2015, the Bonus Plan expires and no bonuses will be
payable under the Bonus Plan.

A full-text copy of the Amendment To Option Agreement is available
for free at http://ResearchArchives.com/t/s?6a57

A full-text copy of the Unallocated Bonus Plan is available for
free at http://ResearchArchives.com/t/s?6a58

A full-text copy of the Form Of Letter Of Agreement is available
for free at http://ResearchArchives.com/t/s?6a59

                       About Intelsat S.A.

Based in Luxembourg, Intelsat S.A. provides fixed satellite
services worldwide.

The Company's balance sheet at June 30, 2010, showed
$17.34 billion in total assets, $814.64 million in total current
liabilities, $15.22 billion in long term debt, $128.77 million in
deferred revenue, $254.63 million in deferred satellite
perfomance, $548.71 million in deferred income taxes,
$239.87 million in accrued retirement benefits, a $335.15 million
redeemable non-controlling interest, $8.88 million commitment and
contingencies, and a stockholders' deficit of $210.76 million.

Intelsat S.A. reported revenue of $635.3 million and a net loss of
$180.6 million for the three months ended June 30, 2010.


JACK WILSON: Case Summary & 6 Largest Unsecured Creditors
---------------------------------------------------------
Joint Debtors: Jack Lynn Wilson
               Patricia Kay Wilson
                 aka Patty Wilson
               47193 Clubhouse Trail
               Sioux Falls, SD 57108

Bankruptcy Case No.: 10-40728

Chapter 11 Petition Date: August 26, 2010

Court: U.S. Bankruptcy Court
       District of South Dakota (Sioux Falls)

Judge: Charles L. Nail, Jr.

Debtors' Counsel: Clair R. Gerry, Esq.
                  GERRY & KULM ASK, PROF LLC
                  P.O. Box 966
                  Sioux Falls, SD 57101-0966
                  Tel: (605) 336-6400
                  E-mail: gerry@sgsllc.com

Scheduled Assets: $2,057,260

Scheduled Debts: $3,879,265

A list of the Joint Debtors' six largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/sdb10-40728.pdf


JOSEPH WILSON, JR.: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Joseph Robert Wilson, Jr.
          dba Beckmeisters, LLC
              Mirth Cafe LLC
              Bridge Haven Memory Care LLC
              Prince Development LLC
        2139 N. 1300 Road
        Eudora, KS 66025

Bankruptcy Case No.: 10-22937

Chapter 11 Petition Date: August 26, 2010

Court: U.S. Bankruptcy Court
       District of Kansas (Kansas City)

Judge: Robert D. Berger

Debtor's Counsel: Jonathan C. Becker, Esq.
                  3220 Mesa Way, Suite B
                  Lawrence, KS 66049-2344
                  Tel: (785)842-0900
                  Fax: (785)842-0916
                  E-mail: jcb3220law@hotmail.com

Scheduled Assets: $1,806,503

Scheduled Debts: $2,080,313

A list of the Debtor's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ksb10-22937.pdf


JUNIPER GENERATION: Fitch Affirms 'BB+' Rating on Senior Notes
--------------------------------------------------------------
Fitch Ratings has affirmed Juniper Generation, LLC's senior
secured notes due 2014 at 'BB+'.  The Rating Outlook is revised to
Stable from Negative.

The rating reflects Fitch's expectation that debt service coverage
ratios may approach a minimum of 1.2 times under a low natural gas
price rating scenario, generally low for the affirmed rating
category.  Favorably, DSCRs in the rating case are expected to
average 1.45x through maturity in 2014.  While most of the plants
generate solid financial performance under this scenario, Fitch
notes that the Corona plant's financial performance results in
lean or negative margins in 2010 and 2011 leading to reliance on
working capital resources to contribute to senior debt service in
2010 and 2011.  In addition to working capital resources, Juniper
has flexibility to manage dispatch to maximize financial return
among its diverse portfolio of generating assets.

Actual historical performance from 2005-2009 has averaged 1.71x,
exceeding base and stress case projections.  However, Juniper has
not yet operated a full fiscal year under the short-run avoided
cost power prices that are now calculated on a lower heat rate,
which is a blend of the incremental heat rate and a market heat
rate.  While the blended heat rate was adopted in 2007, it was not
implemented until August 2009.  Juniper's financial performance
under the lower heat rate is so far solid with a second quarter
2010 debt service coverage ratio of 1.71x.

Fitch notes that Juniper is still exposed to the expected
transition of calculating SRAC power prices based upon a market
heat rate, which is lower than the blended heat rate.  While the
timing of such transition is still unclear, Fitch notes that
adoption of a market heat rate to calculate power prices could
result in negative rating action for Juniper.  Failure to maintain
Qualifying Facility status by not renewing steam sales contracts
expiring in 2011 could also result in negative rating action.

Juniper's portfolio originally included nine generating units
providing cash flow for senior debt service.  As of June 2010,
four plants have been removed from the portfolio due to expiring
purchase power agreements.  Two more PPAs will expire in 2011 with
an additional expiration in 2012.  Debt service payments will rely
on distributions from two facilities for the final two years of
the senior note term.  While the Corona and Bear Mountain plants
are the only plants whose PPAs remain in effect through debt
maturity, scheduled debt service declines commensurately with
reduced cash flow, resulting in coverage levels consistent with
the affirmed rating.  The projects' operating company, WCAC
Operating Company, also contributes some cash flow to support debt
service coverage through debt maturity.

Key rating drivers that may affect the rating:

  -- Timing of implementation of market heat rates that drive
     power prices;

  -- Maintaining solid operational performance.

                             Security

The senior notes are secured by a first-priority security interest
in Juniper's equity interests with respect to the nine projects
and the two service companies.  The collateral comprises all of
Juniper's accounts and assets, including the assets of the wholly
owned projects, until the scheduled expiration of their respective
PPAs.  Upon the expiry of each facility's PPA, the facility and
the relevant equity interest are removed from the collateral
package, and the cash flows associated with that facility will no
longer be available to pay debt service.

                           Credit Summary

Juniper Generation LLC is a special purpose company created solely
to issue the secured notes and hold a portfolio of equity
interests in nine gas-fired cogeneration plants and two service
companies.  The facilities, located in southern California, sell
energy and capacity to Pacific Gas and Electric (PG&E; Fitch
Issuer Default Rating of 'A-', with a Stable Outlook) and Southern
California Edison (IDR of 'A-', with a Stable Outlook) under PPAs
expiring between 2009 and 2018.  There is no debt at the
individual project level.


LAKE LOTAWANA: Chapter 9 Case Summary & Creditors List
------------------------------------------------------
Debtor: Lake Lotawana Community Improvement District
        27901 East Foxberry Trail
        Lees Summit, MO 64086

Bankruptcy Case No.: 10-44629

Type of Business: The Debtor is engaged in the health care
                  business.

Chapter 9 Petition Date: August 27, 2010

Court: U.S. Bankruptcy Court
       Western District of Missouri (Kansas City)

Debtor's Counsel: Donald G. Scott, Esq.
                  MCDOWELL RICE SMITH & BUCHANAN
                  605 W. 47th Street, Suite 350
                  Kansas City, MO 64112
                  Tel: (816) 753-5400
                  Fax: (816) 753-9996
                  E-mail: dscott@mcdowellrice.com

Scheduled Assets: $5,512,758

Scheduled Debts: $8,764,559

The petition was signed by Klonda Holt, president.

Debtor's six Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Midwest Independent Bank           Trust Estate         $8,150,000
910 Weathered Rock Road
Jefferson City, MO 65110

Lone Summit Bank                   Trust Estate           $600,000
12418 S. Highway 7
Lees Summit, MO 64086

Midwest System Solutions, LLC      --                       $6,500
2000 E. Mechanic
Harrisonville, MO 64701

Douthit Frets Rouse Gentile &      --                       $3,933
Rhodes LLC

Wells Fargo Bank                   --                       $3,834

Hardwick Law Firm, LLC             --                         $293


LEHMAN BROTHERS: Asks for U.S. Stay of UK Pension Proceedings
-------------------------------------------------------------
Lehman Brothers Holdings Inc. asks the U.S. Bankruptcy Court for
the Southern District of New York to enforce the automatic stay
as to certain administrative proceedings, which are not carved
out by Section 362(b)(4) of the Bankruptcy Code, and enjoin the
United Kingdom Pensions Regulator, the trustees of the Lehman
Brothers Pension Scheme, and the Board of the Pension Protection
Fund -- the Claimants -- from attempting to liquidate or enforce
remedies on their prepetition claims in violation of the
automatic stay.

The Claimants filed proofs of claim against LBHI as contingent
and unliquidated claims in undetermined amounts arising from a
guarantee, dated June 27, 2008, made by LBHI in favor of the
Trustees, as to obligations by Lehman Brothers Limited and any
other participating employer of the Pension Scheme.  TPR
commenced proceedings in a United Kingdom court against LBHI and
certain debtors based on a purported funding shortfall in the
Pension Scheme.

TPR's and the Claimants' violations of the automatic stay should
not be countenanced, and its actions should be deemed void ab
initio, Shai Y. Waisman, Esq., at Weil, Gotshal & Manges LLP, in
New York, argues.  TPR and the Claimants should also be subject
to sanctions if they participate in the UK Pension Proceedings in
any manner that affects LBHI's assets, estates, or the
administration of its Chapter 11 case, he adds.

Mr. Waisman explains that LBHI's estate is comprised of property
of the estate "wherever located and by whomever held" under
Section 541(a) of the Bankruptcy Code and, thus, is within the
exclusive jurisdiction of the U.S. Bankruptcy Court.  The UK
Pension Proceedings affect the assets of LBHI's estate, he says.
He points out that the decision of the United States Bankruptcy
Court for the District of Delaware in In re Nortel Networks
Corp., 426 B.R. 84 (Bankr. D. Del. 2010), provided TPR with
notice that it was required to request relief from the automatic
stay in order to commence the UK Pension Proceedings against any
U.S. debtor, and the Nortel decision provided the Claimants with
notice that they would violating the automatic stay by
participating in the UK Pension Proceedings.  Further, the Nortel
decision provided notice that the UK Pension Proceedings are not
subject to the exception to the automatic stay in Section
362(b)(4).  Nevertheless, rather than seeking relief from the
automatic stay, TPR commenced the UK Pension Proceedings by
issuing a warning notice to LBHI and certain of its non-Debtor
affiliates, he says.

In order to protect its rights, assets, estate, and creditors,
LBHI has participated in the UK Pension Proceedings to date.  On
August 9, 2010, LBHI submitted written representations to a panel
appointed by TPR.  Other parties, including the Trustees, and a
U.S. attorney for the Claimants, despite notice from Nortel that
doing so would violate the automatic stay, have also submitted
written representations and a witness statement to the
Determinations Panel.  "Skeleton arguments" are due from each
side on August 31, 2010, and an oral hearing before the
Determinations Panel has been scheduled for September 8-9, 2010.

The Bankruptcy Court will convene a hearing on the Debtors'
request on September 1, 2010.  Objections are due August 30.

                        About Lehman Brothers

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

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

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

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

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

              International Operations Collapse

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

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

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


LEHMAN BROTHERS: Judge Peck Approves Plan Deal With Innkeepers
--------------------------------------------------------------
Judge James Peck of the U.S. Bankruptcy Court for the Southern of
New York, who is handling Lehman Brothers and its affiliates'
Chapter 11 cases, has entered an order empowering Lehman
Commercial Paper Inc. to consent to Lehman ALI Inc.'s entry into
the plan support agreement related to the proposed restructuring
of Innkeepers USA Trust and provide funds to Solar Finance Inc.
for purposes of extending debtor-in-possession financing to
Innkeepers.

Judge Peck held that no further Court approval will be required
in connection with any modification of the terms and conditions
of the Transaction so long as (a) the Transaction includes a
conversion of debt to New Equity and the sale of 50% of the New
Equity for a price not less than $107.5 million, (b) the amount
advanced by LCPI for the purposes of Solar Finance extending the
DIP Facility does not exceed $17.5 million, and (c) the Debtors
have obtained the approval of the Official Committee of Unsecured
Creditors to those modifications.

Under the PSA, Lehman ALI Inc., would get 100% equity in the
reorganized Innkeepers.  The PSA also calls for Lehman ALI to sell
50% of its equity to Apollo Investment Corp. for $107.5 million.

Lehman ALI is a lender of Innkeepers, which filed for bankruptcy
protection last month.  It holds a $220.2 million secured claim
against the hotel investment company, which stemmed from the
$250 million loan that it provided to fund parts of the
$1.8 billion buyout of Innkeepers by Apollo.

The remainder of Innkeepers' plan would have secured creditors,
owed $825 million, to receive $550 million in fixed-rate
mortgages on the 45 properties that are their collateral.
Another $206 million in mortgages on seven properties would
be reduced by the plan to $150 million. Innkeepers' general
unsecured creditors are to receive $500,000 cash.

                     About Innkeepers USA Trust

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

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

Apollo Investment Corporation acquired Innkeepers in June 2007.

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

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

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

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

                        About Lehman Brothers

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

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

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

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

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

              International Operations Collapse

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

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

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


LEHMAN BROTHERS: Judge Peck Resumes Trial on Suit Against Barclays
------------------------------------------------------------------
Judge James Peck of the U.S. Bankruptcy Court for the Southern
District of New York resumed the trial on the disputes relating to
the sale of the assets of financial giant Lehman Brothers Inc.
in September 2008.

Barclays Capital Inc. purchased most of the Lehman Brothers'
North American broker-dealer assets following the company's
bankruptcy filing on September 15, 2008.  The sale was approved
by the Bankruptcy Court barely a week after.  Lehman Brothers
Holdings Inc. and its debtor affiliates has asked the Court to
reconsider the order authorizing the sale of the North American
business to Barclays Capital following the results of LBHI's
investigation into the sale, showing that the deal that closed
differed materially from the one approved by the Court.  The
investigation, according to the Debtors, showed that the deal was
actually structured to give Barclays "immediate and enormous
windfall profit" in the sum of $8.2 billion.

      Lehman Didn't Oppose Changes to Deal, Barclays Assert

A key drafter of a clarification letter that made last-minute
changes to the terms of the 2008 buyout of the North American
broker-dealer unit said that no one from Lehman Brothers opposed
the terms of the letter, according to an August 24 report by Dow
Jones.

Barclays' lawyer, Edward Rosen, Esq., at Cleary Gottlieb Steen &
Hamilton, who added some key words to the letter to clarify which
of LBHI's assets were being sold to Barclays, said that he only
heard the company complaining about the changes in the months
following the sale, the report said.

The clarification letter is a key element of LBHI's lawsuit
against Barclays, which accuses the British bank of arranging a
"secret" discount price of $45 billion for the assets worth about
$50.6 billion.

"It would have been a shock to me based on what I had seen if
anyone had said, 'Oh, you're adding something new," Mr. Rosen
said during the trial.

The trial, which resumed this week after nearly a two-month
break, pits Barclays against LBHI, which wants to claw back more
than $11 billion that Barclays allegedly pocketed in the deal.

At the trial, on behalf of Lehman brothers, William Maguire,
Esq., at Hughes Hubbard & Reed, asked Mr. Rosen about the
$1 billion in cash being held in a Wells Fargo & Co. bank account
that was transferred to Barclays without adequate disclosure to
the bankruptcy court, Dow Jones reported.

Mr. Maguire cited earlier testimony from one of LBHI's key
negotiating lawyers, Harvey Miller of Weil Gotshal & Manges, who
said "there was no way" the $1 billion would go to Barclays.  Mr.
Maguire also questioned the witness on several comments made by
Mr. Miller about how certain money should not be transferred from
LBHI to Barclays.  But Mr. Rosen said he was not present for many
of those comments, according to the report.

In addition to the $1 billion in cash, Mr. Maguire identified an
additional $769 million worth of securities that was allegedly
transferred to Barclays but was never disclosed, Dow Jones
reported.

LBHI is not trying to identify one source of the $5 billion
discount but rather to prove how the transfer of smaller sums of
money added up to the discount.

Another Barclays' witness, Mark Shapiro, who heads the British
bank's restructuring group, said he thinks most of the
information mentioned in the clarification letter came out in the
bankruptcy court after the 2008 asset purchase agreement was
signed.  He said, however, that he had never seen the letter and
was never asked to review it after it was written.

When asked by LBHI's lawyer, Robert Gaffey of Jones Day, whether
the marked value of the assets was a number LBHI came to by
itself or with the help of Barclays, Mr. Shapiro said that the
word "discount" was never discussed in front of him.

Mr. Shapiro, who was former head of LBHI's restructuring group,
also testified that LBHI could not value its holdings with
certainty in the days before the sale.  He pointed out that the
2008 agreement which estimated the value of LBHI's securities at
$70 billion was made at a time when the company was getting
"blown out of positions."

LBHI could not also find a transaction better than its deal with
Barclays since there were no alternative buyers and the value of
the company's assets was plummeting quickly, Mr. Shapiro further
said.

At the trial, Barclays also aired video of the January deposition
of Barry Ridings, managing director and restructuring chief of
Lazard Freres & Co., which served as LBHI's investment banker in
the 2008 deal.

Mr. Ridings' testimony included talk of the back-and-forth
between Barclays and LBHI about the value of some of the assets,
which may prove that what LBHI calls a "secret discount" was not
a secret at all, Dow Jones further reported.

        Judge Peck Wants Witnesses to Appear in Person

Joseph Checkler, writing for Dow Jones Daily Bankruptcy Review,
reported that Judge James Peck advised lawyers for both Lehman
Brothers and Barclays to stop showing video testimony of
witnesses that work in New York, even though the two sides have
agreed the protocol is okay.

Dow Jones related that after Barclays lawyer David Boies, Esq.,
at Boies, Schiller & Flexner played recorded testimony from
Lazard Freres & Co. managing director Barry Ridings -- Lehman's
investment banker in the sale -- Judge Peck was asked to rule on
whether he'd accept video deposition from another Barclays
witness, Shari Leventhal, the New York Federal Reserve's general
counsel.  Lehman thought the line of questioning would be
irrelevant.

According to Dow Jones, Judge Peck told both sides, "The system
is really designed for searching the truth from witnesses that
are appearing live."  He added, "I'm not really happy having to
spend the afternoon looking at Mr. Ridings' video rather than
looking at Mr. Ridings."  Judge Peck said he "loves" seeing live
witnesses when the public is present and "testimony really
counts," Dow Jones related.

"I don't want to see video when there's a witness who can be here
in person," Judge Peck said.  "I don't like it.  I prefer that you
don't do it.  It appears tactical, and it's not going to help
you."

Dow Jones relates Mr. Boies said Barclays would hold off on the
video and call Ms. Leventhal to testify in person.

                       Possible Settlement

Contract experts said Judge Peck may encourage a settlement to
avoid undoing a sale he approved, with Barclays paying less than
it risks in a court-ordered judgment, according to an August 23
report by Bloomberg News.

"[Judge] Peck might signal to Lehman and Barclays that he very
much wants this settled," Bloomberg News quoted Lynn LoPucki, a
bankruptcy-law professor at Harvard Law School.  "Judges have
ways of pressuring lawyers and litigants to settle."

If LBHI needs prodding to settle, Judge Peck might signal to its
lawyers that their fees might not all be approved.  To pressure
Barclays to settle, the bankruptcy judge might make things
difficult for its lawyers or for key witnesses, Ms. LoPucki told
Bloomberg News.

George Kuney, who teaches bankruptcy and contract law at the
University of Tennessee College of Law, said future potential
buyers of distressed assets might offer to pay less if Judge Peck
undoes the sale because of the risk the deal would be unwound.

"Especially in a large transaction, a judge would be reticent to
overturn the sale order absent a clear showing of fraud or other
impermissible action," Bloomberg News quoted Mr. Kuney as saying.

                        About Lehman Brothers

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

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

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

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

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

              International Operations Collapse

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

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

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


LEHMAN BROTHERS: Reaches Deal With LBI Trustee on Avoidance Suits
-----------------------------------------------------------------
Lehman Brothers Holdings Inc. and James W. Giddens, as trustee for
the Securities Investor Protection Act liquidation of Lehman
Brothers Inc., inked a stipulation with respect to joint claims
asserted and joint adversary proceedings commenced pursuant to
Sections 544, 547, 548 and 550 of the Bankruptcy Code.

The Parties and the Official Committee of Unsecured Creditors
have been working collaboratively to determine which entities
have a right to the claims in the Avoidance Proceedings and the
amounts to be recovered through pursuit, prosecution, and
settlement of the Avoidance Proceedings.  The Parties agree that
it is in their collective interest and in the interests of their
respective estates and creditors to commence the Avoidance
Proceedings expeditiously and in a coordinated fashion to
maximize recoveries to their estates.

Pursuant to the stipulation:

  1. The Trustee and the Debtors may each pursue individually
     any Avoidance Proceedings, which are agreed upon by the
     Parties to belong exclusively to each of them.  The Trustee
     and the Debtors will not pursue or prosecute, or share in
     Avoidance Proceeds recovered through, any Avoidance
     Proceedings agreed between the Parties to be exclusive
     Avoidance Proceedings, unless otherwise agreed by the
     Parties.

  2. With respect to any Avoidance Proceeding that the parties
     have agreed is neither an LBI Avoidance Proceeding nor a
     Debtor Avoidance Proceeding and that that Avoidance
     Proceeding should be pursued jointly by both Parties, the
     Parties will, prior to filing any complaint with respect to
     the Joint Avoidance Proceeding, agree that either (a) a
     joint complaint will be filed listing both Parties as
     co-plaintiffs, in each instance the Parties designating one
     Party to be the lead plaintiff or (b) one Party will
     designate the other Party to pursue the Joint Avoidance
     Proceeding by assigning, transferring, and conveying to
     Assignee, in a writing to be executed by both Parties, all
     of Assignor's rights to pursue the Joint Avoidance
     Proceeding.

  3. An Assignment will not in any way affect any right of the
     Assignor to Avoidance Proceeds recovered through the Joint
     Avoidance Proceeding subject to the Assignment.

  4. With respect to any Joint Avoidance Proceeding seeking to
     avoid and recover transfers made to third parties in
     amounts over $5 million, prior to agreeing to any proposed
     compromise and settlement with respect to any such Joint
     Avoidance Proceeding and seeking Court approval thereof as
     required, the Parties will consult with each other in an
     effort to reach agreement on the terms of the proposed
     Settlement.  If the Parties are unable to agree that the
     terms of a proposed Settlement are acceptable, the Party
     proposing the Settlement will be required to file a motion
     with the Court seeking approval of the Settlement in order
     to consummate the Settlement.

  5. Avoidance Proceeds recovered through Settlement or
     prosecution of a Joint Avoidance Proceeding will be placed
     in an account to be agreed upon by the Parties.  No monies
     other than Shared Avoidance Proceeds will be deposited in
     the Avoidance Proceeds Account.

Each Party reserves any and all rights it may have to receive, or
to allege in a legal proceeding or otherwise that it is entitled
to receive, any and all Shared Avoidance Proceeds.

The Debtors will continue to consult regularly with the
Creditors' Committee regarding Avoidance Proceedings that are
being pursued by the Parties, including LBI Avoidance
Proceedings, Debtor Avoidance Proceedings, and Joint Avoidance
Proceedings, any Settlements proposed with respect to Joint
Avoidance Proceedings, and any Avoidance Proceeds recovered by
the Parties.  Furthermore, the Debtors will provide the
Creditors' Committee with updates on the progress of Joint
Avoidance Proceedings.

                        About Lehman Brothers

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

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

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

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

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

              International Operations Collapse

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

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

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


LEHMAN BROTHERS: Wins Nod to Guarantee Payment of Lazard Fees
-------------------------------------------------------------
Lehman Brothers Holdings Inc. received approval from Judge James
Peck of the U.S. Bankruptcy Court for the Southern District of New
York to guarantee the payment of fees and expenses of Lazard
Freres & Co. LLC for services provided to Lehman ALI Inc.

Lehman ALI employed the firm as its investment banker in
connection with the restructuring of Innkeepers USA Trust, a
hotel investment company that filed for bankruptcy protection
early last month.  Lehman ALI is a lender of the hotel investment
company.

LBHI will only be required to pay Lazard if either Innkeepers or
Lehman ALI fails to pay the firm, according to Shai Waisman,
Esq., at Weil Gotshal & Manges LLP, in New York.

Mr. Waisman further says that LBHI will be reimbursed by Lehman
Commercial Paper Inc., an affiliate of Lehman ALI, if ever it
pays the firm's fees and expenses.

Lazard is paid a monthly fee of $150,000 for its services and
will get $1.5 million if Innkeepers' restructuring is
consummated.

In addition to guaranteeing Lazard's fees and expenses, LBHI will
also guarantee the payment of Innkeepers' indemnification
obligations to its investment banker.

                     About Innkeepers USA Trust

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

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

Apollo Investment Corporation acquired Innkeepers in June 2007.

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

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

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

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

                        About Lehman Brothers

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

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

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

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

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

              International Operations Collapse

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

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

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


LEXICON UNITED: Posts $13,672 Net Income in June 30 Quarter
-----------------------------------------------------------
Lexicon United Inc. filed its quarterly report on Form 10-Q,
reporting net income of $13,672 on $1.31 million of total revenues
for the three months ended June 30, 2010, compared with net income
of $6,460 on $930,475 of total revenues for the same period a year
ago.

The Company's balance sheet at June 30, 2010, showed $3.17 million
in total assets, $3.15 million in total liabilities, and $16,210
in stockholders' equity.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?69ea

                       About Lexicon United

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

As reported in the Troubled Company Reporter on May 25, 2010,
Meyler & Company, LLC, in Middletown, N.J., expressed substantial
doubt about the Company's ability to continue as a going concern
following the Company's 2009 results.  The independent auditors
noted that the Company continues to have negative cash flows from
operations, recurring losses from operations, and has a
stockholders' deficit.


LODGENET INTERACTIVE: Par Investment Acquires 4.75MM Shares
-----------------------------------------------------------
Par Investment Partners LP disclosed acquiring 4,759,927 shares of
common stock of Lodgenet Interactive Corp. on August 25, 2010.
According to Par's Form 4 filing with the Securities and Exchange
Commission, the common shares relate to 7,500 shares of 10%
Convertible Preferred Stock exercisable at the option of the
holder into 1,984,127 shares of common stock.  Par directly holds
those shares.

At August 3, 2010, there were 25,088,164 shares outstanding of the
Company's common stock, $0.01 par value.

PAR Group, L.P., is the general partner of PIP.  PAR Group
disclaims beneficial ownership of these securities except to the
extent of the pecuniary interest, if any, in such securities as a
result of PAR Group's general partner interest in PIP and
contingent right to receive a performance-based advisory fee.

PAR Capital Management, Inc., is the general partner of PAR Group
which is the general partner of PIP.  PCM disclaims beneficial
ownership of these securities except to the extent of the
pecuniary interest, if any, in such securities as a result of
PCM's general partner interest in PAR Group.

                    About LodgeNet Interactive

Sioux Falls, South Dakota-based LodgeNet Interactive Corporation
(Nasdaq:LNET) -- http://www.lodgenet.com/-- provides media and
connectivity solutions designed to meet the unique needs of
hospitality, healthcare and other guest-based businesses.
LodgeNet Interactive serves more than 1.9 million hotel rooms
worldwide in addition to healthcare facilities throughout the
United States.  The Company's services include: Interactive
Television Solutions, Broadband Internet Solutions, Content
Solutions, Professional Solutions and Advertising Media Solutions.
LodgeNet Interactive Corporation owns and operates businesses
under the industry leading brands: LodgeNet, LodgeNetRX, and The
Hotel Networks.

The Company's balance sheet at June 30, 2010, showed
$466.45 million in total assets, $522.34 million in total
liabilities, and a stockholders' deficit of $55.89 million.

                          *     *     *

As reported by the Troubled Company Reporter on June 21, 2010,
Standard & Poor's Ratings Services affirmed its ratings on Sioux
Falls, S.D.-based LodgeNet Interactive, including the 'B-'
corporate credit rating.  At the same time, S&P revised the rating
outlook to positive from stable.


LONE TREE: Files for Chapter 11 in Phoenix
------------------------------------------
Lone Tree Investments LLC filed for Chapter 11 on August 24 in
Phoenix (Bankr. D. Ariz. Case No. 10-26776).

Bill Rochelle, the bankruptcy columnist for Bloomberg News,
relates that Lone Tree proposes to finance the reorganization with
$1 million borrowed from the majority owner.  The DIP loan would
have a security interest coming ahead of the prepetition lender's
mortgages.

Lone Tree owes $24.3 million to the secured construction lender
Johnson Bank.

Lone Tree is the owner of the Pine Canyon development in
Flagstaff, Arizona.  The property consists of a residential
community, golf course, and related facilities.  Pine Canyon said
in the court filing that property has been appraised for more than
$60 million.


MEDCLEAN TECHNOLOGIES: Posts $1.08-Mil. Net Loss in June 30 Qtr.
----------------------------------------------------------------
MedClean Technologies Inc. filed its quarterly report on Form
10-Q, reporting a net loss of $1.08 million on $131,758 of sale
and service revenues for the three months ended June 30, 2010,
compared with a net loss of $2.667 million on $354,755 of sale and
service revenues for the same period a year ago.

The Company's balance sheet at June 30, 2010, showed $2.49 million
in total assets, $2.54 million in total liabilities, and a $45,852
stockholders' deficit.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?69f7

                   About MedClean Technologies

Based in Bethel, Connecticut, MedClean Technologies, Inc.,
provides solutions for managing medical waste on site including
designing, selling, installing and servicing on site (i.e. "in-
situ") turnkey systems to treat regulated medical waste.

The Company's balance sheet at March 31, 2010, showed $1,785,501
in total assets, $2,122,063 in total liabilities, and
stockholders' deficit of $336,562.

As reported in the Troubled Company Reporter on March 8, 2010,
Child, Van Wagoner & Bradshaw, PLLC, in Salt Lake City, expressed
substantial doubt about the Company's ability to continue as a
going concern, after auditing the Company's financial statements
for the year ended December 31, 2009.  The independent auditors
noted that of the Company's substantial recurring losses.


MEXICANA AIRLINES: American Airlines Assists Affected Customers
---------------------------------------------------------------
American Airlines and its regional affiliate, American Eagle,
disclosed that they are assisting customers affected by
oneworld(R) partner, Mexicana Airlines' decision to cease
operations indefinitely.   Mexicana filed for bankruptcy
protection in the U.S. and Mexico on Aug. 2, and suspended ticket
sales on Aug. 4.

Subsequently, Mexicana announced significant capacity reductions
between Mexico and the West Coast, as well as on other
international routes.  Effective Saturday, Aug. 28 at noon,
Mexicana and its affiliates MexicanaClick and MexicanaLink
suspended all operations indefinitely.

American and American Eagle are offering a special 20 percent
discount off any published fare for customers holding tickets for
confirmed bookings on cancelled Mexicana flights.  Under this
offer, American and American Eagle will replace a customer's
current travel itinerary with a new confirmed ticket to their
original destination.  Changes to the closest airport served by
American or American Eagle are permitted only if American or
American Eagle does not fly into the original destination.  This
offer is only valid for travel on American and American Eagle
between the U.S. and Mexico within seven days of the original
travel dates. Travel must be completed by Oct. 28, 2010.  Tickets
must be issued by Sept. 5, 2010.

                     About Mexicana Airlines

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

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

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

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

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

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


MICHAELS STORES: Posts $1 Million Net Loss for July 31 Quarter
--------------------------------------------------------------
Michaels Stores Inc. reported unaudited financial results for the
second quarter of fiscal 2010 ended July 31, 2010.  Total sales
for the quarter were $831 million, a 3.0% increase from fiscal
2009 second quarter sales of $807 million. Same-store sales for
the comparable 13-week period increased 2.3%.

John Menzer, Chief Executive Officer, said, "While we had moderate
comparable store sales growth this quarter, we were pleased with
our 210 basis point improvement in gross margin which helped drive
a 48% increase in operating income.  Continued increases in direct
import and focus on pricing and promotional strategies helped
drive improved operating performance for the quarter."

The Company's balance sheet at July 31, 2010, showed $1.58 billion
in total assets, $4.34 billion in total liabilities, and a
stockholders' deficit of $2.75 billion.

For the quarter the Company reported a net loss of $1 million
compared to net income of $2 million for the quarter ended
August 1, 2009.  For the first half of fiscal 2010, the Company
reported net income of $12 million compared to $6 million for
first half of fiscal 2009.

A full-text copy of the Earnings Release is available for free at
http://ResearchArchives.com/t/s?6a5d

                       About Michaels Stores

Headquartered in Irving, Texas, Michaels Stores, Inc., is the
largest arts and crafts specialty retailer in North America.  As
of March 9, 2009, the Company operated 1,105 "Michaels" retail
stores in the United States and Canada and 161 Aaron Brothers
Stores.

At May 1, 2010, the Company had total assets of $1.56 billion,
total liabilities of $4.32 billion, and a stockholders' deficit of
$2.76 billion.

Michaels Stores carries 'B3' corporate family and probability of
default ratings from Moody's Investors Service.  Moody's updated
the ratings from 'Caa1' to 'B3' in June 2010 and said that the
upgrade in the company's ratings reflects recent improvement in
operating performance resulting from higher comparable store sales
and operating margin expansion and Moody's expectations this
improved performance can be sustained.


MONEYGRAM INT'L: Wells Fargo to Assume as Trustee of 401(k) Plan
----------------------------------------------------------------
The trustee and record-keeper for the MoneyGram International Inc.
401(k) Plan said that on Oct. 1, 2010, it will change from T. Rowe
Price to Wells Fargo.  To implement the change, a blackout period
is required that will affect all of the plan's investment options,
including MoneyGram Common Stock.

During the blackout period, participants in the Plan will be
unable to direct or diversify their investments, including
investments in MoneyGram Common Stock, or obtain a loan or
distribution from the Plan.  The company said, "As a director or
executive officer of MoneyGram, you will be subject not only to
the restrictions that apply to all participants in the Plan.  You
are reminded that any other trading restrictions related to
MoneyGram securities that may otherwise apply to you as a director
or executive officer of MoneyGram of which you have been notified
by MoneyGram remain in effect."

"The blackout period will begin Sept. 23, 2010 at 4:00 pm EDT and
end on Oct. 11, 2010 at 10:00 am EDT.  During the Blackout Period,
as a director or executive officer of MoneyGram, you may not
directly or indirectly purchase, sell or otherwise transfer, any
MoneyGram Common Stock acquired in connection with your service or
employment as a director or executive officer of MoneyGram.

"Any profit you realize from any non-exempt transaction involving
Common Stock during the Blackout Period is recoverable by
MoneyGram, and civil and criminal penalties apply if you violate
the Blackout Period restrictions," the company said.

                   About Moneygram International

MoneyGram International, Inc. (NYSE: MGI) --
http://www.moneygram.com/-- is a leading global payment services
company.  The Company's major products and services include global
money transfers, money orders and payment processing solutions for
financial institutions and retail customers.  MoneyGram is a New
York Stock Exchange listed company with 203,000 global money
transfer agent locations in 191 countries and territories.

The Company's balance sheet as of June 30, 2010, showed
$5.461 billion in total assets, $5.450 billion in total
liabilities, $929.2 million in total mezzanine equity, and a
stockholders' deficit of $918.0 million.

                          *     *     *

According to the Troubled Company Reporter on July 1, 2010, Fitch
Ratings has affirmed the Issuer Default Ratings for MoneyGram
International Inc. and MoneyGram Payment Systems Worldwide, Inc.,
at 'B+'.  Outlook is stable.  Fitch noted that the ratings could
be negatively impacted by further declines in remittance volumes
driven by macro economic factors or decreases in migrant labor
populations worldwide.


MPM TECHNOLOGIES: Posts $378,900 Net Loss in June 30 Quarter
------------------------------------------------------------
MPM Technologies Inc. filed its quarterly report on Form 10-Q,
reporting a net loss of $378,903 on $246,739 of total revenues for
the three months ended June 30, 2010, compared with a net loss of
$391,972 on $176,566 of total revenues for the same period a year
ago.

The Company's balance sheet at June 30, 2010, showed $1.23 million
in total assets, $15.00 million in total liabilities, all current,
and a $13.77 million stockholders' deficit.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?69f1

                      About MPM Technologies

Headquartered in Parsippany, N.J., MPM Technologies Inc.
(OTC BB: MPML) -- http://www.mpmtech.com/-- operates through its
three wholly owned subsidiaries: AirPol Inc., NuPower Inc. and MPM
Mining Inc.  During the year ended Dec. 31, 2007, AirPol was the
only revenue generating entity.  AirPol operates in the air
pollution control industry.  It sells air pollution control
systems to companies in the United States and worldwide.

The company through its wholly owned subsidiary NuPower is engaged
in the development and commercialization of a waste-to-energy
process known as Skygas.  These efforts are through NuPower's
participation in NuPower Partnership, in which MPM has a 58.21%
partnership interest.  NuPower Partnership owns 85% of the Skygas
Venture.  In addition to its partnership interest through NuPower
Inc., MPM also owns 15% of the Venture.


NEW LEAF: Posts $3.43 Million Net Loss in June 30 Quarter
---------------------------------------------------------
New Leaf Brands Inc. filed its quarterly report on Form 10-Q,
reporting a net loss of $3.43 million on $1.67 million of net
sales for the three months ended June 30, 2010, compared with net
loss of $7.69 million on $1.19 million of net sales for the same
period a year earlier.

The Company's balance sheet at June 30, 2010, showed $5.92 million
in total assets, $7.39 million in total liabilities, and a
$1.47 million stockholders' deficit.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?69ef

                       About New Leaf Brands

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

                           *     *     *

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


NICKAJACK SHORES: Files for Chapter 11 Bankruptcy Protection
------------------------------------------------------------
Nickajack Shores Holdings LLC filed Chapter 11 protection on
August 20 (Bankr. E.D. Tenn. Case No. 10-34044), estimating assets
of less than $50,000 and liabilities of $10 million to $50
million.

Nickajack Shores is the development firm behind the Rarity Club
project in Marion County.  It owns 71% of Pine Mountain Properties
LLC, which filed for bankruptcy protection in April 2010.

According to Josh Flory at knoxvillebiz.com, Lynn Tarpy, a
bankruptcy attorney for Nickajack Shores, said, "they are trying
to reorganize Nickajack in terms of...seeing what assets it
actually does have, and may be available to use to pay creditors."


NUTRACEA: Plan Confirmation Hearing Scheduled for October 19
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Arizona will convene
a hearing on October 19, 2010, at 11:00 a.m., to consider the
confirmation of the Plan of Reorganization proposed by NutraCea
and its official committee of unsecured creditors.  The hearing
will be held at 230 North First Avenue, Courtroom 601, 6th floor,
Phoenix, Arizona.  Objections, if any, are due 5:00 p.m., Arizona
time, five court days before the hearing date.

Filing of written acceptances or rejections of the Plan is fixed
at October 5.  Completed ballots must be returned to:

     S. Cary Forrester, Esq.
     3636 North Central Avenue, Suite 700
     Phoenix, AZ 85012-1927
     Fax: (602) 271-4300

As reported in the Troubled Company Reporter on August 20,
according to the Disclosure Statement, the Debtor will obtain
funds by selling certain of its assets, including: (a) the real
property and improvements located at 4502 West Monterosa Street,
in Phoenix, Arizona, that are owned by Debtor's wholly-owned
subsidiary, NutraPhoenix, LLC; (b) the real property and
improvements located in Dillon, Montana; and, (c) certain excess
equipment.  The Debtor will also obtain funds through: (a) a
secured loan or equity sale; (b) a loan to or equity sale by its
wholly-owned Nutra SA, LLC, subsidiary; or, (c) a loan secured by,
or a sale of a portion of, its 80% ownership interest in, Rice
Science, LLC and/or its 50% interest in Rice Rx, LLC. These funds
will be used to pay all Allowed Claims on or after the Effective
Date, as detailed in the Plan, with all payments anticipated to be
completed by January 15, 2012.  Payments to creditors must meet
certain benchmarks and will be overseen by a Plan Agent.  The
Debtor's shareholders will retain their stock and their legal,
equitable and contractual rights will not be altered, although
previously authorized shares may be issued.

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

                          About NutraCea

NutraCea is a world leader in production and utilization of
stabilized rice bran.  NutraCea holds many patents for stabilized
rice bran (SRB) production technology and proprietary products
derived from SRB.  NutraCea's proprietary technology enables the
creation of food and nutrition products to be unlocked from rice
bran, normally a waste by-product of standard rice processing.

Phoenix, Arizona-based Nutracea, a California corporation, filed
for Chapter 11 bankruptcy protection on November 10, 2009 (Bankr.
D. Ariz. Case No. 09-28817).  S. Cary Forrester, Esq., at
Forrester & Worth, PLLC, assists the Company in its restructuring
effort.  The Company estimated assets of $50 million to
$100 million and debts of $10 million to $50 million in its
Chapter 11 petition.


OSHKOSH CORPORATION: Moody's Upgrades Corp. Family Rating to 'Ba3'
------------------------------------------------------------------
Moody's Investors Service has upgraded Oshkosh's CFR and PDR to
Ba3 to reflect the significant improvement in the company's debt
levels due to the strong performance of its defense business.  The
stable ratings outlook reflects the belief that the company is
well positioned in the rating category.

                        Ratings Rationale

The primary factors that resulted in the ratings upgrade include
the significant reduction in the company's debt levels balanced
against the expectation that its contract to produce MRAP-All
Terrain Vehicles for the Afghanistan war is expected to wind-down
over the next year.  Moody's anticipate that the company's
revenues, operating income, and EBITDA will decline in 2011 as the
company's defense department contracts are expected to peak in
2010.  Additionally, the company's non-defense businesses are
mostly stabilizing and should improve over time as the natural
equipment replacement cycle of access equipment and fire trucks
takes hold and as the economy improves.

Upgrades:

Issuer: Oshkosh Corporation

  -- Probability of Default Rating, Upgraded to Ba3 from B1

  -- Corporate Family Rating, Upgraded to Ba3 from B1

  -- Senior Secured Bank Credit Facility, Upgraded to Ba2, LGD3,
     36% from Ba3, LGD3, 41%

  -- Senior Unsecured Regular Bond/Debenture, Upgraded to B2 from
     B3

LGD changes:

Issuer: Oshkosh Corporation

  -- Senior Unsecured Regular Bond/Debenture, changed to LGD5, 89%
     from LGD5, 88%

The SGL-1 was affirmed.

The ratings outlook is stable.

The rating is unlikely to be further upgraded over the near term
as the defense business is winding down and the company's non-
defense businesses are still building a post recession track
record.  Leverage under 2.5 times that was deemed to be
sustainable could result in a positive ratings outlook.

The ratings and/or outlook could be negatively affected if the
company were unable to meet its commitments to produce the M-ATV
as contracted or at the profitability level anticipated by
Moody's.  If the company's other businesses are still weak or show
limited improvement prospects at the time the M-ATV contract winds
down, the ratings outlook could come under pressure.  A reduction
in free cash flow to total debt below 8% would create rating
pressure as would EBITDA to interest below 3 times.

Moody's last rating action on Oshkosh was on February 23, 2010
when Moody's rated the company's proposed $500 million senior
unsecured notes B3 and upgraded the company's 1st lien senior
secured credit facility comprised of a $550 million revolver and
$1.9 billion Term loan B to Ba3 from B1.

Oshkosh Corporation is a leading designer, manufacturer and
marketer of a broad range of specialty vehicles and vehicle
bodies.  The company operates in four segments: access equipment,
defense, fire & emergency, and commercial.  Oshkosh's JLG
subsidiary is the world's leading producer of access equipment
including aerial work platforms and telehandlers.  Oshkosh
revenues for the twelve months ended June 30, 2010 totaled
approximately $9.2 billion.


PATIENT SAFETY: Marc Rose Steps Down as Chief Financial Officer
---------------------------------------------------------------
Patient Safety Technologies Inc. said Marc L. Rose resigned as
chief financial officer effective Aug. 31, 2010.

                 About Patient Safety Technologies

Patient Safety Technologies, Inc. (OTC: PSTX) --
http://www.surgicountmedical.com/-- through its wholly owned
operating subsidiary SurgiCount Medical, Inc., provides the
Safety-Sponge(TM) System, a system designed to improve the
standard of patient care and reduce health care costs by
preventing the occurrence of surgical sponges and other retained
foreign objects from being left inside patients after surgery.
RFOs are among one of the most common surgical errors.

                           *     *     *

In its March 31, 2010 report, Squar, Milner, Peterson, Miranda &
Williamson, LLP, in San Diego, California, noted that the
Company's significant recurring net losses through December 31,
2009, and significant working capital deficit as of December 31,
2009, raise substantial doubt about the Company's ability to
continue as a going concern.

The Company's balance sheet at March 31, 2010, showed
$10.1 million in total assets, $15.3 million in total liabilities,
and a $5.1 million stockholders' deficit.


PACIFIC AVENUE: Sept. 15 Hearing on Bank Request for Examiner
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of North
Carolina will convene a hearing on September 15 to consider a
request by Regions Bank for an examiner to review EpiCentre's
bookkeeping and, as an alternative, a Chapter 11 trustee to over
Pacific Avenue and Pacific Avenue II, limited liability companies
that control the EpiCentre.

Susan Stabley, staff writer at Charlotte Business Journal, reports
that the EpiCentre's ownership companies have a suit pending
against Regions in bankruptcy court.  Pacific Avenue contends it
had an agreement with the bank to reduce its required payment on
the loan by $40 million.  Regions denies that it agreed to modify
the loan.

Moore & Van Allen represents Regions Bank.

                         About Pacific Avenue

Pacific Avenue, LLC, is a North Carolina limited liability company
whose principal place of business is located in Charlotte, North
Carolina.  Together with Pacific Avenue II, LLC, the Company owns
and operates the EpiCentre, a mixed-use commercial development
consisting of approximately 302,000 rentable square feet of office
and retail/entertainment space, plus an underground parking deck,
located at 210 E. Trade St. in the city block surrounded by the
light rail line, Fourth Street, College Street, and Trade Street
in uptown Charlotte, North Carolina.

Pacific Avenue, LLC, filed for Chapter 11 bankruptcy protection on
July 22, 2010 (Bankr. W.D. N.C. Case No. 10-32093).  Joseph W.
Grier, III, Esq., at Grier, Furr & Crisp, P.A., assists the
Company in its restructuring effort.  The Company estimated up to
$50,000 in assets and $50,000,001 to $100,000,000 in debts in its
bankruptcy petition.

The Company's affiliate, Pacific Avenue II, filed a separate
Chapter 11 petition.


PATIENT SAFETY: Gets $427,000 Cash Under Tax Escrow Agreement
-------------------------------------------------------------
Patient Safety Technologies Inc. received on August 19, 2010, a
cash payment of $427,700 from the escrow agent under its tax
escrow agreement.

As disclosed in the Company's Quarterly Report on Form 10-Q for
the quarter ended June 30, 2010, during that quarterly period a
contingent tax liability was reduced by $427,700 based primarily
on the expiration of the federal statute of limitations relating
to certain 2006 income.  In addition, the Company expected that
the $427,700 will be released from the escrow account during the
quarter ending September 30, 2010 based on the reduction in the
contingent tax liability.  The August 19th payment represents the
payment of those expected funds.

                 About Patient Safety Technologies

Patient Safety Technologies, Inc. (OTC: PSTX) --
http://www.surgicountmedical.com/-- through its wholly owned
operating subsidiary SurgiCount Medical, Inc., provides the
Safety-Sponge(TM) System, a system designed to improve the
standard of patient care and reduce health care costs by
preventing the occurrence of surgical sponges and other retained
foreign objects from being left inside patients after surgery.
RFOs are among one of the most common surgical errors.

                           *     *     *

In its March 31, 2010 report, Squar, Milner, Peterson, Miranda &
Williamson, LLP, in San Diego, California, noted that the
Company's significant recurring net losses through December 31,
2009, and significant working capital deficit as of December 31,
2009, raise substantial doubt about the Company's ability to
continue as a going concern.

The Company's balance sheet at March 31, 2010, showed
$10.1 million in total assets and $15.3 million in total
liabilities, for a $5.1 million total stockholders' deficit.


PROTOSTAR LTD: Seeks Plan Exclusivity Until November 29
-------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will
convene a hearing on September 30, 2010, at 11:30 a.m. (prevailing
Eastern time), to consider ProtoStar Ltd., et al.'s fourth request
of an extension of their exclusive periods to propose, and solicit
acceptances for, a Chapter 11 plan.  Objections, if any, are due
on September 13, at 4:00 p.m.

The Debtors request for an approval to file and solicit
acceptances for their proposed Chapter 11 Plan until November 29,
2010, and January 26, 2011, respectively.

The Debtors need additional time and opportunity to finalize and
confirm the Plan.

Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that conclusion of the case is being held up by a lawsuit
the Official Committee of Unsecured Creditors is prosecuting
against secured lenders to invalidate their liens on the ProtoStar
I satellite.  The Committee believes the lenders filed notices of
the security interests in the wrong place.

                       About ProtoStar Ltd.

Hamilton, HM EX, Bermuda-based ProtoStar Ltd. is a satellite
operator formed in 2005 to acquire, modify, launch and operate
high-power geostationary communication satellites for direct-to-
home satellite television and broadband internet access across the
Asia-Pacific region.

The Company and its affiliates filed for Chapter 11 on July 29,
2009 (Bankr. D. Del. Lead Case No. 09-12659).  The Debtor selected
Pachulski Stang Ziehl & Jones LLP as Delaware counsel; Law Firm of
Appleby as their Bermuda counsel; UBS Securities LLC as financial
advisor & investment banker and Kurtzman Carson Consultants LLC as
claims and noticing agent.  The Debtors have tapped UBS Securities
LLC as investment banker and financial advisor.

Also on July 29, 2009, ProtoStar and its affiliates, including
ProtoStar Development Ltd., commenced a coordinated proceeding in
the Supreme Court of Bermuda.  John C. McKenna of Finance & Risk
Services Ltd. as liquidator of the Bermuda Group.

In their Chapter 11 petitions, the Debtors each estimated assets
and debts of $100 million and US$500 million.  As of December 31,
2008, ProtoStar's consolidated financial statements, which include
non-debtor affiliates, showed total assets of $463,000,000 against
debts of $528,000,000.


R & E INVESTMENTS: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: R & E Investments, Inc.
        1137 E. Curry Rd.
        Tempe, AZ 85281

Bankruptcy Case No.: 10-27258

Chapter 11 Petition Date: August 26, 2010

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

Judge: George B. Nielsen Jr.

Debtor's Counsel: Dale C Schian, Esq.
                  SCHIAN WALKER, P.L.C.
                  3550 N. Central Ave. #1700
                  Phoenix, AZ 85012-2115
                  Tel: (602) 277-1501
                  Fax: (602) 297-9633
                  E-mail: ecfdocket@swazlaw.com

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

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

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

The petition was signed by Elizabeth Reizner, president.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
RWR Property Management, Inc.          10-25378    08/11/10


RCLC INC: Posts $4.15 Million Net Loss in June 30 Quarter
---------------------------------------------------------
RCLC Inc., formerly known as Ronson Corporation, and its
subsidiaries incurred a net loss of $4.15 million on zero revenues
in the quarter ended June 30, 2010, compared with net loss of
$481,000 on zero revenues in the same period a year earlier.

The Company's balance sheet at June 30, 2010, showed
$10.94 million in total assets, $14.83 million in total current
liabilities, $305,000 in other long-term liabilities, and a
$4.19 million stockholders' deficit.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?69e9

                          About RCLC Inc.

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

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

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

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


ROBERT SUNSERI, JR.: Case Summary & 5 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Robert L. Sunseri, Jr.
        340 Golfside Drive
        Wexford, PA 15090

Bankruptcy Case No.: 10-26039

Chapter 11 Petition Date: August 26, 2010

Court: U.S. Bankruptcy Court
       Western District of Pennsylvania (Pittsburgh)

Judge: Jeffery A. Deller

Debtor's Counsel: Mary Bower Sheats, Esq.
                  3300 Gulf Tower
                  707 Grant Street
                  Pittsburgh, PA 15219
                  Tel: (412) 471-5931
                  Fax: (412) 471-7351
                  E-mail: mbsheats@fbmgg.com

Scheduled Assets: $1,531,245

Scheduled Debts: $1,115,300

A list of the Debtor's five largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/pawb10-26039.pdf


ROTHSTEIN ROSENFELDT: Chapter 11 Trustee Seeks to Probe Retailers
-----------------------------------------------------------------
Jacqueline Palank at Dow Jones' Daily Bankruptcy Review reports
that Herbert Stettin, the trustee liquidating Rothstein Rosenfeldt
Adler PA, is seeking information from several retailers where
Scott Rothstein, his wife and the firm spent thousands of dollars
on numerous shopping sprees.

According to DBR, Mr. Stettin on Friday filed papers in bankruptcy
court notifying the stores that they are to make a representative
available for a deposition and turn over all invoices and
documents related to specific purchases by the Rothsteins and
Rothstein Rosenfeldt Adler.  According to DBR, Mr. Stettin wants
to know who made each purchase, what was bought, the amount paid
and method of payment.  He's also seeking any correspondence
exchanged between the retailers and the Rothsteins.

According to DBR, the full list of the stores Mr. Stettin is
seeking to question are: Aldo, Bebe, Bergdorf Goodman,
Bloomingdale's, Burberry, Cache, Circuit City, Coach, Ermare Shoes
Inc., Gym Source, Jimmy Choo, Louis Vuitton, Lucky Brand Jeans,
Michael Kors, Nordstrom, Online Shoes.com, Pacific Sunwear, Saks
Fifth Avenue, Shop 603, Solstice Sun Glass, Tiffany & Co., Touch
Clothing and XTC on Melrose.

                    About Rothstein Rosenfeldt

Scott Rothstein, co-founder of law firm Rothstein Rosenfeldt Adler
PA, has been suspected of running a $1.2 billion Ponzi scheme.
U.S. authorities claimed in a civil forfeiture lawsuit filed
November 9, 2009, that Mr. Rothstein, the firm's former chief
executive officer, sold investments in non-existent legal
settlements.  Mr. Rothstein pleaded guilty to five counts of
conspiracy and wire fraud on January 27, 2010.

Creditors of Rothstein Rosenfeldt Adler signed a petition sending
the Florida law firm to bankruptcy (Bankr. S.D. Fla. Case No.
09-34791).  The petitioners include Bonnie Barnett, who says she
lost $500,000 in legal settlement investments; Aran Development,
Inc., which said it lost $345,000 in investments; and trade
creditor Universal Legal, identified as a recruitment firm, which
said it is owed $7,800.  The creditors alleged being owed money
invested in lawsuit settlements.

Herbert M. Stettin, the state-court appointed receiver for
Rothstein Rosenfeldt, was officially carried over as the Chapter
11 trustee in the involuntary bankruptcy case.

On June 10, 2010, Mr. Rothstein was sentenced to 50 years in
prison.


ROYAL HOSPITALITY: Files Schedules of Assets & Liabilities
----------------------------------------------------------
Royal Hospitality LLC has filed with the U.S. Bankruptcy Court for
the Northern District of New York its schedules of assets and
liabilities, disclosing:

  Name of Schedule                    Assets          Liabilities
  ----------------                    ------          -----------
A. Real Property                   $12,500,000
B. Personal Property                  $932,001
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                      $10,012,171
E. Creditors Holding
   Unsecured Priority
   Claims                                                   $8,453
F. Creditors Holding
   Unsecured Non-priority
   Claims                                               $1,134,146
                                    -----------        -----------
      TOTAL                         $13,432,001        $11,154,770

Lake George, New York-based Royal Hospitality LLC, dba Comfort
Suites, filed for Chapter 11 protection on August 19, 2010 (Bankr.
N.D.N.Y. Case No. 10-13090).  Richard L. Weisz, Esq., at Hodgson
Russ LLP, assists the Debtor in its restructuring effort.


ROYAL HOSPITALITY: Section 341(a) Meeting Scheduled for Sept. 27
----------------------------------------------------------------
The U.S. Trustee for Region 2 will convene a meeting of Royal
Hospitality LLC's creditors on September 27, 2010, at 10:00 a.m.
The meeting will be held at 74 Chapel Street, Hearing Room 101,
Ground Floor, Albany, NY 12207.

This is the first meeting of creditors required under Section
341(a) of the U.S. Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Lake George, New York-based Royal Hospitality LLC, dba Comfort
Suites, filed for Chapter 11 protection on August 19, 2010 (Bankr.
N.D.N.Y. Case No. 10-13090).  Richard L. Weisz, Esq., at Hodgson
Russ LLP, assists the Debtor in its restructuring effort.
According to its schedules, the Debtor disclosed $13,432,001 in
total assets and $11,154,770 in total liabilities as of the
Petition Date.


SAINT VINCENTS: St. Joseph's Viable Buyer for Westchester Unit
--------------------------------------------------------------
Crain's New York Business reports that in shopping around St.
Vincent's Westchester, advisers to Saint Vincent Catholic Medical
Centers -- Grant Thornton, Cain Brothers and Shattuck Hammond --
contacted some 25 potential purchasers, of which 12 conducted due
diligence.  According to Crain's, only St. Joseph's Hospital was a
viable purchaser, according to reasons laid out in bankruptcy
court documents.

According to Crain's, the sellers felt other buyers weren't keen
because of statewide cuts to Medicaid reimbursement rates for
psychiatric services, effective Oct. 1, that "impact the financial
feasibility of assuming operation" of St. Vincent's behavioral
health unit.  In addition, the buyer had to be an acute care
hospital so as not to jeopardize roughly half of the behavioral
health unit's revenue that is derived from Medicaid, Crain's
relates.  According to the report, a psychiatric facility must be
linked to a hospital to be reimbursed under Medicaid for patients
between 21 and 65 years of age.

As reported by the Troubled Company Reporter, the Debtor has a
deal to sell its inpatient and outpatient behavioral health
services operations in Westchester County, New York, to St.
Joseph's Medical Center.  The price is $18 million cash and the
assumption of $5 million in debt.

                            About SVCMC

Saint Vincents Catholic Medical Centers -- http://www.svcmc.org/
-- was 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).

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

Although the hospitals emerged from the prior reorganization in
July 2007 with a Chapter 11 plan said to have "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.

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


SEEQPOD, INC: Intertrust Technologies Acquires Assets
-----------------------------------------------------
Intertrust Technologies Corporation has acquired all software and
patents developed by SeeqPod, Inc. via Chapter 7 Bankruptcy
proceeding. Intertrust has not acquired the domain names used by
the company.

The heuristic search algorithms in SeeqPod's technology portfolio
were originally developed for searching medical research databases
at Lawrence Berkeley National Laboratories.  The award-winning
technologies have broad applicability for identifying hidden
patterns in data that are distributed across the Internet,
including indexing and finding playable search results for audio,
video, podcasts and text.

The SeeqPod music search service that initially used these
technologies shut down in 2009 in the midst of copyright
litigation.

"SeeqPod's technologies are remarkably efficient at finding highly
accurate pattern matches over large distributed networks like the
Internet," said Dave Maher, executive vice president and chief
technology officer for Intertrust. "Intertrust plans to use
SeeqPod's breakthrough technology in distributed search systems in
a variety of applications and services for Internet television,
targeted advertising, recommendation systems, electronic music
distribution and healthcare information services."

In addition to maintaining a world-class research and development
laboratory, Intertrust invests in disruptive media and trusted
third-party services ventures such as SyncTV, and the music
distribution service Beyond Oblivion, Inc. that will benefit from
the acquired technologies.

Headquartered in Silicon Valley, Intertrust --
http://www.intertrust.com/-- invents, develops, and licenses
technologies and intellectual property for digital rights
management (DRM) and trusted computing.  The company holds over
150 patents and has over 300 patent applications pending
worldwide.  Intertrust's inventions enable a broad range of
products that use DRM and trusted computing technologies,
including operating systems, digital media platforms, consumer
electronics and mobile computing devices, web services, and secure
enterprise automation. Through its wholly-owned subsidiary
Seacert, Intertrust provides trust management services for the
Marlin and OMA DRM standards.


SHERWOOD/CLAY: Plan of Reorganization Wins Court Approval
---------------------------------------------------------
The Hon. Douglas D. Dodd of the U.S. Bankruptcy Court for the
Middle District of Louisiana confirmed Sherwood/Clay-Austin Lights
LLC's Plan of Reorganization.

As reported in the Troubled Company Reporter on February 23, 2010,
the Plan contemplates payment of all allowed claims against the
Debtor based upon the sale of the property to New Hope Investors
II, L.L.C., the purchaser.  It is not anticipated that the holders
of membership interest will receive any distribution.

All property of the estate and the property will be transferred to
the purchaser on the effective date.

Under the Plan, each holder of an allowed general unsecured claim
will receive a monthly payment of interest only at the rate of
7.0% annum, commencing 30 days after the effective date, with a
balloon payment of all unpaid principal and interest and other
sums comprising the allowed Class 4 claim due and payable in full
on the fifth anniversary of the effective date.  Estimated
percentage recovery is 100% of the $235,539 claim.

The purchaser will act as the disbursing agent under the Plan and
make all distributions required under the Plan.

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

               About Sherwood/Clay-Austin Lights LLC

Baton Rouge, Louisiana-based Sherwood/Clay-Austin Lights LLC filed
for Chapter 11 bankruptcy protection on November 2, 2009 (Bankr.
M.D. La. Case No. 09-11725).  Douglas S. Draper, Esq., who has an
office in New Orleans, Louisiana, assists the Company in its
restructuring efforts.  The Company estimated assets and
liabilities at $10 million to $50 million in its Chapter 11
petition.


SHERWOOD/CLAY: Can Sell Property to Legg Mason for $17.7 Million
----------------------------------------------------------------
The Hon. Douglas D. Dodd of the U.S. Bankruptcy Court for the
Middle District of Louisiana authorized Sherwood/Clay-Austin
Lights LLC, to sell property of the estate to Legg Mason Real
Estate CDO I, Ltd.

Legg Mason will purchase all of Debtor's and all of the Bankruptcy
estate's right, title, and interest in all of the assets,
property, rights and claims of the Bankruptcy Estate for
$17,688,469.

Legg Mason's principal offices are located at 10880 Wilshire
Boulevard, Suite 1750, Los Angeles, California.

               About Sherwood/Clay-Austin Lights LLC

Baton Rouge, Louisiana-based Sherwood/Clay-Austin Lights LLC filed
for Chapter 11 bankruptcy protection on November 2, 2009 (Bankr.
M.D. La. Case No. 09-11725).  Douglas S. Draper, Esq., who has an
office in New Orleans, Louisiana, assists the Company in its
restructuring efforts.  The Company estimated assets and
liabilities at $10 million to $50 million.


SMITHFIELD FOODS: S&P Affirms Corporate Credit Rating at 'B-'
-------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its ratings on
Smithfield, Va.-based Smithfield Foods Inc., including the 'B-'
corporate credit rating, and revised the outlook to stable from
negative.  Smithfield Foods had reported debt outstanding of about
$3 billion as of May 2, 2010.

"The outlook revision to stable from negative reflects S&P's
opinion that higher hog prices should result in improved operating
performance over the next year," said Standard & Poor's credit
analyst Christopher Johnson.  The latest USDA World Agriculture
Supply and Demand Estimates projects hog prices to improve by
about 30% year over year to $54-$55 per hundredweight.  S&P
believes Smithfield's can operate its hog production segment
profitably at these prices, which should lead to improved
operating performance and credit measures.  S&P believes the
company can grow EBITDA to more than $600 million over the next
year and reduce debt to EBITDA to closer to 4x or lower while
maintaining adequate liquidity.  Still, S&P recognize that this
forecast can ary significantly given the history of volatility in
Smithfield's earnings.

The ratings on Smithfield Foods Inc. reflect its hog production
segment's history of very weak operating performance, albeit
likely to improve over the next year; the volatility of feed
costs; the cyclicality of the swine industry; and the company's
very high debt leverage.

Although Smithfield benefits from its position as the leading
producer, processor, and marketer of fresh and processed pork in
the U.S., the company continued to incur losses in its key hog
production business in fiscal 2010.  However, fiscal 2010 losses
were smaller than those in fiscal 2009 because feed costs
improved.  Moreover, hog prices are expected to remain
meaningfully above Smithfield's break-even raising costs, which
should lead to profits over the next year.  In addition,
Smithfield has announced a cost-saving initiative aimed at
obtaining $80 million or more in annual savings on top of the
costs savings that the company has obtained from its pork segment
operations.

The stable outlook reflects S&P's opinion that Smithfield's hog
production operations should turn profitable in fiscal 2011,
resulting in improved credit measures and adequate liquidity over
the next year.  However, S&P could lower the ratings over the near
term if the company's liquidity were materially pressured due to
its inability to stabilize its operations.  S&P believes this
could occur if the company were to continue to incur hog
production losses in excess of $400 million while pork segment
margins contract by more than 300 basis points.  S&P would not
consider a higher rating until the company reduces debt leverage
to well below the 8x area, maintains adequate liquidity (including
addressing its sizeable maturities beyond fiscal 2011), and
demonstrates sustained improvement in its hog production
operations.


SOUTH BAY: ORC Wants Lift Stay to Resolve Issues With Insurers
--------------------------------------------------------------
Through the "Owner Controlled Insurance Program" for its SR 125
project, South Bay Expressway, L.P., purchased insurance coverage
of various types for the benefit of itself, Otay River
Constructors and certain other parties.

By this motion, ORC seeks the Court's permission to negotiate or
finalize settlements with insurance companies for claims brought
by ORC under certain policies, under which ORC is an additional
insured or that ORC may otherwise be paid for covered claims as to
which the debtors have no entitlement to the proceeds.

ORC assures Judge Louise DeCarl Adler that it does not seek to
liquidate or litigate any of its various claims against the
Debtors.  ORC also seeks, to the extent necessary, for relief from
the automatic stay so that it and South Bay may finalize certain
disputes related to insurance settlements and actions relating to
these policies:

  -- the Zurich American Professional Liability Policies;
  -- the AXIS Surplus Insurance Company Builder's Risk Policy;
  -- the Lexington Insurance Company Builders Risk Policy; and
  -- the Zurich American Insurance Company Builders Risk Policy.

David L. Osias, Esq., at Allen Matkins Leck Gamble Mallory &
Natsis LLP, in San Diego, California, tells the Court that the
request is directed primarily at South Bay.  Nevertheless, ORC
asks for relief from stay with respect to Debtor California
Transportation Ventures, Inc., as well to whatever extent is
necessary to afford complete relief.  He notes that South Bay is
usually the party named as the insured.

Accordingly, ORC asks that the Court to enter an order granting
relief from the automatic stay to allow:

  (a) Zurich American Insurance Company to pay to ORC covered
      defense costs under the Zurich American Insurance Company
      Professional Liability policies;

  (b) AXIS Surplus Insurance Company to investigate an
      irrigation main line-break claim and pay ORC in accordance
      with the policy;

  (c) Lexington Insurance Company to deposit $285,402 into an
      interest-bearing escrow account and allow the
      interpleader action filed by Lexington against ORC and
      South Bay to proceed only far enough to have the action
      dismissed, with no disbursements from the escrow account
      without the written consent of South Bay and ORC or entry
      of a Court order or, with further relief from stay, any
      other court or arbitration panel with jurisdiction over
      the escrowed funds; and

  (d) the action filed by ORC against Zurich American to
      continue so that the district court may hear from Banco
      Bilbao Vizcaya Argentaria, S.A., and approve the
      prepetition settlement between South Bay and ORC and
      authorize the disbursement of the escrowed funds to ORC.

                   About South Bay Expressway

South Bay Expressway, L.P., dba San Diego Expressway, L.P., filed
for Chapter 11 on March 22, 2010 (Bankr. S.D. Calif. Case No.
10-04516).  Its affiliate, California Transportation Ventures
Inc., also filed for bankruptcy.

The Debtors developed and operate a four lane, nine mile express
toll road in Southern California commonly referred to as the South
Bay Expressway or State Road 125.  Both estimated assets and debts
of $500 million to $1 billion in their bankruptcy petitions.

Robert Pilmer, Esq., at Kirkland & Ellis LLP, represents the
Debtors in their restructuring effort.  PricewaterhouseCoopers LLP
is auditor and tax advisor.  Imperial Capital LLC is financial
advisor. Epiq Bankruptcy Solutions LLC serves as claims and notice
agent.

The Debtors say that as of the bankruptcy filing, they have
roughly $640 million in book value of total assets and roughly
$570 million in book value of total liabilities.

Bankruptcy Creditors' Service, Inc., publishes South Bay
Expressway Bankruptcy News.  The newsletter tracks the Chapter 11
proceeding undertaken by South Bay Expressway LP and California
Transportation Ventures Inc.  (http://bankrupt.com/newsstand/or
215/945-7000).


STANT CORP: Plan Outline Hearing Scheduled for October 1
--------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will
consider on October 1, 2010, at 10:00 p.m., the adequacy of the
Disclosure Statement explaining Stant Corp., nka SPC Seller Inc.,
et al.'s Plan of Reorganization.

Objections, if any, are due on September 24 at 4:00 p.m.

As reported in the Troubled Company Reporter on June 14, according
to the Disclosure Statement proposed by the Debtors and the
Official Committee of Unsecured Creditors, the Plan provides for
the purchaser to assume the DIP facility claims and senior secured
lenders claims and deemed paid in full pursuant to the APA and
sale order.

By consent, the holders of junior prepetition note claims will
receive the Northstar consideration (a) $100,000; and (b) warrants
for $1.75% of the fully diluted common equity of the purchaser.

Holders General unsecured claims have an estimated percentage
recovery of 2.51% to 3.01%.

The Plan cancels all interests in the Debtors.  Holders of
interests will receive no distribution under the Plan.

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

If the Plan process goes on schedule, the Hon. Brendan L. Shannon
will convene a hearing to consider confirmation of the Plan on
November 4.  Objections, if any, would be due on October 27 at
4:00 p.m.

                        About Stant Corp.

Stant Corp. and five affiliated companies filed for Chapter 11
bankruptcy protection on July 27, 2009 (Bankr. D. Del. 09-12647).
Sandra G.M. Selzer, Esq., and Scott D. Cousins, Esq., at Greenberg
Traurig, LLP, in Wilmington, Delaware, serve as the Debtors'
counsel.  In its petition, Stant Corp. estimated $50 million to
$100 million in debts against $50 million to $100 million in
assets.


STONERIDGE INC: S&P Gives Stable Outlook, Affirms 'B+' Rating
-------------------------------------------------------------
Standard & Poor's Ratings Services said it has revised its outlook
on Stoneridge Inc. to stable from negative and affirmed its
ratings on the company, including the 'B+' corporate credit
rating.

"A substantial increase in light-vehicle production in North
America and commercial-truck production in North America and
Europe, combined with substantial cost reductions, has boosted
Stoneridge's sales and profitability," said Standard & Poor's
credit analyst Lawrence Orlowski.  "Consequently, the outlook
revision reflects S&P's opinion that Stoneridge's credit measures
continue to improve and will fall in line with S&P's expectations
for the rating by the end of 2010 or early 2011."

Moreover, major restructuring initiatives have reduced the
company's cost structure and laid the foundation for higher
profitability.  By the end of 2009, the company had lowered its
costs, excluding restructuring, by $99.3 million from 2008's
levels.  S&P expects profitability to be solid despite some
expected margin pressures in the near term.  S&P also expects
structural costs to rise over time, but S&P thinks the sharp
downturn has permitted Stoneridge to permanently reduce its cost
base.

Stoneridge makes electrical and electronic components and systems
for the light- and commercial-vehicle markets in North America
(81% of revenues) and the rest of the world (19%).  The company
has two reportable segments: electronics (63%) and control devices
(37%).

S&P considers the company's business risk profile to be weak,
reflecting the highly competitive and cyclical character of
Stoneridge's end markets, combined with the company's relatively
small scope and scale.  Together, S&P believes these factors limit
the company's ability to mitigate adverse business, financial, or
economic conditions.  In addition, Stoneridge's customer base is
somewhat concentrated; the largest single customer, Navistar
International Corp., provided about 27% of revenue in 2009.  The
Michigan-based automakers accounted for roughly 18% of revenues
and a majority of the company's North American light-vehicle-
related business.

The stable outlook reflects recovery in automotive and commercial-
truck demand that is enabling the company's credit measures to
return to levels appropriate for the rating.  S&P could raise the
rating if auto and commercial-truck demand showed a sustained
rebound, leading to an improvement in revenue and margin expansion
that, in turn, substantially boosted credit quality.  This could
occur if, for instance, revenues in 2010 rose 30% from 2009
results and gross margins moved above 24.5%, causing leverage to
fall below 3.5x on a sustained basis.

S&P could lower the rating if revenue declines or margin
deterioration were worse than S&P currently expect, leading to
declining credit measures.  This could occur if, for instance,
revenues in 2010 rose less than 20% from 2009 results and gross
margins moved below 23.5%, causing leverage to increase above 4.0x
on a sustained basis.  S&P could also lower the rating if the
company were to use significant cash in 2010.


STRIKEFORCE TECH: Posts $1.54 Million Net Loss in June 30 Quarter
-----------------------------------------------------------------
StrikeForce Technologies Inc. filed its quarterly report on Form
10-Q, reporting a net loss of $1.54 million on $47,534 of revenues
for the three months ended June 30, 2010, compared with net loss
of $688,693 on $63,067 of revenues for the same period a year ago.

The Company's balance sheet at June 30, 2010, showed $53,957 in
total assets, $10,148,980 in total liabilities, and a
$10,095,023 stockholders' deficit.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?69f8

                         About StrikeForce

Edison, N.J.-based StrikeForce Technologies, Inc., a software
development and services company that offers a suite of integrated
computer network security products using proprietary technology.


SWIFT CORP: S&P Raises Corporate Credit Rating to 'B-' From 'CCC+'
------------------------------------------------------------------
Standard & Poor's Ratings Services said that it has raised its
ratings on U.S.-based Swift Corp., including the corporate credit
rating to 'B-' from 'CCC+'.  At the same time, S&P revised the
outlook to positive from stable.

"The ratings on Swift Corp. reflect its participation in the
highly fragmented, cyclical, and capital-intensive truckload -- TL
-- trucking segment; the company's highly leveraged financial
profile; and its limited liquidity," said Standard & Poor's credit
analyst Anita Ogbara.  "The company's position as one of the
largest TL carriers in the U.S. and growing positions in the
intermodal and dedicated trucking businesses somewhat offset these
factors.  S&P characterizes the company's business profile as weak
and its financial profile as highly leveraged."

Currently, Standard & Poor's adjusted funds from operations-to-
total debt ratio is in the 5%-10% range and total debt to EBITDA
exceeds 6.5x (privately held Swift does not publicly disclose
financial results).  Cost-reduction initiatives, efficiency
improvements, and reduced overhead have partially offset soft
demand.  Still, weaker-than-expected earnings resulted in FFO to
total debt that is below S&P's initial expectations.  Given the
improving operating environment, S&P expects rising tonnage and
increased pricing to result in earnings growth, positive free cash
flow, and improved liquidity.  S&P's expectations for the current
rating include total debt to EBITDA of about 6x and FFO to total
debt around 10%.

The outlook is positive.  S&P expects modest improvement in
earnings and cash flow over the next several quarters.  "S&P could
raise the ratings if the company uses proceeds from an initial
public offering to reduce debt, strengthen liquidity, and improve
its capital structure.  On the other hand, S&P could revise the
outlook to stable if the initial public offering does not move
forward," Ms. Ogbara added.


TELKONET INC: Posts $483,566 Net Income in June 30 Quarter
----------------------------------------------------------
Telkonet Inc. reported it second quarter results for the period
ended June 30, 2010.  The Company has reflected MSTI Holdings,
Inc. results of operations in the condensed consolidated statement
of operations through the date of the disposal as discontinued
operations for all periods presented.

For the quarter ended June 30, 2010, Telkonet had revenue of
$3.2 million, an increase of 2%, compared to $3.1 million in the
quarter ended June 30, 2009.  The Company's revenue for the
quarter ended June 30, 2010 increased by 23% when compared to the
quarter ended March 31, 2010.  The Company reported gross margins
of 58% for the quarter ended June 30, 2010 compared to 57% for the
quarter ended June 30, 2009, and 53% for the quarter ended March
31, 2010.

For the six months ended June 30, 2010, the Company had revenue of
$5.8 million, a decrease of 4% compared to $6.0 million in the six
months ended June 30, 2009.  The Company reported gross margins of
56% for the six months ended June 30, 2010 compared to 55% for the
six months ended June 30, 2009.

The Company reported net income in the quarter ended June 30, 2010
of $483,566 compared to net income of $7.4 million in the quarter
ended June 30, 2009.  Net income for the quarter ended June 30,
2009 included a gain from deconsolidation of $6.8 million, or
$0.07 per share.

The Company had a positive adjusted EBITDA, a non-GAAP1 measure,
in the quarter ended June 30, 2010 of approximately $217,000
compared to a negative adjusted EBITDA of $185,000 in the quarter
ended June 30, 2009.

Telkonet, Inc. reported a net loss of $0.2 million for the six
months ended June 30, 2010, when compared to net income of $6.3
million for the six months ended June 30, 2009. Net income in 2009
includes a $6.3 million net gain on the deconsolidation of MST.
Telkonet had a negative adjusted EBITDA, a non-GAAP measure, of
approximately $314,000 for the six months ended June 30, 2010,
an improvement of 44% compared to negative adjusted EBITDA of
$565,000 for the six months ended June 30, 2009.

"This quarter demonstrates the significant progress achieved
through implementation of our strategic and long term planning
initiatives as we continue to position ourselves securely in the
Clean Technology market place," stated Jason Tienor, Telkonet's
President and CEO. "We've made considerable strides in
strengthening our organization and our technology and expertise
continue to solidify our positioning in the Clean Technology
space.  We believe the foundation for profitable operations has
been established through our solid and diverse revenue pipeline,
growing partner network, strong margins and our efforts towards
strengthening the balance sheet and attaining much needed growth
capital."

A full-text copy of the Earnings Release is available for free
at http://ResearchArchives.com/t/s?6a56

                          About Telkonet

Milwaukee, Wisconsin-based Telkonet, Inc. is a clean technology
company that develops and manufactures proprietary energy
efficiency and smart grid networking technology.

RBSM LLP, in New York, expressed substantial doubt about the
Company's ability to continue as a going concern, following the
Company's 2009 results.  The independent auditors noted that of
the Company's significant operating losses in the current year and
in the past.


TELOS CORP: June 30 Balance Sheet Upside-Down by $108 Million
-------------------------------------------------------------
Telos Corporation had total assets of $74.875 million, total
liabilities of $183.635 million, and a stockholders' deficit of
$108.760 million as of June 30, 2010.

Telos reported net income of $767,000 for the three months ended
June 30, 2010, from net income of $1.062 million for the same
period in 2009.  Telos reported net income of $507,000 for the six
months ended June 30, 2010, from net income of $488,000 for the
same period in 2009.

Revenues were $48.157 million for the three months ended June 30,
2010, from $68.621 million for the same period in 2009.  Revenues
were $117.005 million for the six months ended June 30, 2010, from
$119.302 million for the same period in 2009.

A full-text copy of the Company's Form 10-Q report is available at
no charge at http://ResearchArchives.com/t/s?6a53

Based in Ashburn, Virginia, Telos Corporation --
http://www.telos.com/-- is an information technology solutions
and services company addressing the needs of U.S. Government and
commercial customers worldwide.


THOMAS PRICE: Section 341(a) Meeting Scheduled for Sept. 29
-----------------------------------------------------------
The U.S. Trustee for Region 18 will convene a meeting of Thomas W.
Price's creditors on September 29, 2010, at 12:30 p.m.  The
meeting will be held at Courtroom J, Union Station, 1717 Pacific
Avenue, Tacoma, WA 98402.

This is the first meeting of creditors required under Section
341(a) of the U.S. Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Tacoma, Washington-based Thomas W. Price filed for Chapter 11
protection on August 17, 2010 (Bankr. W.D. Wash. Case No. 10-
46732).  Noel P. Shillito, Esq., at Shillito & Giske PS, assists
the Debtor in his restructuring effort.  The Debtor estimated his
assets at up to $50,000 and debts at $100 million to $500 million
as of the Petition Date.


THOMAS PRICE: Wants Filing of Schedules Extended Until Sept. 21
---------------------------------------------------------------
Thomas and Patricia Price ask the U.S. Bankruptcy Court for the
Western District of Washington to extend the deadline for the
filing of schedules of assets and liabilities until September 21,
2010.

The Debtors say that they need additional time to prepare and file
their balance of schedules.  The Debtors are working to compile
the necessary documentation so that their counsel can prepare the
paperwork, but need additional time to insure that the paperwork
filed with the Court is complete and accurate.

Tacoma, Washington-based Thomas W. Price filed for Chapter 11
protection on August 17, 2010 (Bankr. W.D. Wash. Case No. 10-
46732).  Noel P. Shillito, Esq., at Shillito & Giske PS, assists
the Debtor in his restructuring effort.  The Debtor estimated his
assets at up to $50,000 and debts at $100 million to $500 million
as of the Petition Date.


TRANSAX INT'L: Posts $975,500 Net Loss in June 30 Quarter
---------------------------------------------------------
Transax International Limited filed its quarterly report on Form
10-Q, reporting a net loss of $975,480 on $1.05 million of
revenues for the three months ended June 30, 2010, compared with a
net loss of $3.44 million on $1.09 million of revenues for the
same period a year ago.

The Company's balance sheet at June 30, 2010, showed $1.11 million
in total assets, $9.85 million in total liabilities, and a
$8.75 million stockholders' deficit.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?69f9

                   About Transax International

Transax International Limited -- http://www.transax.com/--
primarily through its 55% owned subsidiary, Medlink Conectividade
em Saude Ltda is an international provider of information network
solutions specifically designed for healthcare providers and
health insurance companies.  The Company's MedLink Solution
enables the real time automation of routine patient eligibility,
verification, authorizations, claims processing and payment
functions.  The Company has offices located in Plantation, Florida
and Rio de Janeiro, Brazil.  The Company currently trades on the
OTC Pink Sheet market under the symbol "TNSX" and the Frankfurt
and Berlin Stock Exchanges under the symbol "TX6".

                          *     *     *

As reported in the Troubled Company Reporter on April 21, 2010,
MSPC Certified Public Accountants and Advisors, P.C., in New York,
expressed substantial doubt about the Company's ability to
continue as a going concern.  The independent auditors noted that
the Company has accumulated losses from operations of roughly
$17.2 million, a working capital deficiency of roughly
$6.2 million and a stockholders' deficiency of roughly
$7.4 million at December 31, 2009.


TRIPLE DIAMOND: Case Summary & 10 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Triple Diamond Holdings, LLC
          fdba JenMar Manufacturing, LLC
        405 N. Pleasantville Dr.
        Liberty Center, OH 43532

Bankruptcy Case No.: 10-35877

Chapter 11 Petition Date: August 26, 2010

Court: United States Bankruptcy Court
       Northern District of Ohio (Toledo)

Judge: Richard L. Speer

Debtor's Counsel: Howard E. Mentzer, Esq.
                  MENTZER AND MYGRANT LTD
                  Delaware Building
                  137 S. Main Street, Suite 302
                  Akron, OH 44308
                  Tel: (330) 376-7500
                  E-mail: mvmlaw@earthlink.net

Scheduled Assets: $6,234,827

Scheduled Debts: $13,604,596

A list of the Company's 10 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ohnb10-35877.pdf

The petition was signed by N. Berry Taylor, chief restructuring
officer.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Triple Diamond Plastics, Inc.          09-35938    08/28/09


TRONOX INCORPORATED: Reaches Deal with All Key Creditors on Plan
----------------------------------------------------------------
Tronox Incorporated disclosed that for the first time in its
chapter 11 cases, it has agreed with all of its key creditor
stakeholders on the framework for an amended plan of
reorganization that will settle Tronox's legacy environmental and
tort liabilities and allow it to emerge from chapter 11 in the
coming months.

On Friday, August 27, Tronox filed a motion with the United States
Bankruptcy Court for the Southern District of New York requesting
authority to enter into a plan support agreement and an equity
commitment agreement that will ensure Tronox has the financing
necessary to make the settlement payments contemplated by the
Plan.   According to the filing, the Plan has the full support of
the United States of America, through the Department of Justice,
on behalf of and in consultation with the state, local, tribal and
quasi-governmental authorities who have filed claims against
Tronox, Tronox's official committee of unsecured creditors,
certain holders of Tronox's prepetition unsecured notes who are
backstopping the equity financing needed for the Plan and
representatives of holders of tort claims against Tronox.

Pursuant to the plan support and equity commitment agreements
filed with the Court, Tronox will work with its key stakeholders
to promptly file and seek confirmation of the Plan on the timeline
set forth in the agreements, which requires that Tronox emerge
from chapter 11 by year end.    The terms of the Plan - which will
modify and supersede the plan of reorganization filed on July 7,
2010 - are set forth in a term sheet annexed to both the plan
support agreement and equity commitment agreement, and provide for
the following reorganization transactions:

   * Tronox will reorganize around its existing operating
    businesses, including its facilities at Oklahoma City,
    Oklahoma; Hamilton, Mississippi; Henderson, Nevada; Botlek,
    The Netherlands and Kwinana, Australia;

   * Tronox will rely on a combination of debt and new money
     equity investments to meet its working capital needs and fund
     distributions required by the Plan, which will include (a)
     total funded first lien debt of no more than $468 million,
     (b) the proceeds of a $170 million rights offering open to
     all unsecured creditors and backstopped by the Backstop
     Parties and (c) a $15 million investment by the Backstop
     Parties in exchange for convertible preferred stock with a
     liquidation preference;

   * Government claims related to Tronox's environmental
     liabilities at legacy sites (both owned and non-owned) will
     be settled through the creation of certain environmental
     response trusts and a litigation trust, to which Tronox will
     contribute the following package of improved consideration:
     (i) $270 million in cash, (ii) 88% of Tronox's interest the
     pending Anadarko Litigation, (iii) certain Nevada assets,
     including the real property located in Henderson, Nevada, and
     (iv) certain other insurance and financial assurance assets
     worth at least $50 million.

   * Tort Claimants, who have asserted claims related to potential
     asbestos, benzene, creosote and other liabilities, will
     recover from certain trusts to be created by the Plan to
     which Tronox will contribute the following package of
     improved consideration: (i) $12.5 million in cash, (ii) 12%
     of Tronox's interest in the Anadarko Litigation, and (iii)
     certain insurance assets worth at least $4 million.

   * Holders of general unsecured claims will receive their pro
     rata share of 16.9% of the common equity of reorganized
     Tronox, as well as valuable rights to participate in the
     Rights Offering for an aggregate of up to 78.4% of the common
     equity of reorganized Tronox;

   * Private parties holding indirect environmental claims will
     have their claims split for purposes of sharing in
     distributions to holders of general unsecured claims and
     holders of tort claims;

   * A convenience class will be created consisting of certain
     unsecured claims below $250 that will not be eligible to
     participate in the Rights Offering.  Holders of these claims
     will receive payment in cash equal to 89% of the amount of
     such claims; and

   * Existing holders of equity in Tronox Incorporated will
     receive warrants to purchase their pro rata share of up to 5%
     of the common equity of reorganized Tronox if they vote to
     accept the Plan.

'The execution of the Plan Support Agreement and the Equity
Commitment Agreement, as well as the support of the United States
and the Nevada Parties, represents further progress in our
restructuring and a significant step towards emerging from chapter
11 in the coming months, free of our legacy environmental and tort
liabilities,' said Dennis L. Wanlass, Chairman and Chief Executive
Officer of Tronox Incorporated.  'We appreciate the continued
patience and support of our customers, suppliers and employees as
we work to exit chapter 11 as quickly as possible, and we are
confident that we are taking the appropriate steps to position
Tronox as a financially strong competitor in the titanium dioxide
and specialty chemical industries for years to come.'

Tronox's motion to approve the Plan Support Agreement and the
Equity Commitment Agreement will be considered at a hearing before
the Bankruptcy Court on September 16, 2010 at 11:00 a.m. (ET) or
such other time as the Bankruptcy Court may direct.

Tronox commenced its chapter 11 cases on January 12, 2009.  Tronox
is among the world's leading producers of titanium dioxide pigment
and other specialty chemicals used in the manufacture of products
such as paints, plastics, paper and batteries.

                       About Tronox Inc.

Tronox Inc., aka New-Co Chemical, Inc., and 14 other affiliates
filed for Chapter 11 protection on January 13, 2009 (Bankr.
S.D.N.Y. Case No. 09-10156).  The case is before Hon. Allan L.
Gropper. Richard M. Cieri, Esq., Jonathan S. Henes, Esq., and
Colin M. Adams, Esq., at Kirkland & Ellis LLP in New York,
represent the Debtors.  The Debtors also tapped Togut, Segal &
Segal LLP as conflicts counsel; Rothschild Inc. as investment
bankers; Alvarez & Marsal North America LLC, as restructuring
consultants; and Kurtzman Carson Consultants serves as notice and
claims agent.

An official committee of unsecured creditors and an official
committee of equity security holders have been appointed in the
cases.  The Creditors Committee has retained Paul, Weiss, Rifkind,
Wharton & Garrison LLP as counsel.

Until September 30, 2008, Tronox Inc. was publicly traded on the
New York Stock Exchange under the symbols TRX and TRX.B.  Since
then, Tronox Inc. has traded on the Over the Counter Bulletin
Board under the symbols TROX.A.PK and TROX.B.PK.  As of
December 31, 2008, Tronox Inc. had 19,107,367 outstanding shares
of class A common stock and 22,889,431 outstanding shares of class
B common stock.

Bankruptcy Creditors' Service, Inc., publishes Tronox Bankruptcy
News.  The newsletter tracks the Chapter 11 proceeding undertaken
by Tronox Inc. and its 14 affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


UNIFI INC: Seeks Stockholder's Okay for 1-for-3 Stock Split
-----------------------------------------------------------
Unifi Inc. said it will seek stockholder approval at its 2010
annual meeting of an authorization enabling its Board of Directors
to affect a one-for-three reverse stock split of its common stock.

"Given the recent performance of our stock and the outlook for the
company's future, we believe the reverse stock split of our common
stock will facilitate long-term growth and enhance our shareholder
value," said William L. Jasper, President and Chief Executive
Officer of the Company.

The reverse split will reduce the number of outstanding shares of
the Company's common stock from approximately 60 million shares to
approximately 20 million shares with proportional adjustments
being made to the Company's outstanding stock options.

                         About Unifi

Unifi, Inc. (NYSE: UFI) -- http://www.unifi.com/and
http://www.repreve.com/-- is a diversified producer and processor
of multi-filament polyester and nylon textured yarns and related
raw materials.  The Company adds value to the supply chain and
enhances consumer demand for its products through the development
and introduction of branded yarns that provide unique performance,
comfort and aesthetic advantages.  Key Unifi brands include, but
are not limited to: AIO(R) - all-in-one performance yarns,
SORBTEK(R), A.M.Y.(R), MYNX(R) UV, REPREVE(R), REFLEXX(R),
MICROVISTA(R) and SATURA(R). Unifi's yarns and brands are readily
found in home furnishings, apparel, legwear, and sewing thread, as
well as industrial, automotive, military, and medical
applications.

As reported by the Troubled Company Reporter on November 20, 2009,
Moody's Investors Service revised Unifi, Inc.'s ratings outlook to
stable from negative.  Moody's affirmed the company's Caa1
Corporate Family and Probability of Default Ratings, and the Caa2
rating on its senior secured notes due 2014.


UNIGENE LABORATORIES: Victory Park Holds 9.4% of Shares
-------------------------------------------------------
In a regulatory filing on August 27, Victory Park Credit
Opportunities Master Fund, Ltd., a Cayman Islands exempted
company; Victory Park Capital Advisors, LLC, a Delaware limited
liability company; Jacob Capital, L.L.C., an Illinois limited
liability company; and Richard Levy disclosed holding 8,645,814
shares or roughly 9.4% of the common stock of Unigene
Laboratories, Inc.

The Company had 92,233,551 shares outstanding as of August 2,
2010.

Effective as of July 28, 2010, the Credit Opportunities Fund and
VPC Fund II, L.P., a Delaware limited partnership entered into an
Assignment and Assumption Agreement -- Convertible Note Transfer
Agreement -- pursuant to which the Credit Opportunities Fund sold
and assigned to the VPC Fund a portion of the Convertible Note
equal to $7,103,393.84 in principal amount, plus $396,606.16 in
payment-in-kind interest accrued thereon through the date of the
Convertible Note Transfer Agreement, for a total purchase price of
$7,500,000 in cash.  The funds for such purchase were derived from
the capital of the VPC Fund.

On August 11, 2010, the Company granted to Richard Levy an option
to purchase 75,000 shares of Common Stock, at an exercise price of
$0.52.  The Option becomes exercisable on April 30, 2011, and
expires on August 10, 2021.

                           About Unigene

Unigene Laboratories, Inc. OTCBB: UGNE) -- http://www.unigene.com/
-- is a biopharmaceutical company focusing on the oral and nasal
delivery of large-market peptide drugs.

Unigene's balance sheet at June 30, 2010, showed $27.60 million in
total assets, $60.32 million in total liabilities, and $32.72
million in stockholders' deficit.

Grant Thornton LLP, in New York, expressed substantial doubt about
Unigene Laboratories' ability to continue as a going concern
following the Company's 2009 results.  The firm noted that the
Company has incurred a net loss of $13,400,000 during the year
ended December 31, 2009 and has an accumulated deficit of
approximately $143,000,000 as of December 31, 2009.  As of that
date, the Company's current liabilities exceeded its current
assets by $1,251,000 and its total liabilities exceeded total
assets by $30,442,000.


UNIGENE LABORATORIES: Director Eiref Zvi Acquires 21,000 Shares
---------------------------------------------------------------
Eiref Zvi, a director of Unigene Laboratories Inc., disclosed that
on August 16 and 17, he acquired 21,000 shares of Unigene common
stock, raising his stake to 125,501 shares.  He directly holds
those shares.

The Company had 92,233,551 shares outstanding as of August 2,
2010.

                           About Unigene

Unigene Laboratories, Inc. OTCBB: UGNE) -- http://www.unigene.com/
-- is a biopharmaceutical company focusing on the oral and nasal
delivery of large-market peptide drugs.

Unigene's balance sheet at June 30, 2010, showed $27.60 million in
total assets, $60.32 million in total liabilities, and $32.72
million in stockholders' deficit.

Grant Thornton LLP, in New York, expressed substantial doubt about
Unigene Laboratories' ability to continue as a going concern
following the Company's 2009 results.  The firm noted that the
Company has incurred a net loss of $13,400,000 during the year
ended December 31, 2009 and has an accumulated deficit of
approximately $143,000,000 as of December 31, 2009.  As of that
date, the Company's current liabilities exceeded its current
assets by $1,251,000 and its total liabilities exceeded total
assets by $30,442,000.


UNIGENE LABORATORIES: Registers 5MM Shares Under 2006 Plan
----------------------------------------------------------
Unigene Laboratories, Inc., filed on August 13 with the Securities
and Exchange Commission a Form S-8 Registration Statement under
the Securities Act of 1933 to register additional 5 million shares
of the Company's common stock issuable under its 2006 Stock-Based
Incentive Compensation Plan.

The original registration statement on Form S-8 for the Plan (File
No. 333-137682) registered 3,000,000 shares of Common Stock and
the registration statement on Form S-8 for the Plan (File No. 333-
161364) registered an additional 2,000,000 shares of Common Stock.

                           About Unigene

Unigene Laboratories, Inc. OTCBB: UGNE) -- http://www.unigene.com/
-- is a biopharmaceutical company focusing on the oral and nasal
delivery of large-market peptide drugs.

Unigene's balance sheet at June 30, 2010, showed $27.60 million in
total assets, $60.32 million in total liabilities, and $32.72
million in stockholders' deficit.

Grant Thornton LLP, in New York, expressed substantial doubt about
Unigene Laboratories' ability to continue as a going concern
following the Company's 2009 results.  The firm noted that the
Company has incurred a net loss of $13,400,000 during the year
ended December 31, 2009 and has an accumulated deficit of
approximately $143,000,000 as of December 31, 2009.  As of that
date, the Company's current liabilities exceeded its current
assets by $1,251,000 and its total liabilities exceeded total
assets by $30,442,000.


UNIGENE LABORATORIES: CEO Ashleigh Palmer Acquires 20,000 Shares
----------------------------------------------------------------
Ashleigh Palmer, president and CEO of Unigene Laboratories Inc.,
disclosed that on August 12, 2010, she acquired 20,000 shares of
common stock, raising her stake to 41,200.  She directly holds
those shares.

The Company had 92,233,551 shares outstanding as of August 2,
2010.

                           About Unigene

Unigene Laboratories, Inc. OTCBB: UGNE) -- http://www.unigene.com/
-- is a biopharmaceutical company focusing on the oral and nasal
delivery of large-market peptide drugs.

Unigene's balance sheet at June 30, 2010, showed $27.60 million in
total assets, $60.32 million in total liabilities, and $32.72
million in stockholders' deficit.

Grant Thornton LLP, in New York, expressed substantial doubt about
Unigene Laboratories' ability to continue as a going concern
following the Company's 2009 results.  The firm noted that the
Company has incurred a net loss of $13,400,000 during the year
ended December 31, 2009 and has an accumulated deficit of
approximately $143,000,000 as of December 31, 2009.  As of that
date, the Company's current liabilities exceeded its current
assets by $1,251,000 and its total liabilities exceeded total
assets by $30,442,000.


UNISYS CORP: Files Prospectus for Resale of 5.24MM Shares
---------------------------------------------------------
Unisys Corporation filed with the Securities and Exchange
Commission prospectus supplement no. 7, which supplements the
prospectus filed by the Company on September 14, 2009, as
previously supplemented, relates to the resale from time to time
by selling stockholders of 5,242,165 shares of common stock that
the Company issued on July 31, 2009, in private offers to exchange
certain of the Company's existing senior notes for a combination
of new secured notes, shares of common stock and cash.

The information in the prospectus supplement no. 7 gives effect to
the 1-for-10 reverse stock split of the Company's common stock
that became effective at 11:59 p.m. Eastern time, on October 23,
2009.

A full-text copy of the Company's prospectus is available at no
charge at http://ResearchArchives.com/t/s?6a5e

The Company's common stock trades on the NYSE under the symbol
"UIS."  As of August 13, 2010, there were roughly 42.6 million
shares of the Company's common stock outstanding and 19,243
stockholders of record.

On July 31, 2009, the Company completed its private offers to
exchange certain of its existing senior notes for a combination of
new senior secured notes, shares of common stock and cash.

                           About Unisys

Based in Blue Bell, Pennsylvania, Unisys Corporation (NYSE: UIS)
-- http://www.unisys.com/-- provides a portfolio of IT services,
software, and technology that solves critical problems for
clients.  With more than 26,000 employees, Unisys serves
commercial organizations and government agencies throughout the
world.

The company's balance sheet for June 30, 2010, showed
$2.714 billion in total assets; against total current liabilities
of $1.160 billion, long-term debt of $835.7 million, long-term
postretirement liabilities of $1.507 billion, long-term deferred
revenue of $150.3 million, other long-term liabilities of
$140.2 million, non-controlling interests of $500,000, and
a stockholders' deficit of $1.080 billion.

                           *     *     *

As reported by the Troubled Company Reporter on August 26, 2010,
Standard & Poor's Ratings Services raised its corporate credit
rating on Unisys Corp. to 'B+' from 'B'.  The outlook is stable.

"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.

As reported by the TCR on August 17, 2010, Moody's Investors
Service upgraded Unisys' corporate family rating and probability
of default rating to B1 from B3.  Simultaneously, Moody's upgraded
the company's senior secured 1st lien notes due 2014 to Ba1 from
Ba3, senior secured 2nd lien notes to Ba2 from Ba3, and senior
unsecured notes due 2012, 2015 and 2016 to B2 from Caa1.  The
outlook remains stable.

The rating upgrade reflects Unisys' improved operating performance
over the last year including solid free cash flow, reduced balance
sheet debt, improved liquidity profile and credit metrics, which
Moody's expects will continue in the near term.  After years of
incurring significant restructuring costs, the company has
positioned itself to generate consistent levels of profits and
cash flow.


UNIVERSAL BUILDING: Court Okays Auction of Assets
-------------------------------------------------
Dow Jones' DBR Small Cap reports that a judge signed off on the
sale of Universal Building Products Inc.'s assets in exchange for
$25 million in debt, pending higher offers from rival bidders.

The Debtors intend to sell substantially all of their assets to
UBP Acquisition Corp., an entity formed by certain funds managed
by Oaktree and Solus Alternative Asset Management LP, pursuant to
Sec. 363 of the Bankruptcy Code.

The Troubled Company Reporter, citing netDockets Blog, reported on
August 9 that bidders are required to submit a $2.5 million cash
good faith deposit and minimum bid of $26.5 million, among others.

The Debtors are proposing to pay UBP Acquisition, as the stalking
horse bidder, an $850,000 expense reimbursement and $400,000
break-up fee if it is outbid at the auction.

The TCR on August 25 reported that the Debtors responded to
objections by the U.S. Trustee and the Official Committee of
Unsecured Creditors to the assets sale.

The Creditors Committee has said that the Company's lender is
forcing a "hurried and condensed" bankruptcy process that
discourages would-be buyers from trying to best the $25 million
bid from Oaktree.

The Debtor, however, explained that (i) the scheduling of the sale
is appropriate under the circumstances; and (ii) it is willing to
consider a short extension of the deadlines but the overall
adjournment of the hearing until September 27, 2010, will not be
feasible because the secured creditor UPB Acquisition Corp. is not
willing to provide for an additional funding.

The secured creditor, according to Universal Building, articulated
that it is not willing to fund an open-ended Chapter 11 process
and it prefers to conduct an out of court foreclosure under the
Uniform Commercial Code.

The Debtor related that the Committee's objection will only derail
a process that is the only viable mechanism for certain unsecured
creditors to achieve any recovery.

Absent approval of the proposed DIP financing (including its
conditions regarding the bid procedures, the likely result is
lifting the automatic stay for the secured creditor, dismissal or
conversion to Chapter 7, and no recovery for priority creditors,
the Debtor tells the Court.

Oaktree is a global alternative and non-traditional investment
manager with $75 billion in assets under management as of June 30,
2010.  Solus is a New York-based alternative asset management
firm.  Oaktree and Solus are the majority equity holders of Dayton
Superior Corp., a North American provider of specialized products
for the nonresidential concrete construction market.

                     About Universal Building

Westminster, California-based Universal Building Products, Inc.,
dba UBP, filed for Chapter 11 bankruptcy protection on August 3,
2010 (Bankr. D. Del. Case No. 10-12453).  Mark Minuti, Esq.,
MaryJo Bellew, Esq., and Teresa K.D. Currier, Esq., at Saul Ewing
LLP, assists the Debtor in its restructuring effort.  UBP
estimated $1 million to $10 million in assets and $10 million to
$50 million in debts in its petition.

The Debtor's affiliates Accubrace, Inc. (Bankr. D. Del. Case No.
10-12454), Don De Cristo Concrete Accessories, Inc. (Case No. 10-
12455), Form-Co, Inc. (Case No. 10-12456), and Universal Form
Clamp, Inc. (Case No. 10-12457), filed separate Chapter 11
petitions on August 4, 2010.  Accubrace estimated $500,001 to
$1 million in assets and $10 million to $50 million in debts.


US AEROSPACE: Incurs $1.69 Million Net Loss in June 30 Quarter
--------------------------------------------------------------
U.S. Aerospace Inc. filed its quarterly report on Form 10-Q,
reporting a net loss of $1.69 million on $694,315 of net revenues
for the three months ended June 30, 2010, compared with a net loss
of $858,020 on $1.36 million of net revenues for the same period a
year ago.

The Company's balance sheet at June 30, 2010, showed $5.67 million
in total assets, $12.38 million in total liabilities, and a
$6.71 million stockholders' deficit.

U.S. Aerospace, Inc. -- http://www.USAerospace.com-- is a
publicly traded aerospace and defense contractor based in Southern
California.  The Company supplies aircraft assemblies, structural
components and highly-engineered, precision-machined details for
commercial and military aircraft.


US CONCRETE: Inks Purchase Agreement for 9.5% Convertible Notes
---------------------------------------------------------------
In a regulatory 8-K filing Friday, U.S. Concrete, Inc., discloses
that on August 26, 2010, it entered into a Note Purchase Agreement
among the Company, the direct and indirect domestic subsidiaries
of the Company signatory thereto, the investors listed on the
Schedule of Subscription Parties attached thereto as Annex I that
have properly completed and returned a subscription certificate
and each of the investors set forth on the Schedule of Put Option
Parties attached thereto as Annex II.  Pursuant to the Note
Purchase Agreement, the Company will sell and the Buyers will
purchase the Subscription Amount of 9.5% convertible secured notes
due 2015 at a price of $1,000 for each $1,000 of principal amount
of the Convertible Notes to be purchased, subject in each case to
the satisfaction or waiver of the conditions contained therein.

A full-text copy of the current report on Form 8-K, dated as of
August 26, 2010, is available for free at:

               http://researcharchives.com/t/s?6a5b

A full-text copy of the Note Purchase Agreement is available for
free at http://researcharchives.com/t/s?6a5a

                     About U.S. Concrete

Houston, Tex.-based U.S. Concrete, Inc. -- http://www.us-
concrete.com/ -- is a major producer of ready-mixed concrete,
precast concrete products and concrete-related products in select
markets in the United States.  The Company has 125 fixed and 11
portable ready-mixed concrete plants, seven precast concrete
plants and seven producing aggregates facilities.

The Company filed for Chapter 11 bankruptcy protection on
April 29, 2010 (Bankr. D. Del. Case No. 10-11407).  Patrick J.
Nash Jr., Esq., and Ross M. Kwasteniet, Esq., at Kirkland & Ellis
LLP, assist the Company in its restructuring effort as bankruptcy
counsel.  James E. O'Neill, Esq., Laura Davis Jones, Esq., and
Mark M. Billion, Esq., at Pachulski Stang Ziehl & Jones LLP, is
the Company's co-counsel.  Epiq Bankruptcy Solutions is the
Company's claims agent.

The Company scheduled assets of $389,160,000 and debts of
$399,351,000 as of the Petition Date.

The Debtor's affiliates, Alberta Investments, Inc., et al., filed
separate Chapter 11 petitions on April 29, 2010.

The Company's balance sheet as of June 30, 2010, showed
$403.2 million in total assets, $451.7 million in total
liabilities, and a stockholders' deficit of $48.5 million.

As reported in the Troubled Company Reporter on August 2, 2010,
the Bankruptcy Court has confirmed the Company's Plan of
Reorganization, dated as of June 2, 2010.  As previously
announced, the Company's Plan provides for the conversion of
approximately $285 million of principal amount of 8.375% Senior
Subordinated Notes due 2014 into equity of the reorganized
company.  Trade creditors are currently being paid in full in the
ordinary course and are unaffected by the restructuring.  The
Company currently expects to emerge from Chapter 11 by the end of
August 2010.


US CONCRETE: Wants More Exclusivity Until Plan Consummation
-----------------------------------------------------------
U.S. Concrete, Inc., and its debtor-affiliates, ask the U.S.
Bankruptcy Court for the District of Delaware to extend their
exclusive periods to file and solicit acceptances for their
proposed Plan of Reorganization until October 26, 2010, and
December 27, respectively.

The Debtors relate that their proposed Plan was confirmed and
anticipated to consummate the Plan on August 31.  Out of abundance
of caution, the Debtors are requesting for an extension to protect
their exclusivity rights and maintain flexibility in the case that
an unforeseen event delays or otherwise impeded consummation of
the Plan.

The Debtors propose a hearing on their exclusivity extension on
September 15, 2010, at 2:00 p.m. (prevailing Eastern Time).
Objections, if any, are due on September 8 at 4:00 p.m.

                     About U.S. Concrete

Houston, Texas-based U.S. Concrete, Inc. -- http://www.us-
concrete.com/ -- is a major producer of ready-mixed concrete,
precast concrete products and concrete-related products in select
markets in the United States.  The Company has 125 fixed and 11
portable ready-mixed concrete plants, seven precast concrete
plants and seven producing aggregates facilities.

The Company filed for Chapter 11 bankruptcy protection on
April 29, 2010 (Bankr. D. Del. Case No. 10-11407).  Patrick J.
Nash Jr., Esq., and Ross M. Kwasteniet, Esq., at Kirkland & Ellis
LLP, assist the Company in its restructuring effort as bankruptcy
counsel.  James E. O'Neill, Esq., Laura Davis Jones, Esq., and
Mark M. Billion, Esq., at Pachulski Stang Ziehl & Jones LLP, is
the Company's co-counsel.  Epiq Bankruptcy Solutions is the
Company's claims agent.

The Company scheduled assets of $389,160,000 and debts of
$399,351,000 as of the Petition Date.

The Debtor's affiliates, Alberta Investments, Inc., et al., filed
separate Chapter 11 petitions on April 29, 2010.

The Company's balance sheet as of June 30, 2010, showed
$403.2 million in total assets, $451.7 million in total
liabilities, and a stockholders' deficit of $48.5 million.

As reported in the Troubled Company Reporter on August 2, 2010,
the Bankruptcy Court has confirmed the Company's Plan of
Reorganization.  As previously announced, the Company's Plan
provides for the conversion of approximately $285 million of
principal amount of 8.375% Senior Subordinated Notes due 2014 into
equity of the reorganized company.  Trade creditors are currently
being paid in full in the ordinary course and are unaffected by
the restructuring.  The Company currently expects to emerge from
Chapter 11 by the end of August 2010.


VERASUN ENERGY: Seeks Approval on Union Tank Car $20M Claim
-----------------------------------------------------------
VeraSun Energy Corp. has agreed to allow Union Tank Car Co. to
pursue a $20.6 million claim over rejected leases on railcars,
Bankruptcy Law360 reports.

VeraSun filed a motion Thursday in the U.S. Bankruptcy Court for
the District of Delaware seeking approval of the settlement,
Law360 says.

Headquartered in Sioux Falls, South Dakota, VeraSun Energy Corp.
-- http://www.verasun.com/or http://www.VE85.com/-- produces and
markets ethanol and distillers grains.  Founded in 2001, the
company has a fleet of 16 production facilities in eight states,
with 14 in operation.

The Company and certain affiliates filed for Chapter 11 protection
on October 31, 2008 (Bankr. D. Del. Case No. 08-12606).  Mark S.
Chehi, Esq., at Skadden Arps Slate Meagher & Flom LLP represents
the Debtors in their restructuring efforts.  AlixPartners LLP
serves as their restructuring advisor.  Rothschild Inc. is their
investment banker and Sitrick & Company is their communication
agent.  The Debtors' claims noticing and balloting agent is
Kurtzman Carson Consultants LLC.  The Debtors' total assets as of
June 30, 2008, was $3,452,985,000 and their total debts as of
June 30, 2008, was $1,913,214,000.

VeraSun closed on April 1, 2009, the sale of substantially all of
its assets to Valero Renewable Fuels, a subsidiary of Valero
Energy Corporation, North America's largest petroleum refiner and
marketer.  Valero paid $350 million for the ethanol production
facilities in Aurora, Fort Dodge, Charles City, Hartley and
Welcome, in addition to the Reynolds site.  Valero also
successfully bid $72 million for the Albert City facility and
$55 million for the Albion facility.

VeraSun also completed on April 9 the sale to AgStar Financial
Services PCA of substantially all of the assets relating to the
company's production facilities in Dyersville, Iowa; Hankinson,
North Dakota; Janesville, Minnesota; Central City and Ord,
Nebraska; and Woodbury, Michigan.  AgStar released the USBE
Subsidiaries from their obligations under $319 million of existing
indebtedness and assumed certain liabilities relating to the
AgStar Facilities.

Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the
District of Delaware confirmed on October 23, 2009, the Chapter
11 Plan of Liquidation filed by VeraSun Energy Corporation and
its debtor affiliates


VIP LAND: Case Summary & 8 Largest Unsecured Creditors
------------------------------------------------------
Debtor: VIP Land, Inc.
        180 Abbott Lane
        Madisonville, KY 42431

Bankruptcy Case No.: 10-41412

Chapter 11 Petition Date: August 27, 2010

Court: U.S. Bankruptcy Court
       Western District of Kentucky (Owensboro)

Judge: David T. Stosberg

Debtor's Counsel: Russ Wilkey, Esq.
                  111 W. Second Street
                  Owensboro, KY 42303
                  Tel: (270) 685-6000
                  Fax: (270) 683 2229
                  E-mail: dcwilkey@wilkeylaw.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 eight largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/kywb10-41412.pdf

The petition was signed by Barbara Dallam, president.


VISTEON CORP: Ernst & Young Bills $2.5MM for March-May Work
-----------------------------------------------------------
Pursuant to Sections 330 and 331 of the Bankruptcy Code, seven
of Visteon Corp.'s professionals filed interim fee applications.


Professional              Period          Fees       Expenses
------------             ---------     ----------   ----------
Rothschild Inc.          03/01/10-
                          05/31/10       $750,000      $23,415

Pachulksi Stang Ziehl    03/01/10-
& Jones LLP              05/31/10        177,574       35,416

Deloitte Tax LLP         03/01/10-
                          05/31/10        328,995       136,495

Ernst & Young LLP        03/01/10-
                          05/31/10      2,535,810        40,849

Accretive Solutions-     06/28/10-
Detroit, Inc.            08/01/10         36,091             0

In addition, Hammonds LLP seeks payment of fees for $15,477 and
reimbursement of expenses for $37,578 for the period from May 1 to
June 30, 2010.

                        About Visteon Corp

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is an automotive supplier
that designs, engineers and manufactures innovative climate,
interior, electronic and lighting products for automakers.  The
Company has corporate offices in Van Buren Township, Michigan
(U.S.); Shanghai, China; and Kerpen, Germany.  It has facilities
in 27 countries and employs roughly 35,500 people.  The Company
disclosed assets of US$4,561,000,000 and debts of US$5,311,000,000
as of March 31, 2009.

Visteon Corporation and 30 of its affiliates filed for Chapter 11
protection on May 28, 2009, (Bank. D. Del. Case No. 09-11786
through 09-11818).  Judge Christopher S. Sontchi oversees the
Chapter 11 cases.  James H.M. Sprayregen, Esq., Marc Kieselstein,
Esq., and James J. Mazza, Jr., Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, represent the Debtors in their restructuring
effort.  Laura Davis Jones, Esq., James E. O'Neill, Esq., Timothy
P. Cairns, Esq., and Mark M. Billion, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, serve as the Debtors'
local counsel.  The Debtors' investment banker and financial
advisor is Rothschild Inc.  The Debtors' notice, claims, and
solicitation agent is Kurtzman Carson Consultants LLC.  The
Debtors' restructuring advisor is Alvarez & Marsal North America,
LLC.

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


VISTEON CORP: Seeks Further Expansion of E&Y Services
-----------------------------------------------------
Visteon Corp. and its units seek the Court's authority to expand
the scope of the original application of Ernst & Young LLP's
service provision under a letter agreement dated July 8, 2010,
pursuant to which Ernst & Young provides the Debtors with certain
tax services.

The Debtors have determine that expanding the scope of the
current terms of Ernst & Young's retention to include the
services contemplated by the Additional Services Agreements is in
their best interest and that of their creditors and estates.

A. The Puerto Rico Tax Agreement

   The Debtors require tax assistance in connection with
   proceedings before the Puerto Rico Treasury Department.
   The scope of tax services provided by Ernst & Young to the
   Debtors pursuant to the Puerto Rico Tax Agreement will
   include performing research to determine alternatives
   available to address the Debtors' compliance with Puerto
   Rican tax law requirements, as well as engaging in
   discussions with the Puerto Rican Treasury Department about
   these alternatives.

B. The Loan Staff Agreement

   The Debtors require the assistance of tax professionals in
   completing ministerial and administrative tasks related to
   year 2009 U.S. federal tax returns compliance and
   requirements.  Pursuant to the Loan Staff Agreement, Ernst &
   Young has agreed to provide the Debtors with two tax
   professionals for the purposes of assisting the Debtors with
   this work.

C. The Tax Return Agreement

   The Debtors require assistance in preparing the year 2009
   Puerto Rico corporate income tax return for Debtor Visteon
   Caribbean, Inc.  The services provided by Ernst & Young to
   the Debtors pursuant to the Tax Return Agreement address this
   need.

D. The Compliance Agreement

   The Debtors require assistance in connection with certain tax
   compliance issues.  Pursuant to the Compliance Agreement,
   Ernst & Young has agreed to provide the Debtors with these
   tax compliance services:

   -- preparing Federal Forms 5471, 8858, 8865 for the Debtors
      for the year ending December 31, 2009; and

   -- preparing and reviewing Form 1118.

For services rendered pursuant to the Puerto Rico Tax Agreement
and Tax Return Agreement, the Debtors will pay Ernst & Young
pursuant to these hourly rates:

  Title                                              Rate
  -----                                              ----
  Partner/Principal/Executive Director - National    $625
  Partner/Principal/Executive Director - Local       $550
  Senior Manager                                     $470
  Manager                                            $385
  Senior                                             $300
  Staff                                              $185

Ernst & Young has estimated that the services to be rendered
pursuant to the Tax Return Agreement will cost approximately
$4,000.

For services rendered pursuant to the Loan Staff Agreement and
the Compliance Agreement, the Debtors will pay Ernst & Young
pursuant to these hourly rates:

     Title               Rate
     -----               ----
     Partner             $535
     Senior Manger       $405
     Manager             $285
     Senior              $150
     Staff               $100

The Debtors will also reimburse Ernst & Young for the firm's
reasonable and necessary expenses.

George Lenyo, a partner of Ernst & Young, assures the Court that
his firm continues to be a "disinterested person" within the
meaning of Section 101(14) of the Bankruptcy Code.

The Debtors relate that they received informal comments from the
U.S. Trustee, which have been resolved.  Accordingly, the Debtors
delivered to the Court a revised proposed order, which provides
that the Tax Return Agreement is approved nunc pro tunc to
June 15, 2010, instead of May 10, 2010.

                         *     *     *

Judge Sontchi authorizes the Debtors to expand the scope of Ernst
& Young's services to provide certain additional tax services.

The Puerto Rico Tax Agreement and the Tax Return Agreement are
approved nunc pro tunc to June 15, 2010.

The Loan Staff Agreement and the Tax Compliance Agreement are
approved nunc pro tunc to June 30, 2010.

                        About Visteon Corp

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is an automotive supplier
that designs, engineers and manufactures innovative climate,
interior, electronic and lighting products for automakers.  The
Company has corporate offices in Van Buren Township, Michigan
(U.S.); Shanghai, China; and Kerpen, Germany.  It has facilities
in 27 countries and employs roughly 35,500 people.  The Company
disclosed assets of US$4,561,000,000 and debts of US$5,311,000,000
as of March 31, 2009.

Visteon Corporation and 30 of its affiliates filed for Chapter 11
protection on May 28, 2009, (Bank. D. Del. Case No. 09-11786
through 09-11818).  Judge Christopher S. Sontchi oversees the
Chapter 11 cases.  James H.M. Sprayregen, Esq., Marc Kieselstein,
Esq., and James J. Mazza, Jr., Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, represent the Debtors in their restructuring
effort.  Laura Davis Jones, Esq., James E. O'Neill, Esq., Timothy
P. Cairns, Esq., and Mark M. Billion, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, serve as the Debtors'
local counsel.  The Debtors' investment banker and financial
advisor is Rothschild Inc.  The Debtors' notice, claims, and
solicitation agent is Kurtzman Carson Consultants LLC.  The
Debtors' restructuring advisor is Alvarez & Marsal North America,
LLC.

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


VISTEON CORP: Wilmington Trust Withdraws Appeal on Plan Deal
------------------------------------------------------------
Appellants Wilmington Trust FSB and the Ad Hoc Equity Committee
executed separate stipulations for the voluntary dismissal of the
appeals they have taken of Judge Christopher S. Sontchi's June 17,
2010 order authorizing the Debtors to enter into a Plan Support
Agreement, an Equity Commitment Agreement and a Cash Recovery
Backstop Agreement, all in relation to the Debtors' Chapter 11
Plan.

Wilmington Trust is the administrative agent under the Debtors'
senior secured term loan facility.

Having settlement the issues related to its Appeal, Wilmington
Trust inked an appeal dismissal stipulation with the Debtors and
the Official Committee of Unsecured Creditors on July 30, 2010.
The parties' dispute was earlier referred for mediation.  Under
the stipulation, the parties further agreed to pay their own
attorneys' fees and costs.

The Ad Hoc Equity Committee, for its part, agreed to the
dismissal of its Appeal in light of a third amendment to the ECA
it entered into with the Debtors on August 9, 2010, by which
members of the Ad Hoc Equity Committee have become parties to the
ECA.

Accordingly, the U.S. District Court for the District of Delaware
approved Wilmington Trust's stipulation on August 11, 2010, and
the Ad Hoc Equity Committee's stipulation on August 19, 2010.

                        About Visteon Corp

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is an automotive supplier
that designs, engineers and manufactures innovative climate,
interior, electronic and lighting products for automakers.  The
Company has corporate offices in Van Buren Township, Michigan
(U.S.); Shanghai, China; and Kerpen, Germany.  It has facilities
in 27 countries and employs roughly 35,500 people.  The Company
disclosed assets of US$4,561,000,000 and debts of US$5,311,000,000
as of March 31, 2009.

Visteon Corporation and 30 of its affiliates filed for Chapter 11
protection on May 28, 2009, (Bank. D. Del. Case No. 09-11786
through 09-11818).  Judge Christopher S. Sontchi oversees the
Chapter 11 cases.  James H.M. Sprayregen, Esq., Marc Kieselstein,
Esq., and James J. Mazza, Jr., Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, represent the Debtors in their restructuring
effort.  Laura Davis Jones, Esq., James E. O'Neill, Esq., Timothy
P. Cairns, Esq., and Mark M. Billion, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, serve as the Debtors'
local counsel.  The Debtors' investment banker and financial
advisor is Rothschild Inc.  The Debtors' notice, claims, and
solicitation agent is Kurtzman Carson Consultants LLC.  The
Debtors' restructuring advisor is Alvarez & Marsal North America,
LLC.

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


VISTEON CORP: Wins Nod for Blackman as Counsel for Plan Process
---------------------------------------------------------------
Visteon Corp. and its units sought and obtained the Court's
authority to employ Blackman Kallick ProjecTemps, LLC, to provide
them with temporary legal counsel to assist in plan confirmation
discovery effective as of June 23, 2010.

Between April and June 2010, certain groups of equity holders and
the Debtors' prepetition term loan lenders served written
discovery requests on the Debtors on more than 150 categories of
documents.  Even after negotiating to significantly decrease the
scope of those requests, the Debtors relate that they were
obligated to collect, review, and produce electronic documents
generated from January 1, 2007 to the present from approximately
30 employees, former employees, and consultants.

The Debtors disclose that over the past 30 days, the Blackman
Kallick contract attorneys spent more than 14,000 hours reviewing
those documents and that they have produced approximately 500,000
pages of documents.  The Debtors add that those efforts will need
to continue in the days ahead to meet the discovery productions
deadlines, but professionals retained in their cases do not
currently have available resources to handle that undertaking.

On the other hand, Blackman Kallick is able to provide those
services at a lower rate than the professionals already retained
in these cases, the Debtors note.

The Debtors' agreement with Blackman Kallick provides for
compensation on an hourly fee basis for services rendered by
attorneys contracted with Blackman.  Specifically, the Debtors
will pay Blackman $50 per hour per staffed attorney on the
contemplated services.

If the Debtors hire a staffed attorney as an employee on a full-
time or part-time basis, Blackman Kallick will be entitled to a
placement fee equal to 25% of the professional's first-year
salary in the case of an attorney.  The Conversion Fee will be
reduced by 25% for an attorney for every 240 hours of work for
which Blackman is fully compensated by the Debtors.

Jill Rorem, Esq., at Blackman Kallick ProjecTemps, LLC, in
Chicago, Illinois, assures the Court that her firm is a
"disinterested person" as that term is defined under Section
101(14) of the Bankruptcy Code and does not hold or represent an
interest adverse to the Debtors or their estates.

In a separate filing, the Debtors certified to the Court that no
objection was filed as to the Application.

                        About Visteon Corp

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is an automotive supplier
that designs, engineers and manufactures innovative climate,
interior, electronic and lighting products for automakers.  The
Company has corporate offices in Van Buren Township, Michigan
(U.S.); Shanghai, China; and Kerpen, Germany.  It has facilities
in 27 countries and employs roughly 35,500 people.  The Company
disclosed assets of US$4,561,000,000 and debts of US$5,311,000,000
as of March 31, 2009.

Visteon Corporation and 30 of its affiliates filed for Chapter 11
protection on May 28, 2009, (Bank. D. Del. Case No. 09-11786
through 09-11818).  Judge Christopher S. Sontchi oversees the
Chapter 11 cases.  James H.M. Sprayregen, Esq., Marc Kieselstein,
Esq., and James J. Mazza, Jr., Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, represent the Debtors in their restructuring
effort.  Laura Davis Jones, Esq., James E. O'Neill, Esq., Timothy
P. Cairns, Esq., and Mark M. Billion, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, serve as the Debtors'
local counsel.  The Debtors' investment banker and financial
advisor is Rothschild Inc.  The Debtors' notice, claims, and
solicitation agent is Kurtzman Carson Consultants LLC.  The
Debtors' restructuring advisor is Alvarez & Marsal North America,
LLC.

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


VONAGE HOLDINGS: June 30 Balance Sheet Upside-Down by $59.5-Mil.
----------------------------------------------------------------
Vonage Holdings Corp. reported total assets of $370,986,000, total
liabilities of $430,545,000 and a stockholders' deficit of
$59,559,000 as of June 30, 2010.

Vonage swung to a net loss of $562,000 for the three months ended
June 30, 2010, from net income of $2,285,000 for the same period
in 2009.  Vonage posted net income of $13,406,000 for the six
months ended June 30, 2010, from net income of $7,556,000 for the
same period in 2009.

Operating revenues were $225,341,000 for the three months ended
June 30, 2010, from $220,028,000 for the same period in 2009.
Operating revenues were $453,292,000 for the six months ended June
30, 2010, from $444,033,000 for the same period in 2009.

A full-text copy of the Company's Form 10-Q report is available at
no charge at http://ResearchArchives.com/t/s?6a54

Vonage Holdings Corp. provides high quality voice and messaging
services over broadband networks.  While customers in the United
States represented 94% of its subscriber lines at June 30, 2010,
Vonage continues to serve customers internationally with services
in Canada and the United Kingdom.


VORNADO REALTY: Reports $57,840 Net Income for June 30 Quarter
--------------------------------------------------------------
Vornado Realty Trust filed a Form 10-Q, reporting net income of
$57,840 on $696,105 of revenues for the quarter ended June 30,
2010, compared with a net loss of $51,904 on $554,516 of revenues
during the same period in 2009.

Vornado Realty's balance sheet at June 30, 2010, showed
$19.89 million in assets, $11.98 million in debts, and total
equity of $6.64 million.

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

         http://researcharchives.com/t/s?6a67

Vornado filed an amended Form 10-Q solely to furnish Exhibit 101
to provide, among other things, unaudited interim consolidated
balance sheets; unaudited interim consolidated statements of
income; and unaudited interim consolidated statements of cash
flows.

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

         http://researcharchives.com/t/s?6a68

                       About Vornado Realty

Vornado Realty Trust is a fully-integrated real estate investment
trust and conducts its business through Vornado Realty L.P., a
Delaware limited partnership.  Vornado is the sole general partner
of, and owned approximately 92.5% of the common limited
partnership interest in the Operating Partnership at June 30,
2010.

Vornado Realty Trust is in default under its mortgage loans
related to the Springfield Mall in Washington D.C., a California
retail property, and the High Point Complex in North Carolina.
The mortgage loans have been placed with a special servicer, and
Vornado has not made debt service payments under those loans.
Vornado is in negotiations with the special servicers.


WASHINGTON MUTUAL: Equity Committee Members Down to Four
--------------------------------------------------------
Roberta A. DeAngelis, the United States Trustee for Region 3,
appointed as of August 3, 2010, four persons to the Official
Committee of Equity Security Holders in the Chapter 11 cases of
Washington Mutual, Inc., and WMI Investment Corp.:

  (1) Esopus Creek Value, LLC
      Attn: Joseph S. Criscione
      150 JFK Parkway, Suite 100
      Short Hills, NJ 07078
      Phone: 973-847-5904

  (2) Kenneth I. Feldman

  (3) Dorothea Barr

  (4) Michael Willingham

The Debtors' Equity Committee originally consisted of seven
members.  Dorothea Barr, Joyce M. Presnall and Tyson Matthews are
no longer part of the panel as of August 3, 2010.

                       About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The Company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over September 25 by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  Wamu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment estimated assets of
$500,000,000 to $1,000,000,000 with zero debts.

Peter Calamari, Esq., and David Elsberg, Esq., at Quinn Emanuel
Urquhart Oliver & Hedges, LLP, served as legal counsel to WMI with
responsibility for the litigation.  Brian Rosen, Esq., at Weil,
Gotshal & Manges LLP served as legal counsel to WMI with
responsibility for the Chapter 11 case.

Bankruptcy Creditors' Service Inc. publishes Washington Mutual
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Washington Mutual Inc. (http://bankrupt.com/newsstand/or
215/945-7000).


WASHINGTON MUTUAL: Plan Confirmation Hearing to Commence Nov. 1
---------------------------------------------------------------
The Fifth Amended Chapter 11 Plan of Reorganization of Washington
Mutual, Inc., and WMI Investment Corp. will be up for confirmation
before Judge Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware, staring on November 1, 2010, Bloomberg News
reports, citing minutes of an August 25 hearing.

WaMu's hotly contested Plan centers on the Global Settlement
Agreement, reached among (i) the Debtors; (ii) JPMorgan Chase
Bank, N.A.; (iii) the Federal Deposit Insurance Corporation, in
its capacity as receiver for Washington Mutual Bank; (iv) the
FDIC, in its corporate capacity; (v) certain noteholders; and
(vi) the Official Committee of Unsecured Creditors for the
resolution of certain disputed accounts, the division of certain
tax refunds and the ownership of certain trust preferred
securities, among other others.

The Disclosure Statement outlining the Fifth Amended Plan is
scheduled for approval on September 7, 2010, following a number
of postponements.  At various Court hearings held in June and
July 2010, WaMu and the Official Committee of Equity Security
Holders have told Judge Walrath that they were "in discussion[s]
on making changes" to the Plan.

Judge Walrath had also directed WaMu, JPMorgan Chase, the FDIC
and the Equity Committee to meet and confer to settle disputes
relating to the disclosure of information and discovery
procedures surrounding WaMu's demise in October 2008 and the
Company's Chapter 11 cases.

                 Confirmation Hearings Will Tackle
                    Black Horse Adversary Case

The first day of the Plan Confirmation hearing will also tackle
the issue hounding certain holders of WaMu Inc. trust preferred
securities, who have asked Judge Walrath to enter a declaratory
judgment that their Securities -- as well as all rights, claims
and entitlements -- are, and at all times have been, the property
of third-party investors and not property of WaMu's Chapter 11
estate.

The Trust Preferred Holders formally filed an adversary complaint
with the Delaware Bankruptcy Court on July 6, 2010, essentially
to establish their current ownership of certain Trust Preferred
Securities.  The Plaintiffs consist of these investment funds and
investment firms:

* Black Horse Capital LP,
* Black Horse Capital Master Fund Ltd.,
* Black Horse Capital (QP) LP,
* Greywolf Capital Partners II,
* Greywolf Overseas Fund,
* Guggenheim Portfolio Company VII, LLC,
* HFR RV A Combined Master Trust,
* IAM Mini-Fund 14 Limited,
* LMA SPC for and on behalf of the MAP 89 Segregated Portfolio,
* Lonestar Partners LP,
* Mariner LDC,
* Nisswa Convertibles Master Fund Ltd.,
* Nisswa Fixed Income Master Fund Ltd.,
* Nisswa Master Fund Ltd.,
* Paige Opportunity Partners LP,
* Paige Opportunity Partners Master Fund,
* Pandora Select Partners, LP,
* Pines Edge Value Investors Ltd,
* Riva Ridge Capital Management LP,
* Riva Ridge Master Fund, Ltd.,
* Scoggin Capital Management II LLC,
* Scoggin International Fund Ltd.,
* Scoggin Worldwide Fund Ltd.,
* Visium Global Fund, Ltd.,
* VR Global Partners, L.P.,
* Whitebox Asymmetric Partners LP,
* Whitebox Combined Partners, LP,
* Whitebox Convertible Arbitrage Partners, LP,
* Whitebox Hedged High Yield Partners, LP, and
* Whitebox Special Opportunities LP, Series B

The Black Horse Plaintiffs hold, in the aggregate, approximately
$1 billion, in terms of liquidation preference, of the Trust
Preferred Securities.  They are represented by Campbell & Levine
LLC and Brown Rudnick LLP.

As the confirmation hearing continues in early November, other
critics of WaMu's plan may want to use any facts or arguments
presented by the investors to attack the reorganization proposal,
Bloomberg News quoted Judge Walrath as saying at the August 25
hearing.  "Others may want to ride your coattails.  The first day
of confirmation will be yours," Judge Walrath told an attorney
for Black Horse Capital LP.

Lawyers for WaMu and investors, including Black Horse Capital LP
and Lonestar Partners LP, agree that the issue must be resolved
before the Company can end its bankruptcy and distribute more
than $6 billion to creditors, Bloomberg News adds.

                       About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The Company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over September 25 by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  Wamu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment estimated assets of
$500,000,000 to $1,000,000,000 with zero debts.

Peter Calamari, Esq., and David Elsberg, Esq., at Quinn Emanuel
Urquhart Oliver & Hedges, LLP, served as legal counsel to WMI with
responsibility for the litigation.  Brian Rosen, Esq., at Weil,
Gotshal & Manges LLP served as legal counsel to WMI with
responsibility for the Chapter 11 case.

Bankruptcy Creditors' Service Inc. publishes Washington Mutual
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Washington Mutual Inc. (http://bankrupt.com/newsstand/or
215/945-7000).


WASHINGTON MUTUAL: Proposes IRS Tax Settlements
-----------------------------------------------
Washington Mutual, Inc., is the common parent of an affiliated
group of corporations, including Washington Mutual Bank and its
direct and indirect subsidiaries that join in filing consolidated
U.S. federal income tax returns.  As the common parent of the
WaMu Group, WaMu has authority to settle audits and disputes with
the U.S. Internal Revenue Service on its own behalf and on behalf
of all members of the consolidated return group, including WMB
and its predecessor companies, for certain tax years.

WaMu is also the successor to H.F. Ahmanson & Company, by virtue
of a merger of Ahmanson with and into WaMu on October 1, 1998.
Prior to the transaction, Ahmanson was the common parent of an
affiliated group of corporations that filed consolidated U.S.
federal income tax returns for tax periods prior to October 1,
1998.  WaMu, as successor to Ahmanson, has represented the
Ahmanson Group in the IRS audits of the Ahmanson Group's tax
returns, including the resolution of certain refund claims at the
Office of Appeals of the IRS.

WaMu relates that since the Petition Date, it has worked with the
IRS to resolve -- subject to approval by the Bankruptcy Court and
by the U.S. Congress Joint Committee on Taxation -- all
outstanding issues with the IRS regarding the consolidated tax
liability of the WaMu Group for the 2001 through 2008 tax years,
except for certain adjustments for which the WaMu Group may be
entitled to claim a tax refund pending the outcome of certain
lawsuits initiated by WaMu on behalf of the Ahmanson Group.

WaMu adds that it has also reached a settlement with the IRS on a
tax refund claim of the Ahmanson Group with respect to the 1997
Tax Year.

Pursuant to Rule 9019 of the Federal Rules of Bankruptcy
Procedure, the Debtors and IRS, among other entities, entered
into separate settlements to allow the WaMu Group to recover most
of the claimed federal tax refund amounts, and resolve many
contentious federal income tax issues on reasonable terms and
with finality and certainty, thus eliminating the significant
cost, delay and uncertainty of litigation, Mark D. Collins, Esq.,
at Richards, Layton & Finger, P.A., in Wilmington, Delaware,
reveals.

According to Mr. Collins, the IRS Settlements are essentially
reflected in these documents:

  (i) An Appeals Settlement Agreement on IRS Form 870-AD, for
      Tax Years 2001-2003 of the WaMu Group, or the "2001-2003
      Appeals Settlement;"

(ii) An IRS Form 870, Waiver of Restrictions on Assessment and
      Collection of Deficiency in Tax and Acceptance of
      Overassessment, for Tax Years 2003-2008, on Form 870 and
      the corresponding Revenue Agent's Report or IRS Form 4549,
      also known as "RAR;"

(iii) A Closing Agreement with respect to foreign tax credits
      and related issues for Tax Years 2005-2007, or the
      "Closing Agreement;" and

(iv) An Appeals Settlement Agreement on IRS Form 870-AD) for
      tax year 1997 of the Ahmanson Group, or the "Ahmanson
      Appeals Settlement."

                    Terms of IRS Settlements

The 2001-2003 Appeals Settlement documents the resolution in
November 2009, of remaining tax issues in dispute for the 2001-
2003 Audit Cycle after discussions and negotiations among WaMu,
the Examination Division of the IRS, and the Office of Appeals of
the IRS.  The 2001-03 Appeals Settlement, which has been reviewed
and accepted by the Joint Taxation Committee, is subject to
approval by the Bankruptcy Court.

Because the IRS Exam Division had accounted for all the disputed
adjustments that are subject of the 2001-2003 Appeals Settlement
by reducing the February 2008 refund, the Settlement will yield
an additional net tax refund for the WaMu Group, Mr. Collins
avers.  In addition, several additional adjustments favorable to
the WaMu Group also were made as corollary changes in the 2001-
2003 Audit Cycle and included as part of the 2001-2003 Appeals
Settlement, he cites.

Specifically, the total net refund from the 2001-2003 Appeals
Settlement is approximately $447.2 million plus additional
overpayment interest to be determined when the tax amounts are
paid.  WaMu estimates that overpayment interest due on the
refund, if accrued through December 31, 2010, would be
approximately $124 million.

The RAR Settlement documents the reached complete resolution and
settlement between WaMu and the IRS Exam Division of all
outstanding audit issues for the 2004-2008 Tax Years and WaMu's
filed refund claims for tax years 2003-2008 based on its election
to carry back the 2008 consolidated net operating loss or "the
2008 NOL Refund Claims."

The WaMu Group will be entitled to receive a net federal tax
refund of approximately $4.533 billion for the 2003-2008 tax
years under the RAR Settlement, Mr. Collins notes.

The $4.533 billion Refund Amount "represents a recovery of almost
all the federal taxes paid in tax years 2004-2007 plus
approximately fifty percent (50%) of taxes paid in 2003, and also
includes recovery of approximately $9.9 million, representing an
erroneously computed penalty for 2004," according to Mr. Collins.
The amount of overpayment interest due on this projected refund,
if accrued through December 31, 2010, is estimated to be
approximately $100.7 million, he points out.

The Ahmanson Appeals Settlement resolves the tax deficiency of
$12.2 million and a corresponding penalty of $4.9 million filed
by the IRS Exam Division against the Ahmanson Group.  The
$4.9 million Penalty would have affected WaMu, as successor to
Ahmanson.

The Ahmanson Appeals Settlement was reviewed by the Joint
Taxation Committee and approved in April 2010.  Under the terms
of the Settlement, the Ahmanson Group will be allowed a capital
loss of $6.3 million and a deduction of $27,000 for costs
associated with the transaction.  This results in a tax refund of
approximately $2.2 million.

In addition, the penalties assessed on the Ahmanson Appeals
Transaction will be reduced from $4.9 million to $1.5 million
resulting in a refund of approximately $3.4 million in previously
paid penalties.  In total, WaMu, as successor to Ahmanson, will
be entitled to an aggregate refund of approximately $5.6 million
plus a refund of previously paid underpayment interest and
applicable overpayment interest from the 2006 payment date.

WaMu estimates that the interest to be received on the refund
related to the Ahmanson Appeals Settlement, if accrued through
December 31, 2010, will be approximately $6.3 million.

Mr. Collins emphasizes that the IRS Settlement will significantly
reduce the extent of outstanding tax claims against WaMu's
estate, thus increasing the amount of the tax refund to be
received on account of the 2008 NOL Refund Claims.  Moreover, he
avers, the proposed settlement will relieve WaMu from having to
commit substantial resources to protracted litigation.

Nothing contained in the Settlement Documents prejudices the
rights of JPMorgan Chase N.A. or the Federal Deposit Insurance
Corporation under the Global Settlement Agreement under the
Debtors' Chapter 11 Plan of Reorganization, as amended.
Accordingly, neither JPMorgan Chase nor the FDIC has raised any
objection or exception to the terms contained in the IRS
Settlement Documents.

The Official Committee of Unsecured Creditors Committee has had
an opportunity to review, and supports the terms of, all
Settlement Documents, Mr. Collins tells Judge Walrath.

Against his backdrop, the Debtors ask the Court to approve the
IRS Settlements.

                       About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The Company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over September 25 by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  Wamu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment estimated assets of
$500,000,000 to $1,000,000,000 with zero debts.

Peter Calamari, Esq., and David Elsberg, Esq., at Quinn Emanuel
Urquhart Oliver & Hedges, LLP, served as legal counsel to WMI with
responsibility for the litigation.  Brian Rosen, Esq., at Weil,
Gotshal & Manges LLP served as legal counsel to WMI with
responsibility for the Chapter 11 case.

Bankruptcy Creditors' Service Inc. publishes Washington Mutual
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Washington Mutual Inc. (http://bankrupt.com/newsstand/or
215/945-7000).


WORKSTREAM INC: Michael Mullarkey Resigns as Exec. Vice President
-----------------------------------------------------------------
Workstream Inc. said that Michael Mullarkey resigned as Executive
Vice President of Workstream Inc. with effect on Aug. 25, 2010.
No replacement has been named.  Mr. Mullarkey was the Company's
President and Chief Executive Officer as well as the Chairman of
the Company's Board of Directors, until a change of control
occurred on Aug. 16, 2010, when he assumed his current position.

                       About Workstream Inc.

Maitland, Fla.-based Workstream Inc. (OTC BB: WSTM) --
http://www.workstreaminc.com/-- provides enterprise workforce
management solutions and services that help companies manage their
human capital management function.

According to the Troubled Company Reporter on April 21, 2010,
Workstream Inc. filed on April 14, 2010, its quarterly report on
Form 10-Q for the three months ended February 28, 2010.  The
Company's balance sheet at February 28, 2010, showed $14,564,794
in assets, $30,051,615 in debts, and a stockholders' deficit of
$15,486,821.

In its April 2010 10-Q report, the Company said its ability to
continue as a going concern depends upon its ability to
successfully refinance $21.6 million of its senior secured notes
payable, including accrued interest thereon, generate positive
cash flows from operations and obtain sufficient additional
financing, if necessary.  The Notes went into default on May 22,
2009 due to the Company's suspension of trading on the NASDAQ
Stock Market as a result of its shareholders' deficit.  The Notes
were restructured on December 11, 2009.


Z'S INC: Case Summary & 5 Largest Unsecured Creditors
-----------------------------------------------------
Debtor: Z's, Inc.
        2748 241st St.
        Fort Madison, IA 52627

Bankruptcy Case No.: 10-02391

Chapter 11 Petition Date: August 26, 2010

Court: United States Bankruptcy Court
       Northern District of Iowa (Cedar Rapids)

Judge: Thad J. Collins

Debtor's Counsel: Joseph A. Peiffer, Esq.
                  Ronald C. Martin, Esq.
                  DAY RETTIG PEIFFER, P.C.
                  P.O. Box 2877
                  Cedar Rapids, IA 52406-2877
                  Tel: (319) 365-0437
                  Fax: (319) 365-5866
                  E-mail: joep@drpjlaw.com
                          ronm@drpjlaw.com

Scheduled Assets: $1,216,761

Scheduled Debts: $1,098,347

A list of the Company's five largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ianb10-02391.pdf

The petition was signed by Samuel D. Gaylord, president.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Gaylord Construction, Inc.             10-02384    08/26/10


* S&P: 2 Defaults Last Week Raise Global Total at 52 in 2010
------------------------------------------------------------
Two corporate issuers defaulted last week, bringing the year-to-
date 2010 global corporate default tally to 52, said an article
published by Standard & Poor's Global Fixed Income Research last
Friday.

By region, the current year-to-date default tallies are 38 in the
U.S., two in Europe, five in the emerging markets, and seven in
the other developed region (Australia, Canada, Japan, and New
Zealand), according to the article, titled "Global Corporate
Default Update (Aug. 20 - 26, 2010) (Premium)."

So far this year, missed interest or principal payments are
responsible for 17 defaults; distressed exchanges account for 16;
Chapter 11 filings account for 12; regulatory directives,
receiverships, and debt reorganization are responsible for one
each; and the remaining four defaulted issuers are confidential.

Of the global corporate defaulters in 2010, 42% of issues with
available recovery ratings had recovery ratings of '6' (indicating
S&P's expectation for negligible recovery of 0% to 10%), 12% of
the issues had recovery ratings of '5' (modest recovery prospects
of 10% to 30%), 12% had recovery ratings of '4' (average recovery
prospects of 30% to 50%), and 15% had recovery ratings of '3'
(meaningful recovery prospects of 50% to 70%).  And for the
remaining two rating categories, 10% of the issues had recovery
ratings of '2' (substantial recovery prospects of 70% to 90%) and
10% had recovery ratings of '1' (very high recovery prospects of
90% to 100%).


* DLA Piper Wants Malpractice Suit Out of Bankruptcy Court
----------------------------------------------------------
Bankruptcy Law360 reports that DLA Piper has asked the U.S.
Bankruptcy Court for the Southern District of New York to send
back to district court a $17 million malpractice suit brought
against it by a bankrupt textile and furniture seller alleging the
firm botched an international brand licensing deal.


* Fasken Martineau Lawyers Examine CCAA Monitor's Role
------------------------------------------------------
By Aubrey Kauffman and Stuart Brotman, Fasken Martineau

                            Overview

The principal Canadian restructuring statute, the Companies'
Creditors Arrangement Act, evolved from the provisions of the
English corporations statute dealing with corporate
reorganizations.  Despite their different origins, the objectives
and processes of the CCAA and Chapter 11 of the U.S. Bankruptcy
Code are remarkably similar.  A fundamental distinction, however,
that colours the entire Canadian process, is the mandatory
appointment of a "Monitor" and the absence of a mandatory
unsecured creditors' committee.  In order to understand the
Canadian approach to restructuring, an American practitioner must
understand the role of the Monitor.

                   A Brief History of the CCAA

The CCAA was passed during the Great Depression to provide a means
by which insolvent companies could avoid liquidation.  The Act was
modeled on section 153 of the English Companies' Act, 1929 and
comprised only 20 provisions.  The proceeding was commenced by
filing the proposed plan of compromise or arrangement (the "Plan")
and asking for meetings of the affected classes of creditors to be
ordered.  If approved by the requisite majority of creditors, the
Plan was submitted to the court for approval. A stay of judicial
proceedings would be in place between the commencement of the CCAA
proceeding and the failure or approval of the Plan. The process
was not a lengthy one.  There is very little jurisprudence dealing
with the CCAA form this early period.  After the 1940's, the Act
essentially became dormant until the early 1980's.

Until the early 1990's, the alternate restructuring process under
the Bankruptcy Act (now the Bankruptcy and Insolvency Act) could
not stay or compromise secured creditors.  In the early 1980's,
faced with a severe economic downturn in Western Canada, creative
counsel realized that the CCAA could be used to stay and
compromise secured creditors and thus was a powerful restructuring
tool.

The next important evolution in the history of the CCAA lay in the
courts' approach to the CCAA when its use was revived in Eastern
Canada in the mid- to late-1980's, largely to deal with downturns
in the retail and real estate sectors.  The courts regarded the
legislation as remedial in that it avoids the devastating social
and economic affects of a liquidation.  The courts held that the
Act is to be given a wide and liberal construction so as to enable
it to effectively serve the remedial purpose.  The skeletal nature
of the statute opened the door to creativity and flexibility.
Canadian practitioners observed restructuring tools contained in
Chapter 11 proceedings, such as filing for a stay without having a
Plan, DIP financing and the right to reject contracts, and
assimilated those tools (with some differences) into the Canadian
process.  This was accomplished on an ad hoc basis through court
orders grounded in a broad interpretation of the stay of
proceeding provisions in the CCAA or the inherent jurisdiction of
the court.

As part of this evolution, perhaps influenced by the Chapter 11
process, the practice of filing a Plan at the outset of the
proceeding fell away.  The courts became satisfied if the initial
filing disclosed an outline of an anticipated Plan.  Quite
quickly, even that requirement disappeared.  Currently, assuming
the debtor company meets certain thresholds, the court will grant
a broad stay of proceeding in order to allow a Plan to be
developed and negotiated, and ultimately voted upon.  This extends
the length of a typical CCAA case significantly from what was
initially contemplated.

The CCAA underwent significant amendment in 1997 and further
amendments became effective in 2009.  Despite the amendments, the
CCAA remains more of a framework statute than a detailed code.  It
retains significant flexibility.

Similarities between the CCAA and Chapter 11 Processes

From a functional perspective, the CCAA and Chapter 11 processes
are remarkably similar:

     * They are both debtor in possession restructurings --
       usually initiated by the debtor company.

     * There is a broad stay of judicial and non-judicial
       proceedings at the commencement of the proceeding which
       remains in place until the termination of the proceeding,
       and it is very difficult to obtain relief from the stay.

     * There is an ability to raise interim financing during the
       restructuring through DIP financing.

     * There is a toolkit of powers to assist in a restructuring,
       such as the restriction of the ability of counterparties
       to terminate contracts, the ability of the debtor to
       reject (repudiate) contracts and the ability, in certain
       circumstances, to force assignments of contracts.

     * There are rules with respect to recovery of preferential
       payments made prior to the filing.

     * There is an ability to sell assets or the entire business
       of a debtor) prior to a Plan.

     * There is great flexibility in crafting a Plan, including
       offers of specific amounts of money, pots of assets or
       debt to equity swaps.

     * A Plan can contain provisions protecting directors,
       officers and other third parties, in appropriate
       circumstances.

     * There is an ability to consolidate estates.

     * The proposed Plan is voted on by creditors in classes.
       If the requisite approval of creditors is obtained, the
       Plan is subject to the approval of a court based upon the
       commercial reasonableness of the Plan.

In the view of the authors, the principle functional differences
between the two systems lies in the appointment, in Canada, of a
court officer, a Monitor, and the absence of a mandatory unsecured
creditors committee.

             The Origin and Evolution of the Monitor

The original CCAA did not contain the concept of a "monitor".
There is no such person in the English statute from which it was
derived.  In one of the first CCAA cases in the early 1980's one
of the operating lenders expressed concern about leaving existing
management of the insolvent debtor in control during the course of
the proceeding.  In order to assuage this concern, the debtor
company contracted with the trustee in bankruptcy subsidiary of an
accounting firm to monitor the debtor company during the course of
the restructuring, with a mandate to inform the operating lenders
of any untoward activity. Eventually, it became a routine practice
to appoint a Monitor in CCAA filings and provide for this in the
initial order.  The scope of the mandate of a Monitor expanded in
a schizophrenic way.  Not only was a Monitor to be a watchdog for
the court and creditors, but in many cases the Monitor was also
charged with assisting the debtor in the development of its Plan
and providing comments on the Plan to the court.

In the 1997 amendments to the CCAA the appointment of a Monitor
was made obligatory.  The basic powers and obligations of the
Monitor are now set out in section 23 of the CCAA.  In addition,
further powers or obligations of the Monitor usually are contained
in the initial orders made when a CCAA case is commenced.

                   The Duties and Functions
               of the Monitor - CCAA Provisions

The Monitor is an officer of the court with a duty to be neutral
and to act in the best interests of all concerned.  It must act
independently of any of the stakeholders, balancing the interests
of all stakeholders while fulfilling its mandate.  Section 25 of
the CCAA provides that the Monitor must act honestly and in good
faith and comply with a prescribed code of ethics.

The basic duties and functions of a Monitor are set out in section
23 of the CCAA.  Those duties can be summarized as follows:

     * To review the debtor's cash flow statements, business and
       financial affairs and to report to the court and creditors
       as specified by the court or, without delay, after
       ascertaining a material adverse change in the debtor's
       financial circumstances.

     * To advise the court, at any time during the proceedings,
       if the Monitor is of the opinion that it would be more
       beneficial to the debtor's creditors if the debtor were to
       be declared bankrupt (in Canada the word "bankruptcy"
       means a Chapter 7-like liquidation).

     * On the filing of a Plan, to advise the court and creditors
       on the reasonableness and fairness of the Plan.

     * To perform any other function in relation to the debtor
       that the court directs.

As a court officer, the reports of the Monitor (which are unsworn)
constitute evidence in the CCAA proceeding.  The reports of the
Monitor constitute a primary means to disseminate information
about the debtor to the court and creditors.  The court gives
deference to the recommendations of a Monitor contained in such
reports.

The CCAA also contains certain statutory protections for Monitors.
Monitors are not personally liable for matters that arose before
their appointment.  Their liability in respect of environmental
matters is also limited.  Monitors are not liable with respect to
the contents of their reports if made in good faith and with
reasonable care.

                     Duties and Functions of
               Monitors - Court Ordered Provisions

In addition to the duties and functions of the Monitor set out in
the CCAA, the model initial order used in the province of Ontario
(other provincial model initial orders are similar) contains the
following significant additional power: The Monitor is directed
and empowered to "advise the Applicant [debtor] in its development
of the Plan and any amendments to the Plan."

                      The Schizophrenic Nature
                        of the Monitor's Role

In summary, while being required to act neutrally and in an
independent manner, the Monitor is required to:

     * Act as a watchdog monitoring the affairs of the debtor and
       blowing the whistle if, at any point, there is a material
       adverse change or bankruptcy would be preferable.

     * Assist the company in the development of its Plan.

     * Advise the court on the reasonableness and fairness of
       that Plan!

It would seem to be impossible to carryout this seemingly
contradictory mandate in a neutral and independent manner.

However, the firms that regularly act as Monitors in Canada (less
than 10) are very experienced and skilled in carrying out their
role.  Typically, with respect to any step in the restructuring,
the Monitor will work with the debtor to reach consensus.  If
consensus is achieved, the Monitor works with the debtor in
disseminating information to relevant stakeholders and building a
consensus amongst the stakeholder groups.  If a sufficient
consensus is achieved, the Monitor recommends a particular step to
the court.  On the surface it appears that most matters proceed on
consent in Canada; however, the consent often is the result of the
mediation of positions facilitated by the Monitor. If a sufficient
consensus is achieved and the support of the Monitor is expressed
it is very difficult (but not impossible) to successfully oppose
the step being taken by the debtor.

              Unsecured Creditor Committees in Canada

There is no requirement to constitute a committee of unsecured
creditors in Canada, and such committees are not common. Canadian
courts will, in their discretion, appoint representative counsel
(and sometimes also financial advisors) to represent the interests
of vulnerable constituencies, such as retirees or employees, and
require the debtor to bear the costs.  The courts also recognize
ad hoc committees of creditors such as noteholders and bondholders
- but rarely require the debtor to fund such committees.

As a result of the most recent amendments, the CCAA contains an
express provision allowing the court to appoint committees of
creditors and, in appropriate circumstances, to secure payment of
the fees of advisors from the assets of the debtor.  This
provision is merely a codification of past practice and it is
doubtful that it will become common practice to appoint committees
of unsecured creditors or to provide for funding such committees.

It is the understanding of the authors, viewed through a Canadian
lens, that a primary function of unsecured creditor committees
under Chapter 11 is to challenge and question steps in the
proceeding being proposed by the debtor.  There are broad powers
of deposition and information gathering at the disposal of the
committees.  The vigilance of the unsecured creditors committee
acts as a check and balance to the manoeuvring of the debtor and,
in some cases, drives value to the unsecured creditor
constituency.  Thus, functionally, it can be said that the role of
a Monitor and an unsecured creditors committee is similar.  They
are both means used to police the debtor.  A functional
distinction between the two is that the Monitor is required to be
neutral and reasonable while unsecured creditor committees are
expected to take aggressive positions on behalf of the unsecured
constituency of creditors.

                    Possible Concerns with
                Respect to the Role of the Monitor

Canadian insolvency practitioners are proud of the CCAA
restructuring process.  We regard our system as flexible,
reasonably expeditious and significantly less expensive than
Chapter 11 proceedings.  In the authors' view these qualities
arise, in large part, from the role of the Monitor and the absence
of aggressive unsecured creditor committees.  One can question
whether the Canadian process trades speed and cost off against
recovery to unsecured creditors.

The following are issues and concerns that American clients have
raised with respect to the role of the Monitor.

     -- Independence -- There are two concerns in this regard.
        The first relates to the small number of Canadian
        restructuring professionals and the second relates to the
        role of the Monitor.  There are only about 10 firms that
        act as Monitors in any material restructuring.
        Similarly, there is a relatively small amount of law
        firms with sophisticated restructuring practices.  These
        law firms are stakeholder agnostic: they will act for
        debtors, court officers and creditors in different
        proceedings.  It is not uncommon for a law firm to be
        acting for the Monitor in one proceeding and act for a
        creditor in another proceeding where the same firm is the
        Monitor.  This would not be countenanced in a Chapter 11
        proceeding but is a reality given the size of the
        Canadian marketplace.  The second concern arises from the
        role of the Monitor.  From a perception standpoint it is
        difficult for unsecured creditors to accept that the
        Monitor can work with the debtor in developing a Plan and
        then be required to express an objective recommendation
        to the court with respect to the Plan -- or, worse,
        recommend that the proceedings be terminated.

     -- Dissemination of information -- A lot of the information
        provided during a restructuring proceeding is provided
        through Monitor reports.  These reports are generally
        neutral ones taking reasonable positions.  It is
        difficult to cross-examine a Monitor on a report and it
        is uncommon to have deposition rights with respect to the
        debtor.  Given the perception problem arising from the
        Monitor working with the debtor in developing a Plan, it
        is sometimes difficult for American clients to accept
        that they are getting adequate access to all the
        information necessary to advance a position.  They are
        concerned that the Monitor is not a font but, rather, a
        filter of information.

In the absence of mandatory, funded unsecured creditors committees
who is the champion of unsecured creditors in Canada?  Who is
fighting, in an organized and united way, to squeeze value out for
unsecured creditors?  It is not the Monitor.  The Monitor is
mandated to be neutral and reasonable.

                              Conclusion

It is not clear to the authors whether one system is better than
the other.  Sacrificing maximization of unsecured creditors'
returns (if that in fact occurs in Canada) for speed and cost
savings may be a superior result to society than the alternative.
That is a matter for professors and legislators to study.  The
purpose of this article simply is to explain the Canadian system
to American insolvency practitioners and to point out some
concerns.  The Canadian process remains flexible and fluid.  If
problems or abuses are observed with respect to the role of the
Monitor or the need for an unsecured creditors committee, those
concerns can be addressed on an ad hoc basis, or through the
organic evolution of the roles of Monitors and unsecured creditors
committees in Canada.

                               *   *   *

Aubrey Kauffman, Esq., and Stuart Brotman, Esq., are partners in
the insolvency practice of Fasken Martineau in Toronto.  Mr.
Kauffman and Mr. Brotman both have considerable experience in
cross-border bankruptcies and corporate reorganizations.  They can
be reached at akauffman@fasken.com and sbrotman@fasken.com


* Joel Mostron Joins Alvarez & Marsal's Real Estate Group
---------------------------------------------------------
Joel Mostrom has joined Alvarez & Marsal's Real Estate Advisory
Services practice as a senior director.  He is based in Atlanta.

Alvarez & Marsal continues to expand its Real Estate Advisory
Services practice to serve clients both domestically and abroad.
Recently, the firm added Scott Morey as the London-based head of
A&M's European real estate practice and Klaus Kretschmann joined
the firm as the national practice leader for Receivership Services
/ Distressed Real Estate based in New York.

With more than 20 years of real estate industry experience, Mr.
Mostrom has an extensive background developing strategic business
plans, operating budgets and restructuring plans, arranging all
levels of public and private financing, and negotiating
acquisitions, divestitures and joint ventures.  Prior to joining
A&M's Real Estate Advisory Services Practice, Mr. Mostrom was a
senior director with A&M's Private Equity Services Operations
Group in New York City where he served as interim CFO for a number
of companies acquired by private equity firms.

"Commercial real estate investors will face mounting challenges as
billions of dollars of debt come due over the next few years,"
said Michael Camp, global head of Alvarez & Marsal's Real Estate
Advisory Services Practice.  "Joel's financial and operational
real estate expertise coupled with his private equity experience
makes him a valuable addition to our growing team."

Prior to joining A&M, Mr. Mostrom was executive vice president and
chief financial officer of Chesapeake Corporation, a publicly
traded international supplier of packaging products, where he was
responsible for treasury, accounting, financial planning and
analysis, SEC and management reporting, investor relations,
information technology and risk management.  He also gained
significant experience raising both public and private debt and
equity throughout the U.S. and Europe.  Prior to his role as CFO,
Mr. Mostrom was president of Chesapeake's real estate subsidiaries
that managed and developed approximately 45,000 acres of land and
approximately three million square feet of company owned and
leased commercial property.  Earlier in his career, Mr. Mostrom
served as chief financial officer, and most recently, president of
Curtis F. Peterson Inc., a private real estate developer that
builds homes and office buildings in the Washington, D.C.
metropolitan area.

Mr. Mostrom earned a bachelor's degree in accounting from the
University of Maryland and is a certified public accountant (CPA).

                    About Alvarez & Marsal

Alvarez & Marsal -- http://www.alvarezandmarsal.com/-- is a
professional services firm, specializing in performance
improvement, turnaround management and business advisory services.
Its clients range from global enterprises to middle market
companies that are both publicly held or privately owned, as well
as large and mid-cap private equity firms, corporate management
and boards of directors.

       About Alvarez & Marsal Real Estate Advisory Services

Alvarez & Marsal Real Estate Advisory Services, LLC --
http://www.alvarezandmarsal.com/en/industries/real-estate/--
advises owners, investors, lenders and users of real estate
throughout the real estate lifecycle, enabling clients to combat
current economic related challenges as well as position them for
future success.  Services range from pre-acquisition due diligence
and transaction advisory to receiverships, loan workouts and exit
strategies, including real estate asset management, which it is
currently providing to Lehman Brothers, among many other entities.


* U.S. Attorney Appointed to Bankruptcy Bench
---------------------------------------------
Assistant U.S. Attorney Sean H. Lane has been appointed to the
bench at the U.S. Bankruptcy Court for the Southern District of
New York, marking the first new judge for the court in recent
years to come from a government role rather than a major law firm,
according to Bankruptcy Law360.

The U.S. Court of Appeals for the Second Circuit, which is
responsible for appointing bankruptcy judges within the circuit,
announced its selection of Lane on Friday, Law360 says.


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                                                          Total
                                               Total     Share-
                                  Total      Working   Holders'
                                 Assets      Capital     Equity
  Company         Ticker          ($MM)        ($MM)      ($MM)
  -------         ------         ------      -------   --------
AUTOZONE INC      AZO US        5,452.8       (293.1)    (462.0)
LORILLARD INC     LO US         3,140.0      1,654.0      (54.0)
DUN & BRADSTREET  DNB US        1,632.5       (475.7)    (783.9)
MEAD JOHNSON      MJN US        2,032.0        357.5     (509.3)
BOARDWALK REAL E  BEI-U CN      2,364.5          -        (64.6)
NAVISTAR INTL     NAV US        8,940.0      1,251.0   (1,198.0)
TAUBMAN CENTERS   TCO US        2,560.9          -       (510.5)
BOARDWALK REAL E  BOWFF US      2,364.5          -        (64.6)
CHOICE HOTELS     CHH US          390.2       (291.4)     (97.0)
WEIGHT WATCHERS   WTW US        1,090.1       (344.4)    (693.5)
SUN COMMUNITIES   SUI US        1,167.4          -       (123.0)
WR GRACE & CO     GRA US        4,053.3      1,257.7     (229.5)
CABLEVISION SYS   CVC US        7,631.6          3.8   (6,183.6)
TENNECO INC       TEN US        2,980.0        286.0      (47.0)
IPCS INC          IPCS US         559.2         72.1      (33.0)
UNISYS CORP       UIS US        2,714.4        366.1   (1,080.1)
MOODY'S CORP      MCO US        1,957.7       (134.2)    (491.9)
UAL CORP          UAUA US      20,134.0     (1,590.0)  (2,756.0)
CABLEVISION SYS   CVY GR        7,631.6          3.8   (6,183.6)
VECTOR GROUP LTD  VGR US          850.0        288.8      (19.6)
DISH NETWORK-A    DISH US       9,031.0        608.6   (1,580.3)
VENOCO INC        VQ US           709.1         14.1     (118.6)
CHENIERE ENERGY   CQP US        1,769.5         37.3     (503.5)
HEALTHSOUTH CORP  HLS US        1,756.1        112.5     (429.9)
NATIONAL CINEMED  NCMI US         725.5         90.2     (381.7)
PROTECTION ONE    PONE US         562.9         (7.6)     (61.8)
OTELCO INC-IDS    OTT-U CN        333.3         25.6       (1.2)
OTELCO INC-IDS    OTT US          333.3         25.6       (1.2)
DISH NETWORK-A    EOT GR        9,031.0        608.6   (1,580.3)
CARDTRONICS INC   CATM US         472.6        (25.3)      (2.1)
EXPRESS INC       EXPR US         718.1         38.4      (81.8)
ARVINMERITOR INC  ARM US        2,817.0        313.0     (909.0)
JUST ENERGY INCO  JE-U CN       1,780.6       (470.0)    (279.3)
DOMINO'S PIZZA    DPZ US          418.6         88.0   (1,263.1)
THERAVANCE        THRX US         232.4        180.2     (126.0)
INCYTE CORP       INCY US         493.7        340.3     (104.8)
REGAL ENTERTAI-A  RGC US        2,575.0       (219.7)    (283.5)
TEAM HEALTH HOLD  TMH US          828.2         80.0      (37.8)
KNOLOGY INC       KNOL US         648.0         48.7      (13.5)
BOSTON PIZZA R-U  BPF-U CN        110.2          2.3     (117.7)
UNITED RENTALS    URI US        3,574.0         24.0      (50.0)
WORLD COLOR PRES  WC CN         2,641.5        479.2   (1,735.9)
FORD MOTOR CO     F US        183,156.0    (23,512.0)  (3,541.0)
GRAHAM PACKAGING  GRM US        2,096.9        228.4     (612.2)
REVLON INC-A      REV US          776.3         76.9   (1,011.8)
WORLD COLOR PRES  WCPSF US      2,641.5        479.2   (1,735.9)
LIBBEY INC        LBY US          794.2        144.4      (11.7)
WORLD COLOR PRES  WC/U CN       2,641.5        479.2   (1,735.9)
AFC ENTERPRISES   AFCE US         114.5         (0.2)      (4.0)
SUPERMEDIA INC    SPMD US       3,261.0        522.0      (22.0)
INTERMUNE INC     ITMN US         161.4         84.7      (46.5)
PETROALGAE INC    PALG US           6.1         (8.9)     (47.4)
COMMERCIAL VEHIC  CVGI US         276.9        111.2      (10.4)
ALASKA COMM SYS   ALSK US         627.4         15.0      (11.3)
US AIRWAYS GROUP  LCC US        8,131.0       (220.0)    (168.0)
SALLY BEAUTY HOL  SBH US        1,517.1        345.6     (523.9)
FORD MOTOR CO     F BB        183,156.0    (23,512.0)  (3,541.0)
AMER AXLE & MFG   AXL US        2,027.7         31.7     (520.4)
JAZZ PHARMACEUTI  JAZZ US          97.3        (24.2)     (16.3)
CENTENNIAL COMM   CYCL US       1,480.9        (52.1)    (925.9)
BLUEKNIGHT ENERG  BKEP US         297.3       (431.2)    (149.9)
RURAL/METRO CORP  RURL US         286.2         38.7     (100.9)
HALOZYME THERAPE  HALO US          51.5         38.3      (14.1)
MORGANS HOTEL GR  MHGC US         774.4         50.5       (4.3)
LIONS GATE        LGF US        1,592.9       (783.4)      (1.6)
RSC HOLDINGS INC  RRR US        2,690.2       (120.0)     (33.8)
AMR CORP          AMR US       25,885.0     (2,015.0)  (3,930.0)
NPS PHARM INC     NPSP US         193.8        129.0     (179.5)
CC MEDIA-A        CCMO US      17,286.8      1,240.8   (7,209.3)
SINCLAIR BROAD-A  SBGI US       1,539.8         52.1     (170.4)
ACCO BRANDS CORP  ABD US        1,064.0        242.5     (125.6)
MANNKIND CORP     MNKD US         239.6         11.0     (137.7)
CENVEO INC        CVO US        1,553.4        199.9     (183.8)
PALM INC          PALM US       1,007.2        141.7       (6.2)
QWEST COMMUNICAT  Q US         18,959.0       (424.0)  (1,241.0)
PDL BIOPHARMA IN  PDLI US         271.5        (66.5)    (434.9)
IDENIX PHARM      IDIX US          77.2         38.1       (7.3)
ARQULE INC        ARQL US         118.5         53.9       (4.1)
PLAYBOY ENTERP-B  PLA US          189.0        (12.4)     (27.6)
PLAYBOY ENTERP-A  PLA/A US        189.0        (12.4)     (27.6)
VIRGIN MOBILE-A   VM US           307.4       (138.3)    (244.2)
IDCENTRIX INC     IDCX US           -           (0.0)      (0.0)
GENCORP INC       GY US           963.4        140.3     (241.2)
CONSUMERS' WATER  CWI-U CN        887.2          3.2     (258.0)
WARNER MUSIC GRO  WMG US        3,655.0       (546.0)    (174.0)
GLG PARTNERS INC  GLG US          400.0        156.9     (285.6)
GLG PARTNERS-UTS  GLG/U US        400.0        156.9     (285.6)
EPICEPT CORP      EPCT SS          11.4          3.3      (10.2)
ABSOLUTE SOFTWRE  ABT CN          124.3         (5.1)      (2.6)
LIN TV CORP-CL A  TVL US          783.5         28.7     (156.5)
SANDRIDGE ENERGY  SD US         3,128.7       (109.4)    (118.5)
EASTMAN KODAK     EK US         6,791.0      1,423.0     (208.0)
HOVNANIAN ENT-A   HOV US        2,029.1      1,358.9     (137.0)
STEREOTAXIS INC   STXS US          50.9         (0.2)      (0.8)
GREAT ATLA & PAC  GAP US        2,677.1        (51.0)    (524.0)
EXELIXIS INC      EXEL US         419.7         12.8     (214.7)
MAGMA DESIGN AUT  LAVA US          74.6          9.6       (6.1)



                           *********

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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