TCR_Public/100903.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Friday, September 3, 2010, Vol. 14, No. 244

                            Headlines


1100 CHICO: Case Summary & 5 Largest Unsecured Creditors
1451 HI POINT: Case Summary & 2 Largest Unsecured Creditors
ABDUL HALIM: Wants to Borrow $1.5MM From Lone Oak; Oaktree Objects
ALBERTON DEVELOPERS: Voluntary Chapter 11 Case Summary
ALFRED VILLALOBOS: Taps Cooley LLP as Bankruptcy Co-Counsel

ALFRED VILLALOBOS: U.S. Trustee Forms 3-Member Creditors Committee
AMARK INDUSTRIES: Voluntary Chapter 11 Case Summary
AMERICAN INT'L: Files AIA IPO Application in Hong Kong
AMERICAN PATRIOT: Incurs $223,248 Net Loss in June 30 Quarter
AMH HOLDINGS: Moody's Upgrades Corporate Family Rating to 'B3'

ARMTEC HOLDINGS: S&P Assigns 'BB-' Corporate Credit Rating
ATLANTIC COAST: Case Summary & 6 Largest Unsecured Creditors
BEAVER CREEK: Files for Chapter 11 to Stop Foreclosure
BEAVER CREEK: Case Summary & 6 Largest Unsec. Creditors
BLOCKBUSTER INC: Didn't Make Interest Payment Due Wednesday

BLOCKBUSTER INC: Shareholders Seek Legal Recourse
BROWN SHOE: S&P Raises Corporate Credit Rating to 'B+'
CAPMARK FINANCIAL: Proposes Morgan Lewis as Special Counsel
CASINO REA: Court Wants Reorganization Plan Filed by September 17
CATHOLIC CHURCH: Rev. J. Lunness Offers Help to Abuse Survivors

CATHOLIC CHURCH: Stay as to Non-Debtors Extended Until Sept. 3
CATHOLIC CHURCH: Wilm. Committee Wants Removal of Deluca Cases
CATHOLIC CHURCH: Wilmington Wins OK to Hire R.M. Fields
CBGB HOLDINGS: Seeks Court OK of Guitar Hero Trademark Deal
CELL THERAPEUTICS: Incurs $4.83MM Loss from Operations in July

CENTAUR LLC: To Auction Valley View Downs on October 20
CENTRAL DELAWARE: Files Schedules of Assets and Liabilities
CES ENVIRONMENTAL: Bank of America Wants Conversion to Ch. 7
CHARLES COWIN: Files Schedules of Assets and Liabilities
CHINA TRACTOR: Posts $1.2 Million Net Loss in June 30 Quarter

CJ CONTRACTORS: General Contractor Can't Pursue Insurers
COASTAL CRAFTING: Case Summary & 20 Largest Unsecured Creditors
COLONIAL BANCGROUP: Judge Junks FDIC's $905 Million Demand
COPPER KING: Reorganization Case Transferred to District of Utah
COSINE COMMUNICATIONS: Plans to Deregister Common Stock

CPG INTERNATIONAL: S&P Puts 'B-' Rating on CreditWatch Positive
CRYSTAL SPRINGS: Can Access Lenox Mortgage's Cash Until Sept. 30
CRYSTAL SPRINGS: Plan Outline Hearing Set for September 16
DCM CONTRACTING: Organizational Meeting to Form Panel on Sept. 15
DENNIS GIBBS: Hearing on Case Conversion Set for September 29

DIME COMMUNITY: Fitch Affirms 'B/C' Individual Rating
DOLLAR THRIFTY: Avis Raises Offer to $1.35 Billion
EAST BEACHES: Voluntary Chapter 11 Case Summary
EAST CAMERON: Cedar Gas Wants Case Converted to Ch. 7 Liquidation
EAST CAMERON: U.S. Trustee Amends Creditors Committee

EAST CAMERON: Plan Confirmation Hearing Set for September 21
EUGENE HOBBS: Case Summary & 20 Largest Unsecured Creditors
EXCELLENCY INVESTMENT: Incurs $664,000 Net Loss in June 30 Quarter
FABRICATED PLASTICS: Organizational Meeting Set for Sept. 14
FAIRPOINT COMMS: Proposes Consulting Agreement With Hauser

FAIRPOINT COMMS: Proposes Plan Filing Exclusivity Until Oct. 22
FAIRPOINT COMMS: Removal Period Extended Until October 25
FARM CREEK: Case Summary & 5 Largest Unsecured Creditors
FRANK GOMES: Plan of Reorganization Wins Court Approval
FIRST RESERVE: Moody's Assigns 'B2' Corporate Family Rating

GARLOCK SEALING: Asbestos Committee Proposes Plan Schedule
GARLOCK SEALING: Asbestos Panel Wins OK to Tap Financial Advisor
GENERAL GROWTH: Concludes Auctions for Summerlin Lots
GENERAL GROWTH: Wins Nod to Hire Epiq as Voting Agent
GENERAL MOTORS: BMW & Punch Object to Pacts Assignment

GENERAL MOTORS: Old GM Seeks Authority to Vote on New GM Charter
GLENN WONG: Case Summary & 20 Largest Unsecured Creditors
GLOUCESTER ENGINEERING: Taps Hanify & King as Bankruptcy Counsel
GLOUCESTER ENGINEERING: U.S. Trustee Forms Creditors Committee
GLOUCESTER ENGINEERING: Committee Retains Nixon Peabody as Counsel

GSC GROUP: Wants Access to Lenders' Cash to Consummate Assets Sale
HAMPTON ROADS: Posts $52.6 Million in June 30 Quarter
HARRISBURG, PA: Dauphin Cty. Gives TD Bank Green-Light to Sue
HGI HOLDING: S&P Affirms Corporate Credit Rating at 'B'
HSH DELAWARE: Seeks Consensual Plan Confirmation on Oct. 19

JAPAN AIRLINES: To Expand Codeshare With Vietnam Airlines
JESSE CONNOR: Case Summary & 7 Largest Unsecured Creditors
JOHNNY NGUYEN: Case Summary & 8 Largest Unsecured Creditors
KEN & ASSOCIATES: Case Summary & 19 Largest Unsecured Creditors
LA CORTEZ: Incurs $2.9 Million Net Loss in June 30 Quarter

LANDRY'S HOLDINGS: Moody's Puts 'Caa1' Rating on $110 Mil. Notes
LAWRENCE WILEY: Voluntary Chapter 11 Case Summary
LESLIE CONTROLS: Court Schedules Oct. 12 Confirmation Hearing
LESLIE EZIDORE: Case Summary & 5 Largest Unsecured Creditors
LIONS GATE: Moody's Changes Outlook on 'B2' Rating to Positive

LONE TREE: Plans to Sell Various Property to Pay Off Debts
MEDIACOM COMMUNICATIONS: S&P Affirms 'B+' Corporate Credit Rating
MILTON QUACH: Case Summary & 14 Largest Unsecured Creditors
MINOR FAMILY: Files for Ch. 11 to Resolve Suits Over Hotel Project
MINOR FAMILY: Case Summary & 20 Largest Unsecured Creditors

MY PLACE: Voluntary Chapter 11 Case Summary
NACO, INCORPORATED: Case Summary & 2 Largest Unsecured Creditors
NALCO CO: S&P Changes Outlook to Positive, Affirms 'BB-' Rating
NAVISTAR INT'L: To Report 3rd Quarter Results on September 8
NEWPAGE CORPORATION: Elects C. Galbato as Chairman of Board

NORTEL NETWORKS: Disabled Employees Propose Rochon as Counsel
OBN HOLDINGS: Amends 10-K for Fiscal 2009, Posts $3.4MM Net Loss
P&C POULTRY: Files for Chapter 11 in Los Angeles
P&C POULTRY: Case Summary & 20 Largest Unsecured Creditors
PACIFIC SUN: Case Summary & 15 Largest Unsecured Creditors

PCS EDVENTURES!.COM: SEC Commences Civil Suit vs. Firm, 2 Execs.
PENHALL INTERNATIONAL: S&P Withdraws 'D' Issuer Credit Rating
PETER LONTAI: Case Summary & Largest Unsecured Creditor
PETROS ANDRIOPOULOS: Case Summary & 10 Largest Unsecured Creditors
PITCAIRN PROPERTIES: Files for Bankruptcy to Block Takeover Effort

PITCAIRN PROPERTIES: Case Summary & 6 Largest Unsecured Creditors
PLC SYSTEMS: Incurs $199,000 Net Loss in June 30 Quarter
POINT BLANK: To Give Creditors Access to Fin'l Data, Board Minutes
PRICHARD, ALABAMA: Judge Dismisses Chapter 9 Bankruptcy Case
PROFESSIONAL VETERINARY: Selling Assets at September 9 Auction

PROTOSTAR LTD: To Present Plan for Confirmation on Oct. 6
RADIO ONE: Extends Exchange Offer Until September 15
READ-RITE CORP: Hitachi Has No Binding Patent Deal With Firm
REGAL PLAZA: Case Summary & 20 Largest Unsecured Creditors
RESERVE DEVELOPMENT: Voluntary Chapter 11 Case Summary

RIVER ROAD: Loses Plan Filing Exclusivity
ROSALVA LUNA: Case Summary & 19 Largest Unsecured Creditors
ROSECROFT RACEWAY: Trustee Wants Case Converted to Chapter 7
SEA ISLAND: Polo Ralph Lauren Seeks Return of Golf Items
SELIM AMERICA: Section 341(a) Meeting Scheduled for Oct. 21

SELIM AMERICA: Asks for 30-Day Extension for Filing of Schedules
SELIM AMERICA: Taps Levene Neale as Bankruptcy Counsel
SITEL WORLDWIDE: S&P Gives Negative Outlook; Affirms 'B' Rating
SMART & FINAL: Moody's Assigns 'Caa2' Rating on $150.2 Mil. Loan
SOUTH TEXAS OIL: Lienholders' Intervention Motions Denied

SOUTHERN UNION: Fitch Affirms 'BB' Jr. Subordinated Rating
STEVE HUTTER: Case Summary & 11 Largest Unsecured Creditors
SUSAN MILLER: Case Summary & 20 Largest Unsecured Creditors
THREE AMIGO'S: Case Summary & 20 Largest Unsecured Creditors
TIMOTHY SEARS: Case Summary & 19 Largest Unsecured Creditors

TRICO MARINE: Gets Court's Nod to Hire Epiq as Claims Agent
TRICO MARINE: Wants Additional 30 Days to File Schedules
TRIKEENAN TILEWORKS: Files for Bankruptcy Under Chapter 11
TRIKEENAN TILEWORKS: Case Summary & 20 Largest Unsec. Creditors
UNISYS CORPORATION: Fitch Upgrades Issuer Default Rating to 'B+'

UNITED WESTERN: In Talks With JPMorgan to Amend Forbearance Deal
UNIVERSAL BIOENERGY: Incurs $439,400 Net Loss in June 30 Quarter
UNIVERSAL HEALTH: Fitch Downgrades Issuer Default Rating to 'BB-'
US AEROSPACE: Taps Rose Snyder as New Accountant
WAYTRONX INC: Closes $4 Million Term Note With Wells Fargo Capital

WE LEAD: Case Summary & 5 Largest Unsecured Creditors
WEYERHAEUSER COMPANY: Fitch Affirms 'BB+' Issuer Default Rating
WGMJR INC: Stay Lifted in Chapter 11 Case Filed in Bad Faith
WINDY AVENUE: Case Summary & Largest Unsecured Creditor

* Drunkenness No Defense for Lawyer's Bankruptcy Fraud

* Afghanistan Bank Teetering on Insolvency, Seeks U.S. Bailout
* SEC Decides Not to Sue Moody's

* Monomoy's Second Fund Likely to Surpass $350-Mil. Target

* Asst. U.S. Attorney Lane Becomes Manhattan Bankruptcy Judge
* Skadden's Butler Among Law360's 10 Most Admired Bankruptcy Attys

* BOOK REVIEW: The U.S. Healthcare Certificate of Need Sourcebook


                            *********


1100 CHICO: Case Summary & 5 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: 1100 CHICO, LLC
        19650 Kinzie Street
        Northridge, CA 91324

Bankruptcy Case No.: 10-21016

Chapter 11 Petition Date: September 1, 2010

Court: United States Bankruptcy Court
       Central District Of California (San Fernando Valley)

Judge: Maureen Tighe

Debtor's Counsel: Russell H. Rapoport, Esq.
                  LAW OFFICE OF RUSSELL H. RAPOPORT
                  16633 Ventura Blvd., Suite 804
                  Encino, CA 91436
                  Tel: (818) 906-1600
                  Fax: (818) 905-4211
                  E-mail: rrapoport@prllplaw.com

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

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

The petition was signed by David Honda, managing member.

Debtor's List of five Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Aris Anagnos                                     $2,500,000
8124 W 3rd Street
Los Angeles, CA 90048

David Honda                                      $150,000
19650 Kinzie Street
Northridge, CA 91324

Morris & Assoc.                                  $5,000
2312 W Victory Blvd
Burbank, CA 91506

Alston & Bird, LLP                               $3,000

Diamond Bar/Ranch                                Unknown
Center, LLC


1451 HI POINT: Case Summary & 2 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: 1451 Hi Point, LLC
        5699 Kanan Road, Suite 107
        Agoura Hills, CA 91301

Bankruptcy Case No.: 10-20992

Chapter 11 Petition Date: September 1, 2010

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

Judge: Maureen Tighe

Debtor's Counsel: Louis J. Esbin, Esq.
                  27201 Tourney Road, Suite 122
                  Valencia, CA 91355-1804
                  Tel: (661) 254-5050
                  Fax: (661) 254-5252
                  E-mail: Esbinlaw@sbcglobal.net

Scheduled Assets: $3,096,628

Scheduled Debts: $3,074,402

A list of the Company's two largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-20992.pdf

The petition was signed by David Fok, managing member.


ABDUL HALIM: Wants to Borrow $1.5MM From Lone Oak; Oaktree Objects
------------------------------------------------------------------
Abdul Halim Sheikh asks for authority from the U.S. Bankruptcy
Court for the Central District of California to obtain
postpetition secured financing from lenders led by Lone Oak Fund.

The DIP lenders have committed to provide up to $1.5 million,
which will be secured by a first priority lien on recently
constructed multiple unit commercial business and shopping center
in Oceanside, California.  The term will be 12 months and may be
extended, and the interest rate is 8.90%.  The loan provides for
interest only payments of $11,125 per month, payment of a broker's
fee of $15,000 and an origination fee of $26,250.

On behalf of the Debtor, James Andrew Hinds, Jr., Esq., at The Law
Offices of James Andrew Hinds, Jr., explains that the Debtor needs
the DIP financing to fund tenant improvements for the Oceanside
project.  A copy of the proposed budget for the Oceanside project
showing the uses of the borrowing is available for free at:

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

Mr. Hinds adds that the Debtor will also use the money to pay
administrative expenses incurred by the estate, and to fund
litigation of the estate against lenders East West Bank and
Oaktree Investment Fund, LLC, and general contractor Jaynes Corp.
Oaktree Investment is the assignor of East West Bank, the
construction lender for the Oceanside project.  The Bank ceased
funding the project prior to the last draw under the terms of the
construction loan causing a default with Jaynes.  The Debtor
accuses the Bank of fraud, lender liability, and breach of the
terms of the construction loan based upon written and oral
representations made to the Debtor and the project to provide an
extension on the construction loan and a mini-perm loan for the
project.

Prepetition, Oaktree held a senior lien against the Oceanside
Project, a junior lien against the Debtor's house, and a lien
interest in the Debtor's family stock portfolio.  According to the
Debtor, Oaktree is allegedly owed $10.57 million.  The equity
cushion available to Oaktree exceeds $2.0 million, the Debtor
says.

More information is available for free at:

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

                Oaktree Opposes DIP Financing

Oaktree opposes the Debtor's request to obtain DIP financing.
Oaktree claims that it is owed $110,734.48.  Oaktree says that it
has been suffering from negative amortization during the Debtor's
Chapter 11 case.  According to Oaktree, its claim is grossly
undersecured.  "'As is' value of the Oceanside collateral is only
$7,855,000.  The net equity in Sheikh's house (after deducting the
senior debt to Chase) is $395,000.  The stock is worth $100,000,"
Oaktree says.

The Debtor proposes to pay up to $500,000 of the new loan proceeds
to existing and future administrative claimants.  According to
Oaktree, this means only $1,000,000 of new loan proceeds would be
available to go toward "tenant improvements" or other Oceanside
property related matters.  The Oceanside property would only go up
in value by $845,000, Oaktree states.

Oaktree is represented by Law Offices of Kenneth H. Stone.

                     About Abdul Halim Sheikh

Palos Verdes Estates, California-based Abdul Halim Sheikh aka A.H.
Sheikh filed for Chapter 11 protection on Oct. 27, 2009 (Bankr.
Case C.D. Calif. No. 09-39652).  Paul R. Shankman, Esq.,
represents the Debtor in its restructuring effort.  In its
petition, the Debtor estimated assets and debts both ranging from
$10 million to $50 million.


ALBERTON DEVELOPERS: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Alberton Developers Inc.
        85-94 66th Avenue, 2nd Floor
        Rego Park, NY 11374

Bankruptcy Case No.: 10-48261

Chapter 11 Petition Date: August 31, 2010

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Carla E. Craig

Debtor's Counsel: Perry Ian Tischler, Esq.
                  38-39 Bell Blvd., Suite 200
                  Bayside, NY 11361
                  Tel: (718) 229-5390

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 Alexander Varveris, president.


ALFRED VILLALOBOS: Taps Cooley LLP as Bankruptcy Co-Counsel
-----------------------------------------------------------
The Hon. John L. Peterson of the U.S. Bankruptcy Court for the
District of Nevada authorized Alfred J.R. Villalobos to employ
Cooley LLP as its bankruptcy co-counsel and as special counsel.

Cooley LLP, together with Stephen R. Harris, Esq. at Belding,
Harris & Peroni, Ltd., is representing the Debtor in the Chapter
11 proceedings.

The Debtor is also authorized to pay Cooley LLP an advanced
retainer of $250,000.  All prepetition claims owed to Cooley LLP
are waived.

                    About Alfred J.R. Villalobos

Stateline, Nevada-based Alfred J.R. Villalobos -- together with
Arvo Art, Inc., and two other affiliates -- filed for Chapter 11
bankruptcy protection on June 9, 2010 (Bankr. D. Nev. Case No. 10-
52248).  Stephen R. Harris, Esq., at Belding, Harris & Petroni,
Ltd, serves as bankruptcy counsel to the Debtor.  The Company
estimated its assets and debts at $10 million to $50 million.


ALFRED VILLALOBOS: U.S. Trustee Forms 3-Member Creditors Committee
------------------------------------------------------------------
Sara L. Kistler, acting U.S. Trustee for Region 17, appointed
three members to the official committee of unsecured creditors in
the Chapter 11 cases of Alfred J.R. Villalobos.

The Creditors Committee members are:

1. Peppermill casinos, inc.
   Attn: Scott Loder, EFO
   2707 S. Virginia Street
   Reno, NV 89502
   Tel: (775) 689-8911
   Fax: (775) 689-8961

2. Atlantis Casino Resort Spa
   Attn: Debra Robinson
   3800 S. Virginia Street
   Reno, NV 89502
   Tel: (775) 824-4489
   Fax: (775) 332-9164

3. State of California, Office of the Attorney General
   Attn: Irene K. Tamura
   1300 I Street, Suite 125
   Sacramento, CA 95814
   Tel: (916) 322-2587
   Fax: (916) 327-6833

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.

Stateline, Nevada-based Alfred J.R. Villalobos -- together with
Arvo Art, Inc., and two other affiliates -- filed for Chapter 11
bankruptcy protection on June 9, 2010 (Bankr. D. Nev. Case No. 10-
52248).  Stephen R. Harris, Esq., at Belding, Harris & Petroni,
Ltd, serves as bankruptcy counsel to the Debtor.  Cooley LLP is
the bankruptcy co-counsel and special counsel.  The Company
estimated assets and debts at $10 million to $50 million in its
Chapter 11 petition.


AMARK INDUSTRIES: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Amark Industries, Inc.
        355 Eisenhower Parkway
        Livingston, NJ 07039
        Tel: (973) 992-8900

Bankruptcy Case No.: 10-37191

Chapter 11 Petition Date: September 1, 2010

Court: U.S. Bankruptcy Court
       District of New Jersey (Newark)

Judge: Rosemary Gambardella

Debtor's Counsel: David Edelberg, Esq.
                  NOWELL AMOROSO KLEIN BIERMAN, P.A.
                  155 Polifly Road
                  Hackensack, NJ 07601
                  Tel: (201) 343-5001
                  Fax: (201) 343-5181
                  E-mail: dedelberg@njbankruptcy.com

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

Estimated Debts: $100,001 to $500,000

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

The petition was signed by Mark Venturi, president.


AMERICAN INT'L: Files AIA IPO Application in Hong Kong
------------------------------------------------------
Dow Jones Newswires' Nisha Gopalan and The Wall Street Journal's
Alison Tudor report that American International Group Inc.'s
application to list its main pan-Asian life insurer contained a
record 11 bookrunners, people familiar with the matter said.
According to the report, AIG lodged the application to list AIA
Group Ltd. with the Hong Kong stock exchange as expected on
Thursday, the first formal step in a process that could culminate
with a stock-market debut around October.

The report says the filing included the roster of banks it has
chosen to help sell AIA stock:

     * Barclays Capital, the investment-banking arm of Barclays
       PLC;
     * J.P. Morgan Chase & Co.;
     * Malaysian financial-services firm CIMB Group;
     * Citigroup Inc.;
     * Goldman Sachs Group Inc.;
     * Morgan Stanley;
     * Deutsche Bank AG;
     * Bank of America Corp.'s Bank of America Merrill Lynch;
     * Credit Suisse Group;
     * UBS AG; and
     * Chinese bank ICBC International Holdings Ltd.

According to the report, data provider Dealogic said this is the
most bookrunners ever for an initial public offering.
Agricultural Bank of China Ltd. used 10 in its recent US$22.1
billion offering, which was the world's largest by value.

The report notes bookrunners help the banks in charge of the sale,
known as global coordinators, sell the shares to investors.
Citigroup, Goldman Sachs, Morgan Stanley and Deutsche Bank are the
global coordinators for the AIA IPO.

The report says it is not clear how much AIG is paying banks in
fees.

The report also relates AIG's filing contained a valuation range
for AIA, which people familiar with the matter said was very wide
and only provided so that the bourse can assess potential listing
fees.  AIG hopes to raise about US$15 billion from the IPO, people
have said.  The money would go toward repaying the Federal Reserve
Bank of New York, which holds $15 billion in preferred equity in
AIA and is owed another $21 billion under a credit facility it
provided to AIG.  Only after the New York Fed is repaid can AIG
start to plan for the government's exit.

The report notes one a company submits the so-called A1 filing to
the Hong Kong stock exchange, the bourse holds a hearing in the
following weeks to approve the listing.  The company begins pre-
marketing and meetings with potential investors if the listing is
approved.

                             About AIG

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

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

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


AMERICAN PATRIOT: Incurs $223,248 Net Loss in June 30 Quarter
-------------------------------------------------------------
American Patriot Financial Group, Inc., filed its quarterly report
on Form 10-Q, reporting a net loss of $223,248 on $912,371 of net
interest income before provision for loan losses for the three
months ended June 30, 2010, compared with a net loss of
$925,157 on $691,343 of net interest income before provision for
loan losses for the same period of 2009.

The Company's balance sheet at June 30, 2010, showed
$108.2 million in total assets, $105.1 million in total
liabilities, and shareholders' equity of $3.1 million.

As reported in the Troubled Company Reporter on April 27, 2010,
Hazlett, Lewis & Bieter, PLLC, in Chattanooga, Tenn., expressed
substantial doubt about the Company's ability to continue as a
going concern, following its 2009 results.  The independent
auditors noted that the Company has incurred significant losses
for the past three years resulting in a retained deficit of
$3.6 million.  "At December 31, 2009, the Company and its
subsidiary were undercapitalized based on regulatory standards and
has consented to an Order to Cease and Desist with its primary
federal regulator that requires, among other provisions, that it
achieve regulatory capital thresholds that are significantly in
excess of its current actual capital levels.  The Company's
nonperforming assets have increased significantly during 2009
related primarily to deterioration in the credit quality of its
loans collateralized by real estate.  The Company, at the holding
company level, has a note payable [$1,000,000] that is due
June 29, 2010; however, the Company does not currently have
sufficient funds to pay off this note and it is uncertain whether
the lender will renew the note at that time, or whether the
Company can raise sufficient capital to payoff the note.  This
note is securitized by 100 percent of the stock of the
subsidiary."

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

               http://researcharchives.com/t/s?6aa0

                      About American Patriot

Based in Greenville, Tenn., American Patriot Financial Group, Inc.
is a one-bank holding company formed as a Tennessee corporation to
own the shares of American Patriot Bank.  The Bank is the only
subsidiary of the Corporation.

American Patriot Bank commenced operations as a state chartered
bank on July 9, 2001.  The Bank had total assets of roughly
$118 million at December 31, 2009.  The Bank is not a member of
the Federal Reserve System.

The Bank's customer base consists primarily of small to medium-
sized business retailers, manufacturers, distributors, land
developers, contractors, professionals, service businesses and
local residents.

On August 18, 2010, the Company received from the Federal Deposit
Insurance Corporation, a Supervisory Prompt Corrective Action
Directive, dated August 17, 2010, due to American Patriot Bank's
"significantly undercapitalized" status.  The Directive requires
that the Bank submit an acceptable capital restoration plan on or
before August 31, 2010, providing that, among other things, at a
minimum, the Bank shall restore and maintain its capital to the
level of "adequately capitalized."


AMH HOLDINGS: Moody's Upgrades Corporate Family Rating to 'B3'
--------------------------------------------------------------
Moody's Investors Service upgraded AMH Holdings, LLC's Corporate
Family Rating and Probability of Default Rating to B3 from Caa1
and the rating for the second lien senior secured notes due 2016
issued by Associated Materials, LLC, to B1 from B2.  In a related
rating action, Moody's affirmed AMH's senior subordinated notes
due 2014 at Caa2.  The outlook is stable.

These ratings/assessments were affected by this action:

AMH Holdings, LLC:

* Corporate Family Rating upgraded to B3 from Caa1;

* Probability of Default Rating upgraded to B3 from Caa1;

* $431 million senior subordinated notes due 2014 affirmed at Caa2
  (LGD5, 79%).

Associated Materials, LLC:

* $200 million second lien senior secured notes due 2016 upgraded
  to B1 (LGD2, 24%) from B2 (LGD2, 27%).

                        Ratings Rationale

The upgrade in AMH's Corporate Family Rating to B3 from Caa1
reflects improved operating performance resulting in stronger
leverage and coverage metrics.  The upgrade in Associated's second
lien notes due 2016 corresponds to the upgrade in AMH's
fundamental ratings.

AMH's B3 Corporate Family Rating considers the company's exposure
to cyclical end markets including new home construction and the
repair and remodeling sector-- the main drivers of the company's
revenues.  AMH is also exposed to volatile raw material costs for
commodities such as vinyl resin, aluminum, steel and glass.

At the same time Moody's recognizes AMH's sound business
fundamentals as one of the larger manufacturers and distributors
of windows and vinyl siding in North America.  Additionally, AMH's
cost reduction actions appear to be resulting in improved
operating efficiencies.  Its adjusted EBITA margin has improved to
12.9% for 2Q10 versus 11.5% for 2Q09 and Moody's anticipates
further margin improvement.  The company's debt leverage
characteristics now appear manageable.  EBITA-to-interest expense
stood at 1.4 times for LTM 2Q10 and debt-to-EBITDA was 5.4 times
(as adjusted by Moody's).

Operating performance that results in EBITA-to-interest expense
trending towards 2.5 times or debt-to-EBITDA sustained below 5.0
times (all ratios adjusted per Moody's methodology) could result
in a rating upgrade.

Factors which might result in a downgrade in the ratings include
deterioration in the company's liquidity profile or erosion in
operating performance, resulting in EBITA-to-interest expense
trending towards 1.0 times or debt-to-EBITDA near 6.0 times (all
ratios adjusted per Moody's methodology).

The last press release was on October 27, 2009, at which time
Moody's affirmed AMH's Caa1 Corporate Family Rating, but changed
the outlook to stable from negative.

AMH Holdings, LLC, headquartered in Cuyahoga Falls, Ohio, is a
North American manufacturer and distributor of exterior
residential building products.  The company's core products are
vinyl windows, vinyl siding, aluminum trim coil, and aluminum and
steel siding and accessories.  Revenues for the last twelve months
through July 3, 2010, totaled $1.1 billion.


ARMTEC HOLDINGS: S&P Assigns 'BB-' Corporate Credit Rating
----------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'BB-'
long-term corporate credit rating to Guelph, Ont.-based Armtec
Holdings Ltd. The outlook is stable.

At the same time, S&P assigned its 'B' issue-level rating, with a
'6' recovery rating, to the company's proposed C$150 million
senior unsecured notes.  The '6' recovery rating indicates S&P's
expectation of negligible (0%-10%) recovery in the event of
default.

"The ratings on Armtec reflect what S&P view as its exposure to
the cyclical commercial and residential construction sectors,
exposure to volatile raw-material costs, and its distribution/
future dividend policy, which limits discretionary cash flow
generation," said Standard & Poor's credit analyst Jamie
Koutsoukis.  "Partially offsetting these risks, in S&P's opinion,
are the company's diversity, relatively stable operating margins,
strong market share in the products it produces, and good core
revenue base servicing infrastructure spending in Canada," Ms.
Koutsoukis added.

Armtec is Canada's largest manufacturer and marketer of
infrastructure products, offering a range of engineered
construction solutions for customers in a cross-section of
industries located in each main region of Canada, as well as in
selected markets globally.  These markets include Canada's
national and regional public infrastructure markets and private
sector markets in agricultural drainage, commercial building,
residential construction, and natural resources.  Armtec's range
of engineered solutions include products for drainage, bridge
applications, soil retention, rehabilitation and water management
systems, as well as a full suite of noise barriers, and acoustic
enclosure and wall systems, along with associated retaining and
traffic barrier systems.

The stable outlook reflects S&P's expectation that Armtec will see
continued demand for its products supported by its good position
servicing the Canadian national and regional public infrastructure
markets.  Furthermore, the outlook incorporates S&P's view that
the company will be able to continue to generate margins at or
near current levels and maintain its total adjusted leverage below
4x.  Standard & Poor's could consider lowering the rating if
financial measures deteriorate from current levels, with adjusted
debt to EBITDA exceeding 4.2x or adjusted FFO to debt falling
below 15% on a sustained basis.  In addition, S&P could lower the
ratings if S&P see deterioration in Armtec's operating margins as
a result of input price escalations, which the company is unable
to pass through to its customers.  Conversely, an upgrade would
require the company to deleverage, where adjusted debt to EBITDA
falls near or below 3.4x, while maintaining its current operating
margins.


ATLANTIC COAST: Case Summary & 6 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Atlantic Coast Company, Inc.
        1 Morton Drive, Ste. 503
        P.O. Box 5667
        Charlottesville, VA 22903

Bankruptcy Case No.: 10-62527

Chapter 11 Petition Date: August 31, 2010

Court: United States Bankruptcy Court
       Western District of Virginia (Lynchburg)

Debtor's Counsel: Douglas E. Little, Esq.
                  P.O. Box 254
                  Charlottesville, VA 22902
                  Tel: (434) 977-4500
                  E-mail: delittleesq@aol.com

Scheduled Assets: $68,084

Scheduled Debts: $146,539

A list of the Company's six largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/vawb10-62527.pdf

The petition was signed by Matthew Bloxsom, president.


BEAVER CREEK: Files for Chapter 11 to Stop Foreclosure
------------------------------------------------------
Beaver Creek Realty Corp. and three affiliates filed Chapter 11
petitions on Aug. 27 in White Plains, New York (Bankr. S.D.N.Y.
Lead Case No. 10-23784).

Bill Rochelle, the bankruptcy columnist for Bloomberg News, said
the Chapter 11 petition was filed to stop Astoria Federal Savings
& Loan Assoc. from foreclosing their four apartment buildings.

Three of the buildings are in Manhattan's Harlem neighborhood and
one in Yonkers, New York.  The monthly rent roll is $103,000,
according to a court filing.

According to the Bloomberg report, the Debtors owe New York-based
Astoria Federal $8.6 million on the mortgages.  Beaver Creek said
that the mortgages became delinquent as a result of increasing
taxes, mortgage amortization and capital expenditures.


BEAVER CREEK: Case Summary & 6 Largest Unsec. Creditors
-------------------------------------------------------
Debtor: Beaver Creek Realty Corp.
        459 Columbus Avenue
        New York, NY 10024

Bankruptcy Case No.: 10-23784

Chapter 11 Petition Date: August 27, 2010

Court: U.S. Bankruptcy Court
       Southern District New York (White Plains)

Judge: Robert D. Drain

Debtor's Counsel: Kevin J. Nash, Esq.
                  GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP
                  1501 Broadway, 22nd Floor
                  New York, NY 10036
                  Tel: (212) 301-6944
                  Fax: (212) 422-6836
                  E-mail: KJNash@Finkgold.com

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

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

Debtor-affiliates that filed for Chapter 11 on August 27:

  1. 133 West 145th Street Realty Corp.
  2. 304 West 147th Street Realty Corp.
  3. Sol Vista Realty Corp.

A list of Beaver Realty's six largest unsecured creditors filed
together with the petition is available for free at:

             http://bankrupt.com/misc/nysb10-23784.pdf

The petition was signed by Alan Suridis, president.


BLOCKBUSTER INC: Didn't Make Interest Payment Due Wednesday
-----------------------------------------------------------
Maxwell Murphy, writing for Dow Jones Newswires, reports that
Blockbuster Inc. confirmed it didn't make an interest payment due
Wednesday on its subordinated debt, exacerbating a situation that
may see the troubled movie-rental company file for bankruptcy
before month's end.

According to Dow Jones, the semi-annual payment of $13.5 million
on the $300 million in 9% senior subordinated debt, issued in
August 2004 and due two years from now, would have caused its
forbearance agreement with holders of its roughly $598 million in
11.75% senior secured notes, issued last year and due in 2014, to
terminate.  Blockbuster entered into the agreement on July 1 to
preserve liquidity in lieu of making a principal and interest
payment on the senior notes.

Blockbuster's agreement with the senior lenders, already extended
once, is effective until Sept. 30.  Under the pact, approved by
holders of 70% of the senior lenders, these lenders are allowed to
get frequent updates on Blockbuster's financial condition, and the
deal was widely seen as the precursor to a bankruptcy that would
give the senior debt holders control of the vast majority of
Blockbuster's equity.

The Los Angeles Times, citing unnamed sources, last week reported
that Blockbuster and its senior lenders were in talks with the
movie studios, which supply it with exclusive rights to rent
movies on the day they are released, regarding a mid-September,
prepackaged bankruptcy filing.  The bankruptcy would be designed
to ease the burden of the roughly $900 million in debt and allow
it to exit leases and close hundreds of its more than 3,000 U.S.
stores.  It would allow the chain to keep operating and avoid the
liquidation fate suffered by competitor Movie Gallery Inc., but
would likely result in subordinated debt holders losing most to
all of their investment and almost certainly leave holders of its
convertible stock and two classes of common stock holding
worthless paper.

                      About Blockbuster Inc.

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

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

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

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

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


BLOCKBUSTER INC: Shareholders Seek Legal Recourse
-------------------------------------------------
Erik Gruenwedel, writing for Home Media Magazine, reports that a
group of Blockbuster Inc. shareholders claiming to represent more
than 26% of the company's voting shares said it is seeking legal
recourse should the company file for bankruptcy, as reported in
the media.

"While we do understand that there are some negotiations that need
to be kept quiet until completed, it has been hard to read these
stories over and over again in the press.  As we are not included
in these negotiations, we have had no choice but to rely on the
press for information," Niko Celentano, who heads the group of 480
Blockbuster shareholders, wrote CEO Jim Keyes on August 29.

"With the news out now that Blockbuster is looking to file a
bankruptcy, you have left us no choice but to prepare our legal
representation should this occur and we as shareholders, not be
included in any settlements," Mr. Celentano said.  "Please
understand this loyal group of shareholders has stuck with the
company through this tough time and fully expect to be part of the
turnaround that is ahead. We still are hopeful that Blockbuster
will be able to complete an out of court settlement here as this
would be in the best interest of all involved."

A copy of Mr. Celentano's August 29 letter is available at no
charge at http://ResearchArchives.com/t/s?6aa7

                      About Blockbuster Inc.

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

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

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

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

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


BROWN SHOE: S&P Raises Corporate Credit Rating to 'B+'
------------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
credit rating on St. Louis-based Brown Shoe Co. Inc. to 'B+' from
'B'.  At the same time, S&P raised the issue-level rating on the
company's unsecured notes to 'B+' from 'B'.

"The upgrade reflects a continuation of performance gains over the
past few quarters and moderate leverage reduction during that
period," said Standard & Poor's credit analyst David Kuntz.  The
stable ratings outlook reflects S&P's expectation that these
trends are likely to continue in the near term because of on-trend
merchandise and increases in wholesale purchases by other
retailers and department stores.  Additionally, S&P believes that
the company will use a portion of its free operating cash flow to
reduce its funded debt over the near term.


CAPMARK FINANCIAL: Proposes Morgan Lewis as Special Counsel
-----------------------------------------------------------
Capmark Financial Group Inc. and its units seek the Court's
authority to employ Morgan, Lewis & Bockius LLP as their special
counsel, nunc pro tunc to August 13, 2010.

Morgan Lewis will serve as the Debtors' special counsel in
connection with certain labor and employment matters and
disputes, including, without limitation, the proceeding styled
Owen J. Maguire v Capmark Finance, Inc., civil action 09-0692,
pending before the U.S. District Court for the Eastern District
of Pennsylvania.

The Debtors seek to employ Morgan Lewis because of its extensive
history and experience as their primary outside counsel in
connection with labor and employment matters.

The attorney in charge of the engagement is Michael L. Banks, a
partner and member of Morgan Lewis's labor and employment group.

The Debtors propose that Morgan Lewis will:

  (a) represent them in connection with the Macquire Matter and
      provide advice and litigation services related to that
      matter; and

  (b) advise them with respect to certain other labor and
      Employment matters.

The Debtors will pay Morgan Lewis on an hourly basis.  Currently,
the firm's hourly rates are:

      Title                      Rate/Hour
      -----                      ---------
      Partners                   $695-$530
      Attorneys                  $490-$425
      Others                     $275-$175

The Debtors will also reimburse Morgan Lewis for its actual,
necessary expenses and charges incurred.

According to the Debtors, Morgan Lewis held an advance payment
retainer totaling $1,568 as of the Petition Date.  The advance
payment retainer will be applied to postpetition fees and
expenses approved by the Court.

Michael L. Banks, Esq., at Morgan, Lewis & Bockius LLP, in
Philadelphia, Pennsylvania, assures the Court that neither he nor
any member, counsel, associate or other employee of Morgan Lewis,
represents or holds any interest adverse to the Debtors, their
estates, creditors, or affiliates with respect to the matters
upon which Morgan Lewis is to be employed.

                      About Capmark Financial

Based in Horsham, Pennsylvania, Capmark Financial Group Inc. --
http://www.capmark.com/-- is a diversified company that provides
a broad range of financial services to investors in commercial
real estate-related assets.  Capmark has three core businesses:
lending and mortgage banking, investments and funds management,
and servicing.  Capmark operates in North America, Europe and
Asia.  Capmark has 1,000 employees located in 37 offices
worldwide.

On October 25, 2009, Capmark Financial Group Inc. and certain of
its subsidiaries filed voluntary petitions for relief under
Chapter 11 (Bankr. D. Del. Case No. 09-13684)

Capmark's financial advisors are Lazard Freres & Co. LLC and
Loughlin Meghji + Company.  Capmark's bankruptcy counsel is Dewey
& LeBoeuf LLP.  Richards, Layton & Finger, P.A., serves as local
counsel.  Beekman Advisors, Inc., is serving as strategic advisor.
KPMG LLP is tax and accounting advisor.  Epiq Bankruptcy
Solutions, LLC, is the claims and notice agent.

Capmark had total assets of US$20 billion against total debts of
US$21 billion as of June 30, 2009.

Protech Holdings C, LLC, an affiliate of Capmark, filed for
Chapter 11 protection on July 29, 2010 (Bankr. D. Del. Case No.
10-12387).  The Debtor estimated assets and debts in excess of $1
billion as of the filing date.

Since filing in Chapter 11, Capmark completed three sales to
generate more than $1 billion cash. Berkshire Hathaway Inc. and
Leucadia National Corp. bought most of the business for
$468 million.

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


CASINO REA: Court Wants Reorganization Plan Filed by September 17
-----------------------------------------------------------------
The Hon. Robin L. Riblet of the U.S. Bankruptcy Court for the
Central District of California has continued until October 6,
2010, at 2:00 p.m., the hearing to consider U.S. Bank National
Association's motion to dismiss, or in the alternative, appoint a
Chapter 11 trustee in Casino REA Corporation's case.

Secured creditor, U.S. Bank, as trustee for the Registered Holders
of ML-CFC Commercial Mortgage Trust 2007-8, Commercial Pass-
Through Certificates, Series 2007-8, explained that the Debtor's
100% shareholder and sole manager commenced the bankruptcy filing
in bad faith by, among other things,

   --  misappropriating or diverting from the Debtor between
       $205,800 and $326,239 in the month leading up to the
       bankruptcy filing; and

    -- utilizing the Chapter 11 process to hinder and delay the
       trust's efforts to obtain the appointment of a receiver and
       foreclose the Debtor's property.

The Court also ordered that the Debtor file a Disclosure Statement
and Chapter 11 Plan of Reorganization by September 17.

At the hearing, the Court will also gauge the Debtor's progress,
including but not limited to the Debtor's ability to confirm a
feasible Chapter 11 Plan of Reorganization within a reasonable
time.

                         About Casino REA

Moorpark, California-based Casino REA Corporation, dba Casino Self
Storage, filed for Chapter 11 bankruptcy protection on May 20,
2010 (Bankr. C.D. Calif. Case No. 10-12502).  Thomas J. Polis,
Esq., at Polis & Associates, APLC, assists the Company in its
restructuring effort.  In its, the Company disclosed $10,089,984
in assets and $11,516,395 in liabilities.


CATHOLIC CHURCH: Rev. J. Lunness Offers Help to Abuse Survivors
---------------------------------------------------------------
Reverend John Lunness of New Castle, Delaware, wrote to the U.S.
Bankruptcy Court for the District of Delaware to inform Judge
Christopher S. Sontchi of certain avenue to aid healing for clergy
abuse survivors.

Rev. Lunness relates that he is a victim of clergy sexual abuse
himself and also a priest for the Catholic Diocese of Wilmington,
Inc.  "As both I completely understand the horror of clergy sexual
abuse.  It was over 22 years before I was even able to speak it
out loud," he says.

In his letter, Rev. Lunness shares that he has done some work with
Grief to Grace -- www.grieftograce.org -- in working with healing
of abused men and women, and other kinds of trauma.  He avers that
a four-day, very intense retreat has worked very well as
supplemental to traditional therapy, which lacks a spiritual
dimension to the healing process.

"A spiritual component is necessary since a grievous spiritual
betrayal has been experienced by victims," Rev. Lunness stresses
out.  "I would like to make the victims aware of this avenue to
aid in their healing," he adds.

                   About the Diocese of Wilmington

The Diocese of Wilmington covers Delaware and the Eastern Shore of
Maryland and serves about 230,000 Catholics.  The Delaware diocese
is the seventh Roman Catholic diocese to file for Chapter 11
protection to deal with lawsuits for sexual abuse.  Previous
filings were by the dioceses in Spokane, Washington; Portland,
Oregon; Tucson, Arizona; Davenport, Iowa, Fairbanks, Alaska; and
San Diego, California.

The bankruptcy filing automatically stayed eight consecutive abuse
trials scheduled in Delaware scheduled to begin October 19.  There
are 131 cases filed against the Diocese, with 30 scheduled for
trial.

The Diocese filed for Chapter 11 protection on October 18, 2009
(Bankr. D. Del. Case No. 09-13560).  Attorneys at Young Conaway
Stargatt & Taylor, LLP, serve as counsel to the Diocese.  The
Ramaekers Group, LLC, is the financial advisor.  The Diocese
estimated assets of $50 million to $100 million and debts between
$100 million and $500 million in its Chapter 11 petition.
(Catholic Church Bankruptcy News; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000).


CATHOLIC CHURCH: Stay as to Non-Debtors Extended Until Sept. 3
--------------------------------------------------------------
Judge Christopher S. Sontchi of the United States Bankruptcy Court
for the District of Delaware extended the previously imposed
automatic stay as to Non-Debtor Defendants through and including
September 3, 2010, except with respect to certain cases.

The stay under Sections 105(a) and 362 of the Bankruptcy Code with
regard to the Non-Debtor Defendants will no longer apply to eight
cases pending in the Delaware Superior Court, seven of which
involves Francis DeLuca:

  * John Doe #2 (C.A. No. 08C-06-017 (JTV));
  * John Doe #3 (C.A. No. 08C-06-033 (JTV));
  * John Doe #4 (C.A. No. 08C-10-028 (JTV));
  * Vai (C.A. No. 08C-06-044 (JTV));
  * Schulte (C.A. No. 08C-07-017 (JTV));
  * Sowden (C.A. No. 08C-06-054 (JTV));
  * Flanigan (C.A. No. 08C-05-040 (JTV)); and
  * Joseph Curry (C.A. No. 08C-08-043 (CLS)).

The eight cases may now proceed against the Non-Debtor Defendants
as the presiding judge in each case sees fit, Judge Sontchi ruled.

The stay under Sections 105(a) and 362 will continue to apply to
Mary Dougherty, whose case is captioned Mary Dougherty v. Catholic
Diocese of Wilmington, Inc., and Holy Rosary Roman Catholic
Church, C.A. No. 08C-08-026 (THG), provided that the parties may
proceed with scheduling a trial and related dates.

As previously agreed, stay of the cases as to the Non-Debtor
Defendants does not apply to Barry Lamb (C.A. 09C-06-187 (CLS))
nor Raymond Donahue (C.A. No. S08C-09-007 (THG)).

In his order to the Catholic Diocese of Wilmington, Inc.'s highly
contested Motion to renew the existing extension of the automatic
stay, Judge Sontchi found that:

  (1) allowing the trials and the pretrial preparations to
      continue in the 7 DeLuca Cases, as well as the Curry Case,
      will not adversely affect the mediation nor the likelihood
      of the mediation being successful;

  (2) allowing the Dougherty Case to proceed with regard to
      scheduling only will not adversely affect the mediation;

  (3) there is significant risk of irreparable harm to the
      DeLuca Plaintiffs, Mr. Curry and Ms. Dougherty by a
      further extension of the stay; and

  (4) the balance of harms and the public interest favor
      allowing these trials, and in the case of Ms. Dougherty,
      the scheduling of her trial to go forward.

As widely reported, Judge Sontchi's order came after emotional and
tearful Plaintiffs stood as witnesses in the objections to the
Motion to Renew asserted by the Official Committee of Unsecured
Creditors and the Unofficial Committee of 91 State Court Abuse
Survivors.

Initial mediation sessions in the Diocese's bankruptcy case have
failed.  Talks are expected to resume in late August or early
September 2010.  The Diocese has revealed that it intends to file
a plan of reorganization before the September 24, 2010 omnibus
hearing, if the mediation fails.

A certain William R. Casey wrote to Judge Sontchi thanking the
judge for his ruling, saying it "brings great relief to countless
survivors and their supporters," who want to prove their claims.

"That opportunity has been closed in so many instances, but your
ruling now gives survivors an opportunity to seek justice," Mr.
Casey tells Judge Sontchi.

Judge Sontchi will convene a hearing on September 3, 2010, at
9:30 a.m. to consider whether a further extension of the stay to
the Non-Debtor cases and Ms. Dougherty is appropriate, and to
consider whether the general stay of the bankruptcy should be
lifted.

                   About the Diocese of Wilmington

The Diocese of Wilmington covers Delaware and the Eastern Shore of
Maryland and serves about 230,000 Catholics.  The Delaware diocese
is the seventh Roman Catholic diocese to file for Chapter 11
protection to deal with lawsuits for sexual abuse.  Previous
filings were by the dioceses in Spokane, Washington; Portland,
Oregon; Tucson, Arizona; Davenport, Iowa, Fairbanks, Alaska; and
San Diego, California.

The bankruptcy filing automatically stayed eight consecutive abuse
trials scheduled in Delaware scheduled to begin October 19.  There
are 131 cases filed against the Diocese, with 30 scheduled for
trial.

The Diocese filed for Chapter 11 protection on October 18, 2009
(Bankr. D. Del. Case No. 09-13560).  Attorneys at Young Conaway
Stargatt & Taylor, LLP, serve as counsel to the Diocese.  The
Ramaekers Group, LLC, is the financial advisor.  The petition says
assets range $50,000,001 to $100,000,000 while debts are between
$100,000,001 to $500,000,000. (Catholic Church Bankruptcy News;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


CATHOLIC CHURCH: Wilm. Committee Wants Removal of Deluca Cases
--------------------------------------------------------------
The Official Committee of Unsecured Creditors of the Catholic
Diocese of Wilmington, Inc., asks the U.S. Bankruptcy Court for
the District of Delaware to:

  (a) fix September 6, 2010, as the deadline for the removal
      under of any of the seven of the cases involving
      Francis DeLuca and Joseph Curry's case pursuant to Rule
      9027 of the Federal Rules of Bankruptcy Procedure; and

  (b) establish a "floating" deadline for the removal of all
      other cases involving abuse survivor suits against the
      Diocese under Rule 9027 that is the earlier of:

      * the deadline set by Rule 9027(a); or
      * 90 days prior to any of the case's state court trial
        date.

The trials of the DeLuca Cases were scheduled to commence on
October 25, 2010.

As previously reported, the Creditors Committee objected to the
Diocese's third request to extend through October 28, 2010, the
time within which the Diocese may remove various civil actions
pending as of the Petition Date.  Judge Sontchi has yet to enter
his ruling on the Diocese's third extension request.

The fixing of the date by which state court abuse survivor cases
must be removed is essential to prevent further harm to abuse
survivors, and to help ensure that actual progress is made in the
bankruptcy case, Laura Davis Jones, Esq., at Pachulski Stang Ziehl
& Jones LLP, in Wilmington, Delaware, tells Judge Sontchi.  Absent
that relief, she alleges, the Diocese and the Non-Debtor
Defendants may easily vacate upcoming trial dates on the eve of
trial enabling them and their insurance carriers to avoid the risk
of trial verdicts.

In the absence of hard trial dates, the insurance carriers will
not make meaningful settlement offers and the case will not
advance, Ms. Jones contends.  She asserts that a lack of progress
prejudices the creditors' ability to obtain a timely resolution of
the Chapter 11 case.

President Judge Vaughn of the Superior Court of the State of
Delaware has reserved approximately two months of trial time for
the DeLuca Cases, which involve the Diocese and St. Elizabeth's
parish, St. Matthew Parish and St. John the Beloved parish, Ms.
Jones relates.  She adds that the Diocese is a co-defendant in the
Curry Case, along with St. Dennis' Roman Catholic Church.  The
trial in the Curry Case is set to commence on October 18, 2010.

During the hearing on the Diocese's request to extend the stay,
the Bankruptcy Court found that the DeLuca plaintiffs and Mr.
Curry will suffer irreparable injury if they lose their trial
dates, Ms. Jones further points out.

"The Committee believes that progress in these cases will not
occur until the parishes and their insurance carriers are facing
the risk and pressure of trial dates that cannot be easily vacated
by the filing of a notice of removal," Ms. Jones tells Judge
Sontchi.  "The Committee recognizes that it is possible the non-
debtor parties and the carriers may simply defend the actions and
not settle but the likelihood of meaningful participation by the
carriers is greatly enhanced if the trial dates cannot be evaded,"
she continues.

The Creditors Committee also seeks an expedited hearing on its
request.

Jacobs & Crumplar, P.A., and The Neuberger Firm, P.A., join the
Creditors Committee's requests.  The two firms represent many
unsecured creditors asserting personal injury claims against the
Diocese.

                         *     *     *

Judge Sontchi denied the Creditors Committee's Motion to expedite
the hearing saying it has not established sufficient cause to
justify the relief requested.

                   About the Diocese of Wilmington

The Diocese of Wilmington covers Delaware and the Eastern Shore of
Maryland and serves about 230,000 Catholics.  The Delaware diocese
is the seventh Roman Catholic diocese to file for Chapter 11
protection to deal with lawsuits for sexual abuse.  Previous
filings were by the dioceses in Spokane, Washington; Portland,
Oregon; Tucson, Arizona; Davenport, Iowa, Fairbanks, Alaska; and
San Diego, California.

The bankruptcy filing automatically stayed eight consecutive abuse
trials scheduled in Delaware scheduled to begin October 19.  There
are 131 cases filed against the Diocese, with 30 scheduled for
trial.

The Diocese filed for Chapter 11 protection on October 18, 2009
(Bankr. D. Del. Case No. 09-13560).  Attorneys at Young Conaway
Stargatt & Taylor, LLP, serve as counsel to the Diocese.  The
Ramaekers Group, LLC, is the financial advisor.  The petition says
assets range $50,000,001 to $100,000,000 while debts are between
$100,000,001 to $500,000,000. (Catholic Church Bankruptcy News;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


CATHOLIC CHURCH: Wilmington Wins OK to Hire R.M. Fields
-------------------------------------------------------
The Catholic Diocese of Wilmington, Inc., received authority from
the U.S. Bankruptcy Court for the District of Delaware to employ
R.M. Fields LP as its insurance archeologist, nunc pro tunc to
July 21, 2010, pursuant to an engagement letter.

As the Diocese's insurance archeologist, R.M. Fields will
(i) assist the Diocese with the reconstruction of the Diocese's
liability insurance history, and (ii) investigate and recover
evidence relating to certain lost insurance policy information,
documentation, forms, policy terms, policy identification numbers
and skips, and other secondary evidence of insurance.

R.M. Fields will be paid based on its standard hourly rates for
its services to the Diocese.  R.M. Fields' rates range from $150
to $250 per hour, depending on the particular professional.  The
Diocese will also reimburse R.M. Fields for any actual expenses
incurred in connection with the retention.

Henry R. Booth, managing director at R.M. Fields, assures the
Court that R.M. Fields is a "disinterested person" as defined in
Section 101(14) of the Bankruptcy Code.

                   About the Diocese of Wilmington

The Diocese of Wilmington covers Delaware and the Eastern Shore of
Maryland and serves about 230,000 Catholics.  The Delaware diocese
is the seventh Roman Catholic diocese to file for Chapter 11
protection to deal with lawsuits for sexual abuse.  Previous
filings were by the dioceses in Spokane, Washington; Portland,
Oregon; Tucson, Arizona; Davenport, Iowa, Fairbanks, Alaska; and
San Diego, California.

The bankruptcy filing automatically stayed eight consecutive abuse
trials scheduled in Delaware scheduled to begin October 19.  There
are 131 cases filed against the Diocese, with 30 scheduled for
trial.

The Diocese filed for Chapter 11 protection on October 18, 2009
(Bankr. D. Del. Case No. 09-13560).  Attorneys at Young Conaway
Stargatt & Taylor, LLP, serve as counsel to the Diocese.  The
Ramaekers Group, LLC, is the financial advisor.  The petition says
assets range $50,000,001 to $100,000,000 while debts are between
$100,000,001 to $500,000,000. (Catholic Church Bankruptcy News;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


CBGB HOLDINGS: Seeks Court OK of Guitar Hero Trademark Deal
-----------------------------------------------------------
Jacqueline Palank at Dow Jones' Daily Bankruptcy Review reports
that the owner of the CBGB name is asking a bankruptcy court to
sign off on a trademark agreement that will ensure its legendary
stage can appear in the latest version of the Guitar Hero video
game.

According to the report, CBGB Holdings LLC said entering into the
trademark agreement video game developer Activision would
"significantly enhance" the company's ability to make the CBGB
name known around the world and expose the brand "to a new
generation of fans."

Absent court approval, CBGB Holdings said Activision may not
actively promote its role in the latest Guitar Hero, slated for
release on Sept. 28.

"We are an integral part of the game and Activision wants to
prominently include CBGB in their worldwide launch plans, as well
as in subsequent product extensions which can generate royalties
for the debtor; however, without court approval of the agreement
due to the pending motions to dismiss and to vacate the stay,
Activision will downplay the role of the club in the game and
eliminate the debtor's trademark from their marketing plans," CBGB
Holdings said Wednesday in court papers, according to the report.

According to the report, the company is referring to pending
motions by the estate of Hilly Kristal, who founded the punk-rock
music club in 1973 and later negotiated a deal to sell the club's
intellectual property to CBGB Holdings before his death in August
2007.  The estate sought the dismissal of CBGB Holdings'
bankruptcy case, accusing the company -- led by James Blueweiss
and Robert Williams -- of squandering the club's valuable name in
the months after the sale closed.

The Manhattan bankruptcy court is expected to consider the deal at
a Sept. 23 hearing.

CBGB Holdings LLC purchased the name and copyrights associated
with Manhattan's legendary punk-rock club CBGB in 2008.

CBGB Holdings filed for bankruptcy on June 11, 2010 (Bankr.
S.D.N.Y. Case No. 10-13130).  Judge Stuart M. Bernstein presides
over the case.  Kenneth A. Reynolds, Esq., at McBreen & Kopko, in
Jericho, New York, serves as the Debtor's counsel.  The petition
listed $1 million to $10 million in assets and debts.


CELL THERAPEUTICS: Incurs $4.83MM Loss from Operations in July
--------------------------------------------------------------
Cell Therapeutics Inc. provided with the Securities and Exchange
Commission a monthly information at the request of Italian
securities regulatory authority, CONSOB.  A full-text copy of the
regulatory filing is available for free at
http://ResearchArchives.com/t/s?6aa8

Cell Therapeutics reported a net loss from operations of
US$4,831,000 on zero net revenue for the month ended July 31,
2010, compared with a net loss from operations of US$6,623,000 on
$286,000 of net revenue for the month ended June 30, 2010.

                     About Cell Therapeutics

Headquartered in Seattle, Washington, Cell Therapeutics, Inc.
(NASDAQ and MTA: CTIC) -- http://www.CellTherapeutics.com/-- is a
biopharmaceutical company that develops an integrated portfolio of
oncology products aimed at making cancer more treatable.
Subsequent to the closure of its Bresso, Italy operations in
September 2009, CTI's operations are conducted solely in the
United States.

As of June 30, 2010, the Company had $94.578 million in total
assets against total liabilities of $77.707 million, common stock
purchase warrants of $12.255 million and non-controlling interest
of $(308) million, resulting in shareholders' equity of $4.616
million.

                       Going Concern Doubt

San Francisco-based Stonefield Josephson, Inc., has included an
explanatory paragraph in their report on Cell Therapeutics, Inc.'s
December 31, 2009, 2008 and 2007 consolidated financial statements
regarding their substantial doubt as to the Company's ability to
continue as a going concern.  The independent auditors reported
that the Company has sustained loss from operations over the audit
periods, incurred an accumulated deficit, and has substantial
monetary liabilities in excess of monetary assets as of
December 31, 2009.

                        Bankruptcy Warning

In its Form 10-Q report for the period ended June 30, 2010, the
Company said it does not expect that existing cash and cash
equivalents, including the cash received from the issuance of its
Series 6 preferred stock and warrants, will be sufficient to fund
presently anticipated operations beyond the fourth quarter of
2010.

The Company has commenced cost saving initiatives to reduce
operating expenses, including the reduction of employees related
to planned commercial pixantrone operations and continues to seek
additional areas for cost reductions.  However, the Company said
it will need to raise additional funds and is currently exploring
alternative sources of equity or debt financing.  The Company said
it may seek to raise such capital through public or private equity
financings, partnerships, joint ventures, disposition of assets,
debt financings or restructurings, bank borrowings or other
sources of financing.

The Company has called an annual meeting of shareholders that is
scheduled to be held on September 16, 2010, to ask shareholders to
approve proposals, including a proposal to increase authorized
shares of common and preferred stock from 810,000,000 to
1,210,000,000 shares.  If the shareholders do not approve this
proposal, then the Company said it will not be able to issue
shares of common stock or securities convertible for shares of its
common stock, and thus, may not be able to raise additional
capital.

If the shareholders approve this proposal, the Company said its
Board of Directors would have the option to issue such shares
depending on its financial needs and the market opportunities if
deemed to be in the best interest of shareholders.  However,
additional funding may not be available on favorable terms or at
all.  If additional funds are raised by issuing equity securities,
substantial dilution to existing shareholders may result.

"If we fail to obtain additional capital when needed, we may be
required to delay, scale back, or eliminate some or all of our
research and development programs and may be forced to cease
operations, liquidate our assets and possibly seek bankruptcy
protection," the Company said.


CENTAUR LLC: To Auction Valley View Downs on October 20
-------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports Centaur LLC received approval from the bankruptcy court to
hold an auction on Oct. 20 for a planned racetrack 55 miles from
Pittsburgh named Valley View Downs and Casino.  Bids are due
Oct. 4.  No party is yet under contract to be the stalking horse
bidder at the auction.  The sale would be completed as part of the
confirmation of Centaur's Chapter 11 plan.

Mr. Rochelle recounts that Centaur was authorized in August to
sell the Fortune Valley Hotel & Casino 40 miles west of Denver to
Luna Gaming Central City LLC for $7.5 million cash, plus a $2.5
million note.

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.


CENTRAL DELAWARE: Files Schedules of Assets and Liabilities
-----------------------------------------------------------
Central Delaware Materials, LLC, filed with the U.S. Bankruptcy
Court for the District of Delaware its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                $2,250,000
  B. Personal Property               $39,738
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $1,679,122
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                              $300
                                 -----------      -----------
        TOTAL                     $2,289,738       $1,679,422

Smyrna, Delaware-based Central Delaware Materials, LLC, filed for
Chapter 11 bankruptcy protection on June 18, 2010 (Bankr. D. Del.
Case No. 10-11981).  Adam Hiller, Esq., at Pinckney, Harris &
Weidinger, LLC, assists the Company in its restructuring effort.
The Company estimated assets and debts at $1 million to
$100 million in its Chapter 11 petition.


CES ENVIRONMENTAL: Bank of America Wants Conversion to Ch. 7
------------------------------------------------------------
Bank of America, one of CES Environmental Services, Inc.'s
creditors, wants the Chapter 11 case of CES converted to a Chapter
7 liquidation proceeding, Matthew Tresaugue at the Houston
Chronicle reports.

According to the report, CES Environmental filed for Chapter 11
protection seven months after the city of Houston halted
wastewater service to the Company's Griggs Road facility.  A
Harris County judge has directed the city to provide the service
to CES, but the city appealed the decision.  The Company ran afoul
with neighbors and regulators over odors, explosions and on-the-
job deaths at its plants.

Mr. Tresaugue relates the Company has been at odds with regulators
since 2005, when neighbors of the facility began to complain about
sickening odors.  Over the past four years, the city's Bureau of
Air Quality Control has received more than 200 complaints about
the smells wafting from the plant.

                             About CES

CES Environmental Services, Inc., cleans truck trailers, recycles
oil and packages waste for transport and disposal. The company's
customers include refineries and chemical plants along the Ship
Channel.

CES Environmental filed for Chapter 11 protection (Bankr. S.D.
Tex. Case No. 10-36924) in Houston, Texas on Aug. 13, 2010.  Alan
Sanford Gerger, Esq., at Dunn, Neal & Gerger, LLP, in Houston,
Texas, serves as counsel to the Debtor.  The Debtor estimated
assets of up to $50,000 and debts of up to $10 million in its
Chapter 11 petition.


CHARLES COWIN: Files Schedules of Assets and Liabilities
--------------------------------------------------------
Charles Philip Cowin filed with the U.S. Bankruptcy Court for the
Northern District of Illinois its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $33,630,817
  B. Personal Property            $3,712,729
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $11,243,728
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $156,194
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $1,143,555
                                 -----------      -----------
        TOTAL                    $37,343,546      $12,543,477

Houston, Texas-based Charles P. Cowin filed for Chapter 11
bankruptcy protection on February 24, 2010 (Bankr. S.D. Texas Case
No. 10-31478).  Richard L. Fuqua, II, Esq., at Fuqua & Keim,
assists the Debtor in its restructuring effort.  The Company
estimated assets and debts at $10 million to $50 million in its
Chapter 11 petition.


CHINA TRACTOR: Posts $1.2 Million Net Loss in June 30 Quarter
-------------------------------------------------------------
China Tractor Holdings, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $1.2 million for the three months
ended June 30, 2010, compared with net income of $204,221 for the
same period of 2009.

There was no revenue for the three months ended June 30, 2010,
compared with $18,984 of revenue for the comparable period of 2009
due to there being no operating activities in first three months
of 2010.

The Company's balance sheet as of June 30, 2010, showed
$13.4 million in total assets, $4.3 million in total liabilities,
and stockholders' equity of $9.1 million.

Goldman Parks Kurland Mohidin LLP, in Encino Calif., expressed
substantial doubt about the Company's ability to continue as a
going concern, following its 2009 results.  The independent
auditors noted that the Company has incurred a loss of
$3.7 million, including loss from continuing operations of
$488,640.

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

               http://researcharchives.com/t/s?6a9d

                       About China Tractor

ChangChun City, P.R. China-based China Tractor Holding, Inc.
currently does not have any operations.  On March 15, 2010, the
Company signed a stock transfer agreement to transfer all shares
owned by the Company in Chang Tuo Agricultural Machinery Equipment
Group Co., Ltd. to State-owned Assets Supervision and
Administration Commission of Changchun ("SOASACC"), and the
agreement was approved by Changchun government on April 19, 2010.
After the completion of the transaction, the Company will have no
substantial business operations until it enters a new industry
through merger or acquires other operational entities.  Up until
December 1, 2009, the business operation of Chang Tuo was the sole
business of the Company.


CJ CONTRACTORS: General Contractor Can't Pursue Insurers
--------------------------------------------------------
Epic Management, Inc., the general contractor for the Township of
Lakewood on a project to a build a baseball stadium, filed a
declaratory judgment action against the insurers of Epic's
subcontractor, CJ Contractors, Inc., seeking a determination that
CJ's insurers, defendants Harleysville Insurance Company of New
Jersey, Travelers Property Casualty Company of America and
Selective Insurance Company of America are responsible for payment
of a $219,311 judgment Epic recovered against CJ.  That judgment
represents costs Epic incurred in defending against a negligence
action brought by Lakewood to recover damages for the stadium's
leaking roof.  Lakewood's claims in the negligence action were
settled; Epic obtained a release; and CJ's insurers funded the
entire settlement but did not pay the judgment Epic obtained
against CJ.  On CJ's appeal from the judgment in favor of Epic,
the Superior Court of New Jersey, Appellate Division affirmed.
Twp. of Lakewood v. Epic Mgmt., Inc., No. A-2866-07 (App. Div.
July 20, 2009).

Epic commenced a declaratory action against the insurers who are
the defendants after learning that CJ had dissolved and was
insolvent.  On cross-motions for summary judgment, the trial judge
determined that the insurers' policies do not cover Epic's claims.
The judge also rejected Epic's claim that the insurers, by
providing a defense to CJ in the Lakewood action, acquired the
status of real parties-in-interest and the obligation to pay CJ's
judgment.

On August 31, 2010, the Superior Court of New Jersey, Appellate
Division, affirmed.  "Based on our review of the record presented
on appeal, we affirm because defendants are entitled to judgment
as a matter of law," the appellate court said.

According to the appellate court, Selective did not insure CJ or
Epic; there is no evidence that the damage was the result of an
"occurrence" involving covered property damage during the term of
the Travelers' policy; Harleysville's policy does not cover Epic's
attorneys fees and costs; and the insurers are not real parties-
in-interest.

The three-judge panel consists of Judges Dorothea Wefing, Jane
Grall and Laura LeWinn.

The case is Epic Management, Inc., v. Harleysville Insurance
Company of New Jersey, Travelers Property Casualty Company of
America and Selective Insurance Company of America, case no.
A-4759-08T2 (N.J. Super. Ct., App. Div., August 31, 2010), and a
copy of the decision is available at:

     http://www.leagle.com/unsecure/page.htm?shortname=innjco20100831417

Epic is represented in the case by:

          Gerard J. Onorata, Esq.
          PECKAR & ABRAMSON, P.C.
          70 Grand Avenue
          River Edge, NJ 07661
          Tel: (201) 343-3434
          Fax: (201) 343-6306
          E-mail: gonorata@pecklaw.com

Harleysville is represented in the case by:

          Lance J. Kalik, Esq.
          RIKER DANZIG SCHERER HYLAND & PERRETTI, L.L.P.
          One Speedwell Avenue
          Morristown, NJ 07962-1981
          Tel: (973) 451-8447
          Fax: (973) 538-1984
          E-mail: lkalik@riker.com

Travelers is represented in the case by:

          Frank E. Borowsky, Jr., Esq.
          BOROWSKY & BOROWSKY, L.L.C.
          Shrewsbury, NJ
          Tel: (732) 212-9400
          Fax: (732) 212-9445

Selective Insurance is represented in the case by:

          Jennifer L. Reed, Esq.
          HILL WALLACK, L.L.P.
          202 Carnegie Center
          Princeton, NJ 08540
          Tel: (609) 924-0808


COASTAL CRAFTING: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Coastal Crafting Company, Ltd.
        c/o Law Offices of Matthew Hoffman, p.c.
        2777 Allen Parkway, Suite 1000
        Houston, TX 77019

Bankruptcy Case No.: 10-37421

Chapter 11 Petition Date: August 31, 2010

Court: United States Bankruptcy Court
       Southern District of Texas (Houston)

Judge: Jeff Bohm

Debtor's Counsel: Matthew Hoffman, Esq.
                  2777 Allen Parkway, Suite 1000
                  Houston, TX 77019
                  Tel: (713) 654-9990
                  Fax: (713) 654-0038
                  E-mail: mhecf@aol.com

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

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txsb10-37421.pdf

The petition was signed by Emil Moscariello, managing member of
Coastal Crating Management, LLC, Debtor's general partner.


COLONIAL BANCGROUP: Judge Junks FDIC's $905 Million Demand
----------------------------------------------------------
Bankruptcy Law360 reports that Bankruptcy Judge Judge Dwight H.
Williams has rejected the Federal Deposit Insurance Corp.'s claim
that it is owed $905 million from Colonial Bancgroup Inc., the
bankrupt holding company that controlled the failed Colonial Bank.

                    About The Colonial BancGroup

Headquartered in Montgomery, Alabama, The Colonial BancGroup,
Inc., (NYSE: CNB) was holding company to Colonial Bank, N.A, its
banking subsidiary.  Colonial bank -- http://www.colonialbank.com/
-- operated 354 branches in Florida, Alabama, Georgia, Nevada and
Texas with over $26 billion in assets.  On August 14, 2009,
Colonial Bank was seized by regulators and the Federal Deposit
Insurance Corporation was named receiver.  The FDIC sold most of
the assets to Branch Banking and Trust, Winston-Salem, North
Carolina.  BB&T acquired $22 billion in assets and assumed
$20 billion in deposits of the Bank.

The Colonial BancGroup filed for Chapter 11 bankruptcy protection
on August 25, 2009 (Bankr. M.D. Ala. Case No. 09-32303).  W. Clark
Watson, Esq., at Balch & Bingham LLP, and Rufus T. Dorsey IV,
Esq., at Parker Hudson Rainer & Dobbs LLP, assist the Debtor in
its restructuring effort.  In its schedules, the Debtor disclosed
$45 million in total assets and $380 million in total liabilities
as of the Petition Date.


COPPER KING: Reorganization Case Transferred to District of Utah
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Nevada approved the
intra-district transfer of the Chapter 11 case of Copper King
Mining Corporation to the District of Utah (Case No. 10-30002).

Milford, Utah-based Copper King Mining Corporation, aka Western
Utah Copper Company, filed for Chapter 11 bankruptcy protection on
May 18, 2010 (Bankr. D. Nev. Case No. 10-51912).  Bruce Thomas
Beesley, Esq., at Lewis and Roca LLP, assists the Debtor in its
restructuring effort.  The Company estimated assets and debts at
$100 million to $500 million in its Chapter 11 petition.

The Company's affiliate, Western Utah Copper Company, filed a
separate Chapter 11 petition on May 18, 2010 (Bankr. D. Nev. Case
No. 10-51913).  The Company estimated assets at $50 million to
$100 million in assets and $500 million to $1 billion in debts.


COSINE COMMUNICATIONS: Plans to Deregister Common Stock
-------------------------------------------------------
CoSine Communications Inc. said that a special committee
consisting of all its independent directors has recommended, and
its Board of Directors has unanimously approved, a plan to
deregister CoSine's common stock under the Securities Exchange Act
of 1934, as amended, and as a result thereof, terminate its
periodic reporting obligations with the Securities and Exchange
Commission.

CoSine is taking these steps to avoid the substantial and
increasing cost and expense of being an SEC reporting company and
of regulatory compliance under the Sarbanes-Oxley Act of 2002, and
to focus CoSine's resources on the redeployment of its existing
assets to acquire, or invest in, one or more operating businesses
with existing or prospective taxable income, or from which it can
realize capital gains, that can be offset by use of its net
operating loss carry-forwards.

To accomplish this, the Board of Directors is proposing to amend
CoSine's certificate of incorporation to effect a reverse stock
split, which would immediately be followed by a forward stock
split.  The Board of Directors has tentatively determined a
reverse split ratio of 1-for-500 shares and a forward stock split
ratio of 500-for-1.  Assuming these ratios are used and subject to
stockholder approval, registered stockholders owning less than 500
shares of common stock immediately prior to the reverse stock
split will receive a cash payment of $2.24 per share, on a pre-
split basis, in lieu of owning fractional shares and participating
in the forward stock split.

The reverse stock split will be followed immediately by a 500-for-
1 forward stock split.  As a result, beneficial stockholders
holding shares in "street name" through a nominee and registered
stockholders owning 500 or more shares of common stock will not be
impacted by the reverse/forward stock splits and retain their
current numbers of shares of common stock without change.  If,
after completion of the reverse and forward stock splits, CoSine
has fewer than 300 shareholders of record, CoSine intends to
terminate the registration of its common stock under the
Securities Exchange Act of 1934, as amended.  If that occurs,
CoSine will be relieved of its requirements to comply with the
Sarbanes-Oxley Act of 2002 and to file periodic reports with the
SEC, including annual reports on Form 10-K and quarterly reports
on Form 10-Q.  CoSine intends to continue to provide interim
unaudited financial information and annual audited financial
information to its stockholders.

The Board of Directors has reserved the right to change the ratio
of the stock splits or to choose an alternative to the stock
splits to the extent it believes necessary or desirable in order
to accomplish the goal of reducing the number of record holders to
below 300.  The Board of Directors may also abandon the proposed
stock splits at any time prior to the completion of the proposed
transaction if it believes that the proposed transaction is no
longer in the best interests of CoSine or its stockholders.

The special committee retained an independent financial advisor,
Cassel Salpeter & Co., to assist it in determining that the
price of $2.24 per share on a pre-split basis to be received by
registered stockholders owning less than 500 shares of common
stock is fair from a financial point of view.

                    About Cosine Communications

Los Gatos, California-based CoSine Communications, Inc. (Pink
Sheets:COSN.pk) was founded in 1998 as a global telecommunications
equipment supplier.  As of December 31, 2006, CoSine had ceased
all its product and customer service related operations.  CoSine's
strategic plan is to redeploy its existing resources to identify
and acquire, or invest in, one or more operating businesses with
the potential for generating taxable income or capital gains.
This strategy may allow CoSine to realize future cash flow
benefits from its net operating loss carry-forwards.  No
candidates have been identified, and no assurance can be given
that CoSine will find suitable candidates, and if it does, that it
will be able to utilize its existing NOLs.

The Company's balance sheet at June 30, 2010, showed
$22.12 million in total assets, $269,000 in total liabilities, and
$21.85 million total stockholders' equity.

Burr Pilger Mayer Inc. of San Jose, California, which audited the
Company's annual report for 2009, said that that the CoSine
Communications Inc.'s actions in September 2004 in connection with
its ongoing evaluation of strategic alternatives to terminate most
of its employees and discontinue production activities in an
effort to conserve cash, raise substantial doubt about its ability
to continue as a going concern.


CPG INTERNATIONAL: S&P Puts 'B-' Rating on CreditWatch Positive
---------------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings, including
the 'B-' corporate credit rating, on Scranton, Pa.-based building
products manufacturer CPG International Inc. on CreditWatch with
positive implications.

"The CreditWatch listing is based on S&P's expectations for
meaningful improvement in CPG's operating performance and credit
measures primarily reflecting increased end-market demand for its
AZEK building products, stimulated by new products, increased
distribution, and better market penetration," said Standard &
Poor's credit analyst Tobias Crabtree.  In addition, the company,
in S&P's view, has improved its liquidity position following the
extension of the maturity of its term loan (which had
approximately $24 million outstanding as of June 30, 2010) to
April 2012 from February 2011.  Consequently, S&P expects the
company's credit measures and liquidity position to improve to a
level more in line with a higher rating.

In resolving the CreditWatch listing, Standard & Poor's expects to
assess the sustainability of the company's operating performance
and review the company's liquidity position in light of S&P's
expectations for a gradual recovery in housing markets, where CPG
derives approximately two-thirds of its sales.


CRYSTAL SPRINGS: Can Access Lenox Mortgage's Cash Until Sept. 30
----------------------------------------------------------------
The Hon. Randolph J. Haines of the U.S. Bankruptcy Court for the
District of Arizona authorized Crystal Springs Phase I, LLC, and
Crystal Springs Investors, LLC, to use cash collateral until
September 30, 2010.

A continued evidentiary hearing on the Debtors' continued use of
the cash collateral after September 30, will be held at 1:30 p.m.
on September 22.

The Debtors would use the cash collateral to fund the postpetition
operation of its business.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtors will grant Lenox Mortgage XII, LLC, a
replacement lien in the cash collateral that is held in the
Debtors' debtor-in-possession operating accounts, to the same
extent, and with the same validity and priority, as existed prior
to the filing of the Debtors' bankruptcy cases.

                       About Crystal Springs

Phoenix, Arizona-based Crystal Springs Phase I filed for Chapter
11 bankruptcy protection on May 12, 2010 (Bankr. D. Ariz. Case No.
10-14516).  Mark W. Roth, Esq., at Polsinelli Shughart P.C.,
assists the Debtor in its restructuring effort.  The Company
estimated its assets and debts at $10 million to $50 million.


CRYSTAL SPRINGS: Plan Outline Hearing Set for September 16
----------------------------------------------------------
The U.S. Bankruptcy Court for the District of California will
convene a hearing on September 16, 2010, at 11:00 a.m., to
consider adequacy of the Disclosure Statement explaining Crystal
Springs Phase I, LLC and Crystal Springs Investors, LLC's
Plan of Reorganization dated as of August 10.  Objections, if any,
are due seven business days prior to the hearing date.

According to the Disclosure Statement, the Plan will be funded by
(a) cash on hand held by the Debtors as of the Effective Date; (b)
the New Value contributed to the Reorganized Debtors by the
Contributing CSPI Interest Holders and Contributing CSI Interest
Holders; and (c) continued operations of the property.

To the extent that there are insufficient funds raised from
Contributing CSPI Interest Holders and Contributing CSI Interest
Holders to satisfy the necessary New Value contribution, the
Debtors will solicit and raise funds from third parties who will
contribute New Value to the Debtors.  Contributing Third Parties,
if any, will receive the same treatment as Contributing CSPI
Interest Holders and Contributing CSI Interest Holders,
respectively.

Under the Plan, holders of Allowed Unsecured Claims against CSPI
and CSI will be paid in full, in cash, on the Effective Date, or
as the claims are allowed and ordered paid by the Court.

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

                       About Crystal Springs

Phoenix, Arizona-based Crystal Springs Phase I filed for Chapter
11 protection on May 12, 2010 (Bankr. D. Ariz. Case No. 10-14516).
Mark W. Roth, Esq., at Polsinelli Shughart P.C., assists the
Company in its restructuring effort.  The Company estimated assets
and debts at $10 million to $50 million in its Chapter 11
petition.


DCM CONTRACTING: Organizational Meeting to Form Panel on Sept. 15
-----------------------------------------------------------------
Roberta A. DeAngelis, Acting United States Trustee for Region 3,
will hold an organizational meeting on September 15, 2010, at
1:30 p.m. in the bankruptcy case of DCM Contracting, LLC.  The
meeting will be held at the United States Trustee's Office, One
Newark Center, 14th Floor, Room 1401, Newark, NJ 07102.

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

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

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

Madison, New Jersey-based DCM Contracting, LLC, filed for Chapter
11 bankruptcy protection on August 12, 2010 (Bankr. D. N.J. Case
No. 10-34827).  Melinda D. Middlebrooks, Esq., at Middlebrooks
Shapiro & Nachbar, P.C., assists the Debtor in its restructuring
effort.  The Debtor estimated its assets at up to $50,000 and
debts at $1 million to $10 million as of the petition date.


DENNIS GIBBS: Hearing on Case Conversion Set for September 29
-------------------------------------------------------------
The Hon. Randall J. Newsome of the U.S. Bankruptcy Court for the
Northern District of California will convene a hearing on
September 29, 2010, at 9:30 a.m., to consider the motion to
convert the Chapter 11 case of Dennis A. Gibbs and Laurie M. Gibbs
to one under Chapter 7 of the Bankruptcy Code.

Mohammed Poonja, Chapter 11 trustee in the case of the Debtors,
requested for the conversion of the Debtors' case explaining that
the Debtors have no operating business and virtually no income.

Castro Valley, California-based Dennis A. Gibbs and Laurie M.
Gibbs filed for Chapter 11 bankruptcy protection on May 18, 2010
(Bankr. N.D. Calif. Case No. 10-45706).  Vincent Renda, Esq., at
Renda Law Offices, P.C., represents the Debtors in their
restructuring effort.  The Debtors estimated their assets and
debts at $10 million to $50 million.


DIME COMMUNITY: Fitch Affirms 'B/C' Individual Rating
-----------------------------------------------------
Fitch Ratings has affirmed Dime Community Bancshares, Inc.'s long-
and short-term Issuer Default Ratings at 'BBB' and 'F2'
respectively.  The Rating Outlook remains Stable.

Fitch's affirmation of DCOM's ratings reflects strong asset
quality, a sufficient level of capital and loan loss reserves as
well as stable profitability metrics.  The Stable Outlook reflects
the consistency of credit and earnings performance and is also
indicative of management adopting a more conservative approach to
capital management.

Asset quality remains the main strength of the company,
particularly after demonstrating resilience during the current
economic cycle.  As of June 30, 2010, the NPA ratio was just
57bps, and annualized charge-offs for the six months ended
June 30, 2010, were 34bps of average loans.  DCOM's concentration
in the New York City multi-family real estate market is mitigated
by low LTVs, generally around 60%, and the rent-controlled nature
of many of the properties backing the loans.  Over the coming
year, Fitch expects asset quality to remain relatively strong as
the NYC real estate market starts to show signs of recovery.  The
management team's familiarity and experience with DCOM's current
market is seen as one of the key positive drivers for asset
quality.  Although not expected, any significant changes in the
mix of business, either by product type or geography, would be
carefully considered by Fitch to determine any potential ratings
impact.

While profitability metrics have improved notably over the past
year, Fitch does not view this as a sustainable long-term trend.
Like many of its peers, DCOM has benefited from a steep yield
curve and easing of competitive pressures related to deposit
pricing and conduits leaving the NYC real estate lending market.
Both of these factors are likely to reverse as the banking
industry continues to recover and the Federal Reserve begins to
tighten interest rate policy.  Although DCOM's tangible equity is
modestly lower than similarly rated peers (6.46% at June 30,
2010), Fitch believes DCOM's regulatory capital levels are
sufficient in the context of good reserve coverage and modest NCO
levels.  Management's decision to curtail stock repurchase
activity and adopt a controlled growth strategy is viewed
positively by Fitch.

Although Fitch regards DCOM's liquidity management as adequate,
the holding company would benefit from a more formalized liquidity
management policy.  Moreover, the looming regulatory changes
emerging from the Dodd-Frank Act are likely to have a meaningful
impact on DCOM's regulatory regime and capital requirements.  As a
thrift holding company, DCOM was not subjected to specific
regulatory capital requirements at the holding company level.
However, with the elimination of the Office of Thrift Supervision
under the Dodd-Frank Act, Fitch expects that DCOM will become
subject to stricter regulatory capital requirements.  The
specifics of these requirements have not yet been detailed by the
Federal Reserve, however, Fitch's ratings incorporate DCOM's
ability to meet any new regulatory capital standards.  Although
not an immediate issue, Fitch will evaluate how management
responds to these changes in terms of its growth and capital
strategies.

Factors that could have positive rating implications on DCOM's
ratings and/or Outlook include:

  -- Stronger regulatory and tangible (Fitch Core Capital) capital
     ratios;

  -- Ability to sustain a consistent level of profitability,
     particularly in a higher interest rate environment;

  -- Institution of a more formalized liquidity management policy,
     which, in Fitch's opinion, will provide for more robust
     liquidity at the holding company.

Factors that could have negative implications on the ratings
and/or Outlook include:

  -- Deterioration in credit metrics that deviates materially from
     DCOM's historical norms;

  -- Inability to sustain or improve current levels of regulatory
     and tangible capital;

  -- Changes to the NYC rent stabilization laws that could
     negatively impact vacancy rates and introduce more volatility
     into cash flows and property valuations.

With $4.1 billion in assets, DCOM is a Brooklyn, NY based thrift
holding company whose sole subsidiary is Dime Savings Bank of
Williamsburgh, operates 24 branches in the New York City
metropolitan area.

Fitch has affirmed these ratings with a Stable Outlook:

Dime Community Bancshares, Inc.

  -- Long-term Issuer Default Rating at 'BBB';
  -- Short-term IDR at 'F2';
  -- Individual rating at 'B/C';
  -- Support at '5';
  -- Support Floor at 'NF'.

Dime Savings Bank of Williamsburgh

  -- Long-term IDR at 'BBB';
  -- Long-term Deposits at 'BBB+';
  -- Short-Term IDR at 'F2';
  -- Short-Term Deposits at 'F2';
  -- Individual Rating at 'B/C';
  -- Support at '5';
  -- Support Floor at 'NF';

Dime Community Capital Trust I

  -- Preferred stock at 'BB+'


DOLLAR THRIFTY: Avis Raises Offer to $1.35 Billion
--------------------------------------------------
The Wall Street Journal's Gina Chon reports that Avis Budget Group
Inc. on Thursday increased the cash portion of its offer for
Dollar Thrifty Automotive Group Inc. to $40.75 a share, as Avis
battles Hertz Global Holdings Inc. for Dollar Thrifty.

The Journal says the move brings Avis' cash-and-stock offer for
Dollar Thrifty to about $1.35 billion, compared with Hertz's cash-
and-stock proposal of about $1.1 billion.  But Avis continued to
decline to offer a reverse breakup fee, which was a condition
requested by Dollar Thrifty in a letter early last month.

The Journal relates Dollar Chief Executive Scott Thompson asked
Avis CEO Ronald Nelson for additional terms that would bolster the
likelihood of the deal's closure.  According to the Journal, Mr.
Thompson said that Avis' advisers have been unwilling to disclose
data that would show its bid would pass regulatory clearance.  He
also said Avis' unwillingness to provide a significant fee, which
would be paid to Dollar in the event of a scuttled deal, shows it
isn't willing to share the risk of the regulatory process.

The Journal further reports that Dollar did say that Avis' offer
is more favorable from a financial point of view and that its bid
is supported by financing.  According to the Journal, people
familiar with the matter said Avis believes its higher price is
the main reason Dollar Thrifty should choose its offer and a
reverse breakup fee is unnecessary.

The Journal notes analysts have said that a combination of Dollar
with either Hertz or Avis would carry similar antitrust risk.
Hertz and Avis are the second- and third-largest car-rental
companies by fleet size in the U.S., respectively, after
Enterprise Rent-A-Car.

"Contrary to certain Dollar Thrifty and Hertz statements, a
reverse termination fee has nothing to do with certainty of
closing," Avis said in a written statement. "Hertz resorts to
antitrust as a scare tactic and a smoke screen-a last-ditch effort
to deflect attention from its clearly inferior offer."

Hertz is willing to pay about $50 million if its agreement with
Dollar falters.  Hertz's merger agreement with Dollar includes
unlimited matching rights, or the ability for Hertz to match any
competing bid on a recurring basis.  The deal also says Hertz is
willing to sell assets with $175 million in revenue as well as
divest its deep-discount Advantage Rent A Car brand.

"This is a fair warning to investors that they have significant
and real antitrust risk," Hertz spokesman Richard Broome said of
Avis' refusal to pay a reverse breakup fee.

According to the Journal Avis said it was increasing its
commitment to secure antitrust approvals by making more
divestitures than what Hertz has suggested it would do.  Avis said
it would divest itself of businesses with $325 million in revenue.

Dollar shareholders will vote on the proposed Hertz deal on
Sept. 16.  Hertz and Dollar agreed to a transaction in April,
after which Avis said it would make a higher offer for Dollar.

                       About Dollar Thrifty

Dollar Thrifty Automotive Group, Inc., is headquartered in Tulsa,
Oklahoma.  Driven by the mission "Value Every Time," the Company's
brands, Dollar Rent A Car and Thrifty Car Rental, serve value-
conscious travelers in over 70 countries.  Dollar and Thrifty have
over 600 corporate and franchised locations in the United States
and Canada, operating in virtually all of the top U.S. and
Canadian airport markets.  The Company's approximately 6,400
employees are located mainly in North America, but global service
capabilities exist through an expanding international franchise
network.

The Company's balance sheet at June 30, 2010, showed $2.5 billion
in total assets and $2.0 billion in total liabilities, for
$467.8 million in total stockholders' equity.

                           *     *     *

As reported by the Troubled Company Reporter on August 2, 2010,
Standard & Poor's Ratings Services said its ratings on Dollar
Thrifty (DTAG; B-/Watch Pos/--) remain on CreditWatch with
positive implications.  This follows Avis' (B+/Stable/--) July 28,
2010 bid to acquire DTAG.  S&P initially placed the ratings on
DTAG on CreditWatch with positive implications on April 26, 2010,
when the company announced that it had signed a definitive
agreement to be acquired by another competitor, Hertz Global
Holdings Inc. (B/Watch Pos/--).

S&P said the acquisition would result in an increase in market
share for either Avis Budget or Hertz in the U.S.  There currently
are three major on-airport car rental companies: Hertz, Avis
(parent of the Avis and Budget brands), and Enterprise Rent-A-Car
Co. (parent of the Enterprise, Alamo, and National brands), each
with about a 30% market share.  DTAG accounts for most of the
balance.

As reported by the TCR on August 10, 2010, Dominion Bond Rating
Service commented that Dollar Thrifty's ratings, including its
Issuer Rating of B (high) are unaffected following the Company's
announcement of second quarter 2010 earnings results.  All ratings
remain Under Review Positive, where they were placed on April 28,
2010.

DBRS acknowledged DTAG's continued progress in refinancing
maturing debt and improved access to the capital markets.  During
the quarter, DTAG established two new funding facilities totaling
$500 million and repaid $200 million of maturing notes.  DTAG's
next medium term note maturity is $600 million, which will begin
to amortize in December 2010.  Given the Company's solid liquidity
and improved access to the capital markets, DBRS sees these
maturities as manageable.

In November 2009, S&P raised its corporate credit rating of Dollar
Thrifty to 'B-' from 'CCC', in light of the Company's improved
operating and financial performance that began in mid-2009.
Moody's Investors Service also upgraded Dollar Thrifty's
Probability of Default Rating to 'B3' from 'Caa2' and Corporate
Family Rating to 'B3' from 'Caa3'.


EAST BEACHES: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: East Beaches Hospitality, LLC
        13733 Beach Blvd.
        Jacksonville, FL 32225

Bankruptcy Case No.: 10-21051

Chapter 11 Petition Date: August 31, 2010

Court: United States Bankruptcy Court
       Middle District of Florida (Tampa)

Debtor's Counsel: Buddy D. Ford, Esq.
                  BUDDY D. FORD, P.A.
                  115 N. MacDill Avenue
                  Tampa, FL 33609-1521
                  Tel: (813) 877-4669
                  Fax: (813) 877-5543
                  E-mail: Buddy@tampaesq.com

Estimated Assets: $0 to $50,000

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

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

The petition was signed by Kirit Patidar, manager.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Beaches Hospitality, LLC


EAST CAMERON: Cedar Gas Wants Case Converted to Ch. 7 Liquidation
-----------------------------------------------------------------
Cedar Gas Company, a party-in-interest in the Chapter 11 case of
East Cameron Partners, LP, asks the U.S. Bankruptcy Court for the
Western District of Louisiana to convert the Debtor's case to one
under Chapter 7 of the Bankruptcy Code.

Cedar Gas explains that there exists no benefit to the proposed
liquidating plan.  There are no assets to administer other than
various alleged claims which were not worth pursuing during the
bankruptcy case.  A Chapter 7 Trustee is more qualified to make
the small disbursements which might be available in this case.

Cedar Gas adds that there is no cost reduction to the proposed
Chapter 11 Liquidating Trust.

                    About East Cameron Partners

Based in Lafayette, Louisiana, East Cameron Partners, LP --
http://www.eastcameronpartners.com/-- is an independent oil and
gas exploration and production company.  The Company filed for
Chapter 11 relief on Oct. 16, 2008 (Bankr. W.D. La. Case No.
08-51207).  Benjamin W. Kadden, Esq., Christopher T. Caplinger,
Esq., and Stewart F. Peck, Esq., at Lugenbuhl, Wheaton, Peck,
Rankin & Hubbard, serve as counsel to the Debtor.  Michael H.
Piper, Esq., and William E. Steffes, Esq., at Steffes, Vingiello &
McKenzie, L.L.C., represent the Official Committee of Unsecured
Creditors.  The Debtor estimated more than $100 million each in
assets and debts in its Chapter 11 petition.


EAST CAMERON: U.S. Trustee Amends Creditors Committee
-----------------------------------------------------
R. Michael Bolen, the U.S. Trustee for Region 5, notified the U.S.
Bankruptcy Court for the Western District of Louisiana that he
amended the membership of the unsecured creditors' committee to
reflect that Greg Jackson of Seahawk Drilling, Inc. is substituted
for Teodoro Alban of Seahawk Drilling, Inc., who is no longer
employed by Seahawk Drilling.

The Committee now consists of:

1. Halliburton Energy Services, Inc.
   Attn: Donald Giallanza
   10200 Bellaire Blvd., 2SE-26A
   Houston, TX 77072-5299
   Tel: (281) 988-2186

2. Abdon Callais Offshore, L.L.C.
   Attn: Bill Foret
   1300 North Alex Plaisance Blvd.
   P.O. Box 727
   Golden Meadow, LA 70357
   Tel: (800) 632-3411

3. Seahawk Drilling, Inc. fka Pride Offshore, Inc.
   Attn: Greg Jackson
   5 Greenway Plaza, Suite 2700
   Houston, TX 77046
   Tel: (713) 369-7477

4. Candy Fleet Corporation
   Attn: Kenneth I. Nelkin
   P.O. Box 2444
   Morgan City, LA 70381
   Tel: (985) 384-5835
   Fax: (985) 384-2721

5. Energy Cranes, LLC
   Attn: William R. Williams
   6707 Northwinds Drive
   Houston, TX 77041
   Tel: (713) 896-0002
   Fax: (713) 896-5105

                    About East Cameron Partners

Based in Lafayette, Louisiana, East Cameron Partners, LP --
http://www.eastcameronpartners.com/-- is an independent oil and
gas exploration and production company.  The Company filed for
Chapter 11 relief on Oct. 16, 2008 (Bankr. W.D. La. Case No.
08-51207).  Benjamin W. Kadden, Esq., Christopher T. Caplinger,
Esq., and Stewart F. Peck, Esq., at Lugenbuhl, Wheaton, Peck,
Rankin & Hubbard, represent the Debtor as counsel.  Michael H.
Piper, Esq., and William E. Steffes, Esq., at Steffes, Vingiello &
McKenzie, L.L.C., represent the Official Committee of Unsecured
Creditors.  The Debtor estimated assets and debts both in excess
of $100 million in its Chapter 11 petition.


EAST CAMERON: Plan Confirmation Hearing Set for September 21
------------------------------------------------------------
The Hon. Robert Summerhays will convene a hearing on September 21,
2010, at 11:00 a.m., to consider the confirmation of East Cameron
Partners, LP's Amended Plan of Reorganization.

September 14, is fixed as the last date for filing written
acceptances or rejections of the Plan; and for filing any
objections to the Plan.

As reported in the Troubled Company Reporter on June 10,  the Plan
provides for the creation of a liquidation trust which will
receive $650,000 to satisfy remaining  paid and unpaid
administrative claims, to make distributions and pay certain of
the fees and expenses of the liquidating trustee and prosecuting
causes of action that are vested in the liquidating trust.

The Plan also provides for these terms:

   -- Holders of allowed secured claims will receive (i) legal,
      equitable, and contractual rights of each holder of a
      secured claim will be reinstated, or (ii) each holder of a
      secured claim will receive treatment so as to render
      unimpaired the secured claim.

   -- Each holder of a general unsecured claim that is not
      subordinated unsecured claims receive its pro rata share of
      distributions to be made from the liquidating trust.

   -- Subordinated unsecured claims will not receive o
      retain any property on account of the claims.  All
      subordinated unsecured claims will be discharged as of the
      effective date.

   -- Existing equity interests will be cancelled.

A full-text copy of the Amended Plan is available for free at:

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

                    About East Cameron Partners

Based in Lafayette, Louisiana, East Cameron Partners, LP --
http://www.eastcameronpartners.com/-- is an independent oil and
gas exploration and production company.  The Company filed for
Chapter 11 relief on Oct. 16, 2008 (Bankr. W.D. La. Case No.
08-51207).  Benjamin W. Kadden, Esq., Christopher T. Caplinger,
Esq., and Stewart F. Peck, Esq., at Lugenbuhl, Wheaton, Peck,
Rankin & Hubbard, represent the Debtor as counsel.  Michael H.
Piper, Esq., and William E. Steffes, Esq., at Steffes, Vingiello &
McKenzie, L.L.C., represent the Official Committee of Unsecured
Creditors.  The Debtor estimated assets and debts both in excess
of $100 million in its Chapter 11 petition.


EUGENE HOBBS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: Eugene Hobbs
               Mary Ellen Hobbs
               28436 Lomo Drive
               Rancho Palos Verdes, CA 90275

Bankruptcy Case No.: 10-47381

Chapter 11 Petition Date: September 1, 2010

Court: U.S. Bankruptcy Court
       Central District of California (Los Angeles)

Judge: Vincent P. Zurzolo

Debtors' Counsel: Michael Jay Berger, Esq.
                  9454 Wilshire Boulevard, 6th Floor
                  Beverly Hills, CA 90212-2929
                  Tel: (310) 271-6223
                  Fax: (310) 271-9805
                  E-mail: michael.berger@bankruptcypower.com

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

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

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-47381.pdf


EXCELLENCY INVESTMENT: Incurs $664,000 Net Loss in June 30 Quarter
------------------------------------------------------------------
Excellency Investment Realty Trust, Inc., filed its quarterly
report on Form 10-Q/A, reporting a net loss of $664,048 on
$438,705 of revenue for the three months ended June 30, 2010,
compared to a net loss of $526,478 on $463,177 of revenue for the
same period of 2009.

Interest expense was $141,985 for the three months ended June 30,
2010, as compared to $145,075 for the same period in 2009.  The
reason for the decrease was primarily related to principal
reductions.

In the three-month period ended June 30, 2010, the Company had a
loss on registration rights penalty of $540,000, resulting from
its failure to satisfy certain registration requirements.  For the
same period in 2009, the loss was $540,000.

The Company's balance sheet at June 30, 2010, showed
$4.2 million in total assets, $22.2 million in total liabilities,
and a stockholders' deficit of $18.0 million.

As reported in the Troubled Company Reporter on April 21, 2010,
M&K CPAs, PLLC, in Houston, expressed substantial doubt about the
Company's ability to continue as a going concern, following its
2009 results.  The independent auditors noted that the Company
suffered a net loss from operations and has a net capital
deficiency.

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

               http://researcharchives.com/t/s?6a9b

Headquartered in New York, Excellency Investment Realty Trust,
Inc. is engaged in the business of acquiring, developing, holding
for investment, operating and selling apartment properties in
metropolitan areas on the east coast of the United States.  The
Company intends to qualify as a real estate investment trust, or
REIT, under the Internal Revenue Code of 1986, as amended.

Through its subsidiaries, the Company owns eight residential real
estate properties, consisting of an aggregate of 273 apartment
units, and comprising a total of approximately 221,839 square
feet, all of which are leased to residential tenants.  Each of the
properties is located in the metropolitan Hartford area of
Connecticut.


FABRICATED PLASTICS: Organizational Meeting Set for Sept. 14
------------------------------------------------------------
Roberta A. DeAngelis, Acting United States Trustee for Region 3,
will hold an organizational meeting on September 14, 2010, at
10:00 a.m. in the bankruptcy case of Fabricated Plastics.  The
meeting will be held at the United States Trustee's Office, One
Newark Center, 21st Floor, Room 2106, Newark, NJ 07102.

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

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

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

Fabricated Plastics, Inc., dba FPI Thermoplastic Technologies/FPI
Topcraft/Cosmepak, filed for Chapter 11 protection on August 24,
2010 (Bankr. D. N.J. Case No. 10-36106).


FAIRPOINT COMMS: Proposes Consulting Agreement With Hauser
----------------------------------------------------------
FairPoint Communications, Inc., and its debtor affiliates sought
and obtained permission from the Court to enter into:

  (i) a consulting agreement with David L. Hauser, whereby Mr.
      Hauser agrees to resign as chief executive officer and
      assume the role of an independent consultant to the
      Debtors; and

(ii) an employment agreement with Paul H. Sunu, whereby Mr.
      Sunu agrees to serve as chief executive officer and
      director of the Debtors.

The Debtors' request was precipitated when a steering committee
of their secured lenders -- who stand to receive most of the
equity in the reorganized FairPoint -- indicated its desire to
see Mr. Hauser resign and have a new chief executive officer
appointed.

To avoid unnecessary conflict with the post-emergence owners of
FairPoint and to facilitate a transition to a chief executive
officer of the Steering Committee's choosing, Mr. Hauser
indicated his willingness to transition control of the day-to-day
operations of FairPoint to a new chief executive officer, subject
to execution of the Hauser Consulting Agreement and the Sunu
Employment Agreement, according to the Debtors' counsel, Luc A.
Despins, Esq., at Paul Hastings Janofsky & Walker LLP, in New
York.

Mr. Hauser consented to resign from his position as Chairman and
Chief Executive Officer of FairPoint in order to become a
consultant to the Company through the earlier of March 31, 2011,
or the occurrence of the effective date of the Debtors' Chapter
11 plan.

Concurrent with Mr. Hauser's assumption of a consultant's role,
FairPoint would employ Mr. Sunu -- who was previously designated
by the Steering Committee to serve on the new Board of
reorganized FairPoint -- as FairPoint's new Chief Executive
Officer and appoint him to the current Board.

                  Hauser Consulting Agreement

The material terms of the Consulting Agreement among the Debtors,
the Steering Committee and Mr. Hauser are:

   (A) Consulting Period.  From the Release Effective Date until
       the earlier of (i) March 31, 2011, or (ii) the effective
       date of the Plan, Mr. Hauser will render assistance to
       the Debtors as a consultant as requested by the Debtors'
       new CEO in all matters involved in or relating to the
       business of the Debtors.

   (B) Compensation.

       -- As consultant to the Debtors, Mr. Hauser will receive
          consulting fees totaling $3,450,000, which will be
          paid in monthly installments of $300,000 until, and
          the remaining balance to be paid upon, the later of
          (i) March 31, 2011, or (ii) the effective date of the
          Plan; and

       -- On the Effective Date, Mr. Hauser will receive 133,588
          unrestricted shares in reorganized FairPoint pursuant
          to the LTIP.

   (C) Benefits.  Mr. Hauser will continue to receive medical
       benefits for 90 days past the Release Effective Date, or
       a lesser period as permitted by the Debtors' existing
       benefits plan, and thereafter an additional amount in
       cash representing Mr. Hauser's cost of COBRA medical
       insurance, group life insurance, and long-term disability
       insurance coverage for a two-year period.

   (D) Expense Reimbursement.  Mr. Hauser will be reimbursed, in
       an amount not to exceed $30,000, for his professional
       fees and expenses incurred in the negotiation and
       preparation of the Consulting Agreement.

Mr. Despins notes that the compensation provided under the
Consulting Agreement is in lieu of any consideration Mr. Hauser
would have received under the Plan if his employment agreement is
assumed as originally contemplated.

                      Sunu Employment Agreement

The salient terms of the Employment Agreement among the Debtors,
the Steering Committee and Mr. Sunu are:

   (A) Compensation.  As FairPoint's new CEO, Mr. Sunu will be
       entitled to:

       -- a $500,000 signing bonus payable when employment
          commences;

       -- a salary of $750,000 per year;

       -- an annual bonus, beginning with fiscal year 2011, of
          up to 150% of annual salary, pursuant to the Debtors'
          Annual Incentive Plan.

       -- relocation expenses, on a reimbursement basis, with a
          tax gross-up for resulting income taxes, provided that
          in no event will the aggregate amount of any
          reimbursed income tax liability exceed $100,000.

       -- awards under the LTIP, consisting of 240,000
          restricted shares and stock options to buy 250,000
          shares at a price that is not below fair market value
          on the grant date, which will be entitled on the Plan
          effective date.

   (B) Success Bonus Plan.  Mr. Sunu will be entitled to a
       success bonus equal to 50% of his annual base salary if
       the Company achieves target levels of performance under
       its 2010 Success Bonus Plan.

   (D) Severance Pay.  If Mr. Sunu is terminated for cause or
       resigns without good reason, he will receive earned pay
       and vested benefits.   If employment is terminated due to
       death or disability, Mr. Sunu will receive Accrued
       Obligations, plus any earned but unpaid annual bonus,
       plus one year of salary, an annual bonus equal to his
       past year's bonus, and continued medical coverage.  If
       Mr. Sunu is terminated without cause, resigns for good
       reason or the Employment Agreement expires without
       renewal, he will receive the "Accrued Obligations," plus
       any earned but unpaid annual bonus, plus two years of
       salary, an annual bonus equal to two times his past
       year's bonus, and continued medical coverage.  A general
       release of claims is required to collect more than the
       Accrued Obligations.

       Accrued Obligations refer to all accrued but unpaid base
       salary through date of termination; any unpaid expenses;
       and any benefits provided under the Company's employee
       benefit plans.

Full-text copies of the Agreements are available for free at:

  http://bankrupt.com/misc/FairPt_HauserConsultingPact.pdf
  http://bankrupt.com/misc/FairPt_SunuEmpPact.pdf

                  Bankruptcy Oversight Committee

Given the circumstances surrounding the resignation of Mr. Hauser
and the appointment of Mr. Sunu, the Debtors also sought and
obtained permission from the Court to appoint a new subcommittee
of the Board -- the Bankruptcy Oversight Committee.

Upon the effectiveness of Mr. Hauser's resignation, the
Bankruptcy Oversight Committee will:

  (i) monitor and coordinate the Debtors' Chapter 11 cases under
      the general supervision of the Board, including with
      respect to monitoring and coordinating (A) the conduct and
      prosecution of these Chapter 11 cases; and (B) the
      confirmation of a plan of reorganization; and

(ii) report to the Board with respect to those actions to be
      taken by the Board as appropriate.

The Board member who serves on the Bankruptcy Oversight Committee
will be compensated for serving on that committee and, if and to
the extent any material modifications to FairPoint's Plan are
required, that compensation will be increased.  The maximum
compensation to be received by the director serving in the
Oversight Committee would be $350,000.

The Oversight Committee will not be needed upon the effective
date of a plan of  reorganization, and would be automatically
dissolved on the occurrence of that event.

Before the Court entered its ruling on the CEO Motion, the
Debtors sought an expedited hearing on the matter.  In a
declaration to the Court, Mr. Despins explained that the CEO
appointment needed to be finalized in time for the August 25,
2010 leadership meeting in Maine, where the CEO was to meet all
of FairPoint's senior executives to work on key initiatives.

Judge Lifland ruled on the CEO Motion on August 24, 2010.

FairPoint Director J. Bonnie Newman said in a public statement:
"As we begin to plan for emergence from Chapter 11, Paul's
extensive telecommunications experience will be a great benefit
to FairPoint.  David has done an excellent job over the past year
guiding the Company through the restructuring process.  Now
Paul's telecommunications skill set will drive excellence in
performance and profitability as we emerge from Chapter 11"

"Building on the positive momentum over the past several months,
the Company looks forward to better serving its customers and
providing increased services and new products throughout its
markets," Mr. Newman added.

           FairPoint Names J. Newman as Board Chair,
            R. Lilien as Oversight Committee Chair

FairPoint disclosed in an August 25, 2010 regulatory filing with
the U.S. Securities and Exchange Commission that its Board has
appointed Jane E. Newman to serve as the Board's chairperson and
Robert S. Lilien to serve as the chairperson of the Bankruptcy
Oversight Committee of the Board.

Ms. Newman and Mr. Lilien are existing members of the Board.

In related developments, Mr. Sunu reported to the SEC on Aug. 26
that he is not deemed to beneficially own any securities of
FairPoint.

Similarly, Mr. Hauser reported on August 26 that he does not own
any securities of FairPoint.

                 About FairPoint Communications

FairPoint Communications, Inc. (NYSE: FRP) --
http://www.fairpoint.com/-- is an industry-leading provider of
communications services to communities across the country.
FairPoint owns and operates local exchange companies in 18 states
offering advanced communications with a personal touch, including
local and long distance voice, data, Internet, television and
broadband services.  FairPoint is traded on the New York Stock
Exchange under the symbols FRP and FRP.BC.

FairPoint and its affiliates filed for Chapter 11 protection on
Oct. 26, 2009 (Bankr. D. Del. Case No. 09-16335).  Rothschild Inc.
is acting as financial advisor for the Company; AlixPartners, LLP
as the restructuring advisor; and Paul, Hastings, Janofsky &
Walker LLP is the Company's counsel.  BMC Group is claims and
notice agent.

As of June 30, 2009, FairPoint reported $3.24 billion in total
assets, $321.41 million in total current liabilities,
$2.91 billion in total long-term liabilities, and stockholders'
equity of $1.23 million.

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


FAIRPOINT COMMS: Proposes Plan Filing Exclusivity Until Oct. 22
---------------------------------------------------------------
FairPoint Communications, Inc., and its debtor affiliates ask
Judge Burton R. Lifland of the U.S. Bankruptcy Court for the
Southern District of New York to extend their exclusive periods
to:

  (i) file a Chapter 11 plan through October 22, 2010; and

(ii) solicit acceptances to that plan through December 20,
      2010.

James T. Grogan, Esq., at Paul Hastings Janofsky & Walker LLP, in
New York, reminds the Court that the continued hearing on the
Phase II Confirmation Issues has not occurred as initially
anticipated because of the Debtors' failure to get approval of a
regulatory settlement from the Vermont Public Service Board.  The
current version of the Debtors' Chapter 11 plan embodies
settlements the Debtors reached with regulatory agencies in
Maine, New Hampshire, and Vermont.  The Debtors need final
approval of the settlements from the three state regulators as a
prerequisite for the confirmation of their bankruptcy plan.
While Maine and New Hampshire have entered approval orders,
Vermont rejected the Debtors' Plan.  The Vermont Board
specifically held that the Debtors failed to demonstrate
sufficient financial capability to meet their obligations under
Vermont law as licensed telecommunications carriers.

Against this backdrop, the requested exclusivity extension will
preserve the Debtors' ability to confirm the Modified Second
Amended Joint Plan of Reorganization or, if necessary, file a new
Chapter 11 plan to ensure a successful reorganization, Mr. Grogan
says.

The Debtors have demonstrated good faith progress towards their
restructuring process, Mr. Grogan maintains.  Among other things,
he points out, the Debtors have demonstrated their continuing
commitment toward an expeditious restructuring by devoting their
energies and resources to confirmation of their Plan through
negotiations with the Lender Steering Committee; the
International Brotherhood of Electrical Workers and the
Communications Workers of America; the New Hampshire Public
Utility Commission's Staff Advocates; the Vermont Department of
Public Service, a representative appointed by the Maine Public
Utilities Commission; the Maine Office of the Public Advocate;
and certain holders of the Debtors' unsecured senior notes.

The conduct of the Phase I Confirmation Hearing and the entry of
the Phase I Confirmation Order is a reflection that the Debtors
have made material progress in their Chapter 11 cases since the
Petition Date, Mr. Grogan emphasizes.

Mr. Grogan further asserts that the Debtors' Chapter 11 cases are
sufficiently large and complex to warrant the proposed extension
of exclusivity.  The complexity of these Chapter 11 cases has
been compounded by state and federal regulatory regimes that
apply to common communications carriers, he insists.

The Debtors clarify that they are not seeking the exclusivity
extension to delay the reorganization for some speculative event
or to pressure creditors to accede to a plan that is
unsatisfactory to them.

The Debtors add that they have timely met, and will continue to
timely meet, their postpetition obligations as those obligations
become due.

The most recent Court-approved Exclusive Plan Filing Deadline for
the Debtors was August 23, 2010.

The Debtors filed their further exclusivity extension request
with the Court on August 20.  By virtue of the November 2009
Final Case Management Procedures Order entered in the Debtors'
cases, the Debtors' Exclusive Plan Filing Period is automatically
extended until the Court enters an order addressing the
applicable extension motion.

The Court is set to convene a hearing to consider the Debtors'
request on September 29, 2010.  Objections are due no later than
September 22.

                  About FairPoint Communications

FairPoint Communications, Inc. (NYSE: FRP) --
http://www.fairpoint.com/-- is an industry-leading provider of
communications services to communities across the country.
FairPoint owns and operates local exchange companies in 18 states
offering advanced communications with a personal touch, including
local and long distance voice, data, Internet, television and
broadband services.  FairPoint is traded on the New York Stock
Exchange under the symbols FRP and FRP.BC.

FairPoint and its affiliates filed for Chapter 11 protection on
Oct. 26, 2009 (Bankr. D. Del. Case No. 09-16335).  Rothschild Inc.
is acting as financial advisor for the Company; AlixPartners, LLP
as the restructuring advisor; and Paul, Hastings, Janofsky &
Walker LLP is the Company's counsel.  BMC Group is claims and
notice agent.

As of June 30, 2009, FairPoint reported $3.24 billion in total
assets, $321.41 million in total current liabilities,
$2.91 billion in total long-term liabilities, and $1.23 million in
total stockholders' equity.

(FairPoint Bankruptcy News; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


FAIRPOINT COMMS: Removal Period Extended Until October 25
---------------------------------------------------------
FairPoint Communications Inc. and its debtor affiliates received
an order from the Bankruptcy Court extending the time within
which they may file notices of removal of prepetition causes of
action through and including October 25, 2010, pursuant to Rules
9027(a)(2)(A) and 9006(b) of the Federal Rules of Bankruptcy
Procedures.

The Prepetition Causes of Action refer to non-bankruptcy actions
filed in various venues throughout the United States.

James T. Grogan, Esq., at Paul Hastings Janofsky & Walker LLP, in
New York, reports that since the entry of the Second Removal
Extension Order in June 2010, the Debtors spent considerable time
and attention in administering their Chapter 11 cases.  They
expended time and effort in pursuing confirmation of their Plan
of Reorganization.  Those efforts culminated in the commencement
of the Phase I Confirmation Hearing and the entry of the Phase I
Order.  The Court, however, has not yet entered a final
confirmation order on the Plan.  The Debtors are also actively
reviewing, and where appropriate, filing objections and motions
to estimate more than 8,000 proofs of claim that have been filed
in their cases.

As a result of these activities, the Debtors have not had an
opportunity to fully examine the Prepetition Actions to determine
the feasibility or benefit of removing each Action.

"The ability to remove pending litigation is a valuable right
that FairPoint does not want to lose inadvertently," Mr. Grogan
says.  The Debtors aver that in connection with deciding whether
to remove any Action, they must conduct a comprehensive analysis
of the pending Actions.  However, they do not believe that they
will be able to make an informed decision as to whether to file
notices of removal in each Action by the current Action Removal
Deadline.

                 About FairPoint Communications

FairPoint Communications, Inc. (NYSE: FRP) --
http://www.fairpoint.com/-- is an industry-leading provider of
communications services to communities across the country.
FairPoint owns and operates local exchange companies in 18 states
offering advanced communications with a personal touch, including
local and long distance voice, data, Internet, television and
broadband services.  FairPoint is traded on the New York Stock
Exchange under the symbols FRP and FRP.BC.

FairPoint and its affiliates filed for Chapter 11 protection on
Oct. 26, 2009 (Bankr. D. Del. Case No. 09-16335).  Rothschild Inc.
is acting as financial advisor for the Company; AlixPartners, LLP
as the restructuring advisor; and Paul, Hastings, Janofsky &
Walker LLP is the Company's counsel.  BMC Group is claims and
notice agent.

As of June 30, 2009, FairPoint reported $3.24 billion in total
assets, $321.41 million in total current liabilities,
$2.91 billion in total long-term liabilities, and $1.23 million in
total stockholders' equity.

(FairPoint Bankruptcy News; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


FARM CREEK: Case Summary & 5 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Farm Creek Partners, LLC
        29 Cross Street
        Topsfield, MA 01983

Bankruptcy Case No.: 10-19482

Chapter 11 Petition Date: August 31, 2010

Court: United States Bankruptcy Court
       District of Massachusetts (Boston)

Judge: Frank J. Bailey

Debtor's Counsel: Joseph G. Butler, Esq.
                  BARRON & STADFELD, P.C.
                  100 Cambridge Street, Suite 1310,
                  Boston, MA 02114
                  Tel: (617) 723-9800
                  E-mail: JGB@Barronstad.com

Scheduled Assets: $2,750,000

Scheduled Debts: $1,902,184

A list of the Company's five largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/mab10-19482.pdf

The petition was signed by Christopher F. Nash, manager.


FRANK GOMES: Plan of Reorganization Wins Court Approval
-------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of California
confirmed Frank J. Gomes Dairy's Plan of Reorganization, as
amended.

As reported in the Troubled Company Reporter on April 6, 2010,
the Debtor intends to continue operations of both dairies and to
pay its creditors over time.  For the Plan to be fully funded, the
herd must be increased by 1,000 animals.  The Debtor estimates
that it will be able to purchase between 650 to 700 milking cows
from the proceeds of the pool quota sale.  The additional 300 to
350 cows will be from its heifer replacement program.  The
payments to the unsecured class are increased as the herd
increases up to the additional 1,000 cows.  The payment to the
unsecured creditors is tied to the milk and commodity prices.

Under the Plan:

  -- Wells Fargo will receive a fixed payment of $2,000,000 per
     year payable monthly at $166,667 on their entire obligation,
     including the terminated interest swap damage amount.

  -- BM&A Retirement Trust will receive interest only payments for
     60 months from the confirmation at the rate of 5% per annum,
     payable monthly.

  -- Secured creditors junior to BM&A Retirement Trust will be
     amortized over a period of 25 years at 5% interest payable
     monthly.

  -- Claims secured by equipment loans will be amortized over a
     period of five years at 7% interest payable monthly beginning
     at the end of the first full month after confirmation.

  -- Unsecured creditors totaling $3,912,408 will be paid pro rata
     quarterly beginning at the end of the first full calendar
     quarter after confirmation.

A full-text copy of the Second Amended Plan is available for free
at http://bankrupt.com/misc/FrankJGomez_DS.pdf

                    About Frank J. Gomes Dairy

Headquartered in Stevenson, California, Frank J. Gomes Dairy dba F
and A Farms operates an agricultural and farming business.

The Company filed for Chapter 11 protection on November 12, 2009
(Bankr. E.D. Calif. Case No. 09-61024).  Hilton A. Ryder, Esq. at
McCormick, Barstow, Sheppard, Wayte & Carruth LLP, represents the
Debtor in its restructuring effort.  The Debtor disclosed
$34,625,671 in assets and $30,931,395 in liabilities.


FIRST RESERVE: Moody's Assigns 'B2' Corporate Family Rating
-----------------------------------------------------------
Moody's Investors Service assigned a B2 Corporate Family Rating to
First Reserve Crestwood Holdings LLC.  Moody's also assigned a
Caa1 rating to its proposed $180 million secured term loan.  The
outlook is stable.  The ratings are subject to a review of the
final documents.

                        Ratings Rationale

"The B2 CFR is supported by Crestwood's high proportion of fee
based revenues, experienced management team and a supportive
sponsor," said Pete Speer, Moody's Vice President.  "The rating is
restrained by the company's geographic and customer concentration
and elevated leverage metrics."

First Reserve Crestwood Holdings LLC is a holding company formed
to acquire Quicksilver Resources, Inc.'s ownership interests in
Quicksilver Gas Services, LP.  Crestwood is paying Quicksilver
$701 million in cash at closing, with up to an additional
$72 million of earn-out payments in 2011 and 2012 if specified
volume targets are achieved.  Following the acquisition and the
planned conversion of a note receivable from KGS into common
units, Crestwood will own 100% of the general partner interest and
approximately 62.5% of the common units in KGS.  Crestwood is
owned primarily by funds managed by First Reserve Corporation, a
private equity firm that has extensive experience investing in the
energy sector.

The proceeds from the $180 million term loan will be combined with
$535 million of cash equity from First Reserve to fund the
acquisition.  The earnout payments, if triggered, are expected to
be funded with additional term loan borrowings.  The proposed term
loan will have a six year maturity and is secured by all of
Crestwood's assets, including its GP interests and common units in
KGS.  The loan will not be guaranteed by KGS and will be dependent
on distributions received from KGS to meet its debt service
requirements.  Based on KGS' annualized second quarter 2010
EBITDA, Crestwood's pro forma consolidated debt/EBITDA is around
5.6x.

The term loan's Caa1 rating reflects both the overall probability
of default of Crestwood, to which Moody's assigns a PDR of B2, and
a loss given default of LGD 5 (85%).  Although the term loan is
senior secured, in substance it is only secured by Crestwood's
equity ownership interests in KGS.  The term loan is structurally
subordinated to KGS' $350 million senior secured revolving credit
facility and other liabilities.  The term loan's subordinated
claim to the operating assets at KGS and the size of the
revolver's potential priority claim results in the term loan being
rated two notches beneath Crestwood's CFR under Moody's Loss Given
Default Methodology.

KGS owns natural gas gathering and processing assets serving the
Fort Worth Barnett Shale basin in Texas.  All of the partnership's
natural gas volumes gathered and processed during the six months
ended June 30, 2010, were subject to fee-based contracts.  As a
result KGS has no direct commodity price risk.  However,
approximately 94% of its total gathering and 88% of its processing
volumes in the first half of 2010 were comprised of natural gas
owned or controlled by Quicksilver.  Therefore KGS' volume risk is
currently very concentrated with Quicksilver and its ongoing
development in the Barnett Shale.

First Reserve Crestwood Holdings LLC is a private holding company
owned primarily by a fund managed by First Reserve Corporation.
Upon the closing of its proposed transaction with Quicksilver
Resources, the company will own a controlling majority interest in
Quicksilver Gas Services LP, a publicly traded midstream master
limited partnership that provides natural gas gathering and
processing services.


GARLOCK SEALING: Asbestos Committee Proposes Plan Schedule
----------------------------------------------------------
The Official Committee of Asbestos Personal Injury Claimants for
Garlock Sealing Technologies LLC asks the Court to enter an order
setting forth a schedule and process for formulating a confirmable
plan of reorganization in the Debtors' Chapter 11 cases.

Garlock Sealing Technologies LLC said it intends to reorganize
within the framework of Section 524(g) of the Bankruptcy Code.
Under a Section 524(g) plan, all asbestos-related claims against
Garlock, both present and future, would be channeled to a post-
confirmation trust.

The Asbestos Claimants Committee is, thus, optimistic that a
consensual plan can be achieved, and its Proposed Scheduling Order
is intended to facilitate the formulation of a confirmable plan
within a reasonable period of time, Travis W. Moon, Esq., at
Hamilton Moon Stephens Steele & Martin, PLLC, in Charlotte, North
Carolina, tells the Court.  "The Proposed Scheduling Order
provides a conceptual framework and deadlines for completing steps
necessary to formulate a confirmable plan in an expeditious manner
that would conserve the resources of the Court and the interested
parties," he elaborates.

According to Mr. Moon, the Proposed Scheduling Order would focus
on the central question for plan formulation in these Chapter 11
cases: Does Garlock's aggregate asbestos liability exceed the
value of Garlock's assets?

To answer that question, he says, two main issues must be
determined:

  (1) the extent of Garlock's asbestos liabilities; and

  (2) the value of the estates' assets available to satisfy
      those liabilities.

In that light, the Asbestos Claimants Committee proposes these
dates governing discovery of Garlock's aggregate asbestos-related
liability and the value of its assets:

  Future Claims Representative        on or before
  appointment                         September 16, 2010

  Parties may commence written fact   September 17, 2010
  discovery regarding Garlock's
  aggregate asbestos-related
  liability

  Parties may commence written fact   September 17, 2010
  discovery regarding the value of
  the assets in the estates

  Deadline for production of          September 23, 2010
  Garlock's database of asbestos-
  related claims information

  Parties may commence depositions    September 23, 2010
  of nonexpert witnesses regarding
  the value of the assets in the
  estates

  Parties may commence depositions of September 30, 2010
  nonexpert witnesses regarding
  Garlock's aggregate asbestos-
  related liability

  Deadline for completion of written   November 15, 2010
  fact discovery and depositions of
  non-expert witnesses regarding
  Garlock's aggregate asbestos-
  related liability

  Deadline for service of expert       December 21, 2010
  reports regarding Garlock's
  aggregate asbestos-related
  liability

  Deadline for completion of written  December 21, 2010
  fact discovery and depositions of
  non-expert witnesses regarding the
  value of the assets in the estates

  Deadline for service of expert       January 14, 2011
  reports regarding the value of
  the assets in the estates

  Deadline for service of expert       January 24, 2011
  rebuttal reports regarding
  Garlock's aggregate asbestos-
  related liability

  Deadline for service of expert      February 11, 2011
  rebuttal reports regarding the
  value of the assets in the estates

  Deadline for depositions of         February 28, 2011
  experts regarding the value of
  the assets in the estates

  Deadline for depositions of         February 28, 2011
  experts regarding Garlock's
  aggregate asbestos-related
  liability

Mr. Moon assures the Court that at best, the Proposed Scheduling
Order would:

  (1) establish a fair and reasonably expeditious schedule for
      the parties to approximate the value of Garlock's
      aggregate remaining asbestos-related liability;

  (2) provide for prompt appointment of the Future Claims
      Representative to represent the interests of future
      asbestos claimants in any discovery and plan negotiations;

  (3) give the Asbestos Claimants Committee and the Future
      Claims Representative access to the Claims Database, the
      primary source of information the parties' experts will
      use to estimate Garlock's aggregate asbestos liability;

  (4) limit the scope of permissible discovery, focusing on the
      essential tasks for plan formulation, which is valuing the
      assets and principal liabilities of the estates;

  (5) allow for a preliminary investigation into potential
      avoidance actions that may enhance creditors' recoveries;
      and

  (6) set the Debtors' Chapter 11 cases on a clear course toward
      confirmation of a plan of reorganization, in keeping with
      the Bankruptcy Code's goals of speed and efficiency.

However, if the parties fail to reach consensus on a confirmable
plan of reorganization within the exclusivity period, the Asbestos
Claimants Committee reserves the right to file its own plan of
reorganization.

In support of its request and in response to the Debtors' Chapter
11 information brief dated June 7, 2010, the Asbestos Claimants
Committee filed with the Court an information brief discussing,
among other things, the reasons why the Court must reject
Garlock's invitation to rewrite history, law and medicine.

Full-text copies of the Proposed Scheduling Order and an
accompanying information brief are available for free at:

  http://bankrupt.com/misc/Garlock_PropSchedOrder.pdf
  http://bankrupt.com/misc/Garlock_AsbestosInfoBrief.pdf

The Court will consider the Asbestos Claimants Committee's request
on September 16, 2010.

                      About Garlock Sealing

Headquartered in Palmyra, NY, Garlock Sealing Technologies LLC is
an EnPro Industries, Inc. company (NYSE: NPO).  For more than a
century, Garlock has been helping customers efficiently seal the
toughest process fluids in the most demanding applications.

On June 5, Garlock filed a voluntary Chapter 11 petition (Bankr.
W.D. N.C. Case No. 10-31607) in Charlotte, North Carolina, to
establish a trust to resolve all current and future asbestos
claims against Garlock under Section 524(g) of the U.S. Bankruptcy
Code.  The Debtor estimated $500 million to $1 billion in assets
and up to $500 million in debts as of the Petition Date.
Affiliates The Anchor Packing Company and Garrison Litigation
Management Group, Ltd., also filed for bankruptcy.

The filing covers only Garlock operations in Palmyra, New York and
Houston, Texas.  Garlock Rubber Technologies, Garlock Helicoflex,
Pikotek, Technetics, Garlock Europe and Garlock operations in
Canada, Mexico or Australia are not affected by the filing, nor is
EnPro Industries or any other EnPro operating subsidiary.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in its Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for Asbestos matters.

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


GARLOCK SEALING: Asbestos Panel Wins OK to Tap Financial Advisor
----------------------------------------------------------------
The Official Committee of Asbestos Personal Injury Claimants for
Garlock Sealing Technologies LLC won the U.S. Bankruptcy Court's
permission to retain Charter Oak Financial Consultants, LLC, as
its financial advisor.

As financial advisor to the Asbestos Claimants Committee, Charter
Oak will:

  (a) provide oversight to enable the Asbestos Claimants
      Committee to fulfill its responsibilities to monitor the
      Debtors' financial affairs and the financial affairs of
      the Debtors' affiliates and subsidiaries;

  (b) interpret and analyze financial materials, including
      accounting, tax, statistical, financial and economic data,
      regarding the Debtors, their affiliates and subsidiaries,
      and other relevant entities;

  (c) analyze and advise accounting, financial, valuation and
      related issues that may arise in the course of the
      Debtors' Chapter 11 proceedings;

  (d) assist the Asbestos Claimants Committee's counsel
      in the evaluation and preparation of avoidance power
      claims and any other potential litigation, as requested;

  (e) analyze and advise settlement negotiations and any
      potential plan of reorganization;

  (f) provide expert testimony on financial matters, if
      requested; and

  (g) provide other services as the Asbestos Claimants Committee
      may request.

The Debtors will pay Charter Oak's professionals according to
their customary hourly rates.  Specific professionals to be
engaged by the Asbestos Claimants Committee are:

  Name                   Title                    Rate per Hour
  ----                   -----                    -------------
  Bradley M. Rapp       Senior Managing Director      $595
  James P. Sinclair     Senior Managing Director      $595
  Robert H. Lindsay     Managing Director             $550
  Alan Cohen            Associate Director            $385
  Stephen O'Brien       Associate Director            $385
  Peter Cramp           Senior Analyst                $275
  Duncan Sinclair       Senior Analyst                $275
  Gibbons Sinclair      Senior Analyst                $275

Charter Oak will also be reimbursed for expenses incurred.

James P. Sinclair relates that his firm is a "disinterested
person" as the term is defined in Section 101(14) of the
Bankruptcy Code.

                      About Garlock Sealing

Headquartered in Palmyra, NY, Garlock Sealing Technologies LLC is
an EnPro Industries, Inc. company (NYSE: NPO).  For more than a
century, Garlock has been helping customers efficiently seal the
toughest process fluids in the most demanding applications.

On June 5, Garlock filed a voluntary Chapter 11 petition (Bankr.
W.D. N.C. Case No. 10-31607) in Charlotte, North Carolina, to
establish a trust to resolve all current and future asbestos
claims against Garlock under Section 524(g) of the U.S. Bankruptcy
Code.  The Debtor estimated $500 million to $1 billion in assets
and up to $500 million in debts as of the Petition Date.
Affiliates The Anchor Packing Company and Garrison Litigation
Management Group, Ltd., also filed for bankruptcy.

The filing covers only Garlock operations in Palmyra, New York and
Houston, Texas.  Garlock Rubber Technologies, Garlock Helicoflex,
Pikotek, Technetics, Garlock Europe and Garlock operations in
Canada, Mexico or Australia are not affected by the filing, nor is
EnPro Industries or any other EnPro operating subsidiary.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in its Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for Asbestos matters.

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


GENERAL GROWTH: Concludes Auctions for Summerlin Lots
-----------------------------------------------------
Howard Hughes Properties, Inc., and The Howard Hughes Company,
LLC, f/k/a The Howard Hughes Corporation, informed the Court that
they conducted auctions on August 23, 2010, for four parcels
located at Summerlin master planned property in Clark County,
Nevada:

* 109 40' x 90' lots;
* 115 45' x 90' lots;
* 162 40' x 100' lots; and
* 117 55' x 100' lots.

As to Parcel 109, PN II, Inc., d/b/a Pulte Homes of Nevada,
emerged as the prevailing purchaser with a $8,489,300-bid, and KB
Home NV Acquisition LLC was selected as the back-up bidder with a
$8,489,300 bid.

With respect to Parcel 115, Richmond American Homes of Nevada's
bid emerged as the prevailing bid for $9,760,500; and the back-up
bidder is KB Home with a bid of $9,510,500.

As to Parcel 162, PN II is the prevailing purchaser with a bid of
$13,981,001, and Lennar Communities Nevada, Inc., is the back-up
bidder at $13,481,001.

With respect to Parcel 117, Richmond is the prevailing purchaser
with $12,477,099, and the back-up bidder is Toll South LV, LLC,
with a bid of $12,227,099.

A hearing to consider the sales of the Parcels is scheduled for
August 26, 2010.

                       About General Growth

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

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

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


GENERAL GROWTH: Wins Nod to Hire Epiq as Voting Agent
-----------------------------------------------------
General Growth Properties Inc. and its units won the U.S.
Bankruptcy Court's permission to employ Epiq Bankruptcy Solutions
LLC as their voting and solicitation agent in connection with the
Joint Plan of Reorganization.

As the Plan Debtors' voting agent, Epiq will:

  (a) provide advice to the Debtors and their counsel regarding
      all aspects of the Plan vote, including timing issues,
      voting and tabulation procedures, or treatment election,
      and related documents;

  (b) review the relevant portions of the Disclosure Statement,
      ballots, election forms and other documents particularly
      as they may relate to beneficial owners of securities held
      in Street name;

  (c) work with General Growth Properties, Inc. to request
      appropriate information with respect to the debt and
      equity securities from The Depository Trust Company, the
      transfer agent of the equity, the indenture trustee for
      the relevant debt securities, or other agent;

  (d) mail voting documents to any registered record holders of
      equity, and, if requested, bank debt or other parties
      entitled to vote;

  (e) coordinate the distribution of any election documents to
      Street name holders of debt securities by forwarding the
      appropriate documents to the reorganization departments of
      the banks and brokerage firms holding the securities, who
      in turn will forward it to the beneficial owners for
      action;

  (f) distribute copies of the master ballots to the appropriate
      nominees after the initial mailing, so that firms may cast
      votes on behalf of beneficial owners of equity;

  (g) prepare certificates of service for filing with the Court;

  (h) handle requests for documents from parties in interest,
      including brokerage firm and bank back-offices and
      institutional holders;

  (i) respond to telephone inquiries from security holders,
      nominees, and voting parties regarding the Disclosure
      Statement and the voting and election procedures.  Epiq
      will restrict its answers to the information contained in
      the Plan documents.  Epiq will seek assistance from the
      company or its counsel on any questions that fall outside
      of the voting and election documents;

  (j) if requested to do so, Epiq will make telephone calls to
      voting parties to confirm receipt of Plan documents and
      respond to questions about the voting procedures;

  (k) receive and examine all ballots and master ballots cast by
      holders of equity.  Epiq will date-stamp the originals of
      all those ballots and master ballots upon receipt;

  (l) tabulate all ballots and master ballots received before
      the voting deadline in accordance with established
      procedures, and prepare a vote certification for
      filing with the court;

  (m) in connection with any treatment election, Epiq would act
      as ATOP agent and coordinate the transaction with DTC; and

  (n) undertake other duties as may be agreed upon by the
      Debtors and Epiq.

The Plan Debtors relate that their proposed employment of Epiq
will not affect the Debtors' previous employment of Kurtzman
Carson Consultants LLC as claims agent.  The Plan Debtors have
coordinated with Epiq and KCC and the two will work together
rather than duplicate efforts.

The Debtors will also pay Epiq's professionals customary hourly
rates:

    Title                          Rate per Hour
    -----                          -------------
    Executive vice president           $369
    Vice President                     $324
    Senior Consultant                  $270
    Senior Case Manager             $203 to $248
    Case Manager Level 2            $167 to $198
    IT Programming Consultant       $126 to $162
    Case Manager Level 1            $113 to $158
    Clerical                         $36 to $54

In connection with Epiq's services, Epiq has sought a retainer of
$25,000 to fund out-of-pocket and other charges on a rolling
basis.  Epiq will apply the retainer to the final bill and refund
any difference at the end of the engagement.

The Plan Debtors will reimburse Epiq for expenses incurred.  A
schedule of Epiq's rates for certain services is available for
free at http://bankrupt.com/misc/ggp_EpiqPricingSched.pdf

Jane Sullivan, executive vice president of Epiq --
jsullivan@epiqsystems.com -- relates that as of January 1, 2010,
Financial Balloting Group combined with, and does business as,
Epiq.  She further notes that Epiq continue to maintain
appropriate ethical walls to ensure that the firm's professionals
supporting Epiq's role as information agent to the Official
Committee of Unsecured Creditors are screened completely from
Epiq professionals responsible for Epiq's role as voting agent
for the Plan Debtors, she assures the Court.

Ms. Sullivan maintains that Epiq is a "disinterested person" as
the term is defined in Section 101(14) of the Bankruptcy Code.

                       About General Growth

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

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

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


GENERAL MOTORS: BMW & Punch Object to Pacts Assignment
------------------------------------------------------
Motors Liquidation Company, formerly known as General Motors
Corporation, has entered into a Stock Purchase Agreement dated
July 30, 2010, with General Motors Automotive Holdings, S.L., as
purchaser, to sell all of the issued and outstanding shares of
common stock -- the Transferred Stock -- of General Motors
Strasbourg S.A.S., a French societe par actions simplifiee.

GM Strasbourg is a wholly-owned subsidiary of Motors Liquidation
and is primarily engaged in the business of developing and
manufacturing automatic transmissions for luxury and performance
light automotive vehicles, including its two main customers,
Bayerische Motoren Werke Aktiengesellschaft or BMW and General
Motors, LLC or New GM.  BMW and New GM together are projected to
account for over 95% of the GM Strasbourg revenue for 2010,
Harvey R. Miller, Esq., at Weil, Gotshal & Manges LLP, in New
York, relates.

For almost 25 years, GM Strasbourg has supplied approximately
2.5 million transmission units for various BMW applications across
North America, Europe, Asia, and the Middle East.  Currently, BMW
accounts for over 65% of the Company's unit volume sales.   The
contract under which automatic transmissions are supplied to BMW
by GM Strasbourg is between BMW and Motors Liquidation, and
therefore, as a condition of the SPA, the BMW Contract must be
assigned to GM Strasbourg, Mr. Miller notes.

By this Motion, the Debtors ask Judge Robert E. Gerber of the U.S.
Bankruptcy for the Southern District of New York to approve:

  -- the sale of the Transferred Stock to the Purchaser pursuant
     to the SPA; and

  -- the assumption and assignment of the BMW Contract to the
     Company in connection with the Sale.

                 BMW & Punch Corporation Object

Bayerische Motoren Werke Aktiengesellschaft tells the Court that
fatal to the Debtors' motion is the fact that there exist
material, incurable defaults under the stock purchase agreement
with General Motors Holdings, S.L.

Frederick D. Hyman, Esq., at Mayer Brown LLP, in New York, on
behalf of BMW, says the Debtors do not have any proposed cure or
any assurance that either Motors Liquidation Company, or the
proposed assignee, has the wherewithal to prospectively perform
the underlying agreement as required under Section 365(b) of the
Bankruptcy Code.  Accordingly, the Debtors' motion to assume
should be denied, he asserts.

Moreover, Mr. Hyman avers that assuming arguendo that the Court
allows the Debtors to assume the subject agreement, Section 365(f)
precludes any attempt by the Debtors to assign the agreement
because there has not been -- and indeed there cannot be -- any
assurance that the proposed assignee can adequately perform under
the agreement.

BMW also asks the Court that in the likely event that the Court
will require an evidentiary hearing to reach a determination on
the Motion, the evidentiary hearing should be scheduled on a date
no earlier than September 30, 2010, to allow sufficient time for
BMW witnesses, all of whom are located in Germany, to travel to
New York and, to the extent necessary, the translation of German-
language documents.

BMW asks the Court to sustain its objection.

Punch Corporation, in a separate filing, asks the Court to require
the Debtors to submit the proposed transaction with General Motors
Holdings S.L. transaction and Punch's binding offer to acquire all
the shares of General Motors Strasburg SAS and assume the BMW
contract to an independent fiduciary to evaluate the competing
offers.

According to Punch Corporation's counsel, S. Robert Schranger,
Esq., at Hodgson Russ, LLP, in New York, the manufacturing company
entered into discussions with the Debtors, had several meetings,
and made several revised offers to acquire the assets at issue.
He says, at one point, Punch was the last interested party.
However, during those negotiations, there was a critical issue --
that of obtaining a Supply Agreement with General Motors
Corporation.

It appears that Punch, Mr. Schranger notes, was negotiating with
only part of the facts available to it.  He reveals that based on
the new facts revealed in the Sale Motion, Punch has submitted
written, binding, unconditional offer to acquire the shares of
General Motors Strasburg SAS for $3 million and the assumption of
the BMW contract and payment to the Debtors of 50% of all future
cash proceeds arising from a related litigation.

Mr. Schranger adds that Punch agrees to honor all the negotiated
and agreed collective bargaining agreements and working conditions
already in place and is willing to commit to additional steps to
ensure the future of the Company.  Punch is prepared to have
immediate meetings with the representatives of the Works Council
of the Company, he says.

It is now clear that the Sale Motion, the sale process and the
outcome proposed by the Debtors will benefit only a few selected
entities, Punch complains.

Accordingly, Punch asks the Court to appoint an independent
fiduciary to fully evaluate the competing offers.

                       About General Motors

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

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

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

                   About Motors Liquidation

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

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

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


GENERAL MOTORS: Old GM Seeks Authority to Vote on New GM Charter
----------------------------------------------------------------
As a result of the sale of substantially all of the assets of
Motors Liquidation Company and its debtor affiliates to General
Motors Company, the Debtors are significant stockholders of New
GM.  New GM is soliciting support for an amendment to its Amended
and Restated Certificate of Incorporation in an attempt to
preserve certain tax benefits, which are of substantial value to
its operations.

By this motion, the Debtors ask the Court to allow MLC to exercise
its stock powers to vote its shares in favor of an amendment to
the Charter of New GM.

Joseph Smolinsky, Esq., at Weil, Gotshal & Manges LLP, in New
York, relates that because of the structure of the 363 Asset Sale
Transaction, New GM has succeeded to the net operating losses and
other tax attributes previously held by MLC.

Those Tax Benefits are believed to aggregate approximately
$42 billion as of December 31, 2009.

Mr. Smolinsky elaborates that the Charter Amendment is designed to
reduce the risk of an ownership change with respect to New GM that
would limit New GM's ability to utilize its Tax Benefits.  New
GM's Tax Benefits, he says, are valuable assets because the
Internal Revenue Code of 1986, as amended, generally permits
corporations to carry over their losses and tax credits to offset
future income, thereby reducing tax liability in future periods.

The Tax Benefits, Mr. Smolinsky points out, could potentially
allow New GM to significantly reduce future U.S. federal income
tax liability, depending on its future operating results.

Moreover, it is the Debtors' understanding that New GM's
underwriter has determined that the trade restrictions to be
imposed under the Charter Amendment, in general, are expected by
the market and that the intended savings from the Tax Benefits
could substantially enhance New GM's cash position and therefore
enhance the equity value of New GM for the benefit of MLC and
other shareholders of New GM, Mr. Smolinsky tells the Court.

The ability of New GM to use the Tax Benefits to reduce future tax
liability is subject to certain statutory limitations, Mr.
Smolinsky notes.  Sections 382 and 383 of the Tax Code limit a
corporation's use of its net operating losses, tax credits, and
certain other tax attributes to offset future income or tax after
the corporation experiences an "ownership change."  For purposes
of Section 382, an ownership change generally occurs when the
percentage of a corporation's equity held by one or more "5-
percent shareholders" increases by more than 50 percentage points
over the lowest percentage of stock owned by those shareholders at
any time during the relevant testing period.  As a result of the
363 Transaction and after taking into account any transactions and
distributions expected to result from MLC's contemplated Chapter
11 plan, New GM will have experienced a substantial percentage
point increase of the type described in the preceding sentence for
Section 382 purposes, Mr. Smolinsky tells the Court.

Accordingly, unrestricted stock trading would impose a significant
risk of a Section 382 ownership change occurring as a result of or
after an initial public offering of New GM stock, the Debtors
note.  "That ownership change could substantially limit the
ability of New GM to use the Tax Benefits, thereby resulting in a
significant loss of value, which would impact MLC as a stockholder
in New GM, as well as the creditors of the Debtors, who are
expected to receive distributions in the form of, among other
things, New GM stock and warrants to purchase additional shares of
New GM stock," Mr. Smolinsky asserts.

Through the Charter Amendment, New GM is seeking the ability to
preclude certain transfers of, and the ability to monitor and
possibly object to other changes in the ownership of, Corporation
Securities to protect against a Section 382 ownership change after
the IPO.  In order to put the Charter Amendment in place with
maximum effectiveness, New GM requires the unanimous vote of all
stockholders, including MLC, in favor of the Charter Amendment.
For that reason, shareholder approval is being sought prior to an
IPO by New GM.

New GM has indicated that in the absence of the Charter Amendment,
it would be compelled to institute a more restrictive program to
preserve the Tax Benefits, like the issuance of stock purchase
rights intended to make a transaction that could cause an
ownership change prohibitively expensive to the buyer -- a form of
"poison pill" -- according to Mr. Smolinsky.

New GM has scheduled a shareholder meeting on September 28, 2010,
for voting on the Charter Amendment.

                       About General Motors

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

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

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

                   About Motors Liquidation

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

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

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


GLENN WONG: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Glenn Davis Wong
        3212 E. Laurel Creek Road
        Belmont, CA 94002

Bankruptcy Case No.: 10-33425

Chapter 11 Petition Date: September 1, 2010

Court: U.S. Bankruptcy Court
       Northern District of California (San Francisco)

Judge: Dennis Montali

Debtor's Counsel: James F. Beiden, Esq.
                  840 Hinckley Road, #245
                  Burlingame, CA 94010
                  Tel: (650) 697-6100
                  E-mail: attyjfb@yahoo.com

Scheduled Assets: $6,998,524

Scheduled Debts: $8,161,210

A list of the Debtor's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/canb10-33425.pdf


GLOUCESTER ENGINEERING: Taps Hanify & King as Bankruptcy Counsel
----------------------------------------------------------------
The Hon. Joan N. Feeney of the U.S. Bankruptcy Court for the
District of Massachusetts authorized Gloucester Engineering Co.,
Inc., to employ Hanify & King, Professional Corporation as
bankruptcy counsel.

H&K is expected to, among other things:

   a. advise the Debtor with respect to its rights, powers and
      duties as debtor-in-possession in the continued operation of
      its businesses and management of its assets;

   b. advise the Debtor with respect to any plan of reorganization
      and any other matters relevant to the formulation and
      negotiation of a plan or plans in the case; and

   c. represent the Debtor at all hearings and matters pertaining
      to its affairs as debtor and debtor-in-possession;

The fees to be paid to H&K, and expenses to be reimbursed, will be
as allowed and determined by the Court.

To the best of the Debtor's knowledge, H&K is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

                   About Gloucester Engineering

Since its inception in 1961, Gloucester Engineering Company has
been a global leader in advancing quality and production limits in
the plastics extrusion and converting market.  GEC offers a range
of innovative system and component solutions, for both new lines
and retrofits, that provide customers a competitive edge in
applications that include bag making, foam and sheet extrusion,
blown and cast film extrusion, and extrusion coating.

GEC manufactures its equipment from its headquarters in
Gloucester, MA, USA and through its joint-venture company in
Damman, India, Kabra Gloucester Engineering.

Gloucester Engineering's Chapter 7 case -- filed on March 23, 2010
-- was converted to Chapter 11 bankruptcy protection on June 25,
2010 (Bankr. D. Mass. Case No. 10-12967).


GLOUCESTER ENGINEERING: U.S. Trustee Forms Creditors Committee
--------------------------------------------------------------
John P. Fitzgerald III, acting U.S. Trustee for Region 1,
appointed seven members to the official committee of unsecured
creditors in the Chapter 11 case of Gloucester Engineering Co.,
Inc.

The Creditors Committee members are:

1. Equity Industrial Gloucester, LLC
   Equity Industrial Gloucester Limited Partnership
   Attn: Donald Levine, president
   145 Rosemary Street, Suite E
   Needham, MA 02494
   Tel: (781) 449-9000
   Fax: (781) 449-9050
   E-mail: DLEVINE@eipcorp.net

2. Cloeren Incorporated
   Attn: Peter Cloeren, president
   P.O. Box 2129
   Orange, TX 77631
   Tel: (409) 951-7600
   E-mail: pcloeren@cloeren.com

3. Northeast Electrical Distributors
   Attn: Frank Lucas, director of credit
   135 Will Drive
   Canton, MA 02021
   Tel: (781) 401-8586
   Fax: (781) 401-8590
   E-mail frank.lucas@needco.com

4. SYNCRO SRL
   Attn: Carl Gillig, president
   Viale Dell'Industria 42
   21052 Bosto Arsizio
   Varese, Italy

   40329 N. Goldenrod Lane
   Wadsworth, IL 60038
   Tel: (847) 778-6760
   Fax: (847) 556-6099
   E-mail: carl@syncrousa.net

5. ABB Inc.
   Attn: James Connelly, senior attorney
   12040 Regency Parkway
   Cary, NC 27518
   1250 Brown Road
   Auburn Hills, MI 48326
   Tel: (248) 391-8664
   Fax: (248) 391-9270
   E-mail: James.Connelly@us.abb.com

6. Xaloy, Inc.
   Attn: Ronald A. Auletta, CEO and president
   1399 Countyline Road
   New Castle, PA 16107
   Tel: (724) 656-5635
   E-mail: r.auletta@us.xaloy.com

7. Rexnord Industries, LLC
   Attn: Jeff Ford, director of credit
   4701 W. Greenfield Avenue
   Milwaukee, WI 53214
   3001 W. Canal Street,
   Milwaukee, WI 53208
   Tel: (414) 935-9675
   Fax: (414) 935-9747
   E-mail: Jeff.Ford@rexnord.com

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.

Since its inception in 1961, Gloucester Engineering Company has
been a global leader in advancing quality and production limits in
the plastics extrusion and converting market.  GEC offers a range
of innovative system and component solutions, for both new lines
and retrofits, that provide customers a competitive edge in
applications that include bag making, foam and sheet extrusion,
blown and cast film extrusion, and extrusion coating.

GEC manufactures its equipment from its headquarters in
Gloucester, MA, USA and through its joint-venture company in
Damman, India, Kabra Gloucester Engineering.

Gloucester Engineering's Chapter 7 case -- filed on March 23, 2010
-- was converted to Chapter 11 bankruptcy protection on June 25,
2010 (Bankr. D. Mass. Case No. 10-12967).


GLOUCESTER ENGINEERING: Committee Retains Nixon Peabody as Counsel
------------------------------------------------------------------
The Joan N. Feeney of the U.S. Bankruptcy Court for the District
of Massachusetts authorized The Official Committee of Unsecured
Creditors in the Chapter 11 case of Gloucester Engineering Co.,
Inc., to retain Nixon Peabody LLP as its counsel.

Since its inception in 1961, Gloucester Engineering Company has
been a global leader in advancing quality and production limits in
the plastics extrusion and converting market.  GEC offers a range
of innovative system and component solutions, for both new lines
and retrofits, that provide customers a competitive edge in
applications that include bag making, foam and sheet extrusion,
blown and cast film extrusion, and extrusion coating.

GEC manufactures its equipment from its headquarters in
Gloucester, MA, USA and through its joint-venture company in
Damman, India, Kabra Gloucester Engineering.

Gloucester Engineering's Chapter 7 case -- filed on March 23, 2010
-- was converted to Chapter 11 bankruptcy protection on June 25,
2010 (Bankr. D. Mass. Case No. 10-12967).


GSC GROUP: Wants Access to Lenders' Cash to Consummate Assets Sale
------------------------------------------------------------------
GSC Group Inc., et al., ask the U.S. Bankruptcy Court for the
Southern District of New York for authorization to access the cash
collateral of their prepetition lenders.

As of the Petition Date, the Debtors owe $209,607,376 in secured
loans.  Black Diamond Commercial Finance, L.L.C., acted as
administrative agent and collateral agent to prepetition secured
parties.

Dow Jones' DBR Small Cap reports that GSC Group said it wasn't
able to strike a deal to sell its assets to lead lender Black
Diamond Capital but is proceeding with plans to put itself on the
auction block.

The Debtors are proposing a sale of a significant portion of their
assets and preserving the businesses is central to maximizing
value for the Debtors' estates and creditors.  The Debtor requires
access to the cash collateral, to remain in business to consummate
the contemplated asset sales.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtors will grant the prepetition secured
parties, among other things:  (i) adequate protection liens in and
upon all prepetition and postpetition assets and properties; (ii)
a superpriority claim over all administrative expense claims and
unsecured claims against the Debtors; and (iii) current cash
payments from the Debtors of all fees and expenses payable to the
agent under the prepetition credit documents.

The adequate protection liens and the adequate protection claim
will be subject to certain carve out expenses.

According to the cash collateral motion, for continue access to
cash collateral, the Debtors must:

   1) on or before the first day after the Petition Date, file a
      sale and bid procedures motion, including therewith a list
      of assets to be sold, in form and substance satisfactory to
      agent in its sole discretion, and on or before September 3
      file with the Court as an exhibit to the Bidding Procedures
      and make available in the Debtors' data room the proposed
      form of asset purchase agreement, in form and substance
      satisfactory to agent and Debtor as agreed between them;

   2) on or before September 14, obtain entry from the Bankruptcy
      Court of an order approving bid procedures in form and
      substance satisfactory to the agent in its sole discretion,
      which order will authorize (1) credit bids by the agent on
      behalf of the prepetition secured parties, (2) deem each of
      the Prepetition secured parties a qualified bidder, and
      (3) the solicitation of bids for the sale of the Debtors'
      assets and which will set a deadline to receive bids related
      to the sale of no later than October 6;

   3) on or before October 7, conduct an auction, if necessary;

   4) on or before October 22, obtain entry of an order of the
      Bankruptcy Court approving the sale in form and substance
      satisfactory to the agent in its sole discretion; and

   5) on or before October 25, close the sale.

                       About GSC Group Inc.

Based in a Florham Park, New Jersey, GSC Group Inc., is an
investment firm specializing in high-yield, high-risk debt.  GSC,
founded in 1999 by former Goldman Sachs Group Inc. partner Alfred
Eckert, manages debt pools known as collateralized loan
obligations, and owns portfolio companies.

GSC Group Inc., together with its affiliates, filed for Chapter 11
protection on August 31, 2010 (Bankr. S.D.N.Y. Case No. 10-14653).
Michael B. Solow, Esq., at Kaye Scholer LLP --
msolow@kayescholer.com -- in Chicago, Illinois, serves as its
bankruptcy counsel.  Capstone Advisory Group, LLC, is the
financial advisor.  Epiq Bankruptcy Solutions, LLC, is the claims
agent.  The Company estimated assets at $1 million to $10 million
and debts at $100 million to $500 million.


HAMPTON ROADS: Posts $52.6 Million in June 30 Quarter
-----------------------------------------------------
Hampton Roads Bankshares, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $52.6 million on $17.7 million of
net interest income for the three months ended June 30, 2010,
compared to a net loss of $43.2 million on $25.9 million of net
interest income for the same period of 2009.

The Company's balance sheet as of June 30, 2010, showed
$2.877 billion in total assets, $2.843 billion in total
liabilities, and stockholders' equity of $34.2 million.

Yount, Hyde & Barbour, P.C., in Winchester, Va., expressed
substantial doubt about the Company's ability to continue as a
going concern in its report on the Company's restated consolidated
financial statements for the year ended December 31, 2009.  The
independent auditors noted that quantitative measures established
by regulation to ensure capital adequacy require the Company and
its subsidiary banks to maintain minimum amounts and ratios of
total and Tier I capital to risk-weighted assets, and Tier I
capital to average assets.  In addition, the Company has suffered
recurring losses from operations and declining levels of capital.

In its latest 10-Q, the Company discloses that 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.

Under the terms of the Written Agreement, both the Company and
BOHR have agreed to submit for approval capital plans to maintain
sufficient capital at the Company, on a consolidated basis, and to
refrain from declaring or paying dividends absent prior regulatory
approval.

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

               http://researcharchives.com/t/s?6a9e

                  About Hampton Roads Bankshares

Norfolk, Va.-based Hampton Roads Bankshares, Inc. (NASDAQ: HMPR)
-- http://www.hamptonroadsbanksharesinc.com/-- is a bank holding
company that was formed in 2001.  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 twenty-eight banking
offices in the Hampton Roads region of southeastern Virginia and
twenty-four 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 fifteen
ATMs. Through various affiliates, the Banks also offer mortgage
banking services, insurance, title insurance, and investment
products.


HARRISBURG, PA: Dauphin Cty. Gives TD Bank Green-Light to Sue
-------------------------------------------------------------
Michelle Kaske, writing for The Bond Buyer, reports that Dauphin
County on Wednesday authorized TD Bank to pursue legal action
against Harrisburg, as Pennsylvania's capital city said it will
not meet payments due Dec. 15 on $35 million of incinerator bonds.

The Harrisburg Authority has $282 million of outstanding
incinerator bonds.  A portion of that debt, $35 million of Series
2007C and Series 2007D bonds, will mature on Dec. 15.  The
authority and the city -- first-guarantor of all the incinerator
bonds -- cannot meet the payment.

Dauphin County, where Harrisburg is located, is co-guarantor of
much of the incinerator debt, including the $35 million of Series
2007 zero-coupon bonds due in December.  The bonds do not carry
insurance, though Assured Guaranty Municipal Corp. insures other
Harrisburg Authority incinerator debt.

According to Bond Buyer, Dauphin County spokeswoman Amy Richards
said the county budgeted for Series 2007C and Series 2007D
payments, but wanted to direct TD Bank, trustee for the
bondholders, to pursue litigation after the city failed to respond
to an Aug. 20 letter in which the county said it would like to
help refinance the Series 2007C and D bonds.

Harrisburg will skip $3.3 million in debt-service payments on
general obligation debt from 1997 due Sept. 15.  Ambac Assurance
Corp., which insures the GO bonds, will meet payments to
investors.  The Troubled Company Reporter ran a story on the
default on September 1.

According to Bond Buyer, Bear Stearns in 2007 priced via private
placement $20.9 million of Series 2007C bonds yielding 4.5% and $9
million of Series 2007D bonds yielding 6%.

Wells Capital Management Inc. holds the bulk of the debt, $14
million of Series 2007C bonds and all of the Series 2007D bonds,
according to Lyle Fitterer, managing director and head of tax-
exempt fixed income at Wells Capital.

USAA Investment Management Co. holds $9.7 million of the Series
2007C bonds, as of March 31, 2010, according to Bloomberg LP.

According to Bond Buyer, Mr. Fitterer said Wells Capital is secure
that in the end, the county will make good on the bonds.

According to Bond Buyer, Chuck Ardo, spokesman for Harrisburg
Mayor Linda Thompson, said litigation does not help to address the
fiscal challenge.

Bond Buyer notes that not all of the incinerator debt has the
county's guarantee.  Officials used debt service reserves to meet
a $2.1 million Sept. 1 payment to bondholders of Series 2003A, B,
C and Series 1998A bonds, said Michele Torres, executive director
of the Harrisburg Authority.  The next incinerator debt payment is
$1.2 million due Nov. 1 that does not have the county's guarantee,
according to the report.

Bond Buyer further relates that for several months, state, city,
and county officials have been working with AGM to craft a
forbearance term sheet that would give the city and the authority
some breathing room to craft a refinancing plan.  That agreement
has yet to develop.

The city has $575.8 million of debt outstanding, as of Dec. 31,
2008, Bond Buyer says, citing Moody's Investors Service.

                       About Harrisburg, PA

The city of Harrisburg is coping with debt related to a failed
revamp of an incinerator.  The outstanding principal on the
Incinerator debt is $288 million.  Total principal and interest on
this debt would amount to approximately $458 million.  Debt
service payments on the total incinerator debt are $20 million per
year.  Of this total, Dauphin County, Pennsylvania, is responsible
for roughly $10 million and Harrisburg is responsible for the
other $10 million.   The city is guarantor on 100% of the
$288 million Incinerator debt.

As reported by the Troubled Company Reporter on August 19, 2010,
Harrisburg hired Scott Balice Strategies to help plot a financial
recovery plan.


HGI HOLDING: S&P Affirms Corporate Credit Rating at 'B'
-------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'B'
corporate credit rating on Cleveland-based HGI Holding Inc.  At
the same time, S&P assigned a preliminary 'B+' issue-level rating
and a preliminary '2' recovery rating to the senior secured credit
facility.  The facility consists of a $50 million revolver due
2015 and a $315 million term loan due 2016.  S&P also assigned a
preliminary 'CCC+' issue-level rating and a preliminary '6'
recovery rating to the $150 million senior unsecured loan due
2017.

"The rating on HGI Holding reflects S&P's belief that the medical
products distributor company will maintain an aggressive financial
risk profile, characterized by high leverage and low coverage of
interest, while operating in a fragmented industry that has low
barriers to entry," said Standard & Poor's credit analyst Michael
Berrian.


HSH DELAWARE: Seeks Consensual Plan Confirmation on Oct. 19
-----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that HSH Delaware GP LLC will present its Chapter 11 plan
for confirmation at a hearing on October 19.  The Company is
expected to have no opposition for the Plan, after it settled
disputes with lenders owed $550 million.

According to the report, the Plan will convert the lenders' unpaid
fees and expenses into principal owing on the debt.  The maturity
will be extended to Dec. 31, 2014.  The Plan gives the company
time to sell the equity or the assets.  If there is a surplus
above the debt to the lenders, the Plan contains an agreed sharing
of the excess between the company and the lenders.  Unsecured
creditors will be paid in full.

                       About HSH Delaware

HSH Delaware GP LLC is based in Wilmington, Del.  Nine HSH
partnerships were created in 2006 to buy a 26% stake in
HSH Nordbank AG, the world's largest shipping financier, from
WestLB AG for about EUR1.25 billion ($1.76 billion).  The
partnerships received unsecured term and revolving loans of
EUR375 million from ABN AMRO bank to fund the purchase of HSH
Nordbank shares.

As reported by the Troubled Company Reporter on September 9, 2009,
creditors with claims aggregating $27.8 million petitioned (Bankr.
D. Del. Case No. 09-13145) to send affiliate HSH Delaware LP into
Chapter 7 liquidation.  Commerzbank AG, Lloyds TSB Bank Plc,
ABN Amro Bank NV, Calyon, Royal Bank of Scotland Plc and
Landsbanki Islands HF filed the involuntary Chapter 7 petition.

HSH Delaware filed for Chapter 11 bankruptcy protection on
(Bankr. D. Del. Case No. 10-10187) January 21, 2010.  The
Company estimated its assets and debts at $100 million to
$500 million at the time of the filing.

HSH Delaware's affiliates -- HSH Delaware L.P.; HSH Luxembourg
S.a.r.l.; HSH Luxembourg Coinvest S.a.r.l.; HSH Delaware GP LLC;
HSH Alberta I L.P.; HSH Alberta II L.P.; HSH Alberta V L.P.; HSH
Coinvest (Alberta) L.P.; JCF HSH (DE) GP LP; HSH Delaware L.P.;
HSH Luxembourg S.a.r.l.; and HSH Luxembourg Coinvest S.a.r.l. --
filed separate Chapter 11 petitions.

John Henry Knight, Esq.; Lee E. Kaufman, Esq.; Mark D. Collins,
Esq.; and Robert J. Stearn Jr., Esq., at Richards, Layton &
Finger, P.A., in Wilington, Del., assist the Debtors in their
restructuring effort.

The Debtors' Canadian Counsel is McCarthy Tetrault LLP.  The
Debtors' Chief Restructuring Officer is H. Ronald Weissman.


JAPAN AIRLINES: To Expand Codeshare With Vietnam Airlines
---------------------------------------------------------
Japan Airlines and Vietnam Airlines said in a public statement
that they will expand the scope of their bilateral agreement from
October 1, 2010, to again offer Vietnam Airlines-operated
codeshare flights between Nagoya, Chubu, and Ho Chi Minh, as well
as between Tokyo, Narita and Hanoi.  Reservations and ticket sales
have already started.

From October 1, 2010, JAL and Vietnam Airlines will be able to
collectively offer codeshare flights on eight routes that
effectively connect vital gateways in Japan -- Tokyo, (Narita),
Osaka (Kansai), Nagoya (Chubu) and Fukuoka, with both Vietnamese
cities of Hanoi and Ho Chi Minh.

Flights will be operated between Chubu and Ho Chi Minh on Monday
and Friday with an Airbus A321 aircraft.  The flights from Narita
to Hanoi will be operated on Tuesday, Thursday, Saturday and
Sunday with an Airbus A330 aircraft.  Flights will also be
operated from Hanoi to Narita on Monday, Wednesday and Friday
using an Airbus A330 aircraft.

                        About Japan Airlines

Japan Airlines Corporation -- http://www.jal.co.jp/-- is a
Japan-based company mainly engaged in the provision of air
transport services.  The Company is active in five business
segments through its 203 subsidiaries and 83 associated companies.
JAL International Co. Ltd. is a wholly owned operating subsidiary
of Japan Airlines Corporation.

Japan Airlines Corporation, Japan Airlines International Co., Ltd.
and JAL Capital Co., Ltd., on January 19, 2010, filed the
petitions to commenced corporate reorganization proceedings with
the Tokyo District Court.  The Court appointed the Enterprise
Turnaround Initiative Corporation of Japan and Eiji Katayama,
Esq., as reorganization trustees.

Japan Airlines Corp. filed for reorganization January 19, 2010, in
the Tokyo District Court and filed a Chapter 15 petition in New
York (Bankr. S.D.N.Y. Case No. 10-10198).  The Company estimated
debts at $28 billion.

Bankruptcy Creditors' Service, Inc., publishes Japan Airlines
Bankruptcy News.  The newsletter tracks the Chapter 15 proceedings
and the bankruptcy proceedings in Tokyo undertaken by Japan
Airlines Corp. and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


JESSE CONNOR: Case Summary & 7 Largest Unsecured Creditors
----------------------------------------------------------
Joint Debtors: Jesse C. Connor
               Deidre A. Connor
               435 Sanitarium Road
               Washington, PA 15301

Bankruptcy Case No.: 10-26229

Chapter 11 Petition Date: September 1, 2010

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

Debtors' Counsel: Robert O. Lampl, Esq.
                  960 Penn Avenue, Suite 1200
                  Pittsburgh, PA 15222
                  Tel: (412) 392-0330
                  Fax: (412) 392-0335
                  E-mail: rol@lampllaw.com

Estimated Assets: $100,001 to $500,000

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

A list of the Joint Debtors' seven largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/pawb10-26229.pdf


JOHNNY NGUYEN: Case Summary & 8 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: Johnny Lai Nguyen
               Nancy Hanh Nguyen
               1697 Mountaire Lane
               San Jose, CA 95138

Bankruptcy Case No.: 10-59184

Chapter 11 Petition Date: September 1, 2010

Court: U.S. Bankruptcy Court
       Northern District of California (San Jose)

Judge: Roger L. Efremsky

Debtors' Counsel: Michael H. Luu, Esq.
                  1340 Tully Road, #309
                  San Jose, CA 95122
                  Tel: (408) 425-6221
                  E-mail: mikeluu63@yahoo.com

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

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

A list of the Joint Debtors' eight largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/canb10-59184.pdf


KEN & ASSOCIATES: Case Summary & 19 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Ken & Associates Inc.
        P.O. Box 2611
        Orange, CA 92859

Bankruptcy Case No.: 10-26670

Chapter 11 Petition Date: August 31, 2010

Court: United States Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Mike K. Nakagawa

Debtor's Counsel: H Stan Johnson, Esq.
                  CJD LAW GROUP, LLC
                  6293 Dean Martin Drive, Ste. G
                  Las Vegas, NV 89118
                  Tel: (702) 823-3500
                  Fax: (702) 823-3400
                  E-mail: sjohnson@cjdnv.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 19 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nvb10-26670.pdf

The petition was signed by Kenneth Gharib, managing member.


LA CORTEZ: Incurs $2.9 Million Net Loss in June 30 Quarter
----------------------------------------------------------
La Cortez Energy, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $2.9 million on $75,891 of revenues,
compared with net income of $1.4 million on zero revenues for the
same period in 2009.

At June 30, 2010, the Company had cash and cash equivalents of
$13.6 million and working capital deficit of $692,074.

The Company's balance sheet as of June 30, 2010, showed
$35.2 million in total assets, $14.6 million in total liabilities,
and shareholders' equity of $20.6 million.

BDO Seidman, LLP, in Houston, Texas, expressed substantial doubt
about the Company's ability to continue as a going concern
following its 2009 results.  The independent auditors noted that
the Company has limited operating history, no historical
profitability, and has limited available funds.

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

               http://researcharchives.com/t/s?6a9f

Headquartered in Bogota, Colombia, La Cortez Energy, Inc. (OTC BB:
LCTZ) -- http://www.lacortezenergy.com/-- is an early stage oil
and gas exploration and production company currently pursuing a
business strategy in the energy sector in South America, with an
initial focus on identifying oil and gas exploration and
production opportunities in Colombia.

The Company was incorporated under the name of La Cortez
Enterprises, Inc., on June 9, 2006, in the State of Nevada.  This
entity was originally formed to create, market and sell gourmet
chocolates wholesale and retail throughout Mexico.  This business
has been discontinued.  On February 8, 2008, the Company changed
its name from La Cortez Enterprises, Inc., to La Cortez Energy,
Inc.


LANDRY'S HOLDINGS: Moody's Puts 'Caa1' Rating on $110 Mil. Notes
----------------------------------------------------------------
Moody's Investors Service assigned a Caa1 rating to Landry's
Holdings, Inc.'s $110 million senior secured notes, due 2014.
Moody's also assigned a B2 Corporate Family and Probability of
Default rating to LHI.  All ratings were placed on review for
possible downgrade.  Moody's ratings for Landry's Restaurants,
Inc. (restricted group) remain under review for possible
downgrade.  LHI is a newly established holding company which owns
the Fertitta Group -- the legal entity which plans to acquire
Landry's Restaurants, Inc. in a leveraged buyout and take the
company private.

Ratings assigned and placed on review for possible downgrade are:

Landry's Holdings, Inc.;

* Corporate Family Rating at B2
* Probability of Default Rating at B2
* $110 million senior secured notes, due 2014 at Caa1 (LGD 5, 87%)

                        Ratings Rationale

Should the going private transaction be consummated on terms and
conditions currently expected, and should a class action lawsuit
against Landry's be settled on terms that do not materially impact
the company, all ratings of LHI and Landry's would likely be
confirmed.

Proceeds from the $110 million secured notes will be used to
partly fund the acquisition of LRI by the Fertitta Group, Inc.
which is a wholly-owned subsidiary of LHI.  Since LHI has no
assets or operations of its own, it will rely heavily on its post
acquisition operating subsidiaries -- specifically Landry's
restaurant operations -- to provide the cash flows required to
service the LHI notes.  Prior to the closing of the going private
transaction, the notes are secured by the cash raised in the
offering.  Following the closure of the going private transaction,
the notes will be secured by the stock of Fertitta Group, Inc.
The notes will not be guaranteed by any of LRI's operating
subsidiaries.

Proceeds from the LHI notes will be placed into escrow until such
time as the going private transaction is consummated.  However, in
the event the going private transaction is not consummated before
December 31, 2010, the LHI notes will be repaid with the escrowed
funds.

The B2 Corporate Family Rating at LHI is based on the credit risk
profile of Landry's -- pro forma for the post-going-private
capital structure -- and reflects its high leverage and modest
coverage, as well as weak traffic trends within the US restaurant
industry.  However, the ratings also reflect Landry's adequate
liquidity, reasonable scale, and the solid brand value of its
various restaurant concepts.

The review for possible downgrade reflects the risk that the terms
of the going private transaction could change prior to closing, or
that the pending class action lawsuit could be settled in a manner
that places additional pressure on the company's already weak
credit profile.

The Caa1 rating on the LHI notes assumes that the going private
transaction is consummated, and reflects the notes' structural and
effective subordination to a substantial amount of liabilities at
Landry's and non-guarantor subsidiaries.

Factors that could result in a downgrade include a deterioration
in operating performance, debt protection metrics, or liquidity.
Specifically, a downgrade could occur if debt to EBITDA exceeded
6.0 times and EBITDA less capital expenditures coverage of
interest fell below 1.2 times on a sustained basis.

Given the pending acquisition and current review for downgrade,
upward ratings pressure is highly unlikely over the near term.
Over the longer term, ratings could be upgraded should the company
achieve and sustain debt to EBITDA below 4.5 times and EBITDA less
capital expenditures coverage of interest above 1.5 times.

Landry's Holdings, Inc., is a newly established holding company
which owns the Fertitta Group -- the legal entity which plans to
acquire Landry's Restaurants, Inc., in a leveraged buyout and take
the company private.  Landry's Restaurants, Inc. owns and operates
mostly casual dining restaurants under the trade names Landry's
Seafood House, Chart House, The Crab House, Saltgrass Steak House,
and Rainforest Cafe.  Landry's Restaurants, Inc. also owns and
operates the Golden Nugget hotel and casino in Las Vegas, Nevada.
Annual revenue is approximately $900 million.


LAWRENCE WILEY: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Lawrence McConneol Wiley
        aka L. M. Wiley
        aka Wiley's Welding
        dba Wiley Brothers
        4402 Wrens Hwy
        Thomson, GA 30824

Bankruptcy Case No.: 10-12007

Chapter 11 Petition Date: August 31, 2010

Court: United States Bankruptcy Court
       Southern District of Georgia (Augusta)

Judge: Susan D. Barrett

Debtor's Counsel: J. Benjamin Kay, III, Esq.
                  1111 Wachovia Bldg, 699 Broad St.
                  Augusta, GA 30901
                  Tel: (706) 722-2008
                  Fax: (706) 722-0832
                  E-mail: jbenkay@juno.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.


LESLIE CONTROLS: Court Schedules Oct. 12 Confirmation Hearing
-------------------------------------------------------------
The Honorable Christopher S. Sontchi will convene a hearing at
11:00 a.m. on Oct. 12, 2010, in Wilmington, Del., to consider
confirmation of the First Amended Plan of Reorganization proposed
by Leslie Controls, Inc., and its debtor-affiliates.  Judge
Sontchi put his stamp pf approval on the Debtors' First Amended
Disclosure Statement explaining that plan on Aug. 19, 2010.  A
trust created under 11 U.S.C. Sec. 524(g) to resolve asbestos-
related claims is a cornerstone of the Debtors' chapter 11 plan.
As reported in the Troubled Company Reporter on Aug. 23, 2010, the
plan faces opposition from Fireman's Fund Insurance Co.

All objections to the plan must be filed and served by 4:00 p.m.
on Sept. 27, 2010.  Copies of the Debtors' Plan, Disclosure
Statements and court-approved solicitation materials are available
at http://dm.epiq11.com/lesliecontrols/

                    About Leslie Controls

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

The Company sought Chapter 11 bankruptcy protection (Bankr. D.
Del. Case No. 10-12199) on July 12, 2010.  Marion M. Quirk, Esq.,
and Norman L. Pernick, Esq., at Cole, Schotz, Meisel, Forman &
Leonard, assist the Company in its restructuring effort.  Natalie
Ramsey, Esq., at Montgomery, McCracken, Walker & Rhodes, LLP,
represents the Asbestos Claimants Committee, and Edwin J. Heron,
Esq., at Young, Conaway, Stargatt & Taylor, LLP, represents the
Future Claimants' Representative.  William R. Hanlon, Esq., at
Goodwin Procter LLP advises CIRCOR International, Inc.  The
Company estimated its assets at $10 million to $50 million and its
debts at $50 million to $100 million at that the time of the
filing.


LESLIE EZIDORE: Case Summary & 5 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Leslie Andre Ezidore
        332 N. Doheney Drive
        Beverly Hills, CA 90211

Bankruptcy Case No.: 10-47330

Chapter 11 Petition Date: September 1, 2010

Court: U.S. Bankruptcy Court
       Central District of California (Los Angeles)

Debtor's Counsel: Steven Karlton Kop, Esq.
                  LAW OFFICES OF STEVEN KARLTON KOP
                  1880 Century Park E, Suite 820
                  Los Angeles, CA 90067
                  Tel: (310) 721-8557
                  Fax: (310) 496-2666
                  E-mail: bluejaylaw@gmail.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 five largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-47330.pdf


LIONS GATE: Moody's Changes Outlook on 'B2' Rating to Positive
--------------------------------------------------------------
Moody's Investors Service changed Lions Gate Entertainment Inc.'s
(B2 Corporate Family Rating) rating outlook to positive from
stable.  The rating outlook change is prompted by a combination of
recent debt reduction via the conversion of senior subordinated
notes to equity, better than expected operating performance, and
management's continuing focus on de-risking the balance sheet and
improving credit metrics further, in Moody's view.

While Moody's remains cautious regarding the inherent and
significant volatility of the theatrical production business and
the negative cash flow in recent years, the company's growing
investment in both film, and particularly the upfront investment
in television programming, is expected to generate improving
operating profits and free cash flow over the next few years.
Moody's believes that the improvement will come from a more
disciplined approach to film investments, some of its important
television content such as Mad Men entering syndication and EPIX
reaching profitability more quickly than initially planned.
Previously, Moody's expected that Lions Gate's leverage would be
more than 8.0x (with Moody's standard adjustments) at the end of
fiscal 2010 (3/31/10), declining to around 6.0x by the end of
fiscal 2012.  However, as the company exceeded revenue and EBITDA
projections for fiscal 2010, and debt ended the year about
$45 million lower than forecasted, leverage declined to under 5.0x
(with Moody's standard adjustments).  Moody's believes that
leverage will be volatile and may climb again to above 5.0x in the
near term despite the conversion of $100 million of convertible
senior subordinated debt into equity in the current quarter.
However recent film slate performances, the newly announced EPIX
deal with Netflix (reported to be at least $900 million over five
years), and the growing library of popular television content that
has yet to reach the lucrative syndication marketplace, all bode
well for the company's operating performance in Moody's view.
Investing activities were anticipated to cause the company to be a
net user of cash rather than generator through fiscal 2011.
However, in Moody's view, better than expected EBITDA generation
could result in free cash flow generation in fiscal 2011 which
could be used for further debt reduction.

Lions gate's B2 CFR reflects the inherent high risk and typical
low margins associated with the film and television production
businesses, and the weak performance of Lions Gate's film slate in
recent years.  The company has been growing its investment in both
film and television programming, which together with the weak
performance has resulted in several years of negative EBITDA and
negative free cash flow.  The rating further reflects Moody's
expectation that Lions Gate will return to profitability in fiscal
2011, along with management's focus on debt reduction, will result
in moderating leverage sustained comfortably under 6.0x.  The
company's rating is also supported by its significant perceived
asset value and Moody's reasonable confidence that profitability
will improve in the coming years.  This will be driven by
management's pursuing a disciplined film slate strategy focused on
niches that have proven profitable for the company in the past,
growth in TV program syndication revenues due to the popularity of
such shows as Weeds and Mad Men, and the increasing distribution
and profitability of EPIX premium cable channel.

Moody's would consider an upgrade if operating performance
continues to reflect current performance trends and the company
demonstrates an ability to generate sustainable positive free cash
flow while materially reducing absolute debt and trade liabilities
(in excess of cash) and maintaining debt-to-EBITDA leverage of
around 5.0x or less.  Sustainability depends upon increasing the
percentage of sustainable revenues and EBITDA as compared to the
volatile and more risky film segment.  Lions Gate would also have
to continue to prudently manage upcoming maturities, including
obligations that could be put back to the company, in order to
support higher ratings.

The company's ratings could be downgraded if operating performance
falls short of current expectations and the company does not turn
free cash flow positive in 2012 which in turn, would likely
pressure Lions Gate's liquidity position without access to capital
markets.  Additionally, downward pressure might occur if the
company engages in additional acquisitions that adversely impact
cash flow, leverage and/or liquidity.  Moody's recognizes the
uncertainty surrounding the ownership and governance of Lions Gate
given the latest $7.50 per share offer for the company by
shareholder activist, Carl Icahn.  A material change in the
direction of the company that does not balance the interests of
both equity and debt holders and that increases credit risk, could
cause a reversal of the positive outlook or put downward pressure
on the rating.

Lions Gate's ratings were assigned by evaluating factors that
Moody's considers relevant to the credit profile of the issuer,
such as the company's (i) business risk and competitive position
compared with others within the industry; (iii) capital structure
and financial risk; (iii) projected performance over the near to
intermediate term; and (iv) management's track record and
tolerance for risk.  Moody's compared these attributes against
other issuers both within and outside Lions Gate's core industry
and believes Lions Gate's ratings are comparable to those of other
issuers with similar credit risk.

Lions Gate Entertainment Corp., domiciled in British Columbia,
Canada (headquartered in Santa Monica, CA), is a motion picture
studio with a diversified presence in the production and
distribution of motion pictures, television programming, home
entertainment, family entertainment, video-on-demand and digitally
delivered content.  Revenues for the fiscal year ended March 31,
2010 were about $1.6 billion


LONE TREE: Plans to Sell Various Property to Pay Off Debts
----------------------------------------------------------
Lone Tree Investments LLC and its affiliates are seeking to sell
while in Chapter 11 various property to pay off about $25 million
in outstanding debt, according to azdailysun.com.

Lone Tree said it plans to sell three-family residences, five
condominiums, five townhomes, 20 bare lots zoned for townhomes,
80 unimproved residential lots as well as an additional 48
condominiums that will be constructed to pay off outstanding debt.

According to the report, a person with knowledge of the matter
said the Company has no current plans to cut any services or jobs
affected as a result of the bankruptcy filing.

The Company named Johnson Bank as its largest creditor in its
petition.  The bank refinanced various outstanding acquisition and
development loans for Pine Canyon in 2008.

                        About Lone Tree

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

Lone Tree Investments LLC and its six affiliates filed for Chapter
11 protection on August 24, 2010 in Phoenix (Bankr. D. Ariz. Lead
Case No. 10-26776).  John J. Hebert, Esq., at Polsinelli Shughart,
P.C., serves as counsel to the Debtors.  Lone Tree estimated
assets at $50 million to $100 million and debts at $10 million to
$50 million in its Chapter 11 petition.


MEDIACOM COMMUNICATIONS: S&P Affirms 'B+' Corporate Credit Rating
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its ratings
outlook on Middletown, N.Y.-based Mediacom Communications Corp. to
stable from negative.  At the same time, S&P affirmed its ratings
on the company, including the 'B+' corporate credit rating.

"The outlook revision reflects the announcement that Mediacom's
Chairman, CEO, and founder Rocco Commisso has withdrawn his offer
to purchase all of the shares of the company not currently owned
by him," explained Standard & Poor's credit analyst Naveen Sarma.
This take-private offer was initiated on May 31, 2010, and S&P
estimated that it would have resulted in debt to EBITDA (including
its adjustments) increasing to about 6.8x from 6.3x as of June 30,
2010.  The stable outlook does not incorporate a renewed take-
private offer.

"If Mr. Commisso were to return with a new offer, S&P could revise
the outlook to negative or even lower the rating," added Mr.
Sarma.


MILTON QUACH: Case Summary & 14 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Milton Quach
          dba EZ One Realty & Funding
          aka Minh K Quach
        13021 Monroe Street
        Garden Grove, CA 92844

Bankruptcy Case No.: 10-22386

Chapter 11 Petition Date: September 1, 2010

Court: U.S. Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Theodor Albert

Debtor's Counsel: Gary L. Harre, Esq.
                  3024 E. Anaheim Street
                  Long Beach, CA 90804
                  Tel: (562) 200-4701
                  Fax: (213) 928-7867

Scheduled Assets: $1,824,300

Scheduled Debts: $1,488,694

A list of the Debtor's 14 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-22386.pdf


MINOR FAMILY: Files for Ch. 11 to Resolve Suits Over Hotel Project
------------------------------------------------------------------
Dow Jones' DBR Small Cap reports that Minor Family Hotels LLC, the
owner of the stalled Landmark Hotel project in Charlottesville,
Va., has filed for Chapter 11 protection to resolve "burdensome"
lawsuits that have delayed the hotel's construction. Construction
on the Landmark Hotel, located in Charlottesville's historic
Downtown Mall, has been delayed because of litigation over the
project's funding.  Eight lawsuits have been filed in connection
with the project.

According to DBR, Minor Family, which listed assets and debts in
the $10 million to $50 million range, says the bankruptcy filing
will allow it to channel all of the litigation to the U.S.
Bankruptcy Court in Lynchburg, Va. "After 18 months and
significant costs, the company is no closer to resolving the
litigation surrounding this project," Chief Executive Halsey Minor
said in a statement, DBR says.


MINOR FAMILY: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Minor Family Hotels, LLC
          aka Landmark Hotel
        2800 Ridge Road
        Charlottesvile, VA 22901

Bankruptcy Case No.: 10-62543

Chapter 11 Petition Date: September 1, 2010

Court: U.S. Bankruptcy Court
       Western District of Virginia (Lynchburg)

Debtor's Counsel: Benjamin Webb King, Esq.
                  WOODS ROGERS HAZLEGROVE
                  P.O. Box 14125
                  Roanoke, VA 24038
                  Tel: (540) 983-7586
                  E-mail: wking@woodsrogers.com

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

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

The petition was signed by Halsey M. Minor, member.

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                      Nature of Claim   Claim Amount
        ------                      ---------------   ------------
DLA Piper LLP (US)                  Trade Debt          $3,047,361
550 South Hope Street, Suite 2300
Los Angeles, CA 90071-2631

Watt, Tieder, Hoffar & Fitzgerald   Trade Debt             $91,859
8405 Greensboro Drive
McLean, VA 22102-5104

Mark G. Anderson Consultants, Inc.  Trade Debt             $76,089
730 Eleventh Street NW, 4th Floor
Washington, DC 20001-4510

Boyken International                Trade Debt             $63,747

GHT Limited                         Trade Debt             $45,726

Verltext                            Trade Debt             $45,068

Evolve Discovery                    Trade Debt             $38,018

Sedgwick, Detert, Moran & Arnold    Trade Debt             $27,309
LLP

Huseby                              Trade Debt             $26,266

Equassure, Inc.                     Trade Debt             $24,040

Next Step Design, Inc.              Trade Debt             $22,723

EClaris                             Trade Debt             $21,536

LeClair Ryan                        Trade Debt             $14,851

Randy Burkett Lighting Design, Inc. Trade Debt              $9,650

NBJ Architecture                    Trade Debt              $8,900

Elemental Ideas & Design            --                      $7,636

Shen Milsom & Wilke, Inc.           Trade Debt              $6,375

CP Document Technology              Trade Debt              $5,942

Ohio Casualty                       Trade Debt              $4,369

Karyn Abbott                        Trade Debt              $4,143


MY PLACE: Voluntary Chapter 11 Case Summary
-------------------------------------------
Debtor: My Place Apts, Inc.
        P.O. Box 9811
        Panama City Beach, FL 32417

Bankruptcy Case No.: 10-50629

Chapter 11 Petition Date: August 31, 2010

Court: United States Bankruptcy Court
       Northern District of Florida (Panama City)

Debtor's Counsel: Robert N. Clarke, Jr., Esq.
                  AUSLEY & MCMULLEN, P.A.
                  P.O. Box 391
                  Tallahassee, FL 32301
                  Tel: (850) 224-9115

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 Mitch Dever, president.


NACO, INCORPORATED: Case Summary & 2 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: NACO, Incorporated, A Nevada Corporation
        2645 Crenshaw Boulevard
        Los Angeles, CA 90016
        Tel: (909) 984-2121

Bankruptcy Case No.: 10-47256

Chapter 11 Petition Date: September 1, 2010

Court: U.S. Bankruptcy Court
       Central District of California (Los Angeles)

Debtor's Counsel: Lotfy Mrich, Esq.
                  320 West G Street, Suite 207
                  Ontario, CA 91762
                  Tel: (909) 984-2121
                  Fax: (909) 984-1575
                  E-mail: lotfymrichesq@verizon.net

Estimated Assets: $0 to $50,000

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

A list of the Company's two largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-47256.pdf

The petition was signed by Vern Ellis, vice president.


NALCO CO: S&P Changes Outlook to Positive, Affirms 'BB-' Rating
---------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on Nalco
Co. to positive from stable.  At the same time, S&P affirmed its
'BB-' corporate credit rating on the company.

"The outlook revision reflects S&P's expectation that the company
will demonstrate a financial policy and operating performance that
could support improvement in credit metrics toward a level that is
appropriate for a higher rating," said Standard & Poor's credit
analyst Liley Mehta.  S&P anticipates that management will be
prudent in the manner in which it executes its plans for
acquisitions and growth-related expenditures, which are important
components of the company's strategy.  Specifically, S&P believes
that Nalco has the capacity to achieve a financial risk profile
with the key ratio of funds from operations to total debt
approaching 15%.

The rating on Naperville, Ill.-based Nalco Co., a subsidiary of
Nalco Holding Co., reflects a strong business risk profile and an
aggressive financial risk profile.  The company's business profile
benefits from Nalco's strong competitive position in water
treatment and process chemicals and its respectable operating
margins.  In addition, it has demonstrated its ability to generate
meaningful discretionary cash flows, which it has used in a
balanced fashion to support growth, shareholder distributions, and
debt reduction.

The company's strong business risk profile incorporates Nalco's
position as a global leader in providing raw water and wastewater
treatment, process improvement services, and chemicals and
equipment programs for offerings that are technology- and service-
intensive.  The company also benefits from good customer
diversity, with the largest customer representing 4% of sales.
Nalco's well-established, defensible business position underpins a
solid track record of operating profitability.  Even when key end
markets experience cyclical downturns, the company's results
exhibit a meaningful degree of stability, indicating the
resilience of the specialty chemicals and service business.

Further strengthening of credit measures are a prerequisite for an
upgrade, which S&P thinks is possible within the next 12 months
given its base case expectation for operating results in a still-
challenging economic environment.  S&P views total adjusted debt
to EBITDA of around 4.5x, and FFO to total adjusted debt
approaching 15% as appropriate credit metrics for a slightly
higher rating, under the expectation that the company can sustain
its progress.  Alternatively, S&P could also revise the outlook to
stable if its downside economic scenario came to pass resulting in
unexpectedly flat to declining volume trends and margin
compression.  In such a scenario, challenging operating conditions
would bring operating margins to the low-to-mid teens percent area
and result in a weakening of the ratio of FFO to total debt to
around 10% on a consistent basis.


NAVISTAR INT'L: To Report 3rd Quarter Results on September 8
------------------------------------------------------------
Navistar International Corporation said it will present via live
web cast its fiscal 2010 third quarter financial results on
Sept. 8, 2010.  Speakers on the web cast will include Daniel C.
Ustian, Chairman, President and Chief Executive Officer, A. J.
Cederoth, Executive Vice President and Chief Financial Officer,
and other Company leaders.

                     About Navistar International

Navistar International Corporation (NYSE: NAV) --
http://www.Navistar.com/-- is a holding company whose
subsidiaries and affiliates subsidiaries produce International(R)
brand commercial and military trucks, MaxxForce(R) brand diesel
engines, IC Bus(TM) brand school and commercial buses, Monaco RV
brands of recreational vehicles, and Workhorse(R) brand chassis
for motor homes and step vans.  It also is a private-label
designer and manufacturer of diesel engines for the pickup truck,
van and SUV markets.  The company also provides truck and diesel
engine parts and service.  Another affiliate offers financing
services.

At April 30, 2010, the Company had $8.94 billion in total assets,
$10.14 billion in total liabilities, and a stockholders' deficit
of $1.21 billion.

Navistar has a 'BB-' issuer default rating from Fitch Ratings.  In
March 2010, Fitch revised the outlook to "positive" from negative,
citing that the revisions "are driven by improvement
in the financial profile of NFC following the signing of an
operating agreement with GE Capital and by NAV's financial
performance in the past year."

Navistar carries a 'B1' long-term rating from Moody's Investors
Service.


NEWPAGE CORPORATION: Elects C. Galbato as Chairman of Board
-----------------------------------------------------------
NewPage Corporation elected Chan W. Galbato to the Board of
Directors of NewPage and its affiliates as chairman of the Board,
effective Aug. 25, 2010.

Mr. Galbato takes over the chairman role from Robert L.
Nardelli, who was elected chairman of the Board of NewPage and
its affiliates on June 11, 2010 and who will remain on the Board
as a director.  Mr. Nardelli, who also serves as chief executive
officer of Cerberus Operations and Advisory Company, LLC, an
affiliate of the majority owner of NewPage, said that, "Chan's
appointment as chairman marks the end of a three-month transition
during which the Board changed several top executives, including
the CEO, implemented aggressive cost-reduction actions, and
initiated efforts to improve customer service and profit margins.
With the recent appointment of George Martin as president and
chief executive officer, and now the addition of Chan as chairman,
we are confident that we have the right team in place to execute
our business plan."

Mr. Galbato is a senior operating executive of COAC and a director
of the Brady Corporation.  Prior to COAC, Mr. Galbato owned and
managed CWG Hillside Investments LLC, a consulting business
providing operational and strategic turnaround expertise to CEOs
of portfolio-based companies.  Before that, Mr. Galbato was
president and chief executive officer of the Controls Group of
businesses for Invensys plc.  He was president of Home Services as
well as president of the commercial distribution arm of companies
for The Home Depot.

In addition, Mr. Galbato served as president and chief executive
officer of Armstrong Floor products and chief executive officer of
Choice Parts LLC, a joint-venture auto parts locator and catalog
business.  Earlier in his career, Mr. Galbato spent 14 years with
General Electric Company, holding several leadership and finance
positions within their various industrial divisions, as well as
serving as president and chief executive officer, Coregis
Insurance Company, a G.E. Capital Company.

Mr. Galbato holds a master's degree in Business Administration
from the University of Chicago and a Bachelor of Arts in Economics
from the State University of New York.

                        About NewPage Corp.

Headquartered in Miamisburg, Ohio, NewPage Corporation --
http://www.NewPageCorp.com/-- is a coated paper manufacturer in
North America, based on production capacity, with $3.1 billion in
net sales for the year ended December 31, 2009.  The company's
product portfolio is the broadest in North America and includes
coated freesheet, coated groundwood, supercalendered, newsprint
and specialty papers.  These papers are used for corporate
collateral, commercial printing, magazines, catalogs, books,
coupons, inserts, newspapers, packaging applications and direct
mail advertising.

NewPage owns paper mills in Kentucky, Maine, Maryland, Michigan,
Minnesota, Wisconsin and Nova Scotia, Canada.  These mills have a
total annual production capacity of approximately 4.4 million tons
of paper, including approximately 3.2 million tons of coated
paper, approximately 1.0 million tons of uncoated paper and
approximately 200,000 tons of specialty paper.

                           *     *     *

NewPage carries a 'CCC-' long term foreign issuer credit rating
and a 'CCC+' long term local issuer credit rating from Standard &
Poor's.  It has 'Caa1' long term corporate family and probability
of default ratings from Moody's.


NORTEL NETWORKS: Disabled Employees Propose Rochon as Counsel
-------------------------------------------------------------
A group of former Nortel employees with long-term disability has
asked the Ontario Superior Court of Justice to appoint another
firm to serve as its legal counsel.

In a motion filed with the Canadian Court, the group asked for
the appointment of Rochon Genova LLP as its counsel, and Arlene
Borenstein or any other LTD employee as representative of the
group.

The LTD Employees are already represented by Koskie Minsky LLP,
which was appointed by the Canadian Court in 2009 to provide
legal assistance not only to the group but also to all former
employees of Nortel Networks Corporation.

Both employee groups receive payments for their benefits from the
Health and Welfare Trust, which was established by a 1980
agreement between Nortel's predecessor, Northern Telecom and
Montreal Trust Company.

Rochon Genova asserted that a separate representation is required
to ensure that the interests of the LTD beneficiaries are
protected.

"In representing multiple potential beneficiary groups of the
HWT, Koskie Minsky's ability to investigate competing claims of
entitlement to trust assets and to provide impartial legal advice
on the appropriate principles to apply to the disposition of the
Nortel HWT assets has been impaired and compromised," Rochon
Genova said in court papers.

Rochon Genova asserted that the interests of the LTD employees
conflict with those of the former employees as a result of the
"massive shortfall in the HWT."  The Firm pointed out that the
liability for the various health and welfare plans for both
groups is "substantially greater than the HWT assets."

The net asset of the HWT available for payment of the benefits
was approximately $123 million as of December 31, 2008, of which
about $37 million was allegedly improperly taken as a loan by
Nortel.

Subject to how the HWT assets are allocated, the shortfall as it
relates to the LTD employees may be as high as $100 million,
according to Rochon Genova.

In connection with the proposed appointment of Rochon Genova, the
LTD employees also asked the Canadian Court to authorize Nortel
to pay for the Firm's fees and expenses on a monthly basis and to
order full disclosure to the Firm of information related to the
HWT and plans funded by the trust.

                       About Nortel Networks

Nortel Networks (OTC BB: NRTLQ) -- http://www.nortel.com/--
delivers communications capabilities that make the promise of
Business Made Simple a reality for the Company's customers.  The
Company's next-generation technologies, for both service provider
and enterprise networks, support multimedia and business-critical
applications.  Nortel's technologies are designed to help
eliminate the barriers to efficiency, speed and performance by
simplifying networks and connecting people to the information they
need, when they need it.

Nortel Networks Corp., Nortel Networks Inc., and other affiliated
corporations in Canada sought insolvency protection under the
Companies' Creditors Arrangement Act in the Ontario Superior Court
of Justice (Commercial List).  Ernst & Young was appointed to
serve as monitor and foreign representative of the Canadian Nortel
Group.

The Monitor sought recognition of the CCAA Proceedings in the U.S.
by filing a bankruptcy petition under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10164).  Mary Caloway,
Esq., and Peter James Duhig, Esq., at Buchanan Ingersoll & Rooney
PC, in Wilmington, Delaware, serves as the Chapter 15 petitioner's
counsel.

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions on January 14, 2009 (Bankr. D. Del. Case No. 09-10138).
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.

Certain of Nortel's European subsidiaries also made consequential
filings for creditor protection.  The Nortel Companies related in
a press release that Nortel Networks UK Limited and certain
subsidiaries of the Nortel group incorporated in the EMEA region
have each obtained an administration order from the English High
Court of Justice under the Insolvency Act 1986.  The applications
were made by the EMEA Subsidiaries under the provisions of the
European Union's Council Regulation (EC) No. 1346/2000 on
Insolvency Proceedings and on the basis that each EMEA
Subsidiary's centre of main interests is in England.  Under the
terms of the orders, representatives of Ernst & Young LLP have
been appointed as administrators of each of the EMEA Companies and
will continue to manage the EMEA Companies and operate their
businesses under the jurisdiction of the English Court and in
accordance with the applicable provisions of the Insolvency Act.

Several entities, particularly, Nortel Government Solutions
Incorporated have material operations and are not part of the
bankruptcy proceedings.

As of September 30, 2008, Nortel Networks Corp. reported
consolidated assets of US$11.6 billion and consolidated
liabilities of US$11.8 billion.  The Nortel Companies' U.S.
businesses are primarily conducted through Nortel Networks Inc.,
which is the parent of majority of the U.S. Nortel Companies.  As
of September 30, 2008, NNI had assets of about US$9 billion and
liabilities of US$3.2 billion, which do not include NNI's
guarantee of some or all of the Nortel Companies' about
US$4.2 billion of unsecured public debt.

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


OBN HOLDINGS: Amends 10-K for Fiscal 2009, Posts $3.4MM Net Loss
----------------------------------------------------------------
OBN Holdings, Inc. filed on August 31, 2010, an amended annual
report on Form 10-K/A for the fiscal year ended June 30, 2009.

Tarvraran Askelson & Company LLP, in Laguna Niguel, Calif.,
expressed substantial doubt about the Company's ability to
continue as a going concern.  The independent auditors noted that
the Company has limited operating cash flows and does
not have sufficient working capital to fully fund its operations.

The Company reported a net loss of $3.4 million on $18.3 million
of revenue for fiscal 2009, compared to net income of $23,452 on
$2.0 million of revenue for fiscal 2008.

The Company's balance sheet at June 30, 2009, showed $7.7 million
in total assets, $3.7 million in total liabilities, and
stockholders' equity of $4.0 million.

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

               http://researcharchives.com/t/s?6aa6

Las Vegas, Nev.-based OBN Holdings, Inc., is a holding company
with operations in several industries, including the internet
broadcasting, television/film production, plastics recycling,
intelligent traffic systems the commodity import/export
industries.  The Company is internationally diversified with
subsidiaries in China, Japan and the United States.

The Company was incorporated in Nevada on January 21, 2003, as the
holding company for three wholly owned entertainment operating
subsidiaries: Omni Broadcasting Network, Eclectic Entertainment
and Products On Demand Channel.  In August 2003, the Company
acquired KSSY television, which is located in San Luis Obispo
County, California.


P&C POULTRY: Files for Chapter 11 in Los Angeles
------------------------------------------------
P&C Poultry Distributors Inc. and affiliate Custom Processors
Inc. filed Chapter 11 petitions (Bankr. C.D. Calif. Lead Case No.
10-46350) on Aug. 27 in Los Angeles, California.

Bill Rochelle, the bankruptcy columnist for Bloomberg news,
reported that P&C and Custom, processors of chicken meat for fast-
food chains, sought bankruptcy protection in the wake of declining
sales.  According to court documents, sales of $55.8 million in
2008 declined to $47.2 million in 2009.  In early 2010, revenue
declined further when the largest customer, Yum! Brands Inc.,
parent of KFC, previously known as Kentucky Fried Chicken, revised
its menu to serve more grilled rather than fried chicken.
Although sales rebounded later in 2010, chicken prices rose on
account of the heat wave.

According to Bloomberg, the largest supplier, Lawrence Wholesale,
sued to recover $12 million.  Although a settlement was
negotiated, the secured lender, East West Bank, didn't approve.
The bank is owed $5.5 million on a revolving credit and
$3.3 million on a term loan.  It has liens on all the assets.

The July 31 balance sheet listed assets of $16.5 million and total
liabilities of $27.7 million.


P&C POULTRY: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: P&C Poultry Distributors, Inc.
        1100 John Reed Court
        City of Industry, CA 91745

Bankruptcy Case No.: 10-46350

Chapter 11 Petition Date: August 27, 2010

Court: U.S. Bankruptcy Court
       Central District of California (Los Angeles)

Judge: Peter Carroll

Debtor's Counsel: Brian L. Davidoff, Esq.
                  1901 Avenue of the Stars, Suite 1700
                  Century City, CA 90067
                  Tel: (310) 286-1700
                  Fax: (310) 286-1728
                  E-mail: bdavidoff@rutterhobbs.com

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

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

Debtor-affiliate that filed separate Chapter 11 petition:

Company                         Case No.        Petition Date
-------                         --------        -------------
Custom Processors Inc.          10-_____          8/27/10

The petitions were signed by Michael Bennish, chief executive
officer.

P&C Poultry's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Lawrence Wholesale                 Trade               $11,767,621
P.O. Box 58307
Vernon, CA 90058

County Sanitation District         Utility              $1,622,996
No. 21 of Los Angeles County
221 North Figueroa Street, #1200
Los Angeles, CA 90012

Jenine Sefton                      Loan                   $500,000
12100 Olympic Boulevard, Suite 300
Los Angeles, CA 90064

Timberlake Foods, Inc.             Trade                  $297,748
P.O. Box 3101
Tupelo, MS 38803

Solomon, Ross, Grey & Co           CPA/Accounting         $174,804

Leyen Food                         Trade                  $159,960

Knight Refrigerated                Maintenance            $153,396

American Express                   Trade                  $116,383

Griffith Laboratories              Trade                  $109,762

Consolidated Packaging             Trade                   $93,593

Precision Refrigeration & Air      Maintenance             $84,770

Bearings & Drives                  Maintenance             $76,663

ARI Direct                         Commissions             $64,287

Sorenson Transport                 Trade                   $47,304

U.S. Growers Cold Storage          Trade                   $45,906

City of Industry Disposal          Sanitation              $45,028

Wieberg Corporation                Trade                   $41,812

CH Gunther & Son, Inc.             Trade                   $38,064

Southern California Edison         Utility                 $36,656

Unifirst                           Trade                   $35,831


PACIFIC SUN: Case Summary & 15 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Pacific Sun Entertainment Inc
        15801 Stagg Street
        Van Nuys, CA 91406

Bankruptcy Case No.: 10-20974

Chapter 11 Petition Date: September 1, 2010

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

Judge: Maureen Tighe

Debtor's Counsel: Thomas H. Schelly, Esq.
                  925 North Garey Avenue
                  Pomona, CA 91767-4617
                  Tel: (909) 622-4431

Scheduled Assets: $15,927

Scheduled Debts: $2,303,385

A list of the Company's 15 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-20974.pdf

The petition was signed by Saeed Bin Sardar, president.


PCS EDVENTURES!.COM: SEC Commences Civil Suit vs. Firm, 2 Execs.
----------------------------------------------------------------
PCS Edventures!.com Inc. on Aug. 27, 2010, obtained a copy of a
complaint filed by the U.S. Securities and Exchange Commission
commencing a civil lawsuit against PCS, its Chief Executive
Officer Anthony A. Maher, and its former Chief Financial Officer
Shannon Stith.

The suit, filed in the U.S. District Court for the District of
Idaho, pertains to a March 28, 2007, press release and related SEC
Report announcing that PCS had entered into a license agreement
with its Middle East distributor, Global Techniques, involving the
sale of PCS educational products and services in Saudi Arabia as
part of the King Abdullah Project for the Development of Public
Education.

The SEC alleges that the announcement, as well as subsequent
reports filed with the SEC, were false and misleading because
Global Techniques did not have the ability to pay the $7.15
million license fee without first obtaining a contract and
receiving funds from the Kingdom of Saudi Arabia, and that PCS
officers knew that Global Techniques did not have a contract with
Saudi Arabia.  According to the SEC, the announcement caused the
price and trading volume of PCS stock to be artificially inflated.
The SEC seeks a court order enjoining PCS, Maher and Stith from
committing future violations of federal securities laws, barring
Maher and Stith from serving as public company officers or
directors, and imposing civil penalties on PCS and the
individuals.

The allegations in the SEC complaint present a one-sided version
of the facts.  The objective evidence available to PCS at the time
of the March 2007 press release and related SEC report supported
the good faith belief of PCS and its management that the Saudi
education initiative had been approved and was moving forward with
PCS as a part of the program, and that PCS had a material contract
that needed to be disclosed:

  * PCS had spent years developing business relationships in Saudi
    Arabia through Global Techniques and had conducted several
    successful pilot programs in Saudi Arabia.

  * In December 2006, a senior official in the Saudi Ministry of
    Education endorsed the use of PCS products and recommended
    that the contract for PCS products move forward.

  * In February 2007, King Abdullah and his Counsel of Ministers
    announced that the $3 billion educational initiative had been
    approved and would start right away.

  * During March 2007, Global Techniques' Dr. Refai assured PCS
    that Global Techniques had the contract, advising PCS that
    deliveries of PCS products to Saudi Arabia would need to begin
    immediately and that funds would be received within a matter
    of weeks.

The SEC's charges are unfounded in fact or law.  PCS and Mr. Maher
intend to vigorously defend the SEC action.  The Company, in spite
of this claim, will continue to focus its efforts on domestic and
international business opportunities and key strategic objectives.

                    About PCS Edventures!.com

Boise, Idaho-based PCS Edventures!.com, Inc. (OTC BB: PCSV) --
http://www.edventures.com/-- is engaged in the design,
development and delivery of educational learning labs bundled with
related technologies and programs to the K-12 market worldwide.
The PCS suite of products ranges from hands-on learning labs in
technology-rich topics in Science, Technology, Engineering and
Math (STEM) to services rich in imagination, innovation, and
creativity.  PCS programs operate in over 6,000 sites in all 50
United States as well as in 17 countries internationally.

The Company's balance sheet as of June 30, 2010, showed
$1.64 million in total assets, $480,236 in total liabilities, and
a stockholders' equity of $1.16 million.

                          *     *     *

M&K CPAS PLLC expressed substantial doubt about the Company's
ability to continue as a going concern, following its fiscal 2010
results.  The firm noted that the Company has suffered reoccurring
losses and negative cash flow from operations.


PENHALL INTERNATIONAL: S&P Withdraws 'D' Issuer Credit Rating
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it has withdrawn its
ratings on Penhall International Corp. at the company's request.

S&P lowered its issuer credit rating to 'D' on Aug. 5, 2010,
following the company's decision to defer an interest payment due
Aug. 1, 2010.


PETER LONTAI: Case Summary & Largest Unsecured Creditor
-------------------------------------------------------
Joint Debtors: Peter Lontai
               Lisa Lontai
               2A Geiger Lane
               Warren, NJ 07059

Bankruptcy Case No.: 10-36903

Chapter 11 Petition Date: August 31, 2010

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

Judge: Michael B. Kaplan

Debtor's Counsel: Santo J. Bonanno, Esq.
                  SANTO BONANNO
                  1430 Route 23 North
                  Wayne, NJ 07470
                  Tel: (973) 686-9060
                  Fax: (973) 686-9062
                  E-mail: santobonanno@optonline.net

Scheduled Assets: $900,000

Scheduled Debts: $1,200,000

In its list of 20 largest unsecured creditors, the Joint Debtors
placed only one entry:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Town Bank                 Bank loan              $1,200,000
C/O Gregory Milne, Esq.
225 Broad Street
Red Bank, NJ 07701


PETROS ANDRIOPOULOS: Case Summary & 10 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Petros E. Andriopoulos
        2340 N. Farnsowrth Ave.
        Aurora, IL 60502

Bankruptcy Case No.: 10-39482

Chapter 11 Petition Date: September 1, 2010

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

Judge: A. Benjamin Goldgar

Debtor's Counsel: Michael J. Davis, Esq.
                  SPRINGER, BROWN, COVEY, GAETNER & DAVIS
                  400 S County Farm Road, Suite 330
                  Wheaton, IL 60187
                  Tel: (630) 510-0000
                  Fax: (630) 510-0004
                  E-mail: mdavis@springerbrown.com

Scheduled Assets: $19,803,050

Scheduled Debts: $12,500,854

Debtor's List of 10 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Kane County Treasurer     Property taxes         $40,000
719 S. Batavia Rd.
Geneva, IL 60134

Bank of America           Trade debt             $18,434
P.O. 851001
Dallas, TX 75285

Bank of America           Trade debt             $14,135
P.O. 851001
Dallas, TX 75285

Home Depot                Trade debt             $13,823

Sears                     Trade debt             $13,438

Chase Bank One            Trade debt             $12,568

Chase Bank One            Trade debt             $9,456

Kane County Treasurer                            $7,000

Gordon Foods              Personal Guaranty      Unknown

Sysco Foods               Personal Guaranty      Unknown
                          on purchases


PITCAIRN PROPERTIES: Files for Bankruptcy to Block Takeover Effort
------------------------------------------------------------------
Pitcairn Properties Holdings Inc. filed a voluntary petition for
Chapter 11 protection on September 1 (Bankr. D. Del. Case No. 10-
12764).

Christopher K. Hepp at The Philadelphia Inquirer reports that the
bankruptcy filing will allow Pitcairn to buy time to stave off a
takeover attempt by an investor.

The Company owes $7.56 million in dividends to an investment firm
that has sued for payment.  The firm, PPH Investments L.L.C.,
which owns 100% of the preferred stock in Pitcairn, is owned by
Eric L. Blum.  According to Philadelphia Inquirer, Mr. Blum,
through his firm, has $50 million invested in the Company.  In his
suit filed in the Delaware Court of Chancery, Mr. Blum contends
that his investment agreement gives him the right to appoint a
majority of the Company's board.

The Company has counter-sued, contending that Mr. Blum's demands
would unfairly wipe out other Pitcairn stockholders and force the
liquidation of $800 million in real estate at the worst possible
time, Mr. Hepp relates.

Dow Jones' DBR Small Cap reports that Pitcairn Properties said the
results would be "disastrous" if PPH, a unit of Philadelphia
investment management firm ELB Capital Management, exercised its
right to stack the Pitcairn Properties' board with new directors
that would carry out its bid to liquidate the company.

"If the preferred stockholder were to stack the board, friction,
dislocation and diminution in [Pitcairn's] value would likely
follow," the company warned Wednesday in court papers filed with
the U.S. Bankruptcy Court in Wilmington, Del., according to DBR.

The Company said in documents attached to the petition that its
board of directors has designated a special committee comprised of
James F. Junge, Salah A. Mekkawy and Robert, L. Roy, as chairman,
to conduct and oversee discussions with PPH Investments.

                     About Pitcairn Properties

Based in Jenkintown, Pennsylvania, Pitcairn Properties Holdings
Inc. -- http://www.pitcairnproperties.com/-- offers high-rise
offices, residences, and suburban office centers that are
distinctive, efficient, and accommodating.  PPH Investments LLC
owns 100% of the preferred stock.  Ventry Industries, MWS Group LP
and Regency Capital LLC own 100% of the common stock.

The Company estimated assets of $100 million to $500 million and
debts of $10 million to $50 million in its Chapter 11 petition.

James L. Patton, Esq., and Robert F. Poppiti, Jr., at Young
Conaway Stargatt & Taylor, LLP, serves as counsel.


PITCAIRN PROPERTIES: Case Summary & 6 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Pitcairn Properties Holdings, Inc.
        165 Township Line Road
        Jenkintown, PA 19046

Bankruptcy Case No.: 10-12764

Chapter 11 Petition Date: September 1, 2010

Court: U.S. Bankruptcy Court
       District of Delaware (Delaware)

Judge: Peter J. Walsh

Debtor's Counsel: James L. Patton, Esq.
                  Robert F. Poppiti, Jr., Esq.
                  YOUNG, CONAWAY, STARGATT & TAYLOR
                  The Brandywine Building
                  1000 West Street, 17th Floor
                  P.O. Box 391
                  Wilmington, DE 19899-0391
                  Tel: (302) 571-6684
                       (302) 571-6600
                  E-mail: bankfilings@ycst.com

Estimated Assets: $100,000,001 to $500,000,000

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

The petition was signed by Salah A. Mekkawy, chief executive
officer.

Debtor's List of six Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Wells Fargo Bank, N.A.             Letter of Credit,   $10,300,000
Broad Street                       Line of Credit
Philadelphia, PA

Daniel J. Maguire                  Note Payable           $415,002
608 W. Wayne Avenue
Wayne, PA 19087

Pitcairn Financial Group           Tax Preparation         $30,000
165 Township Line Road, Suite 3000 Fees
Jenkintown, PA 19046

Bank of America                    Guarantee                    NA

Anglo-Irish Bank Corporation       Guarantee                    NA
Limited

Morgan Stanley Mortgage Capital,   Guarantee                    NA
Inc.


PLC SYSTEMS: Incurs $199,000 Net Loss in June 30 Quarter
--------------------------------------------------------
PLC Systems Inc. filed its quarterly report on Form 10-Q,
reporting a net loss of $199,000 on $1.0 million of revenue for
the three months ended June 30, 2010, compared with a net loss of
$307,000 on $1.2 million of revenue of the same period of 2009.

During the six months ended June 30, 2010, the Company incurred a
net loss of $760,000 and used cash in operations of $1.1 million.
As of June 30, 2010, cash and cash equivalents were $1.5 million.
Management expects that quarterly losses and negative cash flows
will continue during 2010.

The Company's balance sheet at June 30, 2010, showed $3.8 million
in total assets, $2.3 million in current liabilities, $419,000 in
deferred revenue, and shareholders' equity of $1.1 million.

As reported in the Troubled Company Reporter on April 12, 2010,
Caturano and Company, P.C., in Boston, expressed substantial doubt
about the Company's ability to continue as a going concern,
following its 2009 results.  The independent auditors noted that
the Company has sustained recurring net losses and negative cash
flows from operations.

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

               http://researcharchives.com/t/s?6aa1

Franklin, Mass.-based PLC Systems Inc. (OTC BB: PLCSF)
-- http://www.plcmed.com/--is a medical device company
specializing in innovative technologies for the cardiac and
vascular markets.


POINT BLANK: To Give Creditors Access to Fin'l Data, Board Minutes
------------------------------------------------------------------
Dow Jones' DBR Small Cap reports that unsecured creditors and
Point Blank Solutions Inc. have struck a that injects more
transparency into the bankruptcy proceedings in response to the
creditors' call for an independent official to take the reins of
the case.

The committee representing unsecured creditors last month moved
for the appointment of an examiner or trustee to oversee the
company's restructuring.  The group said the role was necessary,
considering the company's "dark, complex and turbulent history,"
which includes charges of securities fraud against its former
chief executive.

According to DBR, negotiations between the company and its
unsecured creditors have now yielded a settlement that carves out
a broader role for the creditors in the proceedings, prompting the
committee to back down from its earlier request.  The deal gives
the committee's professionals continuing access to financial data
and minutes from board meetings.

The Troubled Company Reporter, citing a previous DBR report, said
August 26, 2010, the committee and the U.S. Trustee, which sought
similar relief, are wary of the Debtor's ties to Steel Partners II
LP, the provider of both Point Blank's pre-bankruptcy and post-
bankruptcy financing.  The TCR, citing Bloomberg News, reported
that the examiner motion said there is a need to learn whether
Steele Partners is operating in good faith.  Steele is providing a
$20 million loan for the Chapter 11 case on terms requiring a sale
or reorganization plan by September.

                          About Point Blank

Headquartered in Pompano Beach, Florida, Point Blank Solutions,
Inc. -- http://www.pointblanksolutionsinc.com/-- designs and
produces body armor systems for the U.S. Military, Government and
law enforcement agencies, well as select international markets.
The Company is recognized as the largest producer of soft body
armor in the U.S.  The Company maintains facilities in Pompano
Beach, Florida and Jacksboro, Tennessee.

Point Blank Solutions filed for Chapter 11 on April 14, 2010
(Bankr. D. Del. Case No. 10-11255).  Laura Davis Jones, Esq., and
Timothy P. Cairns, Esq., at Pachulski Stang Ziehl & Jones LLP
serve as bankruptcy counsel to the Debtor.  Olshan Grundman Frome
Rosenweig & Wolosky LLP serves as corporate counsel.  T. Scott
Avila of CRG Partners Group LLC is the restructuring officer.

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Equity Security
Holders in the case.  The Equity Committee has tapped Morrison
Cohen LLP, and The Bayard, P.A., as counsel.


PRICHARD, ALABAMA: Judge Dismisses Chapter 9 Bankruptcy Case
------------------------------------------------------------
al.com reports that a federal bankruptcy judge dismissed the
bankruptcy case of the city of Prichards because it was not
eligible for Chapter 9 protection under Alabama law.

The city filed for bankruptcy after retirees stopped receiving
pension checks.  The city had offered to pay pensioners $190,000
to divide, and then give them $200 a month for 10 years in a plan
to emerge from bankruptcy, according to the report.

                     About City of Prichard

The City of Prichard, Alabama, filed a Chapter 9 petition on Oct.
27, 2009 (Bankr. S.D. Ala. Case No. 09-15000).  R. Scott Williams,
Esq., at Haskell Slauther Young & Rediker LLC, serves as counsel
to the Debtor.  The Debtor estimated assets and debts both
exceeding $10 million in its Chapter 9 petition.

This was the second time in eight years the city of Prichard, a
suburb of Mobile, filed for municipal reorganization.
debt both exceed $10 million.

Prichard said it is having a "substantial under-funded pension
obligation."  Net revenue in fiscal 2009 was $10.1 million while
net operating expenses were $600,000 greater.  Prichard has a
population of 25,000.


PROFESSIONAL VETERINARY: Selling Assets at September 9 Auction
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Professional Veterinary Products Ltd. won approval
from the Bankruptcy Court to conduct an auction for substantially
all assets on Sept. 9.  Bids are due Sept. 7.  The hearing for
approval of the sale is set for Sept. 10.

Professional Veterinary Products Ltd. -- http://.pvpl.com/--
operates a veterinary supply company owned and managed by
veterinarians.  Includes company information, products, and an
online tour.

Professional Veterinary sought Chapter 11 protection from
creditors on August 20 in Omaha, Nebraska (Bankr. D. Neb. Case No.
10-82436). Closely held Professional Veterinary is a Nebraska-
based veterinary supply distributor.

Affiliates ProConn and Exact Logistics also filed for Chapter 11.

James J. Niemeier, Esq., Michael T. Eversden, Esq., Robert J.
Bothe, Esq., and Robert P. Diederich, Esq., at McGrath, North,
Mullin & Kratz, P.C., serve as bankruptcy counsel to the Debtors.
Alliance Management is the financial and restructuring advisors.

The Company's schedules showed $42.8 million in total assets
against $34.5 million in total liabilities, including $6.9 million
in secured debt, as of the Petition Date.


PROTOSTAR LTD: To Present Plan for Confirmation on Oct. 6
---------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that ProtoStar Ltd. will present its liquidating Chapter
11 plan for confirmation and seek approval of a related global
settlement at a hearing on October 6.

The bankruptcy court signed an order August 31 approving the
disclosure statement explaining the liquidating plan, allowing the
Debtor to solicit votes on the Plan.

Mr. Rochelle recounts that the Official Committee of Unsecured
Creditors sued secured lenders challenging the validity of their
liens.  The global settlement opened the door to approval of the
Disclosure Statement.  The settlement carves out some of the money
from asset sales for benefit of unsecured creditors.

Mr. Rochelle relates that according to the Disclosure Statement,
creditors of the ProtoStar I satellite are expected to recover 64%
on their claims totaling some $9.3 million.  Unsecured creditors
of the ProtoStar II satellite, with claims aggregating some $14.4
million, should see a recovery of about 29%.  Unsecured creditors
of the ProtoStar parent, with claims aggregating $5.7 million, are
in line to receive a 2% to 9% recovery.  Holders of 12.5% and 18%
secured notes, with liens on the ProtoStar I satellite, are to
have an 83% recovery on $200 million in claims.  Secured Credit
Suisse lenders, secured by the Protostar II satellite, are to have
a 66% dividend on claims aggregating $246 million.  The Protostar
I satellite was sold for $210 million to an affiliate of Intelstat
Holdings Ltd.  The ProtoStar II satellite went for $185 million
cash to an affiliate of SES SA.

                       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 US$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
US$463,000,000 against debts of US$528,000,000.


RADIO ONE: Extends Exchange Offer Until September 15
----------------------------------------------------
Radio One, Inc. further extended the expiration time of its
previously announced exchange offer for its 8-7/8% Senior
Subordinated Notes due 2011 and its 6-3/8% Senior Subordinated
Notes due 2013, and the related consent solicitation, to 5:00
p.m., New York City time, on September 15, 2010.

As of 5:00 p.m., New York City time, on August 30, 2010,
approximately 91.8% of the outstanding Existing Notes had been
validly tendered into the exchange offer and not withdrawn.  At
the previously scheduled expiration time, the conditions necessary
to consummate the exchange offer as set forth in the Company's
Exchange Offer and Consent Solicitation Statement and Offering
Memorandum, dated June 16, 2010, were not satisfied and, as a
result, the Company has determined to further extend the exchange
offer. The Company is in continuing discussions with
representatives of the ad hoc group of holders of a significant
portion of its Existing Notes relating to certain amendments to
the terms of the exchange offer and the related exchange notes,
including the conditions to the exchange offer, and with its
lenders under its existing senior secured credit facility relating
to an amendment thereto.  The Company would need to reach
agreements with both groups to proceed with an amended exchange
offer.

Except as set forth, the terms of the exchange offer and related
consent solicitation and subscription offer remain the same as set
forth in the Offering Memorandum and the related offering
materials previously distributed to eligible holders.

BNY Mellon Shareowner Services is acting as exchange agent,
information agent and subscription agent and may be contacted at
(800) 777-3674 or (201) 680-6579.

The new securities issued pursuant to the exchange offer have not
been registered under the Securities Act or any state securities
laws. Therefore, the new securities may not be offered or sold in
the United States absent registration or an applicable exemption
from the registration requirements of the Securities Act and any
applicable state securities laws.

                         About Radio One

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

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

Ernst & Young LLP, in Baltimore, Maryland, expressed substantial
doubt about the Company's ability to continue as a going concern
in its report on the Company's restated consolidated financial
statements for 2009.  The independent auditors noted that in June
and July 2010 the Company violated certain covenants of its loan
agreements, which ultimately may result in significant amounts of
outstanding debt becoming callable by lenders.


READ-RITE CORP: Hitachi Has No Binding Patent Deal With Firm
------------------------------------------------------------
Bankruptcy Law360 reports that a federal appeals court has backed
a lower court's finding that Hitachi Ltd. did not have a binding
patent licensing agreement related to hard-disk drives with Read-
Rite Corp. and that the electronics maker waited too long to try
to preserve its rights.  The U.S. Court of Appeals for the Ninth
Circuit on Tuesday agreed with a district court's affirmation of a
bankruptcy court's judgment that found in favor of Western Digital
Corp., Law360 says.

Headquartered in Fremont, California, Read-Rite Corp. filed for
chapter 7 liquidation on June 17, 2003 (Bankr. N.D. Calif. Case
No. 03-43576).  Katherine D. Ray, Esq., at Goldberg, Stinnett,
Meyers and Davis represented the Debtor.  Tevis T. Thompson, Jr.,
is the appointed Chapter 7 Trustee of the Debtor.  Jeremy W. Katz,
Esq., and Matthew J. Shier, Esq., at Pinnacle Law Group represent
the Chapter 7 Trustee.


REGAL PLAZA: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Regal Plaza, LLC
        5025 S. Jones Boulevard, Suite 135
        Las Vegas, NV 89118

Bankruptcy Case No.: 10-26707

Chapter 11 Petition Date: September 1, 2010

Court: U.S. Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Linda B. Riegle

Debtor's Counsel: Lenard E. Schwartzer, Esq.
                  SCHWARTZER & MCPHERSON LAW FIRM
                  2850 S. Jones Boulevard, Suite 1
                  Las Vegas, NV 89146
                  Tel: (702) 228-7590
                  Fax: (702) 892-0122
                  E-mail: bkfilings@s-mlaw.com

Scheduled Assets: $10,815,564

Scheduled Debts: $8,592,879

The petition was signed by John Carnesale, manager of Delta Point
LLC, manager.

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Taylor Consultants LLC             --                     $456,211
5052 S. Jones Boulevard, #135
Las Vegas, NV 89118

Nevada Underground LLC             --                     $327,311
3942 Octagon Road
North Las Vegas, NV 89030

Tower Realty & Development LLC     --                     $172,293
5052 S. Jones Boulevard, #135
Las Vegas, NV 89118

Critical Path                      --                      $86,172

Ron Wolfe                          --                      $75,000

NV Energy                          --                       $4,673

Checks & Balances Inc              --                       $2,756

Republic Services Inc              --                       $2,753

City of LV Dept Finance            --                       $2,013
Business Services Div.

Calply                             --                       $2,011

Renegade Electric                  --                       $2,000

Harmony Fire Protection Inc        --                       $1,990

Silver Lands Inc                   --                       $1,770

Sonitx                             --                       $1,750

Sklar Williams LLP                 --                       $1,625

City of Las Vegas (Sewer)         --                       $1,593
Finance Department

Reno Jones LLC                    --                       $1,273

D & R Hydrant                     --                       $1,200

Las Vegas Valley Water District   --                       $1,050

Century Link                      --                         $685


RESERVE DEVELOPMENT: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: The Reserve Development LLC
        5250 S. Rainbow Boulevard
        Las Vegas, NV 89118

Bankruptcy Case No.: 10-26715

Chapter 11 Petition Date: September 1, 2010

Court: U.S. Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Linda B. Riegle

Debtor's Counsel: Laurel E. Davis, Esq.
                  FENNEMORE CRAIG, P.C.
                  300 S. FOURTH STREET, #1400
                  LAS VEGAS, NV 89101
                  Tel: (702) 692-8000
                  Fax: (702) 692-8099
                  E-mail: ldavis@fclaw.com

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

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

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

The petition was signed by David O. Kingston, president of Spanish
Trail SPE I, Inc., manager.


RIVER ROAD: Loses Plan Filing Exclusivity
-----------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that River Road Hotel Partners LLC no longer has the
exclusive right to propose a Chapter 11 plan.  Secured
construction lender Longview Ultra Construction Loan Investment
Fund, owed $161 million, asked the Court to terminate the plan
filing exclusivity on Aug. 30.

According to Mr. Rochelle, at the hearing where it lost
exclusivity, River Road was hoping the judge would approve bidding
procedures for a sale of the property that Longview was opposing.
Before a deadline in June, River Road filed a motion to set up
auction procedures where the first bid of $42 million would come
from an affiliate of Och-Ziff Real Estate Acquisitions LP.

                       About River Road

River Road Hotel Partners LLC is the owner of the InterContinental
Chicago O'Hare airport hotel.  Affiliate RadLAX Gateway Hotel LLC
owns the Radisson hotel at Los Angeles International Airport.
Both are ultimately controlled owned by Harp Group.

River Road and RadLAX filed Chapter 11 in Chicago on August 17,
2009 (Bankr. N.D. Ill. Lead Case No. 09-30029).  Based in Oak
Brook, Illinois, River Road estimated assets of as much as $100
million and debt of as much as $500 million in its Chapter 11
petition.  RadLAX (Bankr. N.D. Ill. Case No 09-30047) estimated
assets at $50 million to $100 million.

David M. Neff, Esq., at Perkins Coie LLP, serves as counsel to the
Debtors.


ROSALVA LUNA: Case Summary & 19 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: Rosalva Luna
                 aka Rosalva Luna-Nunez
               Eddie H. Nunez
               432 Carson Lane
               Norco, CA 92860

Bankruptcy Case No.: 10-38322

Chapter 11 Petition Date: September 1, 2010

Court: U.S. Bankruptcy Court
       Central District of California (Riverside)

Judge: Deborah J. Saltzman

Debtors' Counsel: Wade C. Johnson, Esq.
                  555 E. Ocean Boulevard, Suite 430
                  Long Beach, CA 90802
                  Tel: (562) 435-2422
                  Fax: (562) 435-0113
                  E-mail: info@wadecjohnson.com

Estimated Assets: $1,323,859

Estimated Debts: $1,532,456

A list of the Joint Debtors' 19 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-38322.pdf


ROSECROFT RACEWAY: Trustee Wants Case Converted to Chapter 7
------------------------------------------------------------
Hanah Cho at the Baltimore Sun reports that a trustee asked a
federal bankruptcy court to convert the Chapter 11 case of
Rosecroft Raceway to Chapter 7 liquidation proceeding, arguing
that the Company continues to lose money and there is no
likelihood of reorganization.  A hearing is set for Oct 7, 2010.

Rosecroft Raceway filed for bankruptcy protection in June 2009 and
shut down in July after it run out of money.


SEA ISLAND: Polo Ralph Lauren Seeks Return of Golf Items
--------------------------------------------------------
Polo Ralph Lauren is seeking to compel Sea Island Co. to return
thousands of dollars worth of golf attire.

Rachel Feintzeig at Dow Jones Newswires reports that in a letter
sent to Sea Island earlier this month, emblazoned with the brand's
iconic polo player, Polo Ralph Lauren demanded the resort send
back hundreds of items, memorialized on 31 pages of invoices.
According to Dow Jones, the invoices display totals ranging from a
couple hundred dollars up to $25,153, but Polo Ralph Lauren says
it never got the money.

"No part of the purchase price of the goods has been paid to the
seller," Kenneth I. Cruz, the Polo Ralph Lauren Senior Director of
Credit, wrote in the letter, according to Dow Jones.  "The seller
has learned that the debtor received the goods on credit while the
debtor was insolvent," he added, noting that the goods arrived
within 45 days of the resort's Aug. 10 bankruptcy filing.

According to Dow Jones, reached by phone on Tuesday, Mr. Cruz
declined to elaborate on the letter, only noting that the
merchandise was "golf products."  He referred questions to his
company's attorney, who didn't return a call seeking comment
Tuesday.

                         About Sea Island

St. Simons Island, Georgia-based Sea Island Company --
http://www.seaisland.com/-- aka Sea Island Shooting School, Sea
Island Yacht Club, Sea Island Stables, and Cabin Bluff, is a
private resort and real estate development company founded in
1926.  Sea Island Company owns and operates Sea Island Resorts,
featuring two of the world's most exceptional destinations: the
Forbes Five-Star Cloister at Sea Island and The Lodge at Sea
Island.  Sea Island is filing a Chapter 11 plan based upon an
agreement to sell substantially all of its assets to Sea Island
Acquisition LP, a limited partnership formed by investment funds
managed by the global investment firms Oaktree Capital Management,
L.P., and Avenue Capital Group.

Sea Island filed for Chapter 11 protection on August 10, 2010
(Bankr. S.D. Ga. Case No. 10-21034).  Sarah R. Borders, Esq.;
Harris Winsberg, Esq.; Sarah L. Taub, Esq.; and Jeffrey R. Dutson,
Esq., at King & Spalding LLP, assists the Debtor in its
restructuring effort.  Robert M. Cunningham, Esq., at Gilbert,
Harrell, Sumerford & Martin PC, is the Debtor's co-counsel.  FTI
Consulting, Inc., is the Debtor's restructuring advisor.  EPIQ
Bankruptcy Solutions, LLC, is the Debtor's claims and notice
agent.  The Debtor estimated its assets and debts at $500 million
to $1 billion as of the Petition Date.

Affiliates Sea Island Coastal Properties, LLC; Sea Island
Services, Inc.; Sea Island Resort Residences, LLC; Sea Island
Apparel, LLC; First Sea Island, LLC; and Sical, LLC, filed
separate Chapter 11 petitions on August 10, 2010.


SELIM AMERICA: Section 341(a) Meeting Scheduled for Oct. 21
-----------------------------------------------------------
The U.S. Trustee for Region 16 will convene a meeting of Selim
America Inc.'s creditors on October 21, 2010, at 11:00 a.m.  The
meeting will be held at Room 2610, 725 S Figueroa St., Los
Angeles, CA 90017.

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.

Los Angeles, California-based Selim America Inc., a New York
corporation, filed for Chapter 11 protection on August 23, 2010
(Bankr. C.D. Calif. Case No. 10-45503).  Monica Y. Kim, Esq., who
has an office in Los Angeles, California, assists the Debtor in
its restructuring effort.  The Debtor estimated its assets at
$10 million to $50 million and debts at $50 million to
$100 million.


SELIM AMERICA: Asks for 30-Day Extension for Filing of Schedules
----------------------------------------------------------------
Selim America, Inc., asks the U.S. Bankruptcy Court for the
Central District of California to extend until October 7, 2010,
the deadline for the filing of schedules of assets and
liabilities, statement of financial affairs, and other documents.

The schedules, statement and documents are currently due on
September 7, 2010.  The Debtor needs an extension of 30 days to
file the schedules, statement and documents, as it must first
attend to its business affairs.  As of the Petition Date, the
Debtor's inventory was in the possession of several third party
logistics and warehouse service providers.  The Debtor is also
very busy responding to inquiries by its suppliers, vendors,
customers, creditors and parties in interest, and complying with
all of the administrative requirements of the Office of the United
States Trustee and the Court.

Los Angeles, California-based Selim America Inc., a New York
corporation, filed for Chapter 11 protection on August 23, 2010
(Bankr. C.D. Calif. Case No. 10-45503).  Monica Y. Kim, Esq., at
Levene, Neale, Bender, Yoo & Brill L.L.P., in Los Angeles,
California, assists the Debtor in its restructuring effort.  The
Debtor estimated its assets at $10 million to $50 million and
debts at $50 million to $100 million.


SELIM AMERICA: Taps Levene Neale as Bankruptcy Counsel
------------------------------------------------------
Selim America, 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.

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 represent 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/or cash collateral
        including, but not limited to, negotiating and seeking
        Court approval of any debtor in possession financing
        and cash collateral pleading or stipulation and prepare
        any pleadings relating to obtaining use of debtor in
        possession financing and/or 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

Monica Y. Kim, Esq., a partner at LNBYB, assures the Court that
the firm is "disinterested" as that term is defined in Section
101(14) of the Bankruptcy Code.

Los Angeles, California-based Selim America Inc., a New York
corporation, is engaged in the business of importing a variety of
textile goods from abroad for resale within the United States.  It
filed for Chapter 11 protection on August 23, 2010 (Bankr. C.D.
Calif. Case No. 10-45503).  The Debtor estimated its assets at
$10 million to $50 million and debts at $50 million to
$100 million.


SITEL WORLDWIDE: S&P Gives Negative Outlook; Affirms 'B' Rating
---------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its outlook on
Nashville-based outsourced customer care services provider Sitel
Worldwide Corp. to negative from positive.  At the same time, S&P
affirmed the 'B' corporate credit rating on the company, raised
the issue-level rating on the senior secured facility to 'B+' from
'B', and revised the recovery rating to '2' from '3'.

"The outlook revision reflects the company's greater-than-expected
decline in revenues and profitability, and an associated increase
in leverage and reduced covenant cushion," said Standard & Poor's
credit analyst Joseph Spence.

"S&P expects reduced consumer demand to lead to further revenue
and EBITDA attrition, at least through the September 2010
quarter," added Mr. Spence.  As a result, financial metrics are
under near-term pressure.

Sitel is an upper midtier provider of outsourced customer care
services to a broad array of end markets globally.  A high degree
of fragmentation, competitiveness, and typically positive
correlation to global economic conditions characterize the
industry.  As a result, S&P views Sitel's business risk as
"vulnerable."


SMART & FINAL: Moody's Assigns 'Caa2' Rating on $150.2 Mil. Loan
----------------------------------------------------------------
Moody's Investors Service has assigned a rating of Caa2 (LGD 5,
82%) to the $150.2 million (original amount) Tranche B-2 2nd lien
term loan of Smart & Final Holdings Corp. and its subsidiary
borrowers.  Moody's also affirmed Smart & Final's B3 Corporate
Family Rating and its other existing debt ratings.  The rating
outlook remains stable.

These ratings were affirmed and points estimates adjusted:

* Corporate Family Rating of B3;

* Probability of Default Rating of B3

* $150 million Asset-Based Revolving Credit Facility rated Ba2
  (LGD 2, 15% from LGD, 17%)

* $388 million First Lien Term Loan maturing May 2014 at B3 (LGD
  3, 49%)

* $2.1 million Second Lien Term Loan maturing November 2014 at
  Caa2 (LGD 5, 82%, from LGD 5 83%)

Rating Rationale:

The Tranche B-2 loan represents an amendment and extension of the
company's previous 2nd lien term loan, which was divided into the
B-1 tranche maturing in November 2014, and the B-2 Tranche
maturing November 2016.  The rating of both tranches is Caa2,
reflecting their junior position in the capital structure to the
asset based revolving credit facility and the first lien term
loan.  The loans benefit from a second lien on the company's fixed
assets and a third lien on the current assets.

Smart & Final's Corporate Family and debt ratings reflect weak
credit metrics and high funded debt levels, geographic
concentration, and Moody's expectation that its geographic and
demographic markets will remain challenged in the near future.
The ratings also recognize the cost and potential benefits of the
company's diversification efforts, the financial flexibility
provided by its debt structure, and the opportunity in directing
services to a potentially underserved market niche.  The ratings
of its other secured facilities reflect the benefit of collateral
and the relative benefit which each security receives from its
differing rights to collateral.

Smart & Final's rating outlook is stable, reflecting Moody's
belief that Smart & Final has adequate liquidity support to
sustain its operations within a challenging environment, and that
revenue growth and credit metrics are expected to remain at levels
appropriate to the B3 rating.  The stable outlook also assumes the
company will address its CMBS refinancing need well in advance of
the May 2012 maturity.

Ratings could be upgraded should the company demonstrate
improvements in profitability and operating margins while
maintaining adequate liquidity, reducing debt, and extending
maturities.  Quantitatively, an upgrade could be achieved if debt
to EBITDA can be sustained below 6.0 times and EBITA to interest
in excess of 1.25 times.

Ratings could be downgraded if the company's consolidated EBITA to
interest falls below 1.0 times, or if it is unable to reduce its
absolute debt burden or increase operating profits within the next
18 months.  Ratings could also be downgraded if the company's
liquidity weakens, or if Moody's believes Smart & Final may have
difficulty re-financing the May 2012 maturity of its CMBS on terms
that will not weaken the company's credit profile.

Smart & Final Holdings Corp, headquartered in Commerce,
California, operates 294 stores serving retail and commercial
customers in multiple formats.  These include 252 non-membership
warehouse stores and value supermarkets for retail and wholesale
customers operating primarily in the western U.S. and northern
Mexico.  Under the "Henry's Farmers Markets" and "Sun Harvest
Markets" banners the company operates 42 farmers market-style
stores emphasizing natural and organic products in Southern
California and Texas.  Smart & Final is privately held by an
affiliate of Apollo Management.


SOUTH TEXAS OIL: Lienholders' Intervention Motions Denied
---------------------------------------------------------
WestLaw reports that lienholders that, despite having notice of
the debtors' Chapter 11 filing and of its potential impact on
their liens, did not file a complaint for a determination of their
lien rights vis-a-vis creditors that provided debtors with
postpetition financing prior to the expiration of the deadline
specified in the debtor-in-possession financing order, would not
be allowed, after this deadline expired, to belatedly intervene in
a lien priority dispute timely commenced by other similarly
situated creditors.  The lienholders did not articulate a reason
why they could not have moved to intervene or commenced their own
separate proceeding before the deadline expired.  Granting their
belated motion to intervene would upset rights for which creditors
had bargained in agreeing to provide DIP financing, which included
a bar date for lien priority challenges.  In re South Texas Oil
Co., --- B.R. ----, 2010 WL 3211685 (Bankr. W.D. Tex.) (Clark,
J.).

Baker Hughes Oilfield Operations, Inc., and Schlumberger
Technology Corporation sued (Bankr. W.D. Tex. Adv. Pro. No. 10-
05012) Summerline Asset Management, LLC; Longview Marquis Master
Fund, L.P.; Summerview Marquis Fund, L.P.; and STO Operations
Company, inter alia, a declaration that Summerline Asset
Management, LLC's liens are invalid and that the plaintiffs have a
first-priority lien on certain joint-interest billings owed to STO
Operating Company.  Summerline Asset Management, LLC is the agent
for Longview Marquis Master Fund, L.P., and Summerview Marquis
Fund, L.P.  Smith International, Inc., and Wood Group Logging
Services, Inc., saying they're similarly situated and hope to be
the beneficiaries of any ruling favorable to the plaintiffs,
sought to intervene in the adversary proceeding.  TNT Crane &
Rigging, Inc., also moved to intervene.  The Honorable Leif M.
Clark denied all of the intervention requests.

A full-text copy of Judge Clark's decision is available at:

http://www.leagle.com/unsecure/page.htm?shortname=inbco20100811637
http://www.leagle.com/unsecure/page.htm?shortname=inbco20100811637

San Antonio, Texas-based South Texas Oil Company is an independent
energy company engaged in the acquisition, production, exploration
and development of crude oil and natural gas.  Its core operating
areas include Texas, Louisiana and the Gulf Coast. Longview Fund
LP owns 42.5% of South Texas, and Doub Oil & Gas Co. LLC is a
14.5% shareholder.

South Texas Oil Company and a number of related entities filed
voluntary chapter 11 petitions (Bankr. W.D. Tex. Case No. 09-
54233) on Oct. 29, 2009.  These voluntary filings followed the
delivery of an involuntary chapter 7 petition (Bankr. W.D. Tex.
Case No. 09-_____) to the Bankruptcy Clerk in Austin, Tex.,
against STO Operating Company on Oct. 20, 2009.  Ronald
Hornberger, Esq., at Plunkeet & Gibson, Inc., in San Antonio,
Tex., represents the Debtors in their restructuring effort.  The
Debtors disclosed assets of $49.1 million and liabilities totaling
$27.9 million (including $17.3 million in secured claims) as of
the petition date.


SOUTHERN UNION: Fitch Affirms 'BB' Jr. Subordinated Rating
----------------------------------------------------------
Fitch Ratings has affirmed the ratings of Southern Union Company
and Panhandle Eastern Pipe Line Company, LP:

Southern Union Company

  -- Issuer Default Rating at 'BBB-';
  -- First mortgage bonds at 'BBB';
  -- Senior unsecured at 'BBB-';
  -- Junior subordinated at 'BB'.

Panhandle Eastern Pipe Line Company

  -- IDR at 'BBB-';
  -- Senior unsecured at 'BBB-';

The Rating Outlook for both issuers is Stable.  The rating action
affects $2.4 billion of rated long-term debt.  Following
redemption of the preferred securities in July, those ratings have
been withdrawn.

Key drivers of SUG's ratings are the stable performance of the
company's regulated businesses which include significant Federal
Energy Regulatory Commission-regulated pipeline transportation and
storage assets, as well as, Missouri and Massachusetts regulated
gas distribution businesses.  SUG's pipeline assets include PEPL,
Trunkline LNG (contractually supported by contracts with BG LNG
Services), and an indirect 50% interest in Florida Gas
Transmission.  The ratings also consider the volatility associated
with the gathering and processing business, which represents
significant commodity risk, despite an active hedging program.
While the performance of this business is expected to remain
volatile, given the downward draft of gas prices, 2009 can be
considered a 'stress' year, and further downside risk to prices or
volumes is deemed unlikely.  In addition, forecast realized
natural gas prices are within the range of Fitch's published
energy price deck.  Despite the effects of this business line and
the lag effect of significant regulated pipeline investments,
financial metrics should remain within the range for a 'BBB-'
rating, albeit on the weaker side.

While PEPL's standalone credit profile is supported by stable
FERC-regulated pipeline operations, LNG facilities under long-term
contracts, and the structural seniority of its debt obligations to
those at SUG, its ratings reflect the clear linkage between the
parent and subsidiary.  In addition to PEPL's participation in
SUG's cash management program and the importance of PEPL's future
cash flows to SUG, the propensity to use inter-company notes to
finance activities outside of PEPL reinforces this relationship.
A reduction of inter-company borrowings may permit Fitch to
evaluate the PEPL credit on more of a stand-alone basis, although
this is not considered likely.

The Stable Outlook for both SUG and PEPL reflects the expectation
that SUG's credit profile and operating characteristics are
expected to improve in the near term as the $440 million Trunkline
LNG Infrastructure Enhancement Project came online in 2010 and
longer term once dividends from FGT are restored pending
completion of its Phase 8 expansion project.  Credit ratios have
been and are expected to continue to be pressured by these
projects although this will be moderating through 2010 and more
meaningfully in 2011.  The $2.4 billion expansion project at FGT
is ongoing with the bulk of SUG's $200 million to $300 million
equity contribution expected in the fourth quarter of 2010 and the
first quarter of 2011.  Dividends will continue to be trapped
until the project is in service, currently expected in spring
2011.  Operating Earnings Before Interest Taxes Depreciation and
Amortization to interest is expected to improve to 3.3 times in
2010 from 2.7x in 2009 while debt to EBITDA decreases to 4.6x from
5.4x.  In its ratio calculations Fitch assigns 75% equity credit
to SUG's $600 million junior subordinated notes.  Ratios at PEPL
are also expected to improve due to cash flows from the Trunkline
LNG expansion with EBITDA interest coverage increasing to 4.5x in
2010 from just under 4x in 2009.

While positive rating action is considered unlikely given that the
current ratings anticipate some strengthening of financial metrics
following completion of the FGT Phase 8 expansion project, several
factors could lead to negative rating action.  The most likely
driver of negative rating action would be event driven, such as a
material change in business strategy, particularly one that
increases the risk profile by reducing the proportion of regulated
cash flows.  Other factors that could lead to a negative rating
action include significant additional funding to support expansion
at FGT (beyond the range forecast by Fitch), an adverse change in
regulatory environment in Missouri, Massachusetts, or at the
Federal level, or inability to hedge midstream operations in
continued depressed commodity price environment.

Headquartered in Houston, SUG is a diversified natural gas company
with operations in the transportation, storage, gathering,
processing and distribution of natural gas.  Its businesses
include Panhandle Energy, Southern Union Gas Services, Missouri
Gas Energy, New England Gas Company, and its JV interest in
Citrus, which owns Florida Gas Transmission LLC.  Panhandle's
operations include Panhandle Eastern Pipe Line, Trunkline LNG,
Trunkline Gas Company, Sea Robin Pipeline, and Southwest Gas
Storage.  These businesses operate approximately 15,000 miles of
interstate pipelines that transport natural gas from the Anadarko
and San Juan Basins, the Rockies, the Gulf of Mexico, Mobile Bay
and South Texas to major markets in the Southeast, Midwest and
Great Lakes region, as well as one of North America's largest LNG
import terminals.  Southern Union Gas Services primarily consists
midstream operations in the Permian basin in Texas and New Mexico,
including 4,800 miles of pipeline.  The gas local distribution
companies serve more than half a million natural gas end-user
customers in Missouri and Massachusetts.

The sources of information used to assess these ratings included
information from the issuer, including financial statements and
regulatory filings, as well as information compiled by Fitch in
accordance with published criteria.


STEVE HUTTER: Case Summary & 11 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Steve R. Hutter
        1232 Southgate Drive
        Pittsburgh, PA 15241

Bankruptcy Case No.: 10-26190

Chapter 11 Petition Date: August 31, 2010

Court: United States Bankruptcy Court
       Western District of Pennsylvania (Pittsburgh)

Debtor's Counsel: James A. Prostko, Esq.
                  PROSTKO & SANTILLAN, LLC
                  650 Corporation Street, Suite 304
                  Beaver, PA 15009
                  Tel: (724) 770-1040
                  Fax: (412) 774-2266
                  E-mail: jprostko@fyi.net

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

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

A list of the Debtor's 11 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/pawb10-26190.pdf


SUSAN MILLER: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Susan Madeline Miller
          aka Susan Madeline Haigley
              Susan M Haigley
              Susan Haigley
              Susan M. Miller
              Susan Miller
        8018 Rider Avenue
        Towson, MD 21204

Bankruptcy Case No.: 10-30005

Chapter 11 Petition Date: August 31, 2010

Court: United States Bankruptcy Court
       District of Maryland (Baltimore)

Judge: Duncan W. Keir

Debtor's Counsel: Marc A. Ominsky, Esq.
                  LAW OFFICES OF CHAIFETZ & COYLE, PC
                  9881 Broken Land Parkway, Suite 300
                  Columbia, MD 21046
                  Tel: (443) 546=4608
                  Fax: (443) 546-4621
                  E-mail: marc_ominsky@verizon.net

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

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

A list of the Debtor's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/mdb10-30005.pdf


THREE AMIGO'S: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Three Amigo's Broadcasting, Inc.
          dba Mega 102.3
        4714 Parnell Avenue
        Fort Wayne, IN 46825

Bankruptcy Case No.: 10-13875

Chapter 11 Petition Date: September 1, 2010

Court: U.S. Bankruptcy Court
       Northern District of Indiana (Fort Wayne Division)

Judge: Robert E. Grant

Debtor's Counsel: Daniel J. Skekloff, Esq.
                  Sarah Mustard Heil, Esq.
                  Scot T. Skekloff, Esq.
                  SKEKLOFF, ADELSPERGER & KLEVEN, LLP
                  927 South Harrison Street
                  Fort Wayne, IN 46802
                  Tel: (260)407-7000
                  Fax: (260)407-7137
                  E-mail: djs@sak-law.com
                          sheil@sak-law.com
                          sts@sak-law.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/innb10-13875.pdf

The petition was signed by Christine Kotsopoulos, president.

Debtor-affiliates that filed separate Chapter 11 petitions:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Coliseum on Parnell, LLC              10-10405            02/15/10
East York, LLC                        10-11422            04/02/10


TIMOTHY SEARS: Case Summary & 19 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Timothy Karl Sears
        3459 Caminito Santa Fe Downs
        Del Mar, CA 92014

Bankruptcy Case No.: 10-15781

Chapter 11 Petition Date: September 1, 2010

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

Debtor's Counsel: Elliott H. Stone, Esq.
                  THE STONE LAW FIRM APC
                  4600 Campus Drive, First Floor
                  Newport Beach, CA 92660
                  Tel: (949) 477-9100
                  Fax: (949) 477-9111
                  E-mail: ehstone@stonelawpc.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 19 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/casb10-15781.pdf


TRICO MARINE: Gets Court's Nod to Hire Epiq as Claims Agent
-----------------------------------------------------------
Trico Marine Services, Inc., et al., sought and obtained
authorization from the Hon. Brendan L. Shannon of the U.S.
Bankruptcy Court for the District of Delaware to employ Epiq
Bankruptcy Solutions, LLC, as claims and noticing agent.

Epiq will, among other things:

     a. create and maintain electronic databases for
        creditors/party in interest information provided by the
        Debtors;

     b. assist the Debtors with the management, reconciliation and
        resolution of claims; and
s
     c. serve as noticing agent for the distribution of notices
        and proofs of claim to the estates' creditors and parties
        in interest; and

     d. provide balloting services in connection with the
        solicitation process for any Chapter 11 plan for which a
        disclosure statement has been approved by the Court.

Epiq will be paid based on these rates:

     * Professional Services

       Clerk                            $36-$54 per hour
       Case Manager (Level 1)           $112-$157 per hour
       IT Programming Consultant        $126-$171 per hour
       Case Manager (Level 2)           $166-$198
       Senior Case Manager              $202-$247
       Senior Consultant                $265

       Professional services provided by the senior consultants in
       connection with public securities solicitation and
       tabulation will range from $360 to $415 per hour.

     * Claims Management Services

       Database Maintenance   $0.10 per creditor record per month
       Data Transfer          $0.10 per creditor record
       Manual Claim Input     $0.35 per claim (plus hourly rates)
       Document Storage       At Cost
       Electronic Imaging     $0.30 per image
       Optical Character
        Recognition capture   $0.10 per image
       CD Storage             Varies upon requirements
       Weblink Hosting Fee    $200 per month
       Web site Construction  $150 per hour

     * Call Center Services

       Standard Call Center
         Sstup                 $2,500
       Call Center Operator    $75 per hour
       Voice Recorded Message  $0.19 per minute
       Support/Maintenance     $200 per month

     * Virtual Data Room Services

       Confidential On-line
        Workspace              $1.30 per page per nine months

     * Noticing Services

       Printing                $0.10 per image (plus envelope
                               face)
       Collate, fold and
        insert                 $0.10 per piece
       Postage/Overnight
        Delivery               At Cost
       E-mail Noticing         $0.02 per page
       Fax Noticing            $0.20 per page
       Claim Acknowledgement
        Card                   $0.25 per card
       Publication Noticing    TBD

     * Public Securities Balloting/Tabulation Services

       Street Name Holders     $15,000
       Registered Holders      $0.50-$0.65 per holder (Two paper
                               notices included in the same
                               envelope; subject to a $500
                               minimum)
       Individual Parties      $1.75-$2.25 per voting package
                               (Subject to a $750 minimum)
       CUSIP/ISIN Charge       $3,000 per CUSIP/ISIN
       Tabulation              $125 per hour
       Tabulation Setup        $1,000 for each tabulation element
       Document Hosting Fee    $150 a month

     * Disbursement Services

       Check and Form 1099     $1.50 each
       Record to Transfer
        Agent                  $0.25 each

Daniel C. McElhinney, Epiq's executive director, assured the Court
that the firm is "disinterested" as that term is defined in
Section 101(14) of the Bankruptcy Code.

                        About Trico Marine

Texas-based Trico Marine Services, Inc. --
http://www.tricomarine.com-- provides subsea services, subsea
trenching and protection services, and towing and supply vessels.
Trico filed for Chapter 11 protection on August 25, 2010 (Bankr.
D. Del. Case No. 10-12653).  John E. Mitchell, Esq., Angela B.
Degeyter, Esq., and Harry A. Perrin, Esq., at Vinson & Elkins LLP,
assist the Debtor in its restructuring effort.  The Debtor
disclosed $30,562,681 in total assets and $353,606,467 in total
liabilities as of the Petition Date.

Affiliates Trico Marine Assets, Inc. (Bankr. D. Del. Case No. 10-
12648), Trico Marine Operators, Inc. (Case No. 10-12649), Trico
Marine International, Inc. (Case No. 10-12650), Trico Marine
Cayman, L.P. (Case No. 10-12651), and Trico Holdco, LLC (Case No.
10-12652) filed separate Chapter 11 petitions.

Robert J. Dehney, Esq., at Morris, Nichols, Arsht & Tunnell LLP,
is the Debtors' Delaware counsel.  Cahill Gordon & Reindell LLP is
the Debtors' special counsel.  Alix Partners Services, LLC, is the
Debtors' chief restructuring officer.  Epiq Bankruptcy Solutions
is the Debtors' claims and notice agent.


TRICO MARINE: Wants Additional 30 Days to File Schedules
--------------------------------------------------------
Trico Marine Services, Inc., et al., ask for authorization from
the U.S. Bankruptcy Court for the District of Delaware to extend
to 60 days the deadline for the filing of schedules of assets and
liabilities, current income and expenditures, executor contracts
and unexpired leases, and statements of financial affairs.

The Debtors, having more than 200 creditors, currently have 30
days from the Petition Date to file the schedules and statements.
The Debtors anticipate that they need an additional 30 days to
complete, review, and file the schedules and statements with the
Court, due to the size and complexity of the Debtors' businesses,
and their prepetition focus on restructuring their financial
affairs.

Texas-based Trico Marine Services, Inc. --
http://www.tricomarine.com-- provides subsea services, subsea
trenching and protection services, and towing and supply vessels.
Trico filed for Chapter 11 protection on August 25, 2010 (Bankr.
D. Del. Case No. 10-12653).  John E. Mitchell, Esq., Angela B.
Degeyter, Esq., and Harry A. Perrin, Esq., at Vinson & Elkins LLP,
assist the Debtor in its restructuring effort.  The Debtor
disclosed $30,562,681 in total assets and $353,606,467 in total
liabilities as of the Petition Date.

Affiliates Trico Marine Assets, Inc. (Bankr. D. Del. Case No. 10-
12648), Trico Marine Operators, Inc. (Case No. 10-12649), Trico
Marine International, Inc. (Case No. 10-12650), Trico Marine
Cayman, L.P. (Case No. 10-12651), and Trico Holdco, LLC (Case No.
10-12652) filed separate Chapter 11 petitions.

Robert J. Dehney, Esq., at Morris, Nichols, Arsht & Tunnell LLP,
is the Debtors' Delaware counsel.  Cahill Gordon & Reindell LLP is
the Debtors' special counsel.  Alix Partners Services, LLC, is the
Debtors' chief restructuring officer.  Epiq Bankruptcy Solutions
is the Debtors' claims and notice agent.


TRIKEENAN TILEWORKS: Files for Bankruptcy Under Chapter 11
----------------------------------------------------------
Trikeenan Tileworks Inc. filed for Chapter 11 bankruptcy
protection in New Hampshire on August 30 (Bankr. D. N.H. Case No.
10-13725), estimating assets of between $500,000 and $1 million,
and liabilities between $1 million to $10 million.

Trikeenan Holdings Inc., and Trikeenan Tileworks Inc. of New York,
also filed for Chapter 11 on August 30.

Justin Head at The Evening Tribune reports that the Company in May
was notified that it was in default of payment to a bank.  A
person with knowledge of the matter said the Company had not made
mortgage payments or payment-in-lieu-of-taxes, estimating up to
$15,000 to the bank.  The Company had not paid any rent since last
December.

Trikeenan Tileworks -- http://www.trikeenan.com/-- makes and
sells tiles.


TRIKEENAN TILEWORKS: Case Summary & 20 Largest Unsec. Creditors
---------------------------------------------------------------
Debtor: Trikeenan Tileworks Inc.
        P.O. Box 22
        Keene, NH 03431

Bankruptcy Case No.: 10-13725

Chapter 11 Petition Date: August 30, 2010

Court: United States Bankruptcy Court
       District of New Hampshire Live Database (Manchester)

Judge: J. Michael Deasy

Debtor's Counsel: Jennifer Rood, Esq.
                  BERNSTEIN SHUR
                  670 N. Commercial St., Suite 108
                  P.O. Box 1120
                  Manchester, NH 03105-1120
                  Tel: (603) 623-8700
                  Fax: (603) 623-7775
                  E-mail: jrood@bernsteinshur.com

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

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

A copy of the Debtor's list of the 20 largest unsecured creditors
filed wit the petition is available for free at:

           http://bankrupt.com/misc/nhb10-13725.pdf

The petition was signed by Kristin Powers, president

Debtor-affiliates that filed Chapter 11 petitions:

  Company                                 Case No.  Petition Date
  -------                                 --------  -------------
Trikeenan Holdings Inc.                   10-13726    8/30/10
Trikeenan Tileworks Inc. of New York      10-13727    8/30/10


UNISYS CORPORATION: Fitch Upgrades Issuer Default Rating to 'B+'
----------------------------------------------------------------
Fitch Ratings has upgraded these ratings for Unisys Corporation:

  -- Issuer Default Rating to 'B+' from 'B';
  -- First lien senior secured notes to 'BB+/RR1' from 'BB/RR1';
  -- Second lien senior secured notes to 'BB+/RR1' from 'BB-/RR2';
  -- Senior unsecured notes to 'B+/RR4' from 'B-/RR5'.

Fitch has also revised the Rating Outlook to Stable from Negative.
Fitch's rating actions affect approximately $836 million of debt.

The upgrades and Stable Outlook reflect:

  -- An improved liquidity profile as Unisys reduced and extended
     its debt maturity schedule in the past year ended June 30,
     2010, thereby providing the company with the necessary
     financial flexibility to continue its ongoing business model
     transformation.  As of June 30, 2010, Unisys' total liquidity
     consisted of $497 million of cash, $150 million of
     availability under an undrawn accounts receivable
     securitization facility and $101 million of restricted cash.
     Furthermore, free cash flow was $115 million in the latest 12
     months ended June 30, 2010, and was generated primarily from
     funds flow from operations ($350 million) compared with
     $81 million of FCF in the year-ago period that included a
     working capital benefit of $122 million.

  -- Nearly $355 million, or 30%, year-over-year reduction in
     total debt, including A/R facility borrowings, to
     $836 million as of June 30, 2010.  The debt reduction
     primarily reflects the prior coercive debt exchange on
     July 31, 2009, repayment of nearly $65 million of senior
     notes upon maturity in March 2010 and $130 million reduction
     in A/R facility utilization.

  -- Operating profit margin expansion led by resurging demand for
     highly profitable ClearPath mainframes in the nine months
     ended June 30, 2010, which Fitch attributes to pent-up
     customer demand and the company's renewed commitment and
     investments in the platform, effective cost management and
     ongoing reallocation of services delivery resources to lower
     cost locations.

  -- Conservative financial policies and commitment to reduce
     debt, which presage further debt reduction.  Unisys has
     $101 million of cash remaining from the divestiture of the
     Health Information Management business which is restricted
     under the terms of the company's indenture and can only be
     used for capital expenditures, acquisitions of certain assets
     and repayment of certain debt obligations.  Fitch's forecast
     and recovery model assume the full $101 million is used to
     repay first lien debt in 2010, thereby reducing total debt to
     $735 million at year-end 2010.

Credit concerns center on:

  -- Continued revenue deterioration, excluding the effects of
     divestitures.  Fitch believes it will be highly challenging
     for Unisys to generate annual revenue growth in the absence
     of a strong rebound in the global economy, given the
     company's current business revenue mix.  Fitch believes
     growth in core markets, consisting of consulting and systems
     integration, information technology outsourcing and
     technology, is unlikely to offset the material 15%-20%
     revenue decline in non-core markets, which Fitch estimates
     will account for approximately 25% of revenue in 2010 and
     include business process outsourcing, core maintenance and
     infrastructure services.  Lastly, Fitch questions the long-
     term sustainability of ClearPath demand, despite recent
     strength.  Fitch believes investments to modernize ClearPath
     are likely to only moderate the annual rate of revenue
     decline to the mid-to-upper single digit range.

  -- Underfunding of worldwide defined benefit pension plans by
     $1.5 billion as of year-end 2009 and expectations for
     increased legally mandated pension contributions to the U.S.
     plan starting in 2012.

  -- Inconsistent free cash flow generation.

  -- Pricing pressures due to rising demand for offshore service
     delivery and a highly competitive operating environment.

  -- Risk of material changes to the government procurement
     process for private contractors and/or tax legislation that
     adversely affects demand for or profitability of IT services
     contracts.

The ratings may be upgraded in the event that:

  -- Strength in new services orders accelerates revenue growth
     without adversely affecting long-term profit margins;

  -- Continued operating profit margin expansion results in
     greater and more consistent free cash flow;

  -- Debt reduction.

The ratings may be downgraded in the event that:

  -- Sustained weakness in financial performance results in a
     material deterioration in liquidity and credit protection
     measures;

  -- Greater than expected declines occur in ClearPath revenue and
     profitability without offsetting growth or margin expansion
     in the core services business;

  -- Alterations are made to U.S. tax policies or legislation that
     materially reduce federal and/or commercial demand for IT
     services.

Fitch believes Unisys' liquidity is adequate, supported primarily
by $497 million of cash as of June 30, 2010 and an undrawn
$150 million accounts receivable securitization facility expiring
in May 2011, assuming sufficient eligible receivables.  The
facility includes a material adverse change clause, change of
control provision, cross default ($25 million), minimum fixed-
charge coverage ratio and maintenance of certain ratios related to
the sold receivables.  Fitch believes annual free cash flow will
range from $0-$75 million during 2010-2012.

As of year-end 2009, Unisys' DB plans in the United States and
internationally were underfunded by $967 million and $538 million,
respectively.  The company contributed $94 million to its
worldwide DB plans in 2009 compared to approximately $78 million
annually in the prior three years with the vast majority going to
international plans.  Despite a materially underfunded U.S. DB
plan, the company is not legally required to contribute to the
U.S. plan until 2012 at the earliest following passage of the
Pension Relief Act in June 2010 versus prior expectations for a
$30 million contribution in 2011.  However, Unisys expects the
required cash contribution primarily for the international plans
to increase to approximately $115 million in 2010 from nearly
$87 million in 2009.  Incremental contributions required for the
U.S. plan could potentially start in late 2012, the amount of
which is primarily contingent upon the financial markets, ultimate
return on U.S. pension assets and Unisys' choice of two deficit
funding options provided by the PRA, essentially consisting of two
plus seven- or 15-year amortization of the funding deficit.

As of June 30, 2010, Unisys' debt structure was:

  -- $68 million of 8% senior unsecured notes due 2012;

  -- $375 million of 12.75% first lien senior secured notes due
     2014;

  -- $247 million of 14.25% second lien senior secured notes due
     2015;

  -- $14 million of 8.5% senior unsecured notes due 2015;

  -- $151 million of 12.5% senior unsecured notes due 2016.

The first lien notes and second lien notes are secured by first-
priority liens and second-priority liens, respectively, by
substantially all of the Unisys' assets, except (i) accounts
receivable that are subject to one or more receivables facilities
(ii) cash or cash equivalents securing reimbursement obligations
under letters of credit or surety bonds (iii) non U.S.-based real
estate and (iv) certain other excluded assets.

The Recovery Ratings for Unisys reflect Fitch's recovery
expectations under a distressed scenario, as well as Fitch's
belief that Unisys' enterprise value, and hence recovery rates for
its creditors, will be maximized in a liquidation scenario rather
than restructuring (going concern).  In deriving a distressed
enterprise value, Fitch applies estimated advance rates of 0%,
80%, 20% and 10% to cash, accounts receivable, inventory and net
property plant and equipment, respectively, as of June 30, 2010 to
derive the liquidation value.  As a result, Fitch assigns a 'RR1'
to the first lien and second lien secured notes, reflecting an
expected recovery of 90%-100% in the event of default.  The senior
unsecured notes are assigned a 'RR4', given Fitch's expectations
for average recovery prospects of 31%-50%, given the unsecured
notes subordinate ranking in the debt structure.


UNITED WESTERN: In Talks With JPMorgan to Amend Forbearance Deal
----------------------------------------------------------------
United Western Bancorp Inc. and Equi-Mor Holdings Inc., a direct
subsidiary of the Company, reported on July 13, 2010, that it
entered into the Fourth Forbearance and Amendment Agreement with
JPMorgan Chase Bank N.A. on July 9, 2010.

The terms of the Agreement provide, among other things, that
JPMorgan agrees to forbear from exercising its rights and remedies
under the Credit Agreement dated June 29, 2007, as amended; the
$25 million line of credit note dated September 30, 2009, as
amended; the Amendment and Forbearance Agreement dated December
14, 2009; the Amendment to Credit Agreement, Note Modification and
Forbearance Agreement dated January 15, 2010; the Forbearance
Agreement dated April 21, 2010; and the other related loan
documents described in the Agreement on account of the Disclosed
Defaults until the earlier of:

    i) the end of business on September 30, 2010; or

   ii) the occurrence of a default, other than the Disclosed
       Defaults, under any of the Loan Documents, the Agreement or
       any other agreement required to be entered into by the
       Agreement.

During the Forbearance Period, the Company agreed to pay JPMorgan
monthly principal payments in the amount of $500,000 for the
months of June, July, August and September, 2010; such Forbearance
Principal Payments are due on the last day of each month, except
the June Forbearance Principal Payment shall be paid immediately
upon the receipt by the Company of the written non-objection from
the Office of Thrift Supervision on making such payment, and the
September principal payment shall be due on September 15, 2010.
In addition, the Company agreed to pay JPMorgan monthly interest
payments for the months of June, July, August and September, 2010;
such Forbearance Interest Payments are due on the last day of the
month.

Subsequent to the Company and JPMorgan entering into the
Agreement, the Company, in accordance with the terms of the
Agreement, requested the OTS's non-objection to the Company making
the Forbearance Principal Payments and the Forbearance Interest
Payments.  On Aug. 25, 2010, the OTS informed the Company that it
would not approve the Company making the Forbearance Principal
Payments and the Forbearance Interest Payments pursuant to the
Agreement.

The Company and JPMorgan are currently in negotiations regarding a
possible amendment to the terms of the Agreement.

                   About United Western Bancorp

Denver, Colorado-based United Western Bancorp, Inc. (NASDAQ: UWBK)
-- http://www.uwbancorp.com/-- is a holding company whose
principal subsidiary, United Western Bank, is a community bank
focused on Colorado's Front Range market and selected mountain
communities.


UNIVERSAL BIOENERGY: Incurs $439,400 Net Loss in June 30 Quarter
----------------------------------------------------------------
Universal Bioenergy, Inc., filed its quarterly report on Form
10-Q, reporting a net loss attributable to Universal of $439,402
on $14.0 million of revenue for the three months ended June 30,
2010, compared to a net loss attributable to Universal of $474,486
on zero revenue for the same period of 2009.

The Company's accumulated losses through June 30, 2010, amount to
$15.4 million as compared to $14.8 million as of December 31,
2009.

The Company's balance sheet at June 30, 2010, showed $2.9 million
in total assets, $3.7 million in total liabilities, and a
stockholders' deficit of $768,333.

S.E.Clark & Company, P.C., in Tucson, Arizona, expressed
substantial doubt about the Company's ability to continue as a
going concern, following its 2009 results.  The independent
auditors noted that the Company has net losses for the period from
inception (August 13, 2004) to December 31, 2009, of
$14.8 million.  Further, the Company has inadequate working
capital to maintain or develop its operations, and is dependent
upon funds from private investors and the support of certain
stockholders.

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

               http://researcharchives.com/t/s?6a9c

Universal Bioenergy Inc., is an alternative energy company
headquartered in Irvine, California.  The Company's new strategic
direction is to develop and market a diverse product line of
alternative and natural energy products including, natural gas,
solar, biofuels, wind, wave, tidal, and green technology products.


UNIVERSAL HEALTH: Fitch Downgrades Issuer Default Rating to 'BB-'
-----------------------------------------------------------------
Fitch Ratings has taken these ratings actions on Universal Health
Services, Inc.:

  -- Issuer Default Rating downgraded to 'BB-' from 'BB';

  -- Senior unsecured bank credit facility downgraded to 'BB-'
     from 'BB';

  -- Senior unsecured notes downgraded to 'BB-' from 'BB';

  -- Senior secured bank credit facility affirmed at 'BB';

  -- Senior secured notes rating assigned at 'BB'.

The Rating Outlook is Stable.  The ratings apply to approximately
$883 million of debt outstanding at June 30, 2010.

Ratings Prospective For Psychiatric Solutions Acquistion:

On May 18, 2010, Fitch downgraded UHS's IDR to 'BB' from 'BBB',
and placed all ratings on Rating Watch Negative following the
company's announcement that it had agreed to purchase Psychiatric
Solutions, Inc., in an entirely cash funded $3.1 billion
transaction.  Pending receipt of regulatory approvals and PSYS
shareholder approval, the transaction is expected to close in the
fourth quarter of 2010 (4Q'10).  The $3.1 billion purchase price
includes $2 billion to purchase PSYS equity, equating to $33.75
per share, plus the assumption of $1.1 billion of net debt of
PSYS.  UHS will fund almost 100% of the transaction cost through
debt.

The transaction will significantly impact UHS's operating and
credit metrics.  Based on lastest 12 months June 30, 2010 results,
outstanding debt of $883 million equaled 1.2 times EBITDA of
$715 million.  Pro forma for the transaction, Fitch expects UHS to
have approximately $4.1 billion in outstanding debt and to
generate in the area of $1.1 billion of EBITDA, including about
$330 million contributed by PSYS.  Fitch expects debt to equal
about 3.8x pro forma EBITDA prior to any potential debt reduction
post the acquisition.  Although pro forma debt leverage is
somewhat elevated relative to UHS's 'BB-' IDR, the rating is
supported by these factors:

  -- Fitch's pro forma EBITDA does not take into account the
     potential for cost synergies beyond the elimination of about
     $40 million of duplicative corporate expense in 2011.  PSYS's
     EBITDA margin runs about 200-250 basis points below UHS's
     behavioral health segment EBITDA margin, providing support
     for the expectation that there is upside potential for EBITDA
     growth through improvement of PSYS's profitability.

  -- There is the potential for debt reduction post acquisition
     through free cash flow, or through the application of asset
     sale proceeds.  Some level of divestitures in areas of
     geographic overlap is highly likely in order to obtain
     regulatory approvals necessary for the acquisition to
     proceed.

  -- The acquisition will significantly expand UHS's presence in
     the behavioral health space.  PSYS is the largest standalone
     operator of freestanding inpatient psych facilities, with 94
     facilities in 32 states, Puerto Rico and the US Virgin
     Islands.  UHS's behavioral health segment provides
     operational diversification that is unique amongst for-profit
     hospital providers.  In general, relative to the acute care
     hospital segment, behavioral health operations are more
     profitable, exhibit less volatility in patient volumes and
     revenues and are less vulnerable to certain challenges faced
     by the acute care segment, including high levels of
     uncompensated care and significant regulatory risk.  For the
     LTM ended June 30, 2010, UHS's behavioral health segment
     contributed about 26% of the company's revenues and about 39%
     of its EBITDA.  Fitch estimates that post acquisition, the
     contribution of the behavioral segment will increase to 45%
     of revenue and 55% of EBITDA.  In addition, the acquisition
     will increase UHS's geographic diversity, ameliorating credit
     risk related to its high degree of exposure to the Las Vegas,
     NV market, which represented about 22% of revenues in 2009.

Impact Of Acquistion On Capital Structure:

The majority of the financing for the acquisition will come from
the new bank credit facility which UHS launched in 3Q'10.  The new
facility commitment totals $3.45 billion and consists of:

  -- An $800 million revolving credit agreement;
  -- A $1.05 billion term loan A;
  -- A $1.6 billion term loan B.

Fitch rated the new credit facility 'BB' in June 2010, and
maintenance of the rating one-notch above the 'BB-' IDR is
supported by the credit facility collateral, which is expected to
include hard asset security in the form of real estate owned by
UHS and its domestic subsidiaries.  This represents higher quality
collateral relative to the existing bank credit facility, rated on
par with the IDR, and which is unsecured.  The unsecured credit
facility will remain outstanding until the new credit facility
becomes effective, which will occur upon the closing of the
acquisition.  At that time, the unsecured credit facility will be
replaced and Fitch plans to withdraw the rating.

The only pieces of UHS's current capital structure that will
remain outstanding after the acquisition are the 2011 and 2016
senior notes; because of the limitations on liens provision in the
notes indenture, Fitch believes the notes will become secured on a
parity basis with the new credit facility when the facility
becomes effective.  Therefore, the note rating is downgraded to
'BB-' at this time.  Fitch has established a senior secured notes
rating of 'BB'; when the new credit facility becomes effective and
the senior notes become secured, Fitch expects to rate the notes
'BB'.

Other sources of financing to be used for the acquisition include
$250 million of new senior unsecured notes which UHS plans to
issue later in 2010.  These notes will be heavily subordinated, as
93% of debt will be secured through the bank debt and existing
2011 and 2016 notes.  Therefore, recovery for holders of these
notes in the event of liquidation or restructuring will be
prejudiced, and Fitch expects it will rate the unsecured notes
'B+', one-notch below the IDR.  Based on the assumed capital
structure and Fitch's pro forma EBITDA estimate, debt-to-EBITDA
will be 3.0x through the bank facility, 3.6x through the secured
debt and 3.8x through the unsecured debt.

Solid Liquidity Profile:

Fitch believes UHS has sufficient liquidity to fund its operating
and financing needs over the near term.  Liquidity is provided
primarily through cash from operations ($456 million for the LTM
ended June 30, 2010), and the $800 million unsecured credit
revolver ($571 million available at June 30, 2010).  UHS had
$12.3 million in cash on hand at June 30, 2010 and FCF was
$119.4 million for the LTM period.  Based on a conservative
operating scenario for the combined UHS/PSYS, Fitch expects annual
FCF (defined as CFO less dividends and capital expenditure)
generation to stabilize around $150 million, indicative of around
a 2% FCF margin.

Near-term debt maturities should be manageable; the next
significant maturities occur in 2011, when the unsecured bank
credit revolver ($166 million drawn as of June 30, 2010) and the
$200 million 6.75% senior notes are due in July and November,
respectively.  Fitch expects the outstanding amount on the
revolver to be refinanced when the new credit facilities become
effective, anticipated in 4Q'10.  In the event internal liquidity
is not sufficient to fund the $200 senior note maturity in
November 2011, Fitch believes UHS will have adequate capital
market access or sufficient capacity on its bank credit revolver
to refinance the maturity.

Guidelines For Further Rating Actions:

As indicated by the Stable Rating Outlook, Fitch believes a change
in the ratings is unlikely over the next 12-24 months.  However,
if debt leverage reduction post the acquisition were to outpace
Fitch's expectations due to some combination of above projected
growth in EBITDA and more aggressive than anticipated debt
reduction, leading to debt-to-EBITDA falling to near 3.0x in the
near term, it could precipitate a positive rating action.

Total debt of $883 million at June 30, 2010, consisted primarily
of:

Senior unsecured credit facility

  -- $200 million A/R securitization facility due August 2010
     ($100 million outstanding at June 30, 2010), replaced with
     new $250 million A/R securitization program;

  -- $166 million due 2011.

Senior notes

  -- $200 million due 2011;
  -- $400 million due 2016.


US AEROSPACE: Taps Rose Snyder as New Accountant
------------------------------------------------
U.S. Aerospace Inc. said its relationship with KMJ Corbin &
Company LLP, as independent auditor, has ceased.  On Aug. 31,
2010, Rose, Snyder & Jacobs, was engaged as the Company's
principal independent registered public accountant to audit our
financial statements for the fiscal year ended Dec. 31, 2010.  The
change in auditors was approved by the Audit Committee of the
Company's Board of Directors."

According to the Company, "The audit report of KMJ Corbin on our
financial statements, as of and for the fiscal year ended December
31, 2009 did not contain any adverse opinion or disclaimer of
opinion, nor were such reports qualified or modified as to
uncertainty, audit scope or accounting principles, except that it
contained an explanatory paragraph which noted that there was
substantial doubt as to our ability to continue as a going concern
due to our operating loss, accumulated deficit, working capital
deficit and events of default on our secured debt at that time.

"During the fiscal year ended Dec. 31, 2009, and the interim
period through August 25, 2010, (1) we had no disagreements with
KMJ Corbin on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure,
which disagreements, if not resolved to the satisfaction of KMJ
Corbin, would have caused KMJ Corbin to make reference to the
subject matter of the disagreement in connection with its report;
and (2) there have been no 'reportable events'.

During the fiscal years ended Dec. 31, 2009 and Dec. 31, 2008, and
the interim period through August 31, 2010, we did not consult
with Rose, Snyder & Jacobs regarding:

    1) the application of accounting principles to a specified
       transaction, either proposed or completed, or the type of
       audit opinion that might be rendered on our financial
       statements; or

   2) any matter or reportable event set forth in Item 304(a)(2)
      (i) or (ii) of Regulation S-K, except the inadvertent filing
      of a Quarterly Report on Form 10-Q for the period ended June
      30, 2010 as reported in the Current Report on Form 8-K dated
      Aug. 16, 2010, and the material weaknesses as described in
      the Current Report on Form 8-K dated Aug. 6, 2009.

U.S. Aerospace, Inc. -- http://www.USAerospace.com-- is a
publicly traded aerospace and defense contractor based in Southern
California.  The Company supplies aircraft assemblies, structural
components and highly-engineered, precision-machined details for
commercial and military aircraft.

The Company's balance sheet at June 30, 2010, showed $5.67 million
in total assets, $12.38 million in total liabilities, and a
$6.71 million stockholders' deficit.


WAYTRONX INC: Closes $4 Million Term Note With Wells Fargo Capital
------------------------------------------------------------------
Waytronx Inc. along with its wholly owned subsidiaries, CUI INC.,
has closed and funded a $4.0 million Term Note with the Business
Credit division of Wells Fargo Capital Finance, part of Wells
Fargo & Company.  This note completes the funding of an $8.0
million credit facility with Wells Fargo Capital Finance and ends
the company's relationship with The Commerce Bank of Oregon.
By successfully completing the credit facility with Wells
Fargo Capital Finance, the company has replaced its banking
relationships with both Key Bank and the Commerce Bank of Oregon
and is now in full compliance with all relevant financial
covenants.

As explained by the company's President & CEO, William Clough,
"The company certainly appreciates our three-year relationship
with The Commerce Bank of Oregon; their efforts and support
enabled us to acquire CUI and begin our move to a technology
licensing business model -- The help and assistance provided by
Commerce Bank and its personnel was invaluable to our continued
success and we offer them our thanks."

The move to Wells Fargo Capital Finance is part of a larger
strategy by Waytronx to:

* Re-structure all of its corporate debt;
* Replace its Key Bank line-of-credit;
* Replace its Commerce Bank of Oregon term note; and,
* Maintain full compliance with all financial covenants.

"The move to Wells Fargo Capital Finance and the resulting savings
in interest, coupled with our recent retirement of $9,200,000 in
debt, significantly improves our balance sheet and allows the
company to continue its focus on product sales and operational
efficiencies," Mr. Clough continued.

"We intend to persist in our efforts to identify, acquire,
license, and commercialize proprietary technologies like the AMT
Encoder, the Digital Power Modules, SEPIC-fed BUCK converter
technology, and the GasPT2 natural gas metering device.  These
efforts and the savings we have realized through this new
relationship with Wells Fargo should continue to produce positive
results in both revenue growth and increased shareholder value
through 2010 and beyond," concluded Mr. Clough.

"After working with the highly experienced senior management team
at Waytronx, Inc., we are excited to provide a credit facility
that will enable the company to better support its growth," said
Kevin Cox, vice president at Wells Fargo Capital Finance.
"Waytronx is a premier innovator in its space, and we look forward
to a long relationship with the company."

                        About Waytronx Inc.

Based in Tualatin, Oregon, Waytronx, Inc. (OTCBB: WYNX) has
pioneered and is developing innovative thermal management
solutions capable of revolutionizing the semiconductor, solar and
electronic packaging industries, among others, utilizing its
patented WayCool(TM)/WayFast(TM) hybrid mesh architecture.  In
addition, through its acquisition of CUI in May 2008, Waytronx has
developed the infrastructure, expertise, and platform necessary to
acquire, develop, and commercialize new technologies.

CUI is a solutions provider of electromechanical components and
industrial controls for OEM manufacturing.  Since its inception in
1989, CUI has been delivering quality products, extensive
application solutions, and superior personal service.  CUI's solid
customer commitment and honest corporate message are a hallmark in
the industry.

The Company's balance sheet at March 31, 2010, showed
$38.5 million in assets, $33.7 million of liabilities, and
$4.8 million in stockholders' equity.

As reported in the Troubled Company Reporter on April 6, 2010,
Webb & Company, P.A., in Boynton Beach, Fla., expressed
substantial doubt about the Company's ability to continue as a
going concern after auditing the Company's financial statements
for the year ended December 31, 2009.  The independent auditors
noted that the Company has a net loss of $4.2 million and an
accumulated deficit of $54.8 million at December 31, 2009.  The
Company had an accumulated deficit of $55.9 million as of
March 31, 2010.


WE LEAD: Case Summary & 5 Largest Unsecured Creditors
-----------------------------------------------------
Debtor: We Lead, Inc.
        15720 Ventura Boulevard, #400
        Encino, CA 91436

Bankruptcy Case No.: 10-21021

Chapter 11 Petition Date: September 1, 2010

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

Judge: Geraldine Mund

Debtor's Counsel: Rachel S. Ruttenberg, Esq.
                  LAW OFFICES OF MARK E. GOODFRIEND
                  16255 Ventura Boulevard, Suite 205
                  Encino, CA 91436
                  Tel: (818) 783-8866
                  Fax: (818) 783-5445
                  E-mail: rruttenberg@gmail.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 five largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-21021.pdf

The petition was signed by Beck Saffary, president.


WEYERHAEUSER COMPANY: Fitch Affirms 'BB+' Issuer Default Rating
---------------------------------------------------------------
Fitch Ratings has affirmed the 'BB+' Issuer Default Rating and the
'BB+' senior unsecured debt rating of Weyerhaeuser Company.  The
Rating Outlook remains Negative.

The ratings are based on Weyerhaeuser's earnings prospects and its
adjusted leverage combined with the cash generation capability of
the company.  Weyerhaeuser continues to be troubled by a
profitless Wood Products' business and a depressed homebuilding
(Real Estate) business.  Both are directly affected by the malaise
in residential construction and the repair and remodeling markets
which refuse to show much economic recovery.  Weyerhaeuser's
Timberlands and Cellulose Fibers' businesses continue to turn a
profit, although Timberlands is operating at depressed levels due
to poor demand for lumber and panels while Cellulose Fibers has
been on the rise owing to supply constraints in the pulp markets
amid better demand.

Combined Weyerhaeuser has rebounded strongly in year-over-year
half-year comparisons, earning a little over $400 million in
EBITDA in the first six months of 2010.  However, the back half of
the year will struggle to match the strength of the first half
what with falling lumber and panel prices and retreating home
sales and housing starts being the harbingers of a poorer second
half.  Fitch expects that Weyerhaeuser will still emerge from 2010
with better leverage metrics than the company was showing at the
half-way mark (5.4 times net debt/EBITDA).  However, the result
will still be well out of 'investment grade' territory.

Coinciding with an expected softness in results is Weyerhaeuser's
conversion to a real estate investment trust.  This will benefit
shareholders through the elimination of the double taxation of
eligible REIT income repatriated as dividends.  The immediate cash
cost of the conversion to the company is a $560 million dividend
just paid which lowers cash balances of some $1.8 billion at the
end of last June.  To be revealed in the fourth quarter is a new
dividend payout, likely leaning toward maximizing a distribution
of REIT earnings.  In the initial occurrence of these events,
Weyerhaeuser will probably be free cash flow negative (cash flow
from operations less capital expenditures and dividends), and
although business conditions are expected to improve in 2011, the
prognosis for free cash flow is less certain and the basis for the
Negative Ratings Outlook.

In Fitch's view, Weyerhaeuser does have options.  Within its
portfolio of timberlands is 600,000 acres of non-strategic lands
that are available for sale, as well as other assets.  Fitch
estimates that the non-strategic acreage could be worth around
$1.2 billion which Weyerhaeuser could use to restore liquidity,
repay debt, buy back stock, or some combination thereof.  Such
actions could affect the company's debt ratings; however, the
timing, composition, ability and desire are yet to be seen.

Scheduled debt repayments for the balance of this year and 2011
are nominal, increasing to $700 million-plus in 2012.
Weyerhaeuser also has a $1 billion undrawn revolver at its
disposal which matures in 2012.

Ratings drivers continue to center on the cash flow of
Weyerhaeuser's Wood Products' operations, and the ability of
Weyerhaeuser's non-REIT subsidiaries (essentially Wood Products,
Real Estate and Cellulose Fibers) to be self-sustaining.
Weyerhaeuser's upcoming dividend program in relation to its cash
flows is a principal determinant.


WGMJR INC: Stay Lifted in Chapter 11 Case Filed in Bad Faith
------------------------------------------------------------
WestLaw reports that a debtor's bad faith filing of a Chapter 11
petition in an attempt to gain an unfair advantage in a two-party
dispute with a creditor whose claim was secured by an interest in
the debtor's commercial realty, coupled with the debtor's
inability, without spending funds that it did not have and had no
demonstrable prospects of soon obtaining, to renovate the property
in order to secure additional tenants and be able to make adequate
protection payments to the creditor, constituted "cause" for
lifting the stay to allow the creditor to exercise its rights in
the property.  A bankruptcy judge in Texas held that a lack of
good faith in filing for bankruptcy relief constitutes "cause" for
lifting the automatic stay.  In re WGMJR, Inc., --- B.R. ----,
2010 WL 3155249 (Bankr. S.D. Tex.).

WGMJR, Inc., sought chapter 11 protection (Bankr. S.D. Tex. Case
No. 10-31835) on Mar. 2, 2010; is represented by Patrick D.
Devine, Esq., in Houston, Tex.; and estimated its assets and debts
at less than $10 million at the time of the filing.


WINDY AVENUE: Case Summary & Largest Unsecured Creditor
-------------------------------------------------------
Debtor: Windy Avenue, LLC
        7120 Rafael Ridge Way
        Las Vegas, NV 89119

Bankruptcy Case No.: 10-26595

Chapter 11 Petition Date: August 31, 2010

Court: United States Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Linda B. Riegle

Debtor's Counsel: Samuel A. Schwartz, Esq.
                  THE SCHWARTZ LAW FIRM
                  701 E. Bridger Avenue, Suite 120
                  Las Vegas, NV 89101
                  Tel: (702) 385-5544
                  Fax: (702) 385-2741
                  E-mail: sam@schwartzlawyers.com

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

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

In its list of 20 largest unsecured creditors, the Company placed
only one entry:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
GE Capital Corp.          APN 177-05-801-032     $1,000,000
16479 Dallas parkway,
Suite 500
Addison, TX 75001

The petition was signed by Rafael Medina, managing member.


* Drunkenness No Defense for Lawyer's Bankruptcy Fraud
------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the conviction of a lawyer for bankruptcy fraud was
upheld when the attorney continued filing bankruptcy petitions
even though he had been suspended from practice.

In the case is U.S. v. Holstein, 09-2822, 7th U.S. Circuit
Court of Appeals (Chicago), a lawyer was suspended from practice
by disciplinary authorities in Illinois, but nonetheless continued
soliciting clients to file bankruptcy and instructed his paralegal
to omit his name from the petitions.  The Court of Appeals in
Chicago on Aug. 18 upheld the conviction on nine counts of
bankruptcy fraud.  The appeals court did not accept O'Connell's
argument that he wasn't responsible because a paralegal prepared
the papers while he was "drunk and secluded at his summer home."
The prison sentence was a year and one day.


* Afghanistan Bank Teetering on Insolvency, Seeks U.S. Bailout
--------------------------------------------------------------
The Wall Street Journal's Matthew Rosenberg reports that Mahmood
Karzai, brother of Afghanistan's president and the third-largest
shareholder in Kabul Bank, the country's largest bank, called on
the United States to shore up the lender after depositors withdrew
about a third of its cash reserves in two days, while the country
sought to avert a destabilizing crisis at a crucial moment in the
fight against the Taliban.

Depositors have withdrawn about $177 million from the lender --
about a third of its available cash -- in the two days since
Afghan regulators forced out the bank's two top executives and
placed a central bank official in charge, amid allegations that
they made hundreds of millions of dollars in often-clandestine
loans to themselves and Afghan government insiders.

The Journal says Mr. Karzai urged the U.S. to calm the situation,
saying the lender could keep up with the pace of withdrawals for
only a few more days.

According to the Journal, the U.S. said it has no plans to prop up
Kabul Bank and has only sent in a small team of experts to help
the Afghan central bank sort out the mess.

"While we are providing technical assistance to the Afghan
government, we are taking no steps to bail out Kabul Bank," said
White House spokesman Robert Gibbs, according to the Journal.

The Journal reports Mr. Karzai said if the withdrawals continue
apace, the bank would be effectively insolvent by early next week.
The Journal relates the bank has $1.3 billion in deposits, and its
total assets are almost equal to its liabilities.  But the lender
only had $500 million in cash on hand at the start of the crisis,
Mr. Karzai said.  Its other assets -- including Dubai real estate
investments of uncertain value -- aren't easily convertible into
cash.

The Journal also reports Kabul Bank's woes pose a threat to
Afghanistan's nine other private banks, potentially foiling years
of American-backed efforts to build from scratch the kind of
banking system seen as essential to a healthy economy.

The Journal further relates some U.S. officials expressed doubt
that the Afghan government could bear the strain of propping up
Kabul Bank without outside help. The government took in less than
$1 billion in revenue last year and relies on the U.S. and other
donors for much of its budget.

If Kabul Bank were to run short of money, the cash for depositors
"may well come from the coffers of U.S. taxpayers and other
international donors," said one U.S. official.


* SEC Decides Not to Sue Moody's
--------------------------------
American Bankruptcy Institute reports that the Securities and
Exchange Commission said that it would not sue Moody's Investors
Service Inc. despite allegations that it had broken securities
laws.


* Monomoy's Second Fund Likely to Surpass $350-Mil. Target
----------------------------------------------------------
Dow Jones' DBR Small Cap reports that Monomoy Capital Partners LLC
is planning a close on its second turnaround fund in the next few
weeks, taking the vehicle modestly over its $350 million target,
according to people familiar with the situation.


* Asst. U.S. Attorney Lane Becomes Manhattan Bankruptcy Judge
-------------------------------------------------------------
Bloomberg News reports that Sean H. Lane, an assistant U.S.
Attorney in Manhattan, was named by the U.S. Court of Appeals in
New York to fill the vacancy left on the retirement of U.S.
Bankruptcy Judge Prudence Carter Beatty.  Mr. Lane was the chief
of the tax and bankruptcy unit in the U.S. Attorney's office.  He
ascends to the U.S. Bankruptcy Court for the Southern District of
New York on Sept. 7.


* Skadden's Butler Among Law360's 10 Most Admired Bankruptcy Attys
------------------------------------------------------------------
Guiding auto parts supplier Delphi Corp. through a trailblazing
restructuring - which one lawyer compared to Dante's "Inferno" -
required Skadden Arps Slate Meagher & Flom LLP's Jack Butler Jr.
to assume a wide array of roles including strategist, motivator
and fierce negotiator, part of what makes him one of Law360's 10
Most Admired Bankruptcy Attorneys.

To be sure, Butler's renown in the bankruptcy world isn't limited
to Delphi: The 54-year-old co-leader of Skadden's corporate
restructuring practice also played leading roles restructuring US
Airways Group Inc., Bankruptcy Law360 says.


* BOOK REVIEW: The U.S. Healthcare Certificate of Need Sourcebook
-----------------------------------------------------------------
Author: Robert James Cimasi
Publisher: Beard Books
Softcover: 520 pages
Price: $199.95
Review by Henry Berry

Established more than 30 years ago by the federal government and
state governments, the Certificate of Need (CON) program was
intended to be a primary way to control healthcare costs by
regulating major capital expenditures and modifying healthcare
service capacity.  According to the author, the CON program is
based on the premise that, "in an unregulated market health-care
providers will provide the latest costly technology and equipment,
regardless of duplication or need."

With healthcare costs continuing to rise inexorably, CON programs
are being reconsidered and reviewed by federal and state
regulators and healthcare agencies.  The CON program is still used
by most states to control healthcare costs, although some states
have abandoned the program or substantially modified it.  The
number of states with CON programs peaked at 49 in 1980 and
remained in the high 40s for most of the 1980s.  In 1988, the
number dipped to 39 and has held steady in the high to mid 30s
since then.  In 2004, the number was at 36. Regardless, the CON
program has significantly affected the delivery of healthcare in
this country and still does.

The U.S. Healthcare Certificate of Need Sourcebook is encyclopedic
in scope and content, which reflects the author's breadth of
knowledge about the subject matter.  For over 20 years, Cimasi has
helped clients in nearly every state understand and comply with
the requirements of the CON program.  He is a leading authority on
CON issues, practices, procedures, regulations, and standards, and
he has an incomparable background in healthcare consulting,
litigation, and mergers and acquisitions.

Cimasi draws upon his formidable experience and his record of
helping healthcare businesses adapt to market and regulatory
changes to present a great amount of information, cases, and
developments relating to the CON program.

The book offers readers an overview of CON program basics and a
history of its development.  This overview is complemented with a
discussion of federal and state court cases and state
administrative cases and decisions affecting the program's
application.  The author's treatment of these cases is thorough --
the cases categorized by states alone cover nearly 120 pages.  The
multitude of state cases are cited and annotated according to
different levels of state courts, and also by their underlying
causes of action and classification of regulated asset.  For
example, 20 underlying causes of action are offered under seven
headings.  The classifications for causes of action include
procedural due process violations, arbitrary CON board decisions,
establishment/challenge to new need requirements for state health
plans, and definition of regulatory terms. The classifications for
regulated assets include medical equipment such as magnetic
resonance imaging and computerized tomography; ambulatory surgery
centers; cancer treatment centers, dentist offices, hospitals, and
other facilities; and services, including ambulances, cardiac
catheterization, and dialysis.

While the book is extraordinarily comprehensive in its treatment
of the subject matter, it is also interactive and user friendly.
From his experience with clients, Cimasi understands what is most
important to impart to readers about the numerous cases cited
throughout the book.  The utility of this work is reflected in the
"abstracts" of each case.  The abstracts are categorized by state
and include complete, consistent identification of each case
according to standard legal annotation. Each abstract describes
the grounds of the action, states the findings of the court, and
gives the court's decision.  For example, a sample abstract of the
1987 case Platte County Medical Center Inc. v. Missouri Health
Facilities Review Committee describes the circumstances leading up
to a final decision by an appeals court -- "Denied applicant
appealed to the Circuit Court, Cole County after Committee denied
its applicant for CON" -- along with other specifics of the case.
The finding of the appeals court, which ended the litigation, was
that the "Committee's failure to issue decision in a timely manner
(under 120 days) indicated approval of CON."  This information is
useful for readers not only for decisions in particular states,
but also for rulings for compliance with CON statutes and
regulations by both healthcare organizations in the private sector
and the government.

Cimasi's book offers several other resources.  One is a
bibliography of hundreds of books and articles on CON. The
Sourcebook also lists CON statutes and regulations by state and
contact information for state agencies responsible for program
implementation. Useful websites are also provided.

This thorough guide and reference is invaluable to anyone who will
be or is involved in the CON program in any of the states where it
is still in place.  Readers will also find it uniquely informative
on government policies concerning healthcare.

Robert James Cimasi, President of Health Capital Consultants, has
a long and broad background in the fields of healthcare and
business appraisal and mergers and acquisitions.  A frequent
speaker at conferences for national healthcare organizations, he
is also the author of three books on healthcare and contributor of
articles to others.



                           *********

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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