TCR_Public/101230.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Thursday, December 30, 2010, Vol. 14, No. 360

                            Headlines

1009 BH: Case Summary & 13 Largest Unsecured Creditors
ABITIBIBOWATER INC: 8 Directors Do Not Own Any Securities
ABITIBIBOWATER INC: Avenue Capital Discloses 5.1% Equity Stake
ALAN HOWARD: Case Summary & 20 Largest Unsecured Creditors
ALL AMERICAN: Assures Approval of Plan Merger

AMBAC FINANCIAL: Committee Has Information Sharing Protocol
AMBAC FINANCIAL: Gets OK to Pay Employee & Tax Obligations
AMBAC FINANCIAL: Settles Securities Class Actions for $27.1 Mil.
AMBAC FINANCIAL: Wins Approval for Dewey & LeBoeuf as Counsel
AMERICAN INT'L: 2010 Performance "Gravity-Defying," WSJ Says

AMERICAN INT'L: Discloses 11.7% Equity Stake in Blackstone Group
AMERICAN INT'L: Inks $3 Billion Credit Deal With JPMorgan Chase
ANTHONY SEALY: Case Summary & 20 Largest Unsecured Creditors
ART-EXCHANGE.COM, INC.: Case Summary & Creditors List
BEACON CAPITAL: To Sell Properties Under Loan Modification Deal

BERNARD L MADOFF: Accountant Sues US Marshals Over Forfeitures
BERNARD L MADOFF: Picard Sues Colorado Entities
BIOFUEL ENERGY: David Horn Has 39.8% Equity Stake
BIOFUEL ENERGY: Third Point Entities Have 22.8% Equity Stake
BLOCKBUSTER INC: Gets 45-Day Extension of Challenge Period

BLOCKBUSTER INC: Gets Nod to Assume Nat'l Union Insurance Pacts
BLOCKBUSTER INC: Wants Until April 21 to Decide on Leases
BLUEKNIGHT ENERGY: MSD Affirms Stand Against Restructuring Deal
BRICOUR PROPERTIES: Case Summary & 20 Largest Unsecured Creditors
C&D TECHNOLOGIES: Completes Debt-to-Equity Exchange Offer

C&D TECHNOLOGIES: Delisted From New York Stock Exchange
CAPITOL BANCORP: C. Meeusen Owns 97,625 Shares of Common Stock
CASCADE BANCORP: Shareholders OK Sale of $177MM of Stock
CHENIERE ENERGY: Acctg. Officer Smith Reports Equity Stake
CHENIERE ENERGY: GSO Capital et al. Disclose Equity Stake

CHIMNEY HILL: Case Summary & 18 Largest Unsecured Creditors
CLEAR CHANNEL: Exploring Financing Alternatives
CLEARWIRE CORP: Three Directors Do Not Own Any Securities
COLONIAL BANCGROUP: To Present Plan for Confirmation on Feb. 3
COMSTOCK MINING: Sun Valley Owns 4.8-Mil. Shares of Pref. Stock

COUNTRYWIDE FINANCIAL: Allstate Sues Over $700MM in MBS
CRYOPORT INC: 12.3 Mil. Shares May Be Resold by Stockholders
DANSY PROPERTIES: Case Summary & 4 Largest Unsecured Creditors
DIABETES AMERICA: Court Extends Filing of Schedules Until Feb. 4
DIABETES AMERICA: Gets Interim Nod to Use Cash Collateral

DOMINADOR CASTILLO: Case Summary & 17 Largest Unsecured Creditors
DR HORTON: S&P Retains 'BB-' Rating on $2.2 Bil. Senior Notes
DUKE AND KING: Bank of America Wants Case Converted to Chapter 7
DUKE AND KING: Has Access to Cash Collateral Until Jan. 14
DUKE AND KING: Section 341(a) Meeting Scheduled for January 18

DUKE AND KING: Wants Until Jan. 9 to File Schedules & Statements
EAGLES CREST: Case Summary & 8 Largest Unsecured Creditors
ECOLY INTERNATIONAL: Case Summary & Largest Unsecured Creditor
ELEPHANT TALK: Amends Form S-1; Files Signed Version of Opinion
ELEPHANT TALK: Amends Form S-8 to File Exhibits

EMMIS COMMUNICATIONS: JSA to Prosecute Claims vs. Alden Global
ENCORIUM GROUP: Delisted From NASDAQ Stock Market
ENERGY FUTURE: Offers $1.06-Bil. Senior Secured Notes Due 2020
FAIRPOINT COMMUNICATIONS: Wants Jan. 13 Phase 2 Plan Hearing
FIRST DATA: Exchange Offer Cues Fitch to Put 'CCC/RR6' Ratings

FIRST YORKSHIRE: Voluntary Chapter 11 Case Summary
FRANCIS ESSIEN: Case Summary & 19 Largest Unsecured Creditors
GARY ALLSHOUSE: Objection Deadline to Claim of Exemptions Extended
GENERAL MOTORS: Major Wall Street Banks Bullish on Shares
GREAT ATLANTIC & PACIFIC: Aletheia Has 10.1% Equity Stake

GREAT ATLANTIC & PACIFIC: Among Firms With Lowest Price/LQA Sales
GREAT ATLANTIC & PACIFIC: Won't Appeal NYSE Regulation Suspension
GREENBRIER COS: WL Ross Group Discloses 11.7% Equity Stake
HAWAIIAN TELCOM: Secured Lenders Start Trading New Equity
HERCULES OFFSHORE: Board Committee OKs Incentives for CEO

HOLOGIC INC: S&P Assigns 'BB+' Senior Unsecured Debt Rating
HUMBERTO TRIANA: Case Summary & 19 Largest Unsecured Creditors
INFOLOGIX INC: Files Information Statement on Stanley Merger
INFOLOGIX INC: To Be Delisted From Nasdaq Effective Dec. 30
INFOLOGIX INC: Delisted From NASDAQ Stock Market

INNOLOG HOLDINGS: M. Kane Discloses 33.3% Equity Stake
INTERNATIONAL COAL: V. Prem Watsa Discloses 11.1% Equity Stake
INTERNATIONAL COAL: WL Gross Discloses 6.02% Equity Stake
ISTAR FINANCIAL: Fir Tree Inc. Discloses 5.1% Equity Stake
JOHN LIMM: Chiri Acquisitions Wants Case Converted or Dismissed

JOHN LIMM: Hearing on Plan Outline Set for January 13
JOSEPH JUNKOVIC: Section 341(a) Meeting Scheduled for Feb. 2
JOSEPH SCHABATKA: Case Summary & 17 Largest Unsecured Creditors
JUMA TECHNOLOGY: A. Benowitz Discloses 82.6% Equity Stake
KENMORE REALTY: Section 341(a) Meeting Scheduled for Feb. 2

LA VILLITA: Gets Okay to Hire Oppenheimer Blend as Bankr. Counsel
LA VILLITA: Asks for Court's Permission to Use Cash Collateral
LDK SOLAR: $31.9 Mil. of Notes Accepted for Exchange
LEHMAN BROTHERS: Ad Hoc Creditors Amend Plan Outline Exhibit
LEHMAN BROTHERS: Court OKs falls of Neuse Settlement

LEHMAN BROTHERS: Wants to Clarify Protocol for Derivative Pacts
LUIS TABARES: Case Summary & 15 Largest Unsecured Creditors
LUIS VEGA: Case Summary & 11 Largest Unsecured Creditors
LUXE BEAUTY: Case Summary & 2 Largest Unsecured Creditors
MARGRET TUCKER: Voluntary Chapter 11 Case Summary

MARTIN CADILLAC: Newark Bankruptcy Judge Axes Sale Deal
MEDICAL CONNECTIONS: Major Shareholders OK Issuance of More Shares
MARK GINSBURG: Has Until February 7 to Propose Chapter 11 Plan
MICHAEL BOYER: Case Summary & 13 Largest Unsecured Creditors
MOLECULAR INSIGHT: M. Attarian Does Not Own Any Securities

MOUNTAIN PROVINCE: Enviro. Impact Statement for Gacho Kue Sent
N.L.C. UNITRUST: Taps Weir & Partners as Bankruptcy Counsel
NAIR'S LAWN: Case Summary & 20 Largest Unsecured Creditors
NATIONAL CENTURY: Court Declines to Cut D. Ayers' 15-Year Sentence
NATIONAL CENTURY: Court Denies Ariz. Noteholders Plea for Judgment

NATIONAL CENTURY: Ohio Court Sentences R. Parrett to 25 Years
NATIONAL COAL: Terminates Common Stock Registration
NAVISTAR INT'L: Earns $39 Million in 4th Quarter Ended Oct. 31
NEW BERN: Has Until December 30 to Propose Chapter 11 Plan
NORBERT MILLER: Case Summary & 4 Largest Unsecured Creditors

NORTHWESTERN STONE: Taps Kepler & Peyton as Bankruptcy Counsel
NORTHWESTERN STONE: Asks for Court's Nod to Use Cash Collateral
NOVASTAR FINANCIAL: Jefferies Capital Discloses 8.3% Equity Stake
OSCEOLA DEVELOPMENT: Case Summary & 7 Largest Unsecured Creditors
PEARL COS: 4th Grade Students Ask Judge to Save Orchestra

PLATINUM STUDIOS: CEO Rosenberg Extend Loans' Due Dates
PRIUM SPOKANE: Two Creditors Oppose Use of Cash Collateral
PROTEONOMIX INC: M. Cohen Discloses 17% Equity Stake
QUATRINE FURNITURE: Case Summary & 20 Largest Unsecured Creditors
QUEPASA CORP: Mexicans & Americans Discloses 19.4% Equity Stake

RACING SERVICES: N. Dak. Ct. Rules on Creditor's Suit v. Nevada
RAY SHAHANI: Court Dissolves Injunction in East West Suit
REINA FLORES: Case Summary & 11 Largest Unsecured Creditors
ROBERT LEWIS: Case Summary & 9 Largest Unsecured Creditors
SAND TECHNOLOGY: Registers 4,000,000 Class A Shares for Resale

SANSWIRE CORP: Director Seifert Disposes of 10,000 Shares
SHELBRAN INVESTMENTS: Section 341(a) Meeting Scheduled for Jan. 19
SINCLAIR BROADCAST: Has Retransmission Consent Deal With Mediacom
SINCLAIR BROADCAST: Time Warner to Remove Stations at Yearend
SKINNY NUTRITIONAL: Inks Subscription Deal With Investors

STATION CASINOS: Proposes to Assign Contracts to FG Opco
STATION CASINOS: Seeks Determination of Zero Income-Tax Liability
STATION CASINOS: Wants to Amend Plan, Asks for Confirmation
STILLWATER MINING: Norimet Reduces Stake to 0% After Sale
STRAWBERRY FARMS: Preston Strawberry Wants Ch. 11 Case Dismissed

SUNCAL COS: Calif. Court Approves Compromise With Lehman
SUZANNE GERBASI: Case Summary & 5 Largest Unsecured Creditors
TAYLOR BEAN: Bank of America Objects to Wells Fargo Accord
TERRESTAR NETWORKS: Court Sets Confirmation Hearing for March 4
TERRESTAR NETWORKS: Wins Approval to Reject Services Agreements

TERRESTAR NETWORKS: Wins Nod for Epiq as Subscription Agent
TIGRENT INC: Names Steven Barre as Chief Executive Officer
TOWNSENDS INC: Wants Filing of Schedules Extended by 30 Days
TOWNSENDS INC: Taps McKenna Long as Special Counsel
TOWNSENDS INC: Wants to Hire Dalton Edgecomb as CRO

TREVOR DAVIS: Files for Chapter 11 to Avoid Foreclosure
TREVOR DAVIS: Case Summary & 6 Largest Unsecured Creditors
TWAIN CONDOMINIUMS: Wants to Use City National's Cash Collateral
TWEETER HOME: Court Rules on CEA Broomfiled Lease Dispute
UNI-PIXEL: Osmium Capital Reports 7.15% Equity Stake

UNI-PIXEL: Raptor Capital Reports 19.07% Equity Stake
UNITED CONTINENTAL: B. Hart Owns 20,956 Shares of Restricted Stock
UNITED CONTINENTAL: Expects $8.6-$8.7 Billion Cash at End of 2010
UNITED CONTINENTAL: Gives Notice of Put Option On 5% Notes
UNITED CONTINENTAL: Updates Q4/Full Year 2010 Projections

VENTO FAMILY: Case Summary & 3 Largest Unsecured Creditors
VILICA LLC: Files Schedules of Assets & Liabilities
VISTA DEL RIO: Case Summary & 8 Largest Unsecured Creditors
VOLIN LLC: Preston Strawberry Wants Chapter 11 Case Dismissed
ZWC PROPERTIES: Case Summary & 9 Largest Unsecured Creditors

* Black Diamond Raises $372-Mil. for Distressed Fund

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

                            *********

1009 BH: Case Summary & 13 Largest Unsecured Creditors
------------------------------------------------------
Debtor: 1009 BH Properties, LLC
        1009 N. Beverly Drive
        Beverly Hills, CA 90210

Bankruptcy Case No.: 10-65061

Chapter 11 Petition Date: December 27, 2010

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

Debtor's Counsel: David J. Richardson, Esq.
                  THE CREDITORS' LAW GROUP
                  2310 Hyperion Avenue, Suite A
                  Los Angeles, CA 90027
                  Tel: (323) 686-5400
                  Fax: (323) 686-5403
                  E-mail: djr@thecreditorslawgroup.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 13 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-65061.pdf

The petition was signed by Brandon Wolsic, vice president of
Rossco Holdings Inc., manager.

Debtor-affiliates that filed separate Chapter 11 petitions:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Rossco Holdings, Inc.                 10-55951            08/02/10
Colony Lodging, Inc.                  10-55925            07/27/10
Monte Nido Estates, LLC               10-55947            07/28/10
WM Properties, Ltd.                   10-55970            07/28/10
Leonard M. Ross                       10-49358            09/15/10


ABITIBIBOWATER INC: 8 Directors Do Not Own Any Securities
---------------------------------------------------------
In separate Form 3 filings with the Securities and Exchange
Commission on December 17, 2010, eight directors at AbitibiBowater
Inc. disclosed that they do not beneficially own any securities of
the Company.  They are:

   (1) Michael S. Rousseau
   (2) Alain Rheaume
   (3) Sarah E. Nash
   (4) Jeffrey A. Hearn
   (5) Richard Garneau
   (6) Richard D. Falconer
   (7) Pierre Dupuis
   (8) David H. Wilkins

                     About AbitibiBowater Inc.

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

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

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

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

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

The U.S. Bankruptcy Court issued an opinion confirming
AbitibiBowater's plan of reorganization under chapter 11 of the
U.S. Bankruptcy Code on November 22, 2010.  The Debtor also
obtained approval of its reorganization plan under the Canadian
Companies' Creditors Arrangement Act.  AbitibiBowater emerged from
bankruptcy on December 9, 2010.


ABITIBIBOWATER INC: Avenue Capital Discloses 5.1% Equity Stake
--------------------------------------------------------------
In an amended Schedule 13D filing with the Securities and Exchange
Commission on December 20, 2010, Avenue Capital Management II,
L.P. disclosed that it beneficially owns 3,774,059 shares of
common stock of AbitibiBowater Inc., representing 5.1% of the
shares outstanding.

Other affiliates of Avenue Capital Management also disclosed
beneficial ownership of shares:

                                             Shares       Equity
                                       Beneficially Owned Stake
                                       ------------------ ------
Avenue Investments, L.P.                      99,661     0.1%
Avenue International Master, L.P.            288,379     0.4%
Avenue International, Ltd.                   288,379     0.4%
Avenue International Master GenPar, Ltd.     288,379     0.4%
Avenue Partners, LLC                         388,040     0.5%
Avenue CDP Global Opportunities Fund, L.P.    90,121     0.1%
Avenue Global Opportunities Fund GenPar, LLC  90,121     0.1%
Avenue Special Situations Fund IV, L.P.      686,525     0.9%
Avenue Capital Partners IV, LLC              686,525     0.9%
GL Partners IV, LLC                          686,525     0.9%
Avenue Special Situations Fund V LP        2,609,373     3.5%
Avenue Capital Partners V, LLC             2,609,373     3.5%
GL Partners V, LLC                         2,609,373     3.5%
Avenue Capital Management II GenPar, LLC   3,774,059     5.1%
Marc Lasry                                 3,774,059     5.1%

The approximate percentages of Common Stock reported as
beneficially owned by the Reporting Persons are based upon
73,752,881 shares of Common Stock issued and outstanding as of
December 9, 2010, as reported by the Company in its Form 8-K filed
by with the Securities Exchange Commission on December 15, 2010.

The numbers and approximate percentage of shares of Common Stock
reported as beneficially owned by the Reporting Persons exclude
Common Stock that may be issued in connection with the resolution
of certain disputed claims in respect of which share reserves have
been created, including among others a disputed claim by Bowater
Canada Finance Corporation against Bowater Inc.  An Aggregate of
23,382,073 shares of Common Stock is being held in such reserves.
The amount of Common Stock, if any, that could be received by the
Reporting Persons in future distributions from such reserves in
connection with the resolution of such claims, and the timing of
any such distributions, is uncertain.

                      About AbitibiBowater Inc.

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

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

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

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

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

The U.S. Bankruptcy Court issued an opinion confirming
AbitibiBowater's plan of reorganization under chapter 11 of the
U.S. Bankruptcy Code on November 22, 2010.  The Debtor also
obtained approval of its reorganization plan under the Canadian
Companies' Creditors Arrangement Act.  AbitibiBowater emerged from
bankruptcy on December 9, 2010.

This concludes the Troubled Company Reporter's coverage of
AbitibiBowater Inc. until facts and circumstances, if any, emerge
that demonstrate financial or operational strain or difficulty at
a level sufficient to warrant renewed coverage.


ALAN HOWARD: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Alan M. Howard
        19427 Braewood Drive
        Tarzana, CA 91356

Bankruptcy Case No.: 10-26063

Chapter 11 Petition Date: December 23, 2010

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

Judge: Maureen Tighe

Debtor's Counsel: Ron Bender, Esq.
                  10250 Constellation Boulevard, Suite 1700
                  LEVENE, NEALE, BENDER, YOO & BRILL, L.L.P.
                  Los Angeles, CA 90067
                  Tel: (310) 229-1234
                  E-mail: rb@lnbrb.com

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

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

A list of the Debtor's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-26063.pdf


ALL AMERICAN: Assures Approval of Plan Merger
---------------------------------------------
All American Group, Inc., and some parties filed early this month
a Rule 13e-3 Transaction Statement Under Section 13(e) of the
Securities Exchange Act of 1934.

On November 8, 2010, All American Group Holdings, LLC, All
American Acquisition Corporation, All American Group, Inc., and
Richard M. Lavers, as Shareholders Representative entered into an
Agreement and Plan of Merger.  The Merger Agreement provides for
the merger of Acquisition Sub with and into AAG.  AAG will be the
surviving corporation in the Merger and, immediately following the
Merger, Acquiror will own all of the outstanding capital stock of
AAG.

Each common share, without par value, of AAG (other than Common
Shares held by AAG, Acquiror and its affiliates, or shareholders
that perfect their dissenters' rights under Indiana law) will be
automatically converted into the right to receive $0.20 in cash
and all shareholders, other than shareholders who perfect their
dissenter's rights under Indiana law, will receive one unit of
beneficial interest in a liquidating trust that will represent a
contingent right to receive proceeds from the potential sale of
AAG's specialty vehicles business in accordance with the terms of
the Merger Agreement, for each Common Share they own.

The Merger is subject to the satisfaction or waiver of various
conditions set forth in the Merger Agreement, including approval
of the Merger Agreement by the shareholders of AAG.  Shareholder
approval of the Merger Agreement requires the affirmative vote of
a majority of the outstanding Common Shares.  The Merger Agreement
requires that Acquirer and its affiliates all vote in favor if the
Merger.  Since the Lender owns 20,483,865 Common Shares,
representing approximately 55.7% of the outstanding Common Shares,
approval of the Merger is assured.

Concurrently with the filing of this Schedule 13E-3, AAG is filing
with the SEC a preliminary proxy statement on Schedule 14A
pursuant to Section 14(a) of the Securities Exchange Act of 1934
which forms a part of the Registration Statement being filed by
Specialty Vehicles Liquidating Trust on Form S-4 relating to a
special meeting of shareholders of AAG.  At the meeting, AAG
shareholders will (1) consider and vote upon a proposal to approve
the Merger Agreement and (2) transact such other business as may
properly come before the special meeting or any adjournment or
postponement thereof.

                     About All American Group

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

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

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

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

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

                           *     *     *

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


AMBAC FINANCIAL: Committee Has Information Sharing Protocol
-----------------------------------------------------------
The Official Committee of Unsecured Creditors for Ambac Financial
Group Inc. sought and obtained an order from Bankruptcy Judge
Shelley Chapman declaring that it is not authorized or required,
pursuant to Section 1102(b)(3)(A) of the Bankruptcy Code, to
provide access of these information to the creditors it
represents:

   (i) Ambac Financial Group, Inc.'s confidential and other non-
       public proprietary information;

  (ii) the Committee's confidential information; or

(iii) privileged information.

The Creditors' Committee also asks the Court to fix creditor
information sharing procedures.

Anthony Princi, Esq., at Morrison & Foerster LLP, in New York --
aprinci@mofo.com -- argues that Section 1102(b)(3)(A) is unclear
and ambiguous.  The statute simply requires a creditors'
committee "to provide access to information," yet sets forth no
guidelines as to the type, kind and extent of the information to
be provided, he points out.  He asserts that the Debtor is in a
very competitive industry and the dissemination of confidential
information to parties who are not bound by any confidentiality
agreement could be damaging for the Debtor.

If the Debtor's general creditors could require the Committee to
give them access to Confidential Information in its possession,
that information easily could become public immediately
thereafter, Mr. Princi stresses.  If there was a risk that
Confidential Information given by the Debtor to the Committee
would have to be turned over to any creditor, the Debtor would be
highly discouraged from giving Confidential Information to the
Committee in the first place, he asserts.  He contends that the
inability of the Committee to gain access to Confidential
Information, in turn, could limit the ability of the Committee to
fulfill its statutory obligations under the Bankruptcy Code.

Against this backdrop, the Committee proposed certain procedures
to govern information-sharing to creditors to help ensure that
Confidential Information will not be disseminated to the
detriment of the Debtor's estates and aid the Committee in
performing its statutory functions.

The proposed procedures are:

  (1) The Committee will respond to a general unsecured
      creditor's request for information within 20 days of the
      Committee's receipt of that request.  That response will
      provide access to the requested information or reasons why
      that information will not be provided.

  (2) If the information request is denied because it requests
      confidential information, confidential and other non-
      public proprietary information typically shared with a
      creditors' committee or "Committee Confidential
      Information," or privileged Information, which cannot be
      disclosed, or the request is unduly burdensome, that
      creditor, after good faith attempts to meet and confer
      with the Committee, can file a motion asking that the
      information be provided.

  (3) In responding to an information request, the Committee
      will consider certain factors, including (i) the
      creditor's willingness to enter into a confidentiality
      agreement and trading restrictions; (ii) whether the
      requesting creditor is involved in the trading of claims
      or equity interests; and (iii) whether the requesting
      creditor is a current or prospective competitor of the
      Debtor.

  (4) If the Committee agrees that Confidential Information of
      the Debtor should be supplied to a general unsecured
      creditor, by request or otherwise, it will do so only if
      that creditor first enters into a confidentiality
      agreement reasonably acceptable to the Debtor and the
      Committee and pursuant to the proposed Information Sharing
      Procedures.

  (5) If the Information Request implicates Confidential
      Information of the Debtor and the Committee agrees that
      the request should be satisfied, or if the Committee on
      its own wishes to disclose that Confidential Information
      to creditors, the Committee will follow these procedures:

      -- If the Confidential Information is information of the
         Debtor, the Committee will submit a written request to
         counsel for the Debtor, describing the sought
         Confidential Information in reasonable detail and
         stating that the information will be disclosed in the
         manner described in the Committee's information demand.
         If the Debtor objects within 15 days after the service
         of the demand, the Committee and the Requesting Party
         will attempt to resolve the Debtor's objection to the
         Committee Information Demand.  Absent a resolution of
         the Debtors' Objection, the Committee will schedule a
         hearing within 20 days, to demonstrate why disclosure
         of the information sought is appropriate.

      -- If the Confidential Information is information of
         another Entity, the Committee will submit a written
         request or demand to that Entity and its counsel of
         record, stating that the information will be disclosed
         in the manner described in the Committee Information
         Demand.  If the Entity or the Debtor objects to the
         Committee Information Demand on or before 15 days after
         the service of that demand, the Entity and Requesting
         Creditor will attempt to resolve the Debtor's or the
         Entity's objection to the Committee Information Demand.
         Absent a resolution of the Debtor's or the Entity's
         objection, the Committee will schedule a hearing within
         20 days.

  (6) The Committee may disclose any Committee Confidential
      Information, so long as that disclosure does not violate
      any confidentiality agreement.

Mr. Princi stresses that the disclosure of non-public or
privileged information to certain creditors will likely cause
serious harm to the Debtor's estates.  He clarifies that the
Creditors' Motion does not mean that the Committee will not be
providing information to its constituents pursuant to Section
1102(b)(3)(A).  On the contrary, the Committee will make
available to creditors at their request a variety of public
information concerning the Debtor, including pleadings filed with
the Court, the Debtor's schedules and statements of financial
affairs and the Debtor's monthly operating reports, he assures
Judge Chapman.

In addition, at a time as the Debtor asks a vote on a Chapter 11
plan from its creditors, the Debtor will provide those creditors
with additional material information in a disclosure statement
that satisfies the requirements of Section 1125(b) of the
Bankruptcy Code, Mr. Princi avers.

The Debtor and the Committee further seek clarification that the
Committee's duties under Section 1102(b)(3) are satisfied by
(i) responding promptly to written and telephonic inquiries
received from the creditors it represents; and (ii) establishing
and maintaining an electronic mail address for creditors to submit
questions and comments to the Committee.

                       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.

Anthony Princi, Esq., Gary S. Lee, Esq., and Brett H. Miller,
Esq., at Morrison & Foerster LLP, in New York, serve as counsel to
the Official Committee of Unsecured Creditors.

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 FINANCIAL: Gets OK to Pay Employee & Tax Obligations
----------------------------------------------------------
Ambac Financial Group, Inc., received the Bankruptcy Court's
permission to pay and honor:

  (a) all claims relating to certain taxes and fees;

  (b) all amounts payable to MJK Tax Services, a critical
      vendor, with respect of services rendered prepetition; and

  (c) all prepetition claims relating to employee wages,
      benefits, and reimbursable expenses.

The Debtor regularly pays franchise taxes to the Delaware
Secretary of State to maintain its existence as a Delaware
corporation.  The Debtor is also required to make estimated
Delaware Franchise Tax payments on March 1, June 1, September 1
and December 1 of each year, and was required to make an
estimated Delaware Franchise Tax payment of about $36,000, on
December 1, 2010.  The Debtor however has failed to make this
payment, as that payment could potentially be considered a
payment on account of a prepetition claim.

Overdue estimated Delaware Franchise Tax payments accrue interest
at the rate of 1.5% per month.  Failure to make timely estimated
Delaware Franchise Tax payments could result in the assessment of
additional penalties against the Debtor.  Notwithstanding Section
525(a) of the Bankruptcy Code, the Delaware Secretary of State
has indicated that it will designate the Debtor as "not in good
standing" for failure to timely pay those taxes, which could
significantly impair the Debtor's ability to do business in
Delaware and complete a successful reorganization.

The Debtor is also required to withhold from Employee Wages
amounts relating to federal, state, and local income taxes and
social security and Medicare taxes for remittance to the
appropriate taxing authority.  These amounts are referred to as
the Payroll Taxes.  The Debtor must then pay, from its own funds,
social security and Medicare taxes and additional amounts for
federal and state unemployment insurance.  Although the Debtor is
not aware of any at this time, there may exist other prepetition
"trust fund" type taxes, franchise taxes, business license fees,
annual report filing fees, and other charges or assessments by
governmental units, and for which, if those Taxes and Fees remain
unpaid, the Debtor may incur significant additional liability,
Allison H. Weiss, Esq., at Dewey & LeBoeuf LLP, in New York,
relates.

In addition, the Debtor utilizes tax recovery services furnished
by MJK Tax Services to recover tax refunds from the Delaware
Department of Corporations of about $80,000 and $130,000 for the
2008 and 2009 calendar years.

As of the Petition Date, the Debtor employs four employees, which
are owed one day's gross wages in these amounts:

  Name                    Title                       Owed Wages
  ----                    -----                       ----------
  David W. Wallis         Pres., Chief Exec. Officer     $4,807

  Michael A. Callen       Chairman                       $3,125

  David Trick             Sr. Managing Director,         $2,307
                          Chief Financial Officer

  Diana Adams             Senior Managing Director       $2,163

While the vast majority of the Employees' benefits are furnished
by Ambac Assurance Corp. or funded by the Employees, certain
benefits are paid by the Debtor.  As a result of the Debtor's
bankruptcy filing, certain third party benefit providers have
discontinued, or have threatened to discontinue, services, Ms.
Weiss tells the Court.  In addition, the Debtor reimbursed its
Employees and certain AAC employees for expenses incurred on
behalf of and for the benefit of the Debtor.

Certain of the Debtor's and AAC's employees were also provided
with company credit cards, which are used in the ordinary course
of business to pay reimbursable expenses.  As a result of the
filing of the Debtor's bankruptcy case, the credit card issuer
has ceased extending credit to the Debtor and its affiliates,
including AAC, according to Ms. Weiss.

Ms. Weiss asserts that because the Payroll Taxes are not property
of the Debtor's estate, those amounts, and similar trust fund
taxes, are not subject to normal bankruptcy prohibitions against
payment.  However, failure to pay the Payroll Taxes and other
trust fund taxes could result in the Debtor's directors and
officers being held personally liable for those taxes, she
stresses.  The Debtor thus asks the Court to confirm that the
trust fund withholding is not property of its estate and that it
may transmit the Payroll Taxes and similar trust fund taxes to
the proper parties in the ordinary course of business.

Ms. Weiss further notes that claims relating to the Debtor's Tax
Obligations and Employee Obligations are entitled to priority
status under Section 507 of the Bankruptcy Code.  Paying the
Employee Obligations would also reduce the amount of priority
claims which would otherwise be asserted against the Debtor's
estate, she insists.

More importantly, as the Debtor has only four Employees, the
Debtor cannot afford the loss of any Employee at this time and
the Debtor must do its utmost to motivate its Employees by paying
the Employee Obligations, Ms. Weiss stresses.  The Debtor's
failure to pay the Employee Obligations has imposed a burden on
the Debtor's few Employees, who should not have to bear that
burden while they work diligently on helping the Debtor to
reorganize, she points out.

In addition, the Critical Vendor's services are essential to the
Debtor's ability to assure that no unnecessary tax liability is
incurred and that valuable tax refunds will be recovered for the
Debtor's estate, Ms. Weiss emphasizes.

The Debtor further asks the Court to authorize and direct
financial institutions to honor, process, and pay all fund
transfer requests relating to the Tax, Critical Vendor, and
Employee Obligations.

                       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.

Anthony Princi, Esq., Gary S. Lee, Esq., and Brett H. Miller,
Esq., at Morrison & Foerster LLP, in New York, serve as counsel to
the Official Committee of Unsecured Creditors.

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 FINANCIAL: Settles Securities Class Actions for $27.1 Mil.
----------------------------------------------------------------
Ambac Financial Group, Inc., related that it has entered into a
memorandum of understanding with lead plaintiffs for the
settlement of two securities class actions for $27.1 million,
according to a regulatory filing the Company submitted to the
U.S. Securities and Exchange Commission on December 14, 2010.

The disclosure is a legal proceedings update on AFG's Form 10-Q
filing with the SEC for the quarter ended September 30, 2010.

AFG and certain of its present or former officers or directors
have been named in lawsuits that allege violations of the federal
securities laws.  The Securities Class Actions include:

  (1) five class actions in the U.S. District Court for the
      Southern District of New York that were consolidated under
      the caption In re Ambac Financial Group, Inc. Securities
      Litigation, Lead Case No. 08 CV 411; the consolidated
      amended complaint purports to be brought on behalf of
      purchasers of AFG's common stock from October 25, 2006 to
      April 22, 2008, on behalf of purchasers of AFG's "DISCS,"
      issued in February 2007, and on behalf of purchasers of
      equity units and common stock in AFG's March 2008
      offerings; and

(ii) a putative class action entitled Stanley Tolin et al. v.
      Ambac Financial Group, Inc. et al., filed in the U.S.
      District Court for the Southern District of New York
      against AFG, one former officer and director and one
      former officer, Case No. 08 CV 11241, brought on behalf of
      all purchasers of Structured Repackaged Asset-Backed Trust
      Securities, Callable Class A Certificates, Series 2007-1,
      STRATS(SM) Trust for Ambac Financial Group, Inc.
      Securities 2007-1 ("STRATS") from June 29, 2007 through
      April 22, 2008.

The complaints allege, among other things, that the defendants
issued materially false and misleading statements regarding AFG's
business and financial results and guarantees of CDO and MBS
transactions, in violation of the securities laws.

Various shareholder derivative actions have also been filed
against certain present or former officers or directors of AFG,
and against AFG as a nominal defendant.  The Shareholder
Derivative Actions include:

  (i) three actions filed in the U.S. District Court for the
      Southern District of New York that have been consolidated
      under the caption In re Ambac Financial Group, Inc.
      Derivative Litigation, Lead Case No. 08 CV 854;

(ii) two actions filed in the Delaware Court of Chancery that
      have been consolidated under the caption In re Ambac
      Financial Group, Inc. Shareholders Derivative Litigation,
      Consolidated C.A. No. 3521; and

(iii) two actions filed in the Supreme Court of the State of New
      York, New York County, that have been consolidated under
      the caption In re Ambac Financial Group, Inc. Shareholder
      Derivative Litigation, Consolidated Index No.
      650050/2008E.

The complaints in each of the Shareholder Derivative Actions
assert, among other things, claims for breaches of fiduciary
duties, gross mismanagement, abuse of control and waste.

On November 22, 2010, the consolidated shareholder derivative
action pending in the New York District Court was dismissed in
light of the automatic stay required by AFG's filing for
bankruptcy.

On December 9, 2010, AFG and certain of its present or former
officers or directors, including the present or former officers
or directors who are defendants in the Securities Class Actions,
entered into the MOU with the lead plaintiffs In re Ambac
Financial Group, Inc. Securities Litigation and the named
plaintiffs in Tolin v. Ambac Financial Group, Inc. for settlement
of both of the Securities Class Actions.

The salient terms of the MOU are:

  (1) The claims of the putative plaintiff classes will be
      settled for a cash payment of $27.1 million.  The
      insurance carriers who provided directors and officers
      liability coverage to AFG's present and former officers
      and directors for the period July 2007 through July 2009
      have agreed to pay $24.6 million of the settlement and AFG
      has agreed to pay $2.5 million of the settlement.

  (2) Lead and named plaintiffs in the Securities Class Actions,
      on behalf of themselves and all other members of the
      settlement class, have agreed to releases of claims
      against, among others, AFG and the present or former
      officers or directors who are parties to the MOU.

  (3) The settlement provided for in the MOU is subject to
      various conditions, including the U.S. Bankruptcy Court
      for the Southern District of New York's approval of the
      settlement and of the releases and bar orders that would
      release and bar claims against present or former officers
      or directors of AFG that were, could have been, might have
      been or might be in the future asserted by or on behalf of
      AFG, including claims purportedly asserted derivatively by
      any shareholder or creditor of AFG.

  (4) The settlement provided for in the MOU also contemplates
      an order entered by the Bankruptcy Court directing the
      filing of appropriate applications seeking dismissal of
      the Shareholder Derivative Actions.

                       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.

Anthony Princi, Esq., Gary S. Lee, Esq., and Brett H. Miller,
Esq., at Morrison & Foerster LLP, in New York, serve as counsel to
the Official Committee of Unsecured Creditors.

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 FINANCIAL: Wins Approval for Dewey & LeBoeuf as Counsel
-------------------------------------------------------------
Ambac Financial Group, Inc., received the Bankruptcy Court's
permission to employ Dewey & LeBoeuf LLP as its counsel, nunc pro
tunc to the Petition Date.

As the Debtor's counsel, Dewey & LeBoeuf will:

  (a) advise the Debtor in connection with the legal aspects of
      a financial restructuring under Chapter 11;

  (b) prepare on behalf of the Debtor, as debtor-in-possession,
      all necessary motions, applications, answers, orders,
      reports, and other papers in connection with the
      administration of the Debtor's estate;

  (c) take all necessary action to protect and preserve the
      Debtor's estate, including the prosecution of actions on
      the Debtor's behalf, the defense of any actions commenced
      against the Debtor, the negotiation of disputes in which
      the Debtor is involved, like adversary proceedings,
      contested matters and matters before other courts,
      tribunals and adjudicative bodies, and the preparation of
      objections to claims filed against the Debtor's estate;

  (d) take all necessary actions, including to negotiate and
      prepare on behalf of the Debtor, a Chapter 11 plan and
      related disclosure statement and all related documents,
      and further actions as may be required in connection with
      the administration of the Debtor's estate; and

  (e) perform all other necessary legal services in connection
      with the prosecution of the Debtor's Chapter 11 case.

The Debtor will pay Dewey & LeBoeuf's professionals according to
the firm's customary hourly rates:

          Title                            Rate per Hour
          -----                            -------------
          Partners                          $695 to $975
          Counsel                           $625 to $800
          Associates                        $385 to $625
          Paraprofessionals                 $125 to $385

The Debtor will also reimburse Dewey & LeBoeuf for actual and
necessary expenses incurred.

The Debtor discloses that in the one year before the Petition
Date, it paid Dewey & LeBoeuf $5,012,143 in fees and $107,532 as
expenses for services performed on several regulatory, tax and
corporate matters.  The Debtor further states that on Nov. 3 and
8, 2010, it advanced retainers to Dewey & LeBoeuf aggregating
$3 million and $1.5 million, on account of financial
restructuring and reorganization services performed and to be
performed, including in connection with its Chapter 11 case, and
related expenses incurred and to be incurred.

As of the Petition Date, Dewey & LeBoeuf has a remaining credit
balance of approximately $3 million in favor of the Debtor.
Dewey & LeBoeuf will continue to hold the excess amounts as
retainer.

Michael Groll, Esq., a member at Dewey & LeBoeuf -- mgroll@dl.com
-- relates that his firm has rendered services within the past
two years to certain parties in matters unrelated to the Debtor
and its Chapter 11 case.

A schedule of the parties Dewey & LeBoeuf represented in the past
two years in matters unrelated to the Debtor's case is available
for free at http://bankrupt.com/misc/Ambac_DeweyCurrentClients.pdf

Mr. Groll discloses that Dewey & LeBoeuf also represented Loyens
& Loeff (USA) BV, Goldman Sachs International, Hudson, Oracle
Corporation, Pacific Indemnity and RBC Capital Markets in matters
unrelated to the Debtor.

In addition, Mr. Groll notes that certain parties are potential
clients of Dewey & LeBoeuf, a schedule of which is available for
free at http://bankrupt.com/misc/Ambac_DeweyPotentialClients.pdf

Mr. Groll reveals further that Barclays PLC, Private Banking &
Investment Banking; and Blackstone Advisory Services LP are
related entities to Dewey & LeBoeuf.

In addition, Mr. Groll relates that Lauren C. Cohen, an associate
in Dewey & LeBoeuf's Business Solutions and Governance group,
recently joined his group from Willkie, Farr & Gallagher LLP.
While in Wilkie Farr, she worked with Judge Shelley C. Chapman, a
former partner at that firm, on matters unrelated to the Debtor
or its Chapter 11 case.  Ms. Cohen may, from time to time, be
asked to work on matters related to the Debtor's Chapter 11 case.

Dewey & LeBoeuf provided summer and temporary employment to the
son of the Debtor's general counsel, Mr. Groll adds.

One junior associate of Dewey & LeBoeuf is on a secondment to the
Debtor, Mr. Groll relates.  The secondment began on October 6,
2010, and will continue until December 31, 2010.  Dewey & LeBoeuf
continues to pay this employee's salary, and the secondee is not
considered an employee of the Debtor.  Mr. Groll adds that a
member and two employees of Dewey & LeBoeuf own the Debtor's
securities.  Pursuant to Dewey & LeBoeuf's policy, all personnel
of Dewey & LeBoeuf are barred from trading in securities with
respect to which they possess confidential information, he
assures the Court.

Despite those disclosures, Mr. Groll assures the Court that that
Dewey & LeBoeuf is a "disinterested person" as the term is
defined under Section 101(14) of the Bankruptcy Code.

                           *     *     *

Before entry of the Court's order, the Official Committee of
Unsecured Creditors reserved its rights in the event it should
determine to seek to disqualify Dewey & LeBoeuf LLP as Ambac
Financial Group, Inc.'s general bankruptcy counsel.

Counsel to the Committee, Anthony Princi, Esq., at Morrison &
Foerster LLP, in New York, explained that given the short period
of time that it has been constituted and interacted with the
Debtor's proposed professionals, the Committee is not able to
properly assess whether Dewey's engagement with the Debtor and
Ambac Assurance Corporation will impair Dewey & LeBoeuf's ability
to fully and properly represent the interests of the Debtor's
estate.

In furtherance of the Debtor's Application, Michael Groll, Esq.,
a member of Dewey & LeBoeuf, filed with the Court a declaration
to address, among other things, certain issues raised by the U.S.
Trustee for Region 2.

Mr. Groll said Dewey & LeBoeuf's representation of the Debtor and
its non-debtor subsidiaries is typical of debtor representations
where not all members of a corporate family file for bankruptcy.
More importantly, the amount of Ambac group's consolidated net
operating losses is the most significant potential source of
intercompany claims, he related.  This does not, per se, create a
conflict, he asserted.  With respect to the junior associate on
secondment to the Debtor, that seconded associate started at the
firm in September 2007, Mr. Groll disclosed.  That associate
participated in Dewey & LeBoeuf's deferral program in May 2009
and was seconded to the Debtor in October 2009.  From May 2009
through her secondment, that associate did not have any access to
client information, according to Mr. Groll.  In addition, prior
to participating in DL Pursuits, that associate billed a total of
nine hours on matters relating to AAC, the Debtor, or any other
Ambac-related entity, Mr. Groll stated.

Mr. Groll further disclosed that AAC is a creditor in Capmark
Financial Group, Inc.'s Chapter 11 case.  Capmark is not adverse
to the Debtor in this case, or vice versa, he assured the Court.
Nevertheless, Capmark has retained conflicts counsel and, to the
extent that a conflict arises between Capmark and AAC, Capmark's
conflicts counsel, and not Dewey & LeBoeuf, will undertake
representation of Capmark, he said.

As of January 1, 2011, in accordance with Dewey & LeBoeuf's usual
practice, Dewey & LeBoeuf will increase its customary hourly
rates to $625 to $1,000 for members and counsel, $385 to $650 for
associates, and $200 to $385 for paraprofessionals expected to
work on in the Debtor's Chapter 11 case.  If at any time in the
future Dewey & LeBoeuf increases the rates for its services, the
firm will file a supplemental affidavit with the Court describing
those increases.  Upon reasonable request of the U.S. Trustee,
Dewey & LeBoeuf will provide redacted copies of the firm's
invoices for work performed on behalf of AAC for review by the
U.S. Trustee.

                       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.

Anthony Princi, Esq., Gary S. Lee, Esq., and Brett H. Miller,
Esq., at Morrison & Foerster LLP, in New York, serve as counsel to
the Official Committee of Unsecured Creditors.

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)


AMERICAN INT'L: 2010 Performance "Gravity-Defying," WSJ Says
------------------------------------------------------------
The Wall Street Journal's Serena Ng reports that American
International Group Inc. has defied critics and rallied to become
one of the market's top performers in 2010.  Ms. Ng notes AIG's
publicly traded shares on Tuesday closed 45 cents lower at $58.93,
capping a nearly 97% gain in the year to date and over 42% in
December alone.  AIG is the fourth-best performer in the S&P 500
index this year.

The Journal calls AIG's performance "gravity-defying".  Ms. Ng
notes investors are anticipating the U.S. government will be able
to sell a 92% stake in AIG, recoup its $182.3 billion bailout, and
leave behind some value for private shareholders -- an outcome
that was highly improbable early in the year.  Ms. Ng also points
out there is even potential for upside after AIG completes its
asset sales, which are expected to raise over $50 billion.  AIG is
close to choosing a buyer for its Taiwanese unit, Nan Shan Life
Insurance Co., which could fetch over $2 billion.

Securities AIG acquired in a deal with MetLife Inc., and its
remaining stake in pan-Asian insurer AIA Group Ltd., have also
gained in value, Ms. Ng reports, citing Andrew Kligerman, an
analyst at UBS Investment Research, who has a "neutral" rating on
AIG.  "AIG has lost luster given its global divestitures -- but it
is clearly still an important and prominent company," Mr.
Kligerman said, according the Journal report.

Ms. Ng, however, points out the stock move is deceptive in some
regards.  Each AIG share today used to be 20 shares before the
company's near-collapse.  According to Ms. Ng, if AIG hadn't
conducted a reverse stock split last year, its share price would
be about $2.95, compared with $57.94 three years ago.  She relates
in December 2007, AIG had a market value of above $150 billion.
Following its liquidity crisis and government rescue in 2008, the
value of its common shares fell to a low of $1 billion in March
2009.  Today, private investors in AIG own common shares worth a
total of $8 billion, and the current share price includes the
value of warrants the company plans to issue to private
shareholders.  In the coming months, the Treasury Department
intends to convert preferred AIG shares into over 1.6 billion
common shares.  All told, AIG has a total implied market value of
over $80 billion, according to Ms. Ng.

As reported by the Troubled Company Reporter on December 28, 2010,
AIG entered into 364-Day and 3-Year Bank Credit Facilities
totaling $3 billion split evenly between the two.  AIG affiliate,
Chartis Inc., entered into a 1-Year $1.3 billion Letter of Credit
Facility.  Thirty-Six banks participated in the facilities.

                             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 INT'L: Discloses 11.7% Equity Stake in Blackstone Group
----------------------------------------------------------------
In a Schedule 13G filing with the Securities and Exchange
Commission on December 17, 2010, American National Group, Inc.
disclosed that it beneficially owns 35,737,235 common units
representing limited partnership interests of The Blackstone Group
L.P., representing 11.7% of the shares outstanding.  AIG BG
Holding LLC beneficially owns 35,737,235 shares.

AIG Holdings is deemed to own and have the power to dispose of
35,737,235 voting common units representing limited partnership
interests, or 11.7% of the sum of:

   (i) the 258,577,585 voting common units representing limited
       partnership interests that, based upon the Form 10-Q for
       the quarterly period ended September 30, 2010 filed with
       the Securities and Exchange Commission by The Blackstone
       Group L.P., were outstanding on October 29, 2010;

  (ii) the 10,000,000 voting common units representing limited
       partnership interests that were delivered by the issuer to
       AIG Holdings on December 15, 2010; and

(iii) the 35,737,235 voting common units representing limited
       partnership interest that are expected to be delivered by
       the issuer to AIG Holdings on February 9, 2011.

American International Group, Inc. has sole voting power to elect
managers of AIG Holdings, and accordingly has shared power to vote
and dispose of any securities owned by AIG Holdings.

In a separate Form 3 filing, on December 17, 2010, American
International disclosed that it beneficially owns 45,737,235
shares of common units representing limited partnership interests
of Blackstone Group L.P.

Pursuant to an exchange agreement, holders of Blackstone Holdings
partnership units (which term refers collectively to a partnership
unit in each of Blackstone Holdings I L.P., Blackstone Holdings II
L.P., Blackstone Holdings III L.P. and Blackstone Holdings IV
L.P.), subject to the vesting and minimum retained ownership
requirements and transfer restrictions set forth in the
partnership agreements of the Blackstone Holdings partnerships,
may from time-to-time exchange their Blackstone Holdings
partnership units for The Blackstone Group L.P. common units on a
one-for-one basis, subject to customary conversion rate
adjustments for splits, unit distributions and reclassifications.

A Blackstone Holdings limited partner must exchange one
partnership unit in each of the four Blackstone Holdings
partnerships to effect an exchange for a common unit.

On November 15, 2010, AIG BG Holdings LLC delivered notice to the
Blackstone Holdings entities and The Blackstone Group L.P. to
exchange 10,000,000 of its Blackstone Holdings partnership units
for 10,000,000 common units which were delivered by the issuer to
AIG Holdings on December 15, 2010.

On December 9, 2010, AIG Holdings delivered a further notice to
the Blackstone Holdings entities and The Blackstone Group L.P. to
exchange its remaining 35,737,235 Blackstone Holdings partnership
units for 35,737,235 common units of the issuer, which are
expected to be delivered on February 9, 2011.

The reported shares are held directly by AIG Holdings which is a
wholly owned subsidiary of American International Group, Inc.  AIG
is an indirect beneficial owner of the reported securities.

                             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 INT'L: Inks $3 Billion Credit Deal With JPMorgan Chase
---------------------------------------------------------------
On December 23, 2010, American International Group Inc. entered
into (i) a $1,500,000,000 Three-Year Credit Agreement among AIG,
the subsidiary borrowers party thereto, the lenders party thereto
and JPMorgan Chase Bank, N.A., as Administrative Agent; and (ii) a
$1,500,000,000 364-Day Credit Agreement among AIG, the subsidiary
borrowers party thereto, the lenders party thereto, and JPMorgan
Chase Bank, N.A., as Administrative Agent.

In addition, on the same date, Chartis, Inc., a wholly-owned
subsidiary of AIG entered into a $1,300,000,000 Letter of Credit
and Reimbursement Agreement among Chartis, the lenders party
thereto, JPMorgan Chase Bank, N.A., as Administrative Agent, and
each Several L/C Agent Party thereto.

The obligations of the lenders under the New Agreements to make
loans and other extensions of credit, as well as the related
effectiveness of most of the covenants binding on AIG, Chartis and
certain of their subsidiaries, are subject to the satisfaction by
AIG or Chartis, as the case may be, of certain conditions, which
must be satisfied no later than March 31, 2011.  These conditions
include, among other things, repayment of all amounts owing under
the Credit Agreement, dated as of September 22, 2008, with the
Federal Reserve Bank of New York, termination of the FRBNY Credit
Facility and release of all liens under the Guarantee and Pledge
Agreement, dated as of September 22, 2008 between AIG, certain
subsidiaries of AIG and the FRBNY.

The New Agreements require AIG or Chartis to maintain a specified
minimum net worth and in the case of Chartis, a minimum statutory
surplus, and subject AIG to a limit on total debt, in each case
subject to the limitations and exceptions contained in the
relevant agreement.  In addition, the New Agreements contain
certain customary affirmative and negative covenants, including
limitations with respect to incurrence of certain types of
indebtedness or liens, certain dispositions, entry into certain
restrictive agreements and transactions with affiliates, and
certain fundamental changes.

Amounts due under the New Agreements may be accelerated upon an
"event of default," as defined in the New Agreements, such as
failure to pay amounts owed thereunder when due, breach of a
covenant, material inaccuracy of a representation or occurrence of
bankruptcy, subject to cure periods and if not otherwise waived.

The lenders and the agents under the New Agreements have in the
past provided, and may in the future provide, investment banking,
underwriting, lending, commercial banking, trust and other
advisory services to AIG, its subsidiaries or affiliates.  These
parties have received, and may in the future receive, customary
compensation from AIG or its subsidiaries or affiliates for such
services.

A full-text copy of the Three-Year Credit Agreement, dated as of
December 23, 2010, is available for free at:

               http://ResearchArchives.com/t/s?717e

A full-text copy of the 364-Day Credit Agreement, dated as of
December 23, 2010, is available for free at:

               http://ResearchArchives.com/t/s?717f

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.


ANTHONY SEALY: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Anthony Sealy
        25 Parmelee Avenue
        New Haven, CT 06511

Bankruptcy Case No.: 10-33801

Chapter 11 Petition Date: December 23, 2010

Court: U.S. Bankruptcy Court
       District of Connecticut (New Haven)

Judge: Lorraine Murphy Weil

Debtor's Counsel: Peter L. Ressler, Esq.
                  GROOB RESSLER & MULQUEEN
                  123 York Street, Suite 1B
                  New Haven, CT 06511-0001
                  Tel: (203) 777-5741
                  Fax: (203) 777-4206
                  E-mail: ressmul@yahoo.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/ctb10-33801.pdf


ART-EXCHANGE.COM, INC.: Case Summary & Creditors List
-----------------------------------------------------
Debtor: Art-Exchange.com, Inc.
        804 Central Avenue
        Hot Springs, AR 71901

Bankruptcy Case No.: 10-76591

Chapter 11 Petition Date: December 22, 2010

Court: U.S. Bankruptcy Court
       Western District of Arkansas (Hot Springs)

Judge: Richard D. Taylor

Debtor's Counsel: James E. Smith, Jr., Esq.
                  SMITH AKINS, P.A.
                  400 W. Capitol Avenue, Suite 1700
                  Little Rock, AR 72201
                  Tel: (501) 537-5111
                  Fax: (501) 537-5113
                  E-mail: jsmith@smithakins.com

Estimated Assets: $50,001 to $100,000

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/arwb10-76591.pdf

The petition was signed by Richard Gipe, president.


BEACON CAPITAL: To Sell Properties Under Loan Modification Deal
---------------------------------------------------------------
The Wall Street Journal's Eliot Brown reports that Boston, Mass.-
based Beacon Capital Partners is planning to sell its most
valuable asset in a 20-property portfolio of office buildings in
Washington, D.C. and Seattle.

The Journal relates a person familiar with the company's plans
said Beacon expects to start marketing the 678,000-square-foot
Market Square property in January.

The Journal says the decision comes as an agreement reached
earlier this month between Beacon and lenders on the loan
encourages the company to shed properties to pay down debt,
according to a summary of the modification terms provided to
investors.

According to the Journal, the loan modification reached with
special servicer C-III Asset Management came as the portfolio was
barely generating enough cash to cover debt payments.  The
servicer, acting on behalf of the investors in the mortgage, which
was converted into commercial mortgage backed securities, gave
Beacon a five-year extension on the loan's maturity to 2017 and
agreed to temporarily lower interest payments.

In turn, the Journal continues, the terms push Beacon to pay down
debt by at least $900 million through sales or refinancings.  The
summary presented to investors says the firm "shall begin a series
of individual asset sales in order to commence the deleveraging of
the loan in advance of its original maturity date."


BERNARD L MADOFF: Accountant Sues US Marshals Over Forfeitures
--------------------------------------------------------------
The Associated Press reports an accountant who once worked for the
U.S. Marshals Service sued the agency last month in federal court
in Manhattan, alleging that an employee of the service did a
shoddy job handling forfeitures including some investments related
to the Bernard Madoff fraud.  According to the AP, the suit
alleges that a man overseeing the sale of assets undervalued
millions of dollars in assets, selling them without public notice
or competitive bidding.  A message left Monday with a spokesman
from the office was not immediately returned.

                       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 from lawsuits or settlements.


BERNARD L MADOFF: Picard Sues Colorado Entities
-----------------------------------------------
Rick Carroll, Aspen correspondent for the Glenwood Springs Post
Independent in Colorado, reports that bankruptcy trustee Irving
Picard earlier this month sued six local victims of Bernard Madoff
in the U.S. Bankruptcy Court in Manhattan for allegedly pocketing
"other people's money" produced by the Ponzi scheme.

Acccording to Post Independent, among the local Madoff victims who
are being sued are:

     -- Aspen Fine Arts Co., controlled by Aspen resident Melvin
        Knyper, which allegedly received "$4,485,00 of other
        people's money."

     -- Edward Calesa in Basalt, who allegedly received $3,122,793
        of "fictitious profits from the Ponzi scheme."

     -- Stephen Goldenberg in Aspen, who allegedly brought in
        $4 million that Picard wants returned.

     -- Jillian Wernick Livingston in Snowmass Village, who
        allegedly earned $578,737 in excess profits.

     -- Richard Poland in Aspen, who allegedly received
        $1,359,000.

     -- Harold Thau - Thau, the manager for the late John Denver,
        ran The Aspen Co., which generated $1,957,000 that
        Mr. Picard is trying to recoup.

According to the report, not all of the victims could be reached
for comment.  Those who were contacted declined comment or did not
respond to messages.

The report also notes Manhattan attorney Brian Neville, Esq. --
bneville@laxneville.com -- at Lax & Neville LLP, represents more
than 100 Madoff victims being sued by Mr. Picard.  In a telephone
interview Friday, Mr. Neville said the suits lack merit, according
to the report.

                       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 from lawsuits or settlements.


BIOFUEL ENERGY: David Horn Has 39.8% Equity Stake
-------------------------------------------------
In an amended Schedule 13D filing with the Securities and Exchange
Commission on December 17, 2010, David Einhorn disclosed that he
beneficially owns 11,853,500 shares of common stock of Biofuel
Energy Corp. representing 39.8% of the shares outstanding.  The
number of shares of common stock outstanding as of November 8,
2010 was 25,465,728 exclusive of 809,606 shares held in treasury.

Other affiliates of David Horn also disclosed beneficial ownership
of shares:

                                             Shares       Equity
                                      Beneficially Owned  Stake
                                      ------------------  ------
Greenlight Capital, LLC                   4,460,196      15.0%
Greenlight Capital, Inc.                  5,221,530      20.5%
Greenlight Capital, L.P.                    924,062       3.1%
Greenlight Capital Qualified, L.P.        3,536,134      11.9%
Greenlight Capital Offshore Partners      5,221,530      20.5%
DME Advisors GP, LLC                      2,171,774       7.3%
DME Advisors, L.P.                        1,447,443       5.7%

On December 14, 2010, the Reporting Persons entered into an
Amended and Restated Rights Offering Letter Agreement with
Biofuel Energy Corp., the LLC, Third Point Loan LLC and Third
Point Advisors, LLC, which amends and restates the Rights Offering
Letter Agreement described in Amendment No. 2 and Amendment No. 3
and filed by the Company as Exhibit 10.2 on its Form 8-K, which
was filed with the Commission on September 27, 2010.

The A&R ROLA amends, among other things, certain obligations of
the parties thereto with respect to a registered offering of
rights to purchase depositary shares, each representing a
fractional interest in a share of Series A Non-Voting Convertible
Preferred Stock of the Company.  The Company has filed a
Registration Statement on Form S-1 for the Rights Offering with
the Commission.

Under the A&R ROLA, the Company would distribute non-transferable
subscription rights to purchase Depository Shares pro rata to each
of the Company's record holders of Common Stock.  Each Depositary
Share would represent a fractional interest in a share of Series A
Non-Voting Convertible Preferred Stock and would entitle the
holder to a proportional fractional interest in the rights and
preferences of such share of Series A Non-Voting Convertible
Preferred Stock, including conversion, dividend, liquidation and
voting rights.  Pursuant to the A&R ROLA, each share of Series A
Non-Voting Convertible Preferred Stock would, following the
approval by the holders of Common Stock and Class B Common Stock
of the authorization and issuance of additional shares of Common
Stock, automatically convert into that number of shares of Common
Stock equal to the quotient obtained by dividing the total number
of Depository Shares actually purchased in the Rights Offering and
pursuant to the Backstop Commitment (as defined in the A&R ROLA)
by 2,000,000.

Upon conversion of the Series A Non-Voting Convertible Preferred
Stock, each Depositary Share would entitle the holder thereof to
receive one share of Common Stock and, upon the distribution of
one share of Common Stock to the holder of each such Depositary
Share, each such Depositary Share would be automatically cancelled
and have no further value.

Concurrent with the Rights Offering, the A&R ROLA provides that
the LLC would conduct a private placement of a new class of
preferred membership interests in the LLC.  Under the A&R ROLA,
the LLC's concurrent private placement is structured so as to
provide the holders of Common Membership Interests with a private
placement that is economically equivalent to the Rights Offering,
as described in more detail in the A&R ROLA.

In addition, certain Reporting Persons, Third Point Loan LLC and
Third Point Advisors, LLC have agreed, pursuant to the A&R ROLA
and subject to certain conditions and possible reductions, to
purchase Depositary Shares in an amount equal to their full pro
rata subscription in the Rights Offering, to participate for their
full pro rata privileges to purchase preferred membership
interests in the LLC's concurrent private placement and to
purchase immediately prior to expiration of the Rights Offering
all of the available Depositary Shares not otherwise sold in the
Rights Offering and to purchase all of the available preferred
membership interests in the LLC not otherwise sold in the LLC's
concurrent private placement.

Notwithstanding the foregoing, the A&R ROLA provides that the
number of Depository Shares and preferred membership interests
that the Backstop Parties would otherwise be required to purchase
may be reduced in certain circumstances.  In the event the number
of Depository Shares that the Backstop Parties would otherwise be
required to purchase is reduced, the Backstop Parties could
instead purchase Class B Preferred Membership Interests in the
LLC, the terms of which are set forth in the A&R ROLA.

The A&R ROLA provides that the proceeds of the Rights Offering,
the LLC's concurrent private placement and the Backstop Commitment
be used:

   (i) to repay all amounts owed under the Loan Agreement, dated
       September 24, 2010, among the Company, the Reporting
       Persons and Third Point Loan LLC;

  (ii) to repay all amounts owed under the Mezzanine Loan
       Agreement;

(iii) to make the Cargill Payment; and

  (iv) to pay certain fees and expenses incurred in connection
       with the Rights Offering and the LLC's concurrent private
       placement.

In connection with the Rights Offering and the Concurrent Private
Placement, the Company and the Backstop Parties entered into an
Amended and Restated Registration Rights Agreement on December 15,
2010 that provides registration rights, under certain
circumstances and subject to certain restrictions set forth
therein, with respect to, among other things, certain shares of
Common Stock and Common Membership Interests acquired in
connection with the Rights Offering and the LLC's concurrent
private placement and certain warrants that may be issued if the
Bridge Loan is not paid in full on or prior to March 24, 2011.
Such registration rights would be in addition to the registration
rights currently held by the Backstop Parties for shares of Common
Stock currently held by them and for shares of Common Stock
issuable upon exchange of Common Membership Interests currently
held by the Backstop Parties.

The Reporting Persons and the Issuer also entered into an Amended
and Restated Voting Agreement on December 14, 2010 in connection
with the A&R ROLA.  The A&R Voting Agreement requires, among other
things, that the Reporting Persons cast their votes:

   (a) in favor of at least two directors that are not affiliated
       with, or employed by, and are otherwise independent of, the
       Reporting Persons; and

   (b) in favor of certain proposals intended to facilitate the
       consummation of the transactions contemplated by the A&R
       ROLA for which the Company will seek stockholder approval
       at a meeting of the Company's stockholders, as set forth in
       the Company's Preliminary Proxy Statement filed with the
       Commission on November 15, 2010, including, but not limited
       to, a proposal to amend the Company's Amended and Restated
       Certificate of Incorporation to increase the number of
       authorized but unissued shares of Common Stock from
       100,000,000 to 140,000,000 and Class B Common Stock from
       50,000,000 to 75,000,000.

                        About Biofuel Energy

Denver, Colo.-based BioFuel Energy Corp. (Nasdaq: BIOF)
-- http://www.bfenergy.com/-- aims to become a leading ethanol
producer in the United States by acquiring, developing, owning and
operating ethanol production facilities.  It currently has two
115 million gallons per year ethanol plants in the Midwestern corn
belt.

The Company's balance sheet at September 30, 2010, showed
$329.7 million in total assets, $274.6 million in total
liabilities, and stockholders' equity of $55.1 million.

As reported in the Troubled Company Reporter on March 31, 2010,
Grant Thornton LLP, in Denver, expressed substantial doubt about
the Company's ability to continue as a going concern, following
its 2009 results.  The independent auditors noted that the Company
has experienced declining liquidity and has $16.5 million of
outstanding working capital loans that mature in September 2010.

"If we are unable to raise sufficient proceeds from the rights
offering, the LLC's concurrent private placement, or from other
sources, we may be unable to continue as a going concern, which
could potentially force us to seek relief through a filing under
the U.S. Bankruptcy Code," the Company said in its Form 10-Q for
the third quarter of 2010.


BIOFUEL ENERGY: Third Point Entities Have 22.8% Equity Stake
------------------------------------------------------------
In an amended Schedule 13D filing with the Securities and Exchange
Commission on December 20, 2010, Third Point LLC disclosed that it
beneficially owns 5,578,800 shares of of BioFuel Energy Corp.
common stock representing 21.9% of the shares outstanding.  As of
November 8, 2010, there were 25,465,728 shares of common stock
outstanding exclusive of 809,606 shares held in treasury.

Other affiliates of Third Point LLC also disclosed beneficial
ownership of shares:

                                          Shares         Equity
                                    Beneficially Owned   Stake
                                    ------------------   ------
Daniel S. Loeb                          5,803,284        22.8%
Third Point Partners LP                 2,867,782        11.3%
Third Point Partners Qualified LP       1,808,018         7.1%

On December 14, 2010, Third Point Loan LLC and Third Point
Advisors, LLC, affiliates of the Reporting Persons, entered into
an Amended and Restated Rights Offering Letter Agreement with the
Company, BioFuel Energy LLC, a subsidiary of the Company, and
certain other stockholders of the Company, each of which is
affiliated with Greenlight Capital, L.L.C., which amends and
restates the Rights Offering Letter described in Amendment No. 3
and filed by the Company as Exhibit 10.2 on its Form 8-K, which
was filed with the Commission on September 27, 2010.  The A&R ROLA
amends, among other things, certain obligations of the parties
thereto with respect to a registered offering of rights to
purchase depositary shares, each representing a fractional
interest in a share of Series A Non-Voting Convertible Preferred
Stock of the Company.  The Company has filed a Registration
Statement on Form S-1 for the Rights Offering with the Commission.

Under the A&R ROLA, the Company would distribute non-transferable
subscription rights to purchase Depository Shares pro rata to each
of the Company's record holders of Common Stock.  Each Depositary
Share would represent a fractional interest in a share of Series A
Non-Voting Convertible Preferred Stock and would entitle the
holder to a proportional fractional interest in the rights and
preferences of such share of Series A Non-Voting Convertible
Preferred Stock, including conversion, dividend, liquidation and
voting rights.  Pursuant to the A&R ROLA, each share of Series A
Non-Voting Convertible Preferred Stock would, following the
approval by the holders of Common Stock and Class B Common Stock,
par value $0.01 per share, of the authorization and issuance of
additional shares of Common Stock, automatically convert into that
number of shares of Common Stock equal to the quotient obtained by
dividing the total number of Depository Shares actually purchased
in the Rights Offering and pursuant to the Backstop Commitment by
2,000,000.

Upon conversion of the Series A Non-Voting Convertible Preferred
Stock, each Depositary Share would entitle the holder thereof to
receive one share of Common Stock and, upon the distribution of
one share of Common Stock to the holder of each such Depositary
Share, each such Depositary Share would be automatically cancelled
and have no further value.

Concurrent with the Rights Offering, the A&R ROLA provides that
the LLC would conduct a private placement of a new class of
preferred membership interests in the LLC.  Under the A&R ROLA,
the LLC's concurrent private placement is structured so as to
provide the holders of  membership interests in the LLC with a
private placement that is economically equivalent to the Rights
Offering, as described in more detail in the A&R ROLA.

In addition, Third Point Loan and Greenlight have agreed, pursuant
to the A&R ROLA and subject to certain conditions and possible
reductions, to purchase Depositary Shares in an amount equal to
their full pro rata subscription in the Rights Offering, to
participate for their full pro rata privileges to purchase
preferred membership interests in the LLC's concurrent private
placement and to purchase immediately prior to expiration of the
Rights Offering all of the available Depositary Shares not
otherwise sold in the Rights Offering and to purchase all of the
available preferred membership interests in the LLC not otherwise
sold in the LLC's concurrent private placement.  Notwithstanding
the foregoing, the A&R ROLA provides that the number of Depository
Shares and preferred membership interests that the Backstop
Parties would otherwise be required to purchase pursuant to the
preceding sentence may be reduced in certain circumstances.  In
the event the number of Depository Shares that the Backstop
Parties would otherwise be required to purchase is reduced, the
Backstop Parties could instead purchase Class B Preferred
Membership Interests in the LLC, the terms of which are set forth
in the A&R ROLA.

The A&R ROLA provides that the proceeds of the Rights Offering,
the LLC's concurrent private placement and the Backstop Commitment
be used (i) to repay all amounts owed under the Loan Agreement,
dated September 24, 2010, among the Issuer, Third Point Loan and
Greenlight; (ii) to repay all amounts owed under the Mezzanine
Loan Agreement; (iii) to make the Cargill Payment; and (iv) to pay
certain fees and expenses incurred in connection with the Rights
Offering and the LLC's concurrent private placement.

In connection with the Rights Offering and the Concurrent Private
Placement, the Company, Greenlight, Third Point Partners, Third
Point Partners Qualified and Third Point Loan entered into an
Amended and Restated Registration Rights Agreement on December 15,
2010 that provides registration rights, under certain
circumstances and subject to certain restrictions set forth
therein, with respect to, among other things, certain shares of
Common Stock and Common Membership Interests acquired in
connection with the Rights Offering and the LLC's concurrent
private placement and certain warrants that may be issued if the
Bridge Loan is not paid in full on or prior to March 24, 2011.
Such registration rights would be in addition to the registration
rights currently held by certain of the Reporting Persons and
Third Point Loan for shares of Common Stock currently held by them
and for shares of Common Stock issuable upon exchange of Common
Membership Interests currently held by the Backstop Parties.

Third Point Loan and the Company also entered into an Amended and
Restated Voting Agreement on December 14, 2010 in connection with
the A&R ROLA.  The A&R Voting Agreement requires, among other
things, that Third Point Loan cast its votes in favor of certain
proposals intended to facilitate the consummation of the
transactions contemplated by the A&R ROLA for which the Company
will seek stockholder approval at a meeting of the Company's
stockholders, as set forth in the Company's Preliminary Proxy
Statement filed with the Commission on November 15, 2010,
including, but not limited to, a proposal to amend the Company's
Amended and Restated Certificate of Incorporation to increase the
number of authorized but unissued shares of Common Stock from
100,000,000 to 140,000,000 and Class B Common Stock from
50,000,000 to 75,000,000.

                       About Biofuel Energy

Denver, Colo.-based BioFuel Energy Corp. (Nasdaq: BIOF)
-- http://www.bfenergy.com/-- aims to become a leading ethanol
producer in the United States by acquiring, developing, owning and
operating ethanol production facilities.  It currently has two
115 million gallons per year ethanol plants in the Midwestern corn
belt.

The Company's balance sheet at September 30, 2010, showed
$329.7 million in total assets, $274.6 million in total
liabilities, and stockholders' equity of $55.1 million.

As reported in the Troubled Company Reporter on March 31, 2010,
Grant Thornton LLP, in Denver, expressed substantial doubt about
the Company's ability to continue as a going concern, following
its 2009 results.  The independent auditors noted that the Company
has experienced declining liquidity and has $16.5 million of
outstanding working capital loans that mature in September 2010.

"If we are unable to raise sufficient proceeds from the rights
offering, the LLC's concurrent private placement, or from other
sources, we may be unable to continue as a going concern, which
could potentially force us to seek relief through a filing under
the U.S. Bankruptcy Code," the Company said in its Form 10-Q for
the third quarter of 2010.


BLOCKBUSTER INC: Gets 45-Day Extension of Challenge Period
----------------------------------------------------------
The final order allowing Blockbuster Inc. to obtain $125 million
in debtor-in-possession financing provides the Official Committee
of Unsecured Creditors with 60 days following entry of the Final
Order to commence "an adversary proceeding challenging the amount,
validity, or enforceability of the Senior Secured Obligations, or
the perfection or priority of the Prepetition Security Interests
in the Prepetition Collateral in respect thereof, or otherwise
asserting any claims or causes of action on behalf of the Debtors'
estates against the Senior Indenture Trustee or the Senior Secured
Noteholders relating to the Senior Secured Obligations."

The Challenge Period is set to expire on December 27, 2010.

Against this backdrop, the Creditors Committee asked the Court for
a 45-day extension of the Challenge Period through and including
February 9, 2011.

More than half of the prescribed Challenge Period has passed and
the Creditors Committee has yet to receive any responsive
documents from "investigation parties" composed of the Debtors,
the DIP Agent, the Senior Indenture Trustee, the Backstop Lenders,
and Carl Icahn, Richard S. Kanowitz, Esq., at Cooley LLP, in New
York, tells the Court.  To date, he says, the Creditors
Committee's review has been limited to documents previously
provided by the Debtors in their virtual data room, which are not
specifically tailored to the Creditors Committee's investigative
efforts, and those documents available in the public domain.

While counsel to each of the Investigation Parties have pledged to
work cooperatively with the Creditors Committee to provide prompt
access to the documents and information needed to perform a
complete investigation of the Senior Secured Noteholders relating
to the Senior Secured Obligations, it has become abundantly clear
that the Creditors Committee and Investigation Parties maintain
different views on (i) what constitutes prompt cooperation, and
(ii) which claims and causes of action would be foreclosed from
further review upon expiration of the Challenge Period, Mr.
Kanowitz argues.

With 25 days left until expiration of the Challenge Period, the
Creditors Committee has yet to receive any documents or
information, yet to be in a position to schedule any depositions
and yet to be provided with any time to review and consider
adduced information in order to decide whether filing an
appropriate motion for standing to pursue a challenge is an
intelligent use of the estates' resources, Mr. Kanowitz contends.
He adds that the Debtors have yet to file their plan of
reorganization and disclosure statement, or provide the Creditors
Committee with the corresponding business plan for its analysis.

The delayed filing of the Plan, Disclosure Statement and Business
Plan serve as further support for the requested extension, as the
brevity of the Challenge Period was initially tied to the
expedited filing requirements of the Plan milestones in the DIP
Credit Agreement, Mr. Kanowitz asserts.

The Creditors Committee also asks the Court to confirm that the
sought extension does not constitute a "Roll-Up Event" under the
Final DIP Order, which would result in a $125 million windfall to
the DIP Lenders, to ensure that the extension does not prejudice
the estates by unintentionally triggering a substantial rollup of
the DIP Lenders' prepetition indebtedness.

A Roll-Up Event occurs upon, inter alia, the date a Carve-Out
Trigger Notice is delivered, which notice may be delivered upon
the occurrence of a Termination Event.  A Termination Event may
occur upon, inter alia, (i) the date upon which any provision of
the Final DIP Order will cease to be valid and binding, or
(ii) the date of any occurrence of an Event of Default under the
DIP Loan Documents.  One of the Events of Default is the entry of
an order amending, supplementing, staying, vacating, rescinding or
otherwise modifying the Final DIP Order without the written
consent of the DIP Lenders.

The Creditors Committee submits that entry of an order
(i) providing a 45-day extension of the Challenge Period, and
(ii) confirming that the extension does not constitute a Roll-Up
Event under the DIP Credit Agreement and Final DIP Order, is
reasonable and justified at this time.

                           *     *     *

Bankruptcy Judge Burton Lifland extended through and including:

  (a) December 27, 2010, the period for the Official Committee
      of Unsecured Creditors to challenge the amount, validity
      or enforceability of the Senior Secured Obligations, or
      the perfection or priority of the Prepetition Security
      Interests in the Prepetition Collateral, or otherwise
      assert any claims or causes of action on behalf of the
      Debtors' bankruptcy estates against the Senior Indenture
      Trustee or the Senior Secured Noteholders relating to the
      Senior Secured Obligations; and

  (b) February 1, 2011, the Creditors Committee's Challenge
      Period to assert claims or causes of action on behalf of
      the estates against the Senior Indenture Trustee or the
      Senior Secured Noteholders relating to the Senior Secured
      Obligations solely pursuant to Sections 544(b) and 548 of
      the Bankruptcy Code, provided that nothing in the Order
      will prejudice the Creditors Committee's:

      * right to seek any remedies with respect to any
        successful challenge against the Senior Indenture
        Trustee or the Senior Secured Noteholders relating to
        the Senior Secured Obligations; or

      * ability to seek further extension to the Challenge
        Period, and any parties' ability to oppose any request,
        solely with respect to those causes of actions
        specifically described in the Order, if necessary, upon
        notice and hearing to the Investigation Parties or upon
        written consent of the Investigation Parties.

                       About Blockbuster Inc.

Based in Dallas, Texas, Blockbuster Inc. (Pink Sheets: BLOKA,
BLOKB) -- http://www.blockbuster.com/-- is a global provider of
rental and retail movie and game entertainment.  It has a library
of more than 125,000 movie and game titles.  Blockbuster said it
had assets of $1,017,035,832 and debts of $1,464,939,759 as of
August 1, 2010.

Blockbuster Inc. and 12 U.S. affiliates initiated Chapter 11
bankruptcy proceedings with a pre-arranged reorganization plan
in Manhattan on September 23, 2010 (Bankr. S.D.N.Y. Case No.
10-14997).

Martin A Sosland, Esq., and Stephen Karotkin, Esq., at Weil,
Gotshal & Manges, serve as counsel to the Debtors.  Rothschild
Inc. is the financial advisor.  Alvarez & Marsal is the
restructuring advisor with A&M managing director Jeffery J.
Stegenga as chief restructuring officer.  Kurtzman Carson
Consultants LLC is the claims and notice agent.

A steering group of senior secured noteholders is represented by
James P. Seery, Esq., and Paul S. Caruso, Esq., at Sidley Austin
LLP.  U.S. Bank National Association as trustee and collateral
agent for the senior secured notes is represented by David
McCarty, Esq., and Kyle Mathews, Esq., at Sheppard Mullin Richter
& Hampton LLP.  BDO Consulting is the financial advisor for U.S.
Bank.

Lenders led by Wilmington Trust FSB are providing the DIP
financing.  The DIP Agent is represented by Peter Neckles, Esq.
and Alexandra Margolis, Esq., at Skadden, Arps, Slate, Meagher &
Flom LLP, in New York.

The Official Committee of Unsecured Creditors has retained Cooley
LLP as its counsel.

Blockbuster's non-U.S. operations and its domestic and
international franchisees, all of which are legally separate
entities, were not included in the filings and are not parties to
the Chapter 11 proceedings.

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


BLOCKBUSTER INC: Gets Nod to Assume Nat'l Union Insurance Pacts
---------------------------------------------------------------
Blockbuster Inc. and its 11 debtor-affiliates received authority
from the United States Bankruptcy Court for the Southern District
of New York to:

  (a) assume certain insurance agreements between them and
      National Union Fire Insurance Company of Pittsburgh, Pa.,
      on behalf of itself and certain related insurance
      companies, in their entirety, spanning the period from
      September 30, 1999, through September 30, 2010; and

  (b) enter into renewals of certain insurance policies with the
      Insurers.

As previously reported, the Debtors are required to maintain
certain insurance programs in connection with the operation of
their business.  From September 30, 1999, until September 30,
2010, National Union provided the Debtors with certain workers'
compensation, including employers' liability, general liability
and automobile liability insurance coverages pursuant to a series
of policies.

The Policies are governed by certain indemnity and payment
agreements, as well as any related endorsements, schedules,
addendum and other documents.  The Insurance Program Agreements
are an integral part of the Debtors' Insurance Program.

As security for the Debtors' obligations under the Existing
Insurance Program, the Debtors currently have an outstanding
letter of credit, which has been fully cash collateralized, for
$24 million issued for the benefit of the Insurers.

Stephen Karotkin, Esq., at Weil, Gotshal & Manges LLP, in New
York, relates that notwithstanding extensive attempts to obtain
competing proposals, the Debtors were unable to procure a more
competitive bid from an insurance company other than National
Union.  Therefore, to ensure continued coverage during the Chapter
11 cases, the Debtors entered into the Renewal Insurance Program
with National Union to provide them with workers' compensation,
general liability and automobile liability insurance coverage for
the period September 30, 2010, through September 30, 2011.

To secure the renewal of the insurance programs, the Debtors were
required to provide an additional $4.6 million of cash security as
collateral for the benefit of the Insurers.

In compliance with the terms of the Policies, the Debtors have
paid all required premiums and now seek the Court's approval of
the Renewal Insurance Program, and authority to assume the
Existing Insurance Program and cross-collateralize the obligations
under the Existing Insurance Program with the collateral provided
as part of the Renewal Insurance Program.

                        *     *     *

The Court's order provides that the Debtors are directed to cure
all defaults and to pay their obligations under the Insurance
Program, including premium and losses, in the ordinary course of
business, in accordance with the relevant terms of the Insurance
Program, without further Court order.

In the event of a default by the Debtors under the Insurance
Program, Insurers may exercise all contractual rights in
accordance with the terms of the Insurance Program and applicable
state law, without further Court order, Judge Burton Lifland
maintained.  He added that the automatic stay will be deemed
lifted to the extent necessary for Insurers to exercise those
rights, without further Court order.

The reimbursement obligations and any other obligations under the
Insurance Program will be administrative obligations entitled to
priority under Section 503(b) of the Bankruptcy Code.  Because
the Debtors are authorized to meet their obligations under the
Insurance Program without further order of the Court, no
additional proof of claim or request for payment of administrative
expenses need be filed by Insurers.

All collateral or security held at this time by Insurers and all
prior payments to Insurers under the Insurance Program are
approved and are unavoidable transfers under the Bankruptcy Code
and applicable state law.  Insurers are authorized to retain and
use the collateral or security, any additional or replacement
collateral or security, and any prior or future payment that may
be provided to Insurers, and any collateral adjustments will
continue to occur, in accordance with the Insurance Program's
terms.

Insurers may adjust, settle and pay insured claims, utilize funds
provided for that purpose, and otherwise carry out the terms and
conditions of the Insurance Program, without further Court order,
provided that nothing in the order will be deemed to grant relief
from the stay to a non-workers' compensation claimant to pursue
any claim in a non-bankruptcy court.

The Insurance Program may not be altered by any plan of
reorganization filed or confirmation order entered in the cases
and will survive any plan filed by the Debtors.  Nothing in any
plan confirmed in the cases will impair the interests of the
Insurers in the collateral that they hold.  The Debtors' rights
against all collateral held by the Insurers will be governed by
the terms of the Insurance Program and the related security
documentation, and the Debtors will not take any action against
the Insurers in the Bankruptcy Court that is inconsistent with the
terms of those documentation.

Estimation of the Insurers' claim under Section 502(c) will not be
authorized as a basis to require the Insurers to return any part
of the security they now hold for the Insurance Program, and
during the pendency of the cases, the Insurers will not be
required, except as otherwise provided in the underlying
contracts, to return any part of the security they now hold for
the Insurance Program without adequate protection for the interest
in the security to be returned pursuant to Section 361(1) of the
Bankruptcy Code.

The Insurers may seek to estimate their unsecured administrative
claim in the event the estate of the Debtors is to be or has been
liquidated and dispersed.

                       About Blockbuster Inc.

Based in Dallas, Texas, Blockbuster Inc. (Pink Sheets: BLOKA,
BLOKB) -- http://www.blockbuster.com/-- is a global provider of
rental and retail movie and game entertainment.  It has a library
of more than 125,000 movie and game titles.  Blockbuster said it
had assets of $1,017,035,832 and debts of $1,464,939,759 as of
August 1, 2010.

Blockbuster Inc. and 12 U.S. affiliates initiated Chapter 11
bankruptcy proceedings with a pre-arranged reorganization plan
in Manhattan on September 23, 2010 (Bankr. S.D.N.Y. Case No.
10-14997).

Martin A Sosland, Esq., and Stephen Karotkin, Esq., at Weil,
Gotshal & Manges, serve as counsel to the Debtors.  Rothschild
Inc. is the financial advisor.  Alvarez & Marsal is the
restructuring advisor with A&M managing director Jeffery J.
Stegenga as chief restructuring officer.  Kurtzman Carson
Consultants LLC is the claims and notice agent.

A steering group of senior secured noteholders is represented by
James P. Seery, Esq., and Paul S. Caruso, Esq., at Sidley Austin
LLP.  U.S. Bank National Association as trustee and collateral
agent for the senior secured notes is represented by David
McCarty, Esq., and Kyle Mathews, Esq., at Sheppard Mullin Richter
& Hampton LLP.  BDO Consulting is the financial advisor for U.S.
Bank.

Lenders led by Wilmington Trust FSB are providing the DIP
financing.  The DIP Agent is represented by Peter Neckles, Esq.
and Alexandra Margolis, Esq., at Skadden, Arps, Slate, Meagher &
Flom LLP, in New York.

The Official Committee of Unsecured Creditors has retained Cooley
LLP as its counsel.

Blockbuster's non-U.S. operations and its domestic and
international franchisees, all of which are legally separate
entities, were not included in the filings and are not parties to
the Chapter 11 proceedings.

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


BLOCKBUSTER INC: Wants Until April 21 to Decide on Leases
---------------------------------------------------------
Pursuant to Section 365(d)(4) of the Bankruptcy Code, all
nonresidential real property leases under which Blockbuster Inc.
or an affiliate is a lessee will be deemed rejected, unless (i)
the Unexpired Leases are assumed on or prior to January 21, 2010,
(ii) the Unexpired Leases are rejected on or prior to January 21,
2010, or (iii) the time within which the Debtors may decide to
assume or reject the Unexpired Leases is extended pursuant to
Section 365(d)(4).

By this motion, the Debtors ask the Court to extend the period
within which they may assume or reject all Unexpired Leases,
through and including April 21, 2011, without prejudice to their
rights to seek further extensions of the Lease Decision Deadline
with the consent of the affected landlords, as contemplated by
Section 365(d)(4)(B)(ii).

Stephen Karotkin, Esq., at Weil, Gotshal & Manges LLP, in New
York, tells the Court that the Debtors are making timely payments
for the use of the premises associated with the Unexpired Leases,
and are continuing to perform their other obligations under the
Unexpired Leases in a timely fashion, to the extent required by
Section 365(d)(3).

Mr. Karotkin asserts that there is no reason why the proposed
extension could or would damage the lessors that are party to the
Unexpired Leases in an amount beyond the compensation as is
available to the lessors under the Bankruptcy Code.  Pending the
Debtors' election to assume or reject the Unexpired Leases, the
Debtors will continue to perform all of their undisputed
obligations arising after the Petition Date, including the payment
of postpetition rent in a timely fashion, he explains.

The Debtors' leasehold interests are significant assets related to
their business operations, Mr. Karotkin says.  He points out that
their established retail footprint of "bricks and mortar" stores
throughout the United States of America is one of the most
important features of their brand and business.  He adds that the
Debtors' hub of distribution centers along with their bricks and
mortar footprint for in-store exchanges are key to the efficient
storage and delivery of movies and games to their by-mail
customers.

Although the Debtors have sought to expeditiously reject
approximately 290 burdensome store leases since the Petition Date,
the Debtors require additional time to analyze their Unexpired
Leases so as to facilitate a determination of what the footprint
of the Debtors' retail store channel will be upon exit from
Chapter 11, Mr. Karotkin argues.  He adds that in view of the
posture of the Chapter 11 cases, it would not be prudent for the
Debtors to make any determinations concerning the assumption or
rejection of the Unexpired Leases on or before January 21, 2010.

Against this backdrop, the Debtors believe that cause exists for
the Court to extend the time within which the Debtors may assume
or reject any of the Unexpired Leases.

A hearing will be held on January 11, 2011, to consider the
request.  Objections are due on January 3.

                       About Blockbuster Inc.

Based in Dallas, Texas, Blockbuster Inc. (Pink Sheets: BLOKA,
BLOKB) -- http://www.blockbuster.com/-- is a global provider of
rental and retail movie and game entertainment.  It has a library
of more than 125,000 movie and game titles.  Blockbuster said it
had assets of $1,017,035,832 and debts of $1,464,939,759 as of
August 1, 2010.

Blockbuster Inc. and 12 U.S. affiliates initiated Chapter 11
bankruptcy proceedings with a pre-arranged reorganization plan
in Manhattan on September 23, 2010 (Bankr. S.D.N.Y. Case No.
10-14997).

Martin A Sosland, Esq., and Stephen Karotkin, Esq., at Weil,
Gotshal & Manges, serve as counsel to the Debtors.  Rothschild
Inc. is the financial advisor.  Alvarez & Marsal is the
restructuring advisor with A&M managing director Jeffery J.
Stegenga as chief restructuring officer.  Kurtzman Carson
Consultants LLC is the claims and notice agent.

A steering group of senior secured noteholders is represented by
James P. Seery, Esq., and Paul S. Caruso, Esq., at Sidley Austin
LLP.  U.S. Bank National Association as trustee and collateral
agent for the senior secured notes is represented by David
McCarty, Esq., and Kyle Mathews, Esq., at Sheppard Mullin Richter
& Hampton LLP.  BDO Consulting is the financial advisor for U.S.
Bank.

Lenders led by Wilmington Trust FSB are providing the DIP
financing.  The DIP Agent is represented by Peter Neckles, Esq.
and Alexandra Margolis, Esq., at Skadden, Arps, Slate, Meagher &
Flom LLP, in New York.

The Official Committee of Unsecured Creditors has retained Cooley
LLP as its counsel.

Blockbuster's non-U.S. operations and its domestic and
international franchisees, all of which are legally separate
entities, were not included in the filings and are not parties to
the Chapter 11 proceedings.

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


BLUEKNIGHT ENERGY: MSD Affirms Stand Against Restructuring Deal
---------------------------------------------------------------
MSD Capital, L.P., on December 21, 2010, received a written
response to their letter dated December 16, 2010, from James C.
Dyer, IV, the Chief Executive Officer of Blueknight Energy
Partners G.P., L.L.C., the general partner to Blueknight Energy
Partners, L.P.  Mr. Dyer expressed that the General Partner
continues to review and assess possible modifications to the
Global Transaction Agreement.

On December 23, 2010, MSD sent a written response to Mr. Dyer's
letter, reiterating the conclusions expressed in its prior letter
about the unfairness and inappropriateness of the GTA but welcomed
the General Partner's willingness to modify it.

"We continue to believe in the validity of the views expressed in
our prior letter. Of course, we have never questioned the need for
Blueknight to restructure its balance sheet," MSD Capital's Daniel
Shuchman said.  "Our concerns center around the process that led
to the current GTA and the numerous ways in which, as outlined in
our previous letter, it violates the Partnership Agreement and is
not in the best long-term interests of the Partnership.
Notwithstanding any advice that you may have received, the
proposed plan is not fair or appropriate. Blueknight can, and
should, do better."

In his December 21 reply letter to MSD Capital, Mr. Dyer said
Blueknight had a number of legacy issues from the SemGroup
bankruptcy, not the least of which were a devastating loss of
gathering and transportation revenues and a wholly unsustainable
financial structure.  "We worked diligently to negotiate a
significant equity infusion from the general partners and replace
the restrictive and costly credit facility inherited from the
SemGroup days.  I hasten to emphasize that the prior credit
facility severely limited capital expenditures and prohibited any
distributions, all while maintaining secured interests in our
assets," Mr. Dyer said.

A copy of Mr. Dyer's December 21 letter is available
at http://is.gd/jDobo

A copy of MSD Capital's December 16 letter is available
at http://is.gd/jDomN

A copy of MSD Capital's December 23 letter is available
at http://is.gd/jDovO

                   Global Transaction Agreement

On October 25, 2010, Blueknight Energy entered into a Global
Transaction Agreement with the General Partner, Vitol, and
CB-Blueknight, LLC.  The GTA outlines a series of transactions
related to the refinancing of the Partnership's existing debt and
the recapitalization of the Partnership's securities.  Generally,
these transactions are separated into three types of transactions:
(i) Phase I Transactions, (ii) Unitholder Vote Transactions and
(iii) Phase II Transactions.

Phase I transactions include the Partnership's entering into a new
credit agreement, which includes a $200 million term loan facility
and a $75 million revolving loan facility, and issuance of an
aggregate of 21,538,462 Series A Preferred Units to Vitol Holding
and CB-Blueknight for a cash purchase price of $6.50 per Preferred
Unit in a privately negotiated transaction and granting Vitol
Holding and Charlesbank Holding certain registration rights
pursuant to a Registration Rights Agreement for the resale of
Common Units issued as a result of the conversion of their
Preferred Units.

Terms of the GTA are discussed extensively in the Partnership's
Form 8-K with the Securities and Exchange Commission on October
25, a copy of which is available at http://is.gd/jDmovand in its
Form 10-Q report for the quarterly period ended September 30,
2010, a copy of which is available at http://is.gd/jDm4w

Also on October 25, CB-Blueknight, which is an affiliate of
Charlesbank Capital Partners, LLC, entered into an agreement with
Blueknight Energy Holding, Inc. -- Vitol Holding -- an affiliate
of Vitol Holding B.V., to purchase 50% of the membership interests
in the entity that controls the Partnership's general partner.
Because this is a private transaction, financial terms were not
disclosed.  The change in control was consummated November 12,
2010.

MSD Capital has disclosed that it may be deemed to beneficially
own 3,576,944 or 16.5% of the common units in the Partnership.

MSD Capital is being advised by:

          Janice V. Sharry, Esq.
          HAYNES AND BOONE, LLP
          2323 Victory Avenue, Suite 700
          Dallas, TX 75219-7673
          Telephone: (214) 651-5562
          E-mail: janice.sharry@haynesboone.com

                      About Blueknight Energy

Blueknight Energy Partners, L.P. (Pink Sheets: BKEP)
-- http://www.bkep.com/-- provides integrated terminalling,
storage, processing, gathering and transportation services for
companies engaged in the production, distribution and marketing of
crude oil and asphalt product. It provides services for the
customers, and its only inventory consists of pipeline linefill
and tank bottoms necessary to operate the assets. It has three
operating segments: crude oil terminalling and storage services,
crude oil gathering and transportation services, and asphalt
services.

The Company's balance sheet at Sept. 30, 2010, showed
$295.96 million in total assets, $444.02 million in current
liabilities, $4.69 million in long-term payable to related
parties, and a partners' deficit of $152.75 million.

                          *     *     *

PricewaterhouseCoopers LLP, in Tulsa, Okla., in its report on the
Partnership's financial statements for the year ended December 31,
2009, expressed substantial doubt about its ability to continue as
a going concern.  The independent auditors noted that the
Partnership has substantial long-term debt, a deficit in partners'
capital, and significant litigation uncertainties.


BRICOUR PROPERTIES: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Bricour Properties, Ltd.
        P.O. Box 70
        Brunswick, OH 44212

Bankruptcy Case No.: 10-55912

Chapter 11 Petition Date: December 21, 2010

Court: United States Bankruptcy Court
       Northern District of Ohio (Akron)

Judge: Marilyn Shea-Stonum

Debtor's Counsel: Robert J. Fedor, Jr., Esq.
                  ROBERT J. FEDOR, ESQ., LLC
                  2001 Crocker Rd., Suite 216
                  Westlake, OH 44145
                  Tel: (440) 250-9709
                  Fax: (440) 250-9714
                  E-mail: rjfedor@fedortax.com

Scheduled Assets: $5,362,578

Scheduled Debts: $6,014,631

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ohnb10-55912.pdf

The petition was signed by Roger Nair, president.


C&D TECHNOLOGIES: Completes Debt-to-Equity Exchange Offer
---------------------------------------------------------
C&D Technologies Inc. has completed its debt-to-equity exchange
offer, reducing the Company's total debt from approximately
$175 million to $50 million and providing the company with an
appropriate capital structure to continue to meet its obligations
and execute its future business plans.

"[Thurs]day begins a new chapter for C&D. We are very pleased that
we were able to achieve our financial restructuring quickly and
efficiently through this out-of-court process with minimal
disruption to our business," said Dr. Jeffrey A. Graves, President
and CEO.  "The restructuring puts us on solid financial footing as
we enter 2011 and it will allow us to take full advantage of our
industry leadership position as our markets improve to pre-
recession levels and we continue to grow our operations in Asia.
C&D has been in business for more than 100 years and it is our
goal to serve our customer's needs, build value for our
shareholders and provide a great place to work for our employees
for the next 100 and beyond."

Pursuant to the terms of the exchange offer, the participating
noteholders will be issued their pro rata share of 93.09% of the
issued and outstanding Common Stock of the Company after the
Company's 1:37335:1 forward stock split for the benefit of the
existing holders of the Company's common stock has been processed.

After completion of the processing of the forward stock split
and issuance of post-stock split shares of common stock to the
participating noteholders, existing holders of the Company's
common stock will hold approximately 6.91% of the Company's
outstanding shares of Common Stock after the exchange offer.  Both
percentages are subject to dilution to the extent securities are
issued under the Company's management incentive plans.

                      About C&D Technologies

C&D Technologies, Inc., provides solutions and services for the
switchgear and control (utility), telecommunications, and
uninterruptible power supply (UPS), as well as emerging markets
such as solar power.  C&D Technologies' engineers, manufactures,
sells and services fully integrated reserve power systems for
regulating and monitoring power flow and providing backup power in
the event of primary power loss until the primary source can be
restored.  C&D Technologies' unique ability to offer complete
systems, designed and produced to high technical standards, sets
it apart from its competition.  C&D Technologies is headquartered
in Blue Bell, PA.


C&D TECHNOLOGIES: Delisted From New York Stock Exchange
-------------------------------------------------------
In a Form 25 filing with the Securities and Exchange Commission on
December 17, 2010, C&D Technologies Inc. notified the Commission
of the removal of its common stock from the listing or
registration under the New York Stock Exchange LLC.

                      About C&D Technologies

C&D Technologies, Inc., provides solutions and services for the
switchgear and control (utility), telecommunications, and
uninterruptible power supply (UPS), as well as emerging markets
such as solar power.  C&D Technologies' engineers, manufactures,
sells and services fully integrated reserve power systems for
regulating and monitoring power flow and providing backup power in
the event of primary power loss until the primary source can be
restored.  C&D Technologies' unique ability to offer complete
systems, designed and produced to high technical standards, sets
it apart from its competition.  C&D Technologies is headquartered
in Blue Bell, PA.

On September 14, 2010, the Company entered into a restructuring
support agreement with two convertible noteholders who together as
of the date of the RSA held approximately 56% of the aggregate
principal amount of the 2005 Notes and the 2006 Notes.  The
Supporting Noteholders have agreed to a proposed restructuring of
the 2005 Notes and the 2006 Notes which will be effected through
(i) an offer to exchange the outstanding 2005 Notes and 2006 Notes
for up to 95% of the Company's common stock, or (ii) a prepackaged
plan of reorganization under Chapter 11 of the U.S. Bankruptcy
Code.

C&D Technologies elected not to make a semi-annual interest
payment due on its 5.25% Convertible Senior Notes due 2025 on
November 1, 2010.

In December 2010, C&D Technologies completed its debt-to-equity
exchange offer, reducing the Company's total debt from
approximately $175 million to $50 million and providing the
company with an appropriate capital structure to continue to meet
its obligations and execute its future business plans.  Pursuant
to the terms of the exchange offer, the participating noteholders
will be issued their pro rata share of 93.09% of the issued and
outstanding Common Stock of the Company after the Company's
1:37335:1 forward stock split for the benefit of the existing
holders of the Company's common stock has been processed.


CAPITOL BANCORP: C. Meeusen Owns 97,625 Shares of Common Stock
--------------------------------------------------------------
In a Form 3 filing with the Securities and Exchange Commission on
December 17, 2010, Calvin D. Meeusen, a director at Capital
Bancorp Ltd., disclosed that he beneficially owns common stock of
the Company:

         Securities                 Nature of Indirect
     Beneficially Owned            Beneficial Ownership
     ------------------            --------------------
        37,236.1976                Grantor Trust
        41,381.6645                Wife's Grantor Trust
           1,596                   IRA
           3,491                   Wife's IRA
           7,922                   Retirement Plan
         2,893.0013                Wife & Son
         2,891.9721                Wife & Son
             214                   LLC

Mr. Meeusen has a warrant to purchase 48 shares of common stock of
the Company which warrant will expire on May 31, 2012.

                   About Capitol Bancorp Limited

Capitol Bancorp Limited (NYSE: CBC) is a $4.2 billion national
community banking company, with a network of bank operations in 14
states.  Founded in 1988, Capitol Bancorp Limited has executive
offices in Lansing, Mich., and Phoenix, Ariz.

The Company's balance sheet at Sept. 30, 2010, shows
$4.23 billion in total assets, $4.16 billion in total liabilities,
and equity of $77.68 million.

In September 2009, Capitol and its second-tier bank holding
companies entered into a written agreement with the Federal
Reserve Bank of Chicago under which Capitol has agreed, among
other things, to submit to the Reserve Bank a written plan to
maintain sufficient capital at Capitol on a consolidated basis and
at Michigan Commerce Bank (as a separate legal entity on a stand-
alone basis); and a written plan to enhance the consolidated
organization's risk management practices, a strategic plan to
improve the consolidated organization's operating results and
overall condition and a cash flow projection.

Certain of Capitol's bank subsidiaries have entered into formal
agreements with their applicable regulatory agencies.  Those
agreements provide for certain restrictions and other guidelines
and/or limitations to be followed by the banks.

In 2009, Capitol commenced the deferral of interest payments on
its various trust-preferred securities, as is permitted under the
terms of the securities, to conserve cash and capital resources.
The payment of interest may be deferred for periods up to five
years.  During such deferral periods, Capitol is prohibited from
paying dividends on its common stock (subject to certain
exceptions) and is further restricted by Capitol's written
agreement with the Federal Reserve Bank of Chicago.  Accrued
interest payable on such securities approximated $18.1 million at
June 30, 2010.


CASCADE BANCORP: Shareholders OK Sale of $177MM of Stock
--------------------------------------------------------
On December 23, 2010, Cascade Bancorp held a special meeting of
shareholders.  Two proposals were submitted to and approved by the
Company's shareholders.  The holders of 1,614,496 shares of the
Company's common stock were represented at the special meeting in
person or by proxy.

Shareholders approved the amendment to the Company's Articles of
Incorporation, as amended, to increase the number of authorized
shares of the Company's common stock from 40,000,000 to
100,000,000.

Also, shareholders approved the issuance of up to $177 million of
the Company's common stock to investors in private offerings
exempt from registration under the Securities Act of 1933, as
amended, pursuant to Securities Purchase Agreements entered into
by the Company and such investors on November 16, 2010, which will
result in such investors acquiring in the aggregate approximately
94% of the outstanding voting securities of the Company.

                        About Cascade Bancorp

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

The Company's balance sheet at June 30, 2010, showed
$1.919 billion in total assets, $1.907 billion in total
liabilities, and shareholders' equity of $12.1 million.

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


CHENIERE ENERGY: Acctg. Officer Smith Reports Equity Stake
----------------------------------------------------------
Jerry D. Smith, Vice President and Chief Accounting Officer of
Cheniere Energy, Inc., disclosed in a Form 4 filing with the
Securities and Exchange Commission his conversion of 33,333 units
of phantom stock on December 15, 2010.  Each share of phantom
stock is the economic equivalent of one share of Cheniere Energy
common stock.  The conversion raised his stake to 47,892 common
shares.

On the same date, Mr. Smith disposed of 8,817 common shares,
reducing his stake to 39,075 shares.

                       About Cheniere Energy

Cheniere Energy, Inc. (NYSE Amex: LNG) -- http://www.cheniere.com/
-- is a Houston-based energy company primarily engaged in LNG
related businesses, and owns and operates the Sabine Pass LNG
receiving terminal and Creole Trail pipeline in Louisiana.
Cheniere is pursuing related business opportunities both upstream
and downstream of the Sabine Pass LNG receiving terminal.
Cheniere is also the founder and holds a 30% limited partner
interest in another LNG receiving terminal.

Cheniere Energy reported a net loss of $40.6 million for the
quarter ended September 30, 2010, compared with a net loss of
$42.5 million for the comparable 2009 period.  Revenue was
$68.25 million in the third quarter of 2010 compared with
$56.33 million in the same period in 2009.

The Company's balance sheet at Sept. 30, 2010, showed
$2.61 billion in total assets, $354.40 million in total current
liabilities, $2.59 billion in long-term debt, $74.63 million in
long-term debt - related to parties, $30.73 million in deferred
revenue, $2.31 million in other non-current liabilities, and a
stockholders' deficit of $431.01 million.


CHENIERE ENERGY: GSO Capital et al. Disclose Equity Stake
---------------------------------------------------------
In a Schedule 13G filing with the Securities and Exchange
Commission, GSO Capital Partners LP disclosed that it may be
deemed to directly hold 134,889 shares of Common Stock of Cheniere
Energy, Inc.  GSO Special Situations Fund LP directly holds
2,716,119 shares of Common Stock, GSO COF Facility LLC directly
holds 4,402,174 shares of Common Stock and GSO Special Situations
Overseas Master Fund Ltd. directly holds 2,377,825 shares of
Common Stock.

The GSO entities may be deemed to hold 14.2% of the Shares in the
aggregate.

GSO Capital Partners LP is the investment manager of each of GSO
Special Situations Fund LP and GSO Special Situations Overseas
Master Fund Ltd, and collateral manager of GSO COF Facility LLC.

GSO Advisor Holdings L.L.C. is the general partner of GSO Capital
Partners LP.

In the same schedule, Blackstone Distressed Securities Fund L.P.
disclosed it may be deemed to directly hold 116,672 shares of
Common Stock.

Blackstone Distressed Securities Advisors L.P. serves as the
investment advisor to Blackstone Distressed Securities Fund L.P.
Blackstone DD Advisors L.L.C. is the general partner of Blackstone
Distressed Securities Advisors L.P. Blackstone Holdings I L.P. is
the sole member of each of GSO Advisor Holdings L.L.C. and
Blackstone DD Advisors L.L.C. Blackstone Holdings I/II GP Inc. is
the general partner of Blackstone Holdings I L.P.  The Blackstone
Group L.P. is the controlling shareholder of Blackstone Holdings
I/II GP Inc.  Blackstone Group Management L.L.C. is the general
partner of The Blackstone Group L.P.

Blackstone Group Management L.L.C. is controlled by Stephen A.
Schwarzman, one of its founders.  Each of Bennett J. Goodman, J.
Albert Smith III and Douglas I. Ostrover is an executive of GSO
Capital Partners LP.

A copy of the Schedule 13G filing dated December 27 is available
at http://is.gd/jDryj

On December 23, Blackstone Group filed a Form 3, disclosing its
stake in Cheniere, a copy of which is available at
http://is.gd/jDrWH

GSO Capital filed a Form 3 on the same date, a copy of which is
avialable at http://is.gd/jDrYL

                       About Cheniere Energy

Cheniere Energy, Inc. (NYSE Amex: LNG) -- http://www.cheniere.com/
-- is a Houston-based energy company primarily engaged in LNG
related businesses, and owns and operates the Sabine Pass LNG
receiving terminal and Creole Trail pipeline in Louisiana.
Cheniere is pursuing related business opportunities both upstream
and downstream of the Sabine Pass LNG receiving terminal.
Cheniere is also the founder and holds a 30% limited partner
interest in another LNG receiving terminal.

Cheniere Energy reported a net loss of $40.6 million for the
quarter ended September 30, 2010, compared with a net loss of
$42.5 million for the comparable 2009 period.  Revenue was
$68.25 million in the third quarter of 2010 compared with
$56.33 million in the same period in 2009.

The Company's balance sheet at Sept. 30, 2010, showed
$2.61 billion in total assets, $354.40 million in total current
liabilities, $2.59 billion in long-term debt, $74.63 million in
long-term debt - related to parties, $30.73 million in deferred
revenue, $2.31 million in other non-current liabilities, and a
stockholders' deficit of $431.01 million.


CHIMNEY HILL: Case Summary & 18 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Chimney Hill Properties, Ltd.
        1013 N. Beverly Drive
        Beverly Hills, CA 90210

Bankruptcy Case No.: 10-65062

Chapter 11 Petition Date: December 27, 2010

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

Debtor's Counsel: David J. Richardson, Esq.
                  THE CREDITORS' LAW GROUP
                  2310 Hyperion Avenue, Suite A
                  Los Angeles, CA 90027
                  Tel: (323) 686-5400
                  Fax: (323) 686-5403
                  E-mail: djr@thecreditorslawgroup.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 18 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-65062.pdf

The petition was signed by Brandon Wolsic, vice president of
Rossco Holdings Inc., general partner.

Debtor-affiliates that filed separate Chapter 11 petitions:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Rossco Holdings, Inc.                 10-55951            08/02/10
Colony Lodging, Inc.                  10-55925            07/27/10
Monte Nido Estates, LLC               10-55947            07/28/10
WM Properties, Ltd.                   10-55970            07/28/10
Leonard M. Ross                       10-49358            09/15/10


CLEAR CHANNEL: Exploring Financing Alternatives
-----------------------------------------------
Clear Channel Communications Inc. said it is exploring a diverse
array of alternatives in an effort to optimize its overall capital
structure.  The alternatives may include:

     i) the incurrence of new incremental credit facilities,

    ii) amendments to CCU's existing credit facilities to, among
        other things, permit CCU and its subsidiaries, including
        Clear Channel Outdoor Holdings, Inc., to incur additional
        secured or unsecured indebtedness and permit extensions of
        the maturities of one or more of the revolving credit
        facilities and tranches of term loan facilities of CCU,

   iii) an offering of new senior secured or unsecured debt of CCU
        or its affiliates and

    iv) a debt-for-debt exchange with existing holders.

Should CCU pursue the incurrence of any new incremental credit
facilities or the issuance of any other new debt, it currently
anticipates that the proceeds would ultimately be used to
refinance existing indebtedness, including the CCU legacy notes.

Should CCU pursue any such incurrence or issuance, the terms,
timing and structure of any transaction will naturally depend on
market conditions, and the amounts involved may be material.
There can be no assurance that any transaction will ultimately be
pursued or that any transaction, if pursued, will be successful.

                        About Clear Channel

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

Clear Channel's balance sheet at June 30, 2010, showed $17.287
billion in assets, $24.496 billion in total liabilities and a
shareholders' deficit of $7.209 billion.

                            *     *     *

Clear Channel Carries a Caa2 corporate family rating from Moody's
Investors Service and an issuer default rating of 'CCC' from Fitch
Ratings.

Fitch said on November 22, 2010, that its 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.


CLEARWIRE CORP: Three Directors Do Not Own Any Securities
---------------------------------------------------------
In separate Form 3 filings with the Securities and Exchange
Commission on December 20, 2010, William R. Blessing, Mufit Cinali
and Hossein Eslambolchi, directors at Clearwire Corp., disclosed
that they do not beneficially own any securities of the company.
They are:

                    About Clearwire Corporation

Kirkland, Wash.-based Clearwire Corporation (NASDAQ: CLWR)
-- http://www.clearwire.com/-- through its operating
subsidiaries, is a leading provider of wireless broadband
services.  Clearwire's 4G mobile broadband network serves 68
markets, including New York City, Los Angeles, Chicago, Dallas,
Philadelphia, Houston, Miami, Washington, D.C., Atlanta and
Boston.

The Company's balance sheet at September 30, 2010, showed
$10.52 billion in total assets, $3.90 billion in total
liabilities, and stockholders' equity of $6.62 billion.

The Company disclosed in its Form 10-Q for the third quarter ended
September 30, 2010, that its expected continued losses from
operations and the uncertainty about its ability to obtain
sufficient additional capital raise substantial doubt about the
Company's ability to continue as a going concern.

"Without additional financing sources, we forecast that our cash
and short-term investments would be depleted as early as the
middle of 2011.  Thus, we will be required to raise additional
capital in the near-term in order to continue operations.
Further, we also need to raise substantial additional capital over
the long-term to fully implement our business plans."


COLONIAL BANCGROUP: To Present Plan for Confirmation on Feb. 3
--------------------------------------------------------------
Colonial BancGroup Inc. is now scheduled to present its Plan of
Liquidation for confirmation at a hearing on February 3, 2011,
after it obtained approval from the Bankruptcy Court of the
explanatory disclosure statement, according to BankruptcyData.com.

As reported in the December 15, 2010 edition of the Troubled
Company Reporter, according to the Disclosure Statement, the Plan
calls for the liquidation of all assets of the Debtor and the
distribution of the proceeds to the Debtor's creditors.  After the
Plan is confirmed by the Bankruptcy Court, the Plan Trustee will
be authorized to continue the task begun by the Debtor of
pursuing, collecting and liquidating the remaining assets of the
Debtor.

In addition to liquidating the Debtor's Core Assets, the Plan
Trustee will investigate and evaluate any claims the Debtor may
have against insiders, affiliated companies and independent third
parties, the pursuit of which may supplement the proceeds
recovered by liquidating the Debtor's core assets.  The proceeds
of this liquidation effort will be used to pay the outstanding
claims against the Debtor in accordance with the classifications
and order of priority of these claims under the Plan.

The Debtor intends to pay all claims in full.  However, the Debtor
does not anticipate any distribution to Classes G (Statutorily
Subordinated Claims) and H (Equity Interests).  If there are
insufficient funds to pay a certain class in full, available funds
will be distributed pro rata among the members of that class in
accordance with the amount of the allowed claims in that class.
Reserves will be established for the payment of disputed claims to
the extent required in the Plan.

As part of his duties, the Plan Trustee will evaluate and contest
Claims and Equity Interests (if necessary) asserted against the
Debtor when, in his judgment and based on all of the
circumstances, the Plan Trustee concludes that the claim or
Interest must be contested.  Other parties-in-interest also
are entitled to object to and otherwise challenge Claims asserted
against the Debtor.

The Plan will be funded by existing cash on hand and the cash to
be received from the liquidation of the Debtor's assets.  In
addition, the Plan will be funded by any recoveries realized
from the prosecution or settlement of litigation undertaken by the
Plan Trustee in the name of and on behalf of the Debtor.

                  About The Colonial BancGroup

Headquartered in Montgomery, Alabama, The Colonial BancGroup,
Inc., (NYSE: CNB) owned Colonial Bank, N.A, its banking
subsidiary.  Colonial Bank -- http://www.colonialbank.com/--
operated 354 branches in Florida, Alabama, Georgia, Nevada and
Texas with over $26 billion in assets.  On August 14, 2009,
Colonial Bank was seized by regulators and the Federal Deposit
Insurance Corporation was named receiver.  The FDIC sold most of
the assets to Branch Banking and Trust, Winston-Salem, North
Carolina.  BB&T acquired $22 billion in assets and assumed
$20 billion in deposits of the Bank.

The Colonial BancGroup filed for Chapter 11 bankruptcy protection
(Bankr. M.D. Ala. Case No. 09-32303) on August 25, 2009.  W. Clark
Watson, Esq., at Balch & Bingham LLP, and Rufus T. Dorsey IV,
Esq., at Parker Hudson Rainer & Dobbs LLP, assist the Debtor.  The
Debtor disclosed $45 million in total assets and $380 million in
total liabilities as of the Petition Date.


COMSTOCK MINING: Sun Valley Owns 4.8-Mil. Shares of Pref. Stock
---------------------------------------------------------------
In a Form 3 filing with the Securities and Exchange Commission on
December 20, 2010, Sun Valley Gold LLC disclosed that it directly
beneficially owns 3,141,818 shares of 7-1/2% Series B Convertible
Preferred Stock and indirectly beneficially owns 1,706,666 shares
of 7-1/2% Series B Convertible Preferred Stock, both of which were
exercisable on October 20, 2010.

The securities are directly held by Sun Valley Gold Master Fund,
Ltd. Sun Valley Gold LLC, Peter F. Palmedo and Palmedo Holdings
LLLP may be deemed to, indirectly, beneficially own the securities
directly held by Sun Valley Gold Master Fund, Ltd.

                       About Comstock Mining

Virginia City, Nev.-based Comstock Mining Inc. is a Nevada-based,
gold and silver mining company with extensive, contiguous property
in the historic Comstock district.  The Company began acquiring
properties in the Comstock in 2003.  Since then, the Company has
consolidated a substantial portion of the Comstock district,
secured permits, built an infrastructure and brought the
exploration project into test mining production.  The Company
continues acquiring additional properties in the Comstock
district, expanding its footprint and creating opportunities for
exploration and mining.  The goal of the Company's strategic plan
is to deliver stockholder value by validating qualified resources
(measured and indicated) and reserves (probable and proven) of
3,250,000 gold equivalent ounces by 2013, and commencing
commercial mining and processing operations by 2011, with annual
production rates of 20,000 gold equivalent ounces.

The Company's balance sheet at September 30, 2010, showed
$5.6 million in total assets, $46.6 million in total liabilities,
and a stockholders' deficit of $41.0 million.

As reported in the Troubled Company Reporter on April 15, 2010,
Jewett, Schwartz, Wolfe & Associates expressed substantial doubt
about Goldspring, Inc.'s ability to continue as a going concern,
following the Company's 2009 results.  The independent auditors
noted that the Company has operating and liquidity concerns and
has incurred historical net losses approximating $55.0 million as
of December 31, 2009.  The Company also used cash in operating
activities of $3.6 million in 2009.


COUNTRYWIDE FINANCIAL: Allstate Sues Over $700MM in MBS
-------------------------------------------------------
Dow Jones Newswires' David Benoit reports that insurance company
Allstate Corp. sued mortgage-originator Countrywide Financial
Corp., Monday in Manhattan federal court over $700 million in
residential mortgage-backed securities that Allstate had invested
in.

Dow Jones says the suit names Countrywide executives as
defendants, including Chairman and Chief Executive Angelo Mozilo,
who agreed in October 2010 to pay $67.5 million in penalties to
settle civil-fraud and insider-trading charges from the housing
crisis.

Dow Jones says Allstate's suit contains similar allegations other
investors have raised with mortgage creators, namely that lax
underwriting standards are to blame for the collapse of the
investment vehicles.  According to the report, Allstate says
between 2005 and 2007 it purchased $700 million in securities from
Countrywide, investments it thought were "highly rated, safe
securities."  The suit alleges that, in fact, Countrywide knew the
loans were "a toxic mix of loans given to borrowers that could not
afford the properties, and thus were highly likely to default."

"We are still reviewing the complaint, but this unfortunately
appears to be a situation where a sophisticated investor is
looking for someone to blame for a downturn in the economy and
losses on an investment it made," said a Bank of America spokesman
Bill Halldin, according to the report.

                    About Countrywide Financial

Based in Calabasas, California, Countrywide Financial Corporation
(NYSE: CFC) -- http://www.countrywide.com/-- originated,
purchased, securitized, sold, and serviced residential and
commercial loans.

In mid-2008, Bank of America completed its purchase of Countrywide
for $2.5 billion.  The mortgage lender was originally priced at
$4 billion, but the purchase price eventually was whittled down to
$2.5 billion based on BofA's stock prices that fell over 40% since
the time it agreed to buy the ailing lender.


CRYOPORT INC: 12.3 Mil. Shares May Be Resold by Stockholders
------------------------------------------------------------
In an amended Form S-1 filing with the Securities and Exchange
Commission on December 17, 2010,

Cryoport, Inc., filed an amended Form S-1 in connection with the
offer for sale by existing stockholders of 5,532,418 shares, par
value $0.001 per share, currently outstanding and up to an
additional 6,755,293 shares of the Company's common stock issuable
upon exercise of the warrants held by the security holders.

It is anticipated that the selling security holders will sell
these shares of common stock from time to time in one or more
transactions, in negotiated transactions or otherwise, at
prevailing market prices or at prices otherwise negotiated.

The Company will not receive any proceeds from the sales of shares
of common stock by the selling security holders.  The Company has
agreed to pay all fees and expenses incurred by it incident to the
registration of its common stock, including SEC filing fees.  Each
selling security holder will be responsible for all costs and
expenses in connection with the sale of their shares of common
stock, including brokerage commissions or dealer discounts.

A copy of the prospectus is available for free at:

              http://ResearchArchives.com/t/s?717a

                        About CryoPort Inc.

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

At September 30, 2010, the Company had total assets of $5,371,035,
total liabilities of $5,524,772, and a stockholders' deficit of
$153,737.

                           Going Concern

KMJ Corbin & Company LLP expressed substantial doubt about
CryoPort's ability to continue as a going concern, following
the Company's 2009 results.  The firm noted that the Company has
incurred recurring losses and negative cash flows from operations
since inception.


DANSY PROPERTIES: Case Summary & 4 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Dansy Properties L.L.C.
        c/o Wessex Commercial Management
        P.O. BOX 44033
        Phoenix, AZ 85064

Bankruptcy Case No.: 10-40900

Chapter 11 Petition Date: December 23, 2010

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

Judge: Redfield T. Baum, Sr.

Debtor's Counsel: Stanford E. Lerch, Esq.
                  LERCH & DEPRIMA PLC
                  4000 N. Scottsdale Road, Suite 107
                  Scottsdale, AZ 85251
                  Tel: (480) 212-0700
                  Fax: (480) 212-0705
                  E-mail: slerch@ldlawaz.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/azb10-40900.pdf

The petition was signed by Dan Unger, managing member.


DIABETES AMERICA: Court Extends Filing of Schedules Until Feb. 4
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas has
extended, at the behest of Diabetes America, Inc., the deadline
for the filing of schedules of assets and liabilities and
statement of financial affairs until February 4, 2011.

The Schedules and Statement were initially due to be filed no
later than January 5, 2011.

The Debtor is a large medical provider who provides ongoing care
to patients in a setting that is otherwise unavailable due to the
uniqueness and benefit of the platform.  The Debtor has aggregate
debts in excess of $11 million and has 17 clinics throughout
various cities in Texas and Arizona.  The Debtor is not only
responsible for performing administrative functions for each of
its operations, it is also responsible for performing
administrative tasks like billing, collections, payroll, cash
management and other financial services for DCOA-Physicians
Associates, PA., which is a separate entity that employs
approximately 25 physicians, who provide the medical services at
the Debtor's clinics.  "As such, the Schedules and Statement will
be reasonably complex and require significant effort to complete,"
the Debtor said.  Furthermore, the Debtor said that because the
Petition was filed near the holidays, many employees of the
Debtor, court officials and legal staff will have difficulty
completing the Schedules and Statement prior to the current
deadline.

Houston, Texas-based Diabetes America, Inc., fka Diabetes Centers
of America, Inc., operates a network of 17 centrally-managed
medical clinics that provide comprehensive outpatient medical
care, primarily to patients with Type 1, Type 2 and Gestational
Diabetes.  The company's clinics are located in Texas and Houston
and generate 51,000 patient visits per year.

Diabetes America filed for Chapter 11 bankruptcy protection on
December 21, 2010 (Bankr. S.D. Tex. Case No. 10-41521).  H. Joseph
Acosta, Esq., and Micheal W. Bishop, Esq., at Looper Reed & McGraw
P.C., serve as the Debtor's bankruptcy counsel.  The Debtor
estimated its assets and debts at $10 million to $50 million.


DIABETES AMERICA: Gets Interim Nod to Use Cash Collateral
---------------------------------------------------------
Diabetes America, Inc., sought and obtained interim authorization
from the U.S. Bankruptcy Court for the Southern District of Texas
to use the cash collateral of MetroBank, N.A., and the other
secured creditors.

Pursuant to the terms of a certain Promissory Note dated
September 7, 2007, as may have been extended and amended, Debtor
obtained a loan in the original principal amount of $600,000 from
MetroBank.  The approximate indebtedness owing to MetroBank by
Debtor, as of the Petition Date, was $556,112.15.

In addition to the asserted secured claim by MetroBank, these
parties have filed UCC financing statements that may arguably
create a lien on Debtor's inventory and accounts receivable:

    Alleged Creditor                  Alleged Claim Amount
    ----------------                  --------------------
Denly ACI Partners, Ltd.                     $93,500
Dennis C. Von Waaden and Sally A. Von
  Waaden, Co-Trustees of the Von Waaden
  2004 Revocable Trust                      $450,000
Afton Capital, Inc.                          $90,000
Apelles Investment Management, LLC        $4,900,000
Frank and Dina Basile                       $150,000
Baytree Leasing Company, LLC                 Unknown
Bonita Lue Groesser                          $50,000
Kimon J. Angelides                           Unknown
KB Centre, Ltd.                              Unknown
Venue at Hometown, Ltd.                      Unknown

H. Joseph Acosta, Esq., Looper Reed & Mcgraw, P.C., explained that
the Debtor needs the money to fund its Chapter 11 case, pay
suppliers and other parties.

In exchange for using the cash collateral, the Debtor will grant
MetroBank and the other secured creditors a replacement lien on
the Debtor's postpetition accounts receivable and proceeds of
collection of the Debtor's accounts receivable, to the extent the
use of any creditors' cash collateral results in a decrease in the
value of each creditors interests in the property upon which the
creditor holds a validly perfected and unavoidable lien on
property of the Debtor's bankruptcy estate.

The Court has set a further interim hearing for January 6, 2011,
at 3:00 p.m. on the Debtor's request to use cash collateral.

                      About Diabetes America

Houston, Texas-based Diabetes America, Inc., fka Diabetes Centers
of America, Inc., operates a network of 17 centrally-managed
medical clinics that provide comprehensive outpatient medical
care, primarily to patients with Type 1, Type 2 and Gestational
Diabetes.  The company's clinics are located in Texas and Houston
and generate 51,000 patient visits per year.

Diabetes America filed for Chapter 11 bankruptcy protection on
December 21, 2010 (Bankr. S.D. Tex. Case No. 10-41521).  H. Joseph
Acosta, Esq., and Micheal W. Bishop, Esq., at Looper Reed & McGraw
P.C., serve as the Debtor's bankruptcy counsel.  The Debtor
estimated its assets and debts at $10 million to $50 million.


DOMINADOR CASTILLO: Case Summary & 17 Largest Unsecured Creditors
-----------------------------------------------------------------
Joint Debtors: Dominador Ricafrente Castillo
               Avelina Conde Castillo
               11837 Wagner Street
               Culver City, CA 90230

Bankruptcy Case No.: 10-64804

Chapter 11 Petition Date: December 23, 2010

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

Judge: Barry Russell

Debtors' Counsel: Krystina T. Tran, Esq.
                  LAW OFFICES OF TRAN AND ISERHIEN PC
                  17011 Beach Boulevard, Suite 900
                  Huntington Beach, CA 92647
                  Tel: (714) 892-6006
                  Fax: (877) 718-0098
                  E-mail: krystina@bklawcorp.com

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

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

A list of the Joint Debtors' 17 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-64804.pdf


DR HORTON: S&P Retains 'BB-' Rating on $2.2 Bil. Senior Notes
-------------------------------------------------------------
Standard & Poor's Ratings Services revised its recovery rating on
D.R. Horton Inc.'s $2.2 billion senior unsecured notes to '3' from
'4', indicating S&P's expectation for meaningful (50%-70%)
recovery in the event of default.  The 'BB-' rating on the senior
unsecured notes remains unchanged.

The revised recovery rating reflects the company's substantial
cash position and a meaningful reduction in outstanding debt over
the past year.  Fort Worth, Texas-based D.R. Horton is the
nation's largest homebuilder by volume, having delivered 20,875
homes during is fiscal year ended Sept. 30, 2010.

                           Ratings List

                         D.R. Horton Inc.

           Corporate credit rating       BB-/Stable/--

                          Rating Revised

                         D.R. Horton Inc.

          Recovery rating                  To      From
          ---------------                  --      ----
          $2.2 bil. sr. unsecured notes    3       4


DUKE AND KING: Bank of America Wants Case Converted to Chapter 7
----------------------------------------------------------------
Secured creditor Bank of America, National Association, asks the
U.S. Bankruptcy Court for the District of Minnesota to convert the
Chapter 11 cases of Duke and King Acquisition Corp. et al., to
those under Chapter 7 of the Bankruptcy Code.

BofA claims that:

   -- the Debtors do not intend to rehabilitate their businesses
      under Chapter 11;

   -- the insider guarantors' individual liabilities to Burger
      King provide a powerful incentive to manage the Chapter 11
      cases for the benefit Burger King and to limit their own
      personal guaranty liability rather than manage the cases for
      the benefit of all creditors; and

   -- if Burger King fails to extend the Limited License Agreement
      in the future, the Debtors will no longer be able to operate
      their locations as Burger King restaurants.

BofA relates that as of the Petition Date, the Debtors'
indebtedness consists of $10,884,777 on account of principal,
$111,447 on account of interest and $6,685 on account of fees and
expenses.  Additionally, as of December 3, the Debtors were liable
to the bank under a swap agreement dated as of November 10, 2006
in the amount of $704,400.

BofA adds that the Debtors' own cash projections show that any
rehabilitation would be impossible if one includes the accruing
royalties and national advertising fees.

The Court will convene a hearing on January 10, 2011, at 9:30
a.m., to consider the request to convert the Debtors' cases.
Objections, if any, are due January 5.

               About Duke and King Acquisition Corp.

Burnsville, Minnesota-based Duke and King Acquisition Corp., dba
Burger King, was formed in November 2006, to acquire 88 Burger
King franchise restaurants from the Nath Companies.  It filed for
Chapter 11 bankruptcy protection on December 4, 2010 (Bankr. D.
Minn. Case No. 10-38652).  Clinton E. Cutler, Esq., and Douglas W.
Kassebaum, Esq., at Fredrikson & Byron, P.A., serve as the
Debtor's bankruptcy counsel.  The Debtor estimated its assets and
debts at $10 million to $50 million.

Affiliates Duke and King Missouri Holdings, Inc. (Bankr. D. Minn.
Case No. 10-38654), Duke and King Missouri, LLC (Bankr. D. Minn.
Case No. 10-38653), Duke and King Real Estate, LLC (Bankr. D.
Minn. Case No. 10-38655), and DK Florida Holdings, Inc. (Bankr. D.
Minn. Case No. 10-3856), filed separate Chapter 11 petitions on
December 4, 2010.

The cases are jointly administered, with Duke and King Acquisition
Corp. as the lead case.


DUKE AND KING: Has Access to Cash Collateral Until Jan. 14
----------------------------------------------------------
The Hon. Gregory F. Kishel of the U.S. Bankruptcy Court for the
District of Minnesota authorized Duke and King Acquisition Corp.,
et al., to use cash generated by their business operations until
January 14, 2011.

The Debtors assert that Bank of America, N.A., Warren Capital
Corporation, the Coca-Cola Company, Duke Manufacturing Company or
Meadowbrook Meat Company, Inc., have a lien on or security
interests in certain non-cash assets of the Debtors, but have no
interest in, or lien on, the Debtors' cash.  BofA and MBM assert
that the Debtors' cash is cash collateral, the use of which
requires their consent or an order of the Court.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtors will grant BofA and MBM replacement liens
in the Debtors' postpetition assets of the same type and nature as
those assets subject to the prepetition liens of BofA and MBM.

The final hearing on the Debtors' request for cash collateral use
is scheduled for January 10, at 9:30 a.m. (Central Time).
Objections, if any, are due January 5.

The parties are requested to file by January 4, written
designations of the witnesses they intend to call at the final
hearing, together with detailed recitations of the subject matter
as to which they will testify.  By January 6, the parties must
file all remaining briefing going to the issues raised by the
Debtors in the Motion and BofA in its response.

               About Duke and King Acquisition Corp.

Burnsville, Minnesota-based Duke and King Acquisition Corp., dba
Burger King, was formed in November 2006, to acquire 88 Burger
King franchise restaurants from the Nath Companies.  It filed for
Chapter 11 bankruptcy protection on December 4, 2010 (Bankr. D.
Minn. Case No. 10-38652).  Clinton E. Cutler, Esq., and Douglas W.
Kassebaum, Esq., at Fredrikson & Byron, P.A., serve as the
Debtor's bankruptcy counsel.  The Debtor estimated its assets and
debts at $10 million to $50 million.

Affiliates Duke and King Missouri Holdings, Inc. (Bankr. D. Minn.
Case No. 10-38654), Duke and King Missouri, LLC (Bankr. D. Minn.
Case No. 10-38653), Duke and King Real Estate, LLC (Bankr. D.
Minn. Case No. 10-38655), and DK Florida Holdings, Inc. (Bankr. D.
Minn. Case No. 10-3856), filed separate Chapter 11 petitions on
December 4, 2010.

The cases are jointly administered, with Duke and King Acquisition
Corp. as the lead case.


DUKE AND KING: Section 341(a) Meeting Scheduled for January 18
--------------------------------------------------------------
The U.S. Trustee for Region 12 will convene a meeting of creditors
in Duke and King Acquisition Corp. et al.'s Chapter 11 case on
January 18, 2011, at 1:30 p.m.  The meeting will be held at US
Courthouse, Room 1017, 300 South 4th Street, Minneapolis,
Minnesota.

This is the first meeting of creditors required under Section
341(a) of the 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.

Burnsville, Minnesota-based Duke and King Acquisition Corp., dba
Burger King, was formed in November 2006, to acquire 88 Burger
King franchise restaurants from the Nath Companies.  It filed for
Chapter 11 bankruptcy protection on December 4, 2010 (Bankr. D.
Minn. Case No. 10-38652).  Clinton E. Cutler, Esq., and Douglas W.
Kassebaum, Esq., at Fredrikson & Byron, P.A., serve as the
Debtor's bankruptcy counsel.  The Debtor estimated its assets and
debts at $10 million to $50 million.

Affiliates Duke and King Missouri Holdings, Inc. (Bankr. D. Minn.
Case No. 10-38654), Duke and King Missouri, LLC (Bankr. D. Minn.
Case No. 10-38653), Duke and King Real Estate, LLC (Bankr. D.
Minn. Case No. 10-38655), and DK Florida Holdings, Inc. (Bankr. D.
Minn. Case No. 10-3856), filed separate Chapter 11 petitions on
December 4, 2010.

The cases are jointly administered, with Duke and King Acquisition
Corp. as the lead case.


DUKE AND KING: Wants Until Jan. 9 to File Schedules & Statements
----------------------------------------------------------------
Duke and King Acquisition Corp., et al., asks the U.S. Bankruptcy
Court for the District of Minnesota to extend until January 9,
2011, their time to file their schedules of assets and liabilities
and statements of financial affairs.

The Debtors need more time to assemble and compile schedules and
statements.  The core group of employees at Debtors' headquarters
are still coordinating with employees at the 87 operating
restaurants in six states to gather information for the schedules
and statements.

Burnsville, Minnesota-based Duke and King Acquisition Corp., dba
Burger King, was formed in November 2006, to acquire 88 Burger
King franchise restaurants from the Nath Companies.  It filed for
Chapter 11 bankruptcy protection on December 4, 2010 (Bankr. D.
Minn. Case No. 10-38652).  Clinton E. Cutler, Esq., and Douglas W.
Kassebaum, Esq., at Fredrikson & Byron, P.A., serve as the
Debtor's bankruptcy counsel.  The Debtor estimated its assets and
debts at $10 million to $50 million.

Affiliates Duke and King Missouri Holdings, Inc. (Bankr. D. Minn.
Case No. 10-38654), Duke and King Missouri, LLC (Bankr. D. Minn.
Case No. 10-38653), Duke and King Real Estate, LLC (Bankr. D.
Minn. Case No. 10-38655), and DK Florida Holdings, Inc. (Bankr. D.
Minn. Case No. 10-3856), filed separate Chapter 11 petitions on
December 4, 2010.

The cases are jointly administered, with Duke and King Acquisition
Corp. as the lead case.


EAGLES CREST: Case Summary & 8 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Eagles Crest Leasing Group 1, LLC
        P.O. Box 5247
        Coralville, IA 52241

Bankruptcy Case No.: 10-06103

Chapter 11 Petition Date:

Court: U.S. Bankruptcy Court
       Southern District of Iowa - Database (Davenport)

Judge: Lee M. Jackwig

Debtor's Counsel: Jeffrey D. Goetz, Esq.
                  BRADSHAW, FOWLER, PROCTOR & FAIRGRAVE, P.C.
                  801 Grand Avenue, Suite 3700
                  Des Moines, IA 50309-8004
                  Tel: (515) 246-5817
                  Fax: (515) 246-5808
                  E-mail: bankruptcyefile@bradshawlaw.com

Estimated Assets: $10,000,001 to $50,000,000

Estimated Debts: $10,000,001 to $50,000,000

The petition was signed by John R. Pratt, president and managing
member.

Debtor's List of eight Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Harris Excavating                  Trade Debt               $3,051
20606 Maysville Road
Davenport, IA 52804

Stanley, Lande & Hunter            Professional Fees          $730
301 Iowa Avenue, Suite 400
Muscatine, IA 52761

Petersen Plumbing                  Trade Debt                 $181
926 West 3rd Street
Davenport, IA 52802

Dial Properties                    Professional Fees       unknown

Internal Revenue Service           Notice Purposes Only    unknown

Iowa Department of Revenue         Notice Purposes Only    unknown

Savage & Browning                  Professional Fees       unknown

Scott County Treasurer             Property Taxes          unknown


ECOLY INTERNATIONAL: Case Summary & Largest Unsecured Creditor
--------------------------------------------------------------
Debtor: Ecoly International, Inc.
        21551 Prairie Street
        Chatsworth, CA 91311

Bankruptcy Case No.: 10-25919

Chapter 11 Petition Date: December 21, 2010

Court: United States Bankruptcy Court
       Central District Of California (San Fernando Valley)

Judge: Geraldine Mund

Debtor's Counsel: Scott F. Gautier, Esq.
                  PEITZMAN, WEG & KEMPINSKY LLP
                  10100 Santa Monica Blvd, Ste. 1450
                  Los Angeles, CA 90067
                  Tel: (310) 552-3100
                  E-mail: sgautier@pwkllp.com

Scheduled Assets: $2,684,496

Scheduled Debts: $88,746,019

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

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Northwestern Mutual       Subordinated           $24,000,000
Life Insurance Company    Note
720 East Wisconsin Ave.,
Milwaukee, Wisconsin 53202

The petition was signed by T. Scott Avila, chief restructuring
officer.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Sexy Hair Concepts, LLC                10-25922  12/21/10
Luxe Beauty Midco Corporation          10-25921  12/21/10


ELEPHANT TALK: Amends Form S-1; Files Signed Version of Opinion
---------------------------------------------------------------
Elephant Talk Communications, Inc. filed with the Securities and
Exchange Commission on December 17, 2010, an amended Form S-1 for
the purpose of filing a signed version of the 5.1 opinion and
revising certain fees.  No other changes have been made to the
Registration Statement on Form S-1.  The Form S-1 relates to the
offering of 68,872,357 shares of common stock.

A copy of the signed version of the 5.1 Opinion is available for
free at http://ResearchArchives.com/t/s?7178

As reported in the Dec. 16, 2010 edition of the Troubled Company
Reporter, Elephant Talk filed with the Securities and Exchange
Commission filed a prospectus to register 68,872,357 shares of
common stock to be sold in an offering.

In 2009, through a private placement $12.3 million gross was
raised, with $6.08 million from related parties.  In the first
three months of 2010, the Company has received loans in the total
amount of EUR1,850,000 (US$ 2,518,220) from QAT II Investments,
SA, a related party investment fund.

In 2010, the Company also raised $2,885,000 in 2010 in a bridge
equity financing of units consisting of common stock, no par
value, and warrants exercisable into common stock, with accredited
investors.  Subsequent to the Bridge Financing, the Company
conducted a private placement of units consisting of shares of its
common stock and warrants to accredited investors which resulted
in gross proceeds of $6,459,800 in the second quarter 2010,
$1,927,750 in the third quarter and $5,612,450 in October 2010
bringing the total gross proceeds of the Private Placement
Offering to $14,000,000.

According to the November 23, 2010 Form S-1 filing, the shares of
common stock registered in the Prospectus include:

   (i) 18,437,997 shares of common stock issued in the 2010
       private placement offering;

  (ii) 2,885,000 shares of common stock issued in the 2010 bridge
       offering;

(iii) 23,464,387 shares of common stock issuable in connection
       with 23,464,387 warrants issued in connection with the 2010
       private placement (including (a) 11,666,686 warrants
       underlying the units issued to investors in the 2010
       private placement, (b) 6,711,311 warrants underlying
       automatic conversions of certain notes and loans by QAT II
       Investments, SA and (c) 5,026,390 warrants issued in
       connection with the amendment to certain loans from QAT
       II),

  (iv) 5,770,000 shares of common stock underlying 5,770,000
       warrants issued in the 2010 bridge offering (including
       2,885,000 "A" warrants and 2,885,000 "B" warrants);

   (v) 11,543,020 shares of common stock underlying 11,543,020
       warrants issued in connection with the 2009 private
       placement;

  (vi) 2,100,003 shares of common stock underlying 2,100,003
       warrants issued to Dawson James for acting as selling agent
       in connection with the 2010 private placement offering;

(vii) 465,300 shares of common stock underlying 465,300 warrants
       issued to Sandgrain Securities and Quercus Management Group
       NV for acting as selling agent in connection with the 2010
       bridge offering (including 232,650 "A" warrants and 232,650
       "B" warrants);

(viii) 1,693,455 shares of common stock underlying 1,693,455
       warrants issued to Dawson James and QMG for acting as
       selling agents in connection with the 2009 convertible
       note offering; and

  (ix) 2,513,195 shares of common stock underlying 2,513,195
       warrants issued to QAT II in connection with certain loans
       made to the company.

Following the offering, the shares outstanding will increase from
89,171,658 to 136,721,018 assuming full exercise of the warrants.

The securities in the offering were issued to the applicable
selling stockholders in private placement or other exempt
transactions completed prior to the filing of the registration
statement of which this prospectus is a part.

The Company will not receive any proceeds from the rsale of the
common stock.  However, the Company may receive up to a maximum of
approximately $66 million of proceeds from the exercise of the
warrants held by certain selling stockholders, which proceeds the
Company would expect to use for general working capital.

A copy of the Prospectus is available for free at:

                http://ResearchArchives.com/t/s?70e8

                        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.

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.

                          *     *     *

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.


ELEPHANT TALK: Amends Form S-8 to File Exhibits
-----------------------------------------------
Elephant Talk Communications, Inc. filed with the Securities and
Exchange Commission on December 17, 2010, a Post-Effective
Amendment No. 2 to securities to be offered to employees in
employee benefit plans for the purpose of filing as an exhibit the
written consent of the company's independent registered public
accounting firm for the years ended December 31, 2008 and December
31, 2009.

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

             http://ResearchArchives.com/t/s?7179

As reported in the Troubled Company Reporter on Dec. 23, 2010,
Elephant Talk filed a Form S-8 Registration Statement regarding
the Company's offer to sell 1 million shares of common stock under
the 2006 Non-Qualified Stock and Option Compensation Plan.

                        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.

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.

                          *     *     *

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.


EMMIS COMMUNICATIONS: JSA to Prosecute Claims vs. Alden Global
--------------------------------------------------------------
On December 24, 2010, Emmis Communications Corporation entered
into an agreement with Bose McKinney & Evans, LLP, and JS
Acquisition, LLC, a company wholly-owned by Emmis' Chairman and
CEO Jeffrey H. Smulyan for the purpose of coordinating the
prosecution of certain litigation by JSA against Alden Global
Distressed Opportunities Master Fund, L.P., Alden Global Value
Recovery Master Fund, L.P., and Alden Media Holdings, LLC relating
to the going private transaction in which Emmis, JSA and Alden
participated earlier this year.

Under the terms of the agreement, Bose is representing both Emmis
and JSA in connection with the Litigation.  Emmis has agreed to
initially invest up to $200,000 in support of the prosecution of
JSA's claim in exchange for first recoupment of 150% of the amount
invested from any JSA recovery.  The investment by Emmis was
unanimously approved by Emmis' Board of Directors, including all
of its independent directors.

                           About Emmis

Headquartered in Indianapolis, Indiana, Emmis Communications
Corporation -- http://www.emmis.com/-- owns and operates radio
stations and magazine publications in the U.S. and in Europe.

At February 28, 2010, the Company had $498,168,000 in total
assets; $487,246,000 in total liabilities and $140,459,000 in
Series A Cumulative Convertible Preferred Stock; and a
shareholders' deficit of $178,959,000.  At February 28, 2010, the
Company had non-controlling interests of $49,422,000 and total
deficit of $129,537,000.

As of April 15, 2010, the Company had not paid the Preferred Stock
dividend for six consecutive quarterly periods.

                           *     *     *

In April 2009, Moody's cut its corporate family rating on the
Company to 'Caa2'.

In May 2009, S&P raised its corporate credit rating on the Company
to 'CCC+'.  In June, S&P withdrew the 'CCC+' Corp. Credit Rating
at the Company's request.

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


ENCORIUM GROUP: Delisted From NASDAQ Stock Market
-------------------------------------------------
In a Form 25 filing with the Securities and Exchange Commission on
December 20, 2010, Encorium Group Inc. notified the Commission of
the removal of its common stock from listing or registration under
the NASDAQ Stock Market LLC.

                       About Encorium Group

Wayne, Pa.-based Encorium Group, Inc. (Nasdaq: ENCO) is a clinical
research organization (CRO) that engages in the design and
management of complex clinical trials for the pharmaceutical,
biotechnology and medical device industries.  The Company was
initially incorporated in August 1998 in Nevada.  In June 2002,
the Company changed its  state of incorporation to Delaware.  In
November 2006, the Company expanded its international operations
with the acquisition of its wholly-owned subsidiary, Encorium Oy,
a CRO founded in 1996 in Finland, which offers clinical trial
services to the pharmaceutical and medical device industries.
Since 2006 the Company has conducted substantially all of its
European operations through Encorium Oy and its wholly-owned
subsidiaries located in Denmark, Estonia, Sweden, Lithuania,
Romania, Germany and Poland.

On July 16, 2009, the Company sold substantially all of the assets
relating to the Company's U.S. line of business to Pierrel
Research USA, Inc., the result of which the Company no longer has
any employees or significant operations in the United States.

The Company's balance sheet as of June 30, 2010, showed
US$10.0 million in total assets, US$10.6 million in total
liabilities, and a stockholders' deficit of US$619,663.


ENERGY FUTURE: Offers $1.06-Bil. Senior Secured Notes Due 2020
--------------------------------------------------------------
In a Form S-1 filing with the Securities and Exchange Commission
on December 17, 2010, Energy Future Holdings Corp. said that it is
offering $1,060,757,000 10.000% Senior Secured Notes due 2020.

Interest on the 10.000% Senior Secured Notes due 2020 is payable
on January 15 and July 15 of each year.  The notes accrue interest
at the rate of 10.000% per annum.  The notes will mature on
January 15, 2020.

EFH Corp. may redeem any of the notes beginning on January 15,
2015 at the redemption prices set forth in this prospectus.  EFH
Corp. may also redeem any of the notes at any time prior to
January 15, 2015 at a price equal to 100% of their principal
amount, plus accrued and unpaid interest and a "make-whole"
premium.  In addition, before January 15, 2013, EFH Corp. may
redeem up to 35% of the aggregate principal amount of the notes
using the proceeds from certain equity offerings at the redemption
price set forth in this prospectus.

The notes are senior obligations of EFH Corp. and rank equally in
right of payment with all senior indebtedness of EFH Corp.  The
notes are effectively subordinated to any indebtedness of EFH
Corp. secured by assets of EFH Corp. to the extent of the value of
the assets securing such indebtedness and structurally
subordinated to all indebtedness and other liabilities of EFH
Corp.'s non-guarantor subsidiaries and any other unrestricted
subsidiaries.  The notes are senior in right of payment to any
future subordinated indebtedness of EFH Corp.

Energy Future Competitive Holdings Company and Energy Future
Intermediate Holding Company LLC, direct, wholly owned
subsidiaries of EFH Corp., jointly and severally guarantee the
notes.  The guarantee from EFIH is secured, equally and ratably
with certain outstanding indebtedness of EFH Corp. and EFIH, by
the pledge of all membership interests and other investments EFIH
owns or holds in Oncor Electric Delivery Holdings Company LLC or
any of Oncor Holdings' subsidiaries.  The guarantee from EFCH is
unsecured.  The guarantees are senior obligations of each
guarantor and rank equally in right of payment with all existing
and future senior indebtedness of each guarantor.  The guarantee
from EFIH is effectively senior to all unsecured indebtedness of
EFIH to the extent of the value of the Collateral.  The guarantees
are effectively subordinated to all secured indebtedness of each
guarantor secured by assets other than the Collateral to the
extent of the value of the assets securing such indebtedness, and
are structurally subordinated to any existing and future
indebtedness and liabilities of EFH Corp.'s subsidiaries that are
not guarantors.

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

               http://ResearchArchives.com/t/s?717b

                        About Energy Future

Energy Future Holdings Corp. is a privately held diversified
energy holding company with a portfolio of competitive and
regulated energy businesses in Texas.  Oncor, an 80%-owned entity
within the EFH group, is the largest regulated transmission and
distribution utility in Texas.  The Company delivers electricity
to roughly three million delivery points in and around Dallas-Fort
Worth.

EFH Corp. was created in October 2007 in a $45 billion leveraged
buyout of Texas power company TXU in a deal led by private-equity
companies Kohlberg Kravis Roberts & Co. and TPG Inc.

                          *     *     *

As reported by the Troubled Company Reporter on August 19, 2010,
Fitch Ratings downgraded the Issuer Default Ratings of Energy
Future Holdings Corp. and its subsidiaries Energy Future
Intermediate Holding Company LLC, Texas Competitive Electric
Holdings Company LLC, and Energy Future Competitive Holdings
Company by one notch to 'CCC' from 'B-'.

The downgrades of the IDRs of EFH and its non-ring-fenced
subsidiaries reflect large debt maturities occurring in 2014,
over-leveraged capital structure, cash flow dependence on the
forward natural gas NYMEX curve, which has been consistently
moving down since mid-2008, and the likely outcome of future debt
exchanges and amend-and-extend bank facility negotiations.  In
Fitch's view, potential defaults in 2011-2012 are considered more
likely to result from coercive debt exchanges and unlikely to
result from payment defaults.

The TCR on August 19 also reported that Moody's Investors Service
changed the probability of default rating for Energy Future
Holdings to Caa2/LD from Ca following the completion of a debt
restructuring which Moody's views as a distressed exchange.  EFH's
Caa1 CFR and SGL-4 liquidity rating are affirmed.  The rating
outlook remains negative.

EFH recently executed a debt restructuring which involved an
exchange of its 10.875% senior unsecured (guaranteed) notes due
2017 and its 11.25% / 12.00% senior unsecured PIK Toggle
(guaranteed) notes due 2017 for new 10.00% senior secured notes
due 2020 issued at EFIH, plus approximately $500 million in cash,
plus accrued interest.  These events had the effect of allowing
EFH to reduce its overall net debt by approximately $1.0 billion
and extend a portion of its maturities.  The transaction
crystallized losses for investors of approximately 30%.  Taken as
a whole, Moody's views the transaction as a distressed exchange
and has classified this transaction as a limited default by
appending an LD designation to the PDR.  In approximately three
business days, Moody's will remove the LD designation and
reposition the PDR to Caa2.

The affirmation of EFH's Caa1 CFR considers the very weak
financial profile, untenable capital structure, questionable long-
term business plan and material operating headwinds for the
company.  Moody's believes EFH has very little financial
flexibility.


FAIRPOINT COMMUNICATIONS: Wants Jan. 13 Phase 2 Plan Hearing
------------------------------------------------------------
BankruptcyData.com reports that FairPoint Communications is asking
the Bankruptcy Court for a continued hearing on confirmation of
its Chapter 11 Plan.  FairPoint wants the confirmation hearing
reconvened on January 13, 2011, with objections to confirmation of
the Plan due on January 11, 2011.

As reported in yesterday's edition of the Troubled Company
Reporter, FairPoint Communications said it has reached agreement
with a Vermont regulatory board on a settlement that will allow
the company to complete the confirmation hearing on its
reorganization plan, according to a December 28 filing with the
Securities and Exchange Commission.

As a condition precedent to the effectiveness of the Company's
plan of reorganization under the Bankruptcy Code, the Company
needed to obtain certain regulatory approvals from various
regulatory authorities, including the Vermont Public Service
Board. The Vermont Board did not initially provide its requisite
approval. The Company made efforts to address certain issues that
were raised by the Vermont Board and submitted a renewed request
for the Vermont Board to provide its approval. On December 23,
2010, the Vermont Board entered an order providing its requisite
approval.

                 About FairPoint Communications

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

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

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

Andrews Kurth is counsel to the Official Committee of Unsecured
Creditors.  Altman Vilandrie is the operational consultant to the
Creditors' Committee.  Verrill Dana is the Creditors' Committee's
special regulatory counsel.  Jeffries serves as the Creditors'
Committee's financial advisor.


FIRST DATA: Exchange Offer Cues Fitch to Put 'CCC/RR6' Ratings
--------------------------------------------------------------
Following the completion of First Data Corp.'s offer to exchange
$6 billion of senior unsecured notes for $3 billion of new senior
unsecured notes and $3 billion of junior secured notes, Fitch
Ratings has assigned these ratings to FDC:

  -- $1 billion 8.75%/10% PIK Toggle junior secured notes due 2022
     'CCC/RR6';

  -- $2 billion 8.25% junior secured notes due 2021 'CCC/RR6';

  -- $3 billion 12.625% senior unsecured notes due 2021 'CCC/RR6'.

FDC accepted for exchange approximately an even amount ($3 billion
each) of its senior unsecured cash pay and senior unsecured PIK
notes, both due 2015.  Consequently, the company's debt structure
as of Sept. 30, 2010, but pro forma for this exchange is:

   i) $11.9 billion outstanding under a secured term loan B
      maturing September 2014;

  ii) $784 million in 9.875% senior unsecured notes maturing
      September 2015;

iii) $675 million in 10.55% notes maturing September 2015 with
      mandatory PIK interest through September 2011 and cash
      interest thereafter (these notes have accrued approximately
      $75 million in additional PIK interest prior to the exchange
      completion);

  iv) $2.5 billion of 11.25% senior subordinated notes maturing
      September 2016;

   v) $510 million in 8.875% senior secured notes due August 2020;

  vi) $2 billion 8.25% junior secured notes due 2021;

vii) $3 billion 12.625% senior unsecured notes due 2021;

viii) $1 billion 8.75%/10% PIK Toggle junior secured notes due
      2022.

Total debt outstanding as of Sept. 30, 2010, was $22.7 billion.
In addition, the parent company of FDC, First Data Holdings, Inc.,
has outstanding $1 billion original value senior unsecured PIK
notes due 2016.

In addition, Fitch has affirmed these ratings for FDC:

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

  -- $2 billion senior secured revolving credit facility due 2013
     at 'BB-/RR2';

  -- $11.9 billion senior secured term loan B due 2014 at 'BB-
     /RR2';

  -- $510 million 8.875% senior secured notes due 2020 at 'BB-
     /RR2';

  -- Senior unsecured notes at 'CCC/RR6';

  -- Senior subordinated notes at 'CC/RR6'.

The Rating Outlook is Stable.

Total liquidity as of Sept. 30, 2010 was solid and consisted
of $442 million in cash and $1.7 billion available under a
$2 billion senior secured RCF that expires September 2013.
The reduced availability under the RCF partially reflects
approximately $230 million which was provided by an affiliate
of Lehman Brothers and is no longer available to be borrowed
upon in addition to letters of credit currently outstanding.
Approximately $203 million of cash is held by Bank of America
Merchant Services and IPS (a discontinued business segment)
and is not available for general corporate purposes.

The Recovery Ratings for FDC reflect Fitch's recovery expectations
under a distressed scenario, as well as Fitch's expectation that
the enterprise value of FDC, and hence recovery rates for its
creditors, will be maximized in a restructuring scenario (as a
going concern) rather than a liquidation scenario.  In deriving a
distressed enterprise value, Fitch applies a 15% discount to FDC's
estimated operating EBITDA (adjusted for equity earnings in
affiliates) of approximately $2.2 billion for the latest 12 months
(LTM) ended Sept. 30, 2010 which is equivalent to Fitch's estimate
of FDC's total interest expense and maintenance capital spending.
Fitch then applies a 6x distressed EBITDA multiple, which
considers FDC's prior public trading multiple and that a stress
event would likely lead to multiple contraction.  As is standard
with Fitch's recovery analysis, the revolver is fully drawn and
cash balances fully depleted to reflect a stress event.  The 'RR2'
for FDC's secured bank facility and senior secured notes reflects
Fitch's belief that 71%-90% recovery is realistic.  The 'RR6' for
FDC's second lien, senior and subordinated notes reflect Fitch's
belief that 0%-10% recovery is realistic.  The 'CC/RR6' rating for
the subordinated notes reflects the minimal recovery prospects and
inherent subordination in a recovery scenario.


FIRST YORKSHIRE: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: First Yorkshire Holdings, Inc.
        7318 Topanga Canyon Boulevard
        Canoga Park, CA 91303

Bankruptcy Case No.: 10-26058

Chapter 11 Petition Date: December 23, 2010

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

Debtor's Counsel: Moises S. Bardavid, Esq.
                  16133 Ventura Boulevard, 7th Floor
                  Encino, CA 91436
                  Tel: (818) 377-7454
                  Fax: (818) 377-7455
                  E-mail: mbardavid@hotmail.com

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

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

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

The petition was signed by Oscar Borderlow, vice president.


FRANCIS ESSIEN: Case Summary & 19 Largest Unsecured Creditors
-------------------------------------------------------------
Joint Debtors: Francis A. Essien
               Mfon A. Essien
               1055 Lowry Ranch Road
               Corona, CA 92881

Bankruptcy Case No.: 10-51391

Chapter 11 Petition Date: December 27, 2010

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

Judge: Thomas B. Donovan

Debtors' Counsel: Anthony Egbase, Esq.
                  LAW OFFICES OF ANTHONY O. EGBASE & ASSOC
                  350 S. Figueroa Street, Suite 189
                  Los Angeles, CA 90071
                  Tel: (213) 620-7070
                  E-mail: info@anthonyegbaselaw.com

Scheduled Assets: $2,880,647

Scheduled Debts: $2,015,356

A list of the Joint Debtors' 19 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-51391.pdf


GARY ALLSHOUSE: Objection Deadline to Claim of Exemptions Extended
------------------------------------------------------------------
Bankruptcy Judge Nancy V. Alquist signed off on a stipulation and
consent order between Gary Allan Allshouse and the United States
Trustee extending the deadline established by Bankruptcy Rule
4003(b) for any party-in-interest to object to the Debtor's claim
of exemptions (Schedule C).  The agreement is done to avoid
unnecessary costs of litigation and because the U.S.Trustee and
the Debtor disagree as to whether the Debtor's exemption in
certain bank accounts or proceeds is proper.  The deadline for any
party-in-interest, trustee, or the U.S.Trustee to file an
objection to the Debtor's claim of exemptions will be the latter
of the date of confirmation of a plan or, if this case is re-
converted to chapter 7, the deadline that applies after the
chapter 7 meeting of creditors.

A copy of the Stipulation and Consent Order, dated December 27,
2010, is available at http://is.gd/jGkPEfrom Leagle.com.

The case is Gary Allan Allshouse (Bankr. D. Md. Case No.
10-33492).  The Debtor is represented by:

          Tate M. Russack, Esq.
          RUSSACK ASSOCIATES LLC
          100 Severn Avenue Suite 110
          Annapolis, MD 21403
          Telephone: (410) 505-4150


GENERAL MOTORS: Major Wall Street Banks Bullish on Shares
---------------------------------------------------------
The Wall Street Journal's Sharon Terlep and Dow Jones Newswires'
Brendan Conway report that General Motors Co. won high marks from
major Wall Street banks Tuesday as they touted overseas growth and
a made-over balance sheet as reasons to buy GM stock.

The report relates that in a series of bullish reports from banks
involved in GM's initial public stock offering last month, the
analysts predicted GM shares would hit anywhere from the low $40s
to $50 within the next year.  GM stock has been trading in the
low- to mid-$30s and closed Tuesday at $35.32 in New York Stock
Exchange trading, up 72 cents.

According to Ms. Terlep and Mr. Conway, even the most optimistic
prediction would have the U.S. government losing money on its
$50 billion bailout of the auto maker last year.  To break even,
the U.S. must sell its remaining GM shares at around $53 each.

Ms. Terlep and Mr. Conway relate that the bank reports come as GM
and its stock underwriters are increasingly optimistic that the
U.S. government will sell most or all of its remaining stake next
year, rather than offloading shares gradually over the next few
years.  The U.S. Treasury reduced its GM stake to about 33% from
61% in the $23.1 billion 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 September 30, 2010, GM had US$137.238 billion in total assets,
US$106.522 billion in total liabilities, US$6.998 billion in
preferred stock, $971 million in non-controlling interest, and
US$23.718 billion in total 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)


GREAT ATLANTIC & PACIFIC: Aletheia Has 10.1% Equity Stake
---------------------------------------------------------
Aletheia Research & Management, Inc., disclosed in a Schedule 13D
filing with the U.S. Securities and Exchange Commission dated
December 22, 2010, that it beneficially owns 5,682,176 shares of
The Great Atlantic & Pacific Tea Co. common stock, which
represents 10.10% of the total outstanding shares of A&P common
stock.

A&P has 56,280,414 shares of common stock outstanding as reported
in its Quarterly Report on Form 10-Q for the quarter ended
September 11, 2010.

Aletheia has sole power to vote and sole power to dispose or to
direct the disposition of 5,682,176 shares of the A&P common
stock.

Ann Marie Swanson, Chief Compliance Officer at Aletheia,
discloses that Aletheia owns 5,682,176 shares of the A&P common
stock on behalf of managed accounts and partnerships with respect
to which Aletheia serves as general partner.  She adds that the
managed accounts and partnerships have collectively paid
$48,369,903 from their working capital for the shares.

                            About A&P

Founded in 1859, Montvale, New Jersey-based Great Atlantic &
Pacific (A&P) is a leading supermarket retailer, operating under a
variety of well-known trade names, or "banners" across the mid-
Atlantic and Northeastern United States.  It operates 395
supermarkets, combination food and drug stores, beer, wine, and
liquor stores, and limited assortment food stores in Connecticut,
Delaware, Massachusetts, Maryland, New Jersey, New York,
Pennsylvania, Virginia, and the District of Columbia.  "Banners"
include A&P (101 stores), Food Basics (12 stores), Pathmark (128
stores), Super Fresh (57 stores), The Food Emporium (16 stores),
and Waldbaum's (59 stores).

A&P employs roughly 41,000 employees, including roughly 28,000
part-time employees.  Roughly 95% of the workforce are covered by
collective bargaining agreements.

The Great Atlantic & Pacific Tea Company, Inc., and its affiliates
filed petitions under Chapter 11 of the U.S. Bankruptcy Code on
December 12, 2010 (Bankr. S.D.N.Y. Case No. 10-24549) in White
Plains.

As of September 11, 2010, the Debtors reported total assets of
$2.5 billion and liabilities of $3.2 billion.

Paul M. Basta, Esq., James H.M. Sprayregen, Esq., and Ray C.
Schrock, Esq., at Kirkland & Ellis, LLP, in New York, and James J.
Mazza, Jr., Esq., at Kirkland & Ellis LLP, in Chicago, Illinois,
serve as counsel to the Debtors.  Kurtzman Carson Consultants LLC
is the claims and notice agent.  Lazard Freres & Co. LLC is the
financial advisor.  Huron Consulting Group is the management
consultant.

Bankruptcy Creditors' Service, Inc., publishes GREAT ATLANTIC &
PACIFIC BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11
proceeding undertaken by A&P and its affiliates
(http://bankrupt.com/newsstand/or 215/945-7000).


GREAT ATLANTIC & PACIFIC: Among Firms With Lowest Price/LQA Sales
-----------------------------------------------------------------
The Great Atlantic & Pacific Tea Co. is among the five companies
in the Food Retail industry with the lowest Price To Last Quarter
Annualized (LQA) Sales ratios, according to a December 20, 2010
report by Zacks.com.

Price/LQA Sales is a valuable metric used to compare comparable
companies using the most recent sales data on an annualized
basis.  Generally, the lower the ratio, the more undervalued the
company.

Zacks.com reported that A&P has the lowest with a Price To Last
Quarter Annualized Sales of 0.01x, followed by Winn-Dixie Stores
with 0.04x and Supervalu with 0.05x.  The Pantry and Susser
Holdings follow with a Price To Last Quarter Annualized Sales of
0.06x and 0.07x, respectively.

                            About A&P

Founded in 1859, Montvale, New Jersey-based Great Atlantic &
Pacific (A&P) is a leading supermarket retailer, operating under a
variety of well-known trade names, or "banners" across the mid-
Atlantic and Northeastern United States.  It operates 395
supermarkets, combination food and drug stores, beer, wine, and
liquor stores, and limited assortment food stores in Connecticut,
Delaware, Massachusetts, Maryland, New Jersey, New York,
Pennsylvania, Virginia, and the District of Columbia.  "Banners"
include A&P (101 stores), Food Basics (12 stores), Pathmark (128
stores), Super Fresh (57 stores), The Food Emporium (16 stores),
and Waldbaum's (59 stores).

A&P employs roughly 41,000 employees, including roughly 28,000
part-time employees.  Roughly 95% of the workforce are covered by
collective bargaining agreements.

The Great Atlantic & Pacific Tea Company, Inc., and its affiliates
filed petitions under Chapter 11 of the U.S. Bankruptcy Code on
December 12, 2010 (Bankr. S.D.N.Y. Case No. 10-24549) in White
Plains.

As of September 11, 2010, the Debtors reported total assets of
$2.5 billion and liabilities of $3.2 billion.

Paul M. Basta, Esq., James H.M. Sprayregen, Esq., and Ray C.
Schrock, Esq., at Kirkland & Ellis, LLP, in New York, and James J.
Mazza, Jr., Esq., at Kirkland & Ellis LLP, in Chicago, Illinois,
serve as counsel to the Debtors.  Kurtzman Carson Consultants LLC
is the claims and notice agent.  Lazard Freres & Co. LLC is the
financial advisor.  Huron Consulting Group is the management
consultant.

Bankruptcy Creditors' Service, Inc., publishes GREAT ATLANTIC &
PACIFIC BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11
proceeding undertaken by A&P and its affiliates
(http://bankrupt.com/newsstand/or 215/945-7000).


GREAT ATLANTIC & PACIFIC: Won't Appeal NYSE Regulation Suspension
-----------------------------------------------------------------
In a regulatory filing with the U.S. Securities and Exchange
Commission, The Great Atlantic & Pacific Tea Company Inc. said
that it does not intend to take any action to appeal the decision
of the NYSE Regulation Inc. to suspend its common stock and its 9
3/8% Senior Quarterly Interest Bonds due August 1, 2039.

It is expected that A&P's securities will be delisted after
completion by the NYSE Regulation of application to the
Securities and Exchange Commission, according to the filing dated
December 17, 2010.

NYSE Regulation announced on December 13, 2010, that it
determined that the listing on the New York Stock Exchange of the
company's common stock and the 9 3/8% Senior Quarterly Interest
Bonds due August 1, 2039, should be suspended immediately.  It
said that A&P is no longer suitable for listing in light of its
Chapter 11 filing on December 12, 2010.  The bankruptcy filing is
considered sufficient grounds for the commencement of delisting
procedures.

In its announcement regarding the suspension, NYSE Regulation
noted the uncertainty as to the timing and outcome of the
bankruptcy process as well as the ultimate effect of this process
on A&P's common stockholders.

                            About A&P

Founded in 1859, Montvale, New Jersey-based Great Atlantic &
Pacific (A&P) is a leading supermarket retailer, operating under a
variety of well-known trade names, or "banners" across the mid-
Atlantic and Northeastern United States.  It operates 395
supermarkets, combination food and drug stores, beer, wine, and
liquor stores, and limited assortment food stores in Connecticut,
Delaware, Massachusetts, Maryland, New Jersey, New York,
Pennsylvania, Virginia, and the District of Columbia.  "Banners"
include A&P (101 stores), Food Basics (12 stores), Pathmark (128
stores), Super Fresh (57 stores), The Food Emporium (16 stores),
and Waldbaum's (59 stores).

A&P employs roughly 41,000 employees, including roughly 28,000
part-time employees.  Roughly 95% of the workforce are covered by
collective bargaining agreements.

The Great Atlantic & Pacific Tea Company, Inc., and its affiliates
filed petitions under Chapter 11 of the U.S. Bankruptcy Code on
December 12, 2010 (Bankr. S.D.N.Y. Case No. 10-24549) in White
Plains.

As of September 11, 2010, the Debtors reported total assets of
$2.5 billion and liabilities of $3.2 billion.

Paul M. Basta, Esq., James H.M. Sprayregen, Esq., and Ray C.
Schrock, Esq., at Kirkland & Ellis, LLP, in New York, and James J.
Mazza, Jr., Esq., at Kirkland & Ellis LLP, in Chicago, Illinois,
serve as counsel to the Debtors.  Kurtzman Carson Consultants LLC
is the claims and notice agent.  Lazard Freres & Co. LLC is the
financial advisor.  Huron Consulting Group is the management
consultant.

Bankruptcy Creditors' Service, Inc., publishes GREAT ATLANTIC &
PACIFIC BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11
proceeding undertaken by A&P and its affiliates
(http://bankrupt.com/newsstand/or 215/945-7000).


GREENBRIER COS: WL Ross Group Discloses 11.7% Equity Stake
----------------------------------------------------------
In an amended Schedule 13D filing with the Securities and Exchange
Commission on December 20, 2010, WL Ross Group, L.P. disclosed
that it beneficially owns 3,298,518 shares of The Greenbrier
Companies, Inc. common stock, without par value, representing
11.7% of the shares outstanding.  The number of shares of the
Company's common stock, without par value, outstanding on June 29,
2010 was 21,872,320 shares.

Other affiliates of WL Ross Group also disclosed beneficial
ownership of common stock:

                                            Shares        Equity
                                      Beneficially Owned  Stake
                                      ------------------  ------
WLR Recovery Fund IV, L.P.                  3,285,324    11.7%
WLR IV Parallel ESC, L.P.                      13,194    0.05%
WLR Recovery Associates IV LLC              3,298,518    11.7%
Invesco WLR IV Associates LLC                  13,194    0.05%
Invesco Private Capital, Inc.                  13,194    0.05%
El Vedado, LLC                              3,298,518    11.7%
Wilbur L. Ross, Jr.                         3,298,518    11.7%

                       About Greenbrier Cos.

Based in Lake Oswego, Oregon, The Greenbrier Companies Inc.
operates in three primary business segments: manufacturing,
refurbishment and parts, and leasing and services.  The
manufacturing segment, operating from four facilities in the
United States, Mexico and Poland, produces double-stack intermodal
railcars, conventional railcars, tank cars and marine vessels.
The refurbishment & parts segment performs railcar repair,
refurbishment and maintenance activities in the United States and
Mexico.  The leasing & services segment owns roughly 8,000
railcars and provides management services for roughly 225,000
railcars.

The Company's balance sheet at Aug. 31, 2010, showed $1.0 billion
in total assets, $2.63 million in revolving notes, $181.64 million
in accounts payable, $81.14 million in deferred income taxes,
$11.38 million in deferred revenue, $498.70 million in notes
payable, and stockholders' equity of $297.40 million

                           *     *     *

As reported by the Troubled Company Reporter on August 19, 2010,
Moody's Investors Service raised its Speculative Grade Liquidity
Rating for The Greenbrier Companies to SGL-3 from SGL-4.  At the
same time, Moody's affirmed the company's existing ratings,
including the corporate family rating of Caa1.  Greenbrier's
rating outlook is negative in consideration of the continued
sluggish demand for new railcars and the company's need to address
certain refinancing needs.


HAWAIIAN TELCOM: Secured Lenders Start Trading New Equity
---------------------------------------------------------
Sophie Cocke, writing for Pacific Business News, reports that
Hawaiian Telcom Communications, Inc., began publicly trading its
stock last week.  Pacific Business News notes Hawaiian Telcom
hasn't issued a new stock offering yet.  Instead, the currently
traded shares are comprised of equity from secured lenders who
have converted their former loans to Hawaiian Telcom into shares
that can be traded over the counter on the so-called "pink
sheets."

Pacific Business News relates the number of secured lenders
totaled about 100, according to Hawaiian Telcom spokesman, Scott
Simon, who did not disclose the total sum of shares being offered
or how many lenders had chosen to sell shares.  However, Hawaiian
Telcom told Pacific Business News in September 2010 that the total
amount of equity for secured lenders amounted to about
$160 million.

The report relates the shares began selling at $20 on December 23.

Pacific Business News says Hawaiian Telcom filed an application
with the Nasdaq to begin selling shares, though the company must
attract an undisclosed number of investors before it can fulfill
the minimum requirements for trading on a major public stock
exchange.

Pacific Business News says the initial offering is hopefully the
prelude to a future IPO.

                       About Hawaiian Telcom

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

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

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

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

Judge King entered on December 30, 2009, an order confirming a
plan of reorganization for Hawaiian Telcom.  On October 28, 2010,
Hawaiian Telcom declared the plan effective and emerged from its
Chapter 11 proceedings.


HERCULES OFFSHORE: Board Committee OKs Incentives for CEO
---------------------------------------------------------
On December 20, 2010, the Compensation Committee of the Board of
Directors of Hercules Offshore Inc. approved retention and
incentive arrangements for the Company's Chief Executive Officer,
John T. Rynd, consisting of three separate awards.

Vesting under each award is conditioned upon Mr. Rynd's continuous
employment with the Company from the date of grant until the
earlier of a specified vesting date or a Change in Control of the
Company.  Subject to the satisfaction of all vesting requirements,
awards are payable in cash based on the product of the number of
shares of Common Stock specified in the award, the percentage of
that number of shares that vest under the award and the average
price of the Common Stock for the 90 days prior to the date of
vesting.

The grant date of each of the three awards is January 1, 2011.
Vesting of any award and the amount payable under any vested award
do not affect vesting or the amount payable under any of the other
awards.  Subject to vesting, all awards are payable in cash within
thirty days of vesting. No shares of common stock are issuable
under any of the awards.

The first award is a Special Retention Agreement by and between
the Company and Mr. Rynd , which provides for a cash payment based
on 500,000 shares of Common Stock, subject to vesting.  Upon
satisfaction of vesting requirements, 100% of the amount under the
Agreement becomes vested on December 31, 2013.  If the
requirements necessary for 100% vesting of this award are not met,
no amounts become vested and no amount is payable.  The amount
payable in cash under the first award shall not exceed $5,000,000.

The second and third awards are Performance Awards under the
Company's 2004 Long-term Incentive Plan, as amended in 2007.  Each
Performance Award provides for a cash payment, subject to vesting,
based on 250,000 shares of Common Stock. Upon satisfaction of
vesting requirements, 100% of the first Performance Award becomes
vested on December 31, 2013, and 100% of the second Performance
Award becomes vested on March 31, 2014.  Under each Performance
Award, vesting is subject to the further requirement that the
Average Share Price is at least $5.00.

Subject to the satisfaction of the vesting requirements, the
percentage of the Performance Award vested shall be equal to (1)
the Average Share Price or $10.00, whichever is less, divided by
(2) $10.00, and the Average Share Price for calculating the amount
payable under the Performance Award is limited to $10.00.  If the
requirements necessary for vesting of a Performance Award are met,
the amount payable in cash under each of the second and third
awards shall be not less than $625,000 and not more than
$2,500,000.

                      About Hercules Offshore

Houston-based Hercules Offshore, Inc. (NASDAQ: HERO) --
http://www.herculesoffshore.com/-- provides shallow-water
drilling and marine services to the oil and natural gas
exploration and production industry in the United States, Gulf of
Mexico and internationally.  The Company provides these services
to integrated energy companies, independent oil and natural gas
operators and national oil companies.  Its international offices
are in Angola, Grand Cayman, India, Malaysia, Mexico, Nigeria,
Qatar, and Saudi Arabia.

In November 2010, Moody's Investors Service downgraded the
Corporate Family Rating of Hercules Offshore Inc. and the
Probability of Default Rating to Caa1 from B2.  Moody's also
downgraded Hercules' 10.5% senior secured notes due 2017, its
senior secured revolving credit facility due 2012, and its senior
secured term loan B due 2013, all to Caa1 with LGD3, 45%.  The
outlook remains negative.

"The inability of Hercules to generate meaningful free cash flow
despite limited reinvestment in its aging fleet of rigs is cause
for concern," commented Stuart Miller, Moody's Senior Analyst.
"Without a significant de-leveraging of its balance sheet,
Hercules is following a path that could lead to financial hardship
at the first sign of a market softening."  Hercules' Caa1 CFR
rating reflects its highly leveraged balance sheet and limited
ability to generate free cash flow.  The Caa1 rating on the senior
secured notes reflects their pari passu secured position in
Hercules' capital structure relative to the senior secured credit
facilities.


HOLOGIC INC: S&P Assigns 'BB+' Senior Unsecured Debt Rating
-----------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned its
unsolicited 'BB+' preliminary senior unsecured debt rating to the
debt securities and its 'BB-' preliminary preferred stock rating
to preferred stock registered under Bedford, Mass.-based Hologic
Inc.'s well-known seasoned issuer shelf registration.  The
unsolicited corporate credit rating is 'BB+'; the rating outlook
is stable.

The high-speculative-grade rating on manufacturer and supplier of
diagnostic, surgical, and medical imaging equipment and products
Hologic Inc. reflects expectations of modest growth as the economy
has stabilized.   Its fair business risk profile incorporates the
company's sensitivity of capital goods sales to economic
cyclicality, and also reflects technology risk, competitive
threats, and some exposure to reimbursement challenges.  These
risks more than offset the company's well-established positions in
women's health markets, moderate product and geographic diversity,
and the growing contribution of consumables as a percentage of
sales.  A significant, but rapidly improving financial risk
profile, reflects deleveraging that has resulted largely from debt
reduction.   Liquidity is strong.

                    Ratings List (Unsolicited)

                           Hologic Inc.

          Corporate credit rating          BB+/Stable/--

                         Ratings Assigned

           Senior unsecured debt            BB+ (prelim)
           Preferred stock                  BB- (prelim)

This unsolicited rating(s) was initiated by Standard & Poor's.  It
may be based solely on publicly available information and may or
may not involve the participation of the issuer.  Standard &
Poor's has used information from sources believed to be reliable
based on standards established in S&P's Credit Ratings Information
and Data Policy but does not guarantee the accuracy, adequacy, or
completeness of any information used.


HUMBERTO TRIANA: Case Summary & 19 Largest Unsecured Creditors
--------------------------------------------------------------
Joint Debtors: Humberto C. Triana
               Maria C. Triana
               39849 Longleaf Street
               Temecula, CA 92591

Bankruptcy Case No.: 10-51160

Chapter 11 Petition Date: December 23, 2010

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

Debtors' Counsel: Jennifer Urquizu, Esq.
                  AFFORDABLE LEGAL SOLUTIONS
                  42690 Rio Nedo, Suite F
                  Temecula, CA 92590
                  Tel: (951) 296-5492
                  Fax: (951) 639-6063
                  E-mail: lray@affordablels.com

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

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

A list of the Joint Debtors' 19 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-51160.pdf


INFOLOGIX INC: Files Information Statement on Stanley Merger
------------------------------------------------------------
InfoLogix, Inc., on Tuesday began circulating an Information
Statement Pursuant to Section 14(c) of the Securities Exchange Act
of 1934, related to its Agreement and Plan of Merger with Stanley
Black & Decker, Inc.

The Troubled Company Reporter reported the deal on December 20,
2010.  Stanley and InfoLogix entered into a definitive agreement
under which InfoLogix will be acquired by Stanley for $4.75 per
common share in cash.  The total transaction value is roughly
$61.2 million, including the assumption of debt, of which roughly
$22.1 million is currently outstanding and a portion of which is
convertible into shares of common stock of InfoLogix.

On December 15, 2010, Hercules Technology I, LLC and Hercules
Technology Growth Capital, Inc., which owned shares of Common
Stock representing roughly 70.1% of the outstanding shares of
Common Stock entitled to vote on the adoption of the Merger
Agreement, entered into a Written Consent and Voting Agreement
with Stanley, which agreement was also approved by the Board of
Directors for the purposes of Delaware's anti-takeover statute.
Hercules delivered a written consent adopting the Merger Agreement
and approving the transactions contemplated by the Merger
Agreement, including the Merger.  As a result, no further action
by any other InfoLogix stockholder is required to adopt the Merger
Agreement or to authorize the transactions contemplated by the
Merger Agreement.

InfoLogix presently has outstanding roughly $22.1 million of
indebtedness to Hercules.  In connection with the Merger Agreement
and pursuant to a Purchase and Sale Agreement, dated December 15,
2010, among Stanley, Hercules and HTI, which addresses the
treatment of all outstanding debt owed by InfoLogix to Hercules
and HTI's outstanding warrant to purchase shares of Common Stock,
immediately prior to the effective time of the Merger, Stanley
Black & Decker will purchase all of InfoLogix's indebtedness to
Hercules.  A copy of the Purchase and Sale Agreement is available
at http://is.gd/jDvQ2

Stanley is represented in the deal by:

          Robert M. Cattaneo, Esq.
          MILES & STOCKBRIDGE P.C.
          10 Light Street
          Baltimore, MD 21202
          Facsimile: (410) 822-5450
          E-mail: rcattaneo@milesstockbridge.com

Hercules Technology Growth Capital is represented by:

          Sandra J. Vrejan, Esq.
          MORGAN, LEWIS & BOCKIUS LLP
          225 Franklin Street
          Boston, MA 02110
          Facsimile: (617) 341-7701
          E-mail: svrejan@morganlewis.com

The transaction, which is subject to various closing conditions,
including the filing with the Securities and Exchange Commission
of an Information Statement on Schedule 14C and the distribution
of the Information Statement to all of InfoLogix's stockholders,
is expected to close early in the first quarter of 2011.

A full-text copy of the Information Statement is available
at http://is.gd/jDuBY

                   About Stanley Black & Decker

Stanley Black & Decker -- http://www.stanleyblackanddecker.com/--
an S&P 500 company, is a diversified global provider of hand
tools, power tools and related accessories, mechanical access
solutions and electronic security solutions, engineered fastening
systems, infrastructure solutions and more.

                        About Infologix

Hatboro, Pa.-based InfoLogix, Inc. (OTC QB: IFLG)
-- http://www.infologix.com/-- provides enterprise mobility
solutions for the healthcare and commercial markets.

The Company's balance sheet as of September 30, 2010, showed
$31.7 million in total assets, $34.7 million in total liabilities,
and a stockholders' deficit of $3.0 million.

As reported in the Troubled Company Reporter on April 21, 2010,
McGladrey & Pullen, LLP, in Blue Bell, Pa., 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, has negative working capital and an accumulated
deficit as of December 31, 2009.


INFOLOGIX INC: To Be Delisted From Nasdaq Effective Dec. 30
-----------------------------------------------------------
The Nasdaq Stock Market, Inc., has determined to remove from
listing the common stock of InfoLogix, Inc., effective at the
opening of the trading session on December 30, 2010.

Based on review of information provided by the Company, Nasdaq
Staff determined that the Company no longer qualified for listing
on the Exchange pursuant to Listing Rule 5550(b)(1).  The Company
was notified of the Staffs determination on April 20, 2010.

The Company appealed the determination to a Hearing Panel.  Upon
review of the information provided by the Company, the Panel issed
a decision dated July 8, 2010, granting the Company continued
listing pursuant to an exception through October 18, 2010, by
which date the Company was required to regain compliance with
Listing Rule 5550(b)(1).  However, the Company did not
regain compliance by that date.

On October 19, 2010, the Panel issued a final delisting
determination and notified the Company that trading in the
Company's securities would be suspended on October 21, 2010.  The
Company did not request a review of the Panels decision by the
Nasdaq Listing and Hearing Review Council.  The Listing Council
did not call the matter for review.

The Panel's Determination to delist the Company became final on
December 3, 2010.

                        About Infologix

Hatboro, Pa.-based InfoLogix, Inc. (OTC QB: IFLG)
-- http://www.infologix.com/-- provides enterprise mobility
solutions for the healthcare and commercial markets.

The Company's balance sheet as of September 30, 2010, showed
$31.7 million in total assets, $34.7 million in total liabilities,
and a stockholders' deficit of $3.0 million.

As reported in the Troubled Company Reporter on April 21, 2010,
McGladrey & Pullen, LLP, in Blue Bell, Pa., 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, has negative working capital and an accumulated
deficit as of December 31, 2009.

The TCR reported on December 20, 2010, that Stanley Black &
Decker, Inc., and InfoLogix entered into a definitive agreement
under which InfoLogix will be acquired by Stanley for $4.75 per
common share in cash.  The total transaction value is roughly
$61.2 million, including the assumption of debt, of which roughly
$22.1 million is currently outstanding and a portion of which is
convertible into shares of common stock of InfoLogix.


INFOLOGIX INC: Delisted From NASDAQ Stock Market
------------------------------------------------
In a Form 25 filing with the Securities and Exchange Commission on
December 20, 2010, InfoLogix Inc. notified the Commission of the
removal from listing or registration of its common stock from
NASDAQ Stock Market LLC.

                          About Infologix

Hatboro, Pa.-based InfoLogix, Inc. (OTC QB: IFLG)
-- http://www.infologix.com/-- provides enterprise mobility
solutions for the healthcare and commercial markets.

The Company's balance sheet as of September 30, 2010, showed
$31.7 million in total assets, $34.7 million in total liabilities,
and a stockholders' deficit of $3.0 million.

As reported in the Troubled Company Reporter on April 21, 2010,
McGladrey & Pullen, LLP, in Blue Bell, Pa., 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, has negative working capital and an accumulated
deficit as of December 31, 2009.


INNOLOG HOLDINGS: M. Kane Discloses 33.3% Equity Stake
------------------------------------------------------
In an amended Schedule 13D filing with the Securities and Exchange
Commission on December 20, 2010, Michael J. Kane, secretary and
treasurer at Innolog Holdings Corp., disclosed that he
beneficially owns 6,624,809 shares of Innolog Holdings Corporation
common stock representing 33.3% of the shares outstanding.

Mr. Kane specifically owns 205,527 shares of Common Stock,
1,102,769 shares of Series A Convertible Preferred Stock that may
be converted into 1,102,769 shares of Common Stock, warrants for
the purchase of 1,779,495 shares of Common Stock and an option for
the purchase of 2,000,000 shares of Common Stock, all owned
directly by the Reporting Person.  This number also includes
137,018 shares of Common Stock, 700,000 shares of Series A
Convertible Preferred Stock that may be converted into 700,000
shares of Common Stock and a warrant to purchase 700,000 shares of
Common Stock owned by FIVEK Investments, LP.  Mr. Kane is the
general partner of FIVEK Investments, LP and the person with
voting and investment control over its securities.

As of November 18, 2010, there were 13,629,774 shares of common
stock, $0.001 par value, outstanding.

In a Form 3 filing, Mr. Kane, disclosed that he directly
beneficially owns 205,527 and indirectly beneficially owns 137,018
shares of common stock of the company.

Mr. Kane beneficially owns an aggregate of 4,282,264 Series A
Convertible Preferred Stock derivative securities exercisable on
August 13, 2010.  These derivative securities were assumed by the
Company as part of the merger transaction.

In a separate Schedule 13D filing, Mr. Kane disclosed that he
beneficially owns 4,624,809 shares of common stock of Innolog
Holdings Corporation representing 25.8% of the shares outstanding.
This amount includes the following: 205,527 shares of Common
Stock, 1,102,769 shares of Series A Convertible Preferred Stock
that may be converted into 1,102,769 shares of Common Stock and
warrants for the purchase of 1,779,495 shares of Common Stock, all
owned directly by the Reporting Person.  This number also includes
137,018 shares of Common Stock, 700,000 shares of Series A
Convertible Preferred Stock that may be converted into 700,000
shares of Common Stock and a warrant to purchase 700,000 shares of
Common Stock owned by FIVEK Investments, LP.  Mr. Kane is the
general partner of FIVEK Investments, LP and the person with
voting and investment control over its securities.

FIVEK Investments, L.P. beneficially owns 1,537,018 shares
representing 10.2% of the shares outstanding.  This amount
includes the following: 137,018 shares of Common Stock, 700,000
shares of Series A Convertible Preferred Stock that may be
converted into 700,000 shares of Common Stock and a warrant to
purchase 700,000 shares of Common Stock.

Mr. Kane has 2 warrants, one of which was granted on March 31,
2009 for the purchase of 220,000 shares of the Issuer's Common
Stock and the other of which was granted on June 1, 2010 for the
purchase of 1,559,495 shares of the Issuer's Common Stock.  The
exercise prices for the warrant shares are $0.0227 and $0.50,
respectively.  The right to purchase the warrant shares will
terminate on March 31, 2016 and June 1, 2015, respectively.  The
warrants had been granted prior to the Merger and were assumed by
the Company in conjunction with the Merger.  Mr. Kane also owns
1,102,769 shares of the Company's Series A Convertible Preferred
Stock.  As reported herein, FIVEK Investments, L.P. owns 700,000
shares of Series A Convertible Preferred Stock and a warrant for
the purchase of 700,000 shares of the Company's Common Stock at a
price of $0.50 per share.  The warrant will expire on June 1,
2015.  The warrant had been granted prior to the Merger and was
assumed by Company in conjunction with the Merger.

                      About Innolog Holdings

Fairfax, Virginia-based Innolog Holdings Corporation is a holding
company designed to make acquisitions of companies in the
government services industry.  The Company's first acquisition,
Innovative Logistics Techniques, Inc., is a solutions oriented
provider of logistics services primarily to agencies of the U.S.
government, but also to state and local agencies and to private
businesses.

The Company's balance sheet at September 30, 2010, showed
$1.19 million in total assets, $7.74 million in total liabilities,
all current, and a stockholders' deficit of $6.55 million.

"The Company has sustained substantial operating losses in the
prior year and increasing losses in the current periods, and has a
stockholders' deficit of $6.54 million and $2.49 million at
September 30, 2010, and December 31, 2009, respectively," the
Company said in its Form 10-Q for the quarter ended Sept. 30,
2010.  "There are many delinquent claims and obligations, such as
payroll taxes, employee income tax withholdings, employee benefit
plan contributions, loans payable and accounts payable, that could
ultimately cause the Company to cease operations."


INTERNATIONAL COAL: V. Prem Watsa Discloses 11.1% Equity Stake
--------------------------------------------------------------
In an amended Schedule 13D filing with the Securities and Exchange
Commission on December 17, 2010, V. Prem Watsa disclosed that he
beneficially owns 22,577,788 shares of International Coal Group,
Inc. common stock representing 11.1% of the shares outstanding.
As of November 1, 2010, there were 203,808,203 shares of the
Company's Common Stock, $0.01 par value, outstanding.

Other affiliates of Mr. Watsa also disclosed beneficial ownership
of common stock:

                                             Shares      Equity
                                     Beneficially Owned  Stake
                                     ------------------  ------
1109519 Ontario Limited                  22,577,788     11.1%
The Sixty Two Investment Company Limited 22,577,788     11.1%
810679 Ontario Limited                   22,577,788     11.1%
Fairfax Financial Holdings Limited       22,577,788     11.1%
Odyssey America Reinsurance Corporation  11,888,965      5.8%
Clearwater Insurance Company              1,405,125      0.7%
United States Fire Insurance Company              0        0%
The North River Insurance Company                 0        0%
TIG Insurance Company                     5,930,229      2.9%
Wentworth Insurance Company Ltd.          1,185,600      0.6%
Nspire Re Limited                         3,572,994      1.8%

                   About International Coal Group

Scott Depot, West Virginia-based International Coal Group, Inc.
(NYSE: ICO) produces coal in Northern and Central Appalachia and
the Illinois Basin.  The Company has 13 active mining complexes,
of which 12 are located in Northern and Central Appalachia, and
one in Central Illinois.  ICG's mining operations and reserves are
strategically located to serve utility, metallurgical and
industrial customers throughout the eastern United States.

The Company's balance sheet at Sept. 30, 2010, showed
$1.47 billion in total assets, $720.28 million in total
liabilities, and stockholders' equity of $748.30 million.

                           *     *     *

International Coal Group carries 'Caa1' corporate family and
probability of default ratings from Moody's Investors Service.

In March 2010, Moody's said the ratings "continue to reflect ICG's
elevated cost structure amidst an uncertain price environment,
inherent operating risk at its mines, history of operating and
financial challenges, significant capital spending requirements,
and uncertainty regarding mine permitting obstacles particularly
given the large percentage of surface mine production."


INTERNATIONAL COAL: WL Gross Discloses 6.02% Equity Stake
---------------------------------------------------------
In an amended Schedule 13D filing with the Securities and Exchange
Commission on December 17, 2010, WL Gross Group, L.P., disclosed
that it beneficially owns 12,268,823 shares of common stock of
International Coal Group, Inc. common stock representing 6.02% of
the shares outstanding.  As of November 1, 2010, there 203,808,203
shares of the Company's Common Stock, $0.01 par value,
outstanding.

Other affiliates of WL Gross Group also disclosed beneficial
ownership of shares:

                                           Shares         Equity
                                     Beneficially Owned   Stake
                                     ------------------   ------
WLR Recovery Fund, L.P.                  2,859,927        1.4%
WLR Recovery Fund II, L.P.               7,634,294       3.75%
WLR Recovery Fund III, L.P.              1,774,502       0.87%
WLR Recovery Associates LLC              2,859,927        1.4%
WLR Recovery Associates II LLC           7,634,294       3.75%
WLR Recovery Associates III LLC          1,774,502       0.87%
WL Ross Group, L.P.                     12,268,723       6.02%
El Vedado, LLC                          12,268,723       6.02%
Wilbur L. Ross, Jr.                     12,268,823       6.02%

On December 17, 2010, the Reporting Persons disposed of 12,268,700
shares of Common Stock, pursuant to an Underwriting Agreement,
dated December 14, 2010, with a third party, resulting in the
decrease of shares of Common Stock beneficially owned by the
Reporting Persons.

                  About International Coal Group

Scott Depot, West Virginia-based International Coal Group, Inc.
(NYSE: ICO) produces coal in Northern and Central Appalachia and
the Illinois Basin.  The Company has 13 active mining complexes,
of which 12 are located in Northern and Central Appalachia, and
one in Central Illinois.  ICG's mining operations and reserves are
strategically located to serve utility, metallurgical and
industrial customers throughout the eastern United States.

The Company's balance sheet at Sept. 30, 2010, showed
$1.47 billion in total assets, $720.28 million in total
liabilities, and stockholders' equity of $748.30 million.

                           *     *     *

International Coal Group carries 'Caa1' corporate family and
probability of default ratings from Moody's Investors Service.

In March 2010, Moody's said the ratings "continue to reflect ICG's
elevated cost structure amidst an uncertain price environment,
inherent operating risk at its mines, history of operating and
financial challenges, significant capital spending requirements,
and uncertainty regarding mine permitting obstacles particularly
given the large percentage of surface mine production."


ISTAR FINANCIAL: Fir Tree Inc. Discloses 5.1% Equity Stake
----------------------------------------------------------
In a Schedule 13G filing with the Securities and Exchange
Commission on December 17, 2010, Fir Tree, Inc., disclosed that it
beneficially owns 4,744,388 shares of iStar Financial Inc. common
stock representing 5.1% of the shares outstanding.  As of October
29, 2010, there were 92,318,899 shares of common stock, $0.001 par
value per share, of iStar Financial Inc. outstanding

Other affiliates of Fir Tree, Inc. also disclosed beneficial
ownership:

                                             Shares       Equity
                                      Beneficially Owned  Stake
                                      ------------------  ------

Fir Tree Value Master Fund, L.P.            3,894,840     4.2%
Fir Tree Capital Opportunity Master Fund      438,404     0.5%
Fir Tree REOF II Master Fund, LLC             411,144     0.4%

                      About iStar Financial

New York-based iStar Financial Inc. (NYSE: SFI) provides custom-
tailored investment capital to high-end private and corporate
owners of real estate, including senior and mezzanine real estate
debt, senior and mezzanine corporate capital, as well as corporate
net lease financing and equity.  The Company, which is taxed as a
real estate investment trust, provides innovative and value added
financing solutions to its customers.

The Company's balance sheet at Sept. 30, 2010, showed
$10.47 billion in total assets, $8.70 billion in total
liabilities, and stockholders' equity of $1.76 billion.

                           *     *     *

iStar carries a 'C' issuer default rating from Fitch Ratings
Services.  Fitch lowered, among other things, the IDR from 'CC' to
'C' in October, noting that there is substantial amount of debt
maturities in the second quarter of 2011, consisting primarily of
a second lien term loan and second lien revolving credit agreement
in aggregate amounting to approximately $1.7 billion, and an
unsecured revolving credit facility of approximately $500 million.
In order to avoid maturity defaults on the second lien obligations
and unsecured revolving credit facility due June 2011, a coercive
debt exchange would need to be effected, whereby the company
negotiates with certain of its debt holders a material reduction
in terms to avert bankruptcy, Fitch said.

In July 2010, Standard & Poor's Ratings Services lowered its long-
term counterparty credit rating on iStar Financial to 'CCC' from
'B-'.  The outlook is negative.  iStar's limited funding
flexibility and the severe credit quality deterioration in its
loan portfolio continue to put negative pressure on the rating,
S&P said.


JOHN LIMM: Chiri Acquisitions Wants Case Converted or Dismissed
---------------------------------------------------------------
Secured creditor Chiri Acquisitions LLC asks the U.S. Bankruptcy
Court for the District of New Jersey to dismiss, or in the
alternative, convert to one under Chapter 7 of the Bankruptcy
Code, the Chapter 11 case of John C. Limm and Sook K. Limm.

The Court will consider the request for dismissal at a hearing on
January 18, 2011, at 10:00 a.m.

Chiri Acquisition is represented by:

     Ben H. Becker, Esq.
     BECKER MEISEL LLC
     Eisenhower Plaza II
     354 Eisenhower Parkway, Suite 1500
     Livingston, NJ 07039
     Tel: (973) 422-1100

Robbinsville, New Jersey-based John C. Limm and Sook K. Limm filed
for Chapter 11 bankruptcy protection on February 9, 2010 (Bankr.
D. N.J. Case No. 10-13685).  Carol L. Knowlton, Esq., at Teich
Groh, represents the Debtors.  The Company disclosed $11,911,000
in assets and $6,437,207 in liabilities as of the Chapter 11
filing.


JOHN LIMM: Hearing on Plan Outline Set for January 13
-----------------------------------------------------
The Hon. Kathryn C. Ferguson of the U.S. Bankruptcy Court for the
District of New Jersey will convene a hearing on January 13, 2010,
at 10:00 a.m., to consider adequacy of the Disclosure Statement
explaining John C. Limm and Sook K. Limm's Plan of Reorganization.
Objections, if any, are due 14 days prior to the hearing.

The Debtors will begin soliciting votes on the Plan following
approval of the adequacy of the information in the Disclosure
Statement.

According to the Disclosure Statement, the Plan will be funded by:
(i) capital contribution from nephew, profitable operations of
JNS, Inc., Liberty Tower Associates revenue; and (ii) the salary
of John Limm as Rice Wine consultant.

                 Treatment of Claims and Interests

    Classes of Claim and Interest                Total Payout
    -----------------------------                -----------
Class 1 Secured Claim of Brunswick Bank & Trust      100%

Class 2 Secured Claim of Dae Hae Han aka David Han    0%

Class 3 Secured Claim of Chiri Acquisition, LLC      100%

Class 4 Secured Claim of Wilshire State Bank         100%

Class 5  Secured Claim of Woori America Bank          --

Class 6  Secured Claim of Woori America Bank         100%

Class 7 General Unsecured Claims                     10% (2% per
                                                     year for
                                                     5 years

Class 8 Interest Holders                          Retain assets

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

               About John C. Limm and Sook K. Limm

Robbinsville, New Jersey-based John C. Limm and Sook K. Limm filed
for Chapter 11 bankruptcy protection on February 9, 2010 (Bankr.
D. N.J. Case No. 10-13685).  Carol L. Knowlton, Esq., at Teich
Groh, represents the Debtors.  The Company disclosed $11,911,000
in assets and $6,437,207 in liabilities as of the Chapter 11
filing.


JOSEPH JUNKOVIC: Section 341(a) Meeting Scheduled for Feb. 2
------------------------------------------------------------
The U.S. Trustee for Region 11 will convene a meeting of Joseph
Junkovic's creditors on February 2, 2011, at 1:30 p.m.  The
meeting will be held at 219 South Dearborn, Office of the U.S.
Trustee, 8th Floor, Room 802, Chicago, Illinois 60604.

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.

Chicago, Illinois-based Joseph Junkovic filed for Chapter 11
bankruptcy protection on December 20, 2010 (Bankr. N.D. Ill. Case
No. 10-55888).  David K. Welch, Esq., at Crane Heyman Simon Welch
& Clar, serves as the Debtor's bankruptcy counsel.  The Debtor
estimated his assets and debts at $10 million to $50 million as of
the Petition Date.


JOSEPH SCHABATKA: Case Summary & 17 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Joseph Robert Schabatka
        P.O. Box 426
        Sedona, AZ 86339

Bankruptcy Case No.: 10-40985

Chapter 11 Petition Date: December 27, 2010

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

Judge: Redfield T. Baum, Sr.

Debtor's Counsel: Pernell W. McGuire, Esq.
                  MCGUIRE GARDNER, PLLC
                  320 N. Leroux, Suite A
                  Flagstaff, AZ 86001
                  Tel: (928) 779-1173
                  Fax: (928) 779-1175
                  E-mail: pmcguire@mcguiregardner.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/azb10-40985.pdf


JUMA TECHNOLOGY: A. Benowitz Discloses 82.6% Equity Stake
---------------------------------------------------------
In an amended Schedule 13D filing with the Securities and Exchange
Commission on December 17, 2010, Adam Benowitz disclosed that he
beneficially owns 214,678,806 shares of common stock of Juma
Technology Corp. representing 82.6% of the shares outstanding.  As
of  March 22, 2010, 46,468,945 shares of the Company's common
stock were issued and outstanding.

Other affiliates of Mr. Benowitz also disclosed beneficialy
ownership of shares:

                                             Shares       Equity
                                       Beneficially Owned Stake
                                       ------------------ ------
Vision Capital Advisors, LLC              214,678,806    82.6%
Vision Opportunity Master Fund, Ltd.                -       -
Vision Capital Advantage Fund, L.P.                 -       -
VCAF GP, LLC                                        -       -

On November 29, 2010, the Company, Nectar Services Corp., Vision
Opportunity Master Fund, Ltd. and Vision Capital Advantage Fund,
L.P. entered into a letter agreement pursuant to which the parties
agreed to extend the maturity dates of the specified convertible
notes and bridge notes issued by the Company and held by the
Master Fund and VCAF from November 29, 2010 to a maturity date of
five days after demand.  Except for the foregoing, no transactions
in the Common Stock have been effected by the Reporting Persons
or, to the knowledge of the Reporting Persons, the Directors and
Officers, since the filing of Amendment No. 10 to Schedule 13D on
November 23, 2010.

                       About Juma Technology

Farmingdale, N.Y.-based Juma Technology Corp. is a highly
specialized convergence systems integrator with a complete suite
of services for the implementation and management of an entity's
data, voice and video requirements.

The Company's balance sheet at Sept. 30, 2010, showed
$4.29 million in total assets, $22.01 million in total
liabilities, and a stockholders' deficit of $17.72 million.

As reported in the Troubled Company Reporter on April 5, 2010,
Seligson & Giannattasio, LLP, in White Plains, N.Y., expressed
substantial doubt about the Company's ability to continue as a
going concern, following its 2009 results.  The independent
auditors noted that the Company has incurred significant recurring
losses.


KENMORE REALTY: Section 341(a) Meeting Scheduled for Feb. 2
-----------------------------------------------------------
The U.S. Trustee for Region 11 will convene a meeting of Kenmore
Realty Group LLC's creditors on February 2, 2011, at 1:30 p.m.
The meeting will be held at 219 South Dearborn, Office of the U.S.
Trustee, 8th Floor, Room 802, Chicago, Illinois 60604.

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.

Chicago, Illinois-based Kenmore Realty Group LLC filed for Chapter
11 bankruptcy protection on December 20, 2010 (Bankr. N.D. Ill.
Case No. 10-55868).  David K. Welch, Esq., at Crane Heyman Simon
Welch & Clar, serves as the Debtor's bankruptcy counsel.  The
Debtor estimated its assets and debts at $10 million to
$50 million.


LA VILLITA: Gets Okay to Hire Oppenheimer Blend as Bankr. Counsel
-----------------------------------------------------------------
La Villita Motor Inns, J.V., sought and obtained authorization
from the Hon. Ronald B. King of the U.S. Bankruptcy Court for the
Western District of Texas to employ Oppenheimer, Blend, Harrison &
Tate, Inc., as bankruptcy counsel.

Oppenheimer Blend will:

     a. serve as lead bankruptcy counsel and give the Debtor
        advice in reorganizing its business and assets, managing
        of its property, and complying with its duties and
        responsibilities as a Debtor;

     b. prepare applications, notices, answers, adversaries,
        orders, reports, and other legal papers;

     c. assist the Debtor in negotiating a plan satisfactory to
        parties in interest, and prepare a disclosure statement
        which will be submitted to parties in interest after it
        has been approved by the Court; and

     d. perform other legal services for the Debtor which may e
        necessary and appropriate in the Debtor's Chapter 11 case.

Oppenheimer Blend will be paid based on the rates of its
professionals:

        Raymond W. Battaglia                 $425
        Debra L. Innocenti                   $275
        Mark R. Murphy                       $235
        Robert K. "Chip" Sugg                $190

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

San Antonio, Texas-based La Villita Motor Inns JV filed for
Chapter 11 bankruptcy protection on December 17, 2010 (Bankr. Case
No. 10-54864).  The Debtor estimated its assets at $10 million to
$50 million and debts at $1 million to $10 million.


LA VILLITA: Asks for Court's Permission to Use Cash Collateral
--------------------------------------------------------------
La Villita Motor Inns, J.V. seeks authority from the U.S.
Bankruptcy Court for the Western District of Texas to use the cash
collateral.

On September 25, 1998, the Debtor executed a Fixed Rate Note
with AMRESCO Capital L.P. in the original principal amount of
$8.4 million, secured by certain real property and improvements,
including the Hotel, as well as all accounts, inventory, all
personal property located on the Hotel premises, and all rents
and proceeds generated by operations of the Hotel, to the extent
described in the Mortgage, Deed of Trust, and Security Agreement;
Security Agreement; Assignment of Leases and Rents; and
Environmental Liabilities Agreement.

Debra L. Innocenti, Esq., at Oppenheimer, Blend, Harrison & Tate,
Inc., explains that the Debtor needs the money to fund its 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/LA_VILLITA_budget.pdf

In exchange for using the cash collateral, the Debtor proposes to
adequately protect the interests of the Trust by:

  A. to the extent the pre-petition liens of the Trust are valid
     and perfected, granting a post-petition lien upon all after-
     acquired property of the estate of the type comprising the
     pre-petition collateral according to the same order of
     priority as that for the pre-petition liens, but only to the
     extent of any decrease in the value of the pre-petition
     collateral, and only to the extent of the amount of cash
     collateral actually used;

  B. restricting the Debtor's use of cash collateral to ordinary,
     reasonable and necessary expenses, pursuant to a periodic
     budget;

  C. maintaining casualty and liability insurance policies on the
     Debtor's assets;

  D. securing and maintaining all property of the Debtor and
     continuing to market and lease the Hotel accommodations and
     collect and account for all rental income;

  E. providing the Trust with monthly reports reflecting;
     (i) monthly income and expenses, and (ii) monthly operating
     reports and financial statements; and

  F. continuing to provide for the insurance required by the Trust
     Under the Loan Documents and to maintain an escrow for
     payment of taxes.

San Antonio, Texas-based La Villita Motor Inns JV is a joint
venture, formed on or about April 14, 1980, that owns and operates
a hotel located at 100 La Villita in San Antonio, Texas, known as
the Riverwalk Plaza Hotel.  It filed for Chapter 11 bankruptcy
protection on December 17, 2010 (Bankr. Case No. 10-54864).  Debra
L. Innocenti, Esq., at Oppenheimer Blend Harrison & Tate, serves
as the Debtor's bankruptcy counsel.  The Debtor estimated its
assets at $10 million to $50 million and debts at $1 million to
$10 million.


LDK SOLAR: $31.9 Mil. of Notes Accepted for Exchange
----------------------------------------------------
LDK Solar Co. Ltd. announced the results of the Company's offer to
exchange, or, as amended, the Exchange Offer, up to $300 million
in aggregate principal amount of its currently outstanding 4.75%
Convertible Senior Notes due 2013 (CUSIP Nos. 50183L AA 5 and
50183L AB 3).

The Company offered to exchange the Existing Notes for an equal
aggregate principal amount of a newly issued class of 4.75%
Convertible Senior Notes due 2013, or the New Notes, and cash in
an amount not greater than $100 nor less than $85, or, as amended,
the Cash Consideration.  The New Notes and the Cash Consideration
are collectively referred to as the Exchange Consideration. The
Exchange Offer expired at 11:59 p.m., New York City time, on
Wednesday, December 22, 2010.

The total principal amount of Existing Notes accepted for exchange
was approximately $31,918,000.  Holders of Existing Notes that
validly tendered and did not validly withdraw their Existing Notes
prior to the expiration of the Exchange Offer will receive the
Exchange Consideration, including the Cash Consideration, on the
settlement date of the Exchange Offer, which is expected to be
December 29, 2010.

Pursuant to the terms of the modified 'Dutch Auction,' the Company
determined the Cash Consideration portion of the Exchange
Consideration to be $100 for each $1,000 principal amount of
Existing Notes.  In addition, holders of Existing Notes whose
Existing Notes were accepted for exchange in the Exchange Offer
will be paid cash in an amount equal to the accrued and unpaid
interest on the Existing Notes up to, but excluding, the
settlement date of the Exchange Offer.

The Exchange Offer was subject to the terms and conditions set
forth in a Schedule TO filed by us with the Securities and
Exchange Commission, or SEC, on November 24, 2010, as amended and
supplemented by Amendment No. 1, filed by us with the SEC on
December 10, 2010 and Amendment No. 2, to be filed us with the
SEC.  The Schedule TO includes the Exchange Offer Memorandum and
related Amended Letter of Transmittal.

The financial advisor for the Exchange Offer was Piper Jaffray &
Co., the information agent for the Exchange Offer was Georgeson
Inc. and the exchange agent for the Exchange Offer was The Bank of
New York Mellon.  Holders of the Existing Notes who have questions
may call the information agent at (800) 457-0759.  Banks and
brokerage firms may call (212) 440-9800.

                         About LDK Solar

LDK Solar Co., Ltd. (NYSE: LDK) -- http://www.ldksolar.com/--
manufactures photovoltaic products and multicrystalline wafers.
LDK Solar's headquarters and manufacturing facilities are located
in Hi-Tech Industrial Park, Xinyu City, Jiangxi Province in the
People's Republic of China.  LDK Solar's office in the United
States is located in Sunnyvale, California.

The Company's balance sheet at December 31, 2009, showed
US$4.384 billion in assets, US$3.507 billion of liabilities, and
US$876.9 million of stockholders' equity.

                        Going Concern Doubt

As reported in the Troubled Company Reporter-Asia Pacific on
July 6, 2010, LDK Solar said in its annual report on Form 20-F for
the year ended December 31, 2009, that at yearend, the Company had
a working capital deficit of US$833.6 million and an accumulated
deficit of US$32.8 million.  The Company said, "During the
year ended December 31, 2009, we incurred a net loss of
US$234.2 million [attributable to LDK Solar Co., Ltd.
shareholders].  As of December 31, 2009, we had cash and cash
equivalents of US$384.8 million, most of which are held by
subsidiaries in China.  Most of our short-term bank borrowings and
current installments of our long-term debt totaling US$978.6
million are the obligations of these subsidiaries.  We may also be
required by the holders of our convertible senior notes to
repurchase all or a portion of such convertible senior notes with
an aggregate principal amount of US$400.0 million on April 15,
2011.  These factors initially raised substantial doubt as to our
ability to continue as a going concern.  We are in need of
additional funding to sustain our business as a going concern, and
we have formulated a plan to address our liquidity problem."

The Company cautioned that "we cannot assure you that we will
successfully execute our liquidity plan.  If we do not
successfully execute such plan, we may have substantial doubt as
to our ability to continue as a going concern."


LEHMAN BROTHERS: Ad Hoc Creditors Amend Plan Outline Exhibit
------------------------------------------------------------
The Ad Hoc Group of Lehman Brothers Creditors files an amended
version of Exhibit 2 to the Disclosure Statement for December 15,
2010 Joint Substantively Consolidating Chapter 11 Plan for Lehman
Brothers Holdings Inc. and Certain of its Affiliated Debtors
other than Merit, LLC, LB Somerset LLC and LB Preferred Somerset
LLC.

Exhibit 2 to the Disclosure Statement includes a recovery
analysis for Claims against and Equity Interests in the
Consolidated Debtors and related analyses.

The amendments reflected in the Amended Exhibit include, among
other things, (a) additional columns in the table entitled
"Recovery Analysis" for "Treatment of Estimated Allowed Claims
under Ad Hoc Plan" and "Adjusted Allowed Claims," (b) certain
revised percentages in the table entitled "Summary Comparison of
Ad Hoc Plan vs. Debtors' Plan" for "Estimated Debtors Plan
Recovery," and (c) additional tables entitled "Summary Comparison
of Net Distributable Assets -- Debtors' Plan vs. Ad Hoc Plan" and
"Schedule of Inter-Debtor Intercompany Receivable Eliminations in
Ad Hoc Plan."

The revised exhibit to Paulson's disclosure statement shows how
senior creditors with claims against the Lehman holding company
would recover about 24.5 percent, compared with 17.4 percent
under Lehman's plan. The larger recovery from the holding company
results from substantive consolidation where all assets are
thrown into one pot and creditors receive a similar distribution
regardless of the Lehman company that owed the debt.

Under the Ad Hoc Plan, holders of claims against subsidiaries
with guarantees by the holding company would recover 25.7
percent.  The 1.2 percent more than the recovery on general
creditors' claims is intended to induce creditors with guarantees
to accept the plan.  Creditors with guarantees would see less
under the Paulson plan because it doesn't enforce guarantees,
Bloomberg News said.

Under Lehman's non-consolidation plan where guarantees are
enforced, the same group of creditors would recover more, the
report said.  The classes' recoveries under Lehman's plan would
range from 100 percent to 33 percent for creditors of six Lehman
subsidiaries.  Creditors of only one subsidiary would have a
larger recovery under the Paulson plan.

A full-text copy of the Exhibit 2 Amendment is available for free
at http://bankrupt.com/misc/lbhi13614.pdf

                       About Lehman Brothers

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

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

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

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

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

                 International Operations Collapse

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

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

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


LEHMAN BROTHERS: Court OKs falls of Neuse Settlement
----------------------------------------------------
Judge James Peck approved an agreement to settle the claims of
Falls of Neuse Investments LLC against Debtors Lehman Brothers
Holdings Inc., LB Somerset LLC and LB Preferred Somerset LLC.

FNI, a joint venture partner of LB Somerset LLC and LB Preferred,
filed a $7.5 million claim against each of the Lehman units for
allegedly violating an agreement that was executed in connection
with their joint venture.

The settlement agreement authorizes LB Somerset and LB Preferred
to drop their membership in the joint venture and sell their
stake in it for $150,000 to KBIA Somerset Investments LLC and
KBIA Preferred LLC.  In return, each of the $7.5 million claims
will be withdrawn and the Lehman units' obligations under the
agreement with FNI will be assumed by the KBIA entities.

The settlement deal also calls for the dismissal of a lawsuit
FNI filed against the Lehman units in Delaware.

Jeffrey Fitts, managing director of Alvarez & Marsal Real Estate
Advisory Services, expressed support for the approval of the
deal, saying it would relieve LB Preferred of about $4.5 million
in potential future funding obligations and would provide for a
modest return for the Lehman units' estates and their creditors.

The settlement agreement also drew support from the Official
Committee of Unsecured Creditors.

                       About Lehman Brothers

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

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

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

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

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

                 International Operations Collapse

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

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

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


LEHMAN BROTHERS: Wants to Clarify Protocol for Derivative Pacts
---------------------------------------------------------------
Lehman Brothers Holdings Inc. and its units ask the Bankruptcy
Court to clarify the scope of the procedures for settling
prepetition derivative contracts.

The Debtors are parties to thousands of contracts in which the
contractual obligations and values are keyed to one or more
underlying assets or indices of asset values and subject to
movements in the financial markets.

The Derivatives Procedures Order approves procedures pursuant to
which the Debtors may assume and assign "in the money" Derivative
Contracts and enter into compromises and settlements with
counterparties in connection with Derivative Contracts.  The
Termination and Settlement Procedures require the Debtors to
obtain the written consent of the Official Committee of Unsecured
Creditors prior to assuming and assigning or entering into a
settlement agreement with respect to a Derivative Contract.

As of September 30, 2010, the Debtors have entered into
settlement agreements with respect to more than 2,900 Derivative
Contracts, and collected an aggregate amount of approximately
$11.3 billion in respect thereof.  By all accounts, these figures
indicate the extent to which the Termination and Settlement
Procedures have benefited the Debtors' estates, Jacqueline
Marcus, Esq., at Weil, Gotshal & Manges LLP, in New York.

Nevertheless, certain of the Debtors' counterparties have been
reluctant to enter into settlements with the Debtors pursuant to
the Derivatives Procedures Order because of concerns about the
breadth of the authority provided to the Debtors under the
Termination and Settlement Procedures, Ms. Marcus tells the
Court.

She explains that typically, this counterparty uncertainty arises
in circumstances where (i) an adversary proceeding is pending
with respect to the relevant Derivative Contract, or (ii) the
settlement requires that parties other than the counterparty be
party to a settlement agreement with one or more of the Debtors.

While the Debtors interpret the Derivatives Procedures Order to
apply in the foregoing circumstances, some counterparties
disagree and either have permanently stalled settlement
negotiations or the Debtors have been required to file individual
motions for approval under Rule 9019 of the Federal Rules of
Bankruptcy Procedure, burdening the estates with additional
professional fees and delaying the consummation of those
settlements, Ms. Marcus says.

For this reason, the Debtors ask the Court to enter a
supplemental order clarifying that the Termination and Settlement
Procedures of the Derivatives Procedures Order authorize the
Debtors to (i) terminate and settle any agreements related to
Derivatives Contracts, regardless of the identity of the
signatories to such agreements, (ii) settle and dismiss any
adversary proceeding or other plenary litigation related to the
relevant Derivatives Contracts, and (iii) enter into any
agreement ancillary to the foregoing.

                       About Lehman Brothers

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

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

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

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

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

                 International Operations Collapse

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

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

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


LUIS TABARES: Case Summary & 15 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: Luis O. Tabares
               Ines C. Tabares
               10637 Restoration Terrace
               Bradenton, FL 34212

Bankruptcy Case No.: 10-30538

Chapter 11 Petition Date: December 27, 2010

Court: U.S. Bankruptcy Court
       Middle District of Florida (Tampa)

Judge: Caryl E. Delano

Debtors' Counsel: Marshall G. Reissman, Esq.
                  REISSMAN & BLANCHARD, P.A.
                  5150 Central Avenue
                  St. Petersburg, FL 33707
                  Tel: (727) 322-1999
                  Fax: (727) 327-7999
                  E-mail: marshall@reissmanlaw.com

Scheduled Assets: $1,779,682

Scheduled Debts: $2,611,056

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flmb10-30538.pdf


LUIS VEGA: Case Summary & 11 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Luis G. Vega
        92 Sea Breeze Avenue
        Rancho Palos Verdes, CA 90275

Bankruptcy Case No.: 10-65011

Chapter 11 Petition Date: December 27, 2010

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

Judge: Sheri Bluebond

Debtor's Counsel: M. Jonathan Hayes, Esq.
                  LAW OFFICE OF M. JONATHAN HAYES
                  9700 Reseda Boulevard, Suite 201
                  Northridge, CA 91324
                  Tel: (818) 882-5600
                  Fax: (818) 882-5610
                  E-mail: jhayes@polarisnet.net

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

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

A list of the Debtor's 11 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-65011.pdf


LUXE BEAUTY: Case Summary & 2 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Luxe Beauty Midco Corporation
        21551 Prairie Street
        Chatsworth, CA 91311

Bankruptcy Case No.: 10-25921

Chapter 11 Petition Date: December 21, 2010

Court: United States Bankruptcy Court
       Central District Of California (San Fernando Valley)

Judge: Geraldine Mund

Debtor's Counsel: Scott F. Gautier, Esq.
                  PEITZMAN, WEG & KEMPINSKY LLP
                  10100 Santa Monica Blvd, Ste. 1450
                  Los Angeles, CA 90067
                  Tel: (310) 552-3100
                  E-mail: sgautier@pwkllp.com

Scheduled Assets: $0

Scheduled Debts: $88,559,187

A list of the Company's two largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-25921.pdf

The petition was signed by T. Scott Avila, chief restructuring
officer.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Ecoly International, Inc.              10-25919  12/21/10
Sexy Hair Concepts, LLC                10-25922  12/21/10


MARGRET TUCKER: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Margret Tucker
        225 Old Country Road
        Melville, NY 11747

Bankruptcy Case No.: 10-51297

Chapter 11 Petition Date: December 27, 2010

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

Debtor's Counsel: Michael T. Pines, Esq.
                  PINES & ASSOCIATES
                  732 N. Coast Highway 101, Suite B
                  Encinitas, CA 92024
                  Tel: (760) 642-0414
                  Fax: (760) 301-0093
                  E-mail: cgonzales@pinesandassociates.com

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

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

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


MARTIN CADILLAC: Newark Bankruptcy Judge Axes Sale Deal
-------------------------------------------------------
Richard Newman at Twin-Boro News reports that Judge Rosemary
Gambardella at U.S. Bankruptcy Court in Newark denied the Martin
Cadillac's request to approve the sale for $2.25 million to a
company headed by Jonathan Sobel, a former managing partner at
Goldman Sachs, and ordered that a trustee be appointed to take
control of the dealership's finances.

Mr. Newman notes Gregory S. Kinoian, attorney for Martin Cadillac,
said the approval of the sale was denied because of "unresolved
issues" with creditor General Motors.  Mr. Kinoian said he expects
the trustee to make recommendations to the judge on whether she
should reconsider the decision to block the sale.

According to Mr. Newman, General Motors, which had made a
lower bid to take over the business, had complained that the
proposed sale to Sobel's DTF Holdings LLC did not provide for
a satisfactory payment of its claims.  GM was owed about
$1.9 million.  Other creditors, including Ally Financial Inc. and
landlord Argonaut Holdings Inc., also objected to the sale.

                    About Martin Cadillac, LLC

Englewood Cliffs, New Jersey-based Martin Cadillac, LLC, filed for
Chapter 11 bankruptcy protection on June 25, 2010 (Bankr. D.N.J.
Case No. 10-29520).  Gregory S. Kinoian, Esq., and Paul S.
Hollander, Esq., at Okin, Hollander & DeLuca, LLP, represents the
Debtor.  The Company estimated assets and debts at $10 million to
$50 million.


MEDICAL CONNECTIONS: Major Shareholders OK Issuance of More Shares
------------------------------------------------------------------
Medical Connections Holdings, Inc., is circulating to shareholders
a Notice and Information Statement, in connection with action
taken by the holders of a majority of the issued and outstanding
voting securities of the Company, approving, by a written consent,
dated as of  December 22, 2010, these following proposals:

     1. The election of Dr. Albert G. Biehl, Anthony J. Nicolosi,
        Jeffrey S. Rosenfeld, Robert B. Taylor and James E.
        Wallace to serve as Company directors until the next
        Annual Meeting of Shareholders or until their successors
        are elected and qualified;

     2. An amendment to the Company's Articles of Incorporation to
        increase the authorized capital to 200 million shares of
        common stock and 10 million shares of preferred stock.

A full-text copy of the Information Statement is available
at http://is.gd/jGUif

A full-text copy of the letter to shareholders is available
at http://is.gd/jGUFj

Boca Raton, Fla.-based Medical Connections Holdings, Inc. provides
medical recruitment and staffing services.

The Company's balance sheet at September 30, 2010, showed
$2.8 million in total assets, $653,473 in total liabilities, and
stockholders' equity of $2.2 million.

As reported in the Troubled Company Reporter on April 7, 2010,
De Meo, Young, McGrath, CPA, in Fort Lauderdale, Fla., 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 dependence on outside
financing, lack of sufficient working capital, and recurring
losses from operations.


MARK GINSBURG: Has Until February 7 to Propose Chapter 11 Plan
--------------------------------------------------------------
The Hon. Raymond B. Ray of the U.S. Bankruptcy Court for the
Southern District of Florida extended until February 7, 2011,
Mark J. Ginsburg's time to file a proposed Chapter 11 Plan.

As reported in the Troubled Company Reporter on October 21, 2010,
the Debtor needs additional time to formulate a plan because the
plan and specifically the assets available to creditors will be
dependent on the results of litigation pending before the Court.

Lighthouse Point, Florida-based Mark J. Ginsburg, aka Mark
Ginsburg and Dr. Mark Ginsburg, filed for Chapter 11 bankruptcy
protection on February 9, 2010 (Bankr. S.D. Fla. Case No. 10-
13056).  Chad P. Pugatch, Esq., at Rice Pugatch Robinson &
Schiller, P.A., represents the Debtor.  The Company disclosed
assets of $16,675,693 and debts of $47,823,735 as of the Chapter
11 filing.


MICHAEL BOYER: Case Summary & 13 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Michael A. Boyer
        629 Highland Avenue
        Windermere, FL 34786

Bankruptcy Case No.: 10-22706

Chapter 11 Petition Date: December 27, 2010

Court: U.S. Bankruptcy Court
       Middle District of Florida (Orlando)

Debtor's Counsel: James H. Monroe, Esq.
                  JAMES H. MONROE, P.A.
                  P.O. Box 540163
                  Orlando, FL 32854
                  Tel: (407) 872-7447
                  Fax: (407) 246-0008
                  E-mail: jhm@jamesmonroepa.com

Scheduled Assets: $1,051,019

Scheduled Debts: $1,760,487

A list of the Debtor's 13 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/flmb10-22706.pdf


MOLECULAR INSIGHT: M. Attarian Does Not Own Any Securities
----------------------------------------------------------
In a Form 3 filing with the Securities and Exchange Commission on
December 17, 2010, Mark A. Attarian, interim EVP & CFO at
Molecular Insight Pharmaceuticals, Inc., disclosed that he does
not own any securities of the Company.

                      About Molecular Insight

Cambridge, Massachusetts-based Molecular Insight Pharmaceuticals,
Inc., is a clinical-stage biopharmaceutical company that provides
services on the detection and treatment of various forms of cancer
and other life-threatening diseases.  The Debtor disclosed
$36,453,000 in total assets and $198,829,000 in total debts as of
September 30, 2010.

Molecular Insight filed for Chapter 11 bankruptcy protection on
December 9, 2010 (Bankr. D. Mass. Case No. 10-23355).  Alan L.
Braunstein, Esq., at Riemer & Braunstein, LLP, serves as
the Debtor's local Massachusetts counsel.  Kramer Levin Naftalis &
Franklin LLP serves as the Debtor's lead bankruptcy counsel.
Foley & Lardner LLP is the Debtor's bankruptcy counsel.  CRT
Capital Group LLC is the Debtor's financial advisor.  Tatum LLC, a
division of SFN Professional Services LLC, is the Debtor's
financial consultant.  Omni Management Group, LLC, is the claims,
and balloting agent.


MOUNTAIN PROVINCE: Enviro. Impact Statement for Gacho Kue Sent
--------------------------------------------------------------
De Beers Canada Inc. and Mountain Province Diamonds Inc. are
pleased to advise that the Environmental Impact Statement for the
proposed Gahcho Kue Mine has been submitted to the Gahcho Kue
Environmental Impact Review Panel.  The Panel was established by
the Mackenzie Valley Environmental Impact Review Board to
undertake the review of the Gahcho Kue Project.

"This is a major milestone for the Gahcho Kue Project and our
submission marks completion of a significant piece of excellent
work done by our permitting team which includes our environmental
and engineering consultants," said Chantal Lavoie, Acting Chief
Executive Officer and Chief Operating Officer for De Beers Canada.

The Environmental Impact Statement is the document that details
construction of the proposed mine and how the proposed mine will
be operated to ensure it is a sustainable project.  The EIS has
been assembled to meet the rigorous Terms of Reference established
for the Gahcho Kue Project by the Panel in October 2007.

"We are another step closer to realizing the Gahcho Kue Mine as a
reality," said Patrick Evans, CEO of Mountain Province Diamonds.
"Gahcho Kue will be the fourth diamond mine permitted in the NWT
and the third Canadian diamond mine permitted by De Beers. The EIS
has been prepared to the highest standard which we expect will
facilitate a fair and expeditious environmental review."

The next step in the regulatory process will be for the Panel to
review the Project's EIS submission and to confirm that the EIS
conforms to the Terms of Reference.  When this determination is
made, the next steps in the Analytical Phase of the Environmental
Impact Review will commence.  Those interested in the review
should contact the Panel at (867) 766-7056.

The Gahcho Kue Project is a joint venture project of De Beers
Canada Inc. (51%) and Mountain Province Diamonds Inc. (49%), and
will be the second diamond mine in the Northwest Territories for
De Beers when permitted.  De Beers Canada Inc. is the operator of
the Project.

                     About Mountain Province

Headquartered in Toronto, Canada, Mountain Province Diamonds Inc.
(TSX: MPV, NYSE AMEX: MDM) -- http://www.mountainprovince.com/--
is a Canadian resource company in the process of permitting and
developing a diamond deposit (the "Gahcho Kue Project" located in
the Northwest Territories of Canada.  The Company's primary asset
is its 49% interest in the Gahcho Kue Project.

The Company's balance sheet as of June 30, 2010, showed
C$95.8 million in total assets, C$13.9 million in total
liabilities, and stockholders' equity of C$81.9 million.

                          *     *    *

In its Management's Discussion and Analysis of the Company's
interim consolidated financial statements for the three months
ended June 30, 2010, the Company said its ability to continue as a
going concern and to realize the carrying value of its assets and
discharge its liabilities is dependent on the discovery of
economically recoverable mineral reserves, the ability of the
Company to obtain necessary financing to fund its operations, and
the future production or proceeds from developed properties.
However, the Company adds that there is no certainty that the
Company will be able to obtain financing to fund its operations.
As a result, the Company says, there is substantial doubt as to
its ability to continue as a going concern.


N.L.C. UNITRUST: Taps Weir & Partners as Bankruptcy Counsel
-----------------------------------------------------------
N.L.C. Unitrust Partners asks for authorization from the U.S.
Bankruptcy Court for the District of Delaware to employ Weir &
Partners LLP as bankruptcy counsel, nunc pro tunc to the Petition
Date.

W&P will, among other things:

     a. negotiate, prepare and pursue confirmation of a plan and
        approval of a disclosure statement;

     b. prepare motions, applications, answers, orders, reports
        and other legal papers in connection with the
        administration of the Debtor's estate;

     c. appear in Court to protect the interest of the Debtor
        before the Court; and

     d. perform all other legal services in connection with the
        Debtor's Chapter 11 case as may reasonably be required.

W&P will be paid based on the rates of its professionals:

        Kenneth E. Aaron, Partner             $450
        Jeffrey S. Cianciulli, Partner        $400
        Janice Lazar, Paralegal               $140

Jeffrey S. Cianciulli, Esq., a partner at W&P, assures the
Court that the firm is a "disinterested person" as that term
defined in Section 101(14) of the Bankruptcy Code.

Sedona, Arizona-based N.L.C. Unitrust Partners filed for Chapter
11 bankruptcy protection on December 15, 2010 (Bankr. D. Del. Case
No. 10-14074).  The Debtor estimated its assets at $10 million to
$50 million and debts at $1 million to $10 million at the Petition
Date.


NAIR'S LAWN: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Nair's Lawn Care Corporation
        2352 Pearl Road
        Medina, OH 44256

Bankruptcy Case No.: 10-55913

Chapter 11 Petition Date: December 21, 2010

Court: United States Bankruptcy Court
       Northern District of Ohio (Akron)

Judge: Marilyn Shea-Stonum

Debtor's Counsel: Robert J. Fedor, Jr., Esq.
                  ROBERT J. FEDOR, ESQ., LLC
                  2001 Crocker Rd., Suite 216
                  Westlake, OH 44145
                  Tel: (440) 250-9709
                  Fax: (440-250-9714
                  E-mail: rjfedor@fedortax.com

Scheduled Assets: $815,839

Scheduled Debts: $4,654,997

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ohnb10-55913.pdf

The petition was signed by Roger Nair, president.


NATIONAL CENTURY: Court Declines to Cut D. Ayers' 15-Year Sentence
------------------------------------------------------------------
Judge Algenon L. Marbley of the U.S. District Court for the
Southern District of Ohio refused to shorten to five years Donald
H. Ayers' 15-year sentence even after an appeals court reversed
the money-laundering convictions against him in connection with
his role as former vice chairman, chief operating officer,
director and owner of National Century Financial Enterprises, Inc.

As previously reported, the Sixth Circuit Court of Appeals in
Cincinnati has reversed the money-laundering convictions of Mr.
Ayers and that of another former National Century executive, Roger
S. Faulkenberry.  Messrs. Ayers and Faulkenberry, subsequently,
asked the District Court for a shorter sentence.

However, Judge Marbley denied their plea.  He also refused to
shorten Mr. Faulkenberry's 10-year sentence.

Doug Whiteman of The Associated Press reports that Judge Marbley
recalculated Mr. Ayers' sentence to give him the same 15 years.

The appeals court did not say that the prison term could be
reduced, so Judge Marbley felt he had no choice, AP reports,
citing defense attorney Brian Dickerson, Esq., as saying.  Mr.
Dickerson added that a further appeal would be filed within 30
days.

Mr. Ayers, who is 74 years old, is currently serving his 15-
sentence in a minimum-security prison in Coleman, Florida, AP
reports.

"We basically expected this.  It's not like something we want to
happen, but we expected Marbley to do exactly what he did today,"
Mr. Dickerson is quoted by AP as saying.


NATIONAL CENTURY: Court Denies Ariz. Noteholders Plea for Judgment
------------------------------------------------------------------
District Court Judge James L. Graham denied motions by plaintiffs,
holders of notes issued by National Century Financial Enterprises,
Inc., for partial summary judgment against defendant Credit Suisse
under Section 1707.43 of the Ohio Revised Code and the Ohio Blue
Sky Aiding and Abetting Statute for its role in the sale of asset-
backed securities issued by National Century Financial
Enterprises, Inc.

Judge Graham noted that it is undisputed that National Century
committed a massive fraud that cost the Plaintiffs nearly
$2 billion.  Credit Suisse served as the initial purchaser for
many of National Century's note issuances and then sold the notes
to institutional investors like the Arizona Noteholders.

The District Court, however, found that applying the Ohio
Securities Act to the securities transactions in the case -- sales
by Credit Suisse in New York to the Noteholders in states outside
of Ohio -- would be an extraterritorial application that violates
the Commerce Clause of the United States Constitution.

Therefore, Judge Graham granted Credit Suisse's motion for summary
judgment as to the Arizona Noteholders' claims under the Ohio
Securities Act.  Judge Graham denied as moot Credit Suisse's
motions to strike evidence submitted by Pharos Capital Partners,
L.P., in opposition to Credit Suisse's Motion for Summary
Judgment.

A copy of Judge Graham's 40-page opinion and order is available
for free at:

    http://bankrupt.com/misc/NCFE_MDL_Opinion&Order_121310.pdf

In another order, Judge Graham granted the various motions of the
parties to submit supplemental authority in connection with their
summary judgment motions.

                      About National Century

Headquartered in Dublin, Ohio, National Century Financial
Enterprises, Inc. -- http://www.ncfe.com/-- was the largest
issuer of medical accounts receivable asset backed securities in
the United States before it collapsed in bankruptcy in November
2002 amid allegations of widespread fraud and misappropriation of
assets.  To date, 10 senior executives of the company have been
convicted or pled guilty to federal charges of conspiracy,
securities fraud, wire fraud, and money laundering arising out of
the NCFE securitization program.

NCFE -- through the CSFB Claims Trust, the Litigation Trust, the
VI/XII Collateral Trust, and the Unencumbered Assets Trust -- is
in the midst of liquidating estate assets.  The Company filed for
Chapter 11 protection on November 18, 2002 (Bankr. S.D. Ohio Case
No. 02-65235).  The Court confirmed the Debtors' Fourth Amended
Plan of Liquidation on April 16, 2004.  Paul E. Harner, Esq., at
Jones Day, represented the Debtors.

Bankruptcy Creditors' Service, Inc., publishes NATIONAL CENTURY
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by National Century Financial Enterprises Inc. and its
units.  (http://bankrupt.com/newsstand/or 215/945-7000)


NATIONAL CENTURY: Ohio Court Sentences R. Parrett to 25 Years
-------------------------------------------------------------
Rebecca Parrett apologized, but continued to declare her
innocence, at the reading of her 25-year sentence in the U.S.
District Court for the Southern District of Ohio on December 23,
2010.

"I'm sorry for what I did, but I'm innocent," The Columbus
Dispatch quoted Ms. Parrett, who was wearing tan prison clothes
and shackled at the ankles and wrists, as saying.

To recall, District Court Judge Algenon L. Marbley sentenced, in
absentia, Ms. Parrett in March 2009 to 25 years in prison and
three years of supervised release for her role in the collapse of
National Century Financial Enterprises, Inc., where she used to
serve as vice chairman, secretary, treasurer, director and owner.

Ms. Parrett went into hiding after failing to show up for a court
appearance following a March 2008 jury verdict.  The search for
Ms. Parrett has been well publicized, and her disappearance has
been featured on America's Most Wanted.  She was arrested in a
Mexican lakeside town in October 2010, after more than two years
on the run.

According to Kathy Lynn Gray of the Columbus Dispatch, prosecutors
did not charge Ms. Parrett with fleeing, which could have added
time to her prison stint, because Judge Marbley had added five
years for her flight when he sentenced her in 2009.

"When you said guilty, I just felt like my body went into a black
hole," Ms. Parrett told Judge Marbley, Bloomberg News reports.  "I
just did not want to live anymore.  So my course to Mexico was not
to escape.  My course to Mexico was to die, your honor.  But that
didn't happen either," she added.

Judge Marbley, however, did not buy Ms. Parrett's explanation, the
Columbus Dispatch reports.

"If you were planning to die, you wouldn't need money drops in
Mexico," Judge Marbley was quoted by the Columbus Dispatch as
saying.

Judge Marbley also criticized Ms. Parrett for her treatment of her
sister, Linda Case.  "What's most erroneous is the way you used
and manipulated your sister," Judge Marbley said.

"If you want to apologize to anyone, you should apologize to your
sister," Judge Marbley told Ms. Parrett, according to the Columbus
Dispatch report.

In July 2010, Judge Marbley sentenced Ms. Parrett's elder sister,
Linda Case, to eight months of house arrest with an ankle
monitoring device.  Because Ms. Case has been in jail since her
February 2010 arrest, she received credit for the time she spent
behind bars.  Ms. Case was arrested for lying and making false
statements in connection with her e-mails to Ms. Parrett.

                      About National Century

Headquartered in Dublin, Ohio, National Century Financial
Enterprises, Inc. -- http://www.ncfe.com/-- was the largest
issuer of medical accounts receivable asset backed securities in
the United States before it collapsed in bankruptcy in November
2002 amid allegations of widespread fraud and misappropriation of
assets.  To date, 10 senior executives of the company have been
convicted or pled guilty to federal charges of conspiracy,
securities fraud, wire fraud, and money laundering arising out of
the NCFE securitization program.

NCFE -- through the CSFB Claims Trust, the Litigation Trust, the
VI/XII Collateral Trust, and the Unencumbered Assets Trust -- is
in the midst of liquidating estate assets.  The Company filed for
Chapter 11 protection on November 18, 2002 (Bankr. S.D. Ohio Case
No. 02-65235).  The Court confirmed the Debtors' Fourth Amended
Plan of Liquidation on April 16, 2004.  Paul E. Harner, Esq., at
Jones Day, represented the Debtors.

Bankruptcy Creditors' Service, Inc., publishes NATIONAL CENTURY
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by National Century Financial Enterprises Inc. and its
units.  (http://bankrupt.com/newsstand/or 215/945-7000)


NATIONAL COAL: Terminates Common Stock Registration
---------------------------------------------------
National Coal Corp. filed a notice on Form 15 with the Securities
and Exchange Commission regarding the termination of registration
of its common stock, par value $.0001 per share 10.5% Senior
Secured Notes due 2010.

On December 15, 2010, National Coal merged with and into Ranger
Coal Holdings LLC, with Ranger Coal Holdings, LLC being the
surviving corporation following the merger as a wholly-owned
subsidiary of Ranger Energy Investments, LLC pursuant to an
Agreement and Plan of Merger dated as of September 27, 2010 by and
among the Registrant, Ranger Energy and Merger Sub, as amended.

Pursuant to the terms of the Merger Agreement, each share of the
Company's common stock outstanding at the effective time of the
Merger was converted into the right to receive $1.00 in cash.  As
a result of the Merger, the Company became a wholly-owned
subsidiary of Ranger Energy.

                        About National Coal

Headquartered in Knoxville, Tenn., National Coal Corp. (Nasdaq:
NCOCD) http://www.nationalcoal.com/-- through its wholly owned
subsidiary, National Coal Corporation, is engaged in coal mining
in East Tennessee.   Currently, National Coal employs about 155
people.  National Coal sells steam coal to electric utilities and
industrial companies in the Southeastern United States.

The Company's balance sheet as of June 30, 2010, showed
$38.2 million in total assets, $55.2 million in total liabilities,
and a stockholders' deficit of $17.0 million.

In its Form 10-Q for the quarter ended June 30, 2010, the Company
said it expects to use $500,000 to $600,000 of cash from
operations per month during the remainder of 2010.  The Company
must raise additional equity or refinance its senior secured debt
before the December 15, 2010 maturity date.  "The foregoing
factors raise substantial doubt about the Company's
ability to continue as a going concern."


NAVISTAR INT'L: Earns $39 Million in 4th Quarter Ended Oct. 31
--------------------------------------------------------------
Navistar International Corporation said it reported profitable
results for the fourth quarter ended Oct. 31, 2010, propelled by
the improved performance of its core business and military sales.

Results included costs related to the ratification of the new UAW
contract, which provides the Company the ability to ensure a
competitive cost structure across its production platforms and
clears the way for future bottom-line improvements.

Net income attributable to Navistar for the fourth quarter ended
Oct. 31, 2010, totaled $39 million, equal to $0.54 of diluted
earnings per share, which includes $10 million, equal to $0.14
diluted earnings per share from separation and layoff costs
related to the new, four-year contract agreement with the UAW.
Net income for the fourth quarter a year ago was $86 million,
equal to $1.19 of diluted net income per share.  Revenues for the
fourth quarter totaled $3.37 billion, compared with $3.29 billion
in the year-ago fourth quarter.

Fourth-quarter results were in line with the company's earlier
projection that it would deliver more than 17,000 2010-emission
compliant vehicles in the United States and Canada.  In addition,
in the past month, the company also won new delivery orders for
250 International MaxxPro Mine Resistant Ambush Protected
Recovery vehicles and an additional 175 International MaxxPro Dash
vehicles DXM independent suspension.  Also the company submitted
its 15-liter, 2010 MaxxForce 15 engine for regulatory
certification.

"The North American truck market has been depressed for three
years now and the company has been able to provide good profits
while investing in the future growth," said Daniel C. Ustian,
Navistar chairman, president and chief executive officer.  "The
company is well positioned to take advantage of the growing North
American market as well as expanding globally."

"Going forward, we anticipate investments in our global operations
will deliver profits by fiscal 2011 and provide solid returns to
our bottom line in 2012 and 2013," said Ustian.  The company has
invested more than $55 million in global expansion in 2010.

                  Balance Sheet Upside Down

The Company's balance sheet at Oct. 31, 2010, showed $9.73 billion
in total assets, $10.65 million in total liabilities, and a
stockholders' deficit of $932.0 million.

A full-text copy of the annual report on Form 10-K is available
for free at http://ResearchArchives.com/t/s?7166

A full-text copy of the earnings release is available for free
at http://ResearchArchives.com/t/s?7167

                   About Navistar International

Navistar International Corporation (NYSE: NAV) --
http://www.Navistar.com/-- is a holding company whose
subsidiaries and affiliates subsidiaries produce International(R)
brand commercial and military trucks, MaxxForce(R) brand diesel
engines, IC Bus(TM) brand school and commercial buses, Monaco RV
brands of recreational vehicles, and Workhorse(R) brand chassis
for motor homes and step vans.  It also is a private-label
designer and manufacturer of diesel engines for the pickup truck,
van and SUV markets.  The company also provides truck and diesel
engine parts and service.  Another affiliate offers financing
services.

Navistar has a BB-/Stable/-- corporate credit rating from Standard
& Poor's and a 'B1' Corporate Family Rating and Probability of
Default Rating from Moody's Investors Service.

Moody's said in October 2010 that Navistar's B1 rating could
improve if the North American truck market remains on track for a
sustained recovery into 2011, and Navistar's operational
initiatives to moderate its vulnerability to the truck cycle show
evidence of taking hold.


NEW BERN: Has Until December 30 to Propose Chapter 11 Plan
----------------------------------------------------------
Absent an extension, New Bern Riverfront Development, LLC's
exclusive period to propose a Chapter 11 plan expires today,
December 30, 2010.

The Hon. J. Rich Leonard of the U.S. Bankruptcy Court for the
Eastern District of North Carolina previously entered an ordere
extending New Bern 's exclusive periods to file and solicit
acceptances for the proposed chapter 11 plan until today,
December 30, 2010, and March 2, 2011, respectively.

Cary, North Carolina-based New Bern Riverfront Development, LLC,
is the developer of SkySail Condominium, consisting of 121
residential condominiums (plus 1 commercial/non-residential unit)
located on Middle Street on the waterfront in historic downtown
New Bern, North Carolina, and sells the SkySail Condominiums in
the ordinary course of business.  The Debtor filed for Chapter 11
bankruptcy protection on November 30, 2009 (Bankr. E.D. N.C. Case
No. 09-10340).  John A. Northen, Esq., at Northen Blue, LLP,
represents the Debtor.  The Company disclosed $31,515,040 in
assets and $25,676,781 in liabilities as of the Chapter 11 filing.


NORBERT MILLER: Case Summary & 4 Largest Unsecured Creditors
------------------------------------------------------------
Joint Debtors: Norbert Joesph Miller
               Jeanette Miller
               13909 Old Harbor Lane, #103
               Marina Del Rey, CA 90292

Bankruptcy Case No.: 10-64883

Chapter 11 Petition Date: December 26, 2010

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

Judge: Richard M. Neiter

Debtors' Counsel: Arthur F. Stockton, Esq.
                  STOCKTON THORTON LLP
                  27322 Calle Arroyo, Suite 36C
                  San Juan Capistrano, CA 92675
                  Tel: (866) 682-8776
                  Fax: (866) 207-4082
                  E-mail: art@stocktonlawoffices.com

Estimated Assets: $0 to $50,000

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

A list of the Joint Debtors' four largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/cacb10-64883.pdf


NORTHWESTERN STONE: Taps Kepler & Peyton as Bankruptcy Counsel
--------------------------------------------------------------
Northwestern Stone, LLC, asks for authorization from the U.S.
Bankruptcy Court for the Western District of Wisconsin to employ
Kepler & Peyton as bankruptcy counsel.

Kepler & Peyton will provide general representation of the Debtor
in the bankruptcy case and perform all legal services for the
Debtor which may be necessary herein.

Kepler & Peyton will be paid $285 per hour for its services.

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

Middleton, Wisconsin-based Northwestern Stone, LLC, filed for
Chapter 11 bankruptcy protection on December 16, 2010 (Bankr. W.D.
Wis. Case No. 10-19137).  The Debtor estimated its assets and
debts at $10 million to $50 million.


NORTHWESTERN STONE: Asks for Court's Nod to Use Cash Collateral
---------------------------------------------------------------
Northwestern Stone, LLC, asks for authorization from the U.S.
Bankruptcy Court for the Western District of Wisconsin to use the
cash collateral until March 2011.

Evergreen State Bank is the holder of various mortgages against
real property owned by the debtor and security agreements granting
liens against various personal property owned by the Debtor.  It
is believed that ESB was owed approximately $9,448,774.80 as of
October 14, 2010.  The debt owed to ESB is secured with a security
interest in personal property of the Debtor which includes
equipment, inventory and accounts receivable.  ESB's obligation is
also secured by the mortgage encumbering four parcels of real
estate owned by the Debtor.

The Debtor's accounts receivable generally consist of checks that
the Debtor receives from customers.

The Debtor has cash on hand of approximately $18,000 and accounts
receivable of approximately $1,700,000.

According to the Debtor, ESB is oversecured in this case.  The
total claim of ESB is less than $10,000,000.  The claim is secured
by collateral valued at not less than $21,278,500, real estate and
improvements valued at not less than $12,435,000, accounts
receivable of approximately $1,700,000, equipment value of
approximately $5,493,000, and inventory of approximately
$1,650,000.

Timothy J. Peyton, Esq., at Kepler & Peyton, explains that the
Debtor needs the money to fund its 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/NORTHWESTERN_STONE_budget.pdf

In exchange for using the cash collateral, the Debtor will provide
ESB with a replacement lien on all post-Petition accounts
receivable.

The Debtor will maintain adequate insurance coverage on all
personal property and assets, and adequately insure against any
potential loss.  The Debtor will provide ESB with financial
reports, including profit & loss statements and balance sheet on a
monthly basis.  The Debtor will provide ESB with a copy of the
reports filed with the U.S. Trustee.  The Debtor will pay all
post-Petition taxes.  The Debtor will maintain in good condition
and repair all collateral in which ESB has an interest.

ESB objects to the Debtor's request to use the cash collateral,
saying that it has not received a regular monthly payment from the
Debtor since March of this year.

"While Debtor will argue that the Bank's (ESB) position it
protected by an equity cushion, that cushion is nowhere near as
large as the Debtor asserts.  Moreover, and based upon the
Debtor's own proposed budget, any equity cushion that the Bank
does enjoy will likely be quickly diminished," ESB says.

ESB is represented by Daniel J. McGarry, Esq. --
dmcgarry@whdlaw.com -- at Whyte Hirschboeck Dudek S.C.

                      About Northwestern Stone

Middleton, Wisconsin-based Northwestern Stone, LLC, operates a
gravel quarry business at four separate locations: one in
Sauk County (Swiss Valley Road, Prairie de Sac), and three in Dane
County (4373 Pleasant View Road, Middleton, 6166 Ramford Court,
Springfield, and 3060 Getz Road, Springdale).   It filed for
Chapter 11 bankruptcy protection on December 16, 2010 (Bankr. W.D.
Wis. Case No. 10-19137).  Timothy J. Peyton, Esq., who has an
office in Madison, Wisconsin, serves as the Debtor's bankruptcy
counsel.  The Debtor estimated its assets and debts at $10 million
to $50 million.


NOVASTAR FINANCIAL: Jefferies Capital Discloses 8.3% Equity Stake
-----------------------------------------------------------------
In a Schedule 13D filing with the Securities and Exchange
Commission on December 20, 2010, Jefferies Capital Partners LLC
disclosed that it beneficially owns 937,500 shares of common
stockof NovaStar Financial, Inc., representing 8.3% of the shares
outstanding.  The number of shares of the Company's common stock
outstanding on October 31, 2010 was 9,368,053.

Other affiliates of Jefferies Capital also disclosed beneficial
ownership of common stock:

                                               Shares      Equity
                                        Beneficially Owned Stake
                                        ------------------ ------
Jefferies Capital Partners IV LP             813,981      7.2%
Jefferies Employee Partners IV LLC            93,752      0.8%
JCP Partners IV LLC                           29,767      0.3%
JCP IV LLC                                   937,500      8.3%
Brian P. Friedman                            937,500      8.3%
James L. Luikart                             937,500      8.3%

                        Exchange Transaction

On December 10, 2010, Jefferies Capital Partners entered into an
Exchange Agreement with Mass Mutual and the Company.  Pursuant to
the Exchange Agreement, Jefferies Capital Partners has agreed,
subject to the satisfaction of certain conditions set forth
therein with the holders of the Company's 8.90% Series C
Cumulative Redeemable Preferred Stock, par value $0.001 per share,
to exchange all shares of Series D 1 Preferred Stock held by
Jefferies Capital Partners for 18,581,000 shares of Common Stock
and $688,500.  The Exchange Transaction is subject to certain
material contingencies beyond the control of the Company or
Jefferies Capital Partners, including the completion of the Series
C Offer.

                           Series C Offer

The Company has filed with the Commission a registration statement
on Form S-4 to register under the Securities Act the offer and
sale of the shares of Common Stock to be issued in the Series C
Offer to the holders of the Series C Preferred Stock, and has
agreed to use reasonable best efforts to cause the Registration
Statement to become effective under the Securities Act as promptly
as practicable.

                          Lock-Up Period

Pursuant to the terms of the Exchange Agreement, Jefferies Capital
Partners will not be permitted to sell or transfer any shares of
Common Stock, Series C Preferred Stock or Series D 1 Preferred
Stock until the earlier of (a) the termination of the Exchange
Agreement or (b) the earliest of (i) three years after the closing
of the Exchange Transaction, (ii) the occurrence of an "ownership
change" under Section 1.382 of the applicable income tax
regulations, (iii) the Company's board of directors takes action
that will result in an "ownership change" under Section 1.382 of
the applicable income tax regulations, or (iv) a determination by
the Company's board of directors that the Company's net operating
loss tax benefits will not be realized in whole or in part.

                          Voting Agreement

Pursuant to the terms of the Exchange Agreement, Jefferies Capital
Partners has agreed to consent to and vote the shares of Series D
1 Preferred Stock held by Jefferies Capital Partners (i) in favor
of any proposal to implement the transactions contemplated by the
Exchange Agreement which is presented at any meetings of the
Company's shareholders and (ii) against any proposal, action or
transaction involving or affecting the Company that would
reasonably be expected to prevent, impede or delay the
consummation of the Transactions.  In addition, Jefferies Capital
Partners has agreed to grant an irrevocable proxy to the Company
to vote the shares of Series D 1 Preferred Stock held by Jefferies
Capital Partners in favor of any proposal to implement the
Transactions at any meetings of the Company's shareholders until
such time as the Exchange Agreement shall terminate or the
Exchange Transaction shall have closed.

Pursuant to the terms of the Exchange Agreement, during the period
commencing on the date the Exchange Transaction closes and ending
on the earlier of (a) the end of the Lock-Up Period and (b) the
next annual meeting of the shareholders of the Company, Jefferies
Capital Partners has agreed to consent to and vote the shares of
Common Stock held by Jefferies Capital Partners in favor of the
nominees of the Company's board of directors receiving the
recommendation of the existing board of directors and, if
applicable, in favor of a Company proposal seeking ratification of
a shareholder rights agreement designed to protect the Company's
net operating losses.

                      Board Observer/Director

Pursuant to the terms of the Exchange Agreement, after the date
the Exchange Transaction closes and during the Lock-Up Period,
Jefferies Capital Partners shall have the right to designate one
board observer or one director of the Company.  In the event
Jefferies Capital Partners elects to designate a director, the
Company will be required to use its reasonable best efforts to
expand the size of its board of directors by one position and
appoint the individual designated by Jefferies Capital Partners to
fill the new position.

                       Shareholder Meetings

Pursuant to the terms of the Exchange Agreement, the Company shall
call and hold meetings of the holders of the Common Stock, the
Series C Preferred Stock and the Series D 1 Preferred Stock for
the purpose of obtaining requisite approvals of each proposal
submitted to a vote at such meetings with respect to the
Transactions.

                   Registration Rights Agreement

Pursuant to the terms of the Exchange Agreement, at the closing of
the Exchange Transaction, the Company, Jefferies Capital Partners
and Mass Mutual shall execute a registration rights agreement in
the form attached as Annex B to the Exchange Agreement committing
the Company to register the shares of Common stock the Investors
receive in the Exchange Transaction.

                           About NovaStar

Kansas City, Missouri-based NovaStar Financial, Inc. (OTCQB:
Common Stock: NOVS; Series C Preferred Stock: NOVSP), is currently
engaged in managing its portfolio of nonconforming residential
mortgage securities and owning and operating two majority owned
subsidiaries: StreetLinks National Appraisal Services LLC, a
national residential appraisal and real estate valuation
management services company; Advent Financial Services LLC, a
start-up business which provides access to tailored banking
accounts, small dollar banking products and related services to
low and moderate income level individuals.  Prior to 2008,
NovaStar originated, securitized, sold and serviced residential
nonconforming mortgage loans.

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


OSCEOLA DEVELOPMENT: Case Summary & 7 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Osceola Development Project, LP
        18753 SE Federal Highway
        Tequesta, FL 33469

Bankruptcy Case No.: 10-48806

Chapter 11 Petition Date: December 23, 2010

Court: U.S. Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Erik P. Kimball

Debtor's Counsel: Alvin S. Goldstein, Esq.
                  Robert C. Furr, Esq.
                  FURR & COHEN, P.A.
                  2255 Glades Road, #337W
                  Boca Raton, FL 33431
                  Tel: (561) 395-0500
                  E-mail: mmitchell@furrcohen.com
                          bnasralla@furrcohen.com

Scheduled Assets: $144,030,178

Scheduled Debts: $133,402,247

The petition was signed by Robert L. Miller, president of general
partner.

Debtor-affiliates filing separate Chapter 11 petition:

        Entity                           Case No.    Petition Date
        ------                           --------    -------------
Osceola Trace Development Corporation    10-48790      12/23/10

Debtor's List of seven Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Shingle Creek Community Dev.       Bonds               $42,400,000
District
c/o Gerald L. Knight, Esq.
Billing, Cochran, Lyles, et al.
515 E. Las Olas Boulevard, 6th Floor
Fort Lauderdale, FL 33301

FM Services, LLC                   Intercompany         $3,572,317
18753 SE Federal Highway           Transfers
Tequesta, FL 33469

Mellon United National Bank        Mortgage               $579,000
A.E. "Bud" Osborne, III
1645 Palm Beach Lakes Boulevard
West Palm Beach, FL 33401-2216

DaszkalBolton LLP                  Accounting Services      $3,037

Kirk Services, LLC                 Miscellaneous           unknown

South Florida Water Mgmt.         Certificate of           unknown
District                          Deposit

South Florida Water Mgmt.         Possible Liability       unknown
District


PEARL COS: 4th Grade Students Ask Judge to Save Orchestra
---------------------------------------------------------
WDRB Fox 41, a Louisville, Ky.-based Fox affiliate, reports that
4th grade students at Liberty Elementary School have written
letters asking the bankruptcy judge to save the Louisville
Orchestra.  The letters were among documents that became public
after the orchestra filed for bankruptcy.

The Louisville Orchestra, Inc., a non-profit orchestra founded in
1937, filed for Chapter 11 protection (Bankr. W.D. Ky. Case No.
10-36321) on December 3, 2010.  The Debtor estimated assets and
debts of $1 million to $10 million in its Chapter 11 petition.
Daniel T. Albers, Jr., Esq., Mark A. Robinson, Esq., and Robert
Wagner, Esq., at Valenti, Hanley & Robinson, in Louisville,
Kentucky, serve as counsel to the Debtor.


PLATINUM STUDIOS: CEO Rosenberg Extend Loans' Due Dates
-------------------------------------------------------
On December 20, 2010, Platinum Studios Inc. entered into a series
of agreements with its CEO, Chairman and major noteholder, Scott
M. Rosenberg, to extend the due dates of certain existing loans
made by Mr. Rosenberg to the Company.

Pursuant to the terms of the agreements, the new due date for
certain loans totaling $2,400,000 will be May 6, 2011 and the new
due date for other loans totaling $1,350,000 will be June 3, 2010.
The interest rate on all of these loans has been increased from 8%
to 10%, effective upon the original due dates of May 6, 2010, and
June 3, 2010, respectively.  The Agreement, with the attendant
schedules and exhibits, is attached hereto as 10.19.

In exchange for these due date extensions, the Company granted to
Rosenberg:

  * two additional sets of warrants to purchase the Company's
    common stock.  The first set allowing for the exercise of up
    to 40,000,000 warrants to purchase shares of the Company's
    common stock, at an exercise price of $0.11 per share, and the
    second set allowing for the acquisition of up to $3,750,000 in
    stock, by exercise of warrants at $0.11 per share.  Both sets
    will expire on October 22, 2020; and

  * an assignment of 25% of the co-ownership rights, to include a
    25% interest in all gross profits, in all intellectual
    property rights in all of the company's existing intellectual
    property.

A full-text copy of the Amendment of Promissory Notes Agreement
between the Company and Scott M. Rosenberg dated October 22, 2010,
is available for free at http://ResearchArchives.com/t/s?717c

A full-text copy of the Intellectual Property Rights Agreement
between the Company and Scott M. Rosenberg dated October 22, 2010,
is available for free at http://ResearchArchives.com/t/s?717d

                      About Platinum Studios

Los Angeles, Calif.-based Platinum Studios, Inc., controls a
library consisting of more than 5,000 characters and is engaged
principally as a comics-based entertainment company adapting
characters and storylines for production in film, television,
publishing and all other media.

The Company's balance sheet as of September 30, 2010, showed
$15.90 million in total assets, $24.48 million in total
liabilities, and a stockholders' deficit of $8.58 million.

HJ Associates & Consultants, LLP, in Salt Lake City, Utah,
expressed substantial doubt about Platinum Studios, Inc.'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 which have resulted in
an accumulated deficit.


PRIUM SPOKANE: Two Creditors Oppose Use of Cash Collateral
----------------------------------------------------------
Creditors Yost, Mooney and Pugh Contractors, Inc., and Specialty
Construction Systems, Ltd., have filed with the U.S. Bankruptcy
Court for the Eastern District of Washington an objection to the
use of cash collateral by Prium Spokane Buildings, L.L.C.

More specifically, the Creditors don't want the Debtor to use the
funds derived from monthly lease payments of Wells Fargo Building
tenant, Shell Oil Company, because the Creditors have a recorded
court order granting a constructive trust on those rents, and they
remain unpaid for substantial tenant improvement work performed on
the 17th Floor of the Wells Fargo Building.

On November 1, 2010, Spokane County Superior Court Judge Plese
entered an order declaring that the Creditors "are entitled to be
made whole and the constructive trust imposed herein [on the rents
derived from the Shell lease] shall not be affected by any
foreclosure sale of the subject property or otherwise, and shall
remain in force until such a time as the Plaintiffs [Yost and
Specialty] are made whole."

On November 3, 2010, the Creditors filed the Superior Court's
order in the Spokane County Auditor's Office.

"The Superior Court has not entered an order specifying the
precise amount required to make the Creditors whole, but the
amounts are approximately $300,000 and $30,000, respectively," the
Creditors say.

The Creditors are represented by John C. Black --
jblack@dunnandblack.com -- and Michael R. Tucker --
mtucker@dunnandblack.com -- at Dunn & Black, PS.

Bellevue, Washington-based Prium Spokane Buildings, L.L.C., filed
for Chapter 11 bankruptcy protection on December 16, 2010 (Bankr.
E.D. Wash. Case No. 10-06952).  Barry W. Davidson, Esq., at
Davidson Backman Medeiros PLLC, serves as the Debtor's bankruptcy
counsel.  The Debtor estimated its assets and debts at $10 million
to $50 million.


PROTEONOMIX INC: M. Cohen Discloses 17% Equity Stake
----------------------------------------------------
In a Schedule 13D filing with the Securities and Exchange
Commission on December 17, 2010, Michael Cohen disclosed that be
beneficially owns 960,460 shares of common stock of Proteonomix,
Inc., representing 17% of the shares outstanding.  The number of
shares outstanding of the Company's common stock, as of
November 4, 2010, was 4,861,984.

                      About Proteonomix Inc.

Proteonomix, Inc. (OTC BB: PROT) -- http://www.proteonomix.com/--
is a biotechnology company focused on developing therapeutics
based upon the use of human cells and their derivatives.

The Company's balance sheet at September 30, 2010, showed
$3.8 million in total assets, $6.3 million in total liabilities,
and a stockholders' deficit of $2.5 million.

KBL, 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 sustained operating losses and capital deficits.


QUATRINE FURNITURE: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Quatrine Furniture, Inc.
        19300 S. Susana Road
        Rancho Dominguez, CA 90221

Bankruptcy Case No.: 10-64856

Chapter 11 Petition Date: December 24, 2010

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

Debtor's Counsel: Peter T. Steinberg, Esq.
                  STEINBERG NUTTER AND BRENT
                  23801 Calabasas Road, Suite 2031
                  Calabasas, CA 91302
                  Tel: (818) 876-8535
                  Fax: (818) 876-8536
                  E-mail: mr.aloha@sbcglobal.net

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

Estimated Debts: $500,000 to $1,000,000

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-64856.pdf

The petition was signed by Gina Quatrine, president.


QUEPASA CORP: Mexicans & Americans Discloses 19.4% Equity Stake
---------------------------------------------------------------
In an amended Schedule 13D filing with the Securities and Exchange
Commission on December 17, 2010, Mexicans & Americans Trading
Together, Inc., disclosed that it beneficially owns 3,333,333
shares of common stock of Quepasa Corporation representing 19.4%
of the shares outstanding.  Altos Hornos de Mexico, S.A.B. de C.V.
also disclosed beneficial ownership of 3,333,333 shares.  As of
November 10, 2010, the number of shares outstanding of Quepasa
Corporation was 13,471,168.

On December 14, 2010, MATT Inc. entered into a Securities Purchase
Agreement with the Company and the other purchasers.  The
Securities Purchase Agreement was subsequently amended by a letter
agreement, dated December 14, 2010, by and among the parties to
the Securities Purchase Agreement.

Pursuant to the terms of the Securities Purchase Agreement, MATT
Inc. agreed to purchase 333,333 shares of Common Stock, out of a
total of 1,716,664 shares offered, at a purchase price of $7.50 a
share, for an aggregate purchase price of $2,499,997.  Subject to
customary closing conditions, the purchase and sale of such shares
of Common Stock is expected to close on December 20, 2010.  MATT
Inc. will use proceeds from a capital contribution from AHMSA to
fund the purchase of such shares of Common Stock.  AHMSA used cash
on hand to fund the capital contribution.

                     About Quepasa Corporation

West Palm Beach, Fla.-based Quepasa Corporation (OTC BB: QPSA)
through its Web site http://www.Quepasa.com/operates as an online
social community for young Hispanics.

The Company's balance sheet at September 30, 2010, showed
$3.39 million in total assets, $6.67 million in total liabilities,
and a stockholders' deficit of $3.28 million.  At Sept. 30, the
Company had accumulated losses from inception of $164.28 million.

As reported in the Troubled Company Reporter on March 9, 2010,
Salberg & Company, P.A., in Boca Raton, Florida, expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted of the Company's
net loss and net cash used in operating activities in 2009 of
$10.58 million and $3.88 million, respectively, and a
stockholders' deficit and an accumulated deficit of $3.90 million
and $159.33 million, respectively, at December 31, 2009.


RACING SERVICES: N. Dak. Ct. Rules on Creditor's Suit v. Nevada
---------------------------------------------------------------
Bankruptcy Judge William A. Hill grants summary judgment in favor
of the state of Nevada with respect to PW Enterprises, Inc.'s
first claim for relief in a lawsuit related to Racing Services,
Inc.'s Chapter 7 case.  Judge Hill says there is no genuine issue
as to any material fact and the State is entitled to judgment as a
matter of law with respect to PWE's first claim for relief.  Judge
Hill rules that summary judgment in favor of either party is
denied in all other respects.  The case will proceed to trial on
PWE's remaining claims.

PW Enterprises, Inc., v. State of North Dakota, a governmental
entity; North Dakota Racing Commission, a regulatory agency; North
Dakota Breeders' Fund, a special fund; North Dakota Purse Fund, a
special fund; and North Dakota Promotions Fund, a special fund,
Adv. Pro. No. 06-7020 (Bankr. N.D. Dak.), asserts four claims
against the defendants.  PWE's first claim for relief is that the
State's claim for unpaid taxes should be disallowed because the
basis for the claim is unenforceable under North Dakota law.

PWE's third and fourth claims for relief allege that the State
received preferential transfers that should be avoided 11 U.S.C.
Sec. 547.

PWE's second claim for relief seeks a determination that the
State's claim is not entitled to priority status because the taxes
allegedly owed by RSI to the State are not taxes, but rather are
fees or assessments.  In its motion for summary judgment, however,
PWE abandoned this claim and conceded that the amounts collected
and claimed by the State constitute taxes.

The State submitted a proof of claim for taxes incurred by Racing
Services between October 2002 and August 2003 for $6,726,872.72.
PWE submitted a proof of claim for money loaned, wagering winnings
and deposits for $2,248,100.86.  PWE is RSI's largest non-
governmental creditor.

PWE filed its complaint on February 2, 2006, and on November 5,
2008, the Court granted PWE derivative standing to pursue its
avoidance action claims against the State.

A copy of Judge Hill's December 22, 2010 Memorandum and Order is
available at http://is.gd/jGobifrom Leagle.com.

Racing Services, Inc., provided simulcast (simultaneous broadcast)
services to licensed off-track betting operators in North Dakota.
RSI and Susan Bala, its president and sole shareholder, were
indicted for federal gambling and money laundering violations.
RSI filed for bankruptcy protection (Bankr. D. Del. Case No. 04-
10349, transferred to Bankr. D. N.D. Case No. 04-30236) on
February 3, 2004.  The case was converted to a case under
Chapter 7 on June 15, 2004.  Kip M. Kaler was appointed as
Chapter 7 bankruptcy trustee.


RAY SHAHANI: Court Dissolves Injunction in East West Suit
---------------------------------------------------------
Bankruptcy Judge Dennis Montali rules that East West Bank is
entitled to a dissolution of the injunction issued in relation to
the lawsuit, Ray K. Shahani, individually and as Trustee of The
888 Trust Dated August 10, 2006, v. United Commercial Bank, et
al., Adv. Pro. No. 10-3022 (Bankr. N.D. Calif.).  The action
brings claims for breach of a construction loan agreement,
wrongful foreclosure, damages and other relief against East West
Bank as assignee from the FDIC as Receiver for United Commercial
Bank and other defendants.  At issue is whether Mr. Shahani or the
Bank first breached the March 16, 2007, Construction Loan
Agreement between United Commercial Bank and the 888 Trust.  If
Mr. Shahani did, the Bank's non-performance thereafter is excused;
if the Bank did, Mr. Shahani might well be entitled to set aside
the foreclosure sale or recover damages.

The suit was first filed in the San Francisco Superior Court.
After Ray K. Shahani filed Chapter 11 (Bankr. N.D. Calif. Case No.
09-33549) on November 11, 2009, he removed it to the Bankruptcy
Court on February 24, 2010.  The Bankruptcy Court issued a
Temporary Restraining Order and later on May 10, 2010, a
Preliminary Injunction prohibiting the Bank from disposing of the
real property at 888 Airport Blvd. in Burlingame, California.

United Commercial Bank loaned $2,025,000 to pay off an existing
loan on the Property and finance the construction of an office
building on it.  The commitment under the CLA was to finance the
completion of what the parties have described as the warm shell of
the building, not the final improvements.

A copy of Judge Montali's December 27, 2010 Memorandum Decision
Following Trial is available at http://is.gd/jGqXafrom
Leagle.com.


REINA FLORES: Case Summary & 11 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Reina L. Flores
        13116 Reservoir Street
        Santa Clarita, CA 91390

Bankruptcy Case No.: 10-64789

Chapter 11 Petition Date: December 23, 2010

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

Judge: Alan M. Ahart

Debtor's Counsel: Thomas P. Giordano, Esq.
                  LAW OFFICE OF THOMAS P. GIORDANO
                  18101 Von Karman Avenue, Suite 560
                  Irvine, CA 92612
                  Tel: (714) 912-7810
                  Fax: (714) 912-7860
                  E-mail: tohmahso@aol.com

Estimated Assets: $0 to $50,000

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

A list of the Debtor's 11 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-64789.pdf


ROBERT LEWIS: Case Summary & 9 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Robert Lee Lewis
        3743 McClelland Street, Apartment A
        Oakland, CA 94619

Bankruptcy Case No.: 10-74621

Chapter 11 Petition Date: December 22, 2010

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

Judge: Roger L. Efremsky

Debtor's Counsel: Peter C. Pappas, Esq.
                  LAW OFFICES OF PETER C. PAPPAS
                  2400 Sycamore Drive, #40
                  Antioch, CA 94509
                  Tel: (925) 754-0772
                  E-mail: ppappaslaw@gmail.com

Scheduled Assets: $1,301,475

Scheduled Debts: $1,702,592

A list of the Debtor's nine largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/canb10-74621.pdf


SAND TECHNOLOGY: Registers 4,000,000 Class A Shares for Resale
--------------------------------------------------------------
Sand Technology Inc. filed with the Securities and Exchange
Commission a Form S-8 Registration Statement to reoffer 4,000,000
Class A Common Shares, no par value, which are issuable pursuant
to awards granted under the Company's 2010 Stock Incentive Plan to
eligible participants who are affiliates of Sand.  Selling
stockholders are the Company's directors and certain of its
executive officers.  The Company will not receive any of the
proceeds from any future sale by the selling stockholders of the
shares covered by the reoffer prospectus.

A full-text copy of the reoffer prospectus is available
at http://is.gd/jDxI5

                       About SAND Technology

Westmount, Quebec-based SAND Technology Inc. (OTC BB: SNDTF)
-- http://www.sand.com/-- provides Data Management Software and
Best Practices for storing, accessing, and analyzing large amounts
of data on-demand while lowering TCO, leveraging existing
infrastructure and improving operational performance.

SAND/DNA solutions include CRM analytics, and specialized
applications for government, healthcare, financial services,
telecommunications, retail, transportation, and other business
sectors.  SAND Technology has offices in the United States,
Canada, the United Kingdom and Central Europe.

The Company's balance sheet at July 31, 2010, showed C$2,117,443
in assets, C$4,578,107 in liabilities and C$2,450,664
shareholders' deficiency.

In its annual report on Form 20-F for the fiscal year ended
July 31, 2010, filed with the U.S. Securities and Exchange
Commission, the Company noted it has incurred operating losses in
the current and past years.  The Company has also generated
negative cash flows from operations and has a significant working
capital deficiency.  "The Company's uncertainty as to its ability
to generate sufficient revenue and raise sufficient capital, raise
significant doubt about the entity's ability to continue as a
going concern," the Company said in the filing.  The Company said
it is in the process of seeking additional financing for its
current operations.

Raymond Chabot Grant Thornton LLP in Montreal, Quebec, audited the
company's financials but did not issue an adverse going concern
opinion in accordance with Canadian reporting standards.


SANSWIRE CORP: Director Seifert Disposes of 10,000 Shares
---------------------------------------------------------
Sanswire Corp. director Thomas G. Seifert filed with the
Securities and Exchange Commission 13 Form 4s to disclose
transactions involving Company shares that he holds.  In his
latest Form 4 filed Tuesday, Mr. Seifert disclosed that he
disposed of 10,000 shares, reducing his stake to 4,364,743 shares.

                       About Sanswire Corp.

Aventura, Fla.-based Sanswire Corp. develops, markets and sells
autonomous, lighter-than-air unmanned aerial vehicles capable of
carrying payloads that provide persistent security solutions at
low, mid and high altitudes.  The Company's airships are designed
for use by government-related and commercial entities that require
real-time intelligence, surveillance and reconnaissance support
for military, homeland defense, border and maritime missions.

The Company's balance sheet as of September 30, 2010, showed
$1.6 million in total assets, $20.4 million in total liabilities,
and a stockholders' deficit of $18.8 million.  The Company had a
working capital deficit of $20.2 million and an accumulated
deficit of $142.4 million at September 30, 2010.

As reported in the Troubled Company Reporter on April 14, 2010,
Rosen Seymour Shapss Martin & Company LLP, in New York, expressed
substantial doubt about the Company's ability to continue as a
going concern, following its 2009 results.  The independent
auditors noted that the Company has experienced significant losses
and negative cash flows, resulting in decreased capital and
increased accumulated deficits.


SHELBRAN INVESTMENTS: Section 341(a) Meeting Scheduled for Jan. 19
------------------------------------------------------------------
The U.S. Trustee for Region 21 will convene a meeting of Shelbran
Investments, L. P.'s creditors on January 19, 2011, at 3:00 p.m.
The meeting will be held at First Floor, 300 North Hogan St. Suite
1-200, Jacksonville, FL 32202.

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.

Ocala, Florida-based Shelbran Investments, L. P., filed for
Chapter 11 bankruptcy protection on December 21, 2010 (Bankr. M.D.
Fla. Case No. 10-10937).  Robert D. Wilcox, Esq., at Brennan,
Manna & Diamond, PL, serves as the Debtor's bankruptcy counsel.
The Debtor estimated its assets and debts at $10 million to
$50 million.


SINCLAIR BROADCAST: Has Retransmission Consent Deal With Mediacom
-----------------------------------------------------------------
Sinclair Group, Inc., on December 22 said it has entered into a
2-year retransmission consent agreement with Mediacom
Communications for the continued carriage of the signals of 22
television stations owned or operated by Sinclair in 16 markets.

Barry Faber, Executive Vice President and General Counsel of
Sinclair, commented, "We are very happy with the outcome of the
negotiations and wish to acknowledge the professional and
reasonable approach Mediacom took in these negotiations, which led
to a mutually acceptable deal with no threat of service
interruption to their subscribers."

                     About Sinclair Broadcast

Based in Baltimore, Maryland, Sinclair Broadcast Group, Inc.
(Nasdaq: SBGI) -- http://www.sbgi.net/-- one of the largest and
most diversified television broadcasting companies, currently owns
and operates, programs or provides sales services to 58 television
stations in 35 markets.  The Company's television group reaches
roughly 22% of U.S. television households and includes FOX,
ABC, CBS, NBC, MNT, and CW affiliates.

                           *     *     *

Sinclair Broadcast has a 'B1' corporate family rating from
Moody's.  It has a 'B+' corporate credit rating from Standard &
Poor's Ratings Services.

"The CFR continues to reflect still high financial risk,
nonetheless, and the inherent cyclicality of the broadcast
television business, among other factors," Moody's said in August
2010.

"The 'B+' rating reflects S&P's expectation that Sinclair will be
able to reduce its leverage further by the end of 2010 through
revenue and EBITDA growth and lower debt balances," explained
Standard & Poor's credit analyst Deborah Kinzer in August.

Moody's Investors Service raised its ratings for Sinclair
Broadcast Group, Inc., and subsidiary Sinclair Television Group,
Inc., including the Corporate Family Rating and Probability-of-
Default Rating, each to Ba3 from B1, and the ratings for
individual debt instruments, concluding its review for possible
upgrade as initiated on August 5, 2010.  Moody's also assigned a
B2 (LGD 5, 87%) rating to the proposed $250 million issuance of
Senior Unsecured Notes due 2018 by STG.  The Speculative Grade
Liquidity Rating remains unchanged at SGL-2.  The rating outlook
is now stable.


SINCLAIR BROADCAST: Time Warner to Remove Stations at Yearend
-------------------------------------------------------------
Sinclair Broadcast Group, Inc., said Tuesday that negotiations
with Time Warner Cable have come to an end as a result of Time
Warner Cable's refusal to engage in further negotiations.  The
most recent financial offer, contemplating a monthly per station
increase that averaged just 10 cents per subscriber, was one made
by Sinclair.  Time Warner Cable has rejected that offer and
refused to provide a financial counter-proposal, effectively
ending negotiations.  As a result, Sinclair television stations
will no longer be carried on Time Warner Cable systems after
midnight on December 31, 2010.

Sinclair's most recent offer to Time Warner Cable offered to
guarantee that the price being paid by Time Warner Cable would be
equal to or less than the price agreed to by every other major
cable and satellite provider with which Sinclair has completed a
deal during the past two years.  This "most-favored nations"
protection included not only Time Warner's primary competitors,
DirecTV and Dish Network, but also the agreement reached with
Charter earlier this year and the agreement reached with Mediacom
just last week.  The pricing proposed by Sinclair is also less
than what published reports indicate the cable industry pays for
less popular programming streams, such as ESPN, TNT, the Disney
Channel, FOX News and others.  Sinclair has also offered to match
the pricing pursuant to which Time Warner Cable claims it will be
able to continue to carry Fox network programming, a proposal
which Time Warner has also rejected without even making a counter-
proposal.  Time Warner has also rejected Sinclair's suggestion to
resolve the dispute using a fair and reasonable binding
arbitration process.  The expiring agreement with Time Warner
Cable relates to carriage of 33 television stations received by
more than 8.5 million of what Time Warner Cable refers to as
primary service units.

On December 16, 2010, Sinclair said Time Warner has effectively
refused Sinclair's offer to submit the retransmission consent
negotiation with Sinclair to binding arbitration.  Although Time
Warner Cable may claim that it is prepared to submit the matter to
arbitration, any such commitment is illusory in light of the
unreasonable conditions that Time Warner Cable placed upon its so-
called consent to arbitration.

"We simply do not understand why Time Warner insists on being
treated better than its competition," Barry Faber, Sinclair's
Executive Vice President and General Counsel, said Tuesday,
"rather than accepting our equitable proposal to provide them
equivalent or better pricing than is paid by their competition.
It is particularly troubling that Time Warner would deprive its
subscribers of the extremely popular programming broadcast by our
television stations when the monthly per station increase we are
seeking amounts to just ten cents per subscriber, an increase made
necessary by rapidly increasing programming costs at our stations.
With such a small increase we suspect that most of our loyal
viewers would prefer that Time Warner Cable, which recently
announced a fee increase of $3.00 per month in at least one
market, stop acting on its threat to 'Get Tough' and we hope that
these viewers will let Time Warner Cable know this by switching to
alternative video providers, many of which charge less than Time
Warner Cable and none of which are currently at risk of losing
access to any of the stations involved."

                           *     *    *

According to Tess Stynes at Dow Jones Newswires, Time Warner Cable
has disputed Sinclair's statements, saying it "has at no time told
Sinclair that we were terminating negotiations."  Instead, the
company said it has presented Sinclair with at least three
possible solutions, including arbitration and it "remains open and
willing" to negotiate.

Dow Jones says the spat between Sinclair and Time Warner Cable
could potentially threaten access to the broadcasts of major
telecasts, like the New England Patriots game that will air on CBS
in Portland, Maine, on Jan. 2.

According to Dow Jones, the Companies' dispute is the latest in a
long line of public standoffs between broadcast station owners
seeking higher programming fees, known as retransmission consent,
and cable and satellite companies struggling to control rising
costs.

                     About Sinclair Broadcast

Based in Baltimore, Maryland, Sinclair Broadcast Group, Inc.
(Nasdaq: SBGI) -- http://www.sbgi.net/-- one of the largest and
most diversified television broadcasting companies, currently owns
and operates, programs or provides sales services to 58 television
stations in 35 markets.  The Company's television group reaches
roughly 22% of U.S. television households and includes FOX,
ABC, CBS, NBC, MNT, and CW affiliates.

                           *     *     *

Sinclair Broadcast has a 'B1' corporate family rating from
Moody's.  It has a 'B+' corporate credit rating from Standard &
Poor's Ratings Services.

"The CFR continues to reflect still high financial risk,
nonetheless, and the inherent cyclicality of the broadcast
television business, among other factors," Moody's said in August
2010.

"The 'B+' rating reflects S&P's expectation that Sinclair will be
able to reduce its leverage further by the end of 2010 through
revenue and EBITDA growth and lower debt balances," explained
Standard & Poor's credit analyst Deborah Kinzer in August.

Moody's Investors Service raised its ratings for Sinclair
Broadcast Group, Inc., and subsidiary Sinclair Television Group,
Inc., including the Corporate Family Rating and Probability-of-
Default Rating, each to Ba3 from B1, and the ratings for
individual debt instruments, concluding its review for possible
upgrade as initiated on August 5, 2010.  Moody's also assigned a
B2 (LGD 5, 87%) rating to the proposed $250 million issuance of
Senior Unsecured Notes due 2018 by STG.  The Speculative Grade
Liquidity Rating remains unchanged at SGL-2.  The rating outlook
is now stable.


SKINNY NUTRITIONAL: Inks Subscription Deal With Investors
---------------------------------------------------------
As of December 22, 2010, Skinny Nutritional Corp. has entered into
subscription agreements with certain accredited investors pursuant
to which the Company will issue to the investors and the investors
agreed to purchase from the Company an aggregate of 24,766,667
shares of Common Stock, par value $0.001 per share of the Company.

                     About Skinny Nutritional

Bala Cynwyd, Pa.-based Skinny Nutritional Corp. (OTC BB: SKNY.OB)
-- http://www.SkinnyWater.com/-- has developed and is marketing a
line of enhanced waters, all branded with the name "Skinny Water"
that are marketed and distributed primarily to calorie and weight
conscious consumers.

The Company's balance sheet as of September 30, 2010, showed
$2,163,677 in total assets, $4,341,282 in total current
liabilities, and a stockholders' deficit of $2,177,605.

As reported in the Troubled Company Reporter on April 6, 2010,
Marcum LLP, in Bala Cynwyd, Pa., 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 incurred losses since inception and has not yet been
successful in establishing profitable operations.


STATION CASINOS: Proposes to Assign Contracts to FG Opco
--------------------------------------------------------
Debtors Station Casinos, Inc., Northern NV Acquisitions, LLC, Reno
Land Holdings, LLC, River Central, LLC, and Tropicana Station,
LLC, seek the Court's authority to assume and assign certain
contracts to FG Opco Acquisitions LLC or its designee on the
Effective Date of the confirmed plan of reorganization.  The
Debtors also ask the Court to set cure amounts to be paid in
connection with the assignment.

One of the integral components of the Confirmed Plan is the sale
of substantially all of the operating assets of SCI, including the
assets of certain wholly-owned subsidiaries of SCI, pursuant to a
Court-approved asset purchase agreement entered into by FG Opco,
the Debtors and the wholly-owned subsidiaries of SCI signatories.

Among the Opco Assets contemplated to be transferred to FG Opco
under the APA, the Confirmed Plan and the Confirmation Order, are
numerous executory contracts and unexpired leases of non-
residential real property entered into by the APA Sellers as part
of the normal operations of their respective businesses.  In the
months subsequent to the entry of the Confirmation Order, in
compliance with the APA, the APA Sellers have provided FG Opco
with access to and lists of all executory contracts and leases to
which the APA Sellers are parties.  In turn, FG Opco has
identified which contracts and leases it wants Debtors to assume
and assign.

The Debtors believe there are no existing defaults under any of
the Contracts and no unpaid sums.  As a result, the Debtor do not
anticipate that any Contract counter-party will oppose the Motion
under Section 365(b) of the Bankruptcy Code and no "cure" payments
are due under any of the Contracts.

A list of the commercial contracts or lease that the Debtors seek
to assume and assign is available for free at:

       http://bankrupt.com/misc/SCI_Cntrcts&Licenses.pdf

A list of the Employee Agreements that the Debtors seek to assume
and assign is available for free at:

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

FG Opco has conditioned the assumption and assignment of each of
the Employment Agreements, Non-Compete Agreements and
Confidentiality Agreements upon certain conditions including,
among other things, a requirement that an employee sign and
deliver to FG Opco an Employment Agreement Assignment and Release.

Thomas M. Friel, executive vice president, Chief Accounting
Officer, and treasurer of Station Casinos, Inc., filed with the
Court a declaration in support of the Motion.  Mr. Friel believes
that the Motion is necessary, essential and appropriate for
implementing the Confirmed Plan and the APA to comply with the
Confirmation Order.

                        About Station Casinos

Station Casinos, Inc., is a gaming and entertainment company that
currently owns and operates nine major hotel/casino properties
(one of which is 50% owned) and eight smaller casino properties
(three of which are 50% owned), in the Las Vegas metropolitan
area, as well as manages a casino for a Native American tribe.

Station Casinos Inc., together with its affiliates, filed for
Chapter 11 protection on July 28, 2009 (Bankr. D. Nev. Case No.
09-52477).  Milbank, Tweed, Hadley & McCloy LLP serves as legal
counsel in the Chapter 11 case; Brownstein Hyatt Farber Schreck,
LLP, as regulatory counsel; and Lewis and Roca LLP is local
counsel.  Lazard Freres & Co. LLC is investment banker and
financial advisor.  Kurtzman Carson Consultants LLC is the claims
and noticing agent.

In its bankruptcy petition, Station Casinos said that it had
assets of $5,725,001,325 against debts of $6,482,637,653 as of
June 30, 2009.  About 4,378,929,997 of its liabilities constitute
unsecured or subordinated debt securities.

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


STATION CASINOS: Seeks Determination of Zero Income-Tax Liability
-----------------------------------------------------------------
Station Casinos Inc. and its units ask the Bankruptcy Court to
determine that there will be no federal tax liability arising as a
consequence of the consummation of the confirmed Plan of
Reorganization and the related approved Restructuring
Transactions.

To the extent any other tax liability arises as a consequence of
the consummation of the SCI Plan and any of the Restructuring
Transactions, the Debtors ask the Court to determine that a cash
reserve for $5 million to satisfy any tax liabilities is
sufficient.

Thomas M. Friel, Executive Vice President, Chief Accounting
Officer, and Treasurer of Station Casinos, Inc., states in a
declaration that the Debtors, on June 22, 2010, submitted to the
Internal Revenue Service a memorandum in which the Debtors laid
out for the IRS their capital structure, the details of the
restructuring transactions that will be implemented on the
effective date of the SCI Plan, and why Section 267 of the
Internal Revenue Code does not apply to disallow any portion of
the losses that will be recognized in the restructuring
transactions.  Mr. Friel adds that SCI has outstanding two classes
of common stock: (i) voting common stock that has one-millionth of
the economic rights of the SCI non-voting common stock; and (ii)
non-voting common stock that has the remaining economic rights.
The existence of both voting and non-voting common stock
facilitates SCI's compliance with regulatory requirements that are
applicable to its gaming business, he says.

In further support of the request, Grant J. Milleret, a Certified
Public Accountant and sole owner of Grant J. Milleret CPA, which
prepared all of the federal and state tax returns for SCI its
affiliates since 1995, states that as a consequence of the
consummation of the SCI Plan, the SCI Group will recognize
significant amounts of: (i) gain and loss on certain taxable asset
transfers; (ii) cancellation of indebtedness income; (iii) income
relating to the triggering of a large deferred intercompany gain;
and (iv) income relating to certain excess loss accounts in
subsidiary stock.  The combination of gains and losses on asset
transfers, COD income, triggered deferred intercompany gain, and
taxable ELA income will result in overall net taxable gain to the
SCI Group, excluding capital losses, of approximately $275
million, he says.  However, the SCI Group will have sufficient net
operating losses to offset all of the
SCI Group's regular U.S. federal income tax liability arising as a
consequence of the consummation of the SCI Plan, he relates.

The Debtors sought and obtained leave to file the Motion in excess
of the page limit.  The Debtors assert that the matters discussed
in the Motion require detailed explication, all of which simply
could not be wedged into a 15 page pleading.

The Debtors propose that the hearing on the Motion be set for
February 17, 2011, and the objection deadline for January 19.

                        About Station Casinos

Station Casinos, Inc., is a gaming and entertainment company that
currently owns and operates nine major hotel/casino properties
(one of which is 50% owned) and eight smaller casino properties
(three of which are 50% owned), in the Las Vegas metropolitan
area, as well as manages a casino for a Native American tribe.

Station Casinos Inc., together with its affiliates, filed for
Chapter 11 protection on July 28, 2009 (Bankr. D. Nev. Case No.
09-52477).  Milbank, Tweed, Hadley & McCloy LLP serves as legal
counsel in the Chapter 11 case; Brownstein Hyatt Farber Schreck,
LLP, as regulatory counsel; and Lewis and Roca LLP is local
counsel.  Lazard Freres & Co. LLC is investment banker and
financial advisor.  Kurtzman Carson Consultants LLC is the claims
and noticing agent.

In its bankruptcy petition, Station Casinos said that it had
assets of $5,725,001,325 against debts of $6,482,637,653 as of
June 30, 2009.  About 4,378,929,997 of its liabilities constitute
unsecured or subordinated debt securities.

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


STATION CASINOS: Wants to Amend Plan, Asks for Confirmation
-----------------------------------------------------------
Station Casinos Inc. and its debtor affiliates ask authority from
Judge Gregg W. Zive of the U.S. Bankruptcy Court for the District
of Nevada to modify their Plan of Reorganization and confirm the
Plan as modified under Section 1129 of the Bankruptcy Code.

By amending the Plan, the Debtors intend to:

  (a) distribute cash, rather than NPH Warrants, to Eligible
      Opco Unsecured Creditors that hold the smallest Allowed
      Claims, for purposes of administrative convenience and
      very substantial cost savings; and

  (b) make a charitable donation to the Boys and Girls Clubs
      of Las Vegas, under the doctrine of cy pres, in lieu of
      distributing $2,850 in NPH Warrants or cash, in the
      aggregate, to the 22,400 members of the Lukevich
      Plaintiffs Class.

The Debtors' Plan incorporates the terms of a settlement between
the Debtors and the Official Committee of Unsecured Creditors
pursuant to which (a) Eligible Opco Unsecured Creditors will
receive NPH Warrants to purchase up to 2.5% of the total equity
interests in Station Holdco LLC, (b) Eligible Opco Unsecured
Creditors that are Accredited Investors and hold a certain minimum
amount of Allowed Claims may participate in the Propco Rights
Offering and purchase up to approximately 15% in the aggregate of
the total equity interests in Holdco, and (c) Qualified Eligible
Opco Unsecured Creditors may participate in any Post-Effective
Equity Raise.

In connection with the hearing to confirm the Plan, the Debtors
explained that the actual documentation of, as well as the
practical and legal mechanisms for soliciting binding commitments
to participate in the Propco Rights Offering and for allocating
and distributing the NPH Warrants and NPH Investment Rights, would
not be determined and resolved until after the Confirmation
Hearing.  The Debtors, the Creditors' Committee and the Put
Parties have reached agreement on the Plan implementation
mechanisms.

By this motion, the Debtors also seek approval of the plan
implementation mechanisms so that the Debtors may commence
solicitation of binding participation and funding commitments in
respect of the Propco Rights Offering from Eligible Opco Unsecured
Creditors that are Accredited Investors.

The Debtors' proposal contemplates cashing out approximately
$700 million of the smallest Eligible Opco Unsecured Creditors
Claims, leaving approximately another $1.64 billion of the largest
claims that would still receive only warrants, not cash.  The
Debtors propose to base the cash-out price on the midpoint of
value for the NPH Warrants as determined in the Confirmation
Order.  That range of value was $400,000 to $2.3 million; and the
midpoint is $1.35 million.  Thirty percent of $1.35 million is
$405,000.  Therefore, the Debtors propose to pay out approximately
$405,000 in the aggregate to Eligible Opco Unsecured Creditors
holding Allowed Claims that are less than $5 million.

As a result of cashing out 30% of the total amount of Claims held
by creditors in Class S.4 and S.5, the remaining 70% of Class S.4
and S.5 Claims will receive NPH Warrants exercisable to purchase
1.775% of the equity in Holdco (calculated as 70% of 2.5%).  This,
according to Paul Aronzon, Esq., at Milbank, Tweed, Hadley &
McCloy LLP, in Los Angeles, California, does not change in any way
the amount of equity originally contemplated to be received by the
70% of the total of Class S.4 and S.5 Claims, because, even if no
cash out was proposed, the referenced 70% of Class S.4 and S.5
Claims would have received NPH Warrants exercisable to purchase
1.775% of the equity in Holdco.

In addition to seeking authority to cash out those Eligible Opco
Unsecured Creditors whose Allowed Claims are less than $5 million,
the Debtors seek authority to make the expected $2,850 aggregate
cash-out payment to the Lukevich Payment Class to a charity in the
Las Vegas area that serves the needs of the members of the class -
- the Boys and Girls Clubs of Las Vegas -- under the doctrine of
cypres.

Mr. Aronzon relates that the Debtors have investigated the cost of
making the distribution of either cash or warrants of a value of
approximately 12c to each of 22,400 present and former employees.
The Settlement Administrator for the Lukevich Plaintiffs Class
Settlement has estimated that the cost of issuing checks and
mailing them would be, in the aggregate, in excess of $60,000 --
all for the purpose of distributing $2,850.  The annual cost of
using a third party warrant agent to administer a warrant program
for 22,400 holders also would be many multiples of the aggregate
value of the warrants; for warrants that by their own terms are
not exercisable for several years, Mr. Aronzon says.  In either
event, whether distributing warrants or cashing them out, it is
entirely impractical to make any payment other than a lump sum
payment to a charity that would provide benefits to the Debtors'
employees, like the Boys and Girls Clubs of Las Vegas, he adds.

Accordingly, the Debtors seek an exemption from distributing
warrants or cash to the individual members of the Lukevich
Plaintiffs Class, and seek authority to make a lump sum $5,000
charitable contribution to the Boys and Girls Clubs of Las Vegas
in lieu thereof.

A hearing to consider approval of the request will be held on
January 10, 2011.

                        About Station Casinos

Station Casinos, Inc., is a gaming and entertainment company that
currently owns and operates nine major hotel/casino properties
(one of which is 50% owned) and eight smaller casino properties
(three of which are 50% owned), in the Las Vegas metropolitan
area, as well as manages a casino for a Native American tribe.

Station Casinos Inc., together with its affiliates, filed for
Chapter 11 protection on July 28, 2009 (Bankr. D. Nev. Case No.
09-52477).  Milbank, Tweed, Hadley & McCloy LLP serves as legal
counsel in the Chapter 11 case; Brownstein Hyatt Farber Schreck,
LLP, as regulatory counsel; and Lewis and Roca LLP is local
counsel.  Lazard Freres & Co. LLC is investment banker and
financial advisor.  Kurtzman Carson Consultants LLC is the claims
and noticing agent.

In its bankruptcy petition, Station Casinos said that it had
assets of $5,725,001,325 against debts of $6,482,637,653 as of
June 30, 2009.  About 4,378,929,997 of its liabilities constitute
unsecured or subordinated debt securities.

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


STILLWATER MINING: Norimet Reduces Stake to 0% After Sale
---------------------------------------------------------
In an amended Schedule 13D filing with the Securities and Exchange
Commission on December 20, 2010, Norimet Limited, NN Metal Holding
SA, Norilsk Nickel Holding SA and MMC Norilsk Nickel disclosed
that as of December 16, 2010, none of them hold any shares of
Stillwater Mining Company common stock.

On December 13, 2010, Norimet sold 37,000,000 shares of Stillwater
common stock in an underwritten secondary public offering at a
price to the public of $19.50 per share and 9,000,000 shares of
Stillwater common stock to UBS Securities LLC.  Also on December
13, 2010, the underwriters of the Common Offering announced they
were exercising their over-allotment option to purchase an
additional 3,813,222 shares of Stillwater's common stock at the
Common Offering price.

As of December 13, 2010, the Reporting Persons ceased to be the
beneficial owners of more than five percent of the outstanding
shares of Stillwater common stock.  Following these transactions,
as of December 16, 2010, none of the Reporting Persons hold any
shares of Stillwater common stock.

                      About Stillwater Mining

Billings, Montana-based Stillwater Mining Company --
http://www.stillwatermining.com/-- is the only U.S. producer of
palladium and platinum and is the largest primary producer of
platinum group metals outside of South Africa and Russia.  The
Company's shares are traded on the New York Stock Exchange under
the symbol "SWC."

The Company's balance sheet at Sept 30, 2010, showed
$778.23 million in total assets, $287.90 million in total
liabilities, and stockholders' equity of $490.33 million.

Stillwater carries 'Caa1' corporate family and probability of
default ratings, with 'stable' outlook, from Moody's Investors
Service.  It has 'B' issuer credit ratings from Standard & Poor's.


STRAWBERRY FARMS: Preston Strawberry Wants Ch. 11 Case Dismissed
----------------------------------------------------------------
Preston Strawberry Funding Associates asks the U.S. Bankruptcy
Court for the District of Connecticut to dismiss the involuntary
petition to put Strawberry Farms, LLC, into Chapter 11 bankruptcy.

On January 4, 2008, Preston Strawberry loaned the sum of
$2,500,000 to the Alleged Debtor.  Preston Strawberry holds a
second position mortgage and note and TD Bank holds a first
position mortgage and note covering the Debtor's property.  Hyman
Biber controls and owns the Alleged Debtor.  As security for the
loan, Mr. Biber personally guaranteed the loan.  As additional
security for the loan, Mr. Biber inter alia provided Preston
Strawberry with a personal guaranty and a pledge of his interest
in certain of the campground companies, which RV Companies are
related to the Alleged Debtor.  The Alleged Debtor defaulted on
the Loan on or about November 1, 2008, when it failed to make the
required payment due at that time.  The Loan remains in default
with approximately $3,500,000, with interest, attorneys fees and
other costs due and owing.  The Alleged Debtor also defaulted on
the TD Loan.

Preston Strawberry says that the involuntary bankruptcy filing
doesn't comply with the jurisdictional requirements of Section
303(b)(1) of the U.S. Bankruptcy Code.  Preston Strawberry also
claims that ABCO Realty, LLC, made the filing in bad faith in and
with the collusion of Biber and the Alleged Debtor.  Preston
Strawberry states, "This matter was commenced by one creditor,
ABCO.  ABCO holds a third mortgage and note covering most of the
Property.  Presently, ABCO is an out-of-the-money mortgagee."

Preston Strawberry claims that while ABCO may have warranted the
number of creditors by its involuntary petition, it has done so
with actual knowledge that the Alleged Debtor has more than twelve
qualifying creditors.  "Such knowledge has been gleaned from
sixteen months of litigating the State Court Action.  Such action
has involved numerous statements and submissions by Biber and the
Alleged Debtor.  Such statements and submissions directly regard
the finances of Biber and the Alleged Debtor including detailed
lists of creditors and payments made to such creditors during the
litigation and receivership.  ABCO has both reviewed and obtained
such information.  Based on such information, ABCO knew, or at the
very least, should have known, that the Alleged Debtor has more
than twelve creditors," Preston Strawberry says.

According to Preston Strawberry, the Alleged Debtor is unable to
effectively reorganize.  TD Bank commenced a foreclosure action in
state court on September 4, 2009.  The State Court Action would
have resulted in a judgment of strict foreclosure, save the
federal tax liens, which require under applicable state law that
the Property be foreclosed by sale only.  "Mr. Biber, the Alleged
Debtor and the RV Companies in the past two years have simply been
unable to secure the financing necessary to avoid foreclosure and
no legitimate prospects exist.  The Property is not generating the
funds needed to adequately protect TD Bank, Preston and ABCO.  In
fact, without infusion of cash by TD Bank as part of the
receivership, there were insufficient funds to get to the
February 26, 2011 foreclosure date," Preston Strawberry states.

Preston Strawberry seeks punitive damages against the petitioning
creditor $100,000 and attorney fees.

Preston Strawberry is represented by Mark Stern, Esq. --
mark@msternlaw.com -- at Mark Stern & Associates, LLC.

Preston, Connecticut-based ABCO Realty, LLC, filed an involuntary
Chapter 11 petition for Strawberry Farms, L.L.C., on December 17,
2010 (Bankr. D. Conn. Case No. 10-24278).


SUNCAL COS: Calif. Court Approves Compromise With Lehman
--------------------------------------------------------
Dow Jones Newswires' Patrick Fitzgerald reports that Judge Erithe
A. Smith of the U.S. Bankruptcy Court in Santa Ana, Calif.,
approved a compromise between Lehman Brothers Holdings Inc.'s
commercial-paper unit and Chapter 11 trustee Alfred H. Siegel,
paving the way for the sale of a handful of stalled Southern
California real-estate projects Lehman helped finance in
conjunction with developer SunCal Cos.

Mr. Siegel oversees the bankruptcy cases of several SunCal real-
estate projects encompassing more than 5,000 acres in Southern
California.  According to Dow Jones, the properties at issue
include McAllister Ranch, a 2,070-acre planned residential
community near Bakersfield and a pair of developments -- McSweeny
Farms and SummerWind Ranch -- in Riverside County.

Dow Jones relates those properties, which took on more than
$300 million in debt in 2006 and 2007, were valued at just
$62 million, according to court papers filed earlier this year.

According to Dow Jones, under the compromise deal, Mr. Siegel will
seek to sell the properties through a Chapter 11 plan.  Lehman and
other first-lien lenders, owed $230 million, will have the right
to bid their debt to acquire the land.  The initial bid will be
$45 million, according to court filings.  Lehman has agreed to
cover the trustee's expenses and allow a portion of the sale
proceeds and any other recoveries to flow to unsecured creditors.

Dow Jones notes SunCal Management, which had opposed the
compromise, plans to file its own bankruptcy-exit plan for the
properties, according the company's lawyer Ronald Rus.  He says
SunCal's plan will offer a better recovery to creditors than
Lehman's proposal.

Dow Jones says the deal remains subject to certain "narrow
conditions."  Among the "narrow conditions" the judge set in
approving the compromise, is a requirement that Lehman disclose
how much the lenders intend to credit bid for the properties.  Mr.
Rus also said the judge blocked Lehman's commercial-paper unit
from immediately foreclosing on the properties.  Instead, Lehman
must complete the sale through the Chapter 11 plan process.

Dow Jones further reports Judge Smith also approved the disclosure
statement describing the properties' bankruptcy-exit plan, court
papers said.

                      About SunCal Companies

SunCal Companies -- http://www.suncal.com/-- has more than
250,000 residential lots and 10 million square feet of commercial
space in various stages of development throughout California,
Arizona, Nevada and New Mexico.  Some of SunCal's communities
include Amerige Heights in Fullerton, Lincoln Crossing near
Sacramento and Terra Lago and Fairway Canyon near Palm Springs.
SunCal Companies recently added an active-adult, commercial,
homebuilding, multifamily and urban divisions; and expanded to
Florida, Texas and Washington, D.C.

Irvine, California-based Palmdale Hills Property, LLC, develops
real estate property.  It filed for Chapter 11 protection on
Nov. 6, 2008 (Bankr. C. D. Calif. Case No. 08-17206).  Affiliates
who also filed separate Chapter 11 petitions include: SunCal
Beaumont Heights, LLC; SunCal Johannson Ranch, LLC; SunCal Summit
Valley, LLC; SunCal Emerald Meadows LLC; SunCal Bickford Ranch,
LLC; SunCal Communities I, LLC; SunCal Communities III, LLC; and
SJD Development Corp.

Paul J. Couchot, Esq., at Winthrop Couchot P.C., represents
Palmdale Hills in its restructuring effort.  The Company estimated
assets and debts of $100 million to $500 million in its Chapter 11
petition.

                       About Lehman Brothers

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

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

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

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

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

                 International Operations Collapse

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

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

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


SUZANNE GERBASI: Case Summary & 5 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Suzanne Frank Gerbasi
          aka Suzy Frank
        1615 Crescent Place
        Venice, CA 90291

Bankruptcy Case No.: 10-64548

Chapter 11 Petition Date: December 22, 2010

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

Judge: Peter Carroll

Debtor's Counsel: M. Jonathan Hayes, Esq.
                  LAW OFFICE OF M. JONATHAN HAYES
                  9700 Reseda Boulevard, Suite 201
                  Northridge, CA 91324
                  Tel: (818) 882-5600
                  Fax: (818) 882-5610
                  E-mail: jhayes@polarisnet.net

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

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

A list of the Debtor's five largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-64548.pdf


TAYLOR BEAN: Bank of America Objects to Wells Fargo Accord
----------------------------------------------------------
Dow Jones' Daily Bankruptcy Review reports that Bank of America
says a settlement deal Taylor, Bean & Whitaker Mortgage Corp.
struck last month with Wells Fargo could impede creditors owed
$1.75 million from pursuing potentially valuable lawsuits.

As reported by the Troubled Company Reporter on December 21, 2010,
Judge Jerry A. Funk put his stamp of approval on the Second
Amended and Restated Disclosure Statement with respect to the
Second Amended and Restated Joint Plan of Liquidation proposed by
Taylor Bean and the Official Committee of Unsecured Creditors
appointed in those chapter 11 cases.  Accordingly, the Debtors and
the Committee may now solicit creditors for their votes to accept
the plan.

The Record Data for determining who can vote on the plan is
Nov. 5, 2010.  Ballots must be cast by Jan. 12, 2011, and any
objections to the plan of liquidation must be filed and served by
that date.  A confirmation hearing will be held on Jan. 19, 2011,
in Jacksonville, Fla.

Copies of the Plan, Disclosure Statement and other relevant
documents are available at http://www.bmcgroup.com/tbwmortgage/at
no charge.

                        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 sought Chapter 11 protection (Bankr. M.D. Fla. Case
No. 09-07047) on August 24, 2009.  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.

Jeffrey W. Kelly, Esq., and J. David Dantzler, Jr., Esq., at
Troutman Sanders LLP, in Atlanta, Ga., and Russel M. Blain, Esq.,
and Edward J. Peterson, III, Esq., at Stichter, Riedel, Blain &
Prosser, PA, in Tampa, Fla., represent the Debtors.  Paul Steven
Singerman, Esq. -- singerman@bergersingerman.com -- and Arthur J.
Spector, Esq. -- aspector@bergersingerman.com -- at Berger
Singerman PA, in Miami, Fla., represent the Committee.  BMC Group,
Inc., serves as the claims and noticing agent.


TERRESTAR NETWORKS: Court Sets Confirmation Hearing for March 4
---------------------------------------------------------------
Judge Sean Lane of the U.S. Bankruptcy Court for the Southern
District of New York approved the Disclosure Statement describing
the Joint Chapter 11 Plan of Reorganization of TerreStar Networks
Inc., TerreStar National Services, Inc., 0887729 B.C. Ltd.,
TerreStar License Inc., TerreStar Networks Holdings (Canada)
Inc., and TerreStar Networks (Canada) Inc.

In an order dated December 22, 2010, Judge Lane held that the
Disclosure Statement provides holders of claims entitled to vote
on the Plan with adequate information to make an informed
decision on whether to vote to accept or reject the Plan in
accordance with Section 1125(a)(1) of the Bankruptcy Code.

The Court's ruling came in light of an agreement the Debtors
reached with certain of their creditors at the December 22
hearing with respect to a rights offering backstop commitment,
International Business Times relates.  The parties considered the
amended backstop commitment EchoStar Corporation placed on the
table shortly before the Disclosure Statement hearing date.

Pursuant to the Amended EchoStar Backstop Commitment, the
parties agreed that EchoStar is committed to backstop the
entire $125 million rights offering contemplated under the
Debtors' Plan.  EchoStar originally made a guarantee to
backstop only $100 million of the rights offering.

The Amended Backstop Agreement also provides that any holder of
15% senior secured PIK notes issued by the Debtors may elect to
participate in backstopping the rights offering.

By virtue of the parties' agreement on the backstop commitment,
Judge Lane also entered an order on December 22, authorizing the
Debtors to enter into the Amended EchoStar Backstop Agreement and
pay the associated transaction expenses and backstop commitment
fee, which is pegged at $3 million.

All objections to the Backstop Agreement not otherwise withdrawn
or resolved are overruled, the Court held.

                     Objections Resolved

Don Jeffrey at Bloomberg News notes that objections to the
Disclosure Statement lodged by creditors, which include Harbinger
Capital Partners LLC, Solus Alternative Asset Management, the
Official Committee of Unsecured Creditors, an ad hoc group of
holders of 15% senior secured notes and Deutsche Bank National
Trust Co., were withdrawn either before or during the December 22
hearing.

The Court overruled the remaining objection filed by Sprint
Nextel, Bloomberg News adds.  Sprint Nextel previously asserted
that it had insufficient time to review the Amended Plan and
Disclosure Statement filed last Friday, December 17.

Sprint Nextel recently filed an adversary complaint, alleging
that the Debtors violated federal law by giving secured lenders a
lien on Federal Communications Commission licenses, Bloomberg
News cites.  Sprint Nextel also asserted it is owed a $100 lien
by the Debtors for services it rendered that benefited the
Debtors.

Judge Lane has directed lawyers for Sprint Nextel and TerreStar
to agree on a schedule for the adversary complaint, Bloomberg
News states.

          TerreStar Gets Nod to Solicit Votes on Plan

With the Court's approval of the Disclosure Statement, the TSN
Debtors are given the go signal to start soliciting votes on
their proposed bankruptcy plan.

The Plan contemplates the conversion of TerreStar's debt into
equity, where 97% of the new equity will be distributed to the
Company's current secured lenders and the remaining 3% stake
would go to unsecured creditors.

Judge Lane approved the contents of the solicitation packages to
be sent to parties entitled to vote on the Plan.  The TSN Debtors
are authorized to distribute the Solicitation Packages no later
than January 3, 2011.

The Court also approved the proposed Voting and Tabulation
Procedures to govern the plan solicitation process, and the TSN
Debtors are permitted to solicit, receive, and tabulate votes on
the Plan in accordance with those Procedures.

The Court has set December 28, 2010, as the Voting Record Date.

The Voting Classes are given until February 18, 2011, at
5:00 p.m. prevailing Eastern Time to cast in their votes for the
Plan.

Judge Lane is set to convene a hearing on March 4, 2011, at
10:00 a.m. prevailing Eastern Time to consider confirmation of
the Plan.

Interested parties have until February 21, 2011, at 5:00 p.m.
prevailing Eastern Time, to file formal objections to the
confirmation of the Plan.

The TSN Debtors will be causing publication of the Confirmation
Hearing Notice within seven business days of the January 3
Solicitation Deadline in the national edition of the Washington
Post, USA Today, and The Globe and Mail.

          Rights Offering to Commence Before Year Ends

Judge Lane also approved the proposed Rights Offering Procedures
and authorized the Debtors to employ Epiq Bankruptcy Solutions
LLC as subscription agent.  The TSN Debtors recently revised the
Rights Offering Procedures in accordance with their revision of
the EchoStar Corporation Backstop Agreement.

The Rights Offering will commence no later than seven business
days after the entry of the Disclosure Statement Order.

The Rights Offering will end, and any unexercised Rights will, at
5:00 p.m. prevailing Eastern Time at the later of (i) 56 days
after the commencement date of the Rights Offering, or (ii) at a
date as TSN and the Plan Sponsor may agree.

Any holder of an Allowed Senior Secured Notes Claims intending to
become a Backstop Party must affirmatively make an election to
become a Backstop Party before February 7, 2011.

                     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: Wins Approval to Reject Services Agreements
---------------------------------------------------------------
The Bankruptcy Court has authorized TerreStar Networks Inc. and
its units to reject certain services and development agreements
with various counterparties.

A list of the Rejected Agreements is available for free at:

         http://bankrupt.com/misc/TrStrRejAgm-1222.pdf

The Contracts to be rejected are services agreements and
development agreements:

  * Chipset Development Agreements: The agreements are for
    services related to the development of mass market chipset
    capability which would be incorporated into "next-
    generation" terrestrial/satellite smartphones.

  * Satellite Launch Services Agreements: The Satellite Launch
    Services Agreements were entered into at a time by which the
    Debtors contemplated, that they would require, certain
    services to facilitate the launch of additional satellites.

  * Office Services Agreements: Under the agreements, the
    Debtors receive services for the management and maintenance
    of, as well as waste removal services for, office facilities
    no longer required by the Debtors.  Specifically, the
    underlying leases for these facilities have been rejected
    during the Chapter 11 cases or the Debtors have vacated the
    office facilities and no longer require the availability or
    maintenance of those facilities.

  * Telecommunications Services Agreements: Pursuant to one of
    the agreements, the Debtors were to receive annual scheduled
    and unscheduled maintenance and telecommunications services
    on certain optical dark fibers in the InnerCity Fiber
    Network.  Pursuant to another of these agreements, the
    Debtors received radio frequency spectrum clearing services.
    Both Telecommunications Services Agreements were entered
    into in anticipation of building a terrestrial network.

  * Advertising Services Agreement: Under the Advertising
    Services Agreement, the Debtors receive services to create
    video advertising for the TSN satellite phone service.

  * Media Monitoring Services Agreement: Under the agreement,
    the Debtors receive media monitoring services including
    media search capabilities and analytical tools.

  * Sales Management Software Services Agreement: Under the
    agreement, the Debtors had access to Salesforce.com's sales
    management software to be used to track and manage sales
    activity.  The Debtors believe that they no longer require
    the services provided under this agreement because the
    services do not provide a benefit to their estates.

Counterparties to the Contracts to be rejected include
Arianespace, Hawk Management, Infineon Technologies AG & SkyTerra
LP, Qualcomm Incorporated, Salesforce.com Inc., and Waste
Management of Illinois Inc.

The Debtors assert the Agreements are no longer of any use to
their estate.  Absent rejection of the Rejected Agreements, the
Debtors further assert that they would incur obligations without
receiving a concomitant benefit.

                     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: Wins Nod for Epiq as Subscription Agent
-----------------------------------------------------------
In connection with the contemplated rights offering under their
Chapter 11 Plan, TerreStar Networks Inc. and its affiliates sought
and obtained approval from the Bankruptcy Court to employ Epiq
Bankruptcy Solutions LLC as subscription agent.

Epiq has significant experience in performing subscription
services in other large Chapter 11 cases, the TSN Debtors note.
They also relate that their DIP Financing Lender and Plan Sponsor
support the employment of Epiq as subscription agent.

As subscription agent, Epiq will:

  (a) consult with TSN and its counsel regarding the Rights
      Offering and documents needed for the Rights Offering;

  (b) review the relevant documents for procedural and timing
      issues, which documents may include the Solicitation
      Procedures Motion and corresponding Order, the Disclosure
      Statement, the Plan, the Subscription Form, and other
      documents;

  (c) coordinate with the TSN's financial advisor, who will
      provide the rights allocation for each Eligible Holder to
      subscribe;

  (d) serve as administrator of a subscription account for TSN;

  (e) prepare certificates of mailing for documents to be mailed
      by Epiq in connection with the Rights Offering;

  (f) handle requests for documents from parties-in-interest;

  (g) respond to telephone inquiries regarding the Rights
      Offering Procedures;

  (h) if requested to do so, establish a website for the posting
      of subscription documents;

  (i) receive and examine any Subscription Forms submitted by
      Eligible Holders;

  (j) confirm payments to the subscription account; and

  (k) undertake other duties as may be agreed upon by TSN
      and Epiq.

Ira S. Dizengoff, Esq., at Akin Gump Strauss Hauer & Feld LLP, in
New York, asserts that the services to be provided by Epiq, as
Subscription Agent, and The Garden City Group, Inc., as the
Debtors' Claims Agent, are distinct and do not overlap.  Epiq is
being retained for the limited purpose of facilitating the Rights
Offering.  Accordingly, Mr. Dizengoff remains, Epiq, in its role
as the Subscription Agent, will not duplicate any services
already provided by the Claims Agent.

Subject to the Court's approval, TSN has agreed to compensate
Epiq for professional services to be rendered by the firm
according to these terms:

  a. Project fee of $10,000 plus hourly charges:

        Executive Director             $410 per hour
        Vice President                 $360 per hour
        Senior Consultant              $300 per hour
        Senior Case Manager            $225 to $275 per hour
        Case Manager (Level 2)         $185 to $220 per hour
        IT Programming Consultant      $140 to $180 per hour
        Case Manager (Level 1)         $125 to $175 per hour
        Clerical                       $40 to $60 per hour

  b. Costs for noticing for subscription mailing: $1.75 to $2.25
     per voting package and subject to a $750 minimum per class
     or issue; document hosting fee: $150 per month.

  c. Noticing to subscription parties: $0.50 to $0.65 per
     holder.

Jane Sullivan, an executive vice president of Epiq, assures the
Court that her firm is a "disinterested person" as term is
defined under Section 101(14) of the Bankruptcy Code.

                     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)


TIGRENT INC: Names Steven Barre as Chief Executive Officer
----------------------------------------------------------
Tigrent Inc. has appointed Steven C. Barre to serve as its Chief
Executive Officer effective December 22, 2010.  Mr. Barre has
served as Interim Chief Executive Officer of Tigrent since March
2010.  Mr. Barre has been on the Board of Directors of the Company
since February 2008, and was the Company's Lead Independent
Director from June 2008 to March 2010.  He has also served on the
Company's Audit and Compensation Committees.

Murray A. Indick, Tigrent's Chairman, said, "On behalf of Tigrent,
I thank Steve for the extraordinary efforts he and his team have
put forth as we address the challenges facing the company.  I am
confident that Steve will continue to bring the same leadership
and focus he has exhibited thus far."

Mr. Barre stated, "I thank the Board of Directors for their
expression of confidence and support, and I look forward to
continuing the difficult work we have begun in restructuring the
business."

Prior to joining Tigrent, Mr. Barre was Senior Vice President,
General Counsel and Secretary of Jacuzzi Brands, Inc. from
September 2001 until February 2007, when the company was sold.
Earlier in his career, he served in various roles as in-house
counsel for Jacuzzi Brands, Inc., and for its former parent
company, the U.S. arm of Hanson PLC.  Prior to joining Hanson, he
was a corporate attorney with the law firm of Weil, Gotshal &
Manges.  Mr. Barre graduated from Cornell University in 1981 and
Columbia Law School in 1984.

                        About Tigrent Inc.

Cape Coral, Fla.-based Tigrent Inc. (OTC BB: TIGE)
-- http://www.tigrent.com/-- is a provider of practical, high-
quality and value-based training, conferences, publications,
technology-based tools and mentoring to help customers become
financially literate.  The Company provides customers with
comprehensive instruction and mentoring in the topics of real
estate and financial instruments investing and entrepreneurship in
the United States, the United Kingdom, and Canada.

The Company's balance sheet as of June 30, 2010, showed
$43.8 million in total assets, $80.7 million in total liabilities,
and a stockholders' deficit of $36.9 million.

In its Form 10-Q report for the quarter ended June 30, 2010, the
Company said it continues to incur a negative cash flow --
totaling $5.9 million for the period ending June 30, 2010 -- due
to the on-going challenges with sales of products.  "We have
insufficient working capital to meet operating needs, raising
substantial doubt about the ability of the Company to continue as
a going concern," the Company said.

In addition to the shift in strategic emphasis from live course
offerings to digitally-delivered programs, the Company said it
continues to implement reductions in staff to align with
anticipated sales level, decreased occupancy costs, and reduced
operating costs in all areas.  The Company is also in current
discussions with some of larger creditors to negotiate amounts
owed.

The Company said it if cannot generate the required revenues to
sustain operations or obtain additional capital on acceptable
terms, it will need to substantially revise its business plan,
file for bankruptcy, sell assets or cease operations and investors
could suffer the loss of a significant portion or all of their
investment in the Company.


TOWNSENDS INC: Wants Filing of Schedules Extended by 30 Days
------------------------------------------------------------
Townsends, Inc., et al., have asked the U.S. Bankruptcy Court for
the District of Delaware to extend the deadline for the filing of
schedules of assets and liabilities and statement of financial
affairs for an additional 30 days.

The Debtors asked for extra time to prepare and file the Schedules
and Statements.  The Debtors maintain significant business
operations in the U.S.  The Debtors said that preparing the
Schedules and Statements accurately and in detail will require
considerable attention from their personnel and advisors, which
would distract attention from their business operations at a
sensitive time when the business can ill afford any disturbance.
Because the Debtors filed a consolidated list of creditors on the
Petition Date and have more than 200 creditors, the Debtors are
required to file the Schedules and Statements within 30 days after
the Petition Date.

Georgetown, Delaware-based Townsends, Inc. -- fka Townsend
Speciality Foods -- filed for Chapter 11 bankruptcy protection on
December 19, 2010 (Bankr. D. Del. Case No. 10-14092).

Affiliates Townsend Farms, Inc (Bankr. D. Del. Case No. 10-14093),
Townsends of Arkansas, Inc. (Bankr. D. Del. Case No. 10-14094),
Townsend Farms of Arkinsas, Inc. (Bankr. D. Del. Case No. 10-
14095), and CrestwoodFamrs LLC (Bankr. D. Del. Case No. 10-14096)
filed separate Chapter 11 petitions.

The bankruptcy cases are jointly administered, with Townsends,
Inc., as the lead case.

Derek C. Abbott, Esq., at Morris Nichols Arsht & Tunnell, serves
as the Debtors' bankruptcy counsel.  McKenna Long & Aldridge LLP
serves as the Debtors' special counsel.

Donlin, Recano & Company, Inc., is the Debtors' claims, noticing
and balloting agent.

In its Chapter 11 petition, Townsends, Inc., estimated assets of
$10 million to $50 million and debts of $50 million to
$100 million.

As of December 5, 2010, the Debtors disclosed $131 million in
total assets and $127 million in total debts.


TOWNSENDS INC: Taps McKenna Long as Special Counsel
---------------------------------------------------
Townsends, Inc., et al., ask for authorization from the U.S.
Bankruptcy Court for the District of Delaware to employ McKenna
Long & Aldridge LLP as special counsel, nunc pro tunc to the
Petition Date.

McKenna Long will, among other things:

     a. provide specialized legal services, including advising the
        Debtors with respect to labor and employment, employee
        benefit and general contract matters;

     b. provide legal services in connection with litigation
        matters filed before or after the commencement of the
        Debtors' Chapter 11 cases, other than preference
        litigation, in which one or more of the Debtors is the
        plaintiff;

     c. provided background knowledge of the Debtors' financial
        structure and operations; and

     d. take necessary action to protect and preserve the estates
        of the Debtors, including the prosecution of actions on
        the Debtors' behalf, the defense of any actions commenced
        against the Debtors, and the negotiation of disputes in
        which the Debtors are involved.

McKenna Long will be paid based on these rates:

        Wayne N. Bradley                     $620
        J. Michael Levengood                 $495
        Bryan Bates                          $335
        Jeffrey C. Phillips                  $300

J. Michael Levengood, Esq., a partner at McKenna Long, assures the
Court that the firm is a "disinterested person" as that term
defined in Section 101(14) of the Bankruptcy Code.

Georgetown, Delaware-based Townsends, Inc. -- fka Townsend
Speciality Foods -- filed for Chapter 11 bankruptcy protection on
December 19, 2010 (Bankr. D. Del. Case No. 10-14092).

Affiliates Townsend Farms, Inc (Bankr. D. Del. Case No. 10-14093),
Townsends of Arkansas, Inc. (Bankr. D. Del. Case No. 10-14094),
Townsend Farms of Arkinsas, Inc. (Bankr. D. Del. Case No. 10-
14095), and CrestwoodFamrs LLC (Bankr. D. Del. Case No. 10-14096)
filed separate Chapter 11 petitions.

The bankruptcy cases are jointly administered, with Townsends,
Inc., as the lead case.

Derek C. Abbott, Esq., at Morris Nichols Arsht & Tunnell, serves
as the Debtors' bankruptcy counsel.

Donlin, Recano & Company, Inc., is the Debtors' claims, noticing
and balloting agent.

In its Chapter 11 petition, Townsends, Inc., estimated assets of
$10 million to $50 million and debts of $50 million to
$100 million.

As of December 5, 2010, the Debtors disclosed $131 million in
total assets and $127 million in total debts.


TOWNSENDS INC: Wants to Hire Dalton Edgecomb as CRO
---------------------------------------------------
Townsends, Inc., et al., ask for authorization from the U.S.
Bankruptcy Court for the District of Delaware to employ Huron
Consulting Group's Dalton T. Edgecomb as chief restructuring
officer.

The Debtors want to employ Huron Consulting to provide
restructuring management and advisory services nunc pro tunc to
the Petition Date.  Huron Consulting will, among other things:

     a. compile data and documents necessary to complete the
        bankruptcy petition process and to file first day motions
        with the Court to address operational and financial
        challenges;

     b. negotiate and document the terms of a debtor-in-possession
        financing arrangement;

     c. compile data and analyses necessary to meet the reporting
        requirements that will be mandated by the Debtors'
        lenders, and assist with other aspects of managing the
        interactions with the lender group, including
        communications, preparation for meetings and following up
        on requests; and

     d. compile data and analyses necessary to meet the
        requirements and requests of various parties related to
        the Debtors' restructuring.

Huron Consulting will be paid based on these rates:

        Dalton T. Edgecomb, Chief Restructuring Officer     $725
        Alexandra Mahnken, Senior Financial Analyst         $575
        John Hemingway, Senior Financial Analyst            $540
        Omer Ozgozukara, Financial Analyst                  $425

Dalton T. Edgecomb, managing director at Huron Consulting, assures
the Court that the firm is a "disinterested person" as that term
defined in Section 101(14) of the Bankruptcy Code.

Georgetown, Delaware-based Townsends, Inc. -- fka Townsend
Speciality Foods -- filed for Chapter 11 bankruptcy protection on
December 19, 2010 (Bankr. D. Del. Case No. 10-14092).

Affiliates Townsend Farms, Inc (Bankr. D. Del. Case No. 10-14093),
Townsends of Arkansas, Inc. (Bankr. D. Del. Case No. 10-14094),
Townsend Farms of Arkinsas, Inc. (Bankr. D. Del. Case No. 10-
14095), and CrestwoodFamrs LLC (Bankr. D. Del. Case No. 10-14096)
filed separate Chapter 11 petitions.

The bankruptcy cases are jointly administered, with Townsends,
Inc., as the lead case.

Derek C. Abbott, Esq., at Morris Nichols Arsht & Tunnell, serves
as the Debtors' bankruptcy counsel.  McKenna Long & Aldridge LLP
serves as the Debtors' special counsel.

Donlin, Recano & Company, Inc., is the Debtors' claims, noticing
and balloting agent.

In its Chapter 11 petition, Townsends, Inc., estimated assets of
$10 million to $50 million and debts of $50 million to
$100 million.

As of December 5, 2010, the Debtors disclosed $131 million in
total assets and $127 million in total debts.


TREVOR DAVIS: Files for Chapter 11 to Avoid Foreclosure
-------------------------------------------------------
Theresa Agovino, writing for Crain's New York Business, reports
that developer Trevor Davis filed for personal Chapter 11
bankruptcy on December 22 in an attempt to hang on to his
struggling luxury condo development at 1055 Park Ave.  According
to Ms. Agovino, Mr. Davis said in court papers that one of his
lenders, Zimco Holdings, was planning to hold a UCC foreclosure
sale of his interest in the property.  The sale would have wiped
out Mr. Davis' equity in the property, which he said is
"substantial."

Mr. Davis disclosed assets of $75 million and secured debt of
$50 million in his petition, the report notes.

Crain's relates the court papers said Zimco alleges that Mr. Davis
has defaulted on a loan it made to him, which published reports
say is worth $6 million.  Furthermore, the court papers said the
default on the Zimco loan is tied to a default on a senior loan.
That $15 million loan was recently purchased by Austrian investor
Andreas Badian, according to website The Real Deal, which first
wrote about the bankruptcy.

According to Crain's, Scott Markowitz, Mr. Davis' lawyer, said his
client is continuing to negotiate with Zimco about the sale.  The
bankruptcy filing blocks any sale.

Crain's notes that earlier this year, Mr. Davis lost control of a
development site at 65th Street and Lexington Avenue to Toll
Brothers because he didn't pay his mortgage.


TREVOR DAVIS: Case Summary & 6 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Trevor P. Davis
        188 East 78th Street, 26th Floor
        New York, NY 10021

Bankruptcy Case No.: 10-16722

Chapter 11 Petition Date: December 21, 2010

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Judge: Shelley C. Chapman

Debtor's Counsel: Scott S. Markowitz, Esq.
                  TARTER KRINSKY & DROGIN LLP
                  1350 Broadway, 11th Floor
                  New York, NY 10018
                  Tel: (212) 216-8000
                  Fax: (212) 216-8001
                  E-mail: smarkowitz@tarterkrinsky.com

Estimated Assets: $50,000,001 to $100,000,000

Estimated Debts: $10,000,001 to $50,000,000

Debtor's List of six Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Bank of America           Guaranty of            $20,000,000
225 Franklin Street       Mortgage Loan
Boston, MA 02110

Zimco Holdings LLC        Guaranty of            $7,000,000
1290 Avenue of the        Mortgage
Americas

M&T Bank                  Guaranty of            $2,400,000
One Fountain Plaza        Mortgage Loan
Buffalo, NY 14203

Omni Contracting          Construction Work      $830,000
3 Alan B. Shepard Place
Yonkers, NY 10705

Olshan Grundman, et al.   Legal Fees             $416,000
65 East 55th Street
New York, NY 10022

Top Hill LLC              Guaranty of Lease      $97,000


TWAIN CONDOMINIUMS: Wants to Use City National's Cash Collateral
----------------------------------------------------------------
Twain Condominiums, LLC, asks for authorization from the U.S.
Bankruptcy Court for the District of Nevada to use the cash
collateral until April 30, 2011.

In April 2006, the Debtor entered into a loan transaction with
City National Bank in the amount of $20,370,000, with a maturity
date of November 1, 2007.  On March 25, 2009, the Construction
Loan Agreement was revised pursuant to a Loan Revision
Agreement, whereby the Loan's principal balance was reduced to
$11,404,234.08, and the maturity date was extended to April 1,
2012.  On January 8, 2010, CNB issued a notice requiring a
remargin of the Loan by no less than $1,774,234.  On February 9,
2010, CNB sent a default notice to the Debtor.

Gerald M. Gordon, Esq., at Gordon Silver, explains that the Debtor
needs the money to fund its Chapter 11 case, pay suppliers and
other parties.  The Debtor will use the collateral pursuant to a
budget, a copy of which is available for free at:

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

The Debtor believes that the value of the Collateral is more than
the amounts due and owing to CNB under the Loan Revision Agreement
as of the Petition Date.  The Debtor believes that CNB isn't
entitled to adequate protection payments.  Assuming CNB is not
oversecured, rather than make postpetition "adequate protection"
payments to CNB, the Debtor requests authority from the Court to
use its revenues to pay its expenses related to the operations and
maintenance of the Debtor's property, as well as capital
expenditures for property improvements and renovations, and in
furtherance of expeditiously emerging from bankruptcy.

CNB objects to the Debtor's request to use cash collateral, saying
that it doubts Debtor's ability to successfully reorganize its
financial affairs given the depressed and deteriorating state of
the Southern Nevada real estate market and the severely impaired
value of the Property.  According to CNB, the most recent
appraisal of the Property estimates its value to be only
$6,860,000 as of October 4, 20104, which is over $4,000,000 less
than the undisputed principal balance Debtor owes to CNB.

CNB is represented by Bart K. Larsen, Esq. -- blarsen@klnevada.com
-- at Kolesar & Leatham, CHTD.

Twain Condominiums LLC owns 192 condominium units within the 254-
unit Twain Estates condominium complex at Arville Street and Twain
Avenue.  The Company filed for bankruptcy on December 15, 2010
(Bankr. D. Nev. Case No. 10-33323).  Judge Linda B. Riegle
presides the case.  Thomas H. Fell, Esq., at Gordon Silver
Attorneys and Counselors at Law, represents the Debtor.  The
Debtor estimated both assets and debts of between $10 million and
$50 million in its petition.


TWEETER HOME: Court Rules on CEA Broomfiled Lease Dispute
---------------------------------------------------------
District Judge George A. O'Toole Jr. issued rulings in the case,
CEA Bromfield LLC, v. Maxi Drug, Inc. and American Drug Stores
LLC, Case No. 09-10175 (D. Mass.).  The suit alleges claims of
breach of contract against each defendant for failure to pay rent
and other obligations under a lease.  In an Opinion and Order
dated January 29, 2010, the Court granted summary judgment in
favor of CEA on the issue of liability.  The parties now cross-
move for summary judgment on the issue of damages.

CEA is the landlord by assignment under the Lease originally
entered into on September 8, 1994, by Star Markets Company, Inc.
and American Drug Stores, Inc. for premises in a shopping center
located in Manchester, New Hampshire.  Through a series of
assignments, first Maxi Drug and then NEA Delaware, Inc. d/b/a
Tweeter occupied the premises as tenants under the Lease.  In
2008, Tweeter, the tenant at the time, filed a petition for relief
under Chapter 11, and the bankruptcy court later approved
Tweeter's rejection of the Lease.  The last payment CEA received
from Tweeter was in December 2008.  As detailed in the Court's
January 2010 opinion, the defendants remain liable for the
tenant's obligations under the Lease.

CEA subsequently made efforts to relet the premises, and, after
subdividing the space, executed leases with two new tenants,
Cellco Partnership d/b/a Verizon Wireless and C&C's 111 South
Willow LLC d/b/a Five Guys Burgers and Fries.  The new tenants
have each begun paying rent.  It is undisputed that the rent CEA
receives from the Verizon lease alone exceeds the monthly rent
that would have been due from Tweeter.

The defendants claim that no damages are appropriate in this case.
They advance a "market value" approach for measuring damages under
the Lease, contending that the additional rent CEA will obtain
through the Replacement Leases over the term of the Lease will
exceed what it would have received if Tweeter had not defaulted,
and therefore CEA will, over time, be more than compensated for
its lost rent and mitigation costs.  Essentially, the defendants
ask the Court to credit the excess rent CEA expects to receive in
the future from its new tenants toward the unpaid amount owed
under the Lease by the defendants.

A copy of the Distrit Court's December 16, 2010 Opinion and Order
is available at http://is.gd/jGLCvfrom Leagle.com.

                       About Tweeter Home

Based in Canton, Mass., Tweeter Home Entertainment Group Inc.
-- http://www.tweeter.com/-- sold mid-to high-end audio and
video consumer electronics products.  Tweeter and seven of its
affiliates filed for chapter 11 Protection on June 11, 2007
(Bankr. D. Del. Case Nos. 07-10787 through 07-10796).  Gregg M.
Galardi, Esq., Mark L. Desgrosseilliers, Esq., and Sarah E.
Pierce, Esq., at Skadden, Arps, Slate, Meagher & Flom, LLP,
represented the Debtors.  Kurtzman Carson Consultants LLC acted as
the Debtors' claims and noticing agent.

Bruce Grohsgal, Esq., William P. Weintraub, Esq., and Rachel Lowy
Werkheiser, Esq., at Pachulski Stang Ziehl & Jones LLP; and Scott
L. Hazan, Esq., Lorenzo Marinuzzi, Esq., and Todd M. Goren, Esq.,
at Otterbourg, Steindler, Houston & Rosen, P.C., represented the
Official Committee of Unsecured Creditors.

As of Dec. 21, 2006, Tweeter had total assets of $258,573,353 and
total debts of $190,417,285.  The Debtors' exclusive period to
file a plan of reorganization expired on June 5, 2008.

                         About Tweeter Opco

Tweeter Opco, LLC, was formed in July 2007 to acquire the business
operations and assets of Tweeter Home Entertainment Group, Inc.
Tweeter Opco filed for Chapter 11 protection on Nov. 5, 2008
(Bankr. D. Del. Case No. 08-12646).  Chun I. Jang, Esq., and Cory
D. Kandestin, Esq., at Richards, Layton & Finger, P.A., assisted
the company in its restructuring effort.  The company estimated
assets of $50 million to $100 million and debts of $50 million to
$100 million.

Judge Mary Walrath of the U.S. Bankruptcy Court for the District
of Delaware converted the Opco Debtors' Chapter 11 cases to
Chapter 7 liquidation proceedings effective as of December 5,
2008.  George L. Miller from the accounting firm Miller Coffey
Tate has been appointed to serve as trustee of the Chapter 7
proceedings of Tweeter Opco, LLC, and its affiliates.


UNI-PIXEL: Osmium Capital Reports 7.15% Equity Stake
----------------------------------------------------
Osmium Special Situations Fund Ltd.; Osmium Capital Management
Ltd.; and Chris Kuchanny disclosed in a Schedule 13G filing their
ownership of 509,600 shares or roughly 7.15% of the common stock
of Uni-Pixel, Inc. common stock as of December 10, 2010.

The Woodlands, Tex.-based Uni-Pixel, Inc. (OTC BB: UNXL)
-- http://www.unipixel.com/-- is a production stage company
delivering its Clearly Superior(TM) Performance Engineered Films
to the Lighting & Display, Solar and Flexible Electronics market
segments.

PMB Helin Donovan, 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 the Company has sustained losses and negative cash
flows from operations since inception.

The Company's balance sheet as of September 30, 2010, showed
$1.26 million in total assets, $4.15 million in total liabilities,
and a stockholders' deficit of $2.89 million.


UNI-PIXEL: Raptor Capital Reports 19.07% Equity Stake
-----------------------------------------------------
Raptor Capital Management LP and its affiliated entities disclosed
in a Schedule 13D/A filing with the Securities and Exchange
Commission their ownership, as of December 21, 2010, of 1,037,080
shares of Uni-Pixel, Inc. common stock and 399,021 Uni-Pixel
warrants, representing roughly 19.07% of the Company's outstanding
Common Stock.

                          About Uni-Pixel

The Woodlands, Tex.-based Uni-Pixel, Inc. (OTC BB: UNXL)
-- http://www.unipixel.com/-- is a production stage company
delivering its Clearly Superior(TM) Performance Engineered Films
to the Lighting & Display, Solar and Flexible Electronics market
segments.

PMB Helin Donovan, 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 the Company has sustained losses and negative cash
flows from operations since inception.

The Company's balance sheet as of September 30, 2010, showed
$1.26 million in total assets, $4.15 million in total liabilities,
and a stockholders' deficit of $2.89 million.


UNITED CONTINENTAL: B. Hart Owns 20,956 Shares of Restricted Stock
------------------------------------------------------------------
Brett J. Hart, senior vice president, general counsel and
corporate secretary of United Continental Holdings, Inc. informed
the Securities and Exchange Commission on December 17, 2010, that
he acquired 20,956 restricted stock units of the company.  As a
result of the transaction, Mr. Hart beneficially owned 20,956
restricted stock units of United Continental.

Each restricted unit represents the economic equivalent of one
share of United Continental common stock, and may be settled in
cash or common stock upon vesting at the sole discretion of the
Compensation Committee of United Continental's Board of Directors.

The restricted stock units vest as:

  * 6,985 restricted stock units on December 16, 2011;

  * 6,985 restricted stock units on December 16, 2012; and

  * 6,986 restricted stock units on December 16, 2012.

Mr. Brett previously filed an initial statement of beneficial
ownership of securities, reporting that he did not beneficially
own securities of United Continental as of December 17, 2010.

                  About United Continental

United Continental Holdings, Inc. (NYSE: UAL) --
http://www.UnitedContinentalHoldings.com/, http://www.united.com/
and http://www.continental.com/-- is the holding company for both
United Airlines and Continental Airlines.  Together with United
Express, Continental Express and Continental Connection, these
airlines operate a total of approximately 5,800 flights a day to
371 airports throughout the Americas, Europe and Asia from their
hubs in Chicago, Cleveland, Denver, Guam, Houston, Los Angeles,
New York, San Francisco, Tokyo and Washington, D.C.  United and
Continental are members of Star Alliance, which offers more than
21,200 daily flights to 1,172 airports in 181 countries worldwide
through its 28 member airlines. United's and Continental's more
than 80,000 employees reside in every U.S. state and in many
countries around the world.

United Continental carries 'B2' corporate family and probability
of default ratings, with stable outlook, from Moody's, 'B' issuer
credit ratings, with stable outlook, from Standard & Poor's, and
'B-' issuer default rating from Fitch.

UAL Corp filed for Chapter 11 protection on Dec. 9, 2002 (Bankr.
N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen, Esq., Marc
Kieselstein, Esq., David R. Seligman, Esq., and Steven R. Kotarba,
Esq., at Kirkland & Ellis, represented the Debtors in their
restructuring efforts.  Fruman Jacobson, Esq., at Sonnenschein
Nath & Rosenthal LLP represented the Official Committee of
Unsecured Creditors.  Judge Eugene R. Wedoff confirmed a
reorganization plan for United on Jan. 20, 2006.  The Company
emerged from bankruptcy on Feb. 1, 2006.

At June 30, 2010, UAL had $20.134 billion in total assets against
total current liabilities of $8.573 billion, long-term debt of
$6.281 billion, long-term obligations under capital leases of
$1.01 billion, other liabilities and deferred credits of
$7.022 billion, and a stockholders' deficit of $2.756 billion.


UNITED CONTINENTAL: Expects $8.6-$8.7 Billion Cash at End of 2010
-----------------------------------------------------------------
Jeff Smisek, president and chief executive officer of United
Continental Holdings, Inc., and Zane Rowe, executive vice
president and chief financial officer of the company, were
scheduled to speak at the Hudson Securities Airline Conference
last December 8, 2010, according to the company's regulatory
filing with the Securities and Exchange Commission on December 8,
2010.

United Continental filed with the SEC a copy of the slides for
the presentation, which are accessible for free at:

               http://ResearchArchives.com/t/s?70c6

Mr. Smisek reiterated United's goal to be the airline of choice
for the global business traveler.  United Continental also has
global network with unsurpassed scope, Mr. Smisek noted.

Mr. Rowe said United Continental has a strong financial
performance and expects a $1 billion to $1.2 billion of net annual
synergies.  United Continental also expects to end 2010 with
between $8.6 billion and $8.7 billion in unrestricted cash and
short-term investments.

                  About United Continental

United Continental Holdings, Inc. (NYSE: UAL) --
http://www.UnitedContinentalHoldings.com/, http://www.united.com/
and http://www.continental.com/-- is the holding company for both
United Airlines and Continental Airlines.  Together with United
Express, Continental Express and Continental Connection, these
airlines operate a total of approximately 5,800 flights a day to
371 airports throughout the Americas, Europe and Asia from their
hubs in Chicago, Cleveland, Denver, Guam, Houston, Los Angeles,
New York, San Francisco, Tokyo and Washington, D.C.  United and
Continental are members of Star Alliance, which offers more than
21,200 daily flights to 1,172 airports in 181 countries worldwide
through its 28 member airlines. United's and Continental's more
than 80,000 employees reside in every U.S. state and in many
countries around the world.

United Continental carries 'B2' corporate family and probability
of default ratings, with stable outlook, from Moody's, 'B' issuer
credit ratings, with stable outlook, from Standard & Poor's, and
'B-' issuer default rating from Fitch.

UAL Corp filed for Chapter 11 protection on Dec. 9, 2002 (Bankr.
N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen, Esq., Marc
Kieselstein, Esq., David R. Seligman, Esq., and Steven R. Kotarba,
Esq., at Kirkland & Ellis, represented the Debtors in their
restructuring efforts.  Fruman Jacobson, Esq., at Sonnenschein
Nath & Rosenthal LLP represented the Official Committee of
Unsecured Creditors.  Judge Eugene R. Wedoff confirmed a
reorganization plan for United on Jan. 20, 2006.  The Company
emerged from bankruptcy on Feb. 1, 2006.

At June 30, 2010, UAL had $20.134 billion in total assets against
total current liabilities of $8.573 billion, long-term debt of
$6.281 billion, long-term obligations under capital leases of
$1.01 billion, other liabilities and deferred credits of
$7.022 billion, and a stockholders' deficit of $2.756 billion.


UNITED CONTINENTAL: Gives Notice of Put Option On 5% Notes
----------------------------------------------------------
United Continental Holdings, Inc., in a public statement dated
December 23, 2010, informed holders of the $149,646,114
outstanding principal amount of its 5% Senior Convertible Notes
due 2021 that they have an option, pursuant to the terms of the
Notes, to require the company to purchase, on Feb. 1, 2011, all or
a portion of those holders' Notes at a price equal to $1,000 per
$1,000 principal amount of the Notes, plus any accrued and unpaid
interest to, but not including, Feb. 1, 2011.

Under the terms of the Notes, United Continental has the option to
pay the purchase price for the Notes with cash, stock, or a
combination of cash and stock, and has elected to pay for the
Notes solely with cash.

As required by the rules of the Securities and Exchange
Commission, United Continental submitted a tender offer statement
on Schedule TO on December 23, 2010, with respect to the right of
each holder of the Notes to sell and the obligation of the company
to repurchase the Notes.

United Continental Executive Vice President and Chief Financial
Officer Zane Rowe says the company is the issuer of the Notes and
is obligated to purchase all of the Notes if properly tendered by
the Holders subject to the conditions set forth in an indenture
dated February 1, 2006, among United Continental, United Air
Lines, Inc., and The Bank of New York Mellon Trust Company, N.A.

United Continental will pay to the SEC $10,669 as registration fee
for the Notes, which filing fee equals $71.30 for each $1,000,000
of the value of the transaction

In addition, United Continental issued a notice on December 23,
2010, to the holders of the Notes specifying the terms, conditions
and procedures for exercising the Put Option.  The notice is
available through The Depository Trust Company and the paying
agent, The Bank of New York Mellon.

None of United Continental Holdings, Inc., its board of directors,
or its employees has made or is making any representation or
recommendation to any holder as to whether to exercise or refrain
from exercising the Put Option.

Noteholders' opportunity to exercise the Put Option will commence
on Dec. 30, 2010, and will terminate at 5:00 p.m. EST, on Jan. 31,
2011.  Holders may withdraw any previously delivered purchase
notice pursuant to the terms of the Put Option at any time prior
to 5:00 p.m. EST, on Jan. 31, 2011.

The address of The Bank of New York Mellon is Corporate Trust
Operations, 2 N. La Salle Street, Suite 1020, Chicago, IL 60602,
Attention: Mr. Dan Donovan, Phone: (312) 827-8547, Fax: (312) 827-
8542.

Full-text copies of the Schedule TO and Notice to Noteholders are
accessible for free at:

            http://ResearchArchives.com/t/s?7173
            http://ResearchArchives.com/t/s?7172

                  About United Continental

United Continental Holdings, Inc. (NYSE: UAL) --
http://www.UnitedContinentalHoldings.com/, http://www.united.com/
and http://www.continental.com/-- is the holding company for both
United Airlines and Continental Airlines.  Together with United
Express, Continental Express and Continental Connection, these
airlines operate a total of approximately 5,800 flights a day to
371 airports throughout the Americas, Europe and Asia from their
hubs in Chicago, Cleveland, Denver, Guam, Houston, Los Angeles,
New York, San Francisco, Tokyo and Washington, D.C.  United and
Continental are members of Star Alliance, which offers more than
21,200 daily flights to 1,172 airports in 181 countries worldwide
through its 28 member airlines. United's and Continental's more
than 80,000 employees reside in every U.S. state and in many
countries around the world.

United Continental carries 'B2' corporate family and probability
of default ratings, with stable outlook, from Moody's, 'B' issuer
credit ratings, with stable outlook, from Standard & Poor's, and
'B-' issuer default rating from Fitch.

UAL Corp filed for Chapter 11 protection on Dec. 9, 2002 (Bankr.
N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen, Esq., Marc
Kieselstein, Esq., David R. Seligman, Esq., and Steven R. Kotarba,
Esq., at Kirkland & Ellis, represented the Debtors in their
restructuring efforts.  Fruman Jacobson, Esq., at Sonnenschein
Nath & Rosenthal LLP represented the Official Committee of
Unsecured Creditors.  Judge Eugene R. Wedoff confirmed a
reorganization plan for United on Jan. 20, 2006.  The Company
emerged from bankruptcy on Feb. 1, 2006.

At June 30, 2010, UAL had $20.134 billion in total assets against
total current liabilities of $8.573 billion, long-term debt of
$6.281 billion, long-term obligations under capital leases of
$1.01 billion, other liabilities and deferred credits of
$7.022 billion, and a stockholders' deficit of $2.756 billion.


UNITED CONTINENTAL: Updates Q4/Full Year 2010 Projections
---------------------------------------------------------
United Continental Holdings, Inc., filed with the Securities and
Exchange Commission on December 22, 2010, an investor update
providing forward-looking information for the fourth quarter and
full year 2010.

United Continental Vice President and Controller Chris Kenny
explains that all year-over-year comparisons in the December 22
Investor Update are based on the pro-forma combined company
financial statements set forth in United Continental's investor
update dated November 22, 2010.

                        Capacity

United Continental estimates its fourth quarter consolidated
available seat miles to be up to 4.2% and full year ASM to be up
to 1.1% year-over-year.

                         Revenue

Mr. Kenny relates that United Continental estimates its fourth
quarter consolidated passenger unit revenue to be up
9.75% to 10.75% year-over-year, and mainline PRASM to be up
11.0% to 12.0% year-over-year.

Effective December 14, 2010, United Continental implemented
a revenue sharing structure for its trans-Atlantic joint venture,
which is retroactive to January 1, 2010, Mr. Kenny discloses.
The revenue sharing obligations for the first nine months of 2010
related to this agreement will be accounted for as other operating
expense in the fourth quarter, he says.  Beginning with the fourth
quarter activity, the agreement will be accounted for as an
adjustment to passenger revenue, he states.  United Continental
also expects to book the entire fourth quarter impact in its
December results, he adds.

                     Non-Fuel Expense Guidance

Mr. Kenny relates that fourth quarter consolidated cost per ASM
(CASM), excluding fuel, profit sharing, certain accounting charges
and merger-related expenses for United Continental is expected to
be up 2.25% to 2.75%.  For the full year, United Continental
estimates consolidated CASM excluding fuel, profit sharing,
certain accounting charges and merger-related expenses will be up
2.4% to 2.5%.

United Continental estimates the impact of its revenue sharing
obligations arising from the trans-Atlantic joint venture to be
about $130 million, Mr. Kenny relates.

                          Fuel Expense

United Continental estimates its consolidated fuel price,
including the impact of settled cash hedges, to be $2.43 per
gallon for the fourth quarter and $2.34 per gallon for the full
year.

                        Profit Sharing

Mr. Kenny notes that United Air Lines, Inc. and Continental
Airlines Inc. have separate employee profit sharing plans for
their employees.  United Continental's profit sharing plan for
United Airlines pays 15% of total GAAP pre-tax profits, excluding
special items and stock compensation expense, to the employees of
United Airlines when pre-tax profit excluding special items,
profit sharing expense and stock-based compensation program
expense exceeds $10 million, he explains.

United Continental expects that stock compensation program expense
for United Airlines to be $28 million in the fourth quarter, and
$58 million for the full year, which should be added back to
earnings when calculating profit sharing expense, he discloses.

For Continental, United Continental's profit sharing plan for
Continental creates an award pool of 15% of annual pre-tax income
excluding special, unusual or non-recurring items, Mr. Kenny
notes.

For both United and Continental, profit sharing expense is accrued
on a year-to-date basis, Mr. Kenny explains.

                Non-Operating Income/(Expense)

Non-operating expense for United Continental is estimated to be
between $250 million and $260 million for the fourth quarter, and
between $980 million and $990 million for the full year, Mr. Kenny
says.  Non-operating income/(expense) includes interest
expense, capitalized interest, interest income and other non-
operating income/(expense).

               Pension Expense and Contributions

United Continental expects that its non-cash pension expense for
the pro-forma combined company will be about $107 million for 2010
including the impact of purchase accounting.  This amount excludes
non-cash settlement charges related to lump-sum
distributions, Mr. Kenny discloses.  Settlement charges are
possible during 2010, but United Continental is not able at this
time to estimate the amount of these charges, he tells the SEC.

                   Unrestricted Cash Balance

United Continental expects to end the year with about $8.6 billion
to $8.7 billion in unrestricted cash and short term investments.

                            Taxes

United Continental expects to record a $10 million income tax
expense in the fourth quarter for income tax obligations to the
State of California.

                   Advance Booked Seat Factor
           (Percentage of Available Seats that are Sold)

Mr. Kenny relates that compared to the same period last year, for
the next six weeks, mainline domestic advance booked seat factor
is up 0.2 points, mainline international advance booked seat
factor is down 1.9 points, mainline Atlantic advance booked seat
factor is down 5.2 points, mainline Pacific advance booked seat
factor is up 4.3 points and mainline Latin America advance booked
seat factor is down 3.6 points.  Regional Affiliates advance
booked seat factor is flat to up 0.1 points, he adds.

A full-text copy of the December 22 Investor Update is available
for free at: http://ResearchArchives.com/t/s?7163

                  About United Continental

United Continental Holdings, Inc. (NYSE: UAL) --
http://www.UnitedContinentalHoldings.com/, http://www.united.com/
and http://www.continental.com/-- is the holding company for both
United Airlines and Continental Airlines.  Together with United
Express, Continental Express and Continental Connection, these
airlines operate a total of approximately 5,800 flights a day to
371 airports throughout the Americas, Europe and Asia from their
hubs in Chicago, Cleveland, Denver, Guam, Houston, Los Angeles,
New York, San Francisco, Tokyo and Washington, D.C.  United and
Continental are members of Star Alliance, which offers more than
21,200 daily flights to 1,172 airports in 181 countries worldwide
through its 28 member airlines. United's and Continental's more
than 80,000 employees reside in every U.S. state and in many
countries around the world.

United Continental carries 'B2' corporate family and probability
of default ratings, with stable outlook, from Moody's, 'B' issuer
credit ratings, with stable outlook, from Standard & Poor's, and
'B-' issuer default rating from Fitch.

UAL Corp filed for Chapter 11 protection on Dec. 9, 2002 (Bankr.
N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen, Esq., Marc
Kieselstein, Esq., David R. Seligman, Esq., and Steven R. Kotarba,
Esq., at Kirkland & Ellis, represented the Debtors in their
restructuring efforts.  Fruman Jacobson, Esq., at Sonnenschein
Nath & Rosenthal LLP represented the Official Committee of
Unsecured Creditors.  Judge Eugene R. Wedoff confirmed a
reorganization plan for United on Jan. 20, 2006.  The Company
emerged from bankruptcy on Feb. 1, 2006.

At June 30, 2010, UAL had $20.134 billion in total assets against
total current liabilities of $8.573 billion, long-term debt of
$6.281 billion, long-term obligations under capital leases of
$1.01 billion, other liabilities and deferred credits of
$7.022 billion, and a stockholders' deficit of $2.756 billion.


VENTO FAMILY: Case Summary & 3 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Vento Family Trust
        1520 Macdonald Ranch
        Henderson, NV 89012

Bankruptcy Case No.: 10-33909

Chapter 11 Petition Date: December 27, 2010

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

Judge: Mike K. Nakagawa

Debtor's Counsel: Timothy S. Cory, Esq.
                  TIMOTHY S. CORY & ASSOCIATES
                  8831 W. Sahara Avenue
                  Lakes Business Park
                  Las Vegas, NV 89117
                  Tel: (702) 388-1996
                  E-mail: tim.cory@corylaw.us

Estimated Assets: $10,000,001 to $50,000,000

Estimated Debts: $10,000,001 to $50,000,000

The petition was signed by Carmine Vento, trustee.

Debtor's List of three Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Clark County Treasurer             --                      $45,000
P.O. Box 551220
Las Vegas, NV 89155-1220

Las Vegas Water District           --                       $5,400
1001 S. Valley View Boulevard
Las Vegas, NV 89153

Republic Services, Inc.            --                       $2,000
P.O. Box 78040
Phoenix, AZ 85062-8040


VILICA LLC: Files Schedules of Assets & Liabilities
---------------------------------------------------
Vilica, LLC, has filed with the U.S. Bankruptcy Court for the
Northern District of California, its schedules of assets and
liabilities, disclosing:

  Name of Schedule                     Assets          Liabilities
  ----------------                     ------          -----------
A. Real Property                     $8,440,000
B. Personal Property                 $4,317,273
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                       $3,491,443
E. Creditors Holding
   Unsecured Priority
   Claims                                            To be Amended
F. Creditors Holding
   Unsecured Non-priority
   Claims                                                 $754,400
                                    -----------        -----------
      TOTAL                         $12,757,273         $4,245,843

A copy of the schedules is available for free at:

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

Santa Cruz, California-based Vilica, LLC, filed for Chapter 11
bankruptcy protection on December 13, 2010 (Bankr. N.D. Calif.
Case No. 10-62728).  Stephen T. Davies, Esq., at Turner Litigation
Services, serves as the Debtor's bankruptcy counsel.


VISTA DEL RIO: Case Summary & 8 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Vista Del Rio Corporation
        831 N. Harbor Drive
        Redondo Beach, CA 90277

Bankruptcy Case No.: 10-64266

Chapter 11 Petition Date: December 21, 2010

Court: United States Bankruptcy Court
       Central District Of California (Los Angeles)

Judge: Richard M. Neiter

Debtor's Counsel: Robert M. Yaspan, Esq.
                  LAW OFFICES OF ROBERT M YASPAN
                  21700 Oxnard St., Ste. 1750
                  Woodland Hills, CA 91367
                  Tel: (818) 905-7711
                  Fax: (818) 501-7711
                  E-mail: court@yaspanlaw.com

Scheduled Assets: $3,790,800

Scheduled Debts: $3,532,450

A list of the Company's eight largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-64266.pdf

The petition was signed by Abram Tavera, chairman.


VOLIN LLC: Preston Strawberry Wants Chapter 11 Case Dismissed
-------------------------------------------------------------
Preston Strawberry Funding Associates asks the U.S. Bankruptcy
Court for the District of Connecticut to dismiss the involuntary
Chapter 11 petition for Volin, LLC.

On January 4, 2008, Preston loaned the sum of $2,500,000 to the
Alleged Debtor.  Preston Strawberry holds a second position
mortgage and note and TD Bank holds a first position mortgage and
note covering the Alleged Debtor's property.  Hyman Biber controls
and owns the Alleged Debtor.  As security for the loan, Mr. Biber
has personally guaranteed the loan.  As additional security for
the Loan, Mr. Biber inter alia provided Preston Strawberry with a
personal guaranty and a pledge of his interest in certain of the
campground companies, which RV Companies are related to the
Alleged Debtor.  The Alleged Debtor defaulted on the Loan on
November 1, 2008, when it failed to make the required payment due
at that time.  The Loan remains in default with approximately
$3,500,000, with interest, attorney fees and other costs due and
owing.  The Alleged Debtor also defaulted on the TD Loan.

Preston Strawberry says that the involuntary bankruptcy filing
doesn't comply with the jurisdictional requirements of Section
303(b)(1) of the U.S. Bankruptcy Code.  Preston Strawberry also
claims that ABCO Realty, LLC, made the filing in bad faith in and
with the collusion of Mr. Biber and the Alleged Debtor.  Preston
Strawberry states, "This matter was commenced by one creditor,
ABCO.  ABCO holds a third mortgage and note covering most of the
Property.  Presently, ABCO is an out-of-the-money mortgagee."
Action would have resulted in a judgment of strict foreclosure,
save the federal tax liens, which require under applicable state
law that the Property be foreclosed by sale only. Biber, the
Alleged Debtor and the RV Companies in the past two (2) years have
simply been unable to secure the financing necessary to avoid
foreclosure and no legitimate prospects exist.  Moreover, the
Property is not generating the funds needed to adequately protect
TD Bank, Preston and ABCO.  In fact, without infusion of cash by
TD Bank as part of the receivership, there were insufficient funds
to get to the February 26, 2011 foreclosure date.

Preston Strawberry claims that while ABCO may have warranted the
number of creditors by its involuntary petition, it has done so
with actual knowledge that the Alleged Debtor has more than twelve
qualifying creditors.  "Such knowledge has been gleaned from
sixteen months of litigating the State Court Action.  Such action
has involved numerous statements and submissions by Biber and the
Alleged Debtor.  Such statements and submissions directly regard
the finances of Biber and the Alleged Debtor including detailed
lists of creditors and payments made to such creditors during the
litigation and receivership.  ABCO has both reviewed and obtained
such information.  Based on such information, ABCO knew, or at the
very least, should have known, that the Alleged Debtor has more
than twelve creditors," Preston Strawberry says.

According to Preston Strawberry, the Alleged Debtor is unable to
effectively reorganize.  TD Bank commenced a foreclosure action in
state court on September 4, 2009.  The State Court Action would
have resulted in a judgment of strict foreclosure, save the
federal tax liens, which require under applicable state law that
the Property be foreclosed by sale only.  "Mr. Biber, the Alleged
Debtor and the RV Companies in the past two years have simply been
unable to secure the financing necessary to avoid foreclosure and
no legitimate prospects exist.  The Property is not generating the
funds needed to adequately protect TD Bank, Preston and ABCO.  In
fact, without infusion of cash by TD Bank as part of the
receivership, there were insufficient funds to get to the
February 26, 2011 foreclosure date," Preston Strawberry states.

Preston Strawberry seeks punitive damages against the petitioning
creditor $100,000 and attorney fees.

Preston Strawberry is represented by Mark Stern, Esq. --
mark@msternlaw.com -- at Mark Stern & Associates, LLC.

ABCO Realty, LLC, filed an involuntary Chapter 11 petition for
Preston, Connecticut-based Volin, LLC, on December 17, 2010
(Bankr. D. Conn. Case No. 10-24275).


ZWC PROPERTIES: Case Summary & 9 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: ZWC Properties, LLC
        2131 Placentia Avenue
        Costa Mesa, CA 92627

Bankruptcy Case No.: 10-28140

Chapter 11 Petition Date: December 26, 2010

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

Judge: Erithe A. Smith

Debtor's Counsel: Jeffrey B. Smith, Esq.
                  301 E. Ocean Boulevard, Suite 1700
                  Long Beach, CA 90802
                  Tel: (562) 624-1177
                  Fax: (562) 624-1178
                  E-mail: jsmith@cgsattys.com

Scheduled Assets: $1,750,302

Scheduled Debts: $3,021,500

A list of the Company's nine largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-28140.pdf

The petition was signed by Stephen Scott Webster, managing member.


* Black Diamond Raises $372-Mil. for Distressed Fund
----------------------------------------------------
Dow Jones' Daily Bankruptcy Review reports that Black Diamond
Capital Management LLC has rounded up at least $372 million for
its third fund focused on distressed debt, according to a filing
with the Securities and Exchange Commission.


* Chapter 11 Cases With Assets & Liabilities Below $1,000,000
-------------------------------------------------------------
Recent Chapter 11 cases filed with assets and liabilities below
$1,000,000:

In Re Mott Marina, LLC
   Bankr. E.D. N.Y. Case No. 10-51722
      Chapter 11 Petition filed December 16, 2010
         filed pro se

In Re Ward Street Associates LLC
   Bankr. S.D. N.Y. Case No. 10-24637
      Chapter 11 Petition filed December 16, 2010
         filed pro se

In Re CFC Management, LLC
        dba Mad Donna's Restaurant & Lounge
   Bankr. M.D. Tenn. Case No. 10-13585
      Chapter 11 Petition filed December 16, 2010
         See http://bankrupt.com/misc/tnmb10-13585.pdf

In Re CFC Properties, LLC
   Bankr. M.D. Tenn. Case No. 10-13586
      Chapter 11 Petition filed December 16, 2010
         See http://bankrupt.com/misc/tnmb10-13586.pdf

In Re Jack Out Of The Box
        dba Jack's Chill Grill
        dba Jack's Backyard
   Bankr. N.D. Texas Case No. 10-38809
      Chapter 11 Petition filed December 16, 2010
         See http://bankrupt.com/misc/txnb10-38809.pdf

In Re 5 D And C Corp., Inc.
   Bankr. W.D. Tenn. Case No. 10-33699
      Chapter 11 Petition filed December 16, 2010
         filed pro se

In Re TAU Holdings, L.L.C., a Utah limited liability company
   Bankr. D. Utah Case No. 10-37382
      Chapter 11 Petition filed December 16, 2010
         filed pro se

In Re Paul B. Carleton
      Vickie V. Carleton
        aka Vickie Vaska Carleton
        aka Vickie L Vaska
   Bankr. W.D. Wash. Case No. 10-24994
      Chapter 11 Petition filed December 16, 2010
         See http://bankrupt.com/misc/wawb10-24994.pdf

In Re MaMa Mia Pizzeria and Wings
        dba Goodfellas Pizza Bar and Wings
   Bankr. N.D. Ga. Case No. 10-97812
      Chapter 11 Petition filed December 17, 2010
         filed pro se

In Re Weavewood Inc.
   Bankr. D. Minn. Case No. 10-49291
      Chapter 11 Petition filed December 17, 2010
         filed pro se

In Re Bimmy's, LLC
   Bankr. E.D. N.Y. Case No. 10-51772
      Chapter 11 Petition filed December 17, 2010
         See http://bankrupt.com/misc/nyeb10-51772.pdf

In Re Houle Property Group LLC
   Bankr. N.D. N.Y. Case No. 10-33184
      Chapter 11 Petition filed December 17, 2010
         filed pro se

In Re Pleasantville Food & Gas, Inc.
   Bankr. S.D. N.Y. Case No. 10-24645
      Chapter 11 Petition filed December 17, 2010
         See http://bankrupt.com/misc/nysb10-24645.pdf

In Re Peter F. Pascarelli
      Elizabeth A. Pascarelli
   Bankr. E.D. Pa. Case No. 10-30910
      Chapter 11 Petition filed December 17, 2010
         See http://bankrupt.com/misc/paeb10-30910.pdf

In Re 54 Troy Street Building Company, LLC
   Bankr. D. R.I. Case No. 10-15240
      Chapter 11 Petition filed December 17, 2010
         filed pro se

In Re Rio Bravo Holding, LLC
   Bankr. M.D. Tenn. Case No. 10-13604
      Chapter 11 Petition filed December 17, 2010
         See http://bankrupt.com/misc/tnmb10-13604.pdf

In Re H & L Hospitality LLC
   Bankr. E.D. Va. Case No. 10-20527
      Chapter 11 Petition filed December 17, 2010
         See http://bankrupt.com/misc/vaeb10-20527.pdf

In Re Michel Kabolan Bseibes
      Samira Victoria Bseibes
   Bankr. S.D. Calif. Case No. 10-22203
      Chapter 11 Petition filed December 19, 2010
         See http://bankrupt.com/misc/casb10-22203p.pdf
         See http://bankrupt.com/misc/casb10-22203c.pdf

In Re Adamas Media Group, LLC
        dba Sign*A*Rama DTC, LLC
   Bankr. D. Colo. Case No. 10-41612
      Chapter 11 Petition filed December 20, 2010
         See http://bankrupt.com/misc/cob10-41612.pdf

In Re Ocean Dollar LLC
   Bankr. D. Conn. Case No. 10-33750
      Chapter 11 Petition filed December 20, 2010
         See http://bankrupt.com/misc/ctb10-33750.pdf

In Re Ezra E. Beard
      Michelle D. Beard
   Bankr. M.D. Fla. Case No. 10-30186
      Chapter 11 Petition filed December 20, 2010
         See http://bankrupt.com/misc/flmb10-30186.pdf

In Re Paula Di Cosola
        aka Paula Wrobel
        aka Paula J Di Cosola
   Bankr. N.D. Ill. Case No. 10-55962
      Chapter 11 Petition filed December 20, 2010
         filed pro se

In Re Eddie Dale Vincent
      Brenda T. Vincent
   Bankr. W.D. Ky. Case No. 10-36562
      Chapter 11 Petition filed December 20, 2010
         See http://bankrupt.com/misc/kywb10-36562.pdf

In Re Westside Baptist Church of Alb.
        aka The Church
   Bankr. D. N.M. Case No. 10-16230
      Chapter 11 Petition filed December 20, 2010
         filed pro se

In Re Toth Farms III, L.L.C., et al.
   Bankr. N.D. Ohio Case No. 10-22268
      Chapter 11 Petition filed December 20, 2010
         See http://bankrupt.com/misc/ohnb10-22268.pdf

In Re CHN Construction, LLC
   Bankr. E.D. Va. Case No. 10-38656
      Chapter 11 Petition filed December 20, 2010
         See http://bankrupt.com/misc/vaeb10-38656.pdf

In Re Romulus, Inc.
   Bankr. N.D. Ala. Case No. 10-85090
      Chapter 11 Petition filed December 21, 2010
         See http://bankrupt.com/misc/alnb10-85090.pdf

In Re Nancy Cea
   Bankr. C.D. Calif. Case No. 10-27941
      Chapter 11 Petition filed December 21, 2010
         See http://bankrupt.com/misc/cacb10-27941.pdf

In Re Selton 1 Corp.
   Bankr. C.D. Calif. Case No. 10-64226
      Chapter 11 Petition filed December 21, 2010
         filed pro se

In Re La Bonita, Inc., a California corporation
   Bankr. E.D. Calif. Case No. 10-64649
      Chapter 11 Petition filed December 21, 2010
         See http://bankrupt.com/misc/caeb10-64649.pdf

In Re Baltic Brothers, L.L.C.
   Bankr. M.D. Fla. Case No. 10-22460
      Chapter 11 Petition filed December 21, 2010
         See http://bankrupt.com/misc/flmb10-22460.pdf

In Re Leisure Lands Consulting, LLC
   Bankr. N.D. Fla. Case No. 10-41180
      Chapter 11 Petition filed December 21, 2010
         See http://bankrupt.com/misc/flnb10-41180.pdf

In Re Laser and Cosmetic Dermatology
   Bankr. N.D. Ill. Case No. 10-56103
      Chapter 11 Petition filed December 21, 2010
         See http://bankrupt.com/misc/ilnb10-56103.pdf

In Re Trilogy Real Estate LLC
   Bankr. S.D. Miss. Case No. 10-53007
      Chapter 11 Petition filed December 21, 2010
         See http://bankrupt.com/misc/mssb10-53007.pdf

In Re NLCO, Inc.
   Bankr. E.D. Okla. Case No. 10-82259
      Chapter 11 Petition filed December 21, 2010
         filed pro se



                           *********

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
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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,
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