TCR_Public/101113.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Saturday, November 13, 2010, Vol. 14, No. 315


ABITIBIBOWATER INC: Incurs $29 Million Net Loss in September
GENERAL GROWTH: Incurred $139,515,000 Net Loss in September
INNKEEPERS USA: Has $2.53 Million September Operating Income
JEVIC TRANSPORTATION: Posts $266,545 Net Loss in August
POINT BLANK: Reports $2.3 Million Net Loss in August

SCHUTT SPORTS: Reports $989,000 September Operating Loss


ABITIBIBOWATER INC: Incurs $29 Million Net Loss in September
On November 1, 2010, AbitibiBowater Inc. and certain of its U.S.
subsidiaries filed the monthly operating report for September 2010
with the United States Bankruptcy Court for the District of

The Debtors reported a consolidated net loss of $29.0 million on
net sales of $397.5 million in September.  Gross profit was
$16.5 million.  Operating loss was $112.1 million, including
restructuring and other costs of $119.1 million.

At September 30, 2010, the Debtors had $20.654 billion in total
assets, $8.097 billion in total liabilities, and $12.556 billion
in shareholders' equity.

For September 2010, the Debtors paid a total of $6.1 million in
professional fees and expenses.  Professional fees include
payments to professionals or consultants not in the ordinary

A full-text copy of the Company's September 2010 monthly operating
report is available for free at:


                     About AbitibiBowater Inc.

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

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

Paul, Weiss, Rifkind, Wharton & Garrison LLP, serves as the
Debtors' U.S. bankruptcy counsel.  Stikeman Elliot LLP, acts as
the Debtors' CCAA counsel.  Young, Conaway, Stargatt & Taylor, in
Wilmington, Delaware, serves as the Debtors' co-counsel, while
Troutman Sanders LLP in New York, serves as the Debtors' conflicts
counsel in the Chapter 11 proceedings.  The Debtors' financial
advisors are Advisory Services LP, and their noticing and claims
agent is Epiq Bankruptcy Solutions LLC.  The CCAA Monitor's
counsel is Thornton, Grout & Finnigan LLP, in Toronto, Ontario.

Abitibi-Consolidated Inc. and various Canadian subsidiaries filed
for protection under Chapter 15 of the U.S. Bankruptcy Code on
April 17, 2009 (Bankr. D. Del. 09-11348).  Pauline K. Morgan,
Esq., and Sean T. Greecher, Esq., at Young, Conaway, Stargatt &
Taylor, in Wilmington, represent the Chapter 15 Debtors.

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

GENERAL GROWTH: Incurred $139,515,000 Net Loss in September

                   General Growth Properties, Inc.
                 Consolidated Condensed Balance Sheet
                      As of September 30, 2010

Investment in real estate:
Land                                            $2,903,270,000
Buildings and equipment                         18,906,473,000
Less accumulated depreciation                   (4,111,004,000)
Developments in progress                           367,832,000
    Net property and equipment                   18,066,571,000

Investment in and loans to/from Unconsolidated
Real Estate Affiliates                             382,230,000
Investment property and property held for
development and sale                             1,331,019,000
Investment in controlled non-debtor entities     4,137,580,000
    Net investment in real estate                23,917,400,000

Cash and cash equivalents                           573,761,000
Accounts and notes receivable, net                  307,746,000
Goodwill                                            199,664,000
Deferred expenses, net                              193,676,000
Prepaid expenses and other assets                   587,622,000
  Total assets                                  $25,779,869,000

Liabilities and Equity:
Mortgages, notes and loans payable              $14,344,342,000
Investment in and loans to/from Unconsolidated
Real Estate Affairs                                 33,303,000
Deferred tax liabilities                            835,965,000
Accounts payable and accrued expenses             1,122,337,000
Liabilities not subject to compromise           16,335,947,000
Liabilities subject to compromise                7,836,856,000
Total liabilities                               24,172,803,000

Redeemable noncontrolling interests:
Preferred                                          120,756,000
Common                                             115,117,000
Total redeemable noncontrolling interests          235,873,000

Common stock                                         3,188,000
Additional paid-in capital                       3,750,360,000
Retained earnings (accumulated deficit)         (2,338,454,000)
Accumulated other comprehensive loss                15,126,000
Less common stock in treasury, at cost             (76,752,000)
Total stockholder's equity                       1,353,468,000
Noncontrolling interests in consolidated real
estate affiliates                                   17,725,000
Total equity                                     1,371,193,000
  Total liabilities and equity                  $25,779,869,000

                   General Growth Properties, Inc.
                  Consolidated Statement of Income
               For the Month ended September 30, 2010

Minimum rents                                     $134,229,000
Tenant recoveries                                   60,564,000
Overage rents                                        3,632,000
Land sales                                           3,799,000
Management fees and other corporate revenues           937,000
Other                                                4,614,000
  Total revenues                                    207,775,000
Real estate taxes                                   19,968,000
Property maintenance costs                           7,429,000
Marketing                                            2,062,000
Ground and other rents                               1,378,000
Other property operating costs                      34,341,000
Land sales operations                                4,124,000
Provision for doubtful accounts                      1,567,000
Property management and other costs                  9,715,000
General and administrative                           2,309,000
Provisions for impairment                            4,516,000
Depreciation and amortization                       48,280,000
  Total expenses                                    135,689,000
Operating income (loss)                              72,086,000

Interest (expense) income, net                     (176,830,000)
Loss before income taxes, noncontrolling
interests, equity in income of Unconsolidated
Real Estate Affiliates and reorganization
items                                             (104,744,000)
Benefit (provision) for income taxes                 (6,856,000)
Equity in income of Unconsolidated Real Estate
Affiliates                                          13,457,000
Reorganization items                                (42,915,000)
Net loss                                           (141,058,000)
Allocation to noncontrolling interests                1,543,000
Net (loss) income attributable to common
stockholders                                     ($139,515,000)

The Debtors disclosed that for the month ended September 30, 2010,
they paid a total of $7,505,000 to about 29 bankruptcy
professionals, with $3,094,000 going to Weil, Gotshal & Manges
LLP, as the Debtors' lead counsel.

A full-text copy of the September 2010 MOR is available for free

                      About General Growth

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

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

General Growth Properties on November 9, 2010, successfully
completed the final steps of its financial restructuring and
emerged from Chapter 11.  GGP successfully restructured
approximately $15 billion of project-level debt Recapitalized with
$6.8 billion in new equity capital Paid all creditor claims in
full achieved substantial recovery for equity holders.

As part of its plan of reorganization, GGP has split itself into
two separate and independent publicly traded corporations. GGP
shareholders as of the record date of November 1, 2010 received
common stock in both companies.  The new GGP, which will commence
trading November 10 on The New York Stock Exchange under the
ticker symbol "GGP," is the second-largest shopping mall owner and
operator in the country, with more than 183 regional malls in 43
states.  The spin-off company, The Howard Hughes Corporation,
consists of GGP's portfolio of master planned communities and
other strategic real estate development opportunities.  This
company will trade under the ticker symbol "HHC" on The New York
Stock Exchange.

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

INNKEEPERS USA: Has $2.53 Million September Operating Income
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Innkeepers USA Trust, a real estate investment trust,
filed an operating report showing $24.6 million in revenue during
September.  Operating income of $2.53 million turned into a net
loss of $4.41 million after $6.8 million of reorganization

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

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

JEVIC TRANSPORTATION: Posts $266,545 Net Loss in August
Jevic Transportation, Inc., reported a net loss of $266,545 for
the month ended August 31, 2010.

At August 31, 2010, the Debtor had total assets of $409,534, total
liabilities of $12.2 million, and a stockholders' deficit of
$11.8 million.  The Debtor ended the period with $347,071 in cash,
which includes restricted cash of $66,977.

A full-text copy of the Debtor's monthly operating report for the
month ended August 31, 2010, is available at no charge at:

                    About Jevic Transportation

Based in Delanco, New Jersey, Jevic Transportation Inc. -- provided trucking services.  Two
affiliates -- Jevic Holding Corp. and Creek Road Properties --
have no assets or operations.  The three Debtors sought Chapter 11
protection (Bankr. D. Del. Case No. 08-11008) on May 20, 2008.
Domenic E. Pacitti, Esq., and Michael W. Yurkewicz, Esq., at Klehr
Harrison Harvey Branzburg & Ellers, in Wilmington, Del., represent
the Debtors.  The U.S. Trustee for Region 3 has appointed five
creditors to serve on an Official Committee of Unsecured
Creditors.  Robert J. Feinstein, Esq., Bruce Grohsgal, Esq., and
Maria A. Bove, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Del., represent the Official Committee of Unsecured

Before filing for bankruptcy, the Debtors initiated an orderly
wind-down process.  As a part of the wind-down process, the
Debtors ceased substantially all of their business and
terminated approximately 90% of their employees.  The Debtors
continue to manage the wind-down process in an attempt to
deliver all freight in their system and to retrieve their

When the Debtors sought protection from their creditors, they
estimated assets and debts between $50 million and $100 million.

POINT BLANK: Reports $2.3 Million Net Loss in August
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Point Blank Solutions Inc. reported a $2.3 million
net loss in August on net sales of $20.6 million.  The operating
loss for the month before non-recurring expenses was
$1.95 million.

                         About Point Blank

Headquartered in Pompano Beach, Florida, Point Blank Solutions,
Inc. -- designs and
produces body armor systems for the U.S. Military, Government and
law enforcement agencies, as well as select international markets.
The Company maintains facilities in Pompano Beach, Florida, and
Jacksboro, Tennessee.

The Company's former chief executive officer and chief operating
officer were convicted in September 2010 of orchestrating a
$185 million fraud.

Point Blank Solutions, formerly DHB Industries, filed for
Chapter 11 protection on April 14, 2010 (Bankr. D. Del. Case No.
10-11255).  Laura Davis Jones, Esq., and Timothy P. Cairns, Esq.,
at Pachulski Stang Ziehl & Jones LLP, serve as bankruptcy counsel
to the Debtor.  Olshan Grundman Frome Rosenweig & Wolosky LLP
serves as corporate counsel.  T. Scott Avila of CRG Partners Group
LLC is the restructuring officer.  Epiq Bankruptcy Solutions
serves as claims and notice agent.

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Equity Security
Holders in the case.  The Equity Committee has tapped Morrison
Cohen LLP, and The Bayard, P.A., as counsel.  Robert M. Hirsh,
Esq., and Heike M. Vogel, Esq., at Arent Fox LLP, serve as counsel
to the Creditors Committee, and Frederick B. Rosner, Esq., and
Brian L. Arban, Esq., at Messana Rosner & Stern LLP, serve as co-

SCHUTT SPORTS: Reports $989,000 September Operating Loss
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Schutt Sports Inc. reported a $989,000 loss from
operations during September on revenue of $3 million.  The net
loss was $1.64 million.  During September, Schutt paid a $350,000
fee for its reorganization loan.

                       About Schutt Sports

Headquartered in Litchfield, Illinois, Schutt Sports, Inc. -- fka
Schutt Manufacturing Company, Schutt Sports Manufacturing Co.,
Schutt Sports Distribution Company, and Schutt Athletic Sales
Company -- and its affiliates manufacture team sporting equipment,
primarily for football, baseball and softball.

Schutt Sports filed for Chapter 11 bankruptcy protection on
September 6, 2010 (Bankr. D. Del. Case No. 10-12795).  The Company
was forced into Chapter 11 by a $29 million patent-infringement
judgment in favor of competitor Riddell Inc.

Victoria Watson Counihan, Esq., at Greenberg Traurig, LLP, assists
the Debtor in its restructuring effort.  Ernst & Young is the
Debtor's financial advisor.  Oppenheimer & Co., Inc., is the
Debtor's investment banker. The Official Committee of Unsecured
Creditors tapped Lowenstein Sandler PC as its counsel.

The Debtor estimated is assets and debts at $50 million to
$100 million as of the Petition Date.


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Troubled Company Reporter is a daily newsletter co-published
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