TCR_Public/100927.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Monday, September 27, 2010, Vol. 14, No. 268

                            Headlines

53;59 1/2 TENTH: Case Summary & 2 Largest Unsecured Creditors
ABDUL HAMIDI: Case Summary & 5 Largest Unsecured Creditors
ABTS HOLDINGS: Case Summary & 20 Largest Unsecured Creditors
ADVANTAGE BANK: Weiss Gives Colo. Bank Very Weak E Rating
ALLIANT BANK: Weiss Gives Kan. Bank Very Weak E- Rating

AMERICAN HOMEPATIENT: Shareholders Meet Oct 12 on Sale to Highland
AMERICAN INT'L: Sees $2-Bil. FY2010 Operating Profit for AIA Unit
ARINC INC: S&P Raises Corporate Credit Rating to 'BB-'
ARROW AIR: JW Acquisitions Buys Airline for $800,000
ATLANTIC BANK: Weiss Gives S.C. Bank Very Weak E- Rating

BAILEYSVILLE STATE: Weiss Gives Kan. Bank Very Weak E+ Rating
BANK 360: Weiss Gives S.D. Bank Very Weak E+ Rating
BANK MIDWEST: Weiss Gives Mo. Bank Very Weak E Rating
BANK OF ASHEVILLE: Weiss Gives N.C. Bank Very Weak E- Rating
BANK OF GRANITE: Receives NASDAQ Notice

BANK OF NAPLES: Weiss Gives Fla. Bank Very Weak E+ Rating
BANK OF WHITMAN: Weiss Gives Wash. Bank Very Weak E- Rating
BASS RIVER: Case Summary & 2 Largest Unsecured Creditors
BAYONNE HOSPITAL: Liquidating Trustee Recover More than $12MM
BION ENVIRONMENTAL: GHP Horwath Raises Going Concern Doubt

BLAST ENERGY: Closes Purchase of Sugar Valley Field in Matagorda
BLAST ENERGY: Posts $202,184 Net Loss in June 30 Quarter
BLOCKBUSTER INC: Fitch Downgrades Issuer Default Rating to 'D'
BLOCKBUSTER INC: Moody's Downgrades Default Rating to 'D'
BOSTON GENERATING: Secured Lenders Want Sale Documents

SUMMIT BRANTLEY: To Present Plan for Confirmation on Nov. 3
BREITBURN ENERGY: Moody's Assigns 'B1' Corporate Family Rating
CANTON STATE: Weiss Gives Mo. Bank Very Weak E Rating
CAROLINA FIRST: Weiss Gives S.C. Bank Very Weak E+ Rating
CARVER STATE: Weiss Gives Ga. Bank Very Weak E- Rating

CBGB HOLDINGS: Guitar Hero Deal Okayed; Deal Proceeds in Escrow
CCGI HOLDING: S&P Assigns Corporate Credit Rating at 'B-'
CENTAUR LLC: Jr. Lenders Try to Block Credit Suisse Foreclosure
CF BANK: Weiss Gives Ohio Bank Very Weak E- Rating
CHAMPION ENTERPRISES: Files Joint Plan of Liquidation

CIRCUIT CITY: Workers Want Class Status on WARN Claim
CITIZENS BANK: Weiss Gives Tenn. Bank Very Weak E- Rating
CLEAR CREEK: Weiss Gives Colo. Bank Very Weak E+ Rating
CLOVERLEAF ENTERPRISES: Attorney's Fees Not Based on Results
COLONIAL BANCGROUP: Consents to Revocation of Securities

COLORADO VALLEY: Weiss Gives Tex. Bank Very Weak E+ Rating
COMMUNITY BANK: Weiss Gives Ga. Bank Very Weak E+ Rating
COMMUNITY BANK: Weiss Gives Ill. Bank Very Weak E+ Rating
COMMUNITY BANK: Weiss Gives Mo. Bank Very Weak E Rating
COMMUNITYONE BANK: Weiss Gives N.C. Bank Very Weak E Rating

CONSTITUTION CORPORATE: Undercapitalized; In Conservatorship
CONTECH CONSTRUCTION: Bank Debt Trades at 16% Off
CONTINENTAL TRUSTEES: S&P Assigns 'BB' Rating on $200 Mil. Notes
CORNERSTON BANK: Weiss Gives N.D. Bank Very Weak E- Rating
COVENANT BANK: Weiss Gives Ill. Bank Very Weak E Rating

CREEKSIDE SENIOR: Voluntary Chapter 11 Case Summary
CROSSTOWN STOR-N-MORE: Gets Interim OK to Pay Insider Salary
CYSTALLEX INTERNATIONAL: Posts $13.2MM Net Loss in June 30 Quarter
DAMON PURSELL: Section 341(a) Meeting Scheduled for Oct. 14
DAMON PURSELL: Files Schedules of Assets & Liabilities

DAMON PURSELL: Taps Dunn & Davison as Bankruptcy Counsel
DAVID MARCOE: Files Schedules of Assets & Liabilities
DAVID MARCOE: Section 341(a) Meeting Scheduled for Oct. 19
DARYL PRICE: Case Summary & 20 Largest Unsecured Creditors
DEEP DOWN: Posts $452,000 Net Loss in June 30 Quarter

DELAWARE COUNTY BANK: Weiss Gives Ohio Bank Very Weak E+ Rating
DENNIS NESMITH: Case Summary & 11 Largest Unsecured Creditors
DESERT SPRINGS: Case Summary & 8 Largest Unsecured Creditors
DEX MEDIA EAST: Bank Debt Trades at 24% Off in Secondary Market
DOLLAR THRIFTY: Avis Budget Hikes Cash Offer to $45.79 a Share

ELLIE CHAPPEL: Case Summary & 4 Largest Unsecured Creditors
EMPIRE RESORTS: Enters Into Settlement with Noteholders
ENTERGY LOUISIANA: Moody's Affirms Ba1 Preferred Stock Rating
ERICSON STATE: Weiss Gives Neb. Bank Very Weak E Rating
EUROBANK: Weiss Gives Fla. Bank Very Weak E+ Rating

EXCEL NATIONAL: Weiss Gives Calif. Bank Very Weak E Rating
EZRI NAMVAR: Indicted For Alleged $20 Million Fraud
FARMERS & MERCHANT: Weiss Gives Iowa Bank Very Weak E+ Rating
FARMERS STATE: Weiss Gives Ill. Bank Very Weak E- Rating
FARMERS STATE: Weiss Gives Neb. Bank Very Weak E+ Rating

FGIC CORP: Sharps Hikes Consent Fee; Exchange Offer Due Oct. 22
FIRST AMERICAN: Weiss Gives Colo. Bank Very Weak E+ Rating
FIRST BANK: Weiss Gives Fla. Bank Very Weak E+ Rating
FIRST COMMUNITY: Weiss Gives Fla. Bank Very Weak E+ Rating
FIRST HOME: Weiss Gives Fla. Bank Very Weak E- Rating

FIRST INTERNATIONAL: Weiss Gives Tex. Bank Very Weak E+ Rating
FIRST NATIONAL: Weiss Gives Fla. Bank Very Weak E+ Rating
FIRST NATIONAL: Weiss Gives Wisc. Bank Very Weak E Rating
FIRST STATE: Weiss Gives S.D. Bank Very Weak E- Rating
FRANK MONGELLUZZI: Case Summary & 20 Largest Unsecured Creditors

FREEPORT STATE: Weiss Gives Kan. Bank Very Weak E- Rating
FREESCALE SEMICON: Bank Debt Trades at 9% Off in Secondary Market
FRONTENAC BANK: Weiss Gives Mo. Bank Very Weak E- Rating
G. KLAPPENBACH: Case Summary & 16 Largest Unsecured Creditors
GANNETT CO: Moody's Gives Stable Outlook; Retains 'Ba1' Rating

GENERAL CHEMICAL: Moody's Assigns 'B1' Corporate Family Rating
GLIMCHER REALTY: Moody's Gives Stable Outlook; Affirms 'B2' Rating
GRAY TV: Bank Debt Trades at 4% Off in Secondary Market
GREAT EASTERN: Weiss Gives Fla. Bank Very Weak E+ Rating
GROVE STREET: Committee Taps Benesch Friedlander as its Counsel

HASTINGS STATE: Weiss Gives Neb. Bank Very Weak E- Rating
HAVEN TRUST BANK: Closed; First Southern Bank Assumes All Deposits
HAWAIIAN TELCOM: PUC Approves Plan of Reorganization
HEALTHSPRING INC: Moody's Assigns 'Ba3' Rating on Senior Debt
HERBST GAMING: Bank Debt Trades at 45% Off in Secondary Market

HERITAGE FIRST: Weiss Gives Ga. Bank Very Weak E Rating
HERITAGE CONSOLIDATED: Asks for OK of Plan Support Pact
HHI HOLDINGS: Moody's Affirms Corporate Family Rating at 'B2'
HIGHLAND COMMUNITY: Weiss Gives Ill. Bank Very Weak E Rating
HILDA GONZALEZ: Case Summary & 15 Largest Unsecured Creditors

HILEX POLY: Moody's Assigns 'B3' Corporate Family Rating
HILEX POLY: S&P Assigns Preliminary Corporate Credit Rating at 'B'
HOME FEDERAL: Weiss Gives Fla. Bank Very Weak E- Rating
HOSIAN AZIZIAN: Golden Security Bank Has $250,000 Secured Claim
HP DISTRIBUTION: Auxiers Suit Remanded to State Court

IMPERIAL CAPITAL: Opposes FDIC's $48 Million Capital Demand
INNKEEPERS USA: Midland Wants Cash Use Order Reconsidered
INNKEEPERS USA: Proposes to Assume Marriott Assurance Agreement
INTEGRITY FIRST: Weiss Gives Wisc. Bank Very Weak E Rating
KENDALL STATE: Weiss Gives Kan. Bank Very Weak E+ Rating

KENNETH ANDERSON: Reorganization Case Transferred to Utah District
KENNETH HALE: No Fees for U.S. Trustee from Loan Transfer
KENNETH JAMES EGLI: E.D. Wash. Ct. Confirms Amended Plan
KENNETH STEVENSON: Case Summary & 20 Largest Unsecured Creditors
LANDAMERICA FINANCIAL: Severance Pay Earned on Termination Date

LEGACY BANK: Weiss Gives Wisc. Bank Very Weak E- Rating
LEHMAN BROTHERS: LBIE Extends Proofs of Debt Deadline
LEHMAN BROTHERS: PwC to Appeal UK Court Ruling on Payout
LEHMAN BROTHERS: Wants to Reject Revenue Bond Contracts
LEONARD ROSS: Section 341(a) Meeting Scheduled for Nov. 8

LIBERTY MEDIA: Share Repurchase Won't Affect Moody's 'B1' Rating
LIBERTY BANK: Weiss Gives Utah Bank Very Weak E Rating
LOEHMANN'S CAPITAL: Seeks to Extend Debt Maturity to 2014
LUCKY CHASE: Court Approves FDIC-Led Auction on November 2
LUCKY CHASE: Trustee May Use Cash to Repair or Modify Property

LUDO MENSCH: Case Summary & 16 Largest Unsecured Creditors
LYDIAN PRIVATE: Weiss Gives Fla. Bank Very Weak E Rating
MAJESTIC STAR: Hearing on End of Plan Exclusivity on Sept. 28
MCHENRY SAVINGS: Weiss Gives Ill. Bank Very Weak E Rating
MCP ONTARIO: Case Summary & 8 Largest Unsecured Creditors

MEMBERS UNITED: Undercapitalized; Placed in Conservatorship
MERIDIAN PARTNERSHIP: Trustee Can Employ Brokers to Sell Assets
METRO-GOLDWYN-MAYER: Bank Debt Trades at 54% Off
MEXICANA AIRLINES: Conciliator, Administrator Appointed
MEXICANA AIRLINES: Misses Sept. 15 Payments to Airports

MEXICANA AIRLINES: Sept. 29 U.S. Court Hearing on Recognition Plea
MICHAEL IRVING: Case Summary & 7 Largest Unsecured Creditors
MICHAELS STORES: Bank Debt Trades at 4% Off in Secondary Market
MILACRON INC: Judge Aug Requires Rule 2019 Disclosure
MISSION OAKS: Weiss Gives Calif. Bank Very Weak E- Rating

MONARCH COMMUNITY: Weiss Gives Mich. Bank Very Weak E- Rating
MOREBANK: Weiss Gives Pa. Bank Very Weak E+ Rating
NORTEL NETWORKS: Ericsson Enters Pact to Acquire Switch Business
NORTH COUNTY BANK: Closed; Whidbey Island Bank Assumes Deposits
NUHI METAJ: Case Summary & 20 Largest Unsecured Creditors

NXT ENERGY: Posts C$890,700 Net Loss in June 30 Quarter
NXT NUTRITIONALS: Earns $2.3 Million in June 30 Quarter
O L DEVELOPMENT: Voluntary Chapter 11 Case Summary
OLDE PRAIRIE: Plan Provides Sale of Properties to Pay Creditors
ONE GEORGE: Weiss Gives Ga. Bank Very Weak E- Rating

OPEN SOLUTIONS: Bank Debt Trades at 17% Off in Secondary Market
OSI RESTAURANT: Bank Debt Trades at 9% Off in Secondary Market
OTC HOLDINGS: Court Grants 60-Day Extension in Schedules Filing
OTC HOLDINGS: Gets Final Approval to Obtain $40MM DIP Financing
OTC HOLDINGS: Taps Young Conaway to Handle Reorganization Case

PALI HOLDINGS: Sues to Get Lloyd's Indemnification
PANAMSAT CORP: Bank Debts Trade at 4% Off in Secondary Market
PASCUAL ACEVEDO: Specific Performance Order Stops Rejection
PEOPLES STATE: Weiss Gives Minn. Bank Very Weak E+ Rating
PENN TRAFFIC: Chapter 11 Plan Voting Deadline Fixed on October 20

PHILADELPHIA NEWSPAPERS: Lenders Win New Auction with $105MM Bid
PISGAH COMMUNITY: Weiss Gives N.C. Bank Very Weak E- Rating
PLAYERS TURF: Associated Fails to Prove Nondischargeability Claim
PRECISION OPTICS: Recurring Net Losses Cue Going Concern Doubt
PRIVATE ESCAPES: Case Summary & 20 Largest Unsecured Creditors

PROMETRIC INC: Moody's Raises Corporate Family Rating to 'B1'
PUBLIC SAVINGS: Weiss Gives Pa. Bank Very Weak E+ Rating
QUALITY BANK: Weiss Gives N.D. Bank Very Weak E Rating
RAJ RAKKAR: Case Summary & Largest Unsecured Creditor
RAY ANTHONY: Gets Court's Nod to Tap Lampl as Bankruptcy Counsel

RAYMOND BABCOCK: Voluntary Chapter 11 Case Summary
RCS BANK: Weiss Gives Mo. Bank Very Weak E- Rating
REALOGY CORP: Bank Debt Trades at 13% Off in Secondary Market
RESIDENTIAL PROPERTY: Case Summary & Creditors List
RICH CAPITOL: Court Won't Equitably Subordinate Wachovia's Claim

RITE AID: Bank Debt Trades at 11% Off in Secondary Market
ROADHOUSE FINANCING: Moody's Assigns 'B2' Corporate Family Rating
ROBERTO ALMARAZ: Case Summary & 20 Largest Unsecured Creditors
ROCK & REPUBLIC: Asks Court to Approve Exclusive Sale Talks
ROCK US: Investors Object to Prepack Chapter 11 Plan

ROCK US: Asks for OK on Bid Incentives for Purchasers of Assets
RONIELIO GARCIA: Case Summary & 20 Largest Unsecured Creditors
RUSTICK LLC: In-Court Auction Scheduled for Oct. 7
SAXBY'S COFFEE: Pa. Court Denies Confirmation of Amended Plan
SCHOLASTIC CORPORATION: Repurchase Won't Affect Moody's Ba2 Rating

SCOTTSDALE DOWNTOWN: Case Summary & 5 Largest Unsecured Creditors
SEA ISLAND: Creditors Can Vote for Ch. 11 Reorganization Plan
SECURITY STATE: Weiss Gives Iowa Bank Very Weak E Rating
SECURITY STATE: Weiss Gives Iowa Bank Very Weak E+ Rating
SEMGROUP LP: Court Declines to Subordinate Harvest's Claims

SEMGROUP LP: Former Execs to Pay $30 Million to Settle Suit
SHORE BANK: Weiss Gives Va. Bank Very Weak E+ Rating
SIX FLAGS: Receives $41-Mil. Payout From Dick Clark Stake
SOUTH COUNTY: Weiss Gives Calif. Bank Very Weak E Rating
SOUTHWEST CORPORATE: Undercapitalized; Placed in Conservatorship

SPIVEY STATE: Weiss Gives Ga. Bank Very Weak E+ Rating
SPRINGBOK SERVICES: Fifth Third Processing Purchases Firm's Assets
STATE BANK: Weiss Gives Neb. Bank Very Weak E- Rating
SUMMIT BANK: Weiss Gives Wash. Bank Very Weak E+ Rating
SUNRISE BANK: Weiss Gives Calif. Bank Very Weak E+ Rating

SUSANNE OLSEN: Chapter 15 Case Summary
TAYLOR BEAN: Submits Plan of Liquidation
THOR OLSEN: Chapter 15 Case Summary
TIDELANDS BANK: Weiss Gives S.C. Bank Very Weak E- Rating
TOD GRISWOLD: Case Summary & 10 Largest Unsecured Creditors

TPC GROUP: Moody's Affirms 'B1' Corporate Family Rating
TPC GROUP: S&P Assigns Corporate Credit Rating at 'B+'
TRANS PACIFIC: Weiss Gives Calif. Bank Very Weak E+ Rating
TREATY OAK: Weiss Gives Tex. Bank Very Weak E- Rating
TRICO MARINE: Committee Taps Kasowitz Benson as Counsel

TRIZETTO GROUP: Moody's Affirms Corporate Family Rating at 'B1'
TRUC NGUYEN: Case Summary & 20 Largest Unsecured Creditors
TRUMP ENTERTAINMENT: Hearing on Settlement Deal Set for October 5
TSO HOLDING: Chapter 15 Case Summary
UAL CORP: Bank Debt Trades at 8% Off in Secondary Market

UAL CORP: Continental & United Commit to Cleveland
ULTIMATE ESCAPES: Wants Club Holdings Barred from Tapping Members
UNION BANK: Weiss Gives Mo. Bank Very Weak E- Rating
URBAN BRANDS: Seeks Court Approval to Sell Assets Next Month
US CORRUGATED: S&P Gives Stable Outlook, Affirms 'B' Rating

VALUE CITY: Judge Rejects 10% Holdback in Professionals' Fees
VICTOR LOGAN: Case Summary & 10 Largest Unsecured Creditors
VISTEON CORP: Opens Manufacturing Facility in Russia
WALTER CLIFT: Case Summary & 10 Largest Unsecured Creditors
WASHINGTON MUTUAL: Balks at Black Horse-Led Investors' Suit

WASHINGTON MUTUAL: Denies Any Liability to Broadbill Investment
WASHINGTON MUTUAL: Says PFG's $37 Mil. Claim on Account of Equity
WAYTRONX INC: Earns $3.5 Million in June 30 Quarter
WEI CHEN: Case Summary & 15 Largest Unsecured Creditors
WEST CORP: Bank Debt Trades at 2% Off in Secondary Market

WEST FRASER: S&P Raises Corporate Credit Rating to 'BB+'
WESTERN NATIONAL: Weiss Gives Ariz. Bank Very Weak E- Rating
WILLIAM LYON: S&P Raises Rating on Senior Unsec. Notes to 'CC'
WINDSTREAM CORPORATION: Moody's Puts Ba3 Rating on $500 Mil. Notes
ZOLTAN SZAKALY: Case Summary & 17 Largest Unsecured Creditors

* Auto-Parts Deals Near Record Pace as Buyout Firms, Ross Invest
* Chief Executives Of Small Banks May Shun $30 Billion Program
* CQS Said to Plan Fund Investing in Distressed Corporate Debt

* Moody's Reports B3 Negative & Lower List Dips Below 200 Cos.

* BOND PRICING -- For Week From September 20 to 24, 2010

                            *********

53;59 1/2 TENTH: Case Summary & 2 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: 53;59 1/2 Tenth Street LP
        2350 W. Sepulveda Boulevard, Suite P
        Torrance, CA 90501

Bankruptcy Case No.: 10-50693

Chapter 11 Petition Date: September 23, 2010

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

Debtor's Counsel: Jerry A. Chad, Esq.
                  LAW OFFICES OF JERRY A. CHAD
                  P.O. Box 358
                  Topanga, CA 90290
                  Tel: (310) 739-4616
                  Fax: (310) 455-3079
                  E-mail: jerrychadjd@aol.com

Scheduled Assets: $2,925,220

Scheduled Debts: $2,223,763

A list of the Company's two largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-50693.pdf

The petition was signed by Brian Burrescia, general partner.


ABDUL HAMIDI: Case Summary & 5 Largest Unsecured Creditors
----------------------------------------------------------
Joint Debtors: Abdul W. Hamidi
               Razia Zabizda
               3400 Ashbourne Circle
               San Ramon, CA 94583

Bankruptcy Case No.: 10-70960

Chapter 11 Petition Date: September 24, 2010

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

Judge: Edward D. Jellen

Debtors' Counsel: Sandra F. Banks, Esq.
                  LAW OFFICES OF SANDRA F. BANKS
                  3941 Lincoln Avenue
                  Oakland, CA 94602
                  Tel: (510) 336-2369
                  E-mail: sandrabankslaw@yahoo.com

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

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

A list of the Joint Debtors' five largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/canb10-70960.pdf


ABTS HOLDINGS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: ABTS Holdings, LLC
        1165 State Route 27, Suite A-1011
        Somerset, NJ 08873

Bankruptcy Case No.: 10-39287

Chapter 11 Petition Date: September 22, 2010

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

Judge: Kathryn C. Ferguson

Debtor's Counsel: Lawrence Morrison, Esq.
                  110 East 59th Street, 23rd Floor
                  New York, NY 10022
                  Tel: (212-655-3582
                  Fax: (646) 514-3172
                  E-mail: morrlaw@aol.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/njb10-39287.pdf

The petition was signed by Frank Mongelluzi, president.


ADVANTAGE BANK: Weiss Gives Colo. Bank Very Weak E Rating
---------------------------------------------------------
Weiss Ratings has assigned its "very weak" E rating to Advantage
Bank based in Loveland, Colo.  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
June 30, 2010, the institution's balance sheet showed
$380.4 million in assets.


ALLIANT BANK: Weiss Gives Kan. Bank Very Weak E- Rating
-------------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to Alliant
Bank based in Segdwick, Kan.  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
June 30, 2010, the institution's balance sheet showed
$14.3 million in assets.


AMERICAN HOMEPATIENT: Shareholders Meet Oct 12 on Sale to Highland
------------------------------------------------------------------
American HomePatient, Inc., filed with the Securities and Exchange
Commission on September 20, 2010, a definitive proxy statement on
Schedule 14A relating to a special meeting of shareholders to be
held October 12.  The special meeting has been called by the
Company's board of directors for the purpose of obtaining
shareholder approval of an agreement and plan of merger dated
September 2, 2010, between the Company and AHPC Merger Co.
("Merger Sub"), a wholly owned subsidiary of the Company, pursuant
to which: (i) Merger Sub will merge with and into the Company;
(ii) the Company will become a wholly owned subsidiary of funds
managed by Highland Capital Management, L.P.; (iii) shareholders
of the Company other than Highland will be entitled to receive
$0.67 per share in cash for each share of Company common stock
owned, without interest and less any required withholding taxes;
and (iv) all outstanding options to purchase shares of Company
common stock, whether vested or unvested, will be converted into
the right to receive an amount in cash equal to the product of the
number of shares of Company common stock subject to such option
multiplied by the excess, if any, of $0.67 over the exercise price
per share of each such option, and when so converted, will
automatically be canceled and retired and will cease to exist.

Following the completion of the Company's recent self-tender
offer, Highland is the beneficial owner of approximately 78.5% of
the Company's outstanding shares of common stock.  Since Highland
has agreed to vote its shares in favor of the merger, the Company
expects that the merger agreement will be approved whether or not
shareholders vote their shares.

Upon consummation of the second-step merger, the Company will no
longer be publicly owned, the Company's shares will cease to be
quoted on the Over-the-Counter Bulletin Board, and the Company
will cease to be required to make filings with the SEC or to
comply with the SEC rules relating to public companies.

A full-text copy of the Proxy Statement is available for free at:

               http://researcharchives.com/t/s?6ba5

                    About American HomePatient

Brentwood, Tenn.-based American HomePatient, Inc. (OTC BB: AHOM)
claims to be one of the nation's largest home health care
providers with operations in 33 states.  Its product and service
offerings include respiratory services, infusion therapy,
parenteral and enteral nutrition, and medical equipment for
patients in their home.

The Company's balance sheet at June 30, 2010, showed
$240.7 million in total assets, $274.4 million in total
liabilities, and a stockholders' deficit of $33.7 million.

As reported in the Troubled Company Reporter on March 8, 2010,
KPMG LLP, in Nashville, Tennessee, expressed substantial doubt
about the Company's ability to continue as a going concern,
following its 2009 results.  The independent auditors noted that
at December 31, 2009, the Company had a net capital deficiency and
had a net working capital deficiency resulting from $226.4 million
of debt that matured on August 1, 2009.


AMERICAN INT'L: Sees $2-Bil. FY2010 Operating Profit for AIA Unit
-----------------------------------------------------------------
Dow Jones Newswires' Erik Holm reports that American International
Group Inc. said it expects its AIA Group Ltd. life-insurance
business will likely have an operating profit of at least $2
billion in the fiscal year ending Nov. 30.  Dow Jones relates
premium income at AIA, which AIG plans to list on the Hong Kong
stock exchange in October, increased by 11% in the first nine
months of the year to $9.3 billion, according to an unaudited
accounting released by AIG on Saturday. The increase was driven by
growth in Thailand and South Korea.

According to Dow Jones, pre-marketing of the IPO is scheduled to
begin on Monday.  The stock offering is expected to be priced on
Oct. 21.  One person familiar with the deal said earlier that AIG
was considering selling as much as 50% of AIA, but that no
decision had been made.

Dow Jones reports that AIG released the latest profit estimate and
updated results after it first provided the information to
analysts in Hong Kong, according to an AIG statement Saturday.
AIA's largest markets are Hong Kong, Thailand, Singapore and
Malaysia.  The figures released Saturday may not compare exactly
to previously announced results released in the U.S. AIG cautioned
in its statement that the data corresponded with international
financial reporting standards, which differ from U.S. guidelines.

As reported by the Troubled Company Reporter on September 24,
2010, The Wall Street Journal's Nisha Gopalan said AIG received
approval in Hong Kong for a US$10 billion to US$15 billion initial
public offering of AIA.  According to the Journal, one person
familiar with the deal said Tuesday that AIG was considering
selling as much as 50% of AIA, but no decision had been made.

AIA's IPO has 11 bookrunners, people familiar with the matter have
said, according to the Journal.  That is a record, according to
Dealogic, and indicates AIG is determined to raise as much money
as possible.  Agricultural Bank of China had 10 bookrunners for
its offering.

According to the Journal, the bookrunners on AIA's IPO are:
Barclays Capital, the investment-banking arm of Barclays PLC; J.P.
Morgan Chase & Co.; Malaysian financial-services firm CIMB Group
Holdings Bhd.; Citigroup Inc.; Goldman Sachs Group Inc.; Morgan
Stanley; Deutsche Bank AG; Bank of America Corp.'s Bank of America
Merrill Lynch; Credit Suisse Group; UBS AG; and the investment-
banking arm of ICBC, ICBC International Holdings Ltd. Bookrunners
help banks in charge of the sale, known as global coordinators, to
sell the shares to investors.

Citigroup, Goldman, Morgan Stanley and Deutsche Bank are the
global coordinators, people familiar with the matter previously
said, according to the Journal.

                             About AIG

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

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

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


ARINC INC: S&P Raises Corporate Credit Rating to 'BB-'
------------------------------------------------------
Standard & Poor's Ratings Services said that it has raised its
corporate credit rating on Annapolis, Md.-based ARINC Inc. to
'BB-' from 'B'.  At the same time, S&P raised the issue level
rating on the company's first-lien secured debt to 'BB' from 'B+',
while maintaining the '2' recovery rating.  S&P also raised the
issue level rating on the firm's second-lien secured debt to 'B'
from 'CCC+', while maintaining the '6' recovery rating.  The
outlook is stable.

"The upgrade reflects ARINC's improving credit protection measures
stemming from lower debt levels and higher earnings over the past
year," said Standard & Poor's credit analyst Christopher DeNicolo.
"The rating also incorporates the company's participation in the
competitive and cyclical aviation services market, leading
positions in its niche markets, modest size compared with
competitors, aggressive financial policy, and adequate
profitability.  S&P assess the firm's business risk profile as
fair and financial risk profile as aggressive."

The Carlyle Group acquired ARINC in October 2007, using a
combination of debt and equity.  Although debt to capital
increased modestly -- to about 75% from 70%, benefiting from the
sizable equity contribution -- lease-adjusted debt to EBITDA
increased to almost 7x in 2007 from about 3.5x in 2006.  Since
then, good earnings growth and lower debt levels due to the
repayment of some first-lien term debt (purchased at a price well
below par) have resulted in debt to EBITDA of 4x, funds from
operations to total debt around 15%, EBITDA interest coverage of
more than 3.5x, and debt to capital of 70%.  Although revenues are
likely to decline modestly in 2010 due to a reduction in work on a
large helicopter project that ends in 2011, S&P expects earnings
to continue to improve and revenue growth should resume in 2011
with the recovering commercial aviation markets and steady defense
demand.  Therefore, S&P expects earnings growth and debt repayment
with excess cash flows to result in steadily improving credit
protection measures in 2011 with debt to EBITDA declining to 3x-
3.5x and FFO to total debt around 20%.  The company does not
report its financial results publicly.

The outlook is stable.  Steady demand in the defense business, a
recovery in the commercial aviation markets, and acceptable
operating performance should continue to result in growing
revenues and earnings over the next 12-24 months.  In addition,
S&P expects the company to continue to pay down debt with free
cash flow.  It's unlikely that S&P will raise the ratings due to
the company's ownership by a private equity firm and the potential
for a debt-financed dividend or other transaction that could
result in much higher leverage.  "S&P could lower the ratings if a
large debt-financed acquisition or dividend results in debt to
EBITDA increasing to above 4x and FFO to debt declining to the
low-teens percentage area," Mr. DeNicolo added.


ARROW AIR: JW Acquisitions Buys Airline for $800,000
----------------------------------------------------
Arrow Air Inc. has been sold to JW Acquisitions Inc. for $800,000,
according to Bankruptcy Law360.

                           About Arrow Air

Miami, Florida-based Arrow Air, Inc., provides scheduled and
charter cargo logistics services between the United States,
Central and South America, and the Caribbean.  The Company is a
wholly owned subsidiary of Arrow Air Holdings Corp., which is 95%
owned by an affiliate of MatlinPatterson Global Opportunities
Partners III.

Arrow Air, Inc., dba Arrow Cargo, filed for Chapter 11 bankruptcy
protection on June 30, 2010 (Bankr. S.D. Fla. Case No. 10-28831).
Jordi Guso, Esq., in Miami, Florida, represents the Debtor in its
restructuring effort.

The Chapter 11 case is Arrow's third.  Arrow halted operations the
day before the Chapter 11 filing.  Arrow Air intends to liquidate
under Chapter 11.

In its schedules, Arrow Air, Inc., disclosed $40,246,024 in assets
and $87,212,942 in debts.


ATLANTIC BANK: Weiss Gives S.C. Bank Very Weak E- Rating
--------------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to Atlantic
Bank & Trust based in Charleston, S.C.  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
June 30, 2010, the institution's balance sheet showed
$270.6 million in assets.


BAILEYSVILLE STATE: Weiss Gives Kan. Bank Very Weak E+ Rating
-------------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to
Baileysville State Bank based in Seneca, Kan.  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
June 30, 2010, the institution's balance sheet showed
$37.4 million in assets.


BANK 360: Weiss Gives S.D. Bank Very Weak E+ Rating
---------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Bank 360
based in Beresford, S.D.  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
June 30, 2010, the institution's balance sheet showed
$50.8 million in assets.


BANK MIDWEST: Weiss Gives Mo. Bank Very Weak E Rating
-----------------------------------------------------
Weiss Ratings has assigned its "very weak" E rating to Bank
Midwest, N.A. based in Kansas City, Mo.  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
June 30, 2010, the institution's balance sheet showed $4.1 billion
in assets.


BANK OF ASHEVILLE: Weiss Gives N.C. Bank Very Weak E- Rating
------------------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to Bank of
Asheville based in Asheville, N.C.  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
June 30, 2010, the institution's balance sheet showed
$213.9 million in assets.


BANK OF GRANITE: Receives NASDAQ Notice
---------------------------------------
Bank of Granite Corporation received a letter from The NASDAQ
Stock Market notifying the Company that, because the bid price for
its stock has fallen below $1.00 per share, it no longer complies
with the minimum bid price requirement for continued listing on
The NASDAQ Global Select Market.  Rule 5450(a)(1) of NASDAQ's
Listing Rules requires a minimum bid price of $1.00 per share.
Based on the closing bid price of the Company's common stock for
the 30 consecutive business days prior to the date of NASDAQ's
letter, the Company does not meet this requirement.

The notification does not result in the immediate delisting of the
Company's common shares from The NASDAQ Global Select Market. In
accordance with NASDAQ Listing Rules, the Company has a 180 day
grace period until March 21, 2011 to regain compliance with the
minimum closing bid price requirement.  To regain compliance, the
closing bid price of the Company's common shares must meet or
exceed $1.00 per share for at least ten consecutive business days
prior to March 21, 2011.

If the Company does not regain compliance by March 21, 2011,
NASDAQ will provide written notification of the delisting of the
Company's shares.  At that time, the Company may appeal NASDAQ's
delisting determination to a NASDAQ Hearing Panel.  Alternatively,
the Company may be eligible for an additional grace period if it
applies to transfer the listing of its common shares to The NASDAQ
Capital Market and satisfies all criteria for initial listing on
The NASDAQ Capital Market other than the minimum bid price
requirement.

The Company is considering actions that it may take in response to
this notification in order to regain compliance with the continued
listing requirements, but no decisions about a response have been
made at this time.

Bank of Granite Corporation's common stock trades on The NASDAQ
Global Select Market under the symbol "GRAN." Bank of Granite
Corporation is the parent company of Bank of Granite.  Bank of
Granite operates twenty full-service banking offices in eight
North Carolina counties -- Burke, Caldwell, Catawba, Forsyth,
Iredell, Mecklenburg, Watauga, and Wilkes.


BANK OF NAPLES: Weiss Gives Fla. Bank Very Weak E+ Rating
---------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Bank of
Naples based in Naples, Fla.  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
June 30, 2010, the institution's balance sheet showed
$220.8 million in assets.


BANK OF WHITMAN: Weiss Gives Wash. Bank Very Weak E- Rating
-----------------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to Bank of
Whitman based in Colfax, Wash.  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
June 30, 2010, the institution's balance sheet showed
$744.8 million in assets.


BASS RIVER: Case Summary & 2 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Bass River Properties, LLC
        P.O. Box 352
        Clayton, GA 30525

Bankruptcy Case No.: 10-24272

Chapter 11 Petition Date: September 23, 2010

Court: U.S. Bankruptcy Court
       Northern District of Georgia (Gainesville)

Debtor's Counsel: Cameron M. McCord, Esq.
                  JONES & WALDEN, LLC
                  21 Eighth Street, NE
                  Atlanta, GA 30309
                  Tel: (404) 564-9300
                  Fax: (404) 564-9301
                  E-mail: cmccord@joneswalden.com

Scheduled Assets: 4,007,013

Scheduled Debts: $3,866,041

A list of the Company's two largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ganb10-24272.pdf

The petition was signed by Wayne Nesmith, owner/manager.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Dennis Wayne and Catherine Brown
Nesmith                              10-24270            09/23/10


BAYONNE HOSPITAL: Liquidating Trustee Recover More than $12MM
-------------------------------------------------------------
The liquidating trustee and estate representative of Bayonne
Medical Center, Allen D. Wilen, successfully recovered more than
$12 million for both secured and unsecured creditors and parties
in interest.

Mr. Wilen, a restructuring and bankruptcy partner with EisnerAmper
LLP, was appointed liquidating trustee and estate representative
through the confirmation of a chapter 11 plan of reorganization in
April 2009. Since that time, Mr. Wilen has pursued preference and
fraudulent conveyance claims, claims against the former trustees
and officers of BMC and claims against BMC's former auditors.  The
claims against the former trustees and officers were based on
breaches of fiduciary duties and negligence while the claims
against the former auditor were based on professional negligence.

Mr. Wilen utilized a deepening insolvency measure of damages in
these claims.  The claims against the former trustees and officers
and claims against the former auditor resulted in settlements in
excess of $10 million.  Mr. Wilen worked closely with Sills Cummis
& Gross' attorneys, Andrew H. Sherman, Philip R. White and Boris
I. Mankovetskiy, in pursuing these claims.

Sills Cummis & Gross is a full-service corporate law firm with
over 155 attorneys in New Jersey and New York.  The Firm's work is
diversified among industries such as pharmaceutical and medical
device, health care, life sciences, banking and finance, retail
and commercial real estate, manufacturing, technology and
telecommunications.

EisnerAmper is the 14th largest accounting firm in the United
States and has offices in eleven locations along the New York/New
Jersey/Philadelphia corridor and in the Cayman Islands.

                      About Bayonne Hospital Center

Established in 1888, Bayonne Hospital Center --
http://www.BayonneMedicalCenter.org/-- operated a 278-bed, fully
accredited, award-winning acute-care hospital located in Hudson
County, N.J.  Bayonne Medical Center sought Chapter 11 protection
(Bankr. D. N.J. Case No. 07-15195) April 16, 2007.  Lawrence C.
Gottlieb, Esq., Adam C. Rogoff, Esq., and Eric J. Haber, Esq., at
Cooley Godward Kronish LLP, represent the Debtor in its
restructuring efforts.  Stephen V. Falanga, Esq., at Connell Foley
LLP, is the Debtor's local counsel.  Kurtzman Carson Consultants
LLC is the Debtor's claims and noticing agent.  Andrew H. Sherman,
Esq., and Boris I. Mankovetskiy, Esq., at Sills Cummis Epstein &
Gross PC, represent the Official Committee of Unsecured Creditors.
When the Debtor filed for protection from its creditors, it
estimated assets and debts of less than $100 million.  The
Bankruptcy Court approved the sale of the hospital for $41.5
million, consisting of $100,000 in cash, assumption of $7 million
owed to one secured creditor, and assumption of other pre- and
post-bankruptcy obligations.  The Debtor filed its first amended
joint plan of liquidation on Feb. 23, 2009, and the Bankruptcy
Court confirmed the plan on Apr. 9, 2009.


BION ENVIRONMENTAL: GHP Horwath Raises Going Concern Doubt
----------------------------------------------------------
Bion Environmental Technologies, Inc., filed on September 21,
2010, its annual report on Form 10-K for the fiscal year ended
June 30, 2010.

GHP Horwath, P.C., in Denver, Colo., expressed substantial doubt
about the Company's ability to continue as a going concern.  The
independent auditors noted that the Company has not generated
revenue and has suffered recurring losses from operations.

The Company reported a net loss of $3.0 million for fiscal 2010,
compared to a net loss of $1.3 million for fiscal 2009.

The Company has not recorded any revenue from operations for
either of the years ended June 30, 2010, or June 30, 2009.  As of
June 30, 2010, the Company had cash and cash equivalents of
approximately $1.0 million.  During the year ended June 30, 2010,
net cash used in operating activities was $2.1 million, primarily
consisting of cash operating expenses.  The Company does not
anticipate generating sufficient revenues to offset operating and
capital costs for a minimum of two to five years.

The Company's balance sheet at June 30, 2010, showed $2.0 million
in total assets, $909,916 in total liabilities, $2.5 million in
redeemable convertible preferred stock, and a stockholders'
deficit of $1.4 million.

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

               http://researcharchives.com/t/s?6b8f

                     About Bion Environmental

Crestone, Colo.-based Bion Environmental Technologies, Inc.
(OTC BB: BNET) has provided environmental treatment solutions to
the agriculture and livestock industry since 1990.  Bion's
patented next-generation technology provides a unique
comprehensive treatment of livestock waste that achieves
substantial reductions in nitrogen and phosphorus, ammonia,
greenhouse and other gases, as well as pathogens, hormones,
herbicides and pesticides.


BLAST ENERGY: Closes Purchase of Sugar Valley Field in Matagorda
----------------------------------------------------------------
In a regulatory filing Thursday, Blast Energy Services, Inc.,
disclosed that on September 9, 2010, it entered into an 'Agreement
to Purchase Sugar Valley Interest' with Sun Resources Texas, Inc.,
a privately-held company based in Longview, Texas to acquire (a)
Sun's oil and gas interests in the Sugar Valley Field located in
Matagorda County, Texas, encompassing approximately 217 total
acres, and including an approximately 66% working interest in
three wells currently producing a total of approximately 43 gross
barrels per day with an estimate of more than 60,000 barrels of
net in recoverable reserves to Blast, and (b) certain surface and
production equipment related to the leases.  The closing of the
acquisition of the Property occurred on September 21, 2010.

Under the terms of the Sun Agreement, Blast agreed to provide Sun
the following consideration for Sun's interest in the Property:

a) A cash payment of $600,000, which Blast paid on September 20,
   2010;

b) A promissory note for $300,000, which note does not accrue
   interest, and is payable at a rate of $10,000 per month
   commencing October 31, 2010, with the final balance payable in
   full on or before October 8, 2011, secured by a deed of trust,
   providing Sun a security interest in the Property, which Note
   has been issued to date; and

c) 6,000,000 shares of restricted common stock, valued at
   $300,000, which have been issued to the shareholders of Sun,
   based upon the $0.05 per share closing market price of Blast's
   common stock on the Over-The-Counter Bulletin Board on the day
   the Sun Agreement was signed.

Pursuant to the Sun Agreement, Sun is to manage and operate the
Property after Closing until such time as the Note is repaid in
full.  Upon the repayment of the Note, Blast and Sun may mutually
agree to enter into a joint operating agreement in connection with
the management and operation of the Property.  Blast also agreed
that Sun would retain a one percent of 8/8ths working interest in
the Property as long as Sun serves as the operator of the
Property.

Blast funded the initial cash portion of the acquisition from a
portion of the $1.4 million in funds, net of attorney's fees,
which Blast received from Quicksilver Resources, on or around
September 20, 2010, in connection with the Compromise Settlement
and Release Agreement entered into with Quicksilver in
September 2008.  The monthly payments toward the Note are expected
to be paid from a portion of the net operating cash flow generated
by the Property.  The balloon payment on the Note is expected to
be paid from a portion of the fourth and final Quicksilver
settlement payment of a net $1.4 million due in September 2011.

                        About Blast Energy

Based in Houston, Blast Energy Services, Inc. is an emerging
technology company in the energy sector and strives to assist oil
and gas companies in producing more economically.

The Company's balance sheet at June 30, 2010, showed $4.1 million
in total assets, $1.9 million in total liabilities, and
stockholders' equity of $2.2 million.

                          *     *     *

As reported in the Troubled Company Reporter on April 5, 2010,
GBH CPAs, PC, in Houston, expressed substantial doubt about the
Company's ability to continue as a going concern, following its
2009 results.  The independent auditors noted that the Company
incurred a loss from continuing operations for the year ended
December 31, 2009, and has an accumulated deficit at December 31,
2009.


BLAST ENERGY: Posts $202,184 Net Loss in June 30 Quarter
--------------------------------------------------------
Blast Energy Services, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $202,184 on $69,623 of revenue for
the three months ended June 30, 2010, compared to a net loss of
$593,682 on $84,319 of revenue for the same period last year.

The Company has an accumulated deficit of $73 million as of
June 30, 210.  The cash balance of $22,638 as of June 30, 2010 is
not sufficient to fund the Company's operations for the next
twelve months.

The Company's balance sheet at June 30, 2010, showed $4.1 million
in total assets, $1.9 million in total liabilities, and
stockholders' equity of $2.2 million.

As reported in the Troubled Company Reporter on April 5, 2010,
GBH CPAs, PC, in Houston, expressed substantial doubt about the
Company's ability to continue as a going concern, following its
2009 results.  The independent auditors noted that the Company
incurred a loss from continuing operations for the year ended
December 31, 2009, and has an accumulated deficit at December 31,
2009.

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

                  http://researcharchives.com/t/s?6b95

                        About Blast Energy

Based in Houston, Blast Energy Services, Inc. is an emerging
technology company in the energy sector and strives to assist oil
and gas companies in producing more economically.


BLOCKBUSTER INC: Fitch Downgrades Issuer Default Rating to 'D'
--------------------------------------------------------------
Fitch Ratings has downgraded the Issuer Default Rating of
Blockbuster Inc. to 'D' from 'RD' and has withdrawn the ratings on
Blockbuster's $630 million senior secured notes and $300 million
senior subordinated notes.  Fitch expects to withdraw its IDR on
Blockbuster within 30 days.

The downgrade of the IDR to 'D' or 'Default' and the withdrawal of
the security ratings follow Blockbuster's Chapter 11 bankruptcy
filing.  Under the terms of the proposed reorganization plan, the
company's 11.75% senior secured note will be exchanged for equity
of a reorganized Blockbuster.  The company's plan anticipates that
there will be no recovery by the holders of the $300 million
senior subordinated notes.  The only debt expected to remain on
the company's balance sheet upon its emergence from Chapter 11
under the proposed plan will be the amounts drawn under the
$125 million debtor-in-possession financing that the company has
secured from the senior noteholders, which will convert to an exit
loan facility upon consummation of the plan, and a new exit
revolving credit facility of up to $50 million.  The
recapitalization plan would substantially reduce the company's
nearly $1 billion of debt.  Blockbuster also announced plans to
continue operating its current 3,000 stores, although the company
will evaluate its U.S. store portfolio with potential store
closings expected.

Fitch has taken these rating actions:

Blockbuster Inc.

  -- Long-term IDR downgraded to 'D' from 'RD';
  -- $630 million senior secured notes 'C/RR4' withdrawn;
  -- $300 million senior subordinated notes 'C/RR6' withdrawn.


BLOCKBUSTER INC: Moody's Downgrades Default Rating to 'D'
---------------------------------------------------------
Moody's Investors Service downgraded Blockbuster, Inc.'s
Probability of Default Rating to D from Ca/LD.  The downgrade was
prompted by Blockbuster's September 23, 2010 announcement that it
entered Chapter 11 in the United States Bankruptcy Court.

                         Ratings Rationale

Subsequent to the actions, Moody's will withdraw the ratings
because Blockbuster has entered bankruptcy.

This rating was downgraded and will be withdrawn:

* Probability of Default Rating to D from Ca/LD

These ratings will be withdrawn:

* Corporate Family Rating at Ca
* Probability of Default Rating at D
* Senior secured notes at Caa1 (LGD 2, 19%)
* Senior subordinated notes at C (LGD 5, 79%)

Blockbuster Inc. provides in-home movie and game entertainment
through several channels including; its store base, website,
digital download, and vending kiosks.  Blockbuster's approximately
5,800 stores are located throughout the United States, its
territories, and 16 other countries.  Annual revenues are about
$3.7 billion.


BOSTON GENERATING: Secured Lenders Want Sale Documents
------------------------------------------------------
Secured lenders CarVal Investors, LLC, and Fortress Investment
Group LLC, ask the U.S. Bankruptcy Court for the Southern District
of New York to adjourn the hearing scheduled for September 27,
2010, to consider Boston Generating, LLC, et al.'s request to sell
substantially all of their assets.  The Lenders explained that the
Debtors refused to cooperate with them and failed to provide them
with access to important information.  The Lenders requested that
the hearing be adjourned until the Debtors produce the information
requested.

Boston Generating, LLC and its affiliates want to sell their
business to Constellation Holdings, Inc., for $1.1 billion, absent
higher and better offers for the assets.

They propose that:

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

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

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

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

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

A copy of the APA and proposed bidding procedures is available for
free at http://ResearchArchives.com/t/s?69df

                       About Boston Generating

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

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

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

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


SUMMIT BRANTLEY: To Present Plan for Confirmation on Nov. 3
-----------------------------------------------------------
JacksonSun.com reports that a federal bankruptcy judge approved
the disclosure statement describing the restructuring plan of
Summit Brantley Building Innovations.

The bankruptcy court will confirm a hearing to consider
confirmation of the Plan on November 3.

According to JacksonSun, under the Plan, creditors are expected to
receive only part of what is owed to them.  Former workers, on the
other hand, will be paid in full in cash within 30 days of
confirmation of the plan, or on Dec. 31, whichever is later.

Summit Brantley Building Innovations filed for Chapter 11
bankruptcy protection in the U.S. Bankruptcy Court for the Western
District of Tennessee on January 22, 2010 (Bankr. W.D. Tenn. Case
No. 10-10234).  The Company disclosed $811,190 in assets and
$1,238,558 in liabilities in its schedules.


BREITBURN ENERGY: Moody's Assigns 'B1' Corporate Family Rating
--------------------------------------------------------------
Moody's Investors Service assigned BreitBurn Energy Partners L.P.
a B1 Corporate Family Rating and a B3 rating to its proposed
offering of $250 million of senior notes due 2020.  Moody's also
assigned a SGL-3 Speculative Grade Liquidity rating to BreitBurn.
The rating outlook is stable.

                         Ratings Rationale

"BreitBurn's durable property base, balanced exposure to oil and
natural gas and relatively low leverage on reserves supports its
B1 rating," stated Pete Speer, Moody's Vice President.  "However,
the rating also reflects the partnership's small production scale
and its distribution burden to its common unit holders."

The partnership's property base is anchored by its Antrim Shale
holdings in Michigan, which produces primarily natural gas and
accounted for approximately 68% of total proved reserves at
December 31, 2009.  This proved reserve concentration is moderated
by production from long lived oil producing properties located in
California, Wyoming and Florida.  In the second quarter of 2010,
BreitBurn's production was 49% oil.  The durability of this
property base was demonstrated in 2009 when the partnership
significantly reduced capital expenditures with only a modest
decline in production.  The partnership's leverage on proved
reserves is also lower than all B1 rated peers.

These strengths are tempered by BreitBurn being a master limited
partnership that accordingly distributes a high proportion of its
operating cash flow.  The partnership also has relatively modest
production volumes, which at around 18,500 boepd is among the
smallest of all B1 and B2 rated independent exploration and
production companies.  BreitBurn's leverage as measured on
production volumes is correspondingly high.

The SGL-3 rating is based on Moody's expectation that BreitBurn
will have adequate liquidity over the next twelve months.  The
proceeds of the senior notes offering will be used to repay
borrowings under the partnership's senior secured revolving credit
facility.  Pro forma for the offering and the corresponding
reduction to the borrowing base, BreitBurn would have had
approximately $380 million of availability on its revolver at
June 30, 2010.  The partnership's revenues are supported by a
policy of consistently hedging a high proportion of production,
which provides predictability to its cash flows, supports the
borrowing base for its revolver, and should maintain adequate
headroom under the debt covenants.  Moody's expect this revolver
availability to be more than adequate to fund the forecasted
negative free cash flow over the remainder of 2010 and first half
of 2011.

The B3 senior unsecured notes rating reflects both the overall
probability of default of BreitBurn, to which Moody's assigns a
PDR of B1, and a loss given default of LGD 5 (87%).  The proposed
senior notes are unsecured and guaranteed by the restricted
subsidiaries on a senior unsecured basis.  The revolving credit
facility will have an estimated borrowing base of $673 million and
a senior secured claim to substantially all of the company's
assets.  The size of the credit facility's potential priority
claim in comparison to the senior notes results in the notes being
rated two notches beneath BreitBurn's B1 CFR, in accordance with
Moody's Loss Given Default Methodology.

BreitBurn Energy Partners L.P. is an independent exploration and
production master limited partnership headquartered in Los
Angeles, California.


CANTON STATE: Weiss Gives Mo. Bank Very Weak E Rating
-----------------------------------------------------
Weiss Ratings has assigned its "very weak" E rating to Canton
State Bank based in Canton, Mo.  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
June 30, 2010, the institution's balance sheet showed
$34.1 million in assets.


CAROLINA FIRST: Weiss Gives S.C. Bank Very Weak E+ Rating
---------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Carolina
First Bank based in Greenville, S.C.  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
June 30, 2010, the institution's balance sheet showed
$11.5 billion in assets.


CARVER STATE: Weiss Gives Ga. Bank Very Weak E- Rating
------------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to Carver
State Bank based in Savannah, Ga.  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
June 30, 2010, the institution's balance sheet showed
$41.7 million in assets.


CBGB HOLDINGS: Guitar Hero Deal Okayed; Deal Proceeds in Escrow
---------------------------------------------------------------
Jacqueline Palank, writing for Dow Jones' Daily Bankruptcy Review,
reports that Judge Stuart M. Bernstein of the U.S. Bankruptcy
Court in Manhattan on Thursday signed off on a licensing agreement
between CBGB Holdings LLC and game developer Activision that
allows the CBGB stage -- which, during 30-some years a punk-rock
music club, hosted the likes of Blondie and the Ramones -- to
appear as one of the venues on Guitar Hero.

CBGB Holdings stands to receive a $30,000 flat fee in exchange for
the game's use of its name, an asset it purchased not long after
the club's closure and the death of founder Hilly Kristal.

CBGB Holdings filed for Chapter 11 protection amid a dispute with
the Kristal estate over a $2.4 million note as well as the fate of
the purchased assets, which the estate has accused CBGB Holdings
of squandering.

The estate didn't oppose the Guitar Hero licensing agreement but
held that the deal offers "minimal economic benefit."

"Unfortunately, the agreement is a perfect example of the type of
business the debtor has engaged in since acquiring the Kristal
estate's assets over two years ago -- it has minimal economic
value and has only a highly-speculative chance of enhancing and
raising the profile of the CBGB brand," the estate said in court
papers earlier this month, according to Ms. Palank.

"While the Kristal estate does not have an issue with the
agreement per se, it questions the value or necessity of the
agreement to the debtor which has to restructure millions of
dollars in obligations, and propose a viable business plan in
order to exit Chapter 11."

DBR further relates that the estate also claims that in light of
CBGB Holdings' default on a promissory note it purchased from the
company, it's now the owner of the intellectual property that's at
the heart of the licensing agreement.  Should the bankruptcy court
take its side, the estate said it would be entitled to the
proceeds of the licensing agreement, not CBGB Holdings.

According to DBR, with that issue yet to be worked out, the
Kristal estate asked the licensing payments be set aside.  Judge
Bernstein ordered CBGB Holdings to set aside the licensing fees it
receives under the Guitar Hero agreement and forbade the company
from spending those fees without his permission.

                        About CBGB Holdings

CBGB Holdings LLC purchased the name and copyrights associated
with Manhattan's legendary punk-rock club CBGB in 2008.  CBGB
Holdings filed for bankruptcy on June 11, 2010 (Bankr. S.D.N.Y.
Case No. 10-13130).  Judge Stuart M. Bernstein presides over the
case.  Kenneth A. Reynolds, Esq., at McBreen & Kopko, in Jericho,
New York, serves as the Debtor's counsel.  The petition listed
$1 million to $10 million in assets and debts.


CCGI HOLDING: S&P Assigns Corporate Credit Rating at 'B-'
---------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its
preliminary 'B-' corporate credit rating to CCGI Holding Corp.  At
the same time, S&P assigned a preliminary 'B-' issue rating and
'4' preliminary recovery rating to the proposed $250 million term
loan B and $25 million revolving credit facility to be issued by
co-borrowers MegaPath Inc. and Covad Communications Group Inc.
The '4' recovery rating indicates prospects for average (30%-50%)
recovery in the event of a payment default.

CCGI is a telecom provider that will result from the combination
of Covad, MegaPath, and Speakeasy.  The company intends to use
proceeds from the term loan, conversion of $46 million of
subordinated debt into preferred stock, and approximately
$13.1 million of cash on hand to fund the $24 million cash
consideration for Speakeasy, as well as repay nearly $255 million
of total debt, including debt at MegaPath and Covad.  The outlook
is stable.

The ratings on CCGI reflect the highly competitive nature of the
telecom sector that the company serves and a potential lack of a
defensible long-term competitive position.

"The company also faces potential integration risks, including the
challenge of combining three separate billing systems, which, in
S&P's view, could prompt customer service issues and accelerate
churn, the latter of which is an ongoing challenge for all
companies in this space," said Standard & Poor's credit analyst
Catherine Cosentino.

"Despite these risks," added Ms. Cosentino, "S&P believes the
company has potential upside to its operating cash flows through
2011 from significant targeted cost synergies associated with the
combination." Even though S&P has not assumed full realization of
the company's targeted $43.6 million in cost synergies, S&P does
assume the company will improve leverage from around the mid-9x
area S&P expects for 2010 on a pro forma basis.  That figure
includes S&P's adjustment to treat 100% of the preferred as debt
(around 4x, excluding the preferred) to around the low-8x area by
2012 (around 3x without preferred).  S&P also assume the company
will improve its EBITDA margin from nearly 13% that S&P expects
for 2010 to nearly 14% by 2012.


CENTAUR LLC: Jr. Lenders Try to Block Credit Suisse Foreclosure
---------------------------------------------------------------
Bankruptcy Law360 reports that Wells Fargo Bank NA and other
junior lenders in Centaur LLC's bankruptcy are trying to block to
a move by Credit Suisse Group AG to foreclose on more than
$50 million in assets associated with Valley View Downs, an
aborted casino project in western Pennsylvania.

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

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

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


CF BANK: Weiss Gives Ohio Bank Very Weak E- Rating
--------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to CF Bank
based in Fairlawn, Ohio  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
June 30, 2010, the institution's balance sheet showed
$273.3 million in assets.


CHAMPION ENTERPRISES: Files Joint Plan of Liquidation
-----------------------------------------------------
BankruptcyData.com reports that Champion Enterprises filed with
the U.S. Bankruptcy Court a Joint Plan of Liquidation and related
Disclosure Statement.

BData says the Plan provides for the payment of administrative
claims and priority claims and the creation of a creditor trust
that will administer and liquidate certain litigation claims for
the benefit of general unsecured creditors.  The Plan further
provides for the substantive consolidation of all of the Debtors
except CEI Liquidation Estate (formerly known as Champion
Enterprises), for voting and distribution purposes, the
termination of all equity interests in the Debtors, and the
dissolution and winding up of the Debtors' affairs.

A hearing to consider the Disclosure Statement is scheduled for
October 26, 2010.

                  About Champion Enterprises, Inc.

Troy, Michigan-based Champion Enterprises, Inc., and its
subsidiaries are international manufacturers of factory-built
homes and steel-framed modular buildings, with operations in the
United States, Canada and the United Kingdom.  Buildings
constructed by Champion and its subsidiaries consist of both
single and multi-module units designed for either commercial or
residential purposes.  Champion products range from single-module
HUD-Code homes to sophisticated commercial structures such as
hotels.

The Company filed for Chapter 11 protection on November 15, 2009
(Bankr. D. Del. Case No. 09-14019).  The Company's affiliates also
filed separate bankruptcy petitions.  James E. O'Neill, Esq.,
Laura Davis Jones, Esq., Mark M. Billion, Esq., Timothy P. Cairns,
Esq., at Pachulski Stang Ziehl & Jones LLP, assist Champion in its
restructuring effort.  The Company disclosed $576,527,000 in asset
and $521,337,000 in liabilities as of October 3, 2009.


CIRCUIT CITY: Workers Want Class Status on WARN Claim
-----------------------------------------------------
Bankruptcy Law360 reports that Circuit City Stores Inc. employees
alleging violations of the Worker Adjustment and Retraining
Notification Act are fighting to be treated as a class in the
Company's bankruptcy case, saying there is no reason for
individual members to each file their own claims.

                          About Circuit City

Headquartered in Richmond, Virginia, Circuit City Stores Inc.
(NYSE: CC) -- http://www.circuitcity.com/-- was a specialty
retailer of consumer electronics, home office products,
entertainment software and related services in the U.S. and
Canada.

Circuit City Stores together with 17 affiliates filed a voluntary
petition for relief under Chapter 11 of the Bankruptcy Code on
November 10, 2008 (Bankr. E.D. Va. Lead Case No. 08-35653).
InterTAN Canada, Ltd., which runs Circuit City's Canadian
operations, also sought protection under the Companies' Creditors
Arrangement Act in Canada.

Gregg M. Galardi, Esq., and Ian S. Fredericks, Esq., at Skadden,
Arps, Slate, Meagher & Flom, LLP, are the Debtors' general
restructuring counsel.  Dion W. Hayes, Esq., and Douglas M. Foley,
Esq., at McGuireWoods LLP, are the Debtors' local counsel.  The
Debtors also tapped Kirkland & Ellis LLP as special financing
counsel; Wilmer, Cutler, Pickering, Hale and Dorr, LLP, as special
securities counsel; and FTI Consulting, Inc., and Rotschild Inc.
as financial advisors.  The Debtors' Canadian general
restructuring counsel is Osler, Hoskin & Harcourt LLP.  Kurtzman
Carson Consultants LLC is the Debtors' claims and voting agent.
The Debtors disclosed total assets of $3,400,080,000 and debts of
$2,323,328,000 as of August 31, 2008.

Circuit City has opted to liquidate its 721 stores.  It has
obtained the Bankruptcy Court's approval to pursue going-out-of-
business sales, and sell its store leases.

In May 2009, Systemax Inc., a multi-channel retailer of computers,
electronics, and industrial products, acquired certain assets,
including the name Circuit City, from the Debtors through a Court-
approved auction.


CITIZENS BANK: Weiss Gives Tenn. Bank Very Weak E- Rating
---------------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to Citizens
Bank of Spencer based in Spencer, Tenn.  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
June 30, 2010, the institution's balance sheet showed
$43.3 million in assets.


CLEAR CREEK: Weiss Gives Colo. Bank Very Weak E+ Rating
-------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Clear
Creek National Bank based in Georgetown, Colo.  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
June 30, 2010, the institution's balance sheet showed
$23.6 million in assets.


CLOVERLEAF ENTERPRISES: Attorney's Fees Not Based on Results
------------------------------------------------------------
WestLaw reports that in assessing the reasonableness of fees
requested by a debtor's attorney, a court must consider whether,
at the time the services were rendered, a reasonable attorney
would have believed that they would benefit the estate, rather
than the practical effects actually achieved by the attorney's
services.  A bankruptcy judge in Maryland disagreed with a lone
contrary Fifth Circuit decision.  While the most critical factor
in determining the reasonableness of a fee award is the degree of
success obtained, debtors' attorneys are not guarantors of
favorable results.  In re Cloverleaf Enterprises, Inc., --- B.R. -
---, 2010 WL 2774823 (Bankr. D. Md.).

Fort Washington, Maryland-based Cloverleaf Enterprises Inc. --
http://www.rosecroft.com/-- owns the Rosecroft Raceway, a harness
track.  The Company filed for Chapter 11 protection (Bankr. D. Md.
Case No. 09-20056) on June 3, 2009, represented by Nelson C.
Cohen, Esq., at Zuckerman Spaeder LLP in Washington, D.C.  The
Company estimated $10 million to $50 million in assets and
$1 million to $10 million in debts in its Chapter 11 petition.
The Company's operations were halted in June 2010.


COLONIAL BANCGROUP: Consents to Revocation of Securities
--------------------------------------------------------
In connection with the public administrative proceedings that the
U.S. Securities and Exchange Commission instituted against The
Colonial BancGroup, Inc. (Administrative Proceeding File No.
3-13967) to revoke the registration of the Company's securities
registered under Section 12 of the Securities Exchange Act of
1934, as amended, the Company, on September 20, 2010, submitted to
the Staff of the Commission an original executed Offer of
Settlement setting forth proposed terms of settlement of the
administrative proceeding and the revocation of the registration
of the Company's securities.

The Company expects that the Offer of Settlement will be submitted
by the Staff to the Commission with a recommendation of approval.
If approved, the registration of the Company's securities will be
revoked.

A full-text copy of the Offer of Settlement is available for free
at http://researcharchives.com/t/s?6ba6

                   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.


COLORADO VALLEY: Weiss Gives Tex. Bank Very Weak E+ Rating
----------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Colorado
Valley Bank SSB based in La Grange, Tex.  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
June 30, 2010, the institution's balance sheet showed
$27.4 million in assets.


COMMUNITY BANK: Weiss Gives Ga. Bank Very Weak E+ Rating
--------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Community
Bank of Pickens County based in Jasper, Ga.  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
June 30, 2010, the institution's balance sheet showed
$315.4 million in assets.


COMMUNITY BANK: Weiss Gives Ill. Bank Very Weak E+ Rating
---------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Community
Bank-Wheaton/Glen Ellyn based in Glen Ellyn, Ill.  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 June 30, 2010, the institution's balance sheet showed
$334.8 million in assets.


COMMUNITY BANK: Weiss Gives Mo. Bank Very Weak E Rating
-------------------------------------------------------
Weiss Ratings has assigned its "very weak" E rating to Community
Bank of Shell Knob based in Shell Knob, Mo.  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
June 30, 2010, the institution's balance sheet showed
$11.4 million in assets.


COMMUNITYONE BANK: Weiss Gives N.C. Bank Very Weak E Rating
-----------------------------------------------------------
Weiss Ratings has assigned its "very weak" E rating to
CommunityOne Bank, N.A. based in Asheboro, N.C.  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 June 30, 2010, the institution's balance sheet showed
$2 billion in assets.


CONSTITUTION CORPORATE: Undercapitalized; In Conservatorship
------------------------------------------------------------
The National Credit Union Administration on Friday assumed control
of three undercapitalized corporate credit unions, announced a
plan to isolate the impaired assets in the corporate credit union
system, and finalized a set of stronger regulations -- key
elements in its efforts to resolve the financial challenges facing
corporate credit unions without disrupting consumer service.

"The steps NCUA has taken [Fri]day represent a comprehensive
solution to the problems afflicting the corporate credit union
system," said NCUA Chairman Debbie Matz. "Just as important, this
plan puts consumers first and ensures that there will be no loss
to taxpayers. This plan also provides an orderly transition to a
new regulatory regime for corporates. In addition, we are
affording local credit unions greater choice in selection of their
liquidity and back office provider."

The Temporary Corporate Credit Union Share Guarantee Program
remains fully in effect for the entire corporate system through
December 31, 2012.

In addition, NCUA continues to insure credit union and consumer
deposits up to $250,000 per account. Setting the plan into motion
required conservatorship of three additional corporate credit
unions that are not viable:

     -- Members United Corporate Federal Credit Union of
        Warrenville, Illinois;

     -- Southwest Corporate Federal Credit Union of Plano, Texas;
        and

     -- Constitution Corporate Federal Credit Union of
        Wallingford, Connecticut.

In March 2009, U.S. Central Corporate Federal Credit Union of
Lenexa, Kansas, and Western Corporate Federal Credit Union of San
Dimas, California, were also placed into conservatorship.

In a conservatorship, NCUA replaces an institution's management
and board, operating it in a way that protects taxpayers' and
members' interests during its orderly transition and resolution.
The plan to address the impaired assets and resolve these troubled
institutions involves several interrelated steps:

     -- Isolating the impaired securities (legacy assets) held by
        these five corporate credit unions;

     -- Repackaging the legacy assets into new securities with an
        NCUA guarantee backed by the unconditional full faith and
        credit of the United States government;

     -- Issuing the new securities to investors on the open
        market;

     -- Transferring the corporates' still-valuable assets to
        newly created "bridge banks" that will allow for
        continued operations; and

     -- Transitioning operations now under NCUA conservatorship
        over a target of 24 months to other service providers.

NCUA has consulted with the Treasury, Federal Reserve and other
federal financial regulators in developing these plans, and will
continue to work closely with these agencies to ensure the orderly
resolution of conserved corporates, the effective implementation
of the steps outlined, and the continued smooth operation of the
credit union system.

In particular, the life of the Temporary Corporate Credit Union
Stabilization Fund has been extended to June 30, 2021, with the
concurrence of Treasury Secretary Timothy F. Geithner.  This will
provide the NCUA Board with important flexibility in mitigating
the impact of the annual assessments to credit unions for the
costs over this period.  It should be noted that the costs will be
borne exclusively by the credit union industry, and will not
result in any loss to taxpayers.

NCUA adopted a new set of regulatory reforms aimed at
strengthening the corporate credit union system. The new corporate
regulation (NCUA Rules and Regulations, Part 704):

     -- Implements stronger capital requirements and establishes
        prompt corrective action measures for corporate credit
        unions;

     -- Establishes clear concentration limits on investments that
        will require corporate credit unions to better diversify
        their portfolios;

     -- Improves asset-liability management requirements to avoid
        liquidity and interest rate risks; and

     -- Raises governance standards to improve levels of
        experience and expertise on corporate boards.

"NCUA's action to deal with the troubled institutions and the
impaired securities on the corporates' books -- together with
reforms to the NCUA regulation that governs the corporate system
-- will create stronger safeguards for the nation's entire credit
union system," said Chairman Matz. "The credit union community has
long hoped to see a coordinated, market-based, least-cost solution
to the corporate crisis, and we have delivered that [Fri]day."

NCUA Board Member Gigi Hyland noted, "The regulatory reforms and
plan to resolve the troubled institutions and their impaired
assets are key steps to allow the credit union system to move
forward. The corporate rule is stronger thanks to the 815
commenters who provided NCUA feedback.  And, these actions reflect
the key principle that has guided NCUA's efforts -- finding a
solution that minimizes, as much as possible, the cost to the
credit union system while spreading that cost out over time."

NCUA Board Member Michael Fryzel commented that "NCUA, along with
the entire credit union industry, has struggled with the corporate
problem for over two years.  [Fri]day's Board actions culminate
months of analysis, review and planning and establish a regulatory
framework and viable options that will prevent a reoccurrence of
this crisis and give credit unions a choice for the future."

Chairman Matz also emphasized that the future of the remainder of
the corporate credit union system will be determined by the
private sector's judgment, not by any government dictate.

"The leaders of the nation's consumer credit unions must make the
strategic business decisions about whether to recapitalize some of
the remaining, viable corporates, switch to a different corporate,
or seek services at some other type of institution," said Chairman
Matz.  "NCUA is confident that the new framework will enable the
choices ahead to be made in the context of strong and safe credit
union operations. The credit union industry, and the 90 million
consumers it serves, deserve nothing less."

                           *     *     *

The Wall Street Journal's Mark Maremont and Victoria McGrane
report that the three credit unions seized last week had a total
of $19.67 billion in assets as of July 2010:

                                                  Assets
                                                  ------
     Members United Corporate Federal
     Credit Union                              $8.93 billion

     Southwest Corporate Federal
     Credit Union                              $9.52 billion

     Constitution Corporate Federal            $1.22 billion
     Credit Union

The two credit unions seized in March 2009 had these assets:

                                                  Assets
                                                  ------
     U.S. Central Corporate Federal
     Credit Union                               $34 billion

     Western Corporate Federal
     Credit Union                               $23 billion

NCUA is the independent federal agency that regulates, charters
and supervises federal credit unions.  With the backing of the
full faith and credit of the U.S. government, NCUA operates and
manages the National Credit Union Share Insurance Fund, insuring
the deposits of over 90 million account holders in all federal
credit unions and the overwhelming majority of state-chartered
credit unions.


CONTECH CONSTRUCTION: Bank Debt Trades at 16% Off
-------------------------------------------------
Participations in a syndicated loan under which CONTECH
Construction Products, Inc., is a borrower traded in the secondary
market at 84.30 cents-on-the-dollar during the week ended Friday,
September 24, 2010, according to data compiled by Loan Pricing
Corp. and reported in The Wall Street Journal.  This represents an
increase of 1.30 percentage points from the previous week, The
Journal relates.  CONTECH pays 200 basis points above LIBOR to
borrow under the facility.  The bank loan matures on Jan. 31,
2013, and carries Moody's B3 rating and Standard & Poor's CCC+
rating.  The loan is one of the biggest gainers and losers among
215 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

                    About Contech Construction

Headquartered in West Chester, Ohio, CONTECH Construction
Products, Inc. -- http://www.contech-cpi.com/-- makes,
distributes, and installs civil engineering products related to
environmental storm water, drainage, bridges, walls, and earth
stabilization.  CONTECH has dealers, distributors, or
manufacturing plants in all 50 U.S. states and a national sales
organization of more than 350 people.  Investment firm Apax
Partners owns CONTECH.

As reported by the Troubled Company Reporter on September 17,
2010, Standard & Poor's lowered its ratings on Contech
Construction Products Inc., including the corporate credit rating
to 'CCC' from 'B-'.  All ratings remain on CreditWatch, where they
were placed with negative implications on June 18, 2010.  "The
downgrade and CreditWatch status reflects S&P's assessment that
continued challenging levels of commercial construction activity
and lower-than-expected residential construction activity are
likely to continue to constrain Contech's operating results in the
near term," said Standard & Poor's credit analyst Thomas Nadramia.


CONTINENTAL TRUSTEES: S&P Assigns 'BB' Rating on $200 Mil. Notes
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its preliminary 'BB'
rating to Continental Trustees Ltd.'s $200 million fixed-
/floating-rate step-up notes due 2040.

The transaction structure is intended to mirror the credit risk of
the underlying collateral in the form of a participation interest
in a Banco Continental subordinated loan.  S&P considers the
credit quality of the underlying loan to be below S&P's long-term
counterparty rating on the bank, reflecting both the incremental
risk to creditors related to the subordinated position of these
notes to the bank's senior creditors and the bank's flexibility in
making interest payments.  (S&P's ratings on this type of hybrid
security generally incorporate the risk of nonpayment despite the
permissibility of such nonpayment under the terms of the issue.)

Banco Continental may opt to suspend interest payments on this
note issue if it determines that canceling such interest payments
is necessary or desirable to enable the bank to remain in
compliance during the next 12 months with its minimum regulatory
capital requirements, in accordance with Peruvian banking laws and
regulations.  In addition, interest on this security will be
mandatorily suspended if Banco Continental is not in compliance
with its applicable regulatory capital requirements, if the
sector's regulatory body (the Superintendency of Banks, Insurance
and Private Pension Fund Administrators) mandates a prohibition of
such interest payments, or if there are no distributable profits
for the bank as of the latest fiscal year end.

The transaction rating reflects S&P's view that despite this
flexibility and the possibility for a suspension in the payment of
interest, S&P views such suspension as remote.  If circumstances
lead to an increased risk of a suspension of payments, S&P would
consider further widening the difference between the transaction
rating and the bank's counterparty credit rating.

Standard & Poor's 'BBB-/A-3' counterparty credit ratings on Banco
Continental primarily reflect the bank's strong market position as
the second-largest player in the Peruvian financial system, its
sound management team, and a solid financial risk profile.  The
bank's financial strength is evidenced mainly by its ample,
stable, and low-cost deposit base, which represents the bank's
main funding source; its high profitability and liquidity; healthy
asset quality indicators; and good operating efficiency, enhanced
by the involvement one of its two main owners, Banco Bilbao
Vizcaya Argentaria S.A. (BBVA; AA/Negative/A-1+).  Partially
offsetting these strengths are the bank's exposure to Peru and the
high competitive pressures in that country's financial system.

The rating also reflects the role of Credit Suisse AG as lender
under the subordinated loan.  According to the transaction
documents, Credit Suisse is responsible for transferring all
payments received under the loan within 24 hours to the
transaction trust, thereby mitigating any commingling risk.

The interest rate on the notes will mirror that of the underlying
collateral and will be fixed for the first 10 years, after which
the notes will accrue interest at a floating rate equal to LIBOR
plus a spread.  As long as the step-up in the interest rate at
year 10 does not exceed 200 basis points, S&P will characterize
the loan as having "intermediate strong" equity credit until 2020
due to the loan's flexibility of payments, long-dated maturity,
and significant subordination.

                           Ratings List

Banco Continental                               Rating
-----------------                               ------
Counterparty credit rating                      BBB-/Positive/A-3

                   Preliminary Rating Assigned

                     Continental Trustees Ltd.

    $200 million fixed-/floating-rate step-up junior
    subordinated notes due 2040                              BB


CORNERSTON BANK: Weiss Gives N.D. Bank Very Weak E- Rating
----------------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to
Cornerstone Bank based in Ederlin, N.D.  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
June 30, 2010, the institution's balance sheet showed
$339.9 million in assets.


COVENANT BANK: Weiss Gives Ill. Bank Very Weak E Rating
-------------------------------------------------------
Weiss Ratings has assigned its "very weak" E rating to Covenant
Bank based in Chicago, Ill.  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
June 30, 2010, the institution's balance sheet showed
$76.4 million in assets.


CREEKSIDE SENIOR: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Creekside Senior Apartments, LP
        340 Royal Ponciana Way, Suite 305
        Palm Beach, FL 33480

Bankruptcy Case No.: 10-53019

Chapter 11 Petition Date: September 22, 2010

Court: United States Bankruptcy Court
       Eastern District of Kentucky (Lexington)

Debtor's Counsel: Douglas T. Logsdon, Esq.
                  201 E Main Street, #1000
                  Lexington, KY 40507
                  Tel: (859) 231-8780
                  E-mail: dlogsdon@mmlk.com

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

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

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

The petition was signed by Brian Doran, president of sole member
of general partner.


CROSSTOWN STOR-N-MORE: Gets Interim OK to Pay Insider Salary
------------------------------------------------------------
The Hon. Caryl E. Delano of the U.S. Bankruptcy Court for the
Middle District of Florida authorized, on an interim basis,
Crosstown Stor-N-More Self Storage, LLC, to pay insider management
fees and salary.

The Debtor may pay its general manager, D&S Management and
Consulting Inc., a $3,200 management fee; and its insider Dawson
Kleist an hourly rate of $10.

The Court scheduled a final evidentiary hearing on September 28,
2010, at 1:30 p.m., to consider the Debtor's request to pay
insider management fees and salary.

           About Crosstown Stor-N-More Self Storage, LLC

Bradenton, Florida-based Crosstown Stor-N-More Self Storage, LLC's
business consists of a self storage facility, an executive office
center, and a car wash in Tampa, Florida.  Crosstown Stor-N-More
filed for Chapter 11 protection on August 20, 2010 (Bankr. M.D.
Fla. Case No. 10-20055).  Alberto F. Gomez, Jr., Esq., at Morse &
Gomez, PA, assists the Debtor in its restructuring effort.  The
Debtor estimated assets at $10 million to $50 million and debts at
$1 million to $10 million in its Chapter 11 petition.


CYSTALLEX INTERNATIONAL: Posts $13.2MM Net Loss in June 30 Quarter
------------------------------------------------------------------
Crystallex International Corporation reported a net loss of
$13.2 million for the three months ended June 30, 2010, compared
to a net loss of $6.8 million for the same period last year.

The Company recorded a loss from continuing operations for the
three months ended June 30, 2010, of $12.8 million, compared to a
loss of $6.3 million for the comparable periods in 2009.  The
increased loss is mainly due to the write-down of property, plant
and equipment of $4.1 million, provision for recovery of value
added taxes of $1.9 million, decreased foreign exchange gains of
$2.4 million, increased interest expense of $273,000, and
increased administration costs of $554,000 offset by reduced
litigation expenses of $1.7 million and future income tax
recoveries of $1.0 million.

The Company's balance sheet at June 30, 2010, showed $74.2 million
in total assets, $109.6 million in total liabilities, and a
stockholders' deficit of $35.4 million.

As at June 30, 2010, the Company had working capital of
$20.0 million, including cash of $32.1 million.  Management
estimates that these funds will be sufficient to meet the
Company's obligations and budgeted expenditures for the
foreseeable future, but may not be sufficient to repay the
$100.0 million notes payable due on December 23, 2011.

The Company is currently pursuing a strategic partnership which,
if concluded as currently envisaged, would result in the
extinguishment of the Notes prior to maturity.  In the event that
the strategic partnership is not concluded and alternate sources
of cash or other consideration are not available prior to maturity
of the Notes, the Company may have to negotiate a payment or other
settlement with the Noteholders to extinguish this obligation
through a variety of payment consideration, which it believes is
possible based on prior communications.

"There is, however, no assurance that the Company would be
successful in repaying or settling the Notes prior to or at
maturity and, accordingly, substantial doubt exists as to the
appropriateness of the use of accounting principles applicable to
a going concern."

A full-text copy of the unaudited financial statements for the
three months ended June 30, 2010, is available for free at:

               http://researcharchives.com/t/s?6b96

                  About Crystallex International

Crystallex International Corporation (TSX: KRY) (NYSE Amex: KRY)
-- http://www.crystallex.com/-- is a Canadian based company,
whose principal asset is its interest in the Las Cristinas gold
project located in Bolivar State, Venezuela.


DAMON PURSELL: Section 341(a) Meeting Scheduled for Oct. 14
-----------------------------------------------------------
The U.S. Trustee for Region 13 will convene a meeting of Damon
Pursell Construction Company's creditors on October 14, 2010, at
2:00 p.m.  The meeting will be held at US Courthouse, Room 2110A,
400 E. 9th Street, Kansas City, Missouri.

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.

Kansas City, Missouri-based Damon Pursell Construction Company
filed for Chapter 11 bankruptcy protection on September 15, 2010
(Bankr. W.D. Mo. Case No. 10-44965).  Thomas G. Stoll, Esq., at
Dunn & Davison, LLC, assists the Debtor in its restructuring
effort.  According to its schedules, the Debtor disclosed
$18,458,000 in total assets and $11,981,801 in total liabilities
as of the Petition Date.


DAMON PURSELL: Files Schedules of Assets & Liabilities
------------------------------------------------------
Damon Pursell Construction Company has filed with the U.S.
Bankruptcy Court for the Western District of Missouri its
schedules of assets and liabilities, disclosing:

  Name of Schedule                    Assets           Liabilities
  ----------------                    ------           -----------
A. Real Property                    $8,000,000
B. Personal Property               $10,458,000
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                      $10,606,133
E. Creditors Holding
   Unsecured Priority
   Claims                                                 $438,446
F. Creditors Holding
   Unsecured Non-priority
   Claims                                                 $937,223
                                   -----------         -----------
      TOTAL                        $18,458,000         $11,981,801

Kansas City, Missouri-based Damon Pursell Construction Company
filed for Chapter 11 bankruptcy protection on September 15, 2010
(Bankr. W.D. Mo. Case No. 10-44965).  Thomas G. Stoll, Esq., at
Dunn & Davison, LLC, assists the Debtor in its restructuring
effort.


DAMON PURSELL: Taps Dunn & Davison as Bankruptcy Counsel
--------------------------------------------------------
Damon Pursell Construction Company asks for authorization from the
U.S. Bankruptcy Court for the Western District of Missouri to
employ Dunn & Davison, LLC, as bankruptcy counsel.

Dunn & Davison will, among other things:

     a. prepare and file any petition, schedules, motions,
        statement of affairs, plan of reorganization, or other
        pleadings or documents which may be required in the
        proceedings;

     b. represent the Debtor at meetings of creditors, plan
        disclosure, confirmation and related hearings, and any
        adjourned hearings therefore;

     c. represent the Debtor in adversary proceedings and other
        contested bankruptcy matters; and,

     d. represent the Debtor in any other matter that may arise in
        connection with the Debtor's reorganization proceeding and
        its business operations.

The hourly rates of Dunn & Davison's personnel are:

        Partners                         $225
        Associates                       $175
        Paralegals                       $115

Thomas G. Stoll, Esq., a shareholder of Dunn & Davison, assures
the Court that the firm is a "disinterested person" as that term
is defined in Section 101(14) of the Bankruptcy Code.

Kansas City, Missouri-based Damon Pursell Construction Company
filed for Chapter 11 bankruptcy protection on September 15, 2010
(Bankr. W.D. Mo. Case No. 10-44965).  Thomas G. Stoll, Esq., at
Dunn & Davison, LLC, assists the Debtor in its restructuring
effort.  According to its schedules, the Debtor disclosed
$18,458,000 in total assets and $11,981,801 in total liabilities
as of the Petition Date.


DAVID MARCOE: Files Schedules of Assets & Liabilities
-----------------------------------------------------
David Brian Marcoes and Lori Lucille Marcoe have filed with the
U.S. Bankruptcy Court for the Western District of Washington its
schedules of assets and liabilities, disclosing:

  Name of Schedule                    Assets           Liabilities
  ----------------                    ------           -----------
A. Real Property                    $9,861,000
B. Personal Property                  $478,222
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                      $10,468,753
E. Creditors Holding
   Unsecured Priority
   Claims                                                       $0
F. Creditors Holding
   Unsecured Non-priority
   Claims                                                 $104,450
                                   -----------         -----------
      TOTAL                        $10,339,222         $10,573,203

Seattle, Washington-based David Brian Marcoe and David Brian
Marcoe and Lori Lucille Marcoe filed for Chapter 11 bankruptcy
protection on September 15, 2010 (Bankr. W.D. Wash. Case No. 10-
20975).  Cynthia A. Kuno, Esq., at Hanson Baker Ludlow Drumheller
PS, assists the Debtors in their restructuring effort.


DAVID MARCOE: Section 341(a) Meeting Scheduled for Oct. 19
----------------------------------------------------------
The U.S. Trustee for Region 18 will convene a meeting of David
Brian Marcoe and Lori Lucille Marcoe's creditors on October 19,
2010, at 1:00 p.m.  The meeting will be held at US Courthouse,
Room 4107, Seattle, Washington.

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.

Seattle, Washington-based David Brian Marcoe and David Brian
Marcoe and Lori Lucille Marcoe filed for Chapter 11 bankruptcy
protection on September 15, 2010 (Bankr. W.D. Wash. Case No. 10-
20975).  Cynthia A. Kuno, Esq., at Hanson Baker Ludlow Drumheller
PS, assists the Debtors in their restructuring effort.  According
to their schedules, the Debtors disclosed $10,339,221 in total
assets and $10,573,203 in total liabilities.


DARYL PRICE: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Daryl Price
        2520 E. Downs Ridge
        Appleton, WI 54913

Bankruptcy Case No.: 10-35400

Chapter 11 Petition Date: September 22, 2010

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

Judge: Susan V. Kelley

Debtor's Counsel: John W. Menn, Esq.
                  Paul G. Swanson, Esq.
                  STEINHILBER, SWANSON, MARES
                  107 Church Avenue
                  P.O. Box 617
                  Oshkosh, WI 54903
                  Tel: (920) 426-0456
                  Fax: (920) 426-5530
                  E-mail: jmenn@oshkoshlawyers.com
                          pswanson@oshkoshlawyers.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/wieb10-35400.pdf


DEEP DOWN: Posts $452,000 Net Loss in June 30 Quarter
-----------------------------------------------------
Deep Down, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $452,000 on $9.6 million of revenue for
the three months ended June 30, 2010, compared with a net loss of
$1.8 million on $6.2 million of revenue for the same period last
year.

The Company's balance sheet at June 30, 2010, showed $51.3 million
in total assets, $13.9 million in total liabilities, and
stockholders' equity of $37.4 million.

The Company discloses that it will need to raise additional debt
or equity capital or renegotiate or refinance its existing debt to
fund working capital requirements, to support selling, general and
administrative expenses and to pay all outstanding debt maturing
on April 15, 2011, under the Whitney National Bank New Amended and
Restated Credit Agreement.  "We cannot provide any assurance that
any financing will be available to us in the future on acceptable
terms or at all.  Any such financing could be dilutive to our
shareholders.  If we cannot raise required funds on acceptable
terms, we may not be able to, among other things, (i) maintain
SG&A; (ii) expand operations; (iii) hire and train new employees;
(iv) respond to competitive pressures or unanticipated capital
requirements; or (v) pay all outstanding debt maturing under the
New Agreement.  Per the terms of the New Agreement, we no longer
have access to a line of credit and must rely solely on our cash
position and operating cash flows for liquidity.  Therefore, we
are currently in discussions with several lenders who have
expressed interest in refinancing our debt.  While we believe that
our results of operations, including gross profit and operating
cash flows, will continue to improve over the remainder of the
year, additional debt or equity capital will be necessary to fund
working capital requirements, to support SG&A and to pay all
outstanding debt under the New Agreement if our planned results of
operations are not achieved.  Further, failure to achieve our
planned results could result in violation of certain of our loan
covenants and require us to raise additional debt or equity
capital.

"The foregoing and other matters raise substantial doubt about our
ability to continue as a going concern."

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

                http://researcharchives.com/t/s?6b94

                         About Deep Down

Deep Down, Inc. (OTC BB: DPDW) -- http://www.deepdowncorp.com/--
is an oilfield services company serving the worldwide offshore
exploration and production industry.  Deep Down's proven services
and technological solutions include distribution system
installation support and engineering services, umbilical
terminations, loose-tube steel flying leads, distributed and drill
riser buoyancy, ROVs and tooling, marine vessel automation,
control, and ballast systems. Deep Down supports subsea
engineering, installation, commissioning, and maintenance projects
through specialized, highly experienced service teams and
engineered technological solutions.  The Company's primary focus
is on more complex deepwater and ultra-deepwater oil production
distribution system support services and technologies, used
between the platform and the wellhead.


DELAWARE COUNTY BANK: Weiss Gives Ohio Bank Very Weak E+ Rating
---------------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Delaware
County Bank & Trust Co. based in Lewis Center, Ohio  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 June 30, 2010, the institution's balance sheet showed
$643.8 million in assets.


DENNIS NESMITH: Case Summary & 11 Largest Unsecured Creditors
-------------------------------------------------------------
Joint Debtors: Dennis Wayne NeSmith
               Catherine Brown NeSmith
               P.O. Box 352
               Clayton, GA 30525

Bankruptcy Case No.: 10-24270

Chapter 11 Petition Date: September 23, 2010

Court: U.S. Bankruptcy Court
       Northern District of Georgia (Gainesville)

Debtors' Counsel: Cameron M. McCord, Esq.
                  JONES & WALDEN, LLC
                  21 Eighth Street, NE
                  Atlanta, GA 30309
                  Tel: (404) 564-9300
                  Fax: (404) 564-9301
                  E-mail: cmccord@joneswalden.com

Scheduled Assets: $3,817,820

Scheduled Debts: $5,142,551

A list of the Joint Debtors' 11 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ganb10-24270.pdf


DESERT SPRINGS: Case Summary & 8 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Desert Springs Equestrian Center, LLC
               9200 N Ghost Ranch Trail
               Marana, AZ 85653

Bankruptcy Case No.: 10-30267

Chapter 11 Petition Date: September 22, 2010

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

Judge: Eileen W. Hollowell

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

Scheduled Assets: $1,897,780

Scheduled Debts: $960,637

A list of the Company's eight largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/azb10-30267.pdf

The petition was signed by Lorilei Peters, manager/member of
manager.


DEX MEDIA EAST: Bank Debt Trades at 24% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Dex Media East LLC
is a borrower traded in the secondary market at 75.80 cents-on-
the-dollar during the week ended Friday, September 24, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 0.96
percentage points from the previous week, The Journal relates.
The Company pays 250 basis points above LIBOR to borrow under the
facility.  The bank loan matures on October 24, 2014.  The debt is
not rated by Moody's and Standard & Poor's.  The loan is one of
the biggest gainers and losers among 215 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

                         About Dex Media East

Based in Cary, North Carolina, R.H. Donnelley Corp., fka The Dun &
Bradstreet Corp. (NYSE: RHD) -- http://www.rhdonnelley.com/--
publishes and distributes print and online directories in the U.S.
It offers print directory advertising products, such as yellow
pages and white pages directories.  R.H. Donnelley Inc., Dex
Media, Inc., and Local Launch, Inc., are the company's only direct
wholly owned subsidiaries.

Dex Media East, LLC, is a publisher of the official yellow pages
and white pages directories for Qwest Communications International
Inc. (Qwest) in the states, where Qwest is the primary incumbent
local exchange carrier, such as Colorado, Iowa, Minnesota,
Nebraska, New Mexico, North Dakota and South Dakota.

R.H. Donnelley Corp. and 19 of its affiliates, including Dex Media
East LLC, Dex Media West LLC and Dex Media, Inc., filed for
Chapter 11 protection on May 28, 2009 (Bank. D. Del. Case No. 09-
11833 through 09-11852), after missing a $55 million interest
payment on its senior unsecured notes due April 15.  James F.
Conlan, Esq., Larry J. Nyhan, Esq., Jeffrey C. Steen, Esq.,
Jeffrey E. Bjork, Esq., and Peter K. Booth, Esq., at Sidley Austin
LLP, in Chicago, Illinois represent the Debtors in their
restructuring efforts.  Edmon L. Morton, Esq., and Robert S.
Brady, Esq., at Young, Conaway, Stargatt & Taylor LLP, in
Wilmington, Delaware, serve as the Debtors' local counsel.  The
Debtors' financial advisor is Deloitte Financial Advisory Services
LLP while its investment banker is Lazard Freres & Co. LLC.  The
Garden City Group, Inc., is claims and noticing agent.

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


DOLLAR THRIFTY: Avis Budget Hikes Cash Offer to $45.79 a Share
--------------------------------------------------------------
Avis Budget Group, Inc., on Thursday issued a statement regarding
its outstanding offer to acquire Dollar Thrifty Automotive Group,
Inc.:

"We continue to believe in the merits of an Avis Budget-Dollar
Thrifty transaction, and we are therefore increasing the cash
portion of our offer from $40.75 to $45.79 per share (which would
include the proceeds of a pre-closing special dividend to be paid
by Dollar Thrifty consistent with our previous proposal).  Our
revised offer of $45.79 in cash and 0.6543 shares of Avis Budget
stock represents a meaningful premium over the revised offer from
Hertz Global Holdings, Inc. (NYSE: HTZ).  We believe that the
increased value is warranted based on improving fundamentals in
the industry and at Dollar Thrifty in particular.  We would be
willing to offer an even higher price in the absence of the break-
up fee that Dollar Thrifty's Board has provided for in its
agreement with Hertz.

"We believe it would be beneficial for Dollar Thrifty shareholders
if the Dollar Thrifty Board of Directors engaged in a process to
maximize value, rather than letting Hertz dictate timing and
process.

"Dollar Thrifty's Board continues to disappoint.  Not only have
they once again failed to engage in any discussions with Avis
Budget prior to entering into the new binding agreement with
Hertz, but they have also failed to use the renegotiation with
Hertz as an opportunity to create a level playing field for all
potential bidders.  Dollar Thrifty's failure to remove Hertz's
matching rights makes no sense given that Hertz characterized its
revised offer as "non-negotiable and final."

"Based on the analyses typically performed by regulatory
authorities, a number of airports will become highly concentrated
if Hertz acquires Dollar Thrifty (as traditionally defined by FTC
analysis).  A sale by Hertz of its Advantage brand -- a trivial
operation that has no presence at several dozen airports -- is by
itself unlikely to be a meaningful or sufficient remedy for any
antitrust issues.  Moreover, the real pricing picture, as shown in
the materials posted today to the Investor Relations section of
the Avis Budget Group website, tells the true story about Hertz's
exclusive relationship with AAA: With more than $500 million of
leisure revenue, Hertz's offering to AAA members clearly competes
directly with Dollar, Thrifty and other value brands.

"In light of these concerns, there is no justification for Dollar
Thrifty holding a shareholder meeting before the FTC completes its
review of the Avis Budget and Hertz submissions."

Citigroup and Morgan Stanley & Co. Incorporated are acting as
financial advisors to Avis Budget Group, and Kirkland & Ellis LLP
and Arnold & Porter LLP are acting as legal counsel.

                           *     *     *

The Hertz proposal includes a $44.6 million termination fee
payable should a potential deal not survive regulatory scrutiny.

Lou Whiteman, senior writer at TheDeal.com, says Avis isn't trying
very hard.  Mr. Whiteman wrote that analysts have said from the
beginning that either Hertz or Avis would have a difficult time
convincing regulators to sign off on a deal for Dollar Thrifty,
and the target's management has made it clear that the lack of a
termination fee is a deal-breaker.

Mr. Whiteman notes Dollar Thrifty CEO Scott Thompson in August
said that while the Avis offer was "more favorable, from a
financial point of view," the lack of a termination fee "can only
represent to us, to the market and to any objective observer a
lack of confidence by Avis Budget in its position."

According to Mr. Whiteman, Avis' participation has been a cause
for celebration and frustration on the part of Dollar Thrifty
shareholders.  While the rival bidder has already led to one Hertz
price boost, the lack of a termination fee has led some to believe
Avis is more interested in complicating Hertz's effort and
boosting its cost than actually buying the company.

"Dollar Thrifty drew them a road map back in August, and Avis
ignored it," one investor said, according to Mr. Whiteman.

Mr. Whiteman said the next move likely will depend on Hertz's
willingness to match, and Avis' willingness to talk termination
fees.

According to Mr. Whiteman, there is risk in halting procedures
indefinitely and waiting for the FTC: Shares of Dollar Thrifty,
trading above $52 today, hovered below $10 apiece as recently as
last summer and were as low as $17.72 late last year.  The auto
rental business is both competitive and vulnerable to a potential
economic double dip.

"Dollar Thrifty already delayed its shareholder meeting once to
allow time for an Avis response, only to see one of its primary
issues not addressed in that response. If Hertz were to match
Avis' offer before the Sept. 30 meeting, and perhaps even if not,
the company might see no reason to postpone the vote again," Mr.
Whiteman wrote.

                       About Dollar Thrifty

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

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

                           *     *     *

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

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

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

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

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


ELLIE CHAPPEL: Case Summary & 4 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Ellie N. Chappel
        578 Wahington Boulevard, #753
        Marina Del Rey, CA 90292

Bankruptcy Case No.: 10-50621

Chapter 11 Petition Date: September 23, 2010

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

Judge: Barry Russell

Debtor's Counsel: James M. Powell, Esq.
                  LAW OFFICES OF JAMES M. POWELL
                  1894 Commercenter Drive W, Suite 108
                  San Bernardino, CA 92408
                  Tel: (951) 275-9667

Scheduled Assets: $2,272,000

Scheduled Debts: $1,689,000

A list of the Debtor's four largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-50621.pdf


EMPIRE RESORTS: Enters Into Settlement with Noteholders
-------------------------------------------------------
Empire Resorts, Inc has entered into a settlement agreement with
the holders of over 93% of the outstanding principal amount of the
Company's 51/2% Senior Convertible Notes Due 2014 and the Trustee
under the indenture governing the Notes, pursuant to which the
parties have agreed to settle the proceeding commenced by the
Company in August 2009 in the Supreme Court of New York, Sullivan
County relating to the exercise of the put right contained in the
indenture governing the Notes.

Empire Resort Chairman of the Board Emanuel R. Pearlman commented,
"The Board has worked diligently over the past months to forge the
best possible outcome for our company and its various
stakeholders.  We are pleased to have reached this agreement with
our Noteholders which resolves pending litigation and
significantly deleverages the company."

Under the terms of the settlement agreement, the Company has
agreed to repay $22.5 million in aggregate principal amount of
Notes and offer to exchange up to 100% of the aggregate principal
amount of the Notes that remain outstanding after giving effect to
the such repayments for $32.5 million in aggregate principal
amount of 12% Senior Convertible Notes due 2014 to be issued by
the Company and a pro rata share of one million shares of the
Company's common stock.  The Company also has the option to seek
alternative financing to repurchase all Notes on or before
November 22, 2010 for an amount equal to the sum of all
outstanding principal and interest owed on the Notes plus
$975,000.  The Company will redeem any Notes held by a beneficial
owner that does not accept the Company's offer, if made, to
exchange the remaining Notes for the Restated Notes and common
stock, subject to the terms of the settlement agreement.  In
addition to the foregoing, the Company repaid an aggregate of $10
million of principal amount of the Notes in July and August 2010
in connection with settlement discussions with the Trustee and the
holders of the Notes.  Upon the closing of the settlement
agreement, the parties to the pending litigation will release all
claims known, unknown or suspected that each may have against the
other at such time and execute and file a Stipulation of
Discontinuance providing for the dismissal of the pending
litigation with prejudice and without costs to any party.

The Restated Notes, if issued, will bear interest on the principal
amount thereof at the rate of 12% per annum, 8% of which will be
payable in cash and 4% of which will be payable in cash or, at the
Company's option, in additional Restated Notes.  The Restated
Notes will be convertible, at the option of the holder, into
shares of Common Stock based upon a conversion rate of 1,132
shares per $1,000 in principal amount subject to certain anti-
dilution adjustment from time to time.  The Restated Indenture
governing the Restated Notes will set forth other important terms
of the Restated Notes, including, without limitation, provisions
relating to the holders' put option, mandatory and option
redemptions, interest make-whole provisions, and restrictive
covenants.

The closing of the settlement agreement is subject to, among other
things, the approval by the Company's stockholders of the
transactions contemplated by the settlement agreement and of a
corresponding increase in the Company's authorized capital stock
and upon the acceptance of the company's exchange offer by holders
of at least 90% of the then outstanding aggregate principal amount
of Notes.

Empire Resorts CEO Joseph D'Amato concluded, "This settlement is
an important milestone for Empire Resorts.  We are pleased to have
crafted an agreement that resolves the uncertainty of litigation
and also provides us with the flexibility to seek alternative
financing arrangements to satisfy our obligations under the Notes
until November 22, 2010.  We are optimistic that resolving the
pending litigation as provided under the settlement agreement will
allow Empire Resorts to focus on our ongoing efforts to enhance
shareholder value."

                      About Empire Resorts

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

The Company's balance sheet at June 30, 2010, showed
$85.95 million in total assets, $73.60 million in total
liabilities, and $12.35 million in stockholders' equity.

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


ENTERGY LOUISIANA: Moody's Affirms Ba1 Preferred Stock Rating
-------------------------------------------------------------
Moody's Investors Service assigned a senior secured rating of A3
to Entergy Louisiana's new issuance of first mortgage bonds.  The
bonds will be used to refinance outstanding first mortgage bonds.

Concurrent with this rating assignment, Moody's affirmed all of
Entergy Louisiana's existing ratings, including its A3 senior
secured; Baa2 senior unsecured and Issuer Rating; and Ba1
preferred stock rating.  The rating outlook is stable.

Entergy Louisiana's ratings reflect the regulatory clarity
provided by the extension of its formula rate plan, the recent
recovery of 2008 storm costs through a securitized bond issue, and
financial and cash flow coverage metrics that are adequate for its
rating, partly because the storm cost securitization debt is not
reported on its balance sheet.  Ratings are constrained by capital
expenditures that are projected to be elevated over the next
several years, a low growth and economically depressed service
territory, and event risk related to potential hurricanes in its
service territory.

In October 2009, the Louisiana Public Service Commission extended
the company's formula rate plan for three years at the same ROE
mid-point of 10.25% and a +/- 80 basis point bandwidth.  Earnings
outside the bandwidth are allocated 60% to customers and 40% to
the company.  Louisiana regulators have been relatively supportive
in terms of storm cost recovery, approving the recent issuance of
$468.9 million of system restoration bonds for the recovery of
costs associated with hurricanes Gustav and Ike in 2008 and to
establish $200 million of reserves for future storms.  The utility
has also received initial regulatory support for the recovery of
virtually all costs related to the now cancelled repowering of its
Little Gypsy power plant from the LPSC staff.  While the amount
and timing of the recovery is still somewhat uncertain until the
LPSC rules on the matter, the staff recommendation was supportive
from a credit standpoint.  Hearings are scheduled to begin in
November 2010.

Entergy Louisiana's financial and cash flow coverage metrics have
exhibited significant variability in recent years due to the costs
incurred and subsequent recovery of costs associated with severe
hurricanes that affected the utility in both 2005 and 2008.
Despite this variability, metrics have been generally adequate for
the mid-Baa senior unsecured rating range, including CFO pre-
working capital plus interest to interest of 3.7x and CFO pre-
working capital to debt of 15.8% for the twelve months ended
June 30, 2010.

Following its most recent securitization, there are now more than
$1 billion of off-balance sheet securitization bonds outstanding
that are being serviced by Entergy Louisiana ratepayers.  The
utility does not report the securitized bonds that have been
issued by state authorities for storm cost recovery ("Act 55
financings") on its balance sheet.  If interest and debt
associated with these financings are included in its coverage
metrics, these metrics would be considerably lower, with CFO pre-
working capital plus interest to interest of 3.1x and CFO pre-
working capital to debt of 12.2% for the twelve months ended
June 30, 2010.  Although there is no recourse to Entergy Louisiana
on these bonds in an event of default, the utility is the servicer
of the bonds and its ratepayers are responsible for paying
principal and interest on the bonds through system restoration or
similar charges.

The utility's capital expenditures are projected to increase
substantially over the next several years as it undertakes the
replacement of a steam generator at its Waterford 3 nuclear plant,
and considers alternative generation to replace the capacity that
will be necessary with the suspension of the repowering project at
the Little Gypsy plant, in addition to the pending purchase of the
580 MW Acadia Unit 2 combined cycle power plant from Cleco.

The utility maintains adequate liquidity, relying for the most
part on its participation in the Entergy system money pool for
short-term funding needs, which allows it to access both inter-
company borrowings and funds from the parent company Entergy's
$3.5 billion credit facility.  The parent company recently
improved its liquidity position by reducing its revolver
borrowings by approximately $1 billion following the issuance of
senior notes.  In addition to accessing the money pool, Entergy
Louisiana maintains its own $200 million bank credit facility
expiring in August 2012, which was fully available as of June 30,
2010.

Entergy Louisiana's rating outlook is stable, reflecting Moody's
expectation the utility will continue to exhibit financial metrics
that are adequate for its rating, that its major capital
expenditure projects will be prudently financed with a balanced
mix of debt and equity, and that the Louisiana regulatory
environment will continue to allow for the full and reasonably
timely recovery of prudently incurred costs, including those
related to Little Gypsy.

Ratings could be increased if economic conditions improve in its
service territory, if Louisiana regulation continues to be
relatively supportive, or if there is a sustained increase in
reported credit metrics, including CFO pre-working capital plus
interest to interest above 4.0x and CFO pre-working capital to
debt above 20%.  Ratings could be lowered if there is a decline in
the supportiveness of the regulatory environment for utilities in
Louisiana, if there is a substantial increase in debt to finance
new capital projects or for new storm costs, or a sustained
decline in reported cash flow coverage metrics, including CFO pre-
working capital to interest below 3.3x and CFO pre-working capital
to debt below 16%.

Ratings assigned:

* Entergy Louisiana, LLC $250 million First Mortgage Bonds 4.44%
  Series due January 15, 2026 at A3.

Ratings affirmed:

* Entergy Louisiana's A3 senior secured; Baa2 senior unsecured and
  Issuer Rating; and Ba1 preferred stock rating.

Entergy Louisiana, LLC, is a public utility headquartered in Baton
Rouge, Louisiana and a subsidiary of Entergy Corporation, an
integrated energy company headquartered in New Orleans, Louisiana.


ERICSON STATE: Weiss Gives Neb. Bank Very Weak E Rating
-------------------------------------------------------
Weiss Ratings has assigned its "very weak" E rating to Ericson
State Bank based in Ericson, Neb.  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
June 30, 2010, the institution's balance sheet showed $53 million
in assets.


EUROBANK: Weiss Gives Fla. Bank Very Weak E+ Rating
---------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Eurobank
based in Coral Gables, Fla.  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
June 30, 2010, the institution's balance sheet showed
$106.4 million in assets.


EXCEL NATIONAL: Weiss Gives Calif. Bank Very Weak E Rating
----------------------------------------------------------
Weiss Ratings has assigned its "very weak" E rating to Excel
National Bank based in Beverly Hills, Calif.  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
June 30, 2010, the institution's balance sheet showed
$219.4 million in assets.


EZRI NAMVAR: Indicted For Alleged $20 Million Fraud
---------------------------------------------------
Bankruptcy Law360 reports that Ezri Namvar, a Los Angeles real
estate tycoon who's seen both his companies go bankrupt in the
past 18 months, has been indicted on charges that he stole more
than $20 million of client money from one company to pay off the
debts of the other.

Law360 says Mr. Namvar was charged with five counts of wire fraud
Tuesday for allegedly stealing about $23 million from five clients
of his business Namco Financial Exchange Corp.

Ezri Namvar, Chairman, CEO, is founder and principal shareholder
of Namco Capital Group, Inc., a privately held holding company for
companies engaged in real estate investments and financial
services.  Creditors with $7.7 million in claims filed involuntary
Chapter 11 petitions on December 22, 2008, against Mr. Namvar and
Namco Capital (Bankr. C.D. Calif. Case No. 08-32349, and 08-
32333).


FARMERS & MERCHANT: Weiss Gives Iowa Bank Very Weak E+ Rating
-------------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Farmers &
Merchant Bank & Trust based in Burlington, Iowa  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 June 30, 2010, the institution's balance sheet showed
$202.9 million in assets.


FARMERS STATE: Weiss Gives Ill. Bank Very Weak E- Rating
--------------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to Farmers
State Bank of Sublette based in Sublette, Ill.  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
June 30, 2010, the institution's balance sheet showed
$63.2 million in assets.


FARMERS STATE: Weiss Gives Neb. Bank Very Weak E+ Rating
--------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Farmers
State Bank based in Fairmont, Neb.  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
June 30, 2010, the institution's balance sheet showed $9.9 million
in assets.


FGIC CORP: Sharps Hikes Consent Fee; Exchange Offer Due Oct. 22
---------------------------------------------------------------
Sharps SP I LLC on Friday issued a supplement to the offer to
exchange residential mortgage-backed securities and asset-backed
securities insured by Financial Guaranty Insurance Company.
Pursuant to the Supplement, Sharps SP I has increased the cash
consent fee and other consideration being offered for certain
classes of Eligible Insured Securities and has added 10 classes of
securities to the offer as Eligible Insured Securities.  The
expiration date as to such added Eligible Insured Securities is
11:59 p.m., New York City time, on October 22, 2010.  Holders of
Eligible Insured Securities should refer to the Supplement for any
revised terms to the offer and updated disclosure regarding FGIC.

In addition, FGIC has informed Sharps SP I that the New York State
Insurance Department has indicated that it will not permit FGIC to
consent to the extension of the Offer beyond 11:59 p.m., New York
City time, on October 22, 2010, the current Expiration Date.

On September 15, Sharps SP I reported that as of September 14, (i)
Eligible Insured Securities representing $2,572,480,485 in current
unpaid principal balance measured as of April 30, 2010 have been
tendered into the offer, (ii) non-binding agreements have been
reached by Sharps or FGIC and Eligible Insured Securities holders
to tender Eligible Insured Securities totaling $121,808,237 in
aggregate current unpaid principal balance measured as of April
30, 2010, and (iii) letters of transmittal have been completed,
although the Eligible Insured Securities have not yet been
delivered, with respect to Eligible Insured Securities totaling
$559,997,560 in current unpaid principal balance measured as of
April 30, 2010.  The aggregate current unpaid principal balance of
the Eligible Insured Securities referenced in clauses (i), (ii)
and (iii) of the preceding sentence represent 34.5% of all
Eligible Insured Securities subject to the exchange offer.

The offer is being conducted only with qualified institutional
buyers as defined in Rule 144A under the Securities Act of 1933,
as amended, that are also qualified purchasers as defined in
Section 2(a)(51) under the Investment Company Act of 1940, as
amended.  The certificates that may be issued pursuant to the
offer have not been and, at the time of the closing of the
transaction, will not be registered under the Securities Act or
any state securities laws.  The certificates may not be offered,
sold or transferred in or outside of the United States except in
reliance on the exemption from the registration requirements of
the Securities Act afforded by Rule 144A thereunder and in
accordance with applicable state and foreign securities laws to
Qualified Institutional Buyers that are also Qualified Purchasers.

                         About FGIC Corp.

New York-based FGIC Corporation is a privately held insurance
holding company.  FGIC Corp's main business interest lies in the
holdings of the bond insurer Financial Guaranty Insurance Company
-- http://www.fgic.com/-- and it depends on dividend payments by
FGIC for sustaining its operations.  FGIC had stopped paying
dividends to parent FGIC Corp. since January 2008.

FGIC Corp. filed for Chapter 11 bankruptcy protection on August 3,
2010 (Bankr. S.D.N.Y. Case No. 10-14215).  Paul M. Basta, Esq.,
Brian S. Lennon, Esq., and Patrick J. Nash, Jr., Esq., at Kirkland
& Ellis LLP, serve as counsel to the Debtor.  Garden City Group,
Inc., is the Debtor's claims and notice agent.  The Company
disclosed $11,539,834 in assets and $391,555,568 in liabilities as
of the petition Date.

As reported by the Troubled Company Reporter on August 16, 2010,
FGIC filed a plan of reorganization and disclosure statement.  The
Plan negotiated between FGIC Corp. and its key creditors and
shareholders will allow the FGIC Corp. to cancel debt obligations
in the aggregate amount of $391.5 million.  The Plan provides that
holders of general unsecured claims against FGIC Corp. -- which
include holders of outstanding debt under FGIC Corp.'s prepetition
revolving credit facility and holders of FGIC Corp.'s 6% Senior
Notes due 2034 -- will receive substantially all of its $11.5
million in cash and the common stock in Reorganized FGIC Corp.
The three largest common shareholders of FGIC Corp., representing
over 90% of its common stock, have agreed to the cancellation of
their equity interests pursuant to the Plan and have agreed to
waive general unsecured claims against the estate in the aggregate
amount of $7.2 million.  As agreed upon with FGIC Corp.'s major
creditors, Reorganized FGIC Corp. will be capitalized with no more
than $400,000 to fund its business needs and will continue to
operate as an insurance holding company after the Effective Date
of the Plan.


FIRST AMERICAN: Weiss Gives Colo. Bank Very Weak E+ Rating
----------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to First
American State Bank based in Greenwood Village, Colo.  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 June 30, 2010, the institution's balance sheet showed
$244.4 million in assets.


FIRST BANK: Weiss Gives Fla. Bank Very Weak E+ Rating
-----------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to First Bank
of the Palm Beaches based in West Palm Beach, Fla.  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 June 30, 2010, the institution's balance sheet showed
$74.8 million in assets.


FIRST COMMUNITY: Weiss Gives Fla. Bank Very Weak E+ Rating
----------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to First
Community Bank of America based in Pinellas Park, Fla.  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 June 30, 2010, the institution's balance sheet showed
$518.1 million in assets.


FIRST HOME: Weiss Gives Fla. Bank Very Weak E- Rating
-----------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to First Home
Bank based in Seminole, Fla.  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
June 30, 2010, the institution's balance sheet showed
$94.5 million in assets.


FIRST INTERNATIONAL: Weiss Gives Tex. Bank Very Weak E+ Rating
--------------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to First
International Bank based in Plano, Tex.  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
June 30, 2010, the institution's balance sheet showed
$388.5 million in assets.


FIRST NATIONAL: Weiss Gives Fla. Bank Very Weak E+ Rating
---------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to First
National Bank of Crestview based in Crestview, Fla.  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 June 30, 2010, the institution's balance sheet showed
$137.8 million in assets.


FIRST NATIONAL: Weiss Gives Wisc. Bank Very Weak E Rating
---------------------------------------------------------
Weiss Ratings has assigned its "very weak" E rating to First
National Bank & Trust based in Barron, Wisc.  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
June 30, 2010, the institution's balance sheet showed
$46.3 million in assets.


FIRST STATE: Weiss Gives S.D. Bank Very Weak E- Rating
------------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to First
State Bank of Warner South based in Warner, S.D.  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 June 30, 2010, the institution's balance sheet showed
$49.2 million in assets.


FRANK MONGELLUZZI: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Frank Mongelluzzi
        1165 State Route 27, Suite A-1011
        Somerset, NJ 08873

Bankruptcy Case No.: 10-39289

Chapter 11 Petition Date: September 22, 2010

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

Judge: Michael B. Kaplan

Debtor's Counsel: Lawrence Morrison, Esq.
                  110 East 59th Street, 23rd Floor
                  New York, NY 10022
                  Tel: (212-655-3582
                  Fax: (646) 514-3172
                  E-mail: morrlaw@aol.com

Estimated Assets: $0 to $50,000

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/njb10-39289.pdf

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
ABTS Holdings, LLC                    10-39287            09/22/10


FREEPORT STATE: Weiss Gives Kan. Bank Very Weak E- Rating
---------------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to Freeport
State Bank based in Harper, Kan.  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
June 30, 2010, the institution's balance sheet showed
$21.6 million in assets.


FREESCALE SEMICON: Bank Debt Trades at 9% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which Freescale
Semiconductor, Inc., is a borrower traded in the secondary market
at 90.71 cents-on-the-dollar during the week ended Friday,
September 24, 2010, according to data compiled by Loan Pricing
Corp. and reported in The Wall Street Journal.  This represents an
increase of 0.61 percentage points from the previous week, The
Journal relates.  The Company pays 425 basis points above LIBOR to
borrow under the facility.  The bank loan matures on Feb. 16,
2016, and carries Moody's B2 rating and Standard & Poor's B-
rating.  The loan is one of the biggest gainers and losers among
215 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

As reported by the Troubled Company Reporter on September 16,
2010, Fitch Ratings affirmed these ratings for Freescale
Semiconductor Holdings I, Ltd.:

  -- Issuer Default Rating at 'CCC';
  -- Senior unsecured notes at 'C/RR6';
  -- Senior subordinated notes at 'C/RR6'.

Fitch has upgraded these senior secured ratings:

  -- Senior secured bank revolving credit facility to 'B-
     /RR3' from 'CCC/RR4';

  -- Senior secured term loans to 'B-/RR3' from 'CCC/RR4';

  -- Senior secured notes to 'B-/RR3' from 'CCC/RR4';

The Rating Outlook is Positive.  Fitch's actions affect
approximately $7.7 billion of total debt, including undrawn
amounts under the RCF.

Freescale Semiconductor, Inc. -- http://www.freescale.com/-- once
Motorola's Semiconductor Products Sector, is one of the oldest and
most diverse makers of microchips in the world.  It produces many
different kinds of chips for use in automobiles, computers,
industrial equipment, wireless communications and networking
equipment, and other applications.  The company's global client
roster includes such blue-chip companies as Alcatel-Lucent, Bosch,
Cisco Systems, Fujitsu, Hewlett-Packard, QUALCOMM, and Siemens, as
well as former parent Motorola.  Freescale nets about half of its
sales from the Asia/Pacific region.  The Blackstone Group, The
Carlyle Group, Permira Advisers, and TPG Capital own the company.


FRONTENAC BANK: Weiss Gives Mo. Bank Very Weak E- Rating
--------------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to Frontenac
Bank based in Earth City, Mo.  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
June 30, 2010, the institution's balance sheet showed
$425.5 million in assets.


G. KLAPPENBACH: Case Summary & 16 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: G. Jorge Klappenbach
        23600 El Toro Rd, D308
        Lake Forest, CA 92630

Bankruptcy Case No.: 10-23403

Chapter 11 Petition Date: September 22, 2010

Court: United States Bankruptcy Court
       Central District Of California (Santa Ana)

Judge: Theodor Albert

Debtor's Counsel: Arthur F. Stockton, Esq.
                  STOCKTON LAW OFFICES
                  8655 E Via De Ventura Ste G200
                  Scottsdale, AZ 85258
                  Tel: (866) 682-8776
                  Fax: (866) 207-4082
                  E-mail: art@stocktonlawoffices.com

Estimated Assets: $0 to $50,000

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

A list of the Debtor's 16 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-23403.pdf


GANNETT CO: Moody's Gives Stable Outlook; Retains 'Ba1' Rating
--------------------------------------------------------------
Moody's Investors Service changed Gannett Co, Inc.'s rating
outlook to stable from negative and assigned Baa3 ratings to the
company's proposed $500 million guaranteed senior unsecured notes
due 2015 and 2018 following the company's announcement of the bond
offerings and amendment and extension of its revolving credit
facilities.  Gannett's Ba1 Corporate Family Rating, Ba1
Probability of Default Rating and SGL-2 speculative-grade
liquidity rating are not affected.  Loss given default assessments
were updated to incorporate the effect of the refinancing and
revolver commitment reduction.

Assignments:

Issuer: Gannett Co., Inc.

  -- Senior Unsecured Guaranteed Bonds (Due 2015), Assigned Baa3,
     LGD3 - 34%

  -- Senior Unsecured Guarantees Bonds, (Due 2018), Assigned Baa3,
     LGD3 - 34%

LGD Updates:

Issuer: Gannett Co., Inc.

  -- Senior Unsecured Bank Credit Facilities (Revolver and Term
     Loan), Changed to LGD3 - 34% from LGD3 - 36% (no change to
     Baa3 rating)

  -- Senior Unsecured Guaranteed Bonds (Due 2014, 2015, 2016 and
     2017), Changed to LGD3 - 34% from LGD3 - 36% (no change to
     Baa3 rating)

  -- Senior Unsecured Unguaranteed Bonds (Due 2011 and 2012),
     Changed to LGD5 - 86% from LGD5 - 87% (no change to Ba2
     rating)

Outlook Actions:

Issuer: Gannett Co., Inc.

  -- Outlook, Changed To Stable From Negative

The change to a stable rating outlook reflects Moody's view that
the proposed transactions meaningfully reduce refinancing risk
over the intermediate term as Gannett plans to utilize the
proceeds to reduce its term loan and revolver borrowings, and
extend the expiration date on $1.14 billion of its revolving
credit commitments to September 2014 from March 2012.  Gannett has
traditionally utilized a high proportion of shorter-term debt, but
is taking steps to term out maturities and reduce the amount
falling due in any one year.  Moody's believes a longer and more
laddered maturity profile diminishes annual debt repayment needs,
better matches the tenor of Gannett's assets and is more
manageable within cash, projected free cash flow, and unused
revolver capacity.

Moody's expects Gannett's efforts to monetize its content in a
variety of non-print channels and reinvest through acquisitions
will partially mitigate declines in its newspaper business.  This
coupled with continued debt reduction should maintain debt-to-
EBITDA leverage (approximately 2.8x LTM 6/27/10 incorporating
Moody's standard adjustments) in a mid to high 2x range over the
next 12-24 months.

Moody's does not expect the increase in cash interest costs
associated with the refinancing to materially reduce Gannett's
free cash flow.  The reduction in the revolver commitment to
$1.63 billion from $2.75 billion also does not meaningfully weaken
Gannett's liquidity as it is balanced by a reduction in revolver
drawdowns, the more laddered maturity profile, and the commitment
extension.  Moody's anticipates Gannett will maintain in excess of
$300 million of unused revolver capacity over the next two years.

Gannett's material domestic subsidiaries provide unconditional
senior unsecured guarantees on the proposed notes, which is
identical to the guarantees provided to Gannett's bank credit
facilities and its $760 million of notes maturing from 2014-2017.
The proposed notes have covenants, including limitation on liens
and change of control provisions, that are substantially the same
as the 2014-2017 notes.  The guaranteed debt remains structurally
senior to the $740 million of remaining unguaranteed notes with
respect to material domestic subsidiaries (approximately 70% of
consolidated revenue).  A refinancing of the June 2011 notes
($433 million face value outstanding) with cash flow or guaranteed
debt (including revolver borrowings) would reduce the amount of
unguaranteed debt that is structurally junior to the guaranteed
notes and credit facilities.  Moody's believes that retirement of
the 2011 notes in such a manner could cause the rating on
Gannett's guaranteed debt -- including the proposed bonds -- to
decline to Ba1 from Baa3.

The last rating action on Gannett was July 29, 2010, when Moody's
upgraded the Speculative Grade Liquidity Rating to SGL-2 from SGL-
3.

Gannett, headquartered in McLean, Virginia, is a diversified local
newspaper and broadcast operator that also has ownership interests
in a number of online ventures including a majority stake in
CareerBuilder.  Revenue for the LTM ended June 27, 2010 is
approximately $5.4 billion factoring in recent divestitures.


GENERAL CHEMICAL: Moody's Assigns 'B1' Corporate Family Rating
--------------------------------------------------------------
Moody's Investors Service assigned ratings to General Chemical
Holding Company, a specialty chemical manufacturer, for its
recapitalization.  GCHC was assigned a B1 Corporate Family Rating.
The existing ratings of GenTek Holding, LLC, are affirmed.  The
proposed rating outlook is stable.

                         Ratings Rationale

In October 2009, GenTek Inc.was acquired by ASP GT Holding Corp.,
a wholly-owned subsidiary of investment funds managed by American
Securities LLC, a private equity firm.  GCHC has proposed a
refinancing of the existing Credit Facilities with a new
$30 million, 4-year, senior secured revolver and $425 million, 5-
year, senior secured term loan.  The proceeds of which will be
used to 1) refinance the Company's existing credit facilities,
2) fund a $150 million distribution to GCHC shareholders, and
3) pay related fees and expenses.  GCHC's ratings and outlook are
subject to review of the final documentation of the financing and
closing of the transaction as described.

Ratings Assigned:

  -- General Chemical Holding Company Corporate Family Rating --
     B1
  -- Probability of Default Rating -- B1
  -- General Chemical Corporation
  -- $30 million Sr Sec Revolver due 2014 -- B1 (LGD3, 44%)
  -- $425 million Sr Sec Term Loan B due 2015 - -- B1 (LGD3, 44%)

Ratings Affirmed

GenTek Holding, LLC*

  -- $30 million Sr Sec Revolver due 2013 -- B1 (LGD3, 42%)*
  -- $325 million Sr Sec Term Loan B due 2014 -- B1 (LGD3, 42%)*

* these ratings will be withdrawn upon completion of the
  recapitalization

GCHC's BI CFR is weakly positioned in the B1 category and reflects
significant debt leverage, a relatively small revenue base
relative to adjusted debt balances (revenues were $392 million for
the LTM period ending August 30, 2010), negative tangible net
worth and reduced asset profile in its restructured operations.
Debt, when adjusted for Moody's standard adjustments, (including
unfunded pensions of $71 million and capitalized rents of
$10 million) is about $506 million, assuming no borrowings under
GCHC's revolver, a material increase over the $390 million of
adjusted debt when it was initially acquired.  At this level of
debt proforma estimated leverage for 2010 would be about 3.7 times
up from 3.1 times.  In 2009 GCHC benefited from a decrease in raw
material costs while a portion of revenues were contractually set
at prices negotiated when raw material prices were high.  As these
contracts have been renegotiated in 2010, EBITDA has dropped to
more normalized levels and absent debt reduction leverage in 2011
would likely increase.

While GCHC has a small business profile, the rating reflects the
less cyclical nature of the company's water treatment revenue
base, improved financial performance in recent years, and free
cash flow generation used for debt reduction.  In addition, the
rating recognizes the potential benefits from a number of
restructuring and cost-cutting initiatives that the company has
undertaken, as well as the prospect of reduced levels of capital
spending that should aid in the generation of free cash flow for
debt reduction.

GCHC's B1 CFR also takes into consideration the sponsor's initial
publicly stated focus on debt reduction, a business strategy less
focused on driving market share growth and more on improving free
cash flow with proceeds to be used for de-levering.  While some
debt reduction occurred since October 2009, this transaction
suggests a need for a renewed focus on debt reduction.

The rating outlook for GCHC is stable.  Factors that could have
negative rating implications include a failure to maintain
historical margins as raw material prices decrease and
deterioration in its key end-market conditions.  Factors that
could have positive rating implications include a substantial
improvement in financial performance and meaningful permanent debt
reductions.

GCHC, after a business segment restructuring of GenTek Inc.'s
assets, is a company that operates in three business segments.
The largest segment, with some 73% of revenues (for the LTM period
ending August 31, 2010), is the water treatment segment.  This
segment provides inorganic coagulants for water treatment
applications to customers that include municipalities and
industrial users for primarily paper making applications.  The
municipal customers supply agreements are often structured with
one year terms based on sealed bids; while, the Industrial
agreements are negotiated at varying lengths.  Moody's project
revenues from continuing operations for the year ending
December 31, 2010, will approach $400 million and EBITDA will be
well above $100 million.

The B1 rating on the senior secured revolver and term loan B
reflects their dominant position in the company's debt structure,
relative proximity to the chemical operating assets, being issued
from GenTek Holding, LLC, and benefits of the collateral package.
The facility will be secured by a first priority lien on the
capital stock as well as all domestic assets of the company and
its subsidiaries, and will be guaranteed on a senior secured basis
by all current and future domestic subsidiaries.  GCHC is also
expected to guarantee the credit facilities.


GLIMCHER REALTY: Moody's Gives Stable Outlook; Affirms 'B2' Rating
------------------------------------------------------------------
Moody's Investors Service revised the rating outlook for Glimcher
Realty Trust to stable from negative.  The REIT's B2 preferred
rating was affirmed.  According to the rating agency, the revised
outlook reflects an improved liquidity position as well as better
prospects for the company's growth and credit profile.

According to Moody's, Glimcher's ability to access capital and
stabilize its liquidity position were instrumental in its improved
rating outlook.  The issuer has tapped the common equity,
preferred equity and CMBS markets.  It has also raised capital
through asset contributions to joint ventures.  In addition, it
was able to negotiate a longer term for its credit facility,
although this was in exchange for a smaller commitment and
mandatory pay-downs.  Importantly, the company has no major debt
maturities remaining this year.  Finally, Glimcher's malls exhibit
good quality and average occupancy is solid at nearly 93%.

Nonetheless, Glimcher's credit metrics remain well below
investment grade.  Effective leverage (debt + preferred equity /
gross assets) has improved to 71.4% as of 2Q10 from 76.4% as of
2Q09 and net debt / EBITDA measured 8.7x compared to 9.6x
respectively, however leverage remains among the highest of the
retail REITs rated by Moody's.  Secured debt is also high,
limiting financial flexibility, at 58% of gross assets.  Fixed
charge coverage is low at 1.4x, or 1.2x including principal
amortization.

Moody's would likely upgrade Glimcher's rating should it reduce
leverage metrics below 8.5x net debt / EBITDA and effective
leverage below 65% of gross assets, as well as achieve fixed
charge coverage of 1.7x or better.  Conversely, Moody's would
likely downgrade Glimcher's rating should the REIT's fixed charge
coverage fall below current levels, effective leverage reach 80%
of gross assets or net debt / EBITDA rise over 10x.

This rating was affirmed with a stable outlook:

* Glimcher Realty Trust -- B2 preferred rating.

Moody's most recent rating activity with respect to Glimcher was
on September 18, 2009 when the rating agency lowered the preferred
equity rating for Glimcher Realty Trust to B2 from B1 and
maintained its negative rating outlook.

Glimcher Realty Trust is a real estate investment trust based in
Columbus, Ohio which owns, manages, acquires and develops malls,
which include enclosed regional malls and open-air lifestyle
centers as well as community centers.  Glimcher(R) is a registered
trademark of Glimcher Realty Trust.


GRAY TV: Bank Debt Trades at 4% Off in Secondary Market
-------------------------------------------------------
Participations in a syndicated loan under which Gray
Communications System, presently known as Gray Television, Inc.,
is a borrower traded in the secondary market at 95.63 cents-on-
the-dollar during the week ended Friday, September 24, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.56
percentage points from the previous week, The Journal relates.
The Company pays 150 basis points above LIBOR to borrow under the
facility.  The bank loan matures on December 21, 2014, and carries
Moody's B2 rating and Standard & Poor's B rating.  The loan is one
of the biggest gainers and losers among 215 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Formerly known as Gray Communications System, Atlanta, Georgia-
based Gray Television, Inc., is a television broadcast company.
Gray currently operates 36 television stations serving 30 markets.
Each of the stations are affiliated with either CBS (17 stations),
NBC (10 stations), ABC (8 stations) or FOX (1 station).  In
addition, Gray currently operates 38 digital second channels
including 1 ABC, 4 Fox, 7 CW, 16 MyNetworkTV and 1 Universal
Sports Network affiliates plus 8 local news/weather channels and 1
"independent" channel in certain of its existing markets.

Gray Television carries 'CCC' issuer credit ratings from Standard
& Poor's and 'Caa1' corporate family rating from Moody's.


GREAT EASTERN: Weiss Gives Fla. Bank Very Weak E+ Rating
--------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Great
Eastern Bank of Florida based in Miami, Fla.  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
June 30, 2010, the institution's balance sheet showed
$65.9 million in assets.


GROVE STREET: Committee Taps Benesch Friedlander as its Counsel
---------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
case of Grove Street Realty Urban Renewal, LLC, asks the U.S.
Bankruptcy Court for the District of New Jersey for permission to
employ Benesch, Friedlander, Coplan & Aronoff LLP, as its counsel.

Benesch will, among other things:

   -- advice the Committee of its rights, powers and duties in the
      Chapter 11 case of the Debtor;

   -- attend all Committee meetings; and

   -- represent the Committee's interest in all negotiations and
      discussions with counsel for the Debtor.

The hourly rates of Benesch's personnel are:

     Raymond H. Lemisch, partner               $595
     Scott B. Lepene, associate                $290
     Elizabeth Hein, paralegal                 $230

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

The firm can be reached at:

     Raymond H. Lemisch, Esq.
     BENESCH, FRIEDLANDER, COPLAN & ARONOFF LLP
     222 Delaware Avenue, Suite 801
     Wilmington, DE 19801
     Tel: (302) 442-7010
     Fax: (302) 442-7012

                        About Grove Street

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

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


HASTINGS STATE: Weiss Gives Neb. Bank Very Weak E- Rating
---------------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to Hastings
State Bank based in Hastings, Neb.  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
June 30, 2010, the institution's balance sheet showed
$142.1 million in assets.


HAVEN TRUST BANK: Closed; First Southern Bank Assumes All Deposits
------------------------------------------------------------------
Haven Trust Bank Florida of Ponte Vedra Beach, Fla., was closed on
Friday, September 24, 2010, by the Florida Office of Financial
Regulation, which appointed the Federal Deposit Insurance
Corporation as receiver.  To protect the depositors, the FDIC
entered into a purchase and assumption agreement with First
Southern Bank of Boca Raton, Fla., to assume all of the deposits
of Haven Trust Bank Florida.

The two branches of Haven Trust Bank Florida will reopen during
normal business hours as branches of First Southern Bank.
Depositors of Haven Trust Bank Florida will automatically become
depositors of First Southern Bank.  Deposits will continue to be
insured by the FDIC, so there is no need for customers to change
their banking relationship in order to retain their deposit
insurance coverage.  Customers of Haven Trust Bank Florida should
continue to use their existing branch until they receive notice
from First Southern Bank that it has completed systems changes to
allow other First Southern Bank branches to process their accounts
as well.

As of June 30, 2010, Haven Trust Bank Florida had around
$148.6 million in total assets and $133.6 million in total
deposits.  First Southern Bank did not pay the FDIC a premium for
the deposits of Haven Trust Bank Florida.  In addition to assuming
all of the deposits of the failed bank, First Southern Bank agreed
to purchase essentially all of the assets.

The FDIC and First Southern Bank entered into a loss-share
transaction on $127.3 million of Haven Trust Bank Florida's
assets.  First Southern Bank will share in the losses on the asset
pools covered under the loss-share agreement.  The loss-share
transaction is projected to maximize returns on the assets covered
by keeping them in the private sector.  The transaction also is
expected to minimize disruptions for loan customers.  For more
information on loss share, visit:

  http://www.fdic.gov/bank/individual/failed/lossshare/index.html

Customers who have questions about today's transaction can call
the FDIC toll-free at 1-800-430-6165.  Interested parties also can
visit the FDIC's Web site at:

  http://www.fdic.gov/bank/individual/failed/haventrust_fl.html

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $31.9 million.  Compared to other alternatives, First
Southern Bank's acquisition was the least costly resolution for
the FDIC's DIF. Haven Trust Bank Florida is the 126th FDIC-insured
institution to fail in the nation this year, and the twenty-fourth
in Florida.  The last FDIC-insured institution closed in the state
was Horizon Bank, Bradenton, on September 10, 2010.


HAWAIIAN TELCOM: PUC Approves Plan of Reorganization
----------------------------------------------------
Hawaiian Telcom disclosed that the Hawaii Public Utilities
Commission has approved its Plan of Reorganization.  With the
regulatory approval process now completed, the Company will emerge
from bankruptcy with a strong and stable financial position.  The
Company will finalize agreements and documents which are necessary
to exit Chapter 11.  The Company will complete this process and
emerge within thirty days.

"We are extremely pleased with the PUC's approval today, which
concludes the regulatory approval process.  Our Plan of
Reorganization creates a business structure which allows us to
grow and flourish. In the very near future, we will be announcing
and unveiling exciting new plans.  We will continue our focus on
our customers and develop dynamic and innovative products and
services to meet their ever changing needs" said Eric Yeaman,
Hawaiian Telcom's president and CEO.  "Hawaiian Telcom has served
the people and businesses of Hawaii for more than 125 years and we
look forward to beginning an exciting new chapter in our history."

Hawaiian Telcom filed for Chapter 11 Bankruptcy protection in
December 2008.  In June 2009, the Company filed a Plan of
Reorganization that reduced its debt from $1.15 billion to $300
million.  The United States Bankruptcy Court for the District of
Hawaii in Honolulu orally confirmed the Plan in November 2009 and
issued its written confirmation Order on December 30, 2009.

                    About Hawaiian Telcom

Based in Honolulu, Hawaii, Hawaiian Telcom Communications, Inc.
-- http://www.hawaiiantel.com/-- operates a telecommunications
company, which offers an array of telecommunications products and
services including local and long distance service, high-speed
Internet, wireless services, and print directory and Internet
directory services.

The Company and seven of its affiliates filed for Chapter 11
protection on December 1, 2008 (Bankr. D. Del. Lead Case No.
08-13086).  As reported by the TCR on December 30, 2008, Judge
Peter Walsh of the U.S. Bankruptcy Court for the District of
Delaware approved the transfer of the Chapter 11 cases to the U.S.
Bankruptcy Court for the District of Hawaii before Judge Lloyd
King (Bankr. D. Hawaii Lead Case No. 08-02005).

Richard M. Cieri, Esq., Paul M. Basta, Esq., and Christopher J.
Marcus, Esq., at Kirkland & Ellis LLP, represent the Debtors in
their restructuring efforts.  The Debtors proposed Lazard Freres &
Co. LLC as investment banker; Zolfo Cooper Management LLC as
business advisor; Deloitte & Touche LLP as independent auditors;
and Kurztman Carson Consultants LLC as notice and claims agent.
An official committee of unsecured creditors has been appointed
and is represented by Christopher J. Muzzi, Esq., at Moseley Biehl
Tsugawa Lau & Muzzi LLC, in Honolulu, Hawaii.

When the Debtors filed for protection from their creditors, they
disclosed total assets of $1,352,000,000 and total debts of
$1,269,000,000 as of September 30, 2008.

Bankruptcy Judge Lloyd King entered on December 30, 2009, an order
confirming a plan of reorganization for Hawaiian Telcom.


HEALTHSPRING INC: Moody's Assigns 'Ba3' Rating on Senior Debt
-------------------------------------------------------------
Moody's Investors Service has assigned Ba3 senior secured debt
ratings to HealthSpring, Inc.'s two new term loans totaling
$400 million.  The proceeds from these loans, along with cash on
hand and an additional $100 million draw down on an existing
revolving credit facility will be used to fund HealthSpring's
recently announced agreement to acquire Bravo Health, Inc.  The
targeted completion date for the acquisition is on or before the
end of 2010, pending regulatory approval.  The outlook on the
ratings is stable.

These ratings were assigned with a stable outlook:

* HealthSpring, Inc. -- $150 million new term loan A: senior
  secured debt rating at Ba3; $250 million term loan B: senior
  secured debt rating at Ba3.

                        Ratings Rationale

Moody's had previously affirmed HealthSpring's ratings on
August 27, 2010, after the announcement of the acquisition.  While
HealthSpring will increase its outstanding debt by $500 million to
finance the acquisition, its leverage metrics (Debt to Capital and
Debt to EBITDA) are expected to remain consistent with the current
rating level.  In addition, the rating agency noted that the
acquisition is expected to provide HealthSpring a larger
membership base, providing opportunities for operating
efficiencies in offering its Medicare Advantage products.

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

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


HERBST GAMING: Bank Debt Trades at 45% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Herbst Gaming,
Inc., is a borrower traded in the secondary market at 55.35 cents-
on-the-dollar during the week ended Friday, September 24, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 0.82
percentage points from the previous week, The Journal relates.
The Company pays 187.5 basis points above LIBOR to borrow under
the facility, which matures on December 8, 2013.  Moody's has
withdrawn its rating, while Standard & Poor's does not assign a
rating, on the bank debt.  The loan is one of the biggest gainers
and losers among 215 widely quoted syndicated loans with five or
more bids in secondary trading for the week ended Friday.

As reported by the Troubled Company Reporter on April 12, 2010,
Standard & Poor's withdrew its ratings on Las Vegas-based Herbst
Gaming Inc. at the company's request.

Herbst filed for bankruptcy protection under Chapter 11 of the
U.S. Bankruptcy Code in Nevada on March 22, 2009.  The Bankruptcy
Court issued an order on January 22, 2010, confirming the
company's amended joint plan of reorganization.  Although the plan
became effective February 5, 2010, it will not be fully
implemented until the substantial consummation date; this will not
occur until certain conditions, including approval of gaming
authorities in Nevada, Missouri, and Iowa have been satisfied.

                         About Herbst Gaming

Headquartered in Reno, Nevada, Herbst Gaming, Inc. --
http://www.herbstgaming.com/-- is a diversified gaming company.
The Company and its subsidiaries focus on two business lines, slot
route operations and casino operations.  The Company's route
operations involves the exclusive installation and, as of
September 30, 2009, operation of around 6,300 slot machines in
non-casino locations, such as grocery stores, drug stores,
convenience stores, bars and restaurants.  The casino operations
consist of 16 casinos located in Nevada, Iowa and Missouri.

The Company and 17 of its affiliates filed for Chapter 11
protection on March 22, 2009 (Bankr. D. Nev. Lead Case No. 09-
50752).  Thomas H. Fell, Esq., and Gerald M. Gordon, Esq., at
Gordon Silver, represent the Debtors in their restructuring
efforts.  Herbst Gaming had $919.1 million in total assets; and
$33.5 million in total liabilities not subject to compromise and
$1.24 billion in liabilities subject to compromise, resulting in
$361.0 million in stockholders' deficiency as of March 31, 2009.

At December 31, 2009, Herbst Gaming, Inc., had $612.8 million in
total assets and $1.232 billion in total liabilities.  Cash and
cash equivalents were $32.6 million at December 31, 2009.


HERITAGE FIRST: Weiss Gives Ga. Bank Very Weak E Rating
-------------------------------------------------------
Weiss Ratings has assigned its "very weak" E rating to Heritage
First Bank based in Rome, Ga.  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
June 30, 2010, the institution's balance sheet showed $116 million
in assets.


HERITAGE CONSOLIDATED: Asks for OK of Plan Support Pact
-------------------------------------------------------
Heritage Consolidated LLC, et al., ask the U.S. Bankruptcy Court
for the Northern District of Texas to approve the plan support
agreement, sale procedures and bid protections in connection with
sale of assets.

Under the plan of reorganization, the Debtors propose to, among
other things, effectuate the sale and transfer of assets under the
purchase and sale agreement dated as of September 7, 2010, by and
among Permian Atlantis LLC, Permian Phoenix LLC and the Debtors
subject to higher and better offers.  A copy of the agreement is
available for free at:

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

Under the Purchase and Sale Agreement, the Permian Entities agree
to serve as the stalking horse bidder with respect to certain
assets and to purchase those assets free and clear of any and all
liens, claims, rights, interests, and encumbrances except as
otherwise provided under the Plan.  Under the Purchase and Sale
Agreement, the Permian Entities generally agree to assume
substantial claims of CIT Capital and the secured lender and to
satisfy substantial claims of Heritage Standard Corporation under
its joint operating agreements.

If the qualified bid is determined to be the highest and best bid
and the bid provides for the consummation of the sale through a
stand-alone sale hearing, the Plan may be withdrawn upon the
closing of the sale.  If the sale doesn't close or if the Plan
doesn't go effective, then, at the option of CIT Capital, the
Debtors must pursue the transaction under a back-up purchase and
sale agreement for non-Section 6 assets by and among the Permian
Entities and the Debtors on terms similar to those set forth in
the Purchase and Sale Agreement and for consideration including
the assumption or other satisfaction of approximately $12 million
of the lender secured claim and one-quarter of the DIP claim, and
the payment of up to $3.56 million in satisfaction of all claims
under the Non-Section 6 JOAs.

In connection with the Plan, Disclosure Statement, and Purchase
and Sale Agreement, the Debtors, the Permian Entities, CIT
Capital, Cross Canyon and Michael B. Wisenbaker executed the Plan
Support Agreement dated as of September 14, 2010, under which
those parties agreed to, among other things, support the sale and
confirmation of the Plan.  A copy of the agreement is available
for free at:

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

The Debtors request authority to pay the Permian Entities $800,000
plus reimbursement of actual and reasonable out-of-pocket expenses
of no more than $400,000 if the conditions set forth in the sale
procedures are satisfied.  A copy of the procedures is available
for free at:

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

The Debtors propose that the Break-Up Fee constitute an
administrative expense claim against any Debtor.  The Break-Up Fee
is approximately 3% of the consideration to be received by Debtors
under the Purchase and Sale Agreement.

The Debtors request that, at the confirmation hearing or sale
hearing, the Court will consider approval of the Back-Up Purchase
and Sale Agreement which, at the election of CIT Capital, may be
effectuated without further court order as (a) a primary
transaction in the event that the sale is denied or the sale is
not approved on or before December 13, 2010; or (b) a back-up or
secondary transaction under the Back-Up Bidders section of the
Sale Procedures in the event that the Sale is approved but does
not close on or before December 28, 2010.

CIT Capital is represented by Vinson & Elkins LLP.

                    About Heritage Consolidated

Heritage Consolidated LLC filed a Chapter 11 petition (Bankr. N.D.
Tex. Case No. 10-36484) on September 14, 2010, in Dallas, Texas.
Its affiliate, Heritage Standard Corporation, also filed for
Chapter 11 (Bankr. N.D. Tex. Case No. 10-36485).  The Debtors each
listed assets and debts of $10 million to $50 million.  Kevin D.
McCullough, Esq., in Dallas, Texas, serves as counsel to the
Debtors.


HHI HOLDINGS: Moody's Affirms Corporate Family Rating at 'B2'
-------------------------------------------------------------
Moody's Investors Service affirmed the Corporate Family and
Probability of Default Ratings of HHI Holdings, LLC, at B2,
following the company's announcement of increasing its senior
secured term loan facility to $227.5 million from $197 million.
In a related action the rating on the senior secured term loan was
affirmed at B3.  The rating outlook remains stable.

HHI plans to use the $30 million of proceeds from the increase in
the senior secured term loan along with approximately $13 million
of funding under the asset based revolving credit facility, and
cash on hand, to fund an additional $50 million special dividend
distribution to the company's shareholders (including the
company's sponsor, KPS Capital Partners) and pay related fees and
expenses.  The total distribution to company's shareholders
remains consistent with Moody's initial expectation in Moody's
initial rating in February 2010.

The affirmation of HHI's B2 Corporate Family Rating reflects
Moody's view that while the company's leverage following the
incremental shareholder distribution increases, it remains strong
for the assigned ratings, and the company's overall risk profile
remains unchanged.  HHI's performance during the first half of
2010 has outperformed Moody's expectations.  This performance has
been supported by continued improvement in North American
automotive production through the company's second quarter and
successful integration of the acquired businesses.  The CFR
continues to embody the company's modest size, high regional
exposure to North America, and high customer concentrations to the
Detroit-3 (63% of revenues).

The stable ratings outlook continues to incorporate Moody's
expectation that HHI will continue to benefit from recovering
industry conditions over the near-term resulting in operating
performance sufficient to support the increased term loan.

HHI is anticipated to have good liquidity over the near-term
supported by a $100 million asset based revolving credit facility
and expected free cash flow generation.  Cash balances are
expected to be modest following the dividend transaction.  The
$100 million asset based revolving credit facility (unrated by
Moody's) is expected have nominal amounts of funding following the
shareholder dividend.  Moody's believes the facility will remain
largely unused, given the expected strong operating margins
leading to the likely generation of positive free cash flow over
the next twelve months, inclusive of small amounts of required
amortization under the term loan.  Moody's notes that the
company's current assets permit access to the full revolving
credit facility.  Financial covenant cushions are expected to
support adequate headroom for access to the revolver's
availability over the near-term.  Alternate liquidity is limited
as essentially all of the company's assets secure the credit
facilities.

The rating and/or outlook could improve if HHI were to demonstrate
a continuation of its record of successful integration of recent
acquisitions, maintenance of its strong niche market position, and
revenue participation in the industry's recovery.  Further
customer and industry diversification could also result in
positive ratings momentum.

The outlook or rating could be lowered if North American
automotive production levels do not recover as anticipated,
resulting in substantially weaker profitability or a deterioration
in liquidity.  If operations were to weaken such that debt to
EBITDA were to increase over 4.5 times or free cash flow
generation was not realized, the company's rating and/or outlook
could be lowered.

These ratings were affirmed:

  -- Corporate Family Rating, B2;

  -- Probability of Default, B2;

  -- B3 (LGD4, 59%), for the $227.5 million senior secured term
     loan

The last rating action was on March 12, 2010, when the B2
Corporate Family Rating was affirmed.

HHI Holdings, LLC, headquartered in Royal Oak, Michigan, is a full
service supplier of highly engineered metal forgings and machined
components, wheel bearings, and powdered metal engine and
transmission components for automotive and industrial customers.
Operations are conducted through three subsidiaries: HHI Forging
Holdings, LLC; Bearing Holdings, LLC, and Cloyes Gear and
Products, Inc.


HIGHLAND COMMUNITY: Weiss Gives Ill. Bank Very Weak E Rating
------------------------------------------------------------
Weiss Ratings has assigned its "very weak" E rating to Highland
Community Bank based in Chicago, Ill.  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
June 30, 2010, the institution's balance sheet showed $119 million
in assets.


HILDA GONZALEZ: Case Summary & 15 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Hilda B. Pino Gonzalez
          aka BELKYS PINO
        Urb. Las Colinas B-58
        Guaynabo, PR 00969

Bankruptcy Case No.: 10-08767

Chapter 11 Petition Date: September 22, 2010

Court: U.S. Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Debtor's Counsel: Carmen D. Conde Torres, Esq.
                  254 San Jose Street, 5th Floor
                  San Juan, PR 00901-1523
                  Tel: (787) 729-2900
                  Fax: (787) 729-2203
                  E-mail: notices@condelaw.com

Scheduled Assets: $785,441

Scheduled Debts: $1,382,230

A list of the Debtor's 15 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/prb10-08767.pdf


HILEX POLY: Moody's Assigns 'B3' Corporate Family Rating
--------------------------------------------------------
Moody's Investors Service assigned a B3 corporate family rating to
Hilex Poly Co. LLC with a stable ratings outlook.  Moody's also
rated assigned a B3 rating to the new $160 million senior secured
second lien term loan facility.  The proceeds of the new issuance
will be used to refinance outstanding debt and pay a dividend to
shareholders.

Moody's took this action:

* Assigned Corporate Family rating, B3

* Assigned Probability of Default rating, B3

* Assigned $160 million senior secured term loan facility due
  2016, B3 (LGD 4, 57%)

The ratings outlook is stable.

                         Ratings Rationale

The B3 Corporate Family Rating reflects Hilex's narrow operating
margins due to the largely commoditized product line, the
fragmented industry and high customer concentration.
Approximately 94% of the company's sales are plastic t-shirt bags.
Top 10 customers generate approximately 60% of revenue and Wal-
Mart is the largest customer.  The rating is also constrained by
the company's small size, lack of pricing power, short history of
operating improvements and new management and ownership post
bankruptcy.

Strengths in the company's profile include its leading position in
the industry, long standing customer relationships with well-
established companies.  Between 70%-75% of Hilex's sales stem from
economically resistant food and drug retailers.  The company also
benefits from completed restructuring and cost cutting
initiatives, improved contract structure with raw material cost
pass-through provisions, and new and renewed anti-dumping tariffs
on Asian imports.  Approximately 72% of top 20 customers have
monthly pass-throughs for resin, while the rest have quarterly
pass-throughs.  Hilex also owns a recycling plant which helps
source recycled material and reduces the cost of that material to
the company.

                What Could Change the Rating -- Up

The ratings could be upgraded if Hilex demonstrates an ability to
sustain the recent improvement in credit metrics.  An upgrade
would also be contingent upon the maintenance of adequate
liquidity and stability in the operating and competitive
environment.  Specifically, the ratings could be upgraded if the
EBIT margin increases to the high single digits, EBIT to Gross
Interest Expense increases above 1.3 times and Debt to EBITDA
remains below 5.7 times.

               What Could Change the Rating -- Down

The ratings or the outlook could be revised downward if liquidity
or operating performance decline or there is a deterioration in
the operating and competitive environment.  The ratings could also
be downgraded if there is significant debt financed acquisition or
another dividend recapitalization.  Specifically, the ratings
could be downgraded if FCF to Debt falls below 3%, Debt to EBITDA
increases above 6.5 times and the EBIT margin falls below 3.5%.


HILEX POLY: S&P Assigns Preliminary Corporate Credit Rating at 'B'
------------------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned its 'B'
preliminary corporate credit rating to plastic bag producer Hilex
Poly Co. LLC.  The outlook is stable.

S&P also assigned a 'B' preliminary issue-level rating and a '3'
preliminary recovery rating to the company's proposed $160 million
first-lien secured term loan, based on preliminary terms and
conditions.  These ratings indicate S&P's expectation that term
loan lenders would experience meaningful (50% to 70%) recovery in
a payment default scenario.  Proceeds from the $160 million term
loan will be used to repay existing debt, fund a dividend to
shareholders, and for ongoing working capital purposes.  As part
of the financing plan, the company is also placing an unrated
$25 million asset-based revolving credit facility.

"The preliminary ratings on Hilex reflect a vulnerable business
position in a niche segment for plastic bags and film products
used mainly in high-volume grocery stores, and an aggressive
financial profile," said Standard & Poor's credit analyst Liley
Mehta.

Business risks include a narrow product mix, heavy customer
concentration, and the threat of imports and legislative actions
banning the use of plastic bags in certain states.  In addition, a
shifting consumer preference toward paper and reusable bags is an
increasing risk over the long term.  These risk factors are partly
offset by the company's favorable market share, competitive
advantages from the relatively large scale of operations, in-house
recycling capabilities, effective raw material pass through
provisions, and an improved cost position as a result of
restructuring actions completed in the past few years.


HOME FEDERAL: Weiss Gives Fla. Bank Very Weak E- Rating
-------------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to Home
Federal Bank of Hollywood based in Hallandale Beach, Fla.  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 June 30, 2010, the institution's balance sheet
showed $82.1 million in assets.


HOSIAN AZIZIAN: Golden Security Bank Has $250,000 Secured Claim
---------------------------------------------------------------
The Hon. Alan Jaroslovsky held the second amended chapter 11 plan
of Hosian and Fatemeh Azizian will be confirmed if amended to
provide that Golden Security Bank will have a secured claim of
$250,000 and will be paid interest at the rate of 8.75%.

Judge Jaroslovsky said the Azizians' Second Amended Plan meets all
the requirements of Sec. 1129(a) of the Bankruptcy Code except
Sec. 1129(a)(8) because the Class 10 claimant, Golden Security
Bank, has rejected the plan.  The Plan calls for the Bank to
retain its lien on the gas station premises to the extent it is
secured.  It is to receive monthly payments of principal and
interest at the rate of 7%, amortized over a 30-year period and
all due an payable ten years after confirmation.  The Bank objects
that the debtors undervalue its security and that the interest
rate is too low.

The Azizians' expert values the gas station at $200,000 to
$250,000.  The Bank's expert values the gas station at $880,000.
The court finds that the value of the gas station is $250,000.

A copy of the Court's opinion is available at:

     http://www.leagle.com/unsecure/page.htm?shortname=inbco20100922598

Based in Belvedere Tiburon, California, Hosain Azizian and Fatemeh
H. Azizian own and operate a small gas station and convenience
store in Vallejo, California.  Prior to bankruptcy, their business
suffered due to re-routing of the local highway resulting in more
difficult access by motorists.

The Azizian filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Calif. Case No. 09-13181) on September 29, 2009.  David N.
Chandler, Esq., in Santa Rosa, California, serves as bankruptcy
counsel.  According to the schedules, the Joint Debtors had
$1,768,845 in assets and $4,116,891 in liabilities.


HP DISTRIBUTION: Auxiers Suit Remanded to State Court
-----------------------------------------------------
The Hon. Robert E. Nugent of the U.S. Bankruptcy Court for the
District of Kansas granted the motion by James and Barbara Auxier
to remand an adversary proceeding against XTRA Lease L.L.C. to the
Circuit Court of Platte County, Missouri.  The Auxiers sued XTRA
in February 2010 for damages Mr. Auxier sustained when he fell
from a semi-tractor trailer leased by XTRA to HP Distribution,
Inc.  The Auxiers demanded a jury trial.

HP has previously asserted in a separate declaratory action that
its relationship with XTRA should be recharacterized as a security
interest instead of a true lease.  As a result of HP taking that
position, XTRA removed the State Case, first to the U.S.
Bankruptcy Court for the Western District of Missouri which, in
turn, transferred the resulting adversary proceeding to the Kansas
Bankruptcy Court.  XTRA claims that because the ownership of the
trailer may be in dispute and because HP is obligated under the
"lease" to indemnify XTRA for the Auxiers' damages, the State Case
is closely related to the bankruptcy case and is a case over which
the Kansas Court has jurisdiction.  The Auxiers contend that the
Kansas Court lacks subject matter jurisdiction because the State
Case is not "related to" HP's bankruptcy case and moreover, even
if there were "related to" jurisdiction, the Kansas Court is
required to exercise mandatory abstention.

On August 31, 2010, HP filed a motion for approval of a compromise
of the Lease Adversary between it and XTRA that would require HP
to assume XTRA's lease and dismiss the declaratory action.  The
September 21 objection deadline to the intended compromise has
passed without an objection being filed and the Kansas Court will
enter an appropriate Order approving the compromise of the Lease
Adversary.

"With the apparent agreement that XTRA's relationship with HP is
that of a lessor under the pending compromise of the Lease
Adversary, the Court can conclude that XTRA owns the subject
trailer on which Auxier was allegedly injured.  XTRA is a Missouri
entity and Auxier a Missouri domiciliary.  There is no diversity
of citizenship and the only basis for this proceeding being in
federal court is this bankruptcy case," Judge Nugent held.

"Assuming arguendo that the Court has related to jurisdiction over
the State Case, there is no reason why this Court should not
abstain from hearing this non-core proceeding and many reasons why
it should: in the absence of the parties' consent, this Court
simply cannot try the jury trial demanded by Auxier.  Moreover,
the Court is satisfied that the State Case can be timely
adjudicated in the Circuit Court of Platte County where it was
commenced and that its proceeding forward there will not adversely
affect the administration of HP's bankruptcy case," Judge Nugent
said.

A copy of the Kansas Court's order is available at:

     http://www.leagle.com/unsecure/page.htm?shortname=inbco20100922602

Hitchin Post Steak Co. is a decade-old meat processor based in
Kansas City, Kansas.  Hitchin Post and HP Distribution, Inc.,
filed for Chapter 11 bankruptcy protection (Bankr. D. Kans. Lead
Case No. 09-12308) on July 21, 2009.  Chief Judge Robert E. Nugent
presides over the case.  Mark J. Lazzo, Esq., in Wichita, Kansas,
serves as bankruptcy counsel.  Hitchin estimated under $50,000 in
assets and $1 million to $10 million in debts.


IMPERIAL CAPITAL: Opposes FDIC's $48 Million Capital Demand
-----------------------------------------------------------
Imperial Capital Bancorp Inc. is protesting a Federal Deposit
Insurance Corp.-imposed $48 million capital requirement the bank
said would force it into Chapter 7, Bankruptcy Law360 reports.

Imperial argued it never agreed to the capital maintenance claim
the FDIC wants to impose on it and that the FDIC's attempts to
quash its objection fail, according to Law360.

                       About Imperial Capital

La Jolla, California-based Imperial Capital Bancorp, Inc., filed
for Chapter 11 bankruptcy protection on December 18, 2009 (Bankr.
S.D. Calif. Case No. 09-19431).  Gregory K. Jones, Esq., at
Stutman, Treister & Glatt, P.C., assists the Company in its
restructuring effort.  The Company estimated $10 million to
$50 million in assets and up to $100 million in debts in its
Chapter 11 petition.


INNKEEPERS USA: Midland Wants Cash Use Order Reconsidered
---------------------------------------------------------
Midland Loan Services, Inc., asks the U.S. Bankruptcy Court to
reconsider its final order authorizing Innkeepers USA Trust and
its units to use their lenders' cash collateral entered on
September 2, 2010.

Lenard Parkins, Esq., at Haynes and Boone, LLP, in New York,
argues that the Cash Collateral Order includes two provisions that
should be reconsidered:

  (a) a "Carve Out" of $5.5 million that would be a reduction in
      the collateral of secured creditors like Midland; and

  (b) paragraph 6(c) of the Cash Collateral Order that indicates
      that the provisions of Section 507(b) of the U.S. Bankruptcy
      Code regarding claims arising for the failure of adequate
      protection does not apply in the bankruptcy cases.

Mr. Parkins argues that the two provisions are improper, and
should be excised from the Cash Collateral Order.  He contends
that the Carve Out, as it might be applied to Midland and its
collateral, should be excised because the Debtors have not
satisfied their burden to justify its amount, to justify its
usage, to show Midland's consent or to prove that there is any
adequate protection for the funds used to pay estate professional
fees without Midland's consent.

The language in Paragraph 6(c) would impair the application of
Section 507(b) by precluding certain property of the estate from
being available to satisfy claims, Mr. Parkins asserts.  He
insists that the provision of the Cash Collateral Order that
purports to earmark, isolate or exempt certain assets from being
used to satisfy Section 507(b) claims conflicts with other
provisions of the Cash Collateral order, is without any legal
underpinning, and should likewise be excised from the Cash
Collateral Order.

                   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: Proposes to Assume Marriott Assurance Agreement
---------------------------------------------------------------
Innkeepers USA Trust and its units seek the Court's authority to
assume an agreement for adequate assurance of completion of
certain property improvement programs (PIPs) and assumption of
agreements, dated June 25, 2010, between the Debtors and Marriott
International, Inc.

The Adequate Assurance Agreement extends the Debtors' deadlines to
comply with certain property improvement plans required under
applicable franchise agreements with Marriott.  Previously,
Marriott had issued notices of default with respect to 23 out of
the Debtors' 44 franchise agreements with Marriott relating to the
Debtors' failure to perform certain PIP obligations.

After the Debtors filed the Chapter 11 cases, a dispute between
the Debtors and Marriott arose over the treatment of a franchise
agreement for one of the Debtors' hotels located in Troy,
Michigan, which was not covered by the Adequate Assurance
Agreement.  The parties subsequently filed a sealed stipulation to
settle Marriott's motion for limited modification of the automatic
stay.

In consideration for the provisions of the stipulation, the
Debtors agreed to seek authority from the Court to assume the
Adequate Assurance Agreement, which provides that, for so long as
the Debtors are in compliance with the parties' PIP completion
schedule, Marriott will:

  (a) forbear from exercising its remedies under its franchise
      agreements with the Debtors arising out of or in
      connection with its default letters, as defined in the
      Adequate Assurance Agreement; and

  (b) forbear from seeking relief from the automatic stay to
      exercise those remedies.

In addition, Marriott agreed to consent to the Debtors' assumption
of (i) those defaulted franchise agreements, excluding the Troy
Central Franchise Agreement, if and when the Debtors complete the
PIP for the particular Marriott hotel, and (ii) all Marriott
franchise agreements, both defaulted and non-defaulted franchise
agreements, again excluding the Troy Central Franchise Agreement,
if the Debtors comply with the PIP Completion Schedule as of the
time the Debtors file a disclosure statement in the Chapter 11
Cases.

                   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).


INTEGRITY FIRST: Weiss Gives Wisc. Bank Very Weak E Rating
----------------------------------------------------------
Weiss Ratings has assigned its "very weak" E rating to Integrity
First Bank based in Wausau, Wisc.  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
June 30, 2010, the institution's balance sheet showed
$119.4 million in assets.


KENDALL STATE: Weiss Gives Kan. Bank Very Weak E+ Rating
--------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Kendall
State Bank based in Valley Falls, Kan.  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
June 30, 2010, the institution's balance sheet showed
$35.5 million in assets.


KENNETH ANDERSON: Reorganization Case Transferred to Utah District
------------------------------------------------------------------
The Hon. Thomas C. Holman of the U.S. Bankruptcy Court for the
Eastern District of California entered an order transferring the
Chapter 11 case of Kenneth Roderick Anderson to the U.S.
Bankruptcy Court for the District of Utah.

Creditors Beatrice M. Lowney, John J. Lowney, Annette A. Lee,
Dwendon M. Lee sought for the dismissal or for transfer of the
Debtor's case.

Hurricane, Utah-based Kenneth Roderick Anderson -- dba Pah Tempe
Hot Springs Resort,Zion VRC Zip Tour LLC, The Roderick Family
Trust, and Kolob Mountain Ranch Resort -- filed for Chapter 11
protection on August 18, 2010 (Bankr. D. Utah Case No. 10-41789).
The case was subsequently transferred to California (Bankr. C.D.
Calif. Case No. 10-31252).

Helga A. White, Esq., who has an office in Auburn, California,
assists the Debtor in his restructuring effort.  According to his
schedules, the Debtor disclosed $36,297,305 in assets and
$5,979,064 in liabilities as of the Petition Date.


KENNETH HALE: No Fees for U.S. Trustee from Loan Transfer
---------------------------------------------------------
WestLaw reports that a chapter 11 debtor-in-possession had no
interest in, or control over, a postpetition lender's decision to
purchase and accept the assignment of prepetition loans secured by
the debtor's real property and no interest in, or control over,
the money used by the lender to acquire the loans.  Therefore, the
inter-creditor transfer of debt was not a "disbursement" upon
which the United States Trustee was entitled to collect quarterly
fees, even if the resulting debt restructuring was a part of a
larger agreement negotiated with the debtor, and even if the
restructuring was done on behalf of and for the debtor's benefit.
In re Hale, --- B.R. ----, 2010 WL 3554720 (Bankr. E.D. Cal.)
(Lee, J.).

Kenneth R. Hale operated a farming enterprise known as Double H
Farms and filed a chapter 12 petition (Bankr. E.D. Calif. Case No.
09-13995) on May 1, 2009, after a lender sued in state court.  For
eligibility reasons, the case was converted to chapter 11 on
May 6, 2009.  Thereafter, the Debtor continued to oversee the
farming operation in his capacity as a debtor-in-possession.  The
Debtor confirmed his chapter 11 plan on June 25, 2010.


KENNETH JAMES EGLI: E.D. Wash. Ct. Confirms Amended Plan
--------------------------------------------------------
The Hon. Frank L. Kurtz on September 22 confirmed the Amended Plan
of Reorganization filed July 7, by debtors Kenneth James & Leslie
Anne Egli.  The Court held that confirmation of the Plan is not
likely to be followed by the liquidation, or the need for further
financial reorganization of the Debtors.  Creditors were given
Notice of Confirmation and no objections were made, or if made,
have been resolved.  A copy of the Confirmation Order is available
at:

     http://www.leagle.com/unsecure/page.htm?shortname=inbco20100922617

Based in Kennewick, Washington, Kenneth James and Leslie Anne Egli
-- dba Ken and Leslie Egli Family, LLC, La Piel 2 LLC dba
Dermacare of Tri-Cities, and fdba La Piel 1, LCC -- filed for
Chapter 11 bankruptcy protection (Bankr. E.D. Wash. Case No. 09-
06143) on November 2, 2009.  Dan O'Rourke, Esq., at Southwell &
O'Rourke, in Spokane, Washington, serves as bankruptcy counsel.
According to the schedules, the Joint Debtors had assets of
$4,506,727, and debts of $1,383,594 as of the petition date.


KENNETH STEVENSON: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Kenneth L. Stevenson
          dba T & K Enterprises
              T & K Auto Sales
        Inmate No.: 227409A
        Yuma County Adult Detention Facilty
        YUMA, AZ 85364

Bankruptcy Case No.: 10-30556

Chapter 11 Petition Date: September 23, 2010

Court: U.S. Bankruptcy Court
       District of Arizona (Yuma)

Judge: James M. Marlar

Debtor's Counsel: Robert M. Cook, Esq.
                  LAW OFFICES OF ROBERT M. COOK PLLC
                  219 W. Second Street
                  Yuma, AZ 85364
                  Tel: (928) 782-7771
                  Fax: (928) 782-7778
                  E-mail: robertmcook@yahoo.com

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

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

A list of the Debtor's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/azb10-30556.pdf


LANDAMERICA FINANCIAL: Severance Pay Earned on Termination Date
---------------------------------------------------------------
Addressing an issue of apparent first impression for the court,
WestLaw reports that a Virginia bankruptcy court has ruled that a
liquidating trustee's method for calculating the portion of the
severance claims of the Chapter 11 debtors' former employees
entitled to priority treatment under 11 U.S.C. Sec. 507(a)(4),
which prorated the severance pay over the entire period of a
claimant's employment and allowed only the amount that would be
apportioned to the 180 days before the petition date to be given
priority treatment, was inconsistent with the Bankruptcy Code.
Severance pay is "earned," for priority purposes, on the date of
an employee's termination, the court reasoned, agreeing with the
approach followed in the Second Circuit and noting that this is
recognized to be the minority approach.  In re LandAmerica
Financial Group, Inc., --- B.R. ----, 2010 WL 2803808 (Bankr. E.D.
Va.).

                   About LandAmerica Financial

LandAmerica Financial Group, Inc., provides real estate
transaction services with offices nationwide and a vast network of
active agents.  LandAmerica and its affiliates operate through
approximately 700 offices and a network of more than 10,000 active
agents throughout the world, including Mexico, Canada, the
Caribbean, Latin America, Europe, and Asia.

LandAmerica Financial Group and its affiliate LandAmerica 1031
Exchange Services, Inc. filed for Chapter 11 protection Nov. 26,
2008 (Bankr. E.D. Va. Lead Case No. 08-35994).  Attorneys at
Willkie Farr & Gallagher LLP and McGuireWoods LLP serve as co-
counsel.  Zolfo Cooper is the restructuring advisor.  Epiq
Bankruptcy Solutions serves as claims and notice agent.

Attorneys at Akin Gump Strauss Hauer & Feld LLP and Tavenner &
Beran, PLC, serve as counsel to the Creditors Committee of 1031
Exchange.  Bingham McCutchen LLP and LeClair Ryan serve as counsel
to the Creditors Committee of LFG.

In its bankruptcy petition, LFG reported total assets of
$3,325,100,000, and total debts of $2,839,800,000 as of
Sept. 30, 2008.

On March 6, 2009, affiliate LandAmerica Assessment Corporation,
aka National Assessment Corporation, filed its own petition for
Chapter 11 relief.  Affiliate LandAmerica Title Company filed for
for Chapter 11 relief on March 27, 2009.   LandAmerica Credit
Services, Inc., filed for Chapter 11 in July 2009.

LandAmerica filed a Joint Plan of Liquidation on Sept. 9, 2009.
The Bankruptcy Court confirmed that plan on Nov. 23, 2009, and the
plan took effect on Dec. 7, 2009.


LEGACY BANK: Weiss Gives Wisc. Bank Very Weak E- Rating
-------------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to Legacy
Bank based in Milwaukee, Wisc.  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
June 30, 2010, the institution's balance sheet showed
$216.2 million in assets.


LEHMAN BROTHERS: LBIE Extends Proofs of Debt Deadline
-----------------------------------------------------
On 16 June 2010, the Joint Administrators of Lehman Brothers
International Europe announced that they would be testing the
feasibility of the Consensual Approach to the resolution of LBIE's
unsecured creditor claims.

LBIE also informed claimants that if they wished to be considered
for the Consensual Approach, they would need to submit a proof of
debt.  The expectation at the time was that, if the Consensual
Approach was formally launched later this year, a creditor would
need to submit a proof of debt before September 17, 2010, to be
considered for participation.

LBIE has since made significant progress in engaging with
creditors and the Joint Administrators have been greatly
encouraged by the extent of positive interest in the Consensual
Approach.

Over the last few weeks, LBIE has both solicited and received
feedback from counterparties regarding the proposed Consensual
Approach.  A consistent request from many counterparties has been
to extend the deadline of September 17, 2010, in particular given
the complexity of many creditors' positions.  Accordingly, the
Joint Administrators have agreed, in conjunction with the
Unsecured Creditors' Resolution Working Group, a working group
which includes members of the creditors' committee, that the
September 17, 2010 deadline for proof submission will be extended.

The Joint Administrators continue to develop the Consensual
Approach.  In consultation with the UCRWG, they are currently
considering an appropriate date to set as a revised deadline.
The Joint Administrators are also reviewing feedback from
counterparties to assess whether any other refinements may be
desirable in order to proceed.

The Joint Administrators will communicate further developments
regarding the Consensual Approach in their 4th Progress Report,
including an update on the period of extension that will be
allowed for submission of proofs, unless that has been separately
communicated in the intervening period.  The 4th Progress Report
is due to be published on October 14, 2010.  In the meantime,
LBIE's counterparties should continue to finalize their submission
of proofs of debt as soon as possible, as these will be required
in order to comply with the revised timetable, when announced.

Anyone who has questions regarding this update may contact the
Counterparty Communications and Management team at
unsecuredcreditors@lbia-eu.com

                       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: PwC to Appeal UK Court Ruling on Payout
--------------------------------------------------------
PricewaterhouseCoopers LLP is set to appeal against a United
Kingdom court ruling that foiled plans to return around
$2 billion of cash to secured creditors, according to a
September 12, 2010 report by Express.co.uk.

Last month, the U.K. Court of Appeals handed down a ruling that
hedge funds and other unsecured creditors of Lehman Brothers
International Europe should also share the cash.

Fund managers and Lehman account holders would get reduced
payouts from PWC if it failed to get the CA ruling overturned,
Express reported.

The LBIE administrator has yet to make an official announcement
but it will reportedly file the appeal before the September 23
deadline and take its case to the Supreme Court, according to the
report.

                       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: Wants to Reject Revenue Bond Contracts
-------------------------------------------------------
In connection with the issuance of revenue bonds, many state and
local governments or their agencies establish a debt service fund
to accumulate funds to pay debt service on the Revenue Bonds and
a reserve fund to serve as a source of backup for payment of
their debt service obligations on the Revenue Bonds.  Revenue
Bonds are generally issued pursuant to an indenture or similar
agreement between the issuer and a trustee.  The Trustee holds
and administers the Debt Service Fund and the Reserve Fund and
uses the assets of the Debt Service Fund to pay scheduled
interest and principal payments on the Revenue Bonds and the
assets of the Reserve Fund to pay scheduled interest and
principal payments on the Revenue Bonds when sufficient funds are
not otherwise available to the issuer.

The Trustee typically invests the funds in a Debt Service Fund or
a Reserve Fund in certain eligible investments.  The eligible
investments are restricted to qualifying securities, which
generally are high quality securities with short terms to
maturity.  Under the debt service fund agreements and the reserve
fund agreements, generally, Lehman Brothers Special Financing,
Inc., agreed to sell Qualified Securities to the Trustee on
scheduled dates throughout the term of an issuance of Revenue
Bonds at a price that generates a specific fixed rate of return,
thereby enabling the issuer and the Trustee to meet credit
quality and liquidity requirements of the Debt Service Fund or
Reserve Fund without exposure to decreases in interest rates.

LBSF avers that it has been diligently reviewing its executory
contracts to identify contracts that are appropriate for
rejection, and has determined that the Contracts, a list of which
is available for free at http://bankrupt.com/misc/lehm11201.pdf
are not its receivables.

Because the counterparties to the Contracts have not terminated
the Contracts, LBSF is not able to fix its liabilities under the
Contracts unless a Counterparty defaults or until the Contracts
mature in accordance with their terms, which in most cases will
not occur for a long period of time, the Debtors tell the Court.

Accordingly, the Debtors seek Court for authority to permit LBSF
to reject the Contracts.

                       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)


LEONARD ROSS: Section 341(a) Meeting Scheduled for Nov. 8
---------------------------------------------------------
The U.S. Trustee for Region 18 will convene a meeting of Leonard
M. Ross' creditors on November 8, 2010, at 1:15 p.m.  The meeting
will be held at 725 S Figueroa Street, Room 2610, Los Angeles, CA
90017.

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

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

Beverly Hills, California-based Leonard M. Ross, aka Trustee of
Leonard M. Ross Revocable Trust, filed for Chapter 11 bankruptcy
protection on September 15, 2010 (Bankr. C.D. Calif. Case No. 10-
49358).  Robert M. Yaspan, Esq., at the Law Offices of Robert M.
Yaspan, assists the Debtor in his restructuring effort.  The
Debtor estimated his assets at $100 million to $500 million and
debts at $50 million to $100 million as of the Petition Date.

Affiliates Colony Lodging, Inc. (Bankr. C.D. Calif. Case No. 10-
60909), Rossco Plaza, Inc. (Bankr. C.D. Calif. Case No. 10-60917),
LJR Properties, Ltd. (Bankr. C.D. Calif. Case No. 10-60919), Monte
Nido Estates, LLC (Bankr. C.D. Calif. Case No. 10-60920), WM
Properties, Ltd. (Bankr. C.D. Calif. Case No. 10-60918), and
Rossco Holdings, Inc. (Bankr. C.D. Calif. Case No. 10-60953) filed
separate Chapter 11 petitions.


LIBERTY MEDIA: Share Repurchase Won't Affect Moody's 'B1' Rating
----------------------------------------------------------------
Moody's Investors Service said Liberty Media LLC's B1 Corporate
Family Rating, SGL-1 speculative-grade liquidity rating and the
review for possible downgrade of Liberty's B1 senior unsecured
note ratings are not affected by Liberty Media Corporation's
(Liberty's parent) authorization to repurchase up to an additional
$500 million shares of Liberty Capital and announcement that it
intends to transfer/reattribute certain assets and liabilities to
Liberty Starz from LCAPA.

Moody's last rating on action Liberty occurred on June 21, 2010,
when the company's B1 senior unsecured bond ratings and Ba3
Probability of Default Rating were placed on review for possible
downgrade following the company's announcement of plans to spin-
off the Starz and LCAPA tracking stock groups.

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

Liberty, headquartered in Englewood, Colorado, is a holding
company that owns and operates a broad range of electronic
retailing, communications, and entertainment businesses and also
owns equity and debt positions in wide variety of technology,
media and telecommunications companies.  Annual revenue is
approximately $10 billion.


LIBERTY BANK: Weiss Gives Utah Bank Very Weak E Rating
------------------------------------------------------
Weiss Ratings has assigned its "very weak" E rating to Liberty
Bank based in Salt Lake City, Utah  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
June 30, 2010, the institution's balance sheet showed
$13.8 million in assets.


LOEHMANN'S CAPITAL: Seeks to Extend Debt Maturity to 2014
---------------------------------------------------------
Loehmann's Capital Corp. on Friday said it is commencing a private
offer to exchange its outstanding 12% Senior Secured Class A Notes
due 2011, Senior Secured Class A Floating Rate Notes due 2011 and
13% Senior Secured Class B Notes due 2011 for 12% Senior Secured
Class A Notes due 2014, Senior Secured Class A Floating Rate Notes
due 2014 and 13% Senior Secured Class B Notes due 2014.  In
conjunction with the exchange offer, Loehmann's is also soliciting
consents to (i) amend the indenture governing the old notes, along
with other related documents, to add the new series of notes, (ii)
increase the priority lien cap under the lease agreement and
intercreditor agreement to which Loehmann's is a party, and (iii)
waive certain provisions of the indenture, lease agreement,
intercreditor agreement and related documents insofar as such
provisions would otherwise prevent or restrict certain proposed
actions by Loehmann's Operating Co.  Holders tendering old notes
for exchange will be deemed to consent to the proposed amendments
and waivers, and holders may not deliver consents in the consent
solicitation without tendering their old notes for exchange.

The exchange offer and consent solicitation will expire at 11:59
p.m., New York City time, on October 27, 2010.  Eligible holders
that validly tender their old notes and validly consent to the
proposed amendments and waivers at or prior to 11:59 p.m., New
York City time, on October 13, 2010, will receive $1,000 principal
amount of new notes of the same class for each $1,000 principal
amount of their old notes that are accepted for exchange.
Eligible holders that validly tender their old notes and validly
consent to the proposed amendments and waivers after the early
tender date but at or prior to the expiration date will receive
$970 principal amount of new notes of the same class for each
$1,000 principal amount of their old notes that are accepted for
exchange.

Loehmann's has entered into agreements with holders of
approximately 34% of the old notes pursuant to which those holders
have agreed to tender their old notes in the offer and consent to
the amendments and waivers.

The consummation of the exchange offer and consent solicitation
will be subject to customary conditions, including the receipt of
valid and unrevoked tenders of at least a majority in principal
amount of the outstanding old notes, in the case of the consent
solicitation, and at least 97% in principal amount of the
outstanding old notes, in the case of the exchange offer.

Subject to applicable law, the company may terminate or amend,
modify or waive the terms of the exchange offer and consent
solicitation.

The new notes have not been and will not be registered under the
Securities Act of 1933, as amended, or any state securities laws,
may not be offered or sold in the United States absent
registration or an applicable exemption from registration
requirements, and will therefore be subject to substantial
restrictions on transfer.

The exchange offer and consent solicitation are only being made,
and copies of the exchange offer documents will only be made
available to, holders of old notes who have certified to
Loehmann's in an eligibility letter as to certain matters,
including their status as "qualified institutional buyers," as
that term is defined under the Securities Act, "qualified
purchasers," as that term is defined under the Investment Company
Act of 1940 and "disqualified Non-U.S. Holders," as that term is
defined in the eligibility letter.  Copies of the eligibility
letter are available to qualified holders through the information
agent, Global Bondholder Services Corporation, Attn:  Corporate
Actions, at 65 Broadway, Suite 404, New York, New York 10006,
telephone number: 212-430-3774.  A confidential offering
memorandum, dated today, will be distributed to qualified holders.

As reported by the Troubled Company Reporter on June 18, 2010,
Bill Rochelle at Bloomberg News said Loehmann's Inc. hired three
financial advisory firms with experience in turnarounds and
bankruptcy reorganizations.  The firms are AlixPartners LLP,
Perella Weinberg Partners and Clear Thinking Group LLC, according
to people with knowledge of the situation.

Reuters on April 6 reported that Loehmann's said it was fulfilling
its financial obligations in response to new questions about its
ability to keep its operations afloat.  According to Reuters,
Loehmann's denied a report in The New York Post that it missed a
$6 million interest payment on its debt the previous week.  But a
source briefed on the situation said the store chain had delayed
payments to CIT Group Inc. in order to make the interest payment.
Reuters also reported that the NY Post, citing sources close to
the situation, also said suppliers to the company were holding
back shipments due to its deteriorating financial situation.

A source told Reuters that CIT had suspended its factoring
approvals for Loehmann's because the company had slowed payments
to vendors and to CIT due to the interest payment.  It was not
immediately clear if CIT had reinstated its factoring approval,
Reuters said.

Loehmann's received a speculative-grade "CC" corporate credit
rating from Standard & Poor's.  The ratings agency said in March
2010, "we believe that current cash on hand and availability under
the company's revolver may not be sufficient to cover operating
needs over the near term."

Loehmann's is a discount retailer with more than 60 stores.  The
Bronx, New York-based company is owned indirectly by Istithmar
PJSC, an investment firm owned by the government of Dubai.

Loehmann's emerged from a 14-month Chapter 11 reorganization with
a confirmed plan in September 2000. At the time, it operated 44
stores in 17 states.


LUCKY CHASE: Court Approves FDIC-Led Auction on November 2
----------------------------------------------------------
The Hon. Robert A. Mark of the U.S. Bankruptcy Court for the
Southern District of Florida authorized Kenneth A. Welt, Chapter
11 trustee in the Chapter 11 case of Lucky Chase II, LLC, to sell
the Debtor's assets in an auction led by Federal Deposit Insurance
Corporation, as receiver for AmTrust Bank.

FDIC agreed to purchase the Debtor's assets for $8,762,867,
subject to the lien of the Miami-Dade County Tax Collector.  The
FDIC will advance up to $68,000 in marketing and advertising costs
to the trustee's auctioneer, with all advances being added to the
FDIC's allowed secured claim.  In the event that a bidder other
than the FDIC is the successful bidder, the marketing advance will
be repaid from the sale proceeds.

The property will be sold in its "as is", "where is" condition and
with all faults, with no guarantees or warranties express or
implied.

The trustee scheduled an auction November 2, 2010 at 13841 S.W.
90th Avenue, Miami, Florida.  Qualified bids are due October 29 at
5:00 p.m. EDT.

The Court will consider the sale of the assets to FDIC or the
winning bidder at a hearing on November 3, 2010 at 10:00 a.m.
Objections, if any are due 5:00 p.m., two business days prior to
the sale hearing.

If the FDIC is the successful bidder, the auctioneer will receive
a fee of 4% of the ultimate sale price, to be paid by the FDIC
within 4 business days following the sale hearing, with 1% of the
ultimate sale price to be allocated for the benefit of the
Debtor's general unsecured creditors.

If a bidder other than the FDIC is the successful bidder, the
auctioneer will receive a fee of 5% of the ultimate sale price, to
be paid out of the sales proceeds, with 1% of the ultimate sale
price to be allocated for the benefit of the Debtor's general
unsecured creditors.

                    About Lucky Chase II, LLC

Headquartered in Pittsburgh, Pennsylvania, Lucky Chase II, LLC,
operates a single-asset, real estate company.  The Company filed
for Chapter 11 protection on April 29, 2009 (Bankr. S.D. Fla. Case
No. 09-18087).  Arthur J. Spector, Esq., represents the Debtor in
its restructuring effort.  The Debtor estimated assets and debts
between $10 million and $50 million each.


LUCKY CHASE: Trustee May Use Cash to Repair or Modify Property
--------------------------------------------------------------
The Hon. Robert A. Mark of the U.S. Bankruptcy Court for the
Southern District of Florida, in a tenth interim order, authorized
Kenneth A. Welt, Chapter 11 trustee in the Chapter 11 case of
Lucky Chase II, LLC, until November 4, 2010, unless superseded by
a final order, or extended by further order of this Court.

A further hearing on the Trustee's continued use of cash
collateral will be convened on November 3 at 10:00 a.m.

Federal Deposit Insurance Corporation, as receiver for AmTrust
Bank, consents to the trustee's use of cash collateral to pay the
ordinary and necessary business expenses of the Debtor, without
exceeding 10% of the line item amounts in the budget.  To ensure
the safety of the conditions on the Debtor's real property, the
Trustee may use the cash collateral to pay for the repair,
replacement and modification of the Debtor's real property other
than in the ordinary course of business.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtors will grant AmTrust replacement liens upon
all postpetition assets of the Debtor.

The Trustee will also maintain all necessary insurance, and obtain
additional insurance in an amount as is appropriate for the
business in which the Debtor is engaged, naming AmTrust as an
additional insured and loss payee with respect thereto.

                    About Lucky Chase II, LLC

Headquartered in Pittsburgh, Pennsylvania, Lucky Chase II, LLC,
operates a single-asset, real estate company.  The Company filed
for Chapter 11 protection on April 29, 2009 (Bankr. S.D. Fla. Case
No. 09-18087).  Arthur J. Spector, Esq., represents the Debtor in
its restructuring effort.  The Debtor estimated assets and debts
between $10 million and $50 million each.


LUDO MENSCH: Case Summary & 16 Largest Unsecured Creditors
----------------------------------------------------------
Joint Debtors: Ludo Gust Mensch
               Lorraine Patricia Mensch
               31227 Lobo Canyon Road
               Agoura Hills, CA 91301

Bankruptcy Case No.: 10-22102

Chapter 11 Petition Date: September 24, 2010

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

Judge: Maureen Tighe

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

Scheduled Assets: $2,115,688

Scheduled Debts: $2,510,488

A list of the Joint Debtors' 16 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-22102.pdf


LYDIAN PRIVATE: Weiss Gives Fla. Bank Very Weak E Rating
--------------------------------------------------------
Weiss Ratings has assigned its "very weak" E rating to Lydian
Private Bank based in Palm Beach, Fla.  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
June 30, 2010, the institution's balance sheet showed $1.9 billion
in assets.


MAJESTIC STAR: Hearing on End of Plan Exclusivity on Sept. 28
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will
convene a hearing on September 28, 2010, at 10:00 a.m. (Eastern
Standard Time), to consider the termination of The Majestic Star
Casino, LLC, et al.'s exclusive rights to file and solicit
acceptances for the proposed Chapter 11 Plan.

The Official Committee of Unsecured Creditors in the Debtors'
cases sought for the termination the Debtors' exclusive periods
the Debtors decided to propose a plan of reorganization in bad
faith, which purportedly settles core restructuring controversies
with the Senior Secured Noteholders over the objection of the
Committee. The Debtors' Plan encompasses three settlements: the
Gaming License Settlement, the Cash Collateral Settlement and the
Standing Motion Settlement.  The Plan Settlements also purport to
resolve critical valuation issues relating to the value of the
Debtors' Gaming Licenses and the enterprise value of the
Reorganized Debtors.

The Committee intends to file under seal the Committee Plan, which
will be premised upon the prosecution of the claims and defenses
inappropriately compromised in the Plan Settlements.

                       About Majestic Star

The Majestic Star Casino, LLC -- aka Majestic Star Casino, aka
Majestic Star -- is based in Las Vegas, Nevada.  It is a wholly
owned subsidiary of Majestic Holdco, LLC, which is a wholly owned
subsidiary of Barden Development, Inc.  The Company was formed on
December 8, 1993, as an Indiana limited liability company to
provide gaming and related entertainment to the public.  The
Company commenced gaming operations in the City of Gary at
Buffington Harbor, located in Lake County, Indiana on June 7,
1996.  The Company is a multi-jurisdictional gaming company with
operations in three states -- Indiana, Mississippi and Colorado.

The Company filed for Chapter 11 bankruptcy protection (Bankr. D.
Del. Case No. 09-14136) on November 23, 2009.

The Company's affiliates -- The Majestic Star Casino II, Inc., The
Majestic Star Casino Capital Corp., Majestic Star Casino Capital
Corp. II, Barden Mississippi Gaming, LLC, Barden Colorado Gaming,
LLC, Majestic Holdco, LLC, and Majestic Star Holdco, Inc. -- also
filed separate Chapter 11 petitions.

Kirkland & Ellis LLP is the Debtors' bankruptcy counsel.  James E.
O'Neill, Esq., Laura Davis Jones, Esq., and Timothy P. Cairns,
Esq., at Pachulski Stang Ziehl & Jones LLP are the Debtors'
Delaware counsel.  Xroads Solutions Group, LLC, is the Debtors'
financial advisor, while EPIQ Bankruptcy Solutions LLC are the
Debtors' claims and notice agent.

The Majestic Star Casino's balance sheet at June 30, 2009, showed
total assets of $406.42 million and total liabilities of
$749.55 million.  When it filed for bankruptcy, the Company
estimated up to $500 million in assets and up to $1 billion in
debts.


MCHENRY SAVINGS: Weiss Gives Ill. Bank Very Weak E Rating
---------------------------------------------------------
Weiss Ratings has assigned its "very weak" E rating to McHenry
Savings Bank based in McHenry, Ill.  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
June 30, 2010, the institution's balance sheet showed
$270.7 million in assets.


MCP ONTARIO: Case Summary & 8 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: MCP Ontario Festival LLC
        4100 Newport Place Suite 770
        Newport Beach, CA 92660

Bankruptcy Case No.: 10-23351

Chapter 11 Petition Date: September 22, 2010

Court: United States Bankruptcy Court
       Central District Of California (Santa Ana)

Judge: Theodor Albert

Debtor's Counsel: Cory J. Briggs, Esq.
                  BRIGGS LAW CORPORATION
                  99 E. "C" St Ste 111
                  Upland, CA 91786
                  Tel: (909) 949-7115

Scheduled Assets: $8,126,400

Scheduled Debts: $31,060,521

A list of the Company's eight largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-23351.pdf

The petition was signed by Ronald L. Meer, manager of Meer MCP
Ontario Festival LLC, sole member of Debtor.


MEMBERS UNITED: Undercapitalized; Placed in Conservatorship
-----------------------------------------------------------
The National Credit Union Administration on Friday assumed control
of three undercapitalized corporate credit unions, announced a
plan to isolate the impaired assets in the corporate credit union
system, and finalized a set of stronger regulations -- key
elements in its efforts to resolve the financial challenges facing
corporate credit unions without disrupting consumer service.

"The steps NCUA has taken [Fri]day represent a comprehensive
solution to the problems afflicting the corporate credit union
system," said NCUA Chairman Debbie Matz. "Just as important, this
plan puts consumers first and ensures that there will be no loss
to taxpayers. This plan also provides an orderly transition to a
new regulatory regime for corporates. In addition, we are
affording local credit unions greater choice in selection of their
liquidity and back office provider."

The Temporary Corporate Credit Union Share Guarantee Program
remains fully in effect for the entire corporate system through
December 31, 2012.

In addition, NCUA continues to insure credit union and consumer
deposits up to $250,000 per account. Setting the plan into motion
required conservatorship of three additional corporate credit
unions that are not viable:

     -- Members United Corporate Federal Credit Union of
        Warrenville, Illinois;

     -- Southwest Corporate Federal Credit Union of Plano, Texas;
        and

     -- Constitution Corporate Federal Credit Union of
        Wallingford, Connecticut.

In March 2009, U.S. Central Corporate Federal Credit Union of
Lenexa, Kansas, and Western Corporate Federal Credit Union of San
Dimas, California, were also placed into conservatorship.

In a conservatorship, NCUA replaces an institution's management
and board, operating it in a way that protects taxpayers' and
members' interests during its orderly transition and resolution.
The plan to address the impaired assets and resolve these troubled
institutions involves several interrelated steps:

     -- Isolating the impaired securities (legacy assets) held by
        these five corporate credit unions;

     -- Repackaging the legacy assets into new securities with an
        NCUA guarantee backed by the unconditional full faith and
        credit of the United States government;

     -- Issuing the new securities to investors on the open
        market;

     -- Transferring the corporates' still-valuable assets to
        newly created "bridge banks" that will allow for
        continued operations; and

     -- Transitioning operations now under NCUA conservatorship
        over a target of 24 months to other service providers.

NCUA has consulted with the Treasury, Federal Reserve and other
federal financial regulators in developing these plans, and will
continue to work closely with these agencies to ensure the orderly
resolution of conserved corporates, the effective implementation
of the steps outlined, and the continued smooth operation of the
credit union system.

In particular, the life of the Temporary Corporate Credit Union
Stabilization Fund has been extended to June 30, 2021, with the
concurrence of Treasury Secretary Timothy F. Geithner.  This will
provide the NCUA Board with important flexibility in mitigating
the impact of the annual assessments to credit unions for the
costs over this period.  It should be noted that the costs will be
borne exclusively by the credit union industry, and will not
result in any loss to taxpayers.

NCUA adopted a new set of regulatory reforms aimed at
strengthening the corporate credit union system. The new corporate
regulation (NCUA Rules and Regulations, Part 704):

     -- Implements stronger capital requirements and establishes
        prompt corrective action measures for corporate credit
        unions;

     -- Establishes clear concentration limits on investments that
        will require corporate credit unions to better diversify
        their portfolios;

     -- Improves asset-liability management requirements to avoid
        liquidity and interest rate risks; and

     -- Raises governance standards to improve levels of
        experience and expertise on corporate boards.

"NCUA's action to deal with the troubled institutions and the
impaired securities on the corporates' books -- together with
reforms to the NCUA regulation that governs the corporate system
-- will create stronger safeguards for the nation's entire credit
union system," said Chairman Matz. "The credit union community has
long hoped to see a coordinated, market-based, least-cost solution
to the corporate crisis, and we have delivered that [Fri]day."

NCUA Board Member Gigi Hyland noted, "The regulatory reforms and
plan to resolve the troubled institutions and their impaired
assets are key steps to allow the credit union system to move
forward. The corporate rule is stronger thanks to the 815
commenters who provided NCUA feedback.  And, these actions reflect
the key principle that has guided NCUA's efforts -- finding a
solution that minimizes, as much as possible, the cost to the
credit union system while spreading that cost out over time."

NCUA Board Member Michael Fryzel commented that "NCUA, along with
the entire credit union industry, has struggled with the corporate
problem for over two years.  [Fri]day's Board actions culminate
months of analysis, review and planning and establish a regulatory
framework and viable options that will prevent a reoccurrence of
this crisis and give credit unions a choice for the future."

Chairman Matz also emphasized that the future of the remainder of
the corporate credit union system will be determined by the
private sector's judgment, not by any government dictate.

"The leaders of the nation's consumer credit unions must make the
strategic business decisions about whether to recapitalize some of
the remaining, viable corporates, switch to a different corporate,
or seek services at some other type of institution," said Chairman
Matz.  "NCUA is confident that the new framework will enable the
choices ahead to be made in the context of strong and safe credit
union operations. The credit union industry, and the 90 million
consumers it serves, deserve nothing less."

                           *     *     *

The Wall Street Journal's Mark Maremont and Victoria McGrane
report that the three credit unions seized last week had a total
of $19.67 billion in assets as of July 2010:

                                                  Assets
                                                  ------
     Members United Corporate Federal
     Credit Union                              $8.93 billion

     Southwest Corporate Federal
     Credit Union                              $9.52 billion

     Constitution Corporate Federal            $1.22 billion
     Credit Union

The two credit unions seized in March 2009 had these assets:

                                                  Assets
                                                  ------
     U.S. Central Corporate Federal
     Credit Union                               $34 billion

     Western Corporate Federal
     Credit Union                               $23 billion

NCUA is the independent federal agency that regulates, charters
and supervises federal credit unions.  With the backing of the
full faith and credit of the U.S. government, NCUA operates and
manages the National Credit Union Share Insurance Fund, insuring
the deposits of over 90 million account holders in all federal
credit unions and the overwhelming majority of state-chartered
credit unions.


MERIDIAN PARTNERSHIP: Trustee Can Employ Brokers to Sell Assets
---------------------------------------------------------------
Wallace Manfrin at Personal Finance Bulletin reports that a
federal bankruptcy judge authorized bankruptcy trustee Mark
Calvert to employ brokers to dispose of the assets of Meridian
Partnership Management Inc. current under investigation for
operating an illegal Ponzi scheme.

As part of the order the bankruptcy trustee is seeking to
liquidate a 5,400 square-foot home as well as a yacht, which
belonged to the owner of the investment firm, Frederick Darren
Berg, according the Bulletin.

The bankruptcy trustee was appointed to track down and return
nearly $211 million in investor funds that are at the center of
the investigation.  The Company is believed to have attracted
approximately 700 investors.  "Much of the money was appropriated
by Mr. Berg for his personal use including the operation of a
luxury bus company," say Mr. Manfrin quotes the bankruptcy trustee
as stating.

Creditors submitted involuntary Chapter 11 petitions for Meridian
Mortgage Investors Fund V, LLC (Bankr W.D. Wash. Case No. 10-
17952), Meridian Mortgage Investors Fund VII, LLC (Bankr W.D.
Wash. Case No. 10-17953), Meridian Mortgage Investors Fund VIII,
LLC (Bankr W.D. Wash. Case No. 10-17958), and Meridian Mortgage
Investors Fund II (Bankr W.D. Wash. Case No. 10-17976).  Meridian
Partnership Management Inc. and MPM Investor Services, Inc., were
also sent by creditors to Chapter 11.

Attorneys at Foster Petter PLLC serve as counsel to the Meridian
entities.


METRO-GOLDWYN-MAYER: Bank Debt Trades at 54% Off
------------------------------------------------
Participations in a syndicated loan under which Metro-Goldwyn-
Mayer, Inc., is a borrower traded in the secondary market at 45.61
cents-on-the-dollar during the week ended Friday, September 24,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents an increase
of 2.54 percentage points from the previous week, The Journal
relates.  The Company pays 275 basis points above LIBOR to borrow
under the facility, which matures on April 8, 2012.  The debt is
not rated by Moody's and Standard & Poor's.  The loan is one of
the biggest gainers and losers among 215 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.
r.

                    About Metro-Goldwyn-Mayer

Metro-Goldwyn-Mayer, Inc., is an independent, privately held
motion picture, television, home video, and theatrical production
and Distribution Company.  The Company owns the world's largest
library of modern films, comprising approximately 4,000 titles,
and over 10,400 episodes of television programming.  An investor
consortium, comprised of Providence Equity Partners, TPG Capital,
Sony Corporation of America, Comcast Corporation, DLJ Merchant
Banking Partners and Quadrangle Group, owns MGM.

MGM is grappling with $3.7 billion in debt.  MGM has received a
series of forbearance agreements from its bondholders and lenders,
wherein the lenders extended the period during which MGM won't
have to pay principal and interest on its bank debt, including a
revolving credit facility.  The latest forbearance agreement
expires October 29.

As reported by the Troubled Company Reporter on August 12, 2010,
sources told The Wall Street Journal that MGM hopes to file a
"prepackaged" bankruptcy sometime in mid-September, when the
latest waiver on debt payments expires.  J.P. Morgan Chase & Co.,
a major MGM creditor, is working on providing between $150 million
and $200 million in debtor-in-possession financing to steer the
studio through bankruptcy, one of the sources told the Journal.

MGM tried to sell itself in March 2010 but received low bids.  MGM
has hired investment bank Moelis & Company and the law firm
Skadden, Arps, Slate, Meagher & Flom.  In August 2009, it hired
the restructuring expert Stephen F. Cooper to help lead the
company.


MEXICANA AIRLINES: Conciliator, Administrator Appointed
-------------------------------------------------------
Mexico's Federal Institute of Business Reorganization Specialists
appointed Jose Gerardo Badin Cherit as conciliator in the
insolvency proceeding of Compania Mexicana de Aviacion, S.A. de
C.V.

FIBRS, a branch of the Mexican federal judiciary, appointed Mr.
Badin Cherit following an order from the Mexican Court, which
approved the airline's petition and moving its case into the
"conciliation" or reorganization phase.

Mr. Badin Cherit has already accepted his appointment as
conciliator, according to court papers filed by Francisco Javier
Christlieb Morales, who was recently appointed as the airline's
administrator by the Mexican Ministry of Transport and
Communications.

As administrator, Mr. Morales is tasked to work with the
conciliator to effect the restructuring of Mexicana Airlines as
the company operates under a "concession title" from the
transportation ministry.

Both the administrator and the conciliator have affirmed the
appointment of Maru Johansen as Mexicana Airlines' foreign
representative in the Chapter 15 case the airline filed before
the U.S. Bankruptcy Court for the Southern District of New York.
They have also agreed that Ms. Johansen will continue serving as
the airline's foreign representative.

According to Mexicana Airlines, the objective of the Concurso
Mercantil -- as insolvency proceedings are referred to in Mexican
law -- is to restructure costs and secure financial viability.
The decision marked the beginning of the conciliation phase and,
pursuant to the procedures stipulated by law and at the proposal
of the Department of Communications and Transportation, the judge
approved the appointment of Mr. Javier Christlieb Morales as
administrator of Mexicana Airlines.  Mr. Christlieb Morales
assumed his duties on September 8.

Mexicana also said that at the behest of the Department of
Communications and Transportation, in its capacity as the granting
authority, Mr. Gerardo Badin Cherit's appointment as arbitrator
was approved by the judge.  Mr. Badin Cherit will be responsible
for facilitating restructuring agreements between the company and
its creditors.

                      About Mexicana Airlines

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

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

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

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

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

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


MEXICANA AIRLINES: Misses Sept. 15 Payments to Airports
-------------------------------------------------------
Mexicana Airlines drew criticism anew from a consortium of
airports and airport authorities after it allegedly failed to pay
its debt due September 15, 2010, as agreed at the status
conference held early this month.

The airport group's attorney, Selinda Melnik, Esq., at Edwards
Angell Palmer & Dodge LLP, in New York, says Mexicana Airlines
has failed to provide any of the protections required other than
payment of passenger facility charges and the initial funding of
the PFC reserve account which the airline failed to replenish in
violation of Federal law.

Mexicana Airlines reportedly does not have available funds to pay
its debt.  Its attorneys have already informed the group that the
airline would coordinate with the airport authorities for the
turnover of space it uses at the airports next month if it failed
to pay its debt by September 30, 2010.

The objection drew support from The Greater Orlando Aviation
Authority and The Port Authority of New York and New Jersey.

                      About Mexicana Airlines

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

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

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

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

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

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


MEXICANA AIRLINES: Sept. 29 U.S. Court Hearing on Recognition Plea
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
will hold a hearing on September 29, 2010, to consider the motion
for recognition of Mexicana Airlines' insolvency case as a foreign
main proceeding.

The Bankruptcy Court will also hold a telephone status and
scheduling conference on September 27, 2010, to discuss matters
to be addressed at the hearing.  Anyone who wants to participate
in the conference may contact the Bankruptcy Court to make
arrangements.

The hearing was supposed to take place September 8, 2010, but
Mexicana Airlines asked for an adjournment in light of the
appointment of the conciliator and administrator in its
insolvency case in Mexico.

     Mexicana Wants Banco Mercantile Objection Overruled

Mexicana Airlines asked the U.S. Bankruptcy Court to overrule the
objection of Banco Mercantil del Norte S.A., saying the
conditions which the bank asked the Bankruptcy Court to impose
before granting recognition is "outrageous" and "unsupportable."

Banco Mercantil, a secured lender of Mexicana Airlines, earlier
complained of a ruling handed down by the Mexican court enjoining
the bank from taking any action involving the funds held as
collateral in two deposit accounts.  It argued that the ruling
contradicts the August 18 order issued by the Bankruptcy Court,
which excluded the bank from the scope of injunctive protections
granted to Mexicana Airlines.

The funds serve as collateral for the US$123.6 million that
Mexicana Airlines owes to Banco Mercantil under a 2008 credit
agreement.

Although Banco Mercantile did not question the basis for granting
recognition, one of the bank's conditions would require the
Bankruptcy Court to sit in judgment of the Mexico Court and of
the procedures permitted under the Concurso law, according to
William Heuer, Esq., at Duane Morris LLP, in New York.

"In sum and substance, [Banco Mercantile] has asked this
Bankruptcy Court to partially overrule or render moot an order
entered by the Mexico Court providing Mexicana injunctive
relief," Mr. Heuer says.  He points out that the bank made the
request despite the fact that the airline is not asking the
Bankruptcy Court to enforce an order of the Mexico Court.

"[Banco Mercantile's request has no basis in public policy and
is, in and of itself, contrary to any meaningful concept of
public policy," Mr. Heuer explains.

Mr. Heuer says Banco Mercantile also wants the Bankruptcy Court
to grant it "adequate protection" but the bank failed to address
basic principles of bankruptcy law concerning claims of and
protections provided to secured creditors.

According to Mr. Heuer, the stay that was imposed on Banco
Mercantile by the Mexico Court in the insolvency proceeding
stemmed from a number of actions taken by the bank against the
airline and its assets, many of which relate to funds that were
on deposit in trust accounts in Mexico.  He points out that those
assets are beyond the jurisdiction of the Bankruptcy Court and
that asking the Bankruptcy Court to compel the airline to provide
adequate protection to the bank will undermine the jurisdiction
and authority of the Mexico Court.

According to Mr. Heuer, Banco Mercantile is also not entitled to
adequate protection this early because U.S. judicial power does
not prevent the bank from seizing its collateral.  He also
criticized the bank's assertion that the Mexican law and the
procedure employed by the Mexican court are so repugnant as to
violate public policy in the U.S.

                   Banco Mercantile Responds

Banco Mercantile's lawyer, Paul Hessler, Esq., at Linklaters LLP,
in New York, clarifies that the bank is not seeking "true
injunctions" against Mexicana Airlines or any action against the
Mexican Court.

"[Banco Mercantile] simply asks that the Court condition any
relief it may grant on [Mexicana Airlines] respecting certain
fundamental public policies of the United States," Mr. Hessler
says in court papers.

Mr. Hessler says the Bankruptcy Court has the "inherent power" to
condition the granting of Chapter 15 relief on the airline's
agreement not to pursue inconsistent rulings in its insolvency
case in light of the public policy requiring the protection of
secured creditors and the airline's decision to seek assistance
from the Bankruptcy Court.

"The Court has the power to deny recognition to [Mexicana
Airlines] and necessarily has the ability to take the lesser step
of conditioning the granting of such relief on [Mexicana
Airlines] taking or refraining from taking certain actions," Mr.
Hessler says.

According to Mr. Hessler, if the Bankruptcy Court granted the
bank's request, Mexicana Airlines would simply be unable to seek
the protections of Chapter 15 recognition in the U.S. while
simultaneously depriving the bank of its rights on the U.S.
properties as a secured creditor.  He points out that the
airline, however, would remain free to seek whatever relief it
chooses with respect to its property and insolvency case in
Mexico.

Federico Santos Cernuda, a legal director of Banco Mercantil, and
Jorge Sepulveda, Esq., a partner at Mexico-based Bufete Garcia
Jimeno S.C., filed statements with the Bankruptcy Court in
support of the bank's objection.

Mr. Cernuda says Banco Mercantil relies on the cash held in the
bank accounts to offset or mitigate any potential damages to the
bank and that it is not willing to risk its collateral without
some form of protection for that collateral.

For his part, Mr. Sepulveda says that even if Banco Mercantil
were entitled to be treated as a "creditor with collateral," the
superior priority of statutorily required labor credits would
likely materially reduce the bank's recovery on its collateral in
the insolvency case if it prohibited use of those funds.  He
points out that those labor credits are decided by special
administrative courts and not bound by the insolvency case.

                      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).


MICHAEL IRVING: Case Summary & 7 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Michael B. Irving
        1325 S. Butler Avenue
        Compton, CA 90221-5204
        Tel: (213) 223-2085

Bankruptcy Case No.: 10-50827

Chapter 11 Petition Date: September 24, 2010

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

Judge: Vincent P. Zurzolo

Debtor's Counsel: Aurora Talavera, Esq.
                  THE AURORA LAW GROUP
                  633 W 5th St 26th Floor, Suite 26072
                  Los Angeles, CA 90071
                  Tel: (213) 223-2085
                  Fax: (213) 596-3737
                  E-mail: aurora@theauroralawgroup.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 seven largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-50827.pdf


MICHAELS STORES: Bank Debt Trades at 4% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Michaels Stores,
Inc., is a borrower traded in the secondary market at 95.97 cents-
on-the-dollar during the week ended Friday, September 24, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.71
percentage points from the previous week, The Journal relates.
The Company pays 225 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Oct. 31, 2013, and carries
Moody's B2 rating and Standard & Poor's B rating.  The loan is one
of the biggest gainers and losers among 215 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Michaels Stores Inc. filed its quarterly report on Form 10-Q,
reporting a net loss of $1 million for the quarter ended July 31,
2010, compared to net income of $2 million for the quarter ended
August 1, 2009.  The Company had net sales of $831 million for the
quarter ended July 31, 2010 compared with $807 million during the
comparable period in 2009.

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

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


MILACRON INC: Judge Aug Requires Rule 2019 Disclosure
-----------------------------------------------------
WestLaw reports that an entity which, through its submissions in a
Chapter 11 case, indicated that "[i]t d[id] not represent any
creditors other than its members" qualified as an "entity or
committee representing more than one creditor," that could be
required, pursuant to the plain terms of Bankruptcy Rule 2019, to
file a verified statement disclosing, among other things, the
names and addresses of creditors that it represented in filing a
Gibson motion with the court for leave to commence a cause of
action against the debtor's officers and directors.  Full
disclosure was necessary to permit court to determine whether the
entity had a colorable claim that the debtor had unjustifiably
refused to bring, as required for it to prevail on its Gibson
motion.  In re Milacron, Inc., --- B.R. ----, 2010 WL 3604188
(Bankr. S.D. Ohio) (Aug, J.).

This dispute arises in the context of a July 16, 2010, motion
authorizing certain noteholders to commence and prosecute various
causes of action valued at $50 million against certain directors
and officers of the Debtor, also known as a "Gibson" motion.  In
that motion, the movants identified themselves as "Certain Holders
of Milacron 11-1/2% Senior Secured Notes issued by MI 2009 Inc.
(f/k/a Milacron, Inc.) managed by Avenue Capital Group and DDJ
Capital Management LLC."  One of the directors and officers,
Ronald Brown, filed the motion, requesting that the "nameless
movants" comply with Rule 2019.  The nameless movants responded
with an amended Gibson motion wherein they further identify
themselves as being Avenue Special Situations Fund IV, L.P.,
Avenue Investments, L.P., Avenue CDP Global Opportunites Fund,
L.P., Avenue International Master, L.P. and Avenue Special
Situations Fund V, L.P.  It appears to the Honorable J. Vincent
Aug, Jr., that the Avenue Movants are two Delaware foreign limited
partnerships, a Delaware limited partnership, a Cayman Islands
foreign limited partnership, and a Cayman Islands exempted limited
partnership.  Judge Aug directs the Avenue Movants to file a
verified statement setting forth the data required by Rule 2019(a)
by Sept. 29, 2010, and says that, pursuant to Rule 2019(b), the
Avenue Movants are prohibited from being heard on any matter in
this case until they have complied with this disclosure
requirement.

                     About Milacron Inc.

Headquartered in Batavia, Ohio, Milacron Inc. (Pink Sheets: MZIAQ)
supplies plastics-processing technologies and industrial fluids,
with major manufacturing facilities in North America, Europe and
Asia.  First incorporated in 1884, Milacron also manufactures
synthetic water-based industrial fluids used in metalworking
applications.

The Company and six of its affiliates filed for chapter 11
protection (Bankr. S.D. Ohio Case No. 09-11235) on March 10, 2009.
On the same day, the Company filed an ancillary proceeding for
reorganization of its Canadian subsidiary under the Companies'
Creditors Arrangement Act in the Ontario Superior Court of Justice
in Canada.  The petitions include the Company and its U.S. and
Canadian subsidiaries and its non-operating Dutch holding company
subsidiary only, and do not include any of the Company's operating
subsidiaries outside the U.S. and Canada.

Kim Martin Lewis, Esq., Tim J. Robinson, Esq., and Patrick D.
Burns, Esq., at Dinsmore & Shohl LLP, represent the Debtors in
their restructuring efforts.  Conway, Del Genio, Gries Co., LLC,
is the Debtors' financial advisor.  Rothschild Inc. is the
Debtors' investment banker and financial advisor.  Kurtzman Carson
Consultants LLC is the noticing, balloting and disbursing agent
for the Debtors.  Paul, Hastings, Janofsky & Walker LLP,
represents DIP Lender General Electric Capital Corp.  Timothy J.
Hurley, Esq., and W. Timothy Miller, Esq., at Taft Stettinius &
Hollister LLP serve as counsel for the Official Committee of
Unsecured Creditors.

At September 30, 2008, the Company's balance sheet showed
$586.1 million in assets and $648.5 million in debts.

On August 21, 2009, the Company completed a sale of substantially
all of its assets to Milacron LLC, a company formed by affiliates
of Avenue Capital Group, certain funds and accounts managed by DDJ
Capital Management LLC and certain other entities that held
roughly 93% of the Company's 11.5% Senior Secured Notes.  Milacron
Inc. asked the Bankruptcy Court to change its name to MI 2009 Inc.
following the asset sale.


MISSION OAKS: Weiss Gives Calif. Bank Very Weak E- Rating
---------------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to Mission
Oaks National Bank based in Temecula, Calif.  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
June 30, 2010, the institution's balance sheet showed
$187.1 million in assets.


MONARCH COMMUNITY: Weiss Gives Mich. Bank Very Weak E- Rating
-------------------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to Monarch
Community Bank based in Coldwater, Mich.  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
June 30, 2010, the institution's balance sheet showed
$262.8 million in assets.


MOREBANK: Weiss Gives Pa. Bank Very Weak E+ Rating
--------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Morebank
based in Philadelphia, Pa.  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
June 30, 2010, the institution's balance sheet showed
$72.3 million in assets.


NORTEL NETWORKS: Ericsson Enters Pact to Acquire Switch Business
----------------------------------------------------------------
Ericsson has entered into an asset purchase agreement to acquire
Nortel's Multi-Service Switch business.  This acquisition gives
Ericsson access to a strong product portfolio and installed base
in the data segment while ensuring the supply of the MSS platform
for the recently acquired CDMA and GSM units.

An important part of the CDMA ecosystem, MSS offers the sale and
support of data networks and switching platforms for core networks
within the recently acquired wireless and carrier voice divisions.
MSS serves a valuable need for a multiplicity of services that the
backbone network provides today for our customers.

The purchase is structured as an asset purchase at a cash purchase
price of US$65 million on a cash and debt free basis, subject to
adjustments.  This announcement follows the completion of the
auction process initiated by Nortel, and the transaction is
subject to court approval and customary regulatory approvals.

"Today's announcement is further evidence of our commitment to our
CDMA portfolio as we continue to strengthen our in-house R&D and
services muscle to deliver on the innovation, collaboration and
support that our customers have come to expect from us."  said
Rima Qureshi, senior vice president and head of business unit CDMA
Mobile Systems.

Consummation of the transaction is subject to approval by the
relevant Bankruptcy Courts and the satisfaction of regulatory and
other conditions.

SEB Enskilda is acting as Ericsson's sole financial advisor in the
transaction.

Ericsson is the world's leading provider of technology and
services to telecom operators.  Ericsson is the leader in 2G, 3G
and 4G mobile technologies, and provides support for networks with
over 2 billion subscribers and has the leading position in managed
services.  The company's portfolio comprises mobile and fixed
network infrastructure, telecom services, software, broadband and
multimedia solutions for operators, enterprises and the media
industry.  The Sony Ericsson and ST-Ericsson joint ventures
provide consumers with feature-rich personal mobile devices.

Ericsson is advancing its vision of being the "prime driver in an
all-communicating world" through innovation, technology, and
sustainable business solutions. Working in 175 countries, more
than 80,000 employees generated revenue of SEK 206.5 billion
(US$27.1 billion) in 2009.  Founded in 1876 with the headquarters
in Stockholm, Sweden, Ericsson is listed on NASDAQ OMX, Stockholm
and NASDAQ New York

                      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 COUNTY BANK: Closed; Whidbey Island Bank Assumes Deposits
---------------------------------------------------------------
North County Bank of Arlington, Wash., was closed on Friday,
September 24, 2010, by the Washington Department of Financial
Institutions, which appointed the Federal Deposit Insurance
Corporation as receiver.  To protect the depositors, the FDIC
entered into a purchase and assumption agreement with Whidbey
Island Bank of Coupeville, Wash., to assume all of the deposits of
North County Bank.

The four branches of North County Bank will reopen during normal
banking hours as branches of Whidbey Island Bank.  Depositors of
North County Bank will automatically become depositors of Whidbey
Island Bank.  Deposits will continue to be insured by the FDIC, so
there is no need for customers to change their banking
relationship in order to retain their deposit insurance coverage.
Customers of North County Bank should continue to use their
existing branch until they receive notice from Whidbey Island Bank
that it has completed systems changes to allow other Whidbey
Island Bank branches to process their accounts as well.

As of June 30, 2010, North County Bank had around $288.8 million
in total assets and $276.1 million in total deposits.  Whidbey
Island Bank will pay the FDIC a premium of 2.0 percent to assume
all of the deposits of North County Bank.  In addition to assuming
all of the deposits of the failed bank, Whidbey Island Bank agreed
to purchase essentially all of the assets.

The FDIC and Whidbey Island Bank entered into a loss-share
transaction on $221.9 million of North County Bank's assets.
Whidbey Island Bank will share in the losses on the asset pools
covered under the loss-share agreement.  The loss-share
transaction is projected to maximize returns on the assets covered
by keeping them in the private sector.  The transaction also is
expected to minimize disruptions for loan customers. For more
information on loss share, visit:

  http://www.fdic.gov/bank/individual/failed/lossshare/index.html

Customers who have questions about today's transaction can call
the FDIC toll-free at 1-800-508-8289.  Interested parties also can
visit the FDIC's Web site at:

  http://www.fdic.gov/bank/individual/failed/northcounty.html

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $72.8 million.  Compared to other alternatives, Whidbey
Island Bank's acquisition was the least costly resolution for the
FDIC's DIF.  North County Bank is the 127th FDIC-insured
institution to fail in the nation this year, and the ninth in
Washington.  The last FDIC-insured institution closed in the state
was The Cowlitz Bank, Longview, on July 30, 2010.


NUHI METAJ: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Joint Debtors: Nuhi Metaj
                 aka Eric Metaj
               Meria Metaj
                 fka Meria Stucke
               306 McCloud Drive
               Fort Lee, NJ 07024

Bankruptcy Case No.: 10-39286

Chapter 11 Petition Date: September 22, 2010

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

Judge: Donald H. Steckroth

Debtors' Counsel: Daniel J. Yablonsky, Esq.
                  YABLONSKY & ASSOCIATES, LLC
                  1430 Route 23 North
                  Wayne, NJ 07470
                  Tel: (973) 686-3800
                  Fax: (973) 686-3801
                  E-mail: ecfmail@yablaw.com

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

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

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/njb10-39286.pdf

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Seas Star Food USA, Inc.              10-47208            07/29/10


NXT ENERGY: Posts C$890,700 Net Loss in June 30 Quarter
-------------------------------------------------------
NXT Energy Solutions Inc. reported a net loss of C$890,673 on
C$444,958 of revenue for the three months ended June 30, 2010,
compared with net income of C$283,005 on C$2.6 million of revenue
for the same period of 2009.

The Company's balance sheet at June 30, 2010, showed C$3.8 million
in total assets, C$650,066 in total liabilities, and stockholders'
equity of C$3.1 million.

The Company says its ability to continue as a going concern will
ultimately be dependent upon its ability to sustain positive cash
flow from operations and obtain additional financing.  "There is
significant doubt about the appropriateness of the use of the
going concern assumption because the company has experienced
losses in 2008 through to the present, has experienced negative
cash flow from operations over these years and management believes
working capital as at June 30, 2010, of C$2.5 million is not
sufficient to support the company's operations for the next twelve
months without additional revenue or capital."

A full-text copy of the interim financial statements for the three
month period ended June 30, 2010, is available for free at:

                  http://researcharchives.com/t/s?6b91

A full-text copy of the interim Management's Discussion and
Analysis of the interim financial statements for the three month
period ended June 30, 2010, is available for free at:

                  http://researcharchives.com/t/s?6b92

                         About NXT Energy

Based in Calgary, Canada, NXT Energy Solutions Inc. (TSX: SFD; OTC
BB: NSFDF) -- http://www.nxtenergy.com/-- provides airborne
survey solutions that enable NXT's clients to focus their
exploration decisions concerning land commitments, data
acquisition expenditures or prospect prioritization onto the areas
with the greatest hydrocarbon potential.  Utilizing its
proprietary airborne Stress Field Detection ("SFD(R)") survey
system, NXT provides a unique survey method that is
environmentally noninvasive and unaffected by ground security
issues or difficult terrain.  Additionally, surveys can generally
be conducted year round and are effective both onshore and
offshore.


NXT NUTRITIONALS: Earns $2.3 Million in June 30 Quarter
-------------------------------------------------------
NXT Nutritionals Holdings, Inc. filed its quarterly report on Form
10-Q, reporting net income of $2.3 million on $49,057 of revenue
for the three months ended June 30, 2010, compared with a net loss
of $1.8 million on $247,891 of revenue for the same period last
year.

Other income (expenses) increased by approximately $4.1 million to
$2.9 million for the three months ended June 30, 2010, as compared
to $(1.2 million) during the corresponding three months ended
June 30, 2009.  Other income and expenses increased dramatically
as a result of the fair market accounting associated with embedded
derivatives in the 2010 secured convertible note offering.  The
change in fair value of $4.5 million was primarily attributable to
the significant decrease in the Company's per share value as
quoted on the Over-the Counter Bulletin Board.  The above fair
market value increase was offset by a $1.4 million increase in
interest expense during the three months ended June 30, 2010, as
compared to the comparable three months ended June 30, 2009.  This
is a result of a significant increase in convertible debt
outstanding.

The Company's balance sheet at June 30, 2010, showed $4.4 million
in total assets, $6.7 million in total liabilities, and a
stockholders' deficit of $2.3 million.

Berman & Company, P.A., in Boca Raton, Fla., expressed substantial
doubt about the Company's ability to continue as a going concern,
following its 2009 results.  The independent auditors noted that
the Company has a net loss of $24.0 million and net cash used in
operations of $2.1 million for 2009; and has a working capital
deficit of $1.5 million, and a stockholders' deficit of
$3.3 million at December 31, 2009.

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

                  http://researcharchives.com/t/s?6b90

                      About NXT Nutritionals

Holyoke, Mass.-based NXT Nutritionals Holdings, Inc. (OTC: NXTH) -
- http://www.nxtnutritionals.com/-- through its  wholly owned
subsidiary NXT Nutritionals, Inc., is engaged in developing and
marketing of a proprietary, patent-pending, all-natural sweetener
sold under the brand name SUSTA(TM) and other food and beverage
products.  SUSTA(TM) is being sold as a stand-alone product and it
is the common ingredient for all of the Company's products.


O L DEVELOPMENT: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: O L Development, LLC
        1300 Griffin Road
        Greenwood, AR 72936

Bankruptcy Case No.: 10-75022

Chapter 11 Petition Date: September 23, 2010

Court: U.S. Bankruptcy Court
       Western District of Arkansas (Fort Smith)

Debtor's Counsel: Derrick Mark Davidson, Esq.
                  DERRICK DAVIDSON, P.A.
                  3061 N. Market Avenue, Suite 8
                  Fayetteville, AR 72703
                  Tel: (479) 935-4100
                  Fax: (479) 856-6168
                  E-mail: derrick@davidsonbusinessattorney.com

Estimated Assets: $0 to $50,000

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

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

The petition was signed by Robert Griffin, manager.

Debtor-affiliates that filed separate Chapter 11 petitions:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Robert and Julia Griffin              10-73471            07/06/10
The Plantation, LLC                   10-74742            09/08/10
Oakview Homes, LLC                    10-74830            09/14/10
Iron Tree Homes, Inc.                 10-74832            09/14/10
Fairview Construction Co. LLC         10-74834            09/14/10
Corinthian Court, LLC                 10-74837            09/14/10
O L Frisco, LLC                       10-74838            09/14/10
Sabram Estates, LLC                   10-74847            09/15/10
Silver Leaf West, LLC                 10-74850            09/15/10
Silver Leaf East, LLC                 10-74860            09/15/10
Trinity Estates, LLC                  10-74858            09/15/10
J & R Development, LLC                10-74885            09/16/10


OLDE PRAIRIE: Plan Provides Sale of Properties to Pay Creditors
---------------------------------------------------------------
Olde Prairie Block Owner, LLC, submitted to the U.S. Bankruptcy
Court for the Northern District of Illinois a proposed Plan of
Reorganization and an explanatory Disclosure Statement.

The Debtor will begin soliciting votes on the Plan following
approval of the adequacy of the information in the Disclosure
Statement.

According to the Disclosure Statement, the Plan provides for
transfer by deed the entire Olde Prairie Property to CenterPoint
Properties Trust in a "dirt for debt" transaction and will credit
its value against the amount of the Allowed Class 3 Claim.

CenterPoint is the holder of a mortgage secured by the Olde
Prairie Property, the Lakeside Property, the Parking Lease, the
Olde Prairie Lease, the Lakeside Property Parking Lease, the Olde
Prairie Office Lease and the MPEA Condemnation Action, and any of
its successors and assigns.

The Plan also provides for the sale of the Lakeside Property and
the Parking Lease.

The Debtor expects to procure a commitment for a $4 million
debtor-in-possession loan for purposes of paying the
administrative expenses of the case, including any adequate
protection payments that might be ordered by the Bankruptcy Court.

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

The Debtor is represented by:

     John Ruskusky, Esq.
     George R. Mesires, Esq.
     Nile N. Park, Esq.
     UNGARETTI & HARRIS LLP
     3500 Three First National Plaza
     Chicago, IL 60602
     Tel: (312) 977-4400
     Fax: (312) 977-4405
     E-mail: grmesires@uhlaw.com
             npark@uhlaw.com

                About Olde Prairie Block Owner, LLC

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.


ONE GEORGE: Weiss Gives Ga. Bank Very Weak E- Rating
----------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to One George
Bank based in Atlanta, Ga.  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
June 30, 2010, the institution's balance sheet showed
$214.5 million in assets.


OPEN SOLUTIONS: Bank Debt Trades at 17% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Open Solutions,
Inc., is a borrower traded in the secondary market at 83.15 cents-
on-the-dollar during the week ended Friday, September 24, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents a drop of 1.05
percentage points from the previous week, The Journal relates.
The Company pays 212.50 basis points above LIBOR to borrow under
the facility.  The bank loan matures on January 18, 2014, and
carries Moody's B1 rating and Standard & Poor's BB- rating.  The
loan is one of the biggest gainers and losers among 215 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Headquartered in Glastonbury, Connecticut, Open Solutions, Inc.,
is a privately-held provider of core data processing and
information management software solutions for financial
institutions including community banks / thrifts and credit
unions.  In January 2007, the company was acquired by The Carlyle
Group and Providence Equity Partners in a leveraged transaction of
roughly $1.4 billion including the assumption of debt.  Revenues
for the last twelve month period ended September 2008 was
$438 million.


OSI RESTAURANT: Bank Debt Trades at 9% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which OSI Restaurant
Partners, Inc., is a borrower traded in the secondary market at
90.85 cents-on-the-dollar during the week ended Friday,
September 24, 2010, according to data compiled by Loan Pricing
Corp. and reported in The Wall Street Journal.  This represents an
increase of 1.60 percentage points from the previous week, The
Journal relates.  The Company pays 225 basis points above LIBOR to
borrow under the facility.  The bank loan matures on May 9, 2014,
and carries Moody's B3 rating and Standard & Poor's B+ rating.
The loan is one of the biggest gainers and losers among 215 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

OSI Restaurant Partners, Inc., is the #3 operator of casual-dining
spots (behind Darden Restaurants and Brinker International), with
more than 1,400 locations in the U.S. and 20 other countries.  Its
flagship Outback Steakhouse chain boasts more than 950 locations
that serve steak, chicken, and seafood in Australian-themed
surroundings.  OSI also operates the Carrabba's Italian Grill
chain, with about 240 locations.  Other concepts include Bonefish
Grill, Fleming's Prime Steakhouse, and Cheeseburger In Paradise.
Most of the restaurants are company owned.  A group led by
Chairman Chris Sullivan took the company private in 2007.

The Company's balance sheet at June 30, 2010, showed $2.34 billion
in total assets, $2.450 billion in total liabilities, and a total
deficit of $106.2 million.


OTC HOLDINGS: Court Grants 60-Day Extension in Schedules Filing
---------------------------------------------------------------
The Hon. Brendan Linehan Shannon of the U.S. Bankruptcy Court for
the District of Delaware extended to 60 days, after the
commencement date, OTC Holdings Corporation, et al.'s time to file
their schedules of assets and liabilities and statement of
financial affairs.

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.


OTC HOLDINGS: Gets Final Approval to Obtain $40MM DIP Financing
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware, in a final
order, authorized OTC Holdings Corporation, et al., to:

   -- obtain $40 million postpetition financing consisting of up
      to $33 milion of term loans and u to $6.5 million of
      revolving loans and letters of credit from JPMorgan Chase
      Bank, N.A., as administrative agent for itself and a
      syndicate of lenders;

   -- use cash collateral of prepetition secured lenders; and

   -- deem the approximately $1.9 million of outstanding letters
      of credit issued under the the first lien credit agreement
      to have been issued under the DIP agreement.

The Debtors would use the money to fund their Chapter 11 cases,
pay suppliers and other parties.

The Debtors are also authorized to use proceeds of 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.

As reported in the Troubled Company Reporter on September 9, 2010,
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 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.

                        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.


OTC HOLDINGS: Taps Young Conaway to Handle Reorganization Case
--------------------------------------------------------------
The Hon. Brendan Linehan Shannon of the U.S. Bankruptcy Court for
the District of Delaware authorized OTC Holdings Corporation, et
al., to employ Young Conaway Stargatt & Taylor, LLP as bankruptcy
co-counsel.

Young Conaway will, among other things:

   -- pursue the orderly reorganization of the Debtors' assets;

   -- prepare on behalf of the Debtors necessary applications,
      motions, answers, orders, reports and other legal papers;
      and

   -- appear in Court and otherwise protect the interests of the
      Debtors before the Court.

Young Conaway have discussed division of responsibilities with
Debevoise and Plimpton LLP, the Debtors' co-counsel, to make very
effort to avoid duplication of effort in the Chapter 11 cases.

Joel A. Waite, Esq., an attorney at Young Conaway, tells the Court
the Court that Young Conaway received a $100,000 retainer and a
$95,330 payment.  After applying the August payment and a portion
of the retainer to the outstanding balance existing as of the
petition date, Young Conaway will continue to hold the balance of
the retainer as security for postpetition services and expenses
until the conclusion of the cases.

The hourly rates of Young Conaway's personnel are:

     Mr. Waite                      $660
     Kenneth J. Enos                $335
     Andrew L. Magaziner            $275
     Melissa Bertsch, paralegal     $165

Mr. Waite assures the Court that Young Conaway is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

Mr. Waite can be reached at:

     YOUNG CONAWAY STARGATT & TAYLOR, LLP
     The Brandywine Building
     1000 West Street, 17th Floor
     P.O. Box 391
     Wilmington, DE 19801
     Tel: (302) 571-6600
     Fax: (302) 571-1253

The Debtors' co-counsel can be reached at:

     Richard F. Hahn, Esq.
     My Chi To, Esq.
     DEBEVOISE & PLIMPTON LLP
     919 Third Avenue
     New York, NY 10022
     Tel: (212) 909-6000
     Fax: (212) 909-6836

                  About OTC Holdings Corporation

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.


PALI HOLDINGS: Sues to Get Lloyd's Indemnification
--------------------------------------------------
Dawn McCarty at Bloomberg News reported that Pali Holdings Inc.,
early this month commenced an adversary proceeding against Lloyd's
of London to seek payments under its $10 million directors and
officers insurance policy.  "Lloyd's has refused to cover Pali for
all losses" from litigation," including defense and indemnity
costs, Pali contends in the lawsuit.  Lloyd's told Pali it was
denying coverage based on policy exclusions.

Bloomberg recounts that some Pali shareholders sued company
officials in June and August 2008 in behalf of the company
alleging violation of fiduciary duties, conspiracy and abuse of
control, according to bankruptcy court papers.  One suit was
dismissed in February and the other is pending.

Pali Holdings is a New York-based broker dealer.  It filed for
Chapter 11 protection on April 1, 2010 (Bankr. S.D.N.Y. Case No.
10-11727).  Mark S. Indelicato, Esq., at Hahn & Hessen LLP, in New
York, serves as counsel.  The Debtor disclosed $716,257 in assets
and $31,764,247 debts in its schedules.


PANAMSAT CORP: Bank Debts Trade at 4% Off in Secondary Market
-------------------------------------------------------------
Participations in three syndicated loans under which PanAmSat
Corporation, now known as Intelsat Corporation, is a borrower
traded in the secondary market at 95.86 cents-on-the-dollar for
each loan during the week ended Friday, September 24, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 1.41
percentage points per loan from the previous week, The Journal
relates.  PanAmSat pays 250 basis points above LIBOR to borrow
under each facility, which mature simultaneously on Jan. 3, 2014.
The bank debts are not rated by Moody's and Standard & Poor's.
The loan is one of the biggest gainers and losers among 215 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Intelsat Corporation, -- http://www.intelsat.com/-- formerly
known as PanAmSat Corporation, is a global provider of video,
corporate, Internet, voice and government communications services
with a fleet of 25 satellites in-orbit.  The Company provides
transponder capacity to customers on Company-owned and operated
satellites, and deliver third-party entertainment and information
to cable television systems, television broadcasters, direct-to-
home, television operators, Internet service providers,
telecommunications companies, governments and other corporations.
It also provides satellite services and related technical support
for live transmissions for news and special events coverage.  In
addition, the Company provides satellite services to
telecommunications carriers, corporations and Internet service
providers for the provision of satellite-based communications
networks, including private corporate networks.

Intelsat Ltd.'s balance sheet showed total assets of
$12.05 billion, total debts of $12.77 billion and stockholders'
deficit of $722.3 million as of March 31, 2008.


PASCUAL ACEVEDO: Specific Performance Order Stops Rejection
-----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that U.S. Bankruptcy Judge Arthur Gonzalez in Manhattan
ruled a bankruptcy trustee must carry out a pre-bankruptcy order
from a state court requiring specific performance of a real estate
contract.

According to Mr. Rochelle, the case involved an individual who was
under contract to sell real property.  Before bankruptcy, the
buyer obtained a final order from the state appellate court
requiring specific performance.  The order of specific performance
commanded the seller to transfer title in return for payment of
the remainder of the purchase price.  The seller later filed
bankruptcy and found another buyer willing to pay several times
more for the property.

Judge Gonzalez, Mr. Rochelle relates, concluded that the sale to
the original purchaser had to be completed, even in light of the
higher offer.  To reach the result, Judge Gonzalez first ruled
that the contract was no longer an executory contract when the
state court entered an order calling for specific performance.
Judge Gonzalez also ruled that the buyer didn't have a claim in
the bankruptcy case because a claim exists only when the creditor
has a right to payment.

Pascual Acevedo, also known as Pascual Acevedo Santos, filed a
Chapter 7 petition on June 7, 2007 (Bankr. S.D.N.Y. Case No.
07-11702-ajg).  Edward L. Koester -- edkoester@optonline.net -- in
Bronx, New York, served as counsel to the Debtor.


PEOPLES STATE: Weiss Gives Minn. Bank Very Weak E+ Rating
---------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Peoples
State Bank Madison Lake based in Madison Lake, Minn.  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 June 30, 2010, the institution's balance sheet showed
$27.5 million in assets.


PENN TRAFFIC: Chapter 11 Plan Voting Deadline Fixed on October 20
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has
established October 20, 2010, at 5:00 p.m. as the deadline for
ballots accepting or rejecting The Penn Traffic Company, et al.'s
Chapter 11 Plan, as amended.

The deadline for filing ballot report and certification is on
October 22 at 5:00 p.m.  The deadline for filing plan supplement
is on October 13 at 5:00 p.m.

The Court will convene a hearing on October 27 at 1:30 p.m.
Objections, if any are due on October 20 at 4:00 p.m.

As reported in the Troubled Company Reporter on September 20, the
Plan provides a means by which the Debtors' Estates will be
liquidated under Chapter 11 of the Bankruptcy Code, and sets forth
the treatment of all claims against and equity interests in the
Debtors.  The Debtors consummated the sale of substantially all of
their assets, pursuant to a comprehensive sale transaction with
Tops PT, LLC as assignee of Tops Markets, LLC, including
settlements and other arrangements with other significant
creditors.  The Plan implements the distribution of the remaining
sale proceeds in accordance with the priorities set forth in the
Bankruptcy Code and the substantive consolidation of the Debtors'
Estates.

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

                        About Penn Traffic

Syracuse, New York-based The Penn Traffic Company -- dba P&C
Foods, Bi-Lo Foods, and Quality Markets -- operates supermarkets
in Pennsylvania, upstate New York, Vermont, and New Hampshire
under the Bilo, P&C and Quality trade names.  The Company filed
for Chapter 11 bankruptcy protection on November 18, 2009 (Bankr.
D. Del. Case No. 09-14078).  Ann C. Cordo, Esq., and Gregory W.
Werkheiser, Esq., at Morris, Nichols, Arsht & Tunnell assist the
Company in its restructuring effort.  Donlin Recano is the
Company's claims agent.  The Company disclosed $150,347,730 in
assets and $136,874,394 in liabilities as of May 4, 2009.

The Company's affiliates also filed separate Chapter 11 petitions
-- Sunrise Properties, Inc.; Pennway Express, Inc.; Penny Curtiss
Baking Company, Inc.; Big M Supermarkets, Inc.; Commander Foods
Inc.; P and C Food Markets, Inc. of Vermont; and P.T. Development,
LLC.

Following a bankruptcy court-sanctioned auction, Tops Markets LLC
purchased almost all of Penn Traffic's stores as a going concern
by paying $85 million cash.  The sale was structured so Penn
Traffic avoided a $72 million claim for pension plan termination
and a $27 million claim by the principal supplier.


PHILADELPHIA NEWSPAPERS: Lenders Win New Auction with $105MM Bid
----------------------------------------------------------------
Lenders of Philadelphia Newspapers again came out on top in the
fight for the publisher of Philadelphia's two major daily
newspapers, besting a rival group led by local philanthropist
Raymond Perelman with a cash offer of $105 million.

According to The Associated Press, the lenders group surpassed the
$85 million offer of local philanthropist and business mogul,
Raymond Perelman.

The AP relates that the lenders' bid is roughly equivalent to
their $139 million winning deal at the first auction, and includes
$105 million cash plus the newspaper building, valued at about
$30 million, and a few million in costs.

The sale is expected to close by mid-October, according to the AP.

The auction is part of Philadelphia Newspapers' Chapter 11
reorganization plan.  A plan confirmation hearing is set for
Sept. 30, 2010.

                          Revised Plan

Rachel Feintzeig, writing for Dow Jones' Daily Bankruptcy Review
says the new bid is set to be folded into a revised reorganization
plan that still must be approved by the U.S. bankruptcy court in
Philadelphia.  A second plan-confirmation hearing is set to start
this Thursday.

"We will close this transaction under any circumstances," said
Fred Hodara, Esq., at Akin Gump Strauss Hauer & Feld LLP, who
represents the lenders, according to DBR.

The lenders prevailed at the April auction for the company with an
offer that totaled $139 million, including the value of real
estate included in the deal.  The original sale deal fell apart
earlier this month over a union contract dispute, sending the
publisher back to the auction block for a second round of bidding.

DBR relates that the lender group -- which includes Alden Global
Capital and Angelo Gordon & Co. -- faced off at last week's
auction against one opponent, a duo comprising Mr. Perelman, 93
years old, and the Carpenters Union pension fund.

DBR relates Mr. Perelman and the Carpenters Union offered $85
million and hoped that their decision to forgo certain employment
stipulations initially folded into the lenders' offer would
ultimately find favor with the publisher.

According to DBR, J. Gregory Milmoe, Esq., at Skadden, Arps,
Slate, Meagher & Flom, representing the Perelman group, said his
clients were confident they could work with the current newspaper
employees and also thought they could successfully strike a union
contract with the Teamsters, the one union holdout that had
derailed the lenders' initial deal.

DBR relates the lenders ultimately consented to incorporate the
contracts they had already struck with all but one of the unions
representing the company's employees into the new sale deal,
pushing the company to deem their offer the "highest and best,"
and leaving Mr. Perelman behind for the second time.

"We already were the second-place bidder once," Mr. Milmoe said,
alluding to Mr. Perelman's finish at the April auction.

                    About Philadelphia Newspapers

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

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

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

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


PISGAH COMMUNITY: Weiss Gives N.C. Bank Very Weak E- Rating
-----------------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to Pisgah
Community Bank based in Asheville, N.C.  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
June 30, 2010, the institution's balance sheet showed
$57.6 million in assets.


PLAYERS TURF: Associated Fails to Prove Nondischargeability Claim
-----------------------------------------------------------------
Chief Bankruptcy Judge Thomas L. Perkins holds that Associated
Bank, N.A., has failed to prove its claim of nondischargeability
against Raymond J. Sever.  Associated sued Mr. Sever seeking a
determination that a debt to Associated is nondischargeable under
Section 523(a)(4) of the Bankruptcy Code.  Associated alleges
Mr. Sever hid property from the bankruptcy estate of Players Turf
International, LLC.

Mr. Sever was the manager and 83.027% member of Players Turf
International, a business engaged in the sale and installation of
synthetic turf.  PTI ceased is operations end of September 2006.
PTI filed a voluntary Chapter 11 petition on July 24, 2007, with
hopes of a quick sale of substantially all of its assets under
Section 363 of the Bankruptcy Code.  Associated blocked the sale
and foreclosed on the encumbered assets.  PTI's case was converted
to Chapter 7 on November 21, 2007, after it was determined that
Mr. Sever possessed certain vehicles, machinery and equipment not
encumbered by Associated's lien.  The case was closed on April 6,
2010.

Mr. Severs and his spouse filed a Chapter 7 petition on May 29,
2008.

The Chapter 11 case is Raymond J. Sever and Linda A. Sever (Bankr.
C.D. Ill. Case No. 08-81432).  The adversary case is Associated
Bank, N.A. v. Raymond J. Sever and Linda A. Sever Adv. No.
08-8124 (Bankr. C.D. Ill.).  A copy of the Court's decision is
available at:

     http://www.leagle.com/unsecure/page.htm?shortname=inbco20100922601


PRECISION OPTICS: Recurring Net Losses Cue Going Concern Doubt
--------------------------------------------------------------
Precision Optics Corporation, Inc., filed on September 21, 2010,
its annual report on Form 10-K for the fiscal year ended June 30,
2010.

Stowe & Degon LLC, in Westborough, Mass., expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that the Company has suffered
recurring net losses and negative cash flows from operations.

The Company reported a net loss of $660,882 on $3.1 million of
revenue for fiscal 2010, compared to a net loss of $992,135 on
$3.5 million of revenue for fiscal 2009.

The Company has sustained recurring net losses for several years.
As of June 30, 2010, the Company has an accumulated deficit of
$38.4 million.  As of June 30, 2010, cash and cash equivalents
were $416,040, accounts receivable were $505,200, and current
liabilities were $2.1 million.  The Company anticipates that
deferred officers' salaries and director consulting expenses
accrued at June 30, 2010, will be settled by issuing restricted
common stock rather than by cash payments.  These deferred amounts
included in current liabilities at June 30, 2010, total roughly
$574,000.

The Company's balance sheet at June 30, 2010, showed $1.9 million
in total assets, $2.1 million in total liabilities, and a
stockholders' deficit of $164,249.

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

               http://researcharchives.com/t/s?6b8e

                      About Precision Optics

Gardner, Mass.-based Precision Optics Corporation, Inc.
(OTC BB: PEYE) -- http://www.poci.com/-- designs, develops,
manufactures and sells specialized optical systems and components
and optical thin-film coatings.  The Company conducts business in
one industry segment only and its customers are primarily
domestic.  The Company's products and services fall into two
principal areas: (i) medical products for use by hospitals and
physicians; and (ii) advanced optical system design and
development services and products used by industrial customers.


PRIVATE ESCAPES: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Private Escapes Platinum Link, LLC
        3501 West Vine Street, Suite 225
        Kissimmee, FL 34741

Bankruptcy Case No.: 10-13092

Chapter 11 Petition Date: September 23, 2010

Court: U.S. Bankruptcy Court
       District of Delaware (Delaware)

Debtors' Counsel:  Scott D. Cousins, Esq.
                   GREENBERG TRAURIG LLP
                   The Nemours Building
                   1007 North Orange Street, Suite 1200
                   Wilmington, DE 19801
                   Tel: (302) 661-7000
                   Fax: (302) 661-7360

Debtors' Chief
Restructuring
Officer:           CRG PARTNERS GROUP LLC

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

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

Debtor-affiliates that filing separate Chapter 11 petitions on
September 20, 2010:

     Ultimate Escapes Holdings, LLC (Case No. 10-12915)
     Ultimate Resort, LLC
     Ultimate Operations, LLC
     Ultimate Resort Holdings, LLC
     Ultimate Escapes, Inc. (fka Secure
     America Acquisition Corporation)
     P & J Partners, LLC
     UE Holdco, LLC
     UE Member, LLC
     Ultimate Escapes Clubs, LLC
     Ultimate Escapes Elite Club, LLC
     Ultimate Escapes Signature Club, LLC
     Ultimate Escapes Premiere Club, LLC
     Ultimate Scottsdale, LLC
     Ultimate Lake Tahoe, LLC
     Ultimate Colorado, LLC
     Ultimate Telluride Mountain Village, LLC
     Ultimate Naples Strada Bella, LLC
     Ultimate Naples Monteverde, LLC
     Ultimate Palm Beach Ocean, LLC
     Ultimate Maui Wailea Beach, LLC
     Ultimate Sun Valley MacKenzie, LLC
     Ultimate Sun Valley Plaza Townhouse, LLC
     Ultimate New York Trp International, LLC
     Ultimate Kiawah Turtle Beach, LLC
     Ultimate Park City Silverlake, LLC
     Ultimate Jackson Hole Snake River, LLC
     Bahamas Investments I, LLC
     Bahamas Investments II, LLC
     Bahamas Investments III, LLC
     Bahamas Investments IV, LLC
     Cabo Casa Tortuga, LLC
     Cabo Esperanza #1501, LLC
     Cabo Esperanza #1502, LLC
     Cabo Esperanza #1503, LLC
     Cabo Esperanza #1601, LLC
     Cabo Esperanza #1602, LLC
     Cabo Esperanza #1603, LLC
     Cabo Villa Del Sol, LLC
     Cabo Villa Eternidad, LLC
     Cabo San Lucas Villa Paraiso, LLC
     Ultimate Nevis Investments, LLC
     Snowflake Investments I, LLC
     Sunny Isles Investments I, LLC
     Tahoe Investments I, LLC
     Cabo Investments I, LLC
     Mahogany Run Investments I, LLC
     Candlewood Investments I, LLC
     Ultimate Scottsdale Rocks, LLC
     Ultimate Beaver Creek, LLC
     Ultimate Indian Rocks Beach, LLC
     Ultimate Key West, LLC
     Ultimate Lake Las Vegas, LLC
     Ultimate Newport Americas, LLC
     Private Escapes of La Quinta Platinum, LLC
     Private Escapes La Quinta I, LLC
     Private Escapes La Quinta II, LLC
     Private Escapes Platinum of Copper Mountain, LLC
     Private Escapes Platinum Telluride, LLC
     Private Escapes of Steamboat, LLC
     Private Escapes of Lake Oconee, LLC
     Private Escapes of Waikoloa, LLC
     Private Escapes of Waikoloa II, LLC
     Private Escapes of Chicago, LLC
     Private Escapes of Currituck, LLC
     Private Escapes Platinum Currituck, LLC
     Private Escapes of Tahoe, LLC
     Private Escapes of Platinum Lake George, LLC
     Private Escapes of One Central Park West, LLC
     Private Escapes 1600 Broadway LLC
     Private Escapes Link, LLC
     Private Escapes Platinum One Central Park West, LLC
     Private Escapes of Kiawah, LLC
     Private Escapes of Platinum Kiawah, LLC
     Private Escapes of Jackson Hole, LLC
     Private Escapes Villa 304, LLC
     Private Escapes Platinum Cabo, LLC
     Private Escapes La Playa, LLC
     Private Escapes of Cabo, LLC
     Private Escapes Platinum TCI, LLC
     Private Escapes Platinum Chicago, LLC
     Private Escapes of Fox Acres, LLC
     Private Escapes of Stow, LLC
     Private Escapes La Costa, LLC
     Private Escapes Platinum La Costa, LLC
     Private Escapes Borgo di Vagli, LLC

Type of Business: Ultimate Escapes, Inc., is a luxury
                  destination club that sells club memberships
                  offering members reservation rights to use its
                  vacation properties, subject to the rules of
                  the club member's Club Membership Agreement.
                  The Company's properties are located in various
                  resort locations throughout the world.
                  Web site: http://www.ultimateescapes.com/

A list of Private Escapes Platinum's 20 largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/deb10-13092.pdf

Ultimate Escapes' List of 20 Largest Unsecured Creditors:

Entity/Person                 Nature of Claim    Claim Amount
-------------                 ---------------    ------------
Trump International Hotel     Trade Debt            $496,029
& Tower
1 Central Part West
New York, NY 10023

Weinstock & Scavo, P.C.       Professional          $400,561
3405 Peidmont Road N.E.       Service
Suite 300
Atlanta, GA 30305

Mintz Levin Coch Ferris       Professional          $375,000
Glovsky & Pompeo              Service
Attn: Jeffrey Schultz
66 Third Avenue
Chrysler Center
New York, NY 10017

Dennis Evans                 Liquidation            $231,000
                             Settlement

Francisco Acosta             Trade Debt             $208,000

Michael Parker               Trade Debt             $181,800

Strauss Zelnick              Litigation             $171,666
                             Settlement

Condominium Esperanza        Trade Debt             $158,069
A.C. (WIRE)

Blaine Parrott               Trade Debt             $157,600

Clive Buckley and Keri       Litigation             $152,305
Buckley                      Settlement

Kenneth D. Phillips          Trade Debt             $150,000

WorlHotels                   Trade Debt             $148,793

Ito Group                    Litigation             $140,266
                             Settlement

Maxwell Rhee and S. Kim      Trade Debt             $140,000

P&S LLC                      Litigation             $135,000
                             Settlement

Creg McDonald                Trade Debt             $132,610

Greg Dugas                   Trade Debt             $123,000

Marcus Acheson               Trade Debt             $120,900

Ian Mead                     Trade Debt             $120,333

Patrick Reardon              Trade Debt             $119,066


PROMETRIC INC: Moody's Raises Corporate Family Rating to 'B1'
-------------------------------------------------------------
Moody's Investors Service raised Prometric Inc.'s corporate family
rating to B1 from B2, the probability-of-default rating to B1 from
B2, and the rating on the senior secured credit facilities to Ba2
from Ba3.  The ratings outlook was changed to stable from
positive.

These ratings were upgraded:

  -- Corporate family rating to B1 from B2;

  -- Probability-of-default rating to B1 from B2;

  -- $25 million senior secured revolving credit facility due 2012
     to Ba2 (LGD2, 19%) from Ba3 (LGD2, 24%);

  -- $129 million senior secured term loan due 2013 to Ba2 (LGD2,
     19%) from Ba3 (LGD2, 24%).

                        Ratings Rationale

The change in the corporate family rating to B1 reflects
Prometric's improved operating performance and Moody's expectation
that operating performance will continue to improve through new
business.  Combined with mandatory debt reduction over the past
year (associated with an excess cash flow sweep provision in the
credit agreement), Moody's expect sustainable improvements in
credit metrics.

Prometric's B1 rating is supported by its moderate leverage with
debt to EBITDA below 4.0 times, EBITDA less capex coverage of
interest expense in excess of 2.5 times, positive cash flow
generation that has accommodated debt reduction, operating margin
expansion, and, in Moody's view, a good liquidity profile due to a
relatively large unrestricted cash balance and expectations for
free cash flow generation.  However, the rating remains
constrained by the company's somewhat moderate scale, its niche
focus, reliance on relatively large contracts, and pressure on
certain of its verticals.

The stable outlook reflects Moody's expectation that Prometric
will continue to organically expand its seat capacity and
revenue/earnings, and reduce debt levels such that credit metrics
continue to improve from current levels.

While Prometric's relatively moderate scale constrains the rating,
in the event that it sustainably increases its relative scale
without incrementally increasing leverage, the ratings could be
upgraded.  A positive action would also require that the company
maintain a good liquidity profile.

If the loss of a material contract and/or erosion in margins
(potentially implying a change in business mix) pressures
Prometric's operating performance such that debt to EBITDA exceeds
4.0 or EBITDA less capex coverage of interest expense falls below
2.0 times, this could pressure the outlook and/or ratings.  A
weakening of the company's liquidity profile or any use of cash
outside of Moody's expectation, including debt-financed
acquisitions, could also pressure the ratings.

Headquartered in Baltimore, Maryland, Prometric Inc. is a provider
of technology-based assessment solutions including test
development and delivery for government entities, professional
organizations, academic institutions, corporations and information
technology clients.


PUBLIC SAVINGS: Weiss Gives Pa. Bank Very Weak E+ Rating
--------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Public
Savings Bank based in Huntingdon Valley, Pa.  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
June 30, 2010, the institution's balance sheet showed
$50.9 million in assets.


QUALITY BANK: Weiss Gives N.D. Bank Very Weak E Rating
------------------------------------------------------
Weiss Ratings has assigned its "very weak" E rating to Quality
Bank based in Page, N.D.  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
June 30, 2010, the institution's balance sheet showed
$27.2 million in assets.


RAJ RAKKAR: Case Summary & Largest Unsecured Creditor
-----------------------------------------------------
Debtor: Raj Rakkar, LLC
        18555 Pistacchio Dr
        Madera, CA 93637

Bankruptcy Case No.: 10-60943

Chapter 11 Petition Date: September 22, 2010

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

Judge: Whitney Rimel

Debtor's Counsel: Hilton A. Ryder, Esq.
                  MCCORMICK BARSTOW LLP
                  5 River Park Place East
                  P.O. Box 28912
                  Fresno, CA 93729-8912
                  Tel: (559) 433-1300

Scheduled Assets: $1,855,000

Scheduled Debts: $1,780,000

In its list of 20 largest unsecured creditors, the Company placed
only one entry:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Debra Hood, CPA                                  $10,000
160 N. O Street
Exeter, CA 93221

The petition was signed by Raj Rakkar, managing member.


RAY ANTHONY: Gets Court's Nod to Tap Lampl as Bankruptcy Counsel
----------------------------------------------------------------
Ray Anthony International, LLC, sought and obtained authorization
from the U.S. Bankruptcy Court for the Western District of
Pennsylvania to employ Robert O. Lampl, John P. Lacher and Elsie
R. Lampl as bankruptcy counsel.

Messrs. and Ms. Lampl will, among other things:

     -- assist in the administration of the Debtor's state;

     -- represent the Debtor on matters involving legal issues
        that are present or are likely to arise in the case;

     -- prepare any legal documentation on behalf of the Debtor;
        and

     -- review reports for legal sufficiency and furnish
        information on legal matters regarding legal actions and
        consequences.

The hourly rates of Messrs. and Ms. Lampl's personnel are:

        a. Robert O. Lampl                 $400
        b. John P. Lacher                  $375
        c. Elsie R. Lampl                  $250
        d. Paralegal                       $125

The Debtor assured the Court that the Lampls are "disinterested
persons" as that term is defined in Section 101(14) of the
Bankruptcy Code.

West Mifflin, Pennsylvania-based Ray Anthony International, Inc.,
filed for Chapter 11 bankruptcy protection on September 15, 2010
(Bankr. W.D. Pa. Case No. 10-26576).  The Debtor estimated its
assets and debts at $50 million to $100 million as of the Petition
Date.

Affiliate Ray G. Anthony filed a separate Chapter 11 petition on
September 14, 2010 (Bankr. W.D. Pa. Case No. 10-26552).


RAYMOND BABCOCK: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Joint Debtors: Raymond Babcock
               Susan Babcock
               28039 Scott Rd., D-222
               Murrieta, CA 92563

Bankruptcy Case No.: 10-40660

Chapter 11 Petition Date: September 22, 2010

Court: United States Bankruptcy Court
       Central District Of California (Riverside)

Judge: Catherine E. Bauer

Debtor's Counsel: Ali E. Galam, Esq.
                  GALAM LAW OFFICES
                  26193 Jefferson Ave., Suite B
                  Murrieta, CA 92562
                  Tel: (951) 445-4890
                  Fax: (951) 445-4893
                  E-mail: aeligalam@gmail.com

Scheduled Assets: $1,335,525

Scheduled Debts: $2,360,466

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


RCS BANK: Weiss Gives Mo. Bank Very Weak E- Rating
--------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to RCS Bank
based in New London, Mo.  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
June 30, 2010, the institution's balance sheet showed
$60.6 million in assets.


REALOGY CORP: Bank Debt Trades at 13% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Realogy Corp. is a
borrower traded in the secondary market at 87.36 cents-on-the-
dollar during the week ended Friday, September 24, 2010, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.61 percentage
points from the previous week, The Journal relates.  The Company
pays 300 basis points above LIBOR to borrow under the facility.
The bank loan matures on September 30, 2013, and carries Moody's
B1 rating and Standard & Poor's CCC- rating.  The loan is one of
the biggest gainers and losers among 215 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

                        About Realogy Corp.

Realogy Corp. -- http://www.realogy.com/-- a global provider of
real estate and relocation services with a diversified business
model that includes real estate franchising, brokerage, relocation
and title services.  Realogy's world-renowned brands and business
units include Better Homes and Gardens Real Estate, CENTURY 21,
Coldwell Banker, Coldwell Banker Commercial, The Corcoran Group,
ERA, Sotheby's International Realty, NRT LLC, Cartus and Title
Resource Group.  Collectively, Realogy's franchise systems have
around 15,000 offices and 270,000 sales associates doing business
in 92 countries around the world.

Headquartered in Parsippany, N.J., Realogy is owned by affiliates
of Apollo Management, L.P., a leading private equity and capital
markets investor.  Realogy fully supports the principles of the
Fair Housing Act.

The Company's balance sheet at June 30, 2010, showed $8.18 billion
in total assets, $9.13 billion in total liabilities, and a
stockholders' deficit of $951.00 million.

Realogy carries a 'CC' corporate credit rating with a "developing"
outlook from Standard & Poor's.  S&P noted that leverage was high,
at 15x at March 2010, although this was an improvement compared to
20x one year ago.

It has 'Caa2' corporate family and probability of default ratings,
with negative outlook, from Moody's.


RESIDENTIAL PROPERTY: Case Summary & Creditors List
---------------------------------------------------
Debtor: Residential Property Investments, LLC
        302 West Commerce Street
        Dallas, TX 75208

Bankruptcy Case No.: 10-36604

Chapter 11 Petition Date: September 22, 2010

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

Judge: Stacey G. Jernigan

Debtor's Counsel: Eric A. Liepins, Esq.
                  ERIC A. LIEPINS, P.C.
                  12770 Coit Road, Suite 1100
                  Dallas, TX 75251
                  Tel: (972) 991-5591
                  E-mail: eric@ealpc.com

Scheduled Assets: $1,874,706

Scheduled Debts: $2,022,650

A list of the Company's 16 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txnb10-36604.pdf

The petition was signed by Eric Hill, managing member.


RICH CAPITOL: Court Won't Equitably Subordinate Wachovia's Claim
----------------------------------------------------------------
WestLaw reports that a financial institution's prepetition
conduct, after being named as a defendant in a lawsuit brought by
a Chapter 11 debtor, in refusing to convert a construction loan
that it had extended to the debtor into permanent or "mini-
permanent" financing, in accelerating obligations owed by the
debtor based on an alleged default, in freezing the debtor's bank
accounts, and in seeking to foreclose its interests, all in an
alleged bad faith attempt to coerce the debtor into abandoning its
legal claims, did not provide a basis for equitable subordination
of the financial institution's claim, as the claim of a non-inside
creditor.  Regardless of the financial institution's motives in
acting as it did, all of its actions were permitted under the
terms of the financial documents between parties, which, for
example, did not require conversion of the construction loan
unless the debtor met certain ratios of net income to debt service
coverage that it failed to achieve.  In re Rich Capitol, LLC, ---
B.R. ----, 2010 WL 3611452 (Bankr. S.D. Fla.) (Kimball, J.).

Rich Capitol, LLC d/b/a Capital Walk Apartments sued Wachovia
Bank, N.A. (Bankr. S.D. Fla. Adv. Pro. No. 09-01965) on Aug. 28,
2009, seeking to equitably subordinate the lender's $20.7 million
claim.  Wachovia moved for summary judgment and won.  "Because
Wachovia is not an insider or fiduciary of the Debtor, the first
prong of the equitable subordination test requires the Debtor to
prove with particularity that Wachovia's actions were egregious,
tantamount to fraud, spoliation or overreaching," the Honorable
Erik P. Kimball explains.  "There is sufficient evidence in the
form of the Affidavit, the Loan Documents and correspondence
between Wachovia and the Debtor, to negate the allegations made by
the Debtor in the Complaint.  The Debtor did not respond with
specific facts showing that Wachovia's acts were egregious.  Thus,
there is no genuine issue of material fact relating to Wachovia's
conduct. As the Debtor failed to satisfy this first requirement in
the equitable subordination analysis, it is not necessary for the
Court to address whether there was injury to creditors or an
unfair advantage conferred on Wachovia, or whether subordination
would be inconsistent with the provisions of the Bankruptcy Code."

Headquartered in Boca Raton, Florida, Rich Capitol, LLC dba
Capital Walk Apartments, filed for Chapter 11 protection (Bankr.
S. D. Fla. Case No. 09-25422) on July 28, 2009.  Heather L.
Harmon, Esq., represents the Debtors in its restructuring efforts.
In its petition, the Debtor estimated its assets and debts at
$10 million to $50 million.  Heather L. Ries, Esq., and Michael R.
Bakst, Esq., at Ruden, McClosky, Smith, Schuster & Russell, P.A.,
in West Palm Beach, Fla., represent Wachovia Bank, N.A.


RITE AID: Bank Debt Trades at 11% Off in Secondary Market
---------------------------------------------------------
Participations in a syndicated loan under which Rite Aid Corp. is
a borrower traded in the secondary market at 88.98 cents-on-the-
dollar during the week ended Friday, September 24, 2010, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents a drop of 0.79 percentage points
from the previous week, The Journal relates.  The Company pays 175
basis points above LIBOR to borrow under the facility.  The bank
loan matures on May 25, 2014, and carries Moody's B3 rating and
Standard & Poor's B+ rating.  The loan is one of the biggest
gainers and losers among 215 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

                       About Rite Aid Corp.

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


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

                           *     *     *

Rite Aid carries 'Caa2' probability of default and corporate
family ratings from Moody's Investors Service.  It has a 'B-'
corporate credit rating from Standard & Poor's Ratings Services.


ROADHOUSE FINANCING: Moody's Assigns 'B2' Corporate Family Rating
-----------------------------------------------------------------
Moody's Investors Service assigned a B2 Corporate Family Rating
and Probability of Default Rating to Roadhouse Financing Inc.
(Roadhouse, merger sub).  At the same time, Moody's assigned a B2
rating to the proposed $335 million 2nd lien senior secured notes
due 2017.  The rating outlook is negative.  It is Moody's
understanding that at the close of the transaction, Roadhouse
Finance Inc. will merge into Logan's Roadhouse, Inc. (Newco --
Logan's) as the surviving entity of such transaction.  The rating
has been assigned subject to the completion of the proposed
acquisition and the review of the executed documentation.

These ratings were assigned:

Roadhouse Financing Inc.

  -- Corporate family rating at B2;
  -- Probability-of-default rating at B2;
  -- $355 million senior secured notes due 2017 at B2 (LGD4, 50%);

Rating outlook: negative

All of the existing ratings of Logan's Roadhouse Inc. (Oldco --
Logan's), including its B2 corporate family rating and B2
probability of default rating, are unchanged and remain under
review for possible downgrade.  The review was initiated on
August 31, 2010.  Moody's expects to conclude review and withdraw
all Oldco's ratings upon closing of the transaction.

                        Ratings Rationale

The proceeds from the issuance, along with cash equity from new
owners and management and existing cash balance will be used to
finance a planned acquisition by an affiliate of Kelso & Company
from its current owners for a total consideration of approximately
$585 million.  The proposed debt structure will be primarily
comprised of a $30 million 1st lien senior secured revolving
credit facility (not rated by Moody's) and the $355 million 2nd
lien sr. secured notes.

The assigned B2 CFR reflects Logan's high leverage, yet the
demonstrated relatively resilient operating performance in the
past year under a challenging operating environment and Moody's
expectation that its revenue and operating profit will continue to
grow as industry condition stabilizes in the medium term .
Moody's believes that Logan's Roadhouse outperformed its casual
dining peers in terms of same store sales growth and guest traffic
over the past two years, in part due to strong appeal for value
proposition in a recessionary economy.  Despite the increase in
financial leverage as a result of LBO, the B2 reflects Moody's
view that the leverage as measured by debt/EBITDA would gradually
decrease to below 6.0x over the next 12-18 months, mainly driven
by EBITDA growth due to continued store expansion and organic
revenue growth as SSS revert to positive.  Deleveraging could also
come from debt reduction as the bond indenture would allow modest
optional redemption with excess free cash flow.  However, Moody's
expects free cash flow generation would be very modest in the
first few years as Logan's will likely focus on opening new
restaurants, which will require significant amount of capital.
Proforma adjusted debt/EBITDA (based on May 2010 results and
incorporating Moody's analytic adjustments) would be approximately
6.2x.

The B2 rating also incorporates Logan's modest scale and notable
regional geographic concentration as compared to other much bigger
competitors in the casual dining steakhouse or bar and grill
segments of the restaurant industry.  In addition, its menu item
with a high focus on beef, might expose the company with beef-
related food safety risk and commodity pricing volatilities.  In
Moody's opinion, Logan's primarily company-owned business model
makes its operating results more susceptible to fluctuations in
commodity and operating costs, and execution risk associated with
capital spending.

Favorably, the B2 CFR considers management's ability to sustain a
relatively stable profitability through the economic downturn by
effectively controlling cost and improving efficiency to offset
the adverse topline pressure.  Further, Moody's expects short-term
liquidity will be adequate and the store expansion will be
implemented at a measured pace without depressing free cash flow
to negative over an extended period.

The negative outlook, however, encompasses the higher financial
leverage, materially weakened balance sheet and somewhat weaker
liquidity (albeit adequate) from the transaction.  The outlook
also considers the uncertainty on consumer spending as
unemployment rate remains stubbornly high as well as potential
margin impact from commodity input cost inflation such as beef in
the future, either factor might delay Logan's deleveraging pace.
In Moody's view, inability to reduce leverage below 6.0x in the
next 12-18 months would warrant a lower rating.  Conversely, the
rating outlook could be stabilized if the debt/EBITDA sustains
well below 6.0x and free cash flow remains positive.

Roadhouse Financing Inc. is in the process of acquiring Logan's
Roadhouse Inc., which operates 188 and franchises 26 traditional
American roadhouse-style steakhouses in 23 states across the
country.  Company-owned units are largely concentrated in the
south and southeastern United States with franchise locations in
California and the Carolinas.


ROBERTO ALMARAZ: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Roberto Almaraz
          aka Robert Almaraz
          dba Apartments Repair Services
        3915 West 111th Place
        Inglewood, CA 90303

Bankruptcy Case No.: 10-50424

Chapter 11 Petition Date: September 22, 2010

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

Judge: Victoria S. Kaufman

Debtor's Counsel: David A. Tilem, Esq.
                  LAW OFFICES OF DAVID A TILEM
                  206 N Jackson St., Ste 201
                  Glendale, CA 91206
                  Tel: (818) 507-6000
                  Fax: (818) 507-6800
                  E-mail: davidtilem@tilemlaw.com

Scheduled Assets: $7,263,668

Scheduled Debts: $8,090,244

A list of the Debtor's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-50424.pdf


ROCK & REPUBLIC: Asks Court to Approve Exclusive Sale Talks
-----------------------------------------------------------
Rock & Republic Enterprises Inc. is seeking bankruptcy-court
permission to carry out exclusive negotiations with a potential
buyer of its assets that has submitted a non-binding letter of
intent to acquire the apparel company for at least $33 million,
Dow Jones' DBR Small Cap reports.

New York-based Rock & Republic Enterprises, Inc., is a wholesale
and retail apparel company specializing in an avant-garde and
distinctive line of clothing.  Originally started in 2002 by its
Chief Executive Officer, Michael Ball, primarily as an American
jeans company, the Debtors have expanded their lines to include
high fashion clothing for men, women and children as well as
shoes, cosmetics and accessories.  The Company's merchandise can
be found at most high end retail stores such as Nordstrom, Neiman
Marcus, Bergdorf Goodman, Bloomingdales, Lord & Taylor, Harvey
Nichols and Saks Fifth Avenue, as well as in small upscale
boutiques.

The Company filed for Chapter 11 bankruptcy protection on April 1,
2010 (Bankr. S.D.N.Y. Case No. 10-11728).  Alex Spizz, Esq., and
Arthur Goldstein, Esq., at Todtman, Nachamie, Spizz & Johns, P.C.,
assist the Company in its restructuring effort.  Manderson,
Schaefer & McKinlay, LLP, is the Company's special corporate
counsel.  The Company estimated $50 million to $100 million in
assets and $10 million to $50 million in liabilities.

The Company's affiliate, Triple R, Inc., filed a separate
Chapter 11 petition on April 1, 2010 (Bankr. S.D.N.Y. Case No. 10-
11729).


ROCK US: Investors Object to Prepack Chapter 11 Plan
----------------------------------------------------
Bankruptcy Law360 reports that two former U.S. executives of Rock
US Holdings Inc. are fighting the Chapter 11 reorganization plan
of the real estate company and three other affiliates of insolvent
U.K. parent Rock Joint Ventures Ltd., arguing the proposal
includes unlawful liability releases.  Scott Pudalov and Alan
Wildes filed a preliminary objection in the U.S. Bankruptcy Court
for the District of Delaware on Thursday.

The U.S. Bankruptcy Court will consider the adequacy of the
Disclosure Statement and confirmation of the Plan during a hearing
set for November 9, 2010, at 9:30 a.m. prevailing Eastern Time.
Objections to the Disclosure Statement and the Plan must be filed
with the Clerk of the Court by October 18, 2010.

The Plan is intended to facilitate the sale of the Debtors'
properties.  The process in place is intended to maximize the
recoveries available for the benefit of the estates, and the Bank
of Scotland plc is agreeing to fund the costs of operation of the
properties, the payment of ordinary course obligations of the
properties and special capital improvements, and the costs of
confirming the Plan, out of its cash collateral and asset sale
proceeds.  Secured and priority liabilities are being funded as
part of the transactions contemplated by the Plan.  Given the
Debtors' current debt obligations and lack of adequate liquidity
to fund all of its operating needs, the Debtors have no choice but
to pursue the sale process in the manner described.

The transactions proposed under the Plan will (i) pay all allowed
administrative claims, priority tax claims, other secured claims
and other priority claims in full; (ii) facilitate the sale or
other disposition of the properties and other assets of the
Debtors; (iii) provided a mechanism for relieving the properties
of the encumbrances caused by the ROFR, ROFO, and Landmark
Designation Process; and (iv) allow the orderly wind down of the
operations of the Debtors.

The transactions will convey clean title to the Fifth Avenue
Property to its purchaser and the Madison Avenue Property to its
purchaser in exchange for, as applicable, cash consideration and
the assumption of mortgage debt and other liabilities, or
cancellation of debt if the senior lenders determine to take title
to the properties.  The Plan provides that, if the Madison Avenue
and the Fifth Avenue Purchase Agreements have terminated prior to
their respective closing dates, at the senior lenders' option, the
senior lenders may convey title to either or both of the
properties to the senior lenders in full satisfaction of their
Class 1 claims or designate one more entities, as applicable, as
purchasers of the properties.

Copies of the Plan and the Disclosure Statement are available for
free at:

           http://bankrupt.com/misc/ROCK_US_plan.pdf
           http://bankrupt.com/misc/ROCK_US_plan2.pdf
           http://bankrupt.com/misc/ROCK_US_ds.pdf
           http://bankrupt.com/misc/ROCK_US_ds2.pdf

                           About Rock US

Rock US Holdings Inc. filed for Chapter 11 bankruptcy protection
on September 15, 2010 (Bankr. D. Del. Case No. 10-12892).
Affiliates Rock US Investments LLC (Bankr. D. Del. Case No. 10-
12893), Rock New York (100-104) Fifth Avenue LLC (Bankr. D. Del.
Case No. 10-12894), and Rock New York (183 Madison Avenue) LLC
(Bankr. D. Del. Case No. 10-12895) filed separate Chapter 11
petitions.

Rock US Holdings estimated assets at up to $50,000 debts at
$100 million to $500 million as of the Petition Date.  Rock US
Investments estimated its assets at up to $50,000 and debts at
$100 million to $500 million; Rock New York (100-104) estimated
its assets at $100 million to $500 million and debts at
$100 million to $500 million; and Rock New York (183 Madison)
estimated its assets at $100 million to $500 million and debts at
$100 million to $500 million as of the Petition Date.

Jamie Lynne Edmonson, Esq., Neil B. Glassman, Esq., at Bayard PA,
are the Debtors' general bankruptcy counsel.

Hogan Lovells US LLP is the Debtors' special corporate and
Litigation counsel.

Jones Day is the Debtors' special real estate counsel.


ROCK US: Asks for OK on Bid Incentives for Purchasers of Assets
---------------------------------------------------------------
Rock US Holdings Inc., et al., ask for the U.S. Bankruptcy Court
for the District of Delaware to approve certain bid incentives for
purchasers of the Debtors' properties.

The Debtors seek to sell substantially all of their assets,
consisting primarily of two commercial office buildings at 183
Madison Avenue, New York, New York, and 100-104 Fifth Avenue, New
York, New York.  The sales of the properties will fully liquidate
the assets of the Debtors' estates, with proceeds to be applied in
accordance with the Debtors' reorganization plan.

In August 2010, Rock New York (183 Madison Avenue LLC), the
Madison Avenue Debtor, entered into an agreement of sale and
purchase with  Rigby 183 LLC for the sale of the Madison Avenue
Property for a purchase price of $75,244,144, plus assumption of
the assumed liabilities.

A copy of the agreements is available for free at:

       http://bankrupt.com/misc/ROCK_US_madisonavenue_apa.pdf
       http://bankrupt.com/misc/ROCK_US_madisonavenue_apa2.pdf

In September 2010, Rock New York (100-104 Fifth Avenue) LLC, the
Fifth Avenue Debtor, entered into a sale and purchase agreement
with 100-104 Fifth, LLC, for the sale of the Fifth Avenue property
for a purchase price of $93,500,000, plus assumption of the
assumed liabilities.  A copy of the agreement is available for
free at http://bankrupt.com/misc/ROCK_US_fifthavenue_apa.pdf

The Debtors are seeking to sell the properties through
confirmation of the Plan without conducting a further auction for
the sale of the properties.


The bid incentives, requested by the Purchasers from the Debtors,
include (i) approval of a break-up fee equal to 1% of the purchase
price under the purchase agreements, payable in the event that the
agreements are terminated for certain limited reasons and a
competing transaction is closed; and (ii) certain no-solicitation
and overbid protections with appropriate fiduciary "outs".

Bank of Scotland plc, which holds mortgages, liens and security
interests securing indebtedness of the Debtors in the aggregate
amount of at least $303 million, and whose claims are
significantly undersecured, has accepted the Plan and consents to
the sale of the properties to the Purchasers.

Rock US Holdings Inc. filed for Chapter 11 bankruptcy protection
on September 15, 2010 (Bankr. D. Del. Case No. 10-12892).
Affiliates Rock US Investments LLC (Bankr. D. Del. Case No. 10-
12893), Rock New York (100-104) Fifth Avenue LLC (Bankr. D. Del.
Case No. 10-12894), and Rock New York (183 Madison Avenue) LLC
(Bankr. D. Del. Case No. 10-12895) filed separate Chapter 11
petitions.

Rock US Holdings estimated assets at up to $50,000 debts at
$100 million to $500 million as of the Petition Date.  Rock US
Investments estimated its assets at up to $50,000 and debts at
$100 million to $500 million; Rock New York (100-104) estimated
its assets at $100 million to $500 million and debts at
$100 million to $500 million; and Rock New York (183 Madison)
estimated its assets at $100 million to $500 million and debts at
$100 million to $500 million as of the Petition Date.

Jamie Lynne Edmonson, Esq., Neil B. Glassman, Esq., at Bayard PA,
are the Debtors' general bankruptcy counsel.

Hogan Lovells US LLP is the Debtors' special corporate and
Litigation counsel.

Jones Day is the Debtors' special real estate counsel.


RONIELIO GARCIA: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Joint Debtors: Ronielio Garcia
               Theresa Garcia
               1947 W. 237th Place
               Torrance, CA 90501

Bankruptcy Case No.: 10-50600

Chapter 11 Petition Date: September 23, 2010

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

Debtors' Counsel: Jerry A. Chad, Esq.
                  LAW OFFICES OF JERRY A. CHAD
                  P.O. Box 358
                  Topanga, CA 90290
                  Tel: (310) 739-4616
                  Fax: (310) 455-3079
                  E-mail: jerrychadjd@aol.com

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

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

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-50600.pdf


RUSTICK LLC: In-Court Auction Scheduled for Oct. 7
--------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Pennsylvania
has approved uniform bidding procedures proposed by Rustick, LLC,
in connection with the sale of substantially all of its assets
(excluding cash, deposits, a collateral account and the estate's
avoidance actions).  The Sale Transaction underpins the Debtor's
Amended Plan of Reorganization filed with the Court.

The Debtor will receive bids until 5:00 p.m. on Sept. 20, 2010,
and hold an auction at 3:00 p.m. on Oct. 7, 2010, in the
Bankruptcy Court in Erie, Pa.

The deadline for filing any Objection to the sale is Sept. 29,
2010.

The Debtor intends to seek confirmation of the Plan and approval
of the Sale to the highest bidder at a hearing scheduled to be
held on Oct. 21, 2010 at 3:00 p.m.

Information about the sale can be obtained from:

         Richard Sterner
         STERNER CONSULTING
         19 Waterfront Drive
         Pittsburgh, PA 15222
         Telephone: (412) 562-0891
         Fax: (412) 562-0892
         E-mail: richardsterner@msn.com

Copies of the court-approved bidding procedures can be obtained
from the Debtor's lawyers:

         Lawrence C. Bolla, Esq.
         Nicholas R. Pagliari, Esq.
         QUINN, BUSECK, LEEMHUIS, TOOHEY, & KROTO, INC.
         2222 West Grandview Blvd.
         Erie, PA 16506
         Fax: (814) 835-2076
         E-mail: lbolla@quinnfirm.com
                 npagliari@quinnfirm.com

              - and -

         Jennifer L. Maleski, Esq.
         Peter C. Hughes, Esq.
         DILWORTH PAXSON LLP
         1500 Market Street, Suite 3500E
         Philadelphia, PA 19102
         Telephone: (215) 575-7000
         Fax: (215) 575-7200
         E-mail: jmaleski@dilworthlaw.com
                 phughes@dilworthlaw.com

Kane, Pa.-based landfill owner and operator Rustick, LLC, sought
Chapter 11 protection (Bankr. W.D. Pa. Case No. 10-10902) on
May 13, 2010.  The Company estimated its assets at less than
$10 million and its debts at more than $50 million at the time of
the filing.  The United States Trustee has appointed an official
committee of unsecured creditors in the case.  The Committee has
retained Robert S. Bernstein, Esq., and Kirk B. Burkley, Esq., at
Bernstein Law Firm, P.C. as counsel; and James W. Fox and
Executive Sounding Board Associates, Inc., as its Financial
Advisor.  Merrill Lynch is Rustick's largest creditor and provided
post-petition financing.


SAXBY'S COFFEE: Pa. Court Denies Confirmation of Amended Plan
-------------------------------------------------------------
The Hon. Eric L. Frank denied confirmation of the Second Amended
Chapter 11 Plan of Reorganization of Saxby's Coffee Worldwide,
LLC, holding that the general unsecured creditors would receive
only a modest distribution under the Plan and have rejected the
Plan.  The parties that would be restrained from proceeding
against the Releasees under the Plan would receive little or no
distribution under the Plan and would be precluded from asserting
their claims against the Releasees.  If the Plan were confirmed,
the rights of the refrained parties effectively would be nullified
without any commensurate benefit to them under the Plan.

The Court held a confirmation hearing on August 20 and 23, 2010.
The U.S. Trustee and creditors Marshall Katz, Greg Bayer and John
Larson objected to the Plan.

The Debtor requested that the Plan be confirmed under 11 U.S.C.
Sec. 1129(b).  The Debtor asserted that a proposed contribution to
the Debtor of $250,000 by its members Joseph Grasso and Kevin
Meakim is sufficient to satisfy the "new value" corollary/
exception to the absolute priority rule and to permit the court to
find that the Plan is "fair and equitable" within the meaning of
11 U.S.C. Sec. 1129(b)(2)(B).  The centerpiece of the Debtor's
reorganization strategy is contained in Paragraph V.B.7 of the
Plan.  Paragraph V.B.7. effectively would enjoin any party that
has asserted or could assert a claim against the Debtor from,
inter alia, commencing or continuing any litigation against
Nicholas Bayer, the Debtor's chief executive officer, Messrs.
Grasso and Meakim and Coffee Shops International, LLC, a company
also controlled by Messrs. Grasso and Meakim, based on claims
arising before the commencement of the Debtor's bankruptcy case,
including the enforcement of any judgments against the Releasees.

CSI is in the business of roasting and distributing coffee beans.

"While the Debtor's reorganization goals are worthy, the end does
not justify the means.  To confirm the Plan proposed here would
establish an unprecedented, unwarranted and inequitable expansion
to any exception to 11 U.S.C. Sec. 524(e) that may exist," Judge
Frank held

A hearing on the U.S. Trustee's Motion to Dismiss or Convert the
case is scheduled on September 29, 2010.  Judge Frank said the
Debtor during the hearing can advise the court whether it wishes
propose and seek confirmation of a further amended chapter 11
plan.  If the U.S. Trustee wishes to press her motion, the Debtor
will need to make some showing regarding the likely terms and the
feasibility of any amended plan it might propose.  Such a showing
is necessary in light of the evidence the Debtor presented at the
confirmation hearing that Bancorp Bank's exit financing was
necessary and was conditioned on the confirmation of a plan
containing third party release, a condition that cannot be
satisfied.

A copy of the Court's memorandum is available at"

     http://www.leagle.com/unsecure/page.htm?shortname=inbco20100922613

Conshohocken, Pennsylvania-based Saxby's Coffee Worldwide, LLC, is
a 37-store chain that operates 14 stores in Pennsylvania, where it
acquired parts of the former Bucks County Coffee Co. in 2008,
along with others scattered from Washington and Atlanta to
California.

The Company filed for Chapter 11 bankruptcy protection on
August 5, 2009 (Bankr. E.D. Pa. Case No. 09-15898).  Paul J.
Winterhalter, Esq., assists the Company in its restructuring
efforts.  The Company estimated up to $50,000 in assets and
$1 million to $10 million in debts when it filed for bankruptcy.


SCHOLASTIC CORPORATION: Repurchase Won't Affect Moody's Ba2 Rating
------------------------------------------------------------------
Moody's Investors Service said Scholastic Corporation's Ba2
Corporate Family Rating and positive rating outlook are not
affected by its announced intention to repurchase up to
$150 million of common stock through a tender offer or its
reported earnings decline for the first quarter.

The last rating action was on February 26, 2010, when Moody's
changed Scholastic's rating outlook to positive from stable and
affirmed the Ba2 CFR as well as the company's other ratings.

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

Scholastic, headquartered in New York, N.Y., is a publisher and
distributor of children's books, classroom and professional
magazines, educational technology, and instructional materials,
with operations in the United States, Canada, the United Kingdom,
Australia, New Zealand and Southeast Asia.  Revenue for the LTM
ended August 31, 2010, was approximately $1.9 billion.


SCOTTSDALE DOWNTOWN: Case Summary & 5 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Scottsdale Downtown Investments, LLC
        6820 E. 5th Street
        Scottsdale, AZ 85251
        Tel: (602) 307-0837

Bankruptcy Case No.: 10-30709

Chapter 11 Petition Date: September 24, 2010

Court: U.S. Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Redfield T. Baum, Sr.

Debtor's Counsel: Mark J. Giunta, Esq.
                  LAW OFFICE OF MARK J. GIUNTA
                  1413 N. 3rd Street
                  Phoenix, AZ 85004-1612
                  Tel: (602) 307-0837
                  Fax: (602) 307-0838
                  E-mail: mark.giunta@azbar.org

Scheduled Assets: $1,196,747

Scheduled Debts: $1,348,157

A list of the Company's five largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/azb10-30709.pdf

The petition was signed by Thomas Anderson, managing member.


SEA ISLAND: Creditors Can Vote for Ch. 11 Reorganization Plan
-------------------------------------------------------------
Russ Bynum at The Associated Press reports that a federal
bankruptcy judge approved the disclosure statement explaining the
Chapter 11 plan of Sea Island Company.  Creditors must vote
whether to approve or reject the Company's plan by Oct. 29, 2010.

The Debtor will present the Plan for confirmation on Nov. 4, 2010.

Under the Plan, the Company is selling its holdings for about
$197.5 million.  Lenders including Synovus Bank, Bank of America
and Bank of Scotland would recoup about $180 million, less than a
third of outstanding loans.  Unsecured creditors would be paid
shares from a pool totaling just $3 million.  They include former
Sea Island president Dennie McCrary, who is owed about
$27 million.  The Company estimates that unsecured creditors, at
best, would receive about 3 cents per dollar owed to them.

The AP relates the Company has already agreed to sell its four
resorts, three golf courses, two private clubs and other
properties for $197.5 million to a joint venture managed by
Oaktree Capital Management LP of Los Angeles and Avenue Capital
Group of New York.

                         About Sea Island

St. Simons Island, Georgia-based Sea Island Company --
http://www.seaisland.com/-- aka Sea Island Shooting School, Sea
Island Yacht Club, Sea Island Stables, and Cabin Bluff, is a
private resort and real estate development company founded in
1926.  Sea Island Company owns and operates Sea Island Resorts,
featuring two of the world's most exceptional destinations: the
Forbes Five-Star Cloister at Sea Island and The Lodge at Sea
Island.  Sea Island is filing a Chapter 11 plan based upon an
agreement to sell substantially all of its assets to Sea Island
Acquisition LP, a limited partnership formed by investment funds
managed by the global investment firms Oaktree Capital Management,
L.P., and Avenue Capital Group.

Sea Island filed for Chapter 11 protection on August 10, 2010
(Bankr. S.D. Ga. Case No. 10-21034).  Sarah R. Borders, Esq.;
Harris Winsberg, Esq.; Sarah L. Taub, Esq.; and Jeffrey R. Dutson,
Esq., at King & Spalding LLP, assists the Debtor in its
restructuring effort.  Robert M. Cunningham, Esq., at Gilbert,
Harrell, Sumerford & Martin PC, is the Debtor's co-counsel.  FTI
Consulting, Inc., is the Debtor's restructuring advisor.  Donald
F. Walton, the U.S. Trustee for Region 21, appointed seven members
to the official committee of unsecured creditors in the Chapter 11
cases of Sea Island Company, et al.  EPIQ Bankruptcy Solutions,
LLC, is the Debtor's claims and notice agent.  The official
committee of unsecured creditors has retained Jordi Guso, Esq. and
Berger Singerman, P.A. as its counsel.  The Debtor estimated its
assets and debts at $500 million to $1 billion as of the Petition
Date.

Affiliates Sea Island Coastal Properties, LLC; Sea Island
Services, Inc.; Sea Island Resort Residences, LLC; Sea Island
Apparel, LLC; First Sea Island, LLC; and Sical, LLC, filed
separate Chapter 11 petitions on August 10, 2010.


SECURITY STATE: Weiss Gives Iowa Bank Very Weak E Rating
--------------------------------------------------------
Weiss Ratings has assigned its "very weak" E rating to Security
State Bank based in Hubbard, Iowa  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
June 30, 2010, the institution's balance sheet showed
$57.8 million in assets.


SECURITY STATE: Weiss Gives Iowa Bank Very Weak E+ Rating
---------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Security
State Bank based in Radcliffe, Iowa  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
June 30, 2010, the institution's balance sheet showed
$44.7 million in assets.


SEMGROUP LP: Court Declines to Subordinate Harvest's Claims
-----------------------------------------------------------
WestLaw reports that SemGroup, L.P., and SemGroup Holdings, L.P.,
failed to carry their burden of proving that a non-debtor limited
partnership in which a creditor had purchased an equity interest
that allegedly resulted in the damages forming the basis of its
proof of claim qualified as an "affiliate" of the debtor, as
required for the creditor's claim to be subject to mandatory
subordination as one for damages arising from the purchase or sale
of a security of the debtor or an affiliate of the debtor.  While
the limited partnership, whose general partner was wholly owned by
one of the debtors, was in the same family of businesses as the
debtor and might colloquially qualify as an "affiliate," there was
no evidence that its business was operated by the debtor pursuant
to a lease or operating agreement, or that it otherwise satisfied
the Code definition of an "affiliate."  In re SemCrude, L.P., ---
B.R. ----, 2010 WL 2822467 (Bankr. D. Del.) (Shannon, J.).

The Debtors objected to four proofs of claim filed by Harvest Fund
Advisors, arguing that Harvest's claims should be subordinated
pursuant to 11 U.S.C. Sec. 510(b) because section 510(b), by its
plain terms, did not apply to the Claims.  The Honorable Brendan
Linehan Shannon disagreed.

                        About SemGroup, L.P.

SemGroup, L.P. -- http://www.semgrouplp.com/-- is a midstream
service company that provides diversified services for end users
and consumers of crude oil, natural gas, natural gas liquids and
refined products.  Services include purchasing, selling,
processing, transporting, terminalling and storing energy.
SemGroup serves customers in the United States, Canada, Mexico and
Wales.

SemGroup L.P. and its debtor-affiliates filed for Chapter 11
protection (Bankr. D. Del. Case No. 08-11525) on July 22, 2008.
John H. Knight, Esq., L. Katherine Good, Esq. and Mark
D. Collins, Esq., at Richards Layton & Finger; Harvey R. Miller,
Esq., Michael P. Kessler, Esq., and Sherri L. Toub, Esq., at Weil,
Gotshal & Manges LLP; and Martin A. Sosland, Esq., and Sylvia A.
Mayer, Esq., at Weil Gotshal & Manges LLP, represent the Debtors
in their restructuring efforts.  Kurtzman Carson Consultants
L.L.C. is the Debtors' claims agent.  The Debtors' financial
advisors are The Blackstone Group L.P. and A.P. Services LLC.

Margot B. Schonholtz, Esq., and Scott D. Talmadge, Esq., at Kaye
Scholer LLP; and Laurie Selber Silverstein, Esq., at Potter
Anderson & Corroon LLP, represent the Debtors' prepetition
lenders.

SemGroup L.P.'s affiliates, SemCAMS ULC and SemCanada Crude
Company, sought protection under the Companies' Creditors
Arrangement Act (Canada) on July 22, 2008.  Ernst & Young, Inc.,
is the appointed monitor of SemCanada Crude Company and its
affiliates' reorganization proceedings before the Canadian
Companies' Creditors Arrangement Act.

SemGroup L.P.'s consolidated, unaudited financial conditions as of
June 30, 2007, showed $5,429,038,000 in total assets and
$5,033,214,000 in total debts.

SemGroup, LP, won confirmation from the Bankruptcy Court of its
Fourth Amended Plan of Reorganization on October 28, 2008.  The
Plan, distributing more than $2.5 billion in value to
stakeholders, was declared effective on November 30, 2008.


SEMGROUP LP: Former Execs to Pay $30 Million to Settle Suit
-----------------------------------------------------------
Bankruptcy Law360 that five former SemGroup, L.P., executives have
agreed to fork over $30 million to settle breach of contract and
other charges related to the unauthorized sale of crude oil
options that led to the now-solvent petroleum distributor's
bankruptcy.

Bettina Whyte, the trustee for the SemGroup litigation trust,
asked for approval of the settlement in a motion filed Wednesday
in the U.S. Bankruptcy Court for the District of Delaware,
according to Law360.

                        About SemGroup, L.P.

SemGroup, L.P. -- http://www.semgrouplp.com/-- is a midstream
service company that provides diversified services for end users
and consumers of crude oil, natural gas, natural gas liquids and
refined products.  Services include purchasing, selling,
processing, transporting, terminalling and storing energy.
SemGroup serves customers in the United States, Canada, Mexico and
Wales.

SemGroup L.P. and its debtor-affiliates filed for Chapter 11
protection on July 22, 2008 (Bankr. D. Del. Lead Case No.
08-11525).  John H. Knight, Esq., L. Katherine Good, Esq. and Mark
D. Collins, Esq., at Richards Layton & Finger; Harvey R. Miller,
Esq., Michael P. Kessler, Esq., and Sherri L. Toub, Esq., at Weil,
Gotshal & Manges LLP; and Martin A. Sosland, Esq., and Sylvia A.
Mayer, Esq., at Weil Gotshal & Manges LLP, represent the Debtors
in their restructuring efforts.  Kurtzman Carson Consultants
L.L.C. is the Debtors' claims agent.  The Debtors' financial
advisors are The Blackstone Group L.P. and A.P. Services LLC.

Margot B. Schonholtz, Esq., and Scott D. Talmadge, Esq., at Kaye
Scholer LLP; and Laurie Selber Silverstein, Esq., at Potter
Anderson & Corroon LLP, represent the Debtors' prepetition
lenders.

SemGroup L.P.'s affiliates, SemCAMS ULC and SemCanada Crude
Company, sought protection under the Companies' Creditors
Arrangement Act (Canada) on July 22, 2008.  Ernst & Young, Inc.,
is the appointed monitor of SemCanada Crude Company and its
affiliates' reorganization proceedings before the Canadian
Companies' Creditors Arrangement Act.  The CCAA stay expires on
November 21, 2008.

SemGroup L.P.'s consolidated, unaudited financial conditions as of
June 30, 2007, showed $5,429,038,000 in total assets and
$5,033,214,000 in total debts.

SemGroup, LP, won confirmation from the Bankruptcy Court of its
Fourth Amended Plan of Reorganization on October 28, 2008.  The
Plan, which distributes more than $2.5 billion in value to its
stakeholders, was declared effective November 30.


SHORE BANK: Weiss Gives Va. Bank Very Weak E+ Rating
----------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Shore Bank
based in Onley, Va.  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 June 30, 2010,
the institution's balance sheet showed $335.9 million in assets.


SIX FLAGS: Receives $41-Mil. Payout From Dick Clark Stake
---------------------------------------------------------
Kevin Kingsbury, writing for Dow Jones Newswires, reports that Six
Flags Entertainment Corp. said it has received $41 million as part
of its stake in dick clark productions, producer of television
shows such as the Golden Globe awards.

The company was sold in 2002 by an investor group, while Six Flags
bought a 40% stake in 2007 as a private-equity firm co-founded by
then-Six Flags Chairman Daniel Snyder acquired the rest.  The
total purchase price was $175 million.

Dow Jones notes the reason for the $41 million payout wasn't
disclosed in a short statement, but Six Flags said it will retain
its equity stake in dick clark productions.  A company spokesman
wasn't immediately available for comment.

                          About Six Flags

Headquartered in New York City, Six Flags, Inc., is the world's
largest regional theme park company with 20 parks across the
United States, Mexico and Canada.

Six Flags filed for Chapter 11 protection on June 13, 2009 (Bankr.
D. Del. Lead Case No. 09-12019).  Paul E. Harner, Esq., Steven T.
Catlett, Esq., and Christian M. Auty, Esq., at Paul, Hastings,
Janofsky & Walker LLP in Chicago, Illinois, served as the Debtors'
lead counsel.  Daniel J. DeFranceschi, Esq., and L. Katherine
Good, Esq., at Richards, Layton & Finger, P.A., in Wilmington,
Delaware, served as local counsel.  Cadwalader Wickersham & Taft
LLP, served as special counsel.  Houlihan Lokey Howard & Zukin
Capital Inc., served as financial advisors, while KPMG LLC served
as accountants.  Kurtzman Carson Consultants LLC served as claims
and notice agent.  As of March 31, 2009, Six Flags had
$2,907,335,000 in total assets and $3,431,647,000 in total
liabilities.

Judge Christopher S. Sontchi on April 29, 2010, confirmed the
Modified Fourth Amended Plan of Reorganization of Six Flags Inc.
and its debtor affiliates.  On April 30, the Debtors consummated
their restructuring through a series of transactions contemplated
by the Plan and the Plan became effective pursuant to its terms.
On the Effective Date, Six Flags, Inc. changed its corporate name
to "Six Flags Entertainment Corporation."


SOUTH COUNTY: Weiss Gives Calif. Bank Very Weak E Rating
--------------------------------------------------------
Weiss Ratings has assigned its "very weak" E rating to South
County Bank, N.A. based in Irvine, Calif.  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
June 30, 2010, the institution's balance sheet showed
$200.6 million in assets.


SOUTHWEST CORPORATE: Undercapitalized; Placed in Conservatorship
----------------------------------------------------------------
The National Credit Union Administration on Friday assumed control
of three undercapitalized corporate credit unions, announced a
plan to isolate the impaired assets in the corporate credit union
system, and finalized a set of stronger regulations -- key
elements in its efforts to resolve the financial challenges facing
corporate credit unions without disrupting consumer service.

"The steps NCUA has taken [Fri]day represent a comprehensive
solution to the problems afflicting the corporate credit union
system," said NCUA Chairman Debbie Matz. "Just as important, this
plan puts consumers first and ensures that there will be no loss
to taxpayers. This plan also provides an orderly transition to a
new regulatory regime for corporates. In addition, we are
affording local credit unions greater choice in selection of their
liquidity and back office provider."

The Temporary Corporate Credit Union Share Guarantee Program
remains fully in effect for the entire corporate system through
December 31, 2012.

In addition, NCUA continues to insure credit union and consumer
deposits up to $250,000 per account. Setting the plan into motion
required conservatorship of three additional corporate credit
unions that are not viable:

     -- Members United Corporate Federal Credit Union of
        Warrenville, Illinois;

     -- Southwest Corporate Federal Credit Union of Plano, Texas;
        and

     -- Constitution Corporate Federal Credit Union of
        Wallingford, Connecticut.

In March 2009, U.S. Central Corporate Federal Credit Union of
Lenexa, Kansas, and Western Corporate Federal Credit Union of San
Dimas, California, were also placed into conservatorship.

In a conservatorship, NCUA replaces an institution's management
and board, operating it in a way that protects taxpayers' and
members' interests during its orderly transition and resolution.
The plan to address the impaired assets and resolve these troubled
institutions involves several interrelated steps:

     -- Isolating the impaired securities (legacy assets) held by
        these five corporate credit unions;

     -- Repackaging the legacy assets into new securities with an
        NCUA guarantee backed by the unconditional full faith and
        credit of the United States government;

     -- Issuing the new securities to investors on the open
        market;

     -- Transferring the corporates' still-valuable assets to
        newly created "bridge banks" that will allow for
        continued operations; and

     -- Transitioning operations now under NCUA conservatorship
        over a target of 24 months to other service providers.

NCUA has consulted with the Treasury, Federal Reserve and other
federal financial regulators in developing these plans, and will
continue to work closely with these agencies to ensure the orderly
resolution of conserved corporates, the effective implementation
of the steps outlined, and the continued smooth operation of the
credit union system.

In particular, the life of the Temporary Corporate Credit Union
Stabilization Fund has been extended to June 30, 2021, with the
concurrence of Treasury Secretary Timothy F. Geithner.  This will
provide the NCUA Board with important flexibility in mitigating
the impact of the annual assessments to credit unions for the
costs over this period.  It should be noted that the costs will be
borne exclusively by the credit union industry, and will not
result in any loss to taxpayers.

NCUA adopted a new set of regulatory reforms aimed at
strengthening the corporate credit union system. The new corporate
regulation (NCUA Rules and Regulations, Part 704):

     -- Implements stronger capital requirements and establishes
        prompt corrective action measures for corporate credit
        unions;

     -- Establishes clear concentration limits on investments that
        will require corporate credit unions to better diversify
        their portfolios;

     -- Improves asset-liability management requirements to avoid
        liquidity and interest rate risks; and

     -- Raises governance standards to improve levels of
        experience and expertise on corporate boards.

"NCUA's action to deal with the troubled institutions and the
impaired securities on the corporates' books -- together with
reforms to the NCUA regulation that governs the corporate system
-- will create stronger safeguards for the nation's entire credit
union system," said Chairman Matz. "The credit union community has
long hoped to see a coordinated, market-based, least-cost solution
to the corporate crisis, and we have delivered that [Fri]day."

NCUA Board Member Gigi Hyland noted, "The regulatory reforms and
plan to resolve the troubled institutions and their impaired
assets are key steps to allow the credit union system to move
forward. The corporate rule is stronger thanks to the 815
commenters who provided NCUA feedback.  And, these actions reflect
the key principle that has guided NCUA's efforts -- finding a
solution that minimizes, as much as possible, the cost to the
credit union system while spreading that cost out over time."

NCUA Board Member Michael Fryzel commented that "NCUA, along with
the entire credit union industry, has struggled with the corporate
problem for over two years.  [Fri]day's Board actions culminate
months of analysis, review and planning and establish a regulatory
framework and viable options that will prevent a reoccurrence of
this crisis and give credit unions a choice for the future."

Chairman Matz also emphasized that the future of the remainder of
the corporate credit union system will be determined by the
private sector's judgment, not by any government dictate.

"The leaders of the nation's consumer credit unions must make the
strategic business decisions about whether to recapitalize some of
the remaining, viable corporates, switch to a different corporate,
or seek services at some other type of institution," said Chairman
Matz.  "NCUA is confident that the new framework will enable the
choices ahead to be made in the context of strong and safe credit
union operations. The credit union industry, and the 90 million
consumers it serves, deserve nothing less."

                           *     *     *

The Wall Street Journal's Mark Maremont and Victoria McGrane
report that the three credit unions seized last week had a total
of $19.67 billion in assets as of July 2010:

                                                  Assets
                                                  ------
     Members United Corporate Federal
     Credit Union                              $8.93 billion

     Southwest Corporate Federal
     Credit Union                              $9.52 billion

     Constitution Corporate Federal            $1.22 billion
     Credit Union

The two credit unions seized in March 2009 had these assets:

                                                  Assets
                                                  ------
     U.S. Central Corporate Federal
     Credit Union                               $34 billion

     Western Corporate Federal
     Credit Union                               $23 billion

NCUA is the independent federal agency that regulates, charters
and supervises federal credit unions.  With the backing of the
full faith and credit of the U.S. government, NCUA operates and
manages the National Credit Union Share Insurance Fund, insuring
the deposits of over 90 million account holders in all federal
credit unions and the overwhelming majority of state-chartered
credit unions.


SPIVEY STATE: Weiss Gives Ga. Bank Very Weak E+ Rating
------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Spivey
State Bank based in Swainsboro, Ga.  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
June 30, 2010, the institution's balance sheet showed
$89.9 million in assets.


SPRINGBOK SERVICES: Fifth Third Processing Purchases Firm's Assets
------------------------------------------------------------------
Dow Jones' DBR Small Cap reports that the payment processing joint
venture of Advent International Corp. and Fifth Third Bank
continues to be acquisitive, buying certain assets of Springbok
Services Inc.

Englewood, Colorado-based Springbok Services, Inc., fka The Best
Present Company, Inc.; and fdba Springbok Card Processing
Services, fka Springbok Card Processing Services, Inc., filed for
Chapter 11 bankruptcy protection on June 18, 2010 (Bankr. D. Colo.
Case No. 10-25285).  Duncan E. Barber, Esq., who has an office in
Denver, Colorado, assists the Company in its restructuring effort.
The Company estimated its assets and debts at $10,000,001 to
$50,000,000.


STATE BANK: Weiss Gives Neb. Bank Very Weak E- Rating
-----------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to State Bank
of Odell based in Odell, Neb.  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
June 30, 2010, the institution's balance sheet showed
$24.4 million in assets.


SUMMIT BANK: Weiss Gives Wash. Bank Very Weak E+ Rating
-------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Summit
Bank based in Burlington, Wash.  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
June 30, 2010, the institution's balance sheet showed
$156.8 million in assets.


SUNRISE BANK: Weiss Gives Calif. Bank Very Weak E+ Rating
---------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Sunrise
Bank based in San Diego, Calif.  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
June 30, 2010, the institution's balance sheet showed
$257.1 million in assets.


SUSANNE OLSEN: Chapter 15 Case Summary
--------------------------------------
Chapter 15 Petitioner: Michala Roepstorff
                       c/o Schian Walker, PLC
                       3550 N. Central Ave., Suite 1700
                       Phoenix, AZ 85012
                       Tel: (602) 277-1501

Chapter 15 Debtor: Susanne Olsen
                   3209 Dolphin Dr.
                   Lake Havasu City, AZ 86403

Case No.: 10-30246

Petition Date: September 22, 2010

Court: District of Arizona (Yuma)

Judge: Randolph J. Haines

Petitioner's Counsel: Cody J. Jess, Esq.
                      SCHIAN WALKER, PLC
                      3550 N. Central Ave., #1700
                      Phoenix, AZ 85012-2115
                      Tel: (602) 277-1501
                      Fax: (602) 297-9633
                      E-mail: ecfdocket@swazlaw.com

Estimated Assets: $0 to $50,000

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

Debtor-affiliates that filed separate petitions:

                                                    Petition
   Debtor                           Case No.           Date
   ------                           --------           ----
Susanne Olsen                     SKS 50-201/2010  04/20/2010
Thor Olsen                        SKS 50-200/2010  04/20/2010
TSO Holding ApS                   SKS 50-199/2010  04/20/2010
Thor Olsen                          10-30231       09/22/2010


TAYLOR BEAN: Submits Plan of Liquidation
----------------------------------------
Taylor, Bean & Whitaker Mortgage Corp., submitted to the U.S.
Bankruptcy Court for the Middle District of Florida a Plan of
Liquidation and an explanatory Disclosure Statement.

The Plan Proponents are the Debtors and the Official Committee of
Unsecured Creditors.

The Debtors will begin soliciting votes on the Plan following
approval of the adequacy of the information in the Disclosure
Statement.

According to the Disclosure Statement, the Plan contemplates the
formation of a single liquidating trust for the benefit of
creditors, which will succeed to all assets of the Debtors.  The
Plan trustee will, among other things, liquidate the non-cash
assets transferred to the plan trust, reconcile claims against the
Debtors, make distributions to holders of allowed claims, and wind
down the Chapter 11 cases and the Debtors' respective estates.

There are no guaranteed recovery and there are no guaranteed
amounts of recovery for any holder of claim.  There will be no
recovery for any holder of an interest.

In addition, the Plan provides for the establishment of a cash
reserve for disputed claims within any particular class.  The
process of distributing cash under the Plan will be completed over
time.

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

The Debtors are represented by:

     Russel M. Blain, Esq.
     Edward J. Peterson, III, Esq.
     STITCHTER, RIEDEL, BLAIN & PROSSER, P.A.
     110 East Madison Street, Suite 200
     Tampa, FL 33602
     Tel: (813) 229-0144
     Fax: (813) 229-1811
     E-mail: rblain@srbp.com
             epeterson@srbp.com

     Jeffrey W. Kelly, Esq.
     J. David Dantzler, Jr., Esq.
     TROUTMAN SANDERS LLP
     600 Peachtree Street, Suite 5200
     Atlanta, GA 30308
     Tel: (404) 885-3358
     Fax: (404) 885-3995
     E-mail: jeff.kelly@troutmansanders.com
             david.dantzler@troutmansanders.com

                         About Taylor Bean

Taylor, Bean & Whitaker Mortgage Corp. grew from a small Ocala-
based mortgage broker to become one of the largest mortgage
bankers in the United States.  In 2009, Taylor Bean was the
country's third largest direct-endorsement lender of FHA-insured
loans of the largest wholesale mortgage lenders and issuer of
mortgage backed securities.  It also managed a combined mortgage
servicing portfolio of approximately $80 billion.  The company
employed more that 2,000 people in offices located throughout the
United States.

Taylor Bean filed for Chapter 11 bankruptcy protection August 24
(Bankr. M.D. Fla. Case No. 09-07047).  Taylor Bean filed the
Chapter 11 petition three weeks after federal investigators
searched its offices.  The day following the search, the Federal
Housing Administration, Ginnie Mae and Freddie Mac prohibited the
company from issuing new mortgages and terminated servicing
rights.  Taylor Bean estimated more than $1 billion in both assets
and liabilities in its bankruptcy petition.

Edward J. Peterson, III, Esq., at Stichter, Riedel, Blain &
Prosser, PA, in Tampa, Florida, represents the Debtor.  Troutman
Sanders LLP is special counsel.  BMC Group, Inc., serves as claims
agent.


THOR OLSEN: Chapter 15 Case Summary
-----------------------------------
Chapter 15 Petitioner: Michala Roepstorff
                       c/o Schian Walker, PLC
                       3550 N. Central Ave., Suite 1700
                       Phoenix, AZ 85012
                       Tel: (602) 277-1501

Chapter 15 Debtor: Thor Olsen
                   3209 Dolphin Dr.
                   Lake Havasu City, AZ 86403

Chapter 15 Case No.: 10-30231

Chapter 15 Petition Date: September 22, 2010

Court: District of Arizona (Yuma)

Judge: Randolph J. Haines

Petitioner's Counsel: Cody J. Jess, Esq.
                      SCHIAN WALKER, PLC
                      3550 N. Central Ave., #1700
                      Phoenix, AZ 85012-2115
                      Tel: (602) 277-1501
                      Fax: (602) 297-9633
                      E-mail: ecfdocket@swazlaw.com

Estimated Assets: $0 to $50,000

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

Debtor-affiliates that filed separate petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Thor Olsen                        SKS 50-200/2010  04/20/2010
Susanne Olsen                     SKS 50-201/2010  04/20/2010
TSO Holding ApS                   SKS 50-199/2010  04/20/2010


TIDELANDS BANK: Weiss Gives S.C. Bank Very Weak E- Rating
---------------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to Tidelands
Bank based in Mount Pleasant, S.C.  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
June 30, 2010, the institution's balance sheet showed
$582.4 million in assets.


TOD GRISWOLD: Case Summary & 10 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Tod William Griswold
        3340 Durand Drive
        Los Angeles, CA 90068

Bankruptcy Case No.: 10-50520

Chapter 11 Petition Date: September 22, 2010

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

Judge: Barry Russell

Debtor's Counsel: Leonard Pe¤a, Esq.
                  PEĽA & SOMA, APC
                  555 W Fifth St 31st Fl
                  Los Angeles, CA 90013
                  Tel: (213) 996-8336
                  E-mail: lpena@penalaw.com

Estimated Assets: $0 to $50,000

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

A list of the Debtor's 10 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-50520.pdf


TPC GROUP: Moody's Affirms 'B1' Corporate Family Rating
-------------------------------------------------------
Moody's Investors Service affirmed TPC Group LLC's B1 Corporate
Family Rating, and assigned a B1 rating to the proposed senior
secured notes due 2017.  The $325 million of proceeds from the
notes, combined with $60 million of existing liquidity sources,
will refinance the company's $269 million term loan and fund a
distribution to parent company TPC Group Inc. for general
corporate purposes, which may include dividends, stock repurchases
or other returns of capital to its shareholders.  The outlook
remains stable.

                        Ratings Rationale

TPC's transaction will secure attractive financing for the company
and allow it to reward its shareholders at a time when the company
is benefiting from the returns from recent capital investments,
generating positive free cash flow and not engaged in significant
expansionary capital projects.  The financing will extend TPC's
debt maturity from 2013 to 2017, eliminate the need for debt
amortization payments, and possibly improve flexibility under
certain covenants and terms.  The transactions, including the
anticipated $105.5 million distribution, will consume
approximately $35 million of cash and increase balance sheet debt
by $80 million, adding approximately 0.8 turns of leverage (as of
June 30, 2010, pro forma for the transactions and including
Moody's adjustments).  Pro forma for the transactions, TPC would
have a debt / EBITDA ratio of 4.4x as of June 30, 2010.

The affirmation of TPC's CFR reflects the modest leverage TPC
currently has for its rating category and Moody's expectation that
TPC will reduce leverage by growing its EBITDA and repaying the
draw down under the revolver.  TPC's B1 CFR reflects its narrow
commodity based product line, large market shares within its niche
product lines where it is either the largest or second largest
supplier, concentrated operational and geographical profile and
modest EBITDA margins.  Over 70% of its sales volumes are
contractually insulated from fluctuations in feedstock, sales
price and energy price fluctuations to protect margins.  The
company's profits have rebounded from the trough profitability
levels of FY2009, but remain below FY2008 levels, when it
benefited from higher crude oil prices.

TPC recently announced that its CEO plans to retire and the Board
of Directors is actively engaged in the succession planning
process.  The company stated that the current CEO is expected to
continue in his roles until the earlier of December 31, 2011 or
the naming of his successor.  This raises concerns about further
event risk.  Moody's also note that should a change in control
occur, a provision in the proposed notes gives investors the
opportunity to sell their notes to the company at a price of 101.

The ratings are summarized below.

TPC Group LLC

Rating assigned:

* $325mm sr sec notes due 2017 -- B1 (LGD4, 57%)

Ratings affirmed:

* Corporate Family Rating -- B1
* Probability of Default Rating -- B1

Ratings to be withdrawn:

* Gtd Sr Sec Term Loan due 2013 - B1 (LGD4, 54%) from B1 (LGD4,
  53%)

Outlook: Stable

The rating on the existing term loan will be withdrawn after it is
repaid with the proceeds from the notes offering.

The stable outlook reflects Moody's expectations for improvement
in revenues and profitability for FY2011, and positive free cash
flow.  The rating could be upgraded, should the company generate
free cash flow to debt of 7%, its debt to EBITDA fell below 4x on
a sustained basis and industry conditions be supportive of an
upgrade.

Moody's most recent announcement concerning the ratings for TPC
was on May 13, 2010.  At that time, Moody's withdrew the B1 rating
assigned to TPC's proposed amended and extended term loan due
2016.  That action followed TPC's cancellation of the transaction
to amend and extend its existing term loan due 2013.

TPC Group LLC is a processor of crude C4 hydrocarbons (primarily
butadiene, butene-1, isobutylene), differentiated isobutylene
derivatives and nonene and tetramer.  For its product lines, TPC
is either the largest or second largest independent North American
producer.  The company operates three Texas-based manufacturing
facilities in Houston, Baytown and Port Neches.  Revenues were
$1.7 billion for the twelve months ended June 30, 2010.


TPC GROUP: S&P Assigns Corporate Credit Rating at 'B+'
------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned a 'B+'
corporate credit rating to Houston-based TPC Group LLC (formerly
Texas Petrochemicals L.P.).  The outlook is stable.

At the same time, S&P assigned a 'B+' issue-level rating (same as
the corporate credit rating) to TPC's proposed $325 million senior
secured notes due 2017.  The recovery rating is '4', indicating
S&P's expectation of average (30%-50%) recovery in the event of a
payment default.  The rating is based on preliminary terms and
conditions.

"The rating on publicly listed TPC reflects its narrow product
range of commodity compounds, concentration of revenue and
earnings from a few customers and products, cyclicality in its key
markets, modest operating margins, and susceptibility to operating
disruptions exacerbated by limited geographic diversity," said
Standard & Poor's credit analyst Ket Gondha.  "These risk factors
are partially offset by credit metrics that support the rating --
albeit without the benefit of clearly defined financial policies -
- the company's favorable competitive position with leading market
shares in key products including butadiene, and contracts with
suppliers and customers that offer it some margin protection."


TRANS PACIFIC: Weiss Gives Calif. Bank Very Weak E+ Rating
----------------------------------------------------------
Weiss Ratings has assigned its "very weak" E+ rating to Trans
Pacific National Bank based in San Francisco, Calif.  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 June 30, 2010, the institution's balance sheet showed
$160.5 million in assets.


TREATY OAK: Weiss Gives Tex. Bank Very Weak E- Rating
-----------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to Treaty Oak
Bank based in Austin, Tex.  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
June 30, 2010, the institution's balance sheet showed
$118.6 million in assets.


TRICO MARINE: Committee Taps Kasowitz Benson as Counsel
-------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of Trico Marine Services, Inc., et al., asks the U.S.
Bankruptcy Court for the District of Delaware for permission to
employ Kasowitz, Benson, Torres & Friedman LLP as its counsel.

KBTF will, among other things:

   -- provide the Committee with legal advice with respect to its
      rights, duties and powers as an official committee appointed
      under Section 1102 of the Bankruptcy Code;

   -- assist the Committee in investigating the acts, conduct,
      assets, liabilities and financial condition of the Debtors,
      the operation of the Debtors' businesses and the
      desirability of the continuance of the businesses and any
      other matter relevant to the Chapter 11 cases; and

   -- take all necessary actions to protect and to preserve the
      interests of unsecured creditors during the administration
      of the Chapter 11 cases, including, as applicable,
      prosecuting and defending actions on behalf of the estates.

The hourly rates of KBTF's personnel are:

     Partners                   $600 - $1,000
     Special Counsel            $525 -   $750
     Associates                 $250 -   $675
     Staff Attorneys            $235 -   $390
     Paralegals                 $135 -   $225

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

The Committee proposes an October 6 hearing on the employment of
KBTF as counsel.

                        About Trico Marine

Texas-based Trico Marine Services, Inc. --
http://www.tricomarine.com-- provides subsea services, subsea
trenching and protection services, and towing and supply vessels.
Trico filed for Chapter 11 protection on August 25, 2010 (Bankr.
D. Del. Case No. 10-12653).  John E. Mitchell, Esq., Angela B.
Degeyter, Esq., and Harry A. Perrin, Esq., at Vinson & Elkins LLP,
assist the Debtor in its restructuring effort.  The Debtor
disclosed $30,562,681 in assets and $353,606,467 in liabilities as
of the Petition Date.

Affiliates Trico Marine Assets, Inc. (Bankr. D. Del. Case No. 10-
12648), Trico Marine Operators, Inc. (Case No. 10-12649), Trico
Marine International, Inc. (Case No. 10-12650), Trico Marine
Cayman, L.P. (Case No. 10-12651), and Trico Holdco, LLC (Case No.
10-12652) filed separate Chapter 11 petitions.

Cahill Gordon & Reindell LLP is the Debtors' special counsel.
Alix Partners Services, LLC, is the Debtors' chief restructuring
officer.  Epiq Bankruptcy Solutions is the Debtors' claims and
notice agent.


TRIZETTO GROUP: Moody's Affirms Corporate Family Rating at 'B1'
---------------------------------------------------------------
Moody's Investors Service affirmed the B1 Corporate Family Rating
of The TriZetto Group, Inc., and maintained a stable ratings
outlook in connection with the Company's plans to repay its
$187.5 million of outstanding senior notes due in 2016.  The
Company is pursuing an amendment to its existing credit agreement
to facilitate the repayment of junior debt, and subsequently plans
to raise approximately $100 million of incremental Term Loan C
through exercise of the accordion feature in its existing credit
agreement.  The proceeds from the incremental term loans and
approximately $107 million of existing cash will be used to redeem
the senior notes and pay the call premium and fees and expenses
for the transaction.  As part of the ratings action, Moody's
lowered TriZetto's probability of default rating to B2 from B1,
and the ratings for its senior secured credit facilities to B1
from Ba3, reflecting the resulting change in capital structure
following the transaction.  Pro forma for the redemption of senior
notes, TriZetto's debt structure will essentially comprise of the
senior secured bank debt only, which previously received support
from the structurally subordinate senior notes.  The outlook for
ratings remains stable.

Moody's affirmed these rating(s):

* Corporate Family Rating -- B1

Moody's lowered these rating(s):

* Probability of Default Rating to B2 from B1

* $65 million senior secured revolving credit facility due 2014 to
  B1 (LGD3, 33%) from Ba3 (LGD3, 34%)

* $71 million senior secured Term Loan A facility due 2014 to B1
  (LGD3, 33%) from Ba3 (LGD3, 34%)

* $315 million senior secured Term Loan B facility due 2015 to B1
  (LGD3, 33%) from Ba3 (LGD3, 34%)

Moody's assigned these rating(s):

* Proposed $100 million senior secured Term Loan C facility due
  2015 -- B1 (LGD3, 33%)

                         Ratings Rationale

Moody's estimates the proposed transaction, coupled with the
anticipated repayment of approximately $38 million of subordinated
notes to its parent, will reduce TriZetto's LTM 2Q 2010 Debt-to-
EBITDA leverage by approximately one turn to 3.9x (incorporating
Moody's standard analytical adjustments including 25% of debt
attribution to the preferred stock at intermediate holding
company).

Moody's believes that TriZetto's Corporate Family Rating is
solidly positioned in the B1 rating category and reflects the
Company's good business execution, which the Company has
demonstrated with sustained revenue and EBITDA growth and EBITDA
margin expansion, including through a weak capital spending
environment during a severe recession and in the midst of
regulatory uncertainly in anticipation of the healthcare reform
legislation.  The B1 rating also reflects TriZetto's moderate
leverage, strong free cash flow generation relative to debt, and
its good market position as a provider of information technology
solutions to the healthcare industry.  The B1 CFR is additionally
supported by the favorable growth trends in the healthcare
information technology industry, the Company's stable customer
base, its unique investor and customer relationship with the
BlueCross BlueShield of Tennessee, and Regence, and a good backlog
of revenues under contract, which provides stability and
visibility of revenue and cash flows.  In Moody's view, TriZetto's
moderate financial risk affords the Company ample cushion to
pursue its expansion strategy, including small acquisitions, to
exploit the additional revenue opportunity in the healthcare
information technology industry, which the rating agency expects
to grow rapidly driven by the growth in the U.S. healthcare
industry and the need for improving productivity.

TriZetto's B1 CFR is constrained by the Company's moderate scale
and its highly competitive, albeit largely fragmented, operating
environment.  In addition, the rating reflects the risk that the
sponsor's interests may not be aligned with those of debt holders,
and in Moody's view, further de-leveraging potential could be
consumed by shareholder-oriented financial policies.

The stable outlook considers the potential for improved cash flow
generation driven by revenue growth in mid single-digit
percentages and additional EBITDA margin expansion reflecting
operating leverage in the business.

The ratings or the outlook could experience upward pressure if
TriZetto's revenues grow organically at mid single-digit rates,
and its scale and profitability increase, such that it drives more
robust earnings and cash flow from operations.  Upward rating
pressure could develop if the Company demonstrates it can
accommodate its growth strategy and fiscal objectives, including
potential debt-financed shareholder returns, and still sustain a
moderately levered balance sheet with Total Debt/EBITDA (Moody's
adjusted) of less than 4.0x.

While not anticipated in the near term, TriZetto's ratings could
be downgraded if the Company's financial policies become oriented
towards shareholders, or the Company undertakes a transforming
acquisition which increases execution risks, such that Debt-to-
EBITDA leverage increases above 5.0x.

The last rating action on TriZetto took place on July 24, 2008
when Moody's assigned a B1 corporate family rating and Ba3 ratings
to its senior secured credit facilities.

Headquartered in Greenwood Village, Colorado, TriZetto is a
provider of information technology solutions to the healthcare
industry.


TRUC NGUYEN: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Joint Debtors: Truc C. Nguyen
               Binh C. Phung
               155 Canterbury Avenue
               Daly City, CA 94015

Bankruptcy Case No.: 10-33720

Chapter 11 Petition Date: September 23, 2010

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

Judge: Dennis Montali

Debtors' Counsel: Drew Henwood, Esq.
                  LAW OFFICES OF DREW HENWOOD
                  41 Sutter Street, #621
                  San Francisco, CA 94104
                  Tel: (415) 362-7412
                  E-mail: dfhenwood@aol.com

Scheduled Assets: $985,792

Scheduled Debts: $1,888,149

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/canb10-33720.pdf


TRUMP ENTERTAINMENT: Hearing on Settlement Deal Set for October 5
-----------------------------------------------------------------
The Hon. Judith H. Wizmur of the U.S. Bankruptcy Court for the
District of New Jersey will convene a hearing on October 5, 2010,
at 10:00 a.m. (prevailing eastern time), to consider approval of
Trump Entertainment Resorts, Inc., et al.'s global settlement
agreement dated as of September 21.  Objections, if any, are due
September 30, at 4:00 p.m.

The agreement was entered among (i) the Reorganized Debtors; (ii)
Beal Bank, SSB, in its capacity as administrative and collateral
agent under the Prepetition First Lien Credit Agreement and the
Amended and Restated Credit Agreement and as a prior lender under
the Prepetition First Lien Credit Agreement; and (iii) Icahn
Partners LP, Icahn Partners Master Fund LP, Icahn Partners Master
Fund II LP, and Icahn Partners Master Fund III LP.

The highlights of the Settlement Agreement are:

   a. Dismissal of All Pending Litigation: The agreement will
      resolve all pending litigation among the parties, including
      without limitation, the confirmation appeal, the
      recharacterization motion, the crda lawsuit, the pending fee
      objections, the prepayment disallowance motion, well as the
      intercreditor lawsuit.

   b. Mutual Releases:

   c. New Term Loan Amendment: The principal balance of the
      interest-bearing portion of the New Term Loan as of the Plan
      Effective Date will be increased by $12.5 million to
      $346.5 million, and the non-interest bearing portion of the
      New Term Loan will be eliminated as of the plan Effective
      Date.  The remaining terms of New Term Loan will remain
      unaltered.

   d. Allowance of First Lien Lender Claims: The First Lien Lender
      Claims, including all payments made to the First Lien
      Lenders during the Chapter 11 Cases, will be allowed and no
      longer subject to recharacterization.

   e. Lender Consent to CRDA Transaction: The First Lien Lenders
      and First Lien Agent consent to the CRDA credit donation
      transaction pursuant to which the Debtors release a CRDA
      investment of approximately $27 million and receive
      approximately $9.6 million in cash, which may be used by the
      Reorganized Debtors as general working capital.

   f. Fees and Expenses: All accrued and unpaid fees and expenses,
      as of the Settlement Effective Date, of the First Lien
      Lenders and First Lien Agent in connection with the
      Chapter 11 Cases, the Litigation Matters, or the settlement
      have been fixed at $15 million. Upon the Settlement
      Effective Date, the Reorganized Debtors will make a
      $15 million cash payment to the First Lien Lenders on
      account of such fees and expenses.  In addition, the First
      Lien Lenders and First Lien Agent have agreed to support the
      final fee applications filed by the Debtors' professionals
      well as the Section 503(b) Application filed by the Ad Hoc
      Committee.

                     About Trump Entertainment

Based in Atlantic City, New Jersey, Trump Entertainment Resorts
Inc. (NASDAQ: TRMP) -- http://www.trumpcasinos.com/-- owns and
operates three casino hotel properties in Atlantic City, New
Jersey, which include Trump Taj Mahal Casino Resort, Trump Plaza
Hotel and Casino, and Trump Marina Hotel Casino.  The Company
conducts gaming activities and provides customers with casino
resort and entertainment.

Donald Trump is a shareholder of the Company and, as its non-
executive Chairman, is not involved in the daily operations of the
Company.  The Company is separate and distinct from Mr. Trump's
privately held real estate and other holdings.

Trump Entertainment Resorts, TCI 2 Holdings, LLC, and other
affiliates filed for Chapter 11 protection on February 17, 2009
(Bankr. D. N.J., Lead Case No. 09-13654).  The Company has tapped
Charles A. Stanziale, Jr., Esq., at McCarter & English, LLP, as
lead counsel, and Weil Gotshal & Manges as co-counsel.  Ernst &
Young LLP is the Company's auditor and accountant and Lazard
Freres & Co. LLC is the financial advisor.  Garden City Group is
the claims agent.  The Company disclosed assets of $2,055,555,000
and debts of $1,737,726,000 as of December 31, 2008.

Trump Hotels & Casino Resorts, Inc., filed for Chapter 11
protection on Nov. 21, 2004 (Bankr. D. N.J. Case No. 04-46898
through 04-46925).  Trump Hotels' obtained the Court's
confirmation of its Chapter 11 plan on April 5, 2005, and in
May 2005, it exited from bankruptcy under the name Trump
Entertainment Resorts Inc.


TSO HOLDING: Chapter 15 Case Summary
------------------------------------
Chapter 15 Petitioner: Michala Roepstorff
                       c/o Schian Walker, PLC
                       3550 N. Central Ave., Suite 1700
                       Phoenix, AZ 85012
                       Tel: (602) 277-1501

Chapter 15 Debtor: TSO Holding ApS
                   c/o Thor & Susanne Olsen
                   3209 Dolphin Dr.
                   Lake Havasu City, AZ 86403

Chapter 15 Case No.: 10-30259

Chapter 15 Petition Date: September 22, 2010

Court: District of Arizona (Yuma)

Judge: Randolph J. Haines

Petitioner's Counsel: Cody J. Jess, Esq.
                      SCHIAN WALKER, PLC
                      3550 N. Central Ave., #1700
                      Phoenix, AZ 85012-2115
                      Tel: (602) 277-1501
                      Fax: (602) 297-9633
                      E-mail: ecfdocket@swazlaw.com

Estimated Assets: $0 to $50,000

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

Debtor-affiliates that filed separate petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
TSO Holding ApS                   SKS 50-199/2010  04/20/2010
Thor Olsen                        SKS 50-200/2010  04/20/2010
Susanne Olsen                     SKS 50-201/2010  04/20/2010
Thor Olsen                             10-30231    09/22/2010
Susanne Olsen                          10-30246    09/22/2010


UAL CORP: Bank Debt Trades at 8% Off in Secondary Market
--------------------------------------------------------
Participations in a syndicated loan under which United Air Lines,
Inc., is a borrower traded in the secondary market at 91.94 cents-
on-the-dollar during the week ended Friday, September 24, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.69
percentage points from the previous week, The Journal relates.
The Company pays 200 basis points above LIBOR to borrow under the
facility.  The bank loan matures on February 1, 2014, and carries
Moody's B1 rating and Standard & Poor's B+ rating.  The loan is
one of the biggest gainers and losers among 215 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

                       About UAL Corporation

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA) --
http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest air
carrier.  The airline flies to Brazil, Korea and Germany.

The company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors.  Judge Eugene R. Wedoff
confirmed a reorganization plan for United on Jan. 20, 2006.  The
Company emerged from bankruptcy on Feb. 1, 2006.

Reorganized UAL Corp. carries a 'B3' corporate family and
probability of default ratings from Moody's, 'B-' long term
foreign issuer credit rating from Standard & Poor's, and 'CCC'
long term issuer default rating from Fitch.

At June 30, 2010, UAL had $20.134 billion in total assets against
total current liabilities of $8.573 billion, long-term debt of
$6.281 billion, long-term obligations under capital leases of
$1.01 billion, other liabilities and deferred credits of
$7.022 billion, and a stockholders' deficit of $2.756 billion.

UAL and Continental Airlines expect to close their merger by
Friday, Oct. 1, 2010.  Upon the closing of the merger, the holding
company, UAL Corporation, will be renamed United Continental
Holdings, Inc.


UAL CORP: Continental & United Commit to Cleveland
--------------------------------------------------
Continental Airlines (NYSE: CAL) and UAL Corporation (NASDAQ:
UAUA), the holding company whose primary subsidiary is United
Airlines, reaffirmed their commitment to Cleveland, agreeing
to maintain specified levels of air service at Cleveland Hopkins
International Airport when the two airlines combine their global
networks upon closing of their proposed merger.

Continental and United made the commitment in an agreement with
the Ohio Attorney General, whose office has been reviewing the
merger.  The carriers believe the merger, which has been cleared
by the U.S. Department of Justice and European Commission, will
enhance competition and entered into the agreement in the
interests of bringing about an expeditious completion of the
Attorney General's review.

Continental and Cleveland have a long partnership and this
agreement is evidence that the partnership will continue after the
merger.  The carriers believe the merger will deliver air service
for Cleveland and its other hubs that will be far superior to the
service that the carriers could have provided if they had not
combined.  Cleveland and Northeast Ohio customers will benefit
from same-carrier service to more than 350 destinations worldwide,
improved flight connections across a combined global network and a
more valuable frequent flyer program.

United and Continental would like to acknowledge the efforts of
the Ohio Attorney General Richard Cordray, Mayor Frank Jackson and
the Cleveland Air Service Working Group, which the Mayor co-chairs
along with Bill Christopher, chairman of the Greater Cleveland
Partnership; and the support of Governor Ted Strickland; U.S.
Senators Sherrod Brown and George Voinovich, and members of the
Northeast Ohio Congressional Delegation.

Continental and United announced an all-stock merger of equals on
May 3, 2010.  Both companies have scheduled special stockholder
votes on the merger on Sept. 17, 2010.

                       About UAL Corporation

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA) --
http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest air
carrier.  The airline flies to Brazil, Korea and Germany.

The Company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors.  Judge Eugene R. Wedoff
confirmed a reorganization plan for United on Jan. 20, 2006.  The
Company emerged from bankruptcy on Feb. 1, 2006.

Reorganized UAL Corp. carries a 'B3' corporate family and
probability of default ratings from Moody's, 'B-' long term
foreign issuer credit rating from Standard & Poor's, and 'CCC'
long term issuer default rating from Fitch.

At June 30, 2010, UAL had $20.134 billion in total assets against
total current liabilities of $8.573 billion, long-term debt of
$6.281 billion, long-term obligations under capital leases of
$1.01 billion, other liabilities and deferred credits of
$7.022 billion, and a stockholders' deficit of $2.756 billion.

UAL and Continental Airlines expect to close their merger by
Friday, Oct. 1, 2010.  Upon the closing of the merger, the holding
company, UAL Corporation, will be renamed United Continental
Holdings, Inc.

                    About Continental Airlines

Continental Airlines is the world's fifth largest airline.
Continental, together with Continental Express and Continental
Connection, has more than 2,700 daily departures throughout the
Americas, Europe and Asia, serving 132 domestic and 137
international destinations.  Continental is a member of Star
Alliance.  Continental has total assets of $13.60 billion against
total debts of $12.87 billion as of June 30, 2010.

In May 2010, Continental announced an agreement to merge with UAL
Corp.  The merger has not yet been completed.

In August 2010, Moody's Investors Service affirmed its 'B2'
corporate family, with negative outlook, for Continental Airlines.
Moody's said the affirmation, among other things, signifies the
potential for it to maintain the B2 rating if the proposed merger
with UAL (B3 corporate family from Moody's, on review for upgrade)
is completed under terms that enable the combined entity to
achieve the potential revenue and cost synergies that have been
identified.  However, the outlook remains negative because of the
industry's weak track record in successfully executing large
business combinations.

Continental caries a 'B' corporate rating, on watch negative, from
Standard & Poor's.

                           *     *     *

In September 2010, Fitch Ratings upgraded the debt ratings of UAL
Corp. and its principal operating subsidiary United Airlines,
Inc., prior to the expected closing of the merger between United
and Continental Airlines.  Fitch has also assigned a rating of
'BB-/RR1' to certain senior secured issues, which are obligations
of United and guaranteed by UAL.  The Rating Outlook for both UAL
and United is Positive.

United's ratings, which were placed on Rating Watch Positive in
May at the time the merger plan was announced, have been upgraded:

United:

  -- Issuer Default Ratings (IDR) to 'B-' from 'CCC';
  -- Secured bank credit facility to 'BB-/RR1' from 'B+/RR1';
  -- Senior unsecured to 'CC/RR6' from 'C/RR6'.

In addition, Fitch upgraded UAL's ratings:

  -- IDR to 'B-' from 'CCC';
  -- Senior unsecured to 'CC/RR6' from 'C/RR6'.


ULTIMATE ESCAPES: Wants Club Holdings Barred from Tapping Members
-----------------------------------------------------------------
Ultimate Escapes Holdings, LLC, et al., ask the U.S. Bankruptcy
Court for the District of Delaware to:

   -- direct Club Holdings, LLC, to refrain from using the
      Debtors' confidential and propriety membership lists and
      related information and from soliciting the Debtors'
      members;

   -- declare automatic stay barring Club Holdings' conduct in
      this regard; and

   -- avoid as fraudulent and preferential conveyances the
      transfer of valuable property by the Debtor in connection
      with the agreement dated August 6, 2010, without having
      received reasonably equivalent value in exchange and at a
      time when Ultimate Escapes was insolvent or became insolvent
      as a result of the transfer.

The Debtors explain that the member lists and other identifying
information regarding the Debtors members are important and
valuable assets of the Debtors' estates.  The member information
also serves as part of the collateral for the Debtors' secured
loan obligations involving CapitalSource.

The Debtors relate that Club Holdings solicited approximately 200
Ultimate escapes' members to be Club Holdings' members.

                   About Ultimate Escapes, Inc.

Ultimate Escapes, Inc. -- http://www.ultimateescapes.com/-- is a
luxury destination club that sells club memberships offering
members reservation rights to use its vacation properties, subject
to the rules of the club member's Club Membership Agreement.  The
Company's properties are located in various resort locations
throughout the world.

Kissimmee, Florida-based Ultimate Escapes Holdings, LLC, filed for
Chapter 11 bankruptcy protection on September 20, 2010 (Bankr. D.
Del. Case No. 10-12915).

Affiliates Ultimate Resort, LLC; Ultimate Operations, LLC;
Ultimate Resort Holdings, LLC; Ultimate Escapes, Inc. (fka Secure
America Acquisition Corporation); P & J Partners, LLC; UE Holdco,
LLC; UE Member, LLC, et al., filed separate Chapter 11 petitions.

CRG Partners Group LLC is the Debtors' chief restructuring
officer.

Ultimate Escapes estimated assets at $10 million to $50 million
and debts at $100 million to $500 million as of the Petition Date.


UNION BANK: Weiss Gives Mo. Bank Very Weak E- Rating
----------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to Union Bank
based in Kansas City, Mo.  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
June 30, 2010, the institution's balance sheet showed $611 million
in assets.


URBAN BRANDS: Seeks Court Approval to Sell Assets Next Month
------------------------------------------------------------
Urban Brands Inc., parent of the Ashley Stewart women's clothing
stores, asked the court overseeing its bankruptcy case for
permission to sell its assets at an auction next month, Dow Jones'
DBR Small Cap reports.

                         About Urban Brands

Urban Brands, Inc., operates as a women's specialty retailer.  Its
products include tops, such as knit tops, shirts and blouses, and
tanks and camis; bottoms, which include shorts and capris, skirts,
and pants; sweaters; and denim apparel, including denim jeans,
skirts, denim sets, and jackets.  The company also provides
dresses, career and related separates, jackets, intimates,
hosiery, swimwear, activewear, linen wear, extended sizes, bras
and panties, maxi dresses, ruffles, tunics, and accessories.

Urban Brands Inc. sought bankruptcy protection under Chapter 11
(Bankr. D. Del. Case No. 10-13005) on September 21, 2010.  The
Company estimated assets of $10 million to $50 million and debts
of $100 million to $500 million in its Chapter 11 petition.

Chun I Jang, Esq., Mark D. Collins, Esq., and Paul N. Heath, Esq.,
at Richards, Layton Finger, P.A., in Wilmington, Delaware, serve
as counsel to the Debtors.  BMC Group, Inc., is the claims and
notice agent.


US CORRUGATED: S&P Gives Stable Outlook, Affirms 'B' Rating
-----------------------------------------------------------
Standard & Poor's Ratings Services revised its rating outlook on
U.S. Corrugated Inc. to stable from negative.  At the same time,
S&P affirmed its ratings on U.S. Corrugated, including the 'B'
corporate credit rating.

"The rating outlook revision reflects Standard & Poor's view that
favorable containerboard and corrugated products industry
conditions will likely allow U.S. Corrugated to maintain its
adjusted EBITDA over the next several quarters at or above its
trailing-12-month level of approximately $35 million, as of
July 3, 2010," said Standard & Poor's credit analyst Tobias
Crabtree.  As a result, S&P expects the company to sustain at
least 20% covenant cushion under the credit agreement governing
its $30 million asset-based lending facility.  In addition, S&P's
outlook reflects its view that the company's liquidity is adequate
and that its leverage may decline to about 5.5x over the next 12
months, a level in line with a 'B' rating given its weak business
profile.

The stable rating outlook reflects S&P's expectations that the
company's operating conditions will remain favorable as a result
of a gradual improvement in economic conditions coupled with S&P's
expectations for no significant increase in raw materials costs.
Based upon its operating assumptions, S&P also believe that the
company's liquidity should improve over the next 12 months given
that company will likely maintain a covenant cushion under its
$30 million asset-based lending facility above 20%.  In addition,
S&P estimates leverage could decline to about 5.5x over the next
12 months, a level in line with the 'B' rating, from more than 7x
as of July 3, 2010.

S&P could lower the ratings if market conditions deteriorate
because of a tepid recovery in the U.S. economy, or if input
costs, especially for old corrugated containers, remain elevated
and sales price increases do not take hold, which S&P thinks could
cause cash flow to decline and liquidity to tighten considerably.
Specifically, a negative rating action could occur if S&P thinks
EBITDA was likely to decline over the next several quarters by at
least 20% from its trailing-12 month level at July 3, 2010.

Rating upside potential is unlikely in the near term given the
company's high degree of leverage and weak business risk profile.


VALUE CITY: Judge Rejects 10% Holdback in Professionals' Fees
-------------------------------------------------------------
The Hon. Judge James M. Peck overruled the U.S. Trustee's
objection to final fee applications submitted by Willkie Farr &
Gallagher LLP as counsel for Value City Holdings, Inc., and
Otterbourg, Steindler, Houston & Rosen P.C., as counsel for the
Official Committee of Unsecured Creditors, to the extent the U.S.
Trustee seeks a 10% reduction or holdback.  The Court reserves
judgment on the Objection as it relates to specific time entries
or fee requests of Willkie.

The Professionals seek final compensation totaling $7,051,938.88
in fees and $226,745.81 in expenses.

The U.S. Trustee expresses concern that unsecured creditors have
not yet received distributions in the liquidating chapter 11 case
and recommends either a 10% reduction in fees or a 10% holdback on
payment pending distributions to unsecured creditors as
contemplated in Debtor's plan.  Willkie and OSH&R oppose any
reduction or holdback, noting that the Professionals worked
diligently in formulating a liquidating plan that has been
confirmed by the Court, that they have done all that is necessary
under the Bankruptcy Code to earn an award of final compensation
and that their right to compensation should not be tied to the
timing or amount of distributions to creditors under the confirmed
plan.

The Court has been advised that the U.S. Trustee and Willkie are
in the process of reviewing and discussing these specific issues
relating to compensation.  As a result, the Court will defer
ruling on those particular aspects of the Objection to give the
parties the opportunity to pursue a consensual resolution.  The
parties are directed to advise the Court regarding the status of
currently open issues by Sept. 12.

A copy of the Court's memorandum decision is available at:

     http://www.leagle.com/unsecure/page.htm?shortname=inbco20100922610

Headquartered in Columbus, Ohio, Value City Holdings Inc. --
http://www.valuecity.com/-- operates a chain of department stores
in the United States.  The company and eight of its affiliates
filed for Chapter 11 protection on Oct. 26, 2008 (Bankr. S.D.N.Y.
Lead Case No. 08-14197).  John C. Longmire, Esq., Andrew D.
Sorkin, Esq., and Lauren C. Cohen, Esq., at Willkie Farr &
Gallagher LLP, represent the Debtors' in their restructuring
efforts.  Epiq Bankruptcy Solutions LLC is the claims, noticing
and balloting agent for the Debtors.  Bijan Amini, Esq., and Avery
Samet, Esq., at Storch Amini & Munves, P.C., in New York, served
as special counsel for the Debtors.  Glenn R. Rice, Esq., and
David M. Posner, Esq., at Otterbourg, Steindler, Houston & Rosen,
P.C. in New York, served as attorneys for the Official Committee
of Unsecured Creditors.  Adam L. Rosen, Esq., Silvermanacampora
LLP, in Jericho, New York, served as conflicts counsel to the
Committee.  Value City estimated assets and debts between $100
million and $500 million each.

On February 4, 2010, the Debtors filed the Joint Chapter 11 Plan
of Liquidation for Value City Holdings, Inc and Its Affiliates and
the Disclosure Statement with respect to the Plan.  On March 15,
2010, the Debtors filed the First Amended Plan and related
Disclosure Statement.  On March 18, 2010, the Bankruptcy Court
entered an order approving the Disclosure Statement with respect
to the Debtors' First Amended Plan.  On March 23, 2010, the
Debtors filed a modified version of the First Amended Plan and
Disclosure Statement.  On May 17, 2010, the Plan was confirmed.
On June 10, 2010, the Effective Date occurred.  Pursuant to the
Confirmation Order, as of the Effective Date, each of the Debtors'
Cases were closed except for Lead Case No. 08-14197.


VICTOR LOGAN: Case Summary & 10 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: Victor R. Logan
               Wendy R. Logan
               6156 Logans Lane
               Rappahannock, VA 22538-2043

Bankruptcy Case No.: 10-36585

Chapter 11 Petition Date: September 22, 2010

Court: U.S. Bankruptcy Court
       Eastern District of Virginia (Richmond)

Judge: Kevin R. Huennekens

Debtors' Counsel: Robert Easterling, Esq.
                  2217 Princess Anne Street, Suite 100-2
                  Frederickburg, VA 22401
                  Tel:  (540)373-5030
                  E-mail: eastlaw@easterlinglaw.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' 10 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/vaeb10-36585.pdf


VISTEON CORP: Opens Manufacturing Facility in Russia
----------------------------------------------------
Visteon Corporation has opened an automotive interiors
manufacturing facility in Kaluga, one of Russia's main centers for
automotive production, approximately 180 kilometers (112 miles)
southwest of Moscow.

Based in the Kaluga Supplier Park, the new facility manufactures
injection molded door panels and other interior components for the
new Volkswagen Polo, which is to be sold in the domestic Russian
market.  Visteon plans to reach full production in the first
quarter of 2011.  Equipped with advanced injection molding lines
and ultrasonic welding assembly cells, the new plant can be
expanded as Visteon develops business in the region.

"The Kaluga plant demonstrates Visteon's commitment to
establishing a strong presence in the growing Russian market in
support of our global growth objectives," said Steve Meszaros,
Visteon product group president.

Pierre Boulet, Visteon's general manager for Europe and South
America, added: "This new facility provides a platform for Visteon
to expand our relationships with the increasing number of global
vehicle manufacturers in the region."

Visteon's strong product portfolio and established supply base in
Russia position the company to support additional customers as
they expand in the Russian market.  Visteon currently supplies
interior, climate, electronics and lighting components to global
vehicle manufacturers' Russian locations.  Visteon recently
announced the formation of a joint venture, OOO Visteon Avtopribor
Electronics, to supply a wide range of cockpit electronics
products to vehicle manufacturers in Russia.

                        About Visteon Corp

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is an automotive supplier
that designs, engineers and manufactures innovative climate,
interior, electronic and lighting products for automakers.  The
Company has corporate offices in Van Buren Township, Michigan
(U.S.); Shanghai, China; and Kerpen, Germany.  It has facilities
in 27 countries and employs roughly 35,500 people.  The Company
disclosed assets of US$4,561,000,000 and debts of US$5,311,000,000
as of March 31, 2009.

Visteon Corporation and 30 of its affiliates filed for Chapter 11
protection on May 28, 2009, (Bank. D. Del. Case No. 09-11786
through 09-11818).  Judge Christopher S. Sontchi oversees the
Chapter 11 cases.  James H.M. Sprayregen, Esq., Marc Kieselstein,
Esq., and James J. Mazza, Jr., Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, represent the Debtors in their restructuring
effort.  Laura Davis Jones, Esq., James E. O'Neill, Esq., Timothy
P. Cairns, Esq., and Mark M. Billion, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, serve as the Debtors'
local counsel.  The Debtors' investment banker and financial
advisor is Rothschild Inc.  The Debtors' notice, claims, and
solicitation agent is Kurtzman Carson Consultants LLC.  The
Debtors' restructuring advisor is Alvarez & Marsal North America,
LLC.

Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware entered an order on August 31, 2010,
confirming the Fifth Amended Plan of Reorganization of Visteon
Corporation and its debtor affiliates.  Visteon expects to emerge
from Chapter 11 upon completion of necessary closing conditions,
which the Company expects to occur by October 1.


WALTER CLIFT: Case Summary & 10 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Walter Clift
        26895 Aliso Creek Road, #B92
        Aliso Viejo, CA 92629

Bankruptcy Case No.: 10-23402

Chapter 11 Petition Date: September 22, 2010

Court: United States Bankruptcy Court
       Central District Of California (Santa Ana)

Judge: Erithe A. Smith

Debtor's Counsel: Arthur F. Stockton, Esq.
                  STOCKTON LAW OFFICES
                  8655 E Via De Ventura Ste G200
                  Scottsdale, AZ 85258
                  Tel: (866) 682-8776
                  Fax: (866) 207-4082
                  E-mail: art@stocktonlawoffices.com

Estimated Assets: $0 to $50,000

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

A list of the Debtor's 10 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-23402.pdf


WASHINGTON MUTUAL: Balks at Black Horse-Led Investors' Suit
-----------------------------------------------------------
Washington Mutual, Inc., alleges that the adversary complaint
commenced by a group of sophisticated investors led by Black Horse
Capital LP is nothing more than an attempt by the plaintiffs to
overturn the priority regime of the U.S. Bankruptcy Code and
receive a windfall ahead of true creditors and ordinary investors.

Black Horse and the other plaintiffs who actually bought Trust
Preferred Securities prior to a conditional exchange dated
September 25, 2008, were fully informed that they were taking
risk that the Office of Thrift Supervision could, at its sole
discretion, direct a Conditional Exchange of the Trust Preferred
Securities for preferred shares in WaMu Inc. at any time, Mark D.
Collins, Esq., at Richards, Layton & Finger, P.A., in Wilmington,
Delaware, counsel to the Debtors, contends.

The Plaintiffs were also fully informed that the Conditional
Exchange would operate automatically, and that the Trust
Preferred Securities which they held would be legally deemed to
represent preferred shares in WaMu Inc. upon the declaration of
the Confidential Exchange, rather than waiting for the physical
exchange of securities, Mr. Collins points out.

"Because they had full knowledge and prior disclosure that the
purpose of the Trust Preferred Securities offerings was to raise
capital for Washington Mutual Bank and the fact that Trust
Preferred Securities would constitute 'core' capital of WMB, the
Plaintiffs' contention is absurd that investors were somehow
misled because they were not informed that OTS would further
direct that the Trust Preferred Securities would be downstreamed
from WaMu Inc. to Washington Mutual Bank," Mr. Collins argues.

He further notes that the Plaintiffs purchased the purported
rights to the Trust Preferred Securities after the Conditional
Exchange, at which time the Bank itself was sold and allegations
about fraud and mismanagement in WMB were disseminated.

Mr. Collins also contends that if the Plaintiffs truly believed
that they continued to own the Trust Preferred Securities after
the Conditional Exchange was announced, they would have filed an
adversary proceeding, seeking a declaration of ownership soon
after September 25, 2008.  Instead, they waited almost two years
after the date until the Global Settlement Agreement has been
reached and a Plan of Reorganization proposed in the Debtors'
cases, he emphasizes.  "Clearly, those Plaintiffs who purchased
rights to the Trust Preferred Securities have been disappointed
that their hoped for windfall has not occurred, and are trying to
use this belated proceeding as leverage to sweeten the pot," he
maintains.

WaMu Inc. thus denies all allegations in the Black Horse
Complaint.

WaMu Inc. also asserts affirmative defenses, including that the
Complaint fails to state a claim upon which relief can be
granted, and the damages allegedly suffered by the Plaintiffs
were not the proximate or foreseeable result of acts or omissions
of WaMu Inc.

WaMu Inc. further asserts a counterclaim, asking the Court to
order that any claims asserted by the Plaintiffs against it are
subordinated to all claims or interests that are senior to or
equal to preferred equity interests.

           JPMorgan Chase Seeks Dismissal of Complaint

JPMorgan Chase Bank, N.A., generally denies allegations in the
Black Horse Complaint.  In further response to the Complaint,
JPMorgan Chase asserts these affirmative defenses, namely:

  (1) The Complaint fails to state a claim upon which relief can
      be granted;

  (2) The Court lacks subject matter jurisdiction over the
      Plaintiffs' claims in this adversary action;

  (3) FIRREA bars the Court or any other court in the District
      of Delaware from exercising jurisdiction over the
      Plaintiffs' claims;

  (4) The Plaintiffs lack standing to maintain some or all of
      the claims alleged in the Complaint;

  (5) The Plaintiffs are barred from seeking or obtaining some
      or all of the relief sought in the Complaint by the
      doctrines of waiver and estoppels;

  (6) The Plaintiffs' claims are barred, in whole or in part,
      (i) for failure to join one or more indispensable parties;
      (ii) by applicable banking rules, regulations, and
      statutes; and (iii) by the statutes of frauds;

  (7) The Plaintiffs failed to exhaust their administrative
      remedies;

  (8) The Plaintiffs cannot be granted some or all of the relief
      they seek because (i) they have unclean hands; (ii)
      JPMorgan Chase is a holder in due course or a bona fide
      purchaser of value; and (iii) even if they were to prevail
      on the merits of their claims, the remedy they seek is
      unavailable for their claims; and

  (9) The Plaintiffs' claims against JPMorgan Chase Bank,
      JPMorgan Chase & Co., WMPFF, WaMu Cayman, WaMu Delaware I,
      WaMu Delaware II, WaMu Delaware III and WaMu Delaware IV
      will be barred, released and extinguished if the GSA is
      approved or the Plan is confirmed by the Court.

JPMorgan Chase thus demands judgment dismissing the claims
asserted against it.

According to an entry in the Court's docket, mediation in the
Black Horse Adversary Complaint is due January 12, 2011.

                      About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The Company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over September 25 by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  Wamu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment estimated assets of
$500,000,000 to $1,000,000,000 with zero debts.

Peter Calamari, Esq., and David Elsberg, Esq., at Quinn Emanuel
Urquhart Oliver & Hedges, LLP, served as legal counsel to WMI with
responsibility for the litigation.  Brian Rosen, Esq., at Weil,
Gotshal & Manges LLP served as legal counsel to WMI with
responsibility for the Chapter 11 case.

Bankruptcy Creditors' Service Inc. publishes Washington Mutual
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Washington Mutual Inc. (http://bankrupt.com/newsstand/or
215/945-7000).


WASHINGTON MUTUAL: Denies Any Liability to Broadbill Investment
---------------------------------------------------------------
Washington Mutual Inc. generally denies the allegations asserted
by Broadbill Investment Corp., Nantahala Capital Partners, LP.,
and Blackwell Capital Partners, LLC, in the amended complaint they
filed.

Broadbill's Amended Complaint asserts a class action for a
declaratory judgment relating to the conveyance by Dime Bancorp
and its board of directors of the net proceeds, if any, from a
litigation entitled Anchor Savings Bank FSB v. United States, No.
95-39C.  The Dime Board issued "litigation tracking warrants" for
the conveyance of such value.  WaMu assumed the Dime obligation on
the LTWs following WaMu's acquisition of Dime.

WaMu specifically denies any and all liability to the Plaintiffs'
claims based on securities that the Plaintiffs' purportedly hold,
namely, the LTW, which are exercisable for shares of WaMu Inc.
common stock.

Moreover, WaMu asserts that the Plaintiffs lack standing to bring
the claims asserted in the Complaint.

Chun I. Jang, Esq., at Richards, Layton & Finger, P.A., in
Wilmington, Delaware, on the Debtors' behalf, further contends
that the claims against WaMu in the Complaint are barred by the
doctrine of laches; the doctrine of estoppel; the doctrine of
waiver; the doctrine of unclean hands; the parol evidence rule;
the Plaintiffs' failure to mitigate damages; the Plaintiffs'
failure to exhaust their contractual remedies; and the
Plaintiffs' failure to set forth a basis for their attorneys'
fees.

By its response, WaMu asks the Court that the Broadbill Complaint
and each cause of action be dismissed with prejudice, and that it
be awarded costs of the lawsuit and the related attorney's fees.

According to WaMu, the Debtors and counsel for the Plaintiffs are
currently negotiating a stipulation that will address issues
related to certification of the putative class.

                      About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The Company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over September 25 by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  Wamu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment estimated assets of
$500,000,000 to $1,000,000,000 with zero debts.

Peter Calamari, Esq., and David Elsberg, Esq., at Quinn Emanuel
Urquhart Oliver & Hedges, LLP, served as legal counsel to WMI with
responsibility for the litigation.  Brian Rosen, Esq., at Weil,
Gotshal & Manges LLP served as legal counsel to WMI with
responsibility for the Chapter 11 case.

Bankruptcy Creditors' Service Inc. publishes Washington Mutual
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Washington Mutual Inc. (http://bankrupt.com/newsstand/or
215/945-7000).


WASHINGTON MUTUAL: Says PFG's $37 Mil. Claim on Account of Equity
-----------------------------------------------------------------
Washington Mutual Inc. asks the U.S. Bankruptcy Court to find that
Claim No. 3835 filed by Principal Financial Group, Inc., for
$37,949,134 has the same priority as common equity interests
within the meaning of their Chapter 11 Plan of Reorganization.

Mark D. Collins, Esq., at Richards, Layton & Finger, P.A., in
Wilmington, Delaware, contends that each portion of the Claim
arises under a stock purchase agreement among Washington Mutual,
Inc., New American Capital, Inc., PFG and Principal Management
Corporation and would not exist but for PFG's purchase of the
stock of WM Advisors, Inc.  Thus, Claim No. 3835 is "a claim . .
. for damages arising from the purchase or sale of [a security of
. . . an affiliate of the debtor]" and must be subordinated
pursuant to Section 510(b) of the Bankruptcy Code, he points out.

Mr. Collins also insists that Section 510(b) subordination is
required even though Claim No. 3835 is alleged to arise, at least
in part, from contractual obligations that were unmatured as of
the Petition Date; and even though PFG holds the stock of a
former indirect subsidiary of Washington Mutual, Inc., rather
than WaMu Inc.'s own stock.

In response, PFG insists that the Claim is a claim for payments
that are wholly unrelated to the purchase, sale or value of
stock.  Instead, it is simply a claim for damages arising from
WaMu Inc.'s failure to continue to make available and sell a
certain amount of business to PFG as required by the various
agreements, including a Bank Channel Distribution Agreement,
Richard W. Riley, Esq., at Duane Morris LLP, in Wilmington,
Delaware -- rwriley@duanemorris.com -- counsel to PFG, argues.

Put simply, the payments do not even have a causal relationship
to the purchase of stock and do not even in any way fall within
the purview of Section 510(b), Mr. Riley maintains.

PFG thus asks the Court to allow its Claim as a general unsecured
claim for $39,002,621.

                      About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The Company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over September 25 by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  Wamu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment estimated assets of
$500,000,000 to $1,000,000,000 with zero debts.

Peter Calamari, Esq., and David Elsberg, Esq., at Quinn Emanuel
Urquhart Oliver & Hedges, LLP, served as legal counsel to WMI with
responsibility for the litigation.  Brian Rosen, Esq., at Weil,
Gotshal & Manges LLP served as legal counsel to WMI with
responsibility for the Chapter 11 case.

Bankruptcy Creditors' Service Inc. publishes Washington Mutual
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Washington Mutual Inc. (http://bankrupt.com/newsstand/or
215/945-7000).


WAYTRONX INC: Earns $3.5 Million in June 30 Quarter
---------------------------------------------------
Waytronx, Inc., filed its quarterly report on Form 10-Q, reporting
net income of $3.5 million on $10.7 million of revenue for the
three months ended June 30, 2010, compared with a net loss of
$282,187 on $6.0 million of revenue for the same period of
2009.  The Company had an accumulated deficit of $52.4 million and
a working capital deficiency of $17.5 million as of June 30, 2010.

The Company recorded $0 in impairment losses during the three
months ended June 30, 2010.  For the same period in 2009, the
Company recorded a $10.7 million impairment loss related to
goodwill and a $136,811 impairment loss related to patents.

During the three months ended June 30, 2010, and 2009, Waytronx
recognized gain on settlements of debt of $5.6 million and
$11.8 million, respectively.

The Company's balance sheet at June 30, 2010, showed $39.7 million
in total assets, $29.8 million in total liabilities, and
stockholders' equity of $9.9 million.

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

               http://researcharchives.com/t/s?6b93

As reported in the Troubled Company Reporter on April 6, 2010,
Webb & Company, P.A., in Boynton Beach, Fla., expressed
substantial doubt about the Company's ability to continue as a
going concern after auditing the Company's financial statements
for the year ended December 31, 2009.  The independent auditors
noted that the Company has a net loss of $4.2 million and an
accumulated deficit of $54.8 million at December 31, 2009.

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

               http://researcharchives.com/t/s?6b93

                       About Waytronx Inc.

Based in Tualatin, Oregon, Waytronx, Inc. (OTC BB: WYNX) has
pioneered and is developing innovative thermal management
solutions capable of revolutionizing the semiconductor, solar and
electronic packaging industries, among others, utilizing its
patented WayCool(TM)/WayFast(TM) hybrid mesh architecture.  In
addition, through its acquisition of CUI in May 2008, Waytronx has
developed the infrastructure, expertise, and platform necessary to
acquire, develop, and commercialize new technologies.

CUI is a solutions provider of electromechanical components and
industrial controls for OEM manufacturing.


WEI CHEN: Case Summary & 15 Largest Unsecured Creditors
-------------------------------------------------------
Joint Debtors: Wei Chen
               Erika P. Chen
               177 Greengable Way
               Chesapeake, VA 23322

Bankruptcy Case No.: 10-74482

Chapter 11 Petition Date: September 22, 2010

Court: U.S. Bankruptcy Court
       Eastern District of Virginia (Norfolk)

Judge: Stephen C. St. John

Debtors' Counsel: Joseph T. Liberatore, Esq.
                  CROWLEY, LIBERATORE, & RYAN, P.C.
                  1435 Crossways Boulevard, Suite 300
                  Chesapeake, VA 23320
                  Tel: (757) 333-4500
                  Fax: (757) 333-4501
                  E-mail: jliberatore@clrfirm.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/vaeb10-74482.pdf


WEST CORP: Bank Debt Trades at 2% Off in Secondary Market
---------------------------------------------------------
Participations in a syndicated loan under which West Corp. is a
borrower traded in the secondary market at 98.00 cents-on-the-
dollar during the week ended Friday, September 24, 2010, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.92 percentage
points from the previous week, The Journal relates.  The Company
pays 237.5 basis points above LIBOR to borrow under the facility.
The bank loan matures on May 11, 2013, and carries Moody's B1
rating and Standard & Poor's BB- rating.  The loan is one of the
biggest gainers and losers among 215 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

                      About West Corporation

Founded in 1986 and headquartered in Omaha, Nebraska, West
Corporation --http://www.west.com/-- provides outsourced
communication solutions to many of the world's largest companies,
organizations and government agencies.  West Corporation has a
team of 41,000 employees based in North America, Europe and Asia.

West Corporation had total assets of $3,008,762,000, total
liabilities of $4,068,914,000, Class L Common Stock of
$1,413,958,000, and stockholders' deficit of $2,474,110,000 as of
June 30, 2010.

West Corp. carries a 'B2' corporate rating from Moody's and 'B+'
corporate rating from Standard & Poor's.


WEST FRASER: S&P Raises Corporate Credit Rating to 'BB+'
--------------------------------------------------------
Standard & Poor's Ratings Services said it raised its long-term
corporate credit rating on West Fraser Timber Co. Ltd. to 'BB+'
from 'BB'.  The outlook is stable.

At the same time, S&P raised its issue-level rating on WFT's
secured debt to 'BB+' from 'BB'.  The recovery rating is unchanged
at '4', reflecting what S&P considers average (30%-50%) recovery
in a default scenario.

"S&P base the upgrade on its opinion of WFT's low leverage and
good operating performance," said Standard & Poor's credit analyst
Jatinder Mall.

The ratings on WFT reflect S&P's view of the company's position as
a leading North American lumber producer, its low-cost lumber
operations, a high degree of fiber integration, good product
diversity, and low leverage.  These strengths are somewhat offset,
in S&P's opinion, by the company's participation in the cyclical
housing construction and volatile pulp markets.

WFT is an integrated wood products company with operations in
western Canada and the southern U.S. Although its core business is
lumber production, it also produces panels, pulp, and newsprint.
The company has an annual production capacity of 5.5 billion board
feet of lumber.

Standard & Poor's considers WFT's business risk profile as fair,
which is reflective of the company's exposure to the cyclical
North American housing construction market despite its low cost
position, and its financial risk profile as intermediate.  While
the company has sufficient fiber supply for its lumber mills in
Canada through long-term timber tenures, S&P's concern is the
long-term availability of sufficient fiber for the company's
lumber mills in the interior B.C, which represent close to half of
its production capacity.  Specifically, S&P is worried that the
mountain pine beetle infestation in the interior B.C., where WFT's
operations are, will eventually lead to a lower annual allowable
cut, but at present it's not clear how much lower.

The stable outlook reflects S&P's expectations that WFT's debt
levels should remain flat for the next year-and-a-half and that,
while U.S. housing market conditions remain weak, there is
significant room in the current credit metrics to absorb a decline
in lumber and pulp prices.  Even if the company's EBITDA were to
decline by 50% from last 12 months June 30, 2010, levels of
C$382 million, leverage would be about 2.5x.  S&P could lower the
ratings on WFT if lumber and pulp prices decline sharply as seen
in recent history and if the company's leverage is 3.5x-4.0x.  An
upgrade would require improvement in the company's business risk
profile, which in turn would require marked improvement in U.S.
housing starts.


WESTERN NATIONAL: Weiss Gives Ariz. Bank Very Weak E- Rating
------------------------------------------------------------
Weiss Ratings has assigned its "very weak" E- rating to Western
National Bank based in Phoenix, Ariz.  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
June 30, 2010, the institution's balance sheet showed
$221.4 million in assets.


WILLIAM LYON: S&P Raises Rating on Senior Unsec. Notes to 'CC'
--------------------------------------------------------------
Standard & Poor's Ratings Services raised its rating on William
Lyon Homes' 10.75% senior unsecured notes due 2013 to 'CC' from
'D' after the company repurchased $10.5 million of outstanding
principal for $9.0 million.  S&P lowered its rating on the notes
to 'D' because S&P considered the discounted repurchase to be
tantamount to default under its criteria for exchange offers and
similar restructurings.  In accordance with its criteria, S&P is
now raising its rating on these notes because the company
completed its repurchase, and S&P is not aware of additional
discounted repurchases at this time.

Newport Beach, Calif.-based William Lyon is a privately-held,
moderately-sized regional homebuilder with operations in
California, Arizona, and Nevada.  S&P view the company's business
risk profile to be vulnerable based on sustained operating losses.
S&P also views the company to have a highly leveraged financial
risk profile with a less-than-adequate liquidity position.
Capital constraints may impede the company's ability to add to its
small platform of relatively well-positioned communities in key
California housing markets and return to consistent profitability.

                           Rating List

                        William Lyon Homes

            Corporate credit rating   CCC/Negative/--

                          Rating Raised

                        William Lyon Homes

                                          Rating
                                          ------
                                        To      From
                                        --      ----
                Senior notes due 2013   CC      D
                Recovery rating         6


WINDSTREAM CORPORATION: Moody's Puts Ba3 Rating on $500 Mil. Notes
------------------------------------------------------------------
Moody's Investors Service has assigned a Ba3 rating to Windstream
Corporation's proposed $500 million issuance of senior unsecured
notes due 2020.  The company expects to use the net proceeds
primarily to fund the estimated $580 million in cash, debt
repayment needs, and other transaction fees and expenses for the
acquisition of Q-Comm Corporation and its wholly-owned
subsidiaries, Kentucky Data Link and Norlight, Inc.  Moody's
believes that Windstream will fund the remaining cash uses from
internal cash resources.  Windstream expects to close the
acquisition by the end of 2010.

                        Ratings Rationale

As part of the rating action, Moody's raised Windstream's
Speculative Grade Liquidity Rating back to SGL-1 from SGL-2 due to
the restoration of the company's very good liquidity profile.

Moody's has taken these rating actions:

Assignments:

Issuer: Windstream Corporation

* US$500M Senior Unsecured Regular Bond/Debenture, Assigned Ba3,
  LGD4 -- 69%

Upgrades:

Issuer: Windstream Corporation

* Speculative Grade Liquidity Rating, Upgraded to SGL-1 from SGL-2
* Outlook -- Stable

Overall, the Company's liquidity rating continues to reflect the
strength and predictability of internal cash generation
capabilities, expectations of measured use of the revolving credit
facilities, and sufficient cushion with respect to financial
maintenance covenants associated with its credit facilities.
Although the company contributes a substantial portion of free
cash flow to dividends, it has generated cash flow from operations
in excess of $1 billion for the past two years, well in excess of
working capital needs and capital expenditures.  Moody's expects
the company to maintain strong, albeit modestly declining cash
flow from operations for the next twelve months ending
September 30, 2011.  Debt maturities through year-end 2011 remain
modest.

Moody's most recent rating action for Windstream was on July 12,
2010, when Moody's assigned a Ba3 rating to the company's senior
unsecured note offering.

Windstream, headquartered in Little Rock, AR, is an ILEC providing
telecommunications services in 21 states and generated about
$3.3 billion in annual revenues in the twelve months ended
June 30, 2010.


ZOLTAN SZAKALY: Case Summary & 17 Largest Unsecured Creditors
-------------------------------------------------------------
Joint Debtors: Zoltan Szakaly
               Klara Paksy
               6171 Indian View Dr
               Fallbrook, CA 92028

Bankruptcy Case No.: 10-16756

Chapter 11 Petition Date: Septmber 22, 2010

Court: United States Bankruptcy Court
       Southern District of California (San Diego)

Debtor's Counsel: Joseph J. Rego, Esq.
                  LAW OFFICE OF JOSEPH REGO
                  8765 Aero Drive, Suite 306
                  San Diego, CA 92123
                  Tel: (858) 598-6628
                  Fax: (858) 598-6631
                  E-mail: joerego@regolaw.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' 17 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/casb10-16756.pdf


* Auto-Parts Deals Near Record Pace as Buyout Firms, Ross Invest
----------------------------------------------------------------
Mark Clothier at Bloomberg News reported that auto-parts supplier
acquisitions are back in fashion after a two-year slowdown as
billionaire investor Wilbur Ross scouts deals in Asia and Texas
Pacific Group helps set a near-record pace.

According to the report, PRTM, a consulting firm in Waltham,
Massachusetts, said that globally, 108 acquisitions took place in
the industry through May of this year, the fastest pace in nine
years, and more than 300 deals are likely.  PRTM in its third
annual study said that additional likely buyers include Eaton
Corp. and Johnson Controls Inc.

Bloomberg relates that possible sellers include Hitachi Ltd.,
Continental AG, Visteon Corp., TRW Automotive Holdings Corp. and
Delphi Corp.

Private-equity groups such as TPG are "hugely interested" as
confidence in the industry starts to rebound, PRTM said.

Mr. Ross said he's hunting for acquisitions in China and India for
International Automotive Components Group's interior-parts
business and those that make other components.


* Chief Executives Of Small Banks May Shun $30 Billion Program
--------------------------------------------------------------
Dow Jones' DBR Small Cap reports that a $30 billion program backed
by the Obama administration to encourage community banks to lend
to small businesses is missing one thing: demand from banks.


* CQS Said to Plan Fund Investing in Distressed Corporate Debt
--------------------------------------------------------------
London-based money manager CQS U.K. LLP opened a new fund to
invest in the securities of distressed companies, John Glover at
Bloomberg News reported, citing a person familiar with the plans.
CQS, which has $8 billion of assets, has put up the $50 million
CQS Distressed Opportunities Fund, targeting distressed
investments including corporate bonds, loans and leases, the
person said.


* Moody's Reports B3 Negative & Lower List Dips Below 200 Cos.
--------------------------------------------------------------
Moody's Investors Service said the number of companies on its B3
Negative and Lower Corporate Ratings List fell below 200 in the
third quarter, a sign of improving credit quality for speculative-
grade companies.

There were 195 companies on the list as of Sept. 1, 2010 -- the
lowest level in two years -- compared with a peak of 288 in June
2009, Moody's said in a new report.  Companies on the list have a
probability of default rating of Caa1 or lower, or a B3 PDR with a
negative outlook or a rating under review for a possible
downgrade.

Moody's noted that the rate of decline in the size of the list is
slowing, suggesting that it could be approaching a "new normal"
level after the credit crisis greatly inflated the ranks of lower-
rated companies.  Many companies still on the list are struggling
with tepid business conditions and high leverage, Moody's said.
Further economic weakness or a shift in financial market
conditions could lead to more companies appearing on the list,
although the rating agency has yet to see signs of such an
inflection in speculative-grade credit quality.

"The question now is whether speculative-grade credit quality will
take a turn for the worse, re-inflating the size of the B3
Negative and Lower list," said David Keisman, Moody's senior vice
president and author of the report.  "That will be determined
largely by the direction of consumer confidence, unemployment and
capital spending, as well as the willingness of investors to
continue lending to companies at higher risk of default in a quest
for higher yields.  The significant amount of debt coming due over
the next five years also remains a critical hurdle."

According to the report, most removals from the list are now
occurring due to positive rating actions rather than defaults or
rating withdrawals.  The number of companies added to the list
each month as a result of rating downgrades has declined
substantially since mid 2009.

Like the B3 Negative and Lower list, other Moody's proprietary
indicators are showing positive signs for corporate credit
quality.  The ratio of corporate upgrades to downgrades has been
solidly positive since last fall.  Moody's Liquidity-Stress Index,
a liquidity indicator for speculative-grade companies, is at pre-
credit-crisis levels.

"Firming credit quality and stronger corporate earnings have
pulled many companies off the B3 Negative and Lower list through
rating upgrades," said Keisman.  "While many companies still on
the list are highly leveraged and facing challenging business
conditions, continued access to capital markets and significant
refinancing activity in the past year should enable many to avoid
default, even if they remain in deep speculative-grade rating
territory.  "

Trends in the B3 Negative and Lower List support Moody's
expectation that the U.S. speculative-grade default rate will
decline from 5.1% in August to 2.9% in December and 2.3% in August
2011.


* BOND PRICING -- For Week From September 20 to 24, 2010
--------------------------------------------------------

  Company             Coupon     Maturity   Bid Price
  -------             ------     --------   ---------
155 E TROPICANA        8.750%     4/1/2012     5.375
ABITIBI-CONS FIN       7.875%     8/1/2009     8.000
ADVANTA CAP TR         8.990%   12/17/2026    12.000
AFFINITY GROUP        10.875%    2/15/2012    47.250
AHERN RENTALS          9.250%    8/15/2013    44.250
AMBAC INC              9.375%     8/1/2011    37.000
AMBASSADORS INTL       3.750%    4/15/2027    50.000
AT HOME CORP           0.525%   12/28/2018     0.016
BANK NEW ENGLAND       8.750%     4/1/1999    12.813
BANK NEW ENGLAND       9.875%    9/15/1999    12.625
BANKUNITED FINL        6.370%    5/17/2012     5.000
BLOCKBUSTER INC        9.000%     9/1/2012     3.125
BOWATER INC            6.500%    6/15/2013    28.375
BOWATER INC            9.000%     8/1/2009    23.000
BOWATER INC            9.500%   10/15/2012    23.000
BRODER BROS CO        11.250%   10/15/2010    98.000
C&D TECHNOLOGIES       5.500%   11/15/2026    70.813
C&D TECHNOLOGIES       5.500%   11/15/2026    69.000
CAPMARK FINL GRP       5.875%    5/10/2012    33.500
CELL GENESYS INC       3.125%     5/1/2013    35.000
CHENIERE ENERGY        2.250%     8/1/2012    41.125
CIR-CALL10/10         10.250%     5/1/2014   103.875
COMERICA CAP TR        6.576%    2/20/2037   100.050
EDDIE BAUER HLDG       5.250%     4/1/2014     5.000
EK-CALL10/10           3.375%   10/15/2033    97.000
ELEC DATA SYSTEM       3.875%    7/15/2023    96.500
EOP OPERATING LP       4.650%    10/1/2010    98.500
EVERGREEN SOLAR        4.000%    7/15/2013    37.000
FAIRPOINT COMMUN      13.125%     4/1/2018     8.000
FAIRPOINT COMMUN      13.125%     4/2/2018     9.000
FEDDERS NORTH AM       9.875%     3/1/2014     0.500
GAMESTOP CORP/IN       8.000%    10/1/2012   102.000
GENERAL MOTORS         7.125%    7/15/2013    31.500
GENERAL MOTORS         7.700%    4/15/2016    30.100
GENERAL MOTORS         9.450%    11/1/2011    28.000
GREAT ATLA & PAC       5.125%    6/15/2011    77.750
GREAT ATLA & PAC       6.750%   12/15/2012    57.576
HSBC-CALL10/10         5.650%    8/15/2019    98.000
INDALEX HOLD          11.500%     2/1/2014     0.500
INTL LEASE FIN         4.850%   10/15/2010    96.875
KEYSTONE AUTO OP       9.750%    11/1/2013    40.000
LEHMAN BROS HLDG       0.250%    2/16/2012    18.500
LEHMAN BROS HLDG       4.500%     8/3/2011    18.760
LEHMAN BROS HLDG       4.700%     3/6/2013    19.000
LEHMAN BROS HLDG       4.800%    2/27/2013    19.750
LEHMAN BROS HLDG       4.800%    3/13/2014    21.938
LEHMAN BROS HLDG       5.000%    1/22/2013    18.750
LEHMAN BROS HLDG       5.000%    2/11/2013    19.750
LEHMAN BROS HLDG       5.000%    3/27/2013    19.750
LEHMAN BROS HLDG       5.000%     8/3/2014    19.750
LEHMAN BROS HLDG       5.000%     8/5/2015    19.000
LEHMAN BROS HLDG       5.100%    1/28/2013    18.250
LEHMAN BROS HLDG       5.150%     2/4/2015    19.200
LEHMAN BROS HLDG       5.250%     2/6/2012    21.500
LEHMAN BROS HLDG       5.250%    1/30/2014    19.000
LEHMAN BROS HLDG       5.250%    2/11/2015    19.750
LEHMAN BROS HLDG       5.500%     4/4/2016    22.250
LEHMAN BROS HLDG       5.550%    2/11/2018    19.000
LEHMAN BROS HLDG       5.600%    1/22/2018    19.250
LEHMAN BROS HLDG       5.625%    1/24/2013    22.813
LEHMAN BROS HLDG       5.700%    1/28/2018    19.021
LEHMAN BROS HLDG       5.750%    4/25/2011    21.150
LEHMAN BROS HLDG       5.750%    7/18/2011    21.000
LEHMAN BROS HLDG       5.750%    5/17/2013    21.000
LEHMAN BROS HLDG       5.875%   11/15/2017    20.750
LEHMAN BROS HLDG       6.000%     4/1/2011    18.500
LEHMAN BROS HLDG       6.000%    7/19/2012    20.500
LEHMAN BROS HLDG       6.000%   12/18/2015    19.000
LEHMAN BROS HLDG       6.000%    2/12/2018    18.000
LEHMAN BROS HLDG       6.000%    1/29/2021    15.250
LEHMAN BROS HLDG       6.200%    9/26/2014    21.034
LEHMAN BROS HLDG       6.600%    10/3/2022    18.000
LEHMAN BROS HLDG       6.625%    1/18/2012    21.500
LEHMAN BROS HLDG       6.875%     5/2/2018    23.375
LEHMAN BROS HLDG       6.875%    7/17/2037     0.010
LEHMAN BROS HLDG       7.000%    4/16/2019    19.000
LEHMAN BROS HLDG       7.000%    10/4/2032    18.125
LEHMAN BROS HLDG       7.875%    11/1/2009    20.150
LEHMAN BROS HLDG       8.000%     3/5/2022    19.375
LEHMAN BROS HLDG       8.000%    3/17/2023    19.000
LEHMAN BROS HLDG       8.050%    1/15/2019    18.000
LEHMAN BROS HLDG       8.400%    2/22/2023    19.750
LEHMAN BROS HLDG       8.500%     8/1/2015    21.500
LEHMAN BROS HLDG       8.500%    6/15/2022    19.000
LEHMAN BROS HLDG       8.750%   12/21/2021    18.500
LEHMAN BROS HLDG       8.800%     3/1/2015    20.900
LEHMAN BROS HLDG       8.920%    2/16/2017    19.000
LEHMAN BROS HLDG       9.000%     3/7/2023    19.000
LEHMAN BROS HLDG       9.500%   12/28/2022    19.944
LEHMAN BROS HLDG       9.500%    1/30/2023    19.760
LEHMAN BROS HLDG       9.500%    2/27/2023    17.510
LEHMAN BROS HLDG      10.000%    3/13/2023    18.950
LEHMAN BROS HLDG      10.375%    5/24/2024    16.000
LEHMAN BROS HLDG      11.000%    6/22/2022    19.000
LEHMAN BROS HLDG      11.000%    3/17/2028    18.500
LEHMAN BROS HLDG      11.500%    9/26/2022    19.750
LEHMAN BROS HLDG      18.000%    7/14/2023    18.735
LEHMAN BROS INC        7.500%     8/1/2026    11.000
LOCAL INSIGHT         11.000%    12/1/2017    33.000
MAGNA ENTERTAINM       8.550%    6/15/2010    17.000
MERRILL LYNCH          1.580%     3/9/2011    99.500
NETWORK COMMUNIC      10.750%    12/1/2013    35.013
NEWPAGE CORP          10.000%     5/1/2012    52.833
NEWPAGE CORP          12.000%     5/1/2013    29.000
NORTH ATL TRADNG       9.250%     3/1/2012    63.250
PALM HARBOR            3.250%    5/15/2024    66.550
PHARM RESOURCES        2.875%    9/30/2010   100.000
RASER TECH INC         8.000%     4/1/2013    37.000
RESTAURANT CO         10.000%    10/1/2013    26.001
RESTAURANT CO         10.000%    10/1/2013    29.625
SPHERIS INC           11.000%   12/15/2012    21.000
STATION CASINOS        6.500%     2/1/2014     0.200
THORNBURG MTG          8.000%    5/15/2013     4.498
TIMES MIRROR CO        7.250%     3/1/2013    44.000
TOYOTA-CALL10/10       5.070%     4/1/2019   100.000
TRANS-LUX CORP         8.250%     3/1/2012    10.200
TRICO MARINE           3.000%    1/15/2027    10.000
TRICO MARINE SER       8.125%     2/1/2013    15.500
WCI COMMUNITIES        4.000%     8/5/2023     1.000
XRX-CALL10/10          7.625%    6/15/2013    99.530

                           *********

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
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re-mailing and photocopying) is strictly prohibited without prior
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herein is obtained from sources believed to be reliable, but is
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The TCR subscription rate is $775 for 6 months delivered via e-
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firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
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                  *** End of Transmission ***