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         T R O U B L E D   C O M P A N Y   R E P O R T E R

            Thursday, September 9, 2010, Vol. 14, No. 250

                            Headlines

2001 PROPERTIES: Section 341(a) Meeting Scheduled for Oct. 4
2001 PROPERTIES: Taps Taps Guy Humphries as Bankruptcy Counsel
2626 BWAY: Axed Deal Prompts Chapter 11 Bankruptcy Filing
ACTION PRODUCTS: Working Towards Debt Restructuring
AMERICAN BIO: Reports $167,000 Net Income in June 30 Quarter

AMERICAN SAFETY: Sept. 20 Bid Deadline; Auction Set for Sept. 23
ANDY MORGAN: Voluntary Chapter 11 Case Summary
ARRAY BIOPHARMA: June 30 Balance Sheet Upside-Down by $116.7MM
BARK GROUP: Posts $2.3 Million Net Loss in June 30 Quarter
BLACK RAVEN: Incurs $1.1 Million Net Loss in June 30 Quarter

BOOMERANG SYSTEMS: Posts $3.7 Million Net Loss in June 30 Quarter
BOURLAND & LEVERICH: S&P Assigns Corporate Credit Rating at 'B'
BRISTOW GROUP: S&P Affirms 'BB' Issue-Level Ratings on Unsec. Debt
BRUCE ROTHBERG: Case Summary & 20 Largest Unsecured Creditors
CANWEST GLOBAL: Gets Nov. 5 Extension of Stay Period Under CCAA

CENTERVIEW INVESTMENTS: Case Summary & Creditors List
CENTRIX FINANCIAL: Court Supports Contract Assumption Defense
CHANTICLEER HOLDINGS: Posts $114,125 Net Loss in June 30 Quarter
CHARLES BUCOLT: Case Summary & 20 Largest Unsecured Creditors
CHEM RX: Nears Stalking Horse Deal; Seeks Exclusivity Extension

CHINA LOGISTICS: Incurs $937,300 Net Loss in June 30 Quarter
CITY MALL: Voluntary Chapter 11 Case Summary
COLONIAL BANCGROUP: FDIC Refund Dispute still Not Resolved
COMMERCE CENTRE: Involuntary Chapter 11 Case Summary
CONVERGYS CORP: S&P Gives Stable Outlook; Affirms 'BB+' Rating

DAVID O'LEARY: Case Summary & 20 Largest Unsecured Creditors
E & H DINERS: Case Summary & 3 Largest Unsecured Creditors
ENTERPRISE PRODUCTS: Merger Deal Won't Affect Fitch's Ratings
FABRICATED PLASTICS: Case Summary & 20 Largest Unsecured Creditors
FGIC CORPORATION: Wilmington Trust Tapped to Creditors' Committee

FIRST BANK: Conn. Bank Rated E- by Weiss Ratings
FIRST BANK: Fla. Bank Rated E- by Weiss Ratings
FIRST BANKING: Wisc. Bank Rated E+ by Weiss Ratings
FIRST CAPITAL: Fla. Bank Rated E- by Weiss Ratings
FIRST CENTRAL SB: N.Y. Bank Rated E- by Weiss Ratings

FIRST CHATHAM: Ga. Bank Rated E by Weiss Ratings
FIRST CHEROKEE: Ga. Bank Rated E- by Weiss Ratings
FIRST CHICAGO: Ill. Bank Rated E+ by Weiss Ratings
FIRST CHOICE: Ill. Bank Rated E by Weiss Ratings
FIRST CHOICE: Ga. Bank Rated E by Weiss Ratings

FIRST CITIZENS: Ga. Bank Rated E- by Weiss Ratings
FIRST CITY: Fla. Bank Rated E- by Weiss Ratings
FIRST COLORADO: Colo. Bank Rated E+ by Weiss Ratings
FIRST COMMERCE: Ga. Bank Rated E- by Weiss Ratings
FIRST COMMERCIAL: Minn. Bank Rated E+ by Weiss Ratings

FIRST COMMERCIAL: Fla. Bank Rated E by Weiss Ratings
FIRST COMMERCIAL BANK OF TAMPA: Fla. Bank Rated E+ by Weiss
FIRST COMMUNITY: N.M. Bank Rated E- by Weiss Ratings
FIRST COMMUNITY: Tex. Bank Rated E+ by Weiss Ratings
FIRST COMMUNITY: Fla. Bank Rated E- by Weiss Ratings

FIRST CORNERSTONE: Pa. Bank Rated E- by Weiss Ratings
FIRST COVENANT: Ga. Bank Rated E- by Weiss Ratings
FIRST FS&LA: Ind. Bank Rated E- by Weiss Ratings
FIRST FS&LA: Ill. Bank Rated E- by Weiss Ratings
FIRST GEORGIA: Ga. Bank Rated E- by Weiss Ratings

FIRST GUARANTY: Fla. Bank Rated E- by Weiss Ratings
FIRST HERITAGE: Wash. Bank Rated E by Weiss Ratings
FIRST MARINER: Md. Bank Rated E- by Weiss Ratings
FIRST MIDWEST: S.D. Bank Rated E- by Weiss Ratings
FIRST NATIONAL: Kan. Bank Rated E- by Weiss Ratings

FIRST NATIONAL: Kan. Bank Rated E- by Weiss Ratings
FIRST NATIONAL: Ala. Bank Rated E by Weiss Ratings
FIRST NATIONAL: Ga. Bank Rated E- by Weiss Ratings
FIRST NATIONAL: Ill. Bank Rated E by Weiss Ratings
FIRST NATIONAL: Fla. Bank Rated E by Weiss Ratings

FIRST NATIONAL: Ga. Bank Rated E+ by Weiss Ratings
FIRST NATIONAL: Ill. Bank Rated E+ by Weiss Ratings
FIRST NATIONAL: Mich. Bank Rated E- by Weiss Ratings
FIRST NATIONAL: Iowa Bank Rated E+ by Weiss Ratings
FIRST NATIONAL: Fla. Bank Rated E by Weiss Ratings

FIRST NATIONAL: Kan. Bank Rated E- by Weiss Ratings
FIRST PEOPLES: Fla. Bank Rated E- by Weiss Ratings
FIRST PERSONAL: Ill. Bank Rated E- by Weiss Ratings
FIRST RESOURCE: Minn. Bank Rated E- by Weiss Ratings
FIRST SOUND BANK: Wash. Bank Rated E- by Weiss Ratings

FIRST SOUTH: S.C. Bank Rated E by Weiss Ratings
FIRST STANDARD: Calif. Bank Rated E+ by Weiss Ratings
FIRST STATE: Va. Bank Rated E- by Weiss Ratings
FIRST STATE: Ga. Bank Rated E- by Weiss Ratings
FIRST STATE: Kan. Bank Rated E- by Weiss Ratings

FIRST STATE: Minn. Bank Rated E- by Weiss Ratings
FIRST STATE: Ill. Bank Rated E+ by Weiss Ratings
FIRST SUBURBAN: Ill. Bank Rated E- by Weiss Ratings
FIRST TUSKEGEE: Ala. Bank Rated E+ by Weiss Ratings
FIRST UNITED: Ill. Bank Rated E+ by Weiss Ratings

FIRST VIETNAMESE: Calif. Bank Rated E- by Weiss Ratings
FIRSTIER BANK: Colo. Bank Rated E- by Weiss Ratings
FIRSTSECURE BANK: Ill. Bank Rated E- by Weiss Ratings
FLETCHER GRANITE: Sovereign Rocked on $7MM Quarry Loan
FLORIDA CAPITAL: Fla. Bank Rated E- by Weiss Ratings

FOUNDATIONS BANK: Wisc. Bank Rated E+ by Weiss Ratings
FOUR COUNTY: Ga. Bank Rated E- by Weiss Ratings
FREEDOM BANK: Mont. Bank Rated E- by Weiss Ratings
FREEDOM BANK: Fla. Bank Rated E+ by Weiss Ratings
FRONTIER BANK: Iowa Bank Rated E by Weiss Ratings

FUNDEX CAPITAL: S.D.N.Y. Sets Oct. 11 Bar Date for Claims
GENERAL GROWTH: Discloses Executive Transition Plan
GENERAL GROWTH: Equity Panel Wants to Raise Weitzman Fee Cap
GENERAL GROWTH: Seeks Approval of ERISA Class Action Settlement
GENERAL GROWTH: Wins Nod to Sell Mesa Village Properties

GEORGE HOUSER: Section 341(a) Meeting Scheduled for Sept. 30
GEORGIA TRUST: Ga. Bank Rated E- by Weiss Ratings
GLEN ROSE: Posts $1.6 Million Net Loss in June 30 Quarter
GOLDEN COAST: Calif. Bank Rated E- by Weiss Ratings
GOLDEN SECURITY: Calif. Bank Rated E by Weiss Ratings

GOLDEN STATE: Calif. Bank Rated E by Weiss Ratings
GOLDWATER BANK: Ariz. Bank Rated E by Weiss Ratings
GOLF SB: Wash. Bank Rated E+ by Weiss Ratings
GORDON BANK: Ga. Bank Rated E- by Weiss Ratings
GREAT ESCAPE: Case Summary & 15 Largest Unsecured Creditors

GREAT FLORIDA: Fla. Bank Rated E+ by Weiss Ratings
GREAT NORTHERN: Minn. Bank Rated E- by Weiss Ratings
GSC GROUP: Gets Court's Interim Nod to Use Cash Collateral
GSC GROUP: Taps Kaye Scholer to Handle Restructuring Case
GSC GROUP: Asks for Approval of Epiq as Claims & Noticing Agent

GSC GROUP: Wants to Hire Capstone Advisory as Financial Advisor
GUARANTY BANK: Wisc. Bank Rated E+ by Weiss Ratings
GULF STATE: Fla. Bank Rated E- by Weiss Ratings
GUNNISON VALLEY: Utah Bank Rated E- by Weiss Ratings
GWINNETT COMMUNITY: Ga. Bank Rated E- by Weiss Ratings

HABERSHAM BANK: Ga. Bank Rated E- by Weiss Ratings
HANMI BANK: Calif. Bank Rated E by Weiss Ratings
HARRISBURG, PA: Places Services Ahead of Debt Payment
HARVEST BANK: Md. Bank Rated E+ by Weiss Ratings
HAVEN TRUST: Fla. Bank Rated E- by Weiss Ratings

HERITAGE BANK: Kan. Bank Rated E- by Weiss Ratings
HERITAGE BANK: Ga. Bank Rated E- by Weiss Ratings
HERITAGE BANKING: Miss. Bank Rated E- by Weiss Ratings
HERITAGE COMMUNITY: N.J. Bank Rated E by Weiss Ratings
HERITAGE FIRST: Ala. Bank Rated E+ by Weiss Ratings

HIGH TRUST: Ga. Bank Rated E- by Weiss Ratings
HIGHLAND BANK: Minn. Bank Rated E- by Weiss Ratings
HIGHLANDS UNION: Va. Bank Rated E+ by Weiss Ratings
HILLCREST BANK: Kan. Bank Rated E- by Weiss Ratings
HOME SAVINGS: Minn. Bank Rated E+ by Weiss Ratings

HOMESTAR BANK: Ill. Bank Rated E+ by Weiss Ratings
HOMESTREET BANK: Wash. Bank Rated E- by Weiss Ratings
HOMETOWN COMMUNITY: Ga. Bank Rated E- by Weiss Ratings
HOMETOWN NATIONAL: Wash. Bank Rated E- by Weiss Ratings
HORIZON BANK: Fla. Bank Rated E- by Weiss Ratings

HUMBOLDT INTERNATIONAL: Case Summary & 20 Largest Unsec Creditors
IDAHO BANKING: Idaho Bank Rated E by Weiss Ratings
IDAHO FIRST: Idaho Bank Rated E- by Weiss Ratings
INDEPENDENCE FSB: D.C. Bank Rated E- by Weiss Ratings
INDEPENDENCE STATE: Wisc. Bank Rated E+ by Weiss Ratings

INDEPENDENT BANKERS: Fla. Bank Rated E- by Weiss Ratings
INDIANA COMMUNITY: Ind. Bank Rated E+ by Weiss Ratings
INNKEEPERS USA: Committee Proposes Info Sharing Protocol
INNKEEPERS USA: Committee to Probe on Possible Wrongdoing
INNKEEPERS USA: Panel Wins Nod to Hire Morrison & Foerster

INNKEEPERS USA: Wins Final Approval to Access Cash Collateral
INSOUTH BANK: Tenn. Bank Rated E+ by Weiss Ratings
INTEGRA BANK: Ind. Bank Rated E- by Weiss Ratings
INTER SAVINGS: Minn. Bank Rated E- by Weiss Ratings
ISN BANK: N.J. Bank Rated E- by Weiss Ratings

JEFFERSON BANK: Tex. Bank Rated E- by Weiss Ratings
JOHN GALLATY: Case Summary & 15 Largest Unsecured Creditors
JORGE GARCIA: Case Summary & 20 Largest Unsecured Creditors
K BANK: Md. Bank Rated E- by Weiss Ratings
KILEY RANCH: Housing Crash Prompted Bankruptcy Filing

LAKE COUNTRY: Minn. Bank Rated E- by Weiss Ratings
LAKEVIEW BANK: Minn. Bank Rated E- by Weiss Ratings
LANDMARK BANK: Fla. Bank Rated E- by Weiss Ratings
LEGACY BANK: Ariz. Bank Rated E- by Weiss Ratings
LEGACY BANK: Fla. Bank Rated E by Weiss Ratings

LEHMAN BROTHERS: JPMorgan Asks for Dismissal of Lawsuit
LEHMAN BROTHERS: LBI SIPA Trustee Files Preliminary Report
LEHMAN BROTHERS: Merit LLC Wants Plan Exclusivity Until February
LEHMAN BROTHERS: Proposes Compromise With SunCal Debtors
LEHMAN BROTHERS: Proposes Settlement With Aurora Bank

LEHMAN BROTHERS: Proposes Settlement With Woodlands
LESTER BELCHER, III: Case Summary & 2 Largest Unsecured Creditors
LIBERTY SAVINGS: Pa. Bank Rated E- by Weiss Ratings
LONE TREE: Gets Interim Nod to Sell Homes & Residential Lots
LONE TREE: Gets Court's Interim Nod to Obtain DIP Financing

LOWELL CO-OP: Mass. Bank Rated E- by Weiss Ratings
MACATAWA BANK: Mich. Bank Rated E- by Weiss Ratings
MARITIME SAVINGS: Wisc. Bank Rated E- by Weiss Ratings
MAULDING DEV'T: Section 341(a) Meeting Scheduled for Oct. 22
MBANK: Ore. Bank Rated E- by Weiss Ratings

MCCLAVE STATE: Colo. Bank Rated E+ by Weiss Ratings
MCINTOSH STATE: Ga. Bank Rated E- by Weiss Ratings
MEDLINK INTERNATIONAL: Earns $359,400 in June 30 Quarter
MEXICANA AIRLINES: ASUR Updates Impact of Firm's Suspension
MERAMEC VALLEY: Mo. Bank Rated E by Weiss Ratings

MERRIMAC SB: Mass. Bank Rated E by Weiss Ratings
MERRIMAC SB: Mass. Bank Rated E by Weiss Ratings
METROPOLITAN NATIONAL: Ark. Bank Rated E- by Weiss Ratings
METROPCS WIRELESS: Moody's Assigns 'B2' Rating on $500 Mil. Notes
METROPCS WIRELESS: S&P Puts B Issue-Level Rating on $500MM Notes

MICHAEL WATKINS: Case Summary & 20 Largest Unsecured Creditors
MICHIGAN COMMERCE: Mich. Bank Rated E- by Weiss Ratings
MIDWEST COMMUNITY: Kan. Bank Rated E- by Weiss Ratings
MIKE TYSON: S.D.N.Y. Reverses Gibralter Veil-Piercing Ruling
MILFORD BUILDING: Ill. Bank Rated E- by Weiss Ratings

MILLENNIUM BANK: Va. Bank Rated E- by Weiss Ratings
MILTON SB: Wisc. Bank Rated E- by Weiss Ratings
MONROE BANK: Mich. Bank Rated E- by Weiss Ratings
MONTGOMERY BANK: Ga. Bank Rated E- by Weiss Ratings
MORAN LAKE: Section 341(a) Meeting Scheduled for Sept. 30

MOTHER LODE: Calif. Bank Rated E- by Weiss Ratings
MOUNTAIN 1ST: N.C. Bank Rated E by Weiss Ratings
MOUNTAIN HERITAGE: Ga. Bank Rated E- by Weiss Ratings
NANTAHALA BANK: N.C. Bank Rated E by Weiss Ratings
NASHVILLE SENIOR: Stays Required When Co-Owned Property Is Sold

NATIONAL AUTOMATION: Incurs $819,500 Net Loss in June 30 Quarter
NATIONAL ENVELOPE: December 7 Fixed as Governmental Unit Bar Date
NATIONAL ENVELOPE: Files Schedules of Assets and Liabilities
NATIONAL ENVELOPE: Gores Group Completes Sec. 363 Purchase
NATIVE AMERICAN: Colo. Bank Rated E- by Weiss Ratings

NBRS FINANCIAL: Md. Bank Rated E+ by Weiss Ratings
NEAL ELINOFF: Case Summary & 20 Largest Unsecured Creditors
NEFF CORP: Unsecured Creditors Attack Chapter 11 Plan
NEIGHBORHOOD NATIONAL: Minn. Bank Rated E+ by Weiss Ratings
NEVADA COMMERCE: Nev. Bank Rated E- by Weiss Ratings

NEW HORIZONS: Ga. Bank Rated E- by Weiss Ratings
NEXITY BANK: Ala. Bank Rated E- by Weiss Ratings
NEXTIER BANK: Pa. Bank Rated E+ by Weiss Ratings
NORTEL NETWORKS: Court OKs Bid Process for Switch Business
NORTEL NETWORKS: Files Disclosure Statement to Chapter 11 Plan

NORTEL NETWORKS: Proposes Protocol for Settling Prepetition Claims
NORTH ALABAMA: Ala. Bank Rated E by Weiss Ratings
NORTH COUNTY: Wash. Bank Rated E- by Weiss Ratings
NORTH GEORGIA: Ga. Bank Rated E- by Weiss Ratings
NORTHERN STAR: Minn. Bank Rated E by Weiss Ratings

NORTHPOINTE BANK: Mich. Bank Rated E- by Weiss Ratings
NORTHSIDE BANK: Ga. Bank Rated E- by Weiss Ratings
NORTHWEST GEORGIA: Ga. Bank Rated E- by Weiss Ratings
NOVA BANK: Pa. Bank Rated E- by Weiss Ratings
OCEAN VIEW: Voluntary Chapter 11 Case Summary

OLDE PRAIRIE: Must File Plan to Oppose Centerpoint's Stay Relief
OTC HOLDINGS: DIP Financing, Cash Collateral Use Gets Interim OK
OWENS-ILLINOIS INC: S&P Affirms 'BB+' Corporate Credit Rating
PARKER PROPERTIES: Case Summary & 5 Largest Unsecured Creditors
PCS HOMES: Housing Market Woe Prompts Chapter 11 Bankruptcy Filing

PEANUT CORP: Salmonella Settlements Approved
PETER INDORF: Case Summary & 20 Largest Unsecured Creditors
PIERRE FOODS: S&P Affirms Corporate Credit Rating at 'B'
PITCAIRN PROPERTIES: Court Dismisses Chapter 11 Bankruptcy Case
QUIGLEY CO.: Court Rejects 4th Reorganization Plan

RANCHO MALIBU: Taps Weintraub & Selth as Bankruptcy Counsel
RICKY VAN VLEET: Contempt Sanctions Were Civil, Not Criminal
ROBERT GORDON: Case Summary & 20 Largest Unsecured Creditors
ROGER D'ANNA: Involuntary Chapter 11 Case Summary
SALON MEDIA: Posts $817,000 Net Loss in June 30 Quarter

SAM HUSARY: Case Summary & 15 Largest Unsecured Creditors
SOLAR ENERTECH: Posts $658,000 Net Loss in June 30 Quarter
STANOCOLA MEDICAL: Foreclosure Action Prompts Ch. 11 Filing
STATES INDUSTRIES: Case Summary & 20 Largest Unsecured Creditors
TELIPHONE CORP: Reports $96,400 Net Income in June 30 Quarter

THOMAS GROUP: Regains NASDAQ Compliance for Continued Listing
TITAN INTERNATIONAL: Notes Tender Deal Cues Moody's Rating Cut
TRADE SECRET: U.S. Trustee Wants Chapter 11 Trustee Appointed
TRUVO USA: Default Swaps on Loans to Be Settled at Today's Auction
TRUVO USA: Wins Approval for Bankruptcy Plan Voting

UNITED COMPONENTS: S&P Retains CreditWatch Positive on 'B-' Rating
UNIVERSAL BUILDING: Creditors Panel Want Chapter 11 Trustee
US AIRWAYS: Pilots Ink Alliance With Brotherhood of Teamsters
VALLEY MHP: Case Summary & Largest Unsecured Creditor
VICTOR MELLOR: Case Summary & 20 Largest Unsecured Creditors

US AIRWAYS: Pilots Protest Low Pay, Pace of Contract Talks
VPI COMPANY: Case Summary & 2 Largest Unsecured Creditors
WASTE2ENERGY HOLDINGS: Posts $4MM Net Loss in June 30 Quarter
WILLAMETTE DEVELOPMENT: Case Summary & Creditors List
WINALTA INC: Gets Fourth Extension of CCAA Protection Until Sept 7

YELLOWSTONE MOUNTAIN: Credit Suisse Can't Collect From Founder
YELLOWSTONE MOUNTAIN: Judge Orders Founder to Pay $40MM

* HIG's Distressed-Debt Arm Raises $1.1 Billion in Funding
* Hilco Real Estate Disclosed Bankruptcy Sale Country Estate
* Mariner Buying 40% Stake in Co. Holding Failed Banks' Assets

* Kramer Levin Adds Two Lateral Partners for PE Practice
* Reed Smith's Kurt Gwynne One of Law360's Most Admired Lawyers

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

                            *********

2001 PROPERTIES: Section 341(a) Meeting Scheduled for Oct. 4
------------------------------------------------------------
The U.S. Trustee for Region 19 will convene a meeting of 2001
Properties, LLC's creditors on October 4, 2010, at 10:00 a.m.  The
meeting will be held at 1961 Stout Street, Room 239, Denver, CO
80202.

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.

Mission Hills, Kansas-based 2001 Properties, LLC, filed for
Chapter 11 bankruptcy protection on August 31, 2010 (Bankr. D.
Colo. Case No. 10-32331).  Guy B. Humphries, Esq., in Denver,
Colorado, assists the Debtor in its restructuring effort.  The
Debtor estimated assets and debts at $10 million to $50 million in
its Chapter 11 petition.


2001 PROPERTIES: Taps Taps Guy Humphries as Bankruptcy Counsel
--------------------------------------------------------------
2001 Properties, LLC, asks for authorization from the U.S.
Bankruptcy Court for the District of Colorado to employ Guy
Humphries as bankruptcy counsel.

Mr. Humphries will, among other things:

     (a) analyze the Debtor's financial situation and render
         advice concerning a plan of reorganization;

     (b) provide legal advice concerning its powers and duties as
         a debtor-in-possession;

     (c) prepare and file any petition, schedules, statement of
         affairs and any other required documents; and

     (d) represent the Debtor at the meeting of creditors and all
         hearings related to this case.

Mr. Humphries will be paid $300 per hour for services provided to
the Debtor.  Attorneys at Mr. Humphries' firm will be paid
$120 per hour while paralegals will be paid $75.

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

Mission Hills, Kansas-based 2001 Properties, LLC, filed for
Chapter 11 bankruptcy protection on August 31, 2010 (Bankr. D.
Colo. Case No. 10-32331).  The Debtor estimated assets and debts
at $10 million to $50 million in its Chapter 11 petition.


2626 BWAY: Axed Deal Prompts Chapter 11 Bankruptcy Filing
---------------------------------------------------------
2626 BWAY LLC sought Chapter 11 protection on Sept. 3, 2010
(Bankr. S.D.N.Y. Case No. 10-14731)

2626 BWAY LLC owns the The Metro Theater at 2626 Broadway, a
landmarked Upper West Side building, between West 99th and West
100th streets in Manhattan.

Amanda Fung at Crain's New York Business reports that the building
was supposed to be home to an Urban Outfitters, but that deal fell
through last year as a result of a dispute between the master
lease holder, John Souto, and the building's owner, Albert Bialek.
Mr. Souto holds a 49-year lease on the property and had an option
to buy the building outright at an undisclosed price in 2008.

Besen & Associates and Besen Retail was retained to simultaneously
sell or lease the property about eight months ago, says Ms. Fung,
citing papers filed with the Court.

Arnold Mitchell Greene, Esq., at Robinson Brog Leinwand Greene
Genovese & Gluck, P.C., in New York, serves as cousnel to the
Debtor.  The Debtor estimated assets of $10 million to $50 million
and debts of $1 million to $10 million in its Chapter 11 petition.


ACTION PRODUCTS: Working Towards Debt Restructuring
---------------------------------------------------
Action Products International, Inc. is in discussions for the
completion of a reverse merger with or acquisition of a private
company.  If completed, the move would bring a solid operating
business into the company.  In addition, Action Products is
working on obtaining financing to pay off existing liabilities or
other debt consolidation plan.  Until now, the company had
considered bankruptcy as its only option.  The anticipated
measures would allow the company to move forward quickly.

Upon completion of the debt financing, the company will have zero
liabilities and be primed for the completion of a merger or
acquisition.  Additional details are expected within the next
couple of weeks.  In addition, plans continue towards legal action
against former officers and directors.


AMERICAN BIO: Reports $167,000 Net Income in June 30 Quarter
------------------------------------------------------------
American Bio Medica Corporation filed its quarterly report on Form
10-Q, reporting net income of $167,000 on $3.1 million of revenue
for the three months ended June 30, 2010, compared with a net loss
of $219,000 on $2.8 million of revenue for the same period last
year.

The Company believes that it may need to raise additional capital
in the future to continue operations.

The Company's balance sheet at June 30, 2010, showed $7.2 million
in total assets, $3.9 million in total liabilities, and
stockholders' equity of $3.3 million.

Following the Company' 2009 results, UHY LLP, in Albany, N.Y.,
expressed substantial doubt about the Company's ability to
continue as a going concern.  The independent auditors noted of
the Company's recurring losses from operations and liquidity
constraints.

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

               http://researcharchives.com/t/s?6ae1

Kinderhook, N.Y.-based American Bio Medica Corporation develops,
manufactures and sells immunoassay diagnostic tests, primarily for
the immediate, point of collection testing for drugs of abuse in
urine and oral fluids.


AMERICAN SAFETY: Sept. 20 Bid Deadline; Auction Set for Sept. 23
----------------------------------------------------------------
The Honorable Mary F. Walrath approved bidding procedures proposed
by American Safety Razor Company, LLC, and its debtor-affiliates
that require all bids to purchase substantially all of the
debtors' assets to be submitted by 5:00 p.m. on Sept. 20, 2010,
and schedules an auction to be conducted at 10:00 a.m. on Sept.
23, 2010.  As reported in the Troubled Company Reporter, the
Debtors have agreed, subject to any higher and better offers, to
sell their assets to RZR Acquisition Company, LLC, RZR Holding
Corporation, and USB AG, Stmford Branch.  BlackRock Kelso Capital
Corp and GSO/Blackstone Debt Funds Management LLC, who together
hold about $49.2 million of American Safety Razor's second-lien
debt, oppose that deal.

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

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


ANDY MORGAN: Voluntary Chapter 11 Case Summary
----------------------------------------------
Joint Debtors: Andy Roy Morgan
               Beverly Elaine Morgan
               172 Hickory Road
               Naples, FL 34108

Bankruptcy Case No.: 10-20348

Chapter 11 Petition Date: August 25, 2010

Court: United States Bankruptcy Court
       Middle District of Florida (Ft. Myers)

Judge: David H. Adams

Debtor's Counsel: Valencia D Richards-Hayes, Esq.
                  120 South Del Prado Boulevard, Suite 1
                  Cape Coral, FL 33990
                  Tel: (239) 772-0351
                  Fax: (239) 772-0352
                  E-mail: valencia@willclose.com

Scheduled Assets: $2,669,983

Scheduled Debts: $3,335,064

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


ARRAY BIOPHARMA: June 30 Balance Sheet Upside-Down by $116.7MM
--------------------------------------------------------------
Array BioPharma Inc. filed its annual report on Form 10-K,
reporting a net loss of $77.6 million on $53.9 million of revenue
for the fiscal year ended June 30, 2010, compared with a net loss
of $127.8 million on $25.0 million of revenue for fiscal 2009.

The Company has incurred operating losses and an accumulated
deficit as a result of ongoing research and development spending.
As of June 30, 2010, the Company had an accumulated deficit of
$490.8 million.

The Company's balance sheet at June 30, 2010, showed
$159.2 million in total assets, $275.9 million in total
liabilities, and a stockholders' deficit of $116.7 million.

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

               http://researcharchives.com/t/s?6ae6

                      About Array BioPharma

Boulder, Colo.-based Array BioPharma Inc. (NASDAQ: ARRY)
-- http://www.arraybiopharma.com/-- is a biopharmaceutical
company focused on the discovery, development and
commercialization of targeted small-molecule drugs to treat
patients afflicted with cancer and inflammatory diseases.  The
Company's proprietary drug development pipeline includes clinical
candidates that are designed to regulate therapeutically important
target proteins and are aimed at significant unmet medical needs.


BARK GROUP: Posts $2.3 Million Net Loss in June 30 Quarter
----------------------------------------------------------
Bark Group Inc. filed its quarterly report on Form 10-Q, reporting
a net loss available to controlling interest of $2.26 million on
$3.36 million of revenue for the three months ended June 30, 2010,
compared with a net loss available to controlling interest of
$764,000 on $695,000 of revenue for the same period last year.

As at June 30, 2010, and December 31, 2009, the Company had cash
of $9,000 and $5,000, respectively.  The Company's working capital
deficit increased from $5.81 million at December 31, 2009, to
$6.56 million at June 30, 2010, an increase of $746,000.  The
increase in working capital deficit is due to convertible notes
obtained in 2010 with a maturity of less than 12 months.  At
June 30, 2010, the aggregated outstanding amount of these notes
was approximately $927,000.

The Company's balance sheet as of June 30, 2010, showed
$13.94 million in total assets, $13.76 million in total
liabilities, and stockholders' equity of $178,000.

As reported in the Troubled Company Reporter on April 23, 2010,
Marcum LLP, in New York, expressed substantial doubt about the
Company's ability to continue as a going concern, following its
2009 results.  The independent auditors noted that the Company has
not achieved a sufficient level of revenues to support its
business and has suffered recurring losses from operations.

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

               http://researcharchives.com/t/s?6ae3

                         About Bark Group

Based in Copenhagen K, Denmark, Bark Group Inc. (OTC BB: BKPG)
-- http://bark-group.com/-- is a commercial communication
services company that provides integrated traditional and new
media advertising and marketing consulting services to its
clients, which comprise primarily of European businesses that
range in size from small local businesses to larger trans-national
and multinational corporations.  These clients include a range of
businesses including financial institutions and banks, consumer
products companies and luxury goods companies.


BLACK RAVEN: Incurs $1.1 Million Net Loss in June 30 Quarter
------------------------------------------------------------
Black Raven Energy, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $1.1 million on $88,000 of revenue for the
three months ended June 30, 2010, compared with a net loss of
$934,000 on $94,000 of revenue for the same period last year.

At June 30, 2010, cash and cash equivalents totaled approximately
$6,000.  At June 30, 2010, the Company had a working capital
deficit of $704,000 compared to working capital of $750,000 at
December 31, 2009.  The Company had an accumulated deficit of
$36.9 million at June 30, 2010.

The Company's balance sheet at June 30, 2010, showed $12.3 million
in total assets, $19.7 million in total liabilities, and a
stockholders' deficit of $7.4 million.

As reported in the Troubled Company Reporter on April 14, 2010,
Deloitte & Touche LLP, in Denver, expressed substantial doubt
about the Company's ability to continue as a going concern,
following its 2009 results.  The independent auditors noted of the
Company's recurring losses from operations and a stockholders'
deficit.

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

               http://researcharchives.com/t/s?6ae0

                        About Black Raven

Denver, Colo.-based Black Raven Energy, Inc., formerly known as
PRB Energy, Inc., currently operates as an independent energy
company engaged in the acquisition, exploitation, development and
production of natural gas and oil in the Rocky Mountain Region of
the United States.  On February 2, 2009, in connection with its
emergence from bankruptcy, PRB Energy changed its corporate name
to Black Raven Energy, Inc.

On March 5, 2008, PRB Energy, Inc. and its subsidiaries filed
voluntary petitions for relief under Chapter 11 of the Bankruptcy
Code in the U.S. Bankruptcy Court for the District of Colorado.
On January 16, 2009, the Bankruptcy Court entered an order
confirming PRB Energy reorganization plan.  The Plan became
effective February 2, 2009.


BOOMERANG SYSTEMS: Posts $3.7 Million Net Loss in June 30 Quarter
-----------------------------------------------------------------
Boomerang Systems, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $3.7 million on $254,700 of revenue for
the three months ended June 30, 2010, compared with a net loss of
$1.6 million on no revenue for the three months ended June 30,
2009.

The Company's balance sheet at June 30, 2010, showed $1.4 million
in total assets, $5.6 million in total liabilities, and a
stockholders' deficit of $4.2 million.

Liebman Goldberg & Hymowitz, LLP, in Garden City, New York,
expressed substantial doubt about the Company and its
subsidiaries' ability to continue as a going concern, following
its results for the fiscal year ended September 30, 2009.  The
independent auditors noted that the Company has suffered
recurring losses from operations and has a net capital deficiency.

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

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

Headquartered in Morristown, New Jersey, Boomerang Systems, Inc.
(Pink Sheets: BMER) through its wholly owned subsidiary, Boomerang
Utah, is engaged in the design, development, and marketing of
automated racking and retrieval systems for automobile parking and
automated racking and retrieval of containerized self-storage
units.


BOURLAND & LEVERICH: S&P Assigns Corporate Credit Rating at 'B'
---------------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned its 'B'
corporate credit rating to Pampa, Texas-based Bourland & Leverich
Supply Co. LLC.  The rating outlook is stable.

At the same time, S&P assigned a 'B+' issue-level rating (one
notch above the corporate credit rating) to the company's $125
million senior secured term loan due 2015.  The recovery rating is
'2', indicating the expectation of substantial (70%-90%) recovery
in the event of a payment default.

Proceeds from the term loan, combined with borrowings under the
company's new asset-based revolving credit facility and cash
equity, were used to fund the acquisition of B&L by the
combination of Jefferies Capital Partners, Edgen Murray II L.P.
(B/Negative/--), and other investors.

The rating and outlook reflect S&P's assumption that the company
will sell around 330,000 tons of oil country tubular goods at an
average price of around $1,800 per ton in 2010.  Under these
assumptions, S&P believes Bourland & Leverich will generate around
$55 million in EBITDA during fiscal 2010 compared to around
$123 million during the prior year.

The pro forma capital structure somewhat supports this level of
earnings as S&P expects debt leverage to be about 4x, reflecting
total debt of around $200 million, which includes the $50 million
seller note, at Sept. 30, 2010, the end of the current fiscal
year.  S&P considers this level of debt leverage appropriate for
the rating and expect it to remain at or below that level at least
through 2011.  This is due to S&P's expectation of relatively flat
earnings growth in 2011 amid modestly higher volumes coupled with
some gross margin compression and modest debt reduction.  These
measures are consistent with S&P's financial risk assessment of
aggressive.

"The ratings on Bourland & Leverich reflect what S&P considers to
be the company's vulnerable business risk profile and significant
financial risk profile, including its exposure to the cyclical and
sometimes volatile U.S. oil and gas drilling activity, modest size
and scope, exposure to volatile steel prices, and significant
financial leverage," said Standard & Poor's credit analyst Sherwin
Brandford.  "Still, the company benefits from its low capital
spending requirements and relatively good market share in OCTG."


BRISTOW GROUP: S&P Affirms 'BB' Issue-Level Ratings on Unsec. Debt
------------------------------------------------------------------
Standard & Poor's Ratings Services revised its recovery rating on
Bristow Group Inc.'s unsecured debt to '3' from '4', indicating
S&P's expectation for meaningful recovery in the range of 50%-70%
in an event of default.  At the same time, S&P affirmed its 'BB'
issue-level ratings on this debt (the same as the corporate credit
rating).

"The change in the recovery ratings reflects an increase in S&P's
default valuation for Bristow based in part on a shift in S&P's
approach to estimating the default value for the company from an
EBITDA-based valuation to an asset-based valuation," said Standard
& Poor's credit analyst Marc Bromberg.  "While S&P thinks it
likely that the company would continue to operate as a going
concern if it were to default, S&P believes the asset-based
valuation approach, albeit with large discounts to the balance
sheet values, is appropriate given the asset-heavy nature of
Bristow's balance sheet," the analyst continued.  A revised
recovery report for Bristow will be published shortly to more
fully explain S&P's updated recovery analysis.

The corporate credit rating on Bristow Group Inc., a U.S.-based
helicopter services provider, is 'BB', with a stable rating
outlook.  For the corporate credit rating rationale, see the
summary analysis on Bristow published on April 8, 2010.

                          Ratings List

                         Bristow Group Inc.

         Corporate Credit Rating             BB/Stable/--

             Rating Affirmed; Recovery Rating Revised

                         Bristow Group Inc.

                                         To               From
                                         --               ----
     Unsecured Debt                      BB               BB
       Recovery Rating                   3                4


BRUCE ROTHBERG: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Joint Debtors: Bruce J. Rothberg
                 ods Bruce J. Rothberg, Inc.
                 dba BJR Enterprises
                 dba Rothberg Realty Group
                 mem B&W Holdings, LLC
                 mem 7261B, LLC
                 mem 7265C, LLC
                 mem 7275A, LLC
                 mem 7312D, LLC
                 mem 7233B, LLC
                 ptr Jamaica Arms Partnership, LP
                 fmem Peoria 33, LLC
                 fdba Bruce Rothberg Properties
                 dba Red Mountain Enterprise
                 mem The Real Team, LLC
                 mem Big Investment Group, LLC
               Lori A. Lakey
                 mem The Real Team, LLC
                 mem 7251A, LLC
                 mem 7265A, LLC
                 mem 7271C, LLC
                 mem 7271E, LLC
                 mem 7305C, LLC
                 mem 7307D, LLC
                 mem 7202, LLC
                 mem Red Mountain Enterprises, LLC
                 ptr Jamaica Arms Partnership, LP
                 fdba Lori Lakey Properties
                 dba Red Mountain Enterprises
                 mem The Real Team, LLC
                 mem Big Investment Group, LLC
               Lori Rothberg
                 dba Millenium Property Services
               6359 S Locust Way
               Centennial, CO 80111

Bankruptcy Case No.: 10-31550

Chapter 11 Petition Date: August 24, 2010

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: Howard R. Tallman

Debtor's Counsel: Harvey Sender, Esq.
                  SENDER & WASSERMAN, P.C.
                  1660 Lincoln St., Suite 2200
                  Denver, CO 80264
                  Tel: (303) 296-1999
                  Fax: (303) 296-7600
                  E-mail: Sendertrustee@sendwass.com

Scheduled Assets: $2,311,449

Scheduled Debts: $4,840,109

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cob10-31550.pdf


CANWEST GLOBAL: Gets Nov. 5 Extension of Stay Period Under CCAA
---------------------------------------------------------------
Canwest Global Communications Corp. disclosed that the Ontario
Superior Court of Justice has granted the request by Canwest,
Canwest Media Inc. and certain of its subsidiaries for an
extension of the stay period granted under the Companies'
Creditors Arrangement Act to November 5, 2010.

In the Initial Order obtained by the CMI Entities under the CCAA
on October 6, 2009, the Court provided a 30 day stay period which
it has extended on several occasions, most recently to
September 8, 2010.

The transaction between Canwest and Shaw Communications Inc.
contemplated by the restated consolidated plan of compromise,
arrangement and reorganization, sanctioned by the Court on
July 28, 2010, remains subject to certain conditions, including
receipt of Canadian Radio-television and Telecommunications
Commission approval.  Public hearings in respect of the proposed
transaction are scheduled to begin before the CRTC on
September 20, 2010.  On the closing date of the transaction, the
shares of Canwest will be delisted from the TSX Venture Exchange.

                      About Canwest Global

Canwest Global Communications Corp. (TSX: CGS and CGS.A) --
http://www.canwest.com/-- an international media company, is
Canada's largest media company.  In addition to owning the Global
Television Network, Canwest is Canada's largest publisher of
English language daily newspapers and owns, operates and holds
substantial interests in conventional television, out-of-home
advertising, specialty cable channels, web sites and radio
stations and networks in Canada, New Zealand, Australia, Turkey,
Indonesia, Singapore, the United Kingdom and the United States.

On October 6, 2009, Canwest Global, Canwest Media Inc., Canwest
Television Limited Partnership (including Global Television,
MovieTime, DejaView and Fox Sports World), The National Post
Company and certain subsidiaries voluntarily entered into, and
successfully obtained an Order from the Ontario Superior Court of
Justice (Commercial Division) commencing proceedings under the
Companies' Creditors Arrangement Act.  The CMI Entities'
commencement of these proceedings was undertaken in furtherance of
a proposed recapitalization transaction that is supported by over
70% of holders of the 8% senior subordinated notes issued by CMI.
On the same day, FTI Consulting Canada Inc., the Court-appointed

Monitor in the CCAA proceedings, sought protection in the United
States Bankruptcy Court under Chapter 15 of the United States
Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 09-15994) for
certain of the entities involved in Canwest's television business
that filed for protection under the CCAA, including Canwest,
Canwest Media Inc. and Canwest Global Broadcasting
Inc./Radiodiffusion Canwest Global Inc.  Judge Stuart M. Bernstein
presides over the Chapter 15 cases.  Evan D. Flaschen, Esq., at
Bracewell & Giuliani LLP, in Hartford, Connecticut, serves as
Chapter 15 Petitioner's counsel.  The Chapter 15 Debtors disclosed
estimated assets of $500 million to $1 billion and estimated debts
of $50 million to $100 million.  In a regulatory filing with the
U.S. Securities and Exchange Commission, Canwest Media disclosed
C$4,847,020,000 in total assets and C$5,826,522,000 in total
liabilities at May 31, 2009.  Bankruptcy Creditors' Service, Inc.,
publishes Canwest Bankruptcy News.  The newsletter tracks the CCAA
proceedings and Chapter 15 proceedings undertaken by Canwest
Global Communications Corp. and its affiliates
(http://bankrupt.com/newsstand/or 215/945-7000).


CENTERVIEW INVESTMENTS: Case Summary & Creditors List
-----------------------------------------------------
Debtor: Centerview Investments Owner, LLC
        5550 Sterett Place, Suite 312
        Columbia, MD 21044

Bankruptcy Case No.: 10-29406

Chapter 11 Petition Date: August 24, 2010

Court: U.S. Bankruptcy Court
       District of Maryland (Baltimore)

Judge: Duncan W. Keir

Debtor's Counsel: James A. Vidmar, Jr., Esq.
                  LOGAN, YUMKAS, VIDMAR & SWEENEY LLC
                  2530 Riva Road, Suite 400
                  Annapolis, MD 21401
                  Tel: (443) 569-5977
                  Fax: (410) 571-2798
                  E-mail: jvidmar@loganyumkas.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 two largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/mdb10-29406.pdf

The petition was signed by Scott Yoo, authorized member.


CENTRIX FINANCIAL: Court Supports Contract Assumption Defense
-------------------------------------------------------------
Addressing an issue of apparent first impression in the Tenth
Circuit, WestLaw reports, a Colorado bankruptcy court joined with
the majority of courts and held that a debtor's payments, made on
an executory contract that was later assumed by the estate, cannot
be recovered through use of the bankruptcy trustee's avoidance
powers.  In other words, the "contract assumption defense" is a
complete bar to the exercise of a trustee's avoidance powers.
Assumption under 11 U.S.C. Sec. 365 is fundamentally inconsistent
with recovery of payments under the avoidance powers.  In re
Centrix Financial, LLC, --- B.R. ----, 2010 WL 3153550 (Bankr. D.
Colo.) (Brown, J.).

Jeffrey A. Weinman, the liquidating trustee of the Centrix
Liquidating Trust, sued (Bankr. D. Colo. Adv. Pro. No. 08-01576)
Allison Payment Systems, LLC, to recover postpetition payments
under a professional services contract and a postage accounts
contract calling under which Allison provided postage metering and
mailing services to the debtor that were made after those
contracts were assumed by Centrix.  The Honorable Elizabeth E.
Brown held that the so-called "contract assumption defense" is a
complete bar to the exercise of a trustee's avoidance powers and
dismissed Mr. Weinman's complaint.

Based in Reno, Nevada, Centrix Financial LLC was a subprime
auto lender.

Three of Centrix Financial's creditors, IFC Credit Corporation,
Suntrust Leasing, and Wells Fargo Equipment Finance, filed an
involuntary chapter 11 petition against the Debtors (Bankr.
D. Colo. Case No. 06-16403) on Sept. 15, 2006, alleging more
than $4.6 million owed.  Lee M. Kutner, Esq., at Kutner Miller,
P.C., and David von Gunten, Esq., at Von Gunten Law LLC,
represent the petitioners.

Centrix and some affiliates filed voluntary Chapter 11
petitions (Bankr. D. Nev. Case No. 06-50631) on Sept. 19,
2006.  CMGN LLC, another affiliate, filed its Chapter 11
petition (Bankr. D. Nev. Case No. 06-50631) on Sept. 4, 2006.

The Debtors' cases were consolidated and transferred (Bankr.
D. Colo. Case No. 06-16403) on Sept. 27, 2006.  Craig D.
Hansen, Esq., Thomas J. Salerno, Esq., and Sean T. Cork, Esq.,
at Squire, Sanders & Dempsey, L.L.P.; and Lawrence Bass,
Esq., and Elizabeth K. Flaagan, Esq., at Holme Roberts & Owen LLP,
represent the Debtors.  The Official Committee of Unsecured
Creditors is represented by Douglas W. Jessop, Esq., and Kerstin
E. Kass, Esq., at Jessop & Company, P.C., and Michael P. Richman,
Esq., at Foley & Lardner LLP.  Kurtzman Carson Consultants LLC
is the Debtors' claims agent.  In it Schedules filed with the
Court, Centrix Financial disclosed total assets of $23,928,171
and total debts of $109,189,359.

On February 6, 2007, the Bankruptcy Court authorized the sale of
substantially all of the Debtors' assets.  In late-2007, the
Debtors proposed a liquidating chapter 11 plan, and the Honorable
Elizabeth E. Brown confirmed that plan in early-2008.  The Centrix
Liquidating Trust was created under that chapter 11 plan and
Jeffrey A. Weinman serves as the liquidating trustee.


CHANTICLEER HOLDINGS: Posts $114,125 Net Loss in June 30 Quarter
----------------------------------------------------------------
Chanticleer Holdings, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $114,125 on $42,921 of revenue for
the three months ended June 30, 2010, compared with net income of
$362,492 on $134,750 of revenue for the same period ended last
year.

At June 30, 2010 and December 31, 2009, the Company had current
assets of $70,824 and $60,180; current liabilities of $717,624 and
$735,651; and a working capital deficit of $646,800 and $675,471,
respectively.

The Company's balance sheet as of June 30, 2010, showed
$1.6 million in total assets, $1.0 million in total liabilities,
and stockholders' equity of $611,986.

Creason & Associates, P.L.L.C., in Tulsa, Okla., 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 planned expansion of business
for 2010 which will require substantial financing.  "In addition,
the Company has incurred substantial net losses and negative cash
flows from operations for the past two years, along with negative
working capital.  There can be no assurance that the Company will
be able to obtain sufficient funding to complete its business
expansion plan or will have sufficient revenues to fund its
operations and commitments."

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

               http://researcharchives.com/t/s?6ae2

                    About Chanticleer Holdings

Charlotte, N.C.-based Chanticleer Holdings, Inc. (OTC BB: CCLR)
-- http://www.chanticleerholdings.com/-- is a publicly traded
holding company.  It operates two wholly-owned operating
subsidiaries: Chanticleer Advisors, an investment manager; and
Avenel Ventures, a consulting firm.  Additionally, the company
owns several minority investments in private companies, including
an interest in a convertible note into Hooters of America, Inc.
Chanticleer Holdings, Inc. was formed in 2005 as a business
development company.  In 2008 the Company's shareholders elected
to convert to an operating holding company.


CHARLES BUCOLT: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Joint Debtors: Charles P. Bucolt
               Dagmar Bucolt
               4850 North Lake Drive
               Milwaukee, WI 53217

Bankruptcy Case No.: 10-33863

Chapter 11 Petition Date: August 24, 2010

Court: U.S. Bankruptcy Court
       Eastern District of Wisconsin (Milwaukee)

Judge: James E. Shapiro

Debtors' Counsel: Jonathan V. Goodman, Esq.
                  135 West Wells Street, Suite 340
                  Milwaukee, WI 53203
                  Tel: (414) 276-6760
                  E-mail: jgoodman@ameritech.net

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

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

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/wieb10-33863.pdf


CHEM RX: Nears Stalking Horse Deal; Seeks Exclusivity Extension
---------------------------------------------------------------
Dow Jones' DBR Small Cap reports Chem RX Corp. is seeking more
time to maintain control of its Chapter 11 case, saying it's on
the cusp of securing a lead bidder and kicking off its sale
process.  The company is asking a judge to extend its exclusive
right to file a Chapter 11 plan by 90 days.

DBR relates that Chem RX said it and its affiliates have been busy
since launching their bankruptcy filing in May, having spent much
time "diligently working with their lenders, the committee, and
prospective purchasers to negotiate and structure a sale process
that will maximize the value of their estates."  Now, those
efforts are close to fruition, with the company indicating it will
introduce a stalking horse and file a bid-procedures motion "in
the near term."  In addition, the company is engrossed in talks
with its first-lien lenders and the committee representing
unsecured creditors regarding how to wrap up the case in the wake
of the sale, according to DBR.

                           About Chem RX

Long Beach, N.Y.-based Chem RX Corporation, aka Paramount
Acquisition Corp. -- http://www.chemrx.net/-- is a major
institutional pharmacy serving the New York City metropolitan
area, as well as parts of New Jersey, upstate New York,
Pennsylvania and Florida.  Chem Rx's client base includes skilled
nursing facilities and a wide range of other long-term care
facilities.  Chem Rx annually provides more than six million
prescriptions to more than 69,000 residents of more than 400
institutional facilities.

The Company and five affiliates sought Chapter 11 protection
(Bankr. D. Del. Case No. 10-11567) on May 11, 2010.  Dennis
A. Meloro, Esq., and Scott D. Cousins, Esq., at Greenberg
Traurig, LLP, represents the Company in its restructuring.

Cypress Holdings, LLC, is the Company's financial advisor.  RSR
Consulting, LLC, is the Company's chief restructuring officer.
Brunswick Group LLP is the Company's public relations consultant.
Grant Thornton LLP is the Company's independent auditor.  Lazard
Middle Market LLC is the Company's investment banker.  Eichen &
Dimeglio PC is the Company's tax advisor.  Kurtzman Carson
Consultants is the Company's claims and notice agent.

The Company disclosed $169,690,868 in assets and $178,281,128
in debts as of February 28, 2010.


CHINA LOGISTICS: Incurs $937,300 Net Loss in June 30 Quarter
------------------------------------------------------------
China Logistics Group, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $937,350 on $5.8 million of revenue
for the three months ended June 30, 2010, compared with net income
of $132,387 on $4.6 million of revenue for the same period last
year.

At June 30, 2010, the Company had working capital of $209,766
compared to $163,820 at December 31, 2009, which remained at a
lower level in relation to the Company's working capital needs.

The Company had an accumulated deficit of $20.5 million at
June 30, 2010.

The Company's balance sheet at June 30, 2010, showed $6.5 million
in total assets, $6.2 million in total liabilities, and
stockholders' equity of $234,818.

As reported in the Troubled Company Reporter on April 21, 2010,
Lake & Associates CPA's LLC expressed substantial doubt about the
Company's ability to continue as a going concern, following its
2009 results.  The independent auditors noted of the Company's
recurring losses and accumulated deficit.

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

               http://researcharchives.com/t/s?6ae9

                      About China Logistics

Based in Guangzou, P.R. China, China Logistics, Inc., specializes
in logistical services for car manufacturers, car components, food
assortments, chemicals, paper, and machinery in China.  The
services cover various aspects of transportation management,
including logistical planning, import and export management,
electronic customs declaration systems, supply chain planning,
transporting products from ports to warehouses or vice versa,
organization of transportation, and storage and distribution of
products.


CITY MALL: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor: City Mall LP
        948 11th St. #11
        Modesto, CA 95354

Bankruptcy Case No.: 10-93322

Chapter 11 Petition Date: August 25, 2010

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

Judge: Ronald H. Sargis

Debtor's Counsel: David C. Johnston, Esq.
                  GIANELLI & ASSOCIATES
                  1014 16th St.
                  P.O. Box 3212
                  Modesto, CA 95353
                  Tel: (209) 521-6260
                  Fax: (209) 521-5971
                  E-mail: djohnston@gianelli-law.com

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

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

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

The petition was signed by Michael A. deRousi, general partner.


COLONIAL BANCGROUP: FDIC Refund Dispute still Not Resolved
----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Colonial BancGroup Inc. reached a partial compromise
with the Federal Deposit Insurance Corp. over who is entitled to
request tax refunds.  In an agreement approved Sept. 3 by the U.S.
Bankruptcy Judge in Montgomery, Alabama, the Colonial holding
company can file a tax return for 2009.  The bankruptcy judge is
also allowing the FDIC, in its role as receiver for the bank
subsidiary, to request a refund for 2009 on behalf of the bank.

According to Mr. Rochelle, pursuant to the partial compromise, any
refunds must be placed in a special escrow account to await court
determination about whether the refunds belong in the Chapter 11
case or in the receivership of the failed 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.


COMMERCE CENTRE: Involuntary Chapter 11 Case Summary
----------------------------------------------------
Alleged Debtor: Commerce Centre, L.L.C.
                15304 Highway 73
                Prairieville, LA 70769

Bankruptcy Case No.: 10-11295

Involuntary Chapter 11 Petition Date: August 24, 2010

Court: U.S. Bankruptcy Court
       Middle District of Louisiana (Baton Rouge)

Judge: Douglas D. Dodd

Petitioners' Counsel: Gary K. McKenzie, Esq.
                      STEFFES, VINGIELLO & MCKENZIE, LLC
                      13702 Coursey Boulevard, Building 3
                      Baton Rouge, LA 70817
                      Tel: (225) 751-1751
                      Fax: (225) 751-1998
                      E-mail: gmckenzie@steffeslaw.com

Creditors who signed the Chapter 11 petition:

    Petitioners                    Nature of Claim    Claim Amount
    -----------                    ---------------    ------------
Ben R. Miller, Jr.                 Indemnity               $27,000
6704 Audubon Circle
Baton Rouge, LA 70806

Walter L. Comeaux                  Indemnity                $9,000
2051 Silverside Drive, Suite 160
Baton Rouge, LA 70808

Michael A. Grace                   Indemnity                $9,000
37325 Market Place Drive, Suite C
Prairieville, LA 70769

Commerce Centre Partners, L.L.C.   Indemnity              $676,898
c/o Richard E. Brown
12046 Justice Avenue, Suite B
Baton Rouge, LA 70816


CONVERGYS CORP: S&P Gives Stable Outlook; Affirms 'BB+' Rating
--------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on
Cincinnati-based Convergys Corp. to stable from negative.  At the
same time, S&P affirmed all ratings, including the 'BB+' corporate
credit rating.

"This rating action is due to the company's improved leverage and
liquidity as it has fully repaid the $400 million of debt
outstanding under its revolving credit facility over the last two
quarters," said Standard & Poor's credit analyst Naveen Sarma.  In
addition, the company completed the sale of its human resources
management business, which has been a cash flow drain as well as a
potential management distraction.  Despite the potential for
continued revenue and profitability declines in its remaining
businesses, S&P expects the company to maintain debt to EBITDA
including S&P's adjustment that is substantially lower than the 3x
threshold for its "intermediate" financial risk assessment.
Therefore S&P considers prospects for a downgrade over the next
year to be limited.

The ratings on Cincinnati-based Convergys reflect Standard &
Poor's expectations that company will continue to face pressures
over at least the near term due to continued general economic
softness affecting the customer management business, which
provides call center outsourcing, and the fundamental shift in its
information management business toward a more volatile software
license model.  The company's strong market positions in customer
care and outsourced billing partly offset those factors,
contributing to S&P's overall business risk assessment of "fair."

While the company has improved its profitability recently through
productivity gains, consolidated operating margins, which were
about 5.4% for the second quarter of 2010, excluding restructuring
costs and one-time items, remain below the 9% to 10% area that was
achievable historically.

The stable outlook reflects S&P's view that despite the continued
pressures on revenues and profitability that S&P expects Convergys
to face across its business lines, the company's credit metrics
are likely to remain at levels that are appropriate for the
rating.  Given S&P's current assessment of the business risk
profile as "fair," it is unlikely that S&P would raise the rating
over the next year.  Conversely, absent a leveraging event
resulting in leverage exceeding 3x, or a significant weakening of
the business, it is also unlikely that S&P would lower the rating
over the next year.


DAVID O'LEARY: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: David John O'Leary
        dba O'Leary's Feed Inc.
        1551 Valley Road
        Willits, CA 95490-7775

Bankruptcy Case No.: 10-13243

Chapter 11 Petition Date: August 24, 2010

Court: United States Bankruptcy Court
       Northern District of California (Santa Rosa)

Judge: Alan Jaroslovsky

Debtor's Counsel: Thomas P. Kelly, Jr., Esq.
                  LAW OFFICES OF THOMAS P. KELLY JR. INC.
                  50 Old Courthouse Square #609
                  Santa Rosa, CA 95404
                  Tel: (707) 542-3373
                  E-mail: Kellylaw@pacbell.net

Scheduled Assets: $2,288,960

Scheduled Debts: $5,324,392

A list of the Debtor's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/canb10-13243.pdf


E & H DINERS: Case Summary & 3 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: E & H Diners Inc.
          dba Denny's Restaurant
        109 Joewood Trail
        Davenport, FL 33837

Bankruptcy Case No.: 10-20230

Chapter 11 Petition Date: August 24, 2010

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

Judge: Michael G. Williamson

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

Scheduled Assets: $844,538

Scheduled Debts: $1,529,033

A list of the Company's three largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flmb10-20230.pdf

The petition was signed by Marina Huelva, president.


ENTERPRISE PRODUCTS: Merger Deal Won't Affect Fitch's Ratings
-------------------------------------------------------------
Fitch Ratings believes that the merger of Enterprise Products
Partners L.P. and Enterprise GP Holdings L.P. will have no near-
term impact Enterprise Products Operating LLC's ratings.  In
addition, there is no immediate effect on EPE's ratings.  However,
EPD plans to refinance EPE's outstanding debt, at which time the
ratings will be withdrawn by Fitch.

EPO is the operating partnership for EPD, the largest publicly
traded master limited partnership.  EPE is the publicly traded
owner of EPD's general partner and approximately 3.3% of its
limited partner interests.  EPE also owns both general and limited
partner interests in Energy Transfer Equity, L.P. (Fitch IDR of
'BB-' with a Stable Outlook).  The deal is expected to close by
the end of 2010.

Under the terms of the announced transaction EPE will become a
wholly owned subsidiary of EPD through a unit-for-unit exchange of
1.5 EPD units for each EPE limited partner unit.  The transaction
will result in the cancellation of the 2% economic general partner
interest, the GP incentive distribution rights in EPD, and
approximately 21.6 million EPD common units currently owned by
EPE.  Affiliates of privately-held Enterprise Products Company
will continue to own the general partner of the combined entity.
Certain EPCO affiliates that own 76% of the outstanding EPE units
have agreed to vote their units in favor of the transaction, which
gives the transaction its needed simple majority unit-holder
approval.  In addition, an affiliate of EPCO has agreed to waive
certain of its EPD common unit distributions for a five-year
period which should result in savings of over $275 million of
aggregate cash distributions for the combined partnership.  With
the waived distributions, expectations are that the merger will
not impact expected cash distribution growth rate or near-term
distribution coverage.

Fitch expects the merger to slightly increase EPO's leverage in
the near term with debt-to-adjusted EBITDA expected to be slightly
higher in 2010 than Fitch's previous estimate of 3.8 times,
including 75% equity treatment for EPO and TEPPCO Partners L.P.
(Fitch IDR of 'BBB-) subordinated notes.  Fitch still expects to
see leverage improvement by 2012 as ongoing expansion projects
come online and begin to generate cash returns, absent any new
material capital spending plans.  The primary benefit of the
announced transaction will be to lower EPD's equity cost of
capital due to the elimination of the incentive distribution
rights.  A lower cost of capital should allow EPD to more
competitively pursue growth opportunities.  Additional benefits
include the simplification of the partnership structure and an
expected reduction of general and administrative costs, driven by
the elimination of public company expenses associated with EPE.

Management expects EPD to refinance the approximately $1.1 billion
in outstanding EPE debt.  Fitch would then withdraw its ratings on
EPE as the EPE debt is extinguished.  However, any further rating
action with regard to EPE will only be taken as the details and
timing of EPD's re-financing of EPE's debt are finalized.

Fitch affirmed both EPO's and EPE's ratings on July 30, 2010.  In
its affirmation Fitch cited its belief that EPO's ratings and
Stable Outlook are supported by the quality and diversity of its
sizable asset base and the resulting cash flow performance, as
reflected in strong results in 2009 despite weak natural gas and
natural gas liquids prices.  EPO maintains a high-quality,
diversified midstream asset base, which has exposure to most major
domestic gas producing basins and is complemented by offshore
activities, significant gathering and processing operations and
large-scale transportation assets.  EPO significantly enhanced its
refined products operating base through the acquisition of TPP.
The company continues to increase the fee-based component of its
earnings while attempting to mitigate its commodity price exposure
through an active hedging program.

EPE's current ratings and Stable Outlook are supported by the
diverse and stable cash flows from the underlying asset base, the
benefits of receiving both limited partner and general
distributions, and ownership's long track record of financially
supporting the Enterprise entities.  The debt at EPE currently is
serviced by cash flows from sizable and diverse midstream MLPs.
Through these interests, EPE is exposed to every phase of the
midstream energy business as well as a sizable propane
distribution portfolio.  The underlying MLP ratings reflect the
strength of each partnership's balance sheet as well as the size,
quality and market position of the respective asset bases.

Fitch currently has these ratings on EPO and EPE:

EPO

  -- Issuer Default Rating at 'BBB-';
  -- Senior unsecured at 'BBB-';
  -- Junior subordinated at 'BB'.

EPE

  -- IDR at 'BB-';
  -- Senior secured revolving credit facility at 'BB';
  -- Senior secured term loans at 'BB'.

The Ratings Outlook is Stable for each issuer.


FABRICATED PLASTICS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Fabricated Plastics Inc
          dba FPI Thermoplastic Technologies
              FPI Topcraft
              Cosmepak
        301 Ivyland Road
        Warminster, PA 18974

Bankruptcy Case No.: 10-36106

Chapter 11 Petition Date: August 24, 2010

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

Judge: Rosemary Gambardella

Debtor's Counsel: Kim R. Lynch, Esq.
                  Stephen Ravin, Esq.
                  FORMAN HOLT ELIADES & RAVIN LLC
                  80 Route 4 East, Suite 290
                  Paramus, NJ 07652
                  Tel: (201) 845-1000
                  Fax: (201) 845-9112
                  E-mail: klynch@formanlaw.com
                          sravin@formanlaw.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 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/njb10-36106.pdf

The petition was signed by Sebastian Murray, president.


FGIC CORPORATION: Wilmington Trust Tapped to Creditors' Committee
-----------------------------------------------------------------
Wilmington Trust has been appointed by the United States Trustee
to serve as a member of the unsecured creditors' committee in the
bankruptcy of FGIC Corporation, which filed for Chapter 11
protection on August 3, 2010, in the United States Bankruptcy
Court for the Southern District of New York.

Wilmington Trust is indenture trustee for holders of approximately
$345.5 million of 6% senior subordinated notes due 2034.  FGIC's
bankruptcy filing poses no credit or investment risk to Wilmington
Trust, nor does it affect Wilmington Trust's balance sheet.
Wilmington Trust is paid a fee for the services it provides in
this case.

Wilmington Trust has served as trustee for several of the largest
corporate bankruptcies in American business history.  The
company's CCS business offers institutional trustee, agency, asset
management, retirement plan, and administrative services for
clients worldwide who use capital markets financing structures, as
well as those who seek to establish or maintain nexus, or legal
residency, for special purpose entities.  Because Wilmington Trust
does not underwrite securities offerings or provide investment
banking services, it is able to deliver corporate trust services
that are conflict-free.  CCS reported record-high quarterly
revenue of $51.3 million for the 2010 second quarter, with $25.3
million coming from global corporate trust services.  Through the
first six months of this year, CCS' total revenue of $99.3 million
is approximately 23% ahead of the comparable total for the first
six months of 2009.

                        About Wilmington Trust

Wilmington Trust Corporation (WL 9.05, +0.08, +0.89%)  is a
financial services holding company that provides Regional Banking
services throughout the mid-Atlantic region, Wealth Advisory
services to high-net-worth clients in 36 countries, and Corporate
Client services to institutional clients in 89 countries.  Its
wholly owned bank subsidiary, Wilmington Trust Company, which was
founded in 1903, is one of the largest personal trust providers in
the United States and the leading retail and commercial bank in
Delaware.  Wilmington Trust Corporation and its affiliates have
offices in Arizona, California, Connecticut, Delaware, Florida,
Georgia, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New
Jersey, New York, Pennsylvania, South Carolina, Vermont, the
Cayman Islands, the Channel Islands, London, Dublin, Frankfurt,
Luxembourg, and Amsterdam.

                       About FGIC Corporation

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

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


FIRST BANK: Conn. Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to Cos Cob, Conn.-based
First Bank of Greenwich.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $55,761,000
in assets.


FIRST BANK: Fla. Bank Rated E- by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E- rating to Jacksonville, Fla.-
based First Bank of Jacksonville.  The rating company says that
the institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $86,737,000
in assets.


FIRST BANKING: Wisc. Bank Rated E+ by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E+ rating to Burlington, Wisc.-
based First Banking Center.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$868,810,000 in assets.


FIRST CAPITAL: Fla. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Marianna, Fla.-based
First Capital Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $51,202,000 in assets.


FIRST CENTRAL SB: N.Y. Bank Rated E- by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E- rating to Glen Cove, N.Y.-based
First Central SB.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $666,078,000 in assets.


FIRST CHATHAM: Ga. Bank Rated E by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E rating to Savannah, Ga.-based
First Chatham Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $581,869,000 in assets.


FIRST CHEROKEE: Ga. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Woodstock, Ga.-based
First Cherokee State Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$254,121,000 in assets.


FIRST CHICAGO: Ill. Bank Rated E+ by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E+ rating to Chicago, Ill.-based
First Chicago Bank & Trust.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$1,139,992,000 in assets.


FIRST CHOICE: Ill. Bank Rated E by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E rating to Geneva, Ill.-based
First Choice Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $185,609,000 in assets.


FIRST CHOICE: Ga. Bank Rated E by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E rating to Dallas, Ga.-based First
Choice Community Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$361,615,000 in assets.


FIRST CITIZENS: Ga. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Dawsonville, Ga.-based
First Citizens Bank of Georgia.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$115,953,000 in assets.


FIRST CITY: Fla. Bank Rated E- by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E- rating to Fort Walton Beach,
Fla.-based First City Bank of Florida.  The rating company says
that the institution currently demonstrates what it considers to
be significant weaknesses and has also failed some of the basic
tests it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$340,961,000 in assets.


FIRST COLORADO: Colo. Bank Rated E+ by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E+ rating to Paonia, Colo.-based
First Colorado National Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $55,597,000
in assets.


FIRST COMMERCE: Ga. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Douglasville, Ga.-
based First Commerce Community Bank.  The rating company says that
the institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$261,852,000 in assets.


FIRST COMMERCIAL: Minn. Bank Rated E+ by Weiss Ratings
------------------------------------------------------
Weiss Ratings has assigned its E+ rating to Bloomington, Minn.-
based First Commercial Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$347,143,000 in assets.


FIRST COMMERCIAL: Fla. Bank Rated E by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E rating to Orlando, Fla.-based
First Commercial Bank of Florida.  The rating company says that
the institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$662,487,000 in assets.


FIRST COMMERCIAL BANK OF TAMPA: Fla. Bank Rated E+ by Weiss
-----------------------------------------------------------
Weiss Ratings has assigned its E+ rating to Tampa, Fla.-based
First Commercial Bank of Tampa.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$134,467,000 in assets.


FIRST COMMUNITY: N.M. Bank Rated E- by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E- rating to Taos, N.M.-based First
Community Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $2,849,160,000 in assets.


FIRST COMMUNITY: Tex. Bank Rated E+ by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E+ rating to Sugar Land, Tex.-based
First Community Bank NA.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$794,222,000 in assets.


FIRST COMMUNITY: Fla. Bank Rated E- by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E- rating to Fort Myers, Fla.-based
First Community Bank of SW FL.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$327,945,000 in assets.


FIRST CORNERSTONE: Pa. Bank Rated E- by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E- rating to King of Prussia, Pa.-
based First Cornerstone Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$221,405,000 in assets.


FIRST COVENANT: Ga. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Commerce, Ga.-based
First Covenant Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $180,146,000 in assets.


FIRST FS&LA: Ind. Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to Hammond, Ind.-based
First FS&LA of Hammond.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $50,308,000
in assets.


FIRST FS&LA: Ill. Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to Pekin, Ill.-based
First FS&LA of Pekin.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $28,567,000
in assets.


FIRST GEORGIA: Ga. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Franklin, Ga.-based
First Georgia Banking Co.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$830,593,000 in assets.


FIRST GUARANTY: Fla. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Jacksonville, Fla.-
based First Guaranty Bank & Trust Co.  The rating company says
that the institution currently demonstrates what it considers to
be significant weaknesses and has also failed some of the basic
tests it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$474,502,000 in assets.


FIRST HERITAGE: Wash. Bank Rated E by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E rating to Snohomish, Wash.-based
First Heritage Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $218,100,000 in assets.


FIRST MARINER: Md. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Baltimore, Md.-based
First Mariner Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $1,408,287,000 in assets.


FIRST MIDWEST: S.D. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Centerville, S.D.-
based First Midwest Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$132,147,000 in assets.


FIRST NATIONAL: Kan. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Goodland, Kan.-based
First National Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $275,243,000 in assets.


FIRST NATIONAL: Kan. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Larned, Kan.-based
First National Bank & Trust Co.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $33,383,000
in assets.


FIRST NATIONAL: Ala. Bank Rated E by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E rating to Foley, Ala.-based First
National Bank Baldwin Cty.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$247,618,000 in assets.


FIRST NATIONAL: Ga. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Barnesville, Ga.-based
First National Bank Barnesville.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$136,494,000 in assets.


FIRST NATIONAL: Ill. Bank Rated E by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E rating to Brookfield, Ill.-based
First National Bank Brookfield.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$223,231,000 in assets.


FIRST NATIONAL: Fla. Bank Rated E by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E rating to Winter Park, Fla.-based
First National Bank Central FL.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$427,085,000 in assets.


FIRST NATIONAL: Ga. Bank Rated E+ by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E+ rating to Chatsworth, Ga.-based
First National Bank Chatsworth.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$135,503,000 in assets.


FIRST NATIONAL: Ill. Bank Rated E+ by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E+ rating to Chillicothe, Ill.-
based First National Bank Chillicothe.  The rating company says
that the institution currently demonstrates what it considers to
be significant weaknesses and has also failed some of the basic
tests it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $65,378,000
in assets.


FIRST NATIONAL: Mich. Bank Rated E- by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E- rating to Howell, Mich.-based
First National Bank In Howell.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$313,629,000 in assets.


FIRST NATIONAL: Iowa Bank Rated E+ by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E+ rating to Oskaloosa, Iowa-based
First National Bank Midwest.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$102,224,000 in assets.


FIRST NATIONAL: Fla. Bank Rated E by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E rating to Milton, Fla.-based
First National Bank of Florida.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$355,270,000 in assets.


FIRST NATIONAL: Kan. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Olathe, Kan.-based
First National Bank of Olathe.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$887,596,000 in assets.


FIRST PEOPLES: Fla. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Port Saint Lucie,
Fla.-based First Peoples Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$256,713,000 in assets.


FIRST PERSONAL: Ill. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Orland Park, Ill.-
based First Personal Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$175,283,000 in assets.


FIRST RESOURCE: Minn. Bank Rated E- by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E- rating to Savage, Minn.-based
First Resource Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $17,813,000 in assets.


FIRST SOUND BANK: Wash. Bank Rated E- by Weiss Ratings
------------------------------------------------------
Weiss Ratings has assigned its E- rating to Seattle, Wash.-based
First Sound Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $190,379,000 in assets.


FIRST SOUTH: S.C. Bank Rated E by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E rating to Spartanburg, S.C.-based
First South Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $482,860,000 in assets.


FIRST STANDARD: Calif. Bank Rated E+ by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E+ rating to Los Angeles, Calif.-
based First Standard Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$126,984,000 in assets.


FIRST STATE: Va. Bank Rated E- by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E- rating to Danville, Va.-based
First State Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $29,235,000 in assets.


FIRST STATE: Ga. Bank Rated E- by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E- rating to Stockbridge, Ga.-based
First State Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $600,134,000 in assets.


FIRST STATE: Kan. Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to Burlingame, Kan.-based
First State Bank of Burlingame.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $33,520,000
in assets.


FIRST STATE: Minn. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Kiester, Minn.-based
First State Bank of Kiester.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $18,579,000
in assets.


FIRST STATE: Ill. Bank Rated E+ by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E+ rating to Red Bud, Ill.-based
First State Bank of Red Bud.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $91,631,000
in assets.


FIRST SUBURBAN: Ill. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Maywood, Ill.-based
First Suburban National Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$166,412,000 in assets.


FIRST TUSKEGEE: Ala. Bank Rated E+ by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E+ rating to Tuskegee, Ala.-based
First Tuskegee Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $76,140,000 in assets.


FIRST UNITED: Ill. Bank Rated E+ by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E+ rating to Crete, Ill.-based
First United Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $434,910,000 in assets.


FIRST VIETNAMESE: Calif. Bank Rated E- by Weiss Ratings
-------------------------------------------------------
Weiss Ratings has assigned its E- rating to Westminster, Calif.-
based First Vietnamese American Bank.  The rating company says
that the institution currently demonstrates what it considers to
be significant weaknesses and has also failed some of the basic
tests it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $52,015,000
in assets.


FIRSTIER BANK: Colo. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Broomfield, Colo.-
based Firstier Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $889,370,000 in assets.


FIRSTSECURE BANK: Ill. Bank Rated E- by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E- rating to Palos Hills, Ill.-
based Firstsecure Bank & Trust Co.  The rating company says that
the institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $72,030,000
in assets.


FLETCHER GRANITE: Sovereign Rocked on $7MM Quarry Loan
------------------------------------------------------
Tim McLaughlin at Boston Business Journal reports that a division
of Sovereign Bank on the hook for about $7 million following the
bankruptcy filing of Fletcher Granite Company LLC.  The report
relates that Sovereign Business Capital in Princeton, N.J., the
chief creditor in the bankruptcy case, has moved to restructure
about $7 million in financing that was extended in 2006, according
to court papers.

Last month, Fletcher Granite, according to Business Journal sought
bankruptcy court approval for modifying its loan agreement with
Sovereign. The bank has agreed to provide postpetition financing
of up to $417,355 to Fletcher Granite, court papers show.

Fletcher believes its assets will sell for more than the bank
debt.  The quarry business has generated as much as $18 million in
annual revenue in recent years, but slack demand for granite
curbing has hurt operations, according to Business Journal.

Fletcher Granite is a Westford, Mass., company that owns granite
quarries in four states.  The business was founded in the 1880s by
Herbert Ellery Fletcher.  The Fletcher family sold the business in
1986 to Pioneer International plc, a multinational company based
in Australia. In 1999, the company was sold to the current owner.

Fletcher Granite filed for Chapter 11 bankruptcy protection on
August 2, 2010 (Bankr. D. Mass. Case No. 10-43884).  David J.
Reier, Esq., and Laura Otenti, Esq., at Posternak Blankstein &
Lund LLP, serve as counsel to the Debtor.  The Debtor estimated
its assets at $10 million to $50 million and debts at $1 million
to $10 million in its Chapter 11 petition.  The U.S. Trustee has
formed a five-member Official Committee of Unsecured Creditors.


FLORIDA CAPITAL: Fla. Bank Rated E- by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E- rating to Jacksonville, Fla.-
based Florida Capital Bank NA.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$1,025,159,000 in assets.


FOUNDATIONS BANK: Wisc. Bank Rated E+ by Weiss Ratings
------------------------------------------------------
Weiss Ratings has assigned its E+ rating to Pewaukee, Wisc.-based
Foundations Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $224,560,000 in assets.


FOUR COUNTY: Ga. Bank Rated E- by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E- rating to Allentown, Ga.-based
Four County Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $73,761,000 in assets.


FREEDOM BANK: Mont. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Columbia Falls, Mont.-
based Freedom Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $65,863,000 in assets.


FREEDOM BANK: Fla. Bank Rated E+ by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E+ rating to Saint Petersburg,
Fla.-based Freedom Bank of America.  The rating company says that
the institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$100,655,000 in assets.


FRONTIER BANK: Iowa Bank Rated E by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E rating to Rock Rapids, Iowa-based
Frontier Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $158,886,000 in assets.


FUNDEX CAPITAL: S.D.N.Y. Sets Oct. 11 Bar Date for Claims
---------------------------------------------------------
The U.S. District Court for the Southern District of New York
directs that all persons or entities who wish to assert a claim
against Fundex Capital Corporation must do so by filing a written
proof of claim with the Receiver on or before Oct. 11, 2010, and
delivering it to:

       SBA, Receiver for Fundex Capital Corporation
       Charles P. Fulford, Principal Agent for the Receiver
       1100 G Street, N.W., Suite 200
       Washington, DC 20005
       Telephone (202) 272-3617

Fundex Capital Corporation has been in receivership (S.D.N.Y. Case
No. 09-cv-9222) since Nov. 23, 2009, and the Small Business
Administration serves as the court-appointed receiver.


GENERAL GROWTH: Discloses Executive Transition Plan
---------------------------------------------------
General Growth Properties, Inc. disclosed that Chief Executive
Officer Adam Metz and President and Chief Operating Officer Thomas
Nolan have agreed to remain in their roles at GGP for up to one
year following completion of the company's restructuring, expected
in October 2010.  During that period, Messrs. Metz and Nolan will
continue to manage the final phases of the company's restructuring
-- including the planned equity raise -- and will continue to lead
GGP's financial and operational strategy.  GGP's new Board of
Directors, to assume its role following emergence from bankruptcy,
is expected to select a long-term management team during the
transition period.

"Tom and I have worked closely with the rest of the senior
management team to position GGP for future success, with a clear
vision and strategy, a solid financial structure, an enhanced
operational organization and a world-class portfolio of assets.
We have never been more confident in GGP's future," said Adam
Metz, chief executive officer of GGP.  "We are pleased to help
position the company for the next chapter in its growth story and
ensure a smooth transition for employees, shareholders and tenants
while the Board of Directors selects a permanent management team.
In the meantime, it will be business as usual at GGP as we
continue to build value for all our stakeholders."

"The Board of Directors would like to thank Adam and Tom for their
deep commitment and significant contributions to GGP during the
restructuring and anticipated transition period," said Sheli
Rosenberg, lead director of GGP.  "The two of them have led one of
the most successful restructurings in corporate history, and the
Board and the new equity investors fully support the strategic
business plan Adam and Tom have developed.  We are grateful to
them for agreeing to stay during the search for a new management
team."

                    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: Equity Panel Wants to Raise Weitzman Fee Cap
------------------------------------------------------------
The Official Committee of Equity Security Holders for General
Growth Properties Inc. asks the U.S. Bankruptcy Court to amend its
order authorizing the panel's retention of The Weitzman Group,
Inc., as its real estate consultant and appraiser, nunc pro tunc
to May 4, 2010, to raise the Fee Cap from $125,000 to $275,000.

Since its retention, TWG has provided valuable real estate
consulting services to the Equity Committee in the amount of
approximately $95,000, John Jerome, Esq., at Saul Ewing LLP, in
New York, tells the Court.  Further services, Mr. Jerome says,
are necessary to assist the Equity Committee and its
professionals with due diligence in connection with certain real
estate assets subject to the contemplated transfer of assets to
newly created "Spinco" under the Plan Debtors' Third Amended
Joint Plan of Reorganization.

In addition, the Equity Committee is participating in the
appraisal process of the Summerlin master planned community
assets, which is the subject of a valuation dispute, Mr. Jerome
avers.  The Equity Committee, he says, anticipates requiring a
higher level of services from TWG than originally anticipated in
connection with the Summerlin valuation process.  Therefore, the
Equity Committee is asking that the Fee Cap be increased from
$125,000 to $275,000 due to the increased time commitment that
the Equity Committee believes will be required of TWG to assist
it with respect to its statutory duties.

The scope of services to be provided by TWG originally requested
and authorized under the Retention Order will remain the same,
Mr. Jerome says.

                       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: Seeks Approval of ERISA Class Action Settlement
---------------------------------------------------------------
General Growth Properties, Inc., and its debtor affiliates seek
permission from Judge Allan L. Gropper of the U.S. Bankruptcy
Court for the Southern District of New York to enter into a
settlement agreement resolving a class action relating to the
General Growth 401(k) Savings Plan.

As previously reported, Jay R. Barnes, Nathan B. Zable and Dana
Kaminske filed largely identical putative class actions in the
U.S. District Court for the Northern District of Illinois against
GGP, certain GGP entities and committees, and certain current and
former GGP officers, on behalf of the 401(k) Plan and all of its
participants and beneficiaries to recover losses for which the
fiduciaries of the were alleged to be liable pursuant to Sections
409 and 502(a)(2) of the Employee Retirement Income Security Act
of 1974.

In March 2009, those cases were consolidated before Judge James
Zagel of the District Court and the plaintiffs filed a
consolidated class action complaint.  The individual defendants
in the Consolidated ERISA Action are current or former officers
of the Debtors: John Bucksbaum, Bernard Freibaum, Robert A.
Michaels, Judy Herbst, Charles Lhotka, Michelle R. McGovern,
Heather Margulis, Jean Schlemmer, and Kate Sheehy.  On May 6,
2010, the District Court entered an order granting in part and
denying in part the GGP Defendants' motion to dismiss.

The Debtors purchased a fiduciary and employee benefit liability
insurance policy from St. Paul Mercury Insurance Company.  The
Fiduciary Liability Policy affords a $10,000,000 limit of
liability for the policy period from March 1, 2008 to March 1,
2009, which limits are depleted by the Carrier's payment of
defense costs incurred through conclusion of the Consolidated
ERISA Action, as permitted by the Bankruptcy Court-approved
Stipulation Allowing Insurers to Advance Defense Expenses.
The Fiduciary Liability Policy covers "Insured Persons,"
including persons who were, now are, or will be duly elected or
appointed directors, trustees, officers or employees of GGP.

To eliminate uncertainties, burden, and expense of further
litigation, the Debtors, the GGP Defendants and the Plaintiffs
entered into the Settlement Agreement, salient terms of which
are:

  (1) The Settlement Agreement is subject to approval of the
      Bankruptcy Court and District Court.  Pursuant to the
      District Court's August 2010 order, among other things,
      certifying a settlement class, appointing counsel for the
      settlement class and preliminarily approving a proposed
      class settlement, the issuance of class notification is
      commencing and a fairness hearing will be held on
      December 9, 2010, in the District Court.  Under the
      Settlement Agreement, Bankruptcy Court approval is
      required prior to the District Court's fairness hearing.

  (2) Immediately upon the District Court's entry of an order
      preliminarily approving the Settlement Agreement, the GGP
      Defendants will cause the Carrier to deposit $5,750,000 in
      an interest-bearing, settlement fund account to be used as
      the settlement fund to be paid out to settlement class
      members.

  (3) Upon the effective date of the Settlement Agreement, the
      Plaintiffs and each settlement class member, will be
      deemed to have fully released all claims, known or
      unknown, against the GGP defendants and the Carrier, as
      well as related parties including GGP and its affiliates,
      including claims:

      (A) that have been or could have been brought by or on
          behalf of any class member in any litigation;

      (B) which arise out of or relate to the Consolidated ERISA
          Action, any action filed or that could have been filed
          by the Plaintiffs and/or a class member; and

      (C) which arise out of or relate to any allegations, acts,
          omissions, or facts concerning violations of ERISA.

      The Settlement Agreement also includes releases for all
      claims that arise out of, relate to, or are based on
      allegations concerning any failure to provide information
      to the 401(k) Plan's fiduciaries or the participants
      regarding GGP or GGP stock, failures to appoint, remove
      or adequately monitor the 401(k) Plan's fiduciaries,
      conflicts of interest that benefited the GGP Defendants at
      the expense of the participants, and any failure to adhere
      to the duty of loyalty in performing duties to the 401(k)
      Plan.

  (4) Upon the effective date, each of the GGP Defendants will
      be deemed to have fully released the Plaintiffs, each
      member of the settlement class and the 401(k) Plan, from
      all claims arising out of the Consolidated ERISA Action or
      based on the same facts or circumstances alleged in the
      Consolidated ERISA Action.

A full-text copy of the Settlement Agreement is available for
free at http://bankrupt.com/misc/ggp_ERISAActionSettlement.pdf

Adam P. Strochak, Esq., at Weil, Gotshal & Manges LLP, in New
York, emphasizes that the Consolidated ERISA Action is highly
complex and its outcome uncertain.  For one, if the Consolidated
ERISA Action is not settled, it is foreseeable that a potential
finding of wrongdoing or liability against the GGP or related
entities may occur, he asserts.  It is also foreseeable that a
potential finding of wrongdoing or liability may occur against
one of the individual GGP Defendants which would give rise to a
claim for indemnification against the Debtors, he points out.
Against this backdrop, resolution of the claims as contemplated
in the Settlement Agreement will have significant litigation cost
savings and will allow the Debtors to resolve those claims
without depleting liquid estate resources, he maintains.

The Debtors further ask the Court to modify the automatic stay
solely to approve the payment of the $5,750,000 settlement payment
out of the Fiduciary Liability Policy.  Without the payment
described in the Settlement Agreement, the individual GGP
Defendants may seek to assert indemnification claims against the
Debtors for adjudicated amounts, Mr. Strochak stresses.  Thus,
modifying the automatic stay will not harm the Debtors' estates,
he assures the Court.

The Debtors also ask the Court to waive the requirements of Rule
4001(a)(3) of the Federal Rules of Bankruptcy Procedure for the
order granting the requested relief be effective immediately.

The Court will consider the Debtors' request on September 15,
2010.  Objections are due September 10.

                       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 Sell Mesa Village Properties
--------------------------------------------------------
U.S. Bankruptcy Judge Allan Gropper authorized Howard Hughes
Properties, Inc., and The Howard Hughes Company, LLC, f/k/a The
Howard Hughes Corporation, to sell four parcels located at
Summerlin master planned property in Clark County, Nevada by, free
and clear of all liens, to these entities for these amounts:

                                                      Purchase
  Parcel                Purchaser                        Price
  ------                ---------                     --------
  162 40' x 100' lots   PN II, Inc. d/b/a          $13,981,001
                        Pulte Homes of Nevada

  109 40' x 90' lots    PN II                       $8,499,300

  115 45' x 90' lots    Richmond American           $9,760,500
                        Homes of Nevada

  117 55' x 100' lots   Richmond American          $12,477,099

                       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)


GEORGE HOUSER: Section 341(a) Meeting Scheduled for Sept. 30
------------------------------------------------------------
The U.S. Trustee for Region 21 will convene a meeting of George
Dalyn Houser's creditors on September 30, 2010, at 4:00 p.m.  The
meeting will be held at Third Floor - Room 368, Russell Federal
Building, 75 Spring Street SW, Atlanta, GA 30303.

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.

Rome, Georgia-based George Dalyn Houser filed for Chapter 11
bankruptcy protection on August 31, 2010 (Bankr. N.D. Ga. Case No.
10-43407).  George D. Houser, Esq., who has an office in Sandy
Springs, Georgia, assists the Debtor in his restructuring effort.
The Debtor estimated his assets at $10 million to $50 million and
debts at $1 million to $10 million.


GEORGIA TRUST: Ga. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Buford, Ga.-based
Georgia Trust Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $161,828,000 in assets.


GLEN ROSE: Posts $1.6 Million Net Loss in June 30 Quarter
---------------------------------------------------------
Glen Rose Petroleum Corporation filed its quarterly report on Form
10-Q, reporting a net loss of $1.6 million on $27,560 of revenue
for the three months ended June 30, 2010, compared with a net loss
of $279,004 on $35,210 of revenue for the three months ended
June 30, 2009.

As of June 30, 2010, the Company had an accumulated deficit of
$52.5 million.  Current liabilities increased from $874,001 at
March 31, 2010, to $1.2 million at June 30, 2010, an increase of
$305,937 or approximately 35%.

The Company had working capital of $1.2 million at June 30, 2010,
as compared to working capital of $2.7 million  at March 31, 2010,
a working capital decrease of $1.5 million.  The decrease in
working capital resulted primarily from the cost outlaid to
increase the overall operations and production of the Company.

The Company's balance sheet at June 30, 2010, showed $8.2 million
in total assets, $5.9 million in total liabilities, and
stockholders' equity of $2.3 million.

Jonathon P. Reuben CPA, An Accountancy Corporation, expressed
substantial doubt about the Company's ability to continue as a
going concern, following the Company's results for the fiscal year
ended March 31, 2010.  The independent auditors noted that the
Company has incurred significant losses and has an accumulated
deficit of $50.9 million as of March 31, 2010.

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

               http://researcharchives.com/t/s?6ae7

                         About Glen Rose

Katy, Tex.-based Glen Rose Petroleum Corporation (OTC BB: GLRP)
-- http://www.glenrosepetroleum.com/-- owns UHC Petroleum
Corporation, a Texas corporation, which is a licensed operator
with the Texas Railroad Commission.  UHC Petroleum is an
independent producer of crude oil based in Katy, Texas.  UHC
Petroleum operates the Wardlaw Field, which lies in Edwards
County, Texas in the southeast portion of the Val Verde Basin and
is approximately 28 miles west of Rocksprings and 550 miles west
of Dallas.


GOLDEN COAST: Calif. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Long Beach, Calif.-
based Golden Coast Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $34,452,000
in assets.


GOLDEN SECURITY: Calif. Bank Rated E by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E rating to Rosemead, Calif.-based
Golden Security Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$170,915,000 in assets.


GOLDEN STATE: Calif. Bank Rated E by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E rating to Upland, Calif.-based
Golden State Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $165,793,000 in assets.


GOLDWATER BANK: Ariz. Bank Rated E by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E rating to Scottsdale, Ariz.-based
Goldwater Bank NA.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $187,821,000 in assets.


GOLF SB: Wash. Bank Rated E+ by Weiss Ratings
---------------------------------------------
Weiss Ratings has assigned its E+ rating to Mountlake Terrace,
Wash.-based Golf SB.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $558,290,000 in assets.


GORDON BANK: Ga. Bank Rated E- by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E- rating to Gordon, Ga.-based
Gordon Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $31,750,000 in assets.


GREAT ESCAPE: Case Summary & 15 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Great Escape Aviation, Inc.
        13709 Gamma Road
        Dallas, TX 75244

Bankruptcy Case No.: 10-35871

Chapter 11 Petition Date: August 25, 2010

Court: U.S. Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Harlin DeWayne Hale

Debtor's Counsel: Charles M. Hamilton, Esq.
                  FRENCH & HAMILTON
                  211 N. Record Street, Suite 400
                  Dallas, TX 75202
                  Tel: (972) 404-1414
                  Fax: (972) 404-1808
                  E-mail: chuck@chlegal.com

Scheduled Assets: $1,000,300

Scheduled Debts: $502,194

A list of the Company's 15 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txnb10-35871.pdf

The petition was signed by Elohim Al Ranyak, president.

Debtor-affiliate that filed separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Elohim Ranyak                         10-33788            05/28/10


GREAT FLORIDA: Fla. Bank Rated E+ by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E+ rating to Miami Lakes, Fla.-
based Great Florida Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$1,772,918,000 in assets.


GREAT NORTHERN: Minn. Bank Rated E- by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E- rating to Saint Michael, Minn.-
based Great Northern Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $70,814,000
in assets.


GSC GROUP: Gets Court's Interim Nod to Use Cash Collateral
----------------------------------------------------------
GSC Group, Inc., et al., sought and obtained interim authorization
from the Hon. Arthur J. Gonzalez of the U.S. Bankruptcy Court for
the Southern District of New York to use cash collateral.

As of the Petition Date, the Debtor owed Black Diamond Commercial
Finance, L.L.C., as administrative agent and collateral agent, and
the lenders $209,607,376, secured by the Debtors' assets,
including cash.

Michael B. Solow, Esq., Kaye Scholer LLP, explained that the
Debtors need to use the cash collateral to fund their Chapter 11
case, pay suppliers and other parties.  The Debtors will use the
collateral pursuant to a budget, a copy of which is available for
free at:

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

The use of cash collateral will terminate effective on the earlier
to occur of (a) receipt by the Debtors of written notice from the
Agent of the occurrence and continuance of an Event of Default;
and (b) 11:59 p.m. (prevailing Eastern time) on September 30, 2010
(or such longer period of time as may be consented to by the
Agent).

In exchange for using the cash collateral, the Debtors will grant
the prepetition secured parties valid, perfected and enforceable
continuing replacement security interests and liens in and upon
all prepetition and postpetition assets and properties.  The
Debtors will grant the prepetition secured parties a superpriority
claim over all administrative expense claims and unsecured claims
against the Debtors.  The prepetition secured parties will also
receive, as additional adequate protection, current cash payments
from the Debtors of all fees and expenses payable to the Agent
under the Prepetition Credit Documents.

The Debtors promise to provide the lenders monthly reports.
Within five business days after the end of each two week period,
the Debtors will deliver to the Agent (i) an updated budget, and
(ii) a budget variance report, each in form and substance
reasonably satisfactory to the Agent.

The Court has set a final hearing for September 22, 2010 at
11:00 a.m. prevailing Eastern time

                          About GSC Group

Florham Park, New Jersey-based GSC Group, Inc. --
http://www.gsc.com/-- is a private equity firm specializing in
mezzanine and fund of fund investments.  It filed for Chapter 11
bankruptcy protection on August 31, 2010 (Bankr. S.D.N.Y. Case No.
10-14653).  Michael B. Solow, Esq., at Kaye Scholer LLP, assists
the Debtor in its restructuring effort.  Epiq Bankruptcy
Solutions, LLC, is the Debtor's notice and claims agent.  Capstone
Advisory Group, LLC, is the Debtor's financial advisor.

The Debtor estimated its assets at $1 million to $10 million and
debts at $100 million to $500 million.


GSC GROUP: Taps Kaye Scholer to Handle Restructuring Case
---------------------------------------------------------
GSC Group Inc., et al., ask the U.S. Bankruptcy Court for the
Southern District of New York for permission to employ Kaye
Scholer LLP as restructuring counsel.

Kaye Scholer will, among other things:

   -- advise the Debtors with respect to their rights, powers and
      duties as debtors and debtors-in-possession in the continued
      management and operation of their businesses and properties;

   -- advise and consult the Debtors regarding the conduct of the
      case, including all of the legal and administrative
      requirements of operating in Chapter 11;

   -- advise the Debtors with respect to the sale of substantially
      all of their assets pursuant to a court-supervised
      Section 363 process;

The hourly rates of Kaye Scholer's personnel are:

     Partners            $670 - $1,050
     Counsel             $650 -   $750
     Associates          $290 -   $700
     Legal Assistants    $145 -   $265

Kaye Scholer received a total $1,726,141 retainer for services
rendered and expenses incurred prepetition.  Kaye Scholer
currently holds a retainer of approximately $500,000.

To the best of the Debtors' knowledge, Kaye Scholer is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

The firm can be reached at:

     Michael B. Solow, Esq.
     Seth J. Kleinman, Esq.
     KAYE SCHOLER LLP
     425 Park Avenue
     New York, NY 10022
     Tel: (212) 836-8000
     Fax: (212) 836-8689

     D. Tyler Nurnberg, Esq.
     Matthew J. Micheli, Esq.
     KAYE SCHOLER LLP
     70 West Madison Street, Suite 4100
     Chicago, IL 60602
     Tel: (312) 583-2300
     Fax: (312) 583-2360

                       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).
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.


GSC GROUP: Asks for Approval of Epiq as Claims & Noticing Agent
---------------------------------------------------------------
GSC Group Inc., et al., ask the U.S. Bankruptcy Court for the
Southern District of New York for permission to employ Epiq
Bankruptcy Solutions, LLC, as notice and claims agent.

Epiq will, among other things:

   -- notify all potential creditors of the existence and amount
      of their respective claims as evidenced by the Debtors'
      books and records and as set forth in the schedules;

   -- furnish a notice of the last date for the filing of proofs
      of claim and a form for the filing of a proof of claim,
      after the notice and form are approved by the Court; and

   -- assist the Debtors with (a) maintaining and updating the
      master mailing lists of creditors; (b) to the extent
      necessary, gathering data in conjunction with the
      preparation of the Debtors' schedules of assets and
      liabilities and statements of financial affairs; and (c)
      providing a confidential data room.

The Debtors propose that the cost of Epiq's services be paid from
their estates.

To the best of the Debtors' knowledge, Epiq is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

                       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.  The Company estimated assets at $1 million to
$10 million and debts at $100 million to $500 million.


GSC GROUP: Wants to Hire Capstone Advisory as Financial Advisor
---------------------------------------------------------------
GSC Group Inc., et al., ask the U.S. Bankruptcy Court for the
Southern District of New York for permission to employ Capstone
Advisory Group, LLC, as financial advisor.

Capstone will, among other things:

   -- advise and assist the Debtors in analyzing cash flow and
      financial projections related to liquidity and borrowing
      needs;

   -- support and assist the Debtors in providing potential third
      parties with financial and operational information and
      providing explanations thereon in connection with a
      potential Section 363 sale; and

   -- assist in the preparation of the Debtors' schedules of
      assets and liabilities and statement of financial affairs;

The hourly rates Capstone's personnel are:

     Executive Directors         $600 - $850
     Staff                       $160 - $595
     Support Staff               $110 - $170

In addition, Capstone will be entitled to seek reimbursement for
reasonable and actual out-of-pocket expenses, including, but not
limited to, costs of reproduction, research expenses, travel,
typing, legal counsel, any applicable sales or excise taxes and
other direct expenses incurred in connection with Capstone
providing professional services to the Debtors.

Capstone reserves the right to request a success fee at a later
date.

Capstone received a $200,000 prepetition retainer.  Approximately
$200,000 of the Retainer remains and will be held by Capstone and
will be returned to the Debtors upon payment in full of all
outstanding invoices, or applied to any outstanding invoices
at the conclusion of the engagement.

To the best of the Debtors' knowledge, Capstone is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

                       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.  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.


GUARANTY BANK: Wisc. Bank Rated E+ by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E+ rating to Milwaukee, Wisc.-based
Guaranty Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $1,343,803,000 in assets.


GULF STATE: Fla. Bank Rated E- by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E- rating to Carrabelle, Fla.-based
Gulf State Community Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$119,569,000 in assets.


GUNNISON VALLEY: Utah Bank Rated E- by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E- rating to Gunnison, Utah-based
Gunnison Valley Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $71,124,000
in assets.


GWINNETT COMMUNITY: Ga. Bank Rated E- by Weiss Ratings
------------------------------------------------------
Weiss Ratings has assigned its E- rating to Duluth, Ga.-based
Gwinnett Community Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$513,979,000 in assets.


HABERSHAM BANK: Ga. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Clarkesville, Ga.-
based Habersham Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$436,189,000 in assets.


HANMI BANK: Calif. Bank Rated E by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E rating to Los Angeles, Calif.-
based Hanmi Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $3,011,512,000 in assets.


HARRISBURG, PA: Places Services Ahead of Debt Payment
-----------------------------------------------------
Dow Jones' DBR Small Cap reports that several weeks ago, the mayor
of Pennsylvania's capital got word from her interim business
administrator that the city couldn't make an approaching $3.29
million bond payment.  Harrisburg Mayor Linda Thompson and three
cabinet officials tossed out alternatives as they sat around one
end of a long oval table in her conference room.  Lay off police?
Delay paying the light bill?  Ultimately they decided that cutting
basic services to pay debt was out of the question, DBR relates.

"To disrupt [services] because we can't make a bond payment would
just be unconscionable.  And as a leader I couldn't do it," Mayor
Thompson said in an interview last week, after Harrisburg rattled
the municipal-bond market on Aug. 31 with the news, according to
DBR.  "There are always ways to restructure our debt and work out
with our debtors, but you can't have trash piling up in your
neighborhoods. That's a health issue."

As reported by the Troubled Company Reporter on September 7, 2010,
Dow Jones' DBR Small Cap said elected officials in Harrisburg met
last week Thursday to discuss hiring a bankruptcy adviser and
handing over control of their troubled municipal authority to a
receiver as the city's fiscal problems mount.  As reported by the
TCR on September 1, Harrisburg will skip $3.29 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.

Harrisburg is also struggling with $288 million of debt related to
a failed incinerator revamp.  DBR relates council vice president
Patty Kim said she would create an ad-hoc committee to look into
hiring a financial or legal adviser who could explore a municipal
bankruptcy filing, which Mayor Thompson opposes. "Bankruptcy isn't
the scariest of the options out there," said Councilman Brad
Koplinski.

                       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.


HARVEST BANK: Md. Bank Rated E+ by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E+ rating to Gaithersburg, Md.-
based Harvest Bank of Maryland.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$217,092,000 in assets.


HAVEN TRUST: Fla. Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to Ponte Vedra Beach,
Fla.-based Haven Trust Bank Florida.  The rating company says that
the institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$164,708,000 in assets.


HERITAGE BANK: Kan. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Topeka, Kan.-based
Heritage Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $50,719,000 in assets.


HERITAGE BANK: Ga. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Jonesboro, Ga.-based
Heritage Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $409,439,000 in assets.


HERITAGE BANKING: Miss. Bank Rated E- by Weiss Ratings
------------------------------------------------------
Weiss Ratings has assigned its E- rating to Carthage, Miss.-based
Heritage Banking Group.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$255,348,000 in assets.


HERITAGE COMMUNITY: N.J. Bank Rated E by Weiss Ratings
------------------------------------------------------
Weiss Ratings has assigned its E rating to Randolph, N.J.-based
Heritage Community Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$127,006,000 in assets.


HERITAGE FIRST: Ala. Bank Rated E+ by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E+ rating to Orange Beach, Ala.-
based Heritage First Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $54,317,000
in assets.


HIGH TRUST: Ga. Bank Rated E- by Weiss Ratings
----------------------------------------------
Weiss Ratings has assigned its E- rating to Stockbridge, Ga.-based
High Trust Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $211,905,000 in assets.


HIGHLAND BANK: Minn. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Saint Michael, Minn.-
based Highland Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $529,712,000 in assets.


HIGHLANDS UNION: Va. Bank Rated E+ by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E+ rating to Abingdon, Va.-based
Highlands Union Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$647,430,000 in assets.


HILLCREST BANK: Kan. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Overland Park, Kan.-
based HiLLCrest Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$1,709,152,000 in assets.


HOME SAVINGS: Minn. Bank Rated E+ by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E+ rating to Little Falls, Minn.-
based Home Savings of America.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$471,520,000 in assets.


HOMESTAR BANK: Ill. Bank Rated E+ by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E+ rating to Manteno, Ill.-based
Homestar Bank & Financial Svcs.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$427,171,000 in assets.


HOMESTREET BANK: Wash. Bank Rated E- by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E- rating to Seattle, Wash.-based
Homestreet Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $3,148,463,000 in assets.


HOMETOWN COMMUNITY: Ga. Bank Rated E- by Weiss Ratings
------------------------------------------------------
Weiss Ratings has assigned its E- rating to Braselton, Ga.-based
Hometown Community Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$148,124,000 in assets.


HOMETOWN NATIONAL: Wash. Bank Rated E- by Weiss Ratings
-------------------------------------------------------
Weiss Ratings has assigned its E- rating to Longview, Wash.-based
Hometown National Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $27,128,000
in assets.


HORIZON BANK: Fla. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Bradenton, Fla.-based
Horizon Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $196,638,000 in assets.


HUMBOLDT INTERNATIONAL: Case Summary & 20 Largest Unsec Creditors
-----------------------------------------------------------------
Debtor: Humboldt International Services, LLC
        2880 Sinton Road
        Evergreen, CO 80439

Bankruptcy Case No.: 10-31447

Chapter 11 Petition Date: August 24, 2010

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: Elizabeth E. Brown

Debtor's Counsel: Lee M. Kutner, Esq.
                  KUTNER MILLER BRINEN, P.C.
                  303 E. 17th Ave.,Ste. 500
                  Denver, CO 80203
                  Tel: (303) 832-2400
                  Fax: (303) 832-1510
                  E-mail: lmk@kutnerlaw.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/cob10-31447.pdf

The petition was signed by John Charles Gallaty, manager.


IDAHO BANKING: Idaho Bank Rated E by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E rating to Boise, Idaho-based
Idaho Banking Co.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $220,939,000 in assets.


IDAHO FIRST: Idaho Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Mccall, Idaho-based
Idaho First Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $83,026,000 in assets.


INDEPENDENCE FSB: D.C. Bank Rated E- by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E- rating to Washington, D.C.-based
Independence FSB.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $133,679,000 in assets.


INDEPENDENCE STATE: Wisc. Bank Rated E+ by Weiss Ratings
--------------------------------------------------------
Weiss Ratings has assigned its E+ rating to Independence, Wisc.-
based Independence State Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $58,970,000
in assets.


INDEPENDENT BANKERS: Fla. Bank Rated E- by Weiss Ratings
--------------------------------------------------------
Weiss Ratings has assigned its E- rating to Lake Mary, Fla.-based
Independent Bankers Bank of Fl.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$416,015,000 in assets.


INDIANA COMMUNITY: Ind. Bank Rated E+ by Weiss Ratings
------------------------------------------------------
Weiss Ratings has assigned its E+ rating to Goshen, Ind.-based
Indiana Community Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$172,596,000 in assets.


INNKEEPERS USA: Committee Proposes Info Sharing Protocol
--------------------------------------------------------
The Official Committee of Unsecured Creditors in Innkeepers USA
Trust's Chapter 11 cases asks U.S. Bankruptcy Judge Shelley
Chapman for an order providing that it is not authorized or
required, pursuant to Section 1102(b)(3)(A) of the Bankruptcy
Code, to provide access to:

      * the Debtors' confidential and other non-public
        proprietary information;

      * its confidential information; or

      * to privileged information, to the creditors it
        represents; and

The Creditors' Committee also asks the Court permission to set and
fix creditor information sharing procedures and protocols.

In connection with the Debtors' efforts to reorganize under
Chapter 11 of the Bankruptcy Code, the Debtors are in the process
of entering into a confidentiality agreement with the Creditors''
Committee pursuant to which the Committee members and its
professionals will be provided with access to certain
confidential, non-public information.

The Debtors and the Creditors' Committee seek clarification that
the duties of the Creditors' Committee under Section 1102(b)(3)
are satisfied by:

  (1) responding promptly to written and telephonic inquiries
      received from the creditors it represents; and

  (2) in the Creditors' Committee's reasonable discretion,
      establishing and maintaining an Internet-accessed Web site
      or an electronic mail address for creditors to submit
      questions and comments to the Creditors' Committee.

Brett H. Miller, Esq., at Morrison & Foerster LLP, in New York --
brettmiller@mofo.com -- asserts that the relief requested will
help ensure that confidential, privileged, proprietary and
material non-public information will not be disseminated to the
detriment of the Debtors' bankruptcy estates and will aid the
Creditors' Committee in performing its statutory functions.

Under the terms of the proposed procedures order, the Creditors'
Committee proposes that it will respond to a general unsecured
creditor's request for information within 30 days.  The response
will provide access to the requested information or reasons why
the information will not be provided.

If the information request is denied because it requests
Confidential Information, or the request is unduly burdensome, the
creditor, after good faith attempts to meet and confer with the
Creditors' Committee, can file a motion requesting that the
information be provided.  In responding to an information request,
the Creditors' Committee will consider certain factors, including
the creditor's willingness to enter into a confidentiality
agreement and trading restrictions.

If the Creditors' Committee agrees that Confidential Information
should be supplied to a general unsecured creditor, it will do so
only if the creditor executes a confidentiality agreement and
pursuant to the proposed procedures.  The Creditors' Committee
may, in its sole discretion, disclose any Committee Confidential
Information, so long as the disclosure does not violate any
confidentiality agreement.

Judge Chapman granted the request.

                     About Innkeepers USA Trust

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

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

Apollo Investment Corporation acquired Innkeepers in June 2007.

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

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

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

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


INNKEEPERS USA: Committee to Probe on Possible Wrongdoing
---------------------------------------------------------
The Official Committee of Unsecured Creditors for Innkeepers USA
Trust sought the Court's permission to conduct discovery pursuant
to Rule 2004 of the Federal Rules of Bankruptcy Procedure in the
form of document production and witness testimony concerning the
Debtors' business affairs and financial transactions during the
past three years.

The Creditors' Committee, on behalf of itself and all of the
Debtors' other general unsecured creditors, wants to conduct
witness testimony and serve Innkeepers USA Trust, et al., its
current and former controlling shareholder and other creditors
with Rule 2004 document requests to examine prepetition
transactions and conduct of the Debtors and their officers and
trustees, and determine whether there was wrongdoing that harmed
the Debtors.

Brett H. Miller, Esq., at Morrison & Foerster LLP, in New York,
tells the Court that the Creditors' Committee primarily seeks to
examine the transaction in 2007 by which Apollo Investment
Corporation acquired its ownership interest in Innkeepers.  As a
result of the 2007 Transaction, Innkeepers incurred in excess of
$1 billion in debt secured by various hotel properties.  A
significant portion of the funds advanced by the lenders was used
to pay existing equity holders and left Innkeepers in a precarious
financial position.

Mr. Miller explains that the Creditors' Committee intends to
examine the terms of the 2007 Transaction and circumstances
surrounding it.  He adds that the Creditors' Committee wants to
evaluate the validity, priority and extent of all security
interests claimed by the Debtors' major secured creditors to
determine if any deficiencies are present.

Because of the expedited nature of the cases, the Creditors'
Committee asks that the time for parties to respond or object to
formal discovery demands, and the time to produce witnesses for
depositions, be shortened to 14 days from service of the relevant
demand.

                  Request is Moot, Midland Argues

Midland Loan Services, Inc., says it has no opposition to the
Creditors' Committee undertaking discovery in connection with
discharging its duties.  However, in this instance, the request
for discovery against Midland is unnecessary and its request as to
Midland is moot, asserts Lenard Parkins, Esq., at Haynes and
Boone, LLP, in New York.

Mr. Parkins informs the Court that before the response to the
request came due, Midland provided the Creditors' Committee with
an electronic copy of its loan and collateral files, which
comprise of over 200,000 pages of documents.  Hence, Midland
insists that the request is moot and the relief requested from
Midland should be denied as moot.

                 Apollo Suggests Coordination

Apollo Investment Corporation tells Judge Chapman that it does not
object to the request and intends to work cooperatively with the
Creditors' Committee to comply with all reasonable and appropriate
discovery requests.

To that end, Apollo has suggested that the parties coordinate with
the Debtors and amongst themselves regarding document production
and other discovery efforts in connection with the request and
pending and likely contested matters.  Apollo expects to work
constructively with the Creditors' Committee and the other parties
to achieve that goal.

                     Other Parties Respond

Lehman ALI Inc. says it is prepared to consent to reasonable
discovery pursuant to Rule 2004 so long as the scope is not
overbroad and the request is not unduly burdensome.

Hence, Lehman asks that the (i) the scope of discovery sought by
the Creditors' Committee will be narrowed, and (ii) the Creditors'
Committee will be required to first seek production from the
Debtors and Apollo before turning to Lehman, as Lehman's document
production would be mostly if not wholly duplicative of the
document production of the Debtors and Apollo.

Wells Fargo Bank, N.A., says it will endeavor to work with the
Creditors' Committee to appropriately tailor the scope, nature and
timing of the Rule 2004 discovery.

                         *     *     *

The Court granted the request and authorized the Creditors'
Committee to seek discovery from the Debtors and their current and
former shareholder, and certain creditors, including Apollo,
Midland, Lehman, LNR Partners, LLC, CW Capital Asset Management,
LLC, and C-III Asset Management, LLC.

Judge Chapman noted that the authorization in no way limits the
rights of the recipients to object to the Subpoenas and Discovery
Requests consistent with the relevant Federal Rules of Civil
Procedure.

                   About Innkeepers USA Trust

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

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

Apollo Investment Corporation acquired Innkeepers in June 2007.

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

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

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

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


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

As counsel, Morrison & Foerster has agreed to:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

                   About Innkeepers USA Trust

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

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

Apollo Investment Corporation acquired Innkeepers in June 2007.

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

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

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

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


INNKEEPERS USA: Wins Final Approval to Access Cash Collateral
-------------------------------------------------------------
Judge Shelley C. Chapman of the United States Bankruptcy Court for
the Southern District of New York granted, on a final basis, the
request of Innkeepers USA Trust and its 91 Debtor affiliates
to continue to use cash Collateral.

As of March 31, 2010, the Debtors had incurred aggregate funded
secured indebtedness of approximately $1.42 billion, including
approximately $1.29 billion of property-level secured debt, of
which approximately $1.05 billion has been securitized and sold in
the commercial mortgage-backed security market.  The debt is
secured by mortgages on the hotels or pledges of the equity of the
Property Owners.  The Debtors' funded secured debt is comprised of
nine mortgage loans, two with related mezzanine loans, each of
which is secured by distinct hotel properties and related equity
interests in the Property Owners.

The Debtors, according to James H.M. Sprayregen, P.C., Esq., at
Kirkland & Ellis, LLP, in New York, need to use their cash
collateral for a seamless transition into bankruptcy to ensure
they are able to continue operating.  The Debtors need the cash
collateral to honor obligations to parties that provide goods and
services, including their franchisors, employees, hotel management
companies, suppliers of hotel-related goods and services,
utilities, and taxing authorities, Mr. Sprayregen adds.

The Debtors proposed that each group of Debtors under a Tranche of
Debt, and Innkeepers USA Trust, will use Cash Collateral to pay
expenses of operating the Debtors' business and fund the
restructuring materially in accordance with a 13-week forecast
from July 24 to October 16, 2010, a full-text copy of which is
available for free at http://bankrupt.com/misc/ikucashflow.pdf

All objections to the proposed access to cash collateral that have
not been withdrawn or resolved are overruled on their merits.
Those objections include those raised by Midland Loan Services,
Inc., Wells Fargo Bank, N.A., C-III Asset Management LLC and
CWCapital Asset Management LLC.

Judge Chapman noted that the Final Order is without prejudice
(i) to the rights of each of the Fixed Rate Representative, the
Floating Rate Lender, the Anaheim Lender, the Capmark Mission
Valley Lender, the Capmark Garden Grove Lender, the Capmark
Ontario Lender, the Merrill Washington D.C. Lender, the Merrill
Tysons Corner Lender, the Merrill San Antonio Lender, and the
applicable special servicers at any time to seek a modification of
the Final Order, or a different cash collateral order, including a
request for additional or other adequate protection or the
termination of the applicable Debtor's right to use Cash
Collateral, and (ii) to the rights of the Debtors at any time to
seek modification and extension of the Final Order, including an
increased use of Cash Collateral and a modification of adequate
protection.

As adequate protection for any diminution in the value of any
Adequate Protection Party's interest in the Prepetition Collateral
securing obligations owing to it during the Cash Collateral Period
and effective as of the Petition Date, the Debtors will pay or
reimburse the Representatives' necessary expenses.

To the extent of any Adequate Protection Obligations arising under
any Tranche of Debt, the applicable Adequate Protection Party will
receive a perfected replacement lien and security interest in and
valid, binding, enforceable and perfected liens on all of the
applicable Debtor's rights in deposits of Cash Collateral in the
Master Account and rights under all present and after-acquired
property and assets that would constitute Prepetition Collateral
of the Adequate Protection Party.

As further adequate protection for any Adequate Protection
Obligations, the applicable Adequate Protection Party will have an
administrative expense claim against the Debtors with obligations
arising under the applicable Tranche of Debt under Section 507(b)
of the Bankruptcy Code with priority over all other administrative
expense claims and unsecured claims against the Debtors.

A full-text copy of the Final Cash Collateral Order is available
for free at:

     http://bankrupt.com/misc/IKU_FOrder_CashColl_09022010.pdf

                   About Innkeepers USA Trust

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

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

Apollo Investment Corporation acquired Innkeepers in June 2007.

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

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

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

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


INSOUTH BANK: Tenn. Bank Rated E+ by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E+ rating to Brownsville, Tenn.-
based Insouth Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $374,520,000 in assets.


INTEGRA BANK: Ind. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Evansville, Ind.-based
Integra Bank NA.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $2,909,638,000 in assets.


INTER SAVINGS: Minn. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Maple Grove, Minn.-
based Inter Savings Bank FSB.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$688,403,000 in assets.


ISN BANK: N.J. Bank Rated E- by Weiss Ratings
---------------------------------------------
Weiss Ratings has assigned its E- rating to Cherry Hill, N.J.-
based ISN Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $84,266,000 in assets.


JEFFERSON BANK: Tex. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Dallas, Tex.-based
Jefferson Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $295,751,000 in assets.


JOHN GALLATY: Case Summary & 15 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: John Charles Gallaty
                 dba Humboldt International Services, LLC
               Deanna Simonne Smith Gallaty
               2880 Sinton Road
               Evergreen, CO 80439

Bankruptcy Case No.: 10-31446

Chapter 11 Petition Date: August 24, 2010

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: Elizabeth E. Brown

Debtor's Counsel: Lee M. Kutner, Esq.
                  KUTNER MILLER BRINEN, P.C.
                  303 E. 17th Ave.,Ste. 500
                  Denver, CO 80203
                  Tel: (303) 832-2400
                  Fax: (303) 832-1510
                  E-mail: lmk@kutnerlaw.com

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

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

A list of the Joint Debtors' 15 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cob10-31446.pdf


JORGE GARCIA: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Jorge Hector Garcia
        1240 SW Pepperridge Terrace
        Boca Raton, FL 33486

Bankruptcy Case No.: 10-35230

Chapter 11 Petition Date: August 25, 2010

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

Judge: Erik P. Kimball

Debtor's Counsel: John E. Page, Esq.
                  SHRAIBERG, FERRARA, & LANDAU P.A.
                  2385 NW Executive Center Dr #300
                  Boca Raton, FL 33431
                  Tel: (561) 443-0819
                  Fax: (561) 998-0047
                  E-mail: jpage@sfl-pa.com

Scheduled Assets: $906,988

Scheduled Debts: $5,078,114

A list of the Debtor's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flsb10-35230.pdf


K BANK: Md. Bank Rated E- by Weiss Ratings
------------------------------------------
Weiss Ratings has assigned its E- rating to Owings Mills, Md.-
based K Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $600,351,000 in assets.


KILEY RANCH: Housing Crash Prompted Bankruptcy Filing
-----------------------------------------------------
Bill O'Driscoll at RGJ.com reports that Kiley Ranch Communities
was launched several years ago as a "live-work community"
encompassing 40% residential, 27% commercial/business-park, 25%
public facilities/schools, neighborhood parks, trails and open
space, and 8% roads.  But the subsequent housing crash all but
halted home construction after a dozen homes were built.  Two
condominium complexes, Caviata at Kiley Ranch and Waterstone at
Kiley Ranch, have been converted into apartments because of slow
sales.

The Company said it owes $11.68 million to Cav Investment LLC;
$2.37 million, Kiley Community Properties Trust; $431,726,
Mountain West  Excavation; and $173,024 and $146,984, City of
Sparks.

Kiley Ranch Communities is a "live-work community" in progress in
the Spanish Springs Valley of Sparks.

Reno, Nevada-based Kiley Ranch Communities filed for Chapter 11
protection on August 26, 2010 (Bankr. D. Nev. Case No. 10-53393).
Stephen R. Harris, Esq., at Belding, Harris & Petroni, Ltd,
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.


LAKE COUNTRY: Minn. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Morristown, Minn.-
based Lake Country Community Bank.  The rating company says that
the institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $36,455,000
in assets.


LAKEVIEW BANK: Minn. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Lakeville, Minn.-based
Lakeview Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $58,894,000 in assets.


LANDMARK BANK: Fla. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Sarasota, Fla.-based
Landmark Bank of Florida.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$328,708,000 in assets.


LEGACY BANK: Ariz. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Scottsdale, Ariz.-
based Legacy Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $169,114,000 in assets.


LEGACY BANK: Fla. Bank Rated E by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E rating to Boca Raton, Fla.-based
Legacy Bank of Florida.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$327,439,000 in assets.


LEHMAN BROTHERS: JPMorgan Asks for Dismissal of Lawsuit
-------------------------------------------------------
JPMorgan Chase Bank N.A. has filed a motion to dismiss the
lawsuit by Lehman Brothers Holdings Inc., which accused the bank
of helping push the company into bankruptcy.

In court papers, JPMorgan says it was the only major bank that
continued to extend credit to LBHI's broker-dealer unit, Lehman
Brothers Inc., when the company was in the verge of collapse.

"JPMorgan typically extended more than $100 billion in credit
each day to LBI for the settlement and clearance of its
securities transactions," says Paul Vizcarrondo Jr., Esq., at
Wachtell Lipton Rosen & Katz, in New York.

JPMorgan is the primary clearing bank of LBI, which was
eventually sold to U.K.-based Barclays Capital Inc. after LBHI
and its affiliates filed for bankruptcy protection in September
2008.

"JPMorgan's willingness to continue making clearing advances to
LBI during those tumultuous days when it had every right to
refuse to do so allowed LBI to keep operating and made possible
the sale of LBI's business and assets to Barclays Capital," Mr.
Vizcarrondo says.

Except for the $8.6 billion that was posted as collateral,
JPMorgan did not require additional collateral even if it
continued extending credit after the bankruptcy filing, according
to the lawyer.  JPMorgan also agreed to step into the trades of
other parties that would no longer do business with LBHI "while
other financial players were running for the exits," Mr.
Vizcarrondo further says.

LBHI sued JPMorgan to recover the $8.6 billion that it seized as
collateral, of which $5 billion in cash was allegedly extracted
from the company on its final business day.  JPMorgan allegedly
threatened to discontinue its services unless the company posted
excessive collateral.

The lawsuit came two months after an examiner who was appointed
to investigate into what caused LBHI's bankruptcy published the
results of his investigation.

The examiner found colorable claims against JPMorgan in
connection with its demands for collateral in the final days of
LBHI.  The demands for collateral had direct impact on LBHI's
liquidity pool, according to the examiner.

Many investment bankers also believe that JPMorgan should have
been less heavy-handed with LBHI because by demanding so much
money up front, it depleted the company of needed cash and caused
its other creditors to demand collateral and stop lending to the
company.

JPMorgan, however, argued that the examiner's report makes clear
that it was not the conduct by the bank but the "ill-advised"
decision of LBHI to take on perilous leverage and to double-down
on subprime mortgages and overpriced commercial real estate that
led to its collapse.

                JPMorgan, et al., Ink Stipulation

In a related development, JPMorgan inked a stipulation with LBHI,
the Official Committee of Unsecured Creditors and the Federal
Reserve Bank of New York to protect the confidentiality of
"sensitive information" that may be shared in connection with the
lawsuit.

Wachtell Lipton will present the stipulation to Judge James Peck
for signature on September 10, 2010.  A full-text copy of the
stipulation is available without charge at:

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

Judge Peck earlier approved a similar stipulation among JPMorgan,
LBHI and the Creditors Committee.  The provisions in the initial
agreement were incorporated in the new stipulation with the
Federal Reserve.

                      About Lehman Brothers

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

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

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

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

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

                 International Operations Collapse

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

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

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


LEHMAN BROTHERS: LBI SIPA Trustee Files Preliminary Report
----------------------------------------------------------
"Lehman Brothers, Inc.'s liquidation arose from the chaos of a
failed attempt by its management to save the firm by either
raising capital and selling targeted assets, or finding a buyer
that would buy all or most of the enterprise," James W. Giddens,
as the Securities Investor Protection Act Trustee for the
liquidation of Lehman Brothers Inc., stated in a preliminary
report and recommendation delivered to the U.S. Bankruptcy Court
for the Southern District of New York in the last week of August
2010.

The Preliminary Report concludes that, at least until relatively
late in the day when panic and confusion set in, LBI's compliance
with the regulatory requirements designed for the protection of
customer property was good, and the requirements largely had the
effect they were supposed to have.  With a few important
exceptions, the SIPA Trustee said most customer property was
intact and accessible for satisfaction of customer claims or
transfer to other brokers -- precisely the purpose of the
regulations.  This, he said, was particularly true of the
customer property located in the United States; obtaining that
which was or should have been held in foreign depositories has
proved more challenging and has met with less immediate success.

The SIPA Trustee also related that for the most part, the SIPA
also worked well, permitting implementation of the largest
account transfers in history.  Those transfers provided nearly
seamless treatment to the vast majority, though regrettably not
all, of LBI customers, avoiding loss and disruption to them and
the market as a whole, he said.

The remaining claims, though small in relation to the number and
value of accounts transferred, have nevertheless generated a
claims process which is by far the largest and most complex in
the history of SIPA or broker-dealer liquidations generally.  The
SIPA Trustee noted that administration of any of the four
remaining groups of claims -- accounts not included in the
Private Investment Management or Private Asset Management ranges
of transferred accounts for a variety of reasons, certain prime
brokerage accounts, claims under the Lehman Brothers
International (Europe)/LBI omnibus account through which LBI
served as U.S. clearing broker for LBIE and its customers, and
claims by LBHI and other Lehman affiliates -- would each in
itself dwarf virtually any previous broker-dealer liquidation.

Some of the lessons learned and problems discussed in the Report
relate to the particular structure of Lehman's transaction with
Barclays Capital Inc.  The transaction agreed to by the holding
company left LBI, a defunct broker-dealer, sandwiched between, on
the one hand, LBHI, a holding company entering Chapter 11 with a
desire to shed liabilities and retain businesses and assets; and,
on the other, an entity selectively acquiring some customer
accounts and buying some assets while seeking to de-risk the
transaction.

While another major liquidation might differ in detail, Lehman,
the SIPA Trustee said, presents a cautionary tale on the
unexpected dangers inherent in this structure.  The Lehman
experience, he pointed out, underscores the need for better
information, better planning, and better communication, whether
in a stand-alone SIPA liquidation or as part of a liquidation
involving a Federal Deposit Insurance Corporation takeover of
some assets under the new financial authority legislation.

In general, with some exceptions, the SIPA Trustee said he has
been regularly disappointed in the performance and attitudes of
many entities with which he has had to interact or which hold LBI
property or information.  While there have been professions of
cooperation, 'deeds have spoken louder than words,' he said.  "In
too many cases, the deeds have shown a pattern of delay,
incomplete information and creation of obstacles."

The SIPA Trustee Report contains eight principal specific
recommendations and ideas for further consideration:

  1. More pre-liquidation disaster planning, both on an
     individual broker-dealer and industry-wide basis, including
     what a brokerdealer's "living will" and emergency plan
     should include to alleviate the type of information gap
     which has confronted the Trustee in the LBI liquidation.

  2. Proposals for more robust and earlier pre-liquidation
     negotiation and focus by liquidators and regulators on the
     mechanics and consequences of transactions including
     partial customer account transfers.  Specifically,
     attention needs to be paid to provisions for access to
     assets, information systems and people, including a
     possible requirement of judicial findings on some of these
     issues prior to approval of transactions and extending the
     time for settling transactions after the filing date.

  3. Balancing clearing banks' and others' safe harbor rights
     against the needs for transparency and respect for broker
     dealers' obligations to segregate customer property in
     order to prevent denial of access to screens and seizure of
     that which should be segregated customer property.

  4. Study of clearing agencies' emergency rules so that the
     rules function as expected in emergencies, the operation
     and consequences of the emergency rules are better
     understood and the results strike the proper balance among
     competing interests.

  5. Suggestions for possible reconsideration of the unitary
     nature of the fund of customer property in favor of funds
     tailored to different forms of accounts, to correspond to
     customer expectations and differences in account
     relationships.

  6. Increasing SIPC's financial resources and borrowing
     authority in a prudent way that minimizes taxpayer costs,
     but adds flexibility in the purposes for which those
     financial resources could be used.

  7. Recommendations for short term reinstatement of the
     automatic stay with provision for SIPC and a SIPA trustee
     to consent to relief to permit prompt liquidation of
     collateral and return of excess or marking to market to
     cure deficiencies.

  8. Rational rules for unwinding outstanding non-customer
     financial transactions on terms that protect both the
     broker-dealer's estate and counterparties while providing
     certainty and reducing costs.

A full-text copy of the SIPA Trustee Preliminary Report is
available for free at http://bankrupt.com/misc/sipareport0904.pdf

                        About Lehman Brothers

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

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

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

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

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

                 International Operations Collapse

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

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

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


LEHMAN BROTHERS: Merit LLC Wants Plan Exclusivity Until February
----------------------------------------------------------------
Merit LLC and two other debtor affiliates of Lehman Brothers
Holdings Inc. ask the U.S. Bankruptcy Court for the Southern
District of New York to extend the period during which they have
exclusive right to file and solicit votes for their restructuring
plans.

In a motion, Merit LLC, LB Somerset LLC and LB Preferred Somerset
LLC seek to extend the deadline for filing their Chapter 11 plans
to February 15, 2011, and for soliciting votes to that Plan to
April 15, 2011.

The Lehman units only sought for bankruptcy protection in
December 2009 or more than a year after LBHI and its other
affiliates filed their bankruptcy cases.

Jacqueline Marcus, Esq., at Weil Gotshal & Manges LLP, in New
York, says the Lehman units will spend the next five months to
finalize a settlement with Somerset Associates LLC and Somerset
Properties SPE LLC, and to engage in talks with other creditors.

The Somerset entities earlier blocked court approval to extend
the deadline for LB Somerset and LB Preferred to file their
restructuring plans, saying they lack equity in their property
and that their restructuring plan cannot be confirmed.

Somerset Associates holds claims in the sum of $5,090,609 against
each of the Lehman units, which claims stemmed from the Lehman
units' failure to fulfill their obligations under an operating
agreement with Falls of Neuse Investments LLC.  The agreement was
hammered out after FNI and the Lehman units formed Somerset
Associates to acquire a real property in Raleigh, North Carolina.

The Court will consider the proposed extension at the hearing
scheduled for September 22, 2010.  Deadline for filing objections
is September 15, 2010.

                        About Lehman Brothers

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

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

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

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

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

                 International Operations Collapse

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

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

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


LEHMAN BROTHERS: Proposes Compromise With SunCal Debtors
--------------------------------------------------------
Lehman Brothers Holdings Inc. and its units ask the U.S.
Bankruptcy Court for the Southern District of New York to approve
a settlement pursuant to terms set forth in an amended and
restated term sheet by and among:

  (a) Lehman Commercial Paper, Inc., on its own behalf and as
      agent for the First Lien Lenders;

  (b) Alfred H. Siegel, the Chapter 11 trustee of the estates of
      LBREP/L-SunCal Master I, LLC, and LBREP/L-SunCal
      McAllister Ranch, LLC, LBREP/L-SunCal McSweeny Farms, LLC,
      and LBREP/L-SunCal Summerwind Ranch, LLC, which are being
      jointly administered under Case No. 08-15588 in the United
      States Bankruptcy Court for the Central District of
      California; and

  (c) the Official Committee of Unsecured Creditors in the
      SunCal Bankruptcy Cases.

In 2006 and 2007, LBREP/L-SunCal Master I, LLC -- the SunCal
Parent -- borrowed a total of $395 million through certain credit
agreements with LCPI, as agent and lender.  The SunCal Parent's
obligations under the credit agreements were secured by first and
second liens against certain of SunCal's properties.

On September 10, 2008, involuntary Chapter 11 cases were filed
against the SunCal Debtors.  On or about October 9, 2009, the
SunCal Trustee filed a motion in the SunCal Bankruptcy Cases
seeking the approval of a settlement pursuant to the terms of an
original term sheet by and among LCPI, the SunCal Trustee, and
the SunCal Committee.  Following the filing of the Original
Settlement Motion, a dispute arose between LCPI, on the one hand,
and the SunCal Trustee and the SunCal Committee, on the other
hand, regarding the interpretation of a provision in the Original
Term Sheet.  The parties were initially unable to resolve their
differences.

As suggested by the Southern New York Bankruptcy Court, the
parties resumed negotiations, resolve their differences, reached
a settlement, and executed an Amended Term Sheet.

Under the Amended Term Sheet, the properties used as the First
Lien Lenders' collateral will be sold through a plan of
reorganization, subject to LCPI's right to credit bid.  The
SunCal Trustee and the SunCal Committee have agreed, among other
things, that:

  (a) the First Lien Lenders will have an allowed secured claim
      in the SunCal Bankruptcy Cases equal to the proceeds
      realized by them from the sale of the Properties plus
      certain cash proceeds to be remitted to the First Lien
      Lenders by the SunCal Trustee after each amount is
      adjusted to account for certain "carve outs" and
      obligations;

  (b) the First Lien Lenders will have an allowed general
      unsecured claim in the SunCal Bankruptcy Cases in the
      amount of their deficiency claims; and

  (c) the SunCal Trustee, the SunCal Committee and the SunCal
      Debtors' estates will provide broad releases to the First
      Lien Lenders, LCPI, and their officers, directors,
      employees, agents and attorneys.

In return, LCPI on its own behalf and as agent for the First Lien
Lenders, has agreed that certain of the First Lien Lenders' cash
collateral will be "carved out" for the benefit of the
administration of the SunCal Debtors' estates, and that certain
other cash collateral held by the SunCal Debtors may be used to
preserve the Properties until sale.  In addition, the First Lien
Lenders have agreed to share with the unsecured, non-lender
creditors in the SunCal Bankruptcy Cases a portion of the
proceeds from the sale of the Properties and certain litigation
recoveries.

Specifically, upon approval of the amended term sheet in both
bankruptcy courts, the SunCal Debtors' estates will receive
$5.5 million in cash.  Of this sum, $3.5 million will be available
for use by the SunCal Trustee to administer the SunCal Debtors'
cases and to pursue the SunCal Debtors estates' claims against
other third parties.  The remaining $2.0 million will be used by
the SunCal Trustee to maintain and preserve the Properties'
pending sale with any unused residual amount to be transferred to
the First Lien Lenders after the sale of the Properties has
closed.

Also, through the SunCal Debtors' plan of reorganization
contemplated under the Amended Term Sheet, the proceeds of any
other recoveries by the SunCal Trustee excluding proceeds from
the sale of the Properties and certain funds currently on deposit
with the Yucaipa Valley Water District will be split 50/50
between (a) the First Lien Lenders on account of their unsecured
deficiency claims, and (b) the SunCal Debtors' estates for
distribution to the SunCal Debtors' unsecured non-lender
creditors.

The SunCal Debtors' estates will also be entitled to 3.5% of any
net recovery from the sale of the Properties to a third party,
whether through the plan or subsequently by LCPI after a credit
bid.  The Amended Term Sheet recognizes that there could be
mechanics liens encumbering the Property that are senior to the
lien of the First Lien Lenders.  To the extent title insurance is
not available to cover those claims, those senior mechanics
liens, if any, will either be paid from the proceeds of a third
party sale of the Properties, or in the event of an LCPI credit
bid, will remain a lien on the Properties.  In essence, the 3.5%
recovery for the SunCal Debtors estate comes out of the sale
proceeds otherwise payable to the First Lien Lenders.

LCPI believes that the concessions it made under the Amended Term
Sheet are reasonable in view of the benefits it will derive from
the amended terms.

The Southern New York Bankruptcy Court will convene a hearing on
September 22 to consider approval of the request.  Objections are
due no later than September 15.

                        About Lehman Brothers

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

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

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

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

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

                 International Operations Collapse

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

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

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


LEHMAN BROTHERS: Proposes Settlement With Aurora Bank
-----------------------------------------------------
Lehman Brothers Holdings Inc. and its affiliated debtors seek
court approval of a settlement with Aurora Bank FSB that would
further pave the way for regulatory approval of the bank's
business plan.

The settlement deal calls for the transfer to Aurora Bank of
$577 million in cash and another $409.3 million worth of assets,
and the resolution of claims stemming from inter-company
transactions in consideration of the capital transfer.

The deal also requires LBHI to pay additional cash of
$14.4 million to Aurora Bank to settle certain claims and up to
$10.6 million, the exact amount of which is yet to be negotiated.

In exchange, Aurora Bank agreed to return $293.7 million worth of
assets that were posted as collateral under a 2008 master forward
agreement.  The assets consist of commercial loans owed to LBHI
and its affiliates.

Aurora Bank's $2.1 billion claim against LBHI for the company's
alleged breach of the MFA will also be expunged upon court
approval of the settlement.

The resolution of the $2.1 billion claim is an important aspect
of the settlement because it would pave the way for the lifting
of certain regulatory restrictions, which the Office of Thrift
Supervision imposed on Aurora Bank's operations due to its
diminishing capital level.

Aurora Bank's total capital is expected to exceed $825 million
after the settlement deal takes effect.  The deal is formalized
in a 28-page agreement, a copy of which is available for free at:

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

The settlement would allow Aurora Bank to expand its operations
and pursue a business plan to prepare the bank for a possible
sale within 18 months, according to LBHI's lawyer, Alfredo Perez,
Esq., at Weil Gotshal & Manges LLP, in Houston, Texas.  He adds
that LBHI would realize a return on its equity in Aurora Bank if
the latter is sold.

Aurora Bank's June 30, 2010 regulatory filing reported the value
of LBHI's equity interest in the bank at $677.6 million.

Aurora Bank will be put up for a sale either to a third party or
through a public share offering, according to a September 2
report by Financial Times.

Douglas Lambert, a managing director at restructuring firm
Alvarez & Marsal, says Aurora Bank would be perfect for a large
foreign bank looking to enter the U.S. market like Banco
Santander.  He says LBHI had not yet had discussions with
Santander or other potential buyers, Financial Times reported.

                        Other Agreements

In connection with the settlement, LBHI seeks the Court's
authority to enter into a capital maintenance agreement and a new
tax allocation agreement with Aurora Bank.

The CMA calls for LBHI to inject fund to Aurora Bank to maintain
its 11% or 15% capital level in case the bank's capital falls
below that level.  A full-text copy of the CMA is available for
free at http://bankrupt.com/misc/LBHI_CMAAuroraBank.pdf

The other agreement requires Aurora Bank to make payments to LBHI
as if the bank were a separate taxpayer and requires LBHI to make
payments to Aurora Bank to compensate the bank for its losses or
credits.  A full-text copy of the agreement is available for free
at http://bankrupt.com/misc/LBHI_NTAAurora.pdf

LBHI also wants to extend the terms of an amended repurchase
agreement and financing facility for the duration of its
ownership of Aurora Bank and the bank's servicing subsidiary,
Aurora Loan Services LLC.  The proposed extension is required by
the OTS and is a condition to approval of the settlement deal.

The company also seeks approval to contribute to Aurora Bank a
portfolio of its servicing rights of about 33,000 residential
mortgage loans.

The Court will consider approval of LBHI's request at a hearing
scheduled for September 22, 2010.  Deadline for filing objections
is September 15, 2010.

                        About Lehman Brothers

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

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

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

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

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

                 International Operations Collapse

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

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

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


LEHMAN BROTHERS: Proposes Settlement With Woodlands
---------------------------------------------------
Lehman Brothers Holdings Inc. and its affiliated debtors seek
court approval of a settlement of claims with Woodlands
Commercial Bank.

Woodlands Commercial is a Utah-based chartered industrial bank
owned by LBHI's subsidiary, Lehman Brothers Bancorp Inc.

The settlement deal calls for the transfer of $75 million in cash
to Woodlands, and the cancellation of LBHI's participation rights
to the first $200 million recovered from Woodlands' customer
claim against Lehman Brothers Inc.

Woodlands filed the customer claim for the undelivered municipal
bond securities, which it purchased through LBI.  The buy-out and
LBI's alleged failure to segregate the securities, which were
taken by its clearing bank JPMorgan purchase, reportedly caused
the decline in Woodlands' capital level.

LBHI was granted participation in the customer claim in exchange
for the $200 million it provided to Woodlands in 2009 to raise
the bank's capital level, which at that time was at risk of being
seized and liquidated by the Federal Deposit Insurance Corp.

The settlement deal also requires Woodlands to release its
security interest in assets that were posted as collateral under
a security agreement with LBHI's affiliated debtor, Luxembourg
Residential Properties Loan Finance Sarl.  The assets will be
returned to Luxembourg Residential and the security agreement
will be cancelled.

The settlement is formalized in a 22-page agreement, a copy of
which is available for free at:

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

In connection with the settlement, LBHI also seeks court approval
to execute a capital maintenance agreement and a new tax
allocation agreement with Woodlands.

The CMA requires LBHI to provide fund to Woodlands to maintain
the bank's capital at the 11% or 15% level for the duration of
LBHI's ownership or control of the bank.

The other agreement addresses tax matters between Woodlands and
LBHI for the year beginning January 1, 2010, and for all
subsequent taxable years in which Woodlands is included in the
federal consolidated returns or state combined returns with LBHI
and other members of the affiliated group.

Copies of the agreements are available without charge at:

       http://bankrupt.com/misc/LBHI_CMAWoodlands.pdf
       http://bankrupt.com/misc/LBHI_NTAWoodlands.pdf

During the 18-month period following the effective date of the
CMA and while Woodlands is implementing its orderly wind-down,
LBHI will be authorized to market the bank for sale, according to
LBHI's lawyer, Alfredo Perez, Esq., at Weil Gotshal & Manges LLP,
in Houston, Texas.

In case Woodlands is not sold, LBHI will be required to purchase
the bank's remaining non-cash assets while Woodlands will pay off
its remaining deposit liabilities, if any, Mr. Perez says.

The Court will consider approval of LBHI's request at a hearing
scheduled for September 22, 2010.  Deadline for filing objections
is September 15, 2010.

                        About Lehman Brothers

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

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

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

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

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

                 International Operations Collapse

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

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

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


LESTER BELCHER, III: Case Summary & 2 Largest Unsecured Creditors
-----------------------------------------------------------------
Joint Debtors: Lester J. Belcher, III
               Deborah A. Belcher
               1441 Shot Town Road
               Annapolis, MD 21403

Bankruptcy Case No.: 10-29503

Chapter 11 Petition Date: August 25, 2010

Court: U.S. Bankruptcy Court
       District of Maryland (Baltimore)

Judge: James F. Schneider

Debtors' Counsel: Tate Russack, Esq.
                  RUSSACK ASSOCIATES, LLC
                  100 Severn Avenue, Suite 101
                  Annapolis, MD 21403
                  Tel: (410) 505-4150
                  Fax: (410) 510-1390
                  E-mail: tate@russacklaw.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' two largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/mdb10-29503.pdf


LIBERTY SAVINGS: Pa. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Pottsville, Pa.-based
Liberty Savings Bank FSB.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $31,448,000
in assets.


LONE TREE: Gets Interim Nod to Sell Homes & Residential Lots
------------------------------------------------------------
Lone Tree Investments, LLC, et al., sought and obtained interim
authorization from the Hon. Redfield T. Baum, Sr., of the U.S.
Bankruptcy Court for the District of Arizona to continue selling
homes and residential lots.

Proceeds received by the Debtors, after payment of commissions,
closing costs, and other expenses will be held in a segregated
account until such time as their use is authorized by Johnson Bank
or court order.

Pursuant to a construction loan agreement, dated June 26, 2008,
with the Debtors, Johnson Bank agreed to advance to the Debtors as
much as $25,000,000.  The documents executed by the Debtors in
connection with the Johnson loan establish a regime whereby 75% of
the gross proceeds generated through the sale of any portion of
the Pine Canyon subject to Johnson's lien is transferred to
Johnson.

Lot 46 of Tract 21, Amended Final Plat of Mountain Villas at Pine
Canyon, will not be sold without the consent of Wespac
Communities, Inc., or its designee, or a court order.

The Court has set a hearing for September 23, 2010 at 1:30 p.m. on
the Debtors' request to sell homes and residential lots.

Lone Tree Investments LLC owns and operates the residential
community, golf course, and related facilities commonly known as
Pine Canyon in Flagstaff, Arizona.  Lone Tree, together with five
affiliates, filed for Chapter 11 bankruptcy protection on August
24, 2010 (Bankr. D. Ariz. Lead Case No. 10-26776).  John J.
Hebert, Esq., at Polsinelli Shughart, P.C., assists the Debtors in
their restructuring effort.  Lone Tree estimated its assets at
$50 million to $100 million and debts at $10 million to
$50 million.


LONE TREE: Gets Court's Interim Nod to Obtain DIP Financing
-----------------------------------------------------------
Lone Tree Investments, L.L.C., et al., sought and obtained interim
authorization from the Hon. Redfield T. Baum, Sr., of the U.S.
Bankruptcy Court for the District of Arizona to incur up to
$1,000,000 in revolving indebtedness to Flagstaff Acquisitions,
L.L.C.

The Debtors are allowed to request that funds be advanced under
the Postpetition Advance, as many times as is necessary, so long
as the balance owing to Lender never exceeds $1,000,000.  Any
funds advanced as part of the postpetition advance will be secured
by a first-position lien on the Debtors' property, priming the
lien of Johnson Bank on the Property.  According to the Debtors'
records, no creditors hold a security interest in the Property
other than Johnson.

John J. Hebert, Esq., Polsinelli Shughart PC, explained that the
Debtors need the money to fund their Chapter 11 case, pay
suppliers and other parties.

The DIP facility will mature on November 30, 2010.  The DIP
facility will incur interest at 15% per annum.

About 75% of the net proceeds generated through the sale of any of
the Property will be remitted to Lender (to a maximum of the
amount then due to Lender) and applied to the outstanding balance,
the remaining 25% (or higher amount) will be remitted to Johnson,
presuming that the sale is of property that is part of Johnson's
collateral.

The Court has set a final hearing for September 23, 2010, at
1:30 p.m. on the Debtors' request to obtain DIP financing.

More information on the DIP financing is available for free at:

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

Lone Tree Investments LLC owns and operates the residential
community, golf course, and related facilities commonly known as
Pine Canyon in Flagstaff, Arizona.  Lone Tree, together with five
affiliates, filed for Chapter 11 bankruptcy protection on
August 24, 2010 (Bankr. D. Ariz. Lead Case No. 10-26776).  John J.
Hebert, Esq., at Polsinelli Shughart, P.C., assists the Debtors in
their restructuring effort.  Lone Tree estimated its assets at
$50 million to $100 million and debts at $10 million to
$50 million.


LOWELL CO-OP: Mass. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Lowell, Mass.-based
Lowell Co-Op Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $89,078,000 in assets.


MACATAWA BANK: Mich. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Holland, Mich.-based
Macatawa Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $1,715,055,000 in assets.


MARITIME SAVINGS: Wisc. Bank Rated E- by Weiss Ratings
------------------------------------------------------
Weiss Ratings has assigned its E- rating to West Allis, Wisc.-
based Maritime Savings Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$367,509,000 in assets.


MAULDING DEV'T: Section 341(a) Meeting Scheduled for Oct. 22
------------------------------------------------------------
The U.S. Trustee for Region 21 will convene a meeting of Maulding
Development, LLC's creditors on October 22, 2010, at 1:00 p.m.
The meeting will be held at Illinois Building - 1st Floor,
Springfield, Illinois.

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.

Springfield, Illinois-based Maulding Development, LLC, filed for
Chapter 11 bankruptcy protection on August 31, 2010 (Bankr. C.D.
Ill. Case No. 10-72715).  James R. Enlow, Esq., who has an office
in Springfield, Illinois, assists the Debtor in its restructuring
effort.  The Debtor estimated its assets and debts at $10 million
to $50 million.


MBANK: Ore. Bank Rated E- by Weiss Ratings
------------------------------------------
Weiss Ratings has assigned its E- rating to Gresham, Ore.-based
MBank.  The rating company says that the institution currently
demonstrates what it considers to be significant weaknesses and
has also failed some of the basic tests it uses to identify fiscal
stability.  "Even in a favorable economic environment," Weiss
says, "it is our opinion that depositors or creditors could incur
significant risks."  As of March 31, 2010, the institution's
balance sheet showed $241,476,000 in assets.


MCCLAVE STATE: Colo. Bank Rated E+ by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E+ rating to McClave, Colo.-based
McClave State Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $20,062,000 in assets.


MCINTOSH STATE: Ga. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Jackson, Ga.-based
Mcintosh State Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $393,546,000 in assets.


MEDLINK INTERNATIONAL: Earns $359,400 in June 30 Quarter
--------------------------------------------------------
MedLink International Inc. filed its quarterly report on Form
10-Q, reporting net profit of $359,443 on $1.6 million of revenue
for the three months ended June 30, 2010, compared with a net loss
of $195,450 on $115,783 of revenue for the same period last year.

Through June 30, 2010, the Company had incurred cumulative losses
of $21.1 million.  As of June 30, 2010, the Company has negative
working capital of $512,839.

The Company's balance sheet at June 30, 2010, showed $3.1 million
in total assets, $2.0 million in total liabilities, and
stockholders' equity of $1.1 million.

Jewett, Schwartz, Wolfe & Associates, in Hollywood, Fla.,
expressed substantial doubt about the Company's ability to
continue as a going concernm following its 2009 results.  The
independent auditors noted that through December 31, 2009, the
Company had incurred cumulative losses of $21.4 million, and
additionally, has negative working capital of $1.7 million as of
December 31, 2009.

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

               http://researcharchives.com/t/s?6ae4

                   About MedLink International

Ronkonkoma, N.Y. Based MedLink International Inc. is a healthcare
information enterprise system business focused on the physician
sector.  The Company is in the business of selling, implementing
and supporting software solutions that provide healthcare
providers with secure access to clinical, administrative and
financial data in real-time, allowing them to improve the quality,
safety and efficiency in the delivery of healthcare services
primarily through the sale of its flagship product the MedLink
Total Office EHR.


MEXICANA AIRLINES: ASUR Updates Impact of Firm's Suspension
-----------------------------------------------------------
Grupo Aeroportuario del Sureste, S.A.B. de C.V. disclosed on
September 7, 2010 that Compania Mexicana de Aviacion, S.A. de C.V.
has been granted bankruptcy protection and that Mexicana Inter,
S.A. de C.V. and Aerovias Caribe, S.A. de C.V. have also filed for
bankruptcy protection.

Mexicana, Aerovias Caribe and Mexicana Link, which operated in all
of ASUR's airports with the exception of Tapachula, represented
10.88% of the Company's revenues for the eight month period ended
August 31, 2010, primarily from domestic passengers.

ASUR estimates that Ps.132.54 million in accounts receivable could
be at risk of not being recovered as of August 31, 2010.  As a
result, during the third quarter of fiscal year 2010 ASUR will
make corresponding provisions for each of the three companies
through which Grupo Mexicana operated.

ASUR believes that the majority of the routes operated by Grupo
Mexicana were also operated by other carriers and thus the
ultimate impact from the suspension of operations will not be in
the same proportion as the number of flights cancelled.  However,
the Company cannot be sure that competing carriers will seek to
increase their flight schedules or of the impact that this could
have on the Company's business and results of operations, which
could be adversely affected if traffic does not migrate to its
other airline customers.

Below is a table with the number of routes operated by Grupo
Mexicana before its suspension of operations on August 28, 2010
and the number of other airlines currently flying each of those
routes.



       Origin /Destination            ASUR        Number of airlines flying
                                                     the same route today
    Cd. Mexico                 Cancun                                      3
    Miami / Ft. Lauderdale     Cancun                                      3
    Chicago                    Cancun                                      3
    New York (JFK, EWR)        Cancun                                      3
    Washington                 Cancun                                      3
    Cd. de Mexico              Merida                                      3
    Cd. de Mexico              Huatulco                                    3
    Los Angeles                Cancun                                      2
    La Habana                  Cancun                                      2
    Cd. de Mexico              Veracruz                                    2
    Cd. de Mexico              Villahermosa                                2
    Cd. de Mexico              Minatitlan                                  1
    Cd. de Mexico              Oaxaca                                      1
    Puebla                     Cancun                                      1
    Cancun                     Merida                                      1
    Villahermosa               Merida                                      1
    Guadalajara                Veracruz                                    1
    Veracruz                   Villahermosa                                1
    Bogota                     Cancun                                      0
    San Jose, C.R.             Cancun                                      0
    Guatemala                  Cancun                                      0

                           About ASUR

Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASUR) is a
Mexican airport operator with concessions to operate, maintain and
develop the airports of Cancun, Merida, Cozumel, Villahermosa,
Oaxaca, Veracruz, Huatulco, Tapachula and Minatitlan in the
southeast of Mexico.  The Company is listed both on the NYSE in
the U.S., where it trades under the symbol ASR, and on the Mexican
Bolsa, where it trades under the symbol ASUR.  One ADS represents
ten (10) series B shares.

                      About Mexicana Airlines

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

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

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

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

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

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


MERAMEC VALLEY: Mo. Bank Rated E by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E rating to Valley Park, Mo.-based
Meramec Valley Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $129,267,000 in assets.


MERRIMAC SB: Mass. Bank Rated E by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E rating to Merrimac, Mass.-based
Merrimac SB.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $61,756,000 in assets.


MERRIMAC SB: Mass. Bank Rated E by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E rating to Merrimac, Mass.-based
Merrimac SB.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $61,756,000 in assets.


METROPOLITAN NATIONAL: Ark. Bank Rated E- by Weiss Ratings
----------------------------------------------------------
Weiss Ratings has assigned its E- rating to Little Rock, Ark.-
based Metropolitan National Bank.  The rating company says that
the institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$1,412,216,000 in assets.


METROPCS WIRELESS: Moody's Assigns 'B2' Rating on $500 Mil. Notes
-----------------------------------------------------------------
Moody's Investors Service has assigned a B2 rating to MetroPCS
Wireless, Inc.'s proposed issuance of $500 million of Senior
Unsecured Notes due 2018, the proceeds of which will fund the
coincident tender offer for its existing 9.25% Senior Unsecured
Notes, currently due in November of 2014.  The B2 rating reflects
the senior unsecured status of the notes and subsidiary guarantees
and is consistent with the ratings for MetroPCS's other existing
senior unsecured debt.  Moody's has also affirmed the Company's
existing ratings, including the B1 Corporate Family Rating, as
outlined below.  The affirmations reflect Moody's expectations for
continued strong operating performance and solid liquidity over
the next 12-18 months.  The rating outlook is stable.

Despite a very challenging market environment, MetroPCS has seen a
meaningful improvement in subscriber growth during the first half
of 2010 and churn has fallen sharply to just 3.5% for the six
months ended June 30, 2010 from 5.4% for the prior year period.
This reduction in churn combined with the benefits of increased
scale, has resulted in strong margin performance despite ongoing
competitive pressure on voice pricing.  Capital expenditures are
expected to remain relatively flat as the Company's network
upgrade to LTE continues.  Robust revenue growth, fueled by
Moody's expectation for continued subscriber growth, relatively
stable ARPU (albeit at levels modestly lower than the $39.84 in 2Q
2010)and margin strength is expected to lead to meaningful free
cash flow generation in the future.  MetroPCS is launching LTE
service later this year and Moody's believe that higher revenue
data plans (in addition to various premium voice services) will
offset some of the pricing pressure on basic voice service.

Offsetting these favorable attributes, however, MetroPCS remains a
relatively small player in a highly competitive market that is
nearing saturation for voice services.  As new subscribers are
primarily those captured from competitors, the Company has been
forced to increase spending on handsets to attract and retain
subscribers.  Higher handset subsidies, including those related to
the increasing demand for smartphones, could pressure the
company's operating margins if the competitive pressure to
subsidize expensive handsets accelerates.

The proposed offering follows a similar refinancing of debt in
July.  After this action is complete, MetroPCS will have staggered
its debt maturity into more digestible pieces.  Based on this
improved maturity profile, Moody's anticipates that MetroPCS will
be in a position to retire debt upon maturity with internally
generated cash or cash on hand through 2015.  Moody's Senior Vice
President, Dennis Saputo, said "By proactively addressing the
looming maturity of two large debt issues, MetroPCS has laid a
base for a stable capital structure through 2015."

Moody's has taken these rating actions:

  -- Corporate Family Rating, Affirmed B1

  -- Probability of Default Rating, Affirmed B1

  -- Senior Secured Bank Credit Facility, Affirmed Ba1, LGD-2
     (19%)

  -- New Senior Unsecured Notes, B2, LGD-5 (75%)

  -- Existing Senior Unsecured Notes, Affirmed B2, LGD-5 (75%)

Outlook Actions:

  -- Outlook, Affirmed Stable
  -- Speculative Grade Liquidity Rating -- Affirmed SGL-1

Going forward, Moody's will pay close attention to the trends for
churn, net adds, handset subsidies and EBITDA margin.  Sustained
performance at or above the levels achieved in the first six
months of 2010, combined with Moody's expectation of resultant
lower leverage and higher interest coverage could lead to positive
rating action.

Moody's most recent rating action for MetroPCS was on July 2,
2010, when Moody's affirmed the Ba1 rating on the Company's
Amended Senior Secured Bank Credit Facility.

MetroPCS is a wholly owned subsidiary of MetroPCS Communications,
Inc., which provides unlimited use wireless service for a flat
monthly fee with no signed contract in major metropolitan markets
of the U.S. MetroPCS Communications, Inc., is based in Dallas,
Texas.


METROPCS WIRELESS: S&P Puts B Issue-Level Rating on $500MM Notes
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned MetroPCS Wireless
Inc.'s proposed $500 million senior unsecured notes due 2018 its
issue-level rating of 'B' (at the same level as the 'B' corporate
credit rating on parent company MetroPCS Communications Inc.).
The recovery rating on this debt is '4', indicating S&P's
expectation of average (30%-50%) recovery for noteholders in the
event of a payment default.  The company plans to use proceeds
primarily to purchase a comparable amount of its existing 9.25%
senior notes due 2014.

Richardson, Texas-based MetroPCS Communications' overall leverage,
which is 4.3x on a rolling-12-month basis (including S&P's
adjustments) through June 30, 2010, will not change as a result of
this transaction, although S&P expects the refinancing to modestly
improve the company's overall interest costs.

The corporate credit rating on MetroPCS is 'B' and the rating
outlook is positive.  The rating reflects a challenging business
model that targets lower income customers, a highly competitive
environment, and aggressive debt leverage.

                           Ratings List

                   MetroPCS Communications Inc.
        Corporate Credit Rating             B/Positive/--

                            New Rating

                   MetroPCS Wireless Inc.

              $500M sr unsecd nts due 2018        B
                Recovery Rating                   4


MICHAEL WATKINS: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Joint Debtors: Michael S. Watkins
               Cynthia A. Watkins
               111 76th Street, Unit #405
               Ocean City, MD 21842

Bankruptcy Case No.: 10-29379

Chapter 11 Petition Date: August 24, 2010

Court: U.S. Bankruptcy Court
       District of Maryland (Baltimore)

Judge: James F. Schneider

Debtors' Counsel: Adam M. Freiman, Esq.
                  SIRODY, FREIMAN & FELDMAN,P.C.
                  1777 Reisterstown Road, Suite 360 E
                  Baltimore, MD 21208
                  Tel: (410) 415-0445
                  Fax: (410) 415-0744
                  E-mail: afreiman@sfflegal.com

Scheduled Assets: $1,537,096

Scheduled Debts: $1,532,609

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/mdb10-29379.pdf


MICHIGAN COMMERCE: Mich. Bank Rated E- by Weiss Ratings
-------------------------------------------------------
Weiss Ratings has assigned its E- rating to Ann Arbor, Mich.-based
Michigan Commerce Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$1,207,076,000 in assets.


MIDWEST COMMUNITY: Kan. Bank Rated E- by Weiss Ratings
------------------------------------------------------
Weiss Ratings has assigned its E- rating to Plainville, Kan.-based
Midwest Community Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$100,637,000 in assets.


MIKE TYSON: S.D.N.Y. Reverses Gibralter Veil-Piercing Ruling
------------------------------------------------------------
Under English law, WestLaw reports, the corporate form of a
Gibraltar shell corporation assigned the international
distribution rights for a boxing match involving a Chapter 11
debtor-former world heavyweight boxing champion could not be
pierced to hold liable for the corporation's obligations parties
that were legally unrelated to the corporation.  It did not matter
if those parties, consisting of a British boxing promoter, his
British partnership and corporate minority partner, and the
partnership's chief executive officer, used the corporation as a
facade concealing true facts, given the absence of statutory
authority authorizing such relief.  Additionally, the New York
district court ruled on an appeal from a bankruptcy court
decision, the Gibraltar corporation's corporate veil could not be
pierced under English law where, at the time the corporation was
introduced to the transaction, the parties to be held liable had
not yet incurred any legal obligations to the debtor-boxer or the
Kentucky promoters with respect to the sale of the international
rights, and the existence of the corporation was not concealed
from the debtor-boxer or the Kentucky promoters.  In re Michael G.
Tyson, --- B.R. ----, 2010 WL 2925112 (S.D.N.Y.) (Cote, J.).

The Honorable Denise Cote's decision reverses the ruling, 412 B.R.
623, 2009 WL 2526476, by the Honorable Allan L. Gropper in Tyson,
et al. v. Straight-Out Promotions, LLC, et al. (Bankr. S.D.N.Y.
Adv. Pro. No. 05-02210), and potentially entitles Mr. Tyson to
more than $1 million from a professional heavyweight boxing match
held on July 30, 2004, in Louisville, Ky., between Mr. Tyson and
Danny Williams.

Professional boxer and former world heavyweight champion Michael
G. Tyson sought protection under Chapter 11 (Bankr. S.D.N.Y. Case
No. 03-41900) on Aug. 1, 2003, along with Mike Tyson Enterprises,
Inc. (Bankr. S.D.N.Y. Case No. 03-41901).  Robert Joel Feinstein,
Esq., Alan J. Kornfeld, Esq., and Beth E. Levine, Esq., Pachulski,
Stang, Ziehl, Young, Jones & Weintraub P.C., represent Mr. Tyson
and the MGT Chapter 11 Liquidating Trust established under the
terms of his Chapter 11 plan dated June 24, 2004.  The Trust, for
which R. Todd Neilson serves as the Plan Administrator, has the
authority to collect proceeds from a series of post-confirmation
bouts Mr. Tyson agreed to hold and to prosecute causes of action
on behalf of Tyson's estate.


MILFORD BUILDING: Ill. Bank Rated E- by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E- rating to Milford, Ill.-based
Milford Building & Loan ASSN.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $22,736,000
in assets.


MILLENNIUM BANK: Va. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Sterling, Va.-based
Millennium Bank NA.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $231,268,000 in assets.


MILTON SB: Wisc. Bank Rated E- by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E- rating to Milton, Wisc.-based
Milton SB.  The rating company says that the institution currently
demonstrates what it considers to be significant weaknesses and
has also failed some of the basic tests it uses to identify fiscal
stability.  "Even in a favorable economic environment," Weiss
says, "it is our opinion that depositors or creditors could incur
significant risks."  As of March 31, 2010, the institution's
balance sheet showed $16,953,000 in assets.


MONROE BANK: Mich. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Monroe, Mich.-based
Monroe Bank & Trust.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $1,381,050,000 in assets.


MONTGOMERY BANK: Ga. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Ailey, Ga.-based
Montgomery Bank & Trust.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$238,943,000 in assets.


MORAN LAKE: Section 341(a) Meeting Scheduled for Sept. 30
---------------------------------------------------------
The U.S. Trustee for Region 21 will convene a meeting of Moran
Lake Convalescent Center, LLC's creditors on September 30, 2010,
at 3:00 p.m.  The meeting will be held at Third Floor - Room 368,
Russell Federal Building, 75 Spring Street SW, Atlanta, GA 30303.

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.

Rome, Georgia-based Moran Lake Convalescent Center, LLC, filed for
Chapter 11 bankruptcy protection on August 31, 2010 (Bankr. N.D.
Ga. Case No. 10-43405).  George D. Houser, Esq., in Sandy Springs,
Georgia, assists the Debtor in its restructuring effort.  In its
schedules, the Debtor disclosed $12 million in total assets and
$6 million in total liabilities as of the Petition Date.


MOTHER LODE: Calif. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Sonora, Calif.-based
Mother Lode Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $59,042,000 in assets.


MOUNTAIN 1ST: N.C. Bank Rated E by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E rating to Hendersonville, N.C.-
based Mountain 1st Bank & Trust Co.  The rating company says that
the institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$810,049,000 in assets.


MOUNTAIN HERITAGE: Ga. Bank Rated E- by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E- rating to Clayton, Ga.-based
Mountain Heritage Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$118,881,000 in assets.


NANTAHALA BANK: N.C. Bank Rated E by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E rating to Franklin, N.C.-based
Nantahala Bank & Trust Co.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$208,080,000 in assets.


NASHVILLE SENIOR: Stays Required When Co-Owned Property Is Sold
---------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the U.S. Court of Appeals in Cincinnati ruled on
Sept. 3 that when a bankruptcy judge approves the sale of co-owned
property, the non-bankrupt owner must obtain a stay pending
appeal; otherwise the appeal will be dismissed.

The case -- Official Creditors' Committee v. Anderson Senior
Living Property LLC (In re Nashville Senior Living LLC), 09-5812,
U.S. Court of Appeals for the Sixth Circuit (Cincinnati) --
involved nursing homes partly owned by a company in Chapter 11
under a form of ownership known as tenants in common.  The
co-owners, or tenants in common, were creditors.

According to Mr. Rochelle, the co-owners appealed after the
bankruptcy judge authorized sale of both the bankrupt company's
interest and the interest of the tenants in common.  The
bankruptcy appellate panel had affirmed. The Sixth Circuit in
Cincinnati, which upheld the lower courts, was dealing with
Section 363(m) of the Bankruptcy Code which says that a sale of a
bankrupt's property can't be challenged on appeal unless the order
authorizing the sale is stayed pending appeal. The co-owners
sought but were refused a stay pending appeal.

Mr. Rochelle says that the circuit court found no reason why the
requirement for a stay should apply only to cases where the
bankrupt has full ownership. If 363(m) doesn't apply, the appeals
court said, it is "unlikely any purchaser would agree to the sale
of co-owned property."

Nashville Senior Living, LLC, sought Chapter 11 protection (Bankr.
M.D. Tenn. Case No. 08-07254) on August 17, 2008, reporting less
than $1 million in assets and liabilities.  Seven affiliates --
see http://is.gd/17gmrand http://is.gd/17gp9-- contemporaneously
filed Chapter 11 petitions, each estimating up to $10 million in
assets and up to $100 million in liabilities.  Robert A. Guy,
Esq., at Waller Lansden Dortch & Davis, in Nashville, represents
the Debtor.


NATIONAL AUTOMATION: Incurs $819,500 Net Loss in June 30 Quarter
----------------------------------------------------------------
National Automation Services, Inc., filed its quarterly report on
Form 10-Q, reporting a net loss of $819,527 on $948,127 of revenue
for the three months ended June 30, 2010, compared with a net loss
of $1.1 million on $751,574 of revenue for the same period last
year.

The Company's operating revenues are insufficient to fund its
operations and its assets already are pledged to Trafalgar as
collateral for it outstanding $3.6 million (including interest) of
indebtedness.  The Company has an accumulated deficit of
$14.4 million and a working capital deficiency of $5.2 million at
June 30, 2010.

The Company's balance sheet at June 30, 2010, showed $1.1 million
in total assets, $6.1 million in total liabilities, and a
stockholders' deficit of $5.0 million.

Lynda R. Keeton CPA, LLC, in Henderson, Nev., 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 working capital deficiencies
and continued net losses.

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

               http://researcharchives.com/t/s?6ae5

                    About National Automation

Based in Henderson, Nev., National Automation Services, Inc.
(Pinksheets: NASV) -- http://www.nasautomation.com/-- is a Nevada
corporation which, through subsidiaries based in Nevada and
Arizona, designs, produces, installs and, to a significantly
lesser extent, services specialized mechanical and electronic
automation systems built to operate and control machinery and
processes with a minimum of human intervention.  Historically, the
Company has performed its work on projects located in the
Southwestern United States.


NATIONAL ENVELOPE: December 7 Fixed as Governmental Unit Bar Date
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has
established 4:00 p.m. (prevailing Eastern Time) on the 60th day
after the National Envelope Corporation file their schedules as
the last day for any individual or entity to file proofs of claim
against the Debtor.

Proofs of claim must be filed with the Debtors' claims agent:

by first class mail:

     Garden City Group, Inc.
     Attn: NEC Claims Processing Center
     P.O. Box 9619
     Dublin, OH 43017-4919

by overnight courier:

     Garden City Group, Inc.
     Attn: NEC Claims Processing Center
     5151 Blazer Pkwy., Suite A
     Dublin, OH 43017

December 7 at 4:00 p.m. is also fixed as governmental units bar
date.
                       About NEC Holdings

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

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

NEC Holdings estimated assets and debts of $100 million to
$500 million in its Chapter 11 petition.


NATIONAL ENVELOPE: Files Schedules of Assets and Liabilities
------------------------------------------------------------
National Envelope - City of Industry LLC, an affiliate of National
Envelope Corporation 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                $3,873,157
  B. Personal Property           $11,765,937
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                              $150,245,170
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $6,036,501
                                 -----------      -----------
        TOTAL                    $15,639,094     $156,281,671

National Envelope Corporation - Central, an affiliate, disclosed
$0 assets and $150,245,170 liabilities.

                       About NEC Holdings

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

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

NEC Holdings estimated assets and debts of $100 million to
$500 million in its Chapter 11 petition.


NATIONAL ENVELOPE: Gores Group Completes Sec. 363 Purchase
----------------------------------------------------------
The Gores Group, LLC has acquired substantially all of the assets
and assumed certain liabilities from National Envelope
Corporation, through a transaction under Section 363 of the U.S.
Bankruptcy Code.  The U.S. Bankruptcy Court for the District of
Delaware approved the transaction on August 23, 2010.

National Envelope Corporation was founded in 1952 and is the
largest envelope producer in the United States, manufacturing 37
billion envelopes annually.  Based in Frisco, Texas, NEC is an
official envelope converter for every major North American paper
mill in the $3.7 billion North American envelope industry,
generating revenues of approximately $600 million.

"NEC is the market leader in the merchant/wholesale channel, with
meaningful growth opportunities in the attractive consumer market.
Leveraging a national manufacturing presence and unparalleled
supplier and customer relationships, NEC will serve as an
attractive platform for future growth, both in the envelope
industry and across other relevant adjacencies," said Jordan W.
Katz, Managing Director of The Gores Group.

"We are very happy to be partnering with The Gores Group.  The
Gores Group has a solid reputation for working closely with the
companies it acquires to achieve full operational potential.  We
look forward to working with them to accelerate our performance
over time," stated Shelby Marlow, NEC's Chief Financial Officer.
"We are emerging a well-capitalized company that remains committed
to serving our customers with the highest level of quality,
service and professionalism."

Mr. Marlow added, "We continue to thank each of our employees,
customers and suppliers for their support, loyalty and cooperation
during the restructuring process.  We are very optimistic about
the long-term potential for NEC and the envelope industry."

                    About The Gores Group, LLC

The Gores Group, LLC is a private equity firm with $2.9 billion of
capital under management that is focused on acquiring controlling
interests in mature and growing businesses which can benefit from
the firm's operating experience and flexible capital base.  The
firm combines the operational expertise and detailed due diligence
capabilities of a strategic buyer with the seasoned M&A team of a
traditional financial buyer.  The Gores Group, LLC, which was
founded in 1987 by Alec E. Gores, has become a leading investor
having demonstrated over time a reliable track record of creating
substantial value in its portfolio companies alongside management.
Headquartered in Los Angeles, The Gores Group, LLC maintains
offices in Boulder, CO, and London.

                       About NEC Holdings

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

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

NEC Holdings estimated assets and debts of $100 million to
$500 million in its Chapter 11 petition.


NATIVE AMERICAN: Colo. Bank Rated E- by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E- rating to Denver, Colo.-based
Native American Bank NA.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $91,178,000
in assets.


NBRS FINANCIAL: Md. Bank Rated E+ by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E+ rating to Rising Sun, Md.-based
NBRS Financial Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $278,696,000 in assets.


NEAL ELINOFF: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Neal David Elinoff
          ods Elinoff Gallery Inc
          dba Elinoff & Co
          fmem LSMFT, LLC
          dba Neal Elinoff Real Estate
        P.O. Box 3992
        Telluride, CO 81435

Bankruptcy Case No.: 10-31659

Chapter 11 Petition Date: August 25, 2010

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: Michael E. Romero

Debtor's Counsel: Bonnie Bell Bond, Esq.
                  LAW OFFICE OF BONNIE BELL BOND, LLC
                  5613 DTC Pkwy., Suite 1200
                  Greenwood Village, CO 80111
                  Tel: (303) 770-0926
                  E-mail: bonnie@bellbondlaw.com

Scheduled Assets: $3,797,948

Scheduled Debts: $5,453,941

A list of the Debtor's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cob10-31659.pdf


NEFF CORP: Unsecured Creditors Attack Chapter 11 Plan
-----------------------------------------------------
Bankruptcy Law360 reports that Neff Corp.'s unsecured creditors
have savaged the Company's Chapter 11 plan for granting blanket
releases to the parties responsible for a ruinous leveraged buyout
in 2007 and ignoring hundreds of millions of dollars in claims
over the deal that pitched the company toward bankruptcy.

Certain Chartis Companies and Pima County have earlier filed
objections to the Plan.

                         The Chapter 11 Plan

Neff Corp. selected, at an auction, an affiliate of Wayzata
Investment Partners as the successful bidder to sponsor Neff's
Plan of Reorganization.

Neff has also filed with the Court a Second Amended Joint Plan to
incorporate the terms of Wayzata's successful bid.  As a result of
the auction, cash recoveries available to Neff's second lien
lenders have increased from $10 million to $73 million.  In
addition, first lien term loan lenders may elect to receive
payment in full in cash or participate in a rights offering for up
to $181.6 million.  The rights offering is fully backstopped by
Wayzata.

The hearing to consider confirmation of the Plan is scheduled to
occur on September 14, 2010.

                          About Neff Corp.

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

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

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

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


NEIGHBORHOOD NATIONAL: Minn. Bank Rated E+ by Weiss Ratings
-----------------------------------------------------------
Weiss Ratings has assigned its E+ rating to Alexandria, Minn.-
based Neighborhood National Bank.  The rating company says that
the institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $51,610,000
in assets.


NEVADA COMMERCE: Nev. Bank Rated E- by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E- rating to Las Vegas, Nev.-based
Nevada Commerce Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$201,418,000 in assets.


NEW HORIZONS: Ga. Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to East Ellijay, Ga.-
based New Horizons Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$124,190,000 in assets.


NEXITY BANK: Ala. Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to Birmingham, Ala.-based
Nexity Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $947,940,000 in assets.


NEXTIER BANK: Pa. Bank Rated E+ by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E+ rating to Butler, Pa.-based
Nextier Bank NA.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $574,108,000 in assets.


NORTEL NETWORKS: Court OKs Bid Process for Switch Business
----------------------------------------------------------
Nortel Networks Inc. and its affiliates obtained an order from
the U.S. Bankruptcy Court for the District of Delaware, approving
the bid process for the sale of their Multi Service Switch
business.

In an order dated September 1, 2010, Bankruptcy Judge Kevin Gross
authorized the Nortel units to conduct a sale by auction of their
MSS business, subject to approval of the bid process by the
Ontario Superior Court of Justice.

The Canadian Court oversees the insolvency cases filed by Canada-
based Nortel Networks Corp. and four of its affiliates.

NNC has already filed with the Canadian Court a motion for
approval of the bid process.  Ernst & Young Inc., the firm
appointed to monitor the assets of the Canadian Debtors, has also
filed its 52nd monitor report, recommending approval of the MSS
Sale Bid Process Approval Motion.

Judge Gross also approved the form of the sale agreement the
Nortel units reached with PSP Holding LLC, which offered to
acquire the MSS business for US$39 million.

PSP's offer will serve as the "stalking horse" bid or the lead
bid at a bankruptcy auction scheduled to held on September 24,
2010.  The auction will be followed by a hearing on September 30,
to consider approval of the sale of the MSS business to the
winning bidder.

Interested buyers are given until September 21 to submit their
bids for the MSS business.  Parties-in-interest have until
September 22 to file any objection to the proposed sale
transaction.

Judge Gross also authorized the payment of a $2.5 million break-
up fee to PSP and another $1.5 million to cover PSP's costs and
expenses as a stalking horse bidder in case another entity is
selected as the winning bidder.  He overruled objections asserted
against approval of the proposed bid process for the MSS business
sale.

Grapevine-Colleyville ISD and Richardson ISD earlier filed an
objection out of concern that the properties in which they hold
tax liens would be included in the sale block.  The Taxing
Authorities assert that they hold claims, aggregating $2,498,703,
against NNI and its affiliates on account of unpaid taxes.  The
claims are secured by tax liens on certain Nortel properties,
according to the Taxing Authorities.

                       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)


NORTEL NETWORKS: Files Disclosure Statement to Chapter 11 Plan
--------------------------------------------------------------
Nortel Networks Inc. and its affiliated debtors delivered to the
U.S. Bankruptcy Court for the District of Delaware on Sept. 3,
2010, a disclosure statement describing their joint Chapter 11
plan.

The Disclosure Statement provides a detailed description of the
Plan, which the Debtors filed on July 12, 2010, to help creditors
decide on whether to accept or reject the Plan.

The 126-page Disclosure Statement contains an overview of the
Plan, including a detailed description of the classification and
treatment of claims of creditors and the proposed implementation
of the Plan.

Events leading to the Debtors' bankruptcy filing, and the
administration of the Debtors' business during and after their
emergence from bankruptcy are also discussed in the Disclosure
Statement.

              Claims Classification and Treatment

Claims against the Debtors are divided into Classes 1 to 5 under
the Plan, according to the Disclosure Statement.

Class 1 consists of priority non-tax claims and is unimpaired.
It is deemed to have accepted the Plan and is not entitled to
vote.  Creditors in Class 1 are entitled to payment of their
claims in full and in cash.

Class 2 consists of secured claims and is also unimpaired.  It is
deemed to have accepted the Plan and is not entitled to vote.

Unless creditors in Class 2 agree to a different treatment, they
will receive, at the option of the Debtor, payment in full and in
cash of their allowed claims; payment of the sale or disposition
proceeds of the collateral securing their allowed claims;
delivery of the collateral to the creditors; or other treatment
that leaves unaltered the rights of those creditors.

Class 3 consists of general unsecured claims and is impaired.
Holders of these claims are entitled to vote on the Plan, and
will receive their pro rata share of "creditor proceeds.

Meanwhile, subordinated claims are classified under Class 4 and
are impaired.  Holders of these claims are deemed to reject the
Plan and are not entitled to vote.  They will not receive a cash
distribution unless the allowed claims of creditors in Classes 1
to 3 have been satisfied in full.

Class 5 is divided into Class 5A, which consists of interests in
a Debtor, while Class 5B consists of "interests securities fraud
claims."  Both subclasses are impaired, are deemed to reject the
Plan, are not entitled to vote, and will not receive any
distribution under the Plan.

The Debtors have yet to file an estimate for the recovery of
claims of creditors in each class.

Administrative expense claims, professional claims and priority
tax claims are not classified under the Plan.  Creditors, whose
claims are unclassified, are unimpaired and will be deemed to
accept the Plan.

The Plan recognizes the corporate integrity of each Debtor.
Thus, allowed claims against a particular Debtor will be
satisfied only from the assets of that Debtor.

The distributions to creditors and interest holders as well as
other aspects of the Plan apply separately to each Debtor.  A
creditor or interest holder of a particular Debtor has no direct
claim against or interest in another Debtor or its affiliate.

Under the Plan, a reserve account will be established for future
payment of disputed claims.  On or after the Plan effective date,
the Plan Administrator will hold cash in the reserve enough to
pay holders of disputed claims of their pro rata share of the
distributions they would have been entitled to receive if those
claims had been allowed.  Cash withheld and reserved for payments
to holders of disputed claims will be deposited by the Plan
Administrator in one or more segregated reserve accounts for each
Debtor, to be used for payment of any disputed claim.

               Appointment of Plan Administrator

John J. Ray III, principal officer of NNI, will be appointed as
Plan Administrator.  He will be authorized to carry out and
implement the Plan and a plan administration agreement without
the need for court approval.

An advisory committee jointly selected by the Official Committee
of Unsecured Creditors and the ad hoc group of bondholders will
also be formed on the Plan effective date.

The advisory committee will consist of one member selected by the
Creditors Committee and two members selected by the bondholders
group with consent of the Debtors.  It will be tasked to advise
and approve the actions of the Plan Administrator, among other
things.

                     Liquidation Analysis

If the Plan is not confirmed and the Debtors' Chapter 11 cases
are converted to Chapter 7 liquidation proceedings, the value of
their estate will diminish because of the fees and costs that
must be paid to a Chapter 7 trustee, according to the Disclosure
Statement.

Conversion of the Debtors' Chapter 11 cases to Chapter 7
liquidation proceedings will also delay the ultimate
distributions to creditors and interest holders.

The Debtors have yet to file with the Bankruptcy Court a copy of
their liquidation analysis and a cost analysis demonstrating the
feasibility of the Plan.

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

                       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)


NORTEL NETWORKS: Proposes Protocol for Settling Prepetition Claims
------------------------------------------------------------------
Nortel Networks Inc. and its affiliated debtors seek Bankruptcy
Court approval to implement a uniform process for the settlement
of pre-bankruptcy claims.

Ann Cordo, Esq., at Morris Nichols Arsht & Tunnell LLP, in
Wilmington, Delaware, says the Debtors would avoid incurring the
costs and the "administrative burden" of seeking Court approval
for each settlement if the Court approved the proposed settlement
process.

As of December 31, 2009, approximately 6,541 proofs of claim have
been filed against the Debtors' estates.

Under the proposed settlement process, the Debtors will not be
required to provide prior notice for the settlement of disputed
claims that were originally filed in an amount less than
$250,000; or claims originally filed in an amount equal to or
more than $250,000, and less than $500,000 and the claim
difference is less than $50,000.

The Debtors, however, will be required to notify the U.S. Trustee
and attorneys of the Official Committee of Unsecured Creditors in
writing of a proposed settlement if the claim was originally
filed in an amount equal to or more than $250,000 and less than
$500,000, and the claim difference is equal to or greater than
$50,000; or if the claim was originally filed in an amount equal
to or more than $500,000 and less than $1 million.

If no one files a written objection within 10 days after
receiving a Prepetition Claim Settlement Notice, the Debtors can
proceed with the settlement.  If an objection is filed and it
cannot be resolved, the claim may be settled upon further Court
order.

However, no disputed claim that was originally filed in an amount
equal to or greater than $1 million will be settled without
further Court approval.

Under the proposed settlement process, the Debtors will be
authorized to exchange mutual releases as part of any settlement
of a proof of claim.  Employees or representatives of the Debtors
who are responsible for negotiating or settling claims will be
allowed to do their task without further hearing and notice to
the Court or other concerned parties.

The Debtors want to clarify that their entry into prepetition
claims settlement, mediation or compromise negotiations does not
constitute a waiver of the automatic stay applicable to judicial,
administrative or other actions or proceedings against them.

The settlement process will not apply to any settlement of claim
where the creditor has filed multiple proofs of claim exceeding
$1 million in the aggregate; where an "insider" is involved; and
where the proof of claim was filed in a wholly unliquidated
amount.

The Court will convene a hearing on September 16, 2010, to
consider approval of the Debtors' request.  Parties-in-interest
have until September 9 to file any objection to the request.

                       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)


NORTH ALABAMA: Ala. Bank Rated E by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E rating to Hazel Green, Ala.-based
North Alabama Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $149,573,000 in assets.


NORTH COUNTY: Wash. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Arlington, Wash.-based
North County Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $326,290,000 in assets.


NORTH GEORGIA: Ga. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Watkinsville, Ga.-
based North Georgia Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$173,635,000 in assets.


NORTHERN STAR: Minn. Bank Rated E by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E rating to Mankato, Minn.-based
Northern Star Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $43,246,000 in assets.


NORTHPOINTE BANK: Mich. Bank Rated E- by Weiss Ratings
------------------------------------------------------
Weiss Ratings has assigned its E- rating to Grand Rapids, Mich.-
based Northpointe Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$266,669,000 in assets.


NORTHSIDE BANK: Ga. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Adairsville, Ga.-based
Northside Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $132,843,000 in assets.


NORTHWEST GEORGIA: Ga. Bank Rated E- by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E- rating to Ringgold, Ga.-based
Northwest Georgia Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$578,218,000 in assets.


NOVA BANK: Pa. Bank Rated E- by Weiss Ratings
---------------------------------------------
Weiss Ratings has assigned its E- rating to Berwyn, Pa.-based Nova
Bank.  The rating company says that the institution currently
demonstrates what it considers to be significant weaknesses and
has also failed some of the basic tests it uses to identify fiscal
stability.  "Even in a favorable economic environment," Weiss
says, "it is our opinion that depositors or creditors could incur
significant risks."  As of March 31, 2010, the institution's
balance sheet showed $597,698,000 in assets.


OCEAN VIEW: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: Ocean View Development, LLC
        714 Fishermans Wharf
        Fort Myers Beach, FL 33931

Bankruptcy Case No.: 10-20296

Chapter 11 Petition Date: August 24, 2010

Court: United States Bankruptcy Court
       Middle District of Florida (Ft. Myers)

Judge: David H. Adams

Debtor's Counsel: Patrick S. Javier, Esq.
                  BERKE & LUBELL, PA
                  1003 Del Prado Blvd., Suite 300
                  Cape Coral, FL 33990
                  Tel: (239) 549-6689
                  Fax: (239) 549-3331
                  E-mail: pjavier_berkeandlubell@yahoo.com

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

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

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

The petition was signed by Kenneth V. Poole, Jr., managing member.


OLDE PRAIRIE: Must File Plan to Oppose Centerpoint's Stay Relief
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
directed Olde Prairie Block Owner, LLC, to file its complete Plan
of Reorganization on the same date as its brief opposing its
principal secured lender CenterPoint Properties Trust's motion to
modify stay.

In relation to the CenterPoint's motion, the Court said that the
Debtor must show a viable Plan that is confirmable and based upon
actual economics.  The Debtor submitted an outline of a possible
Chapter 11 Plan.

Chicago, Illinois-based Olde Prairie Block Owner, LLC, owns two
adjacent parcels of land just north of McCormick Place.  The
Company filed for Chapter 11 protection on May 18, 2010 (Bankr.
N.D. Ill. Case No. 10-22668).  John E. Gierum, Esq., at Gierum &
Mantas, assists the Debtor in its restructuring effort.  The
Company estimated assets at $100 million to $500 million in assets
and $10 million to $50 million in liabilities.


OTC HOLDINGS: DIP Financing, Cash Collateral Use Gets Interim OK
----------------------------------------------------------------
OTC Holdings Corporation, et al., sought and obtained interim
authorization from the Hon. Brendan Linehan Shannon of the U.S.
Bankruptcy Court for the District of Delaware to obtain
postpetition secured financing from a syndicate of lenders under
the first lien credit agreement led by JPMorgan Chase Bank, N.A.,
as administrative agent, and use cash collateral.

A copy of the DIP financing agreement is available for free at:

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

As of the Petition Date, the Debtors owed the first lien lenders
an aggregate principal amount of at least $403,000,000.  As of the
Petition Date, the Debtors owed the second lien lenders an
aggregate principal amount of at least $180,000,000.

The DIP lenders have committed to provide up to $40,000,000 of
postpetition financing consisting of up to $33,500,000 of term
loans and up to $6,500,000 of revolving loans and letters of
credit.

According to the interim order, extensions of credit under the
revolving facility $2.5 million, and loans under the term facility
won't exceed $20 million.

Kenneth J. Enos, Esq., at Young Conaway Stargatt & Taylor, LLP,
explained that the Debtors need the money to fund their Chapter 11
case, pay suppliers and other parties.

The Debtors want to use the proceeds of the initial borrowing
under the DIP Agreement to pay in full the $2.5 million aggregate
principal amount of first priority term loans, plus any accrued
and unpaid interest thereon, made on August 23, 2010, by certain
of the first lien lenders.

The DIP facility will mature in February 2011.

The Debtors may elect that the DIP Loans comprising each borrowing
bear interest at a rate per annum equal to the ABR plus the
applicable margin or the Eurodollar rate plus the applicable
margin.  ABR is the highest of (i) rate of interest publicly
announced by JPMorgan as its prime rate in effect at its principal
office in New York City, (ii) the federal funds effective rate
from time to time plus 0.5%, (iii) the Eurodollar Rate for one-
month interest period, plus 1%, and (iv) 3.0%.  Applicable Margin
means (i) 4.75% in the case of ABR loans and (ii) 5.75% in the
case of Eurodollar Loans.  Eurodollar Rate means the greater of
(i) rate for Eurodollar deposits for a period equal to one, two or
three months appearing on Reuters Screen LIBOR01 Page and (ii)
2.0%.

The Debtors will pay various commitment, underwriting, arranger
and administrative agency fees to the DIP Agent, the arranger and
the DIP Lenders, in the aggregate amount of approximately 4% of
the aggregate amount of the commitments available under the DIP
facilities.  The Debtors will pay: (i) a fee calculated at a rate
per annum equal to 0.75% on the average daily unused portion of
the DIP facilities, payable monthly in arrears; (ii) a fee on all
outstanding letters of credit at a per annum rate equal to the
Applicable Margin then in effect with respect to Eurodollar loans
on the face amount of each letter of credit.  The fee will be
shared ratably among the DIP Lenders participating in the
revolving facility and will be payable in monthly in arrears; and
(iii) a fronting fee equal to 0.125% per annum on the face amount
of each letter of credit will be payable monthly in arrears to the
issuing lender for its own account.  Customary administrative,
issuance, amendment, payment and negotiation charges will be
payable to the issuing lender for its own account.

At any time after the occurrence and during the continuance of an
event of default, all outstanding DIP Loans will bear interest at
2% above the rate otherwise applicable thereto and all other
obligations will bear interest at 2% above the rate applicable to
the relevant ABR loans.

The DIP obligations will constitute allowed senior administrative
expense claims against the Debtors with priority over any and all
administrative expenses, adequate protection and all other claims
against the Debtors.  As security for the Debtors' obligations,
these security interests and liens will be granted by the Debtors
to the DIP Agent, for itself and the benefit of the DIP Lenders:
(i) first lien on unencumbered property; (ii) liens junior to
certain existing liens; and (iii) liens priming first lien
lenders' and second lien lenders' liens.

As adequate protection for the use of cash collateral, the first
lien agent and the first lien lenders will be granted: (i) first
lien adequate protection liens; (ii) first lien Section 507(b)
claims; (iii) interest, fees, and expenses; and (iv) credit
bidding.  The second lien agent and the second lien lenders will
also be granted: (i) second lien adequate protection liens; (ii)
second lien 507(b) claims.

The DIP Agent will receive (i) a monthly budget for the six months
after the Petition Date and (ii) an initial 13-week cash flow
forecast for the period beginning with the week which includes the
Petition Date through the 13-week thereafter.

The Court has set a final hearing for September 20, 2010, at
11:00 a.m.

Wilmington Trust FSB, as second lien agent, has objected to the
Debtors' request to obtain DIP financing and use cash collateral,
saying that the Debtors must enter into the DIP facilities on the
condition that the Debtors are free to pursue any type of value-
maximizing restructuring consistent with the U.S. Bankruptcy
Court.

Wilmington is represented by Morris, Nichols, Arsht & Tunnell LLP
and Kramer Levin Naftalis & Frankel LLP

                       About OTC Holdings

Omaha, Nebraska-based OTC Holdings Corporation filed for Chapter
11 protection on August 25, 2010 (Bankr. D. Del. Case No. 10-
12636).  Affiliates OTC Investors Corporation (Bankr. D. Del. Case
No. 10-12637), Oriental Trading Company, Inc. (Bankr. D. Del. Case
No. 10-12638), Fun Express, Inc. (Bankr. D. Del. Case No. 10-
12639), and Oriental Trading Marketing, Inc. (Bankr. D. Del. Case
No. 10-12640), filed separate Chapter 11 petitions on August 25,
2010.  The Debtors disclosed $463 million in total assets and
$757 million in total liabilities as of the Petition Date.

Richard Hahn, Esq., My Chi To, Esq., Jae-Sun Chung, Esq., Huyue
Angela Zhang, Esq., and Jessica Katz, Esq., at Debevoise &
Plimpton LLP, assist the Debtors in their restructuring efforts.
Joel A. Waite, Esq., and Kenneth J. Enos, Esq., at Young, Conaway,
Stargatt & Taylor, serve as the Debtors' local counsel.  Jefferies
& Company, Inc., is the Debtors' financial advisor.  Protiviti,
Inc., is the Debtors' restructuring consultant.  Kurtzman Carson
Consultants LLC is the Debtors' claims agent.


OWENS-ILLINOIS INC: S&P Affirms 'BB+' Corporate Credit Rating
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'BB+'
corporate credit rating on Owens-Illinois Inc. and its
subsidiaries.  In addition, S&P affirmed its 'BBB' senior secured
debt and '1' recovery ratings, its 'BB+' senior unsecured debt and
'3' recovery ratings on debt issued by OI European Group, and
S&P's 'BB-' senior unsecured debt and '6' recovery ratings on debt
issued by Owens-Illinois Inc.  The '1' recovery ratings indicate
S&P's expectation for very high (90% to 100%) recovery, the '3'
recovery ratings indicate its expectation for meaningful (50% to
70%) recovery, and the '6' recovery ratings indicate S&P's
expectation for negligible (0% to 10%) recovery, in the event of a
payment default.

Also, based on its updated recovery analysis, S&P lowered the
ratings on senior unsecured debt issued by Owens-Brockway Glass
Container Inc. to 'BB' from 'BB+' and revised the recovery rating
to '5' from '4'.  The revised ratings indicate S&P's expectation
for modest (10% to 30%) recovery in the event of a payment
default.

At the same time, S&P assigned a 'BB+' senior unsecured debt
rating and a recovery rating of '3' to OI European Group's
proposed offering of ?500 million of senior notes due 2020.
Owens-Illinois plans to use the proceeds to repay borrowings under
its revolving credit facility and for general corporate purposes.

The ratings on Perrysburg, Ohio-based Owens-Illinois Inc. reflect
its satisfactory business risk profile and significant financial
risk profile.

"Key factors supporting the ratings include solid long-term
business prospects, relatively stable earnings and cash flows,
management's focus on ongoing productivity improvements and cost
reduction, and prudent financial policies," said Standard & Poor's
credit analyst Cynthia Werneth.  "S&P believes that FFO to debt
will continue to exceed 20% despite the potential for moderate-
size acquisitions."

Owens-Illinois is the world's largest manufacturer of glass
containers, with leading positions in North America, South
America, Europe, Australia, and New Zealand.

On Sept. 1, 2010, Owens-Illinois acquired Companhia Industrial de
Vidros, the leading glass container producer in northeastern
Brazil.  The purchase price was $603 million in cash, and Owens-
Illinois expects to receive future tax benefits with a present
value of $140 million.  The net purchase price of $464 million
represents a 5.8 multiple of EBITDA for the first year of
operation, including estimated net cost savings.  The CIV
operations are highly profitable, with an estimated EBITDA margin
at about 40% of sales.  The acquisition adds three plants and
expands Owens-Illinois' capacity in Brazil by about 50%.  Pro
forma for the acquisition and planned debt issue, credit measures
weaken slightly, resulting in funds from operations to adjusted
debt of 22% and adjusted debt to EBITDA of 4.2x.

Pro forma debt totals about $5.8 billion, which S&P adjust to
include $904 million representing S&P's estimate of after-tax
asbestos-related liabilities during the next 10 years,
$524 million of tax-effected underfunded postretirement
liabilities, and $172 million of capitalized operating leases.


PARKER PROPERTIES: Case Summary & 5 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Parker Properties, LLC
          dba P.P. LLC Oakridge Square
        31194 Flying Cloud Drive
        Laguna Niguel, CA 92677

Bankruptcy Case No.: 10-53195

Chapter 11 Petition Date: August 24, 2010

Court: U.S. Bankruptcy Court
       Western District of Texas (San Antonio)

Judge: Ronald B. King

Debtor's Counsel: Dean William Greer, Esq.
                  2929 Mossrock, Suite 117
                  San Antonio, TX 78230
                  Tel: (210) 342-7100
                  Fax: (210) 342-3633
                  E-mail: dwgreer@sbcglobal.net

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/txwb10-53195.pdf

The petition was signed by Matthew Levenson, manager.


PCS HOMES: Housing Market Woe Prompts Chapter 11 Bankruptcy Filing
------------------------------------------------------------------
Chris Huntemann, staff writer at Gazette.Net, reports that PCS
Homes along with seven of its affiliates filed for bankruptcy
under Chapter 11 in the U.S. Bankruptcy Court for the District of
Maryland

According to the report, the Company blamed the filing on the
declining housing market.

The Company said six affiliates listed both assets and debts of
between $1 million and $10 million, while First Development
reported both assets and debts of between $10 million and $50
million, Mr. Huntemann relates.  The six debtor-affiliates are MD
Homes, Tidewater Land, Acorn Land and First Development Group, all
of Millersville; FPD of Prince Frederick; and NC Homes and
Breezewood Homes, both of Raleigh, N.C.

The Company said it owes $414,479 to Rocker's, a building
contractor in Sparrows Point.

Irving E. Walker, Esq., at Cole Schotz, Meisel, Forman & Leonard,
serves as counsel to the Company.

PCS Homes operates a housing development company.


PEANUT CORP: Salmonella Settlements Approved
--------------------------------------------
Judge Norman Moon of the U.S. District Court for the Western
District of Virginia has agreed to let Peanut Corp. of America
settle tort claims with more than two dozen victims of a 2008
salmonella outbreak at the company's facilities, Bankruptcy Law360
reports.

Following a nationwide outbreak of Salmonella poisoning that
reports say sickened more than 700 people and killed nine, Peanut
Corporation of America -- http://www.peanutcorp.com/-- filed a
Chapter 7 bankruptcy petition in February 2009 (Bankr. W.D. Va.
Case No. 09-60452).  The Company estimated its assets and
liabilities in the range of $1 million to $10 million at the time
of the filing.


PETER INDORF: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Peter Indorf, Inc.
          dba Peter Indorf Jewelers
        703 Boston Post Road
        Madison, CT 06443

Bankruptcy Case No.: 10-32527

Chapter 11 Petition Date: August 25, 2010

Court: United States Bankruptcy Court
       District of Connecticut (New Haven)

Judge: Lorraine Murphy Weil

Debtor's Counsel: Peter L. Ressler, Esq.
                  GROOB RESSLER & MULQUEEN
                  123 York Street, Ste 1B
                  New Haven, CT 06511-0001
                  Tel: (203) 777-5741
                  Fax: (203) 777-4206
                  E-mail: ressmul@yahoo.com

Scheduled Assets: $271,500

Scheduled Debts: $1,102,028

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ctb10-32527.pdf

The petition was signed by Peter Indorf, president.


PIERRE FOODS: S&P Affirms Corporate Credit Rating at 'B'
--------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'B'
corporate credit rating on Cincinnati-based Pierre Foods Inc. and
revised its outlook to stable from negative.

At the same time, S&P assigned a 'B+' issue-level rating (one
notch higher than the corporate credit rating) on Pierre Food's
proposed $835 million first-lien senior secured term loan.  The
recovery rating is '2', indicating S&P's expectation for
substantial (70% to 90%) recovery in the event of a payment
default.  Issue-level ratings are based upon preliminary
documentation and are subject to review upon final documentation.
S&P will withdraw its 'BB-' issue-level rating on the company's
existing $275 million term loan upon completion of the
transaction, and repayment of this existing loan.

At the same time, S&P lowered all ratings on Enid, Okla.-based
Advance Food by one notch, including the corporate credit rating,
to 'B' (the same as Pierre Foods) from 'B+', reflecting the
company's proposed merger with Pierre Foods.  S&P removed the
ratings from CreditWatch with negative implications, where they
were placed on July 30, 2010, following Advance Food's
announcement that it had agreed to merge with Pierre Foods in a
leveraged transaction.  Upon completion of the transaction as
proposed, and after Advance Food repays its debt in full, S&P
would withdraw all ratings on Advance Food.

"The ratings on Pierre Foods reflect its highly leveraged capital
structure and integration risk following the proposed merger, and
participation in the highly competitive, although somewhat
recession resistant, packaged foods industry," said Standard &
Poor's credit analyst Rick Joy.  Additional rating factors include
the increased scale of the business, and S&P's belief that
opportunities for operating synergies and continued manufacturing
efficiencies will exist after the merger.  Pierre Foods' recent
performance has benefitted from cost reductions made following its
emergence from bankruptcy in 2009.  Pierre Foods has also reduced
over half of its stock-keeping-units, reflecting efforts to
maximize unit level profitability, and has improved margins as a
result of a combination of price increases and lower raw material
costs.  In recent years, management of both Pierre Foods and
Advance Food has focused on improved operating efficiencies and
S&P expects the combined entity will further benefit from cost
savings synergies.  The company estimates synergies from the
combination to be in the range of $25 million to $30 million.

Following the proposed transaction, S&P believes that the combined
business will result in an enhanced business risk profile.  S&P
believes that Pierre Foods will have organic growth opportunities
through cross-selling products and further diversification in its
sales channels and products.  S&P also believe the combination of
Advance Food's leading positions in certain beef-based products
and long-term relationships with its key distributors, as well as
Pierre Foods' long-tenured relationships with national accounts
and fairly diversified channels will result in a stronger
competitive position for the newly merged company.  Pierre Foods
is a manufacturer of differentiated value-added protein and
handheld convenience food items sold primarily to schools,
national accounts, and foodservice distributors.  Advance Food
develops, manufactures, and markets processed food items,
including meat products and ready-to-serve non-meat products.

Upon completion of the proposed merger, Oaktree Capital Management
L.P. will own about 76% of the combined company and S&P estimates
the combined entity will have about $1.1 billion in debt.  Advance
Brands LLC, a 2001 joint venture between Advance Food and Cargill
Meat Solutions, will also be included in the merger, and the
combined entity of Pierre Foods and Advance Food will purchase
Cargill's interest as part of the acquisition.  Leverage will be
high following the merger.  For the most recent trailing 12-month
period, S&P estimates that adjusted debt to EBITDA is about 6.0x.
It is S&P's opinion that the company's operating performance will
continue to improve and S&P estimates pro forma credit measures
will be within its expectations, namely leverage of 5.5x to 6.0x
and EBITDA interest coverage in the 2.5x area.

The stable outlook on Pierre Foods reflects S&P's expectation for
stable?if not improving?operating performance and adequate
liquidity over the next year, and credit measures close to current
levels, including debt to EBITDA between 5.5x to 6x.  Following
the proposed merger S&P believes the newly combined entity will
gain scale, a larger EBITDA base, and leverage its cross-selling
opportunities.  S&P would consider raising the ratings if the
company reduces adjusted debt to EBITDA closer to 5.0x or below.
S&P believes this could occur if the company achieves the majority
of its post-acquisitions synergies, resulting in pro forma EBITDA
margin expansion of about 300 basis points in 2011 and beyond,
while applying excess cash flow to debt reduction.  Alternatively,
S&P would consider lowering the rating if the company does not
achieve any operating synergies, financial policy becomes more
aggressive, debt leverage increases well above 6.0x, and/or
cushion on the company's bank loan covenants becomes constrained.


PITCAIRN PROPERTIES: Court Dismisses Chapter 11 Bankruptcy Case
---------------------------------------------------------------
Harold Brubaker, staff writer at the Philadelphia Inquirer,
reports that the Hon. Christopher S. Sontchi of the U.S.
Bankruptcy Court in Delaware dismissed the Chapter 11 bankruptcy
case of Pitcairn Properties Holdings Inc. and denied a request
that would give the company more time to maneuver in a fight for
control against investors owing $58 million.  The Company said it
will appeal Judge Sontchi's ruling.

The judge, according to the report, found that Chapter 11 was not
a proper vehicle for the restructuring of the terms under which
Pitcairn Properties would redeem the $50 million in preferred
stock.

Pitcairn filed for Chapter 11 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.

                     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.


QUIGLEY CO.: Court Rejects 4th Reorganization Plan
---------------------------------------------------
Tiffany Kary at Bloomberg News reports that U.S. Bankruptcy Judge
Stuart M. Bernstein in New York on September 8 rejected Quigley's
fourth reorganization plan and said parties should discuss
dismissal of the case.  He said the plan was filed in "bad faith"
by Pfizer and cited testimony that asbestos claims directed at
Quigley could total $4.45 billion over the next 42 years.

"In a nutshell, Pfizer bought enough votes to assure that any plan
would be accepted," Judge Bernstein wrote.

According to the report, in a 90-page ruling that covers Pfizer's
failed attempts to deal with its growing asbestos liabilities
since June 1985, Judge Bernstein noted that a lawyer who
represented both Quigley and Pfizer settled claims against Quigley
and got releases for Pfizer at no additional cost.

"We are disappointed in the court's ruling as we continue to
believe that Pfizer has no liability for Quigley's conduct," a
Pfizer spokesman, Chris Loder, said in a telephone interview with
Bloomberg.

                        The Chapter 11 Plan

Under the proposed Chapter 11 plan, Pfizer is paying about
$450 million into a trust to satisfy claims about products for
which it allegedly has derivative liability.  According to
Bloomberg's Tiffany Kary, the "channeling injunction" of the
Bankruptcy Code would direct all future claims into the trust,
covering death or personal injury claims related to Insulag,
Panelag and Damit, products for the steel industry that contained
asbestos and were made from the time of World War II to the 1970s.

                        About Quigley Co.

Quigley Co. was acquired by Pfizer in 1968 and sold small amounts
of products containing asbestos until the early 1970s. In
September 2004, Pfizer and Quigley took steps that were intended
to resolve all pending and future claims against the Company and
Quigley in which the claimants allege personal injury from
exposure to Quigley products containing asbestos, silica or mixed
dust. Quigley filed for bankruptcy in 2004 and has a Chapter 11
plan and a settlement with Chrysler.

Quigley filed for Chapter 11 bankruptcy protection on Sept. 3,
2004 (Bankr. S.D.N.Y. Case No. 04-15739) to implement a proposed
global resolution of all pending and future asbestos-related
personal injury liabilities.

Lawrence V. Gelber, Esq., and Michael L. Cook, Esq., at Schulte
Roth & Zabel LLP, represent the Debtor in its restructuring
efforts.  Elihu Inselbuchm Esq., at Caplin & Drysdale, Chartered,
represents the Official Committee of Unsecured Creditors.  When
the Debtor filed for protection from its creditors, it listed
$155,187,000 in total assets and $141,933,000 in total debts.


RANCHO MALIBU: Taps Weintraub & Selth as Bankruptcy Counsel
-----------------------------------------------------------
Rancho Malibu, LLC, asks the U.S. Bankruptcy Court for the Central
District of California for permission to employ Weintraub & Selth,
APC as general bankruptcy counsel.

WS will, among other things:

   -- represent the Debtor at all hearings before the Bankruptcy
      Court involving the Debtor-in-possession and as reorganized
      Debtor, as applicable;

   -- prepare on the Debtor's behalf all necessary schedules and
      amendments thereto, applications, motions, orders and other
      legal papers; and

   -- advise the Debtor regarding matters of the bankruptcy law,
      including its rights and remedies with respect to assets of
      the estate and creditor claims.

WS received a $50,000 retainer.  The retainer was funded by a
contribution of members REB Malibu, LLC, and Houshmand Sohaili on
behalf of Manhattan Partners, LLC.  WS applied $12,726 fees and
expenses leaving a balance of $37,274.

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

The firm can be reached at:

     Daniel J. Weintraub, Esq.
     James R. Selth, Esq.
     Marc A. Collins, Esq.
     WEINTRAUB & SELTH, APC
     12121 Wilshire Boulevard, Suite 1300
     Los Angeles, CA 90025
     Tel: (310) 207-1494
     Fax: (310) 442-0660

                       About Rancho Malibu

Malibu, California-based Rancho Malibu, LLC, filed for Chapter 11
protection on July 6, 2010 (Bankr. C.D. Calif. Case No. 10-18138).
The Debtor estimates assets and debts at $10 million to
$50 million.


RICKY VAN VLEET: Contempt Sanctions Were Civil, Not Criminal
------------------------------------------------------------
WestLaw reports that a bankruptcy court's contempt sanction
against a Chapter 11 debtor's business associate was civil, not
criminal, in nature.  Relying on its equitable powers set forth in
11 U.S.C. Sec. 105, the section of the Bankruptcy Code authorizing
the court to issue any order necessary or appropriate to carry out
the provisions of title 11, the bankruptcy court held the
associate in contempt for violating court orders.  The contempt
was denominated as "civil" in both the court's contempt order and
its remand order.  Finally, while the court's $1,000 per day
sanction was punitive, the court gave the associate a "key to this
prison" by only imposing the sanction until he agreed to submit to
a discovery examination.  In re Van Vleet, --- B.R. ----, 2010 WL
3174769 (D. Colo.) (Daniel, C.J.).

The Bankruptcy Court entered its contempt order and imposed
sanctions against Douglas Bailey, the Debtor's business associate,
who appealed from eleven orders issued by the bankruptcy court in
Mr. Van Vleet's Chapter 11 case.  The Bankruptcy Court found that
Mr. Bailey "directly, indirectly and surreptitiously engaged in
conduct that violated the clear authority of the Trustee
established in the Bankruptcy Code and [Bankruptcy Court Orders]."

Ricky Donovan Van Vleet dba First Financial Centre, Inc., sought
Chapter 11 protection (Bankr. D. Colo. Case No. 06-17238) on
Oct. 11, 2006, represented by Ken McCartney, Esq., in Cheyenne,
Wyo., and disclosing $1,043,775 in assets and $743,717 in
liabilities.  On Jan. 24, 2007, Tom Connolly was appointed as the
Chapter 11 Trustee in Mr. Van Vleet's case.  Mr. Connolly is
represented by Douglas W. Jessop, Esq., at Jessop & Company, PC,
in Boulder, Colo.


ROBERT GORDON: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Robert Rae Gordon
          aka Robert R. Gordon
        8400 Farrell Drive
        Chevy Chase, MD 20815

Bankruptcy Case No.: 10-29445

Chapter 11 Petition Date: August 24, 2010

Court: U.S. Bankruptcy Court
       District of Maryland (Greenbelt)

Judge: Wendelin I. Lipp

Debtor's Counsel: Steven H. Greenfeld, Esq.
                  COHEN, BALDINGER & GREENFELD, LLC
                  7910 Woodmont Avenue, Suite 1103
                  Bethesda, MD 20814
                  Tel: (301) 881-8300
                  Fax: (301) 881-8350
                  E-mail: steveng@cohenbaldinger.com

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

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/mdb10-29445.pdf


ROGER D'ANNA: Involuntary Chapter 11 Case Summary
-------------------------------------------------
Alleged Debtor: Roger E. D'Anna
                750 San Pedro Avenue
                Morgan Hill, CA 95037

Bankruptcy Case No.: 10-58775

Involuntary Chapter 11 Petition Date: August 24, 2010

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

Judge: Arthur S. Weissbrodt

Debtor's Counsel: Pro Se

Petitioners' Counsel: Stephen A. Fraser, Esq.
                      LAW OFFICES OF STEPHEN A. FRASER
                      53 Central Avenue
                      Sausalito, CA 94965
                      Tel: (415) 332-2421

Debtor-affiliates filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Paula Marie Bruce                     10-13220            08/22/10

Creditors who signed the Chapter 11 petition:

    Petitioners                    Nature of Claim    Claim Amount
    -----------                    ---------------    ------------
Paula Marie Bruce                  Share of Mortgage       $17,621
53 Central Avenue
Sausalito, CA 94965

Stephen A. Fraser                  --                           --
53 Central Avenue
Sausalito, CA 94965


SALON MEDIA: Posts $817,000 Net Loss in June 30 Quarter
-------------------------------------------------------
Salon Media Group, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $817,000 on $1.2 million of revenue for
the three months ended June 30, 2010, compared with a net loss of
$1.3 million on $989,000 of revenue for the three months ended
June 30, 2009.

The Company's operating forecast for the remainder of the fiscal
year ending March 31, 2011, anticipates continued but reduced
operating losses.  Salon estimates it will require between
$500,000 and $1 million in additional funding to meet its
operating needs for the balance of its fiscal year.  Salon does
not currently have an agreement in place to provide any financing.

The Company's balance sheet at June 30, 2010, showed $2.0 million
in total assets, $9.5 million in total liabilities, and a
stockholders' deficit of $7.5 million.

As reported in the Troubled Company Reporter on June 29, 2010,
Burr Pilger Mayer, Inc., in San Francisco, Calif., expressed
substantial doubt about the Company's ability to continue as a
going concern, following its results for the fiscal year ended
March 31, 2010.  The independent auditors noted that the Company
has suffered recurring losses and negative cash flows from
operations and has an accumulated deficit of $105.8 million at
March 31, 2010.

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

               http://researcharchives.com/t/s?6ae8

San Francisco, Calif.-based Salon Media Group (OTC BB: SLNM.OB)
-- http://www.Salon.com/-- is an online news and social
networking company and an Internet publishing pioneer.


SAM HUSARY: Case Summary & 15 Largest Unsecured Creditors
---------------------------------------------------------
Joint Debtors: Sam Elia Husary
                dba Chubbys Diner
               Laila Teal
               507 Morgan Woods Court
               Windsor, CA 95492

Bankruptcy Case No.: 10-13231

Chapter 11 Petition Date: August 24, 2010

Court: United States Bankruptcy Court
       Northern District of California (Santa Rosa)

Judge: Alan Jaroslovsky

Debtor's Counsel: Michael C. Fallon, Esq.
                  LAW OFFICES OF MICHAEL C. FALLON
                  100 E St. #219
                  Santa Rosa, CA 95404
                  Tel: (707) 546-6770
                  E-mail: mcfallon@fallonlaw.net

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

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

A list of the Joint Debtors' 15 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/canb10-13231.pdf


SOLAR ENERTECH: Posts $658,000 Net Loss in June 30 Quarter
----------------------------------------------------------
Solar Enertech Corp. filed its quarterly report on Form 10-Q,
reporting a net loss of $658,000 on $16.4 million of revenue for
the three months ended June 30, 2010, compared with a net loss of
$6.8 million on $10.1 million of revenue for the three months
ended June 30, 2009.

The Company has an accumulated deficit of approximately
$92.1 million at June 30, 2010.

As of June 30, 2010, the Company had cash and cash equivalents of
$2.7 million as compared to $1.7 million at September 30, 2009.
The Company says it will require a significant amount of cash to
fund its operations.

The Company's balance sheet at June 30, 2010, showed $32.4 million
in total assets, $24.8 million in total liabilities, and
stockholders' equity of $7.5 million.

As reported in the Troubled Company Reporter on January 15, 2010,
Ernst & Young Hua Ming, in Shanghai, expressed substantial doubt
about the Company's ability to continue as a going concern,
following its results for the fiscal year ended September 30,
2009.  The independent auditors noted of the Company's recurring
losses from operations.

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

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

                       About Solar EnerTech

Mountain View, Calif.-based Solar EnerTech Corp. (OTC BB: SOEN)
-- http://www.solarE-power.com/- is a photovoltaic solar energy
cell manufacturing enterprise.  The Company has established a
sophisticated 67,107-square-foot manufacturing facility at Jinqiao
Modern Technology Park in Shanghai, China.  The Company currently
has two 25MW solar cell production lines and a 50MW solar module
production facility.

Solar EnerTech has also established a Joint R&D Lab at Shanghai
University to develop higher efficiency cells and to put the
results of that research to use in its manufacturing processes.


STANOCOLA MEDICAL: Foreclosure Action Prompts Ch. 11 Filing
-----------------------------------------------------------
Ted Griggs at 2theadvocate reports that Stanocola Employees
Medical and Hospital Association, Incorporated, owner of the
Stanocola Medical Center, filed for Chapter 11 to stave off a
foreclosure action by Ochsner Medical Center  Ochsner Medical
filed a lawsuit in 19th Judicial District Court to have Stanocola
Medical evicted from its facility.

Due to the present economic climate and uncertainties facing the
medical profession, including the recent Medicare and Medicaid
cuts, health insurance reimbursement reductions, and the
introduction of Health Care Reform, Stanocola, unfortunately, has
had to seek to reorganize its affairs, Mr. Griggs qoutes Zelma H.
Teer, chairman of the Stanocola board, as stating.

The Company filed for Chapter 11 protection on Sept. 3, 2010
(Bankr. M.D. La. Case No. 10-11379).  Brandon A. Brown, Esq., at
Stewart Robbins & Brown, LLC, serves as counsel to the Debtor.

In its petition, the Debtor estimated assets of up to $0 to
$50,000 and debts of $1,000,001 to $10,000,000.  The Company owes
$1.9 million to its 20 largest creditors, including $1 million
owed to Ochsner Medical Center.

The petition was signed by Zelma Teer, chairman of the board.


STATES INDUSTRIES: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: States Industries, Inc.
        P.O. Box 7037
        Eugene, OR 97402-9656

Bankruptcy Case No.: 10-65148

Chapter 11 Petition Date: August 24, 2010

Court: U.S. Bankruptcy Court
       District of Oregon

Judge: Frank R. Alley, III

Debtor's Counsel: Brad T. Summers, Esq.
                  Justin D. Leonard, Esq.
                  101 SW Main Street, #1100
                  Portland, OR 97204
                  Tel: (503) 228-2525
                  Fax: (503) 226-1058
                  E-mail: tsummers@balljanik.com
                          jleonard@bjllp.com

Scheduled Assets: $20,615,286

Scheduled Debts: $28,458,541

The petition was signed by John L. Davidson, chief restructuring
officer.

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Northern Michigan Veneers Inc      Trade Debt/AP        $2,819,076
P.O. Box 352
Gladstone, MI 49837

Manthei Inc                        Trade Debt/AP        $1,908,934
SLOT 303114
P.O. Box 66973
Chicago, IL 60666-0973

Commonwealth Plywood Ltd           Trade Debt/AP          $690,553
c/o 15, Boul. Labelle,
P.O. Box 90
Ste Therese, Quebec
Canada J7E 4H9

Coyote Logistics LLC               Trade Debt/AP          $488,113
P.O. Box 535244
Atlanta, GA 30353-5244

Gross Veneer Sales                 Trade Debt/AP          $396,920
Box 5212 Emerywood Station
High Point, NC 27262

Hercules Inc                       Trade Debt/AP          $359,125
P.O. Box 116232
ATLANTA, GA 30368-6232

RPL International Inc              Trade Debt/AP          $337,148
P.O. Box 530882
Henderson, NV 89012-9998

Goodman Veneer & Lumber Co         Trade Debt/AP          $269,815
Div of Besse Forest Products
200 C. Avenue, P.O. Box 130
Goodman, WI 54125

Summit Properties Partnership      Trade Debt/AP          $204,558

Celtic Equipment Leasing           Trade Debt/AP          $194,974

T.G.R. Logistics Inc               Trade Debt/AP          $166,882

Commodities Plus Inc               Trade Debt/AP          $154,464

Penrod Company, The                Trade Debt/AP          $146,229

Humboldt Flakeboard Panels Inc     Trade Debt/AP          $142,789

Evergreen Hardwoods Inc            Trade Debt/AP          $131,279

Blachly Lane                       Trade Debt/AP -        $125,788
                                   Electricity

Dietrich Veneer Sales              Trade Debt/AP          $117,477

Flakeboard                         Trade Debt/AP          $107,134

Dongwha Patinna NZ Ltd             Trade Debt/AP          $101,640

Rosboro Lumber Company             Trade Debt/AP           $91,955


TELIPHONE CORP: Reports $96,400 Net Income in June 30 Quarter
-------------------------------------------------------------
Teliphone Corp. filed its quarterly report on Form 10-Q, reporting
net income applicable to common shares of $96,367 on $1.13 million
of revenue for the three months ended June 30, 2010, compared with
net income applicable to common shares of $105,594 on $977,342 of
revenue for the three months ended June 30, 2009.

The Company has a working capital deficiency of $420,491 as of
June 30, 2010, and has an accumulated deficit of $1.81 million
through June 30, 2010.

The Company's balance sheet as of June 30, 2010, showed
$1.36 million in total assets, $1.31 million in total liabilities,
and stockholders' equity of $53,701.

As reported in the Troubled Company Reporter on January 4, 2010,
KBL, LLP, in New York, expressed substantial doubt about Teliphone
Corp.'s ability to continue as a going concern, following its
results for the fiscal year ended September 30, 2009.  The
independent auditors noted that the Company has sustained
operating losses and significant working capital deficits in the
past few years.

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

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

Based in Miami Beach, Fla., Teliphone Corp. (OTC BB: TLPH)
-- http://www.teliphone.ca/-- provides broadband telephone
services utilizing its voice over Internet protocol (VoIP)
technology platform in Canada.  The Company was founded in 2004
and is based in Montreal, Canada.


THOMAS GROUP: Regains NASDAQ Compliance for Continued Listing
-------------------------------------------------------------
Thomas Group, Inc. disclosed that the NASDAQ Stock Market notified
the Company that it has regained compliance with NASDAQ's minimum
$1.00 per share bid price requirement, and further, that the
Company currently meets the other applicable standards for
continued listing.  Accordingly, the Company's common stock will
continue to be listed on The NASDAQ Capital Market.

As previously announced, following a hearing before a NASDAQ
Listing Qualifications Panel, the Panel determined to continue the
Company's listing subject to the condition that, on or before
September 13, 2010, the Company must have evidenced a closing bid
price for its common stock of $1.00 per share or more for at least
the ten prior consecutive trading days, among other things.  For
ten consecutive trading days, from August 23, 2010 to September 3,
2010, the closing bid price of the Company's common stock exceeded
the $1.00 per share threshold, and on September 3, 2010, the
closing bid price was $1.70 per share. Accordingly, the Company
satisfied the Panel's condition, and the delisting proceeding is
now closed.

The Company's shares will continue to trade on NASDAQ under the
symbol "TGISD" until the close of trading on Tuesday,
September 13, 2010, at which point the fifth character "D" will
drop off and the trading symbol will revert to "TGIS."  In
accordance with NASDAQ requirements, the fifth character "D" was
added to the Company's trading symbol on August 16, 2010, to
reflect the one-for-five share reverse stock split of the
Company's common stock.

                     About Thomas Group

Thomas Group, Inc. -- http://www.thomasgroup.com/ -- is an
international, publicly-traded professional services firm
specializing in operational improvements.  Thomas Group's unique
brand of process improvement and performance management services
enable businesses to enhance operations, improve productivity and
quality, reduce costs, generate cash and drive higher
profitability.  Known for Breakthrough Process Performance, Thomas
Group creates and implements customized improvement strategies for
sustained performance improvements in all facets of the business
enterprise.


TITAN INTERNATIONAL: Notes Tender Deal Cues Moody's Rating Cut
--------------------------------------------------------------
Moody's Investors Service said Titan International, Inc.'s 8%
senior unsecured notes tender transaction could result in a rating
downgrade for any untendered notes.  The B2 senior unsecured note
rating would be vulnerable to a senior secured debt financing.

Moody's last action on Titan took place December 16, 2009, when
the rating outlook was changed to negative from stable and the B2
corporate family rating was affirmed.

Titan, headquartered in Quincy, ,IL is a manufacturer of wheels,
tires and assemblies for off-highway vehicles serving the
agricultural, earthmoving/construction and consumer end markets.
Last twelve months ended June 30, 2010, revenues were
$714 million.


TRADE SECRET: U.S. Trustee Wants Chapter 11 Trustee Appointed
-------------------------------------------------------------
Dow Jones' DBR Small Cap reports that the U.S. Justice Department
is asking a bankruptcy judge to appoint a trustee to oversee Trade
Secret Inc. during its Chapter 11 case, saying its chief
executive, Brian Luborsky, is "unfit" to serve as a fiduciary to
the company's creditors.

According to DBR, U.S. trustee Roberta A. DeAngelis expressed
concern over the company's sale process and millions of dollars of
"undocumented" transfers from debtor companies to nondebtor
affiliates in the months leading up to the company's July Chapter
11 filing.  The U.S. trustee is asking the court to appoint a
trustee to take over the company's day-to-day management from Mr.
Luborsky.

                        About Trade Secret

Premier Salons Beauty Inc., Trade Secret Inc., and six affiliates
filed for bankruptcy protection on July 6 (Bankr. D. Del. Lead
Case No. 10-12153).  The Chapter 11 petitions of Premier Salons
and Trade Secret each estimated assets of up to $50,000 and debts
of up to $50 million.

Trade Secret and its affiliates currently own and operate
approximately 612 retail and salon locations in shopping malls and
strip centers throughout the United States and Puerto Rico, on a
collective basis.  The Trade Secret Group consists of stores
operating primarily under four trade names: Trade Secret, Beauty
Express, BeautyFirst, and PureBeauty(R).

Joseph M. Barry, Esq., at Young, Conaway, Stargatt & Taylor,
represents the Debtors in their Chapter 11 effort.  Epiq
Bankruptcy Solutions, LLC, is claims agent to the Debtors.

Non-debtor affiliates Premier Salons, Inc. and Premier Salons Ltd.
and its U.S. and Canadian corporate affiliates own and operate 340
hair and cosmetic service salons throughout North America, with
locations in specialty stores such as Saks, Sears, and Macy's.


TRUVO USA: Default Swaps on Loans to Be Settled at Today's Auction
------------------------------------------------------------------
Patricia Kuo at Bloomberg News reports that credit-default swaps
linked to loan of Truvo Subsidiary Corp., are to be settled at a
credit event auction on Sept. 9, according to a statement from
Markit Group Plc.  Dealers called the auction in July after the
bankruptcy filing of Truvo USA LLC and four affiliates.

                          About Truvo USA

Wilmington, Delaware-based Truvo USA LLC is a non-operating
subsidiary of Belgium-based Truvo Luxembourg S.a.r.l, which
publishes print and online directories through its operating
subsidiaries.

Truvo USA and other non-operating affiliates filed for Chapter 11
bankruptcy protection on July 1, 2010 (Bankr. S.D.N.Y. Lead Case
No. 10-13513). The Company estimated US$500 million to US$1
billion in assets and more than US$1 billion in debts in its
Chapter 11 petition.

Sean A. O'Neal, Esq., and Thomas J. Moloney, Esq., at Cleary
Gottlieb Steen & Hamilton, LLP, and Vincent Edward Lazar, Esq., at
Jenner & Block LLP, assist the Company in its restructuring
effort.  Jenner & Block LLP and Simpson Thacher & Bartlett LLP are
the Company's special counsel.  Houlihan Lokey Howard & Zukin
(Europe), Limited, is the Company's restructuring and financial
advisor.

Truvo Luxembourg and its operating subsidiaries have not sought
protection under Chapter 11 protection or any other insolvency
regime.


TRUVO USA: Wins Approval for Bankruptcy Plan Voting
---------------------------------------------------
David McLaughlin at Bloomberg News reports that Truvo USA LLC
received court permission to move forward with its restructuring
plan by sending the proposal to creditors for voting.  U.S.
Bankruptcy Judge Arthur Gonzalez approved the explanatory
disclosure statement, allowing voting to proceed.  In his order,
Judge Gonzalez approved a voting deadline of Oct. 1.  Truvo will
return to court in October or November to ask him to approve the
plan.

Under the Plan, the senior lenders under are to receive the new
equity plus EUR600 million new debt.  In return for the EUR595
million on two issues of second-priority notes, the holders are to
be given EUR15 million and warrants for 14% of the stock at a
EUR150 million price.  If the second lien lenders vote against the
plan, they are to receive nothing.  For the EUR174 million on pay-
in- kind third-priority notes, holders will receive warrants for 1
percent of the stock.  If the class votes against the plan, they
are to receive nothing.  The new debt for the senior lenders is to
consist of EUR350 million in first-lien debt, EUR100 million in
second-lien debt, and EUR150 million in pay-in-kind debt.

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

                          About Truvo USA

Wilmington, Delaware-based Truvo USA LLC is a non-operating
subsidiary of Belgium-based Truvo Luxembourg S.a.r.l, which
publishes print and online directories through its operating
subsidiaries.

Truvo USA and other non-operating affiliates filed for Chapter 11
bankruptcy protection on July 1, 2010 (Bankr. S.D.N.Y. Lead Case
No. 10-13513). The Company estimated US$500 million to US$1
billion in assets and more than US$1 billion in debts in its
Chapter 11 petition.

Sean A. O'Neal, Esq., and Thomas J. Moloney, Esq., at Cleary
Gottlieb Steen & Hamilton, LLP, and Vincent Edward Lazar, Esq., at
Jenner & Block LLP, assist the Company in its restructuring
effort.  Jenner & Block LLP and Simpson Thacher & Bartlett LLP are
the Company's special counsel.  Houlihan Lokey Howard & Zukin
(Europe), Limited, is the Company's restructuring and financial
advisor.

Truvo Luxembourg and its operating subsidiaries have not sought
protection under Chapter 11 protection or any other insolvency
regime.


UNITED COMPONENTS: S&P Retains CreditWatch Positive on 'B-' Rating
------------------------------------------------------------------
Standard & Poor's Ratings Services said its 'B-' corporate credit
rating on United Components Inc. remains on CreditWatch, where it
was placed July 30, 2010, with positive implications.  If UCI
completes its proposed senior debt refinancing, thereby improving
liquidity, S&P expects to raise the corporate credit rating to
'B'.  The rating could remain on CreditWatch, or S&P could remove
it from CreditWatch, if S&P concludes that the company is
reasonably likely to pursue its planned common equity issuance in
the near term.

"The CreditWatch placement now reflects S&P's belief that near-
term risks to the company's financial flexibility will be reduced
by the senior debt refinancing," said Standard & Poor's credit
analyst Nancy Messer.  In addition, S&P believes liquidity will be
bolstered by the addition of a revolving credit line, as UCI has
no revolving line currently.  Still, the CreditWatch also
continues to reflect the company's plans to issue equity.

The intention of UCI International (formerly UCI HoldCo Inc.) to
issue public equity and use the proceeds to permanently reduce
debt was the original reason for S&P's CreditWatch placement.  In
S&P's opinion, issuing equity would allow the company to pay down
UCI International's PIK notes.

S&P believes the company will use proceeds from the new term loan
to pay down entirely the current term loan D due June 2012 and the
9.375% subordinated debt due June 2013.  Still, S&P also believes
UCI will remain highly leveraged following the proposed senior
debt transaction, with lease-adjusted total debt to EBITDA of
about 6x.

UCI is a supplier to the U.S. automotive aftermarket.  S&P views
the business risk profile as weak and the financial risk profile
as highly leveraged.  UCI is highly leveraged because of pressures
on EBITDA and cash flow in 2009, combined with accretion of
indirect parent UCI International Inc.'s $235 million payment-in-
kind notes, which S&P views as debt.  The company had total
balance sheet debt of $407 million at June 30, 2010, plus another
$339 million in PIK notes held by a third party.

UCI's weak business risk profile reflects the highly competitive
character of the automotive aftermarket and the company's limited
revenue diversity.  Of UCI's revenues for 2009, 88% were derived
from the aftermarket (replacement parts for older vehicles) and
12% from the original equipment manufacturing and service markets
(relatively new vehicles).  Competition from parts suppliers in
low-cost countries affects pricing power for U.S. aftermarket
participants.  UCI's earnings are subject to volatility in costs
for commodities and energy as well as changes in foreign currency
exchange rates, both of which have affected profits in the past
several years.

The positive CreditWatch listing reflects S&P's view that if UCI
completes the bank financing as proposed, S&P would raise the
corporate credit rating to 'B'.  The CreditWatch also reflects the
company's plans to proceed with its proposed equity issuance as
described in the company's recently filed S-1 with the SEC.  S&P
believes proceeds raised from this offering, combined with cash on
hand, will be used to fully pay down the $235 million principal
amount of PIK notes.

S&P expects to raise the corporate credit rating to 'B' if the
proposed debt financing is completed in the next few weeks.  The
ratings could remain on CreditWatch positive if S&P believes the
potential equity offering will proceed.  If the bank refinancing
is not completed, S&P could remove the rating from CreditWatch and
affirm it at 'B-'.


UNIVERSAL BUILDING: Creditors Panel Want Chapter 11 Trustee
-----------------------------------------------------------
Dow Jones' DBR Small Cap reports that unsecured creditors want an
independent official to take the reins in Universal Building
Products Inc.'s case, saying they've lost all confidence in the
company.

                     About Universal Building

Westminster, California-based Universal Building Products, Inc.,
dba UBP, filed for Chapter 11 bankruptcy protection on August 3,
2010 (Bankr. D. Del. Case No. 10-12453).  Mark Minuti, Esq.,
MaryJo Bellew, Esq., and Teresa K.D. Currier, Esq., at Saul Ewing
LLP, assists the Debtor in its restructuring effort.  UBP
estimated $1 million to $10 million in assets and $10 million to
$50 million in debts in its petition.

The Debtor's affiliates Accubrace, Inc. (Bankr. D. Del. Case No.
10-12454), Don De Cristo Concrete Accessories, Inc. (Case No. 10-
12455), Form-Co, Inc. (Case No. 10-12456), and Universal Form
Clamp, Inc. (Case No. 10-12457), filed separate Chapter 11
petitions on August 4, 2010.  Accubrace estimated $500,001 to
$1 million in assets and $10 million to $50 million in debts.


US AIRWAYS: Pilots Ink Alliance With Brotherhood of Teamsters
-------------------------------------------------------------
The US Airline Pilots Association and the Airline Division of the
International Brotherhood of Teamsters disclosed that the
formation of a Strategic Alliance.  USAPA has been working
diligently to develop and maintain effective working relationships
with other pilot unions and labor groups for some time.  One of
those relationships is with the International Brotherhood of the
Teamsters Airline Division (IBT-AD).  USAPA and the Airline
Division have already worked together on many projects, from
supporting the IBT-represented Amerijet pilots during their
strike, to calling for bankruptcy reform, to lobbying Congress on
flight and duty time issues and more on Capitol Hill.  In
addition, the IBT-AD works closely with the Coalition of Airline
Pilots Associations (CAPA), an industry advocacy group to which
USAPA belongs and with whom it is very active.

"We welcome this strategic alliance with USAPA and its 5,200
pilots," said Teamsters Airline Division Director Captain David
Bourne.  "US Airways pilots stood with our Amerijet pilots during
their strike, and continue to be partners with us on numerous
legislative issues, which will improve the working environment and
safety of airline pilots. Our alliance with USAPA will give our
safety and contract initiatives more power."

Commenting on the Strategic Alliance, President Mike Cleary said,
"The Teamsters are true trade unionists, have considerable
influence in Washington, D.C., and represent workers across the
global supply chain (warehouses, ports, fuel supplies, etc).  Such
a strategic alliance will be useful moving forward to help USAPA
and our brothers and sisters at IBT to achieve our common goals,
which include obtaining an industry-standard contract and working
toward bankruptcy reform, Railway Labor Act reform, Flight and
Duty Time reform and safety initiatives."

                         About USAPA

Headquartered in Charlotte, N.C., the US Airline Pilots
Association (USAPA) represents the 5,200 mainline pilots who fly
for US Airways.  USAPA's mission is to ensure safe flights for
airline passengers by guaranteeing that their lives are in the
hands of only the most qualified, competent and well-equipped
pilots.  USAPA will fight against any practices that may
jeopardize its pilots' training, equipment, workplace environment,
compensation or work/life balance, or that compromise its pilots'
ability to execute the optimal flight.

                        About The Teamsters

Founded in 1903, the International Brotherhood of Teamsters
represents 1.4 million hardworking men and women in the United
States, Canada and Puerto Rico.

                      About US Airways

US Airways -- http://www.usairways.com/-- along with US Airways
Shuttle and US Airways Express, operates more than 3,000 flights
per day and serves more than 190 communities in the U.S., Canada,
Mexico, Europe, the Middle East, the Caribbean, Central and South
America.

Under a Chapter 11 plan declared effective on March 31, 2003,
USAir emerged from bankruptcy with the Retirement Systems of
Alabama taking a 40% equity stake in the deleveraged carrier in
exchange for $240 million infusion of new capital.

US Airways and its subsidiaries filed another Chapter 11 petition
on September 12, 2004 (Bankr. E.D. Va. Case No. 04-13820).  Brian
P. Leitch, Esq., Daniel M. Lewis, Esq., and Michael J. Canning,
Esq., at Arnold & Porter LLP, and Lawrence E. Rifken, Esq., and
Douglas M. Foley, Esq., at McGuireWoods LLP, represented the
Debtors in their restructuring efforts.  The USAir II bankruptcy
plan became effective on September 27, 2005.  The Debtors
completed their merger with America West on the same date. (US
Airways Bankruptcy News; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).

                       *     *     *

US Airways Group carries Moody's "Caa1" Long-Term rating, LT Corp.
family rating and probability of default rating.  Outlook is
negative.

US Airways Group carries Standard & Poor's "B-" LT Foreign Issuer
Credit rating and LT Local Issuer credit rating.  Outlook is also
negative.

US Airways Group carries Fitch's "CCC" LT Issuer default rating
and "C" Senior unsecured debt rating.  Outlook is also negative.


VALLEY MHP: Case Summary & Largest Unsecured Creditor
-----------------------------------------------------
Debtor: Valley MHP, LLC
          aka Woodley Trailer Park
        7936 Woodley Ave, Unit B
        Van Nuys, CA 91406

Bankruptcy Case No.: 10-20599

Chapter 11 Petition Date: August 25, 2010

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

Judge: Geraldine Mund

Debtor's Counsel: Robert Reganyan, Esq.
                  REGANYAN LAW FIRM
                  100 N Brand Blvd., #18
                  Glendale, CA 91203
                  Tel: (818) 649-0879
                  Fax: (818) 583-1708
                  E-mail: reganyanlawfirm@gmail.com

Scheduled Assets: $1,127,510

Scheduled Debts: $2,308,706

In its list of 20 largest unsecured creditors, the Company placed
only one entry:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
LA DWP                    Utility Bills          $14,888
111 N. Hope St
Los Angeles, CA 90012

The petition was signed by Mark Magna, manager.


VICTOR MELLOR: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Victor G. Mellor
        13124 Via Flavia
        Placida, FL 33946

Bankruptcy Case No.: 10-20398

Chapter 11 Petition Date: August 25, 2010

Court: United States Bankruptcy Court
       Middle District of Florida (Ft. Myers)

Judge: David H. Adams

Debtor's Counsel: Stephen R. Leslie, Esq.
                  STICHTER, RIEDEL, BLAIN & PROSSER
                  110 East Madison Street, Suite 200
                  Tampa, FL 33602-4700
                  Tel: (813) 229-0144
                  E-mail: sleslie.ecf@srbp.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 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flmb10-20398.pdf


US AIRWAYS: Pilots Protest Low Pay, Pace of Contract Talks
----------------------------------------------------------
The US Airline Pilots Association, representing the pilots of US
Airways, will picket at the Philadelphia International Airport to
bring attention to what it believes to be US Airways' deliberate
efforts to drag out contract negotiations since 2005, while
benefiting from paying its pilots the lowest wages among the major
airlines.

"The pilots of US Airways have made significant concessions to
help the airline successfully navigate multiple bankruptcies and
the economic challenges that resulted from the terrorist attacks
of September 11, 2001," explained USAPA President Mike Cleary.
"We did so with the full expectation that US Airways would act
morally at the next round of negotiations by remembering our
sacrifices. Now that those difficult times are behind us, US
Airways management is not stepping up at the bargaining table.  By
dragging their feet, they are in effect extending those
concessions indefinitely.  In light of 60% increases in management
costs since 2006, frankly, it's insulting!"

"Unfortunately, the Railway Labor Act (RLA) permits this type of
bad faith negotiating behavior," Cleary continued.  "However,
under specific circumstances, the RLA also permits job actions.
The result of our willingness to help this airline in their times
of need is that our pilots have been left far behind the rest of
the industry regarding pay and benefits. It is time for that to
change."

In September 2005, US Airways and America West Airlines announced
a merger of the two carriers.  In USAPA's view, that attempt at
consolidation has not gone smoothly.

"This month marks five years in which US Airways management has
failed to complete the merger between US Airways and America West
Airlines.  From the pilots' perspective, the carrier is operating
as two separate airlines," said Cleary.  "After more than nine
billion dollars in concessions to help save the airline, the East
pilots continue to work under a bankruptcy-era contract designed
to help the Company survive, while our fellow pilots from the
original America West Airlines continue to work under a contract
negotiated under the strict covenants of the Air Transportation
Stabilization Board (ATSB) loans."

Before the merger, both US Airways and America West accepted ATSB
loans that were designed to aid airlines that lacked reasonable
credit after September 11, 2001, and were heavily dependent on
strict control of labor costs.

The US Airways pilots entered contract negotiations with
management in November 2005 under the terms of a Transition
Agreement at the time of the US Airways-America West merger.  In
April 2009, USAPA requested a National Mediation Board (NMB)
facilitator to assist the parties in reaching an agreement, but US
Airways rejected that proposal.  In November 2009, USAPA applied
directly to the NMB for federally-mediated talks. The NMB granted
that request in January 2010.  NMB-mediated contract negotiations
are currently ongoing.

"It is important that the public realize that we have always tried
to work with US Airways management to seek joint solutions, and we
are committed to doing so in our contract negotiations," said
Cleary.  "However, after five years of Management's stalling
tactics -- while we work for substantially less than our industry
peers -- we have to consider what is best for our membership."

USAPA believes that, should US Airways management fail to
adequately address the pilots' concerns, contract talks could
reach an impasse and end in a self-help situation.

"Reaching the stage of self-help would be detrimental to US
Airways passengers. We care about our passengers, and we care
about our pilots and their families," Cleary said.  "We regret any
negative impact that our passengers may experience as a result of
our exercising our right to bargain for an industry-standard
contract. Our negotiating positions are reasonable, and we think
that they'll understand our unwillingness to being taken advantage
of. Everyone has their breaking point."

"It takes two committed parties to make a successful team; this is
not a solo event," Cleary added. "We are only asking for a willing
partner. So far, we've been dancing alone."

The picketing event will be held September 8, 2010, from 11:00
a.m. to 1:00 p.m. in front of the Philadelphia International
Airport at Terminal A.

                         About USAPA

Headquartered in Charlotte, N.C., the US Airline Pilots
Association (USAPA) represents the 5,200 mainline pilots who fly
for US Airways.  USAPA's mission is to ensure safe flights for
airline passengers by guaranteeing that their lives are in the
hands of only the most qualified, competent and well-equipped
pilots.  USAPA will fight against any practices that may
jeopardize its pilots' training, equipment, workplace environment,
compensation or work/life balance, or that compromise its pilots'
ability to execute the optimal flight.

                      About US Airways

US Airways -- http://www.usairways.com/-- along with US Airways
Shuttle and US Airways Express, operates more than 3,000 flights
per day and serves more than 190 communities in the U.S., Canada,
Mexico, Europe, the Middle East, the Caribbean, Central and South
America.

Under a Chapter 11 plan declared effective on March 31, 2003,
USAir emerged from bankruptcy with the Retirement Systems of
Alabama taking a 40% equity stake in the deleveraged carrier in
exchange for $240 million infusion of new capital.

US Airways and its subsidiaries filed another Chapter 11 petition
on September 12, 2004 (Bankr. E.D. Va. Case No. 04-13820).  Brian
P. Leitch, Esq., Daniel M. Lewis, Esq., and Michael J. Canning,
Esq., at Arnold & Porter LLP, and Lawrence E. Rifken, Esq., and
Douglas M. Foley, Esq., at McGuireWoods LLP, represented the
Debtors in their restructuring efforts.  The USAir II bankruptcy
plan became effective on September 27, 2005.  The Debtors
completed their merger with America West on the same date. (US
Airways Bankruptcy News; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).

                       *     *     *

US Airways Group carries Moody's "Caa1" Long-Term rating, LT Corp.
family rating and probability of default rating.  Outlook is
negative.

US Airways Group carries Standard & Poor's "B-" LT Foreign Issuer
Credit rating and LT Local Issuer credit rating.  Outlook is also
negative.

US Airways Group carries Fitch's "CCC" LT Issuer default rating
and "C" Senior unsecured debt rating.  Outlook is also negative.


VPI COMPANY: Case Summary & 2 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: VPI Company, LLC
        1010 William Blount Drive
        Maryville, TN 37801

Bankruptcy Case No.: 10-34099

Chapter 11 Petition Date: August 24, 2010

Court: United States Bankruptcy Court
       Eastern District of Tennessee (Knoxville)

Judge: Richard Stair, Jr.

Debtor's Counsel: Thomas Lynn Tarpy, Esq.
                  HAGOOD, TARPY & COX PLLC
                  Riverview Tower, Suite 2100
                  900 South Gay Street
                  Knoxville, TN 37902-1537
                  Tel: (865) 525-7313
                  E-mail: ltarpy@htandc.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 two largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/tneb10-34099.pdf

The petition was signed by Mike Ross, chief manager.


WASTE2ENERGY HOLDINGS: Posts $4MM Net Loss in June 30 Quarter
-------------------------------------------------------------
Waste2Energy Holdings, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $4.0 million on $14,834 of revenue
for the three months ended June 30, 2010, compared with a net loss
of $1.4 million on $770,388 of revenue for the three months ended
June 30, 2009.

At June 30, 2010, the Company had a working capital deficit of
$8.8 million and a $34.5 million accumulated deficit.

As of June 30, 2010, the Company has total current notes payable
of $10.4 million outstanding, including $9.5 million of its 12%
Senior Convertible Debentures and $855,053 of other short-term
debt.  The short term debt is currently in default.  The 12%
Senior Convertible Debentures mature on various dates in 2010 and
2011, with the first maturity scheduled for October 1, 2010.

The Company says it must raise additional funds on an immediate
basis in order to fund its continued operations.

The Company's balance sheet at June 30, 2010, showed $3.4 million
in total assets, $11.7 million in total liabilities, and a
stockholders' deficit of $8.3 million.

As reported in the Troubled Company Reporter on July 19, 2010,
Marcum LLP, in New York, expressed substantial doubt the Company's
ability to continue as a going concern, following its results for
the fiscal year ended March 31, 2010.  The independent auditors
noted that the Company has incurred a significant loss from
continuing operations of $11.7 million and used cash of
$5.2 million for continuing operations which resulted in an
accumulated deficit of $30.4 million and a working capital
deficiency of $6.6 million as of March 31, 2010.

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

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

                   About Waste2Energy Holdings

Greenville, S.C.-based Waste2Energy Holdings, Inc. (Pink Sheets:
WTEZ) -- http://www.waste2energy.com/-- is a "cleantech"
technology company that designs, builds, installs and sells waste
to energy plants that generate "Renewable Green Power" converting
biomass or other solid waste streams traditionally destined for
landfills into clean renewable energy.


WILLAMETTE DEVELOPMENT: Case Summary & Creditors List
-----------------------------------------------------
Debtor: Willamette Development No. 2, LLC
        400 Springtree Lane
        West Linn, OR 97068

Bankruptcy Case No.: 10-38101

Chapter 11 Petition Date: August 24, 2010

Court: U.S. Bankruptcy Court
       District of Oregon

Judge: Randall L. Dunn

Debtor's Counsel: Martin P. Meyers, Esq.
                  1000 SW Broadway, #1400
                  Portland, OR 97205
                  Tel: (503) 227-1111
                  E-mail: martin@sussmanshank.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 three largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/orb10-38101.pdf

The petition was signed by Thomas C. Shauklas, manager.


WINALTA INC: Gets Fourth Extension of CCAA Protection Until Sept 7
------------------------------------------------------------------
Winalta Inc. disclosed that the Court of Queen's Bench of Alberta,
Judicial Centre of Edmonton has granted an extension, until
September 7, 2010, of the initial Order granted on April 26, 2010
pursuant to which Winalta was granted creditor protection under
the Companies' Creditors Arrangement Act.  The extension was
supported by Deloitte & Touche, Inc., the Court-appointed Monitor
of Winalta's CCAA process and was not objected to by counsel to
Winalta's secured creditor, HSBC Bank of Canada.

Winalta Inc. is an integrated company with three main operating
divisions, Homes, Industrial, and Manufacturing. The Homes
Division sells CSA approved homes via retail centers, communities
and supply arrangements. The Oilfield Division leases portable
industrial accommodations and catering services to the energy
sector.

The TSX Venture Exchange has neither approved nor disapproved the
contents of this news release. The TSX Venture Exchange does not
accept responsibility for the adequacy or accuracy of this
release.


YELLOWSTONE MOUNTAIN: Credit Suisse Can't Collect From Founder
--------------------------------------------------------------
Steven Church at Bloomberg News reports that a bankruptcy judge
ruled that Credit Suisse Group AG's "greedy antics" bar it from
collecting $229 million on a soured loan the bank made to the
Yellowstone Club.

Credit Suisse loaned $375 million to the Yellowstone Club resort
in 2005, in an unorthodox and lucrative deal for the bank that
federal bankruptcy judge Ralph B. Kirscher described in May 2009
as a case of "naked greed" that "shocks the conscience of this
court."

As reported by the TCR on January 5, 2010, property owners have
filed a $24 billion lawsuit alleging that Credit Suisse schemed to
defraud investors in several resort communities.  The plaintiffs
allege Credit Suisse and real estate firm Cushman & Wakefield
deliberately engineered the failure of at least four major resort
projects as part of a scheme to take over the properties.
According to the reports, the proposed class-action lawsuit was
filed Sunday before the U.S. District Court for the District of
Idaho.  The initial plaintiffs are:

     -- Beau Blixseth, the son of Tim Blixseth and a Yellowstone
        Club property owner, and

     -- L. J. Gibson, an individual who bought property at
        Tamarack Resort in Idaho, Lake Las Vegas in Nevada, and
        Gin Sur Mer in the Bahamas.

                      About Yellowstone Club

Located near Big Sky, Montana, Yellowstone Club --
http://www.theyellowstoneclub.com/-- is a private golf and ski
community with more than 350 members, including Bill Gates and Dan
Quayle.  The Company was founded in 1999.

Yellowstone Mountain Club LLC and its affiliates filed for Chapter
11 on Nov. 10, 2008 (Bankr. D. Montana, Case No. 08-61570).  The
Company's owner affiliate Edra D. Blixseth, filed for Chapter 11
on March 27, 2009 (Case No. 09-60452).

In June 2009, the Bankruptcy Court entered an order confirming
Yellowstone's Chapter 11 Plan.  Pursuant to the Plan, CrossHarbor
Capital Partners, LLC, acquired equity ownership in the
reorganized Club for $115 million.

Attorneys at Bullivant Houser Bailey PC and Bekkedahl & Green
PLLC represented the Debtors.  The Debtors hired FTI Consulting
Inc. and Ronald Greenspan as CRO.  The official committee of
unsecured creditors were represented by Parsons, Behle and
Latimer, as counsel, and James H. Cossitt, Esq., at local counsel.
Credit Suisse, the prepetition first lien lender, was represented
by Skadden, Arps, Slate, Meagher & Flom.


YELLOWSTONE MOUNTAIN: Judge Orders Founder to Pay $40MM
-------------------------------------------------------
Dow Jones' DBR Small Cap reports that Judge Ralph B. Kirscher of
the U.S. Bankruptcy Court in Butte, Montana, on Tuesday declared
Yellowstone Mountain Club LLC founder Timothy Blixseth liable for
the minimum amount of damages -- $40.1 million -- that the club's
creditors wanted to pin on Mr. Blixseth for his role in driving
the exclusive ski-and-golf community deep into debt.

DBR reports Judge Kirscher ordered Mr. Blixseth to pay $40.1
million into the trust set up to pay creditors under Yellowstone
Club's Chapter 11 plan of reorganization, according to court
papers.  The trustee in charge of the trust, Marc S. Kirschner,
had sought to hold Mr. Blixseth liable for a minimum of $40.1
million.  The maximum amount of damages Mr. Kirschner had
requested was $286.4 million, which represents the amount of loan
proceeds Mr. Blixseth was found to have improperly funneled away
from the club.

                      About Yellowstone Club

Located near Big Sky, Montana, Yellowstone Club --
http://www.theyellowstoneclub.com/-- is a private golf and ski
community with more than 350 members, including Bill Gates and Dan
Quayle.  The Company was founded in 1999.

Yellowstone Mountain Club LLC and its affiliates filed for Chapter
11 on Nov. 10, 2008 (Bankr. D. Mont. Case No. 08-61570).  The
Company's owner affiliate Edra D. Blixseth, filed for Chapter 11
on March 27, 2009 (Bankr. D. Mont. Case No. 09-60452).

In June 2009, the Bankruptcy Court entered an order confirming
Yellowstone's Chapter 11 Plan.  Pursuant to the Plan, CrossHarbor
Capital Partners, LLC, acquired equity ownership in the
reorganized club for $115 million.

Attorneys at Bullivant Houser Bailey PC and Bekkedahl & Green
PLLC, represented the Debtors.  The Debtors hired FTI Consulting
Inc. and Ronald Greenspan as CRO.  The official committee of
unsecured creditors were represented by Parsons, Behle and
Latimer, as counsel, and James H. Cossitt, Esq., at local counsel.
Credit Suisse, the prepetition first lien lender, was represented
by Skadden, Arps, Slate, Meagher & Flom.


* HIG's Distressed-Debt Arm Raises $1.1 Billion in Funding
----------------------------------------------------------
Dow Jones' DBR Small Cap reports that HIG Capital LLC's
distressed-debt arm Bayside Capital has held a $1.1 billion final
closing for H.I.G. Bayside Loan Opportunity Fund II LP.


* Hilco Real Estate Disclosed Bankruptcy Sale Country Estate
------------------------------------------------------------
Hilco Real Estate, LLC has been retained to sell Monteverde at
Oldstone Manor, a spectacular, 29-acre country estate.  Located in
the Hudson Valley, less than an hour from New York City, the
property features suites and rooms for overnight guests, spa,
banquet hall and full restaurant.

The property's owner filed for bankruptcy in Connecticut in
December, 2008. Hilco Real Estate was appointed by the Chapter 7
Trustee to dispose of the Debtor's New York real estate.  Hilco is
partnering with local brokerage firm NAI Friedland Realty.  A
sealed bid auction process has been selected as the sale method
most likely to maximize the amount to be recovered.  A bid
deadline of November 10, 2010 has been set.

"Monteverde can be an excellent platform for an event coordinator
or catering business," said Neil Aaronson, CEO of Hilco Real
Estate.  He added, "With its proximity to Manhattan, beautiful
setting in the Hudson River Valley and in-place amenities, we
expect great interest in this unique property."

Andrew Becker, Sr. Associate for Hilco Real Estate, added "This
sale has been structured to enable an orderly disposition of the
asset in an expeditious timeframe.  We are excited about working
with the Chapter 7 Trustee to monetize the property on behalf of
the estate."

                    About Hilco Real Estate, LLC

Hilco Real Estate -- http://www.hilcorealestate.com/-- helps
businesses improve leverage and cash flow by repositioning and
restructuring their real estate commitments.  The company's focus
is to optimize value in the shortest period of time.  Core
competencies include strategic advisory and consulting services,
owned portfolio and individual property disposition, lease
portfolio sales/assignments, lease termination, lease
renegotiation, leasing/subleasing, sale of non-core owned assets,
sale/leaseback transactions, and fee and appraisals for leased and
owned assets.  The company, which is headquartered in Northbrook,
Ill, is a division of Hilco Trading, LLC.


* Mariner Buying 40% Stake in Co. Holding Failed Banks' Assets
--------------------------------------------------------------
The Federal Deposit Insurance Corporation has closed on a sale of
a 40% equity interest in a limited liability company created to
hold assets with an unpaid principal balance of approximately $762
million from 20 failed bank receiverships.  The winning bidder of
the Multibank Structured Transaction is Mariner Real Estate
Partners, LLC, in Leawood, Kansas, with a price of 30.93% of the
unpaid principal balance.

As an equity participant, the FDIC will retain a 60% stake in the
LLC and share in the returns on the assets. The FDIC offered 1:1
leverage financing and will issue Purchase Money Notes through the
LLC in the original principal amount of $109 million. The sale was
conducted on a competitive basis with the FDIC receiving a total
of eight bids from five bidders for either a 40% leveraged
ownership interest or a 20% unleveraged ownership interest in the
newly-formed LLC.

The FDIC as receiver for the failed banks will convey to the LLC a
portfolio of approximately 1,062 distressed residential and
commercial acquisition and development loans, of which more than
80% are delinquent. Collectively, the loans have an unpaid
principal balance of $762 million. Fifty-nine percent of the
collateral in the portfolio is located in Colorado, Utah,
California, Idaho, Nevada, and Washington. As the LLC's managing
equity owner, Mariner will manage, service and ultimately dispose
of the LLC's assets.

The bid received from Mariner was determined to be the offer that
resulted in the greatest net return to the participating
receiverships. All of the loans were from banks that failed during
the past 25 months.


* Kramer Levin Adds Two Lateral Partners for PE Practice
--------------------------------------------------------
Kramer Levin Naftalis & Frankel LLP has expanded its private
equity practice with the addition of James J. Moriarty and Russell
J. Pinilis as partners in the firm's New York office. Prior to
joining Kramer Levin, Mr. Moriarty and Mr. Pinilis were partners
at O'Melveny & Myers.

Mr. Moriarty represents a number of middle market private equity
sponsors and their portfolio companies in a wide variety of
industries and transactions, including acquisition and sale
transactions, leveraged buyouts, restructurings,
recapitalizations, management equity arrangements and mezzanine
and growth equity financings.

Mr. Pinilis is a tax and fund formation attorney and has worked
extensively with private equity investment funds, representing
them in a wide variety of matters, including fund and transaction
structuring, ensuring the tax efficiency of investments and
portfolio company transactions and fund formation matters.  In
addition, he works extensively with a variety of corporations and
partnerships on the tax aspects of mergers and acquisitions,
leveraged buyouts, financing transactions and international tax
planning.

"Russell and Jim each bring 15 years of focused transactional
experience and will add an exciting dimension to Kramer Levin's
private equity practice that complements our existing
representation of private equity sponsors and other participants
in private equity transactions," said Paul Pearlman, the managing
partner of Kramer Levin.  "As the state of the economy and private
equity markets continue to evolve, their breadth of knowledge,
especially in the mid-market sector, will be an invaluable asset
to our firm."

For more than a decade, Kramer Levin has had one of the leading
and most diverse investment fund practices in the country, with a
special emphasis on complex transactions within the middle-market.
The firm utilizes a multi-disciplinary approach, requiring input
and analysis from attorneys in the mergers & acquisitions/joint
ventures, tax, securities, corporate restructuring & bankruptcy
and other practices to offer creative solutions to financial and
strategic investors regarding complex, strategic and legal issues.
The firm has experience in all types of private equity and venture
capital transactions, including leveraged buyouts, management
buyouts and other change-in control transactions,
recapitalizations and restructurings, convertible debt and
preferred stock investments and angel rounds of financing.  The
firm has extensive experience in the formation of U.S. and non-
U.S. private equity funds, venture capital funds, hedge funds and
special purpose vehicles.  In the 2010 Chambers USA and Legal 500
client guides, the firm was ranked highly for its middle-market
M&A practice, and specifically for its expertise in the private
equity arena.

Kramer Levin's recent private equity transactions include its
representation of BlackRock, Inc. in the joint venture that formed
Private National Mortgage Acceptance Company, Stone Point Capital
in a number of equity investments including Pierpont Securities
and NXT Capital, Perella Weinberg Partners in various joint
ventures and asset acquisitions and MSD Capital in numerous debt
and equity investments and restructuring transactions.

Mr. Moriarty holds a J.D. from New York University School of Law
and a B.A. from Williams College.

Mr. Pinilis holds an L.L.M. in tax and a J.D., cum laude, from New
York University School of Law and a B.A. from Franklin and
Marshall College. He has been an adjunct professor at New York Law
School since 2006 and is a frequent author and lecturer on tax
issues related to private equity transactions.

Kramer Levin Naftalis & Frankel LLP -- http://www.kramerlevin.com/
-- is a premier, full-service law firm with offices in New York
and Paris.  Firm lawyers are leading practitioners in their
respective fields, who understand their clients' businesses,
demonstrate a strong focus on client service and offer innovative
and practical solutions.  The firm represents Global 1000 and
emerging growth companies, institutions and individuals, across a
broad range of industries.  The firm, its attorneys and practice
groups have received the highest rankings, awards and honors for
their work including from Best Lawyers, Chambers USA/Global,
Lawdragon 500, Human Resources Executive, American College of
Trial Lawyers, National Law Journal, National Bankruptcy
Conference, BTI Client Service All-Star Team for Law Firms,
Benchmark Litigation, Institutional Investor, The International
Who's Who of Corporate Immigration Lawyers, Dealflow Media,
Investment Dealers Digest, IP Law & Business Almanac, Legal 500
(US and European), Real Estate Weekly and M&A Advisor, among many
others. The firm has also been widely honored for its strong
commitments to pro bono, community service and diversity efforts.


* Reed Smith's Kurt Gwynne One of Law360's Most Admired Lawyers
---------------------------------------------------------------
Praised for an understated touch atypical of big-game litigators,
Reed Smith LLP's Kurt Gwynne has quietly won millions of dollars
for creditors in high-stakes bankruptcies, written articles cited
by federal appeals courts and redefined what it means to work
late, earning the nocturnal partner a place among Law360's 10 Most
Admired Bankruptcy Attorneys.


* Chapter 11 Cases with Assets & Liabilities Below $1,000,000
-------------------------------------------------------------
Recent Chapter 11 cases filed with assets and liabilities below
$1,000,000:

In Re Derrick D. Lightfoot
   Bankr. C.D. Calif. No. 10-47215
      Chapter 11 Petition filed September 1, 2010
         See http://bankrupt.com/misc/cacb10-47215.pdf

In Re Cerag Development, LLC
   Bankr. E.D. Calif. No. 10-60201
     Chapter 11 Petition filed September 1, 2010
         filed pro se

In Re Aquatic Pools, Inc.
        dba Wave Pool and Spa Supply Store
   Bankr. M.D. Fla. No. 10-21370
      Chapter 11 Petition filed September 1, 2010
         See http://bankrupt.com/misc/flmb10-21370.pdf

In Re Euro Trash LLC
   Bankr. M.D. Fla. No. 10-15734
      Chapter 11 Petition filed September 1, 2010
         See http://bankrupt.com/misc/flmb10-15734.pdf

In Re Marbella Park Homeowners' Association, Inc.
   Bankr. S.D. Fla. No. 10-36465
      Chapter 11 Petition filed September 1, 2010
         See http://bankrupt.com/misc/flsb10-36465.pdf

In Re MaMa Mia Pizzeria and Wings, Inc.
        dba Goodfellas Pizza Bar & Wings
   Bankr. N.D. Ga. No. 10-85408
     Chapter 11 Petition filed September 1, 2010
         filed pro se

In Re Nomadic Investments, LLC
        dba Firkin Pub
        dba Firkin & Lindbergh
   Bankr. N.D. Ga. No. 10-85479
      Chapter 11 Petition filed September 1, 2010
         See http://bankrupt.com/misc/ganb10-85479.pdf

In Re Robert Jude Rodriguez
   Bankr. W.D. La. No. 10-51372
      Chapter 11 Petition filed September 1, 2010
         See http://bankrupt.com/misc/lawb10-51372.pdf

In Re George Daniel Bevilacqua
        dba save-more Real Estate Investments & Bevilacqua
Productions
   Bankr. D. Mass. No. 10-19608
     Chapter 11 Petition filed September 1, 2010
         filed pro se

In Re Pride Youth Programs, Inc.
   Bankr. W.D. Mich. No. 10-10746
      Chapter 11 Petition filed September 1, 2010
         See http://bankrupt.com/misc/miwb10-10746.pdf

In Re St. Cloud Hotel And Casino, Inc.
   Bankr. D. Nev. No. 10-26694
     Chapter 11 Petition filed September 1, 2010
         filed pro se

In Re The Plumbing Gallery, LLC
   Bankr. D. N.J. No. 10-37150
      Chapter 11 Petition filed September 1, 2010
         See http://bankrupt.com/misc/njb10-37150.pdf

In Re Rothen Osaka, Inc.
        dba Osaka Restaurant
   Bankr. E.D. Pa. No. 10-17465
      Chapter 11 Petition filed September 1, 2010
         See http://bankrupt.com/misc/paeb10-17465.pdf

In Re John A. Todhunter
   Bankr. E.D. Va. No. 10-17406
     Chapter 11 Petition filed September 1, 2010
         filed pro se

In Re Stonecrest Financial, Inc.
   Bankr. E.D. Va. No. 10-36095
     Chapter 11 Petition filed September 1, 2010
         filed pro se

In Re Thornhill's Florist, Inc.
   Bankr. N.D. W.Va. No. 10-01896
      Chapter 11 Petition filed September 1, 2010
         See http://bankrupt.com/misc/wvnb10-01896.pdf

In Re Samuel N. Underwood
   Bankr. M.D. Ala. No. 10-11720
      Chapter 11 Petition filed September 2, 2010
         See http://bankrupt.com/misc/almb10-11720.pdf

In Re Fairway Escapes, LLC
   Bankr. D. Ariz. No. 10-28122
      Chapter 11 Petition filed September 2, 2010
         See http://bankrupt.com/misc/azb10-28122.pdf

In Re Behnam Ghasseminejad
   Bankr. C.D. Calif. No. 10-21043
     Chapter 11 Petition filed September 2, 2010
         filed pro se

In Re Deborah L. Travis
   Bankr. M.D. Fla. No. 10-07748
      Chapter 11 Petition filed September 2, 2010
         See http://bankrupt.com/misc/flmb10-07748.pdf

In Re Caring Heart Home Health Corp., Inc.
   Bankr. S.D. Fla. No. 10-36483
     Chapter 11 Petition filed September 2, 2010
         filed pro se

In Re James Ducan Bright
   Bankr. M.D. Ga. No. 10-31563
      Chapter 11 Petition filed September 2, 2010
         See http://bankrupt.com/misc/gamb10-31563.pdf

In Re Madison Life Capital LLC
   Bankr. S.D. N.Y. No. 10-14721
      Chapter 11 Petition filed September 2, 2010
         See http://bankrupt.com/misc/nysb10-14721.pdf

In Re VPI General Partner, LLC
   Bankr. S.D. Texas No. 10-37508
      Chapter 11 Petition filed September 2, 2010
         See http://bankrupt.com/misc/txsb10-37508.pdf

In Re Cavaricci LLC
   Bankr. W.D. Texas No. 10-53405
      Chapter 11 Petition filed September 2, 2010
         See http://bankrupt.com/misc/txwb10-53405.pdf

In Re R. G. & C. Automotive Inc.
   Bankr. W.D. Texas No. 10-53385
      Chapter 11 Petition filed September 2, 2010
         See http://bankrupt.com/misc/txwb10-53385.pdf

In Re R.L. & Sons LLC
        aka Gene Brown's AABCO Transmissions
   Bankr. W.D. Texas No. 10-53403
      Chapter 11 Petition filed September 2, 2010
         See http://bankrupt.com/misc/txwb10-53403.pdf

In Re Steven John Nahas
   Bankr. E.D. Va. No. 10-17453
     Chapter 11 Petition filed September 2, 2010
         filed pro se

In Re Rainbow Children's Academy, Inc.
   Bankr. C.D. Calif. No. 10-47732
      Chapter 11 Petition filed September 3, 2010
         See http://bankrupt.com/misc/cacb10-47732.pdf

In Re Humes Properties, LLC
   Bankr. D. Dela. No. 10-12791
      Chapter 11 Petition filed September 3, 2010
         See http://bankrupt.com/misc/deb10-12791.pdf

In Re American Travel Plaza, Inc.
   Bankr. M.D. Ga. No. 10-11543
      Chapter 11 Petition filed September 3, 2010
         See http://bankrupt.com/misc/gamb10-11543.pdf

In Re God's Way Rental Properties, LLC
   Bankr. M.D. Ga. No. 10-71427
      Chapter 11 Petition filed September 3, 2010
         See http://bankrupt.com/misc/gamb10-71427.pdf

In Re Stone Mountain Investments, LLC
   Bankr. N.D. Ga. No. 10-85823
      Chapter 11 Petition filed September 3, 2010
         See http://bankrupt.com/misc/ganb10-85823.pdf

In Re Urban Green Duplex, LLC
   Bankr. N.D. Ga. No. 10-86063
      Chapter 11 Petition filed September 3, 2010
         See http://bankrupt.com/misc/ganb10-86063.pdf

In Re American Consumer Products Corporation
        aka 39-2055055
   Bankr. N.D. Ill. No. 10-39851
     Chapter 11 Petition filed September 3, 2010
         filed pro se

In Re Dearborn Restaurant Group
       dba THE Joynt
   Bankr. N.D. Ill. No. 10-39803
      Chapter 11 Petition filed September 3, 2010
         See http://bankrupt.com/misc/ilnb10-39803.pdf

In Re Sheldon-Slauson, LLC
   Bankr. W.D. Mo. No. 10-31033
      Chapter 11 Petition filed September 3, 2010
         See http://bankrupt.com/misc/mowb10-31033.pdf

In Re Hanover Development, LLC
   Bankr. D. S.C. No. 10-06404
      Chapter 11 Petition filed September 3, 2010
         See http://bankrupt.com/misc/scb10-06404.pdf

In Re Fred Marshall Trainor
   Bankr. N.D. Texas No. 10-45775
      Chapter 11 Petition filed September 3, 2010
         See http://bankrupt.com/misc/txnb10-45775.pdf

In Re Irvin & Associates, Inc.
        dba Preferred Pool Corp
   Bankr. N.D. Texas No. 10-36212
      Chapter 11 Petition filed September 3, 2010
         See http://bankrupt.com/misc/txnb10-36212.pdf

In Re Yong Hui Hill
   Bankr. N.D. Texas No. 10-36211
     Chapter 11 Petition filed September 3, 2010
         filed pro se

In Re Matrix Spencer, Inc.
   Bankr. S.D. Texas No. 10-37590
      Chapter 11 Petition filed September 3, 2010
         See http://bankrupt.com/misc/txsb10-37590.pdf

In Re Jabez Properties LLC
   Bankr. W.D. Wash. No. 10-47323
     Chapter 11 Petition filed September 3, 2010
         filed pro se

In Re North Park Terrace Apartments V, Ltd.
        dba Original Westwood Plaza Apartments, Ltd.
   Bankr. N.D. Texas No. 10-45828
      Chapter 11 Petition filed September 4, 2010
         See http://bankrupt.com/misc/txnb10-45828p.pdf
         See http://bankrupt.com/misc/txnb10-45828c.pdf

                           *********

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

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

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

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

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

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

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

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

                           *********

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

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

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

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

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


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