TCR_Public/101124.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Wednesday, November 24, 2010, Vol. 14, No. 326

                            Headlines

135TH ST.: Case Summary & 8 Largest Unsecured Creditors
556 HOLDING: Judge OKs $19.35 Million Sale of Museum Building
A CORDERO BADILLO: Section 341(a) Meeting Scheduled for Dec. 20
AE BIOFUELS: Delays Filing of Form 10-Q for Third Quarter
ALBERT VASQUEZ: Case Summary & 20 Largest Unsecured Creditors

A.L.F. - ARDMORE: Case Summary & Unsecured Creditor
AMACORE GROUP: Delays Filing of Third Quarter Form 10-Q
AMBAC FIN'L: AAC Reviews RMBS Transactions for Potential Breaches
AMBAC FIN'L: Proposes Stipulation With BoNY Mellon
AMBAC FIN'L: U.S. Trustee Forms 5-Member Creditors Committee

AMERICA'S SUPPLIERS: DollarDays CEO Gets New Two-Year Contract
AMERICAN AXLE: 3-Year Business Backlog Up 20% to $850-Mil.
AMERICAN INT'L: Said to Be Reviving Sale of Nan Shan Unit
AMERICAN MEDIA: Intends to Pay Prepetition Trade Creditors Claims
AMERICAN MEDIA: Proposes to File Fee Letters Under Seal

AMERICAN MEDIA: To Honor Prepetition Obligations to Customers
AMERICAN MEDIA: To Pay Prepetition Taxes & Fees
AMERICAN MEDIA: Wants to Pay Shippers & Warehousemen Claims
AMF BOWLING: Moody's Junks Corporate Family Rating From 'B3'
ANTS SOFTWARE: Earns $88,100 in September 30 Quarter

ARVINMERITOR INC: Earns $2 Million in September 30 Quarter
ASARCO LLC: Fifth Circuit Dismisses Appeal on Confirmation Order
ASARCO LLC: Files Post-Confirmation Report for Third Quarter
ASARCO LLC: Plan Admin. Wants Until Jan. 21 for Claims Objections
ASARCO LLC: Settles EPA's Blue Ledge Claim for $2.4 Million

ASIAN ART: Working with Lender to Fix Woes; Taps Bankruptcy Atty.
BANK OF GRANITE: Posts $4.3 Million Net Loss in Q3 2010
BERNARD MADOFF: Former Aide to Remain in Federal Custody
BLACK CROW: GECC Wants to File Competing Plan
BLUE DOLPHIN: Posts $69,100 Net Loss in September 30 Quarter

BON-TON STORES: Fitch Affirms Issuer Default Rating at 'B-'
BOS SUPPLY.: Closes Down; Files Chapter 7 Petition
BOSTON GENERATING: Wants Plan Exclusivity Until March
BUFFALO INN: Case Summary & 20 Largest Unsecured Creditors
BURGENER-CLARK, LLC: Case Summary & 19 Largest Unsecured Creditors

CAMBIUM LEARNING: Moody's Assigns 'B2' Corporate Family Rating
CARA OPERATIONS: DBRS Assigns Issuer Rating of 'B'
CARLO D'ALELIO: Case Summary & 20 Largest Unsecured Creditors
CB HOLDING: Organizational Meeting to Form Panel on Nov. 30
CB SETTLE INN: Owner Intends to Keep the Hotels in Business

CELL THERAPEUTICS: In Talks with 2 Funds for $150MM Investment
CENTRAL WAYNE ENERGY: Dispute on $11.2MM COSI Claim Continues
CHANCELLOR'S PARK: Case Summary & 7 Largest Unsecured Creditors
CHARDON RUBBER: PBGC Assumes Underfunded Pension Plan
CHINATEL GROUP: Has Deal for Control of 34,000-KM Cable in China

CHIP IN: Case Summary & 4 Largest Unsecured Creditors
CKPS INTERNATIONAL: Case Summary & 20 Largest Unsecured Creditors
CLEAR CHANNEL: Fitch Assigns 'CCC' Issuer Default Rating
CNOSSEN DAIRY: Taps J. Bennett as Bankruptcy Counsel
CNOSSEN DAIRY: Wants Filing of Schedules Extended Until Dec. 6

CNOSSEN DAIRY: Wants to Hire Templeton Smithee as Local Counsel
CONSPIRACY ENTERTAINMENT: Delays Filing of Form 10-Q for Q3
CPG INT'L: Moody's Gives Positive Outlook; Keeps Caa1 Note Ratings
CU PHAN: Case Summary & 20 Largest Unsecured Creditors
CURLEE DENNIS: N.D. Calif. Court Dismisses Chapter 11 Case

DEL MONTE: S&P Puts 'BB' Corp. Rating on CreditWatch Negative
DENNY HECKER: Trustee Wants to Compel Turnover of Motorcycles
DPAC TECHNOLOGIES: Posts $219,300 Net Loss in September 30 Quarter
DTC TALLEVAST: Case Summary & 7 Largest Unsecured Creditors
DYNEGY INC: Mulls Options After Shareholders Thumbed Down Merger

DYNEGY INC: Adopts Stockholder Protection Rights Plan
ECHO THERAPEUTICS: Net Loss Down to $582,840 in Q3 2010
ECOSPHERE TECHNOLOGIES: Delays Form 10-Q for Third Quarter
ECOSPHERE TECHNOLOGIES: Thomas Wolfe Resigns as Director
EDWARD WALTER: Voluntary Chapter 11 Case Summary

ELEPHANT TALK: Incurs $25 Mil. Net Loss in Third Quarter
ENERJEX RESOURCES: Incurs $954,105 Net Loss in Sept. 30 Quarter
ESTES HOLDING: Case Summary & 3 Largest Unsecured Creditors
EXIDE TECHNOLOGIES: Objects to Chloride Group, LIGA Claims
EXIDE TECHNOLOGIES: Seeks Dismissal of Suit vs. EnerSys

EXIDE TECHNOLOGIES: Wants Until Jan. 31 to Object to Claims
FANNIE MAE: CFO David Johns Will Resign by Year's End
FIRST NATIONAL: Mulling Wind-Down; Insolvent After Bank Closed
FLINT TELECOM: Posts $2.09 Million Net Loss in Third Quarter
FLORIDA GAMING: Posts $2 Million Net Loss in Q3 2010

FORMTECH INDUSTRIES: Magna Loses Setoff & Recoupment Argument
FRANKLIN CREDIT: Posts $20.3 Million Net Loss in Q3 2010
FRED LEIGHTON: Former Owner Arrested; Faces Fraud Charges
GENERAL GROWTH: Has Deal Estimating Seaport Plaintiffs Claims
GENERAL GROWTH: Proposes to Release Professional Fee Holdbacks

GENERAL MOTORS: Saudi Prince Buys 1% Stake for $500 Million
GENERAL MOTORS: APS Also Providing Services to GM Europe
GENERAL MOTORS: LFR Can Hire Outside Consultants
GENERAL MOTORS: Ramp Chevrolet Says Motion vs. New GM Warranted
GLOBAL CROSSING: Completes $150MM Private Offering of Sr. Notes

GOLDEN EAGLE: Delays Filing of Quarterly Report on Form 10-Q
GREATER SALEM: Files for Chapter 11 After Properties Auctioned Off
GREATER SALEM: Case Summary & 10 Largest Unsecured Creditors
GREENWICH SENTRY: Aims to File Ch. 11 Plan to Settle Suits
GREENWICH SENTRY: Voluntary Chapter 11 Case Summary

GUANGZHOU GLOBAL: Earns $198,807 in September 30 Quarter
GULF STATES: LAD/Northlake Claims Disallowed as Untimely
HANMI FINANCIAL: Gets Waiver from Woori on Securities Deal
HARVEY RUSSELL: Voluntary Chapter 11 Case Summary
HEALTHSPORT INC: Posts $914,300 Net Loss in September 30 Quarter

HOLY TEMPLE: Case Summary & 3 Largest Unsecured Creditors
HONOLULU SYMPHONY: Mulling Conversion to Ch. 7 Liquidation
HYTHIAM INC: Incurs $1.94 Million Net Loss in Sept. 30 Quarter
IAP WORLDWIDE: S&P Raises Corporate Credit Rating to 'B'
IKECHUKWU IBEANUSI: Case Summary & 15 Largest Unsecured Creditors

IMEDICOR INC: Incurs $1.61 Million Net Loss in Sept. 30 Quarter
IMPLANT SCIENCES: Delays Filing of Form 10-Q for Sept. 30 Qtr.
INCREDIBLE PETS: Case Summary & 20 Largest Unsecured Creditors
INOVA TECHNOLOGY: Starts Work on $350,000 Projects
JOHN BARTUCCI: Case Summary & 6 Largest Unsecured Creditors

JORGE MARTINEZ: Case Summary & 18 Largest Unsecured Creditors
JOSE BARRIONUEVO: Case Summary & 20 Largest Unsecured Creditors
JUMBOLAIR INC: Taylor Bean Court Approves Sale of Mortgage Loan
LACK'S STORES: Court Extends Filing of Schedules Until Jan. 1
LACK'S STORES: Has Access to Cash Collateral Until February

LACK'S STORES: Gets Permission to Conduct Store Closing Sales
LISA CHASE: Case Summary & 18 Largest Unsecured Creditors
LOCAL INSIGHT: Organizational Meeting to Form Panel on Dec. 1
MARINA BIOTECH: Files 10-Q; Posts $8.3 Million Net Loss in Q3 2010
MASSEY ENERGY: Board Reviews Options, Hires Advisors

MCNAIR GRADING: Case Summary & 20 Largest Unsecured Creditors
MECHANICAL TECHNOLOGY: Posts $902,000 Net Loss in Q3 2010
METROPOLITAN 885: Files Schedules of Assets & Liabilities
MGIC INVESTMENT: S&P Raises Ratings on Preferred Debt to 'CC'
MGL CONSULTING: Case Summary & 21 Largest Unsecured Creditors

MICHAEL YOUNESSI: Case Summary & 16 Largest Unsecured Creditors
MIG INC: Wins Confirmation of Full-Payment Plan After Deal
MILLENNIUM SOUTHEAST: Vancouver Takes Control of Olympic Village
MOMENTIVE PERFORMANCE: Has $159.9MM Add'l Commitment from Lender
MORTGAGEBROKERS.COM: Posts $28,368 Net Loss for September 30 Qtr.

MPG OFFICE: Names David Weinstein as New CEO
MYRA PLANT: Case Summary & 17 Largest Unsecured Creditors
NAZARIO PERLAS: Case Summary & 18 Largest Unsecured Creditors
NEW CLINTON: Voluntary Chapter 11 Case Summary
NEW ORIENTAL: Delays Form 10-Q for Third Quarter

NEW VISION: S&P Assigns 'B' Preliminary Corporate Credit Rating
NORTEL NETWORKS: GENBAND Wants Arbitration for Sale Price Dispute
NOVELOS THERAPEUTICS: Incurs $1.22 Mil. Net Loss in Sept. 30 Qtr.
NUTRACEA: Wants to Sell 49% of Interest for $7.72 Million
NUVEEN INVESTMENTS: Swings to $59 Million Profit in Q3 2010
NXT NUTRITIONALS: Incurs $9 Million Net Loss in Sept. 30 Quarter

OHIO VALLEY AMUSEMENT: Puts Former Owner in Chapter 7 Bankruptcy
OMNIRELIANT HOLDINGS: Delays Filing Form 10-Q for Sept. 30 Qtr.
ONE MADISON: Plan to Infuse $40MM Capital, Finish Project Filed
PACIFIC AVENUE: Bankruptcy Judge Approves Sale of EpiCentre's Debt
PACIFIC ENERGY: Pitches $2.9 Mil. Settlement Over Platform Deal

PACIFIC ETHANOL: Posts $12.1 Million Net Loss in Q3 2010
PARMALAT SPA: Documents Won't Be Unsealed Until 2011
PARMALAT SPA: Prosecutors Want Tanzi Arrested, Demand 20 Years
PFF BANCORP: Settles $44-Mil. Federal Tax Refund
PHOENIX DEVELOPMENT: Voluntary Chapter 11 Case Summary

POINT BLANK: Board Observer Reports to Committees
PURADYN FILTER: September 30 Balance Sheet Upside-Down by $6MM
PURESPECTRUM INC: Delays Filing of Form 10-Q for Sept. 30 Qtr.
QUALITY MAINTENANCE: Case Summary & 18 Largest Unsecured Creditors
QUANTUM CORP: Prices $125 Million Conv. Senior Subordinate Notes

RADIENT PHARMACEUTICALS: To Report Hike in Net Loss for Jan.-Sept.
RCLC INC: Delays Filing of Form 10-Q for Sept. 30 Quarter
REFCO INC: Court Approves Whittelsey Settlement
REFCO INC: IRS Directed by Bankr. Court to Produce Documents
REFCO INC: LLC Trustee Proposes to Subordinate Late Claims

REGIONS FINANCIAL: Moody's Corrects Press Release on Ratings
RELIANCE INTERMEDIATE: DBRS Confirms Senior Notes at BB (High)
RICK SALVINO: Case Summary & 6 Largest Unsecured Creditors
ROBERT LECKIE: Case Summary & 20 Largest Unsecured Creditors
ROBERT WALSH: Case Summary & 8 Largest Unsecured Creditors

SAINT VINCENTS: To Sell Off Remaining Assets Next Month
SB PARTNERS: Lowers Net Loss to $179,285 in Q3 2010
SEMGROUP LP: Court Approves Accord in Commodities Trading Suit
SEP RIVERPARK: Files Schedules of Assets & Liabilities
SEP RIVERPARK: Section 341(a) Meeting Scheduled for Dec. 6

SIERRA STAINLESS: Case Summary & 20 Largest Unsecured Creditors
SIONITA ANGELES: Case Summary & 20 Largest Unsecured Creditors
SIX FLAGS: Del. Bankr. Ct. Dismiss Suit vs. Parc
SOMERSET INTERNATIONAL: Posts $318,500 Net Loss in Q3 2010
STAINLESS STEEL: Case Summary & 20 Largest Unsecured Creditors

SUZETTE WASHINGTON: Case Summary & 9 Largest Unsecured Creditors
TAMARACK RESORT: Has $40MM Offer; Homeowners to Operate Resort
TAYLOR BEAN: Court Approves Sale of Jumbolair Mortgage Loan
TAYLOR BEAN: Wants Plan Exclusivity Extended Until April
TAYLOR BEAN: Proposes Settlement Resolving Trust Claims

TBS INT'L: Lenders Extend Forbearance Until Dec. 29
TEMPUS RESORTS: Section 341(a) Meeting Scheduled for Dec. 20
TERRESTAR NETWORKS: Can Honor Prepetition Insurance Policies
TERRESTAR NETWORKS: Proposes to Reject 6 Motient Property Leases
TERRESTAR NETWORKS: Proposes to Reject Telx Group Contracts

TEXAS RANGERS: Judge Lynn Castigated Lawyers, Transcript Shows
TIMOTHY RICE: Case Summary & 20 Largest Unsecured Creditors
TIREX CORPORATION: SEC Grants Firm Waiver of Re-Audit
TRANSFIELD ER: Chapter 15 Case Summary
TRONOX INC: Court OKs Partnership & Stockholder Interests Transfer

TWIN CITY LOFTS: Section 341(a) Meeting Scheduled for Dec. 20
VAN DYKE: Case Summary & 9 Largest Unsecured Creditors
VERTIS HOLDINGS: Taps Kurtzman Carson as Noticing & Claims Agent
VERTIS HOLDINGS: Wants Deadline for Filing of Schedules Extended
VERTIS HOLDINGS: Taps FTI Consulting as Financial Advisor

VERTIS HOLDINGS: Wants Perella Weinberg as Investment Banker
VHGI HOLDINGS: Posts $92,100 Net Loss in September 30 Quarter
VICTOR TIBALDEO: Case Summary & 18 Largest Unsecured Creditors
VILLA DE SANTA: Case Summary & 17 Largest Unsecured Creditors
VITRO SAB: Extends Tender Offer Until December 7

WASHINGTON LOOP: Case Summary & 20 Largest Unsecured Creditors
WASHINGTON MUTUAL: Noteholders Lodge Contingent Objection to Plan
WEGENER CORPORATION: Recurring Losses Cue Going Concern Doubt
WIRELESS AGE: Settles Debt; Nears Completion of Restructuring
WISE METALS: Deposits $158-Mil. in Trust with BoNY Mellon

WOUND MANAGEMENT: Posts $1.7 Million Net Loss in Q3 2010

* 860 Banks Now in FDIC's Problem List; Highest Since 1993
* Ex-Oppenheimer Analyst Says U.S. Banks to Close 5,000 Branches

* Trading of U.S. Bankruptcy Claims Slumps in October

* Several Charged in Canada for Bankruptcy Fraud

* Thompson Hine Restructuring Group Taps John Isbell

* Upcoming Meetings, Conferences and Seminars

                            *********

135TH ST.: Case Summary & 8 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: 135th St. Property, LLC
        c/o Tiffany and O'Shea, LLC
        11124 NE Halsey #685
        Portland, OR 97220

Bankruptcy Case No.: 10-41036

Chapter 11 Petition Date: November 19, 2010

Court: United States Bankruptcy Court
       District of Oregon

Judge: Randall L. Dunn

Debtor's Counsel: Robert J. Vanden Bos, Esq.
                  VANDEN BOS & CHAPMAN, LLP
                  319 SW Washington #520
                  Portland, OR 97204
                  Tel: (503) 241-4869
                  E-mail: vbcservice@yahoo.com

Scheduled Assets: $2,858,140

Scheduled Debts: $2,436,857

A list of the Company's eight largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/orb10-41036.pdf

The petition was signed by Michael O'Shea, representative.


556 HOLDING: Judge OKs $19.35 Million Sale of Museum Building
-------------------------------------------------------------
A bankruptcy judge approved the sale of the building that houses
the Chelsea Art Museum in a deal that resolves a dispute with its
lender over the right to sell the property, Dow Jones' Small Cap
reports.

According to the report, Judge Allan L. Gropper of the U.S.
Bankruptcy Court in Manhattan on Friday approved New York real-
estate developer Albanese Development Corp.'s $19.35 million offer
for the property, court papers show.

The report relates that Lender Hudson Realty Capital, which had
previously fought for the right to sell the property on West 22nd
Street after taking over the deed to the building, consented to
the sale.  It's slated to receive $13.05 million of the sale
proceeds to cover the principal, interest, fees and other expenses
it's owed on the loan, the report notes.

In a separate order signed by Judge Gropper, the report discloses,
Hudson Realty Capital also agreed to the invalidation of its
taking over the deed.

The sale allows the building's current tenants, including the
museum and its founder Dorothea Keeser, to remain tenants through
2011, the report adds.

                        About 556 Holding

556 Holding LLC is the entity that owns the building that houses
the Chelsea Art Museum.  The building was built in 1850 and
located in the Chelsea neighborhood on the west side of
Manhattan.  The building is worth $20 million, says 556 Holding.

New York-based 556 Holding LLC filed for Chapter 11 bankruptcy
protection on August 6, 2010 (Bankr. S.D.N.Y. Case No. 10-14267).
Richard Engman, Esq., at Jones Day, assists the Debtor in its
restructuring effort.  The Debtor estimated its assets and debts
at $10 million to $50 million.

An affiliate, KDMJ Realty, Inc., filed a separate Chapter 11
petition on August 6, 2010 (Bankr. S.D.N.Y. Case No. 10-14268).


A CORDERO BADILLO: Section 341(a) Meeting Scheduled for Dec. 20
---------------------------------------------------------------
The U.S. Trustee for Region 21 will convene a meeting of A Cordero
Badillo Inc.'s creditors on December 20, 2010, at 2:00 p.m.  The
meeting will be held at the Ochoa Building, 500 Tanca Street,
First Floor, San Juan, PR 00901.

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

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

Catano, Puerto Rico-based A. Cordero Badillo, Inc., aka
Supermercados Grande, filed for Chapter 11 bankruptcy protection
on November 12, 2010 (Bankr. D. P.R. Case No. 10-10705).  Charles
Alfred Cuprill, Esq., at Charles A Curpill, PSC Law Office,
assists the Debtor in its restructuring effort.  The Debtor
estimated its assets and debts at $10 million to $50 million.


AE BIOFUELS: Delays Filing of Form 10-Q for Third Quarter
---------------------------------------------------------
AE Biofuels 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 the Company's
management has not completed their review of the Company's
financial statements.

AE Biofuels reported a net loss $2.23 million on $1.81 million of
sales for the three months ended June 30, 2010, compared with a
net loss of $2.46 million on $994,462 of sales for the same period
a year earlier.

The Company's balance sheet at June 30, 2010, showed
$18.99 million in total assets, $21.23 million in total current
liabilities, $5.26 million in long-term debt, and a stockholders'
deficit of $7.49 million.

                         About AE Biofuels

Cupertino, Calif.-based AE Biofuels, Inc. (OTC BB: AEBF)
-- http://www.aebiofuels.com/-- develops, acquires, constructs,
and operates "next-generation" fuel grade ethanol and biodiesel
facilities.  The Company currently operates a biodiesel
manufacturing facility with a nameplate capacity of 55 million
gallons per year (MGY) in Kakinada, India and has a next-
generation integrated cellulose and starch ethanol demonstration
facility in Butte, Montana.


ALBERT VASQUEZ: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Joint Debtors: Albert Martin Vasquez
               dba El Saguarito Mexican Food
               Blanca Julia Vasquez
               6020 N. Swan Road
               Tucson, AZ 85718

Bankruptcy Case No.: 10-37292

Chapter 11 Petition Date: November 18, 2010

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

Judge: Eileen W. Hollowell

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

Scheduled Assets: $495,624

Scheduled Debts: $1,119,712

A list of the Joint Debtors' 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/azb10-37292.pdf


A.L.F. - ARDMORE: Case Summary & Unsecured Creditor
---------------------------------------------------
Debtor: A.L.F. - Ardmore, LLC
        fka Heartland Plaza Of Ardmore, LLC
        P.O. Box 7793
        Edmond, OK 73013

Bankruptcy Case No.: 10-17017

Chapter 11 Petition Date: November 21, 2010

Court: United States Bankruptcy Court
       Western District of Oklahoma (Oklahoma City)

Debtor's Counsel: L. David McBride, Esq.
                  MCBRIDE & ASSOCIATES, P.C.
                  3035 Northwest 63rd Street, Suite 229
                  Oklahoma City, OK 73116
                  Tel: (405) 842-7626
                  E-mail: ldmsr@okwills.com

Scheduled Assets: $3,406,050

Scheduled Debts: $1,881,533

In its list of 20 largest unsecured creditors, the Company placed
only one entry:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Carter County Treasurer   Trade debt             $46,000
20 B. Street SW #104
Ardmore, OK 73401

The petition was signed by Kane Sherman, member.


AMACORE GROUP: Delays Filing of Third Quarter Form 10-Q
-------------------------------------------------------
The Amacore Group Inc. said it could not timely file its quarterly
report on Form 10-Q for the period ended Sept. 30, 2010 because it
is unable to provide a reasonable estimate of revenues, operating
expenses, other income or net loss for the three and nine months
ended September 30, 2010, as the Company is in process of closing
its books and records for the applicable periods and assessing the
historical accounting treatment of its indefinite-lived intangible
assets and preferred stock and common stock warrants accounted for
as permanent equity.

The Troubled Company Reporter reported on Amacore Group's second
quarter results on August 20, 2010.  Amacore incurred a $5,229,222
net loss for the three months ended June 30, 2010, from a $905,276
net loss for the same period in 2009.  The Company recorded total
revenue of $4,305,000 for the three months ended June 30, 2010.

The Company's balance sheet at June 30, 2010, showed $8,595,986 in
total assets, $25,985,443 in total liabilities and a $17,147,252
stockholders' deficit.

                    About The Amacore Group

Based in Maitland, Florida, The Amacore Group, Inc., (OTC BB:
ACGI) -- http://www.amacoregroup.com/-- is primarily a provider
and marketer of healthcare related products, including healthcare
benefits, vision and dental networks, and administrative services
such as billing, fulfillment, patient advocacy, claims
administration and servicing.

                         *     *     *

In its March 31, 2010 report, McGladrey & Pullen, LLP in Orlando,
Florida, raised substantial doubt about the Company's ability to
continue as a going concern.  The auditor said the Company has
suffered recurring losses from operations and has not generated
sufficient cash flows from operations to meet its needs.


AMBAC FIN'L: AAC Reviews RMBS Transactions for Potential Breaches
-----------------------------------------------------------------
Ambac Assurance Corporation is conducting a review of certain
residential mortgage-backed securities or RMBS that the
company insured to determine whether there were breaches of
representations and warranties made by the sponsors of those
securities at the time those securities were issued.

The RMBS review was disclosed in an Ambac Financial Group, Inc.'s
regulatory filing with the U.S. Securities and Exchange
Commission dated November 18, 2010.

AFG serves as the holding company of AAC.  AAC is the operating
unit of AFG, who has recently filed for protection under the U.S.
Bankruptcy Code.

AFG Managing Director, Corporate Secretary and Assistant General
Counsel Anne Gill Kelly relates that the review includes forensic
analyses of loan origination files and process and a re-
underwriting of loans to determine whether there were breaches of
representations and warranties made by the sponsors of those
securities at the time those securities were issued.

AAC believes, based on its review, that the sponsors of the
securities are obligated to pay sums, which may in certain cases
be material, to the issuers of some or all of the RMBS to AAC in
respect of those breaches of representations and warranties.  Ms.
Kelly says AAC has either sought repurchase or intends to seek
repurchase of certain loans.  AAC believes, based on its review
and internal calculations, that any recoveries will vary from
security to security.

AAC's review with respect to these RMBS is ongoing, and AAC may
expand its review from time to time:

  * First Franklin Mortgage Loan Asset-Backed Certificates,
    Series 2007-FFC

  * Nomura Asset Acceptance Corporation, Alternative Loan Trust,
    2007-1

  * Nomura Asset Acceptance Corporation, Alternative Loan Trust,
    2007-3

  * Citigroup HELOC Trust 2006-NCB1

  * GMAC Home Equity Loan Trust 2005-HE3

  * Chevy Chase Funding LLC, Series 2007-1

  * Chevy Chase Funding LLC, Series 2007-2

  * Countrywide Asset-Backed Certificates, Series 2005-16

  * Countrywide Asset-Backed Certificates, Series 2005-17

  * Countrywide Asset-Backed Certificates, Series 2006-11

  * Countrywide Asset-Backed Certificates, Series 2006-13

  * Option One Mortgage Loan Trust 2007-FXD1

AAC has also initiated litigation with respect to these RMBS:

  * SACO I Trust 2005-10 Mortgage-Backed Certificates, Series
    2005-10

  * SACO I Trust 2006-2 Mortgage-Backed Certificates, Series
    2006-2

  * SACO I Trust 2006-8 Mortgage-Backed Notes, Series 2006-8

  * Bear Stearns Second Lien Trust 2007-1, Mortgage-Backed
    Notes, Series 2007-1

  * Countrywide Revolving Home Equity Loan Asset Backed Notes,
    Series 2004-K

  * Countrywide Revolving Home Equity Loan Asset Backed Notes,
    Series 2004-L

  * Countrywide Revolving Home Equity Loan Asset Backed Notes,
    Series 2004-M

  * Countrywide Revolving Home Equity Loan Asset Backed Notes,
    Series 2004-N

  * Countrywide Revolving Home Equity Loan Asset Backed Notes,
    Series 2004-O

  * Countrywide Revolving Home Equity Loan Asset Backed Notes,
    Series 2004-T

  * Countrywide Revolving Home Equity Loan Asset Backed Notes,
    Series 2005-F

  * Countrywide Revolving Home Equity Loan Asset Backed Notes,
    Series 2006-B

  * Countrywide Revolving Home Equity Loan Asset Backed Notes,
    Series 2006-C

  * Countrywide Home Equity Loan Asset Backed Notes, Series
    2006-S1

  * Countrywide Home Equity Loan Asset Backed Notes, Series
    2006-S4

  * Countrywide Home Equity Loan Asset Backed Notes, Series
    2006-S6

  * Home Equity Mortgage Trust 2007-1

Ms. Kelly relates that the claims in those litigations include
claims against the sponsor for breaches of representations and
warranties among other claims.  There can be no assurance as to
the outcome of the review or those litigations, she says.

According to AFG's quarterly report on Form 10-Q for the quarter
ended September 30, 2010, the company has estimated subrogation
recoveries of $2.395 billion as of September 30, 2010, an
increase from $2.036 billion as of December 31, 2009.  The amount
of estimated recovery is included in AFG's loss reserves.  The
recoveries are based principally on contractual claims arising
from RMBS transactions which AAC has insured and represent the
amount AFG will ultimately recover.

A related report by Tom Hals of Reuters relates that AAC's
actions signal the company's riding the growing momentum of
mortgage "putbacks" -- forcing banks to buy back mortgage
securities -- driven by Pacific Investment Management Co. and
other big investors.  According to Mr. Hals, those investors have
forged alliances to fight banks they claim shoveled faulty loans
into mortgaged bonds.

Mr. Hals relates that Federal Home Loan Mortgage Corp. or Freddie
Mac, and the Federal National Mortgage Association or Fannie Mae
declared in securities filings that they have been able to cut
their losses by billions of dollars with putbacks.  According to
JPMorgan Chase, the putbacks could cost the banking industry as
high as $90 billion, Mr. Hals notes.

"In cases where we determine a valid defect, Bank of America will
act responsibly.  In cases where we do not find a valid defect,
we will vigorously contest the claim and will defend our
interests and the interests of shareholders," Jerome Dubrowski of
Bank of America told Reuters.  Countrywide, a Bank of America
unit, issued some of the RMBS subject to review.

                        About Ambac Financial

Ambac Financial Group, Inc., headquartered in New York City, is a
holding company whose affiliates provided financial guarantees and
financial services to clients in both the public and private
sectors around the world.

Ambac Financial filed a voluntary petition for relief under
Chapter 11 of the U.S. Bankruptcy Code in Manhattan (Bankr.
S.D.N.Y. Case No. 10-15973) on November 8, 2010.  Ambac said it
will continue to operate in the ordinary course of business as
"debtor-in-possession" under the jurisdiction of the Bankruptcy
Court and in accordance with the applicable provisions of the
Bankruptcy Code and the orders of the Bankruptcy Court.

Ambac's bond insurance unit, Ambac Assurance Corp., did not file
for bankruptcy.  AAC is being restructured by state regulators in
Wisconsin.  AAC is domiciled in Wisconsin and regulated by the
Office of the Commissioner of Insurance of the State of Wisconsin.
The parent company is not regulated by the OCI.

Ambac's consolidated balance sheet -- which includes non-debtor
Ambac Assurance Corp -- showed $30.05 billion in total assets,
$31.47 billion in total liabilities, and a $1.42 billion
stockholders' deficit, at June 30, 2010.

On an unconsolidated basis, Ambac said in a court filing that
it has assets of ($394.5 million) and total liabilities of
$1.6826 billion as of June 30, 2010.

Bank of New York Mellon Corp., as trustee to seven different types
of notes, is listed as the largest unsecured creditor, with claims
totaling about $1.62 billion.

The Vanguard Group, Inc., holds 5.46% of the stock of Ambac and is
its largest shareholder.

Peter A. Ivanick, Esq., Allison H. Weiss, Esq., and Todd L.
Padnos, Esq., at Dewey & LeBoeuf LLP represent the Debtor.  The
Blackstone Group LP is the Debtor's financial advisor.  Kurtzman
Carson Consultants LLC is the claims and notice agent.

Bankruptcy Creditors' Service, Inc., publishes AMBAC BANKRUPTCY
NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by Ambac Financial Group Inc.
(http://bankrupt.com/newsstand/or 215/945-7000)


AMBAC FIN'L: Proposes Stipulation With BoNY Mellon
--------------------------------------------------
Ambac Financial Group, Inc., asks Judge Shelley C. Chapman of the
U.S. Bankruptcy Court for the Southern District of New York to
authorize its entry into a stipulation it negotiated with The
Bank of New York Mellon for the termination of certain purchase
contracts and a pledge of collateral.

The Debtor and BoNY Mellon are party to these agreements:

  (i) An Indenture, dated February 15, 2006, between the
      Debtor and BoNY Mellon, as trustee;

(ii) A Supplemental Indenture No. 1, dated March 12, 2008,
      between the Debtor and BoNY Mellon, as trustee;

(iii) A Pledge Agreement, dated March 12, 2008, between the
      Debtor, BoNY Mellon, as collateral agent, custodial agent,
      and securities intermediary, and BoNY Mellon, as purchase
      contract agent; and

(iv) A Purchase Contract Agreement, dated March 12, 2008,
      between the Debtor and BoNY Mellon, as purchase contract
      agent.

The Debtor issued $250,000,000 in aggregate principal amount of
9.50% senior notes due on February 15, 2021, pursuant to the
Indenture and Supplemental Indenture.  The Debtor also issued
5,000,000 Corporate Units pursuant to the Purchase Contract
Agreement.  Each Corporate Unit has a "stated amount" of $50 and
consists of:

  (A) a Purchase Contract, which obligates the holder to
      purchase, and obligates the Debtor to sell to that Holder,
      newly issued shares of the Debtor's common stock on
      May 17, 2011; and

  (B) a 5% interest in $1,000 in aggregate principal amount of
      the 9.50% Senior Notes, to be held by BoNY Mellon, as
      collateral agent, to secure Holders' obligations to
      purchase Common Stock pursuant to the Purchase Contracts
      -- the Pledge.

Each Corporate Unit Holder had the option to convert its
Corporate Units into Treasury Units by substituting the 9.50%
Senior Notes held by BoNY Mellon, as collateral agent, with zero-
coupon U.S. treasury securities of an equal amount.  Under
certain circumstances, Treasury Unit Holders could reconvert
their units into Corporate Units.  The Corporate and Treasury
Units are referred to collectively as the "Equity Units."

Pursuant to the Purchase Contract Agreement, the commencement
of the Debtor's bankruptcy case constitutes a "Termination
Event."  The Purchase Contract Agreement and the Pledge Agreement
provides that upon the occurrence of that Termination Event, both
Agreements terminate and BNYM is deemed authorized to release the
Collateral to Equity Unit Holders.  The Pledge Agreement further
provides that upon the occurrence of that Termination Event, BoNY
Mellon is required to resign as collateral agent.

On November 10, 2010, BoNY Mellon notified the Debtor that it
resigned as collateral agent, custodial agent, and securities
intermediary under the Pledge Agreement, effective upon the
appointment of a successor collateral agent, custodial agent, and
securities intermediary.

The Debtor and BoNY Mellon have engaged in discussions concerning
the effect of the Debtor's bankruptcy on the Purchase Contracts
and the Pledge.  As a result of those discussions, the Debtor and
BNYM entered into the Stipulation modifying the automatic stay to
the extent applicable, so that:

  (1) The Purchase Contracts and the Pledge of Collateral by
      Equity Unit Holders will be terminated.

  (2) BoNY Mellon, in its capacities as collateral agent,
      custodial agent, securities intermediary, and purchase
      contract agent, is permitted to transfer:

       (a) each Corporate Unit Holder's pro rata share of the
           9.50% Senior Notes Collateral to that Corporate Unit
           Holder, free and clear of the Pledge; and

       (b) each Treasury Unit Holder's pro rata share of the
           Treasury Securities Collateral to that Treasury Unit
           Holder, free and clear of the Pledge pursuant to the
           Purchase Contract Agreement.

The Purchase Contracts, which form a part of each Equity Unit,
are executory contracts.  Section 365(e)(1) of the Bankruptcy
Code provides that "[n]otwithstanding a provision in an executory
contract . . . an executory contract . . . of the debtor may not
be terminated or modified . . .  at any time after the
commencement of the case solely because of a provision in such
contract . . . that is conditioned on . . . the commencement of a
case under this title."

Allison H. Weiss, Esq., at Dewey & LeBoeuf LLP, in New York, says
that the Purchase Contracts would likely be considered Financial
Accommodation Contracts because they require Equity Unit Holders
to purchase Common Stock, that is a "security" of the Debtor, as
defined under Section 101(49) of the Bankruptcy Code, on the
Purchase Contract Settlement Date.  She further notes that
Section 555 of the Bankruptcy Code provides an exception to the
general rule prohibiting enforcement of ipso facto clauses if the
contract in question is a "Securities Contract" within the
meaning of the Bankruptcy Code.  Here, the Purchase Contracts
would likely be considered "Securities Contracts," as they
require Equity Unit Holders to purchase Common Stock on the
Purchase Contract Settlement Date, she points out.

A Termination Event has occurred as a result of the commencement
of the Debtor's bankruptcy case, and although the provisions in
the Purchase Contract Agreement and the Pledge Agreement
providing for the termination of the Purchase Contracts and the
Pledge, upon the occurrence of a Termination Event are ipso facto
clauses, those provisions are nevertheless enforceable in
bankruptcy because the Purchase Contracts may be considered
Financial Accommodation and Securities Contracts, Ms.Weiss
maintains .

The Court will consider the Debtor's request on November 30,
2010.  Objections are due November 23.

                        About Ambac Financial

Ambac Financial Group, Inc., headquartered in New York City, is a
holding company whose affiliates provided financial guarantees and
financial services to clients in both the public and private
sectors around the world.

Ambac Financial filed a voluntary petition for relief under
Chapter 11 of the U.S. Bankruptcy Code in Manhattan (Bankr.
S.D.N.Y. Case No. 10-15973) on November 8, 2010.  Ambac said it
will continue to operate in the ordinary course of business as
"debtor-in-possession" under the jurisdiction of the Bankruptcy
Court and in accordance with the applicable provisions of the
Bankruptcy Code and the orders of the Bankruptcy Court.

Ambac's bond insurance unit, Ambac Assurance Corp., did not file
for bankruptcy.  AAC is being restructured by state regulators in
Wisconsin.  AAC is domiciled in Wisconsin and regulated by the
Office of the Commissioner of Insurance of the State of Wisconsin.
The parent company is not regulated by the OCI.

Ambac's consolidated balance sheet -- which includes non-debtor
Ambac Assurance Corp -- showed $30.05 billion in total assets,
$31.47 billion in total liabilities, and a $1.42 billion
stockholders' deficit, at June 30, 2010.

On an unconsolidated basis, Ambac said in a court filing that
it has assets of ($394.5 million) and total liabilities of
$1.6826 billion as of June 30, 2010.

Bank of New York Mellon Corp., as trustee to seven different types
of notes, is listed as the largest unsecured creditor, with claims
totaling about $1.62 billion.

The Vanguard Group, Inc., holds 5.46% of the stock of Ambac and is
its largest shareholder.

Peter A. Ivanick, Esq., Allison H. Weiss, Esq., and Todd L.
Padnos, Esq., at Dewey & LeBoeuf LLP represent the Debtor.  The
Blackstone Group LP is the Debtor's financial advisor.  Kurtzman
Carson Consultants LLC is the claims and notice agent.

Bankruptcy Creditors' Service, Inc., publishes AMBAC BANKRUPTCY
NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by Ambac Financial Group Inc.
(http://bankrupt.com/newsstand/or 215/945-7000)


AMBAC FIN'L: U.S. Trustee Forms 5-Member Creditors Committee
------------------------------------------------------------
Pursuant to Section 1102 of the Bankruptcy Code, Tracy Hope
Davis, United States Trustee for Region 2, named on November 17,
2010, five creditors to serve as members of the Official
Committee of Unsecured Creditors in Ambac Financial Group, Inc.'s
Chapter 11 case.

The Committee members are:

  (1) The Bank of New York Mellon Trust Company, N.A.
      Attn: Martin Feig, Vice President
      101 Barclay Street - 8 West
      New York, New York 10286
      Tel: (212) 815-5383
      Fax: (732) 667-4756

  (2) Law Debenture Trust Company of New York
      Attn: Anthony A. Bocchino, Managing Director
      400 Madison Avenue - 4th Floor
      New York, New York 10017
      Tel: (212) 750-6471
      Fax: (212) 750-1361

  (3) Halcyon Master Fund LP
      Attn: John W. Greene, Jr., Managing Principal
      477 Madison Avenue - 8th Floor
      New York, New York 10022
      Tel: (212) 303-9455

  (4) ValueWorks LLC
      Attn: Charles Lemonides, Principal
      1450 Broadway - 42nd Floor
      New York, New York 10018
      Tel: (212) 819-1818
      Fax: (212) 819-1463

  (5) One State Street, LLC
      Attn: Eli Levitin, Managing Director
      One State Street Plaza - 29th Floor
      New York, New York 10004
      Telephone: (212) 344-5210
      Fax: (212) 363-8454

The organizational meeting for the formation of the unsecured
creditors committee was held on November 17, 2010, in New York,
as facilitated by the U.S. Trustee.  Section 1102 requires the
U.S. Trustee to appoint a committee of unsecured creditors to
increase participation of those kind of creditors in a Chapter 11
proceeding.

The Creditors' Committee ordinarily consists of the persons,
willing to serve, that hold the seven largest unsecured claims
against the debtor of the kinds represented on the committee.

BoNY Mellon, as trustee to seven different types of notes, is
listed as the Debtor's largest unsecured creditor, with claims
totaling $1.62 billion.  One Street, one of the Debtor's largest
unsecured creditors, has a $198,110 claim.

Section 1103 of the Bankruptcy Code provides that an unsecured
creditors' committee may consult with the debtor; investigate the
debtor and its business operations; and participate in the
formulation of a plan of reorganization.  The Committee may also
perform other services as are in the interests of the unsecured
creditors whom it represents.

                        About Ambac Financial

Ambac Financial Group, Inc., headquartered in New York City, is a
holding company whose affiliates provided financial guarantees and
financial services to clients in both the public and private
sectors around the world.

Ambac Financial filed a voluntary petition for relief under
Chapter 11 of the U.S. Bankruptcy Code in Manhattan (Bankr.
S.D.N.Y. Case No. 10-15973) on November 8, 2010.  Ambac said it
will continue to operate in the ordinary course of business as
"debtor-in-possession" under the jurisdiction of the Bankruptcy
Court and in accordance with the applicable provisions of the
Bankruptcy Code and the orders of the Bankruptcy Court.

Ambac's bond insurance unit, Ambac Assurance Corp., did not file
for bankruptcy.  AAC is being restructured by state regulators in
Wisconsin.  AAC is domiciled in Wisconsin and regulated by the
Office of the Commissioner of Insurance of the State of Wisconsin.
The parent company is not regulated by the OCI.

Ambac's consolidated balance sheet -- which includes non-debtor
Ambac Assurance Corp -- showed $30.05 billion in total assets,
$31.47 billion in total liabilities, and a $1.42 billion
stockholders' deficit, at June 30, 2010.

On an unconsolidated basis, Ambac said in a court filing that
it has assets of ($394.5 million) and total liabilities of
$1.6826 billion as of June 30, 2010.

Bank of New York Mellon Corp., as trustee to seven different types
of notes, is listed as the largest unsecured creditor, with claims
totaling about $1.62 billion.

The Vanguard Group, Inc., holds 5.46% of the stock of Ambac and is
its largest shareholder.

Peter A. Ivanick, Esq., Allison H. Weiss, Esq., and Todd L.
Padnos, Esq., at Dewey & LeBoeuf LLP represent the Debtor.  The
Blackstone Group LP is the Debtor's financial advisor.  Kurtzman
Carson Consultants LLC is the claims and notice agent.

Bankruptcy Creditors' Service, Inc., publishes AMBAC BANKRUPTCY
NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by Ambac Financial Group Inc.
(http://bankrupt.com/newsstand/or 215/945-7000)


AMERICA'S SUPPLIERS: DollarDays CEO Gets New Two-Year Contract
--------------------------------------------------------------
On November 11, 2010, America's Suppliers Inc. entered into an
employment agreement, with Marc Joseph pursuant to which
Mr. Joseph will continue to serve as President and Chief Executive
Officer of DollarDays International Inc., a wholly-owned
subsidiary of the Company and Chief Executive Officer and
President of Wow My Universe, Inc., a wholly-owned subsidiary of
the Company.

The Joseph Agreement has a two-year term and provides for a base
salary of $180,000.  In addition, the Joseph Agreement provides
for:

     i) a bonus of $30,000 cash compensation for services provided
        in fiscal year 2010,

    ii) warrants to purchase 150,000 shares of common stock of the
        Company, on terms to be determined by the Board of
        Directors of the Company,

   iii) $15,000 cash compensation in the event DollarDays achieves
        100% of certain performance milestones established by the
        Board,

    iv) warrants to purchase 100,000 shares of common stock of the
        Company, on terms to be determined by the Board, in the
        event DollarDays achieves 100% of certain performance
        milestones established by the Board,

     v) warrants to purchase 50,000 shares of common stock of the
        Company, on terms to be determined by the Board, in the
        event DollarDays achieves 115% of certain performance
        milestones established by the Board,

    vi) warrants to purchase 50,000 shares of common stock of the
        Company, on terms to be determined by the Board, in the
        event DollarDays achieves 125% of certain performance
        milestones established by the Board and

   vii) warrants to purchase 50,000 shares of common stock of the
        Company, on terms to be determined by the Board, in the
        event DollarDays achieves 135% of certain performance
        milestones established by the Board.

In the event the Joseph Agreement is terminated by the Company or
Mr. Joseph for any reason or no reason, Mr. Joseph shall receive
all compensation due as of the termination date and severance
equal to 9 months' base salary.

A full-text copy of the Joseph Agreement is available for free
at http://ResearchArchives.com/t/s?6f79

                    About America's Suppliers

Scottsdale, Ariz.-based America's 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 Web site http://www.DollarDays.com/. Orders are
placed by customers through the Web site where, upon successful
payment, the merchandise is shipped directly from the vendors'
warehouses.

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.

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 AXLE: 3-Year Business Backlog Up 20% to $850-Mil.
----------------------------------------------------------
American Axle & Manufacturing Holdings Inc. said that its backlog
of new and incremental business launching from 2011 through 2013
is estimated at $850 million in future annual sales.  AAM's new
business backlog for 2011 - 2013 is more than 20% higher than the
previous three year backlog for 2010 - 2012.

AAM's $850 million new and incremental business backlog for 2011 -
2013 reflects its successful efforts to diversify the business by
increasing AAM's exposure to global growth markets, advancing and
innovating AAM's product portfolio, and growing AAM's customer
base.  AAM's new business backlog for 2011 - 2013 supports AAM's
goal of achieving a $3 billion sales target in 2013, which would
result in a compound annual growth rate in sales of approximately
10% for the next three calendar years.

"The continued expansion of AAM's new business backlog
demonstrates that we are successfully delivering on our long-term
strategic goals of expanding and diversifying AAM's product
portfolio, customer base, served markets and global manufacturing
footprint," said American Axle & Manufacturing Co-Founder,
Chairman of the Board & CEO, Richard E. Dauch.  "We are especially
pleased with the first orders for AAM's EcoTrac brand of fuel-
efficient and environment-friendly driveline products. EcoTrac
enhances AAM's technology leadership position and provides our
customers with better fuel efficiency, lower CO2 emissions, along
with superior ride and handling performance."

AAM values its new and incremental business backlog based on
production volume estimates and program design direction provided
by its customers.  The actual sales value of these awards will
depend on product volumes, program launch timing and foreign
currency exchange.  AAM does not include sales of unconsolidated
joint ventures in its new business backlog.

                        About American Axle

Headquartered in Detroit, Michigan, American Axle & Manufacturing
Holdings Inc. (NYSE: AXL) -- http://www.aam.com/-- is a Tier I
supplier to the automotive industry.  American Axle manufactures,
engineers, designs and validates driveline and drivetrain systems
and related components and chassis modules for light trucks, sport
utility vehicles, passenger cars, crossover vehicles and
commercial vehicles.  AXL has financial support from GM, its
largest customer which accounted for 78% of sales in 2009.

                           *     *     *

As reported by the Troubled Company Reporter on August 5, 2010,
Moody's Investors Service raised American Axle's Corporate Family
Rating and Probability of Default Rating to B2 from Caa1.  The
raising of American Axle's CFR rating to B2 reflects the company's
improved operating performance over the past two quarters and
Moody's belief that this improvement will be sustained over the
intermediate term, supported by stable automotive vehicle
production in North America and cost structure improvements
completed by the company in 2009.  These conditions no longer
support the default risk indicated by the Caa rating.

American Axle carries a long-term issuer default rating of 'B'
from Fitch.  The TCR reported on July 28, 2010 that Fitch's credit
concerns for AXL are focused on high leverage which is expected to
decline considerably over the balance of 2010, negative cash flows
in recent years, underfunded pension plans, limited sales
diversification, risks to vehicle sales expectations which could
be optimistic if the jobless economic recovery restricts vehicle
volumes or if a double-dip recession occurs.

American Axle carries a 'B-' corporate credit rating from Standard
& Poor's Ratings Services.  S&P, which revised its outlook on AXL
to "positive" from "stable" in July 2010, believes American Axle
will generate a significant amount of positive free cash flow in
2010 because of its improved cost structure.

Standard & Poor's Ratings Services said it has raised its
corporate credit rating on American Axle & Manufacturing Holdings
Inc. to 'B+' from 'B-'.  The outlook is stable.

At the same time, S&P raised its issue-level ratings on the
company's senior secured debt to 'BB-' and on the unsecured debt
to 'B-'.


AMERICAN INT'L: Said to Be Reviving Sale of Nan Shan Unit
---------------------------------------------------------
Dow Jones Newswires' Nisha Gopalan reports a person familiar with
the matter said Monday that American International Group Inc. has
invited four Taiwan parties to conduct due diligence on its Nan
Shan Life Insurance Co. unit.  Dow Jones says the four approached
in recent days are Chinatrust Financial Holding Co. Fubon
Financial Holding Co., Cathay Financial Holding Co. and the
chairman of Ruentex Group.

According to Dow Jones, the source said the invitation "to these
firms means the deal is back on the block, but it's in very early
stages.  That source added, "But these are all Taiwan companies so
the aim is to get strategics to bid."

Dow Jones notes Taiwan regulators rejected AIG's proposed sale of
Nan Shan to battery maker China Strategic Holdings Ltd. and
partner Primus Financial Holdings Ltd. in August because of doubts
about China Strategic's financial strength and commitment to Nan
Shan, which controls more than 30% of Taiwan's life-insurance
market.  The $2.15 billion deal between AIG and the China
Strategic consortium had been struck in October 2009.

                             About AIG

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

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

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


AMERICAN MEDIA: Intends to Pay Prepetition Trade Creditors Claims
-----------------------------------------------------------------
American Media Inc. and its units sought and obtained interim
order from the Bankruptcy Court authorizing them to pay
prepetition claims of general unsecured trade creditors in the
ordinary course of business.  The Court also directed banks and
financial institutions to receive, process, honor and pay all
checks presented for payment and electronic payment requests.

In the ordinary course of business, the Debtors incur numerous
fixed, liquidated and undisputed obligations to their Trade
Creditors who provide, among other things, paper, printing
services, distribution services, office supplies and other basic
business necessities for the operation of their businesses.

According to the Debtors, allowing the payment of the Trade
Claims will minimize any disruption to their businesses and will
therefore allow for a smooth reorganization in their Chapter 11
cases.

To meet the demands inherent in the time-sensitive news publishing
industry, the Debtors rely on suppliers and vendors to deliver the
materials necessary to put out their weekly and monthly
publications, to provide the space to display the publications,
and to print and deliver those publications before their content
becomes obsolete.  Without those vendors, the value of the
Debtors' business operations would be significantly diminished
and, in some cases, operations may arrest altogether.

A. Printing and Pre-Press Operational Vendors

Maintenance of good business relations with the outside vendors
that perform the Debtors' printing and pre-press operations, which
involve the conversion of electronic editorial and advertising
files into printed publications, is essential for the Debtors'
successful reorganization.  The Debtors outsource a number of
printing and pre-press operations, including (i) transmittal of
files electronically to third party printing plants for
production, (ii) printing of their publications, and (iii)
transportation and delivery services.

B. Paper Suppliers

The Debtors also purchase large quantities of paper products at a
reduced cost compared to other potential paper sources.  If these
reduced-cost Trade Creditors stop supplying the Debtors with
goods, the Debtors relate that they would have to purchase those
goods from more expensive vendors, who may lack the ability to
provide the necessary goods in the type and quantities the
Debtors require, all of which would negatively impact the Debtors'
revenue and impair their ability to operate.

C. Subscription Needs

Other Trade Creditors handle all of the Debtors' subscription
needs for the Debtors' United States and Canada operations,
including handling all of the billing and revenue collection
services and the storage of subscribers' personal account
information.  The Debtors maintain that certain Trade Creditors
track information on the number of magazine copies sold in the
United States and Canada, which information is then made available
to third parties, like advertisers.  According to the Debtors,
this audited information is critical to the Debtors' advertisers
who make spending decisions based on the number of subscribers or
copies sold, and no other companies provide these or similar
services.

D. Distribution Services

The Debtors rely on certain Trade Creditors to distribute the
single copies of their publications to approximately 103,000
retail outlets in the United States and Canada, representing what
the Debtors believe to be substantially complete coverage of
periodical outlets in these countries.  These Trade Creditors also
process returns of the Debtors' publications, bill and collect
from the retailers, and make payments to the Debtors' national
distributors.  Without these Trade Creditors, the Debtors would be
unable to circulate their magazines for sale and thus they would
lose a substantial portion of their revenue stream.

E. Retail Incentives and Rack Costs

The Debtors' publications at supermarkets, convenience stores,
pharmacies, newsstands and other retail outlets are sold from
racks, displays and retail display pockets placed at specific
locations at the retailers' businesses.  The Debtors are
responsible for three types of charges payable to these retailers;
specifically, (a) fees paid in exchange for use of the actual
space at the checkout counter for display purposes, (b) retail
display allowances, which are fees paid based on quarterly claim
forms from the retailer, generally equal to 10% of the cover price
for each magazine sold, and (c) retail display pockets, which are
fees fixed per pocket the retailer devotes to the Debtors'
publications.

F. Miscellaneous Services

Other Trade Creditors provide vital editorial services and
editorial content to the Debtors, including overseeing the quality
control, overall layout and content of certain of the Debtors'
publications.  Other Trade Creditors support the various IT
infrastructure needs of the Debtors, like hardware and software
support for the editorial staff, accounting, human resources,
legal departments, internet web sites for the Debtors' various
digital properties, and other essential functions.

The Debtors estimate that, over the anticipated duration of their
Chapter 11 cases, they will owe approximately $20.4 million on
account of undisputed Trade Claims for prepetition goods and
services that become due and payable after the Petition Date.
Of that, the Debtors are seeking to pay approximately $7.3 million
to Trade Creditors within the first 20 days of these cases.

The Debtors believe that payment of the Trade Claims will not
create an imbalance of their cash flows because the majority of
these obligations have customary payment terms and will not be
immediately payable.  The Debtors represent that they have
sufficient availability of funds to pay the amounts described
herein in the ordinary course of business by virtue of expected
cash flows from ongoing business operations and anticipated access
to cash collateral.

Christopher Polimeni, executive vice president for Finance and
Planning, chief financial officer and treasurer of American Media,
Inc., stated in a declaration in support of the Motion that the
Motion should be granted because:

  (a) it will help avoid the irreparable harm and disruption to
      the Debtors' business and thus maximize the value of their
      estate;

  (b) it will enable the Debtors to stabilize relationships with
      vendors critically important to their business;

  (c) it will cause no harm to the Debtors' other generally
      unsecured creditors since the Plan provides for all
      holders of general unsecured claims to be paid in full;
      and

  (d) the administrative agent for the lenders of the Debtors'
      prepetition credit facility, whose cash collateral is
      being used to pay the Trade Creditors, has consented to
      the relief sought in the Motion.

The final hearing on the Motion will be held on December 8, 2010.

                      About American Media

Based in New York, American Media, Inc., publishes celebrity
journalism and health and fitness magazines in the U.S.  These
include Star, Shape, Men's Fitness, Fit Pregnancy, Natural Health,
and The National Enquirer.  In addition to print properties, AMI
manages 14 different Web sites.  The company also owns
Distribution Services, Inc., the country's #1 in-store magazine
merchandising company.

American Media, Inc., and 15 units, including American Media
Operations, Inc., filed for Chapter 11 protection in Manhattan
(Bankr. S.D.N.Y. Case No. 10-16140) on November 17, 2010.

American Media filed together with the petition, a pre-packaged
Chapter 11 plan where holders of notes and bank debt would receive
either cash, new notes or stock.

American Media said it would try to emerge from court protection
against creditors in 60 days or less.

Judge Martin Glenn presides over the case.  Ira S. Dizengoff,
Esq., Arik Preis, Esq., Meredith A. Lahaie, Esq., Stefanie L.
Kurlanzik, Esq., and Kevin M. Eide, Esq., at Akin, Gump, Strauss,
Hauer & Feld, LLP, in New York, serve as the Debtors' bankruptcy
counsel.  Moelis & Company is the Debtors' financial advisors and
investment bankers.  Kurtzman Carson Consultants LLC is the claims
and notice agent.

AMI estimated assets of $0 to $50,000 and debts of $500 million to
$1 billion in its Chapter 11 petition.  AMO, AMI's operating unit,
estimated assets of $100 million to $500 million and debts of
$500 million to $1 billion in its Chapter 11 petition.

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


AMERICAN MEDIA: Proposes to File Fee Letters Under Seal
-------------------------------------------------------
American Media Inc. and its units seek the U.S. Bankruptcy Court's
authority to file under seal copies of the fee letters in
connection with their proposed new financing and a backstop
commitment deals.

The Debtors ask the Court to direct that the Fee Letters will
remain under seal and confidential and not be made available to
anyone without the consent of the Debtors or further order of the
Court.  The Debtors assert that the information contained in the
Fee Letters falls well within the scope of confidential
information that may be protected pursuant to Section 107(b)(1) of
the Bankruptcy Code.

Redacted copies of New Revolver Fee Letter and one of the New
Notes Offering Fee Letters are available for free at:

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

As published in the Troubled Company Reporter on November 22, the
Debtors are seeking authority to assume or enter into, as
applicable, certain agreements related to a new financing and a
backstop commitment.

The Agreements refer to:

    * an engagement letter related to notes offerings that will
      enable the Debtors to fund $385 million of New First Lien
      Financing and up to approximately $140 million of New
      Second Lien Financing;

    * a commitment letter related to an approximately
      $40 million New Revolver Facility;

    * a backstop agreement pursuant to which Avenue Capital
      Management II, L.P., and Angelo, Gordon & Co., L.P., as
      backstop parties, have committed to purchase any New
      Second Lien Notes distributed to holders of Term Facility
      Claims under the Plan;

    * certain escrow agreements related to the New First Lien
      Financing and the New Second Lien Financing, if
      necessary; and

    * certain fee agreements related to the New Revolver
      Facility and the Notes Offerings.

Contemporaneously with negotiating the Restructuring Support
Agreement, the Debtors also entered into negotiations with various
financial institutions with respect to the terms of new financing
they would require to consummate their restructuring and fund
ongoing working capital needs.

In connection with those negotiations, the Debtors contacted five
banks and sought proposals for $525 million in new first lien
financing to refinance their total outstanding indebtedness under
the 2009 Credit Agreement.  However, none of the banks contacted
were able to generate enough market interest to fund a facility of
the requested magnitude, Ira S. Dizengoff, Esq., at Akin Gump
Strauss Hauer & Feld LLP, in New York, relates.

The Debtors, faced with the reality that they would not be able to
raise more than $385 million in first lien financing and would
thus be unable to pay all of their prepetition secured lenders in
full and in cash, entered into discussion with certain of their
bondholders with respect to the terms of potential second lien
financing.  As a result of those discussions, the Debtors and
those bondholders negotiated a backstop agreement that would
provide holders of Term Facility claims with a mechanism, should
they wish, to receive payment in full and in cash of their claims
under a plan of reorganization.

The Debtors ultimately realized that they could not secure a
commitment from the banks to place the new second lien financing
and thus, executed the Backstop Agreement to ensure the successful
consummation of the consensual restructuring described under the
Plan of Reorganization.

Indeed, without the agreement of the Backstop Parties, the Debtors
would likely have been unable to propose a plan of reorganization
acceptable to the prepetition secured lenders, Mr. Dizengoff tells
the Court.

The Debtors delivered to the Court on November 18, 2010, exhibits
to the motion, including the Engagement Letter, Commitment Letter
and Backstop Agreement, full-text copies of which are available
for free at http://bankrupt.com/misc/AMI_FinancingExh.pdf

                      About American Media

Based in New York, American Media, Inc., publishes celebrity
journalism and health and fitness magazines in the U.S.  These
include Star, Shape, Men's Fitness, Fit Pregnancy, Natural Health,
and The National Enquirer.  In addition to print properties, AMI
manages 14 different Web sites.  The company also owns
Distribution Services, Inc., the country's #1 in-store magazine
merchandising company.

American Media, Inc., and 15 units, including American Media
Operations, Inc., filed for Chapter 11 protection in Manhattan
(Bankr. S.D.N.Y. Case No. 10-16140) on November 17, 2010.

American Media filed together with the petition, a pre-packaged
Chapter 11 plan where holders of notes and bank debt would receive
either cash, new notes or stock.

American Media said it would try to emerge from court protection
against creditors in 60 days or less.

Judge Martin Glenn presides over the case.  Ira S. Dizengoff,
Esq., Arik Preis, Esq., Meredith A. Lahaie, Esq., Stefanie L.
Kurlanzik, Esq., and Kevin M. Eide, Esq., at Akin, Gump, Strauss,
Hauer & Feld, LLP, in New York, serve as the Debtors' bankruptcy
counsel.  Moelis & Company is the Debtors' financial advisors and
investment bankers.  Kurtzman Carson Consultants LLC is the claims
and notice agent.

AMI estimated assets of $0 to $50,000 and debts of $500 million to
$1 billion in its Chapter 11 petition.  AMO, AMI's operating unit,
estimated assets of $100 million to $500 million and debts of
$500 million to $1 billion in its Chapter 11 petition.

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


AMERICAN MEDIA: To Honor Prepetition Obligations to Customers
-------------------------------------------------------------
American Media Inc. and its affiliates sought and obtained the
U.S. Bankruptcy Court's interim authority to honor certain
prepetition obligations to customers and certain retail outlets
utilized to distribute their publications, and to otherwise
continue customer and distribution programs and practices in the
ordinary course of business.  The Debtors also sought and obtained
the Court's order authorizing and directing financial institutions
to receive, process, honor and pay all checks presented for
payment and electronic payment requests.

Prior to the Petition Date and in the ordinary course of business,
the Debtors engaged in certain practices to develop and sustain a
positive reputation in the marketplace for their publications and
maximize their sales and advertising revenues. These practices
include, among other things, (1) rebates, credits and warranties
to advertisers that purchase advertising in the Debtors'
publications, (2) refunds paid or credited to wholesalers and
distributors of the Debtors' publications for unsold copies,
(3) honoring subscriptions paid in advance by subscribers to the
Debtors' publications, and (4) the payment of prizes to winners
of contests run by the Debtors in their publications.

According to the Debtors, the goals of the Customer and
Distribution Programs have been and are to meet competitive
pressures, ensure customer satisfaction, maximize sales, and
generate goodwill, thereby retaining current customers, attracting
new ones, and ultimately enhancing net revenues.

The Debtors believe that, as of the Petition Date, their liability
for prepetition Customer and Distribution Programs total
$36,074,065:

   Advertising Rebates and Credits            $1,501,965
   Advertising Refund                            642,000
   Prepaid Subscriptions                      33,780,000
   Prepetition Subscription Cancellations        135,000
   Contest Prizes                                 15,100

The final hearing on the Motion will be held on December 8, 2010.

                      About American Media

Based in New York, American Media, Inc., publishes celebrity
journalism and health and fitness magazines in the U.S.  These
include Star, Shape, Men's Fitness, Fit Pregnancy, Natural Health,
and The National Enquirer.  In addition to print properties, AMI
manages 14 different Web sites.  The company also owns
Distribution Services, Inc., the country's #1 in-store magazine
merchandising company.

American Media, Inc., and 15 units, including American Media
Operations, Inc., filed for Chapter 11 protection in Manhattan
(Bankr. S.D.N.Y. Case No. 10-16140) on November 17, 2010.

American Media filed together with the petition, a pre-packaged
Chapter 11 plan where holders of notes and bank debt would receive
either cash, new notes or stock.

American Media said it would try to emerge from court protection
against creditors in 60 days or less.

Judge Martin Glenn presides over the case.  Ira S. Dizengoff,
Esq., Arik Preis, Esq., Meredith A. Lahaie, Esq., Stefanie L.
Kurlanzik, Esq., and Kevin M. Eide, Esq., at Akin, Gump, Strauss,
Hauer & Feld, LLP, in New York, serve as the Debtors' bankruptcy
counsel.  Moelis & Company is the Debtors' financial advisors and
investment bankers.  Kurtzman Carson Consultants LLC is the claims
and notice agent.

AMI estimated assets of $0 to $50,000 and debts of $500 million to
$1 billion in its Chapter 11 petition.  AMO, AMI's operating unit,
estimated assets of $100 million to $500 million and debts of
$500 million to $1 billion in its Chapter 11 petition.

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


AMERICAN MEDIA: To Pay Prepetition Taxes & Fees
-----------------------------------------------
American Media Inc. and its units sought and obtained the
Bankruptcy Court's interim order authorizing them to pay certain
sales and use, real and personal property, business, franchise and
other taxes, as well as certain annual reporting fees.  The Court
also authorized financial institutions to receive, process, honor,
and pay checks presented for payment and electronic payment
requests.

In the ordinary course of business, the Debtors: (a) collect and
incur taxes, including certain sale and use, real and personal
property, business, franchise and other taxes in operating their
businesses and (b) pay fees and other similar charges and
assessments to various taxing, licensing and other governmental
authorities for licenses and permits required to conduct the
Debtors' businesses in the ordinary course.  The Debtors pay the
Taxes and Fees monthly, quarterly or annually to the Authorities,
in each case as required by applicable laws and regulations.

The Debtors asserted that their failure to pay the Taxes and Fees
could materially and adversely impact their business operations in
several ways.  According to the Debtors, the Authorities may:

  -- initiate audits, which would unnecessarily divert their
     attention from the tasks required by the reorganization
     process at a critical time for their businesses; and

  -- also attempt to suspend their operations, file liens, seek
     to lift the automatic stay and pursue other remedies that
     will be administratively burdensome to their estates.

Furthermore, the Debtors noted, certain directors and officers
could be subject to personal liability, which would likely
distract those key personnel from their duties related to their
restructuring.

With respect to the Fees, the Debtors asserted that their failure
to pay those Fees to the Authorities and other relevant third
parties would cause them to incur late fees, penalties and other
charges in addition to the Fees.

(A) Sales and Use Taxes

The Debtors remit sales taxes in connection with the sale of
products to their customers.  The Debtors are also responsible for
remitting use taxes on account of the purchase of goods used in
their businesses.  Use taxes typically arise if a supplier does
not have business operations in the state in which it is supplying
goods and does not charge state taxes.

B. State Property Taxes

Under applicable law, state and local governments in jurisdictions
where the Debtors' operations are located, including New York,
California, Florida, Michigan, and Tennessee, are granted the
authority to levy property taxes against real and personal
property.

C. Business Taxes and Annual Reporting Fees

Certain states require the Debtors to pay various business taxes.
These taxes may be based on gross receipts or other bases
determined by the taxing jurisdiction.  Further, certain states
require the Debtors to pay annual reporting fees to state
governments to remain in good standing for purposes of conducting
business within the state.

D. Franchise Taxes

The Debtors pay franchise taxes to certain of the Authorities to
operate their businesses in the applicable taxing jurisdiction.
States assess franchise taxes in one of these manners: (a) a flat
franchise tax on all businesses; (b) a franchise tax based on net
operating income; and (c) a franchise tax on capital employed in
the businesses.

E. Miscellaneous Taxes and Fees

Various state and local laws require the Debtors to obtain and pay
fees for a wide range of licenses and permits from a number of
local, state and federal regulatory agencies.  In addition, the
Debtors are also required by applicable law to pay certain foreign
taxes and fees, import/export fees, customs fees and duties.  The
method for calculating amounts due under those licenses and
permits and the deadlines for paying those amounts varies by
jurisdiction.

The Debtors told the Court that they owed this amounts with
respect to Taxes and Fees as of the Petition Date:

  Sales and Use Taxes                         $75,000
  State Property Taxes                         $1,000
  Business Taxes and Annual Reporting Fees    $35,000
  Franchise Taxes                             $11,000

The final hearing on the Motion will be held on December 8, 2010.

                      About American Media

Based in New York, American Media, Inc., publishes celebrity
journalism and health and fitness magazines in the U.S.  These
include Star, Shape, Men's Fitness, Fit Pregnancy, Natural Health,
and The National Enquirer.  In addition to print properties, AMI
manages 14 different Web sites.  The company also owns
Distribution Services, Inc., the country's #1 in-store magazine
merchandising company.

American Media, Inc., and 15 units, including American Media
Operations, Inc., filed for Chapter 11 protection in Manhattan
(Bankr. S.D.N.Y. Case No. 10-16140) on November 17, 2010.

American Media filed together with the petition, a pre-packaged
Chapter 11 plan where holders of notes and bank debt would receive
either cash, new notes or stock.

American Media said it would try to emerge from court protection
against creditors in 60 days or less.

Judge Martin Glenn presides over the case.  Ira S. Dizengoff,
Esq., Arik Preis, Esq., Meredith A. Lahaie, Esq., Stefanie L.
Kurlanzik, Esq., and Kevin M. Eide, Esq., at Akin, Gump, Strauss,
Hauer & Feld, LLP, in New York, serve as the Debtors' bankruptcy
counsel.  Moelis & Company is the Debtors' financial advisors and
investment bankers.  Kurtzman Carson Consultants LLC is the claims
and notice agent.

AMI estimated assets of $0 to $50,000 and debts of $500 million to
$1 billion in its Chapter 11 petition.  AMO, AMI's operating unit,
estimated assets of $100 million to $500 million and debts of
$500 million to $1 billion in its Chapter 11 petition.

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


AMERICAN MEDIA: Wants to Pay Shippers & Warehousemen Claims
-----------------------------------------------------------
American Media Inc. and its units sought and obtained the Court's
interim order authorizing them to pay $272,000 for certain
prepetition shipping charges.  The Court also authorized financial
institutions to honor all related checks and electronic payment
requests.

The Debtors' businesses depend entirely upon the timely printing
and distribution of their celebrity journalism and health and
fitness publications.  With respect to the production of their
publications, the Debtors direct the delivery of raw paper from
paper mills or purchasing agents to their contracted third-party
printers.  The Debtors purchase paper supplies by two different
methods:

  (i) approximately 15% of the Debtors' paper supplies is
      purchased directly from paper mills selected for location
      and ability to handle the Debtors' high-volume requests;
      and

(ii) approximately 85% of the Debtors' paper supplies is
      purchased through purchasing agents who are able to obtain
      the most favorable price by soliciting bids from many
      different smaller paper mills.

On average, the Debtors estimate that they purchase approximately
$4.2 million worth of raw paper per month to produce their total
average newsstand and subscription circulation of approximately
7.5 million copies per issue for all publications.

The Debtors' publications are distributed to newsstands primarily
by three wholesalers, which represent 81% of the newsstand
distribution market, as well as several smaller wholesalers who
represent the remaining 19%.  The Wholesalers obtain the finished
publications directly from the Debtors' printers and distribute
the finished products to the retail outlets in the United States
and Canada.  While many publications go directly from the printers
to retail locations, certain publications are stored for a time by
"break agents" who aggregate and maximize the shipment of the
Debtors' publications with other publishers' products in order to
increase transportation efficiency.

The Debtors' businesses depend on two separate and equally
important transportation processes: (a) the frequent delivery of
paper products in support of printing operations and (b) the
frequent, sometimes daily, delivery of finished publications to
approximately 103,000 retail outlets and subscribers.  The Debtors
contract with shippers including, without limitation, the
Wholesalers, railroads, truckers, and short-distance delivery
personnel to ship, transport, store, and deliver paper and other
printing raw materials, as well as finished publications, to and
from the Debtors' vendors, the Debtors' printers, and the Debtors'
customers.

When necessary, the Debtors and the Debtors' agents also utilize
certain third-party warehousemen to store paper supplies and
finished publications while in transit.  Pursuant to agreements
between the Debtors and their printers, the Debtors' paper
supplies are stored on-site at the printers.  The Debtors also
employ third-party logistics coordinators for the in-bound, out-
bound, and inter-facility transport of goods and finished
products.

As of the Petition Date, the Debtors estimate that the
Prepetition Shipping Charges are approximately $80,000.  The
Debtors maintain that the total proposed amount to be paid to the
Shipping and Warehousing Parties is minimal compared to the
importance of the Shipping and Warehousing Parties to the their
businesses and the losses they Debtors may suffer if their
operations are disrupted.

The final hearing will be held on December 8, 2010.

                      About American Media

Based in New York, American Media, Inc., publishes celebrity
journalism and health and fitness magazines in the U.S.  These
include Star, Shape, Men's Fitness, Fit Pregnancy, Natural Health,
and The National Enquirer.  In addition to print properties, AMI
manages 14 different Web sites.  The company also owns
Distribution Services, Inc., the country's #1 in-store magazine
merchandising company.

American Media, Inc., and 15 units, including American Media
Operations, Inc., filed for Chapter 11 protection in Manhattan
(Bankr. S.D.N.Y. Case No. 10-16140) on November 17, 2010.

American Media filed together with the petition, a pre-packaged
Chapter 11 plan where holders of notes and bank debt would receive
either cash, new notes or stock.

American Media said it would try to emerge from court protection
against creditors in 60 days or less.

Judge Martin Glenn presides over the case.  Ira S. Dizengoff,
Esq., Arik Preis, Esq., Meredith A. Lahaie, Esq., Stefanie L.
Kurlanzik, Esq., and Kevin M. Eide, Esq., at Akin, Gump, Strauss,
Hauer & Feld, LLP, in New York, serve as the Debtors' bankruptcy
counsel.  Moelis & Company is the Debtors' financial advisors and
investment bankers.  Kurtzman Carson Consultants LLC is the claims
and notice agent.

AMI estimated assets of $0 to $50,000 and debts of $500 million to
$1 billion in its Chapter 11 petition.  AMO, AMI's operating unit,
estimated assets of $100 million to $500 million and debts of
$500 million to $1 billion in its Chapter 11 petition.

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


AMF BOWLING: Moody's Junks Corporate Family Rating From 'B3'
------------------------------------------------------------
Moody's Investors Service lowered AMF Bowling Worldwide, Inc.,
corporate family and probability-of-default ratings to Caa1 from
B3, and the first lien senior secured credit facilities to B2 from
B1.  Moody's also affirmed the Caa2 rating on the second lien term
loan.  The ratings outlook remains negative.

Ratings downgraded:

  -- Corporate Family Rating to Caa1 from B3;

  -- Probability-of-Default Rating to Caa1 from B3;

  -- $40 million 1st lien revolving credit facility due 2012 to B2
     (LGD3, 30%) from B1 (LGD3, 30%);

  -- $227 million 1st lien term loan due 2013 to B2 (LGD3, 30%)
     from B1 (LGD3, 30%).

Ratings affirmed:

  -- $80 million 2nd lien term loan due 2013 at Caa2 (LGD5, 80%).
     Point estimate revised from (LGD5, 79%).

                        Ratings Rationale

The ratings downgrade was prompted by AMF's ongoing elevated
financial leverage and Moody's concern over the company's ability
to improve its credit metrics given the soft consumer spending
environment.  These issues heighten Moody's concern over the
company's ability to address pending medium-term debt maturities,
the first being the revolving credit facility in June 2012.
However, the rating derives some support from AMF's ongoing
efforts to control costs and expectations for adequate near-term
liquidity, supported by a meaningful unrestricted cash balance.

The Caa1 corporate family rating reflects AMF's high leverage,
weak interest coverage, significant medium-term debt maturities,
high fixed costs, and growth-oriented capital expenditures that
have constrained cash flows.  The rating also considers a weak
consumer spending environment that has pressured same center
revenues, and the seasonality of league bowling revenues.
Notwithstanding these risks, the rating recognizes the benefits of
AMF's focus on its bowling operations, its cost reduction
initiatives, and adequate liquidity profile.

The negative outlook reflects Moody's expectation that same center
revenues and operating profits will remain under pressure.

The rating could be downgraded if AMF's operating performance
deteriorates and/or if it appears likely that it will be unable to
address pending debt obligations.  Additionally, the ratings could
be pressured if AMF's liquidity weakens through an increase in
borrowing levels or perceived covenant issues.

It is unlikely that AMF's ratings will be upgraded barring
sustained positive improvements in same center revenues and/or
meaningful and permanent debt reduction.

Headquartered in Richmond, Virginia, AMF Bowling Worldwide, Inc.,
is the largest operator of bowling centers in the world with
approximately 307 centers in operation, including eight centers
outside the United States.


ANTS SOFTWARE: Earns $88,100 in September 30 Quarter
----------------------------------------------------
ANTs software inc. filed its quarterly report on Form 10-Q,
reporting net income of $88,053 on $1.69 million of revenue for
the three months ended September 30, compared with a net loss
of $14.06 million on $1.38 million of revenue for the same period
of 2009.

The Company has an accumulated deficit of $141.35 million as of
September 30, 2010.

The Company's balance sheet as of September 30, 2010, showed
$31.17 million in total assets, $17.82 million in total
liabilities, and stockholders' equity of $13.35 million.

Weiser LLP, in New York, 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 the
Company has incurred significant recurring operating losses,
decreasing liquidity, and negative cash flows from operations.

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

               http://researcharchives.com/t/s?6f7c

San Francisco, Calif.-based ANTs software inc. developed the ANTs
Compatibility Server, or ACS and continues to develop additional
ACS products.  The ACS brings the promise of a fast, cost-
effective method to move applications from one database to another
and enables enterprises to achieve cost efficiencies by
consolidating their applications onto fewer databases.  The
Company's IT managed services and professional services division
provides pre- and post-sales services related to the ACS and
application migration, application and database architecting,
monitoring and management.


ARVINMERITOR INC: Earns $2 Million in September 30 Quarter
----------------------------------------------------------
ArvinMeritor Inc. reported financial results for its fourth
quarter and full fiscal year ended Sept. 30, 2010.  Net income was
$2 million compared to a net loss of $14 million in the prior
year's fourth quarter.

For the fourth quarter of fiscal year 2010, ArvinMeritor posted
sales of $956 million, up thirty-seven percent from the same
period last year.  This increase in sales was primarily due to
stronger truck demand in Europe and the Americas.  As compared to
the third quarter of fiscal year 2010, sales in the fourth quarter
were slightly lower.

Net income and income from continuing operations on a GAAP basis,
as well as adjusted income from continuing operations for the
fourth quarter of fiscal year 2010, include approximately $7
million of income related to a gain on the curtailment of the
company's U.K. pension plan.

Adjusted EBITDA was $70 million, compared to $43 million in the
fourth quarter of fiscal year 2009.  Adjusted EBITDA margin was
7.3 percent in the fourth quarter of fiscal year 2010 compared to
6.2 percent in the same period last year.  The favorable impact of
higher sales volumes in our commercial truck business segment, as
well as stronger demand in Asia Pacific, improved overall margins
despite reduced demand for certain military OEM and service
products versus the prior year.

"Adjusted EBITDA was up 63 percent compared to the same period in
fiscal year 2009 primarily due to recovering volumes in the global
commercial vehicle markets," said Chairman, CEO and President Chip
McClure.  "Free cash flow for the quarter was $42 million, an
improvement of $20 million from the same period last year
resulting in our sixth consecutive quarter of positive free cash
flow," said McClure.

The Company's balance sheet at Sept. 30, 2010, showed
$2.87 billion in total assets, $1.39 billion in total current
liabilities, $1.029 billion in long-term debt, $1.16 billion in
retirement benefits, $321 million in other liabilities, and a
stockholders' deficit of $1.054 billion.  Stockholders' deficit
was $909.0 million at June 30, 2010.

A full-text copy of the earnings release is available for free
at http://ResearchArchives.com/t/s?6f46

                       About ArvinMeritor

Based in Troy, Michigan, ArvinMeritor, Inc.  --
http://www.arvinmeritor.com/-- supplies integrated systems,
modules and components to the motor vehicle industry.  The Company
celebrated its centennial anniversary in 2009.  The Company serves
commercial truck, trailer and specialty original equipment
manufacturers and certain aftermarkets, and light vehicle
manufacturers.

ArvinMeritor has 'B3' corporate family and probability of default
ratings from Moody's Investors Service.  In July 2010, when
Moody's raised the ratings to 'B3' from 'Caa1', it noted that
about 52% of the company's fiscal 2010 revenues to date are from
North America, where demand is expected to strengthen in the
second half of the year.  But with 21% of the Company's revenue
from Europe, a slower pace of economic recovery is expected to
constrain overall growth.  Tight credit markets also may limit
near-term growth in commercial vehicle purchases, Moody's said.


ASARCO LLC: Fifth Circuit Dismisses Appeal on Confirmation Order
----------------------------------------------------------------
The United States Court of Appeals for the Fifth Circuit dismissed
the appeal filed by Sterlite (USA) Inc., Sterlite Industries
(India), Ltd., and the United Steel, Paper and Forestry, Rubber,
Manufacturing, Energy, Allied Industrial and Service Workers
International Union, AFL-CIO against the order confirming the plan
of reorganization proposed by Asarco Incorporated and Americas
Mining Company for the Debtors.

AMC and Asarco Inc. sought dismissal of the Appeal, arguing that
it is equitably moot and that Sterlite lacks standing to appeal.

In a 5-page order dated November 12, 2010, Circuit Judges Emilio
Garza, Fortunato Benavides and Marcia Crone held that all three
prongs of equitable mootness favor dismissal of the Appeal.

Three factors that a court typically considers in determining
whether to apply equitable mootness are:

  (1) Whether a stay has been obtained;
  (2) Whether the plan has been 'substantially consummated'; and
  (3) Whether the relief requested would affect either the
      rights of parties not before the court or the success of
      the plan of reorganization.

The Fifth Circuit noted that the Appellants have not sought a
stay and the confirmed Parent's Plan has been substantially
consummated with the distribution of billions of dollars to pay
creditors' claims.  The Fifth Circuit further acknowledged that
settlements of environmental claims have been reached with the
federal government and numerous states, and numerous other
transactions, including real property transfers, have already
occurred.

As to whether the relief requested would affect the rights of
parties not before the court or would jeopardize the success of
the reorganization plan, the Appellants have maintained that they
do not want to unravel the Parent's Plan but instead seek a
limited remedy -- an order that would substitute Sterlite as the
primary equity holder.  The Appellants added that the finite
relief sought would not affect third parties.

"There is ample reason to think that substituting Sterlite as the
primary equity-holder would have a far-reaching impact," the
Fifth Circuit opined.  "It would be difficult to maintain
anything resembling the status quo if the primary equity holder
were replaced by Sterlite."

In that instance, a change in the equity holder's identity would
affect numerous complex financial transactions, the Fifth Circuit
pointed out.

                          About Asarco LLC

Based in Tucson, Arizona, ASARCO LLC -- http://www.asarco.com/--
is an integrated copper mining, smelting and refining company.
Grupo Mexico S.A. de C.V. is ASARCO's ultimate parent.

ASARCO LLC filed for Chapter 11 protection on August 9, 2005
(Bankr. S.D. Tex. Case No. 05-21207).  Attorneys at Baker Botts
L.L.P., and Jordan, Hyden, Womble & Culbreth, P.C., represented
the Debtor in its restructuring efforts.

On December 9, 2009, Grupo Mexico, S.A.B., consummated the Chapter
11 plan that it sponsored for Asarco LLC.  The Plan, which was
confirmed both by the bankruptcy and district courts, reintegrated
Asarco LLC back to parent Grupo Mexico concluding the four-year
Chapter 11 proceeding.

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


ASARCO LLC: Files Post-Confirmation Report for Third Quarter
------------------------------------------------------------
Mark A. Roberts of Alvarez and Marsal North America, LLC, as Plan
Administrator, prepared a post-confirmation report for the period
from July 1 to September 30, 2010, for ASARCO LLC and its
affiliates.

The Chapter 11 Plan for the ASARCO LLC Debtors was declared
effective on December 9, 2009.  On that date, the Plan
Administrator received funds, totaling $3,633,127,834, which were
intended to pay for allowed claim amounts and reserved for
unresolved claims.

The Plan Administrator prepared tables on a summary of plan
distributions and administrative expenses incurred by the Debtors
within the reporting period.

                      ASARCO LLC, et al.
                   Post-Confirmation Report
             For Quarter Ended September 30, 2010

                              Current                   Balance
                              Quarter    Paid to Date     Due
                           ------------  -------------  -------
Plan Admin. Fees & Expenses
---------------------------
Plan Admin. Compensation       $166,845     $1,257,541        -
Legal Fees                    2,276,601      3,596,061        -
Other Professional Fees       9,701,970     10,976,575        -
All Other Expenses                    7         53,393        -

Distributions
-------------
Admin. Expenses:
Debtor Prof. Fees                68,802     12,312,799        -
Non-Professional Fees            40,491    302,931,869        -
Secured Creditors             3,000,000      3,238,416        -
Priority Creditors              146,418      1,047,365        -
Unsecured Creditors           1,824,063  3,072,267,689        -
Equity Security Holders               -              -        -
Other Payments/Transfers              -    133,295,535        -
                           -------------  -------------  -------
Total Plan Payments          $17,225,195 $3,540,977,243        -
                           =============  =============  =======

                      ASARCO LLC, et al.
                   Post-Confirmation Report
             For Quarter Ended September 30, 2010

                              Current                   Balance
Debtor Professional Fees       Quarter    Paid to Date     Due
------------------------    ------------  -------------  -------
AlixPartners LLP                       -       $585,531        -
Anderson Kill & Olick, PC Op Acct      -        770,434        -
Baker Botts LLP                        -      1,097,117        -
Ballared Spahr, LLP                    -          1,205        -
Barclays Capital Inc.                  -      5,417,409        -
Bates White, LLC                       -         85,458        -
Casecentral, Inc.                      -         17,178        -
Charter Oak Financial Consultants      -        140,597        -
Colvin Chaney Saenz & Rodriguez LLP    -             85        -
Creta Law Firm                         -         23,397        -
Elias, Meginnes, Riffle & Seghetti     -          1,125        -
Encore                                 -          3,181        -
Equivalent Data                        -          1,474        -
Eric L. Hiser, PLC                     -          1,687        -
Exponent, Inc.                         -          9,979        -
Fennemore Craig                  $46,277        239,882        -
Friday, Eldredge & Clark, LLP          -            727        -
FTI Consulting, Inc.                   -      1,570,045        -
Fulbright & Jaworski L.L.P.            -         14,525        -
George A. Tsiolis                      -         29,114        -
Gibson, Dunn & Crutcher LLP            -        106,870        -
Gnarus Advisors                        -         10,073        -
Goodstein Law Group PLLC               -          2,202        -
Grant Thornton LLP                     -        256,830        -
Hanna Brophy MacLean McAleer           -            767        -
Hawley Troxell                         -            983        -
Herold Law Operating Account           -         51,143        -
Intralinks Operating Account           -         12,089        -
Jennings, Strouss & Salmon, PLC        -         26,235        -
Jordan, Hyden, Womble & Culbreth       -        247,610        -
Keegan Linscott & Kenon                -        137,666        -
Kramer Rayson LLP                      -         12,623        -
Law Office Of Robert C. Pate           -         26,202        -
Legal Analysis Systems Inc.        3,575         11,706        -
Little Pedersen Fankhauser             -             36        -
Merrill Communications                 -         26,836        -
Mooney, Wright & Moore, PLLC           -          9,997        -
Oppenheimer, Blend, Harrison & Tate    -        130,180        -
Patton Boggs LLP                       -         43,041        -
Poore, Roth & Robinson, P.C.           -            170        -
Porter & Hedges, L.L.P.                -         43,849        -
Porzio Bromberg & Newman PC            -         64,853        -
Quarles & Brady Streich Lang      13,791        103,446        -
Reed Smith LLP                         -        269,948        -
Sitrick and Company Inc.           5,160          5,160        -
Stone Pigmann Regular Checking         -          1,081        -
Stutzman, Bromberg, Esserman & Plifka  -        673,916        -
The Claro Group, LLC                   -          7,087        -
The Rangel Law Firm, PC                -          6,903        -
W D Hilton Jr.                         -         13,150        -
                           -------------  -------------  -------
    Total                        $68,802    $12,312,799        -
                           =============  =============  =======

The Post-Confirmation Report was delivered to the Court on
November 18, 2010.

                          About Asarco LLC

Based in Tucson, Arizona, ASARCO LLC -- http://www.asarco.com/--
is an integrated copper mining, smelting and refining company.
Grupo Mexico S.A. de C.V. is ASARCO's ultimate parent.

ASARCO LLC filed for Chapter 11 protection on August 9, 2005
(Bankr. S.D. Tex. Case No. 05-21207).  Attorneys at Baker Botts
L.L.P., and Jordan, Hyden, Womble & Culbreth, P.C., represented
the Debtor in its restructuring efforts.

On December 9, 2009, Grupo Mexico, S.A.B., consummated the Chapter
11 plan that it sponsored for Asarco LLC.  The Plan, which was
confirmed both by the bankruptcy and district courts, reintegrated
Asarco LLC back to parent Grupo Mexico concluding the four-year
Chapter 11 proceeding.

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


ASARCO LLC: Plan Admin. Wants Until Jan. 21 for Claims Objections
-----------------------------------------------------------------
Mark A. Roberts of Alvarez and Marsal North America LLC, the
Reorganized Asarco's Plan Administrator, asks the Bankruptcy Court
to extend the time by which he can file objections to claims
pursuant to Section 14.2 of the Confirmed Plan of Reorganization
and Rule 9006(b)(1)(1) of the Federal Rules of Bankruptcy
Procedure, through and including January 21, 2011.

The current Claims Objection Deadline expired on November 19,
2010.

The Plan Administrator is concerned that unmeritorious claims
might be allowed merely by the passage of time, Dion W. Hayes,
Esq., at McGuirewoods LLP, in Richmond, Virginia, tells the
Court.  He avers that the requested extension will not prejudice
the holders of Disputed Claims because Postpetition Interest
continues to accrue and will be paid on the Allowed Amount, if
any, of a Disputed Class 3 Claim, if and when it becomes an
Allowed Claim.

Mr. Hayes assures the Court that the Plan Administrator and
Reorganized ASARCO LLC will not use the sought extension to delay
payment to claimants, who are appropriately entitled to
distributions under the Confirmed Plan.

                          About Asarco LLC

Based in Tucson, Arizona, ASARCO LLC -- http://www.asarco.com/--
is an integrated copper mining, smelting and refining company.
Grupo Mexico S.A. de C.V. is ASARCO's ultimate parent.

ASARCO LLC filed for Chapter 11 protection on August 9, 2005
(Bankr. S.D. Tex. Case No. 05-21207).  Attorneys at Baker Botts
L.L.P., and Jordan, Hyden, Womble & Culbreth, P.C., represented
the Debtor in its restructuring efforts.

On December 9, 2009, Grupo Mexico, S.A.B., consummated the Chapter
11 plan that it sponsored for Asarco LLC.  The Plan, which was
confirmed both by the bankruptcy and district courts, reintegrated
Asarco LLC back to parent Grupo Mexico concluding the four-year
Chapter 11 proceeding.

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


ASARCO LLC: Settles EPA's Blue Ledge Claim for $2.4 Million
-----------------------------------------------------------
Reorganized ASARCO LLC notified the Bankruptcy Court and parties-
in-interest that, together with the Plan Administrator Mark A.
Roberts, it entered into a settlement agreement with the United
States of America, on behalf of the United States Department of
Agriculture Forest Service and the United States Environmental
Protection Agency, regarding the Blue Ledge Claim.

The Blue Ledge Claim, also known as Claim No. 18284, was asserted
for response costs and natural resource damages at the Blue Ledge
Mine in Siskiyou County, California.

The Settlement is subject to a 15-day public comment period, and
the Government will file a further notice of public comments
received and any response thereto, or the lack thereof, upon the
expiration of the public comment period.

The parties agree that:

  -- The EPA will have an Allowed General Unsecured Claim for
     $2,350,000, and the Department of Agriculture will have the
     same claim for $50,000;

  -- Payment of the Settlement Amount or costs, with no interest
     prepetition or postpetition, will be made after the filing
     of the Notice; and

  -- Distributions received by the EPA for its allowed claims
     will be deposited in the Blue Ledge Mine Special Account
     within the EPA Hazardous Substance Superfund to be retained
     and used to conduct or finance response actions at or in
     connection with the Site, to be transferred by the EPA to
     the Superfund.

The Settlement in no way impairs the scope and effect of ASARCO's
discharge under Section 1140 of the Bankruptcy Code as to any
third parties or as to any claims that are not addressed by the
Settlement, the parties aver.

ASARCO also agrees to dismiss with prejudice the complaint it
commenced in the United States District for the Eastern District
of California, Sacramento Division, Case No. 2:10-cv-00802-JAM-
KJN.  ASARCO and the Plan Administrator also agree to withdraw
their joint notice of objection to the Blue Ledge Claim filed in
the bankruptcy case, upon the Settlement becoming effective.

                          About Asarco LLC

Based in Tucson, Arizona, ASARCO LLC -- http://www.asarco.com/--
is an integrated copper mining, smelting and refining company.
Grupo Mexico S.A. de C.V. is ASARCO's ultimate parent.

ASARCO LLC filed for Chapter 11 protection on August 9, 2005
(Bankr. S.D. Tex. Case No. 05-21207).  Attorneys at Baker Botts
L.L.P., and Jordan, Hyden, Womble & Culbreth, P.C., represented
the Debtor in its restructuring efforts.

On December 9, 2009, Grupo Mexico, S.A.B., consummated the Chapter
11 plan that it sponsored for Asarco LLC.  The Plan, which was
confirmed both by the bankruptcy and district courts, reintegrated
Asarco LLC back to parent Grupo Mexico concluding the four-year
Chapter 11 proceeding.

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


ASIAN ART: Working with Lender to Fix Woes; Taps Bankruptcy Atty.
-----------------------------------------------------------------
Jacqueline Palank, writing for Dow Jones' Daily Bankruptcy Review,
reports that the Asian Art Museum's chief finance and operating
officer, Mark McLoughlin, told the San Francisco Chronicle that
officials are working to resolve the museum's financial woes.  The
museum is facing a December 21 expiration of its $120 million
letter of credit from J.P. Morgan Chase.  The museum is preparing
for a meeting this week with city officials and lender J.P. Morgan
Chase.

Ms. Palank notes Mr. McLoughlin told The Wall Street Journal last
week that while the museum has hired a bankruptcy attorney to help
it negotiate with creditors, it doesn't plan to seek bankruptcy
protection.  The Chronicle first floated the possibility of the
museum's bankruptcy in a Nov. 15 article, citing "knowledgeable
sources."

Ms. Palank relates Moody's Investors Service last week put the
museum's private fundraising arm, the Asian Art Museum Foundation,
on watch for a possible downgrade of its credit rating in relation
to its $120.4 million in outstanding variable rate revenue bonds.
According to Moody's, its decision was prompted by the upcoming
expiration of the letter of credit, which supports the bonds.
Moody's says it's concerned about the "likelihood of renewal or
replacement" of the financing agreement.

In a press release last week, the museum blamed its financial
challenges on the economic downturn, which has dried up donations
for numerous cultural and nonprofit organizations and even led to
the bankruptcy filings of some.

DBR notes the city of San Francisco owns the museum building and
its collection of more than 17,000 pieces of art produced in a
6,000-year span.  The assets would be exempted from a bankruptcy
filing by the museum foundation.  The museum foundation owns minor
assets as well as $70 million in endowment money, according to Mr.
McLoughlin.  Together, the city and the museum foundation provide
funding for the museum's staff, facilities and operations; the
museum has an annual operating budget of roughly $17 million.


BANK OF GRANITE: Posts $4.3 Million Net Loss in Q3 2010
-------------------------------------------------------
Bank of Granite Corporation filed its quarterly report on Form
10-Q, reporting a net loss of $4.3 million on $7.4 million of net
interest income for the three months ended September 30, 2010,
compared with a net loss of $3.7 million on $8.2 million of net
interest income for the same period of 2009.

In 2009, Bank of Granite entered into a Stipulation and Consent to
the issuance of an Order to Cease and Desist ("Order") by the
Federal Deposit Insurance Corporation and the North Carolina
Commissioner of Banks.  Based on the Company's Consent, the FDIC
and the Commissioner jointly issued the Order on August 27, 2009.

The Order requires the Bank to achieve and maintain Tier 1
Leverage Capital Ratio of not less than 8 percent and a Total
Risk-Based Capital of not less than 12 percent for the life of the
Order.

"The Bank has not achieved the required capital levels mandated by
the Order," the Company said in the filing.

The Company's balance sheet as of September 30, 2010, showed
$947.1 million in total assets, $918.9 million in total
liabilities, and stockholders' equity of $28.2 million.

Dixon Hughes PLLC, in Charlotte, N.C., 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 the Company incurred net losses in 2009 and 2008,
primarily from higher provisions for loan losses, and that the
Company's wholly-owned bank subsidiary is under a regulatory order
that requires, among other provisions, higher regulatory capital
requirements.

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

               http://researcharchives.com/t/s?6f7d

Granite Falls, N.C.-based Bank of Granite Corporation is a
Delaware corporation that was organized June 1, 1987, as a bank
holding company.  The Company's only businesses are the ownership
and operation of Bank of Granite, a state bank chartered under the
laws of North Carolina on August 2, 1906, and Granite Mortgage,
Inc., a mortgage bank chartered under the laws of North Carolina
on June 24, 1985.  Granite Mortgage discontinued its origination
activities during 2009.

The Company conducts its community banking business operations
from 20 full-service offices located in Burke, Caldwell, Catawba,
Forsyth, Iredell, Mecklenburg, Watauga, and Wilkes counties in
North Carolina.


BERNARD MADOFF: Former Aide to Remain in Federal Custody
--------------------------------------------------------
Sonja Isger, Jane Musgrave and Michael LaForgia, writing for The
Palm Beach Post News, report a magistrate judge ruled Monday that
Annette Bongiorno, 62, who is accused of playing an essential role
in convicted Ponzi schemer Bernard Madoff's $65 billion fraud,
will remain in federal custody until she can prove the assets
pledged to secure her release weren't paid for with stolen money.

The Post News relates Ms. Bongiorno will pay to fly with U.S.
marshals to New York, where she'll face multiple charges of
securities fraud and tax evasion for her purported role in the
Madoff scheme.

According to the Post News, before the ruling by U.S. Magistrate
Judge Ann Vitunac, Ms. Bongiorno's attorney Maurice Sercarz had
argued for Ms. Bongiorno's release on bond.  According to the Post
News, Mr. Sercarz said five of Ms. Bongiorno's friends and family
members were ready to put up $2 million in property and other
assets toward posting a $5 million bond.

Ms. Bongiorno was arrested Thursday, at the same time that another
key Madoff employee, JoAnn "Jodi" Crupi, was taken into custody in
New Jersey.

                       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.


BLACK CROW: GECC Wants to File Competing Plan
---------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that General Electric Capital Corp., the secured lender,
reacted to the reorganization plan proposed by Black Crow Media
Group LLC by filing a motion asking the bankruptcy judge in
Jacksonville, Florida, to terminate the exclusive right of the
Debtor to file a plan.

According to the report, GECC, owed $38.9 million at the outset of
the reorganization in January, contends that the Black Crow plan
can't be confirmed because it violates numerous provisions in
bankruptcy law.  The bankruptcy judge scheduled a preliminary
hearing on Dec. 29.

Black Crow filed a plan on Nov. 8, just as the exclusive right to
propose a reorganization plan was expiring.  Unless exclusivity is
terminated, GECC is precluded from filing a plan of its own until
Jan. 11 when Black Crow's exclusive right to solicit acceptances
runs out.

The Plan, according to Mr. Rochelle, offers alternatives to GECC:

   1.  The first option would allow GECC to take $13 million in
       cash and walk away;

    2. The second option would give GECC a 10-year note for about
       $15.6 million, representing the value of the collateral.
       The note would pay 4% interest and 1% a year in principal,
       plus a portion of excess cash flow.  For the deficiency
       claim, GECC would receive 20% of sale proceeds above
       $3 million; and

    3. If GECC votes against the plan, it would take the second
       option if the judge approves the plan.

Mr. Rochelle adds that the Plan would pay unsecured creditors in
full over five years.  Unsecured claims are less than $700,000.

                         About Black Crow

Daytona Beach, Florida-based Black Crow Media Group, LLC, owns and
operates 17 FM and 5 AM radio stations in Daytona Beach, Live Oak,
Valdosta, Huntsville, Alabama, and Jackson, Tennessee.

Black Crow filed for Chapter 11 protection in January, two days
before a hearing in U.S. district court where GECC was seeking
appointment of a receiver following default on term loans and a
revolving credit.

The Company filed for Chapter 11 bankruptcy protection on
January 11, 2010 (Bankr. M.D. Fla. Case No. 10-00172).  The
Company's affiliates -- Black Crow Media, LLC, et al. -- also
filed separate Chapter 11 petitions.  Mariane L. Dorris, Esq., and
R. Scott Shuker, Esq., at Latham Shuker Eden & Beaudine LLP,
assist the Company in its restructuring effort.  The Company
estimated assets of $10 million to $50 million and debts of $50
million to $100 million in its Chapter 11 petition.


BLUE DOLPHIN: Posts $69,100 Net Loss in September 30 Quarter
------------------------------------------------------------
Blue Dolphin Energy Company filed its quarterly report on Form
10-Q, reporting a net loss of $69,082 on $740,309 of revenue for
the three months ended September 30, 2010, compared with a net
loss of $321,386 on $484,518 of revenue for the same period of
2009.

At September 30, 2010, the Company had an accumulated deficit of
$31.07 million.

The Company's balance sheet as of September 30, 2010, showed
$5.74 million in total assets, $3.12 million in total
liabilities, and stockholders' equity of $2.62 million.

UHY LLP, in Houston, Tex., 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 the
Company has suffered recurring losses and negative cash flows from
operations.

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

               http://researcharchives.com/t/s?6f7b

Houston, Tex.-based Blue Dolphin Energy Company (NASDAQ: BDCO)
-- http://www.blue-dolphin.com/-- is engaged in the gathering and
transportation of natural gas and condensate and production of oil
and gas.


BON-TON STORES: Fitch Affirms Issuer Default Rating at 'B-'
-----------------------------------------------------------
Fitch Ratings has affirmed its ratings on The Bon-Ton Stores,
Inc., including the Issuer Default Rating at 'B-'.  The Rating
Outlook has been revised to Positive from Stable.

The Outlook revision recognizes improvement in the company's
credit metrics and liquidity position over the last 12 months.
Adjusted debt/EBITDAR for the latest 12 month period ended
Oct. 30, 2010, has improved to 5.7 times from 7.0x in the
comparable year ago period, given an improvement in EBITDA and
continued debt paydown with free cash flow.  Fitch expects Bon-Ton
will end the current fiscal year with an adjusted debt/EBITDAR of
5.1x-5.3x (compared to 5.9x at the end of 2009 and 7.6x at the end
of 2008) on EBITDA of $235-245 million and debt pay down of
approximately $70 to $90 million.

For 2011, Fitch is concerned about the potential impact of apparel
cost increases that could rise in the mid-to-high single digit
range due to increases in price of cotton and wage pressures in
China.  As a result, this could pressure EBITDA and leverage could
potentially increase if Bon-Ton is unable to pass some of the cost
increases through higher retails or offset it with cost
efficiencies in areas such as sourcing or improved product mix.
Fitch would expect leverage metrics to be sustained in the low 5x
range to consider a one-notch upgrade.

From a liquidity perspective, at Oct. 30, 2010 Bon-Ton had
$18.4 million in cash and cash equivalents and $387 million
available under its $675 million asset-based revolving credit
facility (after deducting the minimum borrowing availability of
$75 million the company must maintain at all times).  This is a
significant improvement from the $171 million in excess
availability at the end of third quarter of 2009.  Bon-Ton has
maintained excess capacity of over $300 million (after deducting
the $75 million) since the beginning of fiscal 2010 versus a level
of below $100 million for much of the period between March through
September 2009.  Depending on whether the company pays down
borrowings under its credit facility or pays down the $75 million
second lien term loans due November 2013 which currently carries
an interest of 15.75%, Fitch expects credit facility borrowings to
be in the range of $60 million to $140 million at year end (versus
$120 million at the end of 2009).  As a result, the company's
liquidity position is expected to remain strong and Fitch expects
Bon-Ton to continue to pay down debt in 2011 from free cash flow.

The ratings continue to reflect Bon-Ton's high financial leverage
and below industry average comparable store sales trends and
operating profitability.  The company's comparable store sales
trends have been negative for eight of the past 10 years, although
its overall market share of the department store sector has been
relatively stable (with the sector being in a secular decline for
many years).  Fitch expects Bon-Ton's comparable store sales
trends to be in the flat to +1% range going forward, in line with
expectations that the industry will grow +/-1% in 2011 and 2012.
These expectations do not reflect any benefit from potential
retail price increases to pass through any cost inflation.  In
terms of profitability, Bon-Ton's EBITDA margins have improved to
7.8% for the LTM period ending Oct. 30, 2010 from 6.2% in the year
ago period and below 5% in 2008.  However, the company's margins
have typically been 150 to 300 basis points lower than its large
department store peers (excluding luxury) over the past five years
and is currently over 350 basis points lower than investment grade
rated retailers such as Kohl's, J.C. Penney and Macy's.  Bon-Ton
would have to see a sustained improvement in top line growth to
close the margin gap.

The issue ratings are derived from the IDR and the relevant
Recovery Rating, based on Fitch's recovery analysis that places a
liquidation value of just over $900 million under a distressed
scenario.  The $675 million senior secured credit facility due
June 4, 2013 is rated 'BB-/RR1', indicating outstanding (91%-100%)
recovery prospects in a distressed scenario.  The facility is
secured by a first lien on substantially all of the assets of the
borrowing entities and guarantors, except for certain mortgaged
real property supporting the mortgage loan facilities.  Covenants
require a minimum excess availability of $75 million with
limitations on debt, dividends, and capital expenditures.  The
$75 million term loan facility due Nov. 18, 2013 has a second lien
on the assets supporting the credit facility and is also rated
'BB-/RR1'.  The $238 million mortgage loan facility due March 6,
2016, is rated 'B/RR3', indicating good (51%-70%) recovery
prospects in a distressed scenario.

The facility is secured by mortgages on 23 stores and one
distribution center.  These properties are owned by bankruptcy-
remote special purpose entities.  The $510 million of senior
unsecured notes due March 15, 2014 are rated 'CC/RR6', and are
considered to have poor (0%-10%) recovery prospects in a
distressed scenario.

Fitch has affirmed Bon-Ton's ratings with a Positive Outlook:

The Bon-Ton Stores, Inc.

  -- Issuer Default Rating at 'B-'.

The Bon-Ton Department Stores, Inc.

  -- IDR at 'B-';
  -- $675 million senior secured credit facility at 'BB-/RR1';
  -- $75 million second lien term loan facility at 'BB-/RR1';
  -- $510 million senior unsecured notes at 'CC/RR6'.

Bonstores Realty One and Two, LLC

  -- IDR at 'B-';
  -- $238 million mortgage loan facility at 'B/RR3'.


BOS SUPPLY.: Closes Down; Files Chapter 7 Petition
--------------------------------------------------
B.O.S. Better Online Solutions Ltd.'s two U.S. subsidiaries that
are part of its Supply Chain division: BOS Supply Chain Solutions
(Summit) Inc. and its holding company, BOS Supply Chain
Solutions(Lynk) Inc. have filed with the US Bankruptcy Court a
Chapter 7 petition.  As a result, BOS will record an approximate
$660,000 non-cash write-off in the fourth quarter of 2010, but
does not expect any adverse financial impact on its continuing
operations.

Avidan Zelicovski, BOS' president commented: "Summit's operations
and financial condition were adversely affected by the global
economic crisis in the civil aerospace industry, which began in
early 2009, and is still felt today.  Summit ended 2009 with a net
loss of $3 million, and recorded a net loss of $70,000 in the
first nine months of 2010.  Last month, we reported on a
significant reduction of orders from one of Summit's major
customers.  This has led us to examine various alternatives for
Summit in light of a further substantial reduction of Summit's
revenues expected in 2011 and its $3.5 million bank debt.  We
concluded that closing Summit would best serve our existing
profitable and growing Israeli based activities in both the RFID
and Mobile division and the Supply Chain division, which had
generated in the first nine months of 2010 revenues of $9.2
million and $12.5 million, respectively."

Yuval Viner, BOS CEO added: "This act will end the uncertainty
that has surrounded our U.S. Supply Chain operation since our last
announcement.  We are continuing to expand the sales of our RFID
and Mobile solutions, in which our software platform (BOS ID) is a
key element, both in Israel and abroad.  We are in the process of
commercializing BOS ID as an essential tool for system integrators
deploying RFID and other data capture solutions.  In our Supply
Chain division, we plan to work through our Israeli subsidiary to
expand our penetration of international markets, and we continue
to enlist new manufacturer representations.  We anticipate that we
will end the fourth quarter of 2010 and the full year of 2010 with
a net profit, excluding the Summit write-off discussed above."

                          About BOS

B.O.S. Better Online Solutions Ltd. is a leading Israeli provider
of RFID and Supply Chain solutions to global enterprises. BOS'
RFID and Supply Chain offerings are helping customers worldwide
improve the efficiency of their enterprise logistics and
organizational monitoring and control.  BOS' RFID and mobile
division offers both turnkey integration services as well as
stand-alone products, including best-of-breed RFID and AIDC
hardware and communications equipment, BOS middleware, and
industry-specific software applications.  The Company's Supply
Chain division provides RFID and electronic components
consolidation services to the aerospace, defense, medical and
telecommunications industries as well as to enterprise customers
worldwide.


BOSTON GENERATING: Wants Plan Exclusivity Until March
-----------------------------------------------------
Joseph Checkler of Dow Jones' Daily Bankruptcy Review reports that
Boston Generating LLC said it is seeking an extension until March
2011 of its exclusive period to propose a Chapter 11 plan.  The
Company cited complexity of its bankruptcy case and that it's made
"good faith progress" toward exiting Chapter 11.

According to the report, the Company's initial deadline to file a
plan is on Dec. 16, 2010.  The extension of time was filed to
safeguard against the possibility a bankruptcy judge rules against
the Company's sale to Constellation Energy Group Inc.  "Because
the closing of the sale and the resolution of administrative and
priority claims are prerequisites to confirmation of a plan in
these Chapter 11 Cases, the Debtors require additional time to
file and solicit a plan," Mr. Checkler quotes the company as
stating.

A hearing is scheduled for Dec. 7, 2010, to consider the extension
request.

                   About Boston Generating

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

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

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

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

The Official Committee of Unsecured Creditors has tapped the law
firm of Jager Smith P.C. as its counsel.


BUFFALO INN: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Buffalo Inn, Inc.
        1814 West Foothill Boulevard
        Upland, CA 91786

Bankruptcy Case No.: 10-47501

Chapter 11 Petition Date: November 19, 2010

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

Judge: Meredith A. Jury

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

Estimated Assets: $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/cacb10-47501.pdf

The petition was signed by Richard Rinard, president.

Debtor-affiliate that filed separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Richard J. Rinard                     10-46358            11/09/10


BURGENER-CLARK, LLC: Case Summary & 19 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Burgener-Clark, LLC
        4180 La Jolla Village Drive, Suite 315
        La Jolla, CA 92037

Bankruptcy Case No.: 10-20536

Chapter 11 Petition Date: November 19, 2010

Court: U.S. Bankruptcy Court
       Southern District of California (San Diego)

Judge: Laura S. Taylor

Debtor's Counsel: K. Todd Curry, Esq.
                  CURRY & ASSOCIATES
                  525 B. Street, Suite 1500
                  San Diego, CA 92101
                  Tel: (619) 238-0004
                  Fax: (619) 238-0006
                  E-mail: tcurry@currylegal.com

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

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

A list of the Company's 19 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/casb10-20536.pdf

The petition was signed by Craig W. Clark, manager.


CAMBIUM LEARNING: Moody's Assigns 'B2' Corporate Family Rating
--------------------------------------------------------------
Moody's Investors Service assigned a B2 Corporate Family Rating
to Cambium Learning Group, Inc. and a B2 rating to its proposed
$175 million of new senior secured notes.  Concurrently, Moody's
assigned a Speculative Grade Liquidity Rating of SGL-2.  The
ratings outlook is stable.

On November 19, 2010, Cambium announced it intends to offer
$175 million of senior secured notes due 2016 in an offering
pursuant to Rule 144A and enter into a new $40 million asset-based
revolving credit facility (unrated by Moody's).  The company
intends to use the net proceeds from the offering to repay in full
outstanding indebtedness under its subsidiary's existing secured
credit facility and senior unsecured notes, pay related fees and
expenses and for general corporate purposes.  The offering will be
subject to the closing of the new asset-based revolving credit
facility as well as other customary closing conditions.

                        Ratings Rationale

Cambium's B2 CFR reflects the company's solid credit metrics and
good liquidity profile, despite continued funding pressures for
its products and services.  Moody's expects financial leverage and
interest coverage (EBITDA less capex/interest expense) to be
maintained below 4.8 times and above 1.5 times, respectively, over
the medium term.  The ratings are further supported by the
diversity of the company's customer base, in which 87 of the
largest 100 school districts in the US are customers, and no
single customer accounts for more than 5% of sales.  Nonetheless,
Cambium's revenue size is relatively modest and the company
competes against much larger companies in a highly fragmented
industry.  The B2 rating is further constrained by the company's
reliance on federal and state funding of education programs, which
are heavily concentrated in reading and math intervention.  While
Moody's expects funding for intervention products to be stable to
positive over the long-term, current state and local government
budget pressures are not expected to moderate rapidly and the
federal stimulus package is scheduled to expire in September 2011.

The SGL-2 rating reflects Moody's expectations that Cambium will
maintain a good liquidity profile over the next twelve months.
Free cash flow after pre-publication costs is expected to be
positive, with seasonal fluctuations based on typical working
capital needs.  The upsized revolver commitment and maturity
extension further enhance the company's liquidity profile and
Moody's anticipate minimal revolver usage in 2011.  The new
revolver is expected to contain a springing fixed charge covenant
with ample cushion, though it is not expected to spring in the
next four quarters.

The stable outlook incorporates Moody's expectations that the
funding environment will not materially worsen from already weak
levels and Cambium's 2011 consolidated revenue and earnings will
remain fairly flat with 2010.  However, the outlook or ratings
could be pressured if order volume further weakens or the company
makes sizable debt-financed acquisitions such that liquidity
deteriorates and financial leverage is sustained above 5 times.
While unlikely in the near term, the ratings could be raised if
Cambium realizes sustained revenue growth while maintaining a good
liquidity profile, such that interest coverage and free cash flow
to debt are expected to exceed 2 times and 10% on an ongoing
basis.

Moody's assigned these ratings (and LGD point estimate) to Cambium
Learning Group, Inc.:

  -- Corporate Family Rating, B2

  -- Probability of Default Rating, B2

  -- Proposed $175 million senior secured notes due 2016, B2
     (LGD4, 54%)

  -- Speculative Grade Liquidity Rating, SGL-2

Existing ratings at subsidiary Cambium Learning, Inc., will be
withdrawn upon closing of the transaction and ensuing repayment of
outstanding debt obligations.  The ratings for Cambium Learning
Group, Inc. are subject to successful completion of the proposed
transaction and Moody's review of final documentation.  For
additional information, please refer to the Credit Opinion to be
posted on moodys.com.

Cambium's ratings were assigned by evaluating factors Moody's
believe are relevant to the credit profile of the issuer, such as
i) the business risk and competitive position of the company
versus others within its industry, ii) the capital structure and
financial risk of the company, iii) the projected performance of
the company over the near-to-intermediate term, and iv)
management's track record and tolerance for risk.  These
attributes were compared against other issuers both within and
outside of Cambium's core industry and Cambium's ratings are
believed to be comparable to those of other issuers of similar
credit risk.

Headquartered in Dallas, Texas, Cambium Learning Group, Inc.,
provides research-based education solutions for students in Pre-K
through 12th grade, including intervention curricula, educational
technologies and services primarily focused on serving the needs
of the nation's most challenged learners and enabling students to
realize their full potential.  The company reported adjusted
combined revenue in the twelve months ended September 30, 2010 of
approximately $189 million.


CARA OPERATIONS: DBRS Assigns Issuer Rating of 'B'
--------------------------------------------------
DBRS has assigned a provisional Issuer Rating of B to Cara Operations
Limited.  DBRS has assigned a provisional B rating to Cara's proposed
$200 million issue of Senior Secured Second-Lien Notes (the Notes),
based on a RR4 recovery rating.  The Notes will rank behind a proposed
$175 million new credit facility (with a first-priority lien) that will
replace the existing $350 million current credit facility.  The
provisional ratings will be confirmed on the successful completion of
the refinancing plan discussed below.  The ratings will be reassessed if
the refinancing plan is not completed as described.  The Issuer Rating
is supported by the following factors.

Cara is the largest full-service restaurant operator and the third-
largest restaurant operator in Canada.  The Company has transformed
itself over the last six years from a highly diversified food-service
company by divesting most of its non-restaurant businesses, including
Second Cup Limited, Air Terminal Restaurants, Summit Food Service
Distributors and Cara Airline Solutions.  This leaves the family
restaurant operations (679 locations) as the core business.  Cara has
recently centralized the operations to support the five banners: Swiss
Chalet (194), Harvey's (251), Milestones (42), Montana's (88) and
Kelsey's (103).  The restaurant portfolio is mostly in Ontario and the
group offers a diverse set of menus.  Some brands are quite well known,
creating loyalty and equity value.  Using its centralized operating
platform to provide common support functions, the Company is now in a
position to increase the number of restaurants, including locations out
west and in Atlantic Canada.  The expansion plans include the use of
franchisee restaurants to create stable royalty earnings streams and
limit the amount of growth capital needed.  Most new sites will be
leased and the franchisees must fund a large portion of the start-up
costs.  With this, the composition of earnings and cash flow will shift,
with less emphasis on consolidated corporate-owned restaurants and more
on the royalty fees, rents, supplies, etc., it receives from the
franchisees.  The latter type of income tends to be more stable.  In
fact, the Company is currently converting a number of existing
corporate-owned restaurants into franchise sites.  This will be mostly
complete this year.

The Company's efforts to reduce its size and diversification over the
years so that it can focus on a core segment have created long-term
opportunities and short-term challenges.  The key longer-term
opportunity is to take advantage of the fact that there are few
competitors in the restaurant sector that have the same combination of
scale, efficiencies, banner diversification and brand equity.  The
common platform makes it readily scalable, with increasing margins.  The
main near-term concerns pertain to the fact that (1) the divesting has
lowered earnings and cash flow and (2) the funds from the divesting only
partially reduced the leverage incurred when the Company went private in
2004.  This situation will continue over the next several years until
the Company can grow the size of its restaurant base.  This, coupled
with the fact that the remaining core business is quite sensitive to
economic conditions, means that until conditions improve and the base
grows, Cara will have an elevated financial risk profile.  Hence,
maintaining near-term liquidity during this period will remain very
important.  Successful execution of the business plan and managing the
financial risk will require full support from management and the board
of directors.  As a private company, the board is controlled by the
owners.  DBRS has inquired about governance practices and its dividend
policy, and it appears that good governance will continue to be the
norm.

The Notes are part of a larger refinancing plan to revise Cara's capital
structure.  The refinancing includes (1) entering into a new credit
facility that amends and restates the current credit facility (the new
credit facility assumes a successful $200 million Note issue); (2) the
issuance of $200 million in Notes; and (3) the termination of a portion
of existing interest rate swap agreements.  All three are to take place
concurrently on the closing of the Note offering.  This would allow the
Company to repay the current credit facility.


CARLO D'ALELIO: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Joint Debtors: Carlo D'Alelio
               Susan G. Gorra D'Alelio
                fka Susan F. Gorra
               21 Norman Avenue
               Gloucester, MA 01930

Bankruptcy Case No.: 10-22563

Chapter 11 Petition Date: November 18, 2010

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

Judge: Henry J. Boroff

Debtor's Counsel: Timothy M. Mauser, Esq.
                  LAW OFFICE OF TIMOTHY MAUSER, ESQ.
                  Suite 240, One Center Plaza
                  Boston, MA 02114
                  Tel: (617) 338-9080
                  Fax: (617) 275-8990
                  E-mail: tmauser@mauserlaw.com

Scheduled Assets: $862,540

Scheduled Debts: $1,657,801

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/mab10-22563.pdf


CB HOLDING: Organizational Meeting to Form Panel on Nov. 30
-----------------------------------------------------------
Roberta A. DeAngelis, United States Trustee for Region 3, will
hold an organizational meeting on November 30, 2010, at 12:00 p.m.
in the bankruptcy case of CB Holding Corp.  The meeting will be
held at J. Caleb Boggs Federal Building, 844 King Street, Room
5209, Wilmington, DE 19801.

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

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

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

New York-based CB Holding Corp. own and operate the Charlie
Brown's Steakhouse, Bugaboo Steak House, and The Office Beer Bar &
Grill.  The Company currently operates 20 Charlie Brown's
Steakhouse, 12 Bugaboo Creek Steak House and seven The Office.

The Company and its affiliates filed for Chapter 11 bankruptcy
protection on November 17, 2010 (Bankr. D. Del. Case No. 10-
13683).  Christopher M. Samis, Esq., and Mark D. Collins, Esq., at
Richards, Layton & Finger, P.A., assist the Debtors in their
restructuring effort.  The Garden City Group, Inc., is the
Debtors' notice, claims and solicitation agent.  CB Holding
estimated its assets at $100 million to $500 million and debts at
$50 million to $100 million.


CB SETTLE INN: Owner Intends to Keep the Hotels in Business
-----------------------------------------------------------
Ryan Johnson at Grand Forks Herald reports that Dave Graf,
managing member of the Settle Inn & Suites, 1211 N. 47th St., and
the GuestHouse Inn, 710 First Ave. N., in Grand Forks, North
Dakota, said that he refinanced the hotels' mortgages five years
ago with mortgage-backed security loans, but the terms have become
difficult to keep up with after the recession and the accompanying
downturn that's hit the hotel industry.

Mr. Graf, president of CB Settle Inn Limited Partnership, the
entity that controls the hotels, said there are no layoffs or
changes of management planned for the two Grand Forks hotels or
the three other units owned by the Company, according to the
report.

CB Settle Inn Limited Partnership filed for Chapter 11 protection
on October 1, 2010 (Bankr. D. Neb. Case No. 10-82866).
Robert V. Ginn, Esq., at Husch Blackwell Sanders, in Omaha,
Nebraska, serves as counsel.  The Debtor estimated assets and
debts of $1,000,001 to $10,000,000.  A list of the Company's 15
largest unsecured creditors filed together with the petition is
available for free at http://bankrupt.com/misc/neb10-82866.pdf

Bellevue Settle Inn Limited Partnership filed a separate Chapter
11 petition (Bankr. D. Neb. Case No. 10-82865).


CELL THERAPEUTICS: In Talks with 2 Funds for $150MM Investment
--------------------------------------------------------------
Members of the management team of Cell Therapeutics Inc. held a
presentation for investors and analysts in Milan, Italy, on
November 18, 2010.

Cell Therapeutics told investors that it has many attractive
undervalued and under-resourced late-stage assets or technology
platforms.

It added that several large institutional funds preliminarily
interested in putting money to work behind CTI's proven
acquisition track record.

According to Cell Therapeutics, it is in preliminary discussions
with two funds interested in committing up to $75 million each at
any time over two years for targeted acquisitions or licensing
transactions.

A full-text copy of the Slide Presentation is available for free
at http://ResearchArchives.com/t/s?6f7a

                     About Cell Therapeutics

Headquartered in Seattle, Washington, Cell Therapeutics, Inc.
(NASDAQ and MTA: CTIC) -- http://www.CellTherapeutics.com/-- is a
biopharmaceutical company committed to developing an integrated
portfolio of oncology products aimed at making cancer more
treatable.

The Company's balance sheet at September 30, 2010, showed
$46.6 million in total assets, $38.9 million in total liabilities,
$13.4 million in common stock purchase warrants, and a
stockholders' deficit of $5.7 million.

Stonefield Josephson, Inc., in San Francisco, 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 that the Company has sustained loss
from operations, incurred an accumulated deficit, and has
substantial monetary liabilities in excess of monetary assets as
of December 31, 2009.


CENTRAL WAYNE ENERGY: Dispute on $11.2MM COSI Claim Continues
-------------------------------------------------------------
The Hon. James F. Schneider signed off on a Stipulation and Order
extending the time to oppose or otherwise respond to the objection
of the Liquidating Committee designated by the Official Committee
of Unsecured Creditors in the bankruptcy case of Central Wayne
Energy Recovery Limited Partnership to Claim No. 91-1 filed by
COSI Central Wayne, Inc.

COSI and the Debtor were parties to a Management, Operation &
Maintenance Agreement dated January 28, 1998.  The Operating
Agreement is among the contracts the Debtor rejected in December
2004.  On January 7, 2005, COSI filed Claim No. 91-1 for
$11,264,456 based on the Debtor's rejection of the Operating
Agreement.

On October 20, 2010 the Liquidating Committee filed an objection
to Claim Nos. 91-1.  COSI's response to the Objection is due
November 19, 2010.

The parties are engaged in good faith settlement discussions which
may result in a resolution of the Objection without further
litigation.

Pursuant to the Stipulation, COSI's time to oppose or otherwise
respond to the Objection is extended to December 3, 2010.

A copy of the Stipulation and Order, dated November 19, 2010, is
available at http://is.gd/hDloBfrom Leagle.com.

COSI Central Wayne is represented by:

           Susan J. Klein, Esq.
           GORDON, FEINBLATT, ROTHMAN, HOFFBERGER & HOLLANDER, LLC
           233 E. Redwood Street
           Baltimore, MD 21202
           Telephone: (410) 576-4137
           Facsimile: (410) 576-4040
           E-mail: sklein@gfrlaw.com

The Liquidating Committee is represented by:

           Thomas D. Renda, Esq.
           MILES & STOCKBRIDGE, P.C.
           10 Light Street
           Baltimore, MD 21202
           Telephone: (410) 385-3418
           Facsimile: (410) 385-3700
           E-mail: trenda@milesstockbridge.com

                About Central Wayne Energy Recovery

Headquartered in Baltimore, Maryland, Central Wayne Energy
Recovery LP owned a waste-to-energy system facility that converts
the heat energy generated by incinerating waste to electricity.
The Company filed for chapter 11 protection (Bankr. D. Md. Case
No. 03-82780) on December 29, 2003.  Maria Chavez Ruark, Esq.,
Piper Rudnick LLP, represented the Debtor.  When the Company filed
for protection from its creditors, it listed more than $10 million
in assets and more than $100 million in debts.  As reported by the
Troubled Company Reporter on December 22, 2005, the U.S.
Bankruptcy Court for the District of Maryland confirmed Central
Wayne Energy Recovery LP's First Amended Plan of Liquidation.


CHANCELLOR'S PARK: Case Summary & 7 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Chancellor's Park, LLC
        dba Sterling Park Apartments
        1722-A Sherwood Street
        Greensboro, NC 27403

Bankruptcy Case No.: 10-12120

Chapter 11 Petition Date: November 18, 2010

Court: United States Bankruptcy Court
       Middle District of North Carolina (Greensboro)

Debtor's Counsel: Dirk W. Siegmund, Esq.
                  IVEY, MCCLELLAN, GATTON, & TALCOTT, LLP
                  Suite 500, 100 S. Elm St.
                  P.O. Box 3324
                  Greensboro, NC 27402-3324
                  Tel: (336) 274-4658
                  Fax: (336) 274-4540
                  E-mail: dws@imgt-law.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 seven largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ncmb10-12120.pdf

The petition was signed by Allen R. Sharpe, manager/member.


CHARDON RUBBER: PBGC Assumes Underfunded Pension Plan
-----------------------------------------------------
The Pension Benefit Guaranty Corporation assumed responsibility
for the underfunded pension plan covering more than 840 former
workers and retirees of Chardon Rubber Co., a designer and
manufacturer of rubber and plastic components based in Chardon,
Ohio.

The PBGC stepped in because Chardon Rubber has sold substantially
all of its assets in bankruptcy proceedings and there will be no
sponsor left to fund or administer the plan. Retirees will
continue to receive their monthly benefit payments without
interruption, and other workers will receive their pensions when
they are eligible to retire.

According to PBGC estimates, the Chardon Rubber Company
Retirement Plan is 57% funded, with assets of $16.8 million to
cover $29.5 million in benefit liabilities.  The PBGC expects to
be responsible for $12.4 million of the $12.7 million shortfall.

The PBGC will take over the assets and use insurance funds to
pay guaranteed benefits earned under the plan.  The plan ended on
Dec. 31, 2009, and the agency assumed responsibility for the plan
on Sept. 23, 2010.

Within the next several weeks, the PBGC will send notification
letters to all participants in the Chardon Rubber plan. Under
provisions of the Pension Protection Act of 2006, the maximum
guaranteed pension the PBGC can pay is determined by the legal
limits in force on the date of the plan sponsor's bankruptcy.
Therefore participants in the plan are subject to the limits in
effect when Chardon Rubber filed for bankruptcy protection on
May 15, 2009, which set a maximum guaranteed amount of $54,000 per
year for a 65-year-old.

The maximum guaranteed amount is lower for those who retire
earlier or elect survivor benefits. In addition, certain early
retirement subsidies and benefit increases made within the five
years immediately before the May 15, 2009 bankruptcy date may not
be fully guaranteed.

Chardon Rubber was founded in 1978 and offered mixing, molding,
rubber extruding, forming and engineering services to the
transportation, appliance, custom mixing and construction sectors.
The company experienced declining sales in 2007 and was unable to
complete restructuring efforts due to the downturn in the real
estate and credit markets in 2008.  After entering into a sale
agreement with Westinghouse Air Brake Technologies Corp., Chardon
Rubber filed for Chapter 11 protection in the U.S. Bankruptcy
Court in Cleveland, Ohio.

Workers and retirees with questions may consult the PBGC Web site,
http://www.pbgc.gov/or call toll-free at 1-800-400-7242.  For
TTY/TDD users, call the federal relay service toll-free at
1-800-877-8339 and ask for 800-400-7242.

Chardon Rubber retirees who draw a benefit from the PBGC may be
eligible for the federal Health Coverage Tax Credit.  Further
information may be found on the PBGC Web site at
http://www.pbgc.gov/workers-retirees/benefits-
information/content/page13692.html

Assumption of the plan's unfunded liabilities will increase the
PBGC's claims and was not previously included in the agency's
fiscal year 2009 financial statements.

The PBGC is a federal corporation created under the Employee
Retirement Income Security Act of 1974. It currently guarantees
payment of basic pension benefits earned by 44 million American
workers and retirees participating in over 29,000 private-sector
defined benefit pension plans. The agency receives no funds from
general tax revenues.  Operations are financed largely by
insurance premiums paid by companies that sponsor pension plans
and by investment returns.

                       About Chardon Rubber

Chardon Rubber Co. was founded in 1978 and offered mixing,
molding, rubber extruding, forming and engineering services to the
transportation, appliance, custom mixing and construction sectors.
The company experienced declining sales in 2007 and was unable to
complete restructuring efforts due to the downturn in the real
estate and credit markets in 2008.  After entering into a sale
agreement with Westinghouse Air Brake Technologies Corp., Chardon
Rubber filed for Chapter 11 protection (Bankr. N.D. Ohio Case No.
09-14348) on May 15, 2009, in Cleveland.

As reported by the Troubled Company Reporter on May 20, 2009, Bill
Rochelle, bankruptcy columnist at Bloomberg News, said Chardon
Rubber had a deal to sell all assets to Westinghouse for $3.87
million.

Judge Pat E. Morgenstern-Clarren handled the case. Jean Robertson,
Esq., at Calfee, Halter & Griswold LLC, served as the Debtor's
counsel.  The Company estimated $1 million to $10 million in
assets, and $10 million to $50 million in debts.  Bloomberg,
citing court documents, said Chardon owed $2.2 million to the
first-lien bank lender and another $300,000 on a second-lien
claim.  Trade suppliers were owed $2.5 million.


CHINATEL GROUP: Has Deal for Control of 34,000-KM Cable in China
----------------------------------------------------------------
ChinaTel Group Inc. has entered into two related stock
subscription and shareholder agreements with Shanghai Ying Yue
Network Technology Ltd and Azur Capital under which ChinaTel will
control approximately 34,000 kilometers of fiber optic cable that
connects all major population centers within the People's Republic
of China.

ChinaTel said it is investing 9 million shares of its Series A
common stock and financing $7 million towards equipment and
services sufficient to upgrade the first 9,000 km of the fiber for
transmission of data to a 100GB standard.

The business model of the new venture is to charge tariffs to
telecommunications operators, meeting the growing demand for
increased data transmission capacity as networks evolve to 4G
platforms.  ChinaTel will use the fiber for its own wireless
broadband projects, and the venture will sell excess capacity to
other operators.

"This acquisition will allow ChinaTel to control its own destiny
as to all its current and future broadband operations in China,"
observed ChinaTel's CEO George Alvarez.  "A fiber backbone network
is the central nervous system that supports the last mile wireless
solutions ChinaTel is deploying.  Transport and interconnection
fees typically represent 20-35% of total network operating costs.
ChinaTel has not only secured control over one of the major costs
of the networks it will operate as a joint venture partner, but
has also created a revenue source that is independent of those
relationships, through the sale of excess data transmission
capacity to other operators, including major incumbent operators
such as China Mobile, China Unicom and China Telecom, other 3.5
GHz wireless operators, and other ISP license holders."

ChinaTel will begin work immediately on the engineering needed to
develop a request for proposal so that an equipment contract for
the first 9,000 km can be awarded.  ChinaTel expects to award the
contract to ZTE Corporation, who will finance 85% of the equipment
under the global strategic partnership between ChinaTel and ZTE.
The cost to upgrade the balance of the 34,000 km of backbone fiber
is expected to be paid for out of transport fee revenues from the
first 9,000 km.  In addition to the nationwide backbone, YYNT owns
and has granted the venture an option to purchase metro rings of
fiber in many major metropolitan areas.

The transaction has been structured with a goal to allow ChinaTel
to report the results of the venture's operations on ChinaTel's
consolidated financial statements in the same manner as its other
subsidiaries.  ChinaTel will own 49% of the PRC-based company that
will own the fiber, but will control that entity's board of
directors.  YYNT will have the right to appoint all five
directors, three of whom will irrevocably be at the request of
ChinaTel.  ChinaTel will also own 51% of a Cayman Islands-based
parent company and its PRC-based subsidiary, a wholly foreign
owned enterprise that will contractually be entitled to 100% of
the net economic benefit of the venture.  The total value of all
parties' capital contributions is $40.5 million.  ChinaTel expects
to recoup the value of its $20.5 million investment through
redemption of preferred shares the Cayman parent company will
issue.

                         About China Tel

Based in San Diego, California, and Shenzhen, China, China Tel
Group, Inc. (OTC BB: CHTL) -- http://www.ChinaTelGroup.com/--
provides high speed wireless broadband and telecommunications
infrastructure engineering and construction services.  Through its
controlled subsidiaries, the Company provides fixed telephony,
conventional long distance, high-speed wireless broadband and
telecommunications infrastructure engineering and construction
services.  ChinaTel is presently building, operating and deploying
networks in Asia and South America: a 3.5GHz wireless broadband
system in 29 cities across the People's Republic of China with and
for CECT-Chinacomm Communications Co., Ltd., a PRC company that
holds a license to build the high speed wireless broadband system;
and a 2.5GHz wireless broadband system in cities across Peru with
and for Perusat, S.A., a Peruvian company that holds a license to
build high speed wireless broadband systems.

The Company's balance sheet at June 30, 2010, showed $8.9 million
in total assets, $26.2 million in total liabilities, and a
stockholders' deficit of $17.3 million.

Mendoza Berger & Company, LLP, in Irvine, 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 that the Company has incurred a net
loss of $56.0 million for 2009, cumulative losses of
$165.4 million since inception, a negative working capital of
$68.8 million and a stockholders' deficit of $63.2 million, and
that the Company's viability is dependent upon its ability to
obtain future financing and the success of its future operations.


CHIP IN: Case Summary & 4 Largest Unsecured Creditors
-----------------------------------------------------
Debtor: Chip In, LLC
        8400 Old Statesville Road
        Charlotte, NC 28269

Bankruptcy Case No.: 10-33427

Chapter 11 Petition Date: November 18, 2010

Court: United States Bankruptcy Court
       Western District of North Carolina (Charlotte)

Judge: J. Craig Whitley

Debtor's Counsel: James H. Henderson, Esq.
                  JAMES H. HENDERSON, P.C.
                  1201 Harding Place
                  Charlotte, NC 28204-2248
                  Tel: (704) 333-3444
                  Fax: (704) 333-5003
                  E-mail: henderson@title11.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 four largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ncwb10-33427.pdf

The petition was signed by J. Michael Granger, manager.


CKPS INTERNATIONAL: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: CKPS International Foods LLC
        3317 Buford Highway, Suite 410
        Atlanta, GA 30329

Bankruptcy Case No.: 10-94778

Chapter 11 Petition Date: November 19, 2010

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

Debtor's Counsel: Stephen F. Suarino, Esq.
                  SUARINO LAW, PC
                  Suite 140, 1770 Indian Trail-Lilburn Rd.
                  Norcross, GA 30093
                  Tel: (678) 597-1388
                  Fax: (678) 597-1190
                  E-mail: attorney@suarinolaw.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/ganb10-94778.pdf

The petition was signed by Kyung Taik Kim, managing member.


CLEAR CHANNEL: Fitch Assigns 'CCC' Issuer Default Rating
--------------------------------------------------------
Fitch Ratings has assigned initial ratings for Clear Channel
Communications, Inc. and Clear Channel Worldwide Holdings, Inc.
CCWW is an indirect wholly owned subsidiary of Clear Channel
Outdoor Holdings, Inc., Clear Channel's 89% owned subsidiary that
houses the domestic and international outdoor advertising
operations.  The ratings are:

Clear Channel

  -- Long-term Issuer Default Rating at 'CCC';

  -- Senior secured term loans and senior secured revolving credit
     facility at 'CCC/RR4';

  -- Senior unsecured leveraged buyout notes at 'C/RR6';

  -- Senior unsecured legacy notes at 'C/RR6'.

CCWW

  -- Long-term IDR at 'B';
  -- Senior unsecured notes at 'BB-/RR2'.

The Rating Outlook is Stable.

Fitch's ratings concerns center on the company's highly leveraged
capital structure, with significant maturities in 2014 and 2016;
the considerable interest burden that pressures free cash flow
generation; technological threats and secular pressures in radio
broadcasting; and the company's exposure to cyclical advertising
revenue.  The ratings are supported by the company's leading
position in both the outdoor and radio industries, as well as the
positive fundamentals and digital opportunities in the outdoor
advertising space.

The July 2008 LBO left Clear Channel very highly leveraged, and
Fitch estimates that total debt/latest 12 months EBITDA was 12.8
times at Sept. 30, 2010, with secured leverage of 8.8x.  These
metrics are substantially worse than they were at the LBO (Fitch
estimates approximately 9x and 6x for total and secured leverage,
respectively), with the majority of the deterioration due to the
decline in operating profits experienced during the economic
downturn.  The company is currently in a significantly weaker
position from which to grow into its capital structure and address
its maturities.

Fitch believes that Clear Channel's current liquidity position
will enable it to repay the $1.7 billion of debt maturing through
2013, most of which is unsecured notes that were issued prior to
the LBO.  The company can handle these maturities through a
combination of accessible cash on hand as well as dividends from
CCOH.  Excluding $665 million of cash held at CCOH as well as
$254 million of CCOH funds swept to Clear Channel for cash
management purposes (which are due to CCOH on demand), Clear
Channel had $782 million of cash at Sept. 30.  CCOH can currently
dividend $500 million of cash to its shareholders under the CCWW
indenture.  Further, under the provision that CCWW can issue
subordinated debt and dividend the proceeds to CCOH shareholders
if total leverage remains below 6.0x, Fitch estimates that Clear
Channel could currently receive $1.4 billion.  Fitch assumes that
Clear Channel's secured lenders and LBO note holders would be
willing to amend their loan provision to allow such debt issuance.
Other sources of liquidity are minimal - most free cash flow is at
CCOH, given Clear Channel's significant interest burden, and the
RCF and ABL facilities are fully drawn.

Clear Channel faces significantly larger challenges in addressing
its capital structure beginning in 2014.  There are significant
maturity walls in 2014 and 2016 of $3.7 billion and $12.5 billion,
respectively, with the majority of it bank loans.  Given the
absolute dollar amount as well as Clear Channel's weak credit
profile, Fitch believes it could prove difficult for the company
to successfully meet these maturities.  There are several routes
the company can take to address these maturities, discussed below.

  -- Cash repayment will be minimal; Fitch expects cumulative free
     cash flow of no more than $500 million through 2013, most of
     it at the CCOH level.

  -- Clear Channel may be able to refinance a small portion of its
     debt in the high yield market, although it could prove
     difficult to find willing lenders beyond 2016.

  -- The company could work with its bank lenders to amend and
     extend the maturity of a portion of the term loans and RCF,
     reducing the 2014/2016 wall and allowing CCU more time to
     grow, cut costs, and delever.  This would also result in
     materially higher interest expense, eating further into the
     company's already limited free cash flow.

  -- CCOH could make more debt-funded dividends, given Fitch's
     expectations for ongoing EBITDA expansion in the outdoor
     segment.  As stated, Fitch believes Clear Channel's creditors
     would consent to this.  Fitch believes Clear Channel could
     receive nearly $1 billion of incremental cash, assuming
     expected EBITDA growth materializes.

  -- Clear Channel could look to extend and reduce the $1.5
     billion of legacy notes that mature after 2013 via a coercive
     debt exchange.  While this does not help the company get past
     the bank maturities, it could be a bank requirement for
     an amend/extend.

  -- Sales of non-core radio stations in smaller markets could
     bring proceeds of a few hundred million dollars.

  -- Fitch does not believe an IPO or another exit strategy is
     currently a viable option, given Clear Channel's leverage and
     current market multiples. Significant deleveraging would have
     to occur before an exit strategy is likely.

In Fitch's view, there is a scenario where the company employs
several, if not all, of these alternatives, which enable it to
successfully address its 2014 and 2016 maturities.  However, this
scenario involves some fairly aggressive assumptions and several
events going in the company's favor, particularly with regards to
the 2016 wall.  If the scenario does not play out as such, Fitch
believes a default is a real possibility.

The key to Clear Channel's success in managing these maturities is
the amount of flexibility provided by the bank lenders.  This will
depend on Clear Channel's ability to reduce secured leverage to a
level where the banks would be willing to recommit capital.  Fitch
believes that this level is likely below 6x, as this is where the
banks originally lent during the credit boom, as well as the
challenges associated with the final funding/closing of the deal.
Additionally, the banks would have to believe that any leeway
would provide Clear Channel with the ability to improve its
capital structure, not merely prolonging the inevitable.  If the
lenders do not think the improvement will materialize, Fitch
believes that they would prefer to seek value from recovery as
soon as possible.

The ratings at CCOH incorporate Fitch's favorable outlook on the
outdoor industry and CCOH's position within it.  The ratings also
consider Fitch's expectations that total leverage is likely to
migrate towards 6x over the next several years as CCU seeks to
maximize its cash from the subsidiary.  The ratings also
incorporate the legal provisions that separate the two entities
and protect the subsidiary, including dividend restrictions, lack
of guarantee, and CCOH protection from a CCU default.  However,
there are strong operational ties to the weaker parent, including
centralized treasury and senior management overlap.  Additionally,
the parent can pull cash out of the sub (with restrictions), which
it will rely on to service a portion of its debt.

Clear Channel's radio business (49% of revenue and 59% of segment
EBITDA) benefits from its position as the largest terrestrial
radio broadcaster in the U.S. Fitch believes that most of the
operating weakness in 2009 was cyclical, as evidenced by the
strong recovery seen in 2010.  That said, Clear Channel is subject
to the same secular challenges facing the entire radio industry,
specifically, modest secular declines in listenership driven by
the proliferation of alternative sources of entertainment.  While
Fitch does not expect massive audience or revenue declines, these
dynamics will likely pressure advertising revenue growth, and
could eventually weigh on margins.  However, given the high EBITDA
margins and low capex requirements associated with the radio
business, there is significant headroom to absorb these pressures
while remaining profitable.

Clear Channel (via its ownership of CCOH) is also the largest
player in Outdoor (48% of revenue, 38% of segment EBITDA) and
benefits from scale as well as a diverse global presence.  Fitch's
bullish view on outdoor is driven by the industry's relative
immunity to audience fragmentation, given a captive audience and a
low price point relative to other forms of advertising.
Regulation provides an additional benefit for incumbents by
serving as a barrier to entry.  As outdoor is a lagging industry,
Fitch expects the cyclical recovery to continue into 2011.  Over
the longer term, Fitch expects outdoor to take share from other
forms of local advertising that are under secular pressure, such
as newspaper, yellow pages, and lower rated TV and radio stations.
Fitch expects low/mid single digit top line growth and margin
expansion from operating leverage, recent contract restructuring
and inventory rationalization, as well as nascent but growing
digital opportunities, to drive high single digit EBITDA growth
going forward.

Consolidated debt at Sept. 30, 2010, was $21.2 billion.  Debt held
at Clear Channel was $18.6 billion and consisted primarily of:

  -- $1.1 billion secured term loan A, maturing July 2014;

  -- $9.1 billion secured term loan B, maturing January 2016;

  -- $696 million secured term loan C (asset sale facility)
     maturing January 2016;

  -- $1 billion secured delayed draw term loan, maturing January
     2016;

  -- $1.8 billion outstanding under the $2 billion secured RCF,
     maturing July 2014;

  -- $354 million outstanding under the secured ABL facility,
     maturing July 2014;

  -- $796 million senior unsecured cash pay notes, maturing August
     2016;

  -- $830 million senior unsecured PIK toggle notes, maturing
     August 2016; and

  -- $2.9 billion senior unsecured legacy notes, with maturities
     of 2011-2027.

The bank debt and the LBO notes (cash pay and PIK) are guaranteed
by Clear Channel Capital I (holding company of Clear Channel), and
by Clear Channel's wholly owned domestic subsidiaries.  There is
no guarantee from CCOH or its subsidiaries.  The legacy notes are
not guaranteed.  The term loans, RCF and ABL facility are secured
by the capital stock of Clear Channel; Clear Channel's non-
broadcasting assets ('non principal property'), and a second
priority lien on the broadcasting receivables that securitize the
ABL facility.  The 'principal property' assets of Clear Channel
(domestic radio broadcasting property, including any proceeds from
the sale of FCC licenses) cannot be pledged as collateral until
the legacy notes are retired.  Therefore, in Fitch's view the
collateral package is not overly valuable.  However, the bank
debt's guarantee is contractually senior to that of the LBO notes,
as well as any future guaranteed debt, and as a result, this debt
is still first in line.

There was approximately $2.6 billion of debt at CCWW at Sept. 30,
consisting primarily of:

  -- $500 million series A senior unsecured notes, maturing
     December 2018; and

  -- $2 billion series B senior unsecured notes, maturing December
     2018.

The notes are guaranteed by CCOH, Clear Channel Outdoor, Inc., a
wholly owned subsidiary of CCOH, and the majority of the domestic
operating subsidiaries of CCOH.

Clear Channel's Recovery Ratings reflect Fitch's expectation that
the enterprise value of the company, and hence, recovery rates for
its creditors, will be maximized in a restructuring scenario
(going concern), rather than a liquidation.  Fitch employs a 6x
distressed enterprise value multiple reflecting the value of the
company's radio broadcasting licenses in top U.S. markets.  Fitch
applies a 25% discount (approximately the level at which the
company would breach its consolidated senior leverage covenant) to
Sept. 30, 2010 LTM Radio EBITDA.  Additionally, Fitch assumes that
Clear Channel would receive 89% of the value of a sale of CCOH
after the CCOH creditors had been repaid.  Fitch estimates the
adjusted distressed enterprise valuation in restructuring to be
approximately $5.6 billion.  Fitch also assumes that in a
bankruptcy scenario that Clear Channel has maximized the debt-
funded dividends from CCOH and used the proceeds to repay bank
debt.  The 'CCC' rating for the bank debt reflects Fitch's
expectations for recovery near the middle of the 31%-50% range
under a bankruptcy scenario.  The 'C' rating on the senior
unsecured legacy and LBO notes reflects Fitch's expectations for
minimal recovery prospects due to their position below the banks
in the capital structure.

CCOH's Recovery Ratings also reflect Fitch's expectation that
enterprise value would be maximized as a going concern.  Fitch
stresses outdoor EBITDA by 35%, to approximately the level where
the company could not cover its fixed charges, and applies a 7x
valuation multiple.  Fitch estimates the enterprise value would be
$2.6 billion.  Although this indicates recovery of near 100% for
the CCOH notes, Fitch notches the debt up two notches from the IDR
given the unsecured nature of the debt.


CNOSSEN DAIRY: Taps J. Bennett as Bankruptcy Counsel
----------------------------------------------------
Cnossen Dairy asks for authorization from the U.S. Bankruptcy
Court for the Northern District of Texas to employ J. Bennett
White, P.C., as bankruptcy counsel.

The Firm will:

     (a) give the Debtor legal advice with respect to its powers
         and duties as debtor-in-possession in the continued
         operation of the business and management of property;

     (b) prepare applications, answers, orders, pleadings,
         reports, and other legal papers; and

     (c) perform all other legal services for Debtor as debtor-in-
         possession which may be necessary herein.

The Firm will be paid based on the rates of its professionals:

         J. Bennett White                      $250
         Other Attorneys                    $175-$200

J. Bennett White, Esq., an attorney at the Firm assures the
Court that the firm is a "disinterested person" as that term
defined in Section 101(14) of the Bankruptcy Code.

Hereford, Texas-based Cnossen Dairy filed for Chapter 11
bankruptcy protection on November 12, 2010 (Bankr. N.D. Tex. Case
No. 10-20760).  J. Bennett White, Esq., at J. Bennett White, P.C.,
is serving as bankruptcy counsel to the Debtor.  Templeton,
Smithee, Hayes, Heinrich & Russell, LLP, is the local counsel.

The Debtor estimated its assets and debts at $50 million to $100
million.


CNOSSEN DAIRY: Wants Filing of Schedules Extended Until Dec. 6
--------------------------------------------------------------
Cnossen Dairy asks the U.S. Bankruptcy Court for the Northern
District of Texas to extend the deadline for the filing of
schedules of assets and liabilities and statement of financial
affairs until December 6, 2010.

The Schedules and the Statement are to be filed within 14 days, or
by November 26, 2010.

The Debtor says that it needs the extension because its counsel is
scheduled to be out of the country from November 20, 2010, until
November 28, 2010.  Its counsel will be relocating its office the
week of November 29, 2010.

J. Bennett White, Esq., an attorney at the Firm assures the
Court that the firm is a "disinterested person" as that term
defined in Section 101(14) of the Bankruptcy Code.

Hereford, Texas-based Cnossen Dairy filed for Chapter 11
bankruptcy protection on November 12, 2010 (Bankr. N.D. Tex. Case
No. 10-20760).  J. Bennett White, Esq., at J. Bennett White, P.C.,
is serving as bankruptcy counsel to the Debtor.  Templeton,
Smithee, Hayes, Heinrich & Russell, LLP, is the local counsel.

The Debtor estimated its assets and debts at $50 million to $100
million.


CNOSSEN DAIRY: Wants to Hire Templeton Smithee as Local Counsel
---------------------------------------------------------------
Cnossen Dairy asks for authorization from the U.S. Bankruptcy
Court for the Northern District of Texas to employ Templeton,
Smithee, Hayes, Heinrich & Russell, LLP, as its local counsel.

Templeton Smithee will:

     a. assist as local counsel in representing the Debtor in its
        Chapter 11 case and to advise the Debtor as to its rights,
        duties and powers as debtors in possession;

     b. assist in representing the Debtor at hearings, meetings of
        creditors, conferences, trials, and other proceedings in
        their case; and

     c. to perform such other legal services as may be necessary
        in connection with their case.

The Firm will assist J. Bennett White, P.C., the Debtor's proposed
bankruptcy counsel.

Templeton Smithee will be paid based on the rates of its
professionals:

        Coleman Young                 $250
        Tamme Aureli, Paralegal        $75

Coleman Young, Esq., an attorney at Templeton Smithee, assures the
Court that the firm is a "disinterested person" as that term
defined in Section 101(14) of the Bankruptcy Code.

Hereford, Texas-based Cnossen Dairy filed for Chapter 11
bankruptcy protection on November 12, 2010 (Bankr. N.D. Tex. Case
No. 10-20760).  Templeton, Smithee, Hayes, Heinrich & Russell,
LLP, is the local counsel.  The Debtor estimated its assets and
debts at $50 million to $100 million.

The Debtor estimated its assets and debts at $50 million to $100
million.


CONSPIRACY ENTERTAINMENT: Delays Filing of Form 10-Q for Q3
-----------------------------------------------------------
Conspiracy Entertainment Holdings Inc. said it could not timely
file its quarterly report on Form 10-Q with the Securities and
Exchange Commission because the compilation, dissemination and
review of the information required to be presented in the report
for the relevant period has imposed time constraints that have
rendered timely filing of the Form 10-Q impracticable without
undue hardship and expense to the Company.

The Troubled Company Reporter on September 1, 2010, reported that
Conspiracy Entertainment posted net income of $19,374 on $2.5
million of revenue for the three months ended June 30, 2010,
compared to a net loss of $1.7 million on $755,223 of revenue for
the same period of 2009.

The Company's balance sheet at June 30, 2010, showed $4.7 million
in total assets, $9.4 million in total liabilities, and a
stockholders' deficit of $4.7 million.

                   About Conspiracy Entertainment

Conspiracy Entertainment Holdings, Inc. (OTC BB: CPYE) through its
wholly owned subsidiary, Conspiracy Entertainment Corporation, is
a developer, publisher and marketer of entertainment software in
North America and Western Europe.  Conspiracy Entertainment was
founded in 1997 and is based in Santa Monica, California.


CPG INT'L: Moody's Gives Positive Outlook; Keeps Caa1 Note Ratings
------------------------------------------------------------------
Moody's Investors Service has changed the rating outlook of CPG
International I Inc. to positive from stable to reflect its
improved operating performance and declining leverage.  At the
same time, Moody's lowered the speculative grade liquidity rating
to SGL-3 from SGL-2 due to the nearing maturity of its asset based
lending facility as early as January 2012.

These ratings were affirmed:

  -- Corporate Family Rating at B3;

  -- Probability of Default Rating at B3,

  -- The Caa1 (LGD4, 59% from 61%) on the $150 million senior
     unsecured notes due July 2013; and

  -- The Caa1 (LGD4, 59% from 61%) on the $128 million senior
     unsecured notes due July 2012

The positive outlook is reflective of CPG's ability to gain market
share within its AZEK and Scranton product lines despite weakness
in the North American residential and commercial building markets,
grow its revenue base and enhance profitability over the past few
quarters.  While earnings volatility is inherent in the business,
due to both its exposure to resin costs and to seasonal order
trends, Moody's anticipates that CPG will continue to benefit from
the ongoing conversion to their low maintenance products for
exterior housing applications from traditional wood and metal
products.  Moody's expects this trend to support the company's
improved credit metrics over the ratings horizon.

Despite Moody's favorable outlook for CPG's operating performance,
the SGL-3 reflects the possibility that the maturity of CPG's
$65 million asset based lending facility could come due in January
2012 if the $128 million senior unsecured notes are not
refinanced.  The January 2012 maturity would precede the April
2012 maturity of its $25 million term loan and July 2012 maturity
of the $128 million senior unsecured notes.  While these
maturities will increase CPG's refinancing risk as they near,
Moody's notes that high cash balances and ongoing cash generation
should support CPG's liquidity profile over the next twelve
months.

The ratings could be upgraded over the near term if the
refinancing needs were addressed and CPG maintained its
conservative financial profile, including adjusted leverage below
5.0x.  While Moody's does not currently expect a downgrade over
the near term, ratings momentum will likely be tempered as the
maturities approach or if liquidity deteriorates further.
Leverage exceeding 6.0x for an extended period or material debt
financed acquisitions could result in ratings and/or outlook
pressure.

The last rating action on CPG was the May 19, 2009, downgrade of
the CFR to B3 from B2.

CPG, headquartered in Scranton, Pennsylvania, is a manufacturer
and fabricator of engineered and branded synthetic products
designed to replace wood and metal in a variety of building
materials and industrial applications.  Sales for the twelve
months ended September 30, 2010, were approximately $325 million.


CU PHAN: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------
Debtor: Cu Ngoc Phan
        1 Nightshore
        Newport Beach, CA 92657
        Tel: (949) 633-6987

Bankruptcy Case No.: 10-26527

Chapter 11 Petition Date: November 19, 2010

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

Judge: Robert N. Kwan

Debtor's Counsel: Joseph M. Aliberti, Esq.
                  LAW OFFICE JOSEPH M. ALIBERTI
                  260 Newport Center Drive, Suite 100
                  Newport Beach, CA 92660
                  Tel: (949) 724-0550
                  Fax: (949) 743-5858
                  E-mail: jma@alibertilaw.com

Scheduled Assets: $1,715,612

Scheduled Debts: $2,784,489

A list of the Debtor's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-26527.pdf


CURLEE DENNIS: N.D. Calif. Court Dismisses Chapter 11 Case
----------------------------------------------------------
The Hon. Edward D. Jellen dismisses the Chapter 11 case of Curlee
C. Dennis, at the behest of August P. Landis, Acting United States
Trustee.  Curlee C. Dennis filed a voluntary chapter 13 petition
(Bankr. N.D. Calif. Case No. 10-47895) on July 13, 2010.  On
August 6, 2010, the court converted the case to chapter 11 on Mr.
Dennis's motion.

A copy of the Court's decision is available at http://is.gd/hDvTP
from Leagle.com.


DEL MONTE: S&P Puts 'BB' Corp. Rating on CreditWatch Negative
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it placed its 'BB'
corporate credit rating and other ratings on San Francisco-based
Del Monte Foods Co., and subsidiary Del Monte Corp., on
CreditWatch with negative implications, meaning that the ratings
could either be lowered or affirmed following the completion of
S&P's review.

The CreditWatch placement follows reports that Del Monte may be
subject to a takeover by a private equity firm.  "In S&P's
opinion, a meaningfully debt-financed transaction would weaken Del
Monte's credit protection measures below current levels, which
include lease and pension adjusted total debt to EBITDA of about
2.6x and funds from operations to total debt of about 30%, for the
12 months ended Aug. 1, 2010," said Standard & Poor's credit
analyst Alison Sullivan.  S&P expects Del Monte to maintain
leverage (as measured by average debt to EBITDA) of below 3x to
maintain the current ratings.  S&P could consider a downgrade of
the ratings if leverage weakens to near 4x.  Del Monte had
$1.3 billion of total reported debt outstanding as of Aug. 1,
2010.  Currently, S&P view the company's business risk profile as
fair and its financial risk profile as significant.

S&P will resolve the CreditWatch when more information regarding a
potential transaction and financing becomes available.  S&P will
then assess the company's financial policy and the impact of any
potential transaction on the company's capital structure.


DENNY HECKER: Trustee Wants to Compel Turnover of Motorcycles
-------------------------------------------------------------
According to twincities.com, Matt Burton, a lawyer working for
Randy Seaver, the trustee for the bankruptcy estate of Denny
Hecker, asked a federal bankruptcy judge to Mr. Hecker to turn
over:

   * documentation related to the purchases of the 2006 Harley-
     Davidson Screamin' Eagle motorcycle and a Yamaha 50 dirt
     bike; and

   * any items Mr. Hecker purchased in June from Golf Galaxy using
     a money order acquired with money he liquidated from
     insurance policies.

A hearing on the request is set for Dec. 8, 2010.

Mr. Hecker used a Visa card and the name "Warehouse Merchandising"
to bid on the two motorcycles.  Since the auction occurred before
Mr. Hecker says he liquidated the insurance money, the trustee is
trying to find out where Mr. Hecker got the money to purchase the
items.  The Harley-Davidson was sold for $15,900, and the Yamaha
dirt bike at $950 at the auction, says report.

                        About Denny Hecker

Dennis E. Hecker owned and operated dozens of auto dealerships,
car rental franchises, and other businesses until 2009. He filed a
voluntary chapter 7 petition (Bankr. D. Minn. Case No. 09-50779)
on June 4, 2009, after his auto empire collapsed into bankruptcy.

Chrysler Financial filed a dischargeability action (Bankr. D.
Minn. Adv. Pro. No. 09-5019) on July 8, 2009.  Chrysler Financial
alleged that $83 million of $350 million owed is nondischargeable
under 11 U.S.C. Sec. 523(a) because Mr. Hecker allegedly obtained
it through the use of false pretenses, false representations,
fraud, defalcation, and embezzlement.  The Honorable Robert J.
Kressel granted Chrysler Financial's motion for sanctions and
ordered $83 million of the judgment against Mr. Hecker, together
with accrued interest, not dischargeable in the Chapter 7
bankruptcy case.

Mr. Hecker has pleaded guilty to two fraud charges: concealing
assets from the bankruptcy court and lying to get multimillion-
dollar loans for his dealerships and leasing operation.


DPAC TECHNOLOGIES: Posts $219,300 Net Loss in September 30 Quarter
------------------------------------------------------------------
DPAC Technologies Corp. filed its quarterly report on Form 10-Q,
reporting a net loss of $219,294 on $1.9 million of revenue for
the three months ended September 30, 2010, compared with a net
loss of $383,591 on $1.4 million of revenue for the same period of
2009.

At September 30, 2010, the Company had a cash balance of $29,000
and a deficit in working capital of $1.4 million.  This compares
to a cash balance of $18,000 and a deficit in working capital of
$1.3 million at December 31, 2009.

The Company's balance sheet as of September 30, 2010, showed
$9.6 million in total assets, $6.7 million in total liabilities,
and stockholders' equity of $2.9 million.

Maloney + Novotny in Cleveland, Ohio, 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 continued operating losses, declines in
working capital balances and the inherent risk in extending or
refinancing its bank line of credit [which matures on December 15,
2010].

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

               http://researcharchives.com/t/s?6f77

Hudson, Ohio-based DPAC Technologies Corp. (OTC BB: DPAC)
-- http://www.dpactech.com/-- provides embedded wireless
networking products for machine-to-machine communication
applications.  DPAC's Airborne(TM) and AirborneDirect(TM) wireless
products are used by major OEMs in the transportation,
instrumentation and industrial control, homeland security, medical
diagnostics and logistics markets to provide remote data
collection and control.


DTC TALLEVAST: Case Summary & 7 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: DTC Tallevast, LLC
        15051 S Tamiami Trl 203
        Fort Myers, FL 33908-5182

Bankruptcy Case No.: 10-28019

Chapter 11 Petition Date: November 21, 2010

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

Debtor's Counsel: Christopher D. Smith, Esq.
                  SMITH & DINE, P.A.
                  5391 Lakewood Ranch Blvd., Suite 203
                  Sarasota, FL 34240
                  Tel: (941) 907-4774
                  Fax: (941) 907-3040
                  E-mail: chris@smithdine.com

Scheduled Assets: $2,115,402

Scheduled Debts: $3,102,360

A list of the Company's seven largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flmb10-28019.pdf

The petition was signed by Edward D. Adkins, manager.


DYNEGY INC: Mulls Options After Shareholders Thumbed Down Merger
----------------------------------------------------------------
Dynegy Inc. said the proposal to adopt its merger agreement with
The Blackstone Group did not receive necessary votes to be
adopted, based on a preliminary count of the votes cast.  The
merger agreement has been terminated.

Dynegy held a Special Meeting of Stockholders on November 23.

The Blackstone Group had offered to acquire Dynegy for $5.00 per
share in cash.

Dynegy expects to immediately commence an open strategic
alternatives process to solicit proposals from potentially
interested parties and to carefully review its standalone
restructuring alternatives.

Rebecca Smith and Gina Chon, writing for The Wall Street Journal,
relate the defeat came at the hands of activist investor Carl
Icahn and hedge fund Seneca Capital LP, which recently bought a
combined 22% stake in the company and urged others to reject
Blackstone's offer.

The Journal reports people familiar with the matter said Seneca is
likely to make an offer of more than $6 a share, with the
participation of a partner.  Seneca said in investor presentations
that Dynegy was worth around $6.50 a share.

The Journal relates Mr. Icahn has said he may make a bid and a
person familiar with the matter said he is willing to put in
writing an offer of a $2 billion credit facility. Mr. Icahn was
unavailable to comment.

"We appreciate the consideration and perspectives of all Dynegy
stockholders," said Bruce A. Williamson, Chairman, President and
Chief Executive Officer of Dynegy Inc.  "We are now moving forward
and will initiate an open strategic alternatives process to
maximize stockholder value.  We thank our stockholders for their
support and we remain committed to taking the steps necessary to
enhance stockholder value."

                Open Strategic Alternatives Process

As part of the open strategic alternatives process, Dynegy's
financial advisors will contact a broad group of potential
strategic and financial buyers, including Seneca Capital and Icahn
Associates.  Dynegy invites other interested third parties to
contact Dynegy or its financial advisors.  There can be no
assurance that the solicitation of proposals will result in Dynegy
receiving any proposal from a third party.  The company does not
intend to disclose developments with respect to this review unless
and until the Dynegy Board of Directors has approved a course of
action.

A Special Committee of independent directors will oversee the open
strategic alternatives process. Patricia A. Hammick, Dynegy's lead
independent director, will act as the Chair of the Special
Committee. In addition to Mrs. Hammick, the Special Committee will
include David W. Biegler, Victor E. Grijalva, Howard B. Sheppard
and William L. Trubeck. Dynegy also intends to add an additional
outside independent director to its Board and to the Special
Committee immediately through discussions it will commence with
Seneca Capital.

"We are committed to moving Dynegy forward and, because we believe
stockholders will not approve the transaction with Blackstone, the
Board will initiate an open strategic alternatives process to
maximize stockholder value," said, Bruce A. Williamson, Chairman,
President and Chief Executive Officer of Dynegy Inc.  "We will
immediately engage interested parties, including Seneca Capital
and Icahn Associates, who may have an interest in making an offer
to acquire Dynegy.  We look forward to maintaining an open and
productive dialogue with our stockholders and believe the steps
being taken by the Dynegy Board make it clear that we are
continuing to actively work to enhance stockholder value."

                      Restructuring Advisors

In addition to evaluating the potential sale of the company, the
Special Committee will evaluate the company's forecasts and
current commodity and financial market conditions as well as
Dynegy's strategic alternatives.  Dynegy intends to retain an
independent financial restructuring advisor to conduct a review
that will include strategic alternatives to create stockholder
value, including management's previous analysis of individual
asset sales, debt restructuring and cost cutting opportunities.
The independent financial restructuring advisor will present its
recommendations to the Special Committee.

Goldman, Sachs & Co. and Greenhill & Co., LLC are serving as
financial advisors for the open strategic alternatives process.
Sullivan & Cromwell LLP is serving as legal counsel to Dynegy.

                          Seneca on Board

Dynegy will engage with Seneca Capital regarding the immediate
appointment of a qualified, independent candidate to the Dynegy
Board of Directors.  The Dynegy Board currently consists of six
members, five of whom are independent.

Dynegy said the independent Inspector of the Meeting, IVS
Associates, Inc., will tabulate all proxies and ballots submitted
at the Special Meeting.  Final results will be released after the
votes have been tabulated and certified, which Dynegy expects to
occur within approximately two weeks.

                        About Dynegy Inc.

Through its subsidiaries, Houston, Texas-based Dynegy Inc.
(NYSE:DYN) -- http://www.dynegy.com/-- produces and sells
electric energy, capacity and ancillary services in key U.S.
markets.  The power generation portfolio consists of approximately
12,200 megawatts of baseload, intermediate and peaking power
plants fueled by a mix of natural gas, coal and fuel oil.

Dynegy Inc. and Dynegy Holdings each has a 'B-' issuer default
rating from Fitch.

In October 2010, Moody's Investors Service lowered the ratings of
Dynegy Holdings, including its Corporate Family Rating, to Caa1
from B3 along with the ratings of various affiliates or parent
company Dynegy Inc.  The rating outlook for DHI and Dynegy remains
negative.  The rating action follows the expiration of the 40-day
"go shop" period, increasing the probability that Dynegy will be
acquired by an affiliate of The Blackstone Group L.P. in a
transaction valued at approximately $4.7 billion, including the
assumption of existing debt.  Moody's said Dynegy's financial
profile is expected to be quite fragile, particularly during 2011
and 2012, when the company is projected to generate both negative
operating cash flow and negative free cash flow due to weak
operating margins and the required funding of their capital
investment programs.  To the extent that the transactions with
Blackstone and NRG are not completed, Moody's said downward rating
pressure at DHI and Dynegy will continue to exist given the weak
financial prospects for the company over the next few years
coupled with the liquidity concerns.


DYNEGY INC: Adopts Stockholder Protection Rights Plan
-----------------------------------------------------
Dynegy Inc. said its Board of Directors has adopted a Stockholder
Protection Rights Plan and declared a dividend of one stock
purchase right for each share of common stock held by stockholders
of record as of the close of business on December 2, 2010.

The Board of Directors adopted this short term, narrowly tailored
Rights Plan to prevent any person from obtaining control or de
facto control of Dynegy without offering a control premium to all
Dynegy stockholders.  The issuance of the Rights is not intended
to prevent a sale of control of the company that is determined by
the Board of Directors to be fair, advisable and in the best
interests of all Dynegy stockholders.  The Rights Plan provides
that, unless terminated earlier by the company, the Rights will
expire following Dynegy's next annual meeting of stockholders
after the filing of Dynegy's annual report on Form 10-K for the
fiscal year 2010, unless the Rights Plan is approved by Dynegy's
stockholders (in which case it will expire at the first subsequent
annual meeting at which it is not approved by a stockholder vote).

The Rights will be distributable to stockholders on the next
business day following the earliest of (i) the tenth business day
after the commencement of a tender or exchange offer that, if
consummated, would result in any person owning 10% or more of
Dynegy's common stock (unless Dynegy's Board of Directors decides
to delay the distribution), (ii) Dynegy announcing that a person
or group has acquired 10% or more of Dynegy's common stock, and
(iii) any person or group acquiring more than 30% of Dynegy's
common stock.  Following such distribution, each Right will
entitle its holder to purchase fractions of Participating
Preferred Stock having economic and voting terms similar to those
of one share of the Company's common stock for an exercise price
of $12.50 (subject to adjustment).

The Rights will be exercisable for shares of Dynegy common stock
if Dynegy announces that a person or group has acquired 10% or
more of Dynegy's common stock or any person or group acquires more
than 30% of Dynegy's common stock.  Under the Rights Plan,
synthetic ownership of Dynegy's common stock in the form of
certain derivative securities counts towards the 10% and 30%
ownership thresholds, if Dynegy's Board of Directors determines
that the owner of such derivative securities is seeking to use the
existence of such securities for the purpose or effect of changing
or influencing control of the company.  Dynegy's Board has made
such a determination with respect to certain Icahn affiliated
entities and with respect to Seneca Capital entities.

The Rights Plan exempts any person owning 10% or more of Dynegy's
common stock as of the announcement of the Rights Plan.  However,
the Rights also will be exercisable if a person or group that
already owns 10% or more of Dynegy's common stock acquires any
additional shares (including through derivatives, but other than
pursuant to a dividend or distribution paid or made by the company
or pursuant to a stock split or reclassification).

The Rights Plan also exempts from its provisions all-cash, fully
financed offers for all outstanding shares of Dynegy's common
stock that provide for a per share price in excess of $5.00 and
meet certain other requirements.

If the Rights become exercisable for Dynegy's common stock, all
Rights holders (other than the person or group triggering the
Rights) will be entitled to purchase Dynegy's common stock at a
50% discount.  For example, if at the time the Rights become
exercisable for Dynegy's common stock the exercise price is still
$12.50 and Dynegy's common stock has a per share market value of
$5, each Right would be exercisable for five shares of common
stock ($25 of market value) at an exercise price of $12.50, i.e.,
five shares of common stock at a 50% discount.  Rights held by the
person or group triggering the Rights will become void and will
not be exercisable.  If any person or group acquires between 10%
and 50% of Dynegy's common stock, Dynegy's Board of Directors may,
at its option, cause the exchange of one share of Dynegy common
stock for each Right.

The distribution of the Rights is not taxable to stockholders.
Until their distribution, the Rights will trade with Dynegy's
common stock.  The Dynegy Board may terminate the Rights Plan
prior to the time the Rights are triggered.  Further details about
the Rights Plan will be contained in a Form 8-K to be filed with
the Securities and Exchange Commission by Dynegy.  Dynegy will
also mail a letter to stockholders regarding the Rights Plan along
with a summary of certain terms of the Rights Plan.

                        About Dynegy Inc.

Through its subsidiaries, Houston, Texas-based Dynegy Inc.
(NYSE:DYN) -- http://www.dynegy.com/-- produces and sells
electric energy, capacity and ancillary services in key U.S.
markets.  The power generation portfolio consists of approximately
12,200 megawatts of baseload, intermediate and peaking power
plants fueled by a mix of natural gas, coal and fuel oil.

Dynegy Inc. and Dynegy Holdings each has a 'B-' issuer default
rating from Fitch.

In October 2010, Moody's Investors Service lowered the ratings of
Dynegy Holdings, including its Corporate Family Rating, to Caa1
from B3 along with the ratings of various affiliates or parent
company Dynegy Inc.  The rating outlook for DHI and Dynegy remains
negative.  The rating action follows the expiration of the 40-day
"go shop" period, increasing the probability that Dynegy will be
acquired by an affiliate of The Blackstone Group L.P. in a
transaction valued at approximately $4.7 billion, including the
assumption of existing debt.  Moody's said Dynegy's financial
profile is expected to be quite fragile, particularly during 2011
and 2012, when the company is projected to generate both negative
operating cash flow and negative free cash flow due to weak
operating margins and the required funding of their capital
investment programs.  To the extent that the transactions with
Blackstone and NRG are not completed, Moody's said downward rating
pressure at DHI and Dynegy will continue to exist given the weak
financial prospects for the company over the next few years
coupled with the liquidity concerns.


ECHO THERAPEUTICS: Net Loss Down to $582,840 in Q3 2010
-------------------------------------------------------
Echo Therapeutics, Inc., filed its quarterly report on Form 10-Q,
reporting net loss of $582,840 for three months ended
September 30, 2010, compared with net loss of $1,183,114 for the
same period in 2009.

For nine months ended September 30, the Company incurred net loss
of $2,999,947 compared with net loss of $9,249,294 for the same
period in 2009.

The Company's balance sheet at September 30, showed total assets
of $10,231,058, total liabilities of $2,369,326, and stockholders'
equity of $7,861,732.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?6f62

                        Going Concern Doubt

Wolf & Company, P.C., 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
suffered recurring losses from operations, has a significant
accumulated deficit, has a significant working capital deficit and
has been unable to raise sufficient capital to fund its
operations.

In the Form 10-Q, the Company stated, "As of September 30, the
Company had cash of approximately $221,000, a working capital
deficit of approximately $1,817,000 and an accumulated deficit of
approximately $70,394,000.  Although the Company has issued
securities through senior promissory notes, secured promissory
notes and a series of private placements to raise capital in order
to fund its operations, it is not known whether the Company will
be able to continue this practice or obtain other types of
financing to meet its cash operating expenses.  This, in turn,
raises substantial doubt about the Company's ability to continue
as a going concern.  The management continues to pursue additional
financing to fund its operations and the financing is expected to
be obtained before the end of 2010; however, no assurances can be
given as to the success of these plans."

                      About Echo Therapeutics

Franklin, Massachusetts-based Echo Therapeutics, Inc. is a
transdermal medical device company with deep expertise in advanced
skin permeation technology that is initially focused on diabetes
care and needle-free drug delivery.


ECOSPHERE TECHNOLOGIES: Delays Form 10-Q for Third Quarter
----------------------------------------------------------
Ecosphere Technologies Inc. said it could not timely file its
quarterly report on Form 10-Q with the Securities and Exchange
Commission because the Company is delaying the filing pending the
outcome of discussions among the directors of Ecosphere Energy
Services LLC, the Company's majority-owned subsidiary.

The Board of Directors of EES is comprised of five designees of
the Company and four designees of the non-controlling members of
EES.  The discussions are related to the restructuring of
agreements relating to EES.  The resolution of these discussions
may significantly affect the disclosure in the Form 10-Q and the
Company's future financial condition.

The Troubled Company Reporter reported on September 24, 2010, that
EES had net income of $4.7 million on $2.1 million of revenue for
the three months ended June 30, 2010, compared with a net loss of
$18.5 million on $154,041 of revenue for the same period of 2009.

The Company's balance sheet at June 30, 2010, showed $9.9 million
in total assets, $7.9 million in total liabilities, $3.8 million
in redeemable convertible cumulative preferred stock, and a
stockholders' deficit of $1.8 million.

                   About Ecosphere Technologies

Stuart, Fla.-based Ecosphere Technologies, Inc.  (OTC BB: ESPH)
-- http://www.ecospheretech.com/--  is a diversified water
engineering and environmental services company.  Ecosphere
Technologies provides environmental services and technologies for
use in large-scale and sustainable applications across industries,
nations and ecosystems.

As reported in the Troubled Company Reporter on April 6, 2010,
Salberg & Company, P.A., in Boca Raton, Fla., expressed
substantial doubt about the Company's ability to continue as a
going concern, following its 2009 results.  The independent
auditors noted of the Company's net loss for 2009, and working
capital, stockholders' and accumulated deficits at December 31,
2009.


ECOSPHERE TECHNOLOGIES: Thomas Wolfe Resigns as Director
--------------------------------------------------------
Thomas Wolfe resigned as a director of Ecosphere Technologies Inc.
on November 11, 2010, according to a Form 8-K filed with the
Securities and Exchange Commission.

                   About Ecosphere Technologies

Stuart, Fla.-based Ecosphere Technologies, Inc.  (OTC BB: ESPH)
-- http://www.ecospheretech.com/--  is a diversified water
engineering and environmental services company.  Ecosphere
Technologies provides environmental services and technologies for
use in large-scale and sustainable applications across industries,
nations and ecosystems.

As reported in the Troubled Company Reporter on April 6, 2010,
The Company's balance sheet at June 30, 2010, showed $9.9 million
in total assets, $7.9 million in total liabilities, $3.8 million
in redeemable convertible cumulative preferred stock, and a
stockholders' deficit of $1.8 million.

Salberg & Company, P.A., in Boca Raton, Fla., expressed
substantial doubt about the Company's ability to continue as a
going concern, following its 2009 results.  The independent
auditors noted of the Company's net loss for 2009, and working
capital, stockholders' and accumulated deficits at December 31,
2009.


EDWARD WALTER: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Edward Jeffrey Walter
        P.O. Box 2309
        Vancouver, WA 98668

Bankruptcy Case No.: 10-49511

Chapter 11 Petition Date: November 18, 2010

Court: United States Bankruptcy Court
       Western District of Washington (Tacoma)

Judge: Paul B. Snyder

Debtor's Counsel: Roger J. Sharp, Esq.
                  SHARP LAW PC
                  4400 NE 77th Ave Ste 275
                  Vancouver, WA 98662
                  Tel: (360) 635-1653
                  E-mail: bankruptcyplus@gmail.com

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

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

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


ELEPHANT TALK: Incurs $25 Mil. Net Loss in Third Quarter
--------------------------------------------------------
Elephant Talk Communications Inc. filed its quarterly report on
Form 10-Q, reporting a net loss of $25.84 million on $9.04 million
on revenues for the three months ended Sept. 30, 2010, compared
with a net loss of $5.63 million on $11.45 million of revenues for
the same period a year ago.

The Company's balance sheet at Sept. 30, 2010, showed
$41.68 million in total assets, $69.79 million in total
liabilities, and a stockholders' deficit of $28.10 million.
Stockholders' deficit was $14.9 million at June 30, 2010.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6f56

                        About Elephant Talk

Lutz, Fla.-based Elephant Talk Communications, Inc. (OTC BB: ETAK)
-- http://www.elephanttalk.com/-- is an international provider of
business software and services to the telecommunications and
financial services industry.

                          *     *     *

As reported in the Troubled Company Reporter on April 7, 2010,
BDO Seidman, LLP expressed substantial doubt about the Company's
ability to continue as a going concern, following the Company's
results for 2009.  The independent auditors noted that the Company
incurred a net loss of $17.4 million, used cash in operations of
$5.4 million and had an accumulated deficit of $62.3 million.


ENERJEX RESOURCES: Incurs $954,105 Net Loss in Sept. 30 Quarter
---------------------------------------------------------------
EnerJex Resources Inc. filed its quarterly report on Form 10-Q,
reporting a net loss of $954,105 on $897,219 of oil and natural
gas revenues for the three months ended Sept. 30, 2010, compared
with a net loss of $543,763 on $1.39 million of oil and natural
gas revenues for the same period a year ago.

The Company's balance sheet at Sept. 30, 2010, showed
$6.41 million in total assets, $14.05 million in total
liabilities, and a stockholders' deficit of $7.63 million.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6f73

As reported in the Troubled Company Reporter on July 21, 2010,
Weaver & Martin, LLC, in Kansas City, Missouri, expressed
substantial doubt about the Company's ability to continue as a
going concern, following the Company's results for the year ended
March 31, 2010.  The independent auditors noted that the Company
has suffered recurring losses and had negative cash flows.

                    About EnerJex Resources

Overland Park, Kansas-based EnerJex Resources, Inc., formerly
known as Millennium Plastics Corporation, is an oil and natural
gas acquisition, exploration and development company.  The
Company's oil and natural gas acquisition and development
activities are currently focused in Eastern Kansas.


ESTES HOLDING: Case Summary & 3 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Estes Holding Company I, LLC
          aka Estes Holdings I, LLC
        4175 Blackstone Avenue
        Fresno, CA 93726

Bankruptcy Case No.: 10-63380

Chapter 11 Petition Date: November 19, 2010

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

Judge: W. Richard Lee

Debtor's Counsel: Riley C. Walter, Esq.
                  8305 N. Fresno Street, #410
                  Fresno, CA 93720
                  Tel: (559) 435-9800

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

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

A list of the Company's three largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/caeb10-63380.pdf

The petition was signed by Jim Estes, member.


EXIDE TECHNOLOGIES: Objects to Chloride Group, LIGA Claims
----------------------------------------------------------
Exide Technologies asks the Bankruptcy Court to disallow and
expunge Claim No. 2877 filed by Chloride Group and Claim No. 2674
filed by Louisiana Insurance Guaranty Association.

Exide argues that both creditors did not file documents in
support of their claims and that they failed to allege facts or
damages necessary to support a compensable claim.

Louisiana Insurance filed Claim No. 2674 on account of the
payment it made to a certain Jessie Lee Williams who got injured
while working for Savard Labor and Professional Staffing at Exide
Corp. in Louisiana.  Chloride Group, meanwhile, asserts trademark
rights under a trademark exchange agreement.

                    About Exide Technologies

Headquartered in Princeton, New Jersey, Exide Technologies
(NASDAQ: XIDE) -- http://www.exide.com/-- manufactures and
distributes lead acid batteries and other related electrical
energy storage products.

The Company filed for Chapter 11 protection on April 14, 2002
(Bankr. Del. Case No. 02-11125). Matthew N. Kleiman, Esq., and
Kirk A. Kennedy, Esq., at Kirkland & Ellis, and James E. O'Neill,
Esq., at Pachulski Stang Ziehl & Jones LLP represented the Debtors
in their successful restructuring.  The Court confirmed Exide's
Amended Joint Chapter 11 Plan on April 20, 2004.  The plan took
effect on May 5, 2004.  While it has emerged from Bankruptcy,
reorganized Exide is still resolving claims filed against it in
the Bankruptcy Court.

                           *     *     *

Reorganized Exide carries 'B' issuer credit ratings from Standard
& Poor's.  In August 2010, when it affirmed the ratings, S&P
explained, "The ratings on Exide reflect S&P's expectation that
sales and profitability will improve gradually as demand
increases.  The ratings also reflect Exide's vulnerable business
risk profile, marked by tough competition in the automotive and
industrial battery businesses, exposure to volatile lead prices,
and high fixed costs and capital intensity."

Exide has 'B3' corporate family and probability of default ratings
from Moody's Investors Service.  In July 2008, Moody's upgraded
the rating to 'B3' from 'Caa1'.


EXIDE TECHNOLOGIES: Seeks Dismissal of Suit vs. EnerSys
-------------------------------------------------------
Exide Technologies asks the Bankruptcy Court to deny the motion to
dismiss its complaint against EnerSys.

Exide earlier filed a complaint seeking a declaratory judgment
that the rights of EnerSys under their pre-bankruptcy agreement
constitute a claim that was discharged by confirmation of the
Exide's Joint Plan of Reorganization.  The agreement refers to
EnerSys' license to use the Exide trademark on industrial
batteries.

The complaint was filed after the U.S. Court of Appeals for the
Third Circuit handed down a ruling that the agreement was not an
executory contract because EnerSys performed its obligations
under that agreement prior to Exide's bankruptcy filing.

Exide's lawyer, James O'Neill, Esq., at Pachulski Stang Ziehl &
Jones LLP, says EnerSys argues in its motion to dismiss for a
narrow interpretation of "claim" which is inconsistent with
controlling case law.

Mr. O'Neill refutes in particular EnerSys' argument that its
right to an equitable remedy under the agreement does not give
rise to a right to payment and, therefore, does not constitute a
claim under the Bankruptcy Code.

Mr. O'Neill argues that EnerSys has a "claim" under the agreement
as defined under Section 101(5) of the Bankruptcy Code.

Section 101(5) provides that a claim means a "right to an
equitable remedy for breach of performance if that breach gives
rise to a right to payment, whether or not that right to an
equitable remedy is reduced to judgment, fixed, contingent,
matured, unmatured, disputed, undisputed, secured or unsecured."

Mr. O'Neill further argues that EnerSys' motion should be denied
because the complaint states a claim upon which relief may be
granted to Exide.

"The complaint alleges that EnerSys' rights under the agreement
constitute a claim that was discharged by confirmation of the
plan," Mr. O'Neill says, adding that the complaint also alleges
that the trademark vested in Exide free of EnerSys' right to use
the trademark under the agreement.

According to Mr. O'Neill, Exide's entitlement to relief is based
on the proposition that the damages suffered by EnerSys from the
use of the trademark can be calculated with reasonable certainty,
making any of EnerSys' rights under the agreement a claim
according to Section 101(5).

                        EnerSys Responds

EnerSys points out that Exide did not breach any performance
obligations owed to EnerSys under the agreement prior to the
confirmation of the restructuring plan.

"As a result, regardless of whether money damages would or would
not be easy to calculate, EnerSys' rights under the trademark
agreement cannot possibly give rise to dischargeable claims,"
says EnerSys' lawyer, Maria Aprile Sawczuk, Esq., at Stevens &
Lee P.C., in Wilmington, Delaware.

Ms. Sawczuk further argues that even if Exide had breached the
agreement pre-confirmation, EnerSys' rights would still not be
dischargeable claims since money damages would not be a viable
alternative to EnerSys' equitable rights to enjoin any breach of
the agreement.  She points out that the trademarks are unique
assets for which no reliable information about substitutes is
readily available, and without the information, no court could
determine the amount of damages with the required degree of
certainty.

EnerSys informs the Court that it has already completed the
briefing, and asks for oral argument in connection with its
motion to dismiss the complaint.

                    About Exide Technologies

Headquartered in Princeton, New Jersey, Exide Technologies
(NASDAQ: XIDE) -- http://www.exide.com/-- manufactures and
distributes lead acid batteries and other related electrical
energy storage products.

The Company filed for Chapter 11 protection on April 14, 2002
(Bankr. Del. Case No. 02-11125). Matthew N. Kleiman, Esq., and
Kirk A. Kennedy, Esq., at Kirkland & Ellis, and James E. O'Neill,
Esq., at Pachulski Stang Ziehl & Jones LLP represented the Debtors
in their successful restructuring.  The Court confirmed Exide's
Amended Joint Chapter 11 Plan on April 20, 2004.  The plan took
effect on May 5, 2004.  While it has emerged from Bankruptcy,
reorganized Exide is still resolving claims filed against it in
the Bankruptcy Court.

                           *     *     *

Reorganized Exide carries 'B' issuer credit ratings from Standard
& Poor's.  In August 2010, when it affirmed the ratings, S&P
explained, "The ratings on Exide reflect S&P's expectation that
sales and profitability will improve gradually as demand
increases.  The ratings also reflect Exide's vulnerable business
risk profile, marked by tough competition in the automotive and
industrial battery businesses, exposure to volatile lead prices,
and high fixed costs and capital intensity."

Exide has 'B3' corporate family and probability of default ratings
from Moody's Investors Service.  In July 2008, Moody's upgraded
the rating to 'B3' from 'Caa1'.


EXIDE TECHNOLOGIES: Wants Until Jan. 31 to Object to Claims
-----------------------------------------------------------
Exide Technologies seeks an order from the U.S. Bankruptcy Court
for the District of Delaware further extending the period within
which it may file objections to claims until January 31, 2011.

James O'Neill, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Delaware, says the proposed extension will give Exide
enough time to evaluate or even resolve the remaining claims that
were filed against the company.

Over 6,100 proofs of claim aggregating $4.4 billion were filed
against Exide.  These do not include about 1,100 proofs of claim
that were filed as unliquidated claims.

As of October 29, 2010, about 6,062 claims have been reviewed and
resolved, reducing the total amount of outstanding claims by over
$3.4 billion.  Exide has also completed 21 quarterly
distributions to creditors under its confirmed restructuring
plan, consisting of distributions on approximately 2,608 claims
for about $1.67 billion.

Since July 28, 2010, Exide has not filed any omnibus objections
to claims but has filed individual objections to claims and made
considerable progress including continued settlement negotiations
with respect to the remaining claims, according to Mr. O'Neill.

The Court will consider approval of the proposed extension at the
hearing scheduled for December 16, 2010.  By application of
Del.Bankr.LR 9006-2, the Claims Bar Date is extended until the
conclusion of that hearing.

Claimants have until December 9, 2010, to file their objections
to the proposed extension.

                    About Exide Technologies

Headquartered in Princeton, New Jersey, Exide Technologies
(NASDAQ: XIDE) -- http://www.exide.com/-- manufactures and
distributes lead acid batteries and other related electrical
energy storage products.

The Company filed for Chapter 11 protection on April 14, 2002
(Bankr. Del. Case No. 02-11125). Matthew N. Kleiman, Esq., and
Kirk A. Kennedy, Esq., at Kirkland & Ellis, and James E. O'Neill,
Esq., at Pachulski Stang Ziehl & Jones LLP represented the Debtors
in their successful restructuring.  The Court confirmed Exide's
Amended Joint Chapter 11 Plan on April 20, 2004.  The plan took
effect on May 5, 2004.  While it has emerged from Bankruptcy,
reorganized Exide is still resolving claims filed against it in
the Bankruptcy Court.

                           *     *     *

Reorganized Exide carries 'B' issuer credit ratings from Standard
& Poor's.  In August 2010, when it affirmed the ratings, S&P
explained, "The ratings on Exide reflect S&P's expectation that
sales and profitability will improve gradually as demand
increases.  The ratings also reflect Exide's vulnerable business
risk profile, marked by tough competition in the automotive and
industrial battery businesses, exposure to volatile lead prices,
and high fixed costs and capital intensity."

Exide has 'B3' corporate family and probability of default ratings
from Moody's Investors Service.  In July 2008, Moody's upgraded
the rating to 'B3' from 'Caa1'.


FANNIE MAE: CFO David Johns Will Resign by Year's End
-----------------------------------------------------
On November 12, 2010, David M. Johnson, Executive Vice President
and Chief Financial Officer of Fannie Mae formally, the Federal
National Mortgage Association, said he would be resigning from the
Company no later than the end of 2010.  Until a successor to Mr.
Johnson is named, David C. Hisey will assume Mr. Johnson's
responsibilities as Chief Financial Officer.

Mr. Hisey has been Fannie Mae's Executive Vice President and
Deputy Chief Financial Officer since November 2008.  Mr. Hisey
previously served as Executive Vice President and Chief Financial
Officer from August to November 2008, as Senior Vice President and
Controller from February 2005 to August 2008 and as Senior Vice
President, Financial Controls and Operations from January to
February 2005.  Prior to joining Fannie Mae, Mr. Hisey was
Corporate Vice President of Financial Services Consulting,
Managing Director and practice leader of the Lending and Leasing
Group of BearingPoint, Inc., a management consulting and systems
integration company.  Prior to joining BearingPoint in 2000,
Mr. Hisey was an audit partner with KPMG, LLP.  Mr. Hisey serves
as the Company's principal accounting officer and is a certified
public accountant.

There have been no changes to Mr. Hisey's compensation.

                         About Fannie Mae

Federal National Mortgage Association, aka Fannie Mae, is a
government-sponsored enterprise that was chartered by U.S.
Congress in 1938 to support liquidity, stability and affordability
in the secondary mortgage market, where existing mortgage-related
assets are purchased and sold.

Fannie Mae has been under conservatorship, with the Federal
Housing Finance Agency acting as conservator, since September 6,
2008.  As conservator, FHFA succeeded to all rights, titles,
powers and privileges of the company, and of any shareholder,
officer or director of the company with respect to the company and
its assets.  The conservator has since delegated specified
authorities to Fannie Mae's Board of Directors and has delegated
to management the authority to conduct day-to-day operations.

The U.S. Department of the Treasury owns Fannie Mae's senior
preferred stock and a warrant to purchase 79.9% of its common
stock, and Treasury has made a commitment under a senior preferred
stock purchase agreement to provide Fannie with funds under
specified conditions to maintain a positive net worth.


FIRST NATIONAL: Mulling Wind-Down; Insolvent After Bank Closed
--------------------------------------------------------------
First National Bancshares 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 it
is currently unable to estimate the change in its results of
operations as it is evaluating the financial effect of the closure
of its wholly owned national bank subsidiary.  However, as a
result of the closure of the Bank, the amount of the Company's
liabilities currently exceed the amount of its remaining assets.
Accordingly, the Company is currently evaluating the methods of
the winding down the Company's operations.

In July this year, the Office of the Comptroller of the Currency
closed First National Bank of the South, the Company's wholly
owned national banking association subsidiary, and the Federal
Deposit Insurance Corporation was appointed as receiver of the
Bank.

The Company's principal assets are the capital stock held in the
Bank, and the only source of income for the Company was the Bank.
As a result of these events, the Company is without the personnel
or resources to complete the Form 10-Q.  The Company will conduct
no business other than in connection with the winding down of its
operations.

                 About First National Bancshares

First National Bancshares, Inc., (FNSC.OB) is a holding company,
based in Spartanburg, South Carolina.  First National Bancshares
was incorporated in 1999 to conduct general banking business.

The Company's balance sheet as of March 31, 2010, showed
$676.1 million in total assets, $685.0 million in total
liabilities, and a stockholders' deficit of $8.9 million.
Liabilities included $605.36 million in deposits at its bank
subsidiary.

On July 16, 2010, the Company's wholly owned national bank
subsidiary, First National Bank of the South, was closed by the
Office of the Comptroller of the Currency, and the Federal Deposit
Insurance Corporation was named as receiver of the Bank.  The
Company is currently exploring methods of winding down its
operations.  According to the FDIC, First National Bank of the
South had total assets of $682.0 million and total deposits of
$610.1 million at March 31, 2010.


FLINT TELECOM: Posts $2.09 Million Net Loss in Third Quarter
------------------------------------------------------------
Flint Telecom Group, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $2.09 million on $4.44 million of
revenue for the three months ended September 30, 2010, compared
with a net loss of $3.05 million on $4.60 million of revenue for
the same period of 2009.

The Company's balance sheet as of September 30, 2010, showed
$2.16 million in total assets, $14.84 million in total
liabilities, and a stockholders' deficit of $12.68 million.

Flint had an accumulated stockholders' deficit of $12.67 million
and a working capital deficit of $12.91 million as of
September 30, 2010.

"As of the date of this filing we are currently in default on a
number of notes payable and other debt repayment plans," the
Company said in the Form 10-Q.  "We have also not made any
dividend payments on our Series E preferred stock as these
payments have become due."

As reported in the Troubled Company Reporter on October 26, 2010,
L.L, Bradford & Company, LLC, in Las Vegas, Nev., expressed
substantial doubt about the Company's ability to continue as a
going concern, following the Company's results for the fiscal year
ended June 30, 2010.  The independent auditors noted that the
Company has suffered losses from operations, negative cash flows
from operations and current liabilities exceed current assets.

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

               http://researcharchives.com/t/s?6f80

                       About Flint Telecom

Overland Park, Kan.-based Flint Telecom Group, Inc. (OTC BB: FLTT)
-- http://www.flinttelecomgroup.com/-- delivers next-generation
IP communications Products and Services.  As part of the Company's
ongoing emphasis on streamlining its operations and reaching
sustainable profitability, during the year ended June 30, 2010,
the Company shut down and disposed of four operating companies:
CVC Int'l, Phone House Inc. of Florida, Dial-Tone Communications
and Starcom Alliance.


FLORIDA GAMING: Posts $2 Million Net Loss in Q3 2010
----------------------------------------------------
Florida Gaming Corporation filed its quarterly report on Form
10-Q, showing a net loss of $2.01 million on $2.00 million of
revenue for the three months ended March 31, 2010, compared with a
net loss of $1.60 on $3.29 million of revenue for the same
period of 2009.

The Company's cash and cash equivalents at September 30, 2010, was
$505,731.  At September 30, 2010, the Company had a negative
working capital of $17.36 million.

During the nine months ended  September 30, 2010, net cash used in
Company's operating activities was $948,931 compared to net cash
used in operating activities of $2.03 million during the nine
months ended September 30, 2010.

The Company's balance sheet as of September 30, 2010, showed
$15.40 million in assets, $20.77 million in total liabilities, and
a stockholders' deficit of $5.37 million.

King + Company, PSC, in Louisville, Kentucky, 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 the Company has suffered recurring
losses from operations and cash flow deficiencies.

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

               http://researcharchives.com/t/s?6f65

Florida Gaming Corporation operates live Jai Alai games at
frontons in Ft. Pierce, and Miami, Florida through its Florida
Gaming Centers, Inc. subsidiary.  The Company also conducts
intertrack wagering (ITW) on jai alai, horse racing and dog racing
from its facilities.  Poker is played at the Miami and Ft. Pierce
Jai-Alai, and dominoes are played at the Miami Jai-Alai.  In
addition, the Company operates Tara Club Estates, Inc., a
residential real estate development located near Atlanta in Walton
County, Georgia.  Approximately 46.2% of the Company's common
stock is controlled by the Company's Chairman and CEO either
directly or beneficially through his ownership of Freedom Holding,
Inc.  The Company is based in Miami, Florida.


FORMTECH INDUSTRIES: Magna Loses Setoff & Recoupment Argument
-------------------------------------------------------------
WestLaw reports that former customers of Chapter 11 debtors failed
the same transaction test in seeking to recoup damages resulting
from the debtors' rejection of their supply contracts from the
accounts receivable that were owed by them and were sold to the
buyer of substantially all of the debtors' assets.  The auto parts
for which payment was owed pursuant to the accounts receivable had
already been delivered to the former customers, whereas their
recoupment claim did not relate to the debtors' performance or to
delivered goods, but to breach of future obligations unconnected
to the accounts receivable.  In re Formtech Industries, LLC, ---
B.R. ----, 2010 WL 4663699 (Bankr. D. Del.) (Walrath, J.).

A copy of the Honorable Mary F. Walrath's Memorandum Opinion in
HHI Formtech, LLC v. Magna Powertrain USA, Inc., et al., Adv Pro.
No. 10-50186 (Bankr. D. Del. Nov. 17, 2010), is available at:

  http://www.deb.uscourts.gov/Opinions/2010/mfw111710_10-50186.pdf

Based in Royal Oak, Michigan, FormTech Industries LLC --
http://www.formtech2.com/-- is one of the largest
manufacturers of forged automotive parts in North America.
The Company and its affiliate, FormTech Industries Holdings LLC,
sought Chapter 11 protection (Bankr. D. Del. Case Nos. 09-12964
and 09-12965) on Aug. 26, 2009.  Lynn M. Brimer, Esq., Meredith
E. Taunt, Esq., and Andrew A. Ayar, Esq., at Strobl & Sharp, P.C.,
represent the Debtors.  The Debtors selected Steven M. Yoder,
Esq., Jeremy W. Ryan, Esq., and, R. Stephen McNeill, Esq., at
Potter Anderson & Corroon LLP, as Delaware co-counsel, and
Kurtzman Carson Consultants LLC, as claims agent.  In its
petition, FormTech Industries LLC estimated assets of $100
million to $500 million, and debts of $50 million to
$100 million.  KPS Capital Partners, LP's portfolio company,
Hephaestus Holdings, Inc., acquired substantially all of
FormTech's assets in Oct. 2009 for about $40 million.


FRANKLIN CREDIT: Posts $20.3 Million Net Loss in Q3 2010
--------------------------------------------------------
Franklin Credit Holding Corporation filed its quarterly
report on Form 10-Q, reporting a net loss attributed to common
stockholders of $20.3 million on $4.1 million of total revenues
for the three months ended September 30, 2010, compared with a net
loss attributed to common stockholders of $9.6 million on
$21.0 million of total revenues for the same period of 2009.

The Company is expressly prohibited by its bank, The Huntington
National Bank, from acquiring or originating loans.

"Any event of default under the March 31, 2009 Restructuring
Agreements, as amended, or failure to successfully renew these
Restructuring Agreements or enter into new credit facilities with
Huntington prior to their scheduled maturity, could entitle
Huntington to declare the Company's indebtedness immediately due
and payable.  Without the continued cooperation and assistance
from Huntington, the consolidated Franklin Holding's ability to
continue as a viable business is in substantial doubt, and it may
not be able to continue as a going concern.  At September 30,
2010, and December 31, 2009, the Company's stockholders' deficit
was $839.7 million and $806.8 million, respectively."

The Company's balance sheet as of September 30, 2010, showed
$530.1 million in total assets, $1.370 billion in total
liabilities, and a stockholders' deficit of $839.7 million.

Marcum LLP, in New York, 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 recurring losses from operations and stockholders'
deficit.

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

               http://researcharchives.com/t/s?6f7f

Franklin Credit Holding Corporation (OTC BB: FCMC)
-- http://www.franklincredit.com/-- is a specialty consumer
finance company primarily engaged in the servicing and resolution
of performing, reperforming and nonperforming residential mortgage
loans, including specialized loan recovery servicing, and in the
analysis, pricing, due diligence and acquisition of residential
mortgage portfolios for third parties.  The Company's executive,
administrative and operations offices are located in Jersey City,
N.J.


FRED LEIGHTON: Former Owner Arrested; Faces Fraud Charges
---------------------------------------------------------
Bankruptcy Law360 reports that the former owner of Fred Leighton
Holdings Inc. was arrested Monday by U.S. postal inspectors on
charges that he lied during the company's Chapter 11 proceedings
and embezzled more than $40 million in connection with
$217 million in loans from a Bank of America Corp. subsidiary and
others as part of a scheme to profit from the bankruptcy.

Fred Leighton Holding, Inc. -- http://www.fredleighton.com/-- is
a New York-based jewelry retailer owned by Ralph O. Emerian.  Fred
Leighton has decked countless red-carpet-dwellers in diamonds,
including Sarah Jessica Parker, Nicole Kidman, and Catherine Zeta-
Jones.

Fred Leighton and its affiliates filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code on April 15, 2008
(Bankr. S.D.N.Y., Case No. 08-11363).  Joshua Joseph Angel, Esq.,
and Frederick E. Schmidt, Esq., at Herrick, Feinstein LLP, in New
York, represent the Debtors.  The Official Committee of Unsecured
Creditors has retained Michael Z. Brownstein, Esq., and Rocco A.
Cavaliere, Esq., at Blank Rome LLP, as counsel.  Fred Leighton
listed total assets of $128,551,467 and total liabilities of
$134,814,367 in its schedules.

The Bankruptcy Court approved in November 2009 the sale of Fred
Leighton Holding Inc.'s business operations for $25.8 million in
cash to investors including a group of private equity firms and
estate jewelry seller Windsor Jewelers Inc.


GENERAL GROWTH: Has Deal Estimating Seaport Plaintiffs Claims
-------------------------------------------------------------
General Growth Properties, Inc., South Street Seaport Limited
Partnership, Seaport Marketplace, LLC, and the "Seaport
Plaintiffs" entered into a stipulation estimating the maximum
aggregate amount of claims filed by the Seaport Plaintiffs against
GGP and the Seaport Debtors.

A list of the Seaport Plaintiffs is available for free at:

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

In November 2004, the Seaport Plaintiffs filed a series of
complaints in the Supreme Court of the State of New York, New York
County, alleging that the Seaport Debtors, among other things,
breached the Seaport Plaintiffs' leases at the property commonly
known as the South Street Seaport.   The Supreme Court Appellate
Division, First Department, later affirmed the dismissal of all
defendants except Seaport L.P. and its general partner, Seaport
Marketplace LLC, and dismissed all claims except for the breach of
lease claims.  Each of the complaints and counterclaims filed by
the parties has been consolidated into a single action before the
New York Supreme Court.

The Seaport Plaintiffs filed 55 claims in these Chapter 11 cases
arising from the Seaport Litigation.

To resolve their disputes, the parties agree that the Seaport
Plaintiffs will file one proof of claim against Seaport
Marketplace, LLC, and one proof of claim against Seaport L.P.  The
Consolidated Proofs of Claim will contain all of the claims of the
Seaport Plaintiffs against the particular Seaport Debtor arising
from the Seaport Litigation.  The Consolidated Proofs of Claim
will be deemed timely filed in the Chapter 11 cases.

The maximum amount asserted on each Consolidated Proof of Claim
will not exceed $20,000,000.  If the Seaport Litigation results in
a recovery for the Seaport Plaintiffs, the Seaport Debtors will be
jointly and severally liable for the total amount of that
judgment; provided, however, that under no circumstances will the
total recovery for the Seaport Plaintiffs arising from the Seaport
Litigation exceed $20,000,000 for all purposes, including
estimation, voting and distribution.

The Seaport Plaintiffs will not file any proofs of claim against
any other Debtors for claims arising from the Seaport Litigation,
other than the Consolidated Proofs of Claim.

The Parties clarify that this stipulation is not an adjudication
of the merits of the Seaport Litigation or the Seaport Claims, as
the Seaport Debtors believe that the Seaport Litigation will
ultimately result in no recovery for the Seaport Plaintiffs.

The Parties' Stipulation will be deemed null and void if it is not
approved by the U.S. Bankruptcy Court for the Southern District of
New York on or before December 31, 2010.
ilable for free
at http://bankrupt.com/misc/ggp_sept2010mor.pdf

                      About General Growth

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

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

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

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

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


GENERAL GROWTH: Proposes to Release Professional Fee Holdbacks
--------------------------------------------------------------
General Growth Properties Inc. and its units seek the Bankruptcy
Court's permission to pay a portion of the substantial holdbacks
of professional fees that have accumulated during the pendency of
their Chapter 11 cases:

                               Current        Proposed
  Period                      Holdback        Holdback
  ------                      --------        --------
  First Interim                  20%              0%
  Second Interim                 20%             10%
  Third Interim                  20%             10%
  Monthly Statements July 2010   20%             10%

In April 2010, the Court adjourned the hearing to consider the
Second Interim Fee Applications until the time the Court
establishes a final fee hearing.  On the instruction of the Court
and with the consent of the Fee Committee, the Second and Third
Interim Fee Applications, along with any further applications for
final allowances, will be considered collectively at the time of
the final fee hearing.  In accordance with the Interim
Compensation Order, the Debtors have continued to pay 80% of the
professional fees and 100% of the expenses incurred during the
Second and Third Interim periods

Specifically, the Debtors seek the Court's permission to promptly
pay:

  (i) the full amount of the holdbacks related to the First
      Interim Fee Applications which have already been fully
      considered and approved by the Court;

(ii) 50% of the amounts held back in connection with the Second
      and Third Interim Fee Applications, reserving 10% of the
      total professional fees sought during these periods to
      allow the Court flexibility to make necessary adjustments
      at the final fee hearing; and

(iii) 50% of the amounts held back in connection with the
      monthly statements filed to cover professional fees for
      services rendered between July and October 2010, reserving
      10% of the total professional fees sought during these
      periods to allow the Court flexibility to make necessary
      adjustments at the final fee hearing.

The Debtors also seek a minor modification of the Interim
Compensation Order to eliminate the requirement that professionals
file fourth interim fee applications.

Releasing certain holdbacks is an appropriate exercise of the
Court's discretion given the successful confirmation of
consensual plans of reorganization for all Debtors and the
significant amount of professional fees withheld throughout the
course of the Chapter 11 cases, Adam P. Strochak, Esq., at Weil,
Gotshal & Manges LLP, in New York, asserts.  As the Court noted
at the confirmation hearing on October 21, 2010, the work of the
Professionals for the Debtors and their creditor and shareholder
constituencies facilitated the successful outcome of the Chapter
11 cases, he relates.

Authorizing the Debtors to promptly pay certain holdbacks will
also permit the Debtors to pay professionals before year end for
services rendered while still maintaining a sufficient reserve
for this Court to make any necessary adjustments at the time of
the final fee hearing, Mr. Strochak insists.

In addition, modification of the Interim Compensation Order will
minimize costs to the Debtors' estates while not detracting from
the ability of the Fee Committee, the U.S. Trustee for Region 3
or any party in interest to review the fees and expenses of the
Professionals in the Debtors' Chapter 11 cases, Mr. Strochak
points out.  Indeed, incorporating the period July 2010 to
October 2010 in the final fee application will save the Debtors'
estates to cost of preparation and review of an unnecessary set
of interim applications, he maintains.

At the Debtors' behest, the Court shortened the notice period on
the Motion to Release and set the Motion to Release for hearing on
November 18, 2010.  Objections are due November 16.

                      About General Growth

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

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

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

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

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


GENERAL MOTORS: Saudi Prince Buys 1% Stake for $500 Million
-----------------------------------------------------------
Dow Jones Newswires' Summer Said reports Saudi Arabia's
billionaire Prince Alwaleed bin Talal said Tuesday he purchased a
$500 million stake in General Motors Co., equal to roughly 1% of
the company.

Dow Jones notes Prince Alwaleed, long the Middle East's wealthiest
businessman, is among foreign investors that bought a chunk of GM
through the company's initial public offering last week.

About 10% of the shares sold in the company's IPO went to
investors outside North America, GM said.

According to Dow Jones, Prince Alwaleed's Kingdom Holding Co. said
the decision to invest was based on "the global strength of the
General Motors brand, the relatively attractive offering price,
and the company's growth prospects in Brazil and China."

GM declined to comment on the prince's stake.

Prince Alwaleed is currently the largest single shareholder in
bailed-out bank Citigroup Inc.

Dow Jones says China's largest auto maker, SAIC Motor Corp.,
bought $500 million of shares in the IPO.  SAIC and GM have had a
partnership in China since the 1990s, where GM now sells more
vehicles than in the U.S.

Dow Jones also relates the Treasury confirmed Tuesday that it
received $11.7 billion in net proceeds from selling 358.5 million
of its GM common shares in the IPO.

                        About General Motors

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

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

At June 30, 2010, GM had $131.899 billion in total assets,
$101.00 billion in total liabilities, $6.998 billion in preferred
stock, and $23.901 billion in stockholders' equity.

New GM has a 'BB-' corporate credit rating from Standard & Poor's
and a 'BB-' issuer default rating from Fitch.

                     About Motors Liquidation

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

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

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


GENERAL MOTORS: APS Also Providing Services to GM Europe
--------------------------------------------------------
Albert A. Koch, a managing director of AlixPartners, LLP, an
affiliate of AP Services, LLC, which has been employed by
General Motors Company as crisis managers in its Chapter 11
cases, disclosed that his firm entered into an amendment to an
engagement letter to provide consulting services to General
Motors Europe in connection with the Opel/Vauxhall business.  The
engagement letter was entered into by AlixPartners and General
Motors Company post-closing of the sale to assist GM and General
Motors Europe with certain performance improvement and integration
tasks.

Mr. Koch says the GME Engagement does not involve matters for GM
directly opposite or in potential conflicts with the Debtors.  He
adds that AlixPartners and APS will continue to ensure that no
confidential information related to one party is disclosed to the
other, except to the extent they obtain mutual client consent.
He assures the Court that APS continues to holds no adverse
interest as to the matters for which it has been employed by the
Debtors.

At the start of the bankruptcy cases, Old GM received approval to
employ, pursuant to Section 363 of the Bankruptcy Code, AP
Services, LLC, as their crisis managers and designate Albert A.
Koch, as chief restructuring officer, nunc pro tunc to the
Petition Date.

As Chief Restructuring Officer, Mr. Koch is assisting the Debtors
in evaluating and implementing strategic and tactical options
through the restructuring process, including any sale of assets.
APS will provide certain temporary staff to assist Mr. Koch and to
facilitate the Debtors in their restructuring efforts.

Mr. Koch and the Temporary Staff also agreed to:

  (a) assist the Debtors and their advisors in the negotiation
      and completion of the sale of assets and operations
      contemplated by the Debtors to a U.S. Treasury-sponsored
      purchaser;

  (b) support the negotiation of, and participate in the review
      of the proposed structure of the Transaction, including
      the assets to be sold and transferred to New GM and the
      liabilities to be assumed by New GM as part of the
      purchase price, and the negotiation and implementation of
      various transitional contractual relationships between the
      Debtors and New GM;

  (c) communicate directly with the Chairman of the Board of
      Directors, and ultimately the entire Board of Directors in
      respect of any issues that APS considers germane to its
      assignments; and

  (d) assist the Debtors in relation to their investment in
      subsidiaries and affiliates and business counterparts and
      any other actions consistent with the Bankruptcy Code and
      applicable authorities.

The Debtors have agreed to pay APS pursuant to the firm's standard
hourly
rates:

  Name                       Rate/Hour
  ----                       ---------
  Managing Directors         $685-$995
  Directors                  $510-$685
  Vice Presidents            $350-$500
  Associates                 $260-$360
  Analysts                   $235-$260
  Paraprofessionals          $180-$200
  Independent Contractors    TBD

Mr. Koch is charging $835 per hour.

The Debtors are also reimbursing APS for all reasonable and
necessary expenses incurred including transportation costs,
lodging, food, telephone, copying and messenger services.

Conditioned upon the completion of a successful sale of a
substantial portion of their assets to New GM pursuant to Section
363 of the Bankruptcy Code, the Debtors agreed to pay APS
$13,000,000, and a fee that will be determined at the Debtors'
sole discretion.  The payment of the Success Fee will be due and
payable accordingly:

  (a) $6,500,000 at closing of the Transaction; and

  (b) $6,500,000 on the first anniversary of the closing of the
      sale.

The Discretionary Fee will be paid as and when directed by the
Debtors.

                       About General Motors

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

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

At June 30, 2010, GM had US$131.899 billion in total assets,
US$101.00 billion in total liabilities, US$6.998 billion in
preferred stock, and US$23.901 billion in stockholders' equity.

New GM has a 'BB-' corporate credit rating from Standard & Poor's
and a 'BB-' issuer default rating from Fitch.

                     About Motors Liquidation

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

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

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


GENERAL MOTORS: LFR Can Hire Outside Consultants
------------------------------------------------
Motors Liquidation Co. and LFR, Inc., entered into a Bankruptcy
Court-approved stipulation to modify certain terms of the firm's
employment, nunc pro tunc to the Petition Date, including:

  (1) LFR is authorized to hire outside consultants, including
      TEA, Inc., for specific tasks in connection with services
      sought by the Debtors; and

  (2) subject to Court approval of LFR's fees and expenses, LFR
      will be entitled to the reimbursement for costs associated
      therewith.

The amendments will address the concerns raised by the Fee
Examiner regarding LFR's use of TEA and other niche
subcontractors.

Motors Liquidation Co. and its affiliates have received approval
from the Bankruptcy Court to hire LFR, Inc., Brownfield Partners,
LLC, and The Claro Group as their environmental management and
consulting services providers, nunc pro tunc to the Petition Date.

LFR and Brownfield are assisting the Debtors in:

  * determining the costs of actual or potential environmental
    liabilities arising from the Debtors' prepetition, historic
    operations;

  * strategic planning related to optimization of asset value
    net of environmental costs and disposition of
    environmentally impaired assets; and

  * management support of environmental management or compliance
    activities.

LFR will be paid in accordance with these hourly rates:

  LFR Professional               Hourly Rate
  ----------------               -----------
  Corporate Officer                 $335
  Principal                         $200
  Senior Associate                  $184
  Senior                            $168
  Senior Project                    $152
  Project                           $137
  Senior Staff                      $115
  Staff II                          $102
  Staff I                            $89
  Reproduction/Admin                 $54
  Information Systems/
   Database Specialist           $64 to $100
  Field and Technical
   Support                       $57 to $98
  Engineering Design/CADD        $67 to $94
  Project Assistant/
   Admin Support                 $62 to $94
  Construction Engineering       $87 to $92
  Technical Editor               $70 to $91

The Debtors will also reimburse LFR and Brownfield's out-of-pocket
expenses.

                       About General Motors

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

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

At June 30, 2010, GM had US$131.899 billion in total assets,
US$101.00 billion in total liabilities, US$6.998 billion in
preferred stock, and US$23.901 billion in stockholders' equity.

New GM has a 'BB-' corporate credit rating from Standard & Poor's
and a 'BB-' issuer default rating from Fitch.

                     About Motors Liquidation

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

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

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


GENERAL MOTORS: Ramp Chevrolet Says Motion vs. New GM Warranted
---------------------------------------------------------------
General Motors, LLC, is asking the U.S. Bankruptcy Court for the
Southern District of New York to enforce against Ramp Chevrolet,
Inc., the wind-down agreement approved in Old GM's bankruptcy
cases.

Despite New GM making clear in Ramp's bankruptcy proceeding that
any dispute concerning the Wind-Down Agreements, including New
GM's calculation of the amount of the final wind-down payment,
must be adjudicated in the GM Bankruptcy Court, Ramp Chevrolet
filed before the Ramp Bankruptcy Court a contempt motion against
New GM based on New GM's calculation of the final Wind-Down
Payment based on the Wind-Down Agreements, Arthur Steinberg,
Esq., at King & Spalding LLP, in New York, counsel to New GM,
contends.

General Motors LLC or New GM is not only seeking to "enforce" the
Sale Order, it is seeking to prohibit Ramp Chevrolet, Inc., a
debtor-in-possession, from exercising its rights under the
Bankruptcy Code to object to New GM's proof of claim and,
prohibiting the U.S. Bankruptcy Court for the Eastern District of
New York from exercising a core function of adjudicating the GM
Claim, Eric J. Snyder, Esq., at Wilk Auslander LLP, in New York --
esnyder@wilkauslander.com -- counsel to Ramp Chevrolet, contends,
in response to New GM's allegations.

Mr. Snyder points out that New GM provides no basis that would
allow the GM Bankruptcy Court to grant this extraordinary form of
relief.  The issues presented in the Ramp Objection relate solely
to issues of law and, since the claims adjudication process is a
core function, the Ramp Bankruptcy Court has jurisdiction over the
Ramp Objection, Mr. Snyder clarifies.  Judge Robert E. Grossman,
who oversees Ramp's Chapter 11 case, has already determined, in
the context of the Ramp Objection, that he will opine as to
whether the Ramp Objection requires an interpretation of the Wind-
Down Agreement.  If that interpretation is necessary, Judge
Grossman stated that he would defer to the jurisdiction of the GM
Bankruptcy Court to make that determination.  Thus, until Judge
Grossman has made that threshold determination, it is premature
for New GM to seek a determination in the GM Bankruptcy Court, Mr.
Snyder asserts.

Mr. Snyder further argues that New GM did not preserve its set-off
rights under the WDA because it neither (i) sought intervention by
the GM Bankruptcy Court when Ramp filed a motion to assume the
WDA; nor (ii) objected to the Assumption Motion.  "New GM cannot
now seek to assert it set-off rights under the doctrine of res
judicata, estoppel and waiver," he insists.  Moreover, by filing
the GM Claim in the Ramp Bankruptcy Court, New GM consented to the
jurisdiction of the Ramp Bankruptcy Court to adjudicate its rights
under the GM Claim, he points out.  Thus, New GM is estopped from
arguing that the GM Bankruptcy Court has exclusive jurisdiction,
he maintains.

Accordingly, Ramp Chevrolet urges Judge Gerber to (i) defer
consideration of the Motion to Enforce until Judge Grossman has
ruled on the Ramp Objection; or (ii) deny the Motion to Enforce

"By focusing on the fact that it is a debtor in bankruptcy seeking
to assert bankruptcy-based defenses, Ramp conflates the issue of
the appropriate forum and the merits of its claims, Mr. Steinberg
argues," New GM's counsel, Arthur Steinberg, Esq., at King &
Spalding LLP, in New York, argues.

As the GM Bankruptcy Court has previously decided, the starting
point for the forum analysis is the WDAs that Ramp executed and
that the GM Bankruptcy Court approved in its 363 Sale Order,
agreements the GM Bankruptcy Court specifically found constituted
"valid and binding contracts, enforceable in accordance with their
terms," Mr. Steinberg insists.

Mr. Steinberg further notes that at an October 27, 2010 hearing
before the Ramp Bankruptcy Court, Ramp asserted that its
assumption of the WDA did not matter because assumption does not
vitiate its ability to assert defenses under Section 553 of the
Bankruptcy Code.  While the Ramp Bankruptcy Court recently
identified the implication of Ramp's assumption of the WDA as a
threshold question that determination still requires consideration
of the parties' respective rights and obligations under the WDAs,
a dispute that the WDAs expressly provide are to be resolved in
the GM Bankruptcy Court, he asserts.

Ramp now asserts that its assumption motion itself was an
adjudication of disputed terms of the WDA and New GM is now barred
from asserting otherwise.  If Ramp intended the assumption motion
to be an enforceable and binding adjudication of New GM's rights
under the WDA, then Ramp specifically violated of the WDA because
that motion was required to be brought in the GM Bankruptcy Court,
Mr. Steinberg contends.  New GM viewed assumption as effectively a
ratification of the WDA, rather than resolution of any controversy
implicating the GM Bankruptcy Court's reservation of exclusive
jurisdiction, he points out.

"Recognizing that it cannot avoid the implication of its
assumption, Ramp now grossly mischaracterizes the Assumption
Motion and the Assumption Order," Mr. Steinberg tells the GM
Bankruptcy Court.  Not only did the Assumption Motion not
challenge the enforceability of the terms of the WDAs, but the
Assumption Order specifically provides that any payment
responsibility by New GM was "pursuant to the terms" of the WDA,
he points out.

                         *     *     *

As a separate matter, Johnny K. Domiano, Jr., Esq., at Adams and
Reese, LLP, in New Orleans, Louisiana -- johnny.domiano@arlaw.com
-- on behalf of Leson Chevrolet Company, Inc., filed with the
Court a declaration appending a copy of a letter from Edwin A.
Stoutz, Esq., of Stoutz & Stoutz to the Louisiana Motor Vehicle
Commission, directing the Commission to dismiss the action filed
by Leson.  The declaration is in compliance with the Court's
November 2, 2010, order directing Leson to, among other things,
file evidence of dismissal of the Leson Action immediately.

                       About General Motors

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

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

At June 30, 2010, GM had US$131.899 billion in total assets,
US$101.00 billion in total liabilities, US$6.998 billion in
preferred stock, and US$23.901 billion in stockholders' equity.

New GM has a 'BB-' corporate credit rating from Standard & Poor's
and a 'BB-' issuer default rating from Fitch.

                     About Motors Liquidation

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

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

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


GLOBAL CROSSING: Completes $150MM Private Offering of Sr. Notes
---------------------------------------------------------------
Global Crossing Limited has completed its offering of $150 million
in aggregate principal amount of its 9% senior notes due 2019 in a
private offering to qualified institutional buyers in accordance
with Rule 144A and Regulation S under the Securities Act of 1933,
as amended.

Global Crossing intends to use net proceeds of the offering to
refinance Global Crossing Limited's 5% Convertible Senior Notes
due 2011 and to pay related premium, fees and expenses.  In
addition, today Global Crossing called for redemption all $144
million of such 5% Convertible Senior Notes outstanding, which in
accordance with the applicable indenture are being redeemed at
101% of principal amount.  The redemption date is December 16,
2010.

                        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.


GOLDEN EAGLE: Delays Filing of Quarterly Report on Form 10-Q
------------------------------------------------------------
Golden Eagle International Inc. said it could not timely file its
quarterly report on Form 10-Q for the period ended Sept. 30, 2010,
because of a change in the Company's auditor within the  period,
which has adversely affected the financial review of the Company's
10-Q.

Golden Eagle reported a net loss of $345,607 on zero revenues for
the three months ended June 30, 2010, compared with a net loss of
$495,411 on $3.36 million of revenues for the same period a year
earlier.

                           Going Concern

Chisholm, Bierwolf, Nilson & Morrill, in Bountiful, Utah,
expressed substantial doubt about the Company's ability to
continue as a going concern.  The independent auditors noted that
the Company has a significant working capital deficit, has
incurred significant losses since inception, and is dependent of
financing to continue operations.

The Company's balance sheet at June 30, 2010, showed $5.16 million
in total assets, $3.19 million in total liabilities, and
$1.97 million in stockholders' equity.

                          About Golden Eagle

Based in Salt Lake City, Golden Eagle International, Inc. Golden
Eagle International, Inc. (OTC BB: MYNG) was previously focused on
minerals exploration and mining and milling operations in Bolivia
through its Bolivian-based wholly-owned subsidiary, Golden Eagle
International, Inc. (Bolivia).  However, in late 2008 the Company
suspended these operations, and in March 2010 transferred control
of its Bolivian assets and operations to an unaffiliated third
party.  The Company expects to transfer ownership of those assets
and operations during the second quarter of 2010, although there
can be no assurance that it will be able to complete the
transactions with the purchaser.


GREATER SALEM: Files for Chapter 11 After Properties Auctioned Off
------------------------------------------------------------------
Greater Salem Church filed for Chapter 11 protection on November
19, 2010 (Bankr. W.D. N.C. Case No. 10-33445).

The Charlotte Observer reports that Greater Salem Church filed its
bankruptcy petition after its properties were auctioned off in a
foreclosure sale.

The Debtor disclosed assets of $5.1 million and liabilities of
about $5 million.  The Church said it owes $4.9 million to
Evangelical Christian Credit Union; $33,775, Internal Revenue
Service; $16,118, Church Mutual Insurance; and $18,000, Sherrill &
Emehel, PA.

The Charlotte Observer relates that Evangelical Christian made a
$5.1 million bid for Greater Salem's main building and two related
properties at a November 12 foreclosure auction.

The report relates that months earlier, the Evangelical Christian
had foreclosed on the properties after Greater Salem defaulted on
a $5 million loan it received in July 2008.  The initial
foreclosure documents filed in August said the church had not made
a full payment on the note since September 2009.


GREATER SALEM: Case Summary & 10 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Greater Salem Church
        5318 Salem Church Road
        Charlotte, NC 28216

Bankruptcy Case No.: 10-33445

Chapter 11 Petition Date: November 19, 2010

Court: United States Bankruptcy Court
       Western District of North Carolina (Charlotte)

Judge: George R. Hodges

Debtor's Counsel: Richard M. Mitchell, Esq.
                  MITCHELL & CULP, PLLC
                  1001 Morehead Square Drive, Suite 330
                  Charlotte, NC 28203
                  Tel: (704) 333-0630
                  Fax: (704) 333-4975
                  E-mail: rmmatty@mitchellculp.com

Scheduled Assets: $5,100,000

Scheduled Debts: $4,993,508

A list of the Company's 10 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/ncwb10-33445.pdf

The petition was signed by Blease L. Turner, vice chairman.


GREENWICH SENTRY: Aims to File Ch. 11 Plan to Settle Suits
----------------------------------------------------------
Greenwich Sentry, L.P., and an affiliate filed for Chapter 11
protection on November 19, 2010 (Bankr. S.D.N.Y. Case No.
10-16229) hoping to settle lawsuits filed against it in connection
with its investments with Bernard L. Madoff.  An affiliate,
Fairfield Sentry Limited, filed for Chapter 11 protection in June
2010 (Bankr. S.D.N.Y. Case No. 10-13164).

Mark McKeefry, general counsel and assistant secretary of
Fairfield Greenwich (Bermuda), Ltd., a general partner of the
Debtors, said in a court filing, "The principal purpose of these
Chapter 11 cases is to preserve the remaining assets of the
Debtors' estates for the benefit of their creditors and other
parties in interest, rather than dissipating those assets in the
defense of the various litigations . . . or which may be commenced
in the future.  The Debtors intend to seek a comprehensive
settlement of all litigation that may ultimately impact the
Debtors and their estates."

Mr. McKeefry added, "The Debtors anticipate that if such
settlements are reached, they would be accomplished through a
joint plan of reorganization that would provide the maximum
protections available under applicable law to the non-debtors that
ultimately agree to make substantial contributions to funding the
costs of those settlements.  Only by stanching the substantial and
debilitating costs of litigation that are being incurred not only
by the Debtors, but also by their affiliates and associated
personnel, can maximum value be delivered to the parties holding
valid claims.  It is, therefore, expected that the protections
afforded by Chapter 11 will allow the Debtors to maximize the
value available not only from the Debtors, but also from their
affiliates and associated personnel, for the benefit of all
stakeholders."

Irving H. Picard, the trustee for the Madoff estate, has filed a
lawsuit seeking to recover $206 million that the Debtors have
received from phony profits in Mr. Madoff's Ponzi scheme.  In
addition, the Debtors are parties in several civil actions,
pending in various courts and in different states of litigation,
arising out of their accounts at BLMIS.

Greenwich Sentry itself has filed a customer claim against
Mr. Picard for approximately $314 million basing from the last
account statements it received from Bernard L. Madoff Investment
Securities LLC.

Greenwich and its affiliates operate as private investment
partnerships.

Greenwich Sentry wants the bankruptcy court to enforce a stay of
the civil suits.


GREENWICH SENTRY: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Greenwich Sentry, L.P.
        575 Madison Avenue, 8th Floor
        New York, NY 10022

Bankruptcy Case No.: 10-16229

Chapter 11 Petition Date: November 19, 2010

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Debtor's Counsel: Paul R. DeFilippo, Esq.
                  WOLLMUTH MAHER & DEUTSCH LLP
                  500 Fifth Avenue, 12th Floor
                  New York, NY 10110
                  Tel: (212) 382-3300
                  Fax: (212) 382-0050
                  E-mail: pdefilippo@wmd-law.com

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

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

The petition was signed by Jeffrey Tucker, director of Fairfield
Greenwich (Bermuda), Ltd., general partner.

The Debtor did not file its list of largest unsecured creditors
when it filed its petition.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Fairfield Sentry Limited               10-13164   06/14/10
Greenwich Sentry Partners, L.P.        10-16230   11/19/10
  Assets: $1,000,001 to $10,000,000
  Debts: $1,000,001 to $10,000,000


GUANGZHOU GLOBAL: Earns $198,807 in September 30 Quarter
--------------------------------------------------------
Guangzhou Global Telecom Inc. filed its quarterly report on Form
10-Q, reporting net income of $198,807 on $9.18 million of sales
for the three months ended Sept. 30, 2010, compared with a net
loss of $79,948 on $6.39 million of sales for the same period a
year earlier.

The Company's balance sheet at Sept. 30, 2010, showed
$2.43 million in total assets, $5.31 million in total liabilities,
and a stockholders' deficit of $2.88 million.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6f72

                      About Guangzhou Global

Tallahassee, Fl.-based Guangzhou Global Telecom, Inc., was
incorporated as Avalon Development Enterprises, Inc., on March 29,
1999, under the laws of the State of Florida.  The Company,
through its subsidiaries, is now principally engaged in the
distribution and trading of rechargeable phone cards, cellular
phones and accessories within cities in the People's Republic of
China.


GULF STATES: LAD/Northlake Claims Disallowed as Untimely
--------------------------------------------------------
The Hon. Elizabeth W. Magner disallows as untimely Claim 54 filed
by the Louisiana Acute Dialysis Services and Claim 56 filed by
Northlake Nephrology/Dr. John Simon in the bankruptcy case of Gulf
States Long Term Acute Care of Covington.

On September 15, 2009, LADS filed Claim 54 for $17,385.92, and
Northlake filed Claim 56 for $28,500.

The Debtor objected to Claim 54, 55, 56, and 59.  At the hearing
on October 12, 2010, Claim 55 and 59 were withdrawn by oral
motion.

Dr. Simon is the owner of LADS and Northlake.  July 31, 2009, was
the deadline for non-governmental parties to file proofs of claim.
Both Dr. Simon and LADS were served with the Notice of Bar Date.
Northlake was not.

A copy of the Court's Reasons for Decision, dated November 19,
2010, is available at http://is.gd/hDnWofrom Leagle.com.

Based in Covington, Louisiana, Gulf States Long Term Acute Care of
Covington, LLC, filed for Chapter 11 bankruptcy protection (Bankr.
E.D. La. Case No. 09-11116) on April 20, 2009.  William E.
Steffes, Esq., at Steffes Vingiello & McKenzie LLC, in Baton
Rouge, Louisiana, served as the Debtor's counsel.  In its
petition, the Debtor estimated $0 to $50,000 in assets, and
$1 million to $10 million in debts.  The Debtor's plan of
reorganization was confirmed on February 22, 2010.


HANMI FINANCIAL: Gets Waiver from Woori on Securities Deal
----------------------------------------------------------
On November 15, 2010, Hanmi Financial Corporation received a
waiver from Woori Finance Holdings Co. Ltd. with respect to the
exclusivity provisions of the Securities Purchase Agreement dated
May 25, 2010, as amended by Amendment No. 1 to Securities Purchase
Agreement dated September 30, 2010.

The waiver allows Hanmi to pursue, if needed, further fundraising
efforts and/or alternative proposals to acquire control of the
Company.  Although the Outside Date in the Agreement is
November 15, 2010, the agreement remains effective and the parties
are currently negotiating the terms of a potential amendment while
Woori is seeking regulatory approvals.  However, no assurances can
be given as to whether the parties will reach an agreement on such
an amendment or what the terms of such an amendment may be, or
that the necessary regulatory approvals will be granted or, if
granted, within what time frame or with which conditions such
regulatory approvals will be granted.

                      About Hanmi Financial

Headquartered in Los Angeles, Hanmi Financial Corp. (Nasdaq: HAFC)
-- http://www.hanmi.com/-- is the holding company for
Hanmi Bank, a state chartered bank with headquarters located at
3660 Wilshire Boulevard, Penthouse Suite A, in Los Angeles.
Hanmi Bank provides services to the multi-ethnic communities of
California, with 27 full-service offices in Los Angeles, Orange,
San Bernardino, San Francisco, Santa Clara and San Diego counties,
and a loan production office in Washington State.

As reported in the Troubled Company Reporter on March 17, 2010,
KPMG LLP, in Los Angeles, expressed substantial doubt about the
Company's ability to continue as a going concern, following its
2009 results.  The independent auditors noted the Company and its
wholly-owned subsidiary Hanmi Bank, are currently operating under
a formal supervisory agreement with the Federal Reserve Bank of
San Francisco and the California Department of Financial
Institutions, which restricts certain operations of the Company
and requires the Company to, among other things, increase
contributed equity capital at Hanmi Bank by $100 million by
July 31, 2010, and achieve specified capital ratios by July 31,
2010, and December 31, 2010.


HARVEY RUSSELL: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Harvey Russell Auto World, Inc.
        1210 S. Gloster Street
        Tupelo, MS 38801

Bankruptcy Case No.: 10-15732

Chapter 11 Petition Date: November 19, 2010

Court: United States Bankruptcy Court
       Northern District of Mississippi (Aberdeen)

Judge: David W. Houston III

Debtor's Counsel: Craig M. Geno, Esq.
                  HARRIS JERNIGAN & GENO, PLLC
                  P.O. Box 3380
                  Ridgeland, MS 39158-3380
                  Tel: (601) 427-0048
                  E-mail: cmgeno@harrisgeno.com

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

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

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

The petition was signed by Harvey Russell, president.


HEALTHSPORT INC: Posts $914,300 Net Loss in September 30 Quarter
----------------------------------------------------------------
HealthSport, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $914,329 on $0 revenue for the three
months ended September 30, 2010, compared with a net loss of
$1.30 million on $91,623 of revenue for the same period of 2009.

At September 30, 2010, the Company had a working capital deficit
of $4.12 million.  The Company has incurred substantial losses to
date and has an accumulated deficit at September 30, 2010, of
$67.10 million.  The Company these conditions raise substantial
doubt about its ability to continue as a going concern.

The Company's balance sheet as of September 30, 2010, showed
$9.85 million in total assets, $4.58 million in total liabilities,
and stockholders' equity of $5.27 million.

Rose, Snyder & Jacobs, in Encino, 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 that the Company has incurred significant operating losses
and negative cash flows from operations during the year ended
December 31, 2009.

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

               http://researcharchives.com/t/s?6f6b

Woodland Hills, Calif.-based HealthSport, Inc. (OTC BB: HSPO) --
http://www.healthsportinc.com/ -- is a technology company
specializing in the development and manufacture of proprietary,
oral thin film products for the delivery of nutritional
supplements and pharmaceuticals.


HOLY TEMPLE: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Holy Temple Pentecostal Church of God
        aka Holy Temple Ministries
        740 Great Bridge Blvd
        Chesapeake, VA 23320

Bankruptcy Case No.: 10-75491

Chapter 11 Petition Date: November 18, 2010

Court: United States Bankruptcy Court
       Eastern District of Virginia (Norfolk)

Judge: Stephen C. St. John

Debtor's Counsel: Seth A. Schoenfeld, Esq.
                  JOHN W. LEE, P.C.
                  291 Independence Blvd., Suite 530
                  Virginia Beach, VA 23462
                  Tel: (757) 961-8553
                  Fax: (757) 961-3488
                  E-mail: sas74a@aol.com

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

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

A list of the Company's three largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/vaeb10-75491.pdf

The petition was signed by James D. Brinkley Jr., trustee.


HONOLULU SYMPHONY: Mulling Conversion to Ch. 7 Liquidation
----------------------------------------------------------
James R. George at Pacific Business News reports that Honolulu
Symphony Society is considering changing its Chapter 11 bankruptcy
to a Chapter 7 liquidation.

"At this time, the board of directors of the Honolulu Symphony
Society will take no action on a decision about the future of the
organization until after the Dec. 13 court hearing.  The board of
directors, with legal counsel, continues to evaluate all options,
including Chapter 7.  Financial sustainability for the future and
viability for the present will remain key factors in any
decision," Mr. George quotes Symphony Society Executive Director
Majken Mechling as stating.

Honolulu Symphony filed for Chapter 11 protection on Dec. 18, 2009
in its hometown (Bankr. D. Hawaii Case No. 09-02978), saying
assets are less than $500,000 while debt exceeds $1 million.  The
symphony blamed the filing on a decline in donations which left
the orchestra unable to cover costs, since ticket sales represent
only 30% of the budget.  The symphony said it would use Chapter 11
to reorganize fundraising activities.


HYTHIAM INC: Incurs $1.94 Million Net Loss in Sept. 30 Quarter
--------------------------------------------------------------
Hythiam Inc. filed its quarterly report on Form 10-Q, reporting a
net loss of $1.94 million on $104,000 of total revenue for the
three months ended Sept. 30, 2010, compared with a net loss of
$8.84 million on $268,000 of total revenue for the same period a
year ago.

The Company's balance sheet at Sept. 30, 2010, showed
$3.48 million in total assets, $4.11 million in total liabilities,
and a stockholders' deficit of $634,000.  Stockholders' deficit
was $588,000 at June 30, 2010.

As reported in the Troubled Company Reporter on April 19, 2010,
BDO Seidman, LLP, in Los Angeles, 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 from operations and
negative cash flows from operating activities.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6f70

                       About Hythiam, Inc.

Based in Los Angeles, Hythiam, Inc., is a healthcare services
management company, providing through its Catasys(R) subsidiary
specialized behavioral health management services for substance
abuse to health plans.


IAP WORLDWIDE: S&P Raises Corporate Credit Rating to 'B'
--------------------------------------------------------
Standard & Poor's Ratings Services said it has raised its ratings
on Cape Canaveral, Florida-based IAP Worldwide Services Inc.,
including the corporate credit rating, to 'B' from 'B-'.  The
outlook is stable.

"The rating action reflects IAP's improved operating performance
and adequate liquidity profile, resulting in credit measures that
justify a higher rating," said Standard & Poor's credit analyst
Dan Picciotto.  "The ratings also reflect S&P's expectation that
IAP's EBITDA will not decline meaningfully in the upcoming year
such that covenant headroom declines to less than 20%," he
continued.  S&P considers the company's financial risk profile to
be highly leveraged, based in part on its view that IAP's owner,
Cerberus Capital Management L.P., could pursue very aggressive
financial policies.

The ratings on IAP also reflect the company's weak business risk
profile, marked by revenue concentration from large contracts and
the less-predictable nature of contingency operations.

IAP provides contingency operations, facilities management, and
technical services to the U.S. military and civilian agencies and
has close to $1.2 billion in annual revenues.  Revenues and
margins can vary based on the size of certain high-margin
contingency operations.  To a lesser extent, they depend on the
operations and maintenance portion of the overall U.S. defense
budget.  Governmental delays in appropriations can hurt operating
results, and the company has thin margins.

Liquidity is adequate under S&P's criteria.  The company has a
good cash balance, about $70 million as of Sept. 30, 2010.

The outlook is stable.  At the current ratings, S&P expects IAP to
maintain adequate liquidity, including good headroom under
covenants, and to generate positive free cash flow.  S&P could
raise the corporate credit rating if S&P believed that Cerberus
Capital was likely to adopt a less aggressive financial policy and
that IAP's profits would not depend meaningfully on potentially
volatile emergency disaster relief services.

On the other hand, S&P could lower the ratings if liquidity became
less than adequate.  For instance, S&P could lower the ratings if
headroom under covenants fell below 20% and S&P expected further
deterioration in operating performance.


IKECHUKWU IBEANUSI: Case Summary & 15 Largest Unsecured Creditors
-----------------------------------------------------------------
Joint Debtors: Ikechukwu U. Ibeanusi
               Pearl N. Ibeanusi
               3805 Adriatic Way
               San Bruno, CA 94066

Bankruptcy Case No.: 10-34582

Chapter 11 Petition Date: November 19, 2010

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

Judge: Dennis Montali

Debtors' Counsel: Robert G. Jackson, Esq.
                  LAW OFFICES OF ROBERT G. JACKSON
                  2171 Junipero Serra Boulevard, #620
                  Daly City, CA 94014
                  Tel: (650) 757-6422
                  E-mail: robgjackson@yahoo.com

Estimated Assets: $0 to $50,000

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

A list of the Joint Debtors' 15 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/canb10-34582.pdf


IMEDICOR INC: Incurs $1.61 Million Net Loss in Sept. 30 Quarter
---------------------------------------------------------------
iMedicor, Inc., formerly Vemics, Inc., filed its quarterly report
on Form 10-Q, reporting a net loss of $1.61 million on $48,597 of
revenues for the three months ended Sept. 30, 2010, compared with
a net loss of $2.61 million on $65,832 of revenues for the same
period a year ago.

The Company's balance sheet at Sept. 30, 2010, showed
$4.62 million in total assets, $8.78 million in total liabilities,
and a stockholders' deficit of $4.15 million.

Demetrius & Company, L.L.C., in Wayne, N.J., 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 the Company has incurred operating losses since its
inception and has a net working capital deficit.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6f6f

                       About iMedicor Inc.

Nanuet, N.Y.-based iMedicor, Inc., formerly Vemics, Inc., builds
portal-based, virtual work and learning environments in healthcare
and related industries.  The Company's focus is twofold: iMedicor,
the Company's web-based portal which allows Physicians and other
healthcare providers to exchange patient specific healthcare
information via the internet while maintaining compliance with all
Health Insurance Portability and Accountability Act of 1996
("HIPAA") regulations, and; recently acquired ClearLobby
technology, the Company's web-based portal adjunct which provides
for direct communications between pharmaceutical companies and
physicians for the dissemination of information on new drugs
without the costs related to direct sales forces.  The Company's
solutions allow physicians to use the internet in ways previously
unavailable to them due to HIPAA restrictions to quickly and cost-
effectively exchange and share patient medical information and to
interact with pharmaceutical companies and review information on
new drugs offered by these companies at a time of their choosing.


IMPLANT SCIENCES: Delays Filing of Form 10-Q for Sept. 30 Qtr.
--------------------------------------------------------------
Implant Sciences Corporation said it could not timely file its
quarterly report on Form 10-Q with the Securities and Exchange
Commission.

The Company said it was unable, without unreasonable effort and
expense, to prepare its accounting records and schedules in
sufficient time to enable its independent registered public
accounting firm to complete its review of its financial statements
to be contained in its Quarterly Report on Form 10-Q for the
period ended September 30, 2010.

Implant Sciences also said in October that it could not timely
file its annual report on Form 10-K for the fiscal year ended
June 30, 2010.

                      About Implant Sciences

Implant Sciences Corporation (OBB: IMSC.OB) --
http://www.implantsciences.com/-- develops, manufactures and
sells sensors and systems for the security, safety and defense
(SS&D) industries.

The Company's balance sheet at March 31, 2010, showed
$6.22 million in total assets and $15.34 million in total
liabilities and $5 million in series E convertible preferred
stock, for a stockholders' deficit of $14.12 million.

As reported by the Troubled Company Reporter on January 15, 2010,
Implant Sciences renegotiated its credit agreements with its
senior secured investor, DMRJ Group LLC.  DMRJ increased Implant
Sciences' line of credit from $3,000,000 to $5,000,000; extended
the maturity of all of Implant Sciences' indebtedness from
December 10, 2009, to June 10, 2010; waived all existing defaults
through the new maturity date; reduced the interest rate payable
on Implant Sciences' obligations to 15% per annum; and removed all
profit sharing arrangements from the agreements.  Implant
Sciences' total indebtedness to DMRJ, including all principal and
accrued interest, now stands at $7,570,000.


INCREDIBLE PETS: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Incredible Pets, U.S.A., Inc.
        dba Pets O Rama
        1616 E. Main Street
        Waxahachie, TX 75165

Bankruptcy Case No.: 10-38120

Chapter 11 Petition Date: November 18, 2010

Court: United States Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Stacey G. Jernigan

Debtor's Counsel: Linda S. LaRue, Esq.
                  QUILLING, SELANDER, CUMMISKEY & LOWNDS
                  2001 Bryan Street, Suite 1800
                  Dallas, TX 75201
                  Tel: (214) 871-2100
                  Fax: (214) 871-2111
                  E-mail: llarue@qsclpc.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txnb10-38120.pdf

The petition was signed by Lammert DeHaan, president.


INOVA TECHNOLOGY: Starts Work on $350,000 Projects
--------------------------------------------------
Inova Technology has commenced work on two network solutions
projects for Ft. Hancock Independent School District that have a
combined value of approximately $350,000.  The projects are
expected to be completed by the end of the calendar year.

"The Ft Hancock projects are one of several major projects that we
are implementing right now. Everyone at Desert is working very
hard in order to get these projects completed as quickly as
possible in order to be able to start working on numerous other
projects in our pipeline", said CEO, Mr. Adam Radly.

Inova currently has several projects in its pipeline -- including
several that are larger than the Ft Hancock projects -- and will
provide more detailed information about its pipeline before the
end of calendar 2010.

                      About Inova Technology

Based in Las Vegas, Nevada, Inova Technology, Inc. (OTC BB: INVA)
-- http://www.inovatechnology.com/-- through its subsidiaries,
provides information technology (IT) consulting services in the
United States.  It also manufactures radio frequency
identification (RFID) equipment; and provides computer network
solutions.  The company was formerly known as Edgetech Services
Inc. and changed its name to Inova Technology, Inc., in 2007.

The Company's balance sheet at July 31, 2010, showed
$11.86 million in total assets, $16.72 million in total
liabilities, and a stockholders' deficit of $4.86 million.

As reported in the Troubled Company Reporter on August 26, 2010,
MaloneBailey, LLP, in Houston, expressed substantial doubt about
the Company's ability to continue as a going concern, following
its results for the fiscal year ended April 30, 2010.  The
independent auditors noted that Inova incurred losses from
operations for fiscal 2010 and 2009 and has a working capital
deficit as of April 30, 2010.


JOHN BARTUCCI: Case Summary & 6 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: John J. Bartucci
        42 East Pleasant Grove Road
        Jackson, NJ 08527

Bankruptcy Case No.: 10-45774

Chapter 11 Petition Date: November 18, 2010

Court: United States Bankruptcy Court
       District of New Jersey (Trenton)

Judge: Raymond T. Lyons Jr.

Debtor's Counsel: Eugene D. Roth, Esq.
                  LAW OFFICE OF EUGENE D. ROTH
                  Valley Pk. East
                  2520 Hwy 35, Suite 307
                  Manasquan, NJ 08736
                  Tel: (732) 292-9288
                  Fax: (732) 292-9303
                  E-mail: erothesq@gmail.com

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

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

A list of the Debtor's six largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/njb10-45774.pdf


JORGE MARTINEZ: Case Summary & 18 Largest Unsecured Creditors
-------------------------------------------------------------
Joint Debtors: Jorge A. Martinez
               Darlene C. Martinez
               4847 N. Skyline Drive
               Eagle, ID 83616

Bankruptcy Case No.: 10-03802

Chapter 11 Petition Date: November 18, 2010

Court: United States Bankruptcy Court
       District of Idaho (Boise)

Judge: Terry L. Myers

Debtor's Counsel: D Blair Clark, Esq.
                  1513 Tyrell Lane, Suite 130
                  Boise, ID 83706
                  Tel: (208) 475-2050
                  Fax: (208) 475-2055
                  E-mail: dbc@dbclarklaw.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' 18 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/idb10-03802.pdf


JOSE BARRIONUEVO: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Joint Debtors: Jose L. Barrionuevo
                 aka Jose Luis Barrionuevo
                 fdba International Marketing Systems
                      Barrionuevo Insurance Agency
                      Finanzas Exito Y Mas
                      General Hispanic Financial Services
               Flor M. Barrionuevo
                 aka Flor De Maria Barrionuevo
               5931 Annandale Way
               Dublin, CA 94568

Bankruptcy Case No.: 10-73313

Chapter 11 Petition Date: November 18, 2010

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

Judge: Edward D. Jellen

Debtors' Counsel: Ronda N. Edgar, Esq.
                  LAW OFFICES OF RONDA N. EDGAR
                  675 N. 1st Street, #700
                  San Jose, CA 95112
                  Tel: (408) 573-1222
                  E-mail: rondaedgar@yahoo.com

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

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

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/canb10-73313.pdf


JUMBOLAIR INC: Taylor Bean Court Approves Sale of Mortgage Loan
---------------------------------------------------------------
Eric Morath, writing for Dow Jones' Daily Bankruptcy Review,
reports that a bankruptcy judge on Friday cleared Taylor Bean &
Whitaker Mortgage Corp. to sell a mortgage loan for Jumbolair
Inc., a private Ocala, Fla., runway and luxury-housing
development, at a bankruptcy-court auction for $2.11 million.

DBR reports an entity called Jumbo Holding LLC outbid Gissy
Holdings II LLC to gain control of the property, according to
court papers filed in the Jacksonville bankruptcy court.

DBR says the sale has the potential to restart development in the
luxury community, where both sedans and Cessnas can roll through
the neighborhood.

DBR notes according to court papers, Jumbolair hasn't made
payments on its $7.36 million mortgage since January 2009, but
Taylor Bean's bankruptcy stalled foreclosure efforts.  The loan is
secured by a lien on the 7,550-foot paved airstrip and other
community property, but not the land and homes owned by the
residents.  With the loan sold, foreclosure on the property, and
eventually new home building, can begin.

                          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.


LACK'S STORES: Court Extends Filing of Schedules Until Jan. 1
-------------------------------------------------------------
The Hon. Jeff Bohm of the U.S. Bankruptcy Court for the Southern
District of Texas extended, at the behest of Lack's Stores,
Incorporated, et al., the deadline for the filing of schedules of
assets and liabilities and statements of financial affairs for an
additional 31 days, through January 1, 2011.

The Debtors said that due to the size and complexity of their
businesses and their prepetition focus on restructuring their
financial affairs, they have not yet had a sufficient opportunity
to complete the drafting of Schedules and Statements and do not
anticipate having the Schedules and Statements ready for filing
within the 14-day period prescribed by Bankruptcy Rule 1007(c).

                        About Lack's Stores

Victoria, Texas-based Lack's Stores, Incorporated, is one of the
largest, independently-owned retail furniture chains in the United
States.  Lack's Stores is a chain of 36 retail stores and operates
under the trade styles Lacks and Lacks Home Furnishings.  The
Company sells a complete line of furnishings for the home
including furniture, bedding, major appliances and home
electronics.  The stores are located in South, Central, and West
Texas.

Lack's Stores filed for Chapter 11 bankruptcy protection on
November 16, 2010 (Bankr. S.D. Tex. Case No. 10-60149).  Katherine
D. Grissel, Esq., Michaela Christine Crocker, Esq., and Richard H.
London, Esq., at Vinson & Elkins LLP, assist the Debtor in its
restructuring effort.  The Debtor estimated its assets and debts
at $100 million to $500 million.

Affiliates Lack Properties, Inc., Lack's Furniture Centers, Inc.,
and Merchandise Acceptance Corporation filed separate Chapter 11
petitions.


LACK'S STORES: Has Access to Cash Collateral Until February
-----------------------------------------------------------
Lack's Stores, Incorporated, et al., sought and obtained interim
authorization from the Hon. Jeff Bohm of the U.S. Bankruptcy Court
for the Southern District of Texas to use cash collateral until
February 2011.

Prepetition, Lack's Stores entered into that certain Second
Amended and Restated Loan and Security Agreement dated as of July
10, 2007, with The CIT Group/Business Credit, Inc., as agent, and
the other lenders from time to time party thereto.  The Senior
Credit Agreement, with a stated maturity date of October 31, 2010,
is a revolving credit facility.  As of the Petition Date, the
aggregate principal amount of the advances currently outstanding
under the Senior Credit Agreement is approximately $86 million,
having been gradually reduced from $105 million since January of
2009.  Lack's obligations under the Senior Credit Agreement are
guaranteed by Merchandise Acceptance, Lack's Furniture, Lack
Properties, and Melvin Lack.  The Senior Lenders allege that the
obligations under the Senior Credit Agreement are secured by a
lien on substantially all of the Debtors' assets excluding certain
real estate.  The Senior Lenders do not, however, have dominion
over all of the Debtors' bank accounts.

Michaela C. Crocker, Esq., at Vinson & Elkins L.L.P., explains
that the Debtors need access to cash generated by its business
that is considered as cash collateral in order to fund their
Chapter 11 case, pay suppliers and other parties.  The Debtors
will use the collateral pursuant to a budget, a copy of which is
available for free at
http://bankrupt.com/misc/LACK'S_STORES_budget.pdf

According to the Debtors, the Senior Lenders are grossly
oversecured and they hold a sizeable equity cushion in their
alleged collateral.  The value of the prepetition collateral
substantially exceeds the sum total of the indebtedness to the
Senior Lenders (approximately $86,000,000), and the resulting
equity cushion will protect the Senior Lenders against any
decrease in the value of their interests in the prepetition
collateral for the duration of the requested use of Cash
Collateral.

In exchange for the use of Cash Collateral, the Debtors propose to
grant the Agent for the benefit of the Senior Lenders replacement
liens in their prepetition collateral.  As additional adequate
protection to the Agent and the Senior Lenders, the Debtors will
make the payments to the Agent (a) in the form of an interest
payment of $570,000 on December 3, 2010; and (b) in the form of a
loan paydown in the amount of $500,000 on each of November 26,
December 3, and December 10, 2010.

The Debtors will furnish or make available to the Agent and the
Senior Lenders any information in the Debtors' possession or
within the Debtors' control relating to projected revenues and
expenses, actual revenue and expenses, variances from the interim
budget and store closings.

The Court has set a final hearing for December 15, 2010, at
2:30 p.m. on the Debtors' request to use cash collateral.

                       About Lack's Stores

Victoria, Texas-based Lack's Stores, Incorporated, is one of the
largest, independently-owned retail furniture chains in the United
States.  Lack's Stores is a chain of 36 retail stores and operates
under the trade styles Lacks and Lacks Home Furnishings.  The
Company sells a complete line of furnishings for the home
including furniture, bedding, major appliances and home
electronics.  The stores are located in South, Central, and West
Texas.

Lack's Stores filed for Chapter 11 bankruptcy protection on
November 16, 2010 (Bankr. S.D. Tex. Case No. 10-60149).  Katherine
D. Grissel, Esq., Michaela Christine Crocker, Esq., and Richard H.
London, Esq., at Vinson & Elkins LLP, assist the Debtor in its
restructuring effort.  The Debtor estimated its assets and debts
at $100 million to $500 million.

Affiliates Lack Properties, Inc., Lack's Furniture Centers, Inc.,
and Merchandise Acceptance Corporation filed separate Chapter 11
petitions.


LACK'S STORES: Gets Permission to Conduct Store Closing Sales
-------------------------------------------------------------
Lack's Stores, Incorporated, et al., sought and obtained
authorization from the U.S. Bankruptcy Court for the Southern
District of Texas to sell the merchandise, furniture, fixtures,
and equipment through store closing sales, free and clear of any
and all liens, claims, and encumbrances.

The Court has approved the sale guidelines.  A copy of the sale
guidelines is available for free at:

    http://bankrupt.com/misc/LACK'S_STORES_saleguidelines.pdf

The Debtor is authorized to hire a joint venture comprised of
Hilco Merchant Merchant Resources, LLC, and SB Capital Group, LLC
as consultant.  Prior to the filing of the bankruptcy cases, the
Debtors advanced $400,000 to Hilco/SB to cover certain start-up
expenses for the Store Closing Sales, including advertising and
supervision.  The Debtors anticipate making additional payments in
the amount of approximately $600,000 to cover the remaining start-
up expenses to be incurred during the first three weeks of the
store closing sales.

The Debtors expect the store closing sales to wrap up in sixty to
ninety days.

A final hearing will be held on December 15, 2010, at 2:30 p.m.

                        About Lack's Stores

Victoria, Texas-based Lack's Stores, Incorporated, is one of the
largest, independently-owned retail furniture chains in the United
States.  Lack's Stores is a chain of 36 retail stores and operates
under the trade styles Lacks and Lacks Home Furnishings.  The
Company sells a complete line of furnishings for the home
including furniture, bedding, major appliances and home
electronics.  The stores are located in South, Central, and West
Texas.

Lack's Stores filed for Chapter 11 bankruptcy protection on
November 16, 2010 (Bankr. S.D. Tex. Case No. 10-60149).  Katherine
D. Grissel, Esq., Michaela Christine Crocker, Esq., and Richard H.
London, Esq., at Vinson & Elkins LLP, assist the Debtor in its
restructuring effort.  The Debtor estimated its assets and debts
at $100 million to $500 million.

Affiliates Lack Properties, Inc., Lack's Furniture Centers, Inc.,
and Merchandise Acceptance Corporation filed separate Chapter 11
petitions.


LISA CHASE: Case Summary & 18 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Lisa Chase
        29 Ober Street
        Beverly, MA 01915

Bankruptcy Case No.: 10-22697

Chapter 11 Petition Date: November 19, 2010

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

Judge: Henry J. Boroff

Debtor's Counsel: Richard N. Gottlieb, Esq.
                  LAW OFFICES OF RICHARD N. GOTTLIEB
                  Eleven Beacon Street, Suite 625
                  Boston, MA 02108
                  Tel: (617) 742-4491
                  E-mail: rnglaw@verizon.net

Estimated Assets: $0 to $50,000

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

A list of the Debtor's 18 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/mab10-22697.pdf


LOCAL INSIGHT: Organizational Meeting to Form Panel on Dec. 1
-------------------------------------------------------------
Roberta A. DeAngelis, United States Trustee for Region 3, will
hold an organizational meeting on December 1, 2010, at 10:00 a.m.
in the bankruptcy case of Local Insight Media Holdings, Inc., et
al.  The meeting will be held at J. Caleb Boggs Federal Building,
844 King Street, Room 2112, Wilmington, DE 19801.

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

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

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

Wilmington, Delaware-based Local Insight Media Holdings, Inc., is
a publisher of print and online yellow page directories in the
United States.  It filed for Chapter 11 bankruptcy protection on
November 17, 2010, (Bankr. D. Del. Case No. 10-13677).

Affiliates Local Insight Media Holdings II, Inc. (Bankr. D. Del.
Case No. 10-13679), Local Insight Media Holdings III, Inc. (Bankr.
D. Del. Case No. 10-13682), LIM Finance Holdings, Inc. (Bankr. D.
Del. Case No. 10-13680), LIM Finance, Inc. (Bankr. D. Del. Case
No. 10-13681), LIM Finance II, Inc. (Bankr. D. Del. Case No. 10-
13687), Local Insight Regatta Holdings, Inc. (Bankr. D. Del. Case
No. 10-13686), The Berry Company LLC (Bankr. D. Del. Case No. 10-
13678), Local Insight Listing Management, Inc. (Bankr. D. Del.
Case No. 10-13685), Regatta Investor Holdings, Inc. (Bankr. D.
Del. Case No. 10-13725), Regatta Investor Holdings II, Inc.
(Bankr. D. Del. Case No. 10-13741), Regatta Investor LLC (Bankr.
D. Del. Case No. 10-13684), Regatta Split-off I LLC (Bankr. D.
Del. Case No. 10-13721), Regatta Split-off II LLC (Bankr. D. Del.
Case No. 10-13753), Regatta Split-off III LLC (Bankr. D. Del. Case
No. 10-13737), Regatta Holding I, L.P. (Bankr. D. Del. Case No.
10-13748), Regatta Holding II, L.P. (Bankr. D. Del. Case No. 10-
13715), and Regatta Holding III, L.P. (Bankr. D. Del. Case No. 10-
13745) filed separate Chapter 11 petitions.

Richard M. Cieri, Esq., Christopher J. Marcus, Esq., and Ross M.
Kwasteniet, Esq., at Kirkland & Ellis LLP, assist the Debtors in
their restructuring effort.  Curtis A. Hehn, Esq., Laura Davis
Jones, Esq., and Michael Seidl, Esq., at Pachulski Stang Ziehl &
Jones LLP, are the Debtors' co-counsel.

The Debtors' investment banker and financial advisor is Lazard
Freres & Co. LLC.  The Debtors' independent auditor is Deloitte &
Touche LLP.  The Debtors' claims agent is Kurtzman Carson
Consultants LLC.  The Debtors' interim management and
restructuring advisors are Alvarez & Marsal North America, LLC,
and Avarez & Marsal Private Equity Performance Improvement Group,
LLC.

Local Insight Media Holdings estimated assets of less than $50,000
and liabilities of $100 million to $500 million in its Chapter 11
petition.  In its latest Form 10-Q with the Securities and
Exchange Commission, Local Insight Regatta reported consolidated
assets of $796,270,000 against consolidated debts of $669,612,000
as of September 30, 2010.


MARINA BIOTECH: Files 10-Q; Posts $8.3 Million Net Loss in Q3 2010
------------------------------------------------------------------
Marina Biotech, Inc., formerly MDRNA, Inc., filed on November 15,
2010, its quarterly report on Form 10-Q for the third quarter
ended September 30, 2010.

The Company reported a net loss of $8.27 million on $1.13 million
of license and other revenue for the three months ended
September 30, 2010, compared with a net loss of $7.01 million on
$64,000 of license and other revenue for the same period of 2009.

"As of September 30, 2010, we had an accumulated deficit of
approximately $284.88 million and expect to incur losses in the
future as we continue our research and development activities,"
the Company said in the filing.

The Company's balance sheet as of September 30, 2010, showed
$36.73 million in total assets, $20.39 million in total
liabilities, and stockholders' equity of $16.34 million.

As reported in the Troubled Company Reporter on March 26, 2010,
KPMG LLP, in Seattle, Washington, expressed substantial doubt
about MDRNA, Inc.'s ability to continue as a going concern,
following the Company's 2009 results.  The independent auditors
noted of the Company's recurring losses, recurring negative cash
flows from operations, and accumulated deficit.

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

               http://researcharchives.com/t/s?6f6a

Bothell, Wash.-based Marina Biotech, Inc. (Nasdaq: MRNA)
-- http://www.marinabio.com/-- is a biotechnology company,
focused on the development and commercialization of therapeutic
products based on RNA interference (RNAi).  Marina Biotech's
pipeline currently includes a clinical program in Familial
Adenomatous Polyposis (a precancerous syndrome) and two
preclinical programs - in hepatocellular carcinoma and bladder
cancer.


MASSEY ENERGY: Board Reviews Options, Hires Advisors
----------------------------------------------------
Massey Energy Company's Board of Directors, as part of its annual
review of the Company's strategy, has directed the Company to
engage in a formal review of strategic alternatives to enhance
shareholder value.  The Board's Strategic Alternatives Review
Committee will advise and report to the Board on this process.

The Company has retained Perella Weinberg Partners LP and Cravath,
Swaine & Moore LLP as financial and legal advisors, respectively,
to advise the committee and the Board in its review.

The Company has not set a definitive timetable for completion of
its evaluation and there can be no assurance that this process
will lead to the approval or completion of any transaction.  The
Company does not intend to disclose developments regarding this
process unless and until its Board of Directors approves a
specific transaction or otherwise concludes its review of
strategic alternatives.

                           *     *     *

The Wall Street Journal's Kris Maher reported Monday that Massey
directors were to meet through Tuesday at the Greenbrier Resort in
White Sulphur Springs, W.Va., to hold their annual strategy-review
session.  According to the Journal, the board's review comes in
the wake of an offer from Alpha Natural Resources Inc. of
Abingdon, Va., the nation's fourth largest coal producer, and
several other expressions of interest from coal and steel miners.

According to the Journal, industry experts said they believe
mounting pressure from federal regulators on Massey's operations
is adding to the board's desire to explore a deal.  On Friday, the
federal Mine Safety and Health Administration released a list of
13 mines across the country with a pattern of safety violations
that could face tougher oversight and potential closure if
problems aren't fixed.  Three of the mines on the list are
operated by Massey.

According to the Journal, one person familiar with Alpha's
thinking said the company would be comfortable with a bid of
between $47 a share and $50 a share.  An Alpha spokesman declined
to comment.

The Journal said an Alpha-Massey deal would create the nation's
biggest producer of metallurgical coal, which is in high demand
from steelmakers in China and India.  Alpha would greatly increase
the life of its coal reserves by adding Massey's 1.3 billion tons
of metallurgical coal reserves.

The Journal said a person familiar with the matter said Massey
Chief Executive Don Blankenship prefers to keep the company
independent.  Several shareholders who have spoken to Mr.
Blankenship in the past week say that he would prefer to delay
considering any sale until after government investigations into an
April accident that killed 29 Massey miners are complete and the
Company releases its own findings.

The Journal said Mr. Blankenship and Massey declined to comment on
the board's deliberations, according to a spokesman.

The Journal further said the board is expected to explore interest
from other companies, including Luxembourg-based ArcelorMittal,
the world's biggest steelmaker; Arch Coal Inc. of St. Louis; and
Pittsburgh-based Consol Energy Inc. The board will also discuss a
potential joint venture with Coal India Ltd., which is in talks to
buy stakes in Massey coal mines.

                        About Massey Energy

Massey Energy Company (NYSE: MEE) --
http://www.masseyenergyco.com/-- headquartered in Richmond,
Virginia, with operations in West Virginia, Kentucky and Virginia,
is the largest coal company in Central Appalachia and is included
the S&P 500 index.  Total assets were $4.703 billion and total
liabilities were $2.812 billion as of September 30, 2010.

As reported by the Troubled Company Reporter on November 4, 2010,
The Wall Street Journal's Kris Maher said the U.S. Labor
Department filed a preliminary injunction in U.S. District Court
for the Eastern District of Kentucky to close Massey's Freedom
Mine No. 1 in Pike County, Kentucky, until safety hazards are
addressed.  According to the report, federal officials say they
issued nearly 2,000 citations between July 2008 and June 2010 for
safety violations at the mine.  They also noted that six major
roof falls had occurred since August 2010 at the mine, which
employs about 130 miners.

Massey has reported a net loss of $41.4 million for the quarter
ended September 30, 2010.  For the first nine months of 2010,
Massey recorded a net loss of $96.5 million.

As reported by the Troubled Company Reporter on October 22, 2010,
Standard & Poor's Ratings Services placed its ratings on Massey,
including its 'BB-' corporate credit rating, on CreditWatch with
developing implications.  The CreditWatch listing followed press
reports suggesting that Massey is exploring strategic options,
including a sale to another coal producer or a private-equity
firm, an acquisition of another company, or remaining independent.

"The outcome of the strategic alternatives could have a negative
effect on S&P's assessment of the company's overall business and
financial risk profiles, given the potential for a debt financed
acquisition of another coal company or leveraged buyout by a
private equity firm or strategic buyer," said S&P credit analyst
Marie Shmaruk.

Alternatively, S&P said, the company's business and financial risk
profiles could improve if it makes an acquisition that expands the
company's geographic and product diversity or it is acquired by a
stronger entity and any potential transaction is funded in such a
way that results in improved credit measures.


MCNAIR GRADING: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: McNair Grading, Inc.
        12864 US Highway 19
        Griffin, GA 30224

Bankruptcy Case No.: 10-14368

Chapter 11 Petition Date: November 19, 2010

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

Debtor's Counsel: Christopher W. Terry, Esq.
                  STONE & BAXTER, LLP
                  Suite 800 - Fickling & Company Bldg.
                  577 Mulberry Street
                  Macon, GA 31201
                  Tel: (478) 750-9898
                  Fax: (478) 750-9899
                  E-mail: cterry@stoneandbaxter.com

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

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ganb10-14368.pdf

The petition was signed by James S. McNair, owner/president.


MECHANICAL TECHNOLOGY: Posts $902,000 Net Loss in Q3 2010
---------------------------------------------------------
Mechanical Technology, Incorporated, filed its quarterly
report on Form 10-Q, reporting a net loss of $705,000 on
$1.98 million of revenue for the three months ended September 30,
2010, compared with a net loss of $902,000 on $1.97 million of
revenue for the same period of 2009.

The Company has incurred significant losses and had a consolidated
accumulated deficit of $122.76 million and a working capital
surplus of $1.12 million at September 30, 2010.

The Company's balance sheet as of 2010, showed $3.27 million in
total assets, $1.69 million in total liabilities, and
stockholders' equity of $1.59 million.

As reported in the Troubled Company Reporter on April 13, 2010,
PricewaterhouseCoopers in Albany, New York, expressed substantial
doubt about the Company's ability to continue as a going concern.
The independent auditors noted that the Company has suffered
recurring losses from operations and has an accumulated deficit.

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

               http://researcharchives.com/t/s?6f67

Albany, N.Y.-based Mechanical Technology, Incorporated, operates
in two segments, the New Energy segment conducted through MTI
MicroFuel Cells, Inc., and the Test and Measurement
Instrumentation segment, through MTI Instruments, Inc.

MTI Micro is developing and commercializing off-the-grid power
solutions for various portable electronic devices.  The Company's
patented proprietary direct methanol fuel cell technology
platform, called Mobion, converts 100% methanol fuel to usable
electricity capable of providing continuous power as long as
necessary fuel flows are maintained.

MTI Instruments is a worldwide supplier of metrology, portable
balancing equipment and inspection systems for semiconductor
wafers.


METROPOLITAN 885: Files Schedules of Assets & Liabilities
---------------------------------------------------------
Metropolitan 885 Third Avenue Leasehold, LLC, has filed with the
U.S. Bankruptcy Court for the Northern District of New York its
schedules of assets and liabilities, disclosing:

  Name of Schedule                        Assets       Liabilities
  ----------------                        ------       -----------
A. Real Property                       $130,000,000
B. Personal Property                     $9,878,012
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                     $210,000,000
E. Creditors Holding
   Unsecured Priority
   Claims                                                   $5,603
F. Creditors Holding
   Unsecured Non-priority
   Claims                                                 $332,080
                                        -----------    -----------
      TOTAL                            $139,878,012   $210,337,682

A copy of the schedules is available for free at:

         http://bankrupt.com/misc/METROPOLITAN_885_sal.pdf

New York-based Metropolitan 885 Third Avenue Leasehold, LLC, filed
for Chapter 11 bankruptcy protection on November 16, 2010 (Bankr.
S.D.N.Y. Case No. 10-16103).  Marc E. Richards, Esq., at Blank
Rome, LLP, assists the Debtor in its restructuring effort.

The Garden City Group, Inc., is the Debtor's claims agent.


MGIC INVESTMENT: S&P Raises Ratings on Preferred Debt to 'CC'
-------------------------------------------------------------
Standard & Poor's Ratings Services said it raised its unsolicited
ratings on MGIC Investment Corp.'s preferred convertible debt by
one category to 'CC' from 'C'.  The ratings on MGIC's remaining
issuances and on its operating companies remain unchanged.

On Sept. 15, 2010, Standard & Poor's placed the 'C' unsolicited
rating on MGIC Investment Corp.'s convertible junior subordinated
debentures due 2063 on CreditWatch with positive implications.
S&P had lowered the rating to 'C' after MTG opted to defer the
interest payments that had been scheduled for April 1 and
October 1, 2009, and April 1, 2010.  When an issuer elects to
exercise its option to defer interest, it is S&P's policy to lower
the rating on that obligation to 'C'.

The company subsequently terminated the optional deferral of
interest, and paid the $57.5 million deferred interest payments,
including the compound interest on each, on Oct. 1, 2010.  The
company has also paid the scheduled Oct. 1, 2010, interest
payment.

The unsolicited ratings and outlook on the subordinated debt issue
will change in tandem with the ratings on MTG and its operating
subsidiaries.  The outlook on MTG is negative, largely reflecting
the current macroeconomic conditions as well as the increasing
litigation risk associated with rescission activity.  In addition
to the changes in ratings and outlook of MTG, S&P will lower the
rating on the subordinated debt offering to 'C' if the company
again opts to defer its interest payments.

            MGIC Investment Corp. (Unsolicited Rating)

                   Counterparty Credit Rating

          Local Currency              CCC+/Negative/--
          Senior Unsecured            CCC+

                          Rating raised

           MGIC Investment Corp. (Unsolicited Rating)

                                 To             From
                                 --             ----
     Subordinated Debt           CC             C/Watch Pos


MGL CONSULTING: Case Summary & 21 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: MGL Consulting Corporation
        3330 Egypt Lane, Suite E400
        Magnolia, TX 77354

Bankruptcy Case No.: 10-40478

Chapter 11 Petition Date: November 19, 2010

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

Judge: Karen K. Brown

Debtor's Counsel: J. Craig Cowgill, Esq.
                  J. CRAIG COWGILL & ASSOCIATES, P.C.
                  8100 Washington, Suite 120
                  Houston, TX 77007
                  Tel: (713) 956-0254
                  Fax: (713) 956-6284
                  E-mail: jccowgill@cowgillholmes.com

Scheduled Assets: $396,439

Scheduled Debts: $1,453,617

A list of the Company's 21 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txsb10-40478.pdf

The petition was signed by Melinda LeGaye, president.


MICHAEL YOUNESSI: Case Summary & 16 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Michael Younessi
        4022 Morningstar Drive
        Huntington Beach, CA 92649

Bankruptcy Case No.: 10-26435

Chapter 11 Petition Date: November 18, 2010

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

Debtor's Counsel: Vahid Naziri, Esq.
                  ANH LEGAL GROUP, P.C.
                  6230 Canoga Avenue, Suite 790
                  Woodland Hills, CA 91367
                  Tel: (818) 888-6614
                  Fax: (818) 888-6615
                  E-mail: ecf@anhlegal.com

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

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

A list of the Debtor's 16 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-26435.pdf


MIG INC: Wins Confirmation of Full-Payment Plan After Deal
----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that MIG Inc. received confirmation of a Chapter 11 plan
on Nov. 19, after a settlement with the Official Committee of
Unsecured Creditors.

According to Mr. Rochelle, under the Plan, unsecured creditors are
to be paid in full.  The settlement came about when MIG was facing
motions by the committee to end the company's exclusive right to
propose a reorganization plan, appoint a Chapter 11 trustee, or
dismiss the case.

Mr. Rochelle adds that under the Confirmed Plan, preferred
shareholders are receiving new secured notes bearing interest that
begins at 15.5% and rises to 20%.  Originally, the plan called for
10% interest.  The new notes are secured by all the assets and the
stock of reorganized MIG.  The loan documents call for excess cash
to be paid against the notes and require a portion of proceeds
from a public offering to be used in payment of the notes.

MIG said all along that the company is worth enough to pay all
creditors in full, according to Mr. Rochelle.

                           About MIG Inc.

Based in Charlotte, North Carolina, MIG Inc. (PINK SHEETS: MTRM,
MTRMP) -- http://www.metromedia-group.com/-- through its wholly
owned subsidiaries, owns interests in several communications
businesses in the country of Georgia.  The Company's core
businesses include Magticom Ltd., a mobile telephony operator
located in Tbilisi, Georgia, Telecom Georgia, a long distance
telephony operator, and Telenet, which provides Internet access,
data communications, voice telephony and international access
services.

MIG, Inc., fka Metromedia International Group, Inc., filed for
Chapter 11 bankruptcy protection on June 18, 2009 (Bankr. D. Del.
Case No. 09-12118).  Scott D. Cousins, Esq., at Greenberg Traurig
LLP, assists the Company in its restructuring efforts.  Debevoise
& Plimpton LLP is the Company's special corporate counsel, while
Potter Anderson & Corroon LLP is the Company's special litigation
counsel.  The official committee of unsecured creditors of MIG,
Inc., has retained Baker & McKenzie LLP as its bankruptcy
counsel, nunc pro tunc to June 30, 2009.

In its petition, the Company estimated US$100 million to
US$500 million in assets and US$100 million to US$500 million in
debts.  In its formal schedules, the Company said it had assets of
$54,820,681 against debts of $210,183,657.


MILLENNIUM SOUTHEAST: Vancouver Takes Control of Olympic Village
----------------------------------------------------------------
Marcella Bernardo at CKNW reports that Vancouver taxpayers are now
the owners of the Olympic Village at False Creek.  The City has
now assumed control of the property because the project is now in
receivership.

As reported in yesterday's Troubled Company Reporter, the Canadian
Press, the City of Vancouver announced Wednesday that it has
negotiated an agreement with the accounting firm Ernst and Young
to assume control of the Millennium Southeast False Creek
Properties and the Millennium Water development, as the Olympic
Village condominium project is now called.

Announcing a mutual agreement had been reached with Millennium
Developments to avoid a long court battle, Mayor Gregor Robertson
admits it could be years before taxpayers recover their losses,
according to CKNW.

The Mayor, the CKNW report discloses, said, "I have never said
that taxpayers were risk-free on this project.  I think for the
last two years since 'daylighting' the financial details of the
project, I've said taxpayers are on the hook and there's
considerable risk due to the financing arrangements made by the
previous council."

Including the 200-million dollar value of the land, taxpayers are
still owed approximately 740-million dollars, the report adds.

Olympic Village is an accommodation centre built for an Olympic
Games, usually within an Olympic Park or elsewhere in a host city.
Olympic Villages are built to house all participating athletes, as
well as officials, athletic trainers, and other staff.


MOMENTIVE PERFORMANCE: Has $159.9MM Add'l Commitment from Lender
----------------------------------------------------------------
On November 15, 2010, Momentive Performance USA Materials Inc. and
Momentive Performance Materials GmbH obtained $159.5 million of
additional commitments from an existing revolving facility lender
to provide new revolving loans under a new or extended revolving
facility under the Company's senior secured credit facilities.
Including the commitments previously announced, the Company has
obtained commitments to extend the full $300 million under the
existing revolving credit facility.

The commitments for the new revolving facility are subject to
customary conditions and will take effect on these date as
applicable:

     1) in the case of a commitment party that is not an existing
        revolver lender, at the Company's option, on or no more
        than five business days prior to December 3, 2012, or

     2) in the case of a commitment party that is an existing
        revolver lender, the earlier of

        A) the existing revolver maturity date or

        B) in the event the Company obtains an amendment to its
           senior secured credit facilities that extends the
           revolver maturity date, the date on which such
           amendment becomes effective.

The commitments for the new revolving facility will mature on
December 3, 2014.  In the event more than $500 million in term
loans mature prior to 91 days after the extended revolver maturity
date, the revolver loans outstanding under the new revolving
facility must be repaid in full at least 91 days prior to such
maturity date of such term loans and revolver loans may not be
drawn thereunder until such term loans are repaid and/or their
maturity date extended to a date not earlier than 91 days after
the extended revolver maturity date.

The new revolving facility, which cannot be drawn until the
commitment effective date, will bear interest at a rate of LIBOR
plus 4.75%.  The terms and conditions of the Company's existing
revolving credit facility remain in full force and effect and have
not been altered by these new commitments.

                    About Momentive Performance

Momentive Performance Materials, Inc., is a producer of silicones
and silicone derivatives, and is engaged in the development and
manufacture of products derived from quartz and specialty
ceramics.  As of Dec. 31, 2008, the Company had 25 production
sites located worldwide, which allows it to produce the majority
of its products locally in the Americas, Europe and Asia.
Momentive's customers include companies in industries, such as
Procter & Gamble, 3M, Goodyear, Unilever, Saint Gobain, Motorola,
L'Oreal, BASF, The Home Depot and Lowe's.

As of March 30, 2010, Momentive had $3.22 billion in total assets,
$3.79 billion in total liabilities, and a stockholders' deficit of
$565.8 million.

Momentive carries a 'CCC-' corporate credit rating from Standard &
Poor's Ratings Services.


MORTGAGEBROKERS.COM: Posts $28,368 Net Loss for September 30 Qtr.
-----------------------------------------------------------------
MortgageBrokers.com Holdings Inc. filed its quarterly report on
Form 10-Q, reporting a net loss of $28,368 on $3.69 million of
revenues for the three months ended Sept. 30, 2010, compared with
net income of $643,176 on $5.02 million for the same period a year
earlier.

The Company's balance sheet at Sept. 30, 2010, showed
$1.35 million in total assets, $2.13 million in total liabilities,
and a stockholders' deficit of $775,734.

As reported in the Troubled Company Reporter on April 22, 2010,
McGovern, Hurley, Cunningham, LLP, in Toronto, 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 operating losses, negative working
capital, and total capital deficiency.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6f40

                About MortgageBrokers.com Holdings

Based in Toronto, Canada, MortgageBrokers.com Holdings,
Inc., provides mortgage brokerage services in the Canadian
provincial markets of Newfoundland, Nova Scotia, New Brunswick,
Prince Edward Island, Ontario, Saskatchewan and Alberta.

The Company's balance sheet at June 30, 2010, showed
$1.9 million in total assets, $2.6 million in total liabilities,
and a stockholders' deficit of $730,222.


MPG OFFICE: Names David Weinstein as New CEO
--------------------------------------------
A.D. Pruitt, writing for The Wall Street Journal, reports that MPG
Office Trust Inc. on Monday named David Weinstein, an independent
board member and real-estate executive, as its new chief executive
officer.

MPG accepted the resignation of Nelson C. Rising, effective
November 15, 2010.  The letter submitted by Mr. Rising states: "I
believe the Board of Directors and I do not share a common vision
for the strategic direction of the Company and a capital structure
necessary to achieve it."

The Journal reports that people familiar with the matter said Mr.
Rising butted heads with the board on numerous issues including
raising equity, selling properties and whether the company should
be put on the block.   The Troubled Company Reporter ran a story
on Mr. Rising's resignation on November 16.

The Journal says Mr. Weinstein wouldn't comment on behalf of the
company regarding the reasons for Mr. Rising's exit.  According to
the Journal, Mr. Weinstein said in an interview the company is
open to a wide range of strategies, but a sale isn't one of them.
"The company is not for sale. . . .  Aside from that, everything
is an option," Mr. Weinstein said.

The Journal's sources said some board members felt Mr. Rising was
shopping around the company, the largest owner of office buildings
in downtown Los Angeles, despite their instructions not to do so.
Mr. Rising disputes this and says he always kept the board fully
informed about what he was doing.

The Journal notes, according to people familiar with the matter,
during the past two years, the company has fielded a number of
acquisition and merger inquiries from other REITs and private-
equity investors, including office landlord Brookfield Properties
Corp. and Kennedy Wilson, a Beverly Hills, Calif.-based real-
estate firm.  A representative for Kennedy Wilson had no immediate
comment.

The sources also told the Journal Patrick Soon-Shiong, a
billionaire physician who founded biotech company Abraxis
BioScience, also made an overture in December 2008.  But he backed
out of a deal partly because there are too many lender consents
required, these people said.  A representative for Mr. Soon-Shiong
had no immediate comment.

                      About MPG Office Trust

MPG Office Trust Inc. is a self-administered and self-managed real
estate investment trust.  It is the largest owner and operator of
Class A office properties in the Los Angeles Central Business
District and are primarily focused on owning and operating high-
quality office properties in the high-barrier-to-entry Southern
California market.

The Company's balance sheet at Sept. 30, 2010, showed
$3.26 billion in total assets, $4.16 billion in total liabilities,
and a stockholder's deficit of $897.21 million.


MYRA PLANT: Case Summary & 17 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Myra M. Plant
        aka Myra Marie Plant
        dba Boutique Intern'l Hospitality Gp LLC
        dba The Campbell House Inn
        252 Pearl St
        Eugene, OR 97401

Bankruptcy Case No.: 10-66933

Chapter 11 Petition Date: November 21, 2010

Court: United States Bankruptcy Court
       District of Oregon

Judge: Frank R Alley III

Debtor's Counsel: Stephen Behrends, Esq.
                  BEHRENDS SWINGDOFF HAINES & CRITCHLOW, PC
                  P.O. Box 10552
                  Eugene, OR 97440
                  Tel: (541) 344-7472
                  E-mail: sbehrends@oregon-attorneys.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 17 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/orb10-66933.pdf


NAZARIO PERLAS: Case Summary & 18 Largest Unsecured Creditors
-------------------------------------------------------------
Joint Debtors: Nazario D. Perlas
               Loreta O. Perlas
               17608 Harvest Avenue
               Cerritos, CA 90703

Bankruptcy Case No.: 10-59524

Chapter 11 Petition Date: November 18, 2010

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

Debtors' Counsel: Matthew E. Faler, Esq.
                  17330 Brookhurst Street, Suite 240
                  Fountain Valley, CA 92708
                  Tel: (714) 465-4433
                  Fax: (714) 965-7823
                  E-mail: mfaler@faler-law.com

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

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

A list of the Joint Debtors' 18 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-59524.pdf


NEW CLINTON: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: New Clinton Auto Service, Inc.
        dba New Clinton Auto Wash
        dba AAA Muffler Shocks & Springs
        dba New Clinton Auto Sales
        dba Auto Lab #137
        366 North Gratiot Ave.
        Clinton Township, MI 48036

Bankruptcy Case No.: 10-74966

Chapter 11 Petition Date: November 18, 2010

Court: United States Bankruptcy Court
       Eastern District of Michigan (Detroit)

Judge: Marci B. McIvor

Debtor's Counsel: Michael A. Greiner, Esq.
                  FINANCIAL LAW GROUP, P.C.
                  29405 Hoover
                  Warren, MI 48093
                  Tel: (586) 693-2000
                  Fax: (586) 693-2000
                  E-mail: mike@financiallawgroup.com

Scheduled Assets: $87,500

Scheduled Debts: $1,048,126

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

The petition was signed by Valerian Fernandes, president.


NEW ORIENTAL: Delays Form 10-Q for Third Quarter
------------------------------------------------
New Oriental Energy & Chemical Corp. said it could not timely file
its quarterly report on Form 10-Q with the Securities and Exchange
Commission due to delays in compiling the information for the
preparation of the financial statements and management's
discussion and analysis for the report.

New Oriental reported a net loss of $2.6 million on $13.7 million
of revenue for the three months ended June 30, 2010, compared with
a net loss of $3.2 million on $8.4 million of revenue for the same
period last year.

The Company's balance sheet at June 30, 2010, showed $77.7 million
in total assets, $78.2 million in total liabilities, and a
stockholders' deficit of $470,784.

                        About New Oriental

New Oriental Energy & Chemical Corp. (NASDAQ: NOEC)
-- http://www.neworientalenergy.com/-- was incorporated in the
State of Delaware on November 15, 2004.  The Company is an
emerging coal-based alternative fuels and specialty chemical
manufacturer based in Henan Province, in the Peoples'
Republic of China.  The Company's core products are urea and other
coal-based chemicals primarily utilized as fertilizers.  All of
the Company's sales are made through a network of distribution
partners in the Peoples' Republic of China.

As reported in the Troubled Company Reporter on July 2, 2010,
Weinberg & Company, P.A., in Boca Raton, Florida, 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
incurred a net loss of $12.8 million and has negative cash flows
from operations of $7.5 million for the year ended March 31, 2010,
and has a working capital deficit of $44.1 million at March 31,
2010.


NEW VISION: S&P Assigns 'B' Preliminary Corporate Credit Rating
---------------------------------------------------------------
Standard & Poor's Ratings Services assigned Los Angeles- and
Atlanta-based TV broadcaster New Vision Television LLC its
preliminary 'B' corporate credit rating.  The rating outlook is
stable.

At the same time, S&P assigned guaranteed subsidiary NVT Networks
LLC's proposed senior secured credit facilities a preliminary
issue-level rating of 'B+' (one notch higher than S&P's
preliminary 'B' corporate credit rating on the parent company).
The recovery rating on this debt is '2', indicating S&P's
expectation of substantial (70% to 90%) recovery for lenders in
the event of a payment default.  The proposed credit facilities
consist of a $10 million revolving credit facility due 2014 and a
$74 million term loan due 2014.

The credit facilities will be guaranteed on a senior secured basis
by the parent and the parent's local marketing agreement, joint
sales agreement, and shared services agreement partners.  The
company is offering to exchange the new term loan borrowings for
between 3.25 million and 4.00 million of Class A equity units held
by prepetition lenders from its 2009 bankruptcy.  The final amount
of the term loan will be determined by the number of units
tendered, with a minimum of 3.25 million units required for
completion.

All ratings are subject to S&P's final review of transaction
documentation.

"The preliminary 'B' rating on New Vision Television LLC reflects
the company's vulnerable business risk profile characterized by
its small portfolio of TV stations in small and midsize markets,"
said Standard & Poor's credit analyst Deborah Kinzer.  "It also
reflects S&P's expectation that the company will be able to
achieve positive discretionary cash flow in the near term and that
leverage will remain manageable in 2011, when S&P expects EBITDA
to decline significantly because of the absence of political ad
revenues in a nonelection year."

New Vision operates 12 TV major-network-affiliated stations in
eight small and midsize markets ranked from No. 22 (Portland,
Ore.) to No. 153 (Rochester, Minn./Mason City, Ia.).  In addition,
the company has a CW station, two MyTV stations, and a Telemundo
station on secondary digital tiers, creating three additional
duopolies.  The company's stations have strong revenue rankings in
several of their respective markets, with No.1 and No.2 market
cluster positions.  Two markets contribute almost half of total
broadcast cash flow, which increases the potential effects of
regional economic volatility on ad demand and the company's
financial performance.


NORTEL NETWORKS: GENBAND Wants Arbitration for Sale Price Dispute
-----------------------------------------------------------------
GENBAND Inc., asks the U.S. Bankruptcy Court for the District of
Delaware to grant relief from automatic stay to allow arbitration
to commence; and compel the commencement of arbitration between
Nortel Networks Inc., et al., and GENBAND pursuant to the terms of
the asset sale agreement dated as of December 22, 2009.

GENBAND explains that arbitration will resolve a dispute with
respect to the purchase price adjustment.

GENBAND relates that in a letter in the disagreement notice,
Nortel informed GENBAND that it did not intend to waive its right
to pursue all available remedies, including judicial relief, in
order to resolve disputes in connection with the purchase price
adjustment.

GENBAND states that refusing to arbitrate dispute on to the
purchase price adjustment violated the agreed terms of ASA.

GENBAND proposes a hearing on December 8, 2010, at 10:00 a.m., to
consider its motion to commence arbitration on purchase price
adjustment.  Objections, if any, are due December 1 at 4:00 p.m.

                      About Nortel Networks

Nortel Networks (OTC BB: NRTLQ) -- http://www.nortel.com/--
delivers communications capabilities that make the promise of
Business Made Simple a reality for the Company's customers.  The
Company's next-generation technologies, for both service provider
and enterprise networks, support multimedia and business-critical
applications.  Nortel's technologies are designed to help
eliminate the barriers to efficiency, speed and performance by
simplifying networks and connecting people to the information they
need, when they need it.

Nortel Networks Corp., Nortel Networks Inc., and other affiliated
corporations in Canada sought insolvency protection under the
Companies' Creditors Arrangement Act in the Ontario Superior Court
of Justice (Commercial List).  Ernst & Young was appointed to
serve as monitor and foreign representative of the Canadian Nortel
Group.

The Monitor sought recognition of the CCAA Proceedings in the U.S.
by filing a bankruptcy petition under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10164).  Mary Caloway,
Esq., and Peter James Duhig, Esq., at Buchanan Ingersoll & Rooney
PC, in Wilmington, Delaware, serves as the Chapter 15 petitioner's
counsel.

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions on January 14, 2009 (Bankr. D. Del. Case No. 09-10138).
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.

Certain of Nortel's European subsidiaries also made consequential
filings for creditor protection.  The Nortel Companies related in
a press release that Nortel Networks UK Limited and certain
subsidiaries of the Nortel group incorporated in the EMEA region
have each obtained an administration order from the English High
Court of Justice under the Insolvency Act 1986.  The applications
were made by the EMEA Subsidiaries under the provisions of the
European Union's Council Regulation (EC) No. 1346/2000 on
Insolvency Proceedings and on the basis that each EMEA
Subsidiary's centre of main interests is in England.  Under the
terms of the orders, representatives of Ernst & Young LLP have
been appointed as administrators of each of the EMEA Companies and
will continue to manage the EMEA Companies and operate their
businesses under the jurisdiction of the English Court and in
accordance with the applicable provisions of the Insolvency Act.

Several entities, particularly, Nortel Government Solutions
Incorporated have material operations and are not part of the
bankruptcy proceedings.

As of September 30, 2008, Nortel Networks Corp. reported
consolidated assets of US$11.6 billion and consolidated
liabilities of US$11.8 billion.  The Nortel Companies' U.S.
businesses are primarily conducted through Nortel Networks Inc.,
which is the parent of majority of the U.S. Nortel Companies.  As
of September 30, 2008, NNI had assets of about US$9 billion and
liabilities of US$3.2 billion, which do not include NNI's
guarantee of some or all of the Nortel Companies' about
US$4.2 billion of unsecured public debt.


NOVELOS THERAPEUTICS: Incurs $1.22 Mil. Net Loss in Sept. 30 Qtr.
-----------------------------------------------------------------
Novelos Therapeutics Inc. filed its quarterly report on Form 10-Q,
reporting a net loss of $1.22 million on $8,333 of revenue for the
three months ended Sept. 30, 2010, compared with an net loss of
$2.74 million on $13,702 of revenue for the same period a year
ago.

The Company's balance sheet at Sept. 30, 2010, showed
$3.49 million in total assets, $6.36 million in total current
liabilities, $375,000 in commitments and contingencies,
$13.77 million in redeemable preferred stock, and a stockholders'
deficit of $17.01 million.   Stockholders' deficit was
$16.1 million at June 30, 2010.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6f55

Newton, Mass.-based Novelos Therapeutics, Inc. (OTC BB: NVLT)
-- http://www.novelos.com/-- is a biopharmaceutical company
developing oxidized glutathione-based compounds for the treatment
of cancer and hepatitis.

As reported in the Troubled Company Reporter on April 8, 2010,
Stowe & Degon LLC, in Westborough, Mass., 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 continuing losses and stockholders' deficiency at
December 31, 2009.


NUTRACEA: Wants to Sell 49% of Interest for $7.72 Million
---------------------------------------------------------
The Hon. Charles G. Case, II of the U.S. Bankruptcy Court for the
District of Arizona will convene a hearing on December 7, 2010, at
1:30 p.m., to consider and the sale of minority interest in Nutra
S.A., Nutracea's subsidiary.

Pursuant to the Plan proposed by NutraCea and the Official
Committee of Unsecured Creditors, the Debtor moves for:

   1) the entry of an order approving the sale of up to 49% of
      Debtor's membership interest in Nutra SA, LLC, its wholly-
      owned subsidiary, together with the other rights and
      preferences, to an investment fund owned by a private equity
      firm for not less than $7.725 million; and

   2) an order that the Plan is deemed amended to authorize the
      sale and that the amendment is non-adverse and does not
      require re-solicitation or re-voting or, alternatively, that
      any required re-solicitation or re-voting has been
      accomplished through the notice and hearing procedure on
      this motion.

The Debtor's Plan was confirmed on October 27, 2010.  It provides
for the payment in full of all allowed claims, with interest, and
leaves the rights of shareholders unimpaired.  It further provides
that the funds necessary to pay allowed claims will come from the
sale or monetization of Debtor's non-core assets, including: (a)
its Phoenix production facility; (b) its Montana production
facility; (c) its excess equipment; and (d) all or a part of its
ownership interest in its wholly-owned subsidiary, Nutra SA, LLC.
The Plan establishes certain payment benchmarks that must be
satisfied and, if they are not, the designated Plan Agent will be
authorized to sell the pledged assets.  The obligations owing to
unsecured creditors will be secured by a lien on all of Debtor's
assets, which will be administered by the Plan Agent.

Under the terms of the Membership Interest Purchase Agreement
between Debtor and Investor, the Investor will purchase, at the
initial closing, a 37.27% interest in Nutra SA, for which it will
pay a total of $7.725 million.  Of that amount, $5 million will be
paid to Debtor and $2.725 million will be paid to Nutra SA.  The
sale will be effectuated through a series of purchases and
contributory purchases by and from Debtor and Nutra SA.

In addition, the Investor will commit, for a period of two years,
to purchase up to an additional 11.73% of Nutra SA for a total of
$5.175 million, if additional funding is needed for the Phase 1
Projects.  Even if the full additional investment is made by the
Investor and its ownership interest increases to 49%, the value of
Debtor's interest will have markedly improved.  It will have gone
from 100% of a company worth $17,304,500 (using the mid-range of
Lakeshore's valuation numbers) to 51% of a company worth
$45.79 million.  Thus, the value of Debtor's ownership interest,
without taking Investor's liquidation preference into account,
will have increased from $17.30 million to $23.35 million, after
receiving $5 million at closing.

In return for its investment, the Investor will be granted a
preference on any distribution.  The preference will be in an
amount equal to two times its investment, minus any distributions
that it has already received.  The Investor's investment may
increase to much as $12.9 million if additional funds are needed
for the Phase 1 Projects.  After the Investor received the amount
of its distribution preference, the Debtor will have a
distribution preference equal to two times its deemed investment,
which, at the initial closing, will be $13 million.

                       About NutraCea

Phoenix, Arizona-based NutraCea is a world leader in production
and utilization of stabilized rice bran.  NutraCea holds many
patents for stabilized rice bran production technology and
proprietary products derived from SRB.  NutraCea's proprietary
technology enables the creation of food and nutrition products to
be unlocked from rice bran, normally a waste by-product of
standard rice processing.

Nutracea filed for Chapter 11 bankruptcy protection November 10,
2009 (Bankr. D. Ariz. Case No. 09-28817).  S. Cary Forrester,
Esq., at Forrester & Worth, PLLC, represents the Debtor.  The
Company estimated assets at $50 million to $100 million and debts
at $10 million to $50 million.


NUVEEN INVESTMENTS: Swings to $59 Million Profit in Q3 2010
-----------------------------------------------------------
Nuveen Investments Inc. reported net income of $59.73 million on
$187.31 million of total operating revenues for the three months
ended Sept. 30, 2010, compared with a net loss of $3.01 million on
$161.56 million of total operating revenues for the same period a
year ago.

The Company's balance sheet at Sept. 30, 2010, $9.96 billion in
total assets, $8.52 billion in total liabilities, and
stockholders' equity of $1.04 million.

A full-text copy of the earnings release is available for free
at http://ResearchArchives.com/t/s?6f42

A full-text copy of the financial results is available for free at
http://researcharchives.com/t/s?6f8c

                    About Nuveen Investments

Founded in 1898, Nuveen Investments, Inc., based in Chicago,
Illinois, provides investment management services to high-net-
worth and institutional investors and the financial consultants
and advisors who serve them.  The Company derives substantially
all of its revenues from providing investment advisory services
and distributing managed account products, closed-end exchange-
traded funds and open-end mutual funds.

Nuveen carries a 'Caa1' corporate family rating from Moody's
Investors Service and a 'B-' long-term counterparty credit rating
from Standard & Poor's ratings service.

At the end of July 2010, Moody's changed the outlook for its he
ratings to positive from stable following the company's
announcement that it has entered into an agreement to acquire the
long-only assets of First American Fund Advisors, a subsidiary of
US Bancorp (Aa3/P- 1/Neg).  Moody's stated that Nuveen's outlook
change reflects improving fundamentals at Nuveen and expected
near-term financial and longer-term strategic benefits of the FAF
Advisors acquisition.  However, Moody's still views Nuveen's
leverage as "clearly excessive, particularly in the context of
elevated market volatility."  The Caa1 corporate family rating
incorporates a high potential for a modest capital restructuring,
Moody's said.


NXT NUTRITIONALS: Incurs $9 Million Net Loss in Sept. 30 Quarter
----------------------------------------------------------------
NXT Nutritionals Holdings Inc. filed its quarterly report on Form
10-Q, reporting a net loss of $9.07 million on $3,220 of sales for
the three months ended Sept. 30, 2010, compared with a net loss of
$16.13 million on $236,843 of sales for the same period a year
ago.

The Company's balance sheet at Sept. 30, 2010, showed
$3.13 million in total assets, $12.40 million in total
liabilities, and a stockholders' deficit of $9.26 million.

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

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6f6e

                      About NXT Nutritionals

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


OHIO VALLEY AMUSEMENT: Puts Former Owner in Chapter 7 Bankruptcy
----------------------------------------------------------------
The Hon. Patrick M. Flatley places Francis C. Tucker in bankruptcy
under Chapter 7 of the Bankruptcy Code.

Ohio Valley Amusement Company, Alexas Intertainment, LLC, and Al
Hart filed an involuntary Chapter 7 petition against Mr. Tucker
(Bankr. N.D. W.Va. Case No. 09-914) on April 27, 2009.  Mr. Tucker
filed an answer contesting the petition, and two motions to
dismiss.  The Court denied the motions to dismiss and held a trial
on the contested petition from June 1 through June 3, 2010.

The court finds that the Petitioners have established grounds for
relief under 11 U.S.C. Sec. 303.

From 1980 through 2006, Mr. Tucker operated a video lottery
business.  He organized OVA to hold the necessary licenses,
equipment and real estate leases, and was OVA's president and sole
shareholder.  In February 2003, Mr. Tucker authorized OVA's
Chapter 11 bankruptcy petition.  The case lingered until 2007,
when a group of investors doing business as H.E.B., LLC,
intervened.  HEB formed Alexas as a special purpose entity to
become a participant in the OVA bankruptcy case.  Alexas gained
control over the destiny of OVA by, among other things, purchasing
claims against the OVA bankruptcy estate to promote a plan of
reorganization.  The plan, backed by a substantial infusion of
capital by Alexas, was confirmed on December 14, 2007.  The
outstanding stock in OVA was canceled, and new stock was issued to
Alexas (49%), Rodney Berry (2%), and Mr. Tucker's brother, Tom
Tucker (49%), thus, leaving Mr. Tucker with no interest in OVA.
HEB later sold its membership interests in Alexas to Singleton.
Consequently, he participates in the management of OVA and holds a
49% ownership interest in OVA.

OVA's claim against Mr. Tucker arises from a March 27, 2002
promissory note he executed on behalf of Mound City, Inc. and OVA
to Northern Hancock Bank.  MCI and OVA both signed as borrowers on
the Northern Note; additionally, Mr. Tucker signed a personal
guaranty for the borrowers' obligations to Northern.

OVA's Chapter 11 plan provided for OVA to "continue to be bound by
its guarantee of the prepetition debts of Mound City, Inc. owed to
Northern," but for Northern to receive no distribution under the
plan.  After confirmation, Northern filed a complaint in the
Circuit Court of Hancock County, West Virginia, seeking a judgment
against MCI, OVA and Mr. Tucker, jointly and severally, for the
amount due on the Northern Note. O n March 18, 2009, Northern
executed an assignment of the state court action, which recites
that Northern had already assigned its rights in the Note and
collateral to OVA.  On the same date, Northern's president, Mark
A. Mangano, signed a written statement asserting that Northern
assigned all of its rights in the Northern Note to OVA.  The
petition alleges that OVA holds a $258,034.84 claim against Tucker
based on the Commercial Guaranty.

In addition, Mr. Tucker owes OVA $5,021.11 based on an award of
sanctions issued by the Bankruptcy Court on March 31, 2009 due to
Mr. Tucker's failure to attend a scheduled deposition.

A copy of the Court's memorandum decision, dated November 21,
2010, is available at http://is.gd/hDCXgfrom Leagle.com.


OMNIRELIANT HOLDINGS: Delays Filing Form 10-Q for Sept. 30 Qtr.
---------------------------------------------------------------
OmniReliant Holdings Inc. said it could not timely file its
quarterly report on Form 10-Q with the Securities and Exchange
Commission the Company requires additional time for compilation
and review to insure adequate disclosure of certain information
required to be included in the report.

As reported by the Troubled Company Reporter on October 30, 2010,
the Company incurred net loss of $30.8 million on $25.9 million
of revenue for fiscal year ended June 30, 2010, compared with a
net loss of $2.6 million on $9.8 million of revenue for fiscal
2009.

Meeks International LLC, in Tampa, Florida, expressed substantial
doubt about the Company's ability to continue as a going concern
following the Company's fiscal 2010 results.  The independent
auditors noted that the Company has incurred significant recurring
losses from operations and is dependent on outside sources of
financing for continuation of its operations.

The Company's balance sheet at June 30, 2010, showed $14.7 million
in total assets, $9.5 million in total liabilities, $7.8 million
in redeemable preferred stock, and a stockholders' deficit of
$2.6 million.

                    About OmniReliant Holdings

Clearwater, Fla.-based OmniReliant Holdings, Inc. (OTC BB: ORHI) -
- http://www.omnireliant.com/-- is a consumer products company
which focuses its efforts on building demonstrable brands globally
by deploying direct-to-consumer marketing channels internationally
that include live shopping, infomercials, eCommerce and
traditional "brick-and-mortar" channels of distribution.  As of
June 30, 2010, the Company's business segments consist of (i)
Consumer Products, (ii) Fashing Goods, and (iii) eCommerce.

The Consumer Products segment has historically been engaged in
identifying affordable and demonstrable products to market
principally to domestic customers through direct to consumer
channels such as television infomercials, live shopping networks,
and ecommerce channels.  The newly formed Fashion Goods segment is
engaged in the business of sourcing and distributing designer
fashion goods and accessories on a discounted basis to both the
Business-to-Business ("B2B") wholesale and Business-to-Consumer
("B2C") retail channels of distribution.  The newly formed
eCommerce segment is engaged in retail and wholesale distribution
of specific products and types or categories of products that do
not fit into the Company's Consumer Products or Fashion Goods
segments.


ONE MADISON: Plan to Infuse $40MM Capital, Finish Project Filed
---------------------------------------------------------------
The Wall Street Journal's Josh Barbanel reports that Ian Bruce
Eichner has joined forces with Ira Shapiro and Marc Jacobs, the
developers of the One Madison Park project, and a contractor on
the project in a plan filed late last week in U.S. bankruptcy
court to restructure the financing for the project.  As part of
that plan, Mr. Eichner would put in $40 million in fresh capital
and get control of the development.

The Journal relates One Madison Park is an unfinished, 50-story
bronze glass tower on East 22nd Street that is Manhattan's most
visible monument to the recent housing bust.  One Madison Park has
been the subject of numerous lawsuits, a foreclosure action, an
involuntary bankruptcy action and is now under the control of a
court-appointed trustee.

According to the Journal, Mr. Eichner is a developer best known in
the latest cycle for losing a major Las Vegas casino development.

"This means ultimately the project will be built," said Barry
Slotnick, a Manhattan lawyer who represents the owners of a
construction contractor, Kraus Hi-Tech Home Automation, who have
been working with Mr. Eichner on the plan, according to the
Journal.

The Journal says the mortgage holder, iStar Financial Inc., which
is also facing pressure from its own creditors, has not yet taken
a position in court.  Under the plan, iStar's debt, which it put
at $233.5 million including interest and fees in court filings,
would be reduced to $124 million.

"We have just received papers and will proceed to protect our
position," said Andrew G. Backman, a spokesman for iStar, in an
interview, according to the Journal.  He declined to elaborate.

The Journal relates the One Madison Park project came to halt in
February when iStar moved to foreclose on it.  At that point, the
first purchasers had closed on about a dozen apartments and others
were under contract.  The report says the foreclosure action was
delayed in June when some worried buyers filed an involuntary
bankruptcy petition in Delaware, asking the court to liquidate
four companies controlled by the developers.  IStar opposed the
bankruptcy filing as did the developers, Messrs. Shapiro and
Jacobs.

The Journal reports that on Friday, Bankruptcy Judge Kevin Gross
approved the switch to a Chapter 11 proceeding.  As part of the
bankruptcy filing, Mr. Eichner has agreed to provide $250,000
interim financing, during the bankruptcy reorganization.


PACIFIC AVENUE: Bankruptcy Judge Approves Sale of EpiCentre's Debt
------------------------------------------------------------------
Susan Stabley at Charlotte Business Journal reports that a federal
bankruptcy judge has approved the sale of the EpiCentre's debt.
EpiCentre developer Pacific Avenue said the buyer is Blue Air 2010
LLC.

Pacific Avenue obtained approval despite objections that some
details regarding the buyer's identity and terms of the deal have
not been disclosed, says Ms. Stabley.

                         About Pacific Avenue

Pacific Avenue, LLC, is a North Carolina limited liability company
whose principal place of business is located in Charlotte, North
Carolina.  Together with Pacific Avenue II, LLC, the Company owns
and operates the EpiCentre, a mixed-use commercial development
consisting of approximately 302,000 rentable square feet of office
and retail/entertainment space, plus an underground parking deck,
located at 210 E. Trade St. in the city block surrounded by the
light rail line, Fourth Street, College Street, and Trade Street
in uptown Charlotte, North Carolina.

Linda W. Simpson, the U.S. Bankruptcy Administrator for the
Western District of North Carolina, appointed six members to the
official committee of unsecured creditors in the Chapter 11 case
of Pacific Avenue, LLC.

Pacific Avenue, LLC, filed for Chapter 11 bankruptcy protection on
July 22, 2010 (Bankr. W.D. N.C. Case No. 10-32093).  Joseph W.
Grier, III, Esq., at Grier, Furr & Crisp, P.A., assists the
Company in its restructuring effort.  The Company estimated up to
$50,000 in assets and $50 million to $100 million in debts in its
bankruptcy petition.

The Company's affiliate, Pacific Avenue II, filed a separate
Chapter 11 petition.


PACIFIC ENERGY: Pitches $2.9 Mil. Settlement Over Platform Deal
---------------------------------------------------------------
Marathon Oil Co. and Pacific Energy Resources Ltd. have pitched a
$2.9 million settlement over the decommissioning of an Alaska
offshore platform, which is expected to cost at least $21 million,
and a related fuel gas contract, Bankruptcy Law360 reports.

                        About Pacific Energy

Headquartered in Long Beach, California, Pacific Energy Resources
Ltd. -- http://www.pacenergy.com/-- engaged in the acquisition
and development of oil and gas properties, primarily in the United
States.  The Company and seven of its affiliates filed for
Chapter 11 protection on March 8, 2009 (Bankr. D. Del. Lead Case
No. 09-10785).  The Debtor estimated between $100 million and
$500 million in assets and debts in its Chapter 11 petition.

Attorneys at Pachulski Stang Ziehl & Jones LLP, serve as
bankruptcy counsel to the Debtors.  The Debtors also tapped Rutan
& Tucker LLP as special corporation and litigation counsel;
Schully, Roberts, Slattery & Marino, PLC, as special oil and gas
and transactional counsel; Devlin Jensen as special Canadian
counsel; Scott W. Winn, at Zolfo Cooper Management, LLC, as chief
restructuring officer; Lazard Freres & Co. LLC as investment
banker; and Albrecht & Associates, Inc., as agent for the Debtors
in the sale of their oil and gas properties.  Omni Management
Group, LLC, is the claims, balloting, notice and administrative
agent for the Debtors.


PACIFIC ETHANOL: Posts $12.1 Million Net Loss in Q3 2010
--------------------------------------------------------
Pacific Ethanol, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $12.12 million on $46.04 million of
revenue for the three months ended September 30, 2010, compared
with a net loss of $11.86 million on $71.89 million of revenue for
the same period of 2009.

"We believe that current and future available capital resources,
revenues generated from operations, and other existing sources of
liquidity, including our credit facility and the remaining net
proceeds from our private offering of Notes and Warrants on
October 6, 2010, will be adequate to meet our anticipated working
capital and capital expenditure requirements for at least the next
twelve months," the Company said in the filing.

The Company's balance sheet as September 30, 2010, showed
$55.47 million in total assets, $51.54 million in total
liabilities,  and stockholders' equity of $3.93 million.

Hein & Associates LLP, in Irvine, 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 that the Company does not have sufficient liquidity to meet
its anticipated working capital, debt service and other liquidity
needs in the very near term.

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

               http://researcharchives.com/t/s?6f71

                     About Pacific Ethanol

Sacramento, Calif.-based Pacific Ethanol, Inc. (NASDAQ CM: PEIX)
-- http://www.pacificethanol.net/-- produces and sells low-carbon
renewable fuels and co-products, including wet distillers grain
("WDG"), a nutritional animal feed.  The Company sells ethanol to
integrated oil companies and gasoline marketers who blend ethanol
into gasoline, and provides transportation, storage and delivery
of ethanol through third-party service providers in the Western
United States, primarily in California, Nevada, Arizona, Oregon,
Colorado, Idaho and Washington.

On May 17, 2009, five indirect wholly-owned subsidiaries of
Pacific Ethanol, Inc., namely, Pacific Ethanol Madera LLC, Pacific
Ethanol Columbia, LLC, Pacific Ethanol Stockton, LLC, and Pacific
Ethanol Magic Valley, LLC, and Pacific Ethanol Holding Co. LLC
each commenced a case by filing voluntary petitions for relief
under Chapter 11 of the Bankruptcy Code in the United States
Bankruptcy Court for the District of Delaware.  The cases are
consolidated (for procedural purposes only) and are jointly
administered under Case No. 09-11713.

Neither Pacific Ethanol, Inc., as the parent company, nor any of
its other direct or indirect subsidiaries, including Kinergy
Marketing LLC and Pacific Ag. Products, LLC, have filed petitions
for relief under the Bankruptcy Code.

On June 29, 2010, the Debtors declared effective their amended
joint plan of reorganization with the Bankruptcy Court, which was
structured in cooperation with certain of the Debtors' secured
lenders.  Under the Plan, on the Effective Date, 100% of the
ownership interests in the Debtors was transferred to a newly-
formed limited liability company ("New PE Holdco") which was
wholly-owned by certain prepetition lenders, resulting in each of
the Debtors becoming direct or indirect wholly-owned subsidiaries
of New PE Holdco.  On October 6, 2010, the Company purchased a 20%
ownership interest in New PE Holdco from a number of the existing
owners.


PARMALAT SPA: Documents Won't Be Unsealed Until 2011
----------------------------------------------------
On behalf of Grant Thornton International, Inc., and Grant
Thornton LLP, James L. Bernard, Esq., at Stroock & Stroock &
Lavan, LLP, in New York, wrote to Judge Lewis A. Kaplan of the
United States District for the Southern District of New York
regarding the Court's protective order entered on August 3, 2005,
in Parmalat's multidistrict litigation.

Grant Thornton seeks extension of the date in the Court's
endorsement on the Protective Order, which indicates that
"notwithstanding anything to the contrary herein, any papers filed
under seal in this action may be made part of the public record on
or after 8/3/2010, unless the Court otherwise orders."

On August 3, 2010, the Court extended the date to November 3,
2010, after Defendants Bank of America Corporation, Bank of
America, N.A., and Banc of America Securities LLC asked for
extension.

Grant Thornton asked the Court to continue the unsealing date
until at least August 3, 2011, to reflect the fact that the
litigation remains active and ongoing in the Second Circuit.

Judge Kaplan granted Grant Thornton's extension request.

                    Dismissal Stipulations

Pursuant to Rule 41(a)(1)(A)(ii) of the Federal Rules of Civil
Procedure, Defendants Bank of America Corporation, Bank of
America, N.A., and Banc of America Securities LLC entered into
separate stipulations for the dismissal of the claims asserted by
these Plaintiffs against the Bank of America Defendants:

  (a) John Hancock Life Insurance Company, John Hancock Variable
      Life Insurance Company and John Hancock Insurance Company
      of Vermont;

  (b) Monumental Life Insurance Company, Transamerica Occidental
      Life Insurance Company and Transamerica Life Insurance
      Company;

  (c) The Prudential Insurance Company;

  (d) Allstate Life Insurance Company; and

  (e) Aviva Life Insurance Company.

The parties agree to dismiss the claims with prejudice and without
costs to any party.

Judge Kaplan approved the stipulations.

                      About Parmalat S.p.A.

Headquartered in Milan, Italy, Parmalat S.p.A. --
http://www.parmalat.net/-- sells nameplate milk products that can
be stored at room temperature for months.  It also has about 40
brand product lines, which include yogurt, cheese, butter, cakes
and cookies, breads, pizza, snack foods and vegetable sauces,
soups and juices.

The Company's U.S. operations filed for Chapter 11 protection on
February 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139).  Gary
Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal &
Manges LLP, represent the Debtors.  When the U.S. Debtors filed
for bankruptcy protection, they reported more than USUS$200
million in assets and debts.  The U.S. Debtors emerged from
bankruptcy on April 13, 2005.

Parmalat S.p.A. and its Italian affiliates filed separate
petitions for Extraordinary Administration before the Italian
Ministry of Productive Activities and the Civil and Criminal
District Court of the City of Parma, Italy on December 24, 2003.
Dr. Enrico Bondi was appointed Extraordinary Commissioner in
each of the cases.  The Parma Court has declared the units
insolvent.

On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No.
04-14268, in the United States Bankruptcy Court for the Southern
District of New York.

Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat
Capital Finance Ltd., and Food Holdings Ltd.  Dairy Holdings and
Food Holdings are Cayman Island special-purpose vehicles
established by Parmalat S.p.A.  The Finance Companies are under
separate winding up petitions before the Grand Court of the Cayman
Islands.  Gordon I. MacRae and James Cleaver of Kroll (Cayman)
Ltd. serve as Joint Provisional Liquidators in the cases.  On
January 20, 2004, the Liquidators filed Sec. 304 petition, Case
No. 04-10362, in the United States Bankruptcy Court for the
Southern District of New York.  In May 2006, the Cayman Island
Court appointed Messrs. MacRae and Cleaver as Joint Official
Liquidators.  Gregory M. Petrick, Esq., at Cadwalader, Wickersham
& Taft LLP, and Richard I. Janvey, Esq., at Janvey, Gordon,
Herlands Randolph, represent the Finance Companies in the Sec. 304
case.

The Honorable Robert D. Drain presided over the Parmalat Debtors'
U.S. cases.  On June 21, 2007, the U.S. Court granted Parmalat
permanent injunction.


PARMALAT SPA: Prosecutors Want Tanzi Arrested, Demand 20 Years
--------------------------------------------------------------
Prosecutors for the Italian government asked that Calisto Tanzi,
Parmalat S.p.A. founder and former chief executive officer, be
arrested to prevent him from escaping the country or committing
other crimes, ANSA reported.

An appeals court in Italy previously affirmed the 10-year sentence
handed down to Mr. Tanzi in December 2008 for his role in
Parmalat's collapse.  Prosecutors had asked for a stiffer sentence
for Mr. Tanzi, who was sentenced to 10 years in prison for
securities-laws violations, leading to Parmalat's collapse in
2003.

Although sentenced to 10 years in a separate market-rigging trial
in Milan nearly two years ago, Mr. Tanzi continues to live in his
estate near Parma, the Associated Press reported.  The report
added that it is rare in Italy for people to serve jail time at an
advanced age.

In another development, Parma prosecutors have demanded a 20-year-
sentence for Mr. Tanzi in his fraud trial, AP reported.

According to ANSA, other sentence requests included:

  -- 12 years for Mr. Tanzi's brother, Giorgio Tanzi;

  -- nine years and six months for ex-Parmalat chief financial
     officer Fausto Tonna;

  -- seven years and six months for ex-marketing director
     Domenico Barili;

  -- six years for Luciano Silingardo, a former independent
     board member at Parmalat Finanziaria;

  -- six years for Camillo Florini, an ex-executive in the
     group's tourism division; and

  -- five years for ex-Parmalat Venezuela chief Giovanni Bonici,
     who also headed Bonlat.

Mr. Tanzi's lawyers will make their rebuttal this month, the AP
report said.

                      About Parmalat S.p.A.

Headquartered in Milan, Italy, Parmalat S.p.A. --
http://www.parmalat.net/-- sells nameplate milk products that can
be stored at room temperature for months.  It also has about 40
brand product lines, which include yogurt, cheese, butter, cakes
and cookies, breads, pizza, snack foods and vegetable sauces,
soups and juices.

The Company's U.S. operations filed for Chapter 11 protection on
February 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139).  Gary
Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal &
Manges LLP, represent the Debtors.  When the U.S. Debtors filed
for bankruptcy protection, they reported more than USUS$200
million in assets and debts.  The U.S. Debtors emerged from
bankruptcy on April 13, 2005.

Parmalat S.p.A. and its Italian affiliates filed separate
petitions for Extraordinary Administration before the Italian
Ministry of Productive Activities and the Civil and Criminal
District Court of the City of Parma, Italy on December 24, 2003.
Dr. Enrico Bondi was appointed Extraordinary Commissioner in
each of the cases.  The Parma Court has declared the units
insolvent.

On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No.
04-14268, in the United States Bankruptcy Court for the Southern
District of New York.

Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat
Capital Finance Ltd., and Food Holdings Ltd.  Dairy Holdings and
Food Holdings are Cayman Island special-purpose vehicles
established by Parmalat S.p.A.  The Finance Companies are under
separate winding up petitions before the Grand Court of the Cayman
Islands.  Gordon I. MacRae and James Cleaver of Kroll (Cayman)
Ltd. serve as Joint Provisional Liquidators in the cases.  On
January 20, 2004, the Liquidators filed Sec. 304 petition, Case
No. 04-10362, in the United States Bankruptcy Court for the
Southern District of New York.  In May 2006, the Cayman Island
Court appointed Messrs. MacRae and Cleaver as Joint Official
Liquidators.  Gregory M. Petrick, Esq., at Cadwalader, Wickersham
& Taft LLP, and Richard I. Janvey, Esq., at Janvey, Gordon,
Herlands Randolph, represent the Finance Companies in the Sec. 304
case.

The Honorable Robert D. Drain presided over the Parmalat Debtors'
U.S. cases.  On June 21, 2007, the U.S. Court granted Parmalat
permanent injunction.


PFF BANCORP: Settles $44-Mil. Federal Tax Refund
------------------------------------------------
Bankruptcy Law360 reports that a bankruptcy judge approved a
settlement Monday that will divide a $44 million federal tax
refund between PFF Bancorp Inc. and the Federal Deposit Insurance
Corp., avoiding costly litigation from both sides.

                         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.


PHOENIX DEVELOPMENT: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Phoenix Development and Land Investment, LLC
        1020 Barber Creek Drive, Suite 200
        Watkinsville, GA 30677

Bankruptcy Case No.: 10-32128

Chapter 11 Petition Date: November 19, 2010

Court: United States Bankruptcy Court
       Middle District of Georgia (Athens)

Debtor's Counsel: Ernest V. Harris, Esq.
                  HARRIS & LIKEN, LLP
                  P.O. Box 1586
                  Athens, GA 30603
                  Tel: (706) 613-1953
                  Fax: (706) 613-0053
                  E-mail: ehlaw@bellsouth.net

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

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

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

The petition was signed by Conway Broun, manager.


POINT BLANK: Board Observer Reports to Committees
-------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Point Blank Solutions Inc. was authorized by the
bankruptcy judge last week to name Eric J. Rosenbloom to be an
observer of the board of directors.

According to Mr. Rochelle, the special position on the board was
cobbled together as a compromise resulting from a motion by the
creditors' committee seeking the appointment of a Chapter 11
trustee.  Mr. Rosenbloom was general counsel for Hilco/Great
American Group. He will report to the official committees
representing stockholders and unsecured creditors.

                         About Point Blank

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

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

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

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


PURADYN FILTER: September 30 Balance Sheet Upside-Down by $6MM
--------------------------------------------------------------
Puradyn Filter Technologies Incorporated's balance sheet at
September 30, 2010, showed total assets of $1,996,583, total
liabilities of $7,984,914, and a stockholders' deficit of
$5,988,331.

For three months ended September 30, the Company incurred net loss
of $132,023 compared with net loss of $533,743 for the same period
in 2009.

For nine months ended September 30, the Company incurred net loss
of $837,312 compared with net loss of $1,667,141 for the same
period in 2009.

The Company incurred net losses each year since inception and has
relied on the sale of its stock from time to time and loans from
third parties and from related parties to fund its operations.

The Company has been addressing the liquidity and working capital
issues and continues to attempt to raise additional capital with
institutional and private investors and current stockholders.  The
Company also continues to implement cost reductions in an effort
to improve margins and anticipate these cost reductions will
positively impact the results of operations during the balance of
2010 and beyond.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?6f61

                    About Puradyn Filter

Boynton Beach, Fla.-based Puradyn Filter Technologies Incorporated
(OTC BB: PFTI) -- http://www.puradyn.com/-- designs,
manufactures, markets and distributes worldwide the puraDYN(R)
bypass oil filtration system for use with substantially all
internal combustion engines and hydraulic equipment that use
lubricating oil.

                        Going Concern Doubt

Webb and Company, P.A., in Boynton Beach, Florida, 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 suffered recurring losses from
operations, its total liabilities exceed its total assets, and it
has relied on cash inflows from an institutional investor and
current stockholder.


PURESPECTRUM INC: Delays Filing of Form 10-Q for Sept. 30 Qtr.
--------------------------------------------------------------
Purespectrum Inc. said it could not timely file its quarterly
report on Form 10-Q with the Securities and Exchange Commission
because the company needs additional time to prepare and
review the quarterly report for the period ended September 30,
2010.

The Company incurred net losses from operations of $5.1 million
for the six months ended June 30, 2010.  In addition, at June 30,
2010, the Company has an accumulated deficit of $19.3 million and
negative working capital of $826,114.

The Company's balance sheet at June 30, 2010, showed $2.4 million
in total assets, $2.5 million in total liabilities, and a
stockholders' deficit of $112,212.

                     About PureSpectrum Inc.

Savannah, Ga.-based PureSpectrum, Inc. (OTC: PSRU)
-- http://www.purespectrumlighting.com/-- is engaged in the
development, marketing, licensing, and contract manufacturing of
lighting technology for use in residential, commercial, and
industrial applications worldwide.


QUALITY MAINTENANCE: Case Summary & 18 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Quality Maintenance, Inc.
        308 W. Hwy 66
        Milan, NM 87021

Bankruptcy Case No.: 10-15752

Chapter 11 Petition Date: November 18, 2010

Court: United States Bankruptcy Court
       New Mexico (Albuquerque)

Judge: Robert H. Jacobvitz

Debtor's Counsel: Don F. Harris, Esq.
                  1120 Pennsylvania St, NE
                  Albuquerque, NM 87110
                  Tel: (505) 299-4529
                  Fax: (505) 299-4524
                  E-mail: harrislaw@comcast.net

Scheduled Assets: $57,605

Scheduled Debts: $1,316,947

A list of the Company's 18 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nmb10-15752.pdf

The petition was signed by Maurice Duffy, president.


QUANTUM CORP: Prices $125 Million Conv. Senior Subordinate Notes
----------------------------------------------------------------
Quantum Corp. has priced a private placement of $125 million
aggregate principal amount of 3.50% Convertible Senior
Subordinated Notes due 2015 to be issued to qualified
institutional buyers in reliance on Rule 144A under the Securities
Act of 1933, as amended.  The Company has granted the initial
purchasers of the notes an over-allotment option to purchase up to
an additional $10 million aggregate principal amount of notes for
a period of 30 days from November 9, 2010.

In addition, Quantum expects to grant the initial purchasers of
the notes an over-allotment option to purchase up to an additional
$10 million aggregate principal amount of notes from the company.

The notes will be Quantum's unsecured senior subordinated
obligations and will bear interest semiannually at a rate of 3.50
percent per annum. The notes will be convertible, at the option of
the holders, into shares of the company's common stock at an
initial conversion rate of 230.8003 shares per $1,000 principal
amount of notes. At the initial conversion rate, the notes will be
convertible into shares of common stock at a conversion price of
approximately $4.33 per share, representing a conversion premium
of 32.5 percent over the last reported sale price of the company's
common stock on November 9, 2010, which was $3.27 per share. The
conversion rate will be adjusted for certain dilutive and
concentrative events and will be increased upon conversion in
connection with certain corporate transactions.

The notes will be convertible at any time prior to the close of
business on the business day immediately preceding the maturity
date of the notes.  The holders of the notes will have the ability
to require Quantum to repurchase the notes in whole or in part for
cash in the event of a fundamental change . In such case, the
repurchase price would generally be 100 percent of the principal
amount of the notes plus any accrued and unpaid interest.

Quantum intends to use the net proceeds from the private placement
primarily to repay in full all amounts outstanding under its 12
percent senior subordinated term loan agreements with EMC and to
use any remaining net proceeds to repay amounts owed under its
senior secured credit agreement with Credit Suisse.

                        About Quantum Corp.

Based in San Jose, California, Quantum Corp. (NYSE:QTM) --
http://www.quantum.com/-- is a storage company specializing in
backup, recovery and archive.  Quantum provides a comprehensive,
integrated range of disk, tape, and software solutions supported
by a world-class sales and service organization.

The Company's balance sheet at Sept. 30, 2010, showed
$459.56 million in total assets, $192.65 million in total current
liabilities, $350.59 million in total long-term liabilities, and a
stockholders' deficit of $83.68 million.


RADIENT PHARMACEUTICALS: To Report Hike in Net Loss for Jan.-Sept.
------------------------------------------------------------------
Radient Pharmaceuticals Corporation 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.

The Company said its expects to report a decrease in revenues and
an increase in net loss for the nine months ended September 30,
2010 as compared to the nine months ended September 30, 2009 due
to the deconsolidation of its Chinese subsidiary, JPI, which
occurred in the third quarter of our 2009 fiscal year.

The Company said it will report the third quarter 2010 revenues
and net loss when it finalizes its third quarter 2010 financial
statements by November 22, 2010.

                   About Radient Pharmaceuticals

Headquartered in Tustin, Calif., Radient Pharmaceuticals
Corporation -- http://www.Radient-Pharma.com/-- is engaged in the
research, development, manufacturing, sale and marketing of its
ONKO-SURE(TM) a proprietary IVD Cancer Test in the United States,
Canada, China, Chile, Europe, India, Korea, Taiwan, Vietnam and
other markets throughout the world.

Radient said in October 2010 it incurred a trigger
event on the 12% Convertible Notes issued in first and second
quarter of 2010 due to its failure to have the related
registration statement declared effective by June 1, 2010.  The
Company filed on Sept. 7, 2010, an Event of Default under those
same notes occurred since it did not hold the related shareholder
meeting by August 31, 2010.

The Company's balance sheet as of June 30, 2010, showed
$27.1 million in assets, $32.3 million in total liabilities, and
stockholders' deficit of $5.2 million.

As reported in the Troubled Company Reporter on April 19, 2010,
KMJ Corbin & Company LLP, in Costa Mesa, Calif., expressed
substantial doubt about the Company's ability to continue as a
going concern, following its 2009 results.  The independent
auditors noted that the Company incurred a significant operating
loss and negative cash flows from operations in 2009 and had a
working capital deficit of $4.2 million at December 31, 2009.


RCLC INC: Delays Filing of Form 10-Q for Sept. 30 Quarter
---------------------------------------------------------
RCLC Inc. formerly known as Ronson Corporation said it could not
timely file its quarterly report on Form 10-Q with the Securities
and Exchange Commission.

The Company said it has determined that additional time is
required in order to complete its Quarterly Report on Form 10-Q
for its quarter ended September 30, 2010, and the financial
statements included the report.  Due to circumstances, the work
necessary to complete the Form 10-Q could not be accomplished in
sufficient time to permit the filing on the due date of November
15, 2010, without unreasonable effort and expense.

The Company's sale of its aviation services business was completed
on October 15, 2010.  In addition,  there has been expenditure of
significant time and effort by management and staff  to satisfy
the required substantial additional reporting requirements of the
U.S Trustee in connection with the Company's bankruptcy
proceedings..  Additionally, the Company has continued to reduce
personnel further impacting our ability to timely satisfy this
periodic filing obligation.  For these reasons,  despite diligent
efforts, the Form 10-Q could not be completed by the November 15,
2010 filing date.

                          About RCLC Inc.

RCLC, Inc., formerly known as Ronson Corporation, in Woodbridge,
New Jersey, historically, has been engaged principally in these
businesses -- Consumer Products; and Aviation-Fixed Wing and
Helicopter Services.

Trenton, New Jersey-based Ronson Aviation, Inc., filed for Chapter
11 protection on August 17, 2010 (Bankr. D. N.J. Case No. 10-
35315).  The Debtor estimated its assets at $10 million to
$50 million and its debts at $1 million to $10 million.
Affiliates RCLC, Inc. (Bankr. D. N.J. Case No. 10-35313), and RCPC
Liquidating Corporation (Bankr. D. N.J. Case No. 10-35318) filed
separate Chapter 11 petitions on August 17, 2010, each estimating
their assets at $1 million to $10 million and debts at $1 million
to $10 million.  The cases, along with RCLC, Inc.'s, are jointly
administered, with RCLC, Inc., as the lead case.

Michael D. Sirota, Esq., at Cole, Schotz, Meisel, Forman &
Leonard, assists the Debtors their restructuring effort.

The Company's foreign subsidiary, RCC, Inc., formerly known as
Ronson Corporation of Canada Ltd. is not included in the filing.


REFCO INC: Court Approves Whittelsey Settlement
-----------------------------------------------
Albert Togut, in his capacity as Chapter 7 trustee of Refco LLC,
received approval from the Bankruptcy Court of a settlement
agreement he negotiated with Mark Whittelsey.

Mr. Whittelsey filed a claim against Refco LLC for $436,482 for
alleged unpaid commissions.

In support of his claim, Mr. Whittelsey asserted that in 2001, he
was a floor trader for Refco LLC and that Refco LLC agreed to
split the commissions he earned from trading with 40% to Mr.
Whittelsey and 60% to Refco LLC.  He further asserted that Refco
LLC failed to pay him his share of commissions that had been
generated between November 2004 and November 2005.  Mr. Whittelsey
subsequently provided to the Chicago Board of Trade, and to the
Refco LLC Chapter 7 Trustee, spreadsheets that listed the
contracts for which he claimed he was owed commissions.

Refco LLC agreed to transfer its memberships in the Chicago Board
of Trade to Man Financial Inc., now known as MF Global Inc., free
and clear of claims of the CBOT and its members in connection with
the sale of substantially all of Refco LLC's assets, including a
transfer of its futures commission merchant business, to MFG.  In
order to do so in accordance with CBOT rules, the Chapter 7
Trustee deposited with CBOT cash in an amount equal to the value
of Refco LLC's memberships.

Mr. Whittelsey is one of the CBOT members that filed CBOT claims
against Refco LLC.

The Chapter 7 Trustee filed with the CBOT a written objection to
the Whittelsey Claim, but the CBOT informed the Chapter 7 Trustee
that it was allowing the Whittelsey Claim.  The CBOT thereafter
paid $436,482 from the Deposit to Mr. Whittelsey.

The Chapter 7 Trustee objected to the CBOT's decision to allow the
Whittelsey Claim in full, and also objected to the Payment.

Counsel for the Chapter 7 Trustee and counsel for Mr. Whittelsey
thereafter communicated and exchanged documents and other
information regarding the basis for the Whittelsey Claim and for
the Chapter 7 Trustee's objections to the Whittelsey Claim and the
Payment, in an effort to narrow the issues in dispute and to
potentially resolve the Chapter 7 Trustee's objections to the
Whittelsey Claim and the Payment without litigation.

As a result of those efforts, the Chapter 7 Trustee and Mr.
Whittelsey have agreed to resolve any disputes regarding the
Whittelsey Claim and the Payment without the cost, expense, and
uncertainty of litigation, and without any admission of
liability, on agreed upon terms and conditions.

The parties particularly agree that Mr. Whittelsey will pay
$47,500 to the Chapter 7 Trustee without delay, upon the Court's
final and non-appealable approval of the parties' Settlement.
Moreover, the parties will also exchange mutual releases.

                       About Refco Inc.

Headquartered in New York, Refco Inc. -- http://www.refco.com/--
was a diversified financial services organization with operations
in 14 countries and an extensive global institutional and retail
client base.  Refco's worldwide subsidiaries were members of
principal U.S. and international exchanges, and were among the
most active members of futures exchanges in Chicago, New York,
London and Singapore.  Refco was also a major broker of cash
market products, including foreign exchange, foreign exchange
options, government securities, domestic and international
equities, emerging market debt, and OTC financial and commodity
products.  Refco was one of the largest global clearing firms for
derivatives.  The Company had operations in Bermuda.

The Company and 23 of its affiliates filed for Chapter 11
protection on October 17, 2005 (Bankr. S.D.N.Y. Case No.
05-60006).  J. Gregory Milmoe, Esq., at Skadden, Arps, Slate,
Meagher & Flom LLP, represented the Debtors in their restructuring
efforts.  Milbank, Tweed, Hadley & McCloy LLP, represented the
Official Committee of Unsecured Creditors.  Refco reported
US$16.5 billion in assets and US$16.8 billion in debts to the
Bankruptcy Court on the first day of its Chapter 11 cases.

The Court confirmed the Modified Joint Chapter 11 Plan of
Refco Inc. and certain of its Direct and Indirect Subsidiaries,
including Refco Capital Markets, Ltd., and Refco F/X Associates,
LLC, on December 15, 2006.  That Plan became effective on Dec. 26,
2006.  Pursuant to the plan, RJM, LLC, was named plan
administrator to reorganized Refco, Inc., and its affiliates, and
Marc S. Kirschner as plan administrator to Refco Capital Markets,
Ltd.

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


REFCO INC: IRS Directed by Bankr. Court to Produce Documents
------------------------------------------------------------
Bankruptcy Judge Robert Drain granted Refco Inc. and Refco Group
Ltd.'s request for the direction of document production by the
Internal Revenue Service.

Refco Inc. and RGL are authorized to issue a subpoena on IRS; and
the IRS is directed to produce any and all of Cantor Index's
federal tax return for the years 2002 through the present,
including original returns as well as amendments, supplements, or
modifications, so as to be received on or before 14 days after the
service of the Subpoena, to SNR Denton US LLP, at 1221 Avenue of
the Americas, in New York, New York 10020, attention: Arthur H.
Ruegger.

The Court's order is without prejudice to Refco Inc.'s and RGL's
right to apply for further discovery from IRS, or of any other
person or entity, Judge Drain clarified.

                       About Refco Inc.

Headquartered in New York, Refco Inc. -- http://www.refco.com/--
was a diversified financial services organization with operations
in 14 countries and an extensive global institutional and retail
client base.  Refco's worldwide subsidiaries were members of
principal U.S. and international exchanges, and were among the
most active members of futures exchanges in Chicago, New York,
London and Singapore.  Refco was also a major broker of cash
market products, including foreign exchange, foreign exchange
options, government securities, domestic and international
equities, emerging market debt, and OTC financial and commodity
products.  Refco was one of the largest global clearing firms for
derivatives.  The Company had operations in Bermuda.

The Company and 23 of its affiliates filed for Chapter 11
protection on October 17, 2005 (Bankr. S.D.N.Y. Case No.
05-60006).  J. Gregory Milmoe, Esq., at Skadden, Arps, Slate,
Meagher & Flom LLP, represented the Debtors in their restructuring
efforts.  Milbank, Tweed, Hadley & McCloy LLP, represented the
Official Committee of Unsecured Creditors.  Refco reported
US$16.5 billion in assets and US$16.8 billion in debts to the
Bankruptcy Court on the first day of its Chapter 11 cases.

The Court confirmed the Modified Joint Chapter 11 Plan of
Refco Inc. and certain of its Direct and Indirect Subsidiaries,
including Refco Capital Markets, Ltd., and Refco F/X Associates,
LLC, on December 15, 2006.  That Plan became effective on Dec. 26,
2006.  Pursuant to the plan, RJM, LLC, was named plan
administrator to reorganized Refco, Inc., and its affiliates, and
Marc S. Kirschner as plan administrator to Refco Capital Markets,
Ltd.

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


REFCO INC: LLC Trustee Proposes to Subordinate Late Claims
----------------------------------------------------------
Albert Togut, solely as the Chapter 7 Trustee for the estate of
Refco LLC, asks Judge Robert Drain to subordinate eight claims
because they were received after the Bar Date.

The Late-Filed Claims are:

Claimant                    Claim No.  Date Received  Claim Amt.
--------                    ---------  ------------- -----------
Calyon Financial SNC           537       07/19/06         $6,106

ABN AMRO Bank NV               542       07/18/06         28,146
Australian Branch

AP Services LLC                543       07/28/06      1,157,885

Century Group Holdings LL      548       07/18/06         50,146

Rechtsanwalte                  558       12/12/06      1,128,186

Victor Proeh                   559       10/13/06          1,675

Arakal Family Trust            568       01/30/07         45,642

Kevin J Hall                   579       03/03/07         69,902

Representing the Chapter 7 Trustee, Scott E. Ratner, Esq., at
Togut, Segal & Segal LLP, in New York, notes that the Claims Bar
Date set in the case of Refco LLC was July 17, 2006.  He adds that
the Chapter 7 Trustee mailed a written notice of the Bar Date to
Refco LLC's known creditors and former customers on
March 26, 2006.  Moreover, he avers, the Chapter 7 Trustee caused
a notice of the Bar Date to be published in the national and
global editions of The Wall Street Journal, The Times of London
and The Financial Times on April 20, 2006.

Accordingly, the holders of the Late Claims had actual notice of
both the commencement of the Refco LLC case and their
responsibility to timely file proofs of claim, but they each
failed to do so, Mr. Ratner asserts.

Because the Claims were submitted late, they should be
subordinated to all timely filed allowed claims including the
intercompany claims allowed for $575 million pursuant to a Court-
approved stipulation dated April 24, 2007, Mr. Ratner contends.

Moreover, the Claimants should not be permitted to extend
retroactively the time to file late proofs of claim because they
are not able to demonstrate "excusable neglect."

                       About Refco Inc.

Headquartered in New York, Refco Inc. -- http://www.refco.com/--
was a diversified financial services organization with operations
in 14 countries and an extensive global institutional and retail
client base.  Refco's worldwide subsidiaries were members of
principal U.S. and international exchanges, and were among the
most active members of futures exchanges in Chicago, New York,
London and Singapore.  Refco was also a major broker of cash
market products, including foreign exchange, foreign exchange
options, government securities, domestic and international
equities, emerging market debt, and OTC financial and commodity
products.  Refco was one of the largest global clearing firms for
derivatives.  The Company had operations in Bermuda.

The Company and 23 of its affiliates filed for Chapter 11
protection on October 17, 2005 (Bankr. S.D.N.Y. Case No.
05-60006).  J. Gregory Milmoe, Esq., at Skadden, Arps, Slate,
Meagher & Flom LLP, represented the Debtors in their restructuring
efforts.  Milbank, Tweed, Hadley & McCloy LLP, represented the
Official Committee of Unsecured Creditors.  Refco reported
US$16.5 billion in assets and US$16.8 billion in debts to the
Bankruptcy Court on the first day of its Chapter 11 cases.

The Court confirmed the Modified Joint Chapter 11 Plan of
Refco Inc. and certain of its Direct and Indirect Subsidiaries,
including Refco Capital Markets, Ltd., and Refco F/X Associates,
LLC, on December 15, 2006.  That Plan became effective on Dec. 26,
2006.  Pursuant to the plan, RJM, LLC, was named plan
administrator to reorganized Refco, Inc., and its affiliates, and
Marc S. Kirschner as plan administrator to Refco Capital Markets,
Ltd.

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


REGIONS FINANCIAL: Moody's Corrects Press Release on Ratings
------------------------------------------------------------
Moody's Investors Service has made a correction to first paragraph
to replace 'left all long-term ratings under review' with 'placed
all long-term ratings under review', and to include Regions Bank's
BFSR placed on review for possible downgrade.  Revised release is:

Moody's downgraded the ratings of Regions Financial Corporation
(senior to Ba3 from Ba1) and its subsidiaries, including its lead
bank, Regions Bank (long-term deposits to Ba1 from Baa3, short-
term to Not-Prime from Prime-3), and placed all long-term ratings
under review for further possible downgrade.  Regions Bank's BFSR
also was placed on review for possible downgrade.

                        Ratings Rationale

The downgrade and review follows Regions' announcement of senior
leadership changes in its risk management organization.  On
November 15, 2010, Regions announced the resignation of its Chief
Risk Officer, the retirement of the Director of Credit Risk, and
that the head of Problem Asset Management had left the company.

Regions has continued to face significant asset quality issues
given its credit concentrations as demonstrated by substantial
inflows of non-performing assets in 3Q10.  This, coupled with the
significant leadership changes in the company's risk management
organization, raises serious concerns regarding the firm's
controls and the path of future asset quality charges.  This was a
key concern that led to the rating action.

Additionally, given these developments, Moody's said that during
its review it will consider if its more severe stress scenario
better reflects the probable path of Regions asset quality and the
implications that this would have on Regions' capital base over
the next several quarters.

These actions had no impact on the FDIC-guaranteed debt issued by
Regions Bank, which remains at Aaa with a stable outlook.

Moody's last rating action on Regions was on November 1, 2010,
when the holding company's senior rating was lowered to Ba1 from
Baa3 and the bank's long-term deposits were lowered to Baa3 from
Baa1 as a result of the removal of systemic support assumptions
from the company's ratings.

The principal methodologies used in this rating were Bank
Financial Strength Ratings: Global Methodology published in
February 2007, Incorporation of Joint-Default Analysis into
Moody's Bank Ratings: A Refined Methodology published in March
2007 and Moody's Guidelines for Rating Bank Hybrid Securities and
Subordinated Debt Published in November 2009.

Regions Financial Corporation headquartered in Birmingham,
Alabama, reported total assets of $134 billion at September 30,
2010.

Issuer: AmSouth Bancorporation

Downgrades:

  -- Subordinate Regular Bond/Debenture, Downgraded to B1 from Ba2

Outlook Actions:

  -- Outlook, Changed to Rating Under Review From Negative

Issuer: AmSouth Bank

Downgrades:

  -- Subordinate Regular Bond/Debenture, Downgraded to Ba3 from
     Ba1

Outlook Actions:

  -- Outlook, Changed to Rating Under Review From Negative

Issuer: Regions Asset Management Company, Inc.

Downgrades:

  -- Preferred Stock Preferred Stock, Downgraded to B1 from Ba2

Outlook Actions:

  -- Outlook, Changed to Rating Under Review From Negative

Issuer: Regions Bank

Downgrades:

  -- Issuer Rating, Downgraded to Ba2 from Baa3

  -- OSO Rating, Downgraded to NP from P-3

  -- Deposit Rating, Downgraded to NP from P-3

  -- OSO Senior Unsecured OSO Rating, Downgraded to Ba2 from Baa3

  -- Multiple Seniority Bank Note Program, Downgraded to a range
     of Ba3 to NP from a range of Ba1 to P-3

  -- Subordinate Regular Bond/Debenture, Downgraded to Ba3 from
     Ba1

  -- Senior Unsecured Deposit Rating, Downgraded to Ba1 from Baa3

Outlook Actions:

  -- Outlook, Changed to Rating Under Review From Negative

Issuer: Regions Financial Corporation

Downgrades:

  -- Issuer Rating, Downgraded to Ba3 from Ba1

  -- Multiple Seniority Shelf, Downgraded to a range of (P)B3 to
      (P)Ba3 from a range of (P)B1 to (P)Ba1

  -- Subordinate Regular Bond/Debenture, Downgraded to B1 from Ba2

  -- Subordinate Shelf, Downgraded to (P)B1 from (P)Ba2

  -- Senior Unsecured Regular Bond/Debenture, Downgraded to Ba3
     from Ba1

Outlook Actions:

  -- Outlook, Changed to Rating Under Review From Negative

Issuer: Regions Financing Trust II

Downgrades:

  -- Preferred Stock Preferred Stock, Downgraded to B2 from Ba3
  -- Preferred Stock Shelf, Downgraded to (P)B2 from (P)Ba3

Outlook Actions:

  -- Outlook, Changed to Rating Under Review From Negative

Issuer: Regions Financing Trust III

Downgrades:

  -- Preferred Stock Preferred Stock, Downgraded to B2 from Ba3

Outlook Actions:

  -- Outlook, Changed to Rating Under Review From Negative

Issuer: Union Planters Bank, National Association

Downgrades:

  -- Subordinate Regular Bond/Debenture, Downgraded to Ba3 from
     Ba1

Outlook Actions:

  -- Outlook, Changed to Rating Under Review From Negative

Issuer: Union Planters Corporation

Downgrades:

  -- Subordinate Regular Bond/Debenture, Downgraded to B1 from Ba2

  -- Senior Unsecured Regular Bond/Debenture, Downgraded to Ba3
     from Ba1

Outlook Actions:

  -- Outlook, Changed to Rating Under Review From Negative

Issuer: Union Planters Preferred Funding Corp.

Downgrades:

  -- Preferred Stock Preferred Stock, Downgraded to B2 from Ba3

Outlook Actions:

  -- Outlook, Changed to Rating Under Review From Negative


RELIANCE INTERMEDIATE: DBRS Confirms Senior Notes at BB (High)
--------------------------------------------------------------
DBRS has confirmed the Senior Notes of Reliance Intermediate Holdings
LP's (HoldCo or the Company) at BB (high) with a Stable trend.  The
rating confirmation reflects the strong operating characteristics of
HoldCo's subsidiary Reliance LP (OpCo), largely driven by the water
heater rental and HVAC businesses, which accounts for the majority of
OpCo's EBITDA, coupled with financial and structural considerations.
The strength of OpCo is predominantly reflected in the stable cash flow
stream generated from the water heater and HVAC business segment that
services a portfolio of more than 1.2 million rental water heaters in
Ontario.  In addition, this segment has related activities that
complement the water heater rental business, including the retail sale,
rental, service and maintenance, and financing of HVAC equipment.  The
Company's security segment has approximately 362,000 customers providing
residential and commercial electronic security system sales,
installation, service, monitoring, and related commercial activities
across Canada.  HoldCo has reasonably modest business risk due to its
stable customer base, and a relatively stable financial profile.

The risk of this underlying business is viewed as moderate, given its
established presence in the Ontario market, the value proposition
offered to customers, high customer retention rates and its non-cyclical
nature.  Maintenance capital expenditures are significant and
predominately reflect the cost of preserving the long-term operation of
the existing water heater assets.  These maintenance capital
expenditures, however, remain stable and predictable, thus reducing the
volatility of free cash flows.  OpCo also benefits to an extent from the
modest diversification provided by the security and HVAC businesses.
While the security business carries higher volatility than the water
heater and HVAC rental businesses, its contribution is viewed as
manageable for the assigned rating.

Rating considerations largely focus on the ability of OpCo to service
its substantial financial obligations given the strong cash flow from
the underlying business operations and its ability to make stable
distributions to HoldCo.  Holdco's ability to service the HoldCo Notes
is entirely dependent on distributions from OpCo.  Holdco's rating of BB
(high) incorporates its 100% interest in OpCo's strong operating
businesses (which is predominantly reflected in the stable cash flow
stream generated from the water heater and HVAC business segments), as
well as its subordinate position to OpCo's debt.


RICK SALVINO: Case Summary & 6 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Rick James Salvino
        2637 Scenic Crest Lane
        Corona, CA 92881

Bankruptcy Case No.: 10-47622

Chapter 11 Petition Date: November 21, 2010

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

Judge: Ellen Carroll

Debtor's Counsel: Winfield S. Payne, III, Esq.
                  WINFIELD PAYNE AND ASSOCIATES
                  3403 10th Street, Suite 751
                  Riverside, CA 92501
                  Tel: (951) 276-9300
                  E-mail: wpaynelaw@aol.com

Scheduled Assets: $7,701,328

Scheduled Debts: $4,284,451

A list of the Debtor's six largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-47622.pdf


ROBERT LECKIE: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Joint Debtors: Robert Leckie
               Alesandra Leckie
               10750 Renegade Court
               Reno, NV 89511

Bankruptcy Case No.: 10-54545

Chapter 11 Petition Date: November 18, 2010

Court: United States Bankruptcy Court
       District of Nevada (Reno)

Judge: Gregg W. Zive

Debtor's Counsel: Kevin A. Darby, Esq.
                  DARBY LAW PRACTICE, LTD.
                  4777 Caughlin Pkwy
                  Reno, NV 89519
                  Tel: (775) 322-1237
                  Fax: (775) 996-7290
                  E-mail: kevin@darbylawpractice.com

Scheduled Assets: $1,173,600

Scheduled Debts: $2,924,112

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nvb10-54545.pdf


ROBERT WALSH: Case Summary & 8 Largest Unsecured Creditors
----------------------------------------------------------
Joint Debtors: Robert Walsh
               Lorraine Walsh
               46 Laura Lane
               Morristown, NJ 07960

Bankruptcy Case No.: 10-45765

Chapter 11 Petition Date: November 18, 2010

Court: United States Bankruptcy Court
       District of New Jersey (Newark)

Judge: Novalyn L. Winfield

Debtor's Counsel: Richard Honig, Esq.
                  HELLRING, LINDEMAN, GOLDSTEIN & SIEGAL
                  One Gateway Center, 8th Floor
                  Newark, NJ 07102
                  Tel: (973) 621-9020
                  E-mail: rbhonig@hlgslaw.com

Scheduled Assets: $3,245,250

Scheduled Debts: $2,609,676

A list of the Joint Debtors' eight largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/njb10-45765.pdf

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Walsh Securities, Inc.                 10-44845   11/09/10


SAINT VINCENTS: To Sell Off Remaining Assets Next Month
-------------------------------------------------------
Dow Jones' Daily Bankruptcy Review reports that the remains of St.
Vincent's Catholic Medical Center in Greenwich Village will go on
sale next month at discount prices.

Saint Vincents Catholic Medical Centers -- http://www.svcmc.org/
-- was anchored by St. Vincent's Hospital Manhattan, an academic
medical center located in Greenwich Village and the only emergency
room on the Westside of Manhattan from Midtown to Tribeca, St.
Vincent's Westchester, a behavioral health hospital in Westchester
County, and continuing care services that include two skilled
nursing facilities in Brooklyn, another on Staten Island, a
hospice, and a home health agency serving the Metropolitan New
York area.

Saint Vincent Catholic Medical Centers of New York and six of its
affiliates first filed for Chapter 11 protection on July 5, 2005
(Bankr. S.D.N.Y. Case No. 05-14945 through 05-14951).

St. Vincents Catholic Medical Centers returned to bankruptcy court
by filing another Chapter 11 petition (Bankr. S.D.N.Y. Case No.
10-11963) on April 14, 2010.  The Debtor estimated assets of
$348 million against debts totaling $1.09 billion in the new
petition.

Although the hospitals emerged from the prior reorganization in
July 2007 with a Chapter 11 plan said to have "a realistic chance"
of paying all creditors in full, the bankruptcy left the medical
center with more than $1 billion in debt.  The new filing occurred
after a $64 million operating loss in 2009 and the last potential
buyer terminated discussions for taking over the flagship
hospital.

Adam C. Rogoff, Esq., and Kenneth H. Eckstein, Esq., at Kramer
Levin Naftalis & Frankel LLP, represent the Debtor in its
Chapter 11 effort.


SB PARTNERS: Lowers Net Loss to $179,285 in Q3 2010
---------------------------------------------------
SB Partners filed its quarterly report on Form 10-Q, reporting a
net loss of $179,285 on $637,190 of total revenue for the three
months ended Sept. 30, 2010, compared with a net loss of
$19,000,000 on $610,301 of total revenue for the same period a
year ago.

The Company's balance sheet at Sept. 30, 2010, showed
$37.27 million in total assets, $38.78 million in total
liabilities, and a stockholders' deficit of $1.51 million.

As reported in the Troubled Company Reporter on June 15, 2010,
Dworken, Hillman, LaMorte and Sterczala, P.C., in Shelton,
Connecticut, expressed substantial doubt about SB Partners'
ability to continue as a going concern, following its 2009
results.  The independent auditors noted that the partnership's
unsecured credit facility matured on February 28, 2009, and the
partnership has not yet been able to arrange a replacement loan,
extension or refinancing.

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6f41

Milford, Conn.-based SB Partners is a New York limited partnership
engaged in acquiring, operating and holding for investment a
varying portfolio of real estate interests.   As of June 30,
2010, the partnership owns an industrial flex property in Maple
Grove, Minnesota and warehouse distribution centers in Lino Lakes,
Minnesota and Naperville, Illinois.

In addition, the Company has a 30% interest in Sentinel Omaha,
LLC.  Sentinel Omaha is a real estate investment company which
currently owns 24 multifamily properties and 1 industrial property
in 17 markets.  Sentinel Omaha is an affiliate of the
partnership's general partner.


SEMGROUP LP: Court Approves Accord in Commodities Trading Suit
--------------------------------------------------------------
The Hon. Brendan Linehan Shannon approves the settlement among
Bettina Whyte, as Trustee for the SemGroup Litigation Trust, and
Thomas L. Kivisto, Gregory C. Wallace, Brent Cooper, Kevin L.
Foxx, and Alex G. Stallings.  Judge Shannon rejects the objection
from PricewaterhouseCoopers LLP.

The Trustee alleges 30 counts against Thomas L. Kivisto, Gregory
C. Wallace, Brent Cooper, Kevin L. Foxx, Alex G. Stallings, and
Westback Purchasing Co., LLC, primarily related to the Defendants'
involvement with the Debtors' commodities trading, certain
interested transactions, and the Debtors' financial and other
support of Westback.  The Complaint asserts claims for fraudulent
transfer, breach of fiduciary duty, breach of contract, and unjust
enrichment.

Following oral argument, on March 29-30, 2010, the Individual
Defendants and the Trustee participated in a mediation before the
Honorable Nicholas Politan.  Thereafter, the parties continued
settlement discussions and on June 11, 2010, they reached
agreement on the key terms of a settlement to fully and finally
resolve all potential or actual claims and disputes between the
Individual Defendants and the Trustee related to the facts and
circumstances underlying the Complaint.  The Settlement provides
that the Individual Defendants will cause $30 million to be paid
to the Litigation Trust from the Individual Defendants' director
and officer insurance policies and the Settling Parties will agree
to mutual releases.  The Settlement is conditioned upon the entry
of a Court order partially lifting the automatic stay, and
approving a contribution bar that would discharge the Individual
Defendants from all liability to any other person for contribution
or indemnity relating to the released claims.

PwC argues that the Contribution Bar does not comport with due
process principles and may affect PwC's ability to seek
contribution from the Individual Defendants in the event that PwC
is found liable in separate litigation between PwC and the Trustee
currently pending in Oklahoma federal court.  PwC contends that
the Contribution Bar should not be approved because it would or
could operate to extinguish the rights of entities who are not
parties to the Adversary and who were not involved in negotiating
the Settlement.

The Settling Parties disagree and argue that PwC has been afforded
sufficient due process through its participation in this
proceeding.  Moreover, due process is not an issue because the
Contribution Bar does not deprive PwC of any rights.  The Settling
Parties contend that pursuant to Oklahoma law, PwC could not
maintain a direct contribution claim against the Individual
Defendants, but would be limited to seeking setoff or judgment
reduction for the $30 million to be paid pursuant to the
Settlement.

The Court agrees that PwC was afforded sufficient notice of the
Settlement and its terms and had an opportunity to object.  PwC
took advantage of that opportunity and submitted its written
Objection prior to the Settlement Motion Hearing.  PwC also
presented oral argument at the Hearing and was afforded the
opportunity to provide subsequent briefing on its Objection.  In
these circumstances, due process does not require anything
further.

The case is BETTINA WHYTE, LITIGATION TRUSTEE, on behalf of the
Litigation Trust, Plaintiff, v. THOMAS L. KIVISTO, GREGORY C.
WALLACE, WESTBACK PURCHASING CO., LLC, BRENT COOPER, KEVIN L. FOXX
and ALEX G. STALLINGS, Defendants, Adv. Pro. No. 09-50189, and a
copy of the Court's opinion, dated November 19, 2010, is available
at http://is.gd/hDtMifrom Leagle.com.

                        About SemGroup L.P.

SemGroup, L.P. -- http://www.semgrouplp.com/-- is a midstream
service company that provides diversified services for end users
and consumers of crude oil, natural gas, natural gas liquids and
refined products.  Services include purchasing, selling,
processing, transporting, terminalling and storing energy.
SemGroup serves customers in the United States, Canada, Mexico and
Wales.

SemGroup L.P. and its debtor-affiliates filed for Chapter 11
protection (Bankr. D. Del. Case No. 08-11525) on July 22, 2008.
John H. Knight, Esq., L. Katherine Good, Esq. and Mark
D. Collins, Esq., at Richards Layton & Finger; Harvey R. Miller,
Esq., Michael P. Kessler, Esq., and Sherri L. Toub, Esq., at Weil,
Gotshal & Manges LLP; and Martin A. Sosland, Esq., and Sylvia A.
Mayer, Esq., at Weil Gotshal & Manges LLP, represent the Debtors
in their restructuring efforts.  Kurtzman Carson Consultants
L.L.C. is the Debtors' claims agent.  The Debtors' financial
advisors are The Blackstone Group L.P. and A.P. Services LLC.

Margot B. Schonholtz, Esq., and Scott D. Talmadge, Esq., at Kaye
Scholer LLP; and Laurie Selber Silverstein, Esq., at Potter
Anderson & Corroon LLP, represent the Debtors' prepetition
lenders.

SemGroup L.P.'s affiliates, SemCAMS ULC and SemCanada Crude
Company, sought protection under the Companies' Creditors
Arrangement Act (Canada) on July 22, 2008.  Ernst & Young, Inc.,
is the appointed monitor of SemCanada Crude Company and its
affiliates' reorganization proceedings before the Canadian
Companies' Creditors Arrangement Act.

SemGroup L.P.'s consolidated, unaudited financial conditions as of
June 30, 2007, showed $5,429,038,000 in total assets and
$5,033,214,000 in total debts.

SemGroup LP won confirmation from the Bankruptcy Court of its
Fourth Amended Plan of Reorganization on October 28, 2008.  The
Plan, distributing more than $2.5 billion in value to
stakeholders, was declared effective on November 30, 2008.


SEP RIVERPARK: Files Schedules of Assets & Liabilities
------------------------------------------------------
SEP Riverpark Plaza, L.L.C., has filed with the U.S. Bankruptcy
Court for the Western District of Oklahoma its schedules of assets
and liabilities, disclosing:

  Name of Schedule                        Assets       Liabilities
  ----------------                        ------       -----------
A. Real Property                       $19,055,000
B. Personal Property                      $110,623
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                      $11,227,204
E. Creditors Holding
   Unsecured Priority
   Claims                                                 $700,464
F. Creditors Holding
   Unsecured Non-priority
   Claims                                                  $99,017
                                        -----------    -----------
      TOTAL                             $19,165,623    $12,026,685

A copy of the Schedules is available for free at:

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

Oklahoma City, Oklahoma-based SEP Riverpark Plaza, L.L.C., aka
Riverpark Plaza Apartments, filed for Chapter 11 bankruptcy
protection on November 11, 2010 (Bankr. W.D. Okla. Case No. 10-
16832).  G. Rudy Hiersche, Jr., Esq., who has an office in
Oklahoma City, Oklahoma, assists the Debtor in its restructuring
effort.


SEP RIVERPARK: Section 341(a) Meeting Scheduled for Dec. 6
----------------------------------------------------------
The U.S. Trustee for Region 20 will convene a meeting of SEP
Riverpark Plaza, L.L.C.'s creditors on December 6, 2010, at
3:30 p.m.  The meeting will be held at 215 Dean A. McGee Avenue,
Room 119, Oklahoma City, OK 73102.

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

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

Oklahoma City, Oklahoma-based SEP Riverpark Plaza, L.L.C., aka
Riverpark Plaza Apartments, filed for Chapter 11 bankruptcy
protection on November 11, 2010 (Bankr. W.D. Okla. Case No. 10-
16832).  G. Rudy Hiersche, Jr., Esq., who has an office in
Oklahoma City, Oklahoma, assists the Debtor in its restructuring
effort.  According to its schedules, the Debtor disclosed
$19,165,623 in total assets and $12,026,685 in total debts.


SIERRA STAINLESS: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Sierra Stainless, Inc.
        23 Airpark Vista Blvd.
        Dayton, NV 89403

Bankruptcy Case No.: 10-54574

Chapter 11 Petition Date: November 19, 2010

Court: United States Bankruptcy Court
       District of Nevada (Reno)

Judge: Gregg W. Zive

Debtor's Counsel: Alan R. Smith, Esq.
                  THE LAW OFFICES OF ALAN R. SMITH
                  505 Ridge St.
                  Reno, NV 89501
                  Tel: (775) 786-4579
                  Fax: (775) 786-3066
                  E-mail: mail@asmithlaw.com

Scheduled Assets: $500,373

Scheduled Debts: $3,484,904

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nvb10-54574.pdf

The petition was signed by Vincent Frere, president.


SIONITA ANGELES: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Sionita Angeles
        4991 Partrige Circle
        La Palma, CA 90623

Bankruptcy Case No.: 10-26531

Chapter 11 Petition Date: November 19, 2010

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

Debtor's Counsel: Matthew E. Faler, Esq.
                  17330 Brookhurst Street, Suite 240
                  Fountain Valley, CA 92708
                  Tel: (714) 465-4433
                  Fax: (714) 965-7823
                  E-mail: mfaler@faler-law.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/cacb10-26531.pdf


SIX FLAGS: Del. Bankr. Ct. Dismiss Suit vs. Parc
------------------------------------------------
In SIX FLAGS, INC., Plaintiff, v. PARC MANAGEMENT, LLC, PARC
OPERATIONS, LLC, PARC 7F-OPERATIONS CORPORATION, PARC ELITCH
GARDENS, LLC, PARC WHITE WATER BAY, LLC, PARC FRONTIER CITY, LLC,
PARC SPLASHTOWN, LLC, PARC WATERWORLD, LLC, and PARC ENCHANTED
PARCS, LLC, Defendants, Adv. Pro. No. 10-50061 (Bankr. D. Del.),
Six Flags sued the Parc defendants for turnover of property of the
estate, damages, and declaratory relief resulting from Parc's
alleged breach of the terms of an unsecured promissory note.  In
April 2007, Parc acquired nine amusement parks from Six Flags for
$312 million.  Parc paid $275 million in cash and the remainder
was financed by Six Flags through an unsecured subordinated
promissory note with a face value of $37 million that Parc agreed
to pay, with interest, over 10 years.  Contemporaneously, Parc
entered into a number of sale-leaseback transactions with a non-
party, CNL Financial Group, Inc., whereby CNL purchased the parks
from Parc then leased them back to Parc.  Six Flags also assisted
Parc in this financing arrangement by executing a Limited Rent
Guaranty, guaranteeing Parc's lease obligations or deferring
payments under the Note up to a maximum amount of $9,999,999.

In the Complaint, Six Flags claims that as a result of Parc's
refusal to pay the $1,001,875 on January 1, 2009 and $1,000,000 on
January 1, 2010, it is entitled to turnover of $2,001,875 plus
statutory interest pursuant to 11 U.S.C. Sec. 542(b).  Six Flags
also claims that it was damaged for $2,001,875 when Parc breached
the terms of the Note by failing to pay the Excess Amounts.  Six
Flags also alleges that it has been damaged in an as yet
undetermined amount when Parc further breached the terms of the
Note by failing pay additional interest.  Finally, Six Flags
claims that it is entitled to a declaratory judgment for future
breaches of the Contested Provision in the Note.

Parc sought dismissal, arguing that the complaint failed to state
breach of contract claims because at equalization as provided in
the Note the Deferred Amount is added to the balloon payment and
is no longer subject to reduction, creating a "one-time" Excess
Amount at Equalization.  Parc next argues that even if the Court
were to agree with Six Flags' interpretation of the Contested
Provision, the Excess Amounts were not permitted by the a separate
subordination agreement.

The Hon. Christopher Sontchi grants, without prejudice, the
Defendants' motion to dismiss Count I of the Complaint for
turnover of property; grants the motion to dismiss Count II;
grants, without prejudice, the motion to dismiss Count III of the
Complaint for breach of contract; and grants the motion to dismiss
Count IV of the Complaint for declaratory judgment.  The Court
says the only plausible Excess Payment that Six Flags alleges Parc
did not pay is $1,875.  It is plausible that this alleged debt is
matured and may be subject to turnover.  However, as this alleged
amount is de minimis, the Motion to Dismiss is granted, without
prejudice.  Six Flags' rights to plead turnover related to the
alleged Excess Amount of $1,875 is reserved.

A copy of the Court's opinion dated November 19, 2010, is
available at http://is.gd/hDAwDfrom Leagle.com.

The Parc defendants are represented by:

          Raymond H. Lemisch, Esq.
          BENESCH, FRIEDLANDER, COPLAN & ARONOFF LLP
          PNC Bank Center Delaware Avenue
          222 Delaware Avenue, Suite 801
          Wilmington, DE 19801-1611
          Telephone: 302-442-7005
          Facsimile: 302-442-7012
          E-mail: rlemisch@beneschlaw.com

               - and -

          David M. Wells, Esq.
          GUNSTER, YOAKLEY & STEWART, P.A.
          225 Water Street, Suite 1750
          Jacksonville, FL 32202-5185
          Telephone: (866) 915-7185
                     (904) 354-1980
          Facsimile: (904) 354-2170
          E-mail: dwells@gunster.com

Headquartered in New York City, Six Flags, Inc., is the world's
largest regional theme park company with 20 parks across the
United States, Mexico and Canada.

Six Flags filed for Chapter 11 protection on June 13, 2009 (Bankr.
D. Del. Lead Case No. 09-12019).  Paul E. Harner, Esq., Steven T.
Catlett, Esq., and Christian M. Auty, Esq., at Paul, Hastings,
Janofsky & Walker LLP in Chicago, Illinois, served as the Debtors'
lead counsel.  Daniel J. DeFranceschi, Esq., and L. Katherine
Good, Esq., at Richards, Layton & Finger, P.A., in Wilmington,
Delaware, served as local counsel.  Cadwalader Wickersham & Taft
LLP, served as special counsel.  Houlihan Lokey Howard & Zukin
Capital Inc., served as financial advisors, while KPMG LLC served
as accountants.  Kurtzman Carson Consultants LLC served as claims
and notice agent.  As of March 31, 2009, Six Flags had
$2,907,335,000 in total assets and $3,431,647,000 in total
liabilities.

The Court on April 29, 2010, confirmed the Modified Fourth Amended
Plan of Reorganization of Six Flags Inc. and its debtor-
affiliates.  On April 30, the Debtors consummated their
restructuring through a series of transactions contemplated by the
Plan and the Plan became effective pursuant to its terms.  On the
Effective Date, Six Flags, Inc. changed its corporate name to "Six
Flags Entertainment Corporation."


SOMERSET INTERNATIONAL: Posts $318,500 Net Loss in Q3 2010
----------------------------------------------------------
Somerset International Group, Inc., filed its quarterly report on
Form 10-Q, reporting a net loss of $318,492 on $932,400 of revenue
for the three months ended September 30, 2010, compared with a net
loss of $348,531 on $1.03 million of revenue for the same period
of 2009.

The Company's balance sheet as of September 30, 2010, showed
$4.32 million in total assets, $8.72 million in total
liabilities, and a stockholders' deficit of $4.40 million.

"Currently, the Company does not have significant cash or other
material assets, nor does it have operations or a source of
revenue which is adequate to cover its administrative costs for a
period in excess of one year and allow it to continue as a going
concern," the Company said in the filing.

The Company discloses it will require financing to fund its
current operations and will require additional financing to
acquire or develop other business opportunities.

The Company believes the aforementioned conditions raise
substantial doubt about its ability to continue as a going
concern.

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

               http://researcharchives.com/t/s?6f66

Based in Bedminster, N.J., Somerset International Group Inc.
(PNK: SOSI.PK) -- http://www.somersetinternational.com/-- was
incorporated under the laws of the State of Delaware in 1968.
The Company in the business of acquiring profitable or near term
profitable private small and medium sized businesses that provide
proprietary security products and solutions for people and
enterprises -- from personal safety to information security -- and
maximizing the profitability of our acquired entities and to act
as a holding company for such entities.


STAINLESS STEEL: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Stainless Steel Fabricating, Inc.
        202 Industrial Drive
        Columbus, WI 53925

Bankruptcy Case No.: 10-18550

Chapter 11 Petition Date: November 19, 2010

Court: United States Bankruptcy Court
       Western District of Wisconsin (Madison)

Debtor's Counsel: Rebecca R. DeMarb, Esq.
                  DEMARB LAW OFFICE, LLC
                  122 W. Washington Avenue, Suite 808
                  Madison, WI 53703
                  Tel: (608) 310-3305
                  E-mail: rebecca@demarblaw.com

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

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/wiwb10-18550.pdf

The petition was signed by George Hall, president.


SUZETTE WASHINGTON: Case Summary & 9 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Suzette G. Washington
        1169 Mescal Street
        Seaside, CA 93955
        Tel: (831) 595-7460

Bankruptcy Case No.: 10-61910

Chapter 11 Petition Date: November 18, 2010

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

Judge: Stephen L. Johnson

Debtor's Counsel: Mitchell L. Abdallah, Esq.
                  ABDALLAH LAW GROUP
                  980 9th Street, 16th Floor
                  Sacramento, CA 95814
                  Tel: (916)446-1974
                  E-mail: mitch@abdallahlaw.net

Scheduled Assets: $930,144

Scheduled Debts: $1,263,688

A list of the Debtor's nine largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/canb10-61910.pdf


TAMARACK RESORT: Has $40MM Offer; Homeowners to Operate Resort
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Tamarack Resort LLC received an offer from Green
Valley Holdings LLC to purchase the golf and ski resort in Valley
County, Idaho, for $40 million.

Mr. Rochelle relates that although Tamarack isn't operating, there
is agreement for the homeowners' association to lease the ski
resort for the coming winter season.  The land is leased from the
State of Idaho.  The association will pay the state $80,000 to
extend the time for assuming the lease until June 2011.  Credit
Suisse has paid the state almost $300,000 in rent that was due in
January.  Credit Suisse will pay the state another $125,000 for
2011.

Meanwhile, according to Mr. Rochelle, a hearing is scheduled for
Dec. 6 and 7, to consider a request to dismiss the Chapter 11 case
or convert it.  After the bankruptcy judge refused to approve $2
million in secured financing, the secured lender Credit Suisse AG,
Cayman Islands Branch, filed a motion to dismiss the Chapter 11
reorganization or convert to a liquidation in Chapter 7.

                       About Tamarack Resort

Tamarack Resort LLC, a golf and ski resort in Valley County,
Idaho, was sent to Chapter 7 after creditors submitted an
involuntary petition (Bankr. D. Idaho Case No. 09-03911).  The
petitioning creditors include an affiliate of Bank of America
Corp. owed $4.7 million.

On April 9, 2010, Bankruptcy Judge Terry Myers signed an order
converting Tamarack Resort LLC's involuntary chapter 7 case to a
chapter 11 reorganization.

The project's 27.5% owner, VPG Investments Inc., filed for Chapter
11 reorganization in 2008, only to have the petition dismissed in
October 2008 at the request of the secured creditor, Credit
Suisse, Caymans Islands Branch.  VPG was controlled by Mexican
businessman Alfredo Miguel Afif.  Credit Suisse, the agent for the
secured lenders, characterized VPG's Chapter 11 case as "a classic
example of a bad faith filing" made "solely as a litigation
tactic" to stop foreclosure.


TAYLOR BEAN: Court Approves Sale of Jumbolair Mortgage Loan
-----------------------------------------------------------
Eric Morath, writing for Dow Jones' Daily Bankruptcy Review,
reports that a bankruptcy judge on Friday cleared Taylor Bean &
Whitaker Mortgage Corp. to sell a mortgage loan for Jumbolair
Inc., a private Ocala, Fla., runway and luxury-housing
development, at a bankruptcy-court auction for $2.11 million.

DBR reports an entity called Jumbo Holding LLC outbid Gissy
Holdings II LLC to gain control of the property, according to
court papers filed in the Jacksonville bankruptcy court.

DBR says the sale has the potential to restart development in the
luxury community, where both sedans and Cessnas can roll through
the neighborhood.

DBR notes according to court papers, Jumbolair hasn't made
payments on its $7.36 million mortgage since January 2009, but
Taylor Bean's bankruptcy stalled foreclosure efforts.  The loan is
secured by a lien on the 7,550-foot paved airstrip and other
community property, but not the land and homes owned by the
residents.  With the loan sold, foreclosure on the property, and
eventually new home building, can begin.

                          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.


TAYLOR BEAN: Wants Plan Exclusivity Extended Until April
--------------------------------------------------------
Taylor, Bean & Whitaker Mortgage Corp., et al., ask the U.S.
Bankruptcy Court for the Middle District of Florida to extend
until April 23, 2011, their exclusive period to solicit
acceptances for the proposed Plan of Liquidation.

The Debtors filed their request for an extension before the
exclusive period was set to expire on November 23, 2010.

The Plan Proponents need sufficient time to properly solicit votes
and tabulate ballots following the final Disclosure Statement
hearing; and out of an abundance of caution to allow for the
possibility of further modifications to the Second Amended Plan
that may necessitate an extension of the voting deadline.

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

The Court set a hearing on January 19, to consider confirmation of
the Debtors' Plan.  Objections, if any, are due 5:00 p.m.,
Prevailing Eastern Time, on January 12.

                         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.


TAYLOR BEAN: Proposes Settlement Resolving Trust Claims
-------------------------------------------------------
Taylor, Bean & Whitaker Mortgage Corp., et al., ask the U.S.
Bankruptcy Court for the Middle District of Florida to approve
settlements as to certain claims and potential causes of action
arising out of and relating to:

   -- mortgage loans held by 12 separate trusts which were
      established pursuant to mortgage-backed securitizations;
      and

   -- the servicing of the mortgage loans by the Debtors.

The stipulation was entered among (i) the Debtors; (ii) Wells
Fargo, N.A., in its capacity as master servicer, trust
administrator and securities administrator, and successor
servicer; (iii) the applicable trustee of each trust; (iv) if
applicable the entities which provided insurance to holders of
certain certificates issued by some of the trusts; and The
Official Committee of Unsecured Creditors in the Chapter 11 cases
of the Debtor.

The parties agree that it will be in their best interests to
resolve their disputes through a compromise.

The terms of the settlement include, among other things:

   -- the settlement agreements provide for the recognition of the
      TBW claim of $101,350,000 and the offsetting upon the damage
      claims of $10,150,060, and the terms and conditions upon
      which the Debtor may be paid up to $90,748,236 for the TBW
      claim, which amount is net of the recouped amount and
      certain specific issues.

   -- Funds available to pay that portion of the TBW claims
      comprised of the servicing fees include funds on deposit in
      the custodial accounts at Regions.  Funds available to pay
      that portion of the TBW claims comprised of servicing
      advances and for Wells Fargo, the trustees and the insurers
      to recoup the offsetting damage claims consist of funds
      which are from sources designated in the servicing
      agreements as the permissible sources or reimbursement of
      servicing advances.  As of September 30, 2010, the eligible
      funds totaled $76,554,196 and will increase thereafter as
      new funds are received from those sources.

   -- The monetary terms and conditions of the settlement
      agreements considered in the aggregate include: (i) the
      transfer to Wells Fargo, the Trusts and its
      certificateholders, and the insurers, as applicable, of
      $96,334,684 from funds totaling $101,766,141 held in
      custodial accounts of the Trusts at Regions and in the
      accounts which remain the subject of Colonial Bank Freeze;
      (ii) TBW's retention of the remaining 45,431,457 of those
      funds in satisfaction of that portion of the TBW claim
      attributable to the servicing fees, thereby reducing the TBW
      claim from $101,350,000 to $95,918,603; (iii) the payment of
      the recouped amount of $101,160,160 from the eligible funds,
      thereby further reducing the TBW claim to $85,768,543; and

      (iv) the payment of the remaining amount of the TBW clam
      from eligible funds on hand at the effective date, and for
      each trust where the eligible fund funds are less than then
      the remaining amount of the  TBW claim, from eligible funds
      collected after the effective date.

The Debtors relate that the settlement agreements have resolved
numerous claims and issues significant to the Debtors' cases.
Without the resolution, the Debtor would be forced to expend
significant resources on protracted litigation, thereby
diminishing the ultimate distribution to creditors.

The Debtors also ask that the Court set December 17 at 5:00 p.m.,
prevailing Eastern Time, as the deadline for filing objections.
If no objections are filed, enter an order authorizing the Debtor
to enter the compromises with the parties.

The Committee filed the motion in behalf of the Debtors.

                         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.


TBS INT'L: Lenders Extend Forbearance Until Dec. 29
---------------------------------------------------
TBS International plc said various lender groups have agreed to
continue to forbear from November 15, 2010, to December 29, 2010,
from exercising their rights and remedies which arise from the
Company's failure to make principal payments when due.

The Company said it will not make principal payments due on its
financing facilities during the extended forbearance period, but
it will continue to pay interest on those facilities at the
default interest rate.  The Company and its lenders continue to
negotiate amendments to its various financing facilities that will
change the current payment schedules and cure any existing
defaults, and TBS believes that appropriate amendments to its
various financing facilities will be executed prior to the
expiration of the deferral.

The new forbearance agreements replace the Company's minimum cash
liquidity covenant during the forbearance period, providing that
the Company's cash balance as of the last business day of any week
or averaged weekly cash balance must not fall below $15.0 million.
Each lender who consented to the forbearance agreements will
receive a consent fee equal to 0.05% of its total outstanding loan
amount.

                   About TBS International plc

Dublin, Ireland-based TBS International plc (NASDAQ: TBSI)
-- http://www.tbsship.com/-- is a fully-integrated transportation
service company that provides worldwide shipping solutions to a
diverse client base of industrial shippers.

As reported in the Troubled Company Reporter on March 19, 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 that
the Company believes it will not be in compliance with the
financial covenants under its credit facilities during 2010, which
under the agreements would make the debt callable.  "This has
created uncertainty regarding the Company's ability to fulfill its
financial commitments as they become due."


TEMPUS RESORTS: Section 341(a) Meeting Scheduled for Dec. 20
------------------------------------------------------------
The U.S. Trustee for Region 21 will convene a meeting of Tempus
Resorts International, Ltd.'s creditors on December 20, 2010, at
10:00 a.m.  The meeting will be held at 6th Floor Suite 600, 135
West Central Boulevard, Orlando, FL 32801.

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

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

Orlando, Florida-based Tempus Resorts International, Ltd., filed
for Chapter 11 bankruptcy protection on November 19, 2010 (Bankr.
M.D. Fla. Case No. 10-20709).  Elizabeth A. Green, Esq., at Baker
& Hostetler LLP, assists the Debtor in its restructuring effort.
It estimated its assets and debts at $100 million to $500 million.

Affiliates Tempus Palms International, Ltd. (Bankr. M.D. Fla. Case
No. 10-20712); Tempus Golf Development, LLC (Bankr. M.D. Fla. Case
No. 10-20714); Tempus Select, LLC (Bankr. M.D. Fla. Case No. 10-
20715); Backstage Myrtle Beach, LLC (Bankr. M.D. Fla. Case No. 10-
20716); Tempus Resorts Management, Ltd. (Bankr. M.D. Fla. Case No.
10-20717); Tempus Resorts Realty, LLC (Bankr. M.D. Fla. Case No.
10-20718); Tempus International Marketing Enterprises, Ltd.
(Bankr. M.D. Fla. Case No. 10-20719); and Time Retail, LLC (Bankr.
M.D. Fla. Case No. 10-20720) filed separate Chapter 11 petition.

Tempus Resorts estimated its assets and debts at $100,000 to
$500,000.  Tempus Golf Debt. Estimated its assets and debts at
$1 million to $10 million.  Tempus Palms International estimated
its assets at $100 million to $500 million.


TERRESTAR NETWORKS: Can Honor Prepetition Insurance Policies
------------------------------------------------------------
TerreStar Networks Inc. and its units won approval from Judge Sean
Lane of the U.S. Bankruptcy Court for the Southern District of New
York for authority to continue administering their prepetition
insurance coverage policies and practices.  In addition, they ask
the Court to authorize financial institutions to honor all related
checks and electronic payment requests.

In connection with the operation of their business and the
management of their properties, the Debtors maintain a
comprehensive insurance program that provides coverage related
to, among other things, satellite in-orbit activities, property
liability, general liability, directors' and officers' liability,
employment practices liability and business automobile liability.

Ira S. Dizengoff, Esq., at Akin Gump Strauss Hauer & Feld LLP, in
New York, reveals that the Debtors' annual premiums last year
together with the associated taxes and fees for the Insurance
Programs totaled approximately $4,007,345.

Debtor TerreStar Networks Inc. is the named insured under the
Satellite Policy, which is provided by a consortium of 21
insurers, a list of which is available for free at:

            http://bankrupt.com/misc/TSN_21Insurers.pdf

The current Satellite Policy covers the period from July 1, 2010
to June 30, 2011, and has a limit of $200 million for in-orbit
coverage.  Mr. Dizengoff reveals that the Debtors paid a premium
of approximately $3,149,189 for the Satellite Policy, which
included all satellite in-orbit coverage fees and all broker fees
payable to Aon Inc., the Debtors' insurance broker for the
Satellite Policy.  The full premium payment of $3,149,189 was
paid on July 28, 2010.

The Debtors employ several insurance agents including Marsh USA,
Edgewood Partners, Armfield, Harrison & Thomas, Inc., and
International Space Brokers to assist with the procurement and
negotiation of their Insurance Programs.

All broker fees incurred by the Debtors in connection with the
Insurance Programs are absorbed into the Insurance Premiums and
no separate broker fees are paid to the Insurance Agents,
according to Mr. Dizengoff.

The Insurance Programs are essential to the preservation of the
value of the Debtors' business, property and assets; and failure
to pay premiums for the Policies when due may harm the Debtors'
estates in several ways, including the loss of insurance coverage
and subsequent need to obtain replacement insurance on an
emergency basis, likely at a higher price, Mr. Dizengoff asserts.

The Debtors do not believe that there are any outstanding
prepetition Insurance Premium obligations as of the Petition
Date.  However, several of the Debtors' directors' and officers'
insurance policies will expire in the coming months, Mr.
Dizengoff notes.

The Debtors aver that they have sufficient availability of funds
to pay the amounts in the ordinary course of business by virtue
of cash reserves, expected cash flows from ongoing business
operations and anticipated access to debtor-in-possession
financing.

                     About TerreStar Networks

Reston, Va.-based TerreStar Corporation (NASDAQ: TSTR)
-- http://www.terrestar.com/-- is in the mobile communications
business through its ownership of TerreStar Networks, its
principal operating subsidiary, and TerreStar Global.

TerreStar Networks, in cooperation with its Canadian partners,
TerreStar Canada and TerreStar Solutions, majority-owned
subsidiaries of Trio 1 and 2 General Partnerships, plans to launch
an innovative wireless communications system to provide mobile
coverage throughout the United States and Canada using integrated
satellite-terrestrial smartphones and other devices.  This system
build out will be based on an integrated satellite and ground-
based technology intended to provide communication service in most
hard-to-reach areas and will provide a nationwide interoperable,
survivable and critical communications infrastructure.  The
Company intends to provide multiple communications applications,
including voice, data and video services.

As of June 30, 2010, the Company had four wholly owned
subsidiaries, MVH Holdings Inc., Motient Holdings Inc., TerreStar
Holdings Inc., and TerreStar New York Inc.  Motient Ventures
Holding Inc., a wholly owned subsidiary of MVH Holdings Inc.,
directly holds approximately 89.3% and 86.5% interest in TerreStar
Networks and TerreStar Global, respectively.

TerreStar Networks Inc. and Its affiliates filed voluntary
petitions for relief under Chapter 11 of the United States
Bankruptcy Code in Manhattan (Bankr. S.D.N.Y. Lead Case No.
10-15446).

The Debtors' parent, TerreStar Corporation (NASDAQ: TSTR), is not
among the Chapter 11 filers.

The Garden City Group, Inc., will act as claims and noticing agent
in the Chapter 11 cases.  Michel Wunder, Esq., Ryan Jacobs, Esq.,
and Jarvis Hetu, Esq. at Fraser Milner Casgrain LLP and  Ira
Dizengoff, Esq., Arik Preis, Esq., and Ashleigh Blaylock, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, serve as bankruptcy
counsel to the Debtors.  Blackstone Advisory Partners LP is the
financial advisor.

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


TERRESTAR NETWORKS: Proposes to Reject 6 Motient Property Leases
----------------------------------------------------------------
TerreStar Networks Inc. and its units ask the Bankruptcy Court for
authority to reject six unexpired leases and subleases of non-
residential real property as of October 19, 2010, pursuant to
Section 365(a) of the Bankruptcy Code.

The Real Property Leases are:

  (1) A commercial lease agreement between Motient
      Communications Inc., formerly known as Ardis Company, as
      tenant, and Knightsbridge II, as landlord, dated as of
      January 31, 1991

  (2) A sublease agreement between Motient, as sublessor and
      Xata Corporation, as successor to Geologic Solutions Inc.,
      affiliate and permitted assignee of Logo Acquisition
      Corporation, as sublessee, dated as of September 14, 2006

  (3) A sublease agreement between Motient, as sublessor and
      Extend Health, Inc., as sublessee, dated as of August 20,
      2007

  (4) A sublease agreement between Motient, as sublessor, and
      Rollin J. Soskin & Associates, Ltd., as sublessee,
      effective as of November 2006

  (5) A sublease agreement between Motient, as sublessor, and
      Amphenol T&M Antennas, Inc., as sublessee, dated as of
      September 10, 2007

  (6) A commercial and industrial lease agreement between
      TerreStar Networks Inc., as tenant, and BCI Northwood
      Flex, L.C., as landlord, dated as of October 22, 2007

The Debtors have reviewed and determined that the Leases are no
longer of any value or utility to them or to their estates.  The
Debtors neither occupy nor require the office space located in
the Knightsbridge Building and the BCI Building.  The Debtors
also do not believe that any material value can be obtained in an
assumption and assignment of the Leases.

The Debtors note that if the Leases are not rejected, they would
incur unnecessary monthly expenses aggregating $380,488.

                     About TerreStar Networks

Reston, Va.-based TerreStar Corporation (NASDAQ: TSTR)
-- http://www.terrestar.com/-- is in the mobile communications
business through its ownership of TerreStar Networks, its
principal operating subsidiary, and TerreStar Global.

TerreStar Networks, in cooperation with its Canadian partners,
TerreStar Canada and TerreStar Solutions, majority-owned
subsidiaries of Trio 1 and 2 General Partnerships, plans to launch
an innovative wireless communications system to provide mobile
coverage throughout the United States and Canada using integrated
satellite-terrestrial smartphones and other devices.  This system
build out will be based on an integrated satellite and ground-
based technology intended to provide communication service in most
hard-to-reach areas and will provide a nationwide interoperable,
survivable and critical communications infrastructure.  The
Company intends to provide multiple communications applications,
including voice, data and video services.

As of June 30, 2010, the Company had four wholly owned
subsidiaries, MVH Holdings Inc., Motient Holdings Inc., TerreStar
Holdings Inc., and TerreStar New York Inc.  Motient Ventures
Holding Inc., a wholly owned subsidiary of MVH Holdings Inc.,
directly holds approximately 89.3% and 86.5% interest in TerreStar
Networks and TerreStar Global, respectively.

TerreStar Networks Inc. and Its affiliates filed voluntary
petitions for relief under Chapter 11 of the United States
Bankruptcy Code in Manhattan (Bankr. S.D.N.Y. Lead Case No.
10-15446).

The Debtors' parent, TerreStar Corporation (NASDAQ: TSTR), is not
among the Chapter 11 filers.

The Garden City Group, Inc., will act as claims and noticing agent
in the Chapter 11 cases.  Michel Wunder, Esq., Ryan Jacobs, Esq.,
and Jarvis Hetu, Esq. at Fraser Milner Casgrain LLP and  Ira
Dizengoff, Esq., Arik Preis, Esq., and Ashleigh Blaylock, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, serve as bankruptcy
counsel to the Debtors.  Blackstone Advisory Partners LP is the
financial advisor.

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


TERRESTAR NETWORKS: Proposes to Reject Telx Group Contracts
-----------------------------------------------------------
TerreStar Networks Inc. and its units ask the Bankruptcy Court for
authority to reject the executory contract they entered into with
The Telx Group, Inc., pursuant to Section 365(a) of the Bankruptcy
Code.

The Contracts consists of (i) the TerreStar Master
Interconnections Facilities License Agreement between TSN and
Telx, which includes two Facility Specific Rider agreements; and
(ii) a letter agreement dated May 14, 2010, between TSN and Telx-
Dallas LLC.

Upon review, the Debtors ascertained that the Telx Contracts are
no longer necessary for their business operations.

The Debtors assert that rejection of the Contracts is appropriate
as they have never used the New York Licensed Area and have
neither used the services of nor occupied the Dallas Licensed
Area since 2008.

Instead, the Contracts only represent a net drain to the Debtors'
estates.  The Debtors cite that rejection of the Contracts will
enable them to save about $28,000 per month for the use of the
Dallas Licensed Area, and about $22,000 for the use of the New
York Licensed Area.

                     About TerreStar Networks

Reston, Va.-based TerreStar Corporation (NASDAQ: TSTR)
-- http://www.terrestar.com/-- is in the mobile communications
business through its ownership of TerreStar Networks, its
principal operating subsidiary, and TerreStar Global.

TerreStar Networks, in cooperation with its Canadian partners,
TerreStar Canada and TerreStar Solutions, majority-owned
subsidiaries of Trio 1 and 2 General Partnerships, plans to launch
an innovative wireless communications system to provide mobile
coverage throughout the United States and Canada using integrated
satellite-terrestrial smartphones and other devices.  This system
build out will be based on an integrated satellite and ground-
based technology intended to provide communication service in most
hard-to-reach areas and will provide a nationwide interoperable,
survivable and critical communications infrastructure.  The
Company intends to provide multiple communications applications,
including voice, data and video services.

As of June 30, 2010, the Company had four wholly owned
subsidiaries, MVH Holdings Inc., Motient Holdings Inc., TerreStar
Holdings Inc., and TerreStar New York Inc.  Motient Ventures
Holding Inc., a wholly owned subsidiary of MVH Holdings Inc.,
directly holds approximately 89.3% and 86.5% interest in TerreStar
Networks and TerreStar Global, respectively.

TerreStar Networks Inc. and Its affiliates filed voluntary
petitions for relief under Chapter 11 of the United States
Bankruptcy Code in Manhattan (Bankr. S.D.N.Y. Lead Case No.
10-15446).

The Debtors' parent, TerreStar Corporation (NASDAQ: TSTR), is not
among the Chapter 11 filers.

The Garden City Group, Inc., will act as claims and noticing agent
in the Chapter 11 cases.  Michel Wunder, Esq., Ryan Jacobs, Esq.,
and Jarvis Hetu, Esq. at Fraser Milner Casgrain LLP and  Ira
Dizengoff, Esq., Arik Preis, Esq., and Ashleigh Blaylock, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, serve as bankruptcy
counsel to the Debtors.  Blackstone Advisory Partners LP is the
financial advisor.

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


TEXAS RANGERS: Judge Lynn Castigated Lawyers, Transcript Shows
--------------------------------------------------------------
Eric Morath, writing for Dow Jones' Daily Bankruptcy Review,
reports that transcripts unsealed this week revealed that Judge D.
Michael Lynn of the Fort Worth, Texas, bankruptcy court called
lawyers involved in Texas Rangers' bankruptcy into his chambers
July 9 to warn about "trying the case in the media."  The chambers
conference occurred about a month before Judge Lynn approved the
team's sale out of Chapter 11.

Mr. Morath reports the judge expressed contempt for sports
reporters, lawyers talking to the media and baseball's designated-
hitter rule at the closed-door meeting with attorneys.  According
to the transcripts, Mr. Morath relates, Judge Lynn said he
typically doesn't read about cases he's overseeing but admitted it
was impossible to avoid hearing about the high-profile Rangers -
and he wasn't happy about what he read.

"Sports reporters, I've found, are convinced they know more, and
actually know less, than even the business reporters," Judge Lynn
said, DBR says.

According to the DBR report, Judge Lynn took specific aim at
current Rangers managing partner Chuck Greenberg, a sports
attorney, who at the time was bidding for the team.  The judge
said he felt Mr. Greenberg was holding himself out as an attorney
when he questioned Judge Lynn's decisions in the media.

Judge Lynn said he would bring an ethics complaint against Mr.
Greenberg in his home state of Pennsylvania if such behavior
continued.

The report notes Judge Lynn also asked Martin Sosland, Esq., a
partner with Weil, Gotshal & Manges LLP, which represented the
Rangers in bankruptcy, why he didn't file the petition in New
York, where the firm files most of it high-profile cases.

"You file all these wonderful big cases where only business
reporters pay any attention and there are no fans involved," Judge
Lynn said, implying the case received more intense media attention
because the Rangers play a few miles from his courtroom.  DBR
relates before Mr. Sosland responded, Judge Lynn said "I
appreciate your confidence in this court, I think."

DBR also says Mr. Sosland pointed out that Judge Lynn has handled
other major cases, such as Pilgrim's Pride Corp.'s filing.

The report notes Judge Lynn also revealed that William Snyder, the
chief restructuring officer appointed to represent the team, had
received death threats.  The judge said he notified U.S. Marshals
of the threats.

Bill Rochelle, the bankruptcy columnist at Bloomberg News, reports
that, added that according to the transcript, Judge Lynn also said
that "people who are trying their case in the media are trying to
bully me.  I do not like being bullied."  In the conference, Judge
Lynn also referred to a prior hearing in which some lawyers were
participating by telephone conference call.  Thinking the call had
been discontinued when the line was still open into the courtroom,
a lawyer for Major League Baseball said, in substance, that the
league would terminate the Rangers' franchise if the disposition
of the team weren't to MLB's liking. Judge Lynn said that the
statement was "very unprofessional."  If it were to occur again,
Judge Lynn said he would end the lawyer's right to participate in
the case and refer the matter to disciplinary authorities.

                   About Texas Rangers Baseball

Texas Rangers Baseball Partners owns and operates the Texas
Rangers Major League Baseball Club, a professional baseball club
in the Dallas/Fort Worth Metroplex.  TRBP is a Texas general
partnership, in which subsidiaries of HSG Sports Group LLC own a
100% stake.  Controlled by Thomas O. Hicks, HSG also indirectly
wholly-owns Dallas Stars, L.P., which owns and operates the Dallas
Stars National Hockey League franchise.  The Texas Rangers have
had five owners since the club moved to Arlington in 1972.  Mr.
Hicks became the fifth owner in the history of the Texas Rangers
on June 16, 1998.

In its petition, Texas Rangers Baseball Partners said it had both
assets and debt of less than $500 million.

Martin A. Sosland, Esq., at Weil, Gotshal & Manges LLP, serves as
bankruptcy counsel to the Debtor.  Forshey & Prostok LLP is the
conflicts counsel.  Parella Weinberg Partners LP serves as
financial advisor.

Lenders to the Texas Rangers sought to force the baseball team's
equity owners -- Rangers Equity Holdings, L.P. and Rangers Equity
Holdings GP, LLC -- into bankruptcy court protection (Bankr. N.D.
Tex. Case No. 10-43624 and 10-43625).  The lenders, a group that
includes investment funds Monarch Alternative Capital and
Kingsland Capital Management, filed an involuntary bankruptcy
petition on May 28 against the two companies.  The two companies
were not included in the May 24 Chapter 11 filing of TRBP.

U.S. Bankruptcy Judge Stacey G. C. Jernigan on August 5 confirmed
the fourth amended version of the Prepackaged Plan of
Reorganization of Texas Rangers Baseball Partners.  The judge's
confirmation order clears the way for a group of Hall of Fame
pitcher Nolan Ryan, and Pittsburgh sports attorney and minor-
league team owner Charles Greenberg to purchase the Texas Rangers.
The Ryan group paid $385 million in cash and assumed $208 million
in liabilities.  The Ryan group outbid Dallas Mavericks owner Mark
Cuban at an auction.


TIMOTHY RICE: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: Timothy A. Rice
               Sandra T. Rice
               14645 Stonewall Drive
               Silver Spring, MD 20905

Bankruptcy Case No.: 10-36407

Chapter 11 Petition Date: November 19, 2010

Court: United States Bankruptcy Court
       District of Maryland (Greenbelt)

Debtor's Counsel: Jeffrey M. Sherman, Esq.
                  JACKSON & CAMPBELL
                  1120 20th Street NW, South Tower
                  Washington, DC 20036
                  Tel: (202) 457-1613
                  Fax: (202) 457-1678
                  E-mail: jsherman@jackscamp.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/mdb10-36407.pdf


TIREX CORPORATION: SEC Grants Firm Waiver of Re-Audit
-----------------------------------------------------
The Securities & Exchange Commission recently approved a request
by The Tirex Corporation, owner of a patented tire recycling
technology, the TCS System, to waive a re-audit on some of its
previous financial filings.

Tirex is in the process of filing audits by M&K CPAS PLLC of
Houston, Texas, for the fiscal years ended June 30, 2008
(restated) and 2009.

"While the Company plans to report minor adjustments to the years
2001 to 2008," according to Tirex President, John L. Threshie Jr.,
"it not only would have been costly and time-consuming to have it
re-audited, it wouldn't have revealed any significant changes to
influence investors.  We are working closely with the SEC and M&K
to be sure we are in compliance and can once again get current in
our filings," Mr. Threshie added.

                Important Recent Corporate Development

The formerly announced North American scrap tire recycling expert
working with Tirex has completed a TCS technology market study and
identified its first market location.

"We are currently negotiating relationships in that market to
integrate our technology and better business opportunities with
established companies," said Mr. Threshie.

                            About Tirex

Tirex's TCS process freezes scrap tire pieces with cold air -- as
opposed to expensive liquid nitrogen -- and then "breaks" the
rubber into granules in a patented "fracturing mill," instead of
cutting and shredding it.  This process also separates the
marketable strands of steel and fiber from the frozen ground
rubber with an environmentally-friendly, economically-attractive,
"green" tire recycling system.


TRANSFIELD ER: Chapter 15 Case Summary
--------------------------------------
Chapter 15 Petitioner: Casey McDonald, Bob Yap Cheng Ghee and
                       Patrick Cowley, as joint liquidators of
                       Transfield ER Cape Ltd. in the liquidation
                       proceedings in a British Virgin Islands
                       court.

Chapter 15 Debtor: Transfield ER Cape Ltd.
                   C/O TrustNet(BVI) Ltd. TrustNet Chambers
                   P.O. Box 3444
                   Road Town, Tortola
                   British Virgin Islands

Chapter 15 Case No.: 10-16270

Chapter 15 Petition Date: November 22, 2010

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

About the Debtor: Transfield ER Cape Ltd. is an operator of bulk
                  cargo ships. TERC has pending liquidation
                  proceedings in British Virgin Islands court.
                  TERC's main bankruptcy in the British Virgin
                  Islands is already recognized by the English
                  High Court of Justice, Chancery Division.  In
                  addition, TERC has received a winding up order
                  from a Singapore court, which appointed the same
                  Joint Liquidators (Mr. McDonald, Mr. Cowley, and
                  Mr. Yap) as liquidators.

U.S. Bankruptcy Judge: Martin Glenn

Foreign
Representatives'
Counsel:          James H. Power, Esq.
                  HOLLAND & KNIGHT, LLP
                  31 West 52nd Street
                  New York, NY 10019
                  Tel: (212) 513-3200
                  Fax: (212) 385-9010
                  E-mail: james.power@hklaw.com

Estimated Assets: $273.1 million

Estimated Debts: $432 million

The foreign representatives did not file a list of the Debtor's
creditors together with the petition.


TRONOX INC: Court OKs Partnership & Stockholder Interests Transfer
------------------------------------------------------------------
The Hon. Allan L. Gropper of the U.S. Bankruptcy Court for the
Southern District of New York approved the stipulation on transfer
of partnership interests in The Landwell Company, L.P., and
stockholder interests in Basic Management, Inc., as contemplated
in Tronox Inc., et al.'s Plan of Reorganization.

The stipulation was entered among the Debtors; the Henderson
Environmental Response Trust; and parties-in-interest, Landwell,
its general partner, Basic Land Company and limited partners, and
BMI and its stockholders.

The stipulation parties consent to the transfer of all of Debtors'
partnership and stockholder interests to the Henderson Trust.
The Henderson Trust will be deemed an assignee of Landwell and a
stockholder of BMI.

The purchase price for the partnership and stockholder
interests will be determined in these manner:

   (a) For a period of 30 days beginning the day following the
       Effective Date of the Plan, the Transfer Parties will
       engage in good faith negotiations to establish the prices
       upon which Landwell/BMI or its partners or stockholders may
       purchase the partnership or stockholder interests.

   (b) For a period commencing immediately upon expiration or
       termination of the Negotiation Period, the Transfer Parties
       will conduct appraisals of the Partnership and Stockholder
       Interests, currently estimated by the Transfer Parties to
       take approximately 90 days but to be completed soon as
       practicable within reasonable commercial standards and not
       to be delayed by any party.

   (c) The cost of appraisals will include all fees incurred by an
       appraiser, including all service fees, costs and
       disbursements.  If the Transfer Parties jointly select one
       independent appraiser, then all Appraisal Costs will be
       borne one-half by the Henderson Trust and one-half by
       Landwell/BMI.

   (d) The Appraisal Period will terminate five business days
       after each of the Transfer Parties receives the final
       appraisal report(s) prepared by the jointly selected
       independent appraiser or panel of three independent
       appraisers, as applicable.  A final appraisal report will
       be a writing evidencing the appraised fair market value of
       each of the Partnership and Stockholder Interests, without
       any pending requests for additional information or other
       items pending further evaluation by the appraiser or
       appraisers.

If the Transfer Parties are unable or unwilling to jointly select
one appraiser and three independent appraisers are appointed, then
each Selected Appraiser will submit to the Transfer Parties its
Final Appraisal Report and these process will commence:

   (i) Partnership Interests.  If the higher of the two
       Partnership Interest appraisal values stated within each
       Selected Appraiser's Final Appraisal Report is no less than
       110% of the lower of the other, then the two will be
       averaged together and the Independent Appraiser will not be
       used.

  (ii) Stockholder Interests. If the higher of the two Stockholder
       Interest appraisal values stated within each Selected
       Appraiser's Final Appraisal Report is no less than 110% of
       the lower of the other, then the two will be averaged
       together and the Independent Appraiser will not be used.

                         About Tronox Inc.

Tronox Inc., aka New-Co Chemical, Inc., and 14 other affiliates
filed for Chapter 11 protection on January 13, 2009 (Bankr.
S.D.N.Y. Case No. 09-10156).  The case is before Hon. Allan L.
Gropper. Richard M. Cieri, Esq., Jonathan S. Henes, Esq., and
Colin M. Adams, Esq., at Kirkland & Ellis LLP in New York,
represent the Debtors.  The Debtors also tapped Togut, Segal &
Segal LLP as conflicts counsel; Rothschild Inc. as investment
bankers; Alvarez & Marsal North America LLC, as restructuring
consultants; and Kurtzman Carson Consultants serves as notice and
claims agent.

An official committee of unsecured creditors and an official
committee of equity security holders have been appointed in the
cases.  The Creditors Committee has retained Paul, Weiss, Rifkind,
Wharton & Garrison LLP as counsel.

Until September 30, 2008, Tronox Inc. was publicly traded on the
New York Stock Exchange under the symbols TRX and TRX.B.  Since
then, Tronox Inc. has traded on the Over the Counter Bulletin
Board under the symbols TROX.A.PK and TROX.B.PK.  As of
December 31, 2008, Tronox Inc. had 19,107,367 outstanding shares
of class A common stock and 22,889,431 outstanding shares of class
B common stock.


TWIN CITY LOFTS: Section 341(a) Meeting Scheduled for Dec. 20
-------------------------------------------------------------
The U.S. Trustee for Region 2 will convene a meeting of Twin City
Lofts, LLC's creditors on December 20, 2010, at 2:00 p.m.  The
meeting will be held at 271 Cadman Plaza East, Room 4529,
Brooklyn, New York.

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

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

Brooklyn, New York-based Twin City Lofts, LLC, filed for Chapter
11 bankruptcy protection on November 11, 2010 (Bankr. E.D. N.Y.
Case No. 10-50625).  David Carlebach, Esq., at Law Offices Of
David Carlebach, assists the Debtor in its restructuring effort.
According to its schedules, the Debtor disclosed $10,000,000 in
total assets and $4,724,562 in total debts.


VAN DYKE: Case Summary & 9 Largest Unsecured Creditors
------------------------------------------------------
Debtor: Van Dyke Crossings, LLC
        218 E. Bearss Ave., Suite 409
        Tampa, FL 33613

Bankruptcy Case No.: 10-27992

Chapter 11 Petition Date: November 19, 2010

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

Debtor's Counsel: Herbert R. Donica, Esq.
                  DONICA LAW FIRM PA
                  106 S Tampania Avenue #250
                  Tampa, FL 33609
                  Tel: (813) 878-9790
                  Fax: (813) 878-9746
                  E-mail: ecf-hrd@donicalaw.com

Scheduled Assets: $2,811,700

Scheduled Debts: $2,432,350

A list of the Company's nine largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flmb10-27992.pdf

The petition was signed by Ronald E. Scaglione, manager.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Southeast Capital, LLC                 10-32028   09/30/10


VERTIS HOLDINGS: Taps Kurtzman Carson as Noticing & Claims Agent
----------------------------------------------------------------
Vertis Holdings, Inc., et al., ask for authorization from the U.S.
Bankruptcy Court for the Southern District of New York to employ
Kurtzman Carson Consultants LLC as noticing and claims agent.

KCC will, among other things:

     (a) prepare and serve required notices in these Chapter 11
         Cases;

     (b) maintain an official copy of the Debtors' schedules of
         assets and liabilities and statement of financial
         affairs, listing the Debtors' known creditors and the
         amounts owed thereto;

     (c) provide access to the public for examination of copies of
         the proofs of claim or proofs of interest filed in the
         Chapter 11 cases without charge during regular business
         hours (if necessary); and

     (d) furnish a notice of the last date for the filing of
         proofs of claim and a form for the filing of a proof of
         claim, after the notice and form are approved by the
         Court.

KCC will be paid based on the rates of its professionals:

         Clerical                                   $40-$60
         Project Specialist                         $80-$140
         Technology/Programming Consultant         $140-$190
         Consultant                                $165-$220
         Senior Consultant                         $225-$275
         Senior Managing Consultant                  $295

A copy of KCC's service agreement with the Debtors is available
for free at http://bankrupt.com/misc/VERTIS_HOLDINGS_kccpact.pdf

Albert Kass, KCC's President of Corporate Restructuring Services,
assures the Court that the firm is a "disinterested person" as
that term defined in Section 101(14) of the Bankruptcy Code.

Baltimore, Maryland-based Vertis Holdings, Inc., filed for Chapter
11 bankruptcy protection on November 17, 2010 (Bankr. S.D.N.Y.
Case No. 10-16170).  Mark McDermott, Esq., at Skadden Arps Slate
Meagher & Flom, LLP, assists the Debtor in its restructuring
effort.  Kurtzman Carson Consultants LLC is the Debtors' claims
and notice agent.  The Debtor estimated its assets and debts at
more than $1 billion.

On November 17, 2010, affiliates American Color Graphics, Inc.
(Bankr. S.D.N.Y. Case No. 10-16169), Vertis Holdings, Inc. (Bankr.
S.D.N.Y. Case No. 10-16170), Vertis, Inc. (Bankr. S.D.N.Y. Case
No. 10-16171), ACG Holdings, Inc. (Bankr. S.D.N.Y. Case No. 10-
16172), Webcraft, LLC (Bankr. S.D.N.Y. Case No. 10-16173), and
Webcraft Chemicals, LLC (Bankr. S.D.N.Y. Case No. 10-16174) filed
separate Chapter 11 petitions.


VERTIS HOLDINGS: Wants Deadline for Filing of Schedules Extended
----------------------------------------------------------------
Vertis Holdings, Inc., et al., ask the U.S. Bankruptcy Court for
the Southern District of New York to extend the deadline for the
filing of schedules of assets and liabilities, schedules of
current income and current expenditures, schedules of executory
contracts and unexpired leases, statements of financial affairs
and lists of equity holders until the third business day after the
December 16 hearing on confirmation of the Debtors' plan of
reorganization.

Due to the complexity of their operations and the voluminous
nature of the information required to be gathered and reviewed,
the Debtors anticipate that they will be unable to complete their
Schedules and Statements by the current deadline imposed by
Bankruptcy Rule 1007.  The Debtors submit that the large amount of
information that must be assembled and compiled, and the many
employee and professional hours required for the completion of the
Schedules and Statements, constitute good and sufficient cause for
granting the extension.  In addition, the initial postpetition
period is a critical time period within which the Debtors must
also devote their time and attention to the stabilization of their
business operations.

Baltimore, Maryland-based Vertis Holdings, Inc., filed for Chapter
11 bankruptcy protection on November 17, 2010 (Bankr. S.D.N.Y.
Case No. 10-16170).  Mark McDermott, Esq., at Skadden Arps Slate
Meagher & Flom, LLP, assists the Debtor in its restructuring
effort.  Kurtzman Carson Consultants LLC is the Debtors' claims
and notice agent.  The Debtor estimated its assets and debts at
more than $1 billion.

On November 17, 2010, affiliates American Color Graphics, Inc.
(Bankr. S.D.N.Y. Case No. 10-16169), Vertis Holdings, Inc. (Bankr.
S.D.N.Y. Case No. 10-16170), Vertis, Inc. (Bankr. S.D.N.Y. Case
No. 10-16171), ACG Holdings, Inc. (Bankr. S.D.N.Y. Case No. 10-
16172), Webcraft, LLC (Bankr. S.D.N.Y. Case No. 10-16173), and
Webcraft Chemicals, LLC (Bankr. S.D.N.Y. Case No. 10-16174) filed
separate Chapter 11 petitions.


VERTIS HOLDINGS: Taps FTI Consulting as Financial Advisor
---------------------------------------------------------
Vertis Holdings, Inc., et al., ask for authorization from the U.S.
Bankruptcy Court for the Southern District of New York to employ
FTI Consulting, Inc., as restructuring and financial advisor, nunc
pro tunc to the Petition Date.

FTI Consulting will, among other things:

     (a) assist the Debtors with information and analyses required
         pursuant to the Debtors' postpetition financing;

     (b) assist with the identification and implementation of
         short-term cash management procedures;

     (c) assist in the preparation of information and analysis
         necessary for the confirmation of a plan of
         reorganization in the Debtors' Chapter 11 cases,
         including information contained in the disclosure
         statement; and

     (d) assist in the preparation of financial information for
         distribution to creditors and others, including, but not
         limited to, cash receipts and disbursement analysis,
         analysis of various asset and liability accounts, and
         analysis of proposed transactions for which this Court's
         approval is sought.

FTI Consulting will be paid based on the rates of its
professionals:

         Senior Managing Director                   $755-$885
         Directors/Managing Directors               $545-$725
         Consultant/Senior Consultants              $270-$515
         Paraprofessionals                        $1,110-$225

In addition to the hourly rates, FTI Consulting's engagement
agreement with the Debtors provides that FTI will have earned a
Performance Fee of $1,250,000 either (i) upon confirmation of a
plan of reorganization through a Chapter 11 bankruptcy proceeding
or (ii) upon an approved sale by the Court of a substantial
portion of the assets of the Debtors.  If neither of these have
occurred by February 1, 2011, then the Performance Fee will be
reduced at the rate of $50,000 per month, but in no event will the
Performance Fee be reduced below $0.

Randall S. Eisenberg, FTI Consulting Senior Managing Director,
assures the Court that the firm is a "disinterested person" as
that term defined in Section 101(14) of the Bankruptcy Code.

Baltimore, Maryland-based Vertis Holdings, Inc., filed for Chapter
11 bankruptcy protection on November 17, 2010 (Bankr. S.D.N.Y.
Case No. 10-16170).  Mark McDermott, Esq., at Skadden Arps Slate
Meagher & Flom, LLP, assists the Debtor in its restructuring
effort.  Kurtzman Carson Consultants LLC is the Debtors' claims
and notice agent.  The Debtor estimated its assets and debts at
more than $1 billion.

On November 17, 2010, affiliates American Color Graphics, Inc.
(Bankr. S.D.N.Y. Case No. 10-16169), Vertis Holdings, Inc. (Bankr.
S.D.N.Y. Case No. 10-16170), Vertis, Inc. (Bankr. S.D.N.Y. Case
No. 10-16171), ACG Holdings, Inc. (Bankr. S.D.N.Y. Case No. 10-
16172), Webcraft, LLC (Bankr. S.D.N.Y. Case No. 10-16173), and
Webcraft Chemicals, LLC (Bankr. S.D.N.Y. Case No. 10-16174) filed
separate Chapter 11 petitions.


VERTIS HOLDINGS: Wants Perella Weinberg as Investment Banker
------------------------------------------------------------
Vertis Holdings, Inc., et al., ask the U.S. Bankruptcy Court for
the Southern District of New York to employ Perella Weinberg
Partners LP as investment banker and financial advisor, nunc pro
tunc to the Petition Date.

Perella Weinberg will, among other things:

     (a) keep up to date with the business, operations,
         properties, financial condition and prospects of the
         Debtors;

     (b) continue to review the financial condition and outlook of
         the Debtors;

     (c) assist in the development of financial data and
         presentations to the Debtors' board of directors, various
         creditors and other parties; and

     (d) analyze the financial liquidity of the Debtors and
         evaluating alternatives.

The Debtors have agreed to this compensation structuring for
Perella Weinberg:

     (a) a monthly investment banking and financial advisory fee
         of $150,000, due and payable in advance on each monthly
         anniversary of the engagement date;

     (b) a transaction fee in the amount of $4,000,000, payable
         promptly upon consummation of a restructuring, provided
         that the Transaction Fee will be reduced by the Monthly
         Fees paid to Perella Weinberg in excess of $600,000; and

     (c) the Debtors will reimburse Perella Weinberg for all
         reasonable out-of-pocket expenses arising in connection
         with the engagement agreement, provided that the Debtors
         will not be obligated to reimburse Perella Weinberg for
         expenses in excess of $250,000 in the aggregate during
         the term of the engagement, without the prior consent of
         the Debtors.

Michael A. Kramer, a partner at Perella Weinberg, assures the
Court that the firm is a "disinterested person" as that term
defined in Section 101(14) of the Bankruptcy Code.

Baltimore, Maryland-based Vertis Holdings, Inc., filed for Chapter
11 bankruptcy protection on November 17, 2010 (Bankr. S.D.N.Y.
Case No. 10-16170).  Mark McDermott, Esq., at Skadden Arps Slate
Meagher & Flom, LLP, assists the Debtor in its restructuring
effort.  Kurtzman Carson Consultants LLC is the Debtors' claims
and notice agent.  The Debtor estimated its assets and debts at
more than $1 billion.

On November 17, 2010, affiliates American Color Graphics, Inc.
(Bankr. S.D.N.Y. Case No. 10-16169), Vertis Holdings, Inc. (Bankr.
S.D.N.Y. Case No. 10-16170), Vertis, Inc. (Bankr. S.D.N.Y. Case
No. 10-16171), ACG Holdings, Inc. (Bankr. S.D.N.Y. Case No. 10-
16172), Webcraft, LLC (Bankr. S.D.N.Y. Case No. 10-16173), and
Webcraft Chemicals, LLC (Bankr. S.D.N.Y. Case No. 10-16174) filed
separate Chapter 11 petitions.


VHGI HOLDINGS: Posts $92,100 Net Loss in September 30 Quarter
-------------------------------------------------------------
VHGI Holdings, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $92,094 on $40,592 of revenue for the
three months ended September 30, 2010, compared with net income of
$43,512 on $154,811 of revenue for the same period of 2009.

The Company has an accumulated deficit of $5.80 million as of
September 30, 2010.

The Company's balance sheet as of September 30, 2010, showed
$3.85 million in total assets, $1.63 million in total liabilities,
and stockholders' equity of $2.22 million.

Pritchett, Siler & Hardy, P.C., in Salt Lake City, expressed
substantial doubt about VHGI Holdings, Inc.'s ability to continue
as a going concern, following the Company's 2009 results.  The
independent auditors noted that the Company has substantial losses
and has a working capital deficit.

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

               http://researcharchives.com/t/s?6f7e

Lexington, Ky.-based VHGI Holdings, Inc. (OTC BB: VHGI)
-- http://www.vhgigold.com/-- is a diverse company with assets
and interests focusing on opportunities within the Precious Metals
markets and Energy markets as well as some Healthcare related
assets.  VHGI Gold LLC, a wholly owned subsidiary of VHGI, has
recently initiated steps to leverage the company's operating
history and corporate resources within the Gold Mining industry
and intends to pursue these opportunities through lease-purchase
opportunities, acquisitions and joint ventures.


VICTOR TIBALDEO: Case Summary & 18 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Victor Tibaldeo, Sr.
        780 NE 69th St #1710
        Miami, FL 33181

Bankruptcy Case No.: 10-45696

Chapter 11 Petition Date: November 21, 2010

Court: United States Bankruptcy Court
       Southern District of Florida (Miami)

Judge: A. Jay Cristol

Debtor's Counsel: Joel M. Aresty, Esq.
                  13499 Biscayne Blvd #T-3
                  North Miami, FL 33181
                  Tel: (305) 899-9876
                  Fax: (305) 723-7893
                  E-mail: aresty@mac.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 18 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flsb10-45696.pdf

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Victor Pianos and Organs, Inc.         10-14721   02/25/10


VILLA DE SANTA: Case Summary & 17 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Villa De Santa Monika, LLC
        1525 Fourth Street, Suite B
        Sarasota, FL 34236

Bankruptcy Case No.: 10-27813

Chapter 11 Petition Date: November 18, 2010

Court: U.S. Bankruptcy Court
       Middle District of Florida (Tampa)

Judge: Caryl E. Delano

Debtor's Counsel: Amy C. Boohaker, Esq.
                  LAW OFFICE OF AMY C. BOOHAKER, PA
                  1800 Second Street, Suite 715
                  Sarasota, FL 34236
                  Tel: (941) 366-9690
                  Fax: (941) 366-9605
                  E-mail: ab@boohakerlaw.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 17 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flmb10-27813.pdf

The petition was signed by Monika Tran-Tomlinson, MGRM.


VITRO SAB: Extends Tender Offer Until December 7
------------------------------------------------
Vitro S.A.B. de C.V. disclosed an extension of the expiration time
for its tender offer and exchange offer and consent solicitation
and responded to misleading statements made by dissident minority
bondholder group.

Vitro extends the expiration time at the request of holders
wishing to participate in the solicitation transactions.

On November 22, 2010, Vitro issued a supplement to its tender
offer and exchange offer and consent solicitation statement dated
November 1, 2010.  This supplement includes certain technical
changes to the procedures described in the offer documents to
facilitate participation in the solicitation transactions and
provides certain updating disclosure.

As described in further detail in the supplement, Vitro is
extending the expiration time at the request of market
participants, in spite of having the required majority to
implement the Concurso Plan, to facilitate participation in the
solicitation transactions.  Vitro has been receiving numerous
procedural questions regarding the solicitation transactions and
has been working, and will continue to work, diligently to answer
any questions of bondholders to ensure their participation in such
transactions.

Both offers were previously scheduled to expire at 9:00 a.m., New
York City time, on December 1, 2010. Vitro is extending the
expiration time for both offers to 5:00 p.m., New York City time,
on December 7, 2010. Following the expiration time, Vitro plans to
initiate promptly the previously announced pre-packed insolvency
process in Mexico.

Both offers apply to all three series of Vitro's outstanding
senior notes, which are described in the following table:


Series of Senior Notes       CUSIP No.            Outstanding
                                                  Principal
                                                  Amount
8.625% Senior Notes due 2012 92851RAC1; P98100AA1 $300,000,000
11.75% Senior Notes due 2013 92851FAD5; P98022AB5 $216,000,000
9.125% Senior Notes due 2017 92851RAD9; P98100AB9 $700,000,000



Vitro is also changing the definition of the term "Record Date" in
the offer documentation to 5:00 p.m., New York City time, on
November 30, 2010.  This change was also requested by holders who
purchased senior notes after November 1, 2010 and who wish to
participate in the solicitation transactions.

Vitro responds to misleading statements of minority dissident
bondholders clearly aimed at disrupting Vitro's restructuring
process

On November 17, 2010, a minority group of four bondholders
representing approximately US$75 million, or approximately 6% of
the outstanding bond debt to be restructured, commenced
involuntary cases under Chapter 11 of the U.S. Bankruptcy Code in
the Northern District of Texas against Vitro's U.S. subsidiaries
which are guarantors of the bond debt.

The bankruptcy petition was signed only by these four bondholders.
No other bondholders have stepped forward to initiate litigation
against Vitro notwithstanding the unsubstantiated statements made
by the advisors to these dissident bondholders in an effort to
influence creditor participation and manipulate the market in
Vitro's securities.  In view of these and other irregularities,
Vitro has engaged the law firm of Susman Godfrey, L.L.P. as
special litigation US Counsel, in order to analyze the potential
rights that Vitro may exercise in the United States against this
ad hoc group of dissident bondholders and its advisors.

The allegations regarding the transactions and the disclosure
provided in Vitro's offer documents are baseless

Vitro's exchange offer and consent solicitation, including the
restructuring plan pursuant to the Mexican insolvency law, has
been structured, prepared and negotiated, at arms length, with the
advice and approval of some of the leading insolvency law
practitioners in Mexico.  Accordingly, Vitro is confident that any
challenges that may be brought against its restructuring plan
based on these minority bondholders' baseless allegations will not
succeed.

Bondholders who consent pursuant to the offer documents will not
in fact be subject to adverse consequences that have not been
disclosed by Vitro.  The ad hoc bondholder group has clearly not
carefully reviewed the disclosure as thoroughly as they claim.  In
the event that Vitro waives the conditions of the exchange offer
and consent solicitation or otherwise amends the exchange offer
and consent solicitation in a manner that is materially adverse to
holders of the debt subject to restructuring, noteholders will be
informed and allowed to withdraw their consent, as described in
greater detail in the offer documents.

Actions by dissident holders will not change proposal; Vitro
expects success

As described in the offer documentation, Vitro engaged in active,
good faith negotiations with a group of institutional bondholders
for over a year and a half (including paying more than US$4.3
million in fees and expenses of such group's legal and financial
advisors).  After more than year of negotiations with this group
of bondholders, the Company in October of this year presented its
final restructuring proposal to the group indicating that if it
was not accepted by the group it would go to the market without
the support of the group.  At the time, the differences between
Vitro's offer and the Bondholder's ad hoc Committee request was
only marginal.

The restructuring proposal reflected in the offer documentation
represents Vitro's final restructuring proposal.  Vitro will not
engage in any further negotiations with the dissent, minority
bondholder group who have initiated legal actions against Vitro's
U.S. subsidiaries, or to otherwise improve the terms of its
proposed restructuring reflected in the offer documentation.  As
described in the offer documentation, Vitro fully intends to file
its Concurso Plan for approval in Mexico shortly after the
expiration of the solicitation transactions.

The public statements made by the dissent bondholder group
alleging that bondholders who choose to participate in Vitro's
outstanding restructuring offer will be worse off than those who
do not participate are blatantly misleading and false and contrary
to the express terms of the restructuring offer described in the
offer documentation.  As described in the offer documentation,
bondholders who do not participate in the Company's restructuring
offer and consent to the Concurso Plan on or prior to the
expiration date of the offer will give up a substantial upfront
cash consent fee, currently offered to all creditors, of no less
than 5% and no more than 10% of the principal amount of bonds they
hold (which will be payable shortly after the expiration of the
restructuring offer and regardless of whether the Concurso Plan is
ultimately approved or not).

Bondholders who do not participate in the restructuring offer will
nonetheless receive the same pro rata portion of the Restructuring
Consideration described in the offer documentation upon approval
of the Company Concurso Plan, but they will not receive the
upfront cash consent fee previously described.

The dissident minority's group's public (and misguided)
allegations of legal impropriety relating to certain transactions
entered into by the Company with respect to the settlement of
certain financial derivative claims, certain intercompany claims
and the consent fee described in the solicitation statement (and
referenced above) amount to nothing but baseless allegations.  All
of the Company's transactions relating to the settlement of
certain financial derivative claims and the intercompany claims
that will be participating in the Company's Concurso Plan were
reviewed and approved by some of the leading corporate and
insolvency law practitioners in Mexico and implemented in
accordance with applicable Mexican law.  Accordingly, the Company
is fully confident that the spurious challenges that may be
brought in respect of these transactions will be discredited and
set aside by the relevant Mexican court.

Despite the desperate attempts by dissident holders to disrupt the
process, Vitro continues to expect that both offers will be
concluded successfully.  "Due to a clear reflection of a divided
ad doc Bondholder Committee, Vitro strongly encourages its
bondholders to objectively analyze the terms and conditions of the
tender offer, and the exchange offer and consent solicitation,"
stated Mr. Claudio Del Valle, Chief Restructuring Officer of
Vitro, "and we also urge each of them to respond to the tender
offer and the exchange offer and consent solicitation promptly."

Further information related to tender offer and exchange offer and
consent solicitation procedures

D.F. King & Co., Inc. will act as the depositary for the tender
offer and information and exchange agent for the exchange offer
and consent solicitation for holders of senior notes.  Questions
regarding the tender offer and exchange offer and consent
solicitation and requests for additional copies of the tender
offer and exchange offer and consent solicitation materials may be
directed to D.F. King & Co., Inc. at (800) 431-9633 (toll free) or
(212) 269-5550 (bankers and brokers).  Holders of restructured
debt other than the senior notes may contact Vitro at +52 (81)
8863-1731.

                         About Vitro SAB

Headquartered in Monterrey, Mexico, Vitro, S.A.B. de C.V. (BMV:
VITROA; NYSE: VTO), through its two subsidiaries, Vitro Envases
Norteamerica, SA de C.V. and Vimexico, S.A. de C.V., is a global
glass producer, serving the construction and automotive glass
markets and glass containers needs of the food, beverage, wine,
liquor, cosmetics and pharmaceutical industries.

Knighthead Master Fund, L.P., Lord Abbett Bond-Debenture Fund,
Inc., Davidson Kempner Distressed Opportunities Fund LP, and
Brookville Horizons Fund, L.P., commenced involuntary bankruptcy
cases under Chapter 11 of the U.S. Bankruptcy Code against Vitro
Asset Corp. -- aka American Asset Holding Corp., Imperial Arts
Corp., VK Corp., and Oriental Glass, Inc. -- on November 17, 2010
(Bankr. N.D. Tex. Case No. 10-47470).

Affiliates Vitro Chemicals, Fibers & Mining, LLC (Bankr. N.D. Tex.
Case No. 10-47472); Vitro America, LLC (Bankr. N.D. Tex. Case No.
10-47473); Troper Services, Inc. (Bankr. N.D. Tex. Case No. 10-
47474); Super Sky Products, Inc. (Bankr. N.D. Tex. Case No. 10-
47475); Super Sky International, Inc. (Bankr. N.D. Tex. Case No.
10-47476); VVP Holdings, LLC (Bankr. N.D. Tex. Case No. 10-47477);
Amsilco Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47478);
B.B.O. Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47479);
Binswanger Glass Company (Bankr. N.D. Tex. Case No. 10-47480);
Crisa Corporation (Bankr. N.D. Tex. Case No. 10-47481); VVP
Finance Corporation (Bankr. N.D. Tex. Case No. 10-47482); VVP Auto
Glass, Inc. (Bankr. N.D. Tex. Case No. 10-47483); V-MX Holdings,
LLC (Bankr. N.D. Tex. Case No. 10-47484); and Vitro Packaging, LLC
(Bankr. N.D. Tex. Case No. 10-47485) are also subject to
involuntary petitions by the petitioning creditors.


WASHINGTON LOOP: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Washington Loop, LLC
        37894 Washington Loop Road
        Punta Gorda, FL 33055

Bankruptcy Case No.: 10-27981

Chapter 11 Petition Date: November 19, 2010

Court: U.S. Bankruptcy Court
       Middle District of Florida (Tampa)

Debtor's Counsel: Lynn V. H. Ramey, Esq.
                  THE LAW OFFICES OF LYNN RAMEY
                  P.O. Box 2163
                  Tampa, FL 33611
                  Tel: (813) 787-3467
                  E-mail: lynn@lynnrameylaw.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flmb10-27981.pdf

The petition was signed by Lovina Lehr, managing member.


WASHINGTON MUTUAL: Noteholders Lodge Contingent Objection to Plan
-----------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist at Bloomberg News, reports
that Washington Mutual Inc. senior noteholders filed a "limited
objection" to the reorganization plan that comes up for approval
at a confirmation hearing on Dec. 1 through Dec. 3.

According to Mr. Rochelle, the noteholders admit their objection
will be moot if, as they hope, the plan ends up paying them in
full, with interest.  Their objection relates to what they
described as the "debtor's flawed waterfall distribution scheme."

The examiner for WaMu concluded in his Nov. 1 report that the plan
and its proposed settlement with the Federal Deposit Insurance
Corp. and JPMorgan Chase & Co. "reasonably resolves contentious
issues."  WaMu's revised plan will distribute over $7 billion to
creditors.

                      About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.

Washington Mutual Bank was taken over on Sept. 25, 2008, by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  WaMu owns
100% of the equity in WMI Investment.  When WaMu filed for
protection from its creditors, it disclosed assets of
$32,896,605,516 and debts of $8,167,022,695.  WMI Investment
estimated assets of $500,000,000 to $1,000,000,000 with zero
debts.

WaMu is represented by Brian Rosen, Esq., at Weil, Gotshal &
Manges LLP in New York City; Mark D. Collins, Esq., at Richards,
Layton & Finger P.A. in Wilmington, Del.; and Peter Calamari,
Esq., and David Elsberg, Esq., at Quinn Emanuel Urquhart Oliver &
Hedges, LLP.  Fred S. Hodera, Esq., at Akin Gump Strauss Hauer &
Fled LLP in New York City and David B. Stratton, Esq., at Pepper
Hamilton LLP in Wilmington, Del., represent the Official Committee
of Unseucred Creditors.  Stephen D. Susman, Esq., at Susman
Godfrey LLP and William P. Bowden, Esq., at Ashby & Geddes, P.A.,
represent the Equity Committee.  Stacey R. Friedman, Esq., at
Sullivan & Cromwell LLP and Adam G. Landis, Esq., at Landis Rath &
Cobb LLP in Wilmington, Del., represent JP Morgan Chase, which
acquired WaMu's assets prior to the Petition Date


WEGENER CORPORATION: Recurring Losses Cue Going Concern Doubt
-------------------------------------------------------------
Wegener Corporation filed on November 15, 2010, its annual report
on Form 10-K for the fiscal year ended September 3, 2010.

Habif, Arogeti & Wynne, LLP, in Atlanta, Ga., expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that the Company
has suffered recurring losses from operations and has a capital
deficiency.

The Company reported a net loss of $2.31 million on $8.92 million
of revenue for the fiscal year ended September 3, 2010, compared
with a net loss of $2.60 million on $12.66 million of revenue for
the fiscal year ended August 28, 2009.

The Company's balance sheet as of September 3, 2010, showed
$8.36 million in total assets, $8.49 million in total
liabilities, and a stockholders' deficit of $131,688.

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

               http://researcharchives.com/t/s?6f69

Johns Creek, Ga.-based Wegener Corporation
-- http://www.wegener.com/-- was formed in 1977 and is a Delaware
corporation.  The Company conducts its continuing business through
Wegener Communications, Inc. (WCI), a wholly-owned subsidiary.
WCI, a Georgia corporation, is an international provider of
digital video and audio solutions for broadcast television, radio,
telco, private and cable networks.


WIRELESS AGE: Settles Debt; Nears Completion of Restructuring
-------------------------------------------------------------
Wireless Age Communications, Inc. is nearing the completion of
restructuring activities and would like to update shareholders on
the company's progress.  Wireless Age also would like to make the
disclosure that Chairman, President and CEO, John Simmonds, will
undergo open-heart surgery within the coming weeks, with his
expected recovery over the holidays.

Over the past year, Wireless Age has undergone significant
restructuring including an agreement to settle debt between the
company and subsidiaries, with the last installment of $600,000
potentially to be paid before year-end, which is in addition to
the $150,000 already paid to the receiver, for total settlement of
$750,000 for all outstanding debt, which previously totaled CAD
$8.4 million.

Chairman, President and CEO, John Simmonds stated, "The settlement
of this debt is instrumental to Wireless Age's restructuring as it
will clean up the balance sheet, and is intended to be done in
conjunction with the submission of audited financial statements of
fiscal years 2008, 2009 and 2010 (submittal early 2011), allowing
the company to qualify to list on the OTC Bulletin Board as a SEC
fully reporting company."  The company stated it intends to
complete these actions along with a suitable name change of all
appropriate businesses to provide a united front.

The company has successfully changed business direction with the
acquisition of 70% of Sunbay Energy, a waste-to-energy company
with advanced stage projects in Ontario and Quebec.  Albert Pope
was appointed CEO of Sunbay Energy by Wireless Age's board of
Directors.  Mr. Pope has over thirty years of experience in
international corporate finance and business management.  He began
his business career on Wall Street where he held senior positions
at the Deltec Securities unit of Deltec Banking, and J.P. Morgan,
where he was the officer responsible for Latin America within the
Corporate Finance Division.  Mr. Pope also served as President of
Montenay Energy, the U.S. subsidiary of Montenay, S.A., a leading
French company in energy and waste management.

Albert Pope, CEO of Sunbay Energy stated, "We look forward to
advancing our current projects in Quebec and Ontario in the same
manner in which we have since acquisition; by unlocking immediate
acreative value for shareholders, through value conscious
strategies, such as acquiring large parcels of land at little or
no cost to the company, and developing vertical and horizontal
synergies in the EPC and fabrication industries."  "Many
municipalities are recognizing Municipal solid waste (MSW) can be
part of a solution, whereas before, MSW was considered a problem.
North America is many years behind most of Europe and other parts
of the world in terms of waste disposal solutions-which provides a
unique and lucrative opportunity for a first mover to create
modular solutions with a proven technology such as Sunbay."

In recent weeks, Wireless Age has also recently entered into a
credit agreement with EnWise Power Solutions Inc. in which
Wireless Age provided EnWise $50,000, allowing Wireless Age the
option to convert the $50,000 secured note into a 60% ownership in
EnWise Power Solutions Inc., upon approval from Ontario's
Bankruptcy Insolvency Act Trustee.

Founded in 2006, the EnWise group of companies was developed with
a commitment to building a culture of energy conservation by
providing straightforward and affordable ways for homeowners to
protect the environment, lower energy bills and improve the
overall comfort of their homes. John G. Simmonds, Chairman,
President & CEO, Wireless Age, stated, "It is our intention to
provide EnWise with the resources to expand its business
throughout Canada, and eventually the United States. EnWise also
provides us with a developed brand and proven platform to expand
our institutional energy solutions business in Canada, the USA,
and then overseas."  Peter Hwang, CEO, EnWise Power Solutions
Inc., has over 12 years experience in asset backed finance, and
was co-founder and Vice-President of Easy Lease Corp., a
successfully asset backed financing and syndication company. Peter
is also the founder of EnWise Power Solutions Inc.

With the following acquisition, and pending acquisition, Wireless
Age has positioned itself as a growing leader in clean-tech, with
a portfolio of companies with large potential upside and limited
downside for shareholder returns due to the attractive relative
value they were acquired for or proposed to be acquired for, in
the eyes of management.  John G. Simmonds, Chairman, President &
CEO of Wireless Age stated, "2011 is shaping up to become one of
the most exciting years for the company as deals close and the
business plan is executed.  Notwithstanding additional potential
complimentary and value conscious acquisitions for the portfolio,
the company has a great deal of work ahead, but with the team we
have assembled I trust we can execute accordingly and be
successful."

                        About Wireless Age

Headquartered in Mississauga, Ontario, Canada, Wireless Age
Communications Inc. (OTC BB: WLSA.OB) --
http://www.thewirelessage.com/-- through its 99.7% owned
subsidiary, Wireless Age Communications Ltd., is in the business
of operating retail cellular and telecommunications outlets in
cities in western Canada.  The Company, through its other wholly
owned subsidiary Wireless Source Distribution Ltd., is in the
business of distributing two-way radio products, prepaid phone
cards, wireless accessories and various battery and ancillary
electronics products in Canada.

                         *     *     *

As reported by the Troubled Company Reporter on April 29, 2009,
the receiver for Wireless Age signed a deal to sell the assets in
Manitoba and Saskatchewan.  The Saskatchewan assets of Wireless
Communications and the assets of Wireless Source will be sold to
IM Wireless Ltd. for C$7 million.  Wireless Communications'
Manitoba assets would be sold to MTS Allstream Inc. and 4L
Communications Inc. for C$115,000.

SaskTel served Wireless Communications and Wireless Source with
notice under the Bankruptcy and Insolvency Act in January 2009 and
secured a court order to appoint an interim receiver.

The receiver expected C$7.65 million to be available after closing
with C$1.25 million available for unsecured creditors, before the
receiver's fees and after repayment of C$6.4 million to SaskTel.


WISE METALS: Deposits $158-Mil. in Trust with BoNY Mellon
---------------------------------------------------------
On November 16, 2010, Wise Metals Group LLC and Wise Alloys
Finance Corporation irrevocably deposited $158,988,502 to be held
in trust with the Bank of New York Mellon, as trustee under the
Indenture dated as of May 5, 2004, by and among the Company, the
Guarantors party thereto and the Bank of New York Mellon, an
amount sufficient to pay and discharge the entire indebtedness on
the Notes and all other amounts payable under the Indenture.

The funds will be used to pay the interest payment that was due on
November 15, 2010 plus additional interest payable on such
interest payment to holders of the Notes, who hold them of record
on December 1, 2010.  The payment will be made on December 10,
2010.  The remaining funds will be used to pay principal of the
Notes plus accrued interest from November 15, 2010 to the
redemption date of December 15, 2010.

                        About Wise Metals

Based in Baltimore, Md., Wise Metals Group LLC includes Wise
Alloys, the world's third-leading producer of aluminum can stock
for the beverage and food industries; Wise Recycling, one of the
largest, direct-from-the-public collectors of aluminum beverage
containers in the United States; Listerhill Total Maintenance
Center, specializing in providing maintenance, repairs and
fabrication to manufacturing and industrial plants worldwide;
Alabama Electric Motor Service specializing in electric motor and
pump service, repair and replacement; and Alabama Spares And Parts
providing on-site spare part inventory management and procurement
services.

The Company's balance sheet at June 30, 2010, revealed
$534.25 million in total assets, $658.57 million in total current
liabilities, $171.04 million in total non-current liabilities, and
a $392.27 million members' deficit.


WOUND MANAGEMENT: Posts $1.7 Million Net Loss in Q3 2010
--------------------------------------------------------
Wound Management Technologies, Inc., filed its quarterly report on
Form 10-Q, reporting a net loss of $1.69 million on $111,652 of
revenue for the three months ended September 30, 2010, compared
with a net loss of $258,844 on $102,926 of revenue for the same
period of 2009.

"Historically, we have financed our operations primarily from the
sale of debt and equity securities," the Company said in the
filing.

Financing activities generated $1.91 million for the nine months
ended September 30, 2010, and $805,559 for the nine months ended
September 30, 2009.

The Company's balance sheet at September 30, 2010, showed
$7.04 million in total assets, $4.75 million in total liabilities,
and stockholders' equity of $2.29 million.

Pritchett, Siler & Hardy, P.C., in Salt Lake City, expressed
substantial doubt aobut the Company's ability to continue as a
going concern, following the Company's 2009 results.  The
independent auditors noted that the Company has incurred
substantial losses and has a working capital deficit.

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

               http://researcharchives.com/t/s?6f68

                      About Wound Management

Fort Worth, Tex.-based Wound Management Technologies, Inc.,
through its subsidiary, Wound Care Innovations, LLC, distributes
collagen-based wound care products in the United States.


* 860 Banks Now in FDIC's Problem List; Highest Since 1993
----------------------------------------------------------
The Federal Deposit Insurance Corporation said in is latest
quarterly banking profile that the number of institutions on its
"Problem List" rose to 860 as of Sept. 30, 2010 from 829 at June
30, 2010.  There were 775 banks on the list at the end of the
first quarter.

The FDIC, however, pointed out that the total assets of "problem"
institutions declined from $403 billion to $379 billion.  The
number of "problem" institutions is the highest since March 31,
1993, when there were 928.  Forty-one insured institutions failed
during the third quarter, bringing the total number of failures
for the first three quarters of the year to 127.

The number of insured commercial banks and savings institutions
reporting quarterly financial results fell from 7,830 in the
second quarter to 7,760 in the third quarter.  Five new reporting
institutions were added during the quarter, while 30 institutions
were absorbed into other charters through mergers.

The FDIC noted that the number of employees (full-time equivalent)
increased for a second consecutive quarter, after falling in each
of the previous 12 quarters.  The 0.4% (8,195) increase lifted the
industry's total employment to 2.04 million, which is still 8.2%
below the peak of 2.22 million reported in first quarter 2007.

The Deposit Insurance Fund (DIF) balance improved for the third
consecutive quarter.  The DIF balance -- the net worth of the fund
-- improved from negative $15.2 billion to negative $8 billion
during the third quarter.  The improvement stemmed primarily from
assessment revenues and from a reduction in the contingent loss
reserve.  This reserve, which covers the costs of expected
failures, declined from $27.5 billion to $21.3 billion during the
quarter.  While part of the decline reflects the removal of
amounts reserved for banks that failed, part also reflects lower
costs for future failures.

The FDIC added that its liquid resources -- cash and marketable
securities -- remained strong.  Liquid resources stood at
$43.7 billion at the end of the third quarter, essentially
unchanged from the second quarter.

"While we expect demands on cash to continue," Chairman Bair said,
"our projections indicate that our current resources are more than
enough to resolve anticipated failures and meet outstanding
obligations for banks that have already failed."

Total insured deposits declined by 0.3% ($15 billion) during the
quarter.

Chairman Bair said, "The industry has come a long way in cleaning
up balance sheets, building capital, and adjusting to changes in
financial markets and the economy.  But the adjustments are not
over, and this is no time for complacency."

                       Profit Improvements

Commercial banks and savings institutions insured by the FDIC
reported an aggregate profit of $14.5 billion in the third quarter
of 2010, a $12.5 billion improvement from the $2 billion the
industry earned in the third quarter of 2009.  This is the fifth
consecutive quarter that earnings have registered a year-over-year
increase.

"The industry continues making progress in recovering from the
financial crisis. Credit performance has been improving, and we
remain cautiously optimistic about the outlook," said FDIC
Chairman Sheila C. Bair.  "Lower provisions for loan losses are
driving bank earnings by allowing a larger share of revenues to
reach the bottom line."

But Chairman Bair also said, "At this point in the credit cycle it
is too early for institutions to be reducing reserves without
strong evidence of sustainable, improving loan performance and
reduced loss rates. When it comes to the adequacy of reserves,
institutions should always err on the side of caution."

                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 Sept. 30, 2010, is available for free at:

    http://bankrupt.com/misc/FDIC_QBP_Q3_10.pdf

                         Bank Failures

U.S. bank failures this year have reached 149 as of November 19.
The number of bank failures in 2010 have eclipsed the total bank
failures seen last year.  In all of 2009, 140 banks failed.

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)
   -----------       ----------   --------------      -----------
Gulf State Community    $112.1    Centennial Bank          $42.7
First Banking Center    $750.7    First Michigan Bank     $142.6
Allegiance Bank         $106.6    VIST Bank                $14.2

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


* Ex-Oppenheimer Analyst Says U.S. Banks to Close 5,000 Branches
----------------------------------------------------------------
Bloomberg News' Michael J. Moore and Yalman Onaran report that
Meredith Whitney, a former Oppenheimer & Co. analyst who now runs
her own firm, said U.S. banks will close 5,000 branches in the
next 18 months.  Ms. Whitney, citing data from the Federal Deposit
Insurance Corp., said bank branches in the U.S. fell by 1,035, or
1%, over the 12 months ended June 30.  She said banks may cut
10,000 branches by 2015.

According to Bloomberg, Ms. Whitney, 41, said in a report dated
November 18 that banks face an "uphill battle" in generating loan
growth as consumers reduce debt and will receive less revenue from
fees because of new regulations and the lack of a securitization
market.

As reported by the Troubled Company Reporter on November 22, 2010,
U.S. bank failures this year rose to 149 after financial
institutions in Florida, Wisconsin and Pennsylvania were shut by
regulators on Friday.  The three lenders closed November 19 had
combined assets of $969.4 million.  The seizures cost the Federal
Deposit Insurance Corp.'s deposit-insurance fund $199.5 million.

The number of bank failures in 2010 has eclipsed the total bank
failures seen last year.  In all of 2009, 140 banks failed.

The FDIC was appointed as receiver for the closed banks.

The FDIC 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.


* Trading of U.S. Bankruptcy Claims Slumps in October
-----------------------------------------------------
American Bankruptcy Institute reports that the value of U.S.
bankruptcy claims traded in October slumped to the lowest level
since February due to a slowdown in the most active case, Lehman
Brothers Holding Inc.


* Several Charged in Canada for Bankruptcy Fraud
------------------------------------------------
The Royal Canadian Mounted Police - Greater Toronto Area
Commercial Crime Section in partnership with the Toronto Office of
the Superintendent of Bankruptcy, charged four individuals with
offences under the Bankruptcy and Insolvency Act and the Criminal
Code.  The allegations all relate to fraud and the abuse of the
Bankruptcy process and are four separate investigations.
Selvachandran NADARAJAH, 45 years of age, of Farmsted Road,
Toronto, Ontario was charged on November 2nd, 2010 and is
scheduled to appear in court on Friday December 3rd, 2010 at Old
City Hall Courthouse in Toronto.  He is facing one Criminal Code
charge and ten charges under the Bankruptcy and Insolvency Act.

Zia ALI, 52 years of age, of Brandon Gate drive, Mississauga,
Ontario was charged on October 28th, 2010 and is scheduled to
appear in court on November 26, 2010 at Old City Hall Courthouse
in Toronto.  He is facing six Criminal Code charges and seven
charges under the Bankruptcy and Insolvency Act.

Muthukumari VELAUTHAM, 49 years of age, of Finch Avenue East,
Toronto, Ontario was charged on October 28th, 2010 and is
scheduled to appear in court on November 26th, 2010 at Old City
Hall Courthouse in Toronto.  She is facing One Bankruptcy and
Insolvency Act charge.

Saravanabavasarma KIRUBAHARAN, 47 years of age, of Four Winds
Drive, North York, Ontario was charged on October 20th, 2010 and
appeared in court on November 19th, 2010 at Old City Hall
Courthouse in Toronto.  He is facing sixteen Criminal Code charges
and twelve charges under the Bankruptcy and Insolvency Act.

With the ongoing co-operation between the RCMP and the Office of
the Superintendent of Bankruptcy (OSB) we continue to investigate
allegations of breaches of the Bankruptcy and Insolvency Act and
the Criminal Code as they pertain to the Canadian Insolvency
process.  The RCMP will enforce the provisions of the Criminal
Code when appropriate and this partnership will continue to focus
its efforts on undertaking criminal investigations where evidence
of wrong doing exists.  The objective is to maintain confidence in
the integrity of the Bankruptcy/Insolvency Process and the
economic stability of Canada.

The successful partnership between the OSB and RCMP is working
diligently together investigating and responding to these
allegations of fraudulent bankruptcies and systemic abuse of the
bankruptcy process.  The RCMP GTA Commercial Crime Section central
intake can be reached at 1-800-461-9398.


* Thompson Hine Restructuring Group Taps John Isbell
----------------------------------------------------
John F. Isbell has joined the law firm Thompson Hine LLP as a
partner in the Business Restructuring, Creditors' Rights &
Bankruptcy practice group.

Isbell focuses his practice on the representation of secured
lenders and debtors/borrowers in bankruptcy cases, receivership
litigation, workouts, restructurings and state court foreclosures
and confirmation proceedings.  He also represents clients in
insolvency-related litigation in federal and state courts. Isbell
received his J.D., summa cum laude, from the University of Alabama
and his B.A. from the University of the South.  He is a member of
the State Bar of Georgia, the Alabama State Bar, the American Bar
Association, the American Bankruptcy Institute and the Atlanta Bar
Association.

On joining the firm, Isbell says, "Thompson Hine's commitment to
client service excellence really distinguishes them from other
firms.  I am pleased to join both the Atlanta office and the
Business Restructuring group, and look forward to serving our
clients."

Alan Lepene, who leads the firm's Business Restructuring group,
adds, "We are very pleased to have John join our group.  His
experience and background in representation of all facets of
workouts and related matters will be a great benefit to many of
our clients."

"We welcome John to our office," says Walt Linscott, partner-in-
charge of the Atlanta office.  "As we follow our continued growth
path, adding lawyers with the knowledge and drive that John brings
to the table really serves to strengthen both our office and our
firm."

                        About Thompson Hine LLP

Established in 1911, Thompson Hine -- http://
www.ThompsonHine.com/ -- is a business law firm dedicated to
providing superior client service.  The firm has been recognized
as one of the Best Corporate Law Firms in America (in an annual
survey of corporate directors conducted by Corporate Board Member
magazine).  With approximately 400 lawyers, Thompson Hine serves
premier businesses worldwide.  The firm has offices in Atlanta,
Cincinnati, Cleveland, Columbus, Dayton, New York and Washington,
D.C.


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------

Nov. 29, 2010
  RENAISSANCE AMERICAN MANAGEMENT, INC. & BEARD GROUP, INC.
     17th Annual Distressed Investing Conference
        The Helmsley Park Lane Hotel, New York City
           Contact: 1-903-595-3800;
                    http://www.renaissanceamerican.com/

Dec. 9-11, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Winter Leadership Conference
        Camelback Inn, a JW Marriott Resort & Spa,
        Scottsdale, Ariz.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Dec. 2-4, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     22nd Annual Winter Leadership Conference
        Camelback Inn, Scottsdale, Arizona
           Contact: 1-703-739-0800; http://www.abiworld.org/

January 26-28, 2011
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Distressed Investing Conference
        Aria Las Vegas
           Contact: http://www.turnaround.org/

Jan. 27-28, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Rocky Mountain Bankruptcy Conference
        Westin Tabor Center, Denver, Colo.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Feb. 3-5, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Caribbean Insolvency Symposium
        Westin Casuarina Resort & Spa, Grand Cayman Island
           Contact: 1-703-739-0800; http://www.abiworld.org/

Feb. 24-25, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Valcon
        Four Seasons Las Vegas, Las Vegas, Nev.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 4, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Bankruptcy Battleground West
        Hyatt Regency Century Plaza, Los Angeles, Calif.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 7-9, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Conrad Duberstein Moot Court Competition
        Duberstein U.S. Courthouse, New York, N.Y.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 10, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Nuts and Bolts - Florida
        Tampa, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 10-12, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     SUCL/ Alexander L. Paskay Seminar on
     Bankruptcy Law and Practice
        Marriott Tampa Waterside, Tampa, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 17-19, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Byrne Judicial Clerkship Institute
        Pepperdine University School of Law, Malibu, Calif.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 31-Apr. 3, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Annual Spring Meeting
        Gaylord National Resort & Convention Center,
        National Harbor, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

April 27-29, 2011
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Spring Conference
        JW Marriott, Chicago, IL
           Contact: http://www.turnaround.org/

May 5, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Nuts and Bolts - New York City
        Association of the Bar of the City of New York,
        New York, N.Y.
           Contact: 1-703-739-0800; http://www.abiworld.org/

May 6, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     New York City Bankruptcy Conference
        Hilton New York, New York, N.Y.
           Contact: 1-703-739-0800; http://www.abiworld.org/

June 6, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Canadian-American Cross-Border Insolvency Symposium
        Fairmont Royal York, Toronto, Ont.
           Contact: 1-703-739-0800; http://www.abiworld.org/

June 9-12, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Central States Bankruptcy Workshop
        Grand Traverse Resort and Spa, Traverse City, Mich.
              Contact: http://www.abiworld.org/

July 21-24, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Northeast Bankruptcy Conference
        Hyatt Regency Newport, Newport, R.I.
           Contact: 1-703-739-0800; http://www.abiworld.org/

July 27-30, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Southeast Bankruptcy Workshop
        The Sanctuary at Kiawah Island, Kiawah Island, S.C.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Aug. 4-6, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Mid-Atlantic Bankruptcy Workshop
        Hotel Hershey, Hershey, Pa.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 14, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     NCBJ/ABI Educational Program
        Tampa Convention Center, Tampa, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. __, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     International Insolvency Symposium
        Dublin, Ireland
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 25-27, 2011
  TURNAROUND MANAGEMENT ASSOCIATION
     Hilton San Diego Bayfront, San Diego, CA
        Contact: http://www.turnaround.org/

Dec. 1-3, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     23rd Annual Winter Leadership Conference
        La Quinta Resort & Spa, La Quinta, Calif.
           Contact: 1-703-739-0800; http://www.abiworld.org/

April 3-5, 2012
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Spring Conference
        Grand Hyatt Atlanta, Atlanta, Ga.
           Contact: http://www.turnaround.org/

Apr. 19-22, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Annual Spring Meeting
        Gaylord National Resort & Convention Center,
        National Harbor, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

July 14-17, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Southeast Bankruptcy Workshop
        The Ritz-Carlton Amelia Island, Amelia Island, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Aug. 2-4, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Mid-Atlantic Bankruptcy Workshop
        Hyatt Regency Chesapeake Bay, Cambridge, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

November 1-3, 2012
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Westin Copley Place, Boston, Mass.
           Contact: http://www.turnaround.org/

Nov. 29 - Dec. 2, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Winter Leadership Conference
        JW Marriott Starr Pass Resort & Spa, Tucson, Ariz.
           Contact: 1-703-739-0800; http://www.abiworld.org/

April 10-12, 2013
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Spring Conference
        JW Marriott Chicago, Chicago, Ill.
           Contact: http://www.turnaround.org/

October 3-5, 2013
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Marriott Wardman Park, Washington, D.C.
           Contact: http://www.turnaround.org/

The Meetings, Conferences and Seminars column appears in the
Troubled Company Reporter each Wednesday.  Submissions via
e-mail to conferences@bankrupt.com are encouraged.

Last Updated: November 14, 2010

                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Howard
C. Tolentino, Joseph Medel C. Martirez, Denise Marie Varquez,
Philline Reluya, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2010.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


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