TCR_Public/101115.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, November 15, 2010, Vol. 14, No. 317

                            Headlines

ABITIBIBOWATER INC: Proposes to Send Unit Into Bankruptcy
AEROFLEX INC: S&P Puts 'B' Rating on CreditWatch Positive
AFC ENTERPRISES: Posts $5.9-Mil. Profit in Third Quarter
AGRI-BEST HOLDINGS: Selling Choice Strip Steak for $4.25 a Pound
ALL AMERICAN: Reaches Merger Deal With H.I.G. Affiliates

ALLY FINANCIAL: Has $2.1-Bil. Exposure to ResCap at Sept. 30
AMERICA'S SUPPLIERS: Posts $183,774 Net Income for Q3 2010
AMERICAN HOME: Gets $5.5 Million from Waterfield Settlement
AMERICANWEST BANCORP: Files Form 10-Q: Posts $5.9 Million Net Loss
ARIAD PHARMA: Posts $20.4 Million Net Loss in Q3 2010

ASHLAND INC: Moody's Gives Positive Outlook, Affirms 'Ba1' Rating
ASSOCIATED ESTATES: S&P Raises Corporate Credit Rating to 'BB'
AVANTAIR INC: Posts $5.2 Million Net Loss in September 30 Quarter
AXESSTEL INC: Posts $1.1 Million Net Loss in September 30 Quarter
B-SCT2, LLC: Voluntary Chapter 11 Case Summary

BANK OF AMERICA: Wants RICO Foreclosure Class Action Tossed
BERNARD L MADOFF: Trustee Seeks $70 Million From Former Employees
BIG BLACK: Case Summary & 20 Largest Unsecured Creditors
BIO-KEY INT'L: Reports $742,824 Operating Loss in Third Quarter
BLUEGREEN CORP: Posts $16-Mil. Net Loss in Sept. 30 Quarter

BUFFALO THUNDER: Bondholders Agree to Restructure Casino Debt
CALIFORNIA COASTAL: Posts $12.2 Million Net Loss in Q3 2010
CARL MASHBURN: Case Summary & 8 Largest Unsecured Creditors
CASCADE BANCORP: Securities Purchase Pacts Extended to Nov. 5
CASCADE BANCORP: Extends Securities Purchase Pacts until Nov. 12

CHARLES HWANG: Case Summary & 20 Largest Unsecured Creditors
CHEMTURA CORP: To Pay $3 Million for Cleanup of Calif. Sites
CINRAM INTERNATIONAL: Bank Debt Trades at 22% Off in Market
CIRCUIT CITY: Files Liquidating Trust Pact; 4 Directors Resign
CISTERA NETWORKS: Earns $142,300 in September 30 Quarter

CLARK CONTRACTING: District Court Upholds Assignee's Lien
CLEAR CHANNEL: Bank Debt Trades at 19% Off in Secondary Market
COGECO CABLE: S&P Assigns Rating to Senior Secured Debentures
COMMERCE PARK ASSOC. 2: Agrees with U.S. Trustee on Dismissal
COMMERCE PARK ASSOC. 6: Agrees with U.S. Trustee on Dismissal

CONVERSION SERVICES: Posts $314,774 Net Loss in September 30 Qtr.
COPPER STAR BANK: Closed; Stearns Bank Assumes All Deposits
CREDIT-BASED ASSET: Files for Chapter 11 in Manhattan
CREDIT-BASED ASSET: Case Summary & 29 Largest Unsecured Creditors
CROWN MEDIA: Earns $5.9 Million in September 30 Quarter

CRYOPORT INC: Amends Master Consulting, Engineering Services Pact
CYNERGY DATA: Wins Approval of Disclosure Statement
CYTEC INDUSTRIES: Moody's Upgrades Ratings on Senior Debt
DANIEL KELLY: Case Summary & 20 Largest Unsecured Creditors
DARA BIOSCIENCES: NASDAQ Grants Request for Continued Listing

DARBY BANK & TRUST CO: Closed; Ameris Bank Assumes All Deposits
DAVID KELLY: Case Summary & 20 Largest Unsecured Creditors
DELTA MUTUAL: Delays Filing of Form 10-Q for Third Quarter
DEUCE INVESTMENTS: Confirmation Hearing Continued Until Dec. 15
DEX MEDIA EAST: Bank Debt Trades at 18% Off in Secondary Market

DIAMOND DECISIONS: Ch.11 Trustee Okayed to Sell Assets for $1.3MM
DORMITORY AUTHORITY: Fitch Affirms 'BB+' Rating to $260 Mil. Bonds
DUNE ENERGY: Posts $9 Million Net Loss in September 30 Quarter
DURABLA CANADA: Case Summary & 10 Largest Unsecured Creditors
ELKINS PROPERTIES: Case Summary & 4 Largest Unsecured Creditors

EMMIS COMMUNICATIONS: Moody's Affirms 'Caa2' Corp. Family Rating
EMISPHERE TECHNOLOGIES: Posts $9.6MM Net Income in Third Quarter
ENERGYCONNECT GROUP: Inks Indemnificatioin Pact with Aequitas
ENERGYCONNECT GROUP: Gets $4 Million Revolver from SVB
ERNIE JACOBSEN: Court Extends Plan Filing Period Until Dec. 20

FAIRPOINT COMMS: Bank Debt Trades at 34% Off in Secondary Market
FAMOUS RECIPE: Case Summary & 20 Largest Unsecured Creditors
FAMOUS RECIPE: Tax & Lease Issues Cue Chapter 11 Bankruptcy Filing
FREESCALE SEMICON: Bank Debt Trades at 5% Off in Secondary Market
FRENCH BROAD: Court Denies Motion to Dismiss or Convert Case

FRENCH BROAD: Hearing on Adequacy of Plan Outline Set for Dec. 7
GARY LOGAN: Case Summary & 20 Largest Unsecured Creditors
GLOBAL CROSSING: $150-Mil. Sr. Notes to Have Issue Price of 100%
GLOUCESTER ENGINEERING: Regains Control of European Subsidiary
GUITAR CENTER: Bank Debt Trades at 8% Off in Secondary Market

GULFSTREAM INT'L: Judge Approves DIP Loan & Cash Collateral
HALLWOOD ENERGY: D. Brickley Sues J. Aron for Fraudulent Transfer
HEALTHSOUTH CORP: Discusses Outlook for 2010 to 2013
HERBST GAMING: Bank Debt Trades at 43% Off in Secondary Market
HF THREE: Files List of 20 Largest Unsecured Creditors

HF THREE: Files Schedules of Assets and Liabilities
HIGHLANDS OF LOS GATOS: Plan Outline Hearing Set for December 14
I/OMAGIC INC: Posts $99,002 Net Loss in September 30 Quarter
INNATECH LLC: Court Approves Conversion to Chapter 7
INTERNATIONAL GARDEN: Gets Final Approval of $7.5 Million Loan

KELLY FARMS: Case Summary & 20 Largest Unsecured Creditors
KILEY RANCH: Wants Until Dec. 24 to Excercise Option Agreement
KRISPY KREME: 24 Store Closure Cues Moody's 'B3' Rating
LAS VEGAS SANDS: Bank Debt Trades at 6% Off in Secondary Market
LAS VEGAS SANDS: Bank Debt Trades at 4% Off in Secondary Market

L.B. BRYANT: Chapter 11 Plan Feasible Despite Operating Losses
LOCAL INSIGHT: Bank Debt Trades at 42% Off in Secondary Market
LIONCREST TOWERS: Wins Nod for Robbins Salomon as Counsel
LIONCREST TOWERS: Files New Schedules of Assets & Debts
LOEHMANN'S CAPITAL: Forbearance to Expire November 19

LPATH INC: Swings to $2.955 Million Net Loss for Q3 2010
M & J GENERAL: Case Summary & 20 Largest Unsecured Creditors
MANDERS DAIRY: Case Summary & 20 Largest Unsecured Creditors
MARINER ENERGY: S&P Raises Corporate Credit Rating From 'B+'
MARSICO PARENT: Closes $600 Million Subordinate Notes' Swap

MARSICO PARENT: S&P Downgrades Counterparty Credit Ratings to 'SD'
MARVKY CORP: Hearing on Use of Fannie Cash Collateral Dec. 7
MESA AIR: Reorganization Plan Is Unclear, Creditors Say
METRO-GOLDWYN-MAYER: Bank Debt Trades at 54% Off in Market
MICHAEL BOWERS, SR.: Case Summary & 20 Largest Unsecured Creditors

MIDDLEBROOK PHARMA: Files Plan; Unsecureds to be Paid in Full
MISSION REAL: Court Fixes December 1 as Claims Bar Date
MISSION REAL: Plan Filing Period Extended to November 11
MT ZION: Plan Confirmation Hearing Continued Until December 2
NARESH MAGO: Case Summary & 20 Largest Unsecured Creditors

NORTEK INC: S&P Assigns Corporate Credit Rating at 'B'
NOVASTAR FINANCIAL: Earns $3.33 Million in September 30 Quarter
PARAMOUNT RESOURCES: To Sell About 1 Million Class A Common Shares
PFF BANCORP: Settles PBGC Claims, Allows Committee to Sue
PFF BANCORP: Hearing on Committee Plea to Sue on Nov. 22

PHARMOS CORPORATION: Posts $470,300 Net Loss in Q3 2010
POLYPORE INTERNATIONAL: Moody's Assigns 'B3' Rating to New Notes
POLYPORE INTERNATIONAL: S&P Affirms 'B' Corporate Credit Rating
RACE POINT: Moody's Assigns 'Ba2' Rating to $370 Mil. Loan
RADIAN GROUP: Moody's Upgrades Senior Unsec. Debt Rating to 'B3'

RADIAN GROUP: S&P Assigns 'CCC+' Rating to $450 Mil. Notes
RASER TECHNOLOGIES: Posts $11-Mil. Net Loss in Third Quarter
REALOGY CORP: Bank Debt Trades at 7% Off in Secondary Market
REALOGY CORP: Posts $33 Million Net Loss in September 30 Quarter
REBECCA KELLY: Case Summary & 19 Largest Unsecured Creditors

REDDY ICE: Officers Establish 10b5-1 Trading Plan
RICK BROWN: Case Summary & 20 Largest Unsecured Creditors
RIVANNA PLAZA: Case Summary & 7 Largest Unsecured Creditors
RIVIERA HOLDINGS: Posts $6.9 Million Net Loss in Q3 2010
ROTECH HEALTHCARE: Earns $2.52 Million in September 30 Quarter

ROUSE COMPANY: Moody's Withdraws 'C' Rating on Senior Debt
RURAL/METRO OPERATING: S&P Assigns 'B+' Ratings to $345 Mil. Loan
SANDRIDGE ENERGY: S&P Gives Negative Outlook, Affirms 'B+' Rating
SBARRO INC: Posts $5.7 Million Net Loss in September 26 Quarter
SEITEL INC: Posts $46.1 Million Net Loss in September 30 Quarter

SEMGROUP ENERGY: Posts $2.8 Million Net Loss in September 30 Qtr.
SEXTANT STRATEGIC GLOBAL: Chapter 15 Case Summary
SEXTANT STRATEGIC HYBRID2HEDGE: Chapter 15 Case Summary
SOMERSET PROPERTIES: Case Summary & 20 Largest Unsecured Creditors
STEVE PAIGE: District Court Affirms Plan Confirmation

TAYLOR BEAN: Schedules Jan. 19 Plan Confirmation Hearing
TERREMARK WORLDWIDE: Moody's Puts 'Caa1' Rating on $75 Mil. Notes
THERMADYNE HOLDINGS: Moody's Puts 'B3' Rating on $250 Mil. Notes
THERMADYNE HOLDINGS: S&P Raises Corporate Credit Rating to 'B'
TIFTON BANKING COMPANY: Closed; Ameris Bank Assumes All Deposits

TODD FAMILY: Involuntary Chapter 11 Case Summary
TRANS-LUX CORP: Not Successful in NYSE AMEX Delisting Appeal
TRICO MARINE: Gets Notice of Termination of Use of Cash Collateral
TRICO MARINE: Seeks Injunctive Relief Against DIP Lender
TW TELECOM: Moody's Gives Positive Outlook; Affirms 'B1' Rating

TW TELECOM: S&P Assigns 'B+' Rating to $80 Mil. Senior Loan
UNITRIN INC: Moody's Assigns 'Ba2' Rating to Preferred Shelf
UNIVISION COMMUNICATIONS: Fitch Puts 'CCC/RR6' Rating on Notes
USG CORP: Discloses Pricing of Offering of 8.375% Sr. Notes
VISHAY INTERTECHNOLOGY: S&P Assigns 'BB' Rating to $275 Mil. Notes

WEST END: Case Summary & 3 Largest Unsecured Creditors
WEST PENN: Case Summary & 20 Largest Unsecured Creditors
WOLF CREEK: Can Obtain $350,000 to Fund its Business Operations
WOLF CREEK: Can Sell GMC Sierra Truck to Jeff Wilhelmsen
WOLF CREEK: Promises Unsecured Creditors to Recover 67% of Claims

WORKFLOW MANAGEMENT: Files Revised Plan with Full Payment for All

* Year's Total Bank Failures Now at 146
* S&P's List of Year's Global Corporate Defaults Now at 74

* BOND PRICING -- For Week From November 8 to 12, 2010

                            *********

ABITIBIBOWATER INC: Proposes to Send Unit Into Bankruptcy
---------------------------------------------------------
Bankruptcy Law360 reports that AbitibiBowater Inc. on Friday
proposed sending its subsidiary, Bowater Canada Finance Corp.,
into bankruptcy protection in Canada to break an impasse in
negotiations over confirmation of the company's Chapter 11 plan.

                      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
magazines.

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

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

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

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

AbitibiBowater Inc.'s consolidated balance sheet at June 30, 2010,
showed $6.649 billion in total assets, $9.437 billion in total
liabilities, and a stockholders' deficit of $2.788 billion.


AEROFLEX INC: S&P Puts 'B' Rating on CreditWatch Positive
---------------------------------------------------------
Standard & Poor's Ratings Services said it placed all its ratings
on Plainview, New York-based Aeroflex Inc., including the 'B'
corporate rating, on CreditWatch with positive implications.

"S&P views the proposed debt reduction, from the IPO proceeds as
well as Aeroflex's current expected operating trajectory as a
positive for credit metrics," said Standard & Poor's credit
analyst Joseph Spence.  In line with higher revenues and
profitability, the company's latest-12-month adjusted debt to
EBITDA improved sequentially a half-turn to the high-5x area as of
the September 2010 quarter from the high-7x area during the trough
of the downturn in the September 2009 quarter.  S&P expects
adjusted debt to EBITDA to improve further, upon the successful
completion of its IPO as the company has stated it will use at
lease $175 million of the proceeds to redeem a portion of its
$225 million in 11.75% senior notes, as well as prepay a portion
of its approximately $168 million in senior subordinated unsecured
term loans.  The company will use the remainder of the proceeds
for general corporate purposes and other fees.

Standard & Poor's will monitor the progress of the IPO and the
ultimate use of proceeds, as well as assess Aeroflex's business
prospects in determining the rating outcome.  Any upgrade would
likely be limited to one notch.


AFC ENTERPRISES: Posts $5.9-Mil. Profit in Third Quarter
--------------------------------------------------------
AFC Enterprises Inc. reported results for third quarter and third
quarter year-to-date 2010 which ended October 3, 2010.  The
Company also raised earnings guidance for fiscal 2010 and provided
a business update on its Strategic Plan.

Reported net income was $5.9 million, or $0.23 per diluted share,
compared to $0.13 per diluted share last year.  Adjusted earnings
per diluted share were $0.23, compared to $0.18 last year.  Year-
to-date, adjusted earnings per diluted share were $0.68 compared
to $0.57 last year.  Adjusted earnings per diluted share is a
supplemental non-GAAP measure of performance.

The Company's balance sheet at Sept. 30, 2010, showed
$118.0 million in total assets, $30.3 million in total current
liabilities, $84.7 million in total long-term liabilities, and
stockholder's equity of $3.0 million

AFC Enterprises Chief Executive Officer Cheryl Bachelder stated,
"We are delighted with our third quarter earnings performance
which was driven by strong positive same-store sales.  During the
third quarter, we announced Popeyes beat KFC in a U.S. taste test
between Popeyes spicy and mild bone-in fried chicken and KFC's
Original Recipe bone-in fried chicken.  We declared what we have
always known, that Popeyes chicken simply tastes better.  This
national campaign was one of our most successful ever.  I am proud
of our management team and the Popeyes system for these results
that continue to steadily outperform our competitors."

A full-text copy of the earnings release is available for free
at http://ResearchArchives.com/t/s?6e4a

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6e4b

                       About AFC Enterprises

Atlanta, Georgia-based AFC Enterprises, Inc. (NASDAQ: AFCE) --
http://www.afce.com/-- is the franchisor and operator of
Popeyes(R) restaurants, the world's second-largest quick-service
chicken concept based on number of units.  As of April 2010,
Popeyes had 1,944 operating restaurants in the United States,
Puerto Rico, Guam and 27 foreign countries.

                          *     *     *

AFC carries a 'B1' corporate family rating from Moody's Investors
Service and 'B+' issuer credit ratings from Standard & Poor's.


AGRI-BEST HOLDINGS: Selling Choice Strip Steak for $4.25 a Pound
----------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Agri-Best Holdings LLC was authorized to sell 200,000
pounds of choice strip steak to RCH Enterprises Inc. for $4.25 a
pound.

Mr. Rochelle adds that the Company filed a motion to sell the
remaining 50,000 pounds of choice strip in inventory to the same
buyer for the same price, unless a better offer turns up before
the sale-approval hearing on Nov. 17.

Agri-Best, according to Mr. Rochelle, this week also received
final approval for $1 million in financing from secured lender
Wells Fargo Bank NA.

                          About Agri-Best

Chicago, Illinois-based Agri-Best Holdings LLC, dba Protein
Solutions and Agri-Best Properties, LLC, processes and distributes
portion control meat products to national restaurant chains, food
distributors, and consumers.

Agri-Best filed for Chapter 11 bankruptcy protection on October 5,
2010 (Bankr. N.D. Ill. Lead Case No. 10-44595).  Agri-Best
estimated its assets and debts at $10 million to $50 million as of
the Petition Date.

Chicago, Illinois-based Agri-Best Properties LLC filed for
Chapter 11 bankruptcy protection on October 5, 2010 (Bankr. N.D.
Ill. Case No. 10-44600).  Steven B. Towbin, Esq., at Shaw Gussis,
Fishman Glantz, Wolfson & Towbin, LLC, assists Agri-Best
Properties in its restructuring effort.  Agri-Best Properties
estimated its assets and debts at $1 million to $10 million.


ALL AMERICAN: Reaches Merger Deal With H.I.G. Affiliates
--------------------------------------------------------
On November 8, 2010, All American Group Inc. entered into an
Agreement and Plan of Merger with All American Group Holdings LLC
and All American Acquisition Corporation, affiliates of H.I.G. All
American LLC.  The merger will result in AAG's shareholders
receiving $0.20 per share, plus an interest in a liquidating trust
that will have a contingent right to receive proceeds from the
sale of AAG's specialty vehicle business.

Upon closing of the merger, AAG's specialty vehicle business will
be offered for sale for a minimum price of $12 million.  The sale
of the assets will be negotiated on behalf of AAG by a special
committee of AAG's board of directors.  The majority of the
members of the committee will be directors who are not affiliated
with H.I.G.

If an agreement is entered into for the sale of the specialty
vehicle business within nine months after the closing of the
merger, the excess of the net sale proceeds over $5 million will
be deposited in the liquidating trust for distribution to the
former AAG shareholders pro rata.  AAG cannot give assurance that
the sale of the assets will be completed within the 9 months' time
frame or that it will bring a sufficient amount of net sale
proceeds to provide the shareholders any additional consideration.

A full-text copy of the Plan of Merger is available for free
at http://ResearchArchives.com/t/s?6e47

                     About All American Group

Elkhart, Indiana-based All American Group, Inc., formerly Coachmen
Industries, Inc., (OTC:COHM.PK) says it is one of America's
premier systems-built construction companies under the ALL
AMERICAN BUILDING SYSTEMS(R), ALL AMERICAN HOMES(R), and MOD-U-
KRAF(R) brands, as well as a manufacturer of specialty vehicles.

At June 30, 2010, the Company had total assets of $81.310 million,
total liabilities of $48.104 million, and shareholders' equity of
$33.206 million.

During the first quarter of 2010, the Company failed to meet
certain financial covenants of the credit agreement with H.I.G.
All American LLC.  H.I.G. did not declare the Company to be in
default of any covenant and on April 5, 2010, the Company and
H.I.G. entered into the First Amendment to the Loan Agreement.
H.I.G. waived specified Events of Default that had occurred under
the Loan Agreement dated October 27, 2009 between the Company and
H.I.G. prior to April 5, 2010.

The Company said in its Form 10-Q report for the second quarter of
2010, that operating results for the six month period ended June
30, 2010, failed to meet the revised debt covenants set with
H.I.G. in the First Amendment to the Loan Agreement.  H.I.G. has
waived the covenant defaults through July 31, 2010 in exchange for
a waiver fee and expenses of $800,000 representing the value of
the penalties prescribed in the First Amendment, plus expenses,
and the issuance on August 24, 2010 of the Second Amended and
Restated Tranche B Note.  The Second Amendment provides that the
waiver fee and expenses, plus accrued interest on the convertible
debt thru August 24, 2010 of $800,000, be added to the principal
amount of the convertible note.  As a result of the Second
Amendment, the Tranche B Note has a face value of $12.5 million.

The Board of Directors and H.I.G. are currently in discussions to
work out mutually acceptable agreements for the long-term.  Since
the Company cannot be assured it will be in compliance with the
existing covenants after July 31, 2010 and discussions with H.I.G.
regarding revised covenants are continuing.

                           *     *     *

McGladrey & Pullen LLP, in Elkhart, Indiana, expressed substantial
doubt about the Company's ability to continue as a going concern
following the Company's 2009 results.  The auditors noted that
Coachmen has suffered recurring losses from operations and
continues to operate in an industry where economic recovery has
been very slow.


ALLY FINANCIAL: Has $2.1-Bil. Exposure to ResCap at Sept. 30
------------------------------------------------------------
Ally Financial Inc. disclosed in a regulatory filing that at
September 30, 2010, it had approximately $2.1 billion in secured
financing arrangements with its Residential Capital LLC unit of
which approximately $1.3 billion in loans was utilized.

Ally acknowledged the extensive financing and hedging arrangements
with ResCap could be at risk of nonpayment if ResCap were to file
for bankruptcy.

Amounts outstanding under the secured financing and hedging
arrangements fluctuate.  If ResCap were to file for bankruptcy,
ResCap's repayments of its financing facilities, including those
with Ally, could be slower.  In addition, Ally could be an
unsecured creditor of ResCap to the extent that the proceeds from
the sale of Ally's collateral are insufficient to repay ResCap's
obligations to Ally.

Ally also said it is possible that other ResCap creditors would
seek to recharacterize its loans to ResCap as equity contributions
or to seek equitable subordination of Ally's claims so that the
claims of other creditors would have priority over Ally's claims.
In addition, should ResCap file for bankruptcy, Ally said its
$859 million investment related to ResCap's equity position would
likely be reduced to zero.  If a ResCap bankruptcy were to occur
and a substantial amount of Ally's credit exposure is not repaid,
it would have an adverse impact on Ally's near-term net income and
capital position, but Ally does not believe it would have a
materially adverse impact on its own consolidated financial
position over the longer term.

As reported by the Troubled Company Reporter on November 9, 2010,
Ally posted net income of $269 million for the third quarter of
2010, compared to a net loss of $767 million for the third quarter
of 2009.  The Company recorded $2.051 billion of net revenue for
the quarter ended Sept. 30, 2010, compared with $1.986 billion in
the same period in 2009.

Ally's balance sheet at Sept. 30, 2010, showed $173.191 billion
in total assets, $152.214 billion in total liabilities, and
$20.977 billion in total equity.

A full-text copy of Ally's Form 10-Q report for the third quarter
is available for free at http://ResearchArchives.com/t/s?6e3d

                        About Ally Financial

Ally Financial Inc., formerly GMAC Inc., -- http://www.ally.com/
-- is one of the world's largest automotive financial services
companies.  The company offers a full suite of automotive
financing products and services in key markets around the world.
Ally's other business units include mortgage operations and
commercial finance, and the company's subsidiary, Ally Bank,
offers online retail banking products.  Ally operates as a bank
holding company.

GMAC obtained a $17 billion bailout from the U.S. government in
exchange for a 56.3% stake.  Private equity firm Cerberus Capital
Management LP keeps 14.9%, while General Motors Co. owns 6.7%.

The Company has tapped Goldman Sachs Group Inc. and Citigroup Inc.
to advise on a range of issues, including strategic alternatives
for the mortgage business and repayment of taxpayer funds.

Ally Financial carries "C" short term issuer credit ratings, and
"B" long term issuer credit ratings, all with stable outlook, from
Standard & Poor's.  It has a "B3" issuer rating, with stable
outlook, from Moody's.  It has a "B" issuer default rating, with
positive outlook, from Fitch.


AMERICA'S SUPPLIERS: Posts $183,774 Net Income for Q3 2010
----------------------------------------------------------
America's Suppliers, Inc., said net income attributable to the
Company was $183,774 for the three months ended September 30,
2010, from net income of $12,461 for the same period a year ago.
Net income attributable to America's Suppliers was $219,509 for
the nine months ended September 30, 2010, from a net loss of
$139,233 for the year-ago period.

America's Suppliers reported net revenues of $4,542,949 for the
2010 third quarter from $3,551,417 for the year-ago period.  It
reported advertising revenue of $55,356 for the third quarter 2010
from $51,273 a year ago.

America's Suppliers posted net revenues of $11,300,347 for the
first three quarters of 2010 from $9,266,244 last year.
Advertising revenues were $168,080 for the first three quarters
this year from $149,095 last year.

At September 30, 2010, the Company had total assets of $2,003,445,
including total current assets of $1,504,154; total liabilities,
all current, of $2,110,541; and total deficit of $107,096.

A full-text copy of the Company's Form 10-Q report is available at
no charge at http://ResearchArchives.com/t/s?6e3b

Scottsdale, Ariz.-based Americas Suppliers, Inc. develops software
programs that allow the Company to provide general merchandise for
resale to businesses.  DollarDays International, Inc., the
Company's wholly owned subsidiary, is an Internet based wholesaler
of general merchandise to small independent resellers through its
website http://www.DollarDays.com/. Orders are placed by
customers through the website where, upon successful payment, the
merchandise is shipped directly from the vendors' warehouses.

As reported in the Troubled Company Reporter on March 26, 2010,
MaloneBailey, LLP, in Houston, expressed substantial doubt about
the Company's ability to continue as a going concern following the
Company's 2009 results.  The independent auditors noted that
Company has suffered an accumulated deficit of $6,949,006 as of
December 31, 2009.


AMERICAN HOME: Gets $5.5 Million from Waterfield Settlement
-----------------------------------------------------------
Bankruptcy Law360 reports that Judge Christopher S. Sontchi of the
U.S. Bankruptcy Court for the District of Delaware has approved a
settlement that gives American Home Mortgage Holdings Inc. just
$5.5 million from a $55 million escrow account tied to the
Company's 2006 acquisition of rival Waterfield Financial Corp.

                        About American Home

Based in Melville, New York, American Home Mortgage Investment
Corp. (NYSE: AHM) -- http://www.americanhm.com/-- was a mortgage
real estate investment trust engaged in the business of investing
in mortgage-backed securities and mortgage loans resulting from
the securitization of residential mortgage loans originated and
serviced by its subsidiaries.

American Home Mortgage and seven affiliates filed for Chapter 11
protection on August 6, 2007 (Bankr. D. Del. Case Nos. 07-11047
through 07-11054).  James L. Patton, Jr., Esq., Joel A. Waite,
Esq., and Pauline K. Morgan, Esq. at Young, Conaway, Stargatt &
Taylor LLP represent the Debtors.  Epiq Bankruptcy Solutions LLC
acts as the Debtors' claims and noticing agent.  The Official
Committee of Unsecured Creditors selected Hahn & Hessen LLP as
its counsel.  As of March 31, 2007, American Home Mortgage's
balance sheet showed total assets of $20,553,935,000, total
liabilities of $19,330,191,000.

American Home filed a de-consolidated plan of liquidation on
August 15, 2008.  The former home mortgage lender's liquidating
Chapter 11 plan was confirmed in February 2009.


AMERICANWEST BANCORP: Files Form 10-Q: Posts $5.9 Million Net Loss
------------------------------------------------------------------
AmericanWest Bancorporation filed its quarterly report on Form
10-Q, reporting of $5.9 million on $12.5 million of net interest
income (before loan loss provision) for the three months ended
September 30, 2010, compared with a net loss of $28.4 million on
$14.4 million of net interest income (before loan loss provision)
for the same period of 2009.

The Company recognized a provision for loan losses of
$3.5 million, or 1.24% of average loans on an annualized basis,
for the three months ended September 30, 2010, as compared to
$9.0 million, or 2.48% of average loans annualized, for the three
months ended September 30, 2009.

The Company's balance sheet at September 30, 2010, showed
$1.536 billion in total assets, $1.538 billion in total
liabilities, and a stockholders' deficit of $1.8 million.

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

               http://researcharchives.com/t/s?6e4f

                 About AmericanWest Bancorporation

Headquartered in Spokane, Washington, AmericanWest Bancorporation
(OTC BB: AWBC) -- http://www.awbank.net/- is a bank holding
company whose principal subsidiary is AmericanWest Bank, which
includes Far West Bank in Utah operating as an integrated division
of AmericanWest Bank.  AmericanWest Bank is a community bank with
58 financial centers located in Washington, Northern Idaho and
Utah.

AmericanWest Bancorporation filed for Chapter 11 protection on
Oct. 28, 2010 (Bankr. E.D. Wash. Case No. 10-06097).  The banking
subsidiary was not including in the Chapter 11 filing.

Christopher M. Alston, Esq., and Dillon E. Jackson, Esq., at
Foster Pepper Shefelman PLLC, in Seattle, Washington, serve as
bankruptcy counsel.

The Debtor estimated assets of $1 million to $10 million and debts
of $10 million to $50 million.  AmericanWest Bancorporation's
estimates exclude its banking unit's assets and debts.  In its
latest Form 10-Q filed with the Securities and Exchange
Commission, AmericanWest Bancorporation reported consolidated
assets -- including its bank unit's -- of $1.536 billion and
consolidated debts of $1.538 billion as of Sept. 30, 2010.


ARIAD PHARMA: Posts $20.4 Million Net Loss in Q3 2010
-----------------------------------------------------
For the quarter ended September 30, 2010, ARIAD Pharmaceuticals,
Inc., reported a net loss of $20.4 million compared to a net loss
of $20.8 million for the same period in 2009.  For the nine-month
period ended September 30, 2010, the Company reported net income
of $115.6 million compared to a net loss of $62.0 million for the
same period in 2009.

Net income for the nine-month period ended September 30, 2010
primarily reflects the positive impact of the Company's
restructured agreement with Merck, entered into in May 2010, for
the development, manufacture and commercialization of
ridaforolimus in oncology, which resulted in the recognition of
$175 million in revenue in the second quarter of 2010.

The Company ended the third quarter of 2010 with cash and cash
equivalents of $59.3 million, compared to $40.4 million at
December 31, 2009.  On October 29, 2010, the Company completed a
public offering of 16 million shares of its common stock for net
proceeds of approximately $57.4 million.  In connection with this
offering, the Company granted the underwriters a 30-day option to
purchase up to 2.4 million shares of its common stock to cover
over-allotments, if any.

The Company expects to end 2010 with cash provided by operations
of approximately $5 million, reflecting the impact of payments
received in connection with executing the restructured agreement
with Merck in May 2010.  With the net proceeds from the October
offering of common stock, the Company expects that its cash and
cash equivalents at December 31, 2010 will be approximately
$102 million.

"Our balance sheet is substantially strengthened, and our cash
position is expected to take us into the second half of 2012,"
said Edward M. Fitzgerald, executive vice president and chief
financial officer of ARIAD.  "This revised guidance does not take
into account the positive impact of any regulatory or sales
milestone payments the Company may receive from Merck related to
ridaforolimus or any payments relating to a potential
collaboration agreement on ponatinib."

As of September 30, 2010, the Company had total assets of $79.723
million, total current liabilities of $16.448 million, long-term
debt and capital lease obligations, net of current portion of
$7.083 million, deferred executive compensation of $2.278 million,
other long-term liabilities of $364,000, and warrant liability of
$18.006 million; and stockholders' equity of $35.544 million.

A full-text copy of the Company's earnings release is available at
no charge at http://ResearchArchives.com/t/s?6e42

A full-text copy of the Company's Form 10-Q report is available at
no charge at http://ResearchArchives.com/t/s?6e41

As reported in the Troubled Company Reporter on March 22, 2010,
Deloitte & Touche LLP, in Boston, expressed substantial doubt
about the Company's ability to continue as a going concern,
following its 2009 results.  The independent auditors noted of the
Company's recurring losses from operations and negative operating
cash flows.

Cambridge, Mass.-based ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA)
focuses on novel, molecularly targeted therapies to treat solid
tumors and hematologic cancers, as well as the spread of primary
tumors to distant sites.  The Company's lead cancer product
candidate, ridaforolimus, is being studied in multiple clinical
trials in patients with various types of cancers.


ASHLAND INC: Moody's Gives Positive Outlook, Affirms 'Ba1' Rating
-----------------------------------------------------------------
Moody's Investors Service moved Ashland Inc.'s rating outlook to
positive from stable and affirmed its existing Ba1 Corporate
Family Rating and existing debt ratings.  The change in outlook
follows Ashland's recent announcement it is selling its
distribution business to TPG Capital in a transaction that is
expected to close in the March 2011 quarter.

Moody's view the sale of the distribution business as a credit
positive for Ashland.  The $930 million selling price represents a
high valuation and expected net proceeds of approximately $825
million will allow the firm to repay debt, fund growth initiatives
and increase financial flexibility.  The company has also stated
that once the distribution business is sold, the remaining four
businesses, which includes its Consumer Markets (Valvoline)
business, are core Ashland business.  Given the Consumer Markets
business has generated approximately one-third the firm's EBITDA
over the past year, retaining this business is expected to support
future cash flow generation.  The sale of the distribution
business will allow management to focus on growing its core
businesses organically and through acquisitions, as well as result
in stronger profit margins and credit metrics that are expected to
be supportive of a higher rating.

The move to a positive outlook reflects the fact that Ashland's
credit metrics have improved over the past two years to investment
grade levels and the sale of the distribution business provides
clarity on the composition of Ashland's business portfolio.
Ashland's Corporate Family Rating could be upgraded to Baa3 (an
investment grade rating) from Ba1 should it successfully sell the
distribution business, demonstrate the ability to pass through raw
material cost increases in order to regain higher profit margins
and sustains those margins in its Water Technologies, Aqualon
Functional Ingredients and Consumer Markets (These businesses
suffered margin erosion in the September 2010 quarter due to
continuing raw material cost increases that were not offset with
higher selling prices in the same quarter), and continue its
margin improvement in the Performance Materials business.
Additionally, Moody's would expect Ashland's financial philosophy
and actions to continue to be consistent with maintaining an
investment grade profile.  Management has publicly stated its goal
of achieving an investment grade rating many times since it took
on debt to finance the Hercules Incorporated acquisition.  Since
the that acquisition, it has reduced borrowings by approximately
$1.4 billion and has stated that it will target a leverage ratio
of less than 2.0x.  Ashland should have the cash resources after
the distribution business sale and free cash flow to support its
stated bolt-on acquisition strategy, without materially weakening
its credit metrics.  The debt obligations under the credit
agreement covering the term loan A and revolving credit facility
are currently secured, but automatically become unsecured once the
company obtains an investment grade rating.

Ashland's Ba1 CFR is supported by very strong credit metrics and
moderate leverage characteristic of a higher rating category, a
diversified portfolio of chemicals businesses, its large size
with a diversified customer base in the US and internationally,
meaningful market shares in certain businesses (e.g., Water
Technologies, Aqualon Functional Ingredients), and operational
and geographic diversity.  Moody's expect that Ashland will
maintain its conservative stance; it has achieved approximately
$1.4 billion in balance sheet debt reduction since the Hercules
acquisition, while maintaining strong liquidity.  Ashland has
indicated that it intends to focus on expanding its specialty
chemicals businesses and global earnings, which, if achieved, will
further smooth its earnings base and increase margins.

The CFR also reflects significant asbestos-related litigation and
environmental liabilities from both the Ashland legacy businesses
and the Hercules businesses.  Ashland's current rating is lower
than 2009 financial metrics would support due to low historical
EBITDA margins (partly a function of its large distribution
business), volatile raw material costs, expectations that margins
for the Consumer Markets business may decline, inconsistent
performance across different business segments during the global
economic slowdown in 2008-2009, as well as the lack of historical
stable free cash flows.

Ashland, headquartered in Covington, Kentucky, is a manufacturer
of specialty chemicals (with a focus on performance materials and
water technologies), a distributor of chemicals and plastics, and,
through its Valvoline brand, a marketer of premium-branded
automotive and commercial lubricants.  Ashland had revenue of
$9.2 billion for the twelve months ended September 30, 2010
($3.4 billion or 37% of revenues, but only 10% of EBITDA was
generated by its distribution business).


ASSOCIATED ESTATES: S&P Raises Corporate Credit Rating to 'BB'
--------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Associated Estates Realty Corp. to 'BB' from 'BB-'.  The
outlook remains positive.

"S&P's upgrade of Associated reflects improvement in the REIT's
financial risk profile following a sizeable equity offering and
modest reduction in debt, said credit analyst Eugene Nusinzon.
"S&P views Associated's financial risk profile as significant
based on improved coverage measures and an adequate liquidity
profile, offset by historically high reliance on secured debt and
short-term credit facility borrowings.  Portfolio occupancy is
high and recent internal growth has been strong."

S&P's positive outlook acknowledges more favorable operating
conditions and accretive acquisitions that S&P expects to support
continued improvement in key coverage measures.  S&P would raise
S&P's rating one notch if Associated continues to grow and
diversify its portfolio while managing leverage such that FCC is
sustained above 2.2x.  Although a downgrade is less likely in the
near term, in its view, S&P would lower its rating if FFO drops
precipitously (perhaps as a consequence of a second sharp
contraction in the economy or significant debt financed
acquisitions) and coverage of the common divided falls below 1.0x.


AVANTAIR INC: Posts $5.2 Million Net Loss in September 30 Quarter
-----------------------------------------------------------------
Avantair Inc. announced financial results for the first quarter of
fiscal 2011 ended September 30, 2010.

The Company's balance sheet at Sept. 30, 2010, showed
$124.21 million in total assets, $146.82 million in total
liabilities, and a stockholder's deficit of $37.25 million.

Net loss attributable to common stockholders was $5.2 million
based on 26.4 million weighted average shares outstanding.  This
compares with a net loss attributable to common stockholders of
$1.8 million based on 16.5 million weighted average shares
outstanding for the first quarter of fiscal 2010.

Steven Santo, Chief Executive Officer of Avantair said, "During
the quarter we achieved our goals of expanding our customer base
and preparing our growing fleet for enhanced utility and
performance.  Sales remain strong as evidenced by another record
quarter of revenue generating flight hours, and increased flight
hour cards and Axis Club Membership purchases. Robust sales growth
continues through October with the sale of an additional 38 flight
cards.

"As previously announced, we accelerated required maintenance
schedules in the fourth and first fiscal quarters.  This
investment in maintenance as well as the seasonal effect of our
fractional owners flying record-high hours during the first
quarter limited our operating results.  Looking forward, we expect
to return to more typical operational ratios beginning in the
second fiscal quarter.  With the bulk of our maintenance now
completed, we are on course to strengthen the availability of our
fleet, increase our utility and make substantive financial
strides," Mr. Santo concluded.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6e49

                       About Avantair Inc.

Headquartered in Clearwater, Fla., Avantair, Inc. (OTC BB: AAIR)
-- http://www.avantair.com/-- sells fractional ownership
interests in, and flight hour card usage of, professionally
piloted aircraft for personal and business use, and the management
of its aircraft fleet.  According to AvData, Avantair is the fifth
largest company in the North American fractional aircraft
industry.  As of June 30, 2010, Avantair operated 55 aircraft
within its fleet, which is comprised of 46 aircraft for fractional
ownership, 5 company owned core aircraft and 4 leased and company
managed aircraft.

Avantair also operates fixed flight based operations (FBO) in
Camarillo, California and in Caldwell, New Jersey.  Through these
FBOs and its headquarters in Clearwater, Florida, Avantair
provides aircraft maintenance, concierge and other services to its
customers as well as to the Avantair fleet.

                            *    *    *

The Company has suffered recurring losses.  The Company disclosed
that it may not be able to generate sufficient net revenue from
its business in the future to achieve or sustain profitability.


AXESSTEL INC: Posts $1.1 Million Net Loss in September 30 Quarter
-----------------------------------------------------------------
Axesstel, Inc., reported reported revenues for the third quarter
of 2010 of $9.1 million.  Net loss for the period was
$1.1 million, or $0.05 loss per share.

The Company's balance sheet at Sept. 30, 2010, showed
$10.90 million in total assets, $21.28 in total current
liabilities, and a stockholders' deficit of $10.37 million.

Revenues for the third quarter of 2010 were $9.1 million, compared
to $15.0 million in third quarter 2009.  Data products contributed
85% of revenues and voice products 15% in the third quarter 2010,
compared to data products with 70% and voice products with 30% in
the third quarter of 2009.  Gross margin for the third quarter
2010 was $1.6 million, or 18% of revenue, which was impacted by
$464,000 write-offs of excess and obsolete inventory, and the sale
of some aged finished goods inventory at low margins.  This
compares to $3.0 million, or 20% of revenue for the same period
last year.  Third quarter 2010 operating expenses decreased to
$2.6 million, down 28% from $3.6 million in the third quarter of
2009.  Third quarter 2010 net loss was $1.1 million, or $0.05 loss
per share, compared to third quarter 2009 net loss of $909,000, or
$0.04 loss per share.

For the nine months ended September 30, 2010, the company reported
revenue of $35.8 million, compared to $40.7 million for the first
nine months of 2009. Net loss for the nine month period narrowed
to $3.9 million, or $0.17 loss per share, compared to a net loss
of $5.3 million, or $0.23 loss per share, in the same period of
2009.

Clark Hickock, CEO of Axesstel, stated, "Third quarter revenue was
impacted by slower than expected customer homologation for some of
our new products.  Although we were disappointed with the third
quarter results, we continued to drive to completion our strategic
product transition, which we believe positions us for improved
financial performance beginning in the fourth quarter and
continuing into 2011.  A number of our customers were testing our
newly re-engineered products and held orders pending completion of
those tests. Our restructured product development process, which
is focused on research and development partnerships in China, has
lowered expenses.  In fact, operating expenses were a record low
for the third consecutive quarter and down 28% year-over-year."

A full-text copy of the earnings release is available for free
at http://ResearchArchives.com/t/s?6e61

                       About Axesstel, Inc.

San Diego, Calif.-based Axesstel, Inc. (OTC BB: AXST)
-- http://www.axesstel.com/-- is a provider of fixed wireless
voice and broadband access solutions for the worldwide
telecommunications market.

                          *     *     *

As reported in the Troubled Company Reporter on March 29, 2010,
Gumbiner Savett Inc., in Santa Monica, Calif., 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 historically incurred substantial
losses from operations, and the Company may not have sufficient
working capital or outside financing available to meet its planned
operating activities over the next 12 months.

At March 31, 2010, the Company owed its primary manufacturer
$9.7 million, of which $6.1 million was past due under the terms
of its credit arrangement.


B-SCT2, LLC: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: B-SCT2, LLC
        3455 Cliff Shadows Parkway, Suite 220
        Las Vegas, NV 89129

Bankruptcy Case No.: 10-31307

Chapter 11 Petition Date: November 10, 2010

Court: U.S. Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Mike K. Nakagawa

Debtor's Counsel: I. Scott Bogatz, Esq.
                  BOGATZ & ASSOCIATES, P.C.
                  3455 Cliff Shadows Parkway, Suite 110
                  Las Vegas, NV 89129
                  Tel: (702) 776-7000
                  Fax: (702) 776-7900
                  E-mail: rpoll@isbnv.com

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

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

The list of unsecured creditors filed together with its petition
does not contain any entry.

The petition was signed by Thomas J. Devore, chief operating
officer of LEHM, LLC, manager.

Debtor-affiliates that filed separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
B-SWDE3, LLC                          09-29051            10/09/09
B-PVL1, LLC                           09-29147            10/12/09
A-SWDE1, LLC                          09-34216            12/29/09
A-JVP1, LLC                           09-34236            12/29/09
B-SWDE2, LLC                          09-33470            09/15/09
B-NWI1, LLC                           10-15774            04/02/10
B-JVP1, LLC                           10-16641            04/16/10
B-VLP2, LLC                           10-16660            04/16/10
B-PVL2, LLC                           10-16648            04/16/10
B-VLP1, LLC                           10-16655            04/16/10
B-VV1, LLC                            10-18284            05/05/10
A-NGAE1, LLC                          10-18719            05/12/10
B-SWDE6, LLC                          10-30194            10/27/10
B-SWDE7, LLC                          10-30199            10/27/10


BANK OF AMERICA: Wants RICO Foreclosure Class Action Tossed
-----------------------------------------------------------
Bankruptcy Law360 reports that Bank of America NA has asked a
federal court to throw out a putative class action from homeowners
who say the bank engaged in racketeering by submitting perjured
affidavits during foreclosure proceedings.

Law360 says the homeowners' suit essentially tries to use a
federal court to appeal a state court decision.

                        About Bank of America

Based in Charlotte, North Carolina, Bank of America --
http://www.bankofamerica.com/-- is one of the world's largest
financial institutions.  The Company serves more than 59 million
consumer and small business relationships with more than 6,100
retail banking offices, nearly 18,700 ATMs and online banking with
nearly 29 million active users.  Following the acquisition of
Merrill Lynch in January 2009, BofA is among the world's leading
wealth management companies and is a global leader in corporate
and investment banking and trading across a broad range of asset
classes serving corporations, governments, institutions and
individuals around the world.  Bank of America offers support to
more than 4 million small business owners.  The Company serves
clients in more than 150 countries.  Bank of America Corporation
stock is a component of the Dow Jones Industrial Average and is
listed on the New York Stock Exchange.

BofA sought government backing in completing its acquisition of
Merrill Lynch.  Merrill Lynch & Co. Inc. -- http://www.ml.com/--
is a wealth management, capital markets and advisory companies
with offices in 40 countries and territories.

                           *     *     *

BofA has received US$45 billion in government bailout money since
the economic collapse in 2008.


BERNARD L MADOFF: Trustee Seeks $70 Million From Former Employees
-----------------------------------------------------------------
The trustee overseeing the bankruptcy of Bernard Madoff's
investment firm has reportedly launched suits accusing five former
Madoff employees of improperly collecting $70 million, Bankruptcy
Law360 reports.

Law360 says Irving Picard, the trustee in the bankruptcy case of
Bernard L. Madoff Investment Securities LLC, on Friday lodged
separate suits in the U.S. Bankruptcy Court for the Southern
District of New York.

                       About Bernard L. Madoff

Bernard L. Madoff Investment Securities LLC and Bernard L. Madoff
orchestrated the largest Ponzi scheme in history, with losses
topping US$50 billion.

On December 15, 2008, the Honorable Louis A. Stanton of the U.S.
District Court for the Southern District of New York granted the
application of the Securities Investor Protection Corporation for
a decree adjudicating that the customers of BLMIS are in need of
the protection afforded by the Securities Investor Protection Act
of 1970.  The District Court's Protective Order (i) appointed
Irving H. Picard, Esq., as trustee for the liquidation of BLMIS,
(ii) appointed Baker & Hostetler LLP as his counsel, and (iii)
removed the SIPA Liquidation proceeding to the Bankruptcy Court
(Bankr. S.D.N.Y. Adv. Pro. No. 08-01789) (Lifland, J.).  Mr.
Picard has retained AlixPartners LLP as claims agent.

On April 13, 2009, former BLMIS clients filed an involuntary
Chapter 7 bankruptcy petition against Bernard Madoff (Bankr.
S.D.N.Y. 09-11893).  The case is before Hon. Burton Lifland.  The
petitioning creditors -- Blumenthal & Associates Florida General
Partnership, Martin Rappaport Charitable Remainder Unitrust,
Martin Rappaport, Marc Cherno, and Steven Morganstern -- assert
US$64 million in claims against Mr. Madoff based on the balances
contained in the last statements they got from BLMIS.

On April 14, 2009, Grant Thornton UK LLP as receiver placed Madoff
Securities International Limited in London under bankruptcy
protection pursuant to Chapter 15 of the U.S. Bankruptcy Code
(Bankr. S.D. Fla. 09-16751).

The Chapter 15 case was later transferred to Manhattan.  In June
2009, Judge Lifland approved the consolidation of the Madoff SIPA
proceedings and the bankruptcy case.

Judge Denny Chin of the U.S. District Court for the Southern
District of New York on June 29, 2009, sentenced Mr. Madoff to
150 years of life imprisonment for defrauding investors in United
States v. Madoff, No. 09-CR-213 (S.D.N.Y.)

As of October 29, 2010, a total of US$5.69 billion in claims by
investors has been allowed, with US$741.2 million to be paid by
the Securities Investor Protection Corp.  Investors are expected
to receive additional distributions from money recovered by Mr.
Picard.


BIG BLACK: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Big Black Dogs, LLC
          dba Palisade Hotel
              Palisade Plaza
        965 Gray Avenue
        Yuba City, CA 95991

Bankruptcy Case No.: 10-49712

Chapter 11 Petition Date: November 10, 2010

Court: U.S. Bankruptcy Court
       Eastern District of California (Sacramento)

Judge: Robert S. Bardwil

Debtor's Counsel: R. Dale Ginter, Esq.
                  621 Capitol Mall, 18th Floor
                  Sacramento, CA 95814-4731
                  Tel: (916) 444-1000

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

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/caeb10-49712.pdf

The petition was signed by Grover Scott Black, managing member.


BIO-KEY INT'L: Reports $742,824 Operating Loss in Third Quarter
---------------------------------------------------------------
BIO-key International Inc. reported financial results for the
third quarter and nine-month period ended September 30, 2010.

Total revenue for the three months ended September 30, 2010 was
$546,376 compared to $524,351 for the same period last year, an
increase of 4.2%.  Driving this increase were higher service and
hardware revenue, offset by lower license revenue compared to the
prior year period.

Gross profit and gross profit margin for the three months ended
September 30, 2010 were $340,206 and 62.3% respectively, as
compared to $329,566 and 62.9% respectively, for the three months
ended September 30, 2009.  The small decrease in gross profit
margin is directly attributable to higher hardware sales as a
percentage of net sales for the comparable period.  The Company
believes that higher sales of its software as compared to hardware
in future periods will drive a significant increase in gross
profit margins.

Operating expenses for the three months ended September 30, 2010
were approximately $1.1 million, an increase of 8.8% as compared
to operating expenses of approximately $1.0 for the same period in
2009.  This increase was primarily due to higher selling, general
and administrative expenses related to higher sales and marketing
costs for customer visits and show exhibitions, in an effort to
expand the Company's customer base and revenues.  Additionally,
this increase was due to higher administrative costs associated
with the change in the Company's independent auditors and an 8.3 %
increase in research, development and engineering costs directly
related to consulting and hardware expenses on new projects.

Operating loss for the period ended September 30, 2010 was
$742,824 compared to an operating loss of $665,523 for the same
period in 2009.  Total net loss including derivative and warrant
fair value adjustments and income from discontinued operations for
the third quarter of 2010 was $943,790 compared to a net loss of
$69,411 for the comparable 2009 period.  Additionally, the 2009
third quarter included $701,674 of income related to discontinued
operations.

"We are disappointed with our third quarter results, but remain
highly optimistic about our market potential and our future,"
stated Michael DePasquale, BIO-key's Chief Executive Officer.
"There were a number of deals we anticipated would close, but were
delayed and as such, we believe our Q4 2010 results will show
momentum in our top-line and a return to gross profit margins that
are more consistent with our historical results.  Demand for our
fingerprint biometric solutions remains strong and we continue to
gain traction in our markets; particularly in healthcare, as
evidenced by our new contract with The Institute for Transfusion
Medicine, a new alliance with Medflow, and continued integration
of our software into Allscripts, Genesis Healthcare and EPIC's
biometric solution offerings.   We continue to explore other
government and commercial opportunities, which if successfully
captured should positively impact our performance into next year."

A full-text copy of the earnings release is available for free
at http://ResearchArchives.com/t/s?6e60

                           About BIO-key

Wall, N.J.-based BIO-key International, Inc. (OTC BB: BKYI)
-- http://www.bio-key.com/-- develops and markets advanced
fingerprint identification biometric technology and software
solutions.

CCR LLP, in Westborough, Mass., expressed substantial doubt about
the Company's ability to continue as a going concern after
auditing the Company's results for the year ended Dec. 31, 2009.
The independent auditors noted of the Company's substantial net
losses in recent years and accumulated deficit.


BLUEGREEN CORP: Posts $16-Mil. Net Loss in Sept. 30 Quarter
-----------------------------------------------------------
Bluegreen Corporation filed its quarterly report on Form 10-Q,
reporting a net loss of $16.71 million on $101.72 million of total
revenue for the three months ended Sept. 30, 2010, compared with
net income of $3.93 million on $111.39 million of total revenues
for the same period a year ago.

The Company's balance sheet at Sept. 30, 2010, showed
$1.13 billion in total assets, $708.04 million in total
liabilities, and $423.22 million in stockholders' equity.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6e51

Bluegreen Corporation -- http://www.bluegreencorp.com/-- is a
provider of places to live and play through its resorts and
residential community businesses.  The company is organized into
two divisions: Bluegreen Resorts and Bluegreen Communities.
Bluegreen Resorts acquires, develops and markets vacation
ownership interests (VOIs) in resorts located in drive-to
vacation destinations and provides various services to third-
party resort owners.  Bluegreen Communities acquires, develops
and subdivides property and markets residential land homesites,
which are sold directly to retail customers who seek to build a
home in a residential setting, in some cases on properties
featuring a golf course and related amenities, and also offers
real estate consulting and other services to third parties.  It
also generates income from its resort management business and
through interest income earned from the financing of individual
purchasers of VOIs, and homesites sold by Bluegreen Communities.

Bluegreen Corp. has a 'CCC' corporate credit rating, with positive
outlook, from Standard & Poor's Ratings Services.


BUFFALO THUNDER: Bondholders Agree to Restructure Casino Debt
-------------------------------------------------------------
Jessica Dyer, staff writer for the Albuquerque Journal, reports
that after a series of missed bond payments that raised questions
about the economic viability of Buffalo Thunder Resort and Casino,
a Pojoaque Pueblo business agency and its investors have agreed to
restructure the debt owed on the huge resort.  According to the
Journal, Pueblo Gov. George Rivera announced the new agreement
Friday afternoon.

"The restructuring will enable us to continue operating the finest
casino and resort in New Mexico with an improved capital structure
and sound financial conditions," the Journal quotes Gov. Rivera as
saying.

According to the Journal, under a previous agreement, Buffalo
Thunder Development Authority owed semiannual payments of about
$11.5 million on a $245 million bond.  Gov. Rivera said the resort
-- which opened in the fall of 2008 -- made two payments but had
since missed "three or four."

The Journal reports the governor said the new agreement calls for
Buffalo Thunder's debt to be "reset" at the end of 2013 and
reconfigured based on how the casino performs in the fiscal years
ending in 2012 and 2013.

The report relates Gov. Rivera also said that at the end of 2013,
the development authority will exchange $245 million of 9.375%
senior secured notes that were issued in December 2006 for new
secured notes and unsecured, subordinated claim certificates
"based on actual financial performance" in 2012 and 2013.  Gov.
Rivera said that 2013 was selected as the reset date because it
gives Buffalo Thunder the chance to grow as a business and because
there is hope the recession will be over.

The Journal notes that, according to figures released by the New
Mexico Gaming Control Board, Pojoaque Pueblo -- which also
operates Cities of Gold Casino -- had a net win of $13.33 million
during the third quarter of 2010. That figure represents the
amount wagered on slot machines, less cash and other prizes paid
out by the machines and state and tribal regulatory fees.
Pojoaque's net win was $13.06 million in the second quarter and
$12.21 million in the first quarter.

The Journal notes Gov. Rivera said the restructuring agreement has
been executed by note holders that represent 80% of the
outstanding notes.  The exchange offer is subject to approval by
100% of note holders but Gov. Rivera said that isn't expected to
be a problem.  The new agreement is also subject to some
regulatory approval and must be deemed in compliance with the
Indian Gaming Regulatory Act by the National Indian Gaming
Commission.


CALIFORNIA COASTAL: Posts $12.2 Million Net Loss in Q3 2010
-----------------------------------------------------------
California Coastal Communities, Inc., filed its quarterly report
on Form 10-Q, reporting a net loss of $12.2 million on
$5.6 million of revenue for the three months ended September 30,
2010, compared with a net loss of $18.1 million on $11.4 million
of revenue for the same period last year.

During the three months ended September 30, 2010, the Company
incurred reorganization costs aggregating approximately
$2.3 million ($0 in Q3 2009) and has incurred total reorganization
costs of $7.3 million through that date.

The Company's balance sheet at September 30, 2010, showed
$231.2 million in total assets, $220.0 million in total
liabilities, and stockholders' equity of $11.2 million.

On March 26, 2010, the Company filed a proposed disclosure
statement and proposed joint plan of reorganization with the
Bankruptcy Court and a hearing on the adequacy of the disclosure
statement was held on May 12, 2010.  On June 18, 2010, the Company
obtained a financing commitment from Luxor Capital Group, LP, to
provide $184 million of new debt financing and on July 2, 2010,
filed a revised disclosure statement and proposed joint plan of
reorganization, which were further revised on July 28, 2010, with
the Bankruptcy Court.  On August 31, 2010, the Luxor financing
commitment expired.

The Company is continuing to negotiate with its lenders to develop
a consensual plan of reorganization, the Company said in the 10-Q
filing.

Based on sales of Brightwater in 2009 and the first nine months of
2010, the Company does not believe that its cash, cash equivalents
and future real estate sales proceeds will provide sufficient
liquidity to meet its current debt obligations under the current
terms of the existing Revolving Loan Agreement ($81.7 million
outstanding as of September 30, 2010) and Term Loan Agreement
($99.8 million outstanding as of September 30, 2010), in addition
to its anticipated operating and project development costs for
Brightwater, and general and administrative expenses during the
next 12 months.

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

               http://researcharchives.com/t/s?6e4d

                   About California Coastal

Irvine, California-based California Coastal Communities, Inc.
-- http://www.californiacoastalcommunities.com/-- is a
residential land development and homebuilding company with
properties owned or controlled primarily in Orange County,
California, and also in Lancaster in Los Angeles county.  The
Company's primary asset is a 356-home luxury coastal community
known as Brightwater in Huntington Beach, California.

California Coastal Communities, Inc. and certain of its direct and
indirect wholly-owned subsidiaries filed for Chapter 11 bankruptcy
protection on October 27, 2009 (Bankr. C.D. Calif. Case No.
09-21712).  Joshua M. Mester, Esq., in Los Angeles, California,
serves as counsel to the Debtors.  The Company's financial advisor
is Imperial Capital, LLC.  California Coastal estimated
$100 million to $500 million in assets and debts in its Chapter 11
petition.


CARL MASHBURN: Case Summary & 8 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Carl Edward Mashburn
        1018 County Road 50
        Athens, TN 37303

Bankruptcy Case No.: 10-16670

Chapter 11 Petition Date: November 10, 2010

Court: United States Bankruptcy Court
       Eastern District of Tennessee (Chattanooga)

Judge: John C. Cook

Debtor's Counsel: Richard L. Banks-Blm, Esq.
                  RICHARD BANK & ASSOCIATES, P.C.
                  P.O. Box 1515
                  Cleveland, TN 37364-1515
                  Tel: (423) 479-4188
                  E-mail: bmerriman@rbankslawfirm.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 eight largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/tneb10-16670.pdf


CASCADE BANCORP: Securities Purchase Pacts Extended to Nov. 5
-------------------------------------------------------------
Cascade Bancorp has entered into an agreement with each of David
F. Bolger and an affiliate of Lightyear Fund II, L.P., amending
the Securities Purchase Agreements between the Company and Mr.
Bolger and the Company and Lightyear dated October 29, 2009, as
previously amended, to extend their conditional commitments to
November 5, 2010.

Per the new agreement, the extended date by which conditions of
closing must be satisfied is now November 5, 2010.  The sales to
Mr. Bolger and to Lightyear are conditioned upon the Company's
simultaneous sale of shares of its common stock in additional
private placements to other investors under separate written
agreements such that the total net proceeds from the offerings is
at least $150 million, in addition to the other closing conditions
set forth in each of the Securities Purchase Agreements.

                      About Cascade Bancorp

Bend, Ore.-based Cascade Bancorp (Nasdaq: CACB) through its
wholly-owned subsidiary, Bank of the Cascades, offers full-service
community banking through 32 branches in Central Oregon, Southern
Oregon, Portland/Salem Oregon and Boise/Treasure Valley Idaho.
Cascade Bancorp has no significant assets or operations other than
the Bank.

Weiss Ratings has assigned its E- rating to Bend, Ore.-based Bank
of The Cascades.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $2,083,883,000 in assets.


CASCADE BANCORP: Extends Securities Purchase Pacts until Nov. 12
----------------------------------------------------------------
Cascade Bancorp has entered into an agreement with each of David
F. Bolger and an affiliate of Lightyear Fund II, L.P., amending
the Securities Purchase Agreements between the Company and Mr.
Bolger and the Company and Lightyear dated October 29, 2009, as
previously amended, to extend their conditional commitments to
November 12, 2010.

Per the new agreement, the extended date by which conditions of
closing must be satisfied is now November 12, 2010.  The sales to
Mr. Bolger and to Lightyear are conditioned upon the Company's
simultaneous sale of shares of its common stock in additional
private placements to other investors under separate written
agreements such that the total net proceeds from the offerings is
at least $150 million, in addition to the other closing conditions
set forth in each of the Securities Purchase Agreements.

Bend, Ore.-based Cascade Bancorp (Nasdaq: CACB) through its
wholly-owned subsidiary, Bank of the Cascades, offers full-service
community banking through 32 branches in Central Oregon, Southern
Oregon, Portland/Salem Oregon and Boise/Treasure Valley Idaho.
Cascade Bancorp has no significant assets or operations other than
the Bank.

Weiss Ratings has assigned its E- rating to Bend, Ore.-based Bank
of The Cascades.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $2,083,883,000 in assets.


CHARLES HWANG: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Charles Hwang
        aka Jingia Hwang
        3050 Plaza Terrace Drive
        Orlando, FL 32803

Bankruptcy Case No.: 10-20203

Chapter 11 Petition Date: November 10, 2010

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

Debtor's Counsel: Lawrence M. Kosto, Esq.
                  KOSTO & ROTELLA PA
                  P.O. Box 113
                  Orlando, FL 32802
                  Tel: (407) 425-3456
                  Fax: (407) 423-9002
                  E-mail: lkosto@kostoandrotella.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/flmb10-20203.pdf

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Fidelity Properties Group, LLC         10-05510   04/01/10
Global Associates International
  Group, Inc.                          10-05511   04/01/10


CHEMTURA CORP: To Pay $3 Million for Cleanup of Calif. Sites
------------------------------------------------------------
Bankruptcy Law360 reports that Judge Robert E. Gerber of the U.S.
Bankruptcy Court for the Southern District of New York has
approved settlements totaling over $3 million to resolve pollution
cleanup claims brought by the California Department of Toxic
Substance Control against Chemtura Corp. and its affiliates.

                       About Chemtura Corp.

Based in Middlebury, Connecticut, Chemtura Corporation (CEM) --
http://www.chemtura.com/-- with 2008 sales of $3.5 billion, is a
global manufacturer and marketer of specialty chemicals, crop
protection products, and pool, spa and home care products.
Chemtura Corporation and 26 of its U.S. affiliates filed voluntary
petitions for relief under Chapter 11 on March 18, 2009 (Bankr.
S.D.N.Y. Case No. 09-11233).  M. Natasha Labovitz, Esq., at
Kirkland & Ellis LLP, in New York, serves as bankruptcy counsel.
Wolfblock LLP serves as the Debtors' special counsel.  The
Debtors' auditors and accountant are KPMG LLP; their investment
bankers are Lazard Freres & Co.; their strategic communications
advisors are Joele Frank, Wilkinson Brimmer Katcher; their
business advisors are Alvarez & Marsal LLC and Ray Dombrowski
serves as their chief restructuring officer; and their claims and
noticing agent is Kurtzman Carson Consultants LLC.  As of
December 31, 2008, the Debtors had total assets of $3.06 billion
and total debts of $1.02 billion.


CINRAM INTERNATIONAL: Bank Debt Trades at 22% Off in Market
-----------------------------------------------------------
Participations in a syndicated loan under which Cinram
International, Inc., is a borrower traded in the secondary market
at 77.70 cents-on-the-dollar during the week ended Friday,
November 12, 2010, according to data compiled by Loan Pricing
Corp. and reported in The Wall Street Journal.  This represents an
increase of 1.10 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 April 26,
2011, and carries Moody's B3 rating and Standard & Poor's CCC+
rating.  The loan is one of the biggest gainers and losers among
202 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

With headquarters in Toronto, Ontario, Canada, Cinram
International, Inc., is one of the world's largest independent
manufacturers, replicators and distributors of DVDs and audio CDs.

Cinram carries a 'Caa1' corporate family rating and a 'Caa2'
probability of default rating from Moody's Investors Service.

In June 2010, Moody's downgraded Cinram's speculative grade
liquidity rating to SGL-4 (indicating poor liquidity arrangements)
from SGL-3 (indicative of adequate liquidity arrangements) as a
consequence of the company's revolving credit facility being due
within the next four quarters.  While the company has likely
initiated refinance discussions and Moody's expect management to
fully address this matter, the May 5, 2011 maturity date of the
company's credit facility mandates the SGL rating downgrade --
this is despite a sizeable cash balance ($134 million at March 31,
2010).

According to Moody's, the primary ratings influence is the
company's need to reinvent itself as the financial viability of
its core activity, CD and DVD replication, gradually wanes.


CIRCUIT CITY: Files Liquidating Trust Pact; 4 Directors Resign
--------------------------------------------------------------
Circuit City Stores Inc. filed with the U.S. Bankruptcy Court for
the Eastern District of Virginia executed and final versions of
the Liquidating Trust Agreement and Oversight Committee Bylaws on
November 1, 2010.

A copy of the Liquidating Trust Agreement and Oversight Committee
Bylaws is available for free at:

               http://ResearchArchives.com/t/s?6e57

On November 1, which is the effective date, the Debtor's assets
were transferred into a liquidating trust and the terms of the
Plan and the Liquidating Trust Agreement began to govern
distributions of the Circuit City Stores, Inc. Liquidating Trust's
assets to the Debtor's creditors.  On the Effective Date, the
Debtor was deemed dissolved under applicable state law and its
shares of common stock were deemed cancelled.

Departure of Directors

On the Effective Date, the members of the Debtor's board of
directors, Ronald M. Brill, Allen B. King, Don R. Kornstein and
James A. Marcum, were deemed to have resigned.

                        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.


CISTERA NETWORKS: Earns $142,300 in September 30 Quarter
--------------------------------------------------------
Cistera Networks, Inc., filed its quarterly report on Form 10-Q,
reporting net income of $142,296 on $577,223 of revenue for the
three months ended September 30, 2010, compared with net income of
$106,615 on $750,909 of revenue for the three months ended
September 30, 2009.

On September 29 2010, the Company determined that no further
claims for liquidated damages are assessable and has closed out
the liquidated damages reserve and written back the amount of
$177,402.

As of September 30, 2010, the Company was in default on roughly
$1.2 million of principal and accrued interest on certain PP2
Notes (the "April PP2 Notes").  As of that date, the Company
began to accrue interest on the April PP2 Notes at a default rate
of 18% per annum, which is the maximum allowable rate as
stipulated under the PP2 Note purchase agreement.

The Company's balance sheet at September 30, 2010, showed
$1.9 million in total assets, $3.7 million in total liabilities,
and a stockholders' deficit of $1.8 million.

As reported in the Troubled Company Reporter on July 20, 2010,
Robison, Hill & Co., in Salt Lake City, Utah, expressed
substantial doubt about the Company's ability to continue as a
going concern, following its results for the fiscal year ended
March 31, 2010.  The independent auditors noted that the Company
has suffered recurring losses from operations and has a net
capital deficiency.

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

               http://researcharchives.com/t/s?6e40

                    About Cistera Networks

Based in Plano, Texas, Cistera Networks, Inc. (OTC BB: CNWT)
-- http://www.cistera.com/-- is a provider of enterprise
application communications platforms and services.


CLARK CONTRACTING: District Court Upholds Assignee's Lien
---------------------------------------------------------
WestLaw reports that the Texas legislature did not intend for the
provisions of the Texas Certificate of Title Act (TCOTA) regarding
re-titling upon assignment of a lien in a motor vehicle to be
mandatory, and an assignee's failure to take the affirmative steps
set out in the TCOTA provisions to have its identity as a
lienholder reflected on the certificates of title does not cause
its lien to be ineffective against innocent third parties such as
judgment lien creditors.  Thus, its liens could not be avoided by
the debtor-in-possession in the exercise of its strong-arm powers.
In re Clark Contracting Services, Inc., --- B.R. ----, 2010 WL
4386715 (W.D. Tex.) (Biery, J.).

This decision from the Honorable Fred Biery reverses the
Bankruptcy Court's decision, 399 B.R. 789, and remands the matter
to the Honorable Leif M. Clark for further proceedings consistent
with the District Court's decision.  Michael D. Jewesson, Esq. --
mikejewesson@andrewskurth.com -- at Andrews Kurth LLP in Dallas,
Tex., wrote about the Bankruptcy Court's ruling in Mar. 2009 --
see http://is.gd/h2b1q-- correctly speculated that the trial
court decision wouldn't stand, and wrote a follow-up piece for
LJN's Equipment Leasing Newsletter -- see http://is.gd/h2dgW

Clark Contracting Services, Inc., is a construction company that
provides contracting services related to the clearing and paving
of land and pad sites for commercial developments.  Facing
potential foreclosure actions by a number of creditors, Clark
Contracting filed a chapter 11 petition (Bankr. W.D. Tex. Case No.
08-50046) on Jan. 9, 2008.  A copy of the Debtor's chapter 11 is
available at http://bankrupt.com/misc/txwb08-50046.pdfat no
charge.


CLEAR CHANNEL: Bank Debt Trades at 19% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Clear Channel
Communications, Inc., is a borrower traded in the secondary market
at 81.08 cents-on-the-dollar during the week ended Friday,
November 12, 2010, according to data compiled by Loan Pricing
Corp. and reported in The Wall Street Journal.  This represents an
increase of 1.74 percentage points from the previous week, The
Journal relates.  The Company pays 365 basis points above LIBOR to
borrow under the facility.  The bank loan matures on Jan. 30,
2016, and carries Moody's Caa1 rating and Standard & Poor's CCC
rating.  The loan is one of the biggest gainers and losers among
202 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

                       About Clear Channel

Clear Channel Communications, Inc. -- http://www.clearchannel.com/
-- is a diversified media company with three primary business
segments: radio broadcasting, outdoor advertising and live
entertainment.  Clear Channel Communications is the operating
subsidiary of San Antonio, Texas-based CC Media Holdings, Inc.

Clear Channel carries a 'Caa2' corporate family rating from
Moody's Investors Service.

Clear Channel Capital I, LLC, the parent of Clear Channel
Communications, disclosed assets of $17.286 billion, total debts
of $24.495 billion, and a member's deficit of $7.209 billion.
Clear Channel reported a net loss of $364.92 million on $2.753
billion of revenue for six months ended June 30, 2010.


COGECO CABLE: S&P Assigns Rating to Senior Secured Debentures
-------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'BBB' debt
issue rating with a recovery rating of '1' to Montreal-based
Cogeco Cable Inc.'s proposed C$200 million 5.15% senior secured
debentures series 2 due Nov. 16, 2020.  These new debentures rank
pari passu with all existing and future first-lien, senior secured
indebtedness and contain total debt leverage ratio financial
covenants.

S&P rates the notes at 'BBB' (two notches higher than the
corporate credit rating on Cogeco Cable), with a recovery rating
of '1', indicating lenders can expect very high (90%-100%)
recovery in the event of a payment default.  The notes are being
issued under the company's C$500 million short-form base shelf
prospectus filed May 27, 2009.  S&P understands that the
company will use the net proceeds to fund the prepayment
of the C$175 million 7.73% series B senior secured notes
outstanding due Oct. 31, 2011 and for general corporate
purposes.

"The 'BB+' long-term corporate credit rating and stable outlook
on Cogeco Cable reflect what S&P views as the satisfactory
business risk profile of the company's Canadian operations,
partially offset by the vulnerable business risk profile of its
Portugal-based cable operator Cabovisao-Televisao por Cabo S.A.,"
said Standard & Poor's credit analyst Madhav Hari.  "The ratings
are also supported by the company's relatively healthy adjusted
debt leverage and corresponding credit metrics," Mr. Hari added.

The ratings are tempered, in S&P's opinion, by a significant
financial risk profile characterized by an aggressive financial
policy given management's desire to pursue additional debt-
financed acquisitions, potentially in new international regions
where there are few synergies, and high capital expenditures.

                          Ratings List

                        Cogeco Cable Inc.

   Corporate credit rating                      BB+/Stable/--

                         Rating Assigned

         C$200 million senior secured debentures      BBB
           Recovery rating                            1


COMMERCE PARK ASSOC. 2: Agrees with U.S. Trustee on Dismissal
-------------------------------------------------------------
Commerce Park Associates 2, LLC, and William K. Harrignton, U.S.
Trustee for Region 1, ask the U.S. Bankruptcy Court for the
District Of Rhode Island to dismiss the Debtor's Chapter 11
bankruptcy case.

Prior to the Debtor's bankruptcy filing, the Debtor, along with
related entity Commerce Park Associates 6, LLC, was a defendant in
superior court actions in which Attorney Allan M. Shine has been
appointed Keeper Pro Tem of Debtor's assets subject to the
Superior Court's jurisdiction.

The U.S. Trustee visited the Debtor's and Commerce Park Associates
6's locations on November 9, 2010, along with the State Court
Keeper Pro Tem and Counsel for Rockland Bank and Richard Reindeau
-- in-house counsel for the owner of the membership interest of
the Debtor and Commerce Park Associates 6.  The U.S. Trustee said,
"The parties have advised that there is little to no unsecured
debt and that the bank, Rockland Trust, and the Keeper Pro Tem are
in agreement as to a so called short sale of the real estate owned
by Commerce Park Associates 6, LLC."

The Debtor has a large industrial building formerly occupied by a
Mack Truck dealership.  According to the U.S. Trustee, the Debtor
has no rental income and no ability to make current debt service
payments or utility and real estate tax payments.

West Warwick, Rhode Island-based Commerce Park Associates 2, LLC,
filed for Chapter 11 bankruptcy protection on November 2, 2010
(Bankr. D. R.I. Case No. 10-14635).  Richard Riendeau, Esq., who
has an office in West Warwick, Rhode Island, assists the Debtor in
its restructuring effort.  The Debtor estimated its assets and
debts at $1 million to $100 million.

The Debtor filed the voluntary Chapter 11 petition along with
a related entity, Commerce Park Associates 6, LLC (Bankr. D. R.I.
Case No. 10-14636).


COMMERCE PARK ASSOC. 6: Agrees with U.S. Trustee on Dismissal
-------------------------------------------------------------
Commerce Park Associates 6, LLC, and William K. Harrignton, U.S.
Trustee for Region 1, ask the U.S. Bankruptcy Court for the
District Of Rhode Island to dismiss the Debtor's Chapter 11
bankruptcy case.

Prior to the Debtor's bankruptcy filing, the Debtor, along with
related entity Commerce Park Associates 2, LLC, was a defendant in
superior court actions in which Attorney Allan M. Shine has been
appointed Keeper Pro Tem of Debtor's assets subject to the
Superior Court's jurisdiction.

The U.S. Trustee visited the Debtor's and Commerce Park Associates
2's locations on November 9, 2010, along with the State Court
Keeper Pro Tem and Counsel for Rockland Bank and Richard Reindeau
-- in-house counsel for the owner of the membership interest of
the Debtor and Commerce Park Associates 2.  The U.S. Trustee said,
"The parties have advised that there is little to no unsecured
debt and that the bank, Rockland Trust, and the Keeper Pro Tem are
in agreement as to a so called short sale of the real estate owned
by Commerce Park Associates 6, LLC."

Upon information and belief the Keeper intends to complete a sale
of the building to a non-profit organization for use as a day
facility for children suffering from autism.

The Debtor owns a large, modern, former daycare center which has
been vacant for some time.  The building does not have working
heat due to the theft of rooftop equipment prior to the petition
date.  The Debtor has no rental income and no ability to make
current debt service payments or utility and real estate tax
payments.

West Warwick, Rhode Island-based Commerce Park Associates 6, LLC,
owns a single asset real estate.  It filed for Chapter 11
bankruptcy protection on November 2, 2010 (Bankr. D. R.I. Case No.
10-14636).  Richard Riendeau, Esq., who has an office in West
Warwick, Rhode Island, assists the Debtor in its restructuring
effort.  The Debtor estimated its assets and debts at $1 million
to $100 million.

The Debtor filed the voluntary Chapter 11 petition along with
a related entity, Commerce Park Associates 2, LLC (Bankr. D. R.I.
Case No. 10-14635).


CONVERSION SERVICES: Posts $314,774 Net Loss in September 30 Qtr.
-----------------------------------------------------------------
Conversion Services International Inc. filed its quarterly report
on Form 10-Q, reporting a net loss of $314,774 on $3.78 million of
total revenues for the three months ended Sept. 30, 2010, compared
with net income of $1.29 million on $8.06 million of total
revenues for the same period a year ago.

The Company's balance sheet at Sept. 30, 2010, showed
$2.66 million in total assets, $5.88 million in total liabilities,
and a stockholder's deficit of $3.22 million.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6e58

                    About Conversion Services

East Hanover, N.J.-based Conversion Services International, Inc.,
provides professional services to the Global 2000, as well as mid-
market clientele relating to strategic consulting, business
intelligence/data warehousing and data management and, through
strategic partners, the sale of software.  The Company's services
based clients are primarily in the financial services,
pharmaceutical, healthcare and telecommunications industries,
although it has clients in other industries as well.  The
Company's clients are primarily located in the northeastern United
States.

As reported in the Troubled Company Reporter on March 30, 2010,
Frieman LLP, in East Hanover, N.J., expressed substantial doubt
about the Company's ability to continue as a going concern,
following its 2009 results.  The independent auditors noted that
the Company has incurred recurring operating losses, negative cash
flows, is not in compliance with a covenant associated with its
Line of Credit and has significant future cash flow commitments.


COPPER STAR BANK: Closed; Stearns Bank Assumes All Deposits
-----------------------------------------------------------
Copper Star Bank of Scottsdale, Ariz., was closed on Friday,
November 12, 2010, by the Superintendent of the Arizona Department
of Financial Institutions, which appointed the Federal Deposit
Insurance Corporation as receiver.  To protect depositors, the
FDIC entered into a purchase and assumption agreement with Stearns
Bank National Association, of St. Cloud, Minn., to assume all of
the deposits of Copper Star Bank.

The three branches of Copper Star Bank will reopen during normal
banking hours as branches of Stearns Bank N.A.  Depositors of
Copper Star Bank will automatically become depositors of Stearns
Bank N.A.  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
up to the applicable limits.  Customers of Copper Star Bank should
continue to use their existing branch until they receive notice
from Stearns Bank N.A. that it has completed systems changes to
allow other Stearns Bank N.A. branches to process their accounts
as well.

As of September 30, 2010, Copper Star Bank had around
$204.0 million in total assets and $190.2 million in total
deposits.  Stearns Bank N.A. will pay the FDIC a premium of
1.0% to assume all of the deposits of Copper Star Bank.  In
addition to assuming all of the deposits, Stearns Bank N.A.
agreed to purchase essentially all of the failed bank's assets.

The FDIC and Stearns Bank N.A. entered into a loss-share
transaction on $165.2 million of Copper Star Bank's assets.
Stearns Bank N.A. 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 1-800-815-0286.  Interested parties also can
visit the FDIC's Web site at:

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

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $43.6 million.  Compared to other alternatives, Stearns
Bank N.A.'s acquisition was the least costly resolution for the
FDIC's DIF.  Copper Star Bank is the 146th FDIC-insured
institution to fail in the nation this year, and the fourth in
Arizona.  The last FDIC-insured institution closed in the state
was First Arizona Savings, a F.S.B., Scottsdale, on October 22,
2010.


CREDIT-BASED ASSET: Files for Chapter 11 in Manhattan
-----------------------------------------------------
Credit-Based Asset Servicing and Securitization LLC and its
affiliates filed Chapter 11 petitions (Bankr. S.D.N.Y. Case No.
10-16040) on November 12, three years after undergoing a $3.8
billion restructuring to avoid a slide into bankruptcy.

Credit-Based Asset Servicing estimated assets of up to $50 million
and debts of more than $1 billion.

The Debtors are represented by Peter S. Partee, Sr., Esq., Jack A.
Molenkamp, Esq., Andrew Kamensky, Esq., and Scott H. Bernstein, at
Hunton & Williams LLP, in New York.  Donlin, Recano & Company,
Inc. is the claims, balloting and noticing agent.

Andrew Rickert, executive vice president, treasurer, and assistant
secretary of C-BASS relates that from its founding in 1996, C-BASS
was a leading issuer, servicer, and investor specializing in
credit-sensitive residential mortgage assets.  C-Bass is a joint
venture, owned in part by units of mortgage insurers MGIC
Investment Corp. and Radian Group Inc.

According to Mr. Rickert, until early 2007, C-BASS's vertical
business strategy was extremely successful, causing C-BASS's net
stockholders' equity to soar to over $700 million.  As calendar
year 2007 progressed, however, what was then termed the "sub-prime
mortgage crisis" in the domestic residential mortgage market
worsened significantly, causing the Repo Counterparties and the
Senior Lenders to "mark-to-market" their respective collateral and
to make numerous substantial margin calls on C-BASS.

In the summer of 2007, the Debtors inked with senior lenders and
parties loan repurchase agreements forbearance agreements that
enabled the Debtors to preserve their assets while engaging in an
expedited bidding and auction process for the sale of Litton Loan
Servicing, LP, as a going concern.  On September 27, 2007, the
Debtors entered in an agreement for the sale of Litton to The
Goldman Sachs Group, Inc. for $428 million in cash.  Following
negotiations, the parties entered into an Override Agreement,
which represented a landmark achievement, effectively
accomplishing a long-term forbearance agreement among all of the
Override Parties in exchange for inter alia (i) an agreed upon
allocation of the Litton Sale Proceeds among the Repo
Counterparties, the Senior Lenders and the Debtors, (ii) a
temporary restructuring or "overriding" of the Override Parties'
respective claims for the period covered by the Override
Agreement, and (iii) broad releases among the Debtors and the
Override Parties.

Mr. Rickert relates, "At the time the Override Agreement went
effective, the Debtors strongly believed that substantial equity
existed in the assets serving as collateral for the Override
Parties.  As the domestic mortgage crisis spread beyond the "sub-
prime" sector to encompass the entire residential mortgage market
and deepened by an order of magnitude that no one could have
predicted, however, it became clear that no such equity existed
and that the Debtors would not be able to meet the requirements of
the Override Agreement."

As a result, the Debtors entered into multiple amendments of the
Override Agreement and one additional forbearance agreement with
the Senior Lenders.

Pursuant to the Restructuring Facilitation Agreement, dated as of
September 20, 2010, by and among the Debtors, JPMorgan Chase Bank,
N.A., as administrative agent under the Senior Credit Facility,
and certain lenders under the Senior Credit Facility that are
signatories to the RFA, the Administrative Agent and Participant
Lenders agreed, inter alia, to forbear from exercising default
remedies through November 15, 2010 and to permit the Debtors to
use up to $8.2 million of the cash proceeds of the Remaining
Collateral in accordance with the terms of the RFA and, after the
Petition Date, in accordance with the agreed upon cash collateral
and adequate protection order.

The RFA also (i) specifies a timeline pursuant to which the
Debtors are to use their respective best efforts to liquidate the
Remaining Collateral, (ii) obligates the Senior Lenders to vote in
favor of and otherwise support a chapter 11 plan satisfying
certain specified criteria, (iii) obligates the Senior Lenders to
release their liens on and security interests in certain
collateral under a chapter 11 plan provided that certain specified
conditions are satisfied, and (iv) provides broad releases to a
defined group of releasees, including without limitation the
Senior Lenders and the Administrative Agent.

The Senior Credit Facility Collateral remaining in the Debtors'
possession and control as of the Petition Date consists
principally of (i) various subordinated tranches of RMBS, (ii) the
CBO Management Rights, (iii) certain Whole Loans, (iv) one "real
estate owned" or "REO" property, (v) claims against various third
parties, some of which are debtors in chapter 11 bankruptcies,
(vi) deposits with surety bond providers, (vii) furniture,
fixtures, equipment and various forms of intellectual property,
(viii) receivables for the unused amount, if any, of professional
retainers, and (ix) cash collateral on deposit in the
Debtors' centralized cash operating account.  According to the
Debtors, the outstanding principal balance of the Senior Credit
Facility as of the Petition Date is approximately $170 million --
an amount well in excess of the current fair market value of the
Remaining Collateral.


CREDIT-BASED ASSET: Case Summary & 29 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Credit-Based Asset Servicing and Securitization LLC
        335 Madison Avenue, 19th Floor
        New York, NY 10017

Bankruptcy Case No.: 10-16040

Debtor-affiliates filing separate Chapter 11 petitions:

     Entity                                Case No.
     ------                                --------
     C-BASS CBO Holding LLC                10-16041
     C-BASS Credit Corp.                   10-16042
     C-BASS Investment Management LLC      10-16043
     NIM I LLC                             10-16044
     Pledged Property II LLC               10-16045
     Starfish Management Group LLC         10-16046
     Sunfish Management Group LLC          10-16047

Type of Business: Credit-Based Asset Servicing & Securitization
                  LLC is a subprime mortgage investor based in New
                  York.

Chapter 11 Petition Date: November 12, 2010

Bankruptcy Court: U.S. Bankruptcy Court
                  Southern District of New York (Manhattan)

Bankruptcy Judge: Allan L. Gropper

Debtors' Counsel: Peter S. Partee, Esq.
                  Richard P. Norton, Esq.
                  Robert A. Rich, Esq.
                  Scott Howard Bernstein
                  HUNTON & WILLIAMS LLP
                  200 Park Avenue
                  New York, NY 10166-0136
                  Tel: (212) 309-1000
                  Fax: (212) 309-1100
                  E-mail: ppartee@hunton.com
                          rnorton@hunton.com
                          rrich2@hunton.com
                          sbernstein@hunton.com

Debtors'
Claims Agent:     Donlin, Recano & Company, Inc.

Estimated Assets: $10 million to $50 million

Estimated Debts : More than $1 billion

The petition was signed by Andrew Rickert, executive vice
president.

Debtor's List of 29 Largest Unsecured Creditors:

  Entity/Person                Nature of Claim        Claim Amount
  -------------                ---------------        ------------
Wilmington Trust 2005-1        Trust Preferred        $128,815,003
1100 North Market Street
Attn: Patrick Healy
Wilmington, DE 19890
Tel.: (302) 636-6391

Alpine Securitization Corp.    Repurchase             $108,535,387
11 Madison Avenue              Agreement
New York, NY 10010
Attn: Bruce S. Kaiserman
Tel.: (212) 538-1962
Fax: (917) 326-7936

Loreley Financing (Jersey)     Litigation             $100,000,000
No. 22 & 28 Ltd
75 Livington Avenue
Roseland, NJ 07068
Stern & Kilcullen, LLC
Attn: Stephen M. Plotnick
Tel.: (973) 535-1900

Wells Fargo 2006-1             Trust Preferred         $90,243,419
Series B                       Security

Lehman Brothers, Inc.          Repurchase              $87,961,999
(CBO XX)                       Agreement

JPMorgan Chase Bank, N.A.      Repurchase              $72,351,499
                               Agreement

Merrill Lynch Mortgage         Repurchase              $48,657,281
Capital Inc.                   Agreement

Wilmington Trust 2006-3        Trust Preferred         $46,695,438
                               Security

Greenwich Capital Financial    Repurchase              $40,837,314
Products, Inc.                 Agreement

Wells Fargo 2006-1,            Trust Preferred         $38,644,501
series A                       Security

Northwestern Mutual Life       Subordinated Debt       $38,091,473
Insurance Co

Merrill Lynch Mortgage         Subordinated Debt       $36,895,519
Capital Inc

Saddle Rock Onshore            Subordinated Debt       $36,895,519
Funding LLC
Bergh Holdings, LLC            Subordinated Debt       $36,895,519

Bank of America, N.A.          Repurchase              $36,145,569
                               Agreement

Barclays Bank PLC              Repurchase              $35,192,035
                               Agreement

DB Structured Products,        Repurchase              $34,950,484
Inc.                           Agreement

JPMorgan Chase Bank, N.A.      Repurchase              $33,987,763
                               Agreement

Credit Suisse Securities       Repurchase              $33,738,521
(Europe) LIMITED               Agreement

Citigroup Global Markets       Repurchase              $30,313,987
Inc. (as successor to          Agreement
Salomon Smith Barney, Inc.)

Banc of America Securities     Repurchase              $26,907,760
LLC                            Agreement

Goldman, Sachs & Co.           Repurchase              $26,674,185
                               Agreement

Wilmington Trust 2006-4        Trust Preferred         $24,152,813
                               Securities

WestLB AG New York Branch      Loan Agreement          $19,501,620

Wilmington Trust 2006-2        Trust Preferred         $19,322,250
                               Securities

Wilmington Trust 2006-5        Trust Preferred         $19,322,250
                               Securities

Greenwich Capital Markets,     Repurchase              $15,881,177
Inc.                           Agreement

Northwestern Mutual Life       Subordinated            $14,744,165
Insurance Co.                  Debt

Property Asset Management,     Repurchase              $11,324,161
Inc (Lehman)                   Agreement


CROWN MEDIA: Earns $5.9 Million in September 30 Quarter
-------------------------------------------------------
Crown Media Holdings, Inc., filed its quarterly report on
Form 10-Q, reporting net income of $5.9 million on $62.5 million
of revenue for the three months ended September 30, 2010, compared
with a net loss of $10.2 million on $62.8 million of revenue for
the same period of 2009.

The Company's balance sheet as of September 30, 2010, showed
$697.3 million in total assets, $676.6 million in total
liabilities, $191.9 million in redeemable preferred stock, and a
stockholders' deficit of $171.1 million.

During the third quarter of 2010 the Company determined that its
preferred stock should have been classified in temporary equity
due to Hallmark Cards' control of the Company's Board of Directors
and its voting securities.  Accordingly, the Company corrected the
classification of its $185 million preferred stock to present it
as temporary equity.  The redeemable preferred stock presented in
consolidated balance sheet as of September 30, 2010, also includes
the third quarter imputed dividend of roughly $6.9 million.

KPMG LLP, in Denver, expressed substantial doubt about Crown Media
Holdings, Inc.'s ability to continue as a going concern, following
its 2009 results.  The independent auditors noted of the Company's
significant short-term debt obligations.

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

               http://researcharchives.com/t/s?6e3f

                        About Crown Media

Studio City, Calif.-based Crown Media Holdings, Inc. (NASDAQ:
CRWN) -- http://www.hallmarkchannel.com/-- owns and operates
cable television channels dedicated to high quality, broad appeal,
entertainment programming.  The Company currently operates and
distributes Hallmark Channel in both high definition (HD) and
standard definition (SD) to 90 million subscribers in the U.S.
Crown Media also operates a second 24-hour linear channel,
Hallmark Movie Channel, available in both HD and SD, which focuses
on family-friendly movies with a mix of classic theatrical films,
presentations from the acclaimed Hallmark Hall of Fame library,
original Hallmark Channel movies and special events.


CRYOPORT INC: Amends Master Consulting, Engineering Services Pact
----------------------------------------------------------------
CryoPort, Inc., has entered into a Second Amendment to Master
Consulting and Engineering Services Agreement, which amends an
October 9, 2007 Master Consulting and Engineering Services
Agreement between the parties, as amended by that certain April
23, 2009 First Amendment to Master Consulting and Engineering
Services Agreement between the parties.

The parties entered into the Second Amendment to clarify their
mutual intent and understanding that all license rights granted to
the Company under the Agreement, as amended, will survive any
termination or expiration of the Agreement.

In recognition that the Company has paid KLATU less than the
market rate for comparable services, the Second Amendment provides
that if the Company terminates the Agreement without cause, which
the Company has no intention of doing, or liquidates, KLATU will
be entitled to receive additional consideration for its services
provided from the commencement of the Agreement through the date
of termination which additional compensation won't be less than
$2 million plus two times the "cost of work".  Additional
compensation that would be paid in three equal installments within
12 months following the date the amount of the additional
compensation is determined.

The Second Amendment clarifies the scope of the licenses granted
to the Company under the Agreement and the limitations with
respect to the ability of KLATU to directly or indirectly develop
or commercialize, or grant to any affiliate or third party the
right to directly or indirectly develop or commercialize, any
technology or services or products competitive with the "developed
technology" within the "field of use", each as defined in the
Agreement, as amended.

A copy of the Second Amendment will be filed as an exhibit to the
Company's Quarterly Report on Form 10-Q for the quarter ended
December 31, 2010.

                       About CryoPort Inc.

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

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

                           Going Concern

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


CYNERGY DATA: Wins Approval of Disclosure Statement
---------------------------------------------------
Cynergy Data LLC, which sold most of its assets last year,
received bankruptcy court approval Friday for its disclosure
statement as the Company moves forward on a Chapter 11 liquidation
plan that envisions minimal recovery for creditors, Bankruptcy
Law360 reports.

According to Bill Rochelle, the bankruptcy columnist for Bloomberg
News, under the liquidating Chapter 11 plan, remaining assets
won't pay anything aside from lawsuit recoveries to anyone except
holders of first-lien debt.  The plan confirmation hearing is
tentatively set for Dec. 21.  The plan is founded on a settlement
with secured lenders.

                         About Cynergy Data

Launched in 1995, Cynergy Data was a merchant credit card
processing service provider.  The Company and two affiliates --
Cynergy Data Holdings, LLC, and Cynergy Prosperity Plus, LLC --
filed for Chapter 11 bankruptcy protection on September 1, 2009
(Bankr. D. Del. Case No. 09-13038).  Cynergy Data said that it had
assets of $109.5 million against debts of $186.1 million as of
June 30, 2009.

The Company's legal advisor is Nixon Peabody LLP; its financial
and restructuring advisor is CM&D Management Services LLC; its
industry expert is Unicorn Partners, LLC; and its investment
bankers are Stifel, Nicolaus & Company and Peter J. Solomon
Company.  The Company also hired Pepper Hamilton LLP as bankruptcy
and restructuring counsel.  Charles D. Moore of Conway MacKenzie,
Inc., serves as chief restructuring officer.  Kurtzman Carson &
Consultants LLC serves as claims and notice agent.

Cynergy Data filed for Chapter 11 to complete the sale of all of
its assets to an affiliate of The ComVest Group.  The $81 million
sale was completed October 2009.  The Debtor was renamed to
Liquidation Co. LLC following the sale.


CYTEC INDUSTRIES: Moody's Upgrades Ratings on Senior Debt
---------------------------------------------------------
Moody's Investors Service upgraded Cytec Industries Inc.'s senior
unsecured debt ratings to Baa2 from Baa3.  The upgrade reflects
Moody's belief that the company has made significant progress
improving credit metrics, and, year-over-year improvements in
revenue and EBITDA.  Over the last year Cytec has outperformed
many companies in the chemical industry and when combined with
debt reduction current credit metrics support a Baa2 rating.
Moody's also expects that Cytec's ongoing business profile and
growth strategies will also result in credit metrics that are in
keeping with a one notch upgrade to Baa2.  The outlook is stable.

"Moody's does not anticipate material changes in management's
conservative financial policies specifically as it relates to
acquisitions and programs to reward shareholders," said Moody's
analyst Bill Reed.

This summarizes the Cytec ratings activity:

                         Ratings upgraded

* Senior unsecured notes 4.60% due 2013 -- raised to Baa2 from
  Baa3

* Senior unsecured notes 6.0% due 2015 -- raised to Baa2 from Baa3

* Senior unsecured notes 8.95% due 2017 -- raised to Baa2 from
  Baa3

* Senior unsecured shelf -- raised to (P)Baa2 from (P)Baa3 and
  (P)Baa3 from (P)Ba1

                        Ratings Rationale

The Baa2 ratings reflect Cytec's moderate leverage; product,
customer, and geographic diversification; good business scale;
and leading market positions in such products as carbon fiber,
mining chemicals and eco friendly resins.  Cytec's ratings are
supported by a relatively stable portfolio of businesses that
even while being pressured by the difficult economic climate in
late 2008 and early 2009 have since produced solid operating
margins.  Moreover the $150 million in balance sheet debt
reduction, and material increases in operating cash flows over
the last six quarters have been bolstered by management's cost
saving and restructuring efforts.  The ratings reflect Moody's
expectation that the company will continue to generate over
$80 million of free cash flow over 2011.  Cytec's history of
operating performance and free cash flow generation along with
management's success in implementing productivity and cost saving
initiatives also provide support to the rating.  Historically,
Cytec's management has a positive track record of bolstering
liquidity during times of operational weakness, and Moody's
believe various restructuring initiatives produced positive
results.  The Baa2 ratings continue to reflect Moody's belief
that the company will generate at least $250 million of cash
from operations in 2011 and that EBITDA to interest will remain
on average above 8.0 times over the next two years.  Furthermore
Cytec should be able to generate annual credit metrics that
support the Baa2 rating, including retained cash flow to total
debt averaging 30% and free cash flow to total debt averaging 14%
over the next two years with the benefit of cash generated from
operations and past restructuring initiatives.

The stable outlook reflects Moody's expectation that the company
will generate at least $200 million of free cash flow in 2010, and
that it will sustain the current volume of business in 2011.  The
ratings have limited upgrade potential until management further
demonstrates its ongoing financial philosophy for the company.
Specifically, Moody's expects management to pursue bolt-on
acquisitions in order to grow the business in excess of GDP growth
rates.  After this period, if stronger-than-expected demand
results in a sustainable annual retained cash flow to adjusted
debt above 30% a positive ratings action of no more than one notch
might be possible.  Conversely, the ratings or outlook could be
lowered if a debt-financed acquisition or a reversal in recent
positive demand trends results in adjusted debt to EBITDA
exceeding 3.0 times.  Moody's notes that further debt reduction in
2011 and 2012 is likely to be limited.  Moody's has factored into
its stable outlook bolt-on acquisitions, modest share repurchase
programs and dividend increase as appropriate mechanisms to return
cash to shareholders.  Moody's believes that these shareholder
rewards will remain consistent and balanced with the goal of
maintaining a Baa2 investment grade profile.

Cytec, headquartered in Woodland Park, New Jersey, is a global
producer of a diverse range of specialty chemicals and materials
for industries including aerospace, plastics, inks, adhesives and
automotive.  Cytec operates through these five business segments:
Coating Resins, Additive Technologies, In Process Separation,
Engineered Materials, and Building Blocks.  Revenues were
$3.3 billion for the LTM ended September 30, 2010.


DANIEL KELLY: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: Daniel C. Kelly
               Kimberly Q. Kelly
               798 Buckhorn Road
               Sanford, NC 27330

Bankruptcy Case No.: 10-09327

Chapter 11 Petition Date: November 10, 2010

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

Debtor's Counsel: Richard D. Sparkman, Esq.
                  RICHARD D. SPARKMAN & ASSOC., P.A.
                  P.O. Drawer 1687
                  Angier, NC 27501
                  Tel: (919) 639-6181
                  E-mail: rds@sparkmanlaw.com

Estimated Assets: $0 to $50,000

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/nceb10-09327.pdf

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
David W. and Tamara W. Kelly           10-09329   11/10/10
Kelly Farms, a North Carolina
  Partnership                          10-09324   11/10/10
Rebecca S. Kelly                       10-09331   11/10/10


DARA BIOSCIENCES: NASDAQ Grants Request for Continued Listing
-------------------------------------------------------------
DARA BioSciences, Inc., disclosed that a NASDAQ Listing
Qualifications Panel has granted the Company's request for an
extension of time, as permitted under NASDAQ's Listing Rules, to
comply with the $2.5 million stockholders' equity requirement for
continued listing on The NASDAQ Capital Market.  In accordance
with the Panel's decision, on or before December 31, 2010, the
Company must notify the Panel that it has regained compliance with
the $2.5 million stockholders' equity requirement, and thereafter,
on or before February 14, 2011, the Company must file a Form 8-K
with the Securities and Exchange Commission evidencing its
compliance with the $2.5 million stockholders' equity requirement
as of December 31, 2010, among other things.  Under NASDAQ's
rules, February 14, 2011, represents the maximum length of time
that a Panel may grant the Company to regain compliance.

The determination follows the Company's hearing before the Panel
on October 7, 2010, at which the Panel considered the Company's
plan to regain and sustain compliance with the $2.5 million
stockholders' equity requirement.  While the Company is working
diligently to regain and sustain compliance with all applicable
requirements for continued listing on NASDAQ, there can be no
assurance that the Company will be able to do so.

                     About DARA BioSciences

DARA BioSciences, Inc. is a Raleigh, North Carolina based
biopharmaceutical development company that acquires promising
therapeutic candidates and develops them through proof of concept
in humans for subsequent sale or out-licensing to larger
pharmaceutical companies.  Presently DARA has two drug candidates
with cleared IND (Investigational New Drug) Applications from the
United States FDA.  The Company has a pipeline of diverse drug
candidates at various stages of development, with 82 granted
patents and 56 pending applications.  The first drug candidate
KRN5500 has successfully completed a Phase 2 clinical trial
treating neuropathic pain in patients with cancer. KRN5500 met its
primary endpoint and was statistically significantly (p=0.03)
better than placebo.  A second Phase 2 clinical trial is planned
during the first half of 2011.  The second drug candidate DB959 is
a highly selective, non-thiazolidinedione (TZD), first-in-class
dual PPAR (peroxisome proliferator activated receptor) delta/gamma
agonist in development for type 2 diabetes.  A Phase 1 clinical
study for DB959 is underway and the Company plans to announce
results in the second half of 2010.  In addition, DARA owns CPT-1
inhibitors intended for topical application for patients with
psoriasis, a library of DDPIV inhibitors and a diverse library of
approximately 1800 PPAR agonists of various molecular modalities.
PPAR receptors are found throughout the human body and recent
publications report that PPAR agonists may be useful in the
treatment of Alzheimer's disease, cystic fibrosis, liver disease,
and a variety of autoimmune diseases.  Because its diverse PPAR
library has the potential to address the unmet medical needs of
these diseases, the Company plans to explore several of these
indications.


DARBY BANK & TRUST CO: Closed; Ameris Bank Assumes All Deposits
---------------------------------------------------------------
Tifton Banking Company of Tifton, Ga., and Darby Bank & Trust Co.
of Vidalia, Ga., were closed on Friday, November 12, 2010, by the
Georgia Department of Banking and Finance, which appointed the
Federal Deposit Insurance Corporation as receiver.  To protect
depositors, the FDIC entered into a purchase and assumption
agreement with Ameris Bank of Moultrie, Ga., to acquire the
banking operations, including all the deposits, of the two failed
Georgia-based institutions.  The two closed institutions were not
affiliated with one another.

The branches of the two closed institutions will reopen as
branches of Ameris Bank under their normal business hours,
including those with Saturday hours.  Depositors will
automatically become depositors of Ameris Bank.  Deposits will
continue to be insured by the FDIC, so there is no need for
customers to change their banking relationship to retain their
deposit insurance coverage up to the applicable limits.  Tifton
Banking Company operated one branch in Tifton, Georgia, and Darby
Bank & Trust Co. operated seven branches in Georgia.

Customers of the two failed institutions should continue to use
their former branches until they receive notice from Ameris Bank
that it has completed systems changes to allow other Ameris Bank
branches to process their accounts as well.

As of September 30, 2010, Tifton Banking Company had total assets
of $143.7 million and total deposits of $141.6 million, and Darby
Bank & Trust Co. had total assets of $654.7 million and total
deposits of $587.6 million.  Besides assuming all the deposits
from the two Georgia institutions, Ameris Bank will purchase
virtually all their assets.

The FDIC and Ameris entered into a loss-share transaction on
$560.2 million of the failed institutions' assets.  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 the transactions can call the
FDIC toll free: for Tifton Banking Company customers, 1-800-822-
0412, and for Darby Bank & Trust Co. customers, 1-800-823-5028.
Interested parties can also visit the FDIC's Web site:

for Tifton Banking Company:

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

and for Darby Bank & Trust Co.:

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

The FDIC estimates that the cost to the Deposit Insurance
Fund will be $24.6 million for Tifton Banking Company and
$136.2 million for Darby Bank & Trust Co.  Compared to other
alternatives, Ameris Bank's acquisition of all the deposits
of the two institutions was the least costly option for the
FDIC's DIF.

The two closed institutions were the 144th and 145th banks to fail
in the nation this year, and the 17th and 18th banks to close in
Georgia.  Prior to these failures, the last bank closed in the
state was The Gordon Bank, Gordon, on October 22, 2010.

                           *     *     *

Edwin W. Hortman, Jr., President & CEO of Ameris commented, "We
are appreciative of the opportunity to welcome customers and
employees of both Darby Bank & Trust Co. and Tifton Banking
Company to the Ameris Bank family.  Customers can be confident
that their deposits are safe and readily accessible.  Ameris Bank
has supported the financial needs of local communities since 1971.
It is exciting to gain new locations in and near established
offices that will further complement our existing presence in
these markets."

As a result of the Darby Bank & Trust Co. acquisition, Ameris Bank
will assume approximately $590.3 million in total deposits and
$402.4 million in total loans. Approximately $144.6 million in
total deposits and $118.9 million in total loans will be assumed
as a result of the Tifton Banking Company acquisition.
Substantially all of the loans and certain assets purchased from
the FDIC are covered under loss-sharing agreements that afford the
Company significant protection from losses.

Ameris Bank is a wholly-owned subsidiary of Ameris Bancorp,
headquartered in Moultrie, Georgia.


DAVID KELLY: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Joint Debtors: David W. Kelly
               Tamara W. Kelly
                 aka Tamara Lee Kelly
                 aka Tamara Lee Whitt
               508 Thomas Kelly Road
               Sanford, NC 27330

Bankruptcy Case No.: 10-09329

Chapter 11 Petition Date: November 10, 2010

Court: U.S. Bankruptcy Court
       Eastern District of North Carolina (Wilson)

Debtors' Counsel: Richard D. Sparkman, Esq.
                  RICHARD D. SPARKMAN & ASSOC., P.A.
                  P.O. Drawer 1687
                  Angier, NC 27501
                  Tel: (919) 639-6181
                  E-mail: rds@sparkmanlaw.com

Estimated Assets: $0 to $50,000

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/nceb10-09329.pdf

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Daniel C. and Kimberly Q. Kelly       10-09327            11/10/10
Kelly Farms, a NC General Partnership 10-09324            11/10/10
Rebecca S. Kelly                      10-09331            11/10/10


DELTA MUTUAL: Delays Filing of Form 10-Q for Third Quarter
----------------------------------------------------------
Delta Mutual Inc. said it could not timely file its quarterly
report on Form 10-Q for the period ended Sept. 30, 2010, with the
Securities and Exchange Commission because management is in the
process of finalizing the operating results of the third quarter
of the 2010 fiscal year.

Delta Mutual reported a net loss of $197,956 on zero revenue for
the three months ended June 30, 2010, compared with net loss of
$455,513 on zero revenue for the same period a year ago.

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

                        About Delta Mutual

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

                          *     *     *

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


DEUCE INVESTMENTS: Confirmation Hearing Continued Until Dec. 15
---------------------------------------------------------------
The Hon. Randy D. Doub of the U.S. Bankruptcy Court for the
Eastern District of North Carolina has continued until
December 15, 2010, at 9:30 a.m., the hearing to consider the
confirmation of Deuce Investments, Inc.'s Plan of Liquidation.

As reported in the Troubled Company Reporter on August 4, the
Debtor Plan proposes to pay its creditors under the Plan through
the liquidation of all of its real and personal property.

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

                  About Deuce Investments, Inc.

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


DEX MEDIA EAST: Bank Debt Trades at 18% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Dex Media East,
LLC, is a borrower traded in the secondary market at 81.79 cents-
on-the-dollar during the week ended Friday, November 12, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.83
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 202 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.


DIAMOND DECISIONS: Ch.11 Trustee Okayed to Sell Assets for $1.3MM
-----------------------------------------------------------------
The Hon. Richard M. Neiter, the U.S. Bankruptcy Court for the
Central District of California authorized Howard Grobstein, the
Chapter 11 Trustee in the reorganization case of Diamond Decisions
Inc., to sell certain of the Debtor's assets to Agile Opportunity
Fund, LLC, for $1,325,000.

The sale was free and clear of liens, interests and encumbrances.

Los Angeles, California-based Diamond Decisions Inc., filed for
Chapter 11 bankruptcy protection on February 12, 2010 (Bankr. C.D.
Calif. Case No. 10-15109).  Brent H. Blakely, Esq., who has an
office in Hollywood, California, represents the Debtor.  The
Debtor disclosed $1,235,599 in assets and $20,160,090 in
liabilities as of the Petition Date.


DORMITORY AUTHORITY: Fitch Affirms 'BB+' Rating to $260 Mil. Bonds
------------------------------------------------------------------
Fitch Ratings has affirmed its 'BB+' rating on the approximately
$260 million Dormitory Authority of the State of New York, Orange
Regional Medical Center Project, revenue bonds series 2008.  The
Rating Outlook is Stable.

Rating Rationale:

  -- The 'BB+' rating reflects Orange Regional Medical Center's
     high debt burden and weak balance sheet.  Credit strengths
     include its leading market share position and improving
     profitability.

  -- ORMC is in the process of rebuilding a replacement hospital,
     which is on time and on budget, and is expected to be
     complete by April 2011.

  -- ORMC's profitability has improved over the last three years
     with solid operating margins of 3.6% for the nine months
     ended Sept. 30, 2010, 4.9% in fiscal 2009 and 3.3% in fiscal
     2008 due to improved managed care contracting and increased
     volume.

  -- The balance sheet is weak relative to its debt load with only
     26.7% cash to debt at Sept. 30, 2010; however, days cash on
     hand of 84.9 is in line with a below investment grade credit.

  -- Although the forecasted liquidity ratios from management's
     initial projections have not been met, further erosion is not
     expected since the remaining spend on the replacement
     facility will be funded from the series 2008 bond proceeds.

Key Rating Drivers:

  -- Completion of the replacement hospital on time and within
     budget with a smooth transition to the new facility.

  -- Despite the strong operating performance for the rating
     category, upward movement of the rating is limited until
     ORMC's balance sheet significantly improves.

Security:

Debt payments are secured by a gross receipts pledge and a
mortgage pledge.  Financial covenants include a 1.1 times maximum
annual debt service coverage and 45 days cash on hand (prior to
new hospital occupancy), which is expected for a below investment
grade credit.

Credit Summary:

The rating affirmation reflects Orange Regional Medical Center's
leading market share position in its service area, a replacement
hospital construction project that is on time and within budget,
and sustained improved profitability.  Offsetting credit factors
include high debt burden and weak liquidity relative to its debt
load.

ORMC has a leading market position in its primary and secondary
service area of 36.4% for 2009, which has remained stable from
36.3% in 2007.  The hospital with the next largest market share is
St. Luke's Cornwall Hospital with 19.2% in 2009.  ORMC's volume
has continued to increase despite the economic environment due to
successful physician recruitment, which has allowed it to add more
services.  ORMC also engaged Navigant to develop a physician
integration strategy since a third of its admissions are from a
large multispecialty group (Crystal Run) and the remaining
admissions from physician practices of five physicians or less.
Acute discharges were up 2.2% for the nine months ended Sept. 30,
2010 (interim period) compared to the prior year period.

The replacement hospital project financed with the series 2008
bonds remains on time and within budget and is almost complete and
expected to be finished at the end of April 2011.  The new
facility will replace ORMC's operations at its two existing
campuses -- Arden Hill and Horton.  Management has planned a 14
week transition period where the staff will be trained at the new
facility with the move-in to the new facility occurring on one day
in the summer of 2011.  Management expects improved productivity
with the move to the new facility.  Fitch remains concerned about
ORMC's ability to transition to the new facility without a
significant disruption to its financial profile, which may result
in one time increased expenses.  The remaining series 2008 bond
proceeds ($89 million) will fund the rest of the project cost with
no additional equity contribution expected.

Profitability improvement has continued for the third year in a
row with an operating gain of $8.9 million (3.6% operating margin)
for the interim period compared to $16 million (4.9% operating
margin) in fiscal 2009 and $9.9 million (3.3% operating margin) in
fiscal 2008.  The operational improvement has been driven by
increased volume and strong managed care rate increases, which
management expects will continue.  Despite solid profitability,
MADS coverage is adequate due to the high debt burden.  MADS
coverage was 1.1x for the interim period compared to 1.4x in
fiscal 2009 and 1.2x in fiscal 2008.  MADS comprises 6.1% of total
revenue compared to the BBB rating category median of 3.5%.

Unrestricted cash and investments as of Sept. 30, 2010, were
$69.5 million or 84.9 days operating expenses, which was stable
from $67.9 million or 87 days operating expenses at fiscal year
end 2009 and in line with below investment grade median ratios.
Although the liquidity balances are below forecasted levels, they
are adequate and should not place rating pressure on the 'BB+'
rating unless its profitability deteriorates.  Management's
projections at the time of the series 2008 issuance was 132.1 days
cash on hand for fiscal 2009 and 172.6 days for fiscal 2010.
Fitch expects liquidity to remain stable to steadily improve since
no additional equity contribution is expected for the project.

The Stable Outlook is based on Fitch's expectation that ORMC will
complete its replacement facility on time and within budget.
Upward movement of the rating is dependent on ORMC successfully
operating in the new facility with limited impact to its financial
profile in addition to significantly improving its liquidity
position.

ORMC is a two-hospital system with a total of 450 licensed beds in
Middletown and Goshen, NY, located about 65 miles northwest of New
York City.  Both hospitals will be replaced by a new 374-bed
facility in 2011, which will be located in the town of Wallkill,
NY, equidistant from the existing hospitals.  Total revenue in
fiscal 2009 was $323 million.  ORMC covenants to provide annual
audited information within 150 days of fiscal year end and
unaudited quarterly statements within 45 days of quarter end for
the first three quarters and within 60 days of the end of the
fourth quarter.


DUNE ENERGY: Posts $9 Million Net Loss in September 30 Quarter
--------------------------------------------------------------
Dune Energy Inc. filed its quarterly report on Form 10-Q,
reporting a net loss of $9.10 million on $15.60 million of
revenues for the three months ended Sept. 30, 2010, compared with
a net loss of $11.26 million on $11.34 million of revenues for the
same period a year ago.

The Company's balance sheet at Sept. 30, 2010, showed
$296.72 million in total assets, $343.46 million in total
liabilities, and a stockholder's deficit of $248.48 million.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6e50

                        About Dune Energy

Dune Energy, Inc. (NYSE AMEX: DNE) -- http://www.duneenergy.com/
-- is an independent energy company based in Houston, Texas.
Since May 2004, the Company has been engaged in the exploration,
development, acquisition and exploitation of natural gas and crude
oil properties, with interests along the Louisiana/Texas Gulf
Coast.  The Company's properties cover over 90,000 gross acres
across 27 producing oil and natural gas fields.

                          *     *     *

Dune Energy carries a 'CCC-' corporate credit rating, with
negative outlook, from Standard & Poor's. S&P said in April 2010
that "the company's heavy debt burden makes the prospects of a
distressed exchange or bankruptcy a distinct possibility."
Dune Energy has a 'Ca' corporate family rating from Moody's.


DURABLA CANADA: Case Summary & 10 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Durabla Canada Ltd.
        293 University Avenue
        Bellville, ON KBN 5B3
        Canada

Bankruptcy Case No.: 10-13593

Chapter 11 Petition Date: November 8, 2010

Court: U.S. Bankruptcy Court
       District of Delaware (Delaware)

Judge: Mary F. Walrath

Debtor's Counsel: Chad Joseph Toms, Esq.
                  Thomas Joseph Francella, Jr., Esq.
                  WHITEFORD TAYLOR PRESTON LLC
                  1220 North Market Street, Suite 608
                  Wilmington, DE 19801
                  Tel: (302) 357-3253
                       (302) 357-3252
                  Fax: (302) 357-3273
                       (302) 357-3272
                  E-mail: ctoms@wtplaw.com
                          tfrancella@wtplaw.com

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

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

A list of the Company's 10 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/deb10-13593.pdf

The petition was signed by Kevin Kent, president.

Debtor-affiliate that filed separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Durabla Manufacturing Company         09-14415            12/15/09


ELKINS PROPERTIES: Case Summary & 4 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Elkins Properties, LLC
          dba Southwood Mini Storage
          dba Calimesa Professional Plaza
        1096 Calimesa Blvd
        Calimesa, CA 92320

Bankruptcy Case No.: 10-46442

Chapter 11 Petition Date: November 10, 2010

Court: United States Bankruptcy Court
       Central District Of California (Riverside)

Judge: Meredith A. Jury

Debtor's Counsel: Robert S. Altagen, Esq.
                  LAW OFFICES OF ROBERT S. ALTAGEN
                  1111 Corporate Ctr Dr #201
                  Monterey Park, CA 91754
                  Tel: (323) 268-9588
                  Fax: (323) 268-8742
                  E-mail: rsaink@earthlink.net

Scheduled Assets: $3,015,500

Scheduled Debts: $3,453,345

A list of the Company's four largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-46442.pdf

The petition was signed by C. Thomas Elkins, managing member.


EMMIS COMMUNICATIONS: Moody's Affirms 'Caa2' Corp. Family Rating
----------------------------------------------------------------
Moody's Investors Service affirmed the Caa2 Corporate Family
Rating and Caa3 Probability of Default rating for Emmis
Communications Corporation, as well as its SGL-4 speculative grade
liquidity rating.  Operating performance improved with the
economic recovery, but absent debt reduction with proceeds from an
asset sale or equity infusion Emmis will likely breach its
leverage covenant when the covenant suspension period ends for the
quarter ending November 30, 2011, in Moody's opinion.

A summary of the actions is:

Emmis Communications Corporation

  -- Affirmed Caa2 Corporate Family Rating

  -- Affirmed Caa3 Probability of Default Rating

  -- Affirmed SGL-4 Speculative Grade Liquidity Rating

  -- Preferred Stock, Affirmed Ca, LGD adjusted to LGD6, 98% from
     LGD6, 97%

  -- Outlook, Negative

Emmis Operating Company

  -- Senior Secured Bank Credit Facility, Affirmed Caa2, LGD
     adjusted to LGD3, 35% from LGD3, 34%

Emmis' Caa2 corporate family rating and Caa3 probability of
default rating incorporate expectations for a covenant breach in
November 2011.  Moody's considers the company's capital structure
unsustainable, and its operations in the cyclical advertising
business magnify this challenge.  Furthermore, Emmis relies on two
markets, Los Angeles and New York, for approximately 50% of its
revenue, although its ownership of stations in top markets
including Chicago as well as NY and LA, support the rating.

The negative outlook incorporates Moody's expectations that Emmis
will not comply with its maximum leverage covenant when effective
for the quarter ending November 30, 2011.

Inability to amend the covenants or otherwise achieve compliance
would likely result in a downgrade.

Upward ratings momentum is unlikely given the highly leveraged
capital structure and the covenant concerns.  However, Moody's
would consider a stable outlook with an amendment providing long
term covenant relief and continued improvement in operations.  The
ratings and / or outlook would likely consider de-leveraging asset
sales favorably.

The most recent rating action on Emmis occurred on June 18, 2009.
At that time, Moody's changed Emmis Communications' senior secured
term loan rating to Caa2 from Ca following the completion of a
series of Dutch auction transactions pursuant to a March 3, 2009
credit facility amendment.

Headquarter in Indianapolis, Indiana, Emmis Communications
Corporation owns and operates 22 radio stations serving New York,
Los Angeles, Chicago, St. Louis, Austin, Indianapolis, and Terre
Haute, as well as national radio networks in Slovakia and
Bulgaria.  The company also publishes six regional and two
specialty magazines.  Its revenue for the twelve months ending
August 31, 2010, was approximately $250 million.


EMISPHERE TECHNOLOGIES: Posts $9.6MM Net Income in Third Quarter
----------------------------------------------------------------
Emisphere Technologies Inc. announced financial and operational
results for the three and nine months ended September 30, 2010.

For the three months ended September 30, 2010, Emisphere reported
net income of $9.6 million, or $0.20 per basic and $0.19 per
diluted share, compared to a net loss of $4.0 million, or $0.11
per basic and diluted share for same period last year.

The Company's balance sheet at Sept. 30, 2010, showed $5.34
million in total assets, $66.23 million in total liabilities, and
a stockholder's deficit of $60.88 million.

The operating loss and total operating expenses for the three
months ended September 30, 2010 were $3.9 million, compared to an
operating loss and total operating expenses of $3.4 million for
the same period last year.  Total operating expenses for the three
months ended September 30, 2010 include research and development
costs of $0.7 million and general and administrative expenses of
$2.5 million, compared to $0.8 million and $2.5 million
respectively, for the same period last year.

Other income for the three months ended September 30, 2010 was
$13.5 million, including a $14.6 million gain from the change in
fair value of derivative instruments related to a decrease to the
Company's stock, the receipt of $0.5 million as the final
installment payment on the sale of a patent to MannKind
Corporation, offset partially by $1.6 million interest expense,
compared to other expense of $0.6 million for the same period
last year.

A full-text copy of the earnings release is available for free
at http://ResearchArchives.com/t/s?6e63

                   About Emisphere Technologies

Based in Cedar Knolls, New Jersey, Emisphere Technologies, Inc.
(OTC BB: EMIS) -- http://www.emisphere.com/-- is a
biopharmaceutical company that focuses on a unique and improved
delivery of pharmaceutical compounds and nutritional supplements
using its Eligen(R) Technology.  The Eligen(R) Technology can be
applied to the oral route of administration as well other delivery
pathways, such as buccal, rectal, inhalation, intra-vaginal or
transdermal.

Emisphere noted in an October 2010 filing with the Securities and
Exchange Commission that since its inception in 1986, it has
generated significant losses from operations.  Emisphere
anticipates it will continue to generate significant losses from
operations for the foreseeable future, and that its business will
require substantial additional investment that it has not yet
secured.

In its March 25, 2010 audit report on the Company's financial
statements for the year ended December 31, 2009, McGladrey &
Pullen, LLP, in New York, said there is substantial doubt about
the Company's ability to continue as a going concern.  The audit
reports prepared by the Company's independent registered public
accounting firms relating to its financial statements for the
years ended December 31, 2007 and 2008, also included an
explanatory paragraph expressing substantial doubt about the
Company's ability to continue as a going concern.


ENERGYCONNECT GROUP: Inks Indemnificatioin Pact with Aequitas
-------------------------------------------------------------
EnergyConnect Group Inc. entered on November 4, 2010, into an
Indemnification Agreement with Aequitas Capital Management, Inc.
in connection with the election of the two directors, pursuant to
which Aequitas Capital Management, Inc. has agreed not to sue the
Company and to cause its nominees not to participate in suits
against the Company under circumstances in which such suit or such
participation could cause the so called "insured v. insured"
exclusion to apply under the Company's D&O insurance policy.

The Board of Directors of the Company has increased the size of
the Board from 7 to 8 members and elected Andrew N. MacRitchie and
Thomas Reiter to fill vacancies on the Board.  Both individuals
were nominated by Aequitas Commercial Finance, Inc., a major
shareholder of the Company, with Mr. Reiter to serve as an
independent director.  Neither of these individuals has been
elected to serve on any committees of the Board.

Aequitas Capital Management, Inc. has further agreed to indemnify
the Company, its directors and officers and other insured persons
under the Company's D&O insurance policy for any losses or costs
resulting from a breach of such covenants to the extent the
"insured v. insured" exclusion under the Company's D&O insurance
policy limits the Company or such other insured persons' coverage
under the Company's D&O insurance policy.

A full-text copy of the Indemnification Agreement is available for
free at http://ResearchArchives.com/t/s?6e5b

                    About EnergyConnect Group

Campbell, Calif.-based EnergyConnect  (OTC BB: ECNG)
-- http://www.energyconnectinc.com/-- is a provider of demand
response services to the electricity grid.  Demand response
programs provide grid operators with additional electricity
generation capacity by encouraging consumers to curtail their
electricity usage.

The Company's balance sheet at July 3, 2010, showed $13.95 million
in total assets, $8.40 million in total current liabilities,
$3.64 million in long-term liabilities, and a $1.91 million
stockholders' equity.

RBSM LLP, in New York, expressed substantial doubt about the
Company's ability to continue as a going concern, following the
Company's results for the year ended Jan. 2, 2010.  The
independent auditors noted that the Company is experiencing
difficulty in generating sufficient cash flow to meet its
obligations and sustain its operations.


ENERGYCONNECT GROUP: Gets $4 Million Revolver from SVB
------------------------------------------------------
On November 5, 2010, EnergyConnect Group Inc. and EnergyConnect
Inc. entered into a $4,000,000 revolving loan credit facility with
Silicon Valley Bank and Partners for Growth.

Advances under the Credit Facility are to be made by the Lenders
to the Borrowers on a formulaic basis based on 100% of the
Company's accounts receivable owed by Pennsylvania New Jersey
Maryland Interconnection LLC and its successors and assigns which
arise in the ordinary course of the Company's business.  Advances
made by the Lenders to the Borrowers under the Credit Facility
accrue interest at a rate of 12.5% per annum.  The obligations of
the Borrowers under the Credit Facility are secured by a first
priority security interest in all of the Borrowers' assets,
including intellectual property.

The Credit Facility contains various representations and
warranties, covenants and events of default typical for a
transaction of this type.  In addition, the Borrowers are required
to:

     i) perform to at least 85% of PJM's requirements for "Load
        Management Event Compliance" for the period from June 1st
        through September 30th,

    ii) maintain a minimum unrestricted cash balance at Silicon
        Valley Bank of at least $1,000,000 at all times, and

   iii) achieve confirmed registrations for the 2011 PJM "Capacity
        Program" of at least $20,000,000 by March 31, 2011.

A violation of one or more of these covenants or the occurrence of
certain other events could result in a default permitting the
termination of the Lenders' commitments under the Credit Facility
and the acceleration of any loan amounts then outstanding.  The
Borrowers shall use the proceeds advanced under the Credit
Facility solely as working capital and to fund their general
business requirements.  As partial consideration for providing the
Borrowers with the Credit Facility, the Company granted to the
Lenders a 7 year warrant to purchase 3,750,000 shares of the
Company's common stock at a price per share of $0.15.

A full-text copy of the Loan And Security Agreement is available
for free at http://ResearchArchives.com/t/s?6e5c

                    About EnergyConnect Group

Campbell, Calif.-based EnergyConnect  (OTC BB: ECNG)
-- http://www.energyconnectinc.com/-- is a provider of demand
response services to the electricity grid.  Demand response
programs provide grid operators with additional electricity
generation capacity by encouraging consumers to curtail their
electricity usage.

The Company's balance sheet at July 3, 2010, showed $13.95 million
in total assets, $8.40 million in total current liabilities,
$3.64 million in long-term liabilities, and a $1.91 million
stockholders' equity.

RBSM LLP, in New York, expressed substantial doubt about the
Company's ability to continue as a going concern, following the
Company's results for the year ended Jan. 2, 2010.  The
independent auditors noted that the Company is experiencing
difficulty in generating sufficient cash flow to meet its
obligations and sustain its operations.


ERNIE JACOBSEN: Court Extends Plan Filing Period Until Dec. 20
--------------------------------------------------------------
On September 21, 2010, the U.S. Bankruptcy Court for the Northern
District of Mississippi entered an order extending Ernie Lee
Jacobsen and Donna Jean Jacobsen's exclusive periods to file a
Plan of Reorganization and a Disclosure Statement, and to obtain
acceptances of that Plan, for an additional 90 days, or until
December 20, 2010.

Ernie Lee Jacobsen and Donna Jean Jacobsen filed for Chapter 11
bankruptcy protection on October 29, 2009 (Bankr. N.D. Miss. Case
No. 09-15667).  Craig M. Geno, at Harris Jernigan & Geno, PLLC, in
Ridgeland, Mississippi, represents the Debtors as counsel.  The
Joint Debtors listed assets of $15,283,881 and debts of
$16,518,690 in their schedules.


FAIRPOINT COMMS: Bank Debt Trades at 34% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which FairPoint
Communications, Inc., is a borrower traded in the secondary market
at 65.88 cents-on-the-dollar during the week ended Friday,
November 12, 2010, according to data compiled by Loan Pricing
Corp. and reported in The Wall Street Journal.  This represents an
increase of 1.03 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 March 31, 2015.
Moody's has withdrawn its rating, while Standard & Poor's does not
rate the bank debt.  The loan is one of the biggest gainers and
losers among 202 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

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

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

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

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


FAMOUS RECIPE: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Famous Recipe Company Operations, LLC
        dba Mrs. Winner's Chicken & Biscuits
        P.O. Box 3004
        McDonough, GA 30253

Bankruptcy Case No.: 10-94027

Chapter 11 Petition Date: November 10, 2010

Court: United States Bankruptcy Court
       Northern District of Georgia (Atlanta)

Debtor's Counsel: John J. McManus, Esq.
                  JOHN J. MCMANUS & ASSOCIATES, P.C.
                  Building H, 3554 Habersham at Northlake
                  Tucker, GA 30084
                  Tel: (770) 492-1000
                  E-mail: jmcmanus@mcmanus-law.com

Scheduled Assets: $2,397,946

Scheduled Debts: $21,906,873

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ganb10-94027.pdf

The petition was signed by Jeffrey D. Miller, managing member.


FAMOUS RECIPE: Tax & Lease Issues Cue Chapter 11 Bankruptcy Filing
------------------------------------------------------------------
The Atlanta Business Chronicle reported that Atlanta-based Famous
Recipe Company Operations LLC dba Mrs. Winner's Chicken & Biscuits
filed for bankruptcy reorganization, bogged down by tax and lease
issues.  The report relates that the Company was having trouble
with lease terms and tax issues.

The Company disclosed assets of $2.4 million and liabilities of
$21.9 million.  The Company said it owes $1.3 million in sales tax
to Georgia Department of Revenue, $5.4 million as guarantors to
Vanguard Bank & Trust of Fort Walton, $2.2 million as guarantor of
loan to Coastal Bank & Trust in Fort Walton Beach, and $2.1
million in payroll taxes to the Internal Revenue Service, says
reports citing court documents.

According to Business Chronicle, a person with knowledge of the
matter said there is a meeting with Jeff Miller, managing member
of Mrs. Winner's, on Nov. 15, 2010.   The person said it hopes to
have a disclosure statement and a plan of reorganization filed
soon.

Famous Recipe Company Operations LLC dba Mrs. Winner's Chicken &
Biscuits owns of the Lee's Famous Recipe franchise.


FREESCALE SEMICON: Bank Debt Trades at 5% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which Freescale
Semiconductor, Inc., is a borrower traded in the secondary market
at 95.15 cents-on-the-dollar during the week ended Friday,
November 12, 2010, according to data compiled by Loan Pricing
Corp. and reported in The Wall Street Journal.  This represents an
increase of 0.57 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
202 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

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.

Freescale Semiconductor Holdings I, Ltd. carries a 'CCC' issuer
default rating from Fitch Ratings.

Freescale carries a B-/Stable/-- corporate credit rating from
Standard & Poor's.  "The rating on Freescale," said Standard &
Poor's credit analyst Lucy Patricola, "reflects S&P's expectation
that the company will continue on its current path to generate
over $800 million of EBITDA for 2010.  S&P expects leverage to
remain high but free cash flow to be slightly positive, preserving
existing cash balances of $1 billion."


FRENCH BROAD: Court Denies Motion to Dismiss or Convert Case
------------------------------------------------------------
The Hon. George R. Hodges of the U.S. Bankruptcy Court for the
Western District of North Carolina denied the motion to dismiss
or, in the alternative, convert the Chapter 11 case of FrenchBroad
Place, LLC, to one under Chapter 7 of the Bankruptcy Code.

The Bankruptcy Administrator, in its request for dimissal or
conversion, explained that the Debtor failed to comply with the
terms of the Court's operating order in that the Debtor failed to
pay all quarterly fees due; failed to timely file a Plan and
Disclosure Statement despite the approval of DIP financing on
August 6, 2010.

Brevard, North Carolina-based French Broad Place LLC filed for
Chapter 11 bankruptcy protection on March 25, 2010 (Bankr. W.D.
N.C. Case No. 10-10335).  Edward C. Hay, Jr., Esq., at Pitts, Hay
& Hugenschmidt, P.A., represents the Debtor.  The Company
disclosed $20,171,100 in assets and $14,395,245 in liabilities.


FRENCH BROAD: Hearing on Adequacy of Plan Outline Set for Dec. 7
----------------------------------------------------------------
The Hon. George R. Hodges of the U.S. Bankruptcy Court for the
Western District of North Carolina will convene a hearing on
December 7, 2010, at 10:00 a.m., to consider adequacy of the
Disclosure Statement explaining French Broad Place LLC's Plan of
Reorganization.  Objections, if any, are due November 29.

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 provides for the
restructuring of its capital requirements and operations.  All
secured creditors will retain their prepetition liens.  The Debtor
will also maintain full insurance coverage long as claims remain
unpaid.

Under the Plan, Metromont Corporation, the DIP lender, will
receive 10% per annum accrued interest for a period of 13 months,
principal reduction will be paid periodically as future inventory
sales close on account of Metromont's secured claim.  Metromont
will receive 40% of all future net sales proceeds to be applied to
the principal loan balance outstanding.

Ashville Savings Bank will receive 40% of all future sales net
proceeds applied to the principal loan balance outstanding on
account of Ashville's impaired secured claim.  Once the DIP loan
is repaid 100%, then 80% of the future NSP will be paid to
AShville as loan principal reduction until paid in full with
interest at the contract rate.

The impaired secured claim of Metromont will not be paid interest
nor principal during the DIP loan tenure.

General unsecured creditors will be paid in full over a period of
three years.

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

The Debtor is represented by:

     Edward C. Hay, Jr., Esq.
     PITTS, HAY & HUGENSCHMIDT, P.A.
     137 Biltmore Avenue
     Asheville, NC 28801

                   About French Broad Place LLC

Brevard, North Carolina-based French Broad Place LLC, is a 48 unit
mixed use community.  The Company filed for Chapter 11 protection
on March 25, 2010 (Bankr. W.D. N.C. Case No. 10-10335).  The
Company disclosed $20,171,100 in assets and $14,395,245 in
liabilities.


GARY LOGAN: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Joint Debtors: Gary William Logan, Jr.
               Tracy Denise Logan
                aka Tracy Chaplik
               11910 East Border Oak
               Magnolia, TX 77354

Bankruptcy Case No.: 10-40218

Chapter 11 Petition Date: November 8, 2010

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

Judge: Marvin Isgur

Debtor's Counsel: Margaret Maxwell McClure, Esq.
                  909 Fannin, Suite 3810
                  Houston, TX 77010
                  Tel: (713) 659-1333
                  Fax: (713) 658-0334
                  E-mail: margaret@mmmcclurelaw.com

Scheduled Assets: $844,950

Scheduled Debts: $2,009,334

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txsb10-40218.pdf


GLOBAL CROSSING: $150-Mil. Sr. Notes to Have Issue Price of 100%
----------------------------------------------------------------
Global Crossing Limited said it intends to offer $150 million of
its senior notes due 2019 in a private placement to qualified
institutional buyers in accordance with Rule 144A and Regulation S
under the Securities Act of 1933, as amended.  The purpose of the
offering is to refinance Global Crossing Limited's 5% convertible
senior notes due 2011 and to pay related premium, fees and
expenses.

Global Crossing in another statement said it priced a private
placement of $150 million in aggregate principal amount of its 9%
senior unsecured notes due 2019 at an issue price of 100%.  The
senior unsecured notes will be sold to qualified institutional
buyers in accordance with Rule 144A and Regulation S under the
Securities Act of 1933, as amended.

The offering is expected to settle on November 16, 2010, subject
to customary closing conditions.  Global Crossing intends to use
the proceeds of the offering to refinance its 5% convertible
senior notes due 2011 and to pay related premium, fees and
expenses.

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

                        About Global Crossing

Based in Hamilton, Bermuda, Global Crossing Limited (NASDAQ: GLBC)
is a global IP and Ethernet solutions provider with the world's
first integrated global IP-based network.  The company offers a
full range of data, voice and collaboration services with an
industry leading customer experience and delivers service to
approximately 40% of the Fortune 500, as well as to 700 carriers,
mobile operators and ISPs.  It delivers converged IP services to
more than 700 cities in more than 70 countries around the world.

                           *     *     *

As reported by the Troubled Company Reporter on March 31, 2010,
Standard & Poor's Ratings Services raised all its ratings on
Global Crossing, including the corporate credit rating to 'B' from
'B-'.  The outlook is stable.

Standard & Poor's Ratings Services said it assigned its 'CCC+'
issue-level rating and '6' recovery rating to Bermuda-based Global
Crossing Ltd.'s proposed $150 million of senior unsecured notes
due 2019.  The '6' recovery rating indicates S&P's expectation for
negligible (0%-10%) recovery in the event of a payment default.


GLOUCESTER ENGINEERING: Regains Control of European Subsidiary
--------------------------------------------------------------
Gloucester Engineering Co. (GEC), a provider of equipment for the
plastics extrusion and converting industry, announced that it has
won court approval to regain control of its European subsidiary,
Gloucester Engineering Co. Europe ("GEC Europe"). This follows the
dismissal by an Austrian bankruptcy court of Swiss Winding
Invention's appeal of GEC Europe's settlement agreement with its
creditors. GEC Europe has now emerged from bankruptcy.

"We are very pleased with this ruling, as it allows us to move
forward with our European subsidiary as one unified company that
provides global solutions, ranging from sophisticated equipment to
aftermarket service," said Carl Johnson, President of GEC. "GEC is
in the midst of an exciting rebuilding of our business, and we are
confident that adding this key piece of the puzzle will accelerate
our progress in Europe and globally. We thank the Court and our
many European customers that stood by us during this unfortunate
distraction."

GEC Europe filed for bankruptcy protection in March, 2010. On
September 1, 2010, the creditors of the European subsidiary
overwhelmingly approved a settlement offer. However, Swiss Winding
Invention, who was not a party to the bankruptcy proceedings,
appealed the settlement agreement.

Upon the Vienna court's dismissal of Swiss Winding's appeal, the
settlement agreed to between GEC Europe and its creditors became
immediately effective and binding and the bankruptcy case was
closed. The ruling found that not only did Swiss Winding fail to
prove its alleged claim against GEC Europe, but that the original
settlement as proposed by GEC was in the best interest of all
creditors. The ruling also prohibits Swiss Winding from making
further appeals in this case.

In the United States, GEC filed its Plan of Reorganization in
September. The company's Plan of Reorganization is being sponsored
by an affiliate of Blue Wolf Capital Fund II ("Blue Wolf") and has
the support of the Creditors' Committee. The restructuring plan is
subject to approval by the bankruptcy court.

                  About Blue Wolf Capital Partners

Blue Wolf Capital Partners LLC is a private equity firm that
invests in companies in which effective management of
relationships with complex constituencies, such as government and
labor, can change organizations and create value. For additional
information, please visit www.blue-wolf.com.

              About Gloucester Engineering Co.

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

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

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


GUITAR CENTER: Bank Debt Trades at 8% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Guitar Center,
Inc., is a borrower traded in the secondary market at 92.00 cents-
on-the-dollar during the week ended Friday, November 12, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 1.43
percentage points from the previous week, The Journal relates.
The Company pays 350 basis points above LIBOR to borrow under the
facility.  The bank loan matures on October 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 202 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Guitar Center, Inc., headquartered in Westlake Village, Calif., is
the largest musical instrument retailer with 312 stores and a
direct response segment, which operates its websites.  It operates
three distinct musical retail business - Guitar Center (about 70%
of revenue), Music & Arts (about 7% of revenue), and Musician's
Friend (its direct response subsidiary with 24% of revenue).
Total revenue is about $2 billion.

Guitar Center carries 'Caa1' corporate family and probability of
default ratings from Moody's Investors Service.  In December 2009,
Moody's said, "The Caa1 Corporate Family Rating reflects Guitar
Center's very weak credit metrics, particularly its interest
coverage, as a result of its very high level of debt."


GULFSTREAM INT'L: Judge Approves DIP Loan & Cash Collateral
-----------------------------------------------------------
American Bankruptcy Institute reports that Bankruptcy Judge John
K. Olsonon Wednesday approved Gulfstream International Group
Inc.'s interim use of its DIP loan and cash collateral.

The Troubled Company Reporter published a report on November 8,
saying that Gulfstream has sought approval from the Bankruptcy
Court to obtain postpetition secured financing from Victory Park
Capital Advisors, LLC.

The DIP lenders have committed to provide up to $5.0 million, with
$1.5 million to be provided on an interim basis to avoid immediate
and irreparable harm.  A copy of the DIP financing agreement is
available for free at:

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

Brian K. Gart, Esq., at Berger Singerman, P.A., explains that the
Debtors need the money to fund their Chapter 11 case, pay
suppliers and other parties.

The DIP facility will incur interest at 15% per annum.  The
Debtors will prepay three interest payments under the Loan on the
initial closing date.  In the event of a default of event of
default, the DIP Term Loan will bear interest at 20% per annum on
any outstanding advances.

The Loan will be secured by: (i) a perfected first priority lien
on all assets; (ii) a first priority pledge of the capital stock
and equity interest held directly or indirectly by each of the
Debtors; and (iii) constructive control over the Debtors' bank
accounts in similar form and substance of lockbox and control
accounts customary for transactions of this nature exercisable
upon an event of default and stay relief from the Court.

The DIP lien is subject to a carve-out for U.S. Trustee and Clerk
of Court fees; up to $200,000 in fees payable to professional
employed in the Debtors' case; and fees of the committee in
pursuing actions challenging the Lender's lien.

The Debtors are required to pay a host of fees to the Lender,
including: (i) the DIP Term Loan Fee: payment of 2% fee, payable
in cash to the Lender on the initial closing date; (ii) a 3%
success fee, fully earned as of the Final Hearing, payable in cash
to the Lender on the due date; and (iii) a maintenance fee of
$5,000 per month.

The Loan Obligations will become due and payable in full in cash
90 days after the commencement of the bankruptcy cases; or 30 days
after the entry of the interim court order if the final court
order has not been entered prior to the expiration of the 30-day
period.

The Debtors and Lender will continue to cooperate to develop an
agreement for a sale of the Debtors' assets free and clear of
liens and claims, or a Plan of Reorganization, under which the
Lender and the Debtors would be co-sponsors.

Mr. Gart said that the Debtors also ask for the Court's permission
to use the junior lenders' cash collateral says, to provide
additional liquidity.  The Debtors will use the collateral
pursuant to a budget, a copy of which is available for free at:

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

As adequate protection of the junior lenders' interests in the DIP
facility collateral, the Debtors propose that the junior lenders
be granted valid, binding, enforceable and perfected additional
and replacement liens in all property of the Debtors' estates.
The junior lenders have not consented to the use.  The Lender
consents to the Debtors' requested use of the cash collateral.

                 About Gulfstream International

Gulfsteram International Airlines (NYSE Amex:GIA) serves the
public as a regional air carrier based in Fort Lauderdale,
Florida.  GIA operates a fleet of turboprop Beechcraft 19000
aircraft, and specializes in providing travelers with access to
niche locations not typically covered by major carriers.
Specifically, GlA operates more than 150 scheduled flights per
day, serving nine destinations in Florida, 10 destinations in the
Bahamas, five destinations from Continental Airline's hub under
the Department of Transportation's Essential Air Service Program
and supports charter service to Cuba through a services agreement
with Gulfstream Air Charter, Inc., an entity otherwise unrelated
to the Debtors.

GIA operates as a Continental Connection carrier, as well as for
United Airlines, Northwest Airlines and Copa Airlines, through
respective code share agreements.

GIA has 620 employees, including 530 working full-time.

Fort Lauderdale, Florida-based Gulfstream International Group,
Inc., filed for Chapter 11 bankruptcy protection on November 4,
2010 (Bankr. S.D. Fla. Case No. 10-44131).  Brian K Gart, Esq., at
Berger Singerman, P.A., assists the Debtor in its restructuring
effort.  The Debtor estimated its assets at $100,001 to $500,000
and debts at $1 million to $10 million.

Affiliates Gulfstream International Group, Inc., Gulfstream
International Airline, Inc., Gulfstream Training Academy, Inc.,
GIA Holdings Corp., Inc., and Gulstream Connection, Inc., filed
separate Chapter 11 petitions on November 4, 2010.


HALLWOOD ENERGY: D. Brickley Sues J. Aron for Fraudulent Transfer
-----------------------------------------------------------------
Douglas J. Brickley, trustee of Hallwood Energy III Creditors
Trust, has filed with the Bankruptcy Court for the Northern
District of Texas a lawsuit against Goldman Sachs affiliate J.
Aron, alleging that a substantial prepayment penalty on a loan to
a bankrupt energy company was a fraudulent transfer.

The lawsuit stems from the March 2009 bankruptcy of Hallwood.  The
bankruptcy case, as well as the lawsuit against J. Aron, was filed
in U.S. Bankruptcy Court in the Northern District of Texas, Dallas
Division, in front of Judge Stacey Jernigan.

In February 2006, Hallwood entered into a $65 million secured loan
facility with J. Aron.  The loan provided for a prepayment penalty
in the amount of $9.6 million, which was paid off by the Debtors
in April 2007, approximately 14 months later.  The prepayment
penalty represented a 25% penalty on the loan's outstanding
$40 million.  When combined with the default interest, the penalty
represented 34% of the outstanding loan.  In the complaint, the
trustee alleges, among other things, that because Hallwood did not
receive a reasonably equivalent value for the prepayment penalty,
and because Hallwood was insolvent or was rendered insolvent, the
prepayment penalty amount was a fraudulent transfer and should be
disgorged and returned to the Trustee.

According to the complaint, the Prepayment Penalty approximates
neither the damages incurred by J. Aron as a result of prepayment
nor the value of any benefits conferred on the Debtors by
prepayment, but rather constitutes an egregious penalty which is
grossly disproportionate to the value added to the debtors or
damages suffered by J. Aron.

Based in Dallas, Texas, Hallwood Energy, L.P. --
http://www.hallwoodenergy.com/-- is an upstream energy
corporation, engaging in the exploration, acquisition, development
and production of oil and gas properties.

The Company and five of its affiliates filed separate petitions
for Chapter 11 relief on March 1, 2009 (Bankr. N.D. Tex. Lead Case
No. 09-31253).  Kathleen M. Patrick, Esq., Michael R. Rochelle,
Esq, Scott Mark DeWolf, Esq., and Sean Joseph McCaffity, Esq., at
Rochelle McCullough L.L.P., represent the Debtors in their
restructuring efforts.

Blackhill Partners LLC serves as the Debtors' business consultant.
Brian A. Kilmer, Esq., at Okin Adams & Kilmer LLP, in Dallas, and
Brian D. Roman, Esq., at Okin Adams & Kilmer LLP, in Houston,
represent the official committee of unsecured creditors.  In its
bankruptcy petition, Hallwood listed assets between $50 million
and $100 million, and debts between $100 million and $500 million.


HEALTHSOUTH CORP: Discusses Outlook for 2010 to 2013
----------------------------------------------------
HealthSouth Corporation held an investor meeting in New York on
November 11, 2010.  Representatives of the Company conducted a
slide presentation that showed, among other things, the Company's
business model and outlook for the 2011 to 2013 planning horizon,
including deleveraging, growth, and operational initiatives.  The
outlook includes a less than 4.0x debt to EBITDA ratio, <3.5x debt
to EBITDA ratio for 2011 and approximately 3.0x for 2012 to 2013.

A full-text copy of the slide presentations is available for free
at http://ResearchArchives.com/t/s?6e53

                      About HealthSouth Corp.

Birmingham, Alabama-based HealthSouth Corporation (NYSE: HLS) --
http://www.healthsouth.com/-- is the nation's largest provider of
inpatient rehabilitative healthcare services.  Operating in 26
states across the country and in Puerto Rico, HealthSouth serves
patients through its network of inpatient rehabilitation
hospitals, long-term acute care hospitals, outpatient
rehabilitation satellites, and home health agencies.

The Company's balance sheet at Sept. 30, 2010, showed
$1.79 billion in total assets, $390.0 million in total current
liabilities, $1.64 billion in long-term debt, $162.7 million in
other long-term liabilities, and a stockholder's deficit of
$782.3 million.

HealthSouth carries a 'B1' corporate family rating with "stable"
outlook, from Moody's.  It has 'B' foreign and local issuer credit
ratings, with "positive" outlook, from Standard & Poor's.

On October 1, 2010, according to the Troubled Company Reporter,
HealthSouth's B1 Corporate Family Rating from Moody's reflects the
continued reduction in debt outstanding and management's
commitment to strengthening the company's balance sheet.

Moody's last rating on HealthSouth was on November 16, 2009 when
Moody's assigned a Caa1 (LGD5, 80%) rating to the company's senior
unsecured notes due 2020 and a Ba3 (LGD2, 25%) rating to the new
tranche of term loan due 2014 created in the company's credit
agreement amendment.  Moody's also affirmed HealthSouth's B2
Corporate Family and Probability of Default Ratings at that time.


HERBST GAMING: Bank Debt Trades at 43% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Herbst Gaming,
Inc., is a borrower traded in the secondary market at 57.04 cents-
on-the-dollar during the week ended Friday, November 12, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 1.24
percentage points from the previous week, The Journal relates.
The Company pays 187.5 basis points above LIBOR to borrow under
the facility.  The bank loan 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 202 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

                       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, represented the Debtors in their restructuring
effort.  Herbst Gaming had $919.1 million in total assets and
debts of $1.57 billion as of the Chapter 11 filing.  The
Bankruptcy Court issued an order on January 22, 2010, confirming
the company's amended joint plan of reorganization.  The plan
became effective February 5, 2010.


HF THREE: Files List of 20 Largest Unsecured Creditors
------------------------------------------------------
HF Three I LLC filed with the U.S. Bankruptcy for the District of
Arizona a list of its 20 largest unsecured creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Development Engineering            contract                $18,193
Incorporated
5828 E. Kings Avenue
Scottsdale, AZ 85254

Bonnett Fairbourn et. al.          services                 $6,062
2901 N. Central Avenue, Suite 1000
Phoenix, AZ 85012

Richard H. Lane, Esq.              services                 $1,250
2929 N. 44th Street, Suite 220
Phoenix, AZ 85018

Withey-Morris PLC                  services                   $525
Mike Withey, Esq.
2525 E. Arizona Biltmore
Circle, Suite A-212
Phoenix, AZ 85016

HF Three I LLC is a single-asset real estate company in Paradise
Valley, Arizona.  It filed for Chapter 11 bankruptcy protection on
August 18, 2010 (Bankr. D. Ariz. Case No. 10-26198).  It estimated
its assets and debts at $10 million to $50 million as of the
Petition Date.


HF THREE: Files Schedules of Assets and Liabilities
---------------------------------------------------
HF Three I LLC filed with the U.S. Bankruptcy for the District of
Arizona its schedules of assets and liabilities, disclosing:

     Name of Schedule               Assets        Liabilities
     ----------------             -----------     -----------
  A. Real Property                $26,830,900
  B. Personal Property                     $0
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $21,723,957
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                           $26,030
                                  -----------     -----------
        TOTAL                     $26,830,900     $21,749,987

A copy of the schedules is available for free at:

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

HF Three I LLC is a single-asset real estate company in Paradise
Valley, Arizona.  It filed for Chapter 11 bankruptcy protection on
August 18, 2010 (Bankr. D. Ariz. Case No. 10-26198).  It estimated
its assets and debts at $10 million to $50 million as of the
Petition Date.


HIGHLANDS OF LOS GATOS: Plan Outline Hearing Set for December 14
----------------------------------------------------------------
The Hon. Arthur S. Weissbrodt of the U.S. Bankruptcy Court for the
for the Northern District of California will convene a hearing on
December 14, 2010, at 2:15 p.m., to consider adequacy of the
Disclosure Statement explaining The Highlands of Los Gatos, LLC's
proposed Plan of Reorganization.  Objections, if any, are due
December 9.

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 provides for
payment of secured and priority creditors claims from operating
revenues of the Debtor's business.

Under the Plan, the Debtor proposes to pay to the secured claim of
East-West Bank the full amount of principal plus interest at the
contract rate and any applicable attorney fees and costs.

The Debtor proposes to pay to the secured claim of Marin Mortgage
the full amount of principal plus interest at the contract rate
and any applicable attorney fees and costs in full on or before
24 months after the entry of the order approving the Plan of
Reorganization.

Allowed Unsecured claimants will be paid 100% of their total
claims, without interest, over a period not to exceed 30 months.
No distribution will be made to the unsecured creditors until
the earlier of two years from date of approval of the Plan of
Reorganization or payment in full of the Class A and B claimants.

The Debtor's sole member, Sandy F. Harris, will not be paid any
distribution or any amounts on account of return of equity or
payment of loans until the time as the full amount of the claims
of the Class A, B and C creditors have been paid in full.

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

                About The Highlands of Los Gatos, LLC

Campbell, California-based The Highlands of Los Gatos, LLC, owns
certain real property located in the Town of Los Gatos, county of
Santa Clara.  The real property consists of approximately 66 acres
of land which were developed for construction of single family
residences.  The Company filed for Chapter 11 bankruptcy
protection on July 16, 2010 (Bankr. N.D. Calif. Case No. 10-
57370).  Charles B. Greene, Esq., at the Law Offices of Charles B.
Greene, represents the Debtor.  The Company estimated its assets
and debts at $10 million to $50 million.


I/OMAGIC INC: Posts $99,002 Net Loss in September 30 Quarter
------------------------------------------------------------
I/OMagic Inc. filed its quarterly report on Form 10-Q, reporting a
net loss of $99,002 on $1.31 million of net sales for the three
months ended Sept. 30, 2010, compared with net income of
$58,650 on $2.34 million of net sales for the same period a year
ago.

The Company's balance sheet at Sept. 30, 2010, showed
$2.34 million in total assets, $4.44 million in total liabilities,
and a stockholder's deficit of $2.09 million.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6e62

                            About I/OMagic

Irvine, Calif.-based I/OMagic Corporation sells electronic storage
products and other consumer electronics products in the North
American retail marketplace, which includes the United States and
Canada.

Simon & Edward, LLP, in City of Industry, Calif., expressed
substantial doubt about the Company's ability to continue as a
going concern following the Company's 2009 results.  The
independent auditors noted of the Company's significant operating
losses, serious liquidity concerns and need for additional
financing in the foreseeable future.


INNATECH LLC: Court Approves Conversion to Chapter 7
----------------------------------------------------
District of Michigan held a hearing on the Court's order directing
Innatech LLC to show cause why its Chapter 11 case should not be
dismissed or converted to Chapter 7.  Counsel for the Debtor, the
Official Committee of Unsecured Creditor and the United States
Trustee appeared at the Show-Cause Hearing.  The Court found that
there was cause to convert the case to Chapter 7, but delayed the
conversion at the Debtor's request, and adjourned the matter until
September 29, 2010, for further hearing.  However, on September
28, 2010, the Debtor, the Committee, and United States Trustee
filed a stipulation to convert the case to Chapter 7.

On September 28, 2010, and for the reasons stated by the Court on
the record during the September 15, 2010 hearing, the Court
ordered the conversion of the Debtor's Chapter 11 case to
Chapter 7, effective immediately.

As reported in the Troubled Company Reporter on September 1, 2010,
U.S. Bankruptcy Judge Thomas J. Tucker' order directing the Debtor
to show cause why its Chapter 11 case must not be dismissed or
converted, is based upon the Debtor's failure to comply with
deadlines set forth in an April 29, 2010 court order.  That
earlier order required the Debtor to file its plan and disclosure
statement by August 19, 2010, or, if it was not going to be able
to meet that deadline, to seek an extension of that deadline by
filing a motion to that effect no later than July 20, 2019.

The Debtor did not file a motion to extend the August 19 deadline,
but filed a motion seeking a continuance of the September 1, 2010,
Show-Cause to September 15, 2010, saying a delay of the hearing
will not prejudice creditors, as no additional administrative
claims will accrue.

                      About Innatech LLC

Headquartered in Rochester, Michigan, Innatech LLC, dba Dynamic,
manufactures and designs "highly-engineered injection molded
components and assemblies."  Innatech's are sold to Tier I and
Tier II automotive suppliers and to customers in the packaging,
office furniture, appliances, household goods, toys, and personal
care markets.  Innatech employs almost 150 people at three
facilities located in Michigan, Indiana and Ohio.

The Company filed for Chapter 11 bankruptcy protection on
March 23, 2010 (Bankr. E.D. Mich. Case No. 10-49380).  Robert D.
Gordon, Esq., who has an office in Birmingham, Michigan, assists
the Company in its restructuring effort.  The Company estimated
its assets and debts at $10,000,001 to $50,000,000.

Innatech has completed an 11 U.S.C. Sec. 363 sale of substantially
all of its assets.  It finalized the sale of its assets May 28,
2010, including a Richmond, Michigan, location that specializes in
automotive parts, to Engineered Plastic Components.


INTERNATIONAL GARDEN: Gets Final Approval of $7.5 Million Loan
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that International Garden Products Inc. was given final
approval on Nov. 10 for a $7.5 million credit from a lending group
led by Harris NA.

IGP already owes $30.7 million on a secured revolving credit and
$13 million on a secured term loan.  EF Private Equity Partners
(Americas) LP holds more than half of the common stock and the
Series A preferred stock.

                About International Garden Products

Damascus, Oregon-based International Garden Products, Inc., was
incorporated in 1996 as a holding company for Iseli Nursery, Inc.,
California Nursery Supply, Weeks Wholesale Rose Grower, and Old
Skagit, Inc.  The company's operating businesses, Iseli and Weeks,
focus primarily on growing horticultural products for nationwide
sale to independent garden centers, landscape suppliers,
landscapers and similar parties.  Iseli's is known in the industry
as the premium source of dwarf conifers, Japanese maples and
unique companion plants.  Weeks is one of the largest wholesale
breeders and growers of premium roses in the U.S.

International Garden filed for Chapter 11 bankruptcy protection on
October 4, 2010 (Bankr. D. Del. Case No. 10-13207).

Andrew R. Remming, Esq., and Derek C. Abbott, Esq., at Morris,
Nichols, Arsht & Tunnell, assist the Debtor in its restructuring
effort.  Bryan Cave LLP is the Debtor's legal counsel.  FTI
Consulting is the Debtor's restructuring adviser.

The Debtor estimated its assets and debts at $10 million to
$50 million.

Affiliates Weeks Wholesale Rose Grower (Bankr. D. Del. Case No.
10-13208), California Nursery Supply (Bankr. D. Del. Case No.
10-13209), Iseli Nursery, Inc. (Bankr. D. Del. Case No. 10-13210),
and Old Skagit, Inc. (Bankr. D. Del. Case No. 10-13211) filed
separate Chapter 11 petitions.


KELLY FARMS: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Kelly Farms, a NC General Partnership
        508 Thomas Kelly Road
        Sanford, NC 27330

Bankruptcy Case No.: 10-09324

Chapter 11 Petition Date: November 10, 2010

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

Debtor's Counsel: Richard D. Sparkman, Esq.
                  RICHARD D. SPARKMAN & ASSOC., P.A.
                  P.O. Drawer 1687
                  Angier, NC 27501
                  Tel: (919) 639-6181
                  E-mail: rds@sparkmanlaw.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/nceb10-09324.pdf

The petition was signed by David W. Kelly, general partner.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Daniel C. and Kimberly Q. Kelly        10-09327   11/10/10
David W. and Tamara W. Kelly           10-09329   11/10/10
Rebecca S. Kelly                       10-09331   11/10/10


KILEY RANCH: Wants Until Dec. 24 to Excercise Option Agreement
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Nevada will convene
a hearing on December 8, 2010, at 10:00 a.m., to consider Kiley
Ranch Communities' request to extend its time to exercise an
option agreement.

The Debtor asked the Court to extend until December 24, the
deadline to cure or perform under the option agreement.  Since
December 24 is a non-judicial holiday, the deadline would actually
be on December 27.

The Debtor is party to an option to purchase real property and
water rights, as amended, with Kiley Ranch, LLC, and Lazy five
Company.  The option agreement grants the Debtor the option to
purchase certain real property and water rights located thereon,
consisting of 674.6 acres of land in Sparks, Nevada, for an option
period of 20 years or until all of the property and water rights
are purchased.

The Debtor needs more time to analyze its current status and
requirements under the option agreement and locate the funding to
perform or cure, if necessary.  The Debtor has been seeking
postpetition financing options to assist in its reorganization
process, and the option agreement is a vital asset which the
Debtor must preserve for a successful reorganization.

                   About Kiley Ranch Communities

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

Reno, Nevada-based Kiley Ranch Communities filed for Chapter 11
protection on August 26, 2010 (Bankr. D. Nev. Case No. 10-53393).
Stephen R. Harris, Esq., at Belding, Harris & Petroni, Ltd,
represents the Debtor.  The Company disclosed $70,534,892 in
assets and $59,039,258 in liabilities as of the Petition Date.


KRISPY KREME: 24 Store Closure Cues Moody's 'B3' Rating
-------------------------------------------------------
Moody's Investors Service commented that Krispy Kreme Doughnut
Corporation's B3 Corporate Family Rating and stable outlook are
not immediately affected by the reported closure of 24 Krispy
Kreme franchised stores as a result of its Australian franchisee's
filing for voluntary administration (akin to Chapter 11
reorganization).  The franchise operated 54 Krispy Kreme stores
prior to the filing.

Moody's last rating action occurred on July 29, 2010, when the CFR
was upgraded to B3 from Caa1.

Kripsy Kreme Doughnut Corporation, headquartered in Winston-Salem,
NC, is a leading branded retailer and wholesaler of its namesake
doughnuts.  Krispy Kreme generates annual net sales and system-
wide sales of approximately $345 million and $720 million
respectively.


LAS VEGAS SANDS: Bank Debt Trades at 6% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Las Vegas Sands
Corp. is a borrower traded in the secondary market at 94.38 cents-
on-the-dollar during the week ended Friday, November 12, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.67
percentage points from the previous week, The Journal relates.
The Company pays 275 basis points above LIBOR to borrow under the
facility.  The bank loan matures on November 26, 2016, and carries
Moody's B rating.  The loan is one of the biggest gainers and
losers among 202 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

Based in Las Vegas, Nevada, Las Vegas Sands Corp. (NYSE: LVS) --
http://www.lasvegassands.com/-- owns and operates The Venetian
Resort Hotel Casino, The Palazzo Resort Hotel Casino, and an expo
and convention center.  The company also owns and operates the
Sands Macao, the first Las Vegas-style casino in Macao, China.

Las Vegas Sands has a 'B-' corporate family rating from Standard &
Poor's Ratings Services.  As reported in the TCR on July 30, 2010,
Standard & Poor's placed its 'B-' corporate credit rating on the
Las Vegas Sands Corp. family of companies, as well as its issue-
level ratings on the companies' debt, on CreditWatch with positive
implications.  "In addition to announcing strong performance
across its portfolio of properties during the second quarter on
its earning call, Las Vegas Sands also indicated that it will
pursue an amend-and-extend transaction with lenders in its U.S.
credit facilities," S&P pointed out.


LAS VEGAS SANDS: Bank Debt Trades at 4% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Las Vegas Sands
Corp. is a borrower traded in the secondary market at 95.81 cents-
on-the-dollar during the week ended Friday, November 12, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.67
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 1, 2014.  Moody's has
withdrawn its rating but still carries Standard & Poor's B rating.
The loan is one of the biggest gainers and losers among 202 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Based in Las Vegas, Nevada, Las Vegas Sands Corp. (NYSE: LVS) --
http://www.lasvegassands.com/-- owns and operates The Venetian
Resort Hotel Casino, The Palazzo Resort Hotel Casino, and an expo
and convention center.  The company also owns and operates the
Sands Macao, the first Las Vegas-style casino in Macao, China.

Las Vegas Sands has a 'B-' corporate family rating from Standard &
Poor's Ratings Services.  As reported in the TCR on July 30, 2010,
Standard & Poor's placed its 'B-' corporate credit rating on the
Las Vegas Sands Corp. family of companies, as well as its issue-
level ratings on the companies' debt, on CreditWatch with positive
implications.  "In addition to announcing strong performance
across its portfolio of properties during the second quarter on
its earning call, Las Vegas Sands also indicated that it will
pursue an amend-and-extend transaction with lenders in its U.S.
credit facilities," S&P pointed out.


L.B. BRYANT: Chapter 11 Plan Feasible Despite Operating Losses
--------------------------------------------------------------
WestLaw reports that an individual Chapter 11 debtor-couple's
proposed reorganization plan satisfied the "feasibility"
requirement for confirmation, though there were some months in
which the debtors' operating reports showed that they were
operating at a deficit, due principally to costs associated with
purchasing seed or chemicals for their farmland or to legal
expenses.  The debtors, who had cut back the size of their farming
operation to eliminate farming on distant rental property, thereby
minimizing their fuel and other expenses, had a reasonable
explanation for why they expected their farming to be more
profitable going forward.  The debtors had also paid roughly
$75,000 on an objecting creditor's $166,215 claim while the case
was pending and saved about $33,000 from their nonfarm income to
fund future farming operations.  Finally, the debtors had
sufficient wage income and sufficiently reasonable projections of
future farm income that they appeared to have a reasonable
probability of successfully completing their plan.  In re Bryant,
--- B.R. ----, 2010 WL 4282189 (Bankr. E.D. Ark.) (Evans, J.).

L.B. and Mary Louise Bryant -- lifelong farmers and married for 42
years -- sought protection under chapter 12 (Bankr. E.D. Ark. Case
No. 05-40188) on Nov. 29, 2005.  The chapter 12 case was dismissed
on July 31, 2007.  The couple filed a chapter 13 petition (Bankr.
E.D. Ark. Case No. 07-15787) on Oct. 18, 2007, and subsequently
converted that case to a Chapter 11 proceeding on Nov. 21, 2006.
The Debtors have filed four plans of reorganization in this case,
and the Honorable Audrey R. Evans notes that they have
continuously negotiated with their creditors.  Their latest plan,
which Judge Evans has confirmed, is funded by their wages and farm
income.


LOCAL INSIGHT: Bank Debt Trades at 42% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Local Insight
Regatta Holding, Inc., is a borrower traded in the secondary
market at 57.58 cents-on-the-dollar during the week ended Friday,
November 12, 2010, according to data compiled by Loan Pricing
Corp. and reported in The Wall Street Journal.  This represents a
drop of 2.50 percentage points from the previous week, The Journal
relates.  The Company pays 400 basis points above LIBOR to borrow
under the facility.  The bank loan matures on April 15, 2015, and
carries Moody's Caa2 rating and Standard & Poor's CCC- rating.
The loan is one of the biggest gainers and losers among 202 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

                     About Local Insight Regatta

Headquartered in Englewood, Colorado, Local Insight Regatta
Holdings, Inc. is a leading provider of local search advertising
products and services, targeting small and medium-sized
businesses, with a range of lead-generating solutions that enable
consumers to find products and services they need.  The company's
integrated suite of local advertising solutions includes print
Yellow Pages as well as a range of digital advertising products
and services designed to establish, maintain and optimize an
advertiser's online presence.  For the 12 months ended June 30,
2010, the company reported revenues of approximately $554 million.
The company is an indirect, wholly-owned subsidiary of Local
Insight Media Holdings, Inc. whose primary owner is Welsh, Carson,
Anderson & Stowe.

Local Insight Media Holdings, Inc. and its indirect, wholly owned
subsidiary, Local Insight Regatta Holdings Inc. said in October
that Lazard Freres has been engaged in the evaluation of its
capital structure, including balance sheet restructuring options.

The Company added that it is likely to breach financial covenants
under Regatta's credit facilities at Sept. 30, 2010 and Dec. 31,
2010.

While the Company has hired Lazard, the bank lenders have engaged
FTI Consulting and Simpson Thacher, and bondholders have engaged
Houlihan Lokey and Milbank.

                           *     *     *

According to the Troubled Company Reporter on Aug. 25, 2010,
Standard & Poor's Ratings Services lowered its ratings on
Englewood, Colo.-based Local Insight Regatta Holdings Inc. to
'CCC-' from 'CCC+'.  The rating outlook is negative.

Moody's Investors Service downgraded Local Insight Regatta
Holdings, Inc.'s Corporate Family Rating and its Probability of
Default Rating, each to Ca from Caa1, and associated instrument
ratings detailed below.  The multi-notch downgrades reflect
Moody's view that the company is likely to violate financial
covenants for the September 30, 2010 reporting period and will
need to restructure its balance sheet in the near term.  Moody's
estimate recovery prospects to be average for a Ca rating with
subordinated debt taking most of the loss.  As announced on
September 8, 2010, management engaged a financial advisor to
evaluate the capital structure of its parent holding company,
Local Insight Media Holdings, Inc.  These downgrades complete
Moody's review initiated on September 9, 2010.


LIONCREST TOWERS: Wins Nod for Robbins Salomon as Counsel
---------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
has granted Lioncrest Towers, LLC, permission to employ Robbins,
Salomon & Patt, Ltd., as its attorneys under a general retainer.

The Bankruptcy Court is satisfied that the firm represents no
interest adverse to the estate and that it is a "disinterested
person" as that term is defined under Sec. 101(14) of the
Bankruptcy Code.

The firm can be reached at:

  Richard H. Fimoff, Esq.
  ROBBINS, SALOMON & PATT, LTD.
  25 E. Washington Street, Suite 1000
  Chicago, IL 60601
  Tel: (312) 782-9000
  Fax: (312) 782-6690
  E-mail: rfimoff@rsplaw.com

Lioncrest Towers, LLC, owns and operates a residential apartment
project in Richton Park, Illinois, known as Park Towers.  It filed
for Chapter 11 bankruptcy protection on August 17, 2010 (Bankr.
N.D. Ill. Case No. 10-36805).  In its schedules, the debtor
disclosed $32,333,207 in total assets and $29,958,134 in total
liabilities as of the Petition Date.


LIONCREST TOWERS: Files New Schedules of Assets & Debts
-------------------------------------------------------
Lioncrest Towers, LLC, filed with the U.S. Bankruptcy Court for
the Northern District of Illinois an amended schedule of assets
and liabilities, disclosing:

     Name of Schedule               Assets        Liabilities
     ----------------             -----------     -----------
  A. Real Property                $32,000,000
  B. Personal Property                $33,207
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $29,910,225
  E. Creditors Holding
     Unsecured Priority
     Claims                                            $9,521
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                           $38,388
                                  -----------     -----------
        TOTAL                     $32,333,207     $29,958,134

A copy of the schedules is available for free at:

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

Lioncrest Towers, LLC, owns and operates a residential apartment
project in Richton Park, Illinois, known as Park Towers.  It filed
for Chapter 11 bankruptcy protection on August 17, 2010 (Bankr.
N.D. Ill. Case No. 10-36805).  Richard H. Fimoff, Esq., at
Robbins, Salomon & Patt Ltd, assists the Debtor in its
restructuring effort.  The Debtor estimated its assets and debts
at $10 million to $50 million.


LOEHMANN'S CAPITAL: Forbearance to Expire November 19
-----------------------------------------------------
Reuters' Caroline Humer reports that Loehmann's and its largest
lenders have a standstill agreement through November 19, giving
the company more time to arrange a restructuring or a bankruptcy
filing, according to a copy of a letter the off-price retailer
sent to its vendors.

According to the letter obtained by Reuters, Loehmann's made so-
called forbearance agreements with commercial finance company
Crystal Financial and its two largest secured noteholders
representing about 70 percent of its notes.

Reuters says a Loehmann's spokeswoman confirmed the details of the
letter.

According to Reuters, under the agreement, the lenders agreed not
to exercise or enforce any of their rights against the company
through November 19.

                 Oct. 1 Interest Payment Missed

As reported by the Troubled Company Reporter on November 1, 2010,
Loehmann's cancelled its 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 after it failed to obtain support
from holders of at least 97% in principal amount of the
outstanding old notes.

Loehmann's did not make the October interest payment under the old
notes prior to the expiration of the 30-day grace period.  The
failure to make the interest payment resulted in defaults under
the indenture governing the old notes and Loehmann's Operating
Co.'s revolving credit agreement with Crystal Financial LLC.

Loehmann's said it is continuing its discussions with certain
significant holders of the old notes and Crystal regarding
forbearance agreements and is exploring all of its alternatives,
including a possible pre-negotiated reorganization proceeding.

As reported by the TCR on October 5, 2010, Loehmann's missed an
October 1 interest payment on its senior secured notes.

Standard & Poor's had believed the company is not likely to make
the payment within the 30-day grace period.  S&P lowered its
corporate credit rating on Loehmann's Holdings Inc. to 'D' from
'CC' and the issue-level rating on the senior secured notes to 'D'
from 'C'.

As reported by the TCR on June 18, 2010, Bill Rochelle, bankruptcy
columnist at Bloomberg News, said Loehmann's 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 during the first week of
April.  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.

According to Reuters, a source said 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.

The Orange County Register's Hang Nguyen reported that Loehmann's
said in October it plans to close up to 15 underperforming stores
in the next 12 months and liquidate the inventory in those stores.

Loehmann's has 62 stores, according to its Web site.

In May 1999, Loehmann's Inc. filed a petition in bankruptcy.
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.

Loehmann's Holdings had $150.555 million in total assets,
$65.177 million in total liabilities, and $85.378 million in
shareholders' equity as of July 31, 2004, according to the
company's Form 10-Q report filed in September 2004, the last time
it filed a financial report with the Securities and Exchange
Commission.

                        About Loehmann's

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.


LPATH INC: Swings to $2.955 Million Net Loss for Q3 2010
--------------------------------------------------------
LPath Inc. reported a net loss of $2,955,423 for the three months
ended September 30, 2010, from net income of $7,386,408 for the
same period a year ago.  LPath Inc. turned to a net loss of
$3,610,968 for the nine months ended September 30, 2010, from net
income of $4,025,515 for the same period a year ago.

Total revenues dropped to $769,025 for the three months ended
September 30, 2010, from $4,895,005 a year ago.  Total revenues
were $5,851,902 for the nine months ended September 30, 2010, from
$10,342,338 for the same period a year ago.

At September 30, 2010, LPath had total assets of $4,915,794, total
liabilities of $5,891,142, and stockholders' deficit of $975,348.

A full-text copy of the Company's Form 10-Q report is available at
no charge at http://ResearchArchives.com/t/s?6e3c

                            About Lpath

San Diego, Calif.-based Lpath, Inc. is a biotechnology company
focused on the discovery and development of lipidomic-based
therapeutics, an emerging field of medical science whereby
bioactive lipids are targeted to treat human diseases.

According to the Company's 2009 annual report on Form 10-K, Moss
Adams LLP, in San Diego, Calif., expressed substantial doubt about
the Company's ability to continue as a going concern.  The
independent auditors noted that the Company had incurred
significant cash losses from operations since inception and
expects to continue to incur cash losses from operations in 2010
and beyond.


M & J GENERAL: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: M & J General Contractors, Ltd.
        860 Summit St., Ste 232
        Elgin, IL 60120

Bankruptcy Case No.: 10-50271

Chapter 11 Petition Date: November 10, 2010

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

Judge: Susan Pierson Sonderby

Debtor's Counsel: Forrest L. Ingram, Esq.
                  FORREST L. INGRAM, P.C.
                  79 W Monroe Street, Suite 900
                  Chicago, IL 60603
                  Tel: (312) 759-2838
                  Fax: (312) 759-0298
                  E-mail: fingram@fingramlaw.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/ilnb10-50271.pdf

The petition was signed by Max M. Dobson, president.


MANDERS DAIRY: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Manders Dairy, LLC
        11190 Range Line Rd
        Weston, OH 43569-9694

Bankruptcy Case No.: 10-37560

Chapter 11 Petition Date: November 10, 2010

Court: U.S. Bankruptcy Court
       Northern District of Ohio (Toledo)

Judge: Mary Ann Whipple

Debtor's Counsel: John R. Burns, III, Esq.
                  111 E. Wayne Street, Suite 800
                  Fort Wayne, IN 46802
                  Tel: (260) 424-8000
                  E-mail: john.burns@bakerd.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/ohnb10-37560.pdf

The petition was signed by Walter J.A. Manders, manager.


MARINER ENERGY: S&P Raises Corporate Credit Rating From 'B+'
------------------------------------------------------------
Standard & Poor's Ratings Services said that it raised its
corporate credit and unsecured debt ratings on Mariner Energy Inc.
to 'A-' from 'B+'.  S&P removed the ratings from CreditWatch,
where they were placed with positive implications on April 15,
2010, following Apache Corp.'s announcement of its plan to acquire
Mariner.  The outlook is stable.

The rating actions follow the completion of Apache's acquisition
of Mariner.  S&P affirmed the ratings on Apache on April 15, 2010.

"Although Apache will not be providing a guarantee of Mariner's
$1.2 billion of debt, S&P believes the importance of Mariner's
assets and management of its debt by Apache, warrants equalizing
the ratings," said Standard & Poor's credit analyst Marc Bromberg.
"Therefore, S&P is raising the issue-level ratings on the assumed
debt to 'A-' from 'B+' to be consistent with the issue-level
ratings on Apache's other unsecured debt issues."


MARSICO PARENT: Closes $600 Million Subordinate Notes' Swap
-----------------------------------------------------------
Marsico Parent Co., an affiliate of mutual fund manager Marsico
Capital Management, completed an exchange offer where the $600
million of 10.625% senior subordinated notes due in January 2016
were swapped for an equal amount of senior subordinated notes due
in 2020, Standard & Poor's reported, according to Bill Rochelle,
the bankruptcy columnist for Bloomberg News.

The new debt will be issued by a newly created holding company
named Marsico Holdings LLC.  Interest on the new notes will vary
between nothing and 15%, depending on cash flow. The holders also
will receive 30% of the equity of the new holding company.

Mr. Rochelle relates that Marsico has seen funds under management
decline by more than half to $48 billion since the peak in 2007.
Managed assets were $106 billion at the time of the debt financed
management buyout in late 2007.

Denver-based Marsico specializes in investing in large-
capitalization growth stocks.


MARSICO PARENT: S&P Downgrades Counterparty Credit Ratings to 'SD'
------------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its ratings on
Marsico Parent Co. LLC, including the long-term counterparty
credit rating to 'SD' from 'CC' and the rating on its $600 million
senior subordinated notes to 'D' from 'CC'.  S&P also affirmed the
'CCC+' rating on Marsico's $1 billion senior secured term loan due
December 2014.

The rating actions follow Marsico's completion of a major
restructuring of debt issued by Marsico and two unrated holding
companies (Marsico Parent Holdco LLC and Marsico Parent
Superholdco LLC).  The company undertook the restructuring due to
the heavy debt burden at the consolidated organization, compounded
by declines in assets under management at the operating company.
Marsico, a boutique asset manager that specializes in large-cap
growth stocks, saw AUM, the principal driver of top line revenues,
fall by more than 50% from its peak in 2007 to about $47 billion
at Sept. 30, 2010.

The principal parts of the debt restructuring are:

The $600 million 10.625% senior subordinated notes due January
2016 that Marsico issued were exchanged for $600 million senior
subordinated notes due 2020 issued by Marsico Holdings LLC, a
newly established holding company.  The cash interest on these
notes can vary between 0% and 15%, depending on the company's
performance.  These senior subordinated noteholders will get a 30%
equity stake in Marsico Holdings LLC.  Due to the maturity
extension and the variability of the periodic cash interest
payment, S&P believes existing noteholders are receiving less
value than originally promised -- hence, the ratings downgrade to
default.

The $1 billion senior secured term loan due December 2014 to
Marsico is being amended and remains outstanding, with Marsico
Holdings LLC becoming the designated borrower.  The principal,
interest, and maturity date remain the same.  The amended term
loan will have a higher periodic principal amortization rate and
non-cash back-end fees in certain situations based on the
outstanding balances toward final maturity.  S&P believes existing
creditors are receiving value no less than originally promised.
Therefore, S&P affirmed the rating on the senior secured term
loan.

All unrated debt and preferred stock issued by Holdco and
Superholdco is being converted into a 19% equity stake in Marsico
Holdings LLC.

Management will own the remaining 51% of Marsico Holdings LLC.

S&P is re-evaluating Marsico's creditworthiness in light of its
new capital structure and its prospects for generating cash flow
to fully service the new debt.

"When S&P completes this re-valuation, S&P will assign a
counterparty credit rating to Marsico Holdings LLC, as well as a
debt rating to the newly issued senior subordinated notes due
2020.  Given that restructuring did not reduce the principal
amount of debt owed by Marsico and Marsico Holdings LLC, S&P
expects the ratings will be in the 'CCC' category," said Standard
& Poor's credit analyst Charles Rauch.


MARVKY CORP: Hearing on Use of Fannie Cash Collateral Dec. 7
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Texas will convene a
hearing on December 7, 2010, at 3:00 p.m., to consider Marvky
Corporation's request to access the cash securing obligation to
Fannie Mae.

The Bankruptcy Court previously entered an interim order allowing
the Debtor to access rental income of the properties to continue
its business operations.

Fannie Mae holds a mortgage against the Maryland Lakes and
Hammerly Walk properties.  As of the Petition Date, the balance
outstanding on the Hammerly Walk Apartments indebtedness is
$3,172,792, and on the Maryland Lakes Apartments indebtedness is
$4,732,864.

The Debtor related that Fannie Mae is adequately protected by the
equity cushion in the properties.  As of the Petition Date, Marvky
has valued Maryland Lakes at $5,350,000 and Hammerly Walk at
$7,400,000.  The properties provide Fannie Mae with a substantial
equity cushion, of approximately $4,850,000.

Further, Fannie Mae is granted a replacement lien on the assets on
which Fannie Mae currently has a valid security interest.  The
replacement liens will have the same priority as Fannie Mae's
prepetition liens and, absent further court order, will not be
primed or subordinated to any postpetition financing or liens
obtained or granted by the Debtor.

                     About Marvky Corporation

Houston, Texas-based Marvky Corporation develops, manages and
leases two apartment complexes, one in Houston Texas, Hammerly
Walk, and one in Phoenix Arizona, Maryland Lakes.  The Company
filed for Chapter 11 protection on September 6, 2010 (Bankr. S.D.
Tex. Case No. 10-37786).  John Akard, Jr., Esq., at John Akard Jr.
P.C., represents the Debtor.  The Debtor estimated assets at
$10 million to $50 million and debts at $1 million to $10 million.


MESA AIR: Reorganization Plan Is Unclear, Creditors Say
-------------------------------------------------------
Bankruptcy Law360 reports that Mesa Air Group Inc.'s plotted
flight out of Chapter 11 has run into a headwind, with a hedge
fund claiming that the regional airline's reorganization plan is
unclear about the treatment of roughly $20 million in notes and
other creditors reserving their right to object to the disclosure
statement.

According to Law360, Lampe Conway & Co. LLC urged Judge Martin
Glenn of the U.S. Bankruptcy Court for the Southern District of
New York to reject Mesa's disclosure statement.

                         About Mesa Air Group

Mesa currently operates 130 aircraft with approximately 700 daily
system departures to 127 cities, 41 states, Canada, and Mexico.
Mesa operates as Delta Connection, US Airways Express and United
Express under contractual agreements with Delta Air Lines, US
Airways and United Airlines, respectively, and independently as
Mesa Airlines and go! Mokulele.  This operation links Honolulu to
the neighbor island airports of Hilo, Kahului, Kona and Lihue. The
Company, founded by Larry and Janie Risley in New Mexico in 1982,
has approximately 3,500 employees.

Mesa Air Group Inc. and its units filed their Chapter 11 petitions
Jan. 5 in New York (Bankr. S.D.N.Y. Case No. 10-10018), listing
assets of $976 million against debt totaling $869 million as of
Sept. 30, 2009.

Richard M. Pachulski, Esq., and Laura Davis Jones, Esq., at
Pachulski Stang Ziehl & Jones LLP, serve as local counsel.
Imperial Capital LLC is the investment banker.  Epiq Bankruptcy
Solutions is claims and notice agent.

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


METRO-GOLDWYN-MAYER: Bank Debt Trades at 54% Off in Market
----------------------------------------------------------
Participations in a syndicated loan under which Metro-Goldwyn-
Mayer, Inc., is a borrower traded in the secondary market at 46.06
cents-on-the-dollar during the week ended Friday, November 12,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents an increase
of 0.51 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 202 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 October 8, 2010,
Metro-Goldwyn-Mayer Inc. has begun a solicitation of votes from
its secured lenders for a pre-packaged plan of reorganization.
MGM expects to continue normal business operations throughout the
restructuring process.  The Plan provides for MGM's employees,
vendors, participants, guilds, and licensees to be unimpaired.

The Plan provides for MGM's secured lenders to exchange more than
$4 billion in outstanding debt for approximately 95.3 percent of
equity in MGM upon its emergence from Chapter 11.  Spyglass
Entertainment would contribute certain assets to the reorganized
company in exchange for approximately 0.52 percent of the
reorganized company.  In addition, two entities owned by Spyglass
affiliates -- Cypress Entertainment Group, Inc. and Garoge, Inc. -
- will merge with and into a subsidiary of MGM, with the MGM
subsidiary as the surviving entity.  The stockholders of Cypress
and Garoge will receive approximately 4.17 percent of the
reorganized company in exchange.

The Wall Street Journal's Mike Spector and Lauren A. E. Schuker
report that Metro-Goldwyn-Mayer Inc. is in the final stages of
preparing a prepackaged bankruptcy filing to address its more than
$4 billion in debt.

                  About Metro-Goldwyn-Mayer Studios

Metro-Goldwyn-Mayer Studios Inc. -- http://www.mgm.com/--
-- is actively engaged in the worldwide production and
distribution of motion pictures, television programming, home
video, interactive media, music, and licensed merchandise. The
company owns the world's largest library of modern films,
comprising around 4,100 titles. Operating units include Metro-
Goldwyn-Mayer Studios Inc., Metro-Goldwyn-Mayer Pictures Inc.,
United Artists Films Inc., MGM Television Entertainment Inc., MGM
Networks Inc., MGM Distribution Co., MGM International Television
Distribution Inc., Metro-Goldwyn-Mayer Home Entertainment LLC, MGM
ON STAGE, MGM Music, MGM Consumer Products and MGM Interactive. In
addition, MGM has ownership interests in domestic and
international TV channels reaching over 130 countries.

As of September 30, 2010, the Debtors' unaudited consolidated
financial statements, as prepared in accordance with accounting
principles generally accepted in the United States for interim
financial statements, included $2,673,772,000 in total assets and
$3,451,493,000 in total liabilities

Excluding certain adjustments made by the Company in accordance
with GAAP, the Debtors' total outstanding liabilities would be
$5,766,721,000, which includes the total face value of outstanding
principal and accrued, but unpaid, interest under the Credit
Agreement and interest rate swap agreements.

Metro-Goldwyn-Mayer Inc. and 160 of its affiliates on November 3
filed Chapter 11 cases (Bankr. S.D.N.Y. Lead Case No. 10-15774),
to seek confirmation of their "pre-packaged" plan of
reorganization.

Jay M. Goffman, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP,
in New York, serves as bankruptcy counsel to the Debtors.  Klee,
Tuchin, Bogdanoff & Stern LLP is the legal counsel.  Moelis &
Company is the financial advisor.  Donlin Recano & Company, Inc.,
is the claims and notice agent.  CAIR Management, LLC, Stephen F.
Cooper, and Zolfo Cooper Management LLC, is the Debtors'
management service providers.

Bankruptcy Creditors' Service, Inc., publishes METRO-GOLDWYN-MAYER
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by Metro-Goldwyn-Mayer Inc. and its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


MICHAEL BOWERS, SR.: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Joint Debtors: Michael Buford Bowers, Sr.
               Diann Nichols Bowers
               215 Downer Drive
               Clarksville, TN 37042

Bankruptcy Case No.: 10-12237

Chapter 11 Petition Date: November 10, 2010

Court: U.S. Bankruptcy Court
       Middle District of Tennessee (Nashville)

Judge: George C. Paine, II

Debtors' Counsel: Steven L. Lefkovitz, Esq.
                  LAW OFFICES LEFKOVITZ & LEFKOVITZ
                  618 Church Street, Suite 410
                  Nashville, TN 37219
                  Tel: (615) 256-8300
                  Fax: (615) 255-4516
                  E-mail: slefkovitz@lefkovitz.com

Scheduled Assets: $1,058,746

Scheduled Debts: $787,862

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/tnmb10-12237.pdf


MIDDLEBROOK PHARMA: Files Plan; Unsecureds to be Paid in Full
-------------------------------------------------------------
As reported in the Troubled Company Reporter on August 3, 2010,
MiddleBrook Pharmaceuticals, Inc., completed on July 30, 2010, the
sale of substantially all of its assets to Victory Pharma, Inc.,
pursuant to the Asset Purchase Agreem ent, dated May 14, 2010, by
and between the Company and Victory. The Sale, which was conducted
under the provisions of Section 363 of the Bankruptcy Code, was
approved by the Bankruptcy Court on July 28, 2010.

On November 4, 2010, MiddleBrook filed the Debtor's Plan of
Liquidation and the Disclosure Statement for the Debtor's Plan of
Liquidation with the U.S. Bankruptcy Court for the District of
Delaware.

The Debtor's remaining assets are in the process of being
monetized, but it is not expected that the liquidation will
materially enhance recoveries in the Debtor's bankruptcy case.

Pursuant to the Plan, holders of General Unsecured Claims under
Class 3 (with estimated claims of $4,715,000) will receive 100% of
their allowed claim in cash.

Each holder of an Allowed Interest as of the Distribution Record
Date will receive a Pro Rata share of the remaining Cash in the
Estate, if any.  Estimated recovery is between $6 to $9 million,
in the aggregate.

The Debtor believes and asserts that no Class of Claims or
Interests is Impaired, and thus no Class is entitled to vote on
the Plan.  However, to the extent that the Bankruptcy Court
determines that Class 4 is Impaired, said Class will be deemed to
reject the Plan.

A full text copy of the Plan of Liquidation is available for free
at http://researcharchives.com/t/s?6e43

A full-text copy of the Disclosure Statement is available for free
at http://researcharchives.com/t/s?6e44

                 About MiddleBrook Pharmaceuticals

Westlake, Texas-based Middlebrook Pharmaceuticals, Inc., aka
Advancis Pharmaceuticals Corporation, is a pharmaceutical company
focused on commercializing anti-infective products that fulfill
unmet medical needs.  MiddleBrook's proprietary delivery
technology, PULSYS, enables the pulsatile delivery, or delivery in
rapid bursts, of certain drugs.  MiddleBrook currently markets
MOXATAG, the first and only FDA-approved once-daily amoxicillin,
and KEFLEX, the immediate-release brand of cephalexin.

The Company filed for Chapter 11 bankruptcy protection on
April 30, 2010 (Bankr. D. Del. Case No. 10-11485).  Joel A. Waite,
Esq., at Young, Conaway, Stargatt & Taylor, assists the Company in
its restructuring effort.  The Company estimated its assets and
debts at $10 million to $50 million.


MISSION REAL: Court Fixes December 1 as Claims Bar Date
-------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
has established December 1, 2010, as the deadline for the filing
of proofs of: (a) pre-petition claims, and (b) administrative
claims, other than claims of professionals retained by order of
the Court or administrative expense claims of vendors of the
Wilshire Bundy Property incurred in the ordinary course of
business, in Mission Real Associates, LLC's Chapter 11 case.

Los Angeles, California-based Mission Real Associates, LLC,
together with affiliates, filed for Chapter 11 bankruptcy
protection on March 31, 2010 (Bankr. Case No. C.D. Calif.
10-22370).  Richard K. Diamond, Esq., at Danning, Gill, Diamond &
Kolitz, LLP, assists the Debtor in its restructuring effort.  The
Debtor estimated its assets and liabilities at $10,000,001 to
$50 million.


MISSION REAL: Plan Filing Period Extended to November 11
--------------------------------------------------------
At an October 16, 2010 hearing, the U.S. Bankruptcy Court for the
Central District of California entered an order extending Mission
Real Associates, LLC's exclusive periods to file a Plan of
Reorganization and obtain acceptances of that Plan to November 11,
2010, and January 13, 2011, respectively.

The hearing for the approval of the Disclosure is continued to
December 14, 2010, at 10:00 a.m.

Los Angeles, California-based Mission Real Associates, LLC,
together with affiliates, filed for Chapter 11 bankruptcy
protection on March 31, 2010 (Bankr. Case No. C.D. Calif.
10-22370).  Richard K. Diamond, Esq., at Danning, Gill, Diamond &
Kolitz, LLP, assists the Debtor in its restructuring effort.  The
Debtor estimated its assets and liabilities at $10,000,001 to
$50 million.


MT ZION: Plan Confirmation Hearing Continued Until December 2
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
has continued until December 2, 2010, at 11:00 a.m., the hearing
to confirm Mt. Zion Limited Partnership's Plan of Reorganization.

As reported in the Troubled Company Reporter on September 1, the
Plan provides for the distributions to the holders of allowed
claims from funds realized from continued operation of the
Debtor's business well as from existing cash deposits and cash
resources of the Debtor.  To the extent necessary, the balloon
payment to PNC Bank, National Association, as required by the
Plan, may be paid from the proceeds of the refinancing of the
underlying mortgage indebtedness due to PNC.

                 Treatment of Claims and Interests

1. Holders of Class 2 Secured Claims will receive or retain:

   a) its lien on the real property owned by the Debtor, with the
      same validity, enforceability, perfection and priority as it
      had on the petition date, until the claims are paid in full;
      and

   b) payment of the entire unpaid balance of the allowed Class 2
      claim, including any accrued statutory interest, will be
      paid on the effective date.

2. Holders of Class 3 Allowed Claims of tenants at Woodspring
   Apartments will be paid full in cash.

3. Holders of Class 4 Other Secured Creditors Claims will be paid
   full in cash.

4. Holders of Class 5 General Unsecured Claims will receive 100%
   of the allowed of the Class 5 claims plus interest.

5. Holders Class 6 interests of the general and unlimited partners
   will retain their interests in the Debtor after confirmation of
   the Plan.

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

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

                 About Mt. Zion Limited Partnership

Lake Forest, Illinois-based Mt. Zion Limited Partnership, dba
Woodspring Apartments, owns and operates a residential apartment
project located in Florence, Kentucky, known as Woodspring
Apartments.  The Company filed for Chapter 11 protection on April
23, 2010 (Bankr. N.D. Ill. Case No. 10-18075).  David K Welch,
Esq., at Crane Heyman Simon Welch & Clar, represents the Debtor.
The Company estimated assets and debts at $10 million to
$50 million as of the Petition Date.


NARESH MAGO: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Joint Debtors: Naresh Mago
                aka Ricky Mago
               Ruchira Mago
               2765 W. Del Rio Place
               Chandler, AZ 85224

Bankruptcy Case No.: 10-36415

Chapter 11 Petition Date: November 10, 2010

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

Judge: Charles G. Case II

Debtor's Counsel: Benjamin Joseph Wright, Esq.
                  WRIGHT LAW OFFICES
                  1418 North Scottsdale Road, Ste. 222
                  Scottsdale, AZ 85257
                  Tel: (602) 320-7725
                  E-mail: bwright@wloaz.com

Scheduled Assets: $1,886,800

Scheduled Debts: $4,511,517

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/azb10-36415.pdf


NORTEK INC: S&P Assigns Corporate Credit Rating at 'B'
------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned its 'B'
corporate credit rating to Providence, R.I.-based Nortek Inc.  The
rating outlook is stable.

At the same time, S&P assigned an issue-level rating of 'CCC+'
(two notches below the corporate credit rating) to Nortek's
proposed $300 million senior notes due 2018 based on preliminary
terms and conditions.  The recovery rating is '6', indicating
S&P's expectation of negligible (at the higher end of the 0% to
10% range) recovery for lenders in the event of a payment default.

The company intends to use the proceeds of the proposed notes to
redeem or repurchase a portion of its 11% senior secured notes due
2013 and for general corporate purposes, including, but not
limited to, acquisitions complimentary to its existing lines of
business.

"The ratings on Nortek reflect what S&P considers to be the
company's highly leveraged financial risk profile, which stems
from its weak credit metrics and unfavorable debt maturity profile
following its emergence from bankruptcy protection in December
2009," said Standard & Poor's credit analyst Toby Crabtree.
"Specifically, a significant amount of the company's capital
structure is due in 2013, and S&P anticipate adjusted leverage is
likely to exceed 5x over the next several quarters."

The ratings also reflect what S&P considers to be its fair
business risk profile, as S&P believes the company has leading
positions in diverse product lines, such as kitchen range hoods
and exhaust fans, which is somewhat offset by its considerable
exposure to challenging residential and nonresidential
construction end markets.


NOVASTAR FINANCIAL: Earns $3.33 Million in September 30 Quarter
---------------------------------------------------------------
Novastar Financial Inc. filed its quarterly report on Form 10-Q,
reporting net income of $3.33 million on $25.58 million of total
income and revenues for the three months ended Sept. 30, 2010,
compared with a net loss of $18.01 million of $48.85 million of
total income and revenues.

The Company's balance sheet at Sept. 30, 2010, showed
$41.13 million in total assets, $143.78 million in total
liabilities, and a stockholder's deficit of $102.64 million.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6e54

                     About NovaStar Financial

NovaStar Financial, Inc., used to originate, purchase, securitize,
sell, invest in and service residential nonconforming mortgage
loans and mortgage backed securities.  During 2007 and early 2008,
NovaStar discontinued its mortgage lending operations and sold its
mortgage servicing rights which subsequently resulted in the
closure of its servicing operations.


PARAMOUNT RESOURCES: To Sell About 1 Million Class A Common Shares
------------------------------------------------------------------
Paramount Resources Ltd. has entered into an agreement to sell,
through a syndicate of underwriters led by BMO Capital Markets,
on a guaranteed agency basis 1,100,000 Class A Common Shares to
be issued on a "flow-through" basis in respect of Canadian
exploration expenses at a price of $27.25 per CEE FTS for gross
proceeds of $29,975,000.  The CEE FTS will be offered for sale
in the provinces of British Columbia, Alberta, Saskatchewan,
Manitoba, Ontario and Nova Scotia by a prospectus supplement to
Paramount's short form base shelf prospectus dated October 29,
2010.  Closing of this offering is expected to occur on or about
November 18, 2010.  The gross proceeds from this offering will be
used by Paramount to incur eligible Canadian exploration expenses.

Paramount also intends to issue to certain insiders of Paramount,
including Mr. C. H. Riddell, and companies controlled by them an
aggregate of 1,020,000 Class A Common Shares to be issued on a
"flow-through" basis in respect of Canadian development expenses
at a price of $24.50 per CDE FTS and 150,000 CEE FTS at a price of
$27.25 per CEE FTS for gross proceeds of $29,077,500.  These
offerings are expected to occur on or before the closing date of
the public offering.  The gross proceeds from the CDE FTS offering
will be used by Paramount to incur eligible Canadian development
expenses and the gross proceeds from the CEE FTS offering will be
used by Paramount to incur eligible Canadian exploration expenses.
Mr. C.H. Riddell, Paramount's Chairman and Chief Executive
Officer, currently beneficially owns or controls, directly or
indirectly, in excess of 50% of Paramount's outstanding Class A
Common Shares.

The pricing differential between the CEE FTS and the CDE FTS is
attributable to the fact that for purposes of the Income Tax Act
Canadian exploration expenses are preferential to Canadian
development expenses as they are generally deductible in the year
such expenses are renounced whereas Canadian development expenses
are deductible on a declining balance basis at a rate of thirty
per cent per year commencing in the year renounced.

The aggregate gross proceeds from both offerings will be
approximately $59,052,500.  The completion of the offerings is
subject to Paramount receiving all necessary regulatory approvals.

                      About Paramount Resources

Paramount Resources Ltd. is a Calgary, Alberta based exploration
and production company that produced approximately 11,000 barrels
of oil equivalent per day (net) in 2009.  Production was primarily
natural gas.

                           *     *     *

Paramount Resources carries 'B' issuer credit ratings from
Standard & Poor's.

Paramount carries a 'B3' corporate family rating from Moody's
Investors Service.  As reported in the TCR on July 16, 2010,
Moody's said the upgrade to 'B3' reflects Paramount's demonstrated
ability to navigate challenging industry and capital market
conditions and maintain a base level of production through prudent
capital and liquidity management.   The upgrade also reflects
Paramount's substantial alternate liquidity through the value in
its equity investments.   Paramount's operating environment,
however, will remain challenging given the company's very high F&D
and operating cost profile, according to Moody's.


PFF BANCORP: Settles PBGC Claims, Allows Committee to Sue
---------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that PFF Bancorp Inc., the holding company for a failed
bank, settled the disputed claim of Pension Benefit Guaranty Corp.
and is allowing the creditors' committee to file preference
lawsuits.

Mr. Rochelle recounts that the PBGC filed three claims against
each of the five PFF companies in Chapter 11.  Ten of the claims
for funding contributions and premiums didn't specify an amount.
The last five claims were for $4.2 million each, claiming
entitlement to a priority requiring payment in full.

According to Mr. Rochelle, the PBGC agreed to settle in return for
one priority claim of $31,000 and a general unsecured claim for
$4 million.

The motion for approval of the PBGC settlement is set to be heard
Dec. 22.


                         About PFF Bancorp

PFF Bancorp Inc. -- http://www.pffbank.com/-- was a non-
diversified unitary savings and loan holding company within the
meaning of the Home Owners' Loan Act with headquarters formerly
located in Rancho Cucamonga, California.  Bancorp is the direct
parent of each of the remaining Debtors.

Prior to filing for bankruptcy, Bancorp was also the direct parent
of PFF Bank & Trust, a federally chartered savings institution,
and said bank's subsidiaries.

PFF Bancorp Inc. and its affiliates sought Chapter 11 protection
on December 5, 2008 (Bankr. D. Del. Case No. 08-13127 to 08-
13131).  Chun I. Jang, Esq., and Paul N. Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors in their
restructuring efforts.  Kurtzman Carson Consultants LLC serves as
the Debtors' claims agent.  Jason W. Salib, Esq., at Blank Rome
LLP, represents the official committee of unsecured creditors as
counsel.


PFF BANCORP: Hearing on Committee Plea to Sue on Nov. 22
--------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that PFF Bancorp Inc. agreed that the Official Committee
of Unsecured Creditors can file lawsuits to recover preferences
and fraudulent transfers.  For the most part, the committee will
be suing the same creditors it represents.  The committee won't be
permitted to sue current directors and officers, nor can it sue
the former auditor, KPMG LLP.  The motion to allow lawsuits by the
committee is on the calendar for a Nov. 22 hearing.

                         About PFF Bancorp

PFF Bancorp Inc. -- http://www.pffbank.com/-- was a non-
diversified unitary savings and loan holding company within the
meaning of the Home Owners' Loan Act with headquarters formerly
located in Rancho Cucamonga, California.  Bancorp is the direct
parent of each of the remaining Debtors.

Prior to filing for bankruptcy, Bancorp was also the direct parent
of PFF Bank & Trust, a federally chartered savings institution,
and said bank's subsidiaries.

PFF Bancorp Inc. and its affiliates sought Chapter 11 protection
on December 5, 2008 (Bankr. D. Del. Case No. 08-13127 to
08-13131).  Chun I. Jang, Esq., and Paul N. Heath, Esq., at
Richards, Layton & Finger, P.A., represent the Debtors in their
restructuring efforts.  Kurtzman Carson Consultants LLC serves as
the Debtors' claims agent.  Jason W. Salib, Esq., at Blank Rome
LLP, represents the official committee of unsecured creditors as
counsel.


PHARMOS CORPORATION: Posts $470,300 Net Loss in Q3 2010
-------------------------------------------------------
Pharmos Corporation filed its quarterly report on Form 10-Q,
reporting a net loss of $470,301 for the three months ended
September 30, 2010, compared with a net loss of $1.4 million for
the same period of 2009.

The Company had an accumulated deficit of $211.2 million as of
September 30, 2010, and expects to continue to incur losses going
forward.

The Company's balance sheet as of September 30, 2010, showed
$3.3 million in total assets, $1.2 million in total liabilities,
and stockholders' equity of $2.1 million.

As reported in the Troubled Company Reporter on March 3, 2010,
PricewaterhouseCoopers LLP, in New York, expressed substantial
doubt about the Company's ability to continue as a going concern,
following its 2009 results.  The independent auditors noted of the
Company's recurring losses from operations and accumulated
deficit of $209.8 million.

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

               http://researcharchives.com/t/s?6e3e

                    About Pharmos Corporation

Iselin, New Jersey-based Pharmos Corporation is a
biopharmaceutical company that discovers and develops novel
therapeutics to treat a range of diseases of the nervous system,
including disorders of the brain-gut axis, with a focus on
pain/inflammation, and autoimmune disorders.  Dextofisopam is
Pharmos' lead product for diarrhea predominant irritable bowel
syndrome (IBS-d).


POLYPORE INTERNATIONAL: Moody's Assigns 'B3' Rating to New Notes
----------------------------------------------------------------
Moody's Investors Service assigned a B3 rating to Polypore
International, Inc.'s new $365 million of senior unsecured notes,
and affirmed the ratings of Polypore's bank credit facilities at
Ba2.  In a related action, Moody's affirmed the Corporate of
Family and Probability of Default ratings of Polypore at B2.  The
rating outlook is positive.

This rating was assigned:

Polypore International, Inc.

  -- B3 (LGD5, 77%) to the $365 million of senior unsecured notes
     due November 2017;

These ratings were affirmed:

  -- B2 Corporate Family Rating;

  -- B2, Probability of Default Rating;

  -- Ba2 (LGD2, 23%), for the $90 million guaranteed senior
     secured revolving credit facility due July 2013;

  -- Ba2 (LGD2, 23%), for the $352 million (remaining amount)
     guaranteed senior secured term loan due July 2014;

  -- B3 (LGD5, 77%), for the US$ guaranteed senior subordinated
     notes due May 2012;

(This rating will be withdrawn upon the repayment of the notes)

  -- B3 (LGD5, 77%), for the Euro guaranteed senior subordinated
     notes due May 2012

(This rating will be withdrawn upon the repayment of the notes)

                        Ratings Rationale

Net proceeds from the issuance of the $365 million in senior
unsecured notes will be used to repay the remainder of the 8_%
Senior Subordinated Notes due 2012 following the company's
announcement of a tender offer and consent solicitation for all
the outstanding 8_% Senior Subordinated Notes.  Moody's expects
Polypore to redeem any untendered amounts following the completion
of the tender.

The tender offer follows Polypore's announcement on November 3,
2010, that it issued a notice of redemption for $75 million of the
8_% Senior Subordinated Dollar Notes.  This amount together with
accrued and unpaid interest, will be redeemed on December 3, 2010,
and will be funded out the company's cash balances.

The new senior unsecured notes will push out the company's non-
bank debt maturities to November 2017 from May 2012.

Polypore's rating outlook was changed to positive, and its
Corporate Family Rating affirmed on November 4, 2010, reflecting
Moody's expectation that Polypore's solid growth trends and
operating performance will continue to support additional debt
paydowns.  See press release dated November 4, 2010.

The last announcement was on November 4, 2010, when the B2
Corporate Family Rating was affirmed and the rating outlook
changed to positive.

Polypore International, Inc., headquartered in Charlotte, NC, is a
leading worldwide developer, manufacturer and marketer of
specialized polymer-based membranes used in lead acid and lithium
batteries as well as filtration processes used in healthcare and
other industrial applications.  Warburg Pincus, directly or
indirectly, owns about 40% of Polypore's common stock.  Net sales
in 2009 were $517 million.


POLYPORE INTERNATIONAL: S&P Affirms 'B' Corporate Credit Rating
---------------------------------------------------------------
Standard & Poor's Ratings Services said that it has affirmed its
'B' corporate credit rating on Charlotte, N.C.-based Polypore
International Inc. and revised the outlook to positive from
stable.  At the same time, S&P assigned a 'B-' issue-level rating
to the company's proposed $365 million senior unsecured notes due
2017, with a recovery rating of '5', indicating S&P's expectation
of modest recovery (10%-30%) under a payment default scenario.
The issue-level ratings on its existing senior secured term loan
and revolving credit facility remain unchanged.

The rating actions follow the company's announcement of its
plan to issue $365 million in senior unsecured notes.  The
company plans to use the proceeds from the new notes, along
with $75 million cash on balance sheet, to repay in full its
existing subordinated notes.

"S&P believes the proposed refinancing will improve Polypore's
debt maturity profile.  The outlook revision reflects S&P's
expectation that the company's credit metrics will continue to
improve amid the growing end markets and its liquidity should
remain adequate," said Standard & Poor's credit analyst Helena
Song.

The ratings on Polypore reflect the company's highly leveraged
financial risk profile, characterized by high debt levels and
weak credit metrics.  Polypore's leading position in niche
battery separator, health care, and industrial filtration
markets, and its good profitability only partially offset these
factors.  S&P expects that the company's operating prospect will
remain good in 2011, primarily driven by growing demand in its
end markets.  Although certain credit measures will likely be
somewhat better than its expectation for the 'B' rating, S&P
expects free operating cash flow to be modest in 2010 and 2011
due to company's significant capital expenditures related to the
expansion of the capacity of its lithium battery separator
business.  Still, the company's $163 million cash balance and
full availability under the revolver as of Sept. 30, 2010,
support its adequate liquidity.

The outlook is positive.  S&P believes credit metrics will
continue to improve in the next few quarters and liquidity should
remain adequate.  "If the long-term competitiveness of Polypore's
business remains healthy, and if its credit measures, cash flow
and liquidity, and financial policies continue to support this
trend, S&P could raise the ratings, for example, if the company
maintains FFO to total debt above 15%," Ms. Song added.  "S&P
could lower the ratings, however, if a cyclical slowdown reduces
activity in the company's end markets or a change in the
competitive environment erodes its market position, resulting in
lower revenue and stretched credit measures, or if headroom under
its financial covenants falls to below 10."


RACE POINT: Moody's Assigns 'Ba2' Rating to $370 Mil. Loan
----------------------------------------------------------
Moody's Investors Service has assigned a Ba2 rating to the
$370 million senior secured term loan due 2017, for Race Point
Power.  The rating outlook is stable.

The Borrowers will actually consist of four individual holding
companies that will be the indirect owners of equity interests in
a portfolio of power projects in the US and Spain that are
currently held indirectly by three separate funds of ArcLight
Capital Partners, LLC.  The Borrowers are Race Point Power II LLC,
Race Point Power III LLC, Race Point Power IV LLC (as the "US
Borrowers") and NeoElectra Lux S.ar.l, the last of which is the
Borrower in respect of the Spanish power assets (as the "Euro
Borrower" and together with the US Borrowers, the "Borrowers" or
"Co-Borrowers").  Obligations of the Borrowers will be joint and
several with respect to all obligations under the term loan.  The
$370 million senior secured term loan facility will be allocated
to a US dollar-denominated tranche (as the "Dollar Tranche") and a
euro-denominated tranche (as the "Euro Tranche"), in amounts that
are still to be determined.  Each US Borrower will be entitled to
borrow a portion of the Dollar Tranche up to an agreed cap for
such US Borrower.  All the proceeds of the Euro Tranche will be
borrowed by the Euro Borrower.

Proceeds from the transaction will be used (i) to refinance
existing indebtedness (at existing holding company levels above
the projects in order to simplify the capital structure); (ii) to
acquire the remaining 50% interest of Crawfish (one of the US
projects); (iii) to pay related transaction fees and expenses;
(iv) for general corporate purposes, including permitted
dividends; (v) to fund a liquidity and capex reserve to fund
various project accounts; (vi) to fund a Lea Power reserve account
and (vii) to cash collateralize permitted LCs or alternatively,
ArcLight will post a letter of credit.  The portfolio consists of
8 power generation investments with a total of 24 power plants
throughout the US and Spain.  The portfolio is composed of
approximately 1,412MWs of combined generation capacity, with net
ArcLight ownership totaling 1,272MWs.  The assets are located in
Connecticut, Maine, Michigan, Nevada, New Mexico, Pennsylvania,
Texas and Spain.  ArcLight has majority-owned stakes in 6 of the 8
investments and 100% ownership in 5 investments.  There is project
level debt at 6 of the 8 investments.

ArcLight is a private equity investment firm founded in 2001
focused exclusively on the power and energy sectors.  ArcLight has
approximately $6.8 billion under management, with over 6,000 net
MWs in operation or construction across its four funds.  ArcLight
owns a diverse portfolio of companies in the power generation,
transmission and distribution, midstream and upstream sectors.

The rating primarily reflects: (a) the diversity of a portfolio of
8 power projects in the US and Spain; (b) the largely contracted
nature of the portfolio (90% of cash flows are contracted), which
provides stable cash flows through long-term power purchase
agreements, primarily with investment grade counterparties; and
(c) the strong operating histories of the generation projects with
commercially proven technologies.  However, the recommendation
also considers: (i) the high consolidated leverage that includes
project level debt associated with the underlying project assets;
(ii) regulatory risk and potential for changes to the regulated
tariff structure in Spain as approximately 44% of cash flows come
from projects at NeoElectra in Spain; (iii) refinancing risk; and
(iv) the structurally subordinated position of the holding
companies' lenders.

The Ba2 senior secured rating for the Borrowers considers these
strengths:

1) Diversified portfolio with five different primary fuel types
   (natural gas, hydro, diesel, waste coal and biomass) located
   across seven states and Spain

2) 90% of the cash flows are contracted

3) Diversified set of offtakers make up of PPAs with nine
   different entities, eight of which are investment grade

4) All Projects have solid availability factors and are operated
   and maintained by known and experienced service providers
   including CAMS, Dynegy, Terra-Gen and Cogentrix

5) Majority owned stakes in 6 of the 8 investments and 100%
   ownership of 5 projects, thereby providing for a high degree of
   operational and management control by ArcLight

The rating also reflects these areas of credit concern:

1) High consolidated leverage

2) Regulatory risk as about 44% of the cash flows are coming from
   the projects at NeoElectra in Spain

3) The structurally subordinated position of the lenders to the
   holding company, in relation to existing debt at 6 of the 8
   projects totaling approximately $440 million

4) Refinancing risk when the credit facility matures at the end of
   2017, leaving about $133 million outstanding (35% of the
   original amount) in Moody's base case

5) Modest foreign exchange risk due to the Spanish projects; the
   joint and several nature of the obligations mean that the US
   dollar cash flows may be needed to support the Euro Tranche
   should there be a shortfall in the euro cash flows, and vice
   versa

6) Average age of the plants (10 years) potentially increases the
   operating risk over time.

The credit facilities will be secured on a pari passu basis by a
first priority perfected security interest in substantially all
assets of the Co-Borrowers (and their respective unencumbered
wholly-owned subsidiaries), including cash distributions from each
of the projects, the Co-Borrowers' equity interests in each of
their direct or indirect subsidiaries (except to the extent
prohibited by the terms of financing documents entered into at the
project level, applicable law or the related project documents),
all Co-Borrowers accounts, and the equity interests of the parent
holding companies of each of the Borrowers (collectively, the
"Holding Companies") in the Co-Borrowers.  All obligations under
the Facility will also be unconditionally guaranteed by each
direct or indirect subsidiary of the Co-Borrowers (except to the
extent prohibited by the terms of financing documents entered into
at the project level or the related project documents) and each of
the Holding Companies.

Moody's also considered structural features in the term loan
agreement, including a cash sweep in years 1-4 equal to the
greater of (i) 75% of excess cash flow after scheduled debt
service and (ii) an amount required to achieve a target debt
balance, and a cash sweep in years 5-7 of 100% of excess cash
flow.  The transaction provides for only a 1% required annual
amortization, with additional amortization to be based upon
the cash flow sweep mechanism.  There is also a 6 month debt
service reserve covering forward interest and scheduled debt
service via cash or a letter of credit to be provided by
ArcLight, a $13.4 million liquidity and capex reserve account,
a $10 million reserve account in respect of the Hobbs Facility
and a set of financial and other covenants that restrict the
business and financial activities of the Borrowers.

The stable outlook reflects the expectation that the portfolio of
projects will generate relatively stable and predictable cash
flows, since the cash flows are derived from long term contracts
with largely investment grade counterparties.  The outlook also
assumes the near term stability in the credit quality of the
project off-takers and anticipates that the projects will continue
to be operated in a manner that allows them to perform as
expected.

Positive trends that could lead Moody's to consider an upgrade
would include a more rapid pay down of the project level debt than
currently projected and better than projected base case financial
performance.  Negative trends that could lead Moody's to consider
a downgrade would include credit deterioration by key contractual
off-takers, substantial operating performance difficulties that
result in a meaningful loss of cash flow available for debt
service, significant changes to the regulated tariff structure in
Spain that is detrimental to the cash flows at NeoElectra, and
financial performance that is consistently below expectations.
The rating is predicated upon final documentation in accordance
with Moody's current understanding of the transaction and final
debt sizing consistent with initially projected credit metrics.
The Co-Borrowers are special purpose entities formed by ArcLight
Capital Partners, LLC to hold its interests in a portfolio
consisting of 8 power projects in the US and Spain totaling 1,272
MWs of net generation.


RADIAN GROUP: Moody's Upgrades Senior Unsec. Debt Rating to 'B3'
----------------------------------------------------------------
Moody's Investors Service upgraded Radian Group's senior unsecured
debt rating to B3 from Caa1, and affirmed Radian Insurance Inc.'s
insurance financial strength rating at B1.  The outlook on both
ratings remains positive.  The Ba3 IFS ratings and positive rating
outlooks on the mortgage insurance operating companies Radian
Guaranty Inc. and Amerin Guaranty Corporation, and the Ba1 IFS
rating and stable outlook on Radian Asset Assurance Inc., are
unchanged.

                        Ratings Rationale

The rating action was prompted by Radian Group's recently
announced public offering and pricing of approximately
$450 million of senior unsecured convertible notes (unrated).
Radian intends to use the net proceeds from this offering to
fund working capital requirements and for general corporate
purposes, which may include the repayment of $160 million of
debt coming due in 2011 and $250 million of debt maturing in
2013, and for support of its mortgage insurance business.
Radian also has $250 million of debt that comes due in 2015.
Moody's notes that the issuance of the senior convertible note
maturing in 2017, follows the $550 million common stock offering
in May 2010, and substantially enhances the holding company's
liquidity and mitigates refinancing risks related to upcoming
debt maturities, given the limited dividend capacity of Radian's
regulated insurance subsidiaries.  According to Moody's, Radian
Group's improved liquidity position warrants a three-notch
differential between the holding company's senior debt ratings
and Radian Guaranty's IFS ratings, as opposed to the more typical
four-notch differential for below investment grade insurance
companies.

The positive outlook reflects the continued improvement in
Radian's business prospects, bolstered by the recent notes
issuance, in an attractive new insurance market.  Although
Radian has not been specific about its plans to downstream
capital, the credit profile of the mortgage insurance
platform benefits from improved liquidity at the holding
company.  Radian announced that prior to the transaction the
holding company expects to have approximately $440 million of
liquidity, after meeting $160 million debt maturity in 2011.
With the proceeds of the recent offering, and taking into
account the company's debt maturity schedule, Radian will have
greater flexibility to downstream capital to the operating
company, to expand new insurance capacity, or fund unanticipated
losses.  Moody's notes that Radian Guaranty's regulatory risk to
capital ratio at September 30, 2010 was 17.2:1, which is both an
improvement from the 17.9:1 recorded for the previous quarter and
one of the strongest in the industry.  Radian Guaranty's capital
ratios are boosted by the capital resources of its financial
guaranty insurance subsidiary, Radian Asset Assurance.

With a 21% market share of new originations, Radian Guaranty has
been writing a larger proportion of the industry's new insurance
policies.  Moody's noted that should there be greater demand for
private mortgage insurance as a result of higher FHA premiums
instituted in October, Radian is well positioned to benefit from
the industry's increased penetration of the insurable new mortgage
origination market.

The affirmation of the B1 IFS rating (positive outlook) on Radian
Insurance, a wholly owned subsidiary of Radian Guaranty, reflects
the standalone capital position of Radian Insurance, the explicit
support from Radian Guaranty (support, in the form of a net worth
maintenance agreement, is subordinated to Radian Guaranty's
insurance obligations), and Moody's view that the subsidiary is no
longer strategically important in terms of Radian's product
offerings.  Radian Insurance has a portfolio of NIMS and second-
lien exposures in run-off, and provides reinsurance capacity to
Radian Guaranty.

Radian Group reported $164.7 million in pre-tax operating income
for 3Q2010, primarily a result of the change in the fair value of
derivative instruments in the financial guaranty segment.  The
mortgage insurance segment generated a $125.1 million pre-tax net
operating loss, down from $225.3 million in 2Q2010.  The
performance of the mortgage insurance portfolio continues to
improve, as reflected in a decline in the delinquency rate to
16.7% from 17.2% in 2Q2010, although the number of newly
defaulting loans modestly increased, by 3%, in 3Q2010, reflecting
seasonal delinquency trends.  Moody's added that Radian's ratings
continue to reflect uncertain future demand for mortgage insurance
given upcoming housing finance reforms, the firm's weakened
capital position, and the lack of visibility on ultimate losses in
a still-weak economic environment.

                     List of Rating Actions

This rating has been upgraded; the rating outlook remains
positive:

* Radian Group Inc. -- senior unsecured debt to B3 from Caa1.

Moody's also announced that it will withdraw the ratings of Radian
Insurance for its own business reasons.

The last rating action on Radian Group occurred on May 6, 2010,
when its ratings were affirmed and its outlook changed to positive
from negative.

Radian Group Inc. is a US-based holding company that owns a
mortgage insurance platform comprised of Radian Guaranty, Radian
Insurance and Amerin Guaranty, and financial guaranty insurance
company, Radian Asset.  The group also has investments in other
financial services entities.  As of September 30, 2010, Radian
Group had $8.6 billion in total assets and $1.9 billion in
shareholder's equity.


RADIAN GROUP: S&P Assigns 'CCC+' Rating to $450 Mil. Notes
----------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned its
'CCC+' senior debt rating to Radian Group Inc.'s issuance of
$450 million in senior convertible notes due in November 2017.

The ratings on Radian Group are based on its mortgage insurance
operating companies.  The three-notch difference between the
operating-company and holding-company ratings primarily reflects
the holding company's dependence on dividends from the operating
companies and the regulatory control that defines the operating
companies' dividend-paying capacity.

S&P believes that Radian Group will use the proceeds of this
issuance to meet debt maturities, to fund working-capital
requirements, and for general corporate purposes, including
capital support for the mortgage insurance operating subsidiaries.
S&P understand that management intends, as much as possible, to
hold the funds at the holding company to maximize its flexibility
in using them.

The holding company has reported that it believes it has
sufficient liquidity to meet its obligations into 2012.  To the
extent that Radian doesn't use proceeds to support operating-
company capital, the sale of senior convertible notes enhances
holding-company liquidity, providing an added cushion against
adverse developments and extending the time frame over which it
has liquid resources to meet its obligations.  However, even if
Radian Group downstreams a significant portion of the proceeds to
the operating mortgage insurance companies, the holding company
has sufficient resources to meet near-term obligations.

S&P believes that management's primary focus is to support the
mortgage insurance operations, positioning them to actively write
new business.  As operating losses deplete mortgage insurance
capital, particularly over the remainder of 2010 and into 2011,
S&P believes the holding company will likely inject new capital
into the operating companies, drawing from liquid resources funded
in part from an earlier equity offering and bolstered by this
offering.  The extent of additional capital necessary will
primarily depend on the extent of losses incurred, but it will
also take into account regulatory requirements and competition.
Because of ongoing economic uncertainty and the ultimate losses
that the group could realize, the 'B+' financial strength ratings
on the mortgage insurance operating companies -- Radian Guaranty
Inc., Radian Insurance Inc., Radian Mortgage Insurance Inc., and
Amerin Guaranty Corp. -- remain unchanged.

The outlook on Radian Group and Radian Guaranty is negative,
largely reflecting the ongoing economic uncertainty and the
potential for litigation risk relating to rescission activity.
Despite signs of improvement, the U.S. economy remains fragile and
might yet experience a setback.  Although the rate of new notices
has declined recently, if the economy were to experience a
setback, delinquencies would likely rise again.  S&P also
anticipate that an increased number of adjustable-rate mortgages
will reset through 2010 and 2011, which could cause an increase in
delinquencies and losses incurred.

The group, as most of its peers, faces potential litigation risk
associated with ongoing rescission activity.  Because of the
extent of rescission activity during this loss cycle, adverse
judgments could hurt Radian Group's profitability and
capitalization materially.  If an economic setback or adverse
judgments related to rescission activity results in higher
delinquencies or losses, Radian Group's and Radian Guaranty's
capital could be significantly impaired, which could lead to a
downgrade.

Alternatively, S&P could raise the ratings if S&P see significant
macroeconomic improvement that translates into material and
lasting declines in delinquencies, ultimately diminishing mortgage
insurer losses.

                          Ratings List

                        Radian Group Inc.

     Counterparty Credit Rating             CCC+/Negative/--

                            New Rating

                        Radian Group Inc.

                 $450M senior convertible notes

           Senior Debt Rating                    CCC+


RASER TECHNOLOGIES: Posts $11-Mil. Net Loss in Third Quarter
------------------------------------------------------------
Raser Technologies Inc. filed its quarterly report on Fom 10-Q,
reporting a net loss of $11.01 million on $1.03 million of revenue
for the three months ended Sept. 30, 2010, compared with a net
loss of $3.53 million on $845,265 of revenue for the same period a
year ago.

The Company's balance sheet sheet at Sept. 30, 2010, showed
$57.68 million in total assets, $107.26 million in total
liabilities, and a stockholder's deficit of $49.58 million.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6e46

                     About Raser Technologies

Provo, Utah-based Raser Technologies, Inc. (NYSE: RZ)
-- http://www.rasertech.com/-- is an environmental energy
technology company focused on geothermal power development and
technology licensing.  Raser's Power Systems segment develops
clean, renewable geothermal electric power plants with one
operating plant in southern Utah and eight active and early stage
projects in four western United States: Utah, New Mexico, Nevada
and Oregon, as well as a concession for 100,000 acres in
Indonesia.  Raser's Transportation and Industrial segment focuses
on extended-range plug-in-hybrid vehicle solutions and using
Raser's award-winning Symetron(TM) technology to improve the
torque density and efficiency of the electric motors and drive
systems used in electric and hybrid-electric vehicle powertrains
and industrial applications.

                          *     *     *

Hein & Associates LLP, in Denver, Colo., 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 suffered recurring losses, has used significant
cash for operating activities since inception, has significant
purchase commitments in 2010 and has a lack of sufficient working
capital.

Raser Technologies did not make the $2.2 million semi-annual
interest payment due October 1, 2010, on its 8% Convertible Senior
Notes Due 2013.

The Company satisfied the semi-annual interest payment obligation
after receiving $1.10 million from the Thermo No. 1 plant escrow
funds and $1.15 million from a loan with Evergreen Clean Energy,
LLC, late in October 2010.


REALOGY CORP: Bank Debt Trades at 7% Off in Secondary Market
------------------------------------------------------------
Participations in a syndicated loan under which Realogy Corp. is a
borrower traded in the secondary market at 93.45 cents-on-the-
dollar during the week ended Friday, November 12, 2010, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 1.98 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 202 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 Sept. 30, 2010, showed
$2.67 billion in total assets, $9.14 billion in total liabilities,
and a stockholder's deficit of $981.0 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.


REALOGY CORP: Posts $33 Million Net Loss in September 30 Quarter
----------------------------------------------------------------
Realogy Corporation reported results for the third quarter ended
September 30, 2010.

Realogy's net revenue for the third quarter of $1.1 billion
decreased 10% compared to the same period in 2009.  For the
quarter, Realogy recorded net loss attributable to the Company of
$33 million.  Reported EBITDA for the quarter was $177 million.
EBITDA before restructuring and other items for the quarter was
$173 million, a decline of $25 million year-over-year due
primarily to a reduction in home sale transactions.

The Company's balance sheet at Sept. 30, 2010, showed
$2.67 billion in total assets, $9.14 billion in total liabilities,
and a stockholder's deficit of $981.0 million.

"Our emphasis on growing our businesses has produced results,"
said Richard A. Smith, Realogy's chief executive officer.  "The
Realogy Franchise Group added new franchisees and sales associates
with $264 million of gross commission income year to date,
including Realogy's largest conversion on record with the addition
of Mason-McDuffie Real Estate in Northern California to the Better
Homes and Garden Real Estate brand in September.  NRT acquired
approximately $30 million in GCI year to date, including its
expansion into Philadelphia with the acquisition of Coldwell
Banker Preferred in the beginning of October.  In addition, NRT
has recruited new sales associates who collectively generated more
than $60 million in gross commission income during the last 12
months."

Following the second quarter expiration of the federal tax credit
for home purchases, Realogy's core business drivers declined
during the third quarter.  The number of home sale transactions
decreased 19% year-over-year at the Realogy Franchise Group and
decreased 25% at NRT, the company-owned brokerage unit.
Offsetting these declines, the average home sale price increased
at both RFG and NRT in the third quarter by 4% and 12% year-over-
year, respectively, outperforming the market as reported by the
National Association of Realtors due to mix of business.  Cartus
experienced a 30% increase in relocation initiations primarily due
to increased volume from corporate clients including incremental
business from the Primacy Relocation acquisition.  Title Resource
Group had a 21% increase in refinance title and closing units that
partially offset a 25% decrease in its resale title and closing
units and a 2% decline in the average price per closing unit.

"The improvement in home sales aided by the Homebuyer Tax Credit
in the second quarter clearly did not survive the program's
conclusion," added Mr. Smith.  "That said, we do believe it
contributed to more stabilized pricing."

"The uncertainty created by the disruptions in the foreclosure
review process could further complicate an already fragile housing
market," said Anthony Hull, Realogy's chief financial officer.
"While we have not seen any significant national impact caused by
the uncertainty in the REO market, we continue to monitor
foreclosure developments and their potential effect on our
business."

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6e39

A full-text copy of the earnings release is available for free
at http://ResearchArchives.com/t/s?6e3a

                         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.


REBECCA KELLY: Case Summary & 19 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Rebecca S. Kelly
        815 Buckhorn Road
        Sanford, NC 27330

Bankruptcy Case No.: 10-09331

Chapter 11 Petition Date: November 10, 2010

Court: U.S. Bankruptcy Court
       Eastern District of North Carolina (Wilson)

Debtor's Counsel: Richard D. Sparkman, Esq.
                  RICHARD D. SPARKMAN & ASSOC., P.A.
                  P.O. Drawer 1687
                  Angier, NC 27501
                  Tel: (919) 639-6181
                  E-mail: rds@sparkmanlaw.com

Estimated Assets: $0 to $50,000

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

A list of the Debtor's 19 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nceb10-09331.pdf

Debtor-affiliates filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Daniel C. and Kimberly Q. Kelly        10-09327   11/10/10
David W. and Tamara W. Kelly           10-09329   11/10/10
Kelly Farms, a North Carolina
  Partnership                          10-09324   11/10/10


REDDY ICE: Officers Establish 10b5-1 Trading Plan
-------------------------------------------------
Reddy Ice Holdings Inc. said that certain officers of the Company
have established pre-arranged personal stock trading plans, or
amended their pre-existing, pre-arranged personal stock trading
plans, in each case to purchase shares of the Company's common
stock.  All of the plans are intended to comply with Rule 10b5-1
of the Securities Exchange Act of 1934, as amended, which enables
securities holders to adopt pre-arranged stock trading plans for
the purchase or sale of predetermined amounts of securities on a
non-discretionary basis.

These officers have elected to enter into Rule 10b5-1 stock
trading plans, or amend their pre-existing Rule 10b5-1 stock
trading plans:

  * Gilbert M. Cassagne - Chairman of the Board, Chief Executive
    Officer and President;

  * Steven J. Janusek - Executive Vice President and Chief
    Financial Officer;

  * Paul D. Smith - Executive Vice President and Chief Operating
    Officer;

  * Richard D. Wach - Executive Vice President - Vending and
    Leasing;

  * Angela S. Wallander - Executive Vice President and Chief
    Administrative Officer;

  * Gerard A. Williams - Executive Vice President and Chief
    Customer Officer; and

  * Kenneth C. Fernandez - Vice President - Corporate Counsel and
    Chief Compliance Officer.

The trading plans for Messrs. Cassagne, Janusek, Wach, Williams
and Fernandez will expire in May 2011. The trading plan for Ms.
Wallander will expire in August 2011 and the trading plan for Mr.
Smith will expire in September 2011.   Purchases of shares
pursuant to the stock trading plans will be reported through Form
4 filings with the Securities and Exchange Commission.  Except as
may be required by law, the Company does not report stock trading
plans by other company officers or directors, or modifications,
transactions or other activities under any previously announced
plan.

                          About Reddy Ice

Reddy Ice Holdings, Inc. -- http://www.reddyice.com/--
manufactures and distributes packaged ice in the United States.
The company serves variety of customers in 31 states and the
District of Columbia under the Reddy Ice brand name.

                            *     *     *

As reported by the Troubled Company Reporter on August 17, 2010,
Moody's Investors Service lowered Reddy Ice Holdings' corporate
family and probability-of-default ratings to B3 from B2, and its
$12 million senior discount notes due 2012 to Caa2 from Caa1.
Moody's also lowered the rating on Reddy Ice Corporations' $300
million first lien senior secured notes due 2015 to B2 from B1 and
the $139 million second lien notes due 2015 to Caa2 from Caa1.
The ratings outlook remains negative.  The speculative grade
liquidity rating was affirmed at SGL-3.

The ratings downgrade was prompted by Reddy Ice's elevated
financial leverage through the first half of 2010 due to weaker
than expected operating performance and the expectation that
leverage will remain elevated.  The B3 corporate family rating
considers ongoing operational risks related to weather as well as
increasing acquisition activity.

Reddy Ice carries 'B-' issuer credit ratings, with "negative"
outlook, from Standard & Poor's.

Moody's Investors Service said Reddy Ice Holdings, Inc.'s (the
entity that wholly owns Reddy Ice Corporation) announcement that
it has amended and restated its credit agreement, consisting of a
$50 million revolving credit facility (not rated), does not affect
the B3 corporate family rating, nor the existing instrument
ratings and the negative ratings outlook.


RICK BROWN: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Joint Debtors: Rick Allen Brown
                dba Straightline Construction Company
               Laura Marie Brown
               15323 Broadway Ave
               Snohomish, WA 98296

Bankruptcy Case No.: 10-23476

Chapter 11 Petition Date: November 8, 2010

Court: United States Bankruptcy Court
       Western District of Washington (Seattle)

Judge: Karen A. Overstreet

Debtor's Counsel: Masafumi Iwama, Esq.
                  IWAMA LAW FIRM
                  333 5th Ave S
                  Kent, WA 98032
                  Tel: 253-520-7671
                  E-mail: matt@iwamalaw.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/wawb10-23476.pdf


RIVANNA PLAZA: Case Summary & 7 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Rivanna Plaza, LLC
        109 Robinson Woods
        Charlottesville, VA 22903

Bankruptcy Case No.: 10-63212

Chapter 11 Petition Date: November 9, 2010

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

Judge: William E. Anderson

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

Scheduled Assets: $3,000,000

Scheduled Debts: $2,104,973

A list of the Company's seven largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/vawb10-63212.pdf

The petition was signed by Mark W. Green, manager.


RIVIERA HOLDINGS: Posts $6.9 Million Net Loss in Q3 2010
--------------------------------------------------------
Riviera Holdings Corporation filed its quarterly report on Form
10-Q, reporting a net loss of $6.9 million on $28.2 million of
revenue for the three months ended September 30, 2010, compared
with a net loss of $4.7 million on $34.6 million of revenue for
the same period of 2009.

Loss from operations for the three months ended September 30,
2010, and 2009, was $4.3 and $1.0 million, respectively.  During
the quarter ended September 30, 2010, the Company recorded
reorganization expenses of $2.2 million.

The Company's balance sheet at September 30, 2010, showed
$195.0 million in total assets, $293.6 million in total
liabilities, and stockholders' deficit of $98.6 million.

On November 8, 2010, the Bankruptcy Court confirmed the Debtor's
Plan of Reorganization, as modified at the Confirmation Hearing.

Under the plan, holders of Allowed General Unsecured Claims, other
than with respect to any deficiency claims of holders of Senior
Secured Claims, will receive in full and final satisfaction of
their  claims, payment in full, but in no event to exceed
$3,000,000, to be shared pro rata.  All existing Equity Interests
of the Company will be canceled.

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

               http://researcharchives.com/t/s?6e4e

                      About Riviera Holdings

Riviera Holdings Corporation, through its wholly-owned subsidiary,
Riviera Operating Corporation, owns and operates the Riviera Hotel
& Casino located in Las Vegas, Nevada, which consists of a hotel
comprised of five towers with 2,075 guest rooms, including 177
suites, and which has traditional Las Vegas-style gaming,
entertainment and other amenities.

In addition, Riviera Holdings, through its wholly-owned
subsidiary, Riviera Black Hawk, Inc., owns and operates the
Riviera Black Hawk Casino, a casino in Black Hawk, Colorado and
has various non-gaming amenities, including parking, buffet-styled
restaurant, delicatessen, a casino bar and a ballroom.

Riviera Holdings together with the two affiliates filed for
Chapter 11 on July 12, 2010 in Las Vegas, Nevada (Bankr. D. Nev.
Case No. 10-22910).  Riviera Holdings estimated assets and debts
of $100 million to $500 million in its petition.  Thomas H. Fell,
Esq., at Gordon Silver, represents the Debtors in the Chapter 11
cases.  XRoads Solutions Group, LLC, is the financial and
restructuring advisor.  Garden City Group Inc. is the claims and
notice agent.


ROTECH HEALTHCARE: Earns $2.52 Million in September 30 Quarter
--------------------------------------------------------------
Rotech Healthcare Inc. filed its quarterly report on Form 10-Q,
reporting net income of $2.52 million of $124.97 million of net
revenues for the three months ended Sept. 30, 2010, compared with
a net loss of $4.54 million on $122.52 of net revenues for the
same period a year earlier.

The Company's balance sheet at Sept. 30, 2010, showed
$303.47 million in total assets, $63.43 million in total current
liabilities, $662,000 in deferred tax liabilities, $532,000 in
other long-term liabilities, $512.88 million in long-term debt,
and a stockholder's deficit of $279.04 million.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6e4c

                      About Rotech Healthcare

Based in Orlando, Florida, Rotech Healthcare Inc. (NASDAQ: ROHI)
-- http://www.rotech.com/-- provides home medical equipment and
related products and services in the United States, with a
comprehensive offering of respiratory therapy and durable home
medical equipment and related services.  The company provides
equipment and services in 48 states through approximately 500
operating centers located primarily in non-urban markets.

Standard & Poor's Ratings Services said it raised its corporate
credit rating on Orlando, Fla.-based home health care provider
Rotech Healthcare Inc. to 'B-' from 'CCC'.  At the same time, S&P
removed the ratings from CreditWatch with positive implications,
where they had been placed on Sept. 27, 2010.  The outlook is
positive.

Moody's Investors Service upgraded Rotech Healthcare, Inc.'s
corporate family rating and probability of default rating to Caa1
from Caa2 following the successful execution of $230 million of
senior secured notes due 2015.  In addition, Moody's upgraded
Rotech's senior subordinated notes rating to Caa2 from Caa3 and
confirmed the B1 rating on the senior secured notes.  These rating
actions conclude the review for possible upgrade initiated on
September 27, 2010.  The rating outlook is now stable.


ROUSE COMPANY: Moody's Withdraws 'C' Rating on Senior Debt
----------------------------------------------------------
Moody's Investors Service has withdrawn the rating of The Rouse
Company LP.

This rating was withdrawn:

  * The Rouse Company LP - Senior unsecured debt at C.

                        Ratings Rationale

The credit rating has been withdrawn because Moody's Investors
Service believes it has insufficient or otherwise inadequate
information to support the maintenance of the credit rating.

The C rating reflected a heightened likelihood of economic default
and the potential for above-average loss severity on the Rouse
debt as the REIT had failed to repay some of its senior unsecured
debt bonds.  As General Growth Properties, Inc. (Rouse's parent)
emerges from bankruptcy, Moody's anticipates that the credit
quality of Rouse will be significantly stronger going forward.

However, the withdrawal of Moody's rating reflects Moody's lack of
adequate information to reach an accurate credit rating decision
and Moody's conclusion that it will be unlikely that Moody's will
receive adequate information in the future.

Moody's last rating action on The Rouse Company was on
February 16, 2010, when the ratings were placed under review for
possible upgrade following the announcement by Simon Group that it
made a written offer to acquire General Growth Properties, Inc.

Moody's adopts all necessary measures so that the information it
uses in assigning a credit rating is of sufficient quality and
from sources Moody's considers to be reliable including, when
appropriate, independent third-party sources.  However, Moody's is
not an auditor and cannot in every instance independently verify
or validate information received in the rating process.


RURAL/METRO OPERATING: S&P Assigns 'B+' Ratings to $345 Mil. Loan
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its issue-
level ratings on Rural/Metro Operating Co. LLC's proposed
$345 million senior secured credit facility.  The facility
consists of a $75 million revolving credit facility due 2015
and a $270 million term loan B due 2016.  The issue-level ratings
on the bank facility are 'B+', the same as the corporate credit
rating, with a '3' recover rating, indicating S&P's expectation
of meaningful (50%-70%) recovery in the event of payment default.

The company is revising its previously proposed refinancing and
will use proceeds from this proposed financing, in addition to
$14 million of cash from the balance sheet, to repay its existing
debt, including the Holdco pay-in-kind notes.  The proposed
revolving credit facility will have a $55 million sublimit for
letters of credit, which will unlock $20 million of restricted
cash.

In addition, S&P is withdrawing the issue-level ratings on the
previously proposed refinancing capital structure.  The 'B+'
corporate credit rating on the company remains unchanged.

The low-speculative-grade corporate credit rating on medical
transport services company Rural/Metro reflects the company's
exposure to the ongoing uncertainty of government reimbursement
rates and sustainability of commercial payor price increases,
modest operating margins, and high levels of uncompensated care.
The company's aggressive financial risk profile reflects a
continued improvement of credit metrics and liquidity.  The
proposed refinancing will further improve liquidity because of
expected lower interest expense and mandatory amortizations and
more distant maturities.

                          Ratings List

                        Rural/Metro Corp.

       Corporate Credit Rating                B+/Stable/--

                            New Rating

                Rural/Metro Operating Company LLC

                          Senior Secured

             US$75 mil revolver bank ln due 2015   B+
              Recovery Rating                      3
             US$270 mil term loan bank ln due 2016 B+
              Recovery Rating                      3

                        Ratings Withdrawn

                   Rural/Metro (Delaware) Inc.
                Rural/Metro Operating Company LLC
                        Senior Unsecured

                                        To                From
                                        --                ----
  US$200 mil notes nts due 2018         NR                B
   Recovery Rating                      NR                5

                Rural/Metro Operating Company LLC
                         Senior Secured

                                        To                From
                                        --                ----
  US$100 mil revolver bank ln due 2015  NR                BB
   Recovery Rating                      NR                1
  US$75 mil term loan bank ln due 2016  NR                BB
   Recovery Rating                      NR                1


SANDRIDGE ENERGY: S&P Gives Negative Outlook, Affirms 'B+' Rating
-----------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on
SandRidge Energy Inc. to negative from stable.  At the same
time, S&P affirmed its 'B+' corporate credit rating on the
company.  S&P placed the 'B+' rating on the company's senior
unsecured debt on CreditWatch with negative implications.
Approximately $3.0 billion of funded debt was outstanding
as of Sept. 30, 2010.

"The rating action reflects S&P's view that credit measures may
remain weak for the rating in 2011 given the significant increase
in SandRidge's capital expenditure budget for the remainder of
2010 and 2011," said Standard & Poor's credit analyst Patrick
Jeffrey.  As a result, S&P thinks debt leverage could remain above
its threshold of 4.5x if the company is not able to successfully
complete planned asset sales.  The CreditWatch listing on the
senior unsecured issue rating indicates that S&P could lower the
rating upon review of updated reserve information and
implementation of S&P's new recovery criteria.

The ratings on Oklahoma City, Okla.-based SandRidge Energy reflect
its highly leveraged financial profile and geographic
concentration in Texas and Oklahoma, as well as Standard & Poor's
Ratings Services' expectation that near-term natural gas prices
will remain weak.  The ratings also reflect SandRidge's strategic
shift to oil production from natural gas in response to weak near-
term natural gas prices.

The negative outlook reflects S&P's concern that SandRidge's
increased capital expenditure plans will result in significant
negative cash flow through 2011.  If the company is not able to
achieve planned asset sales with proceeds at the high end of its
guidance, S&P believes the company's adjusted total debt to
EBITDAX could be about 5x at the end of 2011, which S&P would
consider well above the 4.5x threshold for the ratings.  S&P could
consider a downgrade if the company is not able to reduce debt
leverage to below 4.5x by the end of 2011 or if liquidity becomes
tighter in the near term as a result of weak natural gas prices
combined with its aggressive capital spending plan.  S&P would
consider a stable outlook if the company is able to sustain debt
leverage below 4.5x and maintain adequate liquidity.


SBARRO INC: Posts $5.7 Million Net Loss in September 26 Quarter
---------------------------------------------------------------
Sbarro Inc. filed its quarterly report on Form 10-Q, reporting a
net loss of $5.70 million on $84.00 million of total revenues for
the three months ended Sept. 26, 2010, compared with a net loss of
$24.31 million on $55.52 million of total revenues for three
months ended Sept. 27, 2009.

The Company's balance sheet at Sept. 30, 2010, showed
$455.55 million in total assets, $29.98 million in total current
liabilities, $7.47 million in deferred rent, $70.64 million in
deferred tax liabilities, $13.26 million in due to former
shareholders and other liabilities, $341.80 million in long-term
debt, and stockholder's equity of $16.17 million.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6e48

                       About Sbarro Inc.

Melville, N.Y.-based Sbarro, Inc. -- http://www.sbarro.com/-- is
the world's leading Italian quick service restaurant concept and
the largest shopping mall-focused restaurant concept in the world.
The Company has 1,056 restaurants in 41 countries.

                         *     *     *

As reported by the Troubled Company Reporter on August 17, 2010,
Standard & Poor's Ratings Services lowered its corporate credit
rating on Sbarro to 'CCC-' from 'CCC+'.  The outlook is negative.
S&P also lowered the ratings on the company's $21.5 million
revolving facility and $183 million first-lien term loan to 'CCC-'
from 'CCC+'.  The '4' recovery rating on these facilities remains
unchanged.  Concurrently, S&P lowered the rating on the company's
$150 million senior unsecured notes to 'CC' from 'CCC-' and kept
the recovery rating of '6' on this debt issue unchanged.

"The ratings on Sbarro reflect S&P's belief that it might have
difficulties complying with the EBITDA covenant under its bank
facility," said Standard & Poor's credit analyst Mariola Borysiak.
At June 27, 2010, Sbarro had only $1.7 million cushion to its
$40 million EBITDA covenant and this covenant steps up at December
2010 to $43 million.  Sbarro would be out of compliance with this
covenant pro forma for this step-up.

In July 2009, Moody's increased Sbarro's credit ratings to Caa1
from Caa2 on its senior credit facility, affirmed its C rating on
its senior notes and affirmed its Ca corporate rating, which
ratings hold to date.


SEITEL INC: Posts $46.1 Million Net Loss in September 30 Quarter
----------------------------------------------------------------
Seitel, Inc., announced Tuesday it financial results for the third
quarter ended September 30, 2010.

Total revenue for the third quarter was $46.1 million compared to
$19.5 million during the third quarter of 2009.  Total resale
revenue increased $23.7 million, or 197%, and acquisition revenue
increased $3.1 million, or 47% between quarters.

For the third quarter of 2010, the net loss was $15.9 million
compared to the 2009 third quarter net loss of $28.0 million.

"We have had another strong quarter confirming a strong rebound in
our business," commented Rob Monson, president and chief executive
officer.  "Cash resales from our recent investments have been the
primary driver of the recovery; however, we have also seen a
rebound in sales from older data.

"We have also continued to grow our data library in the resource
plays, including expanding on our current areas of strength and
also expanding into other prospective areas," stated Monson.

The Company's balance sheet at September 30, 2010, showed
$478.9 million in total assets, $485.4 million in total
liabilities, and a stockholders' deficit of $6.5 million.

A complete text of the earnings release is available for free at:

               http://researcharchives.com/t/s?6e33

                        About Seitel Inc.

Houston, Tex.-based Seitel, Inc. -- http://www.seitel-com/-- is a
leading provider of seismic data to the oil and gas industry in
North America.  Seitel's data products and services are critical
for the exploration for, and development and management of, oil
and gas reserves by oil and gas companies. Seitel owns an
extensive library of proprietary onshore and offshore seismic data
that it has accumulated since 1982 and that it licenses to a wide
range of oil and gas companies.

                          *     *     *

Seitel, Inc., carries Standard & Poor's Ratings Services corporate
credit rating 'CCC+'.  The outlook is developing.


SEMGROUP ENERGY: Posts $2.8 Million Net Loss in September 30 Qtr.
-----------------------------------------------------------------
Blueknight Energy Partners L.P. announced its financial results
for the quarter ended September 30, 2010.

The Company reported a net loss of $2.8 million for the third
quarter of 2010 compared to a net loss of $4.4 million for the
third quarter of 2009.  EBITDA for the third quarter of 2010 was
$16.0 million, an increase of approximately 13% from $14.1 million
in the third quarter of 2009.  The year over year improvement was
primarily attributable to increased asphalt services revenues and
decreased general and administrative expenses.

The Company's balance sheet at Sept. 30, 2010, showed
$310.70 million in total assets, $33.88 million in total current
liabilities, $419.00 million in long-term debt, and a
stockholder's deficit of $142.18 million.

In October of 2010, the Partnership refinanced its outstanding
debt and concurrently raised additional capital through the
issuance of additional partnership units.  The refinancing will
result in decreased leverage, reduced interest rates on
outstanding borrowings and increased liquidity.

"The turnaround and stabilization of the Partnership's business
are reflected in the results of the latest quarter.  Increasing
the utilization of the crude oil gathering and transportation
assets remains the primary commercial focus.  We are optimistic
that projects currently under negotiation will result in improved
throughput beginning mid to late 2011.  Most importantly, the
Partnership should see a return to bottom-line profitability now
that the comprehensive refinancing has been completed," said James
Dyer, Chief Executive Officer of the Partnership's general
partner.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6e37

A full-text copy of the earnings release is available for free
at http://ResearchArchives.com/t/s?6e38

                     About Blueknight Energy

Blueknight Energy Partners, L.P. (Pink Sheets: BKEP)
-- http://www.bkep.com/-- owns and operates a diversified
portfolio of complementary midstream energy assets consisting of
approximately 8.2 million barrels of crude oil storage located in
Oklahoma and Texas, approximately 6.7 million barrels of which are
located at the Cushing Oklahoma Interchange, approximately 1,300
miles of crude oil pipeline located primarily in Oklahoma and
Texas, approximately 185 crude oil transportation and oilfield
services vehicles deployed in Kansas, Colorado, New Mexico,
Oklahoma and Texas and approximately 7.2 million barrels of
combined asphalt and residual fuel storage located at 45 terminals
in 22 states.  BKEP provides integrated terminalling, storage,
processing, gathering and transportation services for companies
engaged in the production, distribution and marketing of crude oil
and asphalt product.  BKEP's general partner is controlled by
Vitol Holding B.V. and its affiliates, which are engaged in the
global physical supply and distribution of crude oil, petroleum
products, coal, natural gas and other commodities.  BKEP is based
in Oklahoma City, Oklahoma and Tulsa, Oklahoma.

The Company's balance sheet at June 30, 2010, showed
$297.3 million in total assets, $447.2 million in total
liabilities, and a partners' deficit of $149.9 million.

                           *     *     *

PricewaterhouseCoopers LLP, in Tulsa, Okla., in its report on the
Partnership's financial statements for the year ended December 31,
2009, expressed substantial doubt about its ability to continue as
a going concern.  The independent auditors noted that the
Partnership has substantial long-term debt, a deficit in partners'
capital, and significant litigation uncertainties.


SEXTANT STRATEGIC GLOBAL: Chapter 15 Case Summary
-------------------------------------------------
Chapter 15 Petitioner: Kenneth Krys

Chapter 15 Debtor: Sextant Strategic Global Water Fund Offshore,
                   Ltd.
                     aka Sextant Canadian Oil & Sands Hedge Fund
                         Offshore, Ltd.
                   c/o Krys & Associates Cayman, Ltd.
                   Govenors Square Building, 2nd Floor
                   23 Lime Tree Bay Area, P.O. Box 31237
                   701 Brickell Avenue, 16th Floor
                   Miami, FL 33131
                   Tel: (305) 372-8282

Chapter 15 Case No.: 10-44715

Chapter 15 Petition Date: November 10, 2010

Court: U.S. Bankruptcy Court
       Southern District of Florida (Miami)

Judge: Gregory S. Grossman, Esq.
                  701 Brickell Avenue, 16th Floor
                  Miami, FL 33131
                  Tel: (305) 372-8282
                  E-mail: ggrossman@astidavis.com

Debtor's Counsel: Gregory S. Grossman, Esq.
                  701 Brickell Avenue, 16th Floor
                  Miami, FL 33131
                  Tel: (305) 372-8282
                  E-mail: ggrossman@astidavis.com

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

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

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


SEXTANT STRATEGIC HYBRID2HEDGE: Chapter 15 Case Summary
-------------------------------------------------------
Chapter 15 Petitioner: Kenneth Krys

Chapter 15 Debtor: Sextant Strategic Hybrid2Hedge Fund, Ltd.
                     aka Sextant Gold & Minerals Hedge Fund
                         Offshore, Ltd.
                   c/o Krys & Associates Cayman, Ltd.
                   Govenors Square Building, 2nd Floor
                   23 Lime Tree Bay Avenue
                   P.O. Box 31237
                   Miami, FL 33131
                   Tel: (305) 372-8282

Chapter 15 Case No.: 10-44713

Chapter 15 Petition Date: November 10, 2010

Court: U.S. Bankruptcy Court
       Southern District of Florida (Miami)

Judge: A. Jay Cristol

Debtor's Counsel: Gregory S. Grossman, Esq.
                  701 Brickell Avenue, 16th Floor
                  Miami, FL 33131
                  Tel: (305) 372-8282
                  E-mail: ggrossman@astidavis.com

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

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

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


SOMERSET PROPERTIES: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Somerset Properties SPE, LLC
        4515 Falls of Neuse Road, Suite 100
        Raleigh, NC 27609

Bankruptcy Case No.: 10-09210

Chapter 11 Petition Date: November 8, 2010

Court: U.S. Bankruptcy Court
       Eastern District of North Carolina (Wilson)

Judge: J. Rich Leonard

Debtor's Counsel: William P. Janvier, Esq.
                  JANVIER LAW FIRM, PLLC
                  1101 Haynes Street, Suite 102
                  Raleigh, NC 27604
                  Tel: (919) 582-2323
                  Fax: (919) 582-2301
                  E-mail: bill@janvierlaw.com

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

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

The petition was signed by Kevin J. Wilk, agent of manager.

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Harrod & Assoc. Constructors       --                     $172,071
Attn: Managing Agent
P.O. Box 90713
Raleigh, NC 27675

Amelang Management Corporation     Trade Debt             $130,722
Attn: Managing Agent
5599 San Felipe, Suite 110
Houston, TX 77056

EMCOR Services/Aircond             Trade Debt              $63,476
Attn: Managing Agent
P.O. Box 945617
Atlanta, GA 30394-5617

Progress Energy Carolinas, Inc.    Trade Debt              $60,828

Cassidy Turley                     Trade Debt              $47,123

Falls of Neuse Investments, LLC    Trade Debt              $45,500

MG Capital Maintenance, Inc        Trade Debt              $21,244

Holland & Knight, LLP              Trade Debt               $6,164

ValleyCrest Landscape Maintenance  Trade Debt               $4,620

City of Raleigh                    --                       $3,833

Otis Elevator Company              Trade Debt               $3,573

Security Forces, Inc.              Trade Debt               $2,419

B.E.S.T., Inc.                     Trade Debt               $2,220

Collection Services, Inc.          Trade Debt               $1,932

Blount                             Trade Debt               $1,500

Southeastern Poolphone Service     Trade Debt               $1,350

MW Holdings, LLC                   Trade Debt               $1,000

Ambius, Inc.                       Trade Debt                 $890

SimplexGrinnell                    Trade Debt                 $412

Glass Express, Inc.                Trade Debt                 $400


STEVE PAIGE: District Court Affirms Plan Confirmation
-----------------------------------------------------
WestLaw reports that the mere fact that a Chapter 11 trustee had
certain obligations under an asset purchase agreement to a
creditor that had joined with him in proposing one of two
competing plans did not support a per se inference of lack of
disinterestedness.  Thus, the bankruptcy court, absent any
evidence that the trustee was not in fact disinterested or had
acted in a biased manner in proposing the plan, properly overruled
an objection to the good faith of the trustee's proposed plan
based on his alleged lack of disinterestedness.  In re Paige, ---
B.R. ----, 2010 WL 4286237 (D. Utah) (Benson, J.).

This decision by the Honorable Dee Benson in the District Court
follows the United States Court of Appeals for the Tenth Circuit
rejecting an appeal to that tribunal by the disgruntled plan
proponent, as reported in the Oct. 1, 2010 edition of the Troubled
Company Reporter.

"[T]he bankruptcy court's judgment is AFFIRMED," Judge Benson
writes.  "The bankruptcy court handled this matter very carefully
and had a sound evidentiary basis for each of its findings and
rulings.  The record shows that the bankruptcy court, which was in
the best position to weigh the evidence and determine the facts,
justly found that the Joint Plan should be confirmed.  This is one
case where virtually all of the debtor's creditors got paid in
full.  However, the entire bankruptcy system appears to have been
used as a means for the debtor to avoid his debts while hiding his
one lucrative asset, the domain name.  When all was said and done,
that asset became the focus of the infighting, and remarkably
everyone still got paid, including presumably the lawyers."

The Troubled Company Reporter covered the Bankruptcy Court's
ruling concerning a question about whether the Internet domain
freecreditscore.com was property of the Debtor's estate on
October 13, 2009.  As previously reported in the TCR, the
Honorable William T. Thurman received evidence that the Internet
domain name was valued between $350,000 and $25 million (and up to
$200 million) in the course of a 19-day trial in Jubber, et al.,
v. Search Market Direct, Inc., et al. (Bankr. D. Utah Adv. Pro.
No. 06-02299).

Steve Zimmer Paige sought Chapter 7 protection (Bankr. D. Utah
Case No. 05-34474) on Sept. 16, 2005, and the case was
subsequently converted to a Chapter 11 proceeding on Oct. 6, 2006,
after the U.S. Trustee's Office, acting on an anonymous tip from
THIRSTY 4 JUSTICE objected to Mr. Paige's general discharge for
failure to disclose ownership of the domain name in his Schedules
of Assets and Liabilities.  Gary Jubber serves as the Liquidating
Trustee under a joint Chapter 11 plan he and ConsumerInfo.com,
Inc., proposed on May 23, 2007, which was confirmed over Mr.
Paige's objection by Judge Thurman on Oct. 18, 2008.

Search Market Direct, Inc., and Magnet Media, Inc., and
ConsumerInfo.Com purchased substantial numbers of unsecured claims
against Mr. Paige with the clear intention to acquire and use the
freecreditscore.com Internet domain name.


TAYLOR BEAN: Schedules Jan. 19 Plan Confirmation Hearing
--------------------------------------------------------
Taylor Bean & Whitaker Mortgage Corp. received approval from the
Bankruptcy Court of the disclosure statement explaining the
liquidating Chapter 11 plan.

Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the Bankruptcy Court has scheduled a Jan. 19 hearing
to consider confirmation of the Plan.

According to Mr. Rochelle, the disclosure statement says assets
to be administered under the plan eventually will total from
$322 million to $521 million.  After claims with higher priority
are paid, between $264 million and $354 million will remain for
unsecured creditors with claims totaling more than $8 billion.
The distribution to unsecured creditors is expected to range
between 3.3% and 4.4%, according to the disclosure statement.

As reported in the Troubled Company Reporter on September 27, the
Plan proposed by the Debtor and the Official Committee of
Unsecured Creditors 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.

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

                          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.


TERREMARK WORLDWIDE: Moody's Puts 'Caa1' Rating on $75 Mil. Notes
-----------------------------------------------------------------
Moody's Investors Service assigned a Caa1 rating to Terremark
Worldwide, Inc.'s $75 million second lien secured note issuance.
The proceeds of the notes will be used for general corporate
purposes, which will include the funding of the company's data
center expansion.  As part of the rating action, Moody's affirmed
Terremark's B2 corporate family rating and B2 probability of
default rating.  The SGL-2 liquidity remains unchanged, indicating
good liquidity, as the new note issuance will bolster the
company's cash balances to fund the company's expansion plans.

Issuer: Terremark WorldWide, Inc.

Assignments

  -- $75 million 2nd Lien Senior Secured Notes Due 2013, Assigned
     Caa1 LGD5 - 82%

  -- $470 million Senior Secured Notes Due 2017, Upgraded to B1
     LGD3 - 36% from B1 LGD3 - 42%

  -- Outlook is stable

                         Rating Rationale

Terremark's B2 CFR reflects the significant continuing execution
risk from the company's ongoing expansion, increasingly
competitive environment as the company grows its managed service
business, high leverage, and the high capital intensity inherent
in the company's business plans.  Moody's believes Terremark plans
to build out roughly 85,000 feet of additional rentable space
through December 2011.  Furthermore, the rating agency recognizes
that Terremark's key credit metrics will remain in a state of
transition through the end of fiscal year ending in March of 2012,
as during that time Moody's expects the company's leverage to fall
from over 6.7x on a Moody's adjusted basis pro-forma for the
pending financing to roughly 4.4x at the end of FY2012, given the
expected rapidly improving EBITDA once the announced build-outs
are complete.  Moody's also notes that if the company undertakes
additional expansion projects, the expected deleveraging may be
further delayed.  As such, the company is weakly positioned within
its B2 CFR.

On the other hand, Terremark's rating benefits from the favorable
near-term trends for server hosting capacity in the US and the
unique position of the company's cornerstone data center in
Florida, and its growing relationship with the Federal government,
which Moody's believe somewhat reduces the uncertainty of future
cash flows.

Although the company's financial leverage (Moody's adjusted
Debt/EBITDA, including capitalized operating leases) remained
relatively constant during 2010, due to the ongoing expansion and
the wait time for new facilities to come online, Moody's expects
the company's adjusted leverage to fall to about 6.1x on a Moody's
adjusted basis at fiscal year-end 2011 (March 2011) from about
6.9x, at September 30, 2010 (proforma for the new financing).  The
reduction in leverage will be driven by the operating benefits
that will accrue to Terremark, as it generates revenues from the
leases on the 55,000 square foot colocation capacity that came
online in the summer of 2010.

Terremark's SGL-2 liquidity rating indicates good liquidity.  Over
the 4-quarter horizon to December 31, 2011 Terremark's main source
of liquidity is expected to be cash on hand, which pro-forma for
the $75 million debt raise would be roughly $125 million.  Against
this, Terremark's main use of cash will be its likely cash burn of
roughly $100 million to support its expansion plans over this 4-
quarter period.  Moody's notes that the company's liquidity
position enables it to execute its expansion only up to the
announced levels.  Should the company proceed to add more space
than what it has announced, it will need to raise additional debt
or equity capital.

                          Rating Outlook

The stable outlook reflects Moody's view that the company will
continue along a rational expansion path, whereby it will not
commence construction of new data center facilities in advance of
a solid demand in bookings.

                What Could Change the Rating -- Up

Given the aggressive expansion plan pursued by the company and the
commensurate use of cash, a ratings upgrade is unlikely over the
next year.  However, rating migration could occur if Terremark
successfully carries on the staged buildout of its planned
expansion and successfully leases up the capacity in its data
centers, such that adjusted Debt/EBITDA leverage trends to below
4.5x on a sustainable basis, and the company generates consistent
positive free cash flow.

               What Could Change the Rating -- Down

Given the high project finance nature of the company's expansion
plans, debt financed buildouts in addition to the current schedule
continue to pressure the ratings.  Ratings may also come under
downward pressure, if industry pricing exhibit overcapacity trends
spurring a new period of hypercompetition.  The above factors may
be evidenced in Terremark's performance, such that it is unable to
grow operating cash flow from the new capacity it brings online
and the company continues to burn cash and its leverage remains
above 6.0x.

Moody's most recent rating action for Terremark was in April 23,
2010, when the rating agency upgraded the company's CFR to B2 from
B3.

Headquartered in Miami, FL, Terremark is a data company which
operates four domestic and five international data centers,
totaling about 330,000 square feet of rentable data center space.

                     Regulatory Disclosures

Information sources used to prepare the credit rating are these:
parties involved in the ratings, parties not involved in the
ratings, public information, confidential and proprietary Moody's
Investors Service information, and confidential and proprietary
Moody's Analytics information.

Moody's Investors Service considers the quality of information
available on the issuer or obligation satisfactory for the
purposes of maintaining a credit rating.

Moody's adopts all necessary measures so that the information it
uses in assigning a credit rating is of sufficient quality and
from sources Moody's considers to be reliable including, when
appropriate, independent third-party sources.  However, Moody's is
not an auditor and cannot in every instance independently verify
or validate information received in the rating process.


THERMADYNE HOLDINGS: Moody's Puts 'B3' Rating on $250 Mil. Notes
----------------------------------------------------------------
Moody's Investors Service has assigned a B3 rating to the
$250 million senior secured notes proposed by Thermadyne Holdings
Corporation.  At the same time, Moody's assigned a B3 corporate
family rating and B3 probability of default rating to the post
acquisition Thermadyne entity.  Proceeds from the notes issuance
are expected to help finance the $410 million acquisition of
Thermadyne by Irving Place Capital.  These ratings have been
assigned subject to review of final documentation.  The rating
outlook is stable.

These ratings have been assigned to Thermadyne Holdings
Corporation (New):

  -- B3 corporate family rating;

  -- B3 probability of default rating; and

  -- B3 (LGD4, 54%) to the $250 million senior secured notes due
     2017.

Upon successful completion of the acquisition and related
refinancing, Moody's will withdraw all previously existing ratings
on Thermadyne Holdings Corporation (Old).

                        Ratings Rationale

The B3 CFR reflects Thermadyne's relatively small size, high
leverage and exposure to cyclical end markets, such as
transportation and construction.  Thermadyne has rebounded from
the global economic downturn, that began to adversely affect sales
in 2008, due in large part to its geographic diversification,
global brands with leading market positions and focus on
continuous improvement initiatives.  Strong demand in Asia-
Pacific, the lower cost structure and a manageable raw material
pricing environment has enabled Thermadyne to generate solid
adjusted EBITDA margins over the past 4 quarters.  Moody's expects
these trends to continue into 2011.

The stabilization of Thermadyne's rating outlook reflects the
expected increase in debt levels following Thermadyne's
acquisition by IPC.  Moody's views the increased leverage as a
shift away from the conservative financial policies that supported
the positive outlook for Thermadyne (Old) prior to it being taken
private by IPC.  While the indenture allows Thermadyne to prepay
up to 10% of the outstanding notes annually, the stable outlook
reflects Moody's view that debt reduction may be limited over the
near term since prepayment of the notes would require a premium.

More positively, Moody's believes that the terms of the new
capital structure will improve Thermadyne's financial flexibility
as there will not be any financial maintenance covenants other
than a springing fixed charge covenant test in the proposed
$60 million ABL revolver due 2015 (unrated).  The covenant would
spring if availability falls below $9 million, which is not
currently expected to occur.

Thermadyne's ratings/outlook could regain momentum if the new
ownership team demonstrated a willingness to use its modest cash
flow generation to reduce debt while maintaining current operating
margins.  Debt-to-EBITDA maintained below 4.5x, before
consideration of its preferred stock, would be viewed positively.
Moody's estimates that leverage will likely exceed 5.0x (inclusive
of operating leases) on a proforma basis at close.  Conversely,
Moody's does not view a ratings downgrade as likely over the
ratings horizon absent meaningful equity-friendly activities
and/or a sizeable debt financed acquisition.

Thermadyne, headquartered in Chesterfield, Missouri, is a global
designer and manufacturer of cutting and welding products used in
various fabrication, construction, and manufacturing operations.
Thermadyne's product categories include gas equipment, arc
accessories, plasma cutting systems, filler metals and hardfacing
alloys and welding equipment.  Net sales for the twelve months
ending September 30, 2010, were approximately $400 million.


THERMADYNE HOLDINGS: S&P Raises Corporate Credit Rating to 'B'
--------------------------------------------------------------
Standard & Poor's Ratings Services said that it has raised its
ratings on Thermadyne Holdings Corp., including S&P's corporate
credit rating to 'B' from 'B-'.  The outlook is positive.

At the same time, S&P is assigning a 'B-' issue-level rating to
the company's proposed $250 million senior secured notes with a
'5' recovery rating, indicating S&P's expectation of a modest
(10%-30%) recovery in the event of a payment default.  When the
company closes on the transaction S&P will withdraw its ratings on
the existing subordinated notes, which will be paid off with the
proceeds from the new notes, as well as other sources of
financing.

"The ratings on St. Louis, Mo.-based Thermadyne reflect the
company's highly leveraged financial risk profile following the
proposed additional debt taken on in its recent recapitalization,"
said Standard & Poor's credit analyst John Sico.  "Thermadyne is
being acquired by Irving Place Capital and, although some
additional debt will be taken on in the transaction, the company's
good recent EBITDA performance sustains credit metrics that are
still commensurate for the rating.  It also reflects the company's
weak, but improving, cash flow protection and limited financial
flexibility.  S&P considers Thermadyne's business risk profile to
be weak because of its relative position in the large, fragmented,
intensely competitive, and cyclical global welding-equipment
industry."

Through most of 2009, Thermadyne's operating and financial
performance reflected the weak industry conditions with some aid
from improved cost controls and inventory management, and somewhat
better product pricing.  However, improved business conditions
following the recession have contributed to more rapid improvement
in operations than S&P had previously forecast.  The weakness in
end markets has rebounded as reflected in the operating results
for the first nine months of 2010, which have also exceeded S&P's
expectations.  If volumes continue to grow, Thermadyne may need to
fund more working capital for its business needs.  It may also be
exposed to recently rising raw material prices, specifically for
copper, brass, and steel, which may affect its operating
performance.

Thermadyne has taken steps to improve its operating efficiency and
performance, including restructuring and reducing other
operational and administrative costs, revamping its sales
organization, expanding its product offering globally, moving some
manufacturing to lower-cost countries and improving supply chain
management, and standardizing its information systems.  The
company had also completed a series of small sales of poorly
performing operations.

The outlook is positive.  S&P could raise the ratings by one notch
if there is sustained improvement in the company's performance.
Even under moderating end-market conditions, S&P expects its
credit measures to improve.  Thermadyne has demonstrated improved
cash flows through the past year and better credit measures, and
S&P expects it to generate positive free cash flow.  The ratings
do not incorporate any significant acquisitions.

"S&P could lower the ratings if the current market conditions wane
and free cash flow dissipates, resulting in weaker liquidity and
covenant issues.  S&P could also revise the outlook or lower the
rating as a result of a more-aggressive financial policy that
extends total adjusted debt to EBITDA beyond the 6x area," Mr.
Sico added.


TIFTON BANKING COMPANY: Closed; Ameris Bank Assumes All Deposits
----------------------------------------------------------------
Tifton Banking Company of Tifton, Ga., and Darby Bank & Trust Co.
of Vidalia, Ga., were closed on Friday, November 12, 2010, by the
Georgia Department of Banking and Finance, which appointed the
Federal Deposit Insurance Corporation as receiver.  To protect
depositors, the FDIC entered into a purchase and assumption
agreement with Ameris Bank of Moultrie, Ga., to acquire the
banking operations, including all the deposits, of the two failed
Georgia-based institutions.  The two closed institutions were not
affiliated with one another.

The branches of the two closed institutions will reopen as
branches of Ameris Bank under their normal business hours,
including those with Saturday hours.  Depositors will
automatically become depositors of Ameris Bank.  Deposits will
continue to be insured by the FDIC, so there is no need for
customers to change their banking relationship to retain their
deposit insurance coverage up to the applicable limits.  Tifton
Banking Company operated one branch in Tifton, Georgia, and Darby
Bank & Trust Co. operated seven branches in Georgia.

Customers of the two failed institutions should continue to use
their former branches until they receive notice from Ameris Bank
that it has completed systems changes to allow other Ameris Bank
branches to process their accounts as well.

As of September 30, 2010, Tifton Banking Company had total assets
of $143.7 million and total deposits of $141.6 million, and Darby
Bank & Trust Co. had total assets of $654.7 million and total
deposits of $587.6 million.  Besides assuming all the deposits
from the two Georgia institutions, Ameris Bank will purchase
virtually all their assets.

The FDIC and Ameris entered into a loss-share transaction on
$560.2 million of the failed institutions' assets.  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 the transactions can call the
FDIC toll free: for Tifton Banking Company customers, 1-800-822-
0412, and for Darby Bank & Trust Co. customers, 1-800-823-5028.
Interested parties can also visit the FDIC's Web site:

for Tifton Banking Company:

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

and for Darby Bank & Trust Co.:

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

The FDIC estimates that the cost to the Deposit Insurance
Fund will be $24.6 million for Tifton Banking Company and
$136.2 million for Darby Bank & Trust Co.  Compared to other
alternatives, Ameris Bank's acquisition of all the deposits
of the two institutions was the least costly option for the
FDIC's DIF.

The two closed institutions were the 144th and 145th banks to fail
in the nation this year, and the 17th and 18th banks to close in
Georgia.  Prior to these failures, the last bank closed in the
state was The Gordon Bank, Gordon, on October 22, 2010.

                           *     *     *

Edwin W. Hortman, Jr., President & CEO of Ameris commented, "We
are appreciative of the opportunity to welcome customers and
employees of both Darby Bank & Trust Co. and Tifton Banking
Company to the Ameris Bank family.  Customers can be confident
that their deposits are safe and readily accessible.  Ameris Bank
has supported the financial needs of local communities since 1971.
It is exciting to gain new locations in and near established
offices that will further complement our existing presence in
these markets."

As a result of the Darby Bank & Trust Co. acquisition, Ameris Bank
will assume approximately $590.3 million in total deposits and
$402.4 million in total loans. Approximately $144.6 million in
total deposits and $118.9 million in total loans will be assumed
as a result of the Tifton Banking Company acquisition.
Substantially all of the loans and certain assets purchased from
the FDIC are covered under loss-sharing agreements that afford the
Company significant protection from losses.

Ameris Bank is a wholly-owned subsidiary of Ameris Bancorp,
headquartered in Moultrie, Georgia.


TODD FAMILY: Involuntary Chapter 11 Case Summary
------------------------------------------------
Alleged Debtor: Todd Family Properties, LLC
                1221 Vestavia Lane
                Vestavia, AL 35216
                Tel: (256) 312-9553

Bankruptcy Case No.: 10-06632

Involuntary Chapter 11 Petition Date: November 8, 2010

Court: U.S. Bankruptcy Court
       Northern District of Alabama (Birmingham)

Debtor's Counsel: Pro Se

Creditors who signed the Chapter 11 petition:

    Petitioners                    Nature of Claim    Claim Amount
    -----------                    ---------------    ------------
Mark Todd                          Loans                  $250,000
879 Launch Drive
Asheville, AL 35953

Zac Jones                          Construction            $65,000
P.O. Box 1188
Gadsden, AL 35902

Mike Fregeau                       Other Services          $10,000
1209 Sunset Drive
Guntersville, AL 35976


TRANS-LUX CORP: Not Successful in NYSE AMEX Delisting Appeal
------------------------------------------------------------
Trans-Lux Corporation (TLX 0.33, -0.11, -25.00%) , a leading
supplier of programmable electronic information displays, today
announced that it received a letter dated November 10, 2010 from
NYSE Amex LLC (the "Exchange") informing it that the Listings
Qualifications Panel of the Exchange's Committee on Securities
(the "Panel") has affirmed the determination to delist Trans-Lux's
Common Stock as of November 17, 2010.

Trans-Lux may request a review by the full Committee on Securities
within 15 calendar days from November 10, 2010, however, such a
request will not operate as a stay of the Panel's decision. The
Exchange, therefore, has informed Trans-Lux that it will suspend
trading in Trans-Lux's Common Stock as soon as practicable and
will file an application with the Securities and Exchange
Commission to strike Trans-Lux's Common Stock from listing and
registration on the Exchange when and if authorized.

The delisting also extends to the Company's 8.25% Limited
Convertible Senior Subordinated Notes (CUSIP 893247AE6) set to
mature in 2012.

J.M. Allain, Trans-Lux's Chief Executive Officer, advised, "We are
very disappointed to lose our listing after 85 years with the
Exchange. The loss will make our turnaround efforts more
difficult. The key was and continues to be the debt holders of the
company who have failed to engage in negotiations over a
restructuring of their notes in a fair and equitable way. The
Company has indicated to the 8.25% Note Holders, for instance,
that they would receive a substantial premium over the current
market value in a restructuring. Many Note Holders are apparently
holding out for more. They fail to understand that the Company
will not offer more and that they will get much less in an in-
court restructuring."

Trans-Lux is considering all of its options, including a possible
appeal. They also have not ruled out a Chapter 11 filing to
implement the restructuring plan that is currently on the table
with the creditors. "I have always maintained that everyone loses
in a bankruptcy, but the creditors will force my hand if they
continue to impede our restructuring efforts," Mr. Allain
concluded.

                        About Trans-Lux

Trans-Lux Corporation is a leading designer and manufacturer of
digital signage display solutions for the financial, sports and
entertainment, gaming and leasing markets. With a comprehensive
offering of LED Large Screen Systems, Fair-Play branded
Scoreboards, and Trans-Lux Energy LED lighting solutions, Trans-
Lux Corporation delivers comprehensive digital signage solutions
for any size venue's indoor and outdoor display needs. For more
information, please visit our web site at www.trans-lux.com.

Safe Harbor Statement under the Private Securities Reform Act of
1995

Trans-Lux may, from time to time, provide estimates as to future
performance. These forward-looking statements will be estimates,
and may or may not be realized by Trans-Lux. Trans-Lux undertakes
no duty to update such forward-looking statements. Many factors
could cause actual results to differ from these forward-looking
statements, including loss of market share through competition,
introduction of competing products by others, pressure on prices
from competition or purchasers of Trans-Lux's products, interest
rate and foreign exchange fluctuations, terrorist acts and war.


TRICO MARINE: Gets Notice of Termination of Use of Cash Collateral
------------------------------------------------------------------
On November 8, 2010, Trico Marine Services, Inc., received notice
from Obsidian Agency Services, Inc., as agent under the DIP Credit
Agreement dated as of August 24, 2010, as amended by Amendment No.
1 thereto dated as of September 21, 2010, and Amendment No. 2
thereto dated as of October 1, 2010, among the Company, the
Guarantors party thereto, the Lenders party thereto and Obsidian,
that (i) Events of Default have occurred and are continuing and
the balance in the Advance Account is no longer available to the
Debtors and (subject to clause (iii) below) the cash collateral is
no longer available to the Debtors; (ii) Obsidian thereby (a)
terminated the use of any Cash Collateral (after giving effect to
the Waiting Period); and (b) terminated any outstanding
Commitments and (iii) pursuant to the Interim Order, the consent
of the Prepetition First Lien Agent and the Prepetition First Lien
Lenders to the Company's and each other Debtor's use of cash
collateral pursuant to the Approved Budget will terminate on
November 13, 2010.

The DIP Credit Agreement provided for term loans in the maximum
principal amount of $35.0 million consisting of (i) new money
loans in the maximum principal amount of $10.0 million and (ii)
loans to refinance the loans incurred by the Company under that
certain Second Amended and Restated Credit Agreement, dated as of
June 11, 2010 (as amended to date, the "Prepetition First Lien
Loan Agreement") in the maximum principal amount of $25.0 million.
The DIP Credit Agreement was guaranteed by all subsidiaries of the
Company other than Trico Supply AS and its subsidiaries.

As of the date of the Notice, an aggregate of $10 million of new
money loans had been funded under the DIP Credit Agreement, of
which approximately $3.5 million had been released to the Company
from the Advance Account and the balance remained in the Advance
Account.

The Notice does not result in any material early termination
penalties to the Company.

In response to the Notice, on November 10, 2010, the Company filed
an emergency motion with the United States Bankruptcy Court for
the District of Delaware seeking authorization for the use of cash
collateral and requesting injunctive and related relief to enjoin
the Lenders under the DIP Credit Agreement from exercising
remedies under the DIP Credit Agreement and the Prepetition First
Lien Loan Agreement.  At the conclusion of the hearing held on
November 10, 2010, the Bankruptcy Court entered an order, among
other things, enjoining the Lenders from exercising any and all
enforcement rights and remedies and permitting the Debtors to use
cash collateral pursuant to a budget on an interim basis until
November 29, at which time a further hearing is scheduled to be
held regarding the use of cash collateral.

Tennenbaum DIP Opportunity Fund, LLC, is a lender under the
Company's Second Amended and Restated Credit Agreement dated as of
June 11, 2010, as amended, the DIP Credit Agreement, Trico
Shipping's Credit Agreement dated as of October 30, 2009, as
amended, and Trico Shipping's Priority Credit Agreement dated as
of September 21, 2010, as amended.  Obsidian serves as
administrative and collateral agent under the Prepetition First
Lien Loan Agreement.

A complete text of the Notice, dated November 8, 2010, by Obsidian
Agency Services, Inc., as Agent under the DIP Credit Agreement, ia
available for free at http://researcharchives.com/t/s?6e55

                        About Trico Marine

Headquartered in Texas, 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.  Postlethwaite & Netterville serves as the Debtors'
accountant and Ernst & Young LLP serves as tax advisors.
Pricewaterhousecoopers LLC provides the independent accountants
and tax advisors for the Debtors.

Aside from the Cayman Islands holding company, Trico's foreign
subsidiaries were not included in the filing and will not be
subject to the requirements of the U.S. Bankruptcy Code.


TRICO MARINE: Seeks Injunctive Relief Against DIP Lender
--------------------------------------------------------
BankruptcyData.com reports that Trico Marine Services filed with
the U.S. Bankruptcy Court a complaint seeking immediate injunctive
relief against its D.I.P. lender: Tennenbaum DIP Opportunity Fund.

According to the complaint, Trico Marine Services received a
notice from Tennenbaum claiming an event of default has occurred
under the D.I.P. financing agreement and its notifying the Company
of its intentions to terminate Trico Marine Services' access to
cash collateral and other things.  Trico asserts that the Company
is actively engaged in the sale of assets within the next 45 days
to sufficiently repay the total amount of the D.I.P. facility and
seek the preservation of status quo with respect to the D.I.P.
financing agreement.

                         About Trico Marine

Headquartered in Texas, 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.  Postlethwaite & Netterville serves as the Debtors'
accountant and Ernst & Young LLP serves as tax advisors.
Pricewaterhousecoopers LLC provides the independent accountants
and tax advisors for the Debtors.

Aside from the Cayman Islands holding company, Trico's foreign
subsidiaries were not included in the filing and will not be
subject to the requirements of the U.S. Bankruptcy Code.


TW TELECOM: Moody's Gives Positive Outlook; Affirms 'B1' Rating
---------------------------------------------------------------
Moody's Investors Service has changed the ratings outlook on tw
telecom inc.'s debt to Positive from Stable, reflecting the
Company's continuing good execution of its business plan which is
driving leverage lower and is generating growing free cash flow.
As part of the rating action, Moody's also affirmed the B1
corporate family and probability-of-default ratings of TWTC, and
its SGL-1 liquidity rating, including the ratings of the existing
debt instruments at TWTC and at its wholly owned subsidiary, tw
telecom holdings Inc.

Moody's also notes that the company has commenced an amendment
process with its lenders to extend the maturity of its senior
secured credit facilities and obtain more operating flexibility
under those agreements.  Specifically, the $80 million revolver
will be extended to 2014 from 2011, and the $578 million term loan
will be extended to 2016 from 2013.  While the transaction is not
expected to impact TWTC's credit metrics, the extended maturity of
a significant portion of its debt will enhance the Company's
already very good liquidity.  Moody's believes that a successful
execution of the amendment will better align the Company's debt
maturity profile with its assets, which are mainly long-term.

Moody's has taken these rating actions:

At tw telecom inc.:

* Outlook -- Changed to Positive from Stable

                        Ratings Rationale

TWTC's corporate family rating is solidly positioned in the B1
rating category, which reflects the Company's track record of
strong operating performance driven by the revenue growth in the
enterprise segment and the Company's position as one of the
largest competitive telecommunications providers, with a footprint
covering 75 of the top 100 markets in the U.S. Despite the severe
recession during most of 2009, and a slow recovery in 2010, TWTC
was able to grow revenue in each quarter over that time frame,
reflecting strong execution and the growing demand for Ethernet
and IP-based products from enterprise customers.  The Company's
results reinforce its differentiated business model that relies on
a fiber-rich network with over 11,000 direct connections to
buildings and major customers, eliminating the need to rely on
incumbent carriers for a critical portion of its last mile
connections.  TWTC carries the majority of traffic on its own
network, which allows the Company to generate industry-leading
EBITDA margins and the ability to bundle other telecommunications
products and services, which in turn reduces churn.  The rating is
tempered by elevated levels of capital spending that are inherent
to TWTC's business model, and the Company's challenging
competitive position.  Moody's expects the Company will continue
to be a consolidator in the CLEC industry.  However, Moody's
expect that future acquisitions will not materially alter the
Company's leverage and operational risk profile.

                          Rating Outlook

The positive rating outlook reflects Moody's expectations that
despite the challenging economic environment, TWTC's EBITDA will
continue to grow, and coupled with expected moderation of capital
expenditures should generate growing free cash flow.

                What Could Change the Rating -- Up

Upward rating pressure could develop if earnings growth and
benefits from recent network investments lead to stronger free
cash flow generation such that TWTC's free cash flow exceeds 10%
of its total adjusted debt, and the Company's leverage (Moody's
adjusted Total Debt-to-EBITDA) can be maintained below 3.0x.

               What Could Change the Rating -- Down

The rating and/or outlook is likely to come under pressure if
TWTC's operating performance deteriorates due to increasing
competition, changes in the regulatory environment or persisting
weakness in the economic environment beyond Moody's current
expectations, such that leverage cannot be maintained below 4.5x.

Moody's most recent rating action for TWTC was on March 3, 2010,
when Moody's assigned a B2 rating to a TWTH senior unsecured note
issuance.

tw telecom inc., headquartered in Littleton, CO, provides data,
dedicated Internet access, and local and long distance voice
services to business customers and organizations in 75
metropolitan markets in the United States.  The Company generated
$1.3 billion in revenue for the trailing twelve months ended
9/30/10.


TW TELECOM: S&P Assigns 'B+' Rating to $80 Mil. Senior Loan
-----------------------------------------------------------
Standard & Poor's Ratings Services said it assigned issue-level
ratings to Littleton, Colorado-based tw telecom holdings inc.'s
extended $80 million senior secured revolver and up to
$578 million term loan.  S&P rate the new facility 'B+' (the same
as the corporate credit rating) with a recovery rating of '3',
indicating S&P's expectation for meaningful (50%-70%) recovery for
lenders in the event of payment default.

The rating action follows the company's announcement that it plans
to amend its credit facility and extend the maturity on the
revolver to December 2014 from October 2011 and a portion of its
term loan to December 2016 from January 2013.

At the same time, S&P affirmed all other ratings, including the
'B+' corporate credit rating on parent company tw telecom inc.,
which is a competitive local exchange carrier.  The outlook is
stable.  Total funded debt was about $1.4 billion as of Sept. 30,
2010.

"Although the amendment and extension to the senior secured credit
facility will help to smooth tw telecom's debt maturity profile
and provide some covenant flexibility, the near-term impact on its
financial profile is negligible," said Standard & Poor's credit
analyst Allyn Arden.


UNITRIN INC: Moody's Assigns 'Ba2' Rating to Preferred Shelf
------------------------------------------------------------
Moody's Investors Service has affirmed the Baa3 senior debt rating
of Unitrin, Inc., as well as the A3 insurance financial strength
ratings of its lead property and casualty and life insurance
subsidiaries, respectively, Trinity Universal Insurance Company
and United Insurance Company of America.  In the same rating
action, Moody's also assigned provisional ratings (senior at
(P)Baa3, preferred at (P)Ba2) to Unitrin's new shelf registration.
The company maintains its shelf registration statement for general
corporate purposes, which may include: acquisitions, repayment or
refinancing of debt, stock repurchases and investments in
subsidiaries.  The outlook for the ratings is stable.

Moody's Senior Credit Officer, Pano Karambelas said "the company
has taken actions to strengthen its financial flexibility and
improve its operations." Most importantly, the wind down of its
Fireside Bank subsidiary is proceeding in an orderly fashion;
Trinity has strengthened its capital adequacy by reducing
catastrophe exposure in high-risk zones; and Unitrin has improved
the quality of its investment portfolio by substantially reducing
the size and concentration of its equity portfolio.  Further, the
group's adjusted financial leverage is within Moody's expectation
at about 30% as of September 30, 2010.

                          P&C Insurance

According to Moody's, the affirmation of Unitrin's lead property
and casualty company, Trinity Universal Insurance Company (A3
IFS), is based on the group's franchise as a largely personal
lines operation with a fairly broad geographic distribution, good
asset quality, sound reserve position and adequate risk adjusted
capitalization.  These strengths are somewhat offset by the
group's limited scale, exposure to natural catastrophes, somewhat
volatile earnings, and unprofitable operating results from the
direct operation.  The company has implemented a number of
initiatives aimed at improving rate adequacy and risk selection
across the P&C group.  In particular, policies in force in the
direct operations have declined 20% over the last year, reflecting
rate-increases designed to improve the risk profile of the
underwriting portfolio.

                          Life Insurance

The affirmation of the group's lead life insurance company, United
Insurance Company of America (United, A3 IFS), is based on its
good position in the home service insurance business, its well-
established career agent distribution force, and the consistent
profitability of the home service insurance business.  Somewhat
mitigating these strengths are: the company's modest market
presence, franchise, and brand in the overall life insurance
market; and limited growth opportunities in the declining home
service insurance business.  The home service business has been in
a slow, steady decline in the U.S. for many years, which is
evidenced by sluggish revenue growth.  This business services a
large, underserved portion of the U.S. population that most
insurance providers find uneconomical.

Unitrin's senior debt is notched three notches below the financial
strength of its lead property/casualty and life insurance
operations, consistent with Moody's typical notching practices for
U.S. holding company structures.  Although the debt rating is
supported by relatively balanced earnings of both the P&C and life
businesses, underwriting profitability of the P&C group has been
weak in recent years.  As the company improves the consistency of
its P&C earnings as part of its re-underwriting efforts, while
maintaining stability in its life business, Moody's could consider
narrowing the notching between the holding company debt rating and
the IFS ratings to reflect the benefits of diversification.

Factors that would lead to an upgrade of the debt ratings include
improved financial flexibility, improved, sustained P&C operating
performance (i.e., consistent returns on surplus above 10%),
and/or strengthening of capital adequacy (gross underwriting
leverage at or below 3x and/or lifeco RBC above 300%).  Factors
that could lead to a downgrade of the debt ratings include
deterioration of underwriting performance (i.e., consistent
returns on surplus below 5%), weaker capital adequacy (gross
underwriting leverage of 5x or higher and/or lifeco RBC below
250%), and/or adjusted capital financial leverage above 40%.

These ratings have been assigned with a stable outlook:

* Unitrin, Inc. -- senior debt at (P)Baa3, preferred stock at
  (P)Ba2.  Note: Moody's expects that future offerings of senior
  unsecured notes under the current shelf will be rated at the
  same level as the provisional rating of the shelf.

Unitrin is a publicly-traded, diversified insurance operation
based in Chicago, Illinois.  Through the first nine months of
2010, Unitrin reported total revenue of $2.1 billion and net
income of $122 million.  Shareholders' equity at September 30,
2010, was $2.2 billion.


UNIVISION COMMUNICATIONS: Fitch Puts 'CCC/RR6' Rating on Notes
--------------------------------------------------------------
Fitch Ratings has assigned a 'CCC/RR6' rating to Univision
Communications' 10-year senior unsecured note offering.  Fitch
currently has a 'B' Issuer Default Rating for Univision.  The
Rating Outlook is Stable.

Fitch expects the proceeds of the issuance will be used to fund
the recently announced tender of up to $460 million of the
9.75%/10.50% Senior paid-in-kind toggle notes due 2015.  Pro forma
for the tender, there will be approximately $1.3 billion of 2015
PIK notes remaining.

This issuance and tender is another in a series of transactions
that the company has undertaken in the wake of the extension of
its Program License Agreement PLA with Grupo Televisa to 2025
from 2017.  The PLA extension strengthened Univision's future
operating prospects, providing improved access to the capital
markets and a willingness to lend past 2017.  This has and should
continue to enable Univision to improve its capital structure
and best position itself to address its bank debt maturities over
the next several years.  Univision recently extended the maturity
of $5.7 billion of its secured bank debt to March 2017 from
September 2014 and $409 million of its Revolving Credit Facility
to March 2016 from March 2014.  Additionally, the company issued
$750 million of secured debt in October, which it used to repay a
portion of the bank debt.  The company will also use $1.1 billion
of the cash proceeds received from Grupo Televisa to repay the PIK
notes (the Televisa transaction is expected to close in the first
half of 2011).  Subsequently, there will be less than $200 million
of PIK notes outstanding, which Fitch expects the company will be
able to address with free cash flow prior to or at the 2015
maturity.

While the company previously faced over $4 billion of
maturities in 2014, these transactions have reduced this amount
to $1.7 billion, which Fitch believes the company will be able
to address with a combination of bond issuance and free cash
flow.  The significant maturity wall is now in 2017, providing
a much larger cushion for Univision to strengthen its operating
and credit profile.

Fitch believes that the private equity owners and the secured
lenders remain motivated to facilitate Univision's long-term
viability, as refinancing an improved operating and credit profile
will provide more value than bankruptcy/debt restructuring.
Underpinning this position is Fitch's view that the company will
be able to delever to a range of 7 times to 9x total leverage or
5x-7x on a secured basis by the 2017 maturity.

The ratings incorporate Fitch's favorable outlook on the U.S.
Hispanic broadcasting industry, given expectations for continued
growth in size and spending power of this demographic.  Univision
benefits from a leading market position, with duopoly television
and radio stations in most of the top Hispanic markets, and a
national overlay of broadcast and cable networks.  Fitch expects
mid-single-digit revenue growth (excluding largely pass-through
World Cup revenue) and low/mid-teens EBITDA growth in 2010, driven
by an improvement in advertising revenue, growth in high-margin
retransmission fees, and the positive operating leverage embedded
in the broadcasting business.  Fitch's positive view extends
through the intermediate term, and as a result Univision's capital
structure is expected to further improve over the next several
years.

Fitch regards current liquidity as adequate, particularly in light
of minimal near-term maturities.  At Sept. 30, 2010, liquidity
consisted of $328 million of cash and $120 million available under
the $300 million accounts receivable securitization facility, of
which $45 million expires in March 2012 and $255 million expires
in December 2013.  Fitch believes that amortization and cash
interest expense will be easily covered by internal cash
generation.  Fitch expects the company to return to cash-pay on
the PIK note stub subsequent to the partial repayment with the
Televisa proceeds.  Fitch expects that going forward, annual free
cash flow should approximate $300 million, a significant
improvement from recent years.  Higher borrowing costs on the
extended term loan and RCF will increase cash interest expense;
however, the repayment of most of the PIK notes and expected cash-
pay will be a partial offset in later years.  Fitch anticipates
that free cash flow will be used primarily for debt reduction.

Fitch estimates that pro forma for all of the previously
announced transactions, which occurred subsequent to the end of
the company's fiscal third quarter 2010, Univision had total debt
of $10.4 billion, which consisted primarily of:

  -- $6.6 billion senior secured term loan facility, (including
     the delayed draw term loan), $1.1 billion of which is due
     September 2014 and $5.5 billion which is due March 2017;

  -- $577 million outstanding under the RCF, of which $54 million
     is due March 2014, $409 million is due March 2016, and
     $137 million was termed out to March 2017;

  -- $514 million accreted value ($545 million face value) 12%
     senior secured notes due July 2014;

  -- Approximately $200 million 9.75%/10.5% PIK senior unsecured
     notes due March 2015;

  -- $750 million 7.875% senior secured notes due 2020;

  -- $1.2 billion convertible debentures issued to Grupo Televisa,
     due 2025;

  -- The newly issued unsecured notes;

  -- $180 million outstanding under the A/R securitization
     facility, due December 2013.

Fitch's existing ratings for Univision are:

  -- Issuer Default Rating 'B';
  -- Senior secured 'B+/RR3';
  -- Senior unsecured 'CCC/RR6'.


USG CORP: Discloses Pricing of Offering of 8.375% Sr. Notes
-----------------------------------------------------------
USG Corporation announced the pricing of a private offering of
$350 million aggregate principal amount of its 8.375 percent
senior notes due 2018.  The notes will be the unsecured
obligations of USG.  USG's obligations under the notes will be
guaranteed on a senior unsecured basis by certain of its domestic
subsidiaries.  The notes will be sold to investors at a price of
100.00 percent of the principal amount of the notes, plus accrued
interest from November 9, 2010, if any.  The offering of the notes
is expected to close on or about November 9, 2010.

USG intends to use the net proceeds from the sale of the notes for
general corporate purposes, which may include the repayment of
indebtedness, working capital, capital expenditures and
acquisitions.

The notes will be offered and sold only to qualified institutional
buyers in accordance with Rule 144A under the Securities Act of
1933, as amended, and to non-U.S. persons in accordance with
Regulation S under the Securities Act.  When issued, the notes
will not have been registered under the Securities Act or state
securities laws and may not be offered or sold in the U.S. absent
registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state securities
laws.

                         About USG Corp.

USG Corporation, headquartered in Chicago, Illinois, is a leading
producer and distributor of building materials in the Unites
States, Canada and Mexico.  The company manufactures and markets
gypsum wallboard and operates a specialty distribution business
that sells to professional contractors.  It also manufactures
ceiling tiles and ceiling grids used primarily in commercial
applications.  Revenues for the last 12 months through March 31,
2010, totaled approximately $3.1 billion.

                           *     *     *

As reported by the Troubled Company Reporter on November 8, 2010,
Moody's Investors Service assigned a B2 rating to USG
Corporation's new senior unsecured notes, and affirmed its Caa1
Corporate Family Rating and Caa1 Probability of Default Rating.
USG's speculative grade liquidity rating remains SGL-3.  The
outlook is stable.

The Caa1 Corporate Family Rating results from weak operating
performance.  Low capacity utilization rates of approximately 45%
at its gypsum manufacturing facilities make it difficult for USG
to overcome its high fixed costs.  Moody's projects that potential
demand increases for wallboard from North American new home
construction and repair and remodeling will not be adequate to
generate sufficient volumes and operating profits to cover USG's
interest expense over the intermediate term.  Furthermore, the
non-residential construction end market, which accounts for about
30% of USG's revenues, is expected to face stagnant growth well
into 2011.  The amount of profits derived from the company's
worldwide ceilings business is not enough to make up shortfalls in
the gypsum and distribution businesses.  For the last twelve
months through September 30, 2010, operating margins remain
substandard at negative 4.9% and leverage is very high at debt-to-
EBITDA of 27.2 times.  The company's inability to generate
positive earnings will result in very weak credit metrics for the
foreseeable future and will require cash to fund operating
shortfalls.


VISHAY INTERTECHNOLOGY: S&P Assigns 'BB' Rating to $275 Mil. Notes
------------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned a 'BB' rating
to Vishay Intertechnology Inc.'s $275 million senior unsecured
convertible debentures due 2040.  The rating is the same as S&P's
corporate credit rating on the company.  The recovery rating is
'4', indicating average (30%-50%) recovery in the event of a
payment default.  Vishay's rating has sufficient capacity to
accommodate the new debt without affecting the corporate credit
rating and stable outlook.

"The ratings on Vishay reflect its competitive and fragmented
markets, volatile operating trends through a business cycle, and
expectations for a somewhat leveraged capital structure over
time," said Standard & Poor's credit analyst Lucy Patricola.
Selected leading market positions among its product portfolio, a
diverse customer base, and low technology risks partially mitigate
these factors.


WEST END: Case Summary & 3 Largest Unsecured Creditors
------------------------------------------------------
Debtor: West End Property Management, LLC
        2952 Highway 70
        Black Mountain, NC 28711

Bankruptcy Case No.: 10-11317

Chapter 11 Petition Date: November 10, 2010

Court: U.S. Bankruptcy Court
       Western District of North Carolina (Asheville)

Judge: George R. Hodges

Debtor's Counsel: Edward C. Hay, Jr., Esq.
                  PITTS, HAY & HUGENSCHMIDT, P.A.
                  137 Biltmore Avenue
                  Asheville, NC 28801
                  Tel: (828) 255-8085
                  Fax: (828) 251-2760
                  E-mail: ehay@phhlawfirm.com

Scheduled Assets: $950,000

Scheduled Debts: $1,358,457

A list of the Company's three largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ncwb10-11317.pdf

The petition was signed by Robert Allen Burpeau, Sr.,
member/manager.


WEST PENN: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: West Penn Billiard & Trophy Corporation
        3221 Babcock Boulevard
        Pittsburgh, PA 15237

Bankruptcy Case No.: 10-28001

Chapter 11 Petition Date: November 10, 2010

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

Judge: Judith K. Fitzgerald

Debtor's Counsel: James A. Prostko, Esq.
                  PROSTKO & SANTILLAN, LLC
                  650 Corporation Street, Suite 304
                  Beaver, PA 15009
                  Tel: (724) 770-1040
                  Fax: (412) 774-2266
                  E-mail: jprostko@fyi.net

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

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/pawb10-28001.pdf

The petition was signed by George Leon, president.


WOLF CREEK: Can Obtain $350,000 to Fund its Business Operations
---------------------------------------------------------------
The Hon. Joel T. Marker of the U.S. Bankruptcy Court for the
District of of Utah authorized Wolf Creek Properties, LC, to
obtain postpetition financing from Lowell Peterson and KBC
Leasing, LLC.

The secured party committed to extend a principal sum of $350,000
under a promissory note.  Interest will be charged on the
principal balance of the note at the rate 18% per annum.

The Debtor would use the money to fund its operations
postpetition.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtor will grant the secured party liens in its
assets.

                 About Wolf Creek Properties, LC

Eden, Utah-based Wolf Creek Properties, LC, filed for Chapter 11
bankruptcy protection on June 9, 2010 (Bankr. D. Utah Case No. 10-
27816).  Blake D. Miller, Esq., at Miller Guymon, PC, represents
the Debtor.  The Company disclosed $86,496,598 in assets and
$20,646,001 in liabilities as of the Petition Date.


WOLF CREEK: Can Sell GMC Sierra Truck to Jeff Wilhelmsen
--------------------------------------------------------
The Hon. Joel T. Marker of the U.S. Bankruptcy Court for the
District of of Utah authorized Wolf Creek Properties, LC, to sell
that certain 1998 GMC Sierra Truck, VIN No. 1GTEK19R8WR518806, to
Jeff Wilhelmsen, free and clear of all interests, liens, claims
and encumbrances.

Eden, Utah-based Wolf Creek Properties, LC, filed for Chapter 11
bankruptcy protection on June 9, 2010 (Bankr. D. Utah Case No. 10-
27816).  Blake D. Miller, Esq., at Miller Guymon, PC, represents
the Debtor.  The Company disclosed $86,496,598 in assets and
$20,646,001 in liabilities as of the Petition Date.


WOLF CREEK: Promises Unsecured Creditors to Recover 67% of Claims
-----------------------------------------------------------------
Wolf Creek Properties, LC, submitted to the U.S. Bankruptcy Court
for the District of of Utah 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.

The Debtor develops, owns and operates the Wolf Creek Utah Resort
and Club in Eden, Utah.

According to the Disclosure Statement, the Plan provides for the
continuation of the Debtor's efforts to obtain funding or equity
investment necessary to preserve the value of the resort as a
whole.  If a funding event timely occur, creditors will be paid
out of the funding event and the operations of the resort.  If
these funding efforts not be successful by 12 months from the
Effective
Date of the Plan, a structured liquidation of the Debtor's assets
will be performed.  Creditors and interest holders would then be
paid from the proceeds of the liquidation sales.

Under the Plan, Class 13 - Unsecured Claims - If a funding event
occurs within 12 months after the Effective Date, Claim holders
will receive quarterly payments which will total, in the aggregate
66.67% of their Allowed Claim.  If a funding event does
not occur within 12 months after the Effective Date, claim holders
will receive on the Liquidation Fund Distribution Date, a pro rata
share of the Liquidation Fund as of that date, up to a maximum of
66.67% of their respective Allowed Claims.

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

The Debtor is represented by:

      Blake D. Miller, Esq.
      James W. Anderson, Esq.
      MILLER GUYMON, P.C.
      165 Regent Street
      Salt Lake City, Utah 84111
      Tel: (801) 363-5600
      Fax: (801) 363-5601
      E-mail: miller@millerguymon.com
              anderson@millerguymon.com

                 About Wolf Creek Properties, LC

Eden, Utah-based Wolf Creek Properties, LC, filed for Chapter 11
bankruptcy protection on June 9, 2010 (Bankr. D. Utah Case No. 10-
27816).  The Company disclosed $86,496,598 in assets and
$20,646,001 in liabilities as of the Petition Date.


WORKFLOW MANAGEMENT: Files Revised Plan with Full Payment for All
-----------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Workflow Management Inc. filed a revised
reorganization plan that allows shareholders to retain their stock
while aiming to pay all creditors in full.

According to Mr. Rochelle, holders of about $137 million in first-
lien debt would receive a new 3 1/2-year note with interest paid
quarterly at 7.5%.  Amortization payments would begin in mid-2011
at $4 million a year and rise to $12 million at an annual rate.
Second-lien creditors, owed about $205 million, would receive a
note maturing at the end of 2015 paying 8.75% interest in cash and
an additional 2.75% in more notes.  There would be no principal
payments until maturity.

Mr. Rochelle adds that for voting purposes, the plan puts
creditors in separate classes if they own both first- and second-
lien debt.  Holders of $91 million in unsecured notes would have
their obligation reinstated, with no interest accruing during the
Chapter 11 case and the non-default rate paid thereafter.
Unsecured creditors with about $12.7 million in claims would
receive half when the plan is implemented and the other half two
months later, without interest.

A hearing to consider approval of the explanatory disclosure
statement takes place on Dec. 15.

                    About Workflow Management

Headquartered in Dayton, Ohio Workflow Management, Inc., fka
Workflow Graphics, Inc. -- http://www.workflowone.com/-- offers
commercial printing services, including print buying and document
management capabilities, through three divisions: WorkflowOne,
Freedom Graphics Services, and United Envelope.  It also
distributes office products and promotional items through an
online ordering system.  Its customers include both small and
large companies throughout North America in such sectors as
financial services, health care, retail, and government.

Workflow Management Inc., and its affiliates, filed for Chapter 11
bankruptcy protection on September 29, 2010 (Bankr. E.D. Va. Lead
Case No. 10-74617).  Cullen A. Drescher, Esq., Daniel F. Blanks,
Esq., Douglas M. Foley, Esq., and Patrick L. Hayden, Esq., at
McGuireWoods LLP; Sarah Beckett Boehm, Esq., at McGuireWoods LLP;
and Rosa J. Evergreen, Esq., at Arnold & Porter LLP, assist the
Debtors in their restructuring effort.  Arnold & Porter LLP is the
Debtors' special counsel.  Kaufman & Canoles, P.C., is the
Debtors' corporate counsel.  FTI Consulting is the Debtors'
financial advisor.  Kurtzman Carson Consultants LLC is the
Debtors' claims agent.

Workflow Management estimated its assets and debts at $100 million
to $500 million as of the Petition Date.


* Year's Total Bank Failures Now at 146
---------------------------------------
Regulators on November 12 closed Darby Bank & Trust Co., Vidalia,
GA; Copper Star Bank, Scottsdale, AZ; and Tifton Banking Company,
Tifton, GA.

The Federal Deposit Insurance Corp., appointed as receiver for the
banks, signed a purchase and assumption agreement with Ameris
Bank, Moultrie, Georgia, to acquire the banking operations,
including all the deposits, of Darby Bank and Tifton Banking.
Stearns Bank took over the deposits of Copper Star Bank.

The number of bank failures in 2010 -- which now stand at 146 --
have eclipsed the total bank failures seen last year.  In all of
2009, 140 banks failed.

                     2010 Failed Banks List

The FDIC was appointed as receiver for the closed banks.  To
protect the depositors, the FDIC entered into a purchase and
assumption agreement with various banks that agreed to assume the
deposits of most of the closed banks.  The FDIC also entered into
loss-share transactions on assets bought by the banks.

For this year, the failed banks are:

                                   Loss-Share
                                 Transaction Party     FDIC Cost
                     Assets of    Bank That Assumed   to Insurance
                    Closed Bank  Deposits & Bought      Fund
   Closed Bank       (millions)   Certain Assets       (millions)
   -----------       ----------   --------------      -----------
Darby Bank & Trust      $654.7    Ameris Bank             $136.2
Copper Star Bank        $204.0    Stearns Bank             $43.6
Tifton Banking          $143.7    Ameris Bank              $24.6

Western Commercial       $98.6    California Bank          $25.2
First Vietnamese         $48.0    Grandpoint Bank           $9.6
Pierce Commercial       $221.1    Heritage Bank            $21.3
K Bank                  $538.3    Manufacturers & Traders $198.4
The Gordon Bank          $29.4    Morris Bank               $9.0
Progress Bank of Fla.   $110.7    Bay Cities Bank          $25.0
First Arizona           $272.2    No Acquirer              $32.8
First Bank of Jack.      $81.0    Ameris Bank              $16.2
Hillcrest Bank, KS    $1,650.0    Hillcrest Bank, N.A.    $329.7
First Suburban          $148.7    Seaway Bank and Trust    $31.4
First Nat'l of Barn.    $131.4    United Bank              $33.9
Premier Bank          $1,180.0    Providence Bank.        $406.9
WestBridge Bank          $91.5    Midland States Bank      $18.7
Security Savings Bank   $508.4    Simmons First            $82.2
Wakulla Bank            $424.1    Centennial Bank         $113.4
Shoreline Bank          $104.2    GBC International        $41.4
Haven Trust Bank        $148.6    First Southern           $31.9
North County Bank       $288.8    Whidbey Island           $72.8
First Commerce          $248.2    Community & Southern     $71.4
Bank of Ellijay         $168.8    Community & Southern     $55.2
Bramble Savings Bank     $47.5    Foundation Bank          $14.6
Maritime Savings Bank   $350.5    North Shore Bank         $83.6
The Peoples Bank        $447.2    Community & Southern     $98.9
ISN Bank                 $81.6    Customers Bank           $23.9
Horizon Bank            $187.8    Bank of the Ozarks       $58.9
Los Padres Bank         $870.4    Pacific Western           $8.7
Pacific State Bank      $312.1    Rabobank, N.A.           $32.6
ShoreBank             $2,160.0    Urban Partnership       $367.7
Butte Community Bank    $498.8    Rabobank, N.A.           $17.4
Sonoma Valley Bank      $337.1    Westamerica Bank         $10.1
Imperial Savings & Loan   $9.4    River Community           $3.5
Community National       $67.9    CenterState Bank of Fla. $10.3
Independent National    $156.2    CenterState Bank of Fla. $23.2
Palos Bank and Trust    $493.4    First Midwest Bank       $72.0
Ravenswood Bank         $264.6    Northbrook Bank & Trust  $68.1
Northwest Bank & Trust  $167.7    State Bank and Trust     $39.8
Bayside Savings Bank     $66.1    Centennial Bank, Conway  $16.2
Coastal Community Bank  $362.9    Centennial Bank, Conway  $94.5
The Cowlitz Bank        $529.3    Heritage Bank            $68.9
LibertyBank             $768.2    Home Federal Bank       $115.3
The Cowlitz Bank        $529.3    Heritage Bank            $68.9
Coastal Community       $372.9    Centennial Bank          $94.5
Bayside Savings          $66.1    Centennial Bank          $16.2
NorthWest Bank          $167.7    State Bank and Trust     $39.8
Williamsburg First      $139.3    First Citizens Bank       $8.8
Thunder Bank, Sylvan     $32.6    The Bennington State      $4.5
Community Security      $108.0    Roundbank, Waseca        $18.6
Crescent Bank         $1,010.0    Renasant Bank           $242.4
Sterling Bank           $407.9    IBERIABANK               $45.5
Home Valley Bank        $251.8    South Valley Bank        $37.1
SouthwestUSA Bank       $214.0    Plaza Bank, Irvine       $74.1
Turnberry Bank          $263.9    NAFH National            $34.4
First National Bank     $682.0    NAFH National            $74.9
Mainstreet Savings       $97.4    Commercial Bank          $11.4
Woodlands Bank          $376.2    Bank of the Ozarks      $115.0
Metro Bank of Dade      $442.3    NAFH National            $67.6
Olde Cypress Community  $168.7    CenterState Bank         $31.5
USA Bank, Port Chester  $193.3    New Century Bank         $61.7
Bay National Bank       $282.2    Bay Bank, FSB            $17.4
Ideal Federal Savings     $6.3    -- None --                $2.1
Home National Bank      $644.5    RCB Bank, Claremore      $78.7
First National          $252.5    The Savannah Bank        $68.9
High Desert              $80.3    First American           $20.9
Peninsula Bank          $644.3    Premier American        $194.8
Nevada Security Bank    $480.3    Umpqua Bank              $80.9
Washington First        $520.9    East West Bank          $158.4
TierOne Bank          $2,800.0    Great Western Bank      $297.8
Arcola Homestead         $17.0    -- None --                $3.2
First National Bank      $60.4    Jefferson Bank           $12.6
Sun West Bank           $360.7    City National Bank       $96.7
Granite Community       $102.9    Tri Counties Bank        $17.3
Bank of Fla- Southeast  $595.3    EverBank                 $71.4
Bank of Fla- Southwest  $559.9    EverBank                 $91.3
Bank of Fla- Tampa Bay  $245.2    EverBank                 $40.3
Pinehurst Bank           $61.2    Coulee Bank               $6.0
Southwest Community      $96.6    Simmons First Nat'l      $29.0
New Liberty Bank        $109.1    Bank of Ann Arbor        $25.0
Satilla Community Bank  $135.7    Ameris Bank              $31.3
Midwest Bank & Trust  $3,170.0    Firstmerit Bank         $216.4
1st Pacific Bank        $335.8    City National Bank       $87.7
Access Bank              $32.0    PrinsBank, Prinsburg      $5.5
Towne Bank of Ariz      $120.2    Commerce Bank            $41.8
The Bank of Bonifay     $242.9    First Federal Bank       $78.7
Frontier Bank         $3,500.0    Union Bank, NA        $1,370.0
BC National Banks        $67.2    Community First          $11.4
Champion Bank           $187.3    BankLiberty              $52.7
CF Bancorp            $1,650.0    First Michigan Bank     $615.3
Westernbank PR       $11,940.0    Banco Popular de PR   $3,310.0
R-G Premier Bank      $5,920.0    Scotiabank de PR      $1,230.0
Eurobank, SJ, PR      $2,560.0    Oriental Bank & Trust   $743.9
Lincoln Park Savings    $199.9    Northbrook Bank          $48.4
Peotone Bank            $130.2    First Midwest            $31.7
Wheatland Bank          $437.2    Wheaton Bank            $133.0
New Century Bank        $485.6    MB Financial            $125.3
Citizens Bank&Trust      $77.3    Republic Bank            $20.9
Broadway Bank         $1,200.0    MB Financial            $394.3
Amcore Bank           $3,800.0    Harris                  $220.3
Lakeside Community       $53.0    People's United          $11.2
Innovative Bank         $268.9    Center Bank              $37.8
City Bank             $1,130.0    Whidbey Island          $323.4
Butler Bank             $233.2    People's United          $22.9
AmericanFirst Bank       $90.5    TD Bank, N.A.            $10.5
First Federal           $393.3    TD Bank, N.A.             $6.0
Riverside National    $3,420.0    TD Bank, N.A.           $491.8
Tamalpais Bank          $628.9    Union Bank, N.A.         $81.1
Beach First National    $585.1    Bank of NC              $130.3
McIntosh Commercial     $362.9    CharterBank, West Point $123.3
Desert Hills Bank       $496.6    New York Community Bank $106.7
Unity National Bank     $292.2    Bank of the Ozarks       $67.2
Key West Bank            $88.0    Centennial Bank          $23.1
State Bank of Aurora     $28.2    Northern State Bank       $4.2
First Lowndes Bank      $137.2    First Citizens Bank      $38.3
Bank of Hiawassee       $377.8    Citizens South Bank     $137.7
Appalachian Community $1,010.0    Community & Southern    $419.3
Advanta Bank Corp.    $1,600.0    - None -                $635.6
Century Security         $96.5    Bank of Upson            $29.9
American National        $70.3    National Bank and Trust  $17.1
The Park Avenue Bank    $520.1    Valley National Bank     $50.7
Statewide Bank          $243.2    Home Bank, Lafayette     $38.1
Old Southern Bank       $315.6    Centennial Bank          $94.6
LibertyPointe Bank      $209.7    Valley National          $24.8
Sun American Bank       $535.7    First-Citizens Bank     $103.8
Waterfield Bank         $155.6    {FDIC Created}           $51.0
Centennial Bank         $215.2    Zions Bank               $96.3
Bank of Illinois        $211.7    Heartland Bank           $53.7
Rainier Pacific Bank    $446.2    Umpqua Bank, Roseburg    $95.2
Carson River Community   $51.1    Heritage Bank of Nevada   $7.9
George Washington       $412.8    FirstMerit Bank         $141.4
La Jolla Bank         $3,600.0    OneWest Bank, FSB       $882.3
The La Coste Nat'l       $53.9    Community National        $3.7
Marco Community Bank    $119.6    Omaha Bank               $38.1
1st American State       $18.2    Community Development     $3.1
First National Bank     $832.6    Community & Southern    $260.4
Florida Community       $875.5    Premier American Bank   $352.6
American Marine Bank    $373.2    Columbia State Bank      $58.9
Marshall Bank, N.A.      $59.9    United Valley Bank        $4.1
First Regional Bank   $2,180.0    First-Citizens Bank     $825.5
Comm. Bank & Trust    $1,210.0    SCBT, N.A.              $354.5
Charter Bank          $1,200.0    Charter, Albuquerque    $201.9
Evergreen Bank          $488.5    Umpqua Bank, Roseburg    $64.2
Columbia River Bank   $1,100.0    Columbia State Bank     $172.5
Bank of Leeton           $20.1    Sunflower Bank            $8.1
Premier American Bank   $350.9    Bond Street subsidiary   $85.0
Town Community           $69.6    Bank First American      $17.8
St. Stephen State        $24.7    First State Bank          $7.2
Barnes Banking          $827.8    {DINB Created}          $271.3
Horizon Bank          $1,400.0    Washington Federal      $539.1

In 2009, there were 140 failed banks, compared with just 25 for
2008.

A complete list of banks that failed since 2000 is available at:

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

             829 Banks Now in FDIC's Problem List

The Federal Deposit Insurance Corporation said the number of
institutions on its "Problem List" rose to 829 at June 30, 2010
from 775 at March 31, 2010. However, the total assets of "problem"
institutions declined from $431 billion to $403 billion.  Also,
while the number of "problem" institutions is the highest since
March 31, 1993, when there were 928, it is the smallest net
increase since the first quarter of 2009.

The FDIC said 45 insured institutions failed during the second
quarter.

On Tuesday, the FDIC said commercial banks and savings
institutions insured by the agency reported an aggregate profit of
$21.6 billion in the second quarter of 2010, a $26 billion
improvement from the $4.4 billion net loss the industry posted in
the second quarter of 2009.

The Deposit Insurance Fund balance improved for the second quarter
in a row.  The DIF balance -- the net worth of the fund --
improved from negative $20.7 billion to negative $15.2 billion
during the second quarter. The improvement stemmed primarily from
assessment revenues and from a reduction in the contingent loss
reserve, which covers the costs of expected failures. The reserve
declined from $40.7 billion to $27.5 billion during the quarter.

The FDIC's liquid resources -- cash and marketable securities --
remained strong. Liquid resources stood at $44 billion at the end
of the second quarter, a decline from $63 billion at the end of
the first quarter. The decline in cash balances reflects
previously anticipated outlays, primarily related to three bank
failures in Puerto Rico on April 30th.

"As we expected," Chairman Bair said, "demands on cash have
increased this year. But our projections indicate that our current
resources are more than enough to resolve anticipated failures."

Total insured deposits declined by 0.7% ($39 billion) during the
quarter.

             Problem Institutions      Failed Institutions
             --------------------      -------------------
Year           Number  Assets (Mil)      Number  Assets (Mil)
----           ------  ------------      ------  ------------
2009              702      $402,800         140       $169,700
2008              252      $159,405          25       $371,945
2007               76       $22,189           3         $2,615
2006               50        $8,265           0             $0
2005               52        $6,607           0             $0
2004               80       $28,250           4           $170

A copy of the FDIC's Quarterly Banking Profile for the quarter
ended March 31, 2010, is available for free at:

    http://bankrupt.com/misc/FDIC_QBP_Q1_10.pdf


* S&P's List of Year's Global Corporate Defaults Now at 74
----------------------------------------------------------
U.S.-based asset manager Marsico Parent Co. LLC completed its
previously announced debt restructuring this week.  According to
its criteria, S&P believes this constitutes a distressed exchange,
so S&P revised its rating on Marsico to 'SD', which indicates
selective default.  This raises the year-to-date 2010 global
corporate default tally to 74, said an article published November
12 by Standard & Poor's, titled "Global Corporate Default Update
(Nov. 5 - 11, 2010) (Premium)."

By region, the current year-to-date default tallies are 51 in the
U.S., three in Europe, nine in the emerging markets, and 11 in the
other developed region (Australia, Canada, Japan, and New
Zealand).  "So far this year, missed interest or principal
payments are responsible for 27 defaults and Chapter 11 and
foreign bankruptcy filings account for 22," said Diane Vazza, head
of Standard & Poor's Global Fixed Income Research.  "In addition,
distressed exchanges account for 20 defaults, receiverships are
responsible for three, and regulatory directives and
administration account for one default each."

S&P expects that the default rate will continue to decline next
year.  The baseline projection for the U.S. corporate speculative-
grade default rate in the 12 months ending in September 2011 is
2.4% (35 defaults).  S&P believes that this likely will be close
to the trough for this cycle.  S&P's alternative forecasts are
2.0% (29 defaults) at the optimistic end and 4.5% (66 defaults) at
the pessimistic end.  S&P's pessimistic scenario is the same as
the long-term (1981 to 2009) average default rate and is a slight
increase from the current level.

S&P based its forecasts on quantitative and qualitative factors
that it considers, including, but not limited to, Standard &
Poor's proprietary default model for the U.S. corporate
speculative-grade bond market.  S&P updates its outlook for the
U.S. issuer-based corporate speculative-grade default rate each
quarter after analyzing the latest economic data and expectations.


* BOND PRICING -- For Week From November 8 to 12, 2010
------------------------------------------------------

  Company           Coupon      Maturity Bid Price
  -------           ------      -------- ---------
155 E TROPICANA       8.750%     4/1/2012    22.000
ABITIBI-CONS FIN      7.875%     8/1/2009    20.500
ADVANTA CAP TR        8.990%   12/17/2026    12.000
AFFINITY GROUP       10.875%    2/15/2012    49.500
AMBAC INC             6.150%     2/7/2087     1.000
AMBAC INC             9.375%     8/1/2011    21.500
AMBASSADORS INTL      3.750%    4/15/2027    26.250
AMER GENL FIN         5.000%   11/15/2010    99.000
ANTIGENICS            5.250%     2/1/2025    41.000
APA-CALL12/10         8.000%    5/15/2017   111.500
BALLY TOTAL FITN     14.000%    10/1/2013     1.000
BANK NEW ENGLAND      8.750%     4/1/1999     9.875
BANK NEW ENGLAND      9.875%    9/15/1999     9.000
BANKUNITED FINL       6.370%    5/17/2012     5.000
BLOCKBUSTER INC       9.000%     9/1/2012     1.050
BOWATER INC           6.500%    6/15/2013    32.500
BOWATER INC           9.500%   10/15/2012    34.350
C&D TECHNOLOGIES      5.500%   11/15/2026    73.000
CAPMARK FINL GRP      5.875%    5/10/2012    35.500
CELL GENESYS INC      3.125%     5/1/2013    35.000
CHAMPION ENTERPR      2.750%    11/1/2037     1.323
CHENIERE ENERGY       2.250%     8/1/2012    53.000
DUNE ENERGY INC      10.500%     6/1/2012    70.500
DVA-CALL11/10         7.250%    3/15/2015   103.725
EDDIE BAUER HLDG      5.250%     4/1/2014     5.000
ELEC DATA SYSTEM      3.875%    7/15/2023    96.000
EVERGREEN SOLAR       4.000%    7/15/2013    46.750
FAIRPOINT COMMUN     13.125%     4/1/2018     7.125
FAIRPOINT COMMUN     13.125%     4/2/2018     7.750
FEDDERS NORTH AM      9.875%     3/1/2014     0.400
FRANKLIN BANK         4.000%     5/1/2027     1.125
FREEPORT-MC C&G       7.000%    2/11/2011    31.700
GENERAL MOTORS        7.125%    7/15/2013    33.750
GENERAL MOTORS        9.450%    11/1/2011    31.500
GREAT ATLA & PAC      5.125%    6/15/2011    83.750
GREAT ATLA & PAC      6.750%   12/15/2012    63.173
INDALEX HOLD         11.500%     2/1/2014     0.750
KEYSTONE AUTO OP      9.750%    11/1/2013    44.500
LEHMAN BROS HLDG      4.500%     8/3/2011    20.500
LEHMAN BROS HLDG      4.700%     3/6/2013    20.250
LEHMAN BROS HLDG      4.800%    2/27/2013    19.500
LEHMAN BROS HLDG      4.800%    3/13/2014    19.717
LEHMAN BROS HLDG      5.000%    1/22/2013    20.625
LEHMAN BROS HLDG      5.000%    2/11/2013    20.750
LEHMAN BROS HLDG      5.000%    3/27/2013    20.500
LEHMAN BROS HLDG      5.000%     8/3/2014    20.625
LEHMAN BROS HLDG      5.000%     8/5/2015    20.000
LEHMAN BROS HLDG      5.100%    1/28/2013    20.625
LEHMAN BROS HLDG      5.150%     2/4/2015    20.750
LEHMAN BROS HLDG      5.250%     2/6/2012    20.510
LEHMAN BROS HLDG      5.250%    1/30/2014    19.625
LEHMAN BROS HLDG      5.250%    2/11/2015    20.750
LEHMAN BROS HLDG      5.250%     3/5/2018    18.300
LEHMAN BROS HLDG      5.500%     4/4/2016    21.000
LEHMAN BROS HLDG      5.625%    1/24/2013    21.770
LEHMAN BROS HLDG      5.700%    1/28/2018    19.950
LEHMAN BROS HLDG      5.750%    4/25/2011    20.500
LEHMAN BROS HLDG      5.750%    7/18/2011    21.000
LEHMAN BROS HLDG      5.750%    5/17/2013    21.050
LEHMAN BROS HLDG      5.750%     1/3/2017     0.050
LEHMAN BROS HLDG      5.875%   11/15/2017    19.428
LEHMAN BROS HLDG      6.000%    7/19/2012    21.750
LEHMAN BROS HLDG      6.000%    6/26/2015    20.625
LEHMAN BROS HLDG      6.000%   12/18/2015    20.750
LEHMAN BROS HLDG      6.000%    2/12/2018    19.325
LEHMAN BROS HLDG      6.200%    9/26/2014    21.250
LEHMAN BROS HLDG      6.625%    1/18/2012    21.750
LEHMAN BROS HLDG      7.000%    4/16/2019    19.500
LEHMAN BROS HLDG      7.875%    11/1/2009    20.250
LEHMAN BROS HLDG      7.875%    8/15/2010    20.250
LEHMAN BROS HLDG      8.000%    3/17/2023    20.625
LEHMAN BROS HLDG      8.050%    1/15/2019    20.125
LEHMAN BROS HLDG      8.400%    2/22/2023    19.250
LEHMAN BROS HLDG      8.500%     8/1/2015    20.000
LEHMAN BROS HLDG      8.500%    6/15/2022    20.750
LEHMAN BROS HLDG      8.800%     3/1/2015    20.750
LEHMAN BROS HLDG      8.920%    2/16/2017    19.000
LEHMAN BROS HLDG      9.000%   12/28/2022    20.500
LEHMAN BROS HLDG      9.000%     3/7/2023    19.510
LEHMAN BROS HLDG      9.500%   12/28/2022    19.000
LEHMAN BROS HLDG      9.500%    1/30/2023    18.750
LEHMAN BROS HLDG      9.500%    2/27/2023    20.000
LEHMAN BROS HLDG     10.000%    3/13/2023    20.750
LEHMAN BROS HLDG     10.375%    5/24/2024    20.500
LEHMAN BROS HLDG     11.000%    6/22/2022    20.500
LEHMAN BROS HLDG     11.000%    7/18/2022    20.500
LEHMAN BROS HLDG     11.000%    3/17/2028    19.625
LEHMAN BROS HLDG     11.500%    9/26/2022    19.750
LEHMAN BROS INC       7.500%     8/1/2026    11.000
LOCAL INSIGHT        11.000%    12/1/2017    26.000
MAGNA ENTERTAINM      7.250%   12/15/2009     6.000
MASSEY ENERGY CO      2.250%     4/1/2024    87.875
MERRILL LYNCH         1.720%     3/9/2011    98.500
NEWPAGE CORP         10.000%     5/1/2012    58.601
NEWPAGE CORP         12.000%     5/1/2013    34.055
PALM HARBOR           3.250%    5/15/2024    55.750
RAFAELLA APPAREL     11.250%    6/15/2011    74.438
RASER TECH INC        8.000%     4/1/2013    36.250
RESTAURANT CO        10.000%    10/1/2013    31.000
RESTAURANT CO        10.000%    10/1/2013    30.875
SBARRO INC           10.375%     2/1/2015    51.100
SPHERIS INC          11.000%   12/15/2012     3.000
THORNBURG MTG         8.000%    5/15/2013     2.500
TIMES MIRROR CO       7.250%     3/1/2013    48.000
TOM'S FOODS INC      10.500%    11/1/2004     1.704
TOREADOR RESOURC      5.000%    10/1/2025    85.140
TRANS-LUX CORP        8.250%     3/1/2012     7.000
TRICO MARINE          3.000%    1/15/2027     4.000
TRICO MARINE SER      8.125%     2/1/2013    11.250
UIS-CALL12/10         8.500%   10/15/2015   104.250
VIRGIN RIVER CAS      9.000%    1/15/2012    45.500
WASH MUT BANK FA      5.650%    8/15/2014     0.350
WCI COMMUNITIES       7.875%    10/1/2013     0.250
WOLVERINE TUBE       15.000%    3/31/2012    32.000



                           *********

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 ***